it is 5:00 a.m. in new york. here is the top five at 5:00 recession warning sign the signal for the first time in 16 years walking it back. the white house trying to water down some off script comments from the president about regime change in russia locking down again china hitting shanghai with the biggest citywide lockdown in two years. targeting billionaires the biden administration wants a new tax for the 1% of the top 1% real world drama at the

oscars why the moment everybody is talking about has nothing to do with best picture. it is monday, march 28th this is "worldwide exchange. good morning, good afternoon, good evening. welcome from wherever in the world you may be watching. i'm brian sullivan thanks for joining us on this busy monday. we'll get more on oscars story in a moment. if you missed it, it may be one of the more bizarre scenes in live tv history. let's get the monday money stocks down .10% it is coming off decent momentum for stocks nasdaq and s&p up 2% last week as oil prices move higher oil has been moving the market oil goes up, stocks go down.

vice versa right now, oil is down by a considerable amount. off $5 a barrel. that is on the china lockdown story. natural gas on the other way it is higher after the announcement from president biden about helping supply europe with more natural gas perhaps 65% more than we export to europe now. is this the sign of real support for oil and gas for the white house? as ceos are called to capitol hill next week to be grilled on oil prices and climate change. we'll talk more about that you will hear live from toby rice ceo of eqt the largest natural gas pr producer he is here coming up in moments. an interview you don't want to miss. in the bond market, the 2-year yield has doubled since

early august that is an incredible move in rates. by the way, mortgage rates are creeping higher as well. in fact, inching toward 5% cryptocurrency and ethereum surging. bitcoin up $2,000. a lot of momentum in crypto. they all across the board higher again. around the world, a mixed session overnight in asia. tech stocks with a comeback. japan fell and asia rose and europe just getting started and mostly in the green. all of the major averages are higher we will have more throughout the day on cnbc. let's stick with the story from china that nation beginning the largest and most expensive covid lockdown in two years. apparently in order to conduct mass testing to try to control a

new outbreak in shanghai that as a city of more than 25 million people, three times larger than new york city. joining us with more on the situation on the ground is eunice yoon. eunice, good morning >> reporter: good morning, brian. shanghai in a nine-day lockdown. this lockdown is meant to mass test the city's entire population in two phases so, from today until friday, april 1st, the east side of the city is going to be restricted and then from friday to the following week, the west side of the city is going to go into lockdown what does that mean? it means that residents in those lockdown areas are going to have to stay in their homes unless of medical emergency or essential worker transportation will be suspended. non-essential companies will be

closed the staged lockdown after shanghai officials insisted all the way up to this weekend that the city wouldn't go into lockdown because they said the city is just too important for financial reasons and manufacturing reasons. a trade hub. officials said that the situation has become so serious and the infection so large scale they were not able to stick with the original scheme which was rolling lockdowns that were 48 hours and targeted and looking at different residences. brian, to give you perspective, shanghai reported 50 new cases and 3,450 asymptomatic cases china reacts strongly. >> 50? >> reporter: when the numbers would peeappear to be low yes. >> 50 new cases out of 25 million people

statistically that's zero. you have to go .0000 whatever percent. i get the goal i think the rest of the world has shown the strategy will not work it has not worked in any other country. china is different, eunice that is data, not opinion, by the way. what is the mood of the people i understand the government yields a strong hand in china. is there frustration among the population where people said this is enough >> reporter: yes, there's definitely a lot of frustration. several reports and have been for the past week from shanghai that people are mask hoarding. others who have even been critical of the china vaccine policy saying why don't you bring in the western vaccines that seem to be effective against this variant? not so widespread conversation

as you imagine given the politics there is frustration and in fact, one way the companies have been trying to deal with this situation is they are actually calling in their staff and have been this weekend to live at the office for the next four days. at least or for however long this comes on. people bringing in sleeping bags and towels companies cooking instant noodles for them and provide food there are some companies that have offices on the west and east side. those will create working set ups to operate a lot of disruption although officials say they will try to pursue president xi's policy of trying to mitigate the cost. >> port is still open. if you care about the supply chain, global markets do

to wrap it up, i want to make that clear china is saying you can go to work and be around your co- workers, even in a mask. you are asymptomatic before. a micro scopic virus whatever your view you can't do anything else these policies, eunice, don't make sense that said, it is their decision. finalize this for viewers. the vaccine that is used in china is different than the pfizer or moderna vaccines you just referenced that there is a belief maybe -- >> reporter: othe chinese vaccines are the only ones allowed here when you look at the effectiveness, they haven't necessarily been as effective against the omicron variant as the western ones have. that's where you see some

frustration. people do read some of the other reports that show new zealand or the u.s. there's been more effectiveness against the omicron variant with the american vaccines. people are aware it is not every single person in the country is aware it is frustrating to people here >> it has to be. by the way, much of the world is going to maskless on airplanes we may be that way in a couple of weeks i know it will take an incredible mental and emotional toll on the people as well eunice yoon, thank you very much covid zero policies have not worked anywhere. see if they work in china. to washington, d.c. with the white house trying to clarify and maybe walk back some of president biden's comments in warsaw, poland this weekend. where some off script talk, the president suggested the u.s. was

interested in a regime change in mo moscow this as ukraine and russia kickoff peace talks with fighting in the second month we have brie jackson with more on both. good morning, brie >> reporter: good morning, brian. president biden stepped up criticism of vladimir putin in recent days. some are worried this could escalate tension with russia president biden is not calling for regime change in russia. >> were you calling for regime change >> no. >> reporter: after making this comment about vladimir putin during a fiery speech in poland saturday. >> for god's sake, this man cannot remain in power >> reporter: secretary of state blinken reiterating the administration's stance. >> we do not have a regime change strategy in russia or anywhere else. >> reporter: republicans warn the remarks could escalate tension. >> it plays into the hands of the russian propagandists and

vladimir putin >> reporter: democrats say it is up to the russian people who is in power >> he is depleting critical resources from his nation for this awful war i just don't see how this ends well >> reporter: russian forces are struggling to make progress in the first month of the conflict. forcing them to scale back on their military goals there are concerns that battlefield failures will lead to more aggression from the kremlin. >> there are no red lines for putin. >> reporter: ukrainian leaders are ready to negotiate an end to the war, but won't surrender peace talks continue in turkey today. brian. >> nbc's brie jackson in washington brie, thank you very much. so while the white house works on the comments, his administration continues to hammer russia with sanctions

they will now announce a new series this week targeting russian companies. they say provide goods and services to the military and intelligence services. let's bring in daniel tannenbaum dan, good to have you back on. the sanctions are tough. russia is the most sanctioned large country in the world do they go far enough? >> thanks, brian the other thing to keep in mind beyond sanctions, 450 western business wes who exited russia that being said, you still have the situation where energy is largely fuelling funding this invasion into ukraine. >> is there any kind of new

specific sanction? one we or europe do not have on yet? maybe a direct sanction of oil and natural gas by europe? something they have not done and do not want to do? is there anything we can do that would be the vice grip on putin? >> the energy sanctions really are the further tightening of the vice grouip of putin. there is a concern of the scale of russian energy sanctions. you may begin with the deal announced last week with the u.s. supplying lng to europe which is not immediately fixed to the situation and replacing russian energy you may see the reduction of buying across europe and limitations on purchasing russian oil and lng. the other issue is secondary

sanctions which force foreign companies and countries from doing business with the target of sanctions from the u.s. or other western allies, but not both china and india, that continue to buy, you could have a situation where they are forced to choose through sanctions. they have a limited track record of being enforced. >> correct me, dan, eventually putin will be gone however and how is left up to history. do you believe sanctions will be left on even if the war ends as long as putin is in power? >> the u.s. doesn't have a great track report of regime change. sanctions will remain on for some time to come. if putin were out of power and the russian military to leave ukraine, these sanctions will be in place for some time to come erasing decades of economic growth we have seen in russia. >> tragic for the people, by the way, of russia who have done nothing wrong. this is putin's war.

daniel tannebaum thank you very much. we have more on this monday. when we come back, is it a recession warning sign or an odd bond market coincidence? ubs' mark weighs in. and later, history at the oscars not in the way you might think will smith hits chris rock live on stage it wasn't an act we're back right after this. what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience

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welcome back good morning we are continuing to watch not only the overall markets, but the bond market as well. we have a market alert for you you see that it's been a truly incredible move in rates. not only long-term yield surging, but the 5-year and 30-year bond yields. this could lead to inversion what does that mean? you are hearing a lot about that if you are new to the markets, shorter-term yield 2-year or t-bill go higher than longer yields. in the past, that has served as a recession warning sign what do we make of it now? the chief investment officer of ubs is here with us. mark, good to have you back on

again. do you think it will happen? it is getting close. if it does, is that necessarily some canary in a coal mine >> it is not necessarily going to point to recession in this case we have a lot more going on in the economy than we did 50 years ago when this was perhaps more of a reliable signal by more,have monetary intervention that we did not have going on then we have china economy and europe economy and u.s. economy with three cylinders instead of one now. >> you know, you look at everything that the global economy and american economy, mark, is dealing with. let's walk through it. inflation out of control and

going to get worse federal reserve aggressively tighten rates. the bond market has done the fed's job. whatever the fed ends up doing, you have putin's war in ukraine. yes, the second biggest economy in the world is locking down its biggest city with over 50 covid cases. the amount of stuff the market and investors are up against right now is truly incredible. >> absolutely. you know, how was the market responding to this cocktail of uncertainty? it was sending stocks higher in part because there's so few alternatives to equities right now because of the factors with inflation and higher rates the way that we're thinking about this is focused on the areas where there's less uncertainty. for us, that's around

commodities and energy related equities we think these sanctions are going to remain in place whatever happens with the peace talks which we certainly hope makes progress this is a terrible humanitarian tragedy. the other thing, of course, as you mentioned is inflation that's why we're looking at financial stocks and u.s. senior loans. we are seeing some value in the investment create bond market. >> what you said is a very important point, mark. we just talked about that in the previous segment with dan tannebaum. let's haope the war ends tomorrow if putin is out of power, the sanctions remain i'm sure ubs has its own house view that is the recognition of his role as a war criminal in the world. you are talking to clients and

saying if and when the war ends, don't expect inflation and correct me if i'm wrong, mark, to simply go away. >> there are two parts of that the historical record shows sanctions tends to be sticky regardless of the outcomes also what is supporting the commodity complex and energy equities is we do see a stronger world economy as things come out of covid into the back half of the year that means we can be a little weaker because of the things that have gone on and demand around higher energy costs reality is the demand for oil and energy is going to be strong into the back half of the year that will be supportive. on the other commocommodities, s not just the ukrainian crisis,

but we're in drought in most parts of the world demand picture is also supporting this into the back half of the year you know, on the inflation picture. >> yeah. >> commodities are supported in the energy equities. inflation picture. we are hopeful that the inflation pressure will back off in the second half of the year that will give the fed more flexibility. >> commodities and energy equities remain the place to be. mark, we appreciate you coming on thank you very much. have a wonderful day on deck, the president hoping to ship more american natural gas to europe. is this a pat on the back that the fossil fuel industry has been waiting for we have the latest with toby rice with eqt. his take on the landmark eu deal

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hitting chris rock over a joke gone wrong we have frances rivera with more from new york. odd scene, frances >> a lot of people thought it was a joke it was the real deal slap heard around the world late in the oscars. chris rock told a joke about jada pinkett smith because her head is shaved she spoken about the experiencing hair loss due to alopecia that joke did not sit well with will smith he walked up on stage and slapped the comedian >> wow wow. will smith just smacked the [ bleep ] out of me he >> out your bleeping mouth >> wow dude it was a g.i. jane joke.

>> keep my wife's name out your [ bleep ] mouth. >> i'm going to. >> shocked and the tone changed. with the anticipation with the best actor award which smith won for "king richard. in a tearful speech, he talked about being the defender of his family. >> i'm being called on in my life to love people and to protect people and to be a river to my people i want to apologize to the academy and apologize to my fellow nominees. >> well, the oscars saw a number of historical wins and losses. "west side story" and troy

kotsur the first deaf man to win for "coda. and then jane campion won for "the power of the dog. and then jessica chastain won for "the eyes of tammy faye. and "coda" won in the category echo sounds of the slap literally is everything and all that everyone is talking about this morning you know, the oscars did not air it when he it was live they clipped it and censored it out. everywhere online this morning when people wake up. >> listen, will smith talked about the marital issues he had. many magazine articles about that kudos to chris rock. he held it together.

it was a slap. it was a hard hit. he held it together and tried to keep going over what was a bizarre thing. on a happy note, have you seen "coda" frances >> no. i'm glad you are saying it say family friendly film i'll get all of us into it >> it is my 18-year-old enjoyed it. my 7-year-old enjoyed it it is what movies should be. small budget beautifully acted. a beautiful story. if you don't have a couple of tears, happy tears at the end. i'm not sure i can do anything for you. we watched it three times, frances. just a terrific film by the way, the main actress, a superstar. frances, thank you >> sure. ahead, back to business. the uk preparing sweeping sets of regulations when it comes to crypto cnbc report straight ahead dow futures are up a bit

oil prices are down. we're back after this.

the markets, stocks looking to keep the recent momentum going as investors gear up for a huge week of market data futures are slightly lower on monday morning oil is lower on another china covid lockdown. this is what a major bank warns

of a spike and crash for crude the ceo of eqt is here and the biden administration taking on america's billionaires looking to usher in a new minimum tax on all their wealth. it is monday, march 28th this is "worldwide exchange" here on cnbc welcome or welcome back. 5:30 on monday thanks for joining us. i'm brian sullivan let's get to the markets and your money stock futures are mildly lower i hate to say that it is accurate look at that dow up a little bit. s&p done a little bit. flip a coin and markets can go anywhere it wants. mixed to flat on a monday. coming off two decent weeks for

the equity markets in a tough year in bonds, 10-year yield continues to tick higher yield is now more than double since early august think about that doubling in just over seven months incredible move in the bond market and rates you may not care about bonds you probably care about mortgages and real estate. mortgage rates rising. they will keep rising in the weeks head average 30-year fixed rate is 4.5% it was over 3% for much of last year think about that gain. 50% jump in mortgage rates in just a couple of weeks let's get more on oil and natural gas. oil leading stocks you noticed oil goes up. stocks tend to go down and vice versa. oil down a lot off $10 a barrel that is because of the increasing lockdowns in china. by the way, just announced a rolling two-stage lockdown of

shanghai 25 million people over what eunice yoon said was 50, 5-0, covid cases. oil down 4%. by the way, that could ease pricing pressure we have seen la lately bank of america out with a very interesting note over the weekend on oil they see a quote spike and crash scenario for oil this year and next the analysts have three scenarios for brent crude this year all of them are bullish. $130 or $150 or $200 for brent crude because of capital discipline and easing slowing down the supply response b bofa looking to raise rates. in france and europe, price of the gallon of gasoline is

nearing or at $10 u.s. per gallon let's stay with the energy and the landmark deal or agreement to help the eu wean off russian oil. increasing natural gas exports to the eu by 65% joining us is toby rice. ceo of eqt toby, i appreciate you coming on a very important time and very important topic. first off, this is kind of a handshake agreement. do you believe it will occur and the u.s. will export a lot more natural gas to europe? >> sully, thanks for having me here we look at the announcement as

the first step toward achieving our goal of energy security to the world. biden's posture on saying the united states will play amajor role in delivering natural gas is big for european. this is the big first step this is the political signal we needed to see. what we can do in the united states is more than announced. to put these numbers in american terms, we are talking in the short-term increasing capacity by 1.5 bcf per day in the short-term, 5 bcf per day through 2030 what can we do in the united states pump numbers up tenfold. we have the capacity for exports by over 50 bcf a day when you step back and look at the world, not just europe, you realize natural gas demand will soar

united states lng needs to step up and serve volumes. >> can they? can the industry accomplish those goals? if you can get it out of the ground, toby, can you get that natural gas to market given the reluctance to permit or build pipelines? >> look at the resource. we have detailed analysis on this we posted this on the web site first off, look at the resource. we have the resource with everything we explored today, we have the ability to increase gas production here in the united states by over 50 bcf per day and hold it there for decades. we have the resource the question comes in. can we get it to market? the challenging part for us to achieve the plan needs one thing. build pipelines and lng facilities faster than before. i will step back and say in less than six years, the united states is the world leader in

lng exporters. we have done this before we need more cooperation to make it happen. a lot of the opposition to efforts and despite the opposition, we have been able to do amazing things. the opposition has come because of the concerns of the environment. this is the best part of our plan when you unleash ln dpg, this wl be used to replace foreign coal. the impact is tremendous, sully. unleashing u.s. lng will eleel electric every house it is absolutely the biggest green initiative on the planet >> this is what i think people need to understand i tweeted this over the weekend,

toby this is not a this or that it is all in population growth and demand for power and electricity. you can say the demand side is wrong and we should cut back that is a different argument if demand trends continue which later in the show i'll show why we need more power the demand for everything is going to be needed to your point, you have italy firing up old coal plants. germany doing the same thing china doesn't chare about the cli climate. they are cranking more coal. >> i'll give you another stat, sully. this will surprise you to show the critical importance of energy. since the conflict began in ukraine, you would think and hear the push for the world to shutoff and restrict russian exports. russia is selling more energy

now. 25% more energy now than they were before the conflict began that is incredible we lukook at the need for energy focus on solar energy and wind they are not able to offset the source of emissions around the world. just in the last 12 months, to put this in perspective, in the last 12 months, emissions from coal have risen 500 million tons of co2 per year. that eliminates all of the benefits we have done from solar and wind over the last 15 years. if you care about the environment, you need a heavyweight solution to offset the heavyweight problem which is foreign coal that heavyweight solution is the united states lng. >> also, so many things in r rene renewables fiberglass and aluminum for the solar panels rely on natural gas to produce the power to make

these things higher prices hurt renewables. importing natural gas to boston from trinidad because they did not have enough to make power this winter. you have giant natural gas fields close to new england. will we ever change our popipeln pop policy we are burning wood and dung to make power 100 miles from your gas fields. >> sully, you are talking about new england and where my mom lives and where i grew up. i hope we will take a signal or learn from what we see in europe and realize energy security is not just in the lack is not confined to europe you see other places around the united states where you see major signals of energy insecurity like in new england where january 31st, they were paying $30 for natural gas

that's very -- it makes you ju scratch your head. we have the biggest field 200 miles away the good news is there's about 7 bcf per day of pipeline projects on the table that would serve new england. not just new england, but eastern part of the united states the energy security is challenged bp has one pipeline built and bring energy security to the southeastern portion of the united states. >> we are learning sadly that energy security is security. 250% jump in wholesale rates in boston over last year. toby rice, thank you very much have a great day >> thanks, a lot. coming up, president biden looking to unveil a new plan taking on taxes for the ultra,

ultra rich ylan mui is here to layout just how much might be paying "worldwide exchange" is back in a moment based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice? i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ameriprise financial.

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solutions to be able to interact and invest in the financial markets. younger investors today are engaging in social media in ways that we've never seen in the past. they're in forums, actively engaging with their peers on certain topics and certain investment ideas. 75% of them believe that their investment decisions can influence climate change, and 90% of them want sustainable investing options in their 401(k). they believe that they can really impact with their investment dollars more so than prior generations. i'm naeema huq abrar, and we are morgan stanley. welcome back stock futures are flat on monday morning. let's pivot and talk taxes president biden set to take on america's wealthiest of how much they are paying or not paying in taxes. ylan mui with details the white

house plan of tax on the billionaires ylan >> reporter: good morning, brian. this is part of the president's budget in which he lays out vision for investing in america which is paid for by the wealthy. the official tells me proposals are focused on three priorities. fiscal responsibility, safety and security and building a better america now on the first point, the administration said the budget will reduce the deficit by more than $1 trillion over the next decade that's partly through lower spending as the federal government pandemic programs end and more revenue from the strong economy. biden is proposing to raise taxes on the rich. the white house is calling this a billionaire's income tax it would hit those worth $100 million or more with a 20% minimum tax on all income, including unrealized gains the administration says this would raise $360 billion over a

decade only the top .01% of houses affected that would help pay for a major increase on security at home and abroad and from military to policing it will address rising costs, particularly prescription drugs. this is a white house wish list. brian, it sets the agenda in washington for the policies democrats pursue the rest of the year >> all right what's the likelihood of this occurring? i should have asked toby rice about this >> reporter: this has been proposed before. a similar proposal from the head of the senate finance committee when wthe discussions around build back better was still alive. that did not get far democrats were split on it on the house side, democrats

pursuing a different proposal which would put a 3% sur tax on millionaires there is a discussion whether or not this is feasible because it is so new and untested it will take a lot of work for members to understand what this is >> we'll see if this can get through and what has been a tough time ylan mui, we appreciate your time this morning. possible tax coming along. thank you very much. have a great day > a short break and we're back with stephanie link right after this

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welcome back good monday morning. look at stock futures. they are not doing a lot flat to slightly down. who knows? it doesn't matter. we have a big week this week in fact, a lot of economic data. consumer confidence numbers tomorrow you have real gdp along with personal income and spending on wednesday. you have the jolt survey

tomorrow the monthly jobs number on friday finally getting real economic data after inflation has taken a bite joining us now is stephanie link strategist at hightower and cnbc contributor. the one i did not mention, stephanie, which is boring is the pce on thursday. that's the real inflation gauge we will get since the second leg of inflation pit after the invasion of ukraine by vladimir putin. what are you watching the most closely this week? >> thanks for having me, brian pce is important that is what the fed looks at and it is coming in strong probably 6.4% annualized that is higher than the fed wants it to be it is not just the pce deflator.

we talked about cpi and ppi and labor costs which are strong non-farm payroll number. the wage component is very important. i think that will be pretty hot at 5.5%. remember last month, it came in at 5.1% which was less than expected that is because you had a shift to travel and leisure workers which are lower paid versus technology and utility that is a big number to watch for sure >> it is obviously two legs inflation was red hot before putin decided to go in with his unwinable war in ukraine that lit the match under it. these numbers with important to the federal reserve. stephanie, the bond market, no offense to the fed or federal reserve at all, hasn't the bond market done the job of the federal reserve in some ways ten-year yield has doubled in

seven months. >> inflation is also just rampant and it is everywhere i don't think if they were, the fed to raise rates, eight times which is what the bond market is pricing in, i don't think that slows gdp growth materially. it will to some extent it will not do anything in terms of inflation supply chains are a big problem and cause for inflation. that has to get fixed. we will get micron this week with earnings. listen to what they say about the supply chain i don't think it will be pretty. >> that is a company you like? micron you throwing that out randomly on monday morning? >> i'm throwing it out andomly it is cheap. a value cyclical company they have done a really good job of execution i prefer others like nxpi or

broadcomm with more steady business rather than the up and down peaks to trough numbers it will be a good tell on demand and supply chains. >> you know, with all due respect to the all important jobs numbers on friday, i think the job opening labor survey numbers shows how many open jobs it feels like we're at peak employment it sounds weird to say that. unemployment claims are going down lowest level since 1969. is this a reason you like paychex because the job market is insanely hot? >> they will benefit from higher interest rates as well outsourcing has been on fire accenture told us two weeks ago. raised guidance again. i think the only problem with

paychex is trading at 35 times earnings this market doesn't want 35 times earnings is a value type of market. last week was interesting. growth did out perform value for the second straight week it could be some continued reversion on the growth trade pause you know year to tate value has out performed 500 basis points you could see catch up i have been adding on the technology side in my portfolio. i have been under weight for the last year. that is an area to watch especially when you get companies like micron and paychex with good data points this week. >> big earnings. comments going forward are key for micron and paychex and others a busy week. stephanie link, we love having you on see you soon that does it for us on a busy "worldwide exchange." we are back tomorrow same time

and same bat channel "squawk box" is picking up the coverage next. have a great day wherever you may be at xfinity, we live and work in the same neighborhood as you. we're always working to keep you connected to what you love. and now, we're working to bring you the next generation of wifi. it's ultra-fast. faster than a gig. supersonic wifi. only from xfinity. it can power hundreds of devices with three times the bandwidth. so your growing wifi needs will be met. supersonic wifi only from us... xfinity.

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overhaul the tax code. we have details of which groups and companies could pay more. volodymyr zelenskyy is ready to discuss a new status with peace talks. high drama at the oscars will smith slapping chris rock over a joke about smith's wife's hair a big night for streaming services it is monday, march 28th coming in like a lion and going out like a lamb on thursday. it's 20 degrees here "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc i'm rebecca quick along with