Hillary clinton went after donald trump today, this as we get surprising details about Trumps Campaign finances we have all that coming up for you. And also a read on the economy. Well tell you what to expect from fedex, adobe, and k. B. Holmes coming up. A good crosssection of industries there. Very good. To see whats going on. Lets begin with Janet Yellens testimony on capitol hill this morning on the economy. You saw it live on cnbc this morning. Steve liesman has the key takeaways. Guess who talked about brexit. She didnt say the word but she talked about it. She emphasized the uncertainty over the brexit this thursday, the recent slowdown in job growth, and Global Economic weakness. A uk vote to exit the European Union could have significant economic repercussions. For all of these reasons, the commission is closely monitoring Global Economic and financial developments and their implications for domestic Economic Activity with markets and inflation. Ubs said overall the testimony is, quote a reminder that shes gotten cold feet about the pace and policy formation. They still see two hike this year. They think the economy will overcome these challenges suggesting the job market could pick up momentum from here. There was a suggestion that one takeaway from yellens testimony that its the chair whos looking to raise once this year unless theres a market turnaround in the economy. Steve, thats what people were looking for. Is there any way shell try to get the odds back up to 5050 for a rate hike . I dont hear it, kelly. Youre absolutely right to ask that as a question. Thats the first thing you ask as a reporter. Thats why all the stuff about we could raise in june a month ago . Thats why it was so important. Were not hearing that from her. The policy on hold and then give us a call then. And that may be after the summer. There were questions last week after the fed meeting about the feds credibility, whether it had been damaged. Do you think she did anything to restore that . Do you think she felt the need to address that . I dont think she did that, bill. The idea is that one jobs report or this slowdown could really change what is essentially a longterm policy tool is. There a way too step back. They didnt get into this idea of rulesbased which is something they supported before, but the case intensitier for it now. The idea that the fed has changed so dramatically, it came up once but really wasnt followed up on unfortunately. Well hear more from her tomorrow. I have to point that out. Tomorrow could be a little more fireworks, maybe the house a little more political, a little more strong in their feelings about fed policy could make it a different kind of day. Well see. And thank you, steve, for now. Our steve liesman. Now to the other big overhang. Wilfred frost is live for us in london. Whats the latest . You cant move without hearing the word brexit. Its that times ten for me here in london. Ive got the london Evening Standard hot off the press. It says at the top, goes head to head aztecs reject brexit. Interesting, though, of course, the picture focused david beckham. Theres a sense that all the politicians have said what they have said and now theyre making up their own minds. I was out and about today trying to talk to some voters, one particularly special group asking them if theyre going to vote and what their main issues are thats making them decide which way to go. One is that the group had voted. I asked her which way shes voted. Out, im afraid. And the main reason . Dont be afraid. Im not afraid, but im still almost undecided in having to make a decision and get it posted off. I had to decide one way or the other. I could have voted either way. I really have been so sickened by the grotesque bullying and brow beating of the remain campaign. Do you know . Im undecided, but i know you think im boarish, but im thinking theyre both out. I mentioned earlier that some of the politicians may be not getting all the focus now. I want to get back to the polls. David cameron was speaking earlier today in front of 10 downing street. Thats when the pound fell significantly. Not because of what he was saying but a poll came out and said what we have been suggesting the last few days, a little bit of a brexit. The markets are focused on each poll and im sure they will be over the next 24 hours. Its so much what the politicians are saying. Its what the people are expecting the voters to do, particularly undecided. Were just over a day away and theyre hardening up their views as we i think its going to be very close, and its anyones guess at this stage. The markets will keep moving whenever we get a poll. Thank you, will fred. That means it could stretch on through the wee hours of the neat and even for us. There are plenty getting results in around 2 00 a. M. A significant portion around 3 00 a. M. And then 4 00 a. M. London time. Well be around for a while. I bet those ladies loved will, dont you think . Hes such a nice boy. Oh, my gosh. That was awesome. Look at that. They just love him. Theyll answer any question he has. Joining our closing bell exchange, we have Stephen Guilfoyle ladies love him too and Rick Santilli from chicago. We have jane it yelling speaking today and tomorrow and the market is taking everything in stride. Are we just in holidaying pattern until the brexit votes are out, do you think . A lot of guys are. I know its been light lately, but today its just incredibly light, but both things are having an impact on us. Janet yellen sounding disappointed in her delivery. She almost sounded like she was frustrated with the market. Then we saw the bet fair not poll but gambling site. They have a 74 chance of a remain vote. That gave us a little pop. We got up to 2092, 93 where we met resistance and were in between those two levels right now trying to get one way or the other. I do feel were possibly pricing in a new event either way. You have a catastrophic selloff if people receive an expect vote and get real nervous about that, but being were this high, were kind of pricing it in and we may get a knee jerk. And we have george soros out there talking. I have to imagine the people will fred was speaking with, those kinds of dire warnings probably only make them feel more antiestablishment. I like the lady that said brow beating isnt something theyre ee nna theyre ee nnmored with with th. And then george sore soes, where do i begin with him. As an american, i think we should keep our mouth shut about what they should do, but ill tell you history is pretty clear how its progressed. What . 41 years ago it was about a Common Market. I remember the beginning chapters when i came in. That was about seven years in the making. But the Common Market was huge. It was a great thing. Those days are gone. This is about politics, pure and simple. Im not the first person to say it. Its about brussels and power consolidation, and i think the people get it. I think what they dont understand is the unknown to leash. I guess the markets are really just a betting site extension these days. You know, whether its about janet yellen, whether its about brexit. The fundamental underpinnings, theyre not talked about much anymore. Algorithms dont program about that. Were long on the tooth in the cycle. I wish it was more based on the fortune 500 company, good earnings, good r d, but it isnt. This is the market were dealing with. Chris, i guess youve positioned yourself with the european equities based on what you think the markets will do after that vote. How do you think it will respond and what are you doing with European Assets right now . Yeah, it is all about politics right now. The lead camp has not made a convincing cost benefit analysis that really supports a brexit decision. So we really need to separate propaganda on one side and valuations on the other side, and from an investments standpoint of view, look, european markets are very cheap. Theyre trading in an alltime high u. S. Market. Europes on 14. Not only that, but europe is trading on earnings which have been grinding down for four to five years right now. So the combination of cheap valuation, trump earnings, making european stocks look very attraction tirch right now. With regard to brexit, you get paid to invest now and if you take a threetofive now, you can sell that kind of money. Sarge, do you think that to chriss point once the coast is a little more clear people will look at the relative cheapness over there . I think once you get past the reaction, youll see the relative cheapness. I think come friday for the shortterm trader, youre going to see a reaction to the currency markets without a doubt, the debt markets and equity markets. This could be something rather significant on a short term. Lets not forget. This is a nonbinding vote. They have to do so much negotiation if they vote to get out, which they might not do. But if they vote to get out, it goes to the parliament, which will then consider the view of the people. They might not go ahead with it, but if they go ahead with it, theyll have two years of this and that at another thing the market has to worry about. This could go on forever. Oh, yes. Thank you for those encouraging words, sarge. Thanks, guys. Thanks for stopping by. Thank you all. Any time. By the way, spanish elections sunday. Look at who is elected in italy. I was over there years ago, it was kind of the yub start almost comical party. Hes a comic, and now theyre gong to be mayor of rome, mayor of turin. This goes far beyond just whats happening in the uk. Oh, yeah. Anyway, the markets are taking it in stride. The dows up 37 points. The s p is adding another 6 and the nasdaq, interesting will i a big laggard is only up 4. An intriguing question, is apples iphone 7 destined to be a dud even before it hits store shelf this fall . We have a special report on the new features that could be tabld for the iphones tenth anniversary next year. Fedex, k. B. Home, and adobe are reporting. Well tell you what analysts are expected. Plus adobes ceo talks with us exclusively. You dont want to miss his comments. Youre watching cnbc, first in business worldwide. Sir its the president mr. President were on mars. Switch to a video call. Sure, we can do that. Congrat. Picture from mars looks great. Its about Time Business Communications caught up. Go from an audio call to a Video Conference with the push of a button. Vonage. Business grade. People friendly. Using 60,000 points from my chase ink card i bought all the fruit. Veggies. And herbs needed to create a popup pickyourown juice bar in the middle of the city, so now everyone knows. We have some of the freshest juice in town. See what the power of points can do for your business. Learn more at chase. Com ink see what the power of points can do for your business. Man 1 man 2 i am. Woman exmilitary . Man 2 four tours. Woman you worked with computers . Man 2 thats classified, maam. Man 1 but youre job was Network Security . Man 2 thats classified, sir. Woman lets cut to the chase, here. Man 1 whats youre assessment of our security . Man 2 [ gasps ] porous. Woman porous . Man 2 the Old Solutions arent working. Man 2 the world has changed. Man 1 meaning . Man 2 its not just security. Its defense. Its not just security. Its defense. Bae systems. Keeping the power lines clear,my job to protect public safety, while also protecting the environment. The Natural World is a beautiful thing, the work that we do helps us protect it. Public education is definitely a big part of our job, to teach our customers about the best type of trees to plant around the power lines. We want to keep the power on for our customers. We want to keep our community safe. This is our community, this is where we live. We need to make sure that we have a beautiful place for our children to live. Together, were building a better california. Welcome back. The markets are moving higher. The nasdaq is lagging. Weve watched crude, which i, by the way, rolled over. Keeping an eye there. The energy space up 1 . Telecom, technology, where the materials are discretionary and health care is in the red today. Lets check out some of the movers. United continental creating higher after it said it expected Second Quarter passenger revenue to fall compared to a year ago. Thats actually a smaller decline than previously estimated, hence the gain of 3. 5 today. And carmax is lower on disappointing First Quarter earnings. Profits have fallen for three consecutive quarters as they face rising expenses, pricing extensions and stiff competition. A lot of used cars out there. Carmax reporting a 7 decline in finance income due to an increase in loan loss provisions. The new i phone 7 could have fewer changes than consumers might have expected. Josh lipton has more for us. Josh . Kelly, if youre waiting for big changes to the iphone, you could be disappointed. Thats according to the wall street journal. The model unveiled the fall was only going to boost subtle changes. Specifically the new phones will still have the same display sizes, 4. 7 and 5. 5 inches and the phones will not have a headphone plug making them thinner and more wa waterresistant. Were not sure if thats temporary or a permanent departure. This comes at a delicate time for apple. We know the stock is in the red this year and over the past 12 months giving worries about the health and future of the iphone franchise. Remember in q2 i phone units did slip year over year for the first time. A full 15 drop. What should investors make up this news . I caught up to pipers gene munster who city things apple can sell a lot of iphones even if changes are not exciting. Thats because there are a lot of people on older models, 2 x 50 million, who could still be waiting to upgrade. Munster said a lot may be saved for 2017 which will be iphones 10th anniversary. Back to you. The big news to me is getting rid of the head phone jack. Did a profungtry its going to be in the lightning jack. But what that means for existing head phones isnt clear. I wonder if theres any talk about converters. Otherwise i turned up hits on wireless earbuds. How many people are going to want this phone if theyre going to have to change their whole ear budd approach. Certainly we stress that apple is always tightlippeden about what its in its product pipeline. Regarding the headphone jack as bill just alluded to, the speculation would be that the lightning connector serves as kind of a dual phone as power charm and head phone connector but overall, the assumption here is you wont get a radical change. It would be thinner, waterresistant. If thats true, it would take away one advantage that samsung has. But we wait and we see. Yes, we do. Josh, thanks. Josh lipton. I know apple fans out there are going to roll their eyes at us asking these questions and being skeptical but an ironclad rule of retailing and just being a successful merchant is if you want people to buy a new product, you make it compelling. That being said, you still use a blackberry. Thats okay. But thats a whole different story. Even people who need to upgrade this time around, i can see them waiting another year if they know theyre getting a whiz bang phone for the 10th anniversary. If they know that. Otherwise the 10th anniversary. I dont know. Awfully smart people running apple these days. We all await that vote we all know about on thursday. And Facebooks Instagram is out with new data showing user growth doubling over the past two years but how long did that thai did you notice how they snuck the music in. Move ahead, kids. Also donald trump says the economic policies would throw us seatback into an economic recession. Whether clintons speech swayed them or not. 728 a month. Thats almost 9,000 a year now judy doesnt think that shell be able to retire until her mortgage is fully paid off. This is mike. Mike is also 65 years old. His monthly mortgage payment was 728 a month. Now mike thought he would have to work for another 12 years until his mortgage was paid off. And then mike heard that a reverse mortgage may help him. He called one reverse mortgage to get the details. Mike retired immediately after getting his one reverse mortgage loan. Maybe you too can benefit from a reverse mortgage. 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Thats been a drag on the nasdaq. You can see the biotech index, the ibb, is down 1. 5 . Bioamgen and especially celgene down more than 2 right now. Hillary clinton attacking Donald Trumps policies as his fundraising policies are called into question. John harwood has a recap. John . Kelly, just as donald trump tried to find that Hillary Clinton was dangerous, she tried to do the same on the economy. Shed note thad hed taken several companies into bankruptcy and unlike his priefr companies, she said you simply cannot threat on the cut a deal on u. S. Debt as donalds done. Heres Hillary Clinton. It matters when a president ial candidate talks like this because the world hangs on every word our president says. The markets rise and fall on those statements. Even suggesting that the United States would default would cause a global panic. Hillary clinton went on to ridicule Donald Trumps claim that he would make America Great, noting that several of his Companies Make their products overseas. She also said he wouldnt benefit average people because his tax plan is steered to the ric