i'm sara eisen here with mike santoli. time for some must-read tostori.nning out for nafta. despite all the risks which he lays out quickly ratifying an amended agreement could provide a positive outcome for all three countries. the current mexican administration has little to lose from a good deal that mitigates economic risk. canada has everything to gain. for the u.s., an interim outcome eliminates uncertainty about a future mexican negotiating counterpart. talking about the rise in populism over there. y secu yes, security may be the main issue in mexico but there will be a lot of posturing in mexic >> if there is not an interim deal before then, you may not get as good a deal after >> correct he says you only have a certain window since the clock is ticking since wilbur ross, the commerce secretary, notified congress of his intent to renegotiate. but what looks likely at this point is an extension into 2018. that's the worry here he says, because you may not get as cooperative of a partner or as good of a deal >> was so much momentum in that directio

i'm sara eisen >> i'm dominic chu in for wilfred frost.t's throwback thursday, here's a one-hit wonder, "i'm blue. >> you wremember this. >> who could forget. it was all over new york >> all over cincinnati, too. glad to have you here. >> good to be here >> let's check in on the global markets after broad-based rally yesterday for u.s. equities comeback futures set for a higher start dow jones up 33. financials were a big driver after the stress test results. nasdaq up 1 point. s&p up 4 the banks led the session yesterday. they came out with much bigger than expected cash returners in the forms of buybacks and dividends. the fed blessed all of it financials got a further boost after the close. there's the early action in terms of the xlf, the etf that tracks financials, up 1.5 in the early action what's helping the banks is the ten-year treasury note yield has been bouncing. certainly off the lows of 2.13 we saw this week 2.24 not bad. some selling of treasuries for the last few sessions sending yields higher. >> if you get those yields hi

i'm sara eisen here with mike santoli.utures pointing positive after another selloff on wall street yesterday. dow futures up 48. s&p are up about 5 nasdaq futures importantly up 8 after another sharp slide for the tech heavy index, down 1.8% at the close nasdaq having its worst week of the year since back in december. let's show you the f.a.n.g. stocks in the early market action see which indication we're getting. a little bit lower, even after they sold off hard yesterday we'll see if that sticks later >>> time for top trending stories. jay-z's new album 444 dropped at midnight it's been met with some angry fans 444 was slated to be exclusively available through tidal and sprint but only people who signed up for tidal and sprint before the album's release will be able to sulk's access it. but the real story is around jay-z's lyrics in 444 he addresses cheating allegations and seems to confirm his mistake. we never knew if that was for real or in tnot. >> i hoped there was a private apology before this. a year plus is a s

i'm seema mody in for sara eisen. >> great to have you with us with us forever the rest of the week >good to be here i'm here thursday. >> i'm off friday, which is nice indeed straight to the global market picture. futures pointing higher. a decent day on wall street. about a half percent of gains for the s&p and dow. the nasdaq led the charge higher by 0.4%. an important rebound for the tech sector after two sharp days of selling during those two days, the other sectors did not follow suit to the down side and the down side for tech only a two-day occurrence the nasdaq the best performer up 0.7% yesterday for the s&p, 10 out of 11 sectors positive only telcos down the dow is up by 20 points oil prices falling on a surprise build in api crude inventories and a new report from the iea saying demand growth won't accelerate until next year we have about a percent slide in i'm prices bang on $46. it was down more like a percent and a half so we stemmed some of those losses this after a three-day gain for oil prices up about 0.8% yesterday. we will get an official read from the energy depa

i'm mike santoli along with sara eisen. ashington this week, former fbi director james comey is schedule dodd testify at a senate hearing. nbc's tracie potts joins us with more, good morning, tracie. >> hi, mike and sara, this is the first time since we heard from comey since fired by president trump and we're allergy lawmakers grill him on conversations he had privately with the russian president. and did the president try to pressure the fbi director into backing off that investigation. it will be the first time he's addressed that publicly. also, this week, we expect to hear from the head of the national security agency and the director of national intelligence. same questions from them. what were the conversations with president trump? did he get the impression that he wanted him to back offer the investigation? of course, this is all part of the bigger look that congress is doing on whether russia tried to influence our election. russian president vladimir putin says no, he also with an exclusive interview with nbc's me

i'm sara eisen here with michael santoli.are worldwide today because will fred frost is in london covering the british election tomorrow. we'll hear more from him, a lot more including great guests in just a moment. first, let's check in on the futures this morning. after a second day of losses for u.s. stocks, nothing severe in terms of the decline, but, still, it was two days ago. >> a little bit of caution building up. >> caution into a triple event risk kind of day. comey, british election, ecb all out tomorrow. futures looking up this morning. up 12 points. s&p futures up 1 1/2. nasdaq up 7.5. rebound morning. treasury note yield, the trade there yields back to november lows. gold to november highs. dollar to november lows. so we're starting to see all of this retracing of the trump trade. 2.15 is the yield on the ten year which is pretty much the low of the year. there has been a lot of demand for ten year treasury yield -- ten year treasuries keeping yields down hurting groups like financials, boosting groups that are

sara eisen has more on the threat to the grocery industry. >> reporter: the grocery industry in the u.s. may be forever different. amazon's bid to buy whole foods sent stocks of grocery stores, from kroger to walmart, tumbling. why? amazon has deep pockets. that means it can lower prices of whole food's natural and organic food products, leaving other groceries no choice but to cut prices as well. lower prices might even make that organic food more accessible to a wirder customer base and steal customers. that's why the packaged food companies like hershey's also saw stocks fall on the news. amazon has a broad national reach through its prime program, prime fresh, prime pantry, and other lines that could help sell whole foods branded products all over the country, far beyond the 400-plus stories that whole foos operates. but the biggest question for the grocery industry, how does appears see the future of groceries? is it online, in-store, some sort of hybrid? we don't know yet, but the biggest online retailer buying one of the biggest organic groceries could bring an experimental testi

i'm sara eisen along with wilfred frost.s time for our must-read stories that are catching our attention. i went to the "usa today." portland has seen enough says ted wheeler, who is the mayor who just to recap here has tried to revoke a permit for a bunch of rallies on sunday for pro donald trump free speech in downtown portland. the reason he did this, he said it would exacerbate pensions following last week's deadly stabbing on that train. he writes while the planned demonstration is constitutional it's highly irresponsible in the wake of the horrible act of racist violence. our community is still in shock, in mourning and we're angry. there's never a good time to bring messages of hate to our city. there could be no worse time than now. i guess they're worried about hate speech, they're worried about more nationalist alt-right messages coming at a time where portland is still in mourning after those heroic acts. >> that coming from the mayor himself. my pick in project syndicate, "standing up for europe" written by georg

i'm sara eisen along with wilfred frost.e for our must-read stories my pick is in the "wall street journal" from the ed board, "tru "trump's new sugar high. i picked this because the "wall street journal" has wavered in terms of support on president trump's economic policies, but one that they have consistently disapproved of is the trade policies, renegotiation, protectionist impulses this deal was made between the u.s. and mexico. basically the journal ed board says it results in higher prices for consumers. the new minimum price for raw sugar is 23 cents per pound, up from 22.5 cents. the world market price is 14 krefr cent if this is a glimpse into team trump's trade policy it no, i didn't pretty. the dell suggests the strategy is to use government power to enforce cartels that protect plitt kay powerful producers, and mexico's decision to roll over may encourage the white house protectionists to ask for more so much for the little guy >> it's an interesting article it leads nicely into mine, which brings it to what this

i'm sara eisen along with wilfred frost.is time for our must-read stories catching our attention. everybody is rehashing the decision by the trump administration to pull out of the paris accord. i went with trump could spur the rise of a new not so liberal order because it c order. he characterizes the way trump views the world as competitive with the rest of the world instead of cohesive. he says that is no so far off, but in 1945 the world changed in the wake of two of the deadliest wars in human history with tens of millions killed and much in europe and asia physically devastated. the united states created institutions, rules, norms that would encourage countries to solve differences peacefully, negotiations rather than war. a rising tide could lift all boats. that historical perspective is necessary at a time like this when you hear about this president going in the opposite direction, pulling away from institutions, multi government agencies, which may be flawed. and president trump struck a cord -- >> it's been framed

i'm sara eisen with michael santoli. willford frost from london.e await prime minister theresa may. the must reads, do we have a lot of them. i picked peggy noonan in the wall street journal what comey told us about trump, noonan, long time op-ed writer, speechwriter for reagan. the worst part of the testimony she says is when the president pressed mr. comey for his personal loyalty. presidents don't lean on fbi chiefs in this way. at odds with traditional boundaries, understandings and protocol. embarrassing to read, she says. it is how someone who learns about government by binge watching house of cards would play. it was bumptious, a colorful read, a good summation and not a takeaway. she sort of puts two questions out there. one on the legality, she said, as many people say this morning, no smoking gun on whether it is obstruction of justice, and the other point, i'm clear what it is going to mean for his supporters who may not have even watched the comey testimony. >> watched it and if you went to the supporters, it echoes what paul ryan said,

i'm sara eisen >> i'm wilfred frost good morning to you from me as women.ell >> yesterday, tech ended up lagging the market, leaving the nasdaq with a bigger decline as for futures dow futures are little changed down about a point nasdaq futures continue to sell off, down 26 points. s&p futures are down two moves in the euro following comments about mario draghi. draghi says growth in the eurozone is abovetrend and broadly based. a decent jump in the euro over the course of his speech up 0.64% the key soipoint is he aid all signs point to strengthening and recovering that gave the euro the jump on the news he said inflationary pressures seem to be replacing deflationary pressures most of the speech was dovish, indeed he did say loose policy was still required tomake sure inflation dynamics became durable. any changes to policy would be gradual. the broad term was dovish. the market focusing on those core comments about the economy and saying the economy is broadening european markets on the back of this are suffering stronger euro is not good for markets. b

. >> i'm seema mody in for sara eisen. >> great to have you here. >> welcome back from london. >> goodo be back another surprise june election result in the uk we'll get the fallout from that in just a moment let's start with what u.s. futures are doing after an extraordinary trading day on friday we hit record highs in the morning and a tech inspired selloff in the afternoon meant lackluster returns for the dow and the s&p and disappointing returns for the nasdaq, down 1.8% on friday the money did go elsewhere energy up 2.5% on friday's session. for the week as a whole, while tech was down 2% financials were up 3%. a selloff in the tech sector the rest of the indices holding up all right the dow was up by 0.3% the s&p slightly lower and the nasdaq down 1.6% for the week. this morning expecting softness. the dow called lore wer by 42 points the ten-year ending at 2.209 >> the selloff in tech extending to asia. some big heavyweights there, samsung, acc holdings and ten cent closing down by 2% on the day. the nikkei holding on to a loss of a half percent. data out overnight from japan, c

i'm wilfred frost. >> i'm seema mody in for sara eisen. what is that four-letter word?u generously just suggested it might be w.i.l.f., but i don't think it will be that. >> or mody >> could be all sorts of things. i don't know what the story is do you know what it is >> we'll see >> a look at futures at this hour pointing higher again, but not as strongly as yesterday the dow up 0.7 the s&p up 0.8 nasdaq led the way up 1.4% the likes of apple gaining the best part of 3%. 8 out of 11 sect oefrts s&p worp were up. the s&p is now red the dow and nasdaq still hanging on to fractional gains in the premarket. asian trade for you. gains in japan the yen was a bit softer yesterday. that's allowed the nikkei to rally today. hong kong and shanghai just below the flat line. europe showing gains again today. not as big as yesterday. yesterday a percent or so of gains. today about a third of a percent. that allowed the dax to hit a record high. it's on track almost to be at a record close we'll keep an eye on that we saw the efo institute in germany up grade the forecast for german

i'm sara eisen >> i'm wilfred frost good morning to you from me as well >> throwback thursday.e're throwing it back for the best anthems for pride month let's check in on the global markets. showing you what's happening with futures after mixed ending to yesterday's session the nasdaq rose about 0.p% the dow and s&p finished lower. biotech has been strong lately we'll talk about that. >> it was a big turnaround from where we stood this time yesterday. the nasdaq was down about a half percent and ended up three quarters of a percent. >> the futures were not a tell for the session. nasdaq futures higher. nasdaq down 1, s&p down 3. not a lot of movement this morning. oil prices front and center. those low prices a drag on energy stocks for sure also keeping yields lower. wti, 42.44, down about 0.2%. brent crude below $45 a barrel nat gas higher this morning. >> that meant energy was the worst performing sector but only just beating banks in terms of the under-performance. energy down 1.6% banks down over 1% focus on them again today ahead of the stress test results asian equities

i'm sara eisen >> i'm wilfred frost good morning and happy summer to you from me as well.rket action before we hit the big three stories fut dlures after a day of declis the dow down a third of a percent. the s&p was down 0.7 the nasdaq down 0.8% we look like we have stemmed some of those concerns the dow and s&p essentially flat asian trade for you soft apart from china china getting a bump from the announcement that it will be included in the msci index. shanghai's foreign ownership only 2%. that inclusion could make a material difference once they are included next year hong kong and japan soft softness in europe as well playing catch up to yesterday's selloff in wall street energy names continue to face some pressure as they have here in the oil price weakness. >> oil prices, after yesterday, wti dipped at one point below $43 a barrel officially into a bear market. 20% off the havenrecent highs wti is weak again this morning brent just below $46 a bar rechbarrel >> the ten-year, 2.15 is where we hit yesterday we dropped below there this morning because of the lack of i

i'm mike santoli here with sara eisen. time for today's must-reads.n the "washington post" entitled "why repeal and replace will become tweak and move on. the healthcare debate will be about not whether there will be a thick fabric of government subsidies, mandates and regulations but about which party will weave the fabric. so repeal and replace will be tweak and move on. even if there are significant improvements, obama will have been proved right when he compared the aca to a starter home the point being there's no real overhaul of healthcare that's possible just a structure that grew up over the years, so let's stop talking about a true wholesale comprehensive replacement. it's just about who will get the credit or blame for specific changes to this particular bill, and who can take that into the next election. >> i'm not sure with the delay on the healthcare vote that the lawmakers would agree with that. >> they want to call it a repeal no matter what happens, it just is what parts of the aca will they recall and call it a repeal >> my pick is in

i'm sara eisen. here at headquarters with mike santoli. thank you for being here.fred frost is in lont covering the uk election. more from him in just a moment. plus, wilfred, throw back thursday, throwing it back with songs from british artists. not slow songs from british artists. that will be wilfred's. >> and david bowie, let's be honest, he was a new yorker. >> that's true. i'm glad these chose a bowie song, though. >>> u.s. futures up on the back of a mini rally yesterday. dow futures are up 23 points right now. s&p futures up 2 1/2. nasdaq futures up 8. mike, you said there was a little bit of a move higher yesterday when the comey testimony was released. interesting because we knew this was a big market risk event but it gives us a clue as to what the market risk was around this testimony. >> i think the trading programs were sidelined, waiting for any information. and then they did have a bit of a reversal. it was narrow moves, but it went from negative to positive and it was pretty much timed right with the release of the testimony. and i think it was, ag

sara eisen takes a look at nike's plan to be more nimble. >> reporter: nike is cutting jobs, slashing 1400 positions, 2% of its global workforce, all part of a new strategy to focus on selling faster and more to consumers directly. also part of the plan, slimming down the number of product lines by 25%, and zeroing in on 12 key cities where more than 80% of sales growth is set to come from, including new york, london, shanghai, beijing, and l.a. the back story to all of this, nike's growth has slowed down lately. it's also getting crushed by a resurgent adidas, whose retro sneakers and kanye west products have been a big hit in the united states especially. nike is feeling pain from the broader weakness in retail right now. department stores are suffering. and nike feels the impact of heavy promotions and slower traffic. that's why the company's strategy had been and continues to be on selling directly to the consumer instead of foot locker and macy's, focusing on its own website, its digital presence, apps, and its stores. clearly consumers are changing habits, tastes, behavior, and

john fortt and i are back, joining our sara eisen once again. >> good morning, guys.ay nonfarm, calling for 184,000. national quick director gary cohn spoke to "squawk on the stre street" earlier this morning. >> when you look at how many people we brought back into the workforce and you look at the u6 number, the fact that it's down since inauguration day, we're clearly bringing people back in the job force. that said we want to continue to grow the job force and the president has talked about that. that's why we're so focused on tax reform and infrastructure. we believe we have to create a better and better job market in the united states. >> for more on the number, the market reaction, we are joined by jp morgan's chief strategist. david, i'll start with you. on a weak number like this across the board, is it a blip, speed bump in the trajectory or a signal of a bigger, more worrisome trend? >> the good news is that it's tight as a drum. the bad news is that it's as tight as a drum. i think there's more to it than just a blip. you look att auto sales. it looks like

. >> and i am sara eisen >> let's get to the global market picture on friday, essentially margts were flat end, dow s & p as a whole, down around 1%. the dow was up half percent, s & p flat as far as sector performance, tech the worst, down a% for the week as a whole on friday itself energy was the sector that outperformed up a percent as all prices rebound toward the back end of the week have a look at what futures are doing, higher by 74 points gains in europe and asia at the moment more on those in a moment. british pound for you this morning holding just above the flat line, up about a quarter percent. 128.04 brexit negotiations begin to take place also because of a developing story out of london. we will come back to markets in a moment a man drove a van into a crowd near a mosque in london. >> reporter: good morning. unfortunately this is an all too familiar sight in central london, fourth attack in the uk in less than four months what we know is shortly after midnight, a man driving a sizable white van swerved off the road onto pavement aiming at a number of pedestrians. one ma

i'm carl quintanilla with sara eisen and david faber at the nyse.tive premarket. oil still down about 1%. we're watching fallout from the london terror attacks, a rift in middle east politics, vis-a-vis qatar. ahead of a busy week. >> our road map for the hour though does begin with terror in london. seven people are dead, dozens more injured in an attack just days before the parliamentary election. we'll take you there live. >> oil prices moving after saudi arabia and several other gulf states cut ties with qatar. we have the latest. >> and the world's largest cancer research conference is under way. we'll hear from the ceo of brist bristol-myers squibb. >> we have some data crossing right now. over to rick santelli. >> yes, a litany of data, carl. start with ism nonmanufacturing. the service sector, expecting a number over 57. this may read comes in light at 56.9, sequentially following 57.5. weakest since march's number, 55.2. ism nonmanufacturing employment index that moved higher. markedly higher from 51.4 to 57.8. new orders, they moved lower

. >> i'm seema mody in for sara eisen.appy friday to you. >> i was going to say the same to you >> took the words out of your mouth. >> happy friday to everyone watching let's look at the global market picture. we were essentially flat for the week coming into today for the dow and s&p. higher by about 1.3% for the nasdaq ahead of today's trade. futures pointing to a modest positive open. 30 points, just shy of that for the dow. 13 for the nasdaq, 13.p for t3 nasdaq an energy led story, the sector down 3% for this week. it is the worst performing sector, 9 out of 11 sectors have been in negative territory the week to date average return has been propped up by the tech sector the nasdaq the out-performer of the three indices. oil prices have been front and center all week. slightly higher today by a half percent. slightly higher by half a percent yesterday. as things stand now we'll look at about a 4% decline for the week 3% decline for the week as a whole. ten-year treasury note has been flat around 2.15 area. 2.16 this mo

i'm sara eisen. >> i'm

i'm sara eisen here for kelly evans today. here's how we're finishing up.ine for s&p and dow looking like it's having its worst session and same is true for the s&p 500. nasdaq heavy performing. and the russell 1000 along with transforts also underperformed the broader market oil is a big part of the story as well following a bear market. we'll discuss it we've also got earnings from fedex and adobe this hour. we'll bring you the results as they come out, and also this hour a big decision. investors have been waiting a long time. we'll get word from nsci whether they will include the chinese stock market in their indices, and the chief executive and head of index management will be joining us as soon as that decision breaks to talk about it that's coming up this hour on the "closing bell. let's talk about this market today. on panel senior markets commentator as always mike santolli and jason ware, chief investment officers at albion financial and michael cogina, asset manager at permanent portfolio funds. overall indexes were modestly lower. i mentioned a

. >> i'm seema mody, in for sara eisen today.s throwback thursday and african-american music appreciation month so we're taking you back to some of america's most notable black artists. enjoy the music as it comes. >>> a day of declines yesterday, slight for the dow and the s&p down about 0.2% for the s&p. the dow slightly higher. the nasdaq slipped in the afternoon. tech taking a hit. down 0.4%. the same is true this morning. the nasdaq very much the laggard of those three it's down nearly a percent we have about 0.3% decline for the dow. dow down about 50 points the nasdaq down about 56 points. let's look at some tech stocks to see how this is playing out over a percent of declines for the likes of apple, amazon alphabet, facebook, so 1.6% of decline there in google stock. the tech selloff has been reignited once again >> something that we saw on friday, high valuation concerns. there was a noted from bank of america merrill lynch that says a record 44% of fund managers see the nasdaq as overvalued they say the tech heavy index

. >> and welcome to "worldwide exchange," i'm sara eisen with mike santoli at cnbc hq.upert is reporting from london this morning where in a stunning turn of events british prime minister theresa may has

i'm carl quintanilla with sara eisen and mike santoli the dow is down 19, but obviously the storyingly disruptive move by amazon buying whole foods and we see carnage of the other retailers. the market is betting they're in for some tough times at least on margins as amazon moves in we'll watch that story mike santoli, our thoughts on whether or not we're overselling this or not. >> i don't think we're overselling it in terms of economic impact, in terms of the strategic stroke by amazon to essentially become that much bigger and attack a much huger market amazon seems to have to go after the massive end markets and this kind of gives them a head start. the market taking it as just as a net negative for anyone else trying to play near it >> we have some macro data this morning. rick santelli is going to -- hey, rick. >> hi, carl, yes, it's preliminary because these things can change we're looking for a number, a lot loftier than the 97 camp and we ended up with at 4 -- 94.5. that follows 97.1. the weakest level of the year and then hook in another two months and it was the lowest lev

sara eisen is live outside the white house.ck check on the markets we got an intraday on the fed today. we'll get a statement and a presser this afternoon and we seal whether some of -- we will seewhether some of the weak data alters their outlook first up, to kayla tausche at the scene of this morning's shooting what's the latest? >> well, carl, residents of this neighborhood are stunned that baseball game that -- the baseball practice that took place early this morning, while residents here were walking around with their dogs, with their children, the shooting was described as fireworks, construction that's what residents mistook it for early on then pretty clear it started to fire like a firefight two different residents used that term to describe it. within a minute, multiple residents had called 911 one i spoke with had to wait 90 seconds before he could speak to the operator, because he said this was an anomaly for this area the charity baseball game is supposed to take place at thursday at 7:00 p.m. and the republican te

i'm carl quintanilla with jon fortt, sara eisen at post nine of the new york stock exchange obviouslyur top story of the day is amazon buying whole foods for $42 a share. the deal valued at $13.7 billion. it's amazon's biggest deal ever in its life as a public company at least and the biggest u.s. grocer m&a deal ever. and for the purposes of our hour, which normally focus on tech, a nice intersection between an old, old school business and a new one. >> it's amazing. just from a headline perspective and news that affects people, i can't remember a deal this big i mean, maybe aol-time warner, but you can't eat time warner. it's really a way of bringing things together unlike so many people who are this deal is amazing, i see a number of challenges, potential problems with this deal not necessarily getting consummated, but actually making it work. the logistics operation that you need to run a whole foods is way different from one that you need to distribute using e-commerce if i want cheerios and gatorade, whole foods doesn't sell that so how do you blend the whole foods operation for

jon fortt, sara eisen and myself at post nine. apple's conference is usually focused on software but this year hardware is stealing the show. josh lipton has that story from san francisco. hey, josh. >> reporter: that's right. apple's ceo tim cook took the stage and unveiled home pod, a new smart speaker. >> we have such a great portable music experience but what about our homes? we think we can do a lot to make this experience much better. just like we did with portable music, we want to reinvent home music. >> reporter: the smart speakers are integrated with siri, designed to work with apple music which we learned has 27 million paying subscribers and $349, home pod is pricier than rival devices from amazon and google. it ships in december. >>> we also learned about new partnerships at last year's code conference, remember, amazon's jeff bezos said the two companies had not been able to negotiate acceptable terms but apple announcing that amazon, prime video is now coming to apple tv later this year. good news for transparent an

. >> good to hear from him, sara sara eisen meantime, united hlteah, j&j and pfizer leading it up 33oints we're headed to a break. back after this. they become something beautiful. attendi attending. if i could i'm going to ask a group ft. meade yeah, stay and see just to your company name and yourself and maybe a very brief remark because we have a lot of people and we'll start from my left diana? >> can you hear me mr. president, mr. vice president, secretary ross, ivanka, jared, everyone here today was part of the aircraft systems talk and i'm very much a proponent of supporting s.t.e.m., women and veterans towards innovation and job creation. >> thank you, diane. >> good morning. thank you, mr. president, for the privilege to be here vice president, all of the distinguished members of the cabinet. i represent honeywell and we play in many different segments including aerospace, automobiles, homes, buildings, oil and gas and it's a pleasure to be here to talk about a very important opportunity for u.s. competitiveness, that being i.o.t. thank you. >> by the way, honeywell, great c

cnbc sara eisen. >>> leadership is front and center. good morning.ming? >> so there's been talk of this for the last few months. ge has struggled. stock price is down 12% this month. in an up market. it's been down since he took over in 2001 and under pressure by an activist shareholder. this was always sort of out there in the mix as an option. the company this morning said this is long part of the succession planning and he'll stay on an chairman through the end ofz the year. keep in mind, he has transformed this company. steered it through the financial crisis, shedding most of the big finance also. and really made it an industrial company. focused on oil and gas, manufacturing, aviation, health care, and by the way, the man who is in charge of the health care business, john flight plannerry, will be taking over as ceo this summer. the question is how does he turn around the company and the stock is a breakup in the cards, that's certainly one of the big questions. also note for purposes of your discussion, this is a fifth ceo and president trump'

i'm sara eisen in for kelly evens.ing up the day and the week on wall street well, the s&p managed to avoid four days of losses. the dow closed in the red but ever so slightly .01% infact the dow, s&p and nasdaq all higher for the week. so nasdaq out performing again it's worth noting russell up 3 bers but as a fifth of republican centers have come in -- but a fifth republican senator has come out against the bill, can any progress be made we're going to debate that coming up here on "closing bell." let's talk about the markets for the week we've got cnbc commentator as always and chairman and founder of navaleer and associates. mike, you have talked about rotation so many times it was oil back on top, energy on bottom. what else stood out? >> i think with bio tech, it shows the habit of this market and the current environment to look for the laggard groups and lift them up it hasn't really helped, but for this -- we closed today at 24.38. but you observe the oil crash and the week or seasonal >> by the way, we talk ab

the european grocers like those big in the uk and europe are down as well let's bring in our own sara eisen and the rest of the supermarket stocks for oppenheimer. he just raised his target toed 45dz from $40 saying that another bid cannot be ruled out. welcome. hey, do you really believe that another bidder could step in for whole foods and, if so, who? >> as i look at the whole foods value, very powerful brand i think they have a unique urban market footprint and they're catered to the hottest trends out there, natural, organic and fresh. if you're another retailer whether it's krueger or anyone who competes in the food space this is a name you want to look at to prevent the threat of amazon becoming more dominant. >> would this have happened without an activist? is this something that organically would have made sense to you >> i think without an activist, no, i don't think this would have happened. i think over the next few quarters as the plan took hold, shares would have made it up to at least the low 40s the activists are behind the timing of the sale whole foods would probably still

i'm carl quintanilla with sara eisen and david faber at post 9 of the new york stock exchange.e morning. the dow is up 49. led by nike. but obviously a lot of politics swirling around. we'll get to all of that. >> our road map for the hour does begin with that big morning carl mentioned in washington. president trump announcing his pick to be the head of the next fbi on twitter. and senate intelligence hearing is about to get under way. we've got the latest ahead of that comey testimony tomorrow. >> macy's getting help after lowering the guide owns. and sears announcing it's closing another 66 stores. >> you will hear from the ceo of adidas, kasper rorsted on how terrorism is affecting consumer sentiment in europe. >>> the president is announcing who he'll nominate as the next fbi director via a twitter. here is eamon javers. >> yeah. the nominee will be christopher wray now in private practice. he announced that in a tweet earlier this morning. the president said i will be nominating christopher a. wray to be the new director to fbi. details to follow. the president clearly fe

i'm sara eisen here with david faber and mike santoli, live at post 9 at the new york stock exchange.ce in rancho palos verdes, california. he will be joining us often and shortly. let's get a quick check on the markets this morning. after a little sell-off yesterday, we start the month of june on an upbeat note. stocks are coming back a little bit. the nasdaq is up the most, up 0.2%. the dow is just barely positive. crude oil losing some of the earlier gains, 38-41 after a 3% slide yesterday. >> yeah, well, speaking of fossil fuels, we start with president trump getting ready to make an announcement on the paris climate agreement. we'll get a live report from washington straight ahead. >>> stocks remaining resilience. the nasdaq hitting another record high and a big jobs report out tomorrow. >>> plus, media moguls are speaking out. >>> but first, more economic data crossing the tape. let's send it out to rick santelli for the manufacturing numbers. >> yes, and construction spending for the month of april was down 1.4%. last month though did have a big revision, down 0.2, now stands i

i'm carl quintanilla along with sara eisen we got a lot of bank speak from dragi and soon yellen. >>> hour begins with eu anti-trust regulator slapping google with a record fine the commissioner, margrethe vestager joins us next >>> senate gop health care billion, cbo score 22 million left uninsured >>> exclusive talks with sprint with comcast and charter for a wireless deal. david has the details straight ahead. >>> it's a busy week for economic data. let's get over to rick santelli. >> we're looking for our june read on the consumer confidence, expecting a 116. we ended up with more. 118.9, following a slightly revised 117.6. obviously, sequentially better, which defies expectations. we need a little context here. march read was rounded to 125, the best since the beginning of the century. that's really a good number. but this isn't bad if we look at the notion of richmond fed and these indexes, that improved a couple as well we were expecting five, ended up seven. markets, 218 on tens might not sound like a lot high yield but about 24 hours ago, we were trading 211. sara, back to yo

i'm carl quintanilla with sara eisen, david faber at the new york stock exchange.te the uk election results last night, we bot the dollar index higher. the ten year yield, the highs for the month, financials and tech are leading the charge today and the vix below 10 once again. >> our road map for the hour begins with a hung parliament. british prime minister theresa may resisting those calls for her resignation as her conservative party loses the majority in parliament. >> then after the choice act victory in the house the president breaks his silence on twitter following the comey testimony. we'll tell you how it all impacts the implementation of his agenda. >>> finally, alibaba surging. sending shares up more than 13% yesterday. jack ma and joseph size speaking earlier. we'll wrap up what they said for you next. >>> first up, to the cme. rick santelli be some wholesale trade data. >> so we replace the preliminary, and the preliminary number was down 0.3. the new and final read that replaces it is down 0.5. month over month down 0.5, you have to go to may of 2013

i'm carl quintanilla with sara eisen, david faber at the new york stock exchange, watching these low somewhere in the 2.14 range but equity weakness moderated somewhat. dow is down 27 points. >> our road map for the hour begins with that retail shakeup. j. crew's ceo mickey drexel stepping aside after 14 years at the helm of the company. we've got the details. >> apple's new product push unveiling a homepod to take on amazon's echo. is the street impressed? >>> and oil falling again on fears of qatari rift could harm opec cuts. live report straight ahead. >>> 9 of the 11 s&p sectors are positive for the year. tech is leading the way up over 20% as the nasdaq posts another all-time intraday high during monday's session. for more we're joined by goldman sachs chief equity strategist david kostin. good to have you. welcome back. >> nice to see you, thank you. >> why are ranges getting tight the last couple of days. are we nervousness ahead of some of the binary outcomes? >> the way i think about it is we have a goldilocks style economy, not too hot, not too cold and as a result relative

. >>> good wednesday morning welcome back to "squawk on the street" with sara eisen at post 9.om alibaba's gateway '17 event in detroit. take a look at the markets pretty muted action. dow is basically unchanged big movers in nike, intel and we're watching the ceo transition over at uber as well. >> our roadmap starts with travis kalanick out at uber. the ceo stepping down. we'll have the details and what's in store for the company next straight ahead. >>> man versus machine alibaba's founder jack ma sitting down what he has to say about the future of the work force and artificial intelligence. >>> renewed push for tax reform. will it happen before the end of the year how will it affect investors. >>> time forexisting home sales. let's get to diana olick. >> existing home sales up 1.1% that's a slightly upwardly revised figure of 5.56 sales are now up 2.7% year over year that's a beat. the street was looking for a very slight drop, but the real headline here is the median existing home price in may, $252,800, up 5.8% year over year that is an all time high on the realtor's repo

. ♪ >>> i'm sara eisen here's what's on the men knew.ing to bail out of the tech names. >>> tech gets trashed today, both calls on amazon amazon who made that bullish call lays out his case >>> a shake up at ge, the second hour of "power lunch" starts now. >>> let's get a check on your money for monday because friday's tech take down is continuing today netflix shares continue to slide, down 5% right now, off 9% in one week. apple stock also lower losing another 3% today outside of technology largely a different story for ge general leskt rick shares rising after jeff immelt steps down what does ge become? wheal try to answer that first, melissa in miami. >> hey brian, i'm melissa lee coming live in the emerge conference in miami. the ceo of sprint, an exclusive he'll address murder speculation with t-mobile. >>> the queen of personal finance, sue se orman joins us brian. >> all right melissa thank you very much. >>> despite the recent weakness your next guest says don't you dare sell amazon stock, in fact you should buy more. he raised

i'm carl quintanilla with sara eisen and mike santoli at the new york stock exchange.wisconsin and a two-day fed meeting begins with a statement tomorrow >> road map for the hour begins with the treasury department, unveiling its financial reform framework. we've got the details. >> the central bank kicking off its two-day meeting. is it time for a rate hike >> another buzzy day on the hill attorney general jeff sessions getting ready to testify live report from washington. >> let's talk some fed to start things off kicking off day one of its two-day meeting our steve liesman joins us this morning with some exclusive results from our cnbc fed survey. they only see 2442 for the end of the year, up half a point not much juice left in markets only 5% by the end of 2018 here is a little bit of good news they think if there's more economics and fundamentals behind what's happening in the market in december 82% thought it was policy expectations of the trump administration driving the market, 18% thought it was fundamentals that's come way down now it's 2:1 in favor of those

i'm sara eisen leer for kelly evans at the new york stock exchange. >> welcome aboard. >> thanks, billerforming sector. today the oil market has entered bear market territory. down more than 20% as its definition what's behind that move coming up in a moment here. >> snap shares getting hit after strong numbers for instagram's story feature were released. we've got early snap investor and star o

i'm carl quintanilla with sara eisen, mike santoli at post 9.the market having troubles get it of the gate the dow is 26. nike one of the dow's laggards with layoffs of about 2% of the global workforce. >> our road map for the hour starts with president trump reportedly under investigation over possible obstruction of justice. we'll get a live report from the white house straight ahead. >>> and we'll take a deeper dive into the rising of the interest rates decision >>> and alpha get got slapped with a downgrade we'll speak to the analyst behind the call next. >>> some economic data diana olick has the numbers for us. >> home buyers sentiment dropped to 67 and may's reading was revised down by 1 point. anything above 50 is considered positive, but confidence has been falling steadily after a big surge following the presidential election and the first executive order lifting some environmental restrictions. given the shortage of housing builders should be happier but they continue to struggle with shortages of labor and buildable lots costs for ma

welcome back to "squawk on the street" i'm carl quintanilla with sara eisen, mike santoli at post 9 ofhange the dow is down 65 two big stories this morning one is the continued sell-off in tech we have stocks like apple, nvidia taking out friday's lows and of course big change, jeff immelt leaving ge. >> a big change at the top for ge jeffrey immelt stepping down, the stock so moving. >> financial reform gaining momentum the trump white house unveiling its plan to ease regulations we'll get a live report from washington. >> tech wreck. the nasdaq continuing to fall. apple under pressure after a downgrade from mizuho. we'll discuss. >> first up, ge is announcing a major shake up jeff immelt is accepting down as ceo. morgan brennan has more. >> well, investors had been hoping for this some time, because the ge shares have dramatically lagged peers. they're down versus honeywell and united tech and they're up 250. flannery will take the helm, adding chairman to that starting in 2018. so who is john flannery? he's a 30 year company veteran who's held a number of top positions in the compan

sara eisen has the details >> good morning.his was highly anticipated since the company said last august there were accounting issues now a year later the company has gone through a strategic and substantial review the biggest headline this morning is that no restatement of earnings or material changes to the balance sheet is -- it looks like they've done a comprehensive review hain concluded no evidence of intentional wrong doing in connection with the company's financial statements that's the big headline and question for inves tors going into this. they have got their backing from ernst and young auditors all of that would come as good news it's the first time we're getting financial results from the company in about a year. let me go through some highlights of that for you i mentioned the good news. that could be why shares are up 2.7% on the idea there's no restatement or any major changes. here's the numbers to know for the fourth quarter, they came in a bit light. 715 million in revenues versus 724 estimated. 40 cents to

let's go live now though to the new york stock exchange and sara eisen, how's the business sector reactingf the paris climate agreement. >> big business is speaking out and lobbying president trump to stay inside the paris climate. the argument says it helps u.s. competitiveness on a scale and protects american jobs. we know those are all issues that are front and center for this president both on the campaign and as president. today, companies about 25 of them signing a letter taking out a full page add in the d.c. arguing to stay in companies that include apple, facebook and google. it's not just technology companies, though. it's companies across the spectrum. that even includes energy companies like bp, shell, exxon and chevron all urging president trump to stay in and even though it might ultimately limit their exploration they want the consistency of the policy and the u.s. at the table. coal companies have been asking president trump to stay in, also some of his closest ceo advisors, elon musk of tesla threatening to leave if the president stays out. also wanted to mention aetna cou