we've reported last week that such an agreement would be difficult to achieve, and as brian sullivan reports from doha, it was likely longstanding tensions that got in the way. >> reporter: saudi arabia's oil minister was all smiles as he entered sunday's big meeting in doha, qatar. then the bottom dropped out. 11 of 13 opec members, along with russia and other major oil-producing nations, gathered along the persian gulf to try and agree on a deal that would limit their total oil output with an eye towards stabilizing prices. as the meeting dragged on with no deal, an environment one participant told us was "very tense," hopes faded. after about 12 hours of negotiation the qatari oil minister came out to tell the horde of reporters no deal was struck. >> the meeting concluded that we all need time for fair eer consultations and from thousand till june meeting in opec. >> reporter: it appears ultimately, longstanding tensions between saudi arabia and iran may have skulgted any chance for that deal. iran chose not to attend the summit, hinting that they viewed it as unfair other opec m

brian sullivan is live in doha and he's got a lot more for us this morning. take it away, brian. >> you know, jim and david, i love what you guys are doing because you're ultimately talking about math. ultimately oil does come down to math. we'll get to that in a second. but let's talk about yesterday. what an amazing whirlwind and geopolitical intrigue filled day it was here in doha, qatar yesterday, because you had every range of emotion. in the morning reports out some kind of draft deal had already been agreed to. we talked to the ecuadoran minister about it, he said i like it, i'm going to sign it, saudis came in, big sbrouentour the delegates later went to visit the emir of qatar in his palace. came back got eerily quiet, not a lot of reports from the meeting room. then it turned serious. occasionally a minister come out, smiles turn to a grim face, and you could tell that maybe, maybe something was wrong. a lot of talk that the fight really began between russia and saudi arabia about the language of any deal specifically with regard to iran. then about

brian sullivan reporting from doha. we have seen a big percentage in the oil price today but we are close to 40. we have come a long way since those depths back in february. and i suppose it's not a surprise to see a bit of a falloff after the decision. but it is not like we have wiped out all the gains in the last few weeks and months anyway. >> the question going into last night with the futures open, with how much of the sharp relay was dependent on talks of oil freeze. and a lot of folks were saying this is extremely bearish because a lot of those -- that rally was fueled on the hopes, brian mentioned the kuwait workers' strike. according to reports, crude production in the country falling as low as 1 million barrels per day versus the 3 million that it typically does. so that is taking a big chunk of oil out of the market. a very bullish factor that's bumping up against this very bearish no deal in doha. >> but not only the move in oil prices, if we look at the reaction to equities or for good week we had last week

i i'm brian sullivan. it is go time. good morning, everybody. that was brian. we did an alarm clock app on cnbc. brian oversleeping this morning. that's why we played it. >> andrew and i have both done it. it's not your normal schedule. you just came back from the middle east. coming in here is not easy. >> when this happened to me cameras were outside in the parking lot playing the song "call me maybe." >> thank goodness the producer called. 100% my fault. i set the alarm on my iphone for 3:40 p.m. not 3:40 a.m. so kids, that's one to grow on. ♪ >> a.m./p.m. difference. >> the show is fantastic. i listened while sitting in traffic on the way? >>> tim cook should know this. i have the same problem. >> a.m. and p.m.? >> you can mess it up. >> thank you for being kind. >> it happens. happens to the best of us. >>> earnings season kicking into high gear. markets have been great unpredictable. investors searching for safety. here to tell us where to hide and about a new book that's really awesome. i suggest you read it. ed wa

brian sullivan is live in dohar with more. take it away. >> reporter: yes. thank you. you can thank striking kuwaiti oil workers for that drop. listen, the sun is setting here in qatar and that's sort of a metaphor for the hopes for a production freeze because the sun has set on that after yesterday's rather bitter meeting. min sisters were left to lick their wounds and reflect on what's next. first you have to look at increases in output from iran. it's really the reason the deal did not get done. saudi arabia wanted to limit iran even though they weren't here at the meeting. a lot of the ministers simply said they could not feel comfortable with that. iran is trying to mitigate the impact of sanctions and get back to four million barrels a day. iran might lift production. saudi arabia suggested they might raise output as well, they have another million to million and a half additional barrel capacity that they could put on the market and if we see iran go up, perhaps saudi arabia will play a game of brinksmanship and also increase production, perhaps as a punitive me

i'm becky quick along with andrew ross sorkin and brian sullivan.rning have been a little bit weaker. coming after a "today" ofday of triple-digit gains. s&p futures down by nine, dow down by 74 and nasdaq down by 20. oil prices speck yesterday. wti giving up seven. cents to 37.68. brent touched above 40 is now assisting at 39.81. >>> jpmorgan releasing jamie dimon's annual letter to shareholders. this is a must read. he says he's not worried about negative interest rates in the u.s. and more concerned about rates rising faster than people expect. also the banking ceo warning that lowering liquidity and higher volatility he says here to stay. dimon argues the fed's bank stress test is flawed and suggests jpmorgan could absorb the losses testify nation's 31 banks. as for jpm shares, dimon is not proud of the stock's performance over the last decade but what bank has outperformed its peers. >>> ceo is speaking out is the theme of the day. ge boss defending his firm from recent attacks from bernie sanders. in a "the washington post" opinion piece, he w

brian sullivan is in doha. he's covering the aftermath and he can give us some color on the saudi point of view and how this nonagreement came about. brian. >> yeah, mike and kelly. thank you very much. the what, no deal. the why. nobody wu going to golong if iran wouldn't. the minister saying why are we going to do a deed. for 20 plus years, the who, the big guy, the big gun in global oil negotiation was the saudi oil minister. he ran saudi arabia's oil business. he basically controlled the world's oil. everything he said, the utterances he gave could move markets. that's why when he walked in the door yesterday morning throngs of reporters jumped all over him saying he had a potential deal. he had a big smile on his face. it looks like that might have been a little bit of brinksmanship. i'll paraphrase them. meet the new boss. maybe not the same as the old boss. it's become clear the new biggest power in oil worldwide still remains with saudi arabia, but it's the 30-year-old calling the shots, the oldest shot

welcome to "power lunch" with brian sullivan, i'm michelle caruso-cabrera, and tyler mathisen is off today. and a nice rally on our hands. the dow, the s&p 500 and nasdaq all in positive territory. the best performing sector, financials, jpmorgan, profits were down, however, better than expected, that led to a rally in that stock with the financials. let's get to bob pisani at the new york stock exchange. >> we have aally going here, michelle. so far it is holding up and a

brian sullivan was there, spoke to nigeria's oil minister. here's how he described the breakdown in talks. >> unless iran would be obligated to go with the general pack, then it wasn't going to be effective. so we went back and forth, trying to work alignment. but it was clear that unless you had everybody in the ballpark, it doesn't matter whether we agree. >> dennis gartman is the editor of the gartman letter. dennis, always good to see you, sir. >> good to be seen, thanks. >> did you expect a deal? were you surprised? >> no, i wasn't surprised even slightly. it was abundantly clear the iranians weren't going to be there, and without them you couldn't arrive at an agreement. there was hope last week they were going to show up. but without them, the very elegant oil minister made it clear no agreement could be had. i think the problem is that we now have an opec that is really quite torn asupder. you have two enemies, i think abundantly clear that the saudis and iranians look across the persian gulf at one another and rather than start a sho

. >>> welcome to "power lunch" with michelle caruso-cabrera and brian sullivan, i'm melissa lee. off today. we start off with that bombshell at theranos. the wall street journal reporting that regulators are considering banning elizabeth holmes from owning or running any lab for at least two years. this follows a journal investigation published in october that questioned the integrity of theranos' lab results. holmes came on cnbc late last year to address those claims. >> this is what happens when you work to change things. and first they think you're crazy, then they fight you, and then all of a sudden you cha

let's talk more about doha because at the very moment our "power lunch" co-anchor brian sullivan is on way to doha, qatar, to cover what could be one of the most pivotal moments in the move of crude oil right now. >> it is a global game of political intrigue with hundreds of billions in oil dollars on the line. major oil producing nations gathering in doha, qatar, on sunday, to try to win a hard fought deal to stabilize or possibly even cut global oil production. the world is still producing a million barrels per day more than it needs. even with american output falling this year. many of the countries attending the meeting face a catch 22, they desperately need higher prices to fill their budget holes, but they also cannot risk slowing production because they need every dollar they can get. the biggest conflict comes between saudi arabia and iran. the saudis along with russia reportedly have agreed to cap production at current levels. they say they need iran to do the same. but so far iran rejected any deal, and continues to increase exports. iran needs the money and wants to rebuild

i'm brian sullivan. tyler mathisen is off today. well, there is a lot to talk about including the weakness we are seeing in the market, the dow jones industrial average down 145 points, its worst day in more than a month. maybe oil is part of it. oil is back between $37 a barrel. we'll get to more on your markets throughout the show. we kick it off today with america's ceos hitting back. some in the sea suite are not taking campaign trail rhetoric quietly. pfizer and ge firing back in op-eds, defending their companies and criticizing campaign language. jpmorgan chase jamie diamond also out with big concerns about where america is headed right now. will that fall on deaf ears or impact real change on the way these companies and others are viewed? here now billionaire investor will ross joining us. you're an investor in companies, right? you got your own business. you're not a public company, what do you make of the campaign trail attacks on business and individual corporations specifically? >> well, i think there is a terrible populo

i'm brian sullivan. tyler mathisen is off today.ing the weakness we are seeing in the market, the dow jones industrial average down 145 points, its worst day in more than a month. maybe oil is part of it. oil is back between $37 a barrel. we'll get to more on your markets throughout the show. we kick it off today with america's ceos hitting back. some in the sea suite are not taking campaign trail rhetoric

>>>well to "power lunch," along with melissa lee, brian sullivan, i'm michelle caruso-cabrera, tylery. let's look at the markets. the major indexes on the up side. the dow jones up 152 points, the s&p 500 by 17, and the nasdaq higher by 26. happening now, ceo mark zuckerberg of facebook expected to take the stage at any moment at his company's annual development conference. shares are higher by nearly 2% adding to a 6% gain for the year. let's get to julia boorstin. she's live at facebook's f-8

i'm becky quick along with andrew ross sorkin and brian sullivan, who's here nursing a shaving woundast hour and a half. he won't be smiling. he won't bei ining cracking jok. >> i cut my lip shaving. bleeding for two hours. i just want to throw it out there. >> he needs a stitch. >> i had a witch doctor. anything. >> i saw you bleeding on the street as i was pulling up this morning. >> did you really? >> i did. you were standing there getting coffee. i was like, oh, what happened? okay. no smiling. joe is off today. we're going to talk more about a lot of things that are happening this morning. let's get that out of the way off the bat. equity futures this morning giving back a little ground. of course, the dow was up by triple digits yesterday. right now looks like the dow futures are down by 79 points. s&p futures are down

i'm brian sullivan with tyler mathisen. melissa is off today.e caruso cabrera will join us continuing hir amazing special reports from inside iran. it really is an all acc show today which we love. let's dive right into the deals we got today. you have abbott labs buying st. jude medical for $25 billion. that is the biggy. abbvie

i'm tyler mathisen along with melissa lee and brian sullivan.ave a series of special reports from iran. and the countdown is on to t

i'm michelle caruso-cabrera with melissa lee, brian sullivan, tyler mathisen is on assignment.e begin this hour with a bombshell of a story still developing. a massive leak of financial documents revealing how the wealthy and the world's most powerful leaders are hiding their money. eamon javers joins us with more on what is being called the panama papers. robert? >> that's right. it is being called the panama papers, also being compared to the edward snowden leaks and the wikileaks situation back in 2010, a dramatic exposure of global information. here's what is a

brian sullivan is traveling today.elissa lee is in miami beach for the e-merge conference and we'll get to her in one second. first we'll begin to begin with the markets and could be a new full charge as the major averages hit fresh 2016 highs again today. now, we have pulled back some since then with the averages hugging the flat ne

right to brian sullivan live in doha, qatar. where high hopes for an oil deal quickly fell apart. >> tyler, thank you very much. there's a lot of talk about what did not happen here. we did not get a de, fair point, but i think you also have to talk about what did happened? s about 50% of the world's oil capacity was in that room. interested in oil, energy and the economy came out. there were reporters everywhere. in fact when the minister walked in, there were a lot of smiles, talk that a deal was all but a done thing. you could see the interest still as the reports hounding that sawed ir al niemi, russia, a number. for much of the day what also didn't happen? >> 11 of 13, libya. >> you're in iran, remember, we're very close to that country white iran was not here physically, after the meeting failed and end ed we it with th energy minister. i asked him, was iran there in a way, and his answer implied that while iran not here fully was indeed possible in touch with some folks during the meeting. >>> to go with the -- then it wa

. >> you know, i think that i have to give brian sullivan the prize of the day. hi comments on the beige book release was it might be kind of a c-plus beige book, but you know the fed still refuses to tighting c-plus with a was i 2% economy compared to the rest of the world, to me you could have it both ways, but yet i'm wrong. the fed gets it both way. granted, the same people don't write the statement that write the beige book, but it seems the statement, coming up for reasons to find excuses, or the beige book seems to always find the highlights. it's that quandary were now seeing with and dealing with every day in terms of what's going on with the fdic and fed. jamie dimon mike careful. who would disagree, 34,000 in compliance, you know? subjective when it comes to the government and regulators? oh, my god, you could drive a truck through it. i don't envy their situation at all. interest rates moving lower on a good auction, but not necessarily because stocks are strong. >> and we're up 184 on the dow. what leave railroad watching here? i keep hearing 275 was

no fooling, i'm brian sullivan, he is jim cramer. carl and david are off today. your friday road map starts with what else? that big jobs number. the march jobs number coming in a bit better than the consensus forecast. the government says we added 215,000 jobs last month. unemployment rate ticking up a notch to 5%. futures not liking it. the dow is down about 100 points. more on the jobs and your money in a moment. also if the headlines, china's anbang withdrawing its $14 billion bid for starwood hotels. that means starwood will be owned by marriott. we'll talk about what is next. and an interesting story around the mysterious anbang. tesla shares higher this morning. elon musk unveiling the new model 3 in los angeles last flight. he says preorders are already red hot. welcome. good to be back with you. lots to do today. we have to start with the markets, all of the viewers and listeners following that jobs number. not a great number, pretty good number. stock market doesn't like it. >> the market is torn. i think the most important thing left out of all the dis

>>>well to "power lunch," along with melissa lee, brian sullivan, i'm michelle caruso-cabrera, tyler is off today. let's look at the markets. the major indexes on the up side. the dow jones up 152 points, the s&p 500 by 17, and the nasdaq higher by 26. happening now, ceo mark zuckerberg of facebook expected to take the stage at any moment at his company's annual development conference. shares are higher by nearly 2% adding to a 6% gain for the year. let's get to julia boorstin. she's live at facebook's f-8 developer conference in san francisco. what are we watching for, julia? >> right now there are 2600 developers and press in the conference hall next door. they are here to learn about all the new tools that facebook is going to give developers, tools that that will change the way we as consumers can interact on facebook's various platforms and also could change how facebook eventually makes money. surely we'll hear how facebook is putting live video front and center and integrating oculus into facebook's other services. and we'll also look at how messenger will happen brand interac

ringing the closing bell of the new york stock exchange, virginia tech including one of our own brian sullivanright there. the nasdaq it's church hill downs getting ready for the kentucky derby. >>> showing that virginia tech pride up there. welcome to the closing bell. i'm kelly evans. here's how we're finishing up the session. the dow going out with a small gain of about 11 points on the bell. the s&p up three. 2091 is the closing level. it's p it did close negative. it gave up about 7.5 points today. and we've got some big names on tap. another busy hour here for earnings. we'll get you results from apple, twitter, at&t twitter and chipotle. susan lee will cover chipotle for us. courtney reagan all over ebay. buffalo wild wings, u.s. steel. julia will be bringing us twitter. joining the panel today is dennis berman, our lone guy from the wall street journal. great to have you here. it's guy and the ladies. bring us up to speed here on what you think is working through market psychology? >> you had a segment just before the central bank earnings more or does earnings -- i got to put my money

welcome to "power lunch" with brian sullivan, i'm michelle caruso-cabrera, and tyler mathisen is off today. and a nice rally on our hands. the dow, the s&p 500 and nasdaq all in positive territory. the best performing sector, financials, jpmorgan, profits were down, however, better than expected, that led to a rally in that stock with the financials. let's get to bob pisani at the new york stock exchange. >> we have aally going here, michelle. so far it is holding up and a global rally. let's talk about the reasons why we're getting the move. there is two primary ones. better china trade data, particularly on the exports. then bank earnings, jpmorgan, let's call it good enough. that's my phrase. people were expecting downbeat commentary. we didn't get that. that helped move the financials and the overall markets. high cash positions forcing a lot of people into the markets, short covering going on. look at the china trade data. the news on china has been relentlessly bearish for a year. everybody said, oh, my heavens, maybe the news isn't so bad. short covering rally and hang seng, u

i'm michelle caruso-cabrera with melissa lee, brian sullivan, tyler mathisen is on assignment. we begin this hour with a bombshell of a story still developing. a massive leak of financial documents revealing how the wealthy and the world's most powerful leaders are hiding their money. eamon javers joins us with more on what is being called the panama papers. robert? >> that's right. it is being called the panama papers, also being compared to the edward snowden leaks and the wikileaks situation back in 2010, a dramatic exposure of global information. here's what is at issue here. a panama law firm called mossack fonseca, 11 million documents taken from that law firm, given to a german newspaper, which shared them with a global consortium of media outlets around the world. in those documents, according to the reporters who had a chance to go through them, are accounts of world leaders, as many as 12 world leaders who set up shell corporations using that panamanian law firm to allegedly hide assets around the world. one of the leaders under scrutiny today is vladimir putin. his n

i'm brian sullivan with tyler mathisen. melissa is off today.ichelle caruso cabrera will join us continuing hir amazing special reports from inside iran. it really is an all acc show today which we love. let's dive right into the deals we got today. you have abbott labs buying st. jude medical for $25 billion. that is the biggy. abbvie is buyingstemcentrix. let's bring in michael ye and another health care analyst. michael, first you to. given the deals that we have seen, not just today but in the past, why do you believe a biomarine or vertex may be takeout targets down the line? >> two reasons. one is if you looked at biotech valuations, they're down 35% off the top in the last 6 to 8 months on political rhetoric that we talked about. so asset prices have come down and become a lot more attractive. the second point is that there's no change to the fact that big companies need commercial products and they need pipeline. that's exactly what you're seeing. >> and what will those companies have that make them attractive you to or to potentially bo

i'm tyler mathisen along with melissa lee and brian sullivan.e'll have a series of special reports from iran. and the countdown is on to the fed decision. or nondecision. 59 minutes from now. >> but meantime, we start off with apple. that stock is more than doubled the daily volume average, 80 million shares trade sod far today. as you might expect, apple is pressuring the nasdaq. surprising moves in the dow and s&p 500 which look to be pretty resill yenlt on t yenl-- resili of this news. what does apple need to do to bounce back from the first revenue decline in 13 years? let's bring in our analyst who lowered the price to $125 after $141. jason ware, he owns 143,000 shares of apple. gentlemen, great to you have with us. i'll start off with you, you know, it really is the second quarter revenue guidance that has a lot of investors concerned. and all the reasons they list behind that revenue guidance lower is they're terrible reasons. plan to cut inventory by $2 billion. lower average selling prices because of that se. overly optimistic forecast

. >>> welcome to "power lunch" with michelle caruso-cabrera and brian sullivan, i'm melissa lee. tyler mathisen is off today. we start off with that bombshell at theranos. the wall street journal reporting that regulators are considering banning elizabeth holmes from owning or running any lab for at least two years. this follows a journal investigation published in october that questioned the integrity of theranos' lab results. holmes came on cnbc late last year to address those claims. >> this is what happens when you work to change things. and first they think you're crazy, then they fight you, and then all of a sudden you change the world. and i have to say i personally was shocked to see that the journal would publish something like this, when we had sent them over a thousand pages of documentation demonstrating that the statements in their piece were false. >> bill george is harvard business school professor and cnbc contributor. jeffrey sonnenfeld is associate dean with yale school of management. great to have you with us. collectively, including jeff who is going to join u

for tyler, melissa and michelle and myself, brian sullivan, happy april, happy friday. welcome to just under two hours of "power lunch." let's get to it. by it, we mean more on what you heard from steve, the u.s. economy, the fed, the job market and your money. let's bring in diane swonk, and dennis garman making an appearance on "power lunch," our lucky day. david katz as well should join us. diane, what do you make of this? mester saying, guess what, we may raise rates, we may not. if we do, we may not do it fast enough. if we don't do it fast enough, we have to do it fast down the road. you got that? not too fast. i think that was my analysis. >> mine too. >> i like that analysis. i think what we're seeing here is the division within the fed between the hawks and the doves and likelihood that we will see the april meeting more than one dissent. mester dissented at the march meeting and another voter didn't dissent at the march meeting may be poised to dissent. we could see two dissents at the april meeting as sort of yelling cages hawks and holds them back. i think t

brian sullivan is traveling today. melissa lee is in miami beach for the e-merge conference and we'll get to her in one second. first we'll begin to begin with the markets and could be a new full charge as the major averages hit fresh 2016 highs again today. now, we have pulled back some since then with the averages hugging the flat line. the dow is higher by eight points and the s&p, moving the monitor so i can't see it. >> up three-quarters of a point. >> and the nasdaq is lower by 31 points. where are we headed to from here? let's get to bob pisani on the floor of the new york stock exchange. bob? >> hello, michelle. we're flat because ibm has been a drag and tech has been a drag and the question is can we hit new highs and the key, remember, may be earnings. markets have moved up. they have been a floor under the market and the market believes that, off the low and china hasn't gone away and it's been a lot quieter. earnings have been the big problem and the missing ingredient. we've had four consecutive quarters o

brian sullivan joins us there with the latest. unfortunately, brian.erstand it's a four second delay so i don't want to talk over you. so just think about when you're done with your report, you've been there for a weekend. i want to hear about whether there's any place to get in trouble in doha at night and whether you were able to find any place like that. >> well, call this a kind of as live then, joe. yes, we are live thanks to our cnbc arabia bureau. we had a satellite problem this morning. no, haven't left the hotel. here's the reality. yesterday a very dramatic day. could have been historic. they haven't made a coordinated deal in more than 15 years. they hope to get that yesterday here in doha. i guess we'll call it noha. nothing ended up happening except that all sides left without an agreement. let's talk about the fallout for oil. yes, oil is down nearly 4%, wti futures not as bad as you might expect. we'll get to the reason in a second. here are the bear and bull cases for the price of oil following doha. obviously the bear case, oil hoped t

no fooling, i'm brian sullivan, he is jim cramer. carl and david are off today.hat big jobs number. the march jobs number coming in a bit better than the consensus forecast. the government says we added 215,000 jobs last month. unemployment rate ticking up a notch to 5%. futures not liking it. the dow is down about 100 poin