>> an amazing story. first let's go down and check in on the market action. >> i cannot wait to talk to him. he is an inspiration to all of us. the markets now are done pretty much across the board today and oil is really taking a hit on economic concerns on the u.s. and china and a build in inventories and gold is falling. the nasdaq is down better than 20. and the gold market, down almost 2%. that is really where we're going to start this hour. concerns about the economy and specifically jobs in the united states. cnbc.com's jeff cox is talking t c problems that may lead to job cuts.

>> it came along with downward vision. prompted wall street to slightly lower its expectations from the government. the new consensus is 133,000. the low at 100,000. not changing their forecast. some say they don't use adb.

>> a big miss on constructive spending. here is some of the commentary we got. dan greenhouse saying today's number continues the broader trend of growth. where it is on construction spending. really really horrible. on tap tomorrow. possible rate cut by the ecb. second quarter, tyler, looking weak. >> you have just written an article. you say that the unemployment rate is likely to stay high for the foreseeable future.

tell me why you're convinced that unemployment rates will stay high. about 60%. so in order to meet their bottom line numbers they will have to cut costs. the first place they go to cut cost is head count. i don't think you will see a lot of hiring as they struggle to generate revenue. that is going to keep this unemployment rate probably at least to 7.7, maybe come up in addition to the adp numbers. barely in expansionnary territory. >> one of the reasons that earnings have held up as well as they have is companies have cut. can they afford to cut more and maintain their profit? >> here is another way to look at this, too. >> there is two ways they can

grow. by hiring people or by returning moneys to shareholders. their job growth is below the level of overall job growth as gauged by adp. these are early days but possibly some effect of companies in that range that is effected by the health care act perhaps keeping lower their employment growth. >> many those companies 50 and above.

>> all right. jeff, thank you very much. sue? >> thank you, gentlemen. if more and more people are worried about the jobs picture, why are stocks today not with standing still near record highs? we have seen the ten year note drop and right now we have the 30 year yield iing which is a l for the trading day. so bob? you know, one -- why is this happening. >> i have just been going by the history. >> very sensible idea that the bond guys are always right down here. >> the other argument is that this is not a normal marjt.

>> that's what i mean. look at the yield. that's the key point. everybody is worried about what's going on. i call this a no conviction. >> i do see generally will tl are times when they outperform and today it's simply vice versa. the two trends, economic data is continuing to disappoint and secondly earnings growth

continues at a fairly healthy pace. i announced today record earnings for the first quarter. the s&p 500, all time record earnings. >> it just doesn't feel like it, though. >> one thing that worries me today is the sell out down 119 points. >> all right. up to you. >> thank you very much. three additional suspects have now been taken into custody. the three were roommates with dzhokhar tsarnaev. nbc news reports that the new three will be charged with lying to federal investigators. officials said the three removed items from the dorm belonging to

dzhokhar tsarnaev but then denied it. there is no threat to public safety as a result. >> analysts are looking for gain. the stock is up 7% in a month, today because the market is down it's down 2/3 of a%. it's still down about 30% since its ipo day almost a year ago. >> that would be up from 23% of mobile ad revenue in the fourth quarter. investors will look for any sign that any mobile ads are turning off users.

>> and after the company warned that its expenses will grow 50% this year, there will be attention on the company's cost and how its managing its margins. >> today we will look at benefits. john ford is out west. may be losing benefits. >> there are some reasons why they are more worried. most of that has to do with curtailing of risk.

i did speak to a wall street executive who said if silicon valley ever gets bailed out one is if you work past 8:00 p.m. you get free food. we also have gym memberships and discounts. employees foot the bill for the services themselves. >> on the specific question of paternity leave, i guess some are a standard eight weeks. but some of the best, goldman sachs it's something like 16 weeks. >> interesting to note what yahoo! did was expand the paternity leave to be equal to that, you know, immediate eight week maternity leave.

paternity leave is traditionally two weeks and a lot of people don't take it because they're worried about losing their job or some of their tasks associated with their job. >> you're a recent dad. i know our policy. is silicon valley ahead of the rest of the country in terms of benefits? we hear about free lunch and all kinds of stuff. >> you can't beat the approximate perks out here. facebook gives 16 weeks to dads as well and 4,000 bucks of baby cash. they don't have an official name for it. think of it as a baby bonus. but on top of that you have heard about free food. there is free transportation for a lot of people who live in san francisco but want to work in the valley but don't want to live down there. more and more, apple facebook, google.

really it's a perk laiden culture. stuff like haircuts particularly with this mobile wave. a lot of those younger entrepreneurs are getting older, into child baring years. >> i saw one company i think it was out in silicon valley that had an allowance for new parents for take out food. they were still wooing you. taking you on the outings and giving you the perks. >> it was google that had that benefit, john. >> and yahoo! has baby cash that they are offering, too. >> sue?

>> april was not the cruellest month for the u.s. automakers it turns out. ford's auto sales rose 18%. gm and chrysler gained 11%. it's the sixth straight month of sales. >> how getting jipped out of one one thousand of a second could mean big money. >> and the dutch air force fly i ing.

>> that is the low of the trading day.

we're watching these markets very carefully for you. we're also watching the new outline. we are on the story and he's in washington for us. >> the journal reporting on a difference of about 10 milliseconds that could cause an advantage. they are saying this raises questions about whether some traders there they can execute trades in the window with an information advantage. re ce recent. >> we need to step back, take a good balanced look and understand that technology is not always good. that fast is not always good and that sometimes we may want to

put some sort of appropriate rules and regulations to insure that individual customers are not getting messed up. >> they said while there are are and can be instances with any technology cme group is continuely making improvements to increase efficiencies. and it appears on the public data feed. this gap is not intentional. just the result of technology not necessarily being up to speed. they say they are working to get that down to zero as best they can. the answer appears to be that yes they are. >> i would think they would be. that's the way they work. appreciate it. >> if you thought our lawmakers behave badly, check this out.

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>> i'm julia and welcome to the power pitch. jesse lawrence is the ceo and founder of tick iq. he helped launch start ups. so he knows the world well. but now the pressure is on for him to deliver. here is his power pitch. >> i'm jesse lawrence. tick iq is a ticket search engine to find the best deals

online. all without paying any additional fees. if you ever wonder if you're paying the right price or if the ticket is legitimate, tiq iq solves those problems. we give consumers the most plexable set of buying options available. through those publishers, we deliver content into the editorial stream and give consumers and fans information they need to buy tickets on their favorite performers and teams. because this is a valuable audience, ticket sellers pay us so we don't have to pass along extra fees to consumers. >> jesse can listen in but can't react just yet.

we have a managing director, which is a billion dollar seattle based pc firm. we are joined by david packman. currently has investments in cloud and dollar shape club among others. david, first you. >> i would really like to learn more about how he is making his money. it will be hard for him to compete. >> that's really my concern here. you have stub hub and ticket master and people really trust those brands. >> the distribution strategy is very differentiated. >> so you have heard the huddle. now you're in the hot seat.

>> how do you differentiate against all of the other players out there. >> and the ability to make an offer. we have a totally free selling tool which allows fans to target other fans with deals and not pay any fees on top of that. >> what are your revenue streams? >> one is transactional and the other is advertising. it is high margins. we have a very high margin advertising channel between 50 and 70%. and the beauty is we don't have to pass any extra fees along to consumers. >> we work with ticket master. we work with sellers primary and

secondary. and we give them cost effective acquisition channels to reach fans where they are interacting online. we have given them a new chan l channel. >> last question is on coverage. i was looking for one direction tickets for this summer and i couldn't find them in my local market. >> national and some international. we list sellers from every market. ticket master and secondary. we have full coverage and happy to help you with one direction tickets. >> you heard what jesse had to say. are you in or out? >> i see customer concerns and being out there on sights like the old fashioned google. i am curious about having that full coverage so i can get those one direction tickets.

i think that the fan and consumer really loves me ta search. i think that jesse has got some great approaches for distribution so i'm in. >> david, what about you? >> i'm a little bit worried that it's hard to compete with prior mare and secondary marketplaces but i think jesse has shown to be nimble and creative. i do believe that his customer experience today is pretty fantastic so i'm in. >> i walked into this with a lot of questions about competition in the marketplace and what's to keep a company from stub hub from launching similar processes, but after hearing the pitch, i'm also in. i think there is huge potential in the marketplace. >> there are still some pending questions. what is your response and reaction? >> i think the best response is use the service, see how it's different. see how we don't add extra fees on top of the current buying

process. it's all about good customer experience and a great product. we think we have built just that. >> thanks to matt and david. that's the power pitch. >> he lost his arms and his legs due to an infection a few years ago. but he has taken his nightmare and he is doing something absolutely amazing for the victims of the boston bombings. he and his brother harris are with us live after a quick break.

>> a lot of big news coming out this week. the fed decision and that's why mainly traders are stayingen the

floor. they will wait to see what happens. back to you. >> thank you very much. on the home front now. a new guide expected to head the government regulator. do it within the next hour. >> this nomination fannie and freddie's current regulator refused to do it. and remember, north carolina is bankland. and he has had plenty of their support. bank of america was the second largest contributor to his

campaigns. are expecting principle reduction. principle write down means giving borrowers equity back in their home. and when you reduce the amount of a home ener's mortgage, the homeowners tend to keep up with the payments more than if you don't. watt is, by no means, a shoe in with this. tiler? >> all right. reporting for us. as we told you earlier, three additional suspects have been taken into custody in the boston marathon bombing case. the three are former roommates and dorm mates.

police say there is no threat to public safety. >> i waunt to talk to other brothers who are doing something very special. >> indeed we do. this is video he lives and plays in florida. and as you can see, he has prosthetic. and his his brother are raising -- trying to raise a million dollars so the men and women who lost their arms and legs in their a tack. harris will be a freshman in boston next year currently training for next year's boston marathon.

it's a pleasure to have you here. >> thank you for having us. >> mike, let me start with you. you lost your limbs a number of years ago because of an infection. so you know the pain of going through that experience. and you probably could tell us what the victims of the boston bombing are feeling right now? >> i imagine they are sad and it's a tough time. but if they keep at it and keep believing in themselves they can achieve their goals and nothing is impossible. >> what have your learned from your little brother? >> having a little brother like michael is such an inspiration. we both play football and lacrosse. when i'm tired and it's the fourth quarter you think about how mike is able to push through. he inspires me to finish strong every time. >> you have been trying to fund raise.

you want to get a million dollars. how have you been doing so far? >> we have almost $41,000 through our website. and all of that money goes straight to the scott rigsby foundation. we're working with them. so total right now we're at $67,000. we have had over 50 runners asking if they can run with mikey's team. >> i trust that you're still a pain in the backside to your bigger brother. i hope that never changes. tell me how difficult that has been to throw a football and so on and so fourth. how big of an ordeal is it?

>> it didn't take me that long. i have always found everything came easy to me. even after this happened. i learned how to play lacrosse right when i got a stick. i started playing catch with my brothers. it was pretty rusty. it was hard. sometimes i got mad. i kept at it, kept playing, and gradually got better. and for football. i was very lucky. >> very quickly. if you could give one message to the victims of the boston bombing, what would it be? >> i would tell them that everything is going to be okay. >> just a positive attitude and your family and the community and the whole united states of america is behind you and we're going to do everything we can to help you out. >> we're behind you guys, too.

we will keep track of your efforts. thank you so much. we will put the website up. if you want to help out you will see it right at the bottom of the screen. and help pay for prosthetic limbs. it's mikeysrun.com. >> two pretty impressive young guys. so how are traders positioning themselves? we will go live to the floor of the new york stock exchange. and check this one out. an all out fistfight on the floor of parliament. and you think our lawmakers are badly behaved.

>> they know how there it is. there it goes. it is with us -- all right. so the people who control congress, the party that. >> as the president. >> all right. let's change here. france kicking up a bit of a stink to buy the online video

site. >> you have government ownership and government intervention. you really don't have control of the things you own. you can't sell them or put them on the market. they did this before. there were rumors that pepsi wanted to buy the yogurt company, danon. >> the french have been very protective. >> but yogurt? a website?

>> president obama says there are challenges to implementing his overhaul. a bit of a moving target. joining us with an update. the pictures a little bit clearer, at least in some of the 16 states that are building their own marketplaces. washington state has begun test driving the marketplace. and it has not published rates yet. >> asking for 25 prs ratings. that's not likely to pass all the way through. in vermont, the proposed 2014

rates right now are in line with current prices. those nearing the retirement. obama care rules could actually mean lower premiums. >> because of the new age rating rules, which will limit how much insurers can charge older people, consumers, compared to what they charge younger consumers. >> medicare advantage. before we get rate proposals. keeping shares higher today after profits in the first quarter.

be sure to check it out. >> we are just minutes away from the fed's newest decision. let's get the tradingctio here. bob joins me on the nyse. we're at or near the lows of today. >> i call this a low volume sell-off. not feeling a lot one way or the other. not changing much in the middle of the day. i do want to point out a number of big companies here. big international companies have again had negative comments today. this is very big.

reegle. tell us a little bit of a surprise. >> very much. counting down to the fed. >> it's that time of the month. old style line-up.

who is leading, who is lagging. who has got it. and also they made a mistake. all of those things and more coming up at the top of the hour. >> to the bond market. >> lately treasuries have been two. half a dozen or so. yesterday yields were pushed up by hedging on apple. that wasn't around today when we took on yesterday's low yields.

and things like hyg, they measure investment grade and high yield are also up dramatically. sue, back to you. >> which stocks are moving? we will talk about that ahead coming up next. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could.

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>> let's get you up to date on the markets. the s&p 500 is off better than

12. the nasdaq is now better than three quarters. >> raising money by the two young boys. >> might be run. mikeys run.com. they have raised $4,000 so far. >> a terrific couple of guys. that will do it for power lunch. minutes away. ♪

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invested in the world. bny mellon. >> welcome back to power lunch. we now have the names they are roommates of dzhokhar tsarnaev. officials say they will be charged with lying to

investigators. brian? >> thank you very much. and welcome everybody to a special fed day street signs. we are starting early the gas you up for the fed decision. it is in minutes. will today be the day that the fed finally shocks the world and changes qe? >> we are near the lows of the day with the dough down 109 points. take note of that because that is where we are sitting going into the decision. what is pushing these lower. >> the manufacturing data there.

there are concerns about what we're going to see in the jobs number on friday. all of this is really concerning to a lot of traders. we have seen it as well. gold down more than $25. big reason there. only bright spot, lower prices at the pump. >> and that puts more money in our wallets. let's bring in addison. to what degree are they reacting to lower growth assessments? >> it's clear that today is sort of like the cap off we have had this data.

the markets were ignoring it. i think that's what traders are reacting to. >> thank you for your quick assessment there. >> all right. let's bring in the aforementioned all star panel. do you expect the fed to chance its stance today in will it be the stock heard around the world? i don't think they're going to taper until september at the earlier. this is something that the fed is committed to keeping the pedal to the metal for quite a long time now. trying to compete which is going

in the other direction. a opposed to maybe increasing the pricing stimulus. i put together a list of what i call break the glass options. if this is not working, here is a list of them. raised the inflation target. not one that the fed really wants to do but it is something that would give them further guidance. i think these are some of the conversation conversations. >> we're going to dig in.

>> remains about 6.5%. inflation around 1 and 2 years ahead. no more than half a percentage point.