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tv   Worldwide Exchange  CNBC  June 2, 2016 5:00am-6:01am EDT

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good morning. happenings now opec ministers are meeting in vienna and the oil markets are on high alert. a live report from the cartel's gathering straight ahead. >> and it's decision day at the ecb. central bank widely expected to hold steady but what will draghi say about growth and inflation. >> and the world according to elon musk. the business visionary speaks on apple, a.i. and bring people to mars. thursday 2nd of june, 2016 and "worldwide exchange" begins right now. ♪ ♪ between these walls
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♪ and i can shake them out ♪ >> very good morning and warm welcome to "worldwide exchange." i'm wilfred frost along with edddee bosa. you said very clearly dee-scission day. is that because your name. >> -- [ inaudible ] >> -- important nonetheless we'll be talking about that ecb meeting and vienna coming up. >> i notice the music. something you did. >> -- the theme today is. >> summer. i like that theme because it is june and did get my pick in last minute. i already told you. >> already told me. >> but i won't tell the audience. >> more warming summer tunes to come up. let's have a look at the futures board right now. nothing to pronounced. yesterday a swing in terms of performance for the equity
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markets. all three indices managed to close in positive territory albeit only very slight gains and looking at only very slight losses in the pre market at the moment. the dow lower by 12 points. the key takeaway was manufacturing data was strong enough to keep a june hike a possibility and the markets reaction which was relatively positive also strong enough to keep june a possibility. if the same happened on friday with the non pharm payrolls we really would be looking at june as something that may well happen. the 10 year note. 1 fnt 837%. >> and global markets are also looking at the possibility of a june or july rate hike. we're also waiting to hear from the ecb today. a decision due at 7.45. the central bank is expected to keep rates on hold but raise growth and inflation forecasts.
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let's look at early european trading. and we are seeing some gains after a pretty soft start to the week but nothing too major here. markets are really in a wait and see mode until we do hear from mario draghi. and until we do get the job figures and of course there is that opec meeting today. let's also look at the euro we are currently at 112 and a little against the dollar. >> focus will be on the press conference. what will mario draghi have to say on the referendum. and alsogreece. will they be allowed to start using their assets at the central bank again. asia t nikkei dropping over night quite significantly. down 2.3%. among the reasons a stronger yen and a t year delay in the
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sales tax hike. fact the yen is at a two week high this morning. the rest of asia positive. hong kong up half a percent. shanghai up --. >> when you see a lot of strength in the japanese yen that is typically not great for markets. they can't hold up for too long so that can be another risk event on the horizon. let's also look at the broader markets. oil. and we have that opec meeting today. oil right now has been in a holding pattern until we hear from opec.
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wti is 49 bucks. dollar, this is important the next couple days. wilfred mentioned the yen strengthening and also the euro. the pound is going to be important to watch. we have seen some weakness recently and exciting stuff going on there. gold as well dollar strength is going to be important. we have seen gold take quite a leg down in the month of may. we are seeing a little strength now currently at 1217 an ounce. >> opec ministers are of course gathering in vienna. crude hovering near $50 a barrel. the cartel is not expected to make any changes to production targets. of course on the rhetoric out of meeting our brian sullivan is on the ground with the latest.
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good morning. >> good morning wilfred and dierdra. we might bet changes on production targets. they just had this media scrum where the ministers sit out and you run around and try to get commentary from them. and there is some optimism that maybe they are going to establish either a total production quota or what venezuela is proposing is that every country comes in with a certain range of production cap. is that going to happen? are they going to vote on that? that is what some of the countries are wanting. and the idea in doha was we established a freeze on production. that failed because the saudis and iranians couldn't agree. the iranians are at 3.8 million, closer to 4 million. so they might be more amenable to make a deal. what about prices because that is all people really care about.
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most countries said $50 a barrel is not enough. listen to this comment from the oil minister from qatar. >> from the interest of the oil industry for the interest industry of long-term security of supply certainly $50 is not a fair price but a fairer price is needed so that investment is starting to reinjected into our industry in order to secure the supply on long-term. >> error is a nice code word for what would like high eer prices. we'll see if they can get anything done. the market can move but there is so much animosity between the country, politically, economically, religiously. we'll see if they come out with any mojo. >> a little surprising to hear that 50 isn't enough just considering how much the oil price has ramped up over last few months. do you think we could maybe get a surprise today from the meeting? >> yeah we could.
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listen. we've got to remember that when oil was out a hundred and fell through 50. dierdra you live in canada. a oil heavy nation. when oil fell through 50 that was bad. we can't be happy now that oil is back to 50 because 50 is 50. it is the same price. and let's couple the trouble too. venezuela and nigeria struggling fistically. angela, ecuador. the fact that u.s. production's come down. the canadian production has come down because of the fires up there in fort mcmurray. that's maybe helped strength theens opec's case. and we've got to remember that opec is largely being seen as neutered in the world the last few years. they are not quite as powerful as they were with oil. they don't like that. they would like to reinstate opec's implied power over the oil market from this meeting.
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>> thank you so much. now the big u.s. economic focus today? jobs. employment reports due at 8:15 and weekly jobless claims at 8:30. this all leads to tomorrow's big government jobs report. land dowdy with more on on who wha to expect. >> -- added $170,000 jobs in may. that data may have more clout than usual because it could be a predictor for flid's jobs report. last month correctly forshadowed a number. and jobs report at 8:30 a.m. on friday, unemployment is expected to hold at 5% for a third straight month. the u.s. is expected to have added 158,000 jobs in may versus 160,000 in april. and some economists saying the
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verizon strike likely removed about 40,000 union workers from payrolls. and markets are on watch with traders telling the hits and misses that could influence a very data dependent fed which holds a meeting on june 14th and 15th. and if jobs were to surprise and it's 250,000 plus, june could come back on the table in a hurry. >> here is today's other things to watch. in corporate news uber raising $3.5 billion from the investment arm of saudi arabia i. the ride sharing company's most recent funding round now totals 5 billion, giving uber a valuation of $68 billion.
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that brings us to our twitter question today. is ride sharing a bubble? and you have to wonder. those numbers. but it is not just uber. >> exactlyright. we've had the apple investment in china and other investments in various start ups and challenges and yesterday morning the found over juneau on. uber itself is worth 70 billion and you have all these challenges. not small challenges either. >> and they need the money. their business model is they have to keep the market share and keep throwing money of the problem. so -- >> big transport company in the world but not a single car on its inventory. do get in touch with us on that twitter question. and a whistle blower hitting oracle. claims she w terminated in retaliation for complaining about proper accounting practices in the unit. shares fall in reaction by about
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3.7%. >> apple reported by plans to raise up to $4 billion from bond sales in taiwan and australia as of march. apple had a cash pile of 233 billion. 90% of that is held abroad. proceeds are expected to help fund apple share buybacks and dividends. in other news on the tech giant goldman sachs is trimming stuff. we'll see what kind of effect an shares today. and coming up a brexit vote could mean big business for companies in asia. >> and a look back at this date in history. june 2nd, 1953 the coronation of queen elizabeth. it was the first major international event to be
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between november and april when it hit a 2.5 year low but has since recovered about 4%. >> since recovered but over the last week it's softened quite significantly as polls have shown the race getting much closer. joining us to discuss issues of what a brexit could mean is partner at --. you are advising your financial clients on what a brexit could mean and a fall out could be. >> exactly right. one of the great triumphs of europe has been the creation of a unified market for investment ideas. this has allowed european managers and managers operating in europe to sell investment products not just to consumers in europe but globally.
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european investment products are the gold standard in south america and a good part of asia. if there is any kind of disruption to the supply of those products any disruption to new product innovation because resources are being devoted towards working out what a brexit means for asset managers, this might create a opportunity for particularly u.s. and asian managers. >> how quick does this happen? do we wake up the day of the vote if it's been for exit and see an immediate impact to uk financial firms? >> there is a two year conformance period. and there should be enough time to make whatever arrangements are necessary but it will be a distraction. and we shouldn't underestimate the amount of work it will take to allow uk managers the same access to europe as they have now. and if they don't have the same access. if their attentions are diverted elsewhere that opens the field up to asian and u.s. managers.
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particularly asian asset managers have been looking for ways to create a unified asian market. really buoyed by the success and inspired by the success of the eu in this respect. no fewer than three programs in asia that are designed to try to create a field, a market in asia for investment idea. >> do you have any names for us? >> each of the three programs are in infancy. they are up and running but it is going to take a lot the dislodge europe from this position. it is such a dominate position. right now hong kong and europe -- there is 150 million middle class consumers in china, foreign investment products and right now you have to use a hong kong domiciled investment product to sell to those
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consumers. >> one of the reasons that london remains one of the leading financial centers of the world is because of the talent it attracts there. the great minds and people who want to live there and a lot of that is down to the fact they like london as a place to live. and london woent really change as place to live if the club leaves. is that really a threat? not that many people are going to want to leaf. >> i think london will still be london. but if i could take a slightly tortured footballing analogy we saw during the last transfer window. while the premiership was undergoing a reorganization becae of how tv revenues were
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distributed, the chinese swooped in and spent more on footballing talent than the premiership did. that kind of reorganization is possible when you combine two things. a little bit of disruption in europe, which is what we had, coupled withoney elsewhere. and we're seeing this is not just a china thing. we saw that with uber and saudi arabia today. >> great analogy. thank you very much. and coming up it is a showdown in the golden state. hillary clinton and bernie sanders running nk and neck in the polls. the latest from the campaign trail up next. >> and here is today's national forecast from the weather channel's kaelly cass. >> good morning wilfred and dierdra. huge flood concerns for places like houston. we saw nearly 4 inches of rain yesterday. a new daily record. we continue under a flash flood
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watch. gorgeous day in new york city. plenty of sunshine. 78 degrees. got to love that. near 80 in chicago with the sunshine as well. hot stuff in the southwest, temperatures in phoenix already starting off in the upper 80s. so we are well on our way to the triple digitsay across the southwest. and you can see a little cooler weather up across the pacific northwest. seattle looking at cloud cover. highs around 68 degrees. 79 in bismarck. and 81 idenver. have a great day
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hillary clinton starts a push in california today. the latest polls show bernie sanders is closing the gap, as clinton tries to focus on donald trump in a major speech today. tracie potts is in washington with what we can expect. >> good morning evyone. what we can expect today is a big push from hillary clinton. because simply put just a few weeks ago she was ten points ahead in california. now she's in a dead heat with bernie sanders. hillary clinton makes three stops in california today. including a major foreign policy speech in san diego. aides say she'll call out donald trump's positions on muslims and nuclear weapons as a threat to
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national security. >> on issue after issue. we see someone who is unqualified and unfit to be president of the united states. >> they said i want japan to nuke. i want japan to get nuclear weapons. give me a break. >> our latest maris poll shows sanders closing the gap. now only two points behind among likely voters and one point ahead among potential voters. >> hillary clinton racing to california. bill clinton racing to california. maybe they think this campaign is not quite over. >> sanders has been crisscrossing the state for 12 days straight. the campaign is raising expectations now on how many
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people they will reach before tuesday's primary. >> so sanders raising expectations. clinton raising money. a lot of it. we just got the numbers in for may. the fundraising numbers looks like she raised $40 million for herself and other democrats last month. >> how significant would a victory be for sanders? would it genuinely derail the clinton momentum? or is it just a slight annoyance for her? >> well it would certainly be a symbolic victory. however, because they would split the delegates proportionally by district, even if he wins it is likely she'll still get a lot of delegate, enough to put her over that threshold where she needs to be to win the nomination. what it might do though is keep bernie sanders in the race longer. and that is a problem for hillary clinton. >> it certainly is tracie. thank you very much.
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never a dull day and now to supports. the pittsburgh penguins and continue their quest for the stanley cup. in overtime. pittsburgh tops san jose 2-1 and takes a 2-0 lead in the series. game three is saturday in san jose. you can watch it on nbc sports network at 8:00 p.m. eastern. >> still to come this mornings top stories. plus elon musk speaks out on apple, artificial intelligence and bringing people to mars. we'll hear from him when "worldwide exchange" returns in a couple minutes. ♪ ♪ such a beautiful sound ♪ and when you
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knee global markets on high alert. waiting for decisions from opec and the ecb. >> and the world according to elon musk. the business visionary speaks on apple, artificial intelligence and bringing people to mars. >> the the oprah effect. we'll stell you how the golden arches could be teaming up with the queen of talks former home. thursday, the 2nd of june, 2016. and you are watching "worldwide exchange" on cnbc. ♪ you make me feel something like the summertime ♪ ♪ top down and nothing but time ♪ ♪ road's on -- >> good morning and welcome to "worldwide exchange" on cnbc.
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i'm wilfred frost. >> and we have a theme going on with the sock. see if you can guess it if you weren't here from the beginning. getting to today's news a pair of economic reports should shed light on what may be friday's jobs data the may employment rate is out this morning. another month of strong hiring in the private sector is expected with forecasts of increases for 170,000. and weekly jobless claims. fed governor and dallas fed president are speaking today. and chip maker broadcom and five below report after the closing bell. >> ayesterday markets were down but finished just positive. essentially the dat was strong enough to keep a june hike a possibility and the market reaction also resilient enough to keep that on the table.
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all eyes of course will be on employment data today but the big jobs number tomorrow. slight declines in the pre market at the moment. the dow called lower 11 points. elsewhere european markets a bit of green. mix at the open but found a little impetus but ultimately treading water ahead of the ecb decision today. all eyes on the press consistency or inconsistency at 8:30 a.m. asian trade was positive for the most part apart from japan which was down sharply as you can see 2.3% after the yen hit a two week high after that sales tax increase was pushed back. the other markets as you can see both hong kong and shanghai were up about a half of one percent. >> and a for the broader markets a bit of a holding pattern here as well. there is just to much going on even though it is a shortened trading week.
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no agreement on an output ceiling is expected. areso youeeing wti and brent hover around these levels. crude currently49.15 a barrel. as for the dollar it is coming off strength we saw last week on the back of janet yellen's comments but the jobs report is going to be very important this friday for the direction of currencies. and let's look at gold as well. we have seen a little bit of gains after last month's losses for gold, the first month it actually lost ground this year. >> and joining us is -- chief strategies at -- investment management. thanks for joining us. y of course very strong for a number of assets. oil up, u.s. dollar up. equities up as well. did that correlation across all three asset classes surprise you? >> not really. we're seeing markets are
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climbing. and what you can see is we're having a broad based market rally in large caps. look at mid and small caps. really surging. you have global reits, even across the bond spectrum. all positive returns so really rewarding investors for broad global diversification. and what we see is the markets are climb a wall of worry. because they have negative corporate earnings. you have fed rate hike decision. you have a number of other problems out there. but yet you have a strong consumer that new home sales, a record increase in the consumer we call in a virtuous cycle. so we expect the markets to continue to move forward. but i would say that june is off the table as far as rate hikes and i think the market is anticipating that. and i think it is a tail wind
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for markets at this point. >> so if june is off the table then doug, do you see a july rate hike? and are markets going toib able to take that in stride? how long with that last, climbing that wall of worry? >> i think in the u.s. markets the data is better and it would -- i would say the unemployment data tomorrow payroll we expect to be strong and we think that july -- i don't see a july rate hike also because the -- look at the dollar. the dollars what the fed has to worry about, what markets have to worry about. because if the dollar has been rallying recently, and fit gets too high if it breaks a hundred on the trade weighted dollar index it will hurt emerging markets inarticular.
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it will hurt commodities and u.s. corporate earnings and i don't think we're ready do that. and i think the fed is going to be patient and it has some cover from inflation too. the inflation the pce core came out pretty light so i don't see july either. >> ecb and opec today. which is most important for you? >> opec i would say is a monopoly on its last legs. crude oil, the commodities and now economics have come to them. supply and demand. i think opec is dead. as far as the ecb, maybe a little more. the ecb certainly has a lot of fire power. but i think they are going to implement their stimulus. they already really accelerated their quantitative easing, their negative deposit rates. i don't see them doing anything further except implementing what they have already done. >> doug cote of voya investment
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management. costco sales rose 3% in may. benefitting in one additional selling day due to the timing of memorial day. same store sales flat but comps rose 4%. flat in the pre market. box reporting first quarter ren. beating forecastsrevenue. beating forecasts. billings rose just 9%. short of estimates. the ceo says that was due to several customers renewing contracts earlier than expected. down 11%. >> alibaba says it's bought back $2 billion from its largest shareholder softbank which was selling nearly $9 billion with. other buyers including singapore's -- which bought $500 million each. a group of alibaba executives
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and founders bought another --. stock up 7% today. >> dermira says it's experimental topical drug to stop excessive armpit sweating proved successful. existing therapies aren't as effective and can be expensive so dermira plans to apply for market approval with the fda next year. and guide wire reporting better than expected results. the maker saw license revenue rise 38, so it is up in the market. and as many as 400 film and tv staffers at fox have take an voluntary buy out package. fox initiated the buyout as part of a company wide effort to cut 250 million from its budget. >> technician visionaries are
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gathering this morning. elon musk expects apple to have a car available to the public by 2020. >> i think they will probably make a good car and probably be successful. the car industry is very big. is it is not as though there is, you know, one company to the exclusion of others. i mean there is like a dozen car companies in the world of significance. and the most that any company has is approximately 10% market share. >> as for other potential competitors music musk says google doesn't worry him because it is not a car company. and -- mission to mars on the flying dragon version two rocket starting in 2018. >> i wouldn't recommend traveling to mars in that. i has the interior volume of a
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large suv. and the trip for dragon would be on the order of six months. that is a long time to spend in an suv i think. you know, can be done. can be done. but probably not ideal. and it also doesn't have the capability of getting back to earth. >> musk expects the first rocket carrying human cargo will launch in 2024. more from the code conference all day and some great discussions coming out of that conference. only disappointment is those red chairs. i'm not sure i'm a fan of those. >> really that's what it is. >> yeah. and they are too laid back. when you are on staining -- >> make like a strategy. >> a tradeoff. lean back for go in for the questions. mcdonald's now reported my nearing a deal to move its
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headquarters. the fast food giant is negotiating winegotiate ing with chicago developer sterling bay who purchased the land in 2015. mcdonald's will not comment on speculation. and google cars. programming cars computers to understand which road situations may require a honk. aimed to be polite, considerate and only honk when it makes honking safe for everyone. >> purpose of a honk. you do it when you have road rage but also when you need someone to listen up. >> if the other driver they are honking is actual a human driver then it still just about makes sense. >> yesterday we are talk able the replacing siri with your voice. with your british voice it would be so much politer.
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>> -- full house is on the market. did you ever watch that show? it comes with a $4.15 million price tag. the house located in northern california is best known as the exterior shot for the 1980s hit show full house and the recent fuller house reboot on netflix with 3 bedrooms and 3.5 baths. it was last sold in 2006. i feel like i know that house inside out but it is probably different from the shot. >> i doubt that. the best thing i know about full house is the interim music. i've seen squawk alley's remake of that. very very good. >> i need to sew that. >> somewhere on youtube. >> domino's is giving noh new meaning to eating on the go testing a bus delivery service in england. commuters can order by phone
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using a menu available on the bus and the pizza will arrive at their stop. interesting idea. i hope it works. it makes it more efficient on your way home. >> good stories in there. buzz worthy. coming up today's must reads and including one titled trump's mad. stay tuned. more "sit" per roll.
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today's must read stories. my pick, brexit would tear britain apart. i agree with what the writer says in that if we saw a vote for briton leave centered around england voting for it and scotland wanting to stay, then that could spark in the reformed vote in scotland. if england voted it would make eminent sense for scotland to swap one union for another. i'm not sure that is the case. i do definitely agree it could spark another vote in scotland. i'm not sure the argument is the same for the benefits. and last time around the economic case was base on oil price above 100 dollars and the
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other key for scotland as well. is they would be leaving economic and monetar union. they would have to leave the currency. writ britain leaving doesn't have do that and makes the economic case less stark. >> one thing i wanted to ask you. you were covering the election in the uk. were you surprised by the outcome? i'm wondering how much after chance to get a surprise decision to leave is this. >> the polls hinting ahead of it didn't suggest the conservative government would get a majority and they did. and that is that question of whether there is some right wing voters hiding out there people haven't correctly polled and could that give a big boungs. >> -- big bets that banks have made on britain staying. my pick is also political. from the wall street journal. trump's mad. this persona brought him from his entry into the race last
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june into the gop nomination. gave him one good year. his assertions that he won't change that he'll continue to attack any republican that is not on my side sound ed inadequate. his public persona is starting to look like a comfortable self limiting security blanket." . has he built up this persona so intricately and it's worked so well does he have no choice but to stick with it? >> and will it be the thing that delivers him further success? still to come the markets start out june by reversing losses with tiny gains yesterday. richard clarida will weigh in with his view coming up. ♪ i like girls who wear i order b14. i get b14. no surprises. buying business internet, on the other hand, can be a roller coaster white knuckle thrill ride. you're promised one speed.
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welcome back to "worldwide exchange." approaching the top of the hour so that means the team is getting ready for "squawk box."
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becky quick joins us. >> we have a good morning coming up. we're going to be taubing all of the things you have been talking about. what's happening with the markets and the expecting from the fed and great guests lined up for us. the former wells fargo chairman and ceo is going to be our guest host from 6:00 to 7:00 a.m. eastern time. we'll get the chance to talk to dick about what he expects to see what happen. and then from 7:00 to 9:00 a.m. eerns time this o morning we have jack welsh. former head of ge. we'll be talking about the economy, private equity companies he's been meeting with. and also see what he thinks on what's been happening with poll tickets. and plus we've got walter isaacson.
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a lot of big guests to talk about all of these issues you have been batting around this morning. >> becky, thanks very much. and joining us is -- at pimco. good morning and thanks for being with us so early. june has started but markets have been in this holding pattern from stocks to oil to currencies even. we're all awaiting more indication whether that's from o beck or the fed. what is going on the driving stocks this summer in your opinion or the broader markets? >> i think it is going to be a combination of the fundamental data, fed communication and obviously central bank policy action. the data has been improving. you are seeing that reflected in oil prices and stocks are near all time highs. the fed has indicated in communications that it's inclined to continue the rate hike cycle and of course last summer that got derailed because of market selloff.
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so i think we'll all be looking to see how markets bounce off solid data against the fed inclination to begin hiking will be the key drivers. >> rich that sounds relatively relaxed. even slightly positive. today you would say pimco releases its secular outlook and you say only the -- sounds much mature more severe and any positivity we're seeing is really only based on loose policy and not on fundamentals. >> the key point is that the global economy appears stable but we think that stable masks some insecurity. the global outlook has only been supported by quantitative easing, zero or negative interest rates and so borrowi i binge in some economies. beyond that where he think investors should be aware that this slow growth environment has risk to the downside and upside. >> and you are saying active
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management a world of negative policy rates is the way to go but so far that is hasn't really been the case. >> if you look at the longer term framework over several years, active management has paid off certainly it's paid off at pimco and i think the key thing if you are in an environment where you can get double digit return passively, that is great. but we're in a world of row returns. so the extra benefit will be key for many managers. >> the brexit votes. the last week has seen the exit camp gain back some of the gap in the polls. is that a concern for you for pimco? >> welcome loot a this like others do. and it does appear that the most likely outcome is there is a remain vote and not a brexit vote. but it is very close. it is important to you saunders that in the event there is a brexit vote that just begins another round of negotiations over a period of several years. so if the uk remains then i
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think this is over. if there is a brexit vote then we would have another set of negotiations for two years. the big wild card would be what impact it would have on other countries in europe. >> and given the uncertainty of the brexit do you think that is going to cause the fed to hold off on a rate hike in june and will wii see one in july perhaps? >> that is a good point. some officials have indicated they are aware of the brexit vote. and i think that maybe one reason why we do not get a rate hike in june and why we might see nit in july. also the fed is getting data in early july on the u.s. economy so push the decision off a month or so. >> opec and and ecb. which is is most important today in your eyes? >> well i think opec.
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i think neither is all that important. ecb is going to continue its policies it rolled out this spring. and in the case of opec it is not really clear what opec does anymore. i'm sure the meetings are fun to attend and to cover. but essentially opec is producing now at the levels that individual countries want to produce and we've seen some tightening in oil markets because of the supply disruption. so i think opec meetings are less important than they were. >> rich clarida of pimco. let's get to the results of our twitter and facebook question. we asked if ride sharing has become a bit of a bubble after uber's latest round valued the company at close to 70 billion dollars. 70% of you say yes it is. >> and that is pretty decisive. >> pretty decisive. >> just about 20 seconds left. main thing you're watching the meetings coming up. >> absolutely. >> and jobs report. >> and adp employment rate of
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course comes today. >> been a pleasure will. >> indeed. "squawk box" is coming up next. you get use to pet odors in your car. you think it smells fine, but your passengers smell this. {ding} eliminate odors you've gone nose blind too, for up to 30 days with the febreze car vent clip. wow, it smells good in here. so you and your passengean breathe happy.
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♪ no, you're not ♪ yogonna watch it! ♪tch it! ♪ ♪ we can't let you download on the goooooo! ♪ ♪ you'll just have to miss it! ♪ yeah, you'll just have to miss it! ♪ ♪ we can't let you download... uh, no thanks. i have x1 from xfinity so... don't fall for directv. xfinity lets you download your shows from anywhere. i used to like that song.
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happening now. opec ministers are meeting in vienna and the oil markets are on high alert. a live report from the cartel's gathering street straight ahead. and we're waiting for a central bank decision and jobs data. ecb and abp both out before the opening bell. and a man on mission could arrive on mars in less than a decade. i thought matt damon was already -- i don't know. and that's according to elon musk. his comments straight ahead.
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thursday june 2, 2016 and "squawk box" begins right now ♪ i think it's going to be a long long time ♪ ♪ touch down brings me round again to fine ♪ ♪ oh no no ♪ i'm a rocket man. >> no. good morning everybody. back welcome to "squawk box." i'm becky quick. joe kernen and steve leisman. andrew is off today. let's look at u.s. equity futures that the hour. things are flat. dow futures down 3.5. s&p down is. the nasdaq down less than 1 point. overnight you saw a little strength in asia. the hang seng was up almost half a percent. the shanghai up .4%. you saw the nikkei pull back about 2.3% after shinzo abe decided they will not be going ahead with this increase in some of the consumption taxes. been planned to increase from 8%


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