it is 5:00 a.m. at cnbc. here is your top five at 5:00. stocks trying to stop the april losing streaks futures hanging in there as earnings begin to rollout. another fed member talking record high prices making the case for a more aggressive approach. china's president standing by the crushing covid measures. and relief for potential home buyers and rates tick back below 5% our interview with the ceo of the howard hughes corporation.

and no relief in the grocery aisle. morning rbi on how much food prices are surging chef david burke is here talking about higher prices and what it means for his restaurants. it is thursday, april 14th this is "worldwide exchange. good morning, good afternoon or good evening. welcome from wherever in the world you are watching i'm brian sullivan thank you for joining us on this busy friday -- i know it's not friday we're off tomorrow from a business day, why not a check on the markets and your money. stock futures are flat to mixed. not seeing any trend we have dow up a little bit. s&p down a bit stocks snapping the three-day

losing streak on wednesday nasdaq had a big day up 2% despite the gains, all three indexes are lower on this holiday shortened week down a couple for the month. remember, tomorrow is a market holiday. we and, hopefully you, are off for easter and passover. it could be a volatile day today. according to goldman sachs $1 trillion of options set to expire today and quarterly reports on tap this morning including citigroup and goldman sachs and morgan stanley and wells fargo. also, check on bonds the ten-year yield is down a bit as bonds get bought. yield under 2.7% off the pop on wednesday, oil down a touch from yesterday. just over $103 per barrel. let's go around the world

and check the trading in europe ahead of the anticipated rate call of the european central bank today rosanna lockwood is in the london newsroom with the trade and expectations rosanna, good morning. >> reporter: good morning, brian. happy fake friday. i think that is a relevant point. a lot of analysis of the muted mixed picture. it is the same here in europe this morning it is something to do with end of week positioning a day earlier. we see the decision. give you a look at the ftse 100 down .25% in the red here in london elsewhere in europe, strength. nothing shocking a few corporate stories out there. nothing moving the market. same thing about inflation the cac 40 in paris, .37% higher let's give you a look at the sectors as we head into the session. oil and gas down .50%.

travel up 1.5% expecting a busy weekend at airports for people traveling for easter and banks, we had bank earnings from the u.s it is feeding into positivity the ecb decision later today firmly no policy changes expected we were speaking to someone this morning. don't expect one until 25 bips until october. we had other rate hikes. brian, not expected to move much >> rosanna, is part of that because, you know, unlike here, we are facing mildly higher prices and inflation is a big deal electricity costs are up 5 to 6 times our. is the ecb dovish because consumers in europe and uk are already -- we think inflation's

bad here you are really getting crushed by higher power costs. >> reporter: yeah, i'm confused by that, too, brian. a question asked in the last hour how the ecb is confident especially the proximity of the war within europe and the rising energy prices which have been through the roof here in europe. yet, the ecb is confident in not moving with the second around figures which bake into wages. i'm at a loss here we expect to hear a lot of options and flexibility and graduality they may mention recession today as well. >> we will wait the "r" word rosanna lockwood, thank you. facing five times the power costs that we are here in some cases. all right. to the top stories here. including china's president standing his ground over that

country's extreme covid policies silvana henao is here with that and more >> reporter: brian, good morning. xi jinping says his government will stick with the zero tolerance approach when it comes to combating covid xi stressed that when it comes to the government protocols is essential for combating the virus. this is over public anger over lockdown orders and including millions in the city of shanghai which is facing shortages of food and medical supplies. a top lawyer for the state of california who recently resigned is accusing governor newsom of interfering with the act activision case. another lawyer in the case quit in protest of the firing lawyersrepresenting the women

tell cnbc's steve covak is the one woman's firing is the failed notice of how the issue was going. another federal reserve chief is making the case for more aggressive action by the central bank inflation speaking with cnbc yesterday, christopher waller said that the pace of price increases may have peaked >> we might be at peak and start seeing relief on this in the next coming months it doesn't relieve of the job to an accommodation to get inflation down >> reporter: brian, waller said the fed will hike by 50 basis

points at the meeting in may and possibly follow-up with similar moves in the next several months >> yeah. we'll see about that silvana henao, thank you speaking of inflation, interest rates and earnings, they are the headlines today also focus on something happening under the hood of the stock market today is a huge day for options expiration in fact, more than $1 trillion worth of options are expiring today. goldman sachs notes that includes $495 billion in single stock diffederivitives. that could add to the volatility it all comes as stocks are suffering in april with all of the major averages lower. let's talk about this and the fed with joe fahmy

joe, i was being snarky about the fed. they can say what they want ove what they are doing later on in the year is it possible that the federal reserve, while everyone saying they raise rates 100 times they could change on a dime. could they not >> of course i think they could be flexible based on market conditions i have been saying that i feel there is limited upside right now until the fed changes or ends the hawkish tone. i have been bullish since the pandemic lows for two main reasons. technicals were improving and the fed was providing all of this insane an accommodation not only by keeping interest rates low, but with all their bond buying. more treasury purchases in the six weeks following the pandemic than nine year combined between

2009 and 2018. they continued with that $120 billion a month in bond purchases. when i appeared on your network in mid-december of last year, i turned cautious for the opposite two reasons. that the technicals were starting to breakdown and the fed was taking away all of this an accommodation not only ending the bond buying, but raising rates this year and potentially reducing the balance sheet. my conclusion is that the markets unlikely to see sustained upside until this rate hiking cycle ends or at least until they do a couple of hikes and pause. i also want to stress it doesn't mean the market has to fall apart. it just means we could possibly be in a range to digest last year's gains there is still tremendous opportunities in the market out there especially in the energy commodity related pharma area.

you have to be patient and wait for the rate hiking cycle to end before sustained upside. >> joe, you are being way too nice the fed is not just ending accommodation. it is not just taking the candy out of the kid's mouth it is taking the candy out of the kid's mouth, stoppmping on and throwing it in the garbage this is going to be fast and violent. you say when they're done hiking rates. when do you think that's going to be? >> that's a great question it depends how aggressive they want to be if you want to use the 2018 analogy, they were raising rates all through 2018 and continued through the fall of 2018 they did not end until the s&p corrected 20%. that is when powell pivoted in

2019 that is one example. the other example is maybe it ends when they reach certain goals. maybe they want to get to a certain feds fund rate as long as it doesn't break the market the other thing i was thinking about is midterm election years tend to bottom august or september. this could go on for several months until the fed reaches objectives that's why i'm stressing to be patient and defensive until the cycle is done. >> do you think oil stocks or energy stocks are a good bet here, joe? >> it's the main thing working it doesn't matter if it is 90 o 105. it doesn't matter. they have the models based on $50 or $60 oil i think people will be shocked with the profits these companies really have. >> congress will be happy about

that, joe. you know they will love higher profits for the oil companies. sorry. little thursday snark. joe fahmy, i appreciate it >> thank you take care. when we come back, are higher borrowing costs going to crush hous housing? you will hear from one of the biggest developers on that plus, a bevy of big bank earnings set to hit the tape we preview the numbers that you really have to watch. starbucks ramping up the fight against unionization we have a busy thursday. "wex" is right back after this short break. r someone to be able to work from here, there has to be someone here making sure everything is safe. secure. consistent. so log in from here. or here. assured that someone is here ready to fix anything. anytime. anywhere. even here.

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welcome back let's talk housing 30-year mortgages above 5% for borrows for the first time in years. all that as prices hit record highs making homes more expensive. so what does one of america's biggest real estate developers think about this we found out we sat down with howard hughes corporation ceo david o'reilly about that they are developing the ranch complex from arizona we started the conversation about asking how worried they are about higher rates >> as the longest owner of the planned communities across the country and largest seller of land to home buildingers, we

have insight the spike is having an impact on home sales we hhave seen a decline across the u.s. in certain markets and those warmer less expensive business friendly quality of life markets like phoenix, houston and las vegas, we have seen home sales increase into 2022 despite higher rates that is driven by the afford affordability. that is driven by the quality of life and what you get for your money in a great market. >> you guys just bought your first planned community. douglas ranch in arizona, west of phoenix, first since going public it will be one of the biggest in america when it is completed it sounds like you are saying, david, the builders who come in are going to be able to slightly

reduce the cost of the homes or size or materials to keep affordability where it needs to be are they able to do that keep that monthly payment, which is all important, around the same level >> critically important. i believe we're able to do that. it is not just that monthly payment as it relates to somebody who lives next door and moving across the country. if you think about what is going on in the country. the migratory patterns from the northeast to the midwest and into the warmer markets hasn't changed. that is driving the volume we see today. if you look at the median income of the average price home in a market in houston, $68,000. phoenix is $75,000 you compare that to san francisco. $226,000 it is clear it is affordable in terms of what it costs to buy a home in the markets compared to

the other cities >> yeah. it sounds like you are not worried about the affordability with the rates the other concern and i know you spoke with diana olick recently. this is a big project in a dry area, david. can you say to the people who buy in the developers you will have enough water? >> absolutely. i'm telling me employees and employees' children we will have enough water we would not do this if we didn't believe there was enough water for the next year and ten years and forever. making sure we are building smart and eco friendly this company was started by jim roush. this is part of the fabric of what we do that will not change in douglas ra ranch. >> whether it is an aquifer or capturing rain or all of the

above? >> all of the above. we are sitting on top of the river basin. we have access to the central arizona project. we have gray water retention system to self use reclamation to back fill the ground water and irrigate the common areas. low flow fixtures and drip technology to reduce the amount of water we need at douglas ranch. we partnered with a market leader and global leader in smart engineering solutions. we identified over 220,000 acre feet per year of water saving opportunities. an amount that is more than what we need at douglas ranch at full build up. >> that is comforting news it has been a scary time with droughts speaking of water, the seaport in new york city you took it over and changed it and redeveloped it you have the tin building.

jean-george has the building now the apartment at 250 water street new york suffered as you know in the last couple years, david, for obvious reasons. it sounds like you are not hesitant about building out in new york city. >> everywhere we build new york city or hawaii as you see behind me or in the desert of phoenix, it is all about resiliency all about building sustainably we raised it above the flood plane. we protect it from any potential storm. as we develop 250 water street, it is built in a sustainable way. >> when you look at the map and maybe think about future developments, it is clear, an l aside from the bullishness on manhattan, americans are moving south and west

when you look at development, is that the future of the united states is that everything you do with the exception of new york city >> again, we are committed to the communities in the warmer business friendly markets which are south and west we agree with that thesis. as we have gone our foundational research, we found almost 50% of americans are considering moving over the next two years. many of those moves, i believe, will continue to be warmer, less expensive markets. texas is the number one u-haul state in the country for a reason it has a great quality of life it has affordability access to great health care and education as we see here in houston. >> isn't that amazing? 50% of people in parts of the country may be looking to move when it's 35 degrees and raining in late march, you get it. thank you, david o'reilly.

that stock ticker is hhe the chairman of howard hughes corp david o'reilly. and the u.s. sending more weapons to ukraine what we are doing to help that nation win the war coming up i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones

welcome or welcome back.

let's get a check of the other top headlines, including the latest on the capture of the suspect in the new york city subway shooting. frances rivera is in new york with that and more frances, good morning. >> brian, good morning the man suspected in the subway shooting is due in court today 62-year-old frank james was taken into custody yesterday after calling the tip line on himself. he told police he was at a mcdonald's in the east village james is facing charges for the rampage that wounded 10 people and injured 13 others. and a plea from volodymyr zelenskyy, the white house announces additional $800 million to ukraine it will include m-1 helicopters and artillery guns and armor systems and switchblade drones.

and samples of moon dust collected from neil armstrong sold in new york it was collected during the apollo 11 mission in 1969. the samples were expected to sell for over $1 million, but they fetched far below that. those are the headlines for this thursday back to you, brian. >> wasn't that a van morrison song a marvelous night for a moon -- >> moon dust with dance. >> i tried >> okay. >> frances rivera, thank you very much. still on deck, your morning rbi and how much food costs may surge again. plus, the legal fight tesla is in the middle of taking a new

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inflation nation can stocks make you any more money as costs surge and the fed races to catch up? big banks busting out numbers. we hit the numbers you need to know about. and morning rbi. random but increasing. david burke is here live and

talking about food costs growing out of control it is thursday, april 14th this is "worldwide exchange. welcome or welcome back. good thursday morning. it is exactly 5:30 a.m. on the n nose good morning let's jump in and the markets and your money stock futures are not giving us indication about the market day. dow futures slightly up. nasdaq slightly up s&p slightly down. reminder tomorrow is a stock market holiday. no trading on friday for good friday that doesn't mean it will not be a volatile day goldman sachs notes there is more than $1 trillion in stock and indexed options expiring today. it could, not will, but could get wild later on. over the first time in a long

time, bonds are getting bought ten-year government note yield are coming down a bit. if you aren't paying attention to this, you should be that is the american dollar. the dollar index which is the dollar against the basket of other world currencies is now higher for ten straight days that is the first time that has happened in six years. could be an rbi. higher dollar sounds good, but it makes it more expensive for american companies to sell their goods around the world and it acts like a tightening federal res reserve. watch the greenback. here is what else is happening. starbucks preparing to launch a campaign against unionization. newly returned ceo howard

shu benefits package federal law requires negotiated contracts for union represented workers. a federal judge reduced the amount of damages to a former tesla employee who sued for racial discrimination. the judge citing precedent calling the original damages excese exce excessive. and bausch health probe over skin drugs the treatments are promoted for uses not approved by regulators. that stock down just a touch it is a big day for big banks and investors. citi citigroup, wells fargo, morgan stanley and goldman sachs

rolling out numbers. all this after jpmorgan chase reported yesterday and beating many and spooking some others. jamie dimon calling for a slowdown ahead what to watch today? we have ken leon with cfra ken, markets, rates, war, what are the one or two key things that you are watching for the most today >> it is really management worry about run away inflation and geopolitical risk. that sets up the conversation related to the consumer for loans and what ceos think about raising money for m&a or investment ultimately if we are getting a shift back to a higher credit risk exposure. all three of these are being affected as you said, brian, because of the macro back drop

>> you heard jamie dimon comments the numbers for jpmorgan chase, ken, the numbers seemed okay not great. okay writedowns reporting on to russia jamie is more vocal than other ceos of the other companies. do you expect these numbers to be good and maybe ceos coming out and putting up a warning flare? >> we are not firing on all cylinders as we did in 2021. obviously the most glaring is the capital markets. the consumer is the one. we are instead of batting 4 for 4, we are 2 for 4 and strength

in credit card spending and personal loans the mortgage market and loan activity is down significantly as you know, brian, auto loans are down because there are not any cars out there we are getting hit here and there. what that means is it will be hard to really have a strong trend for performance for 2022 >> is investment banking going to be strong trading? how does this market, stock market reversal in the first three months of the year and higher rates, ken, impact the rates going forward? >> going forward, market volatility will benefit trading and fixed income currents and commoditi commodities. those areas will do well as long as we don't go into the bear market, we will have strong trading. equity, underwriting and mpos.

those are the fee-based areas that are likely to be not as strong as last year. putting that to the side, we get the bull case scenario rising rate and steepening yield curve. they will calibrate well if we go up 50 or 100 basis points to rates. that means billions of dollars later this year. that will be the best thing we hear today >> you know, sort of the common wi wisdom, which i'm nervous about. as rates go up, bank stocks go up we find now, ken, as rates go up, it doesn't mean big banks are necessarily going to soar. why aren't higher rates making the banks boom right now >> jpmorgan chase on net interest spreads were puny

i think the real concern is we get 7 or 8 rate increases from the fed with a couple coming up early at 50 basis points that's going to help when you look at the overall picture and it gets back to my point about the consumer, when we move from quantitative easing to kwquantitative tightening frm the fed, that means you make money off the rising rates to me, that is the premier story for 2022 >> citigroup was an $80 stock on june 1st last year it is a $50 stock now as rates go up. ken, we know you have a busy day. thanks for taking time with us on cnbc. have a great day appreciate it. take care. on deck, your morning rbi on why food may get more expensive. celebrity chef david burke is

here talking about how he is running restaurants and opening new ones in the crazy environment. david burke is next. alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots. we going to the league!

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guess it's on maggie. plan today. feel comfortable about tomorrow. massmutual. it is time for the morning rbi. most random, but interesting thing of the day, cnbc style we will tell you something you already know food prices. by the way, they're higher

you feel it every time you go to the store or out to eat. did you know exactly how pricey things are getting you may not, but we do almost everything you buy has a commodity future tied to it. those are prices we here at cnbc can easily look up the numbers are not easy to look at with the food inflation and futures contract price increases. the price of wheat this year, those are all year-to-date moves. price of wheat up 45%. ukraine is a global exporter that number could go up. lean hogs. bacon. up 44% feed costs on the rise any animal will cost more to raise. corn is 31% higher now the white house wants to reverse the ban on corn infused gasoline that could lead to higher corn

costs as they have more demand for gasoline orange juice up 30% and soybeans up 25% live cattle, beef, down 2% the only contract lower this year although, you should note that is the futures price actual beef costs keep going up. i'll talk about that in a second with david burke however high food costs are now, they may go higher farmers are buying astronomical prices for fertilizer. three or four or five times in recent years they have to pass those costs on to you to survive. speaking of fertilizer, by the way, maybe we need to toot our own fertilizer horn. we were the first ones to talk about fertilizer prices. in a former life, i traded that before getting into this gig

we talk about fertilizer costs on september 17th, may benefit from what is going on from natural gas prices since that talk and tweet, shares of both have doubled. cf industries up 122%. mosaic is up 127%. we can't own stocks here at cnbc, but you can. hopefully you bought some of those back then. not on our word, but smart enough to do it because if you did, it might help pay for some of these higher food costs random, but expensive. let's talk about this with somebody who knows more about it than all of us combined and impacting the consumers and restaurant business. let's bring in david burke he is owner of 18 restaurants in new york and new jersey and saudi arabia as well one of the world's best known chefs and founder of the goat in

new jersey david burke, we love you are investing in new jersey. thank you very much. you are probably listening me to talk about beef contracts down 2% and as you want to punch me through the television, i guarantee you, there is no way your beef costs are down. >> no, good morning. our costs are not down i thought that was a mistake that is live cattle. in order to get that young cattle up to the right size with the feed and shipping with the gas prices and butchering and labor prices, you are paying more for the final product >> yeah. you don't want to serve live cattle i heard of rare, but that would be extreme how bad are your costs, david, right now? >> you know, everything is related. our prices -- seafood prices are

ridiculous on most things. we are starting to come into warmer weather the fishermen need to fuel the boat they will pass that cost on. lobster prices and scallops prices they have a surplus with those items off the menu we have to pivot we have to change the menu and work changing the menu, not one, but printing and paper goods are through the roof gloves in the kitchen are through the roof an lot of deep fryer oil we don't look at that, but the protein prices and all of those ancillary things are through the roof with pricing. eggs, like you said. eggs and all types of things wheat. our bread used to cost 80 cents a roll it is now $2 a roll.

prices are tight prices are high. >> labor costs are also going up you are one of the most well known chefs in the world i imagine people want to work for you. where i live in new jersey, restaurants are struggling to find it. is the labor market getting better do you see things easing up a little bit >> thank you, by the way, for the compliment the labor market is easier from the height of the pandemic people don't want on to drive that far to work because of gas. i have people who live an hour away that say they cannot afford to drive they need a bonus or supplement. they cannot afford to drive back and forth. who it is 30 miles or 40 miles or are whatever it is per day. the labor is not the same. a lot of people were disenchanted during the pandemic and switched careers

less people are available. some people were tofortunate tob staffed. now our training team has to work harder. we are training people and paying people more with less and having to spend more money on trainers to get them up to speed. >> i don't know, chef, if you have a crystal ball, you lived through a lot. i have lived through it with you with new york city restaurants and economic crises. do you have a point of view where things will be for the next year? >> we have have hope. we have bills backed up from covid. we were closed down. we have bills from the closed down period. we got financial help from the government which was appreciated. some of that has low interest pay back there is also bills that did not go away that we've got

furloughed or set back a few months we still have to catch up on those. with this type of setback or struggle from the bottom line, we have delays on the profitability and cuts down on the profitability and takes the wind out of your sails we are well known. we attract good people we think we run a really good ship tight is tight you know, you will have to pass it on. you will see higher prices this summer in most restaurants as we try to be as fair as possible. when a consumer sees it. go ahead >> when the price of a roll, chef, guess from 70 cents to $2, you caught our attention you will see red horse >> you will see somebody charging $17 for bread >> i will not.

don't get upset if i skip the bread. >> we'll have a healthier nation >> david burke, i appreciate it. >> all right >> east brunswick, new jersey and couple restaurants in saudi arabia now david burke. thank you forg getting up early forus. he probably just went to bed. earnings season set to go into overdrive with the corporate numbers coming up. we have patrick palfrey coming up futures are mixed to slightly higher if you haven't already, a nudge, follow our podcast it is available on all of the major platforms if you are sleeping right now, you can listen later we're back after this. hybrid work is here. it's there. it's everywhere. but for someone to be able to work from here, there has to be someone here making sure everything is safe. secure.

consistent. so log in from here. or here. assured that someone is here ready to fix anything. anytime. anywhere. even here. that's because nobody... and i mean nobody... makes hybrid work, work better. (fisher investments) it's easy to think that all money managers are pretty much the same, makes hybrid work, but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher investments. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different.

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welcome to earnings season it happens four times a year like the other seasons today rolls on with the reports from the big four like morgan stanley and wells fargo and goldman sachs. bank of america and ibm and united airlines and tesla and i'll not read the rest s&p earnings are expected to grow 4.5% in the first quarter you factor in the surprises like the earnings could grow 10% for the fifth straight quarter does that mean stocks will go up we have patrick palfrey with us. patrick, guidance is better. what are you and your team expecting from earnings and from the stock market

>> focus this earnings season is what is going with margins you referenced that 4.5% growth. we are seeing 11% revenue growth that is tremendous that is what you are unanticipating what we see as a result is the pessimism coming through potentially concerns around margins. it is not to say they're unfounded. i think they may be overblown in particular, if you strip out financials which are penalized from the losers last year. the actual margin in the market looks positive there is a lot of moving pieces. margin is the key focus this earnings season. >> there are any groups of equity, patrick, single stocks

or sectors that are able to better weather this inflationary storm? >> so, we are recommending investors continue to look at groups closer to the commodity right now, inflation is a big pos positive i think real assets are moving up as a result sectors like energy and materials and industrials are actually benefitting from commodity increases. they have pricing power. they can pass that through you asked where we think stocks go on the back of this that is the key. margins hold in and demonstrate the pricing power we expect them to see, ultimately, the earnings held up well this year the decline in the stock market is the key inflation we need to see the pricing power

in margins >> our commodity based companies, oil, fertilizer, anything based on commodities, patrick, are they looking better than other groups? the markets seem to be saying so with the price action. what do you think? >> we do think they look better than other groups. they are still experiencing tremendous earnings. cyclicals is expected to grow 40% this quarter that includes energy you get a bounce industrials and materials continue to look strong. we are in a robust economic back drop gdp this year, including inflation, is expected to be 9%. that is tremendous and those companies are more economically oriented and will benefits those groups are well positioned to take advantage of the strength in the economy. >> patrick palfrey of credit

suisse, looking forward to the earnings season. patrick, thank you i appreciate it. take care. as always, we appreciate you getting up early for us or listening in on the podcast or watching the show on record. either way, we thank you hope you have a wonderful easter and passover markets are closed on friday have a great three-day weekend we will see you monday morning take care. "squawk" and the gang is picking it up next phone on us!mited time, get ag (mom) delightful. (vo) with no trade-in required. (dad) i love it. (vo) what's not to love! verizon is going ultra, so you can get more. staying up half the night searching for savings on your prescriptions? just ask your cvs pharmacist. we search for savings for you. from coupons to lower costs options. plus, earn up to $50 extra bucks rewards each year just for filling at cvs pharmacy. this is elodia. she's a recording artist. plus, earn up to $50 extra bucks rewards 1 of 10 million people that comcast has connected

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good morning big banks are in focus with goldman sachs, citigroup and morgan stanley and wells fargo ready to roll out results before opening bell. forget the fed ecb on center stage. european central bank set to

make a policy announcement within the next hour. and andy jazzy joins us live it is april 14th not to worry you have until monday if that date scares you. "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc live from the nasdaq market site in times square. i'm rebecca quick along with joe kernen and andrew ross sorkin live from the amazon headquarters in seattle. >> good morning. 3:00 here? >> oh, that's right. >> 6:00 a.m. where you are bright and sunny. >> it looks bright and sunny >> we are at amazon headquarters i know w