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liberty mutual insurance. >>> time now for business before the bell with cnbc's sara eisen. the economy when it comes to consumer spending, which is really the backbone of the u.s. economy. it turns out u.s. consumer spending in the month of may jumped 0.9%. actually that was the biggest increase in six years. haven't seen numbers like that since august 2009. it is further confirmation that the economy is coming out of this deep freeze that we saw in the first quarter of the year and is rebounding nicely into the second quarter and into the rest of the year. we also learned that personal incomes of americans rose 0.5%. that was pretty much what economists were looking for. it's in the right direction but still not enough as you have been all over the stories of higher wages and incomes we need to see in this country. so the better spending number is helping lift markets but yet again lots of anxiety over what's happening in greece. deal, no deal. basically we're in another situation here where the europeans are locked in last-minute, down-to-the-wire talks with the greece. a

i'm sara eisen. melissa lee back next week. for >> my mission is simple -- to make you money. level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it. "mad money" starts now! hey, i'm cramer, welcome to "mad money." welcome to cramerica. other people want to make friends, i just want to make you some money. my job is not just to entertain but educate and teach you. call or tweet me. another day of hope about the talks in greece, based on absolutely nothing. not a shred of reality which is

i'm sara eisen. melissa lee back next week. for more go to our website, optionsaction.cnbc.com., "fast minute." >> announcer: the following is a paid advertisement for the revolutionary 21 day fix, brought to you by beachbody. >> thank you! [ laughs ] hello there. i'm tom bergeron, and this show is about transforming how you look and feel, starting right now. >> announcer: are you struggling right now to lose weight? >> i've struggled with my weight my entire life. >> i really want to... lose this. >> i didn't want to walk down the aisle weighing 220 pounds. i need to do something, and it needs to happen right now. >> announcer: now there's a breakthrough new way to lose those pounds and inches, and it happens in just 21 days.

i'm sara eisen in for kelly evans. bill will rejoin us in a moment.age ending up three triple digits there. s&p 500 up 0.6%. nasdaq closing at a new record high. 5132 is the record to beat. we did that at 5153. russell index also closing at a record. let's bring in today's panel. >> amazing we are talking about a new record for the nasdaq on a day we were talking about the possibility of a greek default and exit from the euro. are equity markets pricing in this deal? >> they absolutely are. if we truly get some kind of positive development tonight out of this emergency summit there is more room for equitys to rally. there is more room for europe to rally. you have a number of companies that have been implicated by greece. i think the underlying fundamentals don't matter. if you look at industrial names, if if you look at euro stocks 50 this has room to rally. what happened today in housing numbers that were very good multiyear highs on housing. first-time buyers stepping back into the market. you've got the fed and greece out of the way. there is room

time for the business for the bell with cnbc's sara eisen. >> sara has newed that's going to wipe thater, but things took a turn for the worst over the weekend. here's what happened basically, the prime minister who was elected to try to end some of the austerity pain for the greek people, in the middle of negotiating with the europeans, decided to make a surprise move and call for a referendum. next sunday july 5th where he's going to let the greek people vote themselves on whether they should take this bailout package with some of the austerity measures attached. the problem was this totally blindsided the europeans. now the europeans are saying it's a slap in the face. they're making things hard for greece and we may actually i know we have been talking about it a lot, the greek exit from the euro we may be looking at that scenario depending on which way the greeks vote on sunday. >> what kind of cliff are we on the edge of watching this? >> we were -- the greeks were on a cliff. now, they're staring down at it. if they vote no we don't want to take this bailout package, that could

i'm sara eisen. melissa lee back next week. for >> my mission is simple -- to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it. "mad money" starts now! hey, i'm cramer, welcome to "mad money." welcome to cramerica. other people want to make friends, i just want to make you some money. my job is not just to entertain but educate and teach you. call or tweet me. another day of hope about the talks in greece based on absolutely nothing. not a shred of reality which is why we gave up gains at the echbd with the dow closing 56 points and nasdaq plunging 0.62%. nike almost single handily pulled the dow higher with its flawless execution they over came a slow down in china, sinking europe so-so market in u.s. to put up amazing markets everywhere. nike delivered a clinic on the top and bottom line. the ladder helped by their amazing director consumer business not only that but its ceo mark parker the leader of this company refuses to take any real credit for what he's done. he's all team al

sara eisen standing by at the exchange with the numbers. >> nike is lower.lmost a full percent ahead of this report after the bell. it's been weakening in the last few sessions. but nike stock is up 37% over the last 12 months. 9% this year alone. way outperforming the broader market. wall street is looking for solid numbers from nike due to healthy demand for athletic apparel and basketball shoes. the jordan brand has been very strong and e-commerce sales. for nike it's all about futures orders. that's the geographic breakdown, about what nike sees ahead. look for particular strength in china and europe where it's been eating into market shares of rival adidas. also the strong dollar impact especially against the euro. last time this weighed on sales heavily. this quarter it shouldn't hurt as much. and comments we get from management on the call about the recent marketing deal with nba and sponsorship of the women's world cup. both are seen as potential growth drivers for nike. our partners at kensho looked over the last five years and found out when nike d

sara eisen, am i to believe this is the biggest reversal intraday for the euro/dollar pair?close higher today. the currency market is sending a clear message -- we're not clear of a grexit. the euro dropped overnight, a 1% move up in asia. now the euro is up almost 1% against the dollar. why? european policymakers have tried to down play the situation with german chancellor angela merkel saying we need to compromise. if there is no compromise european bankers seem to have fully safeguarded any other problems like spain and italy. a grexit the thinking goes would hurt greece more than euro. european investors also seem to have confidence in the european central bank and its head mario draghi to do whatever it takes to save the euro as he promised. can you be a buyer of euros right now? well, if it may still be risky ahead of sunday's vote. that's according to top wall street strategists. just the uncertainty about what happens in or out. and it could still be risky after the vote even if the greeks vote to stay inside the euro, there is still no deal or even a road map to res

sara eisen is at the global summit in new york. has some interviews coming up.ust a moment but first we're watching things at the supreme court. one decision could legalize same sex marriage. we'll bring you the head lines as soon as we get them. s&p with a six-point gain. good numbers out of nike. not good numbers out of micron. the news is anything out of greece and china sellingover night. >> a big gain in consumer sentiment. remember, the bid june read came in at 94.6. the final read 96.1. how does that stack up? we all know? january we had the highest read back to 2004 at 98.1. if you pretend that didn't exist, this would be one of the strongest ones since 2007. solid read. expectations didn't change much. the one-year is 2 .7. five to ten-year is 2.6. the high >> thanks very much. three trading days left in the first half. stocks on the rise this morning following two straight sessions of losses but the watch is on as greek negotiations come down to critical meeting tomorrow. they have been given a monday deadline to break an impasse in debt talks with cre

. >>> mandy is out today but sara eisen is live at the nyse. we have full coverage of the health care ruling and reaction. but we'll begin this hour with a battle royale between boeing and lockheed. they are locked here over which company will get a $55 billion air force contract for the next generation of american bombers. boeing shares in the $142 range. there you see north up thererop grumman. >> all three players are involved but it's two against one, in the coming weeks the air force is going to award the last manned contract award for the next 20 years. it is possibly whoever loses may be forced to get out of that business. it is for the air force bomber. very secretive. we don't know many details but the hope is to buy up to 100 planes at a cotst of $550 million -- each. >> this is what we do. >> reporter: hoping to build that bomber is northrop grumman putting pressure on boeing's incoming ceo. northrop currently builds the fleet of stealth bombers. those cost $2 billion a piece and they're 20 years old. the new bomber would replace the

cnbc's sara eisen has business before the bell.her economic message is aimed at a decidedly younger audience. plus -- >> somebody talk to me! what is happening? [ bleep ]. >> the dinosaurs are back from the new summer blockbuster "jurassic world." actress bryce dallas howard is here with a preview. she's so nice. keep it right here on "morning joe." pick up the limited edition metallic droid turbo by motorola. water-repellent. up to 48-hour battery life and ballistic nylon back. that's your first "win." plus, it's only on verizon. the #1 network. there's your next "win." now for final "win." get $250 when you trade in any smartphone. and get 10 gigs of data for $80 a month and $15 per line. the win-win-win. a new way to save without settling. only on verizon. when a moment spontaneously turns romantic why pause to take a pill? and why stop what you're doing to find a bathroom? cialis for daily use, is the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the

sara eisen joins us with the woman behind the plan. >> why do this?eir own decisions without the regulations and warnings? >> consumers will be able to make their own decisions. we want them to know about single items that have a really high salt content. that's because the sodium in our diet is important to our health. >> i've gotten comparisons to mayor bloomberg's failed push to limit supersize sodas, the nanny campaign. why is this different than that? >> this is giving the patron of fast food chains and chain restaurants information that they need to make healthy choices. we are not telling the restaurants or chains to change their food we just want them to give patrons some information to make a good choice. >> the worry is what comes next? first the mandatory labels then what? >> well this is what we want to do because we have never done anything on sodium before. as far as i know this is new york city's first effort at sodium and the first in the country. so this will be information that will be really helpful to people. >> one of the other cr

time for business before the bell with cnbc's sara eisen. nth of april. that was a disappointment considering we also got numbers on incomes and americans' incomes have been growing. that was a positive number but the data suggests that people are saving instead of spend so the savings rate among americans is actually going higher which is a good thing but this economy is built on consumer spending it's more than three quarters of our economy and we need to see that pick up to get to a rebound in spring. it's the first in a series of market-moving data we'll get this week. tomorrow we'll learn whether americans are buying autos. we get auto sales numbers out. friday will be the jobs report, the broadest measure of our our economy is doing. economists are looking for another 200,000 plus gain in jobs last month so we'll see if that happens. there are a number of catalysts overseas we're watching including an opec meeting. obviously the oil market will be watching that closely. that's friday. and greece has another debt payment to the imf, hawe

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i'm sara eisen in for kelly evans. off the highs, but eking out a gain. much, but we did go over the edge. a new record for the nasdaq. dow finishing up about 25 points and s&p 500 not moving a whole lot. john fortt is here and steve grasso will join us momentarily. mike san tolly, it does feel the cues were from the bond market and u.s. dollar. >> the yields have an upward bias. was a brief one week pullback in that yield. the chart is higher highs and higher lows. it looks like it wants to inch higher. i do think that's the factor here. the vix threatening 12 right now. we obviously have a slow drip. it makes sense the market doesn't want to get too far ahead from the greece news. >> we are in a critical 48-hour window here. yet, john fortt, another record high for the nasdaq. >> yes, indied. tech stocks doing well. facebook up nearly 4%. the advertising industry is trying to digest what social and social video means. snapchat making a big splash. there seems to be an appetite for hope for the future in technology. amazon also up better than 2% near tho

i'm simon hobbs along with sara eisen and david faber. let's look at the markets. positive session.from greece. we've managed to break four consecutive days of losses with the s&p where it is we're negative for q 2. >> greece turns out not the only debt crisis worrying investors. puerto rico heading toward an historic default. plus downgrading greece and puerto ricoen in the last half hours. we'll discuss which one could be a bigger threat to the global economy and apple music launching today. find out if you should be buying the stock. >> we have breaking news with rick santelli an consumer confidence. >> we have a june read and triple digits. 101.4. the reason 101.4 is interesting, first of all, it's only the third triple digit we've had going all the way back to the summer of 2007. what's more, it's exactly the same number that we had in march measure 101.4. and the high water mark was january at 101.8 which goes back to the summer of '07. it's a solid read as it has been all along as the s&p had traded unchanged on the year. >> consumers are confident. thank you very much, rick.

i'm carl quintanilla, with sara eisen. david faber will make his way here in a moment. jim cramer is off today. >>> retail sales are solid on just about every metric. interestingly, the ten-year did not bust through 2.5. in fact the yields have settled back just a touch. our road map begins with markets continuing that rally as retain sales show a more confident consumer. does it change the calculus for a rate hike from the fed? >> lululemon stock sinks, but is it good news for the stock? >>> they did it. nike to become the official on-court uniform provider for the nash. >>> first, though as expected retail sales rose by 1.2. april and march sales figures were revised higher, and futures on the rise helped by the hopes that greece may be closer to reaching a deal with their creditors. it is about the retail sales today. 11 of 13 categories up march revised up. there's been some notes this morning that may q1 gdp is revised up. >> especially with the growth you saw in the core numbers. we knew autos were strong. we saw car sales last month, best in years. we knew gasoli

michael sanol ifrni, sara eisen and guy adami. michael, let me begin with you.e are going to talk about it for days. retail sales surged. consumers come back with a vengeance. retails sales start making sense. amid all this the 10-year falls. >> 10-year's got a long way. we got up to 2.5%. we discounted that. i don't thing that retail sales numbers has bearing on fed timing. in terms of consumers doing what they are supposed to do that's probably the theme. it confirms the narrative we have some comeback here. people have more money in their pocket. a little bit of follow through to yesterday's rally. nothing too trend important. >> the market had priced it in. the view was that the economy was going to rebound in the second quarter after that brutal winter, the port congestion. buyers stepped into the treasury market. that drove a lot of the action with those lower yields. utilities came out on top in terms of the sectors. i guess you have to continue to see the economic data come in positively to see another leg up. for the long term investor this is what you

sara eisen in for kelly evans at the new york stock exchange. >> welcome aboard. i'm bill griffeth.ets. the stock markets over there closed with a bang today. on optimism over a potential deal in greece. the ft-se, the cac, the dax. the dax

i'm simon hobbs with sara eisen and david faber. carl is off. we lost 18,000 on the dow.to delay rate hikes means we cut our losses. crude trades at $58.57. >> let's get to the road map for the hour. fortune 500 list is out today. lots of newcomers. who made the cut? "fortune's" editor will join ug live. >> axel weber will be with us live for an exclusive interview. what he thinks about the challenges facing europe's economy. plus high frequency trading and the iex crew. and later, alan schwartz the last ceo of bear stearns at the height of the financial crisis. he'll join us live for an exclusive interview. we'll ask him about those comments from christine lagarde head of the imf who just finished speaking. this is the annual update. big call out of the imf to the federal reserve. recommendation to stay on hold and not to raise interest rates until the u.s. economy is ready, holding it out to 2016. >> we have revised our growth forecast down to 2.5% in 2015. this is large die you to those factors that affected the first quarter. but this is not my message. we believe the

welcome back to "squawk on the street," i'm carl quintanilla with sara eisen, simon hobbs and david fabere new york stock exchange. auto sales inflation coming back to the euro zone as cpi finally goes positive. airlines had a ton of news thrown at them. we'll keep an eye on that with the dow down about 68 points off the lows. >> let's get you the road map for the hour. multiple bomb threats against u.s. aircraft were made this morning. government sources saying the threats were not credible. this after news the tsa failed 95% of airplane breach tests. we'll talk to a former tsa administrator and director of the fbi about all of it. >> bill harris former ceo of paypal will join us live to weigh in on the future of mobile payments. >> starbucks says there is room to get in, buy it and make a profit. >> let's get to rick santelli. >> breaking news. yes, carl. april factory orders on the older side. down 0.4%. much more than the down 0.1 unchanged we were looking. last month was 2.1. that was upgraded to 2.2%. if you take that out, all the factory orders negative going back to july of last y

i'm carl quintanilla, with sara eisen and simon hobs.e good week as we await headlines from a series of meetings from greece and crude started the morning stronger but back to $59 and change. >> the road map for the next 60 minutes. the greek drama infolds. the plot is quickly changing this morning. >> cigna and anthem in a saga of their own but the final act yet to be revealed. >> and taylor swift has apple changing their tune. >> and break news on existing homes. let's go to washington. >> reporter: good morning. existing home sales up 5.1% month to month in may to a seasonally adjusted annual rate of 3.35 million units. the street was looking for 5.25. this is the highest since november. sales up 9.2% year over year. the real headline is median price. up 7.9% year over year and they now believe 2015 prices could exceed the prior peak in 2006. the median home price we're seeing today. we saw 230 ,400 back in july of 2006. he says he does not believe we're in a bubble for housing due to demand. let's talk about inventories. they're up 1

michael santoli with our own sara eisen. and tim seymour.the treasury department with steve liesman. >> thanks very much. with the clock ticking on a possible greek default, u.s. officials are urging both sides to remain at the table to continue negotiating and compromise. secretary lew has been in constant touch. officials added direct exposure of u.s. banks to greece and other economic linkages are minimal, but greece matters for europe. the u.s. is integrated with europe. sooner is preferable potential default of greece is not a meaningful deadline. >> is it fair to categorize the u.s. putting pressure on greece itself or its creditors to reach a deal here? >> i think over the weekend there was more pressure on the creditors and this idea of sustainable debt relief. they do continue to pressure greece as well to adopt reforms for the broader economy. >> thank you, steve liesman. pressure for sustainable debt relief. is there hope for a deal? michelle caruso cabrera is life in athens with the latest. >> the answer looks very far away. stil

i'm simon hobbs, sara eisen and david faber. carl is off today.s not moving hugely to that blowout jobs report. 280,000 in may and 32,000 upgraded for the previous two months. the dollar is substantially stronger. you see crude lower. >> let's get you the road map for the hour. "new york times" columnist jim stewart here with his take on greece. how game theory can be applied to this week's greek negotiations and what happens next. >> avolent health. the stock opening moments ago. >> massive data breach hitting the u.s. government. officials say china is responsible. aefl lent. >> great job growth. goldman sachs chief economist jan hatzius will join is live for an exclusive interview. >>> the job report unemployment ticking up 5.5%. steve liesman has all the details. it was a solid report all around. >> i see three economic themes. i'll walk you through where i see it in the data. first, the u.s. job market is prospering despite the hit to jobs from lower oil prices and strong dollar. second. the consumer looks to be bouncing back. the strong job

i'm carl quintanilla along with sara eisen, david faber and post 9 of the new york stock exchange.e a dealous of out of greece. we should hear any minute now if there will be rulings on obamacare subsidies or same-sex marriage. if it doesn't happen today, could happen tomorrow or even monday. in the meantime the economic data here at the states pretty good. personal spending coming in at the highest level in about six years. take a look at the markets. dow hanging on with a 29-point gain. s&p is up about two. >> citi's chief economist, willem beiter will talk to us about the situation. >> the ceo of nielsen weighing in on how they are handling the changing landscape of television and streaming. >> what mcdonald's ceo had to say about getting customers back in the stores. >> we start with the market. a pretty volatile one as the greece saga continues. as they try to stave off default. should investors be able to share the worse. the man coined with the term gregsit. are we actually going to see a gregsit. do you have to factor in that scenario? >> the immediate threat should not be

. >> let's bring in sara eisen for more. >> well, it's an interesting move. pepsi is going pretty far into the craft category which is pretty much nonexistent for carbonated soft drinks. the backdrop is ten years of declining soda sales in the united states. we've seen enormous success with craft beer. so the thinking here from pepsi is that it will have similar success when it goes in to craft. when it comes to coca-cola's craft offerings, they do have next can coke which is in a glass bottle and suitesened with real sweet anned with real sugar. but pepsi is going prettying a guess safely after this market. the jury is out, though because keep in mind it's very small. but independent brands like ginger sodas and jones so hedas have been doing really well. >> there is a five guys by my house and they have these soda machines, very high tech. and it must have 100 flavors inside. it's a fountain thing. unbelievable the number of flavors you can come up with. pineapple cream. are these going to canal balancize each other? >> this is where the consumer is going,

i'm carl quintanilla with sara eisen, and david faber and simon hobs.very single european bors is higher. powell on the table. oil is the only lagger today still remaining below $60 a barrel. >> the landscape of streaming music changing rapidly. how do companies keep up? well the ceo of i heart media joins us. >> plus online buying and selling sites are disrupting the world of auto sales and traditional dealers have a lot to say about it. >> and at&t trading higher after an upgrade. we'll talk to the analyst who made the call later. >> let's get to breaking news on house sales. >> a june number, we'll hold off and see if it shows up. let's look at the may new home sales number. 546,000. that's seasonally, annualized adjusted. that was last month moves from 517 to 534. better than expected. that comps out pretty well. 538 february was one of the highest reads we had. that takes us back a bit. now we're looking at a comp on this going probably 546 to february of '08. richmond fed now showing up at six. six versus one, if you go back to december of last ye

sara eisen joining us for the hour and joined by bob dahl dan fuss and bill gross also coming up.rst, david kelly to you, what is your expectation from the federal reserve today? >> well i think they're going to upgrade their assessment to the economy, i think they're going to say the labor market's doing bet, the consumer's doing better, that's all in the statement. i think it's going to be a positive statement. i think it's going to make people believe that they will raise rates by september. the dot plot's different and the long-term forecast because that's a upgrade change from march. they have to say growth will be slower this year than originally thought. the thing i'm looking for is their assessment of long-term economic growth. they downgrade that it means we are running out of capacity here. i think they're beginning to get the sense that they have less than they thought they had. >> bob, your expectations? >> i concur 100%. i will emphasize the last point. i think there's less slack than a lot of people think and the labor market is one of the places showing up we're beg

he was talking to our sara eisen had joins us now. >> a series of heavy hitters worried about liquidity the bond market. he used to lead the bundes bank tell being us earlier the sharp sell-off in bonds globally has a lot to do with central bank policy but could be exacerbated by liquidity shortages and it could get a lot worse. >> i am concerned about liquidity in the market in particular under stress situations. once i do understand that repricing and volatility is part of getting back to normal liquidity in the market seems to be still a concern i have and it's not widely shared but i think it will increasingly become an issue. >> it is increasingly becoming widely shared. the fear here is a crunch thanks to a number of changes after the financial crisis like the extreme central bank intervention leading investors rushing into bonds. coupled with new regulations for banks requiring them to hold safer assets. all of that has sapped some of the necessary liquidity market making banks are holding in terms of bond inventory. so the fear is if there is a sudden extreme rush for the exits,

joining us from the new york stock exchange is sara eisen. here on set, catherine rampal. >> it looks like we're set for a rebound, but a mini rebound. not nearly enough to make up for yesterday's brutal losses. stocks got smacked down across the board. the worst day of the year. on sears, things were not progressing well in greece and increasingly this country is barreling towards a default and potentially existing the euro. the news overnight, the finance minister of greece confirmed they're not likely to make this payment, more than a billion euros due today to the imf. that's not technically a default, but it does put greece in a very unusual position of being the only developed market economy to miss an imf payment. they join a list that includes liberia, sudan, iraq of not being able to pay the imf back. sunday is the big vote where the greeks will vote on the latest bailout package and many say that will be the choice greeks have, whether to stay in or out of the gryo. >> not great company to be in. catherine, your piece this morning is titled how the euro became a w

i'm carl quintanilla, with sara eisen. david faber will make his way here in a moment.ry metric. interestingly, the ten-year d

sara eisen joins the table. apple is getting into the streaming business. >> finally. >> really? the question is what is going to make consumers choose apple over spotify, which always millions of poem use. spotify has a free version. apple's, $9.99 a month after a freeh three-month subskrpgz. are they going to use it just because it's apple and they use apple products for everything else in their lives. >> the answer to that is yes. >> it's called the ecosystem. >> if it's free on spotify, why would you pay $9.99. >> apple's consumer base dwarfs everybody else. >> and taylor swift is not on spotify. they have her in a dig to spotify. she was -- not she herself, but it was in the presentation that she was number one. >> i love spotify, love everything about spotify. love the people eefrb there, but they're facing the same problem that microsoft competitors faced in 1995 1996 1997. microsoft is the only game in town. you needed everything had to sort of be fed into there. >> the giant in the room. and that's the thing. you know i say finally because apple obviously revolutionized