Good morning. Very warm welcome to Worldwide Exchange here on cnbc. Im wilfred frost. Im seema mody in for sara eisen. Good morning to you. Nice to have you with us. Good to be here. Lets check gobel mlobal market. Futures or i should say u. S. Stocks ending higher yesterday. The s p closing about 1. 6 away from the record closing high. Futures indicating a lower open. Down 3 for the s p 500. Dow jones off by 14, and the nasdaq off by 3. This as we kick off the earnings season for q1. Treasuries have been in focus. Yesterday fed chair janet yellen dropping a hint that rates will be likely rising again shortly. The tenyear yield hanging out around 2. 3 to 2. 4 . Right now at 2. 34. Lets look at equities around the world. Asian Equities First up. The nikkei and hang seng both down a bit today. Hong kong almost down three quarters of a percent. Shanghai up about 0. 6 . European trade to move on to that, we had some data hit the wires. Eurozone industrial output down 0. 3 month on month. It was forecast to rise 0. 2 . The eurozone industrial output a little bit soft. We just had this Business Confidence index, Current Conditions were strong as were the economic expectations. So the number, german Business Confidence was better than expected. Industrial output was worse than expected. Moments ago we had uk inflation data. The cpi reading came in at 2. 3 for the second month in a row. February and march above the bank of englands forecast at 2 , raising questions for what that means about Monetary Policy moving forward. Those rtd euroare the european board. As for broader markets, across various asset classes, lets look at the price of oil, which last week had a very strong week to the upside. Thats why we saw Energy Stocks outperform. You can see wti crude reversing those gains, down about 0. 3 . Ice brent crude, the international gauge of oil at 55. 84. Nat gassying gre iseeing green. And the dollar will be a focus for earnings season. Will the stronger dollar at all impact some of the multinationals. Weve seen the dollar come off the highs as of late. So maybe thats a benefit to names like walmart and apple that do so much business overseas. You can see the yen higher against the u. S. Dollar by 0. 2 . The pound, in response to that inflation data, Holding Ground at 1. 24 against the u. S. Dollar. Not Much Movement from the European Data or the uk data. Dollar not doing much today. Gold prices are up about 0. 4 . About a third of a percent today. Down a similar amount yesterday. Making headlines this morning, janet yellen says the u. S. Economy is healthy now and should continue to grow at a moderate pace. Speaking at an event at the university of michigan last night, janet yellen said the central bank is shifting its focus. Before we ever put foot press down on the gas pedal trying to give the economy all the oomph we possibly could, now allowing the economy to kind of coast and remain on an even keel, to give it some gas, but not so much that were pressing down hard on the accelerator. Thats a better stance of Monetary Policy. Janet yellen did not offer specifics on the timing of rate hike or the potential reduction of the 4 4. 5 trillion balance sheet. To the economic agenda. The National Federation for independent business puts out its monthly Small Business survey at 6 00 a. M. Eastern, followed by the job openings and Labor Turnover survey by the Labor Department at 10 00 a. M. Minneapolis fed president Neel Kashkari is speaking this afternoon. Jana partners raising its stake in whole foods to 8. 8 . Jana wants the company to speed up a turnaround, improve technology and operations and explore operations, including a possible share. Shares of the grocery chain lost nearly half the value since peaking in 2013. Jana lined up possibility board nominees. Glenn murphy, tad dickson and meredith adler, jana is also working with diana dietz and mark bittman as consult instants. All of these people bought shares in whole foods. Sources tell cnbc that jana has yet to speak to whole foods management about the ideas. Some deal or m a in the food space or in the grocer space. I wonder who would buy them. Whole foods already has a market value of 10 billion. Super value at 1 billion. Already quite large. Its niche and highend, which means many think its more protected from the changing nature of the grocery market. Clearly it suffered from that either way in the last couple years. I wonder, y tshgs yes, the shar have come down significantly, but with amazon expanding and the broader threat groceries are under, its a tough sell. Toshiba filed its twice delayed Earnings Report today without the endorsement of its auditor. Pricwaterhousecoopers says it was unability to form unable to impression. Toshiba reported bigger than expected losses due to write downs at its u. S. Nuclear business, westinghouse. Shares of toshiba down 2. 7 . United airlines is responding to a social Media Firestorm after a passenger was dragged off a companys plane late on sunday. The video going viral yesterday shows a passenger on united flight from chicago to louisville being forcibly removed before takeoff. The flight was overbooked, after the united team looked for volunteers, one person refused to exit voluntarily and Law Enforcement was asked to come to the gate. The united ceo said employees followed established procedures and called the passenger disruptive and belligerent. In a Public Statement earlier yesterday, the ceo apologized calling the incident an upsetting event. Amazing when these things drag on for a second or third day, were still focusing on them. But you can understand it. The outrage relating this is huge. Not only is it a very sort of brutal and forceful removal by Law Enforcement operatives, not united employees, but following uniteds request to do so, but people were already on the plane. Its not like they decided to shift passengers off while they were at the gate. It adds to the confusion that this guy had grounds to say, no, i dont want to get off. In that video we can see the reaction from passengers, the surprise and shock as we watch that passenger be forcibly removed. In separate news, the airline is raising its forecast for First Quarter flight capacity. The company says this is the result of a number of completed flights relative to the number of flights scheduled. United now expects q1 Capacity Growth of 2. 6 compared to a prior forecast of a 1 to 2 increase. The airline forecast passenger unit revenue during the same period to be about flat. Now to the Financial Sector and wells fargo. Following yesterday mornings board review in the sales practice scandal which was critical of former ceo john stumpf for failing to realize the miss ggivings of carrie tolstedt, i asked tim sloan how it was that he came to the decision to end her tenure. I worked with her on some things that i had asked her to improve on. And we just came to the conclusion within a few months that it made sense for her to move on. And what i saw was an executive that while having a successful career had some challenges in terms of working with others. Had so the dealt as aggressively with some sales practices issues as she should have. Though the board review gave sloan a relative pass relating to the saga, i asked if he could have done more sooner. When i look back, i should have and could have done some things differently once the issues made its way to the corporate leadership level. And in hindsight i wish we would have moved more quickly. We would have made decisions, for example, that we made last fall, which was to end the incentive Compensation Plan in the community bank. Finally we asked whether this review now means the worst is over for wells fargo. The board was clear in its report that their investigation is over with. There are other activities that are going on in terms of at the Justice Department and in other government agencies, were continuing to work with our regulators and so we have much more work to do in terms of rebuilding trust with all of our stakeholders. And making things right with our customers. No, i dont think this is a happen ter that chapter thats over with. The focus turns to earnings on thursday, and the agm on the 24th of april. On power lunch yesterday, despite this board review, they stuck to the recommendation that 12 out of 15 Board Members of wells fargo, the shareholders should vote against them for reelection. So a lot of focus on earnings and the agm. What this means for the stock price longterm, thats something investors are trying to understand and assess . Definitely. Sales figures initially dropped off significantly. They improved since then. The trend on that front is that the comparisons on a 12month basis still disae pointippointi the trend on a monthly basis has improved. The whole sector front and center for investors at the moment. Lets talk about qualcomm. Its counter suing apple in a dispute over licensing fees for mobile technology. The chipmaker accuses apple of interfering with royalty payments. This comes less than three months after the iphonemaker sued qualcomm for 1 billion. A top ford executive predicts the suv boom in the u. S. Will continue. Fords vp of u. S. Marketing says the Company Expects the market share of suvs to rise to 45 of Industry Sales within five to seven years. Were watching shares of tesla. The company officially becoming the most valuable u. S. Carmaker yesterday. Now boasting a bigger market cap than ford and gm. Definitely got auto analysts talking. More stocks to watch, boeing hiring norsk titanium. The norwegian 3d Printing Company says the move could shave 2 million to 3 million off the cost of each plane. I dont know if that was meant to be shave or save. Both words work. I bet it was meant to be save. Toll brothers outperform from sector perform at rbc capital, the price target 43 from 47. Retail me not agreeing to be bought by Harland Clark for 5 55 million. Harland clark offering 11. 60 per share for the coupon provider presenting a nearly 50 premium to the stocks close yesterday. Up 50 almost in premarket trading. If youre looking for a mover thats really seeing a big chart of the day, look no further than uk Chipmaker Dialog Semiconductor down sharply this morning. Set for the worst day in more than 16 years. Analysts downgrading the stock to sell saying theres strong evidence that apple is developing its own Power Management chip replacing dialogs in the iphone as soon as 2019. Last year shares of mimaginatio tech falling 70 after apple said it would not be using its chip any longer. This was a big mover yesterday onpoint le power lunch. Was a great article over the weekend in terms of the benefits and pit falls of being an apple supplier, off the back of imagination, one of the uk tech Success Stories alongside a. R. M. A. R. M. Another great example. Great analysis of the benefits and pitfalls. Another thing this story has led people to look at is the difference between apple and samsung. Samsung has such control over the supply chain for the galaxy smartphone, makes the chips, the screens. Apple is reliant on other producers. Apple is the one with the strong Bargaining Power compared to these other suppliers. Samsung is in a stronger position in terms of the supply chain. Still to come, g7 Foreign Ministers in italy today. A live report from that gathering coming up next. As we head to break, a look at where european equities are trading. The ftse 1 00 up almost half a percent. France and germany just below flat. Thats why i have the spark cash card from catal one. With it, i earn unlimited 2 cash back on alof my purchasing. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Which adds fuel to my bottom line. Whats in your wallet . Thithis ithe new new york. Ate . Think again. We are building new airports al. New roads and bridges. New mass transit. Nebusiness friendly environmen new lower xes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. Ny. Gov so yourhow nice. A party . Ill be right there. And the butchery begins. What am i gonna wear . This party is super fancy. Lets go. Im ready. Are you my uber . [ horn honks ] hold on. Dont wait for watchathon week to return. [ doorbell rings ] whos that . Show me netflix. Sign up for netflix on x1 today and keep watching all year long. G7 Foreign Ministers are meeting in italy today. Our own willem marx joins us from there. Whats the latest . Its the second day of meetings here in lucca. These Foreign Ministers gathering this morning trying to hash out a con census on syria in particular ahead of Rex Tillersons travel to moscow today. Boris johnson trying to explain whats at stake for mr. Rex tillerson as he travels onwards. Were trying to give Rex Tillerson the clearest possible mandate for us as the west, the uk, all our allies here, to say to the russians this is your choice. Stick with that guy, stick with that tyrant or work with us to find a better solution. Now, the travel of mr. Tillerson this afternoon, he will be meeting with Sergey Lavrov in moscow later today. The message from clearly a lot of these people is they need to separate russia from assad, from the syria regime. The Turkish Foreign minister here this morning, he has been talking about turkish intelligence that indicate theres are still chemical weapons stockpiled in syria. Hes been joined by representatives from qatar, jordan, uae and saudi arabia, all trying to find a political solution for syria. Willem, do we expect this unity among the g7 being delivered forcibly by Rex Tillerson will make a difference to president putins per spktspe on this issue . Rex tillerson has a close relationship with his counterparts in russia. He is a man who might be listened to by them. One of the carrots being dangled is to return them to the g7 and the g8 fold. As far as pushing them aside, this is something sanctions could do. Boris johnson talking about sanctions in syrian and Russian Forces involved in these attacks last week. I was going to tell you, wilfred, the move in the equity market has been interesting. The russian etf has seen three consecutive days of losses. A lot of this on the uncertainty about the latest air strike in syria and what it means for u. S. russia relations. Russia was seen as one of the big winners, if you will, for 2017. It already gained 50 last year. It was expected to outperform this year. But geopolitics now potentially changing that story. It will be interesting to see what happens when tillerson arrives in moscow. The other asset class to watch is oil prices. Energy was the second best performing sector last week on the s p. The best performing sector yesterday as oil prices jumped up 1. 6 . Still to come, a group of ceos heading to the white house today. Well tell you whats on the agenda for them. First the National Forecast from bonnie schneider. Good morning. Much of the country enjoying this record warm temperatures that were expecting today. 85 in washington. 82 in new york city, thats about 20 to 25 degrees above normal. In texas, watch out for rain and strong thunderstorms into tyler with frequent lightning strikes. This could produce a flooding situation down towards san antonio and into austin. If youre traveling in this regioning you may have fligregi flight delays. Looking cooler in the northwest. Mild in the rest of the country. Rain headed your way across parts of the northeast. Be prepared for that. Thats your business travelers forecast. More Worldwide Exchange when we come back. Thanks for loading, sweetie. Oh, burnton gravy . Gotta rinse that. Nope. No way. Nada. Really . Dish issues . Throw it all in. New cascade platinum powers through. Even burnton gravy. Nice. Cascade. In washington news, President Trump is hosting a big group of Business Ceos today at the white house, among them the leaders from gm, walmart, blackrock and tesla. This is the latest in a series of meetings President Trump held with Business Executives to gain traction for his economic plan. The chicago cubs are celebrating a world series win five months later. The team raised the ham wlchampp banner at Wrigley Field last night. The players wore gold numbers on their jerseys. The cubs will get their world series rings tomorrow night. Each ring contains 108 diamonds for the number of years since the cubs last championship. Takes them a long time to get to the rings. Why the delay . I need to find that out. The u. S. , mexico and canada planning to make a bid to cohost the 2026 fifa world cup. If successful it would be just the second time the tournament that had multiple hosts. Japan and south korea cohosted in 2002. The world cup will expand from 32 to 48 teams in 2026 increa increasing the number of matches to 80. Under the joint bid, the u. S. Would host 60 games, mexico and canada would