craig moffett is here, a senior analyst, craig, thanks. is this the apocalypse?s this what it looks like at the beginning here? >> it wasn't our call. all we did was observe something is that i think our clients have seen throughout earnings season, right? which is that the ad numbers were weak on the media side and now you are starting to see really weak affiliate numbers and everybody thought that the affiliate numbers were going to be held up by these ott guys. >> that all of these virtual cable operators over the internet were the salvation of the media companies. suddenly realized, wait, that's not working. everybody is going down with the ship. you saw weakness in the media stocks. i think $12 billion of market cap, you saw another billion wiped out in satellite and telecom. there was carnage everywhere. i think people are looking around and saying this trend is not going to be good for anybody. >> in terms of the subscriber losses, though, you point out that this is even happening on top of very, very strong household formation in the first quarter. it was

craig moffett, longtime wireless and media analyst, saying that this joint venture makes a outright deal between of the two wireless carriers perhaps less likely in the short term. the joint venture is for one year. finally want to take a quick look at oil as well. you can see here oil is now lower. it had been bouncing around today. now down .6%. bloomberg news reporting opec members had discussed perhaps making deeper cuts to production. but then backed off on doing so. that's according to people familiar with those negotiations. and it looks like oil's latest lowering coincided with that story coming out. vonnie. vonnie: julie, thanks for that comprehensive dive there into what's happening in the markets. well, french president-elect emmanuel macron defeated marine le pen in the runoff election, winning 66% of the vote. re he is speaking to supporters. president macron: tonight we won, france won. what we have been doing in the past few months is unprecedented. there's no such thing in history. everybody said it was in impossible but that was misjudging france. vonnie: joining us now

let's look at the winners -- first, verizon/at&t getting a boost from craig moffett, upgrading the sector and upgrading at&t from a neutral .ell -- to a sell joseph moore has picked up giving on prices, a a lift. nvidi let's look at a long-term chart of amazon. today, amazonries did hit $1000 a share. not there right now. less than five dollars away. this is a chart of amazon on the -- back to its ipo in may 15 on may 15, 1997. it is up nearly 1000%. in thebad for investors e-commerce giant seeming to take over in many ways right now. joe: that is an incredible chart. "what'd you miss?" let's get the latest on the increasingly tenuous relationship between president donald trump and u.s. allies in europe. kevin cirilli is washington -- bloomberg's chief washington correspondent. president trump returning after his trip overseas. how is the white house feeling about his trip, and what is the reaction in d.c. to all the things that happened? kevin cirilli: the president is continuing his beef with german chancellor angela merkel, but behind the scenes the white house is preparing for a shake