a couple quick ones, corning, buy, sell, hold? >> sell my stock right about here frankly out of boredom. keep trying to make gains. >> that wasn't exactly buy, sell, hold but it will have to do. >> i sold mine right here. >> because of that, that does it for us. >> that's it. >> great rest of the day. "fast money" at 5:00 p.m. follow me on twitter. "power lunch" starts now. "power lunch" and the second half of the trading day starts right now. >> all righty, scott. thank you very much. another volatile day on the markets. moments away from more potentially market-moving data. there you see the dow, down 56. s&p down 6.5. nasdaq down 20. the dollar down a little bit, and there's the ten-year note, the yield at 2.19. free markets, fair markets, and another case of how it may be stacked against individual investors like you. and an elite group of traders getting access to closely watched economic data that routinely moves markets, but they get it before the official release. cnbc has this one covered for you, and what if you could pay a

monthly subscription to fly as much as you want on an airline? would it be worth it? one airline is betting it is, but -- but, sue, i'm going to tell you something, you won't be flying on one of those, okay? >> i have a funny feeling that is the case. i can't wait to hear more from phil lebeau on that story. you showed us the numbers, tyler, and told us it's a volatile day on the street. it is indeed. they are worth another check right now with the dow jones industrial average off 60 points. just off the lows of the session. the nasdaq is off 20. the s&p 500 is off about 6.75. the vix in yesterday's trading session saw enormous range. today it's up another 5% on the trading session, and that's off the best levels for the vix of the day. the dollar, which had swings of almost 3% against some of the major currencies yesterday is down a third of 5% rig-- of a percent, hitting its lowest level since february 20th. bob pisani joins me on the floor

of the new york stock exchange. yesterday we saw legendary moves in the currency market and saw big moves on the yield curve as well. what's wall street watching today? >> once again back to the currency issue. it's true, the dollar has been weak against all the major currencies for a number of days now but the one that matters is the yen. that's because the carry trade is there. there's huge leverage in it, and it's unwinding. down the don't believe me. this is a look at chart. dow industrials, dollar/yen. the green line moving down means the yen is strengthening, bad news for the carry trade and generally for stocks. can you see it's been moving in tandem all throughout the moving. that's the first thing that's moving it. the other thing moving the markets, and it's related, confusion on when the fed will begin tapering their bond purchases. remember, bernanke said on may 22nd that the fed may start tapering in the next few meetings, june, september or december when he'll have the press conferences. look how much things have changed and that was an infliction point. up until may 21st the dow swung

from a the low to the high of 109 points. since may 22nd, it's been almost a 184-point range and today we're right in that range. almost a 200-point range. interest rate sensitive sectors still getting hit and reits are right near, evased most of the gains. the reits are weak and volatility to the downside. >> speaking of bonds, let's go to chicago, breaking news in the bond market. the ten-year note just off the board. yesterday's auction was not good. rick santelli, how does it look today? >> you know, this one is a tough one to grade. i gave it a "c." probably grade it had too high. the demand for this was expected to be terrific with the tightness in the repo market. the ultimate yield, 2.209. right about where it was. it was bid at 2.21 in the one-issued market, but here's where it starts to fall off. ten auction bid to cover, the

average is 2.83. this one came in at 2.53, and i'm looking at this fast, but it looks like we haven't been below that level since august of last year, so we'll call it about ten months, and if i look at the indirects, they were 51.7. that's really good, but i'd rather see the direct strong, and the direct was 11.7, just about half of the ten auction average, so it priced right in terms of yield, but it didn't really have great demand, and i'm shocked, if i was betting on this, i would have lost today. sue, back to you. >> yeah, i'm surprised given the volatility that we've seen in the market and the foreign -- the foreign markets and the foreign exchange market that we didn't see better demand. the dow has bettered its position a little bit by about three or four points. we're now down 56 points. we were down 61 points when the auction went off the board. the s&p, basically right where it was before, down six points. the nasdaq is down 19. ty, up to you. >> all right, sue. this is going to cause outrage. another example of how the markets are stacked against

individual investors. eamon javers live in washington. tell us about it. >> reporter: hi, tyler. cnbc has obtained a document that shows a closely watched consumer confidence number that routinely moves marked is accessed by an elite group of traders for a fee a full two seconds before it's official. the contract car us out an even more elite group of subscribers.

you'll see the trading in the spy etc on may 17. the red line on the right is 9:55 a.m. and can you see that trading exploded two seconds earlier at almost exactly 9:54.58, more than 100,000 shares traded hands in the first ten minutes of the burst of activity. now, here's what thompson reuters told us about this early data release. quote. details of the tiered release of this data are provided openly to thompson routers customers and the wider public and anyone wishing to trade on this data can pay for the service that best meets their data needs. they also said it fully discloses the two-second lead time on its website. as can i tell you, this is extremely valuable date a. the contract shows that thompson reuters paid the university of michigan at least $1 million a year for the exclusive rights to

difficulty put it. >> that, i'mon, was going to be my question. going to bring in our economics reporter steve liesman and sue herera into this. clearly they are paying for access early, privileged access to information from the university of michigan. michigan can do whatever the hell they want with their data, but this certainly doesn't smell good to individual investors. how important is this number anyway? >> you know, it's one of the oldest pieces of data that we have out there, tyler. it goes back to the 1940s, and i think the problem here for the university of michigan is you're absolutely right. they can do whatever they want. thompson can distribute it for whatever fee they want. can charge a two-minute or five-minute fee. but the problem is it has quasi-official status and it has the name of a renowned and respected university on it. >> exactly. >> so i think the expectation was that this wasn't going on,

and people that i talked to, even though thompson reuters says this was disclosed, a lot of economists on wall street had no idea. >> i don't think a lot of people had any idea, and eamon, it really just feels -- talked to a couple of guys down here. they feel it's front-running, you know. it's front-running with news that you're getting early so you're trading early, front dab running the number. >> yeah, sue, that's right. the key question here is what is it that these wall street firms are paying thompson reuters for? are they really interested in consumer confidence numbers and how consumers are feeling? if that's what they are interested in, clearly they could hire a polling firm and find that out for themselves. >> they just want the market edge. >> or what they are buying here is advanced information on a potential market that they can get ahead of. that's the question at heart of this, and i think we look at the legalities of this, you know, experts i've talked to and we quote in our online story about this say that the key here is disclosure. if you put it out to the world that you're going to put out a

number at 10:00 arnlgs you ought to be putting it out at 10:00 a.m. if you say to the world we'll have tiers of access, then you can do that. >> eamon, there is no -- as far as i can tell, there's no disclosure at all about when it's released on the university of michigan website. >> that's my question. what does michigan said? they got the report from thompson reuters saying we're clear about who is going to get it and what they pay and the elites and the super elites and so on and so forth, but what does michigan say? >> well, i talked to the person who put together this data at michigan, and he met with me yesterday, and what he says is that this information is privately sponsored, and in fact, they would not be able to collect this data if it wasn't for the money coming to them from thompson reuters, so the public would lose the advantage of having this data at all if they didn't have the agreement. the university spokesman also told me that they have very closely scrutinized this transaction, and they believe it accrues to all the regulations.

>> for the record, eamon, they put this out for six decades. >> it's one of the oldest. >> that's a good question. >> the other question is we don't know exactly how much these wall street firms are paying thompson reuters for early access, for the two-second head start. that's got to be extremely valuable. thompson reuters would not say how much they charged. >> more than the $1 million thompson reuters pays michigan. >> we have to put this in the context. this just reinforces i think a belief among the average and small investor that it's rigged against, rigged for the highest bidder. >> absolutely. >> that the democracy of the markets is more an illusion than a reality. >> thank you, gentlemen. hewlett-packard's ceo meg whitman speaking on cnbc's "squawk box" struck a positive tone about that company's business prospects. >> we still think growth is still possible in 2014, our next fiscal year. i think the biggest wild card is what happens to the pc market as

a whole. we define that% now at personal systems, but the vast majority of our personal systems are pcs, and so i think that will largely depend on the market. >> hewlett-packard sales hitting a 52-week high on those comments, currently trading up 3.66%. >> a blowout for cooper tire, maybe a questionable word choice but nonetheless, india's apollo tire to buy the tire-maker for $2.5 billion. that is a 43% premium from cooper tire's closing price yesterday. there you see the stock right now. the deal would make it the world's seventh largest tire-maker, up $9, almost $10 right now at 34.51. sue? >> british mobile phone vodafone has approached germany's biggest cable operator about a bid for more than $9 billion. this will help it fend off competition in the european

marketplace. it's currently trading down almost 2% at 28.25. the potential transaction would affect verizon. for its part, verizon is trading down a little bit more .02%. >> more u.s. homeowners got out from underwater mortgages as the recovery in housing lifted prices across the board in most parts of the country. this according to the cool logic firm. in the past year, 1.7 million borrowers have regained positive equity in their houses. nevada had the highest percentage of underwater properties at 45%. rounding out the top five under water, florida, michigan, arizona, and georgia. let's check the markets because even though it wasn't a great auction, apparently it was good enough to help the dow jones industrial average pear its losses a little bit. now down 41 points on the dow, 15 on the nasdaq and just about

5 points on the s&p 500. coming up, we saw huge fluctuations in the currency markets yesterday. we'll talk about how that's impacting u.s. corporations. and we just talked about it with eamon and steve, just how speedy is high-speed tradeing? we'll take a break and take a look at what can be done in one millisecond. on wall street, time is money, and if you want to get rich quick, you have to be able to trade fast, really f'ing fast. >> mom and pop investors just don't stand a chance. >> because in this world, a single millisecond can be worth $100 million a year. how fast is a millisecond? well, it takes about 400 mille seconds for a really fast pitch to cross the plate. in other words, on this street, even fastballs are too damn slow, and who can afford to blink anymore? that takes around 350 milliseconds. this is where bulls fly faster than hummingbirds.

but on june 3rd the market flew even faster than that. 15 milliseconds before the official release time. you see a burst of trading volume. >> 28 million bucks changed hands in just 15 milliseconds. that's almost $2 million a millisecond which adds up to about $2 billion a second. compare that to what some people consider the ticket to fast money, a lottery draw. it takes around 5,000 milliseconds for a single ball to pop, so in wall street's fast lane this is slow money. >> this is causing quite an outrage. >> even if you are guaranteed to win, the winning numbers and that big jackpot wouldn't even be worth the wait. tdd#: 1-800-345-2550 companies breaking through. tdd#: 1-800-345-2550 endless possibilities. tdd#: 1-800-345-2550 with schwab, i search the globe for the big movers. tdd#: 1-800-345-2550 i can trade in 30 different markets tdd#: 1-800-345-2550 to help me seize opportunities,

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the dollar index which measures dollar's strength against a basket of currencies has touched its lowest level since february 20th. the dollar down about 6% against the japanese yen in the last month alone after a big long upstretch for the buck. seema modi here to discuss how it's affecting u.s. companies. seema? >> a lot of volatility in the u.s. currency markets and the dollar's recent slide, particularly against the yen, could be good news for the u.s. exporters that depend on the japanese market. the weaker dollar makes their products less expensive. this is a big turnaround from the trend in place since 2012 when the japanese central bank began an aggressive easing campaign, and this turnaround could be good news for u.s. companies that depend on the japanese market. now, according to s&p capital

iq, there are six companies on the s&p 500 that make 20% or more of their sales from japan. dts and info tech company booked more than 40% of its sales in japan in 2012. jann arden, coherent and abbott labs making the list, ibm, metlife, merck also sold more than $1 billion in japan last year. japan is also a big market for the high-end retailers like tiffany's and coach, each with over half a billion dollars in japanese sales in 2012. currency fluctuations are seen as a risk to these companies. now, the big unfamiliar here in all of this, will the turnaround last for many american companies? that answer, of course, is very critical to the bottom line. >> seema, thank you very much. appreciate that. sue, town to you. >> ty, time to get an update on the situation in turkey. turkey's prime minister meeting with anti-government protesters after nearly two weeks of demonstrations. riot police clearing out taksim square in istanbul following a

series of clashes overnight, but several hundred people are still camped out in tents near that area. nbc's chief foreign correspondent richard angel is li live in istanbul and joins us with the latest. richard, over to you. >> reporter: it -- the big headline is that it's been quiet so far. there haven't been any clashes, no tear gas, a heavy security presence in the square, a few hundred riot police, but they haven't been engaging or clashing in any way with the protesters. there are a few thousand demonstrators here. they say they will stay in the park. they say they will stay in the square, but it has been peaceful. they have been shouting anti-government slogans, but if this calm can remain, then it becomes an internal political problem, a headache for prime minister erdogan but not anything that an elected democracy can't deal with. the question is will this come last? there could be some clashes tonight. the protesters are fearing that

the government may decide to move on them again the way it did yesterday, and we're not hearing any indications about the government's intentions. the government hasn't said that it will not clash with the protesters, and the government has -- has just called on them to leave. so far an uneasy calm. that's good, but we're not sure if it's going to last. >> indeed. richard engel live in istanbul, richard, thank you very much. would you pay a monthly subscription to fly as much as you would like? well, one airline is betting that you will, we'll taking flight with that coming up next. plus, the power pitch. coming up, power pitch. startups give up their 60-second pitch. >> i'm job neblitt, cofounder of -- >> how do you defend against amazon? >> what's the strategy of social mobile? >> do these startups have what

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have what it takes to become the next big thing. >> i'm julia boorstin. on today's "power pitch" a company aiming to make a one-stop stop for green products. josh neblett founded the company in college. this year he was instrumental in the acquisition of eco-mom, an online company for eco-friendly kids products but can he win over the panel? let's take a look at his power pitch. >> my name is josh neblett, co-founder of online retailer for 20,000 eco-friendly products. founded in 2008 as a college student. we've maintained a -- 2013 in sales are expected to be north of 25 million.

in addition to our engaging shopping experience and over the top customer service we prevent green washing. every product we carry on the site must contain one of our 25 unique eco-traits including organic, non-taxic and energy efficient. our success can be attributed to our fun-loving culture. we'll continue to develop and innovate, standardizing the drop ship model and automating mundane tasks. i subscribe 100% to marc andreessen the leader in tomorrow's retail will be those with the best software. we expect to be one of those leaders. >> the coo of buzz feed, joined by josh godmldman, generated $2 billion in m & a.

okay, guys, let's huddle up. john, what's your thought on this company? >> well, the revenue is great. that's exciting to me. the category is exciting to me. what concerns to me i think mobile and social are one mega trend. the site is not mobile optimized and the presence on social are very weak. 17,000 subscribers on facebook and small twitter following. i'm concerned that he doesn't have it positioned for social mobile growth. >> well, look, i'm very impressed. i think very few companies can get to the scale that josh has gotten his company to with just under $4 par 3 100,000 invested. that's incredible and shows he runs a very tight ship and investors and boards love that. my concerns on this business, there really are three. the first is what are the growth margins in the second is how fast is this company growing? that i believe he's done very well and the third is what's the defensibility against amazon in this kind of model. >> josh made a good point about amson. my concern is the fact that so many of their products are also available not just on amazon but so many other retailer sites so the question is how they are

going to manage to grow when they face such major competition. okay, guys. now it's time to put josh neblett in the hot seat. john, what's your first question? >> what's the strategy on social mobile? why is the site at this stage 25 million in revenue not optimized for mobile and doesn't have a big social strategy? >> i think part of our eco-mom acquisition, they had 35,000 facebook likes, that helped us expedite that. i think we'll continue to put a focus on social and in terms of mobile, in the summer of this year, sometime before september, we'll roll out a mobile friendly site, not only for green cupboards but also for eco-mom. >> the biggie for me is how do you defend against amazon? >> a funny situation in that they are our biggest partner and also our biggest competitor. we work heavily with them for their fulfillment services, so we leverage their fulfillment warehouses for our greencupboards.com website. >> how do you handle the fact that you don't have exclusive products? >> we do have some exclusive products. put a big emphasis on our supplier relationships and

trying to bring things first to market on our own platforms. >> can you make the site more content driven and put a special sauce into it, not unlike what fab is doing inny is sign? >> something we've talked about and something we want to grow and expand on into the future. i think you're right. that is one way to combat with amazon and other large e-commerce players. >> okay, folks. you heard what josh had to say. the question now is are you in or are you out on green cupboards? john? >> i love how the business is performing and love the growth off such a small investment. being able to have 30% to 40% margins on 25 million up from 12 or 13 the year before. i also like the category. as a parent of two small children i like to know all the things about the product. my concern is business moving into social and mobile because that's the key to e-commerce over the next several years. given all the execution that josh and team have done so far and they have achieved everything kind of coming before this, i'm in. >> okay. josh, what's your reaction, in or out? >> consumers are going to go

where there's the most convenient shopping experience with very good customer service at a fair price, and more and more that means amazon unless you've really differentiated the buying experience or you have exclusive products, and i mean a majority exclusive products. so as impressed as i am with this business, i think the competitive risks and the margin pressure that are going to come from that make me concerned about this next phase of growth so i'm afraid to say for this one i'm out. >> the fact that it's mott optimized for mobile and the fact they haven't really been pushing the content side to really differentiate green cupboards from amazon, i would say over the long term i would be in, but for now over the short term i'm out. okay, josh, neblett, what's your reaction? you have two outs, mine a tentative out and one in. what do you think? >> we've had doubters since day one, and it's something that we'll continue to grow with. again, i appreciate the input and we'll take that and make things better from it. >> thanks to josh from green cupboards and that's "the power

pitch." >> two outs, one in. you heard the panel. we want to hear from you. are you in or out on green cupboards? logon to powerpitch.cnbc.com and cast your vote and follow the conversation on twitter with the #powerpitch. sue? >> all right, ty, we'll focus in on gold prices. with the dow down 54, how is precious metals doing? sharon epperson has the action for us from the nymex. hi, sharon. >> reporter: hi, sue, seeing a nice pop here in the gold market, up about $15 or so, near the highs of this session today. we're looking at gold closing perhaps right around 13,901 or 13,092 an ounce. we saw equities in negative territories and some traders say there's a couple of factors, geopolitical events, namely watching the protests in turkey and whether or not it will stay quiet as richard engel reported or whether there's more protests ahead. they are waiting iran's presidential election and that's also a reason they want to be in gold.

still looking at gold prices that are range-bound and a lot of commodities have been range-bound. goldman sachs says expect more in terms of range-bound commodities market for the summer. >> thanks a lot, sharon. talk a lot about volatility down here on the floor of the new york stock exchange, but if you want to see real volatility, one of the traders pointing out to me, take a look at the nikkei futures. this chart at just about noon or so. all over the board, up, down, up, down. up a second ago and now it's down and it's really the chart that everybody has been watching in terms of the volatility, and it's been affecting trading here at the new york stock exchange as well. bob pisani is here. just a fascinating chart. >> very similar, as a matter of fact, to that. >> which is why we're watching it so closely. >> the reason we do is because the nikkei futures and the dow is moving very much in line with how the yen is moving, so as the yen has been strengthening throughout the day, the markets have been weakening, and when the yen comes off of that, weakens a little bit the market gets a little bit better.

indeterminant trading in terms of the sectors. wanted to mention that right now and while we started on the positive side with materials and industrials and energy stocks doing well, everything has kind of slipped down here into the middle of the day into negative territory and materials is still the best performing group. you can see more defensive names in there like consumer staples and health care. the best performing sectors today. take a look at dividend stocks, a couple of stocks who boosted their dividend. target boosted their dividend 17 cents or 19 cents, half an hour ago, caterpillar boosted its dividend 52% from 15 to 62 cents. by the way, caterpillar almost a 3% dividend yield, not bad for an industrial. a big trend in bond funds continues to the -- side. there's the agg, the big etf in this space. general bond market. largest bond holding out there. to the down side again and a lot of people have riten to ask me what about tips, selling the inflation protected bonds, there's the t.i.p., the big

kahuna. >> straight down. >> we're talking straight down. the great irony, and this is a really tough call, they are selling them at a time when potentially inflation might be picking up which is when you want something like a t.i.p. >> that's the perverse logic of this market. >> not buy low, sell high. that's why it's hard to make a call getting people writing in saying what should we be doing with the bond etfs right now? talk about that later but a really tough call. >> a very dicey call. >> what side of the inflation debate are you on? and that's what you have to answer and then you'll know what to do with it. i.p. and agg. >> uptown to the nasdaq, bertha coombs is following the movers there. >> reporter: hi, sue. a lot of red here and i wanted to show you some of the outliers. r rambus up 5% after settling its 13-year dispute with nymex. microsoft and cisco in terms of impact are adding to the upside

and applied materials on the upside. biogen, risks to the multiple sclerosis drag and amgen a bit of a drag as well, and that is $25 million out of that extension. back to you. >> all right, bertha, thank you very much. to the bond market right now. we had the auction, the ten-year note go off the board. ricky gave it a "c." seen a little movement since then. how does it look, rick? >> so fascinating. let's build on what bob pisani is talking about. let's look at the intraday of ten-year note yields, and if you look really carefully you can see at 1:00 eastern there was a little bit of a move. now, let's look at the dollar/yen. if you look at will dollar/yen around 1:00 eastern, there was kind of a little bit of a move, and if you look at the dow which

bob was talking about, there was a little bit of a move. i don't need to show the nikkei futures because bob did, so the point is it's kind of like that movie "bob, carroll, ted and alice. the ." there's a relationship here but who is paired with who? i can't really tell. tyler, back to you. >> with the rebound in the economy we'll tell you which sector to move to. would you pay a subscription fee for an airline? >> reporter: how much is $1,650, worth enough to have a guaranteed seat in a plane that's flying up to san francisco from burbank on a regular basis? we'll have the story behind surf air after we batten down the hatches and get ready to fly up to san carlos. would you do that, please. "power lunch" will be right back after this.

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welcome back to plufrp. i'm courtney reagan at the piper jaffrey 33rd annual consumer can have fence. the highlight of the day so far, definitely the presentation from gap ceo glen murphy telling the crowd that he's going to roll out in 40 stores in chicago and san francisco a new reserve it now program. consumers can go online for gap or banana republic for certain locations, reserve the item and go in store. this is a key advantage over amazon because fit is important, and studies show that if you return an item to the store, you will on average spend a third more than the item that you return. i spoke to murphy afterwards and asked him exactly what the retailer's plans were for intermix. that's the high-end brand that gap bought in december of 2012. and murphy said that going from value to luxury has become very common, and we are -- very common. we have a big mix in our

portfolio. we are going to, quote, turn charge online for intermix. well, gap shares are under a little bit of pressure. for 2013 gap shares are up 30% compared to the broad s&p retail index which is up 20%. sue, back to you. >> thank you very much, courtney. shares of first solar are dimming a little bit today in a down market. the maker of solar energy equipment says it plans to sell 8.5 million shares of stock. it plans to use the proceeds for general corporation proceeds. the maker of data tracking software jumped 16% in its debut showing confidence in the enterprise startup and herbalife is higher after reporting that an online survey conducted in april and may showed that 3.3% of the population had bought its products in the last three months. the stocks is up 6.33% and the ceo of royal bank of scotland has stepped down. the stock is lower on that news

by almost 3%. well, would you pay by the month to fly as much us a want? one airline is betting that you will. cnbc's phil lebeau taking flight for us in burbank, california. phil? >> reporter: sue, i've covered a number of airlines going under over the last 15 years or so, so it's nice to do one about an airline launching service. today is the first flight of surf air. for 1,650 a month, that's what you pay to become a member of surf air. there are 150 founding members who have paid that fee. another 45 hundred on the waiting list. surf air believes that there is enough demand between let's say the silicon valley and burbank, or other high-traffic cities that people who fly between those cities a lot will pay that fee. it's backed by 11 billion in venture capital money, and surf

air says the member's average annual income is $300,000 so they can afford this 1,650 a month but there's more than a few skeptics out there that say little planes do not make big money. >> p.t. barnum said there was a sucker born every minute. who is going to invest in this? this is a tough, tough investment. very highly speculative. the history says most of them won't work, and so i don't know where they come from. i wouldn't put my pension into the idea but maybe some other people have more tolerance for risk than i do. >> reporter: and the truth is i have covered more than a few airlines, particularly charters or air service carriers that have not lasted. the track record to success is not a good one for startup airlines. they often struggle with pricing and growing routes, and the route structure for surf air, again, between burbank and san carlos and they will be adding in monterey and santa barbara and more cities and more planes here in california. the ceo wade ierly has heard the

sketchics, and he believes there's enough business for this airline to fly. >> this is a month-to-month deal, if you're not happen we what you bought you won't condition with us. >> they are using the netflix model they say in terms of you buy for a whole month and then you can fly as much as you want. no more than four at a time can be scheduled. tyler and sue, we'll be jumping on this flight going up to san carlos. we'll shoot a little bit on board and talk to you later on the "closing bell" when we touch down up in the silicon valley. guys, back to you. >> phil, thank you very much. which sectors of the economy will do better in an improving economy? and we'll ask and answer that question and we'll tackle restaurant stocks on the menu next.

coming up on "street signs," there is a lot of controversy, right, about high frequency trading already out there, and now there is outrage of a high-paying hft traders getting economic data early. eamon javers' story. he's all over it. he'll weigh in, also cramer and jared bernstein with a big debate coming up. high-end dining stocks have exploded, all part of the wealth effect, so what's the outlook? we'll try to find out and something very, very special coming your way on our show. an exclusive interview with david and jackie segal, better known as "the queen of versailles." must-watch tv. that's on "street signs" at the top of the hour. meantime, back to you on "power lunch." >> we'll see you at 2:00. as the economy improves, which sectors should be trending better? our josh lipton is here and this time he's looking at the restaurant stocks. makes sense for "power lunch,"

josh. >> sue, when the dinner bell rings, if the labor market improves, more americans might decide it's better to eat out than dine in. dining traffic trends generally highly correlated to year-over-year employment trends. analysts at morningstar expect a solid 2013 for restaurant, looking for same restaurant sales growth in the low to mid single-digit range. three reasons here, improving restaurant traffic. lower than expected commodity costs and accelerating unit growth, but before jumping in, bob darington of north coast research does warn about valuation in the space. take a listen. >> we've seen the average gain across our universe of 40-plus restaurants. you know, somewhere in the vicinity of 30% plus. i don't think the gains will be that strong in the second half because the valuations for this group clearly are pretty pricey at this level. >> pretty pricey, but if you are looking for picks in the space, jpmorgan does have a few ideas for your consideration.

starbucks is their number one large-cap pick. as they see 20% eps visibility through 2015. this stock now up about 20% so far this year. in the casual dining space, bringer which operates chiles for its initiative and the operator of applebee's, the company arguing it's only beginning to garner the respect that domino's and dunkin'have achieved. jpmorgan ceo jamie dimon getting tough. one of those thinking about suing him over the huge trading losses. and mark zuckerberg getting slammed at facebook's annual shareholder meeting. is he losing his touch? that's all next in the rundown. tdd# 1-800-345-2550 [ trader ] when i'm trading, i'm so into it,

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. tame for today's rundown. jamie dimon daring anyone to sue him to go ahead and make his day over the london whaling losses. his defense, quote, there was no hiding. there was no lying. there was no bs period.

he's saying bring it on. >> look, he's obviously newly confident. he won his big battle down in florida, and he's raring to go. >> this is classic jamie dimon. vitriolic, spirited, heated and drawing from his old cadre of very intense vocabulary, to say the least. >> you've covered and followed the story. do we believe they were as forthcoming totally as dimon represents? >> i do believe that the upper management and jamie dimon in particular, did not know what was going on. that was one of the problems. it was a problem of oversight. that's not an excuse for them, but i don't think it means that they were lying about it. >> i mean, he might have shareholders off his back in terms of having that dual role affirmed but regulators are still confirmed and the issue, as john points out, in the lower ranks, were the traders mismarking their positions? were they forthcoming with the information to their superiors? >> and why wasn't there more oversight to them? can't have traders lying to those above them. >> concealing what was going on. i think we can expect reasonableness but not perfection out of top

executives. mark zuckerberg, speaking of reasonableness and perfection, raked over the coals at the shareholder meeting. is zuckerburg losing his touch? >> what shareholder meetings are forks for the everyday investors to get access to these executives and tell them. >> where is davis when we need her? >> i don't know if she's investing in facebook stocks. he didn't give clear defenses, got asked about all their competitors, apps and google plus and said we're not scared of them. he didn't say our pipeline is robust and there's things in store. >> i think mark is still learning how to be a public company ceo. >> i think that's true. >> and he's nowhere neither level -- he moved very quickly from being a private company ceo to being a public company ceo. he has no experience dealing with shareholders at all, and he's going to get some. >> he'll get grilled this way over and over. >> he also, and sheryl sanberg though i think is as able a deputy as can you have and

people say does he need a parent? >> designated adult? >> exactly, exactly. i think you couldn't have a better other executive in the room to help. >> there he is. i guess that's the hoodie. i guess so. how do you like that? heard of fat finger trades, a story about a lazy finger in germany where a banker, yes, fell asleep at his computer with his finger pressed on the number 2 cautioning an accidental transfer of millions of euros. how would you like to explain that to your boss. apparently fell asleep and it was $200 million got transferred. >> very grateful he's not a surgeon, falling asleep at that job is very bad. fall asleep as a waninger. even the biggest bankers of the world, the federal reserve in the past has made mistaken transfers. i want to know why the guy was so tired. what's going on? might not know the answer to that question but it's wild, $225 million that got

transferred. overdraft protection there. >> able to correct the mistake very quickly, but my theory is that he just really wanted to press the "z" key for zzzzz. >> at least he didn't fall asleep on the number 9. >> that would have been a lot more expensive. >> kayla, john, thank you very much. a unique way to catch a shark, makes you wonder whom was fishing for whom when we come back. stay with us. you make a great team.

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tomorrow, the future of entertainment, ray interviews with icon steven spielberg and how hollywood is change iing markets is. >> a scene right out of the movie "jaws" this week when two new jersey fishermen got the surprise of a lifetime after a mako shark they were trying to reel in turned the tables and nearly caught them instead. the anglers watched in horror, look at size of the animal, suddenly jumped out of water and into their boat and proceeded to eat everything in sight. broom, seat cushions, speakers. bose speakers, ladies and gentlemen, you name it. that shark was going in for the kill. listen to this. >> i look up, and that thing

just does a 15-foot somersault, i mean, just flew out of the water. it was like a moment of silence, and then all of a sudden it just went crazy. >> wow. >> unbelievable, sue. >> i guess they really did need a bigger boat, as they said in "jaws." >> wow. >> i'd never go fishing again. i just wouldn't go fishing again. let's get you up to date on the markets right now. mary thompson has some breaking news as we look at the dow down almost 50 point. mary, over to you. >> the ceo of morgan stanley completing his keynote speech at the financial services conference and raising the guidance for the company's global wealth management business. the pre-tax margins 20% to 22% from the mid-teens they forecast earlier and he's expecting the okay from regulators for the remaining acquisition of the 35% of that joint venture relatively shortly. fixed income and commodities business, he says it's not where they want to be. he says restructuring commodities is a top priority. he says the u.s. economy is on

firmer footing, and he is expecting better trading revenue for the company in the second quarter, in large part because they had a weak second quarter last year. back to you. >> thank you very much. there you see the stock up by 12 cents at this hour. that will do it for this edition of "power lunch." thanks, everybody, for watching. >> we'll see you tomorrow. have a great afternoon. "street signs" begins right now. >> it is a story sending shock waves through the market. big-money investors apparently getting faster access to market-moving data. are mom and pop getting worked over yet again? amazon.com may be a great company but famed investor bob olstein says it's not a great stock. he is here. you're going to find out why he thinks that run is done. plus, jim cramer and herb greenberg engage in a celebrity death match over two high valuation stocks, and live this hour, an exclusive interview with david and jackie ga