i'm andrew ross sorkin along with joe kernen. we have mandy drury at the table today.t you this morning on wall street and in washington. before we do that, let's take a quick look at how the markets are shaping up. futures are setting themselves up. dow was open off about 25 points. nasdaq off about almost 4 points and the s&p 500 off about 2.5 points. on the economic calendar today, the nfib, small business optimism index is going to

andrew ross sorkin. >> he's not roar. he's got a pretty mouth. >> he's blushing. >> david tepper mini rally is in full play right here looking at u.s. equity futures. we are marginally higher. overseas in issue. the japanese nikkei taking a breather. up 40%. so it could do with just a little breather i would say. as for the european markets, marginally higher. >> you decided to skip the bloomberg story? >> there was no bloomberg story. they took it away. >> back to our news maker of the morning. david tepper $17.9 apaloosa management. >> i have to plug cnbc. i put a cnbc app on my phone. it sucks the life out of my phone. >> and you and those lips i'm not going to make a comment. i'm just not going to say anything. >> bloomberg knew he would be bullish today. >> they did? >> no, no, no. >> do you have the morning wakeup app? >> it's just for the market stuff. i think it's 99 cents. it is really good. it gives you the index, treasuries. >> do you save up for that? >> 99 cents. i saved up a long time. >> we are going to get

andrew ross sorkin. >>> about ten minutes until the close here.up, s&p at 1650 right now, and it's certainly another rally into the close. momentum is really heading there. >> feels like a melt-up. >>> when we come back, joe quinlan says this rally has plenty of room to run and he'll explain why the fed cannot take all that credit anymore. after this. >>> we don't have inflation, capacity for utilization is low, so you have room there. labor, employment is high. there's room there. there's no inflation on the horizon. so we have a little bit of room to run. >> that was david tepper on "squawk box" this morning, got everybody's attention when he was singing the praises of the stock market, it's undervalued, it's going to go higher from here, and in some ways, some people are crediting today's rally in part from what he said. mike santelli from yahoo! finance said that he's right, that there's more to room to run and joins us along with joe quinlan from u.s. trust. everybody's looking at these valuations saying there could be more room to run here.

i'm becky quick along with joe kernen and andrew ross sorkin. we are gearing up for that three-day weekend. we start this morning with the markets. the stocks at this point look like they are indicated slightly lower. those dow futures down by about 18 points coming after u.s. stocks are coming off their first two-day losing streak in more than a month. the nasdaq and the s&p 500 are both indicated lower, as well. s&p 500 futures down by about 4 points. in overseas action, the nikkei finished the day up 0.9%. not much of a rebound considering yesterday's drop. but it was a volatile session. at one point, the benchmark average plunged by another 3% drawing it below the ferchb mark index for the first time in three yeex. that tells you how fast this run has come. and the early picture in europe is going to show you there are some similar things to what's happening here. modest declines akrod the board. the dax down by about 64 points. the ftse off by about 0.6%. we will have more from our colleagues overseas in just a few minutes. >>> on our agend

i'm becky quick along with joe kernen and andrew ross sorkin. and let's start things off with the futures. they are indicated higher this morning. in fact, up by a lot. dow futures right now up by 1116 points. s&p futures up by 14. nasdaq looked like it would open up by about 30 points right now. in asia overnight, you did have some green arrows there, too. the nikkei was up by 1 is.2%. similar gains in shanghai. the hang seng was up by over 1%. in europe this morning, the early trade has some green arrows. the cac right 2340u is up by 1.5%. the ftse in london up by 1.6%. the dax was up by just over 1%. it may be a holiday shortened trading week, but we have a busy four days ahead for the economy. today we get the s&p case-shiller, the richmond fed survey and the dallas fed survey. a second read on first quarter gdp. chicago pmi and consumer sentiment, but also it looks like we are start, some green arrows after strong trading days yesterday in europe. >> and we have some deal news with the long weekend. valiant pharmaceuticals buying bausch & l

i'm joe kernan along with becky quick and andrew ross sorkin. ut first, andrew has your morning headlines. >> let's check on the markets right now. equity futures at this hour, got a little bit of mixed bag. slightly off, nasdaq up marginally, up 4 points, s&p 500 up over a point. we are less than 15 minutes away from the adp employment report for april. private payrolls are seen rising by 155,000 last month and we're going have mark zandi joining us with the numbers and his analysis. also the fomc, they'll be wrapping up a two-day meeting with an announcement. widely expected to maintain the monthly purchases of $85 billion bonds. you can watch the decision and analysis right here on cnbc. >>> and in earnings news this morning, merck reported first quarter earnings up 85 cents. that's x items, six cents higher than expectations. the company also announcing a $15 billion stock repurchase. >> and the most important part of the story, they guided lower for the year, even though it was a 6-cent beat in the first quarter. you've got three quarters le

. >>> josh barrow, joy reid, andrew ross sorkin and richard wolffe will be here to discuss. >>> and presidentds the thin red line. the president on the council on foreign relations richard haas weighs in. >>> three years later, has wall street figured out how to unravel the laws? barney frank will discuss the legacy of dodd/frank coming up next on "now." hey, look!k! a a shooting s st! mamake a wish!h! i wish w we could lie e here forevever. i wish thihis test dririve was , so we e could headad back to thehe dealershihip. [ [ male annououncer ] it's p practicallyly yours. testst dri! bubut we stillll need your s signature.. vovolkswagen s sign then d drie is back.k. and d it's neverer been easisir to get a j jetta. that's t the power of german n engineerining. get $0 dowown, $0 due at t signing, $ $0 dep, anand $0 firstst month's p pt on any n new volkswawagen. visit vwdedealer.com t today. on any n new volkswawagen. still doesn't feel real. our time together was... so short. well, since you had progressive's total loss coverage, we were able to replace your totaled bike with a brand-new one.

i'm becky quick along with joe kernen and andrew ross sorkin. let's start things off with the futures. joe mentioned that yesterday you did have gains once again, for the 20th time on a tuesday. well, this morning you are looking at a decline. dow futures down by about 55 points, s&p futures down by just over 8 points right now. in asia overnight, you'll see that japan barely budged higher. it was up by 0.1%. hang seng was the big loser. it was down by 1.6%. in the early trading in europe, it is a reflection of what you see here. there is weakness right now, the ftse down by 1%, more modest declines for the france and german markets. and as joe mentioned, it is d-11, and andrew, you know a lot about that. >> thank you, becky. do i know? i don't know if i know about it. >> d-11? it's all things digital. whatever that is. >> you're ahead of me. ahead of joe. >> i have no idea. >> only slightly. >> i love when they put it in there, d-11! d-11. what's d-11? >> i think it's the 11th all things digital conference. >> the 11th year of the all things di

the grio.com and msnbc contributor joy reid, columnist and co-host of "squawk box" on cnbc andrew ross sorkin and executive director, richard wolffe. joy, before we get to the broader issues plaguing or not plaguing perhaps in some people's minds, the republican party, the exit of michele bachmann. let us take a moment, because it is a moment worthy of relishing or putting the signpost down. this is the retirement of a woman who at one point said that obama care will kill people, has questioned whether carbon dioxide is harmful or not, whether or not a.c.o.r.n. was conducting a crennel us, really a woman with many theories in the political sphere. i wonder what you make of the retirement, and whether you think it was motivated by potential scandal or inquiry as it is today in terms of michele bachmann's campaign structure. >> first of all, if ulieie, the presidency of crazyland is open? great. shoo-in. and michele bachmann was sort of the perfect kind of crystallization of the problem with the republican party and the tea party. you had this tea party that said we're not really republicans, w

i'll see you back here tomorrow when i'm joined by andrew ross sorkin, joy reid, richard haas and then twitter "now"withalex. . "andrea mitchell reports" is coming up next. how many of these can we do on our budget? more than you think. didn't take very long, did it? summer is here, so are the savings. that's nice. post it. already did. more saving. more doing. that's the power of the home depot. get 1 cubic foot bags of miracle-gro garden soil, 4 for just $10. i've always had to keep my eye on her... but, i didn't always watch out for myself. with so much noise about health care... i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile. not random statistics. they even reward me for addressing my health risks. so i'm doing fine... but she's still going to give me a heart attack. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. >>> right now on "andrea mitchell reports" -- the political odd couple. governor chris christie hosting president obama at the jersey sho

i'm andrew ross sorkin along with becky quick and joe kernen. take a look at the futures. dow looks like it would open up about six points. nasdaq and s&p marginally up. making headlines this morning, former u.s. army general david petraeus is joining kkr. he resigned last year at chief. he's going to be called the chairman of global senate, them them with political issues and help their clients and investors. anyway, he landed on his feet. >> should be interesting. >>> let's get the national weather channel forecast from weather channel's jen carfagno. >> hey, guys, good morning. we're in the middle of a severe weather outbreak. yesterday in the northeast, nasty storms with wind damage. no doubts, some folks may be waking up without power this morning. today, the focus is back here in the middle of the country from minnesota down through portions of kansas and oklahoma, too, in it again. this storm system is the same one that will stay with us throughout the weekend. but it pass all weekend to make it through eastern seaboard. sundays and it's still not in new york city.

i'm becky quick with andrew ross sorkin.sterday. the dow down by 130 points. you're seeing a little bit of a gain reversing some of that. 30 points above fair value for the dow futures. s&p up by 4. in our headlines this morning, the european central bank is expected to cut its benchmark interest rate this morning. the latest policy statement is due 45 minutes from now. if they do this, it would be the first rate cut in 10 months as they try to boost a staggering eurozone economy. >>> ford is adding 2,000 workers to a missouri plant that makes the f-150 pickup truck because of surging demand for pickups. ford has seen a 19% in increase in sales for that category. a lot of that because of the resurgence in housing as you see construction companies picking up trucks and some of those contractors as well. >>> also with a 787 back in the air, boeing is turning its attention to another product launch. it has begun talking about pricing and other details for its 776 wide body yet. once it gets enough orders it would formally launc

i'm becky quick along with joe kernen and andrew ross sorkin. we start with the markets this morning. month of may, here st how the major average ves performed. the dow is up more than 3%. s&p is up nearly 4% and the nasdaq almost 5% as the tech heavy index is on pace for its best month since february last year. the dow by the way is on track to close higher for the sixth month in a row. the s&p and nasdaq are set for their second winning streak since 2009. a lot of records and here is another one for you. this will be the first time that the three major u.s. averages are up in each of the first five months of the year since the mid 1990s. as for this morning, there are some red arrows this morning. if you take a look at the futures pictures right now, the dow futures are down by almost 90 points below fair value. s&p futures are off by about 11 points. in europe this morning, you are continuing to see some similar moves there, as well. right annoy, the cac is down by 1.25%. drops of about 1 is% for the dax and for the ftse and in asia overnight

i'm becky quick along with joe kernen and andrew ross sorkin. we've been fachg the future and after another big day of gains and records, you can see this morning futures are mixed. right now, dow futures up by 7 or 8 points above fair value. s&p futures are down, but by less than half a point. the nasdaq and the s&p are on five-day winning streaks. the dow industriales and transports both closed at record highs once again yesterday. on today's economic agenda, we have weekly jobless claims due out at 8:30 eastern time. we've been watching the jobs numbers. the jobs numbers last week were better than expected. for this morning's numbers, first time filings likely rose by 11,000 to 335,000 in the latest week. also on the calendar today, you have wholesale trade coming up at 9:00 eastern time. meantime, some of the nation's retailers will be reporting their sales. thompson reuters is forecasting a same-store increase. plus, we'll be getting some fed speak today. we have richmond fed president jeffrey lacker speaking at 8:00 eastern time. at the co

i'm becky quick along with joe kernen and andrew ross sorkin. let's start things off with the markets this morning. check out silver. the medal hit by heavy selling. at one point tonight, silver hit a low of $20.30. that's down nearly 4% from the start of today's trading. what they talk about as the liquidation trade. that's where traders are forced to close position to meet margin calls elsewhere. this has been a trend that's been developing for quite a while. gold trading lower today. on friday, the trade data showed that hedge funds and other big speculators in the commodity have started selling the metal. this morning, you can see gold down by $15 to $1349. money managers billed 1.4 billion from u.s. futures for the week that ended may 14th. currency is a big part of this story. the yen is at 102.63 and the euro is at 1.2862. >> and our top corporate story this morning, yahoo!'s board have now agreed to buy tumblr for about $1.1 billion in cash. the blogging service was featured just like week on cnbc as a member of our distrubter 50 list. i

i'm about becky quick along with joe kernen and andrew ross sorkin. our team of cnbc reporters is spread out across the country covering all of today's top stories. we will have more on jpmorgan and jamie dimon from tampa in just a moment. plus, we will get to two hearings there and find out what is on the agenda there today. but we start this morning with what is likely muck the deadliest tornados in u.s. history. this twister, a mile wide at the base, stayed on the ground for nearly an hour today as it ripped across the oklahoma suburb city of moore. emergency teams continued to search for survivors overnight through miles of debris. jane wells is on the ground and she joins us with the latest. >> hi, becky. i'm at moore city hall where they're corralling the media and where they will brief us on the rescue efforts and recovery efforts. at least 20 children dead, more than 100 people injured in the hospital with what locals here are saying is the worst tornado they've ever seen. listen. >> well, when i was in the building, i could feel rumbling and

i'm becky quick along with joe kernen and andrew ross sorkin. t you'll see green arrows. s&p futures up by four points. the major u.s. stock averages ending lower yesterday as the s&p and nasdaq snapped five-day winning streaks but stocks are still on pace for a third consecutive week of gains. among the reasons cited for yesterday's afternoon selloff, we had the dollar, greenback crossing 100 yen for the first time in four years. it's been awfully close recently. we've been waiting for this to happen. happened late in trading yesterday afternoon. the yen falling and japanese stocks are rallying. nikkei hit its highest level since january of 2008 today. you can see 14,607. shanghai composite was up by 0.6%. in early european trading this morning, you'll see at least at this point that there are some gains here. the cac, dax, ftse up. >>> we got a little corporate new this is morning. a deal, actually -- not a deal but a deal offer. carl icahn and southeastern asset management now say they plan to make a bid for dell. you might recall they were involved in not a bid but ta

i'm becky quick along with andrew ross sorkin. mcdonald's is out with its numbers, sales numbers, just taking a look at -- looks like mcdonald's sales were down by 0.6%. the expectation was 0.7%, right about in line with it. remember, the company actually guided that april global comps would be negative back in april. i'm just looking through trying to figure out which of the arenas on this. looks like the u.s. was up by 0.7% and better than had been expected. we were looking for a decline of 0.2% there. in europe, looks like we were down by 2.4%, that was weaker than the 1.5% than expected when it comes to asia-pacific, middle east and africa. and that was not as bad as expected. the decline was expected decline 4.1. looks like europe was a problem there. maybe not a surprise when you consider the things happening there. but if you look at the comments from don thompson, the ceo, he says they're trying to do things in the second quarter against a backdrop of persistently challenging macro environments. he's talking about some of

joe kernen and andrew ross sorkin are back in headquarters on the east coast.al link center and right now it's empty and it's dark. but if you can get a grand scope for this area, right now we're sitting on stage. this is where warren buffett and charlie munger will be sitting on stage in front of 40,000 shareholders. this is a massive arena. this place will be packed to the primary tomorrow. it's the expectation. it's what's happened the last several years. this is a really big deal. i know this is officially starting tomorrow. but guys, i want to tept you, the hotel res already crowded. the airports are very crowded. the flight was full yesterday. there's the festivities that have begun every year. warren buffett goes on thursday night and plays bridge with his bridge club.

i'm becky quick along with joe kernan and andrew ross sorkin.the u.s. equity futures are indicated slightly higher this morning. dow futures up, s&p up by less than two points and the nasdaq looking the same frame. the dow, of course, coming off another winning session and that makes it the 19th straight tuesday of gains. 19 in a row. set a record with 18, another one yesterday. the s&p and the nasdaq have been up nine tuesdays in a row. stocks took a turn higher around midday yesterday because there were some comments that came out from the st. louis fed president. he told an audience in germany that the fed ought to stick with its bond buying effort to try to bolster the economic recovery. we do have some earnings to tell you about this morning, target trading lower after the retailer came in with a gap number of 77 cents a share, below estimates of 85 cents. now, the retailer itself said the numbers came in lower than expected, cut its full-year earnings outlook. target says that cooler than normal weather got the spring season off to a slow

i'm andrew ross sorkin along with joe kernen.r becky who will be back on monday. the u.s. equity market, it's on track for a fourth consecutive week of gains. comments about fed officials about tapering the bond buying program in the coming months. take a look at futures this morning. going to flip that screen around there. dow jones, look like it will open up about 48 points higher. nasdaq up about 5 points and the s&p 500 up about almost 5 points, as well. if you're following the money in this rally, equity funds now attract $8.9 billion in the weekended wednesday. that compared to 7.7 billion in the prior week. also in washington news today, the house ways and means committee, they'll be holding a hearing on the irs scandal. lawmakers will be questioning the newly ousted head of the

i'm becky quick along with joe kernen and andrew ross sorkin.ut silver. the medal hit by heavy selling. at one point tonight, silver hit a low of $20.30. that's down nearly 4% from the start of today's trading. what they talk about as the liquidation trade. that's where traders are forced to close position to meet margin calls elsewhere. this has been a trend that's been developing for quite a while. gold trading lower today. on friday, the trade data showed that hedge funds and other big speculators in the commodity have started selling the metal. this morning, you can see gold down by $1

i'm becky quick along with joe kernen and andrew ross sorkin.ning and another record close. the dow finishing yesterday above 15,000 for the first time ever. that's not the only record that got broken. the blue chip index finishing higher. 17 straight tuesdays is the first time that's ever happened. that's a weird record but one we've been watching closely. the dow is now up 15% this year and that is more than double its gain from last year. meantime, the s&p is up 14% so far for 2013. that also exceeds all of its gains for the last year. tech, energy and materials have been the biggest winners in recent weeks. this is notable because the three sectors have been laggers since mid november and year-to-date. in the last two weeks, tech has outperformed the dow and s&p 500. we've been watching futures this morning and after new records we seem to knock out every day, you do see modest green arrows. these are very modest at this point. the s&p 500 is up by less than half a point. dow futures up by 1.8. we've watched european stocks and some early tr

joe kernen and andrew ross sorkin are back at headquarters on the east coast.t. obviously, we have a lot to talk about with him including stocks, records, runs, the fed, bonds, the dollar and his deal for heinz. but first, before we get to all of that, joe and andrew have a wrap-up of the morning's top headlines and, guys, i'll send it over to you. >> okay. good morning. hi. >> hello, good morning. >> hi, warren. >> hi. >> i keep hearing you talk about me, warren. no one knows what the heck you said. so i don't know, it's like -- it's like one of the answers you give to a lot of questions. >> no. i was sitting right next to him and i heard him mention your name, too, and i'm not entirely sure -- >> nobody knows. >> he said what did he is and i said, i'm not sure and i actually said to becky, what did he say? >>sa

i'm becky quick along with joe kernen and andrew ross sorkin. t you'll see green arrows.ower yesterday as the s&p and nasdaq snapped five-day winning streaks but stocks are still on pace for a third consecutive week of gains. among the reasons cited for yesterday's afternoon selloff, we had the dollar, greenback crossing 100 yen for the first time in four years. it's been awfully close recently. we've been waiting for this to happen. happened late in trading yesterday afternoon. the yen falling and japanese stocks are rallying. nikkei hit its highest level since january of 2008 today. you can see 14,607. shanghai composite was up by 0.6%. in early european trading this morning, you'll see at least at this point that there are some gains here.

i'm andrew ross sorkin along with joe kernen.ould say that becky is traveling back from omaha today. they will be rejoining us tomorrow. let's begin with the markets. it's folt only good to see you, i was about to say we spent the night together last night, which is probably the wrong thing to say at this hour on television. >> it's cable. it's good. >> but we were -- we did -- we spent dinner together. i don't know what that -- anyway, with paul krol volcker and we can maybe talk about -- >> so there was more than you there? >> it just so happened i moderated this session with volcker last night. >> okay. >> and michelle came, was in the audience. >> but helped out by asking a lot of great questions and then we went off to dinner and she asked more questions.

i'm becky quick along with joe kernen and andrew ross sorkin.fter another big day of gains and records, you can see this morning futures are mixed. right now, dow futures up by 7 or 8 points above fair value. s&p futures are down, but by less than half a point. the nasdaq and the s&p are on five-day winning streaks. the dow industriales and transports both closed at record highs once again yesterday. on today's economic agenda, we have weekly jobless claims due out at 8:30 eastern time. we've been watching the jobs numbers. the jobs numbers last week were better than expected. for this morning's numbers, first time filings likely rose by 11,000 to 335,000 in the latest week. also on the calendar today, you have wholesale trade coming up at 9:00 eastern time. meantime, some of the nation's retailers will be reporting their sales.

i'm becky quick along with joe kernen and andrew ross sorkin. selloff in the global markets are fears of fed tapering. we're going to talk about chairman bernanke's comments yesterday and the minutes from last month's fomc meeting that came yesterday afternoon. those things both added up. before we get to that, though, let's get right to the charts and see what happened while most of us were sleeping. here is the big news. the nikkei down 7.3% to be exact. hang seng and shanghai were weaker within as well. but the big news that's be about what ben bernanke said and about what this signals for the federal reserve from here is the tapering is to begin as early as next month. take a look at what's been happening in europe in the early trade for some of these. you'll see weakness across the board here. everybody down by just about 2%. the ftse off by 2%. the cac and the dax off by stronger amounts. the dax is off by 2.75%. our colleagues in london are standing by with more, but first let's talk about the fed.

i'm becky quick along with joe kernen and andrew ross sorkin.ay weekend. we start this morning with the markets. the stocks at this point look like they are indicated slightly lower. those dow futures down by about 18 points coming after u.s. stocks are coming off their first two-day losing streak in more than a month. the nasdaq and the s&p 500 are both indicated lower, as well. s&p 500 futures down by about 4 points. in overseas action, the nikkei finished the day up 0.9%. not much of a rebound

i'm becky quick along with joe kernen and andrew ross sorkin.g. month of may, here st how the major average ves performed. the dow is up more than 3%. s&p is up nearly 4% and the nasdaq almost 5% as the tech heavy index is on pace for its best month since february last year. the dow by the way is on track to close higher for the sixth month in a row. the s&p and nasdaq are set for their second winning streak since 2009. a lot of records and here is another one for you. this will be the first time that the three major u.s. averages are up in each of the first five months of the year since the mid 1990s. as for this morning, there are some red arrows this morning. if you take a look at the futures pictures right now, the dow futures are down by almost 90 points below fair value. s&p futures are off by about 11 points. in europe this morning, you are continuing to see some similar moves there, as well. right annoy, the cac is down by 1.25%. drops of about 1 is%

i'm becky quick along with joe kernen and andrew ross sorkin.. they are indicated higher this morning. in fact, up by a lot. dow futures right now up by 1116 points. s&p futures up by 14. nasdaq looked like it would open up by about 30 points right now. in asia overnight, you did have some green arrows there, too. the nikkei was up by 1 is.2%. similar gains in shanghai. the hang seng was up by over 1%. in europe this morning, the early trade has some green arrows. the cac right 2340u is up by 1.5%. the ftse in london up by 1.6%. the dax was up by just over 1%. it may be a holiday shortened trading week, but we have a busy four days ahead for the economy. today we get

i'm becky quick along with joe kernen and andrew ross sorkin.d, the nikkei dropping more than 5% in a steep afternoon sell-off today. you'll remember last thursday, the benchmark index plummeted more than 7%. trading has been volatile ever since that. the nikkei is now down a total of 14% since last thursday's plunge. among the reasons that were cited for the sell-off this time around, a strengthening yen and the volatile japanese bond yields. we'll have more from kaori enjoji in just a moment. but this is key because this is what shook things up yesterday. there were concerns over the close in tokyo yesterday. as for the early trading in europe this morning, you're going to see right now at least there are some moderate advances. and i mean very moderate. you're talking up only about 5 points in london. a gain of 16 points in france and a gain of 15 points in germany. here at home, the dow industrials right now coming off their worst day in four weeks. it was the climb of triple digits yesterday for the dow and it was all sparked by concerns of

i'm becky quick along with joe kernen and andrew ross sorkin, and we're going to start things off thisudging. the dow is coming off another winning session, and guess what? this is the 19th straight session of tuesdays of gains. so, 19 tuesdays in a row the dow has ended higher. the s&p and the nasdaq have now been up nine tuesdays in a row. and stocks actually took a turn higher around midday yesterday. among some of the reasons that were cited were some comments from st. louis fed president jim bullard. he told an audience in germany that the fed ought to stick with its bond-buying effort to try to bolster the economic recovery. that's not things you usually hear out of someone like jim bullard, so it is not a stretch to say that fed chairman ben bernanke will be in focus today.

i'm becky quick along with joe kernen and andrew ross sorkin.terday you did have gains once again, for the 20th time on a tuesday. well, this morning you are looking at a decline. dow futures down by about 55 points, s&p futures down by just over 8 points right now. in asia overnight, you'll see that japan barely budged higher. it was up by 0.1%. hang seng was the big loser. it was down by 1.6%. in the early trading in europe, it is a reflection of what you see here. there is weakness right now, the ftse down by 1%, more modest declines for the france and german markets. and as joe mentioned, it is d-11, and andrew, you know a lot about that. >> thank you, becky. do i know? i don't know if i know about it. >> d-11? it's all things digital. whatever that is. >> you're ahead of me. ahead of joe. >> i have no idea. >> only slightly. >> i love when they put it

i'm becky quick along with joe kernen and andrew ross sorkin.llying late yesterday. in fact, the s&p hitting a record intraday high just in the final seconds of trading. the dow at this point, it is official, it's ended higher for 16 straight tuesdays. the blue chips index is up in each of the first four months of the year, and this is for the third consecutive year that this has happened. by the way, this is the best start to a year for the dow since 1998. the futures this morning, well, at this point, they are indicated slightly higher. dow futures up by just about 9 points, s&p futures up by 1 1/2 points. so, we'll see where we go from here, even though it's may 1st. >> look at a daily chart from yesterday. did you see it? >> it was pretty remarkable. >> all day, down, down -- >> down, down, and right at the end. >> boom, beautiful. pfizer was the problem yesterday, in the dow, right? let's go through lipitor. >> the list of -- >> 180 million, is that the number? >> yeah, yeah. lipitor, patent expiration in europe this time for

joe kernen and andrew ross sorkin are back in headquarters on the east coast. this is the central link center and right now it's empty and it's dark. but if you can get a grand scope for this area, right now we're sitting on stage. this is where warren buffett and charlie munger will be sitting on stage in front of 40,000 shareholders. this is a massive arena. this place will be packed to the primary tomorrow. it's the expectation. it's what's happened the last several years. this is a really big deal. i know this is officially starting tomorrow. but guys, i want to tept you, the hotel res already crowded. the airports are very crowded. the flight was full yesterday. there's the festivities that have begun every year. warren buffett goes on thursday night and plays bridge with his bridge club. he goes and plays with carol loomus of "fortune." we caught up with him last night. last night when we caught up with him, we got to talk about everything from jobs to jpmorgan, ibm and even twitter. buffett sent his very first tweet yesterday afternoon from an account th

. >> he's like a good-looking andrew ross sorkin. >> i guess we will go to break. >> we already did.tagram. they didn't have revenue or revenue platform. >> a very good point. everybody looked at that and said, oh, as if we needed more confirmation this was a 27-year-old idiot. that was brilliant. brilliant acquisition. >> silicon valley at bars they still argue. >> the adults are quitting facebook. where are they going? instagram and tumblr, by the way. >> are you like citigroup? do you have years of tabs loss carry forwards? >> we do. >> we're putting it all overseas. >> how about irs. do you have comments? this is a problem, is it not? >> it's very embarrassing. it say problem. certainly deserves to be investigated. it is being investigated however. at this point i don't see more than a bunch of boneheads within a big agency doing something on their own. we will see when the facts come out. the idea this somehow goes right to the top. >> you don't know it does until it does. >> let's assume you're right. >> then it's management of that. >> and then the other question is going to b

i'm andrew ross sorkin along with joe kernen. we've got michelle caruso cabrera with us this morning. we should say that becky is traveling back from omaha today. they will be rejoining us tomorrow. let's begin with the markets. it's folt only good to see you, i was about to say we spent the night together last night, which is probably the wrong thing to say at this hour on television. >> it's cable. it's good. >> but we were -- we did -- we spent dinner together. i don't know what that -- anyway, with paul krol volcker and we can maybe talk about -- >> so there was more than you there? >> it just so happened i moderated this session with volcker last night. >> okay. >> and michelle came, was in the audience. >> but helped out by asking a lot of great questions and then we went off to dinner and she asked more questions. >> ear going to help out more today because i'm tired, will you do what you normally do, watch the propaganda? >> yes. >> do it in a nice way. >> that's very tough for me. you're better at being nice. >> it's tak

. >> let's bring in andrew ross sorkin because jack grubman was on "squawk box" this morning.to that and this goes to some of the issues around research and what's going on on wall street. we talked about the fact that he was barred from the industry and we asked him if what he did at the time was wrong. he offered this view. >> let's be crass about it. if we wanted to maximize our personal income the way you did it was to be highly ranked by institutional investors because if you weren't highly ranked by institutional investors and you know this, every pitch book on wall street for every ipo that went down then, the analyst section and the first thing that led with was the i pulse and at the end of the day if you were not held in high esteem by institutional investors who thought you were nothing more than a sham, guess what? you dropped precipitously. >> when he said that he warned that the system now is no better than it was before, take a listen to this. >> here we are, 12 years later after the grand settlement and maybe a question to ask is has anything changed? >> i woul

i'm joe kernen along with becky quick and andrew ross sorkin.ures are down about 100 to 103 right now with fewer value down 35 and 139. >> is that a slump or a fall? >> i would call ate slump. do the math. do a hundred on 15,000. do a hundred on 15,000. >> a dive. >> no, a dive? >> a dive. >> you're a journalist, aren't you? do you want to hype this, call ate crash? it's a hundred points, andrew. >> the nikkei is a dive, a swoon. >> it seems so relaxed. >> it's probably dropped to the lowest level in three or four weeks. >> it's doubled from 8,000. we decided it was a double. there's the -- >> anyway, it's worth paying attention this morning. >> those other ones, hang seng is bad, but the shanghai is not that bad. wa about europe? >> it really is just a slump after all. >> the % here would get your attention. can you do that math quickly? >> 3%? >> it's 500 points. that will get your attention. so a hundred at this point. it's early. 6:30. we'll see. >> i was surprised to see it. >> you can always hope. >> as we've been talking about this mornin

joe kernen and andrew ross sorkin are back at headquarters on the east coast. we have the man of the morning with us, warren buffett. obviously, we have a lot to talk about with him including stocks, records, runs, the fed, bonds, the dollar and his deal for heinz. but first, before we get to all of that, joe and andrew have a wrap-up of the morning's top headlines and, guys, i'll send it over to you. >> okay. good morning. hi. >> hello, good morning. >> hi, warren. >> hi. >> i keep hearing you talk about me, warren. no one knows what the heck you said. so i don't know, it's like -- it's like one of the answers you give to a lot of questions. >> no. i was sitting right next to him and i heard him mention your name, too, and i'm not entirely sure -- >> nobody knows. >> he said what did he is and i said, i'm not sure and i actually said to becky, what did he say? >> he said something about him. >> it was nice, i think. >> it was nice, it was a question about something you're always bringing up and it's not net jet. >> see my lawyer. >> that was a long time ago. >

. >> another story reported by our own andrew ross sorkin.nk, it was on the front of the new york times. sony up in the pre-market. >> he's co-owned. >> we got half of him at least. >> dan loeb is calling on sony to spin off its entertainment division through an ipo saying it could result in sony shares being up 60%. he owns 6.5% of the company. he hand delivered a letter to sony ceo today. third point would not have made the substantial investment if we did not believe in a bright future for sony's global brand, superior technology and dedicated employees. >> we are confident that by acting as partners sony will grow stronger. for sony to change, sony must focus. in response, its entertainment business is important to the growth strategy and are not for sale. certainly not the first time we've heard about the possibility of that. in fact, in the m and a circles comes up and if you talk about potential deals you often talk about would they sell it to another media company, but this is interesting for a variety of reasons. it's a significant s