h & s bakes every mcdonald hamburger bun sold in the eastern united states. over the past decade, he spent millions of hi own money to develop harbor east. now a grand jury has indicted him, the city prosecutor says he gave helen holton $6,000 to pay for a political poll. another developer, ronald lipscomb admitted he paid $6,500 for that poll. he'll be sentenced in october. earlier this year councilwoman holton was indicted on charges of bribery and purge rate. judge dismissed the charges in may. >> i am thankful for this day, and that i am that much closer to 2 restoration of my good name and the work i've done in serving this city. >> reporter: but holton has been indicted again, this time on charges of violating campaign finance laws. her attorney released a statement saying in part miss holton is innocent. she is confident this charge will meet the same fate as the earlier one. still stephanie rawlings-blake has announced that councilman william cole will replace holton in acting chair of the taxes, finance and economic development committee. as for john

docket today, listen to this, quarterly results from mcdonald's, at&t, ford, bristol myers, hershey, nor tr northrop grumon, you've got components of the s talk about some of those components right now. analysts looking for the home of ronald mcdonald to rise by 3%. and here is an impressive statistic. over the last 12 quarters, mcdonald's has never missed expectations. at&t is forecast to earn 51 cents a share. that would be a 33% drop in profits from a year ago. revenue is expected to decline to $30.7 billion. with the market caps. the final dow component on the bell this morning is 3m. consensus is calling for the company to earn 94 cents a share on revenue of $5.4 billion. guys, it is a busy, busy morning. >> is it the busiest day of the season? >> so far. >> which is hard to believe. >> you thought it's been a busy week so far. >> we had, what, five dow components from tuesday, something like that? >> yep. >> coming out at 8:30 westbound we will get jobless claims and follow you around at 10:00. but all ooh that, joe, will probably take a back seat. >> and when we talk about health care again, because president obama made a prime ti

s&p 500 telling us whether or not they made money. we're going to hear from a dozen members of the dow. household names such as mcdonald's, caterpillar, merck, microsoft, amazon, apple. they're going to give us even more in-depth insight into what is the most pivotal earnings s season we have seen in years. and they'll give us some clue as to whether or not, maria, the economy is finally turning. back to you. >> it's an important check.. thanks very much, michelle. let's get another take on today's market action. we turn on that cnbc investor network. fire that up web cam connection. straight today from annapolis, maryland. adrian day is with me, chairman and ceo of adrian day asset management standing by. adrian, have you been investing based on what you've seen out of earnings? >> no. we've done very little investing in the last couple weeks, to be honest, maria. to me stocks are -- u.s. stocks, and global stocks, for that matter, are neither compelling value that i want to see aggressive buying, nor are they particularly overvalued and i want to be selling too much. so we're just sitting on the sidelines. and frankly,

and tomorrow, that actually ownership of mcdonald's should bode well if the tape rolls back over. >> look where we are in the s&p, where we corrected from. two weeks ago we're at 870. we're 100 points higher. that's pretty aggressive on the way up by anyone's standards. >> the question is, you know, the mood that we've seen, you know, in the past couple of weeks in the markets, were we already anticipating that the earnings would knock the cover off the ball? isn't the fact that the earnings actually have to come out, is it that we've already priced that enso we're not seeing that and we're going to come back to normal? >> the nasdaq up 13% in the last two weeks alone. you've got to have a lot of really good news to keep that going. i mean, this last couple of days i have thought this is the flight from safety. and this is a trade we've had on safety versus short to hire, hasn't worked at all. i think tomorrow maybe that will start to work because you had names like walmart actually down today and some of the specialty rel tail just zooming. so i think that will reverse. >> and the early tell tomorrow, pete, y

the mcdonald's, cokes, boeing, american expresses, all the dow components kick off tomorrow the lion's share of the ss week. joe, you and i will be doing that work as the days progress. >> there's some huge -- you know, mcdonald's, coke, merck. >> dow components. >> yeah. 40%. >> 4%. >> i figured that out. carl's on his way on the scooter medicare pays for. >>> now we turn to guest host, congressman paul ryan, senior member of the ways and means committee. off camera, we didn't have time in that interview, congressman, because i brought up i saw grassley, who's kind of -- you don't think of him as a real nasty guy. and when you say -- he says that the public plan isn't a competitor, it's a predator. >> isn't grassley who said that guy should kill himself? >> yeah, he had -- >> oh, yeah, that's right. that's right. the guy who -- >> aig. >> yeah. he said the aig guy should fall -- >> you know, he's a corn farmer from iowa. he's a -- >> right, but he's friends with backus. my point is, your side seems to have their feet in concrete. >> that's right. >> we heard from howard dean, they're going forward w

s ohea one section of l.a. revealed 24 starbucks, 10 mcdonald's, and more than 39 shops selling medical marijuana. >> money does funny things to people. >> reporter: l.a. city councilman ed reyes wants to limit the number of cannabis clubs. is it really legitimately that big of a demand for medical marijuana? >> i know the demand is there, legitimate is the question. >> reporter: that's the key word, isn't it? there could be fraud taking place on these prescription pads. >> exactly. right on point. >> reporter: to jason beck, it's not about competition. it's about treating those most in need of medical marijuana. >> with 800, 900 potential facilities in los angeles county alone, you can't tell me that every single one ofis for the is for the benefit of the patients. >> reporter: with apps now to find medical pot and all the potential profits, cannabis clubs are finding that grass is greener. hattie kauffman, cbs news, los angeles. >> is it me, or have i seen this in an episode of "weeds" on showtime? or is it going to be one? or "entourage," one of those. >> the best application they have is finding bathrooms i

mcdonald's. so thehey elel bter and the money is therere. somebodydyhohoulbe made to anansw, , wrence, for this. mean, this is 6% of grgrs s national product a andt't'not dodoinanything? atat wt wrong? >> youou kw,w,at, there was the atement by vice presididt t biden saying, maybybe m mread the e ecomomy. chuck todd p p a a qstion to bararackbaba in moscow ststery. let's lilienen twhat the presesidt t d to say about how they gauge the economymyhehen ey were come inintoffffe on ininaurarati day. let't'lilist. >> i wouldld auauall-- rather anan s misread, we had inincolele information. weame in january 20th. it w wasnlnlafter the fit-t-arter numbers came in n that suddenly everybyby y loed and sasaidhehe enomy sh rank 6%. so it's happenining chchore raradldly an accelerated pace ananhe projections out thehere at the time. >>>> p, , gohead. that's preposterous.. he's g gotumumrs, geithner, ththeye been on top of this s thing since september.r. i would call t the g guyin and say, look, you guys s ha g gotn meme, r party and our admininirarati in real trouble beususe u didn't see it coming. and d deden ys you didn't see it comi

mcdonald's any monday through august 3rd... and get a sample size free! awesomé. ♪ ba da ba ba ba and, 64 calories of michelob ultra. enjoy. thanks. 64 calories. fresh from the tap taste. mgd64. sle deals. and with her daughter starting middle school tomorrow, connie's got some high expectations. she expects look 11 might be the one. she expects look 17 might be the one. so she shops target. where they've always got her back for back to school. target. expect more. pay less. ♪ >>> hi, there, welcome back. well, you're here on -- all this week we're joined by the stars of judd apatow's new movie, "funny people". it opens friday and the cavalcade begins tonight with leslie mann. also with us tonight, from "the ugly truth", eric winter is here. and later, a band from virginia you can see them on their first-ever tour with kelly clarkson, making their first-ever appearance on network television. this is their debut album "losing sleep", music tonight from parachute. tomorrow night, jonah hill, mary mccormack, and professional skateboarder ryan sheckler. then later this week, seth rogen, melissa sagemiller, anne heche, aubrey plaza, and music from both diane birch and jack's mannequ

s&p 500 futures are up just about six. we've got a handful of dow components on tap. a very big week for earnings. mcdonald'sexpress and pfizer among the highlights, boeing as well. looking at the currency market or rather looking at bonds. that's where we're going next. the ten-year yield is up to 3.69%. we're going to have more issuance of debt. it is short term. we've got $60 billion worth of three-month and six of month treasuries. ben bernanke will be on the hill. it's light on economic data, ross. nonetheless, lots for people to focus on. we're getting good data out of europe. >> yes. well, the economics ministry, ministry of finance in germany is suggesting that we'll be out of the woods fairly soon. as stock markets here, after five days of gains last week are up again. the ftse 100 near the session high. nearly all sectors are firm. resource sectors, financials doing particularly well this morning in europe. only autos are down. stocks are firmer. that means the yen is walker against the dollar. the euro-dollar over 1.42. back over 1.55 on sterling. christine? >> in asia, nice gains across the board

mcdonald's is up 40 times. we've been an investor in devry. just replaced general motors in the s&p 500. amazing.n bringing the company private in 1976. and it was $150 million market cap when he went private. we invested in the company $100 million. i think they had 19 hotels. they were building hotels at airports. there weren't hotels at airports at the time. now they're talking about bringing it public at $5 or $10 billion. and 19 hotels at the time.. so if you invest in a growth company, ip vest in interesting people for the long term, and this is such an exciting g country, such an exciting economy, that it's hard to imagine that you can't do well. >> but people say buy and hold is dead. i mean, if you hold onto mcdonald's and disney since you were first recommending it? >> unfortunately, for me, i didn't. i did invest in mano care since i was in law school and that's up 100 times. i learned over time, when i saw all these companies, and i did hold onto devry and charles schwab, which is up 50 times. how many of those do you think you need before you can become a successful investor? dwloo h