worse as the morning rolls on. half hour of the opening bell. s&p futures down by 22 nasdaq is off by 123 points right n right now. make sure you stay tune for "squawk on the street. we'll see you back here tomorrow ♪ good monday morning, welcome to "squawk on the street," i am carl quintanilla, with jim cramer and david faber is back it will be a busy week with retail earnings and fed minutes and sprint deal. europe is not liking the tone on trade. germany is down nearly 2% and the ten year yield our road map begins with trade fears, weighing on market

settlements. u. u.s./china talks remained stalls strict access to sparks of android and hardware services. >> nearing a deal. giving the green light as t-mobile and sprint stocks are moving as that deal looks more likely to get regulatory approval first up, stocks get for another lower open after negative week last week. google has pulled huawei's license, following the white house ban on tech sales the news about huawei taking a toll on chip stocks this morning. jim as we continue to watch the smh, right it is going to drive a lot of attention. >> if you want to sell these stocks, sell them. you can't come in on friday and recognize that our government has basically said you are not doing business with these guys

you just have to match it with everybody that does business with them. i find it so silly that people over the weekend when all that's happening over the weekend was still more negativity between our government and this time is google please recognize the risk. nobody is going to raise numbers or cut numbers every one of those companies you see, the numbers are too high. >> you are a hard sale on center stocks >> the ones that are really related. there are some that are not related and they're getting thrown out you look at qualcomm they're going to be an apple somehow it went to 86 or 87. now should it really be this high now, nvidia, they don't have much exposure at all i really get that. remember smh, advance micro, not much exposure.

what you have to do is think and i know it is real hard, i learned it out west where you can think more instead of shooting everything. we are in the etf market people say listen, i don't care about xilinx and what does it do i just posted what nvidia does if you want to go to my twitter account. that's how dumb people are i was amazed these stocks held up so well on friday given the fact that our president basically says we don't care about american companies we are teaching lessons. i want to say if i merely c can -- >> let's do it >> this is 5g. the country cares about 5g leads. >> there is connection between huawei and what's going on in terms of sprint and t-mobile reading this letter and finally from the fcc this morning in terms of detailing conditions

that they have agreed with sprint and t-mobile. it is all about 5g just reading from it by combining sprint and mid ban spectrum, the united states to lead the 5g era by not celebrating the deployment but also -- so they're talking about world leading nationwide 5g networks being uncontested keystone of this merger. we heard that from john ledger and sprint we heard him testify about that being the key thing. the fcc, the chair of the fcc is clearly a believer the key reason why they have agreed and they have not drafted the order yet.

that'll be a few more weeks then you got to get the commissioner to vote on it. you got the chair saying yes this morning and you got this detail filing here with various things they agreed to do in order to get approval. 5g is the key behind it. there is an absolute connection to what we are doing in terms of trying to prevent huawei from being a worldwide leader of 5g and the argument that sprint and t-mobile made to u.s. regulators about why they should be allowed to do their deal because they'll give the u.s. a leg up in 5g >> do we have a national policy? looks like we do >> we had not. we have seen to at least be focused on makiing sure the u.s is >> very smart of them on what they always knew we should point out quickly the doj is yet to be heard from. department of justice weighing in on the basic idea of a market

going from four players to three players and whether or not it will lesson competitions between those. there is reports from the journal that the staff at the doj intentionally opposed the deal i have spokpolken to him weeks . i can't remember the time when you see the fcc says yes to something and the doj saying no. there may be and some of my sources people out there in twitter may remember it. they do act in some sort of consort. >> it is rather amazing because the biggest worry when you speak is how do the chinese get such a head starter for us? >> i think whoever that's in the government, it can -- this is

separate totally from tariffs. it is a genuine belief that we can catch. remember what this is about. we thought it was about price competition domestically maybe our bill goes up it is not even an in equation. >> they're talking about increasing competitor pressure and they are saying some of the commitments are, they build a world leading 5g network rural americans receive robust broad band service so again wireless and broad band being competitors to cable is a key part of this all the things that of course t-mobile had been talking about is the benefit of the potential deal actually spend the money to be able to provide the service of being king they'll get rid of boost mobile and to incredible buyers who can

compete aggressively on a prepaid services they say these commitments will be committed and continuation of the voluntary obligation until unmet obligations are fulfilled. three years within the merger close. covering 90% of the country's population >> how about the other winner? >> 100 megabits. >> verizon and at&t seem to have found a "game of thrones" spot >> you think so? >> you can now raise prices between the three companies. one of the key is not raising prices when you offer 5g you are not a believer, right? >> no. you think it is going to be more

competition? >> john ledger is out. >> john is like, verizon is really running and at&t which had been such a -- nvidia is a good buy right here. 6.5% stocks that i dislike. >> at&t. we are done with concern of balance sheet and repayment and dividend so you think they'll be able to raise the price. >> you are not worried about the execution on time warner front or the ability to deliver perhaps -- >> they're not that good at their job. >> the fed no longer has an easy target >> we'll keep the prices down. they'll get it lower because they want to show. >> if you don't know what doj is doing if there are conditions

there. >> three years banned from raising prices, there. at&t at least does not have to deal with the price. david is actually implying that stevenson is not able uniquely, is he doing any program? does he have anything besides "game of thrones." >> no, it is not his area. >> they got a number of seasoned executives at at&t i think the concern of that company is the debt load everyone though th even though they covered their dividend there is concerns over the ability to grow overtime >> macy's, 6 opinion 7 and this is 6.4 i am beginning to put together a yield oriented not that much growth package it is going to be etf because there is not enough etfs

already. >> the team for the back hat is dividend growth. >> yeah, dividend growth right now and right here verizon is just roaring. david, good story. don't you feel more powerful that we'll be leader of 5g because we hamper huawei i like to call the chairman, listen i don't want apple in our country. something is going to happen >> a lot of discussion there are some pieces of the nikkei today that huawei stocked piles of a year's worth of supplies >> they are visionariers. >> it is only a handful of expert in t experts in the area.

>> only a handful of stocks. >> stop, don't >> reuters comment that is mike may roll back some of the restrictions on huawei, maybe for a period of 90 days. is that how it is working? >> it is not about keeping infrastructure off >> i think they're always holding out something that is not worthy the chinese are not planning for this >> whatever the chinese going to do in retaliation. it is not starbucks. it is not nike that's the chairman ministry of sports and nike, keeping whole country in shape. >> it has to be something. >> there is one stock. until they come out and say you know what, apple switzerland, david? >> apple is going to go down remember apple is 2 million

people working in nchina. it is the consumer base and double vulnerability >> i wonder whether samsung is many ways winner, they're trying to move pass nokia >> real quickly on a rap, coming back to your pricing argument as to why you say verizon and at&t. wireless consumers will pay less for 5g service and get further better service the time of close and three years, t-mobile will make the same or better rate plans. >> yeah. i want to point out that this is a redacted -- i don't know, i am going to get that republican

who's against the president. >> amash >> get him and see what he says. let's get him involved >> we'll talk to the ceo of harley-davidson right here at post 9 another look at the premarket, we'll watch apple closely. futures are weak, we'll be back in a minute. do any of you know captain snowball?

and here we go. [ "good to be alive" by andy grammer ] it's snowtime baby. [ screaming ] oh, snowball. uh, is he ok? not in any way no. take that ok. you were just beaten by a rabbit. you don't even know it. [ ding ] oh, my pizza rolls.

let's get to phil lebeau >> starting this week they'll be announcing and letting employees know, they're going to cut about 900 white collar jobs, salary jobs, 500 of those will be in the u.s. this is all part of eliminating about 20% of its management where salary work force by the end of august. that 7,000 jobs. most of that will happen in yurm

europe >> phil, look inniing through ts employee e-mail. annual saving is about $600 million >> yes, most of that will be coming from the restructuring which is most severe over in europe that's a business that's desperately needs to be reworked and that's what they are in the process of doing they are reworking the business here in the u.s. now it is the actual going through and actually making the job cuts and restructuring taken place. >> this is remarkable news in the sense that this company continues to shrink and go for profitability. phil, it does not sound like they want to be in every car/country. it seems they want to make everything profitable and if it is not profitable, it is out >> that's a huge change how ford is operated going all the way back to henry ford henry for's vision, he's famous

and he stayed famous by saying we want to take driving of our vehicles to all parts of the world. that was why ford was expanding globally listening before others they were resistance today to changing the approach and by eliminating cars and by focusing on of the profit drivers, pick up truck as and suvs this is the future of ford >> the family has never wanted this to be was that some sort of quick procoming in boy, was it ever bullish >> he has the backing of bill ford you could not do this if bill ford did not buy into it i think like anybody would love to live up with the tradition of henry ford at some point you realize the world changes and you have not

changed. >> phil, thank you for that. by the way, reuters with the headline spokesperson says of the 7,000 salary cut around the world and about 2300 are in the u.s. we'll get cramer's mad dash and we'll count down to the opening bell and one more look at the premarket here on this monday. busy week ahead. don't go anywhere. so servicenow put your workflows in the cloud, huh? mm-hm. your employees must love you. thank you. ah, you could say that. so how are things with you guys? great. thank you. thank you, sir.

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we get started with a new trading week at the nyc. >> first, thank you carl, i don't know if people understand how difficult it is to do cross-country. you guys made it easy and i thank you. i know it was very hard. >> it is always good to have you out there. i wish that we can all go out there. >> there is so much news going on, of course and important news out there. >> one of the companies out there, tesla >> everyone talks about tesla. is it really in trouble over and over again web bush says the clouds are getting darker, david. they're talking about the one thing you never want to hear demand maybe not so good for the three. not so good. they're talking about tesla facing a -- they're spending

money everywhere >> you got to spend money. >> micro management is the focus. so the overall, over riding bond trading down big he got a great price and i think if he can't tweet anymore things are better >> the stock is trading the lowest since december of 2016. >> wow >> not a lot of money made by the ron barrens. you said it is going to go to the moon i think that this is one, david, that tweeting war, it must be killing. he needs perhaps a synonym maybe that's the way he gets around someone has to stand up to web

bush, david. you can't let this go. there must be a response, a post even the dog recoils from this >> you love it >> i love him. >> ever since you call him simulation >> we got five minutes before we get started here at the new york stock exchange with a new trading week don't miss a minute of it. "squawk on t see irit ckhetrt"s gh heading into retirement you want to follow your passions

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talk to your advisor about brighthouse smartcare. brighthouse financial. build for what's ahead℠ live from the financial capitol of the world, opening bell in about two-minutes. we covered a lot already, t-mobile and sprint and cuts it will be a busy week on retail target and best buy and kohl's and others >> they don't want to have a sell on. he gets very smart they caught a 15% decline. i think these stocks are cheap

all that people are going to ask in the conference call is how much do you have china they all have china. home depot, you know what -- as a gardener, only yesterday yesterday was the first good day to garden. home depot needs a lot more than that that's hurting i think you may see and at least try to explain the weather february, a real disappointment of weather can't control it >> there is a line of thought that says where the housing prices come down to a certain extent the market is not great. >> if it happens, i am not going to rule it out i see stanley never going up because it is moving branches to

be named texas i don't think the idea is patriotic. i don't think it should be that exciting people go nuts for it. >> we'll talk to harley-davidson ceo. there is the opening bell and s&p 500. at the big board is chesapeake celebrating over 25 years and at the nasdaq is lakeland bancorp congratulations to the yield curve. >> that's true the all time high lately has been utility and defenses. pepsi and proctor. pepsico has held up really well. proctor seems to pick up everyday at 107. incredible >> do you think santoli, what

does he have to take out this morning what he called a risk-off rally can he do it again >> i don't like this term. some of these winr winners haven amazon facebook has been a big winner and i think you are losing some of the companies that don't do business in china that are going out that don't fit into this risk on and risk off i felt that's the clapper. clap, clap lights on and lights off it does not get you anywhere >> it is very much of a head front. >> it is more of a demo. >> the people at home always saying do i own something risky? i own verizon. you don't know and i like to speak in english english says there is some winners and losers don't throw away everything because that's what head winds

does they used these etfs and they taken away a lot of what individuals think. like for nvidia where i was out there and jensen wong, his frame is not contained by china or anything he's the smartest person in the world. >> given everything you saw and these business and incrementally, a.i., give me a quick take on what's your view is now as oppose to what it was two weeks ago. >> really good a.i. that jensen wong is developing you say to it get out of town. it is able to figure out that what he's really saying get out of town does not mean get out of town it is like wow that's interesting. the in verses, a.i. is not as smart as we are yet but it is

conversive i saw disney is the biggest winner here. pixar a fraction of what it costs. bob iger is a big beneficiary of this company we have a clip of who this guy is he's on another plain. >> you did have a long conversation with him about china. this is jim and jensen on friday >> you are trying to buy that company, it is fantastic, i worry that the chinese will block you. this is something that the stock was down i am starting to worry that you too will be caught up in something that's political you are not political. >> no, i think china is going to love it and we have been working with them for a long time. i love them, too when the opportunity to buy them came up, oh my gosh. it is jumping.

>> they're in the same box the edgecom computing box is mae up of nvidia jensen huang wants to bring the cost down. look maybe he's saying something that what they're watching and maybe we'll hurt vilinox if you listen to the call, they taken down and derisk the stock and it is a must-buy i think you can go under 150 but i think people have to recognize. you don't name your dog after a stock unless that stock is going higher jensen gave my dog an id tag

it is really pretty cool >> he goes right in. he designed the headquarters if you don't fall in love with jensen after three hours, you are a cynical son of a god, or a villain. he's good. >> we are going to get to sprint and t-mobile in a second back to huawei and it is interesting because theys are different sides i guess of the same story >> right, they are >> coming back to huawei trying to prevent their global dominance. to sprint and t-mobile, we support of what you have made in terms of commitment and rolling out 5g for the company back to the supplier situation.

>> xilinx, is that it? >> they're not done. they have not cut their numbers yet. >> xilinx have not cut numbers xilinx has been the 5g platform. they are so close to the chinese government and you have to believe that analysts have just started cutting in you remembnu. look at micron this stock is going from 43 to 34 and 35. it is all the way back to where it started it is incredibly cheap. i had kelly cramer on last week and she's a fabulous cfo of cisco. give me a break. go out and cut numbers where are these analysts are they at the beach? could they already be? >> it is possible. >> are they in the hamptons already? >> semiconductor sales are

declining at the fastest pace since the crisis texans breaking a hundred in december micron semis at three times earnings obviously micron is a good balance sheet. i just can't believe these analysts in the fox hole refusing to come out because it is not stopping >> right >> if you own those stocks, you better be conditioned and strap yourself to the mask because here comes cersei. >> we do have tesla with a one handle we have not seen that since december '16 the stock in december was 377 and it is now as someone pointed out,less than half of the 420 funding security >> wow

420. >> i am following cannabis >> yes, i know you have. >> david, it is okay sometimes i get jammed up. the wife calls me and you got to come right back or you -- you and i will talk. >> i think that tesla is monumental because we have had so many battles on this network, it is going to be decided by the bond which are down a lot. we need to see and we saw big bold exit, we need to see some of these people that said to go to a thousand. they have been like the republican party with the president and reluctant. i don't think they'll be deterred by this elon really got hurt by the fcc in retrospect.

he can't do it >> not now bush did say code red. they were at 365 last month and now at 230 >> david, are you still jamming? >> no, i am ready to go. i want to talk sprint/t-mobile verizon and at&t are both having extraordinary strong days. >> higher prices are fantastic for companies. you got to go over the stock of verizon. >> a three-year after close commitment >> the chinese regards three years as being nothing we are adopting the chinese view of the 500 views policy. >> this is going up big. >> the story -- i want to get to some potential important news here the fcc is going to move to approve the purchase of sprint

by t-mobile with conditions. those conditions being this commitment, the building of 5g network with various parameters built around that in terms of servicing rural americans and much of the country within a certain time frame a commitment to that high speed as i said 5g rural america a prepaid service to a buyer that's viable buyer, keep it in business for quite some time as we reference pricing commitment as well from the company. there it is. we'll look at some of the key commitments that the chair of the fcc would say i am in favor. this is a good deal for the u.s. it will advance our ability to deliver 5g services to much of the country and relatively a short amount of time he's in favor of it. he went onto say the applicants submitted a firm commitment that

new t-mobile will make the same or better rate plans that's offered by t-mobile for three years following the merger and went onto say this commitment not only ensure prices can't go up but 5g goes into no extra cost >> there it is, it is big. >> brand mnew car, huh >> the department of justice still mays an important role here as we know. let's not forget the department of justice has different statutory mandates than the fcc in terms of how they review a deal i didn't want to share a person familiar with the doj process tells me the following that these conditions agreed by the fcc may not necessarily solve

any antitrust concerns over the deal that's somebody familiar with the process of the doj, telling me these conditions -- we had this written out for people, may not necessarily solve antitrust concerns of the deal >> oh, it is in the ban. >> are they worried about consumers? >> i can't recall a time when we have not seen these two and these operate to some extent in concert. >> david >> you can see print stock spri coming down a bit. there is different statutory mandate. these conditions agree to by the fcc again may not necessarily have to solve any antitrust concerns >> i think the fcc is gunshot. they held up a safe way decision

where in both cases they left a weak player. one of them is folded. i am concerned of writing, how much of this that sprint may not be able to make it it got so much debt. >> that's always a question, right? soft bank has made it clear to some extent that if this in fact were to go south on them that they have a way to segregate that sprint debt it would not be soft bank debt and there had been questions of the liability of sprint. it would not be existence to do to roll out 5g network the deal itself and the way presented to regulators by t-mobile, they led with 5g and clearly reflected to a large extent of what we saw today and they led with their ability to be the leader in 5g. >> incredible.

>> to pressure verizon and at&t and deliver as a result as a spectrum of position low band and mid band to rural americans and urban americans of the 5g profit that's exceeding to other providers that's the key we do want to point out doj looks at things differently in terms of what its mandates are >> if there is a deal, it is going higher john ledger is on fire really the winner. >> i think he's the winner >> either way. >> sprint goes under and t-mobile wins because he's taking so much shares from verizon and at&t they got the deal and he's got 5g i can't believe how amazing it is >> it is very patient. >> timing here is important. the conditions that we read

about today and you got a draft order and fcc votes on them. we are still waiting for the doj. >> to your point, jim, sounds like the era of wireless service is over. >> for the next three years you will get it. yeah, these guys all have been going at it. i think unless something happens with your phone, new technology and somebody moves in. i think that your comcast moves in replay -- you have how many players? you are going to go down that's another question. comcast and charter and dish ar down as well the idea of being a true competitors and offering wireless and high speed into the home much higher than what you are getting right now and broad band product brought to you via wireless their able to do that is seen as

a competitor >> we got to stay on this. this is the biggest story out there. if they get this and the 5g spin, what the president wants is you spend 5g do well here and 5g do bad there. we'll get some money our company will get some money. they'll spend. i don't know how long it is going to take sprint >> you go back 18 months, people are really thinking no way they'll never do this. >> it is always a question and it remains a question, folks familiar with the doj process about competition. >> we'll see what happens. >> i complimented you. >> thank you, jim. >> we cut our losses almost in half, at least initially here. let's get to the bond pit with

rick santelli at the cme group good morning, rick >> good morning carl, it seems to be a common reframe we come in equities lately under pressure, they seem to do better whether they get in positive territory or not they have definitely been fighting that fighting does not translate into the fixed income markets paying attention treasury on the long end has been rather lazy did you see one week of tens, mostly sideways. look at where we are moving sideways opening the chart up to mid march. we are hovering at the lowest yield close of the year. you can see march settling at 237 in tens. we have been knocking on the door and violated today but not on a closing bases now it does no mean we can't see a sell-off in higher rates and stocks getting more vibrant and energized and that'll be something that we'll translate in the transmission, we'll move

into the fixed income markets. it is a global issue as well we'll see lazy sovereign across the globe. japanese economy, gdp was better than expected and many things regarding to european autos and japanese autos and the tariff issues that'll spring to life, we have to monitor the foreign exchange side, dollar index is down look at the one-week chart, we are flirting with the 98 level again. carl, david, jim, back to you. >> thank you very much he has something in common with speaker boehner, we'll talk to tom daschle of his cannabis investing. dow is down 112. interesting start of the week

with verizon down at 3 and apple. we'll be back in a minute. to a single defining moment...

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a lot of the selling this morning focused on the nasdaq 100 where there are about 4 or 5 components in the green. we're going to get stock trading with jim in a moment dow down 145 i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪

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time for jim and stock trading. >> we often talk about brexit in europe i think we should be talking about deutsche bank. ubs from hold to sell. doesn't say -- they have no optionality, it says when you look at the trend in the stock, it has not been a good stock kind of funny. little irony but it is inexpensive if revenue stabilized and recovered i don't think they're going to and i would -- head winds, we have to watch this, because if they don't find a merger partner, this is something we'll wake up one day, i believe, and say, holy cow, why weren't we thinking about what was once the largest bank and safest bank in europe so they have assets they could sell, but deutsche bank was -- and now it is -- i think we need to focus on this, it should be much more of something that we talk about every day i am really going to bear down

on it. that decline that you saw, that is -- that is something that the government may have to get involved in. not our government. >> gotten a little lazy in terms of watching it break nine and eight. >> this thing is breaking down like they broke down here in 2008 >> that is tonight on "mad"? >> i've got take two a lot of people truly love this company. and i think that when people sit down with strauss, they realize he's got the best games in terms of chips that i saw. he's revered in the valley, people who understand how to use the new chips. what is that smile >> jim, we'll see you tonight. "mad money" 6:00 p.m when we come back, an exclusive with harley's ceo. dow down 92.

♪ good monday morning. welcome back to "squawk on the street." i'm carl quintanilla with sara eisen and david faber. some erratic behavior at the open the downside, dow is down 80

we lost 15 on the s&p as we're watching trade, tesla, ford and more. >> road map for the hour does start with markets lower this morning. trucking off some rhetoric from the president, what matters most for stock investors now. we'll discuss. >> backing the t-mobile sprint merger, the green light, the next hurdle is the doj david has details. >> billionaire investor giving one graduating class a surprise of a lifetime. we're going to bring you that uplifting story. >> straight to the markets this morning. we're in the red, but the s&p is only about 3% from the recent all time high. can wall street's risk off rally last mike santoli is here with us at post nine to expand on something he's written today. >> even with this good bounce last week we got off monday's lows, even before we got this latest jolt from the escalation of the trade war rhetoric, it was mostly a defensive stock led rally. essentially we had a resilient market, less than 4% from the high in the s&p, but built on a

fragile premise in terms of macro implications very defensive stocks, low yields supporting valuations, basically speaking to expectations of a rate cut, which would require softer economic numbers to come true. and the bounce last week was certainly well timed and happened at a place where the market probably could have gotten out of hand to the downside and didn't, but was relatively unimpressive. narrow breadth and still seems to some degree to be resembling the 2016 experience, early 2016, very climactic bear market volume, and brexit happened, this macro shock, caused a test of the rally, caused some real negative sentiment, starting to get more skepticism in the market right now and then what did you do low yield supporting a recovery and upward grind, but without a lot of enthusiasm behind it. either for the strength of the economy, or for the kinds of stocks that it would lead. that's the setup we have now it is why a lot of people are watching the behavior of the markets

themselveses, overnight weakness and rally attempt, it seems like global pressures, but yet a u.s. dip buying instinct at least until today, the big growth stocks and defensive stocks. we have a chart of low volatility stocks and utilities supporting the entire market more or less that, to me, is a little bit of the tenuous nature of what is going on. >> a lot of technicians say we defended 2800. can you count on 90% down days for anything more than a tactical bullish call? short-term >> that's the big question i think that's why it is a little bit pins and needles now because we're in this sort of catalyst free zone now, through the earningin inings report, wee looking weeks to the fed meeting, weeks to the g-20. >> last of the quarter is the g-20 meeting. >> for that reason, i think the technicals and how the market digests all this has come to the fore by the way, we bounced off the open again we'll see if that -- >> i do think that investors are

sort of struggling with recalibrating the time horizon for this u.s./china trade fight. it is one thing for the president to use tariffs as a negotiating chip, it is another when he spoke to fox news last night and told them that he's trying to keep china from taking over the global economy and becoming number one. something he said which would have happened if hillary clinton were president at the same time, china showing korean war movies, and stoking this anti-american sentiment, and this all feels like everybody is just digging in for prolonged fight, that's about way more than just opening up free trade between the two countries. >> if it is a structural disengagement and everyone talking about shared sacrifice, it is a different story than you thought coming in, which four months into the year, you can explain the market to yourself by saying, oh, these fears of the fourth quarter went away no recession, earnings better than expected, fed is more patient, and we're going to get a trade war. that has gone away the rest of it hasn't quite disappeared just yet i do think, to go back to my

brexit analogy, u.s. china trade and economic relationships are more important than brexit if you were waiting around three years ago for brexit to be resolved before the markets figured things out, you were still waiting. >> what is to keep managers from saying fed meetings, middle of june, g-20, the end of june, why not lock in the gains we have so far this year? >> i think that instinct is out there. you're seeing the sentiment surveys cooling. that in itself is its own solution basically people pull back, bad news has lesser ability to really knock the market down and that's why i think you are seeing just exactly how the index metabolized all this. >> thanks, mike. see you later. speaking of the trade fight, the president tweeting about it over the weekend as one of his deputies here is a plea for restraint from a top chinese official and the u.s. china divide deepening in the tech world, tech firms beginning to cut off huawei

supplies kayla tausche joins us from washington with an update on this tense relationship. good morning, kayla. >> protracted is the word you used the rift between the u.s. and china is widening to include other geopolitical issues like iran, taiwan and the u.s. warships sailing near disputed territory. all subjects of discussion between the secretary of state mike pompeo and china's foreign minister during a phone call over the weekend now google will suspend android business that requires technology to be transferred it is a blow to huawei's new devices coming to the market but the company is getting a small lifeline from the u.s. the commerce department may allow some huawei equipment to be purchased to avoid disrupting rural networks in places like

wyoming and oregon that already have orders out there. beijing is warning the u.s. not to further harm its interests, though president trump in tweets in an interview last night continues to knock china for what he calls breaking the deal. the foreign ministry spokesman in china today said we don't know what this agreement is the u.s. is talking about. perhaps the united states has an agreement they all along had, extravagant expectations for, but it is certainly not a so-called agreement that china agreed to. china reinforcing its nationalistic positions through the media over the weekend, airing three anti-american movies in primetime to reflect the era of our times, according to chinese media guys >> kayla, are there talks still ongoing? >> that is currently the official line of the u.s. a few days ago said that the lines of dialogue remain open, china has said it prefers to resolve these disputes through direct talks.

but so far as we know, there are no new negotiations planned. and at least china media is reporting that there are no plans for any in the future as far as they know we'll see. >> thank you president trump's tariff war with china having a big impact on the markets former federal reserve vice chair alan blinder warning in a recent op-ed, tax cuts and deregulation are juicing gdp we'll pay the price for the presidency in other ways alan blinder joins us now. how much is this trade fight, alan, the other ways that you're referencing about how we're going to pay >> so far not too much but obviously as you were just saying has the potential to get much wider and what i've always feared from the beginning, if things got bad, was exploding outside of the pure trade realm. because after all, we're buying from china vastly more than they're buying from us

so if it is tit for tat, on tariffs, china has to lose more than we lose. but there are other problem areas as we just mentioned >> like what what is the worst case scenario? >> like foreign affairs, you mentioned the south china sea, not sure north vietnam, we could use their help intervening to calm down or make an agreement with -- sorry, not north vietnam, sorry, north korea. and a variety of other places where there could be more good with cooperation instead of adversarial relationship i fear that's where this would go if it got really bad, if it wasn't resolved. >> supporters of the administration's policy toward china on both, by the way, the right and the left, would argue, listen, we have done nothing for

too long we watched the manufacturing base in the u.s. be hollowed out as far as empty promises that they did not fulfill we have to really draw a line as difficult as it may be in as much damage as it may do because to continue down this road, only means economic despair >> there is truth to that. i wouldn't want to exaggerate, but there is truth to that we miss the best chance to do something about it not for -- we can go back. we miss the best chance by pulling out of the tpp the tpp with all these countries in including us if it happened and china on the outside was going to give us a tremendous amount of leverage to get china to behave better on intellectual property and a variety of other things that's where the focus needs to be >> how bad do you think it has to get before we see a response from the fed >> much worse than it looks now. the economy is great one of the points of the wall

street journal piece that you mentioned. this is a very strong economy. the inflation rate is going nowhere. the jobs are appearing in numbers that almost nobody expected if you're at the fed now, you're happy as a clam, basically and why would you want to rock the boat unless things get worse, even on the inflation front or the gdp growth front >> alan, in recent weeks, and days, the president has said that -- how great it would be for the fed to make a match against chinese stimulus he said with a little qe we could be running 5% gdp. does any of that get metabolized by the fed itself and in some way influence their thinking >> i hope and i believe that nobody on the fed is thinking that a little qe could juice the growth rate to 5%. that's a fantastic claim -- it

was never -- nothing like that was ever claimed by ben bernanke when this started or janet yellen after that or jerome powell now the fed was put in qe as a kind of the dutch boy inthe dam put in the thumb, things were deteriorating terribly the interest rate is almost zero what are we going to do now. so they did this qe, was an appropriate thing to do, but i don't think anybody should exaggerate the affect that had on gdp certainly measuring growth effects in the tenths of a percent, not in the percents >> so, you referenced the fact that we're going through a pretty good economy. a lot of traders out there, we ask them why the economy is not down more as a result of the trade tensions say because we're still the goldilocks scenario, low inflation, better growth, better jobs, fed on hold, you know, it is all a very good scenario for risk assets to

rally. how much longer can that last? >> i wish i knew the answer to that i think it will last a while longer, if you asked me this question two years ago, will this last another two years, i think i would have been skeptical. we have done better than almost anybody thought. the only thing i can say about that is that unless the trade war really explodes into something horrific, worse than almost anybody expects, i don't see the seeds of the destruction of this recovery being sewn now. it looks like it can go for a while. >> yeah, for two years we had guests come on the show and say, like you suggest, we do expect a deal because it is in both sides common interests now the argument is we -- among some we do not expect a deal because it is in both sides common interest not to have one. >> well, i don't agree with that i think it is in both sides' interest not to have one, but i'm not sure the president of the united states believes that.

>> but, you know, in recent days we had companies seemingly make a point of saying we're not going to be hurt that badly, whether walmart, cisco, companies we might have thought would have suffered. what is your overall view in terms of the hit that global economic growth is going to take as a result of let's assume this goes on for another six months. >> i think it is likely to be modest and probably bigger in some tertiary countries than it is in the united states. you want to remember that american companies' sales to china are about roughly 1% of gdp, our purchases from china are about 3% of gdp. now, if we're in that 1%, like you're selling soybeans, or you're in that 3%, walmart and b buying a lot of stuff to keep prices low in your stores, you're going to feel the pinch it is going to hurt. it is not going to be good but just keep in mind 3% and 1%,

it is not 20% or 30% >> alan blinder, always good to talk to you. thank you. >> pleasure. >> former number two at the fed. >> when we come back, the chairman of the fcc recommending approval for the t-mobile sprint deal david will break down the hurdles that remain. plus, public problems, uber and lyft are down this morning we're going to tell you what's weighing on those stocks and what it is signalling to private companies that are still looking to go public do not miss former senate majority leader tom daschle today about his foray into cannabis investing dow session low is down 203. we he t avcuthat in half don't go away. you never know what life is going to throw at you.

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it's like we're his parents. it's like you're the dad and i'm the mom and we're in a relationship. and this is our baby. [ laughing ] well... it's exactly like that! exactly! be the first to discover the secrets. at the fandango early access showing may 25th. big news involving t-mobile's attempts to acquire sprint and the approvals the regulatory approvals are the fcc, the federal telecommunications equipment and the department of justice. the fcc this morning weighed in and it did so in a very positive way for the prospects for this deal with a filing, not yet a draft order, but that is expected in the near term and then to be voted on by the fcc, but a filing this morning indicating the commitments that are being made by t-mobile and sprint to gain fcc approval. and the chairman of the fcc saying, yeah, i'm in

commitments, building a 5g network, especially rural america as well. so making sure that it is not just the urban areas where you can potentially make a lot more money, but also rural america that is served well, the ability to get 5g and the speeds that it would bring both outside the home, but even perhaps as importantly within the home as well also, they will divest boost mobile and the prepaid service to a viable buyer. and a pricing commitment this is important. and this kind of plays into the doj side of things which i'll get into in a moment but here is the quotes from the filing this morning from the fcc. the applicant submitted a firm commitment that new t-mobile will make available the same or better rate plans offered by t-mobile or sprint as of today's date for three years following the merger this not only ensures prices can't go up but that 5g comes at no extra cost in contrast to surcharges imposed by verizon

and planned by at&t. both at&t and verizon having very strong days, off their highs, which had been up -- both up as much as 3% but still both stocks up well over 2% this morning potentially on the idea that, well, you have three competitors and three-year pricing guarantee after that, we'll see. sprint, of course, is the biggest beneficiary so far wanted to get to aji pai's statement, he and another commissioner signed on, making this a fait accompli that's what the fcc looks at and intends to recommend my colleagues, the fcc approve it this is a unique opportunity to speed up the deployment of 5g throughout the u.s. and bring faster mobile broadband to rural americans. we should seize this opportunity. on to the doj. and what i shared in the last

hour a source familiar with the doj process process tells me the following, the department of justice has a different statutory mandate and these conditions may not necessarily solve any antitrust concerns of the deal doesn't mean they won't, doesn't mean they won't. i am hard pressed to find a time when we have seen the fcc and the doj differ so significantly that they view a deal differently of this size and magnitude, but they do at least hold out the prospect that, hey, listen, the doj is operating with a different mandate, and, again, doesn't necessarily mean that the fcc's role has solved any antitrust concerns held by doj. we'll have to wait sprint stock did come off once we reported that, about 4%, 5% from the times >> wonder if there is any holistic take from the administration going after huawei, facing criticism now that this could slow down the building out of infrastructure of 5g in this country.

go ahead on this merger, right, would be about some of the prospects and capabilities >> they're absolutely related to the extent you want to try to cut back huawei's ability to dominate globally, this is a very important technology and enhance the u.s. and, by the way, smartly, of course, management and t-mobile and sprint made this the key theme in their presentations to the fcc, to the doj, to congress in terms of the ability of the two companies together, both with their spectrum position and their capital structure to be able to spend the requisite amounts to make 5g a reality around the country they do have the commitment to cover most of the country with 5g >> yeah, depending on midband, low band, 99%. >> 99% >> fascinating >> shares of uber and lyft extending losses today journal says uber's ipo was undermined by early big investor like black ross and tiger which took a pass on buying more shares in the offer.

instead they tried to sell stock before or as part of the ipo as for lyft, the company is being sued by a group of investors over its ipo the suit claims that lyft misled investors about its market position and labor matters leslie picker is with us to break down the issue oz on these newly public companies that they're facing this news does not stop. >> it does not stop. and one would expect that this stock prices for these two companies will continue to react to the news as it trickles out in terms of the investor and derailing the uber ipo, it is difficult to see how two investors could kind of single-handedly have an impact on an ipo. i would say the key takeaway from that reporting, from that story is this idea that as unicorns continue to take mutual fund money privately, preipo, they're going to continue to run into these issues where when it comes time to sell billions of dollars worth of stock in an ipo, a typical resource for doing so is going to already be tapped out because they already

have gotten too much economic exposure in the private markets, they're not going to potentially be as willing to build up that economic exposure in the public markets as well. interestingly too, with lyft's lawsuit that was recently filed, that was by -- it was a class action lawsuit by -- led by one investor who actually only purchased about $3600 worth of lyft stock but it is common to see in these ipos that when the share price declines, especially right out of the gate or a couple of days later in the case of lyft, that you will see -- you will tend to see a lot of lawsuits circulating in terms of, you know, going after these companies and trying to recoup some of their losses you may have gotten by investing in the ipo. >> are there systemic lessons here are both these stories so hyperspecific? gli think the >> in terms of uber you have to be careful if you're a company

raising money privately and go to the t. rowe's, black rocks, wellington of the world, which has become ever more common as companies stay private longer, you have to think carefully about whether you want to tack that resource for money or go to other traditional kind of venture capital or late stage private sources of money because that way you were reserving those sources of capital for potential ipo if that's the route you want to get to this is a key lesson for unicorns as they go about raising money private ly that that i may not be able to go back to the same wells and help support that stock post ipo. >> leslie, thank you as we do a quick break here, check on shares of tesla, falling on an analyst note out of wed bush. he's expressing concern about demand for tesla's model 3 in the u.s. market, called it a code red situation take a look at shares of ford.

announcing it is cutting 7,000 jobs by august, including 900 this week. stock is down a quarter of a percent. later, don't miss the ceo of harley-davidson. more "squawk on the street" when we ce ghba omrit ck

now for our etf spotlight to dom chu, looking at the chip stocks getting hammered again. >> the computer chip stocks are some of the hardest hit ones in today's trading, much having to do with the decision by the trump administration to limit the a business u.s. companies can do with chinese telecom giant huawei now, alphabet's google unit is the big issue with regard to business activities. it is suspending a lot in order to comply with the order a bloomberg report saying the computer chipmakers part of huawei's supply chain, they're suspending sales to huawei until further notice those stocks are among some of

the largest chip stocks taking a big hit in today's trading if you look at some of those, this is having a huge impact, ripple effect across the entire etf space with every member of the fund, smh, it is down on the day. every one of them, 25 of those stocks, the moves today means chip stocks, the etf has fallen by 15% since a recent high that we saw back on april 24th. now it is just a little bit above its 200 day moving average or longer term trend line, according to analysts at evercore, isi bay buys up to $2 billion of semiconductors each year a big move, 15% just since april 24th, the reason why a lot of folks are watching that semiconductor space. back over to you. >> first thing we check in the morning, increasingly. thanks when we come back, a growth in the cannabis industry as more states look toward a path to legalization and decriminalization.

tom daschle is with us to explain how he's getting in on some of that definitely bought the open, down 203, now down 34 on the dow. s&p down 9 [ alarm beeping ] wake up! there's a lot that needs to get done today. small things. big things. too hard to do alone things. day after day, you need to get it all done.

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good morning, everybody. i'm sue herera here is your cnbc news update at this hour. iranian foreign minister zarif accusing president trump of genocidal taunts trump warning tehran never to threaten the u.s. again. the u.s. navy releasing video showing the uss abraham lincoln carrier strike group and an amphibious ready group performing joint exercises over the weekend over the arabian

sea. iran described it as psychological warfare. jacob zuma is in court fa facing charges of corruption money laundering and racketeering zuma was south africa's president from 200 and here at home, some dramatic video showing a tornado touching down in mineola, kansas a car approached the twister as it began to whip across the field. the storm sweeps on by, causing heavy winds and debris to pound that car the driver miraculously escaped harm forecasters are calling for more storms a bit later today in that same area. you're up to date. that's the news update this hour back downtown to you, carl >> sue, thank you very much. as the cannabis industry continues to grow, and more states look toward a path to legalization, a number of former lawmakers are making their way into the industry.

the latest joining the advisory board of cannabis investment firm northern star is former senate majority leader, former south dakota senator tom daschle, he joins us here on set along with northern swan ceo carl detweiler is there something about working in congress that leads you to this space >> i think just the enormous promise that the plant provides medically. there is just an explosion of interest and real curiosity about all of the applications around health care, just never existed before >> you have said during your time, it was thought of as a recreational drug, period. >> that's right. >> the medical promise has come since you left. >> no question even fda recognizes now for epilepsy what value it can bring. there are a lot of other areas as well, we know that for pain management, especially, the real opportunities here to explore the promise. >> so how did this connection begin with -- >> i met the senator in high

school, believe it or not. >> high school >> in high school. we reconnected about a year ago, and as northern swan is building this platform, the senator recognized the value of working with the federally legal cannabis operation, and that's how it started >> what exactly do you do? >> we are fully federally compliant in all the injuring e jurisdictions in which we operate. we grow at about 10% of the cost of our canadian competition. we have about 400 some employees down there, our capacity is g w growing at 95,000 square feet of cultivation, making us larger than tilray. couple more competitors on the list to go we have early stage operations in southern europe and in asia and toronto. >> you're planning on releasing your first branded products i guess later this year. including a premium cbd brand.

what are some gaps you see that consumers want that they aren't getting? >> i would say the cbd products available in europe where we intend to sell are in the stone age. doing very simple things like making a spray bottle that isn't leaky and messy for consumers is a good example of that clear transparent packaging that indicates the amount of content in that cbd product is something we're striving for. >> where are we in terms of legalization across this country? we're in the state of new york, an expectation it would be more lenient than it has ended up being in terms of how it treats cannabis. >> it is the wild west now that's why we feel the need to remove cannabis from schedule one and create a real regulatory regiment, infrastructure that allows everybody to understand just what the parameters are with a lot more reliance on compliance than we have today. >> what do you think mcconnell's view overall is on recreational

legalization if that were to become -- >> i don't think we're going to see any real change in recreational issues for a while. i think the real focus is on medical side there is so much potential here. we don't unleash that medical potential until we create an infrastructure regulatorily that accommodates it. >> we know what cannabis has done you mentioned europe and asia. does the regulatory path look much different than it does here in north america >> i think so. europe will evolve like the united states, each country will have its own set of regulations, european union rules won't be the only step, so i think we're going to see countries in which it is easier to operate. we're really focused on the german medical market today. the uk, maybe france, portugal, those are good destination markets. >> how are you in terms of use of capital a lot of investors focused on this my expectation would be you have the opportunity to avail yourself of some of the funds. do you need more money, though in. >> we finished $58 million raise

let by leading institutional investors in the sector with a track record in the cannabis industry i think we're good for now we do have eyes on much bigger platform, so, you know, we intend to list in the united states later this year, possibly early next in which case we raise more capital >> senator, i'm curious about your thoughts on your party right now and where you think they're going into the election. what are we at 22 candidates now? >> 22 and counting >> 23. >> 23. >> i think actually it is a good thing. like to see the new ideas. the whole opportunity for new energy and new players i've already indicated my support for joe biden. i think he would be a terrific -- >> he's not a new player. >> he's not a new player he brings a wealth of experience i think we're looking for more experience >> should we include a platform that says legalized marijuana ais kro t across the country let's take it off the schedule one format and really provide a

regulatory framework that allows us to explore the real potential medically. that's where we ought to start >> finally, to sarah's question about the times we're in, south dakota farmers how do they get through this trade skirmish? >> it is tough i talked to a lot of farmers and ranchers out there this is as difficult as it has been maybe 25 years. really hurting out there trade is killing them. we have to bounce back hopefully get some relief sometime soon. it is -- this is really a very tough time. >> is federal aid near term? >> i think it is a poor band-aid we need a better trading environment. we're so export driven it is critical we get that market back. >> fascinating look at the space here maybe we'll see you back at this desk by the end of the year. we'll see. >> thanks very much. >> speaking of farmers, shipping has ground to a halt on the mississippi river due to historic spring flooding, really is a double hit for farmers

caught in this trade war as we were talking about, now sitting on soybeans without a way to get them down river. our contessa brewer joins us from rock island, illinois, with more on that story good morning >> reporter: i want to show you how high the water level is here on the mississippi river normally it would be six or seven feet lower and as you can see, it is almost up to the sidewalk where i'm standing this has receded in recent days, the really bad news for barges here is they were hoping to have commercial traffic up and running again on the mississippi river. the spring storms, the rapid snow melt, the forecast, all means the barges can't get through. they have locks shut down at this point some of the water is in fact so high that the river craft can't get underneath some of these bridges. it is a real problem along the mississippi river. normally this shipping season starts in late spring. the locks close down around, oh, december or so this spring they weren't able to

reopen and it is planting time for the farmers in the north they're not able to get big shipments of fertilizer up through the south, and then the farmers in the north who have been sitting on, say, soy beans, hoping they would have a more equitable trading environment now can't get their soybeans down to new orleans for overseas shipping >> it certainly is going to have an impact for tight margin industry like agriculture. we don't have this unlimited ability to absorb additional costs on to our whole transaction. >> reporter: the mississippi river is a crucial route for shipping petroleum, grains, aluminum, alcoa is not far from here so the fact that parts of the mississippi are shut down now with no detours available has just ground the commercial traffic to a halt. so you say why not choose another method of shipping after all, they're tractor trailer trucks, trains, look how much can fit on a barge, versus

a train, versus how many trucks it would take to haul the same amount and listen, that quadruples in some cases the cost of shipping. by the way, more bad news here, one of the local meteorologists is saying his model shows the forecast, one forecast for four additional inches of rain, they're considering whether to move back in these massive flood protection barriers once again and it looks like these locks are going to be closed for the next few weeks sara, carl >> that's the last thing those farmers need right now, given what soybean prices have done, incredible look at their challenges thank you. contessa brewer. when we come back, one billionaire giving students a surprise of a lifetime we'll tell you who and how plus, did you take off work after "the game of thrones" f l finale you may not have been alone. we have stats that will shock you. dow down 27. apple down almost 3% one-millionth order. millionth order.

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welcome back welcome back i'm sorry. i'd like to welcome my guest doug holtz aiken thank you for joining me today. >> my pleasure >> all right let's get right into it. i think phrase one was definitely kind of a trade skirmish it seemed to be moving towards phase two more of an economic war. i'm not saying that's going to be any more dire as a matter of fact, i think diversification of production lines and spli lines supply chains is under way and i think that's going to pre

gre progress your thoughts? >> i think it is a mixed blessing if you start moving facilities from china to vietnam or some other location, that has some costs. instead of spending money to grow, we're spending money to reproduce the same thing in a new location, and that's the downside to this one of upsides i think the reports that the u.s. is talking with japan and europe about a coordinated effort to rewrite the rules on state subsidies, wto, get that off the table for china, i think that's a fantastic step forward we want a united front on this trade/economic skirmish and we're starting to see that. >> doug, it is funny that you basically say isolate china. many have said it was a big mistake for the u.s. not to join tpp for the same reasons but i would say that bilateral agreements have a certain flair that donald trump likes, and they may be better for a country like the u.s

your thought >> i think bilateral agreements are something the president -- he's made that very clear. it does give him the ability to use the access to u.s. market as a big piece of leverage. i understand that argument i think it works with almost everybody but china. i have never thought that it would be possible for china to visibly lose in any deep sense and come to an agreement so i always thought it would be hard to get them to the table, hard toget a deal proven to be that way with china, you need more partners thafrmt sta s partners they're starting to do that. >> i look at the equity markets and think, okay, we had the indices, all but the dow, made all time highs they didn't go through with a lot of intensity if we continue to linger in the current condition without solving this and it does more for something -- something more long lasting, can the u.s. economy continue to chug along, maybe not extend but still stay

in the same parameters with regard to the range of investment capital, and the return >> i think the wild card here has been the household sector. i really expected the household sector to continue quite strongly through 2019. tremendous job creation, wages are growing, extremely low unemployment rates, that's all recipe for strong household sector and we have seen some surprisingly weak reports in the early part of 2019 there is no reason why we can't continue to grow in the mid2% year after year. >> excellent doug, thank you for joining me today. david faber, back to you >> thank you, mr. santelli over to morgan brennan, a look at what's coming up on "squawk alley". >> we have a lot coming up exclusively joining us, one of the oldest most iconic american manufacturers, harley david son, ceo and spread matt levatich will join us here at post nine

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welcome back to "squawk on the street". they're well off their worst levels the u.s. crackdown on huawei and weighing on the major averages as well. now, if you take a look, let's drill down on one of those relative outperforming groups today, the financial stocks. that sector has been under pressure this month as escalating trade tensions and a drop in bond yields revive some worries over u.s. economic growth if you look at a different story, as the regional banks lead the charge you have bb&t, pnc regions up about a percent or so so watch those regional banks. i will send it back downtown to you. sara at the exchange. >> thank you one commencement address given over the weekend grabbing our attention. billionaire investor robert f.

smith, the focus on buying and selling software firms, just gave morehouse college graduating class the surprise gift of their lifetime watch. >> on behalf of the eight generations of my family who have been in this country, we're going to put a little fuel in your bus now, i've got the alumni over there and this is a challenge to you, alumni. this is my class, 2019 [ cheers ] and my family is making a grant to eliminate their student loans. [ cheers ] >> smith actually erasing student loan debt for the nearly 400 graduates, the value of his donation estimated to be worth up to $40 million. obviously stands out at a time when politically this is sort of a hot button issue with a lot of

democrats like bernie sanders and kamala harris all jumping on the student debt issue very innovative and generous from one billionaire. >> hobbles their ability to potentially do other things. he pointed out perhaps some will become teachers who wanted to but couldn't because unfortunately teachers are not well remunerated. >> 396 students that would put the average debt into the 30 to 40k range. hard to get out of school with >> he himself applied for a internship at bell labs and told he was too young called every monday. finally got the position, went to cornell engineering masters from columbia. now, one of the most wealthy african-americans in this country. >> yep, private equity will do you well and vision that is very

active in technology it is a name we do discuss occasionally. no spoilers here for "game of thrones." we're waiting ratings numbers for the finale sometime in the next hour. but here are some surprising stats. a new poll by the workforce institute at cronos finds 10.7 million will not come to work today another nearly 3 million expected to arrive late to work and another 3.5 million admit they've arranged to work remotely although a different story overseas we're always trying to find a market angle hbo confirming to "the journal." china restricted them to airing it due to the trade dispute and reached out to ten cent and hbo for comment but after eight easts, 73 episodes and last week's rating, 18.4 million across all platforms, it's awfully hard to get a number like that in this fractured media environment. >> i mean it's going to be hard to get another hit, sorry, no spoilers i was disappointed i stood up for them the entire

season i liked the fight with the night king last night left me disappointed like all of twitter. >> i'm sure the creator will take that into consideration. >> i'm sure they don't care. >> all right >> oh. what's coming up on "the closing bell." more of this something else. >> maybe a little more of this the ratings numbers and talk to the u.s. china trade issues and ian bremer with us united steelworkers president leo gerard "squawk alley" is nt.upex

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