there's our worst trade of the day. governor chris christie with jim,fallon on "the tonight show." ♪ born to run >> doing the dad dance. we are definitely long jimmy fallon, but noticing short interest on the governor is definitely rising big time. >> i'm on the other side of that trade. "power lunch" starts right now. halftime is over. "power lunch" and the second half of the trading day starts right now. >> that made me laugh. a lot of cause for concern. jim cramer telling everyone it's time to be cautious. despite that, stocks seem to be finding a way to rise. the industrials up 19 points. not so much, but not the other way. that group link to do al qaeda are now 40 miles from

baghdad. there is new fighting today. shiite clerics telling their followers to take up arms against the approaching sunnis. this is what religious civil war looks like. statement american contractors stuck in iraq are scrambling to get out of the country as fast as they can. we will have their story straight ahead. a new report from the u.s. government says 96% of the shale in one of the country's biggest research areas is unusable. what will that mean for u.s. energy policy. as that crisis in iraq grows, let's take a look at where oil is trading now. brent crude is trading. up about half a%.

bob, you're going first today. how does it feel? >> it's pretty simple. essentially down at the open, but we have drifted to the upside, president made some comments just before noon so the s&p 500 is on the up side. the other key point is you see the nice move up is the transports. at this time so you see a nice recovery in all the transportation sectors. another group that continue toss do with is -- but all of them are on the up side. this is way, way overbought. it just keeping moving up.

alcoa is on the up side, and allegheny tech, there's a upgraded over at bmo. here's a group that is been having trouble all week. we have seen rates move up a bit this week. but not a dramatic move up here. that's something that bears a bit of watching. back to you. >> we will watch it. up down. we're up about eight points on the day. losing steam here. we're up again, as i said about 8 to 9 points. deal flow on. the restaurant online services,

extending beyond travel. a lot of traders also the move. companies that have exposure to the bookings, reservations business, the question is, of course, will other internet companies also find value. intel a big talker today. it was late to mobile, but pc demand, who would have ever -- and we're also seeing a big move in chip stocks. sue? >> seema, thank you very much. mary? >> coming off the highs of the day, germany is seen as japan's mitsubishi heavy industry are set to make a joint offer. this would counter the bid for the assets of the french firm.

and would have the french government taking a stake in al strom. you can see shares recover from the lows of the session. back to you, tyler. >> mary, thank you very much. get ready for higher interest rates. rates in the uk could rise sooner than financial markets suspect. a surprising warning that monetary policy may start to tighten just a bit in the coming months, but it is markets are still trying to decipher exactly what mr. carney meant. most economy experts expect them to increase in the second quarter of next year. the big question here, would the fed follow. european markets under pressure today, following that rate talk. the uk ftse down about 66 points, the british pound hitting a one-year high against the dollar.

sue? >> well, ty, jim cramer advocating a little caution. here's jieff morrow on "mad money" last night. >> the market despises uncertainly, and we have uncertainty from a place we were trying to forget -- iraq. if you have cash, do what we did for my charitable trust today, which you follow looks at actionalert.com. we did nothing. that's right, nothing. i like to stay on the sidelines until we get a modicum of clarity. >> joining us is craig columbus, and in minneapolis, jack brewer, ceo of the brewer group. jack, i'm going to start with you. jack, do you agree with him? >> totally, i think jim is right 09 ball. with the situation in iraq, obviously thing are in turmoil, but right now, with the price of

oil rising a bit, we've been investing pretty heavily in the airline sector, bullish on names like american airlines. we're being cautious, but at the same time we think over the long term, we will get through this, and hopefully the stocks will remain strong. craig, what are you doing in the market at this juncture? last time i talked to you, you were being selective. >> i think patience is a good word. it's positive since we last talked that rates have stabilized. i do respect that growth has been outperformings value. i'm just not fully sold on 4% u.s. growth. and food and energy inflation is sapping some of the consumer strength. we saw that in retail sales yesterday. so patience is a good thing here. >> what stocks, jack -- or rather, what sectors do you like in the market? what sectors do you like in the market? and are you still in the high-yield corporate sector? >> well, yeah, i like high-yield. i still think that's a safe bet,

but right know we're focusing on the emerging markets. they performed incently well for you. we're getting, you know, 9%, 10 p.s%, 11% yield, which is great for our clients. you know, places like india, where i just returned from a trip. i mean politically they're becoming more stable. there's other emerging markets that i think have growth potential, especially when compared to the united states. >> gentlemen, we have to leave it there. thank you very much. good to see you both. sue, check this out. a luxury home dangling over a cliff near ft. worth texas has been set on fire now and destroyed after a part of the cliff the home was sitting on collapsed, fell off. livid i don't, as you see that house intentional set ablaze. officials looked into whether the house could be pulled back by cables. it turned out it want a viable option. the homeowner is -- he's

financially responsible or she, for the clean up debris and remove. the build was built in 2008, and appraised recently as more than $700,000. shiite leaders in iran are telling followers to prepare for fight them. president obama at the white house today, one hour ago, saying u.s. troops are not part of the equation. this is iraq's responsibility. new video now, new fighting on the road to baghdad just a short time ago, president obama also saying the fighting in iraq is the spillover from the civil war in syria. we will talk to a former official from the pentagon in just a moment. michelle caruso-cabrera also following the fighting, and first, though, we go to jane wells a u.s. contractors who are trying to escape the danger in

iraq. >> some sxloiees are become evacuated. lockheed in the process of selling to iraqi, tell cnbc as part of efforts, it is pulling, quote, a small cadre from balad air base. quote, all lockheed martin employees are safe and security at this time. boeing telling us it does not comment on the status of employees overseas. it owns in situ, but the operators to run them in foreign theaters. it's unknown if there's any in situ employees in threatened areas, though there have been employees at balad. "the washington post" reports siemens is working to get about 50 employees out. "ed daily mail" reports that several hundred american contractors still want to leave. mean thai the post reports that

personnel at the embass in baghdad are staying put and protective services like dyncorp saying it won't discuss security measures, but triple canopy says it is monitoring the situation and assuring the safety of our clients and employees. with more on what's happening on the ground, this is obviously a quick-developing situation. >> lightning ped. the government still working on a possible response to the mill tans who overran the second largest city this weekend. president obama spoke last hour about what he is considering as a responsible response. >> they needs to bolster the capabilities of iraqi security forces. we will not be sending u.s. troops back into combat in iraq, but i have asked my national security team to prepare a range of other options that could help support iraq's security forces. i'll be reviewing those options

in the days ahead. >> the days ahead. think about that framework, no rush at this point. we're told there's quiet on the streets of mosul, second largest city, so much so the insurgents could hold a parade in seized vehicles. also, hundreds of thousands of iraqis still fleeing from fear of either american air strikes or fighting that had been going to kurdistan in the northeast. president obama also expressed frustration earlier about the iraqi army's inability to fight off the jihadists. a lot of questions about the capability of that army. this is video from monday. in it you see members of the army dropping their weapons, then filming the fire fight on their cell phones. generally they'll tell you that's not a good signs. and iraqi uniforms piled up oiling. they stripped them off after fleeing from the posts in order to better blend in with the

civilians. clear lir a lot of questions about the capability of the iraqi army. we're going to bring in a guest. >> kathleen hicks from the center for strategic and international studies. they previously served as undersecretary. good to have you here. is it too soon to say, basically it was a mistake for u.s. soldier toss leave? do you agree with that or not? >> i don't think that's the biggest issue right now. i think the issue is looking forward and how to deal with the issue. and possibly could continue on to jordan. that's the name of the game for the united states right now, is how it works with the regional allies to try to start to shore up the security in the region. >> it's my understanding that you believe from the short term that iraq's borders are moot. the sunni group is in charge from syria into iraq territory

the is it possible for iraq to be glued back together again? or is it going to be the next syria with this seemingly endless civil war? >> i think it's much too soon to determine what the long-term end state for iraq is, but i absolutely believe in the northern part of the iraq the kurds will believe their security is best pushed up by their own forces. i do think the border between syria and iraq is very much fluid at the moment. it would be hard to close that border back down. >> what about iraq? what are they likely to do? the iranians are already senting revolutionary guard into iraq. we're seeing that now, to assist the iraqi government. i think the united states and iran are going to need, if they're not already, will be needing to have direct conversationses behind the scenes about how, believe it or not, they work together to try to start to stem down the violence inside iraq and

particularly to protect baghdad. >> this is an untidy situation, isn't it, kathleen? >> that is an understatement. it's a very untidy situation. that's true, again, throughout the middle east. certainly we have seen that in syria. i think the fact that it's coming to iraq brings it home for americans, just say that the u.s. is finding itself in a position where it may need to be speaking to and cooperating with iran showing you how sun controlled the situation is. kathleen, thank you very much. michelle, thanks to you as well. just outlined, ty, clearly a lot of problems. ran insanta may have a solution that will have you kicking yourself. >> a relatively easy way to make all these opec problems go away. possibly become less of an issue for the united states. it can't effectively go away with the stroke of a fen if we get a little will in washington. >> that's a tall order. we'll fill you in in two minutes. so i can reach ally bank 24/7 but there are no branches?

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once we'll show you the video of this how many bakley dangling over a cliff there in ft. worth. they tried to pull the home back, the cliff sort of collapsed, they tried to pull it back. what were they left to do? well, burn it to the ground. the homeowner apparently responsibility for the cleanup.

>> just sad. it's a beautiful home. >> a lovely home with a lovely view, but when you -- when you build precariously sometimes it doesn't work out. >> listen. >> you californians. >> i know, we build on almost everybody. mary thompson, always on solid ground, has a market flash. >> we can't which check out shares of valiant. they want a call next week to deal with allegations -- now, earlier pershing square asked the court to called for a meeting to remove host of allergan's board wouldn't -- trading down just 0.6 of a%. . i'm going to send it back to ron -- or sue, who probably knows the correction pronunciation. i think you're right either way. ron insanta writing a piece, to

combat all the instable in the oil markets that stems from the opecs company. ron penned the note, if combined, the resource could easily change the dynamics, and in the geopolitical sphere as well. ron joins us now on the set. it's a novel and great idea. you just wonder whether or not this particular situation in iraq might just be the trigger that makes those discussions begin. >> goldman sachs held a north american summit this week, so you have a white shoe firm running the summit, but you don't have the white house leading one. that disturbed me to the extent -- this goes back 40 years we've not had a contingent policy since the embargo 40 years ago, so it does mant

sense. i don't understand why president obama doesn't invite steven harper, and president nieto up here to figure out how to pool our resources to make us moreself sufficient, if not independent, and create a bulwark against those countries, russia, ukraine, all these places where we're having difficulty. >> you brought up russia. two months ago we were all focused on the situation in russia. now iraq has superseded that certainly. so we have two geopolitical instability points around the world. >> and venezuela. >> if you want to add that into it. how much of that, though, if indeed those summits did occur, is dependent on washington xwra embracing it. >> it should make sense. we're not exactly in a bipartisan atmosphere in the united states. >> you don't think?

>> i don't think, and that's not a partisan statement to make. i'm just saying that's the reality. >> that's the way it is now. >> an energy summit can be done at the executive level. whether or not it becomes a treaty like nafta is an entirely different situation, but they should be contemplating ways, given that canada has surplus oil, mexico has fracking opportunities, even if ours are not limited but, you know, to a certain extent constrained. this is the type of thing to me that makes sense and again has geopolitical consequences, as well as economic consequences. >> that's what i see hoar. it's a national security argument, because the more we are prone to being whipsawed by events and have to spend national treasure to go over and stabilize a region of the world from frankly people don't like us very much, that's a problem long term and has been a problem historically units it's more than past the time in which the united states, in addition to

exploring alternatives, but they'll never make up the different between the output we see. we haven't touched the north atlantic there. there's so many ways that the u.s., canada and mexico could work together to advance technology, increase output, explore other -- that it will make sense to create an organization called nopec that would allow us to say no to other oil producers. >> it's an interesting article, and you can read it on cnbc.com. jane wells reporting now that a huge chunk of shale we were counting on for energy won't work. she's live in l.a. >> hi, tyler, there is a california oil boom, but the outlook was not as bright as some anticipated, this from an energy analyst, the monterey shale may hold roughly half the convince at oil that saudi arabia has, maybe, but hardly any of it is recoverable.

the u.s. energy information administration has, quote, cleaned the data, and it's disappointing, after initially suggesting that more than 15 barrels could be recovered from the shale, using existing technology, they now believe the number of recoverable aisle barrels could be 0.6 billion, instead of four or five times the potential offal bakken, not so much. it says the thermally mature area of the shale is the 0% smaller than previously thought, in an area of tectonic plates with significant fractures, allowing leak, and it's not overpressured and lacks the gas drive. and the agency said exploring forred that i faces significant economic challenges. that's not even counting the regulatory challenges for fracking in california. sue? >> what do you think, ron? >> this story was leaked a

couple weeks ago earp there were some energy experts talking about how technology may ultimate -- five years ago we were talking about peak oil theory, and then the shale revolution started with fracking and horizontal drilling becoming more and more usable, so there are questions to whether or not there is another technological fix here, but again underscores the need for the u.s. and north america broadly speaking to work together and explore the resources we have. >> what's interesting about the monterey shale here, chevron from the get-go wasn't putting some faith in it, very little compared to others. chevron didn't think there was a lot there, and apparently at this point chevron is correct. >> jane, thank you. old-school cnbc around the table and in california. another ignition switch recall. phil lebeau has the details. what now? >> this one impacts a

high-profile vehicle. we're talking about the chevy camaro, 2010 through 2014 years. the problem is one that we've heard about with the big recalls earlier this year. gm recalling 511,000, 528 chevy camaros, the driver's fees may bump into the keys, that could push the key back into the run position. similar to the problem we saw earlier this year with the defective ignition switches, but gim is quick to point out while similar, it is unrelated to the other recalls. here as the total number of recalls this year, 38 in all, impacting 16.48 million vehicles. now, a number of those recalls are maybe for 100 or a couple thousand models, but several are more than 1 million vehicles, the biggest being the 2.6 million being recalled earlier this year for defective ignition switches. general motors is in the process

but slowly, but as quickly as possible fixing those switches. ceo maria barra will be back on capitol hill next wednesday testifying not only on the internal investigation, but on the company's efforts to move past this recall, and to be a company that is focused first on safety, as that is their primary focus. guys, that's the latest. back to you. >> thank you very much, phil. it's almost a $60 billion business, growing, and turning into a major battleground. meg tirrell is looking at what's at stake. >> some of the world's biggest drug makers are competing. which companies have the edge? we'll have that story, next. you? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old.

i'm going to have to rethink this thing. it's hard to imagine how much we'll need for a retirement that could last 30 years or more. so maybe we need to approach things differently, if we want to be ready for a longer retirement. ♪ type 2 diabetes effects millions of us. and for many, it's a struggle to keep your a1c down. so imagine -- what if there was a new class of medicine that works differently to lower blood sugar? imagine...loving your numbers. introducing once-daily invokana®. it's the first of a new kind of prescription medicine that's used along with diet and exercise to lower blood sugar in adults with type 2 diabetes. invokana® is a once-daily pill that works around the clock to help lower a1c. here's how. the kidneys allow sugar to be absorbed back into the body. invokana® reduces the amount of sugar allowed back in and sends some sugar out through the process of urination. and while it's not for weight loss,

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it's time. lower your blood sugar with invokana®. imagine loving your numbers. ask your doctor about invokana®. we've been watching this all hour. a luxury house has been set on fire intentionally after part of the cliff that the home was sitting on fell off. officials looked a about the possibility of pulling back the house, but it wasn't possible. the owner will be responsible to the costs. the house appraised at more than $700,000, and there you see pieces of it collapsing, some going down the clip that

impaired the house in the first place. mary thompson now, market flash. hey there, tyler, checking out utilities, though one of the worst performs sectors for the week. dow jones industrial average utility index. the shares, the ppl, as well as sempra, all of them in the green today. some head likes for you right now. alcoa sharply higher. expect the aluminum prices and demands to rise. raising the 12-month price targets. shares of the retailer express also sharply higher. and says it might be interested in acquiring it. steve says express could go private for up to about $24.50. last trade of 16.38.

the company halting early stage trial tests. due to concerns about bone damage. got prices closing right now. with all the unrest in the middle east, we have seen a bid under gold. a bit of a bid today, but not all that much. the biggest decline is in palladium and platinum, both of which have a 0.7% move to the down side. you and -- tgif. >> hi, sue. as i look at interest rands, if i look at a two-day chart, big move yesterday. and today actually the surprise was when yields crepe up a bit. open that chart up, and we'll

probably spend time -- it's been all about mr. carney, the artful mr. carney, talking about maybe raising rates. it had an immediate effect on the guilty. and probably one of the reasons we saw a bit of selling in treasuries early. if you look at the foreign exchange side, these are close to five-years highs, at least on an intraday basis, but it has eased off, still showing the 6th of may. tyler, back to you. >> i got the artful karney there. i got it. happy father's day, rick. for next week's trading, plus priceline, that will buy you a lot of tables. if all reservations are automated, is that good?

we'll give you the answers in a bit. we'll be right back.

according to dutch media,

dozens of dutch soccer fans were pickpocketed while watching last night's world cup opener. they were watching the game in a big crowned in the brazilian city of salvador. one says a gold necklace was snatched around his neck. later netherlands plays against spain. mary? >> tyler, we're looking at the big winners on the s&p today, at international game technologies, this on a reuters report that it's drawn takeovers from a number of parties. in the meantime, inintel, hewlett pack and consol energy and rounding occupy the top five. sue, back to you. mary, thank you. time for another check on the trading. bob, we're still holding on to green? >> we opened up, down, and we drifted higher. this is meandering around on the

day, as long as oil is stable, the market is relatively stable. the drift is to the positive side right now. energy stocks yesterday had a nice day on the up side, once again, no matter whether you're in oil services, or one of the big oil companies themselves like occidental, all the to the up side. transport airlines down 4, 5%, truckers are up, barry was mentioning the semiconnector stocks. right across the board semis have been a big winner all year. they've been moving up in the etfs associated with this you the new highs. while not all interest rate sensitive stocks are under pressure, four out of the last five have been to the down side. sue, back to you. >> thank you, bob. seema mody has a check for us. >> you know, a cautious mood on wall street due to concerns around the escalating tensions

on iraq, but we are seeing the nasdaq slightly higher on the day, but off of the highs of the day. intel providing a nice lift. in fact the best performing stock on the nasdaq 1200. several analysts upgrading shares, citing pc demand, other large-cap tech stocks getting a bit. a big mover hoar is finisar, a fiber-optic networking player. that's why you're seeing the stock get hit. and it's the u.s. under of a spanish renewable and -- raising money on its ipo. on track to end down for the week as the violence in iraq escalates. with es is contributors kenny polcari and jeff kill burg. what are you seeing, kenny? it's a difficult situation. >> it is a difficult situation.

what i'm feeling is a bit of cautious. there's a bit of a bounce. you see oil, like bod said, it's treading there, not really moving higher, so that's a bit of a lift and rebound as people do some bargain hunting, but it's a very, very quiet session. people, you know, i'm waiting to see how the day ends. there could be a lot to be unsaid, right? so it just feels carb. >> jeff, how do you trade it then? or do you? >> i think you do. kenny is right. ed traders are talking about complacency, but i think thinks the most exciting time. this is june, quarter end, the fed meeting next week. this is the best time in the world to evaluate your portfolios. we like owning volatility. a lot of the volatility-societied etns if lack the correlation.

i love "power lunch", we watch the armor funds this week, more official tore long volatility. you just need more protection today. and we thank you for launching it here on power. thanks, jeff. kenny, thank you. ty, over to you. >> all right. the diabetes market brings in $54 billion, the association starting a key conference today, meg tirrell looking at stocks behind the big diabetes fighters. big, big mark. >> and growing, tyler. it's an important weekend for companies like san ofee, eli lilly, and astrazeneca, all expected to be affected by the data being presented. diabetes is a huge disease, it's growing, worldwide, 347 million people have it, according to the world health organization. in the u.s., 29 million people do. it's the 7th leading cause of death. it's also a big battleground for drug makers, competing for a

piece of the market worth $54 billion and growing by as much as $5 billion a career. current currently now, analysts say keen data at the meeting will have big implications for san ofee's $6 billion a year lantis, and a med addition is coming occupy, and astrazeneca is currently not even in the top ten drub maker worldwide, but it would reach dibeads sales by 2023. it will be the second major showcase since it escaped pfizer's bid to buy it last month. all eyes will continue to be on astrazeneca to see if it can deliver. back to you. >> i'll step in, come back to wherever i was, you know, getting lunch. >> thanks, meg. the deal of the day that

will make your life more automated. is the pc making a comeback? and google getting fit. the power rundown is next. plus home buyers who went through foreclosure are buying again, with credit. diana olick has the story. hi, di. >> hi, ty. it's not like the old days when you didn't need a.to get a mortgage, but the wait time after four closure to get back into ownership is shrinking dramatically. i'll tell you how, after this. having the cloud allows us to rapid prototype a lot of ideas. being able to pay as we go is crucial for a start up.

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[ whirring ] [ train whistle blows ] my dad makes trains that are friends with trees. [ train whistle blows ] ♪ my dad works at ge. ♪ the stock is plummeting on that it lost the first round of a patent case. the company is seeking royalty on sales. little trading little changed. down about a penny. sue, back to you. >> mary, thanks very much. we are continuing to follow this still developing story, what was once an absolutely stunning home

in% worth, texas right on a lake. they tried to pull the house back once, but they weren't able to do that. as furse erosion occurred, they decided to basically abandon the house, the only way to keep it from falling into the lake, which they did not want to do because of the debris and also some of the materials used in the house, they didn't want that in the lake. they obviously have burned it and the homeowner gets to pay for that. a sad situation all the way around. speaking of hows, this is a bit better story. home buyers who went through foreclosure are back in a big way. diana has the details. >> alternates more optimistic. credit is tighter than it was during the housing boom, but what if i told you there are home buyers getting mortgages, buying homes just one year after

losing their last home to foreclosure? we see a lot of the boomerang buyers, good 20% of my children clientele has suffered a short sale or four color and are now buying back into the marketplace. >> they're using a program launched last summer by government, the fha. it shorten the waiting period after foreclosure from three years to one, the borrower does need to show they lost at least 20% of household income for at least six months and that cause the the loss of the previous home, then they have to show they recovered can satisfactory credit for a minimum of that one near. these are fully documented loans showing employment and other debt, but you can get a new loan at just 3.5% down and a competitive rate. linda van doren did. >> it's mine. i can do what i want to do. i love it. i come to work and i know what

i'm working for. >> reporter: she bought her tampa area home last summer after waiting three years. fannie mae still requires a seven-year wait. just for a little perspective, it is a tiny fraction of the around 7 million homes that were lost to foreclosure or short sale since 2007. more online, realtycheck.cnbc.com. tyler? >> thanks very much, diana. julia boorstin, jon fortt, priceline buying opentable. 2.6 billion, $103 a share. yahoo finance question of the day we asked if all reservations aren't made, is that good? 13% said yesterday, 14% said no. julia, what do you think on this? >> i think priceline is trying to buy growth. it makes sense. open table has 15 million people using the platform every month, those are people perhaps being

lured over to priceline and 31,000 restaurants locked into their system. i think there's a huge potential for synergy, cross-promotion, and particularly overseas and on mobile devices. >> i used it, i like it, it works for me. world's biggest chip maker boosting outlook. jon, the death of the pc exaggerated? >> alternates bit, but hey, it's still dying out. you can't put too much on this. this is business pcs. businesses have been holding on off on buying pcs for too long. tablets aren't good enough to replace that productivity, but don't rest on your laurels on this one. >> reports that google is planning to launch a new health service aptly called google fit. i have my fitbit says i walk about 18 steps all day. i've been sitting on my joey fat one there for a while. what is the -- >> tyler, i think this fitness

space. i tried out the other devices. it's clearly a huge space, but a tip of theitis berg, but it's a crowded space. samsung, apple launching what sounds like a competitor service to what google is trying to do. i think it remains to be seen if you need -- if you can just go to your fitbit app. or jawbone, and track it on your own. >> jon, the fittest man i know. hey, it remains to be seen. sure, the opportunity is as huge as our waistlines have become in america, but they have to be careful to not make this like the nanny, how many steps did you walk today? or else people will take -- >> love my fitbit, frankly. all right, guys, kevin mckathy seems set to take over the job of house majority leader after eric cantor's surprising defeat. a look at the man who may have gop behind him in report time.

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that corporate trial by fire when every slacker gets his due. and yet, there's someone around the office who hasn't had a performance review in a while. someone whose poor performance is slowing down the entire organization. i'm looking at you phone company dsl. check your speed. see how fast your internet can be. switch now and add voice and tv for $34.90. comcast business built for business. kevin mccarthy is apparently on track to take over the job of

our john harwood is in washington. you know, he got the establishment behind him in pretty much record time, john. how did he do that? >> had el did, suit. republicans are still sorting out the aftereffects of eric cantor's very surprising defeat in that primary. just before i calm on the air, raul labrador, a puerto rican by birth, now a congressman from the state of idaho, announced he was going to challenge kitchen mccarthy for the job, but it's late. others have dropped out. it look lie kevin mccarthy is in a solid position in this race. he comes from california, a blue state, but the most conservative republican districts in that blue state. he ran a deli before he got into politics. he worked as an aide to bill thomas, chair of the ways and means committee from the state of california. then when bill thomas retired, mccarthy was eselected he's currently the whip. that makes hinge sort of an

incumbent in the race, and the job of the whip is counting votes. second of all there's a desire monday some republicans for stability. john boehner has emphasized that. annual phily he has an affable, genu genual, and there are other races down, ballot, if you will, for the whip's job that kevin mccarthy is given up. steve scaleese is a candidate for that, and there will be others as well, but republicans are in a state of disarray. they're going to try to sort it out this week and next week, next thursday. the reason they wanted to do that quickly, as they head toward the midterm election, sue, they want their ducks in a row, both donors, actists and

present a united face. >> absolutely. it will be interesting on the weekend talk shows. thanks. three winners in today's market. that's straight ahead. let's see what's coming up on "street signs." brian? the legendary boone pickens is here. we'll talk about whether or not iraq will -- but who might come out the winner on that? even the fda is starting to push back about all the kids that are being prescribed drugs for adhd. plus herb greenberg, kind of like the skiff from the life cereal commercials, herb actually has a stock he is waving the green flag on. a herb greenberg favorites coming up on this show. "power lunch" is back right after the brea. break. . . the fact is, it comes standard with an engine that's been called the benchmark of its class. really, guys, i thought... it also has more rear legroom than other midsize sedans. and the volkswagen passat has a lower starting price than...

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dad: he's our broker. he helps? look after all our money. kid: do you pay him? dad: of course. kid: how much? dad: i don't know exactly. kid: what if you're not happy? does he have to pay you back?

dad: nope. kid: why not? dad: it doesn't work that way. kid: why not? vo: are you asking enough questions about the way your wealth is managed? wealth management at charles schwab. welcome back. the stock is at session highs after positive data on the treatment of mile my loma. the shares are trading up, at 38.50. sue, back to you. >> nice if you've got that kind of stock in your portfolio. thanks, mary. the markets are in the green a bit, but we're going into a

weekend, we have unrest in the middle east, that has people a little nervous. tloo winners -- hewlett pack and, alcoa and consol energy. >> have a good weekend. happy father's day. thank you. "street signs" begins right now. will america every really see energy independence? the growing civil war in iraq, showing just how dependent we still are. hi, everybody. the legendary boone pickens is with us. he'll give us his take in moments. is iraq, the so-called black swan that so many people have been waiting for? we're going to handicap some of the risks, where is the tech innovation? no more app.s. we demand a flying car, right now.