it is 5:00 a.m. at cnbc global headquarters. breaking news on amazon. the retailer launching another new delivery service. a bank bust. financials in the middle of their longest losing streak ever. oil calms down a bit things are still heating up globally reaction flooding in after justice anthony kennedy says he is retiring from the supreme court. and chipotle shares under pressure after announcing store closings and new menu changes. all the details on your big stories on thursday, june 28th as "worldwide exchange" begins rite now

♪ good morning welcome from wherever in the world you may be watching. here's how your money and the global markets are setting up their day. stock futures indicating that the dow will not do a whole lot at the open. that's a big change. we're up a bit 69 points on a fair value basis. it la behas been a wild ride the dow futures have been lower, yesterday we saw a reversal, then a reversal on the reversal. today we're indicated up slightly but it's early we'll see if that holds. there will be more headlines, tweets the bond market, maybe the story in the last couple of months everybody said that bond yields would be at 3%, 3.5% right now we're at 2.85. bonds simply cannot get out of their own way. two big movers we would like to call your attention to on

this fine thursday, that's the banks and the oil stocks bank stocks, if you're keeping track at home, have fallen for 13 straight days that's vis-a-vis some of the biggest financial etfs that's their longest losing streak ever. in the meantime oil is slightly lower, but hit a 3.5-year high yesterday. wti crude is back above 7 2 a barrel the hang seng is up slightly, other markets are down south korea is down over 1%. in the european markets, a similar story. a rare, calm day the markets are down, but they're down a couple tenths we were seeing nearly 1% moves most of this week. let's talk more about the global markets and your money with gina

sanchez. nice enough to -- i guess this is like a layover for you on your way back to l.a thanks for stopping in >> you're welcome. >> okay. a bit of a calm morning. that's a good thing. we can pull back now, think about everything that's going on if we get, and trump said last night he didn't think we would have a trade war if we got one, any way to know what that would shave off of the global economy >> the analysis, it depends on how hard you model that trade war. we're assuming we don't go the extreme route, which looks like it's off the table that sent stocks trying to rally yesterday. >> high do you say it looks like it's off the table >> seems like the trump administration has backed away from the navarro view and has gone towards the mnuchin view. >> or the kudlow view. >> and so that would be better, but even if that sort of more moderated scenario, you're looking at 2019 of taking 0.6%

off of growth for gdp in the u.s. >> if we get it. >> if we get it. >> last night trump said our trade partners will come to us say let's work it out, we'll make a deal, everything will be fine the crowd roared he got approval by saying it would be okay. >> yeah. saying it's going to be okay and having it be okay are two different things the fact of the matter is that we're dealing with countries that china will retaliate. it will almost certainly retaliate. if you look at what's happens with nafta, mexico retaliating you're talking about countries with a long history of conducting trade war that's a challenge >> china's schtick is relatively small. china punches above its own weight because the overall economy is big, but the per capita of economy is not that big. average income is about 6,000 u.s. dollars and they don't buy that much stuff from us.

>> depends on how you view that. they have a few different ways of seeing it one, they have been growing household buying power it's been a priority of the central bank to see household buying power continue to increase that's likely going to happen. second, china is the largest holder of u.s. treasuries. that's a very big thing. >> they also have the possibility of devaluing their currency, which would set off an inadvertent trade war by devaluing the price of goods automatical automatically. wouldn't that make them look weak i can't imagine president xi doing that you're looking in the mirror saying, i'm not as good looking as i thought i was >> president xi is a very, very tactical guy he will do what it takes he plays the long game this is a guy who's been slowly

gathering power for years. for a decade to think he could be okay -- he won't try to win every war he will lose a couple battles to win the overall trade war. >> i have to say to viewers that i'm sorry. i fell like i failed us because we have not talked enough about europe i tweeted out the other day, when you look at the numbers, europe's economy is so much bigger than china. they buy exponentially more in goods and services from us than whine th china does why are we not talking more about europe why is china getting the headlines? >> china is getting the headlines because it's splashy if you look at where trump is focused, it's on ip theft. those kinds of stories you don't have that in europe. europe would get hurt, even if you look at the analysis we did, europe doesn't get hurt as much.

they only take about 3 percentage points. it's off a muchlower number, but still europe is embroiled with the uk stepping out of trade. >> winding down their qe program. >> exactly they have a lot going on, but europe could fair better >> i think we should do "worldwide exchange" live from the beaches of spain >> i agree >> gina, thank you. financials are moving slightly higher today in the premarket. this is after posting 13 straight days of declines for the xlf financial spider etf gerard cassidy joins us now. what is going on with the banks? >> brian, i think what you're seeing with the banks is a concern that the yield curve is flattening further due to not only the trade talk that you

mentioned, but also due to the possibility that the u.s. economy could slow down. we're not in that camp, if that were to be the case that's one reason you're seeing the weakness in the stock. >> help me connect the dots between some of the banks and the trade war. i can understand if we're looking at jpmorgan, morgan stanley, global banks, if the global economy slows down, i could see their loan business or bond business slow down. i do not understand the mid and small cap banks in the u.s. getting whacked. how are they getting exposed >> coming into the year the banks were hitting record highs. we had the tax reform coming through for us earnings for this year will break records. going into the trading activity you had some very strong momentum the momentum was driven by this tax reform, but second there was

regulatory reform that was expected on top of that the expectation that a stronger economy was going to lead to higher interest rates. we have regulatory reform and it's moving forward. that's been priced in. the economy activity is going to put a four handle on real gdp which leads to higher rates, but there's also a fear that the fed may not raise all the rates because of this trade issue. the yield curve is going to flatten and maybe the speculation that the yield curve could invert if that happens that points to a recession, which is really a challenge for the banks. it's all kind of coming together in the last 12, 13 days. we think it's overdone we think it's a great buying opportunity, especially with the

c-cor results coming out today what is c-cor again today? >> the stress tests for the largest banks to determine how much they can pay in dividends and issue in stock buybacks. we expect recordnumbers today. we expect companies like regents financial, bank of america, key corp to put up strong numbers. goldman sachs and morgan stanley, their numbers will not be as strong because their capital ratios are very good they may be required to be tempering what they give back to shareholders >> so many of these banks may be oversold and look good as longer opportunities? >> i agree with you. to your point , the regional banks look really attractive if you don't believe the u.s. economy is going go into

recession, it's the time to buy them >> gerard, thank you very much that xlf, there's about 70 stocks in them, but it's not a diversified etp. b big banks will move that. amazon announcing a new last mile delivery service. the company will offer incentives entrepreneurs who set up their own small package delivery business. hey you, become a mini u.p.s. or fedex. amazon unveiling a dark gray van with a prime logo that it would lease to businesses. it would also provide uniforms and insurance programs for fleet operators and offer classes on taxes, payroll this is all a part of the effort of getting goods the last mile and shares of chipotle are feeling heat after the ceo

announced some big changes landon dowdy has more on that. chipotle's new ceo rolling out a turnaround plan during an investor call. he says chipotle will close between 55 and 65 underperforming stores in the coming quarters as part of a strategic review this will cost between 115 million and 135 million in restructuring charges. he also said menu changes were coming the food chain will offer more snack foods and a happy hour promotion and is also testing quesadillas, nachos. and also delivery is coming to the app this summer. the chain will offer a new loyalty program. chipotle stock is up nearly 60% since the new ceo took over in february trying to win back customers with better deals, more food, maybe more reason for us to eat

more >> sounds like they're betting on booze is that a fair statement >> i would say that's a fair statement. you have the $2 deals with the taco this was also happening when he was at taco bell, so modernizing here >> chipotle, date spot. we are just getting started on "worldwide exchange." coming up, more reaction on the tariff tussle. we have live reports from beijing and brussels straight ahead. and then step aside, fifa, the quidditch world cup is topping headlines this morning it's a harry potter thing. stick around two, down, back up!

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that's why xfinity mobile can be included with xfinity internet which could save you $400 or more a year. it's a new kind of network designed to save you money. click, call, or visit a store today. welcome back we have another warning on tariffs from toyota. toyota with a warning for president trump. it says a 25% tariff on car imports would hit you and i. toyota forecasts the move would increase the cost of every car sold in america. the company noting for one that the cost of its camry would go up nearly $2,000 per car sticking with trade, we are getting reaction after america softened a bit its trade approach with china. let's get the reaction with china from eunice yoon

>> thank you very much china does not see this as a softer approach. the chinese xhecommerce ministr today criticized president trump saying we do not support tightening foreign investmen investment requirements on the grounds of national security in the first five months of the year, chinese direct net investment was negative by 7$7.8 billion after the u.s. used to be one of the biggest recipients of chinese investment. in washington, president trump's decision to go with cfius is being seen as an olive branch to the chinese. but that's not necessarily the way it's being viewed here because cfius is seen as an entity here as one with teeth. beijing has not been a fan because cfius has in the past

blocked many major acquisitions by chinese companies beijing long complained that cfius is opaque and that it unfairly targets chinese investments. now the chinese see themselves in a situation with cfius that will be empowered, so that just means the obstacle for them will be that much bigger. >> is there anything in the papers or local media that there is a tone down about trading anything saying that trump is pulling back a bit any of that talk there >> in the state media it's really a mixed message because on the one hand you do see this one threat of thought that is that china and the u.s. should get along. we don't want to have a trade war. on the other hand, there is, as you would expect in a more hawkish state media about how

the chinese will buckle down so today in the state media there's focus on what the chinese state media were describing as a new cold war breaking out between the u.s. and china. >> eunice yoon, thank you. as we noted earlier, the european union imports nearly twice as much in goods from the united states than china does. there's big meetings going on in belgium today and trump talked trade last night at a rally. the european union was set up to take advantage of the united states to attack our piggie bank, right? we can't let that happen last year with the european union we lost 1$151 billion on trade. >> all right there you goch willem marx has more on the trade side of the story. >> we'll have a meeting of all

28 european leaders here this evening. they would dispute that number you heard from donald trump. donald tusk has adjourned this meeting later on today in his invitation he said he wanted to see deeper economic cooperation across europe because of this global political context. he said trump's policies placed immense pressure on transatlantic relations. he said despite tireless efforts from the europeans, that that western unity was under threat it seems the g7 meeting in quebec that ended so disastrously was a turning point for the european leaders they saw that as a moment where trump decided to totally disregard prior relationships. they think the divisions go much deeper than that so they'll have conversations this evening trying to figure out whether they'll endorse the european commission's policies on retaliatory tariffs, on 2.8

billion euros worth of goods, and also whether they will try to pursue long-term safeguards to protect steel and aluminum producers from excess dumping on european shores. >> when will we expect some kind of resolution? will they issue a communique or a rebuff is this let's meet and meet again at some other point in the future >> there's always going to be more meetings, that's what brussels is about. after this working dinner, after all 28 leaders sit down and have an open discussion about trade, there has been broad agreement on the policies towards the united states. we expect a statement after that meeting overnight. here is the most important question will you be asked today. are you ready? >> i think it's related to what you call soccer. >> you're brussels, england and

belgium play today here's the thing, the winner of the game probably will play brazil in the next game. the loser gets to play the winner of sweden/switzerland does brazil or -- or does england or belgium decide to lose today's game on purpose yes or no? [ speaking foreign language >> what gareth southgate has said he does not want to throw the game ahead of that result tonight. there's an english pub just behind me here my producer and i will be watching the game there, frying not to stand out amongst the belgiums >> amazing how you chose that as a location good luck. thank you very much. on deck, the latest on the most important commodity in the world, oil how three and a half year highs

on crude may hit your gas bill. and a datare bach may have exposed your information stick around

welcome back a troubling story. a new data breach may have exposed your personal information as well as details on almost every other american adult. how? a small florida-based marketing and data firm reportedly exposed nearly 340 million individual records on a public server

the information not believed to include credit card details or social security numbers, but it does reportedly include phone numbers, addresses and more than 400 other personal characteristics. let's check some other news headlines. phillip mena has more. >> it's a race against time in thailand as fresh flooding has temporarily halted the search for 12 missing boys and their soccer coach they've been trapped in an extensive cave complex for six days now divers have been working their way through the six miles of pitch black underground caverns, and now the u.s. and british are joining in the rescue efforts. new charges in the deadly attack in charlotteville, virginia james alex fields jr. has been charged with dozens of federal hate crimes.

and police in nebraska almost got their man this guy was suspected of stealing a car, he appears to be complying with the deputies commands, but watch closely. he's looking around, all of a sudden a car pulls up next to him and he dives right through the passenger window right place at the right time for this guy as soon as his friends come by, they are still searching for the suspects has the guy came yet eventually a car comes there's the signal he hops through this car you have to wait for it. >> there we go he jumps through >> he is signaling with his right hand or making dog motions. >> yeah. those guys had better timing than i just had. they're still gone still looking for those guys >> and he's wearing cargo shorts that are too long. >> violation >> moving violation. still to come on "worldwide exchange" justice kennedy's

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wall street looking to a slightly higher open maybe some global trade fears easing off. and justice anthony kennedy retiring from the supreme court a live report on what the democrats do now. and amazon delivers. the retailer making a big bet on

small business full details as "worldwide exchange" rolls on ♪ 5:30 on the east coast i'm brian sullivan thanks for being with us let's get a check on your morning headlines. landon dowdy has more on what's hot on the dot >> financials are tracking for the longest losing streak on record the banks have been losing for 13 straight days, making them set for the worst quarter in nearly two years. brian niccol says chipotle will be closing between 55 and 65 underperforming stores as part of a strategic review and they will be introducing more snack foods and a happy hour hour promotion walmart is rolling out a 3-d

virtual shopping tour on walmart.com, the page features an apartment from 70 national brands, and a buy the room option will allow shoppers to buy an entire collection to the car cart >> all right landon, thank you. another big headline for this thursday morning. justice anthony kennedy says he will retire from the supreme court. this will set off a frenzy and a huge fight over the supreme court. eamon javers is live in washington with more on what we can expect in the weeks, months, days ahead >> good morning. in addition to the legal implications, this is a huge political opportunity for president trump who has the option to fill the court with his second supreme court justice after appointing neil gorcich to

the court last year. he says he will soothe the feeffeef fears of conservatives he says he will stick to a list. he also said in a rally yesterday in north dakota that he might consider somebody on the list that will be on the bench for a long time. >> we have a pick that is coming up we have to pick somebody who will be there for 40 years, 45 years. >> that would suggest that the president is considering somebody in his 40s or 30s that's somebody extraordinarily young by supreme court standards. a number of the people on the president's list are already in their 50s.

here's the president yesterday speaking about ante kennedy's decision to step down and suggesting that he is going to stick with that list >> there are names that you know, that are highly outstanding, there are others, but they will come from the list of 25 people >> the president there giving the nod to the president of portugal who sat with him in the oval office yesterday. ultimately the president now is in the driver's seat politica y politically. the question is how quickly can they get this done yesterday republicans said they would like to vote on the nominee this fall. that indicates they're thinking of probably doing it before the midterm elections where the composition of the senate could change republicans control the senate right now. they are in the driver's seat. >> they will have to do that some of the commentary i read

last night and this morning suggests that there are a couple of democrats in the senate who are weak enough, maybe murkowski or others, they will likely have to hold their nose and vote for the republican candidate or risk losing their seat. is that what you're hearing as well >> absolutely. we entered an era where it is assumed partisan divisions will affect this supreme court nomination the old days of the supreme court nomination fights up on capitol hill, i'm not talking more than about 20, 30 years ago, supreme court nominees were overwhelmingly approved by huge majorities, by partisan majorities the assumption then was the president was entitled to his pick now the assumption is that democrats and republicans will be at each other's throats i think that's true. there might be one or two exceptions for democratic senators running in states that the president ran. that's where you might see some wiggle room. but it's raw political power here if you have the votes, you got

the votes. if you don't, you don't. right now the democrats don't have the votes they can complain all they want about the precedent set by the merrick garland situation, but ultimately they're not in the driver's seat here >> likely 6-3 court for the next couple of years. >> kind of a calmer morning. look at that the dow is up 25 points. let's bring in peter boockvar. i will put you on the hot seat i want you to comment on politics tying together the news eamon did and the stock market sounds weird, but try to follow me on this if we get democrats who have to roll over on the courts, and if we get a congress and/or a senate that stays gop in the fall because of what happened in the new york primary and the democrats look like they have issues, if we get that, does

that merit good things for the united states economy? i'm not making a judgment about what political party is better for the market is it more likely we'll have gop control or a gop court for the next couple of years if you believe that's better, that's what you'll have? >> two things. i think the next justice on economic issues won't be that much different than kennedy. i think kennedy was more an outlier on the social stuff. i think in terms of who will take the house in november, i think trump got the legislative thing that he wanted that was the tax cut in terms of big economic legislation -- >> we're still waiting on infrastructure we have nothing. >> it won't move the needle. we live in new jersey, every day they work on some road i don't think it will matter

you are pulling workers from a house to build a road. i don't see the net economic impact i think trump got what he wanted in the tax cut itwon't matter in my opinion what will happen with kennedy or who will win in november >> i wouldn't be the first guy to try to tie money and politics together if the market goes up today, do you think you will get the headlines trade wars ease? >> no. the point of this was to bring people to the negotiation table. >> portugal was in the white house yesterday. >> but i don't know if they were discussing trade it seems like they were discussing other things in soccer i think as we hear about q2 earnings every call will be a discussion about what the

tariffs are and the impact on your business. >> this is the president who uses the stock market as his report card. if the market goes down, does thatforce the president to change his views because he wants the market to go up. we know that he said that >> i think so. down the road we'll have him tweeting about the fed as well >> peter boockvar, i knew you would roll the fed in, we'll see you soon time for the other top trending stories landon is back with those. >> a little world cup news reaction to south korea's upset of germany germany's loss meant mexico could advance to the next round. mexico fans celebrating outside the stadium. in mexico city fans rushed to the south korean embassy where they drank tequila with the south korean do

south kore south korean consul general. you will be watching england and belgium today. who are you voting for >> belgium, obviously. >> harry potter fans gathering in i lay for the optaly for thed cup. in the books they compete on broomsticks, so they are required to hold broomsticks between their legs while they play if you are looking for a rooting interest, the united states did not send a team. it's like rug by on the ground >> another tournament we didn't make landon, thank you very much. all right. coming up, how amazon wants to help you become your own fedex or u.p.s and oil at a near four-year

high we'll help you try to make money to pay off these gasoline bills. stick around

welcome back that's a live look at one of the hottest entrepreneurial cities in the united states, kansas city, missouri no doubt all you folks are getting going, getting your day

started. early for tuning in in k.c to today's top corporate story. amazon launching a new last mile delivery service courtney reagan, the prompter says you're live in seattle. what >> i was going to say, you went through east coast time, central time, what about pacific time? it's 2:44 a.m. here. >> did you just wake up or did you not go to sleep? >> use your imagination. could be a combination of those things either way, we're standing outside amazon headquarters because amazon has some big news today. fedex, u.p.s., dhl, postal service, amazon is launching its own new last mile delivery program today. this is called delivery service partners it's aimed at wannabe entrepreneurs. they will be vetted by amazon to run their own delivery network of up to 40 vehicles delivering

amazon packages in their area. each unit will start their day at one of 75 delivery stations in the united states an algorithm aimed at maximizing efficiency will determine which packages are sent to the amazon delivery stations, versus those other external delivery partners >> this is all about scaling cost effectively if you think about the growth of e-commerce, growth of parcel delivery, we have to meet this growth it's outpacing the growth of our core providers this program is all about enabling small business in small increments that can expand across the u.s >> amazon spent nearly $22 billion when it comes to shipping in 2017 that's about double what they spent two years prior. they say with this program entrepreneurs can get their business up and started for as little as $10,000.

amazon will help with discounts on things you will need, benefit packages, fuel costs, insurance and the like brian, back over to you. >> courtney, thank you i know how hard it is to get up at what time we get up for you to do us for viewers, thank you. >> thank you appreciate that. crude realities, commodities front and center oil pulling back from 3 1/2 year highs. those details after the break. later on, pedal to the metal for one of america's most iconic cars the morning rbi has to do with the corvette stick around

welcome back rainy thursday in times square oil dipping a bit today from

3 1/2 year highs energy markets nearly at 4-year highs. look at that jackie deangelis, we blinked, and oil is higher again. >> i have that effect. the headline on oil is that it is absolutely defying gravity, but there's specific reasons for that the first is that the market looks at the opec deal it doesn't think the barrels that will come back online are enough to make up for the short fall that we could see from iran remember, coming from the state department there will be a bit more pressure there for countries to cut their iranian oil imports. add to that the fact you have a robust summer driving demand season in the united states. you can see wti is not only over $70 a barrel but had a 10% gain in the last week alone getting very close to actually the price where brent is trading. traders telling me we sort of got caught on this one we didn't think it was going to move so far so fast. now that it has, there's

momentum in this trade you break through some of these technical levels, you continue to keep going higher then you get shorts covering because they're worried about where the price will go. with the strong demand we're seeing oil can go higher from here maybe possibly 75 in the short term july 4th is the peak of the summer driving season and we're approaching it >> we are. 75 is a big number jackie, thank you very much. let's bring in roberto freelander thank you for joining us so early. you heard jackie's report. do you think 75 is more likely than getting back below 70 >> the implied path, looking at the 2011 highs, the retracement levels point to 77 guys may not want to hear this, but i think we consolidate and back fill more towards the support zones, 62 to 65. do we go to 77 before 60 absolutely a few weeks ago, too much oil,

the last few weeks, opec made their cut. permian has bottlenecks, iraq has continued problems inventory -- like somebody stole 3 million barrels of oil here, how quickly have the data points turned bullish >> very quickly. in 5 to 7 days, the oil macro went from bearish to bullish we have a great driving demand season strong gasoline demand refinery rates at record levels. exports are also at record levels the back drop for the u.s. economy looks great. so things are looking bullish to year end for sure. >> here is the problem as you know there's still 1,000 plus ducs,

d drilled but uncompleted wells we call them. do you think the longer dated trade would be lower >> yes, absolutely the dirty little secret is there's about 7700 ducs in inventory in the united states now. 3200 in the permian. as the prices go higher on the front end, projecti ining 7200, 7400, these producers are putting ducs into inventory. we have been talking about the discounts to permian crude because they can't get it out to the market as this discount continues to stay wide into 2019, it just makes more sense to continue to add these ducs in inventory rather than drill. at some point they take them out of inventory, call the service provider and start putting on all these wells in inventory, which puts a cap at $77 to $80

per barrel >> the way they price is where you pick it up is huge that's why some of these stocks -- you guys at seaport have been great putting out the exact names of companies hurt most by the spread who are some of those companies? >> a lot of permian producers as a whole get hit. a lot of pressure pumping names, frac names got hit on this if you go down to texas and the perm ya permian, they try to get crude out by trucks. it looks like the l.i.e. during rush hour. we put out a lot of great pieces from the service side. a lot of these names are overdone

a lot of the producers have gotten oversold. a lot of the pipeline doesn't come on until 2018, 2019 >> a lot of names down significantly the last three months roberto, thank you very much let's find out what's coming up on "squawk box. andrew ross sorkin has a couple of ceos, the supreme court, it will be a big show >> in addition to that topic and so much more, energy secretary rick perry will be joining us. right after that, we have the agricultural secretary sonny purdue, we had secretary mnuchin yesterday. we are going around the horn the ceo of snap-on tools will also join us and then debate the big fight over 21st century fox's assets, where comcast may

stand or not in terms of coming back now with a bid relative to disney also we'll talk about -- have you been to the hard rock casino >> i have not. >> any of them >> no. but i did have the t-shirt when i was 16 if you didn't have the shirt you were the most uncool -- you had to have one of them. >> we have the ceo of the parent company of the hard rock hotels will be coming on talking about the hard rock being built in atlantic city. that will be a fun topic >> i heard that's a hot spot in vegas. i'm too old, alabaster to be out there. >> i think you'd like it. >> we'll check it out. some big individual stock stories this thursday include msg. the company planning to explore spinning off its sports business from its concert entertainment venue including the knicks and rangers. the sports business accounts for half of msg's revenues

that stock up nearly 9%. bed bath & beyond down sharply. retailer reported a surprise drop in first quarter same-store sales. the company says while the average value of coupons rose, fewer customers took advantage of them. apple and samsung are burying the hatchet. they are settling their seven-year battle over smartphones that went to the supreme court. this comes a month after the jury concluded there are damages to be paid. today marks the 61st or 65th anniversary of the first chevrolet corvette being built the core vvette launched on this day in 1953. it could only go 108 miles per hour a '53 corvette recently sold at auction this year for 319,000, a return of 1900%. you should have kept your core

v corvette if you had one. oh how far you have come see you tomorrow

stock futures in the green bank stocks posting a record 13 straight losing sessions and amazon announcing a new challenge to u.p.s. and fedex. it's looking for entrepreneurs to get into the shipping game. and justice anthony kennedy is retiring. president trump will have a chance to name his second justice in 18 months what does it mean for business it's thursday, june 28, 2018, "squawk box" begins right now. ♪

all right. good morning welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with andrew ross sorkin joe is off today joining us is kerry firestone, ceo of arias asset management. thanks for being here. >> thanks for having me. >> let's look at the u.s. equity futures. yesterday was a wild ride for the markets. the dow was up nearly 286 points at its highest levels. it ended the day down by 165 points as concerns crept back into the market. it was that interview with steve mnuchin on "squawk box" yesterday that started things, got people thinking that maybe the trade talks, all the tough talk buz