i'm driving through hobbs, population 70,000. most people make the money off oil.il isn't the only fuel in town. i found fuel developer jule, supported by $200 million in private equity and venture debt financing. it is making renewable ethanol and diesel using just sunlight, carbon dioxide, and bacteria billions of years old. search is ceo. he was skeptical when she asked him to join. six month into the job, he is a convert. >> i don't believe anybody can claim to be carbon neutral. reporter: if they succeed, it would need field that doesn't need to remind, fracked, and no co2 emissions. this is where it begins. this freezer at -80 degrees celsius has files of bacteria. one vial contains 10 billion bacterium. one. they are thawed and fed for two days. >> we start to get them happy. this is easy living for them before we get them ready for the outdoor world. reporter: cool spectrum light for four days. >> we bring them under this special light that will limit -- munich the life they see outside. reporter: this replicates the sun. then it is over to real sunlight. t

arizona -- john t hobbs. david s payne. tyler j. stewart. arkansas -- pete richardson.-- jordan j. porter. christopher a. cohortkohortzo . michael d. davis jr. ricky p. delfortino. sean r. diamond. juan j. gonzalez. scott m. huel. y. costa yuchenko. brian m. law. nicholas c. lee. timothy d. mitchell. danny p. oliver. roberto c. sanchez. tom a. smith jr. colorado -- david m. baldwin. florida -- robert g. german. michael lee horn. charles r. condeck jr. mark h. lawson. [crying] jonathan s. pine. chelsea renee richards. christopher l. smith. georgia -- n. l. hawk. kevin d. jordan. michael a. noris. stephen l. thomas. [sirens] [background noise] illinois -- james p. morsby. indiana -- jacob d. calvin. perry w. wren. nicholas e. schultz. jeffrey b. westerfield. iowa -- howard j. snyder. kansas -- jason e. harwood. kentucky -- bob w. branham. louisiana -- alan m. berez jr. james e. foster jr. carlos papillon jr. maryland -- jamal l. clagget. massachusetts -- greg t. maloney. dennis o. simmons. michigan -- chad a. charles. grant william whitaker. minnesota -- scott t. patrick.

it was just after 2:00 in the morning, when virginia state trooper ben hobbs was awakened at his home a telephone call from my dispatch saying, we've got a motor vehicle crash, possible fatality. >> he raced to the scene to join the first responders and the county cops. >> i'm talking, i said, okay, where's my vehicle at that struck the person that's laying in the road? the deputy looks at me and says, well, i guess your dispatch didn't tell you. this is probably going to be a hit and run. we don't have a vehicle. >> for you as an investigator, this is a long night ahead of you, you got a victim and no vehicle? >> exactly. then i began to look at the scene, look at what i have, what i don't have. one of the first things he saw was the devastated husband. >> as i approached, he was knelt down beside justine, crying, seemed very distraught about his wife laying in the road. >> it was up to the trooper to gather what he could at the scene to help identify the driver who'd struck and killed this young woman and kept on going. it wasn't going to be easy. >> nobody tried to stop, if they sa

that is life in the state of nature for hobbs. so we have to do something about that.t could be and i think this is the challenge of the professors here somewhere. it could be that what we find as a result of the triumph of that enlight enlightenment view is the culture about professor west and i are complaining. so the sting of the tail of the professor and i hear and feel it is this. you two professors might very well think we produced a degraded culture. a culture looking in virtues. humility, courage, stead fastness, faith and so forth. but you want to return to a situation where politics is no longer tame because politics go backs to fighting about the big issues. the nature of people disagreeing about the virtue. people disagree about religious questions. we say as christians every member of the human family and every human being is a precious child of god made in the very image of god. other people don't think that. we want politics to be premise on that? do we want battles about that? he is saying to the two of us look it might be that you have a choice. a poli

. >> that is where we add hobbs and warily. >> definitely. >> let's talk about hobbs and barley in differentorms which your the cans of beer you are doing now. >> exactly. >> you have never done cans before. >> we have in the done cans. this is our first can product. summer love. we thought it was appropriate. bottles you cannot take every where in the summertime. >> do you have a could one for me. >> yes. >> now you guys at victory have been the top 100 micro brews in the country. >> absolutely, we are number 28 this year. >> for number 28 you are pure makers. it had has to be in the bottle because can may not make it very good. >> is that true. >> it is not really true. the cans bottles, there is different schools of thought. i think people consumers really used to look towards the can as maybe not as good but that is not true. some actually argue that a can is great because we don't get light, in the bottle. so i think it is six of one half dozen to the other. >> yes. >> so any outdoor summertime activity and lighter. so that is our first canned product and we are excited. not sure is wha

and the coach turns on his heels and says, i don't know who roy hobbs is. just know he's the best there is and the best there ever will be. jim wright, you are the natural. there probably has never been a man in american history that i can recall to that so eloquently used the english language. he helped those of us who only have sparks appreciate the flame, with his application of our language. and it seems a shame that i can't find words in my language to encompass all that he was and is. and will always be. only in spanish. [speaking spanish] go and be with god. light of our land. friend of my life. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >> next, president obama's remarks at the national peace officer memorials conference. then washington journal. >> this weekend the c-span ci ties tour to went to fort lauderdale, florida. >> here was an attraction. the sentinels giving by the road. when they came into the attractions there were getting food, the weekly allo

i'm driving through hobbs population 70,000. most people make the money off oil. the only fuel in town. i found fuel developer jule making renewable ethanol using sunlight and bacteria billions of years old. >> you can continue the process. reporter: the ceo and top man at hotel -- total. >> i've been so many years in the industry i don't believe in miracles. reporter: six months into the job he is a convert. like i don't believe anybody can claim to be carbon neutral. reporter: it would mean fuel that doesn't need to be mind or grown -- mined or gorwrown. this is where it begins. this freezer at -80 degrees celsius has files of bacteria. one vial contains 10 billion bacterium. they are thawed and said -- fed for two days. >> we start to get them happy. this is easy living for them before we get them ready for the outdoor world. reporter: cool spectrum light for four days. >> we bring them under this light that will limit the life they see outside. reporter: this replicates the sun. then it is over to real sunlight. the bacteria are exposed to the sun for 8-10 wee

. >> and here for the entire hour, simon hobbs, what a treat. >> i feel very dial-up. i have to say. >> we're going to be talking about that big deal you just heard of course the throw-back aol sound. aol is being bought by verizon in an all-cash deal worth $4.4 billion. shares of aol have been soaring on news. sitting bost $50 per-share deal price. aol's ceo tim armstrong talked about the deal this morning on "squawk box" and here's what he said. >> verizon has been one of our biggest and best partners since i've been at the company. think there was a natural set of conversations that have happened. you know over time. and you know over the last couple of months. it got more serious and i think we share a combined vision. and this will be one of the largest-scale most exciting biggest platforms for the future of mobile and o.t.t. content and video. so it's and advertising, it's very, very powerful platform. >> ed li, aol will get a corporate partner with a powerful balance sheet. and verizon gets aol's ad tech and content what more to it is there than that? >> the que

state regulators have -- of their cathy hobbs up planted.>> developments in an oil spill near refugio state beach in santa barbara county. a broken pipeline spilled 21,000 gallons of oil and check out the pictures. oil ran through a storm drain straight into the ocean as of last night the oil slick stretching for 4 miles of beach and about 50 yards into the ocean. it was discovered yesterday after someone reported smelling gas in the area and by then, it had been flowing for about 3 hours. the clean-up has begun but the level of damage still unknown >> it's not an easy process. i want to manage your expectations. this could take some time. >> the company that owns the pipeline claims all american shut down the line and is apologizing saying it's thankful that no people were injured. and i have seen on social media a lot of people planning to go to the area to try to help the wildlife already coated in oil but the beach is closed to the public. live in the newsroom, anne makovec, kpix 5. >>> i just want to show you this sensors in the south b

it's zero but he's going to help get a more hobbs honest debate and help us sharpen hillary clinton. she needs some competition. >> what kind of a number? >> zero! >> i'm not hung up on it. >> bernie gets 25. prediction pat? >> the turks are aiding the radical leftest leftists in syria directly aiding them. the israels are bombing them. occasionally the pro-government forces. saudis are attacking in yemen. i think there's a real danger, one, that assad's regime could be in very grave trouble. if that goes down, i think it would be a disaster. i also think there's a greater chance of expansion of this whole sunni-shia conflict and it's really metastasizing. >> that's an ugly broadcast. >> no. i think it's realistic. >> right. right. well, i'm going to go with a happier prediction. david cameron won big in the u.k. the conservative party has another five years. i think he won because he listened to the voters. and the voters were demanding a referendum on whether they stay or get out of the european union. and cameron does not want that to happen. so now he's going to have to embark on

hobbs, simon hobbs, back to you. >>> after the break.son speaking in a rare exclusive interview this morning. find out what he had to say. importantly about the company's drug pipeline. "squawk on the street" will be right back. >>> johnson & johnson holding its pharmaceutical analysts meeting today in new jersey. the ceo speaking out in an interview this morning. our meg tyrell at the meeting with morning. >> hey, carl so j & j laying out its plans for growth for the next few years. its pharma business is the largest, fastest growing portion of all of johnson & johnson. but they do face some increased competition over the next few years. up to a third of its pharma business could face generic or biosimilar competition between 2017 and 2019. so really laying out where growth going to come from we spoke to the ceo alex gorski this morning. take a listen. >> if you go back since 2009 we've actually launched 14 compounds and now if we look forward between now and 2019 yes, we expect to have about ten compounds. now of course you're going to

i'm here with sara eisen, simon hobbs and david faber. dow just his a new record.w that right now, up about seven points as we get busy for a week of fed-speak. let's get to diane olick. some breaking news on housing this morning. >> hey, carl. homebuilder sentiment down two points in may to 54. monthly sentiment index, 50 is the line between positive and negative. we're also still in the heart of the spring housing season. traditionally the busiest for builders. the builder's chief economist, david crowe says consumers are exhibiting caution and want to be on more stable financial footing before purchasing a home. builders are less confidence overall, but the sentiment was kind of strangely mixed, again indicative of the nahb's three components. they rose one point to 64. buyer traffic dropped one point to 39. current sales conditions fell two points to 59. regionally on a three-month moving average, builder confidence in the south and the midwest each rose one point to 57 and 55 respectively. in the west it dropped three points to 55 for more. of course, realchec

i'm simon hobbs with sarah eisen and david faber. good morning. relatively quiet start to the week.higher, $59 puff 61. >> let's get to the road map to the hour the mill lennian consumer, what they are buying and how you can profit of it >>> and saudi arabia's king will not be attending meetings with the president this week >>> and a new book about the giant, the inside story of the company's journey >>> san francisco fed president john williams will be sitting down for a live exclusive interview with our very own steve liesman. find out what he has to say about when an interest rate hike could happen and more that is in about a half hour from here. tom lee, fourchder of sun struck, and tom, let's kick off with you. that was a strong rally on friday. a game changer for you, for many people? >> i think it's a good reminder there's a lot more going right in our economy than wrong, a good labor print, along that inflation expectations are improving, that the economy might be see reflation. >> in the way of that on friday a lot of us were concerned, but the brought picture was of a weak

solve the problem it may not be nuclear but it does require more from the government refocused on hobbs but block got there right to be the source of the thread but talk about policing they get along often that does it mean we do away with the police how to adjust to make it better or adapt i will not defend post 9/11 and the very last point we tend to use say this date but we need the united states. so hearing is another way to take them even further we are concerned about the government response so those that would take the threat perception to use them with the oppression with this never security and the concerns. we are dealing in the world with 100 and 93 u.n. members at least 45 are called to be high alert and we can't just think about what the united states can or will do we need to think about the world of the subcontractors that we have to lie on for governance also preventing those that no longer function in then does a discussion of the outside threats that look very different to think about the capability. so now we welcome your questions to wait for the microphone please. >

we should know our montague, our locke, hobbs, machiavelli in some respects. that is the experience they can draw on in times of coming -- in terms of coming up with a strategy. so, with the analysis of the sources, i will not say it is skepticism, but he is airing doubts about the wisdom of majority rule per se. madison's idea is maybe the national government should have the authority to intervene in the states individually. actually give the national government and congress what he calls the negative -- we would call it a veto -- on all state laws. the negative can be used to protect against interference from the states. we will look at this in a couple weeks when we look at the great case of 1819. but maybe we should be able to protect minorities in the state against unjust legislation? it is the hottest topic that came when could discuss at the time, short of a polishing the states. -- short of abolishing the states. i think it makes a lot of sense for us to think of madison as a key figure, regardless of what his batting average was. you have to watch out

. ♪ ♪ >>> good morning and welcome back to "squawk on the street" this friday morning, i'm simon hobbsrl quintanilla is on assignment. s&p 500 sitting below the fresh all-time high we achieved yesterday's session. early departures delayed today for many due to janet yellen speaking at 1:00 p.m. eastern. >> let's get to the road map. hp ceo meg whitman speaking inging out earlier on this show. >> one analyst making a bold call for the break-up of procter and gamble sooner than later. he'll join us live to exchange. >> co-chairman and founder of comscore will join us later. >>> shares of hewlett-packard up sharply after the company reported earnings after the bell yesterday that frankly were very much a mixed bag. revenue below what analysts had been anticipating. gap earnings share number -- nongaap number -- gaap number was below at 55 cents. all that being said stock up over 5%. perhaps as a result of the company outlining so-called dis-synergies that will take place as a result of the split of the company. and also the first time giving us some sense as to its cost savings and what i

carl quintanilla with sara eisen, simon hobbs and david faber. a weak chicago pmi.and ten year below 2.10% since may 4th. >> let's get over to chicago. rick santelli has breaking news on consumer sentiment at this hour. >> it does. it does continue. 90.7. this is the may final. if you just look at the may preliminary at 88.6 you think wow, that doesn't look bad. the preliminary is useless. toss it away. what was the previous month's final? 95.9. that was the april final. you can see sequentially not good. it is the lowest university of michigan sentiment read of the year. you have to go back to november to find a lower one which was 88.8. these eights are wild lately. misses across the board. we are not seeing as much kickdown on yields we did breach 2.10%. that's where we hover. >>> we slipped about six or seven points on the dow. markets clearly in the red today. may still on pace to be the second best month of the year. blackrock's global chief investment strategy joins us. >> good morning, simon. >> an early start for you. i guess the hope for many people was co

. >> it grew because of the hobbs in our party who gave arms indiscriminately and most of those arms were snatched up by isis. these hawks also wanted to bomb assad which would have made isis's job even easier. >> reporter: push back against paul's version of history ranges from rivals to the first u.s. envoy. >> that's a fable. isis came in to being after al qaeda in iraq was defeated by the iraqi army. and as president obama said as he came into office he inherited a stable democratic iraq. isis is the creation that happened after we pulled all of our troops out in 2011. that is the key mistake that was made by this administration. >> i think the senator is unsuited to be commander in chief. we can't afford four more years of misunderstanding the threat. >> reporter: republicans include hillary clinton in the blame game too. >> would you have pulled the troops out in 2011?nton may be on the verge of breaking with the president and adopting a more hawkish strategy against isis. the center for new american security a think tank clinton helped launch run by obama aides issued seven pa

simon hobbs will be back in a moment. let's look at how we're finishing on wall street. did close with a gain of about 47 points. off the highs of the day. still higher across the board. s&p 500 up a little over six, did not manage to close at a new record high. but we're not too far away from that. the nasdaq good for a gain of about 11.5 points. and our own john ford great to have him here. and for more on the market action is kenny polcari from o'neal securities. i guess we'll get to him in a moment. a second year in a row of gains. friday's gains feels like the path of resistance is higher. we didn't get a major catalyst in terms of earnings reports today is so it the -- so is it the story in -- >> i think the story is the bond markets and we have seen bond yields rise at the long end. meaning the 30 year quite considerably. today, you had in addition to bill gross you had warren buffett come out and leon cooperman. they all said guess what's a bad deal? bad deal is buying u.s. treasury especially the longer term u.s. treasuries that's a bet i made a year ago, been a

. >>> let's go to simon hobbs and the european close. >> the big out of europe, hypersensitivity they'reoping on the markets to what is happening with greece. the talks continue, markets in negative territory. let me show you what happened yesterday to highlight it. you had a big bounce as we got the news from the greek government maybe there was a structural deal. some markets rose 2% only to erode it today. the problem is the greeks weren't even on the ground in brussels, their plane had been delayed and sent over somewhere else in germany. you have to look at the headlines kamcarefully amid hypersensitivity. in dresden, germany, the g-7 finance ministers are meeting. the germans and the french have rounded on the dwreeks saying they should do more. the imf is maintaining a hard stance and the ecb has a stability report, warning about con dajen from other countries from greece. while markets are not overvalued, they could fall and that would hurt recovery. >>> the smerktor o smurkemicons higher in europe. >>> hollywood producer brian grazer talking about streaming, mobile and tv versus

. >> historian and author richard hobbs writes about the tacoma narrows bridge in his book, "catastrophe to triumph." >> people would come out on a windy day when there was extra bounce in the bridge and walk across. the motion could be fairly dramatic. >> but some find that wave-like motion harrowing. >> as you drove across the bridge, you could look ahead and the car in front of you maybe 100 yards would absolutely disappear as you went down into the bottom of one of these troughs. it was unnerving to a lot of drivers. many who crossed the bridge swore it would be the last time. >>> and on that windy autumn day in 1940, it is the last time anyone crosses that bridge. >> about 10:00, the bridge began to move in ways it had not moved before. the undulations became higher and the ripples across the bridge were verging on dangerous. >> at about 10:15 a.m., one of the bands holding the suspension cable breaks, causing the bridge to move not only up and down, but back and forth. >> once that started, the bridge increasingly began to twist. there was a car that had been trapped out on the bri

we should know our montesquieu our locke, hobbs, machiavelli in some respects. that is the experience they can draw on in terms of coming up with a strategy. so, with the analysis of the sources, i will not say it is skepticism, but he is airing doubts about the wisdom of majority rule per se. madison's idea is maybe the national government should have the authority to intervene in the states individually. not just to strengthen the national government against the states or make the national government independent of the states or -- but actually give the national government and congress what he calls the negative -- we would call it a veto -- on all state laws. the negative can be used to protect against interference from the states. we will look at this in a couple of weeks when we look at the great case of 1819. but maybe we could use that power to intervene in the states to protect minorities in the state against unjust legislation? this opens as many topics as anyone could have done at the time except for abolishing the states which was a nonstarter at the

arizona -- john t hobbs. david s payne. tyler j. stewart. arkansas -- pete richardson.sta yuchenko. brian m. law.

morning, carl quintanilla is off today, joining me is roger lee partner at battery ventures and simon hobbsre for the hour and with us as always is jon fortt. guys, good friday to all of you. let's kick it off with hp. shares are sharply higher today, after profit topped analysts' estimates. the company also saying it expects lower expenses when its pc and enterprise business is split into separate companies. that's not saying it's going to be cheap. earlier this morning. our david faber asked ceo meg whitman whether she regrets splitting the can and if she thinks other ceos should follow suit. here's her response. >> i say this is totally the right thing to do. you cannot believe, i can already feel the difference in the companies in terms of accountability, focus, cost, more focus on cost. you know, less of that insatiable desire to hire. it is really, you could almost see it change in the culture before your very eyes in a really positive way. so i'm excited about it. >> she's excited, roger, but it's time consuming, it's expensive. the $1.8 billion restructuring charge did spook investo

. >>> let's bring in simon hobbs, see what europe did as they're about to close, simon?s a powerful rally in europe or in the eurozone if you look carefully. the european central bank has stamped its authority on the markets. and as a result, stocks and bonds have rallied and the yields have shot down. for the record, the uk is now into the period of deflation, consumer prices falling in april. for the first time in something like 55 years. puts the kibosh on the idea that the uk will be up there with the u.s. in raising interest rates. let's return to what is happening in the eurozone. the uk is not part of the eurozone. basically the guy that's in charge of market operations at the european central bank, benoit c omoeure gave a speech which suggested that they will front-load the purchases. they fear a lack of liquidity presumably in july and august and they'll pick up the tag in september. not by coincidence you get the head of the bank of france, christian noyer, a member of the ecb suggesting that the european central bank may extend qe in order to insure it hits it

simon hobbs at post 9 wrapping up europe. >> it's difficult for europe to make gains at the moment.d by events clearly time running out for greece. we have an ecb meeting which i presume is under way. we need some judgment from them on lifeline support for the greek banks. in the meantime the german finance minister has given an interview to the "wall street journal" in which he's refusing to rule out the possibility of a greek default and moody's has said that actually freezing greek deposits at banks is highly likely scenario. of course tomorrow we have the meeting between the greek finance minister, the greek prime minister, angela merkel and francois hollande. in the meantime we could learn more about patrick drahi, a french moyer operating out of luxembourg, he's bid for part of the u.s. cable asset of southern link here in the united states. it's said according to david faber that he's approached time warner cable at further consolidating the industry in this country this is altice, the vehicle he's using, that he controls. that's the dutch quote. it's dutch and french. so the

. >> simon hobbs as we counten down to the close in the uk and across europe.g a little bounce back in germany. >> we're back up above the flat line for europe. it was really heavy losses earlier today. after two days of selling basically the opener we've had here on wall street seems to have calmed things down a bit. you've seen the selling of bait on the european bond market. so the prices are beginning to go slightly higher, the yields are falling back if you look at the euro, we've had a strong euro over the past month. you can see again just beginning to dip back this is important for european equity markets, because foreigners that are going into europe to buy equities on the basis that qew and they're cheap are shorting the euro in order to hedge the positions, if the euro is rising that causes dysfunction within some of the trades. but for the most, that's over. importantly, apt sns coming front and center again. today in greece the government spokesman said that the greece would not cross red lines on labor and pension reforms. but the game is not here

let's bring in simon hobbs to count you down to the close in uk and across europe, simon. >> hey johnifficult for europe to make gains on the market at the moment. germany's doing okay, but overall, there was increasing concern about where we're going with greece, incidentally, both brian custer ls and anthoniens just denied -- brussels and athens just denied that a deal was coming through. one of the senior members over the weekend, yves mersch, they don't want anything to do with the program. therefore they can't demand money from that existing program. just let me show you how the timetable is for greece. there's an ecb meeting on wednesday that presumably they'll discuss collateral and probably do nothing. there is some talk that they might aim for settlement by the eve summit thursday, friday, but the word there from brusz is also -- brussels is don't expect anything. according to an internal document from the imf from last week that was leaked, they don't have the cash clearly to pay that, the last one as you'll be aware, they played borrowing peter to pay paul through the sdr.

simon hobbs. we just talked to baozun. another company goes public here at nyse.y, valuation fears persist, is the market getting overheated. >>> i'm sue herera with your cnbc news update. president obama's trade agenda has cleared a key senate hurdle to move to a final vote. the senate has topped the 60 votes needed to begin action on the president's bid for fast-track negotiating authority. >>> up to 105,000 gallons of oil may have leaked from a ruptured pipeline tuesday, with up to 22,000 gallons reaching the ocean off the santa barbara coast. so far, no evidence of widespread harm to birds and sea life. >>> a convoy of prison vans brought eight men to court, suspects in the easter weekend jewel heist in london that netted hundreds of millions of dollars in stolen goods. some of those arrested were senior citizens. the eight ranged in age from 48 up to 74. >>> domest being violence charges against free agent nfl running back ray rice were dismissed today. as rice successfully completed his pretrial program. he was arrested for third-degree aggravated assault in

aristotle, hobbes, the bible shakespeare priest. this is the magic key. i don't know if anybody communicates that to students but it was communicated to me in those first few years i was so powerful. there are ideas and part of that is the biblical metaphysics. a sort of language and religion that abrahan lincoln had. he grew up with the king james bible and have the vocabulary of it. so that is what i know and that is what i believe in. everything i know is within that tradition. i just don't know asian traditions and i don't know buddhism and that there are limits to that tradition and questions that can't be answered i am not aware of them. >> it's interesting that the sources that tradition are countercultural now. it will be interesting to see where they emerge whether it's christian education has an important role than this. how how parents implicates us in what sources of input they have two engage in a countercultural message. you know know i have different academic experience going to wheaton college. the joke they are was the administration had

as we watch the european markets just a few minutes into the close, simon hobbs has a rundown of what'sg. >> this is a significant day for europe. check out the details you see on your screen. we've got heavy selling of both bonds and stocks on the session today. it's a broad-based selloff across europe, but at the helm, the big decliners seem to be the insurers and banks sitting on so much of the sovereign debt in europe. let me show where we are on the bond markets. we'll have a look at germany, first of all. the most safe part of the eurozone, of course. there you see -- this is a weekly chart. the way in which yields have risen, 25 basis points, 30 basis points, in the course of just the last week. and if you have a look at spain or italy, obviously there the moves are even more dramatic. let's move this. thank you, guys. the there you can see this spike emerging. still you've got beaten down rates. given that the european central bank is buying 60 billion euros of assets, this is kind of moving. somebody is fighting the ecb or at least taking profits. the problem appears to be what

meanwhile, let's bring in simon hobbs to count you down to the close in europe. and the u.k.on. >> biggest picture asing you, see, the euro zone ministers are meeting in brussels. we should get a clearer idea of what the greek associaters are. the german finance minister said it might be right for greek to seek a referendum on whatever measure ultimately they're able to strike, pensions, labor reform, and the deficits seem to be the major problem. tonight's statement, although it'll probably say there has been progress which is key, will probably be not enough according to city to unlock further issues courtesy of the ecb. offer them to lift that limit which would give the greek government more funds. obviously watching that carefully. meanwhile, air bus, france underperformed today. the industrial drawing down about 2%. one of the military aircraft that has been selling around the world, you probably saw this crash in spain over the weekend. germany and the uk have suggested that they will now suspend their own military transporter operations with that a-400m, obviously, we'

. >>> let's bring in simon hobbs, for the close in the uk and across continental europe. >> i had hopedyou a picket picture of calm, but selling has erupted. selling has i-erupted on the bond market. earlier in the session today we were relatively calm but the selling has erupted on the long end in particular of the bond market. let me show you where we are in the 30-year in germany. it's the 30-year in particular that's selling off. you see the move on the 30-year is six basis points as you can see and that's the 10-year. what i wanted to show you was the 10-point rise on the 30-year, on the bund. an 11-point rise on the french, and an 11-point rise on the dutch as well. and that obviously has to do with a point being made earlier by jeff rosenberg from blackrock, the chief investment strategist, off inflation the success of the ecb and discounting the idea that the ecb would have to go further than the current qe we have on the cards, that seems to be the story coming later into the session in europe. stocks moving to the down side during the session, perhaps in response to what the e

. >> simon hobbs, very interesting times over there, thanks for bringing us the latest. >>> when we comes avengers take in $2 billion at the box office this summer? it's already setting records, making $315 million so far. we will have more on a summer box office season that's about to kick off, when "squawk alley" returns. so if you get a trade idea about, say, organic food stocks, schwab can help. with a trading specialist just a tap away. what's on your mind, lisa? i'd like to talk about a trade idea. let's hear it. [ male announcer ] see how schwab can help light a way forward. so you can make your move, wherever you are. and start working on your next big idea. ♪ and start working on your next big idea. sup jj? working hard? here at the td ameritrade trader group, they work all the time. working 24/7 on mobile trader, rated #1 trading app in the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of the other competitors do in desktop. you work so late. i guess you don't see your family very much? i see them all the tim

. >> we join simon hobbs in europe where all eyes ostensibly on the uk. >> yes they were, until we gotis is powerful rally on the european market. that's partly because not only the jobs report which is quite disappointing when you talk about interest rate rideses, the treasures rallying and that's meant that the bonds have rallied in europe. you've basically turned round or you've reinforced the turn-round on the route we had earlier. yields are heading downed and you've seen the massive explosion on the equity markets. as kayla mentioned, it was all about the uk most certainly as david cameron, the uk prime minister on the conservative side got through with a slim majority to govern for a second term. despite the fact that everybody predicted it would be a hung parliament. it may be that uk rates rise more slowly because he said he'll be more aggressive on the 5% budget deficit with the uk runs, extraordinary. and at the same time, you have the whole question of when this guy will call a referendum on the uk being in the european union. meantime if you look at the individual moves on

. >>> switching gears, let's bring in simon hobbs as we count down to the close in europe. >> what anrn-around for europe. currently up almost in germany up 2% and gaining as you can see. we were down at the beginning of the european session, we've moved substantially into positive territory. basically because the bond trade has turned around. bonds were down and they're gaining as a result of what what's happening with treasuries here. equities, trades we thought we had, the equity market is kind of caught up in the middle of what's happening with currencies and bonds at the market. let's have a look at where we are in spain. there you can see the way in which the 30-year has risen recently from just above 2%, 2.10, to the current almost 3%. big moves there. the yields actually down there. as is the 10-year at the moment. the euro, is central if you're in europe, worried about earnings, or buying because the euro is cheap, and that will boost earnings, bear in mind coming into today's session, the euro over the last five weeks or so was up 7%. we have eroded that today, again as the

aristotle, hobbes, the bible shakespeare bruce. this is the magic he. i don't know if anybody communicates back to students but it was communicated to me in those first two years were so powerful. so they are ideas and part of that is the local metaphysical. it's unclear what sort of language or religion abraham lincoln had. he grew up with the king james bible. it had the vocabulary so that's what i know and that's what i believe in. so everything i know is within that tradition. i just don't know asian traditions and i don't know buddhism. if there are limits to that tradition and questions that can't be answered i'm not aware of them. >> is interesting that the sources of that tradition or countercultural now. would be interesting to see where they emerge whether it's christian education that plays an important role in this how parents inculcate this and what sources of input they have two engage in a countercultural message. i had a different academic experience going to wheaton college. the joke there was the administration had and premarital sex b

sara eisen, simon hobbs and david faber. walmart disappoints. >> our road map., some of the biggest movers of the day. seeing solid gains. up today. meeting in detroit. we'll talk about how to play the big bank. >> >>> we'll start with gdp. controversy swirling around the way it's been reported. steve liesman has been in the forefront of that story. >> a firestorm interrupting the economic world whether gdp has been reported correctly. first quarter gdp has been persistently weaker than the other quarters over a span of three decades. the correct seasonal adjustment puts it at 1.87%. barclays studying it. arrives at the same number 1.87%. barclays says some specific factors like europe or severe weather can explain some of the first quarter weakness. macroeconomic advisors one of the most followed groups out there. studies the issue and finds what economists call residual seasonality. reduces first quarter growth by 1.6% over the past 20 years. what is residual seasonality? it's a fancy term for "we don't know." seasonal patterns that remain after adjusting data

i'm simon hobbs. carl quintanilla and david faber are both off today.t of 2,100. oil trades lower at 58.73. >>> breaking news now on consumer sentiment. to chicago and rick santelli. >> good morning, this is an interesting number and i just want to double-check the decimal, it looks like it's 88.6. the reason this is so fascinating, first of all, it's a may preliminary, we'll compare to all of the final numbers. our april fine was 88.6. january was the best of january '06. definitely another miss. lot of data misses. markets are acting accordingly. we see rates coming back off a little bit. we'll continue to monitor. sarah eisen, back the you. >> thank you very much rick santelli, disappointing read on consumer sentiment. a look at the stock market. we're still off the record high on the s&p 500. the dow down about 19 points. let's bring in the ubs director art, it looked like we were going to get a breakout record close yesterday, what happened? >> the light data is helping to some degree. the yield is down 2 .2%. you had that treasury refunding this w

i'm simon hobbs with sara eisen and david faber. interesting day on the markets today.rrently down 139 points clearly all eyes on what is happening in the bond market at the moment. yields there clearly have been rising. yesterday was the worst day for the 10-year we had in a couple of months. we trade 3%. >> david kostin chief u.s. equity strategist from goldman sachs is live with us for an interview. >> labor secretary thomas perez will give us his first reaction to today's job openings and turnover data. >> and docusign getting $200 million in new funding that could push its valuation to as much as $3 million. we'll talk to the ceo in a few moments. >>> this painting by picasso became the most expensive painting to sell at an auction, final price of $179 million. i was there. it was fun. christie's lead auctioneer will join us live post nine in about a half hour. >>> looking forward to that. we start with the markets. dow down 150 points. market's in sell-off mode today. it's becoming more of a bond market story with yields on the march higher around the globe. joini

i'm carl quintanilla with sara eisen and simon hobbs. faber in phoenix in morning at the dish network's 2015 team summit. he is going to sit down with charlie ergen chairman and ceo of dish for an exclusive interview in about a half hour. markets hanging on to a nice gain. dow up 125 points. dollar at a four-month low and that is benefitting the kinds of companies that would make up the dow jones industrial. >> european bank president mario draghi speaking at the imf in washington today. we'll talk to the gugenheim ceo. >> bad day for retails. macy's and kohl's down sharply. >> cisco reporting third quarter results what outgoing ceo john chambers had to say about the company's growth going forward. >> u.s. stocks rising. the dow's essentially within 120 points from a record high. the dollar extends its slide. euro hitting a three-month high as mario draghi takes the stage at imf headquarters in washington. joining us is scott minor, chairman of investments. he is in town to accept the institutional investor's sixth annual u.s. investment

i'm carl quintanilla with sara eisen, simon hobbs and david faber at the new york stock exchange. from around the world. claims in line here. we'll get nat gas inventories in a half hour. the market's hanging in there. dow's off 15 points. a lot of retail earnings from best buy, williams-sonoma and salesforce and shake shack making news today. let's get to rick santelli for more data. >> absolutely. we have the current read which happens to be april for leading indicators up 0.7, much better than we were looking for. that's the best read since july of last year. darn close to a year. now let's go for the philly fed. this is a may data point. 6.7. we were expecting a little bit better. last look unrevised at 7.5. of course we have existing home sales. for that let's go to diane olick. >> down 3.3% to 5.04 million units up from a revised 5.21 million units in march. that's a miss. we've got down 3.3%. still up 6.1% year over year. realtors saying this setback from the robust march sales is a result of lagging supply not demand. inventories were up 10% month-to-month. still down almo

i'm simon hobbs with sara eisen and david faber. on the west coast again today for the code conference. what have we got in store for this hour? >> a lot going on in the world of tech a lot of headlines here at the conference. gopro saying they are going to make a drone. target saying they are open to accepting apple pay in stores. sprint saying give us two years, we'll be the number one market. coming up this hour, we'll talk to the head of periscope, head of target.com facebook head of messaging, hollywood producer ryan grazer. >> let's check where we are in the markets. we are down 78 points on the dow. relatively rangebound if you look at the move we had recently. unable to break substantially higher. crude trades at $56.76. let's get to diana olick in washington with breaking news on home sales. >> pending home sales up 3.4% month to month in april. that is a surprise to the up side. the street was looking for barely 1%. a 3.4% gain month-to-month up 14% year over year. that is the biggest annual gain since september of 2012. p

carl quintanilla with sara eisen and simon hobbs. do you sell in may or stay and play?r the nasdaq had four sessions down. market trying to make up for some lost time. dow up oil steady. >> let's get our road map for the next 60 minutes. strong rally going into the first day of trading for this month. we'll hear from cowan ceo about what's ahead now for stocks. >> chevron handling beating expectations, but hurt by cheap oil. what you should be doing with the stock and how it could be affected by tesla's new battery system. >> expedia sharply higher today. we'll talk to the ceo of the online travel giant in a first on cnbc interview. hear what he has to say about hotel growth and that strong dollar. >> let's get to rick santelli in chicago. >> wow. it is interesting. march construction spending down 0.6. kind of exactly the opposite of the up 0.5 to 0.6 we were expecting. last month. stays unrevised here. we had negative 1.7 in january, february minus 1.1. now down 0.6. we haven't had three negatives on construction spending since the end of '09 and beginning of 2010. is

the most recent examples is the hobbs case. think that is an area where you more or less both agree. >> yes. christina's organization represented a muslim prisoner who wanted to wear a half inch a beard in prison. the case was brought under that religious persons act. we disagreed on how to pronounce acronym. she says rlupa. even then. that was a case in which brought the coalition together. a modest religious accommodation that is important to someone's religious belief granting a accommodation doesn't harm anyone. that is a case where we do agree that religious accommodation laws are serving their intent purpose. it would have been different if i have a religious right to not associate with women prison guards, i think that would cross over into imposing religious beliefs on someone else. we might disagree. the quintessential accommodation doesn't hurt anyone. no reason not to grant it. yes, i think there is plenty of room for agreement on this case. kristina: one of the reasons the supreme court ruled that this prisoner had