Fastfood giving workers like mcdonalds, kfc, taco bell, striking over low pay. Were live in oakland as protesters make their case. Even when they say it is not, it is always about money melissa tough day for the markets. Look at that all three major averages down more than 1 . Lets bring in the panel. Jo ling kent, jack otter from barrons and James Frischling from new oak. What do you make of this market, james . Ten per is pretty good guy. He speaks his mind. I dont think he talks his book. Melissa you dont think he talks his book. That is what a lot of folks think. He knew this, he watched the market and he is profiting. I say he doesnt care. What i mean there is a time to make money. A time to protect yourself. Market alltime highs. Fed thrown everything they can including kitchen sink with this i think he is telling people to take a little money off. Melissa weve been saying it for a while. Why now . What is the tipping point, jack . Weve been seeing this already in the market. Small caps are in correction, down 11 . A flight to safety, glamour stocks, tesla, groupon, have been hammered. No surprise, the riskon trade is off. It is now riskoff. Even the big stocks. Melissa he makes a great point. Russell is canary in the coal mine. Down officially 10 correction territory from its high. Dow chemical too. Another sector to watch. Chemicals are rarely down. They were down this morning. We were talking to a couple of analysts about this theyre down 3. 4 right now. This is similar to the theme these guys are talking about here. Melissa yeah. The wage rage hits international stage. Fastfood workers striking in 150 cities across the u. S. Protests in more than 30 countries around the world taking place in support. What do you think about this one . I think this is just an example of the unrest that was kind of inevitable. Im a huge ten every fan buddy of mine, hates to trade against tepper, but his salary or his income is representative of pain that were seeing people kind of lash out against. Melissa what does tepper have to do with it . 26 guys, one of them being david tepper, make more money than all Kindergarten Teachers combined. At some point melissa what do these two metrics have to do with each other . Fastfood workers are lashing out. Melissa theyre like kindergarten teach officers. Theyre not getting paid a lot. Seeing people getting paid enormous sums of money taxed is a . Me too. I want a pies of the pie. Melissa really . Theyre on par with david tepper, jobs they can create, money they can make. Theyre lashing out what they see inequality. Im not saying it is logical. I think that is force youre seeing. Melissa real quick. Goal is admirable and unreal listtic. It will cost jobs. Werent happen. Attacking companies that employ so many Million People. Youre hitting franchisees. Not the company. Melissa thats a great point. Well hear from one of the people fighting for 15 an hour coming up later in the show. Protests could not stop fcc moving forward on internet regulations this could be a gamechanger for silicon alley and Service Providers like comcast and verizon. How will it affect consumer at home, jo . Very possible if the fcc does get the rule approved, which it has not, gets approved after entire Comment Period it could hit consumer wallets very hard. Depends on what types of companies melissa what does it really mean if what is happening . The government will get involved and try to regulate who can go faster or slower . Break it down for people. What does it mean . Fcc proposed rules that might allow for a fast lane. After the rule is proposed there is 100 something day Comment Period people including companies can weigh in on this at which point they go back and rejigger rules. Melissa according to pew research, this story really got my attention. Median net worth of College Graduates under 40, is nearly 8700. So theyre nearing 40. If they put together, do a p l for themselves theyre worth 8,000 bucks. Partly because the liability side. They have got these loans. Melissa student debt. Exactly. It is rough. Only thing you can say though, at least they have got that degree. Because if they didnt have the degree melissa i dont know. If you look at it, a fraction of the 64,700, the same age group is worth without college loans. That is college debt without college debt. Look at that. Go ahead. If they run the study 15 years from now it will be even worse. Cost of tuition in colleges is soaring. Student loan market is something we think is the next big mess. Generation coming out indebted. Housing standards are tighter. This group can not buy a home. Youre creating indebted generation. Will be a bigger mess. Melissa the problem we sold this Story College degree was ticket to success, any College Degree. So people went out and got very expensive education at colleges maybe werent worth it with degrees maybe yo a job and went into great debt. Were not saying it doesnt pay to go to college. You have to be a smart shopper. Dont pay for really expensive private school where no one is getting a job afterwards, right, jo. Exactly. That is the catch 22. Pew has done the research. Over long term if you do have a College Degree you earn 57,000 a year versus 32 thou without one. There is a payoff. Melissa be a smart shopper. Selecting where you go and afford it. And be in line how much you spend what you expect to do. If youre econ major top of your class you may very well go into business where the loan is not that big of a deal. If youre a Kindergarten Teacher dont spend melissa that got you in trouble. What can i say. Melissa you lost that. Of the. Im not letting it go. Melissa i respect that. That is another thing to add to his resume. Tv star. Oprahs network own, will produce a documentary series about his journey through training cam. What do you think of this one . I love michael sams jersey was second hottest rookie jersey behind Johnny Manziel. I dont like the documentary. Play football. Melissa big distraction, very beginning of your professional career, first thing you do have cameras following around. The resentment that builds up in the locker room. Melissa he should focus on the main job. I can hear coaches saying focus on your day job and worry about your tv job a little bit later down the line . That is certainly the case. On my first day here, you never want to bring a whole load of cameras. Youre still finding the bathroom. Where is the hallway to the studio. Melissa wheres the water . Exactly, yeah. Thanks, guys. So some sweaty palms on wall street. Billionaire david tepper sounding the alarm on state of the market. Saying it is time to get nervous about the direction were heading. Get ready for the summer of the man thigh. Short shorts for guys are all the rage even if not everyone can pull them off. More money coming up. I ys say be thman with the plan but with less ergy, moodiness, i had to do something. I saw mdoctor. A blood test showed it was low testosterone, not age. We talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. Report these symptoms to your doctor. Tell your doctorbout all medical conditions and medications. Serious side effects could include increased sk of Prostate Cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. Ask your doctor about axiron. Melissa the good times might be coming to an end here. Billionaire investor david tepper sounding the alarm at the salt conference saying that the market is dangerous right now and considering todays selloff is he right . Our very own Charlie Gasparino is at the salt conference with more. Is the reaction there as big as it is on wall street . Everybody kind of, just for the viewers should know this, fox business has been talking about this for a couple days now. This was the highlight, david tepper who runs the appaloosa hedge fund, one of the best investors out there. You know, listen the markets are off pretty wildly. If you listen to his remarks as i did, they werent as dire as i think the market is taking them. But he did say pointblank he thinks were in a dangerous period in the market. Everybody is worrying about, you know, tapering. Is that, how much of an impact that is going to have and with whether tapering matter anymore. At some point the markets impact the economy. What tepper brought up is the lousy gdp print which he thinks is not indicative of calamity but indicative of a slowing economy. He is talking about if the ecb doesnt lower, do some easing, if corporate profits dont kick in better, you know, this market can get wobbly and wobbly pretty fast. That is at least according to him. Melissa youre there for the perspective. What was the response like . Were people shaking their heads, yes, i agree with that, ive been thinking about that for a while or did people look more surprised when he said that . What was everyone like . No, i think most people, hard to tell, youre in vegas. I cant tell how many drinks they had. Melissa there is that. It was at the end of the day but listen, i was live tweeting it. The headlines, we were probably first with the headlines. The headlines started going out there. You know, listen, everybody is talking at this conference about deflation. Dont ask me why. I can, ten per mentioned that a lot. Tepper. There is worry about deflation kicking in. The economy, then it gets squirrly. Hard to understand policy. If you have deflation, when youre basically printing money, youre melissa you are screwed. That is worstcase scenario. That is it. That is one of the things he brought up. There is a theme throughout the conference. In these private meetings which i got, i went to a private meeting earlier in the week with gary Gary Kaminsky over at morgan stanley, there was significant talk about deflation. Listen, we sit around here and talk about insulation constantly because of all the money printing and sort of headline fear but you know, if youre printing money and your economy is growing as tepidly as were growing, and you know you got troubles in china and maybe in the European Union and various places, start think about that. Melissa dont move. We want to bring in the rest of the panel. Jim frischling is back with united advisors scott martin and chatwood fund jared levy. Scott martin, i will start with you, whats your reaction . That is something to be concerned about. One thing david tepper did say he is not short this market. Thats right. He is on the sidelines but dont kind of go against it. Charlie brought up a really important point though, melissa. If you take away the feds support we have here in the u. S. , if you take away all the central bank efforts, japan comes to mind around the world, then you might see this market fall faster than say, Johnny Manziel did in the nfl draft last week because that is what is really going on here. All the Central Bank Intervention is keeping that Risk Appetite for investors high because nobody wants to buy bond with rates so low. Melissa jared, what is your reaction . First of all that is happening around the world. Scott brings up a good point. Central Bank Intervention is happening around the world. By the way deflation is near term effect. Why . There is nobody to buy goods. Look at chinas slowing economy. Look at our slowing economy. Japan i think is bigger risk. Real quick. This is important. I dont think tepper is the cause of todays pullback. I respect his opinion. I respect him as investor. He is obviously brilliant but if you look from 1997 almost to 2,000, he had almost like 13 years of just complete constant growth in the markets, talking about appreciation without a major pullback. We have only two greater than 20 pullbacks since that last time. By the way, recovery over past five years we had one 15 correction. Real short. Were we know were in times of a heady market. I see we little pullback five or 10 but i dont see a big correction. Melissa jim . House something weaker, market fairly benign, gdp weak. The economy is not keeping up with the markets. Tepper is realizing and charlie said it, this has been a fed fueled rally. Economy is not keeping off. A little money off the table is not a bad thing. Melissa yeah. Charlie what is next there . Believe it or not im going to dinner with Francis Ford Coppola tonight. Melissa that is important. I find out why he cast his daughter in number three. Melissa right. Now theres just a bunch of panel discussions. Valerie jarrett is speak at some point, president ial advisor and i will report back. Melissa real quick, scott martin, are you selling this market today. I would not. If i had cash on the sidelines, most of our money is in, i would be buying. Melissa guys, thank you so much. Mans best friend saving some lives. You have to hear how dogs are four times more accurate at sniffing out some cancers than even the most expensive tests. Dr. Manny is here with the details. Plus, the teeny tiny coke kiosks is across germany. Very cute, surprisingly practical. Dont move, do you ever have too much money . When folks think about what they get from alaska, they think salmon and energy. But the energy bp produces up here creates Something Else as well jobs all over america. Engineering and innovation jobs. Advanced Safety Systems technology. Shipping and manufacturing. Across the united states, bp supports more than a quarter million jobs. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. Trwith secure wifie for your business. It also comes with public wifi for your customers. Not so with internet from the phone company. I would email the phone company to inquire as to why they have shortchanged these customers. But that would require wifi. Switch to comcast Business Internet and get two Wifi Networks included. Comcast business built for business. Melissa from u. S. , every corner of the globe money is flying around the world, starting in france, with the Prime Minister has signed a decree giving him power to block foreign takeovers of french businesses. The move strengthens his hand, in the battle for French Energy assets like alstom. General electric wants to acquire alstoms operations, hard to say by the way, for more than 13 bill dollars. Over to switzerland where christies set a new record for a top jewelry auction with this gorgeous blue diamond. Wow. Christies rebaining top auction title from sothebys a day after losing it. Swatch group harry winston, bought the 13carat rock, for a school 24 million. I cant even speak because it is so gorgeous. I must have it no. Landing in germany where cocacola has been launching teeny, tiny key of courses to promote its sodas. Kiosks. Selling customers little cans much coke. I love them. The kiosk comes complete with other shrunken products with pastries. I dont know, i think it is cute. Back to the u. S. Where measles is making quite a mess. Ohio having a rough go with largest outbreak in two decades. Nearly 200 cases reported across the country. How did this happen . Dr. Manny is back with us. I thought we have a measles vaccine. We have a measles vaccine. Melissa what is the deal . People are not vaccinating children on time. We have global traffic of a lot of people coming to this country from areas we have majorout breaks like philippines and things like that. Theyre not properly vaccinated. Pockets of 200 cases, 100 cases even here in new york. This is a problem. If you go back to the 1960s millions of would get the measles. Thousands of people would die from the measles. There was a tremendous effort once the vaccine came out, look, lets get rid of this problem. We have these pockets. It will be a chronic problem for a long time. Melissa people believe the vaccine is dangerous. Lets not get into that. Melissa lets not get into that. All right. On the flipside there is this wombat he willing blood cancer for 10 years. She was injected with enough measles virus for 10 Million People . Right. Melissa and it cured her cancer . This is the field of using viruses to treat cancer. This is an ongoing field. Talking about vaccine therapy for cancer. Basically the concept is measles virus has high affinity for cancer cells. She had multiple myeloma. The viruses in large quantities get inside the cancer zest. The cancer cells implode because it can not hold at this time e it anymore and immune system does the rest. It was 100 remission. Melissa wow. Another girl had pain cancer where they used polio vaccine and same principle, what is the danger taking a measles virus enough to treat 100 people. You could theoretically damage the immune system. There are guillainbarre syndrome it could the future of Cancer Therapy will include for sure a vaccine arm. Melissa wow. Yeah. Melissa mans best friend could be the key to protecting his manhood . Medical detection dogs are putting keen sense of smell to a good use. They have been shown to accurately detect Prostate Cancer, 90 of the time. Meantime traditional tests are reportly wrong nearly 75 of the time. So you have dogsniffing out Prostate Cancer. I dont want to make the very obvious no. It is in europe. Let me, let me tell you this. O look at odorsies coming out of cancer cells because every cancer cell has a unique odor. Melissa it is smelling a pietri dish. Smelling peof the individual. Melissa even more gross. This is science. Talking about medical dollars here. Were not going to sell