Transcripts For CNBC Worldwide Exchange 20170918

Good morning very warm welcome to Worldwide Exchange on cnbc. Im wilfred frost. Im seema mody. The handmatts tale and veep. Won. Well have a full roundup of last nights big winners coming up, especially including, i should say, a surprise guest indeed. Some very entertaining video clips as well as the headlines of who won what. First of all, lets check in on the Global Market picture this morning. Coming off the back of a decent week, very decent week we should say. The dow having its best week of the year up over 2 . S p and nasdaq up around 1. 5 . Taking a lead of some positivity around the world 57 points higher for the dow nasdaq up 10 points, s p up nearly 5 points. Another big story last week was the rise in yields just two weeks or so ago we were as low as 2. 05 on the ten year note back above 2. 2 now. That, of course, played into that broad gerris being on rally that we saw last week. Two big Central Bank Meetings this week, the fed and the bank of japan. Speaking of japan the markets are closed in observance of respect of the age day the japanese nikkei is responding to the report that is getting a lot of attention japans Prime Minister is considering a snap election as early as october the japanese anything knikkei id data out of china. Data average new home prices rising 0. 2 in august with the prior month so slowing just a bit from what we saw in july perhaps evidence that the real estate sector in china is cooling down nevertheless, a strong session the shanghai index up. Hang seng higher by 1. 3 all trading at the highest levels overall asia has done quite well if we switch focus to early trade in europe, politics will be a big point of discussion in Europe September 24th so later this week that is the kickoff of germanys federal election polls showing merkel is in the lead. German dax up. 6 . It was strong for the nikkei up 3 . Lets have a look at exit classes. Oil prices had a great week. Up nerlly 5 last week and extending those gains again. 50. 3 back above 50 a barrel level. Lets have a look at the dollar. Last week it did gain 0. 5 against a broad index of currencies that was despite headline losses against the british pound. Sterling gained 3 against the dollar the dollar gains almost 3 which is why the nikkei was down so much and the dollar continued high this morning by half a percent. Elsewhere, a little bit of Dollar Strength against the pound essentially flat against europe gold prices to round things off did mean there was pressure on the gold price it was down nearly 2 . 13. 19 the price of gold. In corporate news, Facebook Says it handed over new ad Sales Information to special prosecutor Robert Mueller. The news comes as lawmakers turn up the pressure on facebook to provide even more information. Heres what the ranking democrat on the house intelligence committee, adam schiff, said over the weekend. We are requesting a lot more information from facebook and we have received some information, but there are a lot of Unanswered Questions frankly, im distressed its taken us this long to be informed that the russians had paid for at least 100,000 of ads designed to influence our electoral process. At least 100,000 worth of ads on its site leading up to a 2016 u. S. Election facebook playing a clearer role. Secretary of state Rex Tillerson said the u. S. Could remain in the paris accord under the right conditions speaking on face the nation tillerson said china is a deciding factor. We are willing to work with members of the Paris Climate Accord if we can construction a set of terms that is fair and balanced for the people. It recognizes our economy, economic interests the second largest economy in the world, china. Back in june President Trump announced the u. S. Was pulling out of the deal. President trump is in new york this week for the u. N. General assembly he will address the Group Tomorrow north korea will likely be a large focus of the president s speech in an interview yesterday on cnn u. N. Ambassador nikki haley emphasized President Trump recognized it. It was not an empty threat. What we were doing is being irresponsible. North korea is being irresponsible and reckless, we were being responsible by trying to use every diplomatic possibility we can do. We have pretty much exhausted everything we can do at the Security Council at this point. The u. N. Security Council Adopted a set of responses last week. Shinzo abe is reportedly calling for a snap election as soon as next month the move comes as abes Approval Rating has recovered helped by jitters of a north Korean Missile and nuclear test reports say abe has told members of his liberal party he may dissolve the other house of parliament an op ed abe says they must remain if you go early to the polls, albeit not drastically early, his position is from a position of weakness as opposed to a strong position. Trying to choose a time between now and the next year of being as little weakness as possible will be interesting to see what he has to say this week british Prime Minister theresa may is traveling to speak to the u. N. General assembly in an interview on abc yesterday, may says she has no doubt brexit will happen. The negotiations, the and were looking at the deal we can do the way that we can come to an agreement with the eu for the future, for our future relationship in trading terms. What this enables us to do is actually by having our own control, enduring trade deals. Hence, were talking to the United States. As for her relationship with President Trump, theresa may says they work very well together although she disagreed with some of his positions including pulling out of the paris planned accord. Its a busy week ahead on wall street. Today the National Association of Home Builders puts out its survey it begins a twoday meeting of the fed. Janet yellens News Conference several notable names are reporting earnings including adobe systems, red box and General Mills. Now to entertainment news. Last nights 2017 emmy awards will have everyone buzzing today. Landon dowdy is here with a roundup of all the mustsee events tell us what we missed i fell asleep during the middle of it here are the highlights. The 69th annual primetime emmy awards is all abuzz. The big winner, the streaming providers, hulu took home the emmy for best drama. The first ever streaming platform to win the award. The show won emmys for outstanding lead actress and it wasnt just hulu writing for a series for netflix and john litnou took home an emmy for the crown it was a big night for hbos veep. Won the Third Straight emmy and lead actress Julia Louise Dreyfuss took home her eighth emmy snl had a big night sweeping all four series, acting categories big night. Thats interesting, veep has been around. Winningest actress in that series the big take away is the streaming providers. Hulu beating out netflix. Im slightly surprised. House of cards has never won anything. House of cards. This is the first year of the crown. No surprisingly hulu. You think of the big players, netflix and amazon theyre really investing big, guys hulu investing 2. 5 billion. Netflix 4. 5 billi 4. 5 billion. Good to see john lithgow getting one. Veep running for a long time. A british show only ran two or three years. We took it. Dhanks, landon. Thanks, guys. Were going to switch focus to the weather because we are still on hurricane watch hurricane jose creating dangerous currents as it barrels up the east coast. Tropical storm watch being issued from delaware up through cape cod meanwhile, Hurricane Maria is gaining strength as it heads straight for the Virgin Islands devastated last week hurricane warnings being posted. Tropical storm warnings are now in place in antigua and barbuda. They were already devastated by irma as well. Barbuda sadly was antigua managed to escape the most of it. Still to come, all of this mornings stocks to watch. Couldnt report a defense deal why Northrop Grummond may have to search for more coming up on cnbc. Good morning, welcome back to Worldwide Exchange. We gained around 2 of the dow around 1. 5 for the other two indices. This morning up by about a quarter of a percent give or take what index youre looking at thats taking leads off of gains in asia and europe as well lets have a look at oil prices. Wti gaining in and around 5 this morning a little bit more taking about 50 a barrel, 0. 2, 2 3 of a percent. Northrop grumman is looking at an Acquisition Price of orbital. In retail, jimmy choo shares will be taken over general motors, workers at a plant in ontario have gone on strike after negotiators failed to come up with a deal the chevy equinox is made there at t is looking at divesting the latin american tv assets ryanair shares are under pressure they will cancel 40 to 50 flights every day for the next several weeks due to a schedule error. Qatar says it will buy 24 typhoon jets from bae systems. Shares of bae are higher by 2. 5 in todays trade Deutsche Bank is reportedly going to get subpoenas about possible coordination between President Trumps campaign and the russian government the ceo says a formal request there hasnt been a formal request and until then the bank is not complying. We cannot just share with the Public Information about any client, whoever that client is, because its illegal but its also incredibly bad practice we will always follow the rules. We will always follow the law, but we cant just compromise our clients confidential data. Deutsche bank has done business with President Trump for years. Reports say there have been hundreds of millions of dollars of loans made to trump businesses through a Deutsche Bank unit. Even that though not yet confirmed by the bank. Deutsche back has recovered along many other european banks. It is 1 month until chinas People Congress kicks off where key cabinet places change. This is president xi jinpings moment to consolidate it how will chinas economy be run . It comes at a time when the world is becoming increasingly reliant on china trade and north korea. Thats why this moment is being watched not just inside china but also, again, chinas trading partners, us here in the United States a lot of policy wonks as well. Who he selects on some of the key cabinet positions will also overlook the economy, the direction of the economy so will this person be dovish, hawkish . It could be significant. In general president xi is seen as perhaps the most powerful chinese leader since ma whoever he selects, either way, hes in a strong position. Who he selects will likely cement or further consolidate his power in the specific election i guess you call it or political event if you will. Checking sticking with china. Sticking. Sticking with china but switching tobusiness parts zhongan plans to have an ipo at 10 billion. Its the first online only insurer is set to begin a share sale today in hong kong. It named japans stock bank as a corner stone investor in the deal with a 5 stake. Think of everything. Workplace messaging app slack drawing in fresh cash from investors. Raising another quarter of a billion thanks to a big injection from softbank. It values the company at 5 billion. Slack says the money will help it run as a cash Generating Company and reduce its dependence on outside financing. All right. Still to come on the show, the adaptation of stephen kings it just made history at the box office the details straight ahead. Todays National Forecast from nbcs bill cairns. Good monday morning to you, seema and will watching two storms, two hurricanes one will be a minor inconvenience. The other could be catastrophic. Jose, the first one, this is the minor inconvenience. Tropical storm watches are still up almost looks like a big noreaster thats how it will act no snow of course. All rain, windy conditions, huge waves, beach erosion problems. Minor coastal flooding 90 mile per hour winds there will be a big wind field with it. Off shore, gusty winds, minor Power Outages especially areas in southern new england. This is the serious storm. This is maria. Going through dominica in 24 hours and heading towards puerto rico winds already up to about 90 miles an hour. This has serious consequences for the Virgin Islands and at wld rico. Thou be crazy. Thats your business p travel forecast more Worldwide Exchange when we come back were drowning in information. Where, in all of this, is the stuff that matters . The stakes are so high, your finances, your future. How do you solve this . You dont. You partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. Morgan stanley. Back to Worldwide Exchange. Tracie potts is here with details. Reporter its interesting because the president since he was a candidate has been very critical of the United Nations questioning whether the u. S. Is getting its moneys worth putting 1 4 of the bill of what he describes as a club that sits around and talks about things. Tomorrow President Trump will be talking to them. Hes expecting to call for reform mending fences as a candidate President Trump called the United Nations weak, incompetent, not a friend of democracy. Now he needs the u. N. To deal with north korea. Hes going to address these specific threats north korea, iran, terrorism, global terrorism the United Nations has fallen short and he wants to motivate them. Reporter u. N. Sanctions to stop north koreas missile tests so far havent worked. The Trump Administration says they need more time. To get all countries, everyone to do all they can to enforce those sanctions. Reporter 90 of north koreas trade is being cut off so we have economically strangled north korea at this point. If that doesnt work, general mattis will take care of it. Reporter the unpopular military option. The emphasis now has to be on missile defense. And getting china to cut off north koreas oil. We should put more pressure on china. Reporter can congress do more with democrats negotiating directly with the president. Thats what america wants. Hes pro trump. Hes for his own personal interests. Sometimes those interests will align. Reporter some republicans are okay with the idea of putting his border wall on hold for now. It doesnt have to include the wall at this point i dont think. Reporter while seeking a way to keep nearly 800,000 young immigrants in the u. S. Legally and back to the United Nations President Trump has also said that the u. N. Is not a friend of israel israeli Prime Minister benjamin netanyahu, that happens in new york today before the meeting tomorrow. Tracie, specifically with north korea, is there anymore that the u. N. Itself can do . Arent we talking about having to see some unilateral type of action if theyre going to go further than the u. N. Sanctions that have already been posed reporter a couple of things they can do. They can impose tougher sanctions which is what the Trump Administration wanted. They called this last round sort of watered down. They can also enforce and make sure that everyone is on board with complying with those sanctions. Okay. Well, we will look for the headlines throughout the week from the u. N tracie, thank you very much. Still to come on the show, the details of a massive potential defense deal feeling the heat as lawmakers push the company for more russia info and japans abe speaking out in a brandnew op ed on north korea. All of that and more when Worldwide Exchange continues cds, baseball cards. Your old magic set . And this wrestling ticket. Which you still owe me for. Seriously . 25 . I didnt even want to go. Ahhh, your diary. Mom says its totally natural. 25 is nothing. Abracadabra, bro. The bank of america mobile banking app. The fast, secure and simple way to send money. Whether its connecting one of or bringing wifi to 65,000 fans. Campuses. Businesses count on communication, and communication counts on centurylink. Global market alert. Stocks around the world push higher more on the record rally coming up. Facebook under fire. Congress wants answers from the social Media Company on russias role in the u. S. Election. The details ahead. Plus the 2017 emmys. The winners, the losers and the streamers that scored big at last nights award show. Straight ahead monday, september 18th, 2017 youre watching Worldwide Exchange on cnbc. Good morning very warm welcome to Worldwide Exchange. The markets continue to show resilience in the face of north korea and disappointing Economic Data 1. 6 advance with the s p 500 last week. Another record high for the dow. Here on monday it looks like the rally could continue the dow is up 56 points here premarket trade despite that unexpected drop in august retail sales. On friday s p 500 up 4 points. Nasdaq higher by 11. This week we have the fed meeting plus the bank of japan meeting. Also should point out its the kickoff of the u. N. General assembly which is basically the super bowl of diplomacy. Ten year yields, higher yields is up around 2. 2 last week and similar story here on monday ten year note yielding 2. 209 . Super bowl of diplomacy. Yes, it is. Very nice, indeed i like that. Asian equities, the standup which is the nikkei. Up around 3 outstanding performance and that came as the yen slipped around 3 . Worth noting as seema mentioned, despite north korea threats, the nikkei gained 3 which is showing how little focus you or little worry there has been in the region when it comes to Market Performance at least this morning we are seeing gains again across the board in asia albeit nikkei and japan is up. European trade last week, the ftse was down sharply 2 both germany and france were up over a percent green in europe up around half or so of a percent. Lets take a look at broader markets and start with oil that really has been the standout over the past two weeks. Wti crude surpassing 50 a barrel last weekend. Continues at 50. 17, up about half a percent the international gauge for oil, ice brent crude at 55. 79. The opec and nonopec meets in vienna on september 22nd well see if we can get anymore Details Behind the supply and demand dynamics. Nat gas higher by 1. 75 . Despite the rally that weve been seeing higher, other commodities tied to china like zinc, nickel and copper has significantly declined over the last one week. That rally has really seen a pause. They have pulled off. Lets round things off with gold and look at people looking at where its trading at right now. Here we go its down half a percent on monday 1,350 in corporate news, lets take a look at facebook it says it is handing over new ad Sales Information to special prosecutor Robert Mueller as an investigation into the role of the 2016 investigation widens. The news comes as lawmakers turn up the pressure on facebook to provide even more information. Heres what the ranking democrat on the house intelligence committee, adam schiff, said over the weekend. We are requesting a lot more information from facebook and we have received some information, but there are a lot of Unanswered Questions frankly, im distressed that its taken us this long to be informed that the russians had paid for at least 100,000 to try to influence our electoral process. Earlier this month facebook revealed, quote, inauthentic russian actors bought at least 100,000 worth of ads in the months leading up to the 2016 election. Slack drawing in fresh cash. The company raising another quarter of a billion dollars thanks to a big injection from soft bank. The latest round of funding values the company at 5 billion. The money will help it run as a cashGenerating Company and reduce its dependents on outside climates. We may have a defense deal in the works Northrop Gumman is looking at buying orbital it could top 5 billion if the premium is attached. Shares of Northrop Grumman is flat jimmy choo will have a deal to bike michael kors the shares are flat. It had a nice jump over the summer. Toys r us, wilfreds favorite place could be headed for bankruptcy before the holidays they could file for chapter 11 in the next several weeks. The Company Suppliers are behind the move theyre not shipping items unless theyre paid in cash. Toys r us has most of its items for the holiday. Restocking items could pose a problem. It was a night of records at the emmys hulus handmaids tale took home the top prize the cast of veep took home the emmy for the best comedy saturday night live coming out on top it won nine awards, the most of any show hbo won the most awards with Big Little Lies helping to secure that record hbo was able to hold off netflix yet again winning 29 total emmys compared to netflixs 20. The competition is on. The competition is on im surprised its taken this long for streaming service to win best drama you consider how much those guys have spent on content in the last five years. You could frame it the other way and say its taken them a while to get that approval. At the same time when you see how many awards are going to the digital streaming videos its a testament to the Companies Giving more. Emmys Host Stephen Colbert unleashed a series of jokes aimed at President Trump he then brought out sean spicer onto the stage and the audience reaction was priceless. Is there anyone who could say how big the audience is . Sean, do you know . This will be the largest audience to witness an emmys, period, both in person and around the world. Wow that really soothes my fragile ego. I love how Melissa Mccartney was in the audience. They got her reaction. Unexpected. Awesome fair play. And to spoois spicer. Jackie hoffman, an actress from the show feud didnt take her emmy loss very well after losing outstanding supporting actress. Big little lies hoffman was visibly upset. Take a look. The emmy goes to laura, Big Little Lies. Hoffman later tweeted, i hear the media actually taking my reaction seriously are you kidding me that did look kind of genuine. Like a real honest reaction why not have an honest reaction . I think if you were being silly with it it would have been more obviously city silly. Agreed. Moving on, tony depp having some bad luck in the Real Estate Market his kentucky horse market failing to sell after bidding was too low. The property was listed for 2. 9 million. The top bid was 1. 4 million. The house is 6,000 square feet guest house and three barns. The auction ended without a sale. The garage is the most important. Space garage. Id go with that. Im sticking with it. Where is it again, that house . Kentucky. Kentucky. How should i say that you were fine i was curious. I thought it was in the u. K. Its in kentucky i didnt know. The iconic Rolling Stone magazine is up for sale. Thats getting a lot of attention. Cofounder jan wenner confirming he plans to sell his 51 stake in the magazine. He sold 49 to a Digital Music startup in 2013 amid the industry wide drop wenner meet yeah sold its other magazine to the publisher of the national inquirer. It continues to kill it. It took in another 129 Million Worldwide over the weekend the r rated horror flick has already grossed 218 million domestically since its release the highest earning september movie ever its record run is welcome news for hollywood which just suffered a very poor summer movie season in fact, the worst in over a decade i might see it. The fact that its done so well. It suggests you want to go no. Horror movies i dont go we wanted to get you up to date on sports as well sunday night football between the Atlanta Falcons and green bay packers. It was a rematch of last nights nfc championship game. The falcons picked up where they left off building a big lead atlanta was helped by packers quarterback Aaron Rodgers who threw an interception right before halftime. The falcons turned that into a touchdown and would go on to win 3423. Coming up on the show, abe speaking out japans Prime Minister is calling for action against north korea and an op ed in the new york times. Eadays must read straight ahd. Youre watching Worldwide Exchange right here on cnbc for your heart. Your joints. Or your digestion. So why wouldnt you take something for the most important part of you. Your brain. With an ingredient originally found in jellyfish, prevagen is now the number one selling brain Health Supplement in drug stores nationwide. Prevagen. The name to remember. Welcome back to Worldwide Exchange. Lets have a look at what the markets are doing around the world. Pretty positive picture. Outstanding week for the nikkei. Up some 3 despite any north korea fears. Thats largely because the yen was softer by around 3 against the u. S. Dollar. That allow the nikkei to rally the nikkei is closed today elsewhere around asia, decent gains. Over a percent in hong kong. The ftse 100 is down germany, frans both gained more than 1 last week. All of those markets are nicely high this morning. Almost half a percent as the average return futures here in the u. S. Also taking the lead from Global Markets by 1 4 of a percent coming off the back of the best week for the dow this year up around 2 the s p and nasdaq up 1. 4, 1. 5 . In Global Political News Japanese Prime Minister abe is calling for a snap election next month. The move is coming after his popularity has recovered reports say abe has told members of his liberal Democratic Party he may dissolve the lower house of parliament for a snap poll after the legislature meets at the end of september now perfect setup for todays must reads its titled solidarity against the north korean threat. Its penned by himself, shinzo abe, the Prime Minister of japan. He writes, Global Solidarity is of utmost importance still prioritizing diplomacy and emphasizing the importance of dialogue will not work with north korea. Abe goes on to say pyongyang would see more talks as proof that other countries succumb to the success of its missile launches and nuclear test and that now is the time to endure the utmost pressure on the north. There should be no delays. I firmly support the United States position that all options are on the table very interesting read, wilfred basically showing his support for President Trump and the u. S. s policy but also providing a lot of context, Historical Context as to how north korea came to where it is. Its good to see him step up to the plate and do so in the u. S. Media because japan relatively speaking has been a bit quieter on this issue in terms of the coverage we get over here. What is china saying, what is south korea saying but what is the north and the u. S. Saying and japan has a potential to be seeing this. The last two missiles from north korea have now crossed over japans lands so that really puts more focus on japans role in this whole effort against north korea. My pick is in the wall street journal. The fed should stop worrying and learn to love low inflation. Former chairman of the federal Deposit Insurance Company are writing together as long as the economy and employment continue to improve, the fed can stop fretting about low inflation and move to normalized Monetary Policy ideally it could reach Interest Rates of 2 by the middle of next year, up by 1. 25 today that would be a good move around the fed would have the move to maneuver if they increase it can increase rates back to the equilibrium level. It doesnt just talk about that. It says the tapering of the band sheet should stop immediately and they should get on with it. Which we might get. Which we might get. I think clearly the focus remains on what the inflation picture is these two well learned writers say thats what growth is doing. Theyll have to wait and see if that is a bit of a prize its the heat of debate not just in the u. S. But in japan, china, europe as well. Whether the targets of 2 or whatever it might be, mostly 2 , is really sound, if its really just fie justified where we are now. Whether that should be the focus of some of these central banks. The yield on the ten year treasury is now at a threeweek high. In the u. K. , theresa may is traveling to canada today to discuss plans for a post brexit trade deal she will also be in new york this week to speak to the u. N. General assembly in an interview on abc yesterday may said she has no doubt brexit will happen. Were in the negotiations the and were looking at the deal that we can do, the way that we can come to an agreement with the eu for the future for our future relationship in trading terms, but what this enables us to do is actually by having our own control, do our own trade deals. Hence, were talking to the United States. As for her relationship with President Trump, theresa may says they work very well together, although she disagreed with some of his positions, including pulling out of the Paris Climate Accord. Still to come on the show, were gearing up for a big week ahead with a fed decision on the agenda, and peexrts when we come back here on Worldwide Exchange. Welcome back to Worldwide Exchange stocks to watch today, Northrop Grumman looking to seal a deal with orbital an Acquisition Price could exceed millions. Workers in ontario have gone on strike at gm. More stocks to watch, caterpillar getting an upgrade to buy higher earnings improving margins. Ubs is upgrading to 140 a share. Ryanair shares are under pressure the Budget Airlines says it will cancel 40 to 50 flights due to a scheduling error shares are down more than 3 today. Qatar says it will buy 24 typhoon jets from the u. K. s bae systems. Shares of bae are higher in todays trade by nearly 3 . Busy week on the wall street agenda today the National Association of Home Builders puts its monthly Sentiment Survey out tomorrow look for august Housing Starts and the fed begins its twoday meeting. Wednesday it will get existing home sales and the feds decision along with the latest economic forecast. Thursday look for weekly jobless claims and the philly fed survey others reporting earnings including adobe, Bed Bath Beyond and General Mills record week last week from the dow up 2 . Best week of the year. Were up a percent and a half or so at the nasdaq and the s p lets bring in michael far, president of far miller in washington and cnbc contributor. Michael, good to have you with us as always. Thank you lets kick off with the fed this week because i guess no ones expecting any outride action, but the chances of that happening has increased a little bit in recent weeks. They have, will fred. The fed this week, people are downplaying the runoff thats going to occur the fed has a 4. 5 trillion Balance Sheet that theyre going to put basically on an automatic pilot of a rolloff to diminish this portfolio its kind of an interesting move out of the fed in that theyre trying to, i think, take it and not politicize it. Theyre not going to make it a big deal, but thats going away. This is another step towards tightening Monetary Policy and i think its really not getting a lot of notice. Clearly i dont think were going to have a rate hike this week, were not going to have a talk about rate hike this week there is still a chance at the end of the year. This is one of these things that Janet Yellens been talking about in terms of the rolloff of the portfolio. I think we should take her at her word this is going to go away and start to taper. Meantime, michael, whats also going to get a lot of attention is the u. N. Meeting. The Worlds Largest diplomatic gathering in new york. President trumps first meeting with the u. N. As well. Several heads of state are already in town. What do you think investors should be looking for this week from those meetings . Seema, its so hard to really tell what investors should be looking at or whats going to make a difference. I mean, if you think about last week and hurricanes and north korea firing a missile over japan and everything that happened, markets didnt have a bad week markets are opening with new highs across asia and europe this morning looks like the u. S. Will see new highs again this morning all of this under this north korean threat of Nuclear Activity just absolutely awful. There are more storms heading up the east coast weve got a fed meeting. Markets continue to go higher. I think if you look at whats happening in the u. N. , the heat of the rhetoric in terms of sanctions and further sanctions against north korea will make a big difference, particularly if theres any decisive action. One of the things im going to be looking for is the simple relationships between President Trump and other world leaders. It seems to be that some of the relationships in the u. S. Are being a little more collaborative, sound more collaborative. Maybe thats going to happen internationally. That could be good for u. S. Stocks. Michael, i wanted to switch focus and touch on the emmys we got some big results last night for some of the streaming services, the likes of netflix and hulu what do you think about those types of stocks now . You know, as you look at some of the streaming and the whole idea of whether you can go to unplug, clearly there is some value there and theres been a great debate about whether its the streaming service or whether its content you know, wilfred, i think that all anybody really needs to know is that they should watch cnbc and they should start very early in the morning and they shouldnt turn it off all day long. 100 agree. I agree. Those stocks are over valued. You cant find a reason really for netflix valuation. I have to have Balance Sheets. I mean, y. Its much too risky for me. Bitcoin is higher after seeing one of the worst weeks in history creating a bear market down 23 from the all time high. What do you make of this crypto currency, michael . I havent bought it im so disappointed that i havent. I want to buy it to see how it works, not really because i want to own it at all ive written articles about bitcoin. Its a fiat currency without a fiat its a global currency without a currency its not got an Intrinsic Value other than what somebody is willing to pay for it. It seems to me very speculative. Its a gamble. If youre going to gamble, go to las vegas. This is pricey and dangerous. Michael, thank you very much for that and also the line that im going to vegas in a few weeks. Thank you. Get a free drink at least if michaels going to go by weve got about a minute left. Just going to dive into some currency impacts from last week. There we go. Have a look at the yen over the last week. It fell about 3 against the dollar the dollar rise against it that had a huge impact on the nikkei well see that that was about a 3 move in the other direction the nikkei up, the yen down and also happened elsewhere in the world. Sterling falling sharply about 3 against the dollar. What does that mean rising against the dollar at 3 that meant the ftse fell the impact the currency markets are having at the moment and see if that continues. Its all about urrency. The fed and the bank of japan meeting which could have an impact on the yen. That is it today for Worldwide Exchange. Thank you very much for joining us squawk box continues after the short break. We take a girls trip. Remember nashville . Kimchi bbq. Kimchi bbq. Amazing honky tonk . . I cant believe you got us tickets. I did. I didnt pay for anything. You never do. Send me what i owe. Ive got it. I mean, you did find money to buy those boots. Are you serious . Is that why you dont like them . Those boots could make a unicorn cry. Yeah, tears of joy. The bank of america mobile banking app. The fast, secure and simple way to send money. Good morning a record rally the market continues and believe it or not, u. S. Equity futures pointing towards a higher opener points on the dow after the best week for the dow theres a defense deal, Northrop Grumman planning to pay billions for a missile and rocket maker streaming success historic night at the emmys regular day. Apparently that was last night were going to bring you the biggest winners and losers monday september 18th, 2017. Squawk box begins right now. Live from new york where business never sleeps, this is squawk box. Good morning, everybody. Welcome to squawk box here on cnbc we are live from the nasdaq markets in times square. Im becky quick along with andrew kernekernen the dow was up by 2. 2 this morning the green arrows continue with the dow futures up another 56 points. S p futures up by 4. 5 and nasdaq up by 13 overnight in asia, japan was closed for a public holiday. The hang seng was up by