CNBC MORNING SQUAWK - MAY 4, 2018

CONTRIBUTORS Berkeley Lovelace Jr. News Associate @BerkeleyJr Peter Schacknow Senior Producer @peterschack The Dow, S&P 500 and Nasdaq are on track for a second straight week of declines heading into today's trading. Dow Jones Fut 23,930.15 Current: 23,874.00 Change: -36.00 Impl. Open: 1.85 S&P 500 Fut 2,629.73 Current: 2,626.75 Change: -5.00 Impl. Open: -0.33 NASDAQ 100 Fut 6,643.48 Current: 6,652.25 Change: -12.25 Impl. Open: 8.77 Russell 2000 Mini 1,546.56 Current: 1,548.30 Change: -2.90 Impl. Open: 2.04 Quotes as of 5/4/2018 7:43:18 AM ET IN THE NEWS TODAY The U.S. stands ready to impose further trade tariffs on China if Beijing walks away from agreed-upon commitments, according to the Wall Street Journal. The journal said the U.S. asked China to reduce its trade surplus by $200 billion by year-end 2020. •  Cramer on trade: China could wait out Trump's presidency to make a trade deal—that's bad for stocks (CNBC) CNBC has learned that special counsel Robert Mueller is focusing intensely onalleged interactions between former top Trump campaign official Rick Gates and political operative Roger Stone, one of President Donald Trump's closest confidants.  Iran's foreign minister said the Trump administration's demands to change its nuclear agreement with world powers were unacceptable. Trump must decide to withdraw from the accord by the end of next week. (Reuters) Residents in two subdivisions of Hawaii were forced to evacuate after the eruption of lava from the Kilauea volcano. There have been no deaths or injuries reported. The area had several small earthquakes in recent days. (NY Times) The 2018 Nobel Prize in Literature will be awarded in 2019 instead of this year. The move came after the academy that selects the winner was engulfed in a sex abuse scandal. Six academy members have stepped down over the crisis. (USA Today) The Department of Agriculture recalled more than 35,000 pounds of raw ground beef from Kroger stores. The recall came after a reported complaint from a consumer of hard plastic pieces found in one of the products. (Axios) Twitter (TWTR) has urged its users to change their passwords, after a glitch in its internal computer system caused some passwords to be readable. The social media company also said it saw no evidence of a breach or misuse. (CNBC) Consensus forecasts for the Labor Department's April jobs report call for 195,000 new non-farm jobs for April, compared with 103,000 in March, with the unemployment rate falling to 4.0 percent from the prior 4.1 percent. (CNBC) THOSE OF YOU WHO LIVE IN MILWAUKEE SHOULD KNOW THIS IS "MISLEADING" FOR THE 98.63 SQUARE MILES OF MILWAUKEE.  Call TOM BARRETT & 15 COUNCILPERSONS - YOURS AND OTHERS - Ask for their "UNEMPLOYMENT" FOR THEIR DISTRICT.  Apple (AAPL) stock could get a boost after Berkshire Hathaway's (BRKB) Warren Buffett told CNBC that Berkshire bought 75 million Apple shares during the first quarter, bringing its total holdings to 240.3 million shares. Berkshire will release its quarterly numbers after the bell today, ahead of its annual meeting this weekend. •  Buffett: Obsessing over iPhone X sales in the near term 'totally misses the point' on Apple's stock (CNBC) Investors will be keeping watch on Stanford University's Annual Monetary Conference, where CNBC's Steve Liesman will be speaking with San Francisco Fed President John Williams and Dallas Fed President Rob Kaplan.