Then at 10 00, we have new home sales and Consumer Confidence. This afternoon, treasury will she auctioning 30 billion in twoyear notes. And dont forget about the fed. A number of speakers today including philly president charles plosser, bill dudley and john williams. Well be talking more about the economy in the next few minutes with strategists. First, lets get more on corporate news. Ill tell you whats going on that Insider Trading case. Reportedly dean foods has been subpoenaed. It involves carl icahn and Phil Mickelson and las vegas trader billy walters. Looking at securities around july 2011. Which is when icahn made an offer to buy that company. As for dean foods, investors are focusing on trading related to the 2012 spinoff of its white wave food. Also, the u. S. Export import has been in the headlines in recent days. This morning, its in the news for another reason. The wall street journal reporting that ximf bank has now suspended or removed four officials as investigators look into allegations of improperer gifts and kickbacks. Now, the agency helped export finance of goods and services. The wall street journal reporting one official allegedly took Cash Payments in exchange for attempting to assist the company into getting federal finance for export Construction Equipment. Joe, one of the things going on with this Export Import Bank is the support theyre getting from firms look caterpillar and bo n boeing, which are not Small Businesses at all, which is what they really support. But when you look at the numbers, Something Like 29 of the money has funneled its way into boeing, or at least thats what reports suggested this morning. And then are we going to talk about Richard Anderson is expected to back the Export Import Bank for providing some support for the sale is of bolings biggest jet. I dont know. Some conservatives have tapped into it and saidite corporate cronyism. Boeing stock was down last week one day on the idea that the xm bank would not receive renewed funding from congress. Its been a bick deal. It would somehow get the funding for it. The new majority leader is not in favor of it. Has been the staunchest critic of the xim bank. Xm bank arguing support for the bank rival carriers overseas an unfair advantage by raising costs for them. Thats weird. So its not crony capitalism for us here . Its crony capitalism for those overseas. They say it chooses big businesses over small ones. I dont know how that applies to boeing. No. They say the money for funding for some of these Companies Going back to it. The only way theyre able to make these deals theyre able to buy cheaper goods because theyre financing Small Businesses which provide those goods and services to boeing. And so he was a critic of it and now hes not. Im going to have to read the whole piece here. But yeah, suddenly were all talking about it. Is pfizer doing something with astrazeneca . A saw a couple of headlines. I dont think were there yet. How long do we have to wait . I believe its several months unless fiepfizer is pfizer i not allowed to make a new bid but astrazeneca could come back. And ask for something new . I believe if astrazeneca asks for something, more could happen. I know ian reed. I called and said you was to come on. He said well, i want to let all this quiet down. I said no, thats why im asking you. This would be the time we would like to talk to you. And i was thinking about him yesterday. I wonder whether we should have him on now. He probably would say the same thing. The other thing, if i recall late last week, astrazeneca was trying to bolster the consensus. Did you see these headlines . Analysts bnp analysts say pfizer could boost its bid or bid 75 sterling. But i believe so last week, astrazeneca tried to increase some of the defenses of the company. You say why did they need the defenses . That would only be if pfizer were to come back. If pfizer cant come back for, i think, three months . Did you see your poster child . Who is my poster child . Poster child for compassionate capitalism. Who is that . Howard schultz. What did howard do . Howard is saying can only six countries in the world cause corporation taxes. Mr. Schultz thinks you should be able to bring it back at a lower rate. 1. 9 billion in cash at starbucks, 1. 9 billion outside the u. S. And they said would you invest a lot more in this Education Program that you recently had if we bring that back . He goes yeah, we would probably invest a lot more. And he thinks the money thats held outside the United States is not anything back here would be better than leaving it over there, which is like you like to do because he think it might go to shareholders or dividends. No. I would like to come up with a true Tax Reform Program so that you all say that. Thats my preference. You know who you all are. It would be better because otherwise you create a system where the mope gets left over there until the next vacation. I dont see whats wrong with letting it build up every time and bringing it back. But you dont know when the vacation is happening. You build it up you leave it over there, anyway. As long as its 35 here, you leave it over there. If you need to be able to bring i back to do things like build manufacturering plans and build other longterm business, thats not going to happen if you have a one off holiday. This is why were sitting at 2 again. Talking about a howard shutty and things to do, did you see what gas is doing today . Wear white. Are you going to boycott the gas in the Banana Republic . No. Gap has decided on its own that its going to raise wages. 9 this year and 10 next year. And i believe all the clothes theyre wearing, its something that theyve chosen to do. What is this . Everyone is supposed to wear white in solidarity to show that theyve raised the minimum wage. The hashtag on twitter is we can do more. Gap, any company that decides for the pr benefit of doing that is hoping that all their competitors are forced into doing it, as well, because they would hate to rescind it when they were totally uncometive and no one else follows them. You wouldnt see fast food restaurants doing this anytime soon. In gleebl market news, europes largest economy is taking a break. Companies are concerned about political crises in the ukraine. Im bringing back the ukraine. Its too confusinconfusing. And in iraq. And speaking of the situation in iraq, secretary of state john kerry is in kurdistan urging political leaders not the withdraw from the Political Leadership in afghanistan. You do realize that by bringing back the the youre siding with the russians . Putin has a 90 approval rating. Are you one of the 10 that dont like him . Yes. Youre not . Joe, just to answer a question on pfizer decisionmaker. Hes firm. This is my friend chad bray writing in from london, base t on the profile, after three months, they cant look a the more takeover options. And what about sweden . If sweden comes in my pronunciation of ts has a d in it. Sweeten. What if they norway the offer or they denmark the offer . What if they finland the offer. The vision heads to zero. Stocks are treated from record levels, but the dow is still just inches away from 17,000, even though its numbers. Do you know how that works . No. Thats a mixed metaphor that doesnt work for me. So are stock he moving in lock step or are individual means a bet right now . Joining us w is tienberg, president and ceo and david joy, chief Market Strategist at am e ameriprize financial. When everyone is talking about the stock market and our ratings are hitting the stratosphere, many times thats what theres consternation, fear. Its so quiet and nobody seems to be watching quickly. Does this portend that something is going to happen soon and do we want that to happen . Well, you know, the focus on 17,000, joe, for the dow is certainly a psychological factor. It has a valuation guide. Its hard 20 justify at these levels, the dow trading at 15 times this years earnings and 14 sometimes next years earn g earnings investors are going to have to put the twitch at 15,000 applied earnings. I think well get a better sense in early july of whether or not companies and enough investors will be looking through the windshield and not the rearview mirror. David, i was trying to get at just the volume. The volume on the exchanges it goes down and down and down, down. The volatility, down and down and down and down. You saw the chart we were just looking at. Were probably averaging like 15 or 20 points in the up trend. Weve had, you know, 22 times we set a new high and were up only 5 . So its just been grinding higher. It almost looks like its because of the fed. Theres more around. It has nowhere else to go, and its finding its way there. But theres no conviction or excitement. Thats right. And the agree with my colleague. The Economic Data is firming, the fed is supportive. So there is a fundamental explanation for why the market is grinding higher. At the same time, as you point out, the vix is a 10, an 1 1. To me, this is an opportunity to buy relatively cheap insurance. I dont know if it means something bad is going to happen, but why not take out a little insurance policy here and buy some volatility or at the very least, maybe raise a little bit of cash if its a taktsiccal play and something bad does happen. Weve been hit with a lot of things. Baghdad is ready to fall. Russia can an ex parts of a adjacent end territory. I wonder if putin got 65,000 troops on alert, i wonder what it would be that would cause something to get to the vision despite the 15 or 20 and cause the markets we never know before it happens, i guess. But do you feel like were getting close to Something Like that . Well, i think the most likely candidate right now is the price of oil. Its eased off a little bit in the last day or two, but i dont have much expectation that john kerry is going to, you know, meet with much success here. In baghdad. And i think as a result, the price of oil could go higher here. That could derail spending plans. If you look at the history of economic down turns in this country, a lot of them are preceded by spikes in oil and thats not something everybody was spething here. To me, thats the most immediate threat. What do you think, rich . I agree. You know, Consumer Confidence is a very key issue. Again, nls until jobs start to pick up, joe, and we get some increase in wages, we could slog around here. But the valuation, really, is getting tougher to justify. We still hold through our 19 s p target for this year. We would expect if there was some kind of dislocation over the next month or so to maybe start to reallocate catch back to work around the 19 hundred level. That would be something to get us up that many days in a row. Thats probably what would happen at this point instead of down. Thanks, guys. Rich and david, thanks. Okay. When we come back, there is fashionably late and then theres just plain rude. But did gentleman look chief Marissa Mayer really fall asleep and keep a roomful of executives waiting for hours . Across the pond last week. Understanding. Weve got that story when we return. And the world cup is making it to the executive edge after huge ratings for the match between the u. S. And portugal. We talked about that yesterday. Now more highlights from mondays action including three goals in ten minutes by mexico. Squawk box returns in just two minutes. Means keeping seven billion ctransactions flowing. G, and when weather hits, its data mayhem. But airlines running hp endtoend solutions are always calm during a storm. So if your business deals with the unexpected, hp big data and Cloud Solutions make sure you always know whats coming and are ready for it. Make it matter. In welcome back, everybody. Marissa mayer arrived nearly two hours late for a dinner. She reportedly told some employees at the cannes advertising festival that she had fall ann sleep. Mayer is said to have arrived so late that the ad firms ceo and other attendees left before she even arrived. Gentlemen. Rude, rude, rude. Having said that, ive been to this conference years ago, and i do recall being very tired because you go over jet lag. Jet lag can get you. It happens. But i dont understand doesnt she she has a team of people. Arent they knocking on her door . I guess the surprise is nobody even bothered to make sure i dont even know if we know the real story here. She does what she wants, right . You mean taking care . Stood us up without even we never heard anything. Thats true. We were in davos and we were supposed to have a dinner with her. But more important, this was for marketers who she she fired the guy who used to be in charge she didnt care about were not paying customers. And the rap and knock on yahoo and particularly on marissa has been that shes not a client focused person. Shes a technology and innovative focused person. But when you think about the revenue potential for yahoo it is an advertising story. So technology and a person, a people person, i think. You dont think im a people person. Of course i do. Ive watched you work. Its all furthering your own, you know, career and everything, but youre very good at it. Thank you. Say thank you i think and lets move on with that. If you are a big soccer fan and work is getting in the way of your world cup viewing, you might be jealous of workers in latin america. Students went home early, apparently its a National Holiday every time their team plays. Sundays game between the United States and portugal drew an audience of 25 million. Ta makes the game a bigger draw than the nba finals or the world series. I think thats true. Weve all been watching it, too. Oh, yeah. What i was interested in today is that, you know, everybody is talking about a draw, that germany and the u. S. Dont need to do anything and they both get to know. And our coach said we want to crush the germans. Of course you do. Of course you do. And i would like to crush the german team, as well. No team wants to question well, every goal matters. They go back and count that stuff later. That part doesnt matter. But you are you are cynical. No. You dont think its a bitter end . No. I dont think thats going to have anything to do with both teams winning to move one more notch forward. Do you watch those guys . Ill tell you what i watched yesterday. Are they going to have helmets some day . Theres concern about helmets. They do it in slow motion and these guys going for the ball and they looked likeco nut ko c hitting. For soccer in the United States, do you think its a tipping point, the idea that joe is on board . If you read the twitter, tweeter but are you going to follow the premier league . I dont know. Nbcs or are you going to follow mls . That i dont know. I would go to a soccer game. Theres several soccer stadiums around here. Its fun to watch. You can either go to the soccer game or watch the stock market. On or watch your grass dry and your paint grow. Google is opening its world to third party apps. This is notable because its the first time that nest has allowed Third Party Companies access sess to its devices. Andrew, i think we look to you on this. This is a direct response to what apple was doing. Apple announced that they were effectively creating a standard by which you would be able to use your device on outline sorts is of home appliances. The only question i have is why didnt they try to come out with the standard before apple came out with their standard. Wait a second. To think this is a response to something from two weeks ago, doesnt it take more time than that to bring this to the planning . To me raises that question knowing apple was going to have that press conference, why they didnt try to get ahead of it. If we were talking about the app you were talking about my kids arent watching, are they . I dont want anyone to find out about it. Oh, the app you were talking about in the makeup room . Yeah. Yeah, yeah. So we should probably not talk about that app. Kids do play spin the bottle and i guess i cant prevent it and bottles are around. But this is an app where this is an app where the phone becomes the bottle. And you leave it there and you press it. I dont have to spin the phone itself. No, you spin the phone. You do spin the phone. Because i was thinking we could play it on the set. Im staying over here. You guys can play. And have to live by what it said. How bad does it get . There are some things on there that are pretty bad. That we would have to do. Yes. It might be worth it as a gross ratings ploy. This is business weekly. Wait. We would like to keep our viewers so maybe we shouldnt do this. It talks about a big open mouth french thing. We have officially jumped the hugging and other things that happen, yeah. What else . This squawkward moment has been brought to you by joe kernen. What are you talking about . You told me about it in makeup. Off the air. It was not intended for the air. I watched i should just tell everybody how did you find out about it . Because i was watching leftovers on hbo. I saw the premier of it last night. Another premier you were at last night. Not surprised. It was terrific. And i dont want to give anything away, but in that they use the app . The app. And its a real app . Supposedly. You dont even know if its a real app. I didnt go online to see if it was a real app. To play it . No, not to play it. How about with my wife . That would be good. Do you need to spice things up battles bit . Theres only two of you playing. Did you consider that . Its going to be one or the other. Im digging a hole. You are. All right. Becky i am not coming back to the set. Your wife would agree to play that because she knows theres only thank you. All right, gentlemen, when we come back, where a primary in mississippi has big implications for the future of the tea party, thats next. And mississippi probably wont be cnbcs top state for business, but we will try to trick scott cohen into tricking us where he is today. Right now as we head to a break, take a look at yesterdays winners and losers. When you run a business, you cant settle for slow. Thats why i always choose the fastest intern. The fastest printer. The fastest lunch. Turkey club. The fastest pencil shar