Markets this morning, yesterday an upday. The nasdaq has seen seven straight positive sessions, the first time that happened since february of 2014. This morning we are flat as wall street awaits the jobs report. Overnight, in asia, take a look, youll see, yeah, asia was higher with japans nikkei up by almost half a percent. You saw gains of better than. 4 from the hang seng and the shanghai composite. In terms of what is happening in europe in the early hours, youll see right now things are up for most of the markets. The dax is up by half a percent. If you check out crude oil, yesterday, crude oil was higher, broke a fourday losing streak. This morning it is up another ten cents to 49. 26. The next fed meeting scheduled for june 14th and 15th. There is a small chance of a rate hike at that gathering, but the cme groups fed watch program tells us that the markets are now pricing in roughly 59 for the july fomc meeting. Well talk to says july or september. Hes sitting right there. He hears you. If i had only known. If i had only known. And that will be the last meeting, the july one, before this years jackson hole conference in late august hosted by the Kansas City Fed chair. Janet yellen is now expected to attend after skipping the event last summer, which at the time we said, she wanted to stay out of the limelight and not talk about what and not not really give any indication. Now they seem to want to give more indication. They want to they want to signal things to the market. Want to get back want to normalize, they finally think it might be a good idea to normalize. Right. Found religion after a long, long time. Yes. Better late than never. Yes, yes. Chicago fed president Charlie Evans says there could be two rate hikes this year if u. S. Economic data continues to be favorable. But in an interview with cnbc in london, he said the timing isnt all that critical. Since 2016, my own call, for that, if the data continues to be in line with my outlook, thats a slow and gradual increase this year. Asked whether the uks brexit vote would have a bearing on the fed hike, he said hes not sure it plays an Important Role in policymaking beyond monitoring Global Financial conditions. We hear that a lot. They all say the same thing, one month or the next doesnt make much difference. Months turn into quarters and quarters turn into years and years turn into eight years. Miss it. A lot of times you say, okay, what is the difference . Well, the difference between one month to the next is there could be some event that happens that you never know about. That makes it less likely. And with this fed, just about any event is enough to cost something, cyprus or greece or could be brexit, could be anything. And on a or grexit. If it is global, you have how many different places if youre watching every single thing, you know, every time you put it off, you give yourself another opportunity, not now, not now. Well see. But this is why were here right now after such a long time. Back to the campaign trail. Hillary clinton going on the offensive yesterday, taking shots at donald trump during a rally in california. Donald trumps ideas arent just different, they are dangerously incoherent. Theyre not even really ideas. Just a series of bizarre rants, personal feuds, and outright lies. He is not just unprepared, he is temperamentally unfit to hold an office that requires knowledge, stability, and immense responsibility. In an environment like this, and were, i guess were business and political junkies, i saw all the cable shows last night and the point is made that youve got two candidates with very high negatives. Neither candidate, therefore, is going to focus on anything other than the other candidates negatives. This Foreign Policy speech, which outlined very little of didnt really talk about her history as a secretary of state, didnt go into that much, or even the future other than to say im not crazy. The one sell point she made for her own record was in supporting the iran deal, which is still really high negatives among most people. That was Donald Trumps point. He said this wasnt a Foreign Policy speech, this was a political speech. And youre right, though. From either side. He doesnt go into the issues either. Get ready. Five months of this. Next week, the 7th, i think, tuesday primary . Tuesday. Is it already. Yeah, it is. Yeah. California. New jersey. Garden state. Clinton and her rival Bernie Sanders are neck and neck. If you look at people that will vote in california, it is tied. 1. 5 new democratic primary voters have registered. Hard to a quagmire to get through. It is hard to get shes got a big lead on the people that have already voted, number one. It is hard to it is one of those nonpartisan where you can go from you dont necessarily need to be, but one of the other several polls have now put them within two points. But then when they ask are you going to vote, the ones that say they are going to vote, shes up by ten. Bernie is a lost cause, i think. People love lost causes. Even if he wins california, he still may not have enough by the way, it is not just super delegates, more voters who have turned out, more of the delegates. Turned out too. Super voters people love the idea of a lost cause and a lot of times people will it is amazing to me how often people will attach themselves to a lost cause. By definition, it is a lost cause. A lost cause is the guys never won in a lost cause, have they . You know it is a lost cause going into it. And then they always lose and youre with them, but with them for david versus goliath. Well, maybe it happened then. How long ago was that . In the 1500s or something. No, before that. Paul ryan making his decision for the november election in a tweet. He says he will be voting for trump saying hes confident trump will help turn the houses gop agenda into laws. Thats interesting too. Because it was an endorsement and donald trump said were great, i love paul, im glad hes behind me now, but hes more or less saying i arrived at this decision because this is the house the house is going to dictate which way the Republican Party wants to go and these are going to be the initiatives that we pursue as a Republican Party and we think that donald trump is the best guy to help us pursue what were going to set as the agenda for the Republican Party. Which is the same thing that Mitch Mcconnell toll us thd us, thinks the party is going to change donald trump, not that donald trump will change the party. Still clinging to the notion, well sort of be let bygones be bygones with trump. Were going to talk more about the road to the white house. Love this guy. Excited to have him on. Brian fallon in next hour, squawk box, this guy, man, number one, i want to ask him where did you learn to be hes very good. Im telling you. Where do you learn to do that . It was a scathing Inspector General report and i watched him with wolf blitzer and i dont think wolf really wanted him to not have the right answers. Wolf was, like, sort of i hope you got answers to all my questions because, you know, where wolf stands. Anyway, he was so great smile, waits for people to talk, answers, but doesnt really answer, comes out with a really good hes amazing. Im just going to be in awe and just talk to this dude. We have him coming up in about an hours time. Didnt do quite as well with brett bear, didnt have the same smile. Is he here yet . Probably. Anyway, just gave him a lot of praise. Youre good at that. Thanks. You look great today, by the way. Thank you. Youre glowing. You know youre glowing. You know what that is code for. Pregnant. Fat. Right. Lets tell you about a developing story in texas. Massive flooding in the Lone Star State claiming more lives. Five soldiers are dead and four missing after a military vehicle was swept away by fast moving floodwaters during a Training Exercise at fort hood. No break from the rain ask. The New York Post reports that twitter met with yahoo s management several weeks ago to discuss a possible merger. That is thats like staples and what is the other one, the two that arent going to be around much longer . Office depot . These two, two drowning guys. The paper says Ceo Jack Dorsey didnt attend and his company appeared more interested in getting more information out of yahoo than it was in really . Second round bids for yahoo s core internet are due. Verizon expected to be the frontrunner because they got Tim Armstrong that could maybe do something with this company if he put it together with all, maybe. Apple says all its Services Including its app store resumed following an outage yesterday. A Company Spokeswoman declined to comment on the nature of that outage. Lets check open the markets once again. As we showed you, the futures are flat. But yesterday was a positive session for all three of the major averages. The dow closed up by about 49 points. It is now just about 2. 79 from its all time intraday high, which hit back in may of last year. S p was up 6 points, highest close since november of last year. And the nasdaq as we mentioned is up for the seventh straight session in a row. The First Time Since february of 2015 when it had a tenday winning strike. Europe as we showed you is looking mostly higher this morning with the dax up by half a percent and the ftse up by 1 . Asia closed higher overnight as well. Again, half a percent gain for the nikkei. The hang seng and shanghai composite up. And oil broke that losing streak, seen four days in a row of down days. Yesterday was higher. This morning it is up another seven cents to 4924. If you want to check out the tenyear note, the yield slipped yesterday. Lets look at currencies, youll see that at least at this point, looks like the dollar is up across the board. Euro trading at 111. 43. Yen at 108. 97. Gold prices, which were down slightly yesterday, looked like theyre up by about 130 today. At the low, the recent trading range goal. Recent, yeah. Good time to buy this . Youre on this gold kick. Im not a gold fan. Dont have to be a fan. You can put 1 of your i wont put 1 of my money in gold. 1 . I wont put anything. Should put 1 . You think so. I dont want atfs and dont want physical gold. Ever held a maple leaf. Heavy. Not just heavy. 1 in maple leaves. They open up one of those chests they get from sunken ship and it is all gold, ever seen the way youre like, gold, gold there is a reason for 4,000 years it has been 8,000 probably. Why is it irrational though . Im not interested in holding hard assets what is rational about paper . Rock, paper, scissors. I just im not interested. We got to introduce the guests. Producers inserting himself into the okay, all right. All right. Took him a while. Were just were just over two hours away from that jobs report. Lets bring in michelle and jason. Michelle, i like blue. Blue is nice. Okay. Thank you. These guys and gals, they have done back flips to say maybe it will be june. But it never really was she said in coming months and i think that is a signal for the summer. The debate is i think in most peoples minds is it june or july. And it is all about, you know, brexit. I think most people feel like this is a fed, particularly janet yellen the last several months, talked about a Risk Management approach to policy, better to be cautious, better to move too late than too soon. Against that backdrop, with this vote, the way this what is the rush. Figure this out, though. So they dont leave. Then they could have done it in june. If they do leave, you cant do it in july. Just do it a lot of i hear this from a lot of people, but i think this get becausing to where Janet Yellens head is. If they dont go in june and we have brexit or Something Else that prevents them from going in july, i dont think janet yellen is going to say, darn, i should have taken the opportunity. You dont care if it is july or september. Youre a wimp. No. I dont know if im a wimp. But i just think i just think that the i just think the risks are you say are asymmetrical. Quarter point . Asymmetrical . If youre janet yellen. Were not arguing for something normative that i want necessarily. I think they should have been tightening a while ago. That anxious. I think she is. I think janet yellen, my feeling is shes very is that okay . Shes the fed normally is late anyway. Janet yellen wants to be late. Shes already late. So i think another month from her perspective, i think if the economy runs hot, if people get higher wages, i think shes good with that. I couldnt agree more with jason. If they cant go in july, shell view that as validation for not shell say thats exactly why it was good not to go in june, if something happens and they cant go in july. I think it is the mind set of where the fed chair is right now. Both making the same assumption, staying at a quarter point or staying low it can help with the economy. Number two, there is no adverse effects from staying at low im not saying were trying to figure out what im trying to get what she thinks. Criticizing her. I am. Will you take it easy. In terms of it goes back to the gold situation in a way. I would say you are at the point now, mercifully japan is making the mistake that hopefully allows us it avoid the mistake theyre making, to say that japan is finally showing you the limits of low Interest Rates. And actually the fact that low Interest Rates are actually deflationary. Manifestly deflationary. Amount of global sovereign debt with negative yields, see that number . 10 trillion. The knock against gold always has been it has got no yield and costs money to store. And i would say if youre a japanese saver, or youre a german saver, it is exactly like having a deposit account. I would rather have not declining in value. You have a positive carry. For the first time in 5,000 years, so in the u. S. , you know, were not quite the same, but im with you. I think low Interest Rates have been harmful. I think janet yellen a lot of money. You founded this thing. Made a go of it, huge success. You can take a little bit from the talking heads. Good, all right. Jason and i are completely on the same. I think all of us agree. Absolutely low rates here are doing more harm than good. I agree with jason. They wouldnt have been in this position had they started much earlier and been able to move. Truthfully, as much as im a hawk, i would say this is probably a time to be more cautious. There is global well, im just making the point that if you were looking at all of the opportunities that they had to move, the case to me is somewhat less compelling now than it was a year or two years ago. So thats what im i actually the airplane movie, i picked the wrong date, said it so many times over the past five years, that shows you how many times to show the point, i guess the point were what jason and i are trying to do is put ourselves in Janet Yellens head and if im janet yellen, listening to what she said, she wants to be cautious, wants to make a mistake of going too long. Let it run hot. Against that background, it seems to me, you just wait. If you wait if youre this cautious, and this sort of just to put your foot in the water, couldnt anyone be the fed, couldnt anyone just wait and wait and wait . If there is no leading indicator aspect of what theyre doing in anticipating what is going to happen and what they need to do now, even though it is not obvious, anybody could be the fed. If there is no cost to low Interest Rates, and easy money, why doesnt everybody just it is that kind of there is a cost. The problem is, what i believe is that it is much more subtle now. It is not like you see rampant inflation so easy to identify. It is corporate buybacks and Financial Engineering and savingisaving i s. What if it is the fed that is keeping us and youre both giving the fed cover. Today is friday. I think what has happened is youve largely sterilized what the fed has done by tight regulation. Youre stepping on the gas, stepping on the brake at the same time. You have all these excess reserves in the system and the federal government is suing jpmorgan for things that bear stearns did and saying, why is the average fico score of the mortgage written last year was 755. Doesnt make any sense. An article i think was it yesterday in the wall street journal about how the jumbo loans are where all the banks want to be. Those are the ones that will get that make money, thats why the velocity of money continues to go down despite all the easing. Ill vote for trump. Ill vote for trump. Jason gave me the cover. It is not a new segment. I dont know why i decided to ask. We were talking with welch and others yesterday. And there is the idea that maybe a lot of people like the intel ceo on the outside will not admit it, but you got the curtain behind you, you dont know what a lot of ladies, we hear that, you know, no women are supposedly going to vote for trump. I just dont know what is real and whats not at this point. I dont know whether anyone is really telling the truth everyone is so you dont know what the polls will be within the margins of error. You dont know who the vote hes taken Political Correctness and made it almost a that almost a dirty word, freed it up. None of us feel costabmfortable thu n this new world. I work for larry kudlow early on. And now that larry is no problem. No problem. And, you know, i think when you start some of things that hes talking about, and conversations hes having, you know, makes people this support him are saying, look, you cant do everything you want anyway. Youll have paul ryan, youll have some maybe some of the stuff needs to be shaken up and shook up and all shook up. Came right out of it. All right. Guys, some raincoats and you can pull out the thank yo guys. When we come back, climbing Mount Everest and snapchating all the way up. The two alpine athletes attempted to summit the highest peak without the aid of supplemental oxygen. Theyre in our studio with their story. Thats here next. Check out this day in history. Stop doing this. Welcome back to squawk