Percent. European a equities, big story was the big rise in the euro last week. And green across the board and there the euro i know you watch it closely. I had in my plans and forecast for 2017 that the dollar was going to get stronger forever and hurt exports and Everything Else and i need to recalibrate. Dollar down by 5. 6 lead story in the journal. And taking a check on crude oil that must mean that crude is at about 100, right . No, wait you would think it is soenl easonally strong su period also. I left at about 2. 15 and its back exactly a staggering move in the ten year last week so something happened every central bank said get ready. So you have 15 basis points on on the ten year. I dont believe the bermuda central banker said that is that the 13th branch of the fed . Right my biggest concern is i cant believe the ocean can be so clear and so aqua and the beaches so incredible. Yeah so im trying to deal this morning. Some of these things are important i think, but not everything that im reading is that important after a week of really seeing what is important, family and surf and Everything Else here are some of the big stories these better be big okay this is. Because this is important for tesla. Model 3 sedan, good looking car, and you need a car that doesnt cost 150 grand with government help. It has passed all regulatory requirements for production. Should begin rolling off the line on friday and in a tweet, elon musk says 100 vehicles should be delivered next month and then delivery will increase to 20,000 per month in december. That will be amazing is that going to happen, santoli . That is only six months away. Its not one of those well in three years, well be at half a million. But production rises exponentially. So i think that they will are on track yeah, if everything goesle smoo smoothly dropbox i get things telling me to go there yeah, big files sure you know about the cloud a little bit. I bought more cloud stuff for my iphone to back things up that is my experience. Same sort of some people dont feel comfortable with technology, i feel very comfortable. Im back up. Did you go to the cloud store . Back up in a lot of ways in faskt. You fact youll see, santoli. Youre 46. Reuters says grop box oig offering could come rater this year, this could be the Biggest Company to go public since snap. It was valued at about 10 billion after a private fundraising round in 2014. And four former barclays executives are in court in london facing charges to 2008 Emergency Fund raising in qatar. Barclays is also a defendant first time criminal charges have been brought against a bank and its leadership in connection to any action taken dwururing the financial crisis well have a live report from the courthouse in a bit. And hong kong and china launching a highly anticipated bond Trading Program the setup gives Foreign Investors access to chinas 9 trillion bond market through trading houses sounds like a big deal President Trump speaking by phone today with the leaders of china and japan. China state media is reporting that zink zink pixi jinping hasd to negative factors that have come up. U. S. Sanctions against the chinese bank over its dealing with new york and the presence of a u. S. Destroyer near a disputed islands and shinzo abe pledged more cooperation over north korea and lot of buzz about President Trumps twitter feed eamon javers joining us from washington arent you and everyone down there jonesing forrussia isnt this a diversion i asked Kellyanne Conway last week about list tweeting habits and she said the media would be talking about russia anyway, so we would rather have them talk about the joe and mika there you go. To him, they are taking a negative story of russia out of headlines and replacing it with a negative story about the president mebeating up on the media which is more popular with his base so might be a method to the madness. I got back, i looked at the wall street journal, i dont see any tweet stuff here when worldwide wrestling. I even looked at the New York Times and i see something about about michael kohn, but i dont see anything about the tweets. Is it important . It is important, yeah the tweets are . Yeah, i think so. I mean this is what the president wants to talk about at least a good percentage of the time doesnt take long for 140 characters he probably has time for other things after a tweet you probably do i read people saying that hes spindi spe hes spindiending the entire wek tweeting but people are spending their entire week hyperventilating about the tweets he probably moved on right after he tweeted yeah, i dont know what he did. Here is the tweet joe is talking about for everybody who isnt following it this is the tweet about cnn that the president put out on sunday. Its a video of himself wrestling with a figure whose face has been replaced by the logo of cnn. It looks like an old World Wrestling federation video that somebody has edited and put cnn on the face there and the president is beating that person up some people critics of the president said it looked like an incitement to violence against journalists and particularly cnn journalists. Other people said no, this is the equivalent of a president ial prank call cnn put out a statement though i think we have a section of that statement, it said it is a sad day when the president of the United States encourages violence against reporters clearly Sarah Huckabee sanders lied when she said the president had never done so. That is something that Sarah Huckabee sanders did say last week instead of preparing for his overseas trip, his first meeting with Vladimir Putin, dealing with north korea and working on this Health Care Bill, he is instead involved in juvenile behavior far below the dignity of his office. We will keep doing our jobs. He should start doing his. For their part, Administration Officials defended the president said there is simply nothing wrong with this including thomas bo bossert homeland security. Maybe we dont have it he essentially said nobody would view this as a threat. He said that he doesnt view it as a threat and people shouldnt read it that way though we live in inflamed times and a lot of people read that as an attack on journalists and a call for physical attack on journalists. But his defenders said no, this is simply a thing where the president is voicing his criticism and concern about the xwleed so well continue to debate it people will defend Julius Caesar dressed as trump and defend johnny depp and republicans get mad and say how you can you be doing that and then the democrats will say how can he be both sides are if both sides want to ramp either do ratchet town the hydown the hyp say how can you do this, this is horrible, and then the other side and say what we did was not i think if youre a conservative, how would you have reacted if barack obama had tweeted out a video like that about fox news if your reaction to donald trump doing it is the same as your reaction to barack obama having done consistent any of the things that a play in the park with barack obama being knifed wouldnt go over, neither would holding a severed head of barack obama or the severed head thing was egregious. Not funny. Johnny depp saying an actor hasnt assassinated a president in a quhil maybe its time. Ill gee old he is relates tore rick is the type of rhetoric that is tinged with violence and what you worry about is that it tips over to actual violence. There are ring wiwingnuts on boh sides. Acosta said i thought wwe was fake and that just played in to yeah, that was fake with the original thing with Vince Mcmahon was fake i saw it without it replaced on his head and it was juvenile. Did you watch it at the time . Are you a big wwe fan, joe yeah, i was until someone told me i think you told me it wasnt real and so that really disappointed me but no, i saw the original and with vince are mcmahon and it was ridiculous the first time around so sticking a cnn head on it brian stelter, god bless him media critic at cnn i made an being a withqua ma once and he was so clueless about irony or sarcasm i had made hundred entourage references in a past, so i made a reference about aqua man and he wasnt swift enough to realize that it was sarcasm. So i feel bad for him. Hes really affected by this and i hope gets over it because thats why i say the president s defenders talk about this as sort of the equivalent of a president ial prank call no harm done hes just with kind of pants them and that is it and moving on but the question is why is the president doing this, right . Why is he he spent his weekend, if you look at his twitter feed, there are tweets about policy and the white house tells reporters again and again that they dont think reporters are focusing on policy enough. But then the president is putting out these public statements which are focused on cable news anchors, the divisions between them, why with was this one fired, why was this one hired. The president maybe secretly wants to be a Media Executive in his next career, right he is really, really focused on Cable Television and how it perceives him. Anyone who voted for him probably at least is not that affected by all this and some even like it and the people that are just you like running around with their heads cut off, they probably didnt vote for him in the first place. I will say one thing, i have a frustration with the media and its coverage of republicans for i remember it all the way back to when i was just getting out of college and Ronald Reagan became president and i remember it through reagan and all the way through george w. Bush and i remember a long standing conservative complaint. Even back further than that, back toed a tod ed a ded a toedy stevenson. And they wouldnt release dad lay stevensons transcripts of his grades just so they could continue to hold imup as an intellectual al gore was an intellectual but w. Was about an and i had yot, john care akaerry was intakelle. So to finally get some comeuppance is satisfying to some people, to his base yaurk i think it is but the challenge when youre the president is you need to reach the middle you need to broaden your base. He has, what, 32 for to 36 of country solidly in his camp. Of those probably 20 will cheer just about anything he does. But if you want to pass legislation in the middle, if you want to get moderate republican female senators from maine for example, you need to broond that base, you need to reach i dont understand your core supporters in order to generation legislative momentum. And these tweets dont do that these tweets rally the base and alienate a lot of other people hes not going to let Mainstream Media call the shots and dictate the narrative. They have had it that way w or reagan would just sort of smile and let it happen. I was with w at one point and i was talking with about the New York Times and i was trying to a and he goes i dont read it, joe, i dont care, i dont brred it he is also not dictating the narrative by doing this. He is perpetuating a media fight narrative. But youre not talking about russia hes not talking about health care hes not talking about tax reform which is one of his big agenda items his Health Care Bill is dying in the senate he needs voters to push it over the top. This is a president who very much needs an enemy, needs a political foil and why he was so successful on the campaign trail is because his base loved the idea of him fighting against hillary clinton, he was fighting against barack obama, he had enemies to punch in the face rhetorically now he doesnt the total victorythat republicans had in the last election means that he is sort of king of the hill and there is no enemy in sight. The president very much wants an enemy and hes decided to make the media that enemy and the media is sort of a punching bag for him and he needs that fighting energy to fire him up every day. All right thanks, well do the markets eventually coming up i know i say eventually coming up, the minions ruling once again, huge office at the box office as despicable me 3 takes the top crown. Well talk about the big business of hollywood next at crowne plaza we know Business Travel isnt just business. Theres this. a bit of this. Why not . Your hotel should make it easy to do all the things you do. Which is what we do. Crowne plaza. Were all business, mostly. And its also a story mail aabout people and while we make more ecommerce deliveries to homes than anyone else in the country, we never forget. That your business is our business the United States postal service. Priority you thats why at comcast were continuing to make4 7. Our services more reliable than ever. Like technology that can update itself. An advanced fibernetwork infrustructure. New, more Reliable Equipment for your home. And a new culture built around customer service. It all adds up to our most Reliable Network ever. One that keeps you connected to what matters most. Welcome back to squawk box. Nyse will close at 1 00 eastern. Joininging us now is Td Ameritrade chief Market Strategist and a chief economist at pantheon. How are you feeling about the second half of the year given the steep rise in rates we saw in the past week we saw the ten year bund yield go up 20 basis points and in the United States a rise in the ten year treasure beery yield of about 15 basis points in just five days. It was a crazy week. Y yield 5 basis points in just five days it was a crazy week i think the biggest hurdle is relationships seem out of whack. What i mean is you are seeing bonds and equities moving more in lock step than were used to ever in the past we had long period would bonds went up, equities went up, and then they would both selloff 2. 3 , were still in a relatively low range we didnt have really any up side reaction in yields when the fed raised rates here a couple weeks ago. So i think a lot of the second half will depend as we head into he weres lasting next week and what the ceos layout as the picture going forward. We had a great earnings season in the First Quarter and with that, we also had ceos talking about a lot of growth. Talking about growth in asia, growth in europe as well as in the u. S. We just havent had that picture painted in a long time so as much political swirl et cetera as there is around the market, at the end of the day, it will come down to is the earnings picture good and can we continue to sustain these throughout the rest of the year. And yi an, on top of the hawkish or reiterated haushish instances of basically four of the five largest Central Banks around the world last week, we have a jobs report coming up, people will be looking very closely at how quick, how adamant, how continuous a tightening here in the United States would be. What is your view on what you are looking for this week on the economic front i think the federal report will be strong and that is important because weve had three numbers that arent so great. I reccthink 200 plus numb. We have three payroll reports in nine weeks when the market expects the fed to do nothing. E. We have three payroll reports in nine weeks when the market expects the fed to do nothing. R. We have three payroll reports in nine weeks when the market expects the fed to do nothing. I think we will see a sequence of good numbers which will then give the fed impetus to move in september. And if that happens and some of the fear that weve seen transmitting through the bond markets will intensify and my concern then for the stock market is even if the earnings mnumbers are good, we will still face a valuation risk but is it actually the labor market that will be the swing factor here for september . You hear a lot of focus now on inflation targets not being met either in the u. S. Or in europe, yet you have the hawkish rhetoric is three good job reports enough i think provided we dont get three inflationary reports like the last three, it probably will be enough. Yellen has been clear that she views them as transitory so provided that doesnt continue and i dont think it will, then just steady Inflation Numbers and maybe unemployment heading down to 4. 2, 4. 1 way lower than the fed thinks is sustainable, i think that will be enough to move them and the markets will think what about december and march next year, as well and that is where the fear comes in for me. So as we enter the second half, are you concerned that perhaps Equity Investors havent factored in the dwrupside risk o bond yields . Steady move higher this bonds and here we are this morning at 2. 3 well, i think one of the things that you also saw though was people start to rotate a little out of technology and tech has had a little bit of a stumble the last couple weeks. My real fear is more for the nasdaq itself than the s p 500 and if Technology Fails in the s p 500, you have more financial stocks to take its place nasdaq, there really isnt any secretary door sector to turn to that is showing strength consistently. So i would be a bit more nervous in terms of the indices versus one another. To be honest, i think a little bit of a selloff even down 5 , whatever, would be very healthy for this market. But as we continue to see time after time, every selloff its paid to come in and be a buyer reminds of me of fsootball. If a play work, you continue to run it so it has been successful in order to do so, so im not quite as nervous in the shorter term for it and i said i think a little bits of of a selloff woue healthy over all all right, jj, ian, thank you. And now to media the minions did it again december icspicable me 3 takingr one spot at the box office the latest in the franchise opened to 75. 4 million. Editorial direct aor at