a little bit shorter than i expected, but it's still enough to find the best possible

solution please dwient. >> the breaks its delay proves a tail wind for travel stocks that outperformed a broader fall in european exquits as global growth fears persist >> lvnh shares hit a peak after shares beat expectations pushing the luxury sector higher. warm welcome to "street signs. the iae's latest market report has flagged a slow start to the year on global dough manned amid a continued fall in supply with opec plus output

puts continue and sanctions take hold in venezuela. the group left the 2019 demand growth estimate unchanged, and at 1.4 million barrels her day and said first quarter oecb demand fell on the back of europe that the u.s. should lead a recovery now, crude has trader five-month highs this week, and currently i'll take you to the fresh price chart here currently trading around $64 that's down 77 basis points for brent. carolyn, i think you have more over at the desk >> absolutely. snoo i just wonder how much uncertainty is really attached to that given that we've seen the latest downgrade of the imf global growth and we're seeing very patchy signs when it comes to the u.s. economy, and you said in your report that the u.s. is going to lead the

recovery who it comes to the oil markets. >> what we've said in our report, overall theme was mixed signals. what we meant by that is that we have knowledge that towards the end of last year and the very early part of this year there has been some weakness in demand in the oecd as a whole. for the time being while we acknowledge that, yes, there are concerns and that the imf had a gdp downgrade. for the time being we retain a view that the main drooichgs factors in china and india and the united states, which, of course, has a booming petrol chemical industry, those driving factors remain very powerful >> they're powerful at this point in time, but what could be

the biggest changer here what could be the biggest factor when it comes to actually moving the dowel when it comes to demand would it be the end of the trade war between the u.s. and china what happens if we do see a trade war between the e.u. and the u.s. >> if there were to be trade wars, then that would have a southeast impact of course, we would. at that point when those facts change, of course, so would our forecast for the time being, as i said, we retain a relatively optimistic about the underlying fibers of global douemand which are china and india and the u.s. people forget in 2018, the united states was the fastest growing country in terms of oil demand because part of we have the petrol chemical industry those are still there. >> let's shift gears to the supply side of the equation.

in this report you note that opec plus has been very effective in terms of compliance with their 1.2 million barrel a day supply cuts driven in large part by saudi arabia's outperformance russia continues to adjust more gradually. how kmid -- is russia to the supply cuts at this point in time >> well, russia is one of the countries which has been preventing the cuts. petrol our understanding is that russia remains committed to the process, and we'll have to wait and see what happens at the next meeting of the opec plus countries. i think it was an intromeeting in may, and, of course, a full ministerial conference in june for the time being russia is cou cutting its production, although gradually. the main point is that for the markets if you look at the opec plus countries as a whole, they are cutting production very aggressively, and we have seen that those production cuts in

combination with the effectiveness of sanctions against iran and venezuela is having a very important impact on global supply they lifted the lid on the company and on saudi's oil resources really for the first time quite an unprecedented insight into the saudi energy sector what was most insightful about what we learned from this bond prospectus >> in terms of the oil industry itself, the figures that they released and which we republished in our report about the reserves are not dramatically different from what we already knew. obviously, there's been some interesting data with relation to the production capacity at some of the very big saudi fields, but we're still talking very big numbers here, and the production is likely to continue at a very high level for many

years to come, and, of course, production rates into the future and the huge saudi fields, they can change depending on how much investment there is in drilling. i think we're all very interested to see the numbers released by saudi arabia it's helped everybody. yorng weave learned an enormous rate. >> lack of visibility on the part of the biggest producers and players and also consumers, customers when it comes to forecasting what the oil price will actually do >> in a world where we saw brent at $86 a barrel in october and

$50 in december, and now back to over $70, i think it's a very brave person that attempts to forecast what the price will be at the end of the year as far as the ai is concerned, we make the point in our report that prices rising rapidly are bad news for consumers we've seen that in the past, and we warn against is that. on the other hand, prices that gyrate all over the place from $86 to $50 to $70, and it's not clear where they'll go the rest of the year, that is bad also for investment people need certainty. people need some degree of stability to help make future plans. this kind of volatility we've seen in the last few months is not helpful in that respect. >> pleasure speaking with you. thank you so much for your time this morning neil atkinson, head of the oil industry and markets division at the iea. how are -- >> well, carolina, it is shaping up to be a relatively negative start to trade here in europe, as markets take a leg from the

asian session where asian stocks closed lower yesterday it was all about central banks. we had the ecb meeting yesterday where mahero draghi reiterate the his dovish stance. we had the fed meeting minutes that really left investors in the same place around whether the next step is higher or lower for the fed. what's clear is that the majority of fed members think that rates should remain unchanged for the remainder of the year the big ethtoday here in europe is no doubt brexit last night we had the european council meeting yield an agreement between europe and theresa may to extend the brexit deadline from this friday, april 12th, to october 31st. ftse 100 trading down about 45

basis points this morning, but not quite the worst of the bunch. over in italy the ftse mib is the laying adviser down 71 basis points mixed picture between french and german stocks this morning let's take a look at the sectors. one sector in particular today worth mentioning luxury stocks. they're trading higher led by lvmh who delivered a very strong q1 update. pulling up the rest of the sector more broadly, though, travel and leisure, the best performer of the day by a wide margin up 90 basis points no doubt getting some support from that brexit agreement carolyn. >> and sticking with brexit, as you said, juliana, e.u. leaders have granded the u.k. a six-month flexible extension to europe extended brexit until october 31st however, the u.k. must take part in european elections in may or else leave on june 1 st. the e.u. will take stock of progress at its regular summit on june 3rd. if the house of commons passes theresa may's withdrawal agreement at any point, the u.k.

will depart the block on the first day of the following month. let's see how sterling has reacted to all of this to be honest, not a huge deal of reaction this was sort of priced in sterling-dollar currently changing hands at 130.89 again, unchanged on the day. euro sterling sitting at 86.18 now, u.k. prime minister theresa may welcomed the extension and expressed her regret that the process had taken so long. >> the u.k. should have left the e.u. by now, and i sincerely regret the fact that i have not yet been able to per vad parliament to approve a deal which would allow the u.k. to leave in a smooth and orderly way. the choices we now face are stark, and the timetable is clear.

>> if indeed that compromise, if that greemtd in the house of commons happens before the 31st of october, then the u.k. is going to be able to leave the e.u. before that end date. as you mentioned before, there were different deadlines for this extension for instance, the president of the european council, donald tusk, had initially suggested that the extension should be of about one year, and the compromise was of about six months >> he said that the six-month extension was the best possible outcome. let's take a listen. >> we did the best possible compromise first because it was the one to

preserve unity of the 27 we had the best request from the u.k. to get more time to deliver the deal on the basis of the withdrawal agreement negotiated a few months ago. third, because we preserve the well-functioning of the european union. >> so this is the second delay to the brexit process, to the u.k.'s departure from the e.u. the question is will this be the final delay? i asked that question to the prime minister of the netherlands here last night, and mark told me that it will be more difficult for the 27 european leaders to agree on further extensions, but he did say in that context that if indeed we reach october the 31st and there's no agreement in the house of commons, then the most likely scenario is a no deal brexit >> by the end of october we

have, again, had six months to implement. by then it is very difficult to envision which -- would come up with if it would not have succeeded by then to be implemented what to do most likely at that moment you will have either noted or accepted with the agreement or a withdrawal of article 50 order. >> let's see if this six-month extension is going to be enough for u.k. lawmakers to find a common position. the 27 european countries will take stock of the process of the u.k.'s departure from the e.u. in june, and on that note i'll hand it back to you in the studio >> sylvia, excellent i hope you can get a little bit of rest after surely was a long night for you in brussels. let's get back to the desk we are now joined by henry neuman, director of open europe. as we just heard from emmanuel

macron, there's no sure thing that this is going to yield any kind of agreement. we have six more months, but essentially the divisions remain that have led to this impasse so far. what can you really expect from this six-month extension >> i'm not twkly optimistic. in some respects it's the worst of both worlds it's neither a short extension, which would put pressure on mps to make their mind up and come to a decision. nor was it really long enough to allow for fundamental change in british certification. it's the wrong length for anything you don't think a second referendum is the way to go. explain. >> i think to this point the country is divided the country was divided, and another referendum will show that the country was still divided. i don't think it really points to a path through. you might get a slightly different result then you are on the course for a

totally different relationship the mps are -- perhaps after a second referendum or leave with the negotiated agreement, and that's the current deal. everything else is just a distraction. we're hearing discussions about softer brexit or common markets 2.0, a customs union all of those possible with the current deal what we're seeing with mps refusing to shift a bit and accept those are the real choices. >> the last three years they've been deeply humiliating for theresa may, and i feel like this is the peak because she has no say, and she'll -- she's on her way out. what's the fate now for theresa may after this new embarrassment? >> it's another humiliation. i think the problem that she's got is that it's the -- it all comes back to that general election become in 2017 where she lost her majority. ever since then she's been in a stalemate, this limbo where she kwant move in any direction, and parliament doesn't allow her to do that. i don't think this extension

will necessarily force any clarity. it will just continue stumbling on yes, this was a difficult council for theresa may, and she wasn't in the room when decisions were being made about the u.k., and there was also a lot of disagreement on the e.u. side to have a lot of tough conditions imposed on the u.k. the rest of the e.u. didn't agree with him it's a reminder that britain is, yes, we're in this difficult position we're not the only country in europe to position >> we have to talk about e.u. elections. yfl, theresa may, she would never participate in them. now i guess you will have to, or do you think she'll step down before >> i think she'll stay in position for those elections, and we're going to have to start and we already are starting to prepare for them it's going to cost quite a lot of money and be unpopular, and i expect there thereby a hammering for the two main established parties. i many think tank did a poll that showed that the labour party support pretty much holds up, but the conservatives lose a

lot particularly to a new challenge her party. >> does it even matter if the u.k. exits by the end of october, do these results matter at all >> it does you might have a position where both parties get new elected positions and get infrastructure and to develop more perform a political brand. nobody really wants them, and wants to stay in the e.u. in the first place. >> where are the bulk of the remainors going to go in terms of their support at the parliamentary election >> that's what we were looking at they're still broadly holding to the labour party they are open to moving to some of the new parties that's including change u.k. and also the liberal democrats, the green party, and that will depend on how much labour is able to balance its tight rope

walk that's a challenge for them. >> last night donald tusk, he spoke as well, and he said that he urges that this could be an opportunity for the u.k. to rethink their strategy or to cancel brexit altogether what are the chances of that realistically? >> at the moment there just isn't a majority for that in the house of commons it remains a possibility i think if things just drag on and on and on, and the further we get away from that referendum mandate in 2016, the more likely that a potential reversal of brexit becomes that's totally true. at this point we're still very far from any sort of majority where mps would actually want to vote for a referendum, and it's not really clear this extension actually allows enough time for that >> all right well, thank you very much for those insights henry newman, director of open europe let's take a quick look at those travel stocks. i mentioned earlier the travel measure sector is the best performing sector within the stock 600 this morning, and you

can see there we've got a boosted ryanair easy jet, all likely on the back of the brexit extension. you can see a bit of a boost, at least for part of the stock marketam we'll be back in two. >> it's obvious that the beggest problem for the world economy today is the uncertainty coming from political difficulties which are on the table a business owner always goes beyond what people expect. that's why we built the nation's largest gig-speed network

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inflation and growth forecast that's according to an ecb survey it's the survey of professional forecasters. basically what they're doing is the economists are now only expecting inflation for the euro zone to grow by 1.4% this year 1.5% the next and 1.6% in 2020 that's for real gdp growth versus 1.5% previously, and i guess that's more in line with what the imf put out just recently now, let's get back to the inflation prints germany's inflation rate is back in march due to a slowdown in food price growth. that's according to data from the federal statistical office the annual e.u. harmonized inflation rate fell to 1.4% in line with preliminary estimates. meanwhile, taking out energy and food consumer prices rose 1.1%

compared to the previous year. he added that german economic data will improve at the end of this year. >> the situation in germany is very similar to the global development and this is not that surprising since germany is one of the countries which is very much active from the global market as importer and exporter. with a lot of companies that are active on the global market, on the world market i think it is absolutely clear that if there is a slower growth worldwide, we will see it also in germany , on the other hand, we have a very special situation the labor market is doing well we have the highest employment rates of the highest number of

people employed since -- it's a good situation, and all the forecasts we have show us there will be even more people employed this year and next year this is not a bad situation, and we should not have wrong judgment about this situation. it is just slower growth and the expectation is that this will be -- will change in the end of this year, and beginning of next year, and that we will not just have more people employed, but also better growth >> shifting gears to the corporate world. lvmp credited a bouyant environment for an 11% boost in first quarter revenues beating expectations the luxury goods maker reported 15% organic growth in its fashion and luxury goods unit and said its good growth in all regions. they did not provide details for

china, and it's set to break down its figures on a conference call today let's take a look at how lvmh shares were trading this morning. up more than 3%. as you can see there it's not just lvmh, but those numbers are providing a boost to the broader luxury space carrying christian dior, ridgemont, pandora, and burberry >> french food services group delivered a better than expected rise of the first half revenues as business in north america grew during the second quarter net profits, however, were weighed down by investment costs. the company is backing its guidance and expects to see 2% to 3% growth for the full year india heads to the polls hoping to win a second term in office we'll be live from the state that's when we come back it was here.

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these are your headlines >> the european union grants a flexible extension to britain's

brexit date pushing back the deadline to october 31st, but european council president donald tusk says e sends a warning to u.k. lawmakers. >> this extension is as flexible as i expected, and a little bit shorter than i expected. but it's still enough to find the best possible solution please do not waste this time. >> the brexit delay proves a tail wind for travel stocks, which outperform a broader fall in european equities as global growth fears persist >> lvmh shares hit a record peak after first quarter sales beat expectations pushing the luxury sector higher. >> plus, in an exclusive interview with cnbc u.s. vice president mike pence backs trump's call >> so it's inflation >> so we really do believe that,

you know, what the president is saying is i quantity takive tightening has not been the right approach overall little shaping up to be a negative day for european stocks this is on the back of a weak handover from asia yesterday it was all about central banks with the ecb meeting coming into focus offering a dovish message again. meanwhile, stateside, the fed march meeting minutes came out which showed that rates really could go in either direction as the fed left the door open for either a rate hike or a rate cut as the next move, but for now rates on holduntil the end of 2019 there today the big issue in europe is, of course, brexit. all eyes there after last night yielded an agreement between the e.u. and the u.k. to extend the brexit date to october 31st with a review set in june

across equities in europe, the cac is the only major index in positive territory that right now up about eight basis e basis points otherwise, it is a negative day for european stocks. the euro took a large step lower in the ecb press conference where mario draghi stressed that the ecb would stand ready to use all instruments. later in the day the euro recovered, and now it's four basis points higher just below that 113 mark. sterling in focus. right now trading down about 16 basis points around 130.68 overall very range-bound despite the relative break-through in brexit finally let's take a look at u.s. futures.

according to reuters, the lawyers say in a document that the latest arrest, which is the fourth arrest of the disgraced nissan motor boss has been illegal. it was a violation of the constitution and designed to halt the defense preparations. again, this is according to documents seen by reuters prepared by carlos ghosn's defense lawyers. it goes on to say that ghosn suffers from high cholesterol and a side effect of the treatment also suffering from chronic kidney failure, and that he has not been given his medication again, there are a couple of details in here. he was forced to undress in front of a female investigators when taking a shower he was subjected to multiple body checks, forced to use the toilet with the door open.

obviously, the drama has been escalating after we saw that fourth arrest. i'm sure we'll see plenty more headlines coming from both sides of this. >> the first part of india's seven-phase election cycle has kicked off with 900 million eligible voters. it marks the world's largest ever election. let's get a preview and joins us live what can we expect >> this is a massive election and a long drawn election as you point the oud. seven phase election which culminates on the top 19th of may. the results will be out on the 23rd of may. today is the first phase, and i'm standing at an interesting place. you are seeing a huge crowd of media persons behind me, and they are actually right now speaking to the former president of india's oldest political party, the congress party. sonja gandhi is here filing her nomination for the elections she's accompanied by her son who

is challenging the prime minister as the bm candidate of the congress party they're reduced to their lowest number in the last election, so they are fighting a battle for survival as well this election for prime minister mody is a test for his popularity whether the work he has done in the last five years is whether they are happy with all the moves for the economy, for the farm secretary of stator and for women and children how they really work. this is a test of all those schemes as well. we've seen a lot of regional parties getting together forming a grouping against the prime minister and the bjp the ruling political party in india. it's a test of those ruling -- of those regional groupings as well if you ask me, one of the big issues in this election, it unemployment is a major issue. in a recent report, there was a trend that the unemployment rate in india currently is at 7.4%. it's the highest in 15 months.

another government report which has not been published as yet suggested that the unemployment rate in india is at a 45-year high the bdp is trying to come back with the announcement that they would be transferring 6,000 rupees, three into the account of every pharma in the country that would translate to about 77 euros for every pharma in the country. this is in addition to all the existing government schemes. they're also saying they would spend about 325 billion euroed in the next five years on the pharma sector, on rural india, on vejz in india from the congress party -- they are like to see an income scheme for the pop skplarks they will transfer 925 euros into the account of every poor person in the country.

the congress party is alleging there was major corruption in the deal, and an indian businessman has been benefitted and favored by the ruling regime back to you. scott morrison has called a general election for may 18th. morrison is set to ride coalition trails the opposition after a leadership on both sides of the aisle which have seen seven -- yes, seven prime ministers in the last ten years opposition labour party leader echoed a language in the prime minister's announcement pledging the election would be a fair go. in other news, chinese march consumer inflation jumped a five-month high. that's on the back of rising food prices. that's according to the country's national bureau of statistics it rose 2.3% lower than the 2.4% forecast by economists

producer price inflation rose 0.4% in the month of march that's compared to the previous year and meeting expectations and spurred on by an uptick in mining extraction prices it marks the first acceleration in nine months and comes as the chinese government looks to boost growth in the world's second largest economy treasury secretary steven mnuchin says the u.s. and china have agreed an enforcement mechanism for a trade deal speaking to cnbc, mnuchin said both sides will establish enforcement offices to address issues around any agreement. now, if reached, mnuchin said a deal will be the most significant change to u.s.-china relations in 40 years, but he would not be drawn on whether washington will use tariffs as an enforcement tool. >> i'm not going to comment on the specifics of the tariffs and what would stay in place and what would go away, but i would just say we're really focused on the execution of the documents, and as i said, ambassador

lighthizer and all the teams across the agencies are really working around the clock >> still ahead on this show, the ceos of america's biggest banks facing the heat on capitol hill. details coming up next i wanna keep doing what i love, that's the retirement plan. with my annuity, i know there is a guarantee. it's for my family, its for my self, its for my future. annuities can provide protected income for life. learn more at retire your risk dot org. ♪lean on me, when you're not strong.♪ ♪and i'll be your friend.♪ ♪i'll help you carry on.♪ ♪lean on me.

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>> the ceos of america's top banks testified before the house financial services committee on how the industry has changed since the financial crisis wilford frost has all the details. this one divided along party lines. a great example of that was the topic of whether big banks are a good thing or a bad thing. here is the democratic chair of the entire committee, maxine waters, asking the ceos whether a smaller bank was easier to manage >> mr. dimon, what about you have you eliminated any business lines? >> we every year look at all what we call hobbies and small

businesses and things that cause problems and close them down the answer is yes. >> how many business lines have you eliminated >> i remember correctly, 17. >> has it made management better >> sure. >> thank you what about you, mr. gorman >> yes we have downsized a number of different businesses >> has it made management better >> it certainly makes it organization -- >> thank you, mr. monihan wrrks have you downsized in i business lines and stuck to your core business >> yes, we have. as i said -- >> has it made management easier and better >> it's made it more focused, yes. >> here republican congressman duffy asking jaime dimon whether his bank would lose business overseas if regulation increased significantly. >> if you guys don't bank the big deals that you bank, they don't go to small banks, do they don't they go to the bank of china? doesn't your business go somewhere else, mr. dimon? >> it would go to other banks, larger banks overseas who can do the business >> that means we less influence in the global financial markets,

right? would you say, mr. dimon, we're a leader in global finance >> i think that america is a leader in global finance, and i hope to god we remain that for the foreseeable future >> that political division means we're unlikely to see significant policy come out of today's hearing. separately, the bankers will ask what they see as the biggest threat to the u.s. financial system >> what do you think the biggest risk to our financial system is today? >> our ability to talk ourselves into the next recession. >> the global growth is slowing. u.s. growth is slowing a little bit. global growth is growing, and ultimately that will have impact on ability to serve as credit around the world, and that impacts the financial system >> cyber certainly first i also would say slowing growth

around the world, but in particular the difficulties that lie ahead in the relationship between the u.s. and china >> the big banks here in the u.s. do begin reporting their q1 earnings on friday with jp morgan and wells fargo cnbc business news, wilford frost, washington d.c. >> staying in the u.s., the fed is likely to keep rates on hold for the rest of the year minutes from its latest meeting show the majority of fomc officials agreed that risks to the outlook warranted keeping policy unchanged. they left the door open to the possibility of more rate rises before the end of the year that is if economic conditions improve, and i think juliana, it's pretty clear what the fed wants to do here they've seen that the market has become way too aggressive in pricing and cuts for this year after this big u-turn that we saw in the month of ma every march. then they haven't been aggressive enough and still accounting for the potential for a hike this year i guess it's trying to bring back the market from the extreme positioning that we've seen.

>> in my position as treasury of secretary, i feel obligated to respect the independence of fed monetary policy, and i'm just not going to comment on it one way or another >> i mean, the president has voiced frustration all the time with the current fed chairman. do you feel like you picked the wrong person >> i don't feel like i picked the wrong person, but i respect the president's views and his views of the economy where he has had tremendous insight >> what would you say to people who are now actually worried about the independence of the federal reserve with some of the proposed nominees, steven moore and herman cain, very close political allies to the president? >> i don't think there's any reason whatsoever to be concerned about the independence of the fed it's the president's right and only gaegs to nominate people to the board. these are two people that the president has confidence in, and

they will go through with a normal senate confirmation process. >> there's no evidence of inflation in the economy >> so it's inflation >> so we really do believe that what the president was saying is the quantity takive tightening has not been the right approach. he has spoken out against the policies of the fed over the last two years, like many presidents have before it. this is a president that really does believe that this economy is only starting to grow i mean, you look at nations around the world, nations we compete with every day, and the president does believe the 3% is a starting point in this economy. >> tune in for more of that exclusive interview with vice mike pence at 12:00 p.m. c.e.t let's bring in michael yoshakami, founder and ceo of

destination wealth management, and pick up on that conversation around yesterday's fed meeting minutes. we heard that the majority of the fed wants to keep rates unchanging for the remained her of this year, but beyond that, it seems unclear what the direction of travel is for the fed. do you have any conviction at this point >> well, it's impossible to have conviction beyond a few quarters you just don't know what the data is going to look like what is clear is that the fed is trying to moderate the swings and sentiment that there have been about their statements. some people were incredibly distressed fourth quarter last year with the hawkish comments then maybe a bit more euphoric than they should have been in the first quarter. i think the fed is trying to bring things back towards the middle so people aren't reacting so strongly. the s&p up about 15 mrz. the dow up 12. the nasdaq up 20%.

does this rally have legs? >> yeah. i think it does. i want to -- i want to really -- it's all about time frame, right? you are talking about market up 15%, 20% let's say it another way the market is back to where it was last year. it's still technically in a trading range. while it has been a roaring start this year, it's really just a recovery from what happened at the end of last year i think there are positive things in place that could well be positive for equities snoo michael, hey, this is carolyn. there are also negatives in there for investors because when you talk about earnings season, you got to talk about the fact that we're looking at the first negative quarter in terms of earnings in about three years. obviously we're seeing massive base effects given the tax cuts a year ago do you think that stocks will simply go past this, just look

through this >> well, i think market participants will take that in perspective that you are really comparing year-over-year, and as you mentioned, you're comparing against massive tax cuts to previous years i'm not saying the earnings are strong, but i think they're reasonable do i think the market is going to look past it? it's hard to say i don't think there's any reason to be distressed at this point where we stand with earnings particularly when you look at what's happening with companies in terms of their earning potential on a global basis. the u.s. is one of the strongest economies in the world right now compared to other economies. look at what's happening in united kingdom certainly the challenges that china is having. i think there's every reason to believe the u.s. economy is reasonably strong, and i think investors will reward investments to capitalize on u.s. growth. >> yet at the same time you also say that volatility might be here to stay for the time being. this environment where do you put your money

>> well, first of all, the most boring headline ever is volatility will continue that's an absolute permanent headline where do you put your money? well, i think, first of all, you don't abandon equities i think what you need to do is you need to take profit from equities that are rallied significantly. you certainly want to be careful with the financials. the financials are going to face challenges in terms of headwinds from net interest marge inds and global growth as you just heard in your previous reports the e.o.'s are concerned about, and i think that you don't abandon as always, thank you so much meanwhile, in the sports world rory mcelroy is the

favorite to win this year's masters title in augusta ahead of the first golf major of the year, which begins later today if the northern irishman claims a first green jacket, he will have achieved a career grand slam of titles adam reed joins us with more >> thank you very much the masters is a hugely exciting event. not the most valuable in golf, but a huge prize $11 million on the line. $1.98 million for the winner, and, of course, arguably, more importantly, the famous green jacket won by patrick reed last year you're right to say that rory mcelroy is the favorite for this year's event is he the favorite going into this year's event. who else could be in contention?

dustin johnson as well he is going very well. notched up his 20th pga tour win this year, but he missed the 2017 tournament because he slipped on a flight of stairs on the eve of the tournament, which you believe. now, justin rose, the world number one as well, he is another winner on the pga tour this year as well. who else could go well around augusta? john ron, the big spaniard, he went well there last year, and he is looking to do so again if he did, he would clock up his first major title. one man who does have a major title to his name is justin thomas a former world number one and going particularly well this season as well of course, now, ricky fouler, could this be his year so often the nearly man at major tournaments, he has won the players' championship, and no major title just yet, but could tiger woods finally add to those 14 major titles? none for him since 2008. he did win the tour championship at the end of last year. jordan spieth, he has fallen off

a cliff, but when he comes to augusta, he really comes alive a winner, of course, and no worse than 11th place in five visits there. francisco molanari, a major winner, a ryder cup mero, and he did win the arnold palmer as well lots of people in the field all thinking that they can claim that green jacket on sunday. >> any squeeze for the four million reasons up to two minutes. >> pretty attractive set of four million reasons in my opinion. >> well, let's take a look at u.s. futures and get back to markets. yesterday as we've been discussing, it was all about the fed over in the u.s., which really received little reaction from the markets now we're looking at a mixed start for u.s. markets no huge moves in there, as you can see. single digit moves at the open for the s&p, the dow, and the nasdaq it looks as though investors are in a little bit of wait and see

mode of course, brexit here in europe is the name of the game today. >> william, tune into the imf world bank spring meetings in washington starting later today from 2:00 p.m. cet we'll be speaking to a range of voices the ecm class director, augustine castons of the bmf and the imf david lipton tomorrow we'll be speaking to ubs chairman axle and russian finance minister anton to name just a few that's it for today's show i'm juliana. >> i'm carolyn roth. worldwide exchange is up next. see you tomorrow bye-bye.

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it is 5:00 a.m. here on cnbc, and here's your top five at 5:00 a.m. president trump steadying up his attack on europe what he said about the european union that is sure to get the world's attention today. speaking of the e.u., just reset the clock on brexit, but will the new exit date spook investors even more, or could this really solve the greatest issue facing europe right now? vice president mike pence talking up the economy in an exclusive sitdown with cnbc. why he says the u.s. economy is just beginning to grow how much higher can oil really go we're going to find out. helene mccroft i