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Monday, February 22, 2016

CNBC SQUAWK BOX with Matthew Belvedere & Peter Schacknow - SEPTEMBER 22, 2016



U.S. stock futures as well as markets in Europe and Asia were sharply upthis morning, as oil prices bounced back. The Dow and S&P 500 could turn positive for February — provided they're able to post the kind of gains indicated in premarket trading. (CNBC)

U.S. oil prices were higher this morning, recovering nearly all of Friday'snearly 3.7 percent decline, as the overall rig count among American producers continued to drop. (Reuters) 

The U.S. will lead the world in oil production increases by 2021, in spite of taking the "biggest hit for now," the International Energy Agency said this morning. (CNBC) 

Gasoline prices continued to decline, falling 5 cents in the past two weeks to around $1.77 per gallon, the l owest level in more than seven years, according to the latest Lundberg survey. 

The British pound plummeted the most in six years this morning, after the mayor of London came out in support of a so-called Brexit ahead of June's referendum. (USA Today) 

Meanwhile, the CEOs of about half of the UK's 100 biggest companiesare expected to sign a letter backing Prime Minister David Cameron's fightto keep Britain in the EU. (FT) 

Stocks in Asia finished mostly higher, with Chinese and Japaneseextending last week's advance . China's Shanghai composite gained nearly 2.4 percent overnight, while Japan's Nikkei added almost 1 percent. (CNBC) 

After months of market volatility and quickly retracted circuit breakers that closed Chinese stock trading twice at the beginning of the year, China's top securities regulator finally got the boot over the weekend. (CNBC) 


 
In the government's attempt to force Apple (AAPL) to help unlock the iPhone of one of the San Bernardino shooters, FBI Director James Comey said vital decisions involving safety from terrorists should not be left in the hands of corporations. (NBC News) 

Meanwhile, Apple CEO Tim Cook and the FBI's Comey have been asked to testify on the encryption controversy before a House panel. No date has been set for the proposed hearing. (NY Times) 

Republican Donald Trump and Democrat Hillary Clinton both head intothis week's nominating contests with two out of three wins. With the exit of Jeb Bush over the weekend the GOP field race appears to be a four-candidate race. (CNBC) 

Lumber Liquidators (LL) shares were set for their worst day in six monthstoday, after a revised regulatory report found that wood flooring carries a higher cancer risk. (CNBC)

Bank of America (BAC) is set to roll out a new type of mortgage today to allow for down-payments of as little as 3 percent, in what would represent an end run around of a government agency that punished the bank for making errors on similar loans. (WSJ) 

HSBC (HSBC) today reported full-year earnings that missed expectations. The bank also sees a bumpy financial environment ahead, as it deals with volatile markets, ongoing cost-cutting efforts, and leadership uncertainties. (CNBC) 

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