recent stance on allowing companies to report material information through social media in light of the fake a.parket big time. coach reporting better than expected earnings, but that stock is down sharply in the last year. the ceo tells us exclusively what he plans to do to get the momentum going again. all eyes will be on apple tonight. we will have the instant analysis and market reaction to a very highly anticipated report, coming up. maria and i look forward to seeing you at the top of the hour for the all-important last hour of the trade on "closing bell." in the meantime more "streets signs" coming your way. ♪ [ male announcer ] a car that can actually see like a human, using stereoscopic cameras. ♪ and even stop itself if it has to. ♪ the technology may be hard to imagine. but why you would want it... is not. the 2014 e-class. it doesn't just see the future. it is the future. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and

the tweet was fake. the a.p. twitter account was hacked. the president's fine and there are no explosions. within minutes, the a.p. suspended its account. it released a statement saying the account had been hacked and the tweet about the white house was false. that's at about 10:12. between the hack statement and the tweet, the dow jones fell over 150 points. also markets went down. by 10:13, stock, bonds and crude oil were all trading before about where they were before the tweet. the dow is back up 123 points at 14,691. the nasdaq is up 30. s&p is up 13. >>> budget headaches strike again in contra costa county. four fire stations were shut down earlier this year and now two more could be on the chopping block. we mentioned the story on "mornings on 2" today. new at noon, sal castanedo joins us live with ri action to the possible closures -- live with the reaction to the possible closures. >> reporter: good afternoon. you may see fewer staff and stations open if the budget is cut. the station in pittsburg is one of two most likely to be cl

. >>> hacking america, the fake a.p. ntly wiped out mover than $100 billion in wealth, albeit briefly. do we need more regulation of social media? a special committee is taking up the issue. >>> plus check this out. you'll never guess who is driving this $200,000 ferrari, setting off a major firestorm. >>> apple now positive for the month. there you see apple. turn it up! [ male announcer ] let's say you pay your guy around 2% to manage your money. that's not much, you think. except it's 2% every year. go to e-trade and find out how much our advice and guidance costs. spoiler alert: it's low. it's guidance on your terms, not ours. e-trade. less for us. more for you. bny mellon combines investment management & investment servicing, giving us unique insights which help us attract the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. i've always kept my eye on her... but with so much health c

the tweet claims that there were two blasts outside of the white house and that president obama had in fact been injured but that it was fake the a.p. twitter account had in fact been hacked regardless the damage was done and within seconds that update had been rich waited four thousand times and apparently wall street was watching stocks took a nosedive within minutes of the tweet actually being posted the dow jones dropped over one hundred thirty three points but just as quickly as it fell the stock market recovered when it learned that that tweet was in fact a farce so obviously the boston bombing is still having ripple effects on the affairs of the american public meanwhile four days since the boston marathon bombing suspect dzhokhar sinai of was taken into custody by authorities new details are coming in from the investigation here's the latest information coming out speaking to interrogators from a hospital bed the nineteen year old acknowledged playing a role in planting the explosives near the marathon finish line he also told investigators that u.s. forces in iraq and afghanistan actually motivated him and his brother to c

the tweet claims that there were two blasts outside of the white house and that president obama had been injured but that tweet was fake the a.p. twitter account had in fact been hacked now we're going to list the damage was already done and within seconds that update had been retreated for a thousand times and apparently wall street was watching stocks took a nosedive within minutes of the tweet being posted the dow jones dropped over one hundred thirty three points but just as quickly as it fell the stock market recovered when it was learned that the tweet was a farce so obviously the boston bombing is still having ripple effects on the fears of the american public meanwhile four days since the boston marathon bombings suspect joan are. taken into custody by authorities new details are finally coming out about the investigation here's the latest information that's coming out speaking to investigators from his bedside in the hospital the nineteen year old acknowledged playing a role in planting the explosives near the marathon finish line he also told investigators that the u.s. wars in iraq and afghanistan actually motivated

the a.p.'s twitter feed saying breaking, two explosions in the white house and barack obama is injured. obviously, a fake said its account was hacked, but look at the impact right away on the dow jones, talking about in three minutes' time about 143 points down and then suddenly back up again as people realized this was a fake tweet and the a.p. made every effort to get the information out there that it had been fake and just by coincidence within about seven or eight minutes later the white house press briefing was set to begin and by tradition the a.p.'s reporter gets the first question and she had a chance to make news herself and tell everyone in the media what went on. here's how it played out. >> i want to say at the top that it appears a.p.'s twitter account has been hacked so anything that was just sent out about any incident at the white house is absolutely false and we'll be putting something out shortly to clarify if that hasn't happened already. >> thank you. the president is fine. i was just with him. >> and carl, we know that the fbi is investigating the situation. the secret service tells

. >>> kenny joins the conversation about this fake a.p. headline that went over twitter. ning around the floor, i was trying to find out what happened. and nobody knew. to your point. >> i was in the booth, all of a sudden you like at the mark, and there was no news, nothing. people calling around asking. that's how quick it happened. that goes to kate kelly's points, the algorithms that read the headlines, right? because of it goes right to the point, and then they create these automatic orders. >> it's like, shouldn't we improve security? >> i want to know what happens to those trades. >> we had customers with low-ball bids so drp they were very happy. the seller's not too happen. >> they are not erroneous trades? >> they will not be canceled. >> does the s.e.c. needs to look into this? >> i would imagine -- >> they're not going to cancel the trades, but they'll look into how does this happen. again it's about protection and securing our own markets. it could have been even worse, right? >> absolutely. four minutes is a long time for this market. >> i think -- i think it

breaking: two explosions in the white house and president obama is injured. of course, it's all fake. and the a.pblames the hackers. just look what happened to the dow. can you see where it nose dived seconds after theward spread. bounced right back when it proved untrue. same story at the s&p. lost more than $130 billion in seconds. one trader described it as pure chaos. you will be able to see behind me all the markets came to an end in the green dow up 152. fox business network ashley web city in our new york funeral newsroom, the fbi, federal trade investigating in a big way. >> they certainly are, shep. billions of dollars wiped out in just seconds. the securities and exchange commission says it doesn't have all the facts right now but it's to know how something like this can happen. of course, that is little comfort for the individual investor who literally stands there and watch the value of his or her portfolio just evaporate within seconds. traders, automated computers. the trades in a tenth of a second. put together with algorithmic software. what happens when you get a false rumor like

the tweet that the a.p. account put out at that minute. it said, "breaking" two explosions in the white house and barack obama is injured. that was a fake report as a result of a hack attack against the a.p. twitter account. but it set off this reaction in the dow jones industrial average, as you see from the chart, a huge spike down on that news. down about 143 points at the bottom. and then bouncing right back up, all of that happening within the space of about three minutes. and by sheer coincidence, the white house briefing was set to start, and by tradition, the a.p. reporter gets the first question from the white house. and she had a chance to make a little bit of news of her own, explaining what just happened here. take a listen. >> reporter: i just want to say at the top that it appears as though a.p.'s twitter account has been hacked so anything just sent out about any incident about the white house is false and we'll be putting something out shortly to clarify that. that has happened already. >> the president is fine. i was just with him. >> just a strange, strange story, larry. it's not every day that you see the white house

after the market responds to yesterday's fake tweet from the a.p., should we re-think social media asation? >>> plus, we'll talk to a disrupter that lets you invest in a person's career share in their income over the next ten years. think of upstart like a futures market for people. >>> and the president of amc on the shows you love. >> love was invented by guys like me. >> we'll ask him what's on the lineup for next fall as the third hour of "squawk box" starts right now. >> if i had my neck done, it would be like this. andrew's asking me if i had my neck done. did i look like i had it done yesterday? >> i think you've been exercising. >> i look like bruce jenner. welcome back to "squawk box" here on cnbc. first in business worldwide. i could play joker in the next -- i'm joe kernan. >> i can't believe you went there. bruce jenner is on an nbc program. >> you're psychologically long in your own mind. >> in my opinion own mind. >> i'm joe kernan along with becky quick and andrew ross sorkin. u.s. equity futures at this hour are indicated higher because boeing's up almost $3. although

the results. >> they're looking for key words like explosion, white house, president, obama. they read those words in that fake a.p. tweet and immediately triggered massive selling of stock. no human beings involved whatsoever. >> stephen: nation, this is a major breakthrough in computing. we now have machines that can receive bad news and flip their [bleep] millions of times faster than any human being. ( cheers and applause ). of course, i'm not surprised by the power of twitter. i mean, i have been tweeting for years at stephen at home. and being a master, i recently found a young padawan to twain in the ways of the twitter. jim? >> i took the liberty of opening you a twitter account. president clinton was taken. william jefferson clinton was taken. but prezbilly jeff was available. >> just spent amazing time with colbert. is he sane? he is cool. >> stephen: folks, this is one of those moments we will look back on and say, "that altered the course of human history." like man discovering fire, the voyage of columbus or the unknown genius who saw a taco and thought, "what if this was choco?" ( cheers and applause

the associated press and sent a fake tweet with real consequences. it read, "two explosions at the white house and barack obama is injured." you see it there. but immediately, the a.p. sent out another tweet saying it had been hacked. however, the false information was retweeted thousands of times within minutes. the ripple effect was felt on wall street. we're going to show you a chart of the dow for the day. right in the middle of your screen, you see that dramatic drop of almost 150 points as traders reacted to the false tweet. you can see the timeline. it happened around 1:00 p.m. eastern time. but almost immediately the markets bounced back and resumed normal trading. >>> new tonight at 6:00, stay focused on immigration reform. a former cabinet members and governors meeting on the peninsula today. they're members of the bipartisan policy center's immigration task force. condoleeza rice is among them. the current stanford university professor shared some of her priorities. one of them making sure that highly skilled people have a way to stay and work in places like silicon valley. >> obviously, when you have a statistic out of that duke study that 44% of the co

ago that syria has used chemical weapons and we have the latest on that. 48 hours since tuesday's big market flash move triggered by that fake "a.ptors have a legal case? and power house is going to be on. find out how much your money buys right now in detroit. scott wapner, back to you on "fast halftime." where's your boy, scotty? >> i wish he was here. >> so does mackey. >> although the newsroom and other staff are probably happy they're not here together. >> that's true. >> we've got mark cuban back with us. he's the co-founder of axs television as well as so many other different businesses. why aren't you tearing down twitter? or something like that after this whole thing happens? as a guy who is prolific on it. you've got 1.7 million followers, it's changed the way we interact with each other, the way professional news organizations and other businesses, s&p 500 companies communicate with us and each other, disseminate news and the like. why not attack twitter for all of this? >> for the same reason i don't attack cnbc if you guys get information wrong. twitter's just a platform. and they're not telling anybody out there the

the hackers attacked the a.p. twitter feed reporting explosions at the white house and president obama had been hurt. the white house quickly said everything was okay. the fake$42 billion in just that three minutes. >>> the last dance for strapless dresses. some parents are angry that redding middle school in new jersey banned their daughters from wearing strapless dresses. the principal says they're too distracting for the boys. >> the issue here is having someone interfere with my right to raise my children in a way that i think is appropriate. >> this year our school has definitely enforced dress code a lot. i don't know why this year more, but they're getting more strict. >> gretchen: parents petitioning the school board to overturn the policy before the dance on june 12. and those are your headlines today. >>> the f.b.i.'s focus turning to the bombing suspect's parents. they left the country before the attack. molly line is live outside beth israel hospital in boston with the latest. you've been there a long time and now you got new news to report. >> exactly. good morning. we're hearing not surprisingly that federal investigators want to talk to family

the a.p. account had been compromised. that tweet was enough to set wall street off into a brief panic. the account was suspended in a few moments and the market bounced back of course. the fake tweet paved the way for excellent snark like this, new york post reporting 12 barack obamas killed. the second awesomeest thing on the internet today swarms of people taking to various social media platforms demanding justice for a.j. clemente. including steve brown. mr. clemente is the local news anchor who began his new job by swearing on live television. in case you missed it here is a recap. >> news leader in high definition. >> [ bleep ]. >> good evening. you may have seen our newest reporter a.j. clemente -- he'll be joining the weekend news team as my co-anchor. tell us a little bit about yourself, a.j. >> a.j. did not have much time to tell us about himself because he was fired not long after that broadcast. you have to have sympathy for this guy. live tv is daunting enough let alone your very first day anchoring. people all across the country feel the same way because now there is an i support a.j. facebook page, a free a.j. hash tag on twitter. mr. clemente's new fans are ta