kelly evans takes a look. >> reporter: this summer markets are making plenty of waves of their own. japan's index plunged nearly 1,000 points. the government bond yields have doubled and the yield here at home has jumped. the dow jones industrial average has gone from the worst week this year to jumping more than 200 points early tuesday to closet at a fresh record high to reverse course today giving up as much as 175 points. confused? you are not the only one. the sharp moves have plenty on wall street scratching their heads. the question is whether it is a more volatile summer ahead. and it stems on a debate on how much the economy is improving. >> question is how sustainable it is. it is if they walk away. there is only one twie find out is if they do walk away. i think they won't. i think that is the problem. if they walk away does the market collapse? who wants to make that bet? >> reporter: in past years markets have sold off each time diminishing support arose. this time around the worst performing sectors are those like utilities most sensitive to higher interest rates. in o

i'm kelly evans. >>> and i'm ross westgate.e your headlines today from around the world. >> the euro spiking after ecb board member nowotny pouring cold water on the notion that the ecb will look at negative interest rates anytime soon. >> the markets overinterpreted this point. of course, there's always some kind of a technical discussion about this. but there is no specific plan in this direction. >> technically, they are also unintended consequences which must be properly assessed. >> u.s. jobs growth likely picked up from april. other signs in the economy are still lagging. >>> and don't get used to it, india's central bank cuts its lending rate for the third time this year, but warns it's running out of room to fall further. >> bnp paribas with its first quarter earnings drop, but the ceo says he's pretty satisfied, given the environment. >> the situation in europe, in that context, we had -- >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> it's payroll friday. >> it

what do you want to know about kelly evans. t squawk street. >> and kelly will answer them this morning. >> i want to know what she thinks about burrell lap. >> i want to know the hemp story. it's all about the -- i'm sure we'll get some of that. >> when we come back, capitol hill has its sights set on google glass. we'll talk about the congressman who wrote a letter to google, expressing concerns about the wearable technology and it did not go away. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. 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. [ driver ] and it got his okay on treatment from miles away. it even pulled stri

for nightly business report, i'm kelly evans from the new york stock exchange. >> so we now have the time to change your long-term investment strategy as the day to talk one way and then the other. we'll chat about that in just a few moments. >> hewlitt-packard knows about good and bad. profits plunged 32% last quarter but raised 17% today. now, c.e.o. meg whiten is right where it should be. >> hp stock reached 52-week highs. >> so a happy day is here again? not so fast. these results are more a testament to ceo meg whitman's skill at managing expectations. pc group sales came in especially week. but, investors are focused on nongap earnings per share. >>> beneath those headline numbers, it was a mixed bag. pc units fell a whopping 21%. in that department, hp made the opposite decision from dell. hp chose to sell fewer low-end pcs in the quarter. the business suffered, down 12%. printing, networking and technology services held their own. >> there are huge tectonic plate shifts the way it's paid for, the way software is written and delivered, the way end users engage with technology.

. >> thank you, i'm kelly evans standing in for maria bartiromo. the stock market is firmly in focus in this final hour of trade. things have turned around, the dow about up 14 points. the s&p down a little bit weaker, up about a tenth, the nasdaq, bill, is down about a tenth. >> i told you, that one's closer. >> did pull it a little further. >> a top investor today saying this rally will only last as long as ben bernanke and the fed keep their foot on the gas pedal, and the moment they stop, he says it's all over. is he right? we're going to look into that question that's obviously on everybody's mind. >> dominating a lot of the discussion. also, a very exclusive interview with dreamworks' ceo, katzenberg. he's making a new show exclusively for netflix. he'll be here to explain his view of the future of television and film. >> this company he's buying has 57,000 youtube channels. >> isn't that remarkable? >> it's a collection of 57,000 -- you can imagine at least one of them is going to get it right. >> crazy. as you study that, we'll talk more ab

i'm kelly evans, in for maria bartiromo, who's back tomorrow.e finishing the day on wall street. the dow looks to shed about 50 points, putting in its worst performance in about two weeks. nasdaq and s&p also finishing lower. the dow heavily weighed by the performance of walmart and cisco, doing better, but not enough to turnaround a day where we're finishing in the red. the dow pulling back from yesterday's record and ending at session lows. >> bob pisani has been watching the action all day long.

kelly evans is here at post nine.ve been keeping a close eye on what rick was talking about and other things as well. >> two things. we had another 700-point sell-off in japan overnight. stronger yen, exporters getting a little bit of a mitt. but we are talking about a market that's more or less in correction mode from its highs. the question then becomes is there room to run and interesting to see what's been happening over in japan since markets closed. futures have really come all the way back. why? the public pension fund, major fund, may be increasing its exposure to domestic equities. keep in mind this is about 11% and that's typical for a lot of these japanese funds. 11% of their portfolios to equities. that's more about the volatility action we've seen since the crash than anything else. you might say are he they not a little late? we moved 70%, 80%. but the question is becoming now are government bonds too volatile with, are they moving to equities -- >> they are acting quite volatile certainly lately. the 10

interesting monday setting up and we'll have an interesting co-host with kelly evans.ghs or new

. >> thank you, i'm kelly evans standing in for maria bartiromo.in focus in this final hour of trade. things have turned around, the dow about up 14 points. the s&p down a little bit weaker, up about a tenth, the nasdaq,

i'm kelly evans. >> and i'm ross westgate.from around the world. >> will he or won't he? mario draghi is expected to cut rates for the first time in months. could he surprise with a move in lenning, instead? >> shell reports as its ceo's retirement comes on the back of forecasts. >>> italy's new prime minister has its work cut out. oecd says the economy will shrink more than expected this year. but growth is at the top of the eu summit's next agenda. >>> and the central bank has issued a warning to congress in the u.s. about u.s. fiscal policy. >>> and at the same time, a drop in china's new orders sees hsbc's final revised readings down from its flash estimate. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. . >> asian and european markets yesterday largely closed on the back of celebrations. but toous markets were not celebrating. we saw them posting gains in the range of almost 11%. this is partly because the adp private sector jobs report came in shy of expectations, pu

. >> and i'm kelly evans. maria bartiromo and bill griffeth, they're both on assignment.day's program, even when the market doesn't rally, it doesn't quite sell off either. bad news for walmart is hitting that stock, but overall the market not necessarily seeing the same kind of weakness. so what does that say if this rally does have legs or not? we'll get into that and a lot more. >> we're also waiting on earnings from jcpenney, the widely followed and controversial oc

kelly evans. >> as kelly said we are watching bernanke and this house oversight committee where loisrt her testimony in a few moments and of course, fed chairman bernanke does head for the hill and what will will he tell the joint economic committee about the economy and stocks. a lot more "squawk on the street" is back in just a couple of minutes. it's as simple as this. at bny mellon, our business is investments. managing them, moving them, making them work. we oversee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. of the d.c. hearings -- all happening beg

. >> i think that's my friend kelly evans. >> caller: see, everybody knows who you are talking about, right? >> she's fabulous. whatever. go ahead. >> caller: i have to agree. i watched you in hong kong. anyway, my stock is at&t. it's slowly bleeding me. >> i think at&t can go to 35. i think that a lot of the bond market equivalent stocks are going down. i didn't like the quarter that much. a yield would be okay. 34 would be like a -- buy, buy, buy. now, joe in michigan. joe. >> caller: hey, jim, i want to wish you a big 2013 bucknell graduate boo-yah. >> boo-yah right back with you, my friend the professor does a great job. what's going on? << my question relates to oracle. >> this is a hard fought name. she believes in it strongly. hewlett packard imports a great number. you know what, it's an inexpensive stock. i got to tell you, if that last quarter duplicates again, nobody will want to own this stock. andy in florida. >> caller: boo-yah, partner. >> what's up, partner. >> caller: i want to know about nee, next era energy. >> you know what, i haven't looked at next era lately enou

. >> and i'm kelly evans. these are your headlines around the world. >> markets end on a high with a possible more money from central banks when investors sell in may and go away. first clues may come from the fed today. >> equity markets across asia and europe are closed. workers taking to the streets and security in european capitals is stepped up in expectation of large antiausterity protests. >> and the official peer mark falls in april. >>> and investors lining up in droves to get a piece of apple's ibonds, making the debt sale one of the biggest in corporate history. >>> all right, welcome to may 1st. pitch and a punch. >> pitch and a punch? >> pitch and a punch. >> what's that? >> the month -- >> is that the saying? >> school, children's thing. >> that was a lame punch, by the way. >> i'm not going to do it for real. and if you've read your paper yesterday, you read a wonderful article -- >> by one ross westgate. >> about the whole sell in may and -- >> what was your take for those of us who missed it?

i'm kelly evans, in for maria bartiromo, who's back tomorrow. scott wapner will join me in just a second. here's how we're finishing the day on wall street. the dow looks to shed about 50 points, putting in its worst performance in about two weeks. nasdaq and s&p also finishing lower. the dow heavily weighed by the performance of walmart and cisco, doing better, but not enough to turnaround a day where we're finishing in the red. the dow pulling back from yesterday's record and ending at session lows. >> bob pisani has been watching the action all day long. bob, we said it was the worst day in some two weeks for the stock market. down 43. >> what does that tell you? >> right? >> i want to put up the dow industrials. i believe it is, here, and, yeah, we should be. let's put up the dow industrials. because all the real action really came in the last, really, the last hour. and we want to put up this comment from john williams. john's the head of the federal reserve bank of san francisco. and a number of fed officials commented today. but he came o

i'll admit, all we have so far is anecdotal evidence of a turn going back and forth with my friend kelly evansin germany, comment from urban outfitters that europe is stabilizing. emerson did use the term bottoming out which got this leg of the rally going. i'm sure we'll hear decent things about europe from salesforce.com. i think that europe is bottoming call is one of the reasons why jpmorgan and goldman sachs have been running, they have been overly linked for years, whether the ceos like it or not. what's the one to buy now? becau because it's done nothing. general electric. i mean, this stock, my charitable trust owns, and well, and knows, it's been a huge disappointment. that's surprising, given that ge is integral to the aerospace sector, energy sector, particularly drilling. terrific housing exposure, which we know is churning. >> one look at whirlpool would indicate that and home depot. we know health care has been horrendous, a bad division. but how long can it stay horrendous? by the way, horrendous is fairly relative. it's not like the division is bleeding not on fire. we know ge

welcome to the "closing bell," i'm kelly evans in for maria bartiromo who is on assignment. bill griffeth is here with me as well. here's how we're finishing on wall street. as bill said, it's been basically a melt-up. the dow not at the highest levels of the is education, but still adding almost 60 points. the nasdaq managing to join its compatriots, the s&p 500, adding about 0.5% as well. so a decent performance. now, in terms of the nasdaq, apple's been a laggard, but we'll be watching for earnings from cisco as well. they're due momentarily. we'll have full coverage as soon as they cross the wire. in the meantime, let's break down all of today's market action. with us today, nathan bacharach, and jim holson from wells capital management. jim, you've been loving this rally. does it continue from here? >> i think so. i've been on record since year end saying the s&p would hit 1700 this year. i think that's probably likely. although i do think that maybe in the second half, the market starts to tread water a little bit. i think confidence has been the main driver here. the

kelly evans is standing by. maybe she gets a little bit of color. >> do you get flowers? what happened there? >> it's my last day in london, so yes, they offered some flowers for that. it was really, really sweet. so thanks. thank you. a reiterated thank you to the whole team. there were no marriage proposals, at least in that situation. >> fill us in. why is it your last day in london? >> you know, my visa expires and when that happens, you can't stay in the country. so i'm off to hong kong. i'll do a little bit of work there and say hi to bernie lowe. so you can catch us on air together next week. then kron, maybe i'll come around stateside after that. we'll see. >> okay. nebulous, but -- >> and i might carry on with the globe markets report. >> go ahead. you'll know when we know. >> it can track my movements around the globe. there we go. how about that? you mentioned the ecb earlier. and, in fact, we did see the euro jump on the back of that interview with nowotny. we are seeing a generally positive tone to stocks across the board. the ftse supported by shares of glen

kelly evans and simon, and futures still wobbly here after the durable goods did crush expectations of

. >> meantime, kelly evans is here at most 9 taking a look at what she's watching. a lot of data to get through today? >> can we talk about pce? >> yes. >> critical, critical report. it always seems to come out a friday when people aren't ready to digest it. several important things happening here and there are headlines about how consumer spending are weaker, but we're taking a look here at what's happening on inflation because the pce stands for personal consumption expenditures and consumer spending recently and this is an inflation gauge measuring the prices of how those measures are changing. we're looking at the measure up 1.1% year on year for the month. so near a record low. i'm sorry, that was the core. the headline up 0.7%. bottom line is this. at a time when we've had a lot of people from goldman today reiterating that the u.s. treasury sell-off is for real from bill gross reporting the lows. you get a report like this and you have to wonder if it wasn't complicated enough already for the fed to think about what to do about the volatility that we've seen

i'm carl quintanilla withel kelly evans and david faber. jim cramer is off today.m. in the meantime the bulls snapped four straight weeks of gains and up 132 on clearer signals of policy support both in japan and in europe.

kelly evans and simon, and futures still wobbly here after the durable goods did crush expectations of april. japan, they were up and down and then up and closed up 128. as for europe, some shall another ecb rate cut might be pushed back. our road map begins with the old becoming new again. p & g has underperformed its peers in the last year. is bill ackman behind the shake-up? st. louis fed president bullard says there is one more wild card he'd like to see. calling all shoppers, abercrombie & fitch, gap, aeropostale and sears, we'll break down the picture for us. a shake shack, a blue smoke. it's a new terminal from delta air lines. we will take you to jfk and talk to the ceo, richard anderson along with richard branson. >> ag lafley returning as chairman and ceo. the change has come as some investors have pushed for fast improvements from the household products maker. they unveiled the $10 billion restructuring program last february. the stock was up 54% and underperformed the s&p and many of the company's consumer product competitors during lafley's ten-year ceo p & g shares fell 3

let's get over to kelly evans and she joins us from post 9. >> hello, good morning, by the way.ect the two things we were just discussing. on the one hand, what's going on in the ten-year and on the other hand what's going on in the housing market. you would expect given the backup in rates that we've seen this which has pushed mortgage rates to their highest level in a year. mortgage rates in their highest level a year and what's happening is there is no refi boom. the refi demand is down and it was at its lowest levels since december. the overall index for mortgage application fell for the third consecutive week and by the way, the share purchase application is picking up and it's not as if this is saying the housing market will fall out of bed or something like that, but what is interesting is it tells us about psychology, right? especially with the jumbo rate jumping 4%, people aren't scrambling to lock this in yet. >> they're craze. >> do they still not believe this is the end of the move? >> i've refinanced three times. if you have not locked in you're brain dead. you've g

. >> we have kelly evans here and i think the vodafone-european portion. >> i was going talk about theit's going to be an upside. >> oh, come on. look at how weak some of these numbers are. service revenue down 13% in italy. these numbers are so bad it tells you why verizon is so valuable to them. these are so bad for southern europe. >> they're so bad that it's looking up to me. this is when you have to make your move. >> dunn so low it's looking up. >> what happened if at this point you said, fine, the numbers don't -- we don't have another 12% decline on the quarter and we still don't know the margins are under pressure and we know it's an incredibly competitive pricing environment. >> john malone took it in cable. >> yeah, but a great time to borrow enormous sums of money and leverage up a bit and cable and broadband is different than the wireless wars that take pla place. we've seen this happens with carlos lemon and kpn. the assets have looked attractive and they have to mean doubling down on these. and frankly, averaging down, exactly, and ultimately they just keep looking at th

i'm carl quintanilla withel kelly evans and david faber. jim cramer is off today. numbers just released and we'll get you those results later as we talk more about them. in the meantime the bulls snapped four straight weeks of gains and up 132 on clearer signals of policy support both in japan and in europe. rally overnight in asia and shanghai, hong kong and europe een markets are following suit and a lot of green arrows across the board over there as well. our road map begins with the markets. the market set to rally this morning and the dow shooting for its 20th tuesday gain in a row. will the trend continue this. >> after the driller re-affirms its forecast. find out if you should be a buyer of the little blue box. >> valiant and astrazeneca making acquisition and faber will run through those details. >> we have more trouble for a cruise industry. a royal caribbean cruise ship catching fire at sea as it sails through the bahamas. is the cruise industry ever going get it together? >> concerns the fed might taper the bond-buying program sooner rather than later.

. >>> kelly evans is here at post 9 joining us with what she's watching as we look at the chart of aepu want to know where utilities are down 12%, it is in japan overnight. tepco i think was down 14%. just want to revisit this theme we were talking about on monday where we were looking at differential between ten years in japan, ten years in the u.s. put up the charts. and whether there would be a convergence play here. we've already seen inflation expectations pick up in japan. the market is testing the bank of japan here overnight. you saw the yield jump above 1%. there was a muted response from coroda in the presser yesterday. the point is a lot of this is about the japan story. to the extent that it is relevant to the u.s., maybe in the longer term sense of when we start to look at what happens down the road when we look at our own yields rerating here. nevertheless, above 1%. bank of japan has to respond and we saw this so often in the nikkei. we saw the way a lot of those higher yielding sectors took it on the chin. if you want to know what a lot of guys are doing to play some of

evan comes up here. much prettier friends than i. but he did invite me to host that year's walk for autism speaks. at sa jose's kelly park. this year, right after the show, to kick off the fund-raiser and community day. and we go from walk to rock. the rock option for st. jude's. this is dawn. this is little julian. dawn visit the the show last week to talk about the concert/action today raising funds for st. jude's in julian's memory of course. you can give to get cool autographed stuff. he signed a guitar, there he is, his guitar is for auction. also, there you go, such from duran duran, the list goes on. very cool stuff. very cool cause. and one more for good karma. head over to the concert area and join the folks for arthritis foundation. something that affects men, women and children for the past three decades. their research helped her quality of life and maybe you can help as well. maybe i can help you out for your morning commute. monday through friday, i'll be right here on "today in the bay." >> a live look right now at the shark tank this morning. a all calm. in a few hours, thousands of fans are expected to cr