Meeting this week along with the jay powell press conference. That will be the focuses for the markets. Right now, the tenyear yield is just about where it has been the last tcouple weeks propalestinian protests continuing on College Campuses over the weekend some schools requesting Police Intervention to stop encampments. Jill stein was arrested at a protest. She said it was about freedom of speech which needs debate and dialogue at ucla, protests by propalestinian and proraisrael supporters and at state university, they paused connections to boeing after they demanded to cut ties with the weaponing Manufacturing Division the school has no investment in boeing it accepted 150,000 in donations. Boeing providing 28,000 a year for scholarships the University Paper aresident d in response to the issues. Officials in china removed restrictions on tesla cars after the vehicles passed the Data Security requirements. Just this morning, the wall street journal is reports that chinese officials tentatively approved the plan to launch the selfdriving features in the country. It will deploy based on the mapping by baidu elon musk had a series of meetings during a surprise visit that lasted less than 24 hours elon musks time is valuable he can do things quickly when you start hearing of things he gets wrapped up in with depositions, imagine what happens in a sevenhour deposition tesla shares on this news are up 7. 5 now to talks at paramount Global Sources tell cnbc the Company Board is preparing to fire bob bakish as soon as this morning and paramount reports today. Bakish will not be on that call. I dont know what it says about the results. The company is in talks exclusively with skydance media. That window lasts until this friday the spokesperson for paramount declined to comment on the report the report suggested that bakish was not in favor of the merger and slowing things down he thinks it is unfair to other shareholders over the weekend, regulators seizing the troubled Philadelphia BankRepublic First Bank and selling to fulton financial. The bank was closed on friday by state regulators and sold by the auction run by the fdic. Talk about 24 hours moves. Paper losses on bonds that lost value as Interest Rates rose and high uninsured deposits to flee. All republic first branches are set to reopen under fulton ownership at scheduled hours today. Regulators were prepared to shutdown last year to shore up the bank so confusing. It shows you if there is a First Republic, dont name your stupid Bank Republic first. You are confused about the name a year ago, that was a big deal this is a 3 billion this was the only reason we are reporting on it is people were confused of First Republic or republic bank. Given the shift in the fed and Everything Else and everybody talking about it not this is being suggested yet, but the next move would be a hike and that would be a different scenario for these banks. Just because this was tiny and not First Republic doesnt mean there is nothing to worry about. Cracks along the way. Shares of dutch medical devices giant philips are soaring after the company agreed to a 1. 1 billion settlement in the United States for personal injury cases linked to the recall of some of the sleep apnea devices. Millions of devices were recalled in 2021 over concerns that some of the components carried cancer risks potentially. Philips did not admit fault or liability or any injuries caused by its devices phillips says the test results showed the no reasonable harm to health the usissue was the breakdown of the components and you breathe those in during your sleep andrew went down to the correspondents dinner. Haha you came in and saying you were too old. Im not saying you are too old. Im too old to be in washington on a weekend like that ill take it to the next story. Another thing that you have to look forward to, perhaps, is this sleep apnea, possibly i had tests one way and it was moderate i refuse to test on my side. If it were to be i adhad it, i not wearing one of those things. I know people who have used it and they get better it gets moldy and spittle its gross how many miigs have you shot down per day, maverick i cant do it, andrew. I cant. Have you seen it you are attached. If it will save your life and make your sleep better im all about sleep. Sleep to me is the whole game. It happens later in life for some reason. I dont know why its not good. There is some implantable thing . It involves an implantable lets get to the reason why were exhausted and becky is smarter about it journalists and government officials gathered this weekend at the white house correspondents dinner. President biden spoke and roasted rival donald trump and took jabs from host this year, colin jost yes, age is an issue. Im a grown man running against a 6yearold i had a great stretch since the state of the union donald has had a few tough days lately you might call it stormy weather. The economy is kind of like you on the steps of air force one. It feels like its stumbling, but theres somehow upward progress we just acknowledge how refreshing it is to see a president of the United States at an event that doesnt begin with the bailiff saying all rise i thought biden got a little dark toward the end of it. He used the bloodbath comment and appealed for freedom of the exp press and honesty in the press he said if you are a decent person, theres only one choice in the election. Colin jost did both sides, i guess. Something else i heard it was sort of typical we have been to ten of them in a row . I dont know about that i havent been in a long time. To me, the joke i thought was the funniest and he looked at his watch and its past 10 00 p. M. And then trump was sleeping all week a protest being antiwoke. Im trying to be funny im not getting the laugh. He got better laughs than i did just now woke is a word you wont acknowledge as having any meaning. I tried to use it on you. It is woke you say there is no such thing. I have to fix this. You will not fix it theres this a thing on your shirt a string on my shirt. This is when you know thank you. Thank you, dear. How often do i say your tie is sideways. You come running in here. I was putting on my mic as we were coming in there are a couple of features we can tell them later. Coming up, get ready for a busy week of earnings. A fed meeting and the april employment meeting. And later, roger fguerson will join us with his Interest Rate expectations. Squawk box is coming right back and more about discovering magic. Rich is being able to keep your loved ones close. And also send them away. Rich is living life your way. And having someone who can help you get there. The key to being rich is knowing what counts. New projects means new project managers. You need to hire. I need indeed. Indeed you do. When you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. Visit indeed. Com hire and get started today. When you own a Small Business every second counts. Save Time Marketing with constant contact. With email, sms and social posts all in one place. So you still have time to make someones day. Start today at constantcontact. Com. baby by summer walker book in the hotels. Com app to find your perfect somewhere. And theyre all coming . Those who are still book iwith us, yes. Com app grandpa whats this . Your wings. Light em up gentlemen, its a beautiful. Day to fly. Okay were back i did remember its when colin jost came out and said there are some incredible news organizations here he goes, a couple of credible news organizations that was a good line he started with that started with that. Our next guest says the biggest change in the Options Market is that investors are more interested in hedging and that wasnt the case last time. Lets bring in Amy Wu Silverman at Rbc Capital Markets not surprising since the last time you were on, we have seen a change in sentiment all over the place. Lets starts with the notion that volatility had caused pretty big premiums in calls and, yet, the actual moves on either way on some of these reports, the earnings, that came out and were greater than the increased call premiums had predicted. That is exactly right last week was a big week, obviously, for magnificent seven names. It will continue to be for apple and amazon although we had big moves in meta and google , the options di not beeat the realized move you with still doing okay because the magnitude on the earnings matter to the stock and matter to the market as a whole that you are benefitting from that volatility and it will be interesting because apple and amazon are key for this week and coming in fair it is like the market is starting to bake in the idea that the moves on meta and google were inexpensive over what happened in earnings. It could be another surge in interest and volatility with nvidia it is the poster child, joe this is the markets baby. The last time we spoke, we were really at peak exuberance. Historic bid for demand for calls. That waned the a. I. Talk from google last week show there is is more room to reason. We have not seen that call pick up this is the first time it has been uninverted that is an interesting segment for the market which since may of 2023 of last year has been hitting historic highs with the right tail. Right tail is just a way you refer to bullishness or calls and you are now saying the left tail shows interest there that wasnt there last time you know, we refer to right tail and left tail because we look at everything from the bell curve curve, if you will what is interesting, the left tail has picked up one thing i want to make clear is it is not you have seen to so often in the market with the left tail. It is geopolitical partly and also because the market is pricing in left tails with potential rate hikes that is not something we are baking in, but the tail end is starting to increase and other unknowns in the market. In the past, when it hasnt happened, by the time people think i might want to hedge, they think it is already over. Is that why . You know, the Options Market has been a little bit of a fail in the past few years. In 2022, we drew down 20 . Owning puts on that market drew down 21 meaning owning that hedging hasnt paid off, but given that, the market is still saying we should think about hedging that tells you about the bubbling concerns in the left tail. I notice you are defllving io the mergers case will they at least admit that maybe theres no cuts this year . You know, that is something that i will tell you that the investors we have spoken to have been saying that since february. Even since before the next pivot that we had. Thats why the left tail began to pick up the second part is the absence of the right tail being as strong as it has been. People are being more picky about a. I. Last year was about a. I. Tide lifting all a. I. Boats investors are saying we need more proof and you are seeing that in the underline betting market with the options. The fed, as you point out in six months do we have an election yeah. In six months, we have an election and one candidate cant campaign because hes got to be in court half the country thinks this guy needs to be in court and needs to go from court to jail the other half thinks he is in court because he is unfairly prosecuted by his political opponents. That doesnt make for a good back drop. It is amazing the fact we have just gotten to the part of the election and that underlining volatility with the vix term structure, theres a noticeable bump in november. It is the market saying we hadnt been thinking about volatility during elections. This is unprecedented in a lot of ways. Again, thats why this left tail has ticked up although postcovid, it hasnt worked we still have the worry and the a. I. Right tail is not enough time to weigh it out. Amy wu silverman, thank you did you see how bad it got at one point . Colin jost said i visited the white house and i had some coke and i left it there. Im glad it got put to good use when the president did the state of the union did you hear that one . Sorry that was a shocker, was it not . It was a funny, as they say little bit thats all youll get at that is a little bit funny. Thank you. When we come back, Goldman Sachs telling workers not to take sneaky trips to the olympics this summer weve got the details on this story next squawk box will be right back. Harry david makes mothers day easy. Share a gift, made with love, with the mom in your life. Choose from hundreds of stunning baskets and towers. Its the perfect way to say thank you for everything. Harry david. Life is a gift. Share more. iconic brands speak for themselves. We are so excited to welcome you to our community. Today is all about you. Goldman Sachs is on the lookout for employees who are looking to attend the Paris Olympics this summer on the companys dime the bank told ply employees taking trips between july and august must first get approval employees were told to manage the spend and the firm sponsored events for clients well be there. We dont need to be sneaking out on the company dime. Were on air. I feel them it is very structured. It should be were going hopefully, it is a big event. There has to be a lot of security olympics is a very i would say there are a lot of clients there thats where you can go. You have to get approval first to make sure you are going for a work event or clients. Paris paris if you had to pick a city paris in summer not a bad way to go. Coming up on the other side of this, not paris, china. Tesla shares jumping after elon musks surprise trip there we will take you live to beijing right after the break. Later, we get you ready for the busy week of earnings and the fed meeting and jobs report. All that and more as squawk box rolls on. Announcer executive edge is sponsored by at t business next level moments need the next level network. Thats right craig. A team thats highly competent. Im just here for the internets. At t its superfast. Reliable. You locked us out . arrggghh ahhhh solutionoriented. [jenna screams] and most importantly. Is the internet out . Dont worry, we have at t internet backup. The next level network. I sold a pillow so this is pickleball . Pickle ah, these guys are intense. With e trade from Morgan Stanley, were ready for whatever gets served up. Dude, you gotta work on your trash talk. Id rather work on saving for retirement. Or college, since you like to get schooled. Thats a pretty good burn, right . Good morning welcome back to squawk box. Were live from the Nasdaq Market site in times square. The futures are picking up a bit over the last half hour. Dow up 56. This comes after a good week for the markets. Meanwhile, Tesla Ceo Elon musk making a surprise visit to beijing as the china vehicles passing the countrys Data Security requirements. Lets get to eunice yoon who joins us with the latest the stock has made a move premarket up 8 on the back of the news that eunice is about to bring us eunice reporter thanks, andrew. Not surprising to hear that. It looks as though musk had a productive trip in china after arriving in beijing on sunday. He met with the chinese leaders and soon after, tesla flagged the company had been approved by beijing at least in terms of the new Data Security regulations saying it is compliant this is in terms of collection as well as data storage and tesla is the only foreign invested firm listed as compliant. Local governments which put restrictions on tesla cars were lifting restrictions like i said, musk met with chinese leaders. That included the premier li the two discussed a. I. As well as autonomous driving as key to the future for evs the numerous reports we have been seeing now say tesla is getting close or has already gotten a tentative nod from beijing for the full self Driver Assistance Software for beijing and the chinese tech giant baidu would provide the mapping data baidu and tesla are not commenting on that one of musks goals is to get approval from beijing to allow that Data Collected here to be transferred overseas and then used to train the algorithms for autonomous driving back home in that way, using the technology here and then, of course, making it more broadly available around the world guys okay. Eunice yoon. By the way, before we let you go, what is the reaction in china to elon musk and tesla how is he viewed there right now . Reporter just from a population standpoint . People love him. Its on social media where people have been talking all about him. An lot of people talk about ho successful he has been the state reaction which is really clapping their hands saying hes great. In fact, one thing that was ironic was the state media which has been using him as an example saying that because hes so successful here and committed to china and this only dismisses and proves that the criticism that the u. S. Has and the west has of chinas quote overcapacity is overhyped. In that way, he just gets a lot of attention when he comes here. Eunice, before we let you go. I was worried when i saw the headline he is going to china, is this a moment of retribution from china with the issues of tiktok and how that is squarely in the news. Has that become a real cloud over the u. S. . It probably isnt as much of a cloud as one might think based on the reaction we saw from secretary of state Antony Blinkens visit with president xi blinken said that tiktok did not come up in their conversations by doing so, i thought that really sent a message that china isnt as concerned about tiktok and this is going to be worthy of posing or creating more tension with the United States in terms of the way that it is positioned and marketed, there is a boilerplate