of the indy 500 takuma sato was basking in sunday's victory and even got to ring the bell nasdaq marketsitever to win the famous race, he came close to victory at indianapolis in 2012 before crashing on the final lap with this victory coming in his eighth season of indy car racing. after the financial markets were sorted it was time to move to a more picturesque setting atop the empire state building holding the traditional milk bottle and wearing the race winner's wreath. that's all we've got time for on this edition of sport today. for now, goodbye. good morning. we start with a quick look back at what happened yesterday. this weather front made its way southwards and eastwards across the uk. it brought in some heavy rain to the north and west of the uk. as it went southwards, the rain fizzled out and allowed fresh airto rain fizzled out and allowed fresh air to follow in its wake. fresh egg continues to creep southwards overnight. not quite getting to the southernmost counties, but we see cloud which is low round the coast. along with clear skies, major towns and cities clear, rural spot

and welcome back to "squawk box" here on cnbc live from the nasdaq marketsite in times square.front and center today, foot locker the latest retailer to miss estimates. the athletic footwear and apparel seller fell two cents shy. revenue also below street forecasts. same store sales rose just 0.5%. that compares with the expected increase of 1.5%. nearly 8% drop for foot locker this morning. also campbells asoup which gave us our trivia question, the food company earned 59 cents per share for the quarter, five cents below estimates. revenue was below estimates and campbell has cut the sales outlook for the year. it did raise the lower end of its earnings forecast. shares are down 5%. down about 16% over the past year. now, two power producers may be joining forces. vistra energy has approached dynegy. the history includes a strapped merger deal with enron and bankruptcy filing in 2012. you knew the name sounded familiar. >> i know dynegy. do you remember grassy? i think dynegy was like a $3 stock at the time. they were like both, you know, single digit stocks almost penny stock

we're live at the nasdaq marketsite in times square.ports that crossed the tape this morning. magazine publisher incorporated reporting a loss of 18 cents per share. that's three cents wider than had been expected. revenue falling short as forecast print ad sales fell and the company slashed its quarterly dividend to four cents per share from 19 cents. "time" is there. now it's down -- 6.5% this morning. also, wolverine worldwide shares are jumping in premarket trading. the maker of stride rite, hush puppies and other shoe brands reported quarterly profit of 37 cents per share. that was six cents above estimates. revenue also beat consensus. another premarket winner auction house sotheby's did lose 21 cents per share from its latest quarter. that loss is 17 cents smaller than wall street had anticipated. revenue beating forecasts on an increase of commissions and fees. >> can i jump in? couple new tweets from the president just came out. donald trump tweeting this, watching senator richard blumenthal speak of comey as a joke, ritchie, m

we are live from the nasdaq marketsite in times square.tories that are front and center this morning, mortgage applications fell by 3.4% last week. according to new figures from the mortgage bankers association. both new purchase applications and refinancing activity fell. the average 30-year mortgage rate was unchanged during the week remaining at 4.17%. >>> we are watching shares of luxury goodsmaker michael kors this morning. the company beat profits but revenue was short of the forecast and comp store sales fell more than expected. kors gave a weaker than expected forecast and that stock is down by 8% continuing this trend of retailers that miss and get punished in a big way. >>> four big pension funds are opposing the election of six directors at drug miker mylan. they're upset over what they consider to be excessive executive pay. the new york city and new york state pension funds are involved in the effort, along with calsters which is the cal teachers pension fund and pggm which is a dutch pension fund. >>> rebuilding american infr

we're live at the nasdaq marketsite in times square.with the adp report in the books there's one more economic report ahead this morning. institute for supply management is going to be out with its april nonmanufacturing index at 10:00 a.m. the monthly measure of the u.s. services economy is expected to register a slight improvement. other closely watched report is coming out at 10:30 a.m. eastern time the energy department's release of its weekly report on oil and gasoline inventories. crude has been under some pressure in recent weeks due to oversupply concerns. and wells fargo has received a notice called needs to improve grade in the latest ee value uses under the community investment act. of the 18 evaluations made public in today's release by regulators, wells is the only one that was rated needs to improve and it's just another one of these examples of an institution that has been the gold star for the banking community, especially when it comes to community banking, even. to not get the grade, a little surprise. maybe we'll talk

we're live at the nasdaq marketsite in times square. sot some stories front and center.gan stanley the latest wall street firm to announce it is lowering commissions. it is capping commissions for brokers at 2.5% of a trade's value for stocks, etfs and annuities. greece has now reached a deal with its lenders on a variety of reforms that will unlock new cash to repay upcoming debt obligations. that news helping to push greek government debt yields to their lowest since october 2014. also president trump reportedly preparing to replace a top banking regulator. "the wall street journal" reporting this morning that comptroller of the cushionsy thomas curry could soon be out and that the change could happen this week. the comptroller of the currency is the chief regulator of federally chartered banks. we talked about the impact of legislation and we talk -- then the impact of regulation and things you can do on your own that have huge impact without meeting -- >> even just a light touch on enforcement is deregulation in effect. >> exactly. >> president trump announcing yeste

we're live at the nasdaq marketsite in times square.n along with becky quick and steve liesman who is hanging out with us this morning. joe is out. take a quick look at the futures this morning. things are looking in the green as we might -- we have now averted a government shutdown. we'll talk about that in a moment. the dow looking like it would open up about 32.5. the nasdaq looking up 13 points higher and the s&p 5 points. the 10-year note as we go around, 2.298. and we are watching oil this morning. crude losing ground in eight of the last eleven sessions amid concerns over whether or not opec will extend output cuts at its may meeting. here's what -- taking a look at wti crude right now 49.13. also some headlines for you at this hour as i just mentioned the government shutdown has been averted at least for now. nbc news reporting that congressional negotiators have agreed on a deal to keep the government funded through the end of september. so we'll have this conversation all over again towards -- once we all get back from the sum

we're live at the nasdaq marketsite in times square.s that are front and center at this hour, corning has been the first recipient of an award from apple's new newly announced advanced manufacturing fund. corning will be awarded $200 million from the fund which is designed to encourage innovation among manufacturers. glassmaker and apple have collaborated for the past ten years. it makes gorilla glass which is used in apple's iphones. when the announcement was first made i think there was some cynicism about it given the size of the billion dollar fund relative to the amount of money that apple has in total. but, i like this idea. i think this is a good thing. and it could have a ripple effect. and if others get on board and do it and it impacts small towns around america i think there's something to it. i just -- >> and number one -- >> i just want to be involved -- >> i want to tell you, i was thinking about it. i know we're professionally skeptical always but i thought that -- >> well, so the small towns and flyover states, you give

we're live at the nasdaq marketsite in times square.t are front and center, economists looking for 188,000 nonfarm jobs, new nonfarm jobs when the april employment report is released in just about an hour from now. that follows a lower than expected 98,000 new jobs in the march report. also the unemployment rate seen coming in at 4.6%. that would be compared to march's 4.5%. plenty of fed speak on the agenda today. the hooverers institution monetary policy conference in california will be featuring appearances by janet yellen, vice chair stanley fischer. san francisco fed president john williams and chicago fed president charles evans. our own steve liesman is at that conference and we'll be hearing from him in the next hour. also, walmart tries to un-up rival amazon according to its reuters report. now applied for a patent for a system designed to compete with amazon's dash buttons. to let customers reorder products. walmart's system would build the reordering technology into the products themselves rather than requiring a separate but

live from the nasdaq marketsite in times square.es front and center, mortgage applications fell 4.1% last week according to new figures from the mortgage bankers association. those new purchase applications and refinancing activity fell. the average 30-year mortgage rate stands at 4.23%. that's unchanged from a week earlier. >>> americans will be hitting the road in significant numbers this coming memorial day weekend. aaa projecting at 34.6 million people will make automobile trips of 50 miles or more. that would be up 2.4% from last year and the most since 2005. anheuser-busch inbev is in hot water with massachusetts regulators. they accuse the beer brewer of giving out free bar equipment to business on the condition they use it only for budweiser products. the company says it believes its actions were legal, and it is working with regulators to resolve this issue. >>> our guest host jack welch, executive chairman of the jack welch management institute. jack i wanted to ask you a bit about the meetings you've been to, the strategy

we're live at the nasdaq marketsite in times square.ndrew ross sorkin along with melissa lee this morning, and of course joe kernen. the futures right now this morning take a quick look. dow looks like it would open up higher about 23 points higher, s&p 500 up almost two points higher and the nasdaq 3.5 points higher. among the stories front and center at this hour, small business optimism remaining near historically high levels. the monthly optimism index from the national federation of business did tick down 0.2 of a point in april. the reading remains near the highest level since the 1980s. the april decline stems from curves over health care reform. >>> three fed officials will have public appearances today as investors try to look ahead to the june meeting. minneapolis fed president neel kashkari, boston fed president and dallas fed president will be speeding at separate events. cash carry and kaplan are voting members of the fomc for 2017. whether we raise rates in june is the big question mark. >>> widely anticipated earnings rep

we're live at the nasdaq marketsite in times square. two economic reports out this morning to begin trading this week in about an hour from now we're going to get to the latest empire state index. the new york fed's measure of new york state manufacturing. then at 10:00 eastern time, national association of home builders will be out with its monthly sentiment index. also, two multibillion dollar takeover deals to tell you about just announced in the past couple minutes. scientific instruments maker thermofisher buying patheon. about $35 per share. also debt trading agency moody's buying a dutch company it's going to be paying about $3.3 billion for a business information company called bureau van dyke. moody's says that the deal will add to its perngs as soon as next year. >>> also this morning lyft is teaming up with alphabet's self-driving car unit waymo to develop a pilot program. the companies aren't releasing many details. waymo has some of the most advanced self-driving technology and has just started testing cars in phoenix, ariz

we're live at the nasdaq marketsite in times square.kin along with becky quick and joe kernen. take a look at the futures at this hour. this music is very lively. dow looks like it would open down about 12 points off. nasdaq off marginally about half a point. s&p 500 off about a point and a half. here's what's making head lines, two economic reports out ahead this morning. the government will be out with durable goods orders for april at 8:30 eastern time. consensus forecast calling for a 1.8% decline. we're also going to get first revision, rather, of the first quarter gdp. that's expected to come in at 0.8% annual rate. that's slightly faster than the initial reading. also u.p.s. has been fined nearly $247 million after being accused of illegally shipping large volumes of untaxed cigarettes in new york state and new york city. u.p.s. says it is disappointed in the decision and plans to appeal. calls the penalty, quote, excessive, given that the shipments in question generated only about $1 million in total revenue. of course they say

we are live from the nasdaq marketsite in times square.ck along with joe kernen and steve liesman. and the futures at this hour have been indicated higher, despite this news overnight from this terrorist attack. you can see things are stable here in the united states. they are in europe, as well. right now the dow futures are indicated higher once again. up by about 47 points. s&p futures up by 4. the nasdaq up by 10. if you take a look at what's been happening in the european markets you will see that in the uk, stocks are actually slightly higher. ftse is indicated up by better than 0.1%. the cac is indicated up by 0.7%. the dax indicated up by more than half a percent. >>> a developing story out of the united kingdom. 22 people killed in a suicide bomb attack in manchester after an ariana grande concert last night. willem marx joins us on the phone with more from manchester. willem, the choice of the -- you know, it's hard to make it any more kidious. you're talking between and teenagers. so just the choice is telling, isn't it, in term

we're live at the nasdaq marketsite in times square.rew ross sorkin along with becky quick and joe kernen. take a quick look at the futures after a three-day weekend. you're looking right now, a little bit of red. dow looks like it would open off about 19 points. nasdaq off about a point and a half and the nasdaq -- i'm sorry, s&p 500 down about 3 points. here's what's making head lines. the shortened trading week beginning with a handful of economic reports before the opening bell. here's what's on tap. we're going to get april figures on personal income and consumer spending at 8:30 eastern time. 30 minutes later the march case shiller report on home prices will be out. also the u.s. may ban laptop computers on all flights. this is a big change in and out of the country. homeland security secretary john kelly says that terrorists are obsessed with the idea of bringing down a passenger jet and that the u.s. needs to raise the bar on airline security. we talked about it earlier but it would have a huge impact on airlines, both u.s. and

live from the nasdaq marketsite in times square.move this morning. general electric shares are higher in premarket trading. ge is among the companies signing new deals in saudi arabia over the weekend. with $15 billion in agreements involving power, health care, and energy. >>> amgen shares are under pressure. the biotech company is not expecting its experimental osteoporosis drug to win fda approval this year. that follows a trial which showed a higher rate of heart related issues. big drop, disappointing for that company. >>> networking equipment maker siena has been upgraded to buy from hold. the firm says ciena will benefit from improving market trends as well as new products and recent contract wins. >> ford firing ceo mark fields after three years at the helm. the company will hold a news conference at 9:45 a.m. eastern time. joining us now to discuss this move paul grasseo. paul, great to have you with us. what did mark miss in terms of -- when you take a look at the stock price of ford versus gm clearly ford is lagging a num

welcome back to "squawk box" here on cnbc live from the nasdaq marketsite in times square.ter, jeffrey ubin is stepping aside as chief investment officer at valueact capital management. morfit has served on microsoft and valeant pharmaceuticals. we're about an hour away from april data on housing starts. economists are looking for an increase of 3.7% partially reversing march's 6.8% decline. and chicago tribune owner wants to buy the newspaper that was its biggest rival, the "chicago sun-times." it's signed a nonbinding agreement to buy "sun-times" parent company but still negotiating financial terms. both companies say the sun-times newsroom would continue to be run independently. >> trunk. i might be that -- >> a pantheon of terrible corporate names. >> trunk? when is that one -- >> i thought trunk was like a little green animated monster. >> i haven't seen these films. >> not really a film. but it's not really a corporate name either. >> no, exactly. i didn't know how to pronounce it. sounds like i got it right. >> my god, it's one syllable. >> but i still managed to pro

we're live at the nasdaq marketsite in times square.enter we're watching shares of tiffany this morning. the luxury goods retailer did beat on the bottom line by four cents posting quarterly profit of 74 cents a share. revenue missed forecasts and comp-store sales posted an unexpected decline. we're seeing shares down almost 5% premarket. >>> jim immelt is in the spotlight. he'll be the keynote speaker at the group conference in florida which will feature appearances by honeywell, united technologies, and others. ge shares have been pressured lately. >> lately? >> longer than lately. >> 16 years? >> specifically lately following a deutsche bank downgrade which questioned the quality of the company's earnings. >>> and a takeover deal in the insurance industry fidelity and guaranty which sells life insurance and annuities is being bought by cf corp for $1.84 billion. that's a premium to yesterday's close. cf is a blank check company whose business plan centers solely around raising money and acquiring companies. >>> new york governor andr

and welcome back to "squawk box" here on cnbc live from the nasdaq marketsite in times square.we're watching front and center this may sound like a repeat but it is not. straight path communications is out with a news release this morning saying that a 184 dollar per share all-stock bid from an unnamed company is superior to the deal it previously agreed to with at&t. there was an identical release out friday, in which the bid from that unnamed company was worth $135.96 a share. the at&t deal was worth $95.63 a share. no response from at&t yet. reports this morning say verizon is that unnamed company. and coach is buying kate spade for 2kst.4 billion in cash. the deal is worth 18 cents a share and according to coach it will save it in costs in three years after the deal is complete. >>> and two fed speakers will be making public appearances this morning. cleveland fed president loretta moster and st. louis fed president james bullard will speak before the markets open. the fed left rates unchanged at its meeting last week. but many are expecting a rate hike during the june meet

. >> fast money starts right now live from the nasdaq marketsite overlooking times square. pete najarian, tim seymour and guy adami. is the apocalypse already here? a top analyst took down media stocks on a cutting that shocked the street and he'll be here on why it's only going to get worse. jim cramer will be here to talk about the most important thing apple's ceo tim cook just told him. when we started off with the two big names that just reported earnings and facebook crushing expectations, but the stock is down about 2% and tesla posting a massive loss and that stork is do sto down almost a percent. phil lebeau is gearing up for the tesla call which starts in 30 minutes and we'll check in with him a little bit later and we have david garrity manning the red phone for the conference call. we'll hear his instant reaction later. first, we cake it off with julia boorstin who just spoke with sheryl sandberg moments ago. >> i just got off the phone with sheryl sandberg and we spoke after the earnings crossed and she wanted to talk about what drove the costs to better than ex

. >> fast money starts right now live from the nasdaq marketsite overlooking times square.y adami. is the apocalypse already here? a top analyst took down media stocks on a cutting that shocked the street and he'll be here on why it's only going to get worse. jim cramer will be here to talk about the most important thing apple's ceo tim cook just told him. when we started off with the two big names that just reported earnings and facebook crushing expectations, but the stock is down a