our simon hobbs is there.ershing square right here only on cnbc. >>> i'm extremely cautious about the markets. >> it will be a day of reckoning unless we get fiscal stimulus. >> this economy is not booming. on the other hand, it's not falling apart in any way, shape or form either. >> you absolutely need fiscal stimulus in this economy because i don't think our companies are doing well at all. >> debt can only be evaluated in relation to future income producing capabilities. the country's income producing capabilities have never been larger and they keep growing. >>> and a slow growth world what's an investor to buy? our traders give you their best picks at tradingnation.cnbc.com. more "squawk on the street" coming up. this is lulu, our newest dog. mom didn't want another dog. she said it's too much work. lulu's hair just floats. uhh help me! (doorbell) mom, check this out. wow. swiffer sweeper, and dusters. this is what i'm talking about. look at that. sticks to this better than it sticks to lulu. that's your

i'm simon hobbs. melissa lee. we're live at the nasdaq markets. the guys are getting ready behind me. this is what's coming up on "options action." >> yeah. that sums up apple this week. but if you own the stock, we'll tell you how you can get your money back with a simple trade. >>> plus -- >> walmart. always low prices. >> that certainly was the case today. it could be serving up a big warning to the world. we'll explain. and -- >> i love gold! >> you're not alone, buddy. but the man who called the bullion breakup said there is a better way to play gold. the options begins right now. >> okay. let's get to it. incident was the one thing captivating main street. it wasn't apple. walmart testimony hard today on very little news. issed tumble today a broader warning for the economy and for the market? let's get in the money and find out. dan, what do you say? >> i think there was a lot of things going on with walmart today. the stock was down 3%. the largest decline since february 18th when the company

for "nightly business report," i'm simon hobbs in havana. >>> before we go, here's another look at the gains made on the first day of the trading of this month. the dow gained 117 points to 17,891. the nasdaq added 42. the s&p 500 was up 16. >>> that does it for "nightly business report." i'm sue herera. thanks for joining us. >> i'm tyler mathisen. have a great evening and we'll see you back here tomorrow father palfreyman: through your goodness we have this bread to offer, which earth has given and human hands have made... and it will become for us the bread of life. seminarians: blessed be god forever. let us pray, brethren, that our sacrifice may be acceptable to god, our almighty father. seminarians: may the lord accept the sacrifice in your hands for the praise and glory of his name...

for "nightly business report," i'm simon hobbs in havana. >>> before we go, here's another look at the gains made on the first day of the trading of this month. the dow gained 117 points to 17,891. the nasdaq added 42. the s&p 500 was up 16. >>> that does it for "nightly business report." i'm sue herera. thanks for joining us. >> i'm tyler mathisen. have a great evening and we'll see you back here tomorrow announcer: "imagemakers" is made possible by the members of kqed.

over to simon hobbs with more of the exclusive interview with barry diller. >> thank you, john.ving us a chance to talk to the billionaire businessman about his merger of the dreamworks and also a good friend of jeffrey katzenberg and he talks about the sale of comcast to dreamworks. >> it is necessary and a little sad, and not overwhelmingly. >> and why is that sad? >> well, look, the dreamworks started when it is the whole thing which is movies, television, animation, and several other thing, and as an altertive -- alternative to the closed studio system. it was a studio with big dream, and for life reasons, god knows you could not have gotten three smarter people together, but for life reasons, interest reasons, changing times reasons, that dream of building that into an independent major company essentially didn't work out. it didn't work out, because little rally the members of that consortium all had their interests were not -- they were not as interested as time went in the same things. so it is a little sad, but by the way, how can you be sad? steven spielberg is making

we're talking about hobbs act extortion, which this court previously construed in both mccormick and evans to be perfectly valid upon the proof of a quid pro quo when the official asserts that his action will be controlled by a thing of value that he has received. and now we're talking about the question of what constitutes "official action" for the purposes of a common law crime that goes back centuries and was incorporated into the hobbs act. we're also talking about the honest services statute, which this court in skilling just six years ago determined could be construed -- justice roberts: well, yeah, "could be construed." i mean, there were, what, three votes to find it unconstitutional? and the others say, well, no, because you can narrow it in this way to the core definition of bribery. and now maybe the experience we've had here, and the difficulty of coming up with clear enough instructions suggests that the caution the court showed at that point was ill advised. mr. dreeben: well, i think it would be absolutely stunning if this court said that bribery and corruption laws, w

i'm simon hobbs. catch "fast money" again at 5:00 p.m.ad money with jim starts right no now. >>> my is simple -- to make you money. i'm hear to levre to level the field for all investors. there's 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 to cramerica. other people want to make friends, i'm just trying to save you money. my job is not just to entertain you but to make you money. tweet me @jimcramer. every night i come out here for two big reasons -- the first is obviously i like the attention. but the second and more important reason is i want to help you build and preserve

simon hobbs is on that ship. simon? >> hey, michelle.hip is now empty for the first time ever. american tourists are now holidaying effectively in cuba doing their special purpose activities. that's the only way can you get here, of course. more havana on your "power lunch" right after this break. my mom loves giving me advice. she even gives me advice... ...about my toothpaste and mouthwash. but she's a dentist so...i kind of have to listen. she said "jen, go pro with crest pro-health advanced." advance to healthier gums... ...and stronger teeth from day one. using crest toothpaste and mouthwash makes my... ...whole mouth feel awesome. and my teeth are stronger too. crest-pro health advanced... ...is superior to colgate total... ...in these 5 areas dentists check. this check up? so good. go pro with crest pro-health advanced. mom's right...again! >>> welcome back to "power lunch," everybody, historic moment in cube yachlt the first u.s. cruise ship in more than 50 years docks in havana. simon hobbs is one of 7 hundred people onboard. he

stacey says so happy about shark's hobb hockey. a lot of people are happy. the low clouds will burn off north to south. that's why there's breeze in the east bay hills. we're not -- warm air aloft has not kicked in. we have a sea breath in place for some. the low is moved into northern arizona giving flagstaff rain. the sierra nevada is quiet. 48 in novato, 48 in san jose. novato in there, petaluma. ceibas pool. napa 50. 37 in truckee. 51 ukiah. yesterday lake county, even solano county boom, today will be quiet. things went bongers yesterday, the low is too far, you can see where it is. that's allowing high pressure to build in. fog, drizzle but clearing sooner. get the north, northwest breeze. 60s, low, mid, upper 70s. and the trend is to warm it up. we'll do so more on friday. it will be nice the warm inland. cooler by the coast. >>> a nice weekend. >>> 5:fun is the time. grading our beaches, later we'll find out which beaches are the cleanest and dirtiest. up next what the grades are based on. . >>> welcome back, a bus driver from the south bay was honor

our very own simon hobbs is on board and will be reporting throughout the day on reaction from passengerswe'll talk to him on "squawk on the street." >> i hope he gets in the spurt, may -- spirit, has a few cocktails. >> he can have cocktails, but he can't go to the beach. that's not part of the rules. >>> to sports news and one of the most unlikely title wins in english football history will have to wait one more day. leicester city could have wrapped up its first-ever crown, but the foxes only managed a 1-1 draw. they can clench the title if tottenham fails tonight. just a year ago, they were nearly little ga nearly relegated from the league. >> i have no idea what you're talking about, but i know it's a big deal. i've seen a lot written about it. does it mean anything for your arsenal? >> arsenal has already had their season slightly collapse. i'm over that. everyone, everyone in the whole world of soccer is united behind leicester city, apart from spurs. >> it's chelsea in my house hole. >> no, your fiance will want leicester city to win. >>> "the jungle book" won the box office for t

our simon hobbs outside cue bachlt time for a cnb news update. let's go to sue herera. >> here's what's happening. the government of japan is conducting its own fuel test. it revealed it had been falsifying records some-on-some of its bed models for decades. >>> a court has upheld a ruling on the maker of faulty breast implants. at least 45,000 women were given the implants from 2001 to 2010. they were filled with industrial silicone rather than medical silicone. he's facing fines and is barred from ever runs a company again. >>> health care is a dangerous business. the report shows the health care industry is the most violent nonlaw enforcement industry in the u.s. researchers say the violence is often tied to patients with dementia, mental health, around substance abuse problems. >>> and take a look at the brand-new barbie. she's made in the likeness of misty copeland. the first african-american principal dancer with the american ballet theater. it's part of the barbie's sheroes breaking boundaries. >> love misty copeland. do you think with can

stage to perform one of the mc bride timeless contacts and then the resisting moments♪ and to by keith hobber the late meryl hagarrd. >> chris staple ton also one of the night's big winners love the song tennessee whisky took home award for album of the year for chart stopping album traveler and carrie underwood leads track for ladies taking home awards for feel voklist of the year. >> time 5:53 ahead stars of the circus took a final bow and elephants from the ringling brothers and barnum and bailey circus are headed for their brothers and barnum and bailey circus are headed for their retirement. at giant, shoppers low prices by the thousands, plus a thousand more that just dropped. all these low prices! what are you trying to do, get me to feed the whole neighborhood? no. just trying to save you a whole lot of "bread." [ laughter ] thousands of blue tags, thousands of low prices. my giant. >> favorite james taylor song, 5:56 david beckham 41 years oiled today elephants at the ringling brothers and barnum and bailey circus elephants are done today. they're entertaining crowds in rhode islan

and now, over to simon hobbs. >> negative territory for the european stock markets and the earnings havegreat, and one section that is moving is the italian banks to the downside, and the popularity came through with 8$800 million of write-downs which is increasing the speculation of more write-down, and the capital raises at least from the unicredit. and we have talked about brexit, and the bank of england has considerable challenges, and doing a huge amount of contingency planning for june 23rd saying that it could raise mortgage costs, and he is campaigning to stay on the side here, and he says that they have house prices which could be a difference of voting to leave the european union. and meanwhile n the uk, the production was poor. not necessarily because of the brexit, but because of the cycles of the uk and the u.s. on compared to everybody else. tomorrow is the bank of england meeting, and is it is going to be interesting if they are more dovish in anticipation of the brexit vote in the commentary or the vote. one thing that uk has done is to try to bolster the economy with gre

simon, hobbs, back to you. >> a lot more money is making more money.for what is coming up on u alley." >> thank you, simon. and for you, too, the lye games around and the recorded social game they have been in a long time, and we are going to dive into the numbers. amazon is holding the shareholder meet iing today as they are deeper on e speech, and automation, a wlepd see what is in forestore them, and the ceo of hp is going to talk about the future of 3d printing. all of that and more coming up on "squawk alley." recently, a 1954 mercedes-benz grand prix race car made history when it sold for a record price of just under $30 million. and now, another mercedes-benz makes history selling at just over $30,000. ♪ and to think this one actually has a surround-sound stereo. the 2016 cla. lease the cla250 for $299 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. so we don't have to wad to get clean.t charmin ultra soft gets you clean without the wasteful wadding. it has comfort cushions you can see that are softer... ... and m

simon hobbs, back to you. >>> thank you, rick.ak we will check in with citi's global head of m&a, mark schafer next on cnbc. ♪ (ee-e-e-oh-mum-oh-weh) (hush my darling...) (don't fear my darling...) (the lion sleeps tonight.) (hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. steve, other than making i'm here atme move stuff,rade trader offices. what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim. td ameritrade. >>> so far this year with the global m&a activity which is down 20%, and now another deal has collapsed and as we are talking about office depot and staples merger denied because of an tie trust issue. and now, as joining us

. >> simon hobbs, thank you. >>> meanwhile, is the stockbrokerage industry on the verge of major consolidationr next guest says falling revenues, increased regulatory red tape and higher costs will drive a majority, a majority of the existing securities firms to either merge or disappear completely. joining us exclusively, a pioneer of electronic markets, thomas henerfee of interactive brokers group where he is the founder, chairman and ceo. welcome to "squawk alley." >> thank you. >> i want to start with a quote that you gave to the financial times, saying only one-fifth of brokerages will survive. there will be fewer and bigger firms, trading will be extremely cheap and efficient and there will be more semi-automated trading algorithms. sounds like that sentiment could have been pulled from any time period over the last five to ten years. i'm wondering why you think now is the tipping point for this activity. >> so there are currently about 4,000 registered broker dealers in the united states and regulation and competition will drive this number much lower. of these 4,000 brokers, only about

they all came to them later in life sort of on their own, like calvin and hobbs has kids but not necessarilynot something you have had to grow up with. you can come in at any point. the beauty of it is the story telling. that's what they really want to focus on. it's all about a good read. >> i understand they made you a superhero? >> oh, yes, they did. >> really? >> they asked me what i would like my power to be. i said i need to be in two places at once. i introduce you to split second. >> split second? >> amy reader came up with a whole design, put this whole comic together. when i hear a story is breaking i can race out in a split second, save the world, calm back and calmly report the news while my co-anchor is freaking out. >> coming to you in summer 2017. good story, erica. thank you. >>> prince harry brings wounded warriors from around the world together in the invictus >>> good sunday morning. happen mothe happy mother's day. we expect skies to be clearing later on today w some sunshine. there is the good news. and with that sunshine sh we anticipate temperatures bumping across the

they all came to them later in life sort of on their own, like calvin and hobbs has kids but not necessarilys not something you have had to grow up with. you can come in at any point. the beauty of it is the story telling. that's what they really want to focus on. it's all about a good read. >> i understand they made you a superhero? >> oh, yes, they did. >> really? >> they asked me what i would like my power to be. i said i need to be in two places at once. i introduce you to split second. >> split second? >> amy reader came up with a whole design, put this whole comic together. when i hear a story is breaking i can second, save the world, calm back and calmly report the news while my co-anchor is freaking out. >> coming to you in summer 2017. good story, erica. thank you. >>> prince harry >>> one shower is coming into southern calvert and northern st. mary's. elsewhere, we'll get hazy sun. it's actually smoke from the alberta wildfires. afternoon highs low 70s. tomorrow up near 70, might get a midday shower. afternoon shower possible on tuesday. afternoon then wednesday apand thursday, bot

. >> thank you, simon hobbs.ttle in the battle of music, and streaming with pandora and spotify. olay total effects a skin transformation that rivals the leading department store moisturizer. revives skin to fight 7 signs of aging. with olay, you age less, so you can be ageless. olay. ageless. >>> good morning, everybody. i'm sue herera and this is is the cnbc news update for this hour hour. president obama visiting hiroshima, and the first sitting president to visit that city since the u.s. dropped the atomic bomb in 1945. after speaking at a memorial, he met and spoke briefly with two men in the audience who survived the blast. >> a u.s. sailor confessing in court to raping an intoxicated japanese woman who had passed out in a hotel in okinawa last march. the seaman will be sentenced in july, and he was stationed at a u.s. base in okinawa. >>> eight automakers are recalling 8 million vehicles in the u.s. as part of takata airbag recall. >>> and houbtw about this, 96-year-old dr. harry heimlich performed his man

roberts, it's simon hobbs.e, and that's the cord cutting. and what you described as a milestone that alluded you for nearly a decade and the ability to add more video customers last time around. and a lot of that had to do with the investment you would say yourself in the new set top boxes and the voice control. is it your belief that you can actually turn the tide and the assumptions that many people have about cord cutting longer term? i mean, could we say actually that it's not the phenomenon on the scale ultimately if the investment continues that many people have predicted? >> look, i don't have the perfect crystal ball any better than the panel you're with, and analysts and investors, but what our company's trying to do is make sure we're really available to customers wherever they want to go. some customers clearly will not buy a bundle. some will want a skinny bundle. and some will take it a different way. and that's part of why we bought nbc universal. that's why we're adding content with dreamworks. a

i'm simon hobbs. catch "fast money" again at 5:00 p.m. mad money with jim starts right no now. >>> my is simple -- to make you money. i'm hear to levre to level the field for all investors. there's 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 to cramerica. other people want to make friends, i'm just trying to save you money. my job is not just to entertain you but to make you money. tweet me @jimcramer. every night i come out here for two big reasons -- the first is obviously i like the attention. but the second and more important reason is i want to help you build and preserve your wealth. we live a world where it's increasingly difficult to become rich if you weren't born that way and, love it or hate it, i believe the stock market is the best ladder we have in this country for social mobility. there are million upon millions of people in this country but there simply aren't that many jobs that pay you a salary fat enough to actually make you r

. >> simon hobbs, and when we come back a nice rally on the nasdaq after it closed at the lowest levelch, and semis are having a good day, and amat with the best day since '08, and we will talking about that after the break. this might look like a zero-gravity drop... but it's actually a triumph of predictive analytics. because of optum. through population health data, they provide insights so doctors and hospitals can identify high-risk patients. like me... asthma... potential hospital visit. so now thanks to optum, this asthma thing's under control. gravity not so much. this is healthier, powered by optum. from health plans to providers to employers. we connect all parts of health care. healthier is here. >>> good morning, everyone. i'm sue herera, and the cdc says fewer than one dozen infected pregnant women in the u.s. and puerto rico have had lasting effects as a result of the zika virus. >>> and in okinawa, there is a murder that is outraging the president abe shinzo and demanding a response. >>> and today n a paris court, salah abdeslam invoked his right to silence, because it i

let's bring in simon hobbs. >> some of the european markets weren't open at all today, germany and switzerlandbecause it's the day after pentecost. the trading was negative, catching the dow drop from friday and we cut many of those losses working through the session. broker brodowngrades are leavin stocks. today, the finance minister suggested that it would be a one-way ticket to a poorer britain, echoing the bank of england, the imf, answering back to the 300 business leaders who signed a letter to leave in this morning's daily telegraph, arguing that regulations from the european union undermined competition. separately, the uk prime minister spokesman says he is standing by his very vocal criticism of donald trump on the muslim ban. that's relevant because donald trump did an interview with uk television over the weekend in which he suggested he probably would not have a very good relationship with david cameron and seemed to suggest some sympathy with the vote to leave the european union. >> i think if i were from britain i would probably not want it. i would want to go back to a differen

simon hobbs took the journey on board the ship and joins us once again live from havana. hey, simon. >> reporter: we are just beginning now to disembark. the passengers are disembarking from the lower levels. here we are in havana. that's basically it for the cruise ships because there is only one dock, a shallow side and deep side and we are here. so nobody else can get in. that's part of the problem as royal caribbean and norwegian look also to start doing cruises here. how will they deal with the capacity? it's a point i put to arnold donald, ceo of this shipping line, carnival, earlier. take a listen. >> we have been talking with cuba about that. of course, we have plans to come with additional brands. we have ten, as you know. the other cruise lines are planning to come as well. but it will be paced over time. >> reporter: for that, probably one or two extra slots every now and again. there are 160 ships out there in the caribbean at any one time. that's getting off half a million people and they are passing cuba all the time. for those people, that do go on cruises,

. >> thank you, simon hobbs at the european close. >>> and meanwhile, donald trump laying out some of the energy plan, promising to scale back some of president obama's environmental regulations, and stop funding any international efforts to address global war g warning. our next guest is a member of the obama administration, and the person who is behind many of the policies and happens to be in the san francisco area for talks on climate change, and ernest moiz is our secretary of energy, and it is a pleasure to have you on "squawk alley" today. >> it is great to be here. >> great to have you. and tell us what you have scheduled for this week talking with the companies about their own energy usage as well as energy ministers from the other foreign administrations for discussing six months in. >> and the paris agreement was a major first step towards addressing the economic needs and the environmental needs and of course, the energy and the energy needs, and so what we are doing here is to taking off from that meeting where clean energy and ovation is established as a critical way to

. >> simon hobbs with that update, thank you. >>> and up next, shares of pure storage is on track of the worst day since going public in october, down 18%, and at least seven brokerages are cutting the prices on the stock, but the ceo of pure storage is going to join with us his take in a moment. >>> i'm courtney reagan and this is the cnbc update. it is official that donald trump has reached the number of delegates needed to reach the nomination for president. by nbc news's count he has crossed the 1,237 threshold and with 330 delegates left at stake, he will easily pad the total. >> and now, french union activists are protesting at one of the nuclear power plants because of displeasure of the labor reform bill that extends the work week, and makes layoffs easier. >>> and researchers are saying that there are things that women of high risk of breast kacancer can do to risk getting the disease, and among them, avoiding hormone replacement therapy, and stop drinking alcohol. >>> and in california, the 8,200 fo four-story brick home has 9 bedrooms and 8 1/2 baths, and it will be for sa

of some say that a brexit vote raises risk ahead of a fed meeting and before that vote, and simon hobbshere to walk us through what we heard from post 9. >> well, that is in the weeds discussion of the united kingdom as to the news flow they are dealing with. it is an impassioned plea for the uk to stay in the eu, and they are running into the events in the press, and there is a suggestion from another committee that it would take 5 to 7 years for them to renegotiate the trade deal with the rest of the european trade union, and there sis a suggestin if they voted to leave the european union they could reverse the vote if there were a change of government in the uk, because clearly the prime minister would have to resign, so the reversibility is part of the question ing thing that the going through, and to repeat, this is very important, because the polls are connecting, and i'm being disingenuous to the leave because they are slightly ahead, and with seven weeks to go, this is unnerving for the people who are trying to run businesses that export and import to the rest of the union, beca

nature, and human that's where thomas hobbes starts. he said this is what you need to solve it. that was the beginning. the three scottish enlightened scholars, francis hutchison and david him, who says we do have self-interest, but we also have this thing called in a benevolence. it's really little, but it's there. that? they know bid you like to david hume, and imperious sister. ,e experiences this benevolence with a benevolence is such a good thing. we evaluating others, we value within ourselves. he believes that the part of human nature. francis hutchison will tell you that god gave that to us so we would get along. david hume said it's part of our nature, we are born that way. he doesn't know how it got there. adam smith also believed was part of our nature. then we had this little gizmo of caring about others. it can be shrunk, and it can be expanded. so here's where we start. this is where we start with any public policy, with anything that the scots would write about. course well was of have self-interest. ,ut we also have this thing this interest in the welfare of othe

this is an existential reflection on what richard hobbs projected if states are not going to the be the powerful mechanism by which we organize global politics and economics what is and should we be trying at the end of the era of the state to shore up states. again, i think there is strong burek sis. israel turkey iran egypt tunisia but these institutions are themselves becoming increasingly the tools of particular purposes. and not serving the sort of formal -- as the sort of formal impersonal apparatus that can effectively collect taxes distribute goods and provide services equityably among citizens. iran is already deeply sectarian. the ethnic and sectarian coloration is becoming more obvious. this has been jockeying for supremacy. even in israel the attachment to mid 20th century norms is giving away to open expressions of religious and intimate bias. so clearly eevep in the strong states the question of whether these are going to be serving the citizens as opposed to some ethnic religious familial purposes is an open one. elsewhere in the vacuums of almost completely failed states

simon hobbs, back to you. >> rick santelli and ken rogoff, thank you very.n a long time coming but now it is official, brazil's president dilma rousseff, suspended. rousseff speaking just moments ago while our chief correspondent joins us with the latest. she's still defiant, michelle. >> absolutely. these are live pictures coming in now. there are protesters for and against rouseoff because of the dramatic political events that have happened in the last 24 hours. she has handed over power to her former ally, this whatever a marathon 20-hour debate in brazil's senate. it started at 9 p.m. last night, ended this morning at 6 a.m. only 22 senators supported her. the vote was an intense moment for the country of brazil, protests in favor and against rousseff's impeachment occurred outside of parliament throughout the night. shortly after the vote ended, dilma rousseff denounced the vote as a coup. what was critical in this vote was the scale of her defeat, which foreshadows the next vote, post that trial, to permanently push her out was office, 54 senators or t

good evening, i'm simon hobbs in for melissa lee. the traders on the desk are here with me.f america's warning to the world, find out what has the firm saying that could be a 15% correction around the corner. and why they're reasoning for that. signs of a bottom for biotech. the smart money is flowing in and the deal making is coming back. we'll show you whether it's just a short-term bounce or if there are more gains in store. and later, opec on deck. and the commodities king dennis gartman said hesn

that crosses the line into bribery, i think you do have some very serious vagueness concerns with the hobbs act and on a services question -- justice kagan: can i ask -- justice roberts: sure, sure. it depends on who's making the referral or the call, right? in justice breyer's hypothetical, if it's a congressperson calling somebody and saying, could you look into this matter for my constituent, the person should look at it, i suppose, and then and that's one thing. if it's the president who calls and says, i want you to look at this matter for my constituent, that might exercise considerably more influence. mr. francisco: two things, your honor. first, you still do need to tell the jury that that's what they have to find. and here, the jury was never told in any way, shape or form that they had to find an attempt to influence. so i think that is sufficient, in and of itself, to, at the very least, require a new trial here. under these instructions, as the government itself seems to agree, any action within the range of official duties constitutes official governmental action. so justice ke

i'm carl quintanilla with sarah eisen, simon hobbs and david faber at the new york stock exchange.he green but big week ahead with specialty retail earnings, fed speak, housing data and yellen on friday. oil being a little troublesome this morning with stronger dollar action as well. >> our road map begins with the market. is the market really ready for a june interest rate hike? we've got new comments from the federal reserve. >> there seems to be no end in sight for trouble at the tsa. we'll get an update on what travelers can expect ahead of memorial day. >>> the viacom saga heating up with the filing of a new suit this morning plus the board complaining about a lack of access to redstone. we have the late egs details on all of that drama. but let's start with the market, stocks relatively flat as oil prices slide, as carl just mentioned, and investors brace for a possible shift in fed views. so which sectors should investors be focusing their attention on this week? joining us is our very own mike santoli and david kelly, chief global strategist at j.p. morgan funds. before we

i'm carl quintanilla with sarah eisen, simon hobbs and david faber at the new york stock exchange.g reversal as the s&p revisits 2073, disney in earnings tonight, wholesale inventories by the way crossing your screen. you see them up 0.1 for march. >>> our roadmap for the hour starts with gap. shares are plunging double digits on another sales miss. we'll talk to an analyst who had a sell on the stock. >> recovery in stocks and commodities this morning dow in triple digits as oil market remains in focus. >> and mcdonald's hitting another all-time high the stock up big in the last year. can the run continue? more on the golden arches. >>> first up though april adversity continuing for retail. the gap reporting a drop in same store sales for the fifth straight month in april. retailer still struggling with banana republic and old navy stores as demand weakens. for more on the gap joining us at post nine is retail analyst at deutsche, paul, welcome back. good to have you. >> thanks for having me. >> cramer's words in the last hour, lost their way. identity crisis across the board, he

welcome back to "squawk on the street," i'm carl quintanilla with sarah eisen, simon hobbs and davidyork stock exchange. dow, s&p, nasdaq all now green for may, oil within sight of 50 for the first time since october. we're also going around the president in japan today meeting with prime minister shinzo abe. any headlines and we'll get them to you as soon as possible. >>> in the meantime our roadmap this morning starts with another canary in the coal mine for retail. tiffany sales coming in weak. we drill down for more on luxury spending ahead. >> new cheaper chain launching today for whole foods. can it fix their cheaper stock price? the co-ceo walter robb joins us from the aisles of the new concept shore. >> also the man at the helm of tsa heads to the hill sitting down for testimony in congress as we speak. the latest on the outrage heading into a big travel weekend and how one company is taking matters now into its own hands. >> but we start with a stock market rally. the fed has signalled it's more likely to hike rates in june, so what's fundamentally different? what has actual

i'm carl quintanilla with simon hobbs and sarah eisen.heir early losses about in half. dow's down 52. s&p back to 2056. and oil getting a little action ahead of inventories. let's get to rick santelli. ism services, rick. >> absolutely. april read on ism comes out at 55.7. definitely better than we were looking for. sequentially higher following a 54.5. when was the last time we had a number 55.7 or higher? well, that will take us to the last read of last year when it was 55.8. it definitely is a high water mark of this year thus far. and considering everything going on with the weak adp, what was the component for employment 53.0 up from 50.3, new orders 59.9 versus 56.7. so this is a pretty good number. now of course we have others. let's look at factory orders for the month of march. factory orders were expected to be up six tenths, they are up 1.1 following a slight revision to down 1.9 last month. if we look at durable goods orders this is the final read for march expecting up 0.8, it was and follows up 0.8. maybe the most important

simon hobbs on assignment.t the markets, selling continues on this second trading day of may. dow's down 170. oil not helping as it works its way back to 44. we're watching that. >> our roadmap begins with our exclusive interview with apple ceo tim cook. what he told our very own jim cramer on "mad money" as he tries to ease investor worries, especially about that slowdown in china. apple's former ceo john sculley weighs in. >> weak chie that data putting u.s. markets in the red today. but are the worries overblown? >>> martin skre shkreli heading back to court today. >>> coming up later on, sprint posting wider than expected loss. stock is up this morning and marcelo claure will join us in a few moments. apple bouncing back after the tech giant reported its first ever quarterly decline in iphone sales last week. in our exclusive with our own jim cramer, tim cook defended the company against claims that their best days are behind them. >> i couldn't disagree more. >> okay. here's what i see, the smartphone mark

i'm carl quintanilla with sarah eisen simon hobbs and david faber at the new york stock exchange postething it's not done in about a year and a half but for the time being looking at mild gains. dow is up 109, s&p working its way back to 2053. oil not helping in the red slightly. it will be not only a busy day as we digest some of these retail earnings and campbells soup and a-mat, but over the weekend we'll get this g-7 finance minister meeting, guys, a lot of discussion what it means for japan policy and the like. >> they're talking negative rates, they're talking about japan's currency problems like the strengthening yen though. doesn't look like we'll get any sort of consensus from the g-7 countries when it comes to growth, but potentially market moving headlines because the world's most important finance ministers and central bankers are there talking about the issues of course that we care about. but there's this discussion on what to do with fiscal stimulus and how much to intervene or not intervene on currencies. >> ahead of that existing home sales right now with diana olick.

i'm carl quintanilla with simon hobbs and david faber at the new york stock exchange.week in about 12 on the s&p, but with some mild gains today up 22 points on the dow. s&p just adding a touch, and then crude settling back after hitting 50 earlier in the week. let's get to rick santelli. got some breaking news on consumer sentiment. hey, rick. >> yes, thanks, carl. our final may read on consumer sentiment from the university of michigan. keep in mind our mid month read was 95.8. new number, 94.7, so you take the 95.8 out, it doesn't really count. sequentially that's coming off an 89, that was in april. now, here's what's fascinating, the mid read at 95.8 was the best since june of last year, so ten months, which was 96.1. we still comp to that same month so this is a ten-month best at 94.7. just to put a face on it, january of last year we had a read of 898.1, the best since january of 2004, so pretty good news there. are markets moving on it? let's check it out. we are seeing very little trade in treasuries. it's active, but it doesn't seem to be moving much. dollar

i'm carl quintanilla with sarah eisen, simon hobbs and david faber at the new york stock exchange.currents this morning, market's up even though dollar's stronger, oil recovering from earlier losses. we want to get right to rick santelli in chicago with the latest new home sales levels. rick. >> yeah, carl, i have some weird data coming out here. now, minus one on the may richmond fed manufacturing index, minus one lowest level since the minus 4 we had in february. but here's the surprise, even a shocker. let's look at april new home sales. 619,000. that's seasonally adjusted and annualized up almost 17%. but get this, this is the highest level since january of 2008, january of 2008. so it's going to be very fascinating to watch. hey, maybe they're all starting to listen to janet yellen and jump off the fence. i'm not sure, but i know one person who's got her shovel digging into the data right now. let's head west and see what diana olick has to say about today's strong new home sales. >> reporter: well, rick, you said weird. i'm going to say way weird. i mean, this is up nearly 17

i'm carl quintanilla with sarah eisen, simon hobbs, david faber at the new york stock exchange. action but being dragged down by goldman going to a neutral over equities over the next 12 months. crude hanging onto 48.50. >>> our road map starts with more retail pain. target shares reeling. the company's revenue and outlook missing the mark, but lowe's and staples are looking up. >> facebook turns four as a public company today. ipo of course in 2012. what a better way to celebrate than a meeting with conservative media at headquarters in menlo park at potential bias at the platform. >>> and a controversial decision from the white house unveiling the long-awaited rule to extend overtime pay. we'll talk to labor secretary thomas perez. >>> s&p 500 almost exactly on the flat line, market edging up the probability of a summer interest rate hike. senior economics reporter steve liesman is in washington ahead of course today the fed minutes and importantly vice chair stanley fisher speaking tomorrow. you know, steve, it's not just the strong retail data we've had or the lively inflati

i'm carl quintanilla with simon hobbs. kayla tausche, david faber at the new york stock exchange.st four sessions for the time being dow basically flat, s&p at 2101 for the first time since april 20th. and then check out oil just below 50 on a week where energy's going to get a lot of attention as well. >>> meanwhile, we have data hitting at this hour. let's get to rick santelli atd the cme. rick. >> much like chicago pmi this one's a disappointment. 92.6, we were expecting a number slightly north of 96. last month gained 0.5 from 94.2 to 94.7. but here's the fly in the ointment, that number 92.6, well, we equal that in november of last year. you go all the way back to july at 91 to find a weaker number. so a bit of a dis appoiappointm there. equities are of course just a bit in negative territory. and we look at the treasurietre ten-year getting close to 190, kind of like it was before it took its hiatus going into the long weekend. simon, back to you. >> of course it's the employment report, the big one on friday, rick, thank you very much. meantime markets essentially reopening

i'm carl quintanilla with sa sara eisen, simon hobbs and david faber at the new york stock exchange. retail remains acute, especially on some of the specialized guys. oil also with some losses down to 46. >> but first we have consumer sentiment and business inventories. let's send it over to rick santelli. >> well, let's go in reverse chronological order, thank you, thank you. we have a march number for inventories and that's up 0.4, double what we expected. interesting thing about when you increase inventories, more widgets end up with better growth numbers on revisions, keep that in mind. the more realtimes are preliminary read for may on the university of michigan sentiment. and in this regard we're looking for number just a little bit south of 90, we're way north of 90, 95.8. remember, this is preliminary. now, comparing that to all the final numbers, this would be the best number since june of last year at 96.1. so a nice surprise on most of the data points this morning. to the upside. back to you. >> thank you very much, rick. retail stocks continue to get hammered. jc penney o

i'm carl quintanilla with sara eisen, simon hobbs, david faber at the new york stock exchange.commodities, and specifically oil, are acting as an anchor around their ankles. crude giving up gains from earlier this morning. >> a lot happening in the oil market. crude near session lows, as carl mentioned. the wildfire raging on and there's a shake-up in saudi arabia. also on markets, it's a big week for retail earnings. jcpenney, macy's, nordstrom all set to report. >>> also ahead, shares of lending club plunging today. the company announcing the resignation of its ceo. the drama inside the company board, of course, that includes john mack and larry summers. >>> and donald trump changing his tune on taxing the wealthy. so, will his supporters be backing his new views on tax policy? >>> and coming up within the next 20 minutes, "captain america" was a big, big win at the box office this weekend. how to play the superhero game from the ceo of amc entertainment. adam aron will join us for his first on cnbc interview. >>> first up, stocks are slightly higher as oil prices fall and th

. >> pat hobbes put out a channelling for a hundred million fund-raising campaign to modernize the sports-sports facility in piscataway. i spoke with him the other night. stay tuned for more. >> you didn't work with our supervising producer and becky on this? >> i didn't see her. come to a game. great seats on the 50. >> let's talk about that when we go to break, greg. but thank you. i don't steal from you. >>> thanks to our guest host this morning, greg brown. now joseph. >>> coming up, primary day. voters in nebraska and west virginia heading to the polls. there may be new states in play on the electoral map. we'll dig inside the election math next. >>> then later, president obama's record on jobs. has the labor market really recovered as much as it looks like. the debate with alan kruger and ed la zeer. >>>. >>> new election math. clinton-trump, a third-party candidate. the issues, the electoral map and what could turn the tide if you think conventional wisdom has the answers, you haven't been paying attention. to veteran political watchers debate straight ahead. >>> will the force be