♪ rally on dow futures up big as last week's gains look to continue. what happened to all of the fear of just a couple of weeks ago? we're going to dm g ting dig in. the end of an era. a ceo stepping down. and out of this world remarks elon musk just made over the weekend that are getting a lot of buzz. it is monday, march 12th, 2018, "worldwide exchange" begins right now. ♪ it's a beautiful day

hi, good morning, earth. who's ready for power breakfast. i'm the new host of this fine program, brian sullivan, thank you for being with us. the five big things that you need to know today stocks are in rally mode as we kick off the week. dow futures indicating that the markets could open up 100 points higher and dow chairman stepping down, jim fitterling is expected to take the helm of the dow after the break job. and the highly anticipated ipo, financial times reporting that advisers are still struggling over the company-desired $2 trillion valuation. trump firing back on imports. a live report coming up. and elon musk making out of this world remarks, musk telling a crowd over the weekend that he hopes to send a spacecraft to

mars in the first half of next year wow. all of these top five in just moments. right now, big news. a longtime leader, and drew liveis landon dowdy >> liveris reportedly plans to step down as executive chairman of dupont april 1. "wall street journal" said the company will make the announcement today, jeff fettig will take over and the science company will be known as dow and it marks the end of an era, he's stepping down with all the-time highs this year in a company competing two products that he built his legacy on first, dealing with dupont and second, a huge petrochemical plant in saudi arabia. but liveris wasn't without issue, with the financial crisis that nearly sank the company before warren buffett went

through it and then dan loge called for a breakup and was ready to go after liveris until the board shake-up liveris came into controversy after his so-called lifestyle. he led the white house advisory council of ceos in manufacturing industry before it disbanded end of an era. handing over the reins, brian. >> yeah, liveris has been involved in business council, business meetings. >> davos, switzerland. >> he's a nice guy he's been around a long time you wonder will a liveris switch spark a new wave some of these folks have been around for a while a lot of political heat on these people, landon dowdy, thank you very much. if the early moves are any indication, your money to get off to a big move this week. the dow with an implied open of 100 points what happened of all of the fear

and loathing of just a couple weeks ago? we're going to find out in a moment the bond market has been the big story so far this year a lot of concerns where the ten-years are go bond yields fairly muted right now. joining us, michael purvis we thought we were the only ones that got up this early thank you for joining us >> glad to be here >> volatility spike, bond yield spike, stocks fell, knowledge seemed relaxed what happened? >> yeah, it's funny price reaction can do that feels like 2017 again. look, i think a couple of things when we saw the vix explosion late january and early february, it got people wondering about things the bond yielding higher and higher the regime changes

when you're talking about a multi-decade run in bonds, that regime change doesn't end up overnight because the vix popped up over 40 and so forth. >> are bonds are king, or is it a benevolent lord? >> i think you always feel respect for the king 2%, 3%, you always have -- fo to figure out where equities are going, you have to figure out where the ten-year is going. >> full stop, having said that, i think this whole call for the ten-year yield to ra race up to 3.5% is a very aggressive call and you're seeing this with inflation. the market isn't going to keep rolling out of bed to the down side every day >> there is a idea that it's a signal for automatic equities,

do you agree with that >> it doesn't mean that markets can't rally with bond yields going up in fact, there's a lot of precedent for that to happen if you get ugly news out of the blue, the downside of the s&p, it's not going to be 2%, you know, mike yo dips, by the time you got there by the time you got back from your coffee run, right? with moves so much of this wonderful bull market rally we had over the last five years, the bond yield was proximate to the dividend yields right that's not the case dmim and it won't be, unless bond yields go back to that >> many investors, and low yield funds. do they need to worry about the vix or is that an in and out trader-type situation?

>> in terms of the whole vix squeeze and driving the market imbalance, i don't think they really have to -- if they're long-term investor, they have to ignore that. but having said that, i think it's always good to have one eye popped with where the vix is trading. >> last friday's jobs number was big. >> yes >> but was it so big as to be bad. what i mean by that, the inflation scare. were you worried about that? is inflation the biggest worry we've got right now? >> ultimately, what's going to unrevel the stock market is friday's inflation you really didn't see that, out of inflation, 313,000 jobs being posted and that, of course, is what helped ignite this rally we had on friday flowing into today's session. i think we have to be very realistic with how many more prints like that can we actually expect i think all these job numbers

come with a fair amount of noise. and i just wonder -- it was almost too good to be true i think we have to be good at seeing much more inflation at jobs numbers or they're not going to be simple >> bad used to be good because that put the fed back into play to lower rates or keep rates longer now, it seems that the good is the new bad. >> we've been doing this too long >> last questionis this, what is the next big thing that you're watching, the most important bit of data or news for you? >> i would say that's a great question i think what helped the market resiliency coming outside of this volatility in february was the fact that earnings growth accelerated by 2%. forward earning accelerated by 2% i think as the market continues to trade to the upside what's going to come into focus pretty soon is q2 earning. anything that suggests that q2 is not robust like q1 is going

to get the caution light >> two seasons we're waiting on, spring and earnings season michael, we'll see you soon. thank you very much. we're following a developing story, though, on what could be the biggest ipo ever it was one that cnbc was all over last week the financial times reporting that saudi aramco could delay going public by the end of next year it was expected to come to market by the end of this year but the s&p says investors are struggling to arrive the a $2 trillion valuation sources have said that the value of aramco is all over the board. some suggesting it's worth $500 billion. others saying $1 trillion easily valuation aside, remember, last week, we sat down exclusively with the ceo of aramco and asked hill about the timing of the ipo. >> when can we expect a decision, a timing >> well, that's up to the

shareholder. when and where it is, it is a shareholder decision for listing saudi aramco >> and keep in mind, when they say shareholder, they mean one shareholder and that is the kingdom of saudi arabia. new york london, hong kong in the running for any liftinsting. trade now. any trade with america, china says, quote, will be a disaster. this comes as they're now calling on their government to retaliate against the u.s.' steel and aluminum tariffs to go after. eunice yoon joins us now eunice >> reporter: yeah. they're getting quite specific about that list. i'm coming to you from a steel fra factory that is just one of the

metals industry who are calling on their government to take action and retaliate against president trump's tariffs. the associations that red both steel and aluminum issued statements that said they strongly oppose the tariffs. and they've gone through a list of what the chinese government should take action against for metal products, they say that beijing should target stainless steel, galvanized sheet, seamless pipes and scrap aluminum and other industries. and they say that china should also punish cultural products, consumer electronics, luxury goods and coal it's the first time steel has been mentioned as a target china is ramping up its imports of american coal to 3.2 million tons last year that's five times greater than 2016 and valued at $220 million

now, the reasoning, according to some analysts here, is that they believe that the beijing government should consider going after products that are made by states that have helped president trump get his election with they say they should go after trump's political base now, what the association has also said that they believe that the latest measures really are going to contribute negatively to the overall global and aluminum markets brian, what's interesting to note, china's metals producers are not expected to be directly affected by these actions. and yet, we are seeing a lot of anger here on the ground, even though, officially, these are still threats and not action brian. >> eunice yoon in china. thank you very much, eunice. in deal news, the billion dollar dating game known as

semiconductor took form over the weekend. intel saying it is currently focused on integrating previous deals, effectively casting doubt over the idea of another transaction. remember on friday, "the wall street journal" reported that intel was weighing another a number of deals including a bid for broadcom this comes as broadcom is making a full court press to buy qualcomm in a deal but that's coming under pressure from regulators. qualcomm is separately chasing a $44 billion deal if you followed that you're way too awake today. >> the "wall street journal" report something insurers are reportedly gaming the medicare system in an attempt to increase federal bonus payouts. papers say companies including united health, aetna and anthem are using programs called

cross-walking. the government pays bonuses to companies with top-rated plans have are customers in those plans means more money for the insureds now to more on pharma space. key cholesterol drug data is out. meg with details >> that drug made was shown to reduce the risk of cardiac event like stroke over the weekend the drug was associated with a lower rate of deaths during the study compared with placebos important findings that investors hope is for use of the medicine and it competes with a similar medicine made by amgen they were both approved in 2015 because millions of americas have heart disease and cholesterol, it is expected to

generate billions of dollars in revenue. instead, they've been commercial flops combined to $29 million one reason is their price. data shows even when doctors are writing prescriptions for these drugs they're getting rejected more than half the time by held insureds another reason is that the drugs haven't been approved because of cardiac deaths or events even on top of popular drugs called statins that's why these data that just came out are so important. in a trial of 15,000 patients who recently had an event like heart attack another drug showed an event rejern ron and sanofi's medicine was associated with a lower rate of trial in placebo. in most patients, they're saying

they're exploring lowering the price of drug to open up access. showing where results show that the product works well results in its costs being lowered >> meg, thank you very much. the friday hike. what the jobs report means for the fed and your money we'll get an insider take straight ahead plus, it was disney versus disney at the box office this weekend. no surprise, folks, disney won but there are big numbers that you've got to hear and we'll have them for you next ♪

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welcome back to "worldwide exchange." 5 a 18 here in the east. i'm the new host brian sullivan. good to have you with us could be a new monday for your money. bond yields not spooking stocks this morning the ten-year yield getting a slight bump to 2.8%. and market stocks as you know perhaps the big story of the year with the stronger than jobs report, now, we're wondering if that strong jobs print could push the fed to get more aggressive with rate hikes this year let's bring in real early from dallas, texas, president of money strong and former adviser. it's either really early or really late, danielle.

i'll let you decide, but thank you very much for joining us how important was that friday number for the fed's thinking for the year >> it's going to depend on fed policymakers and how far into the weeds they dig it wasn't just a strong headline number, brian. it was the fact, the duration, the length of time people are spending being unemployed is the lowest it's been in years. so people are finding work much more quickly than before and that is really why we had the blowout number on the other survey the survey that kept unemployment rate at 4.1%. we had 1.5 tropical people come off the sideline it's every central banker's dream, brian we had charlie evans on cnbc, right after the job report came out. he echoed lael brainard, you know they're two notorious dubs. i know that you know you didn't

know they were dubbers and this is fed speak saying that we're going to get tighter. and there's wage inflation built in the background. if there's more to come, it's going to be a heavy, heavy week for the fed with the data coming up >> fair enough but i'd expect that the dubs may be on the rooftops touting wages not growing. and saying, okay, we're gaining a lot of jobs. but pay is not up that much, but wage inflation is not a story. >> but what we're hearing from employers and people finding work as quickly as they are, wage pressures are building. wait for the national federation of international business report to come out bright and early tomorrow morning look for that cpi report we are seeing inflationary pressures building and the only thing that we're not seeing, by the way, and this is coming out of china mainly

we're finally seeing the heat. iron ore, copper, steel prices, despite the rhetoric, all of these prices will be coming down it's easy to keep your eye on the wednesday morning producer price index because that's hitting a six-year high. >> do you think it's possible that we get four rate hikes this year, danielle >> i think if we have another print like we had on friday. we've had two since this decade started, two prints above 300,000. if that number is not ratcheted down with revisions come the early days of march, it would not surprise me if we see growing momentum, especially if we see wage inflation pick back up, which was a growing work week which offset earning. i i think we could easily see that this year on top of $20 billion of shrinkage on the balance sheet which equals two people are actually discussing

this incorrectly, brian. it's not a matter of whether we get three or four. it's a matter if we get four up to six rate hike equivalents it's going to be interesting >> thank you, we appreciate you getting up early to bring it to our viewers, thank you >> thank you still ahead on "worldwide exchange," a deep dive into global markets what you can expect on the day ahead. sad news in new york city. a deadly helicopter crash in the hudson river it was caught on camera. that full story next

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it's 5:25. nbc's francis riviera in new york with the latest >> good morning to you five passengers were killed after a helicopter went down in east's north river last night. the pilot is in good condition police say the aircraft is owned by a helicopter tour company and was hired for a private photo shoot. according to audio posted onlive it reported engine failure the ntsb is investigating. >> the white house has released president trump's policy proposals for school safety. they include justice department assistance for firearms training of school personnel on a voluntary basis, strengthening background checks also adoption of extreme rink protection

orders which allow law enforcement to remove firearms from individuals deemed to be a threat and also expanding mental health programs and tread trump welcomes the houston astros to the white house today. all members of the team will attend have a great start to your week. >> thank you, awe as well. coming to a front porch near you, look up because package delivery by drone might be here sooner than you think. and musk on mars the billionaire waking out of this world comments about his big plan to space. don't go away. you're watching "worldwide exchange" on cnbc.

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welcome back good monday morning. hey, you might want to break out your rally caps, folks why? because wall street pointing to another good morning of stocks what you can expect for your day ahead. and it may be the end of an era. long time dow leader and drew liveris reportedly stepping down at the end of next month what that means for his company and potential long "time" ceos apparently musk has mars on his mind the comments that the ceo made over the weekend that's got everybody rightfully buzzing this morning hey, it's monday, march 12th, 2018, and you're watching

"worldwide exchange" on cnbc ♪ i'm not responsible for that music, folks good morning, and welcome to "worldwide exchange" on cnbc i'm brian sullivan it's great to have you see me. let's get a check of the markets this morning dow futures indicating what could be another higher open we're looking at an implied open of another 100 points. the dow coming off another strong week of stocks last week. happy monday could be another good day for the dow. we'll have more on markets in just a second. first, we have a news alert with landon dowdy >> liveris reportedly plans to step down of executive chairman of dow dupont april 1. "the wall street journal" said the company will make that announce later today jeff fettig will take over the job. jim fetterling is expected to take the council

liveris' retirement marks the end of an era. he's stepping down with the dow hitting all-time highs this year first joining with dupont and then second a huge petrochemical plant in saudi arabia. but liveris' tenure wasn't without issue. he survived his share of critics when financial crisis nearly sank the company before warren buffett threw it a lifeline. and in 2015, after the break job was ready to go afternoon liris after they reached an accord, liveris came under fire for his somewhat lavish lifestyle. liveris led the white house's advisory council of ceos and industry >> and i'm sure, there's numerous calls out there this morning andrew, if you're up early, i'm sure you are, most ceos are, give us a call love to hear from you. in trade news, we're getting more strong reaction out of europe to president trump's proposed plan.

let's get to cnbc's willem marx live in belgium with more. >> yeah, brian good morning we heard over the course of weekend that global would be meeting with the u.s. trade rep. that meeting didn't go too well. she said the conversations were very frank but came away with no greater clarity that the u.s. would be exempt from those tariffs on steel and over the timetable, there are no details on how those will take place we heard criticism from the japanese enjoy he was part of the meeting he said that the trade war would be a real problem and it was something he was hoping again to get more clarity on. and near brussels, very unhappy about the lack of clarity coming out of trump white house and a few analysts we've been speaking to, brian, telling us, this is not what they're expecting from the white house

they weren't expecting this to be rolled out in a meaningful way. and the guidelines still have been not been published by the u.s. side. >> willem, you said they did not expect it, do you believe based on the people you've been talking to, it was more of a negotiating tactic, perhaps, gamesmanship, rather than a real threat >> reporter: that's certainly the impression i've been getting in brussels here, brian. we've heard that, they are not willing to negotiate on trade to try and win these exemptions this is something that we've heard as a message again and again and again the last few days they themselves are willing to respond not only for their concerns for their steel industry, and also by retaliating up to 2.8 billion euros worth of measures against u.s. products. that's something they're saying they're holding back in their arsenal waiting to get clarity over the next 10 or 11 days when the u.s. tariffs in theory should kick in >> willem marx, see you on cnbc. thank you very much.

this has certainly been an administration where politics and ceos have intersected like never before and chris liddell a former executive of general motors is now reportedly under consideration to be president of the united states trump's economic adviser this comes as gary cohn announced he'll be leaving the post larry ludlow has been cited as that also. ian, do you have a selection, navarro, our friend larry kudlow, nadel or someone jels. >> our friend kudlow, or knight who works. with gary cohn is he nec is still there. and probably be market friendly and somebody that the investors would like better.

liddell is a little bit of a question mark because he fits the trump mold as someone who is an executive and knows the corporate world. but the thinking is, based on some of the statements he's made in the past is that he's a little more protectionist perhaps than conh, so that raises questions whether he would fight back >> do you think that gary cohn left entirely because of the tariffs. there have been reports that cohn was deciding whether or not to resign for a matter of months was tariffs the thing that got him to fall or pushed him out? >> i don't know rlg, it was probably more of a last straw kind of thing. if you think about it, he was never going to stay in that job forever, right it was a year or two years one of the things that he wants to do is infrastructure, and that's not going anywhere. perhaps he thought he was losing trade battles within the white

house. there's not not a really big product like tax reform still on his plate. why not take off while the time is good. >> let's file this as wonky but good there's a report going on with elizabeth warren from massachusetts. part of the provision would be effectively bringing back dodd-frank, do you believe there's a chance of that happening? >> no, i think what's happening on the hill is what we saul the sippy bank relief bill that was formed by the chairman of the senate banking committee along with a group of moderate democrats. that's now on the senate it's going to be back on the senate floor this afternoon. we believe it's going to pass the senate, probably this week it will move on to the house we're thinking it will probably go through the house before the end of june, and become law. what that bill does, it's a mild deregulation, it's a mild tweaking or reforming of dodd-frank it's not a dodd-frank overhaul but we think it's going through.

it mainly helps the small banks to some extent, the medium banks. but it really doesn't do much for the large banks and the wall street banks and that's part of the political battle that's going on now is that some of the democrats are casting this as a gift to wall street. i would not characterize is like that >> when we talk about credit scores, the reaction tending to be people rolling their eyes, frustrated they don't know how they're calculated they don't know why they're score may be the way it is but credit scores are incredibly important. part of that bill or another bill going on capitol hill, ian, correct me which bill it might be in, is a proposal to force freddie mac and fannie mae to use the alternative to the traditional numbered credit score when determining mortgages. i know it seems wonky, but again, very important. do you think that will happen? because that would probably save a lot of people a lot of hassle.

>> it looks like it will it's been added to the bank relief bill and what it would do, as you described, it would open the competition more to alternative credit scoring so that is an important measure, and we do think that will probably see the light of day in this bill. and we'll probably have a better idea, for sure, in the next couple of days >> ian katz, capital alpha partners thank you for joining us on "worldwide exchange. >> thank you some individual stock names that you need to put on your radar for this monday includes american express it plans to cut the fees that it chargers retailers in a report last week, amex said it would stop 6% this year the company's new ceo said he's willing to make, quote, conscious tradeoffs to get more business back to amex.

shares of prada raising. the italian goods maker said it stemmed the sales at the end of last year and expects to see growth continue this year. india's eicher is ending its joint venture with polaris it is best known for its royal infield brand of motorcycle. a lot more to do here, bright and early on a monday morning. still to come, shooting for the stars. elon musk sharing big news about his plans to make it to mars that and the rest of today's top trending stories are next. but first, before we head to break here's the weather forecast from bill karins. good morning, brian. another nor'easter, third one in two weeks is going to hit eastern new england especially hard, glancing blows for i-95. some areas of kentucky, virginia

and even north carolina tonight. so, the worst of it is going to be up here to the north. that's where we have winter storm warnings all the way up to maine apartment hartford it's a blow for new york city, hart ford, an impact for you cape cod, portland, 91 is getting 12 to 18 inches of snow. as far as the winds go, thankfully, the big cities not dealing with anything too strong look out at cape cod to martha's vineyard and nantucket winds up to 70 miles an hour more when were we get into it. that's your forecast more "worldwide exchange" when we come back - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time.

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i made my own way, now it's time to make yours. ♪ everything is working, just like it should ♪ it is "black panther's" world and every orally movie is just living in it. the disney marvel movie has now made more than $1 billion totally. after the first weekend in china it earned over $66 million automatic yenses here tonight seem to be tiring of the movie either even in its fourth week, the movie earned another $41 million bidding out "a wrinkle in time." "black panther" becomes the fifth marvel movie to earn more than $1 billion. time for this morning's top trending stories landon dowdy is back with those. elon musk is getting buzz for comments made over the weekend at south by southwest, musk telling an audience that

his space ship venture could be shending a space ship to mars by the end of next year >> has anybody called matt damon to see if this is actually possible >> but, do you know what the inspirations were? >> not damon >> fred astaire and con yale west >> fred astaire and kanye west fair enough. what else? and a drone delivery could be a reality according to federal regulators and industry officials, drone delivery could be ready for the summer from companies like amazon to fly to your door step this follows the pressure from the white house to do more to speed up delivery. amazon is pushing for safety approval to get their drone delivery program off the ground. >> here's my question, do we have enough drone pilots before because everybody you've seen with a drone is 12 years old. >> they're probably better thanner. >> probably are.

i'm not knocking it. you can be a drone delivery pilot if you're a teenager i don't know >> sounds like a good job. here's what's trending my favorite part of year, work may fall by the wayside as americans built their march brackets virginia, villanova, xavier and kansas the first round of the tournament will begin on thursday i noticed that unc has a second seed and. >> virginia dec playing alabama and pittsburgh on thursday and i will not be at the game but i'm going to make a prediction that the unc tar heels will be knocked out by whichever fine team they're playing. by the way, it's an acc world here landon, thank you. from the basketball court to the hard courts. tiger woods is back. tiger was near the top of his form and the top of the leaderboard at the values spar

championship this weekend. in the final round yesterday, he sank this incredible 44-foot putt on the 17th hole to get within one shot of the lead. he couldn't quite do it. he finished high behind the eventual winner paul casey but this is tiger's best outing since 2013 next up for tiger, the arnold palmer invitational next week. the masters is just a month away in other sports there may be a new bidder for the carolina panthers sources tell michael reuben who owns fanatics is interested in buying the panthers. rubin has declined to combhents to cnbc but is considered to be a bidder he currently knowns a minority stake of the philadelphia 76ers and new jersey devils. head fund mogul david tepper

seen as a potential contender. for and pushing the nasdaq to get another record. we're going to dive into what is important to tdirang today don't go away. you've watching "worldwide exchange." vestors stay confident for over 80 years. call us or your advisor. t. rowe price. invest with confidence. directv gives you more for your thing. your top-rated thing. that five stars, two thumbs up, 12-out-of-10, would recommend thing. because if you only want the best thing, you get the #1 thing. directv is rated #1 in customer satisfaction over cable. switch now and get a $200 reward card. more for your thing. that's our thing. call 1.800.directv

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we stay with you to and through retirement. i get that voya is with me through retirement, i'm just surprised it means in my kitchen. so, that means no breakfast? voya. helping you to and through retirement. all right. we're approaching the top of the 6:00 a.m. hour that means the team is getting ready for "squawk box. joe kernin joining us. joe, we're going to be seeing a lot of us coming forward, is that okay? >> the way you said "squawk box" is judge an important. wilf, we wish him well you know, brian, i think he wanted to get back in prime time in the uk. so, if he's on at 3:00, does that put him on -- what is that like 9:00 at night over there? >> that is perfect, sir. it's a fantastic time. >> so david frost's son should be prime time in the uk. but it works for us because he

could not say "squawk box. every morning he would say wah, wah, wah -- he never practiced >> why can't the english teach their children how to speak? >> i wasn't going back to dthat >> do you prefer the emphasis on the squawk or box? >> i had no idea what show was coming up, right it was like, what? anyway i see you taking this to -- because aren't you like our roving guy, too. you know, you can do "worldwide exchange" anywhere in the world. that's why it's called "worldwide exchange. and you love to do that, right so, i'm looking forward to that. nobody's better in the field than you, too. >> thank you thank you. >> you're welcome. >> here's my question to you, joe. it's a serious one if cincinnati and xavier played each other, who do you root for?

>> you know, they did play for >> i mean in the big dance in the big dance >> yeah, i know in the crosstown, whatever it's called back and xavier won i was at the friday night game and it was a killer. it's hard for me i could not be a coach because i take it very hard. there was overtime they were up at the half against providence they're in different brackets. i'm going to take them both away why shouldn't i? on any given night, anything can happen is virginia really going to -- i don't know, they almost lost virginia tech, you never know, they suddenly show up. north carolina beats duke. duke beats north carolina. michigan beats michigan state. michigan state is good, though i don't know what to do, so, i'm going to wing it i may pick one of those team, brian, that play the day before, you've never even heard of them. >> yep >> and then one of them wins and beats the next it's very difficult.

who will you take to win all of these? i watched villanova play when they need to step up, they step up. they had an overtime victory that they had the win over providence, do you remember, just on saturday. >> buffalo, watch out for the buffalo bulls. not the bills. i'm throwing that out there. >> we have kevin mccarthy on which is interesting after friday i had to switch that, because if all we talk is basketball it's almost as if we had a guy that used to be in the sports business running the place or something? no no, maybe not. that's not a good way to suck up, by the way >> you're welcoming me into this new role, joe, and i certainly do appreciate it look forward to seeing you a lot more >> it's starting off great i know exactly what show is coming up at 6:00. instead of what shows coming up next -- box. >> joe, thank you. let's get a check on the

futures and your money the dow is indicated up 80 or 90 points this morning. we were up a couple percent is this month but the nasdaq is up over 8% already in march we're joined by michael farr obviously a cnbc contributor michael, two weeks ago, markets were in turmoil, vixs were soaring. suddenly up 8% in tech stocks in march. what was the switch? >> it's back on, brian people starting their week with brian sullivan on "worldwide exchange." i think it's a new found optimism for markets driving prices very clear. >> we call it hopeium. a play back to 2011. i appreciate that, michael with marketing like this, it's hard not to be optimistic. these markets going up 45% since the election at some point the whole corporate earning are still good

is not going to be enough of an argument >> right well, you know, brian, i think emotionally, investors have been whipsawed over the past couple of weeks i mean, everything from north korea to tariffs out of the blue to chairman powell's testimony i think was a big deal getting over that, any kind of spooked markets. so, in a lot of ways i think we're seeing a bit of a relief rally. i don't think we're back on numbers yet and if you want to worry, i'm probably your guy because this flat yield curve does have me worried if you see a ten-year treasury at 2.9% this morning and if you believe chairman powell is going to raise rates another 3% or 4% this year, that takes 30-year mortgage rates well above 5.25%, maybe 5.5%, does that slow the real estate market down? is that enough of a headwind to kind of stop the economic growth or will we see the earning grow

vis-a-vis the tax cut to make up for it i worry about the interest rates or if the drag is too much >> did gary cohn's departure have an impact, mike >> because it was short-lived. i think we went immediately to to that north korea we're going to get together and sing kumbaya announcement, we don't have to worry about nukes anymore. i think the shiny car keys have distracted us. i think cohn's departure say big deal, brian. >> michael farr, farr/miller in washington every day, i've been cutting the rbi, today the rbi may be me thank you for joining us i'm the new host of "worldwide exchange." we do wish sara and wilf the best sara is hosting the 10:00 a.m. when she comes back.

we'll be on "closing bell" every day at 3:00 p.m. eastern time. "worldwide exchange" rolls on in from here on out thank you for joining us on this monday morning i'll see you tomorrow morning. "squawk box" is next see you tomorrow experience amazing at your lexus dealer.

good morning futures starting out great futures pointing to a strong open to start the trading week the market actually does look good we got a market rundown after that big gain on friday. normally, you'd think, wow, that many jobs that could make things a little too hot but the inflation indications are really good on friday or really bad and shake-up, andrew liveris stepping down at dow due point

and an exit at goldman sachs sports we'll talk march madness tiger's return and a "squawk box" guest host, a potential bid for the carolina panthers it's monday, march 12th, 2018. my anniversary tomorrow. 20 years 20 years, yeah and "squawk box" begins right now. ♪ ♪ get ready get ready ♪ i'm gonna try to make me love me too ♪ >> announcer: live from new york where business never sleeps, this is "squawk box. good morning, everybody. welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernin and andrew ross sorkin. as joe mentioned it has been a strong