half a point. the dow futures down by about 5.5 points. and early european trading this morning, you will see some very similar nonmoves at this point. it's flat across the board. in asia, this is a huge story. the nikkei slid another 1.7% overnight. it is right around bear territory at this level. they have been looking at down 19%. it was down by even more during the trading session. we are in bear territory now for the nikkei. that is a huge issue, as well. this comes after a gain of about 75% from mid november through may. joe, over to you. >> i'm hurrying because i'm doing my -- i just decided to go to the lows. if we're going to do the interday high on the s&p -- >> how about on the nikkei, too? >> no. i'm done with the nikkei. i heard you. i heard where it is. it's bad. now i'm looking it up. the big turn around yesterday, we were down well over a hundred on the dow and it closed up 80. >> are we down more than 5%? >> if we do interday highs to inter day lows yesterday -- >> on the dow or s&p? >> on the s&p. 1688, 1688 was the high. yesterday, it traded at 1598. that gives me 5.3%. that might be enough. if this is a bad number today, that might be enough to get the markets going back up. >> yep. >> today is going to be a very per verse day. you're almost looking for a bad number. >> i don't know what you've got planned about pervisions and or anything else and i don't want to know and i don't think any viewers want to know. but let's focus on the market and business news right now. >> thank you. thank you for that. >> but 5%. people say 3% to 5%. don't they say -- so maybe this was enough. >> we're done? >> people -- the public still didn't love the whole idea of this, anyway. and they would just get -- usa just published that piece. maybe this is enough. now i'm going back in. now i'm thinking -- >> but do you think it's a bad number? because what happens -- >> no, not necessarily. because i think tapering might be now with -- because we already think the i is the ism and all this other stuff. >> but don't you think that the fomc made the statement, that they had a sense of where we were? >> with the economy or with the jobs number? >> with the real economy. >> i had to read through that a couple of times because you would think if we had thoughts that the fed was going to pull out the qe, that would be good news or the dollar because there's less money pumped into the system. but i think -- reading through the article, they kind of get to the point where we're worried about the weak economy. it's not the qe3, but if you're looking at the situation where the weak economy and the fed can't do a heck of a lot more. >> what we won't see is any of the people that i'm waiting for a 3% to 5% correction. they never say it. they never do it. they never, ever -- and then andrew, you asked me, how do i feel about this whole -- >> we're going to get there. >> we're going to get there? because al gore calls it an incredible abomination. >> what are we talking about? >> the nsa. he says it's an abomination. which i'm for it, then. and dianne feinstein says she's for it so then i'm against it. you let other people form your opinions? >> i will never come down on the same side of any issue with al gore except i also like high calorie cake. as for the markets, let's take a quick look. oil at this point is -- we can't really understand why it's $95 given that the entire globe is weak. but demand for oil, we're still going to go places. you know what? driving season it is. >> the summer is driving season? >> exactly. you know why? because it's the summer. so do these hurricanes and all this wet weather. the ten-year, you know who we're going to have on today to talk about this. that's your favorite indicator and that is the chairman himself, alan greenspan will be on later. 2.05%. there he is. still looks smart. >> yep. >> wow, look at that. >> turn up your set. he speaks softly now. you have to listen closely. >> it was a big sell-off yesterday in the yen, too, and now the dollar is even lower. sitting right at 967. >> and something happened with gold, which i didn't understand what the implications were. some central bank said something. did you see that? >> yeah. i saw it and i didn't read it. >> here you go. india boosts the gold import tax to curb the record deficit in demand. it increased the tax on bouillon and the curb, a record current account dif set at a time when the world's gold council which we had on yesterday predicts an all-time high for quarterly demand for -- the guy was telling us, do not discount jewelry. don't act like that -- it's not all about epfs and central banks. >> yeah. jewelry. >> which i'm trying to bring back. after behind the candleabra. >> i want to see you come up with a bunch of -- i'm going to let you wear -- >> you can pay the rent. you can always sell it. matt damon ended up, when he needed some money -- i think it was for coke, actually. have you seen it yet? >> no, i haven't seen the movie. it's not matt damon -- he's playing a role. >> that wasn't -- identities they're not in love? >> it's just for the audience. >> what? >> you can't just let it hang out that that matt damon -- >> so they were acting. thank you, andrew. they were aqua man. thank you. >> the other story of the morning that joe was alluding to, al gore and others making lots of comments including the "new york times" op-ed page. i don't know if you saw what they said. >> they hate the nsa. >> right. >> take a listen. >> here is the news this morning. he's going to read while i read. the nsa and fbi reportedly tapping directly into the central servers of nine leading u.s. internet companies. "the washington post" saying the highly classified an eye terrorism program allows investigators to examine e-mails, photos and others documents that can be used the track people and their contacts. >> anybody they want whenever? >> anybody they want. now, google, apple, facebook and -- i think there's some others, too, are now denying that the government had direct access to their servers. so it's unclear how this would work. the program is called prism. the post says it would establish under president george w. bush in 2007 and has grown expo n exponentially during president obama's administration. it was targeting non-u.s. persons living outside the united states, but the big questions there. i can't figure out -- do they have access to verizon, a&t and sprintd. they have clearly have access to internet service providers. i would love to know whether cable providers, maybe comcast and others. they talk about if you have an internet service provider, that way you could access the stuff without necessarily google or facebook having access to their servers. i'm trying to figure out how this would even happen. >> i saw a statement that was put out by one of the nsa guys or somebody, one of the top officials there there kind of denying the scope saying that there were a lot of problems with the story that was reported by "the washington post" and the guardian yesterday about that. but it sounds like there's still a lot that's been -- >> you have to decide how you feel about it. dianne feinstein said it's called protecting america. >> dianne feinstein sits on the intelligence committee. >> and she knows how many threats there are every day and we don't like threats and i don't like the idea of, you know, weapons of mass destruction or biological -- i would like to know about that whether before it hits us. >> just so you know, joe, even when you go incognito on the web and you put your searches in on your private browser, it's fought so private. >> they're not looking at that. >> i have nothing to hide. >> i'm just making it -- like woody allen said, what goes on behind closed -- i don't think that -- you know, go ahead. my life is an open book. do you want to see that? okay. >> i'm just saying that -- here is my point. your phone numbers, everything. >> when the "new york times" and rand paul somehow come together -- >> you know there's a time space continu continuum. you go far enough around this way, you meet back over here. rand paul and the "new york times" are sympatico. >> do it again with the music, please. >> time space continuum. einstein. rand paul and the "new york times" are smack dab in the same place. how in god's name does that happen? >> if you get a contentious issue like this, you can get there. i told you there was a middle. there was a middle. >> rand paul and al gore are, you know, in the next -- behind the candleabra, too. they are sympitico. that makes no sense whatsoever. i think actually if we can glean something that prevents something really awful from happening, it's like, i've got nothing to hide. maybe you have some things to hide. >> i do believe that there are times that you can and should be following some of these things down. but this sounds incredibly broad. >> this is everybody. >> if it's not everybody, then you miss the song. whoever that we're talking about. they're not looking at the content, right? they're looking at how long. >> no. this prism thing is looking at the content. search terms, photos, the other stuff. >> why do you keep bringing up -- you keep bringing us back to photos. >> i just think you have the right to expectation of privacy. i also understand. >> this day and era, we give up some expectation of that. there are things, you're willing to stand in line at the tsa and you're willing to take your shoes off and you're willing to say, go ahead, look through everything i'm about to bring in. there's got to be lines that you draw at some point. and the government being able to look at everything and anything whenever they want, there has to be a line. >> the other question is, president obama's meeting with the new president of china today. the whole conversation is going to be about hacking. >> right. >> how -- so that's happening in china -- not in china, rather, but in california today. given this news, how does that all work together? if other countries say, if they do it this way -- >> the biggest concern is not only that they're trying and hack and spy on it, but it's happening at a corporate level. the rules of the game has always been, whatever you're doing, you're not trying to spy and hack on corporations. and that changes everything because you're basically -- they're trying to get ahead and get some sort of advantage by stealing things from us. >> i think when there are news stories that say we're hacking effectively our own people. for berth or worse, it makes it -- whatever moral high ground you have for all of this dialogue, it makes it that much more difficult. >> one thing that was pointed out to me yesterday was that if this was george bush and this was happening ta -- i mean, it's finally reaching a high level of interest from the media. how many of these scandals has your -- has the "new york times" broken? andrew, did they break benghazi? no. did they break the irs? no. has mainstream media broken any scandals that the obama administration has been involved with? >> no. >> "the guardian" breaks one. another one with the ap, the ap found out itself. >> no. >> there's two people, jake tapper i heard and cheryl at so. and they're probably not going to be around too long with their employers. hello. >> i'm just trying to find you -- >> when you're at the "new york times," can't you ask someone to investigate barack obama instead of just giving him a -- can't you do that? >> i'll work on it. >> think if this was bush, he would be impeached already. >> what i was going to tell you is if you read that op-ed in the "new york times" today, they called the whole situation unacceptable. >> anyway, there it is. can you imagine if he had done one of these things, and meanwhile, obama has outbushed bush on the whole security stuff, hasn't he? gitmo. he wasn't done any waterboarding yet. >> that's usually the way it works. nixon, he was able to go to china. >> i think it's funny that the left is -- you know, he's getting attacked from the left. now i kind of like him a little more, right? >> you're a hawk. >> i kind of think it's like go, barack, yeah. anyway, time for the global markets report. those people get in fistfights in the house of commons a lot of times. you're used to this, aren't you, ross? >> yeah. >> and being a spy yourself -- you've done a little spying yourself as 00 -- what were you? >> 007. >> yeah, no, he's got a different number. 00 -- i don't know. but you're used to it. what do you think? your paper, we need your press over there to figure this stuff out because we don't really -- you know, we don't really like to investigate the messiah over here too much. >> yeah. this is interesting. we had the phone hacking scandals over here, right? and then everybody was coming into the big commission and weather the pressure would be reigned in or not, whether you should have less press freedom. but, of course, what the press does do is hold governments to account and digs up stories on politicians. actually, we want that to continue, don't we? i guess as voters we want to know when things are going on. and the interesting thing about using security as an argument is where do you draw the line on that? right? because they probably say the same thing in china. they want to monitor everybody's e-mails. yeah, they want to know that the state is secure. >> that's true. that is a good point where -- it's a slippery slope. and that point, andrew, is negative. i if we want to have high ground when we're talking about china with hacking, it's hard to have high ground. >> i have something for you, joe. this is the op-ed of the "new york times." the administration has lost all credibility on this issue. that's the sentence. mr. obama is proving the truism that the executive branch lead any power is given and likely abuse it. that's much farther than -- you guys -- this is like your new paper. >> no. i'm for this. i already told you that. if they're saying that, then i'm for it. anyway, i saw -- did you see the bounceback yesterday? is that helping your market today? not really? >> no. we can't do anything ahead of the employment report, joe. we are weighted slightly to the downside. not by much. five to for decliners outpacing advancers on the wall behind me. about five layers of red down below. we are near the session low, though, at the moment. the ftse 100 down another 1% yesterday. it was 2% down on wednesday. so 3% cumulative in the last few days on the ftse. the xetra dax is down 0.4%. the ftse mib is down a little bit, as well. let's show you where we stand in terms of the sector breakdown. just three up. so we are weighted. telecoms is down a little bit. worth looking at here, down 0.35% here. some of the german carmakers a little bit under pressure. technologically bmw. they got porsche down 1.3%. bmw down 0.8%. there is now a trade spat with china that stepped up in gears. at the u said they were going to slap anti-dumping duties on chinese. china has responded saying they're going to go up to french wine. now it appears somebody has launched anti-or retaliatory trade complaints with the chinese ministry on all of those and are now saying they're focusing on cars with engine displacements of two liters or more built in the year. preliminary investigations will begin in early july at the late latest. they're saying they are taking this threat extremely seriously and its trade relations with china and europe decline further, we could see tasks imposed on european autos, the more luxury come september. so these stocks are weighed down a little bit by that and it will impact the german automakers and more around europe because they are the premium luxury segment that does most of the business in china. so we'll keep our eyes on that, as well. for now, back to you guys. in a free and open way, i will hand it back to you. >> we were just talking. the president's approval rating has stayed stable. and i know how. he loses andrew and then say i don't -- and then he gets me. basically, that's how it stays. >> we swapped today? >> yeah. he loses the "new york times" and he gets -- yeah. i think that's why. it's amazing, since it? >> it's the opposite of a -- >> there are two statements that are out from the director of national intelligence. aman sent these. on the one hand, they're saying -- there's a new statement out, too, that says the highest priority of the intelligence community is to work within the constraints of the law to do these things. nondenial, denial. but one with talking about the nsa and the other is talking about the prism. neither mentions which is which. there's one saying the stories are wrong and there's another that says we work within the law. >> i still want to know if you're appear, google or yahoo! whether you're providing this information. how does this work? >> i don't know. >> you saw that -- >> verizon's statement yesterday was basically we're not allowed to make any comment on this. if there was a court order like this, we would have to comply with this. >> that's what i don't understand. >> which makes me think, yeah, that is the case. on that one in particular, the director of national intelligence basically says it's an outrage that sensitive court documents would be leaked, which makes it sounds like that is kind of a -- yeah, we're doing that thing with the phones. >> so maybe the phone thing is different, though. >> than the prism situation. it sounds like they're arguing against that. the phone thing is probably true and they point out that they would fought be looking at any of the actual conversation and the content, rather looking at -- >> they don't address what i call cable providers or internet service providers. because if you actually own the wire, you can actually figure out everything that's going on over the wire. >> right. >> all i know -- the granny one, you said she's 84. she has 3 hunl something million. >> yes. the woman who won the powerball. >> lano says they don't know what lump sum to give her. she hasn't registered as a democrat or republican so they don't know what level to tax her at the irs. doesn't know whether to slam herr or -- >> you were up that late? >> no. >> you see the reason she won is because a guy let her go in front of on him in line. >> you see commercials like that. >> none of the stories said whether she was trying to find that guy to give him the kouft it. but oh, that poor guy,s knows he's the won that let her walk in front. >> the whole sum thing is -- >> what would you do? >> with that? >> would you take the lump sum or go over the years? >> she's 84. you have to take the lump sum. >> but what do you do? >> yeah, i take a lump sum, get a diversified portfolio and watch cnbc a lot. i would watch all the shows to try and decide what to do with it. coming up, d ash long with closing bell, the kudlow report and power lunch. >> "squawk on the street." >> "worldwide exchange." >> start the morning off right. >> and then i watch american greed to make sure i don't get the wrong financial advice. >> and there's cnbc world in the night. anyway, coming up, the continuing countdown of today's job report. we'll talk expectations next. plus, hank paulson's message to president obama. and in china's president 11 ahead of -- oh, no, xi. not -- >> it's not president 11? i'm sorry. ahead of today's summit in californ california. caught up with paulson. we'll join us with his comments, next. even those held elsewhere, giving her the confidence to pursue all her goals. when you want a financial advisor who sees the whole picture, turn to us. wells fargo advisors. ♪ ♪ ♪ ♪ okay. all is right with the world, andrew. >> you said you were going on to be out. >> "the wall street journal" -- you did the "new york times" op-ed. "wall street journal," thank you for data mining. the ns