>>n l a saunders, thank you so much. >> thank you. >> she's with charles schwab. >>> shares of microsoft meanwhile hit a 52-week high on news that the company is buying the coding website github for $7.5 billion. they hope it will help others create cloud soft wears. it's a way for microsoft to challenge amazon. this deal is similar to past acquisitions. >> what we have done with minecraft, what we have done with linked-in give us confidence that we can, in fact, acquire, grow, have these communities thrive. those will be things we'll look for. it's not that we have speeded up or slow down but we'll go by those three criteria. is it a growing market? can we add value? can we integrate it well? >> investors like the acquisition sending the stock higher in trading today. >>> shares of fellow dow component apple closed at a record. the stock hit that milestone on the first day of the company's developer's conference and at that conference apple addressed a controversial topic surrounding its flagship iphone and that is smartphone addiction. josh listman has the story from san jose. >> it's

billionaires like charles schwab and paul allen and richard devos no longer receive subsidies. it was the case up until 2008 that 60 of the nation's billionaires were receiving farm subsidies. to the extent there has been progress made on farm subsidy reform, that reflects some of the progress that has been made over the last three farm bills. the house bill that failed in the house about a month ago would eliminate that means test for a variety of entities and through a variety of accounting tricks, billionaires like charles schwab and paul allen and richard devos could become eligible for subsidies, which is ridiculous. the other way the house bill goes in the wrong direction is by extending the lineal descendents who could be eligible for subsidies through plc and arc. under current law, the farmer, the farmer's spouse, the farmer's brother, the farmer's sister, the farmer's children, their spouses can all receive up to $125,000 in subsidies regardless of whether they live on the farm. the house bill would expand that circle, that family tree of subsidies to include cousins,

billionaires like charles schwab could once again become eligible for subsidies. which is ridiculous. the other way that the house bill goes in the wrong direction is by extending the lineal descendents who could be eligible for subsidies through plc and arc. under current law the farmer or the farmer spouse or brotheror the farmer sister or adult children or their spouses can all receive up to $125,000 in subsidies regardless of whether they live or work on the farm. the house bill would expand that circle and that family tree of subsidies to now include cousins, nieces and nephews. it's like putting ancestry.com in charge of our subsidy system . by eliminating this means test by now extending the family tree of folks who can receive subsidies to include cousins and nieces and nephews, the house bill goes in the wrong direction. if your review is only farmers who actually need help and who live and work on the farm -- >> the house process was the process. there are many amendments that were not considered. if you could comment on that what you think the senate ne

as result of the adoption of that means test, billionaires like paul schwab come sorry, charles schwab and paul allen and richard devos no longer receive subsidies. it was the case up until 2008 that 50 of the nation's billionaires were receiving farm subsidies. answer to the extent t's been progress made on farm subsidy to reform, that reflects some of the progress that's been made over the last three farm bills. the house built, the bill that failed in house about a month ago, would eliminate that means te a variety of pass-through entities, through a variety of accounting tricks, billionaires like charles schwab and paul allen and richard devold osouga become eligible for subsidies,hich is on its face ridiculous. the other way that the house bill goes in the wrong direction is by extending the linea descendents who could be eligible for subsidies through plc. so under current law the farmer, the farmer spouse, the farmers brother, the farmer sister, the farmers adult children's, their spouses can all receive up to $125,000 in subsidies regardless of whether to live or work on the fa

test for a variety of entities and through a variety of accounting tricks, billionaires like charles schwab and paul allen and richard devos could become eligible for subsidies, which is ridiculous. the other way the house bill goes in the wrong direction is by extending the lineal descendents who could be elible f subsidies through plc and arc. farmer,rrent law, the the farmer's spouse, the farmer's brother, the farmer's sister, the farmer's children, their spouses can all receive up $125,000 in subsidies regardless of whether they live on the farm. the house bill would expand that circle, that family tree of subsidies to include cousins, nieces, and nephews. ancestry.comtting in charge of our farm subsidy system. in both of those ways, by limiting the means test and by extending the family tree of folks who can receive subsidies to include cousins and nieces and nephews, the house bill goes in the wrong direction. if your view is that only farmers who actually need help and to live and work on the farm should be the beneficiary of these farm safety programs. josh: one of the biggest weakn

runway over the next few years a company everybody's heard of but in a very competitive area, charles schwabthe brokerage industry. >> that's right. schwab, asou said, definitely becoming more of a household name. they are really doing very nicely, so in aery short term, certainly, tax cuts are helping them among other companies. other thing that's helping schwab is rising interest rates. most seople think ofchwab as a discount broker. you go and do tradesonline for $5. they are a bank, that's where they are generating a ton of profits and their bank was essentially making nothing lasa nd as rates go up they are makingni ver interest income on massive amounts of cash in their system. we're seeing p rfitslly kind of spike up on the 2018. questi, you know, might be is it a sugar high, does that fall off next year? they have nice growth over the next couple of year to continue. we like the story there and they are taking their dividend up. >> another one. micro chip you say they have two ways to win. one, gross earnings by acquiring smaller semiconductor companies or get acquired. >> thas right

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presented by charles schwab. i feel a great deal of urgency..., and make a difference. at some point, we are going to be able to beat als. because life is amazing. so i am hoping for a cure. i want this, to uh, to be a reality. um, yeah. i mwell, what are youe to take care odoing tomorrow -10am? staff meeting. noon? eating. 3:45? uh, compliance training. 6:30? sam's baseball practice. 8:30? i chi. yeah, so sounds relaxing. i usually make their nches then, and i have a little vegan so wow, you are busy. wouldn't it be great if you had investments that worked as hard as you do? yeah. introducing essential portfolios. the automated investing solution that lets you focus on your life. ♪ ♪ keep your insights from prying eyes, so they won't be used by anyone but you. the ibm cloud. the cloud for smarter business. >>>e now f ridiculous. there's time for the video esque video president trump shows kim jong-un in singapore. it also projected on a jean for reporters. some wondered if it was north korean propaganda. it wasn't. it was real. here are a few of

research from charles schwab says people living in san francisco need more then $4 million to live wealthy. many are living paycheck to pa30% of respondents said the short-term comes to feeling rich in their day-to-day lives, 53% said it meant having time to themselves because that made them fill wealthy. -- feel wealthy. >>> us needles. >> it would be kind of nice to not have to walk down and pass a bunch of needles. >> we will tell how the city of san francisco is responding to increased drug use around many stations. >>> we have the latest example of the housing crutch to get the bay area as the cost to buy a house continues to soar. (sound of footsteps) (sound of car door opening) (car door closes) (sound of engine starting) ♪ ♪ our phones are more than just phones.up! they're pocket-sized personal trainers. last minute gift finders. [phone voice] destination ahead. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet which could save you $400 or more a year. it's a new kind of network designed to save you money.

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. >>> research from charles schwab says people living in san francisco says it takes earning more thaned wealthy, according to the study, 51% of people are living paycheck to paycheck, when asked about their personal definition of wealth, 30% say peace of mind, and in the short term, when it comes to feeling rich, 38% said having time for themselves is what makes them feel wealthy. >>> gamers the spotlight, after they classified can's posted videogame playing as a mental health disorder, having parents worried whether their kids love for videogames is obsessive or normal. what doctor said parent should look out for to identify videogame addiction. >>> -- >> reporter: the world health organization says players can become addicted, the organization is moving to name gaming disorder as a medical condition.>> one can be addicted to really anything. >> reporter: the medical center of aurora, says this is a step in the right direction. >> we are seeing people spend up to 16 hours a day just playing video games, this allows them to reach out for help. speakers some say they are therapeutic or

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. >> all next week presented by charles schwab. >> that's it for us tonight.hanks for watching. -- captions by vitac -- www.vitac.com >> anthony: chances are you haven't been to this place. chances are this is a place you've never seen, other than maybe blurry cell phone videos, old black-and-white newsreels from world war ii. chances are bad things were happening in the footage you saw. myanmar -- after 50 years of nightmare, something unexpected is happening here. and it's pretty incredible. ♪ i took a walk through this beautiful world ♪ ♪ felt the cool rain on my shoulder ♪ ♪ found something good in this beautiful world ♪ ♪ i felt the rain getting colder ♪ ♪ sha, la, la, la, la, la, ♪ sha, la, la, la, la, la, ♪ sha, la, la, la, la, la, ♪ sha, la, la, la, la, >> anthony: in yangon, capital city of myanmar, it's dark. blackouts are frequent with the ancient power grid. what sources of light there are in the street cast an eerie, yellow/orange hue. for almost 100 years under british rule, this was rangoon. in 1948, after helping the british fight off the japan

. >> let's continue the market discussion with chief global investment strategist at charles schwab bigin markets yesterday all this on trade. why has the move in asia been more pronounced? it suggests that china has more to lose in this trade war with the shanghai composites now down about 20% just this year >> china's mainland stock market has had a big move there are a lot of factors i don't think we need to use that as too much of an indication remember the chinese mainland stock market bounces all over the place. hong kong is probably a better place to look. and while the stocks may be down 13% from their peak, they are more in-line with broader emerging markets reflecting concern about the dollar rise which has really been the factor here i point you to the fact that actually the hong kong stock market, most emerging markets were outperforming this year all the way through the middle of april. that is past a lot of the trade concerns that began with whether the washing mans or solar panels through steel and aluminum in march. it was only the mid april rise in the dollar that began

charles schwab is out with a new study about millennials and investing.estment vehicle of choice for 91% of millennial investors going forward will be the etf. now, millennials say that about 40% of their portfolios are currently in etfs. 56say they already replaced all their individual stocks in their portfolios with etfs but going forward, 91% suggest that will be their investment vehicle of choice. if you are blacke vang vanguard, a provider of etfs, that's music to your ears. if you like individualcknot so . see you tomorrow "squawk box" is next a monumental decision. a judge approving the at&t takeover of time warner. what's next? comcast reportedly ready to challenge disney in that bid for fox. >>> it's decision day for the fed. a policy announcement and a news conference by jay powell just hours away it's wednesday, june 13, 2018. finally warm quawk box" begins right now. ♪ >>> live from new york where business never sleeps, this is "squawk box. >>> good morning welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times s

. >> all next week presented by charles schwab. >> that's it for us tonight.s for watching. -- captions by vitac -- www.vitac.com >> anthony: chances are you haven't been to this place. chances are this is a place you've never seen, other than maybe blurry cell phone videos, old black-and-white newsreels from world war ii. chances are bad things were happening in the footage you saw.

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let's debate with joe terranova, josh brown the brothers najarian are here also liz ann sonders, charles schwab chief strategist. pete, let's kick this around, if we're in the sixth inning of the economy as jamie dimon says what does that mean for the bull run? >> i think the extension past, as most of us are thinking in our opinions it was a little farther than that. nonetheless, the fundamental story is something we bring up, scott. we've talked about it time and time again and that's been the right thing. dot fundamentals work. with technology in that space. obviously now with energy with that push, energy again yesterday and today getting a little bit of push if oil can just hold up in these areas i think the energy space continues to rise because it had absolutely not gone up with oil in the manner that it should have you look at names like exxon and chevron. they're moving with oil grinding in this area if oil starts to move higher, they'll accelerate but i think they'll continue to catch up with the lag >> liz ann, you say we're definitely in late cycle what do you make of what nevers bu

presented by charles schwab. . . . . >>> certainly there are a lot of things in this report that not only worry those of us in the administration, but should worry a lot of americans. >> president trump's allies seizing on the report about the hillary clinton e-mail investigation. james comey's actions under scrutiny. is buias in question? >>> and president trump approves tariffs on $50 billion of goods from china. this move is likely to provoke a strong reaction from

and impact on markets let's bring in phil, asset allocation strategist at morgan, jeff, from charles schwabmorning, good to see you. >> good morning. >> we have ross, navarro saying the phone lines are open, german automakers may be trying to bring some peace to this what's in the market if all of this -- if some of this comes off? >> the markets get noisy like this, carl, it's important for us to always examine a base case what's base case, begins and ends with the u.s. economic resiliency what do we know about economic resiliency consumer strong in the second half, retail sales from last week, u.s. gdp this quarter maybe 4%, the strongest in five years. we've been measuring small business confidence for 45 years. second highest reading in consumer confidence. the trade worries are not yet factoring into confidence. but the tales have increased the trade, not really the $50 billion that has been announced, it's 0.3% of gdp, it's the ess kalation and uncertainty that would cause companies to then pull back in their spending, right. that's not there yet jerome powell continues to validate th

presented by charles schwab. a j.d.power dependability award for its midsize car-the chevy malibu. i forgot. chevy also won a j.d. power dependability award for its light-duty truck the chevy silverado. oh, and since the chevy equinox and traverse also won chevy is the only brand to earn the j.d. power dependability award across cars, trucks and suvs-three years in a row. phew. third time's the charm... [ drum roll ] ...emily lapier from ames, iowa. this is emily's third nomination and first win. um...so, just...wow! um, first of all, to my fellow nominees, it is an honor sharing the road with you. and of course, to the progressive snapshot app for giving good drivers the discounts -- no, i have to say it -- for giving good drivers the discounts they deserve. safe driving! >>> we do have some breaking news. president trump talking to the press just moments ago outside the white house. he spoke about a range of topics, including the inspector general report about the fbi's handling of the clinton e-mail investigat

this segment brought to you by charles schwab. your boasting. overselling his achievements.t governor, he skipped many of his duties, saying the job was "so dull," he only shows up to work at the state capitol "like one day a week, tops." the same gavin who, as mayor, "split town" during a massive oil spill and "jetted off.. to hawaii." gavin's not gonna work... as governor >>> "good morning america" is sponsored by coolsculpting. >>> and good morning, it's going to cool down today after we had a pretty hot weekend. >> hey, reggie, hey, everybody. if you're tired of the 90s and 100s, today is the day you get relief. it's not until the breezes kick in until the afternoon hours that it makes it cool to be out on our water or on the coast. look at the everyone thes, 87 in antioch, warming again, but nothing too hot this weekend. >>> taking a like at the roads, we have a serious collision in the richmond area, a motorcycle is down, and that's blocking two lanes, westbound 80 just before you get to carlson boulevard. westbound 80 from highway 4 to the maze all tmost an ho the bay

should investors deal with the volatility let's bring in the senior market strategist and omar, charles schwabestment management cio of equities. karen, would you do anything differently as a result of what's happening with the discussions about trade? >> i don't think so. you have to remember that the u.s. doesn't trade with china, u.s. businesses do, and when i take a look at u.s. businesses, i see earnings projections for the second quarter of 20% growth and that's probably going to be low, so we're going to have another blowout quarter. earnings are continuing to get stronger >> i'm sorry to interrupt you, but on this very point, bob pisani has raised a couple of times that we may actually be getting to the point where the tariffs are becoming real and therefore you will start to see an impact in earnings and that could bring down estimates >> right and if i did see that, then i would breaking news becoecome mt i think when you take a look overall, that hasn't happened yet so it's putting the cart before the horse investors are worried about the trade noise, but the meat and potatoes are r