Injured many more. Well take you live to london for the latest. And President Trump sending a flurry of tweets over the weekend well get the latest on that. Plus the look at the executive order expected later this morning. And art cashin joins us where the market goes from here. The authorities are invest gaiting investigating a terror tabernacle in london. Lets get to wilfred frost with the latest. Good morning. Good morning, carl. So the latest from the investigation is that there have been more raids and no further arrests of the 12 that took place that yesterday afternoon. The three are described as having a Domestic Center of gravity as opposed to being foreigners and one of them had been flagged to Security Services in years past. Now this is the third attack in 73 days here in the uk. That has elicited a much firmer response from politicians. Theresa may said enough is enough. And saying that if reelected she could consider increasing antiterror powers. On that note she described the internet quote as a space where extremists breeds and she is increasing regulations on the cyberspace moving forward. Certainly something to watch if she gets reelected. Security is dominating the campaign trail today in a way that it didnt so much two weeks ago after the manchester attacks. Theresa may is hitting her main opponent Jeremy Corbyn for opposing increased powers while he is hitting Prime Minister may for Cutting Police numbers by 20,000 when she was home secretary from 2010 to 16. You cannot protect the public on the cheap. The police and Security Services must get the resources they need, not 20,000 police cuts. Well, what does this all mean for the poll upcoming on thursday . Well, Jeremy Corbyn has the momentum behind him. He is gaining. But theresa may still in the lead. That lead varying from 1 to 12 points depending which poll you look at. Guys . And the pound is higher, which has corresponded to when may does better in the polls. Well wait to see the next big ones into thursday. Thank you, wilfred frost, in london. The markets overall coming off of another historic week. The dow, s p and nasdaq posted a record close on friday. Oil prices are front and center this morning. Saudi arabia, egypt, the uae and bahrain are among those cutting ties with qatar, accusing it of supporting terrorism. When we mike and i woke up at 3 00 a. M. , oil prices were up 1. 5 and now wti is down 1 and youre hearing more and more qatar is an opec member. But the question is, does it now have to comply with the extension of the production cuts that opec Just Announced that could lead to more supply if it doesnt do that, if it tries to get more market share, maybe other companies will follow suit. Maybe questions about the opec deal coming into focus. I think the market is saying, well, theres nothing here that would increase supply discipline across opec. Who knows if it will have impact an all. But no supply disruptions unless it indense iftensifies from her a big experter and if cramer was here hed have a good deal to say. And the qatari stock market is down more than 7 . A lot of the companies will some of the liquefied natural gas producers. Well be watching qatar. The president is taking to twitter, making the case for his court blocked travel ban amid developments in the terror attacks in london. Eamon javers has more. Good morning. A lot on the president s plate this week, but lets start with Vladimir Putin of russia who gave an interview yesterday to nbcs megyn kelly talking about the interference, the alleged interference in the elections. He said that its actually the United States who has been meddling in elections for all these years. Heres what he said. The United States everywhere all over the world actively interferes with the electoral campaigns of other countries. Put your finger anywhere on the map of the world and everywhere you hear complaints that american officials are interfering in internal electoral processes. Meanwhile, the white house says it wants to focus on infrastructure this week. They have got an event later on today. Theyll talk about privatizing air Traffic Control. Look at what hes tweeting. He said, people, the lawyers in the courts can call it whatever they want, but i am calling it what we need and what it is a travel ban. That tweet from the president remarkable on several levels. One that he goes back on what the white house had been saying previously that this effort to protect the United States was not a travel ban. Now the president saying it is in fact a travel ban and putting out this statement on a day in which they say they want to cut cover infrastructure instead of the travel ban controversy. Another tweet from the president this morning, the Justice Department should have stayed with the original travel ban. Not the watered down politically correct version they submitted to the supreme court. So clearly, here the president frustrated with his own department of justice, criticizing his own administration here in a tweet. Thats remarkable in and of itself, particularly again on a day when the messaging of the day is supposed to be all about infrastructure. The president clearly this morning has something very much different on his mind and hes taken to twitter to express that, carl. It is interesting on a week where youd think i mean, in another world we would say the president s off message but he has the wright to tweet whatever he likes. And the media will cover that. The message is the medium, and in this case its the tweets. So fascinating to watch this white house say, you know, look, the media is obsessed with covering everything the president tweets. Is the line that you get often from the white house. But the president is putting out these statements that very personal, very emotional statements. They are heart felt. Its what is on the president s mind. Its often at odd with what the white house staff wants to be talking about that day. So theres this tension within the white house and the chief executive himself. A question on the travel ban, not one that i think youll have the answer to. But just curious. I went back and read the original executive order, i think it was from the 27th of january. The original one that was of course not allowed to go into effect. 90 day ban for certain countries. 120 days for refugees but most importantly it said, were doing this as a temporary ban to undertake an immediate review of our visa policies undertaken by the department of Homeland Security. Do we have any updates on where that review stands, given its more than 90 days and almost 120 . Thats a really good question. I dont have an answer for you on that, but you know, youre the the administration said at the outset that this travel ban was needed immediately. It was a timeliness issue, a safety issue for the United States. Obviously, we have gone well past the deadline now. And the problem legally for this administration has just been that the courts look at this and they take into account what the president said on the campaign trail about banning muslims from the United States and they see as i think willinged to that linked to that rhetoric. Of course what the president said on the record still exists on the record. Theres no way to go back and change that. So they have got a different legal situation on their hands. Ill check in with the department of Homeland Security and find out where they stand in terms of the process and the security evaluations they said theyd do. Thank you. That would be great. Sure. Eamon, thank you. As for the Market Reaction we were just having a debate earlier about its becoming a sort of teflon market. I just wonder how much, given it is infrastructure week and the president is going to cincinnati to talk about it on wednesday how much expectation there are at this point in the market. For infrastructure, which is supposed to come after tax reform which is supposed to come after health care which is not passed in the senate. I mean, its very hard to find really high hopes priced in directly. Into those sectors you would expect to be a beneficiaries of any of the policiepolicies. Any fiscal policy help that comes is a bonus, a kicker on what we have gotten already. I mean, the market has been very good at converting really slow growth, high liquidity and high rates into huge valuations for growth stocks, right, that dont depend on any policies. Thats been riding for a while now. But its interesting how much we seem to be attributing the markets valuation earlier this year, michael, to the prospect of tax reform for example. It may or may not happen, maybe it will be something of some significance, but its not a factor in valuation. I think that the attribution was overdone earlier in the year. We tell the stories about the numbers and the story that everybody was telling because it felt that way. No doubt a sudden repricing after the election and people said, something could get moving here and it was an inflation trade. Global deflation over, maybe we get to inflation. Then the data has come in a little bit, you know, kind of ambiguous on that. Well, people are talking about retracing the ten year. The difference between two and 2. 15 and 2 is one day, right . November 8th and november 9th. A lot happened in the hours following that election. Were still not there. Also go back to 1. 5. Friday we had the lowest level since november. When we return well talk more about the historic run for stocks. Art cashins perspectives on the market as we count you down to the opening bell. 22 record closes for the s p 500 so far if year. And Hilton WorldwideChris Nassetta reports in. Pointed lower, the dow futures are down 10. Futures are down 2. Much more squawk on the street when we return. The new guy . What new guy . I hired some help. He really knows his wine. This is the new guy . Hello, my name is watson. You know wine, huh . I know that you should check vineyard block 12. Block 12 . My analysis of satellite imagery shows it would benefit from decreased irrigation. I was wondering about that. Easy boy. Nice doggy. What do you think . Not bad. What do you think . With e trade you see things your way. You have access to the right information at the right moment. And when you filter out the noise, its easy to turn your vision into action. Its your trade. E trade. Start trading today at etrade. 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But theyre citing the muslim brotherhood, that could inflame things slightly. I think all eyes are on thursday. You have the british election. You have the ecb and youve got comeys testimony. So that would be an absolute big wild card. Markets this morning are thin and ill liquid. Most of europe is closed for a religious holiday so were susceptible to air pockets and surprises so while it looks like a slow and quiet opening, well keep an eye im going to watch oil which tried to rally on the qatari thing. But rolled over. And now threatens to break 47 which i think will bring in sellers in equities. Its been hard to get across the board gains in june for the past ten years. I think we have only done it once. Characterized june as a seasonable month. It used to be the quick followup to the sell in may and go away. But the entire october thing has not been successful over the last four years or so. But youre right, the june part of it has stood out. I think some of that has to do with the position in congress and other things, getting settled down. But for now it looks like that washington remains do nothing. So i would be very careful of thursday. A lot of potential build into that day. Referring to comey specifically or ecb or and the british election. I mean, theres an outside chance that if the gamble doesnt pay off, and you wind up with coalition minority government over there, things will be strained. That will make brexit negotiations absolutely very, very difficult. You know, when we had the identifiable days when some catalyst might be there, the market has kind of built up some anxiety ahead of it. Its not starting today, at least. The vix was no, well, as i say, i think its the markets are thinly traded today. People are coming off its been a grinding out to new record highs as sara pointed out again and again. When most of us thought i personally thought the market was getting ready for consolidation sideways phase. They kept eking it out. This flies in the face of history and seasonality to some degree. But the market is what the market is. Art cashin, thank you very much of ubs. When we come back the nyse will hold a moment of silence for the victims of the london terror attacks. Oh, not so fast, carl. Oh no. Schwab, again . Index investing for that low . Thats three times less than fidelity. And four times less than vanguard. Whats next, no minimums . No minimums. Schwab has lowered the cost of investing again. Introducing the lowest cost index funds in the industry with no minimums. I bet theyre calling about the schwab news. Schwab. A modern approach to Wealth Management. Rays always been different. Last year, he said he was going to dig a hole to china. At t is working with farmers to improve irrigation techniques. Remote moisture sensors use a Reliable Network to tell them when and where to water. So that farmers like ray can compete in big ways. China. Oh. He got there. Thats the power of and. If New York Stock Exchange will observe a moment of silence for the victims of the london terror attack in which seven people were killed. Dozens injured over the weekend. Of course as was know know, armed men mowed down several pedestrians late saturday. Its britains third major attack in as many months. [ bell rings ] [ bell rings ] [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Welcome to holiday inn whether for big meetings or little getaways, there are always smiles ahead at holiday inn. The opening bell is brought to you by brighthouse financial. Established by metlife. Youre watching cnbcs squawk on the street, live from the Financial Capital of the world. If opening the opening bell in six minutes. We had that moment of silence for the london terror attacks over the weekend. This rift in geopolitics in the middle east. Ecb and thursday really feels like its going to be the peak of the week when you have comey, uk elections, ecb in terms of news flow. Theres a i dont know how much you can hedge out of that, but everyone is pointing towards thursday. Well get services at 10 00 a. M. Today, the biggest swath of the u. S. Economy. I think especially after that jobs report on friday, there are some questions about whether that was a blip, whether it was the tight labor market and the fact that were at peak unemployment. Sure. Or signaling some sort of slowdown for the u. S. Economy. The question there is can the Global Economy keep up the momentum . A lot of stock inflows have gown to europe and emerging markets. A lot of attention on the economic surprise index which has fallen off the cliff. It was at elevated levels a few weeks ago and now its come back to earth. Yep. Well watch for news out of washington regarding infrastructure as well. Then some key pharma news out of asco. Our meg tirrell is in chicago with all the latest. Good morning, carl. Talk about news flow. Our fight on cancer coming out of asco cancer, and the new drugs that harness the immune system to fight cancer. Some of the biggest plays are bristolmyers, merck, astrazeneca and roche. Bristolmyers is down slightly. Some analysts saying especially in the area of lung cancer, the advantage may be looking to go to merck a little bit. Bristol is a little bit weak. Cowan estimates that the drugs that are pd1s they say that market will be 32 billion by 2022 and they see bristol having a big chunk of that market. As for other movers lots moving in the biotech space. As you check out tg therapeutics, theyre moving up a lot. Finally, well draw your attention to the other attention of i mew know therapy drugs, you can see that all in the green on data updates here at asco. When you think of the stocks moving, there are financial implications but theres positive updates in the fight against cancer. Pretty interesting weekend. Lots more to come. Well have the bristolmyers ceo joining us on your show. As well as others. Thank you very much meg tirrell in chicago. Well watch for headlines out of asco. There are usually one. Apples Developers Conference is going to happen starting today. Looking for key little visibility on iphone 8. Maybe hardware news. Will they try to put together a serious competitor to siri. And Pacific Crest downgraded apple earlier, a lot of the upside potential for the sentiment is in the stock. People tried to gain this out. A great performer. Historically the stock tends to top at the moment a new iphone is released. They say 10 is the price tha