melissa francis, no >>> a murder mystery. for help in the murder of a popular business owner who was killed in her own home. >>> some relief in sight for commuters that use cham bridge while it's under construction. we will have that story coming up. >>> stormy weather after a night of isolated storms. the forecast calls for the possibility of more rough weather today. >>> good morning, and well can um to the 9:00

. >> and i'm melissa francis. the house financial services committee holding a hearing this morning on financial reform. we'll talk live with two of its members, republican michele bachmann and democrat greg meeks. this is "the call" on cnbc. >>> better than expected earnings from the likes of intel and goldman sachs putting investors in a buying mood, hoping the economy turnings around. look at how stocks are trading right now. the dow is roaring higher, up 150 points, almost 2%, 8508, the last trade, the s&p following suit. also trading to the plus side. we have it there, up almost exactly -- it's 1 3/4 percent, and the nasdaq trading higher as well, almost 2 1/2 points, on the back of intel. trish, good moves this morning.. >> yeah, everyone is in a great mood and why not with this rally. this is something you and i were talking about off camera yesterday. when you look at the first fishing, and you see the financials, and that set the tone for a rally going forward over the next several months, a lot of people

i'm melissa francis in today for erin burnett.osing bell" is coming up next with maria bartiromo. have a great weekend. >> announcer: this is cnbc.com news now. >>> the university of california may furlough tens of thousands of workers in an attempt to save $184 million. uc president mark udoff is proposing the cuts to offset an expected 20% reduction in state funding. >>> newscorp is denying allegations made in the uk's "guardian" newspaper about le

we say hello to cnbc's melissa francis. good morning. >> hey, jenna, hey, carl. good morning, everyone. exiled president of honduras continues to camp out, demanding to be reinstated as president of honduras. joining us from the border with more, kerry sanders. >> reporter: coming back to the border here again today. on saturday, he came to the border with hundreds of supporters, who are urging him to regain his presidency in honduras. he was deposed at gun point june 28th, leaving the country in pajamas. he did not make it across the border on saturday like he did on friday, he says he's symbolically showing the world he will not give up. the fact that the government in honduras says they will not back down and that he was legally removed from office when he tried to extend his term. left leaning governments like hugo chavez in venezuela have supported him. his actions on the border have brought u.s. criticism the past few days. secretary of state hillary clinton says you're doing is reckless. >> she should criticize the people who overthrew me. i'm disarmed and

. >> i'm melissa francis. connecticut attorney general richard bloom is set to testify on capitol hill tomorrow on the consumer protection legislation but he will be on live this morning to tell you why he thinks you need more protection. this is "the call" on cnbc. >> welcome back, ybody, markets on a roll this morning, i think investors are licking their chops over the expectation that goldman sachs going to have dynamite earnings no one particularly worried about the fate of the cit lender. the dow is up a percentage point, over 80 points. the s & p is up about 7 or 8 points, look at that 8.25 points. the nasdaq up 9 almost 10 points. we are rocking and rolling. oil is below $60. gold is off, ten-year treasuries down to 330 or thereabouts, trish. good morning. good to see you. >> good morning, larry, good to see you, too. okay, so, we have got some upside here, significant upside, a volatile session thus far this morning. some of the strength we are seeing is, in part, because of the financials this is ahea

i had a quick b calculus primer at the commercial break. >> i'm melissa francis of cnbc.st let's take a look at where the markets are trading. dow jones industrial average coming back a little bit. it's lower, but not as low. >> actually that's not. but so close. >> s&p is down a little more than two points. the nasdaq is up eight. not bad. >>> ready for things you can understand now? a sports club working on ways to get you working out. they want you to shell out the big bucks for their membership fees even though times are tough and money is tight. so they've got these creative ads to lure you, entice you. >> i saw the ads. it's going to work. i'm definitely signing up. >>> the latest on the michael jackson case now that police are investigating his personal doctor. it is a big business. today the senate judiciary committee voted 13-6 in favor of confirming sonia sotomayor for the nation's highest court. >> one lone republican, south carolina's lindsey graham gave sotomayor a thumbs up. here is what lindsey graham told her during the confirmation hearing. >> we're 200-s

i'm melissa francis. >> i'm contessa brewer.it's the economy" on msnbc. >>> president obama telling the public the nation is closer than ever to a health care overhaul. >> about an hour ago he talked about his efforts in a statement in the white house rose garden. >> the american people understand the status quo is unacceptable. they don't care who is up or who is down politically in washington. they care about what's going none their own lives. they don't care about the latest line of political attack. they care about whether their families will be crushed by rising premiums. >> with us now is nbc white house correspondent savannah guthrie. obama talked about the agreements we with congress. was he trying to create momentum? it seems like he's lost a little bit of momentum. >> reporter: what he's doing is what he did on friday as well, which is to say let's take a step back here and show the progress we've made. everybody watching and wants to talk about the divisions and where the fights are and so he wants to say look, we're

. >>> welcome to "the call," i'm melissa francis, trish regan is off. we are 90 minutes into the trading day. stocks moving lower as investors digest the earnings from general electric, parent of this network, citigroup and bank of america. we are listening in on the citi conference call, and we will sort it all out for you. >> hi, i'm larry kudlow. cit races to avoid bankruptcy as the government refuse to say bail them out. i think that's a return to capitalism. but some are wondering, are the big banks more important to the economy than small business? that will be our call of the wild. this is "the call." this is also cnbc. >>> all right. updated economic data from the housing sector offset by disappointing results from ge this morning and google last evening. right now, the dow is trading lower, but not much, really. just about 13 points.. the s&p following suit, down about 4 and change. the nasdaq also off. before we head over to the earnings central, let's check in with matt nesto down at the new york stock exchange. hello, matt, what's the fallou

welcome to the call, i'm melissa francis, we're awaiting president obama to speak live in moscow at a joint press conference with russian president medvedev. we'll take you there live just as soon as it begins this. is the call on cnbc. >>> stocks lower right now, pressured by fallen commodities as investors worry about a delay in a global economic recovery on the bright side. and economic reports showing activity in the service sector contracted less than expected in june right now. take a look at the dow, it is down 54 points on the day. it's about 2/3 of a percentage point. really not bad. down about .8%, almost a full percentage point on the s&p. ask the nasdaq is trading in the negative territory about 1%. >> we've seen these markets hold on to their levels here, down 53, a little better than earlier this morning and we've been staying in that range. but you know, really the economy is acting as an overhang on this market right now. we got that jobs report on thursday. it wasn't pretty, concluded have been worse some people said, but it was a lot more jobs lost than people antici

i'm melissa francis in for maria bartiromo. no matter what happens with the rain here at cnbc global headquarters, in the market right now a choppy session on wall street. we've seen stocks trading in a relatively tight range for much of the day. however, we are seeing weakness falling. the fed's latest beige book report and the $39 billion auction of five-year notes drew higher yields than expected. as for the major indices, right now take a look at where the dow is trading. it is up -- sorry. pardon me, down 74 points on the session. .8%. the nasdaq right now is trading to the down side as well. down by about 16 points. .8%. almost a full percentage point there. and the s&p 500 is trading to the down side as well by about ten points. bob, what's on your radar down there? >> well, here's a big test for resiliency. i keep using that word. traders getting excited. remember, stocks have been down in the middle of the day for four or five days in a row, but they always keep coming back. we'll see if that happens today because this

. >> and i'm melissa francis. first on cnbc interview with marquet sims, her take on the retail sector going forward and to the all important back to school shopping season. this is "the call" on cnbc. >>> all right. sort of a buy on the rumor, sell on the news trading day so far this morning after yesterday's big gains of. stocks modestly lower despite better than expected earnings from goldman sachs and johnson & johnson. on the economic front, the retail sales number was sloppy.. that's how i would characterize it. producer prices came in on the high side. businesses are still cutting inventories.3 and small business firms are less optimistic. the net-net of whole net dow is off slightly 20 points, as you can see, the s&p is down just about 2 points and the nasdaq is off about 5 points. i want to see where oil is, because we have the opec representative here, melissa francis, straight from the horse's mouth. >> i cannot let you get away with that. i just -- >> just a moment -- >> can't let that happen. opec re

i'm melissa francis in for maria bartiromo. and here's what we're following at the close. stocks retreating for a second straight day after a weaker than expected report on durable goods orders and a disappointing five-year treasury note auction. but the markets did recover a little bit after the fed's latest beige book report showed four regions of the country are seeing signs of stabilization while two others report a moderatie ining pace of decline. and oil getting crushed, crude today down 6%. to close at $66.35 a barrel because of a much higher than expected rise in weekly inventories. here's a look at how we finished the day on wall street. the dow trading down 24 points. not bad compared to where we were earlier in the day. only a quarter of a percentage point. the nasdaq down a little more than seven points. it's about .4%. the s&p 500 down almost half a percentage point. bob pisani, our eye on the floor of the new york stock exchange, long time no see, bob. >> indeed. the important thing is the market is resilient again. i know, you're tired of hearing that line.

. >> i'm melissa francis. in "call of the wild" taxing the rich for universal health care. wait until you see who the rich are. is that the right solution? we'll debate. this is "the call" on cnbc. >>> all right, stocks are modestly higher as investors look for bargains from the recent sell-off. all-important earningsean after the ll today. on the economifront, the international monetary fund saying the global economy is starting to pull out of recession in 2010, that is, but the recovery will be sluggish. the dow is up ever so slightly. by the way, ten-year treasuries well below 3.5%. the s&p has dropped slightly into negative territory. gold is down $13. the nasdaq is also down. none of this bodes particularly well for economic growth expectations. and trish, on top of all that, let's tax rich people. they are the real evil culprit -- >> all evil. >> the root of all evil, as miss francis just said. >> yeah, well, they want to pay for health care some way, and this is what they're talking about, larry. it certainly makes a lot of people very, very much outraged by the ne

i'm melissa francis live at jpmorgan headquarters. i'm joined my mike cavanaugh, the cfo on the heels of the blockbuster earnings report today. let me ask you quickly before we get to that about cit and jpmorgan's exposure to that, since that's our other huge story of the day. what's your exposure? >> sure. no material exposure, melissa, so we're fine. >> any counter party risk or anything like that? >> no, nothing that i would expect to create any material issues for us. >> okay. let me ask you about the quarter. blockbuster revenues, $27.7 billion, way more than people expected. is that sustainable? >> well, you know, let me tell you about a quarter per second, so $2.7 billion to profits. obviously, against a tough economic back drop, which we have been having, we have to be pleased with those results. 28 cents a share, 2727 of revenues. that's revenues in the quarter are a record. also before credit costs, pretax profits of over $14 billion in the quarter. so both those numbers are records for the quarter and the year. obviously, v

cnbc's melissa francis is at the new york stock exchange. melissa, what are you watching there this morning? >> good morning, natalie. we've already seen blockbuster earnings out of jpmorgan this morning. we're waiting for google and ibm coming up after the bell today. so a pretty positive day already. but there could be a pothole in the works. small business lender cit for file for bankruptcy in the next 24 to 48 hours. they keep thousands of small and medium-sized businesses running. and also despite $50 billion in subsidies from the obama administration, foreclosures are on the rise, up 33% in june, compared to this time last year. natalie, back to you. >> all right, melissa francis at the new york stock exchange, thank you. >>> a big change today for the tallest building in the u.s. chicago's sears tower is officially becoming the willis tower after a london-based company got naming rights. >>> and 45 years after he and the rest of the beatles made their u.s. debut at the ed sullivan theater, paul mccourtney put on a show there wednesday

cnbc's melissa francis is at the new york stock exchange with that story. melissa, good morning to you. >> good morning, meredith. one of those companies is goldman sachs. it reports big profits today. big bonuses could be next. not just at goldman. so on wall street, is it back to business as usual? with the nation's unemployment rate moving closer to 10%, a housing market still plagued by foreclosures, and households struggling to make ends meet, it might be hard for most americans to believe that it's back to business as usual on wall street. but at companies like goldman sachs and aig, both of which borrowed bailout money from the government, billion-dollar profits are back, and big bonuses could be next. in fact, goldman sachs is on track to pay out as much as $20 billion in bonuses for 2009. that's roughly $700,000 per employee, more than 14 times the average american household mc. experts say the situation is similar at other financial giants. >> there are top executives that are making more before lunch than the average worker makes in a year. howeve

we head back now to melissa francis with more on geithner. >> thanks. tim geithner before a joint house panel defend his plan to raise otc derivatives market. >> the treasury secretary has taken the opportunity to defend the overall obama administration plan for regulatory reform. of course today's accent on over-the-counter derivatives proposed regulation with good reason. geithner testifying before two powerful house committees, financial services and agriculture, whose combined membership includes 111 law makers. the goal of regulating rivatives, says geithner, whether thugh clearing houses or higher capital and margin requirements is eased oversigh >> served thi subcomttee on capital market >> firms wlnolonger be able to use derivatives make commitments with inadequate capita no dealer i these markets would escape oversi we willbrg the risk-reducing and financial stability promoting benefits of central clearing to these important markets. >> skeptics are already saga montgomery other things, the devil is in the details of whatever final version of r

markets, cnbc's melissa francis is at the new york stock exchange watching it for us.are we looking for there today? >> good morning, natalie. we have three major earnings reports out today, ge, bank of america and citigroup. the markets riding high after great reports yesterday out of jpmorgan, also ibm saying that the rest of the year looks even better than they expected. so we'll see if this sentiment continues through the day. we're also watching larry summers, who is the assistant to the president on economic policy. he is out later today with a report on how the administration is propping up the economy. we'll be listening for cues as to when the economy may be getting better. natalie, back to you. >> melissa francis at the new york stock exchange, thank you. >>> tragedy in france, where the roof of a stage being built for a madonna concert collapsed. killing two people, and injuring eight others, including an american. madonna, who was in italy at the time, said she was devastated by the news, and offered her prayers to the families. >>> and 17-year-old sailor j

. >> andnd'm melissa francis. wel have those stories plus -- it didnn h haen to me, but a bunc kiki. . >> a p pesysylvia swim club rips ay a chance forr awewely dip in theheooool r the kids, why? kids say it's because othe color r ofheheir skinin. ththewimlub says thhey might chanangethth complexion of thehe club. their r wordii swear. >> butetet's get to ththe big sty y wee following ririt t now. brbreangng ns in micichigan.n. and five peoeopl i looks like, we're just gettingin. five people dea after a collisisn n beeen a car a and trn in canton t townipipfter no toy. wee staying on top of that. > > inhe meantime, general motorsrs cldld bfree of bankruptcy in lehan 24 hour, a faster comebackhaha xpected. cnbc's phhil bebeauoins us on ththe one. in a lotot of ysysow the heavyy lifting g egins. >> t this t t toughpart, meme list sachltt thi is w whe general m mororshas to proveit can thririve a s sceed as a bunenessithout government prprection underhapter 11 bankruptcy les. inin my ysys, it seems strtran to say isi

melissa francis is directly connected to opec and may wish to talk about the oil rally. >> nah. >> hielissa. >> i think we'll move right on to earnings, larry. why not? >> come on! >> a huge day for earnings, hits and misses, mcdonald's and 3m. the dow component reporting lower quarterly property, lower than expected sales. we're going to talk about the giant. >> 6 cents the results were taken away by currency, and the results weren't bad. matched the estimate. you take out a 1-cent gain and gained share because of the copy line and making a big push into this mccafe concept. but store sales were a bit of a problem. 1.8% growth in the u.s. street wanted 3.3. global growth in same-store sales, 3.6, street wanted nearly double that. so some of the good gains we have been seeing in the past quarters weren't there this time. >> kind of surprising, right, given you would think in tough economic times everybody is going to go to mcdonald's. >> right. and they were confident in the outlook for the year. but you know, guys, larry, too, yesterday we had chipolte, p.f. changes and mcdonald's. a

i'm melissa francis in for maria bartiromo, and here's what we are following at the close. a seesaw trading day on wall street. stocks strug tolling find direction after a mixed economic report by the imf. concerns about earnings season and weakness in the energy sector. that is because oil prices just keep collapsing. crude falling $2.79, or 4.4% today, wow, to close at $60.14 a barrel. oil is now down 15% over the past six trading sessions. and earnings season is about to kick off. alcoa just moments away from reporting its second quarter results and we'll bring you instant analysis as soon as the numbers are released. here's a look at how we finished the day on wall street. the dow climbing into positive territory. look at that, up 15 points. about .2%. remember, we had been negative for most of the day. the s&p closing in negative territory. although just barely so. and the nasdaq closing up just 1 point. let's get more on today's action. bertha coombs is our eye on the floor of the new york stock exchange. bertha. >> a wild ride, melissa. we saw all of the indexes here

>> i'm melissa francis. the state of the real estate industry is changing both residential and come mersing, cnbc exclusive, we will talk live with new york real estate big wig bill rudin and get his take. larry? >> i'm larry kudlow. in an unprecedented move, fed chief ben bernanke holding a town hall meeting to bring his expertise to directly to the american people. in "the call" of the wild, is he being more transparent or just trying to save his job? can't do anything right anymore. we are "the call." this is cnbc. >>> hello, everybody. stocks getting a brief boost from strong new home sales which soared 11% in june, heck of a number, largestnthly increase in nearly nine years. but the rally is short-lived. stocks are off some. instinct today, gold is rattling around, oil is rattling up and the treasury bond rate is up to 375 or thereabouts. that is a sign of economic strength. let's just take the s & p is down 4, call it 5 points, about a half percent. dow off 38 points. the nasdaq dropping about 13 poi

i'm melissa francis. larry kudlow is off today. jpmorgan chase's chief economist bruise kazman came out with a call, and we're going to have him live. also, the house is planning to pass a $2 billion bill to keep the cash for clunkers program alive. we'll have the very latest from washington and discuss whether it will indeed have a positive economic impact.t. we have a jam-packed show. this is "the call" on cnbc. >>> all right.. stocks bouncing around after the government reported that the economy shrank by 1% in the second quarter. better than expected. but on the flip side, consumer spending weaker than expected. take a look at the dow right now, back in positive territory after that dip there. you see at the open, we're up 33 points on the day. that's about 4/10 of a percent, the s&p trading to the plus side up 3/10 of a percent and the nasdaq also in had positive territory, up 4/10 of a percent. trish, we end the week and month on a good note, maybe, it looks like? >> looks like it, melissa, definitely. at least the best since

. >> and i'm melissa francis, the commodities trading commission in a reversal from the bush administration is now blaming price oil surge on speculators. this is "the call" on cnbc. >>> stocks struggling a bit lower this morning. pressured by another weak consumer confidence report. yesterday's new home sales already forgotten. right now, the dow trading lower, down 35 points on the day. 972 the last trade 4/10 of a percent. 975.94 and the nasdaq down by 4/10 of a percent. trish, what's the move like on the floor today? >> you said it. people kind of have a short memory. basically, we're off 34, despite that very encouraging news from kay shiller. and i actually didn't realize that. larry had pointed out that it was the first time we saw that kind of uptick from what, years and years and years ago. so i didn't realize it was that long. we'll have to get more information from a historical perspective from larry on that. but definitely, you know, people basically taking into consideration that the consumer is being weighed down by the economy, by the lack of jobs out there, and that's affect

. >> and i'm melissa francis in today for maria bartiromo. cnbc global headquarters. the markets right now, falling commodity prices putting pressure once again on the equity market. oil falling to $60 a barrel on ongoing concerns about the health of the global economy. all weighing on the sentiment on wall street. as for the major indices, take a look where they are trading right now. the dow is down 31 points. that's about a third of a percent, a little more, we're heading to half a percent now. the nasdaq is also trading to the down side, down about half a percentage point. 1737 the last trade there. and the s&p 500 is trading down by a little more than 7 points. it's about .8%. 873. matt. >> all right, melissa, as they said, we're down for the third time in four days. we've shed about 5% on a week to date baasis. our market reporters are standing by and eager to go. let's start with bertha who's covering the nyse today. >> thanks very much. one analyst was saying maybe the green shoots were actually green shorts that we saw. and one of the things that people have

on that note, i'm melissa francis. >> i'm trish regan. >> i'm larry kudlow. see you tonight on the culledly report at 7 p.m. eastern. and "power lunch" is up. >> illinois see you on street signs. >>> this is cnbc.com news now. >> stocks are adding to last week's gains. the dow growing positive for 2009 and the nasdaq trying for the first nine-day winning streak in 11 years. >>> t.a.r.p. inspector general neil barofsky says investors could be on the hook for $27 trillion, testifying before the house oversight committee tomorrow. >>> shareholders of drug maker wythe approved the acquisition by rival pfizer. that is cnbc.com news now. i'm julia boorsen. >>> happy monday, everybody, welcome to power lunch, i'm sue herera. to our partner, bill griffeth is off this week. stock market pushing higher, not on its best levels, however, caterpillar is among the stocks pushing the dow into positive territory for the year, as a matter of fact. fresh clues whether it is coming to answered. >> i'm michelle caruso-cabrera, many are looking to technology to lead us out of rec

i'm melissa francis in for erin burnett today. "the closing bell's" up next with maria bartiromo. >> announcer: this is cnbc.com "news now." >>> the e.u. says it welcomes proposal by microsoft that lets users choose their own web browser. microsoft is trying to resolve eu antitrust charges. >>> an h1n1 virus diagnostic test made by qwest diagnostics has received fda approval for emergency use. it's the third such test that's received an fda nod. >>> and amazon shares are down about 8% after disappointing wall street with the latest sales numbers. i'm rebecca jarvis. >>> and there's a live picture of the floor of the new york stock exchange on wall street. modest moves for stock prices today. a quiet way to cap off a nice run for the s&p 500, which is up better than 8% in the last two weeks as we enter the final and most important hour of the trading day. hi, everybody. welcome to "the closing bell." i'm maria bartiromo. today coming to you from federal hall in lower manhattan, right across from the new york stock exchange. beautif

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i'm melissa francis and here's what the street is talking about at this hour. the summer rally returns. the market turns positive. take away microsoft and united technologies, the dow would post an even stronger gain at this hour. can the hot streak keep going? plus, the obama change train running out of steam it looks like. is d.c. gridlock picking up the pace on wall street and standing by their man. a sponsor sticks by their star accused in a crime. is that stupid or smart? that's our show, and it starts right now. all right. in case you didn't notice, stocks turning positive. let's get a quick check on the market right now. the dow above 9,000. the best performing group utilities. look at that turning positive there in the last 45 minutes or so. it's up about 11 points but remember where we started the day. the worst performing group is tech which isn't surprising after a 12-day winning streak for the nasdaq. among the biggest gainers cit. keep in mind it's cit's last day to trade on the s&p 500. so what is money talking about at this hour. >> reporter: her

. >> melissa francis, thank you so much. good to see you here with the forecast. >> can you believe this is our last july weekend? >> it is starting to get warm here, though. >> i know. today will be great. tomorrow -- that is an official term. let's talk about what we are going to deal with. one of the dig stories is how hot and dry it has been in the mid-west. possibly near 100 on monday. the pacific northwest is getting all of the heat. big story today chance of severe weather right now we have a line of strong storms rolling through ohio and kentucky. it will be a sunny and warm day from d.c. to new york city. the heat continues, >>> good morning, everyone, it is going to be a warm day with temperatures climbing into the low 90s. we'll have plenty of sunshine. 71 right now. 65 out of dulles, due points have come up. right now they are in the upper 60s so it is quite mid. we are for the most part clear. a few clouds will move through today. there's a storm wall that could bring thunderstorms tomorrow. for this afternoon,

. >> melissa francis, thank you so much. good to see you here with the forecast. >> can you believe this is our last july weekend? >> it is starting to get warm here, though. >> i know. today will be great. tomorrow -- that is an official term. let's talk about what we are going to deal with. one of the dig stories is how hot and dry it has been in the mid-west. possibly near 100 on monday. the pacific northwest is getting all of the heat. big story today chance of severe weather right now we have a line of strong storms rolling through ohio and kentucky. it will be a sunny and warm day from d.c. to new york city. the heat continues, one of the >> temperatures in the 60's and 70's in a few locations. can't rule out awest. denver not bad today. florida, your typical afternoon storms. that's a look at your weekend forecast. >> friday the dow closed above 9,000 for the second day in the row. it's highest by the way, since january. but was the news good for inv t investo investors? >> two days in a row, i was there with the news

cnbc's melissa francis is at the new york stock exchange this morning for us. melissa, with a budget deficit already topping a trillion dollars, we've got three times what it was a year ago, how would health care reform bill impact this economy? >> well, ann, small businesses either have to provide health care or pay a haefty penalty. also as you mentioned it would raise the taxes on high income households to pay for it. so a lot of small business owners would pay twice. that's no doubt going to be a drag on the economy. the biggest story down here today is intel blowing the doors off earnings, having the best quart irover quarter profit growth since 1988. the cfo saying that he thinks the computer market has bottomed and that is putting wall street in a very good mood this morning, ann. back to you. >> all right, thanks so much. >>> people in parts of minnesota are dealing with severe weather, including a tornado on tuesday. it ripped off roofs but the good news is that it caused no serious damage. >>> a frightening incident in germany where a biplane doing som

i'm melissa francis. >> i'm larry kudlow. see you on the kudlow report at 7 p.m. eastern and "power lunch" is up next. >>> good news. on my way up here, i saw a penny and i picked it up. >> and all day you'll have good luck. >>er destined for good luck. i'm bill griffeth. a little minor profit taking for stocks very good news on the homefront, so far, not enough to offset the mixed news on earnings we have had so far, tech the big losers today. >> good to have you back, bill. i'm sue herera. president obama meeting with chinese leaders hoping to forge a closer relationship but when it comes to the economy, is china a friend or a foe. >> i'm michelle caruso-cabrera, the government's payczar is supposed to take a closer look at compensation packages at banks that still have taxpayer bailout money so, when it comes to bonuses is a deal still a deal or should you give it back? watch the sparks fly on the power grid. here is what else is on the menu. >>> on the earnings menu, results from verizon, numbers from honeywell, radio shack as well as corning. >> in this care

. >> that's it for "the call" i'm melissa francis. >> and i'm larry custokudlow, su tonight on "the kudlow report." "the power lunch" is up next. >> this is cnbc.com news now. >> freddie mac reports the average 30-year fixed rate is 5.25% compared to 5.20% last week. "wall street journal" says china investment corporation has chosen morgan stanley and blackstone to oversee hundreds of millions of dollars as it enters the u.s. hedge fund business. >>> shares of nbc universal parent ge are up 8% after goldman sachs upgraded the stock to buy from neutral. that's cnbc.com news now. i'm julia boorstin. >>> faster than a speeding bullet, this stock market is back above 9200, everybody. what's the matter? >> a single bound. >> welcome to "power lunch" the summer rally is back. the nasdaq back above 2000 for the first time since the dark days of last october. while the s&p 500 takes aim at 1,000 right now, sue. >> indeed, it does, bill. and coming up, the results of that huge treasury auction in the next hour. it could add more fuel to today's surge, but remember yesterday's didn't go so well. so

a quick programming note, coming up on "the call" a cnbc exclusive, melissa francis since down like with jp morgan chase's cfo, michael cavanaugh to get a first hand look at his company's earnings, the economy, financial sector, you know, whatever he wants to talk about. that's his high school prom picture. thaems that's coming up on "the call." coming up next, however, a look at how traders are digesting the latest news. >>> and on the hot seat, hank paulson testify egg on his roel in the bank of america/merrill lynch deal. that is starting at 10:00 a.m. eastern. g b >>> you're watching cnbc's "squawk on the street" live from the financial capital of the world. >> we're down here on the floor being joined by barette meyers. he's the ceo, the big man, the big kahuna. what's going on here? >> we had a couple days of beautiful run up here off of earn cans and economic data. i think we're ready for a bit of a respite today. cit will weigh a little bit on this marketplace and, you know, i wouldn't -- >> but my point is, it looked like we were head & shoulders, we were going to test the bott

>>> that is it for "the call" thanks for watching, i'm melissa francis. >> and i'm larry kudlow, see you tonight on "the kudlow report." and now "power lunch" is up next. >> white house economic advisor larry summers says the u.s. economy has come, quote, back from the abyss. the remarks come to the peterson institute. a federal judge dismissed an insider trading complaint against mark cuban. the complaint involved mama.com. the guarantee corporation says it will take responsibility for the underfunded pension at nor tell network. that's cnbc.com news now. i'm julia boorstin. >>> hello, everybody.y. it's finally a friday. welcome to "power lunch," i'm sue herrera.a. stocks are in a tug of war as the street wraps up a bullish week. the nasdaq now lower for the first time in eight sessions, but should you expect a friday afternoon rally? the trader triple play will get you ready. >> that's right, i'm michelle cabrusso-cabrera. house speaker nancy pelosi is at the time to give a news conference on the democrats' health care bill. this is fiscal watchdog says the plan isn't going to rein

>>> first, melissa francis. what's coming up on "the call"??ay you say my name, mark. coming up on "the call," we're all over the big three earnings that came out this morning from ge, citi and bank of america. mary thompson is on citi's conference call. and as cit races to avoid bankruptcy got us thinking why didn't the government bail them out? some are asking are big banks more important than small businesses in reviving the economy. all that and latest market news and reaction only on "the call" at the top of the hour. first "squawk on the street" back after this break. . >>> time now for the friday y trade. this weekend, bob pablick, b bannian partners, and i bet it's a partying group. start with the party man, b b mcginn. what's on for weekend, bernie?? >> i've got three of them, but i think you can start with bank america. they've had a little by of a run-up in the last couple of days, but i think that long-term, you know, the action in the banks the last couple of months really has been about stabilizing the system, and now we have move

. >>> i'm melissa francis, another cnbc exclusive, talk live with the am corporation's chief medicalficer, they have a survey just released that says most u.s. employers are against government-support health care. it this is "the call" on cnbc. >>> okay. stocks losing steam after opening higher on optimism over a deal to keep cit out of bankruptcy. better-than-expected earnings, bullish call from goldman sachs, raising the year-end price target on the s & p to 1060, a 30% gape from now. dow trading higher by 23 points, positive on the day about .3 of a percent. s & p plus side as well, just barely, only 2 point there is, .2. the nasdaq trading higher by about .3. larry is trying to get here. trish, what is happening? >> i don't know if we are going to let him. may make him wait. >> i'm raising my hand. i just want to put in -- >> whatever you want to say. >> the index of leading indicators. >> yes. >> underrated bud very important, three straight months, the two prior months revised upwards it is a strong

. >>> but first, melissa francis, what's coming up. >> at the top of the hours, the cftc on a reversalm the bush administration now blaming oil traders for the spike in oil prices last yore and a our call of the wild will debate whether speculation is really to blame. and teva pharmaceuticals ceo on where his company is headed. all that plus the latest market news and reaction, only on the call at the top of the hour, but first "squawk on the street" is back right after this break. undefeated professional boxer floyd "money" mayweather has the fastest hands boxing has ever seen. so i've come to this ring to see who's faster... on the internet. i'll be using the 3g at&t laptopconnect card. he won't. so i can browse the web faster, email business plans faster. all on the go. i'm bill kurtis and i'm faster than floyd mayweather. (announcer) switch to the nation's fastest 3g network and get the at&t laptopconnect card for free. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i n

"thanks for watching, i'm melissa francis. >> and i'm trish regan. >> and i'm larry kudlow. see tonight on "the kudlow report." drill, drill, drill. "power lunch" is up next. >> the governor reports a 1% drop in business inventories for may. that's the ninth consecutive monthly decline. companies have been tripping g inventories because of the economic downturn. businesses slightly less optimistic last month, according to a monthly survey from the national federation of independent businesses. but the group points out many indicators in the survey are positive. >>> the pressure re will receive $201 million in t.a.r.p. related payouts after gmac returns dividends on its stocks. that's cnbc.com news now. i'm courtney reagan. %% >>> hello, everybody. welcome to "power lunch," i'm sue herrera, pour partner paul griffith off this week. sizeable rally, or at least what a lot of people would like to see turn into a sizeable rally. energy shares leading the advance. good news on the retail front also brightened the mood, and is chevron, the big winner in the dow. >> i'm michelle cab

street signs with melissa francis is up next. come on in. you're invited to the chevy open house. vehicle is easy. because the price on the tag is the price you pay on remaining '08 and '09 models. you'll find low, straightforward pricing. it's simple. now get an '09 malibu 1lt with an epa estimated 33 mpg highway. get it now for around 21 thousand after all offers. go to chevy.com/openhouse for more details. you have questions. who can give you the financial advice you need? where will you find the stability and resources to keep you ahead of this rapidly evolving world? these are tough questions. that's why we brought together two of the most powerful names in the industry. introducing morgan stanley smith barney. here to rethink wealth management. here to answer... your questions. morgan stanley smith barney. a new wealth management firm with over 130 years of experience. >>> eye i'm martha francis. happy six months to president obama. how he is doing and whether a few freshman democrats derail his health care plan. the 40th anniversary of nasa's proudest day, the day neal arms

. >> i'm melissa francis. >> i'm larry kudlow, sew you tonight on ""the kudlow report" and "power lunch" is up next. >> single family home prices rose in may. this first month-to-month increase in nearly three years, according to the latest s&p case-shiller price index. spss are soaring about 40%. ibm is buying it for $1.2 billion in cash or $50 a share. san fransisco head janet yellin will talk in a speech scheduled to begin in 30 minutes. i'm julia boorstin. >>> welcome to "power lunch" for a tuesday, i'm bill griffith. stocks are generally lower right now, whether you call it profit-taking or whatever, we did get a consumer confidence report that was a little bit troubling on the economy, despite some surprising positive news on the home front, surprising on where it came from. which we'll talk about in a little while. we're also going to get the results of the treasury's $42 billion -- two-year notes. that could move the markets in the next hour here. >> i'm sue herera. are speculators to blame for the wild swings in oil prices? oil regulators say yes they are i'm michelle cabrusso-

i'm melissa francis. the dow soaring above 9000 for the first time since january as the nasdaq closes, its biggest winning streak since 1992. and stocks continue moving higher on this very busy day for second quarter earnings. we're going to bring you all of the hits and misses and the tech talk. will the rally continue? is larry, what's the answer? >> strong news for the economy. the answer is yes. existing home sales climb for the third consecutive month. and the labor market, a better than expected rise, which means the pattern of trending lower is in place for economic recovery. so are we heading for a jobless recovery? we'll discuss that. but you know what, melissa? jobs may come back sooner than you think. this is "the call." we are cnbc. we'll be right back. >>> and there we are. we're back! we're talking about strong earnings reports -- we're out of control this morning. triple digit gains after a better than expected pickup. jobless claims rose. take a look at where the dow is trading right now.

welcome to "the call" i'm melissa francis with larry kudlow. and ben bernanke is discussing the state of the economy before the house financial services committee. let's listen back in. >> the true definition of inflation is when you increase the money supply, and the immediate consequence is it sends out false bad information to the marketplace, so whether it's when the bubble is being formed or afterwards, all you're doing is inplating constantly, doubled the money supply, interest rates are artificial, people make mistakes. so it seems to me that you're in the midst of massive inflation, but i guess you have a different definition when you double the money supply, that's not inflation itself? or are you looking at only prices? >> may i respond? >> briefly. >> inflation is the change in the consumer price level, which is very stable right now. and the various measures of money, as you know, and the broad measures of money, the measures that -- the measures of money in circulation like m1 and m2 are not growing quickly. >> the gentleman from c

i'm melissa francis. we are in day two of ben bernanke's testimony on capitol hill.ight now he is taking questions from the members of the senate banking committee. larry. >> i'm larry kudlow. we have economist vince rhineha rhinehart, cnbc's steve liesman and rick santelli. they're all going to provide instant and brilliant analysis. and we will talk with elizabeth warren, the congressional chair of the t.a.r.p. overhaul handle. >> trish. >> we are 90 minutes into the session, up just barely on the dow and nasdaq. basically, weak earnings out of morgan stanley and wells fargo. they are offsetting the strong earnings we saw from apple. but let's go back right now and listen to chairman bernanke's q and a session. >> do you have any sense of that? >> well, senator, we've had some recent success in this area, as you know. the federal reserve led an inner agency evaluation of 19 large banks simultaneously, which was an enormous effort, i must say, in the so-called stress tests. and what that did, apparently, was give the market some more confidence about what the eventu