td ameritrade. >>> our sara eisen's in washington this morning for the imf world bank meeting. she spoke exclusively with treasury secretary jack lew. sara, good morning to you. >> reporter: good morning, karl, david and jim. jack lew is playing host this week to finance ministers and central bankers from around the world. he wants to project u.s. leadership, engagement in the global economy, contrary to what we're hearing a little bit on the campaign trail, but of course, we had to start the conversation with his recent clamp-down rules on inversion. so, i asked point blank, was it your goal to kill this more than $150 billion merger between pfizer and allergan? here's what he said. >> let me be clear, the goal of what we've been doing here has been to deal with inversions as a matter of policy. i said several years ago, the right way, the best way to do it is for legislation to be passed that would do serious comprehensive business tax reform and shut down inversions once and for all. i also said we'll use whatever administrative authority we have, and it's a complicated matte

i'm sara eisen. >> and i'm wilfred frost. ready to bring you up to speed on apple, the broader markets and more. first, if you went to bed early, donald trump declared himself the presumptive gop nominee after winning you have a five of yesterday's primaries by huge margins. on the democratic side hillary clinton beating bernie sanders in pennsylvania, maryland, delaware and connecticut. clinton has a virtual lock on the nomination but sanders is showing no signs of dropping out just yet. >>> apple shares are getting crushed right now. down 7%. the tech giant posting it's first year of year quarterly sales drop in 13 years. iphone sales declining for the first time ever in but in an interview with cnbc, apple ceo tim cook told josh lipton the company is in the early innings of the iphone and suggests there is great reason for optimism. china was also a rough spot in this report. sales in that key market dropping by more than a quarter. but cook says he feels good about that country too. the company did announce a 10% dividend

i'm sara eisen. >> i'm wilfred frost. good morning to you. we'll get straight to the market action and have a look at futures at this hour. they are pointing lower, albeit not too much given decline elsewhere in the morning. the dow is down 38 points. the s&p 4 points and the nasdaq down by 6 points. we'll have a look at numbers elsewhere in the world. europe is down to the tune of about .2%, .3%. not too significant. germany down 2% after gaining 4% last year. we should keep that in mind when the ftse was up. >>> oil-producing nations failing to agree on a supply freeze at meetings in doha over the weekend. some are blaming tensions between aussie arabia and iran for the impasse. crude prices sharply lower but off the worst levels overnight. wti down 3.2%, 39.07. brent the international benchmark down 2.6%, 41.96. we are expecting those to be worse. we'll take you to doha live in a moment. >>> japan dropping 3% in the market after suspension in production after another earthquake in japan. in other global news, the lower house of brazil's co

good morning sitting in for sara eisen. let's check in on the market action.ght to your futures. of course, last week, six weeks out of seven weeks of gain for equity markets ending for for the s&p and dow, the highest point of the year, we're expected to extend those gains. only slightly. and the s&p by 41. nasdaq by 16 points. we're in the green and having to extend those gains in the last hour or so. still nothing too significant. dax up 3.6%. and the sector suffering it is the tell low comsector after a french merger between bouygues and orange seems to have ended. and that's dragged down the broader sector with those companies down 10%. if you look at asian trade, taiwan and shanghai closed for holiday. and the nikkei pretty muted trade. australia down slightly. the aussie dollar down .7% after retail sales are disappointing. >> as for broader market, oil slightly lower in trade perhaps due to the weakness in the dollar, wti crude at 36.72. also one of the reasons u.s. stocks are higher in premarket trade, a weak quarter, and that continues to be the case

good morning, seema, sitting in for sara eisen. let's go to action, u.s.utures have taken a positive turn in the last hour or so, following european markets making a similar turn. higher by about 50 points to the dow. 53 to be precise. s&p by 6.4. nasdaq by 20 points. it follows a 1.25% decline last week for u.s. equity indices. let's look at the u.s. ten-year, we're seeing buying over the last week or so that did actually take the yield below 1.7% briefly on thursday. we're just above that level right now. but as you can see, the move in general over last week has been one of yield compression. 1.718 on the ten-year note this morning. >>> breaking overnight, bank of japan governor kuroda says the boj is closely watching how unstable global market moves could affect his country's economy and prices. speaking at an animal meeting of trust banks today, kuroda said, quote, the boj won't hesitate to take additional easing steps needs to achieve its inflation target. >>> other market headlines out of asia, the stronger yen continuing to put pressure on japanese

i'm sara eisen. >> and i'm wilfred frost. it's throwback thursday. this week we're highlighting the newest members of the rock and roll hall of fame with the induction ceremony and concert coming up tomorrow night. >> yeah, that was the steve miller band with "rocking me." we'll hear from chicago, cheap trick, deep purple. it's going to be a good one. >> let's get to the market. a positive day yesterday. pretty positive for the s&p. still positive to the tune of about 6% for the dow. we're expecting a slight correction this morning. the dow called lower by about 38 points. the nasdaq by 12. the s&p by five. we got some impetus yesterday after the fed minutes, which were seen as nicely dovish. let's have a look at the yield on the u.s. ten-year treasury note. we've continued to see pretty low yields the last couple days. no big movement today. 1.734%. >> the show stopper in the last 48 hours, the dollar against the japanese yen, hitting a 17-month low. that is a significantly stronger yen and a weaker u.s. dollar. below 109. this after minutes from la

i'm sara eisen. >> and i'm wilfred frost. great to be with you this morning. let's get right to the market action. we're looking at gains for u.s. equity futures following the lead we've seen in markets elsewhere around the world today. almost triple dimgits on this friday for the dow. the s&p up 12 points. the nasdaq up 31. this follows a day where markets traded in the red for most of the session yesterday. the dow seeing its worst daily performance since the 23rd of february. it was a disappointing day for markets yesterday. we are bouncing back, however, today. let's look at the yield on the u.s. ten year. amazingly enough, it fell below 1.7% briefly yesterday. we're back above that but only fractionally. for whatever you see of gains in equity markets today and in general over the last month, there's no doubt that is a relatively bearish signal, what we're seeing in that yield compression. >> but the story of the week, of the morning, of the last 4 hours is the japanese yen. breaking overnight, japan's finance minister talking down the rapid rise in the c

i'm sara eisen reporting live from the imf meeting in washington, d.c., today. here at imf world headquarters. wilfred, i'm sorry you're not here. >> a great lineup you have coming up for us, sara. i am here from cnbc headquarters. wilfred frost. we're going to get you straight to a busy morning's bit of data and stories. market action first up. let's have a look at what futures are doing. they're, in fact, down at this hour. down by the tune of about 17 points for the dow. nothing too significant. the s&p down about three points, and the nasdaq by about five points. we got about 1% of gains yesterday for u.s. equities, led by financials, which had their fourth day of gains in a row. three of those days, of course, coming before jpmorgan's results. then the most pronounced day of gains coming yesterday. about 4% for jpmorgan stock prices. dragging the sector up as a whole. of course, the rest of the banks start reporting today. that'll be a sector to keep an eye on. let's have a look at stocks around the world. first up, european markets. they're a little disappo

i'm sara eisen. >> happy friday. i will say it again myself. i'm wilfred frost. thanks for joining us. let's have a look at stocks right now. they are selling off hard. asia closing in the red, which has seen europe follow suit and down in early trade as well. >> let's show you the morning action, as we speak. first up, u.s. futures. first day of the trading day for the second quarter. starting off in the red. we're not looking at sharp declines compared to some of the action we're seei ining oversea. dow futures down 19. s&p futures down four. nasdaq futures down 11. overnight in asia, selling in china even with some positive manufacturing data in china. though, the shanghai comp managed to close flat. also reaction to standard & poor's cutting the credit rating one notch. japan's nikkei closing down 3.5%. the survey measure there disappointing. in china, that better read on manufacturing. couldn't manage to lift shares more than 0.17%. the hang seng in hong kong down 1.3%. >> i think asian markets generally responding more to that downgrade in china than the fu

i'm sara eisen. >> and i'm wilfred frost. let's get right to the markets for you. yesterday we lost steam throughout the day's trade, ending slightly down for some markets. basically flat for the nasdaq. today we're expected to bounce back but only slightly. the dow called higher by 22 points. the s&p by 2.8. the nasdaq by about five points. of course, we have kicked off earnings season. alcoa the first big name to report late yesterday, down 4% in premarket trade. let's have a look at the ten-year note on the u.s. treasury. we're looking at the yield at 1.75%. in general, the story of the last month has been yields coming down. however, we've just come off that very low level of below 1.7% that we hit last thursday. >> ready or not, here comes earnings season. quarterly results likely to set the tone for the markets in the coming weeks. first out of the gate last night, alcoa. earnings beating the street by a nickel but revenues did fall short. results were hurt by low commodities prices like aluminum, the strong dollar, and

i'm sara eisen. >> and i'm wilfred frost. a very good morning to you from me as well. let's have a look at u.s. equity futures at this hour. decent day yesterday around about 1% in gains for the main markets sparked by big gains for oil prices. we're looking at gains once again today. almost triple digit for the dow. 85 points in the green are u.s. dow futures. the s&p called higher by 11 points. the nasdaq by 32 points. let's have a look at the yield on the ten year. we've come away from that 1.7% level we hit last thursday. we're close to 1.8%. so risk sentiment has just improved over the last week or so. 1.781 on the u.s. ten year this morning. now, bank earnings are likely to set the tone for the trading day. jpmorgan set to post results shortly. the financial giant expected to report earnings of around 1.26 per share on revenue of 23.4 billion. this will be the bank's first year-over-year earnings decline in five quarters. shares of jpmorgan since the start of 2016 up there for you -- now they are down 10%. just over 10%

i'm sara eisen. >> and i'm wilfred frost. congratulations this morning to the villanova men's basketball team. if you went to bed early and missed the storybook ending to that game, what a march madness of upsets. the villanova wildcatings defeating the north carolina tarheels with a buzzer beating three-pointer to win the ncaa championship, even more amazing that game winning shot came just seconds after north carolina nailed a three of its own to tie things up. a memorable final five seconds sure to go down in the history books. we'll have much more on that and in sports more widely later this hour. >> one of the best finals ever, people are saying. >> congratulations to mr. cramer. >>> now to the markets. what we are seeing is a pretty sharp selloff, and it is global right now. check out u.s. equity futures. a triple-digit loss at this early hour for the dow. dow futures down 08, s&p futures down 15, nasdaq futures down 30. nasdaq was the big laggard in the session yesterday. looks like we're doubling those declines this m

i'm sara eisen. >> and i'm wilfred frost. a very good morning to you. let's have a look at u.s. equity futures. a disappointing day for markets yesterday. second negative session in a row, the dow having its first triple-digit loss since the 8th of march. we're looking at bouncing back, up 72 points today. the s&p up by nine. the nasdaq by 22 points. one of the reasons for this switch, this positivity today, as compared to yesterday, is oil prices. they're up significantly this morning, 3% for wti. just above 37 today. this comes on news that we have heard some comments most recently from kuwait's opec governor that there could be positive indications from any upcoming meetings in terms of controlling supply. >> in overseas trading, economic data overnight showed china's services sector strengthened overnight. that could be fuelling it the gains in commodities as well. the shanghai comp closed flat to down. shenzhen, 0.5% gain. the japanese yen a real focal point overnight after going below 110. that's a stronger yen, weaker

i'm sara eisen. >> and i'm wilfred frost. a very good morning to you from me as well. happy friday. let's get straight to the market action for you. u.s. equity futures at this hour pointing slightly lower after some gains this week. the dow closing at one of its highs for the year. its highest close back to july 2015, only on very slight gains on the day. we're expected to open down by 18 points for the dow. the s&p by three. the nasdaq by about a point. not too much action on the u.s. ten year. the yield currently 1.77. >> but a selloff for ten-year treasuries pretty much for the week. financials are in focus again today as we wrap up a week driven by bank earnings. on the docket today, citigroup. analysts are looking at 1.03 per share on revenue of $17.5 billion. worth watching here, the bank could give us a snapshot globally because more than half of citi's revenues come from outside the united states. it's been more exposed to emerging market swings. it also comes off that decision from the living wills where citi was singled out as a winner. >> they sent themselves a self-cong

td ameritrade. >>> it's time now for business before the bell with cnbc's sara eisen. reet this morning. what are investors looking at today? >> investigators are investigating the bank earnings this week and they have been better than expected and that has helped lead the charge higher for stocks. stocks are at the highs of 2016, the dow is about to open at the highest level since last july. we will see if the earnings beats can continue into next week, we will get a bunch of names in technology and consumer. the other thing we are all talking about here is the anti-business rhetoric continuing on the campaign trail, especially from senator bernie sanders at the democratic debate last night going after not just wall street but general electric and verizon. listen. >> the word contempt is not right. there are some great businesses who treat their workers and environment are respect. verizon happens not to be one of them. and what we need to do is to tell this guy immelt who is the head of general electric, doesn't like me, well, that is fine, he has outsourced hundreds

i'm sara eisen. >> i'm wilfr

i'm sara eisen. >> and i'm wilfred frost. a very good good morning to you.ks off a two day policy meeting. decision a due on rates tomorrow at 2:00 p.m. eastern. today a busy one for earnings and economic reports. march durable goods are out at 8:30 a.m. orders are for big ticket items are expected to have rebounds following a 3% decline in february. 9:00 a.m. we get the monthly s&p price index and the more. lots of earnings. reports results before the open. after the close we hear from apple and more. lots of earnings. >>> let's check on the markets and show you futures. modest rebound expected in the early action. but as wilfred mentioned. lots of economic reports and earnings to keep track of. dow futures up 52. s&p futures up 7. nasdaq futures up 17. nasdaq coming off three straight days of declines. microsoft last week. can apple, facebook, twitter this week change the tide? we'll be watching today. as for if ten year treasurely note yield. highest since march. the decision is expected tomorrow 2:00 p.m. eastern time. we'll see if yields go even higher.

back over to sara eisen at our nation's capitol. >> dom, thank you. of verizon workers are on strike after failing to reach a union agreement. mary thompson is live. good morning, mary. >> reporter: good morning, sara. there were a couple of hundred workers here protesting. all across the eastern part of the united states from massachusetts to virginia there were workers outside of verizon facilities protesting after workers walked off the job at 6:00 a.m. 39,000 verizon wire line workers angry that after nine months of talks, a contract was not reached between the unions and verizon. the union rep telling cnbc, this strike is about preserving good jobs and giving workers their fair share. >> this company made $1.5 billion a month last year in prophets. this year 1 president $8 billion in profits. it's time to share that with these workers. >> reporter: they make an average of over $130,000 a year including benefits and that it's offered a 6.5% pay raise. they say it's basically a wash because they've agreed to cuts in their health care benefits. there

i'm sara eisen. >> and i'm wilfred frost. good morning to you from me as well. and happy friday.'s have a look at u.s. futures. sharp declines. over 1% in the dow. expected to open slightly positively. essentially we are flat in the pre market but called higher by 4 points. and the s&p by 1 and the nasdaq by about 17 points. let's look at the 10 year treasure note. yields ranging around 1.7 and 1 .9 over the last three weeks. >>> china's central bank fixing its currency t yuan higher. in fact at the sharpest pace since 2005 when china removed its peg to the u.s. dollar. there have been huge swings in currency all week long led by yesterday's massive jump in the yen. how did i miss that? a 3% move in the yen. bank of japan's surprise decision to do nothing and leave the monetary policy unchanged. and -- of course the big importance is the chinese currency's depreciation in the beginning of the year that was spooking markets and it's gone the other way and that is calming. >>> the dollar index, dollar briefly hitting its allows since august. the nikkei in japan was closed for a pub

. ♪ ♪ >>> good morning and back to "worldwide exchange" i'm sara eisen. >> and a i'm wilfred faust.ery good morning from me a this morning as well. dow --. s&p higher by 18.5 points. nasdaq higher been 18 points. oil prices yesterday having a big impact on the market as did earnings and the oil price move yesterday, particularly late yesterday has helped stocks move overnight. europe higher about 2%. about .7 for france. the nikkei reversing losses yesterday up 3.7% and oil helping the rest of the region too. >> ftsi 100 at a four month high. not so worried about brexit. at least in the stock market. >> very -- >> commodities. >> yeah. >> ftsi 250 is a better way to play uk-specific. which is the next 250 is 2 uk 350 is the 100 plus the 250. >> good one. wilfred mentioned oil. it's gaining. 40.26. you might have thought after no deal in doha crude would be under heavy selling pressure but that came bouncing from the concerns. --. gnat gas also remains highenat . . [ sl >> the euro has charged ahead. and is heading towards 114. not quite there yet. but is a story of a stronger euro,

i'm sara eisen. >> and i'm wilfred frost. we're throwing back with pop from the 2000s. right. look at me. on trend with the early 2000s apparently. the markets this morning. slightly higher to the tune of 40 for the dow, the s&p 4.3 points and the nasdaq up 4.7. yesterday the vix at lowest point of the year. also bond markets show a little risk on sentiment. the yield which has been lower ticking up 1.86% and oil was a big factor yesterday as well. >> rallying new highs for the s&p. the dow and the nasdaq. joining us is tobias. how many have been caught off guard by this 15% rally since the mid february lows? >> most people to put it simply. >> a lot of gloom and doom out there. >> most fund managers got -- well they stepped up at the end of december and saying thank god 2015 is over and let's get ready for the rally and that didn't work out for the first weeks of the year and turned defensive and they got caught with this ram. part is the fears going around in the industrial recession argument. there was no recession coming down the pike. it was inventory misfunction.

. ♪ you don't want to go to work ♪ but you got to go to work >> i'm sara eisen. >> and i'm wilfred frost first, if you went to sleep early last night. here are the results of yesterday's new york primaries. the front runners hillary clinton and donald trump both came out on top. clinton, the projected victor on the democrat side with 58% of the vote and adding 177 more delegates. >> today you proved once again there is no place like home. you know, in this campaign, we've won in every region of the country. from the north to the south, to the east, to the west. but this one is personal. >>> donald trump also winning his home state by a landslide. john kasich with 25% of the vote. and ted cruz in third. >> we don't have much of a race anymore based on what i'm seeing on television. senator cruz is just about mathematically eliminated. and we've won another state. as you know we have won millions of more votes than senator cruz. millions and millions of more votes than governor kasich. >> is there you go. the front runner solidifying their leads in new york. but new york won't be enough on

carl quintanilla, sara eisen, simon hobbs, and david faber.ck santelli. >> this is a preliminary read. it isn't a final. we lost the nine handle. i'm a little surprised. 89 president 7. our last final read, of course, for march was 91. how bad was it? if you go back to september it was 87.2. here's what's interesting. yo view to go back to november '14 to find another. they're not common as of late. when you look at the current conditions, it was 105.4. just a little dip from our last look. so we want to pay attention to this, of course. but it will change in about 2 1/2 weeks. simon, back to you. >> thank you very much, rick. >> gop front-runner donald trump looking to regain his winning mojo over the weekend. new york, of course, sets for primary on tuesday with trump holding a commanding pre-poll lead. an ohio governor john kasich vying for second place taking a not so direct shot at trump's anti-trade rhetoric during an interview with our own larry kudler last night. take a listen. >> competition innovation is good. i think, larry, the pro

i'm simon hobbs with sara eisen and mike stantoli.ket down about 80 points on the dow at the moment. a lot of that has to do with oil trading at $36.87. >> more breaking economic data. let's get over to rick santelli with that news. >> sara, ism, the march read, 51.8. better than expected. on expectations 49.5. unrevised. 51.8 is the best headline number since july of last year, when it was 51.9. let's look at the february read for construction spending. that is not a good number. 0.5 down. it equates to tieing what we had in november. you have to go all the way back to june of 2014 to find a bigger number down 0.7. what's looked at the most, university of michigan sentiment, a final read for march at 91 that compares with the pre -- the mid read at 90. but has to compare with february's final at 91.7. so sequentially lower. how does 91 stack up? we were at 91.7 the last month. i have some more nitty gritty. ism manufacturing report, the employment was 48.1. that's 0.4 lower than what we were last look. we already had what looks to be

i'm carl quintanilla with sara eisen, simon hobbs, david faber.gain, despite some downgrades from the imf, oil is helping out. brent with the highest level so far this year. >> we start with that news from d.c. on our road map. the imf cutting its global growth forecast once again. we'll have a first on cnbc interview with the imf's chief economist. >> and goldman sachs chief u.s. equities strategist, david kostin joins us live. find out where he thinks stocks are headed. >>> also ahead in the show, coke and pepsi hitting all-time new highs this week. you should should you be buying these stocks? >> earnings season unofficially kicks off, should investors be wary? joining us is david kostin. great to have you back. >> nice to see you. >> you've been not necessarily bullish on the year, but now you're not bullish on q1 either. why? >> a lot of issues will be impinging on the market. last night we officially kicked off the quarterly earnings season. the topic in focus for the next three weeks. a couple issues are in the front of investors minds. the

sara eisen is excited about that move in the yen. is that something people should be keeping an eye on? >> i think the yen is on everybody's dashboard. don't want it to get too strong, which is the traditional risk aversion measure out there. overnight the yen backed off a bit. oil bounced. oil and the yen are the two things that can give way for what did -- for a bit of a bounce in stocks. the s&p 500 got here three weeks ago, right? three weeks ago we had that rally, pause. we've been knocking around, up, down, up, down around 2050 in the s&p, it makes sense to do that. i do think you have to watch the yen. i don't know exactly what -- how far that gets you. besides everyone saying you don't want that yen to get too strong. it's not a japanese export story. it's more of a reflection of how capital is flowing in and out. and people don't like to see the rapid, steep moves in massive asset classes like dollar/yen. >> on a day where we got the 4x reserve numbers out of china. for more on the markets, where investors should be focusing

. >> welcome to the closing bell, i'm sara eisen in for kelly evans. >> i'm bill griffeth, we have a lot to get to. stocks are extending their sell-off in the last hour or so. a couple of things going on, many but two big things weighing on the market today. we've got oil and according to sara the yen as well. >> according to everyone right now. >> oil breaking below $37 a barrel intraday. >> and the yen storming ahead, breaking earlier below 108. financials the worst performer as stronger yen sparks fears over the bank of japan going deeper into negative interest rates. that's something that spooked the market before. we'll look whether this last for banks. >> our yields have gone lower as well. the white house meantime this may be one of the reasons the sell-off, the white house this afternoon saying treasury is working on even more steps to counter tax avoidance after the changes to inversion rules they announced earlier this week and ceos we're showing you there are speaking out against anti-business rhetoric as they see it. we'll tell you what they are saying and we have two bus

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he's sitting down for a rare interview with sara eisen and she joins us. >> knight is preparing to stepas chairman of nike in june to hand the reins to mark parker. he's sharing for the first time the story of the early days, how he paid a graphic design student $35 to deliver him the swoosh. he almost named it dimension 6 and always competed fiercely and, quote, despised adidas which was bigger at the time. i asked what he makes of the competition now with adidas and under armour. >> i'm the same as i was before. they asked me in one of the tv interviews from 25 years ago if i wanted to meet the president of reebok. i said, i don't know him, i don't like him and i don't want to like him. i feel that way still about the competition. >> he does think the u.s. has lost a bit of edge for entrepreneurs. with regard to the trade bashing on the campaign trail, phil knight said, i think it will hurt the country and the world if we start closing off markets. clearly, it would hurt nike, a company that depends on foreign markets for a majority of sales and production. also a fun fact i learned i

sara eisen, what are you looking at this morning?k above 18,000. what a comeback this has been for the u.s. stock market. from the worst start to a year to a nearly 15% rebound or more from the bottom that we hit in february. why the bounceback? oil has turned around and is marching higher. above $40 a barrel for crude oil. data, while not great, is not showing a recession in the u.s. earnings are beating a very low bar and central banks are still pumping money around the world. cheap money. all of that is fueling a gain for stocks. there are some warning signs. one of those is netflix earnings. netflix is set to get slammed into the open today because it lowered its estimates for international subscriptions. this is the key netflx growth story. it's only going to add 2 million international subscribers next quarter. that's only a little less than last year. u.s. subscriber forecast also disappointed. they are facing heavy competition from the likes of amazon which just this week announced it is going to be offering a stand alone pri

td ameritrade. >>> it is time now for business before the bell with cnbc's sara eisen.gainst washington and politicians but that's what we're seeing today. starting with ge's ceo jeffrey immelt writing in the washington post a pretty fiery attack on bernie sanders for what senator sanders said about general electric in the op ed or the editorial board discussion with the new york daily news that ge is, quote, destroying the moral fabric of america. immelt said we have never been a big hit with socialists because we create wealth and jobs. he said we sustain 125,000 jobs, sanders has never come to a vermont plant and he says there are generations of americans within families that work within ge. on taxes immelt says sanders had stated many times that ge pays no taxes. repeating a lie over and over does not make it true. we pay billions in taxes including federal, state and local taxes. so immelt firing back on sanders. another interesting op ed from a corporate executive the ceo and chairman of pfizer going against what the treasury did this week. the u.s. treasury depar

back to you. >> thank you so much, sara eisen. fascinating story.iously story very personal to you, i also -- it's personal for me and obviously personal for nicolle because she has cried three times now through three readings. >> your humanity and bush's humanity and all the presidents humanity is something we don't hear enough about. >> thank you very much. appreciate it. >> the book is "love that boy" by ron fournier. go out and buy it today. steve kornacki picks up the coverage after a quick break. we'll see you tomorrow. >> we're not going to be damaging hail like we did yesterday in texas. we had softball to baseball size hail in some areas. this right here is looking at quarter-size hail. showers will be exiting the east coast as we go throughout the morning, bring the umbrella boston down to d.c. but carry it home dry. later this afternoon and evening thunderstorms from south texas to the northern gulf coast. ou? (patrick 2) pretty great. (patrick 1) how about a 10% raise? (patrick 2) how about 20? (patrick 1) how about done? (patrick 2) tha

i'm carl kin ta nia with quinta sa sara eisen. >>> let's get to eamon. eamon?ight, carl. just moments ago we got the news that the u.s. department of justice is going to sue to block the deal. within minutes of that announcement we're getting a new press release from halliburton and baker hughes that the companies plan to vigorously contest the justice department's plan to block their impending merger. here's the reason. they believe the department of justice has reached the wrong conclusion in the assessment of the actionnd it's counterproductive especially in the context of the challenges that the u.s. and global industries are clearly experiencing. clearly, guys, one of the arguments is going to be all the roller coaster ride we've seen in the rise in oil will have an impact on whether this is an appropriate merger. let me read what the department of justice says why this is a bad deal. it would combine two of the three largest oil companies in the united states eliminating important head-to-head competition in markets for 23 products or services used for on

. >>> jack lew sitting down with our sara eisen. >> hi, good to see you. world bank spring meetings are in d.c., so i sat down with jack lew just moments ago to talk about u.s. leadership in the global economy, but we also had to talk about the recent clampdown on inversions killing that more than $150 billion deal between pfizer and allergan. >> i said several years ago the right way and best way to do it is for legislation to be paced, comprehensive business tax reform and shut down inversions once and for all. i also said we'll use whatever administrative authority we'll have, and it's a complicated matter. you don't have infinite flexibility each teem wife showed down the pipeline and contingencies needs to act to make sure that inversions are stopped. >> we talked a lot most about this inversion issue. we also talked about what to do with puerto rico's debts. the global economy, and this idea of the imf of taking on a greater role. you can catch all of that in our exclusive interview tomorrow, "squawk on the street", 9:00 a.m. eastern time. >>> i thin

i'm carl quintanilla with sara eisen, simon hobbs, david faber at the new york stock exchange.ple wondering if this is the moment the market is making a turn. down about 85 points, on track for the worst two-day loss for the dow since the end of february. getting some macro at moment. ism services. for that we turn to rick santell santelli. >> nonmanufacturing services sector, looking for a number in the neighborhood of 54.5, 54.2. we got the high side, 54.5. this is a good number. it's the best number since actually just the end of last year in december when it was 55.8. but the good aspect of this number is we reverse the two-year trend. the unrevised look at february at 53.4 represented a two-year low read going to february of 2014. so this reversed that. let's look at new orders, shall we? they moved up from 55.5 to 56.7. employment moved over 50 into expansionary mode to 50.3. i would like to see this stronger, but also keep in mind it has not been under 50 on the headline number basically since january of 2010. now we're also looking for jolts to come out if it moves mark

i'm carl quintanilla with simon hobbs, david faber, sara eisen is off today.et to rick santelli. >> we have the february read on factory orders. down 1.7. we were expecting a number right in that ballpark. down 1.7 is the weakest since the last read of the year, which was minus 2.9. there was a subtle revision from up 1.6 to only up 1.2. if you take out transportation, it was down 0.02. durable goods orders, down 3%. that's definitely a little bit more aggressive than we were expecting. we were expecting 2.8, so it's close. the last time we were down 3%, would have to go back to -- it's quite a ways, you will have to go back all the way to two years, march of 2013, we were down 3.4%. when luke at x transportation, that was down 1.3. nondefense orders, that's nonaircraft, that's down 2.5. that's a capital investment proxy. that's also a weak number. shipments versus orders, down 1.7. neither were revised. both were negative last month as well. if this is the first major set of indices after the labor report, they're a bit on the weak side. simon, back to you. >

. >> our own sara eisen speaking with jack lew for first time since the rules were changed on tax inversionsat a company could take advantage of being in the united states and wonderful rule of law that makes us the best environment and innovation publicly supported research and development and infrastructure reported by tax paid for roads and bridges and tunnels, and the education that's paid for out of our tax code -- >> i don't think it was a question of that. >> no, but that is the question. the question is if you get all of the benefits of being in america doing business in america, to be able to change your address to avoid u.s. taxes is wrong. >> will the kill more deal making. we put it to frank, an attorney. frank, welcome back to post 9. it's been suggest by one group, at least three potential mergers in the works could be stopped because of this. what's your thought of the effects of this deal making? >> essentially a number of deals are in the works. and clearly, boards and managements are going to be very, very cautious. it is very clear that the treasury, having tried not once,

. >> welcome to the closing bell, i'm sara eisen in for kelly evans. >> i'm bill griffeth, we have acks are extending their sell-off in the last hour or so. a couple of things going on, many but two big things weighing on the market today. we've got oil and according to sara the yen as well. >> according to everyone right now. >> oil breaking below $37 a barrel intraday. >> and the yen storming ahead, breaking earlier below 108. nc

i'm karl quintanilla with sara eisen, simon hobbs and david faber at post nine of the new york stockome weakness to start the day. dow's down 114, telecom not helping, verizon downgrade. oil's not doing a whole lot, but is in the red to the tune of 2%. >> here's your road map for the next 60 minutes on cnbc. jamie dimon making waves on wall street with his wide-ranging letter talking market volatility and china. >> plus, an exclusive interview with margrethe vestager. she'll weigh in on inversions, the panama papers and the latest on google from the eu antitrust commissioner. >> and former farmer ceo will join us with his take on pfizer, allergan and the rest of the injury. >>> first up, jpmorgan ceo jamie dimon writing "the good news is the system can handle the volatility. the bad news is we don't completely understand why this is happening." joining us at post nine, tony crescenzi at pimco. >> nice to be here. >> nice to see you. do you have thoughts on dimon's letter? >> let me just take it higher and talk about the banking industry in general and relate it to central banks and a

sara eisen caught up with treasury secretary jack lew and asked him about the recent crackdown on inversions. >> i said several years ago the right way, the best way to do it is for legislation to be passed that would do serious, comprehensive business fax reform and shut down inversions once and for all. it's a complicated matter. you don't have infinite flexibili flexibility. we have worked and worked on it. this is the third action we've taken. each time we've slowed down the pipeline. each time i've said congress needs to act because we want to make sure that inversions are stopped. i think that it should have been no surprise to anyone that we were working on this because we've been working on it for a long time. >> you can catch the entire exclusive interview with secretary jack lew later this morning on "squawk on the street." >> the whole approach and the language used there, it was problematic for me. instead of saying we want to, you know, comprehensive corporate tax reform to make assets want to stay here, he says, we're only corporate tax reform to shut down inversions, as a perm

. >> sara eisen has a rare interview with phil knight, nike chairman. that's 10:30 a.m.tern time, "squawk on the street." >>> democrats and republicans hitting the polls in five more states. >> this is a northeastern flavored primary. pennsylvania, connecticut, rhode island, maryland, delaware. if you looked at what happened in new york last week, expect a replay. and on hillary clinton's side she almost has an unassailable lead on bernie sanders. and on the republican side donald trump isn't going to get to 1237 tonight. the polls show he's ahead in those with significant numbers of polls. but he can break the will of the opposition if he shows that he's winning across the board. he can get closer to 1237. his campaign argues they will get there on june 7th in california. it is unclear whether he'll get just over or just under 1237. but the better he does today, the closer he gets to that number. and the significance of this northeastern primary is i think it is going to clarify the focus on a trump clinton race in the fall. >> does that mean you will see either one of

. >> sara eisen, thank you. >>> of course, why is iran going to hold back on oil production now thatme they can really go out and make some money on the open market. >> of course. i'm more impressed with what's happening in brazil. why are people so bullish? the country is deal with the zika virus. it's got systemic corruption. an impeachment of the president. the olympics could be a disaster, and yet everyone is very bullish about brazil for some reason. >> it is really going to be very difficult. and i don't know, again, you brought up the zika virus. that makes the situation even tougher. i just wonder how it's going to impact americans and other people deciding whether they go down to the olympics or not. >> there are a lot of things that seem ominous about it, but you'll recall when the world cup was going to be in brazil, a lot of people predicted disaster. and everybody went and it came off fine. >> we shall see. >>> thank you guys so much for watching. i know it got really painful at the end when sam stein was -- you were a fan. >> grotesque is the word you were looking for.