. >> that's why melissa lee says she's speaking out... >> thank you all. >> even though, she says, it's caused trouble for her in the county. >> i was receiving phone calls making ugly comments that i need to shut up. [ticking] >> why are hundreds of freezing people gathering in the middle of the night in this knoxville parking lot? >> who's got number one? number one. number two? >> they're here in hopes of seeing a doctor. this is a clinic set up by remote area medical, a charity founded to bring doctors to the amazon, but now it's a lifeline for the uninsured here at home. >> you drove 200 miles to get here? >> yes, sir. >> and slept in this parking lot for seven or more hours? >> yes, sir. >> welcome to 60 minutes on cnbc. i'm morley safer. in this edition, we look at the hard times faced by millions of americans during the economic downturn. we begin with american families falling out of the middle class. the combination of lost jobs and millions of foreclosures at the end of the first decade of the 21st century saw a lot of families homeless and hungry for the first time in their

i'm melissa lee. these are your actions here. stocks closing on the highs. the goal tonight is clear. finding a strategy that works amidst this chaos. before we do that, let ee get the latest from greece where the rallies have died done but the tensions have remained high. no one has covered this more than michelle caruso-cabrera. >> remember, we're holding this because last month the results were inconclusive. too many splinter parties driving the vote part. this week one of the two parties will command enough votes, but it's not guaranteed. if we see yet another inconclusive election, boy, that would mean a lot of uncertainty. greece runs out of cash and the troika would have nobody available to any gosh yat with. secondly, if there is an outcome, who will win. will it be the pro bailout parties or the antibailout party. if the pro bail outparty gets a win, you'll rally. if we see an anti-bailout party, we'll see it fall. what if banks step in and provide massive liquidity in case they actually control the election outcome. then you might actually see a co

i'm melissa lee. the goal here is clear. find names that can preserve your capital and help you make money. let's get into it right now. it was absolutely terrible. a blood bath. >> last summer into the fall, i think the debt volatility regime is something the investors had to live with the whole run up that we saw in q1 right up until last month. it was the exact opposite. we saw the vix in the high teens. now we're kind of high in the vix. we're seeing single stock action that is eye-popping. look at the stock. wells fargo, if i heard it a million times this year from this network, investors talking about wells fargo being a safe haven, that stock is down 6%. that's a little bit of a panic. you're seeing that in a lot of sectors. you're seeing that. coout of the home builders. for me, think the price action is really troubling. >> we've been talking about so many people advocating dividend-paying stocks. yes, they may have been paying 5% but they lost 3%. there were no safe havens. >> you know, the first thing i would say

i'm melissa lee. you are in times square giving way to greed as stocks post the best week of the year. a fail out of spain, rally or time to get in. let's get in the money and find out. what did you make of the market action this week? >> i think no more bad news equals good news with the stocks that are trading at such big discounts for the averages. when you look at the financials whether it's goldman sachs or morgan stanley or the money center, all are trading at discounts and that makes them spring loaded. what's going to happen? there is a lot of potential upside. when they see cheap valuation what they are hoping is that presents opportunity and nobody wants to sell the cheap valuations either in the absence of a good reason to do it. since they didn't have that, that's what we got. >> a market mover here based on the news that potentially there could be a bailout of spain over the weekend. do you think that is founded or are we setting ourselves up for decline on monday? >> the price action is

i'm melissa lee. we'll get to those trades in a moment. we have to talk about the markets, ending with the best single day for stocks. eu summit giving a huge boost. how do you profit from this volatility. let's start off with the best skeptic and that would be dan, always the bear. here the price action was quite good. >> quite giddy. for them to close the quarter on the dead high of the day the way they did 2.5% the s&p, seems slightly artificial, seems slightly window dressing after a bad quarter. so to me i'm skeptical because it did feel a little bit artificial. when i looked up at my screen there were some warning signs. to me a lot of this was macro driven. what i saw was nike because of earnings, ford, jpmorgan. so to me that's the trade we're gaegt lot of color about that. >> i think that's an important point. what was taking stocks up was hope. hope that the euros figured out their problem. hope we're starting to see the bottom in the housing prices. but this is -- we're far from out of the woods. if you see stocks go up on hope

i'm melissa lee. thank you for watching. for more go to our website optionsaction.cnbc.com. careful, pringles are bursting with more flavor. [ crunches ] mmm. [ explosion ] ♪ [ explosion ] [ explosion ] ♪ [ crunches ] [ explosion ] [ crunches ] [ explosion ] [ crunches ] [ explosion ] [ crunches ] [ explosion ] [ explosion ] [ explosion ] [ explosion ] ♪ [ male announcer ] pringles... bursting with more flavor. [ crunch! ]

i'm melissa lee. thank you for watching. for more go to our website optionsaction.cnbc.com.

i'm melissa lee. these are the traders at the nasdaq market site in times square on a busy friday. stocks closing on highs posting the second winning week ahead of sunday's election. the goal is clear. finding strategies that are working amongst this chaos let's get the latest from greece where rallies have died down but the tension is high. no one covered the crisis better than michelle caruso-cabrera on the ground in athens. what's the latest there? >> reporter: there are three key questions for the market. is somebody going to win this election this sunday? remember, we are holding this election because last month the results were inconclusive. too many splinter parties driving the vote apart. the expectation is this time around one of the two leading parties will command enough votes but it's not guaranteed. if we see another inconclusive election that could lead to uncertainty. that would mean another election in another month. greece runs out of cash before the next bailout and the troicha would have nobody to negotiate with. assume that won't happen. if there is an outcome,

. >> i'm melissa lee. two days of gains as quarter end approaches. >> it was a great day. we built on yesterday obviously. we had a real opportunity to go lower today. it obviously didn't. in order to take out this down trend we have been in since the april highs, we need to close above -- let's call it 13.65. as long as we stay above 13.25 for the time being, you can stay long in this market. you know i am not optimistic. i still think the worst is yet to come. the markets would probably work higher until the end of this week. >> here we are in the month of june. we have had a handful of events. we had the greek elections and what has happened. here we are. we are holding on to the gains. now we are the eu summit. this could be a pretty dangerous set up. i think you will want to be cautious as we head into whatever comes out. >> we have the eu summit. we have the decision on health care tomorrow. this will be a head wind to a lot of stocks. costs will go higher. he said home depot. it will probably trade lower if we do see the decision held up. >> one of the reasons that

live from the nasdaq market site, i'm melissa lee. a day in the green. make mo nis take this is a rally on top of a very, very strong gain for the past 11 trading sessions. this is a rally built on the expectation of liquidity. >> and perhaps some resolution or at least they are throwing a lot of stuff against the wall. germany is softening their stance on how they will buy bonds. the greek election took some of the tail risk off the table. so there is quite a few things that are happening that are snowballing here. it has kind of been a stealth rally. i do think he will hipt or open the door and that will start the whole process over. >> the reason i think he can go higher is it was built on terribly oversold conditions. it is ridiculous in a place where i don't think we saw it on some level. the good news is that if you are a technical guy here, you have classic set ups in terms of the head and shoulders that says 1409 is your next level. we are getting a little bit of earnings clarity. fedex which had a tough guidance. at least you are getting some gu

live from the nasdaq markets, i'm melissa lee. we got to get to the markets today. getting back some of the gains made. big story j.p. morgan and the big stock move there. >> that clearly took up a lot of time. there was not a lot of actual news out today in the market to really move things. there were plenty of rumors. everybody is speculating what the greek election is going be. made for good tv but not sure it made for any type of investment. nobody nose what is going on. now we have the moody's downgrade of spain. >> is that a driver in tomorrow's session? >> it's hard to know. i thought a lot of people were concerned about a spanish bail out. means the existing spanish bondholders find themselves -- they are definitely losing priority. >> they are subordinated. >> and putting more pressure on the bonds at a time that it should be helping them. ppi is not something we should be paying a lot of attention to. when you see that deflation on a headline ppi, you don't invest in commodities, especially for all the reasons. it put more pressure on the materials sector

. >> live from the market site, i'll melissa lee. continues to be confusing. there are ways still to make money. in terms of getting to the second half. >> confusing. we have heard this over and over again. i think you have to keep the approach simplistic and remember this. the trend is your friend. in particular, in an environment of uncertainty. whether it be buying or selling, you need fresh capital to break a trend. you are not going to get that fresh capital on the marketplace. look at housing and where the analysts are. one of the reasons that i own lpx is because i believe that the analysts' estimates are too low on housing itself. look at some of the buildings. when you look at analysts' estimates, the price target on those stocks are two to three dollars below where they are trading right now. analysts have to move higher to adjust to where the trend really is. >> we are focused again on u.s. focused companies. to joe's point, we love the builders here. they continue to out-perform. we also think you can look at some of the construction names on pull

watch out below, melissa lee, back to you. >> thank you, rick santelli. k at headquarters. >> reporter: hi, melissa. chesapeake, always volatile, today getting a boost on a report from the financial times that chesapeake is apparently under consideration for a multi-billion dollar asset purchase. sino pec chief food chain was reportedly in oklahoma as part of the company's due diligence to take a stake in chesapeake. back to you. >> thank you, bertha coombs. coming up next, two experts weigh in on big ben and what we can expect this afternoon. is there more stimulus in store? find out right after this. ...with the best math scores. ...the united states would be on that list. in 25th place. let's raise academic standards across the nation. let's get back to the head of the class. let's solve this. >> announcer: cnbc >> announcer: cnbc realtime exchange metrics snapshot sponsored by interactive brokers. >>> interactive brokers professionals gateway to the world's markets. >>> concerns over europe and a weakening u.s. economy two key topics in focus for day t

. >> fast money begins in a few minutes, melissa lee has a preview. >> hi, at the top of the hour, the best 11 day gain for this year. one economist says the fed is going to let down investors tomorrow at it's conference, and then one tech nation says he has seen the stronger buy signals he has seen in a very long time. and then the analyst that downgraded monster beverage saying the energy drink market has peaked, and the trade of the day brought to you by brian kelly, a one stop pick that may bring sunshine to your portfolio. all that and more. >> we'll be there, up next a statement serve waiting for, but will wall street take comfort in the fed's words? three of the top street's top strategist will weigh in, stay with us. [ male announcer ] aggressive styling. a more fuel-efficient turbocharged engine. and a completely redesigned interior. ♪ the 2012 c-class with over 2,000 refinements. it's amazing...inside and out. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. through mercedes-benz recently, students from 31 countries too

. >> i'm melissa lee. let's start trading. the stock rally gets denied. how are we trading? pete early in the session seemed like the euro was giving us a tell. and then the vix surging. >> if you look at the beginning of the day, the vix went under 20 only to accelerate immediately eight minutes later tl trading back above 215. we talked about the huge seller in the july 25 calls. at that point that literally marked the low of the s&p and the high of the volatility in x index. we started to see upside buying in the vix, looking at the june 22, 28 call spread. and then a roll down towards the june 23 call. so what does it tell me? tells me going into this weekend, going into the vote on sunday, people have their nerves on high and they are looking to the volatility index to spark higher. >> people have been so done out of their option pleem yum, especially. this is where options have not protected you on the downside. they may be a great upside call opportunities. but when you look at the markets and the way people are trying to protect themselves, that's not the way to try

live from the nasdaq market site, i'm melissa lee. let's get straight to the market sell-off. brian kelly what did you make of the action? >> i think it was just a huge, huge sentiment shift over the weekend. it really happened friday afternoon. every strategist and his brother and sister was out there talking about the european union. that started to permeate its way through the market. it looked terrible out there. it just got worse. the data has not changed that much. when you get these, it can be very tough in this market. this is an expert's market and not a market to be overly long or short. >> good news is, i think, the market's become tsh sentiment has changed quickly now. people are overwhelmingly bearish once again. if we can hold 12.92, which is a ways away, we are in for another one of these bounces that catches everybody off guard. the s&p has traded text book in terms of technical levels. the next is 1292 on the downside. if we can close them up 12.24, that puts us up towards the upside. >> you are talking about the sentiment and it is best measured by the volati

. >> live in times square, i'm melissa lee. stocks, s&p and dow posting the best day of the year. the big winners. is this a short covering rally or perhaps something bigger. are you a believer? >> i am not a believer. that doesn't mean you couldn't have a 5 or 7% rally, but what happened today is you have in the morning looked like spain might be limping towards a bloud. there might be conditions on that. you have the i don't want to be short ahead of bernanke's speech and you have the market down 10% off the high. a lot of stuff and you will need another shop to get it to a lower price. you might have a couple of weeks maybe into the greek elections and into the meeting like next week that there is hope out there. i would not be putting on the full positions and saying this is a brand-new market. >> you are not a believer either. are we perhaps enough above the 200 day moving average. are you rethinking your position? >> clearly not a believer. the world goes pear-shaped at some point, but we say it all the time. above 1290 which is a level we have talked about. you can stay lon

>> i'm melissa lee. an exclusive with mcdonald's ceo. in the meantime, i always like to say there's a bull market somewhere. >>> i'm jim cramer and welcome to my world. you need to get in the game. they're going to go out of business and they're nuts. they're nuts! they know nothing! i always like to say there's a bull market somewhere. "mad money" -- you can't afford to miss it. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to save you a little money. my job isn't just to entertain but i'm trying to educate and teach. call me at 1-800-743-cnbc. how undervalued are stocks? what if you just looked at the linkage between a stock and the underlying company and then tried to figure out if the stock is simply not worth all that it should be because of the worldwide nonsense that's been keeping a lid on our market. nonsense where we got a rare break from today. nasdaq climbed 0.63%. we got to noodle in on the concept of undervaluation. because it just ain't worth the beating.

. >> i'm melissa lee. thanks so much for watching. back here again at 5:00 for more fast >>> i'm jim cramer. welcome to my world. >> you need to get in the game. >> firms are going to go out of business. he's nuts. they're nuts. they know nothing. >> i always like to say there is a bull market somewhere. >> "mad money." you can't afford to miss it. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. just trying to save you a little money. my job isn't just to entertain but i want to teach you through these difficult days. call me at 800-743-cnbc. have we been down so long it looks up to me? do you know that's become the prevailing wisdom of late on wall street? a key prop the bulls are relying on to stay in the game or keep buying stock. although you couldn't tell from the action today where the dow sank 77 points. s&p lost 7%. s&p gave back a lot of yesterday's gains. time to talk contrarianism. and whether that kind of thinking is working as a strategy. from my perspective, frankly, it's

. >> i'm melissa lee. i will be in chicago money" in chicago for a special trading town hall. >> i'm jim cramer, welcome to my world. >> you need to get in the game! he is nuts, they are nuts they know nothing! i like to say there is a bull market somewhere. "mad money, " you can't afford to miss it hey, i'm cramer. welcome to "mad money" to cramer camp other people want to make friends, i want more days like today. i want to entertain, but i'm teaching today, 1-800-743-cnbc. will the real economy please stand up? is it the economy that's definitely stalling, if not faltering? that's a lousy jobs number. is it the pathetic one that shows manufacturing slowing in may. is it the sad call that the federal reserve is worried that it might find something else to get the recovery back on track? or is it the strong economy? made up of american companies do fabulously, well enough to rally huge today? best day of the year. dow surge 287 points. which is it? as cramer pal eminem would say, please stand up, please s

this morning when i was chatting with david faber and melissa lee on "squawk on the street," we were struck by how we talk about how bad europe is and how it could hurt us and keep talking about for the next year. while we have to focus on it, we can't let it blind us to the next big opportunity. now, i know that europe is totally perilous, i know it is, and i'm not telling you to ignore it. my co-host did get my thinking. what if we had one eye on america last year instead of both eyes on europe, all eyes on europe? could we have made some money? would it have been too hard with the winning stocks too obscure to that one eye to let us see them? it was certainly too obscure if you only looked at the averages as a whole, and i think they do blind you. the s&p made you about 6%, dow about 5%. not chump change, but maybe not rewarding enough to keep you in the game for the next year given how horrid europe is. however, we're not indexers here on "mad money." this is dedicated to the proposition you can beat the averages with your brain. you can score above-average returns by looking aro

. >> i'm melissa lee. thanks so much for watching the special edition of "fast money" live from chicago. thanks to the studio >>> i'm jim cramer. and welcome to my world. you need to get in the game! he'll go out of business. and he's nuts! they're nuts! they know nothing! i like to say there's a bull market somewhere. "mad money." you can't afford to miss it. hey, i'm cramer. welcome to "mad money." other people trying to make friends. i'm not just trying to entertain you but teach. call me. sometimes whether or not you understand this market comes down to when you take a shower, how long it lasts. today we saw a true tug of war between china and europe. with the united states caught right in the middle. ♪ this morning we had terrific gains. dow up 140 points. all thanks to a rate cut announcement from china. [ gong ] just after 7:00 a.m. eastern daylight time. but as the day wore on, worries about europe and our own domestic impotence caused the averages to tumble. although it still finished up 46 points

live from the nasdaq market site in times square i'm melissa lee. straight to the breaking news. we are getting a glimpse of what jamie dimon may say in front of the senate. let's go to sue. >> good evening. we're going through some of the testimony. we gave you some of the headlines earlier saying the trading losses, mr. dimon says in his testimony the cio trading losses sought to offset existing positions referring to + sounds it wasn't subject to the rigorous testing of the cio and wasn't reviewed outside the cio meaning i didn't see them myself. >> that doesn't let him off the hook though. a couple of points. he was saying they will still be solidly profitable. that's good if that's on an operating basis. if it's them taking trading gains from the portfolio against the losses, that's clearly not as good. or a release of reserves, that's not as good. >> it's the quality of the earnings. >> it's definitely saying we'll have to look at it a few weeks down the road. the show, the circus of him going there and him saying, look, we didn't fully understand the model and them sort of

melissa lee at the mass dakota markets with a preview. >> top of the hour.in will give you his best growth trade going into tomorrow. and the following week. and then we are going to take a look at the stocks that you want to own before july 11th as report. we will talk to top ranked health sciences fund manager for the ways he is playing the health care decision ahead of thursday's expected decision. all that and much more top of the hour. >> up next, who would have thought the secondary market for private jets has been surging? wealth editor robert frank will explain next. [ male announcer ] it would be easy for u.s. olympian meb keflezighi to deposit checks at the nearest citibank branch. ♪ like this one. ♪ or this one. ♪ or, maybe this one. ♪ but when it's this easy to use citibank mobile check deposit at home...why would he? ♪ woooo! [ male announcer ] citibank mobile check deposit. easier banking. every step of the way. >>> after a couple of years of cutbacks the corporate jet market may finally be getting lou the turbulence. are friendly skies ahead f

i'm melissa lee. the market taking a nose dive today after weak manufacturing data out of china. the s&p dropping 2.5%. its worst day since june 1st. energy, materials, tech, financials dragging the most here. oil ending the day below $79 a barrel. even gold continuing its plunge. so will the selling continue tomorrow? how are you positioning ahead of the trade tomorrow? >> hey, mel. interesting you said europe. it wouldn't be so bad if it was actually germany. if you're bullish, the market stopped exactly on another number, this 1325 level. guess what? it's a 38.2% retracement of the ranges we talked about yesterday with 61.8. what else you have working for you is the last time we saw downgrades in the bank was basically the low we saw on the market for quite some time. i'm not nearly as optimistic, but i will say there's definitely a chance you could see a relief rally. my level on the stance is still 1292. that's where you have to look in terms of a bull's eye. a couple names have been trying to guide this towards you for a while, specifically caterpillar. the oil market is tr

i'm melissa lee. thanks for watching. see you tomorrow 9:00 a.m. for "squawk on the street." back here again at 5:00 for more "fast money." meantime, don't go >>> i'm jim cramer. welcome to my world. >> you need to get in the game! >> they're nuts! they know nothing! >> i always like to say it's a bull market somewhere. >> "mad money." you can't afford to miss it. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. just trying to save you a little money. my job is not just to entertain. i'm trying to teach here. tonight, time to go worse case scenario. i want to get it out there, because too many people running scared just reacting to the news. they got no game plan. that's producing days like this one where the market got hit for most of the day, before the so-called cooler heads prevailed, and it rebounded into the close. dow ultimately sinking 17 points, s & p inched up .01%, nasdaq rallied 4.6%. investors feared losing all the juicy profits gained in the last eight weeks. remember, they like to take profits, too. people are al

melissa lee with a preview. >> hey, guys. top of the hour, "fast money." all eyes on apple.what they unveiled at the worldwide developers conference 12? we have one top analyst who says apple's days as growth company are over. we have the co-manager of the active bear etf short in the move of may in april. up 19%. we have his top three shorts and we are the head of global qui equities. top three global stock picks right now. all that and much more top of the hour on "fast." see you then. >> what will move your money first thing in the morning? trio of stock pros will give you the inside take next. >> if you are 2350e8g richer these days compared to 2007, you are one of the lucky ones. we will break down the federal reserve's latest report just out today on the net worth of average americans. it is not a pretty sight. ♪ ♪ here we are, me and you ♪ on the road ♪ and we know that it goes on and on ♪ [ female announcer ] you're the boss of your life. in charge of making memories and keeping promises. ask your financial professional how lincoln financial can help you take charge

." >> live from the nasdaq market side in new york city's times square, i'm melissa lee. industrials and materials stocks dragging on the s&p 500 for most of the day as concerns about global growth ramp up. have these names gotten cheap enough or are they going to get cheaper? tim, you dug deep. >> well, you know, we call this kicking the cripple. in other words, if you go after some of these names they've actually -- you know, they can get a whole lot worse. yet these have been your best shorts to this point. the materials sector, you can argue till you're blue in the face, is cheap. but it could get cheaper. a name like freeport i get asked all the time. i do like this company. i do think at these levels it's very interesting. i've put 30 at a stop. if you look at where it is now, it's around 7.2 times b.e. this thing was down 3 1/2 at the trough in the early part of 2009. it can get a whole lot cheaper. now, i will say if you look at it on an ebitda 3.6 versus 3.4 times at its trough. it's very close. the reason it's interesting, they have been deleveraging rapidly ove

. >>> live from the nasdaq market site in new york city's times square i'm melissa lee. reports coming out fast and furious about coordinated central bank action. pushing stocks into a whipsaw rally. steve liesman joins us to break it all down. steve, tell us what we know right now. >> here today there was a story from reuters about 3:05 saying there was going to be coordinated central bank action. that was followed by a series of comments from finance officials suggesting, for example, from japan, that they would act if it was -- if the yen needed action from other countries, for example, from canada, an official saying that the minister there was suggesting that they should act to counter the effects of whatever happens on the greek election. i have skepticism about this story, melissa, because the only central banker who talked is mervyn king. he's talked about there will be additional monetary easing coming from england and for england and only for england. the idea of global coordinated action, melissa, at this moment is not corroborated by any other central bank of

i'm melissa lee along with david faber and jim cramer. karl has a well deserved day off. we're all waiting for the greek elections happen. the pop happened. it lasted for five seconds and we are looking at a lower open, the sdp is looking to lose about six at the open, the dow 55. very similar to what we're seeing in the understanding. we saw the gains quickly fade. so no surprise. the boost from the new democracy victory didn't last long. concerns about the pop you hear party's lingers impact, now spain's borrows costs are spiking as the g-20 meetings in mexico. >> no surprise. last week's rally may be in jeopardy. within 10% of all-time highs. this morning, though, as ufr seen, giving back. >> microsoft is set to make what it calls a major announcement, but the bigger question, could it be a catalyst for the stock. >>> and it's the one-month anniversary of the i p.m. o for facebook. and the controversy about where to lay the blame is as fear as ever. >>> it was seen as a vote on whether greece should remain in the europe aren't. relief over the greek election has given

. >> i'm melissa lee. great to be here in the windy city. let's start trading, promising day early on, but the market losing steam after chairman bernanke dodges the question on qe3 so the question is how are you treating it? peter najarian, give us the first answer here. >> when you look at volatility index the way it's been slammed over the last couple of sessions, down over 20% from the highs on monday. that's a pretty significant move to the downside, and then when you look at what really did perform and held on today, it was the industrial space. look at names like united technologies and boeing and 3m an all the rest of those, kind of leading the way and at least holding on to some of the gains. i think it was age pressive rally early. i think the financials weakening late. that was concerning, for sure, so i think going into tomorrow. obviously you've got to be a bit cautious, but the kind of move that we've had and the fact that we're maintaining where we are right now i think is boosting confidence. >> do you see this as the greates

>> good morning, melissa lee. great article, anna schwartz, one of her last long interviews and it was in the city journal. of course she was the author in the '60s along with milton friedman of a monetary history in the united states which created a bit of a revolution and wasn't accepted in the beginning. the reagan administration grabbed and ran with it. she had a lot of things to say you may not believe. on the first score, let's talk about what she said about alan greenspan. she didn't think he stayed true to being a real monitorist. she used words like fatal co conceit. he wants to avoid recessions at all costs. too easy monetary policy induces people to acquire whatever is the object of desire in a mania period. i think that's very telling. sometimes recessions are good. cleans things out. what did she have to say about ben bernanke? you need background here. ben bernanke was very kind to anna schwartz based on her book and things that happened during the depression he said along the lines of the depression

carl, melissa lee, back to you. >> all right. thank you very much.m bertha coombs. >> simon, to continue the monty python theme, something different. monsanto shares rallying after top and bottom line, $4.2 billion driven by strong sales of corn. if you take a look at corn these days, corn strong. corn futures up about 18% this month. they expect next year they will see 5 to 13%, 10% increase in corn seed pricing. back to you. >> thank you, bertha. up next on the program, one of facebook's first five employees. now of course in venture capital, he's going to speak out about his time during the company and the very first days when he met mark zuckerberg and how he's helping other internet entrepreneurs. where you should head as an investor. >>> >>> eight years ago four students sat in a harvard dorm room and created the biggest social media company in the world. today there are more than 3500 employees at facebook. matt, one of the first five employees hired at facebook. matt, great to have you with us. we're just discussing how you got to facebook. y

i'm melissa lee. carl has made his way out to san francisco. he is at the apple worldwide developer's conference where there is a lot of buzz surrou surrounding the world's most valuable company. >> for 30 years this is where apple has chosen to introduce new technology. this conference has become known as a play to introduce some hardware. the very first iphone a few years ago. when tim cook takes the stage today at 1:00 p.m. your time on the east coast, what's the headline? is it a new mobile operating system? a new siri? more clarity on apple tv? >> futures react to the best week in stocks. the dow looking at about 99 points. take a look at europe. we saw the spanish stock market surge. giving back some of the games as the morning has gone on. the bailout rally. as investors realize they won't solve the banking problem or remove the uncertainty of the elections. >> a tighter relationship with facebook. we're on the ground with investors and analysts. >> and where in the world was bob? reports surfacing that he was on a plane as the exchange

i'm melissa lee along with carl quintanilla, david lee. we'll have s&p's david blitzer to take us through the numbers in a few minutes. let's get you caught up on where futures stand the day after a big selloff. dow jones looking to add, as for europe a disappointing auction, rising borrowing costs, spain and italy, but red arrows across the board. >> roadmap starts with the market selloff. dow is down three out of four days. s&p flirting with going negative for the month. meantime the borrowing cost in spain spain have doubled, even tripled as euro leaders get gear up for the summit. >>> goldman getting more bullish on jpmorgan, cutting morgan stanley down to a neutral, jpm shares are trading higher pre market. >>> news corp. may be splitting into two. could this free the company to make a run at bskyb. >>> facebook names coo cheryl sanberg to its board amid complaints that the board lax diversity. this comes just a day before they say underwriter firms are free to initiative coverage. meantime stocks in general will try to bounce back fr

. >> nice having new chicago, melissa lee. >> thank you, rick. >> interesting chat we're listening to hear. your thesis is that today will get you yet another opportunity to live it, to graduate from some sectors into another. >> yes. >> out of -- >> well, want to congratulate melissa for really pushing this idea of taking gains and the stuff that people bottomed and fishing it. those people are now up huge in these financials. put buying and that makes some sense. in the terms of it's going to miss the porter, j and j will not miss the quarter. verizon will not miss the quarter. we won't get out of the stuff that you have big profits from in the last three days, carl, and you go back to what is selling off and you're going to make a lot of money and save a lot of money i'm calling for melissa's view that these are up. >> the take away from that is that even if there is move if we have a comprehensive plan, china is cutting rates and that's terrific particular. carl nrk three weeks we're going to have earnings and you and i are going to be it siing here saying, wow, that is disappoint

i'm carl quintanilla with melissa lee, david faber at the new york stock exchange. take a look at the futures. this is the weekend we've all been waiting for. the greek elections, potentially the answer to a question that until now has been largely academic. that is can the eurozone with stand the departure of one of its members? a lot pivoting on headlines we got yesterday, melissa. >> no surprise. our road map today starts with the rally. a 118 point swing in the last hour of trade, the biggest in a month. volume has claimed for four straight sessions. how much of this is for real? >> and what about those headlines about central banks being on stand by if greece implode these weekend? are they to be trusted? spanish yields are down and now close to 7%. >> and microsoft bills a major announcement. could it make some strides in the war against apple? >> men time, future is on the rise after yesterday's rally on hopes that global central banks stand ready to act this weekend if the greek results speculation turnover sparks a big jump in the dow and the final hour of

i'm carl quintanilla with melissa lee, jim cramer, david faber live at the new york stock exchange.arkets settling in. it's going to be a big week on both the domestic and international fronts. right now tacking on a little more losses after a down week last week, the first down week for the dow in about three. as for europe, worries continue regarding the eu summit which we'll talk a little bit about in a moment. >> the supreme court, a decision on the affordable care act, also known as obamacare, could hit in an hour's time. the stakes are high for the obama administration, the elections, health care companies as well as corporate america. >> market seems skeptical this week's eu summit will amount to much. german officials knocking down the idea of eurozone debt as long as individual states decide on government spending. >> and what was behind the botched facebook ipo? well, overconfidence and arrogance on the part of nasdaq staffers. that's what the nasdaq ceo says. shares of facebook, just about five bucks away from the ipo price. >>> a decision could come as early as today on

i'm carl quintanilla, melissa lee and david faber at the nyse. cramer is off today.ake a look at futures. we're looking at a massive rally on the back of this eu summit which depending on your point of view had some results, definitely above most people's expectations. we'll see how long this lasts but it's looking like the dow could close positive for june, the first time it's been up for that month since 2004. europe also a massive rally under way as well. euro, huge gain, crude commodities, we'll talk about all that later this morning. >> no surprise starts with the rally in the premarket here, fueled by developments out of the eu summit. leaders agree to direct recapitalization of banks. but is this a rally to fade? >> signs of a slowdown. ford warning of outside international losses. nike posting a big earnings miss. talking about speed bumps in china. is this a taste of what's to come this earnings season? >> and the clock may be ticking for research in motion. how much time does the company have to do those options? >> as we mentioned, stocks set to open sharp

i'm carl quintanilla, along with melissa lee, david faber, jim cramer at the nyse.wo day roller coaster. triple digit losses monday. guided back tuesday. dow at its highest level since may. europe inches toward this weekend's greek elections. a lot more on what yields are doing over there in a moment. >>> our road map starts on capitol hill. all eyes on dimon. will this hearing lay the groundwork for tightening of the volcker rule and a tougher regulatory environment for banks across the board? >> cramer says the market is one big rumor mill. we are going to travel to cramerica for some answers. >>> not lovining it. >> business news on the web is about to change thanks to us. cnbc forging a strategic alliance with yahoo! finance. we will be the premiere content provider for the yahoo! finance network. >>> first, jp morgan chase ceo jamie dimon set to testify in about an hour from now. his testimony comes exactly two months to the day that dimon called concerns about the bank's trading a tempest in a teapot. in his prepared remarks dimon says traders in jpmorgan's ch

i'm melissa lee with jim cramer and david faber live from the new york stock exchange. carl quintanilla is off this morning. a look at the futures the day after the big fomc meet ing. jobless claims this morning coming in a little higher than expected. still a lot of data to come. maybe we're in wait and see mode here. existing home sales, philly fed coming up at 10:00. dow looking at 15 points here at the open. europe, all eyes focused on that spanish bond auction. spain managed to sell a little bit more than had been anticipated in terms of the amount of bonds issued. but in terms of the borrowing costs, that was, in fact, higher. looks like green arrows pretty much across the board. >>> the expansion of operation twist left markets largely unchanged yesterday. should you be a believer in this rally? >>> oil. well, is that sounding the alarm? crude dipping below $80 this morning for the first time in eight months on the fed's sharply reduced growth forecast and weaker china pmi this morning as well. >>> two big earnings movers this morning to the downside. red hat mis

that was rejected because of filing disclosed the firm as melissa pointed out took a small 3%er in lee enterprises. it's the latest investment they made in the europe business earlier taking up 17% stake in media general, a publisher and buying his hometown's world herald. they own the buffalo news and long held the stake in the "washington post." buffett said the newspaper business doesn't have a bright future and calls it terrible, but he sees value in smaller papers with news and advertising for those who can't get it elsewhere. he thinks they need to start change figure they have thats part of the staple. . >> also interesting to hear people investing in a business that is terrible on a fundamental basis. >> these newspapers have a monopoly on the product. the only place you can get the hometown news. if they cover a story about the war, anybody can get it anywhere. >> my favorite is the mood ring. i'm not sure how you get that. >> if you think it's an archaic way of investing, i think it's a touch of no staj -- nostalgia. it's more of that versus a business. >> like buying lemonad

. >> sometimes melissa even gets the twins involved in the show by dressing them up. she has her very own kathie lee. >> we had to give this to her. >> the resemblance is uncanny. congratulations, melissa. we are sending you to the bahamas. >> oh, nice. >> you and a guest will enjoy a fournight stay on the grand bahama resort on grand bahama island. round trip airfare for two. hotel and airfare were provided by the bahamas ministry of tourism and grand lucayan resort. >> we had a such wonderful time when we were there. the people are so fun. take a little extra cash because food is a little expensive. it is pricey. >> but a lot of fun. >> she's got that $100 gift certificate so she -- >> she's got a meal. >> breakfast. >> that's a slab of bacon. >>> if you think you should be our "fan of the week," go to klgandhoda.com and let us know. >> still ahead, we've got a special three-part series to help you make money from home. >> and today we begin with the junk gypsies. >> they are so cute. >> adorable. they're going to teach us how to turn our trash into treasure. >> only 53 days to go. we're going to

sometimes melissa even gets the twins involved in the show by dressing them up. she has her very own kathie leetrip airfare for two. hotel and airfare were provides by the bahamas ministry of tourism. >> we had a such wonderful bh we were there. people are so fun. take a little extra cash because food is a little expensive. it is pricey. >> but a lot of fun. >> she's got that $100 gift certificate so she -- >> she's got a meal. >> that's a slab of bacon. >>> if you think you should be our "fan of the week," go to klgandhoda.com and let us know. >>> we've got a special three-part series to help you make money from home. >>> today we begin wts junk gypsies. they'll teach us how to turn our trash into treasure. >>> we'll tell you about great travel ideas to get to london for the olympics. >>> and then meet the newest real housewives of new york city. they are in the house. wonder what ts going to be like. >>> all after your local news. about activia. g i've been eating activia and i feel great! i'm used to having irregularity. i feel like that's normal. if you are not feeling like trying this on,