take a look at what caterpillar said today. we've got to get this done as fast as we can. they have significant amount of business that's tied to the uk. they are concerned about that business. do you think when you see industrials like caterpillar saying, we've got to get to the end of this as fast as we possibly can, that people are going to go out and start borrowing? >> back in february, remember the jamie dimon bottom, 53.5. the stock is going back to the low 50s. if he doesn't buy $25 million of stock at that point, i think there was a lot of gains off the february lows. none other than the fact we knew that the stress tests would be okay this week. we know u.s. banks are far less levered than their counterparts in asia and europe. we know that correlations actually go to one when there starts to become financial contagion, crisis fears going on. that's really what could be happening right now. >> the big question is what does this mean for u.s. equities as a whole. carter, what do you think? >> i think the important thing is not about the down side. there's always d

caterpillar seeing session lows right now. caterpillar on track for its the past ninen months. pastgan is estimating exposure to the u.k. is about 5% in terms of sales and ibm seeing its lowest in a month. dent growth. let's first take a look at volatility. haven. spurring the safe about a 45% jump or so. from yesterday's close, we have that about 17 and we are about 24. this jump is its biggest in the past 10 months or so. gold is jumping higher. this is headed for its highest close in the past two years. let's take a look at the u.s. 10 falling.d it was as low as a 1.4% and is still down 17 basis points. >> let me bring you what is happening globally. equity markets closing for the biggest one-day loss 2008. germany off by 6.82%. that is where the pain was felt more acutely. spanish, biggest one-day losses on record. switch up the board, here's the action in the fx market. 30 year low. just amazing moves in this market. the strongest story. what is the boj do next? that is an open question. final board we go. just look at the spread and tension between spain and germany. the

so even though caterpillar's near-term prospects are suboptimal, the yield chasers don't care, you know what they do? buy. the third thing the bulls always want to sea, a weakening dollar. now i've said to you over and over again that as the dollar goes so goes this stock market. with the fed on hold, foreigners are going to be buying far fewer dollars than they would have if we were still staring down the barrel of a rate hike. i know the interest rate you get in typical savings account isn't anything to write home about these days. but suppose you live in europe and you're earning literally zero interest on euros in a german bank? why not buy dollars, stick your money in an american bank? foreign investors will be far more likely to do that if they knew a rate hike was on the horizon, which is why friday's lousy employment report put the big kibosh on any near term appreciation in the dollar. now, with the weaker dollar, our exports are priced more competitively versus their overseas customers and earnings that are worth more when they're translated from foreign currencies back into w

caterpillar is another one. the big industrials. the bigger problem, strong dollar really hurts industrial names like caterpillar, 3m, general electric. most those have been down for the day. caterpillar hasn't rae covered much at all. the bottom line is waiting for the balancing to close. back to you. >> let's send it over to bertha coombs. it's the worst performer. >> it is the worst performer, kelly. 47.20 on the composite. 47.07. watch that into the close. technology has been hit extra hard. apple down 3%. it's a chance especially. there were yesterday's biggest gainers. if you shorted them yesterday, you'd be in fat city. also the nasdaq biotechnology index also giving back. a lot of folks worried about the currency impact about biopharma as they go forward here. but near term, people are really worried as well about some of the cloud players. software managers in particular. take a look at some of these names. juniper, cisco, microsoft. they're all getting crushed. you have to wonder how many have seen delays in signing contra

how does this play out for companies like deere and caterpillar?> this is a case were they can get a farmer to invest something to a tough economic time. when you look at profits and u.s. agriculture, we are seeing them it a 14 year low. farmers are looking at ways to be more efficient. -- precisionure guided technology can save them money by cutting down on the mount of seed and fertilizer and pesticides they need to buy. can make the equipment the farmer can put onto their tractor that allows them to boost their yield and cut their cost in other areas. it makes farmers spend money but they are spending money to save money and approve -- and improve their performance which is a good selling point during eight economic time. typically doers work at night with this new technology? >> farmers have often been people who have been prisoners to the weather and time of day. you have seen tractors with headlights for many years. again, you are right, if you steer it in the dark but you have the technology that knows giveto do and the monitors you the read

. >> reporter: general motors, ford, caterpillar, and j.p. morgan, among a chorus of u.s. companies warning the turmoil could spill over and cost thousands of jobs. just today, the average retirement savings account lost as much as $3,300. another significant outcome here, interest rates are much less likely to go up this year. that means the cost of borrowing is much less likely to get more expensive this year. david? >> that's reassurinreassuring. rebecca, thank you. >>> in the meantime, donald trump is overseas in scotland to open a golf course. he was asked what he thought of the vote, and called it a great thing. and said america is next. tom llamas is in scotland tonight. >> reporter: as brexit shook europe to its core, donald trump choppered in for the re-opening of his golf course with this bold announcement. >> basically, they took back their country. that's a great thing. >> reporter: with bagpipers following him, and staffers wearing red "made turnberry great again" caps, trump spent less than 30 seconds at the top of his speech addressing brexit, then another 1

. >> i had big wins this year on buying some of these blue chip names like caterpillar -- not ibm hasn'tbut somebody like united rental. there have been some extremely oversold, boring names out there that, in my mind, have been absolutely phenomenal to own this year. gary: deirdre, back to technology for a second. if i'm an individual investor, i watch the program, i listen to morris mark, and he says that's where the growth is. how do i protect myself if i want to participate, but i'm worried about a bubble? >> well, maybe we can split the difference here. i mean, there are some public tech companies that are fighting for your living room, right? microsoft -- actually, microsoft just announcing a v.c. unit. but you have microsoft, you also have apple fighting for your living room, and then on the flipside you have amazon that's creating whether it's these ambience sort of personal assistants, i think you just decide what you think is going to be around. amazon, i feel like looks good, feels good, doing a lot with content -- maria: what about valuation on amazonsome.on's a little high -

now our top ten dealers in america are caterpillar dealers. >> i don't know much about tractors, but an incredible machine. >> it can go as slow as a snail and win the kentucky derby. you can drive it easily better than your car. four-wheel drive. >> i'm not that good a driver. i hope so. "mad money's" back after the break. >> thank you very much. >>> it is time! [ buzzer ] >> are you ready? we're going to start with rich. >> caller: jim, how are you doing today? just wanted to showay i love th show and thanls you fk you for y call. with all the diversity in the market, i'm sitting on a bunch of shares . >> you're in good shape. let's go to bill. >> caller: hi, jim, i'm calling in regards to sparks therapeutics, they're involved in gene transfer therapy, neurological diseases. >> they are an incredibly speculative stock. we had a couple biostocks that did some moves. it makes me uneasy, but once they've done secondaries, i feel if anything goes wrong, let's just say -- [ screaming ] joe in new jersey. joe? >> caller: my question is general electric. >> general electric goes with nels

we will show you caterpillar 1.6% up rising five days in a row. it's best winning streak in the past two month. jacobs also rising off of the rising commodities. back to you. tell us about the other asset markets. >> the other commodities you want to take a look at our right here. up 1.6%, the highest since july of last year. ground soes gaining the fed may not raise interest rates. commodities higher across the board. we can see this is down by .5% let's also take a final look at the treasuries with the u.s. 10 down by two basis points 1.7%. betty: thank you so much. theie: let's check headlines. mark crumpton has more from the newsroom. interviewn exclusive with bloomberg politics, donald trump says he is distancing himself from his own fund-raising estimate of $1 billion. the nominee says his campaign does not need much money from the white house and he plans to as aon his star power former reality tv personality to earn free media. as for a search for a running mate, he says he has narrowed his choices to four or five politicians, including fo

sales plunging at caterpillar, the world's largest maker of form and mining equipment.lobal three-month rolling sales are down 12% in april. that is the hardest hit market, down 31% there. they been hurt by falling commodity prices. apple may be closer to opening stores in india. they have lifted a major roadblock in policies that require retailers to by 30% of their components locally before they set up shop. retailers have a so-called grace period of three and -- between three and eight years. an investigation of the former volkswagen ceo after allegations of market manipulations in connection with that the w scandal on cars rigged to cheat on emissions tests. volkswagens plans to submit a $10 billion settlement offer in the united states. that is your bloomberg business flash for this hour. let us take a quick look at the u.s. majors. you can see that the s&p 500 is up 1.25% at 25 points. the dow is up 1.3%, also with the highs of the day. the nasdaq is the leader for the moment, up 1.6%. below 17 -- the vix index is below 17. let's take a look at the nigerian curren

a new toy uses a toy caterpillar.ch move according to how it programs. >> he hits the wall and switches the pieces. >> it is called the coda pillar are and hits stores next month. >> south carolina. these folks are trying to break the world's record for the largest sweet tea. so this yearsomerville residents trying to brew 2400 gallons of the sweet tea to get their title back. >> there is outrage growing in the stanford rape case, and not all of it directed at the perpetrator. million people signed to take the judge out of power. judge ja nine joins me live next. check this out. >> you are talking about a hit or run or anything was it? >> a traffic stop ending in tears, police help a iraq war veteran surprise his mom. >> i don't think it was not a single request that the young a single request that the young when they thought they should westart saving for retirement.le then we asked some older people when they actually did start saving. this gap between when we should start saving and when we actually do is one of th

. >> oh, it does look like a caterpillar. now, i've drawn -- oh, she is pretending. >> as long as she's on my side, she's fine. >> now, what i've stuffed inside of my chito is mac and cheese; this actually a product that's coming to burger king is? >> well, you forgot to do one thing, you forgot to deep fry your caterpillar mac and cheese chito. that's what burger king is selling next week for 2.50. so, think deep fried mac and cheese covered in chitos flavor. >> wow. >> i can't wait. i can't wait. so, mac and cheese, that you can eat, like chips. >> ya? >> couple of things. >> brilliant. >> sound amazing, only selling it for # weeks. pepsi owns frito lay with owns the chitos, i am thinking taco bell, totally invigorated, their sales that launched few years ago there is could be similar. see if it is a hot seller but gating nice reception. >> only eight weeks? >> or, until supplies run out so could be less than eight weeks. >> all right, there is alex's version of the mac and cheese. >> i'm on the bottom. >> that looks better

caterpillar and ford. even j.p. morgan chase c.e.o. writing to the employees that some one to 4,000 jobs may be impacted. financial experts say the retirement fund are long-term investments and should weather the storm in the long run. the other good news traveling from the u.s. to europe could be cheaper in the coming weeks. abc news, new york. jonathan: again, just to emphasize what it did to the market. closing bell, we close down 611 points the dow. 30 companies make up a dow. that is indicator of what is happening. rough day. but reaction is pouring in from all over the world. michelle: it is. u.s. close allies with u.k. and european union members. alison: suzanne kennedy is in the british embassy in northwest d.c. suzanne: british citizens in the united states awoke to major news out of the home country. two bombshells. up with the decision to exit to e.u. the second is resignation of their prime minister. citizens are telling us they stayed up late but many were sleeping when the decision was made and heard the prime minister's

caterpillar hassations in blip. ford has operations there. number of multinational companies names we are familiar with in the united states have operations in europe and britian and this could have a lasting exact on their business. the banks have major operations in europe. london is a major financial center for the entire world. that adds to the uncertainty and unchartered territory. jamie dimon has an e-mail to employees saying you could see in cost employees and jobs overseas in the united kingdom. >> thank you from outside the stock exchange on wall street. the screen is down 458 popes. we have seen the slow can steady drop now up to 462 points. rebecca will stay with us. i will bring in our chief foreign current. you have been on this all night heed us in london. the foundation of this and what we are seeing in the united states, fears of the u.k. of immigration and the economy and fears of terror and driving donald trump's campaign and he is in scotland opening the golf course and at the center of a global headline. he has dad timing

>> caller: the investment conference, the caterpillar stock will likely be half the current value in would you sell it? >> that's called hyperbole and i think although it is not gas as it used to be, it is a great company. if the dollar continues to weaken, they will be wrong about the prognosis. we're not done. frank? >> caller: what's your take on vca? >> we love the animals. we love the buffalo. wets that segment is terrific. one more. chris? >> caller: hi, jim. my question about bank of america. i bought it at 15 and i'm feeling like i'll in the house of pain right now. >> my friend, my friend. recalling $14.42. that's not the house. pain. we know the address well. i tonight care for bank of america though. what can i say? and that hat and that ladies and gentlemen is the conclusion. it's all about understanding patterns. like the mail guy at 3:12pm every day or jerry getting dumped every third tuesday. jerry: every third tuesday. we have pattern recognition technology on any chart plus over 300 customizable studies to help you anticipate potential price movement. there's no way

. >> i was just wondering if you believe the increase in caterpillar is a false move or -- >> no, no,'t. i think every hedge fund brother starts the stock in the mid-50s to 60s. >> that is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. here at the td ameritrade trader group, they work all the time. sup jj, working hard? working 24/7 on mobile trader, rated #1 trading app on the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of other competitors do on desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivatives pricing model, honey? td ameritrade. ...of fixodent plus adhesives. they help your denture hold strong more like natural teeth. and you can eat even tough food. fixodent. strong more like natural teeth. fixodent and forget it. >>> let me give you a peak into the mind of the modern consumer. experience is in. you pay for netflix or a costco membership, but you won't pay retail prices. you don't mind

boeing, caterpillar, j.p. morgan, 28 components have been lower but traders want to wait and see what happens. yesterday we were about 18,000. you had the s&p 500 within points of its all-time record so that's not bad. they will take this in stride. what would be more detrimental would be what happens next. if you start to see other countries considering a vote for a referendum going forward so what happens and that could be the ripple effect and that's a worry but for right now they are just playing the things that are safer such as bold and the treasury. heather: nicole live at the stock exchange, thanks. jon: much more ahead on the fallout from brexit and what the results could possibly mean for elections in this country come november. we are also file following other headlines including the latest on the manhunt underway for whoever shot to sheriff's deputies in los angeles. and another person found dead in the search for a florida family lost at sea.why the coast guard is still holding out hope there coul

but a number of companies have already warned from general motors to ford to caterpillar to jpmorgan that this could cost jobs and business and that will have an impact not only on employees but also the stock market. >> so much noise around us now. it's great to have you to cut through it. thank you, rebecca. really appreciate it. cecilia, over to you. >> that brexit vote is making its way into the presidential race here. donald trump in scotland his own campaign here at home. abc's tom llamas is in aberdeen, scotland, with the story this morning. hey, tom, good morning. >> reporter: cecilia, good morning. donald trump is going to tour another one of his scottish golf properties today and even though he's officially off the campaign trail, he's right in the middle of this major moment for europe, one that he strongly is supporting. this morning with donald trump in scotland, brexit adding the newest twist in the race for president. >> i thought this would be a good thing. you're taking your country back. >> reporter: t for predicting britain would leave the eu but his trip here wasn

but the big winners on dow, boeing, caterpillar up 1.9%. industrials doing well today. you had a stock like nike, up 1.6% and jpmorgan on the financial side up 1.08%. on the other side of the equation the laggard on the dow was home depot, down nearly 2%. loews down by the way down by the same amount -- lowe's. interesting reaction what janet yellen had to say today. the general consensus she was slightly more hawkish than was expected but she tried to throw away the may job report and say, you know what there are signs of strength elsewhere in the economy but chances generally believed here of june rate hike, basically nil. perhaps july. more stronger later in the year. we'll see. dave? melissa: ashley, thanks so much. oil following stocks higher ending just below 50 bucks a barrel. what was the big driver today? >> i think it was janet yellen. it was the fed but a lot of concerns about supply. look what happened in nigeria overnight. the nigerian rebels, nigerian avengers attacked oil pipelines reducing production. their very important export terminal could be shut fo

these higher oil and gas prices have also driven caterpillar back up to $78 from just $69 only a feweeks ago as their equipment is vital for more oil drilling. that stock's driving the shorts crazy. here's the bottom line. the answer is that the rally in both fuels does make sense. higher demand and falling supply will always produce a better price. watch that friday rig count now, though. that's what stands between $50 oil and $60 oil, and right here all these reach stocks need crude to rally to those upper extremes to justify the moves. otherwise, i promise you, you will regret buying middling to worse of breed, and you'll wish you stayed with the strong ones. much more "mad money" ahead. including my take on the deleagued fo deleagud deleaguered foot locker. lace up your cross trainers because i'm taking a close look. then anyone looking at h.p.'s latest earnings? . stocks still up 19% year-to-date. i'll tell you if it's time to do some buying. ever look at the nutrition facts of your favorite foods and wonder if it's even written in engli english? taking our food out of the lab a

caterpillar down 5% at one point. one winner on the day, the only one, walmart. mostly a local stock here in the united states. it's sort of a defense stock because it's a discount store and everybody has to buy something. walmart paid a dividend about 2.3%. we don't know yet where this is going. there's no way to know. for this there's not a road map. economists are telling us this is bad for the global economy. it's bad for the eu. it's bad for great britain. and eventually it's bad for the united states as well. but the britons have decided and we'll see how it place out. it's going to take a couple of years. >> it sure will. shepard we have been listening and watching the president as he continues to speak today. he was very much encouraging the uk to remain as it became known inside the eu arrangement. back in april here's what he had to say about that. >> maybe some point down the line there might be a uk/u.s. trade agreement but it's not going to happen any time soon because our focus is in negotiating with a big bloc of the european union to get a trade a

remember that some of the things that are in there, there are cyclical names in there, lockheed, caterpillar not just utilities. >> carter, great to see you. thank you. >> thank you. >> he's like the rothco of charts. >> aristocrat. >> right, pete? >> i think of him. >> moving on. coming up, the next black swan event. why a potential brexit later this month could cause more pain than investors think. the world's biggest cancer research meeting is under way today. meg terrell is there live. all that, and much more, right after this break. >>> if great britain decides to leave the european union later this market, there's speculation it could cause a market jolt. >> the prognostications of gloom are wildly overdone. i think it's a massive opportunity for uk business. and those who have been -- who are currently very negative about brexit. >> our next guest said it's one of the many things which could contribute to an unpredictable black swan event for the market. ma kayla, welcome to the show. >> thank you. >> it's one of actually four black swans. what are the probabilities of these actually

caterpillar and ford among them even jp morgan chase's ceo writing to employees that some one to 4,000 jobs may be impacted. financial experts say retirement funds long term investments be on should be able to weather this store in the long run. the other good news traveling from the u.s. to europe could be cheaper in the coming weeks. ray ramundiabc news, new york. >> today president barack obama reacted to the vote despite the fact he strongly urged that the uk remain in the european union. today he said the people of britain have spoken. >>> he said he spoke with british prime minister david cameron earlier today. cameron also against the so-called brexit. >> based on our conversation i'm confident that the u can k is committed to an orderly transition out of the eu. we agreed that our economic and financial teams will remain in close contact as we stay focused on ensuring economic growth and financial stability. >> now reactions also coming from the campaign trail today. presumptive republican nominee donald trump was in scotland opening his newest golf course. even though scottish

companies that have large operations in the united kingdom, general motors, ge, ford, caterpillar. they are all going to have to decide, what do they do? how do they expand? what is the effect on their business? >> so all right, thank you very much, richard quest. you're going to be back with me in a couple moments. the big question as richard lays out the market carnage we are seeing around the world, how did this happen? clarissa ward on that for us from london. >> the total number of votes cast in favor of leave was 17,410,742. this means that the uk has voted to leave the european union. >> reporter: britain's historic vote, a seismic event that shook the world. prime minister david cameron, who led the drive to remain in the eu, appeared outside 10 do you think street and said he would resign by october. >> i will do everything i can as prime minister to steady the ship over the coming weeks and months. but i do not think it would be right for me to try to be the captain that steers our country to its next destination. >> reporter: meantime, the winning side celebrated, one of

much harder hit than a simple dow number would indicate, like stocks with international reach, caterpillar, dupont, ge, companies that need to work in britain and all over the globe. the latest out of brussels, the eu is not going to put up with britain's hemming and hawing. it's time for britain to get out, says german chancellor angela merkel. she's not the president of the eu but she is the most powerful person in all of europe. >>> nicola sturgeon of scotland is trying to figure out a very simple question. if scotland breaks up with the united kingdom and becomes its own independent country, can scotland stay part of the eu? scotland of course had its own referendum a while back, whether or not to stay part of great britain, and one of the many reasons that scot voted to stay because because if they left they would not be part of the eu, they'd have to apply to get approval from all 27 countries including great britain. now great britain won't be part of the eu, that changes a lot. >>> volkswagen owners glad to hear the company will pay a record amount of money to solve its software ch

if you look within those industrials, we have caterpillar rising jacobs engineering and analysts saying there are signs of stabilization which should be a positive feed through four dover. railroad stocks are higher, a sort of feedthrough from china and perhaps stronger demand coming from that nation and industrials doing well. all of them trading higher today. alix: commodities soaring and rob materials doing well. julie: oil has been interesting. a build in gasoline and distillates was not expected but crude has held up well after zigzagging around in the wake of that inventories report. gold and copper have been rising and rebounding because we have seen declines for them. they are also helped by the decline in the u.s. dollar, the bloomberg dollar index falling by about .5% today. we continue to see the expectation that the fed will be pushing out its interest rates increases and that has been putting pressure on the dollar recently. alix: let's check again on the bloomberg first word news with mark crumpton in the newsroom. mark: president obama has signaled that the race for the d

and caterpillar. you know, i am tired of that. let me tell you, in north dakota, we have 16 suppliers. these are small businesses. these are people who have done creative things in an environment that you wouldn't think would be successful. and they're suppliers to boeing. what happens when boeing can't do a deal? what happens when boeing moves their operation some place else and the requirement is that those parts be manufactured in that country? what happens? guess what? those 16 manufacturers are injured of the those 16 manufacturers have their lives disrupted through no fault of their own, not because they didn't produce quality product, not because they didn't do everything that they needed to do to be successful. you know, just last week, "the wall street journal" reported that 350 high-paying american manufacturing jobs are headed to canada. that's a direct result in the lapsed -- last reauthorization back in 2015. i think we can clearly expect many more of these stories, many more of these stories. and i would just ask my

exporters from ford to general electric to caterpillar and ultimately taking its toll on the u.s.nomy. and then you just got simply the uncertainty, so many big u.s. corporations have subsidiaries have major operations across europe. some in the uk, some in continental europe. everybody is wondering how this plays out. brianna, one thing we do know, we won't have an answer tomorrow or next week or next month because the new british prime minister won't be in place until september 2nd. so we've got several months of deep uncertainty and that's what you're seeing in the market. >> richard, tell us about some of the mps who were promoting the campaign. they were make certain promises about what the basically the dues to the eu would now be spent on. and it seems like they are back pedaling quickly now in a number of those pledges. is this a big case of promises broken? >> oh, it's a case of -- they join the campaign. they said, million pound spent would be spent on the national health service. and now they say, well maybe some of it will be. but not all of it. and we can't guarantee

the example of caterpillar.dinary machinery ,ompany was about to go broke and because they move the plants 560exico, yes, they opened more jobs in mexico, and because of that, they were more competitive, they were able to lower their prices, build with better quality, and of course their sales went up. and as a consequence, 1500 new jobs were created back again in the united states. if so the idea that opening a plant in mexico necessarily creates layoffs in the united states is totally false. are also mexican plants being built in the united states, plants from bimbo, which is the largest right company in the world, those are mexican investments providing jobs in the united states. this entire relationship is very tight together. i think we require much better understanding of the benefits. that was mexico's tourism secretary enrique daylight madrid. -- enrique de la madrid. alix: senator lewis really galvanized the gun sit-in movement yesterday right around noon, so it has been about 25 hours so far. u.s. spea

britain leaving the european union, would hit their bottom line and their employees from ford to caterpillar to jpmorgan which the ceo this morning, jamie dimon sent out a note to his employees saying that they are a good partner of the united kingdom but that if this goes on, if the uncertainty lasts, it could have an impact on jobs there and previously he said it could impact and cost as many as 1,000 to 4,000 be jos. the president has talked about this, president obama has mentioned the importance as had fed chair janet yellen and that is why it will continue to be a very volatile day today. robin. >> thousand to donald trump speaking out to reporters about the game-changing vote. abc's tom llamas is with him in scotland with more. tom. >> reporter: robin, good morning. donald trump came here to talk about golf and resort turnberry but he lands in the middle of brexit. trump says he predicted this would happen that britain would leave the european union and it's a good thing though they voted in scotland overwhelmingly to stay in. this morning, donald trump is off the campaign trail, way

where do they draw the line because caterpillar went through this with the obama administration, tookiticism even though most of the growth comes out they employees here, even as the business grows outside of america. >> there's nothing wrong with that. keep the focus in the united states of technology. like i said before, i operate my business. i could do with people anywhere in the world with where i am. i don't have to be in india and build an infrastructure they are. charles: fulfillment centers and things like that. >> i do not disagree. you're selling products they need to ship them and have a place where they go. as far as the back of a corporate management, you just add, america is small no, america is big. charles: less than 10% of the world's population. if you're selling gadgets you like to sell it to 5 billion of that of only 300 million. here's my point and this does underscore what donald trump as saying. we should have more aggressive policies in america to force companies to do things like india did with amazon. >> of course. up in the companies in this country give mo

there are companies here in the united states from ford to caterpillar who have said this could be a devastating blow to their business going forward and jesse palm jpmorgan's ceo jamie dimon say we may need to make changes to our european business and said previously it could cost as many as 1,000 to 4,000 jobs, a number of other banks singing a similar song this morning. now, the white house is saying president obama has been briefed. he will continue to follow the matter and expects to speak with prime minister david cameron over the coming day. but i've been talking to a number of wall street veterans and they are telling me this morning more volatility ahead is entered completely uncharted territory. david. >> rebecca, you talk about that note to employees from jamie dimon. what about the investors and retirees across the country, what should they expect with their 401(k)s and retirement savings? >> reporter: that's the big concern. anyone waking up this morning who is hearing this story is going to wonder what does it mean for me? as of now, if you look at where the dow futures

for instance, if you're a company like caterpillar and boeing who sells big-ticket items. a lot of loans aren't going to get done because people are trying to figure out what we can do and can't do with low-cost money and with credit viability. you'll probably see the u.k. lose their credit rating for instance. i think you'll see a flight safety in the united states. so companies like facebook, do they have any exposure to the europe i don't know? none. how about at&t? none. costco. you need to start thinking like that. and companies athat have dividends yields, they've been working for the last five years, they'll probably work for the next 2 or 3 years, because cost of money is going to go lower. you won't get a good money in a ten-year treasury. you won't get good money anywhere except for high-yielding dividends. >> i'm going to reach for my wallet. speaking of money, i have a buck here. the good news, let's talk about traveling. it's a good time to travel. >> yeah, it's summertime and for those who have summer plans, just got very, very happy if you're going to france