it is 5:00 a.m. at cnbc global headquarters. here is the top five at 5:00 going for three. stocks trying to rally after the best day since march down but not out wild week for pbig tech is not deterred clients double down for the long haul. a massive media merger at&t may dump tv business and merge with discovery in a deal that is the biggest combination in years middle east tension rising israel running up against

international pressure and calls for a cease-fire as the conflict with hamas is critical new heights. too little, too late thanks, elon musk. trying to calm investor nerves a tweet sent the price of bitcoin tumbling it is monday, may 17th this is "worldwide exchange. good morning, good afternoon or good evening. welcome from wherever in the world you may be watching. i'm brian sullivan happy tax day. reminder today is the new deadline this year to file your taxes, of course pushed back by the lockdowns get the taxes filed. on that happy note, here is how your money and the global markets are setting up the day and week

futures are down a bit off a strong week last week. volume is a little thin. a lot of time this morning let's see what happens fair value on the nasdaq is in the green. the s&p, nasdaq and russell coming off the best rally since march. is it sell in may and go away? not so much. at least for the dow the dow 30 is quietly up 1.5% this month tech and s&p, yeah, slightly down big names, value stocks, cyclicals, are on the rise bond yields are in focus the benchmark 10-year is at 1.616. of course, in the fast and ever changing world of crypto, there is a lot of red on the screen

this morning i'll get to that on elon musk. overall, it has been strong. ethereum is up 32% this month and doubled in the last 90 days. a wild week for bitcoin. $45,286 right now. bitcoin was at $61,000 a couple weeks ago. very, very volatile. we will get more on that coming up in a few minutes. right now, more on your money ahead and on that possible massive media deal that could unwind years of spending by at&t and basically send cnn to the discovery channel. with that and more, here is contessa brewer with the top stories on monday. good morning, tessa. >> reporter: hi, brian are you ready to follow this at&t is in advanced talks to merge warner media to better position the companies

with netflix and disney plus a deal could be announced as soon as today. although talks are not final and a deal could still fall apart. no comment from either company this morning the look at discovery stock up 13%. wells fargo making headlines this morning telling the financial times, u.s. banks stand to cut 200,000 jobs or 10% of the work force over the next ten years as they look to increase profitability and address changing consumer behavior it could be the biggest head count reduction in u.s. banking history with call center and branch jobs most at risk and george soros says it bought up shares of viacom and cbs as it was sold off in the archegos collapse the firm did not hold any positions in the stocks before

the meltdown brian. >> the big news, contessa, all of warner media, wospent years building it up and now cast off to the discovery channel massive. >> a lot of changes in the media space. >> and george soros, apparently, was a buyer. amazing media monday contessa brewer, see you in a few minutes. thank you very much. let's get back to the markets and your money coming off the wild week of the year. early last week, it looked grim. s&p dropped 4% big bold headlines guess what we bounced back starting on thursday back-to-back rallies to end the week and ended up off about 1.5% what exactly is going? why the new found volatility

joining us is michael shelton. michael, thank you for joining us yesterday was all a year in a week, i should say what happened? why the increase in volatile >> good morning, brian what is going on is the markets are on inflation alert massive rallies in copper and steel and lumber across a number of commodities this is the first time in several decades we actually had these issues if you step back a little bit, if you look at financial conditions, we look at a lot of things credit spreads and earnings per share revisions. lei. leading economic indicators coming out this week all of that is supportive right now. we still think we are in the middle cycle of the economic recovery which has several years

to go. we are going through volatility. that will be expected going into the summertime >> you know, i feel like with all due respect to all of the smart members of the fed, they are making alan greenspan easy to understand. we get a comment from somebody in the fed every day and the smartest minds i talk to say we don't know what is going on. nobody has any idea of what transitory means nobody believes it do you think inflation is here to stay? when i say to stay, michael, i mean for the next few years. not forever. >> right now, we are in the powell camp right now. the main reason for that, the powell camp thinks inflation is transitory there are two big reasons for that one, at some point in the next 6 to 12 months, we will hit peak growth and profits once you hit that, we think

inflation will cool down and the economy continues to open up the other thing is we look at the powerful ds. debt, demographics and debt demographics this is a cocktail of policy and fiscal stimulus along with the vaccine. we think the trends will start to reduce themselves as we go through the next several months. >> what do we do what are we buying what are we owning or selling? >> over the past several years, it has been all about technology this year is a broader economic recovery you are seeing more participation across the various

sectors of the market. we are not giving up on technology because you need to have growth in the portfolio we like other things like industrials. we like health care which is out of favor that is our garp, growth at a reasonable price and stocks out of favor are poised to turn around. we feel there is an inflection point with the economic cycle. they should start to improve over the next year or two. >> michael sheldon rdm financial. in the powell camp for now this inflation debate is not going away any time soon take care. thank you. >> thank you. you're welcome how excited are you to get back out? get back on a plane or stadium for live sports? maybe a rock concert it is happening and fast not just here. today in the uk, nearly everything is reopening.

after one of the harshest and hardest lockdowns in the world air travel is back in a big way, but not for the american flyer let's talk about all of this with four team coverage on a new day in the uk. julianna tatelbaum in central london and steve sedgwick wearing some florescent vest at gat gatwick. steve, i know you are on the tarmac and have to wear it talk to us about how travel is really starting to reopen. >> reporter: brian, can you imagine being amid a crowd of the scrum? that is still a long way off you are right in the introduction this is a good day we have travel here at gatwick i have been on the runway. i have seen a couple of planes take off the first plane to portugal. one of the first countries on the green list

it is very limited, the number of countries, on the green list. the amber list is huge most countries in the world. you have to quarantine for ten days what the airline industry wants and what the u.s. airline industry is crying out for is more countries from the amber list with quarantine, to the green list, with no waquarantine pete buttigieg and the transport secretary in the uk are talking about the possible opening of trans atlantic routes. united and american and virgin and british airways are desperate for the trans atlantic routes to open up in meaningful fashion. this is a great day. this is great to be out and about to see people get on planes, sully. >> talk about the 12-country thing. i'm in the states. i want to see you.

maybe i can. maybe i can't. we have our bubble countries now. who is in the bubble and when will they open the bubble or pop the bubble >> reporter: this is the slight problem at the moment. the 12 countries, includes new zealand and australia who won't let us in. you think you can travel to us, we are not letting you in. those are off the list iceland. a great country. i went there during the last financial crisis gibralter. southern tip of spain. portugal the only holiday disty destinan you may know where the falklands are. faroe islands. there are no lists for travelers. that travel is limited this is a trial period there is hope that the spanish

islands will get on the list in three weeks' time, sully >> i don't know when 600 of us will be stuck in a stairwell at opec conference. he looks good with the vest on let's go to julianna tatelbaum, who i'm told, is about to get a cup of espresso? there must be an angle to the story other than your culinary delights, julianna >> reporter: i had two cappuccinos this morning i'm in central london. this is a milestone for the uk steve talked about the resumption of international travel the other thing is the resumption of indoor dining. first time since december of last year we will be able to eat indoors. a huge moment or pubs and

restaurants. the hospitality sector has been hit hard by the pandemic research suggests in the uk, one in ten restaurants has closed permanently since the pandemic began. pubs and restaurants are happy this day arrived it will be a difficult day ahead in profitability tables spaced apart. we are also looking at a maximum of six people per table. maximum of two households per table. by no means, a clear part forward for the hospitality industry we are looking at absence of international tourists at this stage. we will add that looming over today, as much of a milestone it is, there are concerns of rising cases of the variant from india here in the uk will people want to eat indoors? brian. >> i'll close the question right

now, now, julianna, the restaurants will be full probably tonight with vaccinated people they have been told if you are vaccinated, you are safe you are answering the question you have a mask on i imagine you are required to do that most american states, a lot of them are not requiring masks some still are in situations what are the masking requirements you face? what is the uk policy? i'm talking into the ether julianna, if you can hear me, thank you. apparently we lost your feed we will get you back on tomorrow and see how the uk is doing it versus the u.s thank you very much. i guarantee you, if you are in

the uk watching, the restaurants will be full if not, send me the bill don't do that. we are just getting started. when we come back on this busy monday much more on the massive media deal the man who helped break the news alex shermer will join us on that. from ransomware to middle east tensions, will prices continue to move higher? ha will talk about tt. dow futures down 55. we are back with more right after this i got you. ♪ all by yourself. ♪ go with us and get millions of flexible booking options. expedia. it matters who you travel with.

another day, another chance. it could be the day you break the sales record, or the day there's appointments nonstop. with comcast business, you get the network that can deliver gig speeds to the most businesses, and you can get the advanced cybersecurity solutions you need with comcast business securityedge. every day in business is a big day. we'll keep you ready for what's next. get started with a great offer, and ask how you can add comcast business securityedge. plus, for a limited time, ask how to get a $500 prepaid card when you upgrade. call today.

welcome back let's get more on what we were talking about with julianna and the mask guidance spreading around the country and confusing people two more big name stores -- welcome back -- walmart and costco are saying fully vaccinated customers do not need to wear masks in stores unless required by local laws walmart saying fully vaccinate employees can pass on the mask subject to local laws. also updates from starbucks and disney starbucks dropping mask requirements for vaccinated customers started today. staff must keep them on for now. disney making masks optional in common outdoor areas requiring them indoors

changing rules state and local laws a lot of people confused we will bring you up to date on how businesses are evolving with the guidance. up next, how elon musk wiped out tens of billions of dollars for the bitcoin owners how the cryptocurrency world is not happy with it next >> announcer: today's big number $11.1 billion. that's the total u.s. commercial gaming revenue for the first quarter of 2021. according to the american gaming association. matching the highest grossing quarter ever that's up 4% from q1, 2019, as americans returned to casinos and sports bettingoos vee. bst do you have a life insurance policy you no longer need? now you can sell your policy, even a term policy, for an immediate cash payment. we thought we had

planned carefully for our retirement. but we quickly realized that we needed a way to supplement our income. if you have one hundred thousand dollars or more of life insurance you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit conventrydirect.com to find out if you policy qualifies. or call the number on your screen. coventry direct, redefining insurance. in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

wondering what actually goes into your multivitamin? at new chapter, its' innovation, organic ingredients, and fermentation. fermentation? yes. formulated to help you body really truly absorb the natural goodness. new chapter. wellness, well done. welcome or welcome back. we have a big week on tap. here's your calendar for the week we are always on wex and setting you up the housing index. it is on rbi you have housing starts as well on tuesday we wednesday, more earnings from tj maxx and lowe's. on thursday, kohl's and then on

friday, existing home sales and john deere earnings. we're back right after this. ♪ maybe i didn't love you ♪ ( ♪♪ ) ♪ quite as often as i could have ♪ we're delivering for the earth. by investing in more electric vehicles, reusable packaging, and carbon capture research. making earth our priority. i thought i'd seen it all. ( ♪♪ )

in business, it's never just another day. it's the big sale, or the big presentation. i thought i'd seen it all. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7.

every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. sell in may and go away? maybe or maybe not why stocks may be telling two different stories at the same time the deadliest day in years with fighting with israel and

hamas over the weekend we will give you the latest. rachel, ross, animal plane at&t and discovery may merge we will tell you about it. it is monday, may 17th, 2021 this is "worldwide exchange. w welcome back 5:27 on the east coast that would be a big, big deal if it happens i'll get more on it in a minute. for now, here is how the money and markets are looking as we are just about halfway through the 5:00 a.m. hour futures are down very, very little the nasdaq is higher we will not call it flat, but it's close don't look now the nasdaq is on a four-week losing streak. that's right the first time that has happened

for the first time in nearly two years. even going back to the full-time pandemic last year last week, crazy volatility. if you sort of checked out and didn't pay attention, i don't blame you. a big drop on monday on the nasdaq 350. the dow, not a lot nasdaq, big number tuesday, we caught our breath down 12 points another down day on wednesday. thursday, started weak came back in the afternoon a huge pop on friday if you are not good at math at this hour, we did end the week down, but a comeback and momentum to end the week as well totaling up, nasdaq down more than 2% on the week. something to watch let's talk more about this and where you really want to be in technology joining us is dan ives

manager director at webb bush securities now with a new note on what we want to own. dan, it is great to have you on right now. there's a lot of confusion if you own the qqq, you are getting companies and stocks you don't want to own as work from home fades away. where do we want to be invested right now? >> brian, i think you can paint this with the same brush you attack with cloud and cybersecurity that will see acceleration those are areas we are hand holding investors to double down on here. we continue to be bullish in the multiyear thesis in tech some of the sub sectors with cybersecurity and cloud and golden buying opportunities despite the white knuckles in our opinion. >> all right you call it the white knuckle trade. it is like bitcoin hold on for dear life in certain

parts. you think the biggest of the big names. apples of the world and microsofts i know they are big and boring in ways. you believe that is where you want to be invested in tech? >> i have done 20 plus years covering tech. we have never seen these trends today. microsoft. the core cloud play is continuing to be named where numbers go higher with the $300 plus stock i look at apple. this is not just in the service business, but the elongated super cycle as it plays out. the haters are hating. skeptics are out thinking and looking in the rearvie-view mirr you put this in a bow. you cannot think of the names compressing inflation. there are sub sectors and names

and you look back and think this is the golden opportunity to own the sector winners >> really? who are they aside from the big names and cap s, you mentioned who else >> i love names like cybersecurity play look at what is happening with colonial and solar winds i look at cloud. names like pega. these are garp names i think this is a basket that continues to be the way to play this you want the high multiple names. there are other names that continue to go higher as well as m & a. strategic and financial across software >> and maybe in media given our top story. names you like stay with the big cap.

dan ives, thank you for coming on >> thanks, buddy now, let's get to the other top headlines. including the big potential change for twitter and more headlines around the bill gates saga contessa brewer is back with that >> reporter: brian, the wall street journal reporting that microsoft's board of directors in 2020 decided that bill gates should step down as they looked into prior romantic relationship with a female employee that was deemed inappropriate he resigned from the role before the board could take action and the investigation was complete the affair ended amcably nearly 20 years ago and his position with the board was no ret relat to the matter. and elon musk says his company has not sold off bitcoin

position after he implied on twitter on sunday that tesla did sell the holdings. this sent the assets from bitcoin to dogecoin sinking. down almost 1% that's a rough ride if you are into cryptocurrency. the upcoming twitter subscription service will be called twitter blue. the company has tested new features like undoing tweets and ad-free scrolling. shares are down .50% in extended trading. undo tweets, brian can you imagine how much can be avoided with undo tweet? >> isn't that also called delete tweet? what is the difference between undo and delete? it's a real question i don't know >> reporter: i don't know. here is what is the advantage.

if you can undo your tweet and undo it from where it was retweeted, which previously didn't happen if somebody else saw it and captured it you were lost. i think there is a way to do it. edit tweet you cannot re-edit. >> the fact they don't have an edit button. you end up with the wrong word by accident because you are yelling at the kids on the side. that's ridiculous. everybody can screen shot anything any way >> reporter: we're having coffee together >> look at you with the yeti look at us how fancy we are with the two yetis. we put our pinky in the air. contessa brewer, thank you >> have a good morning >> it does -- not a commercial for yeti

it does keep it warm. to a serious story israel hit gaza with a new heavy round of air strikes late yesterday. the intense air attacks follow the deadliest day yesterday in the violence with israel and hamas. more than 40 palestinians were killed on sunday as israel continues to target sites in gaza hamas continuing its rocket attacks on israel. nbc's richard engel reports from tel aviv >> reporter: israeli air strikes flattened three apartment buildings in gaza city there aren't rescue crews to speak of in gaza so when the poorly-equipped teams arrived, they had to dig for survivors. they pulled dozens out of the rubble they found more than 40 dead, including, two dozen women and children according to muslim tradition,

they were buried almost immediately. this funeral for 17 members of a single family. this girl is just 10 years old >> a lot of people who died here not only here. out there in places in gaza and palestine. kids are dying mothers crying for their kids who died kids can crying every time because their parents died >> reporter: israel said it was attacking hamas military structure beneath the road near the buildings which caused them to collapse and led to unintended casualties. israel says they are destroying tunnels and targeting the hamas group leaders. the rockets, more than 3,000 this week, are still flying. hamas said these were revenge for the death of women and children south of tel aviv, this student showed me her apartment hit by a

rocket that slipped through israel missile defense system. >> heavy metal door. >> reporter: air raid sirens gave her 40 seconds to run to the reinforced room in the home. a requirement in homes. >> please, please, please nobody get hurt >> reporter: it is not just rockets. israeli police said a palestinian rammed into a checkpoint injuring four police officers the attacker was shot dead in israel, many support the military campaign as self defense. in gaza, many support the rocket attacks for the same reason. a cycle of violence that risks furthest eveng engel, nbc news aviv. thank you, richard

y you have other tensions in the middle east and the lasting impact from the colonial outage here at home and the production cuts continue to decline in the united states. no money going in to new fields. to tie it all together and bring in the directing manager of oil is clay segal. there is a lot of pain on both sides as well. what does that and everything else that has gone on as well? i mentioned yemen and saudi arabia and uae reaching out to israel as well what does this mean for prices and storage and inventory? >> thank you, brian. thanks for having me i think we have to be concerned about the proliferation of the attacks of oil assets and gas assets under fire. now what you saw last week was actually deliberate targeting of assets in israel

the first was an oil storage tank that was hit by a hamas rocket and burned. then offshore, the gas platform. it is a good thing the energy ministry ordered chevron to take that platform down as a preemptive measure and drain the fuel because sure enough, it came under attack. both by rockets and some kind of unmanned vehicle that may have been carrying an explosive pay load it is interesting. normally when the arab-israeli conflicts flare up from time to time, oil and gas is not pulled into the fray. to see two assets targeted in the space of the week is concerning >> we learned about inventory and talked about them with shown ya'l colonial pipeline. i imagine we drained a lot of

products not just refined with gasoline and oil. you track offshore storage and ships. ships are starting to move around the world where do we stand with inventory as you see them? >> inventories are plentiful around the world what we saw last week in response to the colonial pipeline episode was an efficient response by industry and government in the gulf coast, refineries reduced crude runs to help oversupply of gasoline getting stuck in the wrong region. we increased crude and gasoline exports down here. crude exports up to 3 million barrels per day last week by our count which cleared out the crowd market with the increase the transportation, we have the pipeline from the gulf coast to the southeast markets plantation which was used to deliver products to the disrupted areas. you have the federal government coming in with the target

waivers of the rule that prevents foreign-owned tankers from moving product between u.s. ports. it was a balanced response that alleviated the market concern. >> you know, we talk about inventory levels, clay you see the path of least r resistance for oil demand as it is coming back around the country. investments in oil is not there or are we headed back to the mid-40s? >> you said the pace of the oil price recovery is dependent on the pandemic response and how fast consumers and businesses get back to work we were seeing that in the last segment in london with restrictions easing. things are getting better here and people are getting back to work and moving back to the office it is probably bullish for oil prices from here >> how is traffic in houston how is the 610

>> i have to tell you, traffic in houston, as usual, is stagnant if you and steve are going back to vienna, please save a space for me i'm ready to go. >> we will meet again in vienna. hopefully at the december meeting. clay, thank you very much. look forward to seeing you there or houston houston is closer. >> thanks, brian. you're welcome the big money movers are we on deck for what would be the biggest media deal in decades and basically completely unwind the entire legacy of the previous at&t ceo? who, by the way, made tens of billions of dollars. we're back after this. dow futures are off 80 (it's a skirt... and shorts) the world is going hybrid.

so, why not your cloud? a hybrid cloud with ibm helps bring all your clouds together. that means you can access all your data, modernize without rebuilding, and help keep things both open and secure. that's why businesses from retail to banking are going hybrid with the technology and expertise of ibm. wondering what actually goes into your multivitamin? at new chapter, its' innovation, organic ingredients, and fermentation. fermentation? yes. formulated to help you body really truly absorb the natural goodness. new chapter. wellness, well done. everyone wakes up every morning to a world that must keep turning. the world can't stop, so neither can we. because the things we make, help make the world go round. they make it cleaner, healthier, and more connected. it's what we build that keeps things moving forward.

so with every turn, we'll keep building a world that works.

normally i give you three big money movers, but today i'll give you one at&t reportedly close to a deal to combine media assets like hbo and cnn with discovery channel unwind years of building up that business in what is a complete reversal of strategy welcome in alex sherman. great work, alex

busting your hump on a sunday night to bring us details. what can you tell us right now how likely is this deal? >> it is very likely it is going to happen soon potentially within the next hour cnbc should stay tuned for the details. you mentioned it was the biggest deal in a decade the last time a deal like this happened, it was at&t buying time warner. that deal was for $85 billion in equity the deal before that in the sector that was arguably, at least one of the largest, at&t buying directv which was $60 billion in debt in 2014. both transactions have been unwound by at&t ceo john stankey. he was instrumental in buying both of the businesses it was a remarkable aboutface.

>> john stankey was not the ceo at the time. i want to make it clear to the viewers. at&t spent yearsracking up hug debt and randall stevenson pmade tens of billions of dollars. in less than a year, his former number two, the ceo, saying we will unwind all of that. everything you spent doing, former ceo, we will undo while everyone internally made t tens of millions i'm all forg getting paid. the reversal in the stratosphere, alex, is shocking. >> it will be interesting to hear from john stankey in the days to come about why he decided now is the right time to do this and also about why at&t bought time warner initially if you go back a few years, i wrote a story about this in

december listen to what randall stevenson said a bunch of word salad that never panned out the content and mobility and making the new thing to enhance both none of that panned out. john stankey realized that there is no reason for a phone company to own your content company. we will see, however, if there is more nuance to that later today. >> yeah. by the way, five years ago, at&t was a $40 stock. today it is a $32 stock looking at my cnbc.com all of that money and debt they built up and years of this is going to work out. enriching themselves mightily and now unwinding. enough on that, alex how about the other side why does discovery want this rachel and ross? >> right look, it is a coup for david

zaslav that is what this is all about from the discovery side and warner media side. not at&t side. how do we put forces together to better compete against netflix and amazon prime and disney and the other forces that are out there which are going direct-to-consumer to compete for your dollar. the thinking is we have hbo and the new original content let's combine it with the hbo strategy hbo and so much more is so much more >> well, we have to go alex, why does it seem like every giant media deal somehow involves time or time warner something with time or warner? >> the gift that keeps on giving 20 years and counting. >> it just keeps getting moved around alex sherman, great reporting there on a potential deal to break within the hour.

massive stuff there. at&t will be a phone company again. alex, thank you very much. all right. huge deal. we head to break reminder that may is asian-american and pacific islan islander heritage month. we are highlighting our friends. here is out own eunice yoon. >> growing up, i remember my mom thinking of finances as tuition and school fees. asian culture is a key to success and more in the asian-american community where people are cut off from business relationships when moving to the united states. the intense education and work ethic and success shaped who i am today just over a year ago, i was drowning in credit card debt. sofi helped me pay off twenty-three thousand dollars

of credit card debt. they helped me consolidate all of that into one low monthly payment. they make you feel like it's an honor for them to help you out. i went from sleepless nights to getting my money right. so thank you. ♪ ♪ to make progress, we must keep taking steps forward. we believe the future of energy is lower carbon. and to get there, the world needs to reduce global emissions. at chevron, we're taking action. tying our executives' pay to lowering the carbon emissions intensity of our operations. it's tempting to see how far we've come. but it's only human... to know how far we have to go. woo! you are busy... working, parenting, problem solving. but it's only human... at new chapter vitamins we've been busy too...

innovating, sourcing organic ingredients, testing them and fermenting. fermenting? yeah like kombucha or yogurt. and we formulate everything so your body can really truly absorb the natural goodness. that's what we do, so you can do you. new chapter wellness, well done. ♪ when i was young ♪ no-no-no-no-no please please no. ♪ i never needed anyone. ♪ front desk. yes, hello... i'm so... please hold. ♪ those days are done. ♪ i got you. ♪ all by yourself. ♪ go with us and find millions of flexible options. all in our app. expedia. it matters who you travel with. time for the morning rbi

the random but interesting thing has to do with housing we get an important reading on housing later this morning the nahbb housing market index whatever the name, housing has never been hotter. that is not tv hyperbole look at the 30-year chart of the index. we had a big few months in 1998. boom look at that we had another good-round in the go-go days of 2005 look at that neither of those readings are anywhere close to where we are right now. listen to this today, housing index is expected with a reading above 80. meaning very strong. if it does, it would be the tenth month in a row we have seen a number above 80. here is the rbi on that. ten months in a row above 80 is two months more than any other reading above 80 in history

combined only eight other months in total in 30 years above 80 now we are looking at potentially ten in a row housing is not hot it's whatever word above hot you would like to use. random, but interesting. maybe expensive. let's get back to the markets. joining us is bowersock founder emily bowersock. emily, i know you are a fan of certain, not all, real estate investment trust what is your overall view on real estate? >> overall, the long-term, i think publicly are going to get the best return opportunities in the next five years. i question why the fed is seeing the housing crunch and buying

$40 billion a month in mortgage-backed securities i hope they know what they're doing. >> emily, we all do. you were quoted in barron's. perfect time i'm flipping through and she's in it. she's on the show tomorrow now is the time to take profits and rebalance portfolio. you are saying sell certain things raise money and put it elsewhere. where? >> yes i like boring large cap value stocks especially boring large cap international value you stocks the last time you and i talked, i think there is a bubble that is forming if it is not already formed in the exciting tech growth stories yes, time to make your portfolio less exciting. >> listen, boring is great if

you are not losing money that is the opposite of boring it is scary. what looks solid it sounds like you are calling for voluatilityvolatility. where is the safe haven, if you will, which is an oxymoron safe haven. >> in addition to global, infrastructure companies companies running toll roads, airports, construction these are companies that are potentially slow growing, but they have the ability to increase prices when needed. so we're talking about the large cap value, midcap value part of the market especially companies outside the u.s. that are going to give you exposure to currencies and non-dollar currencies. >> and maybe also the recipients

of tens or hundreds of billions of dollars in the global push for infrastructure spending. just per chance to dream emily bowersock. thank you for coming on. we'll see you soon thank you. with that, we wrap up on "worldwide exchange. dow futures up 72. the big day in media mergers stquawk box" is up next. ju a reminder, download our podcast if you haven't already take care. visibl nish wrinkled skin in... crepe corrector lotion... only from gold bond.

another day, another chance. it could be the day you break the sales record, or the day there's appointments nonstop. with comcast business, you get the network that can deliver gig speeds to the most businesses, and you can get the advanced cybersecurity solutions you need with comcast business securityedge. every day in business is a big day. we'll keep you ready for what's next. get started with a great offer, and ask how you can add comcast business securityedge. plus, for a limited time, ask how to get a $500

prepaid card when you upgrade. call today. good morning stock futures are under pressure after the best day since march on friday. big deal talks at&t may dump its tv business and merge with discovery the deal may be the biggest in years. plus, a wild ride from

bitcoin. elon musk with a tweet tanking the cryptocurrency yesterday it recovered after he tweeted a clarification. it is monday it comes quick, don't they fridays go fast. it is monday, may 17th, 2021 "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc i'm becky quick along with joe kernen and andrew ross sorkin. it was a week to watch in the markets. we are still talking about last week friday, much better than the week started or tuesday and wednesday with the selloff friday was strong across the board. dow up 1%. the s&p was up 1.5%. the nasdaq up 2.3% for the