let's get to the global market picture. let's look at a start to the year which has been the best start to the s&p since 2003. the first nine trading days of the year up 4.2% on friday the dow was up 0.9 the other two indices up 0.7%. week to date about 1.5% to 2% of gains. this morning, as you can see, resoundingly positive start in the premarket. dow up 271 points. the s&p up just 14 the nasdaq up 38 very much the dow surging higher this morning ten-year treasury note for you which has been in focus, last week yields rose in lieu of international yields rising at the start of the week, but then gave up some of that gain towards the back half of last week we're at 2.53% we got very close to 2.6 early part of last week. look at the mood in asia the nikkei at a fresh 27-year high, up 1% in today's trade hang seng closing actually at a record high, 31,904. stocks there up 1.8% the shanghai composite up 0.8% south korea seeing gains of a similar amount the key economic data in asia will be china's gdp print on thursday the dax up 0.7%. interestingly enough, european stocks yesterday moved lower on the back of the outperformance in the euro. today stocks in europe are rebounding checking in on commodities oil had a great week last week up 0.7% on friday. up 0.4% for the week as a whole. this morning 64.4. nat gas was up sharply last week with the cold weather. also this morning giving up 3% gold prices, just to round things off, up about a percent last week, broadly flat today. 1334 the price a key market of the global rally is the foreign exchange markets with a weaker dollar three-year low, that's where the dollar was trading at yesterday. a bit of a different story today. the euro 1.22. the u.s. dollar higher against the yen by 0.15% the pound yesterday at 1.38 against the green back the last time had traded at that level was june of 2016 around the eu referendum. bitcoin is moving the opposite direction of stocks, sliding as much as 10% in the midst of one hour on more regulatory fears. bitcoin trading down by 17% below 12,000 just one economic report of note the empire state manufacturing index is due out at 8:30 eastern. earnings season gets under way four dow components and 25 companies reporting today. today we hear from citi group and united health before the open, csx after the close. bp expecting to take a 1$1.7 billion after tax charge in the fourth quarter for claims related to the deep water horizon settlement the company says the claims program is now approaching the end. bp says cash payments in 2018 related to the case will be about $3 billion carillion is getting focus the uk's largest building firm collapsed yesterday when banks pulled support that forced the government to step in and guarantee public services carillion fell into liquidation after a slump in new business and costly contract delays left it with about $3 billion in debt and pension liabilities. u.s. lawmakers are reportedly urging at&t to cut commercial ties with huawei due to national security concerns. earlier this month at&t was forced to scrap plans to sell hauwei phones after some members of congress lobbied against the idea. softbank is offering an ipo for its japanese wireless unit >> softbank is considering a public offering of its cell phone unit, reportedly listing about 30% of shares in tokyo and perhaps london analysts say listing those shares would raise about $18 billion making it one of japan's biggest ipos softbank's japanese telecoms business is the cash cow making up nearly half of the earnings the firm calso controls sprint i the u.s., but some have been concerned about the large debt load with interest rates rising. recent investments include a 7 $7.7 billion stake in uber shares of softbank rose 3% in tokyo on monday. they closed up about 2% today. >> thank you very much for that. citi group plans to increase compensation for women and minorities in the u.s., uk and germany. the move comes after citi's internal data shows women are paid on average 1% less than men and non-minorities make. citi is the first bank to respond to shareholder pressure and publicly disclose gender pay data they report numbers at 8:00. you would have to say 1% doesn't sound that bad >> yeah. >> versus, you know, i'm sure there's bigger disparities elsewhere. good to see them rectifying that when the numbers come, key to watch, not only the tax aspects, but the tax aspect force them is more important in political news, president trump and chinese president xi jinping talked about north korea during a phone cal overnight let's get to eunice yoon live in beijing with the baitest alatest >> this morning president trump and president xi had a phone conversation where they talked not only about north korea but also about trade the chinese state media has been reporting that president xi told president trump that the two countries should further open markets to each other and reestablish dialogue at all levels to resolve economic and trade issues and on north korea, president xi said that china was ready to work with the united states and that recent hard one momentum from positive developments should continue. now, these statements don't really deviate from the standard line that we hear out of the chinese government and the foreign ministry did not provide a lot more detail. the u.s. embassy we also called, and they didn't have much more to add other than to say when washington opens, we should wait to see whether or not there's another statement or remark out of the white house what was interesting about the call is the timing of it all here in china there's been an expectation that we could see more aggressive action on trade against china out of the trump administration as early potentially as this week just last week, last thursday, the u.s. commerce department had submitted a report to the white house on steel and investigating whether foreign steel imports were a threat to national security also there's a report that is expected to be submitted next monday north korea, the issue there and the timing there was that 20 countries in vancouver are meeting to try to find new ways to squeeze north korea even further, but conspicuously china is absent. guys >> thank you very much for that. eunice yoon for us. still ahead, the three big things to watch from the big three automakers this year we're live at the detroit auto show. as we head out, another check on the rally in futures and what is setting up to be a strong day on wall street. your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. 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. but through goodt times and bad at t. rowe price we've helped our investors stay confident for over 80 years. call us or your advisor. t. rowe price. invest with confidence. welcome back to "worldwide exchange." dow futures rallying sharply, up over 200 points this morning 270 to be precise. that's just shy of a percent or so now and the s&p, nasdaq also nicely higher in the premarket. 0.7% for each of those it will be a strong open if we look at the dow components that are trading in pret me inie premarket, p&g is the out-performer. there is a broad rally lots of companies enjoying a move dow expected to open 270 points higher. the world's top oil company is not concerned with the threat of electric vehicles phil lebeau caught up with the top technology officer at the detroit auto show and talked about their performance on improving efficiency in combustion cars. >> the independent forecasters believe that internal combustion engines will be the majority dominant power source for vehicles if we want to do something about reducing emissions, we have to do something about improving the efficiency of internal combustion engine. >> if we're at 25 miles per gallon right now, where can we be 20 years from now >> many of the cafe standards are targeting 50 to 55 miles per hour in the next ten years >> 50 to 55 miles per hour >> 50 to 55 miles per gallon >> yes >> that's across the fleet >> these are tough challenges. if you look at the cafe standards around the world, they're targeting that tough target we think by looking at these technologies, rad kaical technologies, they can be applied and get us there >> aramco's trillion dollar ipo is expected late their year. phil lebeau joins us live from detroit what are the big themes at the auto show this year? >> the one that stands out the most is the emphases on pickup trucks the big three all rolling out new models this is what we'll be seeing over the next couple of years, expanding that market because they're high profit, high profit market vehicles. here is sergio marchionne talking about how much further that market could grow >> if you got to a quarter of the market being cars, everything else being pickups and sufvs, you got it right this is a structural change. the capacity in trucks will be used >> another topic getting a lot of attention what will happen with nafta this started last year, and over the last year we have not seen anything definitively come forward in terms of how this agreement will be restructured, if it will be restructured gm's ceo marry bar y barra know company along with chrysler and ford have a lot to lose if this agreement is ripped up here she is talking about what's at stake for general motors. >> when i look at our company, there's so much more work and negotiations to be done in nafta. we've seen the administration last week express timing we will work to get a modernized nafta agreement. >> finally there is optimism that 2018 we may not see a market in the u.s. where auto sales fall as much as many people were initially predicting many people were saying it could be under 17 million this year. that was the expectation i would say over the last six months, now we're hearing more optimism from various executives jim lentz from toyota talked about it yesterday >> it's incredibly strong. we think the market will be 16.8 this year. i could be off on that it could tick up to 17 again we think there's a couple hundred thousand units of tailwind caused by the tax plan. >> if we see sales tick up to 17 million for 2018, that would be a surprise to a number of the forecasts that were put out over the last three months where everybody said it will be 16.7, 16.8 million for total sales this year. perhaps that might be on the low side back to you. >> we got some numbers out this morning from some french automakers, peugeot and in terms of decent sales numbers for them is that something that will rebound the whole sector or just a couple of the french guys playing catch up >> a bit of them playing catch up but also that entire western european auto market had a nice upward trajectory. most expect that to continue through 2018 and into the first half of 209. >> tiphil, great stuff. up next on "worldwide exchange," more on this morning's big rally with the dow futures up more than 250 points. first, do you have a mona lisa smile at google did over the weekend that got everyone snapping selfies. with the elevator. right. but you want to fix it. right. so who sent you? new guy. what new guy? watson. my analysis of sensor and maintenance data indicates elevator 3 will malfunction in 2 days. there you go. you still need a pass. welcome back to "worldwide exchange." let's look at the futures board. the dow expected to open higher. up about a percent or so to upside the nasdaq and s&p also higher 0.7% higher for both those two, coming off the best start of the year since 2003 with the s&p up 4.2% in the first nine trading days we're up about a percent and a half to 2% last week with a decent session on friday this extraordinary rally continues. companies ramped up investments in i.t. last year with total spending reaching 5 $3.5 trillion. spending expected to increase over the next few years, but there are some risks joining us to discuss is john lovelock from gartner, they just published their i.t. outlook for 2018 pleasure to have you on the show watching stocks at a record high, dow within reach of 26,000 how important of a role has tech played in 2017 >> 2017 was the best year for tech i.t. spending you know, since 2009 we've come off some lows we've seen the shifts in spenting start to happen people are coming back to cloud, to server, to software some of the lows have come out so 2017 was the best year we've seen and will see. 2018 is higher in u.s. dollar terms at 4.5%, so we won't see ceos trying to explain currency headwinds. overall about 3.2% in cost and currency terms so the world has hit a new plateau in terms of spending for i.t. >> it looks like enterprise software was the area of real growth in 2017 and the area your r. you' you're forecasting for more growth this year >> software is leading everything the fact we can invest in software without the ancillary services you can just get the cloud, you don't have to get the server, infrastructure and implementation that's squeezing dollars from other areas into the software area enterprises have to fix their foundational systems going forward if they're ever going to get the digital business, that means starting with software >> i note data center systems, you're not forecasting growth for 2018 what does that mean for cloud computing companies like amazon, azure, does that mean companies will be using their services or is it saying they're not investing in cloud computing software with the likes of amazon anymore either? >> it's -- the server market is a tricky one we came off of a high this year, 4.5% growth due to the fact that memory got more expensive in the servers. that brought the price up. cloud people don't buy from typical vendors. they're not buying from hp, lonovo or dell, they're getting self build, and self build systems are much cheaper, so much of the server spend is going into the external server provider cloud compute is in a separate area that is forecast and it's growing strongly 35% growth in cloud compute this year it's a shift in premises for us. >> john, thanks for joining us this morning time for our top trending stories. social media was flood with selfies this weekend but not the kind you would expect. google's new feature compares your selfie with the company's catalog of historical artwork and finds your so-called lo look alike it shot to number one app over the weekend. this morning seema and i have given it a try here's mine. this is is not bad a shame i'm not wearing that same hat as him. >> here is mine. the portrait of anita ramirez in black. >> oh, dear. that's rude. >> either way, it gets us talking about art. >> well, anita ramirez i'm sure is a lovely person, you are definitely more beautiful. >> thank you >> my apologies to anita >> fun what a fun app. >> mine was similar. >> i was going to say the nose next trending story. >> cvs is vowing to put an end to altering beauty images in its stores starting in april the drugstore chain will not digitally change any images it creates for stores or marketing materials cvs says the company has a responsibility as a business whose customers are predominantly women. perhaps a good move in the right direction. >> so you have to make sure you use the right one on the google app as well. the lights are back on in saudi arabia's movie theaters after the kingdom lifted a 35-year cinema ban theaters reopened to the public. one of the first screenings was a feature of the emoji movie and captain underpants if you waited that long to show movies, you could choose something decent this is for the kids >> it is >> assuming most people who want to go are young. >> last week, for the first time, women could attend a soccer game in a stadium things moving in the rigt direction. >> they should get some better films. >> lyft is getting into the beer business the company is going to make its own craft beer called five star lager. it's only available in bars, and each can comes with a code for a lyft discount. kind of counter intuitive to stop people from drinking, but i guess it gets you drinking in the car versus at the wheel. >> no, you can only drink in the bar yourself but if you're going to be drinking in a bar, you won't be driving. >> that's right. >> but it's kind of a niche way to get people to use lyft over uber maybe it will work it's that young millennial type thing that might work. i guess most important thing is the beer has to be good or else it will fall flat. >> lyft was saying the night life audience was a big customer for them maybe it will work. still ahead, the top stories and a round up of the global market picture and the trump white house one year later a look at the legislative score card as the president approaches his first full year in office. and as we go to break, a check on u.s. futures. the dow on track for a 260-point gain in premarket. "worldwide exchange" will be right back mom and dad got a new car... with the extra third row of seats. they think it's theirs. look at them, they have no idea! it's not theirs. it's mine. mine. mine. mine. the new lexus rx 350l with three rows for seven passengers. are you excited about your baby sister coming? experience space for the unexpected with the rx l, part of the rx family. experience amazing at your lexus dealer. dow futures surge and asian markets hit all-time highs >> oil sitting near three-year highs despite some mixed messages from opec. and trump nomics, trump gets ready to celebrate his first year in office it's tuesday, january 16, 2018, you're watching "worldwide exchange" on cnbc. ♪ good morning i'm wilfred frost. >> i'm seema mody in for sara eisen. let's get straight to global markets and look at where futures are trading here the dow setting up for a strong open with 26,000 within reach, now up 266 points in premarket trade. nasdaq higher by 40. s&p up by 16 points. some stocks that hit record highs on friday include a lot of retail e-commerce names like amazon, best buy, even comcast trading at all-time highs on friday look at asia, a global stock rally that we've seen, a story that we saw in 2017 as well with the japanese nikkei trading at a 26-year high, up 1% overnight. hang seng higher by 1.8% strong session in china, south korea, economic data to keep into account this week will be the gdp print due on thursday. a quick look at europe early trade there, and it's a positive session across the board. the dax up 0.9%. france higher by 0.4%. the ftse 100 just around the record high at 7,780 a look at bitcoin, a very different story there, a significant drop of 15% to the down side for bitcoin. a six-week low now trading at 11,710 >> let's look at the currencies as well as we go into a discussion with eric vallore from wells fargo securities. good morning to you. thanks for joining us. let's talk about the dollar move we've seen positive data here. expectations for a rate hike increase for march, yet the dollar slipped significantly the back end of last week. >> this is similar to what we saw in 2017 where the u.s. data was steady to solid. the fed was raising interest rates, yet the dollar was still falling. so you have to think about it in a global context, not only consider what's happening in the u.s., but what's happening outside of the u.s outside of the u.s. we're seeing more synchronized global growth, banks providing signs that they're moving in a less accommodative direction and that's lifting foreign currencies >> clearly we saw u.s. yields rise last week, that wasoutdon by rises in international yields, which goes along with what you're saying if we take the ecb and the euro, which had a great couple of days thursday and friday, we're not realistically going to see rate hikes for well over a year, are we once we start seeing the u.s. hike, will that reset peoples mindset in terms of which currency should be outperforming? >> we say that each subsequent u.s. rate hike is probably having a less positive influence on the dollar. with the fed having moved some ways along its tightening cycle, that positive u.s. dollar from the fed rate hike is becoming lesser an lesser with the ecb in the earlier stages of monetary tightening cycle, that's having an effect on supporting the euro this is similar to when the dollar strengthened in 2014 and 2015, when the fed was doing its own quantitative easing program. for the euro and with the ecb in the early stages of its monetary policy cycle where it's gradually lessening its accommodation and eventually getting closer to that first rate hike which may not happen until the early part of 2019, that's having a positive effect on the euro. >> the qe retreat, whether it's japan or europe, does that make you more bullish for the specific currencies? >> that is supportive for the currencies more so for the euro given that the ecb is having a more active discussion with respect to moving towards more normal monetary policy settings in japan and with the bank of japan, there's been some hesitation or reluctance to signal that they are moring in that dr moving in that direction they want to be more comfortable with the overall trajectory of inflation in japan before we get those signals. so we would expect that the euro could be a stronger performing currency >> any thoughts on bitcoin we don't classify it as a currency, any indication that bitcoin and the money going into cryptocurrencies impacting fund flows or what we're seeing in the traditional currency world >> we don't place much emphases on bitcoin or regularly monitor it we ten to focus on the traditional currencies in that respect. we see an overall trend of broad u.s. dollar weakness >> in terms of emerging markets what do you expect >> we expect strengthening in the emerging markets today you have a benign market mood global equities are continuing to increase, global growth again is becoming more synchronized. that's a portative environme sut >> eric, good to see you this morning. turning to the energy market, we are seeing significant moves. crude oil prices sitting near three-year highs despite some mixed signals from opec. let's bring in helema croft from rbc capital markets. great to see you >> thank you for having me >> over the weekend there was a big global energy forum, what were the takeaways this was the first energy forum we saw the debut of the new opec president. he was absolutely resolute that now is not the time to talk about exit strategy. there's been some speculation the iranian oil minister had been out saying opec is uncomfortable with brent prices above 60 there were concerns that the russians would be looking for an exit ramp once we hit 70 brent the message from the opec leadership is we're staying the course iraq's oil minister there, they always give a little heartburn because they were critical about the terms of the initial agreement, they talked about ramping up production, they also said now is not the time for exit >> the russians not formally part of opec this is a big year for them. do you feel if prices stay where they are and we get through the presidential election and the world cup as well, do you think then that their resolve to stay committed is lesser? >> this a big question mark. the russian corporates were out there saying we don't know if we want to roll this over we are low-cost producers. we want a clear exit strategy. the big question in russia is what does the boss man want? the boss man is putin. an article this morning was saying russians are look to ramp up social and infrastructure spending so some constituencies in russia benefit from a higher oil price. the question is what will putin do once he gets past elections >> oil this year up 7% in 2018 does the commentary you're seeing from opec justify this big move in oil? >> the fundamental picture is definitely improving the demand picture looks good for next year. the question is how do we move beyond current levels based on fundamentals the thing always to watch is is there a geopolitical story that pushes us higher fundamentals, we look like we're reaching the top of the range now. >> close to $70 on brent we were at $26 in early 2016 what's your outlook? >> again, we think fundamental perspective we should be reaching the top, but i look at the middle east. i look at the continuing tensions between saudi, iran i think the nuclear deal is on life support i cannot see it being rolled over for the full year then venezuela is always the country to watch their production is falling so fast now what about the cold weather? has that pushed prices up artificially at the start of the year >> it's a factor in terms of refinery runs. looking at inventory drawers the cold weather demand is a driver for that. that's one thing opec's president was out saying we could see softness in q2. we are not focusing on daily price movements, we're focusing on the yearly average. >> are you concerned about the dollar this year is that a short-term factor? >> that's a constructive background that's one story driving prices to this level. we focus onamentalfundamental. >> when does u.s. shale production kill this oil rally >> this is the thing pessimists say it will kill the rally in the back half of the year but you have to look at the demand picture if demand stays strong, if venezuela is down 700,000, 800,000 barrels a day, then you can accommodate u.s. shale >> thank you for joining us. president trump making one year in the white house this week we're looking at how his campaign promises stack up against his first year in office eamon javers joins us with more from d.c good morning >> good morning. we're almost one year away from president trump's inauguration, anniversary, january 20th was the day he was sworn in. how is he doing so far it's been a cavalcade of controversy in the first year. it's been a revolving door of staff in the white house, but president trump is making progress on some core things he promised voters he would do. look at these five promises president trump made on the campaign trail he said he would repail and replace obamacare. he said he would build a wall with mexico and make mexico pay for it he said he would cut taxes, cut regulations and renegotiate nafta? how is he doing. take them one by one repealing and replacing obamacare, that's a work in progress he's been able to repeal the individual mandate, but not the entire law the president says he is still going to do that but there's no movement in congress right now for that. no evidence that he might be able to get that done in 2018. on the wall itself, building the wall, making mexico pay for it give that one an incomplete. no wall under construction in a significant way. they promise to pursue payment from mexico through nafta negotiations the president is saying there will not be an immigration deal without wall funding cutting taxes, that one is a promise kept the president signed a 1$1.5 trillion package into law on december 22nd, cutting the corporate rate to 22%. they're working out withholding details and technical aspects of that and cutting regulations a promise kept for everybody o one new regulat, two must go. so far this year the white house says for every one new regulation added this year, 22 were cut they say they're well ahead of the goal on that one t then renegotiating nafta that's in progress the president vowed to renegotiate nafta to better serve america. he vows to pull out of the agreement if he doesn't get the deal he wants. the next round of negotiations in montreal on january 23rd. save major promises, he kept a bunch of them, others in progress if you look at the legislative promises the president made on substance, he is making progress towards his goal a lot of it has been distracted by the tweets, controversies, rhetoric, bottom line he's moving forward on the agenda he set out. >> purely on those five big promises, would have to commend it it's half done in just one year. pretty impressive. how does this tally with approval ratings and how does it compare between the nation as a whole and his base >> the approval ratings are relatively low for president-elect trump, particularly when you look at an economy doing well his base is holding fast his base is local to the president. they like this agenda and the prognosress made on it. even if the wall is not built, if it's more security spending, sections of wall being built in vulnerable places, i think the base will be with him on that ultimately they like the idea this is a president tough on immigration and rhetorically he has been we'll see where they go this week with a potential dhaka dakl that's been potentially blown up because of white house meetings last week. all of this is in play for, but ultimately this president is making progress, the base likes it >> some talk over the weekend about mitt romney running for that senate seat in utah and whether romney would be a voice of opposition to trump or the uniting factor that republicans need what do you think? >> so hard to figure out where romney will go you think you have a sense of which way he leans, then you see that moment, that famous picture of the dinner between mitt romney and donald trump, where romney had the helpless look on his face when he was brought in to be considered for secretary of state was romney willing to work with trump? was he willing to be an opponent of trump, it looks like romney has a chance of winning that seat relatively easily whether he's running or not is anybody's guess. he has not said officially he is, and what he'll do in that seat is a fascinating question we don't know the answer yet >> some people calling for him to be the republican senate leader and he has not put in his bid yet. we shall see thank you. still ahead, going behind the wheel a look at the three hottest vehicles at the detroit auto show. as we head to break a look at u.s. futures a strong day for wall street. the dow up 268 points. happy anniversary dinnedarlin' can this much love be cleaned by a little bit of dawn ultra? oh yeah one bottle has the grease cleaning power of three bottles of this other liquid. a drop of dawn and grease is gone. the markets change... at t. rowe price... our disciplined approach remains. global markets may be uncertain... but you can feel confident in our investment experience around the world. call us or your advisor... t. rowe price. invest with confidence. welcome back dow futures rallying this morning, up 270 points in premarket. nasdaq higher by 42. s&p up by 16 some stocks to keep an eye on today will be citi group and united health both reporting earnings today. the detroit auto show kicking off this weekend let's get back to phil lebeau. what's hot this year >> we'll talk about this suv in a bit. looks like just a regular run of the mill suv i will tell you why i find it intriguing in a bit. three other models that stand out. the ford ranger. the ranger returns, this is critical for ford because the mid-sized truck market, pickup truck market has exploded in popularity over the last three to four years. ford was not playing in the market gm made hay with it. now ford entering with the ranger they expect to do well the question is does it cannibalize sales of the f-150 x2 marks the spot. this bmw will go on sale in the u.s. this spring this is a sportier, crossover utility vehicle. why is it important? bmw relative to mercedes does not have a large lineup of suvs. this will help flush out that lineup along with the x7 finally, there is limitless potential with the lexus lf1 limitless. this is a concept at this point. but it's a gorgeous luxury crossover utility vehicle. lexus had sales fall last year, they would like to expand their offerings in the luxury suv crossover market don't be surprised if you see a variation of this at some point in the future. finally back live, why is this an important suv it's from guangho motor. this will be the first chinese automakers to sell vehicles in the u.s. it's one thing to say you plan on doing it, it's another thing to set up a dealer distribution network and bring cars into the u.s. and then find out if the american consumer is ready to buy a chinese brand vehicle interesting to see what happens over the next couple of years with gac motor >> fascinating to see that if the korean and japanese automakers are anything to go by, it could go well for them. going back to the suvs, whatbmwp >> they have the x3, the x4, the x5, the x7, now you have the x2 in the spring. they think they'll do very well particularly in urban markets, where people might have beeen in a 3 series who want a bit more space and are not quite ready for the x3 the x2? i like it. it smaller,sportier. >> was an idea last year that sergio marchionne would try to divest some of his assets that doesn't seem to be the case anymore. >> he made it clear this weekend there are no plans to sell jeep or ram all of this started because of an analyst call last year when somebody said what do you think of those two brands? he said they're strong enough to stand on their own, or to be spun off or sold immediately people said chinese automakers want to get into the suv market would want to snap up jeep he made it clear when we talked with him yesterday as well as other news conferences, he is not selling jeep or ram. they are in the process of putting together their next five-year growth plan, jeep is at the heart of that. >> lovely stuff. still ahead, more on this massive premarket move the dow up over 270 points your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. 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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(dennis woloshuck) if you have a sensor that can keep track of your product, it keeps everybody kind of honest that way. who knew a tiny sensor could help keep the food chain safe? ♪ japanese broadcaster nhk is apologizing after accidentally sending a news alert to their website and app just about an hour ago the alert said north korea appears to have fired a missile. the broadcaster says this was a mistake. the government never issued a warning. seems similar to what happened in hawaii recently as women. let's get back to the big premarket move futures up about a percent for the dow, 0.7%, 0.8% for the s&p and the nasdaq 26 r5 poi 265 points for the dow anthony chan joins us. the best start for the s&p since 2003 big moves again this morning what is driving this latest leg? earnings kicking off is that a factor >> earnings have been impressive the mere fact they know this tax reform package will add another 5% to 7% of earnings to the s&p 500 on top of the consensus expected is a good shot in the arm. not to mention the fact that the economy is operating on all cylinders. the atlanta fed now is projecting a 3.3% growth rate in the fourth quarter we've seen a strong move to the upside in many sectors where is there more room to run? >> i think it's on the international side when you look at how far international equities have gone relative to the average length of their bull markets, they're less overextended than the u.s >> even though we expect central banks to tighten >> again, it's all relative. the ecb is talking about normalizing but probably not until 2019 they will continue squeezing through september. we have started that process they're way behind the inflation rate is low enough, when they start the normalization, it will be gradual. >> how many more years, you mentioned q4 gdp, how many more years can this higher than the last decade of growth maintain itself >> i think for 2018 i'm looking in the neighborhood of 2.5%. if there's risk to the forecast, it's to the upside this expansion has room to go this is the first time in my lifetime stimulus has been added when the economic expansion is already pretty full along, almost at full employment and you're adding stimulus so this can go on longer >> bitcoin, the emergence of new curren currencies, does that make you as an investor more compelled to buy into the new space >> remember that the biggest enemy to bitcoin is regulation the minute that you heard south korea, you heard china increasing regulation, what happens prices prices started to go down. this is a function of all the quantitative easing that all these top g4 central banks have done if you start to normalize you take away some of that froth >> anthony, thank you very much. that's pretty much it for "worldwide exchange. a look at futuresresoundingly pe en the better part of a perct for the dow. "squawk box" will keep that you did that? we did that. really. we analyzed millions of articles and reports. we can identify threats 50% faster. you can do that? we can do that. then do that. can we do that? we can do that. futures are surging. i really mean surging. after 220 points on fliriday, te dow is indicated up 260 points the move from 25,000 to 26,000 was the fastest yet. we'll have a full market rundown straight ahead bitcoin is plummeting. the biggest cryptocurrency selling off on renewed fears of a regulatory crackdown in south korea. and the pickup wars are heating up in motor city a look at the newest offerings in the competitive truck market it's tuesday, january 16, 2018, "squawk box" starts now. ♪ live from new york where business never sleeps. this is "squawk box." good morning welcome to "squawk box." we're live from the nasdaq market site in times square. we're back with joe kernen and andrew ross sorkin >> i'm back. so happy to be on vacation >> we'll steal that vacation glow from you quickly. >> i met a sleep doctor on vacation we all need to talk about sleep. getting up at this hour is the equivalent to jet lag. we really need to wake up at the same time on saturdays and sundays. >> i'm not far off >> i'm not far off either. >> i'm up by 6:00. yesterday i wa