The European Union. Tune in to what he thinks. Sounds like you stuck it in over the weekend. Heres something you dont see everyday. An Industry Group asking for war regulations. They want regulation of the banks. They want more regulation of Fintech Companies in particular. Cam fine will join us to explain after the bell. We start with janet yelllye speaking. The latest market data raised the latest favorable possibility that firms may have instead have decided to expand their operations more slowly, and i intend to continue to pay close attention to developments in this area. So many think a june rate hike is off the table. Lets ask. We have cnbc contributor jack. Welcome, everybody. Eugene, first to you. Just as we were anticipating a rate hike, now it looks like its off the table, or is that your opinion . I think they have decided the glass is half full. The Interest Rates are not going to be going higher but im more tepid than that. Im looking at the economic data. I think the fed chair was really playing game of trying to calm markets by saying its all fun, dont pay a whole lot of attention to it. But i dont think well get a rate hike in jewel. Jack, did they successful calm market because despite speight the disappointing numbers, its positive markets back near the highs on the day. We have a rule. You dont fight the fed. Thats the rule number one. Now having said that, you cant be scared of the fed. This is a fed slowly losing credibility. Listen to the speech she gave today. She talked about how that last unemployment number is more than likely going to put off this nets rate hike. So all of a sudden were talking about a fed that has got a lot of people confused. Guess what. Theyre looking for perfection. Theyre never going to find inflection with inflation. Until they get away from there, were going to have a problem and a fed thats locked into the corner. That said, we also have a rally before janet yellen spock. How would you square this all . Definitely crude oil moving higher. Commodities are one of the leading groups that led this market higher. Top performing indices in through the month of may were all based on commodity, and that being led, of course, by oil. That being said, im with brian sullivan. I dont think you can take a camp and fail to move on the data that proved they should have months ago to a single issue from the bls that is notorious for their revisions. Keep a better eye on the adp number, the gallup poll numbers. The trend is your friend. This is recovery and would not be surprised at all to see a june move and i think this would be in the best interest of the fed to boost that credibility that we just heard about by moving in june. We saw in may a very strong usz dollar index thats up about 3 . Are we going have a very weak dollar index in june . I think we will as long as we dont see it getting weaker in any other countries. Of course, the dow is going to strengthen. And so i dont think that the dow will go much higher, but look out what happens with the brexit. Do you want to weigh in on that . First of all, this market is completely unprepare. If we were to get something in june, it would be a stock. The fact that its stabilized along with oil, more than likely earnings are going to improve over the next course of the half of the year, which means were not as rich when we were factoring in earnings a lot lower. Earnings were a lot lower. They were saying theyre declining. Its unusual see this. It doesnt auger well. Is it true weve bottomed out . Is there an argument to be made that actually the earnings trajectory is going to improve . I think there is. Your neighbor is driving a new car theyre probably paying more for. Ask your neighbors how much theyre paying for their Health Insurance and deductibles. We now know the money was going pay for the doctors visits or prescriptions raising rates. Thats why the Health Sector is one of the better performances. Rising rates are good for equities. Were trying to time a fed that has missed the advantage of moving when they should have. This is an art form. Its not a science. Its not directed on any particular data point thats going to move us. We were told in the beginning of the year rates are going higher. So if you want to do that, go straight ahead. We took it in stride. When they finally get off the mark and do what theyre supposed to do. Well leave it for there. Thank you for now. Appreciate your time. Moodys investment purchases, lets get to Jackie Deangelis with more. Good afternoon, kelly. Thats right. Just under that is the level. A lot of people are getting excited that the producers globally and here in the United States are profiting more and that things are getting better, but 50 oil still isnt enough for these gcc states to be in a really good position. In that recent report, they assessed the institutional state. They say it continues to pose a threat even at these levels. Remember most gcc countries have tried to withstand these low oil prices. These include diversion of economic plans. Saudi arabia is big on that one. But are these plans big enough to carry them through these tough times. Moodys is saying probably not, taking a little bit more of a negative outlook. The analysis looks at how the oil shock risk relates to Institutional Capacity and who specifically is at risk here. So the uae, qatar, and oman were stronger. The ones you expect to be stronger were the weakest links on the list. Definitely having more trouble. So the bottom line here is that 50 oil certainly sounds like its better but its not necessarily enough for these countries to be able to weather the storm. Remember, when we have a situation like this, it poses geopolitical risk and thats the threat to oil prices right now. At the same time, if that risk plays out, it actually sends oil prices higher, which is better for these countries. So lots of dynamics that play here, kelly. For sure. Jackie, thank you. Our Jackie Deangelis. Tmobile announcing a set of company initiatives, theyll offer a full share of common stock to millions of existing new customers and customers can grow their own up to 100 shares a year by recommending tee mohl mobile to others. All right. Is this going to bring us more . Joining us is john legere. Great to be here. T whats happened since we started them, were the fattest growing company by a mile. We have the most satisfied customers. Were feeling happy. But a big pain point, not just in wireless but everywhere is the royalty programs. 90 of the Loyalty Programs is they suck and 50 of what people sign up for, dhiemt use and 70 think its a scam. So we decided our customers need a good thanking. We had three big announcements. Its not just a stock but wendys frosty and other items as well. The other spen is that youre just paying to be a customer because youve cough up 48 worth of initiatives. I think every carrier move weve done, they scratch their heads and say how can we do that. By the way our stock had a 52week high, so were doing okay. But the three things we announced. I dont know if youre a tmobile customer or not but if youre not, this is what you dont get. Every customer gets a share of stock. Every new customer gets a share of stock and then 71 of our commercials they recommend friends and family and 70 of people say the most important thing to them is a recommendation, so as of now if you recommend something, you get a share, if youve a fiveyear customer, thats two. Tmobile tuesday. Every day is three steps. You download the arngs get free tlooe steps. Step three, there is no step three. Heres what you get every week. Fullsize medium pizza, two toppings, a wendys frosty and a vudu movie. Every week theres a movie, a sweepstake. This week they get 40 people and a party bus to a warcraft showing and the last we expandnd our gogo inflight. Every customer gets an hour of wifi. Why . Just to say thank you. Shocking. You guys have also ran very well. Kind of what those customers are looking for. Its interesting now that you have signed up quite a few subscribers, is there going be a consolidation. Sprint by the way, you might remember this guy. Hes now the sprint spokesman. He said he switched. We remember him from the campaign a decade ago. 2002. Can you hear me now. Two things i would say. One is i love to see sprint and verizon fighting. For three years weve been getting customers from both of them. And the other, marcelo, hes an actor. Hes an actor. Its not verizon. Weve had three years wulwhere all the industry is giving customers. Go at it. Youve got 6,500. 65 million. More than that. How many. 66 million. How many do you have to take off the table . It doesnt matter. We have an industry that is based around a seg mentation of the infrastructure people buy. They were operating them. There are cable companies. Wireless commerce. Customers dont care anymore. Customers want you all to use whenever they have to do whatever they want on mobile devices, so thats going to bring all of this stuff together. So i think no matter what we do, its an opportunity to consolidate and serve customers better. So people look at what at ts done with directv and wonder if you might do that with dish. They spend all that money and bundle. Thats not what i would do. What would you do . Integrate it. Serve customers that doesnt have artificial barriers to it. Dish has a lot. Cable industry is the same and then theres wireless consolidation. My job is to have a great stand alone packet which is what weve been doing. But then think about roys the future going to bring. Let me justed a real quickly as well. You know, according to one of these analysts, they say you guys are the only to enter the u. S. Wireless market in a meaningful way which could make you a target for a contrast. Any comment on that . What we have is brand as well. If you think about these things coming together. Were not just a consolidation of customers. Were a brand, a way to get to millennials and customers. Right now, you know, its been since the middle of 2014 since at t added a customer . So right now my job is to grow like crazy. Yeah, theres an awful lot of possibility and i love that. Are you focusing on the president ial race . Is it i think its an unheralded time. Im not sure either is going to have a major impact on the significant industry structure. Im watching closely like everybody else. That neutrality would go a different way under trump than clinton, no . Listen. Were a complete believer in free and open internet and whichever way it goes, well continue. Push the envelope as you always do. Is thats correct. Thanks for being here. About 45 minutes go as we turn our attention back to these markets. Down is back up 135. The s p 500, by the way, i believe, is at a new yeartodate in tra day high of 121. 12. The nasdaqs up 34. Meanwhile the worlds biggest Cancer Research meeting is taking place in chicago. The companies behind them coming up. Also ahead, the head of International Hotels will speak with us. Well take a look at the effect airbnbs is having on prokts. Youre watching cnbc, first in business worldwide. The call just came in. Shes about to arrive. And with her, a flood of potential patients. A deluge of digital records. Xrays, mris. All on account. Of penelope. But with the help of at t, and a network that scales up and down ondemand, this hospital can be ready. Giving them the agility to be flexible reliable. Because no one knows like at t. And that what goes down doesnt always come back up. [ toilet flushes ] so when you need a plumber, we can help you get the job done right, guaranteed. Get started today at angies list. For decades, investors have used a 60 40 stock and bond model, with little in alternatives. Yet alternatives can tap opportunities that traditional assets cant. And even though theyre called alternatives, theyre actually designed to help meet very traditional goals. Thats why invesco believes people should look past conventional models and make alternatives a core part of their portfolios. Translation . Goodbye 60 40, hello 50 30 20. Billions are spent to confuse and, dare i say it, flummox the American Public. Save 16 on Car Insurance. Switch now. Well at compare. Com, we say enoughs enough. So we constantly scrutinize millions of rates. Answering the question once and for all, who has the lowest. Just go to compare. Com and get up to 50 free quotes. Choose the lowest, and hit purchase. So you can get back to whatever it is you civilians do when youre not thinking about Car Insurance. Compare. Com welcome back. About 40 minutes go. I was almost going to say within eye shot of 18,000. Not quite there yet. The s p is up 12, nasdaq up 32. And boeings is up higher. Theyre talking about buying shares of it. Theyre telling reuters the order could match for more than 100 airliners from airbus. Only one suffered more, banks. Banks, ooh. Lets hope a rate hike doesnt hurt the sector. Lets move on, 37,000 people from doctors and professors and pharmaceutical expectations are meeting in chicago. Meg tirrell joins us now. Meg. Weill frefredwilfred, thats. There are drugs on the market from merck, bristolmyers and roesch. Astrazeneca is also working in this space. Also as these drugs get combined with one another, a lot of conversations going on about the cost of these therapies. We spoke with roche pharmaceuticals. Daniel oday. Take a listen. We take a look. How much access do we have to lifesaving medications. Every company is talking about this with Different Solutions being proposed some of that is really one huge topic at the conference. In terms of stock movers, youre seeing Companies Like kite and juneau. On the filibuster side, abbvie. Getting a downgrade from cowen today. And all eyes are going to be on a conversation with Vice President joe biden whos speaking here about the white houses cancer moonshot in just about 40 minutes, you guys, so pretty exciting. Meg, i was reading about these Combination Therapies that youve talked about a couple of times. Were already concerned, i guess, as a country of drugs that cost 75,000 or 100,000. What happen wheps you combine those for effective treatments. It would be interesting to hear what biden has to say about cost broadly speaking. It will be have interesting to hear what he has to say. I think cost is going to be a huge part of the conversation. No matter what were talking about with cancer. But its the answer. Were going to hear from a lot of ceos that they want to own every piece of the combination so they can think creatively how to price it together other than combining drugs and saying what kind of discount are you going to give, am i going to give. Meg, great stuff. Thank you very much for joins us. Meg tirrell in chicago. 40 minutes left of the trading day. Markets are near their highs. Right now were up around 128 points for the dow or 0. 7 . And the s p and nasdaq up similar rounds. I thought you were going to say not 0. 7 . What did i say . You said 0. 7 dlp. Were going to talk about how much airbnb is disrupting the Hotel Industry and what his company doing to protect its testify. Also ahead, best buy shares under pressure. Youre watching cnbc, first in business worldwide. Using 60,000 points from my chase ink card i bought all the fruit. Veggies. And herbs needed to create a popup pickyourown juice bar in the middle of the city, so now everyone knows. We have some of the freshest juice in town. See what the power of points can do for your business. Learn more at chase. Com ink see what the power of points can do for your business. [phone buzzing] some things are simply impossible to ignore. The strikingly designed lexus nx turbo and hybrid. The suv that dares to go beyond utility. This is the pursuit of perfection. Welcome back to the closing bell. Prospects have improved. It said cost cuts will allow them to offer more competitive pricing. Lets check out some other movers now. Tyson foods is falling. The markets downgrading the chicken and beef and pork. The firm also cutting the price target from 69. And best buy, they sold 8. 12 million in stock. They cut it by 44 as of june 2nd. They say its solely related to diversify holdings and it has no plans and no desire to explore other opportunities. Still those shares down 3 . Cnbc is getting a read on the state of the consumers today where top names in hotel and launching are meeting to discuss the state of the industry. Intercontinental hotels. Were joined by simon hobbs. Over to you. Hi. Richard, its interesting. Were talking about consolidation in the industry and where the growth is. Youve obviously got them doing the big deal, hilton spinning off various bits to try and beat truer plays. Where does intercon ttinental f in on this . I think when you look at the industry. Scaling is important and we have scale. We just got over 5,000 rooms. 1,200 in our pipeline, so we have about 5 of the worlds room, 13 of the futures missline. We bought little deals, tholes and restaurants last year. Great brand. Best largest boutique business. We launched brands in china, even hotels in the u. S. I think we have scale, great brands. Were well placed. But the truth is you were part of that conversation. I mean it was 2 1 2 years ago that the original saw it. You were in talks with the chinese. You basically bid around everybody, correct me if im wrong. You are wrong naturally. Who did you talk to . I dont comment on rumors. There are always rumors around us. Scale matches the industry. You can acquire scale or grow organ organically. There are two things, one is value creation. Doing an acquisition. And secondly is being true to the brand portfolio. For us its about the consumers needs, how do we have a portfolio of brands. It means we can meet the different needs and different occasions and were not in any way required or need to do a deal with a level of growth we have embedded in the pipeline. We feel very comfortable with our siel and scale and brand. I want to ask you about the vote on the European Union on june 23rd. Very, very well known uk retailer. My colleague wilfred was talking to him earlier and he was basically saying, look, everything is exaggerated. People watching here across this country have got it now on their radar. What should they make of whats at stake here . Look. You know, i wish i knew. Theres uncertainty ever which way is the reality. Now rngs as company, we havent made any Public Comment on brexit. I think for us because the uk is only 5 of our business, u. S. Is