Take a look at what happened overnight in asia. The nikkei up about a third a percentage point hang seng was flat, shanghai composite down red arrows across the board. Ftse flat at this point. Cac in france down by. 4 of a percent. The 10year right now looks like it is yielding 1. 63 those continue to wick up ground 30year 2. 1 the count down is on. Apple holding a launch event expected to launch three new iphones. Fee occurs may include upgraded processors and new camera functionality. We could see a new apple watch an apple watch was not worn bio d Odell Beckham hes in trouble for wearing a hard object. People still wear watches for different reasons. Jewelry anyway. Including streaming and service. I dont know what odell was using it for maybe he said, it is time i Start Playing better apple products working into team it wouldnt be a matter of cheating necessarily unless you clocksomebody in the head with it what was the score . These are the new browns, right. Welltalk more about potential and pricing. All about apple. An apple day dont they have a month of days per year may be. Maybe three weeks. Doesnt take much for us to focus on apple good reason not to mention it is right at the center of what is happening with china trade talks boeing too do you know much about apple . Can you help me im at 86 how much it charges up i was at 89 for a long time. You need a new phone. Do i need a new phone or battery. They have that Battery Replacement program now. I look at it twice and im at like 40 you need a new phone. I do too. Who should i talk to . I think the people here but i think im going to buy my own device and bring it in softbank working saying the conversation happening now is whether softbank will vest more. Now skbekted to be between 15 and 20 billion. Leslie will join us a little later with more on the story in other ipo news, saudi aramco saying the ipo will be very soon. It would then be ready to list outside the kingdom deciding where that listing would take place. It is a kingdom not sure it is a share holder. The kingdom remaining the share holder coming up, new inflation data in china well take you live to beijing to look at the impact. U. S. Equity numbers are off. Nasdaq indicated down about 23 and down 5. 5 a look at the biggest premarket losers and winners in the dow which does not include at t, in case you are wandering. Welcome back. Some Interesting Data out of china. What happened . Thank you so much beijing got two bits of bad news on prices today. China has a pork problem so pork is seen as a basic staple here. Also viewed as a potential social stability here. Looking at any major swings in pork prices. Came in 47 higher beijing announced new measures to fight african swine fever which has ravaged the pork population and releasing emergency pork from reserves one of the state papers had a headline that appeared to be convincing the chinese that they dont need to eat their beloved meat saying your wallet and body will thank you the worst news for policymakers is on the producer side. The ppi has fallen manufacturers are struggling most believe even with the surge in prices. Most expect the government may have to stimulate the economy further and that may include a possible rate cut later this year thank you see if thats going to be enough thank you. Lets get a check on the markets now. Joining us now, our guests good morning to you both let me start with you in terms of the overall market set up the last several days has become clear, the market seemed to have overshot stocks went down 6 . You had defensives winning a lot of those stocks losing ground is this a snap backtype move or more to the rally . I think more of a rally what we saw was extreme pessimism. When you look at Short Interest in terms of a shortage flow. This happened at the same time Traditional Market indicators were improving you also had high yield investment breaking out. Make it round numbers. Through 2950 puts a target around s p short term. That break out is firmly in place. If you can hold that gap around 2960 so 3100 is where we were hitting back in july looking at how we might get there. If it continues that the big Growth Stocks arent really leading the way, is there enough that will get us there yesterday was the start of a rotation you saw offenses versus more cyclical areas it is not the end of the world for technology if people came in very pessimistic on equities, they are bullish on bonds also it was positive when i last check. The market breath indicators could continue to improve. Thats what we are focused on. Well see more broadening out at that level so paul, listening to all of the things about these shifts. The market is reevaluating yields should be higher, there for stocks should be higher. Thats a good thing. If people were trapped in trades and had to exit, how do you see it sentiment towards he can quities equities the highest number we saw since early 2009 we are at record low and people are expecting further declines the surprise index was just leaving one of the broadest streaks. You are seeing expectations reset. You are seeing sentiment extremely off on the side of bonds. It reduces negative headline risk and can take some of the luster off the bonds and move people into equities and increase the flows there from the technical perspective and all of this talk is there a chance for melt up or is that crazy talk at this point . Are we there yet . It seems like we have a similar set up to 2018, 2012 where you rallied sharply. There is a chance that could happen we had a melt up in late 2016 after the election i dont know what the catalyst is this time around. Youve seen significantly higher highs like in 2012, 2013 or late 2016 to 2017 i would say the set up is there. We saw it in 2016. No one ever knows the catalyst for a melt up before hand. You never know this is going to happen when we are seeing these tight ranges and one of the narrowist ranges on record, you see that resolve going higher it turns into a bullish observation. We saw three big legs higher and now in the later stage of the period. When we come back, new data on Small Business confidence later, everything you need to know ahead of apples big Product Launch tick around. I can shine, i can shine, i can shine. Imma do what im made to do. Built for excellence. You start from the foundation up. The excellence is reaching dreams and chasing them at the same time. I can. The two words whispered at the start of every race. Every new job. And attempt to parallel park. electrical current buzzing each new draft of every novel. typing clicks the finishing touch on every masterpiece. newborn cries it is humanitys official twoword war cry. Words that move us all forward. The same two words that Capital Group believes have the power to improve lives. And that, for over 85 years, have inspired us to help people achieve their financial goals. Talk to your advisor or consultant for investment risks and information. The he can tiffs of National Federation and out with the latest confidence report kate with the details. Good morning. The index dropping, wiping out the gains we saw err lier this summer this is april we saw things ramp up take a look at this chart. A look at how optimism has been tracking down about five points from a year ago recession talk is taking a toll on the outlook the biggest drops were in expected Better Business conditions and sales expectations gains were in earnings trends. Skilled labor also a new issue the single most important problem followed by a tie in taxes and government red tape regulations. Continuing to attract talent or to train less qualified employees they are looking to hire back to you. Ive told you in the past to make the most of every day today is 91019 pallindrome. Tomorrow is 9 11 all the way to 919, every one of those days it is a palindrome i wasnt realizing. An entire week plus. Are you excited . Not many things get you excited. Youve got to use february as 02 for next year 021120, that doesnt work. It is going to be a while if you dont do that. Not just a week it is all next week too. We also decided jason should be on every day. When we come back this morning, todays biggest movers including an automaker credit down grade and a new player in the crowded breakfast market and weworks latest investor wants to step on the brakes on the latest ipo and a look at yesterdays winners and losers yesterdays winners and losers through the at t network, edgetoedge intelligence gives you the power to see every corner of your growing business. From managing inventory. To detecting and preventing threats. To scaling up your production. Giving you a nice big edge over your competition. Thats the power of edgetoedge intelligence. Thats where i feel normal. Having an annuity tells me my retirement is protected. Learn more at retire your risk dot org. For farmers here, this is our lifes work. But when a recall happens, perfectly good food goes to waste. Now, weve got away around that. Looks good. Were on target blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf. Its used by some of the biggest retailers everywhere. A nice wedge. So more food ends up on your table, is that daddys lettuce . Yeah. And less food goes to waste. Welcome back. You are watching squawk box live from the Nasdaq Market site in time square dow futures down about 38 points weve been watching what is happening with the nasdaq down about 20 points right now and s p down by almost five. Marke markets barely budged on either side nasdaq brown by about 15 stocks to watch this morning ford shares are falling after moodys cuts the rating to junk. Ford says its underlying business is strong and shares are down about 3 . Wendys will vest about 20 million ahead of the breakfast launch and hire 20,000 employees. They slashed the forecast for 2019 Earnings Growth to a decline of 3. 5 to 6. 5 wendys currently offers breakfast in about 300 of the 600 u. S. Restaurants plans include the baconator and the frosticino i have a request on the dairy content of those frostys. I dont think much. What if it is not dairy what is it i dont know. Mysteries of the universe. You new legal action over ecigarettes the fda issuing a warning to juul over the companys claims that its products are safe alternatives to cigarettes juul says it is reviewing the letter and will fully cooperate. New york Governor Cuomo steps up the request to ban flavored sales and the use of thickening agents and the use of vitamin e or a thickening agent said to be the cause of the lung disease in young people altria owns a 35 stake of juul that stock down about 25 cents this morning coming up, the latest on the wework ipo the largest investor asking it to shelf its plans thats coming up next on cnbc. Welcome back. U. S. Equity futures improved a little down about 30 points on the dow. 29. 5 four straight up days. Nasdaq indicated about 19 and s p down four and change apple expected to unveil new products joining us now to talk about what investors should expect is daniel flax, Senior Research analyst. Great to have you here thank you for joining us great to be here. Thank you, becky how big a deal is this as the company is changing, does if still have the same level of input. The iphone in terms of the product and the Customer Base is critical for the iphone business, what is important is that the install base continues to grow the Smartphone Market has been soft, i think what is important and what enables the company to integrate they do it in a fun, easy and secure way that delights their customers these phones are not seen as game changers. New phone, a little longer on the water resistant, what does it mean for people looking forward to 5g launch next year the additional camera will be important. Youll have faster speeds, improvements to face i. D. , which is important it can open, even if it is sitting on the table correct i think the new camera is really cool. That is something that would make me potentially get into it. That is key if you think about what is happening in terms of cameras and the 3 d sensing capabilities you have augmented reality, none of us are teens here but in terms of how teens communication, a lot is with various images imposed on themselves we think about the work place, the ability to super impose. If you are repairing an engine, and you can 3 d images and super impose an image. Or if you are shopping and you can super impose items into your room integrating the camera is making the phone more important to you. How much of this do we already know, is there anything they can say today that would be a game changer unlikely anything traumatic they are working on a bunch of things that may not see the light of day today to your point, the 5g device that could come to light next year, it is important that 5g devices are being built. The impact from 5g is more significant than just devices. This is about the internet affecting all sorts of devices but ultimately for apple, the key for this cycle and 5g and beyond, about keeping the customers happy. That will enable them to buy new prices, and consume more Services Just looking at the chart this is about the fourth trip stock has made you see that right there is there anything that holds it back around these levels or as valuation gets full or are investors just waiting for the next. I think it come down to innovation and whether people will get more of a glimpse a much bigger part of the story that isnt getting as much attention are the wearables. We will see a new watch. And air pods people are able to get utility the ecg app on the watch that is happening to save lives. There is a lot that they can do in health care i think there are other areas like monitoring sleep. Well see a glimps into what is coming that gets people excited they have to create value. That ultimately will translate to share holder value. What about the trade war to china, is that factored into everything happening right now it is a risk. We have the risk from the revenue impact there is the risk from the supply chain impact when i think about the investment case, if the company can deliver Innovative Products and services, they can look through some of the sorter term head winds. But for creating share holder value, it will come down to the products, innovation and the ability to execute around that thank you thank you your guy, he always watches us he does wendys is the closest to a milk shake. Now i have a new question. Dont we need beyond milk. We have beyond milk for lactose intel rens. The more fake it is, the better for the planet in terms of cow farts. Not in terms of how much water is needed to grow almond trees. But in the world we live in now, the less natural it is, the better we should boycott wendys for how much dairy they use. Im not going to do that. Im trying to figure out how i can signal the most virtue it is a cashon crisis now. When we come back, a show down over wework looking to postpone or even cancel the ipo in the last year, there were three victims of cybercrime every second. When a criminal has your personal information, they can do all sorts of things in your name. Criminals can use ransomware, spyware, or malware to gain access to information like your name, your birthday, and even your Social Security number. [announcer] thats why norton and lifelock are now part of one company, providing an all in one membership for your cyber safety that gives you identify theft protection, device security, a vpn for online privacy, and more. And if you have an Identity Theft problem, well work to fix it with our Million Dollar protection package. There are new Cyber Threats out there everyday, so protecting yourself isnt a one time job, its an ongoing need. Now is the time to make sure that you have the right plan in place. Dont wait. [announcer] norton 360 with lifelock. Use promo code get25 to save 25 off your first year and get a free shredder with annual membership. Call now to start your membership or visit lifelock. Com tv weworks biggest investor wants to call off the ipo. More on this story if you were getting 47 and now you are getting 20, i would say wait a while i would say cut your losses softbank is urging weworks Parent Company to abandon the deal softbank is concerned about the valuation wework could get in the market wework is having trouble finding investor demand. That big mark down could spell big trouble at softbanks attempt. Wework does not appear to be giving up easy a separate source said it is still all systems a go in other words, wework is still moving forward with the plan wework needs the cash, the company is burning through more than 150 million a month. An ipo could bring billions to the table and wework could cement a credit ability from the deal one solution softbank could come in with more cap fool the question is whether they want to double down here it soupnds like probably not. They are pushing them to find money elsewhere. Right theyve already put in about 9 billion if you round up a bit. That would be doubling down. That is a lot of money to put into one company the fact that lowering the valuation makes them to take the onpaper loss. Right now, they are invested at this blended evaluation weve seen this in the valley all the time and it is part of the reason we are seeing it these days you do see them come in round after round. We should point out when these initial investors are getting in, it is not apples to apples tie of thing. A lot of these have warrthese evaluations that are what they never said they were going to be. You mention, they have all of these various stipulations to them often times, you see liquidation preferences. If you put money in, you get a greater proportion it almost doesnt matter for a company if they have those preferences so long as they do it is a marketing number . Son senior associate dean of Management Studies at the yale school of management just at face value, i think youre applauding weworks efforts here this is a very positive thing going on why are you laughing is this is youre giving kudos that theyre keeping shareholder value as low as they possibly can by cutting the ipo price. Kudos. Youre not youre almost as good as adam newman. Newman. We were changing the subject but youre not as good. Newman. At newman yes, i know