rishaad: the second part was the starwood impact. the starwood impact will help us.the middle of the acquisition, so it is hard to comment on it. things have been positive so far. we have had overwhelming support from shareholders, and we are working now with the chinese government to pass regulatory hurdles in their countries. it is still anticipated to close somewhere in the middle of the year. it will make us a company that has hotels in every destination where people want to travel. rishaad: you can't get larger than that in the hospitality business. havehe other companies been doing this in your industry. you split yourself into various brands. you see further evolution of that? think we will add more brands in the beginning. we will spend more time placing the brands, looking at them and where they are placed what we are more interested in is our loyalty program, which drive so much of our business. traveler,e a luxury the ritz carlton. someone in the economic world, the fairfield inn. our goal is to capture any traveler, anywhere, anytime. china outbounde tour

deal,: with a starwood almost one quarter of the world's 3.8 million branded hotel rooms will be underhe marriott name. we will check in with arne sorenson. mark: for structuring of the world's largest bank continues. after falling 17% this year, will hsbc stocks recover? 19 minutes into the trading day in the u.s. let's go to the markets desk, where julie hyman has a look at things near to the ground. julie: coming out of the ground was a phrase one of our producers said. so oil, things that grow. commodities rally. that is powering stocks. one half in gains. energy and materials the best-performing groups from this commodity-led rally. they are in the top spots. financial rebounding from last week's declines. it is really only discretionary stocks in the red. oil prices working higher after we had the head of economic developing in abu dhabi protecting $60 oil by the end of the year as suppliers worked down. two point 3% gain. not quite $50 a barrel. you have the likes of exxon mobil going higher today. conoco-phillips. we are also seeing agricultural commodities rise because of fore

. >>> starwood hotels and resorts is managing a hotel in havana, cuba.y have managed a hotel in media since 1959. starwood says it will take several months to refurbish the proper. >>> the world's largest uncut diamond is going up for auction today in london at 1,109 carats. it is the second largest diamond ever found. it's actually the size of a tennis ball that was discovered last november. the diamond is owned by a mining firm and it's expected to sell for about $70 million. >>> amazon is expanding a dash program which is where people order detergent or foot by pushing a button. the buttons cost $4.99 but it's actually credited back to customers after their first order. >> jill wagner at the new york stock exchange, thanks a lot, jill. >>> still ahead, remembering a coaching legend. more reaction to the death of basketball coaching great pat summitt. yourbut the omega-3s in fish oil differ from megared krill oil. unlike fish oil, megared is easily absorbed by your body. megared. the difference is easy to absorb. a universal expression of disgust, (vo)

real big deals that are being bedded down, not least of course merits $13 billion acquisition of starwood he's going to do with 30 brands and two very distinct cultures. also a man incidentally, guys, who just cut through a fireside chat to warn on nationalism. that and more after the break on cnbc. [woodworker] i live in the fine details. that's why i run on quickbooks. i use the payments app to accept credit cards... ...and everything autosyncs. those sales prove my sustainable designs are better for the environment and my bottom line. that's how i own it. ♪ i could get used to this. now you can. when you lease the 2016 es 350 for $329 a month for 36 months. see your lexus dealer. pg&i help customerss, how with their bills.day? there's different rates to fit different needs, so listening is a huge part of my job. because customers want to know that you hear them. they have kids, they have families, they have priorities. i definitely understand that. i have three children, i was a stay at home mom, i didn't have money to pay the bills, and so i put myself in their shoes. and i'm going to

again this is one that i actually like and i think is in good shape so i'll say yes to starwood.in illinois mike. >> caller: bippety-boppit but yahoo. >> thank you, mike mike mike. what's up? >> caller: you know northern tier energy is merging with western refining. the registration statement has been declared effective on may 23rd. all that is waiting is the nti share hold attorneys vote for approval on june 23rd. that's expected to pass. why not load up and make a quick -- >> mike i'm not crazy bit. you heard me today on the action alert conference call. i'm just not crazy about fossil fuels. we'll steer clear. it's more of a utility. it's not the utility i want. can we take another? push pinder in pennsylvania. >> caller: jim. i love you, what's up. >> not much how about you? >> caller: good. excellent and question omed. display -- >> i like this company and a lot of traders have said they don't know what i'm talking about. that stock is a winner. i'm tired of people giving me trouble about a company doing quite well. how about we go to martin in georgia. martin. >> caller: ye

we have chosen, we chose not to pursue the starwood deal, we chose not to pursue even though we look at just about everything out there when it comes up, any inorganic growth. we are leading the business in organic growth so great stat. hilton is about 5% of the world in terms of existing stock. you look at all the rooms in the world under construction, we are 20% of all rooms under construction in the world. we are literally four times our existing supply of hotels in terms of where we are going and our growth rate. i think that's recognition that customers by driving high market share demonstrated by high market share and owners, because they can drive greater profitability, are continuing to sign up with us at greater numbers. our growth is at a pivot point and accelerating. >> the question is what's happening more broadly to the industry. your stock's down 25% over the past year. the new supply that's coming on, having been constrained for so long, it's been five great years. today we have the data that percentage occupancy for the first quarter fell for the first time in seven y

for hotels, the starwood american express card, is that the best going? >> hard to say.>> too many partners. steve, thank you for coming in. >> my pleasure. >>> when we come back, the countdown to the brexit vote. former london mayor boris johnson sounding off on chief jamie dimon. wilfred frost will join us next with that story. >>> but here's a quick check on the european markets this morning. things have been moderately higher. if we were looking at london before, up by 1%. france's cac just turned negative. the dax is up .10%. & in a world held back by compromise, businesses need the agility to do one thing & another. only at&t has the network, people, and partners to help companies be... local & global. open & secure. because no one knows & like at&t. >>> welcome back. here's a quick look at the equity futures that cut the losses on friday. we might get that back on the open today. the nasdaq called up just over 4. >>> jpmorgan is letting their employees ditch the suit and the dress in business casual when it's appropriate. you still can't wear jeans but jpmorgan's

marriott ceo looking to close his $13 billion purchase of starwood, a behemoth that would employ 500,000 people. hilton's ceo moving more asset-lite with a tax-free spinoff of its time share business and a $10 billion proposal containing 69 properties to be called park hotels and resorts. >> what's the issue in driving the lodging cycle is the broader economic cycle. so if you're confident that the business cycle, while it tab more tepid growth than we would like, if you're confident you're going to see broader growth continue, you're going to continue to see the cycle for lodging be quite positive. you're going to continue to see pricing. >> if gdp declines it's going to show up in our business. if gdp grows more hot modestly, that will show up in our business too with less robust growth. >> reporter: the silver lining may be that while marriott and hilton are bellwethers for the industry, some analysts believe each of their deals is so transformative that both of them could ultimately outperform. for "nightly business report," i'm simon hobbs in new york. >>> hertz is splitting into tw

deal when starwood was going to strip the time share.ooks like this was a very important deal. this -- the diamond resort deal. because it put a bid underneath in a group hurt by travel. so there's viacom deflated, but inflated to the hotel group. >> yep. >> maybe people should be rethinking priceline. >> okay. >> doing well. >> which got hurt on brexit. >> brexit. you know brexit, look, brexit did matter, okay, 66, uk, but a lot of -- >> $3.5 trillion lost in market value. it mattered. >> it mattered but i would say again fixed income told you what was happening. >> speaking of fixed income let's go to the bond pits. rick santelli joins us from the cme group in chicago. >> good morning. i'll tell you let's use the one week chart as the wednesday de jur vehicle. one week of 10s and one week of bunds. a defining move when the vote results were known friday and everything else has been an inside trade meaning we really haven't expanded that range and we are hovering for the most part at the bottom end of it. that's very important consideri

there may be one over all starwood, but they have so many subsets. >> that's true. the approach that cathay pacific took it based -- took. they split their propositions. they have programs that are viable for anybody interested in travel. rishaad: thank you so much for coming in. right, coming up, tough questions for while way -- huawe supplyingther it is technology to rogue nations. that is coming up on "trending business". ♪ rishaad: the u.s. government turning its gaze on to huawei technology. it has asked about exports to certain countries. what is washington looking at here? to people familiar with the matter, the u.s. commerce department has issued an administrative subpoena. they basically want to know if is sending technologies to iran, north korea, syria. anyway, huawei makes network and telecommunications equipment. there are suspicions that they might eat violating u.s. sanctions. it does not mean that huawei is it reexported u.s. products to those regimes. said it is committed to complying with laws and regulations in the markets where it operates. it di

deal,: with a starwood almost one quarter of the world's 3.8 million branded hotel rooms will be undername. we will check in with arne sorenson. mark: for structuring of the world's largest bank continues. after falling 17% this year, will hsbc stocks recover? vonnie:

. >>> and starwood has agreed to build two hotels in saudi arabia to make the capital riyadh more attainab attainable. they were taken over by marriott. our colleagues in the u.s. have a busy day and will speak to the ceo of marriott international at 4:50 cet fellowed by the president of hilton worldwide at 5:20 cet. and richard solomon will be at 8:15 cet. >>> janet yellin prepares to take the stage in philadelphia later today. friday's jobs report means the fed fund futures are indicating a 6% chance of a hike next week down from 21% just a few days ago. let me give you a look at how the foreign exchange markets are performing. and we have the dollar index off just over 1.5% last week. they have a majority of that taking place on friday after that payroll's number. i can give you a quick look at how euro dollar is performing to give you a sense of how the dollar is moving. the euro/dollar coming any moment. a touch off today, 1.1354. we are joined by the managing director and head of global ethics strategy at yuni credit research. i'm sorry if i got your name wrong, i'm not great with gr

you have to think when i talked to the other day from starwood had a price higher than where it's goinghe said, listen, if you think that this airbnb is not -- they have more rooms than three of the major hotels, airbnb is driving a lot of real estate purchases to be able to get rent. airbnb is worth every penny of whatever comes public. it's incredible. but you got to figure out if i want to be in the hotel business i don't want to be up against airbnb. but dave & buster's, i'm in the business of having a claw come down and pick up a, you know, dice. i still have the dice that we got in my window. >> someone said essentially put the beer in the middle of a bunch of games, not a bad business plan. >> you know, with the ncaa championship game didn't serve l liquor. people were like give me a coors, they're like, no, we don't serve liquor. sports and beer, another thing. this is just -- david -- oh, i'm sorry. david's online ordering things. >> i'm not, i'm looking at my notes because i'm going to talk for a moment about monsanto. >> i'm just saying this stock's a buy right here. tap is a

we saw with the marriott-starwood deal, a chinese player came in the last minute.hen five days later -- "i'm out." scarlet: and we still do not know how it would fit in with a strategy. people got the sense the central government was not happy with what they were doing. company did ae smaller deal in canada, moore and their core space. it was on all the way up -- all the way around. gregg: these companies are still trying to do outbound m&a. they have the cash in u.s. bank get the, you can records were people -- for a lot of u.s. company boards, they do not know who these companies are. they have to establish credibility. there have been stumbles, so the bar is higher. is there a higher bar to clear for chinese companies interested in u.s. companies given the political environment? gregg: seems to be. there is a challenge around anything technology oriented. there is a specific review above and beyond regulatory reviews in the u.s. chineseions that need rail soria approval, there is a higher bar because there is a concern there is a state owned enterprise and that

some of these deals may not make as we've seen they lost out in starwood situation, but i think theyinvest more over time. and part of this is they're getting their sea legs in this business. they're understanding how the process works, how the regulatory framework works. so that takes time. i think these are companies that have long-term investment horizons who want to own great quality assets so i think you'll still see more investment dollars from china. >> and in general are they good for the cash? >> yes, i mean, the chinese economy is grown to be quite large. it's the second largest economy in the world. their insurers are enormous companies with very substantial financial means. i think the skepticism around china i think will go down over time as they become larger players and people see them. but, you know, they have made some mistakes as they've been learning. >> although obviously real estate outside china is thought to be relatively safe bet. jonathan gray joining us there the head of real estate at blackstone. >> when we come back, cnbc's disrupter 50 list, who made it t

they are taking over starwood. that would be the world's weakest hotel operator.or the merger? they are the global index provider. we will chat with him before they are expected to allow china to join its indices. it's an executive fast. coming up in the next mine -- nine minutes. don't miss it. amanda: coming up, new polls itr a possible exit -- brags it suns pulls down. ♪ pimm: we are nearly 30 minutes into the trading system -- session. the dow jones is a half percent higher. london is up 1.1 quarter percent. gm will hold its annual shareholder meeting. i sat down with mary for an interview. i asked her what the main focus is today. ony: we are going to focus the fundamentals in making the company more efficient. we're going to invest in technology. cells thate fuel change and leave the transformation. david: you can catch my full interview with gm executives tomorrow on bloomberg go. now, it's time for our trends. pimm: these are some of the top stories our terminal users are reading. let's go ahead and take a look i was actually thinking it would be about bre

and when you start to see the megs gas get even bigger, marris and starwoods, i would think their philosophy would be how do we combat the shared economy we live in and move forward together as a stronger, larger company. >> john, i'm somewhat surprised to hear you think new york could potentially be getting near overbuilt levels. i mean, what does that mean in terms of your strategy and/or anybody else operating in the city. you're in a good position to talk about it. >> physically we're in a great location. we've got a great product. but what you're seeing in new york over the last couple of quarters is negative rev par growth. we still have the numbers in terms of travelers, some 60 million visitors this year in new york city, but negative rev par growth, so we're not able to raise our rates. and at the same time our expenses keep going up. labor, energy, taxes. so there is pressure on the bottom line for those of us operating hotels in new york city. >> do you worry at all about a trump presidency in terms of if he follows through on closing the borders to a certain extent or alienating

>> this is starwood before the market opened. it's going to be down a little bit.hey're building two new hotels in saudi arabia. that's not affecting the stock, but the stock is up 20% this calendar year so far. how about apple? it's going to be flat at the opening bell this morning at the $97 level. hou however, we have an apple bull on the show who says 200 a share and might take longer than he originally said. he'll make his case, a couple of minutes from now. mark zuckerberg and linkedin guy over the weekend, their accounts were hacked. . ashley: zuckerberg's twitter and pinterest accounts were attacked. and they easily found his simplistic password and it was dadadada was zuckerberg's password. stuart: it shows that anybody can-- >> it's mark zuckerberg. anybody can be hacked, including hillary clinton's private server liz: including hillary clinton, there you go. stuart: i'm going to get back to politics. donald trump, we hear, held a secret meeting with karl rove and karl rove is here. carl, by the way, is the author of the book, the triumph william mckinley