it's 5:00 a.m. here are your top five at 5:00 the white house expected to unveil a new round of tariffs against china. at&t completing its deal for time warner. qualcomm bouncing on reports that chinese regulators have approved its deal to buy nxp. the president sending disaster aid to hawaii as their volcano continues to erupt. and mcdonald's choosing paper over plastic and drinks may never be the same. we'll explain on this friday, june 15th as "worldwide exchange" begins right now ♪

let's start the day and end your work week good morning welcome from wherever in the world you may be watching. i'm brian sullivan so glad to have you with us as always those china tariffs kicking the futures in the shin. you can see the dow's implied open is down more than 100 points 111 points to the down side. the nasdaq and s&p a similar story. your key market themes today will include those tariffs and the impact on the big multinationals, but also let's find out if technology and the small cap stocks can continue to shrug it off and continue their big run. you may not be paying attention at home but the s&p small cap 600 is up nearly 1% ju1% just ts quarter. the ten-year yield at 2.91%, despite the hawkish fed earlier this week. japan on the rise by a half percent for the nikkei 225

the two chinese indexes falling a few tenths and the ftse 100 is up about a percent. i say it and now it's down a half percent. ahead of the opec meeting, oil is slightly lower. the price of brent crude and wti down and in the currency markets it will cost you 1.16 to get one euro king dollar continues to get stronger throughout 2018 let's get to the news that is moving the markets. that's trade and tariffs president trump is ready to move forward and impose tariffs on 0 $50 billion of chinese imports that announcement expected to happen today eunice yoon joining us from beijing with more. >> reporter: thanks, brian we're expecting the trump administration to release the list of targeted goods as early as in the next few hours sources here in the american business community have told me that the u.s. trade

representatives office have notified them that president trump has approved the list of tariffs at 25% also that list will reportedly be slimmed down from the original 1300 product categories to about 800 and that more tech products will be added to the list what's unclear is exactly when those tariffs are going to be imposed. we're expecting an almost immediate reaction from the chinese. the foreign ministry just a couple moments ago said that china would respond instantly to defend its interests one source who i spoke to who spoke recently, in fact yesterday with the chinese commerce ministry said those -- that the ministry plans to retaliate quickly, and that the specifics of their actions could be announced as early as tonight your time. the chinese said they plan to match the tariffs product for product on the same amount of goods. also that the tariffs will likely cover soybeans, and that

the deal negotiated in washington will be off the table. so the multibillion dollar offers for purchases of l & g or farm goods will not be available any longer to the united states. the reports also hit the shares in hong kong of the telecoms company zte. investors were afraid that the rescue deal is now off and all of this is creating a lot of uncertainty, brian, including some other reports that the qualcomm/nxp deal is now still not approved by chinese regulators, and it's all going to be unwelcomed uncertainty today for president trump xi, because president xi is celebrating a birthday today. so this is probably going to rain on his parade >> eunice yoon, thank you.

let's stick with news out of china. chinese regulators are reportedly close to approving qualcomm's proposed $44 billion deal for nxp semiconductors. reuters says the deal has not received the final green light despite other media reports. shares of qualcomm and nxp are higher on that news. at&t completing its $85 billion deal for time warner this came shortly after the justice department said it would not seek an injunction to stop the massive deal that deal gives at&t a wide ranging media and entertainment portfolio including hbo and cnn and rights to major sports leagues and film franchises. we'll hear more about this mega deal coming up later when randall stephenson will sit down with "squawk box" today, 8:30 a.m. eastern time. do not miss that

let's turn back now to the markets. futures pointing to a lower open the nasdaq sticking around an all-time high. big technology stocks continue to climb let's dig in more with eric ross from casend securities i believe it was the last time or one of the last times that you were here you talked up twitter. >> absolutely. >> you had a bullish call on twitter. >> not popular >> it was on the facebook anniversary. >> you were right twitter was up 41% since that call. >> yes >> great call on twitter >> appreciate it >> are you sticking with it now? the gain has already been made >> we had some short-term gains, but twitter is a profoundly different company than last year they figured out they are a content delivery system rather than a social media company like facebook that makes it easier to sell ads, to attract videos, deliver videos people are excited

>> twitter did something this week that didn't get a lot of attention because of the way they put it out. they put it out in a tweet stream, if you read between the lines, twitter has almost acknowledged we are not a social media company. we are a news distribution, which a lot of people -- we talked about this for years, it's a wire service for the modern age >> it's a cable network with a million channels rather than just 200 >> so despite that good call, up 40%, you believe there's more gains to come? >> we have not seen the quarter they just turned profitable. they had two quarters of profitabilities. we're looking for a dollar next year but that number could be much higher if they continue to raise the average revenue per user >> it's hard to calculate because apple keeps buying back their stock. you can't say there's an x number of shares times the share price gets you to a trillion

do you believe 2018 is the year that apple hits $1 trillion in market cap >> absolutely. i think it will happen soon. apple is not just an iphone company which is important for people to think about. they have a huge base, and they're basically just starting to sell iphones to it. >> you're talking about the services type business itunes, app store? >> exactly that's part of it also things like apple watch apple watch has been a success out of nowhere >> has it? >> it has as far as we've been measuring. people are excited about that beyond any of the other watches we see out there we think they will sell 25 million units. >> do we undersell, we meaning the media or analyst community, do we undersell that aspect of apple when we focus too much on this part of hardware? >> it's a big piece of the business here. we're talking about a 10 bil yon dlion

market for watches >> you think it's going to get there? >> 10 billion, the whole year. >> apple's services business, their second business behind the iphone, is bigger than facebook's entire business >> apple's separate businesses are all fortune 100, fortune 50 companies. >> fridays we try to make them opportunity fridays. give us some good ideas. you love the cloud infrastructure, but everything is calling itself that i should call this cloud exchange it will get a higher multiple. you know what i mean we're a cloud company. you make cement. what is the cloud company halo what you like to invest in now >> we're looking at the infrastructure that people can put their business on the cloud. so, you know, we have a buy on amazon aws >> everybody knows that. give me something else >> that's the weakest one. people selling into that are really the people we're looking to see the gains

so you're talking about intel. people don't like intel because they think amd will take over. >> it's old. they make old things >> they do, but those things are increasingly used in service so their business used to be 100% pcs, now it's 50% data center >> and driverless cars some cool new technologies out there. intel is evolving. >> absolutely. >> they're not dude, you got a dell there's more to it you think intel is a good cloud replate elated play >> absolutely. if you buy a server, it will have intel in it micron is the other one. >> micron, intel, still like apple. great call on twitter. thank you very much. eric ross, casend securities kate rogers has the other individual stock stories >> facebook's public relations chief is stepping down, he has led facebook's response to

scandals involving data privacy and election meddling. he's the third high-level executive set to leave the company this year. adobe system's second quarter and earnings beat forecast results were driven by strength from the digital media business which includes the creative cloud software, but shares are down today as adobe expects third quarter revenue to fall in line with estimates. h & m reported second quarter revenue that missed forecast they continue to be hurt by discounts eating away at sales as they try to reduce a record level of inventory back over to you >> kate rogers, thank you. we are just getting started on a friday on "worldwide exchange." on deck, call it a mcshakeup mcdonalds making changes to the way we drink. and later, the countdown to opec why yesterday's world cup soccer opener may have actually been a grade metaphor for the very testy meeting next week.

stick around

. welcome back good morning happy friday here's how your money and investments are setting up the week the week is weak dow futures down 99 points at the open it is early. things change. treasury bonds on the move higher the yield at 2.91% mcdonald's rolling out super sized changes to some restaurants. it's a story we can drink down this morning

kate rogers has the details. >> mcdonald's said it will start testing alternatives to plastic straws later this year they are also switching to paper straws at more than 1300 restaurants in the uk and ireland in september after the government proposed a ban on plastic straws mcdonald's said it has been exploring different types of straws in belgium and will try them in france, sweden and norway later this year in malaysia it will only give straws to customers if they ask for one. environmentalists say plastic straws don'tdegrade and are not necessary for most people the ceo talked about how they are trying to step up recycling efforts. >> when you have 60 customers a day, you need a lot of straws. we'll continue to explore. we're trying to contribute back in any way we can to society, whether it's through training of our people, through

environmental standards. we're the only restaurant business that signed up to the paris climate accord on reducing gas emissions. whatever we can do around waste and recycling is a visible part of our business. >> mcdonald's is not the only major straw user to toss them aside. royal caribbean promised to eliminate them by the end of the year and whalaska airlines will get d of plastic drink stirrers. so mcdonald's is putting them behind the counter, where you have to ask for them >> let me ask you this important question, do paper straws work or do they turn into mush? >> i never used a paper straw, so i don't know. >> somebody must know. if mcdonald's is going to change a product, one would assume that product has been vested and tested on thousands of thirsty

people, maybe millions >> you would assume so i would like to point out that a lot of big restaurant players are doing things like this chipotle introduced compostable burrito bowls. so companies are stepping up to make big changes kate rogers, we'll see you for trending >> i'll be back for almost every black. >> that's a story, a 7-year-old boy making headlines. and kate, this is your story. a breakfast alert. a recall having to deal with breakfast to tell you about. we'lgi y tl veouhat story when "worldwide exchange" returns

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welcome back 5:20 in the east thank you for being with us. it's been a decent week for the stock market the top story is president trump is expected to impose tariffs on about 50 billion of chinese goods. the chinese expected to retaliate. dow futures indicated down at the open about 106 points. tech and small caps have been on fire so far. now to a story that's splashed across the cover of every major national newspaper the justice department revealing new insight into its probe into how the fbi handled the hillary

clinton e-mail scandal tracie potts is live in washington with more >> good morning. this is 500 pages of what was going on inside the fbi while you were getting ready to vote in the 2016 presidential election and the white house says it justifies why fbi director james comey was fired. the justice department's inspector general found james comey used bad judgment but was not motivated by politics while investigating hillary clinton. >> this report did not find any evidence of political bias or improper considerations actually impacting the investigation under review >> it did call comey insubordinate and extremely careless for going public about the clinton e-mail investigation without telling his bosses it accused him of a serious error in judgment for reopening that investigation days before the election

comey tweets that's reasonable, even though he disagrees >> nothing in this report lays a glove on special counsel mueller or the russia probe. >> reporter: it does reveal anti-trump text messages by fbi officials investigating russia he's not ever going to become president, right one asks the other says, no, we'll stop it >> people played this political bias and injected that into a department that shouldn't have that. >> reporter: the report also criticizes comey's use of personal e-mail while investigating clinton's. but my e-mail -- the new fbi director christopher wray says they will use the report to train employees at the fbi whatnot to do. back to you. >> i have a feeling both sides will use this for their own political end, just a sneaking suspicion. let's get a check on the other headlines outside of the world of money and business. phillip mena has that. good morning

thousands marched in rallies across the countly to p lly cou protest the trump policy on immigration. demonstrators calling separating families cruel and humane but the white house is defending its policy jeff sessions says having children does not grant migrants immunity from prosecution. a harrowing ride in florida after a roller coaster derailed. ten passengers were rescued from the ride two people on the ride fell about 30 feet to the ground and two others were left dangling. six riders were transported to the hospital. kellogg's is voluntarily recalling a popular cereal because of possible salmonella contamination. kellogg was alerted by the cdc and the fda, they say the

bacteria has not been found in other products >> scary stuff in daytona. thank you very much. trump expected to impose new tariffs on china are we one step closer to a trade war? and some top investment opportunities for you as we continue our find opportunity friday our guest says you have to bet big on computers, coffee and spam the food, not e-mail stick around

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it's 5:26 on cnbc, good friday morning here's your big reset. wall street pointing to a lower open the nasdaq starting to pull back from a record high. the white house expected to unleash a new wave of tariffs this morning china may retaliate. and oil prices in focus with just a week to go until the big opec meeting in vienna we'll dive into the stories you care about as this friday edition of "worldwide exchange" rolls on clubbing here on friday morning. welcome back thanks for being with us on cnbc i'm brian sullivan thanks for joining us from wherever in the world you're watching let's get you up to speed on what's leading cnbc.com. it's a triple deal -- or a triple play of deal news at&t competing its buyout of time warner. this came shortly after the

justice department said it would not seek an injunction to stop the deal that deal does give at&t wide ranging media and entertainment portfolio including cnn, sports leagues and high profile film franchises chinese regulators are reportedly close to approving qualcomm's proposed $$44 billio with nxt qualcomm laying off employees after its merger with brocade communications broadcom saying it is evaluating its resources and may lay off more people. it's ban faeen a fairly dec

week for the stock market. small caps and technology stocks have kind of shrugged it off they have done great technology mostly at an all-time high small caps up 11% just this quarter. these are domestic names the bond market at 2.91% the yield not inching closer to 3% let's bring in chad morg morganlander are you surprised that you're up at this hour that's one thing are you surprised the market has not reacted more negatively to so much of the headlines that we've seen this week doesn't seem -- technology and small caps, they want to go up no matter what, feels that way >> looks as if on the monetary front, the federal reserve will continue to raise rates, maybe a little bit more assertive, more than expected. when it comes to trade relation issues, that's a critical

concern. we don't see that hitting the global economy in the short-run. over the long-run, there can be a major issue from that perspective. >> that was a cameo by kate rogers it's live. i love live television kate, you never fail us. don't worry about that so, let's talk about it. again, we're looking at -- we have 50 billion, i understand it's not a giant number. we have basically a little sort of kick in the shin by the president to the chinese on tariffs. they will kickback there's a lot of worry that this is the beginning of something bigger the market doesn't seem to care. futures are down by a half percent. >> it doesn't care yet let's take a company, little company named procter & gamble if you start to have trade tariff issues that accelerate, then you could see a company like procter & gamble reduce their expectations for the

emerging market growth segment of their business. that will start to hit not only profitability but also the stock price overall. >> fridays on this program we will try to turn it into finding opportunities. spam, not unwanted e-mail, but the delicious food product, hormel >> here's the story about hormel, we think margins will expand we think the actual stock price has been depressed based on concerns about costs going higher and those costs not being passed along this is a growing profitable, well-capitalized company it's in the consumer staple market the consumer staple side sector has been beaten down considerably like the worst performing sector of the year. we not only like hormel, but we like smuckers, pepsi, hershey's. you can buy good quality companies, get a rising dividend >> i know you like starbucks

smuckers, a giant coffee company as well, not just a jam and jelly company, is that part of the thesis >> with starbucks, we like that because of the global growth expectations on the em side. when it comes to smuckers, we think you'll see the coffee business bounce back and once that happens margins will expand >> i've been waiting to say this all morning. why do you think the microsoft stock will excel >> excel we think the stock price will continue to improve. margins will continue to improve. you can see that from oracle and others, global growth will continue to accelerate >> i think this segment was on powerpoint thank you. >> thank you

now to today's top story, and that is trade. president trump set to impose tariffs on 50 billion of chinese imports, that announcement expected to happen today kayla tausche has more on this >> reporter: it's been in the making for a while, but yesterday the president green lighted the decision to put 25% tariffs on an array of chinese products that list of products, i'm told, is about two-thirds of the products originally included on a tariff list published in april. that's according to three sources familiar with the matter some items were removed after u.s. companies raised concerns during a comment period. another set of products will replace them that will restore the tally of total exportstargeted by the white house to $50 billion. here's the catch only items that were included on the original list could be taxed immediately. talking points were circulated and products were uploaded to a government database on wednesday, that was seen as a

precursor to implement take before trade principals met yesterday to finalize the decision the white house has not commented specifically about our reporting. here's what the press secretary, sarah sanders, said yesterday. >> since i'm not making any announcements, it would be hard for me to give details of an announcement we're not quite ready to make. whether or not we will, we'll keep you posted. >> the move would effectively end the one-month trade truce between china and the u.s. china said it would retaliate swiftly. we'll see what is contained in that list later on today brian? >> any surprises expected from that list? a lot of the stuff is back-end chemicals, we don't understand what they are. what do we expect? >> they're components, larger pieces of big product puzzles. on a list of 800 to 900 products it's hard to cherry pick one item and say this will have an effected on the economy. we'll have to see in aggregate

what the dollar amount of that list is. some reports say it's in the range of $35 billion. that's some of the reporting i have we'll see what's on it, how it affects companies and how the administration decides to plug that difference with, and if they go after specific industries strategically in that way. >> yeah. you get a lot of people out there, i'm sure you hear it on social media hey, take it easy, it's not a trade war, it's only $50 billion, that's true, but everything starts somewhere. >> that is true. for companies making these products, their input costs are real things. on one hand, you know, you do have $50 billion being a relatively small percentage of u.s. gdp and even u.s. trade with china for these companies on the ground trying to forecast what next quarter, what next year may look like and trying to game out

how this scenario will turn out at that point, that's nearly impossible for them. >> kayla tausche all over the trade story with that news breaking later today as well see you soon thank you very much. >> time for the top trending stories. kate rogers is back from her brief cameo. >> you see how i rush to set i didn't want to be late >> your hustle was impressive at this hour. >> thank you very much stunning new pictures from guatemala's volcano. a drone image caught these images the deadly volcano roared back to life earlier this month it has been erupting since they say there's no crying in baseball but we will excuse it this one time for this story a 7-year-old battling cancer knocked one out of the park yesterday after being given the chance to hang with his heroes the white sox. alex estrada got to warm up with the team and stepped into the batter's box and hit a home run.

on his way around the bases he collected high-fives from all the players. doctors expect alex will make a full recovery. i love that story. >> that's the big news, he will make a recovery. look at that >> so sweet. he looks so happy. >> that's great. as a father, i'm getting a bit -- next story. >> very sweet. if you're the betting type, keep an eye on this feline profit during the world cup achilles the cat predicted the outcome of yesterday's world cup match. two food bowls were placed in front of the goal. onerussia, the other saudi arabia the cat chose to pick from the russia bowl. later in the day, russia defeated saudi arabia in the first game >> they beat them badly, 5-0 mohammad bin salman and putin were together. remember paul the octopus? >> no. >> he was the big producter ipra

previous world cup he had a 90% success rate. if you combined the cat with the octopus, you would have a cephalapod >> i like that from one patch of green to another, the second round of the u.s. open teeing off in about an hour course conditions were rough yesterday. only four golfers shot under par. the best shot of the day came from one of the guys tied for the lead dustin johnson on the 8th hole, 2016 open winner blasted it out of the bunker ball bounced once, did a loop around the cup before dropping in johnson in a four-way tie for the lead still ahead on "worldwide exchange." small business has wone big problem. kate has an issue plaguing main street that may hit the economy. and a picture is worth 1,000 words or a billion barrels a

day. why this soccer image could rock the oil market we'll tell you more about what we're talking abt.ou it's a big story coming up 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.

welcome back stock futures down about 100 points now keep an eye on stocks. let's talk jobs. one of the big issues plaguing small business, it's not tax and

regulation, it's finding the right workers. labor quality is listed as the top problem for main street for the fifth month in a row kate rogers has more on that >> economists say the labor shortage is hitting businesses across all industries and skill levels mike frederick is desperate for workers. the owner of mcm composites says he is short 15 people at the company which manufacturers custom thermoset molding >> athere are no workers the economy picked up, everybody is looking for additional workers but the market is so thin we can't find them. we have gone to extraordinary means to find people that will actually work. including going to the local county jail and recruiting people to work from inside the jail >> reporter: he's looking for low-skilled workers who he's willing to train and pay above minimum wage

like many small businesses frederick is crunched by a tight labor market bob traber is also feeling the shortage at boston engineering which has 65 employees he needs 12 more engineers and says the strong economy doesn't make competing with large business force hires for hires . if we can't satisfy the demand of our clients because we can't staff the jobs, there's only so much we can do with temporary resources. we have to have the core people here to deliver the quality dli clients demand >> both companies offer competitive wages. both of them have not been able to find the right people for the job. >> it is hard out there. you travel all over the country. you talk to small businesses there's help wanted signs everywhere at what point do we ask companies, maybe not mom and pops, but semi big companies, if

you want the people, you have to train them >> people like mike are a great examples he said i'm just looking for someone who will show up and do a good job i'm willing to train in them, invest in them we put this story on twitter people said are they paying enough, offering benefits and wages. they do pay competitively and they offer benefits, but they still can't attract the workers. >> i get that a lot, too, i hear that a lot they're not paying enough. i understand everybody wants more than less, if you're making nothing, isn't something better than zero? >> we're talking high-skilled and low-skilled. mike is paying above minimum wage, and the other job is paying 70,000 a year bob paying $70,000 for entry

level engineer positions he says it's harder for smaller businesses to come pete anpete, especially in a big city >> and when you look at the money, you look at uncle sam taking their cut, if you look at housing, i can understand frustration. still ahead on "worldwide exchange," oil squarely in focus. we count down to the big opec meeting. we'll tell you all the different story lines. a lot of stuff going on with opec and firing up the time machine. today's rbi will take you back to 1884. it's going tbeo a wild ride stick around

the first survivor of alzheimer's disease is out there. and the alzheimer's association is going to make it happen. but we won't get there without you. visit alz.org to join the fight.

it is 5z 5:47 on the east

coast. that's times square in new york city somewhere to the left, see that flashing giant screen. somewhere to the left is the nasdaq market site you can't make a left, because it's a pedestrian walkway, you will get assaulted by people in elmo costumes now. you go down there, that's the nasdaq that's where the "squawk box" team is ready. joe kernen is getting not ready yet, but he's getting all set up times square, i would love to know what the electric bill is for times square let's go now to the team at the nasdaq market site >> i'm ready i was ready. i was looking up the top five venues i think shinnecock, i don't think there's a doubt it's number one it was so great. >> i know you want to focus on tiger, how about that poor kid from england who is the only person, i think ever or in our lifetime to shoot over 90. he had two pars, no birdies, six

double bogeys. he shot like us. >> that would be the front nine for me i was trying to explain, you see our set? put a ball over there, and take a golf club and try to land it on this. try to land it on this table i don't know how much you got to watch yesterday. >> you think they made it too hard >> i love it dustin johnson can shoot 1 under. a lot of guys at even. when we talked about tiger versus the field, tiger is great. i don't know his game has to be back to where it was with this much tougher field he has. dustin johnson, i read a couple of quotes, i read a lot of analysis you walk by people and they go and god created agolfer. they said that in the past, how athletic he is you translate that athleticism, and then he gets better and better

mentally he gets better. people think he might have a good chance again here >> i think so. >> oakmont and shinnecock in three years. and those are the greatest pebble, oakmont, shinnecock. >> arnold palmer's home course what is your first question going to be to randall stephenson of at&t >> i think i'll ask him to convince me that he has the hollywood chops. i know randall he was on the cover of the hollywood reporter he's a down to earth guy he's from oklahoma i sent that to him i said mr. hollywood and he -- he understands that he will have to change a bit. i don't think he will, though. that might be good he doesn't want to be called mr. hollywood. he sent back and said what doesn't fit with this picture? >> this is random, but you know

what i was thinking? in all these media deals what's been lost, it's irrelevant, but i think it's interesting, the new capital of media is dallas and philadelphia it's not new york or hollywood anymore. at&t's based in dallas comcast, once we complete our merger for fox's assets which is likely, will be philadelphia those are the new capitals of media. >> random but interesting. >> rbi >> those two are in a battle royale with silicon valley >> it's not new york and l.a >> i would say silicon valley right now is the capital they fit in perfectly with media. i don't think a single republican lives in that zip code we could use some dallas influence in main street we will talk to randall. that's at 8:30 what's the other thing i wanted to ask that's the primary thing

maybe what are the plans about directv? that got him a stepping stone to this maybe we'll ask him about cnn. that might be fun. >> a lot of stuff there. 8:30 a.m. eastern. have an awesome time see you then >> so you diverted me from talking about your tiger pick, since he had a triple bogey. >> i was asking you if you would take that. >> if i would take him against the field. you're going back five years, ten years. >> i'm reading the book about tiger, i'm too much of a believer, i guess. >> that course, brian, you say a 90 there's no way either one of us would think about being in the 90 area. >> not even close. too hard >> i hope the wind stays i hope it stays dry. i hope the sun bakes the green remember retief in 2004? it was the hardest course ever

this is awesome. >> good stuff. you're a hard golf task master, joe kernen all right. let's talk about next week and a huge opec meeting. i want to talk to you about sports you know why >> world cup >> yesterday the world cup opened up. you think where are we going with this? saudi arabia versus russia look at that vladimir putin on the right, and the head of fifa in the middle, on the left, mohammad bin salman russia destroyed saudi arabia 5-0. but this is an interesting partnership in oil, too, is it not? the saudis and russianing are co russians are really close. do you think they talked oil a that game yesterday? >> i think so. the russians in 2016 said we will not join opec officially, but we'll join you in a cut. now you could say russia is leading opec you have a whole host of trade

deals signed between saudi arabia and russia. and they seem to be discussing a host of security and economic and a host of issues >> what do you think they said to each other about oil? >> i think they said that they will continue to cooperate so even when the official 1.8 million barrel cut expires, they will cooperate in the market they will manage this market >> there's a lot of big story lines next week for opec you will be there. >> yes, it's my super bowl >> is it iran versus everyone else >> iran has venezuela and iraq >> iran and iraq are partnered up with oil? >> in terms of their position that there should be no incremental supply additions venezuela is going one way the iranian also see their barrels roll off because of

sanctions. and the iraqis are taking the second largest cut in opec they don't have the ability to put more barrels on the market because of problems in the north. they are saying we should not allow outside powers to dictate our policies >> do they have the power to do anything about it? they can complain, but can they change nything >> they can essentially say we don't want to sign on for this deal you either get everyone agreeing to do it, and statements saying we will add 500,000 barrels to the market, or you get no statement and the saudis and russians do what they want >> president trump tweeting out about opec yesterday >> second time >> people are saying if you back us out of the iran deal what do you expect to happen to oil prices you're taking off barrels of oil every day. you can't blame opec and slam iran >> what the democrats have said is this a self-inflicted wound

you made the decision to pull out of the iraniannuclear deal now these are the consequences president trump's opinion is the saudis, the emiratis wanted the u.s. out of the nuclear deal they should help us in terms of putting additional barrels on the market >> helema croft, i know we'll hear from you a few times next week >> yes >> it will be great. time for your morning rbi. we mentioned vienna, home of the oldest ferris wheel in the world. happy early birthday to the roller coaster tomorrow marks the anniversary of the world's first roller coaster. on june 16, 1884, the old switch back raille rway opened up on cy island creating roller coaster mania in the united states we had that terrible story from

daytona, maybe go out and hit universal this weekend, have a great time we're live in london and vienna next week. have a great weekend "squawk box" is next hange of sc? the kayak explore tool shows you the places you can fly on your budget. so you can be confident you're getting the most bang for your buck. alo-ha. kayak. search one and done.

good morning a developing story president trump set to green light tariffs on $50 billion of chinese goods. a live report straight ahead. and at&t closing its acquisition of time warner we will talk to at&t chairman and ceo randall stephenson in a "squawk box" exclusive animal spirits are alive the nasdaq posting another record close this time some media stocks were cashing in also tech stocks on deal making. could be more of that.

it's friday, june 15, 2018 hopefully the wind will be blowing again in shinnecock. "squawk box" begins now. ♪ live from new york where business never sleeps, this is "squawk box. >> good morning, everybody welcome to "squawk box" on cnbc. we are live from the nasdaq market site in times square. happy friday i'm becky quick along with joe kernen and andrew ross sorkin. let's look at the u.s. equity futures. yesterday was a mixed day for the markets. the dow was down, the s&p and nasdaq were higher this morning there are som arrows weighing on things. s&p is off by 10, the nasdaq off by 13. look at treasury yields. yesterday the yield sunk further, down to 2.948% this morning