Antivirus software symantec fires its ceo. And happy birthday, twitter. Turkey threatens to ruin the party with widespread outages as the Prime Minister vows to wipe out the site. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Welcome to the show. Ross westgate is out today. Julia chatterley of course is covering the story in brussels. And lets get back to the top story. Nobody is afraid of rush i cants reaction to sanctions. That is the message this morning as eu leaders gather for the second day of their in brussels. This after the white house in brussels extended sanctions on russia to target close allies of Vladimir Putin. Although the Russian Foreign minister has slammed the measures as irrational. Barack obama warns the threat of further military action by moscow could lead to its isolation from the International Community. Weve been working closely with our European Partners to develop more severe actions that could be taken if russia continues to escalate the situation. As part of that process, i signed a new executive order today that gives us the authority to impose sanctions not just on individuals, but on key sectors of the russian economy. This is not our preferred outcome. And these sanctions would not only have a Significant Impact on the russian economy, but could also be disruptive to the global economy. However, russia must know that further escalation will only isolate it further from the International Community. Lets have a look at how the russian market is faring this morning in response to the ramp up of sanctions from the west. The micex is currently down by 2 this morning. Keep in mind, overnight, s p lowering its outlook on russia and many people would argue that russia now is a risky frontier market. Its no longer a very attractive emerging markets. Once again, were seeing some modest decline for the mice ex, down 2. 16 . Lets have a look at how u. S. Futures are shachg ping up this morning a couple of hours before we head into the last trading day of the week. The dow, nasdaq and s p 500 are seen marginally higher. After yesterdays trading session, better than expected activity in the midatlantic region, weekly jobless claims slowing by more than expected. The s p up 0. 6 yesterday, recouping all of wednesdays yellenrelated losses. Nasdaq up 0. 3 and the dow up 0. 7 , as well. Lets get back up to the brussels story. Julia is standing by in the belgium capital. Julia. Thanks so much, carolin. Its been a really long night. The eu leaders here wrapping up in the small hours of the morning. What we saw was 12 new names added to the sanctions list. Not as stringent as perhaps what we saw from the u. S. Yesterday, but it is progress. I managed to speak to david cameron, the uk Prime Minister as he left the meeting this morning and i asked him what message was he sending to russia right now . We are sending a clear, strong and consistent message. Thats what i said we needed to do this morning. It has been hard work, but weve made some real progress. I said we needed to expand the list of people who are subject to travel bans and asset freezes. Weve done that. I said we needed some specific measures in respect to what has happened in crimea, which is unacceptable, and weve agreed that. And i also said it was important to send a very clear message that if as further destabilization in ukraine, then there should be further wide ranging measures taken. And weve agreed tonight that we will pass the European Commission to draw up those possible measures. That is progress and the world will be able to see that. Because what we need to see now is just who is on the list of those 12 additional names. Are we going to get laughed at by the russians again or are we starting to approach some of putins inner circle that will have more influence. And the other question is, will there be retaliation from the russians in the way that weve seen as far as the u. S. Sanctions are concerned . Remember, it cuts both ways. Its tough for the russia as it is in europe to impose sanctions back on them. So its a case of watching this space. For now, were going to work on a blueprint, a further sanctions list if we see further aggression from russia. For now, though, back to you. Lets continue with our look at the markets. No real conviction in the markets right now. However, the dax in germany is up 0. 5 . The ftse 100 after declines of around 1 yesterday is trending higher to the tune of around 0. 3 . The cac 40 getting a boost from vivendis sfr. Again, lets revisit, the miex ex down by 2 . Down by as much as 3 earlier this morning. Quick look at the bond market, big week for yields this week. We saw the biggest rise in yiel yields, this is on the back of a surprise coming from yellen. Yesterday, the yield for the tenyear steady at 2. 76 . But we did see continued rise for the twoyear treasury yields now at 42 basis points. This is, of course, on expectations of a substantially high fed funds rate earlier than expected. The tenyear yields seeing its biggest rise, oneday rise on wednesday in three months, 2. 75 . Last but not least, lets check in on the for ex markets. The japanese market is close to trading today. It is down by 0. 3 . Overall, the dollar, which has seen a shot in the arm on the back of the yellen comments on wednesday is hovering just around the threeweek high. But this story is huge. That is the yuan story and the yuan is down from 1. 2 against the dollar this week. This is the biggest ever fall on record since records began some 20 years ago. This is after the pboc doubling that trading bet against the u. S. Dollar last weekend and the pound against the dollar is down by around 0. 2 . Lets check in on how markets are faring in asia. Li sixuan is standing by. Thank you for that, carolin. China markets are higher, especially the shanghai composite made a strong technical rebound with banks and property stocks leading the gains. Further easing in terms of fundraising for property developers. The yuan hit a 13month low today. In the meantime, the nikkei reported that operating profits will likely jump 80 for the fiscal year for march 31st beating forecasts. Elsewhere, seoul shares bounced back 0. 8 as the u. S. Data triggered some bargain hunting. Australia recovered 0. 8 . This also thanks to news of funds being secured for one of the countrys largest mining projects. In terms of earnings, Hong Kong ListedGlobal Sourcing firm over 20 today as investors cheered 2013 earnings and shares were boosted by a surprising plan to spin off part of this distribution business. Chinas gome electric businesses by ge capital returned to profit in 2013 thanks to its cost control efforts and shares rallied over 4 today. That is a look out of asian markets. Back to you. Sixuan, thank you so much for that. Lets give you a look at whats on todays agenda in the United States. Theres no Economic Data today. A pair of fed officials Narayana Kocherlakota is and jeremy stein speak after the closing bell. A pair of earnings, Darden Restaurants and tiffany, of course. We are now joined by jason oh connell. Good morning to you. Has the market now lost its sensitivity to the fed . Because it only took a day for markets to stabilize. Its an interesting point you make. I think initially the market didnt know what to make of Janet Yellens comments. We had bond yields increasing at the same time stocks were decreasing. We havent made up much of that ground. But i think what it speaks to is investors will need to be much more discerning Going Forward determining who were going to be. Again, i think were in a position where we dont want to measure the whole market and active management is going to play a much larger role in the trajectory in which investors see their equity gain this year. In terms of the market, we see Home Builders lacking, utilities, is it all an end to the dividend trade . No. I would say decidedly not. That is a common misconception up there. Dividend growers is not a trade at all, but rather an allweather equity strategy that has proven very good at delivering what we would call a superior risk adjusted returns. Now, the threat of a high dividend yield play, im thinking more the ten year, which hasnt been impacted from the fomc comments, id say the twoyear curve, when the ten year starts to approach the neighborhood of 4 , were going to have a difficult time adjusting valuations. Well leave it there with a moment. Meantime, futures are firming the u. S. s aaa Credit Rating with a stable outlook. They say this resolves the negative watch put on the companys ratings in october. The move comes after congress struck a deal to suspend the u. S. Debt ceiling for a year, lifting the cloud of uncertainty over the countrys full faith and credit, unlike similar crises in 2011 and 2013. Risks in the Financial Sector are currently judged to be low. Michelle obama is on a threecity tour of china. Well have more on her weeklong visit after the break. [ male announcer ] first the cookie at checkin. Then a little time to kick back. Earn double Hilton Honors points with the 2x points package and be one step closer to a weekend break. Doubletree by hilton. Where the Little Things mean everything. Welcome back to the show. These are your headlines. Banks stress tests are expected to perform well. And the turkish Prime Minister vow toes wipe out twitter as the social network is blocked across the country. We want to bring you the latest flashes on russia. Russias upper house has approved the annexation of crimea. It doesnt come as a surprise after the lower house of the duma has passed it. This clears the way for Vladimir Putin to sign the annexation of crimea into law. Meantime, the leaders have signed the political sanction of the Association Agreement with ukraine. This is the trade part of the eu Association Agreement with ukraine that is on hold for now. But the political hype that has now been signed. Julia has been talking about this, this is the deal that fell through back in november and that is trying to be revived now. Lets move on. Chinas yuan posted a 13month low today. And more market speculation that peoples bank of china will keep the currency weak as the economy slows. Eunice yoon is standing by in beijing. How the yuan found a bottom now . That is vary difficult question to answer. I think there are a lot of people who want to know that answer. For the most part, what were seeing is the biggest weekly loss for the chinese yuan. Its down 2. 8 yeartodate. As you had said, theres a lot of talk about how its now at a 13month low. People dont know exactly where its going to go. There are a lot of people who are thinking its going to weaken, mainly because even though we saw a reform in the currency regime and the policy because now the yuan has wiggle room, ultimately, the Chinese Central Bank still has control over how the yuan is valued. It sets a mid point. What weve been noticing is that the mid point is set weaker and weaker. So there are a lot of people who have been talking about is this some type of stimulus, kind of a back door stimulus that the government is trying to do in order to prop up the export sector. Also, there have been a lot of people who have been discussing whether or not the Chinese Central Bank is trying to find a way to really ward off a lot of speculative money that has been coming to china. And its actually having some success because there havent been as many there hasnt been as much money rushing through the country because of the fact that the yuan has been weakening more. One other thought, though, is that on the other side of the coin, there are many people who are saying there could still be a floor, maybe were going to see some stabilization in the chinese yuan because at the end of the day, the chinese have a large trade surplus. And that that would just ultimately allow the yuan to appreciate and put a floor in there. Now, one of the things that people are concerned about is the fact that a lot of Chinese Companies do have money thats really hedged in these products where they are where they set it at 6. 2 or so. But now were seeing that the yuan has weakened, two below 6. 2, which is a psychologically important level. There is concern that we could see losses not only here, but overseas, as well. We want to bring you more flashes coming from russia. Mr. Medvedev says russia should ask ukraine for 11 billion due to denunsation of the 2010 deal. This deal is tied to a gas discount. Also, the foesh minister saying the deal to send osce monitors to ukraine is practically agreed. So this is a step in the right direction from as viewed from the west. Were talking to eunice about china before. Its jittery about the Ukraine Russia fallout, but the debt default and Economic Data points coming out of china. Has that now been priced in . Will it reek havoc for the u. S. Markets . I think as it relates to the u. S. Markets, carolin, were going to see 2014 mark the return of volatility. So i expect whether its china or Commodity Prices or any other geopolitical event, i think at the stage were at regarding valuations, following a significant run up in the market, absent any revenue growth, all eyes are going to be not only on china, but also on u. S. MacroEconomic Data to get some sense on whether or not there is sustainability Going Forward and will be able to drive not only confidence levels, but actual real fundamental revenue growth. Absolutely. And we get plenty of u. S. MacroEconomic Data this next week. Jason, thank you so much for your time this morning. Jason oh connell, Research Direct director, boston private bank. Thank you. Still to come on this show, happy birthday twitter. The social networking site turns eight, but has turkey ruined the party . Details later on in the show. R. Ill just press this, and youll save on both. Ding ladies and gentlemen, boys and girls, llllets get ready to bundlllllle. [ holding final syllable ] oh, yeah, sorry lets get ready to bundle and save. Now, thats progressive. Oh, i think i broke my spleen Home Insurance provided and serviced by third party insurers. Iwe dont back down. We only know one direction up so were up early. Up late. Thinking up gamechanging ideas, like this dozens of tax free zones across new york state. Move here. Expand here. Or start a new business here. And pay no taxes for 10 years. With new jobs, new opportunities and a new tax free plan. Theres only one way for your business to go. Up. Find out if your business can qualify at startupny. Com welcome back to the show. Lets have a look at u. S. Futures. The s p 500, the dow jones and the nasdaq seem modestly higher with fair value is taken into account. This is after rallying yesterday and the s p 500 up 1. 6 , recouping all of wednesdays yellenrelated losses. Keep in mind we have quadruple witching later on today. We may be seeing volatility going into the close. Meantime, the fed finds most u. S. Banks are Strong Enough to with stand a major shock. A sign many of them will soon get the green light to return money to investors through on dividends and buybacks. Kayla tausche has the details of the latest stress tests. Good morning. 29 out of 30 banks passed the socalled stress test where the Federal Reserve simulates a severe fm crisis, measures the capital that remains on banks balance sheets. Community bank zion is the only one not to complete the hurdle. Zions could each more stock to meet the guidelines. Discovery financial, a credit card company, made an early announcement that if the fed doesnt object, it will hike its dividend and aim for a 1. 6 million buyback. Wells fargo bested its peers with a tier one common ratio of 8. 1 . This years exercise saw even stricter hypotheticals, where equities were halved, housing prices fell 25 , unemployment topped 11 . Asia saw sharp slowdowns, but treasury yields spiked and litigation costs multiplied. Even with the added difficulty, though, Bank Balance Sheets performed better than in years past with fewer bad loans that would potentially default. If i fed officials said thats one of the biggest signs of confidence the tests are working. For now, well send it back to you. Jason oh connell is still with us. Jason, what do you make of this trust . We know the six major banks have a past, not all of them with flying colors, but we still dont know how much theyre allowed to pay out dividends in shares and return money to shareholders in terms of share buybacks until next week. Carolin, thats an excellent point. I think the dodd frank stress tests results were an important precursor to the much more relevant ccarr results that come out next week. And i say more relevant because that will give us specific insight as to increasing share buybacks and dividends. I think at this point the fomc commentary certainly spurred another bank rally on the idea that the short end of the curve starts to regulate. But i think the valuations for many bank stocks, perhaps excludeing the Largest Global banks really are already starting to discount the next rate move. So i think the results and the extent to which the banks are allowed to accelerate the return of capital to shareholders, i think thats going to be critical to any further valuation. Jason, thank you so much for your time this morning. Jason oh connell, Research Director boston private bank. And still to come on the show, noois nike goes for the shot but gets denied for slow growth. We have the earnings after the break. Break. Earn double Hilton Honors points with the 2x points package and be one step closer to a weekend break. Doubletree by hilton. Where the Little Things mean everything. Doubletree by hilton. To manage your money. R guy around 2 percent thats not much, you think except its 2 percent every year. Go to e trade and find out how much our advice and guidance costs. Spoiler alert. Its low. Its guidance on your terms not ours. E trade. Less for us, more for you. Welcome to worldwide exchange. Im carolin roth. Eu leaders are meeting in brussels to discuss further sanctions in russia. All that remains now regarding crimea is for president putin to sign the annexation into law. Nike warns profits will come under pressure in the current season emerging markets. And happy birthday twitter. The social networking site turning 8 today, but turkey is threatening to ruin the party with widespread outages as the Prime Minister vows to wipe out the site. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. All right. The latest press conference on missing malaysian flight 370 is due to search for kuala lumpur. Well bring you the updates on that as it gets under way. This as australia searches for Malaysia Flight 370 resumes today. Authorities are looking at additional satellite images in the hopes of refining the search which was hampered by bad weather yesterday. Satellite images identified two large objects floating southwest of perth. Investigators say there is no guarantee the objects are from the flight, but say it is their best lead yet. Lets get back to markets. Here is how markets are faring ahead of the u. S. Open. Looking at futures for the dow, the nasdaq and the s p 500 is taking fair value into account. Were expecting a modestly higher start to the trading session. U. S. Stocks, rally yesterday, the dow jones up 3. 7 . The s p up 0. 6 . Erasing the losses that we saw on the back of yellen on wednesday and the nasdaq up by 0. 3 . Remember, we get kwaul quadruple witching later today. We may see more volatility into the close. European markets look like this. Were seeing some green arrows across the board. Ftse 100 up by 0. 3 . The xetra dax, germany and ftse mib up by around 0. 3 . So certainly more trading with a positive buy. There is caution in the market as the west is ramping up sanctions against russia and were wary of any tit for tat action coming from russia. Lets get back to earnings. Nikes earnings beat with futures orders, but its shares seem to be under pressure in extended trade. Cnbcs sara eisens tells us what its earnings implies for the global economy. A Strong Quarter for nike as sales dumped 13 beating the streets estimates. What do the consumer giants earnings tell us about global spending is in the . In the United States, nikes most important market sales jumped 12 . Western europe coming out of recession and nike growing market share in rival adidass turf. The future looks bright in europe for nike with future orders, a key metric that indicates future growth. Pointing to more double digit sales growth there. Emerging market sales leapt 19 during the quarter. China, more of a question mark for nike. Sales rose in china. Future orders for the second most important market for the company dropped. Japan also is still struggling to gain traction. But gains across most of the key regions are really driving nikes bottom line higher, reflecting the power of the swoosh, the brand, and new high margin products like technology, fuel band, wearable tech. Expenses were higher during the quarter at 14 . Its fueling up for a major presence at the world cup this summer where Ceo Mark Parker told me he does expect to see a bump in overall sales. Bottom line, the bar is set high for this company. The stock, a dow component, up almost 50 in the last year. But the Market Leader in athletic gear, delivered for investors this quarter. Back to you guys. Lets talk more about nike with karina freedman. Joining me on the line from new york, karina, good morning to you and thank you so much for joining us so bright and early. Whats wrong with the numbers . Why is the stock down . Revenue is better than expected, growth double digits, eps also beating. Whats your take away . The primary issue is with the forward guidance. A little bit of a disappoint with fx really taking a toll out of what theyre guiding to. So top line will be high single digits. Theyre guiding their bottom line, however, should be less than their longterm goal of mid teens growth. What about the valuation of the stock, because it is fairley richly valued, isnt it . Trading at 25 times forward earnings. Also easily outpaced the s p 500 last year. Any further gains are really hard to come by, right . Correct. Its trading above its peak multiples, which does, you know, set it up for a little bit of shaky run here as we expect. The numbers should have been, i think, pretty much near perfection to drive the shares higher. However, you know, we do think that there was a lot of positive expectations already built into the stock. So we could see profit taking in light of the very Strong Quarter numbers and disappointing forward guidance. Corina, if we look ahead, orders up 14 . That is bullish ahead of the world cup later on this summer. But nike has been expending a lot. Is that going to pay off . Correct. So there is theyre increasing what theyre spending on demand creation, which is their marketing term. They did pull some of that forward and some of that actually has shifted into the Fourth Quarter, so thats going to hurt Fourth Quarter numbers. Theyre guiding that number to be up 30 from next year, which is very strong. So that does beg the question why mikey, its powerful brand needs to continue to support such high marketing trend. But we look at that as being sort of the fallout of increased competition in that athletics space. I have to ask you about nikes exposure to russia. Can it capitalize on adidas weakness on the back of its exposure to russia . Correct. They did indicate that theyre not seeing any fallout from the turmoil in that region. So, you know, were optimistic that they can stay the course there. They do expect that that market should be about 1 billion for them. So yeah, that and their western european numbers are very strong, which does indicate that they are taking some share in the primary market donor there would be adidas. Corina, whats your rating on the stock . Yes, well, it is in the stock, i believe. No, what is your rating for the stock. Oh, my rating of the stock is neutral. Im sorry, i couldnt hear you. Were maintaining of 78 price target. Thank you so much for your time this morning. Footwear and apparel analyst at wedbushs securities. Still to come on the show, gm is set to face tough questions about the companys recall. Details, straight ahead. Well be back. Well be back. I dunno, i just ah woke up today and i said i need something sportier. Annnd done. Ok maxwell, just need to ah contact your Insurance Company with the vin number. Oh, i just did it. With my geico app. Vin is up to the loaded. Ok well then jerry here will take you through all of the features then. Why dont weeeeeeeeeeee go out to the car. Ok, ill just be outside. Ok, yeah. His dad is my boss. Yeah. Vin scanning to add a car. Just a tap away on the geico app. [ male announcer ] how could a luminous protein in jellyfish, impact Life Expectancy in the u. S. , real estate in hong kong, and the optics industry in germany . At t. Rowe price, we understand the connections of a complex, global economy. Its just one reason over 75 of our mutual funds beat their 10year lipper average. T. Rowe price. Invest with confidence. Request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. Your headlines this morning, leaders on both sides of the atlantic agree to expand sanctions against russia. Some banks dont perform as well as expected in the u. S. Bank stress test. And the turkish Prime Minister vow toes block out twitter as the social network is blocked across the country. Now, a tweet from European Council president has revealed the moment that a political agreement was made between the eu and ukraine. This happened just moments ago. However, despite the smiles, crucial trade arrangements have yet to be signed. At the same time, russias Upper House Parliament has signed a treaty to annex crimea. Not a big surprise. Mary barra has been gms ceo for only months, however shes being threatened by a recall. Mary barra will testify before the House Oversight committee next month in what will likely be the first of many hearings regarding the companys recall calls. Gm didnt recall the vehicles until last month, but data shows it first learned of the issue as far back as 2001, during the development of the saturn ion. Gm signed off on changes to the twitches in 2006, but only for newer models. House panel asked david freedman, the house of the National SafetyHighway Administration to testify about why the company didnt act faster to contain the problem. While the problems originated well before barra and freedman were in charge, the hearings are essential to getting answers about what went wrong. Gm is facing potential class action lawsuits in response to what critics say is an issue the company and regulators should have dealt with years ago. Earlier this week, barra apologized for the recall saying she is taking full control of gms response and has named a new head of global safety. Check and see how gm shares are trading in frankfurt this morning, it does look as if were a bit higher today up about 1 . This story is probably far from over. Gm has a lot to deal with more than likely Going Forward. Back to you. Thank you so much for that. And the latest press conference on missing malaysian flight 370 is under way. Authorities say the objects sighted in the indian ocean are yet to be confirmed as being related to the plane. Ukraine has backlog checks of citizens aboard the flight. As we get further developments, well bring those to you as soon as possible. Meantime, reportedly set to join, airbnb is expected to be value adjust 2. 5 billion two years ago, air bnbs sharp rise is being seen as an endorsement for the shared economy business model. From air bnb to air pnp, its an app that helps you rent out a toilet for a few dollars. The Company Started out as a joke, but has since gone viral, taking the sharing economy to a whole new level. Gene wells takes the app for a spin. Has the sharing economy gone too far . Sheer a business that gives peer to peer new meaning. It was an experiment. The experiment was what if you make a company thats so funny that it markets itself. Inside a mens room, travis laurendeen discusses his announcement, airpnp, a website that lets people rent out their toilets. Last mardi gras, it was a joke. Someone was like i have to pee. I was like im going to make airpnp. They were like, thats a good idea. So he decided with a Business Partner to lauren airpnp. The rest is viral history. It just became such a wordofmouth story, it was out of our control. For some reason, it became viral. Who knows. Have there been any reports of safety issues and having to protect against that . Luckily, you know, we havent had something go wrong. Here i am leaving san jose airport and i actually have to go to the bathroom. I decided to test airpnp while on the road in san jose where i found one sight listed, a bathroom nicknamed duckies. Here is a bathroom i was supposed to visit. When i got there nobody is answering. Precious minutes ticked by. No luck. The problem is, i really do have to go to the bathroom. So i ended up going where i always go. Starbucks. Clearly, air pnp is not perfect and many of the people who list their bathrooms are only joking. But in new orleans, the model actually worked during mardi gras and next he hopes to land a toilet paper sponsorship. This is a problem that is like a real problem. Businesses are solving problems. People in the United States take 3 trillion pees a year. Really . 3 trillion. Ill take your word for it. Do the math. Just math. He says the Global Market is that much bigger. With a, quote, steady stream of customers. Im jane wells, cnbc Business News in los angeles. Personally, i think the sharing economy has gone too far with this site. Let me know what you say. You can join me on twitter or send in your emails. Staying in this sector, widespread twitter outages have been reported across 2us krocro after the Prime Minister threatened to wipe out access to the social media site ten days ahead of critical media elections. The news of turkeys twitter censorship has caused waves in europe. The eus digital commissioner sent this tweet earlier saying the twitter ban in turkey is groundless, pointless and cowardly. Turkish people at the International Community will see this as censorship. It is. All this as twitter celebrates its eighth birthday today. Happy birthday. Its been eight years since cofounder jack dorsey sent the very first sweet which said just setting up my twitter. How far have we come since 2006 . Twitter now has 240 million active users, 5 million tweets are sent per day. Lets take a look at todays other top stories. Symantec has fired ceo steve bennet, the second time its ousted its Top Executive in less than two years. The move comes out, the softwaremaker is struggling to ship its consumer business to a subscription model from a less profitable onetime licenses. Bennet has been seen as key to symantecs turn around which has been losing markets to rival such as checkpoint software. Shares of symantec fell 6 after hours. Meantime, microsoft has been highly critical of google for going through emails to help delivered targeted ads. But now microsoft admits its tried to track down who has been leaking company secrets. The case involves former employee alex kupala who allegedly shared proprietary software with a blogger. Microsofts lawyers says they will consult an outside attorney in the future to determine if a court order is needed. Coming soon to a theater near you, love, intrigue, cyber crime, a high profile blogger who exposed a massive breach of target in december. Sony pictures has bought the rights to aen article about crebs. The studio reportedly plans to make a film set in high stakes criminal world. Coming up on the show, u. S. Stocks rebound from their private selloff. Todays quadruple witching events wraps up bonds sales in the markets. The markets. [ male announcer ] we all think about life insurance. But when we start worrying about tomorrow, we miss out on the things that matter today. At axa, we offer advice and help you break down your insurance goals into small, manageable steps. Because when you plan for tomorrow, it helps you live for today. Can we help you take a small step . For advice, retirement, and life insurance, connect with axa. That want to be a part of the european union. Crystal clear in what we received, what we get, we get the unilateral application of all economic measures by the european union. This will substantially boost ukrainian Economic Growth as the eu opened its markets. So we would gain additionally up to 490 million euros. Can have in this situation . Do you think that nato can help in this situation . We know that obama unilateral territory. So ask both of them. Some people say [ indiscernible ]. Its up to everyone to decide. Do we share value or we share values. You need to pay the price and we all need to pay the price for peace, stability, security and value. And i strongly believe that the eu acknowledged this, realize this, and the eu will seek in one single and strong voice protecting the values, defending the territorial integrity of ukraine and protect the eu itself. Because god knows where is the final destination. Is it ukraine . Or is it the eu . Whats happening in the world today . Whats up . Russia decided to actually impose a new post cold war order and to revise the results of the second world war. This is the truth. [ inaudible question ]. All right. That was the ukrainian Prime Minister speaking in brussels after the signing of a Political PartyAssociation Agreement with the eu. The economic as a trade partner is still outstanding. Quick check on the micex in russia, down by as much as 3 this morning as the west ramped up the sanctions against russia and s p lowering the outlook on russia. U. S. Futures pointing to a slightly higher start to the trading day this morning. This is after the rallies we saw in the markets yesterday. Were now joined by todd horwitz joining us from the pit in chicago. Todd, good morning to you. Weve got quadruple witching today. What do you expect from that . Good morning, carolin. I think the way they started to move, triple witching, theyve already expired the futures and the bonds. I expect to see some volatility in the equity market and i expect to see a lot of volatility in the option market and a little higher than normal buy in today. And it looks like the markets, they want to push higher. Maybe theyll even try to make a run at the heist. Youre absolutely right. The s p is back in striking distance of the record high we hit on earlier this year. What do you want to see . Well, you know, im actually not that bullish up here. Ive been following the tape, but it looks like it wants to push higher. Theres a lot of problems that were facing, but what its going to take is more buyers coming in. The Biggest Issue with everything because the market is the only place to get a yield for your money. So everybody is being forced to come into the equity markets. So as we see it go higher and as theres less places to go, more money flows into the equity market which is going to push it higher. So i dont see any issues here. Theres no reason to step in front of it. Me personally, im not participating. Im on the sidelines waiting to come in. But im certainly not bringing new money to work here, but there are a lot of people that had to go in. And right now with the Interest Rate structure the way it is, the qe the way it is, pushing forward is where theyre going. Todd, thank you so much for your time, founder of average joe options. Com. For viewers in the u. S. And asia, thats it for todays show. Squawk box is coming up next. Thanks for watching worldwide exchange. For viewers in europe, the second hour of the show is coming up. P. Happy friday. Good morning. U. S. Stocks moving higher on good economic news. Will the bulls keep rolling into the weekend . Thats the question. More sanctions also today for russia and the markets in moscow. Theyre sliding. The results of the feds Bank Stress Tests are in. Theres only one failure. Its friday, march 21st, 2014. Squawk box begins right now. Good morning, everybody. Welcome to squawk box on cnbc. Im becky quick along long with andrew ross sorkin. Joe kernen is off today. He will be back on monday. We have another bullish session on wall street. And a rally in financial stocks like jpmorgan. Jpmorgan jumped more than 3 to close above 60 a share for the First Time Since april of 2000. That helped power the dow. The index adding 108 points to close at 16,331. And the s p 500 adding 1 1 points. Its now just about six points from an alltime high. The nasdaq higher, it now stands at 4319. If you check out the markets this morning, take a look at whats been happening with the futures. Youll see right now there are green arrows once again. Up by about 58 points above fair value for those dow futures. Remember what happened yesterday. We saw red arrows across the board. S p futures are up by about 7. 5 points this morning. In europe and some of the early trading there, you can see green arrows there, as well. The cac is up by 0. 5 . Same story with the german dax. We watched everything reverse