who's winning this one, the nyse or the nasdaq? that's next.ng big changes, everybody. he's going to tell us how american diners are spending in this economy and how he plans to grab what dollars they do plan to spend. >>> as we approach the summer driving season, gas prices are about where they were last memorial day weekend. aaa says more than 36 million of you will drive 50 miles or more this holiday weekend. that's up 1.5% over last year. don't move, we could see a record. come on, hang with me. ♪ ♪ ♪ ♪ liz: who nabs the alibaba listing? top officials at both the new york stock exchange and the nasdaq apparently met earlier this week with executives from alibaba in a final attempt to win the coveted listing rights as the big behemoth, forget big, gigantic chinese company prepares for its initial public offering. he's here. who gets it? >> well, there's no place i'd rather do this than with you. what's interesting is everybody thought nasdaq was not in the lead position on this s and it still may not be in the lead position in terms of winni

, about $9 billion, the nyse has linkedin, pandora, twitter being the most high-profile.facebook, that is why the dollar figure is the biggest for the nasdaq, but as we know that did not go so well, so that has given at least more recently a bit of an edge to the nyse. it is difficult to say how this one will go. >> julie, thank you so much. alibaba may become the most valuable internet company after google, but its fortunes are intertwined with another major player, yahoo!. they will likely sell a portion, giving it a hefty cash windfall. what will they do with all that money? christina g has been looking into this. people have been buying into it because of yahoo!, they have gotten those properties for free in that whole paradigm. what happened after the ipo? >> yahoo! will likely sell 40% of its stake. depending on the valuation you something between $10 billion and $50 billion. we will see how much they pay out in taxes. but i think that early on a lot of shareholders really expected that money back from ali baba. of course, that is not too much fun for a ceo to do. w

is charging the nyse, nyse arka and nyse market for repeated failures to operate in accordance with exchangeexchanges are being charged for failure to comply with the responsibilities of self-regulatory organizations. they're also saying here that the nyse exchanges have agreed to settle the s.e.c. charges and are paying a $4.5 million penalty. so big news there from the nyse and the s.e.c., carl. >> eamon javers, we'll get more on that in just a little bit. in the meantime shares of t-mobile rallying this morning, up about 8%. the company reported it added 2.4 million net customers in the first quarter. that is well above year ago levels. i think it's the first quarter ever of plus 20 million. the ceo, john legere, tweeting about his results earlier this morning saying "we've outpaced the competition again. 12 times over. i blank you not." joining us this morning for another first on cnbc interview, john legere, the ceo and president of t-mobile. nice tweet, john. you like to break the rules. and you keep doing it. >> good morning, carl. and of course, i was on my conference call getting tw

nasdaq or nyse.re in asia last week pitching why they should be listed on their various exchanges. starting to heat up. they were out there, definitely pushing their cause. we don't have a decision yet. i don't think you may get that -- i don't think you will get that until they file for terms. i've said before, terms unlikely to be filed on this until mid july, maybe the early part of august. we may have another month to wait before we find out where things are going. meantime signs of life in the ipo market. most important thing number of filings out there. i was out friday, didn't get the numbers until a moment ago. 13 companies filed to go public last week. they wouldn't file if they didn't think things were doing better. 13 filing is a good sign. most important thing to watch the stock market. the nasdaq has bounced off its bottom. it dropped april, march to april, dropped like 8%. it stabilized in the last few weeks. that's the most important thing to watch when people ask me, i say watch the n

nyse is neither admitting or rebounding. >>> pent-up demand brought consumers back to the the showrooms in april. nissan, toyota, chrysler saw strong sales. ford motor sales slipped slightly. the news was eclipped by the company ceo, alan mulally announcing his retirement. those are some hot stories right now on foxbusiness.com. >>> we have more, more, coming up. one man shares how he went from doctor to patient after a devastating cancer diagnosis. >>> later in the show, the latest developments on the crude oil train that derailed in fiery crash. look at those pictures. will this create more support for the keystone pipeline, or is it going to stop it in its tracks? my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike w

. >>> we'll take you out to the live bell here on the nyse. we had a really good day yesterday after those fed minutes came out showing that easy money would continue for a while. so, we have a live bell on the nyse and futures pointing to a higher open over on the nasdaq, as well. there we go with yet another chinese company with an ipo. this one was heavily subscribed. today is thursday, may 22nd. this is "today in the bay." >>> well, good morning to you, i'm scott mcgrew. >> i'm laura garcia-cannon. a pro-russian commander who calls himself demon says he's possible for an attack at an eastern ukraine attack point. it happened 20 miles south of densk near the ukraine/russia border. in addition to the 11 killed, 30 hurt in that attack some of them reportedly in grave condition. after the attack the commander reportedly bragged about destroying the checkpoint and stealing weapons off of the dead and the wounded. >>> meantime, north korea fired two rounds at a south korea patrol boat overnight. that island now being evacuated and south korea fi

let's go to nicole petallides on the floor of the nyse. how is it doing?nd liz, i think the shareholders were hoping for more here with the stock in the after-hours is down over 3%. earnings per share missed by a penny. they came in with 2 cents versus analyst estimate of 27 cents. and on revenues, 686.3 million versus analyst estimates of 681.9 million. so they beat on revenue. they had a disappointing quarter and they're also working diligently to regain their fashion footing. also seemed to be struggling with the younger buyers. we talk about the younger buyers and competition in this group, american eagle outfitters and abercrombie & fitch. they are somewhat fickle. they also had to contend with some tricky sort of weather and storms and the like. under urban outfitters umbrella don't just forget it is not just urban outfitters but anthropologie and free people that come under the umbrella as well. we'll continue to watch this one. it is trading lower after missing on earnings per share. >> i bought vegan leather legging. vegan leather. i love free peo

more "squawk on the street" from the nyse straight ahead. [ female announcer ] there's a gap out there keeping you from the healthcare you deserve. at humana, we believe if healthcare changes, if it becomes simpler... if frustration and paperwork decrease... if grandparents get to live at home instead of in a home... the gap begins to close. so let's simplify things. let's close the gap between people and care. ♪ with all the opinions about stocks out there, how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. call or click to open your fidelity account today. >>> we're eight minutes before the opening bell on a tuesday. time for mad dash. we talked retail at the top, but we did not talk about this name. >> lost in terrible retail numbers is urban outfitters. urban outfitters is a tale o

. >> but a lot of people thought nyse was in the lead early on.tand, nasdaq has been outhustling the new york stock exchange -- lori: who's winning? >> probably the new york stock exchange. i'm sorry. you can see. but we understand nasdaq has been throwing the kitchen sink the try to get this listing. bob greifeld was over in hong kong last week speaking with officials, so was the new york stock exchange. but, you know, listen, this is the bottom with line: new york stock exchange is still in the lead of this deal. the problem is for duncan needer awe and his last official action as that chief, he's being outhustled, essentially, by nasdaq. they are pitching hard. if nasdaq does pull this out of their hat, that's a big coup. now, we get back to jack ma, the guy at the center of the alibaba founder, he ignored urgings from the chinese government to, basically, list in hong kong. and the chinese government is still, from what i understand, a little sore about that. so that's where he is right now. we should -- lori: do you know why? >> why? because

the dow and the nyse could hit a record today. today is friday, may 30th and this is "today in the bay." >>> and a very good friday morning to you. thanks so much for joining us, i'm laura garcia-cannon. >> i'm scott mcgrew. dr. priscilla chan is the first lady of facebook and the wife of mark zuckerberg is accomplished in her own right. she's kept a low profile until now. this morning dr. chan is speaking out exclusively on "today" show about life here in silicon valley. and also to announce a $120 million donation to bay area schools. >> we've seen first hand that the quality of education really varies in our area from the highest performing schools to the most underserved schools. >> the full interview will air on "today" show right after "today in the bay" but getting a preview right now courtesy of savannah guthrie who joins us live from 30 rock in new york city. good morning, savannah. >> good morning laura and scott. good to see you. >> here in silicon valley we report about mark zuckerberg all the time. dr. chan kept a low

most of the stocks are on the nyse, including caterpillar, southwest airlines, western union and aol.rigger any volatility halts but were put in place following the may 2010 cra crash. the nyse later canceled all trades in aol made during a two-minute period. >>> the april ppi out at 8:30 a.m. eastern, producer prices are forecast to rise 0.2%. macy's reports results before the opening bell. we'll get numbers from deere, sodastream, kate spade, remax, cisco and agilent. >>> michael, good morning to you. nice to see you. here we are. dow, s&p up record highs. the russell 2000 down nearly 10%. a lot of people buying downside protection, i understand. why the divergence and what's that telling us? what's it telling you? >> i think the story of the markets over the last several weeks, you know, we had a nice rally off of february lows. then you had this massive divergence set forth. so the question is, do the high beta momentum stocks and small caps, do they bring the blue chips lower? or do the blue chips keep rallying and ultimately bring up the high beta, high momentum stocks? my view

rick santelli in chicago, bob pisani at the nyse. rick, why are yields pushing down and what does it all say about expectations for the payrolls tomorrow? >> reporter: first of all, mandy, think about every guest you've had on that talked about treasuries in the last four months. pretty much they've all been talking about higher rates. some of them even talk as if this year has had higher rates. but it hasn't. lots of short covering. "a." "b," technical levels, we'd be looking at fresh low yields for 10s, already happened for 30s, we're going back to june. i think that's triggered activity. there's an even simpler answer. it's the first day of a new month. a big holiday today. monday it's a holiday in london. i think that's helping drive short covering in treasuries. >> as we can see, the ten-year is below the 2.6% mark. >>> let's send it over to bob pisani at the nyse. a bit of a choppy day. currently to the losing end. >> and the thnasdaq has been trending down. not happy to see that. although we see things on the upside. social me

at the big board, bank of california celebrates transfer from the nasdaq to the nyse.course, largely green back there in the real-time exchange at hq in new jersey. over at the nasdaq, the peace jam foundation celebrating the launch of the 1 billion acts of peace campaign to create 1 billion projects that address important issues facing humanity. i can get by on that. >> totally on board. we've got when i look at the takeover, look at that value yesterday. my friend herb saying pearson the ceo of valeant said maybe he made a mistake saying he was going to do -- he wanted to be $150 billion market cap company. the merger is there. did you notice the smith & nephew won't go away? >> on valeant, yeah, that was weird. valeant, listen, it's hard to do a hostile, stock based, they increased the cash portion to $58.30. but they're still 0.83. indicated that's not going to change. these guys sit down, maybe consider raising. there's a lot of time go still and as i pointed out many times allergan does have time, yes, they can move to even more hostile footing in valent, by writ

. >>> got news from the nyse. duncan is retiring from the nyse.om farley the coo was named as his successor. ice says the rapid integration of ice has accelerated his planned departure. told he's not here today but interesting to get his soon on a day goldman is selling their market maker rights. >> people are getting out of businesses left and right. i think they're still trying to figure out what their mission is. i think that's one of the reasons why their price to earnings multiple are so low. >> goldman had good action yesterday as i recall. >> let me tell you the back chatter that i heard on that. there's a groundwell of beleaf there will pension fund after pension fund will drop credit suisse because they did plead guilty. the justice department is saying we're not taking away their charter there are institutions that say listen we can't deal with a company that has pled guilty to something. and then you start thinking like why do you have to deal with credit suisse. i don't want jobs lost or anything but there is a lot of belief that maybe

. >> what about the competition , in my sci --sdaq nyse? this filing we are not told exactly which one alibaba is choosing. that is still to be determined. we should find that out in the next couple of weeks or months. that is having that will show up in revisions. twitter went public in november. they didn't list with exchange -- which exchange it was listing not in its first perspective. that is something that companies saved until after they get their first perspectives out. then they can focus on which they will look on. anotherone marquee to in the world of entertainment, and actor director, dan fogler, he has won a tony award for a show about a spelling bee. he helped to make it. it was his voice. he is directing and starring in a film that brings attention to the multibillion-dollar marijuana industry. he joins us now in new york. they key for being here. .on peyote is the name he is a person, right question off asmeone who starts warren. >> my character goes through this transformation where he peyote,this modern don who is kind of

that is over four times the number currently trading on the nyse. twitter has been vocal about its biggest shareholders have no plans to sell, holding at least 50% of outstanding shares. among them, the ceo and co-founders, bench mark capital, skrchlt p morgan asset management. so we looked at 1 # 1 other social stocks big lockup expirations since 2011. on. >> prices have finished up 2% the day before an expiration, down just under 2% the day of. down again just under a percent the day after. take facebook's first big lockup expiration august 2012, the stock jumped over 6% the day before, then fell 6% the day of. and another 4% the day after. and a similar pattern for linkedin in november 2011, which saw a number of insiders sell. but when many insiders stay put, it can be a different story. so yelp for example fell over 4% on expiration, but jumped over 22% the next day. so analysts telling me insiders staying put could help ease the pressure on twitter stock tomorrow at least as far as the expiration is concerned. on monday shares closed down 0.7%

vehicle 35 the driver's breath and a portion of the lot is the normal with this driver has his eye fund nysewith a passenger fans not seeing another fought for it then they go heading down on march 3rd. since later another driver while the car is that motion as recorded with one hand and rub with the other and if you look carefully the passenger who as it thinks of she's recording to. so the question as was watching the road while their eyes are glued to the six in scoring. a lot of drivers are looking into these different strains of driving down on our. but this lady from that bronco for has been my favorite. it's love and hard logo on the back. she is looking into the phone using both hands because she has given a perfect shot. it's been fighting a rear passengers and is to be doing the exact same shot riff on it ever thought about sharing grief again and again and threatened shot she cares to diablo and image. if he could be instagram and facebook said hachette facebook fan who knows. or you have a self on hand of grid of as the boats there and the success graeme of against getting out of

. >> we don't know if they're going to choose the nyse or the nasdaq. traditionally, there has been tech companies listing on the nasdaq but there's been a lot of movement on the nyse. the reason people are uk toing so much about the corporate governance issues, there's a lot of suspicion and discuss about how alibaba would have pursued or at least had pursued the new york listing as opposed to a hong kong listing because of the regulators in hong kong. the regulators wouldn't have allowed the partnership structure that the alibaba management wants to keep in place so they can have a lot more control over the company. and that's something that a lot of investors don't like to hear. they don't like to hear there isn't a lot of transparency in the decisionmaking that's going on, especially when the company is raising a lot of money. they are going to be putting more cash in their coffers. they have been on this acquisition trail. a lot of people want to know what they'll be doing with that money and whether or not this is a worthy investment. ross? >> ple

david: there will be a lot could have competition whether nyse or nasdaq. we'll follow it throughout the evening here on fbn. liz tomorrow exclusive interthrew with bill dudley. gerri: i'm gerri willis, right now on the wills report. how do you get a job at google or facebook or twitter? >>> you're shopping all wrong. why some of us missing out on great deals by not using this simple trick. >>> and meet the brainy bunch, the family with seven kids in college by age 12. they tell us how they did it. you can to. we're watching out for you on "the willis report." gerri: outrage escalating as more whistle-blowers in the veterans affairs scandal. reports of secret waiting lists, treatment delays and as many as 40 deaths spurring calls to action and calls for the president to take a stand. so where is president obama? well, today, he sent his presstek zare jay carney to speak on his before. >> you keep saying and denis mcdonough is saying he is mad as hell. where he is? >> ed, i'm sure you will hear something at some point on this issue soon. gerri: while the pre

the transports hitting new ultra-day -- mary thompson now joinses from the nyse floor. >> hey there,ary, all of this in fairly light pre-holiday trades. investors won't want to leave a lot of money on the table ahead of the ukrainian -- so the dow up 48. right now trading above its all-time closing high, but below the all-time record high. take a look at the stock that's leading the s&p 500, that being hewlett-packard. the company reporting strong free cash flow, but also announcing 16,000 job cuts. vesselors like it as the group that is leading the s&p 500 is the consumer discretionary group, because of the home builders. they're responding to the stronger than expected new home numbers. all of them are getting a booth, not only the home builders themselves, the building products companies like as a rule van also higher. sue mentioned, of course we have the dow transports at record highs, the reason for this, it's all about the airlines today, they are higher as we go into the unofficial start of the very busy travel season. crude prices are up about 66 cents right now. sue, back to

robert frank joins us now from the nyse. talking a lot of money here, aren't we?t of money but also the great american dream, right, to go from the streets of compton or bed-stuy, hitting it big. show you how hip hop's wealthiest guys made their millions. number four is curtis "fifty cent" jackson. total deal price, thirsty for other deals, created a competitor to beats calls sms audio and his networth is estimated around $140 million. coming in at number three is jay-z. of course, he's got 99 problems and money is not one of them, especially when you're worth half a billion. this artist made his for town from deals ranging from clothing to basketball and the co-founder of roca wear without by the iconics brand and also the co-owner of the brooklyn nets sports agency, rock nation sports, record label rock nation. "forbes" put his networth at $550 and next is sean coombs, at least today he's still going by puff daddy and also been calling himself as a vodka brand and part owner of the revolt tv and a clothing business. "forbes" says he's worth to around $700 millio

adam: eyes on the floor of nyse, thank you very much, nicole petallides. >>> sleeping in your ride got whole lot fancier. adults can snooze in car-shaped beds that look like your local garage. folks paying 200 bucks for the privilege. it is not even leather. >>> plus jill abramson making her first comments since her high-profile dismissal from "the new york times." none other than than melissa francis was there herself as it all went down. don't miss what miss francis has to tell us. ever have too much money? ♪. (mother vo) when i was pregnant ...i got lots of advice, but i needed information i could trust. unitedhealthcare's innovative, simple program helps moms stay on track with their doctors to get the right care and guidance. (anncr vo) that's health in numbers. unitedhealthcare. predibut, manufacturings a prettin the united states do. means advanced technology. we learned that technology allows us to be craft oriented. no one's losing their job. there's no beer robot that has suddenly chased them out. the technology is actually creating new jobs. siemens designed and built the ri

nothing conflicting about her reporting from the nyse >> gregg steinhafel has been under pressure with years at target he is stepping down. cheryl: we should mention one of their biggest shareholders they need to separate the role of chairman and ceo. one big activist investor is on that one. visa critical name coming to consumers and shopping. what so going on with visa. >> baron's put at top of their list of 500 companies. positive comments from for visa from "barron's" a great day forevers say, pfizer is having a tough day though. why? >> they came out with the numbers and follow thestory whih 106 billion says does in the suffice. is down 2.3%. a loser along with the financials. david: by the way revenue they came up short. again a good bottom line you about the revenue came up short. cheryl: real quick, blackberry, nicole, real quick. >> when we look at blackberry they will sell off real estate assets. cinco de mayo. check them out. david: happy cinco de mayo, everybody. and actually all of the indices managed to pop into the green. [closing bell ringing] the global dow is down one

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that is going to be an important comparison to draw to what the nyse did for twitter and apples to applesds up getting it we should hear in july. >> let the battle begin. >> absolutely. >> like game of thrones. trial by combat. and zap poe. and interesting social skills. patterns of exclusion remain the order of the day. that the's the jesse jackson problem. and he's here to explain exactly what he means later. [ male announcer ] this is the age of knowing what you're made of. why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain. it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor. if your doctor decides viagra is righ

one of the problems at nyse is changing business model. melissa: yeah. >> the bottom line, who would ever think about this 10 years ago when dick grasso was running it. the new york stock exchange would sell to a computer. ice is like five guys in a room in atlanta. they control -- melissa: i saw at nymex. i saw same transition one of the first reporters down on the floor when they did private equity buy it i don't. i don't snow if you understand. you're going away. >> neared near, he really did an -- duncan neiderauer did an excellent job helping shareholders of new york stock exchange. >> as best as he could, as best as he could. look at stock price, it is stock price. a lot of people that owned the stock at highs would not say that. this is market moved away from electronic trading, you know, lack of, and then lack of equity order flow going to the floor of the stock exchange has really crushed the shares. he had to sell to the ice. melissa: this one was incredible to me too. more problems at general motors. the automaker recalled more

think have been in positive territory but an hour all year. >> i'll turn the lights off here at the nysee here because we won't need anymore. >> there's some truth to that. >> rick, i know what you've said which is that, you know, if rates trade their bad news, just heard from bill miller as to why this may not be the case. >> look, if you look at what was happening with the fed comments today, we are -- we had two fed presidents speak, plosser from the philly fed and dudley spoke and if dudley had spoken first the markets would have much less of a reaction because dudley was really talking very dovish. really taking our time. there's going to be a significant period between the end of taper and the beginning of rate-raising, and we're watching all the indicators very careful and he's much more in line where janet yellen is than plosser is, so i think some of the heightened activity around this today has sort of been kind of much ado about nothing. >> i definitely agree with that, but i think it tells you a lot more about the anxiety in the market, that it's really suggestible and kind o

live from post 9 of the nyse. >> the ceos that come by say can i press this button and then they hit bye-bye bye. >> it all starts at 9:00 a.m. we needed 30 new hires for our call center. i'm spending too much time hiring and not enough time in my kitchen. [ female announcer ] need to hire fast? go to ziprecruiter.com and post your job to over 30 of the web's leading job boards with a single click; then simply select the best candidates from one easy to review list. you put up one post and the next day you have all these candidates. makes my job a lot easier. [ female announcer ] over 100,000 businesses have already used zip recruiter and now you can use zip recruiter for free at a special site for tv viewers; go to ziprecruiter.com/offer2. at a special site for tv viewers; ♪ "first day of my life" by bright eyes ♪ you're not just looking for a house. you're looking for a place for your life to happen. >>> last time salesforce.com reported back at the end of february, the into of the market changed dramatically. the momentum was falling out of favor. it delivered a terrific quarter,

what we do know, the underwriters are prodding company to pick nyse because of technical issues and problems at nasdaq because of the flub of facebook ipo. people at nasdaq getting impression this thing is starting to even up. two reasons. number one, you can't buy alibaba shares on new york stock exchange. you can participate through nasdaq index that sells on the singapore stock exchange. number one. number two,jd.com, big chinese intercompany came public recent days. adam: nasdaq. >> did a pretty good job. they think this thing is evening up. would say the official decision on the listing has not been made yet. we should point out that underwriters have been prodding alibaba to pick the new york stock exchange. but nasdaq is fighting back. this week rubber met the road. two of the top officials from both exchanges were at alibaba's headquarters in hong kong. i will say one other thing of. this is essentially last big thing that duncan neiderauer will do at new york stock exchange trying to win this. adam: charlie has been ahead of this. you called neared yourer's retirement. >> yeah. adam

bob pisani joins me from the nyse floor. bob, certainly a bit calmer as we go into the weekend. >> calmer, but still things -- i want to show you, for some of the big regional banks lower interest rates, want a steeper yield curve, but generally lower rates not helpful. all notably weaker for the. that's been a major problem. financials are the big weak point. housing starts for april, we came out, all right, they were okay, but all multifamily. so the home builders, i was looking for a rally. nothing really going on there on the mix side. the retailers were getting earnings about halfway through. penney's nordstrom's dillard's all good numbers. but overall the earnings season has been terrible for the retailers by and large. a few have ampled the earnings. much weaker than we thought even a month or so ago. everybody is. narendra modi won in india. a lot of people debaten whether indian stocks have more to go. japan had a big rush when pro-growth people came in last year, it's sort of petered out here. on the ipo market, tr

first though, so sue at the nyse. >> i'm going to pick up where you left off on that yield on the 10 and 30-year treasuries. hitting lows. right now, the ten-year is 2.45%. we were just a moment ago at 2.44. the yield on the 30-year is 3.301. what does that mean for stocks you ask? it means a lot. bob pisani is here to tell us exactly what. >> it means uncertainty and that's an issue for the market. risk is a little bit now to the downside. let's look at what the ten-year did. around 8 a. move to the downside. immediately, we had a cascading series of effects. gold, for example, we talked about gold and some of the fear indicators. gold dropped about the same time we saw a move down to the side. after that, s&p futures, which of course trade prior to the open, it dropped. see that? just after 8:00. okay, what caused all this? i think a lot of this has to do with technical factors. put up the ten-year again. once it broke a little bit, that's when the whole cascade happened. we've talked about deflationary concerns, even modest buy programs in a thinly traded market can move the yield

so theoretically -- melissa: not with the nyse? >> if nasdaq wins the deal. melissa: monica, would you invest? >> all depends on the valuation. this is interesting company with 80% market share for chinese e-commerce. at same token it has lack of transparency and has sketchy chinese accounting. melissa: james? >> they're not putting out a whole lot of detail how their businesses are doing. it is obviously a big company and growing big market but if you want to look at each of their web platforms are doing they're not sharing a whole lot of data. you would think given recent scandals of chinese company accounting they would want to go further towards transparency. maybe there is so much excitement and hype. i would be careful. >> you would think they wouldn't want to disclose that. melissa: i know. another big one, janet yellen on the hill today, fed chair. she was optimistic about the economy overall exempt for one minor hiccup. >> one cautionary note though is that readings on housing activity a sector that has been recovering since 2011, remain disappointin

bob pisani in terms of trading revenue has been on the floor of the nyse. we started out down 150 point and the financials have been a laggard, as least the big one. what has turned the markets around? >> take a look at the ten-year. stocks moved up earlier and as bond yield started to move up and as we hit yields hit the highs, stocks hit their high for the day. the ten year became sort of a proxy for global risk at this point. take a look at the dow industrials and you can see the same situation here. they moved up and as the bobbed yields moved up and also a same chart pattern overall. >> dow has been held back a little bit because of the weakness in financials and specifically because of jpmorgan and goldman sachs, talking about trading revenues and down 20% this quarter. the first quarter weakness it's spilling over into the second quarter for some of these financials. many of the big ones depended on trading revenue, particularly goldman sachs. real estate, the owner of caldwell banker and century 21, look at that down. fewer transactions than expecte

. >>> first, though, to sue at the nyse. >> we are down triple digits, but we are going to start with a major recall announced by gm just a short time ago. shares are down -- almost 2.5% right now. in the last three months, the stock is down more than 7.5%. last trade on gm is 3352. phil lebeau joins us live from washington with details on the latest real. >> sue, it's a series of recalls from general motors. in total they come to 2.42 million vehicles. again, four separate recalls, two large ones and two smallers ones, all together a total of nine models are recalled or impacted by this recall. the years being built between 2004 and 2015. one recall in particular, for the cadillac escalade. general motors has stopped sales on 2015 versions of the escalade. they are also warnings driver -- they called the owners, about 240 of those owners, and they've told them, do not drive this until we fix an air bag issue for the passenger side of the vehicle. that's for the cadillac escalade. a stop sale warning going tots oranges and people considering that vehicle. all together, general motors

check out the nyse arca airline index. it's up more than 20% this year. the industry consolidated is finally making money. so, of course, now more players want in on the action. cnbc's phil lebeau is in chicago and he's going to name some names for us. hey, phil. >> hi, sue. you know, in the early '80s people's express was one of the original airlines and it revolutionized how airlines looked in the united states before it merged into to continental airlines. it's coming back. yes, they'll be starting june 30th. base fairs will be the model here, similar to spirit and there will be add-on fees. for example, $25 if you want to put a bag in overhead bins wrchl are they flying to? >> not a lot of place. they're initially going to boston, newark, and pittsburgh and then as the summer moves on, west plaem beach, atlanta, st. peters burlg and new orleans. this is why we're seeing other airlines starts to pop up. everybody is making money. delta and american have had fantastic years so far for their shareholders and because of that a lot of people are saying thi

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david: nicole petallides on floor of the nyse has names, nicole. >> let's look at seven stocks.oked at the sector overall being a leader on s&p 500 helping to bring the markets to general highs. general dynamics, southwest airlines, cummins, robert half international, 3m company and illinois tool works as well as ryder system. as we look at these names you should look at these as economic indicators to a certain extent. i know the job market has been slowly growing. gdp growth not as desirable as we hopedded. we saw the transports hitting record highs. truckers, shippers, industrials, all these really indicate economic growth. so you hope, ultimately for all the folks watching the fox business network that this group continues to shine and today, certainly we saw that we see these names hitting all-time record highs. lots of names up 2 and 3%, 1%ct. great day here. >> good day. liz: cummins engines, this is name people loved year-and-a-half ago. >> as much we like to see when the stock market goes up it is great when the whole economy goes up as well. thanks, nicole. s&p futures

alibaba's planning to sell as much as $20 billion worth of stock on the nyse.t know when, but it would be the largest ipo in history if it comes like that and once these shares hit the market, the portfolio managers who own e-commerce stocks will be faced with perhaps a choice for them. they can stick with amazon or they can swap interest alibaba, they don't know. if they choose the latter then the selling pressure can hurt the shareholders. knowing how portfolio managers think, i still run my charitable trust and it is highly unlikely that they would own both. it's kind of not in their charter. so tonight i want to show you which way these managers will jump and i think a great many of them will pick alibaba over their best friend amazon. why is that in when you consider the metrics that fund managers care about, alibaba is much more attractive than amazon, plain and simple. the growth guys will be all over it and they might use amazon as a source of funds to buy alibaba. let me explain my reasoning. alibaba is often called the amazon of china, but frankly, th

we don't know yet, if it is going to be nyse or nasdaq or what that ticker symbol is going to be justion on the filing there. but, again, one billion dollars is what they're looking for with that number slated to change. i'll send it back to you guys. david: jo, are they at all sensitive? we just dealt with whole deal about bailout of chrysler going to an italian company. they are essentially a chinese company using western capital. i mean that's why they're here. not because they're planning on expanding or are they into the united states? >> there are plans to expand. there are a couple of companies that they have actually acquired or they actually invested in here in the u.s. so there is major expansion effort for alibaba. you are right, dave, it is a chinese company. in that respect they are subject to chinese rules and regulations. when they did have the alipay, their paypal type were trying te virtual credit card, the chinese government stepped in and said maybe that's not such a good idea. jack ma, the former ceo, the cofounder, the guy who really brought this company to promin

david: let's go back to nicole petallides on the floor of the nyse. how are they doing?oo well, huh. >> not too well, dave and liz, you're right. down three bucks for intuit. 3.53 versus the estimates of 3.50. taking a look at revenue, 2.4 billion, beat estimates of 2.38 billion. doesn't that all sound great? however it is guidance going forward for both revenue and earnings per share that are disappointing here. the view, for example, for adjusted earnings per share is six to eight cents, when you're talking about that, that is much lower than the estimates by the analysts. so revenue as well. the good news here they are adding subscribers. quarterly quick books online subscribers accelerated to 38% growth, so that's good. 36% growth. turbotax online units increased 14%. they do business solutions for accounting, taxes and the like t will be a tough day tomorrow. we'll see if anything changes. conference call that might change it, liz and dave. they have a conference call at 4:30. we'll listen to that as well. liz: thank you very much. david: so as the federal reserve w

there is a good ipo today on the nyse out of san francisco. they're pricing at $9 last night. something we will watch. in the meantime, let's check this live picture of san jose and then check in with christina loren. i was talking to her earlier and she said it's going to cool down. there's the bay bridge. >> you know, we talk, scott mcgrew and myself. whenever i get the chance. yeah, i could tell you right now, he's very concerned about this hot weather. as you know, there's a lot of people here in the bay area that don't actually have an air conditioning unit. so, i can tell you right now another one of those days you want to check on your elderly neighbors. you want to check on the young ones and make sure you send them off to school with plenty of water. so, it's clear and mild to start the day in san jose and show you the full moon what's left of it out there. hazy over the bay bridge and get that shot up for you in just a moment. temperatures are mild to start the day. 62 degrees in san francisco and temperatures are going to be comfortable as we head throughout the aft

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are rallying, you have 10% right now, the s&p actually hit new 52 week highs and the socks and the nyset 169 total stocks that hit new highs versus newly 500 last year, the market is a select few that are rallying, and the trend is bullish, the dow indians in the back to new highs but want to see more sustained ability here in this advance and more things participating. melissa: one thing, the minimum wage increase, too rich for president obama's blood, vt. minimum-wage $10.50 in the next four years leaving the other 49 states in the dust. the first time a state has pushed beyond a $10.10 rate endorsed by the president but how long before the rest of the country follows suit? peter morris -- peter morici is here to do get out. >> it is good, we need a raise in the minimum-wage. when we don't raise it to keep up with the rate of inflation it is like a pay cut for the poor. we had a minimum rage with 1938, how has the economy done, i would characterize it as the greatest expansion in prosperity in the history of human civilization. melissa: peter morici, what do you thing? >> that economy

the bank of california founded in san francisco on the nyse over on the nasdaq a billion acts and asking to do anything just small to help out the world. today is thursday, may 29th. this is "today in the bay." >>> happy thursday to you, i'm scott mcgrew. >> i'm laura garcia-cannon. is edward snowden a patriot or a traitor? he sat down with brian williams for his most televised interview since taking asylum. a look at where snowden goes from here. good morning, tracie. >> they sat down for five hours and we don't pay you and you answer all the questions. a lot of questions whether he stays in russia and whether he comes back here to face charges or whether he wants to come back to the united states. >> if i could go anywhere in the world, that place would be home. >> reporter: but for now he's in russia charged with espionage. edward snowden the man who blew the cover off the u.s. government's mass surveillance program says he considers himself a patriot. >> being a patriot means knowing when to protect your country and knowing when to protect your constitution and your countrymen from t

nasdaq and nyse are in a battle for this ipo.ack to you. >> i have a feeling that may be one of the most used in the next couple of months. >>> there could be big changes for about 45 million men who have been prescribed cialis. what's going on? >> hey, brian, so, announcing today an agreement to pursue regulatory approval of an over the counter version. right now, it's only available by prescription, but this would change that. you'd be able to go in your pharmacy and pick it up off the shelf. about 45 million men -- also say that more than half the men over the age of 40 also suffer. sales of that drug, $2.61 billion in 2013 surpassing viagra at one point, that lost a little bit of patent protection in europe last year. pfizer at different times, has been said to have looked at this over the counteroption for viagra and they wouldn't pursue this until the patent protection expires in 2017, but this is a tactic that a lot of big drug companies use, they try to take it over the counter, basically bring back the sales to themselve

let's get out to bob pisani at the nyse. rick santelli is in chicago. a and ricky, you're giving today's 30-year auction a "d" minus. what went wrong? >> reporter: what went wrong is a by bit of a buyer's retreat with all the appetite of late, mostly all of 2014, for long maturities like 30-year bonds. so indeed we had an auction where, you know, i tried to grade the demand. and this auction right before it ended was trading in what we call one issue around 340. it priced at 3.44. it was a very weak auction and we've seen yields spike. they've already moderated. we don't want to take our eye off the ball here. we're still close to the lowest yields since june. but it really questions, has the run for long-dated treasuries in 2014 ended, or has it taken a pause, or are investors thinking the weekend's coming and there's been enough supply the last several days? >> the weekend still a day and a half away, surely that's not a good excuse. thank you, rick. let's send it over to bob pisani. we are off the highs of the day, but there have been positive develo

. >>> a live look at the opening bell on the nyse. the dow industrials hit another all-time record yesterday. here is your bell and then over on the nasdaq, as well. viggle, i think one of the real housewives if you look really closely as the nasdaq gets under way. this is the first of may, it's thursday, may 1st, this is "today in the bay." >> i don't want to know why you know that. >> i looked it up on the press release. >>> all right, good morning, everyone. i'm scott mcgrew. >> i'm laura garcia-cannon. we're following crews in southern california getting ready for another fight as strong winds, wind gusts, rather, threaten to whip up a fire they have been threatening to put out since yesterday. the fire is burning in san bernardino county. so far it's burned more than 1,000 acres. at one point, officials say wind was blowing up to 70 miles an hour, spreading embers across the hillsides. more than 1,600 homes were evacuated but those orders have since been lifted. >>> certainly dealing with the weather there and check our own forec

if you look a lot of stocks on nasdaq and nyse, they depend heavily on chinese consumers. that is where the action will be. liz: yu-dee, i don't see you picking chinese stocks. i see you picking companies with exposure to it. for example, tesla. that is momentum play that pulls back. you like it now. they will be big sellers in china at some point. what do you like about tesla that makes you unafraid of getting in here? >> like you said, automobile sales in china is very strong, gaining 10% a year. tesla as well very popular in china but never made a concentration into china. once they start to make the effort not only china but see european sales has been up also, that's why i like tesla. also concerning the fact it has gone through a correction already. i think that bows back to what you were asking. i think in today's market, don't chase high-flyers, buying the dips is the way to go. david: ken, i want to talk about treasurys because there was there rush to treasury when the market kept going down. do you think that's passing a little bit now? >> well, you know, thing a

. >>> now to bob pisani on the floor of the nyse. what does the market want to see tomorrow, and as steve so aptly outlined, the numbers that we saw today, what does the market make of that? >> first off, the numbers today, personal income and spending were very good. savings rate's a little low there. so people are spending and not saving much. but are getting more income quickly. i thought the ism number was excellent as well. what they want from tomorrow is another strong number. they want 250,000. that kind of number. >> that would be ideal. >> something that really shows things. realistically, though, if you get 200,000, i think 215,000 recei steve was mentioning is the consensus number, that may be good enough for the market to move at least sideways to slightly on the upside. remember, it's not so much about the direction. we know the direction is slowly up. it's about the pace of the direction. >> absolutely. >> they want a little steeper curve because you're going to need that to significantly advance the market. >> bob, tha