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with us for the hour today, joe terranova, josh brown. let's kick it off with crude and those two events driving prices this hour, the out of control wildfires in canada and the surprise saudi shuffle, what both mean for where things could go from here. let's bring with our deidra bossa on the ground in edmonton with the latest. >> the fire didn't grow as much as expected over the weekend. that's the good news, but the bad news is it's still out of control, and it is still threatening canadian oil sands operations. so far, no damage has been reported to the actual facilities themselves, excuse me, very little damage has been reported to the actual facilities themselves. but, of course, you can't produce oil, you can't work the equipment without employees, and many of them and their families have been evacuated. so, as of now, about 1 million barrels of oil per day and capacity have been taken offline. that is about a third of canada's total daily production. so that is a lot. now, the question is when can production resume. when can these

jim lebenthal, and josh brown, and john, chief strategist of the cme group, and cnbc senior economics reporter steve liesman, and the gang is all here. kick it off with the markets. strong week for the markets, and strong broad-based tech, and financials down the list, and it is big against a big backdrop of the oil hitting $50 this week, and the fed chair speaking in an hour's time, and josh brown, i go to you first, new highs in the offing? we are not that far away? >> we are not that far away, and what is really, really great about the positioning that we are seeing here is that the advance of the climb line, and it is absolutely cooperating and breaking out in and of itself, and you have a lot of the small and the mid-cap issues getting the job done, and it is a marked contrast to last time we challenged the levels, and way different from what felt like the end off a bull market a year ago, so it is a long time coming if we punch through, and one very clear positive is that it is a lot of stocks hanging out here, and not just, you know, the nifty nine or fang or something like tha

the breakdown with josh brown, the charge of telling josh to buy in the market you overlooked. he'll explain what it is next. they found out who's been hacking into our network. who? guess. i don't know, some kids in a basement? you watch too many movies. who? a small business in china. a business? they work nine to five. they take lunch hours. like a job? like a job. we tracked them. how did we do that? we have some new guys defending our network. new guys? well, they're not that new. they've been defending things for a long time. [ digital typewriting ] it's not just security. it's defense. bae systems. >>> there he is, the segment is called "the breakdown with josh brown." this is about the charts? >> all about the charts. well, i want to point out a stealth bull market that really, we never talk about, it's surprising almost, and no one talks about it. it's just been incredible, defense stocks. so let me just show you defense in aerospace etf. there are two of them. this is the bigger one. ita. gives you a sense, this is a sector that's basically at all-time record highs is

. >> one final note, temple starter josh brown suffered an achilles injured, he's going to be out for a while. we'll be right back. pat toomey started his career as an investment banker. then, a wall street wheeler-dealer overseeing stock trades in new york, london and tokyo. next, toomey moved to hong kong to work with wealthy chinese investors. in the senate, it's no surprise toomey's been siding with wall street. voting to allow banks to continue making the risky investments that wrecked our economy. afscme people is responsible for the content of this ad. >>> for the first time ever, philly pops presents memorial salute, a concert lon norring those who served saturday at 7:00. veterans, active military, and active police officers and firefighters can see the show for free as well as their families and public school students, teachers, and administrators can get free tickets, go to nbc10.com or the app for more details, comcast and nbc 10 are proud sponsors. should be so great. >> i'll be there. >> you will, excellent, good weather then. >> we hope. >> hot. it's not stormy. it's cl

josh brown, stephen weiss, and jon and pete najarian, and also with us on the set is jpmorgan head ofequity strategy, and so it is a great debate, where is the stock market to head with the fed priming interest rates, and the possible brexit looming, and the cloud at home, and so techs and fpgss are leading the way. josh brown, time to be more bullish about the market despite the headwinds that are perceived to be out there? >> well, i are will say this, if you are into the confirmation bias, you are getting it right now, because the tone seems to have shifted almost overnight, and we are challenging the old high going back to may and june of 2015. i don't know if this is the time that we punch through, but we have been here before several time, and this is where we continue to fail. if we were to break through at this the point, and do it with the breadth that we have right now, which is very good, you will have all of the confirmation bias that you want. >> and we have dow, and s, and p and russell and nasdaq above the 200 days, and the technicals lining up, but yet, you are skeptic

we have real questions on their cash flow. >> our own josh brown disagrees.es own the stock, joins us now on the phone. josh? >> hey, what's going on? >> not too much. you were there yesterday. you heard what mr. chenos had to say. >> one clair fisk. i don't necessarily disagree. he's dodge a lot of research and the accounting questions are known. i've been in the business too long to pound my fist on a china stock. now short, about eight days to covering, and i think there is a ton of skepticism around it already. it's really been languishing in the 50s and 70s for a long time now. >> i guess the question is -- he makes the point you can't tell how profitable the fulfillment side of their business actually is, the delivery. is there a point where you think those types of questions, one that jim chenos and other are raising becomes more scrutinized. >> from a fundamental standpoint, when you go through the numbers that were reported, there's plenty of rock tore skeptical about gross merchandise value, which obviously is a huge number, $115 billion goods chang

and with us stephen weiss, jim lebenthal, and josh brown and courtney reagan who is going to start usff with the carnage. >> few thought that department stores results would be good, but yikes, they have shed $5 billion in market cap in total, and in one week's performance, and macy's, and nordstroms and kohl's all down double digits, and coming in short on the topline, and only macy's beating on the bottom line. and jcpenny's, and daillard's ae down on the bottom line. and macy's, and nordstrom put up the worst comparable sales in nine years, and jcpenney is also down, and jcpenney missed the comp sales estimate base wide margin, but it is holding the guidance due to the recent comp trends in the last two weeks in ape are ril. i spoke with ceo marvin ellison on the phone, and he is interested in bringing in less weather-sensitive categories, and rolling out appliance, and growing sephora beauty in more stores. he does not believe that the quarter is a reflection of those moving to the amazon, because he said that the customers feel good about their financial situation, but it is more

. >> and david, josh brown.his is a historically pharmaceutical drugs, more defensive sector than not, and i think that the performance from 2012 through 2015 brought a lot of new investors into the group which is great, but then a name like allergan which drops from 330 down to $200 in the space of six month, and given that we could see it with the large cap names, what does it say for this group in the asset class, and are these trades now, and not necessarily investments at least for the more consecutive investor who had been historically looking for the defensive qualities. >> and when you see a stock going from $50 to $300 in a few years, you have to wonder, you know, what is built into that, and likewise, when you see a stock going from $300 to $200 in a year, you will get a lot of value investors who then come back to it as an investment, and not the story. that is what we are seeing in this part of the market right now, and in this part of the sector is a separation between what we are really interesting

. >>> bad news for temple hoops, senior guard josh brown suffering an achilles injury on friday.e is scheduled to undergo surgery on wednesday. brown was first in the minutes played and second in assists, no word on how long he will be out. >>> now in a minute now, nba will tell us if green will be suspended. golden state forward kicked steven adams of okc in the man zone, during last night blow out loss. it happened during a foul, green says it was not intentional, thunder lead two games to one. game four is tomorrow night, in okc. nba is late on this one. we thought we would hear by 5:00 eastern and we are still wait to go figure out if they play. if he doesn't play they are in trouble. that kick though. >> wow. >> yikes. >> all right, don. >> thanks, so much. >> okay. kate joins with us our forecast. >> tough transition. >> yes, talking about some nasty stuff outside right now, as we saw our baseball practice was just canceled. if you have people that are outside that may not know this weather is heading our way for baseball practice, t ballgames, someone asked me on twitter,

senior guard josh brown suffered a serious achilles injury last week.. the school has not said how long he will be out. last season he averaged 8 points and 5 assists per game. his fellow teammate trey low suffered a car accident. there's a huge hole. >> reporter: a new solution could revolutionize the way women work. >> really navigate your own career and the rate and pace you desire. >> reporter: jobs match making for moms tuesday at 11:00. the golden state warriors will have draymond green against oklahoma city. green avoided suspension for this kick downstairs under steven adams. he was fined $25,000 by the nba. the league called his actions unnecessary and excessive. you think? okay. they lead the series 2-1. >>> game 4 between the cavs and raptors. cleveland looking to take a commanding 3-1 series lead. villanova's larry late in the fourth quarter. a game-high 35 points. the raptors win 105-99 to tie the series at 2-2. game 5 coming up. that's sports. >> you okay? >> yeah. >> okay. more information than i need to know. "jimmy kimmel live" up next

temple's basketball program suffered a serious blow senior guard josh brown sustained an achilles injuryt week. the team says brown will have surgery on wednesday. the school has not said how long he'll be out. brown was expected to have a bigger role this season. hopefully more information in the coming days about how long he might be out of action. >> thank you ducis. >>> cecily tynan with the accuweather forecast. the next seven days and that includes the memorial day weekend when we continue in just a moment. >> ♪ than playing all about the bens with top prizes of a hundred grand? winning, ...on the spot. play all about the bens from the pennsylvania lottery, and you could win.... ...on the spot. keep on scratchin' >> stormy afternoon. what about tonight. >> and tonight everything will kind of fall apart once the sun sets which is good news. storm tracker6 live double scan slowing that we do -- showing that we do have a line of some pretty intense thunderstorms rolling through right now. this is already past through philadelphia. it's heading towards wilmington. it's all moving to th

. >> and the josh brown -- >> many others bu, but he is th one in our hearts. >> yes, thank you, scottnd dallas is moving closer to completing one of the largest bond deals ever, and how they plan to finance emc. the company launched a $20 billion with yields that are likely to attract investors. the dell deal would be second largest ahead of an hizheuser-a. they are planning to do it by october? >> yes, and it is a foregone conclusion, and what a masterful move by michael dell. think of the way that icon was pressuring it and it did not look like it would happen, and michael dell took this thing privat private, and towering above a lot of the other names in the large enterprise computing, and private player who does not have to show his hand, and they have gain gained in pcs and amazing. >> truly amazing for dl, but if you are vm, you are still w wondering what are you doing. >> and now over to rick sap telly with the santelli exchange. >> yes, gang, demand for the yields for something of quest n questionable, and obviously, not the highest credit quality, and you can't keep it in sto

josh brown, stephen weiss, and jon and pete najarian, and also with us on the set is jpmorgan head of and so it is a great debate, where is the stock market to head with the fed priming interest rates, and the possible brexit looming, and the d

with us for the hour today, joe terranova, josh brown.ith crude and those two events driving prices this hour, the out of control wildfires in canada and the surprise saudi shuffle, what both mean for where things could go from here. let's bring with our deidra bossa on the ground in edmonton with the late

jim lebenthal, and josh brown, and john chief strategist of the cme group, and cnbc senior economicsesman, and the gang is all here. kick it

and with us stephen weiss, jim lebenthal, and josh brown and courtney reagan who is going to start uscarnage. >> few thought that department stores results would be good, but yikes, they have shed $5 billion in market cap

joe terranova, and stephen we s weiss, and josh brown and pete najarian.ction of both of the moves, and joe, you made some bug moves, because you do think in fact that the commodity rally is done? >> yes, history is repeating itself, and 2016 is the same as 2015, and

with us for the hour today, joe terranova, josh brown, pete najarian.he markets and the bearish call being heard around wall street despite the green on your screen. bank of america seeing a severe summer slump coming. dropping that note today, the ominous prediction just hours ago. i have the note in front of me, you say put your shorts on, it'

. >> and i have some of the traders here, and stephen weiss is here with josh brown. and steve, you have spent a lot of time thinking about what is happening in china, and how that market is impacting our own markets here, and so is everybody else. >> yeah. i think that the worst thing they can do is to nonevent deback to the weaker devoi of the currency market is 30%, and they are doing it at 4.6%, and all it is going to do is to hasten the outflow or the outflow capital as the investors are worry and the chinese are wor worried about how much lower is this going to go? as you recall, they heightened the bet and raised it, so i think that to jim's point that, you can't have confidence that they know what to do or they are going to do the right thing, and when you look at the accounting as well, and on jim's other side, it is long alibaba and still long on it? >> yes. i'm long j.b. as well, and they don't have the accounting issues of bau ba has, but the markets got a little sanguine with the investors about china is cured and fine and doing the right thing. >> and se

and josh brown is bullish on the name for some time, and this is the case. >> it is a buy, and we saidn the low 70s it is a classic and iconic american company, and when the farm incomes get better and the global demand for agriculture gets better, this stock has massive leverage to that and it is going to go higher from here. >> and now, what, josh? >> same thing. >> really? >> that is like 15 days ago. >> i know, but they cut the guidance for the second time. they don't have visibility, and the second time this year they have done it. >> if your investment process is buying and selling on good and bad news, you will lose, guaranteed. >> what about the credibility? >> this stock does not break lower and put in a pattern of the high or low, and that is where the stock has gone for five years and the news is bad, and yet the sellers don't take it lower. so i started to buy in the the low 70s and 76 right now, and it could get back into the range, and that is where the buyers come in, and it is not a trade. it is something that you are not going to be able to anticipate the turn of the c

point guard josh brown hurt his achilles tendon last week. he'll have surgery on wednesday.m has not said how long this recovery time might be. brown who averaged eight points and five rebounds per game last season was expected to have a bigger role this coming season with the departure ofnton. >> how are your ball handling skills. >> college days are long past me he. >> you can play left bench. >>> something brand new opening at a 119-year-old school in philadelphia. isaac ship heard elementary took the wraps off its renovated library. independence blue cross workers volunteered a month of their time to make this reading sanctuary a reality. they also collected books. >>> george warrants elementary principal jacqueline landed over a big can check to levittown bucks county and yes she's crest in a sumo wrestler's outfit for a good reason though. students raised $1,830 for the autism cares foundation and by meeting their goal she had to dress in that sumo outfit. and the teacher gladly took one for their cause. a students got to splash a plate full of whipped cream into her f

with us is joe terranova, and josh brown, and jon and pete najarian, and let's go to the countdown of janet yellin speaking tomorrow. we have new data showing that the e kconomy is not as weak as feared, and so it is some indication of where investors should be if the fed does raise

josh brown, what are you making of the market reaction today? >> well, it is minimal. so you saw that the bond move and then reverse. you are back to unch on treasuries and ief and iee and the treasuries staying in there at their highs and relatively undisturbed, but the bigger picture, a real problem with the n nasdaq right now technically, because a lot of people are pointing to the broken down technology giants which is a bigger issue for the stocks. you are looking at the payrolls report this morning, and you are looking at the miss in air quotes, because you can't see me, but 40,000 in the context of an economy of 150 million people working, and so it is more of the nonevent, and last month was incredibly strong, and averaging it together, it is a run of the mill month of pretty good jobs growth. >> and trying to gauge what the fed is going to do with the jobs report, and you have now others saying that september is likely and june is off of the table, and watching the dollar closely today, and we feel that it is the most important impact of where the rally is goi

with us for the hour today, joe terranova, josh brown, pete najarian. we kick it off with the markets and the bearish call being heard around wall street despite the green on your screen. bank of america seeing a severe summer slump coming. dropping that note today, the ominous prediction just hours ago. i have the note in front of me, you say put your shorts on, it's summertime. you have the lowest end of year target of the big firms on the street. why? >> i do. yeah. we have been pretty bullish for the last several years now since 2012, we have been pretty positive on the market. this is the first year where we are really seeing signs of things to worry about. here's the framework. i feel like every time i look at updated charts there's a lot of signals that are at levels that have only happened prior to big market selloffs. for example, if you look at the distress ratio, a credit indicator we track, it's at levels we haven't seen without significant downside to stocks coming. when you look at percentage of companies forecasting negative earnings, tha

with us is joe terranova, and josh brown, and jon and pete najarian, and let's go to the countdown of janet yellin speaking tomorrow. we have new data showing that the e kconomy is not as weak as feared, and so it is some indication of where investors should be if the fed does raise rates in june. doc, you are on the island and you are saying that they won't go at all. >> well, no, i said that once this year, and i think it is december, and we will see whether or not they go, judge, because it is closer, and closer to the coin toss as to what janet yellen says tomorrow, and that is going to influence the markets. today a trade in the vix, and the reason i bring it up is that a lot of people were voting that the vix goes down lower and one of the reasons is that if ms. yellin is dovish tomorrow, and they bought a ton of the i think the 13 and the 14 puts with the vix right around the 15 level. >> let me stop you. the risk is that she is more hawkish tomorrow. >> well, i disagree. >> for some. >> well, i disagree, they don't move and tell the market that they are not data-dependent, and

joe terranova, and stephen we s weiss, and josh brown and pete najarian. and now, with the are reaction of both of the moves, and joe, you made some bug moves, because you do think in fact that the commodity rally is done? >> yes, history is repeating itself, and 2016 is the same as 2015, and you had a trade that began in february, and easy money trade as it relates to energy, and the oil bottoming, and the u.s. dollar, and that has ended. i would take the chips that one might have and a materials, energy, lower dow type of trades and move them elsewhere. myself, i bought some puts in the xle, and the xlb in the last couple of days. >> you sold all of the holdings on friday? >> yes, and i told friends that i had in energy names to do the same. and i truly believe it is the dynamic as it relates to the currency, and steve has often talked about what has changed fundamentally as it relates to oil, and not very much. it is a currency story, and the reversal to dday is power nfl t u.s. tlar where it was this morning and where it is right now, and that trade is

they fall to brown 11 to 1067891 the redskins start otas this week, three days where the team is back together after an off of first round pick josh docks on.h in the interim kirk cousins says he and the team have beenee working on basically everything. i'm just trying to become their quarterback in every way.

brown breakfast burrito. hurry in before it's gone. when josh atkins books at laquinta.com.om is ready. so you know what he gives? i'll give you everything i've got and then some. he gives a hundred and ten percent! i'm confident this 10% can boost your market share. feel me lois? i'm feeling you. boom! look at that pie chart. the ready for you alert, only at laquinta.com. ( applause ) >> stephen: everybody's happy! everybody's happy! >> jon: yeah! >> stephen: everybody's has been. hey, everybody welcome back. welcome back to the happy place. my first guest tonight is a talented actress whose films include "pearl harbor," "serendipity," and the "underworld" series. she now stars in a new jane austen film adaptation, "love & friendship." please welcome kate beckinsale! ( applause ) ♪ ♪ ♪ >> stephen: nice to have you here. >> hi. >> stephen: that's a lovely dress. >> thank you so much. >> stephen: it's very spring-like. >> it is quite spring like. i was worried it was a bit westernish saloonish. >> stephen: a little bit ♪ down in the west texas town of el paso ♪ do you like th

brown believes he will be ready for the season. sixers worked out big five players today. villanova's joshart still undecided about entering the draft or staying at nova. temple's jay len bond were there. josh, what would it take for you to leave nova? >> tell me i'm going to be the number one pick, i think that'd be it. obviously everyone wants, you know, a first time guarantee. to get that. so many different variables that can happen in that month. >> you got to think he's coming back to villanova but we will see. i'm john clark. we're right back. >>> well, tomorrow we have rain and it's going to be cool. wednesday, very early showers then clearing thursday and friday look good. back in the 70s. just ignore the weekend and go straight to the following wednesday. we have some rain saturday and sunday. and we're going to be in the 60s. so far the weekend doesn't look great but we have 8 os in the forecast in your ten day. >> all right, sheena. i'm jacqueline london. >> i'm jim rosenfield. for sheena, all of us here, thanks for watching. have a great night. see you tomorrow. pat toomey star

they fall to brown 11 to 1067891 the redskins start otas this week, three days where the team is back together after an off of first round pick joshocks on.h in the interim kirk cousins says he and the team have beenee working on basically everything. i'm just trying to become their quarterback in every way. understanding our assistant veteran, take another step forward, finding what ourou identity is and getting reallyll good at that and maybe expandina upon where we were weak try to grow into my understanding withu then teammates. the list goes on and on and on. every single day you try to attack it.it football is a complicated gameol and there's a lot of facets when you look at offense, defense, special teams, but from an offensive perspective we got to protect football at all costs. if you can do that and make good decisions, we definitely have a great team.gr it will be a big test to see if they can do it again, for kirk cousins. he signed a one year tender with almost $20 million, maybe a long-year extension if he can do it again. a lot of people are hoping are. > what do you think the key is to a successful marriage.a one w

brown. one city's yards are going green. you're watching cbs this morning, saturday. ,, when consultant josh atkins books at laquinta.com. he gets a ready for you alert the second his room is ready. so he knows exactly when he can settle in and think big. and when josh thinks big you know what he gives? i'll give you everything i've got and then some... he gives a hundred and ten percent! i'm confident this 10% can boost your market share. look at that pie chart! boom! you've never seen a number like that! you feel me lois? i'm feeling you. yeah you do! let's do this! watch out he just had a whole thimble full of coffee... woot! woot! the ready for you alert, only at laquinta.com. la... >>> coming up these are serious frown lines. hear why you may have to get to the airport three hours before your flight. >> i don't like that number. later we sit down with prince harry to discuss his invictus game. the olympics for the world's wounded service members. we'll be right back, this is cbs this morning. saturday. ,,,,,,,, >>> i'm not sure that the republican party as we know it is going to survive the election. this will be so

josh taylor takes a look at abby's family tree. one can of bush's beans. homestyle sounds good. country style, not without it's charms. browne. bush's beans. what's your favorite flavor? >>> did you ever wonder how your family tree traces back through history? >> george washington. >> humphrey bogart. >> did you hear about this? >> the road show has been uncovering family secrets back to the 1700s. >> joining us to discuss that is joshua taylor. joshua, meet abby. you met already. >> i know more about you than -- >> i know myself. >> tell her something you don't know. >> you're a distant cousin of clint eastwood. >> did you know that? >> i had no idea. >> abby, your roots go back a long ways in america back to the early 1600s. you have a couple mayflower passengers on your family tree but that brings a lot of other cousins. there are millions of americans -- >> i already have a hundred first cousins. i'm from utah. >> add 30 or 40 more to that list. >> give us the list of who you found out she's related to. >> president george h.w. bush. >> my dad will love that one. >> winston churchill. >> he'll really love that one. >> h