Worldwide exchange on cnbc. Im sara eisen. And im wilfred frost. A very good morning to you. Lets have a look at u. S. Futures this hour. Theyre called to open higher but only fractionally to the tune of about 13, 14 points for the dow. The s p called higher by a couple points. The nasdaq by around about 7 1 2. Show you the tenyear treasury note at this hour ahead of janet yellen. Shell be speaking during the noon hour eastern time at the Economic Club of new york. Not moving but importantly sitting below 1. 90 on a batch of Economic Data yesterday somewhat disappointing. More on markets in just a moment. But first, a developing story out of cyprus. A hijacked egyptair flight landing at an airport in cyprus early this morning, according to authorities. An egyptian hijacker claiming to have an explosive belt holding 11 of the passengers hostage over what authorities are calling a, quote, personal matter. Flight ms181 was on its way from alexandria to cairo, according to the airplane. The flight had 82 passengers, including eight americans. We will keep an eye on this story and of course bring you any developing details as we get them. Indeed. So that flight has landed, and the hostage taker has released the vast majority of people on the plane so far. Well bring you any developing facts on that story. This mornings top corporate story. The highprofile legal battle between apple and the government is officially over after the fbi managed to unlock the iphone used by the San Bernardino terrorist without the tech giants help. According to the justice department, it has obtained the data from the device and is asking the court to vacate its order for apples assistance in the matter. Apple releasing a statement in response saying, this case should never have been brought. The firm also saying it would continue to increase the security of our products as the threat and attacks on our data become more frequent and sophisticated. This as the fbi may not reveal how it forced that device to open. Lets have a look at shares right now in apple and how its performing. Later in the show, we will be hearing more on this story. Eamon javers will be joining us. Really hasnt impacted the share price much, but it has spread into the public debate. And theres still questions. This doesnt feel like the end of the story. Yes, the fbi managed to go about it itself, but i have a feeling this encryption debate has only been kicked down the road, can kicked down the road, as they say. You could also say this debate has been brought to the fore and it has to be debated. We cant ignore it because its something thats going to have to be debated. That question of whether this is a win for apple, a win for the government. Well, apple doesnt have to open its encrypted phone for now. Its a minor win, but the question is, how did the fbi do it . Whos the third party that helped the fbi open the phone . How did they do it . Is it possible for other people to do . Does that make the apple iphone less secure . Certainly that debate is out there. Is the phone breakable by anyone, albeit with months worth of expertise and focus on doing it, but also even though apple has not been forced to do it themselves, had they lost that sort of moral debate because clearly in the grand scheme of things, they didnt want to the, the fbi to crack this phone. Were going to talk a lot about that today. First, we want to to get to the fair amount of fed speak topping todays agenda. Janet yellen will be the hallmark delivering remarks on the economy and Monetary Policy at the Economic Club of new york just after noon eastern time. That will then be followed by q a with the moderators. That will be important. San francisco fed president John Williams is speaking in singapore at this hour. Well bring you any headlines as they hit. Dallas fed president Robert Kaplan will be in front of the mike this afternoon. Then we have Economic Data. The monthly s p caseshiller home price index out at 9 00 eastern time. That will be followed by march Consumer Confidence at 10 00 a. M. Home builder lennar reporting results before the bell. Well also hear from david busters after the close. Lets check in on Global Markets this morning. First up, another look at futures, which are ahead, as we said earlier, but only slightly. Were up by 15 points on the dow. So were taking some strength from the european session, which at the moment is green pretty much across the screen. Only norway earlier was weighed down in part because the oil price is low. As you can see post that long easter weekend in europe a bit of a sugar rush for european markets. France up 1 . Germany up 0. 8 . Asia, however, saw predominantly red across the screens. The hang seng index up fractionally, but both shanghai and the nikkei down. Shanghai down by 1. 25 . Lets show you the Broader Market picture this hour. Wilfred mentioned oil prices, down almost 1. 5 for wti. This ahead of two days of inventory data. First we get that word from the api after the bell. Then tomorrows official government report. Brent also under pressure, below 40 a barrel, down 1. 7 . Nat gas continues to fall as well. We showed you the tenyear treasury note kweeyield sitting below 1. 90 this hour. Lets show you currencies. The dollar actually weakening yesterday but back to strengthening this morning. The euro below 1. 12. Stronger dollar against the yen as well. Marching toward that key 114 level. The british pound is getting a little bit of a boost. As far as gold, which is heading for its best quarter since 2007, it has been weakening over the last few sessions. Well show you the action this morning. Continued weakness by about two buck. Nothing much to speak of. Still, as i mentioned, overall a pretty banner quarter for the price of gold. Indeed. This week continues to be lots of data coming out, but the focus very much more on janet yellen. Yesterday when we looked at that pce deflated data, a little bit soft but only at the margin, i would argue. The main reason being, it wasnt soft enough to derail the idea that domestic situation in the u. S. Is strong and the fed would hike if that was the only thing on the cards. International is weak, and its that weighing them down. This fractionally soft pce deflated number yesterday i dont think changes the domestic side of that. What i think it does is proves janet yellen correct, who a week and a half ago in her statement in her News Conference as part of the fed meeting said that she was a little bit weary prices. It could be due to temporary factors. And she really needed to see a sustainable, meaningful pickup in inflation. What it shows is that were not getting that. The fed is not meeting its 2 objective. And her cautious outlook is completely justified. I think what she needs to do today in this speech on this podium before the Economic Club of new york is get her fed in order. She speaks for the Federal Reserve. Theyre entitled to their opinions, all the regional fed president s, which we heard from last week, but make it clear shes in charge. Her view is the core view of the Federal Reserve. And thats, i think, whats going to be key to watch. I agree. I think thats why the foe ku again comes down to that debate between the international and the domestic situation as opposed to the my knew that of the little parts of inflation data. The other question is she going to jolt the markets. Yesterday was the lowest volume day of trading. So whats it going to take . Maybe fed speak. We asked yesterday on twitter. The response overwhelmingly was earnings. So watch for preannouncements here, guidance, lowered expectations on earnings. Maybe that could mean well get something. Lets move on to this mornings corporate news. A former partner at the unit of the Boutique Investment Bank pjt partners has been arrested on charges he stole 25 million from investors and tried to take 70 million more. He posted bail of 5 million on criminal wire and security fraud charges. He was an employee at park hill group, which is owned by pjt and is a spinoff of blackstone. Pjt has fired him for cause and has initiated an internal investigation. Shares tumbling on the news quite significantly. Basically flat in premarket. Some other stocks to watch for you today. Berkshire hathaway closing in on an s. E. C. Filing. It raise the its stake in wells fargo to 10 . Berkshire owns more than 500 million shares, worth nearly 25 billion. In the filings, Warren Buffett saying the company has no intention to change how wells fargo operates. The wall street journal reporting the s. E. C. Is looking into sun edisons disclosures to determine whether the Solar Company exaggerated its liquidity last year. At the time, sun edison said it had more than a billion dollars in cash, but the journal says most of that was cash that the company couldnt actually access and the balance had dropped to less than 100 million by last november. Origin technologies has pulled its takeover offer for affymetrix. The maker of the gene sequencing products said the bid wasnt superior. A little share reaction there. Down less than 1 . More stocks to watch. Virgin america has reportedly received takeover bids from j jetblue and alaska air. Analysts say it could make sense for jetblue, which is looking to expand on the u. S. West coast. Synnex revenues miss forecasts. The company issuing down beat guidance for the second quarter. Foot locker is being added to the s p 500. The retailer will replace Cameron International after the close of trade on friday. C well, paying at the checkout got a little more complicated when smart chip cards were introduced to u. S. Consumers last year. You may have noticed on your new credit card. The deadline for merchants to make the transition to new card readers was october 1st, 2015, but a new survey is out showing retailers and consumers still arent exactly happy about the change. Our landon dowdy joins us with more on this story. Landon . Hey there, sara. Good morning. Most Financial Institutions have been responsive, but retailers havent been as quick to make the transition. A survey finds that 42 of retailers still havent updated the terminals in any of their stores. Chains such as pizza hut, tj maxx and Niemann Marcus havent provided their upgrade status. Some have experienced data breaches in the past few years. But the bigger issue, under the new rules, merchants that havent implemented the new payment terminals become liable for fraudulent purchases made in their stores. About 43 of retailers that have experienced data breaches in the past five years have not updated their point of sales terminals. With roughly 8 billion in fraudulent purchases in the u. S. Each year. How do consumers feel . About 56 say they dont care for it. A big reason is because number one, they dont know if they have chip enabled credit cards and dont understand it. If theyre anything like me, they just get so frustrated with how long it takes whenever you stick the card in. I think its good. Europe is way out in front of us. Weve always had well, feels like weve always had the chip. And you dont have to sign. Dont have to sign, which is much easier to forge than knowing a p. I. N. Code. You guys have got to get on board. Might be frustrating in the transition, but youve got to et go on board. Landon, thank you. Still to come, tmobile admit what is so many of us already know. No one is actually using their phone as a phone anymore. So true. That is so true. Occasionally for quick calls home. But thats about it. Stay tuned. Youre watching Worldwide Exchange. That and much, much more coming up. Hey dad. 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Lets get more on the action in markets across the world. First in europe, trading following the long Easter Holiday. Nancy hulgrave joins us with whats going on in europe this morning. Nancy . Hi, wilfred. Well, european markets are off to a solid start for the first day of trade after the Easter Holiday. Overall, the stoxx europe 600 up about 0. 6 . Remember, going into the long weekend, we had a drop of more than 1 across the major boerses here. These gains should be kept in perspective. Also, they continue to be muted due to the dropoff in commodity prices. No surprise that oil and gas and basic resources are the only sectors in negative territory. Especially look at the ftse 100. U. K. Minors on the back foot there. Losses of more than 3 across the key miners. As you can see here, all off in the neighborhood of 3 . Investors continue to keep an eye to the commodity space. Also the declines in oil prices as well. For the rest of the day, the big focus will be gearing up for Janet Yellens commentary. Guys, back to you. The world awaits janet yellen. Thank you, nancy. Hong kong also returning today from the Easter Holiday on monday. Akiko fujita joins us with a roundup of the asian session. Good morning. Good morning to you, sara. Well, weaker than expected data out of the u. S. Certainly weighing on markets across asia today. A lot of investors here also sort of staying on the sidelines, waiting to hear from janet yeln to get a better sense of when the fed will hike rates next. Locking over to australia, asx 200 down about 1. 5 there. Heavy selling driven by increasing fears of mounting bad debts. Over in japan, the nikkei 225 staying above that 17,000 handle but ending in negative territory, down about 0. 2 . New data out of japan today. Investors certainly not impressed. Household spending rose for the first time in six months, but government officials coming out and saying that was only because of that extra day in the leap year. The jobless rate rose slightly about 3. 3 . Retail sales fell below expectations. That data putting more pressure on Prime Minister shinzo abe to delay the sales tax hike thats scheduled for next year. Although, Prime Minister abe came out and said he has no plans to delay that hike unless there is another shock on the level of the Lehman Brothers collapse back in 2008. One more interesting note out of japanese markets today. One of the biggest movers on the day, sun corp. That share up nearly 5 on speculation that its israeli subsidiary was behind the fbis phone hack of course, in that legal battle between apple and the department of justice. Wilfred and sara, back to you. Akiko, quick question. The shanghai composite has had a stunning rebound from its january lows. We were all worried about china when we began the year. Is there a sense that the authorities have managed to take control of the markets and the economy . Whats actually fueling the rebound, and is it sustainable . Well certainly yesterday we saw a big rebound, although were seeing it end in negative territory today because of the new numbers out over the weekend. Industrial profits up as well. Then also these measures that the government is taking to basically cool down the Housing Market as well. There is a sense that the government may finally have a handle on the economy and perhaps that the monetary easing and fiscal policy that was set in place earlier is finally starting to have an effect there. Akiko, thank you very much for that. What does it all mean for u. S. Futures . Lets have a quick look at the board. We are called to open higher, although not quite with the same confidence as europeyoureurope. Called to open by ten points higher for the dow. The s p basically flat. The nasdaq call kd higher by about five points. The only other point to make with markets, yesterday again unbelievably low volumes. The lowest volume day of the year. As suggested by the direction of markets and the volumes, people unsure, not having much we do have home prices, Consumer Confidence. We have yellen and other fed speak. Maybe its just waiting for that. Indeed. Lets get back to corporate news. Yahoo has set a deadline for april 11th to submit preliminary bids for its Internet Business and asian assets. The wall street journal reports that means yahoo could close a deal by june or july. The Company Launched an auction of its core businesses in february after shelving plans to spin off its stake in alibaba. Last week, starboard value, which owns less than 2 of yahoo launched a proxy fight to overthrow the board. Tmobile is acknowledging that many of us dont actually use the phone part of our phones anymore. Reports saying that the wireless carrier will launch dataonly plans later this week called simple choice data only. They include unlimited texting but no actual voice service. The plans range from 20 a month for two gigabytes of data to 95 a month for 22 gigabytes, which is true, i rarely use my phone, though i like that capability of having it in case you need it. Presumably that plan would still allow you to make a phone call through whatsapp or skype. That is just like way, way too cool for me. Youve never used skype . I dont use skype. Youve never used any of these programs . I also live in the country where im from. Youd st