a lot of people felt, and you're a humble guy, visa would have destroyed you, mastercard, wells fargothat's what i have heard. how have you been able to forge partnerships, those companies realized that you don't have the reach that you have with millennial's, with young people? >> i think if you take one step back, we as a management team here at paypal felt that our overriding mantra is to be a customer champion. and to be a customer champion is the only way to build an enduring and great company over the long-term. so what we looked at our business model and said we want to give customers complete optionality on how they want to pay and where they want to pay. whether it be in-app, online, in-store, whether it be with their credit card or their bank account. give them full optionality on that. it opened the door to partnerships around the world, visa, mastercard, discover, financial institutions like citi. vodaphone, technology companies, google, all of them have started to become allies in this move to digitization, to take the best of their assets, our pay platform and our scale,

mastercard, no, mastercard is the partner.eeing is is that he keeps broadening his effort and has a lot more pals and friends in the payment processing business, so ipg that what you could run into is huge amount of free cash flow, which we know. $5 a million buy back. a guy that has tremendous momentum in a business he was supposed to be wiped out in. apple pay was the last big challenge, so i just say look, let's be careful on the short side. 2020 solution, he may outgrow everybody in the interim because i think he is the millennial credit card. i think it's a bit of a stretch to bet against the guy and think you'll be covered by ebay. >> yeah, so i think you make a lot of really good points there and i agree that dan, excellent qeo and that the nonebay half of the business is one that's growing phenomly. seeing things like brain tree or venmo. >> he's not charging for venmo yet. >> exactly. but it comprises a pretty substantial portion of total payment volume is something we can look at and see while ebay is about 17% of th

at big round of names reports before the bell, including conoco phillips, mastercard, merck and pfizerafter the bell the mother of all earnings reports, apple. on the economic front. the fed kicks off its two-day policy meeting. the big automakers will release april auto sales. >>> indian outsourcing firm infosys is making a big bet on america. the company announcing it will create 10,000 jobs here in the united states of the next two years. those jobs will focus on the cloud, artificial intelligence and big data. four new facility also open as well. with the next one by summer, august of 2017. i'll speak with the indiana governor and the infosys ceo today at 8:00 a.m. eastern on a cnbc exclusive. it will be interesting to see this broader trend, international companies feeling the pressure from president trump and showing they are willing to invest in america's job story. >>> stocks to watch today, barry dillers will buy angie's list and create a publicly traded company called angie home services. up 41%. advanced micro devices matching estimates in the latest quarter but shares dropp

and i'm long the stock and i have to tell you it might be the best business model on earth visa/mastercardit risk. the bank is assuming that, just the interchange fee. this is a quasi duopoly. they can do whatever they want. the company came public just before the crisis. if you bought it then and held it through up until now you're up 2,600% in total return. it's pretty phenomenal story and keeps getting better. >> take a quick break. we'll do final trades and look ahead to other big earnings coming up. what powers the digital world. communication. that's why a cutting edge university counts on centurylink to keep their global campus connected. and why a pro football team chose us to deliver fiber-enabled broadband to more than 65,000 fans. and why a leading car brand counts on us to keep their dealer network streamlined and nimble. businesses count on communication, and communication counts on centurylink. >>> welcome back to "the halftime report." i'm jackie deangelis. copper falling 1% today and coming off a one-month high on some weaker than expected economic data out of china. brian,

it's not visa, it's not mastercard. i'll reveal the name, just ahead.nd let's pull out all the stops before i hop on the red eye back home edition of the "lightning round." so stay with cramer. >> announcer: tomorrow, kick off the trading day with "squawk on the street," live from post 9 at the nyse. >> i could use a -- >> oh, yeah, arcannic. i'll give you one on that. one of your favorites. >> i'm the only person who's not been invited to the board. i want that board invite. what is that?! >> announcer: it all starts at 9:00 a.m. ian. business was stagnant. we didn't have the daily insights we needed. so nothing was moving. [ horn honks ] then the experts at cdw worked with us to orchestrate an intel powered infrastructure optimized for advanced data analytics. [ horns honking ] now we have the answers we need to make informed decisions. moving more product then ever before. i forgot my keys. expedited insights by intel. it orchestration... [ horn honks ] by cdw. ♪ at crowne plaza we know business travel isn't just business. there's this. 'a bit of thi

this is an ad with mastercard demonstrate payments. >> he has a drink. now what?s he just going to dangle there. >> hang under the bridge, gorgeous spot to have a drink. >> it's pretty awesome. understanding physics and math and how a pendulum works and acceleration and gravity and math and all put together means you can create these stunts. behind the scenes video. shows how much went into this beautiful bridge. show some attempts they went into. the guy at the table swings up. >> thinking that would be kind of dangerous you're crashing into somebody. >> fortunately put preparation into it and it was worth it. that video was awesome. >> chinaes a pretty crowded company." that many people in an area, things are bound to happen. you've got two ladies here. they have a bit of a beef over that mannequin. >> that's my man-nequin. >> they are shop keepers in the market. they each have a stall. each is next to another. the other one put the mannequin out. the other is like that's my space, get it out of here. >> it explodes into a full on catfight. >> knocks her right b

it comes to be set and mastercard, they have been rust rated not being able to do business and china. it is a really significant move, but there is already a lot of domestic competition that exists in china. , one of just this week the electronic payment systems has said it is going to be making moves into the u.s. to allow the chinese who are traveling in the u.s. and canada to be able to use that payment system. they are going to be entering a system into which there is already quite a lot of competition. jim: thank you very much. it was a battle of our time. 20 years ago garry kasparov sat across from an ibm computer matching him move for move. game, the machine known as a deep blue claimed victory, giving an incredible boost to the world of artificial intelligence. how did deep blue do it? we have been speaking to those behind the scenes on that historic day. a warning, there is some flash photography. >> the world was paying a lot of attention. and we weren't quite used to that. >> chess events never get covered like that. it was probably the biggest news coverage for our chess m

. - mastercard, visa! cha-ching! - oh, you got it, chief. oh, crud.e problem. - not now, carol. let me finish impressing everyone. - the network just called, and they want us to do a special broadcast about the storm. - yeah, they do. 'cause we got the best news team in the biiiiiz! [all whooping] - no, like in 20 minutes. [groans, murmurs] - wait, wha-- how? we're drunk! - you know what, how drunk can a person really be? - good point, carol! everyone, follow me! ♪ - oh! - ooh... - ♪ turn down the woof i needed something more to help control my type 2 diabetes. my a1c wasn't were it needed to be. so i liked when my doctor told me that i may reach my blood sugar and a1c goals by activating what's within me with once-weekly trulicity. trulicity is not insulin. it helps activate my body to do what it's suppose to do, release its own insulin. i take it once a week, and it works 24/7. it comes in an easy-to-use pen and i may even lose a little weight. trulicity is a once-weekly injectable prescription medicine to improve blood sugar in adults with

benefit will be beef and natural gas exporters, plus big credit card companies such as visa and mastercardasjoined tens of thousands of pilgrims from all over the world for a candle—lit vigil and prayers at the fatima shrine complex in portugal. the pope is due to declare two new saints on saturday. the shrine remembers three child shepherds who are said to have had repeated visions of the virgin mary in 1917. italy's highest court has upheld the sixteen—year jail sentence imposed on the captain of the shipwrecked cruise liner, the costa concordia. thirty—two people died when the vessel hit the rocks off the italian island of giglio in january 2012. captain, francesco schettino was also convicted of abandoning ship before passengers and crew were clear. greg dawson reports. more than five years since his ship capsized, francesco schettino's fight forfreedom is over and he's spending his first night inside this prison in rome. it follows a definitive ruling here at italy's highest court that his 16 year sentence was sound. his convictions include multiple counts of manslaughter, causing a m

. >> mastercard shares hit a record after posting profits that be estimates.spending drove the game -- the gains. mastercard highlighted south korea, japan and australia as company -- countries that are helping its bottom line. too many emerging markets have not yet embraced digital payment. china bank is trying to raise as much as 4.5 billion dollars in shares in hong kong. they are set to buy up to $2.9 billion worth. the remainder will be purchased by the everbright group. as we mentioned, donald trump's take for you china ambassador says he is open to sanctions on china over north korea. ramy inocencio has more on this. >> another chapter here. the diplomatic side clearly pushing into the economic side. china has most economic leverage with north korea, being the biggest trading partner. terry branstad is going to try to use a very long-term relationship that he has had with xi jinping. they have known each other since visited xi jinping branstad when he was a first-term governor of iowa. nominated mr. branstad to be the envoy, the ministry of foreign affa

bonga and the number from mastercard. m.a., i call it ma is blowing away.sia really good numbers, 8.9% growth and a new theme i'm developing would have been insane as recently as six months ago. latin america, 18% growth. the stabilization in latin america is the untold story of this quarter, europe was last quarter. i've got to tell you, mastercard could easily be up two, three points if bonga tells a good story throughout the conference call. >> yes. worldwide gross volume holds steady. some analysts calling it a high quality beat. we'll watch that the at the open and get the opening bell in -- >> we'll revisit visa but visa wasn't that bad. american express maybe go through 80. this company which is a service oriented non-bank is what people get excited about when they think the banks are stalled or when the banks are going to get broken up but then again we need a follow-up tweet there saying that the banks won't be broken up. >> right. who knows? jim, we'll take a break and back in a couple of minutes. when this bell rings... ...it starts a chain react

benefit will be beef and natural gas exporters, plus big credit card companies such as visa and mastercardcourt has upheld the i6 italy's highest court has upheld the 16 year sentence imposed on the captain of the costa concordia. 32 people died when the vessel hit the rocks, in january, people died when the vessel hit the rocks, injanuary, 2012. the captain was convicted of abandoning ship for passengers and crew were cleared. more than five years since his ship capsized, francesco schettino's fight forfreedom is over and he's spending his first night inside this prison in rome. it follows a definitive ruling here at italy's highest court that his 16 year sentence was sound. his convictions include multiple counts of manslaughter, causing a maritime accident, and abandoning ship before his passengers had been evacuated. translation: this ruling caused an extraordinary, terrifying affair. 72 hearings in the first trial, then the appeal trial, finally the supreme court. we are glad the supreme court have put an end to this because our clients needed the sentence. they needed truth and justi

benefit will be beef and natural—gas exporters, plus big credit—card companies such as visa and mastercardier league title tonight with a 1—0 win at west bromwich albion. it means they have their hands on the trophy with two games to spare in what's been manager antonio conte's first season in charge. our sports editor, dan roan, reports. glory was within their grasp. chelsea strolled to the title almost complete. west brom have also enjoyed their season, and victory at the hawthorns would have to be earned. the visitors enjoyed the better chances but failed to break down a stubborn defence in a cagey first half. there was added urgency after the restart. victor moses denied by ben foster. chelsea's prostration beginning to show. in the final ten minutes, and with the game seemingly heading for a draw, the pressure finally told. batshuayi with the crucial touch. the substitute has barely played this season, now he scored the goal to sealed the title. this is how much it meant to manager antonio conte. chelsea were champions once again. it has rarely been in doubt, but this, a moment to sav

visa and mastercard very strong here.ending a long time in purgatory u america's investors made a come back. rallying to a new multiyear high of 80 back in march. even as the company reported last month, i fell was much better than any investor feared. the stock jumped on the news, but then pulled back again, thanks to the negative pin action from the rest of the credit card space. so where do i come out here? i would stay away from capital one stocks until their credit stabilizes. if deutsch bank is right, if this is a rich versus poor issue, where the rich are doing just fine and the poor are defaulting in greater numbers, but if the problem is more broad based, then the whole group will be in trouble. american express included. so i'm saying you have to stay on the sidelines until we have more information, even though i want to recommend american express. that data from everyone in the space indicates that credit is indeed worsening in this country. but the more i look at these numbers, the more this feels like a retur

expedia trading higher as mastercard brings master pay to expedia. yahoo!illion worth of stock before the verizon deal closes and when resorts. wynn investors seem to like that. the big winner is amazon. you would think that is a technology stock, but it is a consumer discretionary stocks. up more than 36, about 9% this year. really helping to explain some of the records, the current and it is said that nothing is specific behind the games today, just the anti-brick-and-mortar retail sentiment. finally, let's go cross asset class and see if these records are supported. 3030 -- 3830.v when it goes lower, bonds are rallying and in blue, we have the nasdaq. they both traded as you would expect. more recently, we have bonds in a bit of a rallying mode, still above the november election bubble. diverging from the nasdaq at record highs. it will be interesting to see how that divergence with investors looking for the risk of the nasdaq and the safety of the haven bonds. bloomberg television is taking a look at the tax reform this week. we are analyzing potential

latin american spending drove gains with total first-quarter revenue reaching $2.7 billion for mastercardlighting south korea, japan, and south korea helping the bottom line. many emerging markets had not yet embraced digital payments. looking to raise as much as $4.5 billion in a private share sale in hong kong, bank.everbright it will use the funds to bolster its core tier one capital. the boom in etf's rolls on, $1 billion float into etf's to buy emerging-market stocks and bonds come eight straight weeks of gains. , this activeinable versus passive investing strategy? we will get to the founder and ceo of vandham securities. everything isile good and the flows follow performance, but once performance is shaken, how steep is the drawdown, particularly when you consider the market has the sense of fragility to it? >> that's right. it is a few things. it is not just passive etf flows. it is retail in general. that is what is making them so crowded at this point. in terms of catalysts, they could be anything. the drawdown that you could see could be in the catalyst at this point. the u.s.

. >> visa and mastercard could use you, no one -- you're providing the information, which is a fabulouss model. i love that much more. but i do think at a certain point, i would love to have shares in foursquare. >> we're trying to grow a profitable big business. and we grew 74%. >> a lot of companies in public are not profitable. you want to be profitable. >> we did 74% revenue growth last year, and we're growing about that fast this year, so we have said we're on track to be $100 million revenue business in the near future and from there the sky's the limit. >> i love this story. i can see who hours people are really going, versus what they're telling me. that's jeff glick, ceo of foursquare. thank you for being on the disrupters list. stick with cramer. ♪ ♪ welcome to holiday inn! ♪ ♪ thank you! ♪ ♪ wait, i have something for you! ♪ ♪ making every stay a special stay. holiday inn, smiles ahead. whether for big meetings or little getaways, member always save more at holidayinn.com >>> it is time for "the lightning round." [ buzzer ] >> and then "the lightning round" is over. are you r

nicole: china would also issue guidelines to let american firms such as visa and mastercard offer electronicthere. the u.s. would facilitate the entrance of chinese banks into the american banking market. the agreement comes about a month after president trump met with chinese president xi jinping in florida, the u.s. trade deficit with china totaled $310 billion last year. it represents about 60% of the country's total deficit. lauren: president trump saying he wants to get to the bottom of russia scandal. in an interview with nbc after firing fbi director james comey. the president gave more details about that decision. we go to blake berman with the story. blake: over dinner at the white house and two phone calls as well. those are the three times president trump says he was told by the former fbi director james comey that he was not under investigation by the fbi. the president detailed part of those conversations to nbc lester holt. >> did you call him? >> in one case i called him and one case he called me. i said if it's possible, would you let me know am i under investigation, he said

i've been recommending mastercard and visa. this company is a winner and you got to stay with it. even at a 52-week high. even a guy who follows our show more than i do. i should retire and it should just be a group effort. i get it, sometimes it's hard to stay in a good stock as they go higher. as we saw in amazon and alphabet, amd. the tech market has been sunshisurging with names both young and old participating in the move. but one stock has been left out. maybe it's time to reconsider qualcomm. then the stocks the biggest hedge fund bought and sold during the first quarter, oh, my, we have to do earning they say? or maybe we shouldn't. i'll check the foundation of the group with one of the leading players in the space, i suggest you stick with cramer. finding time to get things done isn't easy. but we've got the digital tools to help. now with xfinity's my account, you can figure things out easily, so you won't even have to call us. change your wifi password to something you can actually remember, instantly. add that premium channel, and watch the show everyone's talking abou

mastercard said they completed their purchase of -- which could give the company a larger foothold inpayment. -- non-card virtual payment. they appear to have learned a lesson. they spoke to francine lacqua. >> we may the mistake of investing in the company and not being on the board. we could not see what was going on. francine: does that mean you're going to stay with from pharmaceutical companies? >> probably. mark: pershing square is working on two large investments. herbalife is still the favorite short bet. startrline has agreed to bankruptcy proceedings. it was unable to carry out a recapitalization plan after workers voted against job cuts. the last time they published public figures was in 2015 when they lost $270 million. mark: that is the latest bloomberg business flash. vonnie: we are awaiting president trump expected to speak shortly in the rose garden honoring air force football winners. this is bloomberg. ♪ ♪ trump: president donald just arriving at a ceremony honoring air force football at the rose garden. you can see everybody gathering. our next guest knows a lot abo

and big names to watch, conocophillips, mastercard, apple, facebook and cc krchlcvs.big week. >> and tesla will be interesting, too. >>> we have a can't miss interview coming up in less than 2 1/2 hours. ben bernanke sitting down exclusively with the "squawk box" team. we'll get his facts on everything from president trump to janet yellen and taxing and a little bit about the economy. be sure to join us for 8:00 a.m. eastern time. >>> some stocks to watch today. keep an eye on casino stocks out of china. 16.3% in april. top expectations and more high rollers last month, the stocks really not moving this morning stateside. >>> barrons so bullish on caterpillar. if the company benefits from commodity prices as well as the prompt of a big infrastructure price. >>> barons saying going bullish on nextera energy use. nextera is regulated utilities to move power across north america. >>> more stocks to watch, u.p.s. maintenance workers could be heading for a strike. employees sent a letter to the u.p.s. ceo over the weekend calling for the company to keep its current health

good news for master express and mastercard, that's only paving the foundation for the future.oss saying they are going to begin work on your plan for how to continue to move forward. vonnie: what are we looking for over the weekend and into next week? kevin: president trump is going to the nato summit in saudi arabia the end of next week and fbi director james comey meeting behind closed doors with the senate intelligence committee. vonnie: kevin cirilli, you are back with me a while :00. you'll have to tune in. our thanks for the moment to bloomberg's chief washington correspondent. mark: coming up on the european lose, this is bloomberg. ♪ mark:'s 11:00 in new york, 11:00 p.m. in hong kong, 30 minutes left in the trading day in europe. from london, on mark barton. vonnie: from new york, i'm vonnie quinn and this is the european close on "bloomberg markets." ♪ mark: in markets, european stocks struggling for direction today, nordstrom becomes the latest retailer to miss earnings estimates. the bloomberg commodity indexes rising for a third day, .ecovering from a 16 month low

deere, lockheed martin, north rop, lot of the credit cards, mastercard and visas.200 haven't seen that in a while. at the same time, oil is down despite the opec announcements of disappointment and energy stocks can't really get going. we have new lows on a number of energy stocks here. that's the big disappointment. retail earnings, here is something odd. good retail earnings. haven't seen that in a while. williams sonoma did well. best buy had a nice beat. the big disappoint chlt, signet jewelers disappointment. back to you, guys. >> bob, thank you very much. the market may be hitting new highs but it's not a broad based rally. according to s&ps howard, apple, amazon, facebook and google those five stocks accounted for 30% of the year to date gains in the s&p. the top 15 companies in the s&p now account for 50% of the gains. so what happens if some of these big tech stocks start to roll over? joining us is mark travis with intrepid capital funds. and brian, with hennessy funds. what would happen if these big stocks start to roll over? >> well, i think we've seen

the dow 30 heat map here, we do have visa getting a boost from mastercard which reported higher earningsa rise in credit card spending. >>> the original house of leather on fire today, coach beating quarterly estimates. the handbag maker is back. it's announced, though, that it has closed more than 140 locations during the quarter and expects to close more in the next one. it's cutting back on discounting, too, on its products in the u.s. coach has been on a tear, it's up more than 10% this year. today it's the biggest gaper in the s&p 500 -- gainer in the s&p 500, up 11 points. they've also gotten some much better style. >>> up next, have american auto sales peaked in the numbers are in. our floor show experts on how they're driving or dragging down the markets. more "countdown" is on the way. stay tuned. ♪ ♪ look closely. hidden in every swing, every chip, and every putt, is data that can make the difference between winning and losing. the microsoft cloud helps the pga tour turn countless points of data into insights that trsform theibusiness and will enhance the game for players and f

(gasps) oh, yay, a new mastercard! uh-oh. what? i was going to get my mail. okay.you hoping to get it telepathically? i think you mean telekinetically. and no. i just wasn't sure of the proper protocol now that you and leonard are no longer having coitus. god, can we please just say "no longer seeing each other"? well, we could if it were true. but as you live in the same building, you see each other all the time. the variable which has changed is the coitus. okay, here's the protocol: you and i are still friends, and you stop saying "coitus." good, good. i'm glad we're still friends. really? oh, yes. it was a lot of work to accommodate you in my life. i'd hate for that effort to have been in vain. right. just to be clear, do i have to stop saying "coitus" with everyone or just you? everyone. harsh terms. but all right-- i'll just substitute "intercourse." great. or "fornication." yeah. but that has judgmental overtones,

paypal, mastercard, visa, first data also just smashing the s&p's return year to date.money transfers are especially hot. the venmo and square cash apps of the world, even apple may be looking to get into this game with a similar offering. now, after earnings yesterday, we did have the chance to sit down with square cfo, sarah fryer, and get her take. >> i think there's tons of room. if you look at p to p, still so much happens in just cash and checks. that's the bigger market opportunity to go after. >> the thing, though, is p to p money transfer serves are typically money losers. we also asked friar some trading activity. this year jack dorsey has sold more than $30 million in square stock and buying $10 million in twitter stock. here's what she said. >> jack receives very little other compensation from the company so i think it's totally appropriate that he would begin to diversify. so i don't view it as selling one to buy another, i view it as him diversifying. he still has massive ownership of square, so very much aligned to growing our company and that will akrccr

if you're going to be in the credit card space, why not vi kai and mastercard. they're still at 1.5 times, that's not where i want to buy back shares, maybe it's okay on 8.5 times forward earnings. >> mckessen jurisprudence ons an earnings beat. >> opposite of deere. not john deere. this one is screaming higher. whether it's health care, i.t., pharma, these guys medical devices killing it. stocks up better than $12 today. surging, which i owned it. michigan missed this one. >> it was a rough week for financial shares along with the others. higher today. you own this stock. >> citigroup is a bell weather there, but all that said, had a hard time getting past 62. it should be 10 to 20% higher just to get to parody with its buck value. >> blackstone? >> silicon valerie, some aig and black stone. >> okay. none of the big banks. >> we thought the best way we could take advantage of rates gone higher and pockets of growth, particularly on the west coast was being west coast centered. silicon valley bank and first republic high net worth. also pay a high tax rate and i

>> mastercard. happy new all-time high. >> okay. joey? >> ftnt. >> good stuff, guys.tarts now. >>> and new records for your money to start the week top your "power" menu. nothing seems to get this market down. not north korea, not d.c. drama, not even that global cyber attack. we're going to find out why. plus, speaking of that cyber chaos, a hack attack in more than 150 countries, over 200,000 infected computers, could this just be the start of a crippling worldwide problem and who might see their sales boom because of it? and 640 horsepower, 0 to 60 in less than three second and a price tag to match. lamborghini may be ready to unveil its new super car. we'll take you for a spin. fasten your seat belts. "power lunch"

i mean, visa and mastercard have been trying to get a little help there.ey was on visa saying this could happen. i know that things are going to get stronger. but it was rather amazing to kind of hear the cordiality in the country that was regarded as being a rogue to being a country that we made a deal with. i mean, i was kind of -- a lot of surprises from the administration. >> yeah. that deal is going to have access for the banks and the exports of the beef and chicken to china. >> this is real news. >> yes. >> that cap -- for real. this is anthony noto's greatest deal. anthony noto, the coo of twitter. i say, doesn't potus help you? he won't go there. i like he doesn't go there because one day if he -- if donald trump decides not to tweet you have an nfl deal. i think twitter's doing quite well versus snap. >> versus. >> really? >> yes. snap how are they going to get the billion that everyone thought. >> billion in revenues. >> everyone thought -- >> they'll get there, maybe not as soon. >> i thought this year they would get there. i thought they had i

visa benefiting from rival mastercard with a strong quarter. 3m was gainer. apple hit intraday record. faded off coming after a yesterday session. waiting for big earnings report. look for average iphone sales this is seasonally soft quarter before they unveil new product in the fall. merck beating on profit and sales, boosting outlook. look at april auto sales. this is tough. journal headline, hot streak rapidly cooling for u.s. auto sales, especially for detroit companies. gm and ford sales. gm down 5.%. ford off more than 7%. toyota only automaker benefited. problem, weak demand for trucks and suvs. that led to big record levels since the bailout back in 2009. back to you guys. david: ford under 11 bucks a share. unbelievable. melissa. melissa: big names driving nasdaq into record territory. todd horowitz from bubba trading.com, james freeman from the "wall street journal." james, are these records in technology making you nervous? you do you he think there is more room here? are they justified? what is your take? >> you can't say stocks are cheap right no

just short-term -- >> everybody keeps saying the competition is in the payment space and me miss mastercardow they're missing square. i think that jack dorsey should ring the riegister. he should say, i.. i made it go from 11 to 22. sarah is in charge and he has been full-time for twitter. it has to happen. i do like square. we use tab. it is a very good product. erik in new jersey. >> caller: hey, jim. how are you? first time caller, long time listener. my stock is viacom industries. want to know if it is a good time to get in? >> i don't know. it was not a regular myth. i would hold off on that one, it was a nasty miss. they have to do better before i would commit. that is the end of the lightning round. >>> the lightning round is sponsored by td ameritrade. you know that thinkorswim seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to go! the market's hot! sync your platform on any device with thinkorswim. only at td ameritrade ♪ >>> has this rally run out of steam? the market took off like a rocket after the appointment of a spe

money is your money with unfettered access that enables them in the form of credit cards face up or mastercard this industry has to respect the consumer or the patient and and tell the does unless they are respected it will never be fully controlled by the consumer. >> we are clinical to clinical or health to hospital if judy was here she could say there will be a world i dunno if we will get there any time soon of those complexities and any improvements and they don't change that care equation we don't have a relationship those are with the relationships such as have those standards those are the a pretty exciting start to say how has the patience been treated?. >> the auto industry is another good parallel with the car came the ability only to drive on certain roads. if there is a car you can drive on any road then you have the tools and the vehicles and the infrastructure and a the highway. >> waiting for that one health care payments system we will open for questions. >> that is a great question one thing they have done really well in his legislating to make sure that happens we take a lot

there is so much going on, it's mastercard for thhard for them p track of it. even season with like h.r. mcmaster. she is viewed as trying to spin it for this administration, that's problematic. he is one of the few remaining credible voices that this administration has, at least with national security veterans in this town. and if his credibilities starts to wane, there are not see many credible voices left in the white house at this moment. and it's been less than four months for this administration so far. >> when you put it like that, it's sobering. many people said what happens, to your point, when the day comes that they need credibility on something big and something that is disputed or debatable. that day has come. it's may 15th. it's a national security crisis involving russia and i should note 10:16 p.m. on rachel, no lid at the white house. an unusually late opening. 10:16, we have the lid. we have a lot more reporting to do. thank you for joining me. >>> coming up, republicans want the white house to get its act together. but tonight's breaking stor

they continue to look, few want to play retail, mastercard, vis a sa and the resurgence of american express. >> is the consumer okay though, interest rates are relatively low. could it be we threw out the whole basket of retail stocks because we we heard a couple bad data points? >> it could, i don't think the national night ma iris over yet but we have a lot coming up this week. we have macy's and nordstrom's and j.c. penney and a couple others. i think that for some of them, we're still going to see some head winds there. there is some unique head winds to macy's, because, for example, tourism is down in new york. that's still happening. there are mid shifting and are they going to monetize real estate, maybe not as much as they hoped, however, bart is pretty low. i know it's up a little bit. down 60%, up a little. still makes it down a lot. so i think if you don't come into a disaster, it will probably be fine. i don't own macy's, i do own coor's, that report is a little later in the month. there is strong head winds there. the stock i think reflects a lot of head winds and the kate coac

there is so much going on, it's mastercard hard for them to keep track of it. even season with like h.r. mcmaster. she is viewed as trying to spin it for this administration, that is disputed or debatable. that day has come. it's may 15th. it's a national security crisis involving russia and i should note 10:16 p.m. on rachel, no lid at the white house. an unusually late opening. 10:16, we have the lid. we have a lot more reporting to do. thank you for joining me. >>> coming up, republicans want the white house to get its act together. but tonight's breaking story means the white house has to handle another emergency caused directly by the president. i'll explain why that keeps happening. >>> and later, tonight's russian story also means donald trump's james comey problem actually might get worse. we'll explain. the show's about to start! how do i look? like a bald penguin. [ laughing ] show me the billboard music awards. show me top artist. show me the top hot 100 artist. they give awards for being hot and 100 years old? we'll take 2! [ laughing ] xfinity x1 g

visa,nt, the set, amex, -- amex, mastercard. china does not give away things for free.t does not give away concessions easily. many of these things may well have been in the works for a while. wto had ruled against china in terms of financial payments, so they would have have to have made those moves in terms of allowing greater access. the beef imports were banned in 2003 as a result of a mad cow disease scare, so there was time about whether that was going to come on board anyway. that is a huge market for the beef industry. energy makes is interesting because if china can get their hands on this gas, that means they can diversify their energy mix. it looks like america's consumers are maybe getting a bite of some cooked poultry from china, maybe a bite of chicken nuggets, which may not be tear taste depending on where you stand on things. a debate here on the european market bloomberg's tom mackenzie joining us appropriately from in front of what was the bird's nest stadium in beijing. matt, very good time to be talking trade with the u.s. administration given all of

you can pay with a bank card, mastercard or cash. because you have this middle layer of payment processing correct, that transactional layer, what you are using as an endpoint is secular to that. at least for our business, getting to that middle layer toht, like hill said, access high-quality technology and payer systems that are more uniform or at least workable in their application or approaches. getting that middle layer right leads us to where we can compete on the things we want to the pete and night if we can rub -- we want to compete and not rub elbows. >> the fundamental thing that the industry got right really early is respecting that your money is your money. you have unfettered access to it and building technology that enables that in the form of .echnology, atm machines this industry have to respect that the data belongs to the consumer or the patient. until it does, it does not matter how much technology unless those things are respected, it will never be fully controlled by the consumer. >> in our case, we are clinical

conoco phillips, mastercard, merck and pfizer. after the bell closes today, we have apple. we'll talk to an analyst about what to expect from apple. the fed kicking off a two-day policy meeting. the central bank expected to hold rates steady, but investors looking to find out when and if they will hike next. the fed statement will be out at about 2:00 p.m. tomorrow. >>> in washington, house panel will be holding a hearing today to examine consumer airline issues. in co this comes in the wake of a viral video showing a united airline passenger being dragged off the flight. oscar munoz from united will be in the hot seat along with others. united settled that case, but it took quite awhile in doing that. as a result it stirred things up. we'll see how this plays out. see if congress does anything. on monday, warren buffett will be joining us for three hours, live from the annual berkshire hathaway meeting in omaha. berkshire is the largest owner in many of these airlines. also also be joined by charlie munger and bill gates for the 8:00 hour. that is monday at:00 a.m. eastern

promising full and prompt market access to payments companies including visa and its competitors, mastercardnd competitor union pay, alibaba's financial and tencent, they expand abroad. wall street's biggest banks are scrambling for a larger share of the etf market amid predictions of a surge in business. global etf assets are expected to rise from $4 trillion to 25 trillion in the next decade. i want to bring in eric from bloomberg intelligence. he is joining us now via skype from philadelphia. want to talk specifically about us and etf segments, but first off, wall street banks are just flooding into etf's right now. why is that? >> that is where all the money is going. if you look at where flows are going, about 60% of flows good to etf and the other 40% goes to vanguard's index funds, and you are not going to really challenge that 40%, so the 60% peopleo etf's is where are interested. that is where it looks at the future is, so they want to have a piece of that pie in wall street banks. from the got revenue etf market by being market makers, trading. they want to be issuers. they have be

down 2% on a big miss, mastercard is up two and mosaic down 7% after missing the top and bottom line. brian? >> all right, melissa, thank you very much. and i am brian sullivan. we are coming to you live from day two of the milken global conference in beverly hills, california, speaking with the world's top thinkers on the market and economy. politics, which is encapsulating everything today, eric cantor being former house majority leader, chris aailman and dr. o. >> welcome, everybody. as michelle mentioned twitter popping this hour thanks to comments from billionaire investor mark cuban. it's up about 4% right now, and we will get to those comments in a moment. first the air is coming out of the auto bubble, it seems. gm, ford, fiat, chrysler all taking big hits today. let's go inside the numbers now with phil lebeau. are these numbers as soft as they seem, phil? >> reporter: yeah, they're soft, tyler. we're not look iing like a huge tumble but they are slowing down. take a look at the numbers for april. you mentioned fiat, chrysler, gm and ford reporting weaker than expected sales.

the mastercard quarter was magnificent. square is real. it's a real company. >> yeah.ing quarter, jim as you say, important one for the company. he's still running both companies. i don't know, can that just continue forever? you know, at some point does he say, well, look what i've got going here. i mean, some point maybe the market cap of square may eclipse twitter. it's not that far away now. >> i own this -- i own this restaurant. tomorrow is cinco de mayo. we use all the products in square. they have a caviar product that you have to let people -- look, you have to deliver food. grubhub had a great call. one of the things that square -- square is smack in the middle of everybody who trying to deal with this notion of hey, the customer doesn't want to stay at the place. they want to take it out. in the meantime, the customer -- as a small business person, you want that low rate that they give you with the swipe of a card. this is also for people who are in business, the smaller businesses, that tim cook talked about, square is the de facto register. they have it go

users will get a digital prepaid mastercard within 15 days of signing up, and customers will be ablekeep their existing phone number and their phone after ensuring their device with tirks mobile's premium device protection plus for $15 a month. so you sell your soul to them. >> right. >> but they get you out of whatever contracture 'in with verizon at that time. >> listen, there's a really tough environment right now if you're verizon and at&t. t-mobile has been successful. obviously there might be a deal with sprint, you know, in the works here, depending on how you read the tea leaves day-to-day. it is kicking the dog while it is down. >> we are such creatures of habit, especially us older customers, that i -- i think it would take a lot to draw us away. what am i getting for changing? >> you would think. but if you were younger and more price sensitive and, look, t-mobile is a cool company. you can't deny that. the coverage issue, which was a biggie in the past, you know, they get past that and, you know, they're getting the net subscribers right now. >> as long as i can keep my b

>> mastercard. happy new all-time high. >> okay. joey? >> ftnt. >> good stuff, guys. thanks for watching. "power" starts now. >>> and new records for your money to start the week top your "power" menu. nothing seems to get this market down. not north korea, not d.c. drama, not even that global cyber attack. we're going to find out why. plus, speaking of that cyber chaos, a hack attack in more than 150 countries, over 200,000 infected computers, could this just be the start of a crippling worldwide problem and who might see their sales boom because of it? and 640 horsepower, 0 to 60 in less than three second and a price tag to match. lamborghini may be ready to unveil its new super car. we'll take you for a spin. fasten your seat belts. "power lunch" starts right now. >>> and welcome to "power lunch." i'm melissa lee. stocks keep surging. new records for the s&p and nasdaq and the usual suspects keep hitting fresh new highs. corning, electronic arts, nvi nvidia, the list goes on and on. on pace for its best day since march 3rd, snap has traded over 44 million shares to

cards know, i think that the credit card companies are all under pressure with the exception of mastercardy debt. that's a service company. visa had a really terrific quarter. american express which has loan issues did not report bad loan losses. looks like the resurgence of those who are service oriented. i don't want to go against that downgrade. but i have to tell you, synchroty was smashed last week. people are critical of ge. i know david and i have talked about the ge quarter, but maybe getting rid of sin cronety wasn't a bad idea. >> you know the -- it's not been particularly well timed. i think that's one of the criticisms that's been levelled at the company over these last -- quite a few years. jim, you know, on friday, you and i did not really have an opportunity to discuss honeywell. i referenced it -- the stock is down this morning. i didn't get your sense as to what your expectations are with the review that it's being undertaken by the company after the third point led by dan loeb sort of engaged them. and wants them to at least consider this idea of spinning off the aerospac

i'm looking at earnings and i looked at mastercard and others, and europe is doing surprisingly well.theless, i think at home, you have to be concerned because when you see the dow is up 50 points and two stocks that made that move, you may be in a stock that's not working out? >> yeah, and latin america growing like wildfire. and the big names masking the we backness, look at industrials and financials. those have faded and it's interesting to see what the leadership switch is going to be or what is going to be the next sector to pick up the baton because for me, if you're seeing tho sectors winning to fade and there's not a reemergence of something else, that's an indication the market is topping out. there's an indication with auto sales. being low, they're pickier and choosier, what they're spending money on. >> they're spending money on things they can do now. and yolo, you only live once. where is my favorite bear? you're too quiet. did anybody give jeff sica some coffee? >> i love optimism, usually out on friday. it's more optimistic. it's thursday. yes, we have low interest ra

mastercard is that with earnings.ading at a record high in the market. $2.73e is coming in billion. they see growth in the low double-digit. it was a good quarter. bigthan: coming up, a question. how do you unwind a balance sheet? ben bernanke and tom keene sit down with the former fred chair. tomorrow.ve in you are watching bloomberg. ♪ alix: steve mnuchin has a message wall street and the u.s. is serious about ultralong bonds. it could make sense. >> we are studying ultralong bonds. that is something we are considering a treasury. we have a working group looking at it. we think it's something that could absolutely makes sense for us and treasury. alix: joining us is michael hansen. still with us is try. do we take him seriously? very early.his is they are kind of throwing things against the wall. with low interest rates, there is an attraction to it and will there be enough demand to support it and that's an open question. we'll heard mixed use our own clients. it is early days on that one. troy: it depends what the

china agreed to give prompt access to company such as mastercard and american express.r bloomberg business flash. david: there was big news in the auto world as ford ceo mark fields was replaced by jim hatchett. i spoke with executive chairman bill ford about why they made this change now. greatand a time of transition -- that is where we are now. we have not seen a time in our industry where technology, competitors, everything is converging to drive real change. it is helpful in a timeout that to have a leader experience in driving transformational change -- change, and we have that in jim hackett. steve rattner served as the lead advisor for the bailout of the auto industries. majorl ford right -- a transformation we see across the entire auto industry? steve: he is 100% right. you have three factors coming drive a to transformation -- right-sharing, driverless cars, and electrification. ride-sharing might be the biggest threat, combined with self-driving cars, because the average car is only used for percent of the time. the other 96% of the time it is in your garage