it is now 5:00 a.m. at cnbc global headquarters. your top five @5 the dow on a seven day winning streak the bulls look to continue that march today. trade talks. president trump saying he wants to get a massive chinese tech company, quote, back into business fast. those comments come ahead of high stakes negotiation this week happening right now, an historic day in the middle east. the u.s. opening the embassy in jerusalem. another big win for billionaire carl eicahn. apple ceo tim cook gives a

graduation speech at duke. he takes a couple of jabs at facebook and google. it is monday, may 14th and wo d "worldwide exchange" begins right now. we will try this morning happy monday good morning from wherever in the world you may be watching. i am brian sullivan. eight may be enough more maybe not. if the markets are correct right now, we'll have another up day for the dow. indicating and stock futures indicating we'll see another 100 point pop. still up seven days in a row today looking like in the early go we could make it eight. ten year yield trading at 2.9, 2.97, 2.8% if we go global in asia, the major indexes are higher as well no massive gains seeing japan up half a percent

hong kong the big winner up 1.4% let's get a check on how the markets are trading as well. german dax is down as well a little bit of red. let's get a check on the commodity side of the markets. oil becoming the most important money story. oil is slightly lower state side still above 70 gasoline prices much higher than before this time last year so by the way is the dollar. at 119.96. gold and watch the cryptos the coin taking a hit down 3% on coin base. other cryptos down zimbabwe the latest company to ban all banks from dealing in krip tows. country, not company you get my point joining us is edward campbell.

managing director at qma seven in a row today based on the futures, could be eight. are you surprised at how strong the stock markets have been lately >> not surprised. >> happy >> happy to see the market -- >> happy clients >> -- getting back on track. this has been an interruption of the bull market more so than the end of the bull market we may have more churn before we move higher. we'll likely put in a decent year >> cover of barons screaming in red ink, corporate buy backs because of tax reform. how much do you think corporations are helping their own cause versus just investors saying i still want to make some money in stocks? >> well, i think it's -- the buy back's a part of it. i think the buy backs are easing because one of the things we're seeing more recently that it has

been a missing ingredient in this is the missing cap ex we've seen that in technology development. i think valuation, right we started the year at an 18 and a half pe ratio. corrective action and booming earnings has brought it down to 16 it's much more in line and a healthy base upon which to help future earnings. >> what's the most important thing to you is it oil, the fed, interest rates? what's the key driver? >> i think the key driver is that wecontinue to be in an earnings expansion. >> still >> we're not going to see the eye-popping numbers that we saw this past quarter, quarter after quarter. we expect those to ease. you did mention some of the risks in terms of the fed, in terms of oil

i think oil prices will have to rie rise the types of oil prices have been 100 to 150% increases in the oil prices we're seeing a 50% -- >> 70 is one of those areas where it's like okay the oil company is making a little money, drillers are making money, consumers aren't getting crushed. everybody wins, nobody is losing scenario. >> i think so. if you think about the big decline that we've had in the increase, we're getting back to levels where, you know, i think 60 is probably the sweet spot for the global economy where it's sort of the balance between those -- >> saudis would like that higher. >> united states is much more of an energy producer today than 15 years ago. the big prices, although they hurt consumers at the pump, they're leading to more jobs, more investment.

>> but you are, my friend, paid to worry, paid to worry about your clients and people. you have oil okay. earnings are good. things are pretty good right now but you have to worry about something. >> yes. >> what is it? >> it's the usual -- >> not to be negative on a monday morning. >> the usual list of suspects. i tend to be pretty sang win about the inflation risk those are definitely out there wages are contained. i would guess geo politics we have some good news and they seem to be easing. the geopolitical risks are out there. >> they seem to be cooling off i'm not a big believer in the vix. but if you watch the vix -- >> we're back down. >> it says the world is pretty calm. >> right we had that big spike and we thought we were going to be in much higher volatility

environment. >> a vix at 20 is the new vix at 40 when you say big spike, there it is yeah back up to 40 for about a cup of coffee the world is looking fairly calm. >> right although that looked pretty high compared to the record low vol that we had for the entire calendar year of 2017. >> overall, ed, bottom line, sounds like you remain optimistic. >> i am. we're over weight equities we think the bull market is not over yet like i said, this is an interruption and we're likely to get back on track. >> pleasure to see you bright and early on this monday morning. >> great to see you, too, brian. today's top story is at the intersection of business and politics president trump offering a concession to chinese telecom company zte. if you remember, zte was forced to suspend operations after the

u.s. banned the country from selling to the company for seven years. he is working with chinese president xi xing pick to give zte a way to get back into business fast. we'll be heading live to beijing for a report on this in a couple of minutes. right now let's get more corporate news a big win for carl icahn xerox abandoning its plan deal for fuji film. bertha combs joins us. >> this reminds me sadaka song, is hard to do. there's a new settlement with the two shareholders, carl icahn and diesen jeff jacobson will be replaced and the board will be

overhauled the company had previously struck a deal with icahn and diesen to oust jacobson. that settlement expired before a court could sign off icahn and diesen had opposed the merger and planned to launch a proxy fight. now the new board will be exploring strategic measures they say xerox could be sold to a competitor xerox is slightly lower in premarket trading. fujifilm looks like up a bit more than 1.5% in japan, brian breaking up a little hard to do. >> way too early for that, bertha the other big money stories include airbus the cfo will leave next year this has been seen as a possible successor for tom enders who's

also leaving airbus in 2019. watch tesla, it is losing two more top executives, at least one of them temporarily perhaps. matthew schwal was the main technical contact. he has left to join waymo. late on friday tesla said its engineering chief doug field is taking a leave of absence to, quote, recharge. brookfield asset management has made a $3.3 billion for health scope. it topped a bit for a pension fund. in other corporate news, walmart may take yand's flip cart public four years from now. walmart said it was buying a 77% stake in the company now in a u.s. regulatory filing walmart says an ipo should be done at no less a valuation than

what walmart invested in flip cart up next, president trump saying that too many jobs were lost in china. why he's worried about getting a chinese telecom back in business. later, we'll drill down more on oil what is driving the market and what it means for your mon aeynd prices at the pump stick around this endangered species is getting help from some unexpected friends. these zebra and antelope. they're wearing iot sensors, connected to the ibm cloud. when poachers enter the area, the animals run for it. which alerts rangers, who can track their motions and help stop them before any harm is done. it's a smart way to help increase the rhino population. and turn the poachers into the endangered species. ♪ ♪

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welcome back and good morning. 5:13 in the east money investments are shaping up and another good day for the equity markets the dow is on a seven day win streak if futures are any indication we can make it in the applied open is up 105 points ten year treasury note just a smidge below 3%. j.p. morgan chase naming a new china ceo. he'll manage the on shore and off shore in china separately they've submitted an application to a chinese regulator to start a new on shore securities business. they would own 51% of the business china news president trump says he is working with chinese president xi jinping to get zte back to

business up neunice un has the story. >> reporter: this will be brought up by the chinese when they go to washington. they confirmed that vice premiere is going to be in washington, d.c., for the week he's going to be there from tuesday through saturday he'll be meeting with the u.s. delegation that is led by u.s. treasury secretary steve mnuchin. i spoke to one person who will be traveling with the vice premiere from the chinese side, they are expecting some tough negotiations he said so far on his side the chinese have been taken aback by what he described as the trump administration's not so polite approach he said that the chinese feel like they're being ordered around, they don't like it and

they hope they'll be able to get an agreement with the trump administration on a set of principles on the way you negotiate as equal partners. now he also was talking about a couple of other points he said that for -- that the chinese feel and understand that the trade deficit and narrowing it is a top priority for the trump administration but that the chinese feel they're being given a moving target. he said the traf deficit depends on who buys what this is something that is not completely within their control. he also said that he, of course, wasn't really going to get into the details as to what the chinese priorities are but that the gap is very big and they're hoping to talk about everything and that includes, like i said to you earlier, zte. he said that the chinese were given some hope when they saw trump's tweet and he said that

that really gave them some room and space for negotiation. >> eunice, in local media there in china, is there any indication this is calming tensions at all? that trump's comments may be walking back some of that rhetoric which has ticked off so many people in the chinese business community >> reporter: in the state media there's been a lot of reporting of how this is just a sign of trump's failed trade policy and that perhaps we're seeing here a weak weakness on the part of the trump administration what's interesting is how social media has been reacting. you have people nationalistic, they support zte there's been plenty of criticism of how zte has been able to get themselves into this situation and bebillederment on the part of this public on how dependent

they are on the united states. >> eunice yoon, a big story and one that will get a lot of attention here and in china. on deck, what apple ceo tim cook said over the weekend that will certainly tick off facebook and google. hawaii on high alert authorities issuing a scary warning. let's get a check on your national weather forecast from nbc's bill cairns. good monday morning to you, brian. following mother's day weekend, we have a very active weather pattern out there. a 30% chance of a development into a tropical or subtropical storm. no damaging wind or anything like that. then on the other hand we have to deal with severe weather. 33 million people at risk. we call this the ring of fire. summer like temperatures throughout much of the south and mid-atlantic and around that we'll have a chance of

thunderstorms with wind damage dayton, columbus, all the way back down into virginia. very hot in atlanta to dallas. it's actually okay today northern new england up to minneapolis. a lot of active weather. more "worldwide exchange" when we come back the sure shot wand extends with a protective shield and target weeds more precisely, right down to the root. roundup. trusted for over 40 years. you're more than just a bathroom disease.. you're a life of unpredictable symptoms. crohn's, you've tried to own us. but now it's our turn to take control with stelara® stelara® works differently for adults with moderately to severely active crohn's disease. studies showed relief and remission, with dosing every 8 weeks. stelara® may lower the ability of your immune system to fight infections and may increase your risk of infections and cancer. some serious infections require hospitalization. before treatment, get tested for tuberculosis.

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stock futures indicating the dow could make it eight gains in a row today. continue to gain strength. futures up 111 points. oil sitting up and towndown a ll bit. apple ceo tim cook continues to duke it out over privacy issues. speaking at the graduation of duke university where he went to business school, cook encouraged graduates to, quote, be fearless and reject the status quo. that's not what's going to make headlines. cook threw jabs at facebook and google >> we reject the excuse that getting the most out of technology means trading away your right to privacy. so we choose a different path, collecting as little of your data as possible, being thoughtful and respectful when it's in our care because we know it belongs to you.

cook graduated 30 years ago. it is an historic day in israel. the u.s. moves its embassy to jerusalem. tracie potts has more on the big story. >> hi, brian good morning historic and controversial we've seen protests starting over the weekend not just in jerusalem but in zbaz. the u.s. breaks long standing policy with this embassy move. protests over the weekend are expected to grow today as the u.s. opens the new embassy in jerusalem. >> the united states has no greater partner than israel. >> reporter: treasury secretary steve mu chin, jared kushner and ivanka trump are in israel this morning. president trump set to speak by video. >> people will be eternally

grateful for his bold decision. >> reporter: the palestinians who claimer russ suh lem is their capital accuse the u.s. for picking sides. they say, quote, this move marks the end of an era when the united states led international efforts to supposedly achieve the two-state solution >> i think recognizing reality always enhances the chances for peace. >> until the palestinians rec n reconcile under one flag there will never be peace. >> reporter: today's opening walks right into it. >> didn't we already, tracy, have some staff located in jerusalem? >> reporter: right. >> not a complete all to nothing. >> reporter: we had a cease is a passport office and there were consular openings.

in total there will be 50 people this will be the central place for u.s. diplomatic relations in israel. >> it is a big story as well tracie potts in d.c. thank you very much. let's get a check on some of this morning's other headlines outside of the world of business frances rivera joining us. >> good monday morning to you. paris investigators looking at a paris attack witnesses say the man cried out god is great in arabic during the attack. isis claim the suspect is one of its soldiers but did not provide any evidence it remains unclear whether he was inspired by or is a part of the terror group new fissures open up the hawaii county civil defense says 18 fissures have split open spewing lava and gas residents have been told to

evacuate geological experts say it coul get worse. the salmonella outbreak that led to the recall of 200 million eggs has gotten worse. 12 cases is up since the initial recall in april. the cdc is urging them to toss them out. >> thank you very much appreciate it. we've got much more to do on this monday. as frances said, stick with the pancakes why the stock is hot again and what just happened in italy that could make global sts very happy why italy matters to people outside of italy, of course. we'll be back. that's why i switched to the spark cash card from capital one. with it, i earn unlimited 2% cash back on everything i buy.

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ready to run the dow on a seven day winning streak could we make it eight in a row today? we'll talk about all of that crude's climb. oil prices holding steady at 70 above barrel gasoline prices hitting a four-year high and hacking america. why the last plate of baby back ribs at chilies would cost you more than your bill said it is monday, may 14th you're watching worldwide exchange right here on cnbc.

welcome back happy monday 5:30 here on the east coast. thank you for being here on cnbc i am brian sullivan. let's get you up to speed. here's what's leading cnbc.com president trump is working with china's president to get zte, quote, back into business fast, end quote. remember, just weeks ago zte had to suspend its main operations after the u.s. band american supplies to its business president trump's apparent concession comes after high stakes trade talks. loretta mester says the central banks could raise rates more than she thought. mester said the u.s. should keep the debt file in hand before things get, quote, out of hands.

carl icahn and darwin diesen are backing out of the deal. here's how your money and investments look on the back of the news halfway through the 5:00 a.m. hour stock futures very positive. up 100 points for the start of the dow jones industrial average. the hang seng and shanghai is higher a little red but not a lot markets are declining by literally .1 of 1% that doesn't mean nothing is happening. two anti-establishment parties in italy look closer to a deal this matters a lot more than you might realize. willem marx is joining us from rome with more on this global story. willem >> reporter: yeah, thanks, brian. we've had a pretty busy weekend in italy in milan, we've had the leaders

of these two parties, they've been trying to hash out some differences between their two platforms trying to figure out exactly where they can find things that are threatening to expel thousands of immigrants if he's to form a government. what we're expecting later on this afternoon in five hours' time is they'll be meeting with the italian president here he will be the man that can decide on their appointment of a prime minister we've had a couple of names floated this morning both quite well known professors. not really politicians at that point we will expect to see the formation of a new government, brian. >> what does this mean for investors, willem? >> you have to look at the spending plans for these

parties. we've heard from league, they want a 15% flat tax. that will really, really dramatically eat into the tax base some estimates are between 65 and 100 billion euros a year meantime in terms of spending, the five star decided a universal basic income meaning that could cost 40 billion euros a year for the italian treasury. we look ahead to the potential tightening that idea of fiscal spending that's something to watch looking at the bond yields. >> the footse, mib is the second best performer the markets not moving down very much today looks like investors are not completely afraid. >> no, you're right.

we saw a slight tick up in the bond yields on the ten year late last week in reaction to the idea there might be a bit with the parties. investors have priced this in as a possibility going back to the march elections. we last saw the ten year taking a bit of a liftoff. >> willem, thank you very much let's take a look at this. joining us is steven englander, steven, don't worry i'm not going to ask you to dive into the intricacies of italian politics, but how much does sort of global macro and geo politics in major economies right now affect your thinking and optimism or pessimism around the equity markets >> you look at a place like italy and you wonder about the tail risk. what's coming markets now are the names of the possible prime ministers that are being put forward. they're conventional economists.

i'd be surprised if they bought into the spending or fiscal plans at least in any big way that are being bandied about in any country whether it's turkey, malaysia, italy, what we're looking for is to see no big tail risk will realize itself >> so what do you think is the risk in the market do you think it's the "i" word it's a little bit wonky. >> i think inflation is the risk i think what the market continues to be focused on is the fears that the business cycle is coming to an end but that's not priced into the equity market right now. i think that -- and it could be inflation that brings it to an end. it could be other factors that bring it to an end part of the biggest risk that we're facing, there are

geopolitical risks most of them seem to be on the downswing rather than manifesting themselves so the market is pretty happy. >> so you don't worry about it. >> of course you worry about it. you look at the ones that are likely to emerge and be significant. i mean, for example, long term south china sea isn't going to go away. trade issues can be solved but territorial issues are much harder to deal with. >> is anybody literally going to sit around the stock table and say, you know what, honey, don't buy stocks because china may go to war >> the market has a very limited time horizon but when they come up, they come up big again, you don't make a trade decision off it or portfolio decision off it. you're always monitoring it to see what degree of difficulty is imminent

i think the markets have trouble looking beyond three or six months if that's not an issue, then nobody cares >> so what do you care about then, steven what do you think is the key thing that our viewers right now watching running on a treadmill is saying when you want to protect your assets -- >> i think what the 345rk9 is counting and hoping, we have an extended business cycle. if it turns out a relatively flat yield curve doesn't have to be within three months to six months equity markets are miles from being priced in. it would affect the earnings over the next couple of years. that would be the biggest issue they have to worry about therefore, they have to focus on the fact that that might precipitate that kind of downturn, whether it's inflation or whether it's trade issues,

which i don't think will be a factor, or anything else >> steven englander, thank you very much. inflation. that's not something we've talked about lately but it is certainly coming back. thank you. some of your big individual stock and money stories now include conocophillips has seized assets from a refinery it runs from an island. they are hoping to find the name of his company. rinker international, they say customers credit and debit card information was compromised at restaurants no social security numbers were exposed. i'd like the fries and here's my social security number. meantime, nintendo says its

super popular nes classic game conceal ran out. they expect it to be available through the end of the year. we'll tell you why the launch of a tech gadget has one girl name dropping in popularity. and scores and more. the leaders in making waves on soci mia taledhis morning. highlights and low lights when wex returns. (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley my digestive system used to make me feel sluggish.

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welcome back if you had taken eight days of the dow up in a row, you would win. the indicated open right now, the implied open is up 118 points coming into today we're on a seven-day win streak. eight may not be enough. time for this morning's top trending stories marvell's avengers infinity war cannot be stopped at the box office it took in over $62 million again. this was avenger's first weekend being shown in china where it took in 200 million more infinity war is the fifth highest grossing film of all time. cute video alert on monday the troy, michigan, police

department recruited the new officer. this is a kitten she has to complete training before she assumes her duties which will include therapeutic purposes. the launch of amazon's alexa has been great for home convenience but it's also had unintended consequences. girls named alexa is dropping in popularity parents don't want their bundle of joy confused with a robot. now to sports. at 200 yards left for the second shot on the par 5 16 he opted for a six iron. good call. the ball was right on line it took one hop on the green, dropped into the bottom of the

company for a two, now a two on a par 5 or a hole in a one on a par 4 is known as an albatross some people call it a double eagle. this is the second albatross in two years on the 16th hole web simpson took an early lead the nba is one step closer to crowning a champion game one will go to boston that's an understatement they opened up a 21-point lead in the first quarter and they never looked back. celtics with web simpson of basketball they beat the cavs 108-83. held lebron james to 15 points game two in boston tomorrow night. a little bit closer, gasoline prices soared to the

highest prices summer driving season around the corner. a special day for mark zuckerberg turns 34 today. according to "forbes," he is worth $71 billion so congrats, rtay zuckerberg, and happy bihd you're worth about $2 billion for every year you've been alive.

maybe your biggest money story has been the oil markets oil prices nearing four-year highs. they're closely watching global response to the iran sanctions hadley gamble is watching this hadley >> reporter: good morning, brian. of course, european companies are very concerned with what this will mean for them, particularly those dealing with iran for some time i asked the ceo of the italian oil giant ane.

let's listen in to what he had to say >> the investment is not easy to be performed i think that is one, but there are so many other geopolitical issues that the landscape is quite difficult to understand where we are going >> serious difficulty of planning where to go that's the ceo of eni. i asked the prince can any country, opec or non-opec, be able to hold the world hostage let's listen again. >> the kingdom has been cooperating with the oil producers and the oil consumers and the international energy

forum established in saudi arabia for many years has presented and worked with producers and consumers to get a real value for oil as a product and not to escalate it as a price so that it becomes onerous on the poor countries that can't afford it but to make justifiable issues like shale oil, et cetera not to be too low to hurt the producers. there is an equation. >> now of course nothing, brian, happens out here in the middle east he was talking to me about this u.s. decision on jerusalem he was deeply disappointed to hear that. at the same time saudi arabia, uae and bahrain still supporting

this. >> yes, they are, hadley, but i know you're in touch with these people every day are they happy enough for $70 a barrel or are they whispering they would like a little higher price? >> i don't think they're even whispering, brian. it's an obvious thing they would want a higher price. that's 24 hours. hearing from these oil ministers. hearing from the uae oil ministers, he was saying these countries aren't seeking $100 a barrel they're happy where they are. >> it is a new world out there certainly here and i know the saudis according to many reports, your reporting, hadley have been talking about 80, $85 a barrel they have to be watching the u.s. shale boom very closely is there talk that america is now the price maker and not the price taker? >> reporter: i don't think anybody would actually go that far. as you say, closely watching what's going on in the u.s.a

there's the giant petrochemical maker in saudi arabia. there is lots of talk about how the shale prices will impact their business and a lot of positivity as a result of that >> hadley gamble, middle east hadley always a pleasure. thank you very much. we'll talk about oil in just a minute let's first find out what is coming up on "squawk box" on this monday morning. andrew >> hey, brian. we have a very big show. are you ready for this we have ron baron of baron funds, of course he'll be our guest host. i imagine he's going to be talking about the long term as he always does we have a lot of questions for him including his take on tesla which he's been a big bull on. also we're going to talk to ed lee and he'll talk about the dow. if you are a mets fan or

seinfeld fan i don't know if you're both, brian, possibly? >> one not the other. >> keith hernandez. >> that's cool >> that is cool. >> i'm not a mets fan. is anybody actually a mets fan that's not a thing, is it? >> i grew up in new york we were yankees fans but we went to a lot of mets games mookie wilson, darryl strawberry, that was a generational thing. >> mookie wilson was the name of the band pearl jam i literally made that up my daughter's name is shea. do you like the mets no, it means i can chant it home in gaelick. >> keith hernandez, that's all you've got to know. >> i love it where's elaine bettis. let's switch back to oil prices at the pump keep inching higher the national average for gas now $2.87 a gallon 53 cents higher than last year

that's not keeping people from hitting the roads. aaa says 41.5 million americans will travel over the memorial day weekend. up 5% more than last year. can the roads take 5% more john killduff, the man who has avowed to stay home. another 5% -- >> garden state parkway, right now, with that oh, my goodness. >> start walking. >> get there faster. >> the price of gasoline has gone up fast. >> sure has. >> what's going on >> unbelievably record demand, brian. >> things are so good they're bad. >> so good they're bad when it correlates always is the employment trends and with employment being so high right now in the u.s. -- >> is it working we're driving, using gasoline, get to work. >> exactly no matter how much it costs even, you know so as a result of that we've seen the inventories come down

crude oil has skyrocketed. >> you call that a skyrocket >> i would a good 10%, 15% move over the past number of weeks it's been a decent, you know, race higher based upon everything that's been happening in the middle east in particular and venezuela. >> which is interesting given that the u.s. is now at what, 10.6 million barrels per day that's an all-time high. i think one week we might have matched it prices tend to lag production by a few months does the u.s. production indicate that prices are going to roll over and decline in the back half of the year or is demand so good that it's coming off line a couple hundred barrels. >> they are imploding. you reported on connick couldco

>> venezuela recalls some tankers during the week because of what was going on there the production is falling off a cliff and the crude oil output and the refined products production. >> what is going to happen there? venezuela was a few years ago one of the largest -- not only one of the largest oil producers of the world but the kind of oil venezuela produces, folks are a little bit wonky in the morning. it's sludgy, heavy, used in a lot of production for things like diesel fuels. we need their oil because of the kind of oil it is. what's going to happen >> our gulf coast refiners are particularly -- >> they built refineries in texas just to use venezuela oil because it's so sludgy. >> right. >> like putting peanut butter in a blender. >> the optimistic angle i've taken is they owe so much to the chinese and russian oil interests that i see it as ultimately a de facto

privatization when the foreclosures come not unlike what conico just comes in. >> we're taking this over? >> you mentioned russia. you think they're going to come in, they're going to have to come in and take over the venezuela -- >> take over and run it. we want our money back that's what will likely happen there. >> john -- >> the other issue is iran where the administration looks like they're playing a game of jenga. >> don't take out the bottom one. >> we'll see you again soon. time for this morning's rbi, most random and hopefully interesting thing you'll hear all day in business. did you know it was already 11 years ago today that mercedes divorced chrysler? yeah, today in 2007 daimler sold chrysler for 7$7.4 billion 23 months later chrysler filed for one of the largest bankruptcies in a time

now the market cap $43 billion sorry, daimler random but hopefully interesting. thanks for watching. we'll see you tomorrow "squawk box" is next your digestive system has billions of bacteria, but life can throw them off balance. try align, the #1 doctor recommended probiotic. with a unique strain that re-aligns your system. re-align yourself, with align.

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good morning a quiet rally. the dow on a seven day winning streak the bulls are looking to continue that charge today president trump offering a concession to a chinese telecom company. he tweeted that it's part of the negotiation process and in his words be cool. really plus, carl icahn claiming victory in his fight with xerox straight ahead monday, may 14th, 6:00 a.m "squawk box" straight ahead. 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. you are looking at markets up across the board this morning. dow up by triple digits. gain of 103 points after the dow was up by 2.3% last week, a gain of almost 570 points over the course of the week nasdaq up by 24 this morning it looks like the s&p is up by 8. nasdaq up sharply, too up by 2.7% this week we're going to watch this. these are all gains that started even the week before that. the thursday low had been set and then green arrows this morning. take a look at what happened in asia you're looking at the nikkei closing up by half a percentage point. hang seng up by 1.3% and shanghai