joining me now to discuss all of this is heather mcgee co-host of "squawk box" andrew ross sorkin, andvered this so brilliantly and exhaustively. this piece seems to fly in the face of the whole sort of like states rights thing that conservatives have been pushing for quite a while now. how bad do you think it could be if the court rules that it should be based on -- that our district should be based on eligible voting citizens? >> it could be really bad. you're in a situation where the congress is already older, whiter, and more conservative in the country as a whole. it's going to get a lot more older, whiter and more conservative in the country as a whole if this goes through. what you're seeing is a radical development in the field of voting rights. first the supreme court gutted the voting rights act. now going after one person, one vote. this is something that was settled for over 50 years and suddenly we're retreating so far back. first the voting rights act. now you undo one person one vote. where does it end? it's really troubling that the court even decided the hear this case

good to have you here and we have our own andrew ross sorkin standing by live at 30 rock in midtown. ew wrote the seminal book on the crisis, "too big to fail." later turned into an hbo film. i would like to get your thoughts, first, first time since the crisis we hear from fuld. what's in your mind today as this event is going to take place? >> i'd love, we've all been waiting to hear from him in the most candid moment that he could. we heard from him briefly after the crisis, but they were in hearings and he had to hold his tongue. he had particular views with what happened to him personally and what happened to lehman brothers. views about the government putting him under. as opposed to him putting himself under and i would be very interested to see how defiant he is. what he thinks of the way history has been written. i imagine he may comment on that and how much he's going to comment on lehman brothers as opposed to try to look towards the future. i'm unsure if this is the beginning of a comeback story that he's trying to create. he's getting into the real estate business now. an

i'm becky quick, along with joe kernen and andrew ross sorkin.re starting today with taylor swift takes away awards in top artist, top female artist and top billboard album and it's all about her bad blood video. it debuted last night's shows. it includes everyone from selena gomez and cindy crawford. take a look as what's been happening at u.s. equity futures this hour. you can see things have barely budged. dow futures down by 6 half a points below fair value. the s&p 500 closed another record high on friday. nasdaq down by 9.5. >>> one economic data point of note, the national association of home builders will release its housing market index for may. that's due at 10:00 eastern time this morning. a little bit of news out of chicago, charlie evans, he says the feds should aim to boost inflation by keeping interest rates near zero until early next year. evans is a voting member of the fomc and argues inflation has been running too low for too long. >> we just had him on. >> yeah. >> yeah. exactly. that's not new, is it? they have got the dual m

but not andrew ross sorkin. she was here -- >> wow.ere last week and i just remember someone saying definitely. >> i'm not sure. >> it wasn't insulting. >> he just called me his wife i don't know how i feel about that. >> because we're together a lot. >> a bromance. >> the first school of thought is that the fed cannot lift rates until there is an unambiguous acceleration of the u.s. data. that could cause a wobble to the equity market. in 1999 when the fed hiked interest rates in june equity market was down three and a half months later. the other school of thought is this kind of weakness you had in the first quarter continues. even though it came off of overy strong data at the end of 2014 it continues. the fed can't hike. eps revisions come down risk assets get dragged down with it. those are the two schools of thought that are really in the financial markets at this point. at credit suisse we feel there is a better chance that the fed does hike in september. we do have some positive data. nonretail sales and you see bank lending i

i'm becky quick with joe kernen and andrew ross sorkin.ttention scrabble lovers they're adding new words and updates today. among the latest entries is dark web. that's the portion of the internet hidden from search engines and plenty of political words including slacktivism, actions taken to bring about political or social change but requiring only minimal commitment effort or risk. >> dictionary.com is not even a real dictionary. >> it is. that's what i use all the time. >> do you? >> i do. >> also a nod to apple, smart watch being added to the dictionary.com data base. to the markets at this hour the futures are looking better than yesterday yesterday. there's green arrows across the board. s&p futures are up by 6.5. yesterday the dow fell by 142 points dropping back below 18,000. s&p down by 25 points yesterday but things are looking better. nasdaq also up by 7.5 points. >> let's talk about the big stories we're also watching this morning. jobs the april adp employment report, the major focus for the market will be released at 8:15 eas

i'm becky quick with joe kernen and andrew ross sorkin. texas and oklahoma are two of the hardest hit states. yesterday was the wettest day in the history of austin and houston. dozens of high water rescues. 8 people have been declared dead and 12 people are missing in connection to storms from texas to oklahoma. more than 30 million americans are told to brace for more dangerous thunderstorms which could bring additional flooding hail and possible tornadoes. right now let's get to the markets. u.s. equity futures this morning, look at this point, like they're a little bit underwater. dow futures down by 42 points. s&p futures off by 6.5 and nasdaq down by about 20. >> let's get to the other story of the morning. >> charter communications buying time warner cable for $195 in share in cash and stock. that deal is about $55 billion. they rejected charter last year instead going for the comcast transaction. today's news comes after months of speculation and after contrast dropped it's $45.2 billion merger agreement over antitrust concerns. th

i'm becky quick with joe kernen and andrew ross sorkin.ay-z striking the nerve of one business saying water is free while promoting his music streaming service. now denver water is publishing a open letter explaining the economics of water. first let's get to the market business of this morning and take a look at what's been happening with u.s. equity futures. the market was down. declines of about 1%. this morning futures up about 55 points above fair value. s&p futures up about 5.5 and the nasdaq up by 14. this comes after the dow dropped triple digits yesterday lead lower by apple. the tech giant accounting for 10% of the move down in the blue chip index and joe you were right. >> not yet. >> as it goes. >> so goes apple, so goes the market, right? >> not just that but made very little headway since it was put into the dow. the dow made little headway and apple made little headway. they're joined at the hip at this point. our fortunes are tied with tim cook. hopefully he knows what he's doing there. my point to you that you sneered at a

we're joined by andrew ross sorkin, kate kelly and mandy to discuss a little more about his remarks. ew, that was fuld as economic geopolitical commentator. does he have credibility to do that? >> that's a good question. i thought he was thoughtful in everything he said. i don't think he said anything that was particularly necessarily new, but he framed it up and it was articulate about those issues. i think that most people who are watching our air today are watching or were watching in hopes that they were going to hear more from him specifically on lehman brothers the failure of lehman brothers and how he thought about his role and the government, et cetera. he seemed to hint at it. kate will be able to speak to that better than i can because we missed a little bit of that in between in terms of the video. but, you know he clearly at 69 years old is trying to move on. he seems to be doing it. >> yeah he said so much i want to say on lehman sort of dot dot dot. we were kind of left hanging there a little bit kate. what more do you think we wanted to hear? what do we need to hear? >>

andrew ross sorkin asks the question, is there something inherent to wall street that leads to bad behaviorchallenged the view that risk takers are drawn to finance like they are drawn to formula one racing. but there is truth to that sorkin argues. wall street is a business of risk takers and those who do it successfully find that edge of the line and get as close to it as possible without crossing it. i don't know that that's an excuse, but does that inform the bad behavior? >>. >> you ask why do people go to wall street. it isn't like medicine, where your underlying goal is to save lives. why do you go into wall street and become a trader? to make money. the underlying goal is creating money out of sometimes nothing. creating money out of real estate transaction. their whole goal is to enrich themselves as fast as possible to the maximum extent possible and to then do it again and again and again. sometimes they do that at the expense of the people they're supposed to be making the money for. >> what happens? the punishment is in penalty. jp morgan paid $13 billion in november of 2013. i

i'm joe kernen along with andrew ross sorkin and becky quick joins us.ecky and warren in a minute. >>> it is jobs week in america. the private payroll report coming out on monday and the government's pay roll data due. mcdonald's expected to outline its latest turn around plan under its new ceo. its u.s. menu got too complicated and hurt operations. same-store sales have fallen for two straight years and comcast out with quarterly results this morning. earnings of 79 cents per share and beat estimates at 74 cents and revenues also beat expectations and $2.5 billion increase in its share buy back program. look at u.s. equities program this hour. dow looking higher about 46 points higher and nasdaq up 2.5 points and the s&p 500 close to about five points up right about now. >>> let's get back out to becky in omaha. becky, good morning, again. >> joe, thank you. you know, again, i'm in omaha with warren buffett who is the chairman of berkshire hathaway. warren, a lot of the questions that i heard that were asked by other media, that were asked by other shar

i'm becky quick with joe kernen and andrew ross sorkin.ur guest host today has a new book out today about america's role in the world. we do have a lot to talk to him about in a few minutes. thank you for being here. a developing story out of california today. environmental clean up crews responding to an oil spill in santa barbara county. coating rocks and sand along a portion of the beach. officials say about 21,000 gallons of crude oil left an oil slick about four miles wide. that came from a ruptured pipeline on shore and hasn't stopped at this point. crews are trying to contain the mess. right now let's get to the market business of the morning. you can see this morning the futures are missed. up by 5.5 and nasdaq down by 0.5. >> they say the country will not be able to make an imf payment due without it's international lenders. the euro hitting a two week low on renewed concerns about athen's debt and in corporate news the justice department expected to announce a settlement with five of the world's biggest banks. they're accused of

i'm andrew ross-sorkin. our top story a global global market ral ey.soar oing more than 3% overnight and the biggest one-day gain there in four months and european shares are up sharply. hinted that the central bank could be ready to front load its current quantitative easing program and that could mean a more aggressive, nearterm schedule for asset purchases. the euro dropping sharply overnight. >> going a lot of places. >> going a lot of places. >> cheaper for you. you don't want to tell them. >> no. >> you've seen what happens. >> you don't want to get mobbed over there. very difficult. >> piece of clothing, you know. >> take a look at the german bund. you going to been germany? identify what countries you're going to be in. give a look at u.s. equity futures. looking better after a big day yesterday. dow looks like it will open up 15 points higher and the s&p 500 up about six points. some other stories we're following today, as well. >>> home depot reported 1.16 per share and that was one cent above estimates. comparable store sales rose 6.1% that

i'm sitting in for becky quick, joe kernen and andrew ross sorkin, they are here.et's get you up to speed on the markets. we're going to have a negative open at this point. dow would open lower by 95 points. s&p 500 lower by nearly 11 and nasdaq lower by 24 points as we continue to wonder about what is happening in the bond market. this huge move and rise of government yields around the world where everybody assumed they were staying low for so long and it's just upset all kinds of things. >> it occurs to me that we didn't know how good we had it. our rates were kept low by a weakness in the european economy but we were having this great year in 2015. we had the best of both worlds. rates will stay low. >> yet the economy was growing. >> we were doing great. now we get a .2% read and europe is doing better so their rates are going up based on what they're doing. >> so do ours. >> ours go up so we go from 17-on-the ten year to a 2.3 and all these numbers are so low. they cracked me up with germany. 75 basis points. oh my god it's 75 basis points. >> but they have be

. >> your moment has been brought to you by andrew ross, sorkin. >>> we were talking about how chocolateng to be too hard to find because demand was surging. they were running out of enough supplies of it. well, the other story has come through. i think prices the futures spiked in september. they were at three and a half year highs. since then they have spiked. prices had been skyrocketing and as a result that cuts down the demand. what we saw over the week is the amount of cocoa ground by asian processors down this year. i think it shows you that every time we worry we're going to run out of something, the argument is, we find the other side of it because high prices cure demand. >> well, right. >> in basic economics, one of those one there will be wrong. i'm more worried about bowling than chocolate. tell you that much. chocolate is not going anywhere. >> i'm not really worried about it i guess, but i'm not worried about bowling either. >> if you worry about golf you should really worry -- >> i'm not worried about golf either. >> do you own your own ball? >> no. >> no. >> no never hav

i'm becky quick along with joe kernen and andrew ross sorkin.eek. the dow futures are indicated higher, not by a lot. up by 17 points. and s&p futures are up by 1 point and the nasdaq is epiabyeup by about six. you can see the dax is the biggest loser. and the ftse is up close to 0.6. let's look at what is happening with the ten-year. the yield is looking at 2.271% and finally oil prices as we get into the memorial day weekend. energy prices had been higher and oil back above $60 a barrel. right now down by 64 cents. >>> here are some of the stories that investors will be talking about today. fed chair janet yellen set to give a speech on the economy at 1:00 eastern this afternoon. her comments come after minutes earlier this week suggested that the first rate hike has been pushed out to later this year at the earliest. >>> mario droggy speakingaghi arguing that easy financing should not stop reform. draghi cautioning that future growth will remain modest. >>> bank of japan keeping stimulus unchanged as expected. the bank of japan also slightly

i'm becky quick with joe kernen and andrew ross sorkin. a large tornado touching down in the texas panhandle hitting a drilling rig. there was extensive damage and at least three injuries reported. flooding still a huge concern in texas as many rivers are above flood stage. thousands of homes have been damaged. the death toll is climbing and the search for the missing is growing. more residents are being asked to evacuate today and the rivers aren't expected to crest for another 36 hours. now to the market news of the morning, a big sell off in china overnight. the shanghai composite closing down 6.5% breaking an 8 session winning streak. catalyst seems to be more news that chinese brokerages have tighter marginal rules raising concerns about regulators having other things up their sleeves. things to slow down the massive growth we've seen over the last year. we'll have a live report in a moment. in the meantime if you're watching the u.s. equity futures markets were higher yesterday. there is a slight pull back this morning. dow futures d

andrew ross sorkin wrote a piece.third of the people that say they contend they have witnessed or have first-hand knowledge of wrong doing in the work place. it's not a fact. it's stories we are hearing. it feeds into the notion it is so untamed and too big to fail exists more than ever it's thriving no? >> there are plenty of issues you have to look at. as there been rule breaking? yes. have cultures been completely transformed? >> no. has sufficient criminal responsibility for criminal acts been apportioned? probably not. on the other hand institutions have much larger capital buffers than they did before. from the point of main street the risk 068 some sort of meltdown that takes main street down as well like we saw in 2008. i think most experts would say those risks have been substantially reduced. but is there too much bucket shop activity? yes are people doing irresponsible things? yes, i wrote a column this week about debt reduction for ukraine. here they are, the bullwork of a fight against russian aggression

i'm becky quick with joe kernen and andrew ross sorkin. last night a twister blew through a texas community and it was all caught on tape. take a look at pictures from wise county northwest of dallas. there was heavy thunderstorm activity. several tornadoes reported. the risk for severe weather across the middle of the country continues into this weekend and we'll have a live report from oklahoma a bit later this hour. that's where residents are dealing with the aftermath of tornadoes and flash flooding. before that let's take a look at the market. the u.s. equity futures shaping up to a positive day with the bulls if they stay for the early trends. s&p fauutures up by 3.5 and nasdaq up by 14. >> let's tell you the big stories we're watching this morning. the april employment report due at 8:30 eastern time. forecasters say the economy added 228,000 jobs last month. the unemployment rate is seen declining to 5.4% to a near 7 year low but of course there are lots of varying views on what this could all mean including some much higher estima

i'm becky quick with joe kernen and andrew ross sorkin.rabble lovers they're adding new words and updates today. among the latest entries is dark web. that's the portion of the internet hidden from search engines and plenty of political words including slacktivism, actions taken to bring about political or social change but requiring only minimal commitment effort or risk. >> dictionary.com is not even a real dictionary. >> it is. that's what i use all the time. >> do you? >> i do. >> also a nod to apple, smart

i'm becky quick with joe kernen and andrew ross sorkin.uest host today has a new book out today about america's role in the world. we do have a lot to talk to him about in a few minutes. thank you for being here. a developing story out of california today. environmental clean up crews responding to an oil spill in santa barbara county. coating rocks and sand along a portion of the beach. officials say about 21,000 gallons of crude oil left an oil slick about four miles wide. that came from a

i'm becky quick, along with joe kernen and andrew ross sorkin.tarting today with taylor swift takes away awards in top artist, top female artist and top billboard album and it's all about her bad blood video. it debuted last night's shows. it includes everyone from selena gomez and cindy crawford. take a look as what's been happening at u.s. equity futures this hour. you can

i'm becky quick with joe kernen and andrew ross sorkin. texas and oklahoma are two of the hardest hit states. yesterday was the wettest day in the history of austin and houston. dozens of high water rescues. 8 people have been declared dead and 12 people are missing in connection to storms from texas to oklahoma. more than 30 million americans are told to brace for more dangerous thunderstorms which could bring additional flooding hail and possible tornadoes. right now let's get to the markets. u.s. equity futures this morning, look at this point, like they're a little bit underwater. dow futures down by 42 points.

i'm becky quick with joe kernen and andrew ross sorkin. a large tornado touching down in the texas panhandle hitting a drilling rig. there was extensive damage and at least three injuries reported. flooding still a huge concern in texas as many rivers are above flood stage. thousands of homes have been damaged. the death toll is climbing and the search for the missing is growing. more residents are being asked to evacuate today and the rivers aren't expected to crest for another 36 hours. now to the market news of the morning, a big sell off in china overnight. the shanghai composite closing down 6.5%

i'm becky quick with joe kernen and andrew ross sorkin.ay-z striking the nerve of one business saying water is free while promoting his music streaming service. now denver water is publishing a open letter explaining the economics of water. first let's get to the market business of this morning and take a look at what's been happening with u.s. equity futures. the market was down. declines of about 1%. this morning futures up about 55 points above fair value. s&p futures up about 5.5 and the nasdaq up by 14. this comes after the dow dropped triple d

i'm becky quick with joe kernen and andrew ross sorkin. we're listening to the foo fighter.hey're reprising the song they played for the late night host when he returned after bypass surgery. he introduced foo fighters as my favorite band playing my favorite songs. let's get you up to speed on the markets. the futures this morning at least at this point look like we're barely budging at this point. nasdaq off by 14 and the s&p futures down by 4.5 points. this is all coming the day after the release of the fed minutes and yesterday over the last several days we have not seen very significant moves in the markets one direction or the other.

i'm becky quick with joe kernen and andrew ross sorkin.ght a twister blew through a texas community and it was all caught on tape. take a look at pictures from wise county northwest of dallas. there was heavy thunderstorm activity. several tornadoes reported. the risk for severe weather across the middle of the country continues into this weekend and we'll have a live report from oklahoma a bit later this hour. that's where residents are dealing with the aftermath of

i'm sitting in for becky quick, joe kernen and andrew ross sorkin, they are here.et's get you up to speed on the markets. we're going to have a negative open at this point. dow would open lower by 95 points. s&p 500 lower by nearly 11 and nasdaq lower by 24 points as we continue to wonder about what is happening in the bond market. this huge move and rise of government yields around the world where everybody assumed they were staying low for so long and it's just upset all

. >>> first in business worldwide i'm joe kernen along with andrew ross sorkin. u.s.were up and now they're down. not a whole lot of action. a lot of numbers coming this week and a lot of analysis. we're in another world. a stronger economy, a weaker economy? we will get a better indication on friday because it's already time, already time for the employment report, again, because it's may. may 5th. it's okay to do a tequila segment on cinco de mayo. >> you took one tiny sip. >> she said i made a face. >> if you haven't eaten anything. >> just a little coffee. >> coffee and tequila, breakfast of champions. >> this might be good. >> maybe you should drink every morning. >>> total return fund has lost its crown as the world's biggest bond mutual fund. the company announcing another $5.6 billion in withdrawals last month net outflows for the fund that brought its assets to $110.4 billion at the end of april. the new king in town vanguard's total index fund with 117 points as of the end of april. >>> chicago fed president charles evans says that rate hikes could begin thi

. >> are you familiar with a senator named chuck schumer or andrew ross sorkin?familiar with both. >> i'm told there are routes that are very close to monopolies at best al ollie gop plis. >> one of the criticisms out there, i don't know what the answer is to this, that multitop trips cost the same as nonstop and that that's a sign of collusion in the business. some west coasters, will you make a stop same cost as if you went direct. >> well, it's not as much about input costs as it is about what the contest ability of the marketplace is. and the market place is very contestable. if you bring up any internet site independent internet site consumers in the u.s. today have perfect transparency 24/7 to every single product on the shelf. and we have to price -- >> but if you can't get a gate and only a couple of airlines fly, then it can't be contested. >> virtually every market in the u.s. is contestable on a -- >> margins are zero return on equity was zero for 25 years. now you're making a lot of money. doesn't that by definition say these aren't being contested th

i'm andrew ross sorkin along with joe kernen. look at u.s.cause they are down this morning and down sharply. off 147 points. the dow, s&p 500 would open up about 18 points and nasdaq looks like it would open 80 points. overseas in europe news is not any better. you're looking at the dax over 8% and the cac off by 1.7%. and the ftse off by 1.75%. very big breaking news this morning. verizon announcing that it will buy aol for $50 per share or approximately $4.4 billion in cash. now, aol closed yesterday at 42.59 per share. the price represents a premium of about 17.4%. it will become a wholly owned subsidiary of verizon once the deal is completed. aol ceo tim armstrong and we'll hear from him here in just a moment. this is huge knews s news in the path of aol. started by steve case and then going part of time warner and being spun off again and now part of verizon. follows a trend, if ayou will of comcast buying nbc. this is about the pipes buying the content. and ott. putting verizon in a place where it can offer programming and programs and

i'm andrew ross sorkin along with joe kernen and becky quick.utures down 50 points and we're a little in the green. dow open up about 15 points higher and s&p 500 and the nasdaq up a little. 2.25 and now 2 points. there you have it. >>> top corporate stories at this hour. jpmorgan planning to lay off 5,000 employees over the next year. the bank is closing branches and slimming down operations. shares of altera this morning. intel is close to a deal to buy the chipmaker or about $15 billion. intel signed a so-called stand still aagreement earlier this year which expires on monday. after that intel can launch a hostile bid. >>> we're watching shares of gamestop today. better than expected earnings helped by strong sales of new releases. the stock getting a boost on that news. the company's cfo will join us at 7:40 eastern time. >>> in political news former house speaker dennis hastert has been indicted on bank-related charges that illinois republican is accused of structuring the withdrawal of $952,000 in cash in order to evade the requirement tha

and then look at the front page of business day, andrew ross sorkin who wrote too big to fail is talkingone in three say they see wrong doing going on at work all the time. too big to fail has gotten bigger. and is itç looks as if we've learned absolutely nothing from the mistakes of 2008. >> if you look at the bowels of the dodd-frank act, it did help further regulate an already really terrifically overregulated industry. the financial services industry. in one sense. the big banks are really overregulated. they're not overregulated, they're regulated. but andrew i haven't read his whole story, but hedge funds are largely unregulated. there are enormous amounts of money being made, some of it is a scam. no doubt about it. some of the hedge fund guys they don't pay taxes. they don't pay the same share of taxes that we do. >> they get breaks written in the tax code. >> but they're largely untouched by the dodd-frank regulations. which clearly applies to the big banks. ought to apply to the big banks even more. big banks got away with an enormous amount of thiefry prior 2008. but dodd-fran