rick tyler, how much more money do you think is needed to president the presidency this time with bothampaigns basically firing on our guns? >> he could easily see upward of all the spending amounting somewhere close to a billion dollars. i would go back to -- a vision will trump the money. i think tad framed it exactly right. if you have a candidate who can actually say, "i have a vision to get us out of this mess. how can we move forward and create jobs? what is our vision for the future?" people will sign on to that. money will come secondary. absent a void, money will be the deciding factor. that would be unfortunate. >> ifill: it's fair to say post convention when everybody starts from zero again, the flood gates open again. rick? >> absolutely. i don't see a change in course of direction at this point. >> ifill: tad? think what we're going to see is massive spending. any money left over from the primary because nobody has accepted public funding can be rolled over into a general election campaign. i think we'll see very loud campaigns on both sides. the big difference i think thi

back to you, tyler. >> rick, thank you very much. to jackie deangelis now with more on halliburton. >> hey, ty. shares of halliburton have resumed trading in fact. right now they are tratd e trading slightly higher. we saw they were at 2% about higher before the news came out. the news was an operational update revealing hal will see margin impression in the second quarter due to higher commodity costs. we also saw the rest of the oil services taking a dip on this, but we're seeing them rebound as well. slumberger and nabors, getting hit at the moment that the news came out a little worried about spillover there potentially for these companies as well. ty. >> jackie, thank you. low bond rates leading to record low mortgage rates and that has mortgage applications up more than 1% in the most recent week. refinancing activity also picking up. so who's cashing in and who's not? diana olick knows. diana. >> that's right, tyler. it's in the refi space no question. borrowers and smaller lenders are getting a boost from these low, low rates

rick? >> well, thank you, tyler. you know, obviously, it is the end of the quarter and also a friday.h very big events for trade earls. so let's look at the two markets i'm paying attention to. look at a one-week chart, it is a nick on the week. last week 1.67. let's call it a draw. but boy, open that chart up to the laft day of march and it was huge quarter for rate drops. we were at 2.21 last day of march. currently at 1.65. we are talking 56 basis points. that's humongous and the lowest closing yield on record or any records and considered ancient times and 145. the dollar index, well, today it's sunk. on the week down two thirds of a cent and open up that chart, we are up on the dollar index and many look at this chart and say looks a bit toppy. it's totally a statement of what you think is going on in europe. ty, back to you. >> rick, thanks very much. >>> despite europe's new deal today, the euro zone is a concern for businesses with big international exposure. our chief international correspondent michelle caruso-cabrera joins us with a special guest. >> thank you so much. lead

tyler back to you. >> rick, thank you very much. it was not a health care ruling, but there was a key ruling that came down from the supreme court today. that was on arizona's controversial immigration law. it is a hot political issue as well. john harwood has it covered in washington. >> remember, four key planks of the arizona law were ruled upon. three were struck down, one was preserved, the one that allows police to stop and check the immigration status of people they suspect being here illegally. what you saw from mitt romney, was trying to take the focus, after taking a tough line on immigration in the primaries, now he said today's ruling underscores the need to have a president who will work in a bipartisan fashion. that's a softer tone. president obama interestingly spot lighted the part of the law which was preserved by the court, because that is offense i have been to hispanics. he's saying nobody should have to live under a cloud of suspicion because of the way they look first of all, arizona itself, which the obama cam

tyler. >> all right. two dogs in a row. rick santelli, thanks. political implications of the health care decision are massive. in the middle of the presidential race, of course. the president and the governor spoken in the last 90 minutes or so. john harwood is at the white house. >> reporter: it's a vindication of the signature domestic policy achievement of president obama's first term. he believes deeply to assist millions with the health care, cut costs in the long run. help the economy. he came out and made a statement hailing the ruling and acknowledged the politics may not be great. >> i know there will be a lot of discussion today about the politics of all of this. about who won and who lost. that's how these things tend to be viewed here in washington but that discussion completely misses the point. whatever the politics, today's decision was a victory for people all over this country whose lives will be more secure because of this law and the supreme court's decision to uphold it. >> reporter: now, of course, mitt romney is hoping to ta

tyler back to you. >> you can bet on that, rick santelli, thank you. >>> tesla's new "s" car hits streets today and soon say "look at that s car go, phil lebeau. >> this is the most highly anticipated new car to launch mainly because not only what it says for the electric car industry but tesla. look at the model s, a lot of people are focusing on the price point, between $57,000 and $77,000 and the range and how many miles per gallon the equivalent this vehicle can get. it can go up to 265 miles fully charged but the more important thing, this vehicle as it goes through the manufacturing process, the first delivery starts today slightly ahead of schedule, said they'd do it by july. they have 10,000 ordered. 10,000 or 5,000 test drives, will start with existing customers this weekend but the more important story, the one that wall street is focusing on is what happens with tesla's manufacturing from here? they've already said they plan to deliver 5,000 model ss this year. i talked a few minutes ago with the chief designer at tesla and he says with he we're not only meeting the 5,000, theyre optimistic t

now to rick santelli for the solutions on the whole europe mess. take it away. >> thank you, tyler. we'll talk about sweeteners. i didn't pick sugar, i picked sweeteners. i think everything they've been doing in teurope is a sweetener. it used to be cds and banks put out. you get a sweetener, a participation on the s&p index, should it move higher. sweeteners. now, back to gold. we already talked. ira harris and i thought the solution is gold. greece has 111 tons, $6 billion, spain, 281 tons, $15 billion, italy, get this, 2400 tons, $123 billion. you don't need to back your bonds 100%. let's say you leverage it by a factor of 10. back then .1 andy spain 150 billion and 200 billion for portugal. 1.23,ian for italy, not including france, germany, if they want to help, kick in a few gold reserves. tie it back to gold, sweeten it up, leverage it up in the best part should buy you one 0 two years. for the first plan, write a constitution, the second year, get the countries to ratify it. that's the short plan you took when you didn't pass the constitution in '05. back to you. >> interesti

rick, thank you very much. as we move now to some breaking news coming out from general motors. let's go to phil lebeau who has the details. >> tyler, this is a major move by general motors to cut its massive pension obligation. the company announcing it's offering a lump sum payment to 42,000 salaried retirees. the impact of this depending on how many take up the company is that it would be a net charge of $2.5 billion to $3.5 billion in the second half of this year. more importantly it could reduce pension obligation by $26 billion. that's the reason you see a huge spike in shares of general motors. gm retirees have until july 20th to decide on the lump sum payment. guys, this is a major move by general motors to use some of that cash that it has to reduce its pension obligation. guys, back to you. >> all right. phil, thank you very much. this on a day gm reported double digit sales gains by the way. coming up on "power lunch," president obama in golden valley, minnesota, right now getting ready to speak about jobs and the economy. we're going to carry his speech live as soon as he begins. before the break though, according to in