cnbc's dom chu >> well, melissa, i may lack the monetary wealth of other folks but i would like to think that i made up for it in other ways jack dorsey has taken a good amount of heat the last several years. dorsey is coming outlooking pretty decent for his job, he's the chief executive of and the founder of as well if you thought you had a nice month of may does not compare to contador soy who saw his net worth increase by a whopping $733 million or there abouts twitter stock has flown right past the rest of the market gaining 14% just for the month of may meaning jack dorsey's stake in the company gained around $65 million in value. not too shabby that means that his stake in square will account for the network of the month as it is sores for around 24% that stake gains $668 million during the month again, not too shabby. if you look over the past year, investors who have been a i llog for the ride have been benefited to some degrees. it is still up 88% over the last 12 months. square shares are up 50% and set a new record high earlier today 67 melissa, what will it take to keep thing

. >>> let's go to dom chu back at hq with the european close. >> european stocks off their worst levels of the day. still mostly in the red, as you can see with this map behind me here, all on worries about escalating trade tensions between the u.s. and china germany and france showing the most weakness. autos are weighing on both markets. you can see there down about 1% and dax in germany down about 1% now volkswagen, renault, peugeot and daimler all down audi executive has been named as the interim ceo there. mi miners also the biggest drop this, amid all those trade war concerns here. it could reduce possible chinese demand for certain metals. as apple shares decline in the u.s., european suppliers like asml, dialog all showing some impact >>> and stock story related to earnings down sharply after posting its third profit warning of the year, british retailer citing heavy discounting by competitors. shares in debenhams down about 11% here. >> dom chu, thank you for that. >>> let's get to contessa brewer for a news update. contessa >> demanding that the trump administration end a zero

question is just how big can it get for more, let's get to the man who's already larger than life, dom chuk in the newsroom. >> well, not even at the same ballpark, melissa, thank you apple just a mere $50 billion away from the psychological $1 trillion level some are arguing apple could have more runway not as much about the fundamental business about the overall waiting in the s&p 500 acco apple is around a 4% weighting but it's nothe biggest weighting we've seen for a stock in modern history in data going back to 1980 it was big blue that had the most heft at any one point in the s&p in 12, ieb ye-- ibm translated into a 6% weighting. as of may, jt shy of $23.5 trillion in a vacuum environment with all other variables held constant. a 6% weighted stock would be worth nearly $1.4 trillion it's a totally imperfect comparison to make and market dynamics aren't that simple but it's one of the justification for the apple bulls. as for the bear cases, we know it's a big company, growth will be harder to find in size and scale and melissa, those companies that have reached those market cap pin

. >>> welcome back keeping an eye on shares of home builders let's get over to dom chu back at hq. >>e are watching those home builders. they are falling generally speaking this morning. two of the most closely watched etfs in this space, this is the u.s. home construction etf ticker itb also the s&p home builder etf ticker xhb both on track for their worst days in trading since mid-may. driving the action those strong ppi inflation numbers this morning ahead of the fed meeting this afternoon that producer price index producing the strongest year on year gains since last year dr horton and henar and pulte among the woperformance in the s& lennar on pace for the worst day in a month as we talk about rising interest rates or the threat of, home builders certainly ones to watch. back over to you. >> thank you dom chu at hq. >>> the united states will host the 2026 fifa world cup after a three-way bid with mexico and canada was granted staging rights at post nine the -- here's the president of fifa making the announcement >> the member associations of canada, mexico and usa have been sele

dom chu, thank you so much. >>> up next, money, power, politics.eed you to pay attention to this. private prisons. that's where these young children are. these prisons are catching in. thanks in part to the continuing migrant crisis. wait until you hear how much money they are making and where they getting that money from? our federal government. we're going to speak with the new york governor and get an update. managing blood sugar is not a marathon. it's a series of smart choices. and when you replace one meal or snack a day with glucerna made with carbsteady to help minimize blood sugar spikes you can really feel it. glucerna. everyday progress. you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. >>> please listen to this. in today's money, power, politics. private prisons. they are cashing in on president trump's get tough policies at the border. since 1997, the federal bureau o

. ♪ >>> breaking down what we're seeing in tech space is another very rich man, cnbc's dom chu. >> well may lack the monetary wealth of other folks, but i like to think i've made up for it in other ways but jack dorsey, he's taken a good amount of heat over the years, but over the course of the last 12 months, dorsey has come out looking pretty decent for his job at the helm of both companies he is the chief executive of and a founder of, as well. and if you thought you had a nice month of may, it likely doesn't compare to dorsey, who saw his net worth increase by a whopping -- get this -- $733 million, or thereabouts. now, twitter stock has flown right past the rest of the market, gaining 14%, just for the month of may, meaning jack dorsey's stake in the company gained around $65 million in value, not too shabby. and that means that his stake in square will account for the bulk of his net worth gain for the month, as shares of the payment processor soared by around 24%, meaning that that stake gained $668 million just during the month. again, not too shabby. if you look over the past y

the showdown >> who has dom chu >> we're taking chu. m. >> that's a problem then >> you have andrew >> chu and i versus you and whom >> sorkin, but -- >> sold. >> on the one with the big windmill, andrew has that down he times it. i can't wait to see what happens. you think a bidding war -- what do you think disney does >> i don't think they bid. >> you don't think they bid? >> no. that's what i'm reading. >> maybe that's why the stock goes up. we give up we're afraid of brian. i hope so. that's my narrative. brian -- not you >> joe kernen, we're teeing you up >> when they say brian wants to do all these things, they're not saying you, are they >> just say bs i'll take more bs. jk, thank you. >>> coming up, bitcoin or bust the cryptocurrency dropping big over the last couple of months, why? where is it going? we'll talk about it. >>> red, white and trump, why today's rbi has to do with the presidenant d flags, but not in the way you think. and packages. and it's also a story about people. people who rely on us every day to deliver their

dom chu has more dom? >> reporter: it's not official yet, wilfred because the latest tests have not been done, but the computer summit here at the o oakridge national laboratory in tennessee is expected to be a leapfrogging event in super computing, beating out the most powerful super computers, the one in china for an idea of how big a scale we're talking about, this computer right here can calculate 200,000 trillion computations in one second for perspective, that's as though every person on earth made a calculation every second for 305 straight days. that's what this computer can do in one second. it's massive it's also the size of two tennis courts takes 22,000 gallons of water to cool this thing. what's all this super computer power going to do? the possibilities are limitless, but ibm's ceo joined us earlier to talk about what she sees as the real world application for what summit will do in the future take a listen. >> we'll have compounds, new cures for cancer, new med sips, research on alzheimer's

dom chu, thanks.ou soon. >> you've got it. >>> still to come on "worldwide exchange," megamerger mayhem could more m&a kick off over last week's deals. we'll discuss after the break. >>> if you own disney, listen up something happened this morning you're going to want to hear stick around for your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain-health supplement in drug stores nationwide. prevagen. the name to remember. >>> all right. welcome back if you own shares of disney, listen up this morning because there's a big downgrade there. pivotal downgrading from hold to sell brine weisner says the recent sellup fails to show the higher price pay for fox's assets will reduce the value of disney to the shareholders something to watch if you own disney down 1.7%. let's talk about that big deal comcast, fox, disney coming back in jo

. >> let's go to dom chu who has another news alert dom, what do you have? >> bryan colangelo the president of basketball operations is out. he has resigned and the sixers has accepted his resignation this follows into an investigation into social media accounts that may have been linked to him that posted sensitive team information on personnel and other matters. an investigation by independent lawyers revealed while he may have been guilty of some things it did say that we believe there colangelo was careless and in some instances reckless in failing to safe public service outside of the 76ers organization the twitter accounts lawyers found were linked to his wife. they are looking to move on, scott, an interesting development on a social media link story we've been following for quite some time in sports. >> i was wondering, dom, thank you, how all of this was going to play out after the initial reports came out about those alleged accounts >> my wife has a burner account. she just keeps tweeting all day. >>> let's retouch the markets here as we're about

and we'll go out to dom chu at the u.s. open. >> i pulled a tough assignment today, but i'm talking about the game of golf it is trying to grow because the fan base is growing. there are all different kinds of companies trying to take advantage, trying to profit from the trends we'll lloubo a othte y autllf at when "power lunch" returns prepare for your demise, mr. billingsley! do your worst, doctor. i will. but first, a little presentation. hijacking earth's geothermal energy supply. phase 1. choosing the right drill bit. as long as evil villains reveal their plans, you can count on geico saving folks money. fifteen minutes could save you fifteen percent or more on car insurance. it's pretty amazing out there. the world is full of more possibilities than ever before. and american express has your back every step of the way- whether it's the comfort of knowing help is just a call away with global assist. or getting financing to fund your business. no one has your back like american express. so where ever you go. we're right

. >> let's go to dom chu who has a news alert >> we have survey monkey's parent company taking the nexttep in going public it has officially filed confidential paperwork with the securities and exchange commission for the next step in that ipo process that process is called an s1 they were working closely with jpmorgan as a possible underwriter for this ipo we heard over the past four years, the last time they fund raised four years ago the valuation of the company was $2 billion. we'll see if that ipo gets closer to a valuation in line or more or less than that $2 billion from four years ago. back over to you >> thank you very much let's jump to contessa brewer who has the headlines for us >> the united nations humans rights chief is urging the trump administration to end new policy separating migrant children from their parents. he spoke at the opening of the regular human rights council session in geneva. >> the thought that any state would seek to deter parents by inflicting such abuse on children is unconscionable >> german authorities detaining the ceo of volkswagen unit audi as p

let's bring in cnbc's dom chu. the market loved that jobs report. rallied 20 points on friday.ut we haven't had any major breakthroughs on the trade talks yet. then you've got tariffs possibly coming from mexico, canada. how's all this playing into the markets? >> it's playing out the way you laid out. it's a real tug-of-war right now. so that's the reason why you're seeing the dow maybe up 200 points one day, down 200 points another. it's not really a situation where the markets or traders, investors out there, can find any sort of direction. the reason why is because there is no real earnings news coming out for corporate america. there is no real big headline about mergers or accusations. so the markets are hanging pretty much on all of these trade/tariff headlines and we don't see that many of them developing. what we could see is a more volatile week develop as president trump and the rest of the g-7 kind of get together later on this week in canada. it's in those situations where any kind of news headline coming out could stoke some fears or at leas some optimism about wh

. >> steve, thankssteve liesman is >> dom chu has a market flash for us on a stock that has been on a tear. >>n, the near term momentum story behind thispartig shares of tesla. up more than 5% just so far today. they're on pace for what looks to be a pretty decent three-day winning streak for this partic also, if we take a look alt the best one-day performance, this happening in a week for this particular stock the stock is now up more than 22% just since the beginning of the month. tracking for its best monthly performance sincry of 2014 also worth noting, guys, tesla up more than 10% to start the we pace for its fourth straight week of gains for the first time since august, going back a while to 2017 so one other thing to talk about, the primary driver for today's price action, nothing other than the model 3 key bank capital markets, they say the second quarter delivery estimates, they're ratcheting up by 50% to 30,000 deliveries from a prior 20,000 that's what's driving the stock today. remember, scott, a momentum trade for sure over the last 11 weeks. tesla ha h two down ones the

for more, i want to bring in my friend dom chu of cnbc. what are investors worried about? because until now, trump's rhetoric has gone somewhat ignored. people don't believe him until you actually see policy get put in place. because he talks a lot. >> right. so there is this idea that he talks a lot. when action does take place, the markets are going to try to react to them. what you're seeing right now is that 1% drop in the dow as viewers and listeners are kind of witnessing as we speak. you'll notice it's not a 5% drop or a 6% drop or some massive so we are still in the midst of trying to figure out whether there are long-term consequences to this. what we do know is it's going to be $34 billion worth of tariffs initially on chinese goods and they're doing the exact same dollar amounts on our goods. later on down the line, they both tack on another $16 billion apiece to make it $50 billion worth of tariffs. that's the beginning. are not down more is because we don't exactly know what the clarity of future policy will be. the reason why they aren't positive today is bec

if you're planning to go to the course, it's going to cost you dom chu joins us with a preview. s you guys were just talking about the experience factor. what everyone wants to do in terms of getting that feel well, here in the hamptons, it's probably the definition of wealth all these players behind me are getting ready to tee off today in what will be the most expensive get in for a ticket at the u.s. open in at least five years. we'll have more on that story and much more from t u. he.sopen when "squawk box" returns after this break into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. add-on advantage. it can grow out of control, disrupting business and taking on a life of its own. its multi-cloud complexity creating friction... and slowing innovation. with software-defined solutions, like hpe oneview, you can tame the it monster. hewlett packard enterprise. less complexity. more visibility. >>> second round of the u.s. open is about t

let's bring in cnbc's dom chu. how are the markets reacting to the trade tensions between the u.s. losing streak for the dow and arguably it's the most important driver of what's happening in the markets, both here and abroad. that ongoing trade dispute between the u.s. and countries around the world, including canada, mexico, china, and, of course, members of the european union, developments on that escalation of trade conflicts with those countries has been the biggest driving force, arguably, in what's happening so far. now, we have new news this morning, interesting on the positive side perhaps, this is according to "the wall street journal." it's reporting talks between the u.s. and german automakers may have opened up the idea of ending german import tax on american made cars, but in return they want the u.s. to drop the 25% tax on imported trucks and suvs and large vans. of course, we'll be keeping a close eye on anything auto related on the heels of that report. again, something to watch there. on the immigration front, a slate of high profile corporate chief executives hav

dom chu looking at how the new tariffs could impact the auto industry >> there's a lot of stuff goingariffs and a lot of focus happening here. the driving force behind the auto stocks has been not just the tariff discussion but what's happening with artificial intelligence, autonomous self-driving, that sort of thing. as we saw yesterday, general motors stock and the big move higher a 12, 13% gain and we're extending them so far today, just over the past week, up about 12.5%. a big move there for general motors now to put it in context for gm it will fight a lot of these secular headwinds if they come to fruition. one of the things we'll watch as well is how it's done since it re-emerged from bankruptcy in the auto bailouts and wh whatnot. a lot of the move higher has been in that range about 25, 26%. this big move higher right here, the biggest since it emerged from those bailouts. one of the other things to watch if you take a play on tariffs aside and autonomous driving, that seemed to drive gm shares as well as ford and fiat chrysler an etf called the global x robotics & artificia

computers we make to sell to everybody around the world, including to the united states >> thanks, dom dom chujon fortt for what's coming up on "squawk alley. >> we have an eye on media that landscape is shifting quickly. we'll be o iutn cannes with the ceo of hulu. certainly our food basket is typically locally sourced. coffee beans, happy meal toys, we do have to trade those around the world. we're keeping an eye on what that means. >> we're opening a new store, on average, every 15 hours in china and with the middle class population growing to over 600 million, you know, we think we have a fem on nal opportunity to reach china. we're focused on the growth potential, long-term growth potential that presents for starbucks. that might be in the united states and it might be globally. we're trying to figure out what it means to economic activity. in just a few more weeks, that's going to color a lot of the commentary, you can imagine, barring dramatic reversal and rhetoric dow down 326 boeing the worst component for the 50 day for the first time since early may. >> earnings could very well be i

we're taking with them >> we'll see how this -- more will be revealed >>> now for our etf spotlight, dom chuooking at financials with big banks passing the first round of the annual stress test >> 35 checkmarks all of them passing that particular mark. we're seeing a little of the activity on the up side for those financials today as you can see here with the s&p 500 financials so far today, we're up about 0.3%. and we have been hovering somewhat in a range so far as you look at the overall sector picture, financials are among maybe just in line some of the laggards here. if you take a look at the year to date chart on some of the etfs that have tracked this particular market, we put up the s&p 500 etf, the spdr, year to date ticker xlf, and one that tracks the regional banks, kre. you can see here that those regional banks have really outperformed not just the financial sector overall but the market as well so something to keep an eye on as for today's trade with regard to those etfs and what's driving them, there are certain stocks we're focussing on today let's look at some of those in th

a breakdown of the big movers here >>> at cnbc global headquarters, i'm dom chu.de worries are portfolio worries. who has the biggest exposure to china. we have the details. >>> i'm kelly evans. in a sea of red, serging after promising drug data.

a breakdown of the big movers here >>> at cnbc global headquarters, i'm dom chu. trade worries are portfolio worries. who has the biggest exposure to china. we have the details. >>> i'm kelly evans. in a sea of red, serging after promising drug data. the "closing bell" starts right now. >>> welcome to this uesday, everybody, hello, to you >> welcome back. >> i know. >> nice weekend? >> i didn't -- did you see the mickelson hole sat >> i did not see that particular one, but - >> unbelievable. >> i have not gone to -- >> were you on the course when it happened? >> yes, but not by his hole. >> crazy >> it was hot. >> so hot. >> attempt the headache with the beers? so - >> it was unbelievable all those stories in a moment. a check of the markets, though, down more than 400 on the trade tensions with china. coming back, though, 419 at the lows, dow's down 276 points now, but, by the way, negative now for the sixth straight day for the dow. >> are, indeed, although, the other indexes held up better throughout the last week and day. out to washington where kayla has the

unveiling the world's fastest super computer today leapfrogging its biggest competitor, which is china dom chun with the three big players behind the development. he joins us now from oak ridge, tennessee, with more this is a big deal, dom. >> reporter: this is a huge deal because it does put america back at the top of super computing, super computing supremacy, if you will, so what you're seeing behind me here are just one of the rows, many here, full of computer banks, and what this super computer is going to end up doing is doing so many complex calculations that go from health care to everything else we spoke to ginni and energy secretary rick perry for an interview over what this means for american technology. take a listen to what they told us earlier >> this is nothing less than world changing whether it's in the energy sector, whether it's in the cyber security sector, whether it's in materials sector, and importantly, i think, across the board, in the health sector. >> now, ginni, if you were a defense contractor, you'd be primed on this project so what exactly is ibm contributing in

let's get to dom chu with the market flash >> so, sara, we're keeping a close eye on what's happeningh a number of big cap technology names as the nasdaq hits another record high and did so earlier today the faang stocks, you got facebook hitting an intraday all-time high for the first time since back in early february and finally, guys, impa want to cal your attention to what's happening with twitter, adding to its gains on pace for its best week since february and on pace for its second best month ever and tyler, i'm still getting used to saying twitter in the s&p 500. >> all right, dom, thank you very much. >>> biggest names in health care gather now in minneapolis to discuss the changing industry landscape. meg tirrell is there, of course, with eli lilly ceo david ricks >> hi, tyler thanks so much and thank you, dave, for joining us i want to ask you something about the near term, a lot of people waiting for news or a decision about your animal health business. what can you tell us there >> last olkt, ctober, we announw were going to conduct a strategic review because we've grown

178 and nasdaq up 67 with more news on the company as the developers conference wraps up out west dom chu story. >> kelly, as josh lipton told us in the world wide developers conference, apple unveiled a suite of products meant to hp users not be as in tune with their iphone or disturbed or distracted by the phone as in years past one of the things this resinates with is investor hedge fund that controls bils of dollars worth of apple shares. you may recall that back earlier this year, they were right here on cnbc's halftime report talking about the idea that apple needs to fix idea of iphone and ipad addiction. they weighed in on some of apple's developments here to limit that screen time they have said in a statement from jana partners, this is an innovative and thoughtful response to the challenge we put force and commend apple again for leadership and commitment to acting responsibly while we will review the details and apple's follow-through will be important, this looks like a clear win for the parents and families, as well as shareholders given that this should strengthen apple's e

dom chu joins us from cnbc headquarters he is off the golf course and now playing the production and>> good morning. i see what you did there with the whole drill down remark on our oil sector check it's important this week overall because we have the opec meet g ing kicking off this week. so it's going to be a real key to watch this particular set of stocks going over the next few days at least. take a look at this, first of all. if you look at the s&p 500ust on a year to date basis, the s&p 500 is now just a notch above energy energy had been in the leadership position the last couple of weeks when oil prices have taken a bit of a hit. if you take a look now further against one specific set of them the exploration and production companies. the spdr etf is a mouthful but certain pockets have been doing really well. if you look at drilling down further into the stocks that have been driving this performance, the winners here are names you may not have nersners -- necessarily heard of it's penn virginia corporation doubling over the last period. also california resources corporation u

dom chu joins us with more on a huge move we've been following joe said earlier this is kind of the capn following for many years with this company >> we've done stories in the past whether this is a indicator or not we'll see how other stocks that have been kicked out of the dow have done. let's look at the waning influence over the course of the years. they are on the dow, of course, a price weighted index if you look at the last 20 years, that performance has been staggering how about the waiting in the s&p 500? how much heft does it carry? howard silverblat went back to every december to 1980 turns out to ge was a $14 billion company in december of 1980 and the total s&p 500, not even the dow. by 1990, it was almost 2.5%. worth $50 billion. just after its peak in august 2000 it was a 4%-plus weight in the s&p. and in december of 2010 it was a 1.6% weighting if you look at today, after the charts and that big drop we've seen so far this year over the past 12 months and of course since its highs, now it's worth about 0.5% of the overall s&p 500. that's how much weight it carries. it m

save up to 15% when you book early at hollidayinn.com >>> let's get a news alert with dominic chu at hq. hey, domnds, fuji film, the japanese filmmaker is suing xerox for breach of termination agreements, looking for damages well in excess of $1 billion, according to court documents they filed their claim is that by xerox callinoff their merger with fuji films joint venture with xerox, carl failed to give other shareholders the opportunity to have a benefit of this merger. so these court documents just filed, an ongoing saga that we'll keep an eye on right now shares of xerox moving slightly lower on the heels of this lawsuit by fuji >> one of several corporate soap operas to keep track of. following the markets, still well off the lows. is down 155. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like any of these types of plans, they pick up some of what medicare doesn't pay. and could really save you in out-of-pocket medical costs. call unitedhealthcare insurance compan

. >>> to dominic chu at hq as european stocks close for the day. dom?> we're in, at least, losing momentum territory right now starting the day off on a generally positive note. the tone got more mixed as the day progressed more red on the screen than we thought. broader stocks europe ended up fractionally negative on the day here a drop of 2.5% in april. it already fell 1.1% in the month in march, fourth straight drop for that particular reading in germany earlier in the session, banks were among some of the best performers commerce bank and, as you can see there, even beleagued deutsche bank seemed to find some bid today quantitative easing, those talks begin this week. british stocks didn't open on time today due to technical issues but did resume trading at 9:00 a.m. local. as you can see there, just about flat on the idea in london remy cointreau, better than expected profits, helped along by premium spirits for cognac in places like china, but fell for valuation. so julia, as we talk about remy coin cointreau that's just off a hair back to you. >>

on long island, including world number one dustin johnson and dominic chu is here with the ceo, david welcome. welcome to you, domoff. >> let's talk about the u.s. open, because how important is it for taylormade to have a week like this, a major championship here in the new york area? >> thrilled to be here, guys tyler, great to be back. well, it's a couple of things. one, it's great for golf when you think about the energy that a major championship in a major city like new york brings to the game of golf it's really fantastic. so, it's a big week for golf, and certainly a big week for taylormade i think about our athletes and how they're positioned to compete this week. i'm excited about the positioning of our brand, the athletes that represent our brand. we currently have five of the top ten athletes in the world that play taylormade and in addition though that, tiger woods, who happens to be trendi trending toward the to >> dustin johnson had an amazing weekend last weekend >> and the walkoff homer at the end, right >> holed out, yeah >> i know you two guys hit 9 iron 170 yards into the hole with great freque