i'm sara eisen here with wilfred frost. 1/2 hours to go before the opening bell on wall street. futures are mixed. with us now to get you set up for the week ahead, jonathan golub from rbc capital markets. good morning. >> hi, sara. >> it feels like with the lack of news on earnings and specifics on economic data the path of least resistance is higher for this market. why are the bulls in charge? >> the underlying data is good. like you say, it's been a quiet period but we will start to see another jobs report, which is likely to be good. the manufacturing data, the ism which comes out at the beginning of the month will be things that the market focuses on. you've had solid earnings, recessionary risks are super low. the fed is moving forward, but it's not going to shock the market with whatever they do. june is a done deal. i think grinding higher on low volatility. >> why then is the bond market have a yield curve that's low and flat given the rising rate environment and suggesting bearish outlook on the economy? >> you k

i'm sara eisen along with mike santoli.resident trump's first major budget proposal hits capitol hill today. ylan mui joins us from washington. the big thing we see is a lot of spending cuts. >> this is a dramatic rethinking of the role of government from the previous administration. there are big tax cuts and big cuts in social safety net programs, some of which previously enjoyed bipartisan support. 1$1.7 trillion in reductions to those programs are included in this budget. roughly a third of that comes from changing the funding formula from medicaid and phasing out money to the children's health insurance program, more nonely known as c.h.i.p. another 272 billion is from broadwell fair broad welfare re. student loans are also in for big changes. the white house wants to combine several programs into one. the president's budget is just really a risch liwish list. it's up to congress to turn that into reality. and trump will need democrats' help to pass it chuck schumer said this budget takes a meat cleaver to the middle c

i'm wilfred frost along with sara eisen.ws, chinese companies invested a record $46 billion in the u.s. last year. that number could grow as china looks to up its manufacturing capabilities in the united states. can chinese companies really save mron by poney by producing america? eunice yoon has more. good morning to you. >> reporter: good morning. i think the answer would be yes. president trump has said that he wants the u.s. to become much more competitive and in the conversation i've been having here with a lot of chinese executives t turns out they believe the u.s. is competitive as it is. now speaking to one textile manufacturing, a company called kier, they're investing 2$228 million into a facility in south carolina. when i spoke to the company boss, he said he's hoping that eventually he wants to move everything over to the united states. why? he says his costs are just so much cheaper. he said in the u.s. his costs are 25% cheaper than in china. i spoke to one analyst who told me he believed this trend would only

i'm sara eisen. i'm wilfred frost. good morning to you from me as well. an extra happy friday on this long weekend. a long weekend back home, back in britain, and also here. one of the few bank holidays that are united. >> what are they celebrating there? >> just a may bank holiday. i'm not sure there's a reason for it. we'll check in with steve, he'll know. also new music friday. listening to carly rae jebson's new hit. >> another record finish, and very strong day for both the s&p and the nasdaq. we are looking at futures under pressure. dow futures down 13. s&p down 1 point. nasdaq is positive. we'll tell you about that in a moment. it's been a strong week as a whole. s&p is up about 1.4%. and the russell 2000 index has underperformed a little. as for oil prices, almost a 5% slide yesterday. watching that carefully, seemed to be a big disappointment out of vienna. wti crude below $49 a barrel. 48.97, maybe a mini pop this morning. big slide for the energy shares dragging on the major indices yesterday. >> looking forward to steve in vienna explaining w

i'm sara eisen. >> i'm wilfred frost. it's throwback thursday.hrowing it back with this 1999 hit, "blue." >> did this make it to the uk? >> it did. >> not sure how many other songs by the group did. >> this sounds very europe. >> it does sound like german te techno music. >> let's check in on the global markets. dow futures are up 14. s&p is up 4. nasdaq up 1.5. this after the worst day for the s&p and dow since september, worst day for the nasdaq since june 24th of last year. that was the brexit day we action. broad based. financials took it the hardest. the ten-year treasury note yield yesterday slipping to a one-month low. that was why financials were some of the hardest hit names yesterday. there we sit at 2.21 on the ten-year. little changed this morning. >> a big move yesterday. equities a focal point. we sat here yesterday and said so far it's only been the dollar that's reacted to the prior ten days of political movement. yesterday clear reaction in equities and the bond market. let's look at what's happening around the rest of the world

i'm sara eisen. >> and i'm wilfred frost. good morning from me as well.et straight to market action this morning. somewhat of a liberal surprise that we are looking at red across the screen, despite a resounding victory for emmanuel macron in the french election. 65 brs 65% to 55%, over marine le pen. but markets are softer. expectations that result in down about 20 points. the nasdaq led high by the tech sector. and let's have a look at european trade. as i said, it had run up significantly in the last two weeks. the french cac up in 7%. up 0.8%. this north, the ftse 100 flat. janua japan closing high. shanghai down after disappointing trade. >>> and i wonder how long it takes before the conversation in europe turns to the ecb. because the ecb was holding out waiting for this big political risk. now that it's got there been, will it look for its balance sheet and federal reserve. >> i believe they will turn its attention to italy which is the next big election on the docket. germany. may of next year. the and either way, this is a significant victory in

i'm sara eisen. >> and i'm wilfred profit.ery good morning from me as well. >>> let's check the markets, low volatility. little action. the dow and s&p closed lower for the week. the nasdaq marching to its own beat closed higher for a fourth week in a row. dow futures up 40 points. s&p points up 4, nasdaq futures up 6. retail earnings are going to be dominant as they were last week. looking for results from walmart, home depot and more. going straight there to show you the big boost. wti 2.6% higher. present is above 52 this morning. 52.15 up 2.5%. as i mentioned on the energy minister comments. nat gas up by a percent. >> and last week helping the market up 3% breaking the three-week losing streak. so perhaps that's a sign to spur the market this week. asian markets, hong kong, up. and the industrial production and fixed investment, both significantly rising but significantly below estimates. the ftse was the outperformer, 2%. germany slightly higher, france slightly low. we have seen both germany and the ftse 100 hit record

i'm sara eisen. >> i'm wilfred frost. good morning to you from me as well. welcome back. >> thank you. good to be back for the rest of the week. let's check in on the markets. the nasdaq closed at a record high yesterday. >> only a tiny bit. >> correct, but still. >> lagged the dow for once. >> the resilience of this market is remarkable. s&p futures down almost 5. nasdaq futures down 17. the stock of the morning and weight on the market is apple. shares slipping after iphone sales declined in the most recent quarter, falling short of wall street expectations. the company giving weaker current quarter revenue guidance. lots more on results in just a moment. >> did you see china growth as well that slipped. >>> asian equities, japan, south korea and hong kong closed for public holidays. >> golden week holiday, right? >> extended golden week. there we go. either way, what is open, you can see down is australia. the ftse straits times in indonesia is up three quarters of a percent. a look at european trade which is negative today. we've been up quite nicely ove

i'm wilfred frost. >> and i'm susan li in for sara eisen here today.you're feeling well. >> happy monday as well. and this morning, coming off slight declines, 2%. a couple thrown in over the course of the week, dow up 1.9%. the s&p up 1.5%. the big story last week was strong performance in tech. and the tech up. intel declined sharply on the back end of the week. and the other big story was that oil was slipping in the energy sector there, underperformed, albeit bounced on friday with chevron meet expectations. the dow called higher, 30 points. s&p, four points, nasdaq up 2%. the others up also about 1%. european markets closed across the board for may day, also a lot of markets closed. but the big ones that are open, we saw about half percent of gains for japan and australia. we did get pmi which fell to 51.8. >>> and more services oriented it makes you wonder whether or not pmi numbers matter anymore, right? >> matter -- they still matter, of course, but matter less, the manufacturing portion declines but still heavily the manufacturing base, consum

. >> i'm seema mody in for sara eisen today. it is new music friday.e're listening to selena gomez, her new song "bad liar." this one i have not heard. >> i would love to claim i have, but i'm in the same boat as you. the global market picture. we did get a bounce back following that sharp decline on wednesday. we saw a bounce back yesterday. you would have to say it was a relatively tepid bounce back, but it stopped the rot, that severe rot we saw on wrenednesd. yesterday the nasdaq led the bounce back. the dow up 0.3%. the s&p up by half a percent. it was a bit up and down, and we did close towards the highs of the day and that rally did come towards the end of the day as well. as i said, not resounding bounce from the open through to the close. ten-year treasury note is moving around. that did go down to 2.18 in terms of lows. as you see, we moved up in a more risk-on fashion since the lows of yesterday to 2.25% on the ten-year treasury note. >>> wall street's gains on thursday helping revive spirits around the world. let's look at asian equities an

. >> i'm seema mody in for sara eisen. always good to be by your side.ovrnlgts l >> lovely to have you here. >> yesterday the dow losing 22 points but the nasdaq hitting another record high, a divergence between the major indices. looking at the futures where they're trading on tuesday morning, if you're just waking up with us. here we go. s&p 500 calling for a higher open by one point. dow jones higher by 13 points. bp earnings, results is something investors are digesting. nasdaq higher by 8. we will keep a close eye on the nasdaq throughout the day. apple hitting a record high now up 25% this year ahead of its highly an tess pated earnings report, which is die this afternoon. ju the nasdaq composite, a big mover of the overall index. quick note on treasuries, looking at where the bond market is trading now. when headlines began to cross about the 4.3% reading in the gdp model forecast we saw a sharp drop in treasuries and gold. ten-year note yielding 2.33%. >> yesterday, as you said, a tech-driven day. the dow was positive most of the day. just slippe

i'm sara eisen. >> i'm wilfred frost.ood morning to you from me as well. >> let's check in on the markets after another record close for the s&p and nasdaq. got a half percent gain for stocks yesterday. breaking out of that dreade dreaded 0.2% move. let's show you where we are this morning. dow futures down a point. s&p futures down 1.5. nasdaq futures remain strong as the nasdaq continues its outperformance. it's coming off of four straight weeks in gains. the s&p and dow broke their winning streak last week. the dollar is the mover last night. this is where we saw reaction to the report from the "washington post" and the "new york times" that the president shared some highly sensitive intelligence data with the russians. you saw the dollar weaken sharply. the biggest move was against the euro. it soared to 110.41. the dollar wiped out all of its post election gains. the dollar shot up on this idea of all of his pro growth policies and confidence, it wiped all of that out this morning. the dollar weaker against the yen a

i'm sara eisen. >> i'm wilfred frost. good morning to you from me as well. >> good thing you came back for throwback thursday. >> main reason i'm here what is it today? throwing it back to songs from the best movie soundtrack. a bit of the bee gees. >> i thought you would be holding out for something different. >>> u.s. equity futures after a m mini move yesterday are soft this morning. dow futures down 19. dow underperformed yesterday thanks to disney shares and earnings there. s&p down 3, nasdaq down 8. ten-year treasury note yield, yields pulled back yet, 2.40, bang-on 2.40 for the ten-year yield. maybe a bit of buying. we'll see what the mood is like. >> the yield ticked up over the course of the week. started around 2.33. >> new zealand's central bank holding interest rates steady. that was slightly unexpected to see the kiwi fall a bit. markets across asia, slight gains. a third of a percent for japan and shanghai. hong kong up a half percent. we have seen softness in iron ore and coal prices come through which hurt

i'm sara eisen. >> i'm wilfred frost. good morning to you from me as well.reat to hear coldplay as we come in. >> i thought you were going to say great news cycle. means we can't sleep. >> that, too. >> one of your favorites. >> i'm booked to see them in los angeles in october. >> better than elton john. right to the markets this morning. we are starting to see a reaction to what is happening in washington. we're off the worst levels of the session, but check out dow futures, pointing to a lower open by 95 points. about an hour ago that was more than a triple digit decline. saw that action overnight. s&p futures down 13. nasdaq down 22. also saw a reaction in the u.s. dollar. so let's go there. as for the dollar, weaker across the board against the euro saw that on yesterday's controversy. seeing a material weakness against the yen. more than half a percent move there. 112.50. there is flight to safety. buying of yen, gold, treasuries. the dollar index taking a dip on the headlines of this comey mem mochl the dollar at a six-month low, 1.1089. as for the ten

i'm sara eisen. >> i'm mike santoli in for wilfred frost today. >>> u.s. equity futures are under a bit of selling pressure. did see a turn in futures when this news crossed last night that fbi director james comey would be fired by president trump. we'll talk about the implications for investor confidence. for now dow futures are down 55 points. s&p futures down 4. the nasdaq down 4 as well. as for the action overnight in asia. hong kong continues to be a stand out. that index is at the highest level since 2015. it was a strong close for hong kong up a half percent. shanghai comp, the main index in china continues to get under pressure. down a percent. it is now at the lowest level since back in october. as for the early action in europe, legts sht's show you wh going on. some weakness but fractional moves. the german dax unchanged. ftse 100 in the uk is positive. weakness in italy. >>> look at the broader markets, a slightly risk-off response. the ten-year note. that yield yesterday hit a six-week high. the highest level of 2.4% since march 31st. it's ba

i'm sara eisen. >> i'm wilfred frost. good morning to you from me as well. it's throwback thursday.his week we're throwing it back from songs from our first ever cds. this is yours? >> mine. early '80s, madonna by madonna. "lucky star" wasn't on it. it was on a later one. >> you were buying cds when you were three or four? >> my parents would buy cds. i grew up in a music household. i guess there were cassettes before cds. i have a bit of both. even this or ace of bass. and i love ma ddonna. >> can't wait for yours. >> hard to compare me to the person i picked. we'll get to that at some point and from the rest of our production team. let's look at futures. we are called higher by a decent margin. the dow up by 76 points. the nasdaq by 18. the s&p by 7 points. the s&p hit a record close again yesterday. did only gain about 0.25%. the dow and nasdaq were a bit stronger than that. all in all another day of muted gains. the fifth day in a row of muted gapes, so that 2% fall we saw last wednesday has been recovered again already. week to date, up a percent or so. it was a lackluster rall

. >> i'm seema mody in for sara eisen today. >> is new music today. new track from miley sirius called "malibu." >> amazing how she's 24 and produced so much. >> wow. look at that little nugget. always great to have you with us, particularly on new music friday. >> thank you. >>> getting to the market action. futures coming off declines across the board yesterday, albeit small declines. 0.1% or 0.2% of declines yesterday. we are expected to open soft again today. the dow called lower by 40 points. s&p by 6. nasdaq by 14 points. yesterday retail was the worst performer. the likes of macy' underperforming. retail etf down over 2.5%. all in all this week, we have the nasdaq in positive territory. the s&p just lower. the dow almost down by 0.5%. but certainly not severe declines. apple the best dow performer up 3%. intel the worst, down 3%. tech overall the best sector, up a percent. materials down about 1%. the ten-year treasury note, because we started -- or we closed last friday at 2.35%. we spent a lot of this week above 2.4. as you can see, we're jus

i'm sara eisen. >> i'm wilfred frost. very good morning to you from me as well.owback thursday, we are throwing it back with the most liked singers on the social media site. katy perry. >> she has more followers than anyone. >>> let's check in on the markets. futures are look up after yesterday they closed unchanged. the dow gained a few points, but the nasdaq did pull back from a record high. this morning we're seeing strength. the nasdaq up 7 points. dow futures up 45. s&p futures are up asia, japan closed for the golden week holiday. as for the rest of asia, red across the board. shanghai closing lower by a quarter percentage point. you saw that across the board. hong kong closed flat. as for europe, early action is strong thanks in part to better earnings from the likes of adidas, hsbc, german dax is up more than three quarters of a percent. italy and france also going strong. just a few days here ahead of the french election, round two, final vote on sunday. >>> let's look at broader markets. oil prices in focus over the course of the last couple of weeks. y

i'm sara eisen. >> good morning.'m mike santoli today in for wilfred frost. >> let's get to the markets. glad to have you today. >> a lot going on. >> u.s. equity futures after a record close did not take much yesterday, but the s&p and nasdaq finished at record levels. dow futures are looking up more than 10 points this early morning. s&p futures up a half point. nasdaq futures up almost 2. as for the ten-year treasury note yield. yields ticked a bit higher that boosted the dollar a bit. still we're hovering below 2.40 on the ten-year. i guess that's an improvement from the 2.30 level from last week. >> it's grinding slowly higher like the equity markets. asian equities overnight, generally a mixed picture. we have the markets in south korea closed as they elect a new president. japan was down, hang seng was up. the korean vote comes after the former leader was ousted on briarry charges. polls close there at 7:00 a.m. eastern time, in a couple hours. a live report in a few minutes. >> we have a chart issue. why don'

sara eisen, mike san tolli, it's been great we're going to toss to the half. >>> welcome to "halftime report." famed market watcher robert shiller saying stake in stocks, which he believes could go up another 50% from here. with us for the hour, the brothers jon and pete, po and also with us is jim cramer and more. that jaw-dropping prediction from a man best known for his words of caulks on stock. nobel winner, jails' robert shi -- yale's robert shiller. >> i didn't mean to cause jaws to drop. >> why this call? >> well, it's not that different. stocks have generally outperformed other investments through history. they're highly priced now, which means i don't expect them to outperform so much, but for a long-term investor, and most people are, i think there should be a place for stocks in the portfolio, and they could go up a lot from where they are now. they could also go down a lot. that's the problem, but the answer isn't to avoids stocks entirely. >> what gets them to go up 50% from here? >> well, the last time that happened -- right now the price/earns ratio i used is cyclically

sara eisen, mike san tolli, it's been great we're going to toss to the half. >>> welcome to "halftimeeport." famed market watcher robert shiller saying stake in stocks, which he believes could go up another 50% from here. with us for the hour, the brothers jon and pete, po and also with us is jim cramer and more. that jaw-dropping prediction from a man best known for his

i'm sara eisen. >> i'm wilfred frost. good morning to you from me as well.articularly to the present, if you're waking up, mr. president, please clarify the tweet. >> already more than 122,000 retweets. let's check in on the global markets. on this final trading day of the month of may, another positive one for u.s. stocks, peshs lesp the nasdaq. dow futures are down abo about points. s&p futures barely positive. nasdaq futures up 2 1/2 points. as for overnight action in asia, shanghai getting a lift after china manufacturing pmi came in better than feared. there was a lot of concern about china's economy, global pmis starting to peak. we did get a number that it was above 51 signaling an expansion in manufacturering theing there better than estimates for may. just around the same level as april. >> 51.2. >> shanghai comp closing up a quarter of a percent. early action in europe right now, let's show you what the trade is now. the german dax is barely positive to little changed. france goes the other way. ftse 100 keying off that higher -- or that weaker bri

joining me, mike santoli as both john forte and sara eisen are off today.owngrade that's hurting the market somewhat. first up, lester holt exclusively interviewing the president after his firing of the fbi director james comey. take a listen to what he said about that process and his decision. >> regardless of recommendation, i was going to fire comey, knowing there was no good time to do it. and, in fact, when i decided to just do it, i said to myself, i said, you know, this russia thing with trump and russia is a made-up story. it's an excuse by the democrats for having lost an election. >> for more, we're joined by jared bernstein, former economic adviser to former vice president joe biden. gentlemen, good to see you. good morning. >> good morning. >> jim, we would like nothing more to talk markets, earnings and macrodata, but this washington, as cramer said, sideshow, keeps distracting the market. how do we tie what was said with lester yesterday as to how markets and investors might behave? >> listen, if you think gridlock is good and the economy is f

. >>> welcome, everyone, to "closing bell," i'm sara eisen. >> sell in may, go away, at least for today, thanks largely to strength in text stocks, and we have a pair of money managers who say the biggest bet this year is to buy in may and stay to play. they join us in a moment with those strategies. >> glued to the bank stocks this afternoon, selling off around 1:00 p.m. eastern time after president trump said he would consider breaking up the big banks, although they since recovered from the losses, and are now one of the best performing groups. coming up, whether a bank breakup is good for the industry, the economy, investors, joined by independent community bankers of america ceo, cam fine, and the former ceo of wells fargo. >>> caterpillar up 10% over the last month and could rally another 20 from here. coming up, debating whether you should be buying this dow component or selling it right now. >> but we begin with the old adage as you mentioned, sell in may, go away. referring to the six months strategy from may to september in which markets historically perform worst than the res

. >>> welcome to "closing bell," i'm sara eisen in for kelly evans at the new york stock exchange. welcome back. >> thank you. i'm bill griffeths. nasdaq fighting to stay positive, it's not there now. awaiting apple's earnings after the bell. getting the big guy. >> aetna the winner today, despite ongoing pressure in the obamacare business. coming up, the ceo breaks down the quarter and what's ahead for health care in this country. it's a first on cnbc interview. we'll talk about this ongoing battle on capitol hill, and how it could impact his business. might see a vote this week. >> always get a good read of what's going on in the industry when mark joins us. looking forward to that very much. you saw muvaney giving a firey defense of the government funding deal reached in congress, and president trump's tweet that the nation needs a good shutdown as he put it, we got the highlights on all of that coming out of washington. coming up in a moment here. >> and microsoft taking aim at google's chromebook and dominance in the education market. coming up, discussing whether mic microsof

i'm dave faber, with sara eisen and mike santoli.ramer on assignment and carl you ask, well, he's in -- yes, in the -- in rancho palos verdes for the codes conference. he'll talk to the silicon valley heavyweights and we'll talk to netflix ceo reed hastings. of course you don't want to miss that. another look at the futures, you heard becky talk about them. we're looking up this morning. of course, european markets you ask, well, we answer. with a generally positive -- in fact entirely positive, thanks for italy and spain, guys. appreciate that as always. ten year note yield hanging in around the 2, 2.22 -- a lot of twos this morning. you see crude oilwell below the $50 a barrel. >>> there are reports that the president will pull out of the paris climate agreement. what it means for business and geopolitics. >> and trying to clear up what america first means saying we're asking at will of our partners. we'll take a look at the message from the administration. >> and it's the last trading day of may. should investors expect a june swo

i'm sara eisen. i'm wilfred frost. good morning to you from me a

i'm sara eisen. >> i

i'm sara eisen. >> i'm wilfred frost. good morning to you from me as well. welcome back. >> thank you. good to be

i'm carl quintanilla with sara eisen, david faber at the new york stock exchange. the attack in manchester, the budget and of course the president making his way from israel to rome. >> let's get straight to that deadly attack, in manchester, england. willem marx joins us by phone with the latest as we learn a few new developments this morning. >> reporter: there have been, sara, they had a raid conducted by manchester police a few moments ago. we can show you the police authorities here in manchester have been issuing a number of warrants, executed a 23-year-old man we now know and some of the names and ages heart breakingly of the victims have been made publicly, one 8-year-old girl amongst the 22 who lost their lives the 60-odd people in manchester area around 22 we've been told are children. theresa may speaking earlier outside number ten downing street, she described this as a warped and twisted mind-set that would be responsible for this incident. worth bearing in mind they have said there was one individual responsible for the improvised explosive device. th

i'm carl quintanilla with david faber and sara eisen at the new york stock exchange.ramer is off today. the market looks to take a breather here today. plenty to work with on the last session before the memorial day. macro data, the president at the g7. europe's on pace for a down day. ten year, 2.23. durables are down for first time in four months. and oil still below $49. our road map begins with quote very, very bad. the president's comments on germany and trade are in the spotlight. >> plus amazon is near $1,000 a share. will that run continue? >>> and the surprise gdp revision, higher for the first quarter. >> first up though the germans are bad, very bad, that's the what the president reportedly said in brussels. according to the german publication der spiegel. he voiced displeasure over the trade surplus. see the millions of cars they're selling to the u.s., terrible. we will stop this. a lot of discussion about what was lost in translation with the germans. gary cohn trying to clarify what the president meant on russian sanctions, but not the first time that h

i'm carl quintanilla with sara eisen and david faber. cramer is on assignment.he market takes stock of the global cyber attack, the north korean missile test and a final wave of retail earnings that are headed our way this week. europe is missed after merkel's state victories and macron's swearing-in. oil up on news of more production cuts and an empire manufacturing the first negative read since the election. our road map begins with a cyber warning after hackers attack 1 50 countries over the weekend. microsoft said it should serve as a wake-up call to governments around the world. >>> and there's an agreement on the extension of the oil production cuts. >>> the white house is hopefully to quickly pick the next fbi director. will democrats make that possible? >>> first up this morning, asian governments and businesses reporting some disruptions from this wannacry ransomware worm this morning. it's locked up hundreds of thousands of computers in more than 150 countries since friday. security experts warning of further disruptions as more systems come online tod

i'm carl quintanilla with sara eisen, david faber at the new york stock exchange.230. 1% declines on the s&p. russell off 1.5. got gold at a two week high, the vix is higher, the dollar is lower. the president will speak at the u.s. coast guard academy later today. >>> our road map begins with the battle between president trump and former fbi director comey. comey memo reportedly claiming trump urged him to drop the investigation into former national security adviser michael flynn. clearly as carl mentioned the markets are spooked by the news. we'll have the latest on washington and wall street. >> and target has shares that are higher. >>> and amazon considering getting into the multibillion dollar pharmacy market. plus, four new fire tablets wake their way to the -- make their way to the lineup. details straight ahead. >>> first up, the big story, nbc news is confirming that fired fbi director comey wrote an internal memo saying the president asked him to drop an investigation into former national security adviser flynn. our eamon javers is outside the white hous

joining me at post nine, sara eisen, mike santoli, carl keent nia has tkne quintanilla has the morning. a big interview for us from omaha, bullish comments on apple from warren buffett. becky quick is live there, berkshire's temporary headquarters for the weekend in omaha, nebraska, with details, especially on ibm. >> thank you very much. we talked to warren buffett about ibm, apple, a lot of different issues but let's start with ibm. warren buffett says the case for ibm doesn't make quite as much sense to him as it used to. he told us last night that he went ahead and sold about one-third of the position he held in big blue over the first and second quarters. that's pretty shocking because berkshire hathaway was the largest shareholder and shares of ibm that controlled about 9% of the shares outstanding. buffett told us they went from 81 million shares down by 25 million. they still hold more than 50 million shares, which means there is still a major shareholder. the news is coming out next week, his hand would have been forced with an s.e.c. filing of 13-f filing that was going to be

i'm carl quintanilla with john fortt and sara eisen. we are in the midst of a major sell off. only one dow in the green, unh. s&p is down 31 and change. both of them testing the 50-day moving average. gold is up 22, 23. the vix has shot up past 13. the ten-year fighting with 224. we couch all of this with the knowledge we have gone 15 sessions without a move as much as .5 in either direction. >> the context is important but there was just too much turbulence when it comes to the headlines in washington, d.c. if you look at which groups are getting hit the hardest, financials. the explanation there is the ten-year yield drops to lows. the low we are watching now is 217. that's the low point of the year. we last hit it in april. there is clearly a flight to safety and out of some of the groups that have been winning the most, technology. apple is one of the worst performers in the dow. >> in the dow. i am interested in how badly semi conductors are doing. amd down some 8%. they didn't get more details on gross margins out of a company meeting. invidia down 4.3. applied materials

. >> i'm seem florida mehdi, happy monday, everyone, in for sara eisen.heck on global markets. global stocks in fact are holding on to gains after wall street rebounded on friday. after that big one day upset on wednesday. the dow up just about 5 points losing a good bit of trades here. the s&p 500 higher around two points here. interestingly enough, as we take a look at trade on friday, 11 out of 11 sectors trading in positive territory. industrials, the big standout, the best day since march. so significant gains to end the week. we take a look at stocks in asia, following that rebound on wall street, you'll see stocks closing the gains, slightly from blah we saw on the shanghai composite. w we see gains in japan up by 0.5. we are getting consumption data from china later this week. that can be a cue that traders take in asia. let's take a look at trade in europe. currency is the big talker after the euro topped 1.12 against the u.s. dollar last week. that, of course, a big talker for traders in london. here in early trade on monday, the german dax lowe

i'm sara eisen. >> i'm wilfred frost. it is new music friday.his is the latest from justin bieber, lil' wayne. >> it is jobs friday. u.s. equity futures right now are pointing to a mixed open. the dow futures are down about 16 points. s&p futures are up 1. nasdaq futures are up 4. oil is the big story. that tumble yesterday to the lowest level since november caught everyone and moved the market. wti is back above $45 a barrel. 45.70. getting a bit of a boost this morning. we'll see if that holds. there's been a pattern lately where the early morning, this time of morning bounce disappears by midday. brent crude, 48.72. nat gas, $3.21. we'll watch this and the spillover effect on other commodities like gold, copper and iron ore. >> the real takeaway, despite this fall in various commodities, earnings good enough to keep markets in positive territory. we have the nasdaq up a half percent, the dow and s&p also in positive territory, coming off the back of a fantastic week last week. again, resilience and strong performances. let's look around the r

jon fortt, sara eisen and myself at post nine. the markets up 63. joining us today, re/code executive editor cara swisher. first we want to get to phil lebeau for more on this ceo shakeup over at ford. phil, good morning once again. >> thank you very much. we will be talking with bill ford jr., or actually bill ford, the executive chairman of the ford motor company, coming to us from the company's headquarters discussing this decision in terms of dropping mark fields as ceo. he's being replaced by jim hackette. jim hackette, formerly the ceo of steelcase, board member at ford for a number of years and then took over the smart mobility business about a year, maybe a year and two months ago, and he now will be at the headquarters and we heard from him just within the last hour, saying look, we need to move faster, we need to make our decisions more unified as a company and as part of that, we are going to be talking with bill ford about what happens next for ford and about this decision, how quickly they decided the ford board decided because there's

i'm carl quintanilla with jon fortt, sara eisen at post nine of the new york stock exchange chlgt marketg a breather after a strong week. big tech of course setting record highs all week long led by f.a.n.g. stocks as amazon continues to flirt with $1,000 a share. nasdaq has only had three down days this month. it's on pace for fifth positive week in six. for more we're joined by scale ventures partner kay mitchell here at post nine as well as washington crossing advisors portfolio manager chad morganlander. guys, happy friday to you both. so much discussion, kate, about the nasdaq. >> yeah. >> the gains, a multiple of what the other indices have done all month long, all yearlong. >> exactly. >> and how painful this would be if it were reversed. is that a risk? >> well, it's always a risk. these are getting pricey. i would say it's interesting watching these companies. they're starting to establish by on a relative basis incredible dominance not only versus obviously from a pricing standpoint their peers, but within their markets. look at what's happening to retail by a difference. look

welcome to "squawk alley," joining me is jon fortt and sara eisen.lso joining me walter eisen and a lot to get to with walt this morning. among it, apple, as berkshire's warren buffett nearly triples his stake in the company to more than $19 billion. stock hit yet another all-time high this morning. walter, let's take a quick listen to what buffet said amid all of his mea culpa's of miss in amazon and missing alphabet why he is increasing his stake in apple. >> the shares when we bought them were much more reasonable in relation to current earnings. apple didn't have to do a lot better in the future than they were doing at the current time. when you get into a google or amazon, you are paying for the future more. the future may be more than justified. >> so, walter, here we have a very smart man who laments missing a big chapter in tech, doubling down on this one. what does that tell us? >> well, it tells us that apple is a very secure, stable, good company because warren buffett is incredibly smart. he goes with companies he knows will be doing fine

sara eisen, jon fortt at microsoft's edu event in midtown, manhattan.is morning, apple is going to have earnings after the close tonight. stock hits another record high, its cash hoard could swell to a quarter of a trillion dollars. josh lipton joins us from apple hq in cupertino with all the details. hey, josh. >> well, carl, apple stock surged more than 60% from its low last may. so can tim cook keep those bulls in charge? after the close today, the street expects apple to report eps of 2.02 on revenue of nearly $53 billion. they are expected to ship 52 million iphones in the quarter. that's because many iphone fans could be delaying upgrades as they wait for that new iphone in the fall. he says the wild card this quarter, gross margins, apple could get stung by higher component prices, but could also benefit as is now withholding royalty payments to contract manufacturers in that ongoing brawl with qualcomm. beyond the hardware, a lot of attention paid to apple services which includes the yapp store ad apple music. they expect to reiterate comments f

. >> joining me, john along with sara eisen. dow up about 37 points. our top story today is going to be the white house, moments away from officially unveiling president's budget, expected to include $3.6 billion in cuts. mull mick mulvaney will be holding a briefing in a moment. in the meantime, joining us is former cbo director and treasury for secretary phillip swiggle. good to have you both with us. >> good morning. >> dan, every time we get a budget, obviously, we make all the kaf ycaveats of challenges e it's reality but what strikes you about this initial proposal. >> you know, the budget was really only three numbers, if you will. revenue, discretionary spending and what we call entitlements or mandatory spending. in this budget the president proposes to cut discretionary spending, particularly domestic, and some entitlements, particularly medicaid. but he leaves off the table, as he did during the campaign, social security and medicaid -- or medicare, i'm sorry. of course, interest on the debt you can't cut. so, there are substantial portions

. >>> welcome, everyone, to "closing bell," i'm sara eisen. >> sell in may, go away, at least for todayy to strength in text stocks, and we have a pair of money managers who say the biggest bet this year is to buy in may and stay to play. they join us in a moment with those strategies. >> glued to the bank stocks this afternoon, selling off around 1:00 p.m. eastern time after president trump said he would consider breaking

i'm carl quintanilla with sara eisen, david faber at the new york stock exchange.s morning 37 points to the downside for the dow on a shortened week but one that will bring a lot of information our way, a lot of it involving the consumer, whether it's income and spending, auto sales, jobs numbers on friday. >> our road map for the hour begins with a shakeup in the staff at the white house. the president just returning from his week long trip abroad. we'll get you a live report straight ahead. >>> amazon shares trading above 1,000 for the if, time ever. we'll break down the company's upswing. >> sluggish start at the summer box office. memorial day weekend sales hitting its lowest in nearly two decades. what it could take to revive the industry. >> centennial swnt consumer confidence. >> three seconds our may read on consumer confidence, expecting the number a little under 10. we ended up a little more than 120 than expected, 117.the, looking for 119.8. that follows a 120.3 so obviously a bit lower. just to keep in mind the march read was 124.9, that was the best si

i'm carl quintanilla with sara eisen and david faber at the new york stock exchange. trying to assess the impact of jim comey's firing over at the fbi. along with earnings from disney. looking forward to snap and some retailers tonight. oil is also working as we get some inventory numbers in 30 minutes. >> our road map starts with fbi director james comey out after being dismissed by president trump. we'll get a live report from washington and hear from the former fbi assistant director straight ahead. >>> disney taking a hit over concerns about espn's subs. we'll hear what bob iger had to say about that and more. >>> one of the nation's largest home builders lennar spinning off the five point holdings. going public right here at the nyse. we'll talk to the ceos of both of the companies. >>> president trump fired james comey, the white house cited his handling of the investigation into hillary clinton's e-mail server. our kayla tausche is on capitol hill where mitch mcconnell and chuck schumer both spoke on that topic. >> as the white house moves to install the interi

. >>> welcome to "closing bell," i'm sara eisen in for kelly evans at the new york stock exchange.back. >> thank you. i'm bill griffeths. nasdaq fighting to stay positive, it's not there now. awaiting apple's earnings after the bell. getting the big guy. >> aetna the winner today, despite ongoing pressure in the obamacare business. coming up, the

sara eisen's recent interview with stanley fischer brought up specific points.'s the vice chairman. i think the market is teed up here. >> sorry guys. make sure we hit it on time. quick check on the markets. s&p down 6.5 points. russell down 10. nasdaq down by 31 points right now. get straight to steve liesman for the fed's decision on interest rates. steve? >> no change in interest rate policy. the federal reserve maintaining a 0.76% to 1% range for the federal funds rates. it expects future conditions to "warrant gradual hikes" a sign rate hikes could be coming down the road and no change in its balance sheet policy. the federal reserve will continue to reinvest those securities that roll off, and so continue that balance sheet policy. it did note economic weakness saying that growth and activity "has slowed" saying household spending rose only modestly and noted a decline in march core inflation. it did say, "the fundamentals underpinning the continued growth of consumption remains solid" added "the committee views the slowing first quarter to be transitory"

i'm sara eisen here with david faber and mike santoli live at post 9 at the new york stock exchange.y off. let's look at the markets because stocks are higher. fifth day in a row. fractional gains here by the s&p and nasdaq both within a few points of a record high. oil is unchanged. if it is higher that would be a sixth day in a row as it goes above $51 a barrel as the opec meeting gets oourd in vienna. >> let's start with the retails. tiffany, lowe's, advanced auto parts, all are down. we' we'll dig through this wreckage. >>> and moody's slapping china with a downgrade. >>> and plus intuit's tax season success. beating the street and issuing an outbeat outlook. >>> let's go to diana olick for more numbers. >> reporter: it's a miss on existing home sales, down 2.3% to the seasonably adjusted 5.57 million units. the street was looking for down 1% and march is very strong read was revised down as well. we are now up just 1.6% in sales year over year. that is below expectations. what's the problem? a lot of listings for sales. inventory is 1.93 million homes per sale. it's the 23rd str

i'm carl quintanilla with sara eisen, david faber at the new york stock exchange.oints. we await for the fed statement at 2:00 p.m. time. we have adp and tesla tonight. >> we have shares of apple slipping after the company reported revenues missing estimates on lighter than expected iphone sales. a deep dive into the results straight ahead. >> the stocks losing some ground. wall street awaits the fed's decision this afternoon. we'll hear from a former fed governor. >> sprint on the move. it narrowed the loss as it added phone subscribers. >> let's get to rick santelli. >> you know the biggest swath of the economy is the service sector and the number is 57.5. that's much better than expected and it follows 55.2. it is the second best number since october of 2015. because in february, we had 57.6. so that gives you an idea that it might not be the best number of the year, but it's the second best number in a while. now let's go through some internals. since it's jobs week how did the employment index look? well, it was steady, but a little lower. last look was 51.6 a

i'm sara eisen here with david faber and mike santoli live from post 9 at the new york stock exchangeok at where we are on the markets after a turbulent week for stocks. turbulent week for politics. it does look like things are steadying here. the dow is up 87 points. s&p 500 building on more than half a percent gain and the nasdaq up 0.6. tech is another standout. wti also joining the party. it's up 1.6%, david. >> let's get tour road map this morning. it's -- let's start with the president's first foreign trip as commander in chief. we'll give you details. >>> and stocks bouncing back after a wild week of trading as wall street's washington worries take a pause. we'll bring you analysis straight ahead. >>> plus jcpenney making a shift in strategy focusing on a new set of customers, other businesses, will it work? >> but first, our top story is president trump gets set to leave washington on his first trip abroad as president. deputy attorney general rod rosenstein has just arrived back on capitol hill set to brief house members about the firing of fbi director comey. eamon javers is