If you check out crude oil, which is probably the biggest market story weve been watching for a week or so crude Oil Yesterday was up slightly to 42. 74. This morning up to 42. 84 youre still talking about wti below 43 a barrel. Americas 34 largest banks did well in the stress test. The results show even during a large recession large banks would be well capitalized and could support homes and businesses when times are tough. The second part of the stress test will be released next wednesday. There are talks about whether things might have loosened up a bit with the fed. Doug parker says he is not happy with Qatar Airlines plan to buy a 10 stake in the company. Parker telling phil lebeau he found out about it yesterday parker telling cnbcs phil lebeau he found yesterdays offer confusing, adding why an airline were aggressively fighting would want to take a stake makes no sense he wonders if the motivations were misguided and ill conceived. They have been fighting over policy in washington on whether Qatar Airlines can be here and whether theyre dumping their product. Hes been very outspoken. Phil talked to us about this yesterday, but how he thinks they have an unfair advantage. He was asked if this was a situation to try to silence him. If youre in a tooth and nail fight with your competitor and you might lose, might as well buy their stock. Is this arent you hedging your bets that if they succeed, if your efforts fail, at least youll ride i would go long you. You would go long me . You want to buy a piece of him . I would buy a piece of you thank you if my efforts fail to undercut you and hurt i would like to be part of your success. Which is all over the place. Would you sell him a piece . I feel maybe this is ill conceived and misguided. And you have no choice. I can own up to 10 of you, you have no choice im still a private company you dont want to release a lot of stuff about you thats probably a good idea. We have different share classes. Im like Travis Kalanick this story we always come together on. On rainy saturdays what do we do together . Go to Bed Bath Beyond. Hold hands. Not the entire time shares of Bed Bath Beyond we look at duvets together. We do. I thought the humidifier and the mist shares of Bed Bath Beyond down sharply after posting weaker than expected results. The retailers samestore sales tumbling 2 . The company citing softness in physical stores. The one bright spot softness at physical stores, thats where its supposed to be fun to hang out on a saturday. The bright spot is digital sa sales, but that was offset by higher shipping costs and coupon expenses down 23 its not the the business its in, which is a great business its the digital thing again it is the digital you start to look at amazonproof businesses when it gets to retail, theres fewer and fewer. I used to think mattresses, beds i just bought a bed from amazon. You bought it from amazon you didnt buy it from casper . I thought about it, but now amazon is selling you a guy who will set it up for you you can buy the servicing thing on it. Casp casper, thats not an option thats all you use, harrys shaving kit, you use anything no. Tommy john underwear . Any guest that we have you use i only like to have guests on where i tried the product. Did you get a deal on the mattress we dont have a casper mattress do you a pillow top we do just a thin pillow top some of them you really sink down the difference with amazon on this is theyre servicing things did you live through the waterbed era i did im aware of it. Who thought that was a good idea cold, hard and you could get in, and its all who thought that was something that we never had one. But i had a friend whose parts had one. My aunt and uncle had one we loved it its not that its not that one never popped either that happened, too can you imagine . We have a serious well switch gears the likelihood that isis leader Abu Bakar Al Bagdadi has been killed is close to 100 . Who said that . A russian senator. The senators name is victor ozarof, head of the Defense Committee in the upper house of parliament it was like may. So were still trying to figure out whether this actually did happen we heard maybe hes dead hard to confirm these things if you believe this guy, he says close to 100 . And this is official President Trump is officially nominating new york jets owner Woody Johnson to be ambassador to the uk. Nice gig johnson is a longtime republican donor has owned the Football Team since 2000 also chairman and ceo of private Asset Management firm, the johnson group. Johnson Johnson Family the president also nominating former l. A. Dodgers owner Jamie Mccourt to be ambassador to belgium. You got to give parties a stipend like 20 per bottle of wine to serve at the parties. Thats why you need wealthy donors you floedneed a lot of money. A number of ambassadors are asked to refurbish a lot of the whats the word the u. S. Ambassador the homes the embassy homes. You can argue both sides of this you would like normal people to be ambassadors instead of people who can grease the campaign and get rewarded this way. But it is nice to have the private sector where the government doesnt have to pay for it i could argue from either side i would say congrats to woody and susan, his wife. Shes a big jets booster a key position. It was joe kennedy who had that position right i dont know what it means for his attendance at the jets games. Probably will go down significantly. Lets talk about the Senate Republicans working to build support for the healthcare proposal they face opposition by democrats and by several high profile members of their own party. At last count there were at least four republicans saying they were not quite ready with this version of it Kayla Tausche has more on there. She joins us now good morning reporter good morning. The sell is going to be a tall ordertor Senate Leadership after a lackluster reception yesterday on capitol hill when the bill was released no senators offering outright support when it came out despite key changes to the house legislation. For fainstance offering tax credits based on income instead of age and ending medicaid expansion. Those were efforts to win over moderate republicans the president says he not only supports it but it looking forward to making it special remember, obamacare is dead. The plan also got an endorsement from the chamber of commerce most other medical Industry Groups coming out against it six physician groups in addition to that asco, the American Hospital association as well as aarp which again called the legislation an age tax that would strip 17 million seniors and children from medicaid theres a group of four conservative senators who said they oppose it and want to change the current bill mostly because it doesnt cut costs or lower premiums enough. Senator Lindsey Graham said every senator wants something. There are 52 of us. All of us have leverage. The question for us, will we deliver or not i dont know what they want changed in the bill. This is an opening offer, not the final deal so time will tell. But they only have six days time last night at the congressional picnic senator graham told nbc news that the chance of getting to 50 votes is just 50 50. Thats a better likelihood than some would be considering for every deal they cut they will tick off another constituency you have people, not just the conservatives who stepped out and lindsay gravm sey graham whn he wants things, but also someone like senator heller, whose state has been leaning more and more democratic, what will he do in the situation . Hes assumed to be a no currently. I heard aides to leadership saying hes someone they want to allow to vote no because its becoming a more popular position in his state and they dont want toize th izlose that seat and then theres senator rand paul who opposes anything but an entire repeal of obamacare some hope that he comes around, and at that point thats public posturing he put out there and will support the bill once it comes to the floor, but they dont know others like ted cruz want premiums lowered senator collins of maine would see her popularity spike if she voted against this in that state. She wants to make sure tens of millions of americans dont lose coverage so the cbo score we get next week will hold clues to this the more changes you make as youre getting that cbo score, the more scores you will need on the back of that when he says 50 50, that seems like an optimistic view when you consider it the back drop is if you dont pass something you will have political pressure the journal has a long lead editorial. I know these are, you know, this is the ebenezer skroocrooges ofe Editorial Board who dont want to take coverage away from everyone, they point out a final no, if it happens, a final no from the senate is really a vote to live with obamacare if it fails, next step is single payer. All these guys know that the journal piece kind of daring republicans, after going on four elections and repealing obamacare, if they dont do this rand paul says this is obamacare, just a revised verg moderates saying its way too draconian. These guys on both sides have to accept not a perfect bill, but something that allows them to keep the promise of not making obama care the status koe. At least starts to rein in the entitlement spending on healthcare which will be out of control. Thats why one option still talked about is even if you feel like you dont have the public support coalescing around this bill, dont count out the Majority Leader Mitch Mcconnell who still might bring this to the floor, he might see this as a dare to republicans before they go back home to their district i think its better than 50 50 these guys every one of them has they love their day in the sun if you could get some slight thing in your favor, then you what do they have to give then it makes it harder on the other side it does thats the hard part. Thats what you have. If youre going to placate those four, then you really its going to be a struggle. Remember those things people used to have on their desk, the pendulum sweeping, every time you appease one side, you knock the other side off very 80s those little pendulum things. Wall street little metal balls would hit each other yeah. All right. Back to the Broader Market joining sus is steven parker. Head of thematic solutions if you want to have a theme involved, where you can explain it to people, like cocktail par parties, i own some tesla, do you have a theme no, why . Can i go somewhere and actually have a theme for my investments . They come to you thats right. Jeff saud, i dont know why youre here. Do you have any themes just money making ideas, right no, i have themes im a thematic investor. You are as well maybe its thematic friday i havent talked to you in a while mr. Chief Investment Officer at Raymond James are you bullish . Yes, i have been. I continue to be bullish i would add one thing to your conversation about mitch mcconnell, hes very good at playing defense, not good at playing offense. So what conclusion do we draw from that statement . I think that the bill has not the votes to get through so what happens you said it earlier, if they dont pass it bill t looks like obamacare implodes, you get a single payer you are still bullish yes im still bullish. Healthcare stocks were up yesterday because they think the bill will pass i lived in d. C. , im well connected on capitol hill. As of last night i dont think they have the votes to pass it yet i think the markets have transitioned to an earnings driven market. Earnings will come in better than people think. Who did you mention that wants her own state to get her bolster her numbers Susan Collins in maine. Thats the problem with the system here. We a even the republicans dent want to lose a single seat when you have a 52seat majority heller is up this year if he loses it they guys will lose all their seats if they dont govern all right, why should i listen to you on this because i lived inside the d. C. Beltway for years, i ran Capital Markets there. Thats your problem but jeff, real quick correct what you just said about the politics of the moment does that factor in at all to thinking about the market and your algorithm . You always talk about the algorithm. The models. The models are bullish all the models the longterm model turned bullish in october of 08 and has not flipped negative since then. In your model is there input that relates to whats happening in d. C. . No. Absolutely no. Just wanted to be clear a lot of counter forces swirling, oil weak, tenyear not in a hurry to get to 3 . What is the market doing what is it telling us . I think jeff mentioned it, were focused on an earnings driven market. Everyone is focused on markets at alltime highs, thats because earn pg ings are strong just here in the u. S. But globally while we may not be seeing the economy ripping, what were seeing for the First Time Since the crisis is a synchronized global recovery. Not just the u. S. Leading us higher, European Data was strong this morning Consumer Confidence in europe, the highest level in 16 years. Thats translating into Earnings Growth and that is pushing markets higher we track the baskets of companies that are most exposed to things like deregulation or tax reform in the months after the election those stocks outperform the Broader Market by 10 , 20 theyve given back all that outperformance over the last couple of months the Market Expectations around policy has come down significantly. I dont think we need that for markets to continue to grind higher it would be a bonus i think its more of an upside potential than necessity. If the risk is not if something doesnt happen, it doesnt necessarily mean theres an air pocket under the market you may see a bit of a selloff, i dont think it will be something substantial if i was andrew, if i had all these other billions, all this stuff, would you be buying f. A. N. G. Just buy them . Because they go up every day they had a brief little pullback talk to him. Tell me, what am i supposed to do, knowing that joe thinks i have a time horizon of a hundred years. Because im invincible at this point. He thinks hes immortal he does. The Technology Story really is dependent on your investment horizon. These have become popular trades give us a hundred years these companies, a lot of these Tech Companies have incredible growth prospects. Valuations are not crazy like they were in 2000. Theres a continued story where growth will not reach the levels we saw historically. People are looking for companies that can deliver growth regardless of the economy. Thats a longterm tory. Guys, thanks. Andrew your rival who is my rival david faber, m a type rival good friend he was interviewing jack ma yes in detroit the singularity s is upon us. Is possible but hes worried they may not care much about us the machines he also thinks well have a fourday work week fourday work week. Singularity is a possibility sigh bo cyborgs. We have to suck up to the machines when we return, new data on the economy and the trade. We have a new read on the biggest risks to businesses. Details after the break. Most etfs only track a benchmark. Flexshares etfs are built around the Way Investors think. With objectives like building capital for the future, managing Portfolio Risk and liquidity and generating income. Thats real etf innovation. Flexshares. Built by investors, for investors. Before investing consider the Funds Investment objectives, risks, charges and expenses. Go to flexshares. Com for a prospectus containing this information. Read it carefully. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. Welcome back to squawk box. The latest results of the cfo survey are officially in Jackie Deangelis has the details. Good morning good morning. Almost officially putting the first half of the year to bed, so it was a great time to conduct the cnbc global cfo Council Quarterly survey to see where cfos stand on various positions and how their viewpoints changed we asked them what keeps them up at night what the biggest external risk factors are. Consumer demand followed by cyberattacks and then u. S. Trade policy speaking of trade policy theres some concern that trumps rhetoric towards germany would lead to a trade war with that country or possibly the entire eu just under 60 of respondents said theyre some what concerned about both with respect to the global economy, the eurozone, which they said for the last three quarters was stable is now improving while the u. S. Continued at improving status for the Fourth Quarter in a row. We also asked about the stock market, would the dow see 22,000 before it falls back below 20,000 60 said we will go up before we come down. An optimistic but cautious tone at the same time okay. What do we think about that cautiously optimistic what do you do with that . What do you do with that its like the most 20 years, thats the most common two words from a sell side, not a cfo, but how do you go wrong with that . Im constructive on the economy. What does that mean . Thats even more out on a limb than cautiously optimistic. Cautiously optimistic means any time something could happen, but maybe not. Then it goes higher. Thats interesting because on the trump questions we asked them their tone changed a bit. Many of them were sayi