james bullard speaking in singapore. two major themes.and what doesn't go into john taylor's global headwinds. with us as well. productivity is a mystery. >> we have seen it in profits. what is interesting there is there is so many factors helping -- factors holding back investment but it is not being turned back into investment. instead of going to corporate buybacks to dividends, those are the things we worry about going forward. interestingly, productivity growth picked up when wages picked up in the 1990's and you saw innovation as firms tried to deal with that. there is some uncertainty, regulatory uncertainty. >> you throw everything in there and you'll get it. >> but should we be worried because we don't have a handle on it? should we ignore it? >> we should because we can't find it right now. we need to find their productivity and it is worrisome because the fed wants to overshoot and allow little inflation. if you believe the productivity numbers, you have little wage gains. george, i don't want to get you in trouble, but is it f

. >>> jim bullard said a june hike isn't set in stone.an interview with cnbc, bullard did argue that market data suggests it's time to pull the trigger. listen. >> obviously, we try to be data-dependent, i don't think there's any reason to prejudge the june meeting at this point. we can wait until we get to the meeting, see what the data say and try to make a good decision there. i think on the issue of press conferences we have made many moves over the years, without press conferences. so, i think we could make a move without a press conference in this circumstance. >> keep in mind, no press conference at the july meeting. yes, in june, opening up the suggestion as other regional fed presidents this week have for two to three rate hikes this year. as for the risk of brexit and the chance that the uk vote could give the fed pause in its june meeting. bullard says he doesn't consider it it quite the global market event. but he does note that his view could be, quote, an outlier. >> it's something that the fed is mixed about whether it's go

speaking earlier to cnbc, james bullard said there's no reason to rejudge a june rate decision. >> i don't think there's any reason to prejudge a june rate decision. i think on the issue of press conferences we have made many moves over the years without press conferences, so, i think you could make a move without a press conference. i think for that first move, you know, the one we did in december, there, you probably wants to have a press conference because that was our first move. whether you have to do that for every single move i think is questionable. >> you've been quoted in just the last couple of days including on our outlet on cnbc saying the thing to watch is inflation and labor market and wage pressures. do you agree that we are full employment in the u.s.? >> i think we're at or beyond full employment in the u.s. on the labor market side that's probably the strongest argument for going ahead and making a move. it's other factors that might be causing some hesitancy about this. but if you just look at the labor market. if you took all of your signal from the label market,

bullarde: for her part, says the peace corps has become more cooperative since the controversy, but sheorries things could change again at any time. >> that is why it is so important for me to get the legislation passed and spelled out very clearly so that there would he no question as to if we have access to the information. future, there will be another volunteer like my kate who wants to fight things. honor kate's sacrifice by doing the right thing now so that christine: the overarching problem of allowing access by inspectors general to pocketit may seem like change to you, but to the transportation security administration, your loss is their game. th coins.ostly in forgotten that's right -- the tsa keeps the nickels and dimes left in the bottom of those plastic bins once you pass through security. it's been counted and turned over to the security office. might want to consider spending it on more staff. last week, the port authority of new york and new jersey suggested it and replace the tsa with private contractors if it did not improve its "abysmal" performance. an atlanta airpor

james bullard speaking at a conference in seoul.e said labor markets appear to be, quote, well prepared for a hike but didn't specify a date for the move. >>> stocks to watch, jazz pharma is buying celator for $1.5 billion. earlier this year, celator announced the treatment for leukemia. >>> and the coo of airbus said a slowdown is normal following years of extremely strong orders. the company has only secured 92 orders through the first months of 2016. as long as they match deliveries, airbus will be content. >>> and sun cor operations are expects to resume following massive wildfires in the area. >>> more stocks to watch. air france-klm in talks to sell catering unit. it's worth about $520 million. it's stepping up global expansion to buy swiss airline company gate for $1.5 billion. reuters reports several chinese and japanese suitors expressing interest in cit units. the first round bids for the releasing arm which owns a fleet of 350 planes are due in june. >> the ceo of singapore's noble group use of ali reza has resigned. nobl

louis fed chief bullard saying he's not sold on a june rate hike right now?think the same, it's unlikely we see a rate hike in tune. what we see in june accompanying the federal reserve meeting is hawkish comments to set the market up for a september rate hike. needless to say, we're investing in advance of tomorrow's jobs report and the fed meeting in june. the fact of the matter is there's reasonable opportunities in the market today. you have to be careful in terms of what sectors you are investing in. we prefer the defensive areas like health care, consumer staples selectively and avoiding some of those that led the rebound rally since mid-february. liz: you like among your names, you've got pfizer, which is cheap p/e of 13 and i-shares home builder etf but keeping it broad here, are you buying on a now, mark? >> we are, liz. the fact is that the fundamental underpinnings for the u.s. economy are reasonably good, we're going to see positive economic growth and should provide a fertile profit for climate growth in the back half of this year, and as a conse

louis fed president jim bullard saying june rate hike isn't set in stone.rguing that labor data suggests it's time to pull the trigger. >> obviously, we've tried to be dat data-dependent. i don't think there's any reason to prejudge the june meeting. we can wait until we get to the meeting and judge the data there. i think on the issue of press conferences we have made many moves over the years without press conferences so i think we could make a move without a press conference in it this circumstance. >> as for the risk of brexit and the chance that the uk could vote -- the uk vote could give the fed some pause, bullard says he doesn't consider it quite the global financial market that some are saying. but he does note that his views to be an outlier. we're going to hear from philly fed patrick harker and kashkari and fed president from dallas speaking today. and hewlett packard will merge with computer sciences in an $8.5 billion transaction. shares of both of those companies are up sharply on that news. hp up by $1000. h hewlett-packard enterprise will m

no tightening where the fed is forecasting a little bit more up to 3.75 in the long run, and the bullarde arguments, if you look at the weak gdpp and the market expectations, the market has it right, but if you look at the tight labor market, and inflation, the fed has it right. so it is important that he is so in between here. and the global influence, and the influences of the weak global e kconomy are waning arod and the effects of the strong dollar are easing, and finally, the q1 weakness is related to something that we have talked about which is easeality. and coming up, we have two fed presidents, john williams from the san francisco fed, and dennis lockhart, the atlanta fed president. and back to you, carl, from beautiful stanford, california. >> hopefully they are going to be moving the needle more than bullard did. thank you, steve liesman. and more earnings on godaddy. double your money back guarantee. always discreet is for bladder leaks and it's drier than poise. try it. we're so confident you'll love it, we'll give you double your money back if you don't. incredible bladder

i like bullard. bullard is saying all the right things now.weeks is strong, then it's time and i'm with him. >> yeah. >> smart guy. >> he's going to be really happy that you like him now, i think. >> he came around my view in oil. he and i are on the same page. we're like separated at birth. i'm not kidding. he's always a nice guy. i felt terrible i disagreed with him. >> salt of the earth, missouri. >> coming up, we'll give you some final thoughts from our guest host, adam grant, about keeping your enemies, frenemies close. >> enemies are better than frenemies. >> that's why we are looking right at you, baby. >> okay. >> we're watching each other. >> first, a quick programming note. you don't want to miss "pandora lives." don't miss it. and netflix trading higher given speculation about time warner. under $30 million. and now, another mercedes-benz makes history selling at just over $30,000. ♪ and to think this one actually has a surround-sound stereo. the 2016 cla. lease the cla250 for $299 a month at your local mercedes-benz dealer. mercede

louis president james bullard agrees global headwinds are not as much a concern as they had been but remains undecided on the path forward for rates. >>> earnings, dow component merck saw first-quarter revenue fall short of analyst estimates, extending a four-year decline in sales. the company citing disappointing results from some of its older drugs. but merck is optimistic that growth from its newer medicines, including a hepatitis "c" treatment, will help revive sales. that prompted the company to raise and narrow its earnings and revenue forecasts for the year. >>> fellow dow component verizon hosted its annual shareholder meeting amid one of the largest labor strikes of the past few years. and those striking workers made themselves heard to executives and investors. jane wells reports from the gathering in albuquerque. >> we're disgusted! >> reporter: what is usually a boring affair, the verizon annual meeting in albuquerque, new mexico, was suddenly breaking protesters from the union representing tens of thousands of striking workers on the east coast descended on the southwest

bullard and jim speaking -- bullard says growth is slow and inflation expectations are slow, but markets are strong, financial stress has eased. back down to where we were last fall. if a data dependent fed wants to move, one of the headwinds disappeared. david: they are data dependent could we have more coming out this morning. durable goods. keep an eye on the sub index capital goods suspending leaving out the defense spending and commercial aircraft, a proxy for business pending. it has been falling. the goal line is higher, business pending is lower. why is business not contributing? to see be adjusting today if that turns around with the more optimistic indicators we've seen recently. that's interesting to see today if that turns around with the more optimistic indicators we've seen recently. wrap of what's been happening, a big two days of gains over in europe. the biggest two-day pop on the stock 600 since february -- since february. the big headline generator not coming from stocks, but right here, commodities. .9%. crude higher by many derivatives of this story, look at the cred

james bullard just spoke. ministers discuss how to conclude greece's bailout review. on wednesday the bank of canada will announce its interest rate decision. we have plenty, plenty of central bank watch. we also have to talk more about the fed and wage growth in the u.s. michael mckee joins us. he will do three hours of radio with tom later. michael: you make that sound so bad. nobody is getting a raise and the rich keep getting richer? that is starting to change. the atlanta fed has a wage growth tracker, and it is at its highest since the recession. take a look at this chart from the atlanta fed. they have divided it into high wages, low wages, and medium wage jobs. the unemployment rate shows wage shows -- wage growth unemployment for those three categories has been coming down across all of the three. let's take a look at the other chart that shows gains for wages going up at a fast rate for median and low-wage jobs. median wage growth for low-wage jobs is back to its 2003-2007 average. high wage is at 75

we also heard from bullard and he said some stuff too. and dallas fed chief robert caplan said he could continue to kaplan. >>> underestimating the odds of a fed hike in june. david is with us. what makes you so sure that we are going to see this market contradiction this month? >> first we've been bullish the last three months. positioning was way too bearish and we thought concerns china was exaggerated and dollar was over bought but now we are ripe for correction. speculators also long oil. and third fed is still on the fence with regard to hiking in june. and with regard they hike or not right now we have priced in virtually nothing. so the risk reward ahead of that is not great. so we think there will be a correction but then we will buy. >> so if the fed hikes in june how big impact on emerging market flows? it is only 25 basis points if they hike one would assume. >> yeah indeed. and we have become used that fed hikes ares inially bad more yen but --. we actually think the impact on the yen if yen continues to be better will not be

louis fed president james bullard is in california to speak today.nd alibaba and merck report results before the opening bell and we'll hear from news corps, square and gopro after the close. >> tesla posting a slightly lower than expected loss. target moves up two years. it was supposed to be by 2020. but tesla is cautioning that spending will increase as that production ramps up. on the conference call ceo elon musk also suggested his company will be raising capital. have a listen. >> for us to raise some amount of money. some combination of equity and debt. and make sure the company has a good buffer of, you know, cash on hand. >> shares of tesla rising on the report here in the pre market. they were sort of all over the place in the after hours market. popped originally. now up it looks like almost 4%. not everyone is a believer in tesla. at the sohn conference that we were at yesterday, jim chanos says he's shorting tesla. listen. >> one of our historical sign posts of a company in trouble is when numbers of senior people leave over a short peop

bullard saysough he's not concerned about brexit, i'm pretty sure it is going to be on there. francine: at least look at it. stewart: they have a great excuse not to do anything in june, partly because of brexit, together with at the moment still in line cpi. as long as inflation doesn't jump in the june meeting, i think they will not move. francine: thank you so much, stuart richardson. we will be talking about some of the market volatility next. stay with "the pulse." plenty coming up. donald trump backs briggs it calls-- brexit while abe for britain to stay in the european union. plus, north korea calls a congress. we are live in pyongyang. then, turkey's turmoil. what does political upheaval in turkey mean for europe's deal over the migrant crisis? we will bring you the very latest. ♪ francine: welcome back. let's get the bloomberg business flash with nejra cehic. monte de paschi are higher after posting first-quarter profits that beat analyst estimates. bad loan provisions looking for a buyer to shore up its finances fell. what income fell to 92.3 million euros. that comp

we have heard from bullard and stand fisher and williams in san francisco. they all seem to get it and seem to know that it some point they should be raising interest rates in order to preserve a semblance of profitability for savers and pension funds. vonnie: the folks at goldman sachs changed their call for the next rate change from june to september. journey may a student half -- stuart hoffman. the messaging this week from federal reserve presidents was definitely june is a possibility. is it still a possibility? stuart: i think it is a slim possibility. the job report was mixed. i think it was mixed to positive, but it was not strong enough coming on the yields of the gdp report. we know it is understated but at 0.5, i have been in the june rate camp. i would not rule it out but in light of this report, the fed still will see and report before their mid june meeting so the odds are they will delay until july or maybe september. i still think the case is there as the fed presidents said earlier. the fed made -- may need a little more signs of acceleratio

james bullard of the u.s. that here, glennd also stevens will speak to an audience in sydney.ts will be watching both of those statements closely to see when rates might go up in the u.s. and the possibility of a cut here in australia. ♪ emily: welcome back to "bloomberg west." facebook has sent a response to u.s. senator john soon, who complain about the controversy surrounding the trending topics section. facebook says they have conducted an investigation into what happened with trending topics. they show that investigation showed no evidence of systematic political bias. allege thatts facebook d prioritized conservative leaning news stories. facebook says they can't fully exclude possible unintentional bias, but they showed no systematic bias as a result of their investigation. they are adding some new rules and oversight around trending topics. we will continue to bring you any more updates as we get them. facebook coming out and saying that, officially, as their investigation showed, there was no evidence of systematic political bias. to another story we're following. lon

we further from olin and stan and stan-- bullard fisher. they all seem to get it.y should be raising interest rates in order to preserve a semblance of profitability for pension funds, insurance companies and the like. >> the more you read the details, the more solid the report becomes. i think this report is a harbinger of what is to come in the job market. 160,000 job growth is solid job growth. wage growth and 2.5% is good. if you look at aggregate hours, it was a .8% which is the strongest since march 2014. thef you're wondering what fed might make of this latest signal, stick around with her interview with san francisco fed president john williams later in the program. we will have an extended roundup of the week's earnings report. you are watching "bloomberg best ." ♪ ♪ "bloomberg best. this is" -- this is "bloomberg best." major news from companies like google. let's begin with the central bank decision that took many people by surprise. aussie dollar taking a tumble. fresh record lows. atunaffected move aimed countering inflation. everyone started thinking.

brian bullard was putting up one of the signs a week ago at the entrance to the trail when he noticed he wasn't alone. >> is this a joke? it watched me the entire time while i was putting this up. >> reporter: more more coyotes are appearing in the marin headlands -- marin headlands. they are migrating to san francisco where there have been recent attacks. this toxin jasmine barely escaped coyote attack in september. >> i heard screaming. she started screaming. we got around and i saw her hanging out of the coyotes mouth -- coyote's mouth. >> they are acting more territorial. they typically breed of february. this is a professional.walker and wanted to make sure that other hikers got a heads up. >> it's important for people to know that they are coyotes here in the bone to be aware. you should be nervous. >> you should try to scare them away. >> coyote, move. coyote, move! yell really loud. >> reporter: experts a of the pack feels its numbers are threatened, it can lead to a feeding frenzy -- breeding frenzy. >> they are just trying to keep -- take care of their own. >> reporter: trap

louis fed president james bullard speaking this morning.liams enjoys the power lunch. bob dahl, great to see you. >> thanks, becky. >> we'll talk about the fed first and maybe earnings. the fed is a key. we just saw a lousy adp report yesterday. lowest in three years or something. a bad or good report on the jobs report what's the feeling? >> the adp report suggests not as good of a number as we have seen but it still won't be a bad number. we've spoiled with the 200,000 per month. my guess for this year as a whole is 175 per month. to me a 150 would not be disa disappointing at all. >> on an economic respondefront >> the fed, they talk too much. in my opinion. they need to move rates higher. they want to, and if things are quiet overseas i think they will in june or july and then maybe again in december if the data is good enough. and i hope it is. that would be good news for everybody. >> janet yellen has been shockingly dovish. the last time she spoke. not much change from that with the last statement from the flmc. >> no question. part

bullard and powell are speaking today. in terms of earns.r general, dollar tree and abercrombie & fitch. >> shares of takata surging after the u.s. private equity group kkr reportedly taking a 60% stake in the company to haep it restructure. as they face billion in cost due to the recall of its faulty parts. >> 20% jump but even on a year to date chart it was the tiniest little blip of improvement. >> hp, inc. reporting better than expected second quarter profits as cost cutting offset a drop in revenue amid weak demand for pcs and computers. not turning in quite the performance that hp enterprise did the day before. costco's third quarter profit beat forecast but revenues missed. the operator reporting flat same store sales for the first time in six years. analysts say a pull back in spending by high income consumers do w.h.o. do make up costco's core customer base led to weaker sales in april. stock is flat. moving lower the past few weeks. pch is reporting better than expected first quarter results. the ceo says he's pleased with the resu

yellen next friday, bullard two times next week. >> i don't know. bullard wants slower, about lower oil prices and it went the other way. why do they have to talk? >> why do they have to talk? i don't recall -- then again the world we live in right now is one of endless information coming at you in so many different ways, some of it true, some not true. >> well, they might as well tweet. >> they might as well tweet. that's where we'll get, i guess. we'll all be trying to figure out in 140 characters. >> they do not need to talk. because they all talk we have what we have. they don't care about the stock market, but the money coming out of the stock market is directly related to the fact no one knows what their doing. >> so you say they need to pull guidance, pull monthly retail sale -- >> no -- retail? i just want them to talk and the rest of them to say i'll see ya and let yellen talk. i was once in training camp where an offensive line coach deviated one little bit from the head coach, that never happened again. these are offensive line coaches. t

jim bullard is speaking in china. monitor the comments and bring you the highlights. >>> and still using this, your money, your vote. a new poll finds the race for the white house narrowing to a dead heat. but you wouldn't find that out in the first 219 words of the washington post story. it's monday, may 23, 2016. and "squawk box" begins right now. >> live from new york where business never sleeps, this is "squawk box." >> good morning, everybody. welcome to "squawk box" on cnbc. i'm becky quick along with joe kernan and andrew ross sorkin. the dow was down for the week but the s&p was slightly higher and the nasdaq saw a bit of a rally last week. you can see the futures are under pressure with the dow futures down by about 22 points below fair value. s&p futures off by 2.5. and the nasdaq down 5.5. >>> overnight in asia you saw green arrows across the board. overnight we saw better news out of japan and hang seng. the market closed for japan down half a percent. the hang seng down .25%. the shanghai was up .60%. che

james bullard tells cnbc it's still too early to call. >> obviously we've tried to be data dependent.'s any reason to prejudge the june meeting at this point. we can wait until we get to the meeting, see what the data say and try to make a good decision there. i think on the issue of press conferences, we have made many moves over the years without press conferences. so i think you could make a move without a press conference in this circumstance. >> at this point, whether the fed hikes or not in june, has the fed boxed itself in. peter schiff is the president and ceo . why do you say the fed might not raise at all? >> well, i still think the odds favor another punt. and they said they were data dependent. if you actually look at the data that's come out since the last fomc meeting, it was those minutes that suggested the rate hike. obviously the jobs data has been worse. most of the economic data, including most of the economic data we got this week was well below expectations. i don't see a second quarter rebound. that was contingent that the fed said, if the economy improves and jo

liz: todd, you had james bullard coming out and saying if you leave rates too low for too long, you withch instability perhaps for the system. i don't know why they're just saying that now. you had john williams of san francisco saying get ready for either june or july, the j months as we like to call them around here. what do you expect from the fed as we wait for janet yellen to speak? that's on friday. >> yeah, i think there's a couple things here, liz. ten-year yields are back where they were when the fed released the minutes. the real loser here is gold, and some of it feeding into oil as well. dollar-based commodities. i think the federal reserve is telling you what it wants, and it wants higher rates, and it wants to tell you the economy's strong, but it can't prove that. and i think come june when we don't get a raised rate indication from the fed on a possibility of just pushing it down the line a little further, i think the market finally caves and gives you a december rate hike, but that's about it. that's, basically, all i see on the forward guidance. liz: luke, what do you s

james bullard believes the market is getting ready for further tight anything. >> i sense that the markets are getting ready for a possible increase globally. and that this is not too surprising given our liftoff in december and the policy of the committee, which has been to try to normalize rates slowly and gradually over time. so my idea is that if all goes well, this will come off very smoothly. >> the chief strategist is the head of research of ged fed. i think the prices have done pretty well considering. what do you think is going on here? >> been there, done that. in the view of many messes, this is not something that left the horror attached to it. so they know how this is going about. this is not tightening that we'll see very soon. this is very gradual and cautious. every once in a while a rate hike is on the table. although we don't think it's necessary, we'll probably have a rate hike before summer. which is not to interfere with the hot space of the election. >> you made a note, christian, that if you look at the u.s. bullish sentiment, it's back down to the lows of 2008. in t

. >> and speaking next week, bullard and parker, and then yellin at harvard. over to headquarters and melissa lee at the half. ♪ >>> thank you very much, carl. welcome to the "halftime report" i'm melissa lee in for scott wapner, and the what's old is new again. for the hour, steve weiss, jeb lebenthal and jon and pete najarian. and now, leading the way is cisco and qualcomm and others outperforming, and this is your bailiwick, and these are the value names? >> yes, i like the names, cisco, intel and qualcomm are ones that we own, and they are nicely yielding stocks with multiples of 11 to 13 and depending which one you are looking at, and is cisco with the 3.5% yield, and intel is the same, and qualcomm with the 4.5% yield, but we have talked about it before, is old new? but looking at a name like qualcomm, and in particular, you are seeing the the breakout that you have not seen this year, and this time last year in the high 60s and now in the low 50s, but i believe it can get back to the high 60s with the breakout on the chart. >> and now, i will throw in t

to me, i think -- >> i'm just saying, why is the fed in front of us every sing -- whether it's bullard or whomever telling us, look, the economy looks great. that was a quote from just the other day. everybody's gaming the system in some way to tell es they want to raise the rates. >> i tell you, i think the best possible scenario is to remain hawkish in their stance. talk the way they need to talk. and if the market doesn't crater, then you have a situation where maybe they're ready to do it. i don't think they'll do it in june. and i think it will be unlikely in july. and you get to the election. you may have the second rate increase in ten years happen in december. the second one that happens. to me, i just don't think that you have to trade it right here. if you look at how fed fund futures have been whipping around. at the last month they were at 6%. 34% late last week. now at 24%. i suspect we'll see -- >> what in july? >> july is about 54%. >> in june or july, maybe brex is the issue. >> june 23, we'll know. >> then we'll know. so june, july, i think that the bonds are sort of t

. >> and even though bullard told cnbc that it is not set in stone. >> well, you can't say it is setone, because you can't front and run. >> and he is still looking at the 2 d-- at the data. >> well, it is market dependent. i can't tell you if the first leg is up or down, and the market can handle it. >> but, steve, if we are not getting the massive crude oil bankruptcies and the price buys the companies time, we won't have the jump on the route that everybody is talking about and get through the june rate hike, and brexit, and what is next negative catalyst and that is where people say, i'm done about all of these things that we have been talking about for a year, and move on to pick the stocks. >> well, 140 energy bankruptcies so far, and lot of the small companies around the negative is the valuation, and the trees don't grow to the sky. so you have declining earnings, and increasing multiple and that does not work, and the negative, of course, the big negative, and the mother of all negatives is china devaluing, because that is going to make the dollar stronger. >> and the uncert

. >> and speaking next week, bullard and parker, and then yellin at harvard.s and melissa lee at the half. ♪ >>> thank you very much, carl. welcome to the "halftime report" i'm melissa lee in for scott wapner, and the what's old is new again. for the hour, steve weiss, jeb lebenthal and jon and pete najarian. and now, leading the way is cisco and qualcomm and others outperforming, and this is your bailiwick, and these are the value names? >> yes, i like the names, cisco,

louis fed president james bullard on the monetary financial institutions forum in singapore at 10 past time:10 a.m. u.k. then russia will update us on its gold and foreign exchange reserves. there is a look at your daily calendar today. right now we are joined in london by strategist richard jones. a pmi junkie.re where do you see pmi figures today? release outhad the of the u.s. yesterday so we had manufacturing at the beginning of the week which was looking a bit shaky. let's see what the services numbers are because, obviously, this is more important and those are very disappointing as well. pmi is below u.k. pmi and below european pmi. we know that br-exit is weighing down on the u.k. and it has been tracking sideways for quite a while. the reason it's a big problem is that it really leaves gdp and gives us a hint towards where the going. if this trend continues i think it will way down forever. guy: if you had to guess -- matt, go ahead? matt: we are still above 50 and i wonder, richard. the trend is downward. do you expect a contraction? richard: direction of travel looking from

all of the different, you know the things that we hear every single day, and bullard is the most recent but all of it is pointing to the idea that probably janet is leaning in the same direction right now. >> and ben, the whole premise of the conversation is to try to get ahead of that and if in fact it happens tomorrow, how do we get ahead of it? the financials are going to be doing better, and the banks are the best performerers since the february 11th bottom. >> and so did the 10-year yield bottom, and so it is not just the stocks, and to that point the market is sniffing it out, and the idea of a dovish hike, et cetera, et cetera, it is foolish, but they can come out to say, and we are in no rush to do the third hike. they do it all of the time. i don't understand why people feel like the market has not already gotten ready for this. >> and the whole host of people like dock who did not think, and continue to think that there no chance to go in june. so the risk is -- >> no chance? >> by the way, i never said no chance. i did not say no chance, i said that the ma jjority of, and tha

louis fed president den bullard is speaking this morning on strong jobs, actual inflation and waning global weakness. however, he points out two reasons against a hike. weak gdp numbers and then inflation expectations. so he doesn't say which view is more correct. but i quickly deduce he gave three to do it and two not to do it. on a ben franklin close that would win. there's no way these device are winners. >> you are baiting them, you're tempting them. >> the fact is they have feet of clay. they will never do it in june. >> i bet they do it in july. >> that's what they are telling us. the markets are still only figuring in 30% chance in june. it is much more likely because of the brexit potential they will hold up until july. >>> a dead heat between hillary clinton and trump with just five months to go before the general election. we'll break it down when "squawk box" returns in just a moment. ♪ for decades, investors have used a 60/40 stock and bond model, with little in alternatives. yet alternatives can tap opportunities that traditional assets can't. and even though they're cal

and james bullard delivers a presentation to the official monetary institution for him and singapore.hat is at 10 past 11:00 u.k. time. and we get u.s. durable good nor numbers, suggesting they will be more interesting than normal giving the strength of the data coming out of the u.s. right now. and half an hour later, we will get russia updating us on the gold and foreign exchange. of next on the program, the recipe for a rate hike, as said president kaplan says the u.s. job market and job growth are rising ingredient for the move. more on that. ♪ anna: welcome back. if you are watching countdown. live from london, 6:19. 7:19 in frankfurt and paris. here is selina wang. takata surges in tokyo trading, at the nikkei newspaper reports that private equity firms may take control of the company. earlier, they said they would retain investment in the firm. a spokeswoman for the embattled airbag maker said she cannot comment immediately. at&t as made a bid for yahoo!, intending to acquire the company for internet business. that is according to people familiar with the matter. it had previou

bullard, korea, james and the bank of korea's lee talking this morning, some downward pressure comingrom some of those export stocks in korea. haventinue to see the won its fx there. australia mining stocks weighing on the asx 200. on the londongher exchange on friday, but quite a bit of weakness coming through from those big mining players. the crude price giving support to energy players. up by 4/10 of 1%, $49.53. have a look at the gold price, particularly in australia. 1%, itswn six tens of ninth session of losses. a long streak of losses for that safe haven gold. the japanese yen also coming under pressure, so investors seem to be putting money into more risky assets. .5%.ollar-yen down by that is now at its weakest level in a month, so getting a boost to japanese equities. haidi: recapping that earlier news that broke, change at the top of noble group. the ceo has quit. his resignation has been excepted. let's get over to singapore and our southeast asian correspondent. noble never far from the headlines what is happening? development, the resignation of the ceo. no details have

>> james bullard was very worried about a complete collapse oil off the table at $50, we don't have aanks that were really kind of underreserved if oil went down to 20. so i like this. it's going to make it so the banks aren't going to have as many criticized loans, which is good. because we need the bank group to work well. it's been the laggard, the last laggard now is transports. and i've been working on them. the numbers aren't coming through there. that is going to be a problem. >> thanks, jim. >> okay, thank you guys. >> coming up, some final thoughts -- you're okay, aren't you? >> i'm fine. not my final -- >> all right. all right. we'll get some final thoughts for today from mario. we'll get his take on the economy and more. "squawk box" will be right back. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fid

bullard said that the markets seem to be well prepared for a summer interest rate hike. love traders they're such babies. you think they've been clear enough that maybe there's one coming in june or july? do you think everybody's ready now, they got out some of the bad trades that might go wrong or something? >> indicating a 30%, to 35% chance in june to 60% -- >> eat your food, eat your food. we coddle. all right. here comes the airplane. here comes the airplane. open up. we coddle these people, don't we? >> this time, i think they've been pretty transparent. >> god forbid, we've got to -- now, they're moving it over. just two cameras. >> you are so smooth. >> yeah. >> it's me. let's tell you about new developments in the drama over sumner redstone's media empire. viacom's directors vowing on monday they are not going without a fight. in a letter to shareholders, the six independent share shoholdery they plan to contest any battle. they believe sumner redstone is legally competent to act on his free will. a letter comes from redstone issue bd his spokesman who said he w

more dovish than some of the governors and presidents, but there are presidents and governors -- bullardo i think are beginning to understand what we just talked about in terms of effect of low interest rates on the savings pool. erik: and kaplan as well from the dallas fed, arguing the same thing. >> i think so. >> that the fed, sooner than later has to make a move. bill: right. >> those are the arguments in favor of a hike in june. what, if any, arguments do you find persuasive against a hike in june? bill: it is the question of trying to answer what the appropriate neutral interest rate is. so some would argue that where we are now, close to zero, and where other central banks are, in many cases negative, is the appropriate rate in a situation where aggregate demand and global demand is insufficient, which has really been a condition for 10, 15, 20 years. erik: and that holds some water with you? bill: oh, it does. ♪ david: where do you think rates should be at this juncture? alan: if we lived in an abstract environment where we did not have to worry about the past, i would say at thi

. $41.29.ade up 0.5%, and the korean won, we have james bullard talking in seoul today. 1179.16. speaking in seoul as well. watch out for the wan. the bank of japan a little down, so that will be a good news for japanese equities as well. also a big look ahead for japan. we have more from new york. the week ahead on wall street starts on tuesday after a three-day holiday weekend where markets will be closed on monday. they will probably be a big focus on the economy and any economic data that hit the tape in the upcoming week, as the red interest rate hike looms. a big jobs report out this week will show u.s. unemployment increased -- employment increased around 150,000 jobs in may. this will show a stabilization of the job growth. u.s. consumer spending probably accelerated in april while american manufacturing barely expanded, and that is it with other data out forecast again to show. we will hear from a couple of companies. volkswagen has been in the spotlight recently. u.s. medical device each on it and others releasing data along with canada's major banks. and shareholders i

louis fed john bullard and thursday jerome powell and flid, janet yellen herself will be speaking ate she'll be receiving an award. all three are voting members of the fo 1c this time around. aisle throw in one more here. we're anticipating what could be one of the biggest ipos of the year if it comes to fruition next week. this is u.s. foods, which would be the second biggest distributor in the united states. they're talking a $21 to $24 price range. if it ranges around there, it would be around a billion dollars. totally $5 billion. if it sticks to that, kelly, guys, it would be the second biggest ipo so far this year and the single biggest nonreal estate envestment trust. back over to you guys. >> i think it's funny, it looks like "us weekly," not us foods. >> antem, america's next model. >> those types of deals, they know what they should trade for, knows what they're worth. i don't expect it to have a huge pop or drop. >> guy, what are you going to be watching? >> tiffany's -- well, there are a lot of things next week not to mention dominic chu's unbelievable reporting from the

louis's bullard saying a tight labor market and waning global weakness, weak gdp numbers and muted inflationectations support the case against a rate hike. net-net, and we're going to get a lot more leading up to yellen on friday, they continue to lean hawkish, jim, almost all of them. >> i wonder whether because the market is not down that much if what's going on here is they're softening for june by saying, listen, two to three, two to three. that really does make june feel more foregone. we've been hit -- the stocks that need a weaker dollar have been acting terribly since may 10. and that's been the softening. but the fact is that the s&p was good last week. so it's making people feel emboldened, that we're ready to handle what comes. >> because the s&p broke that three-week losing streak. >> i think it got oversold, but i think also we want to hear yellen on friday. >> at harvard. >> at harvard. >> radcliff day. >> they kept radcliff, isn't that something? >> nice. >> by the way les moonves key speaker -- >> he's probably been on the phone with his bankers too. everybody holding on. >>

louis fed president jim bullard told cnbc about a potential june hike. >> obviously we've tried to beata dependent, and i don't think there's any reason to prejudge the june meeting at this point. we can wait until we get to the meeting, see what the data say and try to make a good decision there. i think on the issue of press conferences we have made many moves over the years without press conferences, so i think you could make a move without a press conference in this circumstance. the labor market data, as i said, if you just took your signal from that, we'd definitely move, i think. >> as a reminder, june is scheduled to have a presser, july is not. says we're at or beyond full employment, jim. >> right. now, he had wavered last time because he felt if oil went to 20 then he would be a lot less willing to hike. obviously oil went the opposite way, so i think he goes the opposite way. and i think he's being very considered, making good judgments. yeah, if the numbers continue to be this strong, yesterday's number from toll brothers in keeping with the housing data really awesome. t

jim bullard spoke in beijing earlier. >> the u.s. labor market looks very strong. definite in favor of the fomc view that you would have a gradual normalization of the u.s. interest rates. looked like an interesting seminar. janet yellen will be speaking twice over the next couple of weeks. let's bring in a chief market strategist. welcome to the program. the bond market recalibrate's expectation for moving jan. does it change things around the world? >> a little bit in that market was saying there would not the a move even though the fed even before last week has been signaling there would be a move. in my world, i don't think 1/4 of a point move in june or july or any other time as a game changer. i think we are expecting normalization of rates at some point. i am not sure it should be right this minute but it's not the end of the world that is. vonnie: it would not be a game changer for the u.s. economy but it could potentially be a game changer for another economy. inwe have gone through this august leading into a potential september rate hike. we got that and

we have heard from bullard, from stanley fischer, from williams in san francisco, and they all seem to get it. they all seem to know that at some point they should be raising interest rates in order to preserve some semblance of profitability for savers and insurance companies and the like. hikes, seeing one to two one certainly, maybe two. the fed has learned it has a window. financial markets, relatively calm. the dollar has depreciated. remember, when the fed looks at whether to hike a market, it looks at the famous equation that bernanke set out in 2010, about benefits, costs, and risks. michael: that is the same message that new york fed president bill dudley has given in an interview in "the new york times" this morning. will tell youan the same thing bill dudley does. if we continue along the same path, do not write off june. is the fed trying to keep their options open, or do they really think they may hike in june? michael: they want to raise rates. they feel the mandate on employment, and now they are starting to see some inflation out there. 160,000ages rise, and jobs is eno

>> jim bullard described it as a trade agreement, and he said -- >> it is. >> he said i'm not really going to have my vote for the federal reserve influenced by the essentially annulment of one party of a multi-party trade agreement. >> thank you. >> thanks, dean. good to have you, brian. good to have you, steve. >> mark your calendar because this thursday will be a huge day for oil. it is the big opec meeting in vienna, austria, and it will be the first meeting in 25 years with a new head oil man for saudi arabia. by the way, he is entering the oil bull ring with a few other countries desperate for a cut or production freeze because they desperately need higher oil prices. we're looking at you, advance la. oil moving higher ahead. let's talk about oil and opec from two sides. what's likely to happen at the meeting and how can you invest around it? everything all right. fifth black swan tripping. stuff going on on set here. lorne, you work with some. biggest names notice industry. what are you and your clients expecting from opec? >> well, it's very, very hard to forecast this. the t