Nasdaq down by about 20. Lets get to the other story of the morning. Charter communications buying Time Warner Cable for 195 in share in cash and stock. That deal is about 55 billion. They rejected charter last year instead going for the comcast transaction. Todays news comes after months of speculation and after contrast dropped its 45. 2 billion merger agreement over antitrust concerns. That transaction was blocked but time warner looking like theyll get the better deal in all of this. We all looked at the comcast deal and said are you crazy youre going to get nothing when this is all over. 2 billion break up fee. But more than that you get a much higher price and a much greater likelihood that this deal will go through although rich greenfield had a very interesting comment this morning, i dont know if you saw it which suggested that while everybody thinks this will go through if people know im going to get it to airlines joe so watch out, if the government was wary they allowed them to get bigger and bigger and bigger and people knew they were getting credit check to some guys if you dont want to ever allow that to happen you go and block this deal. So im not sure this is going to pass so quickly either. They said much better. Much better chance than before. Chances for comcast was 90 when it started. So theyre saying its much better. They said the same thing about the comcast deal. The comcast deal was a slam dunk right from the very beginning until it wasnt. All im suggesting is this deal is much closer to a slam dunk than that deal was because what youre creating is actually the good news would be to have competition for comcast on the broadband side. That would be the value proposition. That would be what people werent considering when comcast first announced the acquisition. It was about the Cable Properties didnt overlap so it wasnt going to be a problem. I dont listen to what people say about whether its going to be a slam dunk or not. That was supposed to be a slam dunk too. This is a slam dunk. Nobody knows and i think that all the people with horses in the game ought to start saying no no, no. Except wheeler said there may never be any more mergers and they called to say if you guys want to do this doesnt mean were not going to let anything happen. They put this together almost. I still dont understand the other story. Hes calling all the different parts here and saying dont assume were against all of these things because its probably in the best interest for broadband and for the delivery. Youre stuck with Time Warner Cable though. So yeah so the lousy part is im in new york and by the way, charter, not so great. From what i know. Nobody loves their Cable Company. You dont deserve comcast and i hope you never get it. Thank you, joe. Youre welcome. Charter does not have anything like x1. Woif liked to try that in my home. Youre going to. I have it on ten different boxes. Youre trying to make me jealous. Its spectacular. Theyre real and spectacular. Nice. Yeah like he said. Me oh we have a programming note. You dont want to miss Charter Communications ceo thats going to do that at 7 30 eastern time. Among the other stories that were watching today, twitter has reportedly been engaged in an on going talk to acquire flip board. A deal would reportedly value flip board at more than 1 billion. It effectively takes all the content and its customized to you. Tweet deck. Thats owned by twitter. Flip board is a different product but would put them into the display Advertising Market in a big way. What happens is you flip the pages and you can see little tweets headlines. Thats different than the display advertising model. Yeah and the guy that runs flip board is a very well respected guy. Some people say he could take over later. Theres been questions about whether he should be running the company or not. I think hes been a pretty good ceo in a tough environment. Theres some things to do. There were certain people that said lets just chill on the electronic crap. I didnt tweet all weekend. I tried not to look at tweets. Its a beautiful day. Go outside. Do something. So i dont know. What magazines . Twitter . Flip board. And this is the tie up its an app. We called this tie up tuesday. Like 50 shades of grey. Whats wrong with takeover tuesday. We can do takeover tuesday. Takeover doesnt imply. Wedding wednesday. Wedding wednesday. We already did that. We said we couldnt figure out what thursday was. Fusion friday. Fusion friday. Becky came up with throw it together thursday. It sounds like it didnt have planning into it. But many of these dont. Depending on the deal it might work. General motors is going to Face Criminal Charges over an ignition switch defect linked to more than 100 deaths. They still need to discuss key issues with gm including whether theyll need to plead guilty. Greece threatening to default on loan repayments it owed the imf. The greek interior minister says theres not enough money to pay pension and wage bills next month also to reimburse the imf if a bailout deal isnt reached with kredcreditors. Some day it will come down to the wire. Were there. Were there. We can barely get by on the 100 Million Euros they owe on a daily basis. Quickly after that well quadruple. Youre talking about big payments happening in a number of days. Im surprised the markets havent reacted more strenuously. The summer is coming. Im feeling summery. Memorial day does that in addition to making us all you cant really say happy memorial day either. Its a solemn holiday. It is. But we were fortunate to have amazing weather. At least in this part of the country. A number of key economics are due. Also home prices new home sales and Consumer Confidence and no day is complete without a little fed speak. On the docket jeffrey lacquer talking about Financial Stability in an event in louisiana. Also in Washington News the Supreme Court will be announcing decisions later this morning at 10 00 eastern. Were waiting on a number of verdicts including one on obamacare. By the end of next month. I like very interesting the way its being characterized. I love the huffington post. Republicans got a big problem. Big problem. Big problem if the Supreme Court goes with the republicans that want to defund obamacare but if they do win they have big problems because they have already given the entitlement to 11 million people. How about we saw the news last week showing that many of these premiums were going to double. But if you look at people that arent subsidized they have already gone up. Why dont you think its a big problem . Why oudo you think its a big problem for republicans . They want to defund obama. 49 is for obamacare. Once this happens youre going to have to deal with the pr of these people losing the entitlement. Theyre saying we gave the entitlement out to make sure that you could never go back on this and now if you do try to go back which is what you voted 50 times on in the house, if it does happen the media is getting in concert with the liberals that want to make sure i thought that this was the New York Post saying this i said huffington post. Oh i thought it was the New York Post. Everybody is saying it but the lead story, is republicans got a big problem if this happens. So they better hope it doesnt. So the Supreme Court better listen and better not do this because theyll only be hurting the ones that they love. Lets check on the markets this morning, the futures. Futures right now down 38 points. Not sure why were feeling a little bit today. I think that maybe it has something to do with european markets. Well check those in a second but down 38. Nasdaq down 18. Theres whats happening in europe at this point. Only greece is doing better but in the low 800s. I heard the most important market i heard 109 today. Is that the euro . Theres two of those. Theres the asian markets. I saw one person that did not decide to take a twitter holiday was jim and i saw him saying this morning whats the deal . Why dont we ever key off of european markets early in the morning . Lets look at oil thats been around. Sort of seems like its comfortable around 60 as far as west texas goes. The ten year after some strong numbers that we saw on friday got back up close now its back down to 217. I thought it was up above 220 but its on 109. See, 10904. In your direction. I think 95 is a good target. Depending on what happens with greece you might get your wish. Youll see but 109 is better. That does put things on sale right now over in europe although some weird stuff was happening. The eiffel tower was closed down. Did you see that . I didnt. It was some bizarre reason. I saw that. It was bizarre. It was a security thing. If you go to europe you better keep your. Youre wearing a fanny pack right . A special belt thing. What about that murse that ive never used. Youre a fanny pack guy. Those around your waist. Put it right here. Or you can put something around your neck. Pick pockets havent found a way to do this. Well youre more likely to notice. There was a protest, a strike by the workers at the eiffel tower because there were too many pick pockets. Right. It was a strike by the workers that ended up shutting the whole thing down because they felt there were too many pick pockets at the eiffel tower. Were they pick pocketing the workers . Or tourists. I havent visited the eiffel tower so im not aware of the specifics. The pick pockets are going after the tourists. No the workers. They were pick pocketing the workers . Yes but probably after the tourists but my understanding is there was a band of these pick pocketers pocketers. Ill get you more information. Band of pick pockets at the eiffel tower prompted workers to close the monument. Why would they pick pocket the workers . Its a stupid tourist Walking Around, a fat american tourist Walking Around getting pick pocketed. And tourists but workers too. Three and four. We have to study up on this. Why dont we talk about the u. S. Markets getting back to business after the long holiday weekend. What can investors expect for the year ahead. . Lets ask the chief Market Strategist at American Financial and global head of Investment Strategy at Barclays Wealth and investment management. I want to ask you, there are a number of things that i was thinking about over the weekend. First was whats happening with greece which seems like its sneaking up on us even though we knew the deadline was coming. Second will be the massive premiums being paid for some of these deals at this point. Charter paying a 23 premium over what comcast was going to be willing to pay for time warner. I heard about private equity deals where private equity guys are saying forget about it. Were not going to play these markets anymore. How do you feel about things as we head toward the summer . Theres certain parts of the market right now overall the market seems to be fairly fully valued or the u. S. Market. There are pockets for sure that are bubblelike, certainly in the private equity space. But there are other parts that for a stock picker would still be interesting. We moved from a beta play now to more of a sock pickers play. Were in that part where were transitioning. With respect to greece the real question is games up. Is it game over . And the fixes are pretty straightforward here right . They need to cut a deal. And without a deal its over right . Theyre out of cash. Right. Well compaq to some of those stock picks that you might like in a little bit. But lets focus on greece right now. We know the deal has to be cut. Where do you think the market stands in terms of expecting a deal or anticipating things might fall apart at the last minute . The base case is that a deal gets done. It probably wont resolve the major issues of labor reform and pension reform. It will probably be an interim deal that buys them more time. And i think you see that reflected in the rather come place complacent equity markets in europe right now. Yields are moving higher particularly in greece so its starting to make some people nervous but were going to find out in the next as you pointed out earlier in the next two weeks these big bills are coming due so well find out what happens. I think a deal gets done an interim deal an it postpones the day of reckoning a little bit longer. David interesting that you point out whats happening in the bond market. Particularly whats happening in the greek bond market so the yields have gone up but they still arent near the highs in april. Theyre nowhere near the concerning levels we saw a few years ago and theres an article this morning that points out that maybe its really hard to get a read off of the bond markets at this point because only about 10 of it is private investors when looking at the longterm bonds. The rest have been picked up by the public sector. Theres not a lot of volatility there and i wonder if its as effective of a way of reading the markets as it has been until recently. You raise a good point and thats exactly correct and youre seeing some strain there but not in the equity markets at all. Theyre following more the direction of the euro which has been pushed back down by the accelerated activity of the ecb last week. Pushed back down by Janet Yellens comments on friday that were probably going to get a rate hike this year. She reminded us all so i think that, you know thats really what is driving euro zone markets right snounow is the euro. Its saying greece is the issue but not the major issue. Let me ask you both if we dont get a deal on greece as you mentioned, the market is probably expecting at least some majority of the market expecting well get a deal. If we dont get a deal where do we see the fall out . Only in european stocks or european bonds . Do we look at the u. S. As a safe haven at this point or does this erode confidence . I dont think its that issue but you will see a tremendous flight to safety reflected in bund yields and coming down in the u. S. As a safe haven but i dont think it is nearly to a laymen type event. I dont think its a systemic issue for the euro zone. Even the weaker partners beyond greece are in much better shape than before. Greece is only 2 of the euro zone economy. So it will be a problem. It will be disruptive in the longterm but not that type of event. What do you think happens if theres no deal with greece . If theres no deal yorks think much. It will be a flight to safety. Treasuries will benefit. Dollar will rally. U. S. Markets probably this probably wouldnt be the catalyst for major correction and they probably get hit shortterm to the extent that it would have a spill over effect. I dont think it would be material. You know policy makers are already looting a two stage or two tier euro with greek being eurolike if you will so i think the euro zone of 2011 is not the euro zone of 2015. Very quickly, an area where you think maybe stock pickers see value. A place where you see value. If were right about the geopolitical backdrop especially in the middle east Energy Shares look particularly interesting. From an economy perspective, 60 to 80 based on the core economics and geo politics i dont think its priced at this juncture. Especially when you look at whats happened in and around saudi arabia over the last 30 to 60 days. Thank you for coming in today. Its great to see you too. Thank you. Coming up when we return the race for the white house is about to get even more crowded. John harwood is going to introduce us to a man hoping to give hilary a run for her money. But heres a look back at this date in history. Its part adrenaline and part adventure. Its part geek and part chic. Its part relaxation and part exhilaration. Its part sports car and part suv. And the best part . The 2015 gla. Its 100 mercedesbenz. Welcome back. John has been catching one the candidates in his series. He sits down with Bernie Sanders. We have taken over this place a little bit, huh . A little bit. Good to see you. Good to see you. Where are you sitting . People on wall street people in business, some have even likened the Progressive Democratic crusade to hitlers germany hunting down the jews. What do you think when you hear stuff like that . Its sick and i think these people are so greedy. Theyre so out of touch with reality they think they own the world and the idea that anybody like me or anybody else are challenging them. Maybe theres something wrong with 99 , oh this is hitlerism. What a disgusting remark. If you have seen a massive transfer of wealth we have to transfer that back. Radical socialist dwight d. Eisenhower was president and the highest marginal tax rate was 90. It was 90. When you think about 90 you dont think thats too high. Hillary clinton and bill clinton in the last 16 months made 30 million making speeches. What does that kind of money do to a politicians perspective on the struggles you were talking about. Theoretically you can be a multibillionaire and very conservative about working people. When you hustle money like that you dont sit in restaurants like this. You sit in restaurants where youre spending hundreds of dollars for dinners and thats the world youre accustomed to and thats the world view that you adopt. Im not going to condemn hilary and bill clinton because they made a lot of money. That wealth has the potential to isolate you from the reality of the world. He kicks off his campaign from a rally today where he once served as mayor. I talked to a Hillary ClintonCampaign Official said that he has a ceiling. But he says we take what he is doing very seriously. So well see how this develops and how aggressively he makes the case against Hillary Clinton. Are they just being generous, john . No i dont think its just being generous. I dont think they believe sanders can beat them for the nomination but when you get a candidate challenging an overwhelming front runner to the extend that they build up a following that they can put pressure on the candidate they can effect the conversation and their options. But when you argue that Elizabeth Warren is going to effect the conversation more than sanders will running. T