it is 5:00 a.m here are your top five at 5:00 one of the biggest banks in the world prer pairiparing for signt jobs cuts. facebook moving higher after beating the street. ford slashing several sedans from its lineup. the company trying to rein in costs. the head of tesla's autopilot unit leaving the company for intel. and a high stakes sitdown as the leader of north korea and south korea formalize plans to meet it's a busy thursday, april 26 "worldwide exchange" begins right now.

♪ good morning from wherever in the world you may be watching i'm brian sullivan futures are basically flat the tug of war among buyers and sellers looks to continue today. you have the peak earnings crowd on one side and earning are still good and stocks on the other side what is the single biggest stock story of the day is facebook, that stock sharply higher. the company reported an earnings beat much more on facebookin a minute first let's get to some big news in the banking world deutsche bank says major job cuts are coming after the company reported a 79% drop in first quarter net profits. joining us on the news line from frankfurt, germany, banking correspondent for "the financial times. 79% overall, 74% net drop in the

banking division how does that happen >> it's just deutsche bank is losing market share in its trading activities they are really kind of suffering badically at the moment they are losing ground to competitors, big u.s. rivals which gained in trading activities in the first quarter. >> what kinds of jobs losses can we expect in the states and across the world >> they didn't give a number on the job losses so far. all of the restructuring plans are there, but it's certain the job losses would be in germany primarily, primarily in the u.s. so they will focus on investment banks in the u.s., activities which support european clients they will shrink the activities which are u.s. centered and they will do that in asia

they will also reduce trading activities in the u.s. >> reading your story on the front page of "the ft" my first thought was after all these changes are made, what will deutsche bank be how will we define it as a company? >> they have given up on the vision of being a global investment bank. they say they want to be a european corporate centered bank, which would be one of the market leaders in europe in investment banking but waving the white flag on the global aspirations. >> the biggest bank in germany getting smaller. 79% overall drop in net income olaf storebeck, thank you for joining us >> yes turning to the other big earnings story, shares of facebook are up about 6% now in the premarket.

first quarter results blowing away wall street estimates facebook continued to add users last quarter despite the company facing the worst crisis in its history at the end of the quarter. mark zuckerberg says facebook is investing heavily on security. >> we are going to invest even more in building the experiences that bring people together on facebook in the first place. over the next three years we will keep building facebook to not only be a service that people love to use, but also one that's good for people and good for society. >> let's talk more about facebook with the head of investment research at global data cyrus, great numbers no doubt i think it's important to remember that the majority of the data privacy and cambridge analytica and delete facebook movement was this month. so if we see reaction, correct, it would be this quarter, and

not reflected in last quarter's numbers. >> i think there's two ways to look at it congratulations to facebook, absolutely fantastic results this quarter i think facebook as a technology company, on a theme atic level, they are firing on all cylinders. in terms of social media, internet tv, the next big cycle, they'll do well. they're investing in artificial intelligence, cybersecurity, the big risk for them, the big cloud coming over 2018 is regulatory risk because we have not seen facebook users leave in the last quarter, it doesn't mean that regulators and facebook won't have a clash in the next quarter. >> that would be this quarter as well the cambridge analytica stuff came out right around late

march. of course zuckerberg testifying in april, which would be this fiscal quarter if you analyze the company, do we throw away the first quarter er do we sort of view it where the first quarter mattered, but this will be the quart their determines whether or not people really turn their back on the company. >> i think it's this quart their matters and the next quarter it's two issues, it's not just consumering leaving facebook, turning their back on facebook consumers, most of them, will continue to find this platform irresistible the real issue is what regulators will do 2018, our risk screens show 2018 will be extremely high risk for the internet advertising sector, in terms of regulatory risk and within the social media sector regulators are looking at data privacy and protection in 30 days time, europe will

have gdpr come in. that's a big issue antitrust, facebook is less of an issue with antitrust. amazon and google may be impacted tax avoidance, anti-social behavior, obstruction of justice, whatsapp denying access to the authorities when a crime is committed but the really big one is facebook's status as a content platform versus a publisher. >> that's it, right? the last thing facebook wants is to be labeled a media company. because if you're labeled a media company, at least here in the states, you may be subjected to the rules and regulations that we face in the media, which is more stringent, correct that would be a bad thing for the company. >> yeah. correct. for us, all the evidence is suggesting that facebook's status as acontent platform an content aggregator is more and

more unjust fiib justifiable >> thank you you have to watch apple's stock today. another major apple supplier is announcing potential bad news on the iphone x samsung electronics warning about a slowdown in its display panel segment, that's the business that makes screens not only for its own phones but for the iphone the company said the latest results were impacted by low demand for those pab panels, ant expects the weakness to stick around let's check on some other potential big stock movers glad to have meg how are we so lucky to have you at 5:08 a.m. on the east coast >> it's just you, brian.

i want to come in early to see you. >> no. >> chipotle, the burrito chain's first quarter profit and restaurant sales beat forecasts. increases in menu prices helped offset a drop in customer visits we will hear more from chipotle when brian niccol joins squawk on the street. and paypal beat on q1 earnings thanks to higher mobile payments. and visa is raising its full-year guidance they have seen card payments grow thanks to higher spending in the u.s. and higher oil prices now let's talk ford. first quarter profits topped estimates. ford plans to step up cost cutting plans that includes dropping all but two small car

models in its lineup due to decline in demand and profitabilities from trucks to banks. barclays swinging to a net loss in the first quarter due to a $2 billion mortgage settlement in the u.s and shell is reporting first quarter profit rose 42%, that's the highest in three years the big driver, rising oil prices and production. the company plans to buy back 5 $25 billion in stock by 2020 brian, i believe it is now over to you >> meg, in this business, we call that a reader that may have been the longest reader in the history of readers. >> very long but very enjoyable >> we'll see you back for trending stories. tesla says the head of its auto pilot program, jim keller, is leaving to focus on semiconductor engineering at a different company. and the "wall street journal" reports that that company is intel. keller came to tesla in 2016 from amd

he took over the autopilot program last year. that program under scrutiny after the model of a vehicle died last month due to the car being in that mode we're just getting started here in the 5:00 hour. coming up, we're headed live to the korean peninsula and later on, the first lady getting the wax treatment. s e melania trump sculpture that haeverybody buzzing today. busi, doing more with systems you have in place. it can bring all your apps to life and run them within your data center. it is... the ibm cloud private. the cloud that's built for all your apps.

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still yes! xfinity delivers gig speed to more homes than anyone. now you can get it, too. welcome to the party. welcome back you're looking at a live shot of the hong kong harbor a foggy day in hong kong let's check the action in asia a bit foggy in the markets, too. the major chinese indexes, shanghai and hong kong fell more than 1%. the bright spot is japan let's stick with some big news out of asia south korea announcing plans for a landmark meeting with north korea. officials say that kim jong-un will cross into south korea tomorrow to meet with his south korean counterpart this would be the first time a north korean leader has crossed into the south since the 1950s

let's bring in eunice yoon live from seoul not to make too much of it, i don't think you can, this kind of meeting, first time in 60 years, it's a major step >> absolutely a major step it's being seen as a historic moment for south korea it's just going to be less than a half day away where the leader of north korea is going to be meeting with south korea's president, moon jae-in what's on the agenda is a full day of meetings including dinner the summit will be taking place right on the border. at the end of it all the two are expected to issue a joint declaration, trying to issue a statement about peace, also potentially ending the korean war, which is technically still being fought today the event is significant, but it's also seen as a warm up act to president trump's meeting with the north korean leader

this is just one stop in what is seen as a much larger process to get seoul, pong young -- pyongyang and washington together you might say as an investor what does this mean for me the answer is behind me in this lg store south korea is indispensable when it comes to global supply chains and electronics apple and sony supply displays, memory chips from this country some of the factories are close to the north korean border we're in the south korean city of paju, a major production center for lg display an other lg companies this complex is the world's biggest manufacturing hub for the panels that go into your tvs. four-fifths of lg's large displays are produced here

in 2015 the company announced plans to add $9 billion to buil a new plant on the grounds the thing is this place is about as close as you can get to the north koreaen border how close? let's go for a drive well, we can't drive further, the demilitarized zone, the border between north korea and south korea is a few miles past the river. we are clocking in at 17 minutes to go 9 miles from those lg facilities it goes to show how vulnerable some of south korea's electronics factories are if a war were to break out. any conflict here would ripple through the global economy i asked some lg companies about their contingency plans in case there were to be a conflict. they said they wouldn't comment on that, but that's why it's so important this summit and reducing tensions comes to play,

because of the fact it could remove a tail risk from the global economy >> fascinating piece, eunice i'm jealous. this is a historic moment there. it's going to be a memory to be a part of it we look forward to your reports. thank you very much. up next, the big senate vote stateside that should be on your radar. we're live in washington with more plus the big buzzer beater that has all the sports world talking today. first, as we head to break, here's your national weather forecast from a man who always sinks the bucket nbc's bill karins. good morning, brian. on this thursday watching this rainy, soggy storm we've been tracking for five days heading up out of new england. still raining in boston. areas of maine will get rain on and off. getting a bit better this afternoon. we have another rain storm, no thunderstorms, just a soaking rain through mississippi, memphis, nashville, that will push into alabama. let's track that over the next

48 hours we push that rain towards mon montgomery tomorrow morning we check this rain up around washington, d.c. to baltimore for the morning rush shower. it will go through new york city for friday afternoon, then gone by friday evening. ggt y, just dealing with tha soy forecast in areas of the northeast. more "worldwide exchange" when we come back

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a live shot of capitol hill on this thursday morning the senate expected to vote on the president's pick for secretary of state tracie potts is live in washington with more on that good morning we are hearing a couple of things about the president's nominees and potential cabinet members here on capitol hill, including mike mpompeo who could be confirmed by the end of the day. cia director mike pompeo is said to become secretary of state today despite concerns his foreign policy is too aggressive >> there were questions raised. >> a yes vote is expected from every republican and four democrats. while that's happening the current epa director, scott pruitt, goes before two committees to answer questions about his budget and how he spent government money

questionable travel, raises, and a cheap kocondo rental from the wife of a lobbyist >> i don't have tolerance for people who abuse taxpayer money. >> reporter: not happening today, a confirmation hearing for president trump's doctor, ronnie jackson his nomination as secretary of veterans affairs is on hold amid new allegations given a huge batch of opioids to a white house employee and wrecking a car while intoxicated. >> no, i have not wrecked a car. >> none of those things have come up in the four separate background investigations that have taken place >> we've seen a pattern of problems that people deserve to know >> he deserves a chance to tell his side of the story. >> reporter: but there's no word if or when that will happen. despite dr. jackson telling nbc directly things are moving

forward, it is said he could remove his name from nomination, he's been talking about the white house about doing so as early as possibly today. >> big news, tracie potts, thank you very much. let's get more on your national headlines from phillip mena in new york good morning a decades old cold case may have been solved. police arrested the man they believe is the golden state killer responsible for a slew of murders and rapes in the 1970s and '80s the suspect is a former police officer. investigators say discarded dna evidence led to his capture. president trump's long-time lawyer michael cohen says he will plead the fifth in the defamation lawsuit filed by stormy daniels he cited the ongoing criminal investigation by the fbi and his attorney as the reason.

and former president george h.w. bush could be coming home from the hospital as early as tomorrow he was removed from intensive care to a regular room the 93-year-old thanks everyone for their prayers and good wishes brian, back to you >> certainly our thoughts with the bush family. been a long couple weeks for them up next, pollen and profits. the big money in itchy eyes this allergy season and a big interview later on on "squawk. jim chanos will sound off on everything from tesla to bitcoin. you won't believe what he says "squawk box" at 7:00 a.m. eastern time "worldwide exchange" will be right back - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up!

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a ton of big-name results setting the tone on wall street. and facebook blowing away expectations we'll dig in on the numbers. and why investing in this allergy season is nothing to sneeze at. we'll explain as "worldwide exchange" rolls on after this.

welcome back thanks for being with us on cnbc i'm brian sullivan good morning here's how your money and investments look now halfway through the 5:00 a.m. hour on the east coast stock futures giving us zero help up 41 on the dow down on fair value basically let's call that flat the bond market, the numbers to watch, 3 the magic number. and we're at 3% on the ten-year bond as for the broader markets now, oil up a tick, back above 68 bucks a barrel the dollar up a bit against the euro gold up a dime against itself. on the crypto side, bitcoin at about 8731 depending on the exchange that's down 11.5%. facebook, your big single stock story. earnings strong. that stock is responding up more than 6% in the premarket now and let's talk more about facebook as well as the broader markets. joining us is craig johnson,

chief market technician from piper jaffray an company super early out west here's the thing, you called for and we'll reiterate it, a pop -- a hop, a drop and a pop. are we in the drop phase of the market now >> brian, we're still in the drop good morning, by the way it is early, but great to be back on the show we're still in the drop phase. we just published our april informed investor publication. brian, we titled it keep your powder dry we think there will be more in a deeper pullback. more time required here's why if we look at the popular averages, we're putting in lower highs. this is basic technical analysis 101. you look at the volumes on up days, you have much lighter volume on up days than you do on down days. as you digest through this, look at companies like amazon and stocks like netflix. netflix puts up great numbers, it's not making new highs.

it's rolling over. a lot of these f.a.n.g. stocks, even though you're putting up good numbers, they're getting sold into. facebook, a moment ago we sold that out of our recommended list yesterday for the fact it broke a long-term uptrend. had a great relief rally had a great number yesterday but that's a rally that will get sold not bought. >> you think the longer-term chart does not look that great >> that is correct i think a lot of investors out there, big portfolio managers, they own a lot of facebook they're looking at this with questionable marks about the regulatory environment going forward. l big liquidity events, this is what they need to sell the stock. they need those liquidity events because there's not a lot of liquidity in the market now. this is an opportunity to sell it, not be buying it >> we know these stocks, the f.a.n.g. stocks, whatever you want to call them are important.

they're big, they're big percentages. but from a technical point of view, how important are they are they not important can the market go up if they don't? >> the four or five largest f.a.n.g. stocks out there represent over 30% of the nasdaq composite's weight if you look at amazon, you start looking at netflix, you look at these names, the correlation of all these big large f.a.n.g. stocks has become closer to the s&p 500. so i'm not sure you will get the market -- in fact, i don't believe you will get the market to go higher without the f.a.n.g. stocks. that has been the leadership over the years when that rolls over and fades, that's not technically a good sign for the broader market. that's why we think you need to keep your powder dry wait for the market to correct i would say 1325, 1350 is where you see the s&p correct back to.

fundamentals will say that's the same valuation metric at 1325, 1350 that we saw in 2013 >> you got in the wrong elevator you have to go back down before you go back up how confident are you that that pop will happen, that we can reverse this and end the year higher, at least from where we are now or where we'll end up according to you >> well, for my perspective that correction phase resets the bar. i'm confident that can happen. you will start thinking about your 2019 numbers moving past the fourth of july, you start thinking about 2019. at that point we can do that the market will look cheap and you have reset the technical perspective. it's good. likely to be trading off 2019 numbers. 2850 year-end. it will be a fun trade we do need to trade stocks to

get there to drive alpha for the portfolios >> if the leadership, if big tech, you're right about facebook and leadership rolls over, who is our new leader? is there any other segment you see that looks good, is it maybe energy >> well, that's a great point. we are overweight basic materials, overweight energy, and still overweight tech. but some old tech names look constructive while we'll roll over the f.a.n.g. names, perhaps the microsofts take over and other parts of tech lead again energy, i think, is at a great spot big portfolio managers need a place to go. if they're trimming back the f.a.n.g. stocks, maybe come back and buy energy names, schlumbergers, halliburtons, chevrons, exxons, the charts look good. i'm not sure that's leadership, but it's a place to go over the next several months. perhaps even longer. i would also throw out to you

walmart. if you need a place to high, here's a stock that is already reset. lots of potential for that name to hide in >> craig johnson, we'll let you get back to bid. thank you very much. >> a few analyst calls breaking this morning three on twitter twitter upgraded to market perform from underperform, and up to buy from ubs, and the exxon theme is advertising growth the stock is up 88% the past 12 months chipotle mexican grill upgraded to neutral from sell. the analyst pointing to the new vision to build sales and improve margins. boeing up to buy from hold at societe generale, this call follows better than expected

results from boeing yesterday. time for the top trending stories. meg tirrell is back with those >> kanye west's love for the president is not new as he famously visited trump tower after the 2016 election, now kanye is declaring that love in a tweet saying you don't have to agree with trump, but the mob can't make me not love him we are both dragon energy. he is my brother i love everyone. i don't agree with everything anyone does. that's what makes us krids and we have the right to independent thought. and now you can see the first laimmortalized in wax at madame tussauds's museum. and even royals are not immune to the exhaustion that comes along with parenthood. new dad prince william was

spotted dosing off at a service in westminster abbey with three children under the age of 5, including a newborn son, no one could blame prince william, though he did make a valiant effort to hide his fatigue. back over to you >> his wife, they welcomed another life into this world, he has two young kids at home the fact he's there, wearing medals, he should get a medal for being there. >> a medal for wearing all the medals >> a medal for the medals. meg, thank you very much to the world of sports the first round of the nba playoffs, the cavaliers took it to indiana last night. lebron james, he's the hero again. he broke a 95-95 tie buzzer-beating three-point jump shot that's a dagger in the pacers. the victory gives the cavs a 3-2 advantage on the series. lebron james after that shot jumping up on to the scorer's table. lebron, be careful they need you. happening now, facebook's chief technology officer

appearing before uk lawmakers. they are questioning him on the spread of fake news on facebook. we will monitor this hearing and bring you any headlines as we get them coming up, the big money in saying bless you why this allergy season is nothing to sneeze at and a ton of biotechs reporting results today. name shas should s that should r radar when "wex" returns

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according to the calendar its springtime a beautiful shot of the capitol. i think the cherry trees are in bloom. spring means allergy season is in full bleoom. there's money to be made in those itchy eyes meg tirrell has more >> if folks are in d.c. this season, they may be feeling itchy with the runny nose and runny eyes because of aily season look at this >> reporter: each spring the national cherry blossom festival draws more than 1 million visitors to washington, d.c. visitors like 74-year-old sandra zarkowski, who loved the few but hated the way it made her feel >> it's deceptive when you see something so beautiful and it

knocks you over. you can't sleep or breathe but i cope >> reporter: she is one of 50 million americans who suffer from seasonal allergies, which cause irritating systems like stuffy nose and itchy eyes but also more serious effects, from coughing and wheezing to asthma attacks this allergist at nyu says seasonal allergies are getting more severement. >> climate change is a big reason for that. because our carbon dioxide levels are higher, the pollen is more potent and the plants are almost producing super pollen. >> reporter: allergy medicines are a big business for the pharmaceutical industry. that's just for over-the-counter products like zurtec, flonase and clairiton. the costs can add up

but for jessica fuentes, going without allergy medicines is not an option. >>ly i will be a waterfall of boogers all over the place >> we tend to think of allergies as a nuisance, but they can be serious, they can trigger asthma attacks and be more serious. >> i think the viewers know from my voice, i feel like i could take my skull off, scoop it out. did she say waterfall of boogers? >> she did >> 5:43 in the morning, we already said waterfall of boogers. >> it's going to be a great day. >> could be a river of snot. >> yes yes. >> stick around. if you're not busy enough, you will get real busy we're getting earnings from a bunch of biotech companies in the waterfall of earnings will you be watching >> a bit better. less graphic

bristol-myers coming out they've been in the news a lot because they and their competitor merck had huge lung cancer data. bristol-myers data was not perceived as well as merck's was. people will be listening in on that call to find out what's next for that drug abbvie also coming out this morning. they have pressure because their biggest drug, humera, people wonder how long that revenue will last. the question for all big drugs is how long is that patent life going to last. >> what else is on your radar today? you have a lot of stuff. >> shire, takeda, that kedeal looking like it will happen. $64 billion. >> they are both foreign-based companies, japan and england or ireland. what are they known for?

>> shire sells the adhd drug, and it purchased bexalta which makes drugs for hemophilia and takeda makes drugs for cancer they have been a big consolidator people wonder when other big companies will buy they have been hoping m&a will be picking up. >> this deal, we learned if you're a banker say no, no, no, the first time say yes when they keep jacking the price up. >> that's how you get bigger wall valuations. the "squawk" team has had their coffee or decaf. let's find out what's coming up. becky quick what is coming up on "squawk box" >> we have a special show today. today's program brought to you by the letters c & whh. at the top of the hour, we have

peter and steve. we have steve chobo, minute fer of foreig -- palestinian cent- minister of foreign affairs for china. we have jim chanos we will talk to chuck stevens, cfo of gm about their results. and we'll talk, of course, about chipotle and as i mentioned china. we have a guest who will be talking to us more about china and a special guest joining us today, brian chullivan >> i love brian chullivan. >> i changed your name the waterfall of boogers caught my attention, too. >> that could be the phrase of the day. i will enjoy joining chanos and the rest of the crew >> we will see you coming up you'll be here at 7:00, right? >> assuming the towncar can get

through new york traffic >> you can it's still early rush a lot of stuff coming up >> i'll bring swedish fish, coffee and good news >> isla'll hold you to that. future ceos are up and at it this morning why these brave kids are up so early. stick around

welcome back that's times square. futuring pointing e ining futur higher open. joining us now is michael farr, president of farr, miller in washington we have 3% yield on the

ten-year i thought that was supposed to be raining fury down on the markets and strong stocks woul go up again. >> sometimes things are not quite as bad as we predict or as awful as feared. it does make it more expensive for corporations to operate. i think it makes a bit of a difference, but the world has not ended. we did not see panic on wall street >> why not we didn't get there fast enough? everyone says it is the pace, not the number >> i don't buy it, brian 3% is 3% it goes higher it's like when you look at futures. it has a psychological effect. before i came in this morning, we were up 7 or 8 points on futures. i just care it's a bit green it doesn't matter that it could have been 8 points down in the

red. we just like to see green. when it gets above that 3% level, it's convincing folks that they will go higher, right? the fed is doing what the fed says they'll do. and that changes the costs of mortgage rates that changes the costs of credit cards. that has an effect on the consumer who does not have bandwidth for extra spending >> i have to be careful, the guy is probably watching now a buddy of mine a few days ago when the market fell 500, he text me a shot of his iphone portfolio, it was like facebook, amazon, netflix, the f.a.n.g. stocks plus a couple others. i'm thinking, dude, you're buying what everyone else is buying has it been an era where -- no offense to me friend, that the dumb money has made a lot of money the last five years, and that can't be the case anymore you can just buy the same five, ten stocks and look a genius >> you do and you have

if you follow the herd and the herd is doing well, that's great. when things turn you get trampled the biggest thing is what is coming out of the federal and higher rates, and will economic growth be sufficient to withstand the headwinds of higher rates more and more i think it's not going to be just a matter of how much you're making in the markets as you have in previous years, but how well your portfolio is kind of hanging together it's much more important to know you have real balance sheets, that these companies sell real things not all f.a.n.g. stocks are the same if you look at facebook and google, they have real earnings. facebook's earnings last night, fabulous tons of cash i like this company. i own this company >> but i've already seen

headlines out this morning, not knocking the media, three headlines already, facebook bucks crisis and has this huge quarter. let's be clear, the numbers that we saw last night are not reflective of the crisis, are they the crisis broke at the end of the last month in the quarter. zuckerberg testified this month. so if we're going to see a negative effect on facebook, it will be this -- no disrespect to last quarter, i'm not sure it's representative of anything for facebook >> i got it. but we're long-term investors. my average hold on a stock is five years i'm looking at a company, they're 3 1/2 billion internet users around the world facebook has about 2 billion of them they have great engagement they pared back their engagement at the end of 2017, psychological engagement, that gaming factor they use, which means they can up it you have a company with a lot of

cash, good earnings, two-thirds of the world's internet users. this is a company i'll stay with, i think, for a long time >> they say i have two friends and three of them are on facebook are you a buyer into this energy move that we've seen lately, michael farr the big stocks, boring big cap oil stocks, they outperformed most big cap tech stocks the last couple of weeks >> it's been a wonderful thing i own a couple of them yeah i kind of think so supply and storage of oil is low. chevron and exxon i don't think they'll be top performers short-term, but long-term, strong balance sheets, great business models and wonderful divide dividends. you get paid well to sit there and hold those oil stocks. 3% and 4%. with some of these companies, yes, you own those balance

sheets, they'll protect you. stick with this energy rise. >> we ran a twitter poll i want your answer never had a poll come in 50/50 i asked this, can stocks go up if interest rates and oil go up? literally half said yes. half no. what do you think? all three at the same time >> yes i mean, of course they can because we see stocks do a lot of things that are inexplicable and at times really don't make sense when you look at the fundamental economics. when you see those headwinds of higher expense, you are betting on higher growth we have not had a problem in the economy of demand. we have not had enough demand, but we have had plenty of supply plenty of cash, plenty of low cost cash with these low interest rates so some of those headwinds are changing

the economy is growing things are in good shape i don't think stocks are overvalued i don't think we're through the roof we're not cheap. keep your powder dry, stay the course things are changing, but it's the interest rates you have to watch. >> just wait it out, things will be fine. thanks >> thanks. see you in an hour today is bring your kid to workday across america guess what we have a bunch of "worldwide exchange" sons and daughters who got up super early hi, kids these kids, by the way, who are just awesome, they are generation z your morning rbi has to do with millennials. this is random but interesting there are 83 million people in america born between the years 1982 and 2000. the millennials. nearly 10 million more than the boomers. here's the thing you know what the most common age in america is? 27 more 27-year-olds than any other

age. it's random but interesting. when all those 27, 28, 29-year-olds, all those millennials start having those cute ltlite kids of their own, can you just buy diaper stocks and let it ride? you know what's awesome? gig-speed internet. you know what's not awesome? when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids, and these guys, him, ah. oh hello. that lady, these houses! yes, yes and yes. and don't forget about them. uh huh,

sure. still yes! xfinity delivers gig speed to more homes than anyone. now you can get it, too. welcome to the party.

good morning it's the single busiest day of the earnings season. we have 66 companies set to report we'll keep you up to speed. facebook and chipotle rising sharply after beating the street and then big changes on the korean peninsula kim jong-un is planning on doing something that no north korean leader has done since the '50s it's thursday, april 26, 2018, "squawk box" is about to begin 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 andrew ross sorkin joe is out today mike santoli is here we will tell you why we're playing that lots of ch guests here today including our first two market guests jim chanos is our guest host today, too we're watching u.s. equity futures this morning yesterday the dow ended higher it was helped out in large part by gains from boeing, which reported better-than-expected earnings this morning looks like the dow is indicated to open up by