i'm wilfred frost along with seema mody now to our must-reads.ck is in the "wall street journal" titled "don't raise the debt limit repeal it. written by jason furman it reads for now the right move is to eliminate the debt limit permanently that would let the treasury focus on the most efficient and effective ways to manage the federal government's cash flow, giving future presidents a freer hand no matter which party holds the white house, all americans would benefit from taking the threat of a u.s. default off the table. not only do i raise this because it's an interesting article but also because both joint co-writers are on "squawk box" later at 8:00 a.m. to talk about this it will be an interview that follows the interview with steven mnuchin >> i like that piece. >>> my piece is titled "brexit in reverse." by approaching the negotiations that will start on june 19th in a conciliatory spirit, theresa may could reach an understanding with the eu on the agenda and agree to continue as a member of the single market for a period long enough to

. >> 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

. >> and i'm seema mody.e are taking you back with some of america's most notable black artists, right now you're listening to james brown >> i like that one great way to start the show. let's get to the market action futures are slipping it comes off a soft day. the dow was higher yesterday the s&p down by 0.2% the nasdaq 0.4%. a bit of a selloff in the afternoon. not much in reaction to the fed decision just softness in the tech sector that's why we saw the nasdaq as the worst performer. futures are down quite sharply 64 points for the dow. the nasdaq down another significant move, 67 points. that's higher in percentage terms. 12 points down for the s&p question marks on whether this is in relation to the announcement, reported announcement that president trump is under investigation for obstruction of justice an update from washington on that coming up the fact that the nasdaq is leading the move down, suggests it is not that as the driver, just more tech softness. oil prices were key yesterday. we did see

i asked seema a question earlier, i'm going to ask you, the great hope of modi was he was supposed toce to do business. i've heard him described as the ronald reagan of india is he? >> absolutely. i think he's a very, very strong prime minister he's doing great things for our country. great work happening on creation of infrastructure, within india. ease of doing business, one of the hardest things to solve in india. we've done extreme ly well over the past few years our ranking is up over 50 years from where we started and still a very, very long way to go. and it's clear we need to do much, much more. >> ajay, i'm curious, on the indian side, how is this conversation playing out on the h-1b visa here and the changes that the trump administration has talked about making, raising the salary requirement what are the follow-on effects you expect to see from that? >> i think h-1b is important for several indian i.t. companies, which send people to the united states to work but it's also incredibly important for american companies that need this -- these people with high skills, to come a

>> the president's secretary tom price, seema verma, medicaid services in our legislative affairs team has been providing assistance in working with members and senate leadership to talk about additional changes. we feel it we are written a really good place now and we look forward to what senator mcconnell talking about a vote next week. >> bill: former president obama does not like this. he wrote this on facebook on the screen. what's the president's response to that? >> the real meanness is along the american people to believe they -- let obamacare is still alive. obamacare has failed, county after county are left with no choices, rising premiums, skyrocketing deductibles. obamacare is dead. what people want to compare this ability obamacare which is an unfair comparison because obamacare is not doing what it's supposed to do. it is failed the american people, most people who still have access to it can't afford it. this appeal deals with the reality. if you look at the rest of the majority of where the democrats, especially at the house have done, they have signed onto a trillion d

. >>> let's send it back to seema mody at hq. strong in germany, seema. >> absolutely, sara.y green friday for european stocks as a whole with the german dax and london ftse set to close at a record high. german dax is posting double-digit gains so far this year, outperforming the ftse 2-16789 switching the conversation to currencies, the euro getting a bit of attention today, spiking to a seven-month high against the u.s. dollar in reaction to that weaker than expected u.s. jobs report. the move coming ahead of a very eventful week in europe. ecb policymakers meeting on thursday in estonia, all focused on dragi and his vision. investors watching to see if prime minister may's conservative party can win an outright majority in parliament ahead of those crucial brexit talks. moves in the pound have been volatile, holding on to 128 against the u.s. dollar. >>> we finish with our chart of the week. rts moscow, hurt by weaker oil prices. moscow's market in the midst of a four-day losing streak. and one of the only global markets in correction territory down from its 52-week high

. >> 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

seema mody takes a look at the economic ties that bind the two countries. >> reporter: prime minister modi's first face-to-face meeting with president trump will be more about relationship building and establishing trust as india has been somewhat absent from this administration's foreign policy discussions that have been dominated by china, russia and mexico. this weekend, modi received a warm welcome from corporate america. jeff be strkszos of amazon, and ceo tim cook coming to d.c. to meet with the indian leader. can we ask you questions about how the meeting went? >> it was fantastic. >> reporter: india represents a significant economic opportunity for tech companies in particular, with 277 million internet users and mobile growth on the rise making india the number-one market for android. the guest list of business executives wasn't limited to the tech sector. ceos of walmart were on hand. these consumer-facing brands hoping to capitalize on india's population of more than 1.3 million. half of which are under the age of 25. as modi has prioritized moving india away from a cash-de

i'm seema mody energy stocks are leegd the way. this as oil prices inch up ahead of the release of fresh inventory data stocks leading the charge include valero and tesoro. >> thank you very much good morning it is 8:00 a.m google headquarters out west 11:00 a.m. on wall street. and "squawk alley is live. >>> good tuesday morning welcome to "squawk alley." we're at the new york stock exchange joining us this morning from palo alto, co-founder roger m k mackname is google hit by this fine by unfavoring the search results over rivals? we talked to the eu's commissioner for competition earlier this morning here's what she said >> well, the fine is a reflection of the abuse and how long the abuse has taken place and, of course, the importance of the different actors in this market and we find this abuse has been taking place since 2008. but also that it has taken place in every european country where google shopping has been ruled out. and that, of course, is a very serious matter and that is reflected in the level of the fine. >> our

seema. >> hi, sarah european markets mostly higher today helped by news greece's agreed to offer moreut fund but overall decline for the week unable to overcome monday's tech selloff. but guys, this amazon-whole foods deal is impacting supermarket operators across europe one of the biggest losers, the dutch parent of the stop and shop and giant grocery chains in the u.s. tesco, that's uk's biggest retailer also down sharply deal overshadowing news of tesco's best quarterly sales performance in years sainsbury also in the red. and carrefour which is in the midst of a leadership transition, amazon deal comes as privately held german grocer aldi expands in the u.s. just goes to show that the supermarket battle extends overseas. >> absolutely. just as those german retailers and grocers were expanding their presence seema, thank you let's get back to sue herera with a news update hi, sue. >> hi, sarah thank you very much everybody. here's the news update this hour, president donald trump confirming an fbi investigation today through a tweet. mr. trump writing, quote, i am being investigate

seema, excellent. thanks so much.ter for cnbc. >>> think you had a fun weekend? this is a party in brooklyn's prospect park, i'll leave you to ponder that. be the you who doesn't cover your moderate to severe plaque psoriasis. be the you who shows up in that dress. who hugs a friend. who is done with treatments that don't give you clearer skin. be the you who controls your psoriasis with stelara® just 4 doses a year after 2 starter doses. stelara® may lower your ability to fight infections and may increase your risk of infections and cancer. some serious infections require hospitalization. before treatment, get tested for tuberculosis. before starting stelara® tell your doctor if you think you have an infection or have symptoms such as: fever, sweats, chills, muscle aches or cough. always tell your doctor if you have any signs of infection, have had cancer, if you develop any new skin growths or if anyone in your house needs or has recently received a vaccine. alert your doctor of new or worsening problems, including

also cms administrator seema verma. who went into the room tell us she walked them through what this bill would do to medicaid and steps cms to take to help the states these lawmakers come from. and remember, simasima -- seema played a role with democrat health care. and even senate republicans, plenty saying mitch mcconnell will have a pretty difficult time meeting this new deadline he set for himself of tomorrow. >> all right. yeah. the clock is ticking. m.j. lee, thanks so much. >>> joining us now, democratic congressman tim ryan from ohio. congressman, thanks for being with us. the headline "new york times" in the was interesting. in the light of the difficulties, that the republicans are having in the senate, the "new york times" says prospects for bipartisanship build. they say maybe there's an avenue here where bipartisanship can work to get something done. the other hand, you call it a travesty and betrayal to the american people. is this something you think is worth negotiating on or such a travesty, your words

seema mody did and she'll share the details. you're saying the new app will go live monday? yeah.ith help from hpe, we can finally work the way we want to. with the right mix of hybrid it, everything computes. 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. >>> tszit's been a volatile few days on bitcoin, but that is not stopping earn. seema mody put to the test >> with all the buzz around bitcoin, we decided to put to the test to see if it's possible to live a week in new york city of on bitcoin alone. here's what i found. >> do you accept bitbitcoin? can i buy this with bitcoin? do you accept bit about cocoin if about. >> no. >> reporter: new york city may have thousands of restaurants, but only a few accept bitcoin including the village in the lower east side. may i check out with bitcoin okay and there we go. transportation also a challenge. yellow taxi, subways don't accept bitcoin there is another option though buying uber credits via a third party. ran out of

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

seema, nick, paul, and a lot of people wishing not former congressman bob english.nk you for being here. i appreciate it. >>> coming up, robert mueller goes to jared. that's next. my business was built with passion... but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. with it, i earn unlimited 2% cash back on all of my purchasing. and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... which adds fuel to my bottom line. what's in your wallet? and you're about in to hit 'send all' on some embarrassing gas. hey, you bought gas-x®! unlike antacids, gas-x ® relieves pressure and bloating fast. huh, crisis averted. at crowne plaza we know business travel isn't just business. there's this. 'bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. yogig-speed internet.me? you know what's not awesome? when only certain people can get it. let's fix that. let's give this guy gig-

shares are up almost 60% over the past 12 months and trading at 23 times forward-looking earnings. >> seema thanks. >>> apple developer conference yielding a slew of announcements this week from a developer kit for augmented reality to the home pod, apple's answer to amazon's echo. joanna stern is the "wall street journal" personal technology columnist. scott stein, you were at the conference yesterday. i guess the first question is, is the audio worth $349? >> it's really hard to tell in a room like that. in their demo it sounded better than the sonus play 3 and amazon echo and it did seem to follow you around. it will not fill 360 degrees but it was just a music demo so there was no demonstration of any siri function, no smart connectivity, and entering the space now, that's a big question. how does that compare to amazon echo. it looked like a play just as a music device for your home. >> could be that they just couldn't train the speaker to everybody's voice to talk to siri or it could be they are positioning this as a music-centric device on purpose. which do you think it is? >> there

seema is covering that for us today. >> good morning, prime minister modhi and president trump will meett the white house but ahead of this meeting he met with a powerful group of ceos including jeff besos from amazon and apple's tim cook that left with a smile on his face. >> can we ask you how the meeting went >> it was fantastic. >> jamie dimon also said he was receptive and a strong leader. now in today's first face to face meeting between modi and trump the key will be relationship building and establishing trust for years they enjoyed a strong relationship with india seen as a strategic ally and economic and defense partner and also a way to countier balance the role china has been playing in the region but in trump's presidency india hahn been part of the foreign policy discussion dominated by china, russia and mexico i'm being told by a senior indian government official that modi will be prepared to have that discussion around the trade deficit and the visa program and defense but he is coming in to learn more about how trump views india and whether he will prioritize this relati

seema mody on the floor. coke is lagging. >> good morning, carl.itive session so far for u.s. market. the nasdaq also higher. we are setting ourselves up for what some are calling the most important day of the thursday. ecb meeting and former fbi director comey testifying this as president trump nominates a new director. i want to point your attention to the dollar. slightly higher right now. continuing to weaken against the japanese yen as the flight to safety theme has helped them to strengthen. 1.09 is the key level. overnight, china reporting that its reserves rose for a fourth consecutive month in april suggesting to some that beijing is now able to control its capital outflow. shanghai composite, closing up by 1% and now up around 7% over the past 12 months. the other big talk of this morning is the drop in yields, not just here in the united states but around the world. the near term catalyst will be the ecb meeting that mario draghi will end the quantitative easing, but black box accepting a dovish tone from the president. keep an eye on th

seema is. back home. in a little both of those pellets that you. just. have to leave the most that you can really. the bucket for luck that i. was i didn't know that my own itself was based off of. but the investigate the police officers behavior as well. i'll take drugs when it's played out but presence here. many people as you close. this talk about blackness and the blues of being black. and always will in a big house don't know any steps but i've been told but it was simply that we in remains as such because we simply forgot i don't believe. the scene we've allowed them to rearrange airplanes you've told us the sickness of trusting our enemy we came to face. that's what i call the lack of blackness or understanding the blues of being black. sheep the blues of being black should mandate that we attack knowing how when and what to do to come to simple in his national has been begged and simply time the feeling blue is black and blue. believe. me. the recent spat between the gulf states. has highlighted yet another middle eastern conflict while turkey i

seema verma says the program was never built to cover everyone.s built for a vulnerable population, our aged, and blind, and that program should focus on people with no other place to turn" verma's boss, president trump, backs the plan that slows medicaid's expansion. in the future, states would see less money for covering medicaid patients.instead the administration wants americans to count on insurance companies for coverage. "medicaid is a program, that states are spending, its their number one budget item, and yet we're not actually able to demonstrate that were having better outcomes"but senate democrats - including hawaii's mazie hirono - say cutting medicaid leaves too many people, at risk for no coverage at all."trumpcare sends a message, you're basically on your own"next week, the congressional budget office is expected to release its analysis of this new healthcare draft.two numbers senators will be watching closely: how many people would be forced off medicaid and how much money would taxpayers expect to save.in washington, i'm mark mer

seema tried to do it for one week is she still alive next. the day. [ gags ] i love the combination of gummy bears and meat. it's payback time gru. bratt has the girls. [ shouting ] ♪ so bad ♪ so good that i'm so bad... ♪ momma's coming girls. [ minions yelling ] hey. are you okay? [ minion babble ] despicable me 3. rated pg. >>> welcome back to "power lunch. bitcoins been on a record run. and top of a conversation here at the emerse conference even ber tainter pitbull weighed in >> i had my eye on bitcoin >> are you in it >> no i'm not to be honest with you. i truly don't understand it to this point i want to know more about it but it's amazing what they're doing in a virtue wall world >> so, how real is bcoin, can yo actually live off of it. >> you take bitcoin? can i buy this with bitcoin? >> i do not know what -- >> do you accept bitcoin >> no. >> new york city may have thousands of restaurants but only a few accept bitcoin including the village here in the lower east side. may i check out with albealbert? crest right up there and there w

seema mody has more. >> reporter: this tells you that there is an important relationship for wall streetnd many investors say india has earned its position alongside china as one of the fastest growing economies in the world and over 1.5 billion people, half of which are under the age of 25. if this encouraging backdrop that has prompted some of the biggest u.s. executives to sit down with prime minister modi yesterday and about an hour and a half meeting to discuss some of the hurdles that still exist when investing in india. >> i think the biggest issue is practical issues about decision making and how to do things faster and to get them done. >> reporter: prime minister modi will arrive here in a couple of hours to meet with president trump. defense and trade will likely be on agenda. the u.s. currently has its tenth largest trade deficit with india at around $30 billion. it's notable but pales in comparison to china and india. modi believe it is will bring down the deficit india has been investing in the energy story over $40 billion in long-term contracts from maryland and louisiana

. >> seema moda now with "market flash. welcome back. >> looking at financials, moving higher, up more than 1%, this as yields are on the rise on positive remarks from ecb president mario draghi take a look at two of the biggest banking etfs, kbb and kre, which track the regionals, on their pace for their best days since june. bank of america, suntrust, k keycorp among the winners. financials have regained ground, brian up about 5% so far this month, debunking that whole sell in may and go away theory. >> seema mody, great stuff from the white house yesterday. >>> t-mobile getting a big surprise from sprint and shares taking a hit that's news that is losing t-mobile invtoesrs some money today. we'll tell you what happened, coming up. ♪ it's been over 100 years since the first stock index was created, as a benchmark for average. yet a lot of people still build portfolios with strategies that just track the benchmarks. but investing isn't about achieving average. it's about achieving goals. and invesco believes doing that tod

. >>> let's get over to seema mody to get a quick market flash. >> hey, i want to point your attention. cnbc has obtained a copy of a letter sent by elizabeth warren to the u.s. department of defense asking for an investigation into transdime's business that was dated on may 19th as a member of the senate committee on armed services i have also been monitoring reports that suggest that transdime has used a variety of tactics to avoid sharing cost information with the government for parts for which it is the sole source supplier now keep in mind the call for a probe follows similar requests from other representatives we're looking at shares down more than 2.5% keep in mind though the stock is still up year to date and carl, it has been a popular battleground stock for a lot of hedge funds in 2017. >> all right, seema, thank you very much. >>> goldman sachs asset management announced the launch of the new etf for corporate bonds. joining us is mike well, the portfolio manager of the hedge fund sounds like an interesting product. trying to smooth out the bumps talk about why the demand is

. >>> we'll get the european close with seema mody. >> there was a global cyber attack that hit manyake a look at the currencies. the euro is climbing after tuesday's complaints on inflation from the president mario draghi the bank might start to scale back on stimulus interestingly enough, the currency took a brief dip on reports that the ecb said the markets misjudged those comments now, draghi and central bank chiefs from england, japan and canada are among those gathering at the ecb forum in portugal, mark carney said uk policies could hike interest rates if business investment increases. carney's remark send sent the pound higher we have seen six consecutive rises. look at bonds in the uk, the yields are spiking 1.15% >>> and finishing with two stocks, specific stories across europe getting a lot of attention, nestle planning the $20 billion buyback in the largest food company look at the uk grosser tesco saying it will cut 1200 jobs at the head office as part of the ongoing cost-cutting initiative. we're looking at shares higher but year to date, down to 17%. >>> thank you. whe

let's go to seema moody. >> the european markets are showing lows on the session.he stocks stabilized due to oil sliding into bear market territory. miners among the groups rebounding, anglo american and glencore are leading the pack. the bank of england chief economist said he would likely vote for a rate hike later this year citing a stronger global economy and resiliency in the wake of brexit now sticking with the u.k., earlier today the queen's speech outlined legislative priorities of the prime minister's conservative party, they include eight bills aimed at implementing the uk's withdrawal from the european union. one of the bills will focus on the uk to trade freely with the rest of the world. there was no mention of a uk visit from president trump in the speech reports actually say such a visit has been put on hold in the wake of huge protests in the united kingdom >>> finally, one stock to keep on the radar, tesco to close the call center in wales putting 1100 jobs at risk. this went down sharply on friday when whole foods announced that deal back to you.

. >> seema, it seeps the democrats are struggling to find a way to beat trump. >> there's a lot of recriminations right now. we saw statemnts from move on and from the progressive democrats of america saying you weren't liberal enough. you can't just have an anti-trump message. you need a more aggressive agenda. as democrats figure out how to wage the battles in 2018, there will be a lot of debate do we go the sen crist path or more progressive path. >> one of the statements, i just want to read part of the statement from democracy for america came out almost the moment that it was official that be ossoff lost. keep in mind this left wing progressive group chipped in about $65,000 into ossoff's campaign. money not well spent i guess from their point of view. this is part of the statement. most candidates don't have the luxury of lighting millions of dollars on fire by spending $12 million on ads. defeating republicans in districts they have traditionally held requires doing something democratically different than establishment democrats have done before, running on a bold progressive vision and i

. >> seema, thank you, semma mody at the white house tim, we got to go to you, the ambassador. >> primeister modi was elected in 20 14, rallied for a year since that times it's done nothing. the honeymoon period of high expectations this is a country we should be doing a lot of business with, they should be our friend. if you think about the technology kind of benefits and certainly the strengths of this economy and the demographics in india, it makes a hot of sense why this is ahigh-growth marke that people are willing to pay up for again, india is very expensive relative to emerging markets probably should be because, again, not a lot of oil and gas plays. lot of technology plays. essential l certainly a place where people feel corporate govern nance is better reforms in india are a lot harder to get through than people think because of the big social net it's a very complicated society. i think a lot of people, pekt d expected things to happen overnight. >> strong home among the tech sector that india would be the next big growth market clearly apple is hoping that is the case, pete,

let's speak to seema malhotra, shadow chief secretary to the treasury, who is in our westminster studior that. we were hearing from philip hammond and talking about the need to avoid unnecessary disruption and dangerous cliff edges. what did you make of what you heard? i have to say i was glad that the chancellor now appears to be listening to what parliament, listening to business. so many of whom have raised concerns about not having the economy centre stage in thinking about our future relationship with the european union. it's also very clear that he today has taken a big leaf out of labour's play book where we have been saying very clearly that you need to have an approach to brexit thatis need to have an approach to brexit that is going to be putting the prosperity of british businesses and families first, recognising that nobody voted in the european referendum, the eu referendum last year to be poorer and that's what the evidence shows that we're starting to see already and we haven't even gone any way into brexit negotiations. so i think that the recognition the public recognit

. >>> i'm seema mody we have an update on the global cybersecurity attack that seems to be impactinge of the biggest companies out there. we've just learned that mondelez and tnt, which is a unit of fedex, have been added to the list of companies being affected by this cybersecurity attack mondelez confirming their network is experiencing a global outage among other victims include russia's rosneft and merck we'll be sure to keep you updated on this developing story. >> the najarians are tracking unusual activity in telecon and industrial names we'll tell you which stocks are on the move next on halftime [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. what in real time?stomer insights from the data wait, our data center and our clouds ca

there are a number of common areas that modi and trump will speak on defense and trade specifically seemaut the meeting with tech ceos and visas a big issue. what do you county to come out on discussion on that specifically >> this is a big issue from india, technology sector a lot of them generate significant profits from h 1 v visas. i think prime minister modi signaled this is a commercial issue between the two countries and also u.s. domestic immigration policy issues. i don't think he will delve too far into it. he will raise the issue, has to raise the issue, but beyond that you probably see him delegate this topic more towards ministries and agencies responsible for it and having indian industry talk about it directly with u.s. counterparts. >> fascinating to watch will be the meeting of the two gentlemen who have pbig personalities, mod has made in india, trump has making america great each have a big social media presence how do you think they mesh >> i think they get along well modi has a history of being charming when it comes to dealing with his u.s. counterparts he and presid

. >> seema, i want to let you respond but i want you to listen to alan dershowitz making the opposite even if he did the president can direct him to do it. >> the president has the authority to direct the head of the fbi to stop investigating anyone. according to comey, comey says it is clear under the constitution the president can decide who should be prosecuted, who shouldn't be prosecuted, had should be investigated, who shouldn't be investigated. you can't obstruct justice by simply exercise your power under the constitution. you can't be obstructing justice by firing comey. he had the right to fire comey. >> who is right paul butler or alan dershowitz. >> alan dershowitz most respectfully. now, here is why. even if trump said these things, it is not a subjective standard on how comey felt if comey felt he was ordered or directed because he wasn't. trump is allowed to fire comey, point-bla point-blank. trump is also allowed to say, hey, i hope you let this go. he's allowed to say prosecute or not prosecute. the question, how do i reconcile what professor dershowitz says, the ques

medicaid services administrator seema verma. help us what is true and what is not.e program being gutted or isn't it? >> this program has been around 50 years. it is supposed to be taking care of most vulnerable populations. age, blind, disabled. we can all agreed that the medicaid program has not performed the way it should. instead of focusing on improving the program, what obamacare did was put more people into a broken system. what we're trying to do is to have the medicaid program focus on the most vulnerable people, reframe the partnership between the federal and state government. the way it is working today, the federal government making all the rules, putting out lots of regulations and states are stifled. they can't innovate with their programs. they are closer to the people that they serve and they have a much better sense of how to make these programs work better. so -- neil: but a lot of them like the medicaid part of that, right? they like having medicaid money and doing what they will and want with it. john kasich of ohio comes to mind. is the message

i'm seema mody energy stocks are leegd the way. release of fresh inventory data stocks leading the charge include valero and tesoro. >> thank you very much good morning it is 8:00 a.m google headquarters out west 11:00 a.m. on wall street. and "squawk alley is live.

. >> seema, thank you very much for that highly awaited decision, and guess what joining us now, we've head of management research and henry fernandez, msci chairman. so henry, what was different this time that got china into the msci index >> there were a fub things that were different the most important one is that the stock connect program linking the home market with shanghai and shenzhen is very effective and they were able to, you know, consult with our clients and the clients thought that that was a good access into the market that is better than the two other accesses which is the qualifying for institutional investor and the r & b qualifying for institutional investors. that one one thing the second thing is the reduction on the number of suspended stocks since the decline in the control. >> less control. >> a little bit of less control and more of an ability of shares and, three, the loosening. restrictions on the data in order to create index link in investment vehicles, so those were three things we focused on and our clients focused on to be able to get to this point. >> s

sell, but we begin with the breaking news on the indian's prime minister visit to the house today seema? >> reporter: prime minister's motorcade should be arriving here shortly where mode and trump will meet face to face for first time to talk about the economy and defense. the first thing on the agenda is a one-on-one meeting between modi and trump followed by a bilateral meeting, a cocktail reception and working dinner, make mode irk the first foreign head of state to dine at the white house with president trump. perhaps a nod to the important alliance that will be growing between the united states and india. on the agenda in terms of discuss points will be defense, which will likely be a bright spot between the two leaders as they try to coordinate on counterterrorism one area of contention is immigration and hsb visas. india makes up about 70% of that allotment. that drives 5% of india's gtp. many economists draw a lot of parallels between the two leaders. there's been a strong nationalist pro-business leaders that both believe in the use of social media trump is the most followed l

seema mody is with me here.ory data wreaking havoc again, down 5%. $45 and change now. >> add to that the regional dispute in the middle east with the qatar versus saudi arabia. that something that traders are also trying to get their head around. what do you get when you have a uk election, ecb meeting with, and the former fbi director testifying? everyone's calling it super thursday. and that's what so many people are keeping an eye on. >> so the markets have been playing it safe up to that point. gold hit that high yesterday. today, off of that high, down a fraction, but we're at 1289 and change. and the ten-year hit the yields low for the year, going back to the election time -- >> coming back a little today. >> at 217. >> and that helped the banks as well. they've seen as big beneficiaries of trump's pro-business policies. i think that's why comey's testifying tomorrow will be important. keep an eye on the banks. if there's any education of russia's ties with trump, does that cloud his legislative agenda? a

with me is the labour mp, seema malhotra. good to see you. thanks forjoining s. way in which jeremy has conducted confidence in labour and a way in whichjeremy has conducted the campaign has! whichjeremy has conducted the campaign has i think it ceded expectations on all counts, it has shown him at his very best. in contrast to theresa may who ran a poor campaign and took voters to granted from the very beginning. it has also rebalanced the debate about brexit, we have seen absolutely the end of theresa may's hard brexit as a result of yesterday's results. also, a refocusing on the big issues that have made a difference in the campaign, older people's care, housing, prospects for younger people, our policing. those were the issues people were talking about when they went to cast their vote. you are still in opposition, it would seem theresa may is trying to form a minority government. you are ina form a minority government. you are in a position in the last two years of opposition led byjeremy corbyn, many would suggest including those in his party, haven't been

he was making the case of why india is just such a appealing destination for big american firms >> seemang up, a number of high profile mega deals in the news lately we will talk whole foods, amazon, at&t, and time warner, and much, much more. ahead of mergers and acquisitions at jones day in just a bit coming up, though, why i am headed to d.c. today for the weekend. it's all for a good cause. i love this. >> hi, i'm alan greenspan. how are you? >> i love that guy he's like -- we have to update that so next time you say hi, i'm janet yellen >> that guy was so great he's like, no you're not >> he wasn't a plant -- >> no, he wasn't no, you're not you're on idiot. basically -- >> hi, i'm alan greenspan. how are you? >> dirty look. >> briefcase i had the -- the overcoat. check out the futures this morning. >> do people remember the briefcase indicator? >> i don't know. >> i'm worried about the next generation >> "squawk box" will be right back >>> time now for today's aflac trivia question -- are you ok? what happened? dad kinda walked into my swing. huh? don't you mean dad kind of ruined o