seema, back to you. >> thank you so much.l. >>> let's take a look at other top stories at this hour. apple holding its worldwide developers conference in san francisco with ceo tim cook giving the keynote at 1:00 p.m. eastern. analysts expecting a matchup dates to maps and siri and split screen viewing for apps. by the way they need to do that surface tablet microsoft also displays that function. now, the company is expected to unveil its new music and internet radio service but no new tv products. the question is where would whatever product it unveils will be enough for users to field the need to deactivate their ats on spotify and pandora to make the switch to apple? >> i think they're right on time to do these things. if it's nicely integrated they're expecting that on ios as well. clearly, they've decided to delay on the announcements around the television product because they're not ready to go with that. one can only assume they've got the streaming music service to a point where they think it's going to be a beater. >

i'm seema mody. >> and i'm wilfred frost.eadlines. >>> a relief rally under way as optimism builds for a last-had minute greek debt deal as we speak but the e.u president says there's no certainty on agreement will be struck today after talks with the agreement prime minister. >>> apple is won over by the power of taylor swift. the tech giant changes its tune on royalties for its new streaming service. >>> health care giants scramble to find the right dose of m & a. cigna rejects a take over from anthem, as they make aed by for hunan ma. >>> and a thrilled finale on the green as jordan spieth clinched the victory on the final hole putting him halfway to winning all four majors this year. >>> now, despite stocks ending lower on friday it was the second consecutive week of gains for the dow and s&p. keep an eye on the nasdaq it was the big performer gaining 1.3%. with the comments coming from the fed and janet yellen. here in europe we're really in a rally mode. you haven't seen an uprise for quite some time. i would say back t

i'm seema mody. >> i'm wilfred frost. here are your headlines from around the world. >> the german ten year yield hits 1%. it's unlikely the fed will hike rates this year. >> a round of downgrades for china. the country's central bank blows gdp and inflation expectations but stocks rally as investors bet on further easing. >> jack ma regrets taking alibaba public. the founder also insisting his firm is no threat to amazon and ebay. >> netflix streams ahead. the stock hits a record high as shareholders approve a massive increase in shares paving the way for a stock split. >> and welcome everyone to the show. the focus really today i would say would be the bond market. not the equity market. now the german ten year bund at 1%. bigger picture here not that big of a move but the question is what does this mean for stocks and currencies going forward already in the u.s. with the u.s. ten year treasury yielding 2.4%. we have been seeing dividend paying stocks losing strength over the past couple of weeks. in fact the utilities

seema is live in monaco.r now. >> as you and i know india was one of the favorite emerging markets in 2014. one of the leaders in the pharmaceutical space. thank you for joining us. >> pleasure. >> help us understand what you're seeing a clear indication that everybody at the moment is clearly disappointed. >> you are one of the leaders in making vaccines. talk to us about what you're seeing in the health care industry. >> health care industry needs a lot of support. it's almost like a neglected sector. not dependent on the indian health care sector at all. 85% is 140 countries worldwide and that's our strength. >> and growth going forward? are you going to continue to expand internationally? >> yes, a lot. much more as i said much more than in india because they're all attracted to the low cost high volatility that we're making good for the underprivileged of all of these countries and that's our strength and that's what they're looking for to expand more vaccines which have not been covered just now. >> tha

i'm seema mody. the leaders of greece france and germany vow to intensify negotiations but berlin gives no indication that it's ready to soften it's stance. >> we need a new force. china's premiere calls from action from beijing to counter a slow down in the country's economy following another bout of disappointing data. >> the new zealand and south korean central banks cut rates. the bok also citing the impact of the mers virus. shares in rbs moving higher after the government says it will off load it's stake in the bank. royal mail in the red after it sold at a discount. >>> and welcome everyone to the show. we just got out the most recent iea oil report. global oil supplies falling to 96 million barrels a day on lower nonopec output. short-term imbalances appear to be supporting oil prices. three factors have been lifting oil demand growth in the first half of 2015. those would be the global economic recovery. lower oil price and cooler that winter weather conditions and many large consuming count

seema. >> hey carolyn.'s always good to get perspective from various tech leaders on the trends that we're seeing in the technology space. ken goldman himself talked about in the digital space sports being a big opportunity but we also wanted to talk about what's happening in silicon valley. the ultra sized space trags in the market also record high territory in the nasdaq. if that indicates irrational exuberance, some might be concerned but ken goldman season concerned. >> someone told me they look at some of the late rounds where the enterprise values are great and it's an interesting perspective that how real and some of the private valuation. the public market is reasonably thoughtful. not like the 2000 period where it was almost 100. in the private area there's a lot of nothing could go wrong perspective in some of these from time to time. the private valuations are higher than i have seen. there's a change that's going on. a few years ago what people saw in the private is this second market phenomenon

. >> thank you so much seema.ber of things will be questioned be it greece, be it the inflation stats. i want to pick up on the market moves. i would argue that perhaps the bond moves we're seeing about the inflationary trade but we also saw a back up in u.s. yields on monday and tuesday as well. it's following the u.s. in that sense and the dollar index weaker yesterday too so that's supportive of a euro higher move. but let's pick up on the inflation point and germany in particular i think. >> coming back to the point what can we expect from that meeting, we get an update on projections about inflation and gdp growth and i think people will look at that very carefully because it might actually mean that we have an early indication of how long it will last and if there's any, only the slightest indication that it might actually end before that date you might see severe movement in the euro dollar rate again but as i said before the likelihood is not very big here. >> absolutely. they have been keen to say we're h

i'm seema mody. >> i'm wilfred frost.eadlines from around the world. >> euro zone inflation data due any minute now. and the sense of urgency over a deal with greece is heightened as they hold an emergency meeting. >> bond yields march higher across the board with a strong surge in auto sales expected to add to the bag of positive u.s. data. coming up we hear from president obama's chief economic advisor on whether the momentum will be maintained. >> takata will make one type of air bag. >> not ready for primetime. apple's prescription tv service is delayed while it wraps up licensing deals but the rival to spotify is on track. >> and we've got some european inflation data that is just breaking. may inflation was estimated at 0.3% year on year. the consensus was 0.2% where as april reading was 0.0%. that's slightly better than estimated 0.3% year on year. let's have a little bit of a look for more of this data. we have also gotten ppi data. we have jurors owe zone april's prices looking at minus 0.1% month on month. minus

hey, phil. >> hi seema.cruze being unveiled last night but for a lot of people, many of the journalists that were there, the question that they wanted answered is one that they left the event without many answers to because mary bara was not going to talk about suggestions that have been put aboard general motors and fiat chrysler looked into a possible merger. she repeatedly said i'm not going to comment on that. i've said everything i have to say regarding that. general motors feels it's on the right path. last night was all about the cruze and while the car was being unveiled and general motors may have wanted it to be strictly about the new chevy cruze the truth of the matter is for many investors and many following the auto industry the topic that they're most interested in right now is whether or not fiat chrysler can push general motors into some type of a discussion about merging the two companies. sergio was in italy yesterday. he didn't make many come men which is many people expected him to make r

i'm seema mody. >> and i'm wilfred frost.e your headlines around the world. >>> europe's stocks followed into the red as prime minister tsipras tells creditors to get realistic. german lawmakers say a deal won't happen at any price. >>> saks fifth avenue is an important parent as hudson bay so gohs shopping in germany for nearly $3 billion. >>> politics in focus. former governor jeb bush formally prepares to announce his bid for the white house, a day after hillary clinton ramps up her campaign. >>> welcome sthot. we've got this to you. reahead, we speak to the kraef of the saudi stock exchange. >>> and jack dorsey not the right man to lead the social network. >>> and hollywood rolls back into life as "jurassic world" ratchets up a global weekend. we're on the hunt for the next big movie. >>> welcome, everyone to the show. let's take a look at how u.s. markets closed on friday. and given the economic data we've been getting over the past couple of days investors are trying to understand what to expect from federal reserve cha

and i want to bring in civil rights attorney and former prosecutor, seema, talk to me about what this. >> it's a civil rights criminal investigation which will run parallel to the state criminal investigation. and as you know hate crime on a federal level is very hard to prove. however, in this case, it's pretty much a slam dunk because it happened in a church. it happened in a black church and with a hate crime, whether it's state or whether it's federal, it's not only that the defendant targeted a group of people or a person based on their race and/or religion et cetera, but also that that group felt victimized because of their race and/or religion. so it seems that both of these investigations will run together and they both will be successful. >> yeah talk to me about what is it that legally a hate crime means and how is that any different from any other crime, legally? >> excellent question. the first hurdle is what is the crime, whether it's an assault. in this case it's murder. and there are other various crimes in this particular case in terms of criminal possession of a weapo

very methodically. >> seema iyer thank you. be sure to catch seema's show 11:00 a.m.g a procedural vote to decide the fate of a house bill that would end the bulk data collection. we'll bring you the results as soon as they happen. >>> up next a trip to a wildlife park in south africa turns deadly for a young american tourist. the latest details ahead on "the rundown". >> they were driving through one of the camps and a female lion approached the car from the left. the lion then sort of lunged at the car and bit the lady through the window. [whirring drones] just stay calm and move as quietly as possible. ♪ [whirring drones] ♪ no sudden movements. ♪ [screaming panic] ♪ [whirring drones] google search: bodega beach house. ♪ ♪ [drones crashing] ♪ when broker chris hill stays at laquinta and fires up free wi-fi, with a network that's now up to 5 times faster than before you know what he can do? let's see if he's ready. he can swim with the sharks! book your next stay at lq.com! your pet... could you love him any more? probably not. but now you can give them even more whe

i'm wilfred frost. >> i'm seema mody. next up is squawk box.day. >> will fed chair janet yellen just say have a great summer? don't worry about a thing? i'll see you in september. and starbucks making a big change saying so long so it's chain of pastry shops. the details straight ahead. and the golden state warriors are champs. wednesday june 17th 2015 and squawk box begins right now. ♪ >> good morning everyone. welcome to squawk box here on cnbc. i'm becky quick with joe kernen and andrew ross sorkin. donald trump announcing his run for the white house. he has already upset neil young. another gop candidate and more controversy. i don't think we have permission to play it this morning either. let's get to our top story today. the countdown to the fed decision is on. at 2:00 p.m. eastern time the fed is widely expected to have no change in interest rates but i hike could happen before the year is out. the consensus of our cnbc fed survey is for a september rate hike. this is also a fed news conference da

hi catherine. >> hey seema. how are you doing? this could be a key decision for the potential development in the u.k. and that's something that the government made a turn toward being much more in favor of. you have figures suggesting this could lead to 64,000 new jobs being created and of course potentially more energy independence for the u.k. but on the other hand you have a lot of protests from locals and also national and international groups who are really sort of worried about the potential environmental effects of this which have been highlighted by the tremors a few years ago. >> very interesting story. love to see how they compete with the u.s. >> it could be a mover over here. >> yeah. absolutely. thank you so much. now i want to draw your attention to one of the top movers in europe and that's german utilities. this amid reports that angela merkel's government will scrap a tax hike on power plants. the capacity of larger plants like those owned by the utility company will be transferred into a reserve facility and the

. >> i'm seema mody. here are your headlines from around the world. >> european equityies extend the rally. the ecb meanwhile maintains support for athens by raising the emergency funding to greek banks for the second day in a row. >> but stark divisions remain between athens and it's creditors. german chancellor angela merkel warns they'll have to accept the terms of the bailout. >> translator: there's a lot of work that needs to be done and we're running out of time and therefore we have to concentrate on this worth. >> out of recession. france's manufacturing activity expands for the first time since april while germany shows recovery. >> another volatile day for chinese equities with a linger contraction for manufacturing despite a small up tick in activity but the main markets recover some of friday's sell off. >> joining us now is chris williamson. we have got come points highercomposite coming in at 54.1. the services pmi at 54.4 against expectation of 52.2. nice beat there for the numbers. growing

they rose to their highest level in more than 7 years in april and seema i do wonder to what extent theried about the bond volatility and outflows from emerging markets. we saw the biggest emerging market outflows in seven years. it said we are the central bank of the usa and not the central bank of the world but it has to feature in their analysis. >> the central bankers at the end of the day responsibility for the volatility in the bond market is something that mario draghi addressed during the latest meeting and then the tamper tantrum in some ways in effect right now, something similar to what we saw in 2013 taking money out of the rising markets but if question is if you are bullish on the emerging market story how do you get exposure to specific markets? you just have to stomach it. >> i agree the market tends to react for fear if it's going to be like may 2013. in terms of when we're likely to see a rate rise i air on the side that we'll get sooner than expected than what people are thinking about t. interview he did last week is that i think yellen although they don't want to do

. >> seema, another developing case in new york, federal prosecutors have charged one current and oneath of an inmate at rikers island. new york city settled a lawsuit last year stemming from the death. you're a former prosecutor in new york. what's going to happen here? >> oh god, jose i'm also a defense attorney and most of my clients are at rikers island. right now at this point, the investigation continues but there are criminal charges. and they're facing serious amounts of time. the family of ronald spears has already received a settlement civilly. but this criminal case is clearly going forward and hopefully it will also just aid the effort by mayor de blasio to implement changes in rikers island. >> seema, thank you, good to see you. >> thank you. >> be sure to catch seema's show on msnbc.com's "shift" at 11:00 a.m. eastern every tuesday. >>> developing now in vermont, we're about to hear from vermont governor pete shumlin about ongoing efforts to ramp up security in the information that the inmates may have planned to go to his state. the governor expected to speak any minute

. >> even seema mody would be a good choice. a great choice. we should point out that, in fact in the statement it has to be someone that's already passed. some of these people are ruled out but it's fun to have enjoyable light hearted suggestions. get in touch with us worldwide@cnbc.com or cnbcwex. harriet tubman is the favorite at the moment. a very worthy candidate. >> absolutely. >> legislators in hong kong reject reform bill. i'm sure a number of our viewers aren't following this in full. give us background on this. >> basically it's been in the works for some time and the chinese offered a bit of caret and bait and trying to get democracy in the territory. they were offering every registered voter the right to cast a ballot but the candidates on the final ballot would have to be prescreened by a little over a thousand people on a selection committee and that's what sparked the occupied protest last year in the objections to a preordainment of what appeared on the ballot. now today only 8 balancelot were cast in favor of the reform bill. t

and seema and i's handles are on the screen as well. >> you won't believe who has come out on twit toree should be in contention for the top job. snoop dogg. head to our website to get the full story on that. >> maybe that's a good option. who knows. facebook shareholders shot down a proposal to give each investor one vote per share. it was brought up at the annual meeting on thursday and called for changes to facebook's voting structure. ordinary investors hold class a shares. class b shares carry ten votes each. they hold about 70% of the power. mark zuckerberg controlling about 55%. stock is down about .2% in frankfurt but this year up about 10.7%. >> changing tides, the u.s. knocks saudi off the top spot as global leading oil producer. what does it mean for crude prices? stay tuned. we'll discuss after the break. . >> twitter shares take flight after dick costolo quits. angela merkel says a strong currency is a problem and u.s. futures indicate a lower open as greek debt negotiations stall. >> let's get straight to what angela merkel is saying at the moment. as i just mentioned a st

. >> seema, thank you for being with me. be sure to catch seema's show "the docket" at 11:00 a.m.we mark three years since doca was put in place. we'll be back with that and a whole lot more. song: rachel platten "fight song" ♪ two million, four hundred thirty-four thousand three hundred eleven people in this city. and only one me. ♪ i'll take those odds. ♪ be unstoppable. the all-new 2015 ford edge. ♪ building aircraft, the likes of which the world has never seen. this is what we do. ♪ that's the value of performance. northrop grumman. >>> and now to more developing news on the immigration front, the president's first immigration executive order deferred action for child arrivaled known as doca was first put into action three years ago. hillary clinton put immigration front and center at her official launch over the weekend. joining me now, immigration attorney and dreamer astrid sillo. you were in hillary clinton's first event in may when she went further than the president had. we saw a dreamer inducer on saturday. she said she would be willing to expand on president obama's ex

i'm seema mody. >> i'm wilfred frost. let's get you headlines. >> greece's surprise call sends shockwaves through global equity markets. the dow is called to open lower in triple digits. >> but policy makers insist the bailout deal is still possible. this as the imf still wants to be paid. >> i hope that payment is made on tuesday and if that was not the case i would call the board very promptly. >> in asia the shanghai composite enters bear market territory after a volatile session despite delivering a double rate cut in a bid to boost growth. >> a set back for space x. a rocket explodes minutes after take off. >> coming up on the show all eyes on greece but find out which other island is struggling to pay back it's debt ahead of tuesday. >> it's the end of the line for the convict that escaped from a new york jail. coming up all the details on how he was taken into custody and pride in tech. a record numbers margin san francisco's gay pride parade following the supreme court decision including a leading member of the te

. >> i'm seema mody. here's your headlines from around the world. >> hsbc pulls out of key emerging markets and takes an ax to its work force as an aggressive turn around plan. >> european stocks fall. this as former fed president tells cnbc the central bank shouldn't wait too long before hiking rates. >> it would be better for us to start sooner i think and give us a better chance at being able to do it gradually because if the market gets ahead and the economy gets ahead of us they're going to have to chase rates up and that would not be a good situation. >> chinese indices in the red after inflation slips for the 38th straight month. investors also awaiting a decision over whether to include mainland shares in it's emerging market index. >> greece continues to weigh on global sentiments. we'll hear from the world bank president that says a deal must be made with with athens soon to avoid contagion. >> let's bring you flashes from is hsbc ceo. latest flash is he says that 8,000 staffs will take place in

seema i suppose this is another big valuation for a tech. relatively early stage tech company. is this one justified? they are at least making profit already. >> i think the price action in shares of fitbit suggest that investors see values in this company despite the big competition in the wearable market which is apple and samsung. interestingly enough when the ceo spoke to cnbc they say this is no longer a one trick pony. this is an ecosystem that they're trying to create in the market. maybe there is value there. $6 billion valuation for fitbit which makes it more expensive than go pro. >> a lot would say fitbit is just a toy right now because what it does it monitors your heart beat or health but it doesn't tell you what to do with that heart beat. whether you need to you know run faster run slower doesn't tell you how to improve your health. >> probably always run faster. so it's a nice little gimmick but what else are you going to do with it? the apple watch alone has more functions than fitbit now. >> but it's expensive and also bulkier. if you want a nice sleek band th

seema mody is loev inive in london. >> the story continues, this time around it is a lack of productive talks between greek leaders and its creditors. that's pushing some investors that i speak to here in london to speculate as to whether greece is in fact on the brink of failure. the meeting on sunday -- get this -- only took place by around 45 minutes. and no agreement was reached. now it is this lack of negotiations, the lack of deadline that's being reached that's pushing some investors to pull out of european ecquits. in fact banks the worse o'performing sectors. germany's eu commissioner today saying greece could face a state of emergency on july 1st if a deal has not been reached between creditors. mario draghi whether he speaks the market listens. the ecb president says we need a strong and comprehensive agreement with greece and we need this very soon highlighting the urgency in finding a solution. in the meantime greece is seen as a reason to sell stocks and bonds. i want to draw your attention to the prif cal debt market. we are looking at spanish and italian yields rising on