Shanghai composite up by 0. 2 . The dax is down by 2 . The tenyear yield, 2. 24 . A couple of big headlines were watching. First one, crude prices. Wti crude trading higher after the ministers of saudi arabia and russia agreed needing to extend the cuts. Including russia agreed to cut output. Deciding whether to extend that agreement. A lot of folks will be watching for that. Also, a big developing story out of north korea, the Company Announcing the missile that carried a heavy Nuclear Warhead is capable of hitting targets in the pacific. The latest launch was widely condemned by the u. S. , japan and south korea. The white house calling north korea a, quote, fragrant menace. And urged allies to enforce stronger sanctions. And then on this weeks agenda, it say big week for retail earning. Those earnings have been not so hot. Home depot and tjx. And wednesday, target and l brands. Thursday, walmart and gap. Also getting results from cisco, alibaba and campbells soup. And some disruptions from whats calling wannacry, Wannacry Ransomware worm. It wrapped up computers in 150 countries. The bug exploits a security flaw in windows xp. Once it infects a computer, it encrypts the files and then spreads to other computers. Wow, it just hit our teleprompter. I dont want it to happen nothing ever why am i not its in 150 countries. Everybody gets it. Youre feeling left out . I dont know. Do i not do things that other people do on computers . You know, your inews this is what andrew said that could have been the problem with it. Theyre not asking for 10 million. 300 through bitcoin. They want 300 in bitcoin. The attack has shut down systems in the uks Health Service. And prompted automaker renault to idle factories. Other organizations reporting infections. We saw this last week, fed sext. And it was based on Software Developed by figures, right, the u. S. Nsa, to spy on enemy computers. Microsoft released a Security Patch that fixed the vulnerability back in march. But many systems havent been updated. Were going to talk to a psycher security expert in a few minutes. Kind of interesting to see china infected, russia who did it i wasnt infected. Maybe i did it. I probably wouldnt be a ransomware hack guy. You dont have the expertise . Do you believe nsa, they know everything. They do everything, they know how to do everything. Did you see snowdens comments about this . Saying, yes, this is more of the problem with nsa, and our own plans to be offensive rather than being defensive. In retail, lets go to amy javers to top political stories including a search for candidate to replace fired director james comey. Lots of speculation about that. And more to the white house, eamon javers. Youre right, andrew, the reverberation over the weekend to fire james comey including this reaction from former director of intelligence james clamor who said the american institutions of government are understand assault. I think in many ways our institutions are under assault externally, thats the big news here, is russian enter neernsinn our election system. And on assault internally. Internally from the president . Exactly. Saying the constitution of the Founding Fathers is eroding. That comes from somebody that the white house is saying is exculpatory to them. He simply does not know where the counterintelligence investigation into the russian collusion exists so he could not give this white house a clean bill of health. Meanwhile, the white house determined to push forward as quickly as possible find a replacement for james comey. Entering at the department of justice, eight candidates over the weekend including Andrew Mccabe currently the fbi director who says hes not likely to be picked but interviewing john cornyn from texas, alice fisher, judge Michael Garcia being interviewed. Another judge, henry hudson, u. S. District court. Adam lee. Mike rogers, a former congressman, House Intelligence Committee chairman and fran townsend, Homeland Security adviser to george w. Bush. All being interviewed there. But the president squeaki ispea briefly an air force one saying he wants to make this process as quick as possible. I think the process is going to be quick because almost all of them are very wellknown. Theyve been vetted over their lifetime essentially. But very wellknown. Highly respected really talented people. And thats what we want for the fbi. Ill see you over at the school. Have a good time. The president is leaving at the end of the week for an extensive foreign trip. Its possible that we might know his pick for the director of the fbi before then. Democrats for their part in the senate are threatening to vote against anybody until theres a special compromise made for the votes. They dont have the vote to make that happen. They can simply cast rejection on the floor of the senate. They can vote over a majority vote anybody that the president nominates. Thank you, eamon. Can we go back to eamon do we think theres a wholesale changeup in the white house between now and friday before they make this big trip . Look, there are a lot of rumors out there. Ive been asking some people, its very hard to get a read on where the president is right now. The fallout from the comey firing has been pretty intense. The president , you know, on friday tweeting that he might have secret tapes of james comey. He might have a secret taping system in the white house. Thats getting a lot of attention. Theres a lot of confusion swirling around in the white house. The president is reportedly angry at his staff. He didnt feel they rolled it out very well. Who is behind it. And will he do that before he goes on that massive trip. He might want to make to make any changes after that. But this president could wake up this morning and decide to pull the trigger and replace him or sit tight. Okay. Twitters Ceo Jack Dorsey speaking out about President Trumps use of twitter as a social platform. Dorsey sat down on sunday today and responds to critics saying that saying President Trump shouldnt use twitter. I believe its really important for our leadership. I believe its important to hold them accountable. I think its important to have the conversations out in the open, rather than have one behind closed doors. So if were all to suddenly take these platforms away, where does it go . What happens . It goes in the dark and i just dont think thats good for anyone in that. Obviously, dorsey would be defending his platform. But he brings up an interesting point. Weve said all along that people are watching what he says on twitter, it is a direct line to the president. It is a direct line to see what hes thinking. I like the tweets. I do. And i like the ability to say exactly what, you know say exactly what he says without having it go through the however he decides to write a story. A couple big stories today, andrew, Washington Post says that the senators dont know what to do let me see what they say and the New York Times did a center piece. This is the senate gop wrestling with the agenda now because its full of peril. Mike led said, yeah, sometimes, if this stuff happens, it can bog things down but were going to do it either way. But they talked to another guy who is speechless. And i read it and they said they asked them as he was getting on an elevator what was going to happen and he smiled at them. So that speechless . And then i read hold on then i read the New York Times, senate gop is edging back from the president. And they were able to come up with several republicans have openly questioned. So several is two, i think, isnt it . Yeah. You got mccain and you might have i dont know, what other one. Realize that most people, most people read these tweets. And some of the things that have happened. If you look at just the Approval Ratings of the president you look at the Approval Ratings of his decision to fire comey, irrespective what he did you think he should have done or not, most people think its incorrect. The polls just the veracity of polls in general, that we see. After the election i dont see that twitter though, to take those tweets, you can disagree with those tweets but its an unvarnished view. Thats true. And reading, listening to clapper, or listening to the very basis of you know, the countrys democracys in question. If you read rosenstein read the reasons, read some of the stuff that the journal has been writing. Theres a hundred valid reasons do you realize that the president or his people said one thing. I understand. And he said something completely different, you do recognize that . Yeah, i do recognize that ben rhodes when talk about Jonathan Gruber with obamacare said it was attacking. I do rec nice that susan rice came out and said every single thing that happened in benghazi is because of yeah, ive been watching washington for years. I do see how they operate. I mean, seriously. I was told id be able to keep my plan and my doctors. I was told that the irs would in no way server if you think that all of those things are awful which i think you do, ill hold your hand on that and say, you know what, i dont want anybody you didnt do it when it was happening for the past eight hours. You cant go retroactive and go back and have those things bothered you, they never bother you before. We have a problem with people spinning and lying, we have a problem with people spinning and lying all the time. Also with your words about the definite kit and not being revenue neutral. You should have been talking to me during the stimulus. So, now you want to no i just wish you cant go back and change history. You needed to be concerned all along. Its only 6 14 in the morning on a monday. Right. I mean to hyperventilate Everybody Needs do you read the journal once in a while . Yeah, i do. Theyre not so thrilled about whats going on right now. You cant go to mother jones and i have not been to mother jones lets get to the broader youre not a contributing editor. Joining us right now to talk about the markets is chris cordero, he is managing director, chief executive officer and chief executive officer of regent landing. And bruce from jpmorgan. Gentlemen, welcome. Chris, lets talk about the earnings season. Its been an incredible a strong earnings season, what do you expect to see next . Despite what is going on in washington, earnings season has been really robust. What i think is the most positive thing, usually after earnings calls theyll guide lower. Theyll try to ratchet in expectations sometimes and that hasnt happened. I think that bodes favorably for the rest of the year. Is that strength from consumer, strength from businesses or kind of strength across the board . I think its straight across the board. You got Consumer Confidence up. Youve got businesses feeling a little bit better. Despite whats going on in washington, ive seen positive stuff on earnings sides. Bruce, are you seeing the same things on the economic side . I think weve seen some growth, and pick up on inflation. I think its been soft particularly on the consumer. I think whats been driving the world in the last six months is the pickup on business spending and particularly outside of the United States. I think what were seeing growth is holding up but were going to see it pick up, were seeing china slow down. The growth is solid. I think the earnings numbers are solid. I think the surprise in the last coming of weeks is on inflation. Were now having very low inflation proceedings, particularly in the u. S. And thats raising questions on whats going on there. Raising questions and leading questions on what the fed is going to do. Whats your best estimate . We think the fed is going to hike 25 basis points. Weve also seen the labor market tighten. Weve also seen things like productivity, unit labor costs send a negative message. We think the fed is looking in the more immediate term that they will see inflation higher. Chris, does that matter to you that the fed ratchets up Interest Rates or is that something that youve bake in here . Certainly, the june increase, we baked into that already. We just need to get back to a more normal Interest Rate policy over time. It cant be held artificially forever. I view that as a positive. Chris, one of the things were trying to get our hands on is whats happening in washington. Im not sure i can help you too much there. Our working hypothesis is washington is slow, it doesnt help too much. Were basically not building in stimulus. Were not building in big trade policy changes. And obviously, were not sitting here with an enormous amount of conviction that we think is downplay, what washington will do for the macro economy. Chris, you like two stocks, one is apple, the other is comcast. Sure, i think apple is a hidden asset stock. If you can strip off the 250 billion off its books it becomes a tremendous value. Somewhere around 14 or 15. Thats great for such a huge brand name. And i think thats hidden a lot. What about comcast . Comcast, i think the content is great on comcast. But what i think most people overlook is the fact that it delivers 25 of the broadband for the u. S. And that market will continue to grow and just add to its stability and earnings. Even though people are cutting the cord when it comes to cable . Well, they cant cut the cord for internet. Thats the important part. Gentlemen, i want to thank you both for joining us on this monday morning. When we return, Global Reaction to the cyber attack that has been on hundreds of thousands of computers since friday. At 7 00 a. M. , senators purdue and barrasso will join us. And peter orszag. And alex rodriquez. And barry stern like, and thomas donohue. 8 30 a. M. , well be joined by Larry Robbins and marc lassry. Huge lineup of guests this morning. Stick around. Squawk box will be right back. Its been over 100 years since the first stock index was created, as a benchmark for average. Yet a lot of people still build portfolios with strategies that just track the benchmarks. But investing isnt about achieving average. Its about achieving goals. And invesco believes doing that today requires the art and expertise of highconviction investing. Translation . Why invest in average . The shlike a bald penguin. How do i look . [ laughing ] show me the Billboard Music awards. Show me top artist. Show me the top hot 100 artist. They give awards for being hot and 100 years old . Well take 2 [ laughing ] xfinity x1 gives you exclusive access to the best of the Billboard Music awards just by using your voice. The Billboard Music awards. Sunday, may 21st eight seven central only on abc. Welcome back. Businesses across the globe bracing for the cyber attack fallout. Brad smith calls the Ransomware Attack on windows the governments of the world for a wakeup call. Joining us the Security RiskManagement Platform with customers like netflix and pepsi. Before we get into the implications of this who have eye been talking to and what have you learned . Thank you for having me. And good morning. What were seeing with the Ransomware Attack, you can compare it to the equivalent of a missile launcher that Somebody Just left in a local neighborhoods and a bunch of teenagers are picking up this missile launcher and shooting rockets at thousand. So, i would say its quite troubling. What weve been doing over the weekend, the Security Research team has been following the attack. The attack has subsided. But it does not mean that it cannot pick up again. And weve seen millions and millions of organizations that are potentially vulnerable to this tiype of an attack. You just said it could pick up again. Theres a worry of course this morning, a lot of employees and companies all over the world are going to go into their offices and turn on their computers again. That might ramp up these attacks. Is that what youre worried about . At the same time, i know there was an effort to slow down the worth over the weekend. Yeah, absolutely. Were very much concerned about this. What happens when a computer is being affected, the computer reaches tout a command and control center by the hackers. And the command and control center sends instructions to the infected computers. Whether you plant ransomware in a hospital or whenever you just wipe out all of the data, its entirely up to the hacker. And what has happened over the past couple of days is a Security Researcher by accident registered the domain that should have belonged to a command and control computer. So the malware is basically regrouping. Figuring out what to do. But the attacker at this point, the malware through a different domain where it could tick pick again. If you snooze, you lose. If youre a viewer right now and you havent turned on your computer at the office or laptop at home or what have you, or even if you have, what should you be doing . You should be doing a couple things. First of all if you just condition yourself, think before you click. Instead of just clicking on email attachments. Clicking on web pages. Every single viewer is going to be dramatically better awful they think before they click. Dont up attachments that you dont know or dont expect. Number two, apply the latest microsoft patch as soon as possible. Because that microsoft patch is going to basically make the computer safe. Just to put a fine point on this, were talking about this being limited to folks who have Microsoft Windows on their systems . Correct. Does that mean just by inference, because people ask this all the time, does that mean that apple is somehow safer . Does that mean that people just arent writing viruses and or this type of attack software for apple . Because theres less apple out there. No. Thats a common misconcepti