Good tuesday morning. Welcome to squawk alley. Im carl quintanilla. From one market, the information founder and editor in chief, jessica lessing. Good morning to you both. Our top story is one weve been following since the election. That is, controversy over facebook and how it plans to handle fake news. Jessica has an oped and why facebook shouldnt fact check. From the piece she says i simply dont trust facebook or any one company with the responsibility for determining what is true, saying such editorial power in fa facebooks hands would be unprecedented and dangerous. Jessica, lead us to what led you to write this piece. Thanks, carl. So, obviously, misinformation on facebook and elsewhere is a huge problem that so many people have been thinking about this election cycle. And i was, frankly, pretty shocked how many commentators have reached the conclusion that the answer is facebook hiring journalists, editors and Fact Checking. As a journalist now with the wall street journal for
Staples doing not as well. Industrials and energy are leading the advance. W. T. I. Gained more than 2 on the day. Weve definitely come off the highs of the day. At one point the s p over 2100. Still up on the day but not quite where we were earlier on. We definitely saw the yen start to rally at the end of the day, too. Overall the rally did wind up starting in asia, the nikkei, hang seng were up. It spread over to europe. The ftse actually had its biggest rally since february. It did spread here to the u. S. Check out the vix. It measures fear in the market. This is a fiveday chart. Look what happened there. One point near 23 last wednesday and then now back down to 17. To show the wild ride were seeing in the market. One thing i wanted to point out, marathon oil was up by over 10 . It is buying pay Rock Energy Holdings for 888 million. It gives them exposure to oklahoma where the shale now lives but also speaks that m. A is starting to happen but on a smaller scale. Of course the oi
Two categories. Interest on the federal debt and mandatory payments on entitlements. That doesnt leave a lot for public investment. And clearly does not drive private investment. Working on shortterm activity right now and monitoring very closely. You are following the economy right now which is you suggested is doing very well and yet i think a lot of us would disagree. On one quarter hardly seems appropriate. Even its trouble or double or even triple we will not grow our way out of our crisis that is upon us. I would like your thoughts because were looking at areas that if we want those jobs to come back and if we want wages to rise, we will have to be in a position where we actually grow this economy once again. Policy, regulatory reform. Actually managing our entitlements, all of which seem critical and yet today we have not talked about that at all. We dont really seem to have a place where we can. Can you as an impartial individual in this process who watches the economy grow or
In the State Capitol today in indianapolis at the governors residence, donald trump at his children had breakfast at the home of one of his top vp contenders, mike pence who auditioned as donald trump number two at an audition rally last night. Senatort gingrich and Jeff Sessions of alabama came to the Hoosier State today for their own lastminute face to face huddles with the candidate at a downtown hotel. The candidate also reportedly called Chris Christie to be a finalist as well. If you are on all confused on his stance, do not worry. The candidate cleared it up today in the interview with fox news. Mr. Trump the level of receptivity has been incredible and the governor has been amazing. So, we will see what happens. Newt gingrich is coming in today to see me. You are down to two . Mr. Trump no. Chris christie is someone i like. He is a total professional and a lot of people do not understand that. I am narrowing it down. I am at three and potentially four, but in my own mind, i am
Someone from Morgan Stanley. Toid later, we continue focus on farmer with the merck ceo and chairman ken frazier, two important interviews you do not want to miss. Lets look at the markets. Jon futures a little bit softer , down by a 10th of 1 , the footsie with the biggest week of gains since 2011. Switch onof 1 , the the board and get to the bond comet, 10 years, treasury alltime lows, down by six basis points on the session, a softer down to 10 of5, 1 , expectations that a little bit of stimulus in the pipeline from the bank of england coming this summer. Alix that was the big news from yesterday didnt around the world, indepth coverage of our top stories, paul dobson is in london on the treasury yields hitting historic lows and the latest developments on the race for Prime Minister. Beijing, the latest manufacturing numbers in china and julie hyman on the stock move we saw. We begin in the third quarter, individual members. Lets start with paul dobson in london, is record low yield