tv Worldwide Exchange CNBC June 8, 2016 5:00am-6:01am EDT
good morning, breaking overnight, the world bank cuts its global growth forecast. we'll tell you why coming up. new this morning, hillary clinton celebrates history becoming the first woman to win a major party's presidential nomination. bernie sanders isn't backing down. and behind the wheel, new evidence of americans' love affair with the suv. two major automakers shifting gears today. it's wednesday, june 8th, 2016. "worldwide exchange" begins right now. ♪ you got that daydream look in your eyes ♪ a very good morning and a warm welcome to "worldwide
exchange" on cnbc from susan li, taylor swift and myself. susan in for sara again today. susan, let's get up to speed on the markets this morning. basically we were basically flat. nasdaq down, the other two indices slightly up. now, they were below flat. today week just above flat only ten points on the dow. less than one point for the s&p. the nasdaq is up a couple points essentially as i said we are flat in the premarket. let's have a look at the bond market. the ten-year note this morning trading at 1.70%. the main market we're seeing that is the german bond which we'll be getting to in just a minute away. >> also more on markets. first, breaking political news overnight, hillary clinton and donald trump taking victory laps. nbc news projects that clinton
will win a majority of pledged delegates following yesterday's final super tuesday of this election season. >> thanks to you, we've reached a milestone. the first time -- the first time in our nation's history that a woman will be a major party's nominee. >> but in a speech, just a few hours ago, rival bernie sanders pledging to continue the fight right to this summer's democratic convention. >> i am pretty good in arithmetic, and i know that the fight in front of us is a very, very steep fight. but we will continue for fight for every vote and every delegate we can get. >> and we'll have much, much more on the day's top political stories including donald trump's rare use of the teleprompter last night as he stepped up attacks on clinton.
wilfred, this is the fifth time he's used it and the first time on election night. >> more on that story and other news to come. let's get back to markets in the meantime. the world bank cutting its global forecast from 2.4% down from 2.9%. it cites weak global trade and diminishing capital outflows. there's been more economic data overnight. chinese exports falling more than expected, helped back on weak demand with import surprise to the upside, the point note really on the data as a whole as it doesn't increase views of immediate downside but does show growth in recent months. meantime in japan, the gdp was revised higher. as you can see in asia, basically mixed. a little softness in shanghai and hong kong.
japan enjoying a 1% bounce this morning. let's look at european trade. most notably in france and germany, do bear in mind we were particularly strong yesterday. the german ten-year bund hit its lowest point from 0.04%. more importantly, the ecb has started to deliver on its quantity tiff easing program in buying corporate bonds. we don't know exactly which bonds those are we'll get views on that. a record low for the ten-year. >> as for the broader markets, oil at $50 a barrel. high for wti, the highest we've seen since going back to last year. meantime, the u.s. dollar, let's get a check on currencies, the
dollar has been trading weaker as it looks like janet yellen and the federal reserve says for the rest of the summer not hiking interest rates. as you see against the yen, a bit of strength. the yen 1.07 and change. the yen reacting to better than expected gdp rescissions that we saw for the first quarter. and gold, with policy around the world. gold trading at 1255 an ounce. yahoo! reportedly hiring an investment bank to sell its pallet te patents. in march, yahoo! announced it would explore the sale of 1 to $3 billion of patents property and noncore assets. a new research report predicts the smartphone growth will only hit 7% this year. gartner notes this is down significantly from a 14% growth
that we saw in 2015. among the reasons, slowing replacements, smartphone penetration, saturation as they call it, as hit now 90%. in addition, gartner analysts suggest the new model smartphones they aren't changing enough that consumers want to upgrade them and buy them. now to today's look, the job opening report or jolts not measured in the nonpayrolls such as job listings and the number of people quitting their jobs about their employment prospects. as earnings from brown-forman, lululemon and restoration. india's prime minister modi is on a visit to the u.s. he will be addressing congress at 11:00 a.m. eastern time.
modi meeting with barack obama yesterday and attending an event with amazon's ceo jeff bezos. bezos announcing that his company would invest $3 billion in india. bezos calls india amazon's fastest growing region. in other news, ousted lendingclub ceo is reportedly looking at it as a takeover of the company. he left the online lender last month after a probe found the company falsified documentation when selling $22 million worth of loans to an investor. the stocks to watch. dave & buster's is raising its four-year guidance. the operator of restaurant and arcades said it did well, despite challenges affecting of its dining rivals. the chain is launching a $100
million stalk buyback. and oxford industries cutting its first quarter forecasts. the maker retail brands such as tommy bahama and lily said it was with apparel. verifone is cutting its outlook after weak results. the payment technology company says it's launching a strategic review that will likely lead to job cuts. verifone didn't give a time line but aims to save $30 million by 2017. >> verint who makes compliance and risk software is reaffirming its guidance for the year. down 1.25% today. shares of panasonic rising. tesla's ceo is working exclusively with the company to supply batteries for the
military which goes into production next year. duluth holding drop in extended trading, the maker of casual and work apparel. the sales fell 18% with an increase in website sales and attributes to its national ads and digital marketing efforts down 4.5% this morning. when it comes to cars, bigger may actually be better. shifting production plans. landon dowdy joins us. >> fiat, chrysler and ford are ramping up production of suvs and cutting back on smaller cars. detroit which makes impact cars such as the ford focus will shut down for an additional five weeks this year. they planned the shut down in chance to the slow demand for the cars.
we have about 42% of new vehicles chrysler has in the first four months of this year, compared to 21% in 2015. the government forecasts prices -- i'm sorry, the average is about $2.27 a gallon. this summer, that's compared to $3.60 in 2013. and to keep up with the trend, automakers are revving up production of suvs and trucks. ford plans the larger vehicles will be shut down for one week versus the other two. and the ford f-150 has been one of the best-selling vehicles. it may be the perfect car for to us take that road trip that we were talking about. >> i love how you say vehicle. i say it completely differently. >> i was thinking it might actually be good for you because it has the flatbed, wilf.
>> i'll drive. i have a lead foot. >> landon, thank you very much for that. still to come, the great brexit debate. uk prime minister david cameron and leader nigel on tv last night. the highlights and political implications coming up next. first, as you head to break, as you hear the music, the richal "ghost busters" opened. the film earned more than $500 million worldwide. a reboot will be released next month. wearing powerful sunscreen? yes!
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welcome back to "worldwide exchange," if you're just waking up, let's get you up to speed on the market action. yesterday, the dow briefly crossing to 18,000. futures in the value, the dow jones culled higher by 15 points. the energy sector leading gains on wall street and globally, with crude at highest settlement above $50 a barrel. north seed crude, that's brent as they call it with some gains as well. wilf. >> susan, thank you. ecb starts buying corporate
bonds as the central bank tries to convince companies to barrow and spend. mario draghi is looking to evade inflation in the eurozone. the record low this morning three bases points. the brexit vote fast approaching set for june 23rd. last night, both sides came out swinging, prime minister david cameron, and uk prime minister with the debate. >> david cameron, uk prime minister, and the party leader battling it out over brexit. and the prime minister telling folks that britain was, quote, a fighter, not a quitter. >> here's what really happens if we leave, of course, we still
want to sell into that single market, so we still have to meet all of the rules and regulations that brussels lays down. but we won't be at the table. we'll be like a company with our ear and face pressed up against the glass. i will say that's no way for the fifth biggest country to behave. we need to be in this organization fighting for british job us. leaving is quitting, i don't think britain we're quitters, i think we're fighters. we fight for the organizes for what we think is right. >> naggiigel farrage saying a b whatever to that. >> i think it's done for, frankly. i think the eurozone isay catastrophe. just look at what they've done to greece and those mediterranean countries. the migrant crisis is now not just dividing countries but dividing within countries
leading to a whole new brand of politics. the money's run out. and yet at the same time, they're saving up for the day after our referendum their an mou announcements about the projects. i want to us say we'll be good europeans, we'll trade ourselve. a happy europe will be a democratic europe with sovereign states and good neighbors. >> now, some of the audience may have fallen asleep. i'm not saying it's an important issue, but it was quite late. however, not everybody fell asleep. there was a last minute surge in would-be voters seeking to register ahead. and it actually caused the government website to crash just an hour ahead of the deadline. so i can till that both sides were affected by the default that happened.
but younger voters, of course, are more likely to register online. and these guys are going to want to remain in the eu than stay. this was a critical issue, perhaps the most exciting part last night. wilfred, it wasn't even a debate. they were talking separately. i wants them to talk separately. >> itv slightly twisted that by head lining it as a debate, didn't they? overall, julia, the official vote leave, they were upset because they weren't allowed to debate the prime minister and nigel farrage got in. will vote leave or stay in be more happy with that debate last night? >> i think at times they both presented fair arguments but the problem with both of these sides there's been a lot of untruths, a lot of twisted facts and figures. i think port average voter,
wilfred, either you're completely confounded by the two sides. for you're more educated perhaps you have a better understanding of what has in the implications you're a bit feathered. my theory is a lot of people are on the sidelines and still undecided even if they think that living in europe is the better idea. >> wilfred, if i can ask you guys your opinion on this, it's not a debate or argument. kind of saying the same thing that the eu is say broken archaic system. i think that's david cameron's problem in trying to rally or remain momentum. he's kind of saying yes, it's broken and yes, a bad system, what choice do you have? >> that's the point, if you go back a year and a half with the david cameron speeches he was saying exactly the same thing in justifying this renegotiation in the first place. he has to chain his tune and
post that discussion to go ahead with the referendum. it say tough one. i don't think anyone can deny that europe needs to change. there are fundamental problems with countries that use the euro and i think that's the big risk here. this refer reendum, i think tha the bigger question here for the markets and investors if uk voters decide to leave. >> julia, great stuff. thank you for joining us. meanwhile, chancellor george osborne jumping on evidence that investors are shifting on british assets. he said this is just a taste of things to come. this comes after banking statistics showed that 65 billion pounds were left to the uk or converted to our
currencies in march and april. however, this data was focused merely to march with only 6 billion in april suggesting it was just a blip. there were also no uk deposits. offsetting the 60 billion in sterling. 42 billion pound rise in foreign currency liabilities which may suggest the banks are simply hedging against a possible fall. >> also reaction as well. the six-year option on the 30-year was the lowest in history. >> in the uk? >> in the uk and dropped 30 basis points in a month. that shows you how scared people are. >> sterling is the main gauge. coming up next, some more on hillary clinton's historic night as she wraps up the democratic presidential nomination. we'll take a look at what's in
to politics, some big wins for hillary clinton putting her over the top once again this morning. she secures enough delegates to get the democratic nomination. bernie sanders meantime will be heading to washington to sit down with president obama. that's where we join tracie potts with the latest. >> hi, a report is out in "the
new york times" that he's lowered half of his staff as he heads into washington to talk about the future of the democratic party and his campaign. meantime, it is a big day for hillary clinton. she's now closer to shattering that glass ceiling that she talked about cracking eight years ago. >> the first time in our nation's history that a woman will be a major party's nominee. >> hillary clinton declares victory after winning south dakota, new mexico, new jersey. and as of this morning, she's leading california. she's earned a majority of pledged delegates now and enough delegates overall to clinch the nomination. but bernie sanders isn't giving up. >> we take our fight for social, economic, racial and environmental justice to philadelphia, pennsylvania. >> reporter: sanders won north dakota and montana.
today at sanders request, he meets with president obama at the white house to talk about where they go from here. in a statement, the president congratulated clinton for the nomination. >> to all of those bernie sanders voters who have been left out in the fold by a weak system of superdelegates, we welcome you with open arms. >> reporter: but republicans aren't welcoming his comments on the federal judge trump calls unfair because of his mex san heritage. it prompted senator mark kirk to drop his endorsement. actually, senator kirk said he thought those comments were racist and un-american. and he is going to vote for a write-in candidate come november. he's urging others to do the same. meantime, on capitol hill, bernie sand serioers is meeting
harry reid. >> he's focusing on the political debate than perhaps seeking the nomination. what do were think the mentality behind that is? is he a plausible running mate for hillary clinton? >> you know, it's a good question. it certainly would be helpful for clinton. the way it's unfolded, a lot of clinton supporters say if it had been a sanders victory they would be willing to support him. followers aren't too er of keen on clinton. if she's able to bring him on as a running mate or get a huge endorsement that would be help for her in unifying the party which would be a big challenge. >> tracie potts, thank you very much in washington. the roundup of the biggest market movers. don't go anywhere. you're watching cnbc.
good morning, breaking overnight, the world bank cuts its global growth forecast. we'll tell you why straight ahead. new this morning, hillary clinton celebrates history becoming the first woman to win a major party's nomination. her rival bernie sanders isn't backing down. clothing optional. not here. but a new restaurant in lovndon getting a lot of buzz. we'll tell you why.
it's wednesday, june 8th, 2016. you're watching cnbc. ♪ a very good morning to you in a warm welcome to "worldwide exchange" on cnbc. i'm wilfred frost alongside susan li in for sara. good morguning. >> let's talk about the world bank down from 2.9%. the world bank citing sluggish growth and low commodity prices and weak global trade with englished capital flows as they downgraded their view on global growth by half a percent. >> a little slow to the party. with the growth in weeks and months. let's get you up to speed with the markets. nasdaq slightly down. s&p and dow slightly up. we're been yo-yoing in the green
and red. the s&p by one point, the nasdaq by four points. let's have a look at bond markets, over recent days, of course, bond buying we're at 1.711% at the moment. big news in bond markets, the german ten-year which we'll get to shortly. and exports overnight falling on weak demand but imports on the other side of the equation surprising to the upside. meantime in japan, q 1 gdp was revised higher than the previous read. the economy expanding an annualized rate of 1.9% in the first quarter. japan's nikkei gained about 1%. that's mostly on the back of weakness. when it comes to european trade, early european trade, as you see, we're looking at clients
across the board. this goes against the big rally that we saw yesterday, the german dax up 1%. as you mentioned the story over the european side has to be in fixed income with a lot of flight to safety. capital flights to safety. the german bund yield going negative. and four basis points yesterday. >> yeah, not quite negative yet. a record all-time low of 0.03%. very, very close to going negative. ecb has begun purchasing of corporate bonds. but it is worth mentioning, as we come back to this, the german ten-year bond is back to zero. we need to remind ourselves of the dislocation that exists in markets where would we be without quantity tiative easing. and just reminds you are fundamentals driving it higher or false hope. the german ten-year, that's all
you got to remember. >> also makes sense that german bund yield has come down. we do have interest rates on the european side in negative test, of course. going deeper in negative territory. and the ecb has been front loading their sovereign bond notices. it's a good reminder of what the main forces are behind markets at the moment. let's have a look at broader markets. oil prices were strong yesterday. particularly since the end of the session. we settled at 50.3. of all the fed speak over the last couple weeks, all the expectations of what the fed will do in terms of that, it's oil prices that have been the main driver. year to date, only two remain
negative, health care and banks. and let's have a look at the u.s. dollar, not too much movement today. a little bit of movement around the edges as you can see the yen gaining 0.2%. the pound basically flat this morning. and gold prices a quick check in on them. slightly higher, 1255. now to today's calendar, the day when it comes to the data front there's one notable economic report. the job openings and labor turnover surveys, better known as jolts. this is not items measured in payroll. such as jobless and the number of people quitting their jobs. in washington, d.c. today, india's prime minister lmodi is on a visit in the u.s. modi met with president obama yesterday and attended an even with amazon's jeff bezos.
bezos is invests $3 billion in the country. bezos calls india amazon's fastest growing region. and apple ceo tim cook has been echoing similar sentiments in terms of what apple's prospects are in india. it's the darling, perhaps the way brazil and china used to be. >> i should point out when amazon wants to get into a country it kind of already has an amazon called snapdeal. it may be late mover effects for them. top trending stories, the new york daily news not holding back on what it had planned. it features paul ryan alongside a smirking donald trump with the words "i'm with racist." late last night, the paper went
to print with a new front page, this cover featuring the word "her" and a smiling clinton. it will the had newsstands while the other was released as an early edition. and the post with the headline "the first lady." coming off the hash tag that was trending. >> first lady, her tenure as first lady in the white house in the 1990s. now, she's the first female presidential nominee. how great is that? the top two trending hash tags on twitter are dedicated to harrisburg clinton a hillary clinton and bernie sanders. i'm with her and bernie supporters rallying behind the hash tag thank you bernie. as he moves on to the democratic convention in philadelphia, flooding twitter early this morning as well.
>> i hope he pulls out of the race fully. he's achieved so much. congratulations to #thank you bernie. i think if he hangs on longer, it becomes embarrassing. when people still hang on when it's clear they've lost it, it's a little embarrassing. >> and he's heading to the white house to have a meeting with u.s. president barack obama who is set to throw his weight behind hillary clinton this week. i think barack obama is going to have some words. >> that might be the catalyst. snap chat rolling out their new discover makeover. the new design swaps original icons for company logos for square icons containing an image and headlines. >> that's an area i haven't gotten into yesterday, the discover sessn. there's more to explore.
>> perhaps even a new restaurant. clothing optional. i think they did this for you to be honest. >> why, i've never ever done this. >> the restaurant is an undisclosed central location. it has bamboo renditions. the restaurant has a waiting list of 40,000. >> there's only 42 seats. >> not bamboo partitions and candlelighty. >>. >> i can confirm i'm not one of the 40,000 waiting. >> let's go to sports after losing to colombia last week, the u.s. men's soccer team placed in a must win situation. a defeat at the hands of the
costa rica would mean elimination. we head to chicago where manager clint dempsey is taking scoring in his own hands. dempsey would help set up two more goals. the u.s. goes on to a 4-0 victory. the fourth goal puts the u.s. atop of eu. and the next match is against paraguay. it kicks off later this week. >> not the world cup? >> we have rio 2016. >> not a big soccer in the olympics. let's talk the u.s. open. the u.s. open golf tournament tees off next week but tiger woods won't there be. in a statement, the 14-time majors winner says that while he continues to work hard on getting healthy, he's not physically ready for professional competition just yet. the 40-year-old woods had back
welcome back to "worldwide exchange." making headlines, police in oklahoma city said a judge has found no evidence that mcclendon killed himself when he crashed in march. authorities acknowledge that they may never know mcclendon's state of mind at the time of this accident. let's get to this morning's must reads for you and the stories capturing attention. i'm going to start with my pick, "the new york times." it's titled "what hillary imagines." writing like thomas jefferson, wouldn't you want to see his face? we all know how good jefferson was on freedom of speech and was
possibly the worst sexist in the very competitive group known as the founding fathers. it was about hillary clinton making history being the first party's presidential nominee. and they asked her in the past who would you want to go back in history and say, hey, look at me now, she said my mother, dorothy rodham. she was a woman who grew up with basically nothing trying to give her daughter the insight to say the sky's for you. >> and there's a whole list of -- >> susan b. anthony. >> right, expecting to be one of those, kudos, she didn't go for famous. she went for her mother. my pick is from the financial times it's titled "my british and european identities are intertwined." he said i'm scottish and british and happy to remain so. it's exploring the sovereignty
argument -- in fact, criticizing the sovereignty argument. there are three areas that the debate is centering around. economy, immigration and sovereignty. and he's saying those, he would discard one or even two of the claims. to emphasize the indivisibility of sovereignty. the concept of sovereignty dates from an era when the state was defined by its monopoly of internal and external coercion. it's well worth the read. >> one more article we want to highlight for you in "the washington post" it's titled why millennials are yawning at the likely first female major party nominee as president. it's written by molly roberts who just graduated from harvard university. she's an intern at the post. she's saying that millennials are highlighting hillary for
herself present significance during her husband's administration. the article says she's called too liberals. and today's millennials don't believe that she's actually liberal enough, believe it or not. and i should put up that hillary has garnered the female vote. 60% of the democratic caucuses and primaries have voted for her. >> particularly interesting to see what percentage that rises to. we're approaching the top of the hour. andrew joins from us new york with a look at what's coming up. >> you've got to let me play if we're going to do this at this hour. there's a story that i don't thing you guys talked about, microsoft sees cancer tip-off. it's a fascinating piece how microsoft through machine learning has looked into the searches that people but into bing. or google. to figure out the diagnosis for
pancreatic cancer before people know it. some searches relating to symptoms or other things could lead the search engine to tell you to go to the doctor much earlier than you might go. some of the questions and things that you might be looking for in your searches might seemingly have nothing to do with your health. but they've actually figured out what certain people are looking for. it's fascinating how we may move ahead with health. >> it sounds spurious. it's interesting but i'm not sure there are real facts behind that yet. are there? are they backing it up? >> they're backing it up with all sorts of statistically relevant examples of how it works. nonetheless, we're going to talk politics as would you imagine because what else is there to talk about. there say man for two hours that will only talk about politics. ken langone is going to be with us, co-founder of home depot.
this is a man who never really tells us what he thinks. i'm being sarcastic. in the 8:00 hour, we have gary johnson, the party candidate in the fray. those two and a lot of business in between. >> we look forward to "squawk box" conditioning off in 11 minutes' time. coming up the s&p 500 on a hot streak. the index hasn't had a decline for the last 42 sessions. we'll weigh in on the markets next. you're watching cnbc. first in business worldwide.
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nasdaq was below flat. europe today giving up significant gains it had earlier in the week. yesterday, the dax was down 1.6%. it's down 0.6% at the moment. let's have a look at oil prices because really they've been the key driver of markets this week. they're up again today having gained 2% on monday. 1.5% yesterday. they're up another 0.9% today. wti is up. energy is the best performing sector in the s&p year to date. let's discuss markets, and joining us is managing director and strategist at ameritrade. j.j., good morning to you. after the janet yellen speech on monday i thought we would have have that it would have been the driver this week but focusing on oil prices. >> we really are.
looking at the s&p 500, 2100 on the s&p, highly correlated. we've gone above both. it seems like we do have the momentum to go higher. to your point, the fed meeting is an afterthought in the fact that a june rate raise is down below 4%. let's face it, basically nonexistent. one important point that will come from the fed as you note, miss yellen on friday didn't put any dates around when a rate hike might happen. i think the most important point from a fed meeting will be listening if the fed committee clarifies any date. if you look at july, july is all the way down to 27% probability. it was up up 2 1/2 weeks ago. so it will be interesting to see what happens on that front. obviously, i know you've talked about the home country with the brexit vote coming up also. i think that becomes the next important data point for to us kind of look forward to. yes, we have jolts numbers
today, et cetera, but they just don't have the meeting that they had several weeks ago. >> people are buying safety, whether in utility shares or in fixed income. whether on the european side or here in the united states. i think people still have the mind-set of getting into safety, rather than going into markets. >> well, i don't know if i would necessarily call that going into safety as much as if you look at where people have gone, they got out of the dividend paying stocks a few weeks ago on the thought that i'm going to get higher interest rates from the fed or something is going to happen there. suddenly, the fed rate raise is not as imminent. i think if you look at the last 2 1/2 years, the overriding theme is where can i get higher yield. they're certainly not getting it in fixed income. as the population ages, it's important to get every little bit you can.
it just so happens that many of the higher paying dividend stocks are what we would qualify in safety stocks also. >> j.j. what about a tech exit, we saw names like apple have a tough year in the month of may. can we expect that to continue in june? >> yeah, i think you'll continue to see that until actually the next earning season. and the reason you're going to do so is because the earnings picture was a little bit muffled shall we say from the tech sector. if you look at the last two years it's been the shining star in terms of quarterly earnings. it's become stock specific. so i think if as you look forward on that, you'll see that pattern with the tech stocks, so much having to do with what's going on worldwide. the chinese slowdown, et cetera. that's a source of a lot of buyers of that. yes, we can talk about the potential in the indian markets, et cetera, but if you talk about the potential, that's truly all
it is right now. there just isn't enough wealth to overcome what they may be losing in some of the more established economies. >> very quickly, just to wrap things up, what's your expectation for the u.s. dollar given the recent movements in terms of fed speak? >> well, because of brexit vote i would expect the u.s. dollar to strengthen a bit versus the euro and the british pound only because of a little bit of certainty. we'll see what happens after that. you know, the one thing that the market hates overall and this may affect stocks going forward as we head into the vote is uncertainties. whenever you as a result to see uncertainty, you start to see selling. many of the folks who hold it right now, they're looking for what they consider short term, something that's less risky. it may be a temporary trade that gets unwound after the vote. >> j.j. thanks so much for jouthing jouth i
joining us this morning. ten seconds left in the show. oil prices, political fallout as well. that's it for "worldwide exchange" this morning. thanks so much for watching. "squawk box" is coming up next. ♪ ith a hunger to fly and a passion to build something better. and what an amazing time it's been, decade after decade of innovation, inspiration and wonder. so, we say thank you america for a century of trust, for the privilege of flying higher and higher, together. ♪
good morning, history for hillary. hillary clinton becoming the first female presumptive nominee. but still no concession from bernie sanders, all while donald trump tries to court sanders supporters. crude hitting an eight-month high. back around $50 a barrel. stocks inching higher. couldn't hold to the gains yesterday, dow trading over 18,000. the s&p closing in on record highs. and a tigerless u.s. open now. tiger woods will miss another major. it's wednesday, june 8th, and "squawk box" begins right now.
♪ >> announcer: live in new york where business never sleeps, this is "squawk box." good morning, everyone. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernin and andrew ross sorkin. and the markets, turning its focus back to oil prices as wti finally topped the $50 mark on supply concerns. you can see prices are sitting for wti at $50.82. brent actually sitting above that at $52 on the nose. we'll continue to watch this through the morning. in the meantime, let's also take a look at u.s. equity futures. once again, you're looking at green arrows. markets continue to march steadily high. dow futures up 18 points. s&p up by 1.5 and nasdaq