treasury secretary sitting down exclusively with cnbc.d about a china trade deal that every investor needs to hear. >>> we're kicking off our week long series, the rate shock. we'll break down how it could impact you and your money ahead. it is monday, june 10th. you're watching "worldwide exchange" right here on cnbc >>> all right. welcome back thanks for being here with us on cnbc i am brian sullivan. good monday morning. it looks like a pretty good monday morning for stocks. momentum carrying forward for the futures and for right now. dow futures are up about 95 points right now of course we'll talk more about the markets and your money coming up in just a moment but, first, breaking news raytheon and united technologies agreeing to an all stock merger that will create a company with a combined market cap of $100 billion. it will become the second biggest aerospace and defense company in the world just behind boeing both stocks are higher on the news utx up 5% and raytheon up almost 3%. on the trade front, the u.s. striking a deal with

treasury secretary steven mnuchin sitting down with cnbc about an hour ago.es rising as he delivered a progress updated on the china trade talks. >>> micron shares are on the rise after the chipmaker determined it didn't have to halt all its business with huawei >>> and netflix is losing i most viewed show to comcast we'll tell you when and why "the office qus q office" is leaving the streaming service. it's wednesday, june 26, 2019. "squawk box" begins right now. ♪ >>> live from new york where business never sleeps, this is "squawk box." >>> good morning, everybody. welcome to "squawk box" on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. let's take a look at what's been happening this morning steven mnuchin making news in the last hour -- mnuchin gave a progress update on trade negotiations with china that helped to drive the futures higher >> i'm hopeful we see a deal but there needs to be the right efforts in place this is not a deal for having the sake of a deal there is a pat

cnbc confirmed that china will seek a balanced trade deal but the u.s. is unwilling to agree to that deal according to cnbc sources xi will seek to end a u.s. ban on huawei products as part of any trade agreement. xi called for the integrity of the global supply chain to be upheld as he addressed g20 leaders in osaka >> translator: we need to foster a fair, just and nondiscriminatory market environment. we need to promote the movement of technology, people, information and other factors, uphold the integrity and dynamism of the global industrial chain build on our strength to promote corporations we cannot develop ourselves behind closed doors, nor should we cause disruptions to the market >> president trump sounded optimistic ahead of the meeting as he told reporters that ultimately it will work out. nancy hungerford is live in osaka. has there been detail from beijing about what they're looking for in any eventual deal >> what we have learned from sources speaking to cnbc's kayla tausche is that the terms of an eventual trade deal are what we're gettin

. >>> plus, a cnbc investigation how the biggest deal done by the trump presidency worth $84 billion is stuck in neutral. >>> and sky diving no mountain climbing. no flying a plane no it's a debate happening in some board rooms across the country should ceos be barred from taking part in risky behavior? this is "the exchange" on cnbc >>> welcome back this week's fed decision showed members are split where rates go from here. the minneapolis fed president revealed at that meeting he advocated for a half point rate cut. how likely is that joining me, president and ceo of the lindsey group, former fed governor and national economic director larry, welcome, good to see you back >> thanks for having me, kelly. >> what stands out to you about this whole discussion, gives me a headache frankly, you have on one hand everybody talking about low inflation as the reason for rate cuts but on the other hand, they quite clearly mean we cut if there's a slowdown, we won't if there's not where does that leave us >> just look at fed history. rates are cut because of problems in the real economy, high

he was a pioneer in our business and made cnbc the force it is today.e joined in 1996 after a long and legendary career managing local television stations across the country, including wnbc in new york city. he was formidable. he was creative and entrepreneurial and he left every property he ran stronger than he found it for those of us who worked with bill including our current chair of mark kaufman and for the hundreds of cnbc employees who benefitted from his energy and vision, we sent heartfelt condolences to his wife eileen and his entire extended family oh, sir. that was my grandma's. don't worry, ma'am. all of your stuff is in ok hands. just ok? they don't give two and a half stars to just anybody. here you go. what's this? it's your piano. hold this for a sec. we don't have a piano. no.. but the neighbors do. just ok is not ok. especially when it comes to your network. at&t is america's best wireless network according to america's biggest test. now with 5g evolution. the first step to 5g. more for your thing. that's our thing. >>> welcome back t

i'm tyler mathisen melissa lee is here and new at 2:00, president trump on cnbc earlier today weighing in on the trade war with china and the threat of tariffs on mexico. also taking aim at the fed yet again. plus, rayt hrheon the president raising a few concerns about the deal. $4.5 million for a baseball jersey babe ruth's personal memorabilia going up for auction with lots of other items we'll give you a sneak peek at some of the mostinteresting things play ball. "power lunch" starts right now ♪ >> welcome to "power lunch." i'm melissa lee. the dow is up for sixth straight day but off the session highs in the s&p 500 now less than 2% away from its intraday all-time highs hit back on may 1st. check out shares of beyond meat. beyond expectations here soaring 25% today. the best performing ipo of the year, up about 580% since going public just $25 a share. >>> president trump on squawk box weighing in on the trade war. big tech and the fed and sounded off on the mega merger and the defense space. team coverage for that first, bob pisani at the new york stock exchange with the rally at

we have donald here, cnbc contributor. of the trade is getting the focus but banking looks like it's a disaster again. >> the lesson here is central bank, when they play with the yield curve, they're artificially changing the trade of capital banks can't make money with a yield curve, almost the entire curve is negative. that's your first problem. your second problem is there is something lurking there in non-performing loans but it's been there for literally almost a decade it's been glensed quite a bit. as you go from 1% -- >> when you look at the benchmark 10 year, all of the headlines scream bond market being bought on global concerns. there is an element but if you're in europe and you're a sovereign wealth fund and you need to put your money somewhere, why would you buy european debt? you're going for the u.s. treasury market, are you not >> yeah, that's been the case for a while. the problem is it for most of the last year it's been more expensive to buy the u.s in other words, you have a huge mob. we have 5 or $6 t

at cnbc global headquarters. good friday morning. the five things that need to be on your radar before you head out the door. the chips are down semiconductor stocks tumbling in the premarket, new fears, new concerns out of china, two big names getting hit hard this morning. we'll show you pointing fingers, the u.s. blasting iran over yesterday's twin tanker attacks in the gulf of oman. new video from the scene that is raising eyebrows this morning. hey, chew on this, chewy.com raising more than a billion dollars in its ipo company starting trading today on the new york stock exchange a housing alert. how tumbling interest rates could impact your single biggest investment of your life. we'll round out our week long rate shock series. and no doubt a lot of bleary eyes all across canada this morning as the toronto raptors take home their first nba title. oh, yeah it is friday, june 14th, you're watching "worldwide exchange" on cnbc ♪ i've been taking care of business every day ♪ ♪ taking care of business every way ♪ ♪ i've been taking

the german carrier blames intense price competition for a new profit warning >>> boeing ceo tells cnbche aircraft maker has confidence in its troubled 737 max model and insists the company will ensure the plane remains safe for the sky. >> expected to be before the end of the year. we're making good, steady progress i don't want to put a specific timetable on it. again, we want to focus first on safety we will fly when it's ready to fly, when it's safe. >>> u.s. commerce secretary wilbur ross down plays the prospect of a u.s./china trade deal at this month's g20 summit and tells cnbc that washington stands ready to impose further tariffs on beijing if necessary. >> we will eventually probably make a deal, but if we don't, the president is perfectly happy with continuing the tariff of movements we've already announced, as well as imposing the new ones, that is temporarily suspended. >>> deutsche bank is preparing an overhaul of trade operations, including plans for bad bank, holding tens of billions of euros in assets. >>> well, it was a pretty mixed session for agent equities overnight

you're watching "worldwide exchange" on cnbc. ♪ >>> welcome back and thank you for being with us on cnbcod morning i'm brian sullivan there's a ton of news to get to today. the markets are part of that they remain a big story. we have 1% gains or more across the board yesterday. we point out yesterday because the markets are 1% from new all-time tiehighs. nasdaq, s&p, dow, transports, real estate, up 20% or more off the december lows. overnight in asia, another big rally there on that trump xi news hong kong, their market gained 2.5% green across the screen. japan one of its best days this week that's not really carrying over into early trading in europe the european markets you see are slightly down, but we'll call them basically flat. bond yields, a trillion dollar story. they continue to drop here 2.08%, up a tick still well lower than we were a year, year and a half ago. benchmark there. we talked a lot about how the german bond market has negative yields, it's not just germany. in the last 24 hours, we have had negative yields on ten-year bonds in germany, france, sweden, switzerlan

for more on this, cnbc reporter courtney reagan with us along with jan kniffen and cnbc contributor and first to you, why is tiffany up on this onslaught of bad news? >> i would say that tiffany is up because it wasn't as bad as people thought it was going to be and they didn'tsay things that were scary as people thought they might say about what was going on in the world because they're facing into some pretty tough business. that they're looking at difficult business in china because the economy will slow if these tariffs go on and tariffs on the goods and my list of companies that sell into china, they're number one as far as the percent of their business. so those are all bad news items. the u.s. business wasn't great the chinese business just reported wasn't great. gross margins were lower and expenses were higher all of those, you would have thought might have gotten their stock clobbered but they were okay and since they were okay, the stock first reacted notably and then positively. i would say nothing's really happened and most of the world has tiffany ready to hold and that's

confirms he will meet with xi jinping at the g20 summit but blackstone's ceo steve schwarzman tells cnbc he's not optimistic a deal will be reached. >> i think that's extremely improbable because there's been almost nothing happening since may. >> asian stocks follow u.s. equities higher on renewed helps elsewhere for a potential u.s./china trade deal. that confidence fails to spark european market. >>> president trump takes aim at jerome powell ahead of today's policy meeting saying he could consider demoting the central bank head. >>> and trump also blasts ecb president mario draghi and his stimulus plans that sent the euro lower against the dollar. >> there are risks mainly because of brexit, also because of the trade conflict. even the persistence of these risks are a risk in itself >>> president trump has increased pressure on the federal reserve to cut interest rates. bloomberg reported the white house in february examined the possibility that the administration could demote jerome powell from his role as fed chair. the news agency reported that the white house legal review had mad

at cnbc global headquarters. >>> the white house slapping new sanctions on iran following tanker attacks and the downing of a u.s. drone. iran firing back with fiery rhetoric of their own. >>> a record within reach. the dow just 224 points away from a new intraday all-time high will today be the day? >>> speaking of rallies, bitcoin topping 11,300 this morning. up more than 200% year-to-date tom lee is here to weigh in. >>> fedex taking the trump administration to court over the blacklisting of huawei and elon musk calling it the most difficult launch ever as the falcon heavy rocket blasted into space earlier this morning. of course we have the video. it's tuesday, june 25th as "worldwide exchange" begins right now. ♪ ♪ >> good morning, good afternoon, good evening and welcome from wherever in the world you may be watching i'm brian sullivan well, we are about 0.8% away on the dow from a new intraday high futures indicating it may be tough to get there yesterday the markets were up, just a couple fractions of a point here perhaps we're on g20 watch whatever it is, futures are flat right

ay tedstun you're watching "squawk box" right here on cnbc ♪ my ideal cloud?ke air traffic control. it's gotta let new data integrate with data from our existing systems. ♪ ♪ be able to pull from reservation platforms built 20 years ago. and also be able to use apps to book super-personalized trips on shiny new phones from the future. plus, i need freedom to move my workloads wherever, whenever - but manage it all from right here. and that's the cloud i want. simple, right? expect more from your cloud. ibm cloud. >>> welcome back to "squawk box. the futures right now continuing to add to their gains. looks like the dow's set to open 133 points higher. s&p 500 up 13, a little less than 0.5%, adding to last week's gains of about 4%. nasdaq poised for about a 36-point gain. markets have, though, been reeling in recent weeks over president trump's tariff threats against mexico and china in an interview with cnbc, treasury secretary steven mnuchin defended trump's use of tariffs to gain leverage on issues that aren't directly tied to trade. >> president trump has d

stay tuned you're watching "squawk box" on cnbc >>> this cnbc program is sponsored by land rover.tflix's new original movie with adam sandler and jennifer aniston is making headlines in the viewer data. they tweeted via the comedy twitter profile over 30 million accounts watched the film in the first three days and that's the biggest weekend opening for a netflix production but what exactly do the numbers mean and can you trust them? joining us now michael olson, senior research analyst at piper jaffray and ed lee, corporate media reporter for "the new york times" and a cnbc contributor. michael, i saw numbers like 120 million opening weekend. wait a minute. i mean, this is my life. i was making plans to watch this tonight as a date night with my wife since it's free so it's -- well, it's on netflix, but then i read the reviews and it's like the worst reviewed movie i have ever seen. adam sandler and jennifer annison mail it in, it's lame and the plot is so hackneyed it is barely worth watching if you had to pay for it would it have done $120 million or people can get it so easily

ban on the company in an exclusive on cnbc.ederal reserve policymakers will conclude their two day meeting today. a policy statement will be issued at 2:00 eastern time. if the fed does not cut rates today, investors will look for indications it may do so later this year. powell will hold his usual post meeting news conference around 2:30 eastern we'll bring you live coverage obviously. generally i would say, jim, consensus is no cut today. but maybe clearing the decks for as much as 50 next month >> i spoke with lance fritz last night, union pacific he said something very interesting, he said, listen, he supports tariffs in principle. but understands that -- please understand that everything is slower everybody is cutting back. and if you listen to him and you say, we got to monitor this, if you were powell. we have to monitor this. this is -- disconcerting and if we go to 10%, which is what i understand is going to happen on the 300 billion, we will be ready. but at the same time, i think he has to castigate at one point the

stay tuned you're watching "squawk box" on cnbc >>> welcome back u.s.quity futures at this hour have been higher we've been watching this through the morning. steven mnuchin was interviewed earlier on cnbc by hadley gamble he said that he's hopeful about a china trade deal getting done. said they're 90% of the way there. they've been 90% of the way there for quite awhile he sounded optimistic will u.s./china trade talks >> i'm hopeful that we see a deal, but there needs to be the right efforts in place. this is not a deal for the sake of having a deal we were about 90% of the way there. we'll see what we get. >> stock futures did hpop on the news this is not the first time an administration official has made big comments like this only to knit a snag. eunice yoon joins us from beiji beijing. at least there's optimism heading into the talks this weekend. >> yeah. there appears to be some optimism but some of the latest we've been hear sergeant foreign ministry has been not commenting on some of the haven't repoven that we've heard about the u.s. consider

in the middle east following a series of strikes last month and that's where we begin today with cnbc's dan murphy in dubai for us dan, what do we know this hour >> hi there, kelly a major story developing here in the middle east. you need to look at these pictures to understand just how severe this was. this was shot early morning off the coast of oman. it's around 6:00 a.m. when authorities first received this emergency distress call responding to what is believed to be simultaneous sabotage attacks right near the strait of hormuz right on the iranian coastline. this first ship is believed to be the japanese-owned panama-flagged tanker that was moving methanol from saudi arabia to singapore. as you can see here it suffered serious damage to its hole on the star board side and that sparked a major fire reports suggest that the damage was so significant it's consistent with a hit by a torpedo or perhaps another projectile, but that has yet to be confirmed at this point all 21 crew onboard, kelly, were forced to abandon ship and had to be rescued by a noosh vessel. thankfully, they escap

his comments to cnbc coming up the deal of the day, abbvie buying allergan.st about the deal "squawk box" will be right back. >>> a big deal in pharma, abbvie buys allergan for $63 billion in cash and stock we'll bring you the details and what it means for the drug industry. >> transparency in the medical field. president trump press for more disclosure on health care prices. >> we are fundamentally changing the nature of the health care marketplace. >> secretary of health and human services alex azar will break down the new proposals. >>> wiping out student debt. some high-profile presidential candidates want to slash the bills of millions. who's on the look to pay for it all? the final hour of "squawk box" begins right now ♪ wipe out >> live from the most powerful city in the world, new york. this is "squawk box. ♪ >>> good morning and welcome back to "squawk box" on cnbc. live from the nasdaq market it >> times square, i'm joe with becky quick and andrew ross sorkin here today. futures up, the highest levels we've seen for the dow, 13.5 points the other av

also with us, cnbc's washington correspondent caleb tochi. president was calling in to cnbc to criticize the chamber of commerce. the international affairs had said the terrorists appeared to have hurt our country. that appears to have gotten under our skin. the president is saying without tariffs we'll be taken advantage of. his own economic adviser larry kudlow has said the opposite. >> there is a real divergence not only between the president and the business community that were sort of lock step on things like tax reform and deregulation. there is a clear split here over tariffs and the president called cnbc to hit back against one of the members of the chamber, and president trump was saying the chamber is part of the problem. the chamber has been pushing these policies that help the bottom lines of its own company while not prioritizing the united states. what i found interesting, stephanie, was the argument that the president was making here really put him at odds with his own advisers, not just the chamber. you have secretary mnuchin

dow up 160 >> here's your cnbc news update.r of hong kong is vowing to move forward with changes to laws that led to a mass protest over the weekend, saying delays will cause more division in society. organizers say more than a million people rallied against a proposed extradition law that would allow suspects to be sent to china to face trial >>> a lot of people talk about this one, former boston red sox slugger david ortiz is recovering from surgery after being shot in the bar and his native country dominican republic officials say the alleged gunman approached ortiz from behind and shot him at close range, his father says ortiz is out of danger and stable, adding the bullet missed major organs. >>> american airlines extending cancellations of boeing 737 max flyings through september 3rd, which equates to 115 flights per day. boeing needs to complete a certification test flight and submit a software upgrade and retraining procedures to the faa for approval >>> also, check out this video from indonesiania, cameras cost an acti

at cnbc. 6:00 in osaka, japan where air force one is expected to touchdown within the hour for the g20. big news crossing this morning that china and the u.s. are reportedly calling a trade truce ahead of this weekend's talks. but not all is well in the world of trade president trump blasting another trading partner in whfor what h calls unacceptable tariffs >>> at blow to boeing as potential flaw is found in the 737 max. >>> boom and bust. maybe back to boom back to bust what caused bitcoin to plunge 1,000 bucks in minutes >>> and the surprise winners and losers of the first democratic debate and what big topic surprisingly was missing it's thursday, june 27th "worldwide exchange" begins right now. >> afternoon, good evening and welcome from wherever in the world you may be watching. i'm brian sullivan futures are higher on the dow. your chart of the day already on this thursday has got to be bitcoin. if you have not been following it, it's been a crazy 24 hours for the crypto all right. this is an intraday chart. 24-hour chart of bitcoin yeah bitcoin right now is down $991 all right.

robert frank joins us with a new cnbc survey.good morning, becky well, surprisingly, most american millionaires actually support a wealth tax, and half of those making over $10 million or more say the wealthy should also pay an income tax of 70% or more the cnbc millionaires survey, which polls those with investable assets, say they support elizabeth warren's plan of a tax of those worth over $50 million. even the richer millionaires, those worth $5 million or more, support a wealth tax 49% of millionaires support a tax rate as high as 70% for those -- now, this is the income tax side -- who make more than $10 million a year the poll comes as several millionaire groups like the patriotic millionaires and fair share connecticut, are saying they want to pay more taxes to reduce inequality and generate revenue, but the results are highly partisan. 88% of democratic millionaires and a majority of independents support the wealth tax compared with 36% of republican millionaires that's still higher than i would have expected. >> me, too

my job isn't just to entertain but to teach you call me at 1-800-743-cnbc. or tweet @jimcramer. when the market gets incredibly oversold like it was coming into this week, remember i told you, you have to expect an amazing bounce even if the news flow is merely okay but when you get great news in an oversold market, you end up with the most spectacular week of the year

here is your cnbc news update.ocial media companies called capitol hill to share how they're fighting the spread of misinformation online. executives from facebook, and google appearing before the homeland security committee. >> misinformation is a problem before the 2020 elections. this is something we have to get right and we're especially focused on what we shib doing with increasingly sophisticated manipulative media >> former israeli minister forming a new party with the aim of deposing benjamin netanyahu he called for an end to netanyahu's corrupt leadership. >>> r. kelly back in court today. he pleaded not guilty to 18 felony sexual assault charges. the hearing focusing on the discovery of a videotape from the '90s that allegedly showed kelly having sex with a teen that's the cnbc news update at this hour. tyler, over to you. >> thank you very much. >>> oil market closing for the day. eric shemmy covering it. >>> oil rallying, hitting its highest level after a massive supply drop. u.s. crude inventories fall

guest host peter bookfarb, cnbc contributor.n, john, i guess people could have essentially gone to cash in january of 2018, you decided in march at this point, on a scale of 1 to 10, how fully invested are you? at a 5, 2, 6 >> good morning, joe good morning, petter, hope you both are well. we went to market weight on our balanced accounts late march after the fed meeting. call it 60% equity. a little concerned in late march, you may remember, that it was kind of buy the rumor, sell the news going na the fed meeting. market sold off. that thursday we're up 1.5, 2%, i don't like a market giddy over free money we decided to pull back a little bit. may have been a month too early given the strength we saw in april. yet again the may performance justified our actions. >> i know how you operate. you need to be in the stock market obviously 5% is reflective of your concern about the trade war. not like you sold everything at this point, have you seen evidence in the numbers that this is -- that the tariffs are having a major effect or

you're watching "squawk box" on cnbc hey! i'm bill slowsky jr., i live on my own now!y, because i like to live life in the fast lane. unlike my parents. you rambling about xfinity again? you're so cute when you get excited... anyways... i've got their app right here, i can troubleshoot. i can schedule a time for them to call me back, it's great! you have our number programmed in? ya i don't even know your phone anymore... excuse me?! what? i don't know your phone number. aw well. he doesn't know our phone number! you have our fax number, obviously... today's xfinity service. simple. easy. awesome. i'll pass. >>> let's check out the futures this morning we have been watching and things are in the green once again. big gains that you saw over the last two days, in fact, the last two days have been the strongest gains we have seen since january. back-to-back days where you saw all three of the major averages up dow has been up three sessions in a row the first session was up by four points you add 200 plus points from yesterday and 87 higher this morning, you're starting

commerce bank has declined to comment to cnbc about their reports. in an article commerz bank and othering have put their bids on hold as well. >>> elsewhere morgan stanley praised the company's brand. the bank's analysts says hugo boss still has to show that they can proceed. >> the u.s. administration has gerch cgiven conflicting statements president trump in yesterday's interview with cb tnbc said pau of it can be resolved with a trade deal with beijing. >> it could be we do something with respect to boyway as part of our negotiation with china. china very much wants to make a deal they want to make a deal much more than i do we'll see what p has look, i don't mind taking in billions of dollars. you know the 3.2 we had in the first quarter, we picked up the one point. just remember they're charging us tariffs. >> the u.s. president also has spoke on it. he touted the possibility that u.s. regulators could also impose fines on big american firms. >> is this something that's forming a bit of consensus in congress >> there seems to be growing pressur

in a new cnbc op ed, seven former u.s.sues of trade and immigration. they say higher tariffs will hurt u.s. consumers and weaken production chains in the two countries that support millions of jobs on both sides of the border and to make calls for increased regulation of big tech, apple's ceo says his company is in the a monopoly tim cook disagreeing with calls from some politicians that the company should be broken up. >> i think that with -- but with size, i think scrutiny is fair i think we should be scrutinized. i don't think anybody reasonable's going to come to the conclusion that apple's a monopoly our share is much more modest. we don't have a dominant position in any market. >> so, you're saying you're not a monopoly >> we are not a monopoly >> on the subject of trade, cook says he isn't too worried about china tariffs on iphones and does not think that beijing will target his company >> okay. >>> speaking of tariffs, they get a prominent mention in the earnings report out this morning from spirits producer brown-

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thank you for being with us here on cnbc. good thursday morning.an sullivan stock futures are up 74 points right now, despite no deal with mexico and talks yesterday, the markets are optimistic or reliant on the federal reserve to potentially cut rates coming up in june. oil by the way is paring some of the losses oil is higher by 0.8% but it had a big slide in the last 30 days. more on that coming. >>> but first, some big breaking news and the big breaking story right now is fiat chrysler saying au revoir to a potential deal with renault. they're frustrated with france renault shares taking a steep dive down 7% right now phil lebeau is in mexico for a different story, but phil, i'm glad you're there and thanks for coming on. because this is a big story and your excellent reporting on this, where do you think the breakdown is with the french government or fiat's frustration >> french government as you take a look at shares of fiat chrysler, keep in mind when they put this proposed merger together the beauty of it in their eyes was that you'd have t

stay tuned you're watching "squawk box" here on cnbc ♪ >>> welcome back to "squawk box" on cnbc. morning, imran khan, the ceo of verishop. thank you for coming in. we have time for a couple of questions but your suggestion i have been through verishop and looking to check things out. i think one of the things that's probably to your advantage is that you have this merchandise in house but there's also something that creates a bigger risk for you. >> it does that's why we need to have better analytics, to what we should be buying we have a fabulous team of buyers who came with a lot of experience we have employees with nine years of experience and we have 50 employees and we have to dig into the data. netflix creates content we're trying to bring that to e commerce. >> this will get bigger as you grow, but how much did you start off with >> 1,300 styles and more than 10,000 sizes so sizable. >> how do you pay for it do you get financing >> you can do vendor or bank financing and which used our capital that we used. >> is it a big start-up cost >> it is a big start-up cost i think

>>> this cnbc program is sponsored by land rover.& johnson is a baby company. but we're also a cancer fighting, hiv controlling, joint replacing, and depression relieving company. from the day you're born we never stop taking care of you. ♪♪ from the day you're born ♪♪ ♪♪ >>> welcome back to "squawk box" this morning some airline news that's just breaking as we speak i want to get to phil lebeau on the "squawk" news line. >> we have learned that american airlines will become the first u.s. airline to order the new airbus a-321 plane that's a stretch version of the aisle plane think ofit as a replacement for the boeing airbus announced that they'll be launching this plane two days ago in paris the first order went to air lease corps, which is a leasing company thatleases airplanes t dozens of airlines around the world but this is the first order with american saying, yes, we will buy and fly the airbus a-321 xlr. a conversion for a previous order but this is significant and important not only for american airlines but for also airbus

. >>> welcome back and thanks for being with us here on cnbc, everybody.brian sullivan good tuesday morning let's kick off this half hour and kick off the morning headlines. >>> here's what's leading cnbc.com the messaging service says it expects revenue growth to slow in the coming quarters it's expected to make its debut in the coming months microsoft previewing its streaming service in project x cloud at the annual e3 convenient they'll stream the series right to their mobile devices. microsoft teases its newest consol microsoft scarscarlet it will use amd chips no surprise. up almost half a percent and shares of devices up about 1.3% and as brian alluded to, good news for commuters prices continuing to pump. the average down 2 cents to $2.73, that's a full 19 cents cheaper than this time last year, brian, as you well know. >> thank you we'll see you in a minute. it looks like that's what we're going to do. you know what's interesting about the futures, guys, and we've talked about this for a couple of weeks. for whatever reason, the futures used to sta

and has the findings for us now. >> not just me, our whole team at cnbc, bill. today, we have those results from the first cnbc technology executive council survey and the council so far is made up of about 100 top tech executives from some of the world's largestcompanies acros industries and sectors what keeps them up at night? the threat of cyberattacksering according to respondents, the threat of cyberattacks is the single biggest risk to their companies this year, and the need for vigilant cybersecurity is vital as companies continue to store and process just an unprecedented amount of data 70% of respondents also say their firms are now making use of more than half of all the data they collect. and tech executives aren't expecting law enforcement to shield their companies anytime soon 62% say they have no confidence in the u.s. government's ability to protect organizations from cyberattacks for more on the executive council, head to cnbc.com/tec. >> they're going to try to protect themselves rather than allowing the government to do it >> understand they ha

stay tuned to "squawk box" here on cnbc. we're the slowskys. on hold. what we don't like is relying on fancy technology for help. snail mail! we were invited to a y2k party... uh, didn't that happen, like, 20 years ago? oh, look, karolyn, we've got a mathematician on our hands! check it out! now you can schedule a callback or reschedule an appointment, even on nights and weekends. today's xfinity service. simple. easy. awesome. i'd rather not. ♪ freeze frame, freeze frame, freeze frame ♪ >>> welcome back to "squawk box. take a look at the futures this morning. want to show you what is going on ahead of the market we're about 2 1/2, a littleove 2 1/2 hours away dow jones looks like it would open higher, 158 points higher nasdaq looking to open about 40 points higher. s&p 500 looking to open about 16 points higher. becky quick. >>> when we return, investors can expect a number of analyst calls on uber this morning, now that the ipo quiet period is over we're going to hear from canaccord analyst michael graham right after thisbreak and get his cal

thank you for being with us here on cnbc.e scene of the massive explosion at a refinery complex in philadelphia, the one literally just over our shoulder we'll talk more about what we know, what we don't know, the bankruptcy last year, the bizarre ownership structure and what happens now that large parts of the largest refinery on the east coast are now offline. a lot of questions we're here all day to try to get answers. >>> but before we do that, let's get a check on this morning's other top news and headlines nbc's francis rivera is in new york with those. good morning. >> good morning to you, brian. we are following yet another round of wicked weather. in kansas hail that measured over 2 inches across rained down video shows the intense moments that it pounded the town of ellsworth. areas of kansas reportedly saw wind gusts over 100 miles per hour. >>> south bend, indiana, multiple sightings of a powerful tornado leaving behind a path of destruction. this day care center was deveerly damaged by the high winds. >>> bicente

welcome to "squawk box" on cnbc. we are live from the nasdaq market in new york city. u.s. equities. this is the first trading day of june and as people who are bulls going to be happy to put the month of may behind us it was a rough one we are looking at the dow being down the last six weeks in a row. that's the first time that has happened in eight years. the s&p 500 and nasdaq have been down the last four weeks last week alone the dow was down by another 3%. this morning we are looking at red arrows these aren't severe declines but the dow futures are down by 83 points nasdaq off by 33 should point out that the nasdaq is up more than 12% for the year however, it is moving closer to correction territory it has a 9% decline from the may 3rd closing high let's take a look at what's been happening this morning in other markets. >> ten year? >> oh, my goodness 2.095%. >> the dow was down 200 when i woke up. if you were going to put bets on this, would you say 1.9? >> morgan stanley cut from 245 based on the tariffs. >> 30 year fixed rate mortgage is looking good. >> yeah. if

i'm sara eisen >> and i'm wilfred frost alongside mike santoli senior cnbc commentator.o the close nonetheless, essentially flat for the dow. s&p's down slightly. nasdaq down half a percent russell down 0.9 for the week as a whole, though, we do have gains for the major indices. up about half a percent or so for the s&p. >> what stood out to me this week, the dow transports this was one of the pessimists' argument for going into this week they're a leading indicator. there are trains and planes. they tell us something about the economy. they performed terribly. this week they came up a lot 1.6% for the week. outperforming the overall market still down 11% from recent highs. but potentially a bullish signal things continue to repair this week in the market and certainly in the mindset, whether it is better economic data or just the fed or whatever was the catalyst things were looking better >> just going to point out yields down today but a very strong dollar. euro and sterling slipped today. we did get a week to date gain for the dollar 1%. the individual stock i want to

thank you very much for being with us on cnbc. brian sullivan stock futures are higher, much higher in fact, something really interesting is happening right now. this, my friends, is why you get up so early to watch us on "worldwide exchange. the s&p 500 is 0.94% from a new record high. right now s&p 500 futures are up 0.93%. that is how close we are from a record high if the market opened up now the yield on the ten-year note fell below 2% earlier this mo morning. rear at 2.00% right now. buyers have come into stocks and bonds. 12.5 trillion, that's your number of the day. we'll show you what it means and why it may be impacting our bond market and maybe impacting mortgage rates as well we have to get to that big breaking news out of the middle east oil prices up 2.5% after an american drone was shot down over the strait of hormuz. u.s. calling it an unprovoked attack let's get to hadley gamble live in the region. >>> good morning that's right now, u.s. officials, at least one of them has confirmed to nbc news that a u.s. rq-4 go

here at cnbc headquarters we are live in washington with more straight ahead. well, there's the beef the hottest ipo of the year sizzling in its first-ever earnings report. we'll have more on beyond meat's big beef we are hours away from the monthly jobs number. could this be the number that seals the deal for an interest rate cut big blue going pink. pink slips and job cuts coming to ibm and walmart upping the ante in the delivery wars. forget about the last mile the world's largest retailer wants to take it the last inch we'll explain on this friday, june 7th, as "worldwide exchange" begins right now >>> happy friday i am brian sullivan. well done, beyond meat look at that the stock soaring 20% right now. this after its first quarterly number since going public. we're going to go behind the bun to give you more on why investors have been buying the stock in force today wow. look at the number up nearly 400% since the ipo we'll get to that in a minute. but first let's go beyond the border we are following two major dwobing stories on the trade front. first to

treasury secretary steve mnuchin told cnbc he's not worried about the latest job number u.s.growth remains robust, at least in regards to europe and china. >> that's the bright spot in the world and that's the story i'm hearing today as it relates to the employment numbers, i wouldn't focus on any one number there's plenty of volatility in these numbers. we still see the growth in the u.s. is really quite strong and we are somewhat concerned about what we see as a slowdown in europe, china, in other areas of the world. >>> toy retailer build a bear backed its full year revenue and guidance in the first report it is based on no material changes to current global change conditions the american firm has a significant chinese supply chain and has raised its prices in anticipation of u.s. tariffs in china. we're joined by the ceo of build a bear workshop. thank you for being with us. >> thank you. >> how exposed, when it comes to your margins, is a business like yours to the kind of tariffs we've seen imposed over the last 12 or 18 months? >> well, we do have some levers that we c

cnbc joins us now live from london.eems to have fallen on deaf ears as far as the market is concern. what is the president trying to accomplish here? >> reporter: if you look at the chinese markets, the shanghai composite one of the main stock markets over there has seen its biggest daily rise in the past month giving us a sense investors are not concerned by these latest comments from president trump, hard to get inside the president's head. we know he likes latest comments. we know he likes to project strength ahead of these kind of negotiations and we know he likes and respects xi jinping, the chinese president. he very much likes to operate on a one-on-one style scenario. this may be a way for him assuring xi jinping does meet him at the meeting. that will be at the end of this month in osaka, japan. for amazon, it doesn't stop. a reward credit card for shoppers who wouldn't necessarily qualify for credit otherwise. how is this going to work? >> there's a couple of things at play here. you always have the idea that

>> good morning, everybody welcome to "squawk box" on cnbc. we're live from the market site in times square. i'm becky quick along with joe dow indicates up by 126 points it's now been six days in a row we've seen the dow close higher. that's the longest winning streak we've seen in 13 months s&p 500 is up. 15th day in a row. it's up another 15 points. the nasdaq up by 62 points it's been up five sessions in a row too. take a look at roy happened overnight in asia. you're going to see the nikkei was up by a third of a percent the hang seng up by thr three-quarters and shanghai up about 2.5% the cac is up and the footstsef. the yields something we've been watching closely >> ticking up a little more like it was yesterday and that was a big difference in yesterday's market rally compared to the risk on tone to the sector performance. >> thanks for that if you're looking for a negative, we did come off the highs. a couple of offsets, but it was a more constructive. >> we're getting back. i'll tell you. i can tell you week ago -- what's -- a week

on cnbc.ank you very much for being with us on cnbc. it is 5:33 here's how your money and investments look we need 1.6% to hit new records on the dow i said it every day this week. it's changed because the dow has gone down the last couple of days futures are up triple digits right now. 98 points, not 1.6%, but it's very early anything could happen. this next story, your top story could impact the dow our price-weighted index and apple is very important. johnny i've is leajony ive is leaving the company. josh, it's 2:30 in the morning there. we appreciate it this is an incredibly important man, an incredibly important story. i know you know him. you cover apple as well as anybody out there. was this expected? >> this means an apple icon will leave after the end of this year apple stresses he's not complete completely gone. he plans on creating a new independent firm apple will be one of his big clients and he'll work closely with the iphonemaker on what are referred to here as exclusive projec

time for a cnbc news update. herera's got it for us hi, sue. >> i do indeed hi, wilf former host of comedy central's "the daily show" jon stewart delivering fiery emotional testimony to a house judiciary subcommittee today stewart grilling members over the need to reauthorize funding for the 9/11 first responders compensation fund. >> your indifference costs these men and women their most valuable commodity time >>> a lawsuit being filed in philadelphia over the grenfell tower fire in london which killed 72 people the lawsuit claims that faulty materials produced by two pennsylvania-based companies contributed to that blaze. >>> and finally, amazing video of a police chase in central florida. a suspect driving a stolen mail truck led police on a dangerous pursuit, eventually ending in a crash. the suspect was then pulled from the truck along with a lot of packages that were in that truck as well. you're up to date. that's the news update this hour, guys i will send it back downtown to you. >> all right, sue, than

wasting no time at all, president trump called in to cnbc to slam and shame the chamber. diswhr well, i gues. >>> well i guess he's not sobri. without tariffs we would be captive to every country. we lose a fortune with virtually every country. they take advantage of us in every way possible and the u.s. chamber is right there with them. and as far as the u.s. chamber of dmers, the commerce, they hat representing the united states, not just the campaigns that are members of the u.s. chamber of commerce. lou: and the president concerned of the merger of aerospace companies right lessen cooperation saying, quote, when i hear united an raytheon, when i hear they're merging, does that make it less competitive? it's already not competitive. they're two great companies. i love them both but i want to see that we don't hurt our competition. 100ceos signed a letter crying pro-life legislation throughout the country. let me repeat that. the ceos are getting their noses into politics. isn't it brilliant. don't you know better that the ceo of ben & jerry's has a strong view of abort

she has a cnbc news update at this hour. >> good morning, david here is your cnbc news update.o meeting with indian prime minister modi in new delhi he health a joint news conference with his indian counterpart, downplaying their disagreements over trade >> tariffs and counter tariffs we said we are going to do our best to make sure that all the people are in the right places and work through these problem to get on with the business of growing our commission. >> bahrain's king led by treasury secretary steven mnuchin and white house advisor jared kushner unveiled their $50 billion middle east peace plan and are trying to gain support for it at a workshop in the country's capital. >>> a mystery buyer snapped up a painting that was discovered five years ago in a french attic. it was said to be auctioned off tomorrow the painting has been estimated to be worth $170 million the price along with the buyer's identity was not revealed. a treasure to find in your attic. that's the cnbc update for this hour back to you, david. >> okay. thank you, courtney. >>> when we come back, d.c. t

that is a cnbc news update at this hour. >> they seem pretty pleased.hat was a huge celebration. >> yes, indeed, it was >> you can say esthetician that's a hard word >> i'll see you in a half hour >> thanks, tyler. >>> here is what is still coming up on "the exchange. >>> ahead, the crypt ocomeback putting a price on your data what it could mean for your social media experience. >>> delivery could get more costly >>> and the flying saddle. it's all ahead on rapid fire that are unnecessarily complicated. but you're not mad, because you're trading with e*trade, which isn't complicated. their app makes trading quick and simple so you can strike when the time is right. don't get mad, get e*trade and start trading today. >>> welcome back let's catch you up on a couple headlines on your radar today. it is time for rapid fire. courtney reagan and morgan welcome. bitcoin cracked 11,000 earlier today after first doing so this weekend. kind of depends on which price reference. shows it is at 11,023. the future-- you guys know how it works more than a 15-month hig

cnbc's meg terrell is following the money for us today >> hi, guys. this is obviously a huge deal.t seems to be befuddling abbvie shares throughout the conference call ceo rick gonzalez tried to lay out the rationale for this deal. abbvie is paying a 45% premium to where allergan closed out yesterday. they are paying a combination of cash and stock here. and that $63 billion amount doesn't include about $20 billion in allergan's debt that's a more than $80 billion deal here. i spoke with rick gonzalez by phone, that's the ceo of abbvie, earlier today. he outlined the rationale here it diversifies abbvie away from their drug humira. that's going to face patent challenges, loss of exclusivity by 2023. that's a major thing here. they're not betting it all on allergan's pipeline. they're buying it for the $15 billion a year they already have in revenue they say they like what they've got in neuroscience, gi, and women's health care. they have botox, which is a $3.5 billion revenue driver abbvie also said they were looking at other targets they were trying to figure out how to replace t