Welcome to Worldwide Exchange on cnbc. Im sara eisen. Was that song slightly sped up . This is a remix. Its all your energy. We better be suped up on what the markets are doing. The futures are pointing to a positive open. We are not seeing quite as many gains in europe but still gains nuns. The d nonetheless. We saw about 80 points higher about half an hour ago. The s p called higher by 6 points. The nasdaq by 16. The dow and s p made it two consecutive weeks of losses, albeit small ones last week. The nasdaq and the tech sector suffering a little bit more. The tenyear note on the jobs note out on friday, they did see some yield increases, albeit the margin on 1. 78 this morning. As far as the global markets, chinese trade data and oil prices, the chinese stocks closed sharply overnight. Among the reason, weaker than expected Chinese Markets shrinking in dollar terms last month. Imports was the worrisome spot declining nearly 11 . As for the rest of asia, japans nikkei rose up 7 . The japanese yen is weaker this morning. In hong kong they managed to gain a quarter of a percent. But a sharp drop in china and a sharp drop in china on friday. First, the biggest backtoback losses since back in february when there were a lot of concerns about the chinese economy. As far as the early action in europe, its a concern. We have one eye on higher oil prices. And that is helping to lift stocks. Some of the Oil Producers in europe. The dax is up 1. 9 . Strong numbers out of germany when coming to trade data. In france we see a 1 gain as well. Interestingly in europe despite oil prices being higher, its the worst performing sector because of the chinese trade data. Italy is suffering because the italian banks are down today. One in particular, bank of populare needing to raise more capital. As far as the currency market is concerned, as i mentioned, what we have been seeing is the weaker japanese yen helping japanese stocks overnight. Well keep an eye on it. And we are seeing a stronger u. S. Dollar against the euro. Were back in the 1. 13 region after a weaker than jobs report out in the u. S. On friday to put pressure on the u. S. Dollar. Thats reversing this morning. A weaker than expected headline number. But the markets didnt seem too spooked. We ended up slightly on the day. We dont have to worry about the rate hike. Right. But the underlying data wasnt so negative it got to the point where we thought, we have a terrifying outlook on the economy either. And wages came in better. That was one of the better parts. Interesting when we see this break either way to the stronger side very clearly or the weaker side for three or four months in a row like this, the only way i can see that the dollar reacts would be stronger on either outcome. Because either you get global fears that growth is not going to be Strong Enough and the dollar becomes a safehaven again or you get the chance of rate hikes and get a stronger dollar again. So this weak dollar we have had has huge momentum behind it particularly against the euro, its hard to understand the longterm fundamental argument for the dollar remaining weaker. Except for the fact theres been a flatout rejection of negative Interest Rates in europe and japan, which has strengthened the currency and has the opposite then desired effect. Thats the other side of the trade. Also, youre fighting the fed. Janet yellin comes out and is cautious and dubbish and speaks on the dollar and that surprised everyone. The Important News is that it was a remix of the taylor swift song. I know my tswift. There we go. We need to move on to a developing story out of canada impacting the oil markets. A Massive Wildfire consumed 400,000 acres and it continues to rage. Cooler temperatures and light rain have officials feeling more optimistic they may be able to get a handle on the devastation in the oil sands region. More than 80,000 people have been evacuated from Fort Mcmurray once known as a canadian oil boontown. The fires destroyed 1600 homes and buildings in the region. Officials say theres no timeline to return residents to the city. Despite the optimism, oil prices are reacting as the wildfire has knocked out over a Million Barrels in daily production capacity. 11 production firms and three pipeline operators have actually curbed activity taking precautionary steps as a result of the fire. Bp and other major oil firms warn they will not be able to deliver on some contracts. So we got some supply concern, thats pushing the price of oil higher this morning. Wti is above 45 a barrel. 45. 58. Brent the International Benchmark up 46, almost 1. 7 or so. Wti down last week for first week in five so the gains today up 2 taken in perspective of that. We are not soaring higher. We also have another major oil story moving the markets having to do with energy. That would be a Cabinet Reshuffle in saudi arabia. On saturday the monoaror can i announcing that the oil ministry is leaving his post after 20 years. Hadley gamble is joining us this morning from ryadh. Was it expected and what does it mean . Reporter well, it was expected over the longterm, but really what we are talking about now is the saudi super team. And that is 24 ministers now charged with revitalizing this countrys economy. Of course, this does now include the new oil minister named Khalid Alfalih. He was the chairman and ceo of aramco as well. Ali alnaimi was taking an emotional farewell from colleagues at aramco and is moving into a position where hell be advising the royal court. And the new pin stminister of o taking on a new name and direction focusing on solar power and electricity. And they are going to be focusing on mining as well. So a new direction for the oil ministry, but that doesnt necessarily mean that theres going to be any change in oil policy, at least in the near term. This is really about streamlining and consolidating power behind the oil court. There was an interesting report out in the telegraph newspaper about the threeway listing of aramco, new york and hong kong of the largest ipo in history. And another interesting report was whether or not selective stakes will be allowed for exxon, bp and others. So interesting details to be worked out. We are still waiting for further comment from the ministries. Guys . Hadley, thank you very much for that. As we have said, oil prices have been moving higher this morning. Hadley gamble from ryadh. Joining us to discuss oil further is from london, richard manisted. Good morning to you, richard. Well put the canada wildfire news in perspective, we are up 2 . Is that a relatively muted perspective in your eyes . I think it is. Its much more to do with the wildfires in canada than the news out of saudi arabia. Really we have seen quite a lot of production out although the firefighters are talking more positively yesterday. So we may have gone past the peak several weeks before production can come back fully. This comes after losses in venezuela and so on, but we have not seen prices suddenly ratchet higher. And i think that reflects a bit of weakness in terms of the latest economic data, a little bit of weakness in physical markets because a lot of refineries are still offline around the world. So we could expect quite a bit of volatility i think around the canadian news on othero outages in the longer term, does the saudi move have implications for the saudi after the doha nonfreeze, nondeal orchestrated by saudi arabia . Yes, i mean, i definitely dont think we should expect a radical departure. Khalid alfalih is talking about it being left to the market to rebalance on its own. So the production freezes are definitely out. But thats the same as it was under ali alnaimi. There are a couple things that matter more, theres the backdrop of saudi arabias vision 2030. This big strategy being championed by prince mohommad bin salman. We need to see more specific policies. But in the nearer term, we might start to see less oil burning during summer in the domestic power sector. Thats traditionally driven a big increase in saudi crude production to feed the domestic power of demand. And i think with new gas production, with solar, with the alternatives they are trying to put more focus on, we could be in for a slightly smaller seasonal round which may catch the market a bit by surprise. Richard, very quickly, on wti we found a sort of base for oil prices for the rest of 2016 . Not for the rest of the year. I think rangebound in the 40 to 50 bracket for a month or two. But getting into the second half of the year, the rebalancing, the tightness in markets becomes increasingly visible and we go up higher and go past 60 before the end of the year. Very quickly, it sounds like the saudi move doesnt do anything to impact your price or your outlook bullish or bearish for oil . Not really. The only thing Khalid Alfalih does is talk to the media more. That could be marginally bearish if theres no opec action on the horizon, but much bigger is the rebalancing, the loss of nonopec supply and the increasing demand due to disruptions. That will make the difference to prices. Richard mallinson, thank you very much. Beyond oil we are watching other commodities. Gold prices right now, well show you this on the back of the stronger u. S. Dollar in terms of the overnight session. Gold has had a pretty strong overall year. There we go, its up a percent in the early action. Theres copper down 1. 4 . Copper prices hitting the lowest levels in almost a month. This morning they had a 5 decline last week. Its somewhat quiet on the economic front this week following the jobs report on friday. No data today but tomorrow look for march wholesale traid. Then on thursday we get weekly jobless claims in april import price. On friday retail sales and consumer sentiment. And the big highlights are disney tomorrow, the host of retail names this week including macys, kohls and jcpenney. They are coming off the somewhat growth slowdown for the u. S. Economy. And sort of surprising 160,000 jobs added, wondering if the momentum is slowing across the board in the u. S. Economy including hiring big firms as a big source in the recovery. I think Retail Stocks are the focus as you say. But in general guidance, for all sectors has been crucial because we havent had encouraging enough guidance in the face of the dollar coming back and oil prices recovering a little bit. Because we are big on certainty. Now we have certainty with the u. S. Election and brexit and everything else. We have stock movers to watch today. Valiant tops the list. The stock does not look cheap according to barrons. The firm needs to wind down its use of adjusted earnings. And barrons saying that the ceo is a successful conglomerate. That could be the reason behind the 1. 6 pop in the free market. And donald trump is making comments on his tax proposal. Have a listen. The thing im going to do is make sure the middle class gets good tax breaks. Because they have been absolutely shunned. The other thing im going to fight very hard for business. For the wealthy, i think frankly its going to go up. And you know what, it really should go up. And then when he was pressed on whether this is a change from his original plan, trump said its all in negotiation. Of course well have much more on the days top political headlines and the effort that the Republican Party is making this week to try to unify themselves in the wake of paul ryan saying hes not ready to back him. Thats right. As well as the political realm, well look at the top global headlines and why the u. K. President David Cameron feels a brexit could lead to war in europe. That and much more coming up. We were born 100 years ago into a new american century. Born with a hunger to fly and a passion to build something better. And what an amazing time its been, decade after decade of innovation, inspiration and wonder. So, we say thank you america for a century of trust, for the privilege of flying higher and higher, together. A very good morning to you. Welcome back to Worldwide Exchange. Futures are higher by 3 to 4 . The dow is expected to open about 55 points above fair value. The nasdaq which has had a tough couple of weeks up by. 40 . British Prime MinisterDavid Cameron speaking earlier this morning warning that a brexit would increase the chance of europe going to war. He suggested that the eu had in his words, quote, help reconcile countries and maintain peace. Just six weeks until the june 23rd referendum. That element of security has always interested me because we talk about it in terms of the market and how it hurt the british economy. This is something president obama was talking about when he went over there. Rightly or wrongly interjecting into the debate about how as a peaceful force, if the eu stays together, it will be better for National Security or interNational Security. The David Cameron side of the bargain is focusing on the economic arguments. It is interesting to see cameron bring that up today because in general security tends to be a point but the exit camp has a little bit of leeway in terms of what it means for britain alone. I think for europe as a whole, the argument is clear, if britain remains in, but this is a vote for the british people. So far cameron and the camp have stayed clear of this because they dont want to say its an argument to stay for the rest of europe. They want to focus on the u. K. Century trib argumeric arg. But we expect the campaign to pick up pace now because the local elections were finished last week. And cameron has done his speech and Boris Johnson will do his in a half hours time. Six weeks ago i mentioned the pace of the campaign will pick up very much. Elsewhere in europe, Greeces Parliament is voting to pass new austerity measures to increase taxes. This vote came amid strikes and demonstrations on sunday. Some protesters through molatav cocktails at police who responded with tear gas. The eurozone finance ministers are meeting in brussels to discuss greeces fiscal strategy. Coming up, your money, your vote. Can donald trump convince Top Republicans to actually support him . That story topping todays political news next. But first as we head to break, heres todays National Forecast from the weather channels jen carfagno. Sara and wilfred, on this monday the sun is finally coming out in parts of the northeast. Its been such a stretch. Take d. C. , for example, its been since the 17th of april that we have been in the clouds. And we have more rain there in the forecast today. But the sun will peek out in new york city, temperatures are going to be in the mid70s. The real top story today will be severe weather. Chances again right here across the heartland from texas right up to missouri. Storms of hail with damaging winds and the threat for tornadoes as well. And rain up here into parts of the upper midwest as well. The west stays dry and well look for temperatures warming up this week. But for today, were running close to average or even a little below. Hot across parts of the south, temperatures back into the 80s again. Thats your coasttocoast forecast. Im meteorologist jen carfagno from the weather channel. Worldwide exchange continues after this. [ toilet flushes ] so when you need a plumber, we can help you get the job done right, guaranteed. Get started today at angies list. Real is touching a ray. Amazing is moving like one. Real is making new friends. Amazing is getting this close. Real is an animal rescue. Amazing is over twentyseven thousand of them. There is only one place where real and amazing live. Seaworld. Real. Amazing you wouldnt take medicine without checking the side effects. Hey honey. Huh. The good news is my hypertension is gone. So why would you invest without checking brokercheck . Check your broker with brokercheck. Welcome back to Worldwide Exchange. To politics, well see if donald trump can convince the Top Republican on capitol hill to support him. He sits down oneonone with House Speaker paul ryan on thursday. Nbcs tracie potts is joining us live from washington with all on what to expect on the political front. Reporter hi, wilfred. Good morning, everyone. Ju donald trump as we expected seems to move more to the middle as we move to the general election. Now hes talking about rich people, wealthy americans paying more taxes. Thats something the democrats have pushed for years and republicans like trump have pushed against. For the wealthy, i think frankly its going to go up. And you know what, it really should go up. Reporter hes talking about taxes. Donald trump reversing his own plan saying negotiations will result in the rich paying more. Bernie sanders isnt buying it. Donald trump wants to give away hundreds of billions of dollars in tax breaks to the wealthiest few. Reporter Hillary Clinton says trumps inconsistency should trouble voters. Maybe he just doesnt understand that running our government is not the same as making real estate deals. Reporter trump meets with paul ryan on thursday. The republican House Speaker says hes just not there yet on supporting the partys presumptive nominee. He doesnt want to have reporters put microphones in his candidates faces every day to explain the latest utterance by donald trump. Reporter but key republicans argue since their voters like trump, Party Leaders should get on board. You have to listen to people that have chosen the nominee of our Republican Party. I dont think it would be foolish to ignore them. Reporter republicans still say maybe. Some like former rival jeb bush say absolutely not. Bush wont vote for trump and wont vote for clinton. Which i dont get as hes making a statement, but not voting is not a good message to erk man america. Reporter exactly. Some say it is distasteful to vote for trump but may not vote at all. That could have a huge effect on the republican campaign. Tracie potts, as ever, thank you. To sports news, orlando, florida, was the site of pageantry, pomp and circumstance of the second