Exchange on cnbc. Im wilfred frost alongside susan lee in for sara again. A very good morning, susan. Good to see you, wilfred. Lets get you up to speed. Dow closing. 25 . And the oil prices were stronger yesterday. The Energy Sector was the best performing sector. Oil prices up slightly again today. Thats led to gains around the world. And gains in the u. S. Futures markets, culled high by 66 points on the dow. About a third of 1 on all three of those indices. Its interesting to point out the biggest reaction to all of the fed speaker over the month has been bonds. If you look at the bond markets down to 1. 73 . Of course, we were near 1. 9 a few weeks ago. Well get you more to the markets in just a bit. But first, breaking split cal news. Montana, south dakota, north dakota, and the most up for grabs, 475 at stake for former secretary of state Hillary Clinton and senator Bernie Sanders. But ahead of todays contest, word comes that hillary has gone over the top of the magic number of delegates needed to clinch the democratic nomination. This coming from a combination of pledge and superdelegate votes. I got to tell you, according to the news, we are on the brink of a historic, historic, unprecedented moment. But we still have work to do, dont we . But rival Bernie Sanders has been a critic of the superdelegate system, saying those delegates can switch their votes anytime before the convention in july. Well have much, much more on the big political stories of the day later on in this hour. Switching gears, a deadly bomb attack in istanbul today. Turkish Officials Say the attack targeted a vehicle carrying riot police. It kurd near a busy intersection near an instan bull university building. Back to markets, lets check the overnight action in asia and europe. And its green across the screens for both regions. The main reason they didnt get that late Oil Price Rally playing into mondays trade. Theyre benefitting from that today. Japan up. 06 . Hong kong soaring 1. 4 . Shanghai above the flat line. Europe showing United Markets in terms of colors, germany up 1. 5 . France up 1. 25. The ftse 100 which was strong yesterday, relatively underperforming up. 75 . Why iron ore prices up 2 last night. Oil, as we mentioned a big comeback. Wti closer to 50 a piece. Brent as youve seen, crude above 50 a barrel. Throwing in gold. Checking on gold prices looks like were more accommodative. And gold pricing 12. 44 an ounce. Verizon reportedly going to submit a bid for ya hoo business. Yahoo expected to hold one more round of bidding. Other tech news, apple is selling a 30year bond. That yield is lower than other recent bond issues in the taiwanese market by multinationals like intel, anheuserbusch, inbev. Apple is raising 1 billion to 1. 2 billion in its first issue of debt in taiwan. Shares of sarepta therapeutic soaring. The Agency Deciding to approve the drug up 26 this morning. Alexion pharmaceutical says it missed the primary stage in latestage trials. For a drug for debilitating neuromuscular disease down 10. 5 . A u. S. Judge has freed Gilead Sciences from any liability on the fight with merck. The judge found a pattern of misconduct by merck which includes lying under oath and other unethical practices. Sorry stocks to watch. Fedex is raising its Quarterly Dividend by 60 . Fedexs profits have topped forecasts the last two quarters, and thats thanks to a surge in online shopping. United Natural Foods is raising its financial outlook. Whole foods accounted for more than a third of its sales last year. And 30 quarter profit beating forecasts thats thanks to a 21 rise to rv sales. And it is the summer diving season and we might see more of those rvs on the roads. Lets move on to other corporate news, cisco reportedly receiving nominations from other executives. The wall street journal cites an internal memo. The executives were responsible for a number of key products leaving the company falling on what sisco calls a disconnect. An executive at twitter. Executive shuffles at twitter replacing the head of the products team. Twitter does not have a permanent replacement announced and its launching a search to fill this role. Recode said seibert will go bag to running twitters Product Development suite which is what he was doing before being promoted last year. And a longdelayed Earnings Report revised productist with labor costs out at 8 30 eastern. Followed by productivity and labor costs this afternoon. Valeant reporting its First Quarter results before the opening bell. And investors will look for reports from the new ceo. Landon dowdy joins us with three things to watch from valeant. Its the second thing since the nent last year. Here are three things to watch. First, the street is looking for earnings of 1. 30 a share. On revenue, 3. 4 billion. This one should be left dramatic than the previous one in march. Thats in the stock was sliced half as it failed to file its Financial Statements on time. Valeant shares down more 50 in the past three months. Second, new management. Investors want to know what new ceo joseph papa has to say with drug price increases that led to a pile of debt. Sales of most of valeants products dropped in the First Quarter as managers pushed back on the city. Third thing to watch, reducing its 30 billion in debt. What assets it may consider nonessential and be put up for sale, guys. Thank you very much. Were going to go to a break here on Worldwide Exchange. Coming up, pimcos chief Investment Officer from london joining us. Before we head to break acres look back at this day in history in 1995. The first boeing 777 with united airlines, the 777 is the Worlds Largest twinengine yet and also boeings largest. And its one of the top performers on the dow which closed up 6 . Were back in a couple moments. Welcome back to Worldwide Exchange. Lets get you up to speed on market action. Yesterday, we saw markets close on the high, dow up. 6 . Nasdaq up 0. 5 . The dow called higher by 60 points. And also from europe, europe particularly strong this morning, as you can see, the dax up 1. 6 . Industrial production slightly better in germany than in april. But really, this is continued positive sentiment from yesterday. And of course, the strong gains we saw on wall street. Worth noting, though, these gains coming in europe, despite yesterday the euro gaining significant ground and pushing close to 1. 14. The extent surprising in europe. Susan. Led get to todays trade. And the s p is now just 1 . From an alltime high. Which stocks our data teams for the best performing names when the dow and s p rallied historically 5 in month one since the bull market in 2009. Real estate, audio, hotel and business Retail Companies moving higher. General growth properties, harmon international, host hostels and united rentals. The best dow returns come from dupont, general electric. Hedge fund returning 1. 6 billion to investors. Fund posted a return in 2009 and a positive gain in 2010. Last year it lost 2. 7 . And is now down 2. 6 in 2016, through to may. Well, lets talk about risk events then. In Global Markets right now, its all about the brexit. The new brexit poll finds that the leave campaign is narrow egg the gaps. A survey for the Daily Telegraph 43 to remain. The yougov poll, 45 to remain. 43 to leave. And 45 percent, saying that staying in the eu, 43 saying theyre going to leave. Whats really interesting as well before we get to the next guest is how closing the pound is tracking the polls. Yesterday, the pound was down. 06 after a poll to exit. Two polls giving a lead. Weve got the pound rallying a percent. Thats a big, big move for one day. It shows that markets are waking up to the fact. Focusing on the polls. Lets discuss brexit further. Joining us from london is andrew balls. Very good morning to you, andrew. Thanks for joining us this morning. So far, the focus in and around brexit is on sterling. But it hasnt moved on the markets too significantly. Do you think that will change as we get closer to the vote . Thats possible. Currencies tend to be the one which really react to these macro and political events. You have not seen Much Movement in terms of guilt versus u. S. Treasuries, for example, theyve pretty much tracked this year. You have seen some weakness in the Banking Sector which makes sense. The banks exposed to the economy. Whereas equity markets, for example, are global in their outlook here in the uk. In the moment, the polls, theres a lot of uncertainty. You do see these reactions in terms of the currency day to day. Because of intricacy, if question get any greater clarity as we get towards the referendum date. We just mentioned the euro, it strengthened more based around u. S. Fed factors than anything else but should the euro be showing more signs of weakness as we approach this vote . Its not just the uk, its a europe issue, too. Its mostly a uk event. We think the largest Immediate Impact would be the on the uk economy. Therefore, the currency kind of the thermometer of making sense. You can see spillover to europe. You can see a pillover to the euro. So the European Asset markets. So i think thats reasonable as well. We do think theres going to be a lot of uncertainty in terms of brexit in how it plays out and, b, the primary effects are the uk markets. When it it comes to europe, theres a long list of things to worry about in europe, besides the outlook. How is pimco recommending ahead of a possible brexit . It depends what you have in the portfolio, we think banks look quite attractive. Even in the event of an exit, we think theres good value there. We have overweights to the uk banking settinger. And then positions of guilt markets or currency markets tend to reflect other credit positions or bull credit positions that we have. I think that using the currency or guilts is a hedge for brexit risk which sends expectation in event of brexit, with the banks cutting rates possibly going down to zero. So having a position there makes sense. But for us, its going to depend on the overall portfolio. Speaking of rates, i think everyone is focusing on the rate hike. And janet yellen. And your call on that . So, a lot is going to depend on the next jobs number. I thought yellen was pretty balanced. The weeks jobs number is something theyre not going to ignore. Were going to have a jobs report ahead of the july meeting. I think july is quite possible. But its going to depend on the data. The broader data has been pretty good in the u. S. , as yellen said, in terms of the activity data. Payrolls is a pretty noisy series. The three month to sixmonth series is pretty reasonable. Andrew, thank you very much for joining us from london. Andrew balls of pimco. Voters are heading to the polls in six more primary states later on tonight. And the news is official that Hillary Clinton is the Presumptive Democratic nominee. Bernie sanders says hes not giving up. The latest from the campaign trail next. Before we head to break, here the weather channels National Forecast from jen carfagno. Were continuing to watch Tropical Storm colin rapidly move away, skirting along the North Carolina and South Carolina coast and out to sea. Minor impacts. Its leaving a tail of it in to florida. We do have a front moving into the northeast. That will bring showers and possible Severe Weather. Weve got about 7 Million People in that risk zone for Severe Weather including the boston area. Temperaturewise, weve got a cooldown in the midwest. That moves into the northeast and amazing weather coming your way then. Plus, the heat is still on. Today in the west, four days in a row with record breaking high temperatures in phoenix. That kind of heat will be building east for the rest of the week. Dallas heading up to 92. Thats the coasttocoast forecast. Im meteorologist jen kacarfagn. Worldwide exchange continues after this. 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. Nbc and other networks have declared Hillary Clinton the presumptive nominee for president. Tracie potts joins us. Hi, it appears Hillary Clinton may have already taken the big prize. Were going to come out of the primary Even Stronger to take on donald trump. Reporter after more than 400 Public Events including his concert in los angeles last night, Hillary Clinton is declared the Presumptive Democratic nominee. She tweets, we are flattered but weve got primaries to win. California and five other states vote today. Were going to win here in california reporter Sanders Campaign calls the clinton win a rush to judgment. He insists hundreds of superdelegates supporting clinton may thing their minds if he wins california today. Its going to be very difficult. Im not here to deny that for a kicked. Reporter donald trump is taking back what he said about the judge and university case. Im very disturbed by what he said about the judge. Mexican or not mexican, i want him to be all i want him to do is give me a fair shake. I dont know whats in his heart, but i know what hes saying, with respect to the judge, thats a racism attack. Senator, can you fathom still at this point supporting donald trump in november . Reporter its nearly over with republicans and democrats still striving for unit. Officials say president obama is eager to endorse Hillary Clinton. He actually had a phone call with Bernie Sanders talking about the campaign yesterday. We heard that endorsement of clinton may come as early as this week. Tracie, the announcement of the superdelegates doesnt change overnight. Do you think theres a chance he pulls out or does he maintain his position right through july . Its a good question, i dont know. But what we do know is that, if he does poorly today, if he doesnt make a strong showing in california and some of these other states, hes already said that new jersey probably wont go his way, but if he does poorly today, then he has much less of an argument to stay in this race. Remember, at this point, his strongest argument is if i do well, i can pull superdelegates into my corner. If he doesnt do well, he doesnt really have that argument anymore. Tracie, thank you for that. Do get in touch with us today on twitter, weve asked you the question of whether, after the news overnight, Bernie Sanders should maintain in the race. Of course, clinton is the presumptive nominee. If you count those pledged superdelegates. Should bernie throw in the towel . Yes or no. Lets get to sports and stanley cup finals. Pittsburgh penguins downed the sharks on their home ice. 31. Game five is back in steel city on thursday, you can watch the action right here on nbc and cnbc sports network. Coming up, a update from Royal Dutch Shell following its massive acquisition of bg group. Plus, hugh hefner has a new landlord. Details of the sale coming up in a few minutes. P . P . H youre not gonna watch it no, youre not gonna watch it we cant let you download on the goooooo youll just have to miss it yeah, youll just have to miss it we cant let you download. Uh, no thanks. I have x1 from xfinity so. Dont fall for directv. Xfinity lets you download your shows from anywhere. I used to like that song. Good morning. Markets now, brent crude trading near a sevenmonth high. Well hear from the ceo of shell in moments. Breaking overnight, Hillary Clinton hits the magic number to clinch a democratic nomination. Rival bernie sand efforts isnt backing down. Check this out, 62 Million Hedge Fund tearing down his mansion. Youre watching Worldwide Exchange on cnbc. A very good morning and a warm welcome on Worldwide Exchange. Im wilfred frost alongside susan lee for sara this morning. Good morning. Lets check on market its and get you up to speed for whats happening. Sessions telling us were in for higher starts. Dow culled 72 points. Nasdaq called up by 21. Lets check on fixed income since we do have a replacing of fed rate expectations given comments by janet yellen. 1. 73 for the tenyear. Now, more on markets to come in a minute. First breaking political news. Primaries and in six states. Call it the final super tuesday. California has the most delegates at stake. Performance secretary of state Hillary Clinton and senator Bernie Sanders. Ahead of todays contests word comes that Hillary Clinton has gone over the top of the number of delegates needed to clinch the democratic nomination. Rival Bernie Sanders has been a critic of the superdelegate system saying those delegates can switch their votes anytime before the convention in july. Well have much more on the political story later this day. And the attacks in istanbul. Turkish Officials Say it t