eamon javers has the news. hi, eamon. >> reporter: tyler, reporters are in the oval office with the president now. the president has been talking about china tariffs. he says that china has been taking advantage of the united states for many years. he says we're in a very strong position maybe something that will happen, he does suggest that he will be meeting with xi jinping at the g-20 in osaka, japan, next month, and that's something that's been in doubt not officially confirmed that the president suggesting he will be meeting with the leader of china in japan next month and also saying that i love the position that we're in we, being the united states, in terms of the trade war situation. he says, a small portion of the billions that the u.s. treasury is bringing in from people paying the tariffs will go to the farmers. he said they'll take about $15 billion and do, quote, something for farmers to offset some of the damage they've seen from retaliatory chinese tariffs. the president also saying we do much le

eamon javers at the white house. thanks, eamon. >> you bet. >> also in issn washington, it shed some light on two critical issues for the market, inflation and interest rates. steve liesman has the details. >> minut of the fed's april-may meeting show the central bank is ready patient with its policy of patients when figuring o what to do next with interest rates and the open market committee says the patient approach is appropriate for some time and it's the first time they characterize the time period arou their patient's language. committee members believe the most likely outcome is a continued economic expansion. strong labor markets and inflation rising back towards its 2% target and inflation running below that target and the question is whether officials are concerned enough to cut rates. the answer in the minutes, not yet, but maybe soon. some officials say the downside risk has increased and several said they're worried that ifin ation doesn't head back up in coming quarters they're worried that average ameri

. >> indeed, kayla, stay there unless a source gets back to you but let's bring eamon javers into this conversation as well i wonder about the timing of this, eamon? >> in the short-term, we expect the president will address this at the top of his remarks. he's speaking to the realtors here in washington, dc we thought this was going to be the president talking about the economy but now i believe he will begin his remarks about steel and aluminum and the timing, fascinating question because of the politics of all of this. at the same time, the president is able to pull these tariffs off and make it more likely that we get usmca deal finalized internationally and worrying about the domestic politics with democrats on board with the usmca here in washington and this move today might give the sense to democrats on capitol hill that there's real momentum here and ultimately, this is something they should be on board with because it's going to be good for the economy and too disruptive if they don't move forward with it. focus on just one front, on his negotiations the brush fire breaking o

eamon javers today with the vice president.on the fed and this month's strong jobs number, we're joined by jan hatzius at post nine. welcome back >> nice to be here. >> the jobs number first what was your expectation, your reflections on the print >> we thought 195, so clearly an upside surprise and it is actually difficult to poke holes in that report we would take it largely at face value. the only caveat being that month to month these numbers are no y noisy, but wasn't anything that jumped out that said there are big distortions here strong payroll number. household was more mixed big decline in the unemployment rate, but that was driven on the month by a drop in labor force participation. >> there had been some people, high frequency, looked at census bureau hirings you discount that? >> i don't think that happened federal government was up 12,000 and that's -- the category where they would show up and it is not really credible that you got a big decline somewhere else because there wasn't a big reason for it. i don't thin

minutes left to trade. 19 minutes and we are higher but we've given up some of the steam following eamon javers'seport after the president's tweet about half an hour ago was encouraging that the tariffs perhaps could be removed at some point whereas eamon made clear that there's no plan for when the next stage of talks might happen and we've given up some of the gains that we had -- >> so hard to read between the lines. that doesn't mean it's a breakdown of talks but -- >> still well off the lows dow's up by 85 it was up by 150 but the low was down 350 >> up next on "closing bell" we're going to dive into uber's first day of trade with new york stock exchange president scetay cunningham she'll weigh in on today's move and how the exchange land the biggest ipo of the year. >>> uber stock is trading lower by some 8% at the moment not quite the low of the session. brief hit right at the open below that but it is close to the low of the session on its first day of trade. the largest ipo of the year. the 10th largest ipo in history in the u.s earlier uber ceo dara k khosrowshahi appeared on cnbc descr

eamon javers is live with action and reaction. >> right special counsel broke his nearly two-year silence in public on this issue, and now the debate is raging in washington over the potential impeachment of a president of the united states, a number of democratic presidential candidates coming out this afternoon saying they are now for impeaching the president. robert mueller, though, special counsel, made clear that he was not able to exonerate the president on the issue of obstruction of justice when he conducted his investigation, but due to department of justice policy he never considered indicting the president. here's what he said. >> if we had had confidence that the president clearly did not commit a crime, we would have said so. we did not, however, make a determination as to whether the president did commit a crime >> for his part the president is declaring victory issue as tweet saying nothing changes from the mueller report insufficient evidence and therefore in our country a person is innocent the case is closed thank you. now the political case is very much open for nancy p

no indication that is actually on the schedule for now. >> thank you eamon javers at the white house. >>> for more on the intraday turn around let's go to bob pisani >> you can see how confused the traders are based on what eamon was saying look at the chart. four different market moving trade headlines. the futures move down about 15 points before 5:00 a.m. on word that china backtracked on nearly all aspects of the trade deal then it rose more than 10 points on president trump's tweet just prior to the open. then it rose another 12 point mid-morning an sarah sanders' comments the market dropped about the european close on another headline about possible retaliation from china which is it? we don't know. the problem is there's three obvious outcomes a trade deal of course, that would make the markets happy, or no trade deal, but no increase in tariffs and talks continue that would probably be okay for now. and then no trade deal tariffs increase everybody goes home angry and the markets are not going to like that. trying to price in the probability of a trade deal proving to be very

let's bring in our eamon javers from the white house where he got to speak with the president earlier today. eamon? >> reporter: that's right, tyler. despite all that constructive dialogue and progress you heard administration officials talk about in that clip, we haven't gotten to the point where we've got a trade deal the president, today, placing the blame for that squarely on the chinese side here's what he said. >> we can't just make a good deal and i told that to president xi but we had a deal that was very close and then they broke it. they really did. i mean, more than just renegotiate. they really broke it so we can't have that happen. >> reporter: the president ultimately saying he likes the position that the united states is in economically right now and he was asked if we're winning the trade war and he said yes, we're always winning, tyler. >> thank you very much eamon javers on the north wall. >> in the meantime, president trump again putting pressure on the fed in a tweet today said cha china pumping money into their system and making up for the business they're losing.

deems to be a threat. >> eamon, thank you. >> eamon javers at the white house. when you hear this, these tensions are ratcheting up, in terms of huawei. do you think the trade war is going worse than expected? >> sure. you have to. think about it threats against communications technology that quote, that is the root of a lot of this trade war. this isn't about farmers and ag exports and this is not about autos and it's about technology, intellectual theft and intellectual property and the new world order. think about the last time -- not the last time, but think about when we ruled against the chinese buying unocal and we thought natural resources were a national security issue and that was again an edict that came from the white house amazing how times have changed, but it's the same thing and i think this is the root of this trade war. >> the cfo being arrested and -- >> right >> it doesn't help ratcheting up the tension. i don't really get the strategy here of what seems to be just kind of spraying gun fear and then trying to pull it back. i don't really get

eamon javers is live at the white house with the very latest eamon. >> reporter: kelly, we're told it's full speed ahead here for a tariff increase later this week. at 12:01 a.m. on friday. we're also told that the u.s. trade representative plans to file a federal register notice later this afternoon that would be published later in the week it will go public on their website. that will trigger the official behind-the-scenes process to make that tariff hike happen on friday it's all contingent, of course, on how the negotiations go over the course of the rest of this week, and we are expecting liu he, the top-ranking chinese officials in these negotiations, just below xi jinping himself, of course, to be here in washington to continue those talks through the rest of the week so, we'll see how that goes. and we got this briefing late yesterday from lighthizer and mnuchin, the trade representative and the treasury secretary, explaining what was behind the president's tweets on sunday that rattled the markets so much. they say that the chinese side walked away from certain commitments that

our eamon javers sitting down with the vice president of the united states earlier.nes us now with more on the interview. >> a fascinating sit-down with the vice president this morning. i have been talking with his staff since we did the interview and getting more nuance here on what his proposal is here to get rid of the dual mandate at the fed. it is just an idea he is discussing receipt now what he would like to do is focus just on inflation rather than on unemployment the idea here being that if inflation is low, the fed should be able to just let it rip, basically, and not worry so much about employment that's the opposite of what i said earlier because of the way the conversation flowed. but his view is that if you focus just on the idea of inflation, ultimately, you can have a much higher economy for everybody and the fed has a lot more leeway. it is an idea he kicked around in congress years ago and it is an idea he is still didn'ting today. something to watch also interesting was our conversation about herman cain and steven moore, the president's two picks

sarah sanders you just saw with eamon javers standing in the driveway at the white house saying oh, wee indications that chinese delegate is coming to make a deal maybe she's echoing the president's comments, but we move up another 10 or 15 points. if this is not confusing to the markets i don't know what is hopefully we'll get some resolution in the next couple days you see the usual trade and tari stocks and your my krons and qualcomms and best buy and others have moved out. everybody trying to gain this. three outcomes, the trade deal gets done, everyone is happy no trade deal and no tariff increase but continue with negotiations or number three, no trade deal, the tariffs increase and they go home angry and we go home angry the market would be okay with the first two probably, including the second one, and not okay at all with the third one. that's why nobody is trading they're standing around to figure out when will get we a resolution. >> i get the implications an the gravity of the situation where the u.s. and china are concerned, but we have this other major geopolitical situat

let's get to details now from cnbc's eamon javers. what are your sources inside the white house telling you? the white house likes the chinese coming this week. >> reporter: the most important thing people inside the white house is saying he's a president who views the stock market as a barometer of his success. unusually sensitive except on this issue, except on the issue of trade which he views very much core to his political views. he's willing to take more stock market pain on the trade issue in the short term if he feels it's getting him to his longer term goal of re-setting the u.s. relationship on trade with china. that means that wild ride we saw yesterday in the stock market after the president indicated that the talks might be hitting a rocky patch, we saw nearly 500 point swoon in the dow yesterday morning. rallying back throughout the day. that's another thing on the issue might get the president's attention. on this one he's not going to be moved by the dramatic stock market moves. >> what does the president care about mo

eamon, thank you eamon javers, north lawn of the white house. this tweet from china state media and maybe this boils down to the most important conversation that we need to have around the table as investors and analysts they say, "the trump administration has been constantly deceiving investors they need to mentally readjust themselves far more than chinese investors do, which is likely to result in even more volatility in the u.s. market." what do we take from that? >> we take that china does not have elections, maybe not ever again, and they understand what the vulnerabilities are of people who are up for election here and they also understand that the wealth effect is critical for things like business confidence and consumer spending and if they can rattle the stock market, they look at that as possibly a win or maybe that's just what they want to project. who knows. but they get the game. they are following me on twitter and consuming our media and they understand everything that's happening here they're very, very wise. they also can defin

, national political reporter forco "poli abby phillip, white house correspondent for cnn, and eamon javers, washington correspondent for cnbc. peter wrote about the president's strategy in friday's "tes." his bottom line, mr. trumpem is daringrats to impeach him. the message from the west wing, or shut up, impeach or move on. peter, you've written aook, "the breach," about the clinton impeachment. you'veau cored a book about the impeachment process. when democrats talk about a constitutional crisis, one, are we actually at that moment? and is this battle any different than things we've seen in the past i oneachment and the efforts to move towards there? peter: it's a great question. i don't kno if we're at a constitutional crisis. we're certainly at a confrontation. we may geto a crisis if a court were to weigh in and someone were not to obey the lawful order of a court -- that uld be arisis. we're seeing what we've seen in the past on steroids. in the past we've had presidents who defied or resisted congress when they tried to subpoa things, when they tried to solicit testimony that the p

. >> you said those talks could be fruitful, eamon, thank you allen javers at the white house. the s&p 5% off highs and dow and nasdaq 6% off high, back in correction territory, down more than 12% is the trade war really to blame for all of the selling, or was the market primed for this pullback >> i would say the latter. i think the market was primed for this pullback. with that said i think it was primed the last 2 1/2, three weeks. but here we are now. a couple things, the technicians and carter practice worth is a tremendous one you have a huge potential for double top in the s&p. in other words traded up there in september 29.40, traded all the way back down in december, we basically went right back and failed for technicians, that's a very bearish signal i think it's room to the downside i think the vix at 21 is still too cheap. if we do the math from december 24th low to recent high, a 50% correction, which is normal, gets you to about 2650 on the s&p, which about 5 1/2% to the downside. >> this was an excuse to sell? >> i believe --ly say this again, i don't think the c

. >>> president trump about to unveil more details about immigration plan eamon javers is live at thete house for those remarks that will be made shortly. eamon? >> reporter: that's right. we're expecting the president here any moment and what he's going to lay out here is an entirely new approach in the united states to immigration aides have been working on for a couple of months, they briefed us yesterday the president wants to move away in terms of legal immigration to a family-based system in which it really matters if you as an immigrant have family members already in the united states to what they call an education and merit based system in which, citizenship applicants would really get points for different levels of education attainment, career opportunities, education, english proficiency and the like they'd like the immigrants who are applying for citizenship to have, for example, a job offer inside the united states they want, they say, to push the population of imdwranmigrants u educational and income ladder, so a higher educated, higher income group of people this is sile

eamon javers has it. >> this news coming from a courthouse in manhattan where a judge has just ruleduit that deutsche bank and capital one may go ahead now and comply with a subpoena from congressional democrats to turn over financial records relating to president trump the trump organization and the trump family you remember that the trump family had sued in court to block that subpoena. they said this subpoena was simply overly broad. just a fishing expedition by members of congress. the judge disagree with that argument here as a separate judge already did earlier in the week in a related case involving the trump organization accounting firm. so now it would appear that both the accounting firm and the two financial entities will be giving these documents over to democrats on capitol hill. that's pending any appeal that might happen in this process but deutsche bank and capital one told by a judge they can turn those records over to democrats on capitol hill, guys. >> eamon, thank you. >>> market cap of $15 billion. only a record lower close today. so pressure no doubt on their bo

trade was a big topic of conversation eamon javers joins us with the headlines.good morning, becky that's right, trade was a big topic of conversation, but not a whole lot of specific developments out of the weekend in japan the president spent memorial day weekend in a mostly ceremonial role in japan, playing a little bit of golf with shinzo abe, the leader of japan, and also having some ceremonies relating to the imperial family there. and of course, this moment, presenting the sumo wrestling championship trophy to the championship sumo wrestler there, and then, of course, meeting the new emperor and the new imperial family in japan over the weekend the president was able to offer some thoughts, though, on exactly where things stand in terms of negotiations with china while he was in the neighborhood here's what the president had to say. >> as far as china's concerned, they want to make a deal i think they probably wish they made the deal that they had on the table before they tried to renegotiate it they would like to make a deal we're not ready to make a deal

. >>> and a programming note -- our eamon javers will sit down with vice president mike pence at 9:30llowing the jobs report. should be some venezuela, jobs, should be wide-ranging st ted you're watching "squawk box" on cnbc we're finally back out in our yard, but so are they. scotts turf builder triple action. it kills weeds, prevents crabgrass and feeds so grass can thrive, guaranteed. our backyard is back. this is a scotts yard. i like to make my life easy. ( ♪ ) romo mode. (beep) (bang) good luck with that one. yes! that's why i wear skechers slip-ons. they're effortless. just slip them right on and off. skechers slip-ons, with air-cooled memory foam. >>> some news just out from marriott the company says ceo arne sorenson has been diagnosed with stage two pancreatic cancer. sorenson says the cancer was found early, it has not appeared to spread. he will continue in his job while undergoing treatment, which will begin with chemotherapy and then surgery is anticipated near the end of 2019 he says the cancer was discovered early it doesn't appear to have spread, and "i and my medical

eamon javers joins us live as i read this, this began when the speaker said that mr. trump was engaging in a coverup, and that did not sit well with him as one might expect it wouldn't. >> yeah. that's right officials here say that once nancy pelosi said that up on capitol hill, that's when they decided that this meeting was effectively not going to happen. the president was going to walk in, tell them how he felt, and walk out and that is apparently what he did. the whole thing lasted less than seven minutes. i got a text from a senior administration official that provides important clarity here on what the president is threatening to do here and not threatening to do. because there was some question after the president said this that you can't legislate and investigate at the same time was he saying he was not going to work with the democrats on any legislation at all this senior administration official just texting me sale -- ceiling is a must pass that's important they've got this debt ceiling negotiation that's been ongoing in an effort to get to a two-year budge

. >>> first up, though, president trump laying out his immigration plan let's go to eamon javers at the white house with what we've learned so far >> the president just wrapped a speech in the rose garden a few moments ago in which he laid out his plan for legal immigration into this country, saying that we need the move, the pull of immigration applicants up the income and education chain to accept people who score points on an immigration test based on their achievements in english proficiency, also their achievements in career goals and the possibility of having a job offer here in the country. the idea, he says, is he doesn't want immigrangrants coming in a low end of the economic spectrum competing with americans who are already at the low end of the economic spectrum and displacing them from jobs the president said this is a proposal he hopes will be embraced by democrats. there's not any indication really on capitol hill that that's the case. and clearly this is a proposal that's going to be drawn into the election season in 2020 as democrats and republicans square off on this is

. >> sure, eamon, thanks very much, eamon javers at the white house. >>> the u.s. and china are leaning into hard line stances against one another and that has wall street hunkering down for what it feels could be a prolonged trade war. the major average is down over 1.5% and the nasdaq nearly 2%. same for the small cap russells. more than half of the s&p 500 is in correction territory down 10% from recent highs. joining me to talk more is jason trennard and joe lavornga, chief economist and cnbc contributor the fascinating thing about the trading action today to some extent this week is that there's been an absence of real noise. every headline is about the 25-year tech war with china. >> the president doesn't have a lot of incentive to deal the economic numbers are quite good there's a sense that perhaps the economy is peaking too early from a political point of view, so there's incentive to wait there's more bipartisanship on trade i think than people had thought. last week, steve cannon and tom friedman bhaskcally singing from the same himm hymnal and the mas t

markets shook off trade fears yesterday but those concerns are weighing on stocks big time today eamon javers is in washington, the state of play at this hour eamon? >> reporter: no comment from the white house on this 500 point sell-off we see on the dow just now. we'll wait and see whether that picture changes throughout the course of the afternoon but where we are is where we started the day here in terms of trade yesterday we had a briefing from key trade figures here who suggested that it was the chinese who were the ones who were walking back from commitments they had made in writing during the course of the negotiations on a possible trade deal that's what the white house says prompted the president's tweets on sunday that really rattled the market, no indication that anything has changed since then. we are told that we are still on track now for those tariffs to go into place at 12:01 a.m. on friday morning so bear in mind that the president has walked away from these tariff threats in the past but right now, we're told they're set to move forward with the filing to the federal regist

eamon javers is live from the white house. eamon? >> melissa, that's right i sat down with the vice president earlier this morning just next door in the eisenhower executive office building. he said something interesting. remember, this is an administration not shy about telling the fed what it wants the fed to do in terms of cutting interest rates but also said he wants the fed to consider reversing its dual mandate and going with just a single mandate here's what he said. >> back when i was in congress, we had a whole debate about the dual mandate of the federal reserve and it might be time for us to consider that again. the fact that the fed looks at full employment and monetary policy and inflation, and instead, by just looking at inflation, you make clear, there's no inflation happening here the economy is roaring this is exactly the time not only to not raise interest rates but we ought to consider cutting them >> reporter: so the idea there from the vice president is that reframe the dual mandate to a single mandate, looking a

. >> eamon javers. >>> coming up, two stocks making big moves today. tesla higher as the company raises cash and underarmor raises guidance. is today's gain just the beginning? we'll ask the "trading nation" team the dow down 1% or about 250 points right now down 150 we're back in two. uh-oh, looks like someone's still nervous about buying a new house. is it that obvious? yes it is. you know, maybe you'd worry less if you got geico to help with your homeowners insurance. i didn't know geico could helps with homeowners insurance. yep, they've been doing it for years. what are you doing? big steve? thanks, man. there he is. get to know geico and see how much you could save on homeowners and renters insurance. you inspired us to create internet that puts you in charge. that handles anything. that protects what's important. and reaches everywhere. this is beyond wifi. this is xfi. simple, easy, awesome. here'sshow me making it. like. oh! i got one. the best of amy poehler. amy, maybe we could use the voice remote to search for something that you're not in.

eamon javers is live at the white house with where things stand. >> reporter: yeah, we're getting some positive vibes here from the white house, but not a lot of specifics in terms of exactly what is going on behind the scenes you saw the tweet from the president this morning in which he said that they had just gotten some indication from the chinese side that the chinese vice premiere is coming here to cut a deal he said that they, the chinese vice premiere, are now coming to the u.s. to make a deal. he also caveated in that though saying we'll see, but i'm very happy with the tariffs as they are. so i asked sarah sanders, press secretary, on the driveway here a while ago what gave the president the view that the chinese are now coming to make a deal as opposed to walk away from a deal. she said that they have gotten at the white house some indications that the chinese are serious about a deal, but she didn't say what those indications are. so we really are left a little bit in the dark here meanwhile behind the scenes they do continue to tick forward in terms of the tariff clock for

. >>> welcome back quick programming note, don't miss eamon javers interview with vice president mike. that's tomorrow talking trade and they'll be on at 9:45 a.m. on squawk on the street. time for the final trade around the horn we go. >> there hasn't been the disruption trade that we were talking about, but electronic arts and gaming continue to be a place where you want to be investing in these valuations. electronic arts. >> grasso. wrk, i bought it yesterday and it's been under pressure and it's about ready to turn the corner wrk. >> careekaren? >> cbs light on earnings any i like the valuation here, and i do think there is likely a merger in the works. cbs. >> intel if you liked it back in february at 50 you would probably like it back here again and it's a good level. >> that does it for for more "f" jim cramer and "mad money" up next >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there is always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome t

have to choose between investigating him and working on the country's priorities let's get to eamon javers with the latest at the white house. >> moments of high drama at the white house. i'm told the president walked into the cabinet room, told the democratic leaders he was frustrated with their continuing investigations of him, and said he wouldn't be able to work with them if they continued to investigate and turned around and walked out the whole thing, i'm told, was about seven minutes long afterward the president assembled all of the press corps in the white house unexpectedly in the rose garden with a few minutes' notice. a little chaotic here for a couple minutes the president came out and explained what just happened behind closed doors. here's what he said. >> i walked into the room and i told senator schumer, speaker pelosi, i want to do infrastructure i want to do it more than you want to do it. i'd be really good at that that's what i do but you know what, you can't do it under these circumstances so get these phony investigations over with >> kelly, the president's remarks we

and on that note, let's go to the white house where eamo eamon javers has been standing by what's the latest as you see it? >> when you talk about this president you have to talk about a president that uniquely among his predecessors views the stock market as a barometer for how he's doing in office but with one important exception. and that is on trade officials around here have told me for a couple years now that the president's very sensitive to stock market moves on all issues and will react to them, except on trade where he's more focused on his long-term goal of resetting the relationship between the united states and many other countries, especially china, than he is on short-term stock market performance so officials here this morning, when the futures were down 500 points talking to people in the west wing and they were saying they did not expect to see the president zigzag back again after his tweets yesterday in reaction to that stock market move he's willing to take some short-term stock market pain in order to get to where he wants to go. that's the read from a lot of fol

pence voicing concerns about the fed and the direction of interest rates in an interview with eamon javers earlier today he explains why it's time to reconsider the fed's dual mandate. >> back when i was in congress, we had a whole debate about the dual mandate of the federal reserve, and it might be time for us to consider that again, as -- >> consider what >> the fact that the fed looks at full employment and monetary policy in inflation, and instead, by just looking at inflation, you'd make clear, there's no inflation happening here, the economy is roaring this is exactly the time, not only to not raise interest rates, but we ought to consider cutting them. >> let me bring in joe livorna, chief economist, and craig callahan, president of icahn advisers great to have you here joel, first, this idea of doing away with the dual mandate to purely focus on inflation. the ecb does it. >> yes, and arguably, they have less ability to respond to shocks and inflation doesn't allow you to ease, but i have a better idea, kelly maybe go with a more rules-based approach to monetary policy. >> uh-oh,

deal, a very good deal, they broke it, more than renegotiate, they really broke it and adding, eamon javersbigger economy than china if he had said otherwise that would have been very big news. >> reporter: that's right, carl, i had the opportunity to ask the president two questions. one was i asked him if he was surprised by the chinese retaliation in terms of trade on monday he says he wasn't surprised by that although it came very shortliy lafter china tweeted tt he should not retaliate. then i asked him about the $325 billion in tariffs which is just pending on the horizon, he said we're looking at that strongly, so no commitment from the president to impose additional tariffs on the chinese then he was asked if we were winning the trade war, and he said, you know what, we're always winning this was the president trying to project strength in the midst of what he calls a little squabble with the chinese, carl >>y mond eamon, he seemed to deh times" reports about plans to send 100,000 troops over there >> but at the end he said, if something really happens we'll send far more than that.

jimmy, elon, and eamon javers. after the break, mcdonald's latest innovations in tech an exclusive with steve easterbrook as the market not really swayed by the mueller statement. down close to session lows dow is down 236. we're the slowskys. we like drip coffee, layovers- -and waiting on hold. what we don't like is relying on fancy technology for help. snail mail! we were invited to a y2k party... uh, didn't that happen, like, 20 years ago? oh, look, karolyn, we've got a mathematician on our hands! check it out! now you can schedule a callback or reschedule an appointment, even on nights and weekends. today's xfinity service. simple. easy. awesome. i'd rather not. >>> welcome back to "squawk alley. we have the dow down 233 points. weighed down most by nike, bank of america, health technology stocks overall in the index, weighing this down as well as consumer non-durables. s&p also down almost 1%. we'll see where things go from here. >> we had a chance to catch up with the ceo of mcdonald's this week, steve easter

. >>> we will continue to follow that story but let's get to eamon javers at the white house with a news alert. >>> the usda putting details around the program that will use government money to pay farmers who have been hurt by the trade war. that retaliation from china. usda saying in a conference call that just wrapped up a couple minutes ago, it's going to be a $16 billion program here to aid farmers. and it's going to be divided into three different parts, $14.35 billion in pacemenyments producers, $1.4 billion in distribution, $100 million in trade promotion assistance the money is going to go to the recipients at three different times over the coming year first trurj july and august. second in the late fall, perhaps november and then the third will be possibly early 2020. the government acknowledging here that the money is not coming directly from tariff revenue, it's coming from an existing program called ccc. but ultimately the usda and white house are arguing that what this is is tariff money being paid by importers, being transferred to the treasury and being transferred to far

been here's gundlach talking about the vice president's interview on this network on friday with eamon javers >> mike pence got up and said, and i know he was just doing this because trump wants him to, but he said, our economy is roaring. this is on friday after the jobs number roaring. and then the next breath, and we should cut rates 100 basis points >> he did that with our aimeamos on this network. >> which is is it, man if the economy does print a negative sign and trump can't get away with it which i don't think he will, blaming it on jerome powell, he can't brag about the economy anymore. that's what he's about is bragging about the economy you know, he keeps talking about how the jobs have never been created so much, like ever in history, except for one little fact, if you take the number of months that trump's been in office and take the average nonfarm payrolls and compare it to the same number of months at the end of the obama presidency, there were more under obama, not by a lot but there were more it's just unbelievable the twilight zone that we're sort of living in. >> do you wa

and then the next breath -- and we should cut rates 100 basis points -- >> he did that with eamon javers network. >> which is it, man? is the economy roaring or do we need hyperstimulus i guess they want both until you can go into a modern monetary theory thing but there's a lot of economic time between now and january, and things can definitely change think of how radically things changed in the fourth quarter. so, here's what i'm going to say. if the economy does print a negative sign and trump can't get away with it, which i don't think he will, blaming it on jerome powell, he can't brag about the economy anymore. that's all -- that's what he's about is bragging about the economy. you know, he keeps talking about how the jobs have enter been created so much, like ever in history, except for one little fact -- if you take the number of numbers trump's been off, take the average nonfarm payrolls and compare it to the same of the months under the obama presidency, there are more under obama, not a lot, but there are more it's unbelievable the twilight zone that we're sort of living in, w

our eamon javers joining us from the white house with more. >> good morning, sara.tirely unexpected and comes at a pivotal time in washington as democrats have really been on the fence on the issue of impeaching this president of the united states. anything robert mueller says here publicly could tip the balance on that decision one way or the other it bears watching this morning a senior administration official, though, tells me it was not entirely unexpected inside the white house the administration was given a head's up by the department of justice last night, i am told. the special counsel robert mueller would be making this statement today. now the question is, what is he going to say we don't know the answer to that it's not clear whether the white house knows the answer to that up on capitol hill they've been wrangling with mueller about whether or not he will appear publicly to testify on capitol hill and answer democrats' questions about the president's conduct. we are told that in this set of remarks that he's about to make at the department of justice, he

eamon javers is at the white house with more. >> a morning full of news on the trade front here we started off with thistweet from the president earlier in the day in which he said he had new information that the chinese side was coming to washington this week in order to make a de deal that gave investors a little bit of optimism this morning sarah sanders came out and talked to reporters after that i asked her where the president got that information, what was behind that tweet. she said they have some indications that the chinese side is coming to make a deal. but she didn't say exactly what those indications are. so that's sort of where we're left here with the expectation that liu he and the chinese delegation will be in town tomorrow to conduct last-minute negotiations before those tariffs go into effect at 12:01 a.m. on friday morning that notice has been posted on the federal register that process is under way, unless something dramatic happens in those negotiations tomorrow so that's where we're going to be watching all of this unfold no word from the white house as of right now a

eamon javers has the details. >> sarah, until now, white house officials have been very clear when they huawei action they've taken on national security grounds not necessarily related to the trade fight that's going on. it's coincidental it's happening at the same time, but the president was just asked in the white house a few moments ago about the huawei tension and the chinese trade negotiations and whether there's a prospect of a deal he linked, for the first time, i believe, the huawei and trade. here's what he said. >> it's probably a good possibility. i don't know how janet can do this because i'll be honest. we're getting hundreds of billions of dollars brought in to our country, but huawei is something that's very dangerous and what they've done from a security standpoint and from a military standpoint. it's very dangerous. it's possible that huawei even would be included in some kind of a trade deal. if we made a deal i can imagine huawei being possibly included in some form of or some part of a trade deal how would that look? >> it would look very good for us >> how would you

eamon javers has the details >> the president signing an executive order here the press secretary puttingtatement. this focussing on communications inf infrastructu infrastructure let me read you some of the text of what the statement from the press secretary saying that the president signed the executive order entitled securing the information and communications technology and services supply chain. this is part, the white house says, of the president's commitment to protecting information and coms technology. they're saying the president here is declaring a state of emergency, a national emergency with respect to the threats against information and communications technology and services in the united states delegating authority to the secretary of commerce to prohibit transactions posing an unacceptable risk to the national security of the united states or the security and safety of united states persons. so clearly that is an executive order that will be looked at, scanned in china and other foreign capitals around the world as foreign companies figure out what it means for them in ter

. >> rick, was the viept in his interview with eamon javers earlier today, was he right to be celebrating the state of the economy and at the same time also saying we should get a rate cut? >> well, i agree with the first half wholeheartedly. the second happen makes zippo sense to me. listen, i understand in the political arena, whether -- no matter what administration, the people they send out when numbers are good talk it up. i get it but it just is completely incongrue incongruent. as a matter of fact, i would frame it this way. many people berated the december rate hike and they said jay powell, you know, bad thing, we need to take it back let's really look at the facts last friday we get 3.2 for first look at first quarter gdp. today we get 263,000 jobs. most think the number should be closer to 100,000. and 3.6% unemployment, the best since november of 1969 you know what that tells me? that tells me that many were fearful toward september of last year the fed would be more aggressive the december rate hike in my opinion especially through the positives of hindsight doesn't look like

political implications here in the united states as well, sara >> eamon, thank you very much for that eamon javers in washington let's drill down on a rare winner in today's session. beyond meat surging in its first day of trade frank holland is at the market site with the details. >> investors clearly have an appetite for this plant-based meat alternative company beyond meat the best performer in the nasdaq today. shares surging about 170% since this ipo launched just about three hours ago. beyond meat's also one of the most heavily traded stocks in the nasdaq just about 20 million shares changing hands so far. beyond is best known for its burgers but it also offers a sausage alternative and has plans to roll out even more products later on this year. you can find beyond meat in about 17,000 retail locations across the country like whole foods and target it's also served in restaurants like tgi friday's. it's pretty easy to find but the tough question for investors, can beyond become profitable strong start to this year in q1 sales tripled. in 2018 sales grew by 170% but in 2018 and 2017 the comp

he is getting ready to leave for colorado where he will be addressing the air force graduation eamon javersmportant thing he was saying for our audience might be related to china and that he thinks they want to do a deal. >> yeah, he's said that before and he continues to say that there is no real evidence though that we're seeing any progress behind the scenes in terms of getting to that deal so we'll wait and see whether the white house can make any announcements around that. meanwhile just a remarkable couple of minutes here between the president's twitter 2350feed the president live on the south lawn just before coming out there, the president suggested i had nothing to do with russia helping me to get elected. that caused a stir when the president tweeted that out because it was the first time we've heard the president acknowledge that russians did in fact help him win the election that would be a remarkable admission from the president who has all along -- the white house has said that the russians were involved in the election but didn't make a difference in the election ultimately.

wreaking havoc with markets to start the week eamon javers has the latest on the trade back-and-forthok like they're coming, melissa. that's what we're told as of last night we had a briefing for reporters by robert lighthizer, the u.s. trade representative, and steven mnuchin, the treasury secretary. and they put some meat on the bones of what the president was tweeting about over the weekend that roiled the markets yesterday. what both men said was that something happened on the chinese side, they said, over the weekend, and the chinese backed away. lighthizer called it an erosion of commitments that the u.s. side has seen from the chinese over the past week or so mnuchin called it a big change in direction and as a result, they say that tariff hike is going to take place at 12:01 a.m. eastern time on friday, but they said that the talks are still going on they're not walking away from the negotiating table. and they do expect liu he, the key chinese official, to be here this week in washington for negotiations that was an important barrier to cross because liu he is seen as the dea

i think eamon javers, you're worried? >> i was just waiving to somebody who was waving outside.rs says the president said he's still going to negotiate with the democrats. i did get commentary from some of the market guys that that's back on the table. >> i thought about that for a minute and a half and thought maybe that's going to be a problem but then again the president is pretty mercurial, looks like a situation that's really hurting the economy or stocks that will weigh more heavily. >> except they can't be in the same room for three minutes. >> leave that to his deputies to figure something out. >> it's the kind of thing that gets mentioned and gets on the worry list when the market seems like it's squirrely. >> would you sell based on that in. >> i don't think people outright sell might re-enforce their inclination to do nothing. >> if you're looking to buy stocks, look for the pmis out at the beginning of june and also probably going to look for the second quarter earnings. that's why the macro data is so important to watch at this point. >> that's my question. is there

eamon javers has the latest developments. >> reporter: good morning, becky.lic view between the special counsel on the one hand and the attorney general on the other. the "washington post" breaking this story late last night what the "washington post" reported is that robert mueller, the special counsel, wrote a letter to bill barr, the attorney general, after barr issued that four-page summary document explaining the fundamental conclusions of the special counsel's report what mueller was frustrated about, he said, was that that document did not fullycapture the context and the substance of what the mueller report said and mueller was apparently concerned that there was public misperception now about what he had ultimately found about the president's conduct. here's what the "washington post" says that letter from mueller said to attorney general bill barr. remember, this is after that summary was released mueller wrote, "there is now public confusion about critical aspects of the results of our investigation. this threatens to undermine a central purpose fo

delegation is due to arrive in washington imminently, but success is now apparently far from guaranteed eamon javersatest. >> reporter: good morning, andrew the stakes couldn't be much higher for these trade talks at the end of this week the president suggested he'll put new tariffs in place on china by the end of the week if things are not going well in the trade conversations. we do expect some members of the chinese delegation to start arriving today and then liu he, the key figure on the chinese side, to be in washington tomorrow an interesting wrinkle in all of this, the ustr, u.s. trade representatives' office gave us the impression yesterday that they were planning to put into the federal register a notice that would begin the formal process of putting those tariffs into place as the president has threatened on friday now, that notice was never filed in the federal registry yesterday. not clear whether that's definitive or not, that those tariffs will definitely not be going into place on friday we're going to wait until the ustr office staffers get into the office this morning and ask for th