along with seema mody.appening now, the world's most powerful finance officials are in italy for the g-7 meeting. yla nsh yla nshn mui has more. >> the meeting is underway in an 11th century castle in bari, italy. steve mnuchin joined the conference just about an hour ago. as he walked inside, i asked how he planned to defend the administration's america first trade policies. >> we're excited about u.s. trade policies. i think you saw last night we made an announcement of 100-day economic plan with the chinese. >> he was speaking about an agreement between the u.s. and china that was announced today to increase market access in areas like agricultural products and financial services. now, trade is not officially on the agenda here in bari, but the issue is likely to come up during the one-on-one bilateral meetings between treasury sec d secretary steve mnuchin and other finance ministers. he is scheduled to meet today with japan's aso and germany's wolfgang schauble. i asked schauble what his message might

i'm wilfred frost along with seema mody.es at this hour called higher, 40 points or so for the dow. with us is michelle girard from natwest markets. good morning to you. >> good morning. >> thank you for joining us. how important is it that we round off this week without further declines? >> i tell you, it would be encouraging. what's unsettling is the volatility in the marketplace. then it has a tendency to feed on itself. then everybody brings it back around in terms of does the volatility in the markets turn into something more fundamental in nature? does it undermine confidence. does that feed into economic slowing. it's raised all sorts of questions about what we'll be doing for the fed if we can find our footing, if this ends up to be just sort of short-term volatility, we can quickly stabilize, move forward. >> one eye on washington. the other on wall street. do you think the recent burst of risk aversion, does that negate the bullish narrative that we're seeing play out in earnings season? >> i don't -- in general, i

our politics is going to be poorer for the loss of sergio bendixon. >> john harwood, seema metah, thankou both for joining me. >>> coming up next, no doubt investigators on capitol hill and the fbi will be digging into these published reports about jared kushner. where will these investigations go from here? coming up, i will speak with rhode island congressman david cicilline who sits on both the house and judiciary -- house judiciary and foreign affairs committees. stay tuned. ♪"all you need is love" plays my friends know me so well. they can tell what i'm thinking, just by looking in my eyes. but what they didn't know was that i had dry, itchy eyes. i used artificial tears from the moment i woke up... ...to the moment i went to bed. so i finally decided to show my eyes some love,... ...some eyelove. eyelove means having a chat with your eye doctor about your dry eyes because if you're using artificial tears often and still have symptoms, it could be chronic dry eye. it's all about eyelove, my friends. is to always keep track of your employees.r micromanage them. make sure they're pro

. >> and seema mody in for sara. good morning, will. >> good morning to you. go straight to market action this morning. off the back of a strong finish to a tough week last friday. we saw decent gains on friday that meant the week's performance was respectable. declines but the nasdaq down more than .5%. s&p and dow just down by .75%. for the week as a whole, seven out of 11 were negative led down by financials which turned in the only performance of all of the sectors of more than 12% decline. a this morning, as you can see, we're bouncing back from that decline last week. the dow pulled high just shy of 30 points. let's look at oil prices because they turned in a resounding poll week. up about 5% for the week as a whole. back around $50. and adding gains as you can see, have the 50.8, the fwries ofpri crude. >>> exports in japan rising 7.5% in april from a year ago. below the 7.8% annual growth. exports abroad are being driven by the weakest in the yen that we've seen earlier this year. japan nikkei up almost 0.5%. shanghai, the loser, down .5%. if you take

seema, let me bring you in here. headline was the result of a leaked oval office conversation where the president told the russian foreign minister and ambassador that comey is, quote, a nut job. how embarrassing is this and how is the administration going to deal with what appears to be leaks frankly at a very high level? >> right. there are so many things that came out of that meeting. first of all, it appeared from the president's remarks that he really thought once he got rid of comey the pressure would be off, this would be over. as we've seen since then, the pressure is certainly not off. we have a special counsel that's looking into the matter. beyond that, the optics of the meeting, while you're being investigated for your campaign's ties or your former spokes people or former officials' ties with russia, you are hobnobbing with top russian officials. the russian news media was allowed into that meeting, the measu american media was not allowed into that meeting. then the leaks, the president has tried to mak

thank you, seema. seema mody there.s mentioned, declines of 1 1/2% for the dow, for the s&p 500 which is after closing 2400 for the first time earlier this week is down to 2361. transports on the dow are down about 260 points, and the nasdaq and russell hardest hit here. >> just as, you know, one of the trends we've seen lately is when the market goes either up or down, it comes back to home base by the time we hit the close, right? it kind of regresses to the mean. we're not seeing that right now. one thing we are seeing, look at the vix today. >> i know. >> got attention. >> after all of the hand wringing about how it is so low, today making up for it. >> look at that. up 39% gain now -- it did hit 15 at one point today. it has come back, but it hung around 10 for the longest time. of course, the dollar has been weakening here, back to levels we haven't seen since around the time of the election, right? >> and there's two sides to that coin every time. it is not only what it may be suggesting about what happens with t

. >>> right back to hq with seema mody, who has the european close. hi, seema. >> hello, mike.tocks are on the rise today. the outlier is the ftse 100, helped today by the miners as commodities continue to rise, anglo american, glenn core among the biggest winners. the pound is back up to eight-month highs, recoveryer recovering from what some are calling a mini crash on thursday. most european stocks after jeffries downgraded them from hold to buy partly due to uncertainty in brazil. a name to keep an eye on. greece, the country's parliament, approving new austerity measures and reforms late last night. the package is necessary to unlock billions of euros in aid and pave the way with the deal for greece's creditors. the stock market seeing a one-month gain of over 15% on this debt deal. energy giants have been lining up to invest and build infrastructu infrastructure. taking place this weekend could change that if president rohani isn't re-elected. foreign investment in iran could become much more difficult. sarah, that's why this, of course, is an election we're watching very

seema mody has more on cisco's quarter. >> reporter: cisco, the networking giant, issuing weak guidance for the fourth quarter. revenue has now fallen for a sixth quarter in a row, although earnings did beat street expectations. cisco also extending its restructuring plans, which will impact an additional 1100 jobs. the cuts come on top of the 5100 job cuts announced last august, as cisco tries to stay competitive in the fast moving world of technology and invest in new areas. for "nightly business report," seema mody. >>> amazon shook up the retail industry and has forever changed the way americans shop. and now, according to a cnbc report, the e-commerce giant could potentially shake things up in the multibillion dollar pharmacy industry. shares of potential drugstore rival cvs health and walgreen's down 3% yesterday on that report. christina farr, health and technology reporter for cnbc.com, broke the story and joins us now from san francisco. christina, welcome, congratulations on the scoop. what have you heard about amazon's intentions and why are they considering this now? >> repo

and as seema mody reports, the outcome could ripple through and potentially disrupt the energy and oil market >> reporter: as the iranians head to the polls, the president and his nuclear deal may be in trouble. hassan rouhani, seeking a second term, championed the 2015 nuclear deal with world leaders. the landmark pact removed key economic sanctions on iran in exchange for limiting the country's uranium enrichment program. as a result, iran's oil output is up by a million barrels a day, and international oil producers like bp and shell are looking to build out the country's infrastructure. but this could all change if opposition candidate ebrahim raisi wins. raisi, a conservative muslim cleric, says the nuclear deal has not helped iran's economy. while iran has returned to growth, the country still suffers from stubbornly high unemployment. further complicating matters is president trump's visit to saudi arabia and israel, two countries which view iran as an enemy. hard rhetoric exchange between the leaders could intensify tensions. >> if the reformist candidate wins in iran, the exis

back to you. >> thank you, seema. niles sound bit. 45 minutes to go. dow is down 45 points today. s&p hanging on to a 2 point gain. you can see the divergence there. weighing on the dow are companies like boeing. the nasdaq is higher by 10, russell is up 8. wow, 1400 it is sitting on the small-cap. >> look at that. disney is one of the drags on the dow today after reporting weaker than expected revenue, and the continued concerns about espn as well. coming up we will hear from one top wall street analyst who is still very bullish on disney stock. that's coming up. >> then after the bell, snap posts first earnings since going public. we will hear from 21st century fox and whole foods among others. we will driver the numbers and break it down with analysts as soon as they hit the tape. you're watching cnbc, first in business worldwide. it's great to finally meet you. your parents have been talking about you for years. they're all about me saving for a house, or starting a college fund for my son. actually, i want to kno

seema. >> hi, sarah.stocks mostly in red on this final trading day of the week being dragged down by the banks. the london ftse dragging down to an all-time high. the pound weakens. currency falling to a one-month low against the dollar. here's the reason, with two weeks to go until the uk general election, the latest poll from ugov shows conservatives lead over the labor party has narrowed from nine points to five, that news fueling concerns that prime minister theresa may won't win a large majority as she prepares for the upcoming brexit talks. also want to look at the pound against the euro falling to a two-month low. now as you've been hearing this morning german automakers lower today after a report that president trump complained to eu leaders about germany's trade surplus, especially when it comes to cars. but bmw, diamler and volkswagen currently off the lows of the session. let's end with what we're calling the chart of the week, luxury player ferragamo down 12% on a disappointing outlook. a sign

it's my -- it's my honor to invite up the director of m.s., the administrator, seema verma. >> thank you for what you did today. you know, i have spoken to a lot of moms across the country like me and they are so concerned about the rising cost of health care, paying for expensive premiums and high dedoublesibles, having an insurance card they can't use because it's still unaffordable. and what happened here today is an important step towards addressing that problem. so thank you. and for the medicaid program, i worked in the medicaid program for over 20 years. the medicaid program is our aged, our blind, pregnant moms, kids, disabled and the poor. these are people that have no other place to go but the medicaid program. and the status quo in the medicaid program is not acceptable. we can do better. and the big step that was taken today is a very important stride towards making that program work better, towards giving governors the flexibility to design programs that innovative and actually improve health outcomes. i'm so excited about this big step forward, and i think it's a great

seema: you have seen it happen so far.was 15 years ago, there is no more circuit city, bed bath & beyond is struggling, no linens and things. be on and noble seem to track to stabilize, and then the last two quarters turned down. jonathan: do you worry about devastation? i have never heard a credit guys say that the other guys are smarter. i assume you are joking. you say the one question that matters is whether we get paid back. how many people are going to get paid back? it has ripped through credit as well in terms of retail. there will be situations where we would not touch it. jonathan: give me an example. mark: j.crew. they missed not only the stores versus online but they did not anticipate this fast casual situation where their competitors show up with something that doesn't work and they change it three weeks later and j.crew has 12 months to figure this out, to be able to change what is in their store. they have this fashion dynamic, online. does the world need j.crew? i think it is a great brand, i think i have

. >>> let's get to seema mody with the european market. >> on track to finish relatively flat for theeek, which began with reaction to emmanuel macron's election in france. on that note, y titalian g7 official says the minister's statement will use the same wording on trade, currency and monetary policy used by the g20 in germany. g20 ministers dropped their pledge to keep global trade open, failing to convince a trump administration to endorse a multilateral approach to trade. news regarding the planned g7 statement out of italy, sending the euro to session highs, 109 against the greenback. on the m & a front, vivendi proposing to buy havas. such a purchase would be 30% of the stake. another winner, astrazeneca up sharply after announcing its immunotherapy drug was shown to reduce the risk of death from lung cancer. steel maker arcelormittal, and richemont acres weaker than expected profit as both are being impacted by china in different ways. mike, back to you. >> seema mody, thank you very much. >>> retailers, those stocks getting wrecked again as macy's, nordstrom and jcpenney rep

let's get to seema mody. >> that's right. take a look at the picture behind me.kets making historic moves in europe with the german dax and london ftse hitting all-time highs. take a look at the minors getting a lift after xi jingping over the weekend there will be more than $100 billion in financing to support china's infrastructure mother -- agreed to back that extension of a production cut into the first quarter of 2018. all seeing gains of 1% or so. later today in berlin, german chancell chancellor. macron's selection offers the opportunity to bring dinetism to the development. the meeting comes one day after the party -- that regional election victories in germany won't necessarily translate into merkel winning a fourth term in the fall. so stay tuned. >> yeah. more european elections to put on the calendar. thank you. >>> coming up, shares of trivago taking off. we'll talk to the company's ceo. but first rick santelli, what are you watching today? >> you know, i'm watching how the markets continue to deal with ongoing crisis issues. i had bill isaacs on, fo

. >> 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

. >>> let's get to seema modi. >> stocks hovering around the 21-month highs on a day when data shows french industrial production rising by a better than expected 2% in march so that european economic story continues to get stronger. in the meantime, mario draghi defending the central bank's monetary policy during a session with members of the dutch parliament who along with germany have been critics of q.e. draghi telling them the european economy is increasingly solid and too soon to scale back stimulus. he hinted the ecb will change its message as tale risks of falling inflation recede. in the netherlands, the dutch court has set may 22nd as a date to hear elliot management complaints against akzo looking to oust the chairman among the shareholders dissatisfied with their rejection of takeover. shares down 1.5 of akzo noble. img hosting a better than expected first quarter profit helped by growth in core lending and new customer deposits. also, take a look at french insurer, axza, announcing plans to take the u.s. arm public, ipo, with billions to be used for investment in higher

seema mentioned three tooerms names, pete najerian mentioned it the other day, go, col game. good job by you, mel. >> whirlpool. >> there's a lot after chatter about acheovtakeover speculatio colgate i think actually said they've put themselves up for seam for $100 per share. they sold off today. i think if you want data play colgate will do. >> azul just went public recently. it was down 20%. is that justified if you think that -- there it is down 19%? >> i think first of all they're going after weaker hands. this is not a terribly weaker name. located, the mcdonald's franchise of brazil, it has been a star, a pulp and paper company. >> besides brazil, break down the next step you should still stick with emerging markets, the ceo of morgan creek capital managements joins us now. why, why shouldn't we believe that there are other shoes to drop in brazil and could drag this trade in even emerging markets overall lower? >> well, i think there is definitely going to be other shoes to drop in brazil. this is not, this story is not over by a long measure. i mean, there is a number

back over to you. >> thank you very much, seema mody.le as you know by now reporting that second quarter revenue beat and it fell short as iphone missed expectation. walt mossberg joins us this morning. nice to check in with you on a quarter as important as this one. i think you told us last week that samsung's quality problems had basically bought apple a year. here we are again talking about this sort of lull in innovation and waiting for the next big thing and apparently now that's weighing on sales of the 7. >> you know, when i said it bought apple a year, what i meant was that apple made a controversial decision a year ago to take two years to do the next big, big rev of the iphone. they did bring out iphone 7. i think tim cook said on the call yesterday that the bigger version of the 7 was still selling well. you know, it looks a lot like its predecessor so the next big deal, big redesigned iphone was on a much longer cycle than usual. i think what you see in the sales thing wasn't that huge a miss. it's just people are -- why woul

back over to you. >> seema, thank you very much.g day in europe, not yet translating on this side, we'll see how it goes in the afternoon. still to come, how alphabet is doubling down on original content. signing pretty high profile stars in the process. but, first, rick santelli, what are you watching this morning? >> well, it has been a big week. we had a fed meeting, we had a big jobs report. we're going to discuss all this with the man, ed lazear after the break. at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. >>> good morning, everybody. i'm sue herera. here is your cnbc news update at this hour. north korea accusing the u.s. and south korean spy agencies of an unsuccessful assassination attempt on leader kim jong-un, involving biochemical weapons. in a statement on state media, north korea said it will ferret out and mercilessly destroy the terrorists and the cia and in sou

seema, the president fired off several tweets yesterday.here was one that threatened james comey indicating he should be careful what he's saying, there could be tapes of our conversations. what are you hearing? >> that tweet really caught people by surprise. >> that was the one. >> it really was. when you talk about recordings, about tapes, your mind goes to a certain period in our history. people wonder if he's recording world leaders, meetings that are taking place in the oval office and there is a history of him -- people believe when he was in business in new york that he recorded meetings during the campaign there were rumors he was recording even his own staff, so it does raise questions and people have said basically since watergate presidents have made a point of not recording things because that can be subpoenaed. >> exactly. and you wonder why he would bring that up to even question it and have people look for that were it to be the case. jonathan, the president signed that executive order thursday that created a commission aimed

our correspondent seema kotecha has been hearing from one young fan. yeah, logic is flawless.on. the 23—year—old rose to fame after starring in a tv series on nickelodeon called victorious. she then turned to music and topped the charts with her songs. on social media, she is one of only six people in the world who have more than 100 million followers on instagram. on snapchat, she's one of the most viewed. and her trademark bunny ears popular with millions. she's the best thing ever. she's nice and she's kind, and she's really pretty. she is just amazing. nine—year—old summer describes herself as the pop star's number one fan. she went to the concert last night after getting a ticket for christmas. if i saw ariana grande, just that right there, i would cry! with joy. and i would hug her, and i'd do anything to meet ariana grande. tens of thousands of fans packed manchester arena to see ariana grande. many of them were children. the singer responded to the attack on twitter by saying... other celebrities with young fans have taken to social media to pay tribute to those who di

[applause] to invite upnor the director of cms, the administrator, seema verma. [applause] you.ll, thank and congratulations to the president, the vice president, the speaker and all the republican leadership and all the republicans in the house. for what you did today. you know, i've spoken to a lot country, like the me. and they are so concerned about the rising cost of health care. expensive premiums and high deductibles. having an insurance card that because it'se still unaffordable. and what happened here today was an important step towards addressing that problem. so thank you. program,he medicaid i've worked in the medicaid program for over 20 years. is ouricaid program pregnant moms,, kids, disabled and the poor. these are people that have no place to go but the medicaid program. quo in thetus medicaid program is not acceptable. we can do better. was takeng step that today is a very important stride that program work better, towards giving governors the flexibility to design programs that are innovative and actually improve health outcomes. about this big

seema: there was the easter shift, so that pushed some spending into april versus march.e big guys last week and those were very weak. i do not know what would drive it going forward, what's going to drive this shift. it calls into question what many of the legacy retailers are doing. all their initiatives may not be bearing any fruit. --re may be a relative relevancy question for these retailers. alix: fortunes as an example. -- nordstrom's is an example. and theywants online do well, but they don't get compensated for it. seema: with a big part of your business is going down in the small part of your business is growing larger, it's not enough. people were expecting more from nordstrom. nordstrom is supposed to be the best in class department store and it just kind of showed like everybody else. david: how much of this is simply losing pricing power? isn't amazon a factor in that? you can get price discovery in ways you've never could before/ . shelly: pricing is a huge part of it. the pricing of apparel sales have gone down and down every single year. closing prices ar

governor herbert out of utah who told us the story of having to petition c.m.s., the old c.m.s., not seema and tom c.m.s., but to use a technology to communicate with his medicaid recipients who had that same technology. you and i would know that as email. nine months later, the government here in washington denied his request to communicate with people that had email by email. they told him no. i asked the governor of utah, how much would that save your state? $9 million. do you want to spend it in snail mail, postage or health are? why do you need to go to washington, d.c. to get that kind of permission to begin with? what this legislation does is open up the states with the ability to innovate, make a real difference for the people of utah or the people of oregon or the people of florida. we can get this right. it is our duty. it is our obligation. this is the first step. i look forward to the partnership with the senate in continuing one with the white house until we get this signed into law. thank you. [applause] mr. walden: now it's my great pleasure to introduce the chairwoman of th

seema mody. ready for the holiday weekend, price line ex proceed ya trip adviser a check out of this ten-year chart of price line, that stock is up nearly 3,000% in that time frame. here on set is jaywalker. s no to have you here. >> mice to be here on friday. >> the stocks have seem to have done quite well. they ship the balance of the produce to consumer in the way of the airline. the price for an average tick on an airline hasn't gone up? >> it has but probably not from the alicleisure travel. domestically airlines are making record profits, in fact if the last few years more profits they've ever made. t got to be coming from somewhere melissa and it's probably not coming from the ground. >> your latest venture, you started up side and that has started at that business travel who want to reduce cost. why does a business traveller or small business need a separate site as oppose to going to price line or ex proceed ya? >> they don't have time to search for thousands of different choices, plus t

let's get back to seema mody. >> it's their fourth consecutive decline. really at the heart of it is between united states and germany. trump's tweet this morning highlighting the massive trade debt with jaefrmt it comes as they host a national summit in china where they'll they to showcase their potential bond. something to keep an eye on. in the meantime, the election risk back on the table, this after the former prime minister says italian elections should be moved up to september 2017. it's the same time as germany. now supporting a switch back to a proportion at electoral risk. meantime take a look at those italian banks under pressure yet. you need credit down 1%. and ub bank almost down 1%. >> the european central bank and policy makers will need to move that. this came after draghi gave the comments on stimulus. right now we're looking at the here ol'. one big stock to wachlt dave. a computer glitch stranded passengers on both sides for a few days. back to you. >> we're going to bounce it back to hq and get a news update from sue herera. >> thank

. >> thank you, seema mody, one of our traders say there could be a risk.k. >> listen, bitcoin has had a tremendous run. i have been in here, unbelievable run. my target based on the underlying fundamental also was 2500. we are there right now so what are the risks to look for? either if you are long or waiting for a pullback. three risks to the rally. number one, if you see transactions bargains fall, that's a problem for bitcoin the entire process is a net effect. >> that could mean a lower price for bitcoin. number two, competition from other digital currency. there is more than one bitcoin. all of those, those two do something different than bitcoin and number three, we agreed, the community afreed this week for an upgrade, but the network is so clogged that it needs a software upgrade. they agreed this week, just, yesterday so if that upgrade fails or there is some disagreement in that. then that would be a big problem for bitcoin. watch those three things. we're in a bubble. not quite a bubble. there is a long what i to go. for now, be careful. >> it'

while you look at the situation of china and the islands in the fighters seema, to exist. whether they are just in training or they are formerly -- formally deployed for military purposes, but military aircraft exists there, that is a fact and aerefore as time passes, strategic balance seems to weigh more heavily and more advantageously to china. this is not -- >> on stage year and in the front row, we have the best and brightest of japan's national security thinkers. the reality is, we can probably get many more members to fill the rose who would agree with what you are saying -- the ws with people who would agree with what you are saying. wrong,can tell me i'm but i would argue that on -- among american allies, treaty allies, there is more consensus on strategy and japan than there is, anywhere. that is quite impressive. time, the national security legislation was a hard legislative fight. what almost happened was the japanese opposed it. some people put out opinion polls that show if japan were attacked, only 12% of the japanese would join the defense forces to fight, a

seema. >> my melissa. the rally exceeding over jaes.t 1% and higher for 4% for the month of may. the outperformance in commodities is helping the emerging market index move higher today. strategist pointing to a weaker dollar. this follows a lot of bullish calls on wall street. brian. >> all right seema thank you very much. >>> also want to kaungs to serious holing, s hld, it is down nearly 10%. here's the story, serioes use t run the craft man van. it started off with one world. the man -- one world is trying to get out of or reduce the number in power tools and craft man's tools that they have to sell to sears, and lamb port is saying we're going to enforce the contract otherwise the flow of tool will get cut off. >> it almost is sears to me. >> what other product gets you to go into the store other than craftsman? >> if it is craftsman it's trying to get out or renegotiate -- >> which could be a higher cost correct -- >> or no ship. this is a huge battle to watch for sears whether they're going to fill their shelves with the tough ty

let's get to seema mody with the close. >> good morning. a mixed start for the week for european stocks. oil majors remain a bright spot on the anticipation opec will agree to an even larger production cut in vienna. that meeting comes up on thursday. meantime, currencies continue to be a hot topic after the dollar witnessed its worst week of the year. last week the euro climbing above 112. hours ago, angela merkel calling the euro zone currency too weak, saying it's one of the catalysts behind germany's ballooning trade surplus. the euro holding on to 1.12 against the dollar. dutch insuror ajon up sharply on news it will sell its two largest u.s. life insurance businesses. clarion also rising, the specialty chemicals provider agreeing to merge with huntsman of the zushgs creau.s., creatin worth about $14 billion. but take a look, ucb is getting hammered. the company is partnered with amgen on a drug both companies don't believe will win approval this year after a trial which showed a higher rate of heart problems. shares down 18%. lastly,

seema mody is here with the details. >> reporter: chrysler down about 4% in an extended trade that the.s. government is readying a lawsuit over fiat chrysler's diesel emissions. keep if mind there has been an ongoing concern. in fact, in january, 2017 the e previously accused fiat of using soft what irware to alter emiss. they tend to work with the incoming administration to resolve this matter fairly. again the stock down as much as 4.8%. mellissa. >> thank you very much. i believe that we got headlines a couple days ago saying there was going to be possibly an investigation in europe. we saw the markets react at the time for that. you know, we have these headlines. i feel that stocks usually will recover after that. >> this stock has been very, very offensive within an auto sector under fire, 1050 on this thin sheet, trading up there. i think it's a thin sheet. anyway, it's at a key level. i don't think you need to get in the way of this. i'd get out of the way. >> let's see, if it holds 950. maybe. look at the environment are you in with what's going on before, what is going on with

our correspondent, seema kotecha, has been hearing from one young fan. yeah, logic is flawless.ed victorious. she then turned to music and topped the charts with her songs. on social media, she is one of only six people in the world who have more than 100 million followers on instagram. on snapchat, she's one of the most viewed. and her trademark bunny ears are popular with millions. she's the best thing ever. she's nice and she's kind, and she's really pretty. she's just amazing. nine—year—old summer describes herself as the pop star's number one fan. she went to the concert last night after getting a ticket for christmas. if i saw ariana grande, just sat right there, i would cry! with joy. and i would hug her, and i'd do anything to meet ariana grande. tens of thousands of fans packed manchester arena to see ariana grande. many of them were children. the singer responded to the attack on twitter by saying... other celebrities with young fans have taken to social media to pay tribute to those who died, and to express their shock. i think that the greatest thing we can do isjust

seema verma, i was standing next to her. >> out of a group of dozens and dozens of people, you can citetwo or three -- two or three women? >> these are prominent individuals who are leading, who are leading in this area of health care. >> health and human services secretary tom price defending that celebratory elto aup at the rose garden that highlighted the lack of diversity among house members who helped pass the bill. this on top of the fact mitch mcconnell appointed 13 men to rewrite the bill, including none of the women senators. joining me is anne gearan and ruth marcus, editor and columnist. route, first to you. diversity on issues such as women's health is important because men would not be able to assess as well as women, arguably, the facts, the importance of some of these health issues. >> well, you know, i think that the importance of diversity is kind of acknowledged by secretary price's response to you. it's not that he's saying it doesn't matter, men can understand women's issues or be as attentive to women's issues as well as women, so don't worry your pretty little head

seema mody has the details in the newsroom. >> reporter: president donald trump informing fbi director steve comey he has been terminated and removed from office. he acted based on the clear recommendations of the deputy attorney general and attorney general jeff sessions, this press release says the fbi is one of our nation's most cherished and respected institutions and today we gin our crown jewel of law enforcement, that's president trump, a search for a new permanent fbi director will gin immediately. the headline here, james comey is out. back to you. >> all right, thank you very much. >>> this has happened one other time in history, william sexes who had been the fbi director was appointed by ronald reagan but was fired by president bill clinton in 1993. it has happened before t. news reported by nbc news, president trump removed fbi director james comey. maybe it was not a surprise after the testimony. i don't know, how do you take that? >> well, it's not a surprise that there has certainly been disagreement that people have challenged both the authority of the office and wheth

casualties taken to hospital following the attack, 12 were under the age of 16. 0ur correspondent, seema after starring in a tv series on nickelodeon called victorious. she then turned to music and topped the charts with her songs. 0n social media, she is one of only six people in the world who have more than 100 million followers on instagram. 0n snapchat, she's one of the most viewed. and her trademark bunny ears popular with millions. she's the best thing ever. she's nice and she's kind, and she's really pretty. she is just amazing. nine—year—old summer describes herself as the pop star's number one fan. she went to the concert last night after getting a ticket for christmas. if i saw ariana grande, just that right there, i would cry! with joy. and i would hug her, and i'd do anything to meet ariana grande. tens of thousands of fans packed manchester arena to see ariana grande. many of them were children. the singer responded to the attack on twitter by saying... other celebrities with young fans have taken to social media to pay tribute to those who died, and to express their shock.

. >> seema, thank you for that. let's get to sue herera for a news update. >> here's the news update at this hour, everyone. secretary of state rex tillerson and japan's foreign minister spoke by phone this morning in the wake of north korea's latest missile launch. both men agreed to exert more pressure on pyongyang arguing action is needed, not just dialogue. >>> syria's opposition says a number of rockets struck an opposition-controlled suburb of damascus, killing at least six people. they blame pro-government forces for that attack. rescue workers helping to evacuate people from a building that appeared to be damaged by that attack. >>> palestinian president mahmoud abbas meeting with the indian prime minister modi in new delhi. abbas is on a four-day visit to india to boost bilateral ties with the country. several deals were signed in the field of health, technology and agriculture. >>> back here at home, high winds and dry soil created quite a dust storm in parts of north-central iowa last night. it lasted for

neil: well-put, seema verma,cms administrator. to her point, both parties are playing this game. be presented when they want to do budget cuts. first get cuts out of your language. no such thing as cuts. we're talking about paring the rate of growth. even in they leave medicare alone, social security i alone, a lot getting both, you don't want to hear trimmingç growth. doing retire very soon you don't want to hear about any of that at all. that is well-understood. they talked about a method for those 10 years out for retirement trimming that a little bit. that is deemed to be draconian cut, when we play the games, both parties do it, my friends, we'll never solve it. we're keeping 2/3 off budget, off cuts, off doing anything responsible. that will blow up on us. you don't have to be a math graduate to know that is not sustainable. both parties are doing you a huge disservice lying to you about this. we'll have more after this. neil: this won't shock but are you sitting down. 98% of media coverage of president trump was negative. 98% is almost like 100%. susan, i, i can understan

and seema, given the sea sweep and in the market, having been a ceo, how would you feel about that rightbout now? >> if you look at the facts. democratic senators saying there are no facts of anything happening here. the people in the room with the russian ambassadors saying, it didn't -- the story didn't happen. if you're a business leader and you're outside looking in you say, gee, looks to me like more political theater. and then you look at the market and say, what's going on in the market? we've said for three weeks there's incredible lack of volatility. that it's at all-time highs and we're ripe for a move. he we are. off one or two percent off allnime hi allnial all-time highs. reacting for to retail. a retailer going bankrupt every other day here. as much as anything going on in washington. i come back to washington and say, look -- the question and risk is that the agenda, the policy agenda is derailed simply because the noise outweighs the ability to move the policy agenda. tax reform and health care are critically important to the business community and that's what they're wat

that were admitted to hospital of those 59 casualties were under the age of 16. 0ur correspondent seema victorious. she then turned to music and topped the charts with her songs. 0n social media, she is one of only six people in the world who have more than 100 million followers on instagram. 0n snapchat, she's one of the most viewed. and her trademark bunny ears popular with millions. she's the best thing ever. she's nice and she's kind, and she's really pretty. she is just amazing. nine—year—old summer describes herself as the pop star's number one fan. she went to the concert last night after getting a ticket for christmas. if i saw ariana grande, just that right there, i would cry! with joy. and i would hug her, and i'd do anything to meet ariana grande. tens of thousands of fans packed manchester arena to see ariana grande. many of them were children. the singer responded to the attack on twitter by saying... other celebrities with young fans have taken to social media to pay tribute to those who died, and to express their shock. i think that the greatest thing we can do isjust uni

let's go to seema mody. >> a big day for oil. trading at $49.22 up 3% almost on the day.k the nine month extension of a production cut agreement until march of 2018. now, this is longer than the six month extension that oil traders were anticipating. perhaps most surprising is russia's willingness to support this cut. i did take moscow -- it did take moscow some time to get to the daily threshold that was part of the agreement in december. now we look to opec and nonopec producer meeting on may 25th. oil traders are talking about the iranian presidential election this week which could be a driver of oil prices. the current president rouhani in a tight race with a hard-liner which puts the current nuclear deal with the united states at stake. energy the best performing sector. look at marathon oil and murphy oil, all seeing substantial gains in early trades here on monday. david? >> thank you. >>> when we come back, a deep dive into amazon as the company celebrates the 20 year run as a public company. >>> plus, give you a look at the shares of patheon. this morning, the du

the speaker as our seema mody is saying he is trying to focus on the markets.remaining in a tight range for 15 days. art cashin is with us, along with mike santoli. guys, good morning. art, to eamon's point about deflections on the republican side that's what the markets are focussed on. >> absolutely. that's the critical factor here. they expected the democrats to make hay as much as they could, but if he begins to suffer a sizable defection among the republicans that's a problem. you're all too young to remember it, but back in the watergate days howard baker stepped across the line and that's when nixon knew he was in trouble and he began to see republican deflections and that would remind everybody. that's why the market is so sensitive this morning. you had mccain speaking out. that's not a great surprise, but if there are others it could be a problem. >> is the concern -- ironically today is the day in '73 where watergate hearings began is the market concerned about that turmoil or just the fact that tax reform and infrastructure get delayed or put off th

involved in the operation overnight, and many paramedics, doctors, and nurses have worked traumatic seemahe investigation, and a continued to be patrols around manchester, which include the deployment -- and there patrols around manchester, including the deployment of armed officers. victoria station is closed and will remain closed while a isailed forensic search underway. we know many friends and relatives of people caught up in the attack are still trying to find out what has happened to their children, brothers and sisters, parents, and loved ones. please, think of those people experiencing unimaginable worry, and if you have any information at all relating to the attack, please contact greater manchester police. severe.at level remains i mean to a terrorist attack remains highly likely. but the independent joint terrorism analysis center, which sets the threat level based on the intelligence available to them, will continue to assess this throughout today and the days ahead. later today, i will meet the chief constable of greater mayor ofr police, the greater manchester, and the memb

>> seema, thank you. is this an entirely new move for infosys?you pointed out i think of infosys as really taking these jobs, making sure they're leveraging cheaper indian talent for these things. is this the first time they'd be building plants or centers like this here? they have been slowly hiring u.s. workers. this is i would say the biggest launch of this beggar plan to expand into the west, counter the reform that might take place on h-1bs and really try to hire american talent. >> all right. thank you. >>> two dow components out with earnings this morning merck reporting quarterly profit of 88 cents a share, five cents above estimates revenue also beat forecasts. but the company also raising its full year outlook. that stock is now down by a quarter of a percent. it was a mixed quarter for pfizer. the company beat on the bottom line but revenue missed street forecasts. that stock is now down 1.1%. other earnings news coach reporting a profit of 46 cents a share for its latest quarter. that's two cents above estimates. the hand bag and acce