live from the nasdaq site i'm melissa lee. who says friday the 13th is an unlucky date. helping stocks post the best date in jewel. a huge week of earnings coming up. do you believe in this rally? of course, we saw a 200-point move in the dow, a big one, but it was on light volume. should we discount it? >> yes, i think we should absolutely discount it. i think we should discount that, discount jpmorgan's earnings which i think is pretty malleable. i have a rhetorical question. what do you think it would have been if there was no warning? i mean what a joke. as far as the strls are concerned? look. caterpillar is down. meanwhile the stocks that are going up are all the defensive names. this is where people run and hide. so is this really a great rally because those are the stocks that have really been holding the options up? no way. >> smart investors realize what mike is talking about. the stocks that were up today, all-time highs. walmart, kimberly-clark, general mills is near all-time highs. these are toilet paper and cereal stocks. that's what's in the bull market ri

live from the nasdaq market site in new york city's time square, i'm melissa lee. traders here in times square. we'll get to trades in a moment. but first the markets, the first half ending with the best single day of the year for stocks and the best june since 1999. e.u. summit giving a huge boost to banks and technology. how do you profit from the volatility? let's get into the money right now. let's start with dan. always the bear, dan. but here the price action was quite good. >> quite giddy in a lot of ways. to close up 2.5% on the s & p, seems slightly artificial and window dressing on what was a pretty bad quarter overall, after getting out of the gates in q1. i'm a bit skeptical. it felt a little bit artificial. when i looked at the screen, there were warning signs. a lot of this was macro driven. the things i saw in the red were nike because earnings, ford because of earnings, to me, that's the leg of the trade. we'll get a lot of color as we enter the q2 earnings period. >> what was taking stocks up, a lot of hope. hope that euro has figured out their pro

. >> i'm melissa lee. these are traders here in typewriter. reports of potential ecb action sending stocks into a tizzy. the dow rally over 450 points in just three days. that's the best stretch the year. short covering more of the start of a bigger rally. this of course comes in spite of tepid earnings, common story for this earnings season is it beat or a meet on the eps line and a miss on the revenue line? >> first of all the revenue line basically lines up very well with the gdp numbers we see. so you have to try to look for kissing cousins. people have long said you don't fight the fed. you can't fight the fed and the ecb. that's what the shorts realized. that's what's going on here. if you try to buy stocks on a global macro economic thesis the evidence is not there for you. of course what will do you if you have central banks around the world creating this put. that's what's driving it higher. >> the incredible thing about the energy bank policy buying to me is in 2007 and 2008 policymakers didn't want it to go down but it did because t

i'm melissa lee with jim cramer and david faber live from the new york stock exchange. rl quintanilla is in london covering the london. what a weekend of action we saw. >> unbelievable weekend, melissa. today's the first full week -- this is the first weekday of competition. olympic park, full of spectators for the first time during this we'll talk later in the hour about some of the key events over the weekend. obviously big success in men's basketball. some mixed success in men's swimming. we'll meet a member of usa's water polo team who's going to work for goldman in the fall. and we'll talk to ge which announced this morning $1 billion in infrastructure sales to olympic cities since torino. and as the olympics become even more focused on emerging market countries, is there a better emerging market play in ge stock? that's coming up later on. >> you see soon, carl. take a look at the u.s. futures here. and we are looking to open lower here on the dow. down about 13 points. keep in mind, on friday, we closed above 13,000 for the first time since may 7th. looks like we

live from the nasdaq market site in new york city's time square, i'm melissa lee. we will get to the trades in just a second. reports of ecb action sending stocks into a tizzy. dow rlying 450 points in three days. that's the best stretch of the year. short recovery or the start of a bigger rally? let's go to the money and find out right now. this in spite of tepid earnings. the common story, beat or meat on the eps line and a miss on the revenue line. mike, what do you make of the move? >> first of all, revenue line lines up very well with the gdp numbers. look for kissing cousins, that's it. people have long said, you can't fight the fed and the ecb, that's what the shorts realized and decided to cover. and that's what is going on here. you know, if you are trying to buy stocks on a global macro economic thesis, what will you do when have you central banks creating a put, essentially that anybody buys financial risk assets and that's driving it higher. >> the incredible thing about this, policymakers didn't want the market to go down 50%, 60% across the world, but

live from the nasdaq narcotic site, the world's largest exity exchange, i'm melissa lee. we'll get to the trades in a moment. whacking stocks today, tech and industrials among laggards. the action more about the u.s. economy or the turmoil in europe? let's go the money right now. the stocks are down about 2:00 where there was a wall street journal headline that qe 3 was still on the table by the fed. >> i would say the interesting thing that i saw today if we look at text stocks. that immediately had an impact on vmc and sales force.com. a company focused on the cloud reported that europe is week, and that immediately had an impact. stocks started going lower on the back of this. we have seen the story before on the global recession fears. we saw cat tractor talk about china being weak. we saw proctor & gamble. i see a potential global recessionnary scenario that the market seems too complacent. >> we saw the earnings. >> we saw negative activity on cat and alcoa. is the bar set too high as we go into earrings season as we start with alcoa. >> we will certainly see some l

. >> live from the nasdaq market site, i'm melissa lee. these are the traders here in times square. let's begin with the market. was the action more about the u.s. economy or the turmoil in europe? as we notice, the stocks really down about 2:00 when there was a wall street journal headline that qe3 was still on the table by the fed. >> yeah. so i would say the biggest interesting thing that i saw today was more european global weakness. so if we look at tech stocks, folks, a 3.5 billion software company focused on the cloud, it reported europe is weak and that immediately had an impact. stocks started going lower on the top of that. we've seen this story before. we saw china being week, nike talking about emerging markets and we saw procter & gamble. i see a potential global recessionary scenario. >> and we heard from ford, we saw earnings estimates come down on cat and alcoa. is the bar set too high as we head into earnings seasons which starts on monday with alcoa? >> we may see slowdown on alcoa. we did see a synthetic put buy into january '13. a lot of negative activity in the

i'm melissa lee with jim cramer and david faber.utures falling despite jobless claims posting the biggest drop. dow and s&p 500 are in the mid-of a five session losing streak. right now we're looking to lose 75 on the dow, nine on the s&p 500. as for the picture in europe, we're seeing red arrows across the board with ftse down the most, down 1%. let's get to our road map for this morning and we start off with questions about whether or not there's another round of easing. risk assets lower around the world. euro break below 1.22. oil trading lower. all ahead of the release of china gdp overnight. >>> warren buffett is seeing signs of a slow down too. no surprise. cnbc exclusive the legendary investor who runs berkshire hathaway says in the past two months the economy has been flat although a pickup in housing. >> shares of supervalu in a free fall. is withdrawing it's forecast for the year, suspending its dividend and considering selling all or parts of the company. is this the latest victim of walmart and dollar stores? we have to

. >> live from the nasdaq market site, i'm melissa lee. let's get straight to the big ceo shocker. melissa meyer heading over to yahoo!. he joins us now with the very latest. >> hey, there. this is big news. rarissa meyer. was expected to become the coo. was the person that most analysts had anticipated. obviously a huge name in the valley. an iconic figure. kboogle images and google maps. she has touched all of that. there is a real sense that she will help try to reinvigorate yahoo!. that will be a big challenge and a big question. >> it's karen. clearly this is a trophy hire for them. was there a broader search or was it only her that was the dream candidate and it fell into her lap? >> there had been a much broader search. they did talk to her back starting in june. her name never leaked out, surprisingly, and this was somebody who was at the top of their list. the real idea more than anything else, trying to re-invigorate the company and bring talent to the company. she can engineer herself and hopefully she will be able to reinvigorate the company and bring the technology back

. >> live in new york city's time square, i'm melissa lee. is the qe question the main one for stocks? what was behind the turn around? i had a bunch of over the day orders. as soon as he stopped talking, they ratcheted them up, just get them in. don't spread them out over the course of the day. i think it's a lot of shorts worried what the next shoe to drop is. >> he said it's basically so bad and getting worse i think the markets held pretty well from a technical level. i don't think we have a lot more of an upside. >> the economy is not moving the way the fed thinks is sustainable. i agree. steve is in place september. there are levels that traders are following. supposed to be a wrecking ball that is taking out a lot of the risk assets. look at the the dollar and other risk indicators that are very supportive that this market could go higher. >> just to be precise. you want to keep an eye on that. we breakthrough the level. on the way down you want to look at the 50 day. we started to flirt with it a little bit today. and the shorts we ar

. >> live from the nasdaq market silt in new york city's time square, i'm melissa lee. >> why not? aren't you ready? >> i am born ready. >> i think today gave something to bulls and bears. you closed 14.41. what does that mean? 14.22 was the recent high we saw back in may. this is effectively the 50% retracement. we're definitely not staying here. i'm more on the negative fence but i tell you what if the market can close at the 13.50 level then we will probably push through the 13.66 level. yesterday, i don't know if you mentioned on the show, yesterday we had an outside day to the downside. >> we did have a lot of action in the markets. >> we have got the cha seung baek cha. ultimately held key levels. the 15 and the 20. got a bow tie. >> that is coming up now. >> more importantly, we have got a lot today but i don't know what we have got. in fact, what we did get was starting out the day. pushes a lot of that down the road. the fed minutes are very important. give me weakness, therefore give me strength. that is not what most want to deal with. that was the move today. otherwise

." >> live from times square, i'm melissa lee. we are seeing a huge decline in shares of zynga and along with it, facebook. zynga down 39%. it was a huge miss for their quarter. a one sent profit. a $44 million miss on revenues. the story here, surge in cost. >> two people and then big competition from other people in the space. they are not the only game maker. and others that are out there doing much better work, apparently, than what the guys and gals are doing. i think they will be very challenged. and like i say, big read through into facebook tomorrow as well. >> 24 hours we will be dealing with the facebook results. reported as a pubically traded company. this is what zyga said. a decline due to a more challenging environment on facebook. also trade lower right now down by about eight and a half%. this stock, zynga, is trading at $3. this ipoed at ten bucks a share. >> i am shocked. shocked that people do not -- are weaning in their interest in virtual farm animals. they continuely have to come up with the next best game. t

i'm melissa lee. here are the stories. earnings central. reports are coming fast and furious. monitoring all the after haurs action. betting on america. and delivering alpha, our star studded investor event. and in this show, the persian square. we will bring you all the latest from the market moving conference straight ahead. if you take a look at the after hours session. getting clobbered after a sharp decline. this is what we heard from a lot of the others. >> rsh a big miss on the revenue side. one quarter could make such a huge change for these guys because their numbers are so relatively small given the competition. big shorting in this age. while we're mentioning financials. if you didn't mention u.s. bank corps which not there are things that are doing extraordinarily well. i think the most safety is usb. >> bill had mentioned that he had sold his position in order to fund his position. >> i don't know that he ever had a big pound the table position. everyone seems to have one in proctor and gamble. >> i think it was fantastic. i was surprised how much it traded down.

i'm melissa lee. see you tomorrow 9:00 a.m. "squawk on the street" back live. "mad money "with jim cramer starts right now. >>> i'm jim cramer and welcome to my world. you need to get in the game. those firms are 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 is not just to entertain you. but i'm also trying to educate and to teach. call me at 1-800-743-cnbc. look, i feel it. fell felt it all day. i know it's timting. you throw up your hands and say who cares about stocks? they're corrupt. they're controlled by greedy rich people. today's action, a little break. decent. but rallies have become a few and far between exercise. we were down 6 of the last 7 days coming in. the last seven straight mondays. who the heck needs any of this? turn it off. one big waste of thought. that is the prev

melissa lee with a preview. >>> an exclusive interview with activist investor carl icahn.rget right now we'll talk about what his plans are for chesapeake. and then a second half playbook from nat gas, oilg a and grains. all that and much more top of the hour on fast. >>> can't wait. >> that's coming up. but before that, what will move your money first thing tomorrow morning? our trio of wall street's leading strategists tell us what's on their radar. >>> and a new study shows that children who spend more time in the whom haomb have higher test scores. stay with us. ♪ ♪ ♪ [ male announcer ] not everything powerful has to guzzle fuel. the 2012 e-class bluetec from mercedes-benz. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. for exceptional offers this is new york state. we built the first railway, the first trade route to the west, the greatest empires. then, some said, we lost our edge. well today, there's a new new york state. one that's working to attract businesses and create jobs. a place where innovation meet

melissa lee, jim, back to you. >> thank you, rick santelli.another concern here in the market, some of these medicaid insurers, especially after the wellpoint/amerigroup deal. goldman sachs saying they expect more consolidation in the industry in order to get at this dual-eligible market, those who are eligible for medicaid as well as medicare, and they're saying these medicaid insurers have the best chances but you need deep pockets in order to do that, and that will push them to link up with bigger insurers out there. there are price targets on sentine as well as molina. we saw those both rise in the back of that deal. today they are up once again on this goldman note. >> they have become great traders. it's so funny, these are the big movers. these have historically been just companies that kind of went up over time. i think that people also have to remember, these are employment plays. a lot of these companies need growth. >> that's true. >> in employment in order to give a sustained pattern, not just the medical loss ratio and not just th

. >> i'm melissa lee. see you at 59 a.m. welcome to my world. >> you need to get in the game. >> firms are going to go out of business, and he's 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. just trying to make you a little money. my job isn't just to entertain but to educate and to coach. call me at 1-800-743-cnbc. tonight's show is devoted to helping you cramericans avoid some of the most common and money-losing mistakes that investors continue to make. and recognizing misinformation when you see it. the best way to do it is with discipline. [ applause ] tonight i'm laying out these rules. to help make money in what can be a bewilderring, confusing and infuriating, certainly irritating market. if you follow my rules you should be able to recognize an opportunity when you see it and manage to avoid losing money when you don't have

." >>> live from new york time's square it's sat -- no i'm in for melissa lee. we have revenue margins all beating street estimates. let us start with google. click add revenue was up more than expect td. >> i think that is a story when you look at play clicks. i think google was priced as it just needed it in line. we knew going in 30% of the revenue is coming from europe, the middle east and africa. that was going to be problematic. all they needed to do was give folks an in line. it is not the type of stock that this year has been aggressively owned in terms of performance. folks really are not overloaded long on this name. it is a name that i think has further upside potential. >> is the google today the google of two or three years ago in terms of opportunity? >> no. it is not. i think people are coming around to that. that is why the stock is down 7% this year. still a great company. still great focus in the areas where they make money but they are so splintered that it makes some of us pause and it is why we are not as aggressive with the name. these were

." >>> live from the nasdaq markets out of new york city's times square, i'm melissa lee. stalks falling for the sixth straight session. health care utilities and staples holding on to gains. in fact, if you look at stocks close to 52-week highs, merck, wal-mart, target, cbs, clorox. joe, where did you go today? >> it continues to be the wal-mart market. if you look where treasury yields are, it's unable. why? when looking at nontaxable, fixed incomes. eventually what you have to see is equities, the flows of capital return to equities themselves. tonight we're going to get the china gdp. we're going to talk later about what i think the outcome of the financials from jpmorgan will be. i'm surprised that the market is where it is given all the negative news we are greeted with every day. i think we should be lower. >> lower? >> i think we should be lower. i think the market has held in there incredibly well. >> i mean, we say six straight sessions of losses. really, the past couple days have been virtually unchanged. >> so levels have held up pretty well. i mean, 1325, a le

melissa lee with a preview. >> hi there.the hour, we are talking about the cold collapse of the legendary investor. why he says the industry now may be in a secular decline. we have the latest procter & gamble. why one analyst out there says that ackman's may not the midas touch needed for the stock. we will look ahead to intel earnings. tradelers give thank you trade ahead of the big report. all that and much more at the top of the hour. >> heavy lineup of earnings and economic reports. rip out of the gate tomorrow morning. we will be all over it tonight. reserve chief ben bernanke speaking about the economy on capitol hill. three of wall street's top strategists will join me telling us how their view. ll beyond investment advice and research analysis. it includes proprietary offerings like our eldercare program, which helps provide for those who came before you. and our financial empowerment program, which helps prepare those who come next. resources like these have made us the number-one trust company. that's why generati

." >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. what we're seeing in the after hours session, a disaster for the most heavily traded ipo in history. facebook plunging to an all-time low. the stock is down 8.5%. we're waiting for the conference ta call to start. it is moments away. two key points here. as for a the quarter, joe, what do you make of it? >> i think there's two important questions that fundamentally when you look at the stock you have to ask yourself. number one, are they experiencing fatigue? i truly think they are. ast it's an all-in-one product. when you compare them to what others may do on linkedin, it really boils down to needing to go on the platform or wanting to go on the platform. in the case of facebook, you just want to go on the platform. they're experiencing fatigue. for the call, you have to hear how potentially they're going to be able to monetize mobile. that's the one fundamental element that potentially gets facebook off the trough. >> this is a number that is staggering, the rising cost number. $1.

." >>> live from the nasdaq markets in new york's times square, i'm melissa lee. seagate dropping. you see the steep decline in the afterhours. it's also taking shares down with it. wdc is also trending lowerer in the after hours session. what do you make of this news? >> i think when you look at seagate right here, you're going to get a pull back. seagate's had a decent year so far. 200-day moving average. there's your point of reference. talking about where gross margins are going to be at the end of the year, they're still talking about 30% gross margin growth here. so on the pull back, i think you let the stocks stabilize over the next couple of days. it potentially is an excellent point of entry. >> one of the reasons they cited behind the reduced guidance is behind an isolated supplier quality issue that affected one of the enterprise product lines. perhaps that's one of the reasons why it's not being taken down as much as seagate. at the same time, the ceo says base on the macroeconomic environment, they're approaching the quarter conservatively. what are the ramifications f

i'm melissa lee with jim cramer.arl, a lot of nail-bit biters in that pool last night. >> yeah, amazing coverage last night. good morning shaping up here. if you like a few clouds. we have had some light rain. overcast conditions today. we're hoping that things can dry out for beach volleyball where they do play no matter where there's lightning or otherwise, unsafe conditions. couple of clouds over the games. more twittcontroversy over twit. more controversy over the empty seats. you might have seen on some of that coverage. we meet some greek fans who have made their way here to the games. talking about the euro and how they're being received. >>> you guys are going to talk some coach. we're going to talk about omember, the official time keeper at the game. demand at the high end in china. because coach is getting walloped today. we'll see you guys in the few. >> interesting to see if omega is like the coaches of the world. >> very important. people think that michael kors may be the winner on coach. it's hit or mi

>> thank you, melissa lee.at the university of michigan, we have a preliminary read and a final read. i mix my metaphors. i want to make something clear. only final reads, 72.3 is the lowest read for 2012. you have to go back to december of last year to find a lower read if you don't, of course, include the preliminaries mid month. back to you. >> thank you very much, rick santelli. >>> now let's take a quick check on shares of facebook after the social network reported drastic slowdown in revenue growth in its inaugural earnings release. the stock this morning plunging to fresh record lows. $22.91 where it's trading right now. down by 14.5%. michael pactor maintains an outperform rating on the stock but lowered the price target to $35 a share from $44 a share. michael, great to have you with us. >> thanks, melissa. >> in terms of the question of monetizing mobile, did you get a sufficient answer from the conference call? did you get a clear path as to how this company is going to do that and by when? >> yeah,

i'm melissa lee with carl quintanilla and david faber.et's look at futures of what will be an abbreviated trading session. equity markets close at 1:00. we are looking at a lower open, at least at this point. the dow looking to lose nine at the open. as for europe, stocks risiing o hopes of easing. across the board, green arrows so far. >> our road map this morning with barclays. bob diamond steps down at ceo succumbing to the mounting pressure and now the coo may resign, as well. how far is this investigation going to go? >> it is the calm before the storm today with the markets quiet ahead of auto sales this morning. jobs report friday. oil bouncing with brent back above 100 bucks a barrel. >> a quarterly loss for microsoft. writes down almost the entire price of acquisition. will the catalyst of windows 8 and the surface offset the strategy miss? >> friends again? facebook and general motors meets again. is this a start of reconciliation or a new account between the two? >> barclays the big story this morning. bob diamond stepped down.

>> hi, melissa lee.he markets can pretty much tell us what they think of the current data points this morning. if we look at ten-year note yields, they're down a bit. but it isn't only here. as you've pointed out and peter boockvar wrote so eloquently as expressed by the next chart, we're at a two-year low on that euro versus the dollar. haven't been here since the summer of 2010. we have that teeter-totter effect with the euro currency when they're underperforming. we're tethering that type of relationship. but if you really want to get a different type of view, consider the ten-year here and the bund overseas. their flight to safety which was underperforming for a bit. bund yields were biased to be moving higher. not the case anymore. as a matter of fact, we've widened out that spread in our favor. it's over 20 basis points now. and we want to pay attention to that. i think investors down in this trading floor really, really can relate to the guest that we just had on. it seems as though the political

i'm melissa lee with jim cramer and david faber live from the new york stock exchange.arl quintanilla is off this morning. welcome back, guys. >> thank you. >> take a look at futures and how we're setting up after the worst friday since june 25th. we are looking at a lower open for the s&p and the dow. the nasdaq looking to eke out a gain here. our roadmap starts off with the markets. it was one of the worst weekly percent declines for the s&p and dow since june 22 pd. europe remains in focus, finance ministers meet in brussels. japan machinery orders dropped 15%. and chinese's premier warns of downward pressure on the economy. >> and earnings season starts today. we've seen estimates for the quarter get slashed ahead of the report. what will aa say about global dae demand, especially with questions out there about europe and china smchlt ] >>> and wellpoint buys amerigroup for $4.5 billion in cash as it looks to expand in the area that will see growth under the health care overall plan that was uphold. >>> after friday's 124-point drop in the dow due to a weaker-than-e

melissa lee, back to you. >> thank you. let's get more reaction to the new home sales data.gress, they've decided, apparently, that they're not going to let this bill past. despite the fact that 98% of americans make $250,000 a year or less, they've decided to hold middle class tax cuts hostage until we also agree to spend another $1 trillion on tax breaks for millionaires and billionaires. governor romney doesn't just approve of this strategy, he wants to import this into the white house. >> meanwhile, the president's campaign seems to be in a full defensive crouch, as the romney campaign tries to use the president's own comments about building businesses to try to drive a wedge between him and small business owners. here's more of the president in portland last night. >> keep in mind, in politics, you have to endure a certain amount of spin. that's -- everybody does it, i understand that. those are the games that are played in campaigns. although i have to say, when people omit entire sentences from a speech and they start splicing and dicing, they may have tipped a little

melissa lee, back to you. >> thank you.et more reaction to the new home sales data. >> we have been hearing a lot of talk about demand being pulled forward. when we look at this other. not closing. these are folks who walked in in june. we are not looking that far back up. prices are actually down from 242,000. how much? >> a lot of new construction competes directly with the distress market because some is relatively new construction. it's far better than the existing. the builders have been very bullish of late. this will be a wake up call as we head forward into the fall and see where the numbers go. >> thanks a lot. reality check for the home builders. more than 2% declines right now. in the meantime, let's get to the road map. should you be buying on the dip, we have a shareholder. >> and aol reporting a strong gain in income. there was just a sign of encouraging things to come. sources down with aol ceo we will sit down with the ceo in just a few. . >> making headlines. after calling for a break up of the big banks. w

i'm carl quintanilla with melissa lee, jim cramer and david faber live at the new york stock exchange. friday the 13th ended up being pretty good for the bulls, both the dow and the s&p rallying to snap that six-day losing streak. take a look at the futures. setting up for a lot of earnings over the next five sessions. bernanke on the hill both tuesday and wednesday. as for europe, dealing with a lot of news involving libor over the weekend, which we'll talk about. for now, all the major indices modestly in the red. >> our roadmap starts with the first big bang to report its earnings. citigroup beating estimates. . >> morgan stanley downgrades general electric to equal weight saying the key reasons to buy the stock are more of a 2013 story. the industrial giant post earnings this friday. >> is more china stimulus on the way? comments from chinese leaders over the weekend may hold the fate of u.s. companies warning of weakness. >> and nokia cuts the price of its flagship smartphone in half just three months after the launch. but can the lumia 300 keep apple and samsung from stealing ev

. >> good morning, melissa lee. as bankers jockey around rates and i'm not talking about barclay's.bankers playing with rates. whether you look at the uk, ecb, little things going on. that reserve 25 basis points ecb took away. the rumble down here is maybe the hedge fund financing will be less than yesterday. that could be part of the reason you are seei ining markets move. 24-hour charts of the fixed income market have been stalwart since insolvency will keep things weak. and the 24-hour chart of the german tens, the uk tens and they are all basically the same. yeah, there was volatility, but not much movement net-net. a couple basis points lower. the next chart is where you see the action. of course ecb's moves are doing the same thing the fed moves did to the dollar. their currency weakens. you can see we are just a nick away from levels we have seen this year about a month ago. beyond that these could be the lowest levels since 2010 if this continues. it's still a 123 handle. it's not horrible. hey, we're paying less for our commodities and they will pay more in europe. carl, b

i am melissa lee with jim cramer and david faber live from the new york stock exchange. the dow and s&p trying to avoid a seven-day losing streak. the s&p is looking three at the open and the dow 24. as for europe the moody's down grade on italy by two notches is having somewhat of an impact on the italian market but green arrows for london, france, as well as germany. we start the road map with j.p. morgan and restating their first quarter results in a number, 4.4 billion pretax for the trading loss and ceo jamie dimon put the whale issue behind the company. david has been on the call and has the latest. >> that continues by the way and the sixth straight day of losses as well talking about something continuing for the markets. may come to an end thanks in part to china gdp and keeps hopes of further stimulus alive and italy a two-notch down grade from moody's over night. >> and speculation about an amazon smartphone intense fiez. one analyst says don't bother given the costs and tough competition from apple. more on that in a bit. >> for the second quarter, of course,

i'm melissa lee along with carl, jim cramer and david faber live from the new york stock exchange and looks like we could be on our way to some gains today. we were down seven out of past eight sessions, but right now, looking at the 35. we're on the rise in anticipation of what ben bernanke may say on the hill today. let's look at the picture in europe. spanish borrowing costs lower this morning, but a little of the wait and see about ben bernanke. a mixed bag across the board. >> our road map today does start on capitol hill. does bernanke give a wink on qe3 or is this all about scolding congress on the fiscal cliff? we will have more in the next hour. >> and coca-cola delivers a solid quarter, but feels the head winds from fx and j&j delivers yet another disappointment. >> the stock hit 100 this morning for the first time since may, but blankfein says conditions are deteriorating. >> and marissa mayer takes the top spot. google and facebook continue to grab online display ad and search share. >> in about an hour, ben bernanke will kick off two days of testimony on the state of the

i'm carl quintanilla with melissa lee at the new york stock exchange.elivers alpha conference in new york. they're gathering in the world of investing today. interesting exchange covering everything, guys, between taxes, the euro, europe at large and that -- probably most vivid exchange on libor so far with the secretary. >> look. i've got to tell you. i interviewed the secretary last year. i found him a little more down beat. i found him a little more worried. i did not get the sense that the crisis is over by any means and, frankly, i feel less reassured than i did last year. >> hard to imagine you wouldn't have when he said the economy is slower than it was a year ago. >> maybe everyone has a keen eye for the obvious but we never want to hear it and we heard it from ben bernanke and tim geithner and look at the earnings saying, carl, you know, as far as i'm concerned because the earnings take a turn for the worst. the policymakers more down beat than the ceos. >> geithner says that the fiscal cliff is a significant risk to the economy and in the back

melissa lee is off. so far futures shrugging off this bad number on jobless claims worse than expect edit. also a survey week for bls. we'll see what it means for the jobs number in a couple weeks. in europe back to talking about auctions. markets are higher but the auctions okay in france. not so good in spain today. our road map today asks what are earnings telling us? ibm posts its fourth straight revenue miss blaming europe and lower hardware sales but still boosts the full year profit guidance. can global business be okay even as europe restructures. >> morgan stanley misses expectations. revenue declined in advisory equity trading and fixed income. it does hang on to the number one spot in underwriting ipos. of course the facebook ipo included in this quarter. >> shares of express scripts and walgreens sharply higher after striking a new agreement ending the long-running dispute between the two companies. futures though of course on the rise helped by some tech earnings news. shares of ibm rising i

i'm melissa lee. carl quintanilla is off today. let's look at how futures are setting up the day after we posted the worst three-day losing streak in a month for both the dow and s&p. right now we are looking at a higher open for all three major indices. as for europe, a lot going on there across the board. we do have the euro trading down, though, this morning. green arrows. 1% gains for france as well as germany. our road map for this morning starts with what the markets, what may break the losing streaks here. alcoa beating the street and predicting a second half rebound. chip maker amd warning of a big revenue slowdown because of china and europe. which is the better tell on earnings season? >> spain's bailout is moving closer to becoming a reality. it's data out of china causing concern this morning. import growth fell short of expectations. stoking fear the economy may be in for a bigger consumer-led slowdown. >>> research in motion meets with shareholders today as the stock sits at eight-year lows. will the gathering be a ca

i'm carl quintanilla with melissa lee, jim cramer, david faber live at the nyse. stocks coming off their first back-to-back triple digit losses since april and the earnings flood continues today futures moderately down about 25. data out of china and europe as well. not all of it bad but not all of it good. in europe this morning the market is also mixed with the ftse down almost five points. >> we begin with two high profile warnings. u.p.s. and texas instruments lowering forecasts citing increasing uncertainty and in u.p.s.'s case a double digit drop off in asian exports. are these bellwethers sounding the alarm? >> at&t with a pretty solid quarter, stronger wireless margins, low turn. smaller than expected drop off in iphone activations ahead of the release of the iphone 5. >> some say that could be good news for apple which is of course reporting tonight. the streets open at 10.36 a share. >> the pain in spain continues. yields crack 7.6% on the ten year as eurozone pmi contracts again. moody's officially warns that germany is not immune. first up, shares of u