hampton pearson, nightly business report at the supreme court. as we reported humana and aetna shares moved higher following t supreme cou decision. shares of humana jumped even further midafternoon on a bloomberg repor that aetna is close to buying it according to that report, a deal could be signed as early as this weekend. humana has received an offer from cigna, but the board prefers the aetna offer. >> c.c. conley joins us now toe about today's supreme t decision and what it will mean overall for the industry. c.c. welcome, good to see you. >> nice to see you. >> if investors interest in health care stocks were any gauge, this was a good ruling for hospital companies and insurers. you agree? >> yes, absolutely. certain the is so critically impo to businesses. but even more so we did some calc if those subsidies had been overturned by the court today next year alone, health insuranc companies would have lost $36 billion in premium revenue. hospitals would have lost about $9 billion in consumer health ca spending. there were real financial imp

for "nightly business report," hampton pearson in washington. fed official to speak publicly after the jobs report said the central bank is still likely to raise interest rates later this year but new york fed president bill dudley declined to say exactly when the fed would act. >>> i still think it is likely that conditions will be appropriate to begin monetary policy normization later in year. but the likelihood heiming -- timek will depend on the economic outlook and that is largely shaped by the incoming economic data. >> dudley is a voting member of the feds policy committee. >> our guest tonight head the headline n was great but the details are great. anthony chen chief economist at chase. welcome, anthony, good to see you. >> glad to be here. >> so what impressed you so much about the internal components about this report. >> what impressed me is people have been constantry talking about the discouraged workers and they make the numbers work but the reality is the discouraged workers are going down and they were down 50% during the peak o

hampton pearson takes a look at who is on either side of this controversial piece of legislation and what they have at ste. >> reporter: today was a big win for big labor. organized union leaders say they are focused in the millions of manufacturing jobs lost over the last decade to china and other low wage economies was a key factor in congress stalling key legislation tied to the transpacific partne >> this is the beginning of a new look at our economy. there is a clear choice that was made today between workers and their rights and their needs and their family and community and a sense of corporate entitlement around the country. >> when the votes were counted, the worker subsidy mease was overwhelmingly. >>he the nays are 302. the motiond enco 40% of the global economy and about one-thir of all of the global trade. the biggest upside for the american economy, a chance to open up asian markets to american agriculture, the pharmaceutic industry as well as high-neck and a knowledge-based econo where there is a strong competitive advantage. all part of a bottom line to overall u.s. t

hampton pearson explai >> any day now the labor department is is expected to propose a new rule that adjust for inflation the current threshold for overtime pay from nearly $24,000 a year to as much as 52,000. extending time and a half overtime benefits to an estimated 6 million americans. at a capitol hill hearing today supporters say it's one way to overcome decades of wage stagnation. >> the current salary threshold for exempt employees is at half of the average hourly wage for nonproduction employees in the american economy. al >> restand d becularhit. they employee mostlurly workers. including managers. many of whom do not get overtime. >> today, a top executive from the white castle chain told lawmakers changeing the duties would impact the business model for much of the retail and restaurant industry. >> an increase in the overtime salary threshold to $808 per week would affect 1.7 million workers and would ct businesses $5.2 biyear asseing they don't make changes to off set the cost. >> republicans are offering legislation to bloc the rule changes and business groups may file

hampton pearson "nightly at the supreme court. why tempers are rising along with the temperatur ♪ >> excessive rain is taking a toll on the agricultural markets. corn and soybean prices increase for months. >> meanwhile, farmers in californ want some of the rain to head west. hugely important agricultural sector in that state is suffering from the opposite problem, a lack of water. and access to that precious commodity and new roul rules from the state are causing a lot of concern. jane wells has more from california it's going to be a long dry summer in california. tempers are rising with temperatur th state has ordered some of the most senior rights to water to cut usage but the response has been silent. nearly 70% of those water users have ignored a deadl to prove they are complying. there's confusion and we need to basically find out, you know what this finally means because everybod is confused. and confusion breeds lawsuits including one expected by the byron bethany irrigation district or bbid which turned off the water to

hampton pearson live at the supreme court with more. hampton. >> reporter: well brian, phenomenal thing about all this is, hours after that historic ruling, the rally still continues here at the supreme court on the part of same-sex marriage supporters. crowds have continued to come and go throughout this historic day for the court. big surprise as you said 5-4, same-sex marriage becomes the law of the land. justice kennedy speaking for the court majority on that issue. we're also hearing from much of corporate america, overwhelmingly supportive of the ruling today. among the big high-profile names -- apple issuing a statement saying we applaud the supreme court. this is a momentous step for equality and fundamental human rights. from united airlines -- we applaud the supreme court for affording same-sex couples the respect and dignity they deserve under the law. in the social media landscape, we've seen mastercard changing the background on its logo on its twitter account to a rainbow reflecting the diversity of today's ruling. and of c

for nightly business report i'm hampton pearson in washington. >> and joining us to talk more about today's fed action, or nod what it may mean for the u.s. economy is allen blinder. former vice chairman of board of governors at the fed and now at princeton. professor, au with us. i gather that one of the things that you saw in the data today was that the members of the committee are saying that the economy is growing, or their forecast for it is slower and lower than previously thought. does that do anything to your view as to when the fed may move to raise rates? >> yeah. i think fed has been saying consistently and where he should believe them because it is true. is their decisions are data dpu saw among other things in the forecast or the statement was a weaker outlook for the year. and not just because of the first quarter. they don't give you quarter by quarter forecast. but it looks like they are pretty mediocre on the second half of this year. and soy pushes the da pushes at all. >> given what you heard from the fed chief, when they do eventually move on interest rates, what will su

for nightly business report i'm hampton pearson at the supreme court. > still ahead, what ceo's from the world's biggest drug companies say is their best weapon y. >>> at the most important cancer drug development conference of the year ceo's of the some of the world's biggest drug companies presented their latest data. many agree on one thing. there's a big new hope for . meg terrell has more from. >> reporter: the biggest cancer research event in the world, it was abuzz with excitement about immuno therapy. bristol-myers is the leader in the state. with two medicines in the market in melanoma and lung cancer. merck has a drug approved for melanoma. >> abruptly we and others began to show that we could manipulate the immune system in such a way as to reveal the pre-existing ability to actually eliminate tumors in some patients. over the last couple of years, those results have expanded and increased in number. >> roche astrazeneca, pfizer and others are developing immunotherapie one major focus, using so-called biomarkers. signatures in patient's cancer cell that may determine who r

where the epa will have to decide how to ac for "nightly busine hampton pearson >>> in a separate ruling oracle was handed a legal victory when it declined to hear google's appeal in a copyright case. the decision upholds a ruling that allows oracle to seek licensing fees for the use of some of the java language. google argued it should be able to use java without paying a fee. >> the supreme court also rejected a bid by bp over fines related to the 2010 oil spill in the gulf of mexico. the companies had argued that the oil leak didn't spring from a well they co-owned but rather from a broken underwater pipe the justices however, let stand a lower court ruling that said the companies could not avoid federal fines for the spill by bp could face a maximum fine of nearly $14 billion, and anendarko could face $1 billion. >> cisco walks away from its u.s. foods merger. the food company abandoning its planned $8 billion purchase of its rival after a federal judge ruled again tha merger. cisco says it has different strategi for its future including a share buyback of $3 billion. shares fell 2%

let's get to hampton pearson at the supreme court with an update. >> hi, carl.ent rendered by justice antonin scalia. here's a part of what justice scalia had to say. the court concludes that this limitation would prevent the rest of the act from working as well as hoped. so it rewrites the act to make tax credits available everywhere and here's the punchline, we should start calling the law scotus care. he goes on to say perhaps the affordable care act will retain the enduring status of the social security act and the taft-hartley law but the court's two decisions on the act will surely be remembered through the years, the two decisions, the original mandate as constitutional and now the subsidies, both made possible by chief justice john roberts being the crucial swing vote in both instances. one other bright line distinction on the part from the majority justice roberts again on the question of the credits, the credits are necessary for the federal exchanges to function like their state exchange counterparts and avoid the type of clam to us results that congr

. >> hampton pearson doing the work today. our thanks to you.x marriage let's bring in a democratic congress member. good morning to you. are you there? we might have lost him, i guess. not surprising given the crossing wins in this breaking news environment. we are going to hear from the president at 11:00 p.m. eastern time -- 11:00 a.m. eastern time. this time on his favor on a week where he got fast track authority. it's been a remarkable week for the white house. >> i'm sure there's going to be a lot of celebrating there half some rough periods. again, i just think that the history nape of this is tremendous. getting a chance to look at the opinion itself and it's so clear that it is embracing the whole sweep of the equal protection clause the 14th amendment for the right to marry. it goes beyond the issue of marriage. it would have been historyic. it will be an effect across other laws as well. >> the president was not in favor of same-sex marriage in 20008, not that long ago. it was his vice president to seemed to voice the issue. >> force

hampton pearson in washington with the details. hampton. >> hey, brian. of fast track train authority remained stalled in the house until early next week when house republicans hope to have another vote on tuesday to perhaps pass the trade adjustment assistance bill which was defeated by 126-302. house speaker john boehner making that request for reconsideration after that vote which had to be a shock to the gop leadership as well as democrats. now the house did pass trade promotion authority for the president. the vote there, 219-211 with 28 democrats voting for the fast track authority, if you will. but in order for the bill to go to the president, you needed both parts to pass. that did not happen today. now the gop leadership says it will try again next week. no more votes today. the white house briefing is under way where white house spokesperson josh earnest is basically calling on democrats and republicans to come together on all that. >> all right, hampton pearson, thank you very much. do appreciate that. >>> t-rex is louder than i am. that is a c

hampton pearson live outside the supreme court in washington. >> yeah. a big win for the electric utility industry and a setback for the environmental regulation of hazard usous pollutants from coal fired power plants. the supreme court in a 5-4 decision today says the epa must consider the cost of compliance when regulating pollutants. 9.6 billion a year in this case says the industry but the reduced emissions benefits just $4 billion to $6 billion. the epa released a statement reacting to the ruling reading, in part this rule has issued more than three years ago, investments have been made and most plants are already well on their way to compliance." the case now goes back to a lower court for further action. meanwhile, the court did deal a significant setback to opponents of the death penalty ruling that a drug used by the state of oklahoma in its lethal injection procedure does not violate the constitution's ban on cruel and unusual punishment. >>> and finally, the justices upheld a plan that stripped the arizona legislature of their role in congress

but first, hampton pearson has the cnbc market wrap. ook heading into tomorrow. the dow falling by 28 points. the s&p off two. the nasdaq down by six points. that's it from cnbc, first in business worldwide. i will take beauty into my own hands. olay regenerist. it regenerates surface cells. new skin is revealed in only 5 days. without drastic measures. stunningly youthful. award-winning skin. from the world's #1. olay your best beautiful how much protein does your dog food have? 18%? 20? introducing nutrient-dense purina one true instinct with real salmon and tuna and 30% protein. support your active dog's whole body health with purina one. you are looking at two airplane fuel gauges. can you spot the difference? no? you can't see that? alright, let's take a look. the one on the right just used 1% less fuel than the one on the left. now, to an airline a 1% difference could save enough fuel to power hundreds of flights around the world. hey, look at that. pyramids. so you see, two things that are exactly the same have never been more dif

first, hampton pearson has a cnbc market wrap. look at stocks heading into tomorrow. the dow closed off its highs of the day, but was still up by 64 points. the s&p add just four points. the nasdaq gaining 22 points. that's it from cnbc, first in business worldwide. you choose the salad. occasionally. but staying well - physically, financially, emotionally - its hard on your own. so cigna's got your back and your knees, 24/7. cigna's there to answer your questions. or when you need some coaching. in sickness and in health, cigna's there, helping you to get well and stay well. that's having a partner, who's with you all the way. cigna. out of 42 vehicles based on 6 different criteria, why did a panel of 11 automotive experts name the volkswagen golf motor trend's 2015 car of the year? we'll give you four good reasons. the volkswagen golf. starting at $19,295, there's an award-winning golf for everyone. >>> the car service app uber now operates in 58 different countries. it is estimated to be worth $50 billion, and in this country a

. >>> let's go to hampton pearson. >> greece was the word on wall street today.bt crisis sparked a big rally heading to tomorrow. the dow heading 236 points. the s&p up by 25. the nasdaq gaining nearly 63 points. that is it from cnbc. making a fist something we do to show resolve. to defend ourselves. to declare victory. so cvs health provides expert support and vital medicines. at our infusion centers or in patients homes. we help them fight the good fight. cvs health, because health is everything. audible safety beeping audible safety beeping audible safety beeping the nissan rogue with safety shield technologies. the only thing left to fear is you imagination. nissan. innovation that excites. welcome to fort green sheets. welcome to castle bravestorm. it's full of cool stuff, like... my trusty bow. and free of stuff i don't like. we only eat chex cereal. no artificial flavors, and it's gluten-free. mom, brian threw a ball in the house! food is a part of our live and i'm excited to explore healthy ways to shop cook and eat. let's keep the food fresh on msnbc. >

hampton pearson. >> we had the markets close in positive territory despite still no deal in greece, closing and heading into the tomorrow we saw the dow rise 23 points the s&p up 5 the nasdaq gaining 28 points. that is it for cnbc, first in business worldwide. pecans and other delicious nuts specially mixed for people with hearts. planters. nutrition starts with nut. if you have moderate to severe plaque psoriasis. isn't it time to let the real you shine through? introducing otezla apremilast. otezla is not an injection or a cream. it's a pill that treats plaque psoriasis differently. some people who took otezla saw 75% clearer skin after 4 months. and otezla's prescribing information has no requirement for routine lab monitoring. don't take otezla if you are allergic to any of its ingredients. otezla may increase the risk of depression. tell your doctor if you have a history of depression or suicidal thoughts, or if these feelings develop. some people taking otezla reported weight loss. your doctor should monitor your weight and may stop treatment. side effects may include diarrhea nausea,

. >>> i'm hampton pearson with your cnbc market wrap. stocks in little change. dow falls 2, nasdaq up a fraction. there were 5.4 million positions waiting to be filled in april. the most since december of 2000. and lululemon was a big winner today. shares surging nearly 11% after the maker of yoga wear saw profits more than double while sales rose more than 6%. what do you think of when you think of the united states postal service? exactly. that's what pushes us to deliver smarter simpler faster sleeker earlier fresher harder farther quicker and yeah even on sundays. what's next? we'll show you. when a moment spontaneously turns romantic why pause to take a pill? and why stop what you're doing to find a bathroom? with cialis for daily use, you don't have to plan around either. it's the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and

you're watching "the ed show" on >>> i'm hampton pearson with your cnbc market wrap.s for stocks. the dow ends off by 28 points. the s&p sheds two. the nasdaq slips by six points. auto sales were strong in may thanks to attractive loans. and memorial day holiday promotions. gm sales rose 3% sending shares higher. fiat chrysler posted a 4% gone and ford reported a 1% decline. factory orders fell in april for the eighth time in nine months. economists expected a flat reading. that's it from cnbc, first in business worldwide. this allergy season, will you be a sound sleeper, or a mouth breather. well, put on a breathe right strip and instantly open your nose up to 38% more than allergy medicines alone. so you can breathe and sleep. shut your mouth and sleep right. breathe right. introducing the first ever gummy multivitamin from centrum. a complete, and tasty new way to support... your energy... immunity... and metabolism like never before. centrum multigummies. see gummies in a whole new light. what do you think of when you think of the united states postal service? exa

. >>> i'm hampton pearson with your market wrap. stocks build on monday's gains. dow up 24. the nasdaq rises by 6 to close at another record. sales of new homes are hot. rose 2.2% to more than 7 year high in may. the northeastern u.s. saw the biggest increases. meanwhile orders of durable goods meant to last at least three years fell 1. % last month. it was the third decline in the at least 4 months. this is brian. every day, brian drives carefully to work. and every day brian drives carefully to work, there are rate suckers. he's been paying more for car insurance because of their bad driving for so long, he doesn't even notice them anymore. but one day brian gets snapshot from progressive. now brian has a rate based on his driving, not theirs. get snapshot and see just how much your good driving could save you. when a moment spontaneously turns romantic why pause to take a pill? and why stop what you're doing to find a bathroom? cialis for daily use, is the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis

. >>> i'm hampton pearson with your cnbc market wrap. stocks move higher on optimism about jobs.w climbs 64 points. the s&p rises by four. the nasdaq adds 22 points. employers added 201,000 jobs to payrolls in may. according to adp, that was slightly ahead of estimates. the report comes two days before the government's may employment data. and the trade deficit narrowed in april, as exports hit a record, it shrunk 26% to $40.9 billion, marking the biggest decrease since 2009. that's it from cnbc, first in business worldwide. audible safety beeping audible safety beeping audible safety beeping the nissan rogue with safety shield technologies. the only thing left to fear is you imagination. nissan. innovation that excites. when a moment spontaneously turns romantic why pause to take a pill? and why stop what you're doing to find a bathroom? with cialis for daily use, you don't have to plan around either. it's the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like

hampton pearson. seems that americans are paying close to $500 a month for car loans.d be due to the fact that the average price of vehicles reached a record high of $3131$31,000. water restrictions are going in effect in california to bring usage down 25%. we learned that disney is looking into a tiered pricing system which means they would charge more when visiting parks during peak seasons and days. if you missed any of the stories of the past hour you can visit our site. >> also new leadership. are there smoother skies ahead for the jet company some robert frank has that story. >> net jet named a new ceo with pilots. we will tell you about the new captain and what the owner said about the dispute, coming up. blap it took serena williams years to master the two handed backhand. but only one shot to master the chase mobile app. technology designed for you. so you can easily master the way you bank. >> welcome back. if you want to know where oil and gas prices are going, great lineup for you. core labs will bring us their views and a survey of the other participants w

. >> thank very much hampton pearson. over to chicago to the cme group. >> hi sara.ls. thank for you joining mess this monday morning. >> very nice to see you, rick. you know back in february professor, you and i had some interesting discussions on the seasonalities of the gloimt reports and how they can get offkilter. you brought up during the interim periods we can have bad policy based on bad faulty data. the new thing is not -- but potential the seasonality to gdp. can you talk to the seasonality of gdp on multiple quarters and how far it gets out of kilter and how far -- when they go through first, second and ultimate third revisions? >> the gdp data is made up of information from a whole variety of industries and whole variety of sources. much of that data that goes into gdp is seasonally adjusted. not all of it much of it is. there are no statistics in gdp. there are no quarterly reports of the gross national product that are not seasonally adjusted. this is very unlike the employment statistics in which each month we get statistics that are unadjusted and tha

. >> all right hampton pearson, thank you very much. that report is up on the epa's website. 998 pages long. it is all kind of charts and graphs. just read the executive summary like i did. >>> back to these executive markets. the dow jones industrial average is down 170 points. that's just under a 1% move. the nasdaq is down as well. the big story to me i'm kind of an energy geek as melissa likes to say, oil falling again down to $58.06. at one point a barrel of crude oil was at $57.83. oil can't seem to get out of its own way after it gained a couple of months ago. kind of stuck in this same position. that's it. "closing bell" will dutifully take it over from here. melissa on "fast money," can't wait until 5:00. >> are we in a recession. after this quick break. when a rewards card is designed to sync with your life it gets talked about... ♪ ♪ ♪ so you can live the way you live, and enjoy all the rewards. chase sapphire preferred. so you can. if you're running a business legalzoom has your back. over the last 10 years we've helped one million business owners get started. vis

hampton pearson. ginnett is spinning in two.mpany is keeping the gannett names and are now part of a new company or a company that is newly public called tegna. that is the spin from gannett. joining me is the president and ceo. nice to have you with us this morning. you have 46 stations career.com, career builder. tell us about this new company. >> thank you very much. just one minor thing. we actually are trading up this morning about 5% from where we opened so we're very pleased with the difficult market that we are in fact advancing. with respect to our assets we have 46 tremendously placed television stations that will continue to see great growth going forward in 2016. we have an olympics and then an election year where we expect there to be record political advertising spent and we are incredibly well positioned in key states to really benefit from record political spending. on our digital side cars.com has relationships with over 20,000 dealerships across the country. there's a lot of tail winds behind automotive spendin

hampton pearson has that story live from washington. why the move? >> hi, mandy.everend franklin graham is calling on christians to boycott corporations that promote homosexuality. now the evangelist son of the late reverend billy graham says he's moving all of billy graham's ministry's funds, estimated to be in the hundreds of millions of dollars out of wells fargo because of the bank's recent ad featuring a lesbian couple learning sign language in anticipation of adopting a child. ♪ >> wells fargo says they stand by that ad and in a statement citing its support for the lgbt community, the bank says our advertising content reflects our company's values and represents the diversity of the communities we serve. graham's call for a boycott comes in anticipation of the supreme court ruling on the constitutionality of gay marriage before the current term ends later this month. tyler? >> hampton, thank you. >>> a hospital in new orleans is starting to use technology to treat patients. bertha coombs has that story. >> coming up on "power lunch," i'll tell you how one ho

cnbc's hampton pearson is live outside the labor department in washington, d.c. what's behind these numbers? >> well, the number as you said, the headline numbers better than expected. the other thing is a lot of that job growth was created in the private sector over 262,000 of the 280 private sector hirings. and major seconders of good-paying jobs. business and professional services added 63,000 workers. leisure and hospitality 57,000. health care an additional 47,000. there's even a bit of a hint of rising wages, average hourly earnings were up 0.3% last month compared to 0.1% the previous month. we even had an upward revision for march and april. an additional 34,000 people hired than had been previously reported. one red flag in the record you might want to look at going into the summer there's always concern about finding jobs for teenagers. the teenage unemployment rate was 17.9%. that spiked up from april but at the same time there are reports saying prospects for teenagers getting jobs this summer are better than they've been if recent years. so we need t

hampton pearson is standing by outside the labor department. hampton? >> 280,000.. the unemployment rate is 5.5%. average hourly earnings increased by 0.3%. above the consensus, 225. with the headline number. private nonphjobs. revisions march revised upwards from 34,000 to 85,000 to 119. april downward by 2,000, 223 to 221. a net gain of 32,000. more jobs than previously reported over the last two months. job gains across the major sectors up 63,000 professional and business services. 57,000 leisure and hospitality. up by 47,000 in health care. on the downside mining losing 17,000 jobs. the fifth month in a row. that sector has lost jobs and so far this year mining losing about 68,000 jobs compared with a gain of 41,000 for all of last year. how did we get to that 5.5% unemployment rate. basically, 397,000 more persons entered the labor force last month. not all of them found jobs. the labor force participation rate 62.9%. same as the previous month. the so-called total or real unemployment rate 10.8%. also the same as last month. long-term unemployment six months