and for a check on the markets, we turn it over to seema mody. good morning, seema. >> good morning to you guys. and tgif. let's get to the news. safety regulators are expanding their investigation into engine fires on the chevy cruz. adding the 2012 model year, the probe now covers 370,000 cars. gm says there had been no reports of accidents or injuries, regulators opened the probe in april after getting reports of two fires when the cars were on the road. in other news, mortgage rates continue to drop hitting record lows for a fourth straight week. freddie mac says the average rate on a 30-year fixed loan hit 3.78%. the lowest rate since the 1950s. the 30-year has been below 4% since december, but it hasn't led for an increase in home sales. many are having trouble qualifying for loans or can't afford the big down payments. >>> taking a look at the markets, futures are trading higher right now. this comes in after stocks stage another late-day rebound yesterday. yikes, investors were whipped around by news just how committed european leaders are

. >> seema mody here with what's moving your money.ell-documented rocky start for facebook's life as a public company so far. and now there seem to be questions about whether some investors got special treatment before the ipo. >> reporter: that's right. as you pointed out, the facebook fallout does remain in the spotlight. on wall street and main street. now, according to "the wall street journal," the facebook cfo decided to boost the number of shares in his company's offering by 25% as his main adviser and lead underwriter morgan stanley assured him there was plenty of demand. but some investors claim that's a big reason why facebook shares have tumbled. meanwhile, the massachusetts attorney general is issuing a subpoena to morgan stanley wanting to know about a morgan stanley discussion. a morgan spokesperson says the firm followed the same procedures for the facebook offering that it follows for all ipos. all of this happening while this morning, a research firm decides to initiate a buy on shares of facebook saying fb should be v

for more on that and the rest of the news before the bell, we turn it over to seema mody live at cnbcorld headquarters. good morning, seema. >> good morning. u.s. futures are actually slightly higher this morning after yesterday's big selloff as we pointed out, stocks dropping about 1% across the board wiping out tuesday's rally. now the big culprit is europe. bond yields and italy on concerns of mounting debt. that pushed investors to safer markets like u.s. treasuries and asian bonds. european markets are trading higher today. in terms of what the market will react to, we get a ton of economic data out this morning with two reports on the job market as well as numbers on manufacturing and a revised look at first quarter gdp which may show the economy didn't grow as much this winter as previously anticipated. now taking a look at how the markets ended last night, the dow falling 160 points, it's on track for the worst may since 2010. the nasdaq losing 33 to close at 2,837. >>> foreclosures may make up more than a quarter of all home sales. accounting for 26% of sales in the first qua

for that and the rest of the news before the bell, we turn it over to seema mody live at cnbc headquarters. good morning. >> good morning to you, yes. futures right now are higher, coming off another down week of the markets, the dow and s&p 500 closing lower for three straight weeks. europe's debt crisis is still at the forefront for investors. g-8 leaders said this weekend they want greece to remain in the euro zone. eu leaders are holding a summit on wednesday to discuss the matter. asian and european markets are currently trading higher. no economic data out today. but this week we will get reports on home sales, demand for durable goods and consumer sentiment. the dow falling 73 points on friday, the dow lost 3.5% for the week. the nasdaq closing down nearly 35 to 2,778. nasdaq ceo says the exchange is embarrassed by glitches that led to the delay of the start of trading of facebook's ipo on friday. the stock was expected to trade at around 10:45 to 11:00 a.m. eastern standard time, but didn't open until 11:32. some investors didn't find out whether their orders were completed until 2

the latest from seema mody. good morning. >> yeah, that's right. good morning.nother day and another twist in the facebook saga. denying reports of talks with facebook about transferring a stock lifting from the nasdaq. the "wall street journal" says facebook's underwriters, morgan stanley, goldman sachs, and jpmorgan have made $100 million in profits from stabilizing facebook's stock over the past few days. shares rose 3% yesterday, the bulk of that profit came monday when the banks bought stock below the $38 ipo price. in terms of where the markets are at right now, futures are a touch lower after stocks staged a late-day turn around wednesday, the dow had been down on news that european leaders are preparing to exit the eurozone. europe may be the center of attention today. new data shows that german businesses are less confident in the country's economy. asia and europe are higher this morning, we also get data on unemployment and the demand for big ticket durable goods. the dow closing off just six points last night to 12,496. the nasdaq rising 11, and the

for that and all the news before the bell, we turn to seema mody. good morning. >> very good morning to you. chinese media reports electronics maker fox con has begun production on the apple television set dubbed itv. the company was preparing for the device but then denied everything a few days later. analysts are divided over when apple could launch itv with some saying as early as january, while others say, hey, not until 2014. it will include voice recognition and face time calling features. in terms of the market right now, futures are trading higher, they appear to be taking the latest news out of europe in stride after spain unveils more detail about the bailout of one of the country's largest banks and greece injecting more cash into the troubled system. european markets are trading higher. it's a big week for economic data today. reports on home prices, consumer confidence. later this week, we get pending home sales and revised outlook on first quarter gdp, auto, and retail sales and to top it all off, we have friday's job report. in terms

for that we turn to seema mody live at cnbc world headquarters. good morning. >> hi, good morning to you. futures are currently trading flat after markets bounced back a bit on monday. the dow snapping a six-day losing streak, the s&p 500 putting in its best day in two months, the nasdaq, the best in five months. asia was higher overnight, but europe is currently trading in negative territory. fitch has cut japan's credit rating citing the rising public debt. we get data this morning on existing home sales for the month of april, so that will likely be a market mover. in terms of how the markets ended last night, the dow rose 135 points to close at 12,504, the nasdaq adding 68 to close at 2,847. in other news, drive-thrus aren't just for satisfying that big mac attack anymore. a new report from the mpd group says sales which slumped during the recession are growing up 3% last year and 2% in 2010. more than 12 billion consumers got their food from a drive-thru window last year. a 2% increase in traffic from 2010. now panera which opened its first d

for more on that and the rest of the news before the bell, we turn to seema mody. good morning. >> good morning to you. just as you pointed out. futures are trading higher after stocks failed to hold on to gains early wednesday. worries about greece offsetting positive economic data on factory output and housing. the markets were spooked by reports that the european central bank was pulling support from several greek banks. japan's economy grew more than expected this winter. europe right now is trading in negative territory. we'll also get data today on new filings for unemployment that will surely be a market mover. in terms of stocks i've been watching today, walmart reports earnings before the open. the dow falling 33 points to 12,598. the nasdaq, the tech heavy index losing 19 to 2,874. the number of foreclosure filings fell in april to the lowest monthly since september 2007. the numbers could rise. florida and 26 other states that require sign off on foreclosure documents are starting to work through huge backlogs of paperwork. also, the countdown is on to t

for that and the rest of the news before the bell, we turn to seema mody, good morning. >> good morning and happy facebook friday, everyone. facebook does inch even closer to becoming a public company today. the social networking site, of course, pricing its ipo at $38 a share, the top end of the expected range. now, facebook -- excuse me, will raise $16 billion with the option for an additional $2.4 billion in about a month. now, that will make it the third largest u.s. ipo behind visa. it's also the largest internet ipo topping google, can you believe it? facebook's market cap is about $104 billion, only 21 companies in the s&p 500 are bigger. now, if mark zuckerberg were to cash out his $19 billion stake in the company, this could buy companies like kellogg's, heinz, and yahoo, shares will start trading under the symbol fb at about 11:00 a.m. eastern standard time. this continues to be the big news of the week and of the day. back to you. >> certainly here in silicon valley. thank you very much, seema. >> it is on all day long, and so is the weather. christina loren here to tell us a

seema mody is at the desk with the details. we seem to be drifting lower? >> yes.ok at nvidia, the chipmaker surprising the street with a new red and outlook beat. providing a lift to the overall -- or broader semiconductor space. in the biotech world, it's about the obesity drug winning the back of the advisory panel. back to you. >> all right. thank you so much, seema. we are in the final minutes of trading. jpmorgan is getting hit very hard. want to do a talking numbers segment. should you be getting this throughout the clothes? joining us now, how are you? >> good. yourself? >> good. what are the charts telling us about jpmorgan? should you buy? >> no, i do not want to buy this trade. >> why not? >> let's take a look. bottomed out in the summer of 201 20111, moved higher and started violating short-term support levels. now, it's very hard for a stock, after having a short term negative trend develop with the gap down to gill it higher. this is not a trend i'm willing to buy. >> when you read about the actual trade that they did, this was this improvement in the

seema mody is over there. >> the dow down 72 points. s&p down around 7 and nasdaq down around 2. now, if the s&p closes up to date, it will have the first five-day winning streak in over two months. that's where the markets are right now. let's get stock steve. verifone registering a beat of 64 cents per share and investors are focusing on the company's current quarter guidance which came in below analyst and toubled retailer and expiring without the company' agreeing to a take over deal. they made an offer that valued tal bot's at $2 million. sleep product group says shipments of mattresses increased 5.4% from a year ago. interesting. semiconductor players also on the rise. analyst day was on thursday and it was making heavy investments. that's what has helped the sector today. guys, back to you. >> seema, thank you very much. >>> 50 minutes until the "closing bell" sounds ahead of a long holiday weekend. you're going to hear a couple of -- hoots. >> what are they going to do? >> three-day weekend. >> she's getting an applause already. >> dow down 72 points. nasdaq down 2 points

. >>> i'm seem ma seema mody and here is what is happening.armin is seeing growth in all of their departments. revenue grew by 26% year over year. fall stronger than what the street was expecting. more people are using their phone to look up for directions. trip adviser, the stock flying high as the top and bottom line beat estimates after expedia soured sour soared on better than expected earnings. back to you. >> seema, thank you. 20 minutes left in today's trading session. retail doing very well. it's the banks and energy stocks under pressure. the nasdaq hanging on by a thread. up a fraction. the only one of the positive stocks. it's starting to fall back into the red. it's off of the best levels. intel one of the best performers for a second day in a row. volatility index up a fraction. today we're seeing opportunities looking for the best places to get the biggest returns. and now a great time to focus on the topic, given that the dow has managed to get out of positive territory in five of the last six trading sessions. >> given a recent

i'm seema mody. the nasdaq was pushed below 3,000 as traders took risk off the table.pple losing steam after reporting blowouts. the stock down 12% from the all-time high of 644 bucks. the component suppliers like qualcomm following suit. however, there was one bright spot in tech and that was linkedin. shares on better than expected earnings. the company putting its cash to use, acquiring a startup named slide share, a professional content sharing site. interesting stuff. maria, back over to you. >> did google steal oracle's technology to develop its android software? we have breaking news on the oracle case against google. let's go to jon fortt in san jose. go for it, jon. over to you. >> maria, the word from the judge is, take the weekend to think about it. he wants a full verdict, not the partial verdict. the jury was saying that they have come to an agreement on all of the questions except one in this first phase, this copyright phase of this trial. the trial it says is expected to go well into, if not through, june. it's about java in android, the key operating s

seema mody has the details. what are we hearing now?in response to the activist hedge fund third point, yahoo!'s board of directors has announced that they have formed a special committee to conduct a thorough analysis of scott thompson's academic credentials. the committee will look into the fact and circumstances related to that. taking a step back investors pulled out of risky assets. the main concern today is europe. back to you. >> seema, thank you so much. six minutes before the "closing bell" sounds. as we approach the close for the day, the nasdaq, best percentage mover. it's threatening to go positive, nasdaq well off the lows. wynn resorts has been the laggards. the volatility index off the highs of the session. it hit the highest level in a month. now a 19.26. bill, over to you at the post. >> maria, it's a down day on wall street and not all stocks are trading lower. look at this. hershey is up sharply today. another 1% gain and average daily volume is about a million shares. it's doing a million shares here at the new york

over to seema mody. >> that's right. cisco is casting a dark cloud over the tech sector. stock is down 10%. the company seeing strong demand for a drug that treats a rare genetic drug disorder. bill, back to you. >> >> thank you very much, seema. an alleged improper relationship with an employee. now there's talk of a potential coverup. the star tribune reporting other executives may have withheld information about that relationship from members of the board and now there's an investigation on that. for shareholders, another blow with the stock down 20% in the last three months on best buy. >> of course, this adds on to the bad behavior. we saw it earlier with yahoo! and ceo scott thompson and a stock sale that broke the company rules. we even saw it with chesapeake energy. >> you could go on, i guess. >> investors are priming up to start rising up, apparently. jeff joins us along with an attorney to talk more about what is happening and you've studied this and should those executives be fired? >> they should be fired. we've known each other for probably a century or so b

but as you mentioned, it is happening without facebook and seema mody is joining us. seema? black eye for many involved in the social networking sites public offering while the nasdaq is saying it is not responsible for the sharp decline in shares of facebook. trading error certainly causing confusion on wall street. that pushed some reluctant investors to the sidelines. traders i spoke to say most of their big clients are saying hit the sell button, let the drama calm down, we will buy in once things stabilize. facebook remains the most akive stock on the nasdaq, 143 million shares of facebook traded today. back to you. >> seema, i'll take it. thank you so much. >>> meanwhile, trading higher in the trading session, the uk lender is sillingity stake in black rock. barclay's is said to use it to offset the regulatory changes. better than 3% now. barclay's keeps fighting for return. return on equities for 6.6 percent. short of the banks 2013 goal of 13%. joining me now to talk more about that is barclays co-ceo of corporate inestment banking. jerry, always nice to have you on

to the nasdaq now and seema mody. hi, seema. >> start with retail.couple of the winners, whole foods hitting the ball out of the park. zumiez raising guidance. switch over to tech though. the best performing stock on the s&p tech index is teradata company reports wowing investors. >> thanks, seema. rick santelli is now at the cme with the latest on the bond market. and there's a lot of handicapping goipg on on what to expect for tomorrow's number, rick, right? >> absolutely. and traders are definitely handicapped due to all the uncertainty in the air that we continually speak to on cnbc. if you look at an intraday and year date of 10s, you can see we're a bit lower. look at intraday we're hovering at a fresh three-month closing. look at the bund closed up from their historic all-time year close 160 basis points. spanish auctionings, they went great except for the fact you paid up for the financing. last chart is euro currency. not highly unchanged from where it's been heading. back to you. >> rick, thanks very much. you're going to stay with us and w

to the nasdaq now and seema mody. hi, seema. >> hi, sue. stocks taking a breather after yesterday's strong start to the month of may. the adp data weighing on the broader index. to get down to some specific names though, take a look at linkedin. that's one of today's losers. the company suffered a brief outage this morning, but the networking site is back up. therefore the stock is pairing losses. and investors continue to hit the sell button on first solar. that stock moving to an all-time low of 17.78. in today's session the worst performing stock on the nasdaq 100. that's a look at some of the movers today. tech under pressure, sue. >> thank you, seema. let's go to the bond pits at the cme and rick santelli. >> don't put all your eggs in survey baskets. that's the lesson of the day. a two-day chart of 10-year note yields tells you pretty much everything you need to know. ism yesterday comes out, a survey, boom, we go from 190 to 196. today adp more of a head count, more of a quantity number. and it's about jobs, jobs, jobs. boom, we go f

. >>> let's get the latest on markets from seema mody. good morning, seema. >>> good morning to you. apple is still the world's most dominant brand. the annual brand study out today shows the ipad maker boosted its brand value 19% in the past year. the study combines the company's market value with its ability to create customer loyalty. seven of the top ten brands are tech-related. not a big surprise there. mcdonald's, coca-cola, and marlboro are the others. facebook was the biggest mover last year boosting its brand value 74% to move into 19th place. a quick check on the markets, futures are flat after markets bounced back a bit on monday, the dow snapping a six-day losing streak. the s&p 500 putting in its best day in two months, the nasdaq, that's our tech-heavy index where facebook is listed had the best day in five months. taking a look at global markets, asia was higher overnight, but europe trading in negative territory. fitch has cut the country's debt rating. we get data out this morning on existing home sales for the month of ap

seema mody is on that beat. >> scott, a lot of action on stocktwit today.isk-off rally seems to be pulling traders out of momentum stocks. one tweeter tweeting amazon app is big trouble for netflix. netflix down 80% over the past ten months. and just over the last month it's down 20%. we had b of a saying they expect another year of pain for the company cutting bottom line estimates. for investors who want in on this stock, it's kind of like catching a falling knife. >> it is, pete, right? >> very, very dangerous. we've talked about netflix for a long time. difficult trade. as it's getting to 52-week lows, i'm not sure we're at the lows we're going to see. >> seema, thanks. we'll get to final trades when we come back. tdd# 1-800-345-2550 we're hitting new highs. tdd# 1-800-345-2550 and i'm on top of it all with charles schwab. tdd# 1-800-345-2550 tdd# 1-800-345-2550 i use streetsmart edge and its tools like... tdd# 1-800-345-2550 screener plus - i can custom build my own screens tdd# 1-800-345-2550 or use predefined ones. tdd# 1-800-345-2550 and i can trade

. >>> i'm seema mody. here's what is happening at the nasdaq.oldings, the best performing stock on the nasdaq 100. a decline in same-store sales but the outlook for q1 getting investors excited. semiconductor space, qualcomm, paired gains over the past hour but not only got upgraded to outperform, but also named qualcomm the new topic among large cap semis, based on better hand set pricing. the stock better than 28% over the past six months. that's qualcomm for you. guys, back over to you. >> seema, quick check on the nasdaq. we ignored it because of the dow setting the intraday high. the nasdaq is nearly at a one-month high although it's still down 1.7% from the march highs. intel, big mover on the 100 today adding three points to the index. the volatility index, fear indicator down 4% or has been today. 4 1/3 after rallying. the fear indicator near a one-month low. michelle? >> we're going to stay with the markets because we saw the dow hit a four-year high. my next guest says, however, you would be wrong to sell in may and go away, at least t

but first, seema mody and a big mover in medical devices, seema. >> that's right. shares of medtronic currently trading in negative territory. even though a pickup in medtronics diabetes and coronary business units as well as strong growth in emerging markets helped the medical device maker beat street estimates. its cue for earnings jumping 28%. over the past two years the economically sensitive med device space has been under pressure. analysts at jeffries telling me that growth has been slower both because of the short-term issue related to the economy and demand for medical care, but also because pricing in a lot of these markets is under increasing pressure. we'll be discussing the head winds facing the medical device space today on "the closing bell" with the ceo of medtronic, omar ishrak. 3:40 p.m. eastern standard time. don't miss it. >> let's see how some of the major medical device makers are fairing this year. st. yud up the most. boston scientific up about 10%. johnson & johnson and medtronic both, however, down about 3% year to date. >>> speaking of on

seema mody is on that beat for us as she always is, seema. >> hey, scott.at map. once again a lot of buzz around tech. earnings reaction and exec ty shake-ups dominating the headlines. start with research in motion. shares falling below $10 this morning over more concern on rim losing market share in the smartphone market. let's get straight to the tweets. traders online taking rim's side on this one saying we like it. out with the old, in with the new might be a good thing. brad tweeting, head of global sales is replaceable. in fact, new blood might be a good thing. so that's just a preview of the heated debate on twitter. the bulls saying rim is looking to reinvent itself. a new fresh face heading up sales is what it needs. >> yeah. but, guys, isn't the issue it's not a new face? if he was bringing a new product people actually want today buy, that would be something. >> yeah. could have said turnover has been spot-on and here we are going now. i'm just on a risk/reward, rim sets up interesting. i'm hard pressed to believe there's a lot more downside, alt

seema mody is live at the nasdaq with the latest. seema. >> simon, shares of arena are currently halted as the fda advisory panel reviews arena's obesity drug. there's a lot of anticipation behind this vote given the fda usually follows the recommendation of the advisory committee. obesity is a growing epidemic in the united states effecting more than 30% of americans thus the demand for a drug that is safe and effective is at an all-time high. the last time an obesity drug actually hit the market was over ten years ago. three companies that are racing to get their anti-obesity drug on the market include vivus, arena and orexigen. the stock is up better than 30% this week alone and up 90% year-to-date. clearly a lot of people buying into the stock thinking that its obesity drug will get the green light. back to you. >> and we should point out that arena has more than doubled. if you picked up vivus, you also have done already well. that stock up 130% so far this year. thank you. let's move on. take a check on where we are with cisco s

seema mody here as usual with her analysis of the twitter heat map. hey, seema. >> hey there.'s trending on stocktwits. the bigger the box, the bigger the chatter on twitter. let's zone in on consumer goods. a lot of chatter right there. general motors has been an outperform in trade after the company hit unlike on facebook. and then warren buffett last night revealing his stake in the company. take a look at some of the tweets we got. if warren buffett loves gm now, he'll love it even more when he gets demolished along side every stock with european exposure. we'll get trader reaction to that in just a moment. let's take a step back and take a look again at the stocktwit heat map. social media stocks obviously in focus ahead of facebook's ipo. specifically chinese social media names. specifically a look at znga, stemming a hot debate. prodominantly bulli isish on stocktwits. there are a few bears out there. brad writing why would you ever invest in a company whose earnings were impacted by higher than expected censorship. scott, these are all high beta momentum trades. i'll l

check in with seema mody. p she's in the cnbc head quart wers that. >> good morning.hares falling as much as 15% in after-hours trade last night. the struggle blackberry maker and warning of a first quarter loss and has hired adviser to review all of the options including an overhaul of its business model. the stock is down nearly 90% from its high in 2008. in terms of the market setup futures are lower as european markets are slumping. yields on spanish bonds are surging. once again making it that much harder for the government to pay its bills and refinance its debt. reports say that the european central bank restructured the same plans to bail out troubled lender bankia. in terms of data, we are getting more numbers poe s on pending h sales. the stocks rallied after closing and showed the public it is committed to the public staying in the eurozone. dow rows 125 points. and the nasdaq gained 33 to close at 2870. >> thank you very much. more about-face book coming up. >>> right now we have breaking news out of free monday. police and firefighters there on the scene

to the nasdaq now and seema mody is following the big movers over there. >> hi there.stocks providing the leadership. investors are piling into these names. broadcom up 2.3%. seagate tech taking it on the chin after a downgrade by barclays capital, down around 5%. biotech also in the limelight. vertex pharmaceuticals sliding sharply after correcting its cystic fibrosis combo data. investors really upset with that revision. i should say we are off our lows. stock down better than 11%. sue, sending it back to you. >> thank you very much. >>> a check on the bond market now right now. rick santelli's tracking the action for us once again from the cme in chicago. we saw a little move into the bond market earlier this morning. is it holding? >> it's holding. we're going to get to the bonds. it's going to be the last train car on this train. let's start at the forensics. putting everything together. if you look at the euro, everything happened between 11:00 and 12:00 eastern today. you can clearly see how the euro gave up ground. we're all in one giant trade. it begins and en

seema mody with that. good morning. >> good morning. that's right.ahoo wants to turn the web world on its axis. they have launched its own web browser axis that lets browsers get access without leaving the page. it only works on apple mobile devices like the ipad and iphone, although you can get it as a plug in on your pc. taking a look at the markets, step back for a second. futures are trading higher at this point after stocks staged a late-day turn around. the dow had been down as much as 191 points on news that european leaders were calling for greece to exit the eurozone. and then markets recovered on news countering those reports. europe may be the center of attention today. new data shows german businesses are less confident in the country's economy. asia and europe are trading higher this morning. this morning we also get data out on unemployment and demand for big-ticket durable goods. taking a look at how the markets close last night. the dow closed off six points, nasdaq rising 11, and the s&p 500 adding two to close at 1,318. >> thank you

we'll check in with cnbc's seema mody who joins us with that and the rest of the day's business headlines >> good afternoon i should say to you. taking a look at the markets right now, the dow trading lower, even though consumer sentiment rose to a four-month high today. investors remain fixated on europe, most recently on spain where regional banks are struggling with their finances. in terms of news that we're following today, once again, facebook. no big surprise there. it's been a week since facebook went public. but the drama continues, morgan stanley will be adjusting thousands of trades involving facebook shares, sources tell cnbc that no trades from facebook's first day will be filled at more than $42.99 per share. that includes limit orders to sell shores at $43 or higher. those details come from a conference call with brokers. meanwhile, "reuters" reports that fidelity investments reports it's working with thousands of clients affected by issues related to facebook's ipo. so it does seem that resolution is trying to be made. more and more developments we keep receiving the faceb

seema mody at cnbc world headquarters. good morning. >> good morning to you. the justice department is reportedly investigating whether bp lied to congress in 2010 just about how much oil was leaking from the deep water horizon well in the gulf of mexico. now the "wall street journal" says a probe could lead to more charges against current and former employees. investigators are also looking at whether engineers working on sealing the well tried to withhold data about the true size of the spill. >>> in terms of the markets, the futures are trading higher as investors get back from the long holiday weekend. investors taking the news out of europe in stride. more details on the bailout of one of the largest banks and greece injecting more cash into the troubled banking system. asia closed higher, europe also trading in positive territory. in terms of data coming out, it's a big week. we get reports on home prices and consumer confidence today. later this week, we get pending home sales, a revised look at first quarter gdp. auto and retail sales. and to top it al

. >>> signs of steady job growth today, let's check in with cnbc's seema mody.t of the day's business headlines, too. >> hi there, barbara the number of first-time applicants for unemployment benefits was unchanged last week, confirming a view of a labor market that's still slowly improving. but that wasn't enough for excite the markets. u.s. markets quickly erasing morning gains as investors continued to fret about the ongoing concerns in europe. specifically, in greece. the markets have been spooked by reports that the european central bank was pulling support from several greek banks. in response, treasury prices gaining and the dollar has spiked after the philadelphia federal reserve index showed an unexpected contraction in the manufacturing for the region this month. speaking to traders, it seems like the only exciting part about the market right now is face book. the countdown is on to the most anticipated ipo in recent memory. facebook will price shares after the closing bell on wall street with an expected range between $34-$38 a share. "the wall street

let's go to the nasdaq where seema mody is following the action. >> barclays capital reiterating an overweightreport that showed apple laptop sales falling in april. barclays still seeins a lot of value to be unlocked internationally. that's a stock on our radar. amazon getting an upgrade by credit suisse. the firm seeing an addition of fulfillment center as a plus for amazon's profit margins. aside from that, the biotech index hitting a new record high this morning. a look at a couple of the companies fueling the index including amylin pharmaceuticals. back to you. >> thank you very much, seema. >>> to chicago once again. rick santelli is back this time to give us an update on the markets. tracking the action at the cme. hi, rick. >> hi, sue. if you look at 1.78 yield on a 10-year as you look at this intraday chart, it really hasn't moved much in the last several hours. the reason why it's not moving much is probably there's not going to be a lot of volatility because there's not going to be really a lot of change in the balance sheets of countries and banks overseas and states domestically.

seema mody has more on that. >> that's right. pfizer is currently making the case for approval of its novel pill to the fda advisory panel. later this afternoon the panel will run through a series of votes and provide their recommendation. if approved, this drug could compete with the injectable drugs currently on the market. bottom line, if the fda advisory panel recommends approval, pfizer has a chance to add a significant amount of revenue to its top line. sue, back over to you. >> seema, the shareholder spring is in full effect down in charlotte, north carolina, right now. check out some video that we had earlier. protesters being led away from b of a's shareholder meeting. if you think that looks contentious, wait until you see what's going on inside. before the break, five of today's biggest losers. goodyear tire topping the list almost 4% followed by gen worth financial. back in a minute. ♪ why do you whisper, green grass? ♪ [ all ] shh! ♪ why tell the trees what ain't so? ♪ [ male announcer ] dow solutions use vibration r

for that, we turn to seema mody live at cnbc world headquarters. good morning. >> yeah, that's right. interesting story here. general motors chooses football over football. signed a five-year deal to make it the official sponsor of manchester united. saying it was unrelated to the decision not to advertise in next year's super bowl. gm hopes to cash in on the estimated fan base of 659 million worldwide. in terms of where the markets are at right now, futures are slightly higher after yesterday's selloff. stocks dropped across the board wiping out tuesday's rally, the culprit, europe once again. bond yields surging in spain and italy on concerns about mounting debt in those countries. that pushed investors into safer markets. asia fell overnight, but we are taking a look at european markets and they are trending higher today. we get a ton of economic data out this morning with two reports on the job market as well as numbers on manufacturing and a revised look at first quarter gdp, which may show the economy didn't grow as much this winter as previo

and seema modi is following those developments. >> further economic turmoil in the eurozone is pushingrs out of risky assets like tech stocks. that's why we're seeing a sharp sell-off in some of those tech heavyweights. ibm, a blue chip, down better than 1%, although we are off of our session slows. concerns over europe not the only reason we're moving lower. disappointing earnings report from electronic ards as well as casino operator wynn resorts has those two stocks leading the decliners on the nasdaq 100. we're also seeing some big moves in the biotech space. dendreon investors hitting selling. a lot of concern about future sales growth of its prostate cancer drug. analysts at citi saying they are concerned with the risk reward of the stock and believe the only upside comes from a potential acquisition. so a broad sell-off we're seeing. tyler, back over to you. >> thank you very much. and speaking about getting whacked, high-end retailers getting hit hard on fears about europe. the s&p retail index down 1.5%. but up 16% over the past year. courtney reagan is on the retail beat. cou

seema mody is at the nasdaq where bob mentioned apple is a big mover. >> clearly not all investor focusebook. today shares of apple are rallying. traders saying it has to do perhaps selling out of fb and buying into shares of apple. another tech heavyweight fueling nasdaq is google. said to mobilize the deal. getting google that stronger foothold in the smartphone market. bottom line tech heavyweights are leading the nasdaq higher. tyler, back to you. >> seema, thank you very much. let's look at yields on the 10-year note among other bonds. as you see there, those yields moving up just a little bit because those are indicating the change in yield to 1.72%. but all of the other treasuries there, the 2-year, the t-bill, the 5-year the yields declining a bit and there's the 30-year at 2.79%. jeff kilburg, what's the 10-year telling you, if anything today and over the past couple days? >> well, ty, like you said, we're seeing equities bounce. we're seeing a supply in the treasury auctions this week, but no doubt about it we are seeing these yields hunker down here the 1.67 that was a level

seema mody's on the pharma beat. >> last quarter plavix brought in about a fifth of bristol's total revenue. but sales are expected to plunge after the blood thinner goes off patent and lower cost generics become available. analysts at isi group tell me they estimate a 40% drop in quarterly sales. so to compensate, bristol has been working to develop the next blockbuster drug. at the top of its list, an experimental drug thinner awaiting fda decision in late june. bristol among several players competing to launch new hepatitis c treatments recently making a $2.5 billion acquisition. bristol is on a spending spree buying up promising early to mid-stage sized biotech firms. analysts say future acquisitions will most likely be in the cancer and immunology space. all in all, tyler, bristol is hoping its strong pipeline and series of smart acquisitions will carry the company through the losses of plavix. back to you. >>> matt cheslock back with me. matt, how are you playing specifically the biotechs right now? >> i think big pharma has provided investors nice safety over the last three or four y

seema mody joins us right now. she's following the big moves there. >> hi, sue. yahoo! is dominating the headlines. the company seeking direction after ceo scott thompson resigned. the market is seeing this move as a plus. that continues to be a stock we watch closely. switch to biotech, we're seeing a lot of moves there. vertex in specific after an analyst at jpmorgan raised their rating on vertex to overweight from neutral. and price target to $82 a share from $45. the analyst cited optimism over the company's cystic fibrosis drug. ty ler, back to you. >>> seema, let's turn now to bonds. fears of europe driving investors to the safety of u.s. treasuries. yields on the 10-year falling to their lowest level since last september. let's look at the bonds market action. there we start with the three-month t-bell. it's dead in the water. why? it pays no yield. look at that, 0%. no change, basically. 2-year note, the yield is up a little bit. but the 5-year note's yield, the 10-year note yield, 1.78 coming down and the 30-year t bond the yield there moving down. jane, let's

we turn to seema mody live at cnbc headquarters. >> general motors is foregoing advertising in the super saying they're becoming too expensive to justify the cost. media buyers say ads for the 2013 game are up about 9%, going for about $3.8 million for a 30-second spot. gm has been the third largest super bowl advertiser behind anheuser-busch and pepsico spending about $82 million over the past decade. taking a look at the markets, though, futures trading higher right now coming off another down week for the markets. the dow and the s&p closing lower for the three -- for the last three straight weeks. europe's debt crisis is still at the forefront for investors. g-8 leaders want greece to remain in the euro zone. eu leaders are holding a summit on wednesday of this week to discuss the matter. taking a look at the broader markets, asia did close higher, and european markets are currently trading in positive territory. there's no economic data out here today, but we do get reports this week on home sales, demand for durable goods, and consumer sentiment. so those will likely be market move

seema mody is following the big movers.g comments among mary meeker. >> that's weighing on the tech sector, research in motion as well setting the tone for the broader tech sector. down better than 8%. the worst performing stock on the nasdaq 100 again setting the tone if you look at cisco and google both trading in negative territory. facebook has been seesawing between positive and negative territory. we're now down roughly 2%. that's a look at some of the stocks we are following here at the nasdaq. sue, over to >> thank you, seema. the only safe haven has been the treasury market where the 10-year note yields hit about 1.63%. rick santelli's tracking the action for us at the cme. that's the only place to hide today, ricky. >> yes. i'm the toll keeper for the safety island of fixed income markets, at least the domestic ones. if you look at treasuries, look at intraday of 10-year note yields, you can see we're hovering pretty close to the lows of the session in terms of yield, highs in price 1.62. we did trade briefly unde

seema mody is following those numbers there. not a pretty picture. >> certainly not.the nasdaq posting the sharpest losses. much of the blame on apple. that's casting a shadow on component supplies including broadcom, texas instruments and qualcomm. amazon had that blowout earnings report last friday. the shares retreating this week. first solar hitting an all-time low of 1608 after reporting a quarterly loss. one bright spot is micron tech. reuters reporting micron is the likely winner in the bid for that troubled japanese chipmaker. this acquisition would give micron access to the d-ram chips. that's a look at what's moving over here at the nasdaq, sue. >> seema, thank you very much. to the bond pits in chicago where it seems everybody's been going today given the economic data out this morning. rick, how are yields doing right now? >> you know, the treasury market is actually pretty easy for many months now. it's pretty much showing us at least based on its high price low yield trade that it isn't confident on many economic, maybe political, maybe debt issues or al

seema mody on the pharma beat. >> that's right, tyler. pfizer thinks so.to deal with the loss, pfizer is presenting a drug to a panel that advises the fda. it treats a rare genetic disease that impacts a small patient pool of 8,000 people worldwide. yes, limited customer base, but pfizer could essentially own a piece of what could be a lucrative market. a trend we witnessed in the pharma space, getting that first-mover advantage allows the drug giants to dictate pricing. while the advisory panel will make their decision tomorrow, the fda has already expressed a lot of concern around this drug. but pfizer telling cnbc that its data provides substantial evidence that support an approval. ahead of that meeting the stock trading in negative territory. sue, over to you. >> thank you very much, seema. so let's bring in jeff. you know, the markets -- i'm just looking up at the board, we're off of our worst levels, but we're still down 139 points today. so how do you play it? how do you make some money in this market? and how do you protect what you've already mad

we turn to seema mody at cnbc headquarters. good morning. >> good morning, yeah. that's right, hewlett-packard is reportedly planning to cut up to 30,000 jobs or just 8% of its global workforce. as it battles falling sales and profits. reports say the cuts will come from across the board, although the final number isn't set. a formal announcement is set for next wednesday. >>> in other news, taking a look at markets, futures are slightly higher after yet another selloff. the markets can't seem to shake off the worries over europe's debt crisis. there are concerns that greece's eventual exit from the euro could lead to a run on the banks, not just in that country, but other debt-strapped nations including italy, spain, as well as portugal. last night, moody's cut credit ratings of 16 spanish banks citing the weak economy. asia overnight sank, europe is trading in negative territory, and here in the u.s., there is no major economic data out today. the dow did fall for a fifth straight day down 156 points, the nasdaq losing 60 to 2,813. guys, that's a wrap, back over

check in with seema mody. >> the nasdaq opened higher. since then, we've pared gains.raders saying that we should expect another day of sideway's trading ahead of tomorrow's labor report. today's data somewhat mixed. a slightly better jobless claims number. productivity coming in lower. then retail sales, pretty mixed bag there. but mostly to the downside. let's take a look a a few retailers. ross stores offering brand names at a discount, beat estimates with sales increasing 11%. right now trading lower. t.j. maxx. and then costco failing to impress the street. movers in the tech world include tera data, they beat street expectations raising its full-year revenue growth outlook. the company is seeing strong demand for its data storage packages. >> thank you very much. let's get to bonds and the dollar. rick santelli's at the cme group in chicago this morning. good morning, rick. >> good morning, carl. today at 8:30 eastern, we had a much better-than-expected drop in initial claims. and that is good news. whether that leads to a timely creation of jobs is yet to be see

seema mody is at the nasdaq with the latest. >> concerns over the eurozone continue to weigh on the nasdaqll. among the stock stories we're following over here today, yahoo! dominating the headlines. the ceo scott thompson stepping down. that news seems to be well-received by the market as the stock is trading higher. also on our radar today, symantec getting slapped with a downgrade by goldman sachs citing shrinking profit margins and worsening cash flow. that's the reason for the downgrade. aside from that, a big week for the nasdaq. history in the making with facebook's ipo. some analysts say we may see a shift of capital from money managers, allocating capital out of the zyngas and groupons and into facebook. time, of course l only tell. speaking of groupon, they report tonight. jim, back to you. >> amazon push this weekend was right to my neighborhood as opposed to the push of things i don't really want in brazil and brooklyn. >>> let's check out the latest moves in energy and metals and go to bertha coombs. metals, energy, still in free fall. copper in free fall. >> definitely. not j

cnbc's see ma mody has more. hey, seemaith an expected range of $34 to $38 a share. f wall street says for facebook to be the biggest, shares would have to be at $41 or more. it would top visa's offering in 2008 when it raised $19.65 million. in other news the carrier says it will no longer allow customers to keep their grandfathered unlimited plans when they upgrade to its higher 4g network. it lets users use multiple devices on the same plan. now customers will get two gigabytes of data a month equal to five hours of streaming video for $30. verizon planses for five g gigabytes at $50. hopefully you can get your head around to all of those numbers. i'll send it back over to you. >> seema, thank you. >>> there are unique measures for recent vet rahs. the service is free. >>> today actress betty white is coming to washington. she will talk to the smithsonian tonight. the 90-year-old will talk about animals and her book, "betty and friends: my life at the zoo." she'd hello over to see the others aet the national zoo. tomorro