>> microsoft, i'm short the april puts. >> halftime is over. power lunch and the second half of the trading day start right now. >> the unemployment number dipping but job creation nowhere near what analysted hoped for or predicted.

>> and a big story today about big names avoiding big taxes. let's go down to where the action is. sue? >> there is an awful lot of action today because the market is selling off following the weaker than expected jobs report. only 88,000 jobs added in march but the unemployment rate fell. this is what they're focusing on here. $268,000 jobs from 236,000. the nasdaq sitting at about a one month low. where is the mub going? it's going to into the bond

market. difd end yields is that a case for stocks? hey, jim. >> how are you? >> jim cramer with us. you are a glass half full kind of guy. that's what you say. but you didn't find anything in this report that made you feel that way. >> this is one number that i take very seriously. this was not a good number. it wasn't like the market didn't see it coming. you have these incredible moves in the kimberlys and color roxs. and today people are saying you know what? maybe that's why those stocks ran.

on sunday night we get inflation numbers. people look at china and say they have been off the grid and the baltic drive has been down for days. maybe people are saying you know what? the communist chinese see what's happening in the world and they're going to do something. it's something that is driving the market. >> i was listening to a great debate on the halftime show exit was is the trade about dividend tired? i'm not done on stocks. i'm not making anything on bonds.

not only do i make nothing on the bonds but they're taxed at an outrageous price. >> i just think that they have been, if you take a look, 1, 3, 5, 10, 15, 20 years they have been outperformers. >> so you mentioned bernanke. what does this do, if anything, to his policy. >> it makes it so we can't constantly ask people given the fact that the economy is on fire how long is he going to do this? we don't have to worry about it.

>> hey jim, what they're talking about down here is the fact that the fed has now pegged their exit date by the unemployment figure itself. the president and congress are, which is cut spnding. he is also brilliant and i'm tired of people knocking him. i think what h i'm not going send us back he is focused on history. it seems to me that it's not a

healthy economy or a jobs market. you have a lot of people deciding not to look for jobs so i don't see how he can pull back. >> he is worried about a permanent underclass cut. i did nothing. he will do by any means necessa necessary. >> these guys, obama wants to raid. you know what? i'm happy to pay more taxes. no cut spending. >> okay. came on mad money and he said look. jc penny is doing well. that's one of the bright spots. you see why his stock is up big.

and natural gas stocks, saying natural gas is bottomed. that's the pure play. >> he was the guy. >> that is a speech about mo green. >> that's a little far field. come spring, natural gas, drilling would be over and you would see a permanent increase. could d guy be more right? he's out. >> we'll be on another

adventure. >> the thunder is still in. >> you know what? thank you very much. >> we have a little breaking news to go to. brian? >> listen, rutgers university has now released a statement the official resignation letter of tim p. this is a letter and i want to read a little bit about it. there was debate about whether he was fired or let go. he was fired earlier in the week. i want to read this. he says in the letter to the president is i do so reluctantly because i always have and always will love rutgers. my first instincts was to fire him immediately. however rutgers decided to follow a process involving

lawyers and outside council. so basically he is going on record saying he wanted to fire mike rice last fall when this first came to their attention. after it went up the chain of command they decided to suspend him for three games. >> boeing has just filed a flight plan. lift off is scheduled about an hour from now out in washington. the flight is going to be lasting up to two hours. this is important. this is the battery certification test. the last part of the testing that they need in order to file the paper work with the faa, which we believe will happen in shortereder and boeing is hoping that once they file that paper work, if everything goes as planned that perhaps that will move the ball quickly towards

getting the dream liner up in the air again. that flight test scheduled to happen in about an hour. sue? >> we'll be watching it. on a down day, boeing stock was up a quarter of a%. >> the company slashed second quarter earnings forecast. the stock down 17%. that warning sent others in the sector down as well like juniper networks and more. all having a rough day. you can see percentage losses on some of them is just under 4%. >> it's not a pretty site. >> a couple of warning signs that analysts are watching. due to higher payroll taxes and prices at the gas pump. the shorter than expected

recovery. here is the big one. the high amount of negative preannouncements. there have already been 107 negative announcements issued by dorp rations compared to the 23 positive announcements which comes out to a ratio of nearly 5 which will be the most negative guidance sentiment. now the s&p 500 is estimated to see a meager 1.6% growth in earnings this quarter. but analysts may be lowballing estimates at the beginning of q4's earning season, growth was pegged around 5 fers. we will be watching on monday. well's fargo, jp morgan and constellation brand. >> very much. in the next hour, some positive

steps from sema. we look forward to that. up to you. >> add gold to the list of big stories. it is rebounding today. after a real major decline from much of the week. is it worth buying at these levels? he's into gold but tom isn't. he sees it falling about another $100. why wouldn't gold be a place you would want to have money in an environment where the central banks are pumping pumping cash into the system. >> they might be pumping money into the system but the whole rest of the world wants dollars.

>> gold. picture this. cyprus and gold doesn't go higher. gold doesn't go higher. what we have had is this. gold is down 400 bucks off the high. we're going to 14.50, 1430 all in the gold market. when they take gold out of the ground i costs about 1150 to get it out of the ground. it's the demand for the dollar versus the demand for the gold. it's the chicken or

>> interesting points to make about. >> he does. and he has been speaking out and he has been incredibly critical of ron johnson to this date. and the board of j.c. penney. i spoke to him a moment ago when it became known that the former ceo took a tour of the new j.c. penney proto type store. he hopes that the new prototype works. that many are counting on it. he described ron johnson during his visit. he has been incredibly critical

of as delightful and energetic. he said the shops look good but the customer will decide whether this new thing actually works. we will find out when that first shop is scheduled to open in may. the largest shareholder, has the big long position in j.c. penney was making comments today as well at a conference up in boston and he said the criticism of j.c. penney, and he has been ron johnson's biggest defender and j.c. penney's biggest defender to date. in his words, too much change too quickly without adequate testing and that so far the execution has been -- again, in bill's words, something very close to a disaster. no surprise then that we just found out in the annual report that ron johnson got no bonus. his total pay was $1.9 million

after some 50 some on million a year ago. >> and he bought a lot of stock which is basically worthless. i think it's overstating it to say that allen was optimistic by what he saw. i don't think he was willing to go that far until he sees what the customers say themselves. >> he said if i were a j.c. penney employee, and didn't know -- >> are you talking about alan? >> yes. he has called ron johnson and the board delusional. he has been as critical as critical can be. >> so this is a change? >> he would be the first to say don't take them out of context and to say that i'm optimistic.

because in this business, it doesn't matter what i say. the customer -- that's going to decide it. >> the woman who shops at j.c. penney is the one who decide whether it's a success or failure, period. >> we will see how may goes for them. scotty, thank you so much. appreciate it. ty? >> all right. how worried is the white house really over north korea's threats? apparently not that worried. see why next. plus the king of vegas. the man behind the vegas sands in the hot seat in court, in sin city again today. his antics coming up. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place.

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>> i fintd curious. just a couple of days ago defense secretary hagel said he rather took the threat seriously. >> to be fair, they are concerned about it. they are monitoring it. but their strategy is a white house official told me is don't take the bait.

everyday north korea comes out with anitioddnal statement, trying to raise the temperature, get attention. and the white house is trying to lower the temperature, not overreact. yes we are moving to guam, but i think the approach of the united states is to try to do what's necessary to reassure our allies, south korea and japan, without doing anything that might escalate the situation and cause the north korean leader to do something unpredictable. a white house official told me that they would not be surprised based on what they have heard and scene if north korea launches a missile of some kind. what that missile launch would amount to, where it would go, where it would be headed is not clear at all. i think generally speaking the expectation is that we are not headed for war with north korea. what we're headed for is part of the familiar pattern that we have seen from them of trying to make statements and make provocations in order to get concessions. >> so it's really a case of not

taking the bait and letting our rhetoric rise to match theirs. >> exactly. >> all right. thank you very much. ter alright. since aflac is helping with his expenses while he can't work, he can focus on his recovery. he doesn't have to worry so much about his mortgage, groceries, or even gas bills. kick! kick... feel it! feel it! feel it! nice work! ♪ you got it! you got it! yes! aflac's gonna help take care of his expenses. and us...we're gonna get him back in fighting shape. ♪ [ male announcer ] see what's happening behind the scenes at ducktherapy.com.

>> las vegas in a rare public appearance is testifying in a rare breach of contract suit. he is the head of las vegas sands, which is currently trading on this down day on wall street. we will get you a quote on that in a second. hey, jane. >> adleson fiesty today. it's no laughing matter as he faces accusations that he cheated a hong kong business man. aldeson just left the court. it is claimed he helped make the needed connections to break into that market. adleson denies.

he says the materials not in evidence as proof that sands earned business on its own. >> these are the shelves that we produced. and we didn't need anybody else to tell us that we were qualified because as it turned out that is exactly what the government wanted. >> attorneys moved for a mistrial. but the judge didn't go for it. this is the sebd time the case has been tried. a 58 million $judgment which was later overturned. you see the attorneys talking with the judge. adleson has made wisecracks and has butted heads with the

attorneys. but basically sue and tiler, what he is say something this is absolutely not the case. when shown letters of agreement between his former coo, he says the coo was not authorized to provide that sort of authorization or deal. >> a family of four can expect to shell out hundreds of dollars to see many of their favorite teams play. this includes a four ticket admission. at the average price, a couple of beers, hot dogs, souvenirs and parking. the top five, boston, 337.80 for a day at fenway followed by yankees, the cubs, phillies down there in jim cramer's town and the san francisco giants. but at least the giants won the

world series last year. what does today's employment number mean for the fed and your money? steve will lead the discussion when we come back and is the other shoe about to drop? a big change in legal strategy. lawyers being switched is in and out. we will be back in two minutes. there'll be the usual presentations on research. and development. some new members of the team will be introduced. the chairman emeritus will distribute his usual wisdom. and you? well, you're the chief life officer. you just need the right professional to help you take charge. ♪ to help you take charge. welcnew york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs,

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>> we're looking at gold closing near the session up near $23. technically traders say this is a significant move. we did see gold hit a ten-month low in the previous session. we're seeing significant declines in holdings. >> thank you very much. >> we have come way back. bob is with me. we were done 160, 170 points. >> is this a blip or part of a

long term downturn? it's certainly starting pretty modestly. we had a crumby jobs number one year ago exactly. that started a little bit of a move sideways for a good part of the summer. if that's the case we may not. one and a half gdp. that's going to be terrible. we may get the 2-3%. just enough to get by. this has been two weeks. the worst performers are the same everyday. all the cyclical names are to the weak side. today, this week and for the last couple of weeks.

>> and the trans are only down nine points. >> that's right. >> hi. >> traders watching the technicals when it comes to the nasdaq. and trading below that 3200 mark, the key support level that traders watched. about 90% of stocks are trading lower. internet players, one of the key laggers within the technology space. back over to you. >> anybody who can get it, i would think that's a good idea. when was the last time we saw yields close at these levels? if you look at a five year,

let's open the chart up. we haven't closed below 68 basis points since the 12th of december. and by the way, obviously, they are all lower than neeld than they were if we look at the guilt in the uk, the lowest since september. and an intraday chart of the jgb, japanese government bond tenure. it had a yield of about 32 basis points. same session, a yield of 65 basis points. then it closes at 53, unchanged on the week. back to you. >> thank you very much. 88,000 jobs created in march. what do those guys know really.

>> now with his take on what this means. mind if i pick up your pin? >> what really matters here is what does this say about the economy. >> it's tracking very strong in the first quarter. >> we have looked at some of the other numbers that have come out. to say they are choppy over the past couple of weeks says it as well as anything. slow down in service economy. a little bit lower rate of growth in factories. what happened in march? >> a couple things happened.

let's just be clear. there is the idea that bob just talked about. we have been talking about it since the morning. this could be a fluke. even when you factor in the 88,000, you get $170,000 a month average job growth. it's not terrible. payroll tax cuts may be . >> i'm impressed that the market has been able to regroup as much as it has and come off the lows. >> we traded right down to the february highs like 1532ish on

the s&p and we stopped right there and that's where we find a little bit of support. and as steve said, analysts are starting to re-evaluate the report. which i think is adding a little bit to adding to the market. my sense is we have got more chop. we have got more testing to do. >> do you agree with that? with the yield on the tenure sitting at that 1.68%. you have got to wonder how long that will last. with the market running as high as it has, do people look at this as an opportunity to get in? >> that's a great point. just back to kenney's chop. like your pork chop. a lot of people are staring like they want to lick a chop. it feels different.

>> i think that's the great point. when does the fed talk about this exhibit. the whole change got pushed out. i think there is a put in the market. the s&p 500 put is now down to 1470. so we have about a 5% move in the downside. >> thank you. thank you very much. to josh lipton right now with market flash. >> check out pandora, which is getting rocked today. more chatter about apple i radio. now i spoke to analysts who cover pandora. a couple of points. we have heard such chatter many times before. and they say listen, even if apple comes out with a product it may not be bad news. a lot of pandora users are loyal and on android. ad rates are going up, monetization is going up.

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five firm websites and a td td ameritrade survey found that it is $750,000. many said that they plan on not changing their saving habits at all. >> a brand new offshore document dump. over to you. >> i want you to wrap your head around this.

for the amount of money globally that is hidden in off shore tax havens. and into asia. and now there is a new massive data leak that might shed some light on exactly and all of those journalists around the world working together on this effort now. they expose dealings with politicians, con men, the megarich and more than 170 countries this is already causing scandals around the world. she is the ex-wife of tax

fugitive mark rich. also the prescribe of georgia, i'm going the mispronounce his name. he is also mentioned in these documents as well as the daughter there is nothing illegal about corporate entities. >> and of course tax avoidance in most countries and failing to pay your taxes would be illegal but this is a very complicated massive globe spanning story. and we are just beginning to ge details coming out of this document dump. >> thank you. >> joining us now with thoughts on the job picture is mark, ceo with the national urban league

and ron kristy, ceo of kristy strategies. it's always great to have you guys down here on the floor with us. mark, i'm going to start with you. disappointing is the word that's being used. some people are calling this a debacle as well. this report this morning. at what point does it start to really even get the president's own party angry about the policies that are going on? >> it's a warning that severe budget cutting fever could cause pneumonia for the economy. i heard steve leisman talk about significant growth, whether this is a blip on a screen, a bump on a road. be care careful.

>> what's your read on it. and some people are pegging it to the se quest ration issue. you can find a lot of different reasons that people are trying to explain away the number. this, to me, int kates that it's a lot more systemic. this shows what happens when you have policies in place that aren't working and we see the dow jones down. i think the market is very disappointed with this. they're only talking $24 billion. the real thing that we're looking at is why is the work force participation rate the lowest since 1969? >> do you feel as though we are entering into a phase like this? >> that is precisely it.

i think people have been so discouraged with what they have seen that they would rather stay home. >> economic growth is sustainable and we created several hundred thousand jobs a month then by 2015 or 16, the unemployment rate would be back to prerecession levels. it's a warning to congress and our leaders in washington. budget cutting fever could cause economic pneumonia. >> they are probably getting the message today. >> can hewlitt packard ever get it right?

>> we're going to scream and yell about the jobs numbers. when the markets fall 1%.

>> that cnbc.com net net. and also departing. what does this say about meg whitman? is she cleaning house? meg is not going to maintain soul control over this company. >> he is a big shareholder

advocate and that's what they need. you're right. it's about a little more shareholder advocacy. i agree with you on that. but about also the prior ceo debacles. we could use a little more board oversight in general. >> we're going to take a quick little break. and when we come back, can michael dell stomach a future with black stone? but i wondered what a customer thought? describe the first time you met. you brought the flex in... as soon as i met fiona and i was describing the problem we were having with our rear brakes, she immediately triaged the situation, knew exactly what was wrong with it, the car was diagnosed properly, it was fixed correctly i have confidence knowing that if i take to ford it's going to be done correctly with the right parts and the right people. get a free brake inspection and brake pads installed for just 49.95 after rebates when you use the ford service credit card. did you tell him to say all of that? no, he's right though...

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>> power run down is back. topic number two is dell. black stone is going to start due diligence on dell and the

question is whether dell, michael, specifically, can work with the blackstone folks. reportedly he has never gotten along with dave johnson, one of blackstone's top folks. >> they are going to figure out that they need michael dell so they had better be able to get along with him. hopefully they will be a counter offer. i know who wants to do it as well. but look, did you see the proxy they filed? the pc sales keep dropping. >> as i understood it, both the blackstone bid and the i con bid would include some stub remaining public.

>> they need to buy out the whole thing. he has changed his lawyers now. so does this suggest, john, you, a lawyer, that he's ready to partner with the government and sing against steve? >> even a couple weeks ago we were starting to hear rumors that he may be in a mor cooperative move. that gets along with the district attorney's office? >> this guy was the former chief of the major crimes unit. might be able to be more effective in some way. >> his new lawyers are the guys who can hopefully cut him a very good deal. i would think that is what he is doing.

>> and a live video chat service for users. he said it's part of a branding effort that will give users access to more services during extended hours. >> here is the problem. didn't we create these machines so they wouldn't have to have bank tellers? and now we're telling them they have to hold people's hands? isn't that what they have tellers for? >> i think that teller looked like brian sul van. >> i don't get who wants to be shouting their bank information to a video screen? i would like to take out some money! >> that guy's got a goatee. have a great weekend, sue. >> guys, it's down 89 now. two hours to go until the closing belch at session highs. final check on what's moving next. i know what you're thinking...

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♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your personal retirement review. >> remember, we were sharply lower early on. so this is a fast improvement. the s&p 500 is off and the