but the big one is what this means for prime minister modi.tions, but not yet known, prime minister modi will be hoping that a good showing will make prime minister modi stronger. a week result would in a sense raise questions about the election and set the tone for national elections in 2019. rishaad: thank you so much for that. i had on bloomberg markets, an update on the big stories of the day so far. shery ahn, what have you got cooking? fory: i'm still waiting china's trade figures. they are supposed to improve. exports expected to have gained 3.2%, the first time they have turned positive since march last year. as well, we had a weaker yuan helping those exports. trade surplus expected to have widened as well. we will also be looking at prime minister shinzo abe shinzo abe touching down in the u.s., expected to hold a meeting with president donald in the white house. saying yen they're manipulation will not be a priority in the talks, but we are seeing considerable yen weakness trading around 113. also the trump travel ban has been rejec

seema mody's got all the details. hey, seema. >> a lot of politics, carl.e economic story continues to improve, this time on the inflation front. the eurozone just posted its first month of rising inflation across all its member states. italy sees its biggest rise in inflation since 2013. so, say bye-bye to deflation, for now. also in focus, german sentiment in business is climbing. the german stock market hitting a new two-year high and back above 12,000. in stocks, unilever on the rise after rejecting a takeover offer from kraft heinz, the consumer giant now announcing that it's conducting a review of options aimed at boosting shareholder value. investors had been urging unilever to assess its costs and structure. shares up over 5%. in the uk, lloyds posting its best full-year profit in a decade, thanks to lower provisions. it also unveiled a special dividend payout. now eyes on whether the uk government will prioritize its efforts to offload its remaining stake in the bank as the company's financial outperformance continues. alcor saw strong operating de

so, what bets will narendra modi put in place to put the momentum back into india's the economy?ncome tax could well be cut, which would put more money in the hands of customers who in turn will spend more money. but there is a risk it could incur inflation. investing in roads, railways and infrastructure, especially in rural areas, would createjobs. it is another way to put money into the economy. and while the inflation risk remains, these policies wouldn't hurt the government's popularity. getting foreign investment into india is another way the economy can keep growing strongly. but it is still ranked as one of the hardest places in the world to do business. and despite measures to reduce regulation, the situation hasn't improved much. the easier it becomes to trade and in, the more money it will attract, so watch out for the details the budget to help it happened. india's government might have to keep some cards close to its chest, at least for now. after the pain of a cash crunch, it needs some of its big bets to pay the returns. and, for the latest on the budget, we are jo

also professor neena modi is from the royal college of paediatrics and child health, she joins us from question from william in glasgow. one idea might be to open private insurance schemes for all workers as an extra that would see all employers pay a small amount of their monthly salary to a private insurance company so that if they needed hospital care the nhs would claim against that insurance company. i suppose in a sense that is talking about the partial privatisation really of the national health service. what would be your reaction to that? let's hear from both of you on that. anita first of all. so, the issue i guess with private insurance, particularly if it is compulsory for people of working age, is firstly that people of working age aren't big users of the nhs, it is as your introduction showed, when we get old and have complex conditions that we are high users of the service. the other thing is that it adds to the cost of employing people and essentially if it is compulsory it is a form of tax. so we can change how we pay for it, but the fundamental point remains that if w

narendra modi wants the us to have a balanced and long—term view on issue of skilled workers.ndia, as well as the microsoft boss, who has met the information technology minister. he says the us should recognise the contribution indian companies make to its technology industry. they are creating value, they are creating employment. they are creating potential. a large number of american —— there potential trade war between is a potential trade war between china and the a is a potential trade war between china and the- a drop in china and the us and a drop in tourism is hitting the economy. we will find out how bad the impact this when hong kong unveils its growth begins later today. a sharp slowdown last year is expected and the forecast this year isn‘t much better. what can hong kong do about it? when we at 1:1 % previous of retail the previous years of retail sales in kong it the previous years of retail sales in - kong it was very much driven the previous years of retail sales in - kon tourists. ery much driven the previous years of retail sales in - kon tourists. and 1uch d

i'm wilfred frost, along with seema mody. in for sara today. good morning. >> good morning. >> let's check in on the global market action. we did see record intraday highs, so the dow and nasdaq yesterday, a record close for the nasdaq, not for the dow. but the daily moves higher were only slight. 0.2% of gains for those two indices. the s&p gains, but even less than that. this morning we are expecting slight gains once again. the dow called higher by 33 points. s&p by 2. nasdaq by 4. yesterday consumer staples and tech outperformed energy, as oil prices fell 1.5%. let's look at oil prices again this morning. the api reporting a large increase in weekly crude stockpiles than expected the. up by 14.2 million barrels last week. official data from the u.s. energy department later this morning. oil prices looking at their fourth day of declines out of five. third day of pronounced declines. 1.5% for monday and tuesday in terms of price declines. likely to keep remember sure on the energy sector. >> the bank of japan releasing the minutes from its j

positives that the oecd picks out is the "comprehensive tax reform" that prime minister narendra modi'st is putting into place. we have spoken about this at length, the detail and the chaos caused by that move in november. today we will find out the impact on the economy? that's right. it is the first real data that will be coming out and that will give some to how that experimental exercise in pak are the indian economy. —— impacted the indian economy. —— impacted the indian economy. —— impacted the indian economy. the government put the ban in place in the first week of november. after that, businesses took a hit. consumer spending was hit. demand went down. that is why most economists have been really struggling to gauge how much it has really hurt the economy. this data is going to be very, very important in that sense. the bbc‘s economics editor spoke to india's finance minister and asked him why the government had to take the step, and how it had impacted the economy. (inaudible). 0k, clearly we cannot hear that interview, which is a shame. maybe we will get that soundbite later o

back to seema mody with the details. >> a muted session in europe as the economic data continues to roll through. be first had the pmi numbers, surprising to the up side. today gdp data also upbeat with germany stealing the spotlight growing by 1.7% versus a year ago, but a muted session, negative territory for the major indexes the big talker still french politics, yesterday showing his support for manuel le chron, hoping he will beat marine le pen in the first round. in terms of earnings, barclays in focus, the latest european bank to report earnings missing shares lower by 2.6%, and in focus the miners boasting an annual increase. which also reported upbeat results thanks to this resurgence we have seen in mott yesterday prices. it's important to know cop up up 30%, and iron ore also up a similar amount in 2017. >> seema mody, thank you very much. live pictures on your screen as the dow is hanging on to a 20-point gain, s&p down by about three points. back in a minute. here's been a . we need your password so we can lock down the system. my password? yes, sir, we need your password. t

. >>> let's send it over to sema mody for a quick market flash. >> we are keeping a close eye on theow trans ports which are now down about 1% on the day on pace for its worst day this month. shares of avis budget weighing on the index down double digits. the car rental company reporting a fourth quarter profits due to higher expenses. the stock on pace for its worst day in about a year. mike and kelly, back to you. >> all right. seema, thank you very much. >>> we have about a half hour to go before the bell. dow is -- has it just poked above? just down .002. we a -- .02. >> tax reform a hot topic. >> the tax would be easier, in my opinion, but for statutory reasons and for budgetary reasons we have to submit the health care sooner so we'll be submitting health care in early march, mid march and after that we're going to come up. we're doing very well on tax reform. >> up next, former dallas fed economist tells us how she thinks the president's tax plan will impact the economy and jobs. >>> trump introducing his new pick for labor secretary. the former ceo of mcdonald's weighs in on

i'm wilfred frost along with seema mody.od morning. >> let's get straight to the global market action. u.s. futures now higher here in premarket trade, which would mean a new high for the s&p 500 calling for a higher open by 5 points. the dow jones up 44 points. nasdaq in premarket up about 14 points. keep in mind the dow did see its best weekly performance of 2017 last week, the nasdaq and s&p both saw their fourth straight positive week if a row. a lot of that having to do with trump's policies. >> just more broadly reflation trade, we saw some hawkish comments from various fed members that increased rate hike expectations, that pushed yields higher for the week and allowed banks to rally hard leading the charge last week and saw the bond proxies underperform. >> a subdued mood across global markets if you look at europe. last week the european stoxx 600 hit the highest level since december of 2015. here a bit of a mixed trade. the ftse 100 lower by about 0.2%. we're seeing germany, france and italy slightly higher on the

i'm wilfred frost along with seema mody. sorry we didn't have an emoji ready for you. >> i'm sure we'll get one. >> they're not bad. >> they look quite nice. very good looking you might say? there we go not bad. checking in on the global markets a look at what futures are doing at this hour. pretty much flat coming off the back of another set of record highs for all of the indices yesterday. about 0.5 or 0.6% of gains for the markets. the worst performing sector, materials, up 0.4%. real estate was the best performer a slight change from last week where we did see a yield-driven, banks driven rally carrying the markets higher. yesterday was broad optimism. the dow and the nasdaq slightly lower. s&p slightly higher. asian trade at this hour is -- was positive. it's closed now. japan ending flat. hong kong and shanghai higher. we got some chinese house price data, rising 12.2% year on year, month on month just 0.2%. decelerating pasz of that since september. but on a tear year on year basis. we are on track for another day of

cnbc's seema modi gives us a preview. >> we'll find out how wall street feels about snap chat. the stock expected to price on wednesday and begin trading on thursday. following a mixed bag of earnings for retailers in resented weeks, the latest numbers from target on tuesday. analysts think stores open at least a year, see a sales drop 1.4% from a year ago. economic reports on the housing market are ahead. a measure of home contracts signed but not yet closed and the case-shiller report on home prices is out on tuesday. will auto sales continue the recent momentum. we'll find out on wednesday. edmunds.com predicts a 1% decline. >>> wolverine returns to the screen next weekend as "logan" is released. hugh jackman is back. i'm seema modi, get all your business news on cnbc. >> now your nbc 10 first alert weather. >>> let's begin with another look at sunrise in cape may, new jersey. you can see the areas lit, looking very nice at the shore. it's also cooler than just yesterday morning at this exact same time because of that cold front to move through and cause all that damage as w

i'm wilfred frost along with seema mody in for sara today.ing. >> good morning. >> yesterday record highs, once again all of the manger u.s. indices, five straight days of gains for the s&p and nasdaq. 10 out of 11 s&p sectors were l higher, led by financials. the s&p is just below fair value in the futures. expected to open down by a half point. similar picture in europe. we had five straight days of gains for the stoxx 600, the broad market index across europe. yet today we're seeing that run out of steam a bit. germany just in the red with france, the uk and italy just in the green. asian trade for you was for the most part negative. the only meaningful negative was japan, which is weighed down heavily by toshiba shares by 8%. the nikkei down 1.1%. as you can see, hong kong and shanghai flat. >>> as we look at broader markets, it's interesting to watch the price action in oil. the resilience in oil and the impact that has had on investor sentiment and stocks as well. today, slightly higher at $53.37. reversing a downward loss. we were look

seema mody here on the floor. >>> let's get back to the white house this morning.a busy morning, the president meeting with key airline executives, talking about regulation, competition, infrastructure. eamon javers standing by with the latest there. hey, eamon. >> reporter: yeah, hi, carl. the president was in a chatty move this morning when the wranglers tried to pull the press out of his meeting. he insisted he wanted the press to stay and film the rest of the session, so one of the moments we saw was this conversation from the president talking about the air traffic control system and just sort of mocking it for being inefficient. here's what he had to say. >> we're spending billions and billions of dollars. it's a system that's totally, you know, out of whack. it's way over budget, it's way behind schedule, and when it's complete, it's not going to be a good system. other than that, it's fantastic. [ laughter ] >> reporter: other than that, it's fantastic, the president said. he also said he thinks that the head of the faa should be a pilot, carl. so, that mig

i'm seema modi. looking at shares mobileye spiking. a new pack on autonomous driving. similar to what waze does for crowd sourcing to power the data. the two companies are planning to introduce this in 2018. looking at shares of mobile eye up 7%. back to you. >> seema modi with the latest there, thank you so much. >>> back with mick mcguire. want to ask you about deckers. you filed last week with a 6% stake. you want to engage in discussions with the board. i'm curious as to what exactly do you want from deckers? >> deckers is a company that fits our investment model very, very well. it's a business with a great brand, generates a lot of cash flow and trades at one of the lowest valuations in its history. but they've made some very critical missteps around capital allocation and really a lack of discipline around costs and returns on capital. in an era where you and your team were mentioning this at the top, physical retail is under a lot of pressure. there's some real open questions about, you know, what the world of physical retail will look like in the future where

prime minister narendra modi that the marsred mission was way cheaper than in delhi.uk-tuk the spaceram is huge. earlier this year, the mars was put on the new currency notes, which were just rolled out a few months back. the successful launch of these 104 satellites have put india in a dominant position as far as sending satellites up into space. there are private companies particularly developing satellites hungering to send these up into space, but they cannot do these independently. way ofssion is india's telling the world, here is the cheapest way to do it. genie: that report from delhi. time for your business update with brian quinn. you are going to start off more with this landmark trade deal. has been approved by the european parliament. the trade deal took seven years to negotiate. provisional implementation could begin as early as march. the national parliament will need to ratify the deal before it can take effect. it has taken seven years of negotiations and faced vehement opposition. the comprehensive economic and trade agreement, or ceta, promises to bring canada close

prime minister narendra modi suddenly canceled two large denomination bills last november effective one day later. he said the measure was necessary to fight corruption. still, it triggered a cash crunch and widespread confusion. that's the latest in business for this hour. here's another check on markets. >>> israel's prime minister will visit washington next week. >> president trump lehaim. >> congratulations, mr. trump. >> this was posted to facebook. it's from the mayor of jerusalem. he's hoping that donald trump will follow through on the controversial promise to move the u.s. embassy in israel from tel aviv to jerusalem. >> translator: let's welcome the ambassador together in jerusalem. >> reporter: jerusalem's old city is a holy site for jews, christians and muslims. its status continues to be disputed. the wailing wall is a holy site for jewish believers. nearby is the dome of the rock. israel annexed east jerusalem after its occupation during the 1967 arab/israeli war. in 1993, israel signed an accord with the palestinians. both sides agreed to start a negotiation on the basis

prime minister modi says it focuses on economic growth and job creation. the indian economy is dealing with lower consumer spending. economists blame what happened last november when officials abruptly abolished two high-value bank notes but delayed issuing replacement notes. >>> sales in many vehicles in japan have been on the decline after two years and officials at suzuki think their new line-up featuring enhanced safety systems will win over new customers. the officials have rolled out the suzuki models in tokyo. they have an improved auto braking system. these enable the system to predict pedestrians ahead. it's an industry first. the cars also have a mechanism to prevent drivers from stepping on the gas pedal instead of the brake. the officials say the latest hybrid power system improves mileage. the company president says demand is growing for many vehicles with safety vehicles as many of their drivers are elderly. >>> a nobel prize winning economist is back in the spotlight. christ sister simms is challenging a widely accepted claim. simms says if

seema mody. >>> president trump meeting with canadian prime minister justin trudeau right now at thete house. this is the first time both leaders are meeting face-to-face. we just saw that photo op just moments ago, since trump's victory last november. likely on the agenda, economy, security and trade. joining us, former u.s. trade representative ron kirk, who among other things, helped traft the trans-pacific trade partnership, which president trump has since withdrawn, kept his campaign promise there. welcome, mr. ambassador. nice to see you. >> good morning. always good to be with you. >> so, the very popular torontostar.com leads with "trump's handshake with trudeau did not last 19 seconds." beyond the body language here, they're going to have a bilateral meeting. they're going to be meeting with some female executives, and then prime minister trudeau will be meeting with the majority leaders in congress, house speaker paul ryan and mitch mcconnell. what will you be looking for to come out of today? >> well, one, i think we have a little bit of a comfort level here in that presid

." >>> we now move on to world weather here on nhk "newsline" with s sika modi who starts off with texas. >> sevevere weather impacted th united states. a cold front moved through the area and caused record-breaking rainfall in california during the weekend. let's go straight at some video coming out of southern texas. severe weaeather blew through s antonio monday, resulting in widespread damage. san antotonio is the state's secocond largest city. about 100 homes were damaged, as shown in this area footage taken shortly after the storm. at least five people were injured, yet none of them weree reported to be serious. about 40,000 customers lost power in the city, so extremely severe damage occurred in texas. the severe weather maker i is n pushing towards the east and sprereading rainfall across the eastern united stat. and theres a potential for severe thundnderstorms once aga in the deep south on your tuesday. and up towards the north, snow is expected to fall in eastern portions of canada. and the opposite side of the continent, another low-end frot isis making its way towards the ea

. >>> let's get to earnings with seema mody. >> the go pro supplier seen as drone play with links toing expectations. analysts were calling for 74 cents. the guidance, that is very key here. very weak guidance for the first quarter. a lot of analysts have been talking about larger chip companies like quaalcomm getting a bigger piece of the pie. competition has been something wall street has been voicing as a concern. shares down just about 4% in extended trade. i would point out over the past 12 months the stock is up about 27%. so rebound despite the downward pressure that go pro has been under. let's take a look at weight watchers cht earnings are out and it is a beat on bottom line 20 cents, a two kent beat. revenue was a miss. it did say it ended 2016 with ten percent more subscribers than the prior year and said that so far in 2017 our global marketing campaigns are driving stronger member recruitment and interest in beyond the scale program which is what oprah has been advertising. back to you. >> on top of the move. nutrisystem said it was a strong start. weight watchers up 21

. —— narendra modi. world business report. now, it is date two of the big smartphone events taking place at the moment, the mobile world congress in barcelona. yesterday we told you about nokia, its latest attem pts told you about nokia, its latest atte m pts to told you about nokia, its latest attempts to revive its struggling mobile brand by introducing, again, the 3310. a host of new phones, as well, including the revamped version of that iconic handsets that we knew so of that iconic handsets that we knew so well. today we are taking a look at the future of wireless technology. rory cellan—jones is there for us, and has been finding out about the potential of 5g connectivity. so stay tuned to get the latest from him, and all the other business stories, in about 20 minutes. thank you, sally. at the end of last week, the greek prime minister said his country's era of austerity is over, but today, greece's creditors will meet his government to discuss the implementation of reforms needed to unlock billi

million, the vote is being seen as a referendum on the government of the prime minister, narendra modiver several weeks, with results released in march. british police are investigating how 360 kilos of cocaine were washed up on beaches in eastern england. the estimated street value of the drugs is more than $60 million. police said a member of the public had contacted officers in norfolk on thursday after seeing bags on a beach near the town of great yarmouth. police in brazil have reached a deal to end a week—long strike that has led to a wave of violence in the espirito santo region. officers had been demanding higher pay and their absence from the streets led to an increase in assaults, robberies and shootings. greg dawson reports. this has become a familiar scene in brazil's espirito santo region: a community in silence as another body is carried away. translation: i want to move away from here, because i do not like this place. it is very difficult. every day there are killings, shootings, every day i am scared. more than 100 people have died in the violence is the police strike

million, the vote is being seen as a referendum on the government of the prime minister, narendra moditaggered over several weeks, with results released in march. a reward of $30,000 is being offered by peruvian authorities for information leading to the capture of the former president, alehandro toledo, who faces corruption allegations. mr toledo is one of three former presidents being investigated for allegedly taking millions of dollars in bribes from a brazilian company. mr toledo denies the accusations. a controversial investigation costing millions of pounds into claims that british troops abused iraqi civilians, is to be shut down within months. it's after a scathing report by mps described the iraq historic allegations team as an unmitigated failure. they said soldiers under investigation had suffered u na cce pta ble stress. our diplomatic correspondent caroline hawley has the story. it's almost 14 years since british troops invaded iraq and the legacy of the war is still causing controversy. in the aftermath of the occupation, thousands of allegations of abuse were made again

britain in a post—brexit future dealing with trump's america, or with xi jinping's china, or with modi'sr nation's interest, where do you think you leverage is and how much has britain got? stephen, here he goes again, classic bbc, doing down britain. laughter. i am simply asking the question. sixth biggest military in the world, the common language of business, the birthplace of shakespeare, newton, we've got huge things going for us. the network of commonwealth links we've got. and you are right that we have to go into these negotiations whether with china, brazil, america, doing what normal countries do, to look after the british national interest but often it will be looking for a win—win. sorry, but i asked how much leverage britain has and your answer included shakespeare. i mean, is it... you're asking about britain as a nation and i wanted to show why we're not down on our luck as you imply, and we have huge economic power, military hard power and soft power, and that's why shakespeare and language and culture and values comes into it. at the end of the day, you're right, we're t

be coming, and the state elections, that could generally be a big boost to prime minister narendra modiwould imagine, a lot of reaction to the budget. of india's leading housing finance company says the government's right to help the rural poor. 68 percent of our population live in rural india, and we need to have rural development. , thehave committed it finance minister, has committed that people living under the poverty line will come out of it. allocation for rural housing has increased. multiplier effect, impacting a number of industries, particular steel, cement. rishaad: the chairman of the welcomeonglomerate also the budget, which he said would do a lot for india's growth prospects. >> the finance minister presented a reform in growth oriented budget this morning. there were many good proposals in this budget. it will add a lot to the gdp .rowth of the country thing wasgest sticking to the fiscal consolidation roadmap, which is a big issue for many global investor clients. a lot of clients have been investing in india over the last three years, not just because of the growth sto

seema mody is tracking that for us. seema?exit-like event in 2017 for now and focused more on the improving economic data in europe. in fact, today, eurozone surging to the highest level in six years. earnings continuing to improve as well. check out the miners which were on fire. is similar story of the share price that has tripled in the past 12 months with copper prices at nearly $6,000 a ton and iron up 4% over the last year. latin american markets are feeling the love. in i can it, brazil. stocks there at a six-year high. all of this happening the emerging markets now performing up 11% so far this year. brian? >> wow. big runs there. seema mody, thank you very much. >>> meantime, speaking of copper, shares of freeport mcmoran sliding. deutsch bank things it's over. joining me is craig johnson, technician with piper jaffray. chad, i'll start with you. it had one of the biggest surprise runs of the year last year. maybe we need an award for that type of thing. do you agree with deutsch bank that now is the time to sell it?

seema mody brings us numbers from kraftheinz. see you shortly. >>> joining me on the panel, michael santolli. charles schwab senior vp liz saunders. and daniel hughes joins us to kick things off. welcome, everybody. mike, it's unbelievable. what's interesting about this rally, it's so quiet. up 100 points every day, everybody walking around. >> it ratchets higher, the strength has built throughout the day. seven straight up days for the s&p and nasdaq. the highs for the s&p today basically got to a 10% gain since election day. that's the first time you have hit that 10% gain. it's started to run pretty hot. i don't think anybody would deny that in terms of how stretched it's gotten in the short term. one way to think about that is the market is having to grind higher to find sellers. there are not any below because there are all these different reasons people are leaning on right now. once again, not a broad rally today, not great breadth but enough for the index. health care leading the market. that doesn't conform to anyone's n

there she is, seema mody. >> shares of restoration hardware, now ticker symbol rh rallying today.h-end home furnishings retailer forecasting higher than expected quarterly results. and an analyst says the fourth quarter forecast should quell any feels that investors still had. rh says its board authorized up to $300 million in stock buy backs. stock down still nearly 40% over the past four months but a big run in today's trade. melissa? >> seema mody, thank you. >>> analyst recommendations on the stocks we need to know about. intuit. goes to 140 from 109. better than expected earnings and credit suisse will strengthen the small business segment, given the concentration of revenue in the u.s. into its valuation looks very attractive, particularly if tax reform is passed before the end of 2017. >>> core logic, suntrust upgrading the stock and raising the price. more bullish view reflects confidence and pricing actions they've taken in the market. market share gains against its competitor vsg should drive revenue growth and margin expansion over the next three years. their target goe

seema mody has details. >> api data showing a build of 14.2 million barrels in the last week.hat the street was expecting. in fact, by around five times more. that is why we are seeing oil prices move lower in the extended session by around 2.5% or down about 1.3 bucks. kelly, back to you. >> all right. we'll see how that shakes through these markets tomorrow. >>> earlier i spoke with royal dutch shell ceo and i asked him along with other topics that we discussed about the company's relationship with iran and about possible investments there. take a listen. >> they left some products and we sell some products into the company which is a transient transactional type of relationship and, of course, if there would be opportunity to invest and if the political climate as well as the legal climate would allow us to do so, then of course if behooves us as business people to look at it. clearly we are going to comply with all legislation that is applicable. >> i see here you had signed an agreement at the end of last year to develop oil and gas fields in iran. is that what you're ref

i'm wilfred frost along with seema mody in for sara today.

our seema mody's at hq with some answers. >> hi, carl.t's right, the tax holiday could see billions of foreign earnings coming home, and the hope is for multinationals to use the repatriated cash to grow their businesses, but history has shown that during the last tax holiday, companies spent most of it on buybacks. s&p 500 companies have about $1 trillion in cash held overseas, and goldman sachs is expecting $200 billion of that to be repatriated this year. now, about 75% of that cash to be used towards buybacks and dividends. that would boost the total buybacks to $800 billion in 2017, up 24% from last year, which, of course, has been a big source of demand for stocks since 2010. which sectors could benefit? think technology and health care, which in total account for 51% of the total of cash held in foreign countries. over the past three years, apple, microsoft, cisco, oracle and intel have been allocating a lot of capital towards buybacks and dividends, but they've been funding their payouts with debt. apple's debtload has been growin

i'm seema mody. gold surging ahead of today's fed announcement. what else do you think, jim, is driving gold lower? >> this secondarily. yesterday, we were worried about -- there wasn't a panic, but a little bit of concern about the president's implementation of policies after last night's fairly mainstream candidate, i think the fwoeld market is a little more confidence today. again, that's secondarily. more importantly, the dollars bounce. maybe it doesn't tighten but talks hard about tightening. >> anthony, we're hovering just above the 1200 mark today. would you be a buyer or seller of gold at these levels? >> i would be a seller. the fed doesn't seem -- unless they risk the wrath of trump on twitter. they act down the road. that's what we're seeing right now. gold is higher when the fed decision day is coming. it's lower right now. traders know rates are going higher, dollar is going higher. gold is going lower. >> anthony and jim for more on futures check out the live show every tuesday and thursday at 1:00 pm on futures now.cnbc.com. scott,

seema mody is at hq as well. >> the conversation continues around the upcoming french election.ligence today put out a note saying there's a 20% chance populist leader marine le pen wins the presidency. a mix of red and green here after the close, but it is the political risk in europe that continues to push investors into german bonds and yields creeping up in italy and france. so, that divergence in the bond market is a story that continues into wednesday as well. meantime, a lot of stocks are on the move, particularly in the auto sector. europe's carmaker association today forecasting that eu car sales will only increase by around 1% this year. that's a sharp slowdown from what we saw last year when we saw growth of around 6%. the association citing uncertainty around macroeconomic conditions and political developments. auto stocks are down in today's trade. cardinalsbe carlsberg declining. and if we look at shares, a sizable quarterly net loss. it had its dividend. this is the danish shipping giant. they are in the process of breaking its business, one into shipping and the

seema mody's at post 9. >> we have a mixed session in europe, some gains across spain and the uk butot of attention being put on the pound. the pound decline accelerating after the bank of england left rates unchanged in its most recent policy meeting but raised its short-term growth forecast. it also said it's willing to tolerate running its inflation target above the target over the coming months. those comments a bit concerning. governor mark carney also made some interesting comments about how we are coming to the last seconds of the central banker's 15 minutes of fame, perhaps highlighting the rebound we're seeing in growth and inflation and shift towards fiscal policy, which of course is being well telegraphed in the bond market as well with yields on the rise, not just in the uk but across europe. now, speaking of the uk, an update on uk politics. british government publishing its white paper on the brexit after parliament provided overwhelming support for the bill that enables the government to trigger article 50. that basically emboldens theresa may's position to push forwar

did not bringm de-monetization in the way that prime minister modi did, putting questions over the indiane in place and fall. this is why 34 by 39 economists to the klein by .25%. .25%. decline inflation is opening the door to rate cuts. 5834 if you want to follow at home. also, the budget, they are on a great budget path in india. they plan to cut their deficit to 3.2 percent of gdp in 2017, and cut into 3% in 2018 and 2019, helping bond prices rally, boosting demand. bloomberg intelligence points out that when india has enacted fiscal discipline, it has encouraged to the rbi to cut rates. rishaad: we had the rupee declined over the last month, a slight spike, appreciating i should say in the last month or thereabouts, but a slight move to the downside in the session in recent days, is this move being priced in? perhaps the lack of a cut being priced in even? >> you wonder, don't you? there is strength in the rupee for all kinds of reasons, but then suddenly drops for the first time in 10 days, perhaps a delayed response. you can see this chart of the dollar-rupee rate, the dollar then t

. >>> seema mody has the details. >> doug mcmillan saying the gathering offered an important opportunity to discuss the economy and job creation. the dialogue was constructive and candid ranging widely. he says, i look forward to continued discussions with the administration consistent with our long standing belief that it's all the better to be engaged in trying to shape solutions than sitting on the sidelines. quite positive, guys. back over to you. >> very good, seema. they didn't want to talk to eamon. >> very substantive statement. >> thank you very much. >>> president trump has said that he wants apple to make iphones here in the u.s., but now the company's reportedly on the verge of moving some iphone production but not to america. josh lipton has details for us. josh? >> that's right, bill. so these reports say that apple will soon have made in india iphones available that apple has now finalized an assembling location in that country. for its part apple is not confirming these reports, only referring us to a prior statement saying we appreciate the con strungttive and open dialo

seema mody knows. us now. >> brian, companies on the s&p 500 have nearly $1 trillion currently parked overseas. as you point out that's a lot of capital that could be deployed at home toward research and development, mergers, acquisitions and expansion and help companies pay down their debt that they've been racking out to buy back their own stock. without any restrictions on how to use the repatriated cash, goldman sachs expects about one-fifth of the $1 trillion to be repatriated back into the u.s. and $150 billion of that to be used towards buy backs and dividends, could be a boone for markets as that has been a big source of demand for stocks since 2010. if that were to happen total amount spent on buy backs could reach $800 billion, 24% rise from a year ago. the sector is likely to benefit from this tax holiday. health care which accounts for 5 % of all that cash held in foreign countries in terms of time line, the actual bill around this tax holiday not expected to be passed until late summer, im

seema mody has that part of the story. seema? >> we've been reading through all the transcripts and perhaps it's no surprise that president trump's policies have gotten a lot of attention this season. he has been discussed about 56 -- on 56 different earnings calls so far. the big takeaway, cautious optimism on corporate tax reform, at&t cfo saying it makes sense a company our size with the taxes we pay would clearly have an opportunity to benefit from a change in tax rate. chairman and ceo on steel corp says the trading policies the view on infrastructure all look positive for us. repatriatie ration -- repatriat generally positive tone, though, guys, some cautious commentary around the potential impact of protectionist trade policies, specifically border adjustment tax which so far has gotten over 90 mentions discussed with ford, and others with most executives saying it's still too early to quantify how this tax policy would impact their bottom line. corporate america, deductibility which so far has gotten -- >> that would be a

seema mody has more. seema? >> the same time. >> come back in the prospect. 2015. have seen $7 billion come into emerging market exchange traded funds just this year. experts do say washington will play a critical role in how emerging markets perform in 2017 especially when it comes to president trump's policies on trade. it is worth noting, kelly, that hedge fund investments in emerging asia did decline in 2016. >> still interesting. seema, thank you. >>> president trump throughout his campaign frequently accused china of currency manipulation and yesterday he was asked by reuters why declaring them a manipulator. here's what he said. i think they're grand champions of currency. i haven't held back. we'll see what happens. treasury secretary steve mnuchin had a different tone when talking about those practices. >> we have a process where we go through and look at currency manipulation across the board and we'll go through that process so we'll do that as we have in the past and we're not making any judgments until we continue that process. >> so what's right here.

seema modi, tell us about them. >> disappointing earnings from shutterfly. missing street expectations. $2.63. consensus was for $2.84. revenue below wall street consensus at $561 million versus 584. q 1 guidance below estimates. 2017 guidance is mixed. in the press release the company is saying there is a new focus on four strategic areas supported by its 2017 restructuring plans. shutterfly announcing four areas of strategic focus, making purchasing personalized products simple, expanding the range of products, pivot to mobile and leverage of the manufacturing platforms. shares down more than 15%. back to you. >> ouch! >> yeah. >> that's not good. thank you. we'll check back. >>> am so looking forward to this segment. trump elected president riding a wave of nationalism and economic reform. those two messages had some recalling ronald reagan's rise to the white house. mr. trump's america-first battle-cry has the likes of ray dalio who runs the world's largest hedge fund saying he is increasingly concerned about the emerging policies of the trump administra

the president of the royal college of paediatrics and child health, professor neena modi. dr chaand nagpaul from the british medical association. we asked england's health secretary jeremy hunt and other ministers from the department of health to take part in the programme. they said no, but did tell us, "across the country we know the nhs is very busy, but hospitals are performing well —— why the laughter? -- why the laughter? it is obvious the nhs is to busy. it seems like a ridiculous statement from the ministry of health to have to tell us ministry of health to have to tell us that. it goes on. "but hospitals are per fortunatelying well with steps in place to cope with the extra demands winter brings, supported by an extra £400 million worth of funding. " it sounds like a lot of money, hugh. well, if you think the overall budget for the nhs is more than £100 billion a year in england it puts it into prospective. i'm not totally clear about the £400 million, i think it is recurring money that's spent every yearfor think it is recurring money that's spent every year for