>> we do have to start with the markets, stocks in the red off the lows. dow down 84 as we said, s&p 1974 coming after the stock market was either up or down 100 points every single day of last week. haven't done that. dow has triple digit moves the lasts eight out of ten sessions. joining us at post nine, john fortt, kayla tausche, john stein and we'll keep an eye. art cashin telling us coming off an expiration friday you tend to get a dip, about 3 to 5%. we'll see whether all that supply from alibaba, for instance, that cramer was mentioning means the market in cramer's word has to cool it off a little bit. >> but that's a specific type of money manager a large cap tech stock holder. what is interesting to a lot of

people the move in the russell. a big story in the "wall street journal" about the russell valuation. forward earnings about 20 times which is much richer than the valuation for the overall market and the russell does tend to take a more serious cool off period when the market does pull back and the russell even as we're seeing, the firming in the overall stock market, that's not seeing the bounce we're seeing overall. theres is this expectation maybe small caps as well as the bond market could continue to diverge. >> data hasn't been too bad. personal income and spending was good. in real terms spending the best number in about five months. in the world of tech first up apple under investigation in europe over allegations the company got illegal state aid in exchange for promising to bring jobs to ireland. the ft reporting this is based on an investigation into tax deals and apple could be forced to pay billions in back tax. apple denying wrongdoing saying it was only following established tax laws. if they were here they would say when you're big you're a target. seems like every day there's

some medal in their side. >> the equivalent of us being perhaps forced to pay hundreds of dollars in back taxes the way this shakes out. what i'm hearing on apple's side they're pragmatic about this. realize there's a lot of cash out there and governments are trying to figure out how to get their hands on it and it's more a question of who figures it out first. apple has its own position about how it has paid the fair amount of taxes under eu law. at a certain point this becomes a case of governments trying to get their hands on the certain pool of cash first and we'll see who gets it. >> this is an interesting case. it involves comfort letters which ireland sent letters to apple telling them how they could transfer price certain products, they moved back and forth between subsidiaries. if ireland gave a special comfort letter or inducement to apple compared to other competitors that would be viewed as an unfair advantage apple was given. this is not about the servers in ireland or the 4,000 employees

there and selling it in another country. this is a specific thing being investigated. >> bend gate continues. consumer reports did their study. this outperformed the htc 1 in terms of bending. 90 pounds of pressure. >> i think bend gate is over. this was always about in regular just sort of normal use, are these phones going to bend and my position was once the third party comes out with test results we'll look at those and see what case is. apple said nine people had complained of this by the time bend gate was peaking around thursday, friday, now late friday, we got this "consumer reports" test that said this is in line with other phones constructed similarly and apple is better positioned to handle consumer problems because of its network of apple retail stores. i think this story is dead for now. >> i think bend gate is nonsense. the ios 8.01 which came out

which messed up people's phones was a real issue. everybody knows iphones are fundamentally delegate. everybody drops them, cracks them, everybody has -- that's an overarching issue. whether or not it bends is a very esoteric random thing. >> i think there's bend gate fatigue around the world but we'll get more later in the hour. meantime after making billions on the alibaba ipo, smmassa sons said to be looking into entertainment. sprint in talks to buy dreamworks the deal has been rumored to be about worth $3.4 billion. shares of dreamworks are surging something it hasn't done lately in large part because things like "turbo" and "mr. peabody" were duds. >> the dreamworks 52-week high, even with the surge, we're far below the levels dreamworks was able to touch in the last year. neither massa or softbank sold

shares in the alibaba ipo. not as if they are coming into a big war chest of money and they want to do something with it. this is really more about softbank's desires to be more active in the u.s. and get some sort of content stronghold for their distribution. >> aren't they feeling richer? like when your house value goes up 100, 200%. >> sure. >> you feel like you have some walking around money. buy some shrek. >> but their stake is worth $70 billion. dreamworks would be a $3.5 billion deal. not to say that -- >> a new car. >> look, what i like about this, this is very personal to me, which is content. content was so undervalued in the market, certainly in the start-up ecosystem for years and years. everybody was obsessed with infrastructure. they were obsessed with social networks, wireless carriers, pipes and everybody got these pipes and what do you actually push through it? if you look at the dreamworks catalog, between "shrek" and the classic where he has "casper the friendly ghost" and "lassie," there's a bunch of stuff in there for $2.2 billion, kayla

you're saying $3.5 billion to take it out. >> debt included as well. >> it's hard for them basically and something to push through the pipes. >> although as i asked faber in the 9:00 a.m., is massa flailing looking for anything, not t mobile, music, dreamworks, wants something american? >> you have to put that cash into something. that's a fair point. can't just sit on it otherwise they make you give it back. he's someone who wants to build something giant. buying dreamworks he can do a lot. >> anyone who doubts softbank's presence in the u.s., go to union station which is covered in softbank ads. some would argue that's part of the regulatory front they were putting up when trying to buy t mobile. they've done an advertising push to get consumers familiar with that name. >> you can't buy product ps in the u.s. >> it seems like it's important to have content in your portfolio for negotiating leverage. so many arenas whether talking distribution, whether you're

talking other kinds of content deals, dealing with netflix, everybody has to do these days. >> does a dreamworks/softbank deal have naconcern aurora written over it, the ceo of softbank's media practice, the vice chairman of the company, the chief business officer of google before it did the youtube deal. a lot saying this is his first foray. >> bought a youtube channel, brian roberts awesomeness tv, a kind of high-profile, small but high-profile channel that concern would have been around that hubbub. that's a decent point. >> quick programming note by the way. tomorrow, a first on cnbc interview with the chief of oracle, mark hurd, first broadcast interview since taking over that job from larry ellison tomorrow at 11:00 a.m. eastern time. want to switch gears and take a look at these pictures out of hong kong. thousands of protesters taking to the streets in the region's worst unrest since returning to chinese control back in 1997. our susan lee is in hong kong

with the latest. >> the streets of hong kong are flooded once again with protesters more than the 80,000 estimated to have taken the streets over the weekend and they have virtually shut down the fifth largest international market in the world. now what made the international community really take notice wases escalation in the confrontation from the hong kong riot police and hong kong government firing in tear gas and pepper spray at the crowds yesterday, which we haven't seen since the handover from the uk back to china in 1997. at one point the riot police saying disperse or we will fire. speculation amongst the crowd was there are rubber bullets to be shot. we don't have confirmation of that. harks back to 1989. the reason for this, this is pepts to be a peaceful student movement for democracy in hong kong and people can't help but make the comparison of the tanks rolling into beijing in 1989. looks like the movement has been

rewarded with a softening stance from the hong kong government. the second in command, the chief secretary tonight, has told the people of hong kong they will take a second look at the hard stance from beijing and hopefully a look at the right for hong kongers to vote for their leaders in the future. given the chaos we are seeing in the city that might take some time. >> susan li. when we come back facebook announcing a move to take on google. what you need to know. the final verdict on this question, do the iphone 6 and 6 plus bend. "consumer reports" will join us with the answer. sin city the next silicon valley. the growing tech scene in las vegas when "squawk alley" continues in a moment. ♪ mr. daniels. mr. daniels. look at this. what's this? clicks are off the charts. yeah. yoshi, we're back. yes, sir! ♪

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facebook is expanding its ad business and taking a major shot at google along the way. julia boorstin is live in ad week at new york city with the details. >> kayla, that's right. facebook is making its big and long anticipated move to grow its reach and take on google's double click. the atlas advertiser tools it's launching today will allow advertisers to track and measure who's seeing what ads. the impact of their campaigns, not just on facebook, and not just across browsers but across all devices. that's the key differentiator.

facebook is positioned to do this because it can tie people to their facebook profiles on every different devices especially the mobile ones. facebook says it should help marketers connect what on-line ads people see and store purchases they make. they plan to use atlas to help markers buy ad space in addition to serve and track ads with it competing with google which controls about a third of on-line ad sales using its data as well to target ads on third party sites. google does not have the mobile targeting ability that facebook does. now facebook has gotten some big names on board for its atlas 3 launch including the second largest ad conglomerate and brands pepsi and intel. we spoke with wpp's ceo. he warned that facebook could push advertisers to buy more facebook ads as opposed to just buying across the options on the web and as for those privacy

concerns which are sure to come up as there are when you talk about ad tracking, atlas does say people can opt out of its ads. we have to watch an see if advertisers feel they're being directed to facebook as opposed to others. >> thanks so much for that update, julia. big development for facebook john stein berg, recode said if you are worried about facebook using your data you shouldn't be on facebook or the internet for that matter. how big of a deal is this for the company? >> i think it's a very big deal because of the off-line conversion. facebook put on the site today 94s% of goods are still bought off line because facebook has your name, e-mail address, phone number, all that information, they should then be able to match you off line if you go and buy a cpg, a beverage, something of that nature at a grocery store. that's a big deal. as a publisher i'm excited and concerned. excited because it should be able to show me ad effectiveness if i run ads and use facebook data to target users and show off-line conversion.

nervous because facebook is more in the driver's seat. take my users and target them all over the place. about the data and the data. >> do you expect the take up from other partners, other venders, to be quick or do you expect it to be slower as they wait to see whether this technology bears fruit? >> the announcement was interesting and julia's interview was interesting. having just omnicom in the launch and not wwp is very surprising. i think it speaks to the reticence that agencies and publishers will have about giving facebook this much power. if you can play google and facebook off each other as a publisher and brand it can be powerful. >> might it also partly be the college effect of facebook starts off just there, you can't wait until it gets to your college, more likely to jump and use it enthusiastically once you can. if they open it up narrowly do they restrict the numbers of criticisms and questions they get and get people saying let me in. >> that's right. pepsi is a great test case.

it's all off-line conversion. no one is buying a pepsi on the internet. the scale is massive there. i would expect three months down the line they come up with some report that pepsi beverage purchases were up x percent as a result of the facebook adds. >> telegraphed for a while, conversation nowhere close to over. we'll continue to watch this development. speaking of facebook we learned today instagram co-founder and ceo kevin sisstrom will join walmart's board working on walmart's technology and e-commerce committee. not the only tech executive on the board. yahoo!'s marissa mayer joined in 2012. interesting that a retailer as big as walmart has an e-commerce and technology committee. e-commerce just 3% of the company's revenue. clearly wants to grow that. >> the person that came to mind, sheryl sandberg and her team take a trip to paib. walmart is the hardest advert e advertiser to get on board. i've never gotten them in my career. you're going to get amazon. amazon will advertise with

everybody. walmart is hard. kevin goes on the board. couldn't be a more important relationship for facebook. >> sistrom told me he was in high school during the dotcom bust. interesting. 30 years old on walmart's board. >> instagram account 44,000 followers. maybe will grow that too. >> can't get much smaller. good to see you as always. >> when we come back according to the ceo of zappa, sin city is the next silicon valley, he'll tell us why when "squawk alley"s comes back. ♪ ms? i sure hope so. with healthcare costs, who knows. umm... everyone has retirement questions. so ameriprise created the exclusive confident retirement approach. now you and your ameripise advisor.... can get the real answers you need. start building your confident retirement today.

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we've been under pressure stateside although we are off the lows and europe will close in the red. simon? >> there is a lot of red around. in particular point out how badly greek stocks are doing again today down 3% on the session overall. greek greece is one of the great outperformers last year but the greek index is down over 9% year to date. we were talking about selling of them earlier on this side of the

pond. that clearly may be occurring in europe. much greater concern to most people will be the second largest market in europe, the german dax is now below its 50 and 00 day moving averages. the move on the week is a loss there of 3.5%. bear that in mind. as far as today's trade is concerned, the banks have been weighing on the markets overall, still heavyweights within group. commerce looks as if it has a money laundering aspect to the investigations in the united states with authorities and these guys, hsbc are moving it would appear because of what is happening in hong kong where they have had to close branches today and redirect some of the staff because of the protests. i should mention one of the big construction firms in the uk issued now its fifth profit warning. the stock has lost a third of its value within just the past year. which finally brings us to the big event of the week in europe the european central bank meeting on thursday and the inevitable speculation that

surrounds that. the euro is relatively stable above 1.71, 1.27 having fallen 8.5%, of course, from the highs. interesting comment late friday from the latvian governor on the ecb suggest yes, they're thinking about qe but don't wants losses on anything they buy. they will be careful on the assets they buy which may reduce their ability and wanted to demonstrate the problem in europe is not the european central bank actually creating money. more a question of what governments have to do which seems very odd that they would be pushed into qe really to demonstrate to the politicians that it's now their problem to sort out europe. >> all right. thanks for that, simon. very interesting. we will continue to watch europe throughout the rest of the week. it's been leading the way the u.s. has been trading for some time. meanwhile, could downtown las vegas be the next silicon valley? zap po's ceo is betting the area could be not just an incubator

for tech startups but small business. cnbc and recode got an exclusive tour of his vision in progress. we're having issues with the package but we have re/code on set with us. good to see you. this is a fascinating story. you're saying that zap pose and its leader tony is building what you call the great american tech tope ya. >> yes. vegas inheerntsly has assets a start-up could use. has a service culture and so for a customer service focus start-up, there's call centers and people to hire. it's international access because if you're a true person start-up looking to do a lot of international business, people come to las vegas more than let's say palo alto or something like that. so what tony shay is doing is

building on that and creating sort of a very cool and interesting start-up real estate development. >> you liken it to a college dorm. is it more real estate? more intellectual? what is the experiment actually entail? >> it's both. it's sort of an all-encompassing lifestyle he's building. real estate, it's a venture fund. $350 million into building sort of a city from a blank slate. there are elements of the college dorm. an entrepreneur dorm, took an old casino run down and converted it into a dorm for entrepreneurs and all sorts of things like that. >> is he doing this single handily or people in the valley who are sort of encouraging him, pushing him on? >> it's really around him and around his personal funding behind this. he moved zappos to headquarter in henderson and then now into the old las vegas city hall.

but this is his own money and this is his own vision. very much his vision. it's quirky and whimcle. >> tony. >> he loves llamas and building the city in the shape of a llama. like an aerial shot of the city is a llama shape. >> i hope we have some images of that. we have your package. so we'll take a look at tony shay's vision for this great american tech topia. take a look. >> downtown las vegas is transforming. >> this contain. >> reporter: thanks to a $350 million investment from tony shay and some of his friends. >> let's go inside. >> all right. let's go. >> reporter: inside, 40 used shipping containers transformed into small businesses. restaurants, bars, art installations, and a playground for kids, big and small. it's just one part of tony's ultimate vision, turning this once notorious part of sin city into start-up city. where we are right now used to

be a pretty seedy and notorious motel. >> stayed here a lot? >> and now it's a start-up office? >> yeah. pretty cool. >> this is the home of order with me.com. just one of the many start-ups tony has enticed into the area just two and a half years into his downtown revitalization project. is this successful? is it working? is it sustainable? >> i would think of it as any other start-up, great days and challenging days. >> one of the biggest challenges? convincing people downtown vegas is hip. coffee shops, theaters and secret bars have helping. >> have you made this consense of vegas wild party and downtown project have its own identity. >> getting the word out to the right people. not us changing the vibe. it was a vibe that already existed and i guess i think of it as more just amplifying it or helping get the word out.

>> very interesting look. a motel turned into a start-up office. >> i mean, this is fantastic, but we should be careful about comparing it too much to silicon valley. it's a combination of venture capital, of universities, all kinds of things that makes that environment what it is. vegas has a while to go, right? >> yes. and there have been challenges. real challenges. a lot of the startups if they do really well their next round of funds comes from the valley and they move to silicon valley. and then some of the startups like this one that was a really sort of major one that president obama signaled out as a sign of american ingenuity, was supposed to be a manufacturing center in downtown las vegas and they sort of shut it down with little explanation of why. it's hard when you have something built so strongly around one individual and one vision, if that vision changes. >> but they are starting them

early in your piece on re/code you talk about a preschool for entrepreneurs. >> the preschool is my favorite. >> fascinating stuff. more on re/code for our viewers interested in the story. good stuff. >> when we come back alibaba option starts trading this morning but not helping the stock much, down almost 2% today down to below 89. is now a good time to start thinking about buying? "shark tank's" kevin o'leary will weigh in when "squawk alley" comes right back. there's a difference when you trade with fidelity. one you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade, we looked for the best price, and the trade went through. do the other guys guarantee that? didn't think so. open an account and find more of the expertise you need

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a new way to bet on alibaba begins today as the stock options go live for trading. what cou need to know to capi l capitalize on that. "shark tank" investor and chairman of o'leary funds kevin o'leary joins us once again. great to have you back. we were talking ate the level of institutional buying has been surprising. >> rares the company would come out of the gate with no trading and find institutional buyers, big guys, mutual fund companies, pension plans, taking it to a 5% waiting in their fund portfolios. it's sucking the air out of tech. you have to reallocate, selling google, maybe some apple, whatever else you have, to give this thing a full waiting and you're feeling comfortable because the volatility is low

with a stock trading with a crazy p/e. i find that extraordinary. it's a first to see this happen. >> options are active for post-ipo options because you have a few specific events. the first earnings report as a public company, the lockups from the executives and yahoo! a year down the road. you have these lines in the sand that investors are basically waiting for and watching. but on the whole, kevin, if you were trading in alibaba, what would you do with options at this point? you say you normally like to wait four quarterses before getting involved in an ipo? >> i don't own any of this. i will wait for earnings to come rolling out. this is a company with over $3 billion of cash earnings. it would be really great for them to say you know what we're going to give you 1% dividend. value buyers like me which are institutional buyers could put this into a place, although i look at that 31 times earnings and say to myself, i'd use the options to color my risk which is what's going to happen. where it is going to happen,

anybody long this stock at a lower price that got into it in one of the rounds while it was private is going to take some portion, maybe their original investment and lock that in which the option wills allow you to do. should it collapse for whatever reason you're protected. if you're an insider and want to get out use the options too because you're tied up for another year. i expect these options to be very well used for that reason. the stock is crazy expensive. i don't care how you measure it. >> one of the things you to think about if looking at alibaba is china and what is it going to do policy wise going forward? of course we have the hong kong protests going on right now with some people part of china who have different views about how they should handle democracy and capitalism going forward. how important is that and watching that to figuring out what to do with alibaba? >> well, i think it's built into the stock. i think the hong kong 85,000 protest is a very regional story. it's not mainland china. the management there, which is the government, is going to be very tolerant.

they don't want a repeat of the '80s where somebody gets shot in the middle of the street with a tank rolling over them. that's not the image china wants today. i'm not that worried about it. >> when a company gets all of its revenue from one region or one country without the diversification of being elsewhere globally, does that worry you? even though you say this is a very -- a very contained situation? >> it is very contained as many of the other world conflicts are. it's offset by the fact there's a story running around stateside that alibaba is amazon with profits. and we have made this a household brand name in a matter of two months by constantly talking about it. if alibaba opened up stateside with their same profit model, they would be a big challenge for amazon which doesn't make any money. so, you know, those that are really optimistic on this platform are saying why can't they compete in europe, stateside? why wouldn't they and with their margins they would be a behemoth. imagine an amazon with real profits. my goodness. it's like a dream. >> you mentioned it sucks the air out of tech.

what other names have been unfairly pulled lower as a result of this ipo? >> i think if you index the sector and you want exposure to asia, you're taking money out of apple, google, you know, even microsoft, and all the second tier guys, the yahoo!s and aols saying i've got to pull 50 basis points to 100 basis points and allocate to this because it's part of my index. i think that's what's happening. in the options now make it more mature even though it's only traded like ten days or something. which is really remarkable. >> how do you explain goep up 8%? you said you would think about shorting it. >> can't borrow enough. believe me i have -- by the way he was a guest shark a nice guy, but even -- >> woodman? >> yeah. woodman is going to be a guest shark. he was a brilliant and good negotiator. we had a lot of fun with him on "shark tank." we had a sideline discussion about his valuation. he knows how i feel. i have ultimate respect -- >> i'm sure his feelings were really hurt. >> no.

listen, i said you have a picture of a cat dropping off a roof monetize it. how you make monday. if you do that you have my respect. nick and i are talking about it, but he's winning. >> nearly $90 a share. >> how much do you buy for yourself right here? you're putting in your savings into this. >> no. >> exactly. >> we're not allowed to. remember that. >> i rest my case. >> thanks a lot. >> by the way, make sure you tune in tomorrow. mark hurd the ceo of oracle on "squawk alley" tomorrow live at 11:00 a.m. eastern time on cnbc. when we come back, as we just said, shares of gopro hitting an all-time high. the new move could send the stock higher. first rick santelli, what are you watching today some. >> you know, it is a huge week and i know we say that every time there's an employment report but it is. ecb meeting on thursday, the jobs report friday, preview on wednesday with adp. the dollar on a tear. what does it mean? the french, the conservatives

look like they're taking the upper house. we'll talk about that and everything that moves the markets after the break. who work with regional experts that's when expertise happens. mfs. because there is no expertise without collaboration.

mr. daniels. mr. daniels. look at this. what's this? clicks are off the charts. yeah. yoshi, we're back. yes, sir! ♪ more shipping! more shipping! ♪ [ beeping ] ♪

coming up stocks having another whip saw day. are things about to get rockier as the quarter comes to the end? we'll bring in the experts. a mu way to play alibaba. trade school is in session with pete najarian. how it works. we'll hear from the analyst who

raised his price target on that stock. grant hill is in the house. did you know he runs a private equity firm. here to weigh in on everything from student athlete compensation to the nfl to investing. straight ahead on the half. see you at the top of the hour. >> thanks, scott. in case you missed it gopro unveiling three new cameras this morning. highlighted by its lowest priced model yet, the hero 4 which at $129 reviewers say it's cheap enough to lose or destroy on vacation. all three cameras will go on sale this sunday. the a noumts not hurting gopro's stock. rallying to new all-time highs. up 8%, shy of $90. the knock on these cameras, 2.5 hour battery life. critics say that's not enough to have this be something you use all day but you've had the cans to look at all three models. >> yeah. it's not an all day thing. i haven't held all three. the low end called the hero is interesting at $129 because it comes with the waterproof enclue sure. sort of built to fit into that,

with the skeleton case that lets you get microphone sound out of it. what's most interesting they've changed their good, betters, best model. the high-end which does 4 k at 30 frames per second is high end, the middle is likely hero three plus was and has a touch screen on the back. a different marketing case that gopro is making here. i think they're going to sell a lot of the low end christmastime as gifts and the consumer target is the silver edition. before you wanted to stay away from. you wanted the highest end. >> and that high end is called the black edition, 499, even though a holiday item goes on sale october 6th a week from now. >> what you will see is the highest end version at 499, the black edition, selling to professionals first. you will see a little silver in the holiday, the big kind of mass market buying season when you will see the 129 hero sell. it's kind of like the ipad mini.

the ipod mini, sorry. i meant to say. for gopro. that could really take their volume to the next level and i expect they've gotten the margins good on that one based on the way it looks to be designed. >> how soon do you think we'll be able to tell whether or not that lowest end camera does have mass market appeal. do you think we'll have to wait until after christmas or do you expect the sales will start ramping up in the near term. >> we'll see data from the likes of npd. they tend to look at what people are coming out of your best buys with in their shopping bags and this you would expect would be one of those items. >> gopro up 8% today. incredible. speaking of the company, our own josh lipton has an interview with gopro's ceo nick woodman at 1:00 eastern time today. >> dow down about 60 points. let's get to the cme group and check with rick santelli. >> hi, carl. sometimes trading, we're all caught up in the real time moment that we sometimes should take a step back. as we finish the third quarter and it's significant, i would

look for upward pricing pressure on the long end for quarter end adjustments, but i see a 248 yield on 10s. look at a chart of this quarter. this chart starts on the last trading day of last quarter june 30th. where do we finish out? 253. basically where we settled friday is where we settled the second quarter. i find that interesting as you look at the chart. now we know that pimco has been a big talking point down here. let's face it, they use a lot of futures. there's a lot of people on this trading floor that are very familiar with their style or operation, how they trade the options especially. and even though maybe three or four basis points of speculative sell-off was definitely a cause and effect that we can probably attribute to friday's news regarding bill gross and pimco, many are hard pressed to try to handicap it much beyond that and let's be clear here, the news calls for 10 billion outflows

potentially 100 billion but we're going to have to wait and see and the reality of this is, most likely, many say that those dollars, if they come out, will end up in another bond fund. remember, bond investors have been pretty darn clear. they're hunkered down. now this thursday, of course, we have the ecb meeting. we don't have the bank of england, don't have the bank of japan but this is key. why? for all the obvious reasons, different programs, some lackluster use of previous programs, but maybe more than anything, the ongoing weakness that continues to creep in. whether it's the fund mentals or political. we see that the upper house looks like it was lost by mr. hollande to the center right. this is significant if they get 180 seats, i believe 348 is the number, because all of that really and a lot of the turmoil in the world, i look at it different as a market guy. i think when economies are strong, a lot of this tends to take care of itself. when they're week, things get a bit up for grabs. the other big story is the dollar. the dollar has to be linked with

central banking activities. yes, the dollar is moving up because ecb is all too happy to have the euro move down. remember we're coming into a tightening cycle and this is hugely important whether it's for multinationals or ultimately what happens for the jobs scene and its effects an that's the last point, of course. we have jobs friday. 142 last month on the poultry side. many looking for 215. this is probably not going to be a definitive gage as to whether that weakness or the stretch jobs prior is sustainable. it's going to take many months of 225 to 250 to convince investors. back to you. >> all right. thanks so much, rick santelli. in chicago. up next, do the iphone 6 and 6 plus really bend? "consumer reports" joins us with the final verdict on the big question freaking out iphone owners everywhere. "squawk alley" is back in a minute. (vo) watching. waiting. for that moment, where right place meets right time.

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"consumer reports" taking on bend gate testing the strength of apple's iphone 6 and 6 plus. annualysis reports of a design flaw are overblown. joinings us is the consumer editor and joins us from yonkers. good morning to you. >> good morning. >> it's a great report. our tests show that both phones seem tougher than the internet frack cuss implies. how tough is tough? >> we put them into a compression testing machine. this big machine by a company called instron, relatively

standard within the industry and we essentially increased the force on the phones. we put them through what's called a three-point test where you prop them up underneath with two points and put a third point of pressure at the top. we found that iphone 6 was able to take around 70 pounds of pressure, which is greater than the -- one of the apple hasn't released too much information on this, greater than the number they released and we found that the 6 plus was able to take 90 pounds of pressure which was -- which is in our estimation, greater than what you should expect if you're treating your phone, you know, with relative care. >> right. >> you can -- if you think about it from this perspective the way that we tested it is very much like a 70 or 90 pound child standing on this phone with his or her heel into the phone at a single point on it. that is the point at which they start to bend. so, you know, it's kind of up to consumers to figure out.

is it possible to put that much pressure on the phone? yes, it is. is it likely? probably not. >> so how should consumers think about this? because your tests also showed that iphone 5 was built more sturdsly than the iphone 6 and 6 plus. samsung had phones that were asks able to withstand -- able to withstand more pressure. in normal use yes maybe your 6-year-old could stand on your phone, it would be okay, but that's not going to happen so don't worry about it? is this a matter of put a case on your phone if you've got a thinner phone just in case. what is it? >> a matter, a relative matter, the iphone, the new iphones aren't the strongest phones out there, although they weren't necessarily the weakest either. we tested the htc one, the m 8 phone, largely considered really sort of solid phone, and we found that it started bending at the same force that the iphone 6 did. so when it comes down to it, we thought that given this data

that people don't need to be paranoid that the thing is just going to instantly start bending whenever, you know, they wore a pair of tight pants, but we could also say that as a relative measure, there are stronger phones. the samsung galaxy note three managed to withstand up to 150 pounds of force. so i guess you can sort of take it as you will. can it bend? yes. all things will bend if you put enough pressure on them. will it bend? it's less likely than we believe most people are worried about. >> but that being said, glen, the fact that the iphone 5 cans basically withstand almost double the weight that the iphone 6 could, i mean, that's -- that's notable, the fact that a company in between models decreased the force that it could withstand by that much. is this something that you think apple needs to correct for the next model to make sure that it is as durable as prior models? >> if you look at it as a trend they should probably make sure that the next generation of

phone isn't incrementally that much weaker than the previous one. if you just take a close look at the way the iphone 5 and 5s are constructed versus the 6, a thicker phone, shorter phone, it's built more kind of like a brick. we don't want to draw too many conclusions from the data, because data is data, right. when you do this type of test and put these phones in it these are the results that come out of it. but i think you can draw a conclusion that the iphone 5 was a more solidly built phone than the 6 and 6 plus are. but i also think that the 6 and 6 plus are within the tolerances of normal human use. >> normal wear and tear. yeah. it's a good report. glen, thanks for you, to you, for your time. glen with "consumer reports" today. he was offered an internship from apple and said no. why one 19-year-old turned down tim cook and company next on "squawk alley."

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including tuberculosis. serious, sometimes fatal infections and cancers, including lymphoma, have happened, as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. before treatment, get tested for tb. tell your doctor if you've been to areas where certain fungal infections are common, and if you've had tb, hepatitis b, are prone to infections, or have flu-like symptoms or sores. don't start humira if you have an infection. talk to your doctor and visit humira.com this is humira at work at 19 years old our next guest has already created over 40 apps, launched two companies, and started a charity, but if that wasn't enough, he recently turned down a job offer from

none other than apple because he was already so successful on his own. joining us is john meyer ceo of fresco news and tap media here at post 9. tell us the story of how you engaged with apple and what the job was and what eventually happened when the conversation went down. >> you know, i mean i got -- first i got started with developing all these apps way back in 2008. so i had, you know, pretty much had been living my passion and finally when this job offer came in, i thought, you know, am i going to be able to keep doing what i love? am i going to keep building things i love to build and can affect as many people as possible? or do i want to be in sort of a low-level position where i'm not really gaining as much as i could be as i would like in the real world doing my own stuff. >> what would the position have been? >> it would be like an intern position on their itunes team. >> was it an either or? why can't you do that and do

what you continue to do? they would have ownership over what you create. >> for me i'm actively working on right now fresco news and that's something where i'm trying to build a product that can revolutionize the way news is transferred on mobile devices and i -- for me to just step down and postpone that for just maybe a few weeks or months would be difficult. >> you did step down from nyu where you would have been an esteemed sophomore. >> yeah. >> why did you decide not to stay in college as well? >> for, you know, an entrepreneur like myself, it's very hard to get a lot out of university education. because i'm in class, say in an intro level program in class and i can't focus because i'm worrying about drawing up designs or my product, setting an investor an e-mail or something like that and as far as learning goes, i have seen -- i've learned so much more just through experience and through mentorship in my field and through actually doing things. obviously an education is great

for many other people, but for myself, a decision i had to make. >> calculus is a little boring. >> yeah. >> one of the only 19-year-olds i know who wears a watch. >> really? >> what do you think about wearables and the same watch you'll be wearing a year from now? >> i don't think so. we've got to move with the market and what consumers want, so in a year from now i'm going to be wearing i guess an apple watch, maybe doing some apps for that. >> so not working for them but maybe paying them a little for their technology. >> yeah. >> what was their response when you turned it down? the golden ring only comes around once? >> not at all. >> i've been close with apple in the past few years. know so many people there. great snigs things going on in their develop e community. when i said this, i'm very close with the recruiter, he knows what i'm working on, he said, you know, i am 100% fine if you want, you can come back in a few years and do whatever you want. >> a lot of people say i would love to quit my job and just follow my passion but i need an income of some sort.

when did you start making money and how do you keep yourself afloat? >> i know. it's always a battles especially for entrepreneurs working on companies. i was fortunate enough to have started making money and supporting myself back when i was a sophomore in high school and right now i'm living and supporting myself now and funding fresco and it's going well. >> what do you think is the exit for fresco? we've seen yahoo! buy, pocket is another news app a lot of big conglomerates are eyeing. do you hope to sell to a big company some. >> with fresco i see me developing it and working on it a few years. whens the time comes and it's clear a larger company may have a better effect on fresco, like yahoo! that's probably the biggest option, i would definitely be up for it. >> you've had a flashlight app, a news app, four apps in the top 25 of the apple app store. this is not the last we'll be hearing from you. >> definitely not. >> when i was in college i worked at a video store.

those don't exist anymore. you're doing well. >> thank you. >> we're keeping our eye on what has been a pretty substantial comeback in the markets. when we were down more than 170 in the morning. dow down 39 and see what afternoon brings. that does it for "squawk alley." over to the judge and see what's coming up on the half. >> we'll be all over that. thanks so much. welcome to the halftime show. meet today's lineup. joe is senior managing director at inversement partners. >> stephanie comanager of jim cramer's charitable trust and josh brown ceo of rid holtz wealth management and ben from princeton securities from the floor of the new york stock exchange today. we begin with the move in stocks and a question for investors. are the markets which have already seen a big pick-up in volatility over the past week, about to get a whole lot more rocky as the quarter comes to an end and a number of flash points remain unsettled? including in hong kong where student protests are raging, yet stocks well off their