let's get to brian sullivan in frankfurt, germany for latest there. er: you know, dom, this is good news to wake up to in the united states. why here in germany are they talking about a russian pipeline with regards to the u.s. market? there were concerns, dom, if the pipeline did not turn back on and no indication that ubs and jpmorgan chase were out there saying we are taking a hit to corporate earnings the euro could fall. there were so many trickle-on effects. it is 5:30 a.m. there and 11:30 a.m. here. the crowds are out good news that nord stream 1 pipeline was turned back on by g gazprom and vladimir putin of the maintenance schedule it is flowing at 40% of the total capacity and vladimir putin made comments that maybe another turbine p needed to go for maintenance. for now, dom, we will see what happens in the next couple days and weeks and months this story is starting, not ending the worst-case scenario avoided in germany and europe. nord stream flowing at 40% markets would have taken a huge hit. for now, for today, we have a bit of relief the

that's where we find brian sullivan on the ground in langenfeld, germany, tracking the latest developments real world implications and impacts i'll send things over to you, brian. >> yeah, dom, the stories can be so big, so esoteric, so macro. this is a 60-year-old factory shoot anything but me. this is hot here it's about 1600 degrees. i want to tell you the story about the energy crisis. these are men and women whose jobs and livelihoods are at risk if the gas gets cut off or rationed it's not just here multiple this across germany, europe, the united states because of global supply chain implications this is not fearmongering. there have been reports, deutsche bank saying with a tap cut-off, gdp goes down 5%. p pariba could be down that was red hot i was doing that to save your behind literally these are things that go into the supply chain that the world needs. these are parts for huge pumping engines that power fracking and hydropower and things that we never think about. so what i do want you to think about, dom, is the people here at smeez cast that they're hoping they have not only

brian sullivan, enjoy the holiday weekend my friend, thanks so much. in ukraine, next we'll get reporting from that country's capitol as russia continues its assault on a new attack on civilians. where that fight stands next on morning joe. researchers believe the first person to live to 150 has already been born. it could be you! wow. really? of course, you'll have to eat your greens, watch your stress, wear sunscreen... but to live to 150, we're developing solutions that help doctors listen to your heartbeat while they're miles away, or ai that knows what your body will do before you do. cool. introducing elevance health. where health can go. every search you make, every click you take, every move you make, every step you take, i'll be watching you. the internet doesn't have to be duckduckgo is a free all in one privacy app with a built in search engine, web browser, one click data clearing and more stop companies like google from watching you, by downloading the app today. duckduckgo: privacy, simplified. the trial for wnba star britt my griner bega

2022 you are watching "worldwide exchange" here on cnbc >>> good morning i'm dominic chu in for brian sullivan today of let's kickoff the hour with the futures pointing lower at the open dow lower 325. s&p down 46 at opening bell. nasdaq implied lower 25 points a lot of negativity right now if these futures move into cash equities trading this is after the dow and s&p yesterday extended the losing streaks to four straight sections the major averages down this week with the nasdaq leading that down side with the more than 3% loss since monday. all of this after the consumer prices, cpi, yesterday, showing the biggest jump since 1981 and growing odds the fed implements a 100 basis point or 1 percentage point rate hike after the two-day policy meeting later this month in the pbond market, watch the spread with the 10-year treasury and the 2-year treasury. that difference is now at the widest since the year 2000 often a major early indicator for a recession. the difference is the 10-year treasury is 2.97%. 2-year treasury at 3.2%. that inversion is something to watch. we are watching oil prices cl

i'm dominic chu in for brian sullivan here is where the markets stand at 5:01 a.m. eastern time. s&p higher by 42 nasdaq up by 161 dow up 300 this is after the dow and s&p snapped the five session losing streak already the markets did end the overall week lower if you check on the bond market, where a lot of this catalyst is coming from now, we he see it tk higher the treasury yield is 2.95%. we are still inverted. that 2-year treasury sits above it at 3.15%. 30-year long bond. >> in the oil market, you have u.s. benchmark $99.44 that is up nearly 2% ice brent crude up $2.20 2% gains there nat gas price up 2.5%. rbob gasoline coming down in the sixth down week in a row you can see overall those trades are playing out. gold metal l hitting the lowest level since august of 2021 $1,717 is the last trade there platinum is coming off the worst week since march 2020. >>> in cryptocurrency, bitcoin and ethereum holding on or trying to hold on to key levels. bitcoin prices at 22,314 we have been eyeing the 20,000 leave for some time. 6% gain. ethereum up 10%. $1,478 is the last trade the

cnbc's brian sullivan, thanks, sully., man. >>> coming up next, we'll have more on president biden's upcoming call with china. and how a trip of a high profile lawmaker is adding to tensions. >>> and extremes in midterms, one of our guests say qanon requests are losing but their lies are winning. more on "morning joe" when we come right back. more on "morning joe" when we come right back. my active psoriatic arthritis can slow me down. now, skyrizi helps me get going by treating my skin and joints. along with significantly clearer skin, skyrizi helps me move with less joint pain, stiffness, swelling, and fatigue. and skyrizi is just 4 doses a year after two starter doses. skyrizi attaches to and reduces a source of excess inflammation that can lead to skin and joint symptoms. with skyrizi, 90% clearer skin and less joint pain is possible. serious allergic reactions and an increased risk of infections or a lower ability to fight them may occur. tell your doctor if you have an infection or symptoms, had a vaccine, or plan t

i'm brian sullivan it is 5:30 in the morning.ck futures are higher dow up 128 points right now. .40% gains today in the market, a long way to go, gains today will make it four in a row. math tells me we're three in a row coming in to today do keep in mind that the total gain is less than 1% overall we will take what we can in this market this year right? oil and energy something is going on in kazakhstan it is not getting attention it deserves a russian court order ed caspian pipeline consortium to suspend all operations pending review of paperwork. the review has to do with safety concerns and spill risks from the pipeline that shutdown in the last 30 days whether you believe that reason by the court or not, the cpc is an export point for the region with over 1 million barrels a day flowing through it oil is still flowing through the pipeline at this point if this 30-day paperwork wink-wink shutdown happens, it will take 1 million barrels off the market chevron is a partner in the cpc. something else to watch in global oil and e

i'm seema mody in for brian sullivan at this hour. let's kickoff the week with a look at the stocks at this moment a look at futures right now. according to a lower open. the dow indicating lower by 150 points stocks kicking off the second half of the year on a strong note all three climbing by 1% on friday still not enough to erase the steep losses for the week. dow falling 1.2% with the s&p shedding 2% as you see there the nasdaq, the biggest loser, falling more than 4% a lot of it having to do with the bond market. 10-year treasury has been around the 3% level today is below that at 2.88% we will keep an eye on that. draw your attention to the oil market we are watching this strike by norwegian oil workers. further fueling tight supply worries. here is how oil is trading wti crude is higher by 1% at $109 a barrel. ice brent crude is lower at $113 nat gas at 5.76 at this hour. >>> and cryptocurrency bitcoin broke 20,000 yesterday you see it is just below that at $19,852. ethereum at $1,137 is now slightly higher by 1.5% right now. t

i'm dominic chu in for brian sullivan it is 5:31 a.m. eastern time futures are indicating a lower open although modestly the dow implied lower by 17 points s&p 500 down 12. 69 point decline for the nasdaq. if these futures losses and moves hold for regular cash equity trading >>> contessa brewer is here with the top headlines this morning >> dominic, a deal to resume ukraine's black sea grain export is said to be signed today the russian invasion of ukraine has stalled exports from kyiv with dozens of ships stranded and dozens of ships stuck at the port united nations will sign the agreement to restart the exports. you can see agriculture and corn futures are near an eight-month low. >>> one of elon musk's lieutenants at tesla is under scrutiny in the internal investigation. the factory in texas and questions of the role over purchasing hard to get construction materials tesla has already fired other workers related to the probe we will stay on top of the investigation and what we learn from it. >>> amazon's drone delivery program is beh

brian sullivan has more. what can you tell us >> listen, here's the thing to remember we bring up these boards that is the futures contract there are two different oil markets happening. there's futures contracts and there's buying actual physical oil. the so-called paper market, multiple times, like 20x times bigger hedge fund managers having huge sellers of contracts that dumping the contracts, you know, despite that, all signs still point to a tight, physical market here in america, refineries are continues to boost their production they're going to nearly flat out. don't forget, the spr will have been to be refilled in the fall. it's near 40-year lows that's a massive fill coming opec saying there could be crude oil shortfalls, maybe up to 2 million barrels a day, as long as global demand stays strong. so why do we care about this we want gatt prices to come down even more. it's up more than the price of oil. they raised their selling prices, of course, all of this, kelly, although many in the market prob

. >>> good morning i'm dominic chu in for brian sullivan let's kickoff things with u.s. stock futures trying to rebound. dow implied higher as well as the nasdaq and s&p a selloff yesterday sent every average a sharply lower for the day. it closed down more than 200 points after being 344 points at session highs to the upside. the risk off trade driven primarily by a report out of bloomberg that apple is planning to slow hiring and spending in the year 2023. apple was a driver of the down side move overall. it is not just apple check out goldman sachs. saying it will slow hiring and looking for more ways to cut expenses goldman sachs shares driving that down side action in yesterday's session. >>> checking on the bond market. yields are moving to the upside. 10-year treasury is a hair below 3% $2.99. the 2-year treasury is below 3.17%. the yield curve is still inverted with the short-term rates above long-term rates. >>> in the oil market. signs of movement. we are trying to hover around $100 for crude oil ice brent crude, the world benchmark gauge is $105.42 natural gas

let's bring in worldwide exchange anchor and our senior national correspondent brian sullivan for moreary stuff, brian >> here, too you heard pippa. it's amazing that electricity prices are finally getting more attention. we'll have more on the nord stream pipeline story which has a bizarre twist to it at the end and i'll get to that in just a moment, but first, the key headlines that have happened in the last 48 hours. we're doing the work so you don't have to. the prices in europe continue to hit new records, in france they hit $400 megawatt compared to germany. by comparison boston is paying $40 to 45 bucks and parts of europe ten times higher on the wholesale power prices and that is leading for more calls to dim the lights and leaving french power company executives over the weekend to call for rationing to help alleviate the problem. dim the lights, don't run the air-conditioning and crank down the heat in germany the company is begging the company for a bailout. the company called uniper the biggest importer of natural gas in germany and has losses up to $10 billion subprime-lik

thank you, brian sullivan. >> coming up, volatile and directionless. that is how my weekend felt. but that's how my next guest is describing this market environment. he still sees opportunities in stocks and we will get his picks next mcdonald's and we'll report the numbers. and as we head to break, let's get a quick check on stocks where where he see the dow now at 100 points. building on a stronger gain. small caps up .6%. nasdaq down .25% nasdaq down .25% we're back in a moment bubbles. bubbles so many bubbles! as an expedia member you earn points on your travels, and that's on top of your airline miles. so you can go and see... or taste or do absolutely nothing with all those bubbles. without ever wondering if you're getting the most out of your trip. because you are. let me be direct. why would you pay more than double for teeth straightening with invisalign? with smiledirectclub, you get a doctor-directed smile you love for sixty percent less. that's a lot less. like a lot. choose smile. choose direct. ♪ smiledirectclub ♪ >>> welcome back, everybody. a mixed day for trading.

and it does help give us a sense of what is happening brian sullivan in frankfurt for us >>> let's turn to the investor angle where higher prices are clearly bullish for energy stocks dan pickering is with pickering energy partners. what is your response to all of this you heard brian describe this very different kind of bull market that we are in especially that we're given basically in a bear market in oil in the last few weeks anyway >> sure, energy as a weapon not something that is fun to talk about. when we look at the u.s., we're a bit better situation, right? we have a lot of gas, we're exporting gas and so not the same situation as europe we arebenefiting from higher prices we the industry. that will flow through to our consumers and our population as we move through our winter but right now, it is bullish for u.s. natural gas prices and it is bullish for u.s. energy stocks >> and nat gas prices have still just about doubled probably year to date or over the past year. and so we've seen stocks of big producers move accordingly but if we see further moves to restrict our exports

brian sullivan is in germany with the latest on a continent on the brink brian? >> reporter: yeah, kelly, hi welcome from frankfurt, germany this is a continent that maybe is not quite as much on the brink as it was just 24 hours ago. we were facing what they call the gas cliff. with that nord stream 1 pipeline turn back on won't it everyone was on edge because if it didn't turn on it was almost immediate energy rationing for sure talking about going into a deep recession almost immediately the collective european economy, remember, is gigantic. it is not quite the size of the united states but is not far off it germany the fourth biggest in the world. we got a bit of a reprieve, a step back from the gas cliff a little bit today the problems are not resolved. if you missed the news, maybe if you're waking up in hawaii, here you go the nord stream 1 this morning did start pumping gas from russia to germany. that is the good news. the problem is it's not at 100%. it just went back to that 40% level it was at prior to when it went down ten days for maintenance. keep

the halt of shipments through the nord stream 1 pipeline joining us to breakdown the crisis is brian sullivanbrian, good news so far today. the pipe has been turned back on >> it is good news for here and the united states as well. i'll get to that in a second, becky. there is good news not terrible news. the good news is the nord stream 1 pipeline is back on. the bad news is the flow was back to pre-maintenance. 40% of capacity through the pipeline putin talks about maintenance and turbine issues there is a back-up turbine putin is continuing to play games. two other pipelines that come into germany those are off. you talk about 40% of one of the three running. germany or europe's energy crisis has not been solved, but there is flow as they race to get to storage how is this for the united states the longer we see less flow from russia, the more impetus there is for german's government and europe as well to find alter in that sources of gas. they are looking for other alternatives much of that may come from the united states. it will take time. you talk about lng terminals and s ships. four

. >>> russia resuming gas into europe brian sullivan is live from germany, with the latest brian?rter: yeah, it feels like the capital of things, right you have the energy crisis, you have the ecb, which is head quartered about a block to my right here, so maybe this is the center of the economy. let's talk about what happened today. there is good news let's try to be optimistic it's a beautiful day here. last night we are standing on the edge of what some were calling the energy cliff, where that nord stream 1 pipeline would be turned back on. if not, immediate gas rationing, and probably immediate talk of the recession. the tap was turned back on however, that level is only at 40% of its capacity. 40% of where we were about 12 days ago prior to when it was shut down completely here's the thing to remember that is not 40% natural gas covering germany's needs the nord stream 1, the biggest, but one of only three carries gas. the tore two are shut down and have been shut down for a while. one, because it comes through ukraine, and because russia has a dispute with poland. it is flo

watching "worldwide exchange" right here on cnbc >>> and good morning i'm frank holland in fur brian sullivan we'll kick off the hour with a check on the markets and your money right now. futures are struggling for direction. stocks staging a comeback yesterday thanks to falling bond yields, the dow closing down 129 points the s&p eeking out a slight gain, while the nasdaq finished up about 1.75% let's get a check on treasuries. fresh signals of recession worries with the ten-year yield rising above -- excuse me. the two-year rising on tuesday the ten-year now currently at 2.813% take a look at the two-year. it's 2 presipoi2.824% right now we're seeing wti just a tick over $100 a barrel. brent crude up natural gas up 2%. bitcoin right now just above 20,000, 20,133, down very slightly ether's price down slightly. the action coming as another crypto lender announced its files for bankruptcy let's go live. our julianna tatelbaum is in our newsroom with much more on the trade in europe. >> frank, it's great to see you. here in europe the equity markets are on the rise, on the monday after yesterd

afternoon or good evening and as always welcome from wherever in the world you are watching i'm brian sullivan good friday morning, i think welcome to july. let's kickoff the first day of the month and quarter and second half of the year with the check on futures and they look like they did on the last day of the first half of the year down across the board. not a lot. dow futures down 90. nasdaq down 50 no new month pop for the markets for now. by now, you know the stats s&p coming off the worst first half of the year since 1970. nasdaq and nasdaq 100 coming off the worst quarter since the 2008 financial crisis dow and russell since the worst crisis in 2020 when the pandemic lockdowns hit. down 16% from the highs. nasdaq is down twice that. more than 30% from the record high one reason is bond yield and interest rates soared this year. right now, yields are down a bit on the 10-year treasury. back under 3%. if you want some good news and what has been a tough day a minute in the show is mortgage rates should stop moving up with bond yields holding steady over the last two months. >>> first ha

i'm brian sullivan good monday morning. let's jump in on this busy day coming off one of the best weeks for stocks that we have seen in a long time. all the major averages did pop last week, but that is not following through this morning futures down dow down 1813. nasdaq off .7% with the move higher, you have another big firm cutting forecast today lowering the s&p 500 year end target to 4,200 and cutting the index earnings forecast by $4.50. that may weigh on the market fair value is in the green a long way to go yields on the bond market at 3.05%. coming up in the rbi, by the way, we will show you what is a pretty crazy stat about the markets. here's a hint. we're on pace to do something that we have not done in at least 50 years, if ever. oil marketing waking up. still above $100 a barrel. physical inconvventory is tight later on this week, president biden will travel to the middle east and saudi arabia for the goal to mend fences with crown prince muhammad bin salman friday is the big day for that >>> crypto has bitcoi

good morning, good afternoon, and good evening from wherever in the world you're watching i'm brian sullivanelcome to fed day the bank is going to raise rates again today. the only question is what it might indicate about future demand for rates ahead of that, stock futures are higher nasdaq futures soaring, up 200 points right now the markets actually held up pretty well yesterday considering walmart's disaster of a day nearly half the dow is higher. on the day a pretty good day considering what walmart delivered up in bonds yields are a little changed, just under 2% they haven't moved at all in recent days, but, of course, they could on any big swing or challenge in fed guidance this afternoon. energy remains the space to watch. natural gas soaring both here and overseas, yet again on strong demand and cut supply there we are in the united states at $9.10. if we look at the european price t t, the so-called dutch ttf price, $60 in europe we're paying $9.10 look at that chart that's the equivalent of 60 u.s. dollars per gascon tract it looks like gazprom is going to close nord stream once a

i'm brian sullivan 5:30 in the east coast here is how your markets and money are looking right now. looking so hot selling following through from yesterday. we are seeing stock futures down across the board not a ton, but nasdaq futures down .70% all averages were lower. s&p down 1%. nasdaq down 2% nasdaq breaking a six-day win streak s&p had a five-day streak. all that was broken on monday. in the bond market, 10-year treasury just back below 3% we talked about the bond and big moves this year. bond yields are back to where they were two and a half months ago. overall, we had the super sharp move the first half of the year or first half of the first half -- first quarter, he said, he took math there we go. in the last two months, bond yields haven't moved oil has moved. still very tight market there for u.s. oil maybe the biggest market story right now, we don't talk about currencies this may be the biggest story today. the u.s. dollar. it hit 1 to 1 with the euro earlier this morning we call that parity. it has not done that in 20 years. this has a lot to do, by the way, with the

i am wilford frost in brian sullivan, this morning. >>> let's get a check on the market. futures are pointing to a positive open. hire by the nasdaq to the tune of 129 points. about 0.6 % higher and 62 points for the dow jones. it comes off of a strong week. the nasdaq is up 2.8% as is the s&p. the nasdaq about 10% and the dow jones about 5% with the s&p 500 somewhere in between. big declines in early parts of the year. nonetheless, a very strong rebound. let's check in on the market. the 10 year pulled back significantly, yesterday. we are trading at 2.7 %. it did touch 2.65 yesterday. we've got wti just under $100 mark but set to break a losing streak this week. close to 4% for the week and trading at 109. opec next week so we will see if that can continue the momentum the market has seen this week. >>> two big stories this week. first, apple with a better than expected third-quarter results but signs of slowing growth. tim cook telling steve kovach that apple expects to accelerate this quarter despite pockets of softness. we will dive into that throughout the next hour

welcome from wherever in the world you are watching thank you for joining us here on cnbc i'm brian sullivan we are sorry to say we have to begin the program with news that former japan prime minister shinzo abe is dead after being shot abe was giving a campaign speech for the parliament elections in the city called nara and the gunman opened fire local media reporting that the suspect is in custody. before abe succumbed to his injuries, the defense minister and abe's brother called it an attack on democracy. japan has virtually no private gun ownership and very little violence of any kind we will have more coming up throughout the hour and day here on cnbc. shinzo abe dead at 67. >>> now to the markets stocks trying to make it five in a row for gains. that's not looking promising dow futures off 114 points nasdaq down 48 down .20 things could turn around markets popped on thursday the nasdaq jumped more than 2% very good breadth internally 84 of the nasdaq 100 moved higher the bonds are just below at 2.98%. in oil, so much for some $100 price. $102 and change. it rose above 100 on thursday.

i am wilford frost in for brian sullivan this morning.ed on the market. >>> this comes after a ferocious rally yesterday that saw the s&p close of the 2.6 and the nasdaq close up 4%, giving up about a quarter of those gains this morning. the nasdaq decline is 130 points, just more than 1%. the dow is down a quarter of a percent, the s&p, as you can say, is down 20 points, or half of 1%. it would be close to that for k at the open, which it did cross above yesterday. treasury yields remain inverted. the 10 year treasury at just below 2.8% as things stand, and the two year, as you can see, closer to 3%. energy prices, we are seeing oil and crypto and gold get a bit of a bounce today despite the fed hiking rates, and that has helped wti back close to about 100. european stocks just below the flatline at the moment. >>> let's have more of a discussion on the tech stocks and the broader market. will do that in just a moment. but first we are back with some of the day's other key corporate headlines. can tessa? >>> good morning, let's start wit

i'm brian sullivan. it's great to be back with you. good monday morning. let's look to start off your workweek. the stocks are coming off what was a good week. small caps last week was the star, up 4%. all major averages had a nice few days, and right now, maybe that momentum will continue. it's hard to know. the futures up 54, and the dow one tenth of 1% on the nasdaq. really a little green, but hard to tell which way the monday market may go. we are are also coming off a wild week for bonds, and that is not something we say very much, and usually boring bond market. the inflation expectations are coming down, and quick. so are the bond yields. ten-year bond yields down 12% in a month. maybe it's the housing market, who knows. energy, crude oil down about a buck a barrel. gas prices, thankfully, coming down. not natural gas. it's higher again right now, and it's back above eight bucks. hot weather is driving demand. in bitcoin, ether lower, down 3% and 4%. they are also coming off one of the best weeks in a long time. really last week, everything was up.

as always, welcome from wherever in the world you may be watching i'm brian sullivan let's get rightit and see how the markets look on this friday we are seeing futures not doing a lot. very little change to maybe slightly higher. at least they are in the green maybe showing markets a little bit of relief. dow futures up 76. nasdaq up 42 major averages down all week coming into today. the s&p 500 down 3% in just the last five days pretty much wiping out all of most of last week's gains. it could be a very volatile day of trading today it has to do with options and we will tell you more in the 5:30 half hour. checking the bond market and yields are coming down above 2.9% off that red hot inflation number keep an eye on bonds energy, oil is slightly lower off the close, but a couple of bucks above two days ago oil at $95 and change. president biden has a big meeting in saudi arabia with crown prince muhammad bin s salman we have more with helima croft in moments. >>> and now to the american natural gas. the u.s. embassy and the german government will hold a combined lng conference in b

cnbc's brian sullivan. , not wonky at all. >> let me ask you, brian, brian, are german leaders talking right now to russian officials? obviously, there's great tension between zelenskyy and germany's leaders, because they have forged an economic alliance with russia that zelenskyy feels is getting in the way of them defending democracy. but is germany trying to talk this through with russia? >> reporter: not directly, joe. but i'm going to give you the craziest story that involved everything you just talked about. all right. the nord stream pipeline was down in part because one of its turbines, this big engine, basically, had to be sent to canada to be fixed. the turbine is german by siemens, the german company. they can only repair it in canada. they had to take it out of the russian pipeline but canada can't take it because of sanctions so it had to go to germany and come back. the canadian people were ticked off at justin trudeau saying we've got these sanctions on russia and now you're allowing a canadia

gas online at the in nord strea pipeline brian sullivan has the latest. >>> and to dive back into the stock market with the winning week and fighting to roll on futures are lower right now. >>> investors bracing for a key interest rate decision by the european central bank later this morning. likely rolling out the

>> that doesn't shock me and it's a reminder of the challenges they face thank you very much, brian sullivan's talk about nat gas prices. where do they go from here our next guest says it's the best time. bill, this thing whipsaws, though are you suggesting it's only going higher from here >> no. i'm not suggesting that. natural gas is a dangerous game and you have to get a handle on many fundamentals to get the direction right both on the short term and the long term the upside risk, particularly in yours is much greater than a downside risk. whap about renew abs and plan some doing and they're not on lng imports and things break and take down, but a profitable gain. >> you've shown that with gains of 182% last year on one of your funds and year to date so far this year and 100% last year if i am an individual investor who -- who is of the mind that the price of natural gas is going to rise over the next nine months because of the various complex of influences that are at work, how is the smartest way for me to play it if i don't have the skills of a bill perkins or the capital of skylark?

brian sullivan has the study from the m.i.t. professor and the st. louis fed. an >> joe, you may have heard of m.i.t. and 2020 ppp program. if you don't remember, here is the numbers. all in at all-in, 11.5 million loans, $793 billion borrowed and only $714 billion forgiven this is old news, right? much of that money was likely wasted they did say while it did help save some jobs the cost was high and the program was not well targeted the st. louis fed suggested only 25% of the nearly $800 billion went to johnsbs that would have gone away anyway against an average income of $58,000. the paper found that most of the money went to the business owners, suppliers and banks and not to the rank and file workers. in fact, the study looked at incomes of business owners and bank edxecs and found out that 70% was captured by incomes with the top 20%. there are searchable databases on every small business that participated many industries that ultimately boomed during the pandemic, car sales, real estate agents, fast food owners, they got big government payouts with almost

brian sullivan is in germany supposedly looks like a green screen to me.t story and why it matters to europe and the world. we wouldn't say it if you weren't. think about how much money we would save if you just did a green screen. >> reporter: i can tell you i'm not in a green screen. when you see me sweating here at the schmees cast, it's 17. we'll tell you why tomorrow matters so much. tomorrow is the day the nord stream 1 pipeline from russia to germany is hopefully expected to resume its flow of natural gas it's shut down for nine days ten days of maintenance would be tomorrow putin making some contradictory comments overnight in iran saying he wants to fulfill the contract but maybe the pipeline still has some problems. he's basically keeping germany and europe on the edge and worrying them about natural gas flows. if the nord stream pipeline does not turn back on tomorrow or is delayed for some time, what is likely to happen >> europe or germany in particular will enter stage three of their emergency plan. they're in stage two now what does that mea

brian sullivan joins us.e has that story next. >>> as we head to break, check out the move yesterday in the retailers after walmart's slashed its e forecast that was off levels we've seen target off by 3%, best buy off "s%. quawk box" will be right back. >> announcer: this cnbc program is sponsored by true wift securities you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire medium latte, half-caff, no foam. quite the personalized order. i know what i like. i've been meaning to ask you, carl. does your firm offer personalized index investing? hmm? so i can remove a stock that doesn't align with my goals. i'm a broker, not a barista. what about managing gains and losses to be more tax efficient? not a wizard either. looks like schwab personalized indexing can. schwaaab! learn more about personalized indexing at schwab today. with xfinity internet, you get advanced security that helps protect you at home an

brian sullivan joins us with more we were saying it was a good day, they've opened up the natural gasase. >> no, it's not. we hedged it pretty well back then saying this happened tan may get turned back down the european union make ing a dl to cut natural gas use by 15%. this deal is very watered down, voluntary for now what the eu is looking to do is make sure that countries have enough gas if storage to heat homes and hospitals in the winter the deal coming with a lot of carve outs andexemptions it's yet to be seen whether france and spain had go ahead with this. cutting your air conditioning, will those countries really cut back on their economy really to help germany because this is all about germany. all of this coming as fgazprom signals it's going to cut flows to germany, by half, taking it down to 20% capacity from the 40% we started out at on thursday gazprom as they do, blaming it on that pipeline engine turbine. germany now in dire straits, getting almost no gas after all from russia because the other two pipelines moo ginto germany been shut off for months because one goes

brian, thank you. eric. eric: the u.s. says iran trying to sell hundreds of attack drones to russia. the drones to be deployed in ukraine. national security advisor jake sullivanfirst denied it. he says iran showed drones to russian military at an iranian airfield. what is the link between not merely vladimir putin in the west in our security? a former defense officer joins us now and the author of a fantastic book. vladimir putin's mind called putin's playbook, russia's secret plan to defeat america, she joins us now. rebecca, what does it mean? it doesn't seemed like a secret plan to hook up with our enemy and what does it mean? putin's coordination as we see with iran? >> putin definitely is according every pariah in the world. he's developing romance with iran with north korean kim jong un, china, basically it's a troubling development that the russians are gearing up with drones because iranian drones are legal, robust technologically. why? they were developed stolen, reverse engineering technology from america and israel. the russians will take advantage of it. not good in terms of drone technology themselves and it will fill a critical gap putin's milit

brian: g 7. no pandemic in europe. >> pete: not asking for more oil although you are clearly are. >> ainsley: jake sullivan no handshakeets off the plane and then he ended up shaking hands with benjamin netanyahu, he wasn't supposed to do that. >> brian: four shot fauci says we are allowed to shake hands. he got it twice. i don't know what's going on here. you can't just make up rules. i guess you can. >> ainsley: the president is about to speak. is he running a little late. we were told it's going to happen at 7:00. now we are being told it will happen maybe about 10 minutes late. we begin now with this fox news alert. where president biden and israel's prime minister is going to hold that joint press conference any minute now. >> brian: we will take it live. the two leaders vowing there will be no nuclear iran. really during a bilateral meeting earlier today. >> pete: steve is not here today but peter doocy is in jerusalem with more. peter, good morning. >> good morning, and to your point about this news that the president may not bring up khashoggi by name, that might just be the way that this president operates on