you welcome to "street signs." i'm julianna tattlebalm. >> the tech firm loses access to some google products sending shares across europe lower. >> and infin yum slumps on the news that the rival stock jumps as investor says google's move to upset the 5g rollout.

opec and the allies will maintain output cuts this year russia's output minister tells cnbc they will continue to work together. >> we are supportive of continuing our cooperation with our colleagues from other countries from opec and non-opec nations but this continuation could depend on various aspects. and ryanair drags stocks lower. they posted their worst annual profit in four years as brexit and boeing's grouped 737 max cree aid headwinds. >> markets at the moment are tough. prices are a bit soggy after the summer and we talked about oil there in a very good position. the business is in good shape for pricing itself i would anticipate the pricing would remain soft.

well, good morning and a very warm welcome to "street signs. let's get into our top story of the morning. that is around huawei and the black listing of that company in the last week. i want to take you to european chip makers and highlight the trading we're seeing this morning. google parent company alphabet has suspended some of its business with china's huawei google has restricted access to key hardware and software. according to the nikkei, infineon has stopped supplying huawei this is the supply chain affected the german company down about 3% so big negative moves for the european supply chain. in contrast though, let me show

you know kea and eriksson shares shares in these two companies are trading higher this morning, the thinkingbeing if the u.s. is to ban huawei from selling their telecommunications gear in the u.s., this could pave the way for no nokia to paver the way and eriksson is trading 1.4% higher on the back of the beat. let's look at what has happened in china in response to some of these new developments around the country the shenzhen closing down 3/4 of a percent. the shanghai the composite is down 2/5 of 1% look at what's happened to the dollar

do you remember roll league joins us with details. how damaging could this be to huawei >> well, the short answer, willem, is very damaging if you look at huawei's smartphone business right now, more than 50% -- sorry, just under 15% of their smart phones happened in international markets. now in china it's fine because it uses a modified version of andro android. all of those services are blocked in china where they will see the biggest impact is in the international markets, places like europe, latin america where google services are available and are what consumers have come to expect from the markets. they're buying from huawei i think huawei has come out amid all of this trade tension between the u.s. and china that

it does have some contingency plans. it's developed its own operating system where it could be rolled out. will consumers be willing to try it out if the next generation of huawei phones come out with a new operating system will huawei be able to roll it out at scale it's not just the software side of it. huawei is on the entity list in the u.s. which means americans need to see government approval in order to sell equipment and components and software to huawei that's going to hit the rest of the supply chain as well the reports this morning that huawei key u.s. supplies like qualcomm and intel are considering not selling any stuff to huawei going forward until there's more clarity on

the situation. that can also damage not just the smartphone business and the other consumer electronics that huawei makes but the cornet working equipment as well that relies on many of these suppliers. this u.s. government move is hitting to the heart of huawei's business not looking to ban them but attacking the supply chain direct and that could cause huge headaches for huawei going forward. >> for more analysis read why google's move may be a kill switch for huawei's global plans. richard windsor is the owner of radio free mobile. he joins us from abu dhabi is this move from the trump administration as far as you're concerned the most damaging move against huawei so far? >> yes, i think so it's 50% huawei's device shipments. huawei is a very strong number

in android half of all of the shipments are sold outside of china and all of those shipments depend on google services being present on them if it's not on them, no matter how good it is, they will have a tough time selling devices outside of china that is the essence of the problem. >> how does this block compare to the blockade that washington put up against zte >> it's actually not as bad because when zte was blocked, it was a situation of you will not sell anything to these guys, period you have a situation where there's an entity where if u.s. companies want to sell they have to apply to government approval. how difficult it is, whether they will apply or not remains completely open to question. as a result of that, it's not as bad. if u.s. sells stock to huawei,

then it will be bad. >> how do you think about washington's motivation for this move is huawei caught in the cross fires of a trade war or do you think that washington's end goal is to take huawei completely out of the market? >> no, i mean, i can't really see any particular reason why washington would have a particular grudge against huawei and want to put them out of business i think what they're really after is the u.s.a. wants what it sthis a fair trade deal with china and huawei is simply ending up being a bargaining chip seeing as it is seeming to be very close to the government and if huawei suffers very badly it will have an impact on china. >> questions from an investor perspective, richard how long should people expect to wait until they see the impact of this on huawei's revenues and in fact its bottom line as well? >> that's a great question the first thing out there, don't

forget, is huawei is not listed. it's not going to produce 2019 figures until sometime next year so you won't see it for a while. however, in terms of the fundamental impact, i would expect a good three months simply because the devices that huawei has launched are not impacted this year's device schedule looks fairly okay. it also claims it has 90 days for the component pieces that it's going to have trouble so i look at it like this. huawei has 90 days to sort the problem out before it may start to take a hit. >> for those firms that aren't publicly listed, where can they look do you think? >> i think nokia as your previous commentator mentioned is certainly one place to go because obviously if huawei falls away, nokia can move into that slot. the other i would look at is samsung. if you look at huawei, huawei

has caused samsung some grieve so with huawei being put out, then samsung has a great opportunity to re-establish the dominance in the android which would allow both market share to go up and its margins to go up from that perspective there, there could be a fairly good increase in profitability. >> really appreciate the time today. that's richard windsor. president trump has said a trade deal with beijing cannot be 50-50 china has forced from tariffs. >> from china's standpoint it's not good because all of these companies, many of these companies that are pairing the tariff are moving to vietnam and other countries in asia. china is obviously not doing well like us since i've been here, since i've been president we'vemade almos $10 trillion in wealth and china

has lost $10 trillion in wealth. they've lost a tremendous amount you know, they've had -- you see what's happening their economy is not great our economy has been fantastic. >> speaking at a rally a day earlier, trump decided to delay auto tariffs on the european union for 180 days. >> the european union treats us, i would say, worse than china. they're just smaller and we all love europe we love europe i think they've got to be careful with europe, frankly, but we all love europe >> european markets have now been trading for just over an hour and it's proved to be a volatile session already early on we saw the stoxx 600 dipping into dangerous territory. it's 3 basis points higher

huawei taking center stage when it comes to the top down concerns for investors as they digest what this means for the broader trade war and, of course, specifically what this means for the tech sector. investors are preparing for key economic data in the terms of key pmi. the parliamentary elections which kick off on thursday as well a lot for investors to digest. we are seeing losses across the german, french, italian indices. the ftse 100 trading 10 basis points higher. the key underperforming region the ftse mib is down 1%. politics have returned to the forethere. some concerns around political stability returning to investor's minds we had a nationalist rally taking place in milan so investors certainly taking stock of what this august means for the stability of the political

alliance in italy and the broader italian market let's take a look at the sectors. in addition to all of the top down macro themes, we do have some more results coming through this morning travel and leisure trading down nearly 1%. there we had ryan air coming out with their report. the worst annual profit as brexit and boeing 737 max has created headwinds for the company. at the top of the board, oil and gas the clear outperformer stocks up and opec will provide a cut. willem >> just to clarify that those comments involving president trump saying that europe was worse than china, they took place at a meeting he was addressing of real estate professionals. if you have any views on the u.s. trade policy get in touch

with us on twitter coming up on this show, ryanair shares stumble after the airline reports its weakest full year profit in four years. get it. get it. get it! get it! crowd chanting: get it! get it! get it! (crowd groaning) (crowd cheering) narrator: give your town a reason to celebrate because every goodwill item you bring home, brings job training and more to your community. goodwill. bring good home.

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a company spokesman acknowledged details from an earlier report that there were flaws in the system when he said the simulator had been unable to replicate the kind of flight conditions that played a role in the two crashes that killed 346 people. in related news ryanair has dragged european stocks lower after it delivered a cautious outlook. low cost carrier reported its worst annual profit in four years and warned brexit uncertainty and a delay to the delivery of those boeing grounded 737 max planes could cause earnings to decline further in 2020. the budget carrier said fares in the first six months in september were down from last year and that the trends would continue through the summer period over the last few days cnbc has spoke enn with a number of

executives they have warned that it remains tough. >> the competitive environment last year was very benign and that carried into the q3 but all in all the numbers, you know, are very clear that 3% more customers have booked with us for this summer, but there is an effect on the pricing environment because it is tougher out there, there's no doubt about that. >> the business is in good shape of pricing itself, then i would anticipate the pricing would remain soft for the coming months and that will clearly lead to opportunities on the consolidation front as more airlines with the higher field price and weaker fares make themselves in difficulty over the next few months. >> i'm pleased to bring in steven furlong to weigh in on the ryanair numbers. they've posted the the weakest annual profits in years. as a result caught a glimpse of your morning note. you have to lower your net

profit estimates again yet you're still bullish on the stock so do you think investors should look through the weakness that's come through today? >> yeah, hi. clearly it's a very difficult operating environment for all airlines, including ryanair. you're right, our estimates have come down. in fact, the margins of ryanair have pretty much halved since fy '18 but i do feel after the periods of low oil prices and excess capacity in the market, this has basically been weeded out. the capacity levels in the market are a lot slower this summer, probably 2%, and we think as you go into the winter it will get even better where competitor capacity against ryanair will probably be negative i think we probably will get a bit better revenue environment that the company is saying today. on the other point, on their cost side, i think there's some

consolidating effects from ryanair of consolidating the acquisition it had of lauda and also they've had a delay clearly in the delivery of their max -- or there's likely to be some delay in the delivery of the max aircraft if they come in for the following year, they should get some cost-benefits there i guess i'm saying this timing effect here in adifficult operating environment and normally, you know, the stronger players win out in the end. >> that's all very clear i want to just broaden the conversation to owe ryan air's strategy earlier we had the cfo and they do see opportunities on the consolidation front n. your view would it make sense for ryanair to look at someone like norwegian doing the long cost long haul to expand this way or do you think ryanair is better off looking to expand

organically or is long haul something you can see in ryanair's future >> ryanair will continue on to 200 million passengers by fy '24. they may take a look at activities by lauda. it will all be focused on short haul. >> i don't want to revisit brexit but in terms of other things the company has pointed to this morning, it's the grounding of the 737 max how does that impact their bottom line going forward? and for how long could it impact their numbers? >> that's a good question. basically what they've said is they were due to have five aircraft be delivered before the summer and their expectation now is those five aircraft will come in for the winter schedule and they were going to give most of their aircraft for this year, 42 was going to come in over the

winter those aircraft come in for next summer it's almost like they're a season behind what they planned, but for ryanair what that meant is basically for this year for the guidance for fy '20 there's no efficiencies for the new aircraft which is supposed to have 4% more seats and 16% more fuel efficient the efficiencies will largely come in fy '21 onwards from ryanair from a customer and operating perspective, broadly the schedule will run as is. mostly they were reliant on the max until next summer, summer 2020 so i think for ryanair it's kind of mission critical really that the aircraft comes really for next summer, fy '20 and, frankly, if it doesn't there's a huge problem for boeing. >> let's talk about the company's share prices going

forward and the past 12 or 18 months we've seen it fall pretty significantly. we're looking at the 12 month chart right now, down 34% over that period. i'm just wondering, in terms of the company's share price, how much of that fall do you put down to issues like union disputes in terms of the disruption it's had on the work force, the timetables versus aspects like higher fuel prices or the european short haul market >> i think -- i mean, i think the fact that the share prices have gone down is because you have the margins and the margins in a company are down 10% than they were. the financial performance has been a factor in all those things you mentioned, but i think what the company's shown that even having unions they have the growth story still very much intact.

it's just really you're absorbing -- a lot of it is you're absorbing higher fuel prices inevitably it takes time to pass that through for the whole market the market itself i think was flooded with over capacity particularly driven by a couple of years ago when oil prices were lower and now you're just seeing, as you've seen last week and in the winter, the pain hitting and i just think that we'll be through this process much better once we get into next winter. >> steven, we have to leave it there. thank you very much for joining us this morning to weigh in. steven furlong, senior equity analyst from davy research. the surprise election victory. the report was filed from sydney. >> this was supposed to be the election of the opposition labor party couldn't lose. scott morrison and his conservative liberal national

conservative governing party have swept they did not call this one it was a massive surprise and indeed the prime minister in his victory speech said i believe in miracles it was a long and grinding 2019 election campaign. it was called at times both tough and toxic. he conceded defeat and now the labor party is looking for a new leader one thing is sure though, it seems as if their platform of a radical wealth redistribution, high taxation and high spending just didn't resonate with voters the way they had hoped indeed, in the lead up to the election in the 30 days ahead of saturday, may 18th, google searches on tax soared and outstripped google searches on climate change by more than four to one moving on, it is down to business they have to focus on what is happening with the economy here in australia we have not

had a recession in 28 years and no government wants to be the one to break that record nonetheless, the economy is losing steam we have a housing market in certain parts of the market that is buckling under pressure so the treasurer is saying let the tax cuts flow. they're hoping to push through their center piece policy of $158 billion of income tax cuts perhaps by the end of june and to follow through on their campaigning of being the better economic manager back over to you. >> sticking with the subject of elections, the latest exit polls in india indicate that the current prime minister narendra modi will maintain power he is projected to win as many as 365 seats that is in a 545 seat lower house. the final vote tallies will be announced on thursday. if we take a look at where the indian rupee is trading against

the dollar, you can see the dollar is slightly lower. ahead we'll be discussing italian elections. and coming up next, tensions between iran, the u.s. and its allies demonstrate the fragility of the market. exder vawi bhealannok lle re ♪

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welcome back to "street signs. i'm willem marks. >> i'm julianna tattlebalm, these are your headlines. huawei feels the heat after they lose access to some google products sending shares lower. infineon slumps after they've suspended their shipments to huawei while nokia jumps. meanwhile, oil stocks outperform after opec and its allies signal they will maintain output cuts this year despite

rising middle east tensions. russian's energy minister says the countries will continue to work together. >> translator: we are continuing to work together but this could depend on various extents on how the situation unfolds. ryanair drags stocks lower after they post its worst annual profit in four years as brexit and boeing's grounded 737 max cree aid headwinds. >> markets at the moment are tough. prices are a little bit soggy, particularly in summer you talked about oil there where we're in a very good position with oil ourselves the business is in good shape of pricing 24e7b i would anticipate pricing would remain soft. it's been a mixed day for

trades so far with the euro stoxx 600 starting out on lower footing and crossing into positive territory right now bouncing around the flat line. the worst performer of the morning by far and all morning has been the ftse mib. italian stocks trading down 1.1% politics returning to the fore over the weekend there was a nationalist rally taking place in milan ahead of the european parliamentary elections which kick off on thursday more broadly speaking markets are digesting the fallout from the u.s. move to black list huawei so investors trying to interpret what that means for the broader supply chain behind the tech space. in addition, we have flash pmi space. we have a glimpse into the state of the economy plenty for investors to digest let's look at fx markets

last week was quite a big week for certain currencies the pound had formal cross party talks that broke down in the u.k. right now we are seeing the pound climb a little bit higher, about 25 basis points around that 127 mark. worth mentioning also this week we have a set of ecb and fmoc meeting minutes due. so we'll get a little bit more clarity into how the central banks are thinking about the risks to their various -- to the various economies. the euro trading four basis points higher around the 111 mark let's take a look at u.s. futures. on friday we saw markets end the day lower. all three major indices broke three day win streaks. now this morning we're looking at a little bit of a bounce back there. the implied open of the dow was 80 points higher, nasdaq 11 points higher. the s&p 500 about 7 points higher willem >> thanks so much, julianna. opec and the allies plan to keep output cuts in place

after a meeting of oil ministers. he said the final decision would be made in vienna in june. the oil markets remain, quote, fragile. russia's minister said he supports a stable price. our colleague dan murphy joins us live in jetta was iran a big focus of this conversation >> reporter: absolutely. milan was a huge focus within these conversations. as you can see being reflected in the price of oil today, two key factors, renewed geopolitical tensions between the u.s. and iran but as you point out, number two, is this commentary that we've heard from the saudi ministry reaffirmed a commitment, a consensus among the major producers to extend the production cuts into the second half of the year. they said uncertainties remain and they are reducing global inventories. he's not fooled by global prices

and the market remains fragile what the bigger uncertainty is is exactly what's going to happen at this juno peck meeting when it comes to volumes we don't know if these major producers are going to decide to pump more oil in order to make up for the loss of iranian barrels as a result of those u.s. sanctions so far saudi arabia and the uae have held off on the calls from the u.s. president, donald trump, to increase production so it's really going to be data dependent according to the ministers that we've been speaking to and clearly they need to assess the market earlier before they make a decision in june we are speaking with alexander novak with an insight on how he's reading these russia seems to be somewhat at odds with the saudis when it comes to this agreement and while russia would like to see the overall extension going ahead, the energy minister has suggested that perhaps a volume adjustment could be on the agenda clearly pumping more oil would be supportive for the russian

economy. that's something we've spoken about in this first on cnbc interview. list j list. >> translator: as far as russia, we've completed our plan over the last three months to achieve our plan figures that's quicker than it was two months ago and they have implemented the agreement in terms of volume. we are committed to implementing the agreement and we will implement it fully to the end of july and currently at the end of may we have even over complied by more than 100%. as far as our joint plan of action for the second half of the year, we are supportive of continuing our cooperation with our colleagues from other countries and opec and non-opec nations. this continuation could depend on how the situation unfolds by this time and what the forecast for supply and demand will be on the market >> so what does that look like then what are we going to say when we come into this juno peck meeting? what kind of changes to this

will take place? >> translator: in the second half of june there will be a ministerial meeting. in preparation for this the technical committee will meet which will also have the results for may and a better idea of the forecast for the second half of the year, therefore, i think we'll have everything necessary to make the right decision in the interests of the market, primarily in the interests of both the exporter and consumer countries which will become balanced in the second half of the year for us, first and foremost, we must nt allow simultaneously, we shouldn't allow a short fall or for example a glut in the market which might fundamentally affect the situation with reserves. we aim to achieve reserves with a five year average level. the reason why it's difficult to take a decision today is because we can see that the current situation is fairly uncertain. on the one hand, the agreement is being over fulfilled. on the other, the reserves, according to the special operations department figures, have been growing over the last two weeks and it's important to analyze this and later see how

the situation will develop with demand will it be the same demand that is being forecast? >> reporter: as alexander novak pointed out there, it is difficult for these producers to make a decision today given the amount of uncertainties in the market if we did see some kind of volume adjustment coming into the second half of the year, it might be the case that these producers could essentially reduce compliance with saudi arabia sheltering most of that gain compliance in april was above 160% so they certainly have a bit of buffer room to move if they choose to the other proposal that was flagged at the meeting was the potential to see the $1.2 million barrel figure reduced which would share the gain across the broad producer group. there are a number of corporations up and they will be data dependent the other information is rising geopolitical tensions. just in the past 24 hours we've seen increased rhetoric from the

united states towards iran with the u.s. president donald trump tweeting out against iran warning of the end of iran if it didn't stop its behavior in the region and curb some of its rhetoric the united states has been seen as somewhat of an aggressor in the region as well it's been deploying more military assets into the middle east and it's made the decision to end the iranian export waders we've seen significant friction emerging among countries in the region out here as well. for example, we saw an attack on a saudi oil pipeline just last week with the finger of blame being pointed firmly towards iran and the proxies and at the same time the geopolitical frictions are adding a geopolitical price premium to the oil benchmark that is something these producers are going to have to navigate as they come into the second half of the year as well. plenty to focus on as well and

we'll continue to monitor the conversation and the market as well back over to you. >> dan, thank you so much for bringing us those really important interviews i want to bring you some fresh headlines -- some fresh lines we've gotten from huawei just out. they have said they have made substantial contributions to the development andgrowth of android around the world and they will continue to provide security updates and after sales services to all existing huawei and honor smartphone and tablet products they said the updates will cover devices that have been sold and that are still in stock globally adding they will continue to build a safe and sustainable software ecosystem so those are the -- those are the response comments from huawei in reaction to the u.s. move last week of course to black list huawei and now the reaction we've seen from a couple of the key players in that market so huawei saying they'll continue to build a safe

and sustainable ecosystem. interesting to hear directly from the country. meanwhile, the austrian chancellor called a snap election over the weekend after a corruption scandal brought down his coalition government. the vice chancellor headed up. nationalist freedom party. there was a video that purportedly showed him talking about state contracts with the woman who is the knees of a russian investor he said it's been difficult to deal with the freedom party and, quote, enough is enough. the austrian president said elections should take place in september this year. and in italy the economy minister has urged the government to regain investment. he's warned a level of spread is excessive. he told an italian newspaper that, quote, it's impossible for rome to stick to its deficit commitments while it also cuts

taxes and hikes public spending. the italian prime minister has responded. he said e.u. fiscal rules must be revised and that a reduction in corporate taxes is the only way to create new jobs meanwhile, salvini also hosted a rally of nationalist leaders in milan ahead of the european elections now sylvia joins us live from brussels sylvia, you have been keeping a very close eye on the european parliamentary elections. all the dynamics at play why do these elections matter? >> reporter: well, the big question is really how much support will the national parties have in these elections? this is the big issue. it's what everyone is discussing, how much say will these parties have in the next five years of policy making. in this context we heard from matteo salvini

he said this week end in his big rally in milan that he's not a far right politician that, instead, he supports politics of common sense let's take a listen. >> translator: because we're living in an historical moment, it's so important that we need to do everything that is right to free this country, this couldn't nent from the illegal working in brussels. thank you for being here >> reporter: at the same time we're seeing the mainstream parties battling to get the majority of the european parliament seats and in this context we heard as well from chancellor angela merkel saying this weekend that the politicians in the e.u. need to come together and fight those that are trying to destroy the union. >> translator: our values mean that we can be proud of our own country and build europe at the same time. patriotism and the european

unions are not enemies that's what we have to make clear in the last days before the elections, dear friends. >> reporter: you can see the divide that crosses the e.u., pro-e.u. and euro skeptic parties. it's important to monitor what they say and of course the outcome of the elections on sunday night have to remember our viewers as well that the first voting day is on thursday the first r first vote will continue throughout europe as i said on sunday night. >> thank you so much for bringing us those details from the week end theresa may has promised her government will propose a, quote, bold new offer to mps when she brings her brexit deal back to parliament in two weeks. the british prime minister wrote to the sunday newspaper that the bill will include a new package

of measures. this is said to be may's last chance to push a deal through parliament after she steps down as leader after the vote concludes. >> opposition leader jeremy corbin has warned they will not support may's deal he told the bbc he does not believe it will be fund amountly different from failed iterations. >> it's unlikely that it would take us much further i think the government has to come up with legislation through negotiation with the e.u at the moment the extension goes until the end of october but the idea that they can produce a bill the beginning of june and getting through all of its stages by the end of july is very difficult. >> very, very unlikely coming up on the show, golf has a new number one following a dramatic conclusion to the pga championship we'll have all the details coming up next

welcome back to the program.

oecd secretary general has blamed trade tensions between the u.s. and china for the global economic slowdown our colleague jomana versace joins us >> reporter: that's right. good morning, guys right here at the eocd forum it's a gray day, perhaps a reflection of the outlook. the formal output will be tomorrow i want to take it back to one year ago because i was right in this exact spot 12 months ago having a similar conversation with mr. gorea back then he said the world was looking okay back then they had projections of 3.9% global growth. he warned much of it was on the back of what he called policy crutches remember, we had the u.s. fiscal stimulus i started off the discussion by asking him whether or not he thinks the world environment and the global growth output could

still be contingent on the policy crutches and mr. gorrea said the big difference is today we've got a trade war. interest's a massive amount of trade tension going on in the world and that has subtracted a lot from growth to the tune of about 1% i put it to him, if it hadn't been for the trade tensions would we still be in an environment where things will be looking rosie or will things be quite negative as per what he spelled out 12 months ago. let's take a listen to what he had to say. >> uncertainty is the greatest enemy of growth and when you don't have investment because of the trade uncertainties, then of course you -- you know, just as rule of thumb, growth will come down and this is what happened on a relatively short period of time it's really a very bad scene today. it's a very great source of concern. >> reporter: a great source of concern not mincing his words there. he says, it's not just about the

tariffs, but it's about the uncertainty that creates business investment decisions, also uncertainty when it comes to the consumption decisions if you're a business thinking about expanding, he's saying you're going to postpone those decisions because you don't know whether you're going to have access to markets and at what price you're going to have access to markets. similarly, if you're a consumer, you don't know how much ultimately the goods are going to cost you if you are facing the prospects. they're saying all of this uncertainty is not a good thing. they shaved off 1% so i'm expecting something around 3% for the number when it comes out tomorrow europe is in the middle of this. it's not just a global phenomenon europe is at the heart of it domestic headwinds as well this concept of trade discussions that started 12 months ago has spread out and is becoming the number one reason

in the oecd. >> thank you for bringing us that very interesting interview. well, golf, you may not know this, has a new world number one. that's after brooks koepka survived and he got the top ranking. adam reed joins us with the details. he was nearly throwing it away at the last. >> yeah, unbelievable what pressure can do to you in these events especially when you're ahead, chasing someone down and you have nothing to lose and therefore you have a better chance of doing t. a seven shot lead looked like it was going to be plain sailing for bruce koepka he was taking the course apart for the first three rounds it looked like it would be a bit of a procession on the final day. strong winds and a troubling

back nine meant that he ended up missing puts. >> but the former now world number one, dustin johnson, gave it a good go got within one shot for a brief period of time brooks koepka composed himself again. here he is on the 18th he said after this he was just happy there was no more holes to play because it was getting pretty stressful out there it was a very tough day of golf. it was a wire-to-wire win. he led up until right at the end so very impressive from him. he's now become the first man to retain the u.s. pga championship and the u.s. open. he's now up to four majors a very unusual looking leader board. jordan spieth back on the first page of the leader board but it's nice to see him back up

there. it really was about koepka and it has been him for 18 months. >> when you see him back there in contention, you think about how many competitors are at the top of the game right now. in terms of winning these majors, it's not an easy task, is it? >> it really is tough. tiger woods winning at the masters last month, he's got 15 now. that we sort of get side lined a little bit with tiger woods. bear in mind, these are the active guys still on tour trying to win more majors it's very rare for anyone to get -- these are all the guys that would be thrn three or mor. justin johnson has one, rose has one, justin thomas has one. >> great big hopes and now where are they >> it's that competitive and it's very tough. we're waiting for someone like brooks koepka to go on a run

it's incredibly tough, but one thing that is for sure, out of the last six major titles that have been up for grabs, they've all been athletes. nike is still making apparel and they're doing very well for it. >> one of the big winners, nike. interesting there, adam. that is the latest in golf world. back with equities u.s. futures, coming off of a weak week for u.s. equities. all three indices ending in negative territory futures have turned into negative territory looking for a weaker open. i'm julianna tattlebalm. >> i'm willem marks. "worldwide exchange" coming up right about now. ♪

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