w on the halftime report. meanwhile, an interview tonight at 5:00. >> melissa, thank you. we look forward to that. get your "power lunch" to go on cnbc.com. "closing bell" starts now. welcome to the "closing bell." i'm kelly evans. >> i'm bill griffeth. we have a rally. we are setting highs for the days right now. the dow jones industrial and the volatility is back in a big way. up 238 points. now, we had strong bank stocks today because of the stress test last night but weak retail sales this morning. that didn't matter apparently. and intel talking about how companies are not replacing their pcs at a very fast rate anymore. intel is down 4.6%. that's inside the dow.

meek mike iscrosoft is suffering as well. >> you could argue that the dow would be doing better if it weren't for that development. at the same time you have a company like disney contributing about 33 points of the gains that we're seeing today. dow is up 1.4% which is outperforming the s&p and nasdaq. there's disney up almost 4%. if nothing else frozen 2 and star wars 8, is it? >> i've lost count. but, yes, a real tug-of-war of sectors that we'll be talking about over the next couple of hours. >> another stock not joining the rally is box. it's getting hammered since its earnings report. the ceo aaron levie is joining us. he says the analysts got their expectations wrong and that's why it looks worse.

>> people are saying if we got it straight now, why is the stock still down as sharply as it is. we'll talk about that with mr. levie coming up. we're at the highs of the day right now with the industrial average up to 140 points. a game of 1.3, almost 1.4%. that's the outperformer. we've taken out a few resistant levels according to art cashin. in spite of the weakness and technology led by intel, nasdaq is up 36 points. let's get to our "closing bell" exchange today. heather hughes from sun america funds is joining us from d.c. and meg green from meg green and associates. chris is with us from the new york stock exchange and dennis gartman is joining us as well as rick santelli there in chicago. meg green, what did you make of this market today? i mean it appears that it's the

financials that are more important than say, retail when you consider the bad retail numbers and yet we're still higher today. >> you know what i look at the market as a basket. i don't look at it as pieces and this volatility is a great opportunity to buy. up until today, the s&p and nasdaq were not positive for the year and actually were very very close to 15 years ago and the pes are not as high as 15 years ago. it's the interest rates that are scaring everybody. i don't get t iit. i don't understand why janet yellen and the fed would think about raising rates other than oops it's time. some say they will raise rates and lower it again if we're in trouble. that's ridiculous. unemployment is at 4.6%. wore really low.

there is to be low inflation and maximum employment. they are looking at those two to see when the rates raise and it's not right now, in my opinion. >> heather, what do you guys think here? what markets look attractive? >> yeah. i think in terms of what is attractive as we see a rebound in financials meg alluded to that all eyes are on interest rates and perhaps because next week we may continue to see or hear that word patient using retail sales as another macro data indicator, economic point aside from just unemployment or in addition to unemployment as well as inflation and we're saying, hey, we're going to keep rates lower for a period of time. so the financials have caught up today as well as interest rates sensitive sectors, such as utilities look utilities look okay.

>> chris, you were saying that it would be an asset allocate for's dream time because we're going to go through what you feel would be a confusing period in news. what do you mean? >> the confusing period happens ahead of the next earnings and then you have the fed meeting but more particularly in this environment right now, you have a massing turning point. you've got the united states zero percent interest rate policy in the next six months perhaps longer than that shorter than that. you've got an expansion of potentially $2 trillion in euros from the ecb and they are in polar open sits. this is a buffalo market widespread across the prairie. there's a lot of opportunities. and when you get weakness across risk assets based possible confusing high frequency data that is an asset allocate for's environment. >> a lot of different places dennis getting royaled by the strong u.s. dollar. i feel like channelling the brady bunch here and just saying dollar dollar dollar.

what do you make of all of this? is this upward spiral going to continue? >> well, i think first of all, kelly, we have to understand that the fed has already been tightening as the dollar gets as strong as it has been. the fed really can't move to tighten monetary policy anymore otherwise you'll drive it into the 90s. that the economy would have a very difficult time with. we have to understand we've seen a rather material amount of tightening taking place. i think the stock market has done an extraordinary job. it went down to what i call the box, which is the 50 to 62% rallies and now you're moving from the lower left to the upper right. it's going to continue to be a bull market. market is down. people have heard me say this before. it's going to be a bull market until it stops and it hasn't stopped yet. >> there you are. with the dow up 254 points

we're setting highs. rick santelli is it possible? we've highlighted the retail sales numbers that have disappointed. is it possible that that is bad news that means good news because the fed doesn't have to raise rates any time soon? >> is the euro up or down today, bill? >> euro is up today. >> that's where your stock market is up. look a correlation chart for the last month. that's the dynamic going on. we have smart guests but i so disagree. the reason the dollar is up lately in large part is not because of the proactive activity of the eurozone although a good chunk of it has been, it's the pricing normalization. to stop now would be fool-hearty. how many times do we want to go through this? certainly i get it. i understand raising rates at this time may not be a good idea but it's because of the logic we have today that we didn't do it

in 2011 or 2012 when we have a window. it's hard to land an airplane that is gliding when you're going with the wind. okay? the management to the economy through monetary policy is a tough one at zero interest rates and when the rest of the world is going highly negative they have given up their management. as far as the comment about low inflation, that's not what it says. the congressional legislation that created the pillar in 1977 says, stable prices. and anything beyond that is what the fed has put on top of that. >> youbut i think it also says low long-term interest rates. the fed is in the corner because now the way i see it is we're asking questions that are important but this is not for one or two or for a committee or two to decide.

a small committee deciding these big issues can be wrong. that's why a free market is better at doing it, even if they have hiccups because there's nothing that has less hiccups that i know of. >> meg, he took aim at you in particular on the inflation issue. what do you say to rick santelli on that? >> first of all, it is supposed to be long low-term interest rates and the inflation, if you take out fuel and you take out food, then yeah you can say inflation is below 2%. it's way lower. if you really look at a lot of the measures you're not seeing inflation. so -- >> and why are you worried about that? let's take -- let's forget all the canned answers. exactly why do you worry that stable but slightly lower prices were -- why is that bad for you? give me a reason. >> first of all, 3% of our -- first of all, just a second. 3% of our gdp is interest

payments. you don't want to be paying more. second of all, we have low wages still. so you're -- you know what the job openings went up 2.5% to a 14-year high. that means there's going to be competition in the job market. competition in the job market means higher wages. higher wages, now we're getting somewhere. okay. once we get there, start raising the interest rates a quarter of a point. >> one of the big reasons is that deflation is bad because people put off purchases. >> right. >> if you said i'm not going to buy that car because i'm worried about deflalgstion. have you ever seen that? >> no. >> we've heard of it in the housing market. >> we have an $18 trillion debt and that would be one main reason to be worried or concerned about having inflation

and not an inflationary environment and we're looking at $18 trillion in debt right now so that would be a huge problem. >> right. >> chris, do you want to jump in here? >> what is the reason to raise the rates? give me a real reason. >> anyone? >> we're m achlal investing. what do they use that money for? a stock buyback. >> that's positive. >> but we can debate a bull market. of course it's positive. let's look at the reality of why it's happening. that's why it's more important to deal with. >> we've got to go. dennis do you want a quick last word? >> rick you have been wrong. it's been a bull market it continues to be a bull market. >> i never said that mr. gartman. i said why it's going up. so it doesn't matter that the fundamentals don't match, in your opinion? not at all? >> go ahead, dennis.

>> 2.2 2014 gdp, down retail sales up. >> of course we'd rather see gdp at 3.5%. of course we would. but we're certainly better off having negative gdp growth better than europe is at this point. >> right. exactly. so why are rates at zero? why are rates at zero if we're so much better off? >> i understand that. quit fighting. >> why raise them? >> one of the other things to quickly think about -- >> very quickly chris. >> very quickly. this stops when we get an inverted curve when the profit cycle is completely over we get high oil prices again. outside of that it should continue to including along. >> all right. correct. well, we've had quite an exchange. i love it when smart people come together and can't agree. we didn't reach a conclusion that's for sure. but we must conclude at this point. thank you, folks. >> appreciate it. >> with the dow down a little more than 45 minutes to go here as we said, the dow is up 256

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rally day on wall street. the financials seem to be leading the charts even though we have weak retail sales numbers. intel talked about the weakness in the pc business. so that's down today with microsoft but when all is said and done we're sitting at the highs of the day kelly. and with the po30 components

inside the dow, you have crisco lower as well. >> free stock trading, zero overhead, that's what the creators of the robinhood app are hoping to provide. they want to make it easier for millennials and first-time investors. robinhood is catching celebrity attention and from the likes of snoop dogg. >> i love that snoop dogg is on this thing. with us are the apps co-founders. good to see you both. thank you for joining us today. you don't charge them anything to trade. how are you guys going to make money? there's no advertising involved radio it? >> yeah. so we're able to run this business a lot more efficiently just building it from the ground up. ten years ago, bill it would have taken a team of 500 people to run a brokerage business but we can do it with a team of 25 30 and we make money in a lot of

the same ways that brokerage make money, minus the commissions. so margin lending, collecting interest on cash balances anything that has to do with money. >> does that mean that you guys can scale this? is there any limit to how big you can get or be? >> we feel comfortable with our ability to scale this. we were letting people off of a waiting list that had nearly a million people on it starting in december. and as we've let those people off the waiting list we feel really confident that starting today anybody will be able to seen up and we'll have the infrastructure and support staff in place to support them. >> you've targeted millennials primarily. why do you think they haven't traded in the market to this point? your solution seems to be because it costs too much or it's too confusing. is that the reason? >> that's a big part of it. since robin hood came into the app store, we've sold customers over $5 million in commissions

and having a trading commission 7 to $10 really prevents someone from making the small type of transactions that they want to be making when they are just starting out. so you can't make a $100 trade if you're paying 7 or $10 in commissions and for somebody starting out, that's the type of trade that they want to make to get their feet wet and find out how the stock market works. >> we're not setting any account minimums for robinhood accounts which we think is really interesting and unlocks the markets. for us there's really no limitations on the minimums. it's up to the customer. the way we like to think about it is a few years ago, a company like square unlocked the vendor market and we see robinhood as unlocking the microlending market. >> is it untoward us to ask when do you expect to make a profit and make money in this? >> certainly.

we have great investors backing us. we've only been live for two months now. we have a long time to figure that out but we expect in a year or two we'll have our customers, a little more mature they'll have a few more years in the working place and we'll work with them and grow into the brock rage as traditional ones have. >> thank you, guys. robinhood co-founders, the entire industry keeping an eye on them. >> yes, they are. heading to the close, 45 minutes left of the trading session with the dow still hovering at the highs of the day, a gain of 250 poepts. s&p is up 25 and nasdaq even though it's lagging, is up almost .75%. steve liesman taking on the fed. >> do we want our banks to have to hold on to enough capital for a 10% unemployment rate of all time? that seems to be excessive. >> is the fed stress test on the nation's biggest banks too heavy handed?

does it stifle lending and economic growth? and also joining us barney frank. and i have a feeling he's not going to agree. stay with us for that.

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welcome back. finally we have a rally. the dow is crawling back to 250 points. as you can see there, the second best sector on the day utilities, interestingly enough making a comeback here too.

not sure that's the kind of performance you necessarily want to see if we're entering a new pair paradigm. there's disney's "frozen 2" and "star wars." >> the second batch of results came out last night, all except bank of america didn't do so well yesterday. so it is trading lower but everybody else is doing pretty well. morgan stanley up 6% today. >> that's for sure. we want to visit something that we covered yesterday. steve liesman suggesting that banks having to operate under the assumptions may no longer make sense. he joins us now with former representative barney frank on the phone who of course had a big hand in some of these regulations. steve, first to you, you want to clarify anything you said? i'm curious what kind of response you got overnight. >> i didn't know i'd be here

today and the name is on the bill. if you look at economic outcomes lending is lower. i did a story this morning that showed that 40% of mortgages are now with mortgage banks and we have been pushing lending outside of the regulated system when i look at the idea the federal reserve approving capital distributions, approving dividends, it feels like those banks are almost practically nationalized and it's not the state that we want to be in. is there a way to think about the market and the boards of directors doing their jobs and setting a appropriate capital distributions and share buybacks? lending has gotten more expensive for a lot of people and i think we want to ask ourselves the question is that the outcome from dodd/frank? i think we think about maybe we've gone too far. one of the thing is who is to say that the stress test is the right stress test? is it too hard too soft? who knows? >> barney frank, has the

regulatory pendulum swung too far to one side do you think? >> no not at this point. we are still in the early post recession sector. with lending, it had gotten out of hand but if you look at the overall amount the overall effect, we have an economy that is performing better than any economy in the world of a developed sort. we have a market that continues to do very well. we have financial institutions with morgan stanley up 6%. as far as capital standards, i want to make this separation. that's probably a result of -- i have no -- i can't comment on what would be the major whether -- it wasn't the result of the bill.

but i think it's too early to declare complete victory. it's still running with department institutions and they are doing very well. yes, there has been regulated, one of the things we did do is a legislation, was to create regulations, institutions that were not within the normal regulatory sphere of the consumer bureau has regulations over there. i will say that one thing that the regulators did since the bill which i regret is not to implement risk retention for residential mortgages. >> you know, steve, one of the points that sheila bair was making yesterday, one way of looking at how risky banks are. what would you say about the total assets and liabilities and the extent to which, yeah they probably should have a significant buffer even if we're at 5.5% unemployment and not 10?

>> i think that's one of the best outcomes of the dodd/frank bill and i think the efforts of the united states lend to lead to higher capital standards throughout the global banking industry. it's very, very important. i think there's a place where you need to let it off. i agree with what the former congressman said that there are regulations in the mortgage industry. the question is why the banks are not lending more and whether or not regulation has gone too far in terms of the level of their house and with all that land underneath unused. we had a banking analyst on saying that the fed is testing for not one financial crisis but for two. why 10% unemployment? is there a role for the market here in figuring out the right crisis? >> go ahead, barney frank.

>> steve, i have to say, first of all, the stress test is only of the biggest ones. so -- >> like 80% of the system right now. >> yes. secondly, there's less lending -- unemployment is dropping growth has been very good. the market is moving. so it's hard for me to see what the overall macro negative has been of that happening and the only other thing i would say is why do they have to deal with 10% unemployment? because we just did. it's not like living on mars. >> what if that turns out to be a once in a 100-year-event. should banks hold capital for something that only happens once every 100 years? >> here's my response to that. within a couple of years we'll be able to say that with more safety and erring on the side of

somewhat less lending until we are pretty sure that we've got these things in place. and you know this is new to the fed but i'm not ready to say that whatever -- we're not going to get to 10% unemployment for another 100 years. i wish i could say that. >> if i could just respond to -- >> very quickly, steve, and then we'll go. >> one statistic is that the increase in lending was six times faster on average than it was in this one. that, to me is the potential macroeconomic impact and it's good news to hear that representative frank it may be time to revisit. >> recessions were never caused by terrible lending. that's a somewhat different comparable here. >> all right. barney, i know you've got to go so we're going to let you go. thank you very much for your comments on that. steve, as always. >> pleasure. see you later. >> time for business news update at this hour. headlines with sue herera. sue? >> congressional testimony, a

department official has said bank irs agents say that 3,000 people have been swindled out of $15 million. they threatened their victims with jail time if they didn't pay up quickly. disney is developing a sequel to "frozen." the chief creator officer made that announcement at the company's annual shareholder meeting. disney stock is up nearly 4%. an arrest of ten members of the organized crime family which has long been thought to be the real life inspiration for "the sopranos." and the 10 millionth visitor to the museum was greeted with balloons and gifts and has been invited to the rock and roll

hall of fame induction. and all of the fun begins at 6:00 p.m. eastern tonight on cnbc. that's the cnbc update at this hour. back to you, bill and kelly. >> we should mention, bill, all of the guests coming to the ""mad money"" celebration. >> you should see the lob bow. well-deserved for jim. >> absolutely. he'll join us later. >> half an hour to go here. dow is up 250 points. it's been a difficult week for the index trying to break into the green and for the green here as we look at the s&p and nasdaq up 40. >> box's ceo on the maiden earnings report, causing a twitter fight with analysts that cover the company as well. we'll talk about that with him

in just a moment. don't touch the remote.

welcome back. box shares sinking today. depending on how you look at it

a quarterly loss. >> that's the bone of contention with box's ceo. josh lipton what is the story on this? >> well bill the heads were in the clouds. box posted a q4 loss of 1.65 on what appeared to be the consensus view of a loss of 1.17 but box says that number was wrong because analysts set expectations based on the wrong share cap. box's ceo aaron levie tweeted as much after the call. the real consensus estimate, he says, was a loss of 1.99. in that case box's results much better than expected. in fact there was good news in this report. revenue, for instance climbed to $63 million. yes, operating expenses jumped and marketing expenses as a share of total revenue fell. what is the problem today? analysts say investors want to

see a higher revenue guide. box's forecasting revenue growth from about 30% for fiscal year 2016. that's a slow down from the last fiscal year. remember box is moving past online storage, which is a comedy product commodity product and instead offering tools for specific industries, such as health care and finance. box is down hard today but still up 25% since its ipo. when i asked whether box can get back to growing at a 50% clip he did sound confident saying there's a lot of tailwinds in this business. bill, back to you. >> josh, thank you very much. we get to ask aaron the same thing. here's the man at the center of the controversy. >> joining us for a first cnbc interview, aaron, welcome to the program. if the expectations were made

two hours ago, i would understand your point. shares are down 14% so there are fundamental concerns about your business here. >> yeah. and just to confirm, we actually -- the thompson reuters number which had a different eps calculation, unfortunately, included a miscalculation of shares. they ended up apologizing for that and has corrected the numbers and they landed at the $1.99 figure. on revenue, on operating income on billings we beat the estimates from analysts. obviously we are still pushing on growth. we're going after our $25 billion market and we anticipate a lot more growth in this business. >> i have to say, kelly and i heard from an analyst who follows your company very closely and his message was, look aaron levie is playing this game way too much way too early in the process. you just came public.

this is your first earnings report. keep your head down and run the company in and don't worry about the perceptions at this point. so what do you say? do you feel like you're coming off a little too defensive this early in the game? >> well we obviously want to make sure that we set appropriate expectations and our communication as well is in line with the market and for the most part we're just focused on execution. we had again, a great quarter behind us and a lot of growth going on this year. our number one focus is absolute execution on the business. >> let's talk about those billings for a second aaron. to quote antalysts, we're disappointed in the total growth, which is 41%, which is again, good-bye based on established standards. people are buying into you and into this story and a $25 billion space, they want to see growth perhaps accelerating or at least holding up at a high rate. what would you tell them about whether that 41% growth figure

is going to be higher from here or not? >> well as we gave with guidance yesterday we expected to do over $280 million in revenue. we guided up for the next quarter of revenue. our focus is as we've seen from our investments, we're investing deeply in the security of our platform. so ensuring that customers have the best way to protect their information in the cloud. we're going after our industry strategy for box, financial services, box for health care box for retails. you're going to continue to see us working for larger and larger enterprises like general electric, like mason and many of the recent customer wins that we've announced. that growth is going to continue and our focus right now is on the top line metrics and more conversions to break even. >> and clearly to get companies like that on board, you've got to have sales and marketing but analysts have long faulted you for the amount you spend on sales and marketing. as one analyst -- as another analyst said crazy high. yes, you're bringing it down but

it's still, the last i heard, about 88 cents to the dollar. i mean are you still working on bringing that down or are you comfortable spending that much at this time in the life of box? >> well if you look at each quarter last year we actually brought it down by a meaningful percentage of the total revenue. you will continue to see that trend. at the same time we are going after a very significant market as was mentioned, it's a tens and billions of dollars of market where there's a transition from on premise technology to the cloud. our job is to capture as much adoption as possible and because as a recovering business model, we get payback on that investment pretty soon after we apply our customers. we're happy what we're spending but at the same time you'll see more convergence on those trends because of the revenue scale of our business and as we continue to move up market. >> and aaron, you're continuing to drive down the cost of storage across the space.

i'm just curious if you fundamentally identify yourselves as a storage company or as a services one. >> first and foremost we're a constant collaboration and software company. you need to have storage to enable those activities. when you want to be able to share and collaborate and access information from any device we have to be able to fundamentally store those files. when the cost goes down in the market and you see going bell and its storing prices that lowers costs in our business. we get immense leverage in the storage prices and we maintain a premium value proposition and we've been able to maintain price over the last three or four years because we invest deeply in the industry strategy and customers are buying a software product to be able to manage their data but we also store that information for them. >> quickly, before we let you go aaron, is running a publicly

traded company what you thought it was going to be? are there too many people looking over your shoulder and telling you how to run your business? what do you think of it so far? >> we're only five weeks in. or maybe six weeks now. there's many more lessons we're going to learn. certainly making sure the e perform sps number is accurate and we've been running our long term for the past decade. we started the company ten years ago. our focus has been what is the long-term trend in this business and we have an appreciation for the different kinds of demands in the investor community but our number one focus is building out a long-term company that is going to transition how they use their information. >> got to go. aaron, thank you so much for being here. >> thank you so much. >> aaron levie, the ceo of box. >> yes, ma'am. 17 minutes left in the trading session. we're holding steady. dow up 250 points. s&p up 25. nasdaq is starting to pop now up almost a full percentage gain

there as well. jim cramer celebrating "mad money's" tenth anniversary. jim will be here to talk markets and the very special show he's lining up today live, by the way, with his fans coming to the studio, tonight.

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welcome back. it's a big day for cnbc and one of our stars, jim cramer as "mad money" celebrates its tenth anniversary. >> the show airs at 6:00. he needed two studios to accommodate the number of people clamoring to be in his live studio audience. the mad fans have taken over our cnbc headquarters there in new jersey. here's a look at the "mad money" madness. >> boo-yah. >> from dallas texas. >> we're from boulder, colorado. >> steve and lucy from bowling green, kentucky. >> boo-yah. >> i actually just started watching cramer last year and i've been really learning a lot about the stock market. >> i wanted to welcome myself to

cramerica. i am not here to make friends. i'm here to pay homage to the derek jeter of the financial world. >> i've been watching since he was on kudlow and cramer. >> we're happy to be here to celebrate your tenth anniversary with you. >> congratulations on ten wonderful years. >> we love you and you really need to consider running for public office. >> thank you for helping the little guy out. a big boo-yah to you. >> and there he is the man with his fans in one of the two studios for tonight's show. jim, welcome. good to see you. you've got a couple hours left to go. can you give us any hints about tonight? >> we have chipotle on tonight

and then we're going to talk to boeing. he buys his planes in dollars. this is the greatest american manufacturer today. >> what did you think of the box of aaron levie. this kid has been running this company for ten years and suddenly he goes public and he's already playing the beat game with wall street analysts and his stock is getting killed today. >> i have to tell you, bill and kelly, congratulations on really holding his feet to the fire. i thought it was an amazing interview. i do think that there were some good positives in the quarter. there were some great partnerships and really good contracts. i do think that underneath it there is good growth and there's an element that is saying listen we're not going to raise expectations. i look at this company versus drop box. its valued five times that. i'm taking a -- i guess i'm a

little less jointed than most about this company. i don't think it's a bad company. i think aaron learned a great deal even during your interview. >> i think so. we look forward to tonight, jim. congratulations, it's been a hell of a ten years when you consider all that has gone on and people have really looked to you for guidance over those ten years. we look forward to tonight's celebration as well. >> and kelly, thank you so much. >> tune in to a special edition of "mad money" tonight at 6:00 p.m. live. jim will be talking to chipotle monty more ran and jim mcnerney of boeing. the dow is up 262 points. it comes despite another dollar drop in the oils price today settling there, bill. people were hardly paying attention to. the euro is rebounding so several cross-currents to work with. >> art cashin just mentioned, a

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dow is up 260 points. dominic chu is joining us. >> a quarterly loss and same-store sales loss. shake shack managed to climb between its lows and highs. intel is also the worst performers when it announced it will be less than previously expected due to a slow down in demand for pc customers. let's end here on the bank stocks. they have given back some of the gains. morgan stanley, the best performer in the s&p. other standouts on the heels of the stress test results from yesterday afternoon, bill. back over to you. >> kelly is getting ready for next hour. bob pisani and i will come back. stay tuned.

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three minutes left. this is the dow on monday. the big rally. tuesday, the big selloff and wednesday went side ways. today, another big rally. so you wonder where are we going here? net, though for the week we're up .2% as we go into friday. one reason we're seeing the

strength in the u.s. equity market is the euro came back against the dollar. yesterday was at a $1.05 and change and today it's up to $1.06. david kahn is joining bob pisani and i. we've seen plenty of weakness and strengths. >> we buy on weakness. every time we get a 3 to 5% pullback investors have been conditioned to -- >> eventually it's not going to work though. >> earnings are okay. i think it's a buy. >> earnings speaking of which, we're going to get some numbers coming out. >> zumie's coming out after the close and aeropostle. i think a couple of things are going on today. you short europe and go long the

u.s. reverse the trade. that's been working very well for the last several weeks. in addition to that i really think that we've been dramatically oversold. there's been signs that a lot of hedge funds have been having low exposure to the market and shorting the market. we had a huge rally at the open and no sign that we were going to have a big rally in the preopen and that indicates it is trying to short coming. >> what are you buying here? >> we like europe as much as the u.s. the story that doesn't come up as much how much the dollar strength benefits european countries. they are looking at a 15% cost advantage. it's not going to happen overnight but fundamentally these offshore companies have a cost advantage over the u.s. and we're looking at valuations more attractive than here in the u.s. >> 2 to 4% hits to their earnings and sales and put q4 as a result of negative currency we've seen the dollar rally 355%

against the euro. >> good to see you, david. bob, see you later. we're going out here with a rally. volatility continues today. it's a rally. what happens tomorrow? let's talk about it coming up as we get ready for the earnings during the second hour of the "closing bell." see you tomorrow kell. >> thank you, bill. welcome to "closing bell," everybody. i'm kelly evans and we have a rally across wall street today. let's take a look now, the dow has a gain of 259 points. nearly 1.5% on the session. good enough to put it just about back at the 17,900 level. speaking of levels nasdaq at 43. still closing at 4893. and s&p is up 25. 2065 is the level. joining me here at post 9,

nathan diane and our very own kayla tausche. nathan, you get the first word here on the market. you like the way it's trading or no? >> all of a sudden we don't have the threat of a rate hike. we decided once again when you look at the numbers, the market has decided we're not going to have a rate hike until september. >> is that what today's actions are about? >> the retail numbers said you know something, things are kind of slow. slow is good. bad news is good news. we're not going to have the strong dollar. i think the fed is going to have to wait. >> we have a combination of a couple of things coming into play. first, absolutely the strong dollar is going to negatively impact earnings. even listening to the biggest bellwether companies like apple. number one question analysts have is what is the impact of the ever so strong and growing dollar. the other thing is retail sales.

around 10% of all retailers, e-commerce, this means the bad weather cannot account for the dramatic drop that we saw in retail sales. this is going to have to cause the fed to slow down this rise. >> the financials were one of the best sectors today. utilities actually did even better. that sounds to me like a rate fly on the back. stress tests. >> and traders are getting defensive again, the fact that some money is going into retail. that is one of the factors that is going to cause the fed to possibly pump the brakes on a rate hike. as bob pisani pointed out today internet sales up. just because retail sales -- just because the headline number makes it look like it's weak third month in a row that it's contracting, consumers are spending money and feeling

confident. they just couldn't get to the stores. >> what say ye? >> retail sales numbers -- the retail sales numbers scared people. i think that the thought of a rate hike was pushed off the table. i don't think they are hiking rates anytime soon. the markets stabilized yesterday. had an interesting day today. financials yesterday off the stress test. you made the point about utilities. the market had been oversold. it all adds up to a day that we're seeing today. i guess earlier, right before we came on in the last five years, every tip of the magnitude that we've seen over the last couple of days has been an opportunity to buy it and that continues to be the case. it doesn't mean that i believe it's right. but that's the way that it's been to play the market. >> at the same time just thinking through here, if the market guide today decided that it was going to finally rally after a couple of tough sessions on the idea that the rate hike is being put off, i mean it feels like hardly an encouraging development. >> of course not.

>> six years into this -- and about this economy. >> i think it's speaking the same language and you have to parse your words a little bit. i get it. but i'm a big believer that most of this rally, if not all of it has been based on the belief that the fed is all knowing and will guide us through. so far, so good. i don't think they are adequately prepared for to stick. >> you know we have to keep in mind the last time the fed began a rate hike season it was 2004. let's think about this. the red sox hadn't won a world series since 1918. what a different regime we were in. and they raised all the way through 2006. it's been so long since we've had a rate hike i think that's one of the things we have to keep in mind is the last time -- >> the last time they raised rates, "mad money" wasn't even on the air. >> when does american business decide that a quarter rate hike is not going to kill it? >> that's my point. >> talk to the markets. >> we can handle this. when oil prices went up at

procter & gamble they said guess what let's reformulate everything so we don't use the petroleum product and they made money again and went on. has american business lost its jones? it doesn't have game anymore? it has to have everything perfect, lowest rates possible and great exchange rates? is this what has to happen to have a price of perfection? >> kale layla? >> it would be interesting for guys to take on this. we're seeing all of the corporates borrowing in swiss franks because they feel that their capital is better overseas and it's not a femphenomenon going away anytime soon. are they not? >> you make a great point. one of the energy companies was based on prop trading.

so to your point, some companies do it better than other companies do. to be a multinational based ohhen what we see in today's currency markets, i think you have to have a an outlook of where you are going. but 25% of our earnings slashed because we lost money in currency risks to me that is unacceptable. it might have been acceptable ten years ago. unacceptable now. >> i know we say this and it's easy to complain about currency. you want to find those names, diane, that are fundamentally strong, innovative top-line sales growth. >> you're right on some of them but for apple in particular and a lot of technology companies, what makes the strong dollar so good for them is that a lot of their inputs just got cheaper. right? their manufacturing, labor costs are not -- we know that there

are some in china created in california. so when this dollar gets strong look to those companies. the one thing that we don't have to worry about is the companies that really -- >> i'm sure people would argue, though, that's offset by the fact that they also sell a lot of these products where they don't get as much money back because of that. >> let's think about the flow. what they do is use chinese currency, use the u.n. to create their product and then they sell it in france right? so they get euros. then they translate back to dollars. >> if they bring it back. >> if they bring it back right? so certainly it's important when they go from euros to dollars they will take a hit but their import costs are dropping dramatically. >> things are lining up great for the consumer. i think when you look at where retail is going to go it's going to be great. everything we have comes from somewhere else. if you go to costco and don't like the tv this wokeeek, you go

back next week. the money is building up in their accounts based on the savings. >> whoa, whoa, whoa. wait a second. >> americans don't budget and all of a sudden americans are going, gee, i have some money and they are going to start spending it and it's going to go further. >> you know the health of the -- don't confuse the consumer spending with the health of the consumer. and kelly tweeted something an hour about how -- >> i was going to bring it up. >> 96%, the lowest levels since 2002, as if that's some great number. think about that. 96%. that's historically on the upper end of the scale. yes, the american consumer will always spend money, especially when they see the stock market rally every day. doesn't mean they should be and i'll mention one other thing, retail sales last three times reported miserable. i thought there was a huge gas tax we were going to enjoy. >> it take as while to adjust. that's why it's building up --

>> no. it does not take a while to adjust. >> yes, it does. >> and gas prices ratcheted right back up. call the folks in california and ask them what they are doing with -- >> obviously the first quarter gdp doesn't look good. the fourth quarter, the consumer spending number it could be 5%. the problem with the data and all of the changes and how we're spending here this was partly on the service survey. it means it's so hard for us to know in realtime how strong things are. q4, that consumer spending number, is going to turn out to be super strong. >> well kell listen again, their spending money doesn't necessarily mean they are equipped to spend money. i think that's where i -- yeah i can see the numbers and say it's a parade out there. go out to the apple store and line across the street. it doesn't mean they should be waiting on that line. >> are you going to get an apple watch? >> dlarsthere's a better chance of

me winning powerball than getting an apple watch. i mean, what do i need a watch for? everywhere you turn you can see what time it is. >> we should do an age test. as you look around over the next few days look at the age of people still wearing watches. >> are you going to get one, diane? >> oh at this tender age? i'm not in that market. >> guy, thank you. good to see you. much more coming up on "fast money" with the rest of the crew at 5:00. they will be talking to joe sanderson. shares of the publicly traded names, don't miss a moment of that. here investors have been worried that the strong dollar could hurt our market and economy. my next guest says don't fear king dollar. and u.s. investors need to save $2.5 million for retirement. do you really need that much? we're going to find out. can data help cure a disease? the right treatment for you is out there.

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the dollar and euro inching towards parity. my next guest joining me is the commentator

commentator at "the wall street journal" who wrote that there is not a currency war. greg you said we should not be worried about a beggar policy. is that right? >> yes. this is a positive sum game. it's not a zero sum game. when one country uses this as the european monetary has been and the bank of japan did it beforehand, it has a couple of effects. investors start looking for better returns elsewhere so you see money rushing around the globe that pushes up stock prices and also forces other banks to do the same. so after ecb went to quantitative easing korea cut interest rates, you look at everybody going for easier monetary policy. everybody's stock markets are going up right now.

>> do you take issue with that? do you see that as a positive move? >> when you look at the dollar not good for earnings but from a macro perspective it is being hurt. >> is being hurt? >> yes. international developments do matter so they watch this but globally i believe it's better but it's something holding back growth marginally. >> we were discussing today's moves in the market and people here discussing the moves saying that it basically looks like the market is expecting the fed to go later, maybe because of the strong move on the dollar. is that the wrong interpretation of what the fed should do here? >> i think it's exactly the right interpretation. now whether this is a enough of a move of the dollar is another question. you're absolutely right, a stronger dollar puts downward pressure on prices. what is interesting is the decline in the oil prices pushed

down headline inflation into the negative territory and we're going to see the effect of the dollar on the core measure of inflation which is what the fed watches the most. we'll hear more about this next week of course but whether to go in june or later month, the stronger dollar lines up in favor of moving later rather than sooner. by the way, kelly, this just strengthens my point. the fact that the european central bank is moving the qe pushes the euro down and leaves the fed to decide whether to ease monetary policy for longer. >> the greatest -- the smartest guy in the room was our previous fed chair who said, i'm out of here. i don't even want to deal with these things. >> the guy who left the room? >> yeah, bernanke the smartest guy who left it to other people. the question is are we just suffering because we're the folks to do quantitative easing and we got to the head of the pack and now we're going to pay the price and it would have been

really wonderful if everybody did it sat the same time. >> this is a great question. it goes back to europe and what they have done in the last five years. >> the u.s. recovery is faster than what you have elsewhere in the rest of the world and it's clear that the rest of the world is lacking and now that they are implementing u.s. monetary policy is indeed of a bit of a difficult consequence for markets and that's why the dollar is moving as fast as it is and when you have markets that still like it basically suggesting that now the fed is on hold for longer and thereforewe'lltherefore therefore we'll have a risk rally. >> diane? >> one of the thing that is interesting, we keep talking about the fed and the qe and greg brought up wonderful points. will be there a central bank anywhere in the world that will actually hit their inflation rate in that's one of the things we need to think about is we're talking about all of this great gdp growth on the horizon. is anybody going to have inflation and, if so which

countries are going to be first? >> that's a great point. virtually every central bank that is undershooting that target including countries like great britain even china, so in some sense it's a mixed blessing. yes, the so-called currency wars, the positive sum currency wars do lead to monitor conditions but one of the things responding to is the fact that inflation rates are lower around the world. >> yes. >> and for those countries like the united states and china whose countries are appreciating, it makes the low inflation deflation risk a little greater. >> kayla? >> we talk so much about the dollar/aur dollar/euro and i'm wondering if you see something percolating? >> asia is not that important to the u.s. compared to how important the u.s. is to asia.

many of the questions that i get, where are the stresses in the system are there any countries or stresses that will spill over to the u.s. banking sector that we should worry about? so we have a split between the macro being better and better but what many people are investigating is there anything special going on in the financial markets, any bursts that i should worry about that will create systemic risks to the overall rosy picture that we have for the u.s. >> we'll leave it right there. greg, thank you to you as well. we're going to track the monicher that can catch on. greg from "the wall street journal." thank you both. mark cuban told us right here on "closing bell" why he says the tech bubble is worse than the dotcom bust. steve case has a different view. $2.5 million, is that the

new magic number for retirement? that's coming up on the "closing bell."

can it make a dentist appointment when my teeth are ready? ♪ ♪ can it tell the doctor how long you have to wear this thing? ♪ ♪ can it tell the flight attendant to please not wake me this time? ♪ ♪ the answer is yes, it can. so, the question your customers are really asking is can your business deliver? don't chu has the numbers. hi dom. >> el pollo l ochl co reports the estimates.

they also see earnings for 2015 coming in between 67 and 71 cents. the midpoint of that narrowly beats the estimates up by 5%. aeropostale, down 5%. 180,000 shares have traded. their earnings and sales cover better estimates although they do see a q1 loss per share between 53 and 61 cents. that's very much worse than what the analysts were looking for and ulta salon and beauty they saw comparable sales beat analyst estimates. q1 revenue guidance better than expectations as well. as a result those shares up 7% on 208,000 shares after volume as well. kell, back to you. >> a couple of green arrows. mark cuban made the case why

this tech bubble is worse than the one from 2000. steve case wrote an op-ed with his take on that charge and joins us light now from the forbes reinvest inventing american summit. steve, welcome to the program. good to see you. >> thank you. >> you don't totally disagree with him but you think he goes too far? >> yes. i think the valuations have been high. the main point mark was trying to make is that angel networks and crowd funding was fueling that. and that there's too much of that happening. that may be true in a few places like san francisco and new york. it's not true in most of the country, including the heartland here in chicago. most entrepreneurs in most parts of the country do not have that initial capital to get started and the whole idea of building outcrowd funding is to give more entrepreneurs a shot more of a level playing field for them and for investors. so i think more capital to entrepreneurs in places the rise

of the rest that we call it for those that need it is where the focus should be not just in silicon valley or boston which already have a lot of capital and investors. >> i'll bring the panel in here in just one second but i'm sure -- please educate me. factoring in the dotcom bubble that seemed to be a narrowly focused event in terms of the activity, all coming again from the silicon valley area. no? >> not really. the dotcom -- 15 years ago, there were a lot of people investing in the market. there's some companies that did well and struggle when things turned around. but angel investing, less than one-tenth of one percent are angel investors. we think it can create more jobs and strengthen more opportunity if they have the opportunity to do it. there's too much focus on technology and silicon valley. they are great startups in chicago and des moines and atlanta and austin all around

the country. what people on the coast call a fly-over country and hear they call it the heartland. they need to get the capital to get started and they can give them that chance. >> diane? >> i think, steve, you're making some great points and kudos to you for bringing up in particular chicago and the midwest. about five years ago the university of chicago started high park angel. it's specifically an angel group where everybody gets together and they did something a little unique and certainly the country needed it. they brought together an entrepreneurial set of investors and in order to get seated they had to get vetted through the professors, meet with all of the mbas and certainly help connect entrepreneurs with tomorrow's business leaders and that started this great innovation and lots of angel investments finally happening in the midwest. >> here's the problem i have with cuban's comment. it kind of blotted out the sun and didn't really -- it made

everybody think, nasdaq or -- the whole issue of private equity got lost. in january 2002 the nasdaq was at 5,072 to 1 as a ratio. now it's at 3 and an investor may say, mark cuban said -- we're going to go through another crash. it was nothing like that when you look at the nasdaq. >> he wasn't saying that about the nasdaq. he was saying private markets. >> his comments got reinterpreted. >> that's not his fault. >> the bait got lost. >> yes. >> widows and orphans are putting $5,000 into an investor capital fund and that means it's a person who has $200,000 of income and a million dollars of net worth in order to qualify. >> i want to ask steve if we're getting to the point of silliness. people say they are coming to the table and offering the sums of table without doing their homework and they are starting

to be mutual funds and hedge funds and accounts with people's retirement in them. what would be a red flag to you? >> last word here, steve. >> i think there is some of that. the light stage private market has gotten frothy. but the early stage market technically in the middle of the court country is where more capital is needed. last year the venture capital went to three states and the other 47 states shared the 25% or so. we need to get more all across the country and recognize particularly at this early stage, they really need that shot. mark zuckerberg happened to be at harvard and had a rich friend across the hall when he had an idea for facebook. most people are not at harvard and don't have a rich friend but they should get a shot at this. >> good point. let's send it over to sue herera with the news update for us.

>> hi kelly. here's what is happening at this hour. testimony continued in the boston marathon bombing trial. the driver of the karr jacked by the tsaernaev's described his harrowing harrowing evening. police have taken several people into custody following the shooting of two police officers overnight. s.w.a.t. teams surrounded a house before taking in three for questioning. authorities have ordered the n fchl nfl to pay nearly $76,000 for the seating snafu in texas. the league must pay the money to seven fans who sued. actor comedian will ferrell attempted to play in five spring training games this afternoon, all as part of a funny or die project for hbo meant to raise funds for cancer research. quick programming note tomorrow

on "fast money," lumber liquidator, tom sullivan only here on cnbc. that's your cnbc news update. back to you, kelly. that should be an interesting interview, i would think. >> i was just going to say, sue, the coverage this week of both sides of the story and hearing from the ceo himself, we're looking forward to it. thank you for now. >> thank you. a big stop sign for uber lift maybe. a judge's ruling could blow up a judge's ruling. and senator heidi heitkamp is joining us to talk about sex trafficking in the oil patch. that's coming up on the "closing bell." equals great rates. it's a fact. kind of like shopping hungry equals overshopping. hello. i am here to offer sophisticated investing strategies. my technology can help you choose the right portfolio. monitor it.

and automatically rebalance it. all without charging advisory fees, account service fees or commissions. that may be hard to compute. but i'm a computer. so trust me. it computes. say hello at intelligent.schwab.com at ally bank no branches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds

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welcome back. breaking news on the pc industry. josh lipton what's going on josh? >> kelly, we've been talking all day here of course about intel which cut its first quarter revenue outlook. in part, that was due to this weaker than expected demand for commercial pcs. now idc is out with the pc outlook for 2015. analysts forecasting that performpc shipments will fall this year and that's a drop from the

previous forecast of about 3.3%. total 2015 volume now projected at 293 million p krchlcs. it will be interesting to see how things react here. >> that's a pretty big decline. thanks, josh. in the meantime dr. doom standing by's stocks and maybe not so coincidentally we have a huge rally today. that story is topping the hot list. bring us up to speed, alan. >> dr. doom whenever we say that it draws people in. marc faber is usually gloomy but he's looking at large cap stocks as a safe haven. another thing to look at ties in at what josh is looking at there. intel doesn't move the market the way it used to. now not so much. we take a look the reason all the mobile shift in the industry intel doesn't play in the space

all that much. there you go there. and finally, this has been drawing attention all throughout the day in the internet world, the uber lift case in san francisco. a couple judges said we're not sure if drivers are employees or contractors. it's going to have to go to a jury trial. that could -- if they are considered employees, that ups the cost a whole bunch and the whole sharing economy comes into play. that's what is drawing attention, kelly. >> all right. thanks alan. i'm curious what you guys make of this ruling and they have to treat these guys effectively as employees, right? >> i think there's a really important distinction that uber goes out of their way to make we are not an employer we are merely facilitating passengers and drivers and what uber sells is the application. they built the application, they sell the application, they are not hiring people. so i think that's a really important distinction that they constantly bring to the forefront. >> my daughter has disabilities.

she can't get from the university to her job without uber. there's no public transportation in much of the world like we have in the east and west coast. if it wasn't for uber she wouldn't be getting there. as far as i'm concerned rpgs, anything that disrupts that, i don't like. >> when employees talk to a driver they say, kbreyes, the opportunity is great. but what is not advertised is the costs associated with doing it no benefits having to pay the cost of the car. so i don't necessarily feel like they are just an app company. >> this will be ripe for discussion. coming right back we have to talk about this story. a million dollars, that's been the golden ticket to retirement. why more and more people are saying 2.5 million is the amount needed to retire comfortably. 2.5 million, is that really how much you need? and later, the energy boom is not bringing oil, females

have inundated that region some at a high risk. we're back in two.

welcome back. general motors information. hi, sue. >> gm is going to recall 64,000

chevrolet volts because of a carbon monoxide risk. and here's the story on this. apparently they are the model year 2011-2013. they need a software update to limit how long the car can be left idling and that's a move to prevent the possibility of carbon monoxide buildup because the driver may have forgotten to turn the car off. the gasoline engine runs for a long period of time with an enclosed space and that could build up carbon monoxide and you might ask, well, why would the gas engine be running? here's what happens. the problem occurs if a driver inadvertently leaves the car, the plug-in hybrid running while in electric mode and then it goes into gasoline mode and that's when the problem can occur. kelly, back to you. >> sue thanks very much. gm shares not moving too much. some downside pressure it seems, on that one. how much money do i need to

retire? that's one of the biggest questions looming around those worried about their futures. how much money they need and the magic money was 2.5 million. so do we really need that much? let's bring in a financial planner for her thoughts here. pat, welcome. good to see you again. >> good to be here. >> let's look at the 2.5 million. does that sound right to you? >> it's a good start depending on whether or not you -- >> it's a good start? >> it's a good start. traditionally retirement has three legs to it. a pension, social security and the income produced by your assets and savings. four out of five workers don't have a pension. guess what they have to make up that pension themselves. four out of five workers in the public sector do have a pension. but guess what those pensions are improperly funded for the most part and they've got a lot to worry about. it's a ticking time book waiting to explode. >> pat, i've got 1750 clients that are all middle americans.

>> right. >> and i have to tell you, the average balance is not $2.5 million. in fact, when i look at the industry, the industry says 2 to 5 million is high net worth. >> i know. >> are you saying that everybody is going to have to be a high net worth in order to retire? retirement is a function of how much your budget is on a monthly basis, whether or not you have a mortgage and how you're able to have social security with your savings. >> you're not incorrect but the basic premises americans are ill-prepared for retirement. the average balance in a 401(k) is a pitance to what people are actually making. people are ill prepared. we are not hard wired to get this right. nothing in our dna that says we're going to feg out our retirement. >> you really need $2.5 million

saved? from the moment of retirement until you no longer need money, you're looking at 30 years. $2.5 million at 7% that's $15,000 a month. that's a lot of money. >> ask yourself, do you have a pension? to the extent you have a pension and you can rely on that pension, you needless. to the extent you're already older and closer to social security, you probably needless. talk about a 30-year-old worker who probably has no pension and is looking at social security and thinking that social security cannot possibly deliver on the promises made to that worker and you're saying somebody has to do 100% themselves. so -- >> we have to get some intervention in the workplace because if this is where money is being put away we have to address the fact that 25% of money that goes into the 401(k)s every year comes back in the form of loans and a study said that 83% of people who

participate in a 401(k) plan is in the fortune 250. they haven't changed their allocation from one year to the next. unless they have the right allocation to extend their living 30 years when retired they are not making any changes. >> that's my statement. woefully ill prepared and -- >> i agree. >> and it shows how ill prepared we are. >> i'm going to make a personal goal of doing it less than 2.5 million. thanks, pat. falling prices have people talking about north dakota but there's also been a flood of female sex workers creating a dangerous underground economy. up next we'll hear from both a former prostitute-turned advocate and a north dakota senator trying to create a safe haven for these women. the "closing bell" will be right back.

well, sir. after some serious consideration i'd like to put in my 15-year notice. you're quitting!? technically retiring, sir. with a little help from my state farm agent i plan to retire in 15 years. wow! you're totally blindsiding me here. who's gonna manage your accounts? this is a devastating blow i was not prepared for. well, i'm gonna finish packing my things. 15 years will really sneak up on you. jennifer with do your exit interview and adam made you a cake. red velvet. oh, thank you. i made this. take charge of your retirement. talk to a state farm agent today.

welcome back. the recent drop in oil prices as put a spotlight on the oil boom in the u.s. with thousands of men far from home and cash to spend, sex

trafficking, bringing women to men who work in the oil fields. wendy knows this situation all too well as a former sex worker herself, she's one of the most prominent founders. wendy, welcome. >> thank you. >> what have you witnessed? >> well i have been quoted as calling the problem in north dakota right now an infestation and i would have to say that my opinion -- i'm using that term -- hasn't changed in the year that i've been doing the work there. >> is this a long-standing problem or has it gotten much worse with the recent boom in the oil patch? >> well we know that sex trafficking has been an issue in the united states for quite a long time but i think -- i actually know that the conditions of the oil field have invited an increase in the

reality of trafficking there. >> and it's very difficult to read some of the accounts of what happens there and everywhere in this country where sex trafficking is an issue. north dakota is aimed at providing women a place to go, as they are trying to get away from their pimps who are often violent, taking all of their income and leaving them with nol prospect other than this negative vicious cycle. >> correct. right now we're focused for 2015 on opening the first shelter that will serve victims of sex trafficking primarily but we do collaborate with existing programs around the nation. so if we get a girl who is in need of services, we quickly engage with those other organizations and get her out of the state and into services. >> have you been able to raise the funding that you're looking for, windie from private institutions public ones and what are the biggest challenges that you face?

>> i think awareness has been one of the biggest challenges. it's engaging people's heart in the reality of the issue. i'm really excited that we are lobbying for the bills to be passed that will make funding available. but in all reality, that's not going to be enough to address the entire issue throughout the entire state of north dakota. so we are definitely looking for private funding. we're doing fundraisers and doing whatever we can to raise the money. in order to open the shelter. >> and windie if the collapse in oil prices means a slowing in the sex trafficking in north dakota would you take your effort elsewhere, kind of follow the money so to speak across this country? >> i think right now we're going to remain with our focus on north dakota because we don't know if this dip in the oil prices is going to stick. and so we don't want to make any rush decisions. but after we're done establishing a solid program, we really have the hopes of

duplicating our efforts in following the oil boom so that other communities don't have to experience the shock that williston and the other surrounding areas has. right now our focus is north dakota. >> wendie thank you so much for being here, wendie lazenko working to address the issues of sex trafficking. joining me for more on the story is the junior democratic senator from north dakota heidi hide camp. camp. >> to back up what wendie said she cease it every day at the local hotels and the restaurants. we know studying advertisements that will be on back page or other places on the internet. we know there is a huge spike up in advertising horrific victimization on the internet. so we have a pretty good handle

that what she is telling you is absolutely right. this is epidemic. >> could you devote more state resources here towards some of the shelters she is discussing? >> i think absolutely. there is already some movement going through the north dakota legislature to up the shelter funding. but we have a bill here in congress that we're considering that i'm co-sponsoring with senator leahy and senator collins on runaway and homeless youth. we know that those children are the most likely to be victimized the most likely to be sold into this lifestyle, and we know that this funding and this intervention cannot only help those who have been victimized already, but it can help prevent victimization. and so that's a big piece of what we're trying to get done here in the next couple of weeks. >> senator i was on the road here on the east coast this past weekend, noticing a lot more signage, trying to draw awareness to the issue of sex trafficking, which is not just unique to north dakota. >> no. >> so you guys are seeing an

influx, of course because of some of the money. but can you talk a little bit about whether this has exacerbated an existing issue, or if it's really becoming something more ingrained and more difficult to fight? >> i think it's more ingrained and more difficult to fight. i think when you look at it, this is a global phenomenon. but 83% of all victims in our country are american citizens. and so that tells you that there is something going on. it used to be that you would have to stand on the street corner. if you saw a juvenile, if you saw a child engaging in that opportunity, there was an opportunity to see it and intervene. now it's all happening in the dark. it's all happening in the internet, the dark net. and it's more and more pervasive. and i will tell you this. based on the analysis that we've done, it is interconnected with drug crime. it's interconnected with gun running. it's interconnected with all kind of organized crime. and so those people who think this is simply willing buyer, willing seller another

reiteration of prostitution are wrong. these are children. the average age is 13 in this country. these are organized crime rings that are engaged in a lot of very horrible activity for our society. and this is only one part of it. but it is the most heinous and hideous victimization we can have in our country. >> before we go i was going to raise that issue about what proportion of sex trafficking victims are children. you say the average age is 13. does that mean it's roughly 50% of them? >> no what i'm saying is right now we're focused on children because that seems to be where the sympathy is. but i'm equally focused on how many adult women are in the life how many adult women need safe harbor, how many of them need to expunge their records. how many of them need a help up with student loan assistance and with job service. >> right. >> this isn't just about children. obviously, we're focused a lot on children because very many of them get into the life at a very early age. because they're runaways. but we're very concerned about the whole spectrum not only

because this horrible victimization, but it also includes people who are earning money in organized crime that we need to attack. >> senator, thank you for being here and helping to draw attention and awareness to the issue. that's senator heidi heitkamp from north dakota. the markets meanwhile rallying to some big gains today. what about tomorrow? the panel here with some final thoughts as we look ahead when we come right back.

welcome back. time for final thoughts with the panel. almost closing out this week. it's been a tough one until today. i like the point you guys are making off the top. if this is about pushing out expectations for rate hike, where does that leave expectations? >> it leaves the investor having a loft patience. this like a pilot? buckle yourself up. we're going have a few ups and downs. you're going get to your destination. i like hedj hedge. >> ah, one of those. >> i do not want to be naked in europe because when it translates back to a dollar you go. i got nothing to show for it. >> there is important numbers coming out tomorrow. we have ppi. and of course consumer sentiment. but i have to tell you, i think most of the market is going to be focused on wednesday. wednesday 2:00 fomc 2:30 janet yellen. i think that's where the kind of

answers will finally come to be for the week. >> great point. kayla? >> we talked about financials and utilities at the top of the show. they're two different divergent signals. financials will only move farther from here. and people do believe that the fed will move on rates this year. utilities, of course, the other direction. >> this goes back to the retirement discussion. people are saying the best thing if you want to live off $1 million or whatever the amount is to be able to earn a better return on the money that you can right now by leaving it in the fixed income instruments people usually do. >> you have to have a financial plan before you do anything else. i would liked to have heard pat say, let's get a plan first and figure out what the target. because your target is different than mine and different from diane's. >> right. >> ultimately, we live on budgets. >> there is a really important point that pat brought up. people are underprepared. and certainly the young folks are. so the number one message to remember is save now or die trying. >> and we're all going to live forever. >> thanks, everybody.

always good advice. always good to be reminded of that. "fast money" is coming up in just a few seconds now. melissa lee, what's on tap? >> an under the radar connected car play. lux soft up over the past 12 months. we have an exclusive with the ceo at the top of the hour. >> good stuff. >> "fast money" starts right now. live from the nasdaq market site overlooking times square i'm melissa lee. steve grasso brian kelly, and guy adami. shares are falling. we've got someone who says the stock is still a buy. and pollo loco shares coming upping in the after hours after the company delivered a strong revenue number. we'll debate your best bet in the restaurant space coming up. but we start off with today's rally. a weaker dollar stronger euro, helping push stocks higher. but currency fears still sparking some on wall street. raymond james downgraded garmin because of currency conditions. and intel cited the currency move when it cut its ou