facebook results beating sales, profits, user growth higher than estimated. the stock is lower in the pre-market. the big story for cigna, david cordana ceo joins us whole foods des appointments for the second straight quarter. it is down double digits as earnings miss expectations the government s initial reading of second quarter gdp coming below consensus, 2.3%. stronger consumer spending a slowdown of imports and a hike in government spending driving those results. first quarter up to .6 from a previously reported contraction. construction not bad. it echos what yellen and the fed said moderate growth continues. i had sandy cutler on the ceo. he said, you look around we are the best in the bad neighborhood, the globe. we are the best performing company. he is including china. he this is the numbers are completely phoney saying that this kind of growth is sustainable. it is not great growth. the rest of the world is on the decline. i understand what yellen and co
good morning. very warm welcome to worldwide exchange here on cnbc. i m wilfred frost. i m seema mody in for sara eisen. good morning to you. nice to have you with us. good to be here. let s check gobel mlobal market. futures or i should say u.s. stocks ending higher yesterday. the s&p closing about 1.6% away from the record closing high. futures indicating a lower open. down 3 for the s&p 500. dow jones off by 14, and the nasdaq off by 3. this as we kick off the earnings season for q1. treasuries have been in focus. yesterday fed chair janet yellen dropping a hint that rates will be likely rising again shortly. the ten-year yield hanging out around 2.3% to 2.4%. right now at 2.34. let s look at equities around the world. asian equities first up. the nikkei and hang seng both down a bit today. hong kong almost down three quarters of a percent. shanghai up about 0.6%. european trade to move on to that, we had some data hit the wires. eurozone industrial output down
yesterday? what did you think? weird, right? what you are talking about? went all the way up. yesterday s session? yeah. what happened midday that knocked that off? they thought it was the ap story about trump s tax plans, how they ll scrap it and start all over again. i don t know. during the day, the guy in north korea said we re this close to nuclear oblivion, the markets just tread water. but then the tax plan. syria saying, yeah, russia said one more move, we re at war. and then the futures didn t move. but then they said something about the tax plan, could be a week late, the markets moved. that s very telling. how do you price it in? you can kind of when the world ends, it doesn t matter might as well trade until it does. flight to safety. i m in safety. it doesn t matter. even oil, with everything happen. when music is playing, you have to dance. quick heck on what s going chec in europe and then oil. the dax down a bit. cac, we wil
bell. our road map begins with trump policy reset. who s who of ceos head i by steve schwartzman returning to the white house with infrastructure spending and tax reform topping the agenda. united doubles down after dragging a passenger off an air flight. the can. is facing a big pr bash backlash. pricing political risk, rex tillerson makes his first diplomatic visit to russia. all in attendance for a strategic and policy meeting with the president and senior ple members of the administration. president trump will make remarks which we ll get later on this morning, we ll see about arrivals and departures, whether or not we can talk to them once on one. infrastructure, tax policy, going to have a business will have a seat at that table. this is heavyweight group. i hope doug mcmillan talks about the notion of technology and what it means for walmart and the border tax means. the reason because walmart hired, huge employer now we re talking about the big. biggest employ
coming up, we ll tell you what s behind the crude comeback. that s coming up in just a moment here. janet yellen and the fed leaving rates unchanged for now, but a warning that a hike could come in december. we ll look at the impact that they re having. meanwhile, he s at it again. carl icahn revealing he s taken a large stake in insurance giant aig and he s urging the company to split into not two, but three separate companies. we have the latest details on that. the stock has been up about 4% or 5% in today s trade. let s begin with today s spike in crude oil. jackie deangeles, back about $45. good afternoon to you. this was a move that took a lot of traders by surprise. let me break down what happened for you. the session low, $43.06. you can see this incredible range that we went through today. the rebound in part was due to the fact that there was some selling pressure in the last three sessions. not really enough conviction to take us down to 40 as some were predi