Im wilfred frost. Im seema mody in for sara eisen today. It is Throwback Thursday. In honor of National Bring your kid to workday, were channeling our inner child in us and throwing back to some good songs from childhood. I assume, wilfred, this is your pick. This was my top pick. Are you a lion king fan . Absolutely. You were a little critical of my choice of song it seems. I reference those songs from my teenage years. Its great. Either way, were both still children at heart. Absolutely. For now, the adult also look at t markets. Investors are greeting trumps tax plan with a certain level of skeptici skepticism. Yesterday day after spending most of the day in positive territory, the markets slumped at the close. All fell in negative territory for the day. Futures mixed. Dow jones up six points. Nasdaq up higher fractionally. The s p 500 is flat if we look at tenyear treasury note. 2. 30 . A couple pieces of Economic Data today, including pending home sales and durable goods. On the bond market, big move up on reflation in yields on monday when we had that riskon move off the back of the French Election results, otherwise stable since. As for yesterdays equity market moves, yes, flat, slightly down, but that was after two days of gains. Diving into it yesterday, there was a massive divergence in sector performance. Overall markets flat. Real estate was down nearly 1 , the worst performing sector. The best performing sector, materials, up over 1 . Materials have been good over the past week. Lets look overseas. The bank of japan keeping rates unchanged. The boj wrapping up a two day policy meeting raising its view of the economy. The central Bank Increasing the gdp growth forecast for the current fiscal year but lowered the core cpi forecast slightly. 1. 6 gdp, 1. 4 cpi. Lets look at what the yen is doing. The Dollar Strengthening by about a quarter of a percent. The dollar has been weak against the yen in arent serecent days weeks. We also got data out of south korea. Strong exports and capital investment. Asian equities there for you. A bit of red on the nikkei, half a percent of gains for hong kong. Now we look to the ecb policy meeting and Mario Draghis speech. The economic recovery in europe has been notable. A pick up in growth, inflation, unemployment has also improved. Lets look at european equities ahead of the policy meeting. Well get that chart in just a second. Essentially a great week for european equities. Dax just down 0. 3 . It has been a notable rally in europe after the first round of the president ial election in france. Three days of gains for europe. On thursday we are lower, but well see what mario draghi, super mario, has to say about europes economic recovery. I think its too early to say theyll taper or show signs theyre willing to squal backcan ge quantitative easing. Last month he did strike a more hawkish tone than people expected, and investors interpreted it as the end of loose policy at some point early next year. We saw a move up towards the 1. 09 handle, so much so that ecb members came out the middle of last month to offset that. It would be a surprise if he struck again a hawkish tone given that just a couple weeks ago we had ecb members stepping away from that. The only swing factor thats happened in between an seen more confident is the first round of the French Election. Given its only the first round, i think it would belikely for mario draghi to talk more b. That before the end of the second round. The euro up significantly this week off the back of the French Election. Oil prices for you, which yesterday were basically flat. They are lower today by a percent. 49. 01 on wti. Looking at the dollar, euro has been stronger. We were up 109. 5. Bang on 109 this morning. So the euro flat ahead of the ecb meeting. A lot of euro strength off the back of the Political Landscape as opposed to expectations from the ecb. A bit of Dollar Strength following the yen, but dollar weakness against the pound. The other one we should mention is that the peso and the Canadian Dollar have strengthened against the u. S. Dollar on talk that nafta, of course, is not going to be outright pulled out of by the u. S. Immediately. More broadly, of course, the dollar very soft this week at or near lows not seen since november. Gold prices down 2 for the week as a whole. The top washington news, the white house says President Trump has agreed not to terminate the nafta treaty at this time and will attempt renegotiation. Trump called the leaders of canada and mexico to reassure him of his perspective. There were news reports earlier yesterday that the Trump Administration intended to bring the process of withdrawing from the trade agreement. The peso since the election, lets look at the chart. Its up about 4 , but it just it has been recovering as of late on this thinking that nafta wont actually or we wont see a tariff or export tax put in place. But look at the Canadian Dollar. That shows the dollar is up 4 since the election, then softening today. So the peso gaining today. The peso has come back a lot against the u. S. Dollar. It hit a low on december 21st of 2016. Canadian dollar for you as well. Overnight the takeaway is both have rebounded. The Canadian Dollar less than the peso. Both charts showing dollar weakness against these currencies, as it was announced yesterday there wont ab outright pullout of the nafta agreement by the u. S. Wilbur ross is launching an investigation into imported aluminum. The investigation will seek to figure out whether countries like china are using unfair subsidies and practices while producing aluminum. The u. S. Production of aluminum has decreased significantly in years sparking concerns that the u. S. May not be able to handle demands as the result of a war. Well have more details on the probe when commerce secretary ross joins squawk box at 7 00 a. M. Eastern time. Im sure our wonderful producers put that word in more than it needed it to be to hear me pronounce it. You got it right. Like seven times in the space of 30 seconds. The white house rolling out details of the President Trumps tax plan. Treasury secretary Steven Mnuchin calling the proposal the biggest tax cut in u. S. History. The plan seeks to cut the Corporate Tax rate to 15 and reduce the repatriation tax on offshore earnings. It would double the standard deduction for individuals and reduce the tax brackets to three from seven. Heres what secretary mnuchin has to say about the timing of getting the proposals passed. Weve had productive meetings with the house and Senate Working weekly to get this done. We will continue to do that. We are determined to move this as fast as we can and get this done this year. Still a lot of unanswered questions, will Congress Pass this . Thats the big question, especially after the failure of the healthcare bill. But also how theyll pay for it. The deficit. Thats still a big concern for economists. And i would frame it more negatively and how on earth can they get this plan passed . Theres such optimistic projections included in that. Paul donovan framing it nicely, the market wanted to see the leader of his executive and his lieutenants outline a clear plan that could get passed. This was a Campaign Pledge with a couple of bullet points in it with headlines that no one believes can get done. Maybe this is, again, another art of the deal opening ploy, lets say 15 , well settle at 20 . But unsurprising to see softness in the markets yesterday afternoon on the back of this announcement. If investors believed this was going to be delivered, 15 Corporate Tax rate, we would see the market rally. We didnt see that because people see how hard it will be to pass this. That intraday reversal in equity markets notable. United Airlines Says it will offer up to 10,000 for passengers who give up their seat on overbooked flights. This after the Public Relations disaster that erupted earlier this month after dr. David dao was dragged off a united flight. Dao was only offered 800 to give up his seat. The other notable change, passenger s on board and in ther se seat, if they are, they cannot be removed from the flight unless theres a safety or security issue. Phil lebeau will have more on this later in the show. The stock up 3 over the course of the last month i believe that is. Either way, its not moving much. Last two weeks. Another big mover is Buffalo Wild Wings slipping in the premarket trade and landon dowdy has all the details. Whats going on with this stock . Shares of Buffalo Wild Wings tumbling about 2 in early trading after the firm posted disappointing earnings yesterday. Earning 1. 44 a share, 24 cents below expectations. Blaming soaring wing prices, but that could give an activist investor an outer hand as they try to oust sally smith, the ceo. Mercato has been pushing Buffalo Wild Wings to franchise more restaurants. Buffalo wild wings will hold their Share Holders pleating on june 2nd. Shares down nearly 10 over the past two years. Back over to you. Thank you very much. A couple more stocks to keep on the radar. One is Deutsche Bank reporting lower than expected revenue partly thanks to a negative impact of credit spread. Still the banks profit more than doubling in the First Quarter. This is the first earnings from Deutsche Bank since they completed an 8. 5 euro Capital Increase earlier this month. Here is the cfe earlier today. The most important point for us in the First Quarter is to see in the different business lines we see the turn. Exactly that has happened. Shares of the german bank are down 3 right now. The interesting thing in this is the Investment Banking performance. Global markets up 9 yearonyear compared to about 20 growth in the same they break it down differently, but the same performance for the u. S. Investment bank. Deutsche bank really losing ground. The question is is this a shortterm effect or is it structural . The question for them is they pretty much zeroed all of the Investment Bank bonuses over the course of the last year. Do they start losing headcount as well . I think most people that i speak to off the report, of course, in terms of senior people there, theyre willing to give it another year, they wont jump ship immediately, but they need to start turning this around or this is a serious market share loss. 3 loss in the share price. Only time will tell. Lets continue the discussion around financials. This time a uk bank, lloyds, says its net profit increase in the First Quarter of the year as the british economy continues to hold up post the brexit vote. The bank is also raising projected Net Interest Margin which is a closely watched target. Shares up 4 . The uk Domestic Retail Bank that this is, its not really an Investment Bank is performing better than people expected. Another postbrexit surprise. Rbs up off the back of it. Also barclays reports tomorrow. Barclays is more of an Investment Bank than retail bank. They will focus on barclays tomorrow and hear from jeff staley since he was caught up in the whistleblower issue. We will listen in on the call tomorrow which is about the time of worldwide exchange. Pay pal reporting upbeat quarterly results, an increase in Payment Processing volumes. A few more stocks to watch. Shares of Weight Watchers getting a bump after naming a new president and ceo. Mindy grossman taking over in july. Shes currently ceo of hsn. Samsung electronics posting a solid First Quarter profit getting a boost by the memory chip business. The company also flagging stronger earnings for the Current Quarter and a cancellation of treasury shares. Shares up 2. 4 . Over the last three months up about 10 . Samsung shrugged off that issue with the galaxy phone in and around the last 6 to 12 months. Citrix reporting mixed results. Shares of the company taking a hit after revenue came in below analyst expectations. Shares are down about 6 . Coming up on the show, shares of takata suspended today. Is this the end of the road for the air bagmaker . Details when we return. Whats happening right now . Were facing 20 billion security events every day. Ddos campaigns, ransomware, malware attacks. Actually, we just handled all the priority threats. You did that . We did that. Really. We analyzed millions of articles and reports. We can identify threats 50 faster. You can do that . We can do that. Then do that. Can we do that . We can do that. If you want to stay on top of your health, one simple thing to do is take the pledge to go and get screened for the cancers that might affect you. So stand up to cancer and take the pledge at getscreenednow. Org it only takes a minute to take care of yourself, and nothing rhymes with org. Welcome back to worldwide exchange. International Central Bank Meeting day, thats my title. A bank of japan meeting earlier. An upgrade of gdp forecast to 1. 6 . The nikkei just below flat off the back of that by 0. 2. Also in asla, a biasia, up a bi. Across europe, a bit of uncertainty ahead of the ecb meeting today. Not expecting action from mario draghi. Last month his comments were interpreted as a little bit hawkish, so much so that the reaction we saw in markets led to central bank members coming out to soften expectations. As we come into this meeting, shouldnt expect too much on the hawkish side of things. Either way a bit of softness today in europe. Futures, lets look at them off the back of a slightly negative day yesterday. Again off the back of strong gains for the week. The dow called higher by 16 points. A couple stocks to keep an eye on. F5 networks reporting modest gains but missing estimates. Shares are down sharply under the network companys new ceo. Tractor supplys First Quarter results were in line with forecasts. The retailer blames the weather for some short comings, but says it is encouraged how customers responded recently and expects strong business this spring. The stock up 1. 5 . Las vegas sands beating estimates, but revenue came in shy. The las vegas operations were strong, and the is a secasino mn macau is improving. They are also look to open a resort and casino in japan. Shares of takata suspended today after a report says the struggling auto partsmaker is considering whether to file for bankruptcy. It would call for a u. S. Company to sponsor the turnaround for 2 billion. Shares down 19 this morning and suspended. German labor Officials Say tesla is offering pay raises and job guarantees to defuse tensions at a key supplier. They are key to ramp up production and mass market car production. Astrazeneca hq1 drops on blockbuster revenue. Wpp says Revenue Growth slowed in the last quarter as ae clients spent less in the u. S. And emerging markets. Sir Martin Sorrell on squawk box europe earlier this morning talking about business in china. Down in china q1, mainland and elsewhere around 6 . The weve seen the multinationals come under heavier pressure in china. The growth in the economy is driven by real estate and construction. There has been, i think, some loosening from an Economic Policy point of view in china. But i dont think well see any significant change until after the Peoples Party congress in november. Shares of wpp down 2 . Netgear beating the street on the top and bottom lines. Shares of the Networking Company down 5 . In the pharma says, bayer reporting sales ahead of forecast and raising fullyear guidance. Shares up about 3. 5 . Nokia beating analysts forecast expecting sales of the network unit to decline this year in line with the market. Up 6 . Amgens quarterly profit topping expectations offsetting a sharp drop in sales of a blockbuster drop. The company reporting a double digit sales deline fcline for a Rheumatoid Arthritis drug. And airbus hurt by weak pricing and higher costs. Airbus facing an issue with a key engine supplier. Still ahead, remember this bbc interview that went completely viral . The internets favorite interrupting kids are back that story when we return. 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. Welcome back to worldwide exchange. Time for our top trending stories. The bbc interview kids are back. The two children who famously crashed their fathers bbc interview are getting their own cartoon series. The adventures of mina and jack showcasing the duo following their father around the world helping him solve crime and get out of other sticky situations. Extraordinary tangent theyre trauing from one viral viddrawi viral video. But Crime Fighting father . Sometimes being naughty pays off. Its a big step. There we go. Great story. That video did go universally viralment. Amazon wants to help you up