is up 60% and predicting big moves to come all the stranger things in the options market, we have dom chuhi, dom. >> i don't know if orange is newt black, melissa, but i do know how netflix has traded in recent memory, and it be's been roller coaster ride. all that in just a little bit. according to data provided by thompson reuters, the company is expected to report .64 a share on $3.7 billion of revenue subscriber growth and international streaming growth numbers will be the big metrics to watch that brings us to the anticipated trading action over the course of the past eight earnings reports, netflix stock has been a bit of a coin toss on a positive or negative day following earnings you got four up and four down. during that span, shares have moved up or down by an average of 8.5% with double digits up or down in five of those eight reports. as of now we are seeing the markets at 10% moving in either direction. melissa, traders will be looking to see if they can remain unbreakable in the wake of netflix earnings, whether their name is kim my schmidt or not. back over to you >> thank

>>dom chu in the newsroom.are is up 37% but down 18% from its high so with earnings next week, how should you play the stock? make has another call action. >> we'll look at call calendar in square. if you think about trading in the markets, what do we like to do sell high, buy low we'll try to do that because of the upcoming earnings so this is an opportunity to sell expensive options to take advantage of the fact they're not as expensive. we'll buy lower implied volatility options and the nice thing about this, this is a way to play for a range-bound action that will be less than the 8% implied move without getting naked short up or down so we're taking limited risk going into a catalyst so looking here we can see things had a wild ride we had some sense that over in this area that the stock might rally but in general, and we've seen this from stocks announcing earnings, it might not be unreasonable to think the upside might be limited so i was looking out to july, you can buy these 48 strike calls for $4.50 a

that could be a $1.5 billion swing in market value fit comes to pass. >> dom chu, thank you. >>> squares up 37% but down around 18% from its high with earnings how should you play the stock another "call to action," mike >> we're going to take a look at call calendar in square right now. and think about trading in the markets. what do we like to do? we want to sell high, buy low. that's what we're going to try to do with our call calendar because of the upcoming earnings, near dated options have gotten expensive. this is an opportunity to sell some expensive options to help hedge and take advantage of the fact that they're not as expensive, we're going to buy lower implied volatility, longer-dated options this is a way to play for a range-bound action that's going to be less than the 8% implied move, without getting naked short up or down we're actually taking limited risk going into a catalyst so taking a look here. we can see obviously the thing has had quite a wild ride. actually we had some sense that over in this area here that the stock might continue to rally a little bit higher.

dom chu breaking it down. >> reporter: the sound of a credit card swipe isn't as ear catching as maybe ringing of a register but that does not meet they're any less noticeable for a traders. we've already gotten the results from visa and paypal. visa hitting an all-time high yesterday. we're watching for square earnings on wednesday and then mastercard earnings on thursday. masser card did hit his own record high in around mid-march, around 4% below those levels. it's square that could really be the most exciting out of the entire bunch just due to the anticipated volatility around the stock. over the last year it's gone from around 18 bucks to as high as 58 plus, a good part of that had to do with maybe some optimism square's decision to get more in the cryptocurrency side of things. price volatility in crypto has been a contributor to the down price action in square. it's already 18% or so below it's record high, and the options market already expecting fireworks. prices could be an 8% move possibly up or down. that could be a $1.5 billion swing. >>> square is up 37% this year but st

. >> let's get to another sector that was slaughtered today industries dom chu. >> dan nathan just mentioned this idea there is an important seccor in financials for sentiment. another important sentiment indicator about what the market has been doing recently has been the industrial stocks. like you pointed out they have gotten beaten up pretty badly today and have been a barometer or sentiment indicator for what's going on with regard to the progress or lack thereof in terms of trade talks specifically with china. we looked at some of the industrial companies out there that have the most expezzure to china in terms of their business everyall according to data from msci and fact set, deer, 8% revenue exposure to china. caterpillar, 9%. boeing, 11%, 3m, 13% ford warner on the auto parts side 13% exposure as well. if you look at the charts of some of those stocks today you will see either market perform or market underperform action in those names. many time it's because they are used as gauges of the trade deal or lack thereof with china one other one i want to focus on is general electric.

. >> often times dom chu is with us but we never really know if he is with us or if he maybe taped something. >> he is with us tonight. >> dominic chu, what is your birthday >> i am here. >> he didn't answer the question we don't know if he is here. >> june 6. >> gemini, psycho gemini. >> do you have a real question >> no that was my question. >> thanks. it is good to see you. before we talk about these stocks that dom mentioned, here is an important question particularly when the market is selling off the way they are how do you know when a stock is cheap? >> well, one of the things that i look at is what metrics has this stock traded at before. so i look at its own history keep talking about this pe multiple which is price divided by the earnings. so i look at a company like a facebook, let's use google because i like that one the most we haven't seen earnings multiples in a way i can tell you, if i think i can buy google at a pe multiple of 21 here, it is actually better than that. this is a company with hundreds of billions of dollars with cash that makes the pe multiple less than what i

the next eight or ten months, no >> thank you, guys we'll leave it there >> let's get to dom chu rightow. closi closing arguments are taking place today. what we see is price volatility of the shares of time warner the justice department concluded its closing arguments. the court is in recess right now where at&t and time warmer will make their their argument. we are getting some words about the closing arguments that the doj is making. >>> they' there should be some structural remedies that are put into place at&t should be allowed to buy portions or parts of time warner this may be a bit of a concession perhaps by the justice department in case things don't go their way. in this case here, that's what the justice department is saying again, we are waiting until 2:00 this afternoon where at&t and time warner will make their closing arguments. that's the reason that you will see the price volatility of time warner >> if the deal is not rejected out right by the court then the doj will be in favor of other stru structural remedies. >> okay. correct. that's the reason you are seeing the

. >>> time for our etf spotlight dom chu looking at which index and sector-related funds are showinge momentum. >> a lot of ways traders look at quantifying the up or down moves. they use momentum-based indicators, measure different aspects of price movement. one is use of moving averages. we're looking at the average price of these etfs over the last 50 days, otherwise known as the 50-day moving average. then looking at how prices typically trade around this average price using something known as a standard deviation, which is just a measure of where prices fall most of the time compared to where their average is over that defined period. the more standard deviations above or below an average, the rarer the price move is. so according to data from market analytics firm kensho, some trading the furthest below their recent average price are the more economically sensitive sectors. for example, the spdr, the financial etf, xlf, around 1.4 standard deviations measures below the average price. and among the major sector spdr etfs, the materials fund, xlb, around 1.5 measures below its av

industrial giant reporting earnings before the bell on friday will it be a complete earnings bombshell dom chuack at headquarters with what we can expect. hi, dom. >> a good day for all ge stakeholders friday. it's fair to say they haven't been pbuying into the ge story yet. analysts looking on average earnings per share of $0.11 on sales of $27.5 billion pricing in a 4.5% move up or down in the stock around this report but the focus is going to be a lot heavier on commentary from company management about how the turnaround plan is progressing and what exactly is next ceo john flannery has the work cut out trying to reinvent one of the most storied companies in history and a lot of homework on what predecessors perhaps did or did not do. >> i worked for jeff for, you know, directly for the last 10, 12 years so the alumni, if you will, have unique perspectives. i still remember calling jeff shortly after starting the job he used to always say every job looks easy until you have to do it i remember calling and saying, you know, i understand that. you know, well now their perspective is invaluabl

. >> dom chu, thank you for that european equities are outperforming u.s. equities. let's get over to sue herera now with an update. >> good morning, everybody here is what's happening at this hour the white house says dr. ronny jackson remains assigned to the white house but not addressing reports that the navy rear admiral won't be returning to the job of president trump's personal physician he withdrew his nomination for secretary of veterans affairs last week. secretary of state mike pompeo holding a news conference in jordan along with his counterpart. >> with respect to the two-state solution, the parties will ultimately make the decision about what the right resolution is we certainly are open to a two-party solution that's a likely outcome. we certainly believe that the israelis and palestinians need to have political engagement we urge the palestinians to return to that political dialogue. >> south korea says it will begin taking down anti-north korea broadcast speakers placed at the border, part of a declaration that promised to cease all hostile activities

what's hot and what's not in utilities, dom chu has what's going on >> we all know as interest ratestility stocks don't become as attractive because those heftier dividend returns don't look as good as other things when you look at how the specter spdr for utilities has performed over the past decade, it's been a massive move on the left-hand side of the screen, you can see where the financial crisis and when it started. you're talking about a $25-ish stock. you can see where it is now. it's doubling from where it was before look at the relative evaluation. now we will overlay where the price attorneys ratio has been over the course of the past ten years. yes, it has been going higher. now we're at 16 times earnings let's look at the average pe ratio on a trailing 12-month basis during that time the reason why some experts are saying utilities maybe shouldn't be given up for dead because we're trading at the average price per earnings ratio >> dom, stick around david burke is here. the average price attorneys ratio, but by some metric 18 times earnings for a utility seems a little ri

dom chu is watching it he just spoke to a very special guest as well. er: it's amazing here gary came here after he hit the ceremonial opening tee shot alongside jack nicklaus, two hall of fame golfers here. the masters this year has had a lot more buzz than previous years because of one man in particular gary player spoke to us about why tiger woods is so important to this tournament >> it is an atmosphere here this week that everybody's talking about. that is, there were always about 15 guys who could win. now there are 20, 25 guys that can win this year. the thing about this year, they're all playing well and we have different scenarios this week. obviously tiger woods has had a lot of adversity in his life, to come here now and possibly win a major, i didn't think he would ever be able to do that with all what he went through it just shows what a competitor he is. so he's got a good chance to win. and we need him to win because he brings out the people, the media, the sponsors, the public, everybody. you can see a vast difference in ticket sales >> r

let's go over to domenic chu at hq he's got the european clothes. dom. >> europeans are mixed you see the dax, german business sentiment declining in april a different check of a sixth consecutive day of gains and the recent pull back in the pound contributing to that particular move higher. shire also among the big gainers in the uk as you have been hearing from of course, you, david, takada pharmaceuticals taking a fifth takeover in the uk you move on to some of the tech side of things the company dragging down some fellow apple suppliers, they have a slowdown site citing key customer complaints a different story with sap >> that reporting quarterly results at b and it's gaining grounds on salesforce and oracle as well. you wrap up the earnings picture. volvo missed the swedish truck player says the supply train falling on to disappointing results in its uk franchise. then you get dutch paint saw its profit fall in the first quarter on weaker sales and higher raw materials costs as well. we are waiting for president trump and french president macron s

let's bring in dom chu of cnbc. what a ride yesterday. >> what a ride is right. what has to do with it two big themes, one of them is whether or not interest rates continue to rise. if the market reacts negatively to that, that is one of the biggest story out there. may put a clamp down on consumer spending aspects. consumer spending makes up two-thirds. u.s. economy. if people have higher borrowing costs will they buy homes and other things on credit. that remains to be seen. and the other thing, corporations are neck deep in telling investors how they did this past quarter. one of the big shock waves coming from caterpillar whose cfo said on a conference call they may have seen their best in the first quarter. that send shock waves, stephanie. >> dan, weigh in here, you've got consumer staples down. companies advising us that rising rates could affect them. >> to me, you're walking a fine line here. there's a lot of things priced in markets where you think where the s&p and dow jones was when tax cuts were put in place in january. we had that move. the top of t

"squawk box" comes back after this break >>> round one of the masters is set to tee off today and dom chu. how'd you like that ride in? isn't that unbelievable? magnolia drive, dom, you must have loved them? >> it is, i mean the idea that magnolia drive is as pretty as it is is one part of the overall scheme in santiagoa. even the drive, i drove from atlanta two here even that drive felt leak i got goose bumps about. that one guy that knows about that is the ceo of taylormade golf he joins us here from right now. thank you so much from being here on "squawk box." >> i have to correct you and joe. it's not magnolia driving, it's magnolia lane. >> it's beautiful out there right now. so let's talk about the game of golful it is an exciting hot and spicy spot right now for the game of golf tell us why. >> no doubt. i think the game of golf is in a better position than in many years. certainly, i remember last year at this time literally, 12 months ago, we were talking about the incredibly young superu superstars, jon rahm, rory, mcrickie fowler, here tiger woods came back, a taylormade athlet

dan nathan back with me and dom chu of cnbc down on the nyse floor.ow this, volatility, if nothing else, is back. >> volatility is back, but it's not back in a hugely massively way. it's back in a more normal way. you talked to a lot of traders and investors out there and they say the last two years we've seen the marketplace, where the marketplace didn't do anything but go up over time, is not typical of a stock market we would normally see. what we have is a market that gyrates a little bit and that's what investors are more accustomed to. so in that way, the pullback we saw yesterday, it was, yes, a big one, but it wasn't nearly as panic driven as some people want to make it out to be. what we didn't see a lot was a lot of participation. so whether or not we do see some of these bouncebacks hold today will be key. we have seen in the past where markets start off positive for the morning but then fade for the afternoon. whether or not we see these gains hold, that could be a big test for this market overall. >> help me understand why do investors so

breaking it down is a man who's never too sensitive, dom chu. >> it takes a lot more than rising rate fears to crush me, but today's price action it leave some of the defensive sectors with wounds to lick and rates had a big part in that whole part of the market story two interest rates sensitive sectors took the bulk of the beating today. consumer stapes and real estate. there are some companies that consumer staples did underperform broad weakness in the tobacco stocks on the heels of morris's earning reports. same kinds of growth concerns there with p&g results. you got a pause in the flattening of the yield curve at least for now. it was great for many of those banks especially the regional ones the financial sector in the s&p was an upside stand out in an otherwise down market. our rates headed higher. that's a key medium to longer term question as we get back to those recent highs in the ten year yield that we saw in the second half of february, melissa. and what does that mean for all of those interest rate proxies will be a big one. >> thank you. >>> with the rallying rates, c

look forward to it >> dom chu has a market flash for us >> so scott, we want to call your attention tohappening with shares of apple they're just about flat on the day, but they have moved in the last 15, 20 minutes or so down towards some of their worst levels of the day. you can see on the chart, the reason why it's happening is research report issues in the last half hour by consumer intelligence research partners cirp, where they talk a little bit about perhaps some slowing demand in market share gains for the iphone x, compared to the iphone 8 and 8 plus models that report and its contents is moving the stock, so that's the reason we're bringing it to your attention. it remains to be seen whether or not people believe in that thesis, but that's the reason why apple shares are moving. we'll bring you more as we know more >> coming off the worst day since february as it is. just more piling on. joe, you sold half your position last week. >> yes, and to josh's point, it was purely a momentum story. nothing about the fundamentals dictating that move, but it lost the momentum, lost it

thank you both dom chu, kayla tausche some comments out of the white house, secretary mnuchin on cnbc we heard from larry kudlow in a brown bag lunch with reporters neither one giving the market what they wanted to hear so here we are, down 750. >> if we sum up the week as a whole, coming into today the dow was up 1.7%. clearly we're shedding about 3% but down 1.3% or so for the week as negative as it feels right now, down 750 and we're at the lows of today's session, we were higher for the week coming into today. the other risk-off factor, the dollar is broadly flat for the week and the bull market has ended where it was we haven't seen a huge rush into safe haven assets. >> we didn't hear from jerome powell this afternoon, some bond traders saying he gave the green light for bond yields to go lower, which they have now, instead of higher. >>> chinese officials responded pretty quickly to the president's latest threats of an additional $100 billion in tariffs. we have the latest out of beijing for us >> thanks so much. secretary mnuchin might be playing down the idea that the u.s. an

dom chu has been following all of this. w you've been digging into utx as well what do you see? >> we are looking at travelers you mention the $2.42 nap is the net income per diluted share we are looking at core income per diluted share. $2.46 per share versus the estimates for $2.68 per share. you mentioned some of those catastrophic losses. they did say net written premiums which is the proxy for revenue at travelers and other insurance companies was a record at $6.824 billion. if you look at that compared to the estimates it was a beat there as well. perhaps a bit of a miss there on one side of things with regard to the overall eps or core income per diluted share one thing i also want to bring up, i noted in travelers here, was a 7% rise to the dividend payment they're going to make. now going to be 77 cents per share per quarter going forward. the firm notes there's a compound annual growth rate in that period. those travelers shares do down 0.75% i would note, though, very light volume just about 750-some shares traded

let's go to dom chu at the desk. >> snapping a five day winning streak as some of the worries of theikes in syria cool off a bit. prices for wti down by about one one-third percent. prices, remember, had run by about 10% as anticipation really built up around those air strieb strikes. you coupled that with drillers add more rigs to the list last week and government data of course on wednesday. back over to you >> thank you very much >>> w. rks -- wpp shares down. sir martin sorrell has stepped down as ceo julia boorstin has the latest from los angeles >> that's right. sir martin sorrell is resigning from wpp following the conclusion of an investigation earlier this month into alleged personal misconduct. the company is not releasing details. but the resignation is being treated as a retirement qualifying him for about 19 million in pounds depending on the performance of the company he turned the company into a global ad giant including jay walter thompson among others along the way. he was famously well compensated. earning more than 70 million pounds in 2017 he only owns about 1.5%

. >>> for more on the big names moving on earnings let's go to dom chu. >> industrial stocks are tryingry here defense contractors in particular are playing a very big role in that market story around the sector overall. we'll start with the weakness in shares of general dynamics, the company behind everything from abrams tanks to nuclear attack sub marines. reported better than expected profits but sales that anioly missed combat systems were a positive but the gulf stream jet division was a laggard due to lower amount of deliveries of larger cabin private jets >>> general dynamics, moved off of its daily loez. they beat profits and raised full year profit exceptions. >>> we will ends on boeing the single biggest upside force in the dow today the commercial military and aircraft maker posted better profits and sales and raised its guidance as well. >> let's talk more about boeing. joining us to to do that is courter copeland good to have you with us you have seen this stock which has had a choppy first quarter this year moving from 340 today up to 500. how soon and how are they going t

chu. >>> dom mentioned ge, the worst performing down 25%. more than 56% shedding $145 billion in market cap. the chart master says the bottom could be near. >> this is outright speculation. and speculation if you think about it is forming a theory without firm evidence. this is just that going to be all hay wire and quite clever. this is back to the peak in '99. what we know is after the counter trend rallies you have this as it breaks down. a counter trim rally from the lows of '09 up until '07 and then this plunge. i want to use this construct and pull it back to longer term. here is going back to 1990. one of the great winners of all time. it peaks. and you have these two counter trend moves and plunges. keeping an eye on those two plunges, this is fun. if you look at the rsi, today it touched to the penny the exact same level as the '09 level. and the stock over the last two weeks is holding up a little bit better than the market. let me show it to you on a short term basis. even if ge goes to 0 or 1 maybe an enduring bottom sets in. on

overshoot one side and the other side >> exploring that head lien while we are discussing it dom chu>> the reason why the markets are moving off of their worst levels of the session have gotten back around 70 points just in the last, two moments or so, is on the heels of the bloomberg headline saying deputy attorney general rod rosenstein is reportedly not a target or told president trump he's not a part or target of the mueller investigation. now, the reason why we brought that to your attention is the markets did appear to at least move up or because of the headlines, but it's also important to thought here that earlier this month, the "washington post" reported on this that rod rosenstein said he's not a target of the move higher investigation, so, again, rema rehashing on the things reported by the washington post nonetheless, markets moved on it we'll dig in to see more, but for right now, that's the reason why, but, again, something to point out here that the "washington post" reported it back on april 3rd, about rod rosenstein and perhaps no targeting by the mueller investigat

. >>> time for etf spotlight dom chu taking a look at some of the etf with the most exposure to amazoninvestors are exposed to the effects of amazon stock simply because of the hefty weighting it has on the broader indices. if you hold more industry and sector-specific funds, the amazon influence could be a lot higher for example, the spydr discretionary index, amazon makes up about 20% of that fund alone, by far the biggest weighting. just for reference, the number two biggest holding is home depot with a 7% weighting. same story with the ticker bcr, 17% weighting there. many pros are aware of how heavily weighted amazon is in these funds and choose to use them anyway as a way to get overweight exposure to a particular stock like amazon you might wonder if many of these retail etfs are used to express retail industry views or simply a view on amazon.com. back to you. >> i will take it, thank you do want to get later in the show perhaps to more on cbs/viacom. for now, want to update people on another situation that's been out there for some time. pfizer's continued pursuit of a sale of

. >> dom chu, thank you very much for that shares of u.s.teel down big today, what's behind the move, and what it means for broader steel industry back here in a couple minutes. hi! i'm mike ditka. you know you don't get to be a hall of fame player without taking a few shots. even though i have been out of the game for a while. i learned to turn to blue-emu. blue-emu's, non-greasy, deep penetrating formula gets down deep for big time comfort. and more important it doesn't leave me smelling bad. well at least no funnier than you already smell, right coach? c'mon man, give me ten! blue-emu it works fast and you won't stink! [ counting pushups ] 1, 2, 3 ... >>> this is your cnbc news update at this time. thousands of striking teachers in arizona will return to class if lawmakers meet their demands. they are rallying for a second day at the state capital calling for a 20% pay raise and increased spending in education. teachers in colorado are also rallying for a sec day in their state's capital, and they want increased pay and better classroom r

i'm going to send it over to dom chu with the inventory report. >> the official government data weekly seeing a build of 2.2 million barrels of oil that compares to analyst estimates for a drawdown of 2.2 million barrels of oil also on the gasoline side of things, a build of 840,000 barrels there. the estimates for gasoline inventories down 2.2 we're watching oil prices move on this particular data on the heels of private sector data last night that also showed a build of 1.1 million barrels of oil. back over to you >> pressuring those prices a bit here dodge dom, thank you >>> kohl's has actually seen its e-commerce business grow to $3 billion and sales over the past decade the man at the helm, kevin mansell, now set to retire at the shareholder emeeting next month. let's get out to kohl's headquarters in wisconsin where courtney reagan is >> thank you very much i'm here at kohl's with kevin mansell, chairman and president, for just a little longer this is effectively your exit interview. really happy to be here with you today. it's been a really strong 2017 got very strong in the fou

dom chu is looking at other swings when did you leave down there? asking me was it fun down there the non-glitzy side of covering stories like that is we were on the ground for less than 20 hours and i was on the 6:30 flight home on thursday evening. >> you walked the grounds though. >> no. i did not get to step foot on the grounds this time around. >> now you are depressing. you got nothing. >> i got nothing except maybe centipede financial. that's something we could talk about in the future. >> right that means there could be a thousand shoes to drop or a hundred i don't know. >> a hundred we could go that route >> in the financial crisis >> let's get back like you said. the markets. as you guys have been pointing out for the last hour and a half or so and certainly on "worldwide exchange" this morning, the idea we will open 340 points to the upside is reassuring for the bulls because we're going to make back a good chunk of the losses from yesterday's highs going down at the market close yesterday we were only up 46 by the time things were done i

. >>> morgan stanley out with results beating the street in its latest quarter dom chu is just gettingfirm cfo and he joins us with the headlines. >> so the morgan stanley cfo is getting ready for that earnings conference call. that starts in about 15 minutes here james gorman the ceo and the entire team trying to prepare for this particular report i did get some color commentary from pruzan. they reflect their top spot in m&a. some of it has delayed but they're seeing healthy markets they're seeing equities trading that helped the growth in years. th they're paying close attention but something they're watching it it relates to the backdrop for the markets. also happy with the performance of the wealth management franchise and the pretaxed profits there. higher levels of activity comes from whether people pulls back from geopolitical risks and headlines out of washington. we're not there yet, he says, but something they're paying close attention to back to you. >> he's not the only one watching dom, thank you very much >>> in our headlines this morning, in a tweet last night, presiden

dom chu joins us now >> good morning.ing that much sign of strain i show signs of strain this morning. all mornings all the time here maybe we should talk about the markets. there are positive signs out there. earnings is one of the highlights 133 companies on the s&p 500 will report. mcdonald's the big one today and then of course apple, the highlight, after the bell tomorrow that's going to be a big deal. according to reuters, as things stand right now, s&p 500 earnings growth could come in at 24.5% if all other reports come in as expected earnings going by about 8% certainly not strained for the markets. take a look at the treasury picture as well. we do have a two-day fed meeting coming up with a rate decision expected to be unchanged on wednesday. then of course big jobs numbers on wednesday, thursday, and friday currently 10-year note yields around 2.96% you're talking about just that 47, 48 basis point difference. and we'll end on this. the non-farm payrolls number the granddaddy of them all the most important econ

for that, we'll go to dominic chu. dom?lowing the rest of the market toward the lows of the day. what are the other motivating factors could be a bloomberg report, saying that tesla, the electric car maker, is facing a separate probe with regard to possibly workplace safety. this is in addition, says bloomberg, to the probe earlier this week opened by the california occupational safety and health administration with regard to alleged workplace safety violations. remember, cal osha, that regulatory body says they take all these allegations seriously. also tesla saying that for the first probe that they are cooperating with the agency but that those allegations are baseless so, something we're watching, jon, as we keep an eye on tesla shares during midday trading back to you. >> thank you, dom. >>> ahead, still more on what apple supplier changes and iphone sales could mean for earnings, which we'll get in a little over a week >>> and it's 4/20. snoop dogg's capital venture firm will join us. more "squawk aeystll" raight ahea

dom thank you. atminic chu along with me. th does it for "closing bell." and "mad money" with jim kramer is up next at my firm, i act in the best interests of my clients. i can tell them i'm supported by one of the world's strongest, most admired financial firms. fewer constraints, the freedom to do what's best for my clients. that's why i'm independent. charles schwab is proud to support more independent financial advisors and their clients than anyone else. visit findyourindependentadvisor.com i'm all-business when i, travel... even when i travel... for leisure. so i go national, where i can choose any available upgrade in the aisle - without starting any conversations- -or paying any upcharges. what can i say? control suits me. go national. go like a pro. you know you don't get to be a hall of fame player without taking a few shots. even though i have been out of the game for a while. i learned to turn to blue-emu. blue-emu's, non-greasy, deep penetrating formula gets down deep for big time comfort. and more important it doesn't leave me smelling bad. w

. >>> let's get to dominic chu with the european close. dom?t story in europe stocks mostly lower in the wake of those u.s.-led missile attacks in syria russ russia one "the biggest loser"s. that rts moscow index down by about 13% in the last two weeks alone. recouping its earlier losses against the u.s. dollar. meantime in the uk, pound sterling rising to an 11-week high against the greenback, helped along by optimism about this week's brexit talks on the m & a front, volkswagen trucks division suggesting its open to acquiring a majority stake in navistar of the united states the current stake is around 17%. according to u.s. law, any stake above that number would require volkswagen's heavy truck business to issue a formal takeover bid for the company sir martin sorrell stepping down as ceo of wpp. shares of that uk ad giant have handily outperformed the london ftse certainly a big focus in trading in europe and the u.s. today back over to you. >> all right thank you, dom and as we head to break, taking a look at the major averages in contrast

it's time now for business before the bell with cnbc's dominic chu. domo face shareholders at its annual meeting tomorrow just days after the bank was hit with a $1 billion fine from the federal government. how much outrage is the bank's leadership expected to face over this? >> it could face a lot of it. when you're accused of lending abuses against your customers, they may have a lot to say and some of those customers may be sher shareholders. those wells fargo have lost and investors and traders are pinning on the idea that the bulk of the bank's problems may be behind it. there is a lot of skepticism. but we'll hear a lot more about whether or not those shareholders have that outreach tomorrow. the meeting is in des moines, iowa, at the marriott downtown so something to watch. >>> we're also watching what's happening with technology. i was listening to that interview that you had with aleksandr kogan, cambridge analytica and the data scandal so we know how much customer privacy is in the news. if you think facebook knows a lot about you, you don't wan

. ♪ >>> let's get to dominic chu for a sector flash hey, dom. >> are they at play given what's happenedinterest rates specter, we've seen volatility as of late four names within the 28 stocks in the s&p 500 utilities index could have double-digit price appreciation in the next 12 to 18 months if analyst corrections are correct. ppl the highest at 13% there, carl back to you guys. >> dom, thank you very much. >>> president, of course, at the white house today, meeting merkel, as well as some olympians. according to reuters just now, says he will meet with north korea's kim in the coming weeks, hopes for a day when all koreans can live together on a denuclearized peninsula. when we come back, a lot more on a. amazon's blow-out quarter. giant ipg ceo will join us in a moment ♪ today is a good day to make a plan for your financial goals and your everyday ones too. pnc can help. we'll be with you every step of the way. let's start today. anyone can get you ready, holiday inn express gets you the readiest. because ready gives a pep talk. showtime! but the readiest gives a pep rally. i cleared

. >>> dom has something positive for us now to focus on, mr. chu>> we are talking a little about the positivity, but we can focus on what's happening with the marketover all we decided to take a look at parts of the market doing pretty well overall we looked at the s&p 500 and said, hey, which ones are actually still holding up relative to where they have traded historically? we ran a screen and looked at s&p 500 companies and took a look at exactly which ones have been trading still within their recent highs and 23 they have been, are they still positive year to date? turns out only 25 of those companies fit the actual bill we're talking about there. as things shake out around the close. among the names you talk about, they're the ones that maybe some investors look rat for some signs of momentum or at least sustained support. we're talking about interesting ones, like the likes of northrup grumman, which is 4% away from recent highs yum brands on the restaurant side of things within 4% tapestry, formally known as coach, about 3.5%. conocophillips

chu. half a percent in early training, arconic. they say it will be a year in transition now back to you at the new york stock exchange sara >> dom,> the only known white gold daytona rolex, estimated value of over $3 million we are joined by our very own robert frank and paul butros robert, take it away. >> good morning, guys. phillips auction house about to sell over $24 million worth of watch this is month. this watch is called the un corner because there's only one. tell us about what could make that worth over $3 million. >> for collectors of wristwatches, when the world found out that row lax made a white gold daytona, the collective community's jaw dropped. in the past they were made of stainless steel and yellow gold. when this came to market and was announced in 2013, it surprised everyone it has become now the holy grail. it's the ultimate daytona. >> partly because paul newman's row election daytona sold for just under $18 million that was a life-changing event in the watch world what did that do to prices soared prices for daytona. >> in the world of modern luxury watches and in vintage watches, it's the most sought-af