broadcasting from a big event in los angeles come wednesday, but i wanted to point out that the royal wedding on saturday, highest royal wedding ratings in the u.s. every, 29.2 million, beating will and kate and diana and charles by a large margin. >> it was wilfred frost. >> it's the frost phenomena. >> all right speaking of -- >> "closing bell" starts right now with wilfred >> welcome, i'm wilfred frost. dow crossing 25,000 for the first time since march what will be the catalyst to keep stocks moving >> the dollar gains strength, companies lose i'm looking at companies most vulnerable to a stronger dollar and what it could mean for their bottom line. i'm michelle caruso-cabrera. despite the economy in shambles,

nicolas was reelected for venezuelan president and what most national institutions call a sham election. now the u.s. promising more sanctions. i'll have what's ahead for the country in crisis. >> reporter: we're in washington, d.c., a temporary trade truce has been called between the u.s. and china for now. i'll tell you what's discussed and how long it could last i'm kelly evans, and fresh concerns about dominance in big tech fresh calls for washington to step in. new review from consumer reports could put brakes on tesla's plans. the "closing bell" starts right now. were people really, like, okay >> it was awesome, all around, a great treat, but better to be home >> i turned on the coverage, like, it's wilf, he's talking to me about the royal wedding >> you knew i was going to do it >> more like a correspondent or sitting up there

>> it was a treat. it was a lot of fun. >> very cool we'll get to more of that, every. welcome to the "closing bell," and welcome back from london stocks surging starting off the week and trade tensions ease russell 2,000, fourth straight day up in a row now. dow up 289 >> ticking above the 25k level, and bob pisani has a look what's driving the market higher today, bob. >> no trade wars that's a huge geopolitical tail wind for the market, and you can ski the stocks reacting, the right stocks reacting. obviously, big industrial names, boeing, you want to reduce trade? ha, issues, boeing a big beneficiary that caterpillar, tech, that's more than half of the rises in the dow. new high in csx. textron at a high too. micron with a lot of momentum recently moving up again today,

and then there's the fang stocks as well p. you put it all together what's going on here, you put up fang names is momentum names are back the people who matter, and move the markets overall. these kinds of names, some of the financials, some of the big industrial names, so let's take a look momentum is back let's take a look at the two sectors here here's the big trend here, large caps, 5% below hoistoric highs, remember, when the market moves forward, more stocks advancing than declining, that's a market indicator. you don't generally have a long term down trend when the advanced decline line is high. pressures dropping buying power getting better, i've been complaining about that, not enough enthusiasm, but it, too, slowly improving. the cyclical leadership we've been getting recently, technology stocks, energy stocks, industrial materials, these are the leaderships. all of them are cyclicals. this talks about continued belief in the global expansion

remember the pushback on that weeks ago? it's declining look at the momentum names continuing you can, again, buy these kinds of stocks in an exchange traded fund the splv versus spv, and in the last seven weeks, semiconductor names primarily and fang names like netflix going straight up most of the sideways names have. the pepsis and coca-colasoca-cow volatility names moving market it's the right space right now a lot of tail winds for the market one issue i point out, the dollar at a new high, you got 10-year high , and as long as there's growth, you're okay. without growth, those things are a problem. we need it >> true. bob, thank you very much see you shortly. today's rally started before the opening bell, and, in fact, futures jumped sunday night after the treasury secretary said the u.s. trade war with china is, quote, on hold we have the latest on the developments out of washington,

kayla, and the pushback from other parts of the trump administration what do you think about all this this afternoon >> well, kelly, the president this morning tweeting about this deal calling it a potential deal because much of the fine print has yet to be worked out you can argue the rally started saturday evening when the white house and china put out a joint statement about the conclusion of talks that showed that tensions from earlier in may have been smoothed over between the two countries. this morning on cnbc, larry kudlow acknowledged that communique, a big step, was short on details >> this is not a term sheet for a corporate finance deal this is a very complicated negotiation with the two largest economies in the world if you look at it, it talks about opening markets. it talks about reducing barriers it talks about reducing the trade deficit. you know, i regard it as a growth document. >> reporter: the u.s. negotiating team was led by the

treasury secretary, steven mnuchin, wilbur ross, and robert lighthizer they briefed the president in the last several days continuing to keep up the talks going forward, but we should note there should be one more name that could be added to that list going forward, and that is the national security adviser, john bolton, who sources tell me has requested closer involvement in the china trade talks because of the tie-in to an upcoming event that june 12th summit in singapore between president trump and north korea's leader kim jong un in which china is playing an integral role with that three weeks building a potential deal and details to be hammered out between now and then the commerce secretary is expected to go to china within the next two weeks to put some detail together. exactly which u.s. agricultural and commodity exports will benefit from china's new

purchases or agreements to purchase so we'll wait and see what he comes back with as this trade dispute, as the treasury secretary calls it, comntinues. back to you. >> dispute, the markets welcome it right now, a sign of deescalation, thank you. president trump tweeted this morning, china agreed to buy massive amounts of farm and agricultural products, the greatest thing to happen to farmers in years >> so how are farmers reacting we have american farmers and families here, good afternoon to you, casey, and thank you for joining us your immediate reaction to this news over the weekend, clearly, a lot of moving parts, still, b but, i guess, moving in the right direction for you? >> right i mean, eases anxiety for farmers knowing that we're moving forward in a positive way when it comes to china, and very grateful for that, but at the same time, there's really not a a lot of certainty, and where we

really are hoping we can move forward is with the nafta negotiation. it seems like that should be a greater part of the discussion right now. you know, we know that that sort of trade agreement works it's proven to work over the course of the time we've been in nafta. it's been a boom for agriculture, and that's what we really need. we need some certainty, and we hope that the administration and congress will still keep their eye on that ball >> is nafta more important to you, therefore, than any potential development in the negotiations with china? >> yeah, absolutely. i mean, we know that nafta works, and we know, also, that over the course of the last 16 years, our income on the farm has only fallen, so what we would like to do is see more of what weknow works, which is an enhanced nafta deal be reached, and, you know, we'll take whatever we can get with china,

but it's not anything formal there's a lot that can happen. last year, whenever china opened up the beef market again, it still took a number of months for the first shipment to go through, so there's a lot that can happen, just, you know, in the time frame of these negotiations, that is -- that doesn't provide any certainty on the farm where we are making our decisions on a daily basis as to how to run our operations. >> so, casey, do you think farmers are better or worse so far under the trump administration >> well, i think the trump administration has been friendly to farmers that's why we supported him as strongly as we did we've seen regulations rolled back we've seen positive real action in the form of tax policy. we've seen that he is interested in enhancing trade agreements that work. that's our hope that he will continue down this course with nafta because that is a realtime win for us

we believe he knows how to make a strong deal, a good deal, and that's why we support him and just hope we continue on this path >> all right, casey, thanks for the time today >> thank you >> casey represents america's farmers. they are not the only group impacted by easing tensions with china. look at this, sky you knskywork positive, and micron is up 4%. to find more on that part of the story and impact across other u.s. industries right now on cnbc.com 50 minutes left the trade on monday morning the dow up by 290 points at this moment that's up from the session highs at 37 is 1 poi1 points, but a resoundingly positive day. nasdaq and s&p up near around half a percent should the government regulate tech giants. that's front and center after a "60 minutes" report after the rise and dominance of google

tesla rallying after a wall street firm slapped a price target on the stock. raising fresh concerns about the model 3, and we'll tell you what they found when we continue. cnbc sector sort is sponsored by -

welcome back to the "closing bell," with today's rally, n nasdaq is 3% from the record highs in march, bertha has more. >> fantastic job over the weekend for the wedding, by the way, but the highlights are in the russell. inching further towards fourth straight day for yet another record close mb financial 4.7 billion merger, and foundation medicine up on its approval of diagnostics testing, and in large caps,

microsoft provided a big positive point impact to the nasdaq followed by apple, which gets roughly 20% of its revenues from china, and that's a big story today. the chips are really where we are seeing the biggest lift from easing of concerns over tariffs with china those retaliatory tariffs. micron raised revenue guidance ahead of analysts today, and the chip maker gets more than half of its revenues from china intel is a quarter of the revenue, and skyworks has more than 80% exposure. interestingly, chinese internet stocks took a hit. they sold off global ad tools at baidu, and they are focusing more on a.i. kelly, i got to say, i woke up saturday morning, totally surprised. i made the coffee, like, that sounds like wilf, that is wilf, fantastic, really, seriously >> your favorite part? >> you know, i didn't get early, early in the morning, but my favorite part, i saw later on

instagram were harry turning to her when she came to the at tar and said, you look amazing, i feel so lucky. my heart melted. >> the third line was that was i missed you as well i've seen the full exchanges because lip readers were there getting that i agree, that bit was incredibly sweet. thank very much. >> bertha up at the nasdaq last night, "60 minutes" looked to increasing the debate of whether google is a monopoly, and tomorrow, facebook's ceo meet with leaders of the european parliament and the meeting will be streamed live now. >> i'd like to see it. >> i wonder what time it is, though it's presumably early in the morning for us >> people got up on saturday this is more important to us, to cnbc viewers anyway. >> sure there's questions whether facebook as well as google and the rest of them are simply too big >> let's talk about facebook tomorrow and "60 minutes" report

on google, gary, featured on "60 minutes," and brought antitrust charges against microsoft 20 years ago, and gentlemen, good afternoon to you gary, firstly to you off the report yesterday, what was "60 minutes" report that could potentially lead to significant action moving forward? >> i think that the real news there is that this issue has become such a big issue that a show like "60 minutes" would feature it as a lead item. that's really more important than any particular fact disclosed in the segment >> gary, you were the microsoft prosecutor, right, in the antitrust, that whole episode? >> well, i was not the government prosecutor, but i'm generally credited with aiding the government in bringing this case >> so what parallels do you see

between microsoft then and google today >> oh, the conduct, of course, is very similar. i mean, the technology's different because it's very advanced now, but the conduct that the two companies engaged in is very, very similar, both used their market power to squelch competitors and particularly new innovative companies. the one difference, of course, is that google's technology is far more intrusive into our daily lives. it's very intimate kind of technology, and, therefore, the threat to our individual freedoms is much greater >> jimmy, we got a statement from google today. they said this, "our responsibility is to deliver best results to our users, not specific placement within results. we understand those sites would be unhappy and may complain

public publicly." over all, is that a point? the service is free. >> yeah. the consumers have a free service, and to give up that service, you would have to pay consumers hundreds or thousands of dollars a year. that is the tremendous value that google is providing and others whether it's facebook, amazon, and they are full of value. we have to be extraordinarily careful before we think of heavily regulating them, breaking them up there needs to be an actual theory of harm we're not going to go after the companies just because they are very successful or they are very big. is there -- are there consumers harmed they -- in terms of activists, unable to prove that, so they are trying to create different theories, squelching innovation, there's no empirical data, that it's bad for democracy, bad for inequality, hijacking our brain stem because they are addictive, unable to have a theory of harm.

if there's no theory of harm, maybe we need to hit the pause button here. >> gary? >> theory of harm here is exactly the same at the theory of harm in the microsoft space exactly the same you don't need to show a consumer over charge, none was shown in the microsoft case. google manipulates search results. it's in the fdc report whatever they say today, the ftc report quoting their own documents says that they made a list of competitors to target, and they took them down 20% and were flgleeful result there's no controversy as to what they did. one last point here, these services are not free. every time you make a google search, google gets 25 krecentsn ad value they take it from you. that's the value of your privacy they exploit >> to jimmy's point, why hasn't

the government moved to break them up? >> well, first of all, government needs to be moved to investigate them more thoroughly break them after a trial, but we need a thoroughly investigation, have the government bring charges, and have a public trial. then we can figure out what the best remedy is the government has not acts yet because during the obama administration google gave so much money in campaign contribution, so close to the administration, no action could be taken >> there are perhaps the theory of the case just didn't work what you actually have is a bunch of companies who are desperately fearful of competition that there's going to be -- there's going to be another competitor, that amazon takes business, they are locked in a heated competition with each other as well as concerns about being disruptive or displaced by future competitors

so they spend tens and hundreds of billions of dollars a year on research and development that is not the behavior of a forever dominant monopoly squelching innovation. there's zero evidence. all i hear is an ant dote here and there, but no portfolio of evidence that leads me to believe there's an actual problem here i think this should be a problem -- not just that they are big and doing very well, and that they are successful that's not why we go after companies. >> all right, got to go, gary, a quick final word quick final word, gary >> the last commentator did not watch the "60 minutes" episode they showed -- >> it's the same four guys who bash the companies over and over again. >> the evidence is overwhelming. >> whether you saw the tape, everyone appreciates you putting it in pithy way for us one more shot. >> take a look at what the

companies are doing. they are affecting the markets in silicon valley. >> amazing innovation and great paying jobs, they are doing that >> jimmy, gary, thank you, both, for joining us >> you bet >> google stock is pleased apart from the episode, they have been on facebook, not them, and focus back on facebook tomorrow morning, of course, with zuckerberg >> calling consumers to break facebook and messenger and instagram, i think >> all platforms you use >> true. anyway, that's another story 40 minutes until the close now dow took on a 300 point game, s&p 19, nasdaq up 9, and russell with another all-time high today. review of the model 3, and what could have bulls pumping the brakes how high will crude rise levels not seen since 2014 what's behind the rally? what's it mean for your wallet

it can grow out of control, disrupting business and taking on a life of its own. its multi-cloud complexity creating friction... and slowing innovation. with software-defined solutions, like hpe oneview, you can tame the it monster. hewlett packard enterprise. less complexity. more visibility.

welcome back, that wedding between harry and meghan was a big hit in terms of tv viewership in the u.s. with over 29 million people tuning in, increase from the 23 million who watched william and kate marry in 2011. in the u.k., it was 18 million compared to 19 million for william and kate >> that's telling, americans

were more into it because an american was involved this time. >> the numbers fit what we expected for two main reasons. in the u.k., clearly, a lot of interest interested by the 18 million number, but harry's not going to be king, william was, and there was another sneaky, and why william and kate got attraction then, it was a friday and given a free day off why not watch it >> you might have seen this guy, too, in fact, i saw nbc led ratings for the broadcast networks >> they did, indeed. it was a treat to be there, a lot of fun, a special day for the main reason, of course, just being there, they looked so happy, the two of them, but great fun. >> you looked so tall. it just cracks me up >> well, that was because those chairs were not adjustable >> you are >> well, i am tall, but the nbc great set, but no adjustable chairs, so, yeah, that was that. almost taller than the castle.

>> anything good to share with us any fun behind the scene tidbits? >> i don't think so outside anything that was, you know, on air, but and that we can reveal, but it was a lot of fun and great to see that marriage of the u.k. and u.s. as well. >> i think yours is next >> what, my wedding? >> i think you will find an american lass. that's my -- >> where we rival viewing figures? i doubt it >> i don't know. anyway, let's look at two stocks to watch for you today >> first up, we got tesla, stock up more than 2% after they were raised a price target to $500 despite the bode of confidence tesla secure recommendation from consumer reports citing issues with braking and difficulty to use control. albeit, read through the report, it says that they actually are pretty positive on other aspects of the car not as resounding a report as they could, but they have not have a great relationship with this consumer watchdog, but they

liked the handling and battery life that's much improved. stocks are liking that upgrade was down seven sessions before that >> that's true model s got incredible reviews to help its success. starbucks is an amazing story over the last couple days. this is all you need to know from the journal today, saying, star bucks says drug use and sleeping are unacceptable as it clarifies its policy over the weekend, of course, starbucks said we're going to make it a company policy that anybody is allowed to use our restrooms, wilf, rendering them public restrooms it's not a fun place to be if you've seen a public restroom. starbucks with customers and others are concerned about what this looks like in practice. they are trying to say, well, it's not going to be a homeless shelter or drug haven. >> they had to change this policy off the fallout of the issue we all know -- >> they chose to change it >> they chose to change it it might work out as a clever point as people come in anyway, stop to buy a coffee when they

did not plan to. why should the the restaurants have to let anyone they want to come in? >> they are well-run, trust me, if it's suddenly that anybody can just walk in, camp out there, use the restroom, it's going to be a problem for starbucks. >> that's what i'm saying. unfortunate they are in this position they could use the chairs instead of the people who bought coffee i think they made a mistake, and i think they have been forced to go too far in the other direction. >> i agree with you in the sense that i said they have to reverse the entire policy at some point, or others pointed out they probably are going to be -- start closing down restrooms period in locations so managers and other patrons avoid the issue. again, i dealt with a lot of creepy things happening in starbucks locations, okay, and sometimes they have to call the cops, and this was before the policy it's -- this is raising concerns anyway, the stock's up about a

quarter of 1% today. >> let's have a look here at the broader market, very quickly, we are higher, but we are off the high today, still more than a percent for the dow, and you can see .6%, and nasdaq up a third of 1%. time nor a cnbc news update, sue? >> hello, and welcome back, by the way. here's what's happening at this hour, everyone the man shot by officers at the trump national golf resort friday morning is now in jail. he appeared before a miami judge this morning after spending three days in a hospital he faces nearly a dozen charges including attempted second degree murder. chef mario under investigation for allegations of sexual misconduct ranging from sexual harassment to assault with claims he groped women in a third floor party room at the restaurant spotted big in new york city. he's denied allegations. the supreme court delivering a blow to the rights of workers by requiring companies to

require them to sign away their ability to waive accidents the postal service is introducing its first ever scratch and sniff stamps the frozen treats stamps debut in austin, texas they add a sweet scent of summer to letters that is the news update this hour, and, wilf, i have to tell you, i loved seeing you on the "today" show, you were amazing, fantastic, terrific, and as a result, i had several pens in your honor >> well, sue, i hope you had them regardless, but sweet of you to say i'm sure -- i was confident of all of our colleagues watching in a way that david faber and carl - >> i was from the beginning to the end. the weather was fantastic. >> the weather, all four days i was there, for may, i mean, very, very lucky indeed. >> really were

>> meghan and us >> well, welcome back. >> there was nothing over you? >> a bit of cover, but we could have -- i mean, in fact, i got sunburned instead. but, you know, fair skin for you. sue, as ever, thank you very much for that. >> you got it. we've got 28 minutes to go until the close. >> you got sunburned i love that. like, it was sunny for four days it was sunny for four days, and i got sunburned. i would have been the same way >> great producer will be laughing that's what happens. anyway, we have got 27 minutes to go, up a percent for the dow, nasdaq, and s&p trailing, but still higher up next, a special report on the controversial election in venezuela. the global education of the country's economic free fall to be discussed carl icahn weighs in on the rally and what he says could propel the market higher that's after the break

welcome back, venezuela has elected the second term to the president as the country struggles, and michelle caruso-cabrera is following this story. >> i saw the air quotes, kelly, emphasis in the air quotes of

the election president trump signed a new executive order this afternoon following the results of the controversial venezuelan election the executive order is designed to try to prevent venezuela government to sell off assets that is bringing them much needed cash and prohibits americans from buying state owned assets or providing short term financing for the government's accounts receivable owed to the government no one was shocked to hear that maduro was reelected leading up to the vote, they were explicit stating they should not hold the election, labeled a sham, by many international institutions there could be more sanctions to come beyond the new ones tea they could target the oil sector itself the strongest sanctions is a full embargo on venezuelan oil, and they supply 600,000 barrels a day to the united states >> the people who did vote for the regime, you hear they were offered potentially incentives or prizes if they did so

they had people going door-to-door in the slums s saying, who did you vote for make sure it's the right person if you want food to come back. >> absolutely. some were offered food you look at historically turnout in venezuela, it's as high as 80%. they think it was less than 50% in this particular election. the opposition told people not to bother because, as they said, kelly, so much intervention so to speak on the ground >> right >> michelle, thank you very much for that reminds me of the other big election over in russia. >> oh, yeah. another air quote election >> exactly michelle, thank you very much for that economic fallout is just one factor impacting the oil market. crude climbed again today hovering near the highs since 2014, and we have more from hq on that. >> well, what's interesting, wilf, crude is flying higher in the face of a very strong dollar right now. we don't see that often. even with the dollar index up a little less than 4% last month,

crude up almost 6% in the same time period. the reason crude is flying in the face of this strong dollar is some of what you guys just mentioned. there's compelling reasons to go up right now the first, of course, the supply what happens with iranian oil and venezuelan oil some supplies could come off very fast. number two, middle east conflicts. guys, tensions are high, traders are focusing and fearful of conflict there third reason, demand forecasted to be robust. as long as oil prices are not high, push it back down, demand will be well into the next part of the year. fourth reason, summer driving on friday, memorial day, 37 million people expected to travel on the road a lot of reasons to move even past the $72 mark, guys? >> oh, i'm going to try to stay home thank you. let's get to the closing bell exchange here, and we have jeff powell from the financial group, and cnbc market analyst, and our

own rick santelli at the cme in chicago. steve, pick up where we left off? >> crazy, being a roman catholic, i take a lot of heat for that >> bet you tuned in, those who listened to it, didn't listen to it, my mother left me a message, you and the pope were so tight you know, so it was -- it was -- >> well, what are your thoughts on capitalism as we look at the markets here today in. >> look at it today, volumes are -- this is a yearly low right now. this is the year's low in volume, maybe a slow week heading into that three-day weekend, i should say, and people are sort of absorbing headlines. this pace does not lack for numerous headlines whether it's trade policy, but lets stick there. we have a bunch of m&a activity before the bell, bunch of m&a headlines that should rally the market, and that trade headline was super soft from what we've been preparing for, so any of the trade headlines still have the ability to pop and rally overall markets, and the overall

market wants to go back in large cap tech, growth, and with that, you get global growth, industrials, and with that, you see the energy world trickle down has been the energy subsect subsector, so hitting all cylinders, but not out of the woods just yet >> rick, i wanted to get to the moves seen in the italian bond market extraordinarily sharp moves over the days and weekend, but i guess it's contained to italy. this is not, like, 2010 or 2012? >> no. you bring up a valid point it really is somewhat breathtaking you know, look at that italian 2-year at 26 basis points. on may 15th, it was still negative i mean, it's amazing the 10-year, 240, highest yield since june of 2014, most happening in a couple weeks, but, yes, it is contained. what's "contained" mean in this instance we know there was a time where many years ago when greece got its first bailouts after the

credit crisis, it had a more wide effect on all the other countries in the block this does not so much, but that does not mean it's not a canary in a coal mine listen, the movement of some call it populism, some say patriotism, depends who you are, but whether it's italy, u.k., or the united states or other countries, i think it's alive and well and underestimated by all those, whether the political pundits or political politicians, i think the takeaway here is that somebody's going to take a hit when you get full collateral on cyber securities of the southern economies for the european central banks, putting them at prices in yields that are not realistic, and, ultimately, it's a real good experiment because mr. draghi mewants to reign in h spending on a collision timing course with the issues that are

underscored by the movements in the italian sovereign market >> jeff, with all that going on, where do you think the best place is to be in the markets right now? >> well, within the u.s., it's really, i mean, with all the trade winds, stuff going on with china, i mean, technology looks very good, and a rising rate environment with really almost no debt, in that specific sector of the market, technology looks really like the best place to be right now. >> you don't mind the fact it's the biggest by far waiting of the market that we've been talking about all the regulatory pushes coming down the pike? it's overowned and overloved, at least in the investment community side >> you know, it is by far the largest segment of the s&p 500 and least debt ridden and has the largest amount of revenue coming from international sources. right now, looking at the growth pattern within the united states and as well as the growth pattern abroad, growth comes from international sources so being in front of 60% of the revenue coming from

international sources, so to be in front of that segment of the market and potential of a trade, you know, getting a trade deal with china completed here, that looks very, very healthy for us to be involved in technology stocks right now >> all right jeff powell, sticking with tech. steve grasso, rick santelli, thank you very much. we got 17 minutes before the close, up a percent on the dow, s&p's just up more than half a percent, and nasdaq up less than that s mpy life as a public coan habeen, quote, an unmitigated disaster why they just upgraded the stock.

the governor has declared a winter weather emergency... extreme risk of burst pipes and water damage... soon, insurance companies won't pay for damages. that is, not if they can help prevent damages from happening in the first place. at cognizant, we're turning the industry known for processing claims into one focused on prevention with predictive analytics, helping them proactively protect the things that matter most. get ready, because we're helping leading companies see it- and see it through-with digital. don't juggle your home life and work life without it. ♪ ♪ don't skip that office meeting for a board meeting without it. don't keep it real... keep it going... or simply keep it in the family without it. and don't turn that business trip, into an overdue family trip without it. ♪ ♪ the more you live between life and business, the more you need someone at your back. the powerful backing of american express.

don't live life without it. yourbut as you get older,thing. it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. kevin, meet yourkeviner. kevin kevin kevin kevin kevin kevin kevin kevin kevin trusted advice for life. kevin, how's your mom?

life well planned. see what a raymond james financial advisor can do for you. welcome back to the "closing bell," up more than a percent for the dow, and most sectors positive today, a broad rally. checking in on individual market movers, ge announcing a merge herb -- merging a transportation business with rail equipment maker. the deal is worth $10 billion net of tax benefits up 2%. snap upgraded to neutral from

sell saying the risk-reward is more balanced and raised the price target to $9 a share from $7 it's up 1 partnersh.5%. they beat on the share price as opposed to fundamentals. >> under $11 right now we go to the floor with mike santoli is posting up boeing >> no other stock moves on trade potentials than boeing up 3 partnersh.5%. tensions seemed to have eased driving the dow. 364 is the late february high right before the trade noise hit the stock, so we'll see if it surmounts that to signal that maybe this threat is diminished for good, guys >> yeah, 100 dow points on its own. by the way, i'm reminded, you should have watched warriors play rockets last night. tune in tomorrow night have you seen curry play in. >> i have not.

>> okay. >> i have not live >> okay. tomorrow evening, set your clock or dvr >> i arrive back late. >> oh, we have 12 minutes to go. incredible game. boeing contributing to the dow, but everybody up today, s&p by two-thirds of 1%, and nasdaq just over a third of 1%. >> sports news, quickly. arsenal can manage it. >> who >> the right choice. good luck to england in the world cup. crypto crackdown, that's next. let's begin. yes or no? do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left.

let's do some card twirling twirling cards e*trade. the original place to invest online.

time for quote of the day, carl icahn said earlier weighing in on easing trade tensions between the u.s. and china let's listen >> caller: i think it's great news about -- about the tariffs and not having a tariff war. i think -- yeah, you know, i think trump did 100% the right thing in getting rid of the

ridiculous regulations that were strangulating companies, and he's done a damn good job on that, the tax thing i really believe it, doing a deal with china is great if it can happen, and i think this is what you have an up market. >> great news if it is positive progress steve mnuchin dialled back sentiment as well as larry kudlow he said there's tools to use that are part of the negotiation, but, clearly, the tone versus a couple weeks ago is mild maner >> a difference of between between trump's advisers some said he is giving his hand, and it feels far from over, i agree, but markets have a one-day reprieve >> we got a very intertwined geopolitical summit coming up with north korea, and depending how that a goes, it could derail or improve the trade

negotiations the dollar index gaining 4% in the last month, major implications to the country's biggest companies. >> we have more on that, seema >> threat of a stronger dollar and future earnings with globalglobal ly oriented companies investting more, it could price out foreign consumers like kimberly clark, johnson and johnson are some of the names that make up 50% of the revenue outside the u.s. a number of retail names have been negatively impacted by a rising dollar. nike, macy's, tiffanys, and michael kors to name a few, they are sensitive to a stronger dollar, and, of course, what you see is weaker oil prices on the flip side, u.s. companies, that derive nearly 100% of sales in the u.s. are

insulated from currency changes, so be as it may, domestic companies may not always expose foreign sales or have a large chunk of revenue associated with multinational companies that supply overseas, and that's some type of indirect currency risk, wilf >> thank you very much for that. we heard new investigations into cryptoscams as well? >> called operation crypto sleeve, wilf, involving regular laters from the u.s. and canada cracking down on money laundering and fraudulent activity, biggest move from government agencies to really take a deeper look how to crack down on this state, which, of course, money laundering is much more prevalenprevalent. up next, coming back with the closing countdown. sensor and this machine are integrated. & she can talk to him, & yes...

atta, boy. some people assign genders to machines. and you can be sure you won't have any problems. except for the daily theft of your danish. not cool! at&t provides edge to edge intelligence. it can do so much for your business, the list goes on and on. that's the power of &. & this shipment will be delivered...

yes or no?gin. do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts?

what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online. the dow, we opened nicely higher, and we pretty much stayed there throughout the day, and it was 371 points at the high, just 300 points at the moment, a resoundingly positive session overall. dow flattens a little bit if we bring in the nasdaq and s&p. you can see they are up a little bit less, dow over a percent, the other two below a percent. sector performance paints that

picture across every single sector higher led by industrials, telco doing well, and health care at the bottom, but positive itself. quick begin on the italian 10-year for you because i think we are not focusing on this story. soaring over the course of the last two weeks telling the story for your 2.42%, up 20 basis points today, up 64 points in the last two weeks alone we continue to see that, and bob, industrials leading the pact >> cyclicals, industrials, technologies back in the lead. no trade war that's a great headline. that's a major reduction in geopolitical winds that was the no. 1 geopolitical risk out there that's a big, big factor we see the russell at a new high, s&p 500, 4% from the new high, better than 2-1 advancing and declining stocks we now have a new high on the advanced decline line as well. >> positive to say, we were down

half a percent last week it is not likely rallied continuously >> no. it's a slow move here since the beginning of may, and we are moves slowly to the high on the s&p 500. >> there's the bell, bob, ringing at the big board here, at supply holdings ringing the bell, kelly has the second hour. ♪ thank you, wilf, welcome, everybody, i'm kelly evans, dow back above 25,000. we started off the year punching through the round numbers, and then we gave it all back, but we slowly climbing back, 1 partnership 2% gains in the blue chips, by far leading the rest of the pack. boeing contributed to the 298 point gain that we saw on the close this the s&p 500 up three quarters of 1%, and nasdaq up half a personality, 7394, and russell up two-thirds of a percent,

1637, and russell continues to close at record highs. dow has not got there yet. joining me now is michael and stephanie, and brian, welcome, everybody. leading the dow today was boeing, showing you how well it did, laggard on the index, boeing up 3.6% s&p, range resources was the winner, and third was the biggest decliner, down 8%, mike. >> made app acquisition. >> right >> that's not the response you want >> we'll see if bank m&a really starts to get rolling if people think it's a great idea. >> what about m&a broadly? >> it's part of the bullish cocktail >> yeah, exactly what was in that cocktail? rip roaring into the session, no tariffs, u.s. and chinese goods back and forth, and we just hung up there all day >> we did. hung up there is a good way to put it because that's how it felt you got a market at the open

because of the overnight headlines about trade. it's interesting i think the good part of this is imagine how much we would have rallied if there was any substantive progress on trade. i say that because i think trade mostly is just back in the mind psychological thing, more risk than reward, so when it's, like, well, we'll just keep talking, that's bullish enough for a market it was already gathering up strength from early april. >> what was curious, steph, the fact that secretary mnuchin said the trade war is off for now usually the markets read between the lines a little bit, but the fact that you wanted to come out and make that declaration i thought was really striking. it must be part -- >> because in response to a question that was phrased that way. >> well, still >> so, this morning, he wanted -- >> i think he's media savvy enough of a guy. robert lighthizer contradicted that, and he said steve is blowing it for trump >> a lot of mixed signals going on with the administration for sure, but, to me, the bark is

worse than the bite in a lot of regards. we're going to talk about nafta in the same way we talk china trade. look at the markets, i see the leadership i like to see when cyclicals do lead, meaning industrials, materials, financials, technology, and they were the leaders today. i feel better about growth and global growth when they lead, and, clearly, china trade progress was the reason for that, but i think to your point before about m&a, we have $30 billion of m&a announced this morning. >> not bad >> that is huge. why is it important? speaks to the confidence of ceos and the boards to actually go and put money out and bid and try to find growth and improve their companies, and so that, to me, was a confirmation that they feel better, and it was not a surprise i mean, earnings conference calls, most quite bullish, and we go back to the caterpillar call, they were bullish. i don't know what they want to believe, but they were bullish >> how have they been since, caterpillar? >> a nice rebound.

industrials are still down about 10% from where they were when they -- from, like, the march time frame, they are coming back, it's a good sign, you know, i think the confidence in addition to business investment, up 7% in the quarter, i think it's also very good, very healthy sign that things are pretty good. >> i know you think we're going back above to the january highs, we're going to get there, get beyond them, right, russell, too, just leading the pack >> well, the russell, too, this time last year was strong, too, and second half of the year, small caps significantly underperformed because what happened was the proof is in the puddle, no tax cuts, and a year ago, too lofty, and now the numbers are real, that's number one. number two, stephanie is spot on with respect to industrials. industrials are a great place to be, and, actually, underowned b clients because they are too afraid about the sectors of tariffs. interesting thing about the

market, we're involved in a market that believes in nothing until they actually see it and feel it. so we can hit above 25,000, it's a bull market. we've been in a bull market for ten years, but we don't believe it until it smacks us in the face it's smacking us in the face right now, and investors need to be invested. >> crude oil going to spoil the party? prices near the highest level since 2014 you have the wti benchmark at 72, brent back up just bethoone $80, and part of the concerns or reasons about venezuela's crude jut put aft output, dramatic move from conoco seizing assets from the country. is this the bull story or a problem? >> it's interesting. goes in the bucket with a lot of other things which are fine until they get to a certain point we can't know. there's all kinds of stirrings of financial tightening going on, whether it's oil going up, whether it's bond yields, whether it's the dollar going up, but they are not in a zone right yet that really says, okay, alarms have to start going

off. oil in the low 70s represents that >> does it make sense? easy conditions for so long, even in recent months when we are ten years into the cycle, we had, like, record easy conditions, so against that backdrop, maybe it's not worrisome. >> markets liked energy up because it was a sign demand improved around the world, and i think it is happening in addition to the supply issues as well clearly, energy, higher energy, and if it goes up materially higher than here, watch it the other side of it, and that is that capital investment within those sectors that are impacted from energy are positively impacted. the consumer will feel is a little bit, but jobs are actually offset and wage growth is offset, so it's a push-pull you got to watch about the speed of how much it goes higher and other commodities too, but i certainly view it positively at this point in the cycle. >> i also curious what you think about the deals with had, shares of regime electric, announced plans with lab tech, giving them

the railroad business, ge up $15 a share, today up nearly 2% on that news. we had the bank deal we discussed about a moment ago as well looking for more on the deal making front >> well, deals are about confidence the ge thing is a stock that, you know, we've owned in the portfolio as the largest contraryian conditions because it's a stock the hedge funds love to beat up on >> sure. >> the stock's not going away. in terms of the bank, look at acquisitions differently the bank acquisition today was about building scale these regional banks cannot -- if they are going to have a a hard time competing with north america -- >> with the deposit share even, the biggest four players dramatically increased shares going back to the price. >> the strength of financial services industry is wealth management and commercial banking. there's not been a major cap x cycle for over 20 years where commercial banks need the model

to afford and be able to provide their clients with bigger loans and have a bigger balance sheet. some of the regional banks cannot compete >> talking about how there's different -- whether it's the real estate investment trusts or hedge funds making loans, all players in the space looking at chipping off part of that traditional space. >> has been for a while now. when it comes to reaction of the market, there's this deal, i think you sometimes have a deal of a test of, okay, why do people own this? because of a simple story, regulation, net interest margin, story changes, i don't want to deal with it right now it does happen once in a while >> sure. >> not just in banking >> what about ge stuff >> so ge is interesting. so i do not own it i think it's a value trap at this point, and i think that this is certainly part of the plan from the ceo to divest out. this is valued at $10 billion if you exclude tax benefits, and they have the path to divest $20

billion, okay, great, halfway there, however, what concerns me is that it does not help liquidity or balance sheet and does not delever their balance sheets at this point you're going from 3.8 lever to 3 partnersh3.7 times, and that's for the company. that bothers me. free cash flow in general bothers me about this and lack of free cash flow so i want to like it. i do i want to be a contrary -- i am, i have a lot of ugly industrials, if you will - >> what could be uglier than ge? >> caterpillar at 70 i bought that a long time ago. that was ugly. now i have plenty of ugly, but it is going to take time that's really at the end of the day, and - >> and it's just a fly or ride just a small amount of capital -- >> we don't have a full position, and the type of emotion involved with the last t ten points on the downside was headlines pummelling the stock

any time you see that, defend it if possible. to be a contrary, if you have the analyst to back it up, the stock is fine. >> pure liquidation into tax day, basically that's not the reason, but it happened that way, and less bad news has the stock up 20%. >> wow, it is 20% now. >> still down quite a bit, though i mean, come on, went from 30, on the way to, like, 10, almost hit 10, i don't know >> a long way to go if it's chewing up the skepticism to go higher >> hanging on to a little bit over $15 right now look at shares of adobe, higher after hours, and leslie picker has more >> kelly, shareholders clearly liking what they are seeing with adobe's new announcement putting cash to work here, announcing acquisition of magento commerce. they say that will help the company expand into e-commerce, adobe crowd, and digital experience said in a press release, this acquisition makes the customer experience, quote,

more shopble -- shopable there's a buy back through year 2021 too the shares up one quarter of 1%. >> no reactions? >> always looking for the wow moment with the buybacks $120 billion company >> fair enough >> 1% of market cap acquisition, i mean - >> acquisition is tiny >> yeah. >> surprised they felt the need to do it at all, never heard the word "shopable" either >> microsoft made the announcement and paypal announcing on m&a too. >> thank you very much talking markets with us. there's more ahead here, and up next, campbell's at a six year low. how a shift in tastes could impact the stock and fate of the countries best known brands. spotlight on theranos, inside the rise and fall of the tech startup with the author of the new book coming up

you get the one-on-one partnership you need to grow your business. the dell vostro 15 laptop. contact a dell advisor today.

well, it's a whole day's worth of love songs.

300 minutes of baby videos. or, it's a million chat messages. a gig goes a long way. that's why xfinity mobile lets you pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay less for data. it's a new kind of network designed to save you money. click, call or visit a store today. welcome back ca campbells soup hitting lows not seen since august of 2015. the ceo is stepping down from

the helm, and they cut the full year earnings forecast, shares down 16 % in a week. it's not just them it's the whole space have they reach ted the bottom? >> that's the question you don't see the blue chip company, everybody knows the brands, everybody thought stable businesses, and now down 20% to 30% year to date on a market better than flat the question is how compromised the underlying businesses are. >> look at the figures, campbells down 30%, and general mills down 30%, and kraft-heinz -- >> the ceo turnover gives you the sense there's no easy strategic fix, and people are struggling with the idea m&a is n not the way out because there's not many potential buyers. the question is, i think i'll write about it, just how this is a close your eyes and buy the stuff that is beaten up the worst without knowing how it gets better. >> some of the brands and

companies we know best could be in doubt to discuss their fate, michael, ceo and cofounder of morning consult, and johnathan from consumer edge research welcome to you both. michael, starting with you, are we talking about a mass extinction of american brands? >> not a mass extension, but we have thens ens of thousands of interviews on these brands, and this disruption caught people off guard. 3g capital was surprised how fast kraft took over what we see day-to-day is they do not understand their millennial and gen z consumers they dropped 22 spots. there's a disconnect from older americans and how they perform with younger americans >> companies like campbells need to go faster they got into fresh foods, bold house acquisition. do they have to redouble efforts, or do they need to

stick with the core competency and think the millennial consumers will come back their way? >> they need to do both, and they need to not just go faster and sell more to millennials, but in a way that's profitable campbell tried that through acquisitions it did not work. it's premiumizing. the market will fragment you, fragment upward. >> premiumizing. so, you know, michael, here's the thing. they are stuck in a situation of trying to say, okay, well, we should change to meet the millennial consumer, but at the same time knowing that might alienate the consumer who still actually likes them or the millennials could change now that they are growing up, raising kids and that sort of thing, will they >> i think this is the biggest issue, if you're on the search committee for leadership, you need people who are digitally native that understand multichannel strategies. it's not just one approach it's a multilevel approach i think what we're shocked by is the market research operations look and feel like the 1990s, and the consumers have changed

since the 1990s. the difference is it's a matter of organic on the label. twice as many people likely to choose a product that's labeled fresh versus organic that's not apparent in the market >> and, john, you said that with campbells, it did not work to do this by acquisition. obviously, others, general mills and others, tried to buy what are perceived to be a better positioned brand, maybe millennial friendly, but is that a process the companies are going to continue to undergo and just look for however expensive it is to buy their way to these new segments >> well, to the earlier comment about, you know, finding these little niches and being a lot more agile there's premium consumers out there looking more than ever to spend more money on food to buy brands these companies have to do a better job finding them and use their existing supply chain and existing brand families to do that >> i'm thinking about the trick experiment when general mills was, you know, going to make the

trix healthier, michael, and the colors got whacky, and people did not respond well they pulled the plug and went back to the original it, you know, so i don't know what else they can do, right >> biggest thing here is you have an incredible amount of data they never before had it used to be expensive for daily tracking you have the capital, i have to be in d.c. today with clients, so what's interesting it's like treating each brand like a political campaign you have understand how to get the voters out and appeal to swing voters from here, if the brands do not have the information to really know how to reach those populations, and across a fragmented media market, you need to be more and more sophisticated in a time in which the companies are too slow to take advantage of the trends >> you're right. it's just like a campaign. who is doing this right, michael? who got the right facebook microtargeted ads and whatnot? >> focused on consumer trends,

broadly, but they continue to perform across each one of the populations, atorade has new sports figures and fans and pulling in fans who did not like the first one, or liked ite iterations of it >> thank you, both, michael, john, appreciate it. >> thank you >> insights on what's happening with the consumer. when we come back, anticipation builds for the release of the disrupter 50 list for 2018 up next, five game changing graduates from last year's list performed since going public, and senator corker says no one cares about fiscal lkononsibility in washingt taing to a deficit bull for the take on what it means for the country's future and fiscal health stay with us or built to last? etfs are only part of a portfolio. so make it easy to explain. give me a quality fund that helps me get clients closer to their goals.

flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. as a business owner, you need to comply with countless regulations and laws to keep your workers safe and happy. but if things go wrong and an employee takes action against you, legal fees to defend yourself can be huge, even if you're not at fault. employment practice liability insurance helps cover these costs. trusted choice independent insurance agents represent multiple insurance companies and customize coverage to help protect you and your business. announcer: to find an agent, visit trustedchoice.com

hello. give me an hour in tanning room 3. cheers! that's confident. but it's not kayak confident. kayak searches hundreds of travel sites to help me plan the best trip. so i'm more than confident. forgot me goggles. kayak. search one and done. anyone can get you ready,

holiday inn express gets you the readiest. because ready gives a pep talk. showtime! but the readiest gives a pep rally. i cleared my inbox! holiday inn express, be the readiest. welcome back, we have an earnings alert, leslie >> falling sharply in after hour trading beating estimates. what's going on here well, those fears, a lot of expectation coming into today's earnings, and while they beat the street's estimate, i would say the guidance did not quite live up to any kind of surprise or surprise to the upside. let's give you the numbers so on the earnings per share, adjusted loss of a beat of .07 a

share versus .12 cents revenue, that was a beat by about 4.5 million. posting $255.9 million for the first quarter versus $251.5 million. that's what estimates projected. now, this company is one that a lot of investors see as benefitting from the trend towards artificial intelligence and big data they have a partnership with nvidia all the factors helped stock prices double over the last year, but, of course, as you can see now, shares are down about over 5% in after hours trading largely because revenue was pretty much in line with what the street was anticipating, and investors were looking for a surprise to the skbrupside kelly? >> thank you, shares down 6% pure storage was a member of the disrupter 50 list in 2017.

we have a look at last year's list now since going public. ♪ >> blue apron is the only one with a rough go, stock plummeting 75% since the june ipo. the meal kit delivery company hopes todaying up with costco and chrissey drives growth tp soaring 19%, the data base software company beat earnings expectations and added more than 800 new customers in the first quarter alone. >> this market is literally one of the biggest markets in enterprise software. >> drop box raising $750 million in march biggest tech ipo in over a year. >> investors are excited about the model, and we have scale from our consumer roots and from the viral growth >> reporter: file shares storage company giving up gains after the first earnings report. >> spotify opened. >> reporter: since spotify's direct listing in april, its

stock is up more than 20%, way down after an earnings report on questions its ability to grow paying subscribers in light of competition from apple docusign public weeks ago gained more than 50% as the e-signature giant grows subscriptions and investors see the potential to grow overseas and disrupt adobe. >> the 2018 disrupter 50 list released tomorrow. any guesses? >> guesses >> eah >> oh, i'm not plugged in enough forever that >> no inside information >> is there a a line on this >> no, no, but i guess you can bet on everything these days >> that's true six out of 50 went public. that seems high. >> it is >> everyone knew they were kind of well-positioned, and they decided to - >> first the trickle, then a flood. >> that's what i'm thinking. >> the air bnbs, the ubers >> few obviously ones. >> these are testing the waters.

big metaphor there boeing led higher, stock up more than 20% year to date. we'll get the fast money trade on whether there's room to run coming up. >> later, the rise and fall of theranos, unraveling of the tech startup with the journalist who led the questioning and investigation of the company we're back in two. at&t provides edge-to-edge intelligence, covering virtually every part of your retail business. so that if your customer needs shoes, & he's got wide feet. & with edge-to-edge intelligence you've got near real time inventory updates.

& he'll find the same shoes in your store that he found online he'll be one happy, very forgetful wide footed customer. at&t provides edge to edge intelligence. it can do so much for your business, the list goes on and on. that's the power of &. & if your customer also forgets socks! & you could send him a coupon for that item. ron! soh really? going on at schwab. thank you clients? well jd power did just rank them highest in investor satisfaction with full service brokerage firms...again. and online equity trades are only $4.95... i mean you can't have low cost and be full service. it's impossible. it's like having your cake and eating it too. ask your broker if they offer award-winning full service and low costs. how am i going to explain this? if you don't like their answer, ask again at schwab. schwab, a modern approach to wealth management.

♪ the kenya tea development agency is an organization that is owned by tea farmers. every week we sell this tea, we get paid in multiple accounts. we were looking for a bank to provide a safe and efficient technology platform to pay our farmers. citi was the only one that was able to ensure that this was done seamlessly. and today, at the touch of a button, all the farmers are able to get their money, pay school fees and improve their standard of living. with citi, we see a bright future for our farmers and their families. ♪

welcome back, it's time for a cnbc news update with sue, hi, again. >> hello, kelly, hello, everyone the world health organization begun vaccinating people in the democratic republic of congo to combat an outbreak of ebola. a nurse died in a rural area of the country today bringing the number of dead so far to 27 people there are 27 other probable and suspected cases of ebola the supreme court delivered a blow to the rights of workers by allowing companies to require workers to sign away their ability to bring class action claims against management. this by a 5-4 ruling with the courts conservatives in the

majority john blankenship bids fortunate senate in west virginia after losing the gop nomination earlier this month. he'll run as a member of the constitution party, but he will have to overcome a west virginia law that prevents candidates who lose a major party primary from running with another party and on the bigisland of hawaii, lava is still gushing from large vents in the ground as the kilauea volcano does more damage the law that shooting 50 feet into the air and pours into the ocean. amazing pictures to look at. you're up to date, kelly, that's the news update, back to you >> sue,i inthank you very much. this is wall street today, dow shy of 300 points, closing above 25,000 we originally broke through the level in january the s&p was up 20. nasdaq up 39, russell up 10, setting all-time highs today checking out shares of boeing,

best day since april 25, a big part why the dow did well today. boeing had the biggest dollar impact adding 80 points on the close. joining us for more "fast money" traders, guy and brian, welcome to you both. guys, do you buy boeing here - >> yes next question. >> it trades like it's a small cap hot high flying tech name or something. it's crazy, right? >> it trades like it is one of the best cap flow situations and best backlogs, and i'd say, and mike disagrees with me to the left, but he says it's rich. it's 21 times forward earnings that's not that expensive. this was creating close to the 30 times months ago before they raised guidance and all fears came in. now, wait a second, the whole chinese thing is a bit of a -- >> did you like it at 31 times >> yes you know, i'll say this,ly s ltl say this we talked it was expensive, but that's a chance to grow into the

valuation, and that's what is happening. the pushback, boeing at all-time highs, it's not all that rich. >> yeah, i mean, i think, listen, you got to play to the breakout on this thing, not only do you now have the global trade war off the table for the time being, but what if you get weakening of the dollar a bit? that's a tail wind for boeing for the stock and look at the volume we have today as you mentioned, kelly, massive volume on the breakout something they want to buy >> bk, by the way. >> just to clear that up >> all right, let's get m-swizzle here >> guy anticipated my -- no, global monopolies are hard to bet against when the cycle's in your favor that's why boeing is here. excess of certainty for years in the future, in my opinion, on how this is going to go. it does not mean it does not man out that way, but people agree on what they are saying. >> bk before this set, we stand here and wait for you to come to us and chat.

he was juking to me about revelations like giving me biblical stuff, scaring the out of me, you know what i'm saying. >> please share. >> no, no. revelatio revelations. >> i don't think we have enough time >> just saying >> oh, the law that. >> the defense stocks are not bad in that situation. >> exactly my oint. >> okay. well if that's jr. justification for holing, that's hard to argue with guys, thank you, both. brian kelly and guy, there's much more coming up at the top of the hour on "fast money" at 5:00 p.m. eastern time long time deficit hawk bob corker raising a white flag this weekend. this is what he said in the meeting of the chattanooga bar association. [ indiscernible

>> nobody cares is what the senator said and president will not deal with it discussing those comments now, former pennsylvania governor, pro-chair of the fix the debt campaign, governor, welcome. he's right, right? i mean, this is clearly -- write call the scare articles you want, but it's not really moving the voting base, is it >> no, no, no, nobody does care, in fact, great respect for senator corker, but if he was so concerned about the debt, why didn't he vote for the tax reform package added 1.5 trillion dollars to the debt >> he's been a pain to trump because he keeps, you know, trying to couple -- ook, he's leaving, he's going to be done, he's trying to throw the hands up, i got in the senate to focus on this, tried a few times to push back over the past year, nothing happened, became kind of the person, and he's done. >> well, he is done, but he could have made a stand and would have taken people with him. he was always our best deficit hawk in the senate, but he took

a pass on the tax reform bill, totally up paid for, totally outrageous, $363 billion of tax breaks for real estate developers, and who needed that? >> yeah, but it's not just about the tax bill, governor, as you know >> it's about the spending bill. >> no, but it's about the whole trajectory of how we got that, and that entices every administration through this one going back through the last time we had a surplus with president clinton. >> absolutely. >> only responds to the voting base, and it does not feel this is an issue the public cares that deeply about. >> because of the public does not look down the road in five, ten years down the road when the debt is way up there, up there way beyond what is safe, we're going to have to cut social programs, so all my progressive friends who say, let's spend money, debt does not matter, they are wrong when the debt is high enough, that's going to be no money for social programs. people who care about military spending, remember, that's discretionary spending too it's less money for military

spending >> yep >> and how about our leverage when we do trade talks for example, with china, how much leverage did we have when china knows that the new debt that we're accruing, we're going to have to go to them to buy our debt >> well, let me bring mike in here for a second, mike, because you know, i was obsessed with the pension issue because to the governor's appointment, i don't know how it gets resolved. it's the thing hanging out there, growing larger. we know it's unsupportable at some point, and it's the enti e entitlement issue on the federal deficit side, but what's anybody going to do about it right now >> well, what's interesting to me, people who were very concerned about debt levels and the deficits and the structural problems for a long time said, if we don't do anything about this, we'll end up like japan. >> huh >> interesting, people look at japan and say, maybe there's no pain associated with this massive debt to gdp levels if you print your own currency, make good interest rates, they are low, not saying it's

correct, but it's fascinating that's the direction the debate is shifting now. >> good point. governor, thank you for joining us >> my pleasure >> governor rendell trying to fix the debt he's the only one. we have a check p shshopify. >> falling due to the announced acquisition of $1.7 of spotify, and both companies create platforms for e-commerce allowing for checkout and design of the websites for e-commerce, and investors in shopify are stooped by the idea of their biggest competitor inside adobe with the fire power that acquisition might entail back to you. >> there's the big mover out of the story. what's in adobe? >> and the shopaboility. >> that explains the whole thing. down 4%. henobs offered a story called

"tras deception," speaking with the author of the rise and fall of the high flying startup.

welcome back, we have news from washington, and what's the latest >> reporter: the statement here from sarah huckabee sanders, remembering the president had a meeting with rob rosenstein and the fbi director spoke about the

tweet yesterday in which he demanded the department of justice investigate whether or not anybody associated with the obama administration in 2016 had used surveillance for illicit political purposes, demandsing action from the department of justice, had the meeting at 3:00, since has broken up, and now there's a statement, planing what the outcome was they say, "based on the meeting with the president, the department of justice has asked the inspector general to include any irregularities with the federal bureau of investigations or the department of justice's tactics concerning the trump campaign and it was agreed the white house chief of staff kelly will immediately set up a meeting with the fbi, doj, and dni director of national intelligence target with congressional leaders to review highly classified and other information they have requested. it appears the president's demands from twitter resulted in two pieces of action

one is expanded inspector general's campaign or investigation rather into this issue of whether anybody in law enforcement did anything political motivated or inappropriate, and also now a new meeting with the chief of staff, john kelly here, and relevant stake holders to look into this issue of classified information that folks on capitol hill wanted to get from the department of justice, but the department of justice has been up willing to turn over saying that if they do that, they could be exposing valuable sources to put their trust in the department of justice, kelly. two pieces of information here on what the response is now to the president's command to the department of justice. >> eamon, thank you. >> reporter: you bet theranos is under fire, and it was on "60 minutes" last night. take a listen. >> they were instructed to fake demonstrations for investors who visited company head quarters. >> it was a show

all they would see was their blood collected. they did not see what was going on behind closed doors about how it was processed >> they got their finger pricked with a small amount of blood, be let out of the room, have a meeting, lunch, whatever, and at which point, run in the room, grab the cartridge, bring it into the lab >> doing the testing >> absolutely not. >> who was doing the testing >> it was scientists at the bench. >> a couple weeks ago, an early investor tim draper defended the ceo, elizabeth holmes. >> i feel that we have taken down another great icon. >> 900 million dollars went into theranos >> it was an opportunity >> it's worthless. amazing it wasn't to a technology that claimed to have invested - >> it's worthless because this

ri writer was a badger going after her, like a hyena going after her and it became a bigger and bigger thing >> it's a big thing, and joining us is the hyena following the story since you broke it, author of "bad blood," welcome to you >> thank you for having me >> first of all, how does she have people like tim draper so -- what is the word -- entranced by what's going on the whole board and everybody for years this has been going on >> yeah, one thing to remember about tim, he was the first two cut her a check when she dropped out of stanford and the reason he did is there was actually a relationship between the families, elizabeth and her family lived increase door to the drapers in woodside, california >> i can almost forgive him because of that. but what about everybody else? all along there was, i guess, not signs, but when the article

started coming out, people kind of did not want to believe it. they have george schultz on the board, and the grandson caused a family rift for blowing the whistle what happened there. >> i want to go back to draper for a second understandable he's reflexively defensive because that was his daughter's friend and he was one of the early funders, but now that you have fcc charges that detail exactly all the elements of the fraud, you know, still defending her is really hard to understand, and i think in this case, draper just does not want to admit he's wrong. he's letting his ego get in the way of his judgment. >> is that true for elizabeth holmes herself what's the mentality now as i understand, the fcc charged this as a fraud. i believe she cannot participate in the industry, but she's still ceo, in fact, just weeks ago, trying to raise more money >> right although, my understanding, according to sources who move interactive with her recent by

that they are circling the drain. the other thing bearing watches is that the fcc's investigation was not the only investigation that was happening there's been another parallel investigation going on for more than two years by the u.s. attorney's office in san francisco. my sources tell me that that's an investigation drawing to a close, and it very well may result in criminal indictments of elizabeth holmes and her exboyfriend. >> wow >> what are the explanations how this happened? so many people believing it, they wanted to believe there was a technology that was possible in the area, was there ever a kernel of anything there in terms of a potential competitive advantage? >> well, there were really three versions of the technology four if you count the original idea, the futuristic patch to both diagnose you and cure you simultaneously that was science fiction pivoted to an attempt of a microfluid device, and after

years of banging heads against the wall, she and the engineers abandon that in 2007, and they pivoted to what was essentially a glue dispensing robot. one of the engineers ordered a robot from a glue dispensing robot maker in new jersey, and then figured out how to make its components smaller, and that was the innards of theeddyson, and the minilab was a prototype in no way, shape, or form ready to be deployed on patients, so what she and sonny, her boyfriend did, they dusted off the edison, a limited machine that could only do one class the blood tests, and did not do the tests well, and for the majority of tests on the menu, they did with commercial analyzers >> as this was going on, the employees as some made it clear started to realize, look, this is not what -- we're selling

people a bad bill of goods, and what are the interviews you conductsed been like do people feel conflicted whether to speak up? feel a lot of punish to try to help make this, frankly, fraud, as you called it, work >> there was tremendous pressure on my sources before my first story was published, and it continued, in fact, for several months afterwards because, you know, the company let it be known always it was not afraid to sue ex-employees or current employees. elizabeth sued early employees, and so there was that precedent, and there was david boyce, outside counsel of the company, and he acted as a scarecrow giving credence to litigation threats, so the whistle blowers who spoke, they did so at great personal risk. >> other thing too, emblematic that the board was star-studded. everybody associated with the company was a huge name, and i

don't know if that's one of the main lessons people should take from this. >> well, they took advantage of the fact, first of all, silicon valley is who now owe,knows, th might have something. >> we've seen stanford dropouts do it before. >> one of her strategies was always to surround herself and win the backing of someone with credibility and someone with a prestigious reputation, draper and stafford engineering professor were the first, then donald illusion who helped groom ellison and schultz. schultz came along in 2007 and joined her board and introduced her to buddies at the hoover institution, think tank on the stanford campus. that's how she came to have henry kissinger and bill perry and all these former aging statesmen, sort of larger than life pictures on her board. >> i heard jennifer lawrence is going to play her in a movie

that is true >> that's right. >> who is going to play you? >> i don't know. i've been joking, i'd like it to be the actor who plays thor. >> i think that's the perfect fit. >> our biceps are similar diameters. >> congratulations on all the reporting and the book which i hear is a very good read thank you for joining us to talk about it. >> thank you very much for having me. >> is there hope for beleaguered? maybe if you're blue apron they are taking a page out of a familiar playbook. we'll explain coming up. ahead on fast money, one of the biggest bulls says there's nothing to fear in this market tony dwyer says why. well, i thir has just the thing for you. check this out, td ameritrade makes it easier to find the investments

that might be right for you. like our etf comparison tool it lets you see how etfs measure up to one another. analyst ratings and past performance... nice. td ameritrade also offers access to coaches and a full education curriculum to help you improve your skills. that is cool. and if you still have any questions you can always chat with us on facebook or call our experienced service team, 24/7. yep. just because you're doing it yourself doesn't mean you're on your own. that's great. you're still up. alright. you're still up. if i knew you were gonna run the table i wouldn't have invited you over. call (866) 296-7451. act now to take advantage of commission-free trades for 90 days, plus get up to an $800 cash bonus when you open and fund a new account. ♪

welcome back in case you missed it, blue apron was up nearly 7% today next week the company is launching unboxed. it's a series of national pop-ups for in store experiential events aimed at hosting new products you're looking at one of the locations set to open in manhattan. shares are open 50% since kevin o'leary picked the name in the stock draft last month congratulations to him for maybe -- >> he has the hot hand in the group. he invested in -- >> boeing last year. >> no, no. a company in this area. >> plated. sold to albertson's. >> that's probably the reason. >> or kevin o o'leary knows is

well. >> the cost effect of physical rivals online. >> that is all just a publicity stunt. i don't know if it's going to do anything but i would like to see if costco works out that could truly be a game changer get that costco customer interested. >> that's somebody who walks by and decides to try it. not e-mail, search optimization. >> exactly. >> i still think they have uphill climb because it's perceived as i pay for a box of work. >> i take issue at the amount of protein you get or don't get really, the husband does on his behalf i take issue up next check on today's headlines moving stocks after hours. close canniing bell is back in . it's absolute confidence in 30,000 precision parts.

or it isn't. it's inspected by mercedes-benz factory-trained technicians. or it isn't. it's backed by an unlimited mileage warranty, or it isn't. for those who never settle, it's either mercedes-benz certified pre-owned, or it isn't. the mercedes-benz certified pre-owned sales event. now through may 31st. only at your authorized mercedes-benz dealer.

(barry murrey) when you have a really traumatic injury, we have a short amount of time to get our patient to the hospital with good results. we call that the golden hour. evaluating patients remotely is where i think we have a potential to make a difference. (barry murrey) we would save a lot of lives if we could bring the doctor to the patient. verizon is racing to build the first and most powerful 5g network that will enable things like precision robotic surgery from thousands of miles away as we get faster wireless connections, it'll be possible to be able to operate on a patient in a way that was just not possible before. when i move my hand, the robot on the other side will mimic the movement, with almost no delay. who knew a scalpel could work thousands of miles away? ♪

hours. first up shares of adobe ticking higher after $8 billion stock buyback also saying it's acquiring digital platform imagine emulc agento for $1.7. shopify, a competitor, fallen about 4% at the lows, 2 1/2% after hours.

on news adobe could ramp up the competitor disrupter 50 pure storage beating earnings and revenue estimates in the first quarter those shares taking a hit after hours falling more than 7% mike, we also have a lot more earnings coming our way throughout the remainder of this week what's your reaction >> i think investors put it in their back pocket that earnings on balance are going to be fine. they definitely are some kind of litmus test for the consumer. >> i was going to describe this as a mine field, consumer package food companies like hormel. >> retailers. >> it feels like maybe expectations are low enough this could be a field of delightful surprises. >> my guess is it's going to be what earnings season is, offsetting give-and-take based on the guidance and expectations i do think the market itself has work itself back into this place where maybe it gets the benefit of the doubt again the s&p 500, 2750, a lot of people looking at that.

>> going over 25,000 on the dow, how big a deal is that >> something wasn't magic when it hit that in early march and fell off a cliff. the attempt of recovery from low end of the range is more convincing. >> we will see that does it for "closing bell." as always "fast money" begins right now. >> "fast money" starts right now. live from the nasdaq market site overlooking times square brian kelly, dan nathan, guy adanny bitcoin cash is king outperforming rest of the universe in the last month there's one reason why the party isn't over according to crypto baller he'll explain. stocks soaring and chart master says the worst is over for the industrial giant he'll tell us why he's so excited. first we start off with the words that sparked the market rally. >> what i would have really said