tv Worldwide Exchange CNBC March 13, 2017 5:00am-6:01am EDT
good morning. oil prices trading near three month lows. the markets brace for a possible interest rate hike from the feds and a critical brexit vote. everything you need to watch straight ahead. >> wall street's top cop was fired over the weekend after refusing to quit. latest coming up. it is march 13th, 2017. "world wide exchange" starts now. ♪ i can't feel my face when i am
with you ♪ >> along with courtney regan. good to have you with us. let's get straight to the global market action. >> let's get trait to where we will start off as we indicate ahead of the official market. the nasdaq applied to open flat and this is after we saw the embassies close slightly higher on friday. all indications are forward looking for that fed hike this coming week andts to the rr sort of where the market is really focussed. that of korts bal psing what we could see with the political uncertainty out of europe on a couple of different levels and events coming up there. as we could take a look at what's going on with the tenure. we have pulled back from that 2.6 plus level that we saw on
friday. still, if you're sitting at 2.657, very interesting to be able to watch this when we're expecting 90 plus certainty that we're going to see a hike. >> and they still ended the week higher than they had started but thursday afternoon and friday they came back again after those highs. as you rightly say the real expectation is not so much march's hike but in terms of what we'll hear whether we'll have two, three, four hooiks throughout the rest of the year. in terms of the equities performance, we did see profit taking. s&p and dow down about half a percent. negative week overall. something to keep in mind. nothing too significant. >> really did start this
downward trend and they were saying that was causing him a little bit of concern. i think we are down about 2% for the week. >> and there's a good write up on that. there's risks to the down side. some data overnight from asia. fell 3.2% in january. they're viewed as a leading indicator of capital spending. meanwhile, jap ware whole sale prices rose 0.2% month over month. we did have the nikkei up last week. today, as you can see across the board, it's not just the fed meeting, also bank of japan and england and swiss national bank and nordic national bank. most notably for us, the fed and the bank of japan. al let's have a look at european
equities. we did see profit taking. europe had been on a decent run the prior week. last week we saw the dax down about half a percent. we just ticked into green territory for all of the embassies in the last half hour. burt the gains very slight around 1/10 of 1% for germany. >> starting with oil. this plunge is really quite interesting. 9 to 10% from last week into right now. we see wti below 49%. but still we're looking at the value below $49. still hangs on to the 51 handle. but hitting three month lows. inventory at record highs. so we could be set here to drop for a sixth straight day if we hold this sort of action
throughout the session. very interesting move in the price of oil as equities tend to be following this as of late. if we could see -- >> i'd say equities definitely following oil prices. >> real estate. >> and i think both in the fact of rising yields and oil prices slipping, you'd say equities are somewhat resilient. all important 2.6% level. we lost some gains. half a percent though. nothing too serious. >> let's take a lock at the dollar. we saw weakness in major currency and euro hitting a one month high after there was a report that they raised the question of possibly hiking
rates. didn't receive strong support. still, we did see the euro move on it just a bit and the pound is stronger against the dollar. >> big move in the dollar on friday. significant move to the down side at the end of the week. that wasn't so much of a surprise because we did see the rise up in yield slip up a bit. net enected the week and that to effect of the dollar was that it was down about 0.3% for its first negtv week in five. how much is already priced in, in terms of the rate hike? it seems like the dollar's already helping the fed meeting coming up this week. final thing, gold prices sliped sniff skntly.
nine straight down days for gold. gold price down only 2% last week. it's not quite hit that 10-day losing streak as prices are up 0.6%. the sheriff of wall street is out. he was fired as the united states attorney after he refused to resign. he had met with then president elect trump and jeff sessions. >> the president elect asked, presumably because he's a new yorker and aware of the great work our office has done, asked to meet with my to discuss whether or not i'd be prepared to stay on to do the work as we have done it, independently, without fear for the last seven years. we had a good meeting. i said i absolutely would
consider to stay on. >> but late friday the justice department issued an order asking all u.s. attorneys to resign. lesley, good morning. >> reporter: good morning. bharara took on critical corruption. but a key tenant is around an unprecedented string of insideer trading cases. since 2009 he filed 111 trading charges -- insider trading charges. 89 resulted in convictions. success rate of about 80%. raj was given the longest ever sentence for insider trading in history as well as sav capital, which is a hedge fund fined 1$12 billion. now the court rewrote insider
trading rules in 2014 dealing bharara's office a blow and overturning several of his convictions. but this past december, a supreme court melted the chill over insider trading cases. and he appeared to be back in business, as least until this weekend. critics of his believe he was too aggressive in handling insider trading cases. ianic has an ongoing civil case over a raid six years ago which caused the hedge fund to shutter. he said quote i am hopeful that a new u.s. attorney with no lipgs to the wrungful 1u6r7 of my office will finally hold someone accountable and will explain why a false affidavit was submitted to the court.
and joon h. kim will survl. they will post pone their settlements until a new director is named, guys. >> a lot of headlines, politicalization about this since he had been fired. is that something he's encouraging and what could be next? >> it's impossible to know what's next in terms of his career. we had tremendous careers it's difficult to know exactly what transpired at this point between november's meeting and the events of the weekend. but it's clear that this is not the last wleerl see of bharara.
>> the statement of look, i didn't resign. i was fired. why would high make this point? is it so he can lay the foundation for political campaign. >> by saying i was fired, he's making it very clear this was not at his will he is stepping down. this is something that was not his choice. this is different from what happened in november. he's definitely setting himself up for some sort of political ambitions in the future. the fed begins a two-day policy meeting tomorrow np central bank has been doing a good job and the trumped a min spration respects the feds' independence and that they will keep wirking to reduce bear
yariers. >> to tech news. we've heard a lot about amazon's plan for delivery. live with all the details. >> amazon unveiled the prime air. the delivery drones are on disbli in auns texas, urv, hoy won't bow delivering any virten dice to the crowd. u.s. reg ylz require said to the pet to remain in its line of sight. and the m tet tooirs a man. and this has a insuring it doesn't have any run ins in the sky and allows for more accurate drop offs. for now they're not clear for delivery in the u.s. they have an agreement in the united kingdom.
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shaping up around traditional party lines. there is a big populous aspect and an anti-eu aspect. in fact the anti-eu party for freedom is likely to win the most seats. and vildes is probably the most extreme. he stands against islaislam, immigration and his slogan is make netherlands ours again. while freedom may become the largest party, it's unlikely to win more than thaurtd of the 50 parliamentary seats. they have ruled out cowligz freedom. thus, it's highly unlikely they would become prim. the pro eu and the three ahead
of wilders are pro eu. most suggest it would be close. but an eu out referendum is not expected given builders are likely to be excluded from coalition discussions. big focus on wednesday and it's hard to see much progress in terms of things like yurmen assets. there's so much going on in europe. tempers flaying over the weekend. accusing the dutch government of behaving like nazis. this after he stopped him from landing for a rally and escorted him out of the country siting risks to public orter. this ahad edof the election in which immigration is a major contention.
>> and this has helped wilders in terms of the polls. the trend has seen him slip a little bit. but this has been opoffset because of this turkish immigration story. the brexit bill will be voted on in both houses today. the uk government could trigger article 50 as early as tomorrow. and he may be calling for a scottish referendum as early as today. sturjen doesn't have the power herself but can create a lot of pressure. and i say as well as the bank of england meeting was a lot of potential risks against the british pound and the question is waults rr already been priced in. it's almost certain the bill will get passed and so article
50 will be invokedper haups as early as tuesday. the question is do we see a weakness in the pound off the back of it? certainly a lot of political headline. and which teams were chosen on selection sunday. and get you ready for your fox office bracket. but ninety-firfirst here's national forecast. >> good morning. today is your day to stock up and prepare for quite the storm that arrives late tonight into tomorrow. we're dry but kwoeld in new york. our winter torm making its presence help. it's been a whale. meanwhile, it's all about the rain showers, wuving across the noult.
and noim in the mile high. 62 in denver and another system working into the pacific northwest. bringing the rain drops to seattle. it is hot in the southwest. over towards phoenix as well. otherwise, it is very cold across the northern tier of the country. hello, my name is watson. i am helping 8 million taxpayers get the largest refund they deserve. one million people can benefit from precision cancer care. 197 million passengers can fly with less turbulence. i am on my way to working with one billion people. i look forward to working with you.
exchange. last week we did see profit taking. about half a percent for the week as a whole for the s&p and the dow. the nasdaq did relatively the same. either way, as we look at things today we are down in the free market but only fractionally. oil prices was the big story of last week. we were down over 9% for wti. with that in mind the declines in wall street should be framed as that of resilience. we're down again for wti. in and around these levels on thursday and friday -- in fact, we're still doing all right. 48.3 the price. the other question of last week is really a story of resilience
in the face of nif skntly increasing yields. the often noted 2.6%. we seen things drop 6.5 prer. so the yield cut going back up this weekend. resilience in the equity market. thank you very much. now let's take a look at this week's economic agenda. the federal reserve will take center stage. we'll get a policy announcement on interest rates followed by a news conference, janet yellen. foorm we get the consumer price index. thursday housing starts homeilous claims and on friday kormeral produkds. the season largely over.
oracle urest thirst. tiffany, that one i am going to be quite interested in. toshiba denying the daily report that it was looking to sell its shares in t.c. as it looks to overcome a billion dollar write down. shared u7 in japan today. they're creating more than 2,000 customer jobs enthe home mark president trump. and british home builder with this trying. reminds it's negotiating about a possible deal and rejected a proposal from a another suitor. hsbc, and aia tucker as
their chairman. he left his role to take over hsbc. now to sports news. the setting is set. villanueva, kansas, and tourname tournament. >> are they have a chance at winning? >> not the whole thing. you know they made it very far. they made the to the elite 8 in 2014. my grandpa regan played on the team and he's 85 and never
national bank. the sheriff of wall street is out. arrefusing trump's call to resign. plus, there's a dutch election this week and global investors must not be talking about you. you're watching "worldwide exchange" on cnbc. ♪ good morning everyone. welcome to "worldwide exchange." good morning. >> happy monday. >> rets rr get straight to the global market action. earlier this morning we were flat to slight to unchanged and just slightly. on the lower and until we actually hear about that very expected interest rate
heek. we did close slightly higher for friday last week. over seas to see if that's dpoeing to give us an indication of what's going on. nikkei with hire with several economic data points. if you take a look at this oop whole, you could take that and for the most part,ets for r higher anyway. france is only slightly lower and the rest are hanging by a hair. assuming, which is the expectation that the final brexit will get through both pouss of congress. 7:00 p.m. teern time.
as early as tomorrow but it will be the big moment all of the devimnts in the past weir and the more up exwekted development is giving a peechb and she's go start by another scottish referendum. lots of happenings in europe. >> and speaking with president trump. >> we have the swiss national bank as well let's have a look at board bor prices and continue that slide this morning,all be it only thrice of wup 1 wer.
48.44 in twrks wee, but perhaps you might frame it as saying we rill be resilient. since late thursday the yield slipped back. all eyes of course on theal but the guidance and extechitations for the number you can have the rest of the year. as the yield slipped back down from the 2.6% and was in negative territory for the week as a whole. had was hesh hirs neighborhood. thp pound baunsing back. otherwise the dollar is gone.
oil price fors boundize offo elfw fwoo you have no lid. moving on to the top story. wall street's top cop refused to resign. here live from washington with all the latest. >> reporter: good morning. so here's the time line as we know it. on friday they issued a dpekleration telling them they aught to submit their reg reg musugnishz because he felt he had a deal with the puns of the united states and with the attorney general to stay on. so he did not and by saturday,
things came to a head add 2:30. it's time for them to go. and they sort of fanced around the ipth of a of whether he was being vared or asked to resign. not a lot of legal distinction there. he asked venti kw he was go toing fires. you are being asked to submit your resignation. and said i did not resign moments agei was fired. being the u.s. attorney in the futhern district of my never live. and another nitdm now i know what the moralen commission that was set up by governor cuomo in
new york. he may be implying he was shut down before he could finish that work. a a frar from from at trump tower back in november just after the election. >> president elect asked, presumably because he's a new yorker and' and asked to meet with me to discuss whether or trault. t to the work as we have done it partnership for the last seven years. we had a good meeting. i said i would absolutely consider staying on. i agreed to stay on. >> so that was then, this is now. now questions swirling about what he does with his future.
does he knowome fortime the people in new york are speculating about it and the people in the trump ayes min stragd mot guthering anybody in i think this is is. >> i then, the surprise from the help the than tack tham democratic and republican have done this in the past and put in their own team. tib claw there's a transition sear would. but this is a common wist fracts. first priest thought he was being carved out and kept on.
and focus on who replaced all of these out boens aefs fep tow it pope going feem. president and it but nablt pam pim. >> you would manl any cases thatd are goneeinging bp we'll tol make their own judgments about the viability of any case that's ongoing. all of that is up in the airs the new person would come in and figure out what to do from here. so a lot of question marks out there. >> he said it would be forever his most proud professional job. unless he takes a political job in the future with a high
profill pop senator might be another one. although there aren't any who appear to go and he's somebody who has been fiercely inter. and he's not ne necessarily a lit plilical animal. >> live in washington. moving on. time for our top trending story. the actress starring as ivanka trump in an advertisement for a perfume called complicit. >> and a woman like her deserve as fragrance all her own. a scent made all her own because she's futeple, powerful, she's
complicit. >> i'm going to leave the commentary alone. >> i hadn't seen that one. >> you hadn't? >> no, beat rirt nice no you're focussing on the studio. al had hm et sheeran joining "game of thrones" season seven. they've been trying to get him on the show for years. details surrounding the singer's role haven't been released yet. notopely does it seem like an odd fit but they've been trying to get flim year said. >> i don't know what character he's going to do and with it or
not. >> but you want to pinch all of them that same 250i78. ssgb. a for anyone looking for a different nonamerican series. , tyra banks being crowned the new host of cnbc's america's got talent. is silen call part of the show? >> that's just how he it but i think that's right. i think they're great. >> they are. well, coming up today's must
there's always something different to do like skiing in the winter, jet skiing in the summer. we can do everything. new york state is filled with bright minds like samantha's. to find the companies and talent of tomorrow, search for our page, jobsinnewyorkstate on linkedin. welcome back to "worldwide exchange." my pick's from the guardian.
it was important enough i thought to bring it up today. it's by the founder of the internet titled i invented the web. here are three things we need change to save it. one that we've lost personal control of our data and too easy for misinformation to spread and political advertising online needs transparency. doctor'sing issued which are front and ceptor for lots of dirant reasons. and how this needs to change to breng back pam and perhaps in the wrong way. she had these ready for you over the weekend. >> but really a good source of
information we can count on. >> and nice to remind everyone that the internet was created by a brit. >> my pick is in the wall street journal titled crime and immigration. writing but there's no evidence showing that immigrants create more crimes than yoousz set zns. they exflaped 200 neat frupallten kwlaer yeahs and laefrs. fratss inkreeszed. a recent analysis of 50 studies published between 1994 and 2014 showed that higher immigrant populations have lower crime rate. and the way trump brought forward that have been victimized nobody was.
there's good statistics femp.top fv ged getting ready for dwrierk fem good morning, joe. >> al gore didn't invent the intern internet? >> yes. >> i see stuff in the guardian that is -- i mean -- anyway. he did invent global warming. he didn't invent the internet or his room. but for a supreme court decision. you know what he did invent? the lock box. >> i don't know what a lock box
is and in fact, i could do it. and i saw an eye role mr. there's a lot of things. so that will last until this is. i mean, we are going to be -- could beench inches. well, we're ready. and a form in the financial market with the fed. there's a lot of european politics this week as well. >> i like to see teresa may seem said like she could invoke article 50ads early as tomorrow. >> good for her. the sooner the better. ken langone is on for two
hours. people love when he comes on. where are you going to put him. prrs anyway, he's what do you call it? he's an american treasure. and health care. than, that makes me nervous. i toept know who's nor an mitted fens it mow hoar how 307porous and we're pull thg rug and pulthsing granny off of a kblif and everything else. a beautiful way of frameing it, joe as ever. >> they talk about paul ryan and place granny off the cliff. we look forward to mr. langone.
>> it speaks vol50u78 said that you read the guardian. all of them coming up for you in 10 min lts time. but still to come, a bidsy decision to get you back in the thaning and stay tuned. you're watching. fwrrs ♪ we're drowning in information. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person,
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because the ones who truly change the world, are the ones who can't wait to get out in it. . welcome back to "worldwide exchange." futures slight slightly low. joining us to discuss the markets, wealth management at world wide trust. so of korts fed is front and center this week. to bhautd extent are they ready to take a rate hike? >> frankly embraced. i think investers are recognizing that the fed is
raising things for theroid height. retser say we saw geal fr yoem yoem squl gems what is driving that and i can't see the key factors. woe have a lot to dijust this week. there's lot going on. er for i do think there's a heavy bid for treasuries. and they're waiting out what's happening in europe and some of the other big risk issues that we have. but we think 10-year rets are going to be higher than here. once we get past lots of demand for treasury.
looking beyond this weepg and how men ea were you advising clients. again, our 4 cast for cloibl growth and in fact months. bit ultimately that's going to be good for risk asset market. u.s. high yield and recently emerging rate, high equities. improvement. our own ring. >> we're neutral on europe and something we doumg about quote a wiet. that's keeping us on the sidelines right now. for we sear ailate of heytop
fnlss it here until some of the political issues get worked out but we're neutral. >> pletical risk aside, is this long-term trucktural issueses. the global growth engine. and the groith is coming out of the it it it? we're actually very fortunate because we have global growth and u.s. growth momentum. we've had a little built of positive action on the
regulatory front and that in combination of going to teep enough to get some of the otherer yiskal, stimulus. tlez are foeing to have to come. because we have good nendmental right now. yes. a risk to the positive base case is the fact that she wants to get quicked down the road. wheret ultimate lethey doedent eve. get done. i also realled your son 1 again moment. i think they should make a film about this interview as well. that's spell binding. >> how about rag snn. >> there we go. we've now really run out of
time. that's it for "worldwide exchange." "squawk baukts" is pup friendship brrs i have access to the oil markets and gold markets. okay. i'm plugged into equities- trade confirmed- and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do. visit learnfuturestoday.com to see what adding futures can do for you.
good morning. you're fired. president trump asking federal prosecutors to resign. and bharara was fired after refusing to submit a letter of resignation. remember we were at 10% saying why. now suddenlyt it's a done deal. and bracing for a blizzard more than a foot of snow expected. from my bab and rir eepd moechb tlaerp pt.
frrt for my marriage, beautiful wife. "squawk box" begins right now. snoelts. live from new york where business never sleeps. this is kwauj baks. >> that didn't go out. >> good morning aerv pdy. s the rr hives to the thap hof fen if other foye. er and it was 3:00 in the morning. down by about ninety-four moints and that picture she she was and up by over 1%. it was up by about 3 kwartz of a