Very good morning and warm welcome to you on Worldwide Exchange kicking off now on cnbc. Im wilfred frost with kayla sitting in for sara. Good morning. I like that youre playing the weekend music. Gets you in the mood. Even though it is 5 00 a. M. It is basically the weekend. Lets see what the markets are doing now. U. S. Equities open lower, gained traction throughout the day. Finished about a quarter of 1 higher. This morning, pretty much bang on flat in the premarket, s p slightly in red, treading water ahead of the jobs number which comes later today. All eyes on that and the implications for what it means for possible fed rate hikes. Lets look at the tenyear note, what is the bond market doing this morning. Were bang on 108. We just have come down on the yield. Seen a little bond buying during the course of the week, close to 1. 9 earlier in the week, now at 1. 8 . Everything rests on todays big market story, the u. S. Employment report, forecasters say the economy likely added 158,000 jobs last month, but worth noting that a government report last week predicted the verizon strike could cut more than 35,000 jobs from that payroll number. The Unemployment Rate seen Holding Steady at 5 , average Hourly Earnings expected to rise by. 2 . The next fed meeting for june 14th and 15th. A small chance of a rate hike at that gathering, but the cme groups fed watch program tells us the markets are now pricing in a roughly 59 probability of a move at the july fomc meeting. Speaking of the central bank, the fed says chair janet yellen will attend this years jackson hole conference in late august. The annual gathering is hosted by the kansas city fed. You might remember yellen skipped the event last summer. It was much talked about. It was indeed. Chicago fed president Charles Evans says there could be two rate hikes this year if u. S. Economic data continues to be favorable. But in an interview with cnbc in london, he says the timing of those moves isnt that critical. Two rate hikes in 2016, thats my own call for that, if the data continues to be in line with my outlook. Thats a slow and gradual increase this year. Slow and gradual. But asked whether the uks brexit vote would have any bearing on a fed hike this month, evans says hes not sure it plays an Important Role in policymaking beyond monitoring overall Global Financial conditions. It is a couple of days afterwards, of course, from the next meeting or a week afterwards. So still begs the question, would they go can they wait one month extra. Six weeks in between meetings when youre at 25 basis points, how much does it really matter. Exactly. Lets check on Global Markets this morning. Were seeing positive action in europe, despite italy being close to the flat line, just turned a shade positive right there. We have that many decimal places for people to know. I think we should say flat at that point. The attention has turned from the ecb yesterday and opec to what will happen in just a few hours time, in that jobs report. Lets look at asia as well. China faring very well, despite being down last week. China set for its best week in three months. And japan is up by about half a percent as well. Hong kong is up as well. Indeed, japan up, despite a stronger yen. But slightly misleading in the fact that fast retailing, the consumer company, which was at 8 wait in the nikkei is up 7 after its brand uniglo posted good results. Thats hiding the truth of the nikkei move, but either way, a good finish for the week in arab why and as asia. Oil prices slipped a little. 49. 21 for wti. Lets look at the dollar as well. It is treading water today. Wonderful. Just keep an eye on the yen pairing in particular because the yen is at a two week high against the u. S. Dollar. If the jobs number is strong, it applies a rate hike, we could see that reverse quite pronounced. Were looking at gold slightly higher, but soft over the last month. Fifth straight weekly drop for gold, even despite a slight positive trade today. But thats because we have seen the u. S. Dollar in may up about 3 and thats the weight on gold prices. Gold, when it was going very well, couldnt get above the 1300 level for any sort of pronounced level of times. Seems like it is very much treading water, even when the factors are going for it and the dollar is going against it. Well watch that against the jobs data. New numbers show investors pulled another 4. 7 billion from stock funds in the latest week. Lipper, which reports the data, says this marks the 12th straight week of cash withdrawals. But u. S. Based stocks etfs brought in 3. 9 billion, the largest inflow since april. And lower risk money market funds, they attracted 7. 7 billion in capital, that was the sixth straight week for money market funds to bring in new cash. Mays with a rough month for pimcos total return fund. Investors pulled another 1 billion from the fund after cash withdrawals of the same amount the previous month. It has now posted 37 straight months of outflows. In corporate news, facebooks board is looking to curb Mark Zuckerbergs majority voting control should he exit management in the future. In a proxy filing with the s. E. C. , facebook said it will ask Share Holders to vote on a proposal that would convert the founders Class B Shares into class a shares if hes no longer in a leadership position. The social Networks Board says it wants to make sure a future ceos management powers are limited. The stock in the premarket is unchanged, but given he has so much control over the company, any leadership decision would fall to him. Exactly. It is like, yeah, you can have a choice when ive decided i no longer want to have a choice. It doesnt help them if it ousts him when he wants to be leader. In other tech news, the New York Post reports twitter met with yahoo management several weeks ago to discuss a possible merger. The paper says Ceo Jack Dorsey didnt attend and his company appeared more interested in getting information out of yahoo than it was in doing a deal. Second round bids are due early next week. Verizon is still believed to be the frontrunner. With twitter with a market cap of 10 billion, that would be a pretty sizable deal, bet the ranch type of deal for that company. Well see how that happens when the bids come in next week. Apple says all its Services Including its app store have now resumed following an outage yesterday. A Company Spokeswoman declined to comment on the nature of the outage, but for many apple users, very glad thats back online. Lets move on, in media news, doctor says sumner red stone has the mental capacity to make decisions about his trust. They are suing so reverse the removal from the trust. United and delta are among the possible bidders for avianca. Advisers circulated a document seeking a 500 million capital injection. But the process could develop into a full sale. They serve more than 100 destinations in 26 countries, went public in 2011, and has a market cap of just about 600 million. That Capital Infusion considering its market cap would be sizable. Quite a big move, no doubt about it. Citigroup ceo is signaling the Bank Second Quarter net income will be 25 lower than a year agos results. Speaking on thursday, they expect profit to be flat with the First Quarter. Citi reported profit of 3. 5 billion, about 25 less than the 4. 65 billion it posted on adjusted basis in the First Quarter of last year. Citi will report Second Quarter numbers on july 15th. I cant believe were approaching the start of the next quarter slightly even though were still finishing First Quarter earnings. Yeah. It will come very quickly. Other stocks to watch today, gap saying same store sales fell 6 in may, declines happened across all three of its brands. Gap, old navy and banana republic. But the retailer says performance improved leading up to the memorial day holiday weekend. That could have a positive impact on junes results despite that news and extended trading, gap shares up 5 . Broadcom reporting a Second Quarter loss, the chipmakers adjusted results beat forecasts. This is the first since avango technologies completed the 37 billion takeover and rebranding at broadcom. The Company Offering a rosy outlook. Bp agreed to pay 175 million to settle a Class Action Lawsuit filed by shareholders. They accuse the company of understating the severity of the oil spill in the gulf of mexico in 2010. Bp says the claims will be paid over the next two years, but the settlement doesnt revolve other securities related litigation. Stock appears to be unchanged in the market. Thats yesterdays close. More stocks to watch, ambarel ambarella will continue to suffer from supply chain problems. But they did beat analyst forecasts jumping 9 . Five below, same store sales rising nearly 8 , topping analysts forecasts. The team retailer sees Second Quarter results in line with estimates. The Cooper Companies is raising its four year outlook after beating forecasts with the Second Quarter results benef benefiting from strong sales of contact lenses. Up 3 in the premarket. Coming up on Worldwide Exchange, David Cameron fields brexit questions from a fiery live tv audience including being accused of scare mongering. The tense exchanges everyone is talking about coming up next. First, twitter question this morning, very ably worded by kayla, what will be the most telling part of todays jobs report . The number of jobs added, Unemployment Rates, wages. The key question. Get in touch. Well bring you the results and much more discussion on Worldwide Exchange. What are you doing . Getting faster. 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Thats why you can schedule an installation at a time that works for you. Even late at night, or on the weekend, if thats what you need. Because you have enough to worry about. I did not see that coming. Dont deal with disruptions. Get Better Internet installed on your schedule. Comcast business. Built for business. Welcome back to Worldwide Exchange. If youre just waking up, lets get you up to speed on the Market Action. U. S. Futures pretty much flat. Yesterday, they opened down and steadied throughout the day to close up a quarter of a percent. Right now were treading water ahead of the crucial jobs report coming up. Oil prices are down about a third of a percent for the week as a whole. Were just above flat today. No Real Movement off the back of the opec meeting yesterday. 49. 2 for wti. It is a big day for Economic Data as we wrap up the trading week. It is all topped by the may jobs report. That hits at 8 30 a. M. Eastern time. Payrolls are forecast to rise by 158,000. Unemployment expected to hold at 5 for the Third Straight month. Also at 8 30, the april trade deficit and the may ism services index, april factory orders, that comes in at 10 00. Lael brainerd is speaking, thats taking place this afternoon. The weekend not starting quite yet. Not quite. Might be for some of us. David cameron faced a live grilling on sky news last night on the eu referendum. He maintained his core message that a vote to leave the eu would be damaging for the uk. If you want to get out of the Single Market, which is what the campaign wants to do, you will fundamentally damage our economy. That cannot be the right way of controlling immigration. It will make our economy smaller. It will cost jobs. We would be poorer as a country. He went on to say that renegotiating trade deals could take ten years. However, the Prime Minister was accused of scare mongering, hypocrisy and waffling as he faced members of the public in the audience during a closing 30 minute q a and was accused of some dodging by some of dodging the key questions. He also admitted that at times the eu did annoy him. If youre saying to me are there regulations in europe that annoy you, yes. Are there things about europe that frustrate you . Yes. Are there Prime Minister who sits around the table with 27 heads of government and states and sometimes the organization drives me crazy. Do i think britain would be better off if we left . Are we quitters . Do we think we quit the European Union, we quit the Single Market and that somehow we will be better off . Absolutely not. We would be outside the room, the European Union doesnt stop existing just because we left, the channel doesnt get any wider if we decide to leave. A group of people will be sitting around a table making decisions about our biggest market, about the future of our continent, about things that affect us, and we would have our nose sort of pressed to the window trying to find out what decision they were making. Under the same format with questions from the audience as well, the focus turns to the justice secretary michael gove, a lead member. Getting a lot of headlines this morning because people kind of thought he dodged the crucial questions and the audience seemed certainly angry too strong a word, but annoyed and put a lot of pressure on him and he kind of looked under pressure. The stakes are very high for this vote. I think many observers thought that by now given that it has been talked about for so long, the referendum date has been in place for so long, there would be some firming of a sense of which way it would go. The polls keep swapping places and people honestly dont know which way it is going to go. I think thats the key thing. The reason hes under pressure if this happens ten days ago, he would feel much less so. The polls having had two or three months of momentum behind the camp, his side of the bargain, the last ten days, four polls come out, which have shown the momentum going the other way. The ft poll of polls saying the current thing is 46, 43 lead. Very close now. And the pressure is certainly on. And, of course, thats including a margin of error too. Exactly. And turnout is going to be crucial swing factor. Close. Coming up, this mornings big political stories including paul ryan hell now support donald trump. Here is todays National Forecast from the weather channels kelly cas. Good morning. Looks like the rain is now moving into the big cities of the northeast. New york city, philly, pretty good chance of seeing rain, maybe even hearing rumbles of thunder out there. Overnight, into our weekend, unfortunately, looks pretty unsettled. We see scattered showers throughout the south as well. Were watching bonnie off the coast of north carolina. You can see the storms in miami as well. And poor texas. Like we need any more rain here. We already have major surpluses, ground saturated, flash flood watches do continue and were still watching a lot of rivers, creeks and streams running high, way out of their banks as a matter of fact. Dry weather across the west, really the big story here will be the heat. It is on. Were talking excessive heat warnings in effect for places like phoenix, arizona, getting well up to the triple digits. Even seattle and portland, temperatures near 80 degrees today. But over the weekend, well be well up into the 90s in places like medford, oregon, possibly touching 100 degrees for the first time this season. Otherwise, not too bad around the midwest, 82 for chicago. Thats a look at your national weather. Very predictable experience. I order b14. I get b14. No surprises. 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