Good morning. Happy thursday. Im sara eisen here with mike santolli. Polls are open in london. Plus, it is throwback thursday. This week, were throwing it back with some songs from british artists. The clash can apply to a lot of these. Agree. But this one is for wilfred. Youre welcome. Lets get right to the markets this morning. U. S. Equity futures after a mini rally yesterday, a little bit of a comeback for stocks are higher again this morning. S p futures are up about 2 and nasdaq futures are up about six. Well watch the industry performance within the market this morning. Financials actually were on. Top of the pack for a change yesterday. Got a little lift in yield, some hope of deregulation and that fueled that sector as that has lagged behind, pretty much flat for the year. Oil, after a 5 slide yesterday on the back of a built in u. S. Crude inventories and gasoline inventories, a little bit of reprieve for wti after that slide. Its back above 46 a barrel. 46. 11. Up almost 1 . Brent, 48. 49, up 1 , as well. Nat gas pops at about. 25 . Energy stocks one about 2 , but not dragging the entire market back. Things are different. The credit market is a little calmer. It feels like its all about supply and about the u. S. , right . Exactly. So not a gross negative, necessarily. Some data out of asia driving equities there, japan revised down so 1 . And china reporting stronger than expected trade data for may. Exports are up 8. 7 while imports grew 14. 8 . You see equity markets in asia overnight, japan giving back just a little bit overnight. You see the yen, lets see it was stroker a little bit overmight. It was stronger. Its actually just moving minimally, just lightly firmer right now, just under 110. There was that headline that the boj was looking to change its communication around exit, but according to the folks overnight, didnt signal that anything is coming soon. So maybe a little bit of yen buying. A reflex move and thats it. The central bank will make a decision on Interest Rates at 7 45 eastern. Nobody expect a change there. Its the News Conference that will be important by mario draghi at 8 30 eastern. Investors are expecting the ecb to leave the rates unchanged. But theyll be looking for clues as to when the central bank plans to wind down its massive bond buying program. Mario draghi in the past has kept a dovish stance. So while growth is going okay, manufacturing is pretty widespread. Not quite seeing the inflation dont. Thats the big wild card about whether he does actually Start Talking about the exits and paring back. And, of course, if he maintains that bonus on the inflation target and lowers the target, its going to seem dovish. Yeah. Plus, were keeping abdomen eye on the european sector, news overnight that the italian banks are enjoying the joint rescue of a couple of regional banks. Overall, broadly, theres the euro stocks. Thats the index of the continent and it is mostly higher near multi year highs. Just crossing the tape, q1 eurozone gdp revised to 0. 6 from last quarter, 1. 9 from last year. Actually growing more than previously estimated which follows the better growth picture in europe. Its that inflation. For sure. Taking a three broader markets, tenyear notes are mentioned. We did get a little bit of a lift in the yield yesterday. Now at 2. 19. 215 has been the recent low. Thats basically going in the direction a lot of folks have been wantsing to see, but still, certainly at the lower end of its range over the last six or eight months. Take a look at gold. Gold is up a good deal id say in the last one month. Its up about 72 per ounce. Here you have it down nearly. 5 . So voting is under way in the uk at this hour. Wilfred frost in london with the latest. Morning, wilfred. Good morning, guys. Yes, so polls have been open for three hours already spt leaders have been casting their votes early this morning. If theres one bit of context i want to give to how this campaign has played out, its the level of expectation coming into it. Yes, theresa mays star has fallen from when she had a 20point lead back in april, both in the eyes of voters and importantly also in the eyes of her own mps. And yes, Jeremy Corbyn has been done way better than expected. But that, as i say, is relative to expectation. I want to give some perspective of theresa mays lead, despite the lead slippage. The ft poll of polls has mays lead at 8 points this morning on 44 of the vote. The current or so majority of seats delivered by David Cameron was on a 4. 5 lead on 37 of the vote. Thats why people are so confident that theresa may will deliver another conservative majority. The question, of course, is how with big is that majority . Now, in terms of the feeling on the ground here in the uk, i say its framed by apathy and disappointment. Playing on Theresa Mays Brexit slogan of no deal is better than a bad deal, i saw one banner that said no Prime Minister is better than a bad Prime Minister and that does kind of sum things up, albeit in a light hearted fashion. The level of discontent across the uk of all voters based onner regardless of which side they come from, based on a rather disappointing campaign and the fact that this is the third serious vote that he had to endure in as many years, people are tired ahead of the results in about 12 hours time. Twice. Some election fatigue. Wilfred, the pound is a tiny bit lower. What are the market implications . Just run them down again. And what is the time frame for when were going to start to learn the results . So time frame, 10 00 p. M. Local time. 5 00 p. M. Eastern time. Well get the official exit polls. Those exit polls are considered to be fairley accurate in a way that last years werent because of the brexit vote being a National Poll as opposed to 650 individual constituency votes which are slightly easitory track. In terms of which way the market is likely to move, its expected if may does deliver that majority, particularly an increased majority, that will be good for the pound. If we go towards Hung Parliament territory, or even Jeremy Corbyn victory, that would be bad for the british pound. Though thats the shortterm reaction. What all that means for brexit Going Forward could suggest things move in the opposite direction later on. Wilfred, thank you. We will see you. I know youve got a slew of guests to talk about some of the implications, the different Economic Projections from different candidates and, of course, the voting. Wilfred frost in london today for the British Election. The other big story today, of course, fired fbi director james comey testifying before Congress Later this morning. We got a glimpse of his planned remarks yesterday. Lets get to aman. It was a bombshell piece of written testimony before the highly anticipated verbal testimony today before the Senate Intelligence committee at 10 00 a. M. East coast time. But in the written testimony, james comey laid out about five different interactions he had with the president. Let me bring you two that really stand out. On one occasion, he said he spoke to President Trump directly. The president said, i need loyalty. I expect loyalty. Comey says, i didnt move, speak or change my facial expression in any way during the awkward silence that followed. That is a stare down in the white house residence. Its a dramatic moment. Its going to be the key here to this mornings testimony. But also in the testimony, he says that he had some interactions with attorney general jeff sessions. He said i told the attorney general what had just happened. Him being asked to leave while the fbi director, who reports to the attorney general, remain behind was inappropriate and should never happen. He, that is the attorney general jeff sessions, did not reply. Thats another moment in which comey suggests that he was alarmed by what wassing going on because he was telling the attorney general, his own boss, that, in fact, he didnt want to be left alone with President Trump and it was inappropriate for this to happen and he didnt get any kind of response at all from jeff sessions. But the white house is already offering its reaction. Here is the statement from the white house attorney. The president is pleased that mr. Comey has finally publicly confirmed his private reports that the president was not under investigation in any russian probe. The the president feels completely and totally vindicated. He is eager to continue to move forward with his agenda. So, guys, a couple of points here that the white house can sort of hang their hat on in terms of a silver lining. One is that james comey did confirm that as the president has said that he told the president on a number of occasions that the president personally was not under investigation. And the second point the white house can look to here and take some solace from is that comey sort of narrows the scope of what it is that the president was requesting of him by saying that this was only about the mike flynn piece of the investigation, not asking him to back off the overall russia investigation. Yeah. You get a different take no matter who you are listening to, which source it comes from. Eamon, lets stick with the investors for a moment. Seems to me we have two key issues. Number one, likelihood for impeachment which likely raises some uncertainty. They want to see that thats not there. And number two, what does it mean for the rest of the president s legislative agenda . On both of those fronts, is there anything definitive or what sort of answers and blanks does comey need to fill in today in the testimony . A couple of thoughts on that. One is the key thing to watch for is when comey will be asked whether all of this amounts to obstruction of justice in his view by the president of the united states. That will be a threshold question because that gets to the idea of the president having possibly committed something that could be regarded as a crime here. In terms of impeachment, that would go down that road in that direction. Its very early to even suggest that. But the other question, i think, more broadly for markets and for investors is this. What are the big den sumzs right now into the market of what the trump agenda is and whether its achievable this year or next . Im not sure how much the market is depending at this point on all of the elements of the trump agenda that we talked about earlier in the year that seem to create that big trump bump. I dont know if those expectations are still built in. And then the other question is whether or not the market views mike pence is better at delivering the trump agenda than donald trump himself. He think its a leap. What do you think the investor take away is . Yesterday when the testimony hit, the market did get a small lift. I think it relieved some of the suspension. And it narrows the issues a little bit. And by the way, whats left is investigations of the campaign and the transition for the most part in congress and elsewhere. It doesnt seem as if its necessarily bled into, you know, the post inauguration presidency. So i feel like the investors think maybe we already knew most of whats going to happen. Eamon jabbers, thank you very much. We will see you often throughout the day. Reminder, you can watch the live coverage of the hearing right here on cnbc, 10 00 a. M. Eastern, squawk on the street dominates all the front pages. Just to pick one, usa today, comey gets his turn. Apparently the bars are all opening Early Morning in d. C. For that. Its a washington super bowl today basically is the take away from that. A developing story this morning, south koreas military says north korea test fired several land to ship cruise missiles off the seas east coast today. The surface based missiles drafld about 125 miles into the sea of japan. The launch has come a week after the u. N. Security council imposed new sanctions on north korea. North has conducted nine ballistic tests as tensions with the u. S. Have risen. Turning to todays wall street agenda, weekly jobless claims thursday out at 8 00 a. M. Eastern time. Claims have been below that 300,000 mark for 117 straight weeks. Certainly a signal of a healthy and tightening labor market. As for on earnings, Dell Technologies reports results from the opening bell. J. M. Schmucker after the close. It is the other big risk events, i. E. , British Election, ecb, comey testimony. I dont think its quarterly Conference Calls today. Its not jm smucker call . As interesting as it might be. Coming up, were heading back to the uk to taup talk about the possible outcomes in the snap election. What they mean for your money. Plus, the one beer stock leaving investors with a total hangover today. And why amazon left some users barking mad yesterday. Okay. Got it. Rumor confirmed. Theyre playing. What . We gotta go. Where . San francisco. When . Friday. We gotta go. [ tires screech ] any airline. Any hotel. Any time. Go where you want, when you want with no blackout dates. [ muffled music coming from club. Blue monday by new order. Cheers. ] how does it feel the travel rewards credit card from bank of america. Its travel, better connected. The travel rewards credit card from bank of america. This is where i trade andrs. Manage my portfolio. Since i added futures, i have access to the oil markets and gold markets. Okay. Im 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. Welcome back to Worldwide Exchange. Im mike santoli. Alibaba says it expects Revenue Growth of 45 to 49 in the current fiscal year. Thats above analyst consensus. Alibaba posted 56 Revenue Growth in its lack fiscal year which ended in march. Tremendous growth for a huge company right now. Toshiba is aiming to name a buyer of its chips business next week. Theyve narrowed the base to two offers. Thats been a widely watched auction over there. The and staying in asia, samsung reportedly planning to invest 300 million in building a u. S. Appliances factory. The create Economic Daily says the South Carolina plant will manufacture products such as washingen machines and gas oven ranges. More stocks to watch. Chr Credit Suisse saying it sold more rights on sale. The company raising 4. 3 billion to fund its strategic overhaul. Shares love molson b coarse brewing, the Parent Company of miller. Veint systems, shares of the Business IntelligenceCompany Rising on that news. Still ahead, how todays uk election might impact the global markets, plus why big laufs could be coming to aol and yahoo . The details, ahead. Stay tuned. Youre watching Worldwide Exchange on cnbc. Good morning. Welcome back to Worldwide Exchange. Im wilfred frost in london why its 10 20 a. M. 5 20 a. M. On the east coast. The uk election is today. We will know the first indication of results in less than 12 hours. Im joined now by henry dixon. Good morning to you. Good morning. Thanks very much for joining us. Before we go about how to trade this touch on, whats your take about the latest poll results and how you think this might go . As we look at the really close polls that come out in recent days, i think we look maybe at the weight into the youth vote. That polling is slightly over 80 . As you look back through electoral history, the youth vote is much nearer 40 . There were fears about the weather and the turnout and i dont think that precipitated itself. From that perspective, the youth vote, rink it will grow very definitely. I think weve had very good policy from labor. I applaud it from that perspective with regard to the young and the tuition fees as a result. But i think it would be quite a stretch to get the youth vote up to the 80s. Turnover. Yeah. So at the moment, most people expect an increase for theresa may. Many disappointments about the campaign. The conservative campaign has been around the uk vote. There was some concern that uk voters might be sort of perhaps onetime voters. It was an issue that they wanted to solve. They feared it may not turn up again. But it seems that the uk vote will turn out in force and i can it feels right that it will turn out for the conservatives. I think its crumbled the uk vote by 50 and transpose it to the conservatives. That is how you get the reasonably large majority that many people were going for. How do we trade this . If we take lets take a Hung Parliament. I think, you know, that will be probably i think disappointing overall. It does seem slightly skewed to the down side. There are some people that think a Hung Parliament could be positive for sterling. And then clearly there will be those people that think labor performance would be quite positive. I would probably struggle with both of those outcomes, really. I think the uncertainty it would have for the Hung Parliament i think would not pave itself well for brexit negotiations. So i feel, therefore, it does feel the risk to the downside, but not nearly as marked as we saw in brexit. The day before brexit, i think its fair to say it was based on value. Today, definitely the right side of good value. And in terms of other trades youve been doing with high conviction, you do a lot of distressed asset trading in terms of that related to the election, your strongest conviction trade of recent days and weeks . Well, i think, you know, weve been very definitely, very, very keen with regards to the brexit bust that we saw to the back end of last year. I he just think without any intelligence insight, weve been encouraged to take a fair amount of its simply based on price targets. We take a lot of the good work that will be done in challenger share prices, a lot of the good work has been done. So weve been enkushlged to take profits domestically. Where we have invested our money overseas has revisit the Mining Sector which has been a notable disappointment this year. Earnings continue to come in ahead of expectations and theres knot now a louded depression around china. I think we see a community whose therefore, as time ee laps, we should get some pleasing estimates. Henry, lovely to see this morning. Thanks for joining us. Thank you. Guys, ill hend send it back to you at hq. Thank you very much. When we come back, this mornings top stories and a round up of global markets. Plus, more on former fbi director james comeys hotly anticipated testimony on capitol hill. But first, as we head to break, here is todays Weather Forecast from bill karins the. Good thursday morning to you. Finally, i have some good news to pass on. The storm in florida is exiting. Still coastal rain throughout the carolinas. But nothing that will cause an inconvenience for people at the beaches. Here is the good part. All the warmth is building to the middle of the country. George yurs spring weather in the midatlantic, ohio valley, perfect for business travel. Isolated afternoon storms in florida today. And into friday, the heat begins to build in the middle of the country. This is insome of on things to come. The heat wave is expected to be in the middle of the country starting the weekend and make it to the east coast. Get ready for summertime weather. More Worldwide Exchange when we come back. Think again. Tate . This is the new new york. We are building new airports all across the state. New roads and bridges. New mass transit. New business friendly environment. New lower taxes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. Ny. Gov tha. Oh, burnton gravy . Ie. Gotta rinse that. Nope. No way. Nada. Really . Dish issues . Throw it all in. New cascade platinum powers through. Even burnton gravy. Nice. Cascade. Good morning. Were calling it super thursday. Three major global events driving todays action. First, voting under way across the uk as that nation holds a snap election. We are live in london, straight ahead. The ecb meeting right now. Were expecting a Rate Decision in about two hours from now followed by a mario draghi News Conference. And former fbi director james comey heading to capitol hill this morning to deliver his first testimony since being fired by President Trump. Its thursday, june 8th, 2017. Youre watching Worldwide Exchange on cnbc. Good morning and welcome to Worldwide Exchange on cnbc. Im sara eisen. Here at headquarters with mike santoli. Thank you for being here. Wilfred frost is in lont covering the uk election. More from him in just a moment. Plus, wilfred, throw back thursday, throwing it back with songs from british artists. Not slow songs from british artists. That will be wilfreds. And david bowie, lets be honest, he was a new yorker. Thats true. Im glad these chose a bowie song, though. U. S. Futures up on the back of a mini rally yesterday. Dow futures are up 23 points right now. S p futures up 2 1 2. Nasdaq futures up 8. Mike, you said there was a little bit of a move higher yesterday when the comey testimony was released. Interesting because we knew this was a big market risk event but it gives us a clue as to what the market risk was around this testimony. I think the trading programs were sidelined, waiting for any information. And then they did have a bit of a reversal. It was narrow moves, but it went from negative to positive and it was pretty much timed right with the release of the testimony. And i think it was, again, relieving some of the suspension and essentially everything in there had been reported in one way or another. Also sort of removing that uncertainty factor around legality questions about the president and that whole at best its gray yeah, judgment call. Well see what comey says, though, later 10 00 a. M. Eastern. Absolutely. In europe, the big focus is on the ecb. The central bank will make a Rate Decision at 7 45 eastern followed by a News Conference by mario draghi at 8 30. Investors are expecting rates to stay the same. You see the euro right there. Its barely down, pretty much flat lining right now. It has priced in, i think, a lot of the better Economic News in europe which we got more of, actually. Which is why draghi may be more dovish. He doesnt like the strong euro. The weaker euro has been very helpful. On both sides of things, exactly right. If you look at the equity markets over there, pretty much modest gains across the board. German dax up. 3 . The ftse as the uk votes is just about the flat line. Italy is a slight underperformer right there. You did have some news today about more stress. Asia overnight, lets show you what happened there. You saw weakness in japan down. 4 on the back of a stronger yen overnight which has reversed this morning, but gains out of hong kong, up. 3 . Same kind of gains for the shanghai comp. Oil prices after a nearly 5 slide on yesterdays session on the back of that eia data on inventory showed a build in crude and gasoline stocks are reversing a little bit this morning. Rebounding. Wti back above 46 a barrel, up. 75 . Brent, 48. 48. Its up about almost a full percent. Nat gas higher, as well. Tenyear treasury note yield. This has been the stubborn one ticking up a little bit this morning, a little bit yesterday, but we are still below 220 on the tenyear super low yield. As for the dollar, this is super 30s so were going to watch currencies. Thats always the first litmus paper for how the market is interpreting. Its the euro that will move on the ecb. The dollar yen for comey and the pound for the British Election. Thats all you need to know today. Right now, were sealing a whole lot of nothing head of these big risk evens. A little bit of buying for the dollar versus the yen. Perhaps why youre seeing that in futures and early action in europe. Quickly, lets just show you gold, which is backing off a little bit. Its been stronger lately trading near a sevenweek high. Its down. 5 . This is another place you want to look today when it comes to policy uncertainty around the globe. Could lift gold. Ite up about 12 , 13 so far this year . So far, yeartodate. A lot of that came just this month. True. Wall street will be closely watched in washington again today as former fbi director james comey delivers highly anticipated testimony before congress. This will be comeys first Public Statement since being fired last month by President Trump. Comeys opening 125i789 was released late yesterday on the Senate Intelligence committees website. In it, can comey confirms that President Trump was never personally under investigation in the fbis probe of alleged ties between russia and trumps president ial campaign. But several times comey says he found the president S Communications with him, quote, concerning, inappropriate and very awkward. Comey also details the conversation he had with the president in which mr. Trump said, quote, i need loyalty. I expect loyalty. Comeys testimony gets under way today at 10 00 a. M. Eastern. We will have live coverage right here on cnbc. And, again, the investor angle is two part. Number one, what does it nooens means for the trump legislative agenda . When it comes to ambitious goals, the president speaking in cincinnati about getting that through the senate as fast as possible yesterday and the impeachment question which yields uncertainty. The market fell, that one big day, what was it, the week before last after the report that President Trump asked comey to stop the investigation. It feels like if this testimony is any indication, this jives with that, as you said it is in line with that. Nothing new and not a leap forward from that position. Even short of is the presidency itself in jeopardy, i think an impaired administration which is an ongoing slog. Meanwhile, youre hearing reports quietly behind the scenes senate is working on its own Health Care Bill and maybe you dont really know whats happening on the legislative front as everybody focuses on these investigations and hearings. Voting is under way across the uk this hour. Wilfred is in london with an update. Wilfred. Hey, sara, yes, indeed. And to discuss more about the possible outcome, im joined by robert wright, a political analyst at the Financial Times and tina fordham at citi. Good morning to you both. Good morning. Thanks for joining us. Tina, ill start with you been what is your latest take on the polls . A big lead for theresa may initially. Where do we stand this morning . It was a remarkable decline considering where we started out. But Jeremy Corbyn turned out to be a better campaigner than a lot of people expected and mrs. May seemed to struggle a bit in that department. Most pollsters, a wide divergence, actually. Six, sevenpoint average lead for the conservatives. Of course, turnout is always the key variable. And, robert, your poll of polls, the Financial Times poll of polls has that lead this morning at eight. What is the swing factor that could lead to a surprise corbin victory . Well, i think its hard to imagine a corbyn victory at this point. I dont think most people really expect that to happen. But what has been remarkable is the way that Jeremy Corbyn has been a much better campaigner than people expected. And really, the labor manifesto. It turns out that people expect spending promises. Theres lots in there for all kinds of groups of people and people have thats turned out to be successful. The conservatives gamble on an unpopular manifesto, a manifesto that was getting the public to take their medicine hasnt really worked. And tina, when we continue to discuss what is best for things like the pound, on the flip side that labor has potentially aimed as antibusiness policies, but they could be softer on brexit. How do we balance those two out . Well, i think market are expecting and have priced in a conservative victory, a labor victory would see a selloff, mainly because markets dont like surprises. Im not sure Financial Market participants have processed the idea that you would have a softer brexit just yet. But dont forget that there is also Hung Parliament risk. I think that would away Political Risk for markets. And furthermore, the possibility that a weak conservative victory could lead to a leadership challenge. And another vote, im sure voters wouldnt look forward to that. Robert, in terms of what people around the rest of 50u89 europe are thinking and how theyre looking at this election, what do you think the opinion is and, of course, brexit negotiations due to start in just a couple of weeks. Brexit negotiations are due to start and theres an expectation that they could be very difficult. So mrs. May called this election to get a really firm mandate for brexit. It looks like she might not have that. So that is another risk for markets. That is a thing that people are going to be worried about that she isnt going to have that very strong position. And i think we could see with, really, further political turbulence in the uk after this election because the brexit negotiations are going to be difficult. At the moment, were in the phony war phase. You go around, you speak to people, people are still sort of thinking about it in terms of what they thought about it at the time of at the time of the referendum. People are going to start seeing some real hard practical decisions being made now. And tina, for the fourch of the european project itself, put into perspective how important this election is compared to, you know, 12 months ago, the brexit vote, but also the italian election thats come up. Which is the most important for the future of the eu . Well, certainly, its the italian elections. And that has been the kind of political time bomb thats been ticking because we have an overtly antieu euro skeptic party fivestar movements leading the pack. And even more significant for italy is the fact that the rest of the Political Party landscape is in disarray. So it makes for nervous nervous times for markets and, of course, all of these elections this year have been about the risk of euro disintegration. So a big hurdle for the uk today and other hurdles for europe still to come. Tina, thank you very much. Robert, thank you, also. Sara, back to you at hq. Wilfred, thank you. We want to hit Corporate News this morning as well because layoffs could be coming to aol and yahoo . Landon dowdy has been tracking this for us this morning. Aol and yahoo could lay off up to 1,000 workers if and when their merger is completed. Thats roughly about 20 pirs of the combined companies workforce. The layoffs arent completely surprising given that aol and yahoo overlap in areas like human resources, marketing and finance. Yahoo is holding a special Shareholder Meeting later today to vote on its planned sale to ver vison, which owns aol. That deal has been in the works since july of last year. The combined company will be named in a statement consistent with what we have said since the deal was announced, we will be aligning our strategy. Shares of yahoo are up about had 2 in the past year. Shares of verizon are down about 10 . Arent you glad you dont work at yahoo any more . For several reasons. And yahoo has been shrinking for 15 years, and aol, as well. By the way, those two companies when they were snptly traded if there was a version of fang in 1999, they were there. Amazons website, speaking of fang, the current version, is working normally today after customers across the u. S. Werent able to access it for a short time yesterday. Many shoppers were sent to a page saying sorry, something went wrong on our end. When they clicked the product, a different picture of a dog greeted them each time. The cause isnt clear and amazon hasnt commented. Out aemgs are rare for amazon. Why did they put a dog, to cheer people up . And it runs ecommerce sights for many others. I wonder, the psychology of a dog it may be comforting somehow, yes. When we come back, were heading out to election to see how the British Election is playing out in the papers. Also, we await another News Conference from the ecb. Margo draghi is getting a lot of attention today, maybe more so on a day where hes accompanied by an election. Still, always moving market comments ahead of that. Worldwide exchange will be right back. Poik. Were going to do mustroads, front pages, all of it. Got to start with the washington post, jim comey. Its actually from a republican and the title of the oped, comey is a disgrujted ex employee and thats how the senate should view his testimony, penned by Jack Kingston writing, nevertheless, i hope that the former fbi director will stick to the facts and not seek to exact spiteful retribution on his former boss or participate in the lefts deliberate campaign to undermine the Trump Presidency are rumors, false hoods and disinformation. I picked it because i was surprised to see it in the washington post. The journal took a critical take on jim comey and politics, which has been a consistent position for them. But you dont have to look far to see a lot of the papers going after President Trump on what was released yesterday. So everybody has a different take on this. Beale have to watch the testimony, see how comey answer dollars the questions. The wall street journal editorialal essentially said the testimony at worst shows that the president was kind of naive and narcissistic about wanting reassurance that his own victory was not being kind of undermined which, of course, had has been a preoccupation. In other words, he wasnt trying to obstruct justice. He wanted personal vindication. And i think thats going to be the ultimate upshot question, is this a character judgment on the president and the former fbi director or are there more serious legal questions that fuel this russia investigation even farther. And that will be hopefully what well get answers to. My pick is in the wall street journal staying away from some of the biggest stories of the day. Buying more chevys wont fix termnys trade imbalance. Jason writes, the solution to this problem is not for german toes buy more chevys and fords, instead, it is to increase germanys domestic demand, faster wage growth leading to consumption of health and the key is stronger investment. Tariffs are low. Essentially, they save too much and they invest too little domestically. That nets out to a huge trade imbalance which is not necessarily going to get much traction in the administration b, but i thought it was interesting that berman agreed with trump that maybe the german surplus is a problem. It is. Its unwielding. But he did say that the solution is something that President Trump doesnt like which is Multi Lateral agreements to try to balancing he also doesnt talk the currency which is that germany within the euro, the euro is far weaker than a german specific currency would be. Lets bring in wilfred. We noticed this sun this morning is all over twitter. Boy, those british papers can be quite colorful. They put co are rbyn in a trash can. They did. They say code chuck britain in the corbin. I miss the red tops and the sun very much going for the right wing position. On the flip side, we have the daily mirror saying lies lies and theresa may. Dont condemn britain to five more years of tori broken promises and a rather unflatering picture of the Prime Minister. So two sides of the argument there. The times, a little more balanced this morning, a picture of number ten. Who is going to get the keys to number ten . They say tories take sevenpoint lead in final poll. And just two days earlier, that was only four points. The last couple of days has seen theresa may step back into the leader. General, its slipped a lot from 20 points. Finally, i want to show a really Worldwide Edition of wex today. It says, an election of double or quits for theresa may and goes on to say that her lead has melted and that she would announce this in order to strengthen her brexit position and it sort of celebrates the fact that her lead has melted, double quits for theresa may. All of europe watching this poll today, as well as the uk, twice. Do people trust the polls in the uk after they were famously so wrong on brexit . Did they change their methodology at all . Well, they werent just wrong on brexit. They were also wrong in 2015 general election, as well, where they underplayed how well David Camerons conservatives did. Brexit was slightly different. Yes, they got it wrong and they have to answer that. But it was this untested Single National vote whereas this is 650 individual constituents that make this different. Bottom line, the polls, we keep talking about the ft poll about eight points, but the lead individually ranges from 1 to 12. Whichever one you look at, some of them are going to be very wrong. Hard to go with the poles, but bottom line, a lot markets betting and financial expect increased theresa may lead. The question is just quite how big that majority ends up being. Wilfred, that you can. Maybe the french can go on how well their polls did in their own election. They did. They were quoting today about theresa may. We are approachinging the top of the hour so that means the team is getting ready for South Carolina in the city. Andrew ross sorkin is back in new york with a look at whats coming up. You can imagine what were going to be talking about. I imagine we will be back to wil to talk about the uk elections and what that all means. I should tell you before we get to the main event, we had jeff henceling on earlier this week, but today were gok going to talk about the choice act and where thats going. Theres a lot of news that may happen while even were on squawk but, of course, the main event later in the day is going to be comey, comey, can comey. We will break down all of the possibilities with the number of experts. I dont even need to tell you about them because you know them and you know the topic. So thats whats coming up on squawk box southbound. Youve got mario draghi, and it doesnt get better than that. Well be watching krn all day, andrew. Thank you. Coming up, a trifecta of market moving events as weve been talking about on the agenda and we will help get you ready for the wall street trade dag ahead when Worldwide Exchange comes right back. Hey dad, come meet the new guy. The new guy . What new guy . I hired some help. He really knows his wine. This is the new guy . Hello, my name is watson. You know wine, huh . I know that you should check vineyard block 12. Block 12 . My analysis of satellite imagery shows it would benefit from decreased irrigation. I was wondering about that. Easy boy. Nice doggy. What do you think . Not bad. Looking from a fresh perspective can make all the difference. What do you think . It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Theseare heading back home. Y oil thanks to dawn, rescue workers only trust dawn, because its tough on grease yet gentle. I am home, i am home, i am home welcome back to Worldwide Exchange. U. S. Futures are pointing to a higher start on wall street, about 0. 1 at the this hour. Dow futures up 21. On a day like today, draghi, comey, British Election, just stay on the sidelines or are there trades to make . With the, we think these events would be more concerning if the economy werent so strong. You have both fundamentals of economics and corporate earnings in the u. S. And also abroad. Thats one of the first times this has had happened over the entire cycle. So to a large extent, the events that were seeing are somewhat distractions for most investors. The idea is that if we can get he past these events the way we got past the french elections, then we could see a relief rally here. So, you know, we still like the u. S. , but we think that international markets, especially emerging markets are still attractive here once we get past these events. That back drop, it seeps like there is an unusual amount of agreement that, yes, we are in one of these phases where the Global Economy is kind of, you know, kind of in gear right now. Have markets pretty much accounted for that at this point, do you think . To some extent. So post the election, we were in this global goldilocks, global synchronized phase. We think thats obviously positive. We take it for what it is. But at the same time, thats more the exception than the rule. So to the extent that markets have priced too much of that in, we would be a little bit cautious here. After all, in the u. S. , were laid in the cycle. Unemployment is at 4. 3 . If we get another two or three years in this cycle, we would with we very lucky. You look abroad and theyre earlier in the cycle. There are tailwinds that are helping propel them along, including the weaker dollar, and we think that there are more attractive opportunities right now elsewhere than in the u. S. I know you say its a distraction. Nevertheless, investors will be glued to the comey testimony today. What is the big risk for markets overall out of this . Just to be clear, its a distraction from the market fundamentals. But, you happen, its still an important event especially from a government and u. S. Perspective. The biggest question will be the markets rallied significantly. Were still up about 13. 5 since the election. So, you know, from a policy making perspective, can we still get tax reform . You know, people also care about health care, they care about other trade policies. So me, tax policy is the most important thing. You know, they keep talking about, you know, the goal posts of of when were going to get that. They mentioned august and at first waits the first hundred days. If we can get some sort of comprehensive tax reform that somehow beats the markets expectations which, you know, may or may not be likely, then you could see another leg up to this rally. But, you know, for the moment, we would be relatively cautious. The ecb, any real prospect of a surprise, change in tone, anything like that . So we think its very unlikely to see a surprise. So, you know, maybe they talk about more balanced risks, they change their language a little bit. Butport most part, we dont anticipate a change in rates. We dont anticipate a change in the amount of q with e, 60 billion euros a month. But its very likely that, of course, the ecb will continue to normalize policy over a very long period of time. So that is really the big question for europe. Can they get to a more normal policy. And we think thats justified, but we think there are better opportunities elsewhere. James lewis, thank you for joining us on a big day event. Few seconds left, wilfred, give us what you are watching out of the uk today. Listen, polls have been open for four hours, sara. Another 11 hours to go. 5 00 p. M. Eastern time, we will be glued to the initial exit polls, the firstcation of the result coverage throughout the day here from london on the uk election. Wilfred, we will see you throughout the day on cnbc. Be sure to stick with us. Draghi conference coming up this morning. Comey testimony at 10 00 a. M. On squawk on the street. Good morning. The british are voting. Polls are open for the uk election. Former fbi director james comey is set to testify on capitol hill about his meetings with President Trump. Weve got the highlights from his prepared remarks and what kind of reception he can expect from lawmakers. And the ecb out with its latest interest Rate Decision this morning. Well show you whats happening in all the currency markets and the bond markets. Its thursday, june 8th, 2017 and squawk box begins right now. Live from new york where business never sleeps, this is squawk box. Good morning, everybody. Welcome to squawk box here on cnbc. We are live from the Nasdaq Market sight in times square. Im become becky quick along with joe kernen and andrew ross sorkin. Lets take a look at equity markets this morning. Theyre up once again after closing higher yesterday. Stocks yesterday moving up after the release of comeys testimony. They didnt see any smoking guns. Some morning, you can see dow futures are indicated up by about 24 points. S p futures up by just over two, the nasdaq up by eight. Overnight in asia, take a look and youll see that the asian markets have been trading cautiously. The nikkei is down by about. 3 . Closed down by. 3 . The hang seng and the shanghai composites ended u