homebuilder confidence unexpectedly falling to what it all means for the big retailers. we will look ahead to earnings out this week. >> a deadly shootout in waco, texas. what will the chain do now? we will discuss. mark: he is known as one of the core four yankees. on his career, playing in new york, and the lessons he learned. ♪ mark: good afternoon. im mark crumpton mark crumpton here with scarlet fu. stocks have settled on a move higher since 11:00 a.m. you consider gains at a quarter of 1%.

treasuries are falling for the first time in three days, mirroring declines in bonds. rebounding dollar from a four-month low, up the most in five weeks. we have got a lot of data, housing starts, existing home sales. look at toptake a stories crossing the bloomberg terminal at this hour. greece is running out of time greece is running out of time and cash. it remains defiant. the government says it will not back down on pledges to and austerity but it is still trying to reach a deal with creditors so it can avert default. a discussion of the greek crisis at this week's european union sonnet -- summit. scarlet: buying pharmaceuticals for about $8 billion. it is owned by an investment firm and in women's apparel, a retail group is buying and --

incorporated. 1% premium over the last , the- federal regulators highway traffic safety administration requesting more documents containing how to channel a recall. the agency has been frustrated by the company passes recalls as well as efforts to reach affected consumers. the latest action covers 20 recalls, including repairs on field tanks. mark: charles evans is in no rush to raise interest rates. inflation is still way below the fed's target, so rates should stay near zero for the time being. the'ss: based on forecasts, think the market committee should refrain from raising the federal funds rate aired our conditional short-term interest-rate, on till there is greater confidence that

inflation one or two years ahead will be at our 2% inflation target. i see no compelling reason for us to be in a hurry to tighten financial conditions until then. said it would raise the benchmark interest rate when it sees improvement in the labor market and when it is confident inflation will rise to 2%. scarlet: a new sign the residential real estate market needs more time to gain momentum, confidence unexpectedly dropped in may amongst homebuilders according to the national association of homebuilders. also, slower buyer traffic. mark: the only u.s. states were you cannot pump your own gas are trying to lose that the station. lawmakers in new jersey will consider a bill that will give drivers the option of self-serve or full service at gas stations. organ lawmakers passed a measure to have self-service gas in rural areas. that service five

decades ago due to safety concerns. scarlet: surging and just in time for the peak driving season. memorial day just around the corner. a gallon of regular, the national average is now at $2.80. lowerrice is still $.93 than the same time a year ago. pressing charges against nearly two dozen suspects after a deadly shootout in rival motorcycle gangs. nine people died and 18 were wounded in the chaos. the violence erupted at the twin peaks restaurant. >> they potentially could be looking at capital murder charges. i do not know. it is up to the detectives in the county to determine. at this point, we are bringing 190 two of them in for engaging in criminal activity. the restaurant that hosted

that will be closed for at least a week. andlet: train derailed filled off you, claiming it could have been avoided. the first time amtrak has traveled that route since last tuesday's crash. the fbi is investigating as well. reports that something hit the windshield moments before the derailing. mark: a mixed ruling for apple in its first patent infringement case over mobile phones. samsung did infringe apple's pen designs but did not file it apple's trade -- the judgment against samsung that apple one in 2012 must be reduced -- scarlet: carl icahn want the company to boost share buyback. the billionaire activist investor said he thinks apple -- apple shares are worth $230 million today, 50% of last close. -- two newthinks

markets, television and cars. months toss apple for bring more cash to shareholders. coming up, new jersey drivers reach for the gas. details on the bill that could left the ban. it might mean you have to pump your own gas. night's madman finale. impacted made on the advertising industry. , weapons ofn peaks mass distraction. last year, america's fastest-growing train -- chain. home depot earnings coming out my morning. low on wednesday and existing home sales on thursday. scarlet: an unexpected drop in the month of may.

he covers retailers like home depot and lowe's. also reporting this week as well. first, let's talk about the tailwind from lower gas prices. prices. have you seen it crop up in the retailer's results? >> one place you really see it is restaurants. or maybe it is going toward higher health care bills. remember last year, when people were taking on a bigger payment. a lot of areas were dollars were going that could have taken up some of that. by that?urprised a lot of people are saying you have this extra money, you basically have a free tax rebate if you will. you do not have to pay as much filling of your car. >> let's wait and see what walmart says tomorrow. they have a better than it is dated quarter four comp. probably the biggest beneficiary of that.

i think we will see some of it tomorrow, but clearly, outside of restaurants, we have not seen it. what about the linkage between the housing data and home depot and lowes? is there a simple cause and effect? between data on macro housing versus what you actually see at the cash register? about the linkage between the>> doing the analysie to be wrong on the two stocks here they have been doing a better job than the housing data with digest. we will see how it continues. my issue has been not even so much that the numbers would get worse, but they are expensive stocks, and i think it is hard to argue we are not later in the cycle. i guess people do argue that and it comes down to where people think we are in the cycle. it is not looking so lost when you compare it to the sector? >> it will. they are operating well.

operating as well as any retailer out there. better thanerating they have in the past. if you look at any historical data, these companies are expensive. are: so the companies expensive but is it incorrect of --to assume there is still on how the housing market is going in the united states? >> they tend to be lacking in the housing market. home sales, give -- on how the housing market is going in the united states? or take, but 4.5 million. you have new home cell. you're talking about $5 million. maybe 5.5 million. the numbers have not changed much. i do not think they will. i do not think it is a great market. you have got prices rising. there is a lot of push and take here. it is an ok market. there is always a lot of hope.

righto not have much hope now probably based on what they are seeing in april. i think it will be fine. it is one area that has helped them. they do a much better job. a lot of the stores are not very specific to what you would typically think of buying online. a lot of it is very project focused for saturday and sunday. you need to get a couple of things all at once. the health of the people inside the store, being able to have people help you with your projects, have mattered. a lot of it is regular type stuff here it do not think you will sell a lot of wood and stuff like that online. definitely not included in prime. they did a great job. embracing the internet are there probably the two least impacted. that sought very early on. i have these conversations with them seven or eight years ago about -- particularly home depot

back then. mark: talking about the fed interest rate. how does that change the dynamic for the housing market? >> like you are saying, the multiples, i do not think they owned the stocks. usually what happens is the rates are going up just when the retails are doing well. that is usually what happens. all right. david, always good to see you. thank you so much. scarlet: still ahead, new jersey drivers may be in for a change at the pump. how lifting bans could cost the state more money. ♪

decidedly changed today after we got those headlines out around apple. carl icahn ready an open letter to tim cook saying we like you to return to more capital shareholders.

carl icahn says that apple worth $240 million. one of the other groups doing particularly well today helping to support stocks overall, health care leading the gains today. i want you to see prices down for the first time in three days. similar movement over in europe in anticipation in the greek situation. the dollar having the best day since april 9. jumping from a four-month low. we had a losing streak for the dollar.

a lot of data coming out here in the united states. and the latest from the federal reserve. mark: another republican candidate, lindsey graham says he will officially announce on june 1, running for president obama's's foreign policy. he says he has been more right than wrong on foreign policy and is running because he thinks the world is falling apart. scarlet: as you know, intel is looking for growth.

mark: the lobbying group airlines for america's says u.s. carriers will fly to hundred million passengers from june to august, a 4.5% increase from a year ago, and it would beat the record set in 2007. those are your top stories this hour. scarlet: stay lawmakers working to change that. two state senators crossing the mark introducing legislation --t gives the option to sell to self-service. ago banned that 50 years because of safety concerns. interestingly, you can pump your own diesel, just not gasoline. have this conversation earlier. i said the last time i was driving, i saw someone at the pump and they must've had a gold

mercedes running on diesel. i thought it was odd. scarlet: truck drivers can do it, but you do not necessarily want senior citizens pumping their own gas. i love it because not only is there someone to fill up your gas, but the gas prices are so much lower than in new york. why are some people for or against this? scarlet: the argument is you actually create jobs or preserve jobs. ,whythe gas station attendants outside a plexiglass -- a plexiglass, the bulletproof chamber. ago, the reason why they put the laws into effect was so that people would not be -- gasoline improperly. there was also a concern people would drive away without paying for it we know that is not

possible these days. in new jersey is among the cheapest in the country. south carolina is the cheapest but new jersey is certainly there. you do not want to be in california having to drive a lot and fill up your gas tank. if you are driving in new jersey and you see scarlet fu at a gas station -- scarlet: i will be driving a diesel. mark: mad men came to an end last night but the impact is still being felt by the advertising industry. that story is next. ♪

scarlet: mad men finally has come to an end. andrew robinson, the president of a worldwide advertising agency spoke this morning about the effect of advertising and how mad men affected the industry. one thing it made us understand is the creativity. >> emotion is what drives behavior. there was a guy called peter who did a survey, big study in the u.k. on the brands that had one effectiveness awards.

and looked to see if they also one creative awards to see there was a correlation and there was. he also noted that brands that use of emotional advertising tended to have disproportionately high effects, whether you looked at the prophet, the this is world metrix. scarlet: an emotional, it is super sexy and totally upsetting to her that is what we know don and totally upsetting to her that is what we know don draco four. -- for. >> right. homere a lot more like simpson. our behaviors are driven much more by permitted -- primitive urges than anything thinking things through rationally. a lot of work has been done on this. two molecules get stimulated that really matter. molecule ofine, the confidence, of lust, the thrills

and spills, you get buckets of it if you take cocaine and little squirts of it you get three fruits lined up in a game of candy crash. highly addictive molecule. if you could stimulate the production of that and attach it to a brand, that will drive behavior. oxycodone -- is oxytocin. the molecule of love, belonging, security, and trust. if you could stimulate the production of that multiple -- molecule and attach it to a particular brand, the next time brand, iter sees that triggers a retrieval of the wonderful feeling and they react. scarlet: that was andrew robinson. as you are noting, he is reddish. mark: yes. the perspective he brings is a unique one, especially dopamine

and everything that i'm trying to remember if there has been a tv advertisement i saw that really caught my attention like that. sitting here thinking, i like the booking.com ads because they are funny and it is something you could relate to if you travel or go to a hotel room. you walk into the door in the is, oh no, you say or you say, nice, i did a good job. scarlet: the difference in the commercials on a show like madmen or a drama versus those for sporting events. when you watch a sports game, the commercials they have on is victoria's secret model and a talking horse, linked up to direct tv or dish tv. i guess it does not matter. male either that or a potency advertisement and then you have to ask wayne to your children what that is about. it is very uncomfortable but

interesting how, depending on sports or fashion, how advertising, especially in the age of mobile, how it is changing the dynamic and how we think. my time is up. you are a wonderful human being. scarlet: we have got much more coming up. a deadly biker shootout at a restaurant in waco, texas. we have all the details next. ♪

scarlet: running out of cash and time come it will not back off on pledges but is still trying to reach a deal with creditors as early as this week. it plans to force a discussion crisis in latvia. carl icahn once apple to boost its share buyback. he says he thinks apple's shares 58 percent240 today, above the apple close. television and cars. for months now to return more cash to shareholders. some deal news to report here. the price tag, $8 billion. owned by an investment firm.

two point $1 billion represents a 21% premium to friday's closing price. police in texas are pressing charges against almost 200 suspects following a deadly shootout between rival motorcycle gangs. 18 were wounded in sunday's chaos. it erupted at a popular biker hangout. cliff they potentially could be looking at capital murder charges. i do not know. tois up to detectives determine that. men forosting 192 engaging in organized criminal activity. will be closed for at least a week. passengers on the ill-fated are now suing the company claiming the fatal accident could have been avoided. amtrak trains are rolling once again today between philadelphia and new york, the first time

amtrak has travel -- has traveled that route. something hit the train's's windshield moments before it derailed. latest topour headlines. coming up, it will leave her -- either push higher or plunge. a great note from goldman sachs on some of this in the gas industry. of thehe country a taste delightful phenomenon we call road rage. how that company is handling that. more now on the top story we just told you about. lot inurant parking waco, texas. several rival motorcycle gangs outside twin peaks.

how does the national chain respond now? what is the story? devon has written about this and he joins me now. the response from the company has been swift but cursory, to shut down the one restaurant. crisis company was founded by a couple of guys in dallas who thought america needed a chain that were racier than hooters. what we have here is more racy than they expected. nine people dead, almost 200 people arrested. would hold the contractor way from the franchisee in waco who ran the restaurant. incredible and i cannot believe it. there is a fundamental tension in the business model. they clearly appeal to a certain

kind of guy and make sure the presentation and the service pay homage to that. >> yes. the business model is basically, serve better food, better beer than hooters, and show more skin .f the girls essentially, you fill the restaurants full of guys. they are getting hit on constantly. the whole thing is combustible. and you track 200 bikers, these are not that big. they're packed with bikers. it almost seemed like what happened was inevitable. there is tension between twin peaks and hooters. >> there was a rush from people from hooters who thought this was a better business model, to be racier. they make fun of hooters for being a family chain and sort of covering up the waitresses.

they might think of going in that direction right now. --will take more than just to get this behind them. it is really amazing. scarlet: you spoke with the ceo, randy dewitt. when randy was not around, what did they tell you about working there? liked it andey said they they were making money. they used to work and hooters and there were a lot of families with kids and they did not tip as well and all of that. i spoke with a woman who used to work there. she told me she thought it was very sexist and she was treated badly. not by the management but the clientele. it is a 10-year-old chain. of from about 45 last year. owned, they're mostly

but yeah. the company could say that was one restaurant and it is a bad apple. cliff avril they were worried things were out of control there. again, they can get rid of and whatese franchises preventing this, -- it is appalling. scarlet: thank you so much. you can read this story on bloomberg.com published in september and in terms of predicting things, let's just say hooters was just not racy enough and maybe they got more than they bargained for. coming up, oil is a make it or break it point today. we will be right back. ♪

scarlet: welcome back. we are looking at wti, lower 4/10 of 1%. that $59 price range. we cannot move out of it. >> we got a note from goldman sachs out, that is when it moved the market here. around $55 per barrel at 2020 and it is below the current many markets are not

pricing in that kind of weakness in the market. in the near term, looking at $65. , basically what producers have to have in order to make money has actually fallen to 50 as basically these producers in the u.s. just get better at what they do. they control faster. fallencut costs but not in the y they were cutting costs, but literally adjust costs less and the technology is improving. they are saying productivity can increase five to 10% per year, meaning even if the rays are falling off, it could produce more. i wonder if at some point you do not get the return back because you cut it down to the bare minimum. >> they are spending less, but it is not that in each rake they

are spending one dollar versus $10. each says you could get more out it is falling, you can get more than what they do have. scarlet: we have talked about how it is surprising there is not more dealmaking. m&a fire$80 billion of power. they highlight exxon is one of the best, that they will actually be able to grow their dividends. m&a targets they think might be good, like eog resources, oil and gas, so they are definitely starting to look at the players that have a lot of productivity,

and the total time to deliver now 10.4 days in the fourth quarter, versus 12 days all of last year. scarlet:scarlet: it could happet has not yet. you wonder if oil prices need to follow again. rate the lows and based on the oil price. if they are real rate in the fall poorly, i will loan you two dollars now, that is what potential you are hearing for these guys that have a lot of debt. thank you so much and you will be back in about 20 minutes joining us for conversation. i think it is pretty much a guarantee. you the look at top stories in the meantime at this

hour. we will start with european , a complaint against mastercard. has to dolearned this with credit cards. the way credit card companies agree on charges is anti-competitive, they have warned. alibaba rejected claims it makes it easier to have counterfeit goods -- counterfeit goods. a similar complaint last chair .as withdrawn deflategate has apparently taken the air out of value. -- polling found out plunged, the new england patriots cornerback is just 3027 in an appeal. , brady had right earliest seventh after being

named the most valuable player in the super bowl. it income bys made brady in 2014. those are your latest top stories. general motors is now putting its foot on the gas pedal. the automaker just unveiled its most powerful car yet, the 2015 camero and matt miller got a chance to take a spin in the new wheels. is the all-new sixth generation chevy camaro. >> this car is far superior than any coronary arena. matt: only one other car really matters. they want to beat the mustang. >> i do not have any doubt. >> i think we will and that is the goal. >> the mustang has gotten a big head start since launching its sixth generation more than a year ago with top-of-the-line

camero, a whopping 450 five horsepower. 20 more ponies in the mustang gt and dangerously close to the corvette stingray. >> when we do a camero after we , we will docorvette the best camero we could possibly do. when we do a corvette, we will do the best we could possibly do. >> they make at least eight cars in the segment, why it is winning in the higher-margin market with 28% shares. market with 28% shares. >> our portfolio technologies developed around this track and the car racing improves it. it is an important part of the dna. >> whatever the reason, gearheads like me were doris -- rejoice. >> oh my gosh. that definitely leaves you wanting more. >> joining me now is matt miller. when did you do this? >> over the weekend.

i had a great exclusive interview with the ceo, a diehard khmer you fan for her whole life. yesterday, i went to the track where they do indycar races and that -- testify testdrive that. it was fantastic. tight handling. fantastically responsive breaks and more power than the previous generation. a lot of people say it looks exactly like generation five, the new generation six. in person, is differentiated. they hope it will be more appealing. to the younger generation and new to women because the camaro looks macho and aggressive and this one looks on fleek.it is

scarlet: what does that mean? i've never heard that before. matt: i guess you do not spend a lot of time on the internet. it is an exciting market for gm. have 28% of the performance market in the u.s. they have the biggest share of and the number one purcell inc. performance car the u.s. mustang is putting up a challenge scarlet:. i love thatarlet: it is in a category called performing cars. let's stick with auto for a moment. new rage in the china. a problem since 2012, 100 million incidents have been reported at a reason is it is rising in tandem with vehicle ownership. carschart shows passenger

registered every month. motorists to fight for parking spaces. right-of-way. that is good news -- >> road rage is not good news. scarlet: no, the fact -- is on the rise. matt: we have a serious problem with driver etiquette here in the states as well. where else can you threaten someone else's life and not feel guilty about it than the safety of your own car. scream at them out the window, things you would never do if he was danny in line at the bank. people get extremely violent here people cut each other off all the time. more --little >> do you think i would have done that too?

in california, people get even more angry. any place with a lot of congestion is where the off.ration cools and china, that is the main problem they have. much like russia, the chinese have adopted -- cameras more than we have. a lot of them have dashboard cameras and they go viral on the internet so it becomes more of a talking point. talking point. scarlet: in taiwan, it is required by law that way if there is an accident, there is evidence and taxi drivers can point to it. matt: it is not as bad as in texas. i feel like they are probably not packing a lot of heat. not a lot of people are carrying concealed weapons. scarlet: people are routinely ignoring angry honking and a week long traffic jam as well. matt: it sounds awful and i would exhibit rage as well.

years since the retiring in the year -- i spoke with him in his new life and career. ♪

the retired all-star catcher is out with a new book which focuses on his career and the lessons he learned from his father.

>> id not know how expensive it is, but people enjoy themselves. the stadium is back. tv deals are massive. think about the business of baseball and how it must have changed so much during the time when you are at the yankees. from 1995 until now. with withno partnership manchester united p or how difficult was it for you as a player to be supporting a billion-dollar franchise than when you first started in 1995? much, the way so it has developed, the way the tv there areover, commercials in between games, that is one of the reasons the games are little long. you have to wait for the tv to come on. inconvenient for the player and they are waiting and

everybody is ready and you do not have to wait for the commercial break. transition, the business side of it, it will keep getting better and better. >> i have got to ask you about finances. you and your wife are suing your formal financial -- former financial investor. i want to find a from you, what have you learned about managing your finances over the years? >> we have to be more involved and we were not. we were taken advantage. that is all i can say right now. i am more involved now. of course spirit i have the time. that was the thing. we did not have the time back then and trusted people that we should not have. what about the transition from a young player in college who just got drafted, to get a huge paychecks? all the sudden, you have massive

paychecks. what are you prepared? might -- >> my dad did. he was somewhat involved. him being a businessman, it really taught me a little bit of and we neededpen to save for the future and that is what he talked about an emphasized a lot. >> you are lucky to have your family who supported you in that way. do you think the institution should do more to support young athletes? >> different teachers, and not only the language when the kids come out, but they also help you financially and the agents do a heck of a job with that as well. >> one of the many lessons he learned from his father was not just the love of the game and how to approach a fastball, and

how to put money in the bank account so he has something for the rainy day. interview, be sure to check out bloomberg.com. still ahead in the bloomberg market day, apple stocks up comments.fter let's take a look at what is next from the tech jargon not, coming up. ♪

market is the "bloomberg ap or code >> carl icahn, at it again, are those shares really

worth $240? we will discuss. christie's, selling $1.5 billion in art. scarlet: they may not be able to repay the debt, but it might not be just greek bonds under the gun for the summer. ♪ scarlet: good afternoon, i'm scarlet fu here with alix steel. alex deal: it is another record high, smashing the intraday record that -- scarett: -- alix: is another record high, smashing the intraday record. thanks were rallying and you also had the chicago fed president in a statement saying that he still n