the green as well as we sit two days now from the end of the quart quarter. our road map begins with the markets and good economic news on the personal income, and economic benefits and may give the bulls more room to run, but could the fed speak today put a wren inch the rally? >> well, the clear wire rally is over. and now what is dish and charlie ergen going to do having dropped out? food and shelter and two earnings coming out, conagra and k.d. home. >> and boeing ceo opens up to jim cramer about the dreamliner battery debacle, and here what he has to say. that we will have coming up. >> what a show on "mad." we can't wait to talk about that. but first, the dow is poised to open after the triple-digit rally yesterday. and we have had the most trading in a month since 2011 and wall street is bracing for comments from the federal officials including the fed chair of new york dudley. if there is a spokesman for bernanke other than yellen, it is dudley. he is supposed to talk about the regional economy and the job market for college grads, but you never know. >> look, i worked at goldman and dudley is a good guy, and a goldman guy, and that does not necessarily make him a good guy, but -- >> not necessary willy connected. >> but maria has lloyd blankfein, but he speaks the language that is not upsetting. he measures the words and knows whether to roil the market and he has not. so i find him informative and not ideological and i look forward to what he has to say in terms of making a world view. when he says that things are okay here, and we certainly didn't mean to derail the economy. the fed is all over the newspaper and i was waiting to see the bergen wrecker, and if bernanke called them in the philadelphia news, and the big win by the phils and bernanke is worried about the economy, and he is everywhere today and it is the unknown call they do, and the background call. you have gotten many background calls on your life. >> yes sh, but not typically one fed. that is one that i don't get, and there are others who do. >> well, when they happen, you tend to want to go out to say, hey, i think that the fed is wor worried and then you say, this is not the greenspan fed which did not care about the consequences, but this is the bernanke fed, and they don't like what they did, and what happened. that is my take. that is good for the stock market. >> last night you compared the fed and said they went into hamlet mode where you can no long er buy everything whenever you want, and now you have the make choices, specific choices and without a lot of room to run. >> right. they made it so that there are a lot of stocks that are neutral that you were excited about. remember, the longest period where you could buy the soft goods and the consumer products and the industrials, because it was game one for everything. and the real estate investment trust, but just for a couple, but now what is not sold here is very good. i concluded the memo to regina gilligan my unbelievable producer by switching barred metaphors by saying that all is well that ends well. >> to a different one? i am going to shakespeare this evening. >> you are? what are you seeing? >> "comedy of errors." it is supposed to be good, by it is supposed to pour. let's move on and i don't mean to take it away from the market. >> and if there is not room for shakespeare, there is room for nothing. >> brush up on the shakespeare. is yesterday setting a new trend? have we put in the bottom so to speak at least? >> if you look at the 10-year, yes. go back one week from today, and this is the 10-year from hades, and the 10-year had moved more than it had in two years. and what to focus on? bed, bath, okay, and conning a rashgs a -- conagra and kb is not that bad, and so if you are not possessed by the 10-year. and by the way -- >> and what about the earnings. >> and how about europe? the big bank deal, and we don't talk about, and you remember when the banks were on the red hot griddle and now they have a bank plan and italy does a big bond e de bond deal and it is pretty good, and remember when europe was a problem before it bottomed? >> yes, i remember that well before it bottomed. >> a nice surprise. >> the german unemployment comes out about quarter of 4:00 and i'm working out and i am saying, what, they added 12,000 jobs and i thought they would lose them. >>ly call the german report with the france confidence, and not good. >> should they be confident? they have a government that is the envy of brazil. did you see the protests dying down in sao paulo last night? well, they woke up. >> that is incredibly important the protests, but what has been going on in the bond market and the stock market is also equally, if you care, disturbing. >> well, a lot of the protesters say, put in a wealth tax. they are -- they are like government buy, and they are like one of the great growth markets. >> yes. it was. >> and how many people are building a profile built on the brazil and giant economic engine. >> and same way of australia, and another booming china. >> yes. and let them meet the olympics, and these countries were boomt countries and now we are compared to brazil. we don't have 1 million people in the streets. and we don't protest anything anymore not even keystone. >> we are celebrating a lot of people celebrating the decisions out of the supreme court. >> i thought they were. >> and you mentioned earnings, and really going to start in a week or two. >> oh, man, we will have to gear up with that call. >> and the earnings growth is 3% a year ago, 15%. >> i mean, i was going for the comparisons and there is one company that i saw that was going to be decent, but it is going to be tough to beat last year. i think that one of the thing ths that we will be looking for just in terms of the shrinkage of the pool of stock, some industrials will beat it simply related to autos and aerospace will beat it and some companies will do it. but we have to raeally worry about the retail, because this, i know it sounds stupid, but this weather, and if i have to hear about the weather one more time. everyone. like monsanto gave you the weather forecast. >> and the sentiment is not as strong as a while back and so maybe there is not as much momentum as possible. >> conagra had 60 cents on the operating expenses that beat expectations, and companies known for healthy choice and chef boy are dee. and k.b. home with losses and above estimates as well. the news on conagra, is the consumer groups back to positive growth? >> well, one of the tech innovators of food that comes up with new iterations, and he is a terrific ceo, and they come in with skyrocketing inflation, and talked about it on the air, and it was willing to be so honest as to hurt the stock and has inflation under control, and the corporation additive working. >> they lost a potato customer. >> but mckessen says the same thing. the industrials there is the quick serve restaurants. so everybody is having a problem with the industrials. paychecks report that still not a lot of new businesses created. i was joking with david that you can pick up a mosaic here which says that, you know what, they are not, a lot of the companies are not starting a new, and therefore there is not any new cafeterias or spending at the restaurants like we thought, and it is a little muted and then paychecks are saying more pay checks per customers, but not a lot of new customers. so it is saying that we won't get past 2.5% growth and bernanke should be worried. >> interesting of the first page of the journal businesses stung by higher rates, and tearic saying that he is worried about it. >> and memo to terek. good. >> and rates are incredibly low, but they are up sharply perhaps the lowest borrowing rates are gone, and you won't get them again, and to the extent it has he helped the earnings so much, and the ability to refinance for example and simply take the money that you would have been paying in interest costs is going to be gone, so one does wonder how much earnings at these companies have benefited just from the cheap money that we have seen work in so many ways. >> and we will see about kb homes, and they open up big, and then at one point an executive says that higher mortgage rates are not necessarily that good and the jaws drop, shocker. there is the element, and the sticker shock element. i am speak iing to alan mulally from ford, do they have to incentivize more and that hurts the profit margins. >> dish network by the way, moving on has withdrawn the offer to buy. there is a look at what is coming up on "mad money." >> every now and then. every now and then, you go for the trifecta. >> not a surprise that dish network is going to withdraw the offer to buy clearwire and nemt telewon the support from clearwire and they signed voting agreements and i told you that once you tell the minority agreement signed it was over and done with and the real question is what does charlie ergen and dish, the company he controls do? by the way, that is fueled a great deal of speculation amongst the investors that i speak to on a daily basis and weekly and i speak to many people, but the question is does dish try to sell spectrum? when you look back at the original tender he made for clearwire, the second sentence and here are the possible deals that we will go over. our goal is to monetize and commercialize our spectrum. that is still the goal. that is the goal. and the question is, how do you do that? do you sell the spectrum to at&t? that is a way to monetize it. could at&t do that deal? probably, but there are questions of the caps and they say that clearwire and sprint together, they have more spectrum and hence we can go up, but issues around it, and do you sell the entire company to at&t and i argue that is unlikely, but many believe that randall stevens at at&t would be willing to entertain the possibility. do you do the incredibly beneficial deal with directv that would have enormous sin r jerer jis that would then fund the commercialization and build out of the spectrum, because the synergys would be so enormous that you would have a lot of cash to do that and the anti-trust is the key one, would they allow it under the obama administration? >> something has to happen. you don't go through the big thing raising the money, and making all of the offers and then say, well, that is fun. now i'm going to go ski iing. >> well, he has the spectrum there not being use and the time line and he has time. and the other question of course is that we have watched the shares of tmus, t mobile, and does he try to do something with the germans and get ahead of what is still may be the play in the next play on banks off of sprint which is to do something with the germans and tmus which is t-mobile. >> that would have been a dog. and you are calling them tmus is what it is, but t-mobile. >> they have come alive just on the take of the talk. that would have to be substantial. >> well, people may be getting ahead of themselves on all of the fronts, and we will see. i think that the germans would love to see the momentum in fwizness overall, and if you could get t-mobile together with sprint is another open one on the anti-trust front again, and at least the business momentum going into it if they were try to the do it that they would not be shunted aside as they were when they went into the at&t and then watched the business suffer when that deal got voted down. >> any time there is a directv story that they overstated the brazilian subscribers knocking the stock down, that is a well run company, but there is a large latin america component. and latin america, and the bells are going off in every country in latin america. if you do a lot of business there, you are hurting. in the meantime, dish, no. that is a pure play. >> and where if you bought a lot of bonds in korcorporations in america, you having some real pain. >> and the business today is about bond mutual funds and equity funds. >> i wish that bernanke would have said, guys, you don't need to be in these, and i wish that the fed would explain to the everyday investor. >> well, they are looking for yield. the one good thing about it is if you are in a fixed income, you are getting a little bit more. you have to find the yield. >> can i say that one of the great stories is that suspending the diabetes information, and remember that she went and ate tons and got diabetes and then tried to profit from it? this is a horrible disease. just playing it out, because sometimes i read the ticker while we are talk and say, wow. what do you think of the story? >> and the interview on today from the business standpoint and who knows about public opinion, but it did not help her with her partners. >> absolutely. >> and now, coming back, delivering on the dreamliner, and what did the boeing ceo jim mcnerney tell jim cramer about the dreamliner, and the battery problems and china and when you can get the next dreamliner if you ordered today. also, paypal is shooting for the stars literally. they are announcing paypal galactic, a way to pay for space-strapped tourists. we will talk about that. another nice set of numbers when when we open? we will see when the opening bell rings in about 15 minutes. ♪ ♪ ♪ [ male announcer ] if you can't stand the heat, get off the test track. get the mercedes-benz you've been burning for at the summer event, going on now at your authorized mercedes-benz dealer. hurry, before this opportunity cools off. what a lineup jim has tonight. by the way, boeing announcing it has delivered british airways first 787 dreamliner arriving at heathrow a few hours away. last night if you missed it cramer asked boeing's jim mcnerney about the problems that grounded it earlier in the year. >> did you ever worry that the battery was a colossal mistake and that you would lose orders and owe a fortune to those who stuck by you? >> nef. >> never worried about it? >> no. it was a solvable problem and a difficult problem and one that we regretted having and impacted the customers, but the response of the people in the company was to roll up the sleeves and go the work and solve the problem. >> jim, you said that he was the most impressive guest that you have had in a while. >> yes, i just think that we are having a great parade of guests, and he could be trumped tonight by mull lally and schultz and o drink could put him to shame, but he delivered a prez sentati about boeing and the thing is that when he used the term never, it was a reminder when you go back to the vortex of coverage, many of the execs might have run from this one and many of the execs might have ducked, but he didn't. he was at the forefront and when i said, come on, this could have hurt you and when do you think that you can get a dreamliner, david? >> i don't know the answer to this. >> well sh, get in line, becaus 2019 is the first one. you can read all of the stories and watch the individuvideos -- >> longer than tesla. >> yes. by a few months. >> tesla, and it is good that we confuse the two. i think that boeing presented a world view that was incredibly strong. and talking about how many airports are being built in china, and talking about an amazing resurgence in the airline, and you know the airline traffic still grew 5% in the downturn? this is a secular growth trend, and bowing is the best manufacturer bar none and i asked him about the airbus and the rivalry and i said is this harvard and yale, and he was at the harvard/yale game and he is a great sportsman and knows the sports, and kcongratulations, hawks, for hockey. and these guys are coming in to sell the planes against airbus and offering the technological superiority, and how can you not own the tostock? >> you said on squawk at par, it is still a buy. >> the runway here is so long that the company is so well managed, the orders are so great, yeah. boeing. key corporate holding, key, and i mean for institution, it has to be. >> right. >> and individuals, $100 is too much and don't be put p off by a $100 price range. >> it is a dow component. >> of course, and second best performer. >> and up in the last four days, and how do we positiontoday, an dash" is next as we get ready for the futures coming back in a few minutes. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades you open an account. 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[ female announcer ] you trust your doctor. athey wonder how much fastere justthis thing could go?be. what if i took it down that hill? what if it weighed less or turned sharper? they know that things can always be better. we count ourselves among those people. introducing the quicker, sleeker, smarter, best civic si yet. made possible by honda. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ all right. less than 6:00 before the opening bell and time for the "mad dash." we want to talk a little bby. >> the triple b and i have to tell you that this is a company that gives a clipped conference call. they don't tell you much, but this is a xaefr that was hated down here. they reported the same sales and this is why i care here, because everybody says about this company? they have been amazoned and they won't come back. and this is harmon and they are an exciting company, and with this quarter, we are not being amazon and we have a strong business and 1,400 stores and well run company, and i will tell you, david, and i have said it offline and say it now, if they don't start to get the real respect of the street, there is no reason that the company needs to be in public. >> you think it is a potential lbol company? >> yes, they have bought the shares back and well run and they don't get the respect of wall street, and wall street is tepid and putting it as a sale. one day they may wake up and say, we are mad as, he leshll a are not buying it. >> and that management buyouts. >> thinking of dell? >> yes. >> and i want to point out that this is a classic american retailer doing well, and everybody is worried. >> but it is partially homes and new homes. >> yes, in is a housing play par excel lance, and sit down a half, but if you had any fear, and i have macy's on tonight, so we will hear it, but if you have fear that the housing buying, and you know, you have a house and buy it and put stuff in it, you would not feel it from bed, bath. keep the faith. >> i will. and see whether we can do three days in a row up. we haven't seen that in a little bit. we will know when the market opens at least how we are sta starting the day. stay with us, "squawk on the street" coming right back. bulldog: oh, the dog days of summer! bulldog: time to celebrate with your mates, grill a few dogs... eh, hot dogs. bacon burgers... dashchund: mattress discounters' 4th of july sale ends soon? bulldog: that cloud reminds me... radio: the tempur-pedic cloud collection-- bulldog: that's it! radio: now with 48 months interest-free financing-- basset hound: free financing? radio: or get a queen-size sealy