And germany markets there closed for a public holiday. Oil prices are rising this morning. A longterm bear at Goldman Sachs now says the market has ended two years of oversupply and flipped into a deficit. The firm says this allows or follows disruption supplies from nigeria, venezuela, the United States and you can see wti is up by about 2 points. We were at 30 now its back to 50 and youre doing the super spike. The super spike came out a while ago. Remember the London Office . The supply has been shrinking. Is it ready to go up to 60 or 70 . Because they already missed the move from 27 back to 50. Yeah. But remember the super spike, that came out of gold mans London Office at the time. Yeah, i guess. But goldman they have many analysts. Other analysts will say its going down and some say up. Just another brand. Have you noticed three straight weeks since that person was here to say we are at an important level. What happens in the next weeks decides. Right. We are at factory data in china was weak. We have to watch that all over the world to see what can affect us. When i saw the dow, i thought, wow. Then i looked at the s p, and it is 2046. And it is the kumbayah moment. John williams says the u. S. Economy outlook is definitely looking good. He said two to three rate increases this year still makes sense in the next policy setting meeting, which is coming up on june 14 and 15. We have a lot of guests saying maybe once or twice maximum. A lot of housing data on the economic calendar. Today we get the National Association of Home Builders putting out their monthly sentiment survey. Tuesday look for cpi, Housing Starts and industrial production. On wednesday we get the minutes from last months fed meeting. On friday look for existing home sales and more retailers reporting including home depot, lowes, target, walmart, and get numbers from cisco and salesforce. Com. In Corporate News the kill graph reporting that google could face a record antitrust fund of 3. 4 billion from the european commission. That could come in the coming weeks as google has been accused of the eu by breaking laws by unfairly dominating the search market. How come home depot and lowes post one day and the next day just to prove the other one is better than the other. But all the retailers how can airfares at Different Airlines be 412. 15 and then you call the other place and it is 412. 15. How does that happen . How does lowes i think there is more collusion going on in the airfare side than on the earnings. Why do the two big competitors because they both end on the january 31st calendar. But there are a lot of to other retailers these are one day we get home depot, the next day we get lowes. Would it be weirder if it was the same day . If i was lowes i would move. I would, too. Because lately it hasnt been holding up. So go first and get the news out of the way . I just think you need space. For a while when home depot lost its way and lowes it was softer, more genderfriendly and everything. And now back to home depot. Mainly. In auto news, im lost. I have to find the first person i can find where are the nails . Light bulbs. Thats all i can handle. South koreas fining nissan for manipulating emissions tests on the suv models. The automaker denies allegations and says it will continue to work with south korean authorities. Have you talked to this guy . I did. We have an update right now on the attempt to sell itself. Reports on friday said quicken loans founder dan gilbert is teaming up with Warren Buffett to make a bid for yahoo . And berkshire is going to be a corporate partner this the bid. Buffett said im an enormous admirer of dan and what he has accomplished at quicken loans. Yahoo is not the type of thing id ever be an Equity Partner in. Hes offered investor advice to g 3g. Hes been a partner in heinz and kraft. Should we out him . I havent talked to warren but other sources, if you will, this is all out of yahoo . It has to. My guess this is yahoo bankers are not getting enough. We are headed into the second round of financing and they have to get names thrown out to get names to bid things up. Yahoo must not be getting the bids they want. But this story always was that warren was just talking about financing. Yes. Originally some of the headlines first came out they were partnering. It didnt sound like that. He may not be the finance arm. No money has changed hands. They have offered to do it as long as the proper terms and protections are in place. You have to admit it doesnt sound like his normal ibm was as techy as he gets. And that is not techy. It has to be yahoo s bankers looking for higher bids. I am a little tired of andrews negativity on yahoo . If i were watching and worked at yahoo i would be mad at you, over time. You know what i moo open . If i was a shareholder at yahoo i would be mad at them over time. Thats what i mean. What is fascinating you always say it is not worth as much as they get. When there was an article they were throwing out the number of 8 to 10 billion, yes. Shareholders would like to get that. Yes. When you say 3 that makes people upset. 6. 5 if you are delusional. And there are delusional people out there. This is what i am talking about. I rest my case. There are people what is interesting about the process, there are so many former yahoo people around the table trying advise dan gilbert. The former coo, Ross Levinson who was at yahoo hes advising another team. You know. It is probably Tim Armstrong with aol, they might be able to get some value from it. Tim armstrong has said that. Strategically that would make the most sense. It is worth how much to them youre talking. He should double pin more than anybody else. Which would be 4 or 5 to you . Probably. 6. 5 is the top. The question is, is yahoo worth more than aol . Hard to up imagine. I dont know. The dan gilbert people, hes a very smart guy. Maybe hes got a strategy. Maybe hell figure out something with the eyeballs. Maybe he has an idea we dont know. Okay. Im finished and done. I dont think i can talk about it again. This is a baby company we are talking about. Lets check on the markets this morning as we showed you the futures. The stock market futures are higher today. Well check things out, dow futures up 22 points. Again, it has been three weeks in a row of down marketed. So at this point green arrows look like good news to bulls out there. The s p 500 up 3 points. The nasdaq up by 3. 5. If you check out the tenyear note, that yield continues under pressure. Right now at 1. 712 . Thats higher where it ended at 1. 705 . Taking a look at currencies, the dollar is down against the euro trading at 1. 13. The yen is at 108. 87. And looking at gold prices this morning, youll see they are up 11. 1,283. 70 an ounce. The markets are opening for a firmer week after three straight weeks of not so great action for the bulls. But the dow and the s p was three in a row, but the s p is doing better than the dow. Here now with a look ahead, Christina Cooper from allianz gobl inve global investors. And the bow tie is back. Remember last time he had on the he had on a straight tie and we thought something was terribly amiss. The market was toppy. Was that strategic . Strategic. If i was going to wear one, i want one to spin around. They dont make those, but that would be so great. Talk about stocks and have it spinning around. That would be so its monday. We have a 3 45 wakeup every morning. Anyway, so hans, no recession. And a couple of numbers that came out, retail sales and both of those convince you this is pretty good where we are . Yeah. If you look at the numbers, definitely no recession. In fact, last week the gdp line of fed is where we are tracking q2, close to 3 . I think it is 2. 8 , Something Like that. So you definitely if you look at consumer activity, you look at, for the most part, business activity, Small Business confidence, no recession in the u. S. This year. So that should be off the table, which means, i would think, that every fed meeting should be a live meeting. There are people who think they missed their window. No. I dont think so. If you think every fed meeting should be a live meeting, how come the tenyear is only at 1. 7 . Because the market missed their window. Having said that, its not too late. And we could agree that we think chances are higher than what market probability is currently. Fed funds futures, last time i checked on friday was well less than 10 for june rate hike. We think theres the potential for negative surprise. Im seeing headlines now that dollar weakness is a big concern. That jack lew said something that was probably the biggest concern the fed had with the multinationals and the slowdown of the dollar. Now we are back to where they could probably move a couple of times and it wouldnt you wouldnt see the euro back to 106 or 107 again. Right. But they are worried about a market disruption created because expectations of a june rate hike are so low. That could handcuff them. So our expectation is that if june is live and it should be, they should be out talking it up. And were starting to see signs of that but they need to be a lot more vocal. All these traders are big babies. They have to know exactly what the fed is going to do. The fed has to absolutely it cant be a surprise to get a quarter point, a Second Quarter point increase might throw these guys off and they might get upset . There was a negative reaction in december. So the fed seems to look at probabilities before they act. And whether or not its the right thing to do, we think that they are going to have to Start Talking it up more in advance of the gdp. Do either of you think the economy is going to be stronger to support higher stock prices . Over the weekend, i kept seeing evaluations. The average stock is so overvalued. What was he saying, 100 overvalued by some evaluations . If you look at the individual names themselves 5 . Or 85 . If you look at the Earnings Growth, we have had five consecutive quarters of declining earnings. Four consecutive declines in revenue. Thats not a market to trade in 18 times. And it is not just energy. It has bled out the other broad sectors of the market. And i think its em bblematic o something that you cannot turn around very quickly. Was it three when was the last time we had that . Better stick with two, hans. Lets say 2. 25. But still, you can grow at that and not have it flow through to earnings. Interestingly enough, Small Cap Companies still are showing Earnings Growth. But the evaluations there are reflective. I saw something in usa today that said something about a year ago the s p set a record and now it is stuck in the muck. Thats what it feels like, doesnt it . It makes sense given where earnings have gone since then. Absolutely. So we need an earnings rebound before otherwise well be in a volatile trading range, typically given the election and all the thing that is are coming in the next few months, including the potential for a brexit. Right. Boris is out pounding the pavement trying to get people on his side. I dont know if the mayor has an opinion. I think the pc people want him to stay. The traders are worried about the implications. What is best for the uk is the question . Thank you. Talking about traders, heres a trade for you. The Hedge Fund Billionaire david tepper dumped his investment in apple. According to the new sec filing, joe dumped it a long time ago. You havent been sending him the emails you have been accepteding me for quite some time. No, thats true. Youre going to get another one soon. I bet i will. Tepper used to have 1. 2 million shares. He took a new interest in facebook. Also he got into bank of america with 6. 9 million shares and is following karl ikans lead. And apple ceo tim cook is on a Charm Offensive in china visiting apple stores and meeting with chinas top App Developers. Eunice yoon is here with more on mr. Cooks visit. Reporter thank you. Tim cook is on a Charm Offensive. Today he visited one of apples main stores in downtown beijing and was accompanied by the president of did, chuxing. This is the company that specifies in taxi hailing apps and is also the one apple just invested 1 billion in. And today tim cook got to get a up close and look personal on what he paid for. Both he and the president of didi took a ride in a didi taxi. And he was posting pictures of his experience on his wabo account to his 800,000 followers. Once they got to the store, they ended up holding a roundtable with App Developers including the founder of another important chinese company, they ir versio of groupon, and tim cook was stressing the importance of the governments role in developing the internet. Now, of course, tim cooks visit has been widely expected. The company has been coming under tremendous pressure for a variety of reasons including the slowing economy, a lot of competition in the smartphone industry and then finally, of course, the government clamped down on some of its services, such as ibooks and itunes. As well as the fact they lost a trademark dispute here. Theres an expectation that tim cook was going to come here and resolve all of these issues. And so far the Chinese Media have been reporting hes expected to meet with high level government officials as well as Internet Companies on this trip. All right. Eunice, thank you very much. Our eunice yoon. When we come back, a busy weekend in politics. President ial candidates campaigning in kentucky ahead of tomorrows primary. In the meantime, president obama takes shots at donald trump in his commencement address at rutgers. Ben white will join us with the highlights, next. The first stock index was created over 100 years ago as a benchmark for average. Yet many people still build portfolios with strategies that just track the benchmarks. But investing isnt about achieving average. Its about achieving goals. And invesco believes doing that today requires the art and expertise of highconviction investing. Translation . Its time to bench the benchmarks. Welcome back. President obama taking a few swipes at donald trump over the weekend in a commencement address at Rutgers University without mentioning the gop president ial hopeful by name. Suggesting that we can build an endless wall along our borders and blame our challenges on immigrants, that doesnt just run counter to our history as the worlds melting pot, it contradicts the evidence that our growth and our innovation and our dynamism has always been spurred by our ability to attract strivers from every corner of the globe. Thats how we became america. Why would we want to stop it now . Joining us right now to talk about it all, ben white, politicos chief economic correspondent and cnbc contributor. Becky quicks alma mater getting the obama treatment over the weekend. Were you there, becky . No. A couple things happened over the weekende. There was that and the New York Times piece of trump on women. And new pieces about trumps tax returns. Which one do you want to take first . We can take Obama Joining the fray in the campaign without mentioning trump. Hes done that before, though. Thinks crystallizing the message hell deliver on the campaign trail, which is this guy is divisive and blaming illegal immigrants. Joe is already over there and cannot handle the president saying trump is devisive. You think obama is divisive. Oh, no, no. Im not commenting on the accuracy of it. But this will be the Clinton Obama message, which is we cant blame our problems on immigrants or illegal or otherwise we cant have this sort of debate. You know, anyway, so the obamas are on the campaign trail. But it is interesting the amount he could spend on the campaign. The journal says his annual income babssed on this is 160 million. Who can live on that . Hes got to raise money. Would you spend your own billion dollars on a campaign . Well, taking Campaign Contributions means youre in the back pocket of donors, then i probably how do you explain that . Is that not hypocrisy to say youre finding to take money and then take money . Wow, youre acting like jeb after low energy. Okay, all right, nevermind. Go ahead. How do you explain it . Youre right. I am right. What do we make of the New York Times piece on women . Which to me was actually a very mixed picture. It was not a straightup picture. The headline suggested more than necessarily that sort of i thought it was pretty balanced. It was pretty balanced because he promoted women in his organization and women in positions of power. There was a balance. And there were instances troubling about how he dealt with women, particularly in this past year. Do you any that changes the game . No. That doesnt change the game. Unless there are more revelations this come out with his relationships with women. It wont help him with the female vote but it is not a game changer. One of the things you have been talking about in Morning Money is the numbers, in terms of where the race stands. Realistically where donald trump is today versus hillary in what could or could not happen. And you talk about both the prospect in the good camp for trump that he could take florida. Florida and ohio are the two big ones he could possibly win to put him in a position to win the presidency. But it is an uphill battle on georgia . Georgia is neck and neck. Now its a dead heat. If clinton and well, bill clinton was the last won to win georgia. If she takes those, its hard to see trump to get to the electoral votes because the Electoral College favors towards democrats. Lets talk about the democratic issues. Bernie sanders says he plans to take this to a contested convention. If he cant win it outright, he would like to see five things include in the platform including