That decision due around 7 45 eastern and then draghi will be holding a News Conference that starts 8 30 eastern. The dax is down by less th than. 2 . What is that . The euro sitting at 1 13 versus the u. S. Dollar. And crude oil price, prices initially falling over night. Wait a minute. Contract rolled overnight. It was 40 yesterday. This is rigged. It was 42. At one point in the day it was at 42. This is the rnc. This is rigged. This is like Reince Priebus is controlling the further and further out. Going to 85 and like a no brainer. Its 40 now its 44 just like a contract roled. Its rigged. You cant go from 40 to 44 overnight and i looked at crude yesterday and it was 42 and change. Must have been up then. And looked at that it was 43 and change. So yeah. Rigged. We got Reince Priebus and trying to get him mad. I think we did that already. Hes so defensive. Have you seen him any of the shows. Theyre preparing for cleveland. Down in florida with ted cruz for three days. I know. They spawn this whole and then just keep doing things just to stick it into him. And do you know why trump won 60 percent of new york . Because he kept saying that. And everyone forgot about the abortion they forgot about Everything Else and thought wait a second. This is rigged. Oil reversed declines after the International Energy agency said 2016 will see the biggest fall in non opec something something. Headlines in just a bit. Well also talk more politics. Before that we want to go live to greece. The olympic flame is being lit in olympia, greece. The torch will now begin a relay that ends Rio De Janeiro brazil for the opening snoins of the 2016 summer olympics in august. One of those great images. Anyway, a very busy day. We got weekly jobless games at 8 30 eastern. And the results of the philadelphia feds Business Outlook survey and on the earnings front this morning, bio gen ie deck. And more. After al ab and volkswagen buying back cars that cheat emission tests. It is not clear at this point how much money each person will receive. At the Kelley Blue Book value or paying what you paid for it . Thats agreement expected to be announced today during a federal Court Hearing in San Francisco. Several. And by the way would these payments if you were an owner of one of these vehicles would this placate you to the point where you say im going to go back and buy another one. If you are doing this because you are environmentally green and thinking this is the right thing to do you are probably ticked off. You bought a diesel car. There were a lot of people who bought a diesel car thinking it was more environmentally down. Thats not what im talking about a. You dont have a car . Like talking about sex with the pope, right . You dont know anything about and hes making the rules and. Emc became the third old guard tech company in three days to report disappointing results. Ibm and intel. That is not tech. That is not mobile. When cramer said netflix. Already disappointed. Tech. Its old. Call it whatever you want. Its the old guard. They were watching this and wrote the story based on our discussion i think. Although print people they dont respect us i think. They probably dont watch us. When i worked at the wall street journal it was like an issue to get into the office by 10 00. Several stock movers up. American express moving higher after reporting First Quarter earnings that topped expectations. Now this is a dow component. That is a dow component. The others, i dont know. The Credit Card Company benefitting from strong net interest income. Customer spending and fees with card member spending up 6 for the quarter. Can it be an American Express card on the phone when you are paying . They could transition to the new world. They are on my phone already. So they will do that. Cant you cut them out the middle men . Theres got to be someone whos processing the middle man. Yeah right here. Well you do it. I dont want to show the number. Dont put its just the number. Oh right they can freeze got it. I did that once. Had to get a new debit card. Ceo saying the company added 3 million new proprietary cards in the First Quarter. Shares of yum brands moving higher. Posting a big earnings beat. Revenues were up 5 . With yums china division, realizing same store sales growth of 6 . And shares of mattel are tumbling. Posting wider than expected quarterly loss. The toy maker, maker of barbie and hot wheels and reported gross drop of 6 . Ceo said the company was still on track to meet guidance for the year. In the meantime president obama is in saudi arabia this morning attending a secure summit on isis, iran and regional stability. The president will speak to the media in the 8 00 hour this morning. Treasury secretary jack lou bag in on the Energy Market and we asked lou about the state of the economy. I think the saudis like all Oil Producers are coming to terms with what is a lower price of oil for now. One of the things we all know about oil prices is they go up and they go down. And you have to plan on a certain amount of volatility if your economy is based on a commodity like oil that fluctuates in price. Lou also spoke about changes ths to the currency and javers has that story in minutes. Yesterday the stocks closed higher. Same for the s p 500. The dow futures up about 34. S p by 2 and nasdaq just over 1. The ten year note yesterday hit its highest yooeld since march 30, 2016. Sitting steady at the same rate this morning. You can see the dollars down across the board. And gold prices were up slightly yesterday and this morning. They are up another 7. 70. Oil was ripping higher yesterday. Thats why 44 looks even crazier. When i looked there was only a dollar difference between the new contract and the old. Usually you can see a bigger difference than that. Both averages now up over 13 since the lows of the year in early february. Joique us now are carl tweeted something out and ive been talking about in this morning. A chart that showed the shoulders. But you can craw a down trend down. So lower highs and lower lows. And i dont know whether the one year shows it or the two year shows it better. People have told me a reverse head and showeders. Lets look at longer one. The lows are lower. And we havent made it to a new high yet. So if you draw a down trend line. Does it matter that the shoulders are crooked . We just called it a complex head and shoulders. Isnt it bullish . Or does it have to get through prior highs. Right now the market is at a very critical juncture, where we have the. In reality you need to confirm a breakout. So you need to spend more than just a couple of days above, really a couple of weeks above to confirm the reversal. Next two weeks. Were at a proving ground. How has the leadership been . How broad . Its up and downed. Leadership from the likes of energy. The crude oil has generated performance there. Skpm the significance, the energy spdr is moving above its 200 day versus the s p 500. Now we see performance from financials. So we get earnings out of way and the financial spdr very the s p 500 and looks like it could be a double bottom. I think our lips are going to be saying 19,000 and 20,000. People dont really think that. We got to a point a couple of months ago where people are saying this markets done, its tired and. Thats why i feel like the financials are going to be key. If indeed we can see it move higher. Ive had a bearish bias really. Are you ready to change in. Well i have to listen to the market. Im a technician and it is momentum. So it is all in how you balance your voes of overbought, oversold conditions and momentum. And momentum is win right now. And now were going to go to someone who never listens to the market and is mad the market doesnt listen to you a lot of times and does what it should not be doing and totally illogically. This has gone a lot further than i thought it would be. Ed needs to smart b up and do what my bearishness has really been around when qe is on the market goes up. When it is off it doesnt. In 2013 the New York Stock Exchange index is where it it was in 2013. Qe ended in 2014 it is pretty much where it was in 2014. Were at the krucrucial poin we are. I want to follow see whether it is a nominal new high or something that is real. To me the real action of interest is whats happening in kmovld prices. I think this bottom is for real. It is not demand driven, it is supply driven and the inflation statistics in the second half of the vpt year because if you combine, the feds could have an interesting situation on their hands. A weird point. Equities and commodities are correlated positively somehow. Well, thats the thick. Commodities have been falling five years. The stock market has been going up five years and now all of a sudden. Stock market wont like that. If the rise in commodity was demand driven and maybe the growth is actually getting better. But if they are more supply driven that is not necessarily the best thing. Assuming the decline was demand driven. In certain it was. But certainly in others it was excess supply that is now responding to theich drop in prices. So that is the next dynamic people should focus in on. You know, rates have skyrocketed in germany. From 15 basis to 20 basis ridiculous. Imagine if Commodity Prices continue to go up if where it is going to go. Central bankers created this bubble to get higher inflation and manual what happens to that bubble if they get inflation. But they want. The story is the traders want more qe. More lower rates. More better blues. 70 of the market is negative Interest Rates. Did you awrap . Really . Okay. Were wrapping. Two weeks. We got to watch. Stay where it is or go up a little more . Its got to go up a little more. There is something im missing. Were. Were going to have a big plate of crow here. Wouldnt be surprised to see markets go up. But then come back down. Were also approaching may. Right at the time when were looking for this proof. Couple more stocks to watch today. United continental reporting better than expected results. Also qualcomm forecasting Third Quarter profit below whew the street was expecting. The firm is looking for chip shipments to fall and that stock is down by about 3 and a quarter percent. Campbell mentioned many prominent executives in Silicon Valley and he passed away earlier this week. Alexander hamilton will keep his spot on the 10 bill but the 20 bill is getting a makeover. Harriet tubman is taking over for Andrew Jackson. Details in a moment. You shouldnt have to go far to get the help youre looking for. Thats why at xfinity were opening up more stores closer to you. Where you can use all of our latest products and technology. And find out how to get the most out of your service. So when you get home, all you have to do is enjoy it. Were doing everything we can to give you the best experience possible. Because we should fit into your life. Not the other way around. Harriet tubman is going to be replacing Andrew Jackson on the 20 bill and hamilton will remain on the 10 bill. It is not just the public reaction and the broadway fans. These are people who are huge fans and historyians who looked and said this is not guy you should be moving. He initially said what he wanted to do was put a woman on the face of the 10 bill that. Would move Alexander Hamilton off the face of that and caused a big human cry. So they stepped back and reevaluated and jack lou said he had an a ha moment. And that led them to this sweeping set of changes. Harriet tubman becomes the first African American perp to go sonn the face of u. S. Currenciy reve. Harriet tubman replaces Andrew Jackson on the front. Jackson will move to the back along with the photo of the white house. And ton the new 5 bill, the bak will feature Marian Anderson and dr. Martin luther king and civil rights lawyers. This was a decision he came to over time and he felt it was in fact time to move forward with all of this. We also heard about literally hundreds of ideas of things we should represent. Fairly early in the process we made this bigger. We said this shouldnt be about one picture on one bill. Im very excited about it. I think it is much bigger than just honoring one woman. This is about saying that our money is now going to tell a much bigger part of our story. It is going to take years to get all of this through the process but jack lou said even though the Obama Administration is expiring he say hes confident whoever is the next in line will keep these changes on track. This is years in the making. A decade for some of these bills before they actually get into circulation. What do you think the real chance is somebody tries to undo this, change this or switch some of these people . Well that is certainly a possibility. New administration will have new ideas and a new treasury secretary will have the authority to put in whatever changes he or she would like. But jack lou said i dont think whoever is going to come next will want to change this. By the way. It is an executive order . Apparently it is at the discretion of the secretary of the treasury. He can simply do this. They dont need congress to weigh in here. This is the Treasure Department deciding this and rolling it out on their own. Great choice. Saw it yesterday. We were all watching. Great choice. And i dont need to wall street journals editorial page normally. They always get it right. Inspired choice. Harriet tubman. Then they get a little bit i dont know. They point out the irony. No doubt some american wills call this a case of political correctness. Jackson a southern white mail who owned slaves is replace bade woman ed by a woman of color. And then this gentlemen makes the case that on 20 bill, ds, democrats are replacing a democrat with a gun toting christian evangelical woman. History is delicious sometimes. Up on the capitol there is a series of paintings on the senate side of the building and they feature friscos with historical scenes and some of the spots there are blank and he left them blank deliberately because American History is not a static thing. He said that future generations are going to produce future Great Americans and were going to leave space for those deeds to be recorded as well. And that struck me that American History is constantly moving and constantly changing and reevaluating who the great ones were and what the contributions were to our story. To escape from slavery, that the is not enough. Go back and become a northern spy and basically led raids and recruited people Pretty Amazing. And advocates for womens right to vote. And you could go and took the operation up to canada and Pretty Amazing. So an inspired choice. Were going to talk about a company that may be inspired too. One of the best funded start ups we know almost nothing about it. Magic leap just closed funding and they dont even have their first year. We get annen inside look next. Take a look at yesterdays s p 500 winners and losers. They say that in life, we shouldnt sweat the small stuff. But when youre building a mercedesbenz, there really is no small stuff. Every decision. Every component. Is an integral part of what makes the 2016 cclass one of our most sophisticated cars ever. 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Go pro with crest prohealth advanced. Moms right. Again we rise above our differences. The right amount of garlic reigns supreme, and what separates us is mostly whether were chopping or frying. Food is a language we all speak. When we cook together, we find harmony in the kitchen. We make more than a meal. Enjoy fresh ingredients and healthy recipes, delivered to your door each week. Subscribe today, at hellofresh. Com welcome back to squawk box everybody. Cnbc, first in business worldwide. Weve been watching u. S. Equities. They have been a little higher. Six out of seven sessions the dow and s p 500 have closed higher. The dow is up 35. S p up 2. 5 and the nasdaq up just under a point. Our executive edge this morning. The secrets of Virtual Reality magic leap. One of the best funded startups in history. Raising a half billion dollars. It has yet to produce a single product. Senior editor of wired magazine part of the cover story on imagimagic leap. Visited the Head Quarters and met with the ceo. He explained all of the things he was doing with this stuff but i couldnt understand what he was trying to do. Yeah hes like you take a little bit of star wars and the hobt and mix them together and boom. The ceo of google joins your board. Bit and mix them togetherd boom. The ceo of google joins your board. What is magic leap . He calls it mixed reality. Right now were seeing Virtual Reality and heard of augmented reality. You put the gogs agles on and y can see the real world. And his is the next step. A visual overlay