dealdash.com, the fair and honest bidding site. an ipad was sold for less than $24; a playstation for less than $16; and a 4k television for less than $2. go to dealdash.com right now and see how much you can save. remember, shipping is always free. it is 5:00 a.m. on this friday here is the top five at 5:00 stocks look ready to rally as the dow and s&p 500 look to keep the profit rally going. big spending plan. president biden with the biggest government spending in decades are big-time tax hikes next? tesla gets hits from "consumer reports" with the top rating on the model 3. whatstocks are seeing the most insider buying we know. the segment is ahead.

get ready. the indy 500 is back with fans in the stands. you will hear from racing legend juan pablo montoya and the racing president it is friday, may 28th, 2021 and this is "worldwide exchange. good morning, good afternoon or good evening welcome from wherever in the world you are watching happy friday i'm brian sullivan let's get to it. it is the final friday of the month. reminder, you know it, i'll remind you anyway. markets are closed monday for memorial day a long weekend futures are soaring. dow futures up 202 nasdaq up 40 dow up a lot more on a number and percentage basis than the nasdaq all in all, a pretty strong end to the month

it has been a pretty nice month so far the dow and small cap russell 2000 posting the fifth highest day in the last six. dow on pace for the sixth winning month in the past seven. you go, dow. look at that run in one year up 35% one reason is bond yields which continue to stay flat or move down let's check bond yields. 10-year is 1.61% it has been flat for nearly two months what hasn't been flat is oil it has been hot. it is up again a few cents oil up another 5% this week. oil and gas stocks and etf is continuing to power higher by the way, as do gasoline prices i paid $4.99 in jersey yesterday. cryptocurrency is not in the green. crypto and bitcoin and ethereum

is down. bitcoin down 7% and ethereum down 10% as we close out the month, let's get a check on where we stand and what is likely to happen the rest of the year. let's welcome in seema shaw wit. the show is called "worldwide exchange." the european markets are heatin up vaccination rates up case counts down do you guys think globally europe and asia are better bets for stocks than the u.s. markets? >> thanks for having me on in terms of how we consider the -- i'm hearing an echo

in terms of how we think of the u.s. and europe. europe is doing particularly well the reopening trade is back on we see case numbers down and this is a better result. what we are anticipd ticipatinge trade is expecting a pop what we are doing is trading that vaccine curve moving up and along with the countries doing better on the vaccine side through all of this, even then, we think the u.s. equity markets have a stable place to hide out. >> you know, so many baby boomers in america a lot of people retired or retiring pandemic accelerated retirement. the point is we heard so long about the 60/40 portfolio. 60 stocks and 40% bonds.

make money and protect assets. bonds have done nothing forever. is the 60/40 portfolio dead? should it be 90/10 what is the right makeup >> we don't think the 60/40 is dead over the last decade, that mix has been stable. if you are worried about the economic outlook, really that bond side, the treasury and mortgages are the place to hide out there. is no denial the fixed income environment is challenging right now. you need to rethink the 40%. you need to look at the emerging market debt. high yield and fed securities and think about private real estate these are the areas where you get a pick up and then offset

that with stability of the u.s. treasuries and mortgages. >> it is weird, seema. we are talking about inflation all the time the numbers are there. i don't know what it is like over there over here, everything is more expensive. every commodity in the world is up in price. yet, bond yields have done nothing, if not move down the last two months. i know they popped late last year is the bond market sending a different message than we keep hearing otherwise? >> it has been an interesting development. as we came into 2021, the view was bond yields higher because of economic growth and rising inflation pressure that happened in the first quarter. what we see now is economic growth in the u.s. is hitting the peak you are seeing the peak acceleration we see a couple of growth disappointments. the rising inflation is down to

transitory factors or any factor that should be transitory. the fed has been out in force emphasizing patience that is suppressing any of the potential rise in bond yields. this is the one thing to remember the fed, at some point, will need to unwind pandemic emergency programs at some point tapering will come in one you balance out, that is when you see that upward move and return to the bond market. >> seema shah. we have a three-day weekend here i'll wish you a solid weekend. see you next week starting on tuesday.shah, have a great day >> thank you. you're welcome. let's get to the headlines tesla taken down a peg by "consumer reports. bertha coombs is joining us with those. good morning

>> good morning, brian shares of hp trading lower this morning although the company posted better than expected earnings and offered an upbeat forecast at homewo workers are still buying pcs others point to the chip shortage plaguing the industry tesla losing endorsements from "consumer reports" and insurance institute from highway safety excluding radar sense orors on l 3. tesla would have to downgrade function temporarily in these models "consumer reports" tells cnbc it could return to the model 3 if

tesla restores the full functionality. we are watching the meme stocks again this morning. including amc. that stock jumping 35% now up 120% for the week financial firm says the four-day rally has cost short sellers $1.3 billion in losses brian, young friend of mine in his 20s, for his generation these days, the stock doesn't move 30% in a day. they're bored. he was joking. it is not funny. >> was he really joking? >> i know. >> i don't think he was. i think he said i'm just kidding. people say that and they are not actually kidding they need the money now. that's how it goes >> and excitement. >> we will see you

maybe i'll see you at the movies soon bertha coombs, thank you looks nice when we come back, get excited the unofficial start of summer arrived. what will new york city parks and beaches look like as we are coming out of covid? the head of the parks department is here. later, the hack attack is back this time on microsoft the company issuing a big warning. what's going on inside microsoft? eamon javers has that developing story for you coming up right after this

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welcome back memorial day weekend is here thank goodness covid is won the run cases crashing all over the country. with it, life comes back to normal for the most part as new york city parks and beaches are open and welcoming you back. joining us now is mitchell silver the commissioner of the new york city parks department. mitchell, great to have you on last year, obviously, was a different story. so much in that time we are glad everything is opening up parks and beaches. what will it look like if you can do something about the weather, let us know other than that, what will it look like for the new york city parks department and all of the people going to enjoy it this year >> after a very rough year, i'm

delighted to say all eight public beaches, 14 miles, open starting tomorrow from 10:00 a.m. to 6:00 p.m. when lifeguards are on duty summer is back in new york city. we hope people come out and enjoy themselves >> anything special we need to know we are making weekend plans. what do we need to know, mitchell >> first, we are going to have the beaches open people are not required to wear face coverings we encourage people to social distance if they use the comfort stations or restrooms, they must wear a face covering. if they don't have one, we have staff on duty to hand out the face coverings other than that, come out and enjoy. >> we did a story on the shepherd smith show of the nba you have 15,000 fans inside madison square garden.

it seems, mitchell, we're not seeing the mask rules line up necessarily. where do you stand how often do you readjust some of the requirements? >> well, we always listen to the cdc guidance we also listen to the governor's office and work with the mayor because we will be outdoors and according to state guidance,dis have to keep a face covering outdoors if you do to coney island, a lot of the concessions require a face covering. on the beach or in the water, you do not have to wear a face covering comfort stations or indoor locations in the beaches, you have to wear a face covering that is required >> yeah. the good news is we learned outside is not maybe 100% safe, but nothing is 100% safe wasps and things like that very safe according to the cdc

when will you next reevaluate the indoor requirements, commissioner >> we are always working with the governor's office and mayor's office and health guidance as they get more information, we adjust our requirements on beaches. right now it is looking good 10:00 a.m. to 6:00 p.m never go into the water when the lifeguard is not on duty we want people to go out and have fun the weather is not great this weekend, but from memorial day to labor day, our beaches will be open. >> commissioner, you know, jack up the temperature 15 degrees. that would be great. can you do that for us to me, 55 degrees, this weekend? help us out! >> knowing new york city, i'm sure within the next few days, it will start to increase. the good news is we know memorial day is the unofficial start of summer. people will be out on the

beaches. i'm sure there will be some brave souls that will go into the water. it will be tempting. the bottom line is this is a great weekend for people to come together and be outdoors we're excited after a year of lockdown i still think it will be a great weekend on the beaches >> anything outside with the way things are going is better than last year. get a couple of dogs on the beach at coney island. commissioner mitchell silver, new york city parks department thanks for coming on >> thanks so much, brian you're very welcome. on deck, your top trending stories including what we mentioned. hot dogs good news for hamburger lovers as well. as we head to break, check out big money retail movers. ulta shares trading higher a blockbuster quarter. more than doubling wall street

expec expectations retail boom for clothes. the gap is topping estimates raising the guidance gap credits strong active wear sales and fashions they tripled in a year and finally, costco beating the street the retailer did caution it is facing higher costs for a lot of things, including labor. so much left to do futures are soaring. dow futures up 200 we're back after this. >> announcer: today's big number $525,037 that's how much the average american will pay in taxes throughout their lifetime according to researchly by sel. that's the average of all lifetime earnings spent on

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bertha, what is going on >> this is confusiconfusing. the viral charlie bit my finger may not be leaving youtube after all. the family of the most viewed video on the platform had intended to delete it after selling it as an nft now they decided to keep the video up stating it is important to popular culture how nice of them to do that. broadway will be back this fall the awards, at least tony awards are set for september 26th the nominations for the 2020 tonys were announced last year the ceremony was delayed due to the pandemic. it is national burger day. restaurants across the country offering freebies. wendy's is giving away a hamburger with a purchase.

and starting today, vaccinated customers at shake shack can get a free side of fries with their burger or sandwich if you need soda with the burger, pepsi is offering a rebate for a free drink if you post a selfie with a pepsi and hamburger today. i hope that means you get the beyond meat or impossible burgers would be part of it? >> i guess i'll ask, bertha, we have known each other for a long time what is the coombs burger? how do you do it >> you know, i have gotten into the beyond meat ones the beef ones are hard to digest for me for me, on top, avaocado or

avocado salsa. that's the bomb. >> you are secretly a californian at heart you described the california style burger >> yeah. it is kind of california it is caribbean. my caribbean roots we love avocado. >> that's it we have to get a turkey burger with acovocado i'm a burger with mayo most bothering in the world. when we come back, hackers are back microsoft is out with a big warning. eamon javers is up next with the big story. if you haven't already, subscribe to the podcast if you are on the road or traveling for the weekend, check

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london straight ahead. plus, start your engines it is indy 500 weekend you will hear from racing legend juan pablo montoya about the fans in the stands you are watching "worldwide exchange" here on cnbc it is friday, may 28th welcome or welcome back. good friday morning. it is 5:28 on the east coast thanks for joining us. the final day of the month reminder markets are closed for monday, memorial day we will say it again ahead of the long weekend, futures are surging. dow futures up 200 points right now. a solid run on a number and percentage basis

nasdaq futures up 51po points. this will cap off a nice run for may. sell in may, go away i think not. the dow and s&p or small cap russell 2000 posting the fifth up day this is random, but interesting. the dow on pace for the sixth winning month in the past seven. also up a lot. oil. it has been red hot. it is up again this morning. not a lot, but still up. we're up 5% this week for crude oil coming into today. that move above 67 many oil and gas and etf stocks continue to power higher gasoline prices are at seven-year highs you probably know that crude oil is back above $67 a barrel a quick check on the crypto markets.

volatility continues on. a stable last couple days. not the case right now bitcoin is down. other big ones are erp and litecoin are down 11% and 12% as well you have to have dramamine or have a strong stomach to invest in crypto right now. and right now, let's go overseas and focus on the european markets the are u.s. markets are making you money. the european markets may be even a better bet as joumanna bercetche is about to tell us, they have been red hot as well. is that tv hyperbole, joumanna >> there was a lot of green in your markets, but not a lot of red for may. it was looking hairy we didn't think we would manage

to end the month with gains. the shanghai composite was up 4.5% about 3% away from recent highs. any index with tech under performed. hang seng in hong kong was up 4% for the month. alibaba down for the month the hang seng is about 7 percentage points away from the recent high. that tells you the tech selloff in the u.s. had an impact on asian markets. nikkei up 1.1% for the month one stock which was in focus in japan in may was softbank. shares down 15% for the month. that was the big laggards. we saw a nice rebound in the mining stocks and commodities. a bumper month as a whole. now you to the european index.

stoxx 600 not shown here brian, stoxx 600 is an all-time record high. strong month of gains for all of the european indices the uk index is up 1 percentage point. keep in mind what is happening with the pound we are studying the dollar it is about 1.42 that is capping the gains with the ftse cac is up. france is boosted by the luxury space. and the owner of gucci is up 15% this month that is one of the names we have been watching. xetra dax is up 2.4% you can see the italian and spanish indicies are capping off a really nice month of gains remember, the big theme for markets has been rotation out of

growth and value a lot of growth in europe. that explains the performance on the stocks whether it continues next one, we have to see a solid month in may >> really has been calsrs on the program the other day, joumanna, a better opportunity around the world joumanna bercetche, thank you. have a great weekend see you next week. all right. a huge change at the plant that makes the j&j vaccine and the former ceo of theranos bertha coombs is back with the headlines. >> thanks, brian shares of jd logistics soaring 18% in the hong kong debut after the company priced ipo at the lower end of the expected range. this is logistics arms of chinese ecommerce giant jp.com

and fda and johnson & johnson expected to announce the contamination troubles at the plant in baltimore are now resolved this could allow for 60 million more doses to be able. wall street journal reporting an expected announcement is coming in days. and elizabeth holmes wants a written questionnaire in her fraud trial. her attorneys calling inflammatory media coverage. they found 3,700 instances of negative personal articles, brian. >> wow yeah we will see how wide spread that is the trial is widely watched. especially some of the talk about the spending and the private jets and living at the

four seasons bertha coombs, thank you very much by the way, if you haven't, read the book "bad blood" if you want to know more about theranos let's now bringing in eamon javers tracking two very different developing stories right now. first the president wants to raise government spending to unprecedented levels and we also have microsoft, right now, fighting off a hack attack let's start with the first story. eamon, welcome in. biden's proposal of spending to support the social safety net. what does he want from the next budget >> reporter: he wants a lot of money from the budget. ylan mui has the details from what the president will reveal later today. we get the details from the government officials throughout the morning and into the afternoon today. here is what we know as of right

now you. take a look at what ylan has been able to put together on all of this. one is we're looking at $5 trillion in additional spending over a decade. largely reflecting the american jobs and families plans. looking at 3.6 trill$3.6 trillin additional revenue that reflects the larger tax rates on the rich and corporations that biden has in mind that assumes the increase in the capital gains of 39.6% is retroactive and already occurred in april we will see how that plays out the net deficit is $1.4 trillion over a decade. the deficit overall will start to shrink in 2030 because spending increases are temporary and the tax hikes will be permanent. the budget plans are just proposals by a president all of this has to be worked through congress and it can look

different on the other end this is the wish list. it is a value you statement by the biden administration of what they believe in and where they want to go they are saying in effect we don't mind the high budget deficits because we think there is spending we have to do right now that is important to build the economy long term. that is a big assumption there will be a political fight here in washington, brian. >> i sort of tongue-in-cheek said on twitter yesterday, eamon, whatever you think about the budget, buy d.c. area real estate the value of your house probably increased. every time government spending goes up, my neighborhood will be a suburb of d.c. by the time all of this is done. not a political statement. buy real estate in west virginia let's transition microsoft is undergoing some sort of attack and assault by hackers. tell us what you know. is it an attack on microsoft itself or attack on the product

microsoft supports so some of the viewers and companies may be at riesksk her. what's going on? >> reporter: absolutely. pay attention to this particularly in telecomm or defense. this is an email attack that microsoft disclosed last night it is the russians again hitting about 3,000 email addresses at 150 different organizations. according to microsoft's blog post and tech specs, it seems like a very tailored attack going after 3,000 individuals. microsoft says they first picked it up in january of '21. they are disclosing it publicly last night you get the sense, this is me reading between the lines, you get the sense they were working with the individuals early on. now this thing is getting bigger and bigger and feel they need to alert the public the target here appears to be, according to reporting this

morning, industry groups in the non governmental official areas. the non-profits and think tank and defense and foreign policy particularly areas that have been critical of vladimir putin himself. this is what looks like an intelligence gathering campaign by the russians to crack into the emails and servers of 3,000 people in the defense and foreign policy and technical space to gather more information. microsoft says the attack is ongoing right now and that is why they are warning people. if you know anyone in that area, pay attention to what microsoft put out with the technical specs of how the attack is going on right now. >> that is a big and scary story. eamon javers, i'm sure you will be on it all day on cnbc i appreciate you coming on thank you. >> you bet all right. coming up, it is indy 500

weekend. more than 100,000 fans back in the stands we're going to hear from juan pablo montoya and the head of the indy dow futures are up 200 you get to sleep in on monday. everything's looking up. we're back after this.

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well, to racing fans like myself, nothing says memorial day like the indy 500. the greatest spectacle in racing it returns back to the calendar after no fans in the stands last year this year, the fans are back at the brickyard. only 40% capacity. 40% capacity is still 135,000 people in the stands we had the chance to sit down with two-time indy 500 winner juan pablo montoya and asked what it is like to ride with mclaren this year and what it is like as a veteran of the sport >> it is exciting. a couple of wins with mclaren and f1 when i was there. i won here with ganassi and chip if you come with a third team and win with them would be

pretty special and i really try to force myself to do more the good thing is i've been doing the races the last few years. you run three hours in the car and get out for three and drive another three. you spend a lot of hours in the car. mentally, this is a short race for me for the younger guys, this is a big race and a long race i think mentally i'm in a really good place i have a lot of experience you know, the only thing that i think would change is one of the teammates. the big difference is if we hit the wall tom, tomorrow, you're . six months from now, i'll be a little sore. >> let's talk about the indy 500 and running the largest attended u.s. sporting event since the pandemic began doug boles is the president of

the indy motor speedway. doug, well come i've never been to an event like that before. it was just mind blowing to hear 40% capacity is still 135,000 people that's insane. what is it going to look like? by the way, welcome back to the month of may >> yeah. you know, first of all, thank you. we have not been racing in the month of may for two years we did it for 103 up to that point. it will look like a huge crowd we will have spacing between folks. our fans will notice a difference from a televisionperspective a you watch it, it will look like a darn good crowd. >> by the way, nbc kicks off at 11:00 a.m. eastern time on sunday i want to throw that in there because we're all going to be watching you have the youngest drivers and juan pablo, he is an old man

at 42, i think phil mickelson proved you can skill still do it. you have 11 countries. you have the shootout. some drivers did not make it i'm not saying this because it is on nbc or whatever. it feels like indycar is really kicking butt i was going to say something else doing great right now, doug. >> the ntt indycar series is doing a great job. you touched on it. there is a transition with the car with juan pablo and scott dixon. and the younger drivers. a lot of young folks i think there is a little transition and simona starting with an all-female team and the car owned by a female. a lot of story lines in the indy 500. >> and watching his parents who

sacrificed and his dad crying on tw television that is an incredible story. we have to talk about it, doug masks? social distancing. outside. what are the rules there's wind what protocols do we need to know if viewers are planning to attend >> we are an outside event we are requiring folks to wear masks. we are in marion county and there is an ordinance to have the masks. we will remind them to put masks on if you are in the grandstands and you are eating and drinking, that will be challenging. one thing people wit notice is the terms of customers i'm worried about when they are standing in lines. so far up to the point, fans

have done a great job of helping us out and do what the city is asking us to do. >> it is amazing by the way, doug, this is the second spectacle in racing the first which i hope to be at is the s.e.c. runoffs. i really hope to be there. doug boles, president of ims good luck this weekend first of all, have a safe race if you haven't been there, please go. it is an awesome city and race doug boles, thank you. >> thank you you for having me. >> go to st. elmo's for a steak. the 500 is this sunday on nbc. coverage kicks off at 11:00 a.m. eastern time anybody out there. old man dixon and montoya. will power is in the back. can he move forward? look forward to the coverage on

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time for the weekly insider buying segment one you will see here only on "worldwide exchange. instead of the five stocks for memorial day, we will do three they are three really interesting trades for different reasons. here you go. the third most insider buying this week. big name at big company. apollo global. a few insiders buying $352,000 one insider is former s.e.c. chair jay clayton. he now works at apollo stock two, a smaller cap name. berkshire hill bank. $548,000 of the boston company by the way, buying into strength the stock is up 60% this year.

watch berkshire hill bank. and finally, a big one in many ways at&t $4.5 million in insider buying that's a number of buyers. two of the insiders tallied that ceo john stankey and the past ceo. $4.5 million all in the wake of the deal to selloff warner media get this, although he has been an insider since 2004, this was ceo john stankey's first ever insider buy. wow! a name to watch and what has been a crusher of capital in the last decade. maybe at&t is turning it around. we will find out the ceo is a big buyer there are the three. we do it every week here on

"wex." let us welcome in our friend and contributeor jenny from gilman hill. two things i like in no particular order i like soap and i like spaghetti sauce. i bring up both because they are both made by a company you like and, by the way, cnbc headquarters neighbor unilever are there better opportunities outside of the united states >> there are amazing opportunities outside of the u.s. we manage and i never get to talk about this. i'm excited. we manage our equity income strategy that is u.s. based. we also have an international income strategy. in the last year, when our clients have given us a choice to weigh in on the allocation with the u.s. stocks and international stocks, we have recommended a higher than historically proportionate

average. the spaghetti sauce and soup with unilever, they also make hagen dasz looking at that one, you can take unilever with the 19 times earns at 3.5%. 60% of the sales in the emerging markets and international markets continue to see economic growth and that is a direct b benef beneficiary. p&g is 25 times at 2.5% yield. the only reason unilever has the lower is because they are not headquartered in the united states they all have it >> the u.s. headquarters in new jersey is certainly unilever there. i hate to say it we are coming out of covid

cases crashes. vaccinations up. health problems persist. you have a lot of challenges after covid as we did before 5.8% dividend yield on glaxosmithkline. big pharma stocks? >> i think we have one of the interesting things is glaxo is in our international portfolio. glaxo did get in because the area of revenue is the vaccine people were not getting other vaccines or going to the doctor. that has been ignored. it is also always traded at a discount to the u.s. counterparts take glaxo 5.8% yield look at johnson & johnson. 20 times earnings and 2.5% yield. diff i did this a long time ago revenues from both companies in north america and outside of north america. they are relatively equal in

where they bring in their dollars. you have the huge multiple in this block it is not headquartered in the u.s. that is a great opportunity. particularly now with a little bit of love and appreciation is coming back into the international markets. >> domestically with medtronic mdt. >> right that is ois another one that is below the radar in the u.s one thing we heard is when people ask where the market will go between now and year end. a lot of talk is pull back or correction blah, blah, blah we are always looking at a correction we don't know if it is a month away or six months away. something will happen. everybody knows this it is coming then they say, okay. where is the market going at the end of the year? call it up 12% on year

that sounds boring and flat. if you look beneath the surface between now and year end, there is so much to do one of the things is we sold a position in sherwin williams and instead, we reinvested in three existing positions in the portfolio. one was medtronic. it has 20 times earnings and 5% cash level and 11% earnings growth and unappreciated and should come through the pandemic well >> great stuff jenny, as always, great names. paint and spaghetti sauce and fat dividividends. have a great long weekend, jenny. thanks for joining us. >> thanks, brian you're welcome folks, that does it for us on "worldwide exchange. it is friday dow futures are soaring. we have a three-day weekend ahead. everything's looking up. you're welcome

"squawk" and the gang are picking up the coverage next ve gatonweenyou on tuesday ha are lg ekd, everybody. i really hope that this vaccine can get me one step closer to him. to a huge wedding. to give high fives to our patients. to hug my students. with every vaccine, cvs is working to bring you one step closer to a better tomorrow.

good morning green arrows to the end of the

month. we'll talk about the biggest movers, including the meme stocks with another bump. and in washington, president biden set to unveil a key pro pose al. it is friday, may 28th, 2021 "squawk box" starts right now. good morning welcome to "squawk box" here on cnbc i'm becky quick along with andrew ross sorkin and santorri. joe is off today check out the equity futures big gain