Back to your point before we hit the headlines, its been a heck of a month for stocks. 43 s p 500 stocks are up more than 5 . Just in june. And im telling you, if you sold in may and went away, you lost out on just about all the gains for the year. To your point on oil, williams, new field exploration and others, theyre leading some of the gains. Oil has actually led us higher. Thats the down side on those things is oil helps out until it starts to act as a tax on the consumer. And you dont know what the he end of the summer is going to bring. Yeah. One thing i would say, we dont care about oil prices, can he care about gas prices. We had a guy on from bp yesterday who was talking about their global study that they look over lee years. And the good news is oil prices are more stable than theyve been at any point the 1970 witness stand that means theyve closed above 100 for three years straight for the first time ever. Yeah. Crude oil has been higher than where we are right now. Carl icahn is asking Family Dollar to put itself up for sale right now. But the sale has has not begun. The activist investor is threatening a proxy board. Icahn says hell go to shareholders if the company does not act immediately. Shares of fdo have been red hot lately. Twitter is splitting the role of its recently departed chief operating officer. One executive will be in charge of revenue and partnerships. Another will be responsible for marketing and media. Twitter cofounder stone telling cnbc he does have faith in the current board. And the socalled high valuations youre seeing or the you know, the sticker shock you may have is nothing compared to that fist shakeout. I mean, we were talking about hundreds of billions of dollars in the dotcom bust. And now were talking about tens object just 11 billion. Shares of twitter so far this net. 19 for that in june. A judge has ruled the Justice Department lawsuit against bank of america can move forward. The doj suit accuses the financial giant of civil fraud. Mortgage securities went back during the Global Financial crisis. In the meantime, reuters reporting that bank of america boss Brian Moynihan may be trying to take a play out of jamie dimons book. Remember, back in september of last year, jamie dame by effort to droig a previous issue. Traditionally, if you are and im not suggesting anyone is a criminal, but if there is a criminal probe, somebody like that does not often meet with you. They dont usually take that meeting. So this is an interesting play. But its a difference of perspective. There are many people who think this is just a shakedown. I dont disagree. And if eats to find a deal, why wouldnt you go the two together to find out why can we come to an agreement on it . The argument against taking the meeting is that it appears to the public whether its a shakedown or not, im not going to go there. I made the argument in the jpmorgan case i felt that it was. But if you have an organization where the head of the Justice Department is im shocked that youre suggesting theres a relationship between wall street and washington visavis money. Is it too early for that kind of sarcasm and cynicism . I expect it might be. But wall street and washington, as my daughter would call it, pinky swear. Theyve been linked like this for years and its only gotten bigger. And that would be the argument against it. Sprint reportedly close to financing its acquisition of tmobile. The debt package reportedly exceeds 40 billion. It includes a on o joe kernen, have you seen that . He tweeted joe and offered a sevennight stand. You can use it for a week and return it. So he was offering joe a tuntd at that. Anyway are you trying to generate some mail, mark . Why do you do that . Thank you. Im not sure. I love what tmobile is doing. I love the concept. Theres a down side risk here, though, if people dont get the service that 24th expect. Yes. And im wondered about the Business Model. By agreeing to buy out contracts, is that a Sustainable Business model or is this just a way to create a lot of pain for your competitors and have someone buy you out . I can the margin is huge. Is it good service or not . I think the criticism people have of thismobile and in allus relationship. And youre i will leave my comments to myself. Things may have changed. And that review is going yelp. In the fight for alstom, siemens and mitsubishi raising their bid, challenging the bid from General Electric which improved its bid yesterday. Alstom has a Board Meeting set for monday. A decision is expected soon, but well see. Right now to the latest on the situation in iraq. President obama is sending up to 300 military advisers to the country. Michelle Caruso Cabrera joins us on the ground. What helps are the military advisers expected to offer . Well, if youre going to do precise and targeted military operations, becky, then youve got to have a team on the ground who can tell you when ive got information that allows you to do a precise and targeted military operation. So we assume theres going to be al of technical sxirt, foe foes, they can figure out where the targets are and then decide whether theyre going to go after those targets. Whether that means air strikes, whether or not they hand that information over to Iraqi Special forces. But the 300 military advisers, you have to have them if youre going to do any kind of targeted military operation. We are getting word that secretary kerry will head to iraq sometime soon. Thats the guidance that were getting. Uk newspapers are rt roed specifically that he will go to barth. We dont have any specific time frame. I want to tell you what the state televisions response is to president obama have been. Iraqi state television, which is redundant, basically, reported that president obama asked the Prime Minister of iraq Nuri Al Maliki to step down and that maliki has refused. Additionally kurdistan has change. Now theyre saying we are not going to kill independent people on behalf of Nuri Al Maliki. Clearly theyve heard a change in tone or believe theyve heard a change in tone from the president. The New York Times reporting now twice that Achmed Chalabi told the bush at administration that the u. S. Would welcome the United States. Guys, i always like to show you the newspaper. I havent had a lot of time over the last week, but i mentioned to you how in the kurdish newspapers, they have redrawn the map of iraq. They cut and paste them from somewhere so luckily theyre in english so its very, very clear. They call tilt new iraq and they draw kurdistan here at the top bigger than it is officially. They take over a lot more provinces. Another one here, similar. And baghdad is kind of left out in the cold. Theyre telling graphics just to give you a sense of the attitude here. I wonder how the situation is in kurdistan. I know you talked to us earlier in the week. When we spoke with Richard Engle in baghdad, he points out even though baghdad is going to be safe from a full frontal assault, what the terrorists end up doing a lot of times is sending in suicide bombers as a result. Does that happen in kurdistan, too . The security here is so intense. And they have worked against that for the so long and the peshmerga, the kurd stan military, are consider iing mor. Weve seen seven in bag aloern. The militants get to go baghdad . Probably unlikely. Theres not enough of them. Getting to boss bosra, probably not. Thats where all the Oil Facilities are deep down south. Could they still disrupt the oil fatalities if they were managing to infiltrate. Thats the big concern, do we go back to the time of the ieds that we saw so often from 2005, 2006. Michelle, good morning. Im glad youre safe. Youre talking about going back to the time of the ieds. Some folks ive talked to that spend time there for work suggest that iraq is going to go back to the times of 100 years ago when it was numerous separate nations, separate regions. You would have the kurds up north, the sunnis, youd have the see na and that iraq was maybe never meant to be one nation. Do you get the question from talking to the people thats absolutely the dominant opinion here. Many, many predictions. We just hired contributor david philips, who has a great piece on cnbc. Com, which basically says iraq as we know it is over. Kurdistan is going to be independent. What we have going on is a dance between kurdistan and baghdad. But at some point, kurdistan is going to declare independence. Right now, theyre waiting for a moment of leverage because they want to sell their own oil, they have to have a lot more autonomy. How its going to go down is the basic we know request. Rehe suggests a deep federalism. You give so much autonomy to the shia area, the sunni area and the kurd area where they can make their own laws. Right now in kirkuk, he still has to follow all of the law necessary baghdad from under saddam husain. The country has to be deindustrialized. If you give autonomy, maybe that holds the country together. Yeah, but the big question is going to be who gets the oil . Right. The sunnis would be left out because kurdistan has taken over the oil in the north. The sheen yas have oil in the south. The sunnis would be left out. That tide may be turning because they are very, very tired of being purse cute bid the shia government which, by the way, didnt control iraq for more than a thousand years, right . So its only been in the last ten years that the sunnis havent been in power. Thanks for checking in. In the meantime, House Republicans voting for a new majority leader after eric cantor lost his primary. Kevin mccarthy winning the leadership position. Meantime, representative Steve Scalise will assume the House Majority whip. John, tell us what the transition to Kevin Mccarthy means and how we should feel about it. Nothing much. He is a slightly considered a slightly more moderate flavor of conservatism than eric cantor, but he is very hard to dissect the differences. He has a more affable personality. Just a few terms from california. And he also reflects a preference for stability. With eric cantor guesting ousted, you had the potential for the caucus being torn apart, given the conflict that theyve had internally. What you had was john boehner remains the speaker. They moved the number three up to number to. In the whip race, steve ska lease represents a conservative in leadership from a red state. That was a knock against peter roskam. Youve got john boehner from ohio and Kevin Mccarthy from california which is very democratic, some of the conservatives and a party based in the south said hey, we want someone from a red state. Steve scalise is that person. Well see whether they will competently do their business for the rest of the year. Everything else is lining up favorably for them in the Midterm Elections. Is there any chance that as a result of this we can have real any kind of meaningful change or pass along washington . Unlikely. It is a smooth transition for republicans that you might not have expected nine days ago. Youre swapping out eric cantor, who, you know, really wasnt as popular guy who had taken on a lot of baggage and some would say was the glass chin of the childrens. Kevin mccarthy is a popular guy more of a silicone valley guy than a wall street guy. You have a new look for the party. Youve incorporated conservati e conservatives more. I do think Steve Scalise will have to basically incorporate into this Leadership Team which is still a continuity message, more central to navigate a lot of issues. So scalise will have to get on board and be a liaison for that 70 of the caucus which he used to lead in the republican study group. But i think all in all, the other thing is, republicans get about this new Leadership Team, the new members get about five, six months to transition and get a little onthejob training. And then theyll have to run again. I dont think that there are any issues that are really going to come to a head, that are going to cause a testing, so to speak, of the term that will hurt wall street. As john may have mentioned earlier, the highway funding issue is one that could be a challenge because they need an offset of about 10 billion to 15 billion. John, does ing. Can i just point out one other thing . Yes. Kevin mccarthy is a former Small Businessman. Started a deli in california before he went into politics. So hes got he can talk to Business People fairley effectively from experience. John, totally off topic, scott walker, whats going to happen here . It doesnt sound to me like the case against him is especially strong. Prosecutors have made some allegations, but i would not expect that this would i think this would ding scott walker, the release of what prosecutors say happened, but i dont expect him to be in serious legal jeopardy. Does this matter at all in terms of grandly to the Republican Party . That one of the best candidates for 2016 is having some legal issues now . Yes. No. 2016 is a whole nother set of problems. By the way, id add that Kevin Mccarthys county is the biggest oil pricing county in america, so he speaks oil. And scalise is actually obviously from louisiana, he speaks energy a lot and opposes the ethanol mandate. Lets leave it there. Chuck, john. Coming up, were going to talk about apple and whether a watch is really on the way. We keep saying it is, but maybe its not true. I dont know. Are the rumors true inspect hopefully well have an answer. The timer on that story is your days executive edge. Also, the latest edition of talking squawk box. It is now officially out. Go to squawk. Cnbc. Com to read about joe oiling on the daily show, becky losing her breath on live tv and andrews nightly cocktail hour schedule. I dont remember the nightly cocktail hour schedule. I think that was a late add to the script. I dont know about that. Plus, we put joes face on larry finks body. You dont want to miss it. If youre living with moderate to severe crohns disease, and it feels like your life revolves around your symptoms, ask your gastroenterologist about humira adalimumab. Humira has been proven to work for adults who have tried other medications but still experience the symptoms of moderate to severe crohns disease. In clinical studies, the majority of patients on humira saw significant symptom relief, and many achieved remission. Humira can lower your ability to fight infections, including tuberculosis. Serious, sometimes fatal events, such as infections, lymphoma, or other types of cancer, have happened. Blood, liver and nervous system problems, serious allergic reactions, and new or worsening Heart Failure have occurred. Before starting humira, your doctor should test you for tb. Ask your doctor if you live in or have been to a region where certain fungal infections are common. Tell your doctor if you have had tb, hepatitis b, are prone to infections, or have symptoms such as fever, fatigue, cough, or sores. You should not start humira if you have any kind of infection. Ask your gastroenterologist about humira today. Remission is possible. Welcome back, everybody. Right now, its time for the executive edge. Apples first smart watch will start in july. Apple followers have dubbed it the iwatch. The commercial launch will come as early as october. What do you think . I dont know. Its going to be 2 1 2 inches across. Thats big. That is like the samsung watch. Wide . Thats a big watch. So i my two questions are does anybody want to wear a watch that sooidz size . The other question is i have my jawbone on right over here. Do they go out of business if these guys win the game . I assume that everything thats in the watch is because you can have it all if one thing and you agree to wear it. Youre right, i need to see it first. I need to see what it can do and how big it is. Im going to have supposedly wireless charging. But that could be the winner of the game. Charging everything is i dont know. Do you guys wonder if were getting to a point, and maybe this is just me, of tech fatigue . You know, youre always attached, youre always charging, youre always plugging everything in. For me personally, i almost want to pull back a little bit as opposed to i think its a steady march. Its just you. I dont know. I know a lot of people feel the same way i do. And to have something thats literally physically attached to your body thats deeping, buzzing, youre at dinner with your family, daddy, why dont you Pay Attention to me any more. Im not necessarily saying i want a watch, but im not giving up my phone anytime soon. Let me tell you guys, also, a u. S. Judge says she has concerned about approving a 325 million hiring settlement involving apple, google and two other technology companies. The lawsuit accused those companies of conspireing to avoid poaching each others workers. The interesting thing is, the judge has concerns because shes worried it may not be enough money to take care of everyone who is part of this claim. So i happen to agree with the judge. I thought this was pretty egregious, the evidence was pretty egregious against the i had actual emails. The emails were not good. There was nothing good about this situation. However, traditionally, when a settlement is reached, its very hard for the judge to then say the settlement itself was unfair. We just saw this happen with raykov. In new york, whose decision, he tried to block the citigroup settlement and the appeal escort said you cant do that. You cant get involved in the settlement is effectively a contract between two parties and, therefore, this becomes very complicated. Silicone valley operates differently than the rest of the america. Can you imagine if this was two airlines talking about their pilots. Silicone valley just kind of does what it wants. You know that old saying . Its better to beg for forgiveness than ask permission. The rest of the planet does its thing and then silicone valley does what it wants and apologize is later. What was g