And im wilfred frost. Good morning from me as well. Lets bring you up to speed on the market. Action a very strong rally yesterday. The nasdaq up over 2 . Two others up 1 as well. The dow called higher by 76 points. S p by 10, nasdaq by 24. Just high of half of a percent for most of these indices. Of course, yesterdays rallies very strong, but not on the high of the of volumes. Nonetheless, quite surprising to see it particularly on the day when the dollar was strong as well. Of course, stronger data pushing back on expectations that june and july are very much in play for the fed. Lets have a look at oil prices. They are part of the rally as well. We saw oil up about a percent. Were up another percent and a quarter today. 49. 2 for wti, close to the 50 mark. Lets get a check at Global Markets following overnight from asia. The nikkei shrugging off sort of disappointing news from individual stock owners. 1. 6 . The weaker yen on the dollar has been helping japan to rebound. Toyota had a nice overnight as well. Hong kong a star overnight finishing up 3 . Shanghai closed lower by 0. 23 . And china fixed its occurri rir currency in a year. Resilience in Global Equities overnight especially in china. Notable, that china yuan. And the german dax up one 1 gains. Europe with 50 a barrel. And the u. S. Recession, the strength of the banks and technologies are reasserting themselves. The lead will be one to watch. And germany was up over 2 yesterday so really extraordinarily strong rally there. I think a big factor is because the u. S. Dollar hash strong including against universithe e. And thats who eased pressures on germany and of course wider Companies Across europe. And as you say, i think over the course of five months, though, markets have got more happy that the chinese authorities are in control of things that theyre actually heightening things across the currency. So this is not the most important. On top of that, of course, the recent move has been more about Dollar Strength as opposed to a lot of financing or escaping in china. Right. The outflows and scary Macro Economic picture. Lets go to broader markets because we did see a decent move. Closer to 1. 9 on the tenyear. Yesterday, were shy of that now, 1. 88. The dollar, we cant underplay it enough yesterday, strong stock rally in the face of a strong dollar. In the face of more talk of a rate hike. Of course, previously, weve been having to rely on more easing talk for markets to rally. The euro, 1. 1142, has some reprieve. Gold prices recently, weaknesses by half a percent. Dollar is strong, flip side, gold gets hit. Jim bullard said a june hike isnt set in stone. But in an interview with cnbc, bullard did argue that market data suggests its time to pull the trigger. Listen. Obviously, we try to be datadependent, i dont think theres any reason to prejudge the june meeting at this point. We can wait until we get to the meeting, see what the data say and try to make a good decision there. I think on the issue of press conferences we have made many moves over the years, without press conferences. So, i think we could make a move without a press conference in this circumstance. Keep in mind, no press conference at the july meeting. Yes, in june, opening up the suggestion as other regional fed president s this week have for two to three rate hikes this year. As for the risk of brexit and the chance that the uk vote could give the fed pause in its june meeting. Bullard says he doesnt consider it it quite the Global Market event. But he does note that his view could be, quote, an outlier. Its something that the fed is mixed about whether its going to keep us going to june. The bottom line while investors and the fed are increasingly getting on the same page about an Interest Rate hike. The Federal Reserve itself is getting on the same page. Weve heard a lot of the comments echoing themselves. Were not seeing sort of the discord that we saw earlier in the year internally from the Federal Reserve. But none of this matters until janet yellen speaks on friday. Shes speaking at harvard. Shes the most important. Shes the core of the fed. Dudley, the key ally of the new york fed echoed some of these other comments that theyre looking like june could be a strong possibility as the economy improves. Absolutely, shes the one to focus on for friday. Down the line capitals jeff goodluck says stocks feel like a short squeeze. As for the fed, he still puts the odds of a june hike at 50 50. A goodo offset to the rally yesterday. Apart from yesterday we havent been rangebound. Yesterday was the outlier for me. Its sort what hes been saying on equities. It is. Hes been right in saying that the strength of bonds will be persistent and treasuries. It will be interesting to see if he changes it. Hpe announcing plans to spin off most of its technology operations. The business will merge with Computer Sciences. This is an 8. 5 billion deal. Shares of both companies up sharply reacting nicely to that news. The transaction comes less than a year after the break job of hewlettpackard into hpe and hp inc. Theyll now own shares of both hpe and both companies. Meg whitman on the Conference Call had this to say about it last night. For the remaining hewlettpackard enterprise, this transaction contains significant value by unlocking a faster growing, higher margin and stronger cash flow business. Hpe will now have 33 billion in annual revenue and will focus on Software Generation and infrastructure that generates a world class storage and infrastructure as well as our helium Cloud Platform and software assets. Moump from meg whitman joining squawk on the street later this morning. The only thing i would say focus when it comes to technology. Hhp goes from one to three in under two years. Investors love it. Nice bounce in share prices. The data pool is challenged today. And it may focus on a trio of fed speakers making the rounds. And weve got harker and kashkari and kaplan speaking at various times throughout the day. Tiffany reports emption before the bell. Hp, Williams Sonoma and lions gate after the close. Mitsubishi motors restating its Financial Results for the past year to reflect a special loss of nearly 175 million. Thats related to its fuel manipulation scandal. Monsanto rejecting a bayer 62 billion takeover saying the bid was too low. But the firm is open to conversations. Dicomindustry is looking for better than expected outlook. Up 11 . In other corporate news, mcdonalds is one to watch holding its annual Shareholder Meeting it comes as the fast food giant is experiencing a turnaround in business. Landon dowdy joins us with three things to watch in mcdonalds. Mcdonalds top executives will go into shareholders at the headquarters in illinois. Shares up 25 in the past year. Stores have turned around and theyre up 6. 2 globally. And 5. 4 in the u. S. In the first quarter. The launch of allday breakfast has been a big driver for that sales increase. David palmer of rbc capital saying it will be the gift that keeps giving through 2017. But he wants to hear more about allb allday breakfast. And raising the wage to 10, labor groups say the change hasnt been enough. The fight for 15 is planning a massive protest. Back to you. Landon, thank you for that. Its so unamerican of you. I know. I used to be once a month type. You cant go regularly. Wait until the garlic fries come. Hm, questionable. Youll have to try that with me. The best story of the morning, the report surfacing that paypal cofounder peter thiel funded the 140 million lawsuit that hulk hogan won against gawker. Its not immediately clear in the Silicon Valley venture capitalist, how he came to be involved with hogan. Obviously, the story getting a lot of buzz. According to reports, teele had a bone to pick with gawker. Hes an inver, invested earlier in facebook. Hulk hogan won. Unclear what they invested. Its not uncommon. They just negotiate a percentage of the wins, if they believe it, why fought. Its a legal im sure its legal to invest in what happened. Morally, is that the right thing . Anyway, we wont go into the details of that. Back to the market, our facebook and twitter question we saw a big rally yesterday. We also saw with it strong dollar and rate hike talk. Is this cocktail sustainable . Way in here. Its interesting to see strong stocks all in one way. It didnt stop the ral little yesterday. Coming up the breakthrough deal for greece overnight. Details on another late night of talks in brussels next. Plus, citis global held of g 10 Foreign Exchange joins us. How will the dollar go from here and what will it mean for equity, next. But first, best wishes to time warner executive jeff bewkes who turns 62 today. Very happy birthday. Were back in a couple minutes. Breaking news this morning, eurozone leaders are hailing what theyre calling a breakthrough deal with greece again. Talks lasting into the early hours today, told euro Group Ministers agreeing to release 10. 3 billion euros in new funds for greece in return for fiscal reform. The eurozone offering up its debt release in 2018 if necessary to meet its criteria on payments. Putting all of this together the imf is willing to once again join the eurozone in funding the bailout of greece. The greek banking index jumping more than 3 harg that deal. The yield dropping to a sixmonth low, below 7 . Slightly above there this morning but clearly this is being taken as good news. The imf caved a bit. They wanted immediate consideration of debt relief. They did not get that. Its go to be put off a few years. But if you think about it the eurozone ministers are in top shape. Theyre heading into a referendum in the uk whether to stay in the eu. They have to so solidarity going into that. Otherwise, we would have had two dramas this summer going into the brink of a brexit. They werent go together let that happen. Interestingly right as you say the imf caved a little bit almost some could argue to make sure the collective kind of voice of people that want the uk referendum vote to remain, its lets just not cause an extra fuss over it. We dont want to put more fuel on the fire. A deal once again, late night. Familiar. Not sold on greeces issues, of course. And other news, were watching the situation in france. The french oil Industry Federation said the country has been forced to tap its oil reserves this comes as a labor deputy forces france refineries to halt. And protests at thousands of petro stations run dry. At the market, its been the eye of the storm lately. The strong dollar reasserting itself. Not so much this morning. The euro is say bit strong on the back of that greek resolution. Temporary resolution. It is strong against the japanese yen. Above 1. 10. The pound is flat. But its rallying as the polls have increasingly shown that britain may remain in the e up. Joining inin ining us to talk, gains and strengthened all day yesterday, steven, the difference is Global Equities seem to be okay with it, is that true . And will it continue . Well, i think its okay for now, i think what really sparked the equity rally was the strong housing numbers that we had had yesterday. They really took off after they came out. And the message i think that theyre sending is that the markets are more afraid of having a really weak subpar u. S. Recovery or growth, than they are of having the fed move two times this year. Steve, thats a lost progress, isnt it . In the beginning of the year, the reason markets were so weak is because we thought we were going to have lots of hikes. Not because necessarily we thought the economy was too soft . Well the economy started softening at the beginning of the year. I think our standards have changed, right . At the beginning of the years, lots of hikes or four hikes in the year, now if we get too strong, for the market, moreover in the out years, 2017 and 2018, were really not placing in more than one hike at this stage. We think that the markets are kind of reassured at the growth and hoping theyll get top line support for equity valuations. The only thing thats different between now and january is that the market seems to be okay with the weakening of the chinese currency. Overnight, a report that china sat at its lowest fixing in years over the u. S. Dollar. And the comp barely closed lower. If you take a look, weve done studies on this if you take a look at the reaction of cny and cnh, the much more modest than what we saw in august of last year and december and january of this year. I think china is sending a signal that theyre not the ones to destabilize the Financial Markets this time of year. Very quickly, how much stronger does the dollar get this year . I think they still have a couple percent more. Probably more against the yen than against the euro. Id say we could see another 5 against the euro maybe. Maybe a bit more against the yen. Steven, thanks so much for joining us this morning. Steven englander of citi. Still to come, todays top political stories including antitrump protests turning invite lea violent. Today, the weather channels paul good lowe. Good morning, thanks, wilfred. If youve been wanting the warm weather it is here. 90, the first 90 of the year in new york city. Kind of chilly last week, today, boom, 90. Youll hit 90 before atlanta does so far this season. 88, one of the warmest in atlanta today. Otherwise, a lot of red here in the middle of the country for thunderstorms and tornadoes again from the twin cities and even chicago, youll see late day thunderstorms. Some of those could be on the strong side. Otherwise, youll have snow coming down in areas of montana and wyoming. Yellowstone seeing snow showers again today its like winter does not want to quit. Otherwise, scattered thunderstorms popping up across the west even mountain snow across the southern sierra. We need that. Cooler as well. L. A. Only 67 degrees. Hey, were back with more Worldwide Exchange after this. To political news, Hillary Clinton is opening up a new line of taxi on donald trump accusing of him looking at dollar signs. Trump is firing his own personal shots. Tracie potts from washington with the latest. With all of that happening we also saw protests again outside of a trump rally last night. A trump spokesman calling them thugs and punks. A lot of these people were carrying mexican flags saying they were offended that donald trump would bring his antiimmigration message to new mexico. Protesters outside of Donald Trumps albuquerque valley throwing rocks at police in the dark. Several officers were treated. They responded with smoke canisters. Reporter inside, trump responded to Hillary Clintons claim that he was rooting for the housing crisis that destroyed millions of americans. Thats what im supposed to do. Im in business. Why on earth would elect somebody president that actually voted for the collapse of the Mortgage Market . Reporter later theyre making that same point. Some people are just allergic to the facts. Reporter as Bernie Sanders told california, clinton cant be tough on wall street either. You cant take their money and take them on. Reporter all three candidates are in california today. Sanders the underdog is pushing to win there june 7th. California, its a long way to washington. Reporter overnight, donald trump picked up more delegates in Washington States republican primary. Now, theyll be counting up the final votes from Washington State this morning to award the rest of the delegates but the way it stands right now, donald trump is about 40 delegates away from securing this nomination. Tracie, thank you for that update from washington. Still to come here on Worldwide Exchange, this mornings top stories. A live report from youre on that breakthrough greek deal we had overnight. And the story everyone is talking about today, why paypal cofounder peter thiel is backing hulk hogan. Midway dak to normandy medina ridge the chosin reservoir these are places history will never forget but more important are the faces we will always remember. Good morning. Ready for a rally, green arrows around the world right now. New this morning, microsoft is cutting nearly 2,000 jobs in its smartphone unit. And check this out, Paul Mccartney is inviting fans in this studio. You wont even have to leave the comfort of your own home. Its wednesday, may 25th, 2016. Youre watching Worldwide Exchange on cnbc. Good morning, welcome back to Worldwide Exchange here on cnbc. Im sara eisen. And im wilfred frost, go big or go home. Thats certainly what markets were doing yesterday. 2 rally for the nasdaq. Best day for the s p since march 11th. It looks like the Party Continues this morning. U. S. Equity futures pointsing to a higher start. Dow futures up 76 points or so. S p futures up a little more than 10 points. Nasdaq up 26. Tech again in the spot light. It was a big leader in yesterdays session along with financials. Europe early action is continuing. Were really seeing a global stock market rally this morning. Its on the back of Stronger Oil Prices and of course strength on the back of u. S. Equity markets led by Home Builders and tech. German dax up by more than 1. 3 . 1 across the continent. The euro has been weakening in recent sessions. Could be a lift for german exporters and european exporters. And also a breakthrough deal in greece. Well get to that. Quickly show you the action in asia overnight it was also marked by gains especially in japan and especially in hong kong which grows higher by 2. 7 . Toyota was a notable winner in japans nikkei session after announcing that partnership with uber. Shanghai closed lower. Which was resilience given the fact that the chinese currency is now at the weakest level against the dollar in three months after the