so call me at 1-800-743-cnbc. how could something that's been so good for the stock market suddenly be so bad for it? i mean, come on. federal reserve's been buying bonds for ages to keep interest rates down. and we keep hearing that that whole process has been responsible for the bulk of this record-breaking move in the averages. so if ben bernanke says he's going to keep buying bonds as he did today, what the heck is the deal with the stock market, which got absolutely crushed, pummeled, dow plummeting 206 points, s&p nose diving 1.39%, nasdaq plunging 1.12%? if bernanke's staying the course and the course is allegedly moved the stock market up by thousands of dow points, how can the averages get crushed if he continues to do what the bulls want him to? shouldn't the bulls be cheering instead of fearing? no. sorry. it could work for a long time. the stock market loved bernanke's bond buying program for a while. the market loved it because it kept the competition. the interest rates paid by bonds low and not as a

courtney reagan has more at cnbc hq.battle, this one, but why is samsung going to win? >> this is an interesting one, ross, and i think it's still quite far from over. the international trade commissioner rules in favor of samsung in its patent fight with apple, saying apple infringed on technology involving the ability of mobile devices to transmit multiple services simultaneously through 3g wireless networks. the itc is slapping a ban on the import or sale of older apple products. that's the iphone 4, iphone 3gs, ipad 2 and ipad 3g, all made in china. it applies to those devices sold by at&t, the biggest u.s. seller of apple devices when samsung fooi filed its suit in 2011. while the products are more than a year old, some like the iphone 4 remain solid sellers, but it's likely apple will retire the iphone 4 when it releases a new version of the iphone 5 some time later this year. now, the ruling overturns a decision by itc judge james gildea, who ruled in september that apple didn't violate the patents in question. sa

when "60 minutes" on cnbc returns. (watch ticking) icking) >> stahl: the ancient wisdom that there's a sucker born every minute has been especially pertinent given the financial disasters of the past few years. so it's time for a short and painless test. are you sometimes just too trusting? do you invest in things you don't really understand? are you also a bit greedy? then you, too, could be suffering from pigeon fever. pigeons, just so you know, are what conmen call their victims. in the wake of bernard madoff's massive fraud, where the former financier cheated investors out of billions, you might think that investors would be less gullible. if so, think again. prosecutors and regulators tell us that even in this age of skepticism, ponzi schemes like madoff's are thriving. one regulator even calls it ponzimonium. why are there so many pigeons around? in february of 2010, morley safer asked a few people who should know. >> safer: as a student of con games and deception, were you at all surprised by the bernie madoff s

speaking first to cnbc, mario says yes. stay tuned. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ >>> hundreds of business leaders are in chang du china today for the global forum. eunice has been talking to them about challenges of doing business. hi, eunice. >> hi, ross. heavy hitters, as you just mentioned from all over the world in the corporate world ar

. >> kroft: when "60 minutes" on cnbc returns in a moment. >> kroft: when "60 minutes" on cnbc returns in a moment. (watch ticking) why not make the day unforgettable? with two times the points on travel, from taxis to trains. you'll be asking why not, a lot. chase sapphire preferred. there's more to enjoy. [ whirring ] [ dog barks ] i want to treat more dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪ >> kroft: no one at the sec would talk to us on the record about harry markopolos' allegations, but one person who seemed to have had a high opinion of the agency was bernie madoff. >> i'm very close with the regulators. i'm not trying to say that they cant--you know, that what they do is bad. as a matter of fact, my niece just married one. >> kroft: besides his niece's husband, who

cnbc's million dollar homes summer edition coming up next. people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ >>> all day today on cnbc we'll show you what $1 million can buy you across the country. we sent six cnbc reporters to six different real estate markets to check out summer homes and we have super broker and resident expert on residences with us to crown the top house. hello, dolly. good to see you again. this is how it works. we'll show you two side by side million dollar summer homes, thar that is, and to make it more interesting we'll ask the reporters not to ask where the homes are, only dolly knows and she will reveal that. we've had two rounds so far, a million dollar home c

eunice yun, cnbc, beijing. >> thanks, eunice.aordinary story. >>> up next, hot summer homes. the real estate broker to the stars, dolly lenz, will show us which big home offers more bang for the buck. stay with us. [ 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. a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ you'd do that for me? really? yeah, i'd like that. who are you talking to? uh, it's jake from state farm. sounds like a really good deal. jake from state farm at three in the mo

we sent six cnbc reporters to six very different real estate markets.e have super broker and cnbc contributor dolly lenz to crown the top house. dolly, take it away. >> let's go to the videotape. >> let's if to the videotape. >> this is how it works. we'll show you two side by side $1 million summer homes, and to make it more interesting we've asked the reporters not to reveal obviously where the home is located. only dolly knows and she will reveal that after we'll take a look. we have a million dollar home called ocean duplex which beat out rustic retreat in jackson wyoming and then lost to the woodsy retreat and then in round three the woodsy estate took on the porch palace, not to be confused with the porsche palace, the porch palace of galveston, texas and the palace won and now the porch palace goes head to head with the chateau d'eau. >> sitting on just under half an acre the beach front home has a porch on both levels and a three-car garage, an elevator and comes fully furnished. plus, there's a private path down to the beach. >> this traditiona

(watch ticking) >> stahl: welcome to "60 minutes" on cnbc. i'm leslie stahl. in march 2009, bernard madoff pleaded guilty to perpetrating what's believed to be the largest financial fraud in history. he received the maximum sentence for his crime, 150 years in prison. but while madoff is behind bars, there's still much we don't know about the scam which involved, by some accounts, a fraud of more than $50 billion. investigators are still trying to figure out who was involved and where the money went. this edition features some of the people most intimately familiar with madoff's schemes: irving picard, the court-appointed trustee charged with finding the missing money, some of the crooked financier's victims and the man who figured out madoff's crimes out before anyone else, harry markopolos. plus, morley safer examines why, even today, investors are so susceptible to con men. we begin with markopolos. at the beginning of 2009, he sat down with steve kroft for his first television interview. >> kroft: until the end of 2008, harry markopolos was an obscure fina

>> on 60 minutes on cnbc.veling you definitely end up meeting a lot more people but a friend under water is something completely different. i met a turtle friend today so, you don't get that very often. it seemed like it was more than happy to have us in his home. so beautiful. avo: more travel. more options. more personal. whatever you're looking for expedia has more ways to help you find yours. oh, hey mike. what are you up to? oh, just diagramming this accident with my state farm pocket agent app. you can also get a quote and pay your premium with this thing. i thought state farm didn't have all those apps? where did you hear that? the internet. and you believed it? yeah. they can't put anything on the internet that isn't true. where did you hear that? [ both ] the internet. oh look. here comes my date. i met him on the internet. he's a french model. uh, bonjour. [ male announcer ] state farm. more mobile than ever. get to a better state. help the gulf recover, andnt to learn from what happenedg goals: so w

. >> welcome to 60 minutes on cnbc. i'm leslie stahl. in this episode, we'll examine our relationship with work. how much is too much, too little, and who should decide? but before we look at the hours we spend on the job, we'll look at how employers tried to influence the way their workers act off the job. as morley safer reported in 2005, that cigarette or drink at home, that political candidate you supported, even your eating habits are coming under the scrutiny of your employer. if your boss doesn't approve, it might even cost you your job. >> anita epolito and cara stiffler were considered model employees at weyco, an insurance consulting firm outside of lansing, michigan. anita, 14 years on the job, cara, five. they sat side by side, sharing workloads and after work the occasional cigarette. but at a company benefits meeting two years ago, the company president announced... >> "as of january 1, 2005, anyone that has nicotine in their body will be fired." and we sat there like-- like, in awe. my first reaction was privacy. the hair

cnbc's eunice yoon, thank you very much.ur question is simple, is china's tight money policy leading it into a recession? let's bring in michelle caruso-cabrera, cnbc's chief international correspondent. dave goldberg still here with me on the set. you heard eunice. reckless lending because of this tightening in the interbank market, lose control. i don't like the sound of this. why doesn't anybody consider the possibility that china could be going into a recession? >> i think people do consider that it's a good possibility that they could be going into recession. i think that's why you saw the markets stumble so much. remember, shanghai fell 5% overnight because of the commentary that came out from the central bank that said, this tough liquidity stance we're taking is here to stay, not as bad as we saw late last week with the nosebleed levels that we saw that looked apocalyptic. but we're going to rein in that type of lending. and if you rein in lending, you're reining it in. that means less credit in the economy. so the e

we'll talk to cnbc's andrew ross sorkin live. in and this stanley cup final is turning into a classic. blackhawks and bruins go into overtime again. this one a high-scoring thriller. we'll show you who came out on top in game four. this is "way too early." >>> like the nba finals, i think the stanley cup finals are going seven games. i'm brian shactman. thursday, june 20th. we start off with sad news this morning. the entertainment world reeling today on news of the passing of james gandolfini who died unexpectedly while vacationing in italy. with me joe scarborough, host of "morning joe." it's obviously extremely sad because he died so young, but it makes us think again about how he transformed the whole television industry. >> brian, he really did. you look through television history, whether it's "i love lucy" "all in the family," "m.a.s.h.," just a handful of television shows that not only changed television but changed the entertainment culture and changed the american culture. "the sopranos" was one of those few shows. of c

the ftse cnbc global 300 is flat, as you can see.y firmer, up 0.5%. inflation numbers stronger than expected. xetra dax is down 12 points, despite the sentiment indicated was better than expected and the ftse mib is up 0.25%, the cac down. 100-point swings for the dow yesterday at one stage as we look ahead to the fed, which begins its two-day policy meeting today. that decision due tomorrow at 21:2 12:00 eastern. then we have mr. bernanke's press briefing at 2:00 p.m. investors concerned about what will happen. concern dropping up after the "ft" suggests mr. bernanke could begin to taper in the coming months but this in no way means rates will go up. final thought from robert. robert, how do you think we will trade through? what do you think mr. bernanke will say? how do you think we'll trade through it? >> well, we're expecting tapering to kick in over the next four, five, six months, as many people are. i think that may be choppy for equity markets, but we're recommending to clients that they buy into that weakness. >> okay. when

cnbc caught up with him outside the courthouse today.ll show you what he said. >>> the biggest names making big calls at the biggest investor call of the year, delivering alpha. >> i'm going to pose to you that hewlett-packard presents the ultimate -- >> be a part of this opening gathering with keynote speaker jack lew. go to deliveringalpha.com and reserve your spot now. >> i want to apologize in advance that i don't have enough subpoenas for all of you. >> that's july 17th from institutional investor. [ male announcer ] citi is over 200 years old. in that time there've been some good days. and some difficult ones. but, through it all we've persevered, supporting some of the biggest ideas in modern history. so why should our history matter to you? because for more than two centuries, we've been helping ideas move from ambition to achievement. ♪ and the next great idea could be yours. ♪ and the next great idea could be yours. with centurylink visionary cloud a brinfrastructure, and custom communications solutions, your business is more r

. >> welcome to 60 minutes on cnbc. i'm steve kroft. in this episode, we'll look at people who market medical procedures as business ventures, everything from anti-aging treatments to a protocol that claims to end addiction. we'll begin with doctors and pharmacists who are catering to the 78 million aging baby boomers who want to slow that aging process down or to even turn back the clock. the treatments usually include doses of the same performance-enhancing drugs that are now banned by most professional sports-- things like testosterone, dhea, and human growth hormone. as we first reported in 2006, all of this his highly controversial and possibly even illegal, but that's not stopping thousands of doctors from taking up the practice or patients from seeking them out. this is the temple of anti-aging medicine, the cenegenics medical institute of las vegas, nevada. >> let's take a look at it. >> it was founded in 1998 by its chief prophet, dr. alan mintz, who claims to have 12,000 patients around the world, offering hope to anyone who i

that's what jean-claude trichet is telling cnbc, that ben bernanke is doing the right thing, adding that there's only so much that policymakers can do. >> it was the worst since world war ii and perhaps the worst since world war i. >>> and where in the world is edward snowden? the admitted leaker of u.s. government secrets is now believed to be still in russia today as washington is pressing moscow to send him home to face prosecution. >>> and an all-star guest lineup today. the former goldman -- former chairman, excuse me, of goldman sachs asset management, jim o'neill, author of the gloom, boom and doom report and blackstone senior managing director john kosinski all are coming up in the first hour of the show. >>> hi, everybody. welcome to a packed show, and we're not lying when we tell you that we've got some phenomenal guests coming up, so you'll want to stay tuned, at least for the next two hours to catch all these phenomenal interviews, especially given what's taken place in the markets over the last couple sessions. again, a reminder that we saw a huge sell-off, especially toward

welcome to 60 minutes on cnbc. i'm lesley stahl. we'll be exploring the world of science in this episode. later we'll bring you morley safer's story about the human genome patents being awarded to biotech companies and the proprietary control they now have over part of who you are. and then my report on a ubiquitous chemical called phthalates, which is in everything from perfume to children's toys, but which may also be causing birth defects. but first, steve kroft's story on the enormous amount of money being spent to treat people as they approach the end of their lives. how much money? well, in 2009, medicare paid $55 billion for doctor and hospital bills for patients as they approached the last two months of life. to give you some perspective, that's more than the budget for the department of homeland security or the department of education. and as we reported in 2009, most of those bills were paid for by the government with few or no questions asked and with an estimated 30% of the treatments having no meaningful impact. >> ms.

. >> welcome to 60 minutes on cnbc. i'm lesley stahl. investors always hope to be on the ground floor of the next big thing. that's why venture capitalists risk fortunes developing new inventions and new products that sometimes transform how people live. we begin with snus. with cigarette sales falling, the smoking industry is going smokeless, introducing new tobacco products such as snus that are nothing like your granddaddy's chew or dip. companies like r.j. reynolds and phillip morris say this new generation of smokeless products helps tide smokers over when they go places they can't light up anymore because of smoking bans, like restaurants and offices. the smoking rate is half what it was 40 years ago. and as i discovered in april 2010, companies are investing heavily in developing smokeless and in changing its image from hillbilly to hip. think smokeless tobacco, and you probably conjure up something distinctly unappealing: a bulging mouthful of wet, brown goo that's smelly and spitty... [spitting sounds] brown and drooly. not anym

. >> welcome to 60 minutes on cnbc. i'm steve kroft. we live on an increasingly endangered planet, from the glaciers of antarctica to the rich prairie lands of canada. and the ultimate disaster may be financial as well as environmental. later in this episode, scott pelley reports from antarctica on the wide-ranging effects of global warming. and later bob simon has a story from canada on the environmental damage caused by the next great oil rush. but our first story involves a controversial waste product that could have damaging effects on the environment. there are more than 600 coal-fired power plants generating electricity in the u.s., and those plants produce 130 million tons of waste called coal ash. it contains concentrations of mercury, arsenic, lead, and other toxic materials. and as lesley stahl first reported in 2009, when coal ash is dumped into wet ponds--and there are more than 500 of those across the country-- the result can have an enormous health risk on the people living in nearby communities. >> we get about 48%, nearl

. >> welcome to 60 minutes on cnbc. i'm leslie stahl. by most accounts, the financial crash of 2008 pushed the u.s. economy to the brink of collapse. in its aftermath, some of the country's biggest banks received very big bailouts while large numbers of small local banks failed. this edition features a unique inside look at the seizure of a failed bank and a rare interview with one of the men at the center of the 2008 economic crisis and the recovery plan that has followed, the chairman of the board of governors of the federal reserve system, ben bernanke. plus, morley safer asks, "can america afford the lincoln penny?" well, we begin with bernanke. after the crash of '08, bernanke invoked emergency powers, and with unprecedented aggressiveness, he's thrown more than $1 trillion at the crisis. the words of any fed chairman cause fortunes to rise and fall, and so by tradition, chairmen of the fed do not do interviews. that is, until march of 2009 when ben bernanke sat down with scott pelley. >> mr. chairman, i'm gonna start with a questio

. >> welcome to 60 minutes on cnbc. i'm steve kroft. the so-called great recession sparked by the financial crash of 2008 continues to impact the business practices of wall street and the lives of americans on main street. this edition examines the seismic shock of the economic collapse on american families and what many of them believed were their most unshakable investment vehicles: their homes and their 401(k) retirement savings plans. we begin today with the culture of wall street and the role that it played in the crash. if you had to pick someone to write the autopsy report on the wall street financial collapse in 2008, you couldn't do any better than michael lewis. he is one of the country's preeminent nonfiction writers with a knack for turning complicated, mind-numbing material into fascinating yarns. he wrote his first best seller, liar's poker, about his experiences as a young wall street bond trader when he was still in his 20s. another lewis best seller called the big short: inside the doomsday machine was published in marc

. >> welcome to 60 minutes on cnbc. i'm steve kroft. by some estimates, gambling in this country is a nearly $100-billion industry. it attracts everyone from flamboyant businessmen to nefarious conmen. while the odds are heavily stacked against them, for millions of americans, gambling remains enormously popular, even in these hard economic times. in this episode, charlie rose will profile steve wynn, who many credit with the resurgence of the las vegas strip. and later, lesley stahl will take us to the world of internet gambling, which is against the law, yet is thriving in this country. but first, my report about one of the biggest scandals in the history of online gambling. a small group of people managed to cheat players out of more than $20 million, and it would have gone undetected if it hadn't been for the players themselves, who used the internet to root out the corruption. as a joint investigation by 60 minutes and the washington post revealed in 2008, it raises new questions about the integrity and security of the shadowy and

contributor, student of the markets is any loyal cnbc viewer would know.t with you. >> sure. >> we haven't seen a market perform like this since 1999, but the last time we saw double digit gains in the market was 2003. is there a data point that predicts where we'll go from here. there's not many. >> over the years big first halves. it's positive as a year as a whole, but most of the gains get locked in the first half. not a whole lot more gains. we don't expect to double up. >> don't want to pig out. >> it's come a long way. people start taking profits and that's one of the reasons why we're looking for a little bit of pullback here. but again, with the fed in there, we don't expect anything major on the downside. >> we've talked often about how this has been one of the most unloved rallies we've ever seen in the market. >> finally in the first couple of months of 2013 investors started buying equities. you know, the seasonals might be a little different this year. sell in may and go away. i suggest sell in june come back with the harvest moon. i think it

eastern time right here on cnbc on "mad money." the reason we have bagpipes going -- ♪ -- we had miley cyrus -- >> ozzy osbourne. >> yes, and now bagpipes, because aberdeen asset management rang the closing bells. a scottish company. >> the beat on the bottom line for phillips-van heusen. i told you, it's the german pronunciations, they're throwing me off. pretty incredible, given what was on the revenue line. >> bye. it's all gone now. >> let's get to the usa strong companies that generate the bulk of their revenue, banking on the u.s. consumer, continuing to lead the pack. and seema is looking at why usa is still number one for us. hi, seema. >> why worry about currency volatility or the latest crisis in europe? companies that make most of their money here in the united states are doing just fine. the sold in usa index compiled by thompson-reuters continues to outperform, up 17% versus the s&p 500, which is up 13% year-to-date. now, the biggest sold in usa winner is netflix, up nearly 140%, thanks to strong earnings and a growing

let's go to singapore where cnbc's chloe cho has more. >> remember, this market has strength on one big events after another. we have the changing of the leadership at the bank of japan. then coroda unveiled uber policies, they cheered and pumped money into the equity markets. now, a lot of the excitement is gone gone. there is a sense of the party overhang, the critical puzzle is they came out with the 30 arrow, growth measures, ultimately, a sense of reality check of how long it's going to take japan to

that means the cnbc global 300 at the moment is about a third of a percent higher.end was up yesterday only by five points. although it's been four down for european stocks generally. up .5% at the moment. ibex up .5%. lower bond yields in italy and spain. ftse mib underperforming, fairly flat. speaking on cnbc, a take on the market's disappointment with the bank of japan. >> i think the market is rightly questioning the effectiveness of the bank of japan. not the willingness, but the effectiveness. doing so for a number of reasons. first, we're yet to hear about the structural reforms. remember, central bank liquidity is a bridge. you need the destination. that's about structural reform and growth. second, japan is trying to do a lot and can only do that through capturing the -- from other countries. finally the initial conditions are the worst possible. >> this comes as the fed will reportedly try to use next week's policy meeting to provide a soothing voice for investors. chatter about the fed pulling back on the bond buying program has pushed bond yields higher.

and we welcome ace political reporter and cnbc contributor robert costa of the "national review queechlt bill burton, are we being unfair here during the sequester period for a $100 million vacation? >> good evening, larry. first of all, i don't think this is a $100 million vacation. i think those numbers are probably pretty inflated. but second, it's interesting that rick perry was the person you had on before this segment because when rick perry came into your studio i assume that he was surrounded by texas state troopers. he came on a texas plane. this is a trip that's funded by the texas state government. and that's fine because what he's doing is trying to go and get jobs for his state. but what the president is doing is a couple things. one, he's trying to make our case in emerging democracies that american investment is the right way to go. and two, he's showing our american leadership in the world. it's something that only the president can do. only the first lady can do what she's doing. it's something that all presidents have done before them. and the costs associated with it a

welcome to "squawk box" here on cnbc.lle caruso cabrera. andrew ross sorkin is off today. we're going to start things off with the markets. stocks actually starting the month off with a winning session. the dow gaining back much of the losses that it's made on friday. you can see up about 138 points. it's a gain of nearly 1%. but the bears might take note that the blue chip index has been down in seven of the last eight junes. since 2000, the year 2000, june is actually tide with september as the dow's worst month of the year. today, of course, is tuesday. and as joe mentioned, that's been good news for the bulls for the last 20 session necessary a row. the dow has ended higher for the last 20 consecutive tuesdays and that makes the longest streak in history. i think by several weeks. i think we started saying maybe three weeks ago it was the longest winning streak ever. so we'll see what happens today. at this point, if you want to check out the futures, you'll see that at least at this hour, there are some modest red ar

a huge day, a huge interview for michelle and for cnbc with carlos slim, a man who barely speaks. see it on dotcom. >> have a feeling we'll be seeing michelle in istanbul, turkey before too long where the scenes continue into the night. it's now 9:30 in istanbul. they are seven hours aheads of "new york times." >>> roberts and forget cicadas, another terrifying reason for you to bug out this summer. [ kitt ] you know what's impressive? a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ >>> what you're seeing this front of you is a picture we have in our markets today. we're off the lows of the day and off the highs of the day, a wild ride. meantime, continuing to monitor the volatile situation in turkey. let's show you the pictures of what is going on there. we're watching pictures live of taksim square in istanbul. watching tu

let's get more on what dennis gartman had to say when he talked to cnbc.tart to see three handle changes in three days in a row a handle change being one big figure from 95 to 96, three big figure changes is not unprecedented but highly unusual. i haven't seen action like this since days of the russian problems back in '97. these are scary times. these things frighten me. in got to tell you i'm cutting my position way down just because of the volatility being so large. >> dennis gartman on dollar/yen. joining us on the phone is mcneal curry at bank of america merrill lynch. if you can hear me, hopefully can you, very briefly all this volatility. look, what do you see on the technicals? >> well from a technical perspective what we have seen is a continued unwind of the carrie trades in fixed income in much of the foreign exchange space. yen to a lesser extent sterling euro and dollars are becoming well bid as investors exit these relative high yielders of margin fixed income and emerging market foreign exchange and rush back to the safety of the large three

a cnbc exclusive tomorrow evening on cnbc. it's monday, a brand new start. with centurylink visionary cloud infrastructure, and custom communications solutions, your business is more reliable, secure, and agile. fso you're worried about housef fires? stop smoking. manage your wires. watch out for space heaters. clean the chimney. get one of these. cool the romance. and of course, talk to farmers. hi. ♪ we are farmers bum - pa - dum, bum - bum - bum - bum♪ . >>> all right. in her new book meredith whitney sees decades of gains on the horizon for states like texas and oklahoma and others thanks to in part fracing energy revolution, plus low taxes, plus right-to-work laws. she also warns about places like new york, california, arizona, nevada, florida. i'm going to put in illinois. i haven't had a chance to read the book. >> you can put in illinois and new jersey as well. >> because you're worried about the pension fund. we continue now with meredith whitney, author of "fate of the states," that's the name of the book and also our other distinguished members of

most of our cnbc heat map is in the green. fed decision comes down which you can hear right on the show at 2:00 p.m. eastern time. >> indeed you can. here is a very good sign of the times. fewer americans are lighting up cigarettes. about 18% of participants in a 2012 national health survey said they were current smokers. that is down 1% from 2011 and further below the 20% to 21% range that held very steady for seven years before that. the cdc is still analyzing the findings and has not yet concluded why exactly the rate dropped. i'm sure an exdeathly they have the suspicions. nonetheless, do seem to be quite a play proving that i guess addiction is fairly good business model. they are all moving higher in trade today. >> now, fewer smokers means fewer tobacco fields but jane wells has been looking into a new king crop that is on the rise. jane. >> brian. hummus. put that in your pipe and smoke t.actually don't try to smoke t.sabra has more than half the market and shares have grown from 16 million to $800 million. it's a join

cnbc's own bob pisani has been following it for us all day.us your details and your take and good evening. >> good evening. 550-point decline in the dow in two days, larry. i'm calling this a mini perfect storm. several things, three in fact came together to cause most of the problems. first, the fed action causing people to worry about interest rate rises down the road. second, china is trying to reduce liquidity and they're trying to trick their own asset bubble and real estate there and that's causing gyrations in the emerging market world and we have an options exploration tomorrow and the options and futures when the s&p 500 drifted below 1600 in the middle of the day, that was a key option level and i think that hurt the markets as well. take a look at emerging markets and there is a lot of debate going on tonight about to what extent china is hurting. emerging markets and the rest of the world and to what extent the fed is. it's 50/50 at this point and look at china down 4%, the philippines, all of these emerging markets have been hit a

the documentary will air tonight at 9:00 on cnbc.et signs" later today. >> the first big story i did on the journal was on the death of the mcmansion. it turns out that was wishful thinking. >> versailles is such a great symbol of what we thought were the sort of outdated excesses of 2005 and 2006 and here they are, they're back. the mansions are back. the spending is back. the wealthy are back. >> it will be fascinating to watch. >> don't leave quite yet. we have a minute to fill and we're going to use you. we're going to get everything we can out of you. segways to get around. you could go for days in this house i imagine and not see anybody at all. >> well, you know, when it was in construction, i took a tour, and this was before the actual rooms were marked off and built, and it took me almost four hours just to get around the unbuilt inside and another hour just to get around the outside and the outside has all these waterfalls, man made rivers. they're going to have tennis courts. i was walking around an area i thought was the

a cnbc exclusive.conomists tell us what they think of the fed and it's handling of the economy t. results of our special cnbc fed survey ahead. >>> plus, we hit the campus of harvard. ♪ we talk education, innovation and entrepreneurship. the second hour of "squawk box" begins right now. >>> good morning, everybody, welcome back to "squawk box" on cnbc. i'm becky quick and the futures are in the green once again this morning. the dow futures are up 52 points. yesterday the dow was up 109 yesterday. in our headlines this morning, boeing has announced a new larger version of its 787 dreamline were known as the 787-10. it's gotten orders from five customers including united airlines. the new jet will seat up to 330 passengers. >>> also, chrysler is expected to reject the request that it recall 2.7 million older jeep suvs. the government says that the jeeps are at risk of catching fire in rear-end collisions. chrysler contends the vehicles meet the safety standards that were in effect when they were built.

the company's ceo is speaking exclusively to cnbc in his first tv interview taking that top job last week. our chief international correspondent michelle caruso-breyera joins us. michelle? >> i'm going to live this very bright light on television, but i want you to pretend it's inside a mousium or a server farm. if you use water to put out that fire, you're going to ruin the paintings and electronic equipment so 3-m has a new product called no vac. watch this. i'm not going to pour out the liquid. i'm just going to pour out a little bit of the fumes, and the fire goes out. pretty amazing, right? we'll show you more cool stuff from 3-m right after this commercial break. don't move here on "power lunch." a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. i got this. [thinking] is it t

still to come on cnbc, we'll track one u.s. by leaps and bounds in recent years. how is dsw stepping it up on the comeback trail? [ male announcer ] citi is over 200 years old. in that time there've been some good days. and some difficult ones. but, through it all we've persevered, supporting some of the biggest ideas in modern history. so why should our history matter to you? because for more than two centuries, we've been helping ideas move from ambition to achievement. ♪ and the next great idea could be yours. ♪ [ whirring ] [ dog barks ] i want to treat more dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪ >>> continuing to monitor events in turkey following more disturbances and increase of widespread violence last nig

as we've said, cnbc has learned vodaphone has upped its offer.share. and according to the ft, also instructing a rifle bid based on assets instead of cash at about that level. alcatel-lucent shares have rallied this morning. they announceded a new cost cutting strategy. the ceo aiming to cut 1 billion euros more by 2015. and the m&a wheel keeps spinning like a top as dish network stopped chasing sprint. kayla tausche has more details. what's the latest stage of this story? >> well, ross, it seems to change every single day. and as of this morning, the dell board special committee says it will review carl icahn's latest proposal to counter the company's $24 billion buyout effort by michael dell and silver lake partners. icahn reached his stake by nearly $1 billion in stock from dissident shareholder southeastern as is the management or about half the company's holdings. that gives him an 8% stake making him dell's second largest shareholder. icahn is propping they would buy back up to $16 billion in stock if they join his campaign to stop the buyo

"mad money" on cnbc, 6:00 p.m. and 11:00 p.m.>>> as you just heard, gold dropped to 1200 for the first time in 12 years. meltdown, or are they simply delusional? we'll have that coming up. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ vietnam in 1972. [ all ] fort benning, georgia in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection and because usaa's commitment to serve military members, veterans, and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. >>> 1200 for the first time today, but you know what, the gold bugs are not going to be deterred. here's why they think the gold rush is not over. really, jane? really? >> hey, mandy,