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wellcome to "squawk alley" for this thursday. kayla tausche, and along with vanity fair correspondent nick out west. good morning to you. >> good morning. >> and now, redstone says that he no longer trusts the ceo, and he says that he is determined to trust in the company and not the shareholders to do the best for them. and so yesterday on "fast money" we spoke to tom freston. >> well, the lawsuits and everything else has been a side show compared to the real story which is the fall of viacom from grace over the last several years that have been really one of the leading television networking companies in the business and now it is falling to a level below the peers on

almost every metric plagued by all problems including the creative departures. >> and freston is outspoken, nick, and how does this move the ball forward? to what degree will we see any resolution in this saga? >> i, all i can hope for is that there is someone in that building with a video camera filming this whole thing, because it is the pr fekt bookend to the real world years ago. it doesn't seem like it is going to end any time soon. and freston had a number of good point, and viacom was the number one in everything when it comes to youth. i remember growing up watching mtv, and coming of age with comedy central, and all tof the things that viacom spearheaded and now the kids are watching the videos on youtube, and they use all of the social networks and mtv today is buzzfeed, and so viacom has missed every step of the way over the past decade,

and we are seeing the repercussions of it now. >> and hindsight is 20/20, so use it. how much should viacom have, and how much is inevitable, because facebook is coming along, and viacom was not going to do that, and should they have done disney's playbook, and snap up marvel or lucas film? >> well, a lot of the acquisitions, and those are some of those across the board that you can go back to see the key ones. be but the key one is "the new york times" people used to talk about "the new york times" or the "l.a. times" or "washington post" should have created craigslist, and that ate away newspaper advertising and so on, and the same is for viacom, there was a big brew ha -- brouhaha about not creating face

space, but they should have created myspace and facebook, and they didn't do that. the biggest mistake that the company did is that they never transitioned into digital in a way that made since for the young consumers today. >> and it is easy to say could have, would have, should have, nick, and now you have news that redstone himself is visiting the leaders of cbs, and paramount, and of course, those are the people who are not themselves in the headlines, but of course, you can't ignore them behind the scenes. are you reading tea leaves on that, because paramount is either having a stake up for sale or not, and a lot of people on the buy side would hope that mr. moonves could make a bid for via comco, and if that is possible remains to be seen, but what do you see? >> i have a lot of respect for moonves in the room, and so i would not put it past him. i was reading a vanity fair

article in 1976 about redstone, and it is a decade ago that a lot of people thought that redstone was losinging his marbles a little bit, and a line about how every restaurant in the area has a story about him walking into the wall, and that is a decade ago, and i don't have any confidence that this man can save the company, and i think that we are just in for a major battle over the next god knows how long. i don't think it is going to be pretty in the end. >> and definitely a soap opera watched as much in l.a. as new york. and meanwhile, nick, the cia director taking a shot at twitter and jack dorsey testifying on capitol hill, and to sum it up is aman javers. >> yes, he is testifying before the senate intelligence committee, and h weighed in about this dispute between twitter and the cia. this is tissue, a few months ago twitter said that the cia could not have access to raw twitter

feeds they were getting through a subcompany called data mine e e. tw twitter blocking data miner to give it to the cia for intelligence purposes. this is the exchange that happen happened on capitol hill a few moments ago. >> the "wall street journal" also reported that the ceo of twitter jack dorsey told data miner to stop the inquiry because of the optics quote end kwoe quote to help the cia. >> i don't know if exact quote. >> is it frustrating that a american country would sell information to russia and yet not cooperate with the american intelligence agency? >> i am surprised there is not more cooperation with the legal authorities that may be available from the u.s. private

secto sector. the "wall street journal" reported that had happened at twitter, and it was the cia open source enterprise unit at issue, and the folks inside of the cia are looking at the the open source newsfeed for realtime intelligence to stop any of the realtime attacks like in brussels or paris or the win we just saw in orlando, and monitoring in real time, and that is what twitter does not want the krishgs a to have access to. >> and thank you for setting it up. twilt ser not the only company getting heat. mark johnson is calling mark k zuckerberg to turn over five facebook accounts use bd by the orlando shooter before and during his attack. i ask you the provide all of the facebook activities of mr. mateen, and the facebook logs, and the facebook time line and messages and posts. and nick, whether it is

facebook, johnson, apple, bi, and twitter, and cia, where does this end? >> these companies have a responsibility to work with the government in some rm to or another. it is diabolical that twitter has cut off the cia, when you are russians breaking into the democraticb national convention computers to steal the strategies against trump which could affect the election. and these are the actions of the companies that have massive, massive implications. and, i think that for the carte blanche response of you have no access, because we are afraid of the optics is just ridiculous, and quite irresponsible frankly. >> and so, nick, who is leading the philosophy of silicon valley? do you point to one executive or thinker that a lot of to companies appear to be following in the stances on this?

i'm not clear if facebook has said one way or another whether they are going to be handing over what the government wants in this case, and i want to be clear, because it is not as if they said that they are give yulg of this stuff on omar mateen, right? >> well, the letter went out today, and we don't know the response. it is unclear if there is background conversations, but it is ridiculous that we are here in silicon valley to make the world at better place when it is all about business. with the whole fbi thing, it is an optics thing about business and marketing strategy, and sure, certain people believe that within the company, but it is a marketing thing to separate apple from google, and as far as twitter is concern canned, you don't sell your, you don't give access to competing countries and then say that america can't have access to it. especially in a time when every single time we see the isis-like events take place in america from san bernardino to orlando, it is because of social media

that the people got access to the information, and they became these men. >> and does it strike you odd, nick, that dorsey is under direct attack by isis, and wouldn't it be logical for him to help the government? >> it is bizarre to me that silicon valley would not want to stop in some way the terroristt attacks happening. in some ways it is completely irresponsible. >> are you saying that tim cook is disingenuous when he says that a matter of principle when people's privacy which a phone has a big part of it, and the smartphone especially, who you are, and what you are talking to, and what you are saying, and he does not want to hand over the keys to the government? is that a marketing issue and not a principle? >> well, sit is part of both to be frank.

they are thinking of the best interests of consumers and especially the consumers in china where if the officials got access to people's phones, they could be put to death or god knows what could happen. but when the apple and fbi issue was going on, there were more than 50% of people who said they wanted apple to give the informati information. we created the nuclear weapons and all of the systems in place to make sure that there is no random person to go in america tot is them o to set them off, and so there has to be a balance of the world we live in today with the technology and working with the government and silicon valley working with the government, and americans are safe, and they have privacy around the world, and but that people who want the use these things for nefarious purposes cannot. >> and finally, nick, your latest piece for "vanity fair"

looks at the use of twitter in light of the microsoft deal. and you argue that the companies whoe sexier things to spend their money on. >> when you are looking at apple as a suitor, and sure, twitter could be amazing integration into apple, and make itunes di l -- a diabolical product to be reinvigorated. and so at the same time, apple is trying to build a driverless car, and more sense to buy tesla that is valued $30 billion today or twitter? the same for goog. trying to build robots and artificial intelligence and driverless cars, and they don't see twitterer as a really goods

a set to moving thatple ball forward. >> nick, i have covered a lot of ground, and so a must-read in the "vanity fair" piece, and nick builton joining us, thank you. and meanwhile, the averages are koun for six days in a row which has not happened since last august. and no move from the fed, or bank of japan, and the risk is off to market in a big way. and the dow is down currently 99 points. kroger is bucking the down trend, and the grocery chain is the biggest gainer on the s, and p and thanks to better than expected earnings, and lower cost, and that stock is up 2.5%. >> and change high disneyland is now open for business, and we will go inside for a inside look. and also, we will have the ceo joining us for the first interview since taking the tough

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shanghai disneyland is officially open for business. eunice yoon is there with more. eunice. >> thank you, kayla. today was a big day for disney. tens of thousands of visitors came to shanghai deznyland and the to give you a sense of the crowds, the average wait time outside of the park to get in

was two hours. this is an important moment for disney, and the ceo bob iger told me last week that he hoped that the park would become a booster rocket for the company's business in china. the idea is that of course as the people come to the park, and get more expose sure no the brand as well as to all of the disney's characters, they could eventually go home, and end up buying more tickets to disney movies, and also buying up more products from the disney stores. there is good reason to believe that disney's big vet could come to fruition and the reason i say that is because the ads from disney's own estimates 330 million people live within the three-hour radius around the park who can travel by train or by car, and also who can afford the take a vacation at this park. and if you believe that the chinese economy is improving in the long term, and that

consumers are playing a larger and larger part in the overall economy, then disney is well positioned. also a lot of the analysts have been that the park will see 15 million visitors in a first-year alone, and that would make it one of the most visited disney parks. now, what are people coming here to see? well, 80% of the attractions are new to china, and some of them have new technology such as the "pirates of the caribbean" ride, and also one more special feature that a lot of people here like, and that is the largest castle in the world for disney is right here in china of course with the world's largest population. kayla. >> it is quite a fascinating open for what has been a long and expensive project for disney, and heartbreaking week for the company though. eunice in shanghai with the opening of shanghai disneyland.

>> yes, and i want eunice to give us an update on the turkeying wills, and how they are selling. and this morning, we will talk to the ceo's first interview right here on cnbc, the company of amd. i was working in the yard, my chest started hurting and i thought, well, you need to go to the doctor. i was told that is was cancer, and i called cancer treatment centers of america. dr. nader explained that they can pinpoint the treatment. once we identified that there was this genetic

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amend is trade aring higher this morning by 3.5% after being upgraded to a buy as the company is pushing into the 4k gaming and virtual reality space. lisa sue is the ceo of amend, and the first television interview since becoming ceo of amend. thank you for joining us. >> thank you, jon. it is great to be here. >> and your stock has toubled and just a few cents from the 52-week high, but you are trading in the same place you were two years ago. i'm wondering in the past that you have have said that in the case of intel exerts an

extraordinary market share, and in the meantime, you have new products coming out with people's hopes are high, and what extent is intel's influence going to change? are you going to be able to breakthrough? >> it is about a long term strategy that we have put in place for amend, and two pieces to it. first is changing the biz, moldle. a few years ago, people thought of us as a pc company, and 90% of the revenues were in the pc market, and today, we are 50% outside of the pc market, and we have built some strong franchises, and the game sole franchise which is a strong market for us. and then it is about the products, and we are a tech company, and we have been, you know, working hard on building great products for the high performance computing and graphics, and that is going to give us the opportunity to grow, and profit over the next couple of years. >> and intel is backing away from are the invest iing in all

but the high end pc market, and doing that because he doesn't feel like he can make margin, there and you have more than $1 billion in net debt, and so you need to make money, and arguably more than they do, and one of the goals is to gain the prof profitable graphics and the client share. why is that market going to be good for you while intel is backing away? >> when you think about it, the pc market is 1.4 billion users and we have 275 million units sold every year. we believe we can gain the profitable market share because of the strength of the product, and putting an incredible focus on the graphics technology, and the upcoming product launch over the next couple of weeks and we are excited about that. >> and virtual reality, and we have been heard about the companies sowing the seeds, and what are you seeing there? >> well, virtual reality is one of the applications that changes the way that you deal with the

immersive applications and devices, and not just in gaming, but across a number of segments. amend is going to provide the graphics processor for that and we can change the game. we believe that as we get the performance levels to the right place, we can get the next 1,100 million vr users and that is our goal. >> and do you see it being as ubiquitous as the pc? how are you thinking of vr in totality down the road? >> i think that vr is an attractive technology and it is going the take some time to build it up from 3 to 5 year, anded by it up from 10 million to 100 million, and that is what the technology is going to do, and we reworking the ecosystems, and the oems and ecosystems to build it up. >> and is gaming the spearhead of what is going to spur the early onset? >> well, gaming is an exciting part of it, but i believe that there is education l a, and

industri industrial, and medical applications, and hollywood and entertainment that is going to drive virtual reality. >> and does the amend resurgence have legs? right now, you have the 14 nan know meeter nanometer chip, and we have heard that the 10 nano meter, and so what is going to be the message to keep the air in the balloon before it is releesased? >> well, it is the beginning of a several-year frat ji, and we like what we see. the fact of the matter, we are innovating on design, and much, much different than a few years ago, and process is important, but the design, and the architecture, and the ecosystem, and we have a multi year road map to make sure that we offer our customers true differentiation. >> and you have is been coy on the details of the design of the

zenship that the gaminging world and business are abuzz. is that because you are working out the kinks of what you are bringing to market, or waiting for the big reare veal at the end of the year of what it can do? >> we are extremely excited about zen. it is the new core cpu technology, and the grounds up design, and aggressive performance requirements, and we will tell you more about it as we go over the next couple of quarter quarters, but we showed the first public demo a couple of weeks ago so my message it is on track, and special, and we are looking forward to telling you about it. >> up to 32 cores? >> well, good try, jon. >> don't clap. they would have annihilated if i did not ask. a lot of buzz of what that chip is going to be able to do the. and thank you for joining us. the stock's performance is impressive. >> thank you very much. great to beer hoo. >> we should take note of the stock market, and the dow has trimmed the losses to 70 points, and europe is going to close in

2 1/2 minutes. simon? >> a lot of red, and one week away from the brexit vote. and i want to draw your attention in the course of the report to tell you about the level of the banks, but on the headline, two fresh brexit votes say the leave campaign has it for next week, and the chancellor, and mr. osborne, and the bank of england art carney are going to be speaking at the mansion house at 4:00 p.m. new york time, and so we deal will with that then. and now, the pricing up of the sovereign debt, and pushing down the yields and further into the negative territory of the bund as a benchmark in the course of the session, and therefore, you will see the banking sector across europe hit, and deutsche bank is falling to the the record low, and that means that deutsche bank is trading below the stress levels of during the financial crisis of 2008, and 2009.

this is what i want to point out to you. look at the italian banks over the last month that were under severe pressure. you can see how some of them have lost a quarter of the value, and it is the weaker, because the banking model is undermined by the low interest rates and you are worry ared about the growth and the lower performing goals, and in italy, you are worried about the recapitalization, and whether they can find the money to do that if they need to. and let me show you what is happening to the spanish, and the italian sovereign debt. as the yields are going down everywhere else on a flight to safety over the last week, they have risen for spain and italy and in other words, spanish and eye tall the yan sovereign debt is suddenly less safe. and finally, the finance plin ster -- minister is warning that it is the tut of the ecb to prepare for the market disturbance, and they, the bank of england, have

secured no liquidity shortages in english or the eurozone banks. in essence, they will prevent the banking panic spreading through the swap lines of the ecb and the fed if needs be. this is echoing what you have from the bank of japan overnight that all of the major central banks are in coordination in case they need to act next thursday. guys, back to you. >> simon hobbs, thank you. when we come back, facebook has a big plan for the can lions, and we will have a cnbc exclusive. and paul ryan is set to speak in the weekly briefing taking place, and trump, and the democratic filibuster, and we will bring you all of the headlines and monitor that conference on the other side of the break.

next week, the lashrge ares advertising conference kicks off in caanan. and first mobile is going to be pushing out a new mobile ad from facebook. they are going to announce new tools for advertisers to build more campaigns on the mobile, which is of course, a huge percentage of the company's revenue. facebook's engagement is growing with more than 1.5 billion people accessing the site through mobile. we asked mark darcy, the

company's chief creative officer about that push. >> connectivity is what we will be talking about it in caanan, and the industry is fragment ed into a lot offer a yas, and one of the big things if we are going to be moving together closely to the seize the mobile opportunity in front of sus to get the talents inside and outside of the companies to work much more seam less lessly, and much more quickly the seize the unts. so for me, that is the real opportunity for us going forward. >> it is an opportunity for every big global company, but the big push by facebook is getting more businesses on social, and using messenger, and pages to kconnect with the customers, but now that microsoft is targeting social with mobile with linkedin, what is the change sh. >> well, the world becoming more connected is something that the companies will do in a number of

ways, and microsoft lipkedlinke going to be constant, and looking for the value created through the connection, and so whether it is a business setting or the personal setting or commerce setting, what you need is the perpetual reward because i have a certain amount of bandwidth to make, and so i want to gravitate and give my attention to ones that give most value, and so that is any time you are building the networks, the people of where the most value is coming from, and that what they are looking at. >> in short, they are not exactly a direct competitor, and we have new numbers from facebook that are highlighting the business connection, with more than 43 billion int interactions have been taking place through businesses and mes sen jers and he wanted to dispel the motion that facebook is a

way only for friends and family to commune, because he believes is it is going to be a place where people and businesses relate. >> well, it is a surprise at the time to see a paypal ceo leave there to go run messenger, and now perhaps it makes more sense. >> and to to see the user growth that messenger itself has been posting alongside the facebook core product. >> and he is building its own social network, messaging which zuckerberg mentioned earlier. >> and you are going next week? >> yes. i can't wait. >> and i can think of worse ones. the markets as you are trimming down the losses 69 point, and for a while, we were on track for the first 1% drop in the s&p. rick santelli, what are you watching? sgl >> well, we live in the global economy and for many years, that is a positive, but maybe there

is an underbelly to globalization, and why is that? well, because maybe it ties into the sen central banks, and how do i tie it up? you have to come back after the break. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of other competitors do on desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivatives pricing model, honey? td ameritrade. hey, honey? yes, dear? you're washing that baked-on alfredo by hand, right? (loudly) yes, dear. dish issues? cascade platinum powers through... your toughest stuck-on food...

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coming up on the halftime report, dazed and confused and what the investors are supposed to do now following the fed meeting as the stocks sell off for the sixth straight are day, and we will give you 2 trillion worth of advice from morgan

stearns. and we will talk about the gold trade, and pete najarian has been on that trade, and is he el selling now? we will find out. >> and mean whim, paul ryan is taking questions at the weekly news conference and answering a question about guns in america. take a listen. >> people's legitimate constitutional rights is importa important, and we also want to make sure that someone who is not supposed to get a gun doesn't get a gun. so we have to figure out how that works. take a look at what happens right now with the fbi. if a person is on a terror watch list, the law enforcement is supposed to be notified whether they are supposed to buy our gun or not, and that is the way it is supposed to work, and as the fbi director told us the other day, and he said it publicly, and if we do it wrong like the president is proposing, we could blow the ongoing terrorists investigation, investigation, and so we want to get it right so we don't undermine the terrorist investigations, and other factors in this that have to be

dealt with, and we just passed this week, 53-0, tim murphy's mental health bill out of the commerce committee, and sod there is a lot of work to be done, but make sure that we are not infringing upon the law-abiding citizens' second amendment rights. >> and when you look at the second amendment right, and the arms to protect this country from islamic, radical islamic -- >> well, it is a good question. is going after the second amendment how you stop t terrorism? no. that is not how you stop terrorism. we have a bill voted on right now to go after homegrown jihadist, and don't take your eye off of the ball. this is a person radicalized by islamic radical terrorists and he claimed isis so we have to make sure that we are focusing on the real issue hee, terrorism, and the fact that people are becoming radicalized and committing the horrible acts of terrorism in our country, and so not only do we need a better

foreign policy, and policy with respect to iraq and syria and fighting the terroristsb and preventing isis from expanding and growing, we need a better job of getting a handle on the homegrown jihad and combatting the jihadi itself. and so again, we roll ed out a plan to address these issues. >> and mr. speaker, you are talking about the terror authorization act, and that is a training that has been criticized -- >> yes. >> for essentially training the federal agents to whitewash, and put in politically training training, and telling the agents that they cannot investigate particularly suspects who may have looked into the muslim's background -- >> right. >> and look into people's faiths who may be islamic, and is

the -- >> no, i have concerns of thiss a spect of the dhs and one of the reasons that we delayed the mark-up of the homeland security bill in that appropriations committee is that because we wanted to look at all of the issues to see if something need needed to be improved in the appropriation appropriations process. >> your presumptive nominee has called for the muslim ban, which you have continued to reject, and as he says more that draws your concern, is there any scenario that you would rescind the endorsement. >> look, we are going to agree to disagree on things, and that is the way that things work. mitt romney and i did not agree on everything, but what we do agree is that we don't want another democrat in the white house. we have common ground to move things in the better way to the cup trishgsed a we don't agree on that, and everybody knows that, and if i am asked a

question, i am going to be answersing it honestly, and asked a question about the proposal that i don't agree with, i will answer it that way, and it is that simple. >> mr. speaker, tow that end when you wake up and look at the newspapers and you call up, and say, here you go again. and how many times can you do that? pl i >> i don't know the answer to that. >> and does it bother you that you have to be doing it repeatedly? >> he is a different candidate and this is a different year. and i am going to be myself, and speak up in defense of the principles and not just in defense of the party's principles, but the country's, and as conservatives we want to preserve, liberty and the bill of right, and no matter what, we will defend the principles, but i do believe that the last thing that we want is a democrat in the white house like hillary clinton. >> and given your response to the president's comments this week -- >> you jumped ahead of him. >> and mr. speaker, one of the nuances of the orlando shooting

is that in, i guess the basic question is that should someone who may have been on a terror watch list, and taken off of it would have been investigate bd the fbi, should that show up in a background check, or should it be totally eliminated? >> that is a fair question. we need to dig into the bottom of this particular case, and to see if refinements on how they ajude kate these cases work with repekt to the terror watch lists and with respect to that we need to know more of what did the fbi learn when they visited to him, and why did he get taken off, and so we have to find if mistakes were made, not to be repeated. that is point one, and we don't take away citizens' rights without due process, and again, i will defend the constitution here, and we do not take away a citizen's rights without due process. so if you have a quick idea in the heat of the moment to say, let's take away a person's rights without due process, we

will stand up to defend the constitution. >> and any thoughts on john cornyn's shield act, and any discussion with mitch mcconnell -- >> i am familiar with it, and i have not talked to mitch specifically about it, and there is a version floating around the house, and that is essentially going to codify what the fbi does, and what we think they should do, and so we will have further clarifications to codify what the agency does. >> and can you tell us -- >> did you ask a question? >> no, it seems like it, but with "the national review," and other liberal publications, and mother jones and what do you think of repealing the credentials of media -- >> i have not heard of it bef e before, and it is a new one and i hope and resume it is going to

be worked out. >> and it has not so far? >> and who is here with the "post"? depotis. >> and now -- >> you are trying to come up with one? >> okay. debonis. >> and mr. speaker, you rolled out the plan to address congressional leaders like yourself, be quiet, and please be quiet and please don't talk, and what is your reaction to this and how do you have any confidence that this is the guy to have respect for the separation of powers. >> and you know, you can't make this up sometimes, and i will just say that we represent a separate but equal branch of governmen government, and we just spent the morning talking about how valuable the separation of powers s and how we are trying to restore the entire principle of self-government of government

by consent. we will lose our freedoms in this country, and including all of the bill of rights if we don't robustly defend the separation of powers and we will fight for those rights on e behalf of the citizens so that we remain a self-governing people, and let me leave it at that and say, make sure you call your dads this weekend. >> happy father's day. >> and this is speaker ryan talking about the importance of combatting terrorism, and calling donald trump a different kind of candidate in a different year, and weighing in on the "washington post" credentials hoping that he hopes that is worked out, and john harwood with some reaction. >> and carl, the two significant points of the press conference and one is that he rejected the argument from democrats that the orlando shooting is evidence that people on a terror watch list should be barred from buying ammunition and weapons, and he said that we don't take away second amendment rights without due process, and he rejected that linkage, and said

that the problem is terrorism, and the ideology of the radical islamic extremists and not the presence of guns themselves, and secondly on donald trump, he said that he was not rescinding his endorsement of donald trump, and he had no plans to do that and he was asked how many days can you wake up and see more statements like the reiteration of the muslim ban, and be comfortable still endorsing donald trump, and he said, oh, i don't know the answer to that question, a he kind of laughed off a few other things that trump said, and he is trying to deal with humor with the uncomfortable, and awkward situation that he and other republican leaders have been put in, but he decided not to make any news on that front today, guys. >> and on the anniversary of trump's candidacy, john, we appreciate that very much, john harwood in washington. >> the dow is down 76 point, and we are down a lot more after the bre break.

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let's get to the cme group, and the santelli exchange. rick. >> and thanks, carl. one thing that i think that most of my guests and most of my sources pretty much every single human being on the trading floor agree on is that negative rates are not a good thing. whether it is richard fisher yesterday talking about the impact on insurance companies, pensions, retirees and the state of illinois and the money markets, and regional and local community banks, and the list goes on and on, and john taylor

today talked about that as well, and many others have. but there is a problem here, folks. it doesn't matter whether they are here or not, because they are here, period. and in a global world, if china catchs a cold, everybody sneezes. same is true for japan, and the same is true for europe, and the same is true for the uk, and the united states, and globalization on the way up is a great thing, and rising tide, every ship did better, and as it reverses, we share. okay. whether it is bad central bank policy or the bad policy in general, and where am i going with this? doesn't europe have insurance companies, and china and japan? people who need to retire and get their hands on money? do they have pensions? are there programs to generate income in the future? do they have all of these? of course they do. and that is what we are focusing on here, because for all tof th

reasons and the experts and people i have respect for say, please, no negative rates here, and the fact that they are already around means that they are going to have to be dealt with, and those decisions, and those policies will be here. they will affect our markets and just like bund yields and what is going on with the gilds and they all affect our market and we have to wake up to the fact whether it is here or not physically, it does not mean it is not here on the balance sheets and especially the balance sheets of the future. kayla, jon, carl. back to you. >> thank you, rick santelli. the dow is down 9, and we will take a short break and back in a moment. blueprints. call hruska. we've gotta set up a meeting. sure. how do you spell that? abreu, albert, allen, anderson c, anderson r.... you know what? i'll just tell him myself.

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that is a clip from "funny or die" and this is ono shortage of funny or die is a tire, and former

formerly, you worked with the obama white house and he is joining us from the white house, and good to have you this morning, brad. >> thanks for having me, guys. >> we have seen a few different comics sort of struggling with finding ways to be funny in the wake of the election and now especially in orlando, and is it getting more challenging or not? >> well, it is a good question. i think that when tragedy strikes, there is always a challenge to strike the right tone. we went dark on the social media in the wake of orlando. but i think that with this cycle thanks for the candidates and i won't name names there is a lot of intentional humor in the cycle, and so in many cases, folks are doing our job for us, and we see it as a ripe cycle to get the young people involved and to keep humor at historic highs just like the ratings have been for debates and people's interest. >> and is the momentum for is a tire building, brad, or dissipating going into november now that people are wrapping

their head around what the election is going to look like. >> well, you know, i think that it is ramping up. it is ap interesting time in comedy, and "saturday night live" goes dark for a few months and then comes back in the fall. so, you are finding platforms like the "funny or die" and john oliver and samantha b. ramping up in the wake of that, and right now, we have two candidates that are the two most known candidates in the world, and i think that you are going to be finding satire on both sides of the aisle ratcheted up to the degree that we have never seen in history. >> and is it important to be even handed with the comedy in this environment or let it fly? i mean, more and more to come di is coming from the partisan point of view. >> yeah, i mean, look, our job is to be funny. and so we are equal opportunity takers, and so, i think that with the certain candidates, there is a lot more opportunity for humor than others, and i

will say that we have poked fun at every candidate whether it is bernie or trump or hillary, and you will find that very much so in the cing months. but, no, yeah, our job is to be funny, and to entertain, and the other piece that we are trying to do is to actually convert and engage young people to get them to the polls. get them activated whether you are a republican or democrat, and keep them fired up. >> and so brad, appreciate that very much joining us, brad jenkins from funny or die. >> over to the headquarters and scott wapner and the half. ♪ all right. guys, thank you so much, and welcome to the "halftime report" i'm scott wapner and this is the trade this hour, chasing yield. the fed is leaving investors more confuse and its own credibility in question. with us for the hour, joe terranova, and jeb lebenthal, and