bearish arguments keep getting refuted. so let's not get misdirected. like i said, there's always more. just for you, "mad money." i'm jim cramer and i will see you tomorrow. >> >> you're watching worldwide exchange from europe, asia and the united states. >> good morning and welcome to the show. the headlines from around the globe this morning. here in the united states, the dow rallies for a 7th consecutive day. but will today's parallel end fuel on the positive sentiment on wall street? >> ahead of the u.s., fresh highs but government debt yields are continuing to move higher. >> india talks tough on economic reform but unvails an ambitious amid inflation fears and a political crisis. >> you're whaping worldwide exchange with christine. i'm jackie.

great to have you with us this morning. let's start here in the united states and take a look at the future to see how we're poised for trade on wall street. it looks like it's going to be a mixed open. the dow would be lowered by 6.5 points. the nasdaq highered by one and change and the s&p 500 lowered by one, this, of course, after a positive session on wall street. we saw that nasdaq and the s&p and the dow all hitting 52 week highs. the financials were fuelling a little bit of the rally yesterday. some of that post-stress test. we saw the utilities to the downside. how does it look over in london? >> well, remember, we hit fresh 2012 closing lows for both last night in europe. that's after some slim games. once again, it's being relative. just up over 6% for the year. it's up over 21% so far this year.

very much mirroring the moves that we've seen in the united states. the other big feature this week is the selloff in fixed inside markets. that is a 10-year yield, now up to 1.99%. a lot of people saying 2% is a big, technological position. well, 2.38, but fresh sort of three and a half month highs. and there we are, the 10-year treasury yield, as well. joining us for more the next hour is jenna godfrey. jenna, goat to see you. thanks very much for joining us. we're going to see the unusual position at a moment. we've got it actually going higher. the bond yield is going higher and the dollar as well. the question is is -- is this a train you just don't want to get in front of? or is this based on sort of fundamental reevaluation of -- i mean, it's not the world economy. it's actually just the u.s. economy. everything else is weakening.

>> also, if you look at it, they're all signs of nervousness. and you can see that with respect to two things. first, actually, this rally is on low volumes. there's a lot of money on the sidelines. obviously, when it does get in, that is going to provide a significant upside. >> when or if? >> well -- um, no, eventually we're hoping that we'll gain a lot of clarity on the outlook going forward. and when we see some resolution or people gain more confidence and you see higher volumes, then that will provide a more sustainable rail lee. also, the other thing you've got to look at, even though we've seen that reversion between treasuries and equities, is the fact that we're still seeing $1 billion coming out of equity funds so you're saying the beginning of the rally here. are you saying this is sustainable? >> i'm saying there might be a correction.

the fact that this is done on low volumes and there's all signs of nervousness. let's say there's another bump in the road. that could trigger a selloff. but that could also be viewed as a buying initiative. >> jackie? >> jenna, i certainly agree you in terms of the rally that we're seeing. it's hard for me to get behind it and we're not growing as much as we need to. that is sort of the thorn in our side here in the united states. apparently, it seem that is the markets want to get behind this. so how much can we sort of stick with the growth numbers and worry about what's going to happen in the future and how much do we just have to get behind the rally? >> the issue is that, yes, you've got to focus on growth. but, within that, there's certain downside risks. for example, a lot of people are focusing on the job numbers. it's actually happening. we've got to look at the consumer here still under downside pressure. also, we've seen focus go from a phase of inflation.

and, within that, if you look at, for example, oil price, oil prices are going up. they're pressurizing inflation on the outside, but they're also going to be squeezing the consumer. so there are still these downside risks. >> jenna, this is christine. a lot of companies we talked to are counting or betting on the growth of the chinese consumer with china with concerns of a slow down. what sort of head wins are you seeing? >> the imf came out with that report saying if there are further bumps in the road and it does worsen, that gdp could be hit by 4%, which would actually bring it below that 8% level. so, therefore, there is still -- you know, we haven't seen a decoupling of those markets. within asia. a lot of companies are focusing on exporting to europe. so, again, that now provides a little bit of nervousness, then. >> so, in other words, does that mean you would stay away from

china-related stocks? >> what i would say is you've got to focus on where the revenues are being generated. >> they're feeling their domestic markets are doing very well hp and feeling asia is going to be doing better than servicing their own economies. >> all right, fantastic. we're going to have to leave it there. but she's going to stay with us. she's head of investment strategy. apple mania has descended once again as the latest ipad goes on sale around the globe. we'll be live in about 30 minutes time. but will you be hitting the stores for the latest version of the best-selling tablets. tell us worldwide at cnbc.com. or simply choose another. and it's free. ya know, for whoever you are that day. it's just another way you'll be traveling at the speed of hertz.

welcome back. welcome back. let's start here in the united states and take a look at the future and see how we're setting up for a trade today. looks like we're going to be a mixed open. if we were to open now, the dow would be lower by 8.7 and the s&p 500 lowered by one. the financials leading the rally higher. we're seeing some post-stress test there for that sector. the dow, the nasdaq and the s&p hit new 52 week highs. so it looks like we here in the united states are driving

things. how do things look over in europe? >> it is. all the other economies in the world are weaker. so it is amazing how we just focus just on the united states. we're up for 8-month highs there. just by 5-4. it's a very slim gain. and that translates into slim gains as far as the leading indices are concerned. just up 11 points. we're flat. we're about a quarter of a percent higher. as far as euro dollar, the dollar has been, in the last 24 hours, one-month highs against the euro and 11-month highs against the yen. today, just above that, 130.66. the dollar yen is moving higher, 83.73 getting back to that 11-month high. and we keep rising sterling, stories out today that may be the chance of thinking of scrapping the top rate of tax introduced by the last.

so damaging for doing business in this country. now, bull markets are concerned, we are considering upward pressure. not far away from this key 2% mark. 10-year guilds, they've had an awful week. now fresh three-month highs. 2 pb 2.4% is where we stand. we were at two tens just over a week ago. spanish debt, still well over 5% and showing publicity, 4.84. yesterday, we had this brief -- it was right about here. we saw at least a $2 drop in the price of bread on reports suggesting that brackets had agreed to strategic reserves chomping all prices down. and it was later clarified they talked about it. they hadn't said they were going to do it. bread is weaker than it was yesterday at around $123 a barrel. what kind of day have you had to

finish the week in asia. >> for a friday, take a look at the boards. it's really a mixed session. we had some markets a little bit disappointed. some profit taking going on. that better than expected economic data didn't quite filter through to the recipe. they're going to five finishing to the upside a little bit. this particular market, of course, was -- gains were capped because of the supporters and the strong session, 1.3%. a lot of investors started going into the heavily batted profit sectors because of the recent. financial earnings were a bit of a concern. a lot driving into this particular sector. a lot of fund raising concerns in this particular market. the index and profit going on 0.8%. down to 0.5%. the shipbuilders with the biggest market pretty much flat to the downside and the 1.2% in

this particular market, we're watching the indian budget, which is out today which we'll be discussing for the guests later on in the show. that's it for your global market report. >> thanks, christy. >> thanks, christy. let's take a look at those global oil prices. i just explained, there was a sort of -- for a brief moment yesterday, people believed that the camera man had agreed and later clarified, no, we'd spoken about it. i know it's actually due for the long term price of oil. it's clear to be politically motivated. but what do you do as an investor with oil at these prices at the moment? is it something you can play? or do you just kind of stay away from them because you don't know where the politics are going? >> it's driven at the moment heavily by the political environment. for example, you're looking at embargoes with iran. at the same time, we're looking at more oil coming on stream to

deal with opec and the amount -- the debate that's going within there. so, therefore, it's easier to take a more strategic, longer-term view with the supply and demand side and whether it will be against inflation. >> what's your view on that? >> you know, supply probably is going to remain tight. and, therefore, we are quite optimistic on the oil price. in the shorter term, there may be other disruptions coming online. for example, in europe, with the growth looking so subdued, they could fight a little bit of growth. >> now this marks the deadline. your candidate for the french presidential elections to register. the first round of votes taking place on april, 22nd. who are the main contenders? and how might it change things in europe? here's the details. >> french socialist party candidate is leading the race for the presidency. the man who has said his real opponent is not president nikola

but the world of finance. if elected, he has promised to clamp down on bonuses, ramp up income tax to 45% on earnings of more than 150,000 euros and impose a 75% tax rate for those earning over 1 million euros. >> translator: no french bank will have any toxic financial products which are, unfortunately, still existing today. it will be purely and simply stock options will be forbidden and bonuses will be put under control. >> he also wants to bring the official retirement age back down to 60 from 62. and to the shock of many euro zone leaders, has said he would renegotiate the fiscal compact. this prompted angle and merck to come out. and while sarcosi welcomes the support, he insists that the

election is a decision for the virurically alone. a poll gave him a lead over the rival for the first time this week. but the opinion survey still showed him losing during a second round of voting. sarcosi has talked tough on trade and promising new immigration controls. he's also trumping his claims to save france from falling victim to the euro zone. >> translator: ask those french people to think about what's happening today to the italian retirees, to imagine how they feel, the spanish unemployed who have so little chance to find work because the level of unemployment is three times higher than in france. >> so, with sarcosian vying for the top spot, is it too early to call this a two-horse race? on the far right, keen to shake off the national france image as a single issue party.

she wants france out of the euro. meanwhile, central leader of the democratic movement, a staunch euro far, has said he's going to wipe out the deficit within three years. he's going to force governments to run balanced budgets. and he's campaigning to revive france's flagging industry. >> with the polls tight ning ahead of the first round with just a small surge in sentiment towards these candidates could go a long way to splitting at the top come april 22nd. >> all right, so those are the runners and riders. stefan is in paris. i suppose the key thing here is what international investors need to know, if he gets elected, just how much it changes, potentially, the nature of the debate about where europe goes. >> rigorous until nautical, ross.

they say that's despite the announcement, the headlines along maybe the most adventurous candidate would not be francis, but nikola. if you remember, prevent a transaction task, even if other countries in europe decided not to go. france will go on its own. france alone is propositioning some very pop ewe list announcements, some measure that is we know will be almost impossible to implement. he's going to implement a 75% tax for people earning over 1 million euros a year. it's going to bring three to 400 million in france which is extremely limited if you compare to the french public deficit. it doesn't take you to a possible negative such as wealthy people leaving the country and being able to invest in new projects and create some jobs in the country. so a lot of popular jobs.

he would like to implement a new tax for people leaving the country. how can you implement a new tax on people who are not taxable anymore. in france, because they've decided to leave switzerland or belgium, it's only an announcement to please the crowd. it's very difficult to implement it once again. now, the thing we should be worried about is the proposal along to lower the age of retirement. but to 60 years old because that wasn't one of the main achievements made by nikola. and we know that it's almost impossible to be retired at 60 years old. we live longer and all the countries around us decided to raise the legal age of retirement if he would implement that promise to bring back the age of retirement to 60 years old. that would be a problem for the french deficit and for the french economy. >> be right back, ross. >> stefan, i think retirement

age in singapore is 62. but they're trying to raise that. that's a big issue all around the globe. thank you so much. still to come on worldwide exchange, is england trying to please too many at once in its new 300 million dollar budget. a closer look at what it will and won't do when we come back.

welcome back. welcome back. india's finance minister unvails the buts plow print for the financial year. but it has failed to win over the market. cheri files the details for us from new dellhi. >> reporter: as far as gdp growth is concerned, the indian gdp has been pegged to grow about 6.5%. they're confident of being able to achieve that in terms of what they can do on the fiscal deficit side. the number has gone horribly wrong. the deficit has exceeded what was estimated in last year's budget by almost 1.3%. it's now 5.9%. importantly, the deficit next year is 5.1%. how credible is that number? that continues to be a question mark. that's why markets to india are

reacting to that news. there is the possibility or there are question marks whether that deficit number is achievable. in terms of big ticket bonds, the finance minister has tried to stay away from controversial reforms. we do have a coalition government in india and coalition partners have been opposing crucial for indirect investment reforms. that's why the budget has remained silent on those. so on balance, the finance minister has raised taxes as far as industry is concerned, which will be passed over, especially on the excise and service tax to consumers. it stayed away from big bang and reform announcements giving the kind of political opposition that has come in from its own allies as well as the opposition parties. more importantly, it's going to be interesting to see whether they are going to be able to deliver on the fiscal deficit and the road map which has been the big theme as far as this

budget is concerned. >> and that report was from new dehli. a quick check on the indian markets and how they're reacting. take a look at how the syntax is doing. losses of 17,026. joining us now, we have vishnu. he is a market economist. good to have you with us. in summary, what's your outlook on the indian budget? >> i think the indian budget was probably playing on the safe side of things. essentially, the government doesn't have enough political capital. there's much, much needed. there's one of the flaws that the markets are looking at right now. besides that, the budget is attracting the shore. some kind of consolidation from the 5.9%, which is a big disappointment. they're trying to look at 5.1%. but the big flaw is high-end corporate tax revenues, looking at lower subsidies.

and i think these are all -- and, you know, pretty strong divestment goal, as well. so these are, you know, potential pitfalls, especially at a time when oil prices are very high. >> oil prices is high is one thing. the issue of structure reforms is a key thing a lot of international markets are looking. we know what happened to the regional sectors. is there anything in this particular budget that would encourage foreign investors? >> well, the consolation seem that is the message there is they are still intent on finding through the reforms. but it's going to take a while. it seemed, like you rightly pointed out, they're trying to breathe life into that one again. and they're trying to broaden where f.d.r. can come in. and on the short term perspective that they're loosening up the external to up the ramp, too, so that the foundations can be late. that is the pas sieve. i think broad forms need to take

pace, spes leshl when they've lost kftsd. i think there's no real drive there to show that india is kind of going a huge shift in thinking. >> how is all of this going to impact india with the disappointing target for the fiscal deficit. is this all going to put more pressure on the indian repeat? and where do you see the currency? >> at least our view has remained vulnerable for next 3-6 months. we have, this project, i think you could see -- thought we would be revisiting around 5, 54. >> okay, thank you very much for coming in and talking to us. good insights. that was market economy at the corporate bank. jack? >> coming up on the show, christine, the s&p 500 closed about 1400 points for the first time since 2008. only about 10% away from its

record close in october, 2007. is this rally built to last? we're going to discuss it next.

welcome to the show. welcome to the show. the dow rallies for a 7th consecutive day. but will today's sentiment

number fuel the positive sentiment on wall street? >> if the u.s. session pulls fresh-year highs, the government debt continues to yield up. >> england talks tough on economic reform, but unvails on an unambitious and a political crisis. nice to have you here on worldwide exchange. let's take a look at the u.s. futuresened see how we're going to open. it looks like a mixed session. the nasdaq higher by 1.3 and the s&p 500 opened a little lower, too. >> we closed at fresh 2012 highs for both the german and the french markets yesterday. so pretty flat rate causing the 5100 which underperformed this year. it's actually 21%. so yesterday it was hit by oils which were affected by that oil

story late in the session about strategic reserves being tapped or not, as the case may be. but we also have seen yields on debts during the session. it's continuing to edge high, christine. >> here, in asia, russ, that pretty much expects the economic data that wall street failed to lift some of these profits. pretty much the two of the outside. we had the exporters were a big drag. and that capped gains in the japanese market. elsewhere, the hunting is low with 0.2% with financials. concerns of outlook of earnings happening after the bell. fund raising concerns. 1.3%, a strong performance why we have a lot of traders getting into this particular market. picking up property shares which had given concerns about the property sector. elsewhere, down 0.5%.

it's pretty much flat to the downside. and the census down 1.21%, a little bit of a doisappointment with the indian budget that came out today. >> well, the rally here, christine, shows no signs of evading. closing above the 1400 market since june of 2008. about 10% away from its record close in 2007. also seeing a dollar high. key economic data including inflation figures. joining us to talk a little bit more is jack, ceo of behr partners. jack, i want to go ahead and start with you. seeing the markets at some really cute levels here. do over 13,000. but, my question to you is is the growth there in the u.s. to be able to sustain this really? >> i think it is. in fact, one of the indices

you've left out was the russel over 800. so you've got all sectors starting to participate. this is a broad-based rally. when we see what's happening with the bonds, going in that inverse relationship, this is exactly what you want to see if you're bullish and you want to see this rally have some traction. this is parked in that tenure as a way of big asset allocations. i would expect a little of this continue. so a lot of buying that's been taking place has been leaving to this expiration. of course, we have two weeks left for the end of the quarter where we've got a lot of people starting to play catch-up. >> all right, and, jack, not only have we been seeing an asset class rotation, this year, we've been seeing a sector location, as well. we've got the finals out and performing pretty well. in terms of financials, how would you position yourself now?

would you be buying or more cautious? >> you know, i think the financials -- they got beat up so bad last year. look at what bank of america has been doing so far this year. this was a stock thefts hr that was at $9. i think that there are amazing values within the u.s. banking sector. they'll stress test one thing. they proved to the world that our banks are not facing armageddon. that seemed to be what was worrying people. coming by what was held from europe. so i think, all in all, what we have seen, especially with the stress test and the chinese now lowering their growth rate. 7%, 7.5% is much more sustainable than a 10%. >> trying to learn that growth rate is a bullish factor. it shows you the sense where we've got him at. i want to bring in jimmer. jack clearly, i believe, he stated that. are you a disbeliever?

>> i'm a little bit more cautious that we're still seeing dividend yield stocks. and, also, secondly, with wage growth limited and also an upside on inflation, especially with oil prices, we're a bit concerned, as well. >> jack, why is jimmer wrong? >> i'm not as concerned -- i'm not concerned about -- first of all, you know what, don't bet against jenna. you can't do that. but what i would say, though, is that one of the things that we're missing is the fact that everybody was worried about the velocity of inflation. that was the one thing we kept hearing time and time again. it seems as if that's contained. and that's really the wild card. where that will manifest itself is if we see the long end of the-year-old start to spike dramatically. the move that we're seeing right now is expected. but if we were to see the

longest up 4.5 or 5%, then there's some cause to worry. but if i'm telling them i think we're fine. >> hey, jack, this is christine. i'm glad you mentioned china's 7. a lot of concerns here in asia about the sort of growth received from china is trying to cool down the property sector and also direct foreign directly investment because of the struggling european economies. something behind -- i mean, is there anything in china that worries you at the moment? >> right now, the only thing that seems to worry me is the fact that you've got an inflation rate around 4 or 5%. if that is controlled, and i've got to tell you something, the chinese leadership has done a magnificent job. that's one of the reasons that investors keep going. as far as the growth rate goes, let's face it. when you're seeing 10% numbers,

it scares you. 7.5% puts a big smile on people's faces. that capital, by the way, and they're loosing it because you see it every day. you're seeing trickle of capital. remember, it's a two-way street there. capital coming out of china into the states. that ecocycle is sold. it seems to be back on track. that, for me, is one of the more important things. china ink is wac on track. over the course of the last year, people were concerned about that. >> thank you so much, jack. we're going to have to leave you there. always great to have you on the program. in terms of what's going on, we are looking at apple. it's apple descended once again as the latest eyepad goes on sale outside the globe. natalie is live in new york city. >> that's right, apple-mania, indeed. it's a little after 5:30 and the

line wraps clear around the block. some people have been here for days. in most cases, hours. into the middle of the night. we'll tell you why. >

apple mania has hit once again. thousands of fans lined up

outside stores across asia and the u.k. in order to be the fist to get their hands on the new dis. device. natalie morris is outside in new york city. the device is due to go on sale in just a few hours' time. natalie, how is it looking? >> it looks pretty good. it's raining, but people don't seem to care. the first guy in line has been here since monday. he's cocooned in a sleeping bag. in about two hours time, they're going to start letting people in. at around 4:00 a.m., there were 300 people. now the line goes clear around the block. you've got to think this is pent up demand from people who wanted the new device but wanted to wait through the christmas season because they knew apple was going to launch a brand new one. early reviews are very good. it's an incremental update to the ipad, too. but it's still really great. great texts, great display, good battery life. it's worth getting an ipad if you wanted.

if you're a 2 user, the reviews are maybe not the biggest deal, but people still get nuts about apple lunches. they're clurnt they're currently cleaning the glass behind me. they con trotulate them and this will be no different. >> all right, natalie, my question to you is a lot of the folks who were there since monday, that is a little bit scary. are these people who are trading up for the ipad 2? or they just waited to get their hands on the new device? >> well, i think those first five people are probably a different case. there's some people who are selling their spot in line. some people want it so much they'll pay a couple of hundred dollars to be the first to get it. this is launching in nine countries. so there's a good aftermarket for this device if you want to sell it overseas. so you can get a couple hundred

dollars more. i'm not advocating that, but that's what people do. >> thank you so much for that, natalie morris. she's a cnbc contributor. meantime, americans are gearing up for a rowdy saint patrick's day. americans will reportedly spend an average of $39 each during the celebrations. 54% of the respondents say they plan on celebrating the holiday. joining us to talk a little bit more about that popular when i say qh brand celebrated its 125 anniversary. the company reported that sales of skiingle ma scotch are up 12. william grant and the sons is the company that owns it. what a better way to kickoff saint patrick's day weekend than with simon hunt.

he's joining me. simon, again, early in the morning. thank you so much for being here. let's talk a little bit about the boost in sales. to what do you attribute that? >> it's what we're seeing, actually. you're seeing a number of luxury segments. consumers are looking for that real value. where's that authenticity? and consumers are better informed today than they've ever been. certainly when it comes to glenfiddic, last night we set a world record. $94,000. it wasn't a bling decision. it wasn't someone buying to show off. the u.s. is talking about being

up 12%. the 21, the 30, the 40-year-old. in china, in career yeah, in taiwan. it's fantastic. >> okay, those numbers, of course, are staggering. that's fantastic growth. but we're always looking toward the future and ask you how you err going to drive sales going forward. >> looking for what consumers are looking for, they are looking for this story. we are the number one single malt in the world. we're the most popular, the largest. but we're also the most awarded. when consumers decide where they want to spend their money, we have the story. we have the luxury. >> hey, simon. i'm glad you mentioned about simon. the market is also very competitive. we've got an international place aiming for this particular

market. not to mention a local whiskey maker. how do you compete? >> really, what it comes down to is the quality of the products that we're talking about and the exclusivity that we can bring to the category. so, certainly, here's a competitive market. but there are other plays. worldwide really does help us. >> just compare growth rate, i, you know, have growth rates for scotch. and i'm presuming that in ocd countries, it's pretty steady. just compare that with what's happening in your emerging markets. >> sure, absolutely. i mean, certainly the more developed -- we're seeing a good

four to five percent growth. we're coming into the 12-year-old like a 15 or an 18-year-old. really appreciating the quality that goes with that. in the emerging markets, certainly some of the markets in latin america and in asia, you are seeing people to experiment with different finishes and giving the raise that we have with fitting. we're very well positioned to have made that demand. >> one last question. of course it is st. patrick's day this weekend. >> more on the tullemoredue. and we're excited about it. the whole time is going to be up. it's going to be a great weekend. >> thank you so much for being president for north america. >> you can't drink scotch whiskey on saint patrick's day. >> let's get some of the other stories from around the world today. brittish government may be

preparing to cut income tax for companies according to media reports. finance minister could bring it back down to the 40% rate that he was just before the labor government left office and then, of course, moved up 50%. they announced the movement he presents the buts next week. he'll also be holding up a red case. in fact, the indian budget was a copy of the u.k. budget. we'll put it together and see who has the better case. i suspect the indian case is a bit newer. a little more fresh. >> yeah, yeah, it will be interesting to kind of compare and contrast. >> yeah, we'll do that. it will be interesting. it will be interesting to see who wins hands down. across the united states, north career yeah's plans to launch what's happening long range rocket is highly provocative. the announcement comes just

weeks after the long range missile tests. north korea insists the rocket in april. japan has also denounced the rocket launch, saying it violates u.n. security council resolutions. >> thanks for that, christine. meantime, coming up next in the show, we're going to look ahead at the latest data expected to show a pick up in consumer sentiment and industrial production. we're going to discuss it next. carfirmation.

only hertz gives you a carfirmation. hey, this is challenger. i'll be waiting for you in stall 5. it confirms your reservation and the location your car is in, the moment you land. it's just another way you'll be traveling at the speed of hertz. welcome back. welcome back. it does look like it's going to

be a mixed open, not too much direction there. if the markets were to open now, the dow would be higher by 1.4 and the s&p 500 lower by one point. this, of course, after the equities finished higher. and let's get you an update. in fact, on what's on the calendar in the u.s. today. we're going to get an indication of where monetary policy is headed with inflation figures released at 8:30 a.m. eastern. consumer prices are expected to rise on the month. also u.s. consumer sentiment data at 9:15 and 9:55 respectively. joining us now is jack, c.e.o. and we've got our guest hosts. let's look at those data points. the bigger story that is we've been following. but in terms of the cti today,

what do you think? >> i think the c.p.i. is going to come in a little lighter than people expect. yesterday's p.p.i. came in a little lighter. what we do want to see, though, is c.p.i. go up as much as p.p.i. you want to make sure that corporations can get some pricing power and maintain that and, more importantly, make sure that operating margins are in tact. >> and the dollar going up. that hasn't happened very often in the last few years. is the dollar becoming a risk on currency? >> you know what, ross, i think it's bouncing back and doing what it should. king dollar is back, as larry kudlow likes to call it. it's telling me that they've got the fundamentals and the foundation for the much more sustained. that's one of the reasons i'm so

bullish and why we emptied the bear for bonds. >> they've been holding back from entering which could be a big kicker. >> you know, what's happening there is that you're seeing people buying what they have to buy. people are sitting on cash and finding real value, no matter what. no matter how bad the environment might look. here, in the states, we're talking about tax ambiguity. everything is coming out of washington. it is antibusiness.

>> look for the cyclicals to really kick in. i think they're going to be leading the way. >> fantastic. thanks so much. head of investment strategy. brooks, mcdonald, asset management. that wraps it up. i'm jackie dangelis. have a great trading day and thanks for watching. "squawk box" is up next.

good morning, stocks quietly climbing higher. apple fans, lining up to secure the latest ipad today. will the device send that company even higher. it's march 16th, 2012. "squawk box" begins right now. >> good morning, everybody. welcome to "squawk box." we're going to be back on monday. a big day planned for you this morningment we start off taking a look a