. >> sreenivasan: gillooly drew comparisons between "the wire" created by david simon and 19th century novels. >> it really is like a text. it's so carefully put together. it repays reviewing, the way a good text replays rereading, so every time i read "the iliad" or "bleak house" or "david copperfield," or whatever i see more and more. >> sreenivasan: you're putting david simon with some pretty high company? (laughing) >> well, i suppose if tv is coming into its own as genre, he'd be one of those people that's making it come into its own. >> sreenivasan: this semester the rutgers class is using the show's portrayal of racial inequality as a springboard to analyze the "black lives matter" movement. >> black lives matter came as a movement because some people believed they'd hit a ceiling, like, we are done with this. >> it's not just about people getting shot and killed. it's the injustice that happens after their civil rights have been violated. >> whether you agree with how it gets portrayed or not, that lends itself to great levels of debate and engagement. the students find themsel

the president david simon called the news a huge disappointment, but said dee gordon is an important team and we love and support him. >>> let's go now to last night's action on the nba court. in boston the hawks are headed to the semifinals after a 104-92 win over if celtics in game 6 taking the first round series four games to two. atlanta will take on the cleveland cavaliers in the second round. >>> and last night's quest for lord stanley's cup, in washington, d.c., the capitals take a 1-0 lead in their second round playoff series against the penguins. washington's t.j. oshie completes that hat trick, netting the deciding goal in overtime. 4-3 over pittsburgh. >>> okay. well, it's friday. that means we'll pay attention to the weather for the weekend. >> i can't get over that tunsil story. he lost millions last night because of that. >> ouch. >> yeah. a big bonfire at the university too. let's get into the forecast. severe storms erupting already this morning. we have a storm in the middle of the country all the way to the east coast. yesterday we saw this torrential rain in areas

welcome back to "squawk on the street," i'm carl quintanilla with david faber and simon hobbs. nasdaq positive for the month, s&p almost there. oil at 40.68. the highest since march 23rd. >> our road map this monday morning, the imf and blackrock's larry fink warning against negative interest rates and the risks they pose. >>> and worries about gdp, several economies forecasting its economy nearly shrank in the first quarter. >>> of course it is a big week for bank earnings, but analysts forecasts are dismal. find out how you should be playing the bank stocks. in other words, do they rally from here? >>> coming up later in the show, the former prime minister of italy, mario monti will join us live. we'll get his thoughts on the european union and its economy as david cameron prepares to make a live statement on his own finances. in 30 minutes. >> earnings season is kicking off today alcoa after the bell. expectations not that good. how much of that pain is priced in? mike santoli joins us with a look at what we can expect beginning tonight. >> yeah. i think it's fair to say par

simon hobbs was here and freaked simon out -- zpl that's not hard to do. >> it was fun. >> gold? gold, david i said, simon and they were up 20% now up 50%. i think you can trim back some of these things that have moved a lot but pick selectively. energy, high yield, but don't pick in the bottom of the bin right here. you've got protection. i've mentioned before to you both canadian bank stocks and yield the top five, very high quality and they yield 4 or 5% with the canadian dollar down yet. japan, morgan stanley still likes japan and europe and we've been very proud of our emerging markets goal which has done so well. >> energy, what about those guys that do pain a dividend? that mixes two areas. >> every one of your loyal viewers and fan viewers should be looking for dividends that can be maintained. and that's your big oil majors. you want to basically -- exxon-mobil yields 3.6, 3.7. chevron, 4.5. then you go to british petroleum which yields 7.9 and royal dutch 7.8, will they all be able to maintain their dividends? if so, you can nible at big oil majors, they make money on the downstrea

i'm carl quintanilla with david faber and simon hobbs and. sara eisen.h timothy adams and u.s. chairman. we cannot wait for that. in the meantime the markets are hanging onto gains despite a decline in oil. jpmorgan and banks. adding some 40 points to the dow. let's get to rick santelli with breaking news on inventories. rick. >> february read on business inventories was expected to be down just a bit. and it delivered. it's down one-tenth. minus one-tenth means it's kind of wild. you have them down last year of 0.1% as well. you have to go back to january of last year to figure down 0.2%. a little bit surprising. now inventories weak but weak as expected. carl, back to you. >> thank you very much. rick santelli. shares of jp missouri began as you said leading after prokts fell but beat expectations. paul, it's good to see you again. good morning. >> good morning. >> what can we ex-strap late from bank earning season? >> so many people negative on bank earnings. they hit a single and the stock is up because of thachlt there's so much negativity. even my

i'm carl quintanilla with sarah, simon, david faber at post nine of the new york stock exchange.big loser this morning, but it's being made up for in some other areas, as a result the dow is only down about nine points, s&p down about one. we are watching oil which did get above 45 earlier today. that is the highest since november. pending homes coming out as well. the numbers are at the bottom of your screen. so a lot to take stock of in advance of the fed decision this afternoon. first to the big mover, the day apple first revenue decline in 13 years after weakness in iphone sales was confirmed in the report yesterday. that news sent the shares tumbling. let's bring in josh lipton who spoke with tim cook and has all the highlights. good morning, josh. >> good morning, carl. when i spoke to him, tim cook sounded upbeat and looked confident. we are in the early innings of the iphone, cook said, and added that there is great reason for optimism, demand for the new iphone se in particular he said, in his words, off the charts. investors aren't as convinced however. in q2 apple's re

simon and matlock. emily: what distinguishes showtime from hbo or netflix? what is the showtime brand? david: we are all doing very similar things. for better or for worse, the premium, high end area is where everybody wants to go. so, what distinguishes a showtime show? i wanted to be culturally relevant. homeland has things to say about america's place in the 21st century world. even "masters of sex" has a lot to say about gender and our complicated relationships with sexuality. so, cultural relevance, entertainment value, characters with some complicated, adult psychology. emily: some would say that you have all of these hit shows but you haven't had your major, major hit. what is going to be your game of thrones? david: i don't think you ever plan for the big hit. i did not know what homeland was going to be. we are delivering consistent shows that people want to watch across the year. i would love to have a game of thrones. emily: does it keep you up at night? david: no. we have a lot of shows. so, you know, i'm trying to figure out how to make you to each one bigger than it is right no

i'm carl quintanilla with sara eisen, simon hobbs, david faber.gain, despite some downgrades from the imf, oil is helping out. brent with the highest level so far this year. >> we start with that news from d.c. on our road map. the imf cutting its global growth forecast once again. we'll have a first on cnbc interview with the imf's chief economist. >> and goldman sachs chief u.s. equities strategist, david kostin joins us live. find out where he thinks stocks are headed. >>> also ahead in the show, coke and pepsi hitting all-time new highs this week. you should should you be buying these stocks? >> earnings season unofficially kicks off, should investors be wary? joining us is david kostin. great to have you back. >> nice to see you. >> you've been not necessarily bullish on the year, but now you're not bullish on q1 either. why? >> a lot of issues will be impinging on the market. last night we officially kicked off the quarterly earnings season. the topic in focus for the next three weeks. a couple issues are in the front of investors minds. the

i'm carl quintanilla with sara eisen, simon hobbs, david faber at the new york stock exchange.ple wondering if this is the moment the market is making a turn. down about 85 points, on track for the worst two-day loss for the dow since the end of february. getting some macro at moment. ism services. for that we turn to rick santell santelli. >> nonmanufacturing services sector, looking for a number in the neighborhood of 54.5, 54.2. we got the high side, 54.5. this is a good number. it's the best number since actually just the end of last year in december when it was 55.8. but the good aspect of this number is we reverse the two-year trend. the unrevised look at february at 53.4 represented a two-year low read going to february of 2014. so this reversed that. let's look at new orders, shall we? they moved up from 55.5 to 56.7. employment moved over 50 into expansionary mode to 50.3. i would like to see this stronger, but also keep in mind it has not been under 50 on the headline number basically since january of 2010. now we're also looking for jolts to come out if it moves mark

i'm carl quintanilla with simon hobbs, david faber, sara eisen is off today.et to rick santelli. >> we have the february read on factory orders. down 1.7. we were expecting a number right in that ballpark. down 1.7 is the weakest since the last read of the year, which was minus 2.9. there was a subtle revision from up 1.6 to only up 1.2. if you take out transportation, it was down 0.02. durable goods orders, down 3%. that's definitely a little bit more aggressive than we were expecting. we were expecting 2.8, so it's close. the last time we were down 3%, would have to go back to -- it's quite a ways, you will have to go back all the way to two years, march of 2013, we were down 3.4%. when luke at x transportation, that was down 1.3. nondefense orders, that's nonaircraft, that's down 2.5. that's a capital investment proxy. that's also a weak number. shipments versus orders, down 1.7. neither were revised. both were negative last month as well. if this is the first major set of indices after the labor report, they're a bit on the weak side. simon, back to you. >

i'm simon hobbs with sarah and david faber.id will speak with starboard's jeff smith, keith meister. stocks hanging onto this week's surge taken us to fresh highs for the year. the dow advancing further above 18,000 despite ibm falling 5% on earnings. oil extending gaining above $40 a barrel. commodities doing well in general today, silver up 4%. >> our road map begins with netflix. shares are plunging right now after the company report reveals a slowdown in futures subscriber growth. >> goldman sachs quarterly earnings tumbling. ceo told investors he saw challenges across virtually every one of the businesses. >> and it's primary day in new york. a lot at stake as voting is underway in the empire state. we'll begin with netflix, that stock is getting hammered. netflix giving weak guidance going forward during their earnings call as competitor amazon announces its own stand alone streaming video service for a dollar less than netflix is. here's what ceo reed hastings had to say on the call about competition yesterday. >> hulu i

i'm carl quintanilla with simon hobbs, david faber at post nine of the new york stock exchange.is live at the imf world bank meeting in washington. we're going to get more from her after an already busy morning. her interview with jack lew and christine lagarde still to come. markets a little trepidation here ahead of china gdp, which comes out tonight. oil also down just a touch. >> here we go then, the road map this morning. in a few moments' time, sara's exclusive interview with treasury secretary jack lew. hear now what he said about banks, trade policy and who could be on the next $10 bill. plus, a live interview with imf managing director christine lagarde and former fdic chair sheila bair will weigh in on regulation, and of course, too big to fail. but let's send it right back to sara in d.c. for more of that exclusive interview with the treasury secretary. sara. >> reporter: good morning, simon. treasury secretary jack lew came out and defended his recent actions to block inversions, saying companies like pfizer and allergan should not have been surprised to see the trea

carl quintanilla, sara eisen, simon hobbs, and david faber.ck santelli. >> this is a preliminary read. it isn't a final. we lost the nine handle. i'm a little surprised. 89 president 7. our last final read, of course, for march was 91. how bad was it? if you go back to september it was 87.2. here's what's interesting. yo view to go back to november '14 to find another. they're not common as of late. when you look at the current conditions, it was 105.4. just a little dip from our last look. so we want to pay attention to this, of course. but it will change in about 2 1/2 weeks. simon, back to you. >> thank you very much, rick. >> gop front-runner donald trump looking to regain his winning mojo over the weekend. new york, of course, sets for primary on tuesday with trump holding a commanding pre-poll lead. an ohio governor john kasich vying for second place taking a not so direct shot at trump's anti-trade rhetoric during an interview with our own larry kudler last night. take a listen. >> competition innovation is good. i think, larry, the pro

i'm karl quintanilla with sara eisen, simon hobbs and david faber at post nine of the new york stockome weakness to start the day. dow's down 114, telecom not helping, verizon downgrade. oil's not doing a whole lot, but is in the red to the tune of 2%. >> here's your road map for the next 60 minutes on cnbc. jamie dimon making waves on wall street with his wide-ranging letter talking market volatility and china. >> plus, an exclusive interview with margrethe vestager. she'll weigh in on inversions, the panama papers and the latest on google from the eu antitrust commissioner. >> and former farmer ceo will join us with his take on pfizer, allergan and the rest of the injury. >>> first up, jpmorgan ceo jamie dimon writing "the good news is the system can handle the volatility. the bad news is we don't completely understand why this is happening." joining us at post nine, tony crescenzi at pimco. >> nice to be here. >> nice to see you. do you have thoughts on dimon's letter? >> let me just take it higher and talk about the banking industry in general and relate it to central banks and a

good friday morning, welcome back to "squawk on the street," i'm carl quintanilla with simon hobbs, sara eisen and davidd it owes it almost to oil, up almost $2. highest since march 23rd for brent. breaking news on wholesale trade. let's get to rick santelli. >> on the inventory side, this is a february number, we are down 0.5, that's more than double the 0.2 we're looking for. last month up 0.3, moves down to 0.2. last time we were on minus 0.5, looks to be around may of 2013. to the wholesalers on the sales side, the sales were down 0.2%. we were looking for up 0.2%. the january number lost some horsepower from originally released at minus 1.3 to down 1.4. on the sales side, let's consider this -- when you're down that much, down 1.9, you have to go quite a ways back. this down 2.2 gets lost in that. so these numbers are much worse than anticipated. maybe the thing to pay most attention to, continues to be the five-year note yield testing some important support in a mid one-teens. watch the 113 to 115 yield level. sara, back to you. >> thank you, rick santelli. >>> just days after the treasury announc

yes, and i'm struck by the political nuance and i defer to simon all matters british and uk, but if you look at the president's embrace of davidonservative leader there in england and the labor party, there is an article in the daily mail about whether obama is going to e meet with jeremy corbin who is the labor leader who has made controversial remarks about osama bin laden, and then embrace the person who is more on his side of the argument with the eu issue, and a flipping of democrats and labor when you are look at the transatlantic relationship. >> yes, i want to point out to people who know the uk and europe well know that the left and the right is not as align aed as they would be. the united states is much more to the right than is europe, and therefore they are actually probably match. >> right. except for feeling the bern. >> i don't know how bernie plays in london. >> dean, to what defwree is cameron weakened going into this based on what is happening in the last couple of weeks relative to the panama papers? >> well, that is not really my field of the expertise. i think that, you know, certainly globally those pape

vonnie: doesn't simon says look exactly like that order david: it looks like sagittarius. covers the markets every day, i can confirm this chart is correct. but as we are seeing in the markets. scarlet: i think there were undercurrents. matt: so what i have here is a chart, we talk about personal consumption expenditures, consumption being the key word. we talk about consumers buying. if you look at friday, the weekend, alcohol consumption, you can see that beer consumption has really declined. this is among people over 20, i assume over 21 because you have awful if someone under 21 drink a beer. you can see wine increasing as well as spirits. this is a problem ab inbev is running into. they are losing market share to wine and alcohol. minard, let me ask a question, as an investor, which of those charts would be more important to you? >> as a consumer of spirits -- [laughter] i think this chart of the specular rotation is actually extreme interesting. and very compelling. it is a thing i wouldn't shall use. you can get there on the bloomberg terminal rrg. scarlet: we can a

simon suggted. >> it all sounds good. we have two manufacturing ceos coming up later. davidt me ask you this, that growth foundation, whether you look at it in jobs or manufacturing now, enough to get corporate profit growth back? >> yeah, i think it should be. but we're just going to have to wait. there's a lot of noise in the corporate profit picture. it's been held down by the actions of the dollar and oil prices last year. despite oil falling off a bit today, it's still does seem to have stabilized and is gradually going to move up. the dollar, of course, has been moving down. by the second half of this year, we should see much better year over year numbers in corporate profits. i don't think profit also boom but they will fully recover. markets may want to wait for that. we will get that profit recovery unless the u.s. economy falters. as steve said, nothing in the numbers suggests the u.s. economy is faltering. >> one thing the market has not wait ford is trying to sniff out a revival in the u.s. economy. january 25th, 3m had a good profit report. earlier this week you

simon. next, how do they do that? we will speak with the ceo next. iaae-m" anna: 6:30 in london here. bloomberg first word news. here is david>> let's look at the u.s. first. donald trump has declared himself a presumptive nominee for the republican party as he in all fivey northeastern states holding primaries on tuesday. hillary clinton beat bernie sanders in four of the five. apple shares have slumped in afterhours trading second-quarter sales fell 13% from a year earlier. the company's first revenue drop in more than a decade. the aussie dollar has weakened quite a bit after inflation unexpectedly dropped during the first quarter. the consumer price index fell .2%. global news 24 hours a day. find more stories at bloomberg.com. anna: david there in hong kong. norway's biggest oil company has beaten first-quarter estimates posting a profit as crude prices fell to their lowest level in almost 12 years. company's ceo.he great to have you on the program as always. how did you get to this profit? >> hard work, i guess. we are reflecting the low commodity prices. and westrong performance are growing our production capacity org

david: the yen is surging. at its strongest level against the dollar in 1.5 years. it gained even after a government official said they would take action on the currency if needed. as well asis here simonennedy. just when i think the yen is maxed out, it goes even further. 108. to what is causing this? talk companies are repatriating earnings into yen. >> a move we have seen over several months. dollar yen down 9.94% year to date, a significant move. easing, is that we're looking at? that is the case, a worried that intervention is a false campaign. it has a limited effect. the agreement among the g-20 officials not to do such things. the japanese are on their own. vonnie: japan hosting the next g7 meeting. what about the idea with exiting markets going down, people are hedging using yen? yenhat is an issue and the is a safe haven given the amount of debt, in times of trouble the yen is often favored over other currencies and maybe you be are seeing a bit of that. banksns that the central are not packing the punch they once did and the global economy is not doing well. david: you are a student of how markets interrelate. one of the reasons i should be concerned is not so much the actua

simon. i also want to acknowledge the following house staff for their hard work and commitment to this bill -- brandon richie, jennifer chudrie, sally larson, david greengrass. finally i want to thank the many staff members for majority leader mitch mcconnell and minority leader harry reid who helped make this bill's passage a military, especially lauren dove, sharon soderstrom, john ap eg, trish chegg. enacting reform in the midst of a presidential election is something to celebrate. in very real ways, this bill will help strengthen our economy and allow businesses to grow and create additional jobs for hardworking americans. i hope my colleagues will join me in safeguarding american ingenuity by voting for the defend trade secrets act. they won't be sorry about doing that. now, i understand senator coons is here. i want to recognize him and all the work he's done with me on this bill as a wonderful partner on the judiciary committee, and i personally appreciate him very, very much. with that, i yield the floor. mr. coons: mr. president? the presiding officer: the senator from delaware. mr. coons: mr. president, i'd like to begin my remarks toda