buckle up. we're about to find out if companies deserve your money the biggest week of earnings kicking off. the name to watch straight ahead. oil alert, crude flirting with 70 bucks a barrel the impact that could have on your wallet. we are headed live to the korean peninsula it is monday, april 23rd worldwide exchange begins right now. good morning and welcome from wherever in the world that you may be watching. i am brian sullivan. thanks for being with us here are the top five things

happening right now. gasoline prices are on the rise. the average price of a gallon of gas, $2.83 nationwide. that is up 9 cents over the past few weeks. ubs delivering an earnings beat thanks to strength in the investment banking unit. china's tencent could have a blockbuster ipo. the valuation could top $25 billion. president trump will host french president emmanuel macron at the white house syria and the iran a hot deal. another royal baby could be on the way kate middleton checking into a hospital in london we are told in the veryearly stages of labor. all right. we're going to have more on all of these stories first, here's how your money and the global markets are setting up their day stock futures indicating the dow likely to open slightly lower although still the losses right now on the futures are a bit muted especially coming off of friday's big drop.

you need to watch the bond market yields rising. it's entirely possible that the benchmark ten-year yield could hit 3% during this show. we are literally just underneath that at 2.994. let's go worldwide asian markets fairly calm given our drop on friday all the major indexes are down, but only fractionally. in europe, the trade a similar story. not a big reaction markets are down, a lot of red you can see down 1 or 2 tenths of 1%. here's a look at commodities and currencies oil getting the attention again hitting 70 for the first tim since 2004 president tweeting about opec on friday now oil down right now trading at 68 and change just under 74 over seas. we'll have to see what happens all through the day today. also higher lately is the u.s. dollar the dollar rather quietly at its highest level since january, $1.22 per euro

the metal's only copper. bitcoin up 3/4 of a percent over 8900 it is a busy day for economic data and a busy week for earnings as well today you want to look for the existing home sales number this is a very impactful number. comes out at 10:00 we also get the s&p case-schiller price index. new home sales on. jobless claims on thursday and gdp on friday. a dozen dow components are reporting their earnings this week a bunch of big tech stocks are out. alphabet today, facebook on wednesday. joining us is grace peters thanks very much for joining us. obviously friday a tough day for stock investors globally why do you think the markets have calmed down is it korea? is it that oil is backing off? what's your take

>> well, specifically in europe we've had some pretty robust pmis which will be the data point. if you recall europe was strong out of the gates in january but experienced a strong material pull back in the pmi number in february and march the numbers released this morning share a plateauing off of pmis slightly ahead of market expectations that's bringing some calm to markets this morning. >> the korean news, i don't know if it's getting into play or not. a lot of people saying we don't believe kim jong-un anyway no matter what he says. i understand politics are not why you are here, but i would have to imagine that a cooling down on the korean peninsula, grace, should be a big deal for global markets. >> for sure. we follow corporate profits most closely. when you look back in history, there's about a 90% correlation but obviously markets can over shoot and under shoot around

that that's where the policy piece fits in. if you see trade or other geopolitical events, that can help markets and stop reforming. we're seeing bond yields go up and the price of oil go up. it's down a little bit this morning, but overall the trend certainly has been higher. at the same time that our federal reserve is tightening. do you think the u.s. equity markets can withstand that >> so we see bonds continuing to rise with a continuing torgt of 3.10 by the end of this year at that level it should be a reasonable level where both stocks, you know, can do well. the level that we start to get slightly more concerned about is a ten year around 3.10 that's based on historical data analysis that we've done how we use and when we're

thinking about equities how we use the u.s. ten year comes down to stock selection, sector selection and looking for sectors and companies that do well in a rising yield environment. typically that's more cyclical stocks, financials, industrials whilst defensive stocks do less well in that rising yield back drop. >> what is your biggest concern right now then, grace? >> the biggest concern is undoubtedly that political risk does escalate because ultimately that's a negative feedback loop in the first instance, it impacts market stimulus but ultimately that does then start feeting into the real economy that we've seen starts to pull back so which regions is that likely to weigh on the most it would be europe and asia because they are higher beater regions and higher beater regions to growth and investor sentiment. our base pace is that you don't see material trade escalation

and, therefore, actually europe is a region where we've seen these robust pmis this morning expectations are much lower and you have a far greater weighting to value financials and sector that typically do well in the rising bond yield that we discussed a moment ago and can start to do very well from here. >> grace peters, jp morgan private bank i believe i'll see you out in los angeles. thanks very much for joining us. >> thank you for having me on the show. in corporate news today, southwest airlines canceling dozens of flights for engine inspections. >> southwest has canceled 91 flights today according to flight aware.com that's because they're continuing to inspect engines after last week's engine failure.

the cancellations were voluntary and part of an accelerated program it announced after the accident the airline says they were not a result of the emergency nor were they directed by the faa in a statement, southwest said it's minimized flight disruptions this past week through actions such as proactive inspections overnight. >> this is the second time there was a failure of this sort there were no injuries on an august 2016 flight >> southwest doing the right thing by taking those planes out of commission right now to inspect. we'll see you in a bit thank you very much. staying with airline news, air france saying 1/4 of its flights will be canceled due to a worker's strike. the pilots, cabin crew and grounds staff walked off the job demanding better pay

air france says the strike has cost roughly $270 million since it began. big individual money stories include ubs. the swiss bank reporting first quarter profit rising 19%. that topped forecasts on higher income amid the global pickup in volatility ubs being cautious about the current quarter as it sees geopolitical problems rising the dutch health care company seeing strong growth in the u.s. fresenius terminating a deal to buy akorn. they say they didn't meet several closing conditions and an investigation showed fda problems. we are just getting started here on "worldwide exchange.

up next, we are putting asia up front and center comments from the bank of japan. what he said about monetary policy later, live on the korean pe ni peninsula, north korea vowing to stop their nuclear program we're finally back out in our yard, but so are they. introducing scotts turf builder triple action. it kills weeds, prevents crabgrass and feeds so grass can thrive, guaranteed. our backyard is back. this is a scotts yard.

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times square finally in the northeast beginning to feel like spring, let's hope speaking of heating up, do you want to heat up your investments with a bit of the single biggest stock ideas with the world's best minds who wouldn't lucky for you again because we will be live at the sohn conference that's where the most well-known investors present their stock investments. this moves stocks and sometimes markets. we're going to be there later today. and cnbc also does not stop just because it is on the weekend. sarah icen and spoke to the bank of u.s it must continue its strong very accommodative policy. the economy is doing quite well on the other hand, prices although rising steadily, but

consumer inflation rate including fresh food is only 1%. >> right. >> if you exclude energy items, then inflation rate is only about 0.5% so there's still long way to go to achieve the 2% inflation. >> do you have confidence that you're going to get there? >> yeah. yeah yeah yeah but in order to reach 2% inflation target i think we must continue very strong accommodative monetary policy for some time. it's necessary >> you can see that entire interview at the 10:00 hour. north korea making a big call on nuclear weapons and all of washington and the world is watching we're live at the korean peninsula and the capital after the break. as we head to the break, here is your national weather forecast today with bill cairns. good monday morning to you,

brian. what a fantastic weekend we experienced. northeast, great lakes the warmth was with us all of the problems in the southeast. heavy rain yesterday even a couple of tornadoes, one in louisiana, one in florida today worried about the rain in the northern half of georgia north carolina, south carolina could get 3 inches of rain here's the forecast for today. gorgeous washington, d.c., baltimore, philadelphia, boston, hartford st. louis, cool at 56. the southeast is where we're going to have travel issues at the airport and even into tuesday that wet weather makes its way into the middle east wednesday. more when we come back under care by focusing our mind on whatever's on yours.

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welcome back in. good morning, by the way three may be the magic number, do you remember that from the '70s 3% friday people sold stocks and bonds got bought, yields went up we're at 2.99% now watch the 3% mark. that is a key psychological level. it is just one tick up but the 3 handle, something people pay attention to you've got to watch. it is time for monday morning street talk. why not? couple of busy analyst calls to start your week. under armour upgraded the hold analyst pointed to factors that

the company will achieve earnings goals they boosted from 16 to 14 michael kors going to buy. they expect positive comp growth merck upgraded they're adding the drug maker to the conviction buy list. let's get a check of what's outside of business. phillip men a in new york. this morning a manhunt is underway following a shooting at a nashville area waffle house that left four people dead and four others injured. authorities are searching for 24-year-old travis reinking. he fled after a customer wrestled an ar-15 out of his hands. cia chief mike pompeo's nomination is expected to fugo

a full panel and san francisco giants first baseman brandon bell has set a major league record. after seeing 21 pitches in an at-bat against l.a. angels pitcher, look at belt's marathon here it lasted 12:45. we had to speed it up. it's the most pitches thrown the giants went on to win the game 4-2 brian, that at-bat after all of that ended in a pop fly to right. >> a little nobody cares but i'm an angels fan. i grew up in california. i'm an angels fan. i get to watch it on replay today. now i don't have to watch the game. >> they look good this year. >> they do absolutely i think they're going to do well thank you very much. appreciate it. >> all right north korea vowing to suspect the nuclear tests. we're getting re1307sponse from around the world tracie potts is standing by and

we have eunice yoon standing by. >> the mood here is quite hopeful for the meeting on friday between the two koreas. we heard some encouraging comments out of north korea when kim jong-un said they no longer needed to test at the nuclear site i was just talking to a professor john lurie, and he said there was a very important point in that speech that didn't get a lot of attention and that is that policy in north korea is expected to shift from nuclear deterrence to economic development. in order to do that kim jong-un would have to get relief from the sanctions that have been imposed by the united nations on north korea. as you know, north korea is an isolated economy and the

sanctions have been bietding th - biting this country. we know they have become much tougher with sanctions falling in the past quarter and past year so because of that john delurie said he sees this as an opportunity for the u.s. and south korea to make some progress here on helping to denuclearize the korean peninsula. brian, over to you. >> eunice yoon, thank you very much now let's get more reaction out of washington, d.c tracie potts joining us for that tracie >> reporter: well, as she said, they want relief from the sanctions, brian, but it's not clear they'll get it from washington until they agree up front to back off that nuclear program. the white house saying that they want to keep up the maximum pressure campaign which is mainly what we've seen with those sanctions on north korea this comes down to a level of trust that these two leaders and

countries do not have yet with north korea promising to freeze its nuclear testing, to get rid of one of its nuclear sights and to pursue economic growth and peace. people in washington aren't feeling it they're not necessarily believing that some are skeptical that it's a big p.r. campaign before the meeting with south korea, before the meeting and the face to face with president trump. still ahead on "worldwide exchange," a big corporate move. we'll tell you what's dragging shares of ubs down plus, yes, royal baby watch. the duchess of cambridge in the early stages of labor. she's in a london hospital the whole world on the edge of its atses. we're going to bring you the latest details later in the show

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a market alert wall street pointing to a lower open investors gearing up for a massive week of earnings. under pressure, ubs shares sinking despite a big beat we have exclusive comments from the bank's ceo coming up. you've got to fire up the old time machine because youtube celebrating a major milestone today. you're not going to believe the video that changed, well, video. rbi, it's ahead as the second half of the show kicks off right now. ♪ ♪

welcome back thank you for being with us on a monday morning, afternoon or evening depending on where you are. here's what your market investments look like now. you can see they are up. friday's big drop, that's a fairly calm response given by what we had in the markets on friday bonds perhaps the story. as stocks sold off, people came in to buy bonds as a safe haven. ten-year yield is literally a hair away from 3%. we were at 2.99% heck, we could hit 3% during the show just something to watch again. just one basis point up. kind of a key level there, 3%. something to pay attention to. it was not bond leads. president trump tweeting about opec blaming the group for

higher prices. opec's president telling cnbc the organization is acting with what he calls a noble goal of rescuing the oil market. uae energy minister rejecting criticism that opec is trying to inflate crisis. >> the problem is if we keep the market over supplied or if we drowned the market again, what's going to happen? no one is going to invest and we will have a way bigger problem down the road so what we are doing, we're trying to incentivize invest again more than $2 trillion need to be invested to get back the last of investment that was done it's a bigger picture than looking at the prize today or yesterday and saying the prices are higher. as we said, oil not responding today very much crude oil is back below 68 here.

wti overseas the brent crude trade down .6% you have to pay attention. you have oil on the rise, bond yield on the rise and a yield that's jittery good to see you, drew. >> good morning. i wonder, is this a market that can withstand a hawkish fed, higher rates and higher oil? >> i would say yes because i think the economy can sustain it and withstand it we have to ask ourselves why it's happening because people are becoming more optimistic on the longer term growth i think that there's a lot of reasons where that's justified

we have the tax cut coming through for all of the talk about dysfunctional washington, there was a spending bill. more spending coming about the biggest thing we have to worry about right now are actually budget deficits if you take away the geopolitical risk. the only thing you're worried about is budget deficits. >> have we removed the risk? the move is a very good move i'm a little surprised the market is not reacting to it >> i think the specific case of show me, don't tell me it's not removed if you want to look at the delta or the change in these things, the change seems to be towards the positive on the geopolitical front pretty much across the board whether it's actual geo politics or whether it's trade >> can the consumer withstand sort of the double whammy of higher interest rates, if

they've got a variable rate credit card or loan that they may be adjusting and pay more? >> i think they can. oil prices have gone up but i look at it in terms of how does it take to pay for a gallon of gasoline that ends up being 6 or 7 minutes. it isn't particularly high relative to history if you look at it in that way. >> that's kind of depressing imagine somebody going into the office for 35 minutes and they're saying i just paid for 7 gallons of gasoline. >> i think what we've seen since the fed started raising rates is consumers become more confident. i think a lot of people post the financial crisis took advice

they extended out in terms of mortgages. they have fixed rate mortgages and i really don't think another one percentage point is going to dissuade someone >> is 3% -- listen, your trusty news anchor was making a big deal about 3% just about ten seconds ago. does 3% mean anything? round numbers. we like round numbers. we're simple folk. >> it is a psychological story it's more a psychological sense. the difference between 2.99 to 3 you won't notice. >> i push back only because will that number, it sounds a little better does it entice people to buy bonds instead of stocks? getting 3% now >> it might. to the extent that someone is -- has been waiting for that number and usually if you wait for a number, it's a nice round

number, right? when people go in and ask for a raise, they're not asking for $1.23. they're asking for i want $1, i want $2 an hour. so, yes, there's did he haefini psychological impact folks like you are going to make a big deal about it. this is going to be a chance to test whether brian is driving the world or not >> oh, my gosh don't say that i don't want to be driving anything right now i appreciate the confidence though speaking of oil by the way, interest rates, not to belabor the point, there's a reason gas stations price their gasoline at 2.99999 whatever and not 3 they've learned that consumer behavior i wonder if that 3% mark if we could get it, i do wonder if it's going to matter and change investor behavior because a lot

of people have done very well in the stock market over the last five to eight years and they're thinking, why get greedy >> i think that's fair and certainly 3% will get even professional investors to say, let's think about these things again. the more people thinking about making an allocation change ar the more likely someone will make it. i think the other thing to actually watch out for is the treasury refunding is coming up in the first week of may that's the big set of auctions they do every quarter. in that set of auctions there's a ten year note. 30-year bond >> i was going to say for those of us not that in tune, for an audience that's not an investment professional, why do they matter? >> the budget started off looking like it would be 500 to

600 billion. which is a big number. it's now looking like it will be 850 to a trillion dollars. >> real numbers. real money. >> you're getting to real money. the u.s. government has to fund that they've been doing a lot more in bills. for people who buy bills they would have noticed that. i'm probably going to say we can with stand the double whammy. >> the consumer might look and say, i can save more and maybe i don't need to save as much >> i have a weird feeling that we'll be doing "worldwide exchange" back from the permean basin. >> that could be good. in corporate news, ubs, the big swiss bank, delivering a big earnings beat with a boost from its investment banking unit.

jeff cutmor with more on ubs and why they're not responding with what looked like good news. >> reporter: absolutely, brian at a headline level the bank beat on the top and bottom line with a net property of 1.5 billion swiss franks a couple of things i think have disappointed one is that they are lagging well behind the u.s. banks in terms of capitalizing on equity market volatility and they had 17% up side in revenue on equities that lagged the 30% or so we've seen from the u.s. major banks, it's up beat as they talk about the numbers. you were talking with your guest about the ten-year treasury yield being up that is something that's on the mind of sergio ermotti, the ceo. >> it's a psychological issue.

if you get close to 3%, you go up to 3% i think there is an absolute and psychological element that we are thinking people will assess more to have a psychological level of 3%. maybe something we need to watch. >> reporter: and you know what, brian, it's europe again that is the issue here i think for ubs when you look at the wealth management business, they pulled in record in flows from the americas and from asia pacific, but europe still looks a little bit ho hum which is why sergio ermotti is focused on interest rate levels and wondering what that might do to equity market income going forward back to you. >> geoff, it's not just ubs. deutsch bank has made a lot of

news in the last weeks and days. how much of their troubles and big news making events are they affecting the ubss of the world at all are they affecting confidence? >> reporter: yes well, i think it's an opportunity. i said to sergio ermotti, look, they've got issues over at deutsche bank. you should be stepping in there and eating these guys lunch. you could be mopping up the clients, high hitters on the staff there and i suspect every sbank having a good look and seeing what they can poach sergio ermotti said, you know what, it's not our style to go out there aggressively trying to pick up business from deutsche but i would have thought this is a free swing of the bat for every company that thinks it can make in roads into germany.

>> geoff cutmore, thank you very much on deck, kanye west went on yet another tweet storm last night, except this time elon musk was on the receiving end. we'll tell you what he said about tesla and musk coming up. and we're on royal baby watch. live pictures of sait. mary's hospital the duchess is admitted. the duchess is admitted. "worldwide exchange" rolls on. inancial, which allows them to take advantage of growth opportunities in up markets, while maintaining a level of protection in down markets. so they can focus on new things like exotic snacks. talk with your advisor about shield annuities from brighthouse financial- established by metlife. if you'd have told me three years ago... that we'd be downloading in seconds, what used to take... minutes. that guests would compliment our wifi.

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welcome back thanks for being with us stocks futures indicating likely smaller drop at the open coming off of friday, a lot of folks getting spooked. futures relatively calm. dow futures down fairly sanguine given what we had on friday. it's early futures could turn around dramatically bonds, you have to watch those we're getting so close to the 3% level on the benchmark 10-year note, 2.99%. attention travelers, southwest airlines canceling 91 flights today so be sure to check your flight if you're going southwest. that is 2% of southwest's daily schedule that's on top of the nearly 50 flights that southwest canceled yesterday. they are doing more engine inspections following last week's mid-air explosion that

ended up killing a passenger the airline says the cancellations are voluntary and part of an accelerated inspection program it announced after the program. they were not the result of any emergency air inspections. they're utilizing spare aircraft where available. staying with airline news today, if you're flying on air france going to france, from france, whatever, check the board because 1/4 of air france's flights are going to be striking they silenced it and walked off the job demanding 10 dag ago time now for your top trending stories let's get back to bertha combs. >> brian, the kensington palace

twitter account announcing that the duchess of kensington, kate middleton, has been admitted to the hospital in the early stages of labor the betting on whether the new baby will be a prince or a princess is currently at 10 to 11 in favor of a boy when kanye west loves or hates something, he doesn't keep it to himself. this weekend it was love as the rapper took to twitter telling elon musk and the world how much he loves his tesla car. i really love my tesla, west said, calling it the fun car i've ever driven. the university of minnesota said it could be used in military robots it can be 3-d printed on the battlefield

we're coming up on summer internship season. harley-davidson is blowing away the competition. the motorcycle company will pay eight interns to spend the summer touring the country on a harley sharing their adventures on social media. at summer's end the interns get to keep their motorcycle and in the lead up to the summer movie season, paramount's "a quiet place" took the top spot in the third weekend. taking in 22 million over the weekend bringing in the total domestic growth to $132 million. brian, i don't think i could go see that one i'd see so little of it. >> i've heard, bert that, it's so quiet because the noise, the creatures that eat people's faces off -- let's get back to you put that right in the

middle, bertha did you say the army is developing giant robot squids? >> they're developing a material that works like a squid or a worm that is flexible so they have robots that can squeeze into places. this could be 3-d printed. it sounds like some sort of science fiction movie, that it could be 3-d printed on site that allows them to get into tight spaces so something like that would be very useful. >> wow i hope these are words we don't hear later on down the road in future somegeneral in a room saying send in the robot squid i never want to hear those words. bertha, thank you. now to the world of sports, thousands of runners taking to the streets of london this weekend for, guess what, the hottest london marathon on report rob pope set a totally different

kind of record he broke the guinness record for fastest marathon runner dressed as a film costume character. 2:36:28. his costume was the runner forrest gump is that really a costume, folks? he wore old running gear you decide. fire up the time machine we'll look back at the very beginning and show you the vy er first video ever posted on youtube. we're showing you for a reason, and it's weird we're back after this.

all right. starting to get a little busy out there, times square, 5:49. if you have to be to work at 5:50, you're going to be late because it's in 30 seconds the "squawk box" team has had their coffee >> you just said we've already had our coffee, is that right? >> have you?

>> tea >> i'mjust starting the coffee it's an iced coffee from starbucks. >> i thought they didn't open until 6:00. >> no, in times square they're open 24 hours a day. starbucks open 24 hours. yeah, we're open -- we, i say we, the royal we open the whole time so nonetheless, we are sort of calf fen na calf fin nated i've been up for three or four hours. i guess maybe no -- >> what time zone are you on >> what -- >> three hours ahead are you in greenland, the azors. >> i was in an undisclosed location for the last week i was eight or nine hours that way, i think is where -- >> which way is that are you going left or right? i can't tell your -- >> i don't know. if you were to -- >> if you went east. if you went east from where we were >> were you in maldova

>> we have a huge show i can't waste my time talking about coffees and directions. >> you're wasting his time >> i'm sorry >> you're eating this show. >> we have reddit's co-founder joining us a lot to talk to him about when it comes to what's going on in the world of social media. facebook, google privacy we're going to -- >> by the way, he's a new dad. >> and he is a new dad >> that's kind of a big deal. >> we will talk about daddihood and i like to think that he lives in his own right but has a famous wife. >> have you ever heard the story about how he met serena williams sitting at a hotel bar or restaurant and she was there and like he was on his computer, didn't know who she was. >> becky, i don't know if she has her mike on. she thinks it was at a party we may try to get to that. >> i think it was at a cafe in a

rome hotel. >> we will ask about the rome hotel. also, small business administrator -- she says we're not going to -- >> no, i think he's wrong. >> saying no, we're not going to ask about that >> either way, we might have a little bit of wrestling given that linda will be with us we'll have linda talk small business i want to get her thoughts on what's going on with amazon's role and dale folwell will be here. how he's putting his money to work these days. a lot of pension funds are struggling and we're going to talk about that. then you know this guy, scott wapner is going to be on the show you know why >> got a new book. >> got a new book. called "when the wolves bite, two billionaires, one company, an epic wall street battle." we will talk all about that. that's what's on tap

sorry to waste your time talking about coffee and directions. >> congrats to scott he's busted his butt doing a live show, writing books. >> becky quick calling me out, if i'm wrong i will deliver starbucks at like 8:00 a.m. to the "squawk box" team myself. >> okay. if i'm wrong i will deliver starbucks to you at 10:15 this morning. >> somebody will -- >> 10:15 this morning i will be there. >> you will? >> i there deliver coffee to you if you're right. i think it was a party that they were both at you think it was a random hotel where they met. >> in rome. >> in rome i love winning >> cheers to you >> cheers to you. >> how do you take your coffee >> cream and sugar i'm pretty boring. >> okay. >> i'll bring you -- not today but i'll bring it to you soon. we are on 3% watch for the u.s. treasury yield at 2.9888% here's the thing, check out this chart of the ten year versus the

dow over the past decade they're inversely related. this is the dow versus oil over the past decade, okay? you can see they track together. the guy has probably already had eight starbucks given the time zone we were going back and forth you were up way too late the dow stocks can support higher interest rates, we know that stocks can support higher oil prices, we know that can stocks support both higher oil and interest rates >> good morning from a very caffeinated chicago. i think the answer to your question is yes. you can see that i think it's all about the velocity we've talked about the velocity of these moves right now the ten-year note is grinding we're about to see a three-year tick and it's this velocity. remember 1995 when you saw the flattening yield curve people were very concerned i was a junior in south best

indiana. people were concerned about that what happened the next four years? we saw the stock market return 30%, 31%, 27%. four years of fantastic growth right now i think to answer your question the correlation between oil, stock, and moving interest rates as long as the interest rates grind and don't fly at the 3.25, yes. >> and with oil, both of them. it's a double whammy on the consumer, jeff. >> kind of the tail wagging the dog. think about oil. you can honestly say if you look at the chart in the last two weeks, sully, that movement of oil, the pop up to nearly $70. that has helped buoy stocks. we have earnings season upon us. the stock price and oil prices have correlated. right now the stated opec goal that we want to seize inventories, get back to five-year averages, we want to see the inventories come down. what have they done with the aramco deal on the horizon, they

have moved it. they've talked about the price of oil going to 100. that is a lot of rhetoric and a lot of jawboning it keeps a bid in the market when you see the global growth story still in take, it pins the way for higher oil prices, higher stock prices and a slow but gentle move. >> i like it an optimistic monday jeff, we love you. thank you, buddy. >> you're the best, sully. love you take care. a lot of love here the morning rbi. 13 years ago you know what happened the first video ever was uploaded by youtube. it's called me at the zoo. look at it >> all right here we are in front of the elephants. i'm hoping that they have really, really, really long tusks. that's cool. and that's pretty much all there is to say.

>> long trunks sublime yet with a brandoesque mentality that changed the world. random but interesting have a great day "squawk box" is next you know what's awesome? gig-speed internet.

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good morning get ready for a busy week of earnings yeah i hate to miss those with more than 1/3 of the s&p 500 coming and a dozen dow components, one dozen, a dozen set to report. ubs shares are sinking this morning despite a big earnings beat we have the list of the biggest movers straight ahead and the world is watching for signs of a break through on north korea's nuclear program. did the ten year hit 3%? >> 2.94, right >> i saw 2.95. may finally be -- no, 2.995.

>> yeah, yeah, may finally be the day. >> that's what i meant, sorry. >> we're getting an update on the ten year and the progress so far on what's happening with north korea. also the reaction from washington it's monday, april 23rd, 2018. "squawk box" begins right now. ♪ ♪ 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 kernen and andrew ross sorkin is back welcome back. >> how much did you miss me? >> a lot you look tan. >> no thank you because you don't want to look technician. >> you want a little bit of a healthy glow you don't want to be burned or brown. >> he was looking a little rn