blackrock has a large network.d users and so, yes, they're opposed to that. but i would say this, wall street failed america but the regulatory system also failed. we need to shift to more transparency. >> blackrock is very much in favor of these changes that the cftc did. we were a big promoter of that. you should not assume all financial services firms were again what gary and the cftc did. this is opening the door for more transpirncy. ism think it will be a safer, fairer market for everyone but it is t does change the make-up of the sell side versus the buy side. >> you can imagine what -- corzine, mf global, money, where's the money, what's going on with corzine? any comments on any of that? >> no because of just what you said, that was 14 or 15 years ago. i decided once that broke and it was a situation that was about an individual enforcement matter and john corzine himself was involved, i thought it was the right thing to step aside. >> what about now? what finally happened s? >> let me say this, customer m

. >> rose: larry fink is here, the chairman and ceo of blackrock, he cofounded the firm in 1988 out of a one room office in manhattan. today, it is the largest asset management in the world. blackrock over sees approximately $3.5 trillion, it is, its stable includes stocks, bonds, hedge funds, index funds and etfs, the company is urging americans to prepare for the future now, its clarion call to the public is part of an issue inive called "investing for a new world". i am pleased to have larry fink at this table for the first time, welcome. >> thank you, charlie, how are you? >> rose: good, much to talk about, good to have you here, this is not something you do every day of your life. >> no, it is not. >> rose: so where is the market? >> the market right now is represents a lot of fear. we as humans are having a hard time adapting to the new realities of media, and we are bombarded with information. and there are so many channels of media today and media sells, and it sells well when there is bad news. and so media in my mind propagates bad news. and i am not suggesting it is not grea

i'm joined by bob doll from blackrock. let me start with the obvious question.n investor looking at the obamacare decision from the supreme court. if the supremes knock down and reverse the mandate which takes the guts out of obama care, what if any effect does it have on the stock market? what's your instinct? >> i think you said this. we go from one uncertainty to another. no one knows what's going to replace obama care if it goes away. we have to start all over again. so the problem of businesses saying "i don't want to move forward with whatever their projects are because i don't know unfortunately continues. the politics may be more interesting. i'm not sure the market has a big reaction. >> there are a lot of people saying you will have a boom in job hiring and stocks. i think you're right. there is so much uncertainty about what comes next after the election in health care. you know something will come. we just don't know how much it will cost and how we'll pay for it. the second issue is if you don't know what it will cost to hire the worker from a healt

strategist for fixed income at blackrock. >> what is risk free in this day and age? >> we generally traditional risk free, things you buy and get a certain return, which is cash and most cash equivalents which the return -- >> i don't know if you can make your fingers small enough to show the return in cairn. >> risk free, yes, in terms of your principle, but if there's any inflation, you're getting near zero you're losing purchasing power over time. >> cash to me seems like you're going to be certainly losing money, just by letting it sit there over the course of ten years, it could eat a significant chunk of your cash. lot of people are looking for opportunities to buy and jump in, they keep thinking they're saving, they're going to jump in when there's a market sell-off, another crisis. >> it's not just cash, we're talking about instruments traditionally viewed as safe assets. this is treasuries, this is high quality fixed income and what we've seen in the recent sell-off in european risk is that people have gone to tradit

. >> i want to point out blackrock, one of the biggest asset managers and incredible stock the last coupleair amount of talent at the top, bob dahl retired and robert capaldi stepped down, senior client strategist reporting directly to lawrence fink at the top, so a lot of defections at the top, ty, at blackrock. >> thank you very much, and thank you, tyler vernon for being here all week. i was traveling a little bit. >> always easy to remember your name. >> one tyler to another, good to be with you. oil, one of the movers over the past few months and mostly down but today higher. look at the chart. >> i think long-term, tyler, this is a great buy. we want to continue, there's more and more consumption of oil worldwide, and i think iran could start getting a little hairy here as far as with some of the sanctions that will be implemented.

i'm excited about joining blackrock. open up in life and that's the way it goes. >> thanks for joining us this morning. the question is do you replace bob dahl, larry fink. i don't know whose place you're going to take here. >> well, let me get started first. >> don't worry, we'll create a brand new spot for him. >> bob dahl is retiring. that's an obvious answer. larry fink stays, bob is gone. i mean, i don't -- anyway. >> when we come back, alternative exchange traded funds. how motif is looking to change the way investors think. and at the top of the hour, a thorn in the side of wall street banks. analyst mike mayo has issued numerous calls to sell the sector. ♪ i'm making my money do more. ♪ i'm consolidating my assets. i'm not paying hidden fees or high commissions. i'm making the most of my money. and seven-dollar trades are just the start. i'm with scottrade. i'm with scottrade. i'm with scottrade. and i'm loving every minute of it. [ rodger riney ] at scottrade, we give you commission-free etfs, no-fee iras and mo

>> i'm just the bond guy. >> overall for blackrock. less positive on bonds at this point or has it maintained a steady pace of what they would recommend the average investor put in terms of bonds versus stocks? >> well, i think we've been suggesting for some time that investors want to be long risk assets, whether those are high yield or equity assets and you want to not be too underweight them and we think a lot of investors to get cheap are. but the world's you want to try to pick up some return, not fail to participate in either the equity mark or the spread market. >> peter, thank you. we aushl appreciate talking to you. >> pleasure. thanks. >> coming up, we'll take a look at stocks on the move on the trading week and more from our guest host harry wilson. tdd# 1-800-345-2550 checking the charts. tdd# 1-800-345-2550 looking for support, tdd# 1-800-345-2550 resistance, breakouts, tdd# 1-800-345-2550 a few other tricks that i'll keep to myself. tdd# 1-800-345-2550 that's how i trade. tdd# 1-800-345-2550 and i do it all with charles s

peter fisher is the global head of fixed income for blackrock.to see you. >> good to be here. >> we've been trying to figure out what the fed will do. steve liesman and larry meyer raised the idea the fed might be nothing. conventional wisdom has been they would extend twags twist. what's your thought on, a, what the fed should do and, b, what the effectiveness of any of these measures might be? >> i agree with them. i'd like to see the fed stand pat. i think they're more likely to do an operation twist but i think they should sit still here. if you go back and look at what bernanke said in february and his testimony then, he expected the u.s. economy to slow down in the first half of this year compared to the second half of last year and it did. he expected the labor market would give back some of its gains, that they were one off improvement and not likely to be sustained and that's exactly what happened. he expected inflation to come down a little bit. it's just what's happened. he actually deserves a a little bit of a victory lap in terms of

then blackrock's bob doll. will a repeal of obamacare send

blackrock larry fink says that is he friending facebook. >> if the fundamentals are strong and the future of facebook and if they exceed those estimates over the next four quarters, this will be a -- the long-term outlook will be strong. >> so a lot of ifs there from larry but he thinks facebook may be okay long term. let's start talking numbers. on the technical side, rich ross and then on the fundamental side it's victor anthony who covers the name for topeka capital. rich, three weeks -- three whole weeks of trading. what do you think so far? >> bill, you only get one chance to make a first impression. i'm unimpressed. this chart looks a lot like the greek market and that's kind of an insult to greece right now. we think there's precedence for that lower $22 target. that precedence comes in the form of the blackstone ipo in 2007. let me show you what this means. you see it pull to facebook. it essentially opened at its highs. at the time we wondered, is it a good idea to buy a private equity firm? in hindsight we see clearly not a good call. here we are five years later, do you want to

here now is the chief global investment strategist at blackrock i shares group that just released midtlook today. that was just today? >> that was today. >> and michael o'zannion? co-host of the show "sports money." and noted bank analyst dick bovay who needs no introductions. dick, i'm going to start with you quickly. financials, people haven't been that friendly towards them in a while. but you always have a list like the cream of the crop. what would you buy right now? >> u.s. bancorp, wells fargo. safe banks where earnings have been going up on a consistent basis. the banks are bigger today than they were before the financial crisis began where the priceses of the stocks are lower than they were before the financial crisis began. because people are so frightened about rumors and stories and theories that they're not looking at the underlying earnings which continue to go higher. >> dick, you know, you never want to use the "r" word. you never want to use the word run, bank run. but there's enough fear and loathing in europe that our banks have to be benefittinging. where do you ta

bob dole of blackrock and bob mcdonald of virginia. a veep candidate. some shocking news on the presidential race between president obama and mitt romney. i want to know how to get this economy and country out of bankruptcy. that's the big question. [ female announcer ] it's time for the annual shareholders meeting. ♪ there'll be the usual presentations on research. and development. some new members of the team will be introduced. the chairman emeritus will distribute his usual wisdom. and you? well, you're the chief life officer. you just need the right professional to help you take charge. ♪ the president from interview: i talk to folks on rope lines and in coffee shops. people who have been out of work. you can tell it wears on them. narrator: he's fought to pull us out of economic crisis for three years. and he still is. president obama's plan keeps taxes down for the middle class, invests in education and asks the wealthy to pay their fair share. mitt romney and his billionaire allies can spend milions to distort the president's words. but they're

if you're looking for something clean with no hair on that dog, blackrock, they execute well and caneople well. >> that's an added punch. to deutche bank. auto zone saying economic concerns should weigh against new car sales and gasoline prices falling both favorable for auto zone's comparable same-store sales. the stock is up today. what do you think? >> i like autozone. in this economic uncertainty, people continue to fix their cars. on top of that, there's new homes -- the new car sales will lag. au autozone as they have the margins properly set, they will grow. killer kicker for you, sue, is fading ford. i think ford will get hurt as the new sales languish through the elections? >> you'd short ford? >> that's a nice kicker. autozone, hop on top and short ford >>> an down grading dow chemical to neutral calling the company the most expensive of the north american chemical companies, she tried to say, at this juncture. do you agree with them? >> i do. dow chemical is one of the largest suppliers to these large manufacturers. we will see it come down a little bit. dow chemical is gr

. >>> blackrock's global head of fixed income, peter fisher, what he expects to hear from the fed. >>ports news. roger goodell and senator durbin will hold a news conference this afternoon. they'll talk about bounties in professional football and coaches. yeah, bounties like the new orleans saints. they were -- it's not a great story for hard hits getting bounty. they were suspended, a couple of saints after the league accused the team of awarding cash for big hits. goodell and durbin are expected to discuss possible reforms to prevent bounty systems in the future. optionsxpress, where you can trade your favorite products, all in one account. keep watch on the markets. or use our exclusive tools to help find ideas. it's powerful, easy-to-use technology for trading stocks, options, and futures. keep trading whether you're at home, in the office, or on the go. optionsxpress, the broker smart traders deserve. open an account today at optionsxpress.com. back.'re the >>> we're back. the shipping industry has had its fair share of economic headwinds but the strength of the lng market has be

so i like blackrock. it's a nice, clean execution company. we're going to stick with it. look at the xlf. that's the etf for folks that have the financial stocks inside the s&p 500. right here broken under the 50-day moving average and holding the 200-moving average and if the $14 level, a way for folks to play longer term and have the financial exposure. >> all right. thanks, jeff. see you in a little bit. >>> coming up, our david faber goes one on one with rupert murdoch. >> when it comes to succession at now two separate companies and again with two boards, when are you going to let us know who conceivably is going to succeed you? >> ah, the answer to that question and many more coming up. >>> plus, those horrible fires that have been raging out west, unfortunately, it is getting worse. an update as "power lunch" continues. this is new york state. we built the first railway, the first trade route to the west, the greatest empires. then, some said, we lost our edge. well today, there's a new new york state. one that's working to attract businesses and create jobs. a pla

russ costrich is at blackrock group. you say that markets are likely to remain on edge.ets they went up in a very straight line the i do believe that stocks will get higher, but it's going to be a much rock iier road -- people are paying a huge premium for safety right now. a ten-year treasury has a very high duration with coupon payments this low, which means investors may be taking on more risks for safety than they realize. my view is what investors should look for investment safe havens that offer some up side and income while still cushioning the down side. >> you bond believe these dividend-paying stocks will have the impact of a fiscal cliff, which you say investors aren't factoring in enough? >> to be certain, if we hit the cliff, everything will feel the impact. i'm still cautiously optimistic that it can be avoided, but that by no means is a done deal. just to get back to dividend stocks, one of the advantages is that typically dividend stock or a fund the dividend stocks will have a lower beta to the markets than a broader index, in other words you still will

i'll be with blackrock as a consultant through the end of the year. >> we want to thank you very muchs, and we will talk to you again soon, okay? >> thanks, becky. >>> coming up, do you want to be your own backyard hot dog-eating champion? well, you want to know which wieners are healthy for you? we're going to let you know details next. >>> and the super rich. looking at you. fortifying their personal security with sophisticated cutting-edge protection. but that protection carries its own dangers. "squawk" continues after a short break. ... ...with the best math scores. ...the united states would be on that list. in 25th place. let's raise academic standards across the nation. let's get back to the head of the class. let's solve this. olaf's pizza palace gets the most rewards of any small business credit card! pizza!!!!! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! put it on my spark card! [ high-pitched ] nice doin' business with you! [ garth ] why settle for less? great businesses deserve the most rewards! awesome!!! [ male announcer ] the spark

so we cited yesterday with templeton and blackrock and goldman sachs, they are going to invest in russia. banks having some issues in the world. i think the banks some may actually want to pull some capital out of other accounts, there's so many issues in domestic markets. >> it's been a pleasure catching up with you. thank you for your time. let me send it back to you. from st. petersburg where we are enjoying catching up with many of the movers and shakers here. >> i know we've enjoyed hearing about it all week. meanwhile over here let's take a look what else is happening. as we know set to be a eurozone showdown of epic proportions not the leaders summit in rome the euro 2012 football quarter final match between greece and germany. angela merkel confirmed she will be in the stands to support her national team. who are you supporting on and off the field. if you want to join the conversation on "worldwide exchange," contact us. you can tweet us at cnbcwex. >>> coming up next we'll be talking about oil and commodities as brent crude is heading towards its worse week in a year. stay tune

blackrock chief equity strategist bob dahl will be departing at the end of the month.hropic interests. he'll serve as an adviser to the firm until the end of the year. >> yahoo! has put out a call for the new ceo. the job is said to be ross levinson's to lose. >> let's head to chicago. steve liesman is on the set. we've talked about how stocks will open flat to negative, rick. >> when it comes to treasuries, we're up a couple of basis points, and 154, 1 55. we closed in the low 150s, up a couple on the 30-year bond. once given as potential hope springs eternal in europe, we'll continue to see this. one of the guests this morning on the show referred that europe will continue to slip away and does believe there's going to be change. let's concentrate on something more important. we continue to see virtually zero interest rate on two-year shots. and if you look at what is going on in the australian dollar as many banks are trying to fend off the influx of capital or outflow of europe, we see how they're trying to deal with some of those issues. >> steve, it's been one of

andrew swann is head of asian equities at blackrock.at a country as many investors are that seems to be having diminishing growth, why would i want to be there? >> the last six to 12 months, chinese growth has been decelerating. we're seeing the effects of that coming through not just in local corporates but in international corporates with exposure to china, like nike today and ford. the reality is we're seeing a bottoming in that rate of growth. and we think the prospects for growth in the second half will be at least partly better than what they were in the first half. right now, valuations are cheap because those fears are very, very high about rates of growth. and importantly inflation is at a much more manageable level now. so we're starting to see some stimlatory policies coming through. >> is it to buy u.s. equity that is benefit from that potential rebound in the economy or the local companies? >> the most important thing is valuation. what's in expectations? in the case of chinese pure listed equities in asia, they're very che

our guest host will be larry fink, blackrock chairman and ceo. plus cftc chairman larry gensler. don't miss "squawk box" tomorrow. >>> welcome back, everybody. if you're just waking up, look out. there's a surprise this morning. we're actually looking at the dow futures up by triple digits. those dow futures up by 107 points. s&p futures up by almost 1%. in our headlines home depot is out with news. the company says it expects its 2012 share buy back to be about $4 billion, up $500 million from its prior guidance. >> today's national forecast, alex wallace is joining us from the weather channel. >> we got more in the way of rain this morning in the eastern part of the country, this morning stretching across parts of northeast some light showers moving across new york state. heavier rains, those carolinas, back down through georgia and even into florida where we're tracking stronger storms there. active weather here into texas, we're fining out this morning between lubbock and san angelo. heavy rain and more activity off to the north, northern parts of the plains all in associatio

here in blackrock county, i have spoken to people. their son and daughter did well. no job for them. nothing for them here. we are determined to turn that around. we went to work. we did it in two ways. first, we vastly increased the markets for agricultural products, not only in countries that were blocking access, but in emerging access -- countries. second, we did all we could do to end the practice of outsourcing. we started off by betting on you. literally, not figuratively. betting on you as the most productive workers in the world. america workers are the most productive workers in the world. and we started by trying to change and reward american manufacturers to stay in america or brought their factories back here. outsourcing -- mitt romney says he is of the same mind. this is pretty fascinating. i hope the press listens to this. [laughter] i do not mean they do not listen. [laughter] something's s.a., i wish they did not listen to. -- i say, i wish they would not listen to. [laughter] i tell you what, he says he is the same. he says he wants to bring americ