. 5:00 p.m. at cnbc. in london they are deadlocked. british parliament ascending into chaos after lawmakers striking down eight different brexit plans another big money verdict in the weed killer case involving roundup. are you ready for liftoff? lyft upping its expected ipo price range. we have an early and list call on that stock. wisconsin, we have a winner. one lucky person in wisconsin, $768 million richer this morning

after hitting the powerball. worldwide exchange begins right now. good morning, good afternoon, and good evening. i am brooun sylvan right there is a live look at beijing, china, where we reportedly have a major break through in u.s.-china trade talks. we will bring you there in moments, but, first, here's how your money and the global markets are setting up their day. the positive news that perhaps there is a breakthrough, futures not really moving that much. clearly, this is now you a show me, don't tell me market there is simply been so many headlines. futures are slightly higher. we are seeing the nasdaq, s&p, and dow up 28 points on the dow industrial average really the action lately has been involved. buyers have been flooding into treasuries the ten-year yield this morning at a remarkable 2.37%. remember, this time a year ago we had people talking about 3%

and 3.5% certainly not the case the other thing that has been controlling stock is oil now, oil is pulling back very slightly this morning. down about 45 cents a barrel still remaining near 59, $58.96 here well, new this morning, we are following two major developing stories overseas one, china reportedly making unprecedented concessions as high level trade talks ramp with the united states. absolute mayhem in british parliament overnight labradors striking down not one, not two, but eight different brexit plans our team of reporters are fanned out for you across the globe to break down both of these stories. let's begin with the late-breaking trade headlines and go to eunice in beige, china. >> thanks, brian well, the trade representative robert lighthizer and steven

mnuchin have arrived in beijing. they had told reporters that the two are looking forward to productive meetings. the commerce ministry also confirmed that the two are going to be having dinner tonight with the chinese vice premier where they're going to be talking trade and then continuing those conversations for the full day tomorrow the ministry also said that since the last round of talks, much progress has been made over the phone, but that a lot more work still needs to be done. sources who have been -- who are familiar with the negotiations have been telling me that the two still have to work out the undefined terminology in the text of the agreement. they also have to find a way to make the deal enforceable and clarify how and when tariffs will be imposed as well as close the gap on structural issues however, u.s. officials told reuters that they feel that the chinese have gone farther than they ever have in the past when it comes to the force technology transfer issue, saying that the scope and the size is unprecedented.

now, speaking at a forum today, the premier of the country also addressed the force technology transfer issue by saying that the new foreign investment law would go into effect next january. he added that we will heed the input from various parties, especially from foreign investors and that really shows that banali inbeijing is addres concerns of the trading partners, including the united states the chinese vice premier is going to be heading to washington next week to continue the negotiations >> quickly, what is our timeline remaining in beijing the talks continue tonight and tomorrow >> that's right. they conclude tomorrow, so friday, and then after that if everything goes well and according to plan, the chinese vice premier is expected to head to washington to continue those conversations and hopefully finalize a deal at some point soon eunice, thank you. now let us turn to the u.k.

for brexit negotiationed are in deadlock after british lawmakers struck down a flurry of different plans. theresa may says she is willing to step down just to get a deal passed willem marks is live in london with the latest on brexit for you. >> so we've seen twice theresa may's version of brexit be defeated in a parliamentary vote she's trying to get it through third time lucky, and as part of that process, she met with lawmakers from her conservative party yesterday afternoon, and under pressure said that she would not leave the next round of negotiations between the u.k. and the e.u. so long as they decided to vote for her deal she needs 75 lawmakers to swing around and back that deal. we saw about a dozen of them in the wake of that meeting saying they would do so for them a small irish party, the democratic -- who have always helped prop up her government they came out publicly and said

irregardless of her decision and her offer, they would not be back in the deal it seems like it could still be dead in the water. we could find out tonight if they will see that third vote on her deal tomorrow, and in the meanwhile, the alternatives to her deal, a whole gambit, 50 shades of grey, as it were, the eight different options put in front of lawmakers last night, none of those attracted a clear majority two of them came very close. one of them involves permanent membership of the customs union. something the labour party has been pushing for, and the other is essentially put one other deal that was agreed upon to a second public vote we'll find out next week, probably on monday, whether lawmakers can witle those opgs down to eight to maybe three or four and then intentionally try to find some kind of consensus, brian. >> you know, we talked a lot about this irish border issue. when it comes down to parliament, without getting too much into the british parliament political weeds, how much are the northern irish representatives really controlling this process

>> there's ten of them the dup. without their support, theresa may does not have a governing majority, and that's gin them a huge amount of leverage over this process they've said for months now they're not happy with the terms of her deal around this backstop, and, yet, although many of the conservative lawmakers shared that view, some of those have come around, but the dup has stayed very entrenched in their position, and without their support and without maybe some labour opposition lawmakers coming around through to may, which looks increasingly unlikely as well, there's no way she has the numbers, brian >> willem marks, live in london. thank you very much. now let's get the reaction to this as well as what is happening in bonds and what you should be doing around really this cornucopia of headlines, bill stone, chief investment officer of avalon investments. it's almost hard to know where to start, bill, given all this first off, let's talk about china and brexit how much do those, if if at all, play into the investment

decisions that you are making at avalon >> well, i think in terms of china, the trade talks are a big deal i think you're not seeing kwoit as much of a reaction to them because it's early, but i also think that we've had a few of these, you know, announcements that things were going really well and then as you kind of noted at the start, we haven't actually gotten a deal done, so i'm not sure how much of a rally we'll get on at least the rumors coming out that it's going well. i think once a deal is done, that is definitely a positive. it removes another one of those risks out there. i guess we'll see assuming it gets done, but maybe it's part of what we're thinking in avalon, which is that they do eventually get to the deal i think all sides want to get there, so the underlying, i think, is positive if it didn't go, i think we would be a little bit more worried about the global economy and perhaps the u.s. economy as well >> do you change your investment advice to clients because of what is happening at brexit, or is it just an event we have to watch, but won't impact how you

actually select investments right now? >> yeah. we'll -- we have been, you know, watching the brexit situation very closely i think, you know, we still think -- i think where do they end up in the long-term. i don't know -- the report was great, because you really have no idea how they're going to get there, but i think most all roads, we think, still lead to some sort of a deal there. a soft brexit instead of a hard, or, frankly, no brexit at all. if they brexit, then, you know, there's a little bit more worries that there's some big impact, but that being said, it's not generally we looked at how much it impacts u.s. earnings or, you know, the u.k. exposure to u.s. earnings. it's not a lot, obviously. it's certainly a much bigger issue for the euro zone. i just think you might get some bigger shakes out of it, but, again, i think the end result is that they get to either a soft brexit or frankly, may not brexit at all because some of the things that if this doesn't pass through are another referendum or an election, which

kind of, you know, may be hitting the reset button >> we have an early morning tweet from a man who sleeps less than we do, and that is, of course, jim cramer he was out tweeting a few minutes ago. "so i see, now every time bonds tick up a hair, stock futures have to do the same on the downside so pedestrian. do you believe, bill, that the yield curve inversion and the focus on bonds has been in some ways overhyped >> i do. i mean, i am a believer. i've watched the yield curve i do think it's something you should watch, but i think you have to keep in mind what's going on right now, which is look at what's going on in the world with negative ten-year yields in germany. you know, i think we're down about negative seven basis points negative ten-year yields in japan and down ten basis points. that matters from where the u.s. ten-year is, which we don't generally have those kind of situations where when you look at the yield curve in the past, and we actually did some work on yield curve inversions, and

they're less effective in terms of being tools to forecast recession when you are at ultra low interest rates i think that's particularly true here in the u.s. because i think you're having a lot of demand come over for u.s. ten-years as an indicator, and if anything, it's negative yeeltds e yields, and really what would be the major high quality government bond markets other than the u.s. >> that's a really important point ewe making in your work that you have done, i want you to clarify that, it's not just if a yield curve inverts, it's where thebond yield is initially anyway, so going back in history and saying, you you know, the past seven recessions were preceded by an inverted yield curve, they didn't have bond yields this low, and you believe that makes a difference. >> yeah, exactly what we really did is looked at -- i'll till, in particular in japan, and because if the yield curve inversion works in the u.s., it should in other

countries too. i think you look for other confirming indicators, and right now there aren't any in my view that the u.s. is near any sort of recession i don't lose a lot of sleep on that one >> bill stone, a pleasure. thank you very much. >> thank you >> well, your top corporate stories this morning, lyft is upping its ipo price the company now expects to list between $70 and $72 per share. that ipo will price tonight, and it's expected to begin trading tomorrow on the nasdaq under the ticker lyft. we have an analyst that's made one of the first calls on that stock, and he is here with what he thinks. lyft may not be worth your hard-earned money. that's not the only big stock story today. let's get a check on the other top headlines.

frank holland now joins us with that >> hey, brian, here's some of the big stocks on the move we'll starting with the double dose lululemon. the same-store sales rose by 16%. on-line sales in china were especially strong. up more than 140%. the company is also projecting profit this year will come in above analyst estimates. share of peh also soaring today. the clothing maker reporting better than fourth quarter earnings and also revenue. there's higher demand for its tommy hilifiger brand. the company must pay $08 million to a california man whoo claims roundup weed killer caused his cancer bayer was bought from monday sani - monsanto >> thank you very much take a closer look at bayer ag

that stock is down 48% over the past two years the company now once one of the biggest in germany, has a market cap of just $51 billion. it has lost more than $40 billion in market cap since it bought monsanto. if the stock continues to fall a little bit more, bayer will have nearly wiped out the entire value of that $65 billion monsanto deal. wruft greatest losses in the market cap or really global stock market history we are just getting started on a busy thursday up next, boeing's big fix. the company unveiling plans for 737 max airplanes. then a big win one lucky person waking up $768 million richer we'll tell y wreheouhe wn worldwide exchange returns you should be mad at forced camaraderie. and you should be mad at tech that makes things worse.

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hey now! [ ding ] you can even troubleshoot, learn new voice commands and much more. clean my daughter's room. [ ding ] oh, it won't do that. welp, someone should. just say "teach me more" into your voice remote and see how you can have an even better x1 experience. simple. easy. awesome. we deny to track the latest on boeing and its fight over the 737 max airplane the company unveiling major fixes for that grounded aircraft they are primarily software-related boeing, though, also enhancing pilot training for the 737 max now, in the meantime, a senate panel yesterday demanding answers on how boeing plans to get approved the faa admitting it delegates and outsources some of the certification work to manufacturers themselves the agency adding that it would take an additional 10,000 faa

workers at a cost of nearly $2 billion to assume full responsibility for aircraft certification. boeing shares this morning up marginally they are still down with 14% over the past month. well, new this morning, the world's biggest oil company is tapping credit markets for the first time ever. the "wall street journal" says that saudi aram doctor o plans to issue a $30 million bond to fund its $69 million investment in saudi korpgs better known to you and i as sabat that deal is big, and it has been in the works for a long time remember, in an exclusive interview back in september we asked saudi aramco ceo how a deal this size could affect their plans to go public here's what he told us >> the sabic deal will definitely have an impact on the timing of the ipo.

immediately we are doing the due diligence currently, and you cannot guess -- >> now, it is still worth noting there is no word yet on the exact timing of that aramco spgs ipo krsh it's something the world has been waiting for for more than a year well, speaking with news out of saudi arabia and one that is about to get a lot of attention today, no doubt, the trump administration reportedly approving a secret nuclear power deal with the saudis now, hadley gamble has more on this big story hadley >> hey, good morning, brian. this is a story, as you say, that if through, could have potentially explosive consequences, not just for the trump administration, of course, but also for their relationship with riyadh. now, what we know so far, according to a report out of reuters, is that they have seen documents that u.s. secretary of energy rick perry has secretly approved thorss by six companies to sell assistance to saudi

arabia this is without congressional approval we've heard again and again from both sides of the aisle concerns raised about the potential for saudi arabia to move towards nuclear energy, but really to move towards potentially a nuclear weapon all of this comes back to the idea that we heard touted by saudi arabia's mohammed bin salamon, the crowned prince there, just a yoer ago when they said if they felt iran was moving towards a nuclear weapon, that saudi arabia should be able to develop one too that, of course, all goes back to a bigger conversation about plans for nuclear energy saudi arabia, essentially what they want to do is spend upwards of $80 billion to develop several nuclear reactors in the company. it's whether or not they'll use the u.s. technology to get that done and whether they sign a deal saying they're not going to use this for energy and not a nuclear weapon from the u.s. side, there are so many concerns about nuclear proliferation in the region. a lot of attention you can

expect on this story in the coming days. >> in fact, the gao, the general accounting office of the u.s. government, has really said they're starting to investigate a little bit whether or not the proper legal steps in the trump administration were followed in order to get this deal done. this is a deal that is going to be scrutinized here. what's the commentary there? >> well, it's interesting because i had a chance to check up with the deputy secretary of energy from the united states. i asked him just that. are you going to allow saudi arabia to bypass one, two, three. remember they have an agreement with the united states whereby they are doing just clear energy and not moving towards a nuclear weapon, and he told me absolutely not it's very interesting that you are hearing mixed messages now where rick perry has done this secretly, and that's certainly going to raise a lot of eyebrows on capitol hill. brian. >> all right, hadley gamble, thank you very much. well, here's a story that is

certainly more ow than wow if you bought tickets on iceland's budget airlines wow air, you're not going anywhere it suddenly collapsed overnight and has gone out of business this after talks to raise new fans have fare stranding passengers on both sides of the atlantic. we're going to continue to follow this story and bring you more as we get it. still ahead, mr. -- the goggle ceo holding a surprise sitdown with president trump we'll tell you what the pair discussed. later, it is lights out for teens who want to light up in the evergreen state. more on this major shift when worldwide exchange returns

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president trump sitting down with google ceo sundar pichai. the president tweeting that google "is totally committed to the u.s. military, not the chinese military." trump added the two discussed political fairness and the meeting ended "very well." now, google also releasing a statement saying, in part, it was pleased with the productive conversations around investing in america's work force. former fbi director james comey sounding off for the first time since the mueller investigation wrapped up the d.c. tracie potts live in d.c. with more

>> there was an interesting interview with lester holt comey, the man who started the russia investigation, now saying he is confused about how it ended. >> fired fbi director james comey in an exclusive interview with nbc's lester holt on the russia investigation he started. comey says it's good for the country that president trump was cleared of collusion, but attorney general william barr's summary left questions that only the full report can answer i think both director mueller and attorney general barr are entitled to the benefit of the doubt. they both have sterling representations. a lot of what is said in that letter doesn't make sense to me. it's not clear when or if congress can get a full report the attorney general says a review to take out classified

information could take weeks >> we seem to be trying to keep sections of that under wraps, and that's just not going to fly. >> we should be consistent at letting the special counsel actually finish his work >> president trump continues to criticize the investigation. >> it was treason. >> we can hear more about this when he rallies in michigan tonight. >> now, big question when will we hear from the man behind the scenes, robert mueller. we're hearing from three lawmakers that several key committees are submitting a subpoena to go behind his boss and get him here to testify. >> tracie, thank you very much >> there may finally be a big breakthrough in u.s.-china trade talks. the word's most important economic story right now plus, lyft lifting its ipo price. one analyst says it still may not be worth your hard-earned money. he is here coming up bs. now you can, with shipsticks.com! no more lugging your clubs through the airport or risk

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>> reports of a major breakthrough between the united states and china as high level talks are underway in beijing. stocks not reacting much lyft upping its ipo price. demand is strong, but coming up, you'll hear from one wall street analyst who says don't expect many more gains. and holy jackpot, don't you know one lucky person waking up hundreds of millions richer this morning. we're going to tell you where the sole winner of the posterior ball came from as worldwide

exchange rolls on right now. ♪ welcome back thanks for being with us here on cnbc i'm brian sullivan let's kick off the second half of the show. as always with your executive recap. frank holland is back with that. frank. >> here's what's leading cnbc.com right now high level trade talks between the u.s. and china get underway today in beijing we have new reports this morning that china is willing to make some unprecedented moves on sensitive topics like force technology transfers we'll have much more on this coming up in a live report from beijing. so now to brexit complete chaos in the british parliament eight different brexit proposals failed to win a majority of votes last night u.k. prime minister theresa may says she was prepared to resign if parliament could pass her deal the u.k. was scheduled to leave the european union tomorrow. that deadline has been extended

until next month boeing unveiling some major fixes for its grounded 737 max planes the changes are primarily software related boeing is also enhancing pilot training for the 737 max boeing says the changes will improve the safety of that aircraft this morning boeing shares, well, they're actually up just about a quarter of a percent brian, back to you >> thank you very much in the meantime, let's get a check on the morning's other top headlines outside of the world of money and business. nbc's phillip mena has those good to see you again. >> good to see you too, brian. good morning education secretary betsy devos is under fire this morning for proposing deep budget cuts that would reshape her department the idea drawing the most outrage cutting off funding for the special olympics under the trump administration's plan, the special olympics would lose nearly $18 million in federal funding, but the lawmakers who ultimately decide on funding say those cuts won't happen zblierngts a wisconsin man has pleaded guilty to kidnapping a 13-year-old jaime klaas and

holding her prisoner for 88 days after breaking into her home and killing her parents. jake patterson proceeded guilty to two counts of intentional homicide, and one count of kidnapping he is set to be sentenceed in may, and he faces life in prison. the 21-year-old was already convicted in state court in december for killing anti-racism activist heather hayer at the unite the right rally in august of 2017. sentencing in that case is also scheduled for july brian, back to you. >> phillip mena, thank you now let's get back to your morning money, and stock futures are starting slowly to react to some of the optimistic reports around the trade talks with china. dow futures right now up just under 50 points with one more trading day left in the quarter. the dow is up nearly 10%

if we gain just .15%, today or tomorrow, that will make an even 10% for the year the nasdaq doing even better that index up 15% in 2019. of course, the big story real this year in particular the last couple of weeks has been the bond market. the bond bulls, well, they continue to celebrate while the bears continue to hybernate. buyers have been active. the benchmark ten-year treasury note is 2.38% this morning well, meantime, the most hotly anticipated new stock of the year is about to begin trading it got a little hotter overnight. lyft is upping its ipo price it now expects to list between 70 and 72 a share. lyft formerally priced this evening. webbush has a $80 price target joining us now is the man who hated made that call, dan ooifz at web bush securities dan, why not more bullish on

lyft >> well, we're clearly positive on ride sharing and this trillion dollar market opportunity, but ultimately, for us it comes down to profitability. when you look at competing at uber and others, i think that's really what keeps us on the sidelines to getting more bullish and pounding the table on prices tonight. what is the main reason you believe the stock won't gain that much above 72 a share >> i think first off, it really comes down to can they not just from a profitability, but what market share looks like versus uber they've done a phenomenal job, especially the last year and a half, but i think a lot of that was because of uber's issues wrrks especially on the p.r. percent pengt. they gained riders and drivers,

but it's coming down to can they be more profitable from an incentive perspective with drivers? where is the growth look like and what that path to profitability is there's massive pent-up demand transformation of markets. from a valuation perspective, it's hard for us, you know, above $80 to really pound the table here until we see that and go out the next few years. >> yeah. you believe there's going to be a racing -- a price race to the bottom, if you will, with uber i mean, are the two just going to continue to punch each other in the face, damaging profitability for both >> i think that's really the issue. this is sort of a heavy-weight battle between the two you know, and now as it's gone public, you know, the issue is not going to be top line growth. if you look, you call it 70% growth, and even when you look out, this really has a lot of fuel in the tank there's going to be a lot of fighting for drivers as well as

price competition. even though they're just domestic in terms of lynt and the business model expands to scooters and others, that's really the worry for us. i don't see it as hard to get bullish given that perspective >> dan ives, web bush, and neutral rating, and $80 target, dan. we appreciate your time this morning. thank you very much. well, it is not all about lyft in the stock market today lululemon getting a lift from investors overnight. earnings beat forecasts. same-store sales rose 16%. on-line sales in china jumping the company projecting profit this year will come in above estimates. that stock soaring up 13% shares of pvh also rocketing higher this morning. the clothing maker reporting better than expected fourth quarter earnings and revenue

pvh upping its guidance on higher demand for tommy hilifiger. we continue to keep an eye on shares of bayer. a federal jury says the company must pay $80 million in damages to a california man who claims that their roundup weed killer caused his cancer. bayer, which bought the roundup maker monsanto last year for $66 billion, says it will appeal by the way, since that deal bayer has lost nearly half its market value in just the past two years. well, new this morning, the world's biggest oil company is capping the credit markets for the first time ever. the wall street jushl says that saudi aramco is issuing a $30 billion bond to help fund its planned $69 billion buy-out of saudi based industry corporations, known better known as sabic, the world's most profitable chemical company. a big win in the badger state. if you are just waking up in wisconsin, take out your powerball ticket,check the numbers because you might be a

multi, multi, multi-millionaire this morning we'll tell you what town the big winner came from later on, the good, the bad, and even the ugly when it comes to your money. tim seymour joining us with a look around the world and what he sees happening right now.

sometimes a cough gets in the way of a good night's sleep. that's when he needs vicks vaporub. proven cough medicine. with 8 hours of vapors, so he can sleep. vicks vaporub. goodnight coughs. he zbloofrmt welcome back. fiend out what else you are going to be talking about today with frank holland and your top trending stories frank. >> you know what i'm talking

about why i'm not lucky because i really wanted to win this powerball. >> we're here together >> waking up $768 million richer l last night's powerball drawing had a single winning ticket. it was sold in wisconsin lump sum pay-out $477 million. we're not that lucky >> they got to drive a little bit south, go to mars cheese castle and stock up and distribute it all through their town that would buy a lot of cheese curds. >> that's not what i would do on the first day of my winnings he is seeking $60,000. so far no bids the auction ends tomorrow at noon >> no bids here. bitcoin not as hot as it was last year. >> well, clearly that business not hot. >> not in this one washington state, it's on the brink of raising its smoking and vaping age from to 21 from 18.

it passed the statehouse yesterday. washington will join california, hawaii, new jersey, oregon, maine, massachusetts, d.c., and virginia as well as multiple localities in raising the to be ka age to 21 years old >> probably good thing for parents, i guess, but maybe a negative thing for taxes >> vaping and young kids, i think there was some numbers out that millions of kids in december alone had started vaping a bad trend there. on the flip side, many people say that vaping helps them quit smoking cigarettes up next, your money goes global with two huge stories major developments in u.s.-china trade talks and major chaos in london the latest on both later, a blast from the past the one stock that is topping the competition. here's a hint. it is not a fang stock we're going to bring you that red hot name you won't believe it when rlidexan rurwodwe chgeetns

two major developments and the two biggest stories if the world right now. stock futures up a little bit, 42 poirngnts, as china ramps up trade talks with the united states on the other side of the world and maybe the other side of the coin, absolute mayhem. british parliament overnight lawmakers striking down not one, not two, but eight different brexit plans your team of reporters are fanned out across the globe to break down both these stories. let us bring in, though, in london where theresa may facing a continued uphill fight in partlility willem marks live in london with more on the brexit fight willem >> brian, yes, twice theresa may has seen her deal defeated inside the british parliament. if she wants to get it through a third time lucky, she needs as many as 75 lawmakers to switch sides. we've seen maybe a dozen over the last 24 hours come out public and say they will announce her deal having opposed

it, but that's not nearly enough even though she's offered her resignation on this issue. we also saw last night that was so interesting is the parliament essentially comes to no you conclusion about what it would do they said now they capital come up with an alternative two options that did almost attract a majority, one is a softer version of brexit, and one is putting the issue back to the public here in the u.k. for a confirmation vote so the public can once again decide whether they like the deal that they're in or they would prefer to stay inside the european union. a huge amount of fluidity right now in westminster, but we could see that third vote happen as soon as tomorrow, brian. >> willem, is it the problem that theresa may continues to bring effectively the same deal up for vote again and again? >> that is going to be a real obstacle i apologize in advance before we

get into the weeds here. the speaker of the house of commons said there was a 400-year precedent which allowed him to stop them trying to get the same kbrd voted on again and again. unless the government can prove to speaker of the house of commons that what they're going to vote on next time around is "substantially different" to what they voted on last time around, he may disallow the vote altogether, and that would make life even more complicated also that ruling is the same as the indicative vote yesterday where the parliament had a choice to look at a menu of options. the really significant point, though, is that even if members of theresa may's party come around to her way of thinking and try and support her deal, this small northern irish party, the dup, they made is it very clear last night they're not prepared to support her vote take a listen to their comments. okay we don't have that there that was the leader of the dup

coming if late last night in which she said the irish backstop, this thorny issue that's been a problem for many, many months, that is still standing in the way of them having a deal, and without the dup, that small northern irish government, there's no simple way for her to get a majority. what happened last night that is concrete is the law change so that brexit is no longer march 29th tomorrow. it could now be april 12th it could be may 22nd we could see an alternative approach being pitched to the europeans.

whether they'll approve it, agree with it, extend for many, many months to give more time for that alternative remains to be seen. >> willem marks, thank you very much >> now let's get more on the late-breaking trade headlines. eunice live for you in beijing eunice >> thanks, brooin. well, u.s. officials are apparently hoping and very hopeful for a breakthrough on one of the stickier, thornier issues, forced technology transfers. administration officials told reuters that they think that the chinese have put proposals on the table that have gone further than ever before the u.s. heavy hitter traders are here in beijing. trade representative robert lighthizer and steven mnuchin have been -- are -- have arrive and are expected to meet with the chinese vice premier they are continuing to negotiate all day on friday. the ministry also said that since the last round much

progress has been made over the phone, but a lot more needs to be done. sources familiar with the talks have told me that that includes working on thelanguage of the agreement. there's still several undefined terms. also, to find a way to make the deal enforceable, and, finally, to clarify how and bh tariffs will be imposed. u.s. officials had told reuters as well that they believe that the tariffs have to be included in this agreement, so that they continue to have leverage over the chinese. however, it's still unclear whether or not the chinese would agree to that, brian, or if they would be okay with the other idea the u.s. has had that the chinese wouldn't be able to retaliate.

zplierjts the headlines just aren't going to move the market. >> bottom line, the markets either way may be hampered even if you get a trade deal. too little too late. that's what global bond yields are telling me that's what central bankers are telling me around the world. i think we have to wait. i think the reality is that we're going to get some kind of a deal the trade transfer technology issue to me seems almost

impossible to solhere. >> we can look at bond yields and say, wow, this is a clear sign that global economies are slowing down, but, yet, if we look at the core commodities in the world of which there are copper and oil, those are not saying imminent disaster >> look at dollar yen and where high yield is. these are not telling you the growth story is falling apart, and core commodities are telling you that actually if you look at resource trades, they've been some of the better trades. i think the reality is that we have a dynamic where people are very concerned about the next phase of the trade talks and really where the u.s. economy is we have an ism number out on monday very important she showed exports to europe up

15% the best since 1987. if we remove this trade dynamic, where were we a year ago before saying that the global economy was in great recovery? it's clearly not there right now. >> it gets a little bit of attention, but it's not the focus. the peter brady of the market. >> i thought that was marcia, marcia, marcia >> here's the thing, why is ism suddenly become so important for markets? >> it's another data point at a time when people are very concerned about inversion in the yield curve in the u.s when is the recession coming?

everything that we're seeing tells you you're going to get that type of a response here it may not be emphatic, but right now if you look at the u.s. economy, if you look at where payrolls are, if you look at where jobs are, you know, confidence is the biggest issue right now and i think getting something done will be a good response >> what would be the most bullish case you can make for the global stock markets right now? >> i think we need to just see second quarter earnings or guidance from the first quarter, sishd i should say, into the second quarter, start to tell that companies are back to business again remember, business spending cap x reinvestment was some of the things that effectively seized up as a function of the trade dynamic. we need to see emerging markets stabilize. you have had a couple trouble spots around the world over the last couple of days. we are talking about brazil and turkey that's not grate the reality is if you look at the moves that we've seen in emerging markets in

semiconductors, they were actually telling you up until four days ago that actually the world is getting to be a slightly better place relative to itself, and i think that's what we continue to watch. >> good analysis and a good motley crew reference. >> home sweet home tim seymour, see you soon. thank you. >> time for your morning rbi think of all the global growth concerns we just talked about. the s&p 500 up 12% thisser yoo, and all 11 groups inside the s&p 500 are higher as well. it is xerox. you haven't been paying attention, xrx is up 60% this year do you copy that goes to show it is not always the young guns that come out on

top in the stock market showdowns. that is random, but hopefully interesting, and that is it for us on worldwide exchange see you torrmoow "squawk box" picks up your coverage next. move to the enterprise-grade cloud that's built to handle all your apps. ♪ ♪ the ibm cloud. the cloud for smarter business. the ibm cloud. with tough food, your dentures may slip and fall. fixodent ultra-max hold gives you the strongest hold ever to lock your dentures. so now you can eat tough food without worry. fixodent and forget it.

trade talks yurntd way in beijing, and a new report says that china has made some unprecedented proposals moving closer to a deal we'll get a live report from beijing. lyft raising its expected range in one of the most anticipated public offerings of the year and a budget airline collapsing overnight as efforts to raise new funding have failed thursday, march 28, 2019 "squawk box" begins right now.

zbrierngts good morning. welcome to "squawk box" here on cnbc live from the nasdaq market site in times square i'm kayla with joe kernan and -- becky and andrew are on assignment it's great to be here today. thank you for having me. >> wow, kayla, i mean, is there something brewing down there i mean, are you here to report on something that happens today and we needed you in studio? >> maybe there's less happening in d.c. so i'm allowed to be here >> look at this guy. grasso >> something is happening. >> steve grasso is our guest host for the next two hours. you know limb as direction of snuksal sales at -- that seat is very warm for you. >>