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Also raised. Very interesting cutting edge, well talk about that. An fda panel backed an experimental Breast Cancer drug. Shares of the company soaring, it was up 50 on monday in anticipation of this. The news came out now, another 26 . Meg tirrell will have details in a little while. Puma is good jumpers, we know theyre fast and can get up a tree. The name of the km is puma biotech, not a totally nonsec ter. Treasury secretary mnuchen making comments on the debt ceiling. Reporter thats right, he was testifying before the house ways and Means Committee and called on lawmakers to raise the debt ceiling before the august recess. I urge you to raise the debt limit before you leave for the summer. It is absolutely critical that where we spent money, that we keep the credit of the United States as the most critical issue. Repo ....
Bullard told cnbc about a potential june hike. Obviously weve tried to be data dependent, and i dont think theres any reason to prejudge the june meeting at this point. We can wait until we get to the meeting, see what the data say and try to make a good decision there. I think on the issue of press conferences we have made many moves over the years without press conferences, so i think you could make a move without a press conference in this circumstance. The labor market data, as i said, if you just took your signal from that, wed definitely move, i think. As a reminder, june is scheduled to have a presser, july is not. Says were at or beyond full employment, jim. Right. Now, he had wavered last time because he felt if oil went to 20 then he would be a lot less willing to hike. Obviously oil went the opposite way, so i think he goes the opposite way. And i think hes being very considered, making good judgments. Yeah, if the numbers continue to be this strong, yesterdays number from < ....
On squawk street, and this is squawk alley live. Good Tuesday Morning and welcome to squawk alley. Kayla tausche and me at post nine with jon fortt and jason calcaneus joining us as well. And now, our best ever day in china, and we have details with susan at hq. Yes, lets go to hung cho, china where the alibaba is projkting to grow 30 this year, which is some different from the projections of the and analysts. There was an overarching event of the company, and to him, alibaba is no longer a marketplace to sell goods according to the ceo jack ma. We want to have the collective datas are from the consumers and the datas are from the business. Yes, so data is very important to him, and, yeah, basically he is developing the cloud likem amazon and break out in the future, and you know the four major areas for alibaba, the cloud, marketplace, and what they are calling the mobile media and entertainment, and innovations technology, and ....
Trying to figure out whether tech could ignite the way so many other groups have. Weve seen energy come off its lows. Utilities, the Real Estate Investment trust, homerelated stocks. Lately tech has been threatening to break out despite the largest, better known stocks. Some select Fast Growing Technology stocks themselves. But it was today that really clinched it for me. Microsofts 26. 2 billion acquisition for 196 per share. A 49. 5 premium, where it went out friday. Made up my mind for me. Tech is back and it is back in a big way. That makes me feel like the oilrelated decline we had today. It is giving us some excellent buying opportunities. This is fabulous news for the market. Tech represents over 18 of the s p 500. With the exception of a few high profile names, it has been in the doldrum for ages. Lincoln is one of those companies, the social net work ....
Vote in the European Union makes you numb. Were dealing with total overload at this point. We have prominent rich people that dont care about stocks. We have Hedge Fund Managers talking about how the pound sterling will crash. We have wall to wall coverage of this event in every periodical. More than i can recall when portugal, ireland, italy, greece and spain were about to go belly up a few years ago. I think theres a real possibility we could be taking something that isnt a big deal. At least most certainly for the u. S. And turning it into one. If major countries had truly defaulted during the euro crisis a few years ago i think we could have seen a collapse of the western world. This issue again could easily have rivaled the panic of 20082009 in our country. Im choosing not to worry as much precisely because everyone else is. It will be my job to recommend the stocks ....