. ♪ >>> i'm dominic chu. brian sullivan is off today. let's get you to the top headlines.rank holland is back with your morning headlines. >> cnbc.com right now. boeing is doing some damage control following its second fatal plane crash in less than five months. the company ceo says boeing has been relentless when it comes to safety he added the investigation is moving forward and that a software update for the 737 max will soon be released. >>> the brexit battle roll on. u.k. house of commons dealing theresa may another massive blow effectively banning her from bringing her brexit deal back to parliament for a third time. this comes just ten days before the u.k. is slated to leave the european union and the s.e.c. is blasting elan musk for a series of tweets that he sent last month it says that musk is in blatent

. ♪ >>> good morning and welcome to "worldwide exchange" i'm dominic chu.an sullivan is off today. futures right now pointing to a relatively stable open just about flat for the major indexes. the dow just down by 3 points. the s&p up by 4 and the nasdaq up by about 17 but first, we're following a major developing story on boeing the department of transportation reportedly investigating the faa's approval of the boeing 737 max planes frank holland joins us with more on this top story. >> they are focussed on a safety system that has been implicated in the lion air crash and indonesia last fall. authorities are investigating whether that anti-stall system played a role in last week's ethiopian crash. it's unclear whether that justice department and transportation department probes are actually related the journal says its generally unusual for prosecutors to investigate the approval of commercial aircraft. those cases are typically handled by civil cases by the inspector general of the d.o.t., although that office can make criminal referrals the new scrutiny

dominic chu takes a look. >> it's been a banner start tohe 2019 for stock market. if the s&p 500 can stay above a gain of12%, we will be on pace for the best first quarter performance for that large capc index sin the start of 1998. now, during that quter, the s&p gained nearly 14%. but it's not the only part of the market that's moving up at a break-neck pace. after gteting bn down during the final weeksfnd months 2018. the nasdaq composite is up arou 15% so far this year, meaning it's on pace to have ist uarter to start a year since the year 2012. drilling down into aouple of key industry groups to watch, transportation stocks, often a focus for traders and investors, as al possible s for overall economic activity. the dow jones transportation index is up around 13% so far this first quarter, meaning it is on pace for its best quarter to start a year since 2013.an computer chip stocks also on a tear with the semi conductor etf up around 19% quarter to date. if things stayhis way, it will be the best q1 since the inception of the fund going all the way back to the

welcome back to the show i'm dominic chu. futures indicating another positive open in session today the dow slated to open up by just about 84, 85 points at this stage with the s&p up by just around maybe nine, ten points at this stage the nasdaq up by 21 points as well on the asia side of things, we did see a little bit of a pullback in certain key markets there, bit not much. the shanghai composite up by .2%. the hang seng and hong kong was actually higher by .2% the nikkei in japan oof about .1%. the feeling in europe right now is generally positive. there's green across most of the major forces on the continent. the dax in germany up by .5% the pak in france up, and the ftseey 100 in the u.k. up by about .5% as well. let's stick with the europe side of things. the clock is ticking towards brexit we are now just ten days away from that, and theresa may was just dealt another major setback. wilhem marks joins us live with those details. is a vote going to happen? it seems not >> that doesn't looks like it's going to happen

i'm dominic chu at cnbc global headquarters. here are today's top business headlines.l street set to open in the green this morning. stocks did rise slightly yesterday. the dow posting its first four-day winning streak in five months, and the nasdaq closing at its highest level since october. on today's watch list, a report on factory orders and the federal reeected to raise interest rates but invrs will look for clues about its outlook for the economy. >>> more americans are paying for streaming service. 69% of house holds have at least one streaming subscription versus 65% with pay tv that underscores the continued popularity of the likes of netflix and hulu as more consumers become turned off with the higher costs of cable and satellite packages. the average consumer pays for three streaming services, binge watching with 91% of millenials saying they watched three or more episodes of ai show in a single ceo. ne will not be part of what apple's streaming service. netflix is available through the app store. apple isvice at an event next monday, while it will feature s

i'm dominic chu. crude oil pulling back down 2%.ny, crude not far from that $60 mark hit earlier this week what do you think needs to change to get it back on that uptrend? >> well, dom, yesterday on futures now i said there would be a technical pull back on this market, that it was overdone, it was up 10% in less than two weeks. i'm not ready to throw in the towel. i would be a buyer down there. the first time because we've seen large draws in this market and that's where we'll pull it back towards 60. continued large draws. >> jimmy, we just heard one level. what other levels are you watching right now to see what this trade will do >> crude has been remarkably well behaved technically and once i want traded above 60 it hit an upper resistance trade line make no mistake, it started its rally from december 24th the same as stocks topped out yesterday like stocks crude is trading as a risk asset. as long as stocks have to shake out crude follows. down to 57 >>> our thanks to you both for more futures check out our for more futures c

. >>> good morning, and welcome to worldwide exchange i'm dominic chu. brian sullivan is on assignment today. we'll hear from him later on in the show let's get you up to speed on what's happening out there right now. bertha coombs has your executive recap. good morning, bertha >> here's what's leading cnbc.com right now the faa says boeing 737 max 8 jets are still airworthy following a second crash involving a plane. the agency will mandate that boeing made a software fix to an automated flight control system that plads a role in the crash of a lion air jet back in october. boeing's shares are lower in the premarket. elan musk's lawyers slamming regulators late last night they're arguing that the s.e.c. was infringing on musk aus first amountedment right by continuing to hold him in contempt of court. he explained why he shouldn't be held in contempt over a tweet he sent last month about tesla production his lawyers say the tweet in question did comply with earlier s.e.c. settlement terms. >>> and apple announcing a press event for march 25th and tech g

these days welcome back to worldwide exchange i'm dominic chu.heck on the top movers shares of adidas, they are moving today the company says it expects some issues to hit its sales growth particularly in north america. adidas did manage to swing to a profit last quarter because it is also upping its dividend. the shares down by 4% in european trading rite aid is shaking up its top management the pharmacy chain's ceo is part of a plan for a leadership revamp rite aid is also slashing 400 corporate positions. those shares up by 17% preplarkt. we're continuing to keep its eyes on shares following yesterday's big gains. the chinese social media company jumping 16% on tuesday following a big earnings boat. shares are higher again in early trade by just about 1.5% as well >>> let's get a check on the morning's other headlines outside of business. nbc's frances riviera live from the newsroom with the latest >> hey, dom. good morning to you. a college admissions scandal ensnares top ceos and celebrities. desperate housewives star felicity huffman and fu

long time berkshire shareholder, robert miles, author of the warren buffett ceo, also with us, dominic chu and steve liesman. gentlemen, welcome good to have you both with us. robert, let me start with you. did you hear anything there that surprised you? sounded pretty much like the buffet play book doesn't seem concerned about a recession. not particularly vexed over the inverted yield curve as of almost 89-year-old man probably, shouldn't be >> i didn't hear anything new. his usual self in terms of entertaining and very quotable but in terms of what he would do differently if we went into a recession, he said he would welcome in and that runs contrary to what most people believe, that berkshire hathaway does better when the markets decline, not when we've had a historical bull market in the last decade or so. >> certainly a time for berkshire historically to pick up, beaten down stock bargains dom chu, he talked a little bit and steve, he talked about bonds versus stocks and here, again, no surprise, he likes stocks >> the lower interest rates go, the more attractive stocks become you do

i'm dominic chu. brian sullivan is oof today. you up to speed on the morning's top headlines. contessa brewer back with your executive recap. >> here's what's leading cnbc.com first a brexit update. prime minister theresa may racing off to brussels she's going to pitch her plan to delay the u.k.'s exit from the european union delay that until june 30th the delay needs to be approved by all 27 other e.u. leaders the fbi is reportedly joining in on a criminal probe of the boeing 737 max plane certification process. boeing and the faa are under increased scrutiny following two fatal crashes of the 737 max planes in the last six months. the faa said yesterday a software fix for the grounded 737 max planes is "an agency priority." boeing shares are down slightly. three-quarters of a percent in premarket stragd levi strauss at $17 per share. that's above the expected range and values the denim company at about $6.6 billion levi's stock is expected to begin trading today on the new york stock exchange under the symbol levi. >> shock, i

deirdre bosa in san francisco taking a look at the next battle front between lyft and uber and dominic chu at the new york stock exchange looking at what today means for the next round of ipos and the next catalyst for this incredible bull run seema, kick it off. >> tyler, an active day here at the nasdaq with lyft shares opening for trade at 11:45 a.m. eastern above $87, currently holding on to the $80 handle it is the biggest ipo of the year and sets the tone as a number of silicon valley unicorns prep their offerings. strong volumes, over 60 million shares exchanged hands and it is already with a market cap of $23 billion which makes it larger than hershey, discover, and motorola. >> seema, thanks deirdre bosa now in san francisco at the airport for more on lyft's road to becoming a $20 billion company and a look at what's next, deirdre? >> reporter: kelly, we are a long way from the company's first iteration of the time called zim rights back in 25 market cap of $23 billion, larger than some established companies like united continental and american airlines lyft not profitable but cof

. >>> welcome to worldwide exchange i'm dominic chu. brian sullivan is off today futures are in the green the s&p 500 indicated to open higher by about four points. the dow jones up by 35 the nasdaq up 12 to 13 treasuries certainly a focus today. the fed wraps up a two-day policy meeting for right now ten-year treasury note yields around 2.6%. two-year note yields 2.46% the business focus onning with toted. the fed. let's bring in gina sanchez, ceo at -- also a cnbc contributor. gina, it's fair to say that there is not an expectation that there is going to be an interest rate decision, but what exactly will be -- >> i would say that hawkish bias would probably be a negative for the markets. particularly given how they reacted to the financial tightening in december >> so -- >> i think the second thing we're looking for is -- >> i was going to say, please continue >> well, i think the second thing we're looking for is the plans for the $2 trillion run-off. where does the fed back. even most important is that the idea that the dot plots w

dominic chu, seema modi and bill griffeth fedex saying it suffered from slowing international macro economicons and weaker global trade growth and tough exchange rates the stock is on pace for its worst day in three months. >> and ubs and bmw and samsung and that's just this week. >> it's an onslaught at this point. it's a trend, clearly. look no further than the ten-year yield which is below 2.6% the stock market is sort of ignoring that, and the bond market is embracing that we have a global slowdown under way. >> i got into an interesting twitter conversation, if you can even call them those, about why fedex is doing this. it feels like they threw the kitchen sink at this and my response was, this is the time that you do it. there's been commentary abounding about a global slowdown concerns there are companies left, right and center are starting to say, hey, it's going to take a toll here's the time that you manage expectations lower >> you are talking like you're in strategic coms. it may have been some of your own fault. if you cite these factors, it may be plausible >> if they're at pl

. >> wow thanks very much time for our etf spotlight d dominic chu taking a look.eporter: trying to find a key level in the s&p 500 it's tech and service-related stocks that are a big focus for some sectors. the com services sector, the best performing one in the s&p by far this month. stocks to watch today. they include facebook, lower on the wake of the "new york times" report saying that the social media giant is facing a criminal probe into its user data-sharing deals with other companies meanwhile, snapchat parents snap, inc., not an s&p 500 company stock but it's making a notable move to the upside helped along by analysts at btig who say it's a buy with a $15 price target among the sector etfs to watch beyond that ticker, the spdr com services, the ticker ftn and vanguard communications ticker vox and the smaller ishares global com services ticker ixp the near-term momentum for the sector has been benefitting from some of the etfs sara, again, it's the best performing sector so far in march. back over to you guys. >> thanks, dom when we come back, grounded.

i am dominic chu let's drill down on one of the outperforming groups, consumer staples.e part to conagra brands on case for the best day since june of 2015, after posting better than expected results for its frozen and meal products out there that bullish report lifting other consumer names, including campbell's soup, general mills, tyson foods, kellogg's keep an eye on those staple stocks i will send it back downtown to you, carl, at the exchange >> thank you. >>> a big show coming up in the next hour as we await levi another big show this afternoon. >> we have the ceo of pure leaf that signed a distribution deal with cvs, bringing cbd to cvs. big day for the nyse and speaking of retail, nike is reporting results after the bell you know i will be all over those numbers and instant reaction >> stock is a monster. >> don't go away hey mercedes, how about letting your hair down a little? how about a car for people who don't play golf? hey mercedes! mix it up a little. how about something for a guy who doesn't want a corner office? hey mercedes, i don't even own a tie. do y

i'm dominic chu.s of the day with every sector in the s&p in positive territory. let's drill down, though, on one of the relative underperformers. that's the utility group that group hitting a fresh record high, though, in today's trading. but as you can see, they're lagging the broader market among the names weighing that sector, you have centerpoint, ppl, and cms energy. all stocks to beat back downtown to you, carl >> shares of aurora surging this morning as the cannabis company announces it's pay pointing longtime activist investor nelson peltz has a strategic adviser. commenting on the appointment, peltz says, quote, i believe aurora has a solid execution track record, is strongly differentiated from its peers, as achieved integration throughout the value chain and is poised to go to the next level across a range of industry verticals. i also believe the canadian license producers and aurora in particular are well positioned to lead in the development of the international cannabis industry, as re

i'm dominic chu.ing to find a way to add to yesterday's gains, but we are at the lows of the session. right now, one of the best sector performers on a relative basis, the industrials, airline stocks helping to provide some of that leadership you've got shares of southwest, american, united, continental, and delta, some of the best performers in that sector. southwest was down earlier in the morning after cutting its forecast for a key revenue metric, but those losses have reversed, at least for now that's helping to boost the i-shares transportation etf to a gain of just, well, at this point here, not that much. but anyway, the fund is up around 15% since the lows on christmas eve. watch those transports now i will send it back downtown to you guys, david, at the stock exchange >> yeah, okay, as we watched after a first initial rally there, the s&p, of course, down about a third of a percent thank you, dom i always tend to think then about what the s&p will look like at the close. and then i think of

i'm dominic chu.tting highs of the session so far industrial stocks are among the worst performing groups following the second sharp day of losses. but energy stocks are one of the biggest leaders to the up side in early trading, whipped along by saudi arabia's plan to voluntarily cut supply later in april. among individual names, hess, apache, devon energy, all up by 2% or so and look at one of the most closely watched etfs, up nearly 14% this year. one to watch especially with the energy trade david, i will send it back downtown to you guys at the stock exchange >> thank you, dom. i will take it. >>> new york considering yet another tax on the wealthy, this time for those that own apartments that are not their primary residence. many of these people are not even u.s. citizens i would think. robert frank joins us with more. robert >> good morning. new york governor andrew cuomo announcing his support for the so-called tax. the tax on secondary homes in new york city would raise about $9 billion over

i am dominic chu the s&p was down 15 at the lows, off the worst levels of the day, slightly positive.outperformers, the industrial sector in the s&p, marginally higher on the day, fractionally at this point. you have nor folk southern and others boeing is up fractionally on the day, looking to snap a two day losing street with the broader markets. boeing stock is 19% below a record high of march 1t. keep an eye on boeing. i will send it back downtown to you, david, at the stock exchange >> thank you very much, dom chu. >>> now time to turn to sara who will be here the next hour of "squawk alley" but also of course for the most important two hours at the end of the day. what's coming up >> i missed your excitement around this question every day while you were out apple is going to unveil its streaming service. we'll bring instant reaction and analysis one last thing perhaps, goes to 3:00 p.m. eastern time or so and apple share price reaction, a little under pressure after a strong run up. >> coming off the lows of the session, down 72 cents it will be interesting to hear if there's any

i am dominic chu stocks are higher but losing a bit of steam as they have the ninth positive week outks, they're among the best performers today second best performing sector, hitting the highest level since mid december among names leading the group, milan, cigna, densefly and finally, look at one of the most closely watched etfs in biotech. this is the spider to particular out the best week since january. watch those as well. i will send it back downtown to you at the stock exchange. >> dom, thank you. dom chu. >>> let's get to the cme group in chicago with rick santelli and the santelli exchange. >> jim, we have to talk fast, we want to get this out there you noticed same thing i did, first day of capitol hill with jay powell, there wasn't much about monetary policy, it is about regulatory hat like mortgage issues, government wants to have more control over banks, in particular to maybe help fund policies didn't you think the questions were more in that regard >> yeah, they're coming right at the fed. >> the fed is the front door to the banks. >> they see them as a big pile of mone

. >> you grilled him on that last time >> i did >>> now for is a check on the premarket action, dominic chuk at the markets that are moving premarket. >> i would say this i'm a nachos bel grande myself. tesla down this morning. target priced by analysts at nor gan stanley. it's now 260 bucks it was priorly $283. they do say the stock may be fundamentally overvalued but strategically undervalued. the rating says equal weight shares of coca-cola are down by around a percent 15,000 shares premarket. downgraded at hsbc to a hold rating the target price also cut. impact thg i thinks like toe is a taxes and retailers as well. and we're going to end with boeing down another 2% on shares premarket. cutting the stock to a hold rating on the heels of last week's failed ethiopian air crash. they decided more balanced valuation at current levels given uncertainty because of that crash so those balance out to a more balanced rating. >> thank you so much >>> for more on the market action and on boeing in particular, let's bring in scott nations. nations chair cio and president and cnbc contributor what d

dominic chu joins us now more on what to watch. dom?ne up maybe as expected, given all the chatter about the lyft ipo and its oversubscription levels reportedly we'll see what happens here is your crib sheet so to speak. talk about the pricing range we know now $70 to $72 per share. at the $71 midpoint, about $2.2 billion raised in capital, over $20 billion in valuation, like you said, pricing tonight expected to trade tomorrow on the nasdaq lyft. if you look at some of the financials behind it, to reset things and give you an idea, gross bookings for lyft $8 billion last year, revenues of $2 billion one of the biggest losses for an ipo coming to market in the year it becomes public $911 million analysts, tom white at d.a. davidson making some waves slapping that $75 price target on the shares before they even go public. they think the market share gains and momentum are there, also a bigger growth picture for ride sharing but of course, at that $71 midpoint of pricing, assuming that happens, mike, we're talking only about 5% to 6% apwa

dominic chu joins us with a look at this morning's biggest stock movers we've talked about boeing, butest waiting there we've got another couple of analyst actions to talk about. first up is facebook it's down a percent in premarket. the social media giant was downgraded to a hold from a buy. cited valuation being close to their price target bank of america by the way also lowered its price target on shares to 187 bucks from $205. we're also watching shares of dollar general which are up a percent or so on 3,000 shares of premarket volume getting upgraded at barclays thiscited optimism over investments when it comes to generating store traffic and optimizing supply chain. then we'll end on a potential deal maybe happening shares of u.s.-listed lender deutsche bank around 5% on just around 190 shares premarket. that may not materialize into anything but deutsche chashares have lost some of their value in the last 12 months those shares a huge focus when it comes to the european banking trade. back over to you >> all right great. thanks, dom. joining us now on where investors might find