To view this email as a web page, go to the link below, or copy and paste it into your browser's address window. https://click.response.cnbc.com/?qs=e13a8712cd503764e3e81752372fe365e83d5dd792fb899df7df33287063a95f63e2643f36b1fa94CNBC | Morning Squawk To view this email as a web page, click https://click.response.cnbc.com/?qs=e13a8712cd503764e3e81752372fe365e83d5dd792fb899df7df33287063a95f63e2643f36b1fa94 here. https://click.response.cnbc.com/?qs=e13a8712cd503764b3671141faf0538990ae938ba5364a5fd61b00faf850105e7d3e60531ec59432 https://click.response.cnbc.com/?qs=e13a8712cd503764eb0644ad2adda847024347517a374e6a574ed1d3d6d5f01ae8af2edfd9673681 IN THE NEWS TODAY U.S. stock futures https://click.response.cnbc.com/?qs=e13a8712cd5037641f1ef5e6a13c4063cdedc56730a4f5fa93389695d6123475faaa2c01f64101df were higher this morning, following the best two-day market rally since March. The S&P 500 and Nasdaq were coming off their highest closes in nearly a month, while Apple (AAPL) logged a four-session winning streak for the first time in over a month. (CNBC)HP Incorporated (HPQ) beat estimates on earnings, but missed on revenue. The computer hardware maker also issued https://click.response.cnbc.com/?qs=e13a8712cd50376459cfda8f02bd71e8a2daae93cb84b0255f3fa4ea88f0fdea2b0b428ee3a751ce weaker than expected current quarter guidance and cut the high-end of its full-year outlook, as the personal computer market continued to struggle. (CNBC)Brent oil futures https://click.response.cnbc.com/?qs=e13a8712cd50376474da3579be9ad8f4815e66a71536f3fc03d87bb9e089d051673b26ea9ad12dd4 broke above $50 per barrel this morning for the first time in nearly seven months, boosted by Americangovernment figures showing a sharper-than-expected drawdown in stockpiles last week. U.S. crude was right around the $50 level. (Reuters)Japanese Prime Minister Shinzo Abe today warned his G7 counterparts of a https://click.response.cnbc.com/?qs=e13a8712cd50376426a06952088c085d26a5e8d9a10c6fa54898085fe23b4393d22e78060bceb736 crisis on the scale of Lehman Brothers , Nikkei reports, arguing a 55 percent drop in commodities prices since 2014 mirrors a similar move lower during the global financial crisis. https://click.response.cnbc.com/?qs=e13a8712cd503764a502ecbf4f5d2909501ca3cef29ac64dcc0c78e5c9e20161fdb7649e8ebae183 https://click.response.cnbc.com/?qs=e13a8712cd50376497956ac31fae98a7a2c57b322c3b9f117e7f8fcc8b21099dca390a60392cfb40 https://click.response.cnbc.com/?qs=e13a8712cd503764732a0a6f8c5a371aa39a1237c04f2f4b469ddfdc39088f2a8b562ec493f817f5 President Barack Obama said in Japan today https://click.response.cnbc.com/?qs=e13a8712cd503764acb5d14f8121103a3439bd487494443cba9927e4bda2f47a667d9c23d0c51587 world leaders are "rattled" by presumptive GOP presidential candidate Donald Trump and have good reason to feel that way. Obama said Democratic candidates Hillary Clinton and Bernie Sanders are not that ideologically different. (AP) https://click.response.cnbc.com/?qs=e13a8712cd503764216a8f9708a2ba8b71e1fa6b9e229d239b96a586287b23d96cb3977435342b32 Hillary Clinton violated federal records rules through her use of a private email server while she was secretary of state, a State Department audit concluded. The review challenges some of Clinton's fundamental assertions about the practice.(NBC News) Walt Disney (DIS) chief executive Bob Iger https://click.response.cnbc.com/?qs=e13a8712cd503764f9192caf157ff595d1c0a6b7f204b2547ad8d064036169a298bf586d3010e9b3 has shot back at Bernie Sanders after the Democratic presidential candidate attacked the theme park and movie giant over worker pay and conditions. In a private Facebook post seen by The Wrap, Iger slammed Sanders.A top Apple executive raised the prospect of the iPhone maker buying Time Warner at a meeting with the owner of HBO, CNN and Warner Brothers, https://click.response.cnbc.com/?qs=e13a8712cd503764f98c21c70777a3155ed36680629301fc5bbd626a433675ccd374312847540dad according to three people who were briefed on it . (FT)"It's less about revenge and more about specific deterrence," said Peter Thiel, in the billionaire Silicon Valley entrepreneur's https://click.response.cnbc.com/?qs=e13a8712cd503764fe3519630abaa430ca6a6187639df753afcbc6e188ee6b300ffa5a6b1bf7edbe first interview since it was revealed he backed wrestler Hulk Hogan's suit against Gawker. A jury in Florida recently awarded Hogan $140 million. (NY Times) A LendingClub (LC) fund that invests in the firm's online consumer loans https://click.response.cnbc.com/?qs=e13a8712cd50376469da1177d9f91bb01b6b4e21c7633c029fd5466a0dd7f7db247b2870488f38ba suffered one of its worst monthly performances for April and disclosed it was buying riskier loans than originally intended, reports the Wall Street Journal. The CEO was forced to leave earlier this month. Wells Fargo (WFC) is launching a https://click.response.cnbc.com/?qs=e13a8712cd503764bd74cf271c0d82e047be251472125e47149d930b4da24fdbad2969442c313c90 3 percent down payment mortgage to help out first-time buyers and low to moderate-income buyers who've largely been sidelined in the housing recovery. The minimum FICO score for these loans is 620. (CNBC) Shares of https://click.response.cnbc.com/?qs=e13a8712cd5037640890ada443efd31949205113c2a0e4280f70fa46be43e3dca02bc569b735db1f Takata surged more than 20 percent , after U.S. private equity group KKR offered to support the turnround of the Japanese airbag maker embroiled in the largest automotive safety recall in history. KKR is among several candidates to express interest. (FT-subscription) https://click.response.cnbc.com/?qs=e13a8712cd503764487010cd070cf837c5a3a853d9062e50f8205462a893682fda00ea9c92dcdecf Beating out a European consortium , General Electric (GE) won a contract to supply engines for South Korea's KF-X fighter jet project, in a deal that could be worth an estimated $3.5 billion. The move advances Seoul's effort to reduce its reliance on the U.S. military for air defense. (Reuters) Starbucks (SBUX) is planning to open its first high-end Starbucks Roastery and Reserve Tasting Room outside the U.S. The new facility https://click.response.cnbc.com/?qs=2e6884e4d01be46effd36378821b56e458d6c8f0f61c411a2aff0fc338c7b23da85745f251a0f9ee opens in Shanghai next year . Starbucks chief Howard Schultz told CNBC the China market has the potential to grow past the U.S. For the third year in a row, McDonald's (MCD) is temporarily shutting down its headquarters because of protesters ahead of https://click.response.cnbc.com/?qs=2e6884e4d01be46e7f6f0fe5a4b0574fb16fef7c985cde1e265367d5d2746b81d628c8c297e54f19 today's annual shareholders meeting . Fast food workers are pushing for wages of $15 per hour and the right to form a union. (Reuters) Messaging app Snapchat https://click.response.cnbc.com/?qs=2e6884e4d01be46ecc5a58a5594cdcdee49a93aecabcf755a36b07b7f2ce969493ada9d16a2239cf has raised $1.81 billion in an equity offering, indicating strong investor interest, despite concerns about struggles to attract advertisers. TechCrunch said the company could be valued at about $20 billion. BY THE NUMBERS Relatively tight U.S. labor markets https://click.response.cnbc.com/?qs=2e6884e4d01be46e7d9796844088a84bf4abd44f81bca5907ed01b5a4fa41ac7630f481e80b10bf4 may put upward pressure on inflation , St. Louis Fed President James Bullard said today in Singapore. Earlier this week, he said a summer Fed interest rate hike was not set in stone. Meanwhile, Fed Gov. Jerome Powell speaks just after noon ET in Washington. A trio of economic reports this morning could sharpen the case for, or against, a June rate increase by the Fed. The government issues April durable goods and weekly jobless claims at 8:30 a.m. ET, the National Association of Realtors releases April pending home sales at 10 a.m. ET. This afternoon, GameStop (GME), Splunk (SPLK), Palo Alto Networks (PANW), and Ulta Salon (ULTA) are all out with earnings. US Foods (USFD) priced its initial public offering at $23 per share, within the expected range. The food distributor's shares were set to begin trading today on the New York Stock Exchange. New York REIT (NYRT) is merging with JBG Cos., forming a real estate investment trust worth $8.4 billion and focusing on commercial properties in the New York City and Washington, D.C. markets. STOCKS TO WATCH Sears (SHLD) reported a smaller-than-expected adjusted loss of $1.86 per share, while revenue was also better. Same-store sales drops matched estimates. Sears also said it's exploring options for its Kenmore, Craftsman, Diehard, and Home Services businesses.Costco (COST) reported quarterly profit of $1.24 per share, 2 cents above estimates, but revenue fell shy of forecasts and the warehouse retailer's comparable store sales were flat for the first time in more than six years. Williams-Sonoma (WSM) beat estimates by 3 cents with adjusted quarterly profit of 53 cents per share, while revenue was also above estimates. But the housewares retailer warned on current quarter outlook. PVH (PVH) came in 7 cents above estimates with adjusted quarterly profit of $1.50 per share, while revenue also topped forecasts. The apparel company also gave strong earnings guidance for the full year. Lions Gate (LGF) earned a profit of 7 cents per share, surprising analysts who had expected a 2-cent loss. The studio's revenue was also above forecast, with the TV segment helping to offset movies.WATERCOOLER Billionaire Facebook (FB) chief Mark Zuckerberg has bought up four neighboring homes, at the cost of $30 million, j https://click.response.cnbc.com/?qs=2e6884e4d01be46e92fd316d211ac38c95bbad9a98f363dba33bb1b472931e024d6bdb91ef9cd91b ust so that he can demolish them , in a move to prevent prying eyes from peeking into his $7 million Palo Alto residence. (NBC News) CONTRIBUTORS https://click.response.cnbc.com/?qs=2e6884e4d01be46ea79200c48674d1cfa6e9bf6a54e9223738fe3813521baf960292e5c880887d87 https://click.response.cnbc.com/?qs=2e6884e4d01be46ea79200c48674d1cfa6e9bf6a54e9223738fe3813521baf960292e5c880887d87 Matthew J. BelvedereSenior Producer https://click.response.cnbc.com/?qs=2e6884e4d01be46eb04d680ccb0cd83f153527f5ad65c33c9e05494c30f2c71a7d2c8adb43413590 @Matt_Belvedere https://click.response.cnbc.com/?qs=2e6884e4d01be46ebca27757220d4dea4154c7af843d0ce174755303381611265274182b10971165 https://click.response.cnbc.com/?qs=2e6884e4d01be46ebca27757220d4dea4154c7af843d0ce174755303381611265274182b10971165 Peter SchacknowSenior Producer https://click.response.cnbc.com/?qs=2e6884e4d01be46ef6ec22cdefc3a37c194884c9c5da3f173f8f298be3971e86dfd27463d046d061 @peterschack https://click.response.cnbc.com/?qs=2e6884e4d01be46e14b5de94c80fcaa114c12edaa24865f68297ce15312bff8c65e7b299ea0d787a https://click.response.cnbc.com/?qs=2e6884e4d01be46e14b5de94c80fcaa114c12edaa24865f68297ce15312bff8c65e7b299ea0d787a Tom DiChristopherWeb and TV producer Feedback We value your input—use https://click.response.cnbc.com/?qs=2e6884e4d01be46ea842e01a0c846018f2e651d32c3095d0cefe51532dd4c531fcadc9f5d4b8651c our simple form to let us know what you think. 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