>> we will continue to enforce sanctions and -- >> global markets brace for the busiest week of corporate erngz season as european banks and u.s. tech giants prepare to report

sflierchlts shares drop as the dutch supermarket group warns strikes in the u.s. will dent 2019 margins zbrierchlts and shares in sync as germany's market regulator lists a short selling battle in the payments firm. >> you can see that things are beginning to get going in europe a quick recap in yesterday's u.s. session low volume day yesterday, but i want to point out that tech, the tech sector, is now at its highest level ever the nasdaq there it's a wig earnings week ahead in the u.s. this week. we've got 35% of the s&p index reporting. that's about 155 companies names to watch out for include united technologies, coca-cola, microsoft, exxonmobil, but, of course, tech space as well

some of the big names reporting are snap, facebook, and amazon very big week ahead when it comes to u.s. earnings let's talk about europe. you can see this morning the heat map is pretty much mixed. about 60% trading in the red 40% green. overall, though, the stock europe 600 is trading about .2% slightly in the red. this after somewhat muted session in asian markets overnight as well. looking ahead we do get some of the big earnings, particularly the banks. they're very much focused on yurp even banks this week. we have got ubs, credit suisse we also have some of the u.k. banks reporting. rbs and barclays to watch out for as well. let's talk about the individual indexes. we see the breakdown across the different markets. you can see the only one that is trading in the green this morning, the ftse 100. that index is about 20 points higher a quarter of a percentage. the currency is trading below 130. the inverse correlation is at play there

worth bearing in mind that politicians are now back from easter recess, so expecting to hear some more on the political side of the next couple of weeks. keep an eye out for that in european other marks, we have dax trading weaker down .1% cac also weaker. ftse mib down an equal amount. let's talk about sectors thorks. there's within sector in particular we are focused on today. i'm going to talk a little bit more about that in detail. huge bounce in the price of oil. we're at six-month highs, and we're also seeing some reaction in individual stocks tech, i started off by talking about nasdaq reaching an all-time high. some of that strength is translating into tech stocks in europe as well underperforming today, though. the banks down .3%

household goods down .1% the dutch grocer is down about 4% today in trading. let's move on and talk about the number one story that is driving markets. that is oil. now, the move is expected to hit iran's asian customers in search, including china, india, japan, and south korea brent also very close to that $75 a barrel level also about .1% seeing a bit of a move then in the energy complex that is having an impact on oil stocks

let's switch over and look at some of the key stocks in europe that are reacting. as you can see, almost all of the stocks are 2% higher shell in the u.k. is up about 2% france up 1.9% all of them seeing ae lift on back of the movement in oil prices mike pompeo said there will be no exceptions. >> going to zero across the board. we will continue to enforce sanctions and monitor compliance any nation or entity interacting with iran should do its diligence and err on the side of caution. the risks are simply not going to be worth the benefits we have used the highest possible care in our decision to insure market be stability the united states has been in constant discussion with allies and partners to help them transition away from iranian crude to other alternatives.

i think one of the big take-aways is it doesn't that the oil market had been expecting this or at least they had expected some form of a phase-out process as far as these waivers are concerned, and the u.s. seemed adamant that it's going to be a hard date >> i would agree with you. hello to you that's really why we've seen oil prices hit fresh 2019 highs off the back of this very significant announcement in the oil space. as you pointed out before, the u.s. is going to remove all of those iran sanction waivers when they were -- actually, before they were due to expire in may, and that is very significant because, yes, we did know that this decision was coming, but what the market didn't know was that president trump would decide to remove all of those waivers, and that sent a shock wave through an oil market that is already very vulnerable to the supply side headlines.

it adds to greater uncertainty and opens the door for higher prices in the medium term. as you pointed out as well, what we see here is brent tracking below the 75 usd handle. nymex crude near 66 u.s. both have been advancing across the course of the asian session as trade gets underway in europe as well. what we've also seen is this decision by the united states prompting a very strong rebuke not just from iran, but also from its key trading partners. the key customers that import iranian crude, including china, india, and turkey. the turkish government has said that this surs move would harm the iranian people and fuel tensions in an already volatile region, and india has also said today that it is now making arrangements to guarantee its own supply of crude. this is going to have repercussions for some time to come, i think. >> i want to talk about those. obviously, we are heading into the next opec meeting, and what was interesting about the announcement yesterday is that

there was some reports that saudi arabia and the united arab emirates would look to make up for the losses from iran we haven't formally heard the same comments coming from the uae and saudi arabia i mean, the big question is how much of an impact are we actually looking at in terms of numbers, iranian exports, and how much spare capacity is left in the system to begin with? >> okay. great question when you look at the actual numbers here, it is hard togate get clarity on the specifics if you look at the likes of s&p global plats, for example, which follows the amount of crude coming out of iran, it says that in march it was still averaging about 1.7 million barrels per day. that's significantly higher, but the figures do range between -- up to 1.2 all the way up to 1.9. plat says 1.7. when you break it down and look at where that oil is actually going, plat also says that about 628,000 barrels per day are going to china on average that was in march. more than 357,000 barrels per

day are going to india there are its top two customers. what's particularly interesting is that attached to this announcement was those supply assurances from saudi arabia and the uae, and that's very significant for the u.s. president, donald trump, because he can basically have his cake and eat it too he can show that he is attempting to limit the oil price up side, which is very consequential for him domestically particularly as we come into the election he doesn't want to see oil prices much higher than what they already are at the same time the key playing for the foreign policy initiative in this part of the world is to clamp down on iran, which it sees as a regional aggressor. in terms of the overall impact on opec plus, this is also going to be very significant because essentially ending these oil waivers, it gives opec plus more clarity as it comes into these two very key risk events for the market going forward that is the jmmc that will be held in saudi arabia, the joint ministerial monitoring committee. that comes ahead of the june

opec meeting what this also does is perhaps throw some cold water or cause some doubt on whether or not we will see an extension to the opec plus supply agreement up until now the conversation has been, yes, we're going to see that 1.2 million barrel supply agreement rolling over into the second half of the year, but now that there's added uncertainty on the supply side and the potential to see further iranian barrels coming off the market, perhaps these major producers might look and say, well, hang on. we might actually need to hit the gas when it comes to oil output to make up for that lost iranian supply this also casts doubt on the possibility of perhaps a secondary wave of sanctions against venezuela. this is something that the u.s. has also been considering, and rg indeed, if we did see further sanction action on venezuela, it could cripple output further and hence, push prices higher, which is something that the u.s. president does not want to see so absolutely not. indeed, one of the reasons why we are seeing such a big bounce

in oil stock prices today. all right. thank you for breaking it down for us then. that was live from singapore there. let's bring in mark har graves, the head of global strategy it's great to have you with us as well. your take on the oil sector? obviously, we are seeing a big bounce in some of the stocks today. is it a sector that you like do you see a significant upside given some of the macrofundamental that is we've been talking about >> i think clearly in the short-term it's very well supported. think this is a reminder of two things one, mr. trump's abilities to surprise continues secondly, it's that the oil market is quite tight. we've got uncertainty in libya this announcement in iran also just reminds us how tight the market is, and the ability to step in is questionable. i think middle eastern and particularly saudi arabia, there's an expectation actually production levels are already quite high i think there are some questions about their ability to fill the gap in areas such as u.s. shale

that's already bounced back quite sharply as well. you know, i think it's not a surprise in that sense we're seeing a little bit of an increase today >> a bit of politics in there, isn't there? it's tough to make a pure economic decision. one thing that's interesting about the oil stocks in particular is that the generally pay a very high dividend the dividend yield in many restocks is north of 4%, 5%. especially in the u.k. how do you think about that in the context of this environment? is this an environmentwhere on should be looking at stocks that do offer you that steady income stream given that we are simulating a cycle and economic growth is filtering? >> i think -- think of this. there are opportunities with sector that is have a good interest rate in a low risk

environment. those dividends look attractive. the key issue is are they covered by cash flows? that's the big change for the energy sector. if we go back two years ago, there was a lot of script in there. they weren't covering their dividends with cash flow there's been a big transformation of the energy sector over the last two years we've seen a modest improvement in the oil price, but more importantly, they've taken big steps to address their cost issues costs have come down sharply as a result, you've got pretty attractive cash flows coming out of the energy sector i think that provides good september for the sector >> looking ahead to the european earnings season, things are just beginning to kick off. we've got a lot of the european banks this week. how are you thinking about financials here? again, it's very easy to point to the significant amount of headwinds that the industry is facing from legacy finds, low interest rates on supported macroenvironment, et cetera. do you think that it's now go the to a point where the valuation is there, and there could be quite an upside >> i think the real challenge for the financial sector is what

is the catalyst? they're facing many headwinds. the low interest rate environment is really hurts the banks. we've seen obviously with moves from the fed earlier this year that we're talking about now possibly peak rates in the u.s., and in europe they're very much focussing on a very supportive monetary back drop still got negative yields in many bond markets. that's a real headwind the banks are doing what they can. at the end of the day they've only got certain levers they can control internally i think the results will be fine, but they will be a reminder of how difficult it is for banks to grow in this current environment. >> yeah. definitely got a good litmus test on that mark, stay with us that's mark har graves, head of global strategies. we will pick up the conversation on corporate earnings in particular we're looking at appear -- slightly lower than 2019 as a result of strikes at stop and

shop stores in the u.s the dutch supermarket group says the labor conflict, which has now resolved will lead to an impact of $110 million on underlying operating profit. ahold added that the results in the first quarter remained unaffected and in line with expectations that's down about 4% another one we're looking at today, shares in wirecard have plunged after the german market regulator lifted its fwo-month ban on short-selling the company's shares just before the easter break german regulator imposed the ban after claims of fraud and creative accounting at wirecard singapore office prompted an investigation by authorities and massive, massive volatility in its stock. it has been a bit of a wild ride for wire card. today the stocks are down about 3% they were down 4% a little earlier. first couple of minutes of trading over the last couple of months you can see that the stock is indeed down 26% after that news

story emerged. >> elsewhere, thomas cook is considering a potential sale of its business this is according to multiple media reports. private equity groups kkr and eqt along with china's international are reportly interested in buying parts or even oil of the u.k. holiday company. thomas cook, kkr, and eqt declined to comment. they could not be reached for comment. elsewhere a photo of two gorillas seeming to pose for a selfie with a park ranger in the democrat republic of kongo has gone viral the picture was taken at a national park where the gorillas have lived at an orphanage after their mothers were killed in 2007 i've got to say they really do know how to pose for a selfie. coming from someone who knows how to pose for a selfie all right. coming up on the show, as u.s. earnings season kicks into full swing, we'll discuss the challenges facing some silicon

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welcome back nissan will reportedly reject an offer from renault that's according to japan's nikkei newspaper the japanese carmaker will instead insist on a more equal capital relationship renault holds a 33% stake in nissan, and nissan only owns 15% of its french partner with no voting rights. the relationship between the two carmakers has been tense since form are chairman carlos ghosn's on financial miskupgt. it comes a day after the tech giant responds or at least the happened set for an unspecified period as it investigates the issue twitter, snap, and facebook is sticking with the tech theme.

they're among the first big tech firms to report the first quarter earnings this week jewel borestein filed this report on what investors will be watching >> reporter: one thing they have in common, they're working to make their services more appealing as they struggle to rev up their daily user numbers. facebook's mark zuckerberg has talked about how they're shifting focus to secure messaging across facebook's platforms. instagram, what's app, and messenger. responding to user demand for these types of interaction that is are more intimate than the news feed. facebook struggles with the looming risk of regulation >> there's been regulatory concerns as we cover tech. we're paying attention, but we think a lot of that is in the stock given some of the negative headlines. we think fundamentally advertisers are still getting

the best roi in the facebook platform >> one way to keep consumers engaged on facebook and instagram? making it easy to buy products from ads right on the platforms where. >> mark zuckerberg called out shopping remains one of the biggest opportunities. we think advertisers continue to come to the platform given the strength of their reach. >> while facebook works to hold on users and debt them more engaged in the wake of scandals around data privacy and fake news twitter is also facing the challenge of cleaning up its platform from botts and fake users to make its service more appealing. that does come at a cost >> do you remember that facebook kind of amped up on last year in order to -- for platform security i think twitter needs to kind of do some of the same things >> smap is trying to return to growth after its daily active user numbers shrank last quarter. now ceo evan spiegel is hoping

to restart growth by integrating snapchat ranging from netflix to tinder and introducing games with so much competition for consumers time, we'll see whether the new strategies draw users back every day julia borestein, cnbc business news, los angeles. >> head of global strategy from asset global management. as i was saying, about 35% of the s&p are reporting this week just taking a look at the companies that have reported as of yet 80% have booten so far expectations that are quite low going into this first quarter earnings season.

>> we've had the des putin between qualm comand apple how are you playing into the 5g theme here, and how are you picking the winners and users? >> 5g is an interesting moment at the area.

i think if you think about 5 g now, you need to think maybe more about the laggards, and i think within that context the resolution of the apple dispute is a big change for many investors. it's been a stock that they've held away from actually, when we look at 5 g, qualcomm plays a crucial part in dividing the chips and it is is going to have a leading role when we roll out -- >> even after that instantaneous 20% reaction that we saw in the stock price, the dispute settlements were announced >> if you look at kwaul komt, that rally we had last week, which i think mainly reflects the sentiment with apple >> post the rise last week is that investors now can look at this stock on its fujss, and the

fundamentals on the 5 g cycle are very, very strong for this stock. it's a two to three-year earnings story i think over the next couple of years as investors see that evidence coming through, it will help support the stock further >> in terms of sectors, the broader composition of s&p, we've had a decent rally year-to-date already it's up 15%. do you think a big driver of that outperformance will continue to come from the tech sector? >> one sect over we've been looking at and i don't feel it's got hits in the last couple of weeks is the health care industry in the u.s.

thereby positive arguments on one side, and also negative going into an election in 2020 how are you playing this if you are playing it at all. >> drug pricing will come back into focus over the next 12 to 18 months as the u.s. election cycle ramps up irsz going to take a long time if any change happens. investors don't like uncertainty. i think that side of things it's going to be a headwind for the sector at the same time it's important to remember that there are exciting things going on 2018 was the best year for drug approvals since 1996

there's a lot of things going on areas such as gene therapy, offering new solutions i think our focus is on the innovation side and a bit more cautious on those exposed to drug pricing risk. >> it's a tricky one if you want to hedge out the macro i see your point about investing innovation got to leave it there. mark har graves, head of groebl strategies also coming up on the show, herman cain takes his hat out of the ring for seats on the fed board. stay with us as we dissect that story in a little more detail.

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global markets as european banks and u.s. tech giants prepare to report wires in sync as germany's market regulators list a short selling ban on the payments firm sri lanka oebz a day of mourning in the wake of easter attacks that killed nearly 300 people questions emerge over wll an intelligence tip-off was shared with an appropriate level to government we're billion 90 minutes into the european trading session. a bit of a mixed picture across the board. we've only got 5,100 trading in the green today. just shy of that 7,500 level about 30 points higher .4% further. the other indexes in europe are trading a little weaker on the data front today the only thing we're watching

out for later is euro zone consumer confidence. tomorrow all eyes will be onth german efo numbers remember, we did have a bit of a disappointing bunch of pmi trends come out last thursday. that is affecting on the macroside. a lot of the folks today has been on the earnings, micro, and the -- that's been lifting some of the oil and gas shares within european markets switching on, let's take a quick look oot currencies as well. the theme over the last couple of sessions has been the strength of the u.s. dollar. we're seeing that play out versus the euro today. it's turning a tad ek awayer to the tune of almost .1% just below the flat line there 112.50 is the mark dollar yen just hanging in below 1 12, and cable just shy of the 130 level worth bearing in mind that mps will be coming back from the easter recess expect a lot more developments on the political side of things after a couple of weeks of little news in that -- on that

front. the other thing watching out for this week is european banks earnings barclays are set to slash bonuses in its investment banking division that is according to the financial times. the move comes as the bank aims to defend itself against pressure from activist investor edward bramson it will be tied to performance in the struggling units. the british lender has been advising shareholders to oppose bramson's bid to get a seat on the board at the company's general meeting next week. as i was just talking about, the european banks take to the earnings stage this week after the u.s. peers posted better than expected results.

>> just lay it out for us in terms of where you are expecting to see surprises, if any, from this european bank earnings season obviously on the heels of the u.s. up slightly better overall. >> we are going to see very mixed results, and i think the same thing would be coming off credit suisse in particular. >> are you expecting to see as much weaken as transpired in u.s. banks for european banks on the trading front side of things as well? >> indeed. we're talking about global institutions i'm not expecting anything too different. where i will expect to see a huge difference is particularly

those who have very large equity franchises, because, in fact, it's the equity markets that have been the atheir weakest. ultimately it's a matter of cost canement, and this is coming under a lot of pressure particularly in the investment banking units and on the back of some of the activist shareholder concerns as well >> i'm giving them uniformly and am i think what we are finding now is more of a consistent approach to the way bonuses are paid out in fact, all banks have to answer not only to shareholders,

but also to their other employees, and i think that's a key point. i think this is -- >> at the end of the day there's a fine line, isn't there, between talent retention and cost containment if you are the only banks slashing bonuses that puts you at a competitive disadvantage versus other banks it has to be a group effort. i think there are a huge wave of population within banking. we still see it as a career and not just what do i get out of it >> one of the other issues that is, well, very emblem attic of the yurp even banking industry, unfortunately, is there have been many finds, many stories, and not just talking about the standing order banks, the money

laundering scandals, but its legacy issues. do you think we're coming to the point now where we can finally put these legacy issues behind us and move on? if you look around the scandals and everything else, i think we're now in a position where we can allow the banks to actually do what they do and focus on what they should be doing going forward. >> but do you not think that there's an argument of, fine, allowing banks to do what they do, but ultimately, the problem with the european banks right now is profitability because of the unfavorable macro, because of the low interest rate environment, and because there's simply too many of them. how can you stand out in that environment? >> a little bit of gains i think that, in fact, one of the things that we got stable at the moment is actually a

macroeconomic outlook. it's actually far more favorable than we've seen for a long time. even in the waves and -- we're still seeing something which is more favorable the other thing is we have a regulatory framework which we all understand we are working well to that tune one of the things that we are focused on now more than anything else and i call them the two t's. transformation and technology. >> are you looking at rewarding the banks who are ahead when it comes to tech and adopting these new forms of technology, emembracing elements of fin tech >> you should have some 16 or 17-year-old and ask them that

question what do they want from their bank? >> i'm over invested banks >> thank you for joining me on the show that was julian, head of financial institutions group from mufg. i just want to bring you some flash that is we've got out of sri lanka. a minister says the initial investigation shows that easter sunday bombings a retaliation against new zealand's mosque attack that is the first of such headlines that we're actually getting on back of this story. clearly, huge developments huge loss of life on sunday. this is the first that we hear that it is technically has been a retaliation against the new

zealand mosque attack. now, a state of emergency has indeed been declared in sri lanka as authorities search for suspects behind attacks on churches and hotel that is kill 290 people over the easter weekend. bill kneely filed this report last night >> today more bombs. three exploding in a vehicle as troops try to diffuse them two dozen people arrested. tonight the government is blaming the easter massacre on a local islamist group, with foreign help warnings were ignored. ministers telling nbc news that they had a tip-off that suicide bombers would attack churches. yesterday there was no security here >> why weren't the churches protected if you had a warning >> well, how many can be protected, but we informed we informed that there is -- we never expected an attack of this

magnitude. >> churches and hotel restaurants blown to pieces. at least four americans among the dead deter had just arrived at his hotel when a man detonated a suicide bomb just on friday he wrote "the fun begins love these work trips. see you soon, sri lanka. also among the dead a fifth grade student. kiran stafford from sidwell school in washington d.c the richest man in denmark, fashion billionaire anders paulson lost three of his four children the first blast at a church captured on dash cam video inside carnage statue of jesus spattered with blood. nearly half of all the victims dead and injured were praying here when they were blown up by a suicide bomber >> i just heard that explosion i had never heard an explosion like that. >> what followed was coordinated. six targets bombed within half

an hour. in the capital a church and three luxury hotels. two more churches hit in two other cities no one has yet claimed the attacks. the worst on christians in asia in living memory >> u.s. intelligence officials say isis may have inspired this, but there is no evidence yet that they were directly involved the state of emergency has just begun here a nation in shock and in fear. bill kneely, nbc news, sri lanka. indeed a tragic story also coming up on the show, herman cain takes his hat out of the ring for a seat on the fed board. stay with us plus, the former white house counsel don mcgann is subpoenaed to talk about possible obstruction of justice we'll have the latest after the break.

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welcome back to the show the sports segment chelsea are just holding on to

fourth place in the premier league after being held to a 2-2 draw by burnley yesterday. the result puts the blues level on point with their london rival spurs while arsenal trail just one point behind with a game in hand the team are battling for that top four finish to gain automatic qualification for the champions league next season and elsewhere tesla boss elan musk says he plans to launch a fleet of over a million on demand robot taxis by next year musk's ambitious announcement comes at a critical time tesla is expected to post a slump in q1 sales when it reports this week. separately, the company says it is investigating a video that made the rounds of chinese social media that appears to show one of its cars bursting into flames. cnbc's phil lebeau has filed this report on the challenges facing tesla ahead of wednesday's report >> reporter: even late in the day as tesla ceo elan musk

outlined his vision for the future of tesla vehicles with autonomous drive technology. that includes launching robo taxis in drivers in regulators approve starting next year here's musk on his vision for self-driving teslas. >> as we expect to see it complete in self-driving this year, and we expect to be confident enough from our standpoint to say that we think people do not need to touch the wheel, look out of the window. sometime probably around second quarter of next year then we start to expect to get regulatory approval at least in some jurisdictions for that towards the end of next year >> one reason tesla shares were under pressure for most of the day, video out of shanghai over the weekend showing a tesla model s catching on fire it raises the question whether or not there was some type of a defect or something wrong with the battery pack that prompted the fire we should point out the video

has want been independently confirmed by cnbc, and we know that tesla is sending a team of investigators there to look into what actually happened with this incident don't forget, tesla reports earnings after the bell on wednesday. those are the numbers that everyone are focused on in terms of getting a sense of if tesla posted a loss for the first quarter and what's the outlook going into the second quarter? phil lebeau, cnbc business news, chicago. our other top story today, the u.s. has announced it will end sanction waivers on iranian oil with the aim of bringing tehran's exports down to zero. the move is expected to hit iran's asian customers in particular, including china, india, japan, and south korea. i'm very happy to bring in jason, senior oil and gas analyst at jeffries who joins us on the line. good morning to you, sir yesterday we had a day of 3% raeksz in the price of oil today oil is also up about .8% is the reaction justified in your view? >> well, i think it is it's actually a fairly big

surprise to the market we had expected that the u.s. would extend the waivers, albeit at a lower level this is about a million barrels a day. a little bit over that about 1.1 million, 1.2 million barrels a day. it koomtds out of the market unexpectedly the price reaction is as you would expect >> jason, of course, i mean, the u.s. has said that they're targeting the exports that get to zero. the question is whether or not these countries are going to comply with that right? is what they do from here will be a big determinant of ultimately how much oil iran ends up exporting and to take it one step further, the price impact on the market.

it could mean that the iranian exports maybe go to 700,000 barrels a day versus the 1.2 million barrels that weave seen recently >> just to put it into context then, again, the assumption and when the u.s. president announced this yesterday, the assumption would be there would be some form of compensation coming from the uae and saudi arabia i mean, how do you expect saudi arabian uae to respond especially given their overt levels of kpleens with the cuts that were announced back in december saudi arabia are almost 200% compliant. >> yeah, that's right. i would expect that the opec producers will step in to replace the iranian crude to the extent that they can we certainly know that saudi arabia can produce more than a million barrels a day greater than what they're producing in march. i do think that that will happen that will keep the markets

somewhat in balance. the issue becomes that means very little spare capacity in the global system. you are putting a lot of pressure on the supply side. >> reading between the tea leaves, sir, from what i can tell, you are bullish on the outlook of oil from here >> i think oil has to continue growing higher so long as there's a threat to the supply side eventually we do start to see elasticity come in, but so far global demand has been quite strong yes, i would expect the oil prices continue to grind up from here >> what other sort of wild card response that people aren't discussing enough is what iran will do in the situation we heard from a commander in the islamic revolutionary guard. he said they may look to close the strait of hormuz that would be a huge geopolitical event and

development and would really impact saudis' ability to export the oil. do you worry about how the iranian side may react and respond from here, whether it's closing the strait of hormuz, or they're launching some sort of cyber espionage attack >> shure. i don't expect that the u.s. would allow the closing of the straits of hormuz. they have a lot of military assets in the region it would be problematic. that's part of the reason that oil prices are reacting the way they are that is further threat to supply, obviously. the straits of hormuz are too strategy eenlicily important for the u.s. to allow that to close. that is just further upward pressure on the oil prices >> just to bring it back to the next flash point, opec meeting in june. obviously, it's a big one. are you expecting to hear some signals from the big producers, saudi uae, and obviously russia as well, that they would be looking to support the u.s. in

this endeavor this time around >> i actually think that we'll hear from the opec producers before the june meeting. i think this is something that they will address in the relatively near term >> all right sir, i'm going to leave it there. thank you very much for taking the time to chat with us that was jason, senior oil and gas analyst from jeffries. sticking to the theme, north korean state media has confirmed the country's leader kim jong un will visit russia to meet president vladimir putin the news comes in the wake of a failed summit between kim and u.s. president donald trump in february it's not known where or when the meeting will take place, but the kremlin has confirmed that it's on track to happen by the end of april. interesting development there. elsewhere, vladimir zolinski has won the ukrainian presidential election by a landslide. the comedian best known for playing a fictional president

has promised to end the war in the east of the country and root out corruption he has already pledged to continue europe-backed peace talks with russia. big question is for ukraine is that the imf package and the developments of the reforms that they will enact and whether or not that will comply with some of the requirements out of the imf there. and switching back to the u.s. herman cain has withdrawn himself from a seat for the fed board. cain said it was an honor to be picked by president trump, but that the rule would limit his influence and his earnings four republican u.s. senators said they would oppose cain's nomination effectively ending his chances of securing confirmation to begin with now we know he has formally withdrawn from the race. elsewhere, former white house counsel don mcgann has

been subpoenaed into possible obstruction of justice by president trump. the panel chair described mcgann as a critical witness to many misconduct described in a report by special counsel robert mueller. the move comes amid growing divide amongst democrats about whether to begin impeachment proceedings against president trump. certainly we've been watching the political developments in the u.s. over the last couple of days it was also very, very big week in terms of earnings we get about 35% of the index reporting. 155 companies, including the big tech ones. all eyes on nasdaq performance at an all-too many high. dow seen opening up moderately higher that was it for today's show worldwide exchange is coming up next stay with us

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a crude alert. oil surging to yet another 2019 high the white house laying down the law on iranian oil exports gasoline prices also likely to move higher. brace yourself for an earnings deluge three big stocks about to report their results. we'll break down what you need to know. facebook lawyering up. tapping a former top state department lawyer as its chief legal counsel. elan musk's 2020 vision. what the tesla ceo said about the future of driving that is getting a big buzz this morning. and we are firing up the old worldwid