boston. all dow 30 components ended in the red. after the so-called fear of gauge, the vix index was spotted at more than 40%. and the futures this morning after these declines, you'll see there are green arrows today, making up the ground loss yesterday. right now, the dow is up by 55 points, s&p is up by 5.5. gold is the major stoep story yesterday because it was down over 6%. by the end of the day, it had fallen to two-yee lows. the metal fell by as much as 2% today before buyers emerged. it had tumbled more than 8% by the close of yesterday's session. you can see right now, it's up by about $30. back to 1390 an ounce, but it fell well below 1400 and this was a big story we were watching yesterday. oil prices this morning are down once again. yesterday they regained some of the ground they lost in the earlier session. right now, oil is down by about 22 cents to 88.49. as for currencies, the dollar recovering from two-week lows against the yen. traders say that the risk sentiment is still shaky and gold prices will continue to have an impact, but right now the dollar/yen is at 97.92. dollar is weaker against the euro, trading just above 1.30. the u.s. ten-year at this point is yielding 1.719% and is can european stocks this morning. they're off their lows, despite some weak numbers out of germany, although you see some red arrows across the board. overnight, the markets in asia ended slightly lower, as well. you saw that the nikkei was down by 0.4%. and the hang seng was down by about the same amount. ross westgate will be joining us from london with more on the overseas markets in just a few minutes. >> okay. now let's go boston this morning. cnbc's senior correspondent scott cohen is there and he joins us now live with the latest. scott. >> good morning, andrew. still more questions than answers about what happened yet yesterday. domestic or foreign. who did it and why? but in this age of tablets and twitter, the morning paper still is the historical record and they are out this morning in boston. this is the herald, "terror at the finish line" and "the boston globe" "marathon terror." each of these articles including scenes of a grisly event that took place a couple of blocks from here. like. and for the runners, what was supposed to be tend of a dream turned into a nightmare. >> i thought for a quick second, is this a cannon thing, is this like a new ending? is this some kind of -- i thought it was a cannon. when the second explosion went, i knew immediately it was a bomb and everyone ran. >> the area hospitals then went on high alert. the medical workers here who are here to basically treat people coming in from a marathon were instead treating trauma and then injured were taken to several hospitals. as we said, more than 140 people injured. and now a full blown law enforcement investigation going on led by the fbi. >> this will be a combined federal, state and local effort. it will be an ongoing investigation. it is a criminal investigation that is -- has the potential -- is a potential terrorist investigation. >> and, of course, terrorism, the operative phrase here, whether it was organized terrorist groups, whether it was a smaller group or whatever, we don't know. there have been claims of responsibility online, but authorities are suggesting to nbc news that a lot of that is background noise. it might be people who are just being opportunistic. so we will see what happens. we're still several hours away from the next press briefing at 9:30 eastern time where we'll hear more from the fbi, what they found overnight and we should point out that authorities were at an apartment building in revere, massachusetts, about 20 miles away from here. we do not know what relation, if any, there was to the incident but it was a federal search warrant reportedly that was carried out. guys. >> do we know in terms of the law enforcement investigation, there's been various reports of different -- either suspects or questioning. how many people have been questioned thus far? are we talking about one or two people that they're actually paying attention to or is it much broader than that? >> they have not said that and they have been very careful not to say that. there are a lot of reports floating around in the immediate after malignant, as you might expect, in an event like this. and the authorities said yesterday at the press briefing that there was a lot of misinformation that was out there. they are talking to a lot of people, a lot of witnesses, which they would presumably do, looking at surveillance video and things like that. one thing that authorities -- or actually two things that authorities are looking out for, according to reporting by nbc news is an individual that was seen in the vicinity of the explosions wearing dark clothing. i have no description beyond that. and also a rental truck that apparently tried to make it into the cordoned off area towards the end of the marathon but was turned away.and, again, we don' specifically what the details are on that, but they are on the lookout for both of those elements. >> okay. scott cohen in boston, thank you for that report. we'll be checking in with you, i'm sure, through wrought the morning for more updates on what's going on. in the meantime, let's go to the global markets report across the pond where ross westgate is standing by in london. tell us how the markets over there are doing in response to some of this news here in boston. >> hi, andrew. we're down again today. we were down yesterday, not as heavy as the u.s. markets. we had about 6% losses for the ftse 100. kind of where we've been for the morning. you can see on the dow jones stoxx 600 decliners outpacing advancers by around about 8 to 2, somewhere around that magnitude. around three quarters of a percent losses yesterday. right now, the ftse not on the session low. down 0.5%. the ibex off 0. 5%. the xetra dax off 0.5%, as well. we got investor sentiment out of germany which was weaker than expected. that took us down to the session low. we had down nearly 1% at that point. a couple of stocks worth pointing out today, danone doing well on the global markets. strong growth in its asian baby food division leading the way higher. lvmh down 3.46%. weakness in the group's fashion and luxury leather business. the focus is still very much, of course, on what's going on with commodities. and we're just seeing spot gold at 1389. big debate going on about whether we're going to see even more technical weakness, perhaps no surprise in a slight rebound. what's worth pointing out is oil is still weaker at 99.07, 99.80. the nymex is down, again, 88.27. so there's a difference between oil and those precious metals, as well. take a look at the debt market for you. spanish yields doing okay today. we had, again, a t-bill auction in spain. they raised the amount they needed and yields were lower than they were in march. yields on the ten-year pretty well contained. 4.73%. italian yields lower on the day, 4 .31. so right now, yes, equities are lower, but nowhere near matching the sell-off that we got in the united states towards the close last night. and, of course, barclay out performing many of the other markets particularly in the commodities space. for now, back to you. >> ross, thank you. when was london -- the subway, ross? that was not that along ago, right? do you know exactly? >> oh, gee. >> a couple years? >> june 2007. >> and madrid, a lot of european cities used to this. we had the one and that was a shocker to us at the time because we always thought there was an ocean that would protect us. and it didn't, but in the last 12 years, we've sort of had this sense -- not complacency, but we've thwarted 10 or 12 of these. this is kind of a jar iring development. we're going to talk to some market guys about that and what else happened. but european cities and israel are used to this. but it's very unsettling in a place we know so well, especially in boston, you know. >> yeah. those two bombings were 2005, joe. i just remembered. the other thing is we've got the london marathon, as well. we've got the london marathon, as well, coming up this weekend. so, you know, there's a lot of security steps now being taken there, too. >> yeah. i don't know. is there any reason to think that, you know, marathons are now the venue for -- it could be anywhere, obviously. >> yeah. >> and even recently, i admit there are times where the security is very tight at wherever you are and like you, we still have to do this? and now you know we're going to be back, you know, 120% with this. ross westgate, thanks. this is what we do, market reaction to things which always is uncomfortable and strange. david joy, the chief market strategist at ameriprise financial, who is in boston on set, jonathan gullah, chief equity strategist at ubs investment research, david, you're up there. this is different -- i go back to 9/11. there was airplanes. we immediately had to gauge the effect on the travel industry and everything else. let's start talking about what happened yesterday and then we have to go to the commodities market and everything else that was precede ago pace before any of this happened. but do you expect this to have any long-term effect on markets here in the u.s., knowing, again, how vulnerable any big city is? >> my instinct tells me that the answer is no, that in economic terms i think the market, the economy at large will move beyond this relatively quickly. but at the same time, there may be some lingering impact in terms of investor sentiment. the sell-off clearly that occurred on friday and then again on monday, in my opinion, was a reassessment of the pace of global growth. important to point out that most of the weakness yesterday was already in the market before the bombings took place. but clearly, there is an impact on investor sentiment, a reminder that it's a dangerous world. and so you may see a little bit less of a risk appetite going forward. in economic terms, i think we'll move beyond it fairly quickly. >> yeah. john, i guess you would ask, at this point, you wouldn't think that consumers would change behavior based on this. it could potentially aveng -- i don't know, whatever group you want to talk about, jonathan, restaurants or any type of tourists activities. nothing to expect at this point, do you think? >> if you said to me are consumers going to be spending time watching their tv screenes and trying to figure out what that means instead of going out doing something else, yeah, that probably has a very, very short-term impact. the reality is, this is a human tragedy. i've never run a marathon, but i can only imagine what kind of accomplishment and then something like this. the market meltdown at the through the course urs of the day and then the tank at the end, you have a market that's falling apart and all of a sudden we realize it was something different and everyone starts calling friends and family in boston to figure out what this actually means. >> why do we think this is different than what happened beyond 9/11, beyond the sheer number of the size and scale of what happened? that has huge impacts. it was such a psychological blow. the nebs of people involved, the tragedy just felt so huge. and i don't want to diminish what happened yesterday. clearly it was a horrific situation and by the way could have been worse. one of the things we haven't focused enough on is apparently there were other bombs that don't know off. >> we don't know about that. i think part of is we're still waiting to get the rest of the information at 9:30. it's horrific, you can't believe it. but probably the loss of independence was more than anything. >> but even more than the loss of life, looking back at it, ann after 9/11, we ended up with a war in iraq, a war in afghanistan, you talked about airports, building that's we go into, the buildings that we go into are secure. think about the hundreds of billions of dollars and the change to society and even the whole way that we in the u.s. operate on the world stage has been changed. >> fundamentally. >> fundamentally. >> but we decided for some reason -- and i know it's a quick reaction and we're less than 24 -- for some reason, this is not -- there clearly is -- >> it is self-contained. >> this can be one person. it could be a lone wolf, it could be a sell of three or four guys. what knows. >> but does it put it back on the stage in a different way? >> well, we had 12 years where we didn't think -- we somehow dodged this. >> but today, we've spent 12 years hunting bad guys. and i think that the whole -- you know, so i'm not sure, again, putting asiding the human tragedy, do we conduct our affairs as americans or a government or military differently because of this? and can we don't know that this isn't just some lunatic and there's no information here. but i'm not sure that this changes the world the way this says. >> david, go talk about what was going on with gold in your view and with the commodities that started sort of last week and then accelerated. what was, you know, before this happened, what was going on? >> well, i think you have to go back before last week even. if you -- you know, a lot of people were paying attention to the notable divergence, if you will, between what was going on in stocks and what was not going on in commodities. especially industrial metals. they were not confirming the new highs that were being reached in the s&p on almost on a daily basis. and it was making a lot of people nervous that one or the other market was sending an incorrect message -- >> but commodities aren't necessarily correlated with equity prices, anyway, or especially financial assets or bond prices. they can move inversely. >> yes. but in this case, industrial metals. >> in my view, it was, in this case, a message about the pace of the global economy. there was a time of complacency coming out of the sequester and coming out of the fiscal cliff that we're going to avoid the second quarter slowdown this year that people have absorbed these fiscal headwinds and said, okay, no win back. and i think that that was maybe incorrect. and now we're at least trying to reassess that. and so commodity prices i think were saying all along, don't be so sure. don't be in such a hurry to conclude there would be to impact here. and i think the markets caught up with that. >> and if you ascribed, jonathan, what people didn't think was justified, if you give credit to the federal reserve for being so easy, you would have thought maybe that that would have been reflating commodities. they should have gone along based on debasing the currency and i don't know whether it's good that they didn't. i mean, it almost makes you feel a little better if the dollar strengthens, given what all the fed has done. i don't know if i want gold headed up over 2,000 with this. >> yeah. but if you look at the trade, we just put out a note today basically highlighting this weakness. but every single major release in the month of april has come in weaker than it was in march and weaker than -- >> is deflation back? is it something to worry about with the fed like it is? it really could do it. >> it's shocking. >> it is shocking. >> when i talk to equity guys, they're not focussing on japan. when i'm talking to global macro hedge funds, they see that all this money printing in japan is very dangerous and they actually point to, in a very bizarre way, that there's deflationary risk to access money printing if you get a capital flight out of japan, could that put the japanese banks under pressure if all of a sudden there's rising interest rates on the back of that and is japan playing a very, you know, scary game and they're actually pointing to that as a potential reason why. and the tips market is basically telling you that there's a wave of deflation coming. >> i think the vix is partly the stock market and partly the uncertainty that comes and the fear that comes from a event like that. david joy. >> there was, if you looked at the volume on the new york stock exchange, it's pike issed at 3:00 yesterday. it tends to spike in that last hour, but by more than usual. >> you knew there was no coming back after the markets in a way. you could just stand aside. thank you. still to come this morning on squawk, we will have more on the fbi's hunt for whoever set off the two bombs at the finish line of the boston marathon. plus, we will head to chicago from the early buzz from the trading pits there. first, though, as we head to a break, take a look at the futures. after the massive losses yesterday, down by more than 260 points for the dow, you can see this morning, there are some green arrows. dow futures indicated higher by about 47 points above fair value. s&p futures up by just over four. squawk will be right back. carfirmation. only hertz gives you a carfirmation. hey, this is challenger. i'll be waiting for you in stall 5. it confirms your reservation and the location your car is in, the moment you land. it's just another way you'll be traveling at the speed of hertz. welcome back. if you're just waking up this morning, u.s. equity futures are indicated to open higher. you can see that we're up 19 on fair value. so the 68 or 70-point move that we've been seeing, you have to take off 20 to get to it. upward pressure of just under 50 points. more interesting might be is where gold is today. it's rebounding a little bit. but just looking at that number, 13 -- and yesterday, remember, we saw it at 1390 in the morning. we baent to 1410, 1420. and then mid day, all the way back down to 1370, 1360. after -- you can it right there. a lower highs and if you can just draw one of those technicians use, draw those two line band along there and you can see the highs are getting higher and the low res getting lower. >> and earlier this morning, the numbers were down by 2%. you're seeing this bid come in, still a gain of less than 2% after the massive declines yesterday. more than 8%. not massive bounceback. >> and you can figure some connection to what japan has been doing. i mean, if you try hard enough. basing the yen, the money leaves japan, looking for somewhere else to go and then that causes some people to sell gold. and sell off, right? >> and cyprus, supposedly. >> it's interesting, that's the same thing people said about the shares of apple when they were selling off, that you had to sell your winners to pay for other stuff. >> if you need liquidity, you go where -- >> i think it's more japan than cyprus, don't you think? >> it's more dependent on cyprus? >> no. more japan than cyprus. >> there were rumors that cyprus was selling gold. >> i saw those rumors. >> to get it started, there were so many -- and it was pointed out yesterday, i think i was reading something from peter chip, who loves gold, that when it went up to a thousand or 1200, maybe that was all fundamentally true. but then once it went up to 1200, but then once all the investment guys that were having trouble getting returned in equities, once they saw that there was momentum there, all kinds of investment money went into it to try to chase return. >> but he was saying 1200 is fundamental? that's still down a couple hundred from where it is now. >> there were people saying 1260 people last week saying 800 or 900. >> so does bid coin track gold? >> apparently. apparently it collapsed overnight. it was down at like 57. >> you own some bitcoins, joe? >> i don't. did you -- what did you use where you were? >> we were in vietnam, so we neat vietnamese -- >> you converted to vietnamese money? >> vietnamese money. and we were in cambodia and i think, frankly, we used a credit card most of the time. >> you did. >> and we used american -- actually, in cambodia, a lot of u.s. dollars. and in vietnam, u.s. dollars were good, too. but we