michelle caruso-cabrera is in london. michelle. >> one of the many hurdles that in contractor would face, the point of death. it's a war-torn country. nobody's in charge. we veal more on that next on "power lunch." but first here's phil lebeau in chicago telling you what he has coming up. >> what do we mean by that? an old airline is coming back. we'll tell you which airline is coming back and where it's flying when "power lunch" returns. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection. and because usaa's commitment to serve current and former military members and their families is without equal. begin your legacy. get an auto insurance quote. usaa. we know what it means to serve. and i get a lot in return with ink plus from chase i make a lot of purchases for my business. like 60,000 bonus points when i spent $5,000 in the first 3 months after i opened my account. and i earn 5 times the

michelle caruso-cabrera is there with a special guest. hi, michelle. >> conference of latin-american ceos, fabio schwartzman joins me, the ceo of the largest producer of paper in brazil, largest exporter of paper in brazil. good to have you here. >> thank you for having me here. >> like i said in the tease, we love talking to ceos of paper companies, you produce corrugated boxes, cardboard boxes, a great measure of any economy. what are sales tells you about the brazilian economy? >> the brazilian economy unfortunately is weakening. there are clear signs in this direction. the explanation is easy. we face inflation, and because of that rising interest rates, rising interest rates, they are derivative, but they cause the economy to slow down. >> they've been up 375 basis points by the center bank. for the audience may not know, they stand roughly at 11%. what about the world's cup? there was a hope that the world cup would invigorate the brazilian economy, we're hearing contradictory evidence about that. what do you think it's doing? >> ac

michelle caruso-cabrera is here. let's start with russia.resident putin changing his tune a bit, now he's ready to have a bit of a dialogue. he says he's pulling some troops back from the border with ukraine. what do we know? >> all of this is being interpreted as him trying to calm down the situation in eastern ukraine and perhaps fend off any coming sanctions that might have occurred. ahead of what's expected to be a very violent weekend buff a referendum that he said shouldn't happen and because of a big holiday. >> they were so works that the russian market was clearly worried it would trigger the sanctions that was talked about on friday, if they destabilize eye crane too much, they can't hold the elections, there would be level 3 sanctions. >> may 25th is the election day, but if the eastern half of the country is completely embroiled, how do you have a credible election? 6% in a nanoseconds for the russian market, and then the russian ruble rallied dramatically. this is a one-day chart. the blue part is the dollar. so they saw this as

michelle caruso-cabrera is speaking with the investing titan chris flowers in a rare interview. >> he became famous in the world of private equity, as famous as one can become, when he did a successful investment in a japanese basic. he netted at least personally perhaps as much as a billion, at least half a billion. he seemed to be the perfect person to ask about prime minister abe's herculean efforts to turn around the japanese economic. his response was not encourag g encouraging. >> here's what i would say about abe-onomics. i've been there a hundred times, and the more i go, the more i realize people don't know what's going on. this is a political question, this is a question of remarkable people, who have shown before that they can pull up their socks and get it together, will do it this time. i don't think it's capable of nonpolitical analysis. >> i find it incredible when you say you don't know what's going on there. what do you mean? >> i find it an opage place, and i don't think i'm alone in that. i went to one of the most senior people in one of the biggest companies, and a

>> thank you very much, michelle caruso-cabrera. will the u.s. markets continue to shall rough off the flash points? what do you think, bob? >> i think the market is voting appropriately. the economy is doing a little better and sigh ukraine? where is that? i don't want to be that flippant about it, but from here, it's not as if putin has all the options in the world. he has a lot of fiduciary he'll be quiet and i think go back to playing with other things. >> bob, can i take it one step further? it's not ukraine, where is that? it's almost, ukraine? okay, but makes us look even better? bob? >> yeah, i think that's right. look, it's not as if the u.s. and the west have been entirely unified on this. there are economic interests at play. it's not just about geography and politics, as you well know. i think putin has known that all along and said they, the europeans need some things that i make, natural gas among others. as a result, is not as clear-cut as the good guys versus the bad guys. >> you know, john, the two best dogs i ever owned were my

michelle caruso-cabrera is across the atlantic for us live. michelle? >> hey there, sue. yeah, today i spoke with the leader of the uk independence party. if the uk had a tea party, this would be it. he has got a lot to say. and unlike most brits, he doesn't feel he has to be polite when he says it. you can see him on "power lunch" in two minutes. mayo? corn dogs? you are so outta here! aah! [ female announcer ] the complete balanced nutrition of great-tasting ensure. 24 vitamins and minerals, antioxidants, and 9 grams of protein. [ bottle ] ensure®. nutrition in charge™. mayo? corn dogs? you are so outta here! aah! [ female announcer ] the complete balanced nutrition of great-tasting ensure. 24 vitamins and minerals, antioxidants, and 9 grams of protein. [ bottle ] ensure®. nutrition in charge™. >>> that is test video from the highway institute for safety. that is from a report with cars with built-in prevention systems and how effective they are. the man behind of wheel of those tests, executive vice president of the iihs, david zubi. david, cars are built to protect pe

. >>> and michelle caruso-cabrera with signs of worry, and we've got a big debate this hour on "global risk versus global reward." that's 14 minutes away. first sue at headquarters. >> that's right, i'm in the house. we start this hour with new data on the most important asset for many, if not most, americans. their homes. existing home sales ticking up for april. and diana olick is on the case for us in washington. hi, diana. >> reporter: hi, sue. and that's right, existing home sales did move up in april. that's the first month-to-month move we saw all year, but we're not quite out of the woods yet. we know existing home sales up in april 1.3% month to month, but they're still down about 7% from a year ago. regionally much of the nation was unchanged, but the west did see a nice bump up higher. that may be because it began to correct first last year, so it may be beginning to improve for us this year. sales, though, in the west still down 10% from a year ago. let's talk about inventory and price because they're tied at the hip, of course. the number of homes for sale also took a nice

michelle caruso-cabrera is here today, sitting in for becky quick. we have a lot of news to talk about. traders have four more sessions left in the month. that means plenty of talk this week about the so-called sell in may or go away theory or predictions of a june swoon. on friday, the s&p closed at 1900 for the very first time. take a look at equity futures at this hour. the dow looks like it will open up higher, nasdaq up as well. close to 17 points higher. the s&p 500 looking up with a green arrow close to 7 points higher. a couple of economic reports coming this morning. you should be paying attention to. at 8:30 a.m. eastern time, durable goods. also on the docket, the s&p case-schiller index. we have a lot to look forward to. in the meantime, i send it over to michelle. she has today's corporate stories. >> pfizer abandoned its bid to buy astrazeneca after being rejected by its british rival. the move had been widely expected. pfizer can return with another offer in six months or three months if astrazeneca invites it back in. we'll talk more

and michelle caruso-cabrera is here. let's start with the ukraine where pro-moscow protesters are if declaring victory. >> yesterday's referendum was chaotic. clearly the counting of ballots were skeptical, but a vast majority of people vote to do join and be independent from key jif. so far russia has been sitant. that's the key thing at this point. what is russia going to do. there has been violence over the weekend, nor does it look like they'll annex these two regions either? >> that makes florida look really good, man, i tell actual. there they are. all right. all right. >> let's move on to nigeria, a truly tragic story there, with the kidnapping of more than 200 young girls. the latest is a video that's surfaced. >> released by the girls' kid p kidnappers. boko haram has put out the video, them praying and reading from the -- based on the m.o. of this group, they think the video is authentic. they're proposing a video swap. the girls can be traded for boko ha ram individuals who are in prison right now. >> and to i

michelle caruso-cabrera joins us. she has a very special guest. le. >> andrew, thanks so much. sitting with me is chris flowers of jc flowers, private equity that invests in financial institutions. thank you for being here. >> thank you for me have gone me here, michelle. >> everybody has read the book "too big to fail." you were at the front lines in 2008, 2009. lehman, bank of america, merrill, aig, et cetera. so we wanted people to know that about them and give your street cred, stokes. how is it going? but the context of that is you were pummeled in 2009. you invest in financial institutions. you always have and i expect you always will. 2009 was a brutal, brutal year. you were down 60%, 70% in two of your funds. some were carrying investment in your funds at zero on the books. how is it going now? we are five years away from that time period. what's it like now? those were tough times in 2008 and 2009 in financial services. one of our funds did take quite a beating. our market has come back a lot in a lot of years. in 2012, 2013, funds recover

i'm joe kernen along with michelle caruso-cabrera. becky and andrew are off today. inflation data down 15 points. part of the reason is what michelle will tell you about right now. that is walmart. >> walmart shares under pressure this morning. $1.10 a share, 5 cents below estimates. revenue also below estimates. the weather did shave 3 cents off its quarterly numbers. you can see it is lower by a little more than 4%. general motors is recalling 2014 chevy silverado and sierra for a tie rod issues. and one that affects power-assisted brakes. >> the man at the helm from one of the most prominent news organizations. guest host john steinberg. i wondered why it has gotten to that. i don't know why we couldn't introduce you with michelle. >> as one of the anchors. >> you need to weigh in. that's your biggest competitor, the "new york times". >> yeah. >> to me it looked like you had a little bounce in your step. you would never be one to foreshadow. >> his counterpart at the new york sometimes got fired yesterday. >> interesting in sights for you. i know what we have repo

michelle caruso-cabrera joins us to explain that and so much more. >> the euro this morning was almost at $1.40, this close when mario draghi did nothing and then he started to talk, and it dropped sharply. so you can see the intraday move here on the euro. why would he be so upset about the euro? it really hurts a recovering economy if your currency is very strong. >> because you can't export. >> you can't export. >> you lose whatever currency you get. >> now you're spain, you're italy, you're greece, you have done massive budget cuts. you've cut salaries, pensions, done all these things to make your economy more competitive. finally for the first time in years, your exports are rising. and then bam, you get a 10% move in your currency. >> in your currency. >> in less than a year. >> yes, yes, yes. >> and suddenly all that could disappear after all that hard work. that's why he's working so hard for now at least jawbone down the currency. >> i've listened for years and i know you have, too, to american treasury secretaries administrations, a strong dollar is in the great interest of t

let's bring in michelle caruso-cabrera. what might be the price of defying putin in this situation? >> not clear that it's going to be much. i think because putin said i wouldn't do the referendum if i were you, it becomes a sideshow. people are trying to figure out when he was so dovish yesterday, was he really? >> right. >> and why? so there's three reasons, right? maybe to avoid sanctions. there's way too much violence this weekend. maybe it would trigger sanctions. or maybe he also wants to give angela merkel an out because we know germany doesn't want to impose sanctions. she can say look, he's being more cooperative. finally, we've gotten more intelligence in the last 24 hours that maybe he did not have as much control over those eastern municipalities as he did in, say, crimea which went so smoothly. >> it almost feels like he's kind of blowing hot and cold. just to create confusion and maybe undermine confidence in kiev. or do you think there's a greater plan? >> are you suggesting that vladimir putin may spoke speak out of both sides of his mouth? >> i would never suggest t

michelle caruso-cabrera is also with us along with mark okada of highland capital.f you who didn't see in the 6:00 hour, give us a quick briefing what this all means. >> landslide victory for modi. this is a pivotal shift from dominance by socialism under the naru gandhi dynasty that dominated for so long. now a pro-business, pro-market government for the first time, which should hopefully help their issues. he has hurdles, lots of things to get through. a dramatic shift pushed the stock market to all-time record highs. >> does it makes sense that the market is as high as it is now? or are people estimating things? >> there is a little bit of expectation over here. modi is decisive and a clear-thinking leader. he should be able to resolve several outstanding regulatory and policy-making problems that have been ailing the country for the last two, three years. having said that, there is no magic wand. he isn't going to be able to come and change things. because he needs time. and he needs, you know, ability to be ale to put a team together to resolve these issues. >>

michelle caruso-cabrera will join from us london with that. michelle? >> hey there, becky. yes, libya -- here in london for two days, trying to get big oil companies to invest in the country. pretty bad timing, though, just this week, the state department says the violence is so bad, all americans should leave libya. what to do? we'll talk more about that, right after this break, coming up here on "squawk box." true business-grade internet comes with secure wifi for your business. it also comes with public wifi for your customers. not so with internet from the phone company. i would email the phone company to inquire as to why they have shortchanged these customers. but that would require wifi. switch to comcast business internet and get two wifi networks included. comcast business built for business. you wouldn't have it she any other way.our toes. but your erectile dysfunction - it could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is th

i'm michelle caruso-cabrera along with andrew ross sorkin and steve liesman.lineup ahead including martin franken, tenant health care and sir richard branson on a new hub deal. but let's start off with the markets. futures are suggesting positive open. take a look. nasdaq futures suggest we'd see a gain of a quarter of a percent. dow would open higher by a little more than two. s&p would be flat. the dollar at this hour is lower across the board. a buck 69 for the pound. 131 jen for every dollar. ten year 2.61% going below 2.6. we were talking about 2.5 at one point yesterday. now back to 2.6. still lots of mystery about what is going on with the long end of the curve. >> breaking news on big phrma. let's get out to meg. >> yeah, the deal frenzy

michele caruso-cabrera. on that, dow up 55 and mary thompson on the floor today.ary. >> we have an up session on the market. relief for investors after a terrible tuesday. what we're seeing today is broad-based gains in the market with the exception of retailers. they're lower as well as drug stocks today. these are some of the things we're watching. there is disappointing data on first quarter productive, concerned about the increase in labor costs, putin offering the olive branch helps a little bit. the main event at 10:00 eastern when janet yellen head of the federal reserve, of course, will be testifying on capitol hill. that's what traders are watching. they're watching for the alibaba effect. the chinese company filing for its ipo last night, $15 billion ipo. concerns about its valuation put pressure on the japanese stocks and concerns about its valuation putting some pressure on some of the stocks here in the u.s. that compete or own it as is the case of yahoo!. what we're also watching today is whether we see the continued rotation out of financials into e

michelle caruso-cabrera is here today, sitting in for becky quick. we have a lot of news to talk about. traders have four more sessions left in the month. that means plenty of talk this week about the so-called sell in may or go away theory or predictions of a june swoon. on friday, the s&p closed at 1900 for the very first time. take a look at equity futures at this hour. the dow looks like it will open up higher, nasdaq up as well. close to 17 points higher. the s&p 500 looking up with a green arrow close to 7 points higher. a couple of economic reports coming this morning. you should be paying attention to. at 8:30 a.m. eastern time, durable goods. also on the docket, the s&p case-schiller index. we have a lot to look forward to. in the meantime

i'm michelle caruso-cabrera along with joe kernen.nd andrew are off today. >>> good to have our guest here. >> good to be here. >>> we get weekly initial jobless claims expected to come in at 320,000. that's up slightly from the prior week. also at 8:30, we get the april consumer price index. headline number expected to rise by 0.3%. if you strip out food and energy, one-tenth of a percent rise is to be expected. we're expecting some big

dominance of an - anti-establishment and anti-eu parties, nigel farage will be speaking with michelle caruso-cabrera at 12:30 cet, 6:30 eastern live today. another complication for carnie and cameron there. looking out for that interview. >>> focusing on apple, buying beats electronics for $3 billion to boost its music business. streaming services encroach on itunes. apple gets not only beats streaming service and market-leading high-end head phones but high profile talent. beats co-founders jimmy iovin says ceo tim cook told him he wanted to buy beats at a meeting two months ago. speaking at the co-technology conference, apple's media boss explained the motivation behind the deal. >> we have a lot of customers, we know what they listen to. we have al gagorithms. we have a great relationship with artists. we deal directly with artists. we work with them to market that content. we think all of those things when you put them on together it's on steroids with us together. >> apple expects the deal to close in the fiscal fourth quarter. quick check on apple stock, down 0.5% in the german market trading

i'm michelle caruso-cabrera along with joe kernen, becky and andrew are out today. reaching record highs. today the markets get more economic data, more earnings reports. the government will release its april producer price index and economists are expecting a rise of 0.2% on the head loan number and the core rate which excludes food and energy. on the earnings front there are several key reports to watch. macy's reports at 8:00 a.m. eastern time. farming equipmentmaker deere will report this morning and after the bell, cisco systems reports. that could have a big impact on thursday's trading. >>> sony reporting a loss. $1.3 billion. the tsony did see an improvemen in sale which is rose by 14% to $76 billion for the year. >> we're seeing it right there, how many different products they made. >> i had a

and now it's time for cnbc's michelle caruso cabrera. michelle, someone is announcing an ipo.ig. >> it's huge, huge. if you have the large market share in china, you're going to be a huge online retailer. th they will be likely be worth as least as much as facebook but many believe may be worth as much as walmart. we expect the nyse and nasdaq to fight very hard for what will be the listing of this huge event approximately yahoo! owns 22% of this. >> yahoo! still can't get people to use their search engine or mail. >> many investors bought yahoo! because it was a proxy to buy this internet company. now we're going to judge yahoo! on its own merits. but they're also going to end up with a lot of money. what is marissa meyer going to do with that? she's going into tv. maybe she needs a morning political show. >> i think yahoo! needs one. give me a call. write checks, big checks. >> i have a 10-year-old daughter, she absolutely loves "frozen." she said i hope that's a musical one day. i'm stunned by how big this thing has become. i think disney was even surprised. can you not get

michael krofton, carol roth, michelle caruso-cabrera and jon fortt and "fast money" trader tim seymourhe markets is in a real transition mode, transitioning from being depend on fed to being dependent on the economy. the economy is sending mixed signals so the market has volatility that wouldn't normally be associated with an xi or a mark that's in front of a recovering economy. i think the economy is in okay shape but i don't think we'll really see any momentum focused on the markets until the third quarter. >> third quarter. that means we could have all summer to wait. >> i just wan to s about the market being dependent on the fed. in one sense i agree, we are seeing a little bit of a transition away from that. but today you had draghi's comments out of europe but you had yellen's comments and those both seemed to bolster the market. i thought europe was particul particularly interesting given that they're in this low-growth, low-inflation, the fact that draghi put out there he might be willing to do something. everybody seems to be buying that rhetoric still. >> what's interesting a

cnbc contributors jon najarian and anthony scaramuci and michelle caruso-cabrera.s like the first page of hewlett-packard's earnings release was posted to the site a few minutes early. >> it was not entire release but it was enough that obviously headlines started to head. i think it was 3:36 or so and the stock was reacting. 88 cents a share. it was more or less in line with what animalysts were looking fo as well as the revenue number. what wasn't released are what are goings to be re -- continued job losses, restructuring, after they cut an over $300,0 $300,000-strong, done by 56,000 by 201$2015. billi that $2.3 billion in free cash flow number will result. that's something we've come to expect from this company that's done a good job in delevering its balance sheet, generating cash, running its businesses more profitably. that's what they're going to be pointing towards, even though printing was a down revenue number again after what appeared to be strong numbers last quarter. they're pointing to profitability increasing significantly in printing. margins going

. >> an update from the chief international correspondent michelle caruso-cabrera. >> a very controversialion. let's start with ukraine. referendums over the weekend. it happened yesterday. chaotic by all definitions according to reporters who were on the ground. the fast overwhelming majority of people voted for greater autonomy from kiev. this is all a side show. what we want to see is see what vladimir putin does in response to violence that did happen over the weekend. ukrainian national guardsmen opened fire on some individuals. conflicting reports. russian agencies say at least one dead. the russian market rallied dramatically on thursday. that's the last name we heard from flat mere putin. he took a much softer tone about ukraine. pretty much holding on to the big gains we saw thursday and friday. let's get to india's markets as well. the two marriage indexes at all time record highs. it is expected when we get the exit polls in an hour and a half -- no. polls close 8:30. in india, 6:00 p.m. there. a half hour later, we will get the exit polls. that's why we see the major indian sto

. >> let's bring in michelle caruso-cabrera. hi, michelle. >> mario draghi, when it was ripping towards $1.40, it was so close, and then he said an exchange rate was cause for concern. is he going to do anything about it? no. but as you look at the intraday chart, you would see the move pretty quickly. remember, why is it such a problem? these periphery companies have worked so hard to become more competitive. they've cut salaries like mad. they've cut government budgets like crazy. they've tried to become more competitive and then the euro moves 10% and suddenly half of those gains disappear. even though the yields in italy are below 3%, when you take in account inflation, it's above 3%. their debt stock is still moving. >> we'll see if draghi's comments go his way. michelle, thanks. >>> a lot of talk about the momentum. tesla beats the q1 revenue. it doubled. as did priceline. the current outlook is below estimate. stay tuned for an exclusive interview with the ceo of priceline, darren huston. >> stock gets hit for 30, 40, 50 p

>>> good morning and welcome back to "squawk box" here on cnbc, i'm joe kernen along with michelle caruso-cabreranot engaged. she's married, people. beck qy and andrew are off toda >> where did that come from. >> joe just let it out that you're engaged, that was on twitter. it's done, dude. >> it's over. >> read it and weep all you people out there. a lot of fans. >>> retailer sears are exploring strategic alternatives for it's 51% stake in sears canada. sears is in the process of hiring an investment bank. that move follows last year's spinoff of land's end. sears also said it may sell its auto operation. >> we're about two hours away from the government's latest read on inflation, economists are looking for an increase of 0.2% for the april producer price index. both for the headline number and the core rate which excludes food and energy. flights at chicago's o'hare and midway airport slowly return to normal this morning. more than 1,100 flights were canceled after an air traffic control center was evacuated because an electrical problem allowed the facilities to fill with smoke, the control r

our international correspondent michelle caruso-cabrera. she's with one of the politicians who's shaking things up. earlier, julia, our person in london said, well, yeah, you're describing nigel farage. he's kind of american. it just occurred to me, we've shown them for a couple hundred years that welfare capitalism really isn't that great. they've seen the results. should it be a surprise they're finally coming around? why is it shocking? >> that's a great point, joe. let's ask nigel farage, been a guest on "squawk box" before. good to have you. -- from "the new york times" where politicians here in the uk are trying to recalibrate their positions to deal with the threat of the leader of the uk, nigel farage. that's you. why do you think you did so well and why do you think people are surprised that you did so well? >> 40 years ago we have an establishment that decided the future of this country would be part of a project in europe. what's happening is the united states of europe is being built without the consent of anybody. and really, w