Allowing the sale of fake goods. Tim cook urged graduating seniors at George Washington university to fight injustice. The sidelines are not where you want to live your life here be world needs you in the arena. Russian president Vladimir Putin showed off his ice hockey skills. He played in a match as part of celebrations marking the 70th anniversary of world war ii. He notched an impressive eight goals. [cheering] erik now for some other news making headlines. A number of deals. Another big takeover in pharmaceuticals. And a pharmaceutical Endo International will by par pharmaceutical. Here is another deal in the retail industry. Ascena retail will buy and taylor for about 2. 1 billion dollars. That is a 21 premium to fridays closing price. Just barnes is one of its brands. Stephanie a favorite. The Islamic State now took over a city about 60 miles from baghdad, ramadi. They overran Security Forces and raised the black flag in triumph. Thousands fled the city and there have been reports of civilian massacres. Iraqi forces supported by the u. S. Led airstrikes. In waco, texas, a shootout between members of rival motorcycle gangs. They opened fire at a popular restaurant. Nine were killed, all gang members. Another 18 were injured. Police were already at the restaurant when they shoot out the game. They said they shot a number of armed bankers acres. Bikers. Erik the Pitch Perfect sequel is singing right onto in. This was the followup to the hit about an all girls a cappella group. The reboot of the 1980s hit that brought mel gibson to stardom, mad max. Stephanie i do not think that you can reboot it. Erik i think holly could i think hollywood is out of ideas. Stephanie look at what disney has done. People are taking a page out of bobby eggers book. It seems to work to remake things. Low risk, big returns. Erik low risk does not make me excited. We want to give you five things you need to know. Number one, greece. Greek shares and bonds are after reports greek came greece came close to missing a payment to the imf. Greece hopes to reach a deal by friday with the creditors. All of a sudden, greece is back on the front burner. We will talk to hans nichols about this stephanie was a really on the back burner . Erik it seemed like greece was just bumping along. Now there are bigger payments in july and august, and there are questions about is greece can make its next payment in june. Plus greek banks are running short of the collateral they need to post to the central bank to remain leg late liquid. Stephanie is that breaks down, houston, we have a problem. Oil trading at around 60, extending gains after reports the Islamic State took control of ramadi, the capital of iraqs largest province. 60 dollars is where it has been hanging the last week or so. When i was at the commodities conference, a lot of people were saying around this range, i think we are going to hang. But citibank said that oil could go down to 20 a barrel. Certainly not where we are now. Erik perhaps. We are underscoring the idea that in a different world and time, the Islamic State taking ramadi could have sent oil on it take rally. Not anymore. Stephanie we bring in our friend julie hyman know she has number three. Julie it is not just greek bonds. European bonds overall. Italys 10 year bonds rising for the first time in three years. In the u. S. , we are not having a tumble in treasury prices, but there is a positive and some of the action we saw last. A lot of it comes back to greece and the perceptions on the effect it has on the effect it could have on the eurozone. Stephanie guess what i have. Number four. The dollar is trading stronger this morning against every single major currency. It is climbing from a fourmonth low ahead of a is the week for u. S. Economic data. We will talk so much about retail data this week. Many retailers have been affected by the strong dollar. Many people say it will be good for the u. S. Consumer, what we do not see that Consumer Spending much. Erik the dollar has reversed its declined slightly, but if you look at a chart, it is way down from the deke it reached in midmarch. Number five, remarks from charles evans, a Voting Member of the federal market committee. He says the fed needs to hold off raising Interest Rates until early 2016. He has not been among those pounding the tables for those wanting an increase in june or july, so this is no surprise. The backdrop is constantly shifting. You always have to reevaluate the remarks in current economic conditions. Conditions now are not so great. More are coming around to his view stephanie more people are coming around saying if you look at u. S. Economic data, it is not that great. But leaving Interest Rates this low for this long has its own set of problems. Erik sure but put yourself in the position of someone on the fomc. You may be worried about economic distortions, but there is little signs the economy is picking up steam. There is no inflation we can see, or very little stephanie lets just leave Interest Rates where they are, let asset prices rise, let Money Managers and professional investors make more money while the regular consumer is not affected. Okiedoke. Turning back now to greece. I want to bring in our International Correspondent, hans nichols. Tell us what has happened. We had a greek Government Official deny reports, deny the fact that greece is considering a cyprusstyle bailout. There has not been any public talk about a bail in. The idea that this week Government Official is denying a bail and has spooked markets. The 10 year up. That is on the bad news. The medium side, the Eu Commissioner for the economy was speaking in berlin. He said some progress is being made, but he cautions there is a lot more work to be done and there are still big issues with tension and labor reforms. What are the red lines for and the troubling thought is that may be to tsipras is not in control of his party. A Leftwing Party will hold a meeting to decide their red lines. Mr. Tsipras may be the politicians that one wants to interact with. Erik i would like to focus on the spanish economy minister. He was speaking saying that greece has no room left to maneuver. The reason i bring him up is to harken back to our coverage in january and february, where they emerged as the hardliner in the backroom discussions with the greek government. Hans i do not want to say he has a vested interest, but he wants this bailout on track. In spain the government does not want to collapse. They see any inch they give to the great government is a possible opening for their own government. So he has been one of the hardliners. If we do this on a spectrum, it is the Eu Commission that most once a deal. Then you have the 18 19 finance ministers, 19 if you count greece. It may be the International Monetary fund. They may be driving the hardest argan. Of the 17 point 2 billion euros still left, 3. 6 billion is controlled by the imf. You need to bring Christine Lagarde along. Stephanie how likely is that to be the case, bringing Christine Lagarde on board . Hans she has been pretty hard. The latest report out of what her leaders are telling her, her contract group, is that greece needs to fulfill the program. It gets back to what does that mean . Labor and pension reforms. Every time you hear a syriza politician, they always say pension and labor reforms are nonnegotiable. That seems to be an issue. Stephanie thank you for joining us. Our International Correspondent hans nichols. Erik next up, we hear from mary barra, gms ceo on chevys new camarro. Julie welcome to Market Makers. Update on deals and potential deals. Buyout talks between intel and all terra have resumed according to the washington post. Altera already rejected an offer from last month according to people familiar to negotiations at the time. But their shares are up 6. 5 this morning. Then there is the done deal. Ascena retail buying and taylor for about 2. 6 billion. It is 21 higher than anns closed friday. Ann shares rising. Erik thank you. Another look at some of the top headlines. Airlines are expecting a Record Number of passengers this summer because of an improving economy. Airlines for america predicts u. S. Carriers will fly 222 million passengers from june through august. It would be the record from 2007. A marine corps osprey made a hard landing in hawaii killing eight killing a marine and hurting 21 other people. The vehicle was almost scrapped for years ago after failed test flights. The parent of gucci and has filed suit in u. S. Federal court against alibaba, claiming they proffer from selling fake merchandise. The Parent Company withdrew last year after alibaba agreed to stop the sale of fake goods. Erik stephanie General Motors released a new camaro. Matt was there with a front row. Camaro outsold fords iconic mustang the last four years in a row, but ford has gotten a real head start. Matt got an exclusive first look at the car with gm ceo mary barra. I especially like this because i am from the garden state. In my High School Years matt this is an important car in your history. For mary barra, the camaro really matters. When i first met her, i asked her about the corvette. The c7 was you out. She said she was interested in the bu 28. She first wanted a pontiac firebird, the sister car of the camaro, kind of. This is the brandnew, six generation camaro. I to get out with a few laps in detroit. Impressive. I like the fifth generation, but it felt heavy and difficult to see out of. Though the rear visibility has not changed much, this felt more nimble. I like the transition transmission better. Erik witted mary barra have to say . Matt i talked to her a long time about the camaro by also wanted to talk about other things because i just read road to power, which is good if you want insight into mary barra. She is really into Silicon Valley having studied at stanford. She wants to bring tech to destroy it. She put 1 billion into the detroit tech center. Ima big believer in stem education. There is already a war on talent in some fields. It is important to encourage middle schoolers to make sure they pursue math and science. For us to have stateoftheart facilities and the way we do work, it is important we get the best and brightest working on our products. Matt she is very into technology, evidence at General Motors. Onstar one of the first time to put gps to use for civilians and it became popular. A lot of technology gm has they do not tout much. Feel economy, they have cylinder deactivation. If youre cruising and an eight cylinder car but going at 60 miles per hour, it will shut off for cylinder so you get 30 miles per gallon. It is amazing. Erik why is the camaro so important to gm . Matt the camaro we talk about halo cars. I do not know what they make erik i had recent experience in the Third Generation camaro. Matt we have a picture of your red convertible. You were impressed stephanie was that when youre going down Northern California recently . Erik what better ride. Matt i noted you did not love the interior. They have read done it. But they have such incredible detail. You had white seats. They cannot do that because genes rub off on them and people think they are dirty. They came up with a special kind of leather to deal with that. The camaro is one of the performance cars. The bestselling one in america. Erik better than the mustang . Matt until this year. Gm owns that market. They have 20 of the u. S. Performance car market. That kind of technology travels down to the other cars you or i buy. Listen to what mark royce told me. Our technology before leo develops around the track and these cars. You see the cars all the way through the topoftheline corvettes will have technology we developed. It is very important to our dna. Matt that is at least one excuse for making a con us a ton of performance cars. They have eight cars with over 400 horsepower. There are a ton of car guys and gals. Mary was very excited. Stephanie you think mary likes being called a car gal . Matt would you call her a car women . That is not run roll off the tongue. Car lady sounds antiquated. Girl, she obvious he is not. Stephanie i would color ceo and leave it at that. Erik matthew, thank you. Our own matt miller with exclusive stuff from mary barra. Oil back at 60. When we return. a record run of weekly gains. It is the longest weekly street of gains and at least 30 years. Could the rally in oil get long in the tooth . Here it is bob from cme. Good to talk to you, as always. How are you . Julie i am doing all right for a monday. What do you see here, given the supply demand dynamic have not changed that fundamentally. Will we see this runup in oil . They have not really changed. That is one of the reasons why your comment about the rally getting long into the is accurate. I have been looking at possibly 66 dollars. Oil going into the 70s now seems to be completely geopolitical. With isis moving into ramadi and the spike overnight. The Oil Supply Glut has not changed. Saudi arabia pumping at Record Numbers. They talk about pulling back but that seems like an empty promise. You want it looks like bees slumped in rig counts may be bottoming. You have devon occidental and chesapeake raising the output guidance. The rally may have found a cap somewhere in this mid66 level. It includes a short of any acceleration of geopolitical problems. Julie when you talk about those problems even that move of isis into ramadi, it is not a huge movement, right . We are not seeing multiple percentage gains in oil on that news. Even if we get various conflict points around the world, how much of a boost with that give to oil . Bob very temporary. I do not think you see problems from that region, short of closing the straight. This is a market that will be in bear territory for a long time. When you have the demand from the summer driving season though it looks much lower than 2012, we have refineries pumping at record level. Refineries are producing crude oil products at the highest level since 2010. You see a potential product but now glut now which could help the economy globally. What we are seeing now, the market is giving us the price where shale makes sense. They show us that price where shale makes sense. It looks like where we are at now. You look at where we are longterm, you have the julie it sounds like what you described is a sideways scenario. Is the price of shale, supply demand dynamic staying the same will we see Much Movement up or down at this point . Bob that is what i think. I think the rally is cap at this point. The sideways movement over the summer seems to make sense. Supply and demand is not changing in the short term, but in the long term, we have demand destruction. People think that is it is things like tesla and the leaf. That is on a train that cannot be stopped. The Global Supply glut cannot be stopped. North american producers have seen a 20 to 30 decline in servicing. There is no stop assuming no stopping that train of the supply glut in crude. Julie bob iaccino thank you for talking about the oil prices. Stephanie thank you julie hyman. We take a look at the top headlines. Call of the consolation prize for Endo International. They agreed to by par pharmaceutical in a deal valued at about eight alien dollars. 8 billion. Endo lost a bidding war two weeks ago. Charles evans is in no rush to raise Interest Rates, speaking in stockholm. He said inflation is way below the fed target, so great should stay near zero. And this a forecast, i think the committee should refrain from raising the shortterm Interest Rate until there is much greater confidence that inflation will be at our 2 inflation target. I see no compelling reason to be in a hurry to tighten financial conditions before then. Stephanie the senate has said it will wait until it is confident inflation will rise to the 2 level. Amtrak trains are rolling again from philadelphia to new york city. The fbi is entering the investigation and agents are looking into reports that something hit the windshield moments before it derailed. Gas prices are surging just in time for the peak driving season. The average price for a gallon jumped . 22 and the survey points out this is . 93 lower than a year ago. Coming up here john mark will join us to discuss the importance of the apple watch and the companys partnership with bugatti. Julie did you catch the finale of madmen men . If you are watching you better bring snickers with you. Good morning once again there are some big calls from the street having a big impact on the markets. Scarlet lets start with yelp. Yelp was downgraded to neutral from overweight. This is a little bit of catchup. The yelp share price has not been at 70 since last october. This has to do with yelp looking for a buyer. They look for a takeover or id buyer. According to gene munster, a takeout is already priced into the shares and a downside is 38 if a deal doesnt happen. Any guesses on who might be acquired . Facebook potentially, and priceline. What about google . Google was not mentioned. Stephanie when you google a restaurant or a store yelp is the first listing that you get my always think of google and yelp. To be honest i am not a big yelp user. I am down on yelp, too. That is where i bookmarked the wild boar. I am not a yelp person. Even at 46, down from 70, yelp is trading at 337 times 2015 expected earnings. Scarlet maybe you do need a buyer like google which has tons of cash. Stephanie what do i know about people getting yelp reviews . Nada. Thats my point. Scarlet when someone writes