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tv   Worldwide Exchange  CNBC  January 29, 2018 5:00am-6:00am EST

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markets now. wall street kicks up a new week with a big focus on earnings, the fed and president trump's state of the union address the fallout continues. steve wynn stepping down as the rnc finance declare. we have the latest ahead and walking free, saudi prince alwaleed bin speaking out. it's january 29th, 2018, "worldwide exchange" begins right now. ♪ move what y'all trying to do ♪ good morning a very warm welcome to "worldwide exchange. on cnbc. i'm wilfred frost.
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>> and i'm courtney reagan in this morning for sara eisen. the last night's grammy awards this is bruno mars' 24 karat album. took home the album of the year. but i hear he won basically the award. >> he was basically the big winner in once again it was a politicized ceremony we'll definitely have the highlights checking the markets, coming offer the back of a strong week. the s&p and all three indices were up more than 2% for the week as a whole. we talk about a big start to the year, it's also been a broad start of the year on friday, and all of last week, all 11 sectors were positive with s&p month to date, nine out of 11 are high it's been a great start to the year and last week was certainly part of that this morning, we're pointing only slightly, the dow by 17
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points s&p by 9, nasdaq down by 30 ten-year treasury note, yields ticked up at the start of last week and pulled back with the yen. back higher this morning 2.781 yield on the ten-year. let's take a look at what happened overnight on asian equities as you can see mostly lower across the board the shanghai composite down 0.5% overnight in china there was reuters report that an official in china national development and reform commission wrote an op-ed basically saying that a black swan or gray rhino event, high-impact event was likely to take place this year that spooked some markets overnight in asia. things started out higher and as you can see ended lower. let's take a look and check out the early action there was action with the dollar/euro last week. right now, you can see that
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markets are mostly lower across the board. we do have the german dax about 0.3% and spain's ibex down >> and wti up 66.1 gold prices down on friday but still up 1.5% as a whole they benefited from that weaker dollar and 1345, for gold currencies, the dollar a big, big focus around the world last week. ended friday down 0.3% for the week, down 1.6%. as you can see, the euro is weaker against the dollar. the pound is weaker. the dollar slightly against the yen. euro at 124. the pound at 141
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let's round things up with bitcoin that we've been watching very closely since the fall here got a mixed picture on the different exchanges that we look at for bitcoin for the futures are higher the cboe and cme are contracts are higher by 2% and 2.5% respectively and coin base down 4.4% sitting down around the 11,000 mark across the board it's a busy week fog personal income spending and tomorrow, the consumer confidence the fed begins a two-day meeting tomorrow the final meeting for janet yellen and the fed chair on wednesday. and then on thursday, q4 productivity, ism manufacturing index and january auto sales that's followed by the jobs report on friday with consumer sentiment and factory orders this is the busiest week for
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earning seasons, ten dow components will be reporting among the highlights, apples facebook, alphabet and amazon. a big tech week. we'll also hear from microsoft, boeing, chevron, mcdonald's, at&t, mastercard and visa and u.p.s. and the fallout over steve wynn and the allegations of sexual misconduct. >> wynn resort ceo steve wynn resigning. this follows an expose accusing wynn of sexual misconduct, calling the allegations preposterous the mogul was hand picked by president trump for the rnc finance job. no word on who will replace him. while making a statement the work we are doing to make
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america a better place is too important to be impaired by a distraction. shares of wynn off slightly 0.1% >> landon, thank you for that. that comes after a massive decline, and quite surprising actually the extent of the fall. clearly, steve wynn is a very important figure for that company whether macau or stateside. the size of it quite a surprise. clearly, he's not going to be someone around for counted coun decades given his age. turning overseas, saudi prince alwaleed bin talal is speaking out this is quite a story. cnbc's hadley gamble joins us with more. >> reporter: well, details are finally beginning to emerge from
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prince alwaleed bin talal's stay he gave a tour of his rooms before he checked out. he basically said there was going to be a financial settlement with the saudi government that's according to this reuters report but no details have yet emer emerge. >> there are no topics there's just discussion. but rest assured this is a key operation that we have and we're just in discussion with the government on various measures and that i can't divulge right now because we're in discussion with them. but that's the whole story i'm in my country. i'm in my city no problem at all. >> reporter: now, the saudi officials that i spoke to last week are telling me they're very interest ready to close this file in terms of this anti-corruption probe but there's still outstanding
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questions about who is involved. especially but the foreign economy and questions of saudi arabia, all of this as the saudi officials say they're about to kick off a road show for the month of february basically inviting foreign investment in saudi arabia certainly, the saudi officials telling me last weekend in davos that they're very excited to get on the road, guys. >> hadley, thank you for that. quite a turnaround for prince alwaleed in the last week sore so some stocks to patch, sanofi striking a deal to buy bio-tech firm ablynx, about a 21% premium on friday. the deal comes after a lower offer from novo nordisk. and group of investors calling on avon products to consider putting itself up for sale "the wall street journal" reports the group which owns a combined 3% of the company plans to send a letter to the board.
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they believe a multiyear long effort to turn around that brand has failed and requires new leadership it's up 2.5% >> the head of ford china's division has quit after just five months on the job, citing personal reasons his departure is a blow for the auto leader. ford china sales fell 6% last year, compared to the 3% rise for the broader industry overall. still ahead on "worldwide exchange," the big business of bots plus, more important than fire, that's what google ceo is chlling his red hot part of the te world we'll tell you what it is when "worldwide exchange" returns any object. any surface.
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it's a new kind of network designed to save you money. call, visit, or go to welcome back to "worldwide exchange." if you're just waking up, let's get to speed on the market action pointing low the dow by 35 points it's quite a marked improvement in the last 20 minutes or so, we're down about 70 points we're expected to open low, but not quite as earlier treasury yields seeing yields rise a little bit this morning. question got up to 2.7 on the ten-year 2.714 on the ten-year. >> more stocks to watch. roche has won the break smdz through label for the drug tour autism it's expected to seek approval
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sometime after 2020. and google is making its first investment in an asian ride-hailing firm. it's participating in a funding round for indonesia go-jek go-jek is backed by jjr. and deutsche bank to hike by $20 billion. the german newspaper reports that amid another lower of lower bonuses could push to defect to more higher rivals that's an interesting one. >> it's relative to where they were they had zero bonus the last two years this is the year they promised it would go back up >> so to keep your their promise? >> yeah, the biggest news came from deutsche three weeks ago. and a surprise in improving environment for banks globally but in particular the economy in
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europe but, you know, the bonus payment fact is already something that's fully expected that they have to pay people this year or else they would lose more stock the trump administration is considering a takeover of parts of the country's broadband network, documents obtained by axios suggests that the u.s. needs to centralize its next generation 5g network to prevent china from spying on mobile traffic. the plan that the u.s. would build and pay for 5g and while its providers would rent access. at&t tells axios that it's well equipped the ceos of google touching on everything from politics to extremist content. also talked about some of the big concerns here's what google
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ceo sundar pichai had to say >> we just don't think it's ai it's working on multiplicity and fire >> fire? fire's pretty good >> well, they learn to harness fire for the benefits of humanity but we have to overcome its downsides, too so, i think it's fair to be worried about ai we're saying this being optimistic about it. we want to be thoughtful about it >> the ceo addressed extremist content on youtube here's what she had to say >> we have always had policies on youtube we call them community guidelines and we have always enforced those community guidelines with people, what people do they flag their content then we review it with people and then we take it down what's really interesting, and
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what's an important development this year is a lot more concerns using machine learning to actually identify and find those videos and have people review them afterwards to take them down and we've actually become much more effective now that we've actually started deploying machine learning in addition to people so we're ramping up both the machining technology, as well as the people, 10,000 people who will be helping us with controversial content across our platforms. >> it's such an interesting problem. of course, it's sort of like being a bawhac-a-mole in some cases where they have users and then it has to be flagged and taken down and it can help as long it's as used for good. >> and the chiefs coming forward, with the similar hiring it's a question for companies whether it's too little too late and whether there's enforced regulation to come in years ahead that will impact their
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bottom lines more meaningful clearly, there's a way for an opinion moving that directio but it takes a time to see lawmakers really deliver either way, the costs are being hit a little bit, but 10,000 workers isn't much to google or youtube. coming up, a company that sells twitter followers likes and retweets for people looking to boost their popularity online an investigation finds a "the new york times" report by dev m devoomee those who bought twitter followers including a might range of people including michael dell and kathy ireland the statement says it violates policies and working to stop them the surprise in a story over the weekend is that this is news so many people have fake formers. >> oh, yeah, it's pretty
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obvious. >> for twitter's response this is terrible, this is against our rules, we're going to stop it, i mean, i actually assumed it wasn't against their rules because it's such commonplace. that people know it's well-known a lot of people have 6 million followers or 600,000 are half a fake i thought that was well-known. >> it's been addressed before. but this is the first time it's come up. but yeah, i agree the response is interesting it's strange that they didn't sort of suggest, yes, this is something that we're working on something that we're looking at for some time. >> it undermines the credibility of twitter that likes and retweets could be fake but it's not an illegal or terrible thing, which is why i'm surprised at the level of surprise people have to this >> more of that ai at work to tech, amazon is showing off its new digs the company is set to other than the new centerpiece of its $4
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billion operation named spheres consists of three dome structures with a mini rain forest 400 plants from species from around the world it has spheres where people can just relax who knows whether it will be like a roller coaster inside >> by the way, it's getting a lot of focus to their expansion. streaming companies will soon have to pay more for music. authorities died to increase royalty payments the change will take effect over the next five years. you can see more reaction to some of those companies in the month, but nothing too significant. and the tech that everyone is looking at. the boring company unveiled its
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flame thrower and he's sold $2 million worth in 24 hours. the device costs 500 bucks and it's available for preorder now. what in the world. >> it looks fairly dangerous >> yeah. what do you do with this >> i wonder what the procedure is to that, to buy that? can anyone just buy it >> i don't know. >> anyway, more on that to come and other stories after the break. we're in washington to watch the countdown to president trump's state of the union is on as we head to d.c. but first the national weather forecast from nbc's bill karins >> good monday morning to you, wilfred and courtney a soaking rain in the southeast is greeting us this morning. just in the areas of the carolinas. a little more to the northeast this is quickly exiting during the day and will end the landfall in the mid-atlantic region and a little bit of storm will clip surgeon new england we'll get snow south of boston,
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cape cod and then snow showers maybe an inch or two from erie, buffalo to rochester but the big story this week, the return to winter the january thaw is just about over the cold air coming down from minneapolis and into chicago as we take a look at the week ahead, we're watching a lot of quiet weather across the country. but the temperatures will be the story. by the middle of the week, we may see a little rain and snow r fothe east coast but as of now, not a big story that's it for the forecast more "worldwide exchange" when we come back
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welcome back to "worldwide exchange." let's get you up to speed on all of the market action on this monday morning futures are pointing to a lower open dow jones industrial average if it were to open now, it will open up by 7 points and nasdaq 28 the forthstraight week of gains for the dow, s&p and nasdaq. as well as as the russell 2000 doing really well on pace for the best january since 2013. we haven't paid as much attention to the russell small caps recently but certainly something to point out take a look at the price of oil, pointing down just a touch for wti, still hanging on to that 66 handle and brent crude down by 0.6% >> the countdown is on to president trump's first state of the union address. let's get to nbc's edward
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lawrence on what to expect >> reporter: the president is going to be talking about immigration among other things we're going to be hearing a lot about immigration over the next two weeks as congress tries to make a deal. president trump has given congress a deadline of february 5th for an immigration plan to come to his desk any plan would address protecting undocumented immigrants brought to this country as children known as d.r.e.a.m.ers. >> to solve this problem, we're going to have to have compromise no one's going to get 100% of what they want this solves the problem long term. >> reporter: some democrats are making a deal, adding the democratic base needs to get on the same page. >> i think the president did the right thing by laying out where he wants to be where he thinks the starting point is we've got to decide, do we want do go large, medium or small >> reporter: the president said he wants funding for a southern border wall. and changes to the u.s. and an end to the visa lottery program. in exchange, he said he would
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sign a bill giving so-called d.r.e.a.m.ers, a bapath to citizenship. >> those here, we should not be giving a path to citizenship it's wrong >> the bad part comes with the idea of the wall which i thought was a great idea in the 15th searchtry when china built the great wall not so smart today >> reporter: a long way to go in a very short time. and democrats should shut down the federal government again because if there is no deal, the federal government runs out of money on february 8th, wilfred, courtney >> edward, thank you very much for that preview of all of the going ons in washington. well in other political news, officials from the u.s., canada and mexico are expected to complete the sixth round of nafta talks in montreal today. another round of discussions is expected officials attending the tox over the weekend were said to be
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upbeat about the progress. still ahead here around the morning headlines, the check of global markets >> later, the hilitsghgh of music's big night at the grammy awards when we come back because i'm retired now. so? we're voya. we stay with you to and through retirement... ...with solutions to help provide income throughout. so, you'll still be here to help me make smart choices? well, with your finances that is. we had nothing to do with that, uh, tie. or the suit. or the shirt. voya. helping you to and through retirement.
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a big week ahead, earnings, the fed and president trump's state of the union address all front and center as we kickoff the new week and fallout with steve wynn, we're live in macau with the
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latest and music's big night with the grammy awards. it's monday, january 29th, 2018. you're watching "worldwide exchange" on cnbc. ♪ good morning, a very warm welcome back to "worldwide exchange" on cnbc. i'm wilfred frost. >> and i'm courtney reagan in for sara eisen today, we're playing songs from the big winners from last night's grammy awards. this is ed sheeran's new song from the album "divide." probably one of the ones that didn't go to bruno mars let's take a look at global markets. take a look at futures which are indicating a slightly lower average. the dow jones off 35 points and the nasdaq 24 points friday in the day, new record highs for the dow, s&p and
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nasdaq also up for the fourth straight week for all of those averages so, so far, it's been a banner year for the bulls take a look what's going on on the yields for the ten-year. we're at 2.7 earlier in the session. still holding there, 2.71 for the ten-year that started ticking higher after the slightly disappointing gdp number on friday and asia markets for you, hong kong, could end up 10.7 today. giving up half a percent or so today. but still up 10% japan suffered a little bit last week because of the stronger yen. it's flat this morning down 0.75% last year and the ftse and german dax trading lower because of strong currency france is flat and germany and france lower, ftse 100 just higher
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let's round things out with a quick check on what's going on in the energy market we do see wti and brent crude are slightly lower to start the session after ending the session higher on friday to round things out take a look the agold which ended friday down .08%. a busy week ahead, look for today personal income, tomorrow, case-shiller, and the consumer confidence and the fed with a final meeting. and wednesday, chicago, pmi and pending home sales the fed statement expected at 3:00 a.m and the isn manufacturing index on thursday, with the auto sales. followed by the january jobs report on friday, along with consumer sentiment. this is busiest week among the highlights, apple,
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facebook, amazon, exxon, chevron, mcdonald's mastercard, visa and u.p.s let's talk about the markets now, chad morgan lander from washington advisers. chad, thank you for being here >> thanks for having me. >> wow, what a movement with the dow. a lot of up and down with the news of steve mnuchin and president trump. how are you looking at the week going forward and how that affects global markets on how we should be investing? >> in the short run, we expect the dollar to weaken overall, that's on the back end of stronger growth and the repositionses of where the ecb will be going for 2018 we expect there will be an end to qe by the end of september, october, and then they'll start raising interest rates in the late part of next year into
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2019 >> does that take into effect what we're seeing the weaker dollar clearly down 3.5% this year does that play into earning? >> it is it's a positive tailwind for u.s.-based corporations at multinationals but one has to "overall revenue mix for s&p 500 companies is still around 40% of international. so, nonetheless, we believe that the u.s. earning season this year, and also this quarter is going to be quite robust not only on the top line, but the bottom line. keep a careful eye on the nasdaq we expect that the nasdaq earnings southwest revenues are going to be up roughly 10% on the revenue side >> if you look at the sectors, all 11 sectors were positive on friday we have health care, staples, materials, tech and industrial, do you think there's room to run on those and if we were to pick a sector
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which one should we invest >> we believe health care, as well as tech will do quite well going into the end of this quarter. with that said, we're overweight growth as well as overweight equities in general, in relationship to bonds at this point in time. again, strong global growth. everyone nose about this a federal reserve, as well as a global central banks that are quite dovish overall >> clearly arriving state side, what yield level do bonds begin to look more attractive once prices have fallen >> i believe in the 3-ish range here even when it comes to the ten-year but it all depends on where the european yields go overall, the u.s. treasury market, across the board, has been anchored by regular yields within the eurozone and as well as in asia that's one of the critical reasons why you're seeing such substantially odd yield curve here >> it's pretty optimistic that
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you've got at the moment what's the big risk out there that will change all of that >> wilfred, all of that valuation here we're in nose bleed territory from that historical perspective. that's one thing also a slipup with central banks and tick lateral with the federal reserve. if they get too hawkish, we believe that overall, the curve is priced to perfection. third, my major concern is china. my over positioning, it doesn't have to be a bear market in china. what's good for china is not good for the developed world when it comes to trade >> chad morganlander of washington crossing adviser. >> the fallout continues with the mogul steve wynn emily tan is live in macau with the fallout there. hi, emily. >> reporter: hi there, we're keeping track with what's happening with the latest with
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wynn macau trading in hong kong. the market is closed for the day. for the day 6.5% closing down at the end of the day low not quite the magnitude that we saw in the stock in the united states where it was down 10% close to $10 billion market cap erased but this is in reaction to the accusations launched against steve wynn and these accusations he has strongly denied and called preposterous he makes up about two-thirds of his operating income from this city alone we got in touch with the macau gaming regulator and asked whether they're taking a closer look at the issue at the end of today. they have yet to issue a formal response but they say they are going to answer our request. this comes as nevada and massachusetts gaming officials say they are both taking a closer look into the issue this, of course, is about a $2.4
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billion project in boston called boston harbor that they're looking to set to open in 2019 and in massachusetts, the officials there saying they're going to be reviewing the company's license. so, the stock is expected to remain under pressure in the near term, both in the u.s. and here in hong kong. or i should say the stock traded in hong kong but has little or no impact on the macau operation. again, we're also keeping an eye out on the license, six concessions for the operators here in macau are set to expire starting in 2020 that will start with sjn as well as ngn and for wynn, due to expire their renewal in 2022. that's to keep an eye on largely no operations in macau from this. >> thank you very much billionaire saudi arabian prince alwaleed bin talal
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released over the weekend. this is two months after being taken into custody after a corruption crackdown still ahead on "worldwide exchange," your grammy 2018 highlights we'll bring you the winner and best viral moments from music's biggest night straight ahead chgeonwodwe back "rlid exan." tal? what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley
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welcome back to "worldwide exchange." time now for our trending
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stories and landon's back. >> hey, guys it's all about the grammy today. and bruno mars winning big last night. the singer beating out the likes of jay z and kendall lamar to bring home the best album and song and performance for "that's what i like. it's like the triple crown, record of the year, album. year >> i'm interested that album of the year is seen as the biggest one. >> because it's like the whole thing, right >> what's the difference between album of the year and record of the year >> so, record of the year goes to the actual artist song of the year goes to the songwriter and album is the whole game >> that's right, that's right. >> the best thing is to win them all. >> and he did it this is also trending a viral video alert out on last night's award show blue ivy proving to social media that she calls the shots.
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beyonce and jay z is caught on giving her parents an adorable stare. kou calm down. >> it's even better than i thought. >> it's funny that she goes with them to the awards show. her daughter d.j. khalid's son >> oh. that's funny >> and this also, hillary clinton making a surprise cameo at last night's awards >> she appeared in a prerecorded skit where james corden pretended to audition for the "fire and fury" cher, snoop dogg and d.j. khalid auditioned clinton was the final candidate sending the crowd into a frenzy. this was a really cool moment. >> i read about it as well >> i got a very positive reaction from the grammy audience which is to be
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expected >> landon, you watched the show, right. what was with the white corsages >> that was a shoutout to the times up >> i thought i didn't know for sure >> everybody wore the white roses. >> okay. that was my inclination. i meant to look it up. >> and james corden's success rises and continues. i actually didn't know he was hosting it landon, thank you very much. >> thank you the must reads catching our attention. i think caught one yesterday from the uk's london times it says "jack of all online trade trumps davos donald. the biline underneath saying tech giants of the east, not the world are now rulers in waiting. and now assessing davos, clearly trump got attention but jack mar
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was the standout person that everyone wanted to meet and have meetings with. it goes in comparison to alibaba. saying it's actually growing faster it's more diversified. it's taking payments better. a crucially, jack mar's relationship with xi jinping very good. and "the washington post" saying that's not so good, an important factor that could see the decade going for alibaba and amazon it was in yesterday's paper. >> and that goes very well with my must read my pick, "wall street journal," titled "sayers, say no to amazon." the professor richard ford talks about how finalists in bigger cities to solve finalists for amazon's hq2 he also thinks amazon already
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knows it wants to be in the d.c. or new york area but is trying to get the best deal by pitting these cities against each other. he writes at home they're all about fighting quality and gentrification and the minimum wage but they apparently have no problem forking over hundreds of millions of dollars, in some cases billions, to a corporate giant led by the world's richest man. saying they already know amazon's going to the d.c. area and just trying to get the best deal, like guys, walk your walk, talk your talk just anme opinion >> i know. it's a business case and either way it will benefit jobs and will benefit whatever state is goes into it and amazon is in a position to strike a better deal >> sure. >> when your position is a
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federal one and they're uphoused federal and states to have a federal system, that's the whole point. if you're in the uk or european nations that's not an option because you don't have that power. >> of course >> otherwise, you might otherwise not have that federal position >> right otheri otherwise, states gain and lose all the time still ahead, earnings to watch. what that can mean for your money. that's straight eaahd. and u.s. equity futures pointing we're back after this.
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welcome back to "worldwide exchange." i'm wilfred frost. the trump administration is considering a takeover of part of the country's broadband network. documents obtained by axios and confirmed by reuters show national security officials suggest the u.s. neats to centralize its next generation 5g network to prevent china from
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spying on traffic. the new move would be unprecedented. under the plan, the u.s. would build and pay for 5g and rent access at&t tells axios to launch 5g is already, quote, well down the road sanofi is striking a deal to buy ablynx for $4.8 billion. the belgium company's closing price on friday. the deal comes after ablynx rejected a lower offer from novo n nordisk. a group of activists are calling on avon products to consider putting it up for sale. they plan to send a letter to the board. they believe a year-long effort to turn around the brand has failed and requires new leadership shares up by 2.5%. >> the fed of ford china has
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quit citing personal reasons after 2 1/2 months on the job. ford china sales fell 4.4% last year overall higher by 0.4% roche wins a breakthrough for the label for autuomati aut. google alpha bed unit bit u. and deutsche bank plans to hike payments the $2.2 billion the german newspaper reports the news comes amid concerns another year of low benefits could push bankers to defect to more
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generous rivals deutsche bank 6.6% in german trade futures down as much as 70 points on the dow at the start and now down 70 points 2% gains in each of these three indices. good morning >> good morning. >> last week 2% gains. every week, exactly. and all 11 of the s&p sectors were high are. year to date, month to date, 9 out of 11 higher it's incredibly broad is that something that concerns you? >> look, i think we had a step function up in expectations. i think part of this has been a really good forecast season out of the united states building up from 11% gains and that's happening before we actually had the impact of tax cuts in states what you see a little bit this morning you see pressure both bond and stock markets the one thing that sticks out over the month of january, the
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u.s. dollar lost 3.5% of its value while relative interest rates actually picked up markets had been cruising along with stronger equities we see some pressure in the bond market and the dollar in the exact same direction. it's a more volatile year set for us even though we're legitimately fundamentally more optimistic how much of a earnings across the world this year. >> just to touch on that point, clearly the dollar side despite yields rising stateside. that because it's rising >> no, it's the opposite united states, we had yields pick up to the eurozone, for example. and yet the euro has picked up at the end of the u.s. dollar in 2017, the pu.s. dollar went up too far, too fast. we're seeing that bullish on the
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u.s. dollar and just taking one direction in the marketplace and not seeing any volatility, not see anything challenge with the federal reserve meeting again this week. and the market having to be considered this could be considered a four-year hike year. we have to question whether this continues in one single direction. >> chad morganlander was on earlier in the show. he said one of his concerns valuations are at nose bleed levels we touched on that at the beginning the discussion how much do you think we can run? and how much do fundamentals need to support that >> the single sort of market that has the same valuation. if you take a look at the most extreme way of looking at u.s. valuation april or cycle adjusted pe, you know, we're one-third where we 1999 for example. for the rest of the world, we're 50% where we would be in 1999. so there's not just one single
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measure. we've had dramatic differences in one market. we want to exploit those investors. the fact that emerging markets had a quarter of return that u.s. markets measure in dollars over the last five year which is is we want investors to. we had some real, you know, significant fundamental differences like a u.s. tax cut. >> in terms of president trump and his view on trade issues at the moment, when we get the take-away from davos, this is actually something that you welcome for markets because it is turning out to be a first as opposed to a lone strategy >> so, just to see whether we will actually have any trade disruptions in the world i think the risk of that was viewed much, much higher a year ago >> uh-huh. >> it's come down but the risk that there will be equanimity around trade views and no problems at all on the trade front, no reciprocation on any of these things again would
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probably be too bullish of you we have to watch these things. things like nafta will be locally priced we won't worry about this across the entire world. the news is quite significant ahead of elections in mexico this year. >> steve wieting of citi and lots of earnings today >> ten dow components. >> we've got facebook, apple, who's a look at the agenda amazon as well, and prince alwaleed's investments if you want to see those. anyway, quickly the futures before we go, pointing there they have improved down 30 points for the dow as much as 70 points of course, last week, we did gain over 2% for each of those three indices.
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all 11 sectors were higher in the s&p. broad rally last week, just pointed a little lower ahead of the open that's it for "worldwide exchange." "squawk box" is up next. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember.
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good morning freed. saudi arabian prince alwaleed bin talal released from the detention. also known as the ritz prison. also steve wynn resigning as rnc finance chair and misconduct allegations we've got the latest plus the impact on his casino empire what is the board going to do? plus, a huge week, we've got job reports, the fed meeting, it's monday, january 29th, 2018. "squawk box" begins right now. ♪
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>> announcer: live from new york where business never sleeps this is "squawk box." thank you. good morning and welcome to "squawk box" here in cnbc. i'm kelly evans along with and drew ross sorkin joe and becky are off. >> what happened -- davos took everybody down >> how long were you guys on the road in traveling? >> we were moving, all over. >> seven, eight, nine days >> becky was planning to take off. >> and what was with the six feet of snow did you have the snowpocalypse >> how long was


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