gun violence is actually hurting the chicago economy. ce overtime, autopsies. $2.5 billion a year. chicago is the city that police literally and figuratively speaking of gun violence if you think the debate is already complicated, and to you hear about a new gun on the market. tracking points is now selling and rifled laser and computer technology. allowing even novice shooters to hit moving targets at which five footbalat least five football fields away. a quick check of trading. stocks are little changed. investor concern over federal stimulus comments. >> she argues the mandate violates religious beliefs. if you have an unused borders gift card, it is worthless. a judge ruled that the bankruptc = chain owes nothing to consumers. borders filed chapter 11 back in february of 2011. they closed their doors for good. >> has been named president and general manager of wgn radio. in 1980 he co-founded a station radio group and prevent and to nearly 465 stations in just a dozen years. he also founded his own media company. as president and gen

>> john yang with the state of the economy from chicago tonight john, thanks. >>> now to the new jersey shore and the return today of two political rivals who happen to get along. you may recall after hurricane sandy thrashed the shore governor chris christie was thrashed by some of his republicans for showing kindness to president obama who was after all leading the recovery charge with federal aid. well they were both back for a tour, a progress report today to declare the shore open for business, and to send the nation greetings from asbury park. our white house correspondent peter alexander was along for all of it. he's with us from there tonight. peter, good evening. >> reporter: hey, brian, good evening to you. beach boys, jersey boys, people will be having fun with this one for a while. the president came got jersey shore for an important message he wanted to get across and what might best be described as the sandy recovery reunion. they looked like old friends, enjoying an extended memorial day weekend down the shore. president obama and governor christie back together again. at

touched all time highs in the trading session..then fell back after the president of the chicago fed said the economy still faces headwinds. gold rallied 31 dollars=--but is still below 1,400 oil up 65 cents. tom boylen of performance trust joins us on this tuesday for an early check on the bond market. good morning to you and we have the fed chair ben bernanke speaking to congress on wednesday. what are you seeing as far as the bond market. what are the bonds telling us? > >the ten year treasury is trading around 195-196 yield, still below 2%. we don't expect much change from bernanke in terms of the tone and what the federal reserve is doing. where you might see some fireworks is in the q &a session. this is a chance for the senate banking committee to ask some tough questions, see if quantitative easing is helping. what's it good for in the short run and also in the long run. so the tone of what the federal reserve is gonna do might be somewhat redundant but as far as the q &a session is what i think most folks in the bond market are gonna be looking forward to. overall we don't see much change go

fed officials, especially charles evans of chicago, very bullish talk on the economy which led some to believe maybe the tapering would begin earlier than later. >> goes to show you how fragile this market is. every time we start talking about the federal reserve tapering it down, pulling it in as far as the stimulus this market semlls off. >> only lost 20 points. it wasn't that scary. >> any talk about the beginning of the end of stimulus is certainly something people focus on. countdown is on for two ceos. jamie dimon and apple ceo tim cook faces a capitol hill grilling about all the cash his company still has abroad. we'll have the latest on both developing stories. >> they keep $100 billion over seas. we'll talk about that. >>> another developing story, the irs scandal. more questions about who knew what and when. former republican governor of mississippi haley barbour will be here. >>> dow jones industrials down just about ten points. we are now negative. but not by much. nasdaq composite and s&p 500. similar chart patterns. the nasdaq, we'll see a decline at just about 2 1/2 poin

fed officials, especially charles evans of chicago, very bullish talk on the economy which led some tove maybe theap

we had the chicago fed earlier come out ahead of the chicago fed and say he thinns the economy's doingat, then the market went down. the head of the st. louis came out and said he thinks the market needs more stimulus, and the market went up. i think tomorrow is really important. bernanke isn't going to say whether he's got a date, whether he's going to stop, but you want to look into what his bogeys are, what's his rate for inflation, unemployment, housing, and then you can get an idea of what their purchase is going to be going forward. but tomorrow i think he's just going to say the fed is here to do whatever it can to continue to spur growth, and that's all you're going to hear. liz: i agree. you've got to watch the fed, watch fox business, you've got to watch doreen, charlie and luetke. coming up later this hour, the chairman ask ceo of a company called continental resources, this is a public hi-traded energy company. oil pipeline based in oklahoma city, we're going to get the latest from the billionaire ceo and chairman harold hamm in a fox business exclusive. and by the way, he

chicago represent an example of class warfare. absolutely i think that they are a sign that an economy that's in trouble is deciding that the best way to handle its difficulties is to reduce the opportunities and the services provided to poor people to working class people not to go after those with the wealth not to go after those who have made the most money and increased their wealth over the last thirty years it is a definite discriminatory way to cope with economic problems at the expense of those most vulnerable so as someone who's studied clash the class issues for more than forty years i mean explain to my audience right now what does it even mean to say that we live in a class society. it means that we have a division in our society that after we finish with our patriotic statements about all being americans some of us are in a position to make an enormous amount of money not out of the work we do but out of the stocks and bonds we own out of the businesses we control out of the money manipulations we can make with our banker friends and so on whereas the average american depends on his or her job having a job earning a dec

economy. >> penny is a businesswoman from chicago. she's a long-time supporter and a key fund-raiser for president obama. forbes estimates her net worth at $1.85 billion. mike has been a top economic adviser at the white house since the president took office. they were classmates in law school and worked together as editors of the harvard law review. >>> turning to business news. good news on the job's front. let's check in with cnbc's julia boorstin live with more on that and the rest of the day's business headlines. julia, good morning. >> good morning to you, keith. stocks are trading higher, erasing yesterday's losses. investors are responding to better than expected jobless claims and the european and central bank cutting the key interest rate. the dow up more than 100 points. the nasdaq up by more than 1%. nearly 40 points. and the s&p 500 also higher by nearly 1%. >>> the labor department says the number of americans seeking unemployment aid is now at its lowest level in more than five years. the drop points to viewer layoffs a

economy and dealing with syria. joining me now, the washington bureau chief for the chicago sun times, lynn.ing. >> reporter: good morning. >> let's start with the red line the president refers to when talking about using chemical weapons, is this going to be the focus of this week? >> reporter: it is. the issue is not just chemical weapons, frankly, it's is obama going to intervene one way or another in a regime or not? that is really the main question. the red line itself, well, i think now it's a matter of time that obama has to do something. >> let's see if he'll back up those words. >>> on the domestic front president obama will be traveling around the country reminding people that he's focusing on the economy and raising minimum wage to $9. seems like good timing and while the stock market is hitting all-time highs. >> reporter: it is, but it still is unclear how these trips will convince republicans to go along with the obama agenda. he's tried this particular method before trying to go over the heads of congress. hasn't always worked sk. >> all right. is the president's agenda right

economy may be improving. ed henry tells us not everyone is optimistic. >> as he heads home to chicago for two-day was fund-raising is a trifekta of news. stock market is soaring most of the year and housing prices are on a tear. >> we believe that the economy is continuing to recover. and continuing to strengthen in the aftermath of the worst recession since the great depression. >> paul volker said current fed chairman ben bernanke is simply asked to do too much to pump up the economy with the quantitative easing that kept interest rates low. >> it is public and private debt and the essence of the various programs, are limited and diminishing all of the time. >> word on the street that the fed's bond buying spree may be ending. the fed cannot keep stimulating the economy. republicans have been hammering another soft spot in the recovery. >> four years of slow job growth is frankly unacceptable. i think we can do a lot better. >> this is also a time of transition for the president's team with allen kruger stepping down as the chairman of the economic advisor. and japes thurman is expected to be nominated in his p

you could go into the chicago fed natural activity index this morning, show that the economy was a littleably than people were expecting. so maybe you have the back draft of more qe, for now, i'd call it more technical. >> timkin options, i think the july options should work for the company to announce whether or not they'll split it. or you can buy some common. >> gamestop, they report on thursday, i know it sounds crazy, down about 2% today, but close to a 50% short interest. and what's been happening over the last couple of months, they're ripping people's face off to the upside, i think gme might do it after the bell on thursday. >> jpmorgan chief jamie dimon in the cross hairs, shareholders getting ready to vote on whether to split the roles of chairman and ceo at the bank's annual meeting tomorrow. wall street keeping a close eye on those results. dimon threatening to quit if the roles are split. let's bring in the equity research analyst at sanford bernstein, brad, welcome back. >> thanks for having me. >> what do you think is going to happen? >> well, we don't know. you know, what

what he wants to do and what he did last night at a fundraiser in chicago is raising money for house democrats, was talk about the economyn office he wants to focus on bringing people together. take a listen. >> to make work pay, attract new businesses to our shore. to make work competitive build a middle class. any opportunities i can do that i will seize them. >> officials at the republican national committee say the president is not just trying to change the subject. what he is doing by trying to elect nancy pelosi as speaker again and raising money for house democrats is not just make sure that they are going to be in power in 2015 to vote for his agenda but also make sure they will be in power and not holding hearings on all of these various controversies that have popped up. take a listen. >> a democrat house would cease to ask any of the appropriate questions about weather it's the need to be asked regarding the irs scandal. the events surrounding benghazi or the issues regarding the department of justice. >> and tomorrow the president here at the white house is holding an event on student loans and the fact that

chicago this morning. >>> it's the new pot economy.e of you ban farming as marijuana becomes legal in colorado. [ female announcer ] made just a little sweeter... because all these whole grains aren't healthy unless you actually eat them ♪ multigrain cheerios. also available in delicious peanut butter. healthy never tasted so sweet. humans. we are beautifully imperfect creatures living in an imperfect world. that's why liberty mutual insurance has your back, offering exclusive products like optional better car replacement, where if your car is totaled, we give you the money to buy one a model year newer. call... and ask an insurance expert about all our benefits today, like our 24/7 support and service, because at liberty mutual insurance, we believe our customers do their best out there in the world, so we do everything we can to be there for them when they need us. plus, you could save hundreds when you switch, up to $423. call... today. liberty mutual insurance -- responsibility. what's your policy? ...and we inspected his brakes fo

economy. here's how "the chicago tribune" tut putt it in an editorial the other day.hey asked the question: glitches or train wreck? and then they said bet on the wreck. wur hurtling -- we're hurtling towards this massive restructuring of the health care insurance and no one is certain of what is going to happen. there will be massive consequences intended and unintended. the president says 90% of the american people have nothing to worry about from the american health care law. he doesn't get it. when i ask groups i meet with in wyoming, i hear nearly 100% of the people say they expect to pay more under the president's health care law, and the care they get, they expect lower quality, less available care as a result of the law. people are very concerned about what's going to happen, and they don't think it's going to be good for them or for their families. a new poll just came out from the kaiser family foundation. it found that only 35% of americans have a favorable view of the president's health care law. it's less popular now than it was when it first passed. it's

chicago. there are huge ghettos university has not been able to create jobs and it has not been able to create startups. it has not been able to create a local economy a result, you have poor people sitting around the university. a lots what happens in of europe. it is hard for some of the european if her -- universities to make the bridge between a lot of government funding and the university and the start up business. the magic of the u.s., the power of the u.s., is a continuous ability to reinvent itself, to generate new jobs, to generate new technologies, to take stuff which did not exist and make it true. of the lot of the rest world follows and also makes itself rich. that is the thing the u.s. will do not just in life sciences at it is doing it right now in robotics, nano tech, the data research. there are so many interesting areas where our kids can work. but it is really important to get our schools right. it is really important to invest not just in the elderly, which is where we are spending most of the money, but to invest in the next generation and the schools and the basic research and infrastructure. >> back to our phone calls. robert

chicago, thank you very much indeed. you're saying that the move hyped the economy's expansion is dirt cheap money. you worried when the 10-year is 2.1%. >> this is very cheap. stuart: do you think it will affect the housing market if the mortgage rates edge up to 4%? >> it's almost nothing. stuart: my first mortgage was 12 1/2%. >> i can remember when we were pushing 18%. i mean, it goes far back. 12% seemed cheap back again. stuart: i remember when a three-month bill yielded 13%. unbelievable. the opening bell is about to clang on wall street and we're looking for 60 point drop in the dow jones industrial average. [bell ringing] most analysts are saying look, it's the 2% yield on the 10-year treasury, that's what's doing it. we'll see how we close today. remember, we closed yesterday at an all-time high. 15-4 was the level. now, we're down 9 in the very, very early going and the only trend is down this wednesday morning. now, smithfield foods. the largest pork processing and producer is bought by a chinese company. smith field has more than 50 brands of processed pork product. and china has a pur

chicago. >> we hope those answers come soon. >>> we turn to the economy now some better than expect td news market this morning. the government just reported that roughly 165,000 jobs. the unemployment dropped 7.5%, a four-year low. >>> but there is some good news for people planning a summer vacation. after years of soaring summer airfares, prices are dropping this year. even for some of those popular destinations including new york, chicago, washington, d.c., and honolulu. >>> and a moving moment here in new york as a soaring symbol of resiliency was raised to new heights. the 20-ton spire that will top the new world trade center has been hoisted to the roof and once in place, the building will become the tallest in the western hemisphere at a symbolic, a fitting 1776 feet. >>> and finally, baseball, at least for one night, went to the dogs in texas. the rangers holding their annual bark in the park event. thank you, lara. as you can see, 43 degrees at first pitch in arlington, texas, in may. >> yeah. >> but the highlight of the first pitch, a friend of the program, norman, the celebrity

americans who believe sequester will harm the economy, line we heard from president over and over is down in 30s now. according to few research, and the chicagobune quoted the polls in totallyic core yates editoriaial against president's cynical games on the faa stuff from which he was forced to back down. >> i am shocked that chicago tribune is criticizing the president. >> they endorsed him! >> they and and have not. back when george w. bush was president, i don't remember republicans screaming about the medicare prescription drug plan. >> you don't? >> i don't. his party voted with him. >> a lot of republicans are going after george w. bush -- >> a lot of republicans may have done that -- >> we had honest fight about spending republicans. >> i -- i. >> okay, bottom line, i will have you back later. both parties have their hand in a mess, they have to dig in deal with this mess. and they are not, they are not, and the world is going to end that is what i'm saying. >> man. neil: hopefully not before the end of the show. >> in the meantime, i'm kidding, six-figure bonous sandy's 6 six-figure bonous sandy's 6 month anniversary, a con ed at od,

looking to diversify and participate in the growth in the economy and get returns that will diversify that portfolio. i think you also look at fed chicago president evans, who's backing away from quantitative easing, or at least hinting that, and basically saying perhaps our policies are already adequate. and i think, you know, here we have a long, slow, sustained recovery, but i think we're also going to have maybe the longest recovery in history, as we go forward. >> all right, rick, you know, with yields on the ten-year, we talked about this year, at a year high here, 215 today, do you feel, do you sense that we're going to start to see a rotation that's been talked about forever out of bonds into stocks? is that what's starting to happen here? >> you know, i really think that what we've seen since early may, and what happened in early may, you had a fed meeting, and of course, you had the better than expected employment report, mostly on the revisions. and i think the combination of those two issues is apparent in yields. i think we're jumping in range, and it's proactively trying to find a new range. but i don't think it's the begi

chicago bridge and iron. take your bow, charles, and make it quick. charles: the global economy sucking up all the energy.ill die, billion-dollar projects, that is what they did. stuart: have to get back to the scandals in washington. the common threat to all of these scandals seems to be this. the federal government is incapable of telling the truth. all rise, judge andrew napolitano is here. >> it is really very troubling. i think this started a couple of weeks ago when the president said in his speech to the graduates at ohio state university, trust us. disregard the people who tell you that the tyrant is around the corner, they do not know what they are talking about. the tire it is an irs that makes decisions based on politics. a tyrant is the state department and the cia conspiring to lie and hide the truth. not for national security purposes which may be arguable. that is the tyrant that is around the corner. stuart: you were on fox news last night. you are on for an hour. what do you make of the president's statement last night. what will it do for his political position? >> i do not think it will

chicago and cleveland were flat. still, all again in the positive annually, so you have to ask, are these price gains driving the economy? well, maybe, maybe not. >> when you look at this, buying and selling existing homes is very nice, we all feel good. it doesn't add anything to gdp. >> blitzer also notes that single family home construction is still very low with most of the gains in multifamily apartments. very few people, he says, are cashing out home equity and spending it. cash flow is flowing into companies that support housing, everything from whirlpool, to ford trucks, big banks, mortgage insurers, and finally even the retailers. >> stocks have been soaring after the new data on housing. rising in may to the highest level in five years. there you see the industrials, the s&p, and the nasdaq with very sweet gains. but after a big move already, can you still find value in this market? jerry castellini is manager, and the president of equity investments at usaa. welcome, gentlemen. jerry, can you characterize a market as healthy if it is so dependent as it seems the markets are today on central bank money? isn't

chicago's o'hare international airport. >> consumer spending is likely to pick up the sheer while government spending declines in a faster rate. according to a survey of business economists, the u.s. economyd records and that sure. that is unchanged from their forecast in february. that part it reflects a more positive view of unemployment. >> toyota is planning a giant increase in production of lithium ion batteries as they prepared to use them in their flagship pre s sedan. toyota's planned a sixfold boost in its use of the batteries. nearly all plugging vehicles the pan on lithium ion batteries. toyota and better partner panasonic will increase lithium ion batteries output capacity to 200,000 units a year. >> traffic in south was connected could be a mess for as much as a week following friday's collision between two trains. that's the left more than 70 people injured. crews are rebuilding some 2,000 ft. of the track as well as overhead wires and signals. connecticut gov. dannel mallory is warning of traffic trouble for several days and says of the stay will dispatch more state troopers and told trucks to respond to car accidents that could come with the crowded roads. look at 'em. liv

are the chicago mercantile exchanges computers rigged to give the mercantile an unfair advantage. >>> plus, the fed sounding this little down beat about this economy. our fed experts will weigh in on where it all means and where the fed and economy may go from here. and after the bell, you will not want to miss this. we'll wait to see what the news feed says on facebook. have the social network's earnings right here. everybody will be watching for that and the market response, coming up on the "closing bell." stay tuned. >>> so no change from the fed today on interest rates. they will continue to buy treasuries, securities to stimulate the economy, sometimes a little more, sometimes a little less. that was kind of new. >> yeah, it was kind of new, but it didn't really say anything. i mean, other than, yes, of course, the economics will dictate it. let's get with our economics reporter, steve liesman now, and on-air editor, rick santelli. also with us is mason slain, president, chairman, and ceo of interactive data. good to see everybody. mason, haven't seen you in forever. what was your take on the fed today? >> they really said nothing new, of co

chicago bear's bear. >> i like that christie pulled the costanza. >> what a difference a year makes. a spike in housing prices have put the u.s. economy on the rebound. home prices jumped nearly 11% from the same time last year. consumer confidence hit its highest level in more than five years in may. up from 69 to more than 6 according to a new industry group that tacks it. more than 200 points the dow has surged at one point on tuesday, it wound up closing more than 100 points. my favorite cnbc reporter becky quick joins me now. good morning, becky. we have chatted many times in which we talked about false positives, the market is doing well, but something the loom in. are we -- i hesitate to say have we turn ed a corner. >> that is what a lot of people think on wall street, chris. this has been a steady drum beat of the market moving higher almost every day. it seems like no matter what happens, good news or bad news, the market tends to beat the steady drum beat higher. i will say there's an exception to this. this morning, we're going to give back most of those gains. looks like the market is going to open down. that is such a dr

what a week it has been between the ism, chicago mpi, adp, the fed and these worries yesterday somehow the economyill in need of more stimulus, not less? >> we have two economies. i will give you them and put it in a pizza. domino's pizza says if you have 10 dominos you have the money to buy all the dominos you want. if you only want to own one domino, no money for you. small business versus large business says it all. >> a lot of discussion today about some technicals, a hanging man candlestick. >> i saw that. tweeted that, carl quintanilla. >> suggesting we're at some sort of top. >> it didn't happen. ding me, it didn't happen. i find these matters to be some what worthless, some what. the hindenburg and dead man walk walki walking. >> hanging man -- >> do they talk about that at sb. there's the opening bell at the top of your screen. ing celebrating its ipo today. ticker signal is what we will talk about at the top. the senior loan fund and the draghi press conference has just concluded. he was just asked about this tweet from pope francis, which reads like this. my thoughts turn to all who are

chicago when it is warmer out they kill people. also that causes economic downturn and men out of work, beat their wives. >> greg: i remember that. >> andrea: everything in book. so in a down economyng prostitution and george bush didn't. i would make the leap. i thought liberal women supports a women's right to be a prostitution. i thought that was good thing, liberals say. >> greg: juan, we spend a lot about global warming which could take the eye off the buafl terror. couldn't you say global warming leads to more terror. >> i will say this whole segment is so convoluted. i have been trying to follow it. if your wife thinks it's okay for you to stay out all night, just warm up the bed with global warming. we have list of things that is blamed on global warming, the death of the ash tree and end of the caribbean coral and eskimos fleeing their village. it weakens the argument but in response to my best friend, 90% of scientists say there is global warming. >> greg: you have been reading beckel's notes. >> imagine that is the truth. >> greg: they never have the second back-up line. what scientists? i got to go someplace else. >> which scientists? >> do you want a list. >> case clo

talking to the traders at the chicago mercantile exchange but i get more of a sense as everyone has said don't fight it. i do think it is a big part of the fact the economy is stronger and that's a good thing. but also it reinforces the notion the economy is better crude is up today the third session in a row the major positive is demand and the same thing for futures and gasoline. nat gas is a big story because the federal government has approved the liquefied natural gas export project products -- applications are out there which could be huge with the positive for nat gas overall but gold is one of the losers down almost $2 and korn? what am i saying? i have so long list. what did i say? coffee. coffee was the loser and one other thing. i forget. is in on the chart? what did i forget? silver. silver also a big loser today. liz: remember when they thought silver was going up but this could be a buying opportunity. >> of all 24 commodities it has done the worst. liz: buying opportunity. a growing list of errors and information leaks then questions about the ability to police the markets they operate. has financial recruiters taking a more aggressive app

chicago. he will attend some dcc fundraisers there. i expect he will talk about the economy. to be highlighting right now. the unemployment rate at 7.5%. a lot of economists believe we are, in fact, in a recovery. but as you know, these controversies that we have been focused on with the irs, the justice and state departments will continue to take up a lot of his time and focus. craig? >> nbc's kristin walker from the white house for us on this memorial day eve. kristin, thank you. >> thank you. >>> folks, this is a story we're really excited to tell you about this sunday afternoon. an inspiring story of a 17-year-old girl who was homeless at one point who overcame all odds to graduate -- not just graduate, graduate at the top of her class. her name is taleesa fierce, and she delivered a powerful speech as valedictorian at her high school last week saying she gained strength from an unusual source. >> and tai was the type that got defeated because every time he got knocked to the ground, he only got stronger. i know i was made stronger. i was homeless. my family slept on mats

economy and budget and other things. >> i got to tell you, i found the poll numbers surprising. i saw 53% approval number and made me wonder if we didn't oversample chicago> republican, that's the issue, 15% of the republicans give the president the benefit of the doubt. >> 15%, that's not. >> we'll take it. >> we'll take it. >> we'll divide the number. >> i want to throw those numbers up. >> i want to throw these numbers up. it is broken down by party. democrats 87% approve, independents 47%, republicans 15%. and i think that's very indicative of where the country is. right now, we are a polarized country, we are a divided country, even the independents are divided. that's when you know we are divided. >> independents are always divided. >> well, they always lean something. right now we have them at 47%, you've got them practically split down the middle. >> well, they don't have to decide anything. >> believe the president's acting on behalf of all americans, not just democrats. >> it's the clinton white house. we're back to the 1990s where the president got into trouble, president clinton did, and he survived it because the opposition overreached and l

live in new york or chicago or any of america's major urban centers maybe it's time to channel your inner johnny appleseed do a whole lot of good for our environment and the economy and planetree. crazy alert you've heard of reaganomics so obama nomics. the wrong nomics on wednesday international lingerie giant triumph international introduced its newest line of products the nomics the wrong according to keiko. a spokesman for the company the multiset is designed to raise awareness about the economic policies of new japanese prime minister shinzo abbay who took office in december wants to raise japan's inflation rate by at least two percent to boost its floundering economy that's pushed up design the mix with broad does some of its own just as shinzo aves policies will inflate prices so too will the new bedroom piece inflate japanese buddhism's. also comes equipped with a little arrow shaped excess. series that you can play around with every time the japanese inflation rate goes up the new economics could be set at a lady because all that talk of curves and models really gets people go. just. the. it's the good the bad of the very very long good how it only ugly

economy thrives over a period like the summer before they make any decisions. but take your lead from the fed chairman, excuse me, the fed president out of chicago, evans -- >> charlesntitative easing. he's now saying, i think we have adequate policy. take your lead from china, who opens up the sovereign wealth fund here in new york to find other diversitied investments other than treasuries, so we can get out and move their portfolio into a more-balanced nature. take those cues and you'll find a few cracks in the fed and a little infighting over how much policy they should continue to have. >> we'll talk to steve tanger next hour, retail outlets. we'll find out what he's saying. it is an uneven economy when you look at the backdrop. he's right in there with retail, which is so important. see you next hour. >> tanger outlets is ringing the closing bell in a few minutes. meanwhile, the ten-year yield went to 213 today, highest we've seen this year, highest going back to april of last year. i know i'm preaching to the choir. >> that's why i thought we would see a classic reversal. low of rally followed by the sell-off. >> yields are going higher, but the stock market

chicago. there are huge ghettos university has not been able to create jobs and it has not been able to create startups. it has not been able to create a local economyas a result, you have poor people sitting around the university. that is what happens in a lot of europe. it is hard for some of the european universities to make the bridge between a lot of government funding and the university and the start up business. the magic of the u.s., the power of the u.s., is a continuous ability to reinvent itself, to generate new jobs, to generate new technologies, to take stuff which did not exist and make it true. a whole lot of the rest of the world follows and also makes itself rich. that is the thing the u.s. will do not just in life sciences at it is doing it right now in robotics, nano tech, the data research. there are so many interesting areas where our kids can work. but it is really important to get our schools right. it is really important to invest not just in the elderly, which is where we are spending most of the money, but to invest in the next generation and the schools and the basic research and infrastructure. >> back to our phone calls.

economy, stocks and your money. the chairman of the fed, set to speak in the chicago fed conference in just a few moments just afterl rings in five minutes and we'll bring that to you live and we'll get market reaction when "squawk on the street" comes back. [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. >> you're watching cnbc's "squawk on the street" live from the financial capital of the world on a friday. the opening bell set to ring in two minutes' time. there's a lot going on and we're waiting for ben bernanke to begin speaking in chicago. live at 9:30 and we expect him to talk for 20 minutes and take q & a for 15 minutes and watching for any sign, guys, of people are worried the fed will do. anything that could get in the way, the bulls would argue, of the rally t

economy to help it grow faster. even greater than we have experienced so far. >> the present is traveling to chicago this afternoon, engaging in the political process -- and we have seen news reports on michelle bachman saying she won't seek a 5th term. >> i came to the briefing room and i can tell you that this subject it not come up. so i don't have a response from the president, i believe that we all wish her well, in her future endeavors. we just heard from a short time ago from the commanding general in southwest afghanistan. given the comment you made earlier, with some of the questions about the fact that when we refer specifically to the afghan the order that by the end of 2014 there will be sufficient gains there. todaynew statements saying that the taliban will not be fully defeated, thus that affect the -- reflect the president's position on that? >> it allows me to remind everyone what the president's policy in afghanistan is. the objective for going into afghanistan, which had been essentially lost by the time the president took office, was to go after those who attacked the united states on september

economy. >> excellent advice, gary. thanks very much for coming in. thanks for all the work that you're doing. we deeply appreciate it. one quick plug. i know you'll be out near chicago ravine ya festival june 13th you'll be performing there? >> yes. i take my band across the world. it's lieutenant dan band, named the band after the character because the military is calling me that all the time. i actually worked at ravinia when i was a kid. now i'll be playing there june 13th. tickets are availae. hope the hometown crowd comes out and sees it. >> i'm sure they will. they're very proud of you in highland park in chicago, indeed throughout the country. gary, this thanks very much. >> thank you. >>> the mystery behind a deadly ambush. was a killer looking for a target or a specific policeman? >>> our next hour, a cruise ships ends vacations cut short. you'll hear from passengers who lived through the latest cruise nightmare. >>> let's go to kentucky where an off-duty police officer is dead, sht during what appears to be a cold-bloodied ambush. right now, police are trying to track down the killer and promising, quote, it's an eye for an eye. what do we know, elena? >>

chicago o'hare international airport. consumer spending is likely to pick up this year while government spending declines at a faster rate. according to a survey of business economists, the u.s. economyear and 3% next year. that is unchanged from their forecast in february. they're more confident on consumer spending and housing market and they were three months ago. that partly reflects a more positive view on unemployment. >> to a yacht is planning a giant increase in production of lithium ion batteries as they prepare to use them in its flagship 3 as saddam. toyota plans a six old blues and its use of the batteries which are substantially it lighter and more powerful than a nickel metal hydride batteries it uses in the current rias. nearly all blood and vehicles depend on lithium ion batteries. toyota and battery partner panasonic will increase lithium ion battery output capacity to 200,000 units a year. traffic and southwest conn could be a mess for as much as a week. palin friday's collision between two trains. the accident left more than 70 injured. now crews are rebuilding some 2,000 ft. of track as well as overhead wires and signals. connecticut gov. danienel mallory is warni

education from the university of chicago, although i got on a train eyepieces -- this was to be a very funny story. actually i had a buddy before it went to the air force economy. i live liberal arts are more important than us math and science binge we seem to be on. the math and science people find themselves on a myers-briggs profiling go do that. some great percentage no doubt. but a functioning democracy is to people who were schooled in the great patterns have emerged over the many generations, hundreds, even thousands of years. i was rad dating a school boy of hers. have some appreciation for that. and found i was one of the ways i could make time, that i can fill the unforgiving minute with the essence of the human condition. i could create. the greeks said there were four wonderful things that make up a good man, city, state, nation again and lousy sense of justice and restraint, quest for wisdom encourage and it's not so much the battlefield courage they were talking about is just the courage to do the right thing in life. well, the greeks were well short of the mark. so i added the fact you are to have a really developed sense of humor and try to fin

chicago fed's annual conference on bank structure and competition. and ben bernanke will be speaking at that conference tomorrow. later this afternoon, we have charles plosser addressing the economy. a lot of things that these fed officials could say. >> i want to take a royalty every time they use tptf. >> too big to fail, too big to fail. >> i would see you over at the table in a moment. >>> facebook is reportedly in talks to acquire waze. the price tag there said to be in the range of $800 million to $11 billion. tech crunch is now saying microsoft is offering $1 billion for the digital assets of nook media. the deal would reportedly leave microsoft with prefrerred units in the nook. and the sha phone is priced at $9 the 9. that's not bad. the company is trying to stop consumers to switching to google's android. particularly emerging markets is the pricing issue there. also, related news there, apple's supplier tegratom says it will increase number of workers in china by up to 40% in the second half of the year. the company is an assembler for the i foed phone and ipad. the news is fueling market speculation that another cheaper iphone is on the way. we've been talking about t

education from the university of chicago, although i got on a train eyepieces -- this was to be a very funny story. actually i had a buddy before it went to the air force economy. i live liberal arts are more important than us math and science binge we seem to be on. the math and science people find themselves on a myers-briggs profiling go do that. some great percentage no doubt. but a functioning democracy is to people who were schooled in the great patterns have emerged over the many generations, hundreds, even thousands of years. i was rad dating a school boy of hers. have some appreciation for that. and found i was one of the ways i could make time, that i can fill the unforgiving minute with the essence of the human condition. i could create. the greeks said there were four wonderful things that make up a good man, city, state, nation again and lousy sense of justice and restraint, quest for wisdom encourage and it's not so much the battlefield courage they were talking about is just the courage to do the right thing in life. well, the greeks were well short of the mark. so i added the fact you are to have a really developed sense of humor and try to fin

chicago. there are huge ghettos university has not been able to create jobs and it has not been able to create startups. it has not been able to create a local economyt, you have poor people sitting around a rich university. that is what happens in a lot of europe. it is hard for some of the european universities to make the bridge between a lot of government funding and the university and the start up business. the magic of the u.s., the power of the u.s., is a continuous ability to reinvent itself, to generate new jobs, to generate new technologies, to take stuff which did not exist and make it true. a whole lot of the rest of the world follows and also makes itself rich. that is the thing the u.s. will do not just in life sciences at it is doing it right now in robotics, nanotech, the data research. there are so many interesting areas where our kids can work. but it is really important to get our schools right. it is really important to invest not just in the elderly, which is where we are spending most of the money, but to invest in the next generation and the schools and the basic research and infrastructure. >> back to our phone calls. robert,

economy. today we get the s&p case-shiller, the richmond fed survey and the dallas fed survey. a second read on first quarter gdp. chicago pmi and consumer sentiment, but also it looks like we are start, some green arrows after strong trading days yesterday in europe. >> and we have some deal news with the long weekend. valiant pharmaceuticals buying bausch & lomb from -- i always confuse that. >> speak for yourself. >> for $8.7 billion in cash. the transaction was unanimously approved by both boards yesterday. i should mention, by the way, warburt pinkus is the private equity firm that took it private in 20307 within $4.5 billion. so this is double that money. they've already taken out about $800 million in a special dividend. so this sa nice payday. >> it was the top, but it wokd out. >> also in the news, joe was mentioning it. astrazeneca is buying heart firm omthera for as much as $443 million. the cardiovascular business is a priority. omthera is a specialist in fish oil derived medicine. astrazeneca is paying $12.7 million a share. is that wrong? >> no. no. $443 million, i don't know if we need to -- we don't need