We are seeing the euro at 110. Things have appeared to calm down a bit. What about the oil markets. Crude oil rising yesterday and looks like it will rise again today. We are seeing crude oil up 57 cents a barrel to 48. Yield on the ten year treasury note unchanged at 1. 45 percent. Get ready for Mortgage Rates to fall again. If youre a metals investor, youre up slightly this horng. Those explosions rocking turkeys largest airport last night. It appeared to be a coordinated attack with gunmen opening fire at Turkey International airport in istanbul and detonating decides bombs. Much of it kaugtd on video that has been seen since that point. Turkey is blaming isis for the attack. Joining us now, its great to see you this morning. Good morning. It feels like we are talking to you more and more often about attacks that are taking place around the globe. What do you think is happening in turkey. In is the fourth or fifth attack in turkey just this year. There were others earlier. The earlier attacks were kurdish, but the latest string of attacks all of them have the hallmarks of isis. There are a couple of reasons for this. Turkey, which has been kind of aloof from nato for a long period of time. Pretty much a pop list and controlled airspace. Didnt want to fly out to conduct attacks on iraq and syria now has started to let us do that so were now flying attacks out of turkey into iraq and syria. Second, it looks like he is trying to straighten out the relationships with others in the region and a lot of it has to do with terrorism. Apologized to russia for downing a war plane and perhaps most important mending fences with israel. All of us have security inter t interests revolving around siefs. Theyre going to continue to do this stuff. Theyre in the region. Theyre part of nato. They figure they can lever attacks on turkey to get the United States to quit bombing them in syria. Turkey as you mentioned as seen its share of attacks from the kurdish, the pkk. That had seemed to be more of the focus. Thats what the critics said. Do you this the attacks like this will sharpen the focus when it comes to the problems with isis. I think it will. Test interesting we complain to turkey about it. Its refusal to engage and prevent syrians from crossing the border. One thing to keep in mind here is that turkey has got mandatory compulsory military service. I think turkey not is going to start deploying some of these people along the border to do what we have asked them to do and that is to stop the ingress of people from syria into turkey or at least to check them out when they get there. This is a very, very complicated issue and i think the leadership in turkey now is going to be much more focused on its responsibilities in the region. Its interesting to know that next week theres a very big nato summit now. Turkey milltarially has been a very close ally. Except for some bumps weve had with them, weve been on the military channels alone with respect to trading intelligence information, weve been very close to them. I think there could be some very interesting outcomes of this summit thats next week. If there are public pronouncements, it will be interesting to see. If there arent, there will be protocols that will be established to reimmigrate turkey to what appears to be a worldwide attempt to keep isis from morphing, from spreading and focusing its attention. If we have a minute or two more. Theres one interesting thing that came up overnight and that is isis apparently a number of sources have said there are Something Like 30 or 40 operatives that have been inside turkey for a month. This attack yesterday was obviously wellplanned. Two or perhaps three bombers. It was wellcoordinated and there could be more of this unless turkey makes an effort to the stop the ingress of people from syria. Theres one other thing to keep in mind. This actually had a lot of similarities to what we saw in brussels too. Not just in turkey. Yes, it does. Keep in mind also that the toll would have been much higher had turkey not had very good security at the airport. Their Airport Security is out away from the terminal. In the United States you walk right into the terminal. Not so in turkey. The toll would have been higher had these guys been able to get through the terminal area. Thank you for joining us this morning. Thank you again. Bring you the story as well. Senate democrats blocking the gop 1. 1 billion to fight the zika virus. A hand full of provisions that had been added to win support. They added a number of things that had nothing though do with zika. These were grants, restrictions on federal grants. Would provide Birth Control to women in puerto rico that were threatened by the virus as well as temporary lift of clean water that had been thrown in there as well. It falls short. Neither side looking forward to leaving washington next month for a sevenweek recess without addressing zika, but lawmakers will have two weeks now to negotiate between the july 48 holiday. Its much more than that. Part of it is theyre taking the republican bill takes funding from ebola to move back through. Neither side is bending. We have had the cdc telling us you can expect it here this summer. Both sides are going to have to give on this. Its ridiculous to hear the stands back and forth and each side blaming the other side entirely for it. What you need is a clean bill that gets passed. Both sides to instant up and say okay. What was the piece the democrats threw in that wasnt straight zika. There was stuff that goes into potentially for Climate Control issues. Have been on the rise so theres funding. Fair enough. Need more bats. There was a problem with bats. Im not kidding. Bats have been returning. Bats eats thousands of mosques each per night. We need to be realistic about this and spray pesticides. We have not been doing a good job. How about bats that separate pesticide. I take this issue very serious as a pregnant woman. I train bats. In the meantime, we have some more zika news. The top golfer wont be competing because of the threat. He wont travel to the game because of the possible risk and danger it could pose to his wife. This announcements coming just after a rory mcilroy. Leaders of canada and mexico today to discuss importance of trade. Formerly known as the three amigos will hold a komps in canada this afternoon, but a very different tone on trade than the campaign trail. Donald trump has some harsh words for the tpp. A rally in ohio last night. Blamed a wave of globalization for wiping out the middle class. Promised to store lost factory jobs by backing away from trade deals and withdrawal the United States from the tpp once it is ratified. The Transpacific Partnership is another disaster done and pushed by special interests just to rape our country. Its a harsh word. Its a rape of our country. This is down by wealthy people that want to take advantage of us and that want to assign another partnership. In the meantime democratic candidate Hillary Clinton advocated for tpp, but came out against it last fall because she said that once it was negotiated, it did not meet her standards. Trade is an issue that both sides have run from, but Donald Trumps comments on this were quite a bit stronger. Politicians dont have the power to impact where things are made. You know who does, consumers. If we choose to purchase u. S. Made goods, spend a little more and see the demand i know it sounds simplistic. Everything coming down to price. The reason that moves offshore is cost of production. Why does cost of production matter because people dont want to spend money or they dont have the money to spend. Because the jobs have moved offshore. Its a downward spiral. Do you think we have the choice. Theoretically we do. Theoretically, but most people cant really look at the label and are not always going to decide they can buy american and the numbers dont add. Because the jobs have mooufds overseas because price matters so where does that chain end . I think theres a completely missing piece of this argument which is ultimately the technology has robbed this country of jobs, but the larger march here is technology. Would argue even over the outsourcing of everything. Even if you look at a town like pittsburgh, so many of those jobs became medical jobs. Its a much more complicated than whats being addressed. Are you suggesting politicians are. News at 11. We have to get to wilfred. European gathering the uk. Frost joins us in brussels right now. Hes got the latest. Andrew, thank you very much. Yes, indeed. Late last night we had Prime MinisterDavid Camerons final ever press conference. Hes been kicked out today. The other 27 members are still meeting behind me. The Prime Minister was in a somber down beat mood, but the content of what he had to say was fairly constructive. Here are his comments in terms of what he thought other leaders made of the uks decision to pull out of the eu. There was universal respect for this decision and this decision will be carried through in britain and is understood it will be carried through here in the European Union. The tone of the meeting was one of sadness and regret. Reporter now the president of the Eu Commission mr. Juncker struck a more critical note. I thought that if you want to leave, you have a plan. You have a project. You have a global picture. They dont have it. Reporter now, as i said, the other 27 members are continuing their meeting. They did however say a formal brexit meeting will take place in september once the new Prime Minister is in place. Its a sign of the extraordinary divisions and turmoil in uk politics in the moment that as David Cameron went home early this morning, another uk politician arrived in brussels. Taking meetings in the building just across the road of the European Parliament to see what sort of special deal she could get out while scotland overwellingly voted to remain. She will also take a meeting with mr. Yunger today. All right. Well see you again, im sure. Thank you. Lets get back now to your markets. Stocks could look to add to yesterdays gains. Now yesterday we jumped 270 pounts in the dow. We had buying into the close. Thats usually a good sign for the next day. Thats what weve got now. Indicating a gain of 100 points at the hope. Her is a Global Market strategist. Along with david joy, chief Market Strategist at aher prize financial. For two days it was all doom. Today appears everything is fine. Please note a little bit of sarcasm at my point. What do you attribute yesterdays fwans and just the general rise of volatility. Sure. Friday and monday were characterized by a risk offset element. Peopling selling across the equity. Now you have a little bit of people coming in looking for opportunity. Realizing the rally of last week before friday was pretty significant. So to get back to some of those fair value levels that were seeing today and yesterday as well. Do you think theres a recognition that yes the brexit may have a monstrous impact, but if it does, it will likely be down the road. We dont know when it will be implemented or what will happen. Everyone is just guessing. Do you think stock prices are going to be unaffected by brexit for at least the next couple of quarters. Its a tough one to call. You make the right points. The uncertainty is not going to go away. We have a few months before the government gets itself figured out. We have more months to see what an eu exit means for the uk. So the actual implications for the Global Economy are going to be muted and uncertain and drawn out. Now a bit of that shock is being swallowed. Lets look at where the fundamental is at. Youre seeing that occur in the europe industries. For example, the ftse 100 which is comprised of multinationals that will benefit on a lower pound is doing better than the mid caps which have taken more of a beating. Investors are starting to understand that differentiation and playing that the in the current market mood and looking forward for the uncertainty that will come for many months. You and i have been talking for a long time. Sadly i think ive been doing this for a long time through multiple crises and i remember the dow at 7,000 when i started my career. Its now at 17,000. We lurch from crisis to crisis. Stocks do tend to go up. Is a good piece of advice to keep calm and invest on. Yes, for the longterm investor. This event is going to start to appear in the Economic Data over the next month and next couple of quarters and as a result, i think that we may have seen the near term highs for the Global Marketplace for a little bit of time here. So in the interim, i think you need to be a little bit cautious. Longer term, i think were going to be okay once this gets sorted out, but theres a good chance the uk goes into a recession and i do think that a big issue for the United States is going to be what is going to be the relative strength of the dollar here. Youve seen the dollar move higher over the last couple of days. If that persists its going to be awfully tough for the u. S. To start producing positive Earnings Growth in the second half which was the. Do you think well see an earnings contraction . Not producing growth is different than a contraction. Do you think corporate earnings will begin to contract . Because thats means prices that means stock prices have to come down. Certainly a chance the Energy Sector is going to be washing out negativity, but if the dollar persists then the Energy Sector and materials more broadly are going to struggle. Not only that we know the export part of our economy has been weak going into this. This strength in the dollar is not going to help. The eu is an important trading partner of ours. I dont think weve seen the full story. Its going to unfold over time. All right, david joy, thank you for your time this morning. We do appreciate it. Coming up when we return, nike falling at premarket trade. Were going to talk about it. Company reporting revenue and future orders that fell short of the estimate. Were going to get through it when we return. We got another one. I have an orcogram for an owen. Thats me. You should hire stacy drew. She wants to change the world with you. She can program jet engines to talk and such. Her biggest weakness is she cares too much. Thank you. My friend really wants a job at ge. Mine too. Im a wise elf from a far off shire. And sanjay patel is who you should hire. Thank you. Seriously though, stacy went to a great school and shes really loyal. You should give her a shot. Sanjays a team player and uh. Amazing sleep stays with you all day and all night. Sleep number beds with Sleepiq Technology give you the knowledge to adjust for the best sleep ever. Dont miss the lowest prices of the season going on now, with our bestbuy rated c2 Queen Mattress now only 699. 99. Know better sleep. Only at a sleep number store. Thank you. Ordering chinese food is a very predictable experience. I order b14. I get b14. No surprises. Buying business internet, on the other hand, can be a roller coaster White Knuckle thrill ride. Youre promised one speed. But do you consistently get it . You do with comcast business. Its reliable. Just like kung pao fish. Thank you, ping. Reliably fast internet starts at 59. 95 a month. Comcast business. Built for business. Nike taking a big tumble. Thats lower than the 8. 28 billion they had expected. Rising 11 . That was short of estimates as well. This number is closely watched by investors not just for nike, but a signal for everything. Joining us right now is Equity Research analyst. Are these nike specific issues, do you think. I think what you have is a choppy backdrop. Not just here domestically, but globally. What nike needs to do is continue to show invasion. The report last night was mixed. The revenues were soft like you talked about. Gross margins are weaker. They need to show the invasion. Particularly in north america. Its whats going to be separates. Is this a story about the sell of apparel, slow down across the board. Is this a story of competition. Whats driving to the extent you think theres challenges . Whats driving it . I think its less commission. I think its more broad based consumer being more picky in terms of what theyre buying. Holding back i think tourism, nike is not immune to it. I do think competition is something worth noting you do have under armor now, r, you ha adisagree das, you have nike. To me thats more than enough growth. Weve actually seen shares of under armor under pressure just like nike. Is this a situation where you like one company over the other. I think the space is verys to be negative. You have the low gas prices. All of a sudden same store sells whether or not coming through. Too many Dollar Stores in the u. S. Dollar general now its 20 times because things have normalized. Inventory has been heavy in athletic. Lieu lieu l lululemon was the first to say it was clean. You think this is a buying opportunity for all of these stocks. I think athletic, once the dust settles is a place to be. Its the invasion bucket thats really going to separate the companies. What are we about to see. What about the basketball schools, down. Air jordans are the only thing up. Why is that. Basketball as a hole is not the issue. I think its signaturele basketball at nike thats been the issue. So if you see under armor put out the curry shoe. Absolutely on fire. Right price point, consumer flocked to it. If you look at nike, completely sold out this week with invasion bind it. Lebrons shoe was off. More made for jeans than shorts. This to me is up to nike. If they put the invasion out there. They have the brand name and the quality. 12 months out what do you think the stock is worth. 12 months out we see 06s to 70s. I think thats fair value for nike. Any brexit risk. Weve been evaluating the brexit exposure to all of these names. How can you do that . How does anybody analyze the brexit. We hav