it is 5:00 a.m. at cnbc global headquarters. here is the top five at 5:00 waiting on the fed stocks at or near all-time highs. bitcoin bouncing back after elon musk turns the page with the on again and off again relationship with the cryptocurrency joe biden is getting ready with the face-to-face with putin. we are on the ground spac in action

how richard branson is going back for seconds when it comes to tapping the equity markets and putting a price tag on the final frontier and seat on the next brothers bezos on the trip into space the winning bid ahead on this monday, june 14th, 2021. you are watching "worldwide exchange" here on cnbc good morning i'm dominic chu in for brian sullivan on monday here is how stock futures are setting their monday morning up. you can see we're poised for modest gains at opening bell dow implied higher 20 points and s&p by 4 points and nasdaq by 31 s&p 500 is coming off a record close on friday. the third straight week of gains. nasdaq up four weeks in a row for the first time since january. small cap stocks as well

especially the russell 2000 and other indices out there also up three weeks in a row treasuries still below the 1.5% level for the 10-year note 1.46%. now to the morning crypto check. bitcoin in the open there. you see 4% gains at $39,083. ethereum is higher in the morning trade as well. more on bitcoin's action coming up later in the show keep an eye on crude oil trading at the highest levels since 2018 1% gains for west texas international. 1% up side there

lumber hitting their lowest level since april. down 13% over the last week and down three weeks in a row. a lot of people hoping that trend continues. especially if you are a home builder or somebody looking for home renovations a busy week ahead. the federal reserve kicking off a two-day policy meeting tomorrow jay powell will wrap up with a news conference on wednesday afternoon. we also have new inflation data at the producer level and retail sales data a busy week for earnings and for economic data. joining me now is silver crest asset management robert teeter robert, the context that we're seeing and record highs and interest rates falling and inflation concerns is part of the mix. do you feel as though you are getting more comfortable with the markets despite many of those warning signs we're seeing >> that's a great question

good morning, dom. there are a lot of warning signs. inflation is the biggest of them what we found really interesting is as inflation moved higher from 2% to 5% in recent months, the bond market has steadied yields have come down. that would not expect that naturally. there are a few things that encourage us that inflation may be peaking we see some of the front-end crisis starting to slow down things like lumber and then you don't want to under estimate the supply side of the economy. it is showing it can expand supply on short notice and solve a lot of problem >> you know, i'm really glad you brought that up. it has been something i have been paying attention to as well we have talked about the idea that supply chain issues could be pushing prices higher and it could be even a medium-to-longer

term phenomenon. i don't know if the pandemic is a perfect example. we rallied to produce hand sanitizer and wipes and everything else from ppe if there a will, there is a way, robert the supply chain issues will get cleared up how long do you think it takes >> i think that is right i see things the same way. i think it will be a little bit different for each pricing we have seen lumber prices come down dramatically in the last few weeks. it may take more time. we heard the automakers starting to solve problems with the chip shortages. that will take time. it will get the job done our expectation is the cpi level is elevated, but the next one may be the peak and the second derivative will come down. as we work through the hotter summer months and winter, as the temperatures cool, the prices will as well >> if the temperatures are

cooling, prices are cooling down are there parts of the market poised to do better in that environment? >> i think so. i think the easiest thing is to get off the inflation roller coaster and following earnings higher we're unsurprised by that given the covid cycle, but when you rewind the clock to 2019, numbers were above where they were and expectations are they will continue into 2022 as well. there are a lot of things to like on the growth side and cyclical side. small caps and industrials area. those are places where you can find good opportunity to follow the earnings. >> so technology also looking for the earnings story to continue robert teeter, have a good morning. >> thank you let's get to the other top stories. bertha coombs is here with more.

>> reporter: good morning, dom you talked about crypto a few minutes ago. bitcoin bouncing back near the $40,000 level once again after elon musk said he would consider accepting bitcoin at tesla dealerships. he must want confirmation reasonable 50% clean energy usage. tesla halted car purchasing in may citing climate impact over mining virgin orbit in advanced discussions to go public at about $3 billion valuation through a spac led by goldman sachs partner george matson. a deal is expected to be announced in the coming weeks. virgin orbit declined request for comment. apple will drop mask

requirements at a number of retail stores and offices as soon as tomorrow according to bloomberg, the company has informed employees of the change of policy. customers won't have to wear masks or prove vaccination status retail employees will be required to wear a mask. it is a hybrid approach, dom. >> hybrid is the buzz word we have seen so much during the pandemic thank you, bertha. see you later on. when we come back on the show, we are live in brussels where president biden is preparing for the face-to-face with russia agency vladimir putin. our eamon javers has the report there. plus, hackers and cyber thieves are swearing off bitcoin for another covert and autonomous crypto coin. and history at westminster and this year's best in show yes, i'm a dog person. busy hour still ahead when "worldwide exchange" returns after this ready to shine from the inside out?

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. welcome back president biden wrapping up the summit with the g7 and shifting to brussels to meet with nato allies and a face-to-face with putin. we have the latest with eamon javers good morning >> reporter: good morning, dom the president is in brussels he spent the weekend in the uk with the g7 where they took the family photo of the world

leaders. this event was about who wasn't there as who was there this addressed to china and russia obviously not part of the g7 over the weekend a lot of it was about the answer of former president trump and reemergence of the united states on the global stage. the g7 communique came up with a couple of deliverables you look at the items they agreed on. providing 870 million vaccine doses to poorer countries. they endorsed a global minimum tax and called on all states to urgently identify and disrupt ransomware and reaffirm the call on russia to stop destabilizing criminal activity. it was the minimum tax that attracted president biden's attention. he suggested he may pursue

something similar at home. >> so many corporations are engaged in tax havens. deciding pay less than others around the world this will make sure there is a minimum tax and i'll move on this at home as well minimum tax for corporations for the profits they make anywhere in the world >> reporter: the president made a reference to the absence of his predecessor as a lot were commenting on the reemergence of president biden and united states on the world stage. >> the lack of participation in the past and full engagement was noticed significantly. not only by leaders of those countries, but the people in the g7 countries america is back and the business of leading the world alongside nation ws who share our deeply

held values. >> reporter: dom, the weekend was spent on diplomacy with the g7 nations now nato as the president is in brussels and focusing on the military alliance. then it is here to geneva where the president meets with vladimir putin the security situation is ramping up in good a geneva. will the president get the u.s. and russia relationship back on track on wednesday that is the focus of the week. dom. >> eamon, tell us the expectations with the face-to-face with vladimir putin. juxtapose next to a nato meeting against a warsaw pact that doesn't exist, but russia does this is interesting with regard to the u.s./russia relationship. >> reporter: so much as stake in the negotiation, dom the first meeting with the two

men with biden in the presidency they met before, when biden was vice president of the united states the president will focus on the ransomware attacks and russia's role in this and the military aggressiveness particularly in ukraine. can the president get deliverables from that the expectations, dom, are fairly low the idea is to send a forceful message and see what happens between the united states and russia one thing to watch is there will not be that joint press conference that we have seen in the past the president said he doesn't want to engage in that with vladimir putin because he knows we'll will analyze the body long the president doesn't want to engage in that >> i'm sure you will keep on top of that. eamon javers still on deck, the price tag

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welcome back to "worldwide exchange." it is expected that a business will fall victim to a ransomware attack every 20 seconds in 2021. according tie ro a report the favorite cryptocurrency is bitcoin. hackers are now starting to request less traceable bitcoin alternatives cnbc reporter mckenzie joins us. good morning why are cyber criminals ditching bitcoin? it was a popular mode of transferring value for the last several years. >> reporter: good morning, dom one of the core features of bitcoin is the public ledger stores all of the transactions

and is visible to everyone this is the reason hackers are turning to monero. it is considered a privacy token. it hides all transaction details which allows cyber criminals greater freedom from the tracking tools that authorities have developed to trace payments on bitcoin block chain >> now, we're looking at the monero anonymous cryptocurrency it has features to protect the identity does it mean that we're in a tipping point for monero i follow cryptocurrency somewhat i'm not an enthusiast. i never heard of monero. is this about to take on the ransom side of things more will they request criminals monero instead of bitcoin? i don't feel it has the same brand awareness that many of the

other cryptocurrencies do. >> reporter: i spoke to digital mint, a company that helps corporate victims pay ransom in cryptocurrency they told me that 90% to 95% of ransom are paid in bitcoin monero is a popular option that said, there are limitations when it comes to dealing it is not as liquid as other cryptocurrencies in part, many regulated exchange have chosen not to list it for regulatory concerns. that means it can be harder for hackers to cash out to u.s. dollars. >> now, okay, if there is not a lot of liquidity and it is not as well used, what exactly does get monero to the next level to the level of the alt coins are at and eventually what is happening with bitcoin >> reporter: it all comes back

to the public ledger the fact that it is very difficult to see who the senderd transaction. a lot of criminals are banking on the fact that the offramps and onramps with the digital token will get better. there will be ways to liquidate the digital currency >> i understand you are heading to miami this week that city is becoming big on cryptocurrency what exactly is driving this action toward miami and cryptocurrency >> reporter: a lot of people i've spoken with are bullish on florida and bearish on new york and san francisco. you have crypto start ups and venture firms and currency exchange that are relocating to

miami. some are calling it the miami migration. it has a lot to do with mayor fra francis suarez miami will accept tax payments in bitcoin and the city wants to let employees draw salary in bitcoin as well. the city is holding bitcoin on the balance sheet. i plan to ask mayor suarez about when i interview him later this week. >> it is a tropical place for the crypto enthusiasts thank you, mckenzie. be sure to check out the column for mo nnero on cnbc.com i learned about it i didn't know what it was. it is an eye opening piece about what kinds of things are happening in the crypto industry let's get a check on the headlines. frances rivera is in new york. >> good morning, dom a violent weekend across the

country. a man hunt is on in savannah, georgia for one or more suspects after a friday night shooting left one person dead and eight wounds a tragic update to the shooting in austin on saturday morning. a 25-year-old man died from injuries police say one suspect is in custody. in chicago, three people were killed and 36 injured in shootings across the city. police are searching for two men who opened fire at a group of people standing in a parking lot on saturday. a 29-year-old woman was killed and nine others wounded. a new week and a new era for israel for the frs irst time in a deca, israel has a new prime minister. natali bennett took the leadership role from benjamin netanyahu. and the pekingese took the top dog honors at the best in

show at the westminster. wasabi won the american kennel club championship in 2019. a hard fight in roland garros djokovic was down two sets in the french open after he took the last two to win the 19th grand slam one away from tying roger federer for the most in men's history. before leaving the court, djokovic gifted his racket to a young fan who went nuts. >> the last five or seven years have been a golden age of tennis frances rivera, i don't know if you are a tennis fan, but it was fun to watch >> it is especially with the french open. who is in. who is out now we know. >> frances rivera, thank you

very much for that still ahead on the show, amazon unveils the newest warehouse workers straight from "sesame street." and the cnbc global summit is coming up this week gathering leaders from around the world for provocative conversation as and share strategies and tactics that are necessary for adapting and transforming in the new era of business. speakers from pfizer and imf and ups and many more. you can learn more and register at cnbcevents.com/evolve we'll be right back.

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fed in focus investors turning attention to the central bank latest high policy meeting pushing to propel stocks higher. president biden taking aim at china and russia and more in the first g7. and say hello to your job. people quitting creating hurdles for employers. it is monday, june 14th. you are watching "worldwide exchange" here on cnbc welcome back to the show i'm dominic chu new hain for brn

sullivan you can see we're poised for modest gains dow implied higher 3 points. the s&p 500 is coming off a record close it's third straight week of gains. nasdaq up four weeks in a row for the first time since january. also the small cap russell 2000 index up three weeks in a row. showing gains there. right now, you can see bonds also in focus. stability is the name of the game this morning. 10-year treasury note yield a hair around 1.46%. 2-year treasury note yield is .15%.

to the top stories bertha coombs is back with more. >> reporter: dom, employers in the united states are facing a new reopening challenge with the surge of people quitting over the weekend, "the wall street journal" states more people have quit their jobs over the last two decades people foregoing a return to the normal office lifestyle and others burned out from extra workloads and stress royal dutch shell is mulling the self ling the oil field in h u.s. it could go up to $10 billion. shell weigh being the move in the bid to focus on the profitable oil and gas assets and grow the low carbon investments. and washington prime filled for bankruptcy the company was spun off from

the nation's largest maull owner in 2014. it should be noted that washington prime has a market cap of $120 million. experts wars warned the pandemi accelerating the closure of malls. this was on track before the pandemic >> the hot and very not. thank you, bertha. president biden is in brussels this morning. the president wrapped up with the g7 yesterday calling on his counterparts to take action on the climate and chinesea and moe for what we need to watch, i'm joined by andy blocker

a andy, you look at this through investor's eyes and policy maker's eyes and main street what should we take away from president biden's first trip to g7 and now nato? >> dom, great to be back with you. this is all about reaffirming alliance and restoring trust with democracy with china looming in the background. on the positive side for president biden, he had done a lot in this respect by showing u.s. can take care of business at home with covid-19 and delivering a message that the u.s. is back on a international stage. it led to the turn around how america is being seen. now during the biden presidency, the confidence has increincreas.

what could president biden deliver to show the leaders are coming together? i think they have come a long way. >> andy, we are showing the gl glamor shots boris johnson elbow bumping president biden. this is all touchy-feely is this constructive enough or are things enough to lead to any economic impact whatsoever for the g7 countries and relationship with places like china? it is the largest trading partner for many countries around the world >> you made a good point what is show and what is reality as far as the economy is concerned? i don't want us to under estimate the impact of the 870 million doses of the covid-19 vaccine. coifed 19 and dealing with that

recovery is still the key economic issue first is the u.s. continuing on the path in europe then the rest of the world it is a long-term play and that is important i think challenging russia on ransomware and cybersecurity this is the strongest statement with respect to china. it did not go as far as president biden and the u.s. wanted to, but on human rights, they were direct >> andy, folks will be across the political spectrum our viewers included say what you will about president trump, there was very decisive and provocative action taken by the trump administration to handle our relationship with china. you can't doubt that what exactly then is the biden administration looking to do with regard to these meetings and the u.s. position on china it is viewed as the main

relationship to focus on in the global economy for the next 10, 20, 30 years >> dom, you made an excellent point. the key is what is the difference what is the same is with president trump going after china, he crossed the rubicon with china 73% of the american people don't have a favorable view of china we are not going back to the l lovey-dovey relationship we are competitors and adversaries. the message is changing. that is what the biden administration is trying to do we tried the bilateral approach. let's do multilateral and get all of the allies with us as we go at china. they started that process with the g7 not as far as as they wanted. that is the approach. >> a lot to digest for sure. andy blocker, thank you. >> thank you

coming up, heading to the heavens with jeff bezos for a few million dollars. the high price someone paid for the space ride with the amazon ceo and other top headlines. and the top stories. japan set to launch anti-trust probe into apple and google over the japanese smartphone makers this is according to the report in nikkei. this comes ahead of the an anti-trust report this week. and speaking of amazon, revealing the details over the robot workers to help employees safety ernie and bert hoping to reduce stress on workers. and the ongoing crisis for home depot the companies try to grapple

with the supply chain constraints everyone is dealing with around the world. home depot is flat at implied opening. we're back after this. hey, it's good to see you. the company we've trusted to keep us working remotely, is the same company we'll trust to bring us back together. cisco. the bridge to possible.

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s.e.c. wrapped up the public comment period on the issue. what could the changes mean for corporations and investors diana olick has that >> reporter: dom, good morning the business round table is expressing the requirement that companies disclose the greenhouse gasses. and blackrock reports that climate related considerations into the investment process will deliver long-term risk adjustment for our clients the climate service is running complex climate scenarios for the largest corporations in the world. they look at physical risk like floods, hurricanes, wildfires and extreme temperatures they assess transition risk. as the world changes to the lower carbon economy, how will the changes hit operations and supply chains.

>> really interesting evolution of the climate change conversation in corporate america over the last 24 months. it has moved from climate risk understanding is nice to have as a need to have now it is a critical risk to measure and manage >> reporter: the largest growth in demand is from financial services and real estate, tech, food and beverage, and energy firms. companies are not forced to disclose climate risk, some large investors are now demanding it >> you have to look at the risk management tools and the metrics and measurements associated. through our company engagement, we want companies to disclose and be transparent with us >> reporter: even in a public filing for the ipo, krispy kreme cited that effecting business.

the biggest hurdle is how to create a standard for climate risk and how to quantify that is a big hurdle, dom. >> a big hurdle, diana there has been so much ground made by some of the companies with regard to their awareness of it and disclosure and transparency picture overall what moves this to the next chapter? how do those talks and conversations and talking points become actions with regard how they tackle the business po policies if at all >> reporter: that is what the commend period for the s.e.c. is about. the s.e.c. has to decide how they are going to enforce some sort of qualifier or rules that would make companies have to disclose and not just disclose, but qualify and quantify look at the climate risk and standard for gauging that risk and disclose that in the

standard format. as investors look at the companies and governments look at the companies, they can assess the same risk that would have ramifications of how people are investing >> it is fascinating obviously right now, diana, a debate if governments should be involved in that sort of thing with regard to the companies thank you, diana a wendy's across the pond and old american cars and old expensive 11 minutes bertha coombs is here with the trending stories bett bertha, it is amazing. >> reporter: we will get there let's start off with wendy's. opened the first location in the uk in 20 years the chain had shutdown the british locations in 2001 citing high operating costs customers queued up for the menu

online the average age of vehicles in the u.s. has risen to a record 12.1 years. all-time high. the new data coming from ihs market it is an increase compared to 2019 when americans held on to their cars for an average of 11.8 years the report cites that record age is due to americans driving fewer miles during the pandemic. one very special space goer has won the auction to accompany jeff bezos and his brother on the first blue origin trip to space. 7,900 people bid for the spot with the winner paying $28 million for the 11-minute space trip the winner, who is anonymous, will also have to pay a 6% buyer's commission bringing the

total cost to almost $30 million. i guess it is an auction you have to pay that commission as well. i don't know 11 minutes for $30 million i wonder if they will pitch jeff bezos on some new business while they are doing it. >> it could be the fascinating part to me is whether or not you see this kind of talk expand beyond just the multi, multibillionaires out there who can afford the flights. is there a democritization of space flight >> reporter: similar to cars we are returning to that with prices of cars inflating especially with the used cars. eventually, i have to imagine it will come down to, you know, us

simple folk. >> as a guy who owns currently a 16-year-old vehicle with 200,000 miles on it. >> right there with you. >> maybe it is more the sentimental value i have about my car i love cars. bertha, thank you for the trending stories. on deck for the show stocks looking to break into fresh record territory katie stockton willomentum if you have not already done so, subscribe to our podcast if you miss "worldwide exchange" we have it on audio format check us out on all of the platforms. june is pride month. we spotlight contributors and business leaders and colleagues. here is pfizer's chief corporate

affairs officer. >> much to my amazement, being a gay woman has been actually an asset to me in business. i had to make a decision early on whether or not to come out. once i came out, i felt clear, bold, brave and able to make really authentic relationships that have served me well in business and in life it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network.

plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. at cdw, we get your it staff has be ready to take on new challenges. that's why we built an office obstacle course ... to prepare our people for anything. you're late well, cdw amplified services experts will consult with you to design, orchestrate and manage your most complex technologies to help you quickly overcome any obstacle ... without all of this. oh, that is better. who's that? oh, if you want coffee, you gotta get past tantrum. you're in for a brewed awakening. for technology that moves you forward, trust cdw amplified services

how do plastic bottles turn into this? wm and repreve have given new life to over 20 billion plastic bottles. and we're just getting started. see how recycling is one of the many ways wm is always working for a sustainable tomorrow at wm.com/stories. welcome back to "worldwide exchange." what you are seeing there is the rough calendar for the catalyst that we could have in the market on the week ahead. on tuesday the two-day federal reserve meeting. whol wholesale numbers and housing data and lennar on wednesday and weekly jobless claims.

the philly fed index and adobe and kroger earnings as well. a good catalyst on the macro and micro economic climate coming up. no one is expecting fireworks from the fed at the meeting, but it could be a pivotal meeting with the s&p at a record high and dow and nasdaq not far away let's bring in katie stockton. katie, i have to ask, can the stock market keep going higher it seems like it doesn't want to go down. >> we can see it go higher, especially if sentiment remains complacent here. the market has a strong up side and the s&p cleared the final resistance from may. that breakout was confirmed on friday we don't like to fight breakouts in the take. if it doesn't necessarily make

sense from the fundamental perspective, it is still there the breakout we saw by the s&p 500 targets 4440 that dictates more offensive positioning. especially measures of sentiment show that complacency is here to stay for one, i'm watching the vix. that would be an indication that we are going to see a new lower floor. the vix holds an inverse to the s&p 500. that will be key. >> we are showing a chart of the vix. you look at charts for a living here we see the spikes. we know why they were there. we talk about covid and economic shocks we were expecting to see stock market volatility elevate. if you are in the low volatility environment and you are saying it could go lower if we go below

a certain level on the vix, what does low volatility look like? what can we expect to see in the vix or stock market overall if we take out the sub levels for volatility you have been seeing? >> the new floor for the vix is at the 2019 low. it wasn't that long ago we had this so-called low volatility regime or cycle. that floor was around 11 that would suggest the equity market can forge higher. indeed, we had seen consolidation since february and the growth year we saw significant correction some of the same stocks in the last two or three weeks broken out above minor resistance levels the 50-day moving average. that relief rally is seemingly becoming a bit more. it doesn't mean the stocks will have an easy go at getting to new highs this year.

they will have challenges in that regard because there is a lot of resistance in the wake of the move it shows an underlining correction in the broader market that really didn't manifest itself in measures like the s&p 500. that rotational correction can be something that can help trend. >> if the assumptions play out and we have the medium-to-longer term bullish upturn, that implies there are certain areas where people will look in terms of traders for investors the alpha so to speak. it is easy to own the s&p if you know it will go higher >> if the breakout that we have in the s&p 500 is real and if it carries over to the nasdaq 100

and the russell 2000, the initial phase of that performance will come from the higher growth regime it doesn't mean that will be a lasting phase of performance because those areas of the market had already corrected and we're talking about things like clean energy and the 5g space. the names that pulled back those will probably catch more near term. beyond the near term, you expect rotation back into the cyclical sectors. we have breakouts of energy space. materials and industrials holding positive and relative strength maybe extended in the short-term we will see more of that happen. at the same time, we will see participation, if not, also outperformance from the heavyweights in the market that is the likes of apple and amazon both of which held their 200-day

moving averages. i see that as an incremental positive for the major indices sdpindices. >> katie, are their names you see as breakouts with the charts you are watching >> we have seen a lot of breakouts from ford and minor breakout in ge we he had a breakout in nvidia juniper. they did see upside when they cleared the initial resistance levels the more we see the same action from the bottom up perspective, we can trust the breakouts and act on them. i highlighted to clients tesla not as a breakout, but stock that is rising from the intermediate term to over-sold condition. now has better short-term momentum the more we see that and i believe tesla and others like it

are still in long-term up trend. the phase of the down move since the february high, they did not damage the long-term trends. they did damage some portfolios. i think we will see a comeback with tesla >> katie stockton with the call on tesla and others as well. thank you. have a nice day. that does it for us here on "worldwide exchange. "squawk box" picks up coverage for the rest we are at market highs for the s&p 500. look...if your wireless carrier was a guy, you'd leave him tomorrow.

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good morning fed in focus investors watching closely for signs of tightening from jay powell stocks at or near all-time highs. stop me if you heard this before price of bitcoin moving after a tweet from elon lusk

game on again. we will slhow you. biden in brussels. getting ready for the face-to-face with vladimir putin. we are on the ground with a re report it is monday, june 14th, 2021. "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc i'm becky quick along with andrew joe is out today andrew is reporting live from new york city. andrew, we have a big guest coming up today. nice haircut, by the way. >> we will spend time together we have a lot of big guests. we will spend time with paul tudor jones in the 8:00 hour we will talk about