Well take you through live for her comments. She will be asked about some of the biggest issues facing business and tech and i imagine some politics, too. You would imagine so, yes. This is the final hour of trading for the month of may, so your last chance to sell in may if you were so inclined. The nasdaq, of course, has been the big out performer. Discuss whether it is time to sell some of the high flying tech names. Well see where the market on close number is. As we head into a traditional i dont like to talk about the traditional. Hasnt work that great. Well talk more about them, dont worry. Begin with netflix ceo making headlines at the conference a few hours ago. Our Julia Boorstin is on the scene with more. Julia. Reporter hey, kelly. Thats right. Netflix ceo reed hatings tells me he is scared of amazon, really scared as amazon ramps up its investment in original content. But he says he is going to broaden the library and grow the subscriber base. If we try to out amazon amazon, thats a losing battle. We have to be a special play. Were trying to be starbucks, theyre trying to be wal marlt. What they do is incredible so, no, we wouldnt focus on those things. We would focus on how to be the embodiment of entertainment and joy in tv shows. As netflix growth starts to slow in the u. S. , hastings pointed to markets with the biggest potential. Have done awfully well in latin america, europe and in north american. We have a lot of room to grow in asia. What about china . You are licensed in china but are you still trying to launch there or is it off the table . I think it is off the table for next cup many of years. Reporter when i spoke to hastings, he said the show he was most looking forward to was the crown. This time i asked what show hes most excited about and also what show he says will have the biggest impact on the company . We dont have our sound bite there, but he said it was a show called the glow, also from the creator is orange is the new black. And it launches on netflix june 23rd. More on the interview with hastings on cnbc. Com. What is glow . It is a new show. A period piece about women wrestling in the 70s. Thats what hes most excited about . Apparently it is sort of a spoof but not entirely a spoof, i think is the way he characterized it, right, julia . Reporter yeah, thats right. Wrestling in the 70s, by the creator of orange is the new black. It sounds intriguing so i for one will check it out. Julia, found about china interesting. He seemed curt when you asked about it. How big a deal is it for netflix not to have access to the market . Sfloo he reporter here is the thing. They have access in that theyre licensing to other distributors in china. But it is not worth it to keep fighting to figure out how to put their regular service in the country. Theyre in 190 countries around the world, but sounds like the amount of money they would get out of china sounds like licensing is a better bet for them. Julia boorstin, thanks very much. The federal reserves beige book showing signs of uncertainty about the trump administrations policy. Steve liesman has that report. Michael, good afternoon. Saying the economy continues to grow modestly, but some signs of weakness in Consumer Spending but also worry about Economic Policy in washington with several fed banks saying their context report is affecting business. Here are example also. In boston they say manufacturers say policy uncertainty is holding back spending among consumers. Dallas says some firms see uncertainty about trade policy affecting business. San francisco, immigration policy changes, in fact Farmer High School to throw away some parts of the harvest because they couldnt get workers. In st. Louis, hospitals layoffs citing. It remains to be seen how much Economic Impact this amounts to. Fed officials said more uncertainty about the direction of taxes or more uncertainty and other fiscal policy changes could help clear up the outlook, guys. We will ask these questions and more in the exclusive interview we have with fed governor jay powell at 10 00 a. M. Tomorrow, guys. In spite of that was the overall tone of the report, talking about moderate activity, broadly speaking, anything like that . It sounded like a 2 economy, plus or minus. A little bit on the softer side. Some concerned about autos. One dealer, i guess in cleveland, said the inventory were at the highest levels in a long time. The line about Consumer Spending being soft was worrisome, kelly. Chicago, new york and boston didnt report the best economic outlook. Overall they kept to the phrasing of modest to moderately. If you want the bottom line, i say it is still good enough for a june rate hike at this point. All right. Of course wile have more with jay powell in the morning. Look forward to that. Thank you. As we close out the month, the nasdaq is on top as the best performing market, up 2 follow by the dow and the s p and the russell is the worst performing index. It has gone exactly tots way, down 2 . How or should investors prepare portfolios in june. We have andy capra from post nine and news in the at lan timesunion, steve grasso and Rick Santelli at the cme. Thanks, guy, to all of you. Andy, actually the full year has not necessarily ee involved the way a lot of people were positioned for it, right . You have bonds rallying the last few months, bank stops performing. Where does it leave you in terms of going into june . Think theres been a real dichotomy between expectations and result. We talked about the russell being worst performing index this month. Actually one of the worst performing, everything to do with expectation. Everybody talked about smallcaps in u. S. Seeing the next train. Get real. We havent had any reality in washington and we havent had any progress on earnings from these small companies. Where all of the action is, is in large tech companies, large multinationals. We should also mention, Hillary Clinton will begin speaking any moment, we will dip into that as soon as it happens, but what do you think about the russells . I think andy hit it on the held. Everyone thought who would be most to game if we had tax policy shifts and thats where everyone was leaning towards the smaller companies, smaller cap companies. If we dont see any of that we will continue with the horse oddest to the dance here. If we look at oil, if we slip below 40, it is very ugly. I have been saying for a while it is an over supply. Doesnt matter if you cut production, extend the cuts out nine months or a year, theres a problem with a glut of oil. What does it mean to the overall market . The market has been able to fight it of off. But we get down to low 40s and thats where i think were going, thats going to have a real effect on the s p. It already is. The s p is around the high. If you see the s p start to really crater here due to an oil change, think that will catch the attention much a lot of investors. Certainly having an effects i mean Energy Stocks are all over the 52 week low list. Financials for a large part of that, of course, Rick Santelli, is this continued compression of the treasury yield curve. I know you have been monitoring the tenyear yields kind of toward the lower end of its recent range. On the other hand, people saying maybe it has become a crowded trade again. Is this bottom of the range going to hold is probably the question. Well, you know, anything can happen. I personally think we might violate it. But i think i go to my stopwatch theory. It is not whether you trade below the current yield for the year established in april of this year of 2. 17. It is how long you stay down there. To me thats the issue. I think we can violate it. As a matter of fact, when you look at all of the dynamics, especially the weak dollar, i think it is almost unavoidable at some point there will be a bias of a disappointment and the logistics of the trade are important. But i think when it comes to logistics of the trade, we almost saw that in reverse. There were many, many that were long that reversed out when we had that sort of fakeout about a month ago that moved us back into the 230s, almost to the 240 level. The thing with treasuries right now is that you have a fed that continues to stick to this kind of philips curve strategy, even though as branarld said theres basically the relationship between low inemployment and we can question its accuracy and whats going on with pricing. When you put it together and look towards europe, i dont see theres an impetus to expect any resurgence of selling in treasuries. If you are looking to stay under 2 for a long time, i dont think thats the trade we ultimately will look at. Andy, you have a couple of these. You have morgan stanley, the financials you like. How in the energy space and apple. But talk about morgan and total and in a period where the market is not favoring these players. Lets take it in reverse order. Total is a french super major. I love them for the current oil environment. The only support to it is the deal between saudi arabia and russia, two strange bed fellows that will have a hard time cooperating and getting the deal together. I doubt it will last. I think 50 is here to stay. Super majors are the first to return to profitability and theyre stable at this range. Morgan stanley another good example of a financial different from other major banks. Their biggest earnings driver is feebased wealth management, which is different. You are not depending on getting a new client in the door and trading every day. Youre trying to get assets in the door and managing a clients wealth and thats an important business. Well see if they like the fed rate hike. Thanks very much for your time today. About 50 minutes until the close here. Dow is down 43 points. Pretty consistent. Feels like just sitting down 40 points. A little flurry of activity in the morning and sort of settle it in for the rest of the day so far. Well see if closing the month makes a different. Nasdaq down 19, russell down about 5. Deal making in d. President trump and vietnams Prime Minister expected to sign trade agreements with billion also of dollars for u. S. Companies. Well go to the white house for details. Hillary clinton is set to begin speaking at any moment out at the conference in california. Well bring it to you live when it begins. Stay with us. The bond report is sponsored by whats team spirit worth . cheers whats it worth to talk to your mom . Whats the value of a walk in the woods . 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We reach out to mylan for comment yet. They are going to get back to us soon. In this state grassley saying it looks like mylan over charged the taxpayers for years with the knowledge they were over classified. You can see it down about 1 on this, guys. We will bring you more updates. Back to you. Thank you. The pension fund is upset about the comp paying out. President trump meeting with seat no, maam usa Prime Minister at the white house. We will go to the white house for the results of that exchange. Under scores the key role vietnam is playing in asia. Thats right. Since tpp was thrown out by President TrumpAsian Countries are trying to strike trade deals with the United States. Thats what vietnamese Prime Minister is attempting to do in his meeting. Ge announced it has secured deals with vietnam for aircraft engines and other services totaling 5. 58 billion. The largest sale with a country in ges history. Questions of how the u. S. Will bring down the 32 billion trade deficit with vietnam which trade representative expected word over last night. On the defense, as chinas influence grows in the broader region, the two countries share an interest in containing beijing, and in the disputed South China Sea waters where vietnams western coast is located. Started to help vietnam in policing the waters. We have seen japan and india strike security agreements with vietnam. This highlighting the Important Role they play in asia. The Prime Minister of vietnam have to tread careful as China Remains vietnams biggest trading partner. I find it hard to believe vietnam can throw its weight around very much. It is a communist country, not all that wealthy. To what degree do we think they can step up and be a lead player . If they cannot be part of choin ahs sphere of influence, their independence more ways they can reduce their reliance on china, the more clout they will especially when it comes to Foreign Policy matters and south china see, which of course is a huge shipping carrier area for vietnam. But as to your point, it is a hot, emerging market. The stock market is up about 10 yeartodate. It has been growing annually by 6 over the past five years, but a big part is exports. We will have to see if that can continue. That 32 billion trade imbalance answer with vietnam and the u. S. It is bigger to vietnams economy than to the u. S. I wonder what kind of terms we might be talking about, about a bilateral trade agreement. Thats the details were hoping to get from this meeting with trumps meeting with the Prime Minister of vietnam, how exactly theyll bring down the trade deficit. It is the sixth largest deficit with vietnam with 32 billion, something to keep in mind, especially when you have a lot of big multinationals like nike with a lot of factories in vietnam, samsung, united air among others. They rely with vietnams manufacturing capabilities. It was a big deal with starbucks opened their first location in vietnam, correct . Theres so much potential there and people look to it as an emerging south Eastern Market but it still has a way to go. Yes. It is an elegant dance, trying to find the economic ways, to try to cooperate on the economic front but also trying to maintain the type of balance on defense. Because thats beige growing concern, is with tpp off the table can these Asian Countries, including india by the way, were expecting Prime Minister mody to meet trump in washington in the coming months, will they be able to show cooperation on defense but also work on these trade deals. Were going to california now. Thank you. Hillary clinton is speaking live at the conference with executive editor kara swisher who will be interviewing former secretary of state and she is expected to weigh in not only on politics as she has been doing. Here is President Trump meeting with Prime Minister of vietnam. He has done a spectacular job in vietnam. Were going to be discussing trade. Were going to be discussing many things that we have to talk about. We look forward to being together. Thank you very much. [speaking foreign language]. Translator i thank you, mr. President , for this official visit to the United States. I look forward to briefings, to each and every american and [ inaudible ]. Translator in the United States have undergone significant upheavals but today we have been able to become partners. [speaking foreign language]. Translator i have had the great pleasure of having a phone conversation with the president , and also in the exchange of letters. I was very impressed by the openness of the president and im confident that our meeting today will be equally candid and open and will be fruitful to set out major directions for our u. S. vietnam cooperation on the basis of Mutual Respect in the interest of peace and development in the asia pacific and the world. [speaking foreign language]. Translator we very much look forward to working with you, mr. President , to attend the economic interest meeting as well as pay an official visit to vietnam in november of this year. Thank you very much. Thank you, everybody. Thank you. Thank you. Thank you. Hearing from a lot of people, both ways. [ inaudible ] sir. A lot of people, both ways. [ inaudible ]. Thank you, everybody. Thank you very much. [ inaudible ]. All right. President trump there saying soon, very soon when asked when he would come to a decision on the paris climate agreement after meeting with vietnams Prime Minister. Lets go back to the code conference with kara swisher an