i'm sara eisen >> i'm dominic chu in for wilfred frost.t's throwback thursday, here's a one-hit wonder, "i'm blue. >> you wremember this. >> who could forget. it was all over new york >> all over cincinnati, too. glad to have you here. >> good to be here >> let's check in on the global markets after broad-based rally yesterday for u.s. equities comeback futures set for a higher start dow jones up 33. financials were a big driver after the stress test results. nasdaq up 1 point. s&p up 4 the banks led the session yesterday. they came out with much bigger than expected cash returners in the forms of buybacks and dividends. the fed blessed all of it financials got a further boost after the close. there's the early action in terms of the xlf, the etf that tracks financials, up 1.5 in the early action what's helping the banks is the ten-year treasury note yield has been bouncing. certainly off the lows of 2.13 we saw this week 2.24 not bad. some selling of treasuries for the last few sessions sending yields higher. >> if you get those yields hi

. >> reporter: i'm dominic chu at the u.s. open in wisconsin. we'll talk about why father's day and the u.s. open made for a great pairing when it comes to the retail industry for golf, coming up on "nightly business >>> mcdonald's will no longer be a sponsor of the olympic games. after supporting the event for 41 years, and contributing more than $1 billion every four-year cycle, the fast food giant pulled out of its contract early. the company said the decision comes as it shifts its focus to different priorities. >>> it may be the middle of june but for golf equipment retailers it feels like christmas. dominic chu tells us why it's the most wonderful time of the year for this industry. he's at the u.s. open in aaron hills, wisconsin. >> reporter: when it comes to the world of retail, it's all about the holiday shopping season. november and december are when stores sell the most stuff. but in the world of golf, peak shopping season is right now. a week with both father's day and the u.s. open golf championship being played this year at aaron h

dominic chu looks at what's driving it and what's not. >> reporter: the dow jones industrial average gained close to 1400 points so far in 2017. powering the dow has been a pretty narrow range of stocks. eight stocks in the dow have been responsible for just about every point in those gains so far. and three of those stocks are responsible for half of them. so when it comes to the dow, which stocks are the ones driving the gains and which ones are the biggest drags on it? we put up our thermometer to give you a sense of what's powering the dow. apple's stock has been on a tear so far this year. as a result, and because of its price weighted index, it's added 263 points overall. boeing a bigger point contributor, 225 points comes from boeing. then 207 from mocdonald's. those three stocks responsible for half the overall point gains so far this year. after the biggest drags, you've got ibm, big blue, taking 93 points off the overall index's value year to date so far. chevron, about 98 points. and the biggest drag so far has been on the financial side of things, perhaps no surprise ther

dominic chu knows. >>> what's behind the move? we'll have that after the break. [pony neighing] what? hey gary. oh. what's with the dog-sized horse? i'm crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get support from thinkorswim's in-app chat. it lets you chat and share your screen directly with a live person right from the app, so you don't need a comfort pony. oh, so what about my motivational meerkat? in-app chat on thinkorswim. only at td ameritrade. >>> we all know passive investing is all the rage and more investors have gone this route, lured in by promises of lower fees and less risk. but could the pendulum be set to swing back toward the stock picker? it turns out this year they're already winning. dominic chu has more. >>> those stock pickers are doing pretty well so far in 2017, and to put some numbers behind it christopher harvey heads up equity strategy at wells fargo securities and he and his team looked at a whole universe of mutual fund compa

let me bring in my buddy, dominic chu. his handle is @the domino, which always makes me hungry. stock market? >> well, the tech stocks were the biggest losers over the past couple of weeks and we're talking about the biggest sector in the entire s&p 500 so they'll drive a lot of the trading action. we are talking about apple, facebook, microsoft. the google parent company, alphabet and of course, amazon. amazon some say is more of a pure play retail company these days. however, all of the mega cap technology stocks have pulled back the most. it seems that as the prices have dropped for those stocks there have been investors who have stepped up to purchase some those shares at a bit of a discount to those then level. so again, those technology stocks certainly making a huge impression on what's happening in the market right now. >> stocks go down, a percent or two. half of the world gets worried that the stock market is coming to the end. but buyers just get in there and buy them back and the market seems to go up these days. >> it's the -- been the story line for months and mont

dominic chu is tracking those. >> michelle, people use the 50-day moving average, the average price of a stock it's just one factor one of these trend lines that people look to look at the technology etf the purplish line is the 50-day trend line we're trading below there for the technology sector overall. it's being driven by some of the biggest names that we talk about on a daily basis apple is below the 50-day trend line the biggest stock of them all. turn around to microsoft, a stock that has seen record highs not too long ago but now trading below that 50-day trend line a big mega cap name to talk to alpha bat class a shares, trading below there as well. and then we end on one that's not technically a technology stock. but amazon.com, it's hovering right around the 50 day. nearly a quarter of the s&p 500 starts to show weakness like this and traders are concerned that it's not the end all be all. back to you, guys. >> amazon i think is a tech stock but thougnot officially let's bring in kevin o'leary and jerry. big rotation, as bob pointed out. should somebody follow the rotation

i'm dominic chu. investors are turning more defensive and cautious you can see telecom, utilities and real estate driving the trading today so far with the markets down in early trading any way. and that does it for this hour of "squawk on the street." let's send it back downtown for the start of "squawk alley." back over to you guys. >> all right, thank you very much, dom. good morning it is 8:00 a.m. at apple headquarters in cupertino, it's 11:00 a.m. on wall street and "squawk alley" is live ♪ ♪ >>> good thursday morning. welcome to "squawk alley." i'm carl quintanilla with jon fortt, sarah eisen at post nine of the new york stock exchange joining us this morning business insider ceo henry joining us. >> we are awaiting president trump expected to make comments on his new apprenticeship and workforce of tomorrow initiative that is rescheduled from yesterday. also set to sign an executive order. eamon javers with us from the white house. do we know, eamon, what's inside this executive order what the

let's go to dominic chu.f the top ranks the internal inquiry handled by former attorney general eric holder looking into allegations of a hostile work environment and gender bias. a number of key executives have left the firm but uber has been working to add women to its highest ranks including the hires of former apple exec st. john as their chief brand officer and nestle executive will join the board of directors. travis kalanick is considering a leave of absence. on the jobs front mcdonald's is in hiring mode and wants summer help and a lot of it. it will try to hire a quarter of a million people for the summer season and if you're a teen or young adult try using snapchat. watching a mcdonald's recruiting video will give you a link to a job application, a snaplication. and the retail woes continue. also, though, but here's the balancing part about this, job losses still happening in the workplace. children's outlet gym worry filed for bankruptcy protection and will remain in business but as the process pla

dominic chu has the names. happy birthday, dom. >> thank you very much, melissa.lly appreciate it. >> now he can drive. >> finally i can drive. but speaking about driving these guys in the driver's seat for the dow overall eight stocks like you said powering the 1,400 points the dow is up so far this year. we can show you the range we're talking about. 1,400 points like we said, 263 of them have been just apple. apple has been up a tear. also bowing responsible for that gain as well and mcdonald's rounding up the top three. the biggest drag so far from a point perspective ibm. 93 points down. we know the energy trade has been terrible and goldman sachs the biggest point detractor so far this year. a price weighted index. these are the big winners and losers so far in 2017. back over to you. >> year to date the ten-year note is down 12%. is this a bad sign for stocks? joining us is paul christopher, at wells fargo investment institute, the president of james advantage funds. james, i'm going to give you a big oh and start out with you. if we can just get started wi

oil market of the day, lets get to our dominic chu >> supply concerns again certain key marks in africaing o f the opec effect of the big one to curve protection >> you can see there are about 44 and a quarter we have seen 22 straight weeks of growth in the number of active oil rigs in usa that's helping to make energy sector like you point it out ochne of h worst in the country today >>> a major decision is coming up tomorrow. t will the ms sky allow chinese companies into its indexes when you first heard it you are like it goes in the back of your head but, tell us why it is a big deal >> indexers like msci rules the world now. right now you know only hong kong listing this stock. critics say that's a problem mainland china market is worth $6 trillion and congress hong kong >> it is been too easy for companies to hold trading in their stocks and chinese regulators limit circumstances and for how long chinese companies can hold there is another issue how much it can be taken out of the market at one time the two exchanges making it far easier to get money in and out of the mainland sto

let's head to dominic chu. >> in the entire sector, the stocks are on the highest rise jpmorgan and goldmanping to lift the dow overall. check out the ticker xlf it appears over the last three days those traders have stepped up to buy that dip guys, back over to you. >> dom, thank you. >>> workers at ups break decades of a tradition and freeze pension plans. morgan >> ups will freeze pension plans for nonunion workers and will contribute to any beyond savings employee matched the move speaks to a big trend incorporate america right now. ballooning pension liabilities and the effort to quell them ups had a nearly $10 billion pension shortfall. so in light of this, we've got more plans that are being frozen with employers shifting to hybrid pensions and defining contribution plans like those 401(k)s. from 1998 to 2015, the percentage of fortune 500 employers still offering the defined benefit plans to new hires fell from 59% down to 20%. and 39% had frozen pension plan altogether some of the names that have frozen plans kimberly-clark, boeing, aig, u.s. steel, just to name a few many companie

d dominic chu. >> thanks, tyler take a look at the sectors here. the key point is we're continuing to see mild resistance in technology for example, semiconductors are lagging a bit. biotech, which is another market leader lagging a bit a lot of talk about this rotation going on. look at the leaders in june. the big leaders have been tech, particularly semiconductor stocks utilities have done well as interest rates have stayed low overall here you can see semiconductors, biotech, utilities, all to the down side. laggards in june, the ones that have had difficult times throughout the years banks, retail and the other group overall have generally been moving on the up side banks up about 6% so far for the month of june here interestingly today, we're starting to see signs of rotation a little resistance to buying these tech names now look at the high volume etfs we've had out there recently today, we had great month for semiconductor stocks the smh high volume etfs that's to the down side. also heavy volume in country funds. italy, france and germany

. >>> welcome back i'm dominic chu.iscretionary one the. among the leaders, you have travel stocks like priceline.com, also trip adviser and expedia. royal caribbean, as well up by a percent or more at this point. sector also down for the month but this is the year's third best performer so far. but take a look at some of the retail etfs out there, all of these stocks doing their part to at least try to rebound. but remember, some of the struggling retailers have a very long way to go before we see any kind of improvement from their performances many them still hovering near 52 week lows that's it for this hour "squawk on the street. back downtown for the start "squawk alley. back to you. >>> thank you, dom it is 8:00 a.m. in oakland, 11:00 a.m. on wall street. and "squawk alley" is live ♪ >>> good tuesday morning welcome to "squawk alley." big tech is on the rebound on after taking a tumble in the

. >>> dominic chu a quick market flash. >> watching signet jeweler shares down 2%. in a regulatory filing its c.o.o. brian morgan resigned from the company because of somery violations at signet unrelated to financial matters, came out in a filing after yesterday's closing bell. we'll watch the shares closely. the shares down 45% already year-to-date, one of the worst performers in the s&p. back to you. >> dom, thank you very much. >>> when we come back the big apple unveil, what the street has to say about the latest innovations at wwdc and the impact on the stock. amazon meantime announcing individuals on government assistance can now get prime at a special price. got details oen that, when "squawk on the street" continues. the doughnut in a doughnut in a doughnut. right away, it was a success. i mean, it really took off. what people don't know is that it all started with points from my chase ink card. i bought the ingredients, utensils, even custom donut cutters. wow! all with 80,000 points. what will you create with your points? learn more about the ink business

dominic chu knows the answer and he's here. >>> the one-week performance, you are seeing a rotation. we're not going to call it a great one because it's subtle. take a look at this because over the last week the bank stocks, the beaten up financials are up 3% one of the real bright spots in one week also energy stocks we know how badly it's been for them 2% upside there and it's coming out of, as sara and brian mentioned, two of the hardest hit sectors out of here into the underperformers over the course of the past week the outperformance of the s&p 500 and technology, well, it has been technology all year so far but take a look at the big drop on the right-hand side we he are seeing real weakness on a relative basis. we'll see if that trend continues. the deeper discounts, take a look at some of these stocks they are well below their 52-week high that's bear market so, guys, brian, the technology secotor right now about 16 or 17 of them already so far in correction territory >> you do know the answer, dom chu always money big money advice on what is best for your investments now jo

let's get back to cnbc hq and dominic chu.ome out here from the blackrock board of directors saying that john varley, the former ceo at barclays, has now stepped down from the blackrock board of directors chairman and ceo larry fink of black rock said he's served it with a vote of distinction and blackrock and its management team have benefited greatly from its contributions and i feel privileged to count him as a friend this, of course, comes as the uk's serious fraud office has charged mr. varley and some other executives at barclay's former executives with conspiracy to commit fraud and with receiving unlawful financial assistance so the latest development here. he steps down. varley was a part of that block rock board upon black rock's completing acquisition of then etf and funds management back over to you. >> here's also a senior independent developer of rio tinto and stepped down from that board position earlier today this is certainly going to hurt his reputation. >> taken nine years. >> finally some executives in this

i'm dominic chu. cautious you can see telecom, utilities and real estate driving the trading today so far with the markets down in early trading any way. and that does it for this hour of "squawk on the street." let's send it back downtown for the start of "squawk alley." back over to you guys. >> all right, thank you very much, dom. good morning it is 8:00 a.m. at apple headquarters in cupertino, it's 11:00 a.m. on wall street and "squawk alley" is live ♪

let's get over to dominic chu. >> as we talk aabout a lot of cancer stuff, this is not cancer related therapeutics that specializes in nervous system disorders. this after the company presented some positive phase three study results of one of the drugs its developing to treat a form of parkinson's disease, specifically a part of parkinson's disease which occurs in off periods for patients, that is the reemergence of certain symptoms of parkinson's disease. the reason why it's important here for them is because accord da shares have lost about half their value over the course of the past 12 months. about 20% just year-to-date so far. according to at least the studies they presented, guys, it looks like a positive result for one of their drugs and it's helping the stock up by 15% in the after hours trade. back to you guys. >> hopefully it will help parkinson's sufferers. thank you. >>> apple announcing new hardware and software today at its developer's show. let's get back to joshua lipton. >> all new versions of apple's operating systems on the way including ios 11. >> now today, we'r

. >> apple is not on there anyway, dominic chu joins us with a look at the sectors getting hit the hardest. >> if you take a look at the heat map, there is not a lot of green, but there are still slivers, two of them right now financials, a story line all day. we're actually starting to see a little bit of a rebound overall in the s&p 500 just off the lows. energy as well those two sectors, the only ones in the green, if you take a look at this here, technology staples and real estate, worst performing sectors overall technology certainly one of the worst performing sectors in terms of the overall scheme of the market today and those big mega cap stocks have a big part of that. if you take a look at sol of the sector etfs at play here, the tech sectors spider, the xlk, that's the ticker, up by 1.5%. the consumer staples xlp and xlu which is utilities, these four sectors spider etfs as of about five minutes ago traded well in excess of the average trading volume over the last 90 days we're not even over with today yet. this is where the real heat is overall in the markets to put a point on

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. >>> let's go now to cnbc tea's dominic chu and the breaking news this morning that uber is lookingat's the big breaking news this morning. the story was first reported by "the new york times". it says that kalanick was facing a lot of pressure from investors in this privately held company to step down, a company that's, by the way, worth nearly $70 billion. uber has been dealing, of course, a number of missteps lately, including fighting allegations of sexual harassment, gender bias, intellectual property theft, and that's just among others here. kalanick has also been mourning the death of his mother after a tragic boating accident last month. while travis kalanick is stepping down as the ceo of the company, he's going to remain on the board of directors and in a statement, kalanick said that he loves uber more than anything else in the world and really wants to remove himself as a distraction. but, of course, this just the latest development here. in uber news here, as well, guys, the company announced that it's going to try to mend relationships with some of its drivers by rolli

chu >> great investment rite? >> yes, exactly. >> 62 washington. guess what low 80s today, sunshine, bright, beautiful, low humidity, look how quiet the radar is, high pressure backing us to virginia and that dominateocal weather today and deliveries a perfect afternoon. low humidity, heat back tomorrow. that storm looks like it's saturday. >> no rain on zip trip friday. >> we had to reenforce that. >> rain. >> last friday. >> breaking news story this morning including amtrak. two people hit and killed by a train late last night just before mid might. right now amtrak service for the investigation is us is spended between d.c. and philadelphia and we'll have a full look at delays as well as impact on the marc, penn and camden linesnd this morning a live look and serious investigation underway and on the roads the freeway all backed up because of construction main avenue and get to road delay as well. keep it to fox5 we'll you have back in a couple momen [ indistinct chatter ] [ intense music playing ] it's here, but it's going by fast. the opportunity of the year is back: the mercedes-benz summer event. get to your dealer today for incredib