The cac in france up by better than 1 . Ftse higher as well, 0. 7 . Crude oil prices raiding near sevenmonth highs. Check this out up another 1 to 49. 07. Getting back to 50 a barrel. The gains that came yesterday, showed that u. S. Crude stocks dropped by 5. 1 million barrels. Double than what was expected. Well get the eia figures later today. Lets get you to other big stories. St. Louis fed president jim bullard saying june rate hike isnt set in stone. Arguing that labor data suggests its time to pull the trigger. Obviously, weve tried to be dat datadependent. I dont think theres any reason to prejudge the june meeting. We can wait until we get to the meeting and judge the data there. I think on the issue of press conferences we have made many moves over the years without press conferences so i think we could make a move without a press conference in it this circumstance. As for the risk of brexit and the chance that the uk could vote the uk vote could give the fed some pause, bullard says he doesnt consider it quite the Global Financial market that some are saying. But he does note that his views to be an outlier. Were going to hear from philly fed Patrick Harker and kashkari and fed president from dallas speaking today. And Hewlett Packard will merge with Computer Sciences in an 8. 5 billion transaction. Shares of both of those companies are up sharply on that news. Hp up by 1000. H hewlettpackard enterprise will meg whitman on the companys Conference Call talk about it. The remaining hewlettpackard enterprise, this transaction increases significant value by unlocking higher margin and strong Free Cash Flow business. Hpe will have 33 billion in annual refusal knew will focus on secure, next generation, software that leverages a world class portfolio of storage, networks and helium Cloud Platform and software assets. Meg whitman is joining david faber on squawk on the street later on this morning. It opens up and two little ones come out. Its the fed yesterday in the day, they actually, definitely handled something . Perhaps. Look at the rally. If you look at the rally, maybe the market is not worried. Were just getting back to where we were. Nothing has changed. Are they actually definitely handling this . Thats what i say. But have they definitely handled the tightening cycle for the last year . Theyve gone another . Maybe that is handling it, at least hold on to it will orchestrated gains. Protests at a donald trump rally turn violent in albuquerque, new mexico last night antitrump protesters squared off with police throwing rocks and bottles, approaching Campaign Signs and officers used pepper spray and smoke bombs. Meantime, inside the Convention Center, trumps speech was interrupted several times by protesters. And you know, we wrote down is everything good over there . Yes yes im on a certain show, and the oh, no, not another one. Where is you . In a speech, trump fired back at Hillary Clinton over her criticism over his comments about the Housing Market defending a prior at the same time that he had hoped for a bubble burst. I mean, im a businessman. So when the Housing Market goes down, i guess, what shed like to do, you see, if she did it, shed want to buy at the top. I like if it goes down, it goes down. Hey, i feel badly for everybody. What am i going to do . Im in business, okay. Never thought i was going to run for office. Trump now heads california for an event in anaheim. Wouldnt be the first time we heard a market analyst say stocks get cheaper, better for me. I think buffett has said that in the past, if they do get cheaper id rather buy them cheaper. Democratic president ial candidate Bernie Sanders who would probably like to outlaw the stock market, seeking a recount in kentucky. Clinton won that state. Sanders is requesting a full check and recount of all Voting Machines and absentee ballots now from every precinct in the state. Hes not going to go quietly. Right. Theyre asking him nicely, the clinton machine, i know that sounds like an oxymoron, asking nicely, theyre saying, what do you want . Stop. When you look at the counts he has no way of winning hes going to make his point every step of the way. I heard him saying yesterday that the california is the biggest and most important and thats going to be dictating where things should end. Hes california, is he . Its going to be in the platform . That is his hope to take his points and force them there. That will be good for Hillary Clinton at this point has said, no, that shes not going to do that. But people on the platform lets talk about some stocks to watch today, monsanto rejecting bayers 62 billion bid offer saying that the bid was too low but open to further discussions. Bayerization its confident that the two firms can address financing matters. Hearing from the ceo earlier this week he felt confident with it. You can see monsanto shares up by 3. 25 . Bayer shares up by 0. 33. Sanify. And Mitsubishi Motors is restating its Financial Results from last year to reflect a special loss of nearly 175 million. That correction is related to the scandal of its manipulation of fuel efficiency numbers. Also new this morning microsoft is conduct 1,850 jobs in its smartphone unit. Most of those position, in finland. This is coming as sales. Device continue to decline. The tech giant acquired the device from nokia a year ago. Let get back to the broader markets as we showed you. Futures higher. Dow futures indicated up by 80 . S p up by 10. Nasdaq up by 26. Both the nasdaq and the s p are now positive for the month of may. The dow was down still, only by 67 points. If you see the gains hold on this morning you will see the dow go positive for the month of may as well. Check out whats been happening with the tenyear. Prices were under pressure yesterday. Yields continue to decline. The tenyear at 1. 86 . In terms of foreign exchange, the dollar looks like down against the youre owe at 1. 1142. Up against the yen at 1 10. 17. And a showing on wall street, the best trading day since march. Joining us in ed campbell, and thomas forester, Portfolio Manager at forester valued fund. Do you think the fed handles this increase, or people now saying they told us about june i dont think theyre going to do it, so im okay. Well, i dont think theyre going in june. Do you think the market is going to rally . I think the minutes did what the fed wanted them to do which is increase the probability of a rate hiking in june or july. In june or july . In june or july. The market probabilities for june are still below 50 . The history of the fed is they dont like to surprise the market with a rate hike. I think ultimately if you go into july, but it is coming. Lets Say Something happens in the next couple weeks that puts it up to 50 or 60 for june. Does it go back down . Are we ready for it or is the market rallying because they dont think its june . I think the data we got yesterday in terms of new home sales, the blowout number, that argues more for you that the economy can take the rate hike that is its already written that says that the fed is jonesing to raise rate right now. And the brexit polls seem to be indicating right, the brexit polls seem to be breaking in the right direction. In the right direction for the fed to move. In the right direction for the fed to move, exactly. If theyre going to move, theyve got to move pretty quick, right . Theyve got an election coming up in in november. If theyre going to move, theyve probably got to move in june or july. They probably dont want to get mixed up in a brexit but youre right. Do you think traders or investors need to be collared . Well, the fed has been doing this for six years now of coddling. You do what you know. So the numbers that youve seen, in the last two months, good economic numbers . Well, youve got a mixed bag, right . So, you look at some of the more leading indicators like inventory to sales, those are awful. You look at auto inventory to sales, those are back at recession levels. You look at earnings, earnings are down year over year for five quarters now. Wed suggest that actually things are soft. But youve got mixed home sales in there. Strong numbers out there. On an earnings front, we think that the market is driven by, and gdp growth. And Earnings Growth has been, quite frankly, flat for quite some time. We also think that china is a big issue still. China did a trillion dollars of new lending in the first quarter. That got everybody excited and bumped back up. Dollar went down so the emerging markets did a lot better. Now, all of that stuff is starting to come off a little bit. We actually think the market could get soft over the next few months. So this could be reflected in stocks. Stockings arent necessarily they will trade depending on the underlying economy . We think so, yeah. Buffett said in the short run, kind of emotions. In the long run, its fundamentals. Were not big bulls on stocks either. But the economy . Well, i think the economys chugging along, right . The economys chugging along at about a 2 rate. You know, were still stuck in this table lowgrowth equilibrium that weve been in since the crisis. But i do think theres low krivg risk of recession. In terms of stocks, you know, i agree with the view that tom expressed. I think theyve got a tepid year. Better off in risk assets like high yield which are up 7 year to date. Versus the s p return last friday only up 1. 5 . We actually think that the fed is really just trying to get ammo for the next recession. Think about it, whatever the fed funds were 7. 5. 750 basic points to cut. 07, they were 5. 5. A lot of room to cut. Right now, 25, 50 basis points . Youve got no room now if you do start heading into a recession. So, we think they want to try to get some ammo in there. Because there are some analysts that only look at retail sales. Some of the econocompanies that out, gap, macys, they missed. And goldman says no reason to be in stocks. Is it possible to be up 10 . Is it possible to do that with the fed in the tightening zone . I think its possible. We need to see improvement on the earnings front. We do think thats going to happen on the margin. Q1 was the low point in terms of earnings per share. Were going to see that improve sequentially over the next quarters. The things that take a bite out of the dollar are dissipating. And we still think for the calendar year not going to get Earnings Growth for the calendar year. But people forget the tightening cycle indicates a better economy. In the past, stock markets have gone up in tightening cycles. People dont realize that. I think the general view is that should cause pe ratios to come down. At this point, higher Interest Rates are signaling a stronger economy. That should be okay for pe issues. Gentlemen, thanks. Weve got another buzz story to talk about this morning. I can confirm after a column i wrote about this very subject saying that paypal cofounder peter thiel was behind the 130 million lawsuit that hulk hogan won over nick denton. People thought that hulk hogan was an independent actor upset over what happened with the sex tape with gawker. In fact, the lawsuit has been funned and financed in part by peter thiel. Theres a lawyer, chris harter out in california that said expenses have been paid for by a mystery funder. It wasnt in your piece yesterday. It wasnt in the piece yesterday. The name had been floating about. And there was sort of some real issues about how and if we could actually confirm that his name was the person behind it. Peter has had i tried to be more responsible. The good news is, the column shook some of the leaves around the whole thing. How did peter fund it . Peter had a long history in 2007 with gawker. Peter was outed by gawker. Hes been very upset about it. Has talked about it publicly in a couple different places. At one point referred to gawker as al qaeda. And has clearly had an issue with this particular company. Payback. You could call it payback or revenge. To some degree. The issue, though, is going to raise and already seeing it with different legal scholars and other legal experts all sorts of questions. By the way, theres something called finance litigation. Theres a whole industry that actually finances different types of litigation. You get a piece of the action excuse me . You can get a piece of the action . You can get a piece of the action. I dont know if you remember, the hang greenberg case as an investor. You can actually invest in these cases. It is not illegal. It the its not necessarily required to disclose it. However in certain cases, in an appeal on this gawker case, there will be a series this will feature. The reason this is probably a good idea, so that little guys dont constantly get overrun by big guys who have the deep pockets and can squish you. It shouldnt matter who is page the legal bills. Thats one view. And there are other views, and were seeing it this this morning, this is about big money. In a way its not necessarily being even driven or motivated by financial gain, if will you, or trying to collect money to pay for damages or pain at this point, corporations have the upper hand because they can squish smaller people and say forget, you cant come after me. Hogan doesnt clearly need the money. He wasnt doing this for the money. A clear Playing Field. Im just suggesting there are now going to be all sorts of questions in an appeal like this. This was a jury award. There were tactical opinions and what i wrote yesterday that nick gawker had his suspicions about this. There are certainly allegations that the hogan team made that were not economically rational things to do. Not wanting to settle and pushing your case. Different than that. For example, there was an Insurance Company, talk about big money, gawker had an Insurance Company that would have paid for parts of the settlement and parts of the defense, depending on the certain types of claims, when, for example, the hulk hogan side realized which claims were protected by the Insurance Company they dropped those claims and went after other ones . They dropped those claims to remove the Insurance Company. Interestingly most lawyers working contingency would never do that because theyre trying to get the money from the Insurance Company that has the deeper pockets. All im saying, there is a sense, depending on how you think about this i think from a broader perspective. Take a step back from the gawker case. From a broader perspective, the idea that you can have someone finance your indicate, because far too often, corporations steamroll then theres a broader conversation about gawker. You want to know who is on the other side of the transaction. Peter thiel is awesome. Libertarian. He says you dont necessarily have to spend all of this money on college. I can understand that being ticked off at being outed, and wanting to exact revenge on that. Hes got as much money that he can say what he wants. When you get to a certain age that you say what you want like your grandparents. Or you get to a certain point with money. Or youre on a show for 25 years anyway, we will continue to talk about this topic, theres a lot more to it by the way, even peter thiels involvement in you love this. You got a little too much speech. Hes on the board of facebook. Theyre having their own freedom of speech issues. Theres lots more to this story. Boarding on tmi on this. Planting a micro shchip in r brain to help prevent memory loss. Seems like the stuff of science fiction. But researchers are working on that to help people with traumatic brain injury. Meg terrell has gault the details when we return. Theres no one road out there. No one surface. No one speed. No one way of driving on each and every road. But there is one car that can conquer them all. The mercedesbenz cclass. Five driving modes let you customize the steering, shift points, and suspension to fit the mood youre in. And the road youre on. The 2016 cclass. Lease the c300 for 359 a month at your local mercedesbenz dealer. When you cook with incredible tokyostingredients. Les. You make incredible meals. Fresh ingredients, stepbystep recipies, delivered to your door for less than nine dollars a meal. Get your first two meals free at blueapron. Com cook. You wouldnt order szechuan without checking the spice level. It really opens the passages. Waiter. Water. So why would you invest without checking brokercheck . Check your broker with brokercheck. The cdc estimates that nearly 1. 7 Million People suffer a traumatic brain injury in the United States each year. One of the most common side effects is memory loss. A new treatment could counteract some of those effects. Meg terrell joins us with a look inside the world of modern medicine. Good morning. These are protos and exciting news. Its all part of president obamas Brain Initiative essentially trying to do what a human g nome did f. And one of the thing as theyre working on is what they call prosthetic memory. Take a look. Declarative memory is how we store information like facts or events. Grocery lists, for example. Those memories are formed in a region of the brain honey as the hippocampus. The ram system is aimed to act like prosthetic memory. It would implant electrodes in the hippocampus. Theyve been wirelessly transmitted externally. It would process information and deliver instructions back if help is needed. Stimulating certain newer trons formulate and crawl memory. So this is actually a system where theyre implanting electrodes into the brain to read the neural signals that are happening forming memories and you could actually have a system to sort of acting as a corrective system this can encourage your memory to work. Do you think it could work in other pathways as well is it the type of thing that would help lee store pathways to remain emotion and movement, too . Theyre looking at this all across the brain in different ways. Helping people feel touch. Helping people control robotic arms. These are stories were rolling out later today, actually