. >> and i'm seema mody.e're down, 3% for the s&p, the dow slightly lower this morning, we're expecting a slightly lower open. the nasdaq down 4 1/2 points as well ten-year treasury note, deals slipped. 2.844 on the ten-year. >>> european stocks also ending the week lower, losing 3.7% last week and it was the european steelmakers and aluminum stocks under pressure both losing about 3% hearing early trade on monday, we're broadly higher with the german dax up 0.8. and it's holding steady for gold 1.23 just fractionally on the day >>> and italy's election signalled a hung parliament. cnbc willem marx is in rome with the details. willem >> reporter: yeah, seema, that's right, this is not an unexpected result we saw in the polls last week indicating a hung parliament we've seen the five-star movement, the anti-establishment party formed back in 2009 has come out with 32% of the votes counted so far 30 counted out of 35 or 36 there's still a way to go before we get a final number. if we look at the center right co

seema mody takes a look for us tonight. >> reporter: the first quarter of 2018 has been active to say the least for investors. triple digit swegs, volat moves and changes in policies that have economic in the second quarter expect wall street to stay focused on washington. on the topic of trade investors will be keen to figure out whether u.s. relations with china, a large trading partner, will strengthen or weaken. heightened rhetoric on trade protection is expected to co einue,alating worries of a trade war. when it pertains to taxes,om econts will be keeping a close eye o the data to see whether a reduction in the tax rate is starting to have a positive effect on consumers. if we don't see an up tick in spending or consumer confidence, that could push wall street analysts to bring down their growth expectations. currently, analysts are ticipating the united states to grow 2.5 to 3% in 2018. with growth in focus the market a anticipatinther 25 basis point rate hike from the federal reserven the second quarter. while rising rates are not always good for stocks, traders say equities c

. >> and i'm seema mody. good to be alongside >> brian sullivan is off this morning.cks are lower this morning as investors await this big fed meeting this week. right now, dow futures you can see there, off by 166 points to start the day if things hold the way they are we're also following a developing story right now out of austin, texas police on on the scene of yet another explosion. two people were injured. this latest blast follows a string of package bombings that have rocked the city over the past several weeks >>> president trump is headed to new hampshire today. he's expected to lay out a new plan to tackle america's opioid crisis after the back and forth in the mueller investigation. >>> and vladimir putin claiming victory in russia's central elections. the committee said putin took more than 75% of the vote. he's going to remain in office for 2024 >>> and "black panther" continues to dominate. disney marvel movie taking the box office for the fifth straight week, seema >>> first, the countdown is on congress has until midnight friday to pass a spending bil

. >> i'm seema mody. global markets reacting to news that the white house is planning to launch heavy tariffs on steel and aluminum imports let's look at how futures are setting up for trade the dow is down by 94 points the nasdaq down 16 and the s&p 500 down 8 points. the dow posting its first three-day losing streak of 2018. the dow yesterday did lose 420 points looking at the mod in asia, stocks closing there with the hang seng closing with a decline of 1.4%. in europe, stocks there were responsing negatively to the tariff move. the dax leading the declines down 2%. similar story in france. and italy were down 1.89%. >> even though we had a big bounce back last week in the u.s., european markets, asian markets never bounced back to the same extent. >>> we have team coverage of the global fallout to the new tariffs. eunice yoon is live in beijing, karen tso in england, but we start can kawith kayla tausche >> president trump's announcement that he would seek global tariffs stunned investors, white house

i'm mike santoli >> i'm seema mody.e, good to be by your side this morning >> great to start a new month with you let's look at the futures at this hour. still under pressure we had late-day selloffs the past two days. the dow down about 83 points right now. still not far above last week's lows the s&p indicated to open down 7. about a third of a percent the nasdaq also looking to be open down about 7 points >> we'll have more on the markets in a second. first a major corporate story. walmart joining dick's sporting goods in raising the minimum age to buy a gun to 21 walmart is also removing items from its website that look like assault rifles including non-lethal air soft guns and toys walmart already stopped selling assault weapons and accessories back in 2015 >>> turning back to the markets, february was a tough month for stocks the dow snapping ten straight months of gains. that was the longest win streak since 1959 recapping the index for the month, the dow fell more than 4% the s&p dropped 3.9% the nasdaq was bett

i'm dominic chu. >> i'm seema mody. >> let's check on the global markets.eing the futures picture weaken over the course of the past half hour. dow jones futures indicate a slightly lower open at this point if things hold the way they are with the s&p 500 and nasdaq pretty much flat as well. we're also watching shares of facebook holding in the red as the fallout growing from the privacy scandal. we heard from goldman sachs facebook analyst within the past half hour. he says this scandal could impact the social network's growth >> i think it's certain that we'll get regulation in this area the current way that political advertising online is regulated falls under a very narrow, loosely regulated category that's clearly going to change, not just for facebook but for everyone it's a question of how far does that go? you have categories of advertising online like pharmaceutical where the level of disclosures, the level of requirements that go along with that advertising are so ownneros that very little is down the question is will political move all the way in

. >> i'm seema mody in for sara today.t will be an interesting day for markets. >> let's look at them, moving lower after that bombshell announcement that gary cohn is leaving the white house. we are down 349 points on the dow. let's get straight to eamon javers live in washington with the latest good morning >> good morning. another week, another major white house departure. this time gary cohn, the president's top economic adviser. it was not an unexpected move and throughout the afternoon white house aides were cautioning us that if gary cohn were to resign it would be about more than the tariff decision made by the president of the united states last week. gary cohn had been opposed to it, was maneuvering to block it or take the steam out of it, in the end gary cohn left the white house last night, an announcement that came after the market closed. the president on twitter last night saying we will be making a decision soon on the appointment of new chief economic adviser. many people wanting the job. will choose wisel

seema modi with the selloff, it wasn't just tech banks were also leading the way down wilf is back with those details. >> let's go into it because clearly yields have been an important factor if we look at the ten-year, just today we can see it's down below that 2.8% level. if we broughtaden out to look at year-to-date, it's the first time we've seen yields slip below 2.8% but year-to-date we still have yields higher than we start the year quite significantly we started at 2.4%. that plays into which stocks are affected when. let's use bank of america as the most interest rate sensitive if we look at it over one week, down 8%. down 7.7%. a big selloff because it's an interest rate sensitive bank stock. if with he look at it year to date, it's still flat as the sector goes. yields, as we said already, have risen over the course of the period year to date. if we look at investment bank performance, goldman sachs down 6% relatively speaking it's outperformed over the course of the last week, only down 6% because it's not as interest rate sensitive year to date, it's down 3% it hasn't enjoy

now let's get to seema mody at hq with the european close coming in a couple minutes >> european stocks are rising for a second consecutive day the main catalyst being north korea. suggesting it is open to talks with the united states giving up about giving up nuclear weapons. waning fears of a trade war also adding to sent as you can see here, the biggest gainer is italy. up almost 2% today following sunday's election. and this rebound is in reaction to reports that rival populous parties ruled out a coalition easing concerns about a potential hard line government yesterday the italian markets did enter correction territory briefly before rebounding up 1.7% today the euro is rising against the u.s. dollar with the ecb policy meeting just two days away it's at 1:24 and moving on to m & a, europe's largest cardboard box maker is soaring. they got a takeover bid from international paper of the united states. saying the deal fails to reflect the company's strong growth prospects. that stock up nearly 20% and take a look at the uk grossers there is new data showing that text sco and morriso

seema mody in san juan. >> reporter: puerto rico was already struggling through a decade-long recession which pushed the u.s. territory to the largest municipal bankruptcy in u.s. history when one of the most destructive hurricanes in history made land fall in september. it's now been six months after hurricane maria and puerto rico is desperate to bring busineso backhe island. the government positioning itself as a hub for the rapidly growing blockchain industry which has yet to claim a city as ts headquarters. this pastweek, thousands of crypto and blockchain developers descend upon the island to attend three separate industry conferences in the capital of san juan. the secretary of the department of economic development announced a new advisory council initiative to help develop and attract blockchain business to the island? we are welcoming, with open arms, blockchain technology for puerto rico because we know there is a huge potential for the island. >> reporter: t insendives make puerto rico an appealing destalation. specif act 22, which says if you become a resident of essentiall

seema modi is at that exchange. >> a lackluster debut for the chinese streaming site, down nearly 10%ht now despite today's price action, keep in mind, is still the largest chinese ipo since alibaba in 2014 and the fifty chinese ipo the nasdaq has seen this year following 17 chinese listings last year. iqiyi's debut comes a day after another chinese online video platform billy billy sank in its debut. both are trading down. speaking to one nasdaq executive, i asked if tensions between washington and beijing is having any impact on the ipo listing. he gave me an emphatic no but said the fear of retaliation is something they're watching very closely. back to you. >> seema, thank you very much for that now, it's not just these chinese listings that have run into trouble of late. a number of recent ipos have had less than stellar returns. adt is down 40% from its ipo price, albeit up a nice 4% today. blue apron is now trading under $2 a share bouncing -- you keep an eye on that one. >> i do. it's right behind us and it's been an ugly one interestingly enough, a new report from renaissance

carl >> thank you very much, sue herera >>> let's get to seema mody back at hq with the european close europe has erased all of its gaining closing lower on the day following a tough session overnight in asia. look at the german dax down 258 points from the high to low. the big laggards include adidas, commerzbank and deutsche bank. traders say the weakness in the dollar on the back of these trade worries is a source of concern, a stronger euro is not good for those european exporters. though we should point out europe's auto sector ending mostly higher on the heels of a report that beijing and washington had begun to negotiate u.s. access to chinese markets easing some concerns of a full-blown trade war back downtown to you >> thank you >>> when we come back, the facebook fallout continues over data practices including calls for increased federal oversight. brendan carr is join us with some insight more "squawk alley" straight ahead. >>> dow session high was up 511. we've come off that just touch let's get to bobs by s s bpisani >> we went straight down after 9:45 we are bouncing now

seema modi and bob pisani. bob, let's start with you. >> we're at the highs of the day. we're not getting those big market on close sell orders, $2.5 billion we saw on friday. that tanked the market towards the close. let me show you the s&p 500. we were fine at the open, 40 points on the upside and slid going into the european close. it looked like the minute that stopped, europe stopped, the market lift. we have a nice v-shaped pattern to the trading today sitting at the highs for the day. you have two things. when they move, the whole market moves, and that's tech and financials you look at ibm on the floor when ibm starts moving like that, 2.5%, that doesn't happen that often, you overall get a market rally then we also have, of course, the financials when you get a goldman sachs here up $8, that's a dow component, that's about 60 points in the s&p 500. and you'll be assured a rally when you get two big tech stocks moving at the same time. the other part that's helping is industrials, which have become proxies for the trade war dispute. boeing, we put that up day aft

there's risks here seema mody is in san juan with the details.eema. >> courtney, it's been six months since puerto rico was hit by one of the worst hurricanes in history now the island is desperate to bring business back. the government is positioning itself as a destination for blockchain start-ups this week, launching an advisory council that is dedicated to helping blockchain companies grow here on the island. >> at this point in time, we are welcoming with open arms blockchain technology for puerto rico because we know that there's a huge potential for the island >> it's a tax incentive that makes puerto rico very appealing. specifically act 22, which basically says if you become a resident of puerto rico, you effectively pay no long-term capital gains. of course, that's appealing to specifically the cryptocurrency and blockchain investors that's one of the main reasons a lot say they are making the move to puerto rico >> this is one of the best places to put a start-up company. the tax incentives are incredible, the talent down here is incre

. >> thank you very much, seema mody at post nine.e're seeing a little buying here as europe is closing. let's get a news update with sue herrera. >> buzzy dsy day here. central michigan university police confirm two people were fatally shot at a residence hall on campus. they are not students and police believe that situation started from a domestic situation. there are no additional injuries reported yet a 19-year-old suspect is still at large and is considered armed and dangerous. >>> a five hour truce is in effect in damascus in the suburbs there for the fourth time this week number civilians left the area in what is known as eastern guta. the government run tv says that she shelled a crossing point to prevent residents from leaving >>> and the unusually cold bitter weather gripping europe has caused traffic delays throughout the uk. britain's military deplayed ploid in central and western england to help get hospital employees to work and assist police in rescuing people from snow bound vehicles. hundreds of flights were canceled

. >> and for that and a the rest of the news before the bell we go live to seema mody in cnbc world headquartersmorning, seema. >> good morning. facebook stocks shed nearly $40 billion in value yesterday, it's worst day since 2014. the social media giant is coming under fire for allowing political consulting group cambridge analytica to access personal data for more than 50 million users without their permission. cambridge also held that data for years despite saying it destroyed those records. analysts say this represents a big public relations and regulatory risk for facebook. tech site the verge reports facebook is holding an emergency meeting today where employees can ask questions about this incident. now, back to wall street. set to open higher today this morning after yesterday's big selloff. nasdaq posting its worst day in more than six weeks. tech stocks dragged down the market led by facebook. on today's watch list the fed which kicks off a two day polly meeting. they are expected to hike interest rates when it announces its decision tomorrow afternoon. the dow walling 335 points yeste

seema mody is at the bitcoin conference. >> reporter: one of the topic of discussion is what a rough week it has been for cryptocurrencies over $62 billion in market cap erased overnight folks say there are a couple different factors contributing to the decline first the regulatory fears of a crackdown after the senate's hearings around initial coin offerings and google's decision to ban cryptocurrency tiedments. it seems it is a setback for an industry still in its infancy and arguably needs outlets like google and facebook to get the word out. >> it's probably concern for the industry it's definitely concern for people that do a lot of public sale marketing we specifically avoid that we don't do public sale marketings because frankly the rule sets are not necessarily clear right now. we are all about self regulatory movement watching industries in a part of a couple of different groups and we also have our own piece. >> i spoke to the head of block tower capital one of the larger funds. he says many cryptocurrency investigators were hoping for institutional money to pour in and con

> europe putting their market day to bed we find out soon if that has impact on us let's get to seema modyunder pressure as the tech sell off reached europe the sector closed down by around 2% all 27 constituents of the european tech sector trading in negative territory on the concern over tighter regulation out of europe. also concerns about apple's pipeline persisting, as that note came out of goldman, sachs that says it sees lower iphone sales in maran june quarter relative to wall street expectations european apple supplier dialogue semiconductor down more than 11%. financial in focus with german bond yield below 0.5% first time since early january, putting pressure on broader european sector commerce bank, hsbc and other banks in the red in today's session. credit suisse coming back in late day trade and trade worries carry on and global resources i should point out, worst sector in europe for 2018 down about 8%. guys, sending it back to you >> thank you >>> president trump signing a revised trade deal with south korea. the new deal ahead of negotiations over nafta. robert lighthizer

update this hour carl, i'll send it back downtown to you >> thank you so much >>> let's get to seema modyand get the european close. >> carl, this idea that a trade war has been averted is sending global stock higher. european stocks which did not participate in the rally yesterday are higher today led by the industrials and autos. that is helping germany outper there you go, up more than 1.5% in today's trade amazon also making headlines in europe today the french supermarket player casino, its grocery chain says they'll start selling products through the prime now service. it is seen as wayne for amazon which has been trying to strengthen the footing in the european grocery market since it purchased whole foods last year. you're looking at casino up over 4% in france retail though lagging in today's trade. sweetish fashi swedish retailer h & m saying that shares are down 5% to tachlt check out the six month performance. chairs are down nearly 50% that's a struggling retail maker in sweden. >>> lastly, deal news to take note of today. axo noble shares are higher after the paint maker ann

i'm seema mody stocks opening higher with tech standing out as the best performing sector this morning3. today's winners, semiconductor names micron tech up 4%. trading at levels not seen since september of 2000 as well as western digital a, applied materials and lamb research, all up between 3% and 4% a strong day for chips carl, back to you. >> all right seema, thank you very much international womens day is kicking off this thursday. ahead of that, two new surveys are out looking at misperceptions about the pay and leadership gap and how to close the gaps our julia borstin joins us from l.a. with more on that >> carl, the bad news is that things are much woorse than people think there are present of solutions to help close the gap. misperceptions about the gender gap are massive according to a survey by the organizers of international women's day. now nearly half of people think equality between men and women will be achieved in their lifetime but at the current pace of change, the pay gap won't close for another 31 years after that. survey responders believe that nearly a fifth of

i'm seema mody at the nasdaq, we're watching ige trade off its price.o streaming site, often referred to as the netflix of china it makes it the second largest ipo here in the united states so far here in 2018 and the largest chinese company to go public here in the united states since alibaba in 2014. but so far, a disappointing debut. it priced at its midpoint $18 a share. as you can see, trading below that at $17.25 lower by 4%. keep in mind, it does have u.s. backing, venture capital names like sequoia capital i would point out its largest shareholder is bidue >> a chinese streaming company that seema is talking about. here in the u.s., we have more streaming options than ever. how many americans have cut the cord completely? exclusive results of our all > plican survey coming up where. >>us, what it means for the future of television don't move "power lunch" is back in two >>> hi, everybody. i'm sue herera here's your cnbc news update at this hour. russian foreign minister sergey lavrov says moscow will expel the same number of diplomats from the n

seema modi with that. >> updating guidance in response to the 25% increase on steel the company saysanticipating incremental shipments of 100,000 tons a month once the restart process is completed u.s. steel also expects benefits from these actions will be primarily reflected in the second half of the year as recent price changes become more fully realized for spot and contract volume and shipments increase from grand knight city. we're looking at the stock up 1% on these updated numbers back to you. >> not a huge pop but still -- i feel like the journal just had this whole story on this, a scene saeter in the way the communities were being affected by plant reopenings. >> the other thing we don't know, huge rush of orders potentially by customers thinking the prices will be going up you're getting help on the expectations of price for steel and also because in the short term is a front-load willing effect. >> the shares are up nearly 2% for u.s. steel, a little over 44 bucks right now. >>> joining us now is a co-author, steve cahill. thanks for joining us at post nine one of the thi

. >>> another volatile day of trading in the markets a number of big tech stocks on move seema mody ise nasdaq market site. what is going on there. >> tech is certainly dominating the market discussion here at the nasdaq technology accounts for over 50% of the nasdaq 100 versus the 25% weight in the s&p 500. that largely explains why the nasdaq has been ubd performing the broader market and the nasdaq has moved 2% in four trading sessions, we're down about half a percent right now. led by netflix down another 4% after losing 6% yesterday. it is the worse daily performance. and amazon is down and the white house is evaluating the company including the tax practices. and look at the performance of the stock for the year netflix and amazon are still higher -- that is not the case for apple. the tech selloff has gone global treasury department is reportedly developing plans to identify the technology sectors that chinese companies would be banned from investing in it is been cited that semi c conductors and others but chinese tech names that fuel the emerging market last year are down acro