they are working with paypal. when, in fact, somebody has used paypal's logo and is impersonating them for scamming purposes and fraud. that happens. that is something we want consumers to be aware of. >> reporter: here is the final tip. do link your paypal to a credit card. that adds another layer of fraud protection. if you are scammed you can dispute it on two fronts making it more likely to get your money back. pete muntean, wusa9. >> all good things to know. >>> all right, let's go back to our poll question. our megapoll question. should there be a national registry for service dogs? 95% of you say yes. 5% say no. >> that seems easy. >> how are you doing with your numbers? >> i'm not disappointed. i thought we might have a bulls eye, we are okay, but didn't have a bulls eye. >>> here we go, we went for a high of 78 and it climbed awe the way to 80. we are going for a high of 69 it is 68 now. very, very dry air mass. notice the winds have calmed down. they are now pretty much calm. when you have clear to partl

demonstrators gathered at paypal headquarters in san jose. they say paypal does not serve palestinians in the west bank but does serve israelis living nearby. the group calling itself paypal for palestine says people living in the west bank want to take advantage of the money-sending system. >> the reason we're here is because palestinians don't have access to paypal. tech workers who are trying to support their families but are unable to do so to the extent that paypal would be able to facilitate. >> a paypal executive came out to talk with the group saying the company is working on a solution, bringing its service to that region. demonstrators say they'll check back on may 24th, the day of paypal's shareholder meeting. >>> company companies with strippers, degrading comments about women inside the office, just some of the claims that a female tech worker is making in a shocking lawsuit filed against a bay area tech company. our business tech reporter scott budman joins us with a copy of the lawsuit. it's hard to believe that this kind of st

when they split apart in to 2015, it was easy for people to say ebay is good, paypal is bad. less attention. >> do you view the estimate as big too conservative because now, you have the funding mechanism where customers can go in and choose their own methodology. which is something unique, they did not have that prior i would believe that's going to accelerate earnings gorowth ove the next koim of years. >>. >> i think a reasonable place could be in excess of 50% long-term. it's very substantial amount. >> we didn't explain this well. your premise is that papal has this sweetheart deal with ebay, which lasts until 2020. so they have to have the payment platform on their site, 200 million users. paypal and then they lose that sweetheart deal and you're calculating how much business is going to walk out the door when ebay is automobile to do their own transactions. >> that's correct. >> would this be like when costco loses, when american express loses costco? in other words, they had that deal, obviously, you followed that as well. >> this is bigger. >> it's not 280 million. w

earlier today we got to sit down with the president and ceo of paypal. take a look.e could talk about outperformance on the sales line, we talk about outperformance on the profit line, i want to talk about demock advertising money for the world. that's why you're beating the numbers? >> we had a great quarter, as you saw, revenues grew 19% on a quarterly basis, we exceeded the street expectation and generated more than $600 million of free cash flow, but the thing that i am most proud of are our customer -- that was up 35%, from the quarter a year ago. and we thought the quarter a year ago was pretty good as well at 4.5 million, so not only are we adding more customers burks they're using it more frequently, now 32 times a year, up from 28 a year ago. and a lot of that has to do with what you're talking about, a different way of imagining a value proposition, for consumers that takes advantage of software and mobile. >> some people look at the model and say that john ledger is done with t-mobile, which is the unnetwork, the uncarrier. you are the unscholastic. it see

paypal is the 800 pound gorilla in the room when it comes to mobile payments.ame league as applepay. basically, users will now be allowed to use the app to shop at 4 million merchants in the us. that is quite significant. the chinese billionaire that owns alipay has declared his intention is to expand his business empire globally. he is looking at the us, the world's biggest consumer market. in china, alipay already dominates the mobile payment landscape, together with rival they account for most of the market. if the foray into the us is successful, they can expand into other countries where they don't have a presence. it's a smart move, we are seeing increasing numbers of chinese travelling each year and they will be able to use alipay to book cabs, hotels and so forth. interesting, we will keep an eye on that. lets see how markets fared. japan down by 0.25%. a mixed picture in asia. most markets down slightly because the previous day was such a strong start to the week. 0ver because the previous day was such a strong start to the week. over 2% gain on monday

. >>> a battle between the bay area companies and the legal feud between paypal and pandora. w...that not only made a a big first impression... ...but was designed to withstand sunlight this bright... ...this bright... ...or even this bright. if a paint could protect your door's color against the strongest uv rays... ...it makes you wonder... is it still paint? aura grand entrance from benjamin moore®. only available at independently owned paint and hardware stores. there is a place where heroes so, what's the plan? breaking out the guardians, pal. celebrate the summer of heroes, only at disneyland resort. hero up! ♪ ♪ ♪ >>> welcome back to mornings on 2, it is 6:22 am. >>> a fight at the pelican bay state prison in it was six people in the hospital, designed to hold the most serious criminal offenders. started as a fistfight between two inmates but the guardsmen then to break it up with pepper spray and batons, dozens of inmates begin to attack the guards. that led to the other guards firing from the gun towers. eight guards and seven inmates were hurt bad enough to need tre

paypal on the left. the logo similarities are confusing customers with some mistakenly opening the wrong app on their phones. paypal says it could hurt business. pandora, headquarters in oakland, says it doesn't comment on pending litigation. >>> t-mobile and sprint may be ready to join forces. they are the third and fourth-largest wireless carriers in america, speculation about a possible merger follows a dent in from execs of both companies. it could mean higher prices for consumers who have largely benefited from the pierce competition. any merger would having to approved by regulators. california is holding $8 billion in money, jewels and rare coins, some of it may be yours. >> 112 shares to dreyfus funds account. wow, this is wonderful. this is great to hear. >> 7 on your side's michael finney shows you how to claim forgotten stocks, bank account, life insurance benefits and more tonight on abc 7 news. >>> if you're headed to the sold out bottlerock festival, the tsa can help you get in faster. you

i never knew about paypal until my youngest daughter told me she was using it to buy things on amazonow why i wasn't. i didn't know about venmo. this is the digital revolution, when paypal is going to put the cash on your mobile or desk top whenever you want itted a wherever you want it. it's a business that's going like gangbusters, here's what you don't know about dan. some big-time cynical wall street analysts never stopped giving him a hard time, telling them that visa or wells fargo or google or a host of other strawmen who turned out to be good partners would destroy paypal. they have reiterated these claims all the way up and then one day they changed their minds when this stock went up a few points. they did the short sellers bidding and then ski dadled. i have lived through several downgrades by expedia. he's hungry, he's determined and he ee's winning with every divin coming on. that's the vision of a brilliant immigrant who came here with his family to escape the iranian revolution. right now you can tell any device to order or cancel flight or hotel reservation. what you r

paypal says it could hurt business. pandora, headquarters in oakland, says it doesn't comment on pending litigation. >> talk about fog in your forecast, mike what are you seeing? >> you can see it behind you guys. the fog not as thick as it was yesterday. the cloud deck itself is a little more widespread, just not hugging the ground as much. watch out for some mist around san francisco and along the coast. here's 280 at 17 and san jose. it's bone dry there. more cooling today and cleaner air, no spare the air day. average to below average so we're going to swing the pendulum back the other way thursday, friday, saturday and we'll see warmer weather for sunday into hom day monday today in san francisco below average, 62 downtown, daly city 58. sunset 60, mission about 66 degrees, one of the warm spots. 71 in oakland, almost average. castro valley 76. union city 76. san mateo 73. mountain view as you head into the south bay 76. half moon bay 59 and pacifica 57 with clouds being more suborn there. santa rosa 83 but the clo

prior to joining paypal he pioneered technology to enable consumers to make payments quickly and easily using a mobile phone and with dawn mining gaming development he also worked as general manager helping to develop management software with customer payment products as a senior product manager at got to to help service says he also held to manage customers $1.7 billion in loans and whole say bachelor's degree and an m.b.a. from vanderbilt. [applause] our second panelist is currently vice president and senior vice president at genoa the tallis' psychiatry coming in to the acquisition of his company a city based tellus psychiatry company he and his team have built the technology for the company from scratch treating 50,000 patients across the country was the president of signature health care and to do health care service companies that he started. these two endeavors have grown from two employees up that over 150 all improving access in in markets. from 2010 through 2012 the director of planning a 150 ben health system redesign danville a model across three states his career began with

people to donate money to them and prprided a link toto how they c could donatate moneyo them by paypal or to their bank accounts and other information. ,n response to that article specifically in response too my ananchor urging peopople to done money to wiki leaks, i had dozens of people, literally dozens and dozens in various , and the comments section, events like this say to me essentially something along the lines of, look, i concur completely with what you wrote about t wiki leaks, ii see the value in the work they are doing in the proromise they hold. i definitely want to support them. my fear, though, is if i wire money to wiki leaks or use paypal, i will end up on a government was somewhere. or even w worse, if at some poit wiki leaks is formally decreed to be a terrorist organization i could be subjected to l liabili, criminal liability for materially supporting a terrorist group. these are not people prone to weird conspiracies that you hear from occasionally. these are very sober, rational americans. the reason i found that striking is because these were american citizens wh

you can buy with it the credit card or pal paypal. a lot of them are using bitcoin.. he told me about the struggle. he made cock tain of methamphetamine that he would inject that the arms and lost both arms. >> red, the attic chasing the drgop is the title of the sent and going after the next high. you will have diminishing return. >> re. yes do you. it shows you how resourceful they can be we can get this them to the other side and get it. leak you said, we can get those that they got and doing something good for society. it is going to be worth it. >> another great week of chasing news. thans for watching in honor of our executive producer, how about an irish good-bye? >> it is not what you hear on the news every night. ♪ ♪ ♪ ♪ complete disaster. these are a bunch income tent fools and they ought to be fired. ♪ (sniffing) (sniffing) (crunching) (munching loudly) (sucking pacifier) (panting) (whimpers) (disgusted growl) ♪ (grunts): hmm?

and the cofounder and ceo of paypal as well as ceo of affirm.re and the atlanta falcons owner and the home depot cofounder arthur blank joins us as well. we kick it off this hour with this. president trump continues foreign trip meeting italian leaders and the pope. fox news' chief correspondent john roberts in st. peter's scare with the very latest. good morning to you. >> maria, good morning to you. given the history of the two man with each other tweeting comments back and forth and public statements as well when the pope said that it wouldn't be christian to build walls instead of bridges and the president called that language disgraceful. it was a pretty formal affair. the pope didn't seem to smile but was cordial but by the end of it when president trump brought in melania, ivanka and jared and the secretary of state rex tillerson and h.r. mcmaster clearly any ice that remained from their public feud with each other over a couple of items had thawed. -warm handshakes and smiles all around and they did talk about a number of different issue

been a founder to be a senior executive at paypal, a high-growth committee. he has a commitment to put customers first by delivering the best possible products, a value that resonates with doctors on demand. before joining doctors on demand, ferguson transferred pay paul into a technology-focused company, and serving as the chief product officer. prior to joining paypal, hell was vice president -- hill was vice president of a company that enabled consumers to make komen -- payments quickly. he built a vast network over 250 applications operated in 250 countries. he also worked as general manager at a company where he developed personal financial management market -- software. hea manager at yahoo, created the finance website and drifted a friday a payment services. $1.7lped consumers manage billion in loans. hill holds a that first degree from vanderbilt. let's welcome him to the stage. [applause] mr. ferguson panelistd palace is -- came into a roll through his acquisition of one company, a city-based company. he served as ceo. the company expands access to h

paypal has been at a new high. it seems people are not paying for, you know, here and now earnings. in the right place in terms of broad changes. i will say first quarter is the strongest of the four for square, some seasonality there. speaking of a note, make a grade valuation. >> no, but it is interesting, here they're continuing to report a loss but the idea is they're able to kind of leverage what they already have by getting more, you know, stations across the country but also, of course, by doing lending and different times of things, doing small business services, which is a big part of the story. it is almost like you pick -- i know this is the market but, you know, one quarter the street hates that story and thinks they're going nowhere, and three-quarters later they're up another 5%. >> i think the whole idea of becoming more deeply embedded with the customers is there. we also are assuming this space will be consolidated up at some point down the road. it is not an immediate part of the story, but paypal and all of the rest along with square has potential to be. >> kwee h

emily: between apple pay and paypal -- what does this look like in two years?ah: there are market trends that are holding all of us. the shift to using electronic payment and card instead of cass and check. the in the last five years u.s. has made a big shift there. thinking back to signs that say we are cash only. that is becoming less and less viable. are going in and they don't have cash on them. u.s. amazing to me in the how low the penetration is of contactless payments. that, but itlow to will happen. it is an inevitability. when i look at the environment opening up, i think that is good for all of us in the technology excepthelping the seller anything, and having the buyer have a unique experience. emily: you mentioned caviar. square once tried to sell caviar, but it seems very much on the table in terms of something you are building out. what is the future of caviar, and will we see more of it? sarah: it is reminding the strategy of why. when we look at the vertical of food, square is very strong going into quick service restaurants. when we go into ful

payment companies built up between you guys, obviously v a visa, mass tr card all the way down to paypal and square, what's actually going on that the market thinks it's going to create a lot of value with that kind of tier in terms of transaction process? >> you're moving away from payment processing which is a very core fundamental technical talent to value added services. if you look at what we've done with the front of the store and what our competitors have done, will's a lot of market share opportunity and organic growth in bringing technology to business and i think that's why people are so committed to the growth in these industries. >> we can't have you here and not ask about crypto currency or at least bitcoin this month. are you threatened by sort of the increase in valuation over the past, say, 30 days? >> i want to take a 30-day valuation and consider it paranoia. i think we've always looked at enabling commerce. we've also spent time watching where unovation occurs and we're prepared to invest in innovation and we've done that in a bunch of ways. our job when they have real

emily: had you see the landscape evolving between apple pay and paypal -- what does this look like inwo years? sarah: there are market trends that are helping all of us. since i joined square, the shift to using electronic payments, cards instead of cash and check. that has been going on for decades. even in the last five years the u.s. has made a big shift there. thinking back to signs that say we are cash only. today that is becoming less and less viable. your buyers on walking in -- are walking in and do not have cash on them. i want you to be able to do more with your device. it is amazing to me in the u.s. how low the penetration is of contactless payments. being in australia, 70% of all payments happened with cash. the u.s. is slow to that, but it will happen. it is an inevitability. when i look at the environment opening up, i think that is good for all of us in the technology space, helping the seller to accept anything, and helping the buyer have a unique experience. emily: you mentioned caviar. square once tried to sell caviar, but it seems very much on the table in terms of

he also did reveal his business ties to paypal copoupder peter thooel goldman sachs. the forms will be revised. the "wall street journal" quotes ethics experts who say kushner should rekeyes himself from issues involving lenders as well as business ties. >>> more than half of the relievies that protect northern california from flooding is are failing we vgt what that could mean for us here in the bay area. >> campers trailers and a race car all on the property all stolen. tonight who sheriff's deputies arrested. a ripped off racecar now "recovered." this is part of a bigger crime ring. >>> right now at 6:30 a ripped off race car has now been recovered. this is part of a bigger crime ring. plenty of cars stolen. and then stripped. and now there is an effort to identify some of the cars other thanes. >>> damian trujillo in the santa cruz mountains to give us more information. >> reporter: investigators have been trying to track down a stolen race car more than a month. they found it and whole lot more thanks to a property manager up here in the santa cruz mountains. thi

paypal, mastercard, visa, first data also just smashing the s&p's return year to date.money transfers are especially hot. the venmo and square cash apps of the world, even apple may be looking to get into this game with a similar offering. now, after earnings yesterday, we did have the chance to sit down with square cfo, sarah fryer, and get her take. >> i think there's tons of room. if you look at p to p, still so much happens in just cash and checks. that's the bigger market opportunity to go after. >> the thing, though, is p to p money transfer serves are typically money losers. we also asked friar some trading activity. this year jack dorsey has sold more than $30 million in square stock and buying $10 million in twitter stock. here's what she said. >> jack receives very little other compensation from the company so i think it's totally appropriate that he would begin to diversify. so i don't view it as selling one to buy another, i view it as him diversifying. he still has massive ownership of square, so very much aligned to growing our company and that will akrccr

you see master card and visa and paypal? these won't quit. i'm sanguine that they're a sign of not weakness. and mcdonald's and yum and starbucks. these are three classic growth names that have all the same concerns, labor costs going up. strong dollar liabilities, but that we're all hilting the new -- hitting the new high list and let me address the banks. that are two sore thumbs and the retails and the oils. first i never liked to see the bank stocks down. i have told you they're key to the rally. nevertheless, if a couple of them are down because of trading i take heart. that's because they're only a few of the 4,000 banking institutions that make big money from trading. now, these two are not worth selling the group down on. but the group trades at like a giant etf. the oils if you own them it's deathly. what can i say? there's too much oil. i think the group has already gotten pretty cheap. the oil represents value here. and that's not a sin. oil and crude at $48. goes to 45, $44 i'm going to tell you to buy, maybe even big. finally, re

i'll get him back. [ light laughter ] hey guys, i saw that paypal is suing pandora because their mobile" logo. look at that. [ audience ohs ] they're actually not the only companies dealing with lawsuits about their logos. >> steve: really? >> jimmy: no, for example, panera is being sued by donald trump. [ laughter and applause ] >> steve: wow. you wouldn't think it. >> jimmy: next up, starbucks is being sued by beyonce. >> steve: yeah. [ laughter and applause ] >> jimmy: i can see that. >> steve: i can see that. >> jimmy: next, gerber is being sued by jeff sessions. [ laughter and applause ] >> steve: well -- i'm a little keebler elf. >> jimmy: and finally, targe which is being sued by pinterest which is being sued by target. there you go, everybody. [ cheers and applause ] we have a great show, tonight. give it up for the roots. [ cheers and applause ] ♪ >> jimmy: thank you very much. that is a hot crowd. [ cheers and applause ] that is a hot new york city crowd that you're hearing tonight. thank you for being here, everybody. oh, i love when there's a hot crowd. guys, it's been a gre

i think you want to buy paypal. >> e-commerce? >> i'm saying.uys actually have expected better growth at a cheaper valuation. >> there we go. >> you guys familiar with kei$ha? >> yes, time does not permit me to do that. tim. wise guy. but i love visa, vi$a. >> what i to go, pete! >> all right. >> did pete pack enough heat so you can buy these? we want to hear what you have to say. hurry up. you have ten minutes left. also, bitcoin, the commodity, dennis gartman says the run could end in quote chaos and tears for investors. he will explain why when "fast money" returns. welcome to holiday inn! ♪ ♪ whether for big meetings or little getaways, there are always smiles ahead at holiday inn. >> welcome back to "fast money". digital currency, bitcoin has been on a tear this year after going up a whopping 103 ', in january. he joins us to break it all down, dennis gartman, you had some stern warnings, it will end in chaos, tears, et cetera. what are bitcoin believers not seeing? >> well the whole precept owe bitcoin was it was supposed to be a new prici

facebook, paypal, broadcom. >> there are about 30,000 functions on the bloomberg.yed showing you our favorites on bloomberg television. maybe they will become your favorite. here is another function you will find useful. quic . it will take you to our quick takes, where you can get fast insight into timely topics. here is a quick take from this week. pres. trump: everyone is listening to you now. you came by the tens of millions to become part of a historic movement, the likes of which the world has never seen before. >> u.s. president donald trump's victory is part of a new wave of populism sweeping through democracies of the world. what differentiates populists from mainstream politicians is they claim they alone represent the will of the people as a whole. that allows them to dismiss any opposition to themselves or their policies as an attack on the popular will. modern populists often take this approach as they tap into the backlash against immigration and globalized economies many voters feel have left them behind. here is the situation. unlike most ism's,

everybody keeps saying the competition is in the payment space and me miss mastercard, visa and miss paypalare. i think that jack dorsey should ring the riegister. he should say, i.. i made it go from 11 to 22. sarah is in charge and he has been full-time for twitter. it has to happen. i do like square. we use tab. it is a very good product. erik in new jersey. >> caller: hey, jim. how are you? first time caller, long time listener. my stock is viacom industries. want to know if it is a good time to get in? >> i don't know. it was not a regular myth. i would hold off on that one, it was a nasty miss. they have to do better before i would commit. that is the end of the lightning round. >>> the lightning round is sponsored by td ameritrade. you know that thinkorswim seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to go! the market's hot! sync your platform on any device with thinkorswim. only at td ameritrade ♪ >>> has this rally run out of steam? the market took off like a rocket after the appointment of a special prosecutor to loo

involved in some of the biggest venture capital startups since you were an intern, you worked on paypalyou have been doing this for a while. health care may be the last industry to be disrupted by technology. hard to marry health care and technology. our opportunities emerging now? >> it is an important question for everyone. health care costs are skyrocketing. we will be in trouble. i would definitely say yes, there are a lot of ways in which technology and health care are intersecting in ways that were not popular even five years ago. >> while there are a lot of machines in the medical center next-door, health care is a deeply personal relationship between someone and their doctor. >> you want people involved and i think we will always have people involved in health care. how much you can get her doctor and how much you can spend on drugs, how much you can figure out in -- a technology to need fewer nurses and people. those are all things data can help with. >> data is a big opportunity but also a big danger. americans do not like people to look through their records and with all of t

also doing a hearing like this you're probably with eric schmidt of google, ten showman a paypal, bill gates of microsoft, get those voices. you're probably doing that. >> i wanted to mention the pushback that jay johnson and secretary of homeland security god from state election officials when he attempted to engage with them. particularly in the issue of our voting apparatus as part of our critical infrastructure. there's a lot of suspicion, whatever it is pushback at the state level and local level about the feds getting involved in things. just another manifestation of the reluctance of the private sector to engage. >> the last point to the states we have not talked enough about the states and their role. i'm joined today by dave who is the head of cyber for the state of new jersey. the have a hub and spoke with the federal government. we need more of that to break down the pipes in this area like we try to do a law-enforcement. >> thank you mr. chairman. thank you for having this hearing. lucy goes straight one of the ironies of working here which is that we are discussing one of

and also doing a hearing like this, you probably are with eric schmitt, of google, dan shulman of paypal, bill gates of microsoft, get those voices -- you're probably already doing that. >> i do want to mention, senator nelson, the pushback that jeh johnson and secretary of homeland security got from state election officials when he attempted to engage with them, particularly in the issue of including our election -- our voting apparatus, very large, as part of our critical infrastructure. so there's a lot of suspicion, whatever it is, pushback at the state level and local level about the feds getting involved in things. just another manifestation of its reluctance on the part of the private sector to engage. >> can i just pick up the last point? the states. we haven't talked enough about the states and their role in all of this. i'm joined today by dave weinstein, the head of cyber for the state of new jersey. they have a hub and spoke relationship with the federal government. we need more of that, break down those stove pipes in this area like we try to do in law enforcement. >> amen.

the government created a mix mash of paypal, g-mail, i give you the e-mail address, and there's infrastructureayment options in a way that's probably five years ahead of the u.s. already. >> bobby, thanks for coming by. appreciate it. >> my pleasure. >> thank you. good luck, and congrats on making the list. >> thank you so much. >> check, please is next. will you be ready when the moment turns romantic? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis. it's been over 100 years since and get medical help right away. the first stock index was created, as a

let's include paypal. let's include visa. the mastercard quarter was magnificent. square is real.ompany. >> yeah. very interesting quarter, jim as you say, important one for the company. he's still running both companies. i don't know, can that just continue forever? you know, at some point does he say, well, look what i've got going here. i mean, some point maybe the market cap of square may eclipse twitter. it's not that far away now. >> i own this -- i own this restaurant. tomorrow is cinco de mayo. we use all the products in square. they have a caviar product that you have to let people -- look, you have to deliver food. grubhub had a great call. one of the things that square -- square is smack in the middle of everybody who trying to deal with this notion of hey, the customer doesn't want to stay at the place. they want to take it out. in the meantime, the customer -- as a small business person, you want that low rate that they give you with the swipe of a card. this is also for people who are in business, the smaller businesses, that tim cook talked about, square is the de f

>> the way the world has changed, expedia changed travel and we have paypal which changed payments.can't get this stuff unless you come out here and that's why we do it. >> very good, jim. david, a lot to get to from you guys out west. as we've been saying all morning long, it is a big day on capitol hill. we're going to watch oscar munoz testify before the house transportation committee. house speaker paul ryan is getting ready to speak at the weekly gop house leadership news conference. we'll take you there and give you the latest. welcome back to "squawk on the street." i'm carl quintanilla. sara eisen life at post nine, and david faber with us from the milliken global conference in l.a. and will continue to be with us this hour. the nasdaq puts together another record high, watching the balance between large cap tech and industrials, cummins opens up about 8%, ten-year treasury yield coming off of the highs for the morning after we got some tweets from the president about the intricacies of putting together this government budget. >> "good shutdown nigmight be needed." coming up

>> they are buying your paypal moment i'd europe, small caps in your head >> expecting a lot of growthgen: it remains to be seen whether macron can implement these reforms and policy changes he ran on. balancing the private worker economy with government accounting, government jobs, cutting the corporate tax rate to 25% and getting rid of the 35 hour workweek which past presidents have failed to do and really rejuvenating and reviving the french economy with some pro-market, pro-private business reform. maria: how do you do that with the year in a seven-month high? that just makes things more expensive. >> european gdp isetter than our gdp right now. the ecb hasn't tapered yet. that was another thing markets anticipate the election goes well, draw people take that kind of thing. don't forget again, they are pretty much full force printing money and europe and their rates vary again a 10 year 40 basis points this morning. they've gone up a little bit, but still tolkien negative rates out there. dagen: there's an article in "the wall street journal" "wall street journal" about what's goi