you heard right, jon fortt what we typically see actually around chinese ipos is they display this gongand, of course, yep, you see a lot of the chinese investors who are in the ipo and even the ceo himself. robin lee also in attendance, of course, given the large ownership in this ipo. >> trading flat. maybe they ought to hit it again. >> exactly >> seem yash seema, thank you >> let's bring in gsv capital's co-founder and partner joining us as well as sage works chairman and he could founder brian hamilton gentlemen, thank you for joining us >> good to see you it's a stable of high-tech unicorns here. we get ready for the direct listing of spotify next tuesday. what do you think about the company's decision to list in this very unusual way? >> it's interesting. it's an innovative approach. they've been preparing for that for quite some time. and, you know, one hand obviously they don't need to raise more capital they're doing well they're very popular consumer products >> will you be selling shares or buying shares or neither >> this will really depend, you know, we're -- we have a lar

"squawk alley" is live ♪ >>> i am carl quintanilla with jon fortt and courtney reagan.rning we'll get to the

i'm carl quintanilla with jon fortt and morgan brennan mike santoli joins us here at post nine as welle markets well off the highs a couple hundred points off the highs of the session trade is a big story facebook down almost 5%. >> the rubber band sna esnappedk we'll see if that is followedly volume we took back the last hour of losses last friday it seems like the weekend didn't have anything bad. kind of conciliatory talk on trade is helping the mood. just not clear if a lot of the bigger picture stuff is cleared away >> i believe facebook is about ten bucks a share away from losing all of the gains of the past 12 months microsoft is 5% or so away from the 552-week high >> the market is trying to sequester facebook and alphabet on privacy issues. i don't know about microsoft launching to a trillion dollar market cap in a hurry. that's a big call. but people still want to find ways to play the long-term themes that got the nasdaq to where it is now. >> you mentioned facebook and alphabet sequestered do you think that signals a breakdown in the fang trade that's been so popular >> it'

"squawk alley" is live ♪ >>> i am carl quintanilla with jon fortt and courtney reagan.usy morning we'll get to the markets in a moment first, live shots as students take turns walking out, answering a national call to leave class by the group empower. this is a call for elected officials to act on gun violence as well. seeing crowds outside the nyc today as well. keep our eye on that meanwhile, amidst white house shakeups, the president striking a harsher tone on china, signals of new trade tariffs and will this cause retaliatory measures from china or chinese investors. joining us, dean of the fletcher school of international relations, and former deputy assistant secretary at the treasury gentlemen, great to have you with us. thanks so much. >> you bet >> thanks for having me. >> admiral, the conversation now is about what direction the white house is pivoting in general. not so much clarity on where this all end what do you think the likelihood is of substantive retaliation from china in particular >> i would say it is pretty high, and as i look at the turn of the wh

i'm carl quintanilla and jon fortt and megan brennan. the dow lower after breaking the four day losing streak investors digesting the tariff plan, news that north korea could be interested in direct talks with the u.s. and potentially denuclearization for more on that, let's bring in private bank executive director and global investment specialist pat schaeffer and senior portfolio manager and senior vp jim lacamp moderate shopping here, jim. we try to digest the headlines that may lead to policy directions one or the other. how are you handling there >> well, i think policy is a big issue here for the markets, not only on the fiscal side, tariff side if you look at the central banks not only domestically here but around the world, you've got policy chief amongst concerns. now you've got the tariffs throwing in there. but, look, we don't think that that trumps the underlying story. inflation still very low interest rates still very low despite an expected maybe four rate hikes by the fed. share buybacks are accelerating and are running a

i'm jon fortt here at post nine with mike san thole and michelle caruso cabrera lots to get to this morningwe begin with the markets. real fears of a trade war have been rocking stocks. stocks have been down all morning. but joining us now, kanltor's chief market strategist peter chacini along with head of investment strategy joe davis. good morning to both of you. >> good morning. >> good morning. >> peter, you're looking at this and say on the one hand stock volatility is at bay because volatility in the ten year is also at bay. but on the other hand, tariffs are causing a wrinkle in all of this it's a push-pull which way do you expect us to be pulled most immediate sfli. >> there's an interesting push and pull between monetary and policy issues. we're looking at short rate vol which has been a key to us all year for equity vol. and now we have this new concern which is a trade war you know, implementation of tariffs is a little bit like dumping sand into the gears of commerce if you will so i think it's laa legitimate concern. then we have a much larger deficit which in turn impacts the

i'm jon fortt.morning starting off with facebook taking a big hit the social network under fire once again this time after a political consulting firm harvested data from tens of millions of users without their permission let's get to our own reporter in los angeles with that. julia? >> facebook shares are down more than 6% as o lay makers in the u.s. and uk call on mark zuckerberg to testify. many of them calling for regulations. this as the european union announces an investigation into privacy laws in question, is the facebook data from 50 million people harvested because they were friends with 270,000 people who downloaded a personality quiz app. the time facebook's privacy policies gave app developers access to that data which the developer then illegally sold to data firm cambridge anylitca they told them they deleted that data in 2015 but the reports this weekend saying that data on the 50 million people is still out there. facebook is saying we're in the process of conducting a comprehensive

i'm carl quintanilla with jon fortt and morgan brennan president trump expected to make announcementm and steel this afternoon. but there are a lot of moving parts. reports say aides frnt aren't sure what is going to happen >> they're hoping they have a bit more detail to work with and just about an hour's time, midday, a few hours before the president now expects to have a meeting with steel and aluminum workers which i'm told will be rank and file workers. that's the expectations versus the ceos that he is normally photographed with before these types of announcements white house officials are feeling quite a bit of deja vu after last week when repeatedly they told the president there was no position paper or legal framework from which to make a formal announcement. but the president decided in that venue to do it anyway this time around, just a week later, the president could do just about anything at this afternoon's cabinet meeting or the steel and aluminum meeting that is happening later this afternoon. interestingly, one of the hang-ups is a potential exemption for canada and

i'm jon fortt here at post nine with kelly evans and deiedra bosa facebook softening through there morning'smike santoli here with us to put that in perspective. the dow off 1.5% >> and facebook a part of that whole market selloff nasdaq leading us down this market right now doesn't have a real good answer when both big tech and the bank stocks are down. the two biggest sectors out there and i think it's partly a take away from the fed yesterday. it's partly getting caught up in okay, did we get a little too overexcited about the future of t faang type stocks? it's almost as if you could have taken the same exact press briefing, the same exact statement and turned it bullish. it was kind of a goldilocks story. >> we were saying that yesterday. >> exactly >> it was a war shot test and all that it's interesting bank of america is down 3% >> and the bond market is reacting with lower yields that is taking some of the air out of the banks, as you know. i do think it's kind of a question of we are in the world we thought we were in before the fed meeting. but that still leaves us in a little bit

all right, let's send it over to jon fortt and look at what is coming up. >> with tariffs on the horizons a new global picture for american bndras. ed republican ed renzy is going to join us coming up. you know what's awesome? gig-speed internet. you know what's not awesome? when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids, and these guys, him, ah. oh hello. that lady, these houses! yes, yes and yes. and don't forget about them. uh huh, sure. still yes! xfinity delivers gig speed to more homes than anyone. now you can get it, too. welcome to the party. >>> much more ead ahon tariffs and trade. "squawk alley" is up next so don't go away. >>> good morning it is 8:00 a.m. at qualcomm headquarters in san diego. 11:00 a.m. here on wall street and "squawk alley" is live ♪

. >> rick, thank you very much let's send it over to jon fortt on the floor with a look at what's cominguawk alley. >> fcc commissioner brendan carr will join us it's a year after this controversial rollback of rules where they said the privacy rules that isps carry ought to dithci same as those of soal mea e ftc now looking into facebook we'll see where this commissioner stands. that's coming up on "squawk alley. >>> one of america's oldest gunmakers, remington, filing for bankruptcy scott cohn joins us on the phone this morning with more >> this bankruptcy filing which we first reported last night coming on the heels of those marches around the world this weekend against gun violence but remington is not going bankrupt because of public backlash against guns. on the contrary. like the rest of the industry, remington cranked down inventory in 2016 and people bought lots of guns in anticipation of hillary clinton being elected president. when donald trump won, customer sauce less urgency to buy guns and sales plummeted. remi ington remington's parent saw sales plunge more than 30% last y

david, back to you >> thank you now time to send it to jon fortt and get a look at what's coming up on driverless car technology very much in the news. not uber we're going to have wamo itat is google's self drive car un the ceo is going to join us on "squawk alley. you know what's awesome? gig-speed internet. you know what's not awesome? when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids, and these guys, him, ah. oh hello. that lady, these houses! yes, yes and yes. and don't forget about them. uh huh, sure. still yes! xfinity delivers gig speed to more homes than anyone. now you can get it, too. welcome to the party. >>> welcome back to "squawk on the street." markets are high oern wall street one of the sectors not participating in the broader rally is health care shares of that sector off fractionally in early trading. the worst performing group in the s&p 500. there are some names in the space all down more than 1% so far today. now back downtown to you guys. carl, back to you. >> all right thank you very much. >>> apple making a mo

i love that line let's send it over to jon fortt. >> fortnight is the hottest video game in the world hot it's driving subscriptions to amazon's twitch and we've got the hottest player, ninja. he's going to join us on "squawk alley" coming up >>> welcome back tech stocks powering a selloff on wall street the stocks are lower by 1.5% in early trading. check out newfield, kinder morgan, the big laggers off by 2% so far today. certainly a sector to watch. back to you. >> yes, it is. absolutely when we come back, thank you, facebook is under pressure the latest scandal finally force tech ceos to testify on information warfare? we're going to discuss with an early investor definitely want to tune in market at session lows dow down 260 points, decline of 1% don't move "squawk alley" is next let's get started. show of hands. who wants customizable options chains? ones that make it fast and easy to analyze and take action? how about some of the lowest options fees? are you raising your hand? good then it's time for power e*trade the platform, price and service that gives you the edge you need

i'm carl quintanilla with jon fortt and morgan brennan president trump expected to make announcementthis afternoon. but there are a lot of moving parts. reports say aides frnt