in january rose 6% of according to the schiller index.the perfect expert on hand to analyze them. >> we just broke the january casers for the s&p schiller index. the home prices rose 5.7% year on year. to some insight, who else, the cocreator of the index, robert shiller. looking at house prices, despite what is happening globally and domestically, things are still looking ok? we are threatened by the world economy, but here is looking ok. in ang prices are going up number of places. that is a sign of our general optimism. >> as opposed to the general year-over-year gains were sent in cisco, portland, and seattle. is there a danger that we are seeing more in the shiller data it is those hubs creating bubbles and not the rest of the country is benefiting from the housing upturn? >> right now we are in a mood in the world economy. trusting technology and not trusting our hands to do labor. on the other hand, other high-tech cities like boston didn't do well. it seems to be regional. it is interesting to see how much home pricing movements c

schiller. at house prices, despite what is happening, domestically in the u.s., things looking ok. is that your take? >> we were threatened, with things are looking ok. house prices are going up any number of places. that is a sign of argan optimism. >> the cities with the big gains were san francisco and portland and seattle. is there a danger that we are seeing more and more in the schiller data that those hubs are creating bubbles and not the rest of the country is benefiting? now, in the world economy, we are in a mood of trusting technology and not trusting our hands to do labor. on the other hand, some high-tech cities like boston did not do well. it seems to be regional. it is interesting to me to see home price movements correlate over hundreds of miles. immunity that are hundreds of miles in diameter. -- communities that are hundreds of miles in diameter. signals have been mixed at best. for better or worse, economic policy was squarely in the spotlight this week. to the world of polit

and the second panel is the one that has ackman, pearson and schiller on it. >> as we see, the hearings under way. the first panel there is testifying, being questioned by the members of the special committee on ageing there. and as soon as the second panel gets under way, we'll take you live there. >> and, meg, for now. meg terrell, we'll see more of, of course, hopefully next hour. >>> time for a cnbc news update with sue herera. >> hi. here's what's happening, presidential hopeful donald trump giving a rare formal speech on foreign policy. the republican front-runner criticizing the current white house policy. >> it's time to shake the rust off of america's foreign policy. our foreign policy is a complete and total disaster. no vision. no purpose. no direction. no strategy. >> trump's sweeping the northeastern primaries last night and now holds 77% of the delegates needs for the gop nomination. >>> a trust company will temporarily oversize prince's multimillion-dollar estate. a judge makes that decision six days after the musician died. >>> a pilot getting busted for driving drunk o

schiller, and your deposition, you said you wish you had opposed the decision to hike the price is soly and dollar once. -- and all at once. you said it was too aggressive, and valeant had made mistakes. mr. ackman, in your written testimony, you said the written criticism of valeant's pricing appropriate, and maintain your commitment to ensuring this approach is never repeated. mr. pearson and mr. ackman, in light of your regret that you have expressed, what specific actions are you taking? are you going to lower the drugs andthese four other you have acquired, where the price has been hiked, so that they become mr. -- more affordable? mr. pearson, i will start with you. yes, we have been too aggressive on price increases. that is why we took the step of offering the discounts. we have not raised prices at all this year, in terms of neurology and other business that we have, -- our mostproducts important divisions, which are dermatology and bausch & lomb, we're reducing drug prices through walgreens. these are consumer products, so people pick those up at retailers. we do have a fair

robert schiller won a nobel prize.cisco house prices continue to move up 1.1% in the last month measure. overall gain from this time last year, 9.3%. we did see a hiccup last month. case-shiller defining san francisco the same way that the u.s. census does. that could be misleading. it's not just san francisco but oakland and down the east bay, as well. it does not include the peninsula. >> we are waiting for new data from twitter today as well. the san francisco company reports profit. they care more about the users. show me the user. last time twitter reported three months ago, it said it had gotten smaller. investors will be very alarmed if that user broke continues. big news out of amazon. it's joining door dash and uber eats to deliver food in san francisco and will do it for free. there is no mark-up. whatever you pay for the burger at the restaurant, that's going to be the price. offering $10 off if you try it. the company has done this in other cities not for free. it's going to be a long day of meetings at doo

. >> mccaskill then asked howard schiller, the former cfo, and he volunteered one drug that didn't havencrease on it. they said they're going to fact check that. some members of the committee focusing in on bill ackman, as he is now a director of valeant. >> so, a lot is going to change. we have a new ceo. starting probably monday. a lot of the board is going to turn over. so we're going to have a new board for the most part. we're going to have a number of the new directors that have a tremendous amount of pharmaceutical industry experience. and pricing will be top of the line. to your point on the decline in market cap, i think the -- right now companies where price has a meaningful profit, that will -- >> part of the testimony has been going on for an hour. we understand that senator elizabeth warren just came in and sat down and may ask these guys some questions. expect it to get more intense before it wraps up. >> should be interesting. the fact that pearson and ackman are basically saying these big drug price increases will not happen again, and ackman saying essentially the board

mike pierson, valeant director howard schiller and the valeant director bill ackerman.e written testimony that came out today, mike pierson acknowledges he'll be leaving the company in a few weeks as joe papa from parago takes over. he said it will be in the next few weeks. he acknowledges mistakes made. the company was too aggressive and i as its leader was too aggressive in pursuing price increases on certain drugs. let me state plainly, it was a mistake to pursue and in hindsight, i recredit pursuing transactions where this was an increase in merchandising medic. he is referring to two heart medicines focused on here. he was questioned for nine hours last week. so very closely watched. >> everybody will be paying close attention to what bl pearson has to say along with bil ackman. thank you so much. see you later. for more on valeant, let's bring in the senior analyst at wells fargo. he initiated the stock with a sell rating in february. david, welcome. >> i mean you obviously been right. this has been a disaster. why should we think that it's not ready for a turn ar

. >> reporter: trouble also suggested that japan and korea should have the new schiller weapons to protect itself. >> tran: this is seen outside a target in a loss angeles after a car crashed into the store. this happened early sunday morning. chp officers are saying that they lost control of the car and then hit the side of building four. people were injured and nobody was killed. they are in critical conditions police now believe drugs and alcohol were not in the the ball to the act since. >> darya: supervisors are did one to decide to whether employers will pay 45 percent of employees pop paid during maternity leave. supporters say that lowering, parents will feel the stenholm. some businesses say that it will be too expensive for players/ >> tran: taylor slept with disneyland but it was her bodyguard who stole the spotlight. it's gonna get hot in the bay area this week and we'll tell you when temperatures are expected to peak. here's a look at the san detailed bridge. >> darya: to beetle died and 32 or injured when an amtrak train derailed it was just south of south philadelphia when 3

schiller has come out with its 20 city home price index. a jump of 5.38%.y. we were looking for 5.5%. better than a stick in the eye. this. grasped last fivee over the years, price gains into the double digits. we have settled about 5% gains throughout 2015 and 2016. 20 city home price index, 5.4% year-over-year. jonathan: here with us, cio for global fixed income. welcome to the program. bp, number one, surprising with profit haired wife standard chartered is surging over in london. first earnings trading higher today after post a surprise profit was stronger than expected performance. lowest in 12d the years during the first quarter. -- wednesday, exxon, chevron, announced too much on friday. is a backup seen videos together with crude pushing higher. the question is what is underpinning the bonds we have seen in the last couple of weeks. is it just oil? is partnk no doubt oil of it. we have not track the growth of the quarter this year. you think about what happened, the u.s. did not grow that quickly. but if you take that into 5%ount, third u.s. and abo

case schiller report on home prices at 9:00.board consumer confidence index at 10:00. earnings from apple due after the closing bell. results also due out this afternoon from twitter and ebay. federal reserve policy makers in a two-day meeting. fed watchers are not expecting, as we've been talking about all morning, the central bank to raise interest rates this time around or frankly anytime soon. well, maybe a little soon. couple months out. >>> fda advisory committee voted against center of an experimental treatment for duchene muscular dystrophy that disappointed hundreds of patient advocates who hoped for that medicine. >> it was an emotionally charged day yesterday at this panel hearing of outside advisers to the fda. more than 50 patient advocates testified publicly at the hearing and ultimately the decision at least on the vote was no. they were basically voting on whether the data were there to support approval of this drug. let's look at duchene muscular dystrophy. patients lose the ability to walk by their teens and it