vietnamese air force planes have spotted two oil slicks in malaysia and vietnam. it was bound from kuala lumpur to beijing. it was an emotional scene where friends and relatives initially gathered to hear any news about loved ones on board. the u.s. is sending a naval ship, the u.s.s. pickme to the coast of vietnam to aid with search efforts. we go to tom costello who covers aviation for nbc news. tom, what can you tell us about the plane and the search and what we know right now. reporter: it s a mystery. i think this is one of the most extreme cases of a plane disappearing suddenly and without explanation and still missing this far into the experience. this is a very experienced pilot. the 777 200, a very great plane with a great safety record. it is a very early model of the 777. this particular one that was flying, 11 or 12 years old. importantly though, it did have an incident within the past two years or so. it hit another plane on the ground, on the tarmac, china p
they re conducting a joint search to try to find the plane. associated press is reporting minutes ago that the vietnamese air force planes have spotted two oil slicks suspected to be from the missing plane. this is a file photo of a boeing 777200 er that was carrying 239 people. the coe of ma layian airlines said that the contact with the plane was lost about two hours into the flight. our focus now is to work with emergency responders and the authorities and mobilize its full support. and our thoughts and prayers are with all affected passengers and crew and their family members. the airlines say that 80% of the families have been contacted. so far passengers on board were of 14 different national nalties, the vast majority of them were chinese, among them were three americans including an infant. joining me is phil. thanks for taking a few minutes. i guess there s a certain expectation when we have airplane crashes like this. i guess it s a good sign that they re so rar
announce tomorrow a brutal attack on the coal industry. but i beg to differ. climate change is not manmade. there s no proof of it and the president is once again going down the wrong road. all these stories and more coming up on the kudlow report beginning right now. we begin our special coverage with another wild day on the markets. we have cnbc s own josh lipton at the new york stock exchange. good evening. reporter: good evening. we had a volatile day. finished off the lows of the session in the red. the dow finished down 139. still major benchmark indexes finishing near two-month lows on heavy volume. concerns about fed tapering. chinese liquidity issues, worries a credit crunch there will contribute to a weakening of a economy. we saw a bounce in today s session as the market stanged a big comeback but yields move higher. you could see it in some bond etfs. we also had a lot of fed speak, including richard fisher, the dallas fed president, reportedly saying the fe
at 2:30 p.m. you can t miss complete coverage right here on cnbc. and guys, this is definitely the story of the week for the markets. really of the month. but i want to get to the story of the day or maybe the year. can i give you the story of the year? please do. here it is. president obama in an interview do you know about this? oh, i do. this is great. in an interview this week said he might be looking for a replacement for ben bernanke. the president was speaking on pbs to charlie rose. listen to this. well, i think ben bernanke s done an outstanding job. ben bernanke s a little bit like bob muller, the head of the fbi, where he s already stayed a lot longer than he wanted or he was supposed to. when he was asked whether he would reappoint bernanke if the fed chief wanted to keep the job, obama did not answer the question directly and bernanke s second term as chairman expires at the end of january. this has been the guess game. this has been part of
money managers billed 1.4 billion from u.s. futures for the week that ended may 14th. currency is a big part of this story. the yen is at 102.63 and the euro is at 1.2862. and our top corporate story this morning, yahoo! s board have now agreed to buy tumblr for about $1.1 billion in cash. the blogging service was featured just like week on cnbc as a member of our distrubter 50 list. i don t know if we now need to get a new member of that list, but at least it s working. the deal is expected to be announced as early as today, probably while squawk is on. we had a top tumblr go on squawk box almost a year ago to the day and listed on the nasdaq. we asked him what he thought as he watched the social network go public and as it bought companies like instagram and what the events meant to his views of tumblr s future. i feel very warm and fuzzy inside. the answer is it makes us, like, incredibly nervous. like we feel like we have to work harder and do better, become a frees