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investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >> driving down the value of the currency there. the dollar is up 17% . >> we will tell you how they are doing it in the next half hour. >> and a lot of heat in washington today. >> it is an embarrassing story for the obama administration. >> the irs denied it in a hearing to congress that it wasn't true. i just got off the phone with an irs conference call where they are acknowledging that inappropriate screening of tea party related political organizations took place. they say it wasn't for a partisan purpose. here is their explanation. >> many applications are still pending but this is something that republicans are already asking for a government-wise review of this conduct. when you put this story in combination with some of the questions that have been raised about the administration, publish statements on the hearing over the last couple of days, it does add to an embarrassment for the admini

bny mellon combines investment management & investment servicing, giving us unique insights which helptract the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. >> let's get an update on the markets. we have come back a little bit. we are almost back to the unchanged level. >> he is a dove and a voting member. he said bond purchases will continue until substantial improvement in the labor market. i don't think they see it yet. take a look at the dow jones. on a typical day the dow industrial moves about 125 points. options exploration. there is a lot of shorts in gold. remember the obama administration approved a big texas export. you can own these stocks in that exchange traded fund. will get their earnings report. lowe's was. these stocks have had huge runs. >> bob. thank you so much. one of the things that is competing for investor interest is the bond market. it seems to be going the way of stocks, not bonds. we have the five year note. a loot of p

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investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >> back now to the queen of breaking news this hour. mary tompson with yet another update. >> hurricane season starts on june 1 and runs through november 30th. predicting it will be an above normal hurricane season this year. they are predicting we would see 15 to 20 name d. so again, noaa is predicting an above average hurricane season. >> you must believe that people on the jersey shore and long island who went through so much last year are looking at the forecast very carefully and warily. the kudlow report is in the penalty box again. two minutes for high sticking. i get ahead of myself. >> we decided we would steal larry and bring him to our side. we're happy to have him on the power lunch team today. we have a couple of topics to discuss. one is the fed. you know, we had bill dudly out earlier this week and we had mr. bullard out earlier this week. yet at the same time when the fed minutes cam

investment management combined with investment servicing. inging the power of investments to pple's lives. invested in the world. bny mellon. ♪ lou: our next guest says it is clear the obama administration as willful blindness to the continuing threat of international terrorism is a major reason for some of the mistakes that were made before, during, and after leaving gauzy terrorist attack. joining us now, former u.s. ambassador, fox is contributor. let me start, this president, this press secretary is seeming determined to screw up and contradict themselves day after day after day. would it be not more simple to simply step forward and talk candidly to the american people? >> that would require a real president. i have never seen the administration, especially one by the renowned constitutional scholar that we have and the white house that does that seem to underssand that the presiden is in charge of the executive branch and while he is able to take credit for all the wonderful things that can happen , our military kills osama , he is also

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investment management coined with investment servicing. bringing the power of investments to people's lives. investment management coined with investment servicing. ininvested in the world. bny mellon. lou: president today. reaffirmed his confidence in attorney general eric holder. my next guest served in obama justice department, and has subpoenaed records from a news organization in his experience, and he will share it with us tonight, joining us christian adams, autr of the book, "injustice" let's turn to what is happening internal revenue service looks like it is about to bome a bigger scandal because of what administratio tried to do, which is ignore fact that woman who led tax exempt division of left in place, of all of the departments, the affordable care it that will manage 16500 irs agents to support the individual mandate and obamacare itself, it could n get much worse for that one small unit, could it? >> probably not this administration knows how to use power and loves it, they put their most reliable, idea call, seasoned career

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investment management combined with investment servicing. he power of investments to people's lives. invested in the world. bny mellon. >> bad news on homeownership in the united states. last time it this low, ldial up all . rage and gas was a dollar a buck and xfiles topping the tv chartings. sabrina said low homeownership is great news. explain. >> it is good news if we are talking about the national correction. we find that they are more financially responsible. i am concerned about healthcare and retirement process, but i am concerned thalt federal policy under clinton and bush to push people to buy homes with government-backed risky loans led to the economic down turn and we can't ignore that. >> rick, is it better to be frugal. >> that is the issue and we are a few years away. it is natural investors are the first this and those of us who get involved in the residential real estate see a bright future in the rental market. it will take a couple of years to see how it normalizes. >> morgan has been delving in this. what do you think morg

investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >>. >> welcome back. tells la striking while the market is hot. the electric market announcing a 2 million share of common stock will be offered. the ceo buying $100 million worth of shares at the public offering price. the company intend to pay off the department of energy loan with interest. shares up more than 6.5%. up 66% in a week. 112% in a month. melissa, back to you. >> thank you, courtney reagan. >>> a company paying back the doe loan with interest. >> that was one of the negative cases on tesla. the regulatory issues. they want to get that out of frame. i'm surprised that the stock is higher, not lower. obviously as a result of mr. musk buying into his own secondary. he will get a better chance, i predicted this yesterday, not the timing, at some point they should raise money. i would hold off for a better buying opportunity. i don't think this thing will keep going without the pause. >> t

investment management combined with investment servicing. of investments to people's lives. invested in the world. bny mellon. >>> hi, everybody. happy tuesday. welcome to the "closing bell." i'm maria bartiromo at the new york stock exchange. this market has moved to the upside once again this afternoon. >> i'm bill griffeth. now, if it's tuesday -- >> we should have expected it. >> if it's tuesday, what does it mean, maria? >> rally day! >> 19 consecutive tuesdays we've been trading -- i have traders coming up to me, reminding me of that. we go back to january the 15th. i was tweeting earlier that this has become the joe dimaggio stock market. i mean, he had 56 consecutive games where he hit safely. the dow up 19 consecutive

bny mellon combines investment management & investment servicing, giving us unique insights which helpact the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. tens of thousands of dollars in hidden fees on their 401(k)s?! go to e-trade and roll over your old 401(k)s to a new e-trade retirement account. none of them charge annual fees and all of them offer low cost investments. e-trade. less for us. more for you. >> time for what i need to know next week. tracey? >> no surprise that the airlines are nickel and diming. frontier 1.99 for cough yejuice and soda? >> you have a problem to pay for coffee. >> i am sick of it. >> free market, john, right? >> you pay 2.50 on star bucks. >> not on the plane, come on. >> wayne, what is your call this week? >> first of all, i haven't p money in the rally. i am a little suspicious of it . i am nervous . i am saying lookingalt the long term look at google. >> wow, that is a big one. >> interest rates spiked up on fri

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investment management combined with investment servicing. ng the power of investments to people's lives. invested in the world. bny mellon. faso you want to save on autoof insurance?. drive a hybrid. get good grades. lose the bling. go paperless. combine policies. make automatic payments. and of course, talk to farmers. hi ♪ we are farmers bum - pa -, bum - bum - bum - bum♪ >>> all right. busy day on wall street as the record rally continues to roll on. let's start with famed head fudge managers david tepper's bullish case for stocks. take a listen to this. >> i'm definitely bullish. it's so overwhelming. the economy is getting better. autos are better. housing is better. it's a continuous improvement. they can't find enough people to work in housing, the only thing holding it back right now. >> all right. we basically want him on every day, did tepper's bullish call help? of course it did, always does. great reputation, made great calls. rebecca patterson, chief investment officer of best trust. stephanie link of the street. isn't it thestre

voted "best investment services company." >>> i hope you will join me tonight at 3:30 a.m.ision that a lot of people felt was negative. we're in europe's hands tomorrow, if not our own. you know what, that doesn't make me feel all that good. i think that's a major reason we had a sell-off. i'm jim cramer, i will see you >>> leaf center, nazem kadri young but he is eager to test tuukka rask. next on cnbc.

investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >>> welcome back. bank of america ceo brian moynihan coming face to face today with investors at the annual shareholder's meeting. kayla tausche was there. >> bank of america shareholders is spent three hours lobbying questions at brian moynihan as well as chad holliday, but little controversy emerged down in charlotte. executive pay was approved and the 13-member board affirmed, each member getting at least 96% of the votes. the group included six new faces appointed in the last year, in face of the five directors stepping down. but of the five proposals submitted by shareholders, from political contributions to board nominees, none passed. but one did get a significant a lot of attention. it was a call for b of a to publish a thorough review of its foreclosure and mortgage servicing practices. a quarter of investors supported the move, which comes as the bank remains mired in crisis litigation ove

investment management combined with investment servicing. power of investments to people's lives. invested in the world. bny mellon. >> back now at the investor summ summit. >> you introduced the topic of fannie mae and freddie. driven in part by some accounting charges. the company got about $116 billion in bail-out money. how would you in a fannie and freddie and what do you think should happen to those two? >> clearly they should now be abolished. >> some of us did try to stop the sub prime lending. people forget that. the bill with another democrat to start sub prime lending and it was stopped by tom delay who said it was a violation of free market principle. when i first became the chairman, i worked with hank paulson and we put the rules into effect that stopped the bad thing, gave them the power to put it in conservatorship. i think that's pretty good. what i think should happen now is they should be abolished. >> almost everybody who is in the housing market. >> and the way that people are moving, i believe, some republicans and admi

investment management combined with investment servicing. ging the power of investments to people's lives. invested in the world. bny mellon. cavuto on business. have a great day. >>> all right. you get by with a little help from your friends because when the government wants to snoop on a.p. reporters or oher reporters like fox's jam rosen it needs help from verizon and google to get access like calls and e-mails. usually the companies say no problem. adam, you say when that happens, big problem, huh? >> yeah. the bar should be extremely high before telephone carriers and internet companies give anything to the government. they should resist as much as possible. we don't have an absolute right to privacy. the government can demand this information. but they should do it the right way. >> what do you think of this, ben? >> well, i think that the leak must have been a ser gigantic important leak for them to have gone to all this trouble and for them to be attacking fox. i serusly question whether it's just a leak or whether it's another iterat

anagement combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. before we commit any more capital. "mad money" we'll be right back. >>> coming up, in plain sight, have you ever gone for the cheapest store brand at the pharmacy, then this might be the best stock you've never heard of as the big names fight for domination in the drug store, could this steady player give you relief? don't miss cramer's exclusive with parago's ceo. later, online reservation's giant open table served up profits in the first quarter. but can it compete as more diners want dinner plans on the move. cramer hosts the ceo for an exclusive interview just ahead. [ music playing ] [ driver ] today, my ambulance knew all about a bike accident, just by talking to a helmet. it grabbed the patient's record before we even picked him up. it found out the doctor we needed was at st. anne's. wiggle your toes. and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots a

investment management combined with investment servicing. the power of investments to people's lives. invested in the world. bny mellon. it's debilitating when you try to talk, when you're trying to eat, when you're trying to sleep. i'm constantly licking my lips. water would address the symptoms for just a few minutes. the hygienist recommended biotene. it's clean and refreshing, i feel like i have plenty of fluid in my mouth. i brush with the biotene toothpaste and i use the mouthwash every morning. it's changed my life. it is the last thing i do before i walk out the door. biotene gives me th fresh confident feeling. >> neil: kids take a hike. more colleges are finding out the hard way they kept upping their tuition and guess what? kids and their parents now saying up yours. and moving on to cheaper campus pass -- pastures. now the schools are in trouble. this has not happened at the ivy league schools. so ben is a pointless person to toss to. but what do you make of this, ben? >> i make of it that there is a lot of kids in college gettin

investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. ♪ je t'adore ♪ c'est aujourd'hui ♪ ♪ et toujours ♪ me amour ♪ how about me? [ male announcer ] here's to a life less routine. ♪ and it's un, deux, trois, quatre ♪ ♪ give me some more of that [ male announcer ] the more connected, athletic, seductive lexus rx. ♪ je t'adore, je t'adore, je t'adore ♪ ♪ ♪ s'il vous plait [ male announcer ] this is the pursuit of perfection. >> members of congress getting their first chance to tee off on the irs in the wake of the admission that conservative groups were targeted. we have been watching the fireworks. just the facts, ma'am, kind of approach. very clinical and analytical questions. is the head of the irs now who is resigned under pressure from the obama administration. by the end of this hearing as we wound down nearly four hours into it. take a listen. >> i think the american people have seen, this is an yoench and this is an outrage to all america. >> mr.

investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >>> as the federal reserve worries that the markets are expecting too much from the fed. >> as you know, fed policy is supposed to focus on two things, maintaining full unemployment and maintaining price stability in our economy. but our jeff cox has uncovered some comments from the fed that show concern that investors are expecting the fed to keep pumping the gas as well. >> and on and on and on. he joins us now along with fed expert greg ip and matthew slaughter of dartmouth school of business. >> jeff, tell us what you found? >> bill, i was parsing through the minutes yesterday and i found one sentence in there that was very interesting, that didn't get a lot of discussion. the fed minutes noted that some members expressed concern that investor expectations of the size of the balance -- size of the asset purchase program appear to have increased somewhat. now, to me, that almost reversed the para

investment management combined with investment servicing. ging the power of investments to people's lives. invested in the world. bny mellon. at od, whatever business you're in, that's the business we're in. with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. >> brenda: predictions. toby, you're in the hot seat. go for it. >> those baggage fees are killing people. bayous air. you'll make some money. >> brenda: gary b., bull or bear? >> i'm bearish on that one. >> brenda: your prediction? >> the cw is the first network to stream to apple tv. up 50% over the next year. >> brenda: john, bull or bear o that? >> i'm a bear. >> brenda: what's your ediction, sir? >> my prediction is wal-mart is getting hurt by the paoll tax. they say i hate that, but family dollar will benefit, up 20% in a year. >> jonas, what do youhink? i'm a bear. >> brenda: your prediction. >> huge solar players reminding us there's energy to ta

investment management combined with investment servicing. investments to people's lives. invested in the world. bny mellon. >> >> as a shareholder are you better or worse off if jamie dimon leaves? ee i'm sure they will be talking about that on street signs as well. >> and many, many more big stories. one of the questions we're also asking you're not going to believe where lax ranks in the world where many of the major air hubs in the united states rank. it's time for a nice vodka cocktail. you have got to stick around. guys, back to you. >> we will. thanks mandy. >> that looks like the chart. that's the dollar yen trade. look at the run up and up and up. that may soon change to japan, land of the singeing currency. on the defensive regarding this huge move. >> you know, interviewed on london. it seems as though they are he would not endorse it beyond what the g-7 has said pubically. >> japan has growth issues for a long period of time. we have encouraged japan to address. growth is an important priority. >> i have to ask, are they within tho

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investment management combined with investment servicing. ing the power of investments to people's lives. invested in the world. bny mellon. >>> good morning and welcome back to "squawk box" here on cnbc. i'm joe kernen along with becky quick and andrew ross sorkin. if you're just waking up this morning, we're looking at destruction in the midwest, a massive tornados killed at least 51 people in oklahoma, including 20 children. the death toll is expected to rise. >>> this is terrible. this is war zone terrible. >> when you see a tornado that big, you find a place, you had no choice. it's either take cover or die. >> it got louder and the next thing you know, you see the latch coming undone. we couldn't reach for it and it ripped over the door and just glass and debris started spraying. >> you could hear it and feel your ears pop out. you could feel the rumble and you could feel the debris hitting a wall. we could hear every bit of it. it was scary. >> the mile-wide twister at its base stayed on the ground for nearly an hour yesterday as it ri

bny mellon combines investment management & investment servicing, giving us unique insights which helpt the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. >>> if you're a regular viewer of this channel and this show, you know one thing. i love this country far more than my co-host does. it pains me every time i've got to fly in or out of this nation because our airlines stink. i was shocked by just how much they actually do stink. take a look at this. sky tracks has a ranking of all the world airports. l.a.x., one of the biggest air sports in one of the biggest cities in one of the biggest countries in the world doesn't even crack the top 100 best airports in all the world. jfk and o'hare don't fair much better. literally the first thing people see when they first arrive in the united states from some far off place like australia, not a great welcome. tom wright, executive director of the regional plan association. we've sat on panels about this. for

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investment management combined with investment servicing. inging the power of investments to people's lives. invested in the world. bny mellon. at od, whatever business you're in, that's the business we're in with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. >> this just in, wal-mart is not out in new york. because republican mayoral candidate joseph lota not only likes wal-mart, but he loves it. that is an anomaly. he also supports wal-mart coming to new york. so you know the history on us. >> we have elected officials who want to be servants for the unions. elected officials in new york should be focused on getting jobs for the people who live in new york. allowing them to bike clothing and food at list prices. >> they would be allowed to set up on jupiter. but that issue always gets in the way. when they hate the idea that this comes from somewhere in asia, each one of them has an apple iphone in their p

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voted "best investment services company." neil: cold weather, cold beer. a blizzard blitz.here with us. jonathan hoenig. it evened out. cold weather is having an effect in a convenient excu. >> this has been happening for a long time. really rich guys who switched to wine. the bottom line is that it is somewhat of an excuse. >> interestingly, this is just like an appetizer for me. [laughter] people are not drinking, they are just switching to premium brews, craft brews, i actually think it is a bullish time for the economy. the consumer is well and alive. you know, i don't think it is a negative thing. >> samuel adams has it all, that kind of takes it to his point. people are buying things, jim beam, people are spending money, there is no doubt about it. that is light beer makers have yet to figure it out. >> beer is a weather related commodity. in warmer weather, people want to drink more beer. we have had a cold spring, it is one reason we see no sales down in. neil: okay, cold weather, hot burritos. all for a dollar. the dollar menu, tacos and burritos for just a dollar.

investment management combined with investment servicing. investments to people's lives. invested in the world. bny mellon. ...amelia... for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything om the best experiences low... to the finest comforts above. we're not simply saluting history... 're making it. neilall right, well the president must know, this irs thing, far more terrorizing. welcome, everyone. i' neil cavo. whenever your views on the president once again pushing th so-called terrorist camp down, try as the mighty can i shut of these scandals, especially the growing irs mess. word right now that lerner has been pu on administrative leave . more than benghazi inthe white house talking points to mor th the justice department's nipigon rerter more average americanrelate to ta targets than almost any other.

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