tv Squawk Alley CNBC March 30, 2015 11:00am-12:01pm EDT
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street. also 11:00 a.m. in indianapolis, indiana and "squawk alley" is live. ♪ welcome to "squawk alley" for a monday. joining us this morning, john steinberg. john, good morning to you. john fort, kayla here at post nine. pretty nice action as the dow's up 265 points. stocks rallying pretty much since the open. some analyst upgrades.
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yellen sounded a little more dovish on friday. hey, bob. >> it's very interesting. i think a lot of people were surprised by the strength of the rally. there's a number of theories floating around. let's take a look at the s&p 500. we basically started today flat for the year. now we're up about 1% for the year. a couple of people floating the idea that some of this may be due to pension fund rebalancing. for example, we've had a big outperformance by bonds this quarter. stocks basically are flat. bonds have rallied. bond yields have declined. ten-year bond was over 2%. you can see we're down. probably down 10% of the yield on the bonds. so there may be a little out of bonds and into stocks. that is supported by a look at the sector today. energy, utilities, financials and industrials. what are the big losing sectors
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for 2015 so far? energy, utilities, financials and industrials. the big gainers today are the big losers that we've seen op the year. i noted this trend last week and said that there's likely some kind of rebalancing going on with some people. nobody puts out a press release on it. but that's likely what's going on. for example, metals and oil services, there's your oil service one, the second one, transports have been underperforming. even banks have been a little bit disappointing. all those are doing pretty well today. some big buyers in energy again. the iye, the energy etf, has had huge volume today. somebody is buying this thing really big. and it's only 11:00. people still trying to buy bottoms. you can see here sort of in the middle of its trading range. a lot of people have talked
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what's going on with china. one of the governors said, we're poised to do something. we're concerned about inflation and slower economic growth. he used the word vigilant, which means we may be doing something if things don't improve. >> we'll come back to you soon, i'm sure. meantime, apple ceo tim cook joining the chorus of business leaders denouncing that new indiana law. he writes an op-ed in the wost. says america's business community recognized a long time ago that discrimination in all of its forms is bad for business. that's why i oppose this new legislation. we're live with more. mary, good morning. >> reporter: good morning to you, karl. state lawmakers are scrambling to calm the fire storm of criticism that's erupted.
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state senator david long saying the legislature is working on a fix. >> to the extent that we need to clarify through legislative action that this law does not and will not be allowed to discriminate against anyone, we plan to do just that. >> reporter: since the law was signed last week, the response in the business community relentlessly negative. acknowled angie's list saying it's putting things on hold that would have add a thousands of jobs to the state. >> that we can't draw the tall leapt, then i can't commit the company. >> reporter: other indiana based companies echoing these concerns. eli lilly saying it's bad for business. nationally, many adding their voice to the chorus of
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opposition. paypal founder tweeting. yelp saying it will focus expansion in states that don't have these laws. now on the streets of indianapolis, many small business owners have taken to hanging signs on windows that say, we don't discriminate. to some, it's a source of frustration, because they feel they shouldn't have to hang these signs in the first place. karl, back to you. >> mary thompson in indianapolis, thank you so much. of course, you might have heard indiana governor mike pence over the weekend. it got a little bit tense. take a listen. >> this is where this debate has gone. >> it's just a question, sir, yes or no. >> there's been shameless rhetoric about my state and about this law and about its intention all over the internet. people are trying to make it about one particular issue, and
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now you're doing that as well. >> let's chat with john steinberg of the daily mail north america. as an executive running the company, smart to weigh in or not? >> i think it's a human rights issue and an ethics issue first and foremost. the fact that it's bad for business is only secondary to what a terrible law this is. i think if you're an executive or a statesman like a tim cook, why not come out and say what's right. that's my view on it. >> i think there's another side to it. but the bad thing about this is it's horribly unclear. i went and read the law and it can't tell what it is that it's trying to do. the people who apparently supported it don't seem to be willing to come out and say what this is exactly supposed to do and what it's not supposed to do. look, catholics don't have women priests. there are plenty of churches that don't want to do same-sex weddings. there are now christian clubs on
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college campuses that are not allowed to require that their leaders be believing christians and are being -- not allowed to have space on campus to have their clubs if they insist their leaders are christians. so, yes, there are issues here where religious people are concerned that government is preventing them from exercising their religion in the way they want. i think everybody needs to be clear and have the courage of their convictions to say exactly what this is supposed to do and not supposed to do. >> the question it seems to be is over clarity. there was business opposition before it was even passed. now there are lawmakers saying if we need to clarify, we will. there were questions about the clarity of this law before it was passed, some of the language and how the language wasn't similar to other laws in other states that might be a little bit more lenient about this. i'm wondering what you think
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we'll see happen with the opposition that business has been so vocally bringing in the last few days. >> there are so many open issues about what individual businesses will do. mark from sales force on this at the end of last week, he owns a large business in indiana. he owns exact target. he said he's not going to make investments there. what does that mean for that company? is he going to pull that company out of indiana? >> we're getting pushback from viewers saying why aren't you covering the other side of this. i asked if she was hearing of any businesses that have come out in favor. she said she hasn't heard of any. >> nobody is coming out clearly saying, it's a misinterpretation, and the other side has not been too vocal. >> what about people who argue, john, dealing in this case with a lot of tech companies who deal with china which has human rights abuses of its own.
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why is that not a double standard? >> i think some of the people in favor of this law said it was more about not requiring catholic institutions to offer birth control as part of their health plans. clearly that is a big national debate that continues. clearly, this is also an election year. it's in some people's interest to stir up some of the cultural war issues. but i think we have to be clear about what exactly these issues are and have the debate about that. this law of the language to me isn't year. it's not clear if it's an end around where somebody's trying to give ammunition to those who want to discriminate against gays and lesbians or if it's something else. >> i do think the ethics of how you conduct yourself externally play to how your company view you. i have three rules. is it ethical, sit good for our customers, and does it make us
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money? everything we do has to fulfill those three things. if you don't walk the walk and talk the talk externally, how can you expect to have a company culture that works that way as well. >> there were some institutions in the state that supported this law. but what's the upside now that there's this fire storm against it and it's in the books to saying, yeah, we were for it. >> interesting too to watch cook's evolution. >> very much a statesman now. the gender discrimination case everyone in silicon valley was watching. they decided kleiner perkins did not discriminate against ellen pao because of her gender. this was her reaction. >> i want to thankfy family and friends for your love and support during these very challenging times. i'm grateful to my legal team for getting me a day in court and to everyone around the
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world, male and female, who've reached out to express support in so many different ways and to tell me that my story is their story too and their gratefulness at me toward telling the story. i have told my story. and thousands of people have heard it. if i've helped to level the playing field for women and minorities in venture capital, then the battle was worth it. >> kleiner perkins said in a statement, the verdict reaterms that ellen pao's claims have no legal merit. we remain committed to suppo supporting women in venture capital. >> the biggest takeaway is there is a big cultural divide in silicon valley right now. two op-eds, button was by sue becker and the other by former ceo of palm.
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donna, you know, who i know. i haven't talked to for a while. it's apoll just for establishment silicon valley saying she had never really encountered discrimination as a woman. the real issues are not enough women in technical roles in the pipeline and unconscious bias toward everybody whether it has to do with gender, race, or what have you. sue decker saying, yes, she encountered multiple over time and congratulated pao. >> while kleiner perkins may have as a firm won this trial fair and square, the jury clearly sided with kleiner here. the anecdotes, the damage is done there. the fact that now you have a lot of lawsuits against publicly traded company, class action lawsuit against twitter right now that could at some point in a year or years to come go to
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trial. those companies are going to want to make sure that this never gets to trial. if there are anecdotes, that could do damage in and of itself to the way investors and employees feel about the culture or the company of a partnership. fortunate wrote that the lasting and beneficial impact is a lot of workplace males across the country are quietly reassessing their own past conduct praying that sleeping dogs are left to lie. >> also for the industry as a whole, so many facts about the industry came out. i was shocked to read of a substitutstudy that only 6% of venture capital companies are female now. a fortunate story saying only 4% of senior people are women. these are facts that are now out there that were less covered before. >> would you agree she was a less than ideal plaintiff? >> i don't know. to be honest, i didn't follow the specific case that closely. i followed more of the facts coming out around the entire
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industry and statistics. i think that is more what people are left with. how male dominated the entire industry is. on a whole different level. >> she was a less than ideal plaintiff. i don't know that the ideal plaintiff exists. >> in any case. >> certainly when you've got lawyers as good as cliepers, nobody's going to look like the ideal plaintiff by the time they're done with you. >> people are writing that it is a wakeup call. do you agree with that? >> as much a wakeup call for the women in silicon valley calling for change and saw ellen pao lose on all counts as it is for the establishment. there is this huge divide in people seeing silicon valley very differently. i think we're going to see that kpexacerbated over the next several years as this new group of people, women, underrepresented minorities try to gain some influence.
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if you want an apple watch, you better make a reservation. even if you preorder, you will still need to make an appointment to pick it up. that's true for all three models. anyone who's curious and just may want to try one on. >> i have big news. if you buy the $10,000 watch, you don't have to wait on as long as a line. big shocking news. i think they're going to have big problems selling these expensive ones. i really do. i've talked to a lot of people. none of them have said they want to buy ten and $17,000 watches. >> i don't think they want to sell that many. i think they want to say it's available so people feel better about buying one for a thousand dollars. that's what i suspect. this is an issue though. the bottle neck of just being able to try one on is going to be an important one. the customers who buy these first are going to have to be the ambassadors of this thing. when somebody comes into work,
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do you like it, can i try it on. that's where the hands on time is going to come. not in the store. >> so we're all genius workers. i assume those of us who are going to get it. >> are you going to be able to teach yourself how to use it or do you actually have to meet one on one with someone? >> and on usability, business insider has a got article this morning. they talked to a bunch of different developers. they haven't had the watch. they don't know how fast the crown turns or doesn't turn. i think the first bunch of apps out are going to be a little bit of a mess. i am already gooding pushes of things updated for apple catch. i think they're not going to be very good. >> i think it was to 9:00 to 5:00 mac that the expensive things are just not him. >> yeah. i think there's a reason why this is coming out in april and not in october.
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it's because they know there are kinks to work out. they've got time at wwcd. they're developer conference to say, hey, we're making tweaks. >> you mean for holidays. >> yeah, for holidays. they get to try this out in their own apple store environment, figure out how the flow works. then decide, do we let the wireless carriers carry the watch. how much do we need to open this up. >> my advice, you always want to get the one just below the bottom. you never want to get the 128 gig, but you don't want the 16 gig e her. i think you go for the low end model, but the larger face size. if you go too low, you run out of whatever before you're ready to get the next one. >> you're going to stick around. >> yeah. >> when we come back, plenty more on the new indiana law. reaction across the tech world. plus a new competitor in
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streaming music. we're going to tell you why jay-z could pose a real threat to companies. and let's get one more check on the markets. dow has barely budged. we're up 267. "squawk alley" is back in a moment. thank yoand my daddy. sailor, thank you mom, for protecting my future. thank you for being my hero and my dad. military families are thankful for many things. the legacy of usaa auto insurance could be one of them. our world-class service earned usaa the top spot in a study of the most recommended large companies in america. if you're current or former military, or their family, see if you're eligible to get an auto insurance quote. ...to cook healthy meals... yet up to 90% fall short in getting key nutrients from food alone. let's do more... ...add one a day 50+.
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service owned by jay-z is set to officially relaunch under new ownership today. the new streaming service appears to have the backing of music heavy weights like beyonce, kanye west and daft punk. right now it costs about twice as much as spotify each month. we should find out a lot more about tidal this afternoon. there will be a press conference at 5:00 p.m. eastern. is there room for another streaming service? >> i think maybe so. jay-z has all the people over at his house last night launching on title. it seems to offer a window of release for music. so you get to hear it first on the streaming service. they've got two levels. one is $10 a month. the other is $20 a month. it's supposed to be high fidelity and sound better which is think is important because streaming music sounds pretty
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bad to me most of the time. but 20 bucks a month for music? i don't know. i don't know if that tier does well. he certainly has the star power. >> i like the verge's headlines. enlists millionaire musicians. i'm not sure marketing left works in technology quite the way it works in other lines of business. i wouldn't want to bet jens jay jay-z. but it does seem to me like higher quality digital sound, i'm not sure i see it. >> what if the value add is album release, an exclusive album release? remember when beyonce put her album on i tunes. now she's on board on this service. >> jay-z knows beyonce. they're quite close. >> you want everything at an affordable price. you'll go and buy it on a one-off basis on itunes. if he had launched something
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exclusive, kind of like when itunes sells it before it's available for rental. are people going to drop that for tidal. >> this is bad news for apple and samsung. beyonce did that deal on itunes. jay-z did a deal with samsung. so it was a house divided. now apparently they're coming together on tidal which means neither service is as likely to get that big name artist to help them ahead. apple is out there. >> every one of these musicians has to do something now that nobody will buy music anymore. i mean, i thought they were just going to tour and make all their money that way. >> i think they're making enough that way. >> software services? >> good to see you guys. >> john steinberg joining us this morning. up next, a great day for
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dreamworks. we will tell you why in just a moment. overall markets in rally mode. dow up 257. s&p and the nasdaq holding onto gapes as well. we did get surprisingly gains this morning. when "squawk alley" comes back. hello. i am technology that is changing investing forever. i am a fully automated investment advisory service. i can help you choose the right portfolio. monitor it. and even rebalance it.
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welcome back. dreamworks animation shows nice pop this morning. julia is in l.a. with more. >> that's right. their home grossed $54 million at the u.s. box office, but $20 million more than expected this past weekend. shares flying higher this morning. now they're up about 6 3/4% right now on the surprise success of the film. it's the studio's only release this year. delivering the biggest opening
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since 2012 and third best opening weekend for a nonsee quell in dreamworks history. this is exactly what they needed to reduce the stock's downward slide. it's down about 35% over the past two years after the company took a writedown on three of its last four films. that prompt add major restructuring. in january, they laid off nearly 20% of employees and reduced film releases from three to two a year. now with this strong start, home is expected to at least break even. it cost about $135 million to make. the studio said that sets it up for year to break even or better. karl? >> definitely paying attention today. meantime, simon is out today, but let's down to the close in the u.k. stocks did rally after last
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week's decline. german helped by improving economic sentiment. hopes that china's financial bank might add some stimulus. intel in talks to buy altera. greece seeking approval for reform proposals. this in exchange for the much-needed rescue financing. all right. when we come back, we breakdown the black lash to indiana's new religious freedom bill and the verdict in the ellen pao trial. dow's up 266. we'll take a look at some of the biggest movers in just a moment. financial noise
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good morning everyone. here's your cnbc news update at this hour. a shooting at the gate of the nsa's ft. meade installation left one person dead and another injured. a guard reportedly engaged in an altercation with two men disguised as females. there was no early indication it was a terrorist i vent. the supreme court declined to hear a new challenge to president obama's health care law which took aim at a bureaucratic board labeled by
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some republicans as death panels. thousands of jetblue passengers delayed this morning by a system-wide computer outage. long lines of passengers at several airports across the country. jetblue says the problem has been fixed. and comedy central named trevor noah as john stewart's replacement on the daily show. and that is your cnbc news update at this hour. let's get back to "squawk alley." >> thank you so much. as we sort through the data from the last week causing some on wall street to adjust their first quarter gdp numbers, we have a wrapup on that. >> just down to zero at least in one case. personal income numbers coming in at 0.4%. inflation adjusted.
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the savings rate surging to 5.8%. the highest since december 2012. here's the cnbc wrap it update. falling again by a very strong 0.4% with the range zero to 2.2. economists are looking for a big bounceback in the second quarter. here are some of those first quarter tracking numbers. goldman at 1.2. moody's analytics at 0.6. and there's steven stanley at zero, flat. this is turning into a ke returns of last year's night anywhere first quarter. he said he is very confident of a bounceback in the second quarter of consumer spending. karl, saw you didn't get the daily show job. >> i had a good run, though. thanks so much, steve. the backlash to indiana's
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religious freedom law is growing. pinning an op said saying the law sets a quote, very dangerous trend. he says it gives businesses a license to discriminate. joining us is kara fisher. why is all this happening now? >> because of the supreme court decision on gay marriage probably. i think it's coming soon and it looks like it's going to legalize gay marriage across the country. and i think a lot of these states are trying to react and put in laws that will try to go around it in some way. >> why does it feel like tech is taking the lead in this case? >> because tech always takesed leet on this issue. ibm was one of the first companies to deal with things like this, sexual discrimination and orientation discrimination. i think it's always been in the dna of tech to try to be more
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tolerant. it's a little libertarian on the side sometimes, but at the same time, it's always sort of had this kind of bent since its beginnings. >> it seems to me like there are a number of potential issues wrapped up in this law. but the same-sex marriage and discrimination against gays and lesbians has taken center stage. don't we need more clarity on exactly what the motives were behind this law? >> come on. you know what it was intended to do. it was intended to diskram nate against these trends happening in the society. we can debate all you want, but that's what this is. it was tried out in arizona. >> i don't think we do know that that's the entirety of it. there are catholic organizations that have not wanted to offer certain health care options to women. it's about that too is it not? >> it's an interesting legal
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discussion. obviously. this is going right to the supreme court again, these kind of things. that's where it has to be decided. this is so common of years and years of all kinds of discriminatory acts. i think many years ago, to understand i'm not a legal scholar. these were the same arguments used so white and black people couldn't marry. this goes on. they don't want to stop because the secular trends are changing. and most businesses do recognize that discrimination is not the way to do business. >> there's an expectation that there could be an economic impact from this. parallel being drawn to arizona in the '90s losing the super bowl to the rose bowl over the state's unwillingness to recognize martin luther king day as a holiday. do you get the sense that tech companies will do more than just raise their voices about this? >> i think they've talked about it in different ways. i'm not sure how many tech
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companies do business in indiana. although there are a lot of companies there. but i think they've -- apple has had a long history of doing this in texas. 25 years ago in round -- i forget where it was in texas. it was a similar thing about extending different benefits to gay and lesbian employees. they had a fight going on long, long time ago. this is an ongoing fight that will continue as these secular changes go through our society and that certain people don't like them. they'll use any means necessary to fight them. you know, i respect religious beliefs. but our country has had a history of dealing with this issue and it will in the courts. we'll see what happens. tech companies for the most part, everyone was like, lerts hear the other side. there's not one tech company i talked to that thinks this is anything but awful and shameless. the governor was talking about it being shameless. >> we've been on the hunt for
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companies that have been supporting it. >> there aren't any. >> if we can find one, we're going to put them on the air. >> absolutely. >> you mention the co-founder of paypal. talked about this earlier this morning. >> the best thing indiana can do and all the other governors and states where these laws are being proposed is to speak very clearly and just clarify that discriminati discrimination in their state is not okay. that's clearly put out there, i think a lot of people will feel differently. if you dit error don't quite say it out loud, these kind of laws clearly state that discrimination is welcome back and that's not okay. >> he gave credit for drawing at least his attention to this. mark was relatively early on this. >> i think -- that's a very common tone for everybody in tech. a lot of people are shaking their heads, they can't believe
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this. obviously live in california, slightly different state. although we had our issues here. one of my favorite plays is angels in america. it says the world only spins forward. that's the great hope. you're going to see these kind of reactions to changes that have happened over the past 20 years. for business people, they're just not going to tolerate it and not -- you can call them but they're not going to tolerate did it crimination. >> i asked this of john earlier in the show. tech companies do a lot of business with chinese officials. >> i heard that. >> why is this different? >> because it -- why would you have to pick and choose? see, i hate to say it, media question. >> sure. >> why pick and choose? that's not good either. it's not that it's one or the other. you're absolutely right there is hypocrisy there. but this is our country. they can effectuate change here. these are u.s.-based companies
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operating under u.s. laws. this is something that is part of their country. it's a little bit harder to change an entire country. especially a powerful country like china. they certainly should speak out. google certainly has and have suffered for it. others are trying to figure out what to do in a lot of these countries. it's a really complicated situation as we move toward a global economy. that's what we're in. we're in a global economy. we'll see what happens with all these reloi jous and other cultural norms. >> yes. almost as complicated of course as gender discrimination. losing her case against kleiner. your thoughts as to what happened on friday? >> there's no perfect victims. it was a very difficult and confusing case. you listen to the jurors, i really admire this jury group. they thought really hard. it wasn't this slam dunk for
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kleiner perkins for sure. we wrote an essay, it wasn't exactly a loss and it wasn't actually a gain. they just didn't feel that ellen was -- that that's why she lost her job. they ruled -- they held against her. the same time, i think they were thoughtful about how confusing it was and how difficult of women and men and gender are in the workplace. i think that kleiner understands that. i can't imagine they think -- they're doing any victory dances over this. i think all of silicon valley got a little bit of an education of what goes on in the workplace and how gender differences are confusing and maybe the law isn't quite there on what's happening which was interesting. jody canter from "new york times" said something, that gender law and the experience women have in the workplace are very vimpbt and is a big kaz m right there. it's a really interesting discussion to have. because women experience something different than the law
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allows for. >> obviously every case has very different circumstances. different parties invested in it. do you think that this has any ramifications for some of the other lawsuits outstanding between employees of other companies in silicon valley? >> no, i don't. i think the conversation has moved this forward enormously. everybody needs sort of a wakeup call. it was a wakeup call for these issues. there are other cases, there are egregious cases of discrimination. i don't think people are going to feel like, i'm not going to now sue because nobody can win. it's the same thing with gay rights too. things were horrible and things change over time. these things take time. it's very slow to change. and -- but i do think this case was a hallmark case because it's got everybody talking and thinking hard about what they fight do in the workplace. and that's always a good thing. i have to look at the
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hopefulness of this. ellen pao did educate people over possible problems they might have in the workplace. >> kind of a heavy monday. >> it is. my god! you want to talk about my disney cruise. >> next time we'll talk about netflix or something. >> anything. >> good to see you again. when we come back, another surprise contender in 2016? we'll tell you who might be jumping in. dow's up 265. s&p up by 1%. rick santelli, you must be watching the action in the markets today. >> absolutely. i see $48.37 on the krad contract. we're going to talk about all the issues and the big price drop in crude and some of the things we don't normally talking about. love 40. how's your back hand? score, ow i have o thanks to all the tools and help on experian.com. so how are we going to sweeten this deal?
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coming up at the top of the hour, halftime is live from the morgan stanley wealth management alternatives conference right here in new york city. we're going to get investment ideas today from some of the biggest names in wall street. along with michael from aries management. and joan solotar will be here. a special edition of the
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halftime show in less than 15 minutes. >> sounds like another great show. thanks. in case you missed it, another competitor in the race for the white house perhaps. here's what she said on fox news yesterday. >> what are the chances that you're going to run for president? >> very high. >> you're a former businesswoman, give me a number. >> higher than 90%. >> really? >> yes, sir. >> if you remember, she ran unsuccessfully for the senate back in 2010. now, carly is going to join closing bell for a live interview this afternoon which starts at 4:00 p.m. eastern. >> we're getting into that sweet spot where potential candidates are going to be starting to announce. april/may is when she said she would be potentially announcing her candidacy. >> got tread cruz on. definitely more to come. let's get to the cme group this
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morning. hey, rick. >> good morning, karl. you know, there's a real talk about how we lack in energy plan. let's take a view of the world and oversimplify. i'm calling this segment 40 love. here we are on that 20-year chart in the 40s in terms of energy. this is an advantage of all advantages. you look at the turmoil going on in the middle east. it's been going on many centuries. part of the u.s. involvement in the region is to protect energy. at this point in time, think about how it's such a lack of coincidence that the intensity of what's going on in the middle east is ramping up as the price of crude oil is just falling down. we should be making hay when the sun shieps. this is all about 40 love. consider this. we've had this historic advantage. what type of plan do we have?
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we don't really have a plan. the price drop is being debated in the marketplace most likely because the energy sector, the abandoned orphan, at a time where all the political champions seem to be for renewables. they're not ready for prime time. we need to be ready right now. think about the context of europe and russia. never before could sanctions be as important as they are with the price at this level versus 100 or 110 or 120. are we realry going to regulate europe to the notion of vladimir putin or the mideast and these very important strategic areas inhibit oil? is somebody monitoring this? this is a time where we should be looking at the logistics. we have talking about building a giga factory for battery
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technology that hasn't arrived. what are we going to do in the meantime? what does that do for our energy in the here and now? when i hear things about, okay, the pipeline is only going to be moving canadian oil, i get that. doesn't the u.s. government, the mexican government, all have to look at north america as one unified way to guarantee that the catalyst of the energy price drop, the technologies of fracking are available should we need them. is there a talk about moving forward on exports and ports? no. remember, one of the big complaints against keystone is well, the project is temporary. building roads and bridges. they get done. that's temporary too. back to you. >> all right. thanks so much. coming up, we're still watching the markets on this second to last trading day of the quarter. every single sector in the green led by energy even as oil is
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weaker. we'll get you a check on that when "squawk alley" returns. financial noise financial noise financial noise you can call mbut,allow... i have a wandering eye. i mean, come on. national gives me the control to choose any car in the aisle i want. i could choose you... or i could choose her if i like her more. and i do. oh, the silent treatment. real mature. so you wanna get out of here?
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might get a framework for a deal, remember, iran is one of the biggest producers in the middle east and also their break even over a hundred dollars a barrel. these sanctions imposed by the u.s. certainly squeezing that country. it would be in their best interest to try to work with the u.s., to try to creates a situation where negotiations could be worked out. there are people reporting that it may be difficult by the deadline of tomorrow night. but that's what traders are thinking. that means more supply coming on the market which is a bearish factor. watch today the dollar index well over 98. so couple of things happening here that you need to keep an eye on. back to you. >> thank you very much. when we come back, shares of netflix finally seeing some relief this morning. we' explain the move when we come right back. a cloud computing stock you're holding, we can help you decide what to do.
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until she stepped down in january of this year. the ceo said, quote, we look forward to benefiting from their perspective. >> convenient move seeing as hastings was on microsoft's board until two years ago. they know each other. >> remains to be seen whether microsoft would go into content. >> no. >> is this saying they're not competitors? >> they're backing away from content. i don't think that's going to happen. >> meantime, stock was almost -- started flirting with $500 back probably in february. of course a good month. come back a bit here. competition has come on strong and quickly. >> and all kinds of content. talking about music and video. every week some new streaming subscription service is launching. >> we opened up 200 some odd points and really moved to the
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30 or 40-point range. busy week ahead. we're going to get a lot of data. adp on wednesday and that jobs number on friday. >> the market will be closed. >> has only happened about a dozen times since 1980. let's get over to headquarters. actually, no. the morgan stanley wealth management conference. wapner and the half. ♪ welcome to halftime show. a special edition of it today live from the morgan stanley wealth management alternatives conference. live in new york city. over the next hour, we're going to be joined and get some investment ideas from some of the top names in the business including york capital's jamie dinan. morgan stanley, michael from aries management and joan
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