Good tuesday morning. Welcome to squawk alley. Jon fortt has the morning off. Dow is down almost a hundred. Almost all of that is gold aman and j j. The president expected to sign an order today. Hell tour the factory in wisconsin. The order targets loopholes in rules requiring Government Agencies to buy american. The Administration Says there are too many waivers in those rules tucked inside the free trade. The move is praised as a smart step. Second part of the order deals with immigration directing Government Agencies to root out immigration fraud and the white house also wants to move away from using a lottery to help decide who gets an h1b visa. Tech ceos have pushed back on this issue. Bill gates, elon musk have been discussing this with Jared Kushner and the message to the president on h1b, mend it, dont end it. Back to you, carl. Well come back to you for more. Todays order will have ripple effects across the economy including some of the biggest tech firms in Silicon Valley. P
Right now. A very good morning and a warm welcome to Worldwide Exchange. Im wilfred frost. Live from the site of the eu summit. Sara is on her way across flying back from london to the United States. Holding the fort for us in cnbcs headquarters, lets go back to them. Dd, over to you. We have seeing perhaps a little bit of carry over from yesterday. Again, were seeing s p 500 looking to open up. The nasdaq futures showing a 22 point gain there as well. If you take a look at whats happening with europe, were seeing carry through from the european markets, the dax in germany up north of 1. 5 percent. The cac in france, the ftse, is mib and both up by two and a quarter percent as well. As for what happened in asia lets check out those boards as well. Knee cay in japan. Lets take a look at some of the more traditional safe havens and see if that trend continues youchlt are see the dollar come off recent strengths. Of course we saw a huge run off. U. S. Dollar trading about 1. 10. The pound
You are talking about the mini budget . Yes it would take longer to rebuild that reputation than to rebuild the gilt curve. Siemens on the turn and the c ceo says he is bullish despite the outlook. And defending the move that sparked the downfall of ftx as the head of binance speaks out he lied to investors and regulators and users and there has been misappropriation of user funds i think all of those things happened in my definition, thats fraud. And investors find an explosion in poland was not part of the deliberate attack from russia it is important to keep the pressure on moscow it is not a question of saying if we do nothing it will go away. Its not going to go away. These reality. Well, the countdown is nearly over. Today, the uk chancellor jeremy hunt will make budget announcements after forced to review and revoke the mini budget he is set to raise taxes for everyone in the country and trying to reassure the markets and plug a financial hole estimated in the tens of billions o
Correspondent, helen catt. Are you going to resign, mr cummings . Did you leave the family home in County Durham well you were there because mike Dominic Cummings is facing more questions about his decision to travel more than 250 miles with his wife, ill with suspected coronavirus, to seek back up childcare. Suspected coronavirus, to seek backup childcare. Now some conservative mps have broken ranks to say it has to stop and he has to go. I think his position is untenable. It is because of dominics slogans around these rules that mums and dads, grannies and grandpas across the country will have felt they had to stay at home if covid got into their families. They also mike care about their children. The last time cummings was spotted in downing street before developing covid symptoms was the 23rd of march. He spent the time at afamily 23rd of march. He spent the time at a family property in County Durham is where conservative mp grant shapps said yesterday he had stayed put. But fresh
Theres growing pressure from within the Uk Conservative Party for borisjohnsons top advisor, Dominic Cummings, to step down, because of allegations that he broke lockdown rules. He and the government say he acted reasonably and legally by driving from london to County Durham for childcare reasons while his wife had coronavirus symptoms. Theyve also dismissed as inaccurate claims he was seen in the north east of england on two more occasions. Several senior tory mps have called for mr cummings to resign. Mrcummings, are you mr cummings, are you going to resign . Did you return to durham in april, lots of people want to know this morning. I did not. You didnt return . Well i am keeping my distance, how many times have you left london during the lockdown, mr cummings. Did you leave the family home . Do you think you are above the law . Multiple mps have called for you to go, what do you say to them . Why didnt you stay in your primary residence mr cummings, as the government stated . Why