it is 5:00 a.m here are your top five at 5:00 a judge okaying at&t's $85 billion takeover of time warner. is a huge new round of media deals in the works the federal reserve likely to raise rates again today, is this a threat to the bull market. shares of zte plunging the telecom giant resuming trading following safsnctions alleviating. and seattle rolls back its employee head tax. it's wednesday, june 13th. "worldwide exchange" begins now.

♪ we won't let anything pass you by, don't worry. good morning, welcome from wherever in the world you may be watching so glad you're joining us on this busy wednesday. let's check on your investments. stock futures, they may be the only thing not that busy they are flat to slightly higher yeahthnorth korea summit is over, but the market is waiting on two things, the federal reserve's interest rate decision today and maybe more importantly for the world the ecb's decision on rates and whether to pull back on qe of its own. that decision tomorrow a bi48 hours for your stock investments. we'll get more on that in a bit. right now to your top corporate story. it's a big one a federal judge ruling in favor of at&t's $85 billion deal for time warner. it's a huge win for at&t

it's a bit of a rebuke for president trump who sought to block the deal let'get to hampton pearson for more >> a stunning victory for at&t late yesterday a federal judge green lighted at&t's takeover of time warner, clearing the way for the $85 billion merger the judge told a packed washington courtroom that the justice department failed to prove its charge that a combined at&t/time warner would lead to higher prices for pay tv subscribers and more leverage for the firm when dealing with competitors. i conclude the government failed to meet its burden of proof, the judge said now after the ruling the government's antitrust chief steered clear of cameras and microphones and this statement from the justice department. we are disappointed with the court's decision we continue to believe that the pay tv market will be less

competitive and less innovative as a result of the proposed merger between at&t and time warner for the at&t/time warner legal team victory at the end of a regulatory marathon. >> w u 600 days since the merger was announced back in october of 2016. and that it's unfair to the defendants, to the hundreds of thousands of employees of their companies whose lives have been hanging in the balance and to all the shareholders and all the other constituencies of these two great companies. it's time to complete this transaction and move on. >> now the judge placed no conditions on the merger, and no word yet from the justice department on a possible appeal. the deal is set to close by june 20th >> hampton, appreciate it. we'll see you soon, i hope i know that you are heading off literally into the sunset, to scottsdale it's been a pleasure to know

you. hope to see you again in the future >> thank you very much >> you'll be on air all day, my friend let's bring in matthew gerrihan. you heard that report. s literally opening up the floodgates to what will be a media dealmaking frenzy? >> i think you're right. i think it will. starng from today we're expecting a bid from comcast for the fox entertainment assets fox has a deal with disney in place. comcast will try to come in over the top and take that out from under disney's nose. there are other deals that could percolate. other media companies are in play crucially, because of the at&t/time warner deal was a vertical merger, there could be other vertical mergers they're back on the table. expect to see maybe verizon

aligning themselves with content companies, broadcast networks. anything is up for grabs >> at&t/time warner primarily a domestic united states deal. you referenced our parent company, comcast n a figin a fit disney over fox assets that would be a truly global deal, would it not you have sky in the uk, star in india. that would be a global media merger >> it would. don't forget comcast has already bid for sky separately so, fox has a deal -- this is where it gets complicated. fox has a deal to buy sky or had an offer on the table in the uk, it was going through the regulatory process in london comcast is trying to buy all of sky. comcast separately trying to get its hands on the fox assets, which include the stake in sky,

star in india and other businesses that's a global deal on the but there are domestic deals, too. domestic u.s. players like cbs and others who wouldn't mind being a part of stribution entis them global scale and reach, because that's the game now these companies are playing. >> we don't know the ultimate end game for those fox assets, but we know it seems like the ultimate winner is the murdoch family >> they can't lose they have this terrific offer from disney. i k $66 billion including debt comcast says it will come in with a better offer. fox has a stake in sky 100% of sky would be sold to disney comcast trying to trump disney on that score well. timed to perfectio rupert murdoch and his mily they can't lose here they have a fight over the crown

jewels, and then the plan for new fox, with fox news and the broadcast network in the u.s. and possibly merge that back with the murdoch newspaper group, news corp so theily is sitting high, and evyone wants a piece of the assets. >> the headline is the judge approved the deal, but the subheadline is there were no conditions there were numerous expectations that the deal would be approved with a number of conditions, so many conditions that the deal would look unattractive. not the case at all. the judge in new york said deal approved with no conditions. that in itself is a major piece of news. thi your reporter said stunning rebuke of the trump administration so, the consensus for decades has been vertical mergers were okay, possibly with some conditions the trump administration tried to toss that out saying this is not right.

we won't do this the underlying reason, we reported this and others did, nose to cnn antime warner rati because they've been unhappy with cnn's coverage of the administration that was never said explicitly but clearly in the background. so they launched this expensive legal process to get this deal blocked. the judge throws it ouwithout conditions it is a bloodye for donald trump, a day after his big victory -- the day of his big victory in north korea with those talks. it's an interesting moment you wonder how active the administration will be with other mergers going forward now that this new benchmark has been set. >> matthew, thank you for laying out a complicatescenario and playing terms. appreciate it. it is expected that comcast could announce a bid for those fox assets, an all-cash bid sometime today, even within the

next couple of hours in a few minutes on this program, we have laura martin, one of the top media analysts out there to talk about what stocks, what companies may be l whole dealmaking landscape has changed. seattle's city council handed a win back to amazon. contessa brewer has more on this story. >> brian, seattle's city council voted to repeal a controversial tax hike on businesses that operate there. it's known as the head tax, and it could have resulted to a yearly fine of $275 per full-time employee the new tax measure was passed less than a month ago in an effort to fix seattle's growing homeless problem and affordable housing crisis the city says it would have raised $48 million annually, bu the new law was met with huge blow back. amazon and starbucks were

involved in this campaign to repeal the law a statement calling it the right decision for the region's economic prosperity. brian, remember, this would have cost amazon somewhere in the neighborhood of $12 min a year for its 45,000 local employees in seattle the question is will oer cities that saw what seattle was doing follow suit orl they consider this a big warning shot across the bow an say maybe it's not the right choice if you want companies to locate there and offer up jobs. >> time will tell on that. we'lsee you in a few minutes thank you. toyota is investing $1 billion in southeast asia ride hailing firm grab. this is part of the company's latest round of fund-raising sources say grab's valuation is more than $10 billion with that toyota investment. it's going to be a tough day for shareholders in h & r block.

that stock down as much as 20% revenue and margin guidance falling well short of analyst estimates, despite a jump in the number of returns it filed. and johnson & johnson has to sell its life scan unit to platinum equity for over 2 billion. life scan makes blood glucose monitoring devices used by more than 20 million people. we are getting started on a busy wednesday morning on deck, why one of china's biggest tech companies is taking a hit this morning. and later on, the federal reserve and you. how everything from your mortgage to your car payment to your bank account may be impacted by the fed decision on rates. we'll help you navigate throh ug it all as "worldwide exchange" returns. ou want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $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 ou nee looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest on you mighyour joints...ng for your heart... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevags now the number one selling brain-health supplement in drug stores nationwide. prevagen. the name to remember.

welcome back here's how your money and investments are setting up stock futures not giving us a lot of help. flat to slightly higher. we're waiting on the federal reserve rate decision today at 2:00 p.m. today and the european central bank tomorrow morning. next week may be the biggest opec oil meeting in years. something important to watch that's developed over the last couple of hours is that saudi-led forces began an assault on a port city in yemen. this is a growing escalation between saudi arabia and the shia rebels in that country.

not a lot of details are known sticking with oil, enjoy the gains while you can. that's the macro message this morning from the international energy agency. the iea putting out its monthly oil outlook and they expect the recent spike in prices to ease up the group also sticking with its current demand forecast for next year they did caution things like a trade war, economic slowdown could present downside risks they may not have factored in that breaking news that we just talked about, which is, as you saw me gesticulating wildly, the story we just gave you we'll bring you more on that saudi story in a bit shares of zte deep in the red after resuming trading in hong kong. eunice yoon has more >> reporter: thank you very much zte shares dropped 40% today in hong kong wiping $3 billion off the company's market value investors were punishing the stock because they're worried

about the hefty financial penalties that the company will have to pay as part of a deal to get the u.s. commerce department to lift a ban blocking the company from buying american components zte has been penalized because it violated sanctions by illegally selling equipment to both iran and north korea and later breaching the settlement the trump administration offered zte a reprieve analysts, though, are not impressed. they are quite worried about the size of the fines. under the deal, zte will have pay $1 billion in penalties, 400 million in escrow and it already paid 9$900 million lasd that equaled to moran three years of zte's profits so investors are also worried about how the company will be able to recover the business

when there's just so much uncertainty around it. first of all, under the deal, all the management needs to change within 30 days. the u.s. said compliance officers will have to be led in to observe the operations. finally congress looks as though it could actually block this deal the commerce secretary, wilbur ross, he's supposed to be in congress trying to sell the idea, a lot of fund managers here are not very optimistic, especially with the strained relationship now between the u.s. and china we'll get a test as to where that relationship stands when on friday the u.s. publishes its list of goods. $50 billion worth that could face tariffs >> eunice yoon, thank you very much still to come, the north korea factor what is next after the president's historic summit overseas and trendi today, do you have trouble sleeping? there's an app for that, and a crucial update of the

minneapolis raccoon that has captured america's attention we're back after this.

♪ ♪ my ambition is to show my kids the world. ♪ ♪ the one in three dimensions. so they can look up and see the placey live. ♪ ♪ and prove that the real world beats a post. ♪ ♪ ambitions live everywhere. synchrony helps make them happen with customized rewards and financing available at over 350,000 locations. synchrony. what are you wor forward to? jimmy's gotten used to his whole yup, he's gone noseblind. ors. he thinks it smells fine, but his mom smells this... luckily for all your hard-to-wash fabrics... ...there's febreze fabric refresher. febreze doesn't just mask, it eliminates odors you've... ...gone noseblind to. and try febreze unstopables for fabric. with up to twice the fresh scent power, you'll want to try it... ...again and again and maybe just one more time.

indulge in irresisble freshness. febreze unstopables. breathe happy. welcome back 5:20 in the east stock futures up a couple of points they're not down there's an upside. the dow futures up 1 point it's better than being down 1 point. let's check the overnight trade

in asia, coming off the back of that historic north korea summit markets not reacting much. japan is up. hong kong down 1% now. more red on the screen than green. president trump is now making his way back after that sitdown with kim jong-un. the question is now what comes next tracie pottss live in d.c. with more on that. >> good morning. what's next is the big question here in washington with lawmakers scratching their heads about how this deamight work washington's breathing a sigh of relief after president trump's meeting with north korean leader kim jong-un. >> certainly dialogue is far better than threatening nuclear annihilation with each other over twitter. >> reporter: but democrats and republicans are skeptical about what's next. >> it's noan agreement that can beorced.

>> we have to be clear-eyed about what a diplomatic success looks like complete verifiable irreversible denuclearization. >> reporter: the trump administration sales pitch to es starts today. secretary of state mike pompeo already on the phone with south korea and japan heads to seoul today to brief them face-to-face >> south korea will be involved very much in helping, and japan will be involved terrific on the border. s been >> reporter: china is a wildcard, so is kim. >> he will try to extend timelines, get more concessions out of the united states. >> rep like reducing u.s. troop. president trump says eventually he would like to bring them all home that is a security concern, especially after president unannounced and told the world that he would be ending military drills with south korea,

unannounced to south korea in advance. the south koreans saying tt may be necessary for negotiations to continue >> tracie potts, thank you let's bring in lisa collins with the korea chair at the center for strategic and international studies. thank you for joining us what do you believe is next for the u.s. and north korea >> i think following up with this, there will be continuing talks between north korea and the united states. hopefully there will be more clarity on what the two countries mean by denuclearization of the korean peninsula. there's been a lot of commentary already about how the four points in the joint statement sterday we lt light on details, particularly thard to any verification process that would be necessary for north korea to dismantle its nuclear weapons program. i think first and foremost the united states should ask for a list, a declaration from north korea that lists all of its

nuclear its nuclear weapons facilities, the technology, the scientists volved, also any ballistic iles and launch vehicles that are a part of the program i think there's a lot to be covered in the next few months and then trump has said that he may invite the north korean leader to come to e united states in the fall we'll be on the lookout for that as well. >> north korea historically has been very good about promising things, not so good about carrying through on those do i believey will ultimately do anything that they may have agreed to >> that's very good question i tend to be more pessimistic than some others i think that kim jong-un is different from his father and his grandfather. we'll have to see how much he wants this i think the upcoming talks will determine to a great extent how much kim jong-un has been affected by his summit with trump and whether or not he really is pushing for change now at this moment

>> he s educated in switzerland. it's obvious he does speak english. do you think he ultimately would like to be more closely associated with the west >> i don't know if he wants to be associated with the west, but he wants to be a more modern leader diplomacy he's been doing withic countries like china and south korea. he's trying to project a different image for himself and his country. he doesn't want to be known as a leader of a pariah state that's backward in its economy and its social system. i think he's trying to change that image and whether or not he thinks that can be done through negotiations with the united ates and by getting rid of his nuclear weapons program piece by piece we'll have to see. i find it hard to believe they will give up a whole chunk of concessions at the beginning of the talks. that's something the north koreans have not done in the

past >> lisa collins, pleasure getting your insight this morning. thank you. coming up, how you may be able to profit from the landmark at&t/time warner deal. the media winners and losers. the fed expected to raise interest rates again today is the fed quietly the biggest single risk to this market and your money we'll dig into that as "worldwide exchange" rolls on.. and it's also a story about people. people who rely on us every day to dir dreams they're handing us more than mail they're handing us their business and while we make more e-commerce deliveries to homes than anyone else in the country, we never forget... that your business is our bess the united states postal service. priority: you ♪ (birds tweeting) this is not a cloud. this is a tomato tracked from farm to table on a blockchain, helping keep shoppers safe.

this is a financial transaction secure from hacks and threats others can't see. this is a skyscraper whose elevators use iot data and ai to help thousands get to work safely and efficiently. this is not the cloud you know. this is the ibm cloud. e ibm cloud is the cloud for smarter business. ♪ ♪

here is your big morning reset. at&t getting the green light to buy timer.we havyour likely winn losers of a coming media merger boom with an l.a. insider. the countdown to the federal reserve meeting is on. will this set the tone for a more hawkish fed ahead. and pizza and potholes what one restaurant chain is doing to fix america's crumbling infrastructure the details as "worldwide exchange" rolls on ♪ all right. welcome back thank you for being with us on cnbc i'm brian sullivan so glad you could join us. let's check on what's leading your money news. the international energy agency putting out its monthly oi outlook. they expect the spike in prices to ease a bit.

the iea sticking with its current demand forecast for next year but cautioned things like a trade war or economic slowdown could present downside risk. shares of zte falling. the shares resuming trading there after zted a deal with the u.s. to pay a $1 billion fine and replace its board after it violated sanctions. and guess co-founder paul marciano resigning as executive chairman of the clothing firm following an internal vision what showed poor judgment in situation involving models and photographers. guests and marciano resolving those claims but will be leaving the company in full next year. we are halfway through the 5:00 a.m. hour

stocks are basically flat. we have the federal reserve decision at 2:00 eastern time today. then we have the european central bank decision less than 24 hours later tomorrow morning. a lot that trader also eyeball overnight in asia, a mixed trade. the nikkei 225 in japan is up. most other marketsre in the red, led by the hang seng. overseas in europe, let's check those markets. we're seeing mostly in the green with spain down 0.2% oil is getting a shot in the knee from the iea, calling on price declines we'll see if that happens. remember, we have venezuela output which continues to drop we have that conflict tween saudi arabia and yemen happening. in the u.s. dollar market, it's at 1.1744. i would like to shout out our loyal morning viewers, all of

that was for you now the ng that will change the media landscape forever. a federal judge ruling in favor of at&t's $85 billion deal for time warner. that's likely to launch a formal bid by comcast for fox that offer could come as early as today or maybe even this morning. it sets the stage for a number of deals let's bring in laura martin. we are happy to have you on set, especially today following this. thank you. >> my pleasure >> how surprised are you, not only that the deal got green-lighted but that the judge said no strings. no conditions. >> i like the exclamation marks better that's the big egest surprise. the answer is in the last 18 months, brian, what's happened is that the budgets for facebook and apple and amazon have gone from $1 billion to try to compete with film and tv to $5

billion, $8 billion they have unlimited cash finally the right thing should happen here, at&t will b allowed to buy time warner that m your parent company will make a bid for fox. i think we'll get a bidding war for cbs and viacom all these firms must get bigger to compete with the amazons and apples of the world. >> there's a lot to unpack in that let's start with our parent company, widely reported to make that bid for fox could be as early as today do you think disney would come back with a higher offer or would comcast win control of those fox assets >> i think disney will decide not to outbid comcast, and i don't think brian robert, who runs comcast, would be a loser here the big winner would be the shareholders and the mur going

f murdoch family i expect disney to then make a bid for viacom, discovery scripps, by i don't think they'll get into a bidding war with comcast >> shares of fox up 7% >> well deserved >> the market expects our company to come in with that long-rumored all-cash offer. you mentioned viacom this is important. you did not mention cbs because legally disney cannot buy cbs. >> that's right. against the law. >> they own abc, so they cannot own cbs or abc legally >> but maybe they'll do something global your show is a global show >> they're buying "worldwide exchange"? >> i like it >> viacom. if you had to put a percentage chance on it, wh is the percentage chance that disney makes a bid for viacom, which is

going through a crazy war between the board and the cbs. >> we should do a movie and a book >> maybe viacom could produce a movie abouitself and the problems it has with itself. did anybody follow that? do you think disney would make an offer for viacom. >> it has to figure out it will lose the bidding war then disney has to figure out it will lose, then figure out what to do next, because it told you it thinks it needs to get larger and then look around for assets. so it either has to try to buy discovery scripps, and that's not going to be a cheap price tag. then viacom and shari redstone have a problem, if cbs and viacom don't emergency -- i think amazon is the best buyer for cbs. >> you think amazon could buy cbs? >> i do. >> i thought they wanted to be

more asset light, ott, you hear a lot about that, over the top, not owning that basic -- i hate to use the term old school table asset. >> i think les moonves and liz programming team, the number one rated network for the last two decades, i think those are awesome assets for a large internet company with tens of billions of dollars of free cash flow a year to own >> could there be a shocker? could an apple bid for cbs >> yes >> the whole field is wide open now. we're going into the kentucky derby effectively and every horse has the same odds. >> not every horse is secretariat, every horse is a triple crown winner. i love it. the media landscape needs to consolidate. they are too small talk about market caps round numbers, 20 billion, 30 billion market caps. apple is $1 trillion. these are huge market caps they can write a check for these

companies. >> why would they want them? they just need content he big competitive framework changing in thinternet space, they all have traffibut not engagement lengths what drives that is great content like you have. so cbs has great con viacom has increasingly great content. walt disney company has great content. that's what these internet companies need they need to turn that traffic they're getting into longer engagement times hour long, two hours long. >> charter, you think they could be a winner here >> i do. >> do they get bought or are they buyers? >> i think they're buyers. >> they got bigger >> they got bigger, too. >> great time to be a media analyst and media banker >> fair enough, but i'm a media analyst and i love my job every single day >> you're the best thank you very much. i have a feeling we'll hear from

you soon >> okay. you're looking at a live shot from joint base andrew's where the president is landing, returning home from his singapore trip air force one just touching down the president expected to deplane at any moment. we'll monitor this in case the president comes out and makes impromptu comments if he brings you any comments, we'll bring them to you. the federal reserve expected to raise interest rates yet again. wall street pointing to a flat to slightly lower open this morning. talley joins us this morning ur heard o you heard our spirited discussion on media. do you want to throw a bunch of money in the media landscape >> despite the excitement about m&a and media, it belongs to the

broader consumer discretionary sector, i'm not sure how much the macro data can impron favor of the consumer. >> it's pretty perfect now, isn't it >> it's priced in, the valuations for tt sector are elevated >> too elevated? >> perhaps >> we saw a few days ago how many retail stocks are up 30%, 40% in a month >> there you go. with the later stage economic cyclicals if you have not rotated away from the early cycle cyclicals, it's about time you did so >> as scott minert likes to say, bull markets are not broken to h,y ken ou and shot in the head do you think the federal reserve will kneecap this rally? >> raising interest rates is not new. >> and not a bad thing

>> no, the offset is powerful earnings you have to admit the same force of rising interest rates is also pressuring multiples again, two counter veili counteg forces >> all the dow did in 1995 was jump 35% markets can go higher ing rate environments, can they not? >> absolutely. you can see solid equity returns late in the cycle but i prefer to look elsewhere. >> such as what? if we believe the u.s. rally which is in its ninth year effectively, coming off that horrible bottom, if it is long in the tooth, how do we make money now? >> i think you want to rotate to those markets and economies that are in earlier better stages of

their cycles, where valuations are more attractive and you have the opposite monetary policy back drop. >> such as what? >> europe is a great opportunity. bad news is good news for european stocks here and i think emerging markets will make a comeback >> could you buy the eem and let it ride? do you have to get more specific >> i think you have to be more selective so active over passive. focus on the stronger em countries from a macro ive. >> talley, great stuff there we'll see you soon appreciate it. we have two huge interviews coming up today on cnb first, british prime minister theresa may sitting down with our colleague, steve sedgwick. you can catch that interview this morning at 11:00 a.m. eastern time. and bank of amera's brian moynihan sitting down today at

4:00 p.m. on "closing bell." still ahead here, potholes and what restaurant chain is doing to fix america infrastructure. and later on, the future of investing. new data on where millennials want to put their money. if youe a stock fund manager, you will want to hear this one te y 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. ♪ what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? what'sthe value of tcapital is to create, not just wealth, but things that matter. morgan stanley no matter how much you clean, does your house still smell stuffy? that's because your home is filled with soft surfaces that trap odors and release them back into the room. so, try febreze fabric refresher.

febreze finds odors trapped in fabrics and cleans them away as it dries. use febreze every time you tidy up to keep your whole house smelling fresh air clean. fabric refresher even works for clothes you want to wear another day. make febreze part of your clean routine for whole home freshness. we see the president, a live

lo at joint base andrews getting into the presidential motorcade, just coming off the plane. a rare tireless look for president trump. the man sleeps in a tie, we think. a long trip. long way long flight. the president landing from singapore and ready to return to the white house. time for the top trending stories. contessa brewer is back now with those. this is a big story from minneapolis. if you're going into an executive meeting this morning, this is the story you want to know, front, back, forwards, backwards. >> up. >> up and down because are you ready for this this can inspire youam to great heights. i'm certain of it. the internet is transfixed by a raccoon that was stuck on the ubs building in st. paul minnesota. a raccoon, you say come on. here is the view from someone's

office window. imagine you see this on a high rise and you can't open the window he can't go down the only way he can go is sideways and then up he got stranded on a window ledge high above the ground. the office workers are recounting his progress as he is climbing the building. finally the fire department saying we can't help this raccoon. we can't risk a human being for a raccoon. he has to make it to the roof where we have a live trap and food >> you can't go, hey, sweet raccoon. the raccoon will chew your face off. >> no. >> probably is rabid razor sharp claws. the thing is t honey badger office buildings >> a rabid raccoon cannot think -- you can see the raccoon trying to judge how do i get to the top? when you go to your meeting this morning -- >> you think that's what he was

thinking hmm. >> you can watch him or her. probably a female actual >> the windows in the building do not open. >> >> the windows do not open >> it's stressful to watch this raccoon. >> chilling, sun bathing >> now they caught it, what now? let ito. be free. >> maybe it could be someone's bet. for sure a great climber >> a raccoon is a skunk that doesn't stink. >> bob ross, the painter with the soothing voice on pbs, his estate partnered with calm, an official app that uses snippets from the artist's show to help listeners dose off calm plans to offer two morros sleep stories with the possibility of whole series. i love it. maybe put a tree here. look at the tree see the tree

next time your car hits a monster pothole call dominos as part of a ping fopizza initiative, dominos launched a website to take nominations for towns that need help to fill potholes they're doing this thing if your pizza gets damaged, we'll get you a new one. already they filled some potholes the ceo said we don't want t lose great tasting pizza to a pothole ruining a wonderful meal they are not saying how much they are looking to spend for these grants >> the private market has taken over fill it with pepperoni appreciate it. that raccoon -- still to come, millennials and money. a startling stat about what the kids wanted s want to invest i days. and we're counting down to the fed decision we'll let you know wt hayou need to be watching and why you care.

why did i want a crest 3d white smile?

dinner date...meeting his parents dinner date. so i used crest. crest 3d white removes... ...95% of surface stains in just 3 days... ...for a whiter smile... crest. healtsmiles for life.

let's go now to joe kernen we have this at&t/time warner deal comcast may be making a bid for fox. you have the fed i want to ask you this, would you take tiger woods against the field at shinnecock? >> are you kidding me? >> tiger is back >> tiger is back he is. he's the best ever, but he was the best ever before, you know, you had dustin johnson and justin thomas, jason day >> give us a dark horse. >> dustin johnson, everybody expects him to win >> anybody could run >> there's a lot of justin justin rose is always great. koepka last year, when he won. >> i think john vandeweld will

win. >> i played that course and well shot 59 on that course to make the cut at the dunhill you remember what course that was? carnasti i'll tell you what has me thinking today i don't wanto cry. have we got a system in this country or what? we have the greatest guys figuring out how to do things. the government tries to block this thing it's like a huge devastating loss with no gray area a court and judge says you're nuts let the games begin. you have facebook, amazon, old media guys just tryingo keep their head afloat. i figure in europe or something, where they don't have their

competitive act together in terms of letting cpanies go, it might not have happened that way. they would have said no, this consumer that. over here, we have a vibrant dynamic company. this is why it works, a judge can tell trump and the doj -- who knows who is behind that it seems like the right decision gets made somehow. i guess we do everything the wrong way and then finally the right way. in this case, the floodgates are open i'm moving on. we have to see what comcast might do >> we might get that breaking news during "squawk box. >> being a comcast employee, i don't want to be a homer, i will enjoy making life hell for disney, if we can. >> you got to have a hobby golf and making life hell for

disney >> they thought they would waltz in that's not going to happen they either have to pay a lot more or won't get it david faber, is he here already? >> right there what do you think? the courts can definitively decide the doj is out of line here >> yeah. >> he's not mic'd up >> you doesn't need to get mic'd up >> you have a lot of work today. >> all right >> fed today, ecb tomorrow, how much should you care about either let's bring in bruce kn from jpmorgan chase what's more important, the fed or ecb >> i think the ecb just because the ecb will be more likely to change course here in terms of qe program by the end of thets year that wasn't expected a couple

weeks ago. the fed is on track for tightening there's drama will whether they will signal a fourth rate hike close call we think it's likely we they regardless they'll be moving twice in the next year. >> does that scuttle our rally everything is kind of firing on all cylinders. >> i think the fed is responding to a good economic environment it's not moving in a way that is likely to slow it. i don't see a problem in terms of what the fed is doing here. what does that mean for the economy? can we get 4% growth still for the second half of this year >> 4 is a stretch, but something with a 3 in front of it s reasonable now given the momentum and stimulus that is in

place. we need to be helped bay global i think the prospects for the t. second half of the year look good >> ending the show on optimism bruce, a pleasure to get your views. thyou very much. all right. time for your morning rbi. charles schwab is out with a new study about millennials and investing. the data shows that the investment vehicle of choice for 91% of millennial investors going forward will be the etf. now, millennials say that about 40% of their portfolios are currently in etfs. 56say they already replaced all their individual stocks in their portfolios with etfs but going forward, 91% suggest that will be their investment vehicle of choice. if you are blacke vang vanguard, a provider of etfs,

that's music to your ears. if you like individualcknot so . see you tomorrow "squawk box" is next

a monumental decision. a judge approving the at&t takeover of time warner. what's next? comcast reportedly ready to challenge disney in that bid for fox. it's decision day for the fed. a policy announcement and a news conference by jay powell just hours away it's wednesday, june 13, 2018. finally warm quawk box" begins right now. ♪

live from new york where business never sleeps, this is "squawk box. good morning welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. yesterday the markets ended mixed, jusbarely dow down about a point and a half this morning some modest advances dow futures indicated up by 18 points s&p up by 2. nasdaq up by 9 let's take a quick look at treasury yields. yesterday you saw the yield on the ten-year treasury unchanged at 2.959%. this morning 2.957%. a judge approving at&t's comcast expected to be biddingr. for fox, 21 century fox's assets as early as today.