America are piling on mountains of debt. What happens when its time for companies to pay the piper well get some answers on this tuesday, june 11th as Worldwide Exchange begins right now im back hi, from wherever youre watching im Brian Sullivan. Thank you for joining us on this tuesday. It could be a lucky seven for stocks theres a lot of green on the screen, and we can use i another rainy day in new york. Either get another cup of coffee or go back to bed. Dow futures are jurnd under 100. The dow on a sexday win streak. Of course, if we keep this up, it could make it a sevenday the bond yields are ticking up higher the benchmark tenure yield at 2. 16 . Also watch oil Oil Beginning to creep a little bit higher as well were up just under a percent. Also a big night overseas. Not as much in japan the nikkei in japan did rise 3. 1 look at the shanghai come possib posit. And the European Markets like our futures, like asia, a lot of green on that screen as we talked about, germany starting to quietly outperform watch the dax up 1. 1 this morning. Lets talk about this nice little run were in the middle of joining us is art. The day is dismal, the calendar changes. Suddenly the market mood and all of the buying action what exactly has changed you know, its interesting. Weve seen a pivot did we do too much damage and how much of that can we claw back i certainly think over the last six days weve done an efficient job of clawing back. I think what were looking at is not bad as what we priced in and perhaps we need to get back to neutral territory. Weve been talking about corporate debt we go through quiet periods where companies cant buy back in stock were back where they can. Is that part of the thesis where the market falls and sort of support the market i think thats part of it obviously there has been a lot of questions about what the best use of cash is, whether you have cash on the Balance Sheets at these ultra low rates or youre throwing out rates but recently over the last three weeks, theres been a massive amount of cash being put into m a activity thats as important as anything. Youll notice yesterday we have that Large Aerospace and defense deal we have a software deal. I think theres a halo effect to the use of cash in terms of m a activity. You think m a is that stool underneath the market then. It feels like that. They try to look at what is that if youre willing to pay 30 , 40 above stock trading and 80 times ebitda, thats going to change your valuation. That is a going to change in your head. Maybe the dealmakers are being dumb maybe theyre overpaying. Theres a scarcity now. Weve seen that because companies have stayed private or been taken out weve never known them in the Public Markets theres been Something Like 350 artificial intelligencerelated companies taken out that you never heard of. I will say this as welch we talked a little bit about it yesterday. When you look at the pool of stocks over the last number of years, it shrunk it gets smaller. Theyre buying back the stock. The pool of assets shrinks the number grows so everybodys changing a smaller pool of assets that could have a long term floor under this market. Thats such a very good point. Literally we cut the Trading Companies in half of the last ten years. I think thats very important. And yet we still hear people saying we should use the 16 multiple for is s p 500 and over the last ten years t companies are growing their earnings at a much faster rate, so to me i think that augers for slightly higher multiple. So maybe we should change our thinking on what is a fair value or a good historical multiple simply because there were ten buyers going after ten apples. Now theres ten buyers going after five theyre going to bid those apples up. A massive story that not a lot of people are talking about. Right and to the same argument when you think about buybacks, share counts are down. When a valued investor coming up and says, wait a minute. I think its okay to say, yeah, thats right and thats good. Its a very important authority. The shrinking pool of assets we appreciate you coming on. Enjoy the beautiful spring day in new york. Also new this morning, could an obscure federal judge scuttle a 70 billion deal a new report that ccvs health could be in jeopardy. A fed really judge could block cvss deal with aetna. They say the judge is setting the stage to reject the merger on concerns it could reduce competition and raise prices the judge could make his ruling by next month. You might remember that the Justice Department already ok okayoka okayed cvss deal. It would likely go back to the doj for an appeal. They have been one Company Since the deal closed in november. The combined entity is already showing progress toward its goal of course, if this deal was blocked, i dont have to tell you it would be a mess shares of cvs down about 0. 2 . Brian, ill send it back to you. Its getting a lot of attention. Were going to fine out more were just Getting Started on a big tuesday Worldwide Exchange. Up next, lets call this three perfect pairings microsoft and amd teaming up well tell you how people are respond. And apple and broadcast teaming up and bill gates and buffett are getting together in a heartfelt video. First, the consumer lek trom is show in shanghai and our is show in shanghai and our colleague arjun ill tell you how they may have hit a speed bump. G yourself. You need someone to guide you and help you make those tough decisions, thats Morgan Stanley. Theyre industry leaders, but the most important thing is they want to do it the right way. Im really excited to be part of the Morgan Stanley team. Im justin rose. We are Morgan Stanley. We like drip coffee, layovers and waiting on hold. What we dont like is relying on fancy technology for help. Snail mail we were invited to a y2k party. Uh, didnt that happen, like, 20 years ago . Oh, look, karolyn, weve got a mathematician on our hands check it out now you can schedule a callback or reschedule an appointment, even on nights and weekends. Todays xfinity service. Simple. Easy. Awesome. Id rather not. Welcome back and good Tuesday Morning. Stock futures are in the green have you noticed the trend lately the dow in themyle of a sixday win streak if they do it today, that will be seven rows of gains, and that would be the longest win streak in more than a year. Also happening today, some of the latest and greatest ground braking technologies are being unveiled this week at the Asia Consumer Electronics show but despite all that, theres really only one name wall street cares about right now and thats huawei Arjun Kharpal joining us live from the show right now. Arjun. Well, brian, huawei taking front and center stage here in asia one of their top executives took to the stage today and acknowledged the company could be hitting some roadblocks theyre currently number two in the world and they want go become number one, exceed iing h other. It has been developed its own chips. It has been developing its own development and for that reason theres a growing number of reasons that the u. S. Could be detrimental to its own technologys foyes one of those voices is gary shapiro with the group that puts on this show in aza and, of course, in asia as well. I had a chance to talk with him earlier and asked him what huawei could do to china and Americas Technology lets listen to what he has to say. Our concern is this is escalating out of control. When elephants fight, the ground gets chiam pelled. China has a lot of it, u. S. Has it its free trade, people working together the law of comparative advantages i think the u. S. Policy may be really pushing china to do everything by itself and not only put up walls around china, but were putting up an economic fence around the united states. One by area that they could put a lot of money into is chips. Their focus is on technology they want to have 70 of the chips consuming. Thats currently under 20 theyre investing Companies Like huawei are invefgt billions look theres still a long way to go a lot more invest money and talent to catch up with the u. S. And that could take a long time. Back to you. Arjun kharpal in asia well see you tomorrow on deck, hes defending his billiondollar allstock deal for tableau. I have to be honest with you. Tableau didnt want our cash they wanted our equity now, the full conversation with jim is coming up. Plus, bad credit, no credit, no problem at least to amazon what jeff bezos and company have in store that youve got to hear coming up. The first survivor of alzheimers disease is out there. And the Alzheimers Association is going to make it happen. But we wont get there without you. Visit alz. Org to join the fight. It is another rainy day in new york lets get a check on stocks on the move youve got to watch this the dealhungry Company Making its biggest deal ever on monday, offering more than 15 billion for Tableau Software investors didnt love it the stock fell 5 on concerns that salesforce paid too much, but the ceo defended that last night with jim on mad money. I have to be honest with you, jim, tableau didnt want our cash they wanted our equity because they know the real value is in the company were creating together in the ended they wanted our stock. I cant blame them they have a vision for roys possible for the future, and when you look at that, we have a company thats going to go fast. Theyre pulling down slightly today but they chumped more than 30 yesterday. Maybe they did want that sal salesforce stock Apollo Global to take shutterfly apolo is also buying snap fish, another photosharing service that plans to combine with shutterfly and toss the octopus onto the ice in detroit lets complete the hat track shares of broadcom are inked after a deal with apple. Its for smartphones, tablets, and the apple watch. Lets get a check on other headlines. Nbcs phillip mena is in new york with those. Phillip. Good morning. The chopper crashlanded onto the roof of a midtown Manhattan Building blocks away from times square the pilot was killed thangfully nobody else was injured. Big papi is back in boston this morning david ortiz arrived at Massachusetts General Hospital with a Police Escort after being shot in the Dominican Republic the red sox arranged for a jet to bring the slugger back to the states the team honored him with a moment of reflection players and fans paused for a moment of prayer. And mandatory evacuations are under way in Northern California as hundreds of firefighters battle the first blaze of the season. Its called the sand fire. Its scorched more than 2,000 acres. Officials say it started on saturday and right now its just 30 contained. However, strong winds and high temperatures are fueling those flames Utility Company pg e says it had to intention ally shut off power to some 20,000 customers in the airy as a safety measure brian, back to you. Phillip mena in new york, thank you very much. In political news President Trump is headed to iowa to talk energy lets get more on his planned agenda and more with tracie potts whos live in washington with more. Hi, tracie. Hi, everyone. Energy is the topic of the day President Trump says its a secret deal and disagree with that, and hes reacting to whats happening on capitol hill and whats not happening on chile. The democrats got the Justice Department to do a 180 on whether theyre sharing the information behind the Mueller Report todays contempt vote to force the s p for attorney general william barr has been called off for now. The Justice Department cut a lastminute deal with democrats. The department will now comply with the subpoena and allow lawmakers to see evidence of obstruction behind the Mueller Report it happened just hours before democrats brought in a key watergate figure, former Nixon White House lawyer john dean to explain how obstruction works. The Trump Administration is in fast competition with what happened in the nixon administration. The president dismissed dean. Deans been a loser for many years. While explaining a mysterious tweet explaining mexico signed off on a secret agreement deal critics claim theres nothing new. He create as crisis and then acts like he goes on to solve it. That mexico had already agreed months ago to hold migrants on their seed and speed up troops to the guatamalan border. Its got to be enforced to make sure mexico follows through. If not, the secretary of state says tariffs, taxes on mexican goods are still on the table. Now, the trump team put a 90day deadline on this mexico deal but tell us, brian, they think theyll start to see progress in about a month. Well continue to track that for you. Tracitracie, talk about the. Apparently theyre walking that back what do we know, what do we dont know right the president said they cam up with provisions that they need to approve that i dont know anything about it, the secret part of the deal that they alluded to what they know is they agreed to speed up the time line of some of the things they already agreed to months ago, sending the troops to the guatamalan border expanding the program, that they agreed to to hold detainees on their side or migrants on their side of the border while they were requesting asylum here in the united states. What they did not agree to was the Third Party Agreement where people in Central America would have to stop and request asigh bum before getting to the u. S. Border. Maybe its so secret one side doesnt even know. Thats a secret. Thank you very much. Still to come, in the world of easy money and Interest Rate cuts, bad Economic News usually means good news for stocks thats a hat tip to the fed. But according to our next guest, nothing should be further from the that slacking off, significant slowdown of sales of one of the most hot ipos of the year. Kirk and spot, fred and barney, laverne and shirley, buffett and gates . The millionaire bromance thats got everyone talking, bra. Well talk about that next w . W . Uo going for seven. The dow on its longest win streak in more than a year were going to find out what exactly has been drawing the markets higher. Debt threat. U. S. Companies piling on the debt as Interest Rates item about. Could it all backfire . The weeklong series and the rate shock continues. And good news foryour wallet gasoline prices are down well find out how much it will cost to fill up your tank on this tuesday, june 11th, as youre watching Worldwide Exchange right here on cnbc. Welcome back and thanks for being with us here on cnbc, everybody. Im Brian Sullivan good Tuesday Morning lets kick off this half hour and kick off the morning headlines. Heres whats leading cnbc. Com the messaging service says it expects Revenue Growth to slow in the coming quarters its expected to make its debut in the coming Months Microsoft previewing its streaming service in project x cloud at the annual e3 convenient theyll stream the series right to their mobile devices. Microsoft teases its newest consol microsoft scarscarlet it will use amd chips no surprise. Up almost half a percent and shares of devices up about 1. 3 and as brian alluded to, good news for commuters prices continuing to pump. The average down 2 cents to 2. 73, thats a full 19 cents cheaper than this time last year, brian, as you well know. Thank you well see you in a minute. It looks like thats what were going to do. You know whats interesting about the futures, guys, and weve talked about this for a couple of weeks. For whatever reason, the futures used to stay the same. Youd come on at 5 00 a. M. And theyd hover around the same weve seen futures start to move a lot more than they have, and, indeed, thats whats happened were up 130 points right now in the middle of a sixday win streak, the longest streak in more than a year, coming off the best week for stocks bond yields are ticking up but a little bit theyre still very low at 2. 16 . Overnight in asia, the chinese market, whether or not its their Stimulus Program or optimism about a trade deal, who knows. But the shanghai composite up, 2. 6 if you see a trend, you can spot it because the European Market is doing the same thing. Its been kind of a quiet, dont tell anything, performer the german dax up 1. 3 may is dismal. June is great. Whats happened . I guess its bad news is good news because the feds in play i get that theme weve had it for years, but im trying to figure out what the bad news would be that would make it good news that thats an excellent question i think it depends on whether or not were headed into an economic recession i think its important to differentiate between the two. Right now the consumer remains very strong. The most recent jobs report meeting was a little soft. They had held up quite well. The area where theyre cautious is around the industrial part of the economy. The Economic Data tends to lag by four to six months. So we get data thats weaker than expected. One wonders if were in that rolling downtourn. What do you think . I dont think were actually going to see a recession like i said, the consumer remains quite healthier but the invests need to look at where theyre at do you want to be in stocks with a high degree of sensitivity. Do you . No. I think the answer is no do you want to be in banks if lenning volu ip lending volumes are soft you should focus more on areas like technologies, communications, where the success of those businesses are driven by themselves and less reliant on the economy. So youre saying those are not economically sensitive theyve got be somewhat. When i talk about technology, im looking at the software and less at the semiconductor space. There is that school of thought if things weaken, Companies Invest their available cash in software because theyre trying to do that which means cutting people in favor of software. Absolutely. Weve seen Companies Continue to invest in capex, but theyre going more toward equipment and software so absolute. Theres still a definite demand for that suite of products. Listen. We make a big deal about the jobs numbers on the Network Every month, so i dont want to throw cold water on the ice bucket challenge but that seems to have been so volatile they came in weak and revised it up next month. How much do you look at that i think its best to keep the jobs report in contrast with what the trend has been. Another piece of data, not at the data. Exactly this is the First Reading of the jobs report that looks soft. I think its important the readings were quite healthy and we got the jolt data yesterday. My favorite report. Yep and it Shows Companies still have tons of available openings and people are willing to swap out and go to more higher paying jobs or different jobs tlfls still vibrancy in the jobs market the most recent was that. We do this thing called the rbi. Its data that i hope you hear because it dives into that number, which may cast doubt on this weakening economy look forward to the rbi. A big downgrade just crossing, and it is on this years hottest stock jpmorgan moments ago downgrading beyond meat. Just last friday, jpmorgan raised their target. At the time they said, quote, at some point it will be priced in. Well, today moments ago in that note, jpmorgan said, folks, that day has arrived. Beyond meat is at 164, down 2 in the premarket, but literally, that downgrade of beyond meat to a neutral, not a sell, crossed moments ago. I have a feeling you might hear more about that stock and that call on the network. Just wild speculation on my part. Time for this mornings top trending stories rahal solomon, what are we going to be talking . Amazon is partnering with credit builter which will lend to shoppers with no credit or bad credit it will require customers to put up the bans for the credit line and make payments. When the account is closed they get their initial credit back. Theyll get 5 back on amazon purchases and can graduate to the amazon credit card after building up their credit. What do you think theres certainly a market. Nothing amazon does is surprising at this point theyre going to try a lot of st doesnt well see what happens. Canadian Prime MinisterJustin Trudeau has announced canada will ban harmful singleuse products. Its modeled on a similar in,ive last year by the eu. They will establish targets for companies that manufacture and sell plastics to be responsible for plastic waste. Currently less than 10 of plastic used in canada gets recycled, which i found shocking. Whatever side of the argument youre on, it was a great idea i was at a coffee shop in laup last year. Do you know what they use for straws whats that. Long piece of uncooked pasta. Really. Did that mess up the taste no. It was basically a piece of penne pasta. Its natural biodegrades and didnt tweak the taste. Sometimes the metal straw is a little funky you dont know if youre cleaning it quite as well as you should. Billionaires may not be like us but they have friends like us bill gates put out a Video Tribute to his bff, warren buffett. Thank you for being a friend traveled down the road and back again okay. Hes pulling together times with buffett in omaha they show the pair sharing a shift at a dairy queen, driving a golf cart, playing video games. How adorbs. Adorbs rngs not even adorable. Adorbs. In sports a dramatic night for golden state in toronto. They did win last night but warriors superstar kevin durant who returned after a lengthy calf injury looks look he injured or maybe even tore his achilles in the Second Quarter he had to leave the game hes going to get an mri later on today everybody hoping for the best. A lot of knicks fans looking at him coming to the east well wish him the best. Meantime the warriors, down six. Kyle lowrys threepoenl attempt. They held off. Game six will be in oakland on thursday at 9 00 p. M. Eastern time it will be the final game at that arena in oakland. All right. Coming up, Big Technology headed to capitol hill has called for regulations heating up President Trump weighing in on the issue on cnbc yesterday. So i think its a bad situation, but obviously there is something going on in terms of monopoly. All right. But first the latest installment in our special series rate shock. Were diving in to how falling bond yields have companies piling on the debt, and theres a Lehman Brothers reference in here youve got to hear it, and its next unpredictable crohns symptoms following you . For adults with moderately to severely active crohns disease, stelara® works differently. Studies showed relief and remission, with dosing every 8 weeks. Stelara® may lower your ability to fight infections and may increase your risk of infections and cancer. Some serious infections require hospitalization. Before treatment, get tested for tb. Tell your doctor if you have an infection or flulike symptoms or sores, have had cancer, or develop new skin growths, or if anyone in your house needs or recently had a vaccine. Alert your doctor of new or worsening problems, including headaches, seizures, confusion and vision problems. These may be signs of a rare, potentially fatal brain condition. Some serious allergic reactions and lung inflammation can occur. Talk to your doctor today, and learn how janssen can help you explore cost support options. Remission can start with stelara®. Withing back and good Tuesday Morning. Lets continue our weeklong series operate shock right now were going to look a low rates anned hue theyre pushing on companies to pile on debt, a lot of debt. Mike santoli with those numbers. Corporate america has been on a decadeslong borrowing binge and its interesting to see why. Investors have an insatiable appetite for corporate debt. Businesses have racked up nearly 10 trillion in debt thafts up 50 before the Global Financial crisis corporate debt is now a record 47 of record gps. If recession saps corporate ability. A recent get report cites this risk but points out its near the longterm average and cash flow far exceeds interest expense. For now corporate debt remains a looming threat that isnt yet an urgent threat for investors buld could become an economic factor with any stumble to come. Debt has to be repaid theory rhett hickly what happens when the bill comes due. I mean the debt levels, its like a rugby game at a lobl golden corral. I understand mikes point about how profits and debt levels are about influx, but profits can go down. Yes. Are you worried about debt levels right now, peter . I am. In particular micks piece is great. There are two ways to look at it stock and flow Interest Rates are so low and have been managed so low by Central Banks. Now, the markets are obviously helping the sovereign rate markets right now because the worry of recession is keeping rates lower still, likely forcing the fed to cut but whats interesting about that, theres a bit of a conundrum. Rates continue to stay low, Companies Continue to boor rorr which tightens the band. So the recession to me is a 2020 risk, an given the level of debt, especially corporate debt in the loan market in particular, im a bit concerned. Will that force the feds to keep the rates low for a long time. Yeah. I think thats the trajectory. They cant do it because they cant risk a bunch of blowups on a lot of this debt, which, by the way, a bunch of it is junk or close to junk. In the loan market in particular, i keep referencing it, leverage is very high. The guidance had been for six times deals in the levered loan market and theyre being done much closer to eight times now the size of the market has grown considerably its about a trillion dollars. Thats all of commercial and industrial lending that doesnt include the shadow. The loan market is where my biggest concern lies the a percentage of this, a percentage of that are higher now than they were prefinancial cry circumstance but, rates are lower. Yes. And cash flows are up so do we need to worry about these prelehman references . Well, you know, we tend toward hyperbole at times when trying to make a point, but i think one believes that there are still economic cycles, which im a believer of. I think there are natural ebbs and flows. Notwithstanding what Central Banks do then i think we do need to be concerned about debt levels and especially at the corporate level. By the way, lending standards have tightened, which shows you banks are becoming more concerned about the billions and our viewers may not care about corporate debt, but they might care about stocks. And one thing theyve been talking about is Companies Selling debt the pool continues to shrink. Yes. Thats a bull case for equities its a bull case for equities. Whether its fund mentally good, i dont know when theyre chasing a smatter pool of assets, the assets tend to go up in price. The buybacks as you mentioned are fueled by debt, by the credit market. So the bull case is intact as long as theyre functioning correctly. But i also think its a bit of a secular trend. That pool has been shrinking for 15 or 20 years, so i agree with you. Thats a bold case for stocks. Notwithstanding the economic cycles that i think were going to see no matter what happens. It will be a big story when the cycle turns and i think it will turn. Peter, great stuff that eng you for joining us. On deck, a big reality check. Congressional hearings kicking off today. Will facebook, google, internet dominance come back to bite them blue, the one jobs number that nobody else is talking about its your morng inrbi, and its going to jolt you, we promise. The first survivor of alzheimers disease is out there. And the Alzheimers Association is going to make it happen. But we wont get there without you. Visit alz. Org to join the fight. When we change policies, we dont want to say, hey, lets take it down we need to have consistent policies we have thousands of reviewers across the globe we need to make sure that were providing consistency. That was youtube ceo speak at a code conference out west the Parent Company alphabet, google like other technologies have come under fire for a wide range offishes including whether theyre monopolies now congress is demanding answers in the first of a series of antitrust series joining us now is Alexandra Levine thanks for joining us. Whats going to happen on capitol hill, whos under fire and whos asking the questions thank you, brian. The house subcommittee is hearing the first of several congressional the first of several congressional hearings on antitrust concerns on big tech focusing on how its affecting journalism the question is big tech becoming too powerful and too big to the exten its harming the news industry, and anybody using a smartphone can see that via facebook feed, via apple news, google search, these Big Tech Companies are distributing enormous amounts of news every day, and that is not new whats now, until rekrnlly theres been little scrutiny on what that financial relationship has been between the plat forl and the publisher looks like, and the picture that has emerged is one where google and facebook, it kofts google and facebook very little to distribute all of this news content, and at the same time, theyre dominating the ad market google and facebook taken together control a majority of u. S. Online ad revenue. Ill tell you what. Im on my phone yesterday. I googled the story about the four seasons restaurant shutting down in new york and when you do it i dont know if its hard to see. The wall street journal story is there but the link at the top is a google link and youve got to dig through to get to the actual wall street journal link if i was to send it to you, id be sending a google link is this the kind of stuff that theyre ticked off about thats exactly one of the main concerns. One of the groups testifying today is called the News Media Alliance and its a trade group that represents 2,000 trade groups and news outlets across the states and canada. Just a couple of days ago the news media rae leased a stunning report, brian, that outlining exactly what that financial relationship or financial dynamic between the publisher looks like, and what the report said was google last year alone made some 4. 7 billion just via search and google news from content from news publishers and that number was particularly striking when taken alongside that the news industry pulled in slightly more than that. And now, of course, google in the last 24 hours has come out with scathing criticism saying there are inaccuracies, holes in it, and, of course, the report does not take into account all the good that google and these other big tech platforms are doing in driving platforms but the question remains that lawmakers want to reexamine this financial relationship. You want to drive the traffic, not have it on the search page. Alexandra levine, im sure were going to hear from you soon because this is going to go on for a long time. Absolutely. Thank you, brian. The dow industrials are up six days in a row. Today could be seven dow futures up 131 points right now. This is and could be and extend the longest winning streak in nr than a year. But as always, weve got to ask. What could go wrong. Junes been beautiful, michael to what do we attribute it is it long or are there green shoots that are starting to pop up in spring. Where are the green shoots popping up i think one of the things thats really striking about the condition right now is the equity market has been extremely diverged if you will from the treasury market. I think that divergence is a little bit what youre seeing on the screen right now where bond yields are rising up and equi equities ared by and so i think the question in the back of everyones mind is which market is more right. The bond market or equity market. Can they both be right . Both be wrong . I would say both are wrong actually treasuries were overbid. If im a Sovereign Wealth Fund in norway im just making that up and im looking at a negative debt on german yield, why would i buy that. Its not necessarily an indication that were going to be that depressed next year, right . Look 120 basispoint move in tseven months is irrelevant vow have this debt crisis and buying bunds racing tion ales. The market see, from my little perch here, the markets seem to be acting erratically. And i wonder if that should make us anxious we go up, up, up, up, were moving in these weird cycles now, which i dont know if its e t etfs or index funds. Theres a smell test. Its the nature of how volatility is expressed. Every bull market is in time what we see is these extremely sharp vshaped corrections where out of the blue, you know, the marketing getting smacked. 4 , 7 , 8 and rather than consolidating and bouncing around, it sort of vs right back and confuses people even more as you said, we saw that in may, right . This vicious v. The question is this broader risk on rally since december, you kind of want to feel a little bit look it has a more comfortable floor thats a little more stress tested where it goes down a little more. Dow futures up 130 right now, michael another v coming thank as lot. You bet. Time for your tuesday rbi today its about jobs. While we talked about it earlier, the monthly skrobs number gets all the attention like last friday that number could be all over the map. Instead you should watch job openings it. Measuring how many jobs are open, how many are quitting, how many are getting hire. Heres the good news the number of people getting hired is soaring the industries wherer people are getting hired are also ones that rely on a good economy construction, hotels, hospitality. So either those centers very overbuilding or overhiring which they even done in the past or theres a lot of optimism with those making business investments. Watch the j. O. L. T. S. Well see you tomorrow squawk box is next good morning bulls on parade. Tech, though, under Fire Congress launching a review of silicon vlys numbers. Plus, investors who have lost big betting on a hot ipo. Its tuesday, june 11th. Squawk box starts right now. Eat more chicken announcer live from new york where business never sleeps, this is squawk box. Good morning, everybody welcome to squawk box on cnbc. Were live from the market site in times square. Im becky quick along with joe dow indicates up by 126 points its now been six days in a row weve seen the dow close higher. Thats the longest winning streak weve seen in 13 months s p 500 is up. 15th day in a row. Its up another 15 points. The nasdaq up by 62 points its been up five sessions in a row too. Take a look at roy happened overnight in asia. Youre going to see the nikkei was up by a third of a percent the hang seng up by thr threequarters and shanghai up about