tv Worldwide Exchange CNBC June 4, 2018 5:00am-6:00am EDT
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it is 5:00 a.m. at cnbc global headquarters. top five at 5. china issuing new warning. breaking deals there microsoft reportedly nearing a deal to buy github volcano in guatemala killing 25 people overnight some residents are being air lifted to safety airlines have fuel costs rising. and mgm reaching a tentative deal with 25,000 workers avoiding a strike. it is monday, june 4th, and "worldwide exchange" begins
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right now. jo and good morning, i'm brian sullivan so glad you are with us to start your week or at least get through your monday. here's how the markets are setting up their day looks pretty good. stock futures showing the dow will open up nicely. we are up over 100 points. the ten year yield up over 3% rising at 2.91%. we'll get more on the markets in a minute it was a big day in asia as well all indexes are up led by a 1.6% jump in hong kong. green on the screen. as you can see, all in all pretty good looking monday with the exception of weather if you own stocks anywhere in the world. topping your money news this morning, the u.s. and china just wrapping up their very important latest round of trade talks in beijing. all of this coming of course just eight days ahead of
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president trump's planned ground breaking summit in north korea let's get to eunice yoon who has inn china. eunice >> reporter: thanks so much, brian. the talks ended a stalemate with beijing warning if the u.s. imposes tariffs, china won't buy more american stuff. the commerce secretary was here over the weekend with the 50 person plus delegation they're here to follow up on the trade talks in washington and according to t u.s./china business council, the talks centered on technical issues that would help to increase purchases by the chinese of u.s. agriculture as well as energy goods. however, some of the other issues that are important to the business community, such as china's trading practices as well as other factors such as the zte case, those are taking lower priority the secretary also is expected to meet with president trump on
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monday so for that reason the u.s. did not issue a statement, however, the chinese did sayg that the two made concrete progress on agricultural and energy issues, but beijing added that if the u.s. introduces trade sanctions including tariffs, the economic and trade agreements negotiated by the two sides will not go into effect. now the trump administration has said that it's going to be imposing a 25% tariff on $50 billion worth of chinese made goods by mid june. that move was seen as a negotiating tactic and it seems, brian, as though based on the statement the chinese are now using their own leverage as -- to their advantage because they know that they can address an issue that is important to president trump, and that is the trade deficit. >> is this leading the business news media in china as it is here state side, eunice? >> reporter: absolutely.
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the state media has been quoting and quoting the chinese side and also pointing out that the ch chinese in some ways are in a better position to stall o of the -- of these deals just because of the current environment globally we heard just a raft of criticism from the g-7 and because of that environment and the fact that the chinese are hoping to get the united states to really avoid a trade tariff and a trade war, a lot of that work is being done for them because other countries are also angry about what they're seeing. >> yeah, eunice yoon in china. thank you very much. sticking with that theme, eunice is right canadian prime minister justin trudeau sounding off on new tariffs against his country. here's what he said this weekend on nbc's "meet the press." >> our economies are incredibly interwoven and there is an
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absolute path towards improving nafta and doing well on nafta. the fact that the president has moved forward with these tariffs is not just going to hurt canadian jobs, it's going to hurt u.s. jobs as well and neither of tse things is something that canada wants to see. >> we also heard from presidentd our former colleague, larry kudlow kudlow saying trudeau is, quote, overreacting and he downplayed the fallout from the new u.s. tariffs. >> in the announcement from the white house it said very clearly that we still welcome good faith negotiations and that's why i regard this as more of the family quarrel this is a trade dispute, if you will it can be solved if people work together >> now trade certain to be a central focus as president trump heads to canada for the g-7 summit let's talk more about everything going on joining us on set, david nelson,
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chief strategist at bellpoint asset management we have tariffs in europe, china and canada basically america seems to be in a mini war across the planet on trade and yet the dow futures are up how come >> it's based on a high employment numbers on friday president chi in particular is looking to defend the status quo. we understand that, but intellectual property is just the tip of the if we don't do something about it now, when will we do it >> the market is either saying that they don't care or that maybe we'd be up a little more if it wasn't going on but the fundamental framework of corporate earnings and the economy is still good enough even with all of this harsh rhetoric that stocks can move higher. >> certainly here in the united states that's true and i can
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push to a couple of things there. you look at things like rails and intermodal. >> i was wondering wou going with that, dirty fingernails. >> rails and intermodal touches every portion of the fabric. some companies like norfolk southern are raising it 15%. they can't meet the demand and won't take on new contracts. it's hard to be concerned about a u.s. economy with small caps at all-time high domestically based companies are doing well we did the show. they're buying new cranes. they're adding capacity. the port of jacksonville, florida, huge entry port from asia and europe. increasing volumes constantly. so you think despite all of this tough rhetoric, that underneath it all the fabric is still pretty good? >> look, if it was just the economy right now we would have
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broken out to new highs. you look at the s&p 500, it's largely, you know, off shore revenue. 40% of s&p revenues is off shore. global growth slowed starting in january. we peeked there. here in the united states we'r ing just i look at some of the domestic companies based here we're doing terrific if i could just point out that we probably priced in a big surge from november to january on the heels of a tax cut. >> you're telling us that the -- that that's it we've gotten all we are going to get. >> if you have a myopic focus on the s&p 500, yes. >> what's good small caps >> drill down, the s&p 500 is not just fang. fang makes up -- >> listen, you're preaching to the choir on that one. the s&p 500 is dominated by some very large megacap tech companies, but if you drill down just like i did with rails, you
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can find some pretty exciting companies out there that are doing very well. you don't have to look just to global growth. >> yeah, there are more stocks >> you can look at the financials as well they have a secular dynamic. that's good for net interest margins or because of everything else, we're still the house on that block >> when i see stocks blow out like it did last week, they're going to have to deal with that. it's a pleasurto get your views. time for this morning's big money stories. kate rogers here now with those. kate >> hi, brian big individual stock stories include bayer, the german drug maker, will wrap its $62 billion
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takeover of monsanto name. all of the acquired products will keep their name bayer has issued a $7 billion fund deal to launch this merck says their drug keytruda extends lung cancer survival shares of socgen and unicredit are exploring a merger microsoft is reportedly working on a deal to buy coding site github. it could be announced as early as today github was last asked and they've reported a new ceo palo alto has been named ceo
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tyson foods sells to sara lee. back over to you. >> kate, thank you we're going to see you in a couple of minutes. so much more to come on this busy monday morning. on deck, new beginnings again in italy. the nation swearing in yet another new government we are live on the ground in rome and shooting for the skies another spaceex blasting off this mning details and pretty cool footage when worldwide exchange retus.
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welcome back and good monday morning. here's how your money is setting up the week. stock futures up 100 points and gaining steam. up 112 europe, similar story. not quite as high. still pretty good day. green across the screen. asia, that's up as well. europe you can see higher. despite the fact that italy ushering in a new government after weeks of political turmoil. this government created by the unlikely combination of two relatively new political parties and an academic prime minister who has exactly zero years of political experience willem marx joining us from rome willem. >> reporter: brian, it's not just the prime minister. the finance minister also has absolutely zero political experience
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he's a political professor from a university here in rome. he went to pains to try to end the idea that his parties behind him want to exit the eurozone. something we saw floated and cast aside during the government contract negotiations leading up to friday when the new government was sworn in. the two men driving this coalition. they were both down in sicily touting their relative priorities for this new government demaio is about universal income and rolling back pension reforms we saw under a previous technocrat government and for mr. salvini, we've seen tens of thousands of migrants reach the shores they seem to deport half a million migrants the spending programs don't come cheap looking at estimates of more than $100 billion euros a
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year in extra spending the challenge is going to be how they finance that. only half will be covered by revenues we heard from angela merkel, the weekend, that she did not want the european union or the eurozone to be a debt sharing union. the italians would face this, particularly the germans we've had the report about unicredit and socgen tying up and trying to compete with their american counterparts who are seeing much more profitable margins right now. so far socgen saying there is no merger and unicredit not commenting. >> this is a big story obviously like most of the banks there, it has been extremely
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troubled unicredit surprising it's not commenting. >> reporter: it's a big story here the man who's been brought in to clean up unicredit, he has a background in socgen so a tie up with socgen would be an opportunity to merge and build socgen's presence in places like italy and germany. again, no comment so far from unicredit. we'll wait to see if this terms into a bigger story. >> willem marx, see you soon. in the past 25 years there have been 17 prime ministerial governments. we've had five presidents in america and germany has just had three chancellors. still to come here on
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happy anniversary dinner, darlin'. can this much love be cleaned by a little bit of dawn ultra? oh yeah one bottle has the grease cleaning power of three bottles of this other liquid. a drop of dand grease isne. what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom?
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stock futures up 122 oil not on the move. crude oil just under 66 bucks per barrel you can see oil has been a big story. 65.72 right now. even though oil has not changed much today, it is still up nearly 50% in just a year. that is starting to hurt the biggest users, airlines. airlines also warning that higher interest rates and opolio other operating risks. the iata, which represents about 280 carriers, saying the industry is expecting to post a $33 billion profit this year which sounds good but that is 12% below their previous forecast president trump returning to the white house after spending the weekend at camp david. cnbc's tracie potts is live in washington with more on what we can expect today and this week
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tracie >> reporter: hi, brian good morning, everyone a couple of things the president's lawyer, rutdy giuliani, says they have strict guidelines under how they will allow him to talk to the s counsel. they are talking about a memo that was leaked. leaked to the "new york times," a memo from president trump's legal team to russia's special counsel robert mueller claiming that as the nation's top law enforcement officer the president cannot obstruct justice but he can shut down any investigation and even pardon himself. >> the president believes he is above the law and that's what they're arguing. >> reporter: the president's attorney said he can but never would. >> pardoning himself would be unthinkable. >> reporter: or shut down the russia investigation. >> it could lead to impeachment.
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it could lead to -- if he terminated the investigation himself. >> reporter: the 20 page memo is part of the trump legal team's attempt to avoid a subpoena to testify. >> it sounds like what giuliani and his team are saying -- they say that president trump did dick tad the misleading statement about his son's meeting with the russian lawyer but the president's legal team argues that even if he did issue a misleading statement misleading the media and by extension the public is not a crime. >> tracie potts live in d.c. drama ramping up we appreciate it, tracie, thank you. meantime, devastating volcanic eruption topping your world. this eruption not in hawaii. phillip men nez in new york. >> brian, good morning at least 25 people are dead and nearly 300 injured after one of guatemala's violent volcanic
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eruptions in four days the government's disaster agency says the explosion stands to impact nearly 2 million people saying the ash spread far enough to have to close the airport. officials in hawaii say there have been more vigorous e eruptio eruptions. it cut off escape routes and cut off people from cell service and it's racing towards the ocean. it was an emotional day in parkland, florida. graduation ford senior class those being honored included four seniors who were among the 17 people killed in a mass shooting on february 14th. among the speakers was ""tonight show"" host, jimmy fallon.
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>> when something kills heart, remember that it gets better choose to move forward don't let an stop you. >> fallon told the students they had started a movement not just in florida, not just in america but throughout the world, brian. >> big moment there. trade turmoil. breaking down how wilbur ross's visit could impact your money. delta on fire after the passing of another pet we're back after this.
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another takeoff for spacex as falcon 9 blasts into space. the second half of "worldwide exchange" begins right now welcome back and thank you for being with us. glad you're starting your week with us. i'm brian sullivan shot of times square 59 degrees and raining on behalf of our crew here, i want to wish you happy thanksgiving what's leading cnbc.com.
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a triple dose of deal news number one, microsoft buying github it's been popular with apple, amazon and google. it's not clear how much microsoft will pay for github. bayer will wrap up $62 billion takeover of monsanto on thursday bayer has launched a rights issue. they're raising money. las vegas mgm union workers reaching a tentative deal yesterday. it covers nearly half of the 50,000 employees who were threatening to strike in las vegas. this comes after caesar's reached its own deal on friday afternoon. there's your headlines here's how your money and investments are taking it all in a lot of green on the screen s&p and nasdaq futures on the rise bond market yield up slightly,
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2.91% on the ten year. very bullish story in asia overnight led by the hong kong hang seng. are you seeing a trend concerns over deutsch bank, italy, what have you germany, france, ftse, italian ftse mib, spain all higher we showed you oil and we'll show it to you again because i like oil. down a couple of cents u.s. dollar not much on the move gold not moving well cryptocurrencies, if you like those things -- let's get a check on cryptos i think i'm moving too fast. do i talk too fast >> yes moving too fast. >> bitcoin is down 1.6%. ether, 2.72% let's talk more about the early rally. steven whiting is joining us, global chief investment
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strategist at citi private bank. they call that a fill. o all of this talking. >> cryptocurrencies. blast into spacex good morning let's talk about the u.s. economy. we read the headlines. trade turmoil, fighting with canada, fighting with asia is nafta going to be reworked. the atlanta fed is predicting nearly 5% gdp growth can you square these two things for us please? >> just remember, first, watkins took a big hit back in march on trade fears. we are in a recovery from worrying about endless rises 3.5%, 4, we were going there a good deal to worry about we had a great deal of trade the fact that there's some carry
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through, what has the economy done we've seen a powerful, powerful pickup in earnings it is not simply going to end here with the first quarter. earnings will keep riding. -- rising >> is it really? >> i think outside the you states we let a significant growth scare -- look at europe economic surprises in the eurozone are the weakest compared to the united states since 2009, but the absolute data, the absolute pace of economic growth has differed by a trivial amount these are the kinds of things that the market has been able to absorb the waterfront, not a huge, massive year, okay we have that concerns on interest rates and trade is a zero yourks serious issue. we've been pricing a good deal of fear. >> the markets were up 144 points on the dow futures, and yet if you just read the headlines, italy, deutsch bank is sinking
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you know, the biggest banks in italy are on the edge. saber-rattling with china. european tariffs you would think the market would be down fairly big we're not up down flat maybe slightly higher. what is ultimately going to rattle these stock markets if anything>> well, look, actual ec downturn, right? a de facto referendum on the year was very different from a real one in italy. again, i think we've seen that we have a strong economy, that we are growing quite solidly into the second quarter. there will not be any immediate decline in earnings in the second quarter we have not reached an economic peak which people have talked about. >> have we reached an earnings peak >> so main point is, we are going to see earnings in the united states rise close to 20% this year. we did a lot of that coming into the year. >> 20% more?
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>> 20% in total. >> because we've already had a big jump just remember when we're up 20% on a year-to-year basis in the first quarter of the year, making full year earning estimates up $160 billion does not require a trend on this amount of growth these unrealistic earnings estimates are just not that hard to reach when you've had such a strong gain in the first quarter and the gains are not stopping so when you see that there is pressure on valuation, would he have a large decline in valuation, not share prices, earnings are going up. >> how long? >> 2019 -- how long have we done this in. >> 15 years. >> i don't know that i've ever
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seen you this bullish. >> u.s. shares have doubled over five years they've tripled since the bottom of the crisis and i do think there's a great deal of opportunities at this for markets that have gone up 1/4 as much as the united states. the catchup as long as we do not have -- >> sucas >> if you take a look at emerging asia. you're looking at a region that does not have any massive capacity constraints if you look back five years ago, it was shrinking in the prospects from u.s. interest rates. >> we sneeze, they catch the cold. >> they have that, right they have a strong ger er u.s. dollar you look at another poll of the world. >> when you say emerging asia, you obviously just referenced china. >> exactly. >> would there be other nations? >> absolutely.
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>> in south asia in some cases you are much, much more sensitive to movements in u. sms. do dollar and interest rates. latin america, right, you are dealing with completely a synchronous cycle. >> argentine na may effectively may need some. so these are tiny, tiny -- some are larger on the fixed income front but the larger countries in latin america, the weightings like brazil, which have local issues, we're not seeing concentrate in any single country. there's a lot of concentration risk when it's 50% of local market cap. >> it's worth staying in >> staying in. >> yes. >> that's why this is "worldwide exchange." >> exactly. >> the world looks pretty good
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to you. >> the world looks pretty good >> pretty optimistic time now for the top trending stories. the afore mentioned kate rogers, you start with another sad story. >> delta airlines says it is investigating another dog death. an 8-year-old pomeranian was found dead in his carrier during a layover in detroit the dog was flying from phoenix to newark. delta says it is conducting a thorough review of the situation. it has been working with the family to support them however, they have had four dogs that have died while in the care of u.s. air lines alone. >> 3, 2, 1, 0 ignition liftoff. >> space x successfully launching a satellite
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-- rocket >> it's the 11th launch this year. they're going to spend a plan of tourists around the moon the trip is postponed until the middle of next year. i don't know if i would be ready to go into outer space. >> why not >> we talked about the lonflight was too much for me. i don't know >> much short injury fly, take. >> very comfortable. >> would you go? >> yes 100%. >> to space? spacex, i'm here for you i'd probably take weight -- i'm not sure we could take off. >> speaking of space. >> "solo" losing some major
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momentum at the weekend box office the movie took in $29.3 million. that is down despot for the second straight year. >> do you think there is "star wars" if a sneeg. >> if you're a fan, i think you're excited i've heard they're pretty good >> we have breaking news you've never seen one, not one >> no. >> not return of the jedi with ewok's, jed da >> i've seen footage. >> no. i feel like i don't have to see it now that i heard that expression. >> i just redid them all in one. >> no, i've never seen it. >> can somebody please send kate
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rogers all details that is breaking news. still ahead on "worldwide exchange," the crypto craze taking over in amsterdam i'll guarantee you they have seen it. live ae money-money. wlets' heawh or atne future has say aut bitcoin when "worldwide exchange" returns after the break. why did i want a crest 3d white smile?
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good morning, the dow futures continue to gain steam they are now showing a jump of 140 points at the open if you're asking, that's a 6 point game for the dow that's an inside joke. the s&p and nasdaq are higher as well pretty solid morning for stocks all around the globe. apple is kicking off a tech conference apple is not expected to unveil any major new products more likely to outline things
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for the mac, iphone and ipad updates. you can expect details about the operating system expected to focus on security and stability improvements this year major new product features or product overhauls. in other tech news, facebook reportedly had data sharing agreements with 60 device makers the new york sometimes said many of those may still be in place reporting the device makers were able to access data not just from users but from users friends even though facebook said they did not share that info among the companies said to have these deals in in the last decade are apple, amazon, samsung and microsoft among others facebook responding on a blog post arguing that the data sharing deals were used to get facebook on devices. any friends data was shared without consent.
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>> fin tech has been on fire over the past year $31 billion of funding went into fin tech companies blockchain companies received their record level of funding in 2017 never one is excited there's a mixed attitude towards cryptocurrencies and what future they have to play. i spoke to the ceo of transfer wise they're a unicorn specializing and i asked him what future does bitcoin have let's listen to what he had to say. >> cryptocurrencies have been
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very interesting for us. the world has been watching closely going back to jack's comments, it would be super exciting if the world decides now everyone is going to use bitcoin and they can buy homes, cars, sandwiches once that happens we will certainly support converge goens bitcoin as well. >> reporter: common belief bitcoin could have an impact the egyptian pound is more useful than bitcoin. there are high costs to transact to bitcoin we have the volatility in the prices a lot of people wonder if bitcoin can be here in the future there's still a bit of questions over whether technology can have
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a future in the financial system. >> does anybody talk about the financial history. to mine that is more expensive than bitcoin >> reporter: it's crazy. some of the miners are actually losing money because of this power equation that's why there's a concern that some of the power of the bitcoin network is too concentrated in the hands of big miners that's why you've seen a lot of disagreement about the future of the network. we heard about what was going on there was a big tussle between what was going on. those are the issues that people start to raise when they say, hold on, can bitcoin become a global currency? many skeptics say no the big issues around the fact that it costs so much to transact and mine. some of that power is being concentrated. >> argen, don't give too much
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away you have steve wozniak, the co-founder of apple. give me a hint of what you're going to ask the woz. >> i'm going to talk to him about bitcoin. he used to be an investor. apple has a worldwide development conference i'll ask him for his take on what he expects around that conference and how he has perceived the iphone 10's performance. >> can't wait to see it. argen, i'll leave you to it. take care. see you soon. still to come on monday's "worldwide exchange," the new safe haven trade making a call on what sector he says is the best and maybe the safest for you and your money plus your morning rbi has to do with a pretty good basketball player stick around jimmy's gotten used to his whole room smelling like sweaty odors.
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you know, not only are the futures up the sun is up. it's been raining since 2016 here on the east coast beautiful day in washington, d.c. take the rest of the day off meantime, trade talks dominating investors thoughts. canadian prime minister justin trudeau sounding off on new tariffs against his country. here's what he said on nbc's "meet the press." >> our economies are incredibly interwoven and there is an absolute path towards improving nafta and doing well on nafta. the fact that the president has moved forward with these tariffs is not just going to hurt canadian jobs, it's going to hurt u.s. jobs as well neither of those things is something that canada wants to see. >> now we also heard from president trump's top economic advisor and larry kudlow kudlow saying trudeau is, quote, overreacting and he downplayed
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the fall outfrom new tariffs. >> in the announcement from the white house it said very clearly that we still welcome good faith negotiations that's why i regard this as a family quarrel this is a trade dispute, if you will it can be solved if people work together. >> the topic of trade sure to heat up this week. the president headed to canada for the g-7 summit. speaking of trade, the forecast that global gdp growth could take a hit of 1% if tariff threats do escalate into all out trade wars. let's see if jeff kilberg agrees with that joining us is jeff kilberg, founder of kkm and cnbc contributor. i want to get your take on the markets. stock, futures up. the markets don't appear to care how come >> well, i think when you look at the trade talks, talk about
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$50 billion specifically to china. right now it is interesting. we have trade disputes to use larry kudlow's words we have trade disputes on three continents don't forget last week we saw a bipolar market there's a 1% oscillation that reveals a little bit of anxiety in the market. >> every time they've seemed to be kicked in the shin by a piece of trade news, saber-rattling, we seem to be backto the fundamental story that despite all of this, earnings remain fairly strong. >> yes we're seeing earnings strong and we're seeing corporate profits continue to move higher. it's interesting because we are having a little bit of geopolitical tension no one cares we are seeing the italian jobs
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and interest rates jump over gdp. no one cares one thing i want be to talk about, it was interesting last week we saw the tech sector the u.s. economy really be a safe haven we saw a lot of global assets get attractive month of may apple all by itself contributed 23% of the s&p 500 gain apple all time highs that is the sentiment. >> are you saying to me, to us, to all of us watching world wi that the so-called fang stocks are now a safe haven >> it is the craziest thing i've said on cnbc, sully. >> were you in your dad's liquor cabinet? what's going on here really why are these things safe. >> it's the attraction the italian two year note went up, what happened? they came in and bought u.s. troesh ris we saw the ten year note go down
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to 2.76% they bought the nasdaq 100 specifically fang. when you look at year to date perspective, pick a stock. all of these have continued to attract assets because the tech sector and all of these different sector rotations on these global allocations continues the in flows i am a little concerned. >> getting an alert there. i can't let you go without talking about deutsch bank stock continuing to slide. do you think this is a systemic risk >> i do not think it's a systemic risk. pre-market up 3% it is a huge concern this is one of the biggest, most storied banks out of germany let's look at jeffries i know the ceo at deutsch bank is committed it is hard it's a digestion period.
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they have cut jobs 20% of the u.s. work force that is not an ideal situation i do think deutsch bank will come around and they see >> do you expect the market to continue to rise for the rest of the year, jeff >> i think it's a technical tug of war, sully. t if you want at 2700.ull up the we continue to see this tug of war. i think we're going to have more digestion as we see this trade dispute on overall confidence. we'll see a little bit more. we'll chest the lows that we saw. i do see the economy hitting on all cylinders. we will see 8 to 10% year to date return. >> jeff, thank you very much >> good stuff. >> wrapping up with sports, golden state warriors, if you didn't watch the game you didn't miss much. final score was 122 to 103 you know stef curry for the
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warriors is good but did you know he is the first player ever na make nine three-pois in a fi game? random but interesting we'll see you tomorrow "squawk box" is next or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain-health supplement in drug stores nationwide. prevagen. the name to remember.
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good morning stocks are on the move this monday futures indicating a gain of more than 100 points for the dow. we'll tell you what could move the markets. in addition to the good overseas trading that we're seeing later this morning china issuing a new warning on trade as the u.s. wraps up a round of negotiations. a live report from beijing breaking news, microsoft reportedly getting a deal from github
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monday, june 4th, 2018, and "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 andrew is off today. our guest host for the hour is peter boockvar he's a cnbc contributor. great to see you. >> good to see you. >> we're going to talk about what's been happening with the markets. let's take a check on the u.s. equity futures last week was a mixed run. dow ended the week down by half a percentage point the nasdaq did well. up last week dow up by 123 points nasdaq up by 27 points and the s&p up b
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