year as a group. eufn is the ticker. now back above it's declining moving average and prior resistance. this is the play on euro qe. you don't have to believe it will fix the economy, but it will pump up asset prices. >> great. thank you. pretty interesting day on the street, and power picks up the story now. halftime is over. "power lunch" and the second half of the trading day start right now. >> scott, gentlemen, thanks very much. tyler mathison here. some big companies start to report their quarterly numbers this week, and the big question is are we going to see a net negative? either losses or declines in profit growth. if we do what's it going to mean for stocks? are we about to see a major buying opportunity? there is a buying opportunity in gold. the etfgld is up 25% over the past two years. is it a good time to put some green in the glittery stuff? there you see the spider gold

trust up $1.50 today. $156 million paycheck. well, that's for one ceo. the stock, however, down 23% in a year. mandy is out today, but kayla is with us. >> i'm excited to be holding down the ford today. we will, however, start with the markets as always. >> all major averages went into positive territory by just about 30 minutes into trading. the s&p up by about 18 points. that's good for just shy of 1%. nasdaq up as well. three-quarters of 1%. the russell 2000 which is actually the closest to any -- of any major average too it's all-time high. it's half a percent away from that all-time high sitting right now at 12:61.

bob is here on the floor with me. bob, pretty interesting day. especially given what we saw on the jobs report on friday. >> strange day. futures were no help at all to us. preopen. use usually we look at them for guidance. we were 2,044. yet, we move straight up at the open. we're at the highs of the day. thag that was no help at all. >> dudley helped the new york fed, mr. dudley talking this morning at 8:30. had dovish comments. then we had the strong ism services. it's good news. it's bad news. the bulls organized and the economy isn't really as weak. maybe it's some of the february numbers. they get it both ways. bad news is good news.

good news is good news. >> the metals are having a great day. gold stocks are up. even the base metal names. now, alcoa that reports on wednesday is to the up side. we did have disappointing news that mtv will not be able to close that deal with hudson city. still regulators looking at it. that's weighing on the group too. i think also just the overall concern about a flattish yield curve isn't helping them at all. they've been stalling for a while now. >> bank earnings kick off next week. we're going to talk about earnings in general a little bit in the next half hour. >> i'll have comments on what i think analysts are seeing on the earnings, and it's a little bit on the worrisome side. they really really overshot on the down side this time. >> bob, we'll see you in a bit.

bob on the floor. let's take a look at the q's. the etf tracking the nasdaq 100, which right now if you take a look inside that index it's down by -- it's up rather by about 1%. inside that index here is what's moving. tesla for one up big on record deliveries in q1. that stock up 8% on data over the weekend. mattel having a big dale dave on an analyst upgrade. that stock up by 5.25%. shares of sandisk leading the chip sector to the up side. priceline is another big winner. that stock is up by about just 2.25%. it's good for about three-quarters of 1% gain on the market today. here are some of the big winners in biotechs. exelixi. if you look at that chart, it is all green today. >> lots of gens in there, kayla, thank very much.

the president of the new york fed, bill dudley spoke this morning. he is the first big fed guy to speak since last friday's less than stellar jobs report for which steve liesman was here. working on friday on good friday. >> it's going to be important to determine the softness, whether that foreshadows a more substantial slowing in the labor force than i currently anticipate. >> the march labor market report is another indicator that the first quarter is likely to be quite weak.

>> it could lead to further decline in investment and it could mean a meaningful drag on economic growth. dudley gave no explicit hit on how the weak jobs report would affect his outlook on when the fed should first hike rates. the first time in nine years. except if it persists it persists, it would clearly push out the date. as it is he repeated the mantra, the fed is both data dependent and the rate hikes once they start should be shallow. middle eastern slope on the increase there. wall street economists mixed in their reaction to how the jobs report affects fed policy. >> there's two more jobs reports between now and june. now, there was, as bob said enough heat report on the service sector suggesting that

not all the data is soft. >> they moved up after the open and maybe after that isi report. let's bring in our cnbc contributor john rutledge chief investment strategist. john, good to have you with us. do you see it the way -- do you see it the way mr. dudley sees it? in other words, that the dollar is going to be a significant drag on the u.s. economy or just the excuse du jour for multi-nationals that don't quite make their numbers? >> i don't know about you, but i'm tired of federal open mouth operations where we should have had a down day. dudley opens his mouth. the markets make me think they practice their speeches in the mirror to see how the market is going to react ahead of time.

the long-term trend looks good. short-term not so good. i think it's more interesting now to make bets in the euro area than it is in the u.s. just for a while. >> the german market is up some 23%. if you shorted the euro, put most of that in your pocket right now because the u.s. growth is rather weak you want to not short the euro and just own the german or the spanish market, but, again, the u.s. is growing faster on trend than the euro and will continue to do so so i think this will reverse after the next month or so.

>> when i think of you, john i often think of china. what's your take there right now? >> well the central bank is strongly concerned with the slowing of the economy and doing things to put liquidity in the market. that's why the chinese markets have been up so strong recently. emerging markets as a whole, not so good because as the -- eventually the fed raises interest rates. it will hurt them, and they're already experiencing big capital outflows because of the anticipation of that. >> john always a pleasure to be with you. we appreciate it. >> thank you. nice to see you. >> john rutledge. kayla. >> thanks. let's take a look at gld, which is the -- it's down 25% in the last two years, but in just the last month it is starting to show some life. it's up about 4.5% today. it's up another 1.5%. todd trades gold in chicago for amberzino brothers. gold is such an emotionally

driven asset lass. oftentimes when you feel like you should be buying tshg it's the worst time to buy it from an investment standpoint. where are we right now? >> well kayla, i think right now what we're seeing is a little bit of affect effect from the big move that started in 2011 and 2012. we saw that huge gold selloff. if the fed sfwoendz raise rates, the bond should remain strong, and yielding should be more attractive than gold. i don't think that's the case here, and i think the fed is only one piece of the puzzle when it comes to gold pricing, and if you look at the volatility of gold which is very low, prices which have bounced off a recent double bottom, i think gold is a big buy here with all that you don't know about what the fed is doing, what you don't know about what's going on in the middle east, and as a buy and hold instrument, i think it still has a lot of value. >> there's still a lot, todd as you mention, we don't know and

oftentimes investors buy gold to fight inflation. >> when you look at yields in the u.s. and stocks at their highs, i think right now you're saying maybe we should put money away where we know it will be when we want to come back to it in six to eight months. i think the price appreciation over the next quarter or so when the fed likely doesn't move

rates will hecht you. if investors at home want to buy gold, how do they do it? >> i think you look at the gld. the etf is the easiest way for investors to get involved. i think you buy and hold it. you put it in your safe. there are several ways to do this, but i think you want to be general and keep it macroand be looking for opportunities to buy on dips like we saw about a month ago ahead of the fed meeting. >> we'll check back in with you and see if this trade plays out. todd coleman. >> kayla, thank you. throughout "power lunch" today we're going to look at three sectors to keep an eye on. on deck the utilities. something that could electrify your portfolio or zap it. here to date the vpu, the van garde utilities etf is down 3.6%. we'll be back to talk utilities on "power lunch" in two minutes. e

financial noise financial noise financial noise

>> that's the biggest total ever bringing its total to an all-time high over 10,000. take a look at the shaerz. up 1.9%. tyler, back to you. >> thank you very much. >> if you missed the lunar eclipse on saturday because maybe you were sleeping we thought we maybe could give you another chance to look at. it comes from the griffith

observatory in los angeles. the total eclipse lasted five minutes. it was the shortest eclipse of the century. the century is not very old yet. some refer to it as a blood moon because the moon as you can see right there, kayla, glows red. the next blood moon is set to appear on september 28th. >> we can set our alarms ty. let's check some headlines at this hour. shares of microsoft may be down 10% in three months, but up today up by about 2% nearly 3% after the company got an upgrade from wells fargo. wells upgrading microsoft from market perform to outperform saying the currently has already reflected in the stock and now is the time to buy. elsewhere in tech ibm hiring a team of advisors to fight back against possible activist investors. shares of ibm right now are up by 1.25%. they are down 22% in the last two years. last we're tv the worst

performing stock on the dow, and ibm has had 11 straight quarters of declining revenue. something that is on their radar as activists. toyota right now in trade is up by about .75%. shares up 26% in the last year. the japanese carmaker ending its plant expansion freeze planning to spend $1.3 billion as it builds two new plants in mexico and in chooirn. tyler. >> all right kayla. >> utilities down about 4% year-to-date, and one of the worst performing sectors this year. can utilities turn around in the second quarter? >> it gave us nice back drop. i think coming into the new year, january, had a lot of

enthusiasm for the stocks. mostly on hopes rates would continue to fall when we saw that reversal hit in february. they put a lot of pressure on the stocks. kind of defaulting to the old adage of sell utilities at interest rates rise. even if that might not be the right approach to the sector at this point. >> that's how dan explains it. mark, how do you explain the poor performance so far this year for utilities and dan points to that old adage that when interest rates rise utilities ought to be out of your portfolio. do you agree with that or is this time different because the rate and magnitude of whatever rate rises there will be are going to be so so small. >> well i think you hit on something interesting there, which is that we are on somewhat unprecedented territory. however, i think we do share the view that there's a lot of down side risk for utilities coming into january this month. the morning star utilities index was trading about 10% above where we see fair values. we're not terribly surprised to

see this reaction in the market. again, we think that's not really driven exactly by fed hike pressure from a potential fed height hike but that's definitely a risk. people view these things as fixed income it -- >> mark as we move to the second quarter and the rest of the year quickly, is this a sector that you would underweight, minimize eliminate? >> well when we look at the fully regulated utilities, absolutely. i think we see that broader sector still trading 8% bottom of. there are a couple of exceptions. >> okay. so dan, let me get in one last question to you. do you see it that way, or are there targets of opportunity for the sector that you like? >> well i think we can approach it two ways. from an asset class perspective, i think there's some attraction still to regulated utilities at this point.

i think there's reason to be here. on a more near term catalyst perspective, first quarter results for the group should be quite strong. power demand is going to come out better than people had expected. power prices are ending up stronger than folks were looking for. >> gold is about to close for the day. right now gold is up by about $17. up 1.5%. we will hit the pits and get you that close coming up next. check on the yield on the ten-year. let's take a look at it right now. 1.9%, of course, sent tumbling by that dismal jobs report on friday. you won't want to miss rick santelli's bond report coming up next. speaking of the ten-year

mortgage rates still super low. the rules of the game have changed dramatically. diana ohlich is live in washington with that story. diana. >> well kayla, a lot of folks are still crying tight credit. how tight? we'll put a big number on it coming up next on "power lunch." ed one million business owners get started. visit legalzoom today for the legal help you need to start and run your business. legalzoom. legal help is here. iful it is. ♪ ♪ honey, we need to talk. we do? i took the trash out. i know. and thank you so much for that. i think we should get a medicare supplement insurance plan. right now? [ male announcer ] whether you're new to medicare or not, you may know it only covers about 80% of your part b medical expenses. it's up to you to pay the difference. so think about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans

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exposed, but investors like it. 3-d systems shares up 3.35%. that's good news because the stock is down 50% for the year. tyler, back to you. >> all right. thank you. new report out shows just how many fewer mortgages were issued due to tight credit from 2009 to 2013. diana live with the details from washington. hi, di. >> hi ty. a staggering number. four million fewer borrowers would have qualified for loans between 2009 and 2013 if you use mortgage credit standards not from the housing bubble but from 2001 which was a relatively conservative time in the mortgage market. that's according it a new study from urban institute. take a look if you will. average scores needed to get a len today are still far higher than they were even in 2001. less than 40% of today's borrowers have fico scores below 720. not to mention, that all loans now need to be fully documented chshgs makes things harder for small business owners or those

who are self-employed. now, researchers at urban point to banks being extra cautious afraid they'll be forced buy back loans that go bad. they're going kind of beyond the normal underwriting guidelines. they have big fears of litigation. this report has actually sparked some argument after posted on the twitter some lenders say it's not the fiberingo score. it's the fact that income is lower than it's been in a long time. >> gold prices closing right now. up 1.5%. that is on the back of thoughts that maybe a rate hike is off the table for now. some dovish comments from fed officials this morning and elsewhere in the commodities market. take a look at silver. up by 2.25%.

copper is down slightly. rick tracking all the action at the cme. >> thanks kayla. indeed weak number on friday. dovish fed talk on monday. triple digit gains as we speak. look at a two-day of fives. they're now up five. look at a two-day of tens. up six. look at a two-day of 30s. up eight. the lesson to be learned here is that you can see curves steepening, but why is it steepening? it's steepening because equities have righted themselves. much of europe is closed. the important thing to walk away is short maturity rates are going up slower. there's your fed implication. moving to the gold post and the notion that the data is slipping a bit and, well for now they're data dependent. let's look at a chart that combines the s&ps and ten-year note yields. you can clearly see that when the equity market started to move up after being negative

the ten-year note yields turned around, as did the entire curve to some extent. >> the big question, are we about to see a big decline? if we do will stocks follow? if they follow and drop is it a buying opportunity? all of those questions will be asked and answered next on "power lunch."

>> i'm courtney reagan and here's your cnbc news update this hour. commandos freed a dutch hostage held by al qaeda-linked militants in mali since 2011. he was on vacation with his wife who managed to escape. he was freed in a predawn raid. he was safe and in good

condition. the company planning to offer 6.5 million shares between $17 and $19 a share. virtu sells high speed computers to sell stocks and bonds. it delayed its -- which criticized high speed trading firms. >> expected to sell the ring for $7 million, but it only fetched $5.4 million below its reserve. and prince harry was welcomed by happy crowds in australia today. he held up a sign that says red heads rule. >> that's an update for this hour. back to you. >> all right. thank you so much courtney reagan for that update. time for another market check,

though. can you see all major averages are solidly in the green and not only that and not only are they all near the highs of the session, but all three of those averages are solidly. >> i want to highlight that we are sitting near the highs. 8:00 a.m. this morning, and we're 2,086. this is a 40-point move in a day. >> we're in an earnings recession, and we have a growth earnings problem out there. just look at the numbers out there. q1 this is the s&p 50000, now down more than 2%. q2 is down, and q3 is heading in the negative direction. that's lousy numbers here. now, you think earnings growth is weak. i want to show you, the revenue growth remember we generally

should be some relationship between revenue growth and earnings growth. >> the bipg thing right now, it's all because of the energy. no, it's not. yes, it's the biggest contributor. put up the next screen. you'll see manager down 65% in earnings. that's historic decline there. look at the declines. utilities are turning negative. put up the next one. telecom is down. consumer staples and kayla, just now technology stocks just now are negative for the first quarter here. this is not just an energy problem. there's an earnings recession that's going on.

>> my hope is that the numbers will come in better, and we may or may not get a negative earnings quarter. we're soaring right here. we're up near the highs for the day. remember, we've got the bad news is good news crowd. numbers have been pushed out for any kind of rate hikes. we've also had decent numbers this morning with the ism services number. now you get both sides of the ewags. you have the bad news is good news crowd saying oh the rate hikes are being pushed out. then you get the good news is good news crowd saying wait a minute. this ism services number 08% of the economy is services. the numbers in february are going to be anomalies. we're going to get better economic numbers. this is you play it both ways. it's a little annoying, right? you can get both of the equation and argue. remember, the.

>> i know it's frustrating, but you can argue both sides. >> as we've learned this year we can wake up and the story would be completely different. >> we can. >> we will see them around and talk more markets and today's rally. let's bring in jim paulson, chief investment strategist with wells capital management. jim, we have goldman on friday after the jobs report saying take a rate hike off the table. we have dudley being extremely dovish this morning. people had a whole weekend to digest the employment report and i think they saw more values being cheap for a while again than they did any big risk. i think they thought that the

employment report is more one-off weakness due to weather and port strikes than it is a signal of sustained weakness, and they just looked at 20 handle cheaper futures, i think, after that from a value perspective. >> how do you get -- kayla and i were just talking about this. being a market respondent i get people talking about both sides. bad news and good news. they'll put off rate hikes. did you watch the ism service says, bob? it's good news. february is an anomaly. you just referenced that. how can you be right on both sides of the equation? >> i don't know if you can. it's probably a bit too highly valued and it has positive sentiment, and we face this inevitable rate hike and i think it just puts us in a vulnerable state and what that leaves you with is a very

volatile response from the marketplace. i would say this, though. i see a lot of the sand under investors feet changing here. commodity price are weak. oil will go down. it's going to be led by biotech and chips and transports. all of those things have changed, and so you are kind of left with trying to grab on to a new trend and another big event economically, which has changed, is the citigroup economic surprise index, which was falling persistently all we're long bottomed out on march 23rd and has made the biggest upward move now this year. i just think part of this volatility and almost nonsense volatility is a result of the trends that investors were banking on suddenly changing.

>> are we still in a cycle where you buy the dip, you do well? >> well i think we're going to challenge that this year kayla. that's my guess. i think we're going to -- so far we dipped down, and we always buy and then it comes back up. i think one of the dips is going to go on a little longer. we might get a 10% correction at some point. >> i'm hoping we're going to have a spring bounce on economic reports and looking out the windshield, the earnings environment may improve even if through the rearview mirror it was kind of nasty. >> all argues for choppy trading, wouldn't you agree? >> i agree with that. we got a lot of volatility this

year. power lunch.cnbc to see why paulson might think it's time to add exposure to what he call the u.s. dollar peaks. very interesting take there on our website. tyler. >> all right, kayla. drought-stricken california in desperate need of water. could relief be on the way? here's the weather channel's jen carfagno. >> when you look at the numbers, can you really see it too. in l.a. by now we should be getting close to 10 pirchlgz of rain. this year only 2.79 inches. we're getting to the end of the rainy season. not much in southern california.

it's mainly a -- it's good news regardless. here we'll take it any way we can get it and it's especially great news because we will be adding some snow pack up here in elevation in the sierra nevada. we will be picking up more than a foot of snow, and that is great news for the drought. for the weather channel i'm jen carfagnu. back to you. stroo for more on the drought let's get to jane wells who is down south on the ground in l.a. hi, jane. >> he says that has the force of law. how? it will be up to local water agencies to figure out how to make it happen. rationing, not formally in the

plan. the governor is being criticized for putting the burden of cutting back on urban residents when 80% of california's water goes to its number one industry. agriculture. >> farmers are getting zero allocation from the federal central water project, and that's a big deal. that hasn't happened before. this bill job dollar plant you are seeing will open next year. santa barbara, yes, even in santa barbara they're getting ready to vote on firing up an old diesel plant. >> we're getting to the point where we are using up our state water supply. our own areas. we're seriously looking at

desalination as a last resort into the next year. >> webbish says short-term winners are irrigation and plumbing efficiency companies like toro rexnard. longer term looks to water metering companies like mueller and pump systems companies like xlum. tyler. >> thanks very much jane. divorce via facebook. one ceo's mega payday and a furious start to the summer box office season. that's all coming up when we visit the power rundown in two minutes. [ radio chatter ] ♪ ♪ [ male announcer ] andrew. rita. sandy. ♪ ♪ meet chris jackie joe. minor damage or major disaster, when you need us most, we're there. state farm. we're a force of nature, too. ♪ ♪

>> let's get a check on the market. still hovering near session highs. dow up 160 points despite the fact that the entire weekend had futures in the red, and we were down 116 points. right at the open. a weaker dollar as well as dovish comments from dudley of the fed as well as ism nonmanufacturing that came in in line. that helped propel the averages higher. maybe bad news is good news

again. either way for today, tyler, it is doing well for the markets. >> all right. thanks very much. time for the power rundown. kayla, along with tooul julia in the hot seat today. used to be when you got a divorce, you had to serve the papers face-to-face. now a judge has ruled that one brooklyn woman can legally fire -- file for divorce via facebook. folks, why don't you -- i'm going to ask you first, kayla. why not you go first here? this was one where they can't find the guy basically. if it becomes an official channel of --

>> he has refused to make himself available, julia, to be served with divorce papers. why not use facebook? they're going to send the notice to him. they're going to second it to his lawyer. they're going to do it for three weeks in a row. then he is served right? >> absolutely. i think this is a testament to the power of facebook messenger and what a legitimate way it is to communicate with people. i mean, it speaks to the power of facebook paired to the u.s. postal service when someone doesn't have an address. peemt have already searched divorce papers via facebook in australia. it's not totally unprecedented, but it does speak to its growing power. >> if i could pay my alimony in bit coin that would make it easier. >> the question is whether you have to sign the papers or just like them. >> thumbs up if you like them right. you won't like them.

or maybe you will. they're both coming from stock awards. granted, after he signed a new six-year contract. does he deserve it? discovery stock down 25% last year versus double digit gain for the s&p 500. >> he has had a huge run at discovery since he started in 2007. back then discovery was valued at $5 billion. now it's $20 billion. what they are trying to do here is really align his interests with a long-term performance of the company. what you have is this huge stock that sort of makes it seem like a bigger payday than it actually was. the vast majority of that huge payday last year was in stock, and he is now going to be there for the next six years, and he is not allowed to sell any of that stock until his contract is up in 2020. it's really intended to align his interests with the performance. >> he is going to be a long-term

holder, kayla, of the stock which he already has been i'm sure. >> yeah he has, tyler, but i think julia's point is correct that when you alane the interests and you make someone who is already a big shareholder an even bigger shareholder, it's in no one's interest more than his to make this company stock perform in a certain way. although i would say you could take out his name and take out discovery's company name. you could insert any company there, and the question is always what benchmarks the board sets. in this case the board said, look, he exceeded 95% of the bank run of the milestones that we set for, and the question is whether those benchmarks should have been higher for the company company. a record $345 million. ninth biggest opening of altime.

>> what does it say about the movie business and why they go with these franchises because the down side is so much -- so much less right? >> yes. i mean, it's an established brand. this is the sefbt film in the series, and people want to know what they're getting when they make the effort and they spend the money to go out to a movie theater. i think it's worth pointing out that last year the box office the overall u.s. box office was down 5%, and thereof a lot of concern that maybe people just didn't want to go to movies anymore. the truth is they are willing to go out. they're willing to pay the money to sit in the theater if it's for a really big event film. that's exactly what it is. i mean look at this. people are jumping off of buildings and driving cars out of windows. i mean it's really clearly a big production cost.

>> you can bingee watch. thanks julia and kayla. kayla, down to you. >> gene narp has been fueling the biotech sector. it's front and center in our game-changer series. see what's next for this fast moving sector when "power lunch" returns.

>> turning the spotlight on innovations and technology shaping our future. today the red hot biotech sector. despite the recent selloff, it is up 12% in the first quarter. what is helping to fuel it? two words. gene therapy. >> genes are defective then certain organs or tissues won't function effecttively. it's the new buzz. >> certain blindness that we're

really optimistic will be treated by gene therapy over the next couple of years. we think that spark therapeutics is likely to have the first gene therapy product approved in the u.s. we think it's promising. >>. >> for more on how gene therapy is driving biotech, go to power lunch.cnbc.com. tyler. >> kale la we've been herring a lot about larger u.s. companies getting hit by the strong dollar. now some smaller firms are starting to feel the pain as well. kate rogers is on that story. >> it's leading to pricing pressure and what that means for manufacturers next in power lunch. onalized legal solution that's right for you. with easy step-by-step guidance, we're here to help you turn your dream into a reality. start your business today with legalzoom. hello. i am here to offer sophisticated investing strategies. my technology can help you choose the right portfolio. monitor it. and automatically rebalance it.

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legalzoom. legal help is here. >> this has been a great hour. we have another big hour just ahead for you on deck. more in the big turnaround in stocks that we are seeing in the market. plus the oil impact on jobs across america. why it's not just oil jobs you need to worry about. plus, a big look at tesla's stock. one analyst is very bullish. we'll hear a lot. is that really true even with baggage fees. we're going to try to do myth busting of our own. back to tyler. >> is he tan, rested back. the big guy, brian sullivan top of the hour. the dollar is up more than 15%

versus the euro over the past six months. nearly 10% versus the yen. nearly 7% versus the pound. you'll be tested on all those numbers shortly. that is beginning to impact yes, some smaller u.s. manufacturers. kate rogers has been looking into that for us. kate. >> that's right, tyler. small manufacturers. they're feeling the pinch as the strong dollar makes their products more expensive. >> the chapel hill north carolina. singapore, thailand, and greece with experts making up 30% of the business. >> i've heard it from my distributors, say, in japan that because of the strength of the dollar it is making it more difficult for them to be probable with our products as an export to them. i have seen -- i just received another order today from japan, for instance, and we can see that his order numbers are down a bit.

>> the strong dollar has lisa concerned about losing customers to cheaper competitors. she exports engine cooling products and incubation systems for fish hatcheries overseas. from her business csm consolidated near seattle. >> we have competitors out of china that have mimicked our products, so the more strong the dollar becomes, the more expensive it is for them to buy our products so if we can't offer them deeper discounts, then they're going to take more of their business to off shore competitors. we'll lose revenue. >> and she isn't far off with those fears. analysts and trade groups have already said u.s. manufacturers face stiffer competition overseas because of the dollar. small businesses they often feel more pain because they're less diversified than the big multi-nationals. while the companies we spoke to say they are committed to keeping business here in america, the question is just how much, tyler, that's going to cost them. >> but a fascinating story how it's affecting smaller manufacturers that are now doing made in usa. thank you very much. >> thank you. >> been a busy hour.

a little bit of green numbers there, kayla, as we look at the s&p. up 18 points. as bob pointed out, it's been a whooild wild ride for the s&p today. >> it has indeed. very interesting. still moving though. >> the dow is up triple digits. this is what we call our so-called triple-double or double-triple because we don't want to steal from basketball. where we rose and fell more than 100 points in the same session comes from new york fed president bill dudley about shallow future rate hikes and maybe the economy is still strong despite the weather. perhaps the reason for the turn higher. it is back above $52 a barrel for oil. that's ahead, and the dollar versus the euro. you just heard kate talk about the impact on small business.

what about big business? we are back to $1 .10 per euro. what if everybody calling for dollar-euro parody ends up being wrong? for now let's get more on this big market turnaround. bob live on the floor of the new york stock exchange where you're a couple of blocks away bob, from the new york fed. are the bill dudley comments the reason people are ascribing to the turnaround in stocks? >> not the only one. i think it was a very important factor today. that's a good point, brian. let me just show you the s&p futures here intraday and the important thing is this morning 8:00 a.m. we're at 2,044. look at this. 2,078 right now. you are talking about a huge move here. better than 30 point move in the numbers. that doesn't happen that often. we're off of the highs, but it doesn't happen that often.

the fed will push the rate hikes out here. look at the s&p 500 for the year. let's call it 2,000 to 2,110. we're exactly in the middle of that particular trading range. guys, back to you. >> bob, thank you very much. let's start the show off with a market flash from mary thompson. >> hey there. i'm looking at software company. they offer two groups private equity firms. this according to a report by reuters. reuters is reporting the company has negotiated a sale that could value it between $5 billion to $6 billion. a deal that would be this year's largest leverage buy-out. shares up 3 the .2%. melissa. >> mary, thank you. another big mover. apple shares moving higher by 1.5%. that should be no surprise because april is usually a huge month for the stock. how do we know this? let's bring in josh lipton live

at cnbc's brand new san francisco bureau with more on this. josh. >> april is a critical month for the company. apple stock on a tear here. up some 15% this year. more than 60% over the past 12 months. the stock now just off its all-team high of $133. can the good times continue? all eyes are on the watch. the launch officially with preorders starting this friday. piper's gene munster thinks apple will sell one million watches in its opening weekend, and eight million watches in total this year. if gene is right, that would generate about $4 billion in re new. apple's cash cow remains the iphone, and we'll get new sales numbers on that product when

apple reports earnings on the 27th. wall street expects earnings per share of $2.13 on revenue of some $55 billion. analysts think apple shifts 54 million i phones in the quarter. investors will also expect to hear more about the company's plans for capital return. analysts at rbc thinks analysts will launch a $200 billion capital return program which rbc says will represent all of the company's free cash flow over the next three years. it will focus on what apple has to say about q3 and beyond.

>> tee sput today's gains -- it has really dropped more than half since its highs of last year. as we have reported on this show for months from many major oil producing regions, this is causing jobs pain across the oil patch and beyond. morgan brennan picking through some of the jobs data and joining us now with more. morgan, this is confusing, right? we hear about mining but mining is oil. >> that's right. so labor pains, energy companies have been laying off tens of thousands of workers, and those losses were particularly steep in march. this is a big reason for friday's disappointing jobs report, and, according to the labor department, it's the mining category. this is the category that includes oil and gas. it shed 11,000 jobs. it was the third straight month of losses. it brings the total for the first quarter up to 30,000 jobs lost, and just to put that in perspective, mining added 41,000 jobs in 2014 meaning about three-quarters of last year's gains have already been erased

just in the first three months of this year. now, it in terms of the hardest hit states, this is data in terms of february. the latest. we have texas, oklahoma, louisiana, and north dakota. some of the hardest hit in terms of oil job losses. as you can see here we've got more layoffs that may be coming. this is a chart from goldman sachs economic researcher alec phillips. it shows the close correlation between u.s. oil rig counts and the oil and gas industry pay roles. job losses look set to accelerate at least in the short-term taking a look at this chart. now, the other area to keep an eye on manufacturing. this is going to be as more rigs shut down. oil and gas equipment makers have fewer orders. seasonally adjusted this category shed 1,000 positions last month with the biggest losses in machinery and fabricated steel products. now, brian, that's expected to continue as companies like u.s. steel and ge slash jobs. not only are we looking at mining, but we're going to be looking at manufacturing increasingly over the coming jobs reports. >> that's right. second and third derivative

plays. morgan brennan, thank you very much. let's us stay with the oil theme, and maybe some investment opportunities in the crude price slide, assuming oil does turn back around. joining us ken sill, managing director at global hunter securities. the companies you cover are second and third derivative plays. they're not the ones at the frontlines, but they're the ones that are. >> on the back half of the year and through 2016. not sure how fast it's going to recover. we don't think it's going back

to the $100 change that we've seen the last few years, but definitely the oil markets are up big today. can you see turnaround as they get their cost structures in line with the new price and drilling again. probably not until very late this year or early next year. >> okay. i don't want to get too deep into the weeds here or in the oil patch, if you will, ken, but we talked about north dakota, and there are some rules where if you start a well, you've got a limited time to complete the well. otherwise, have you to file some notice and basically ask for an extension of time to complete it. et cetera, et cetera, et cetera. when you look at the companies around the country in texas in the balgans, wherever it is that have put wells on hold do you anticipate that even if oil stays where it is they will go back to complete those wells in

part because in many cases from a regulatory perspective, they have to and the companies that you cover could benefit even with oil down because they've got to finish the well. >> we like being exposed to the completion part of the business. the first thing the guys are going to do is go back and complete those wells. people are in the completions business, pressure pumping, cement ing cementing zi love those names. north american exposure. >> cjes are the technicalers there.

sflool reporting the number of deliveries within days of the end of the quarter, that i would imagine is a good thing because it eliminates that vacuum of information that you have between the end of the quarter and when they actually report. at the same time you say that there are things to look at in the quarter. it doesn't necessarily mean it's going to be a slam dunk in terms of a beat at this point. >> on the direct leasing front, you know there is a dip -- there is a different revenue recognition model with that and so they're really only able to recognize the revenue on the lease payments as opposed to the cash payment that they might get from a third party banking institution and can recognize under nongap revenues. that's really the main difference there. >> is it your sense that they were more aggressive with direct leasing. that's how they got the beat for the first quarter. therefore that, could actually

be a headwind for the stock. >> that is plausible. number one, the most important metric has always been deliveries and remains so. the fact that they were brought out this off side and they're increasing transparency from last friday morning, that's generally a good thing. that option is actually less compelling from a pricing standpoint because obviously when they brought on u.s. bank which is the new third party leasing vendor the bank for the program

program. >> physical you say that, you know, the street was kind of looking for that 12,500 number in q2 you probably start to look for a bit of up side either to that or to the year. absolutely. >> stationery storage, april 30th. is that an upside for the stock, or has that already been priced in? >> probably largely priced in here. maybe a little bit of a sentiment positive from here. you know nobody has been terribly good, frankly, in terms of being able to quantify that opportunity. we're not expecting really that to be a meaningful driver to tesla's models here for the next few years. just given how big the car business is getting. it could certainly benefitation bit more on the sentiment side

here leading up to that event. >> that will leave it here. thank you for your time. appreciate it. >> brad erickson with pacific press. >> thank you very much. meantime, folks, here is your power lunch menu for the rest of the show. some potential myth busting on airfares ahead. also, forget theory. we have actionable advice. how to play tech in the second quarter, and duke and wisconsin gear up for the championship game tonight. we have a simple question for you. should steent athletes get paid above their scholarship. let us know. melissa lee, cnbc sully cnbc. power lunch will return right after this. hey, girl. is it crazy that your soccer trophy is talking to you right now? it kinda is. it's as crazy as you not rolling over your old 401k. cue the horns... just harness the confidence it took you to win me and call td ameritrade's rollover consultants. they'll help with the hassle by guiding you through the whole process step by step. and they'll even call your old provider. it's easy. even she could do it.

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>> check on the airlines stock. in the red across the board. a lot of this having to do with the pop higher. one-week highs. take a look at the airline stocks. delta down 1 3/4%. >> yeah. i want to say, melissa, that you and i have been doing the show together for a couple of months. if we ever get the opportunity to travel together, do one thing, melissa. >> what's that brian? >> go on another plane. if you reply flooi with me you're in big trouble. i want to send out a thank you to at people on my flight that was supposed to leave saturday that left sunday. we spent 24 hours together in a small airport with crying babies. everyone made it home. they know who they are. they were fantastic. >> 24 hours? >> we were stuck and theb we ended up getting a hotel and

coming -- third canceled flight for mechanic reasons i've had in two month's time. all the great people on the flight if they are watching i hope they had a great easter. go in some other direction, melissa. you may have read or if you fly you may feel that airfares are on the way up. even though airfare -- airlines have done little to make us like them, this means you, baggage fees and $9 snack boxes, higher fares may not be a reason to vent. seth managing partner of airline weekly. seth i know everyone wants to say airline costs are out of control, but i have looked through historical data and even with baggage fees and all the over stupid charges we're getting now, they do overall -- i know it's an unpopular thing to say but they seem to be lower than 10 or 15 years ago. is that fact or fiction in. >> it's mostly fact, brian. you know people ask me why haven't airfares fallen because of cheaper fuel and you have to say, well even the premise there that airfares haven't

fallen, not really historically true. now, look, if you want to start history in 2009 you know when demand was very low and a lot of people just couldn't afford to fly at all no matter how cheap it was yes. compared to then it has risen. really the first time in history we've had several years now of inflation adjusted airfare rises. compared to almost any other time in history, still a pretty good deal. even if you count that extra $20 or so on average that people pay in those hated fees. >> there seems to be a recent bias with a lot of things. i had plenty of time at the airport i was at. pretty much all weekend long to talk about the airlines, their problems. i'm not defending them. they have a lot of problems. people are flying now across country, round trip for $375 $400, maybe $500 with baggage fees. you go back and inflation adjust that data it was well higher than that 10 or 15 or 20 years ago. >> exactly.

for almost all of history. >> i'm a consumer too. i have airline tickets like everyone else. i long for the days that can i fly across the country for even cheaper than it is now. there's a point where it's the most minimal and get update odd all that. the problem was that almost every american airline went bankrupt in the process. you know if you are going to say it's your inalienable right to fly low cast airfares have you to knock on the door of your neighbor who is a pilot or flight attendant and tell them that you want to go back to the days when they were getting furlow and they were losing their retirement to subsidyize your cheap trip to disneyworld. you kind of have to balance all that.

are airlines make and the stocks are up and profitability is up. why aren't they reinvesting more in making the experience a little better? my flight was canceled, and this is literally true because somebody stole the exit sign off the exit door in the plane. little 6 x 2 piece of plastic. somebody took it off, maybe put it in their pocket as a souvenir, caused us to cancel the flight. the airline didn't have another one around. we couldn't leave until the he next day. we had screaming babies. people missed easter. why aren't the airlines reinvesting more of these profits in the making -- at least a semihuman experience. >> when you hear a story leak that, it's amazing it ever works, right, brian? >> as long as we land safely, that's the ultimately -- the only thing we care about. they could do more. >> certainly the industry is safer than it's ever been. statistically speaking it is

rather reliable to in historical terms. if you take a look an airline like delta, which was farther down the road they kind of turned their profits around sooner. they did make some of the reinvestments. no surprise they're at the top of the industry in reliability. you look at american having more recently gone through a merger. they're turning the corner. want quite at those delta levels. gnaw, you would hope that as time goes on, they get more towards. united is one that has struggled in recent -- better than it was. we're going to run through the day's upgrades and down grades. stocks you need to know about. the dow up every single dow stock, i believe, is higher. oh, there's two that are lower. 28 are higher. more power lunch after this. and a gentle wavelike motion...

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computer. the buffalo galloped on the sidewalk, strolled through a neighborhood, went through red lights. absolutely no regard to public safety. police finally caught up to the buffalo safely subdued him. nobody was hurt including the buffalo. here on cnbc though it's really the bulls, not the buffalo that are running today. the dow right now is up very nicely. triple digits. we told you 28 dow stocks are higher. the two that are down down by fractures of a point. the nasdaq and the russell 2,000 are also higher. buffalo not only delicious, but leaner than beef. two big commodities we are keeping an eye on right now, first is gold hitting multi-week highs. >> was it a head fake or is it

for real? we'll break down what's happening in the oil pits today. why we're seeing moves like this and what you can expect for the rest of the week. stay with us on "power lunch." it took tennis legend serena williams, fencing champion tim morehouse and the rockettes years to master their craft. but only moments to master paying bills at chase.com. depositing checks at the atm and transferring funds on the mobile app. technology designed for you. so you can easily master the way you bank.

>> i'm courtney reagan, and

here's your cnbc news update at this hour. the university of virginia fraternity chapter at the center of rolling stones making sfwleen's retracted article rape on campus said it planned to sue the magazine for what it called reckless reporting that hurt its reputation. phi kappa psi said it would take advantage of all legal action. air strikes by the saudi led coalition heavy hit weapons depots. the air strikes are in their 12th day targeting the houthi rebels that forced the country's president to lead. the prime minister and russian counter part agreed to further bilateral cooperation in a wide range of economic areas, especially in oil and gas exploration. the two signed eight cooperation documents before holding a press briefing in hanoi. >> michelle obama showed off her dance moves. the first lady took the main stage on the south lawn for the gimme five dance, celebrating the fifth anniversary of her

kids eat healthy and exercise initiative. that's cnbc news update for this hour. now to mary thompson with a market flash. >> hey there, courtney. >> america's largest newspaper publisher nearing its lows of the day. stock downgraded to market perform from wrout perfect, citing concerns of fundamental factor that could impact performance. it's performance today down almost 5%. bye. >> back down to oil because oil is up big today. right now it is higher by a couple of percent. we're back above $52 per barrel to 5206. in fact jackie a nearly 6% gain for the price of oil. big day for the bulls. >> we just kept moving forward. a couple of factors to consider in terms of what's bakting prices today, whether this can last or not. the first would be we saw the saudis raise prices to asia. they've been saying for some time that there is an increase

in demand there. they are putting their money sflo courtney mentioned it before continued air strikes in yemen bring that geopolitical conflict on the table as well. all of this in the face of a dollar that's a little bit higher today. traders are telling me this could be a head fake. it could be part of the volatility. we've been seeing this in this trade. watch out. back to you. >> very cool. we're watching the price of crude oil. jackie d thank you very much. by the way, for all those saying that it wasn't a buffalo, it's a bison, the bison apparently is known as the american buffalo, so it is technically correct. melissa lee, time now for street talk. now we do. >> stock one broad come.

a $52 target on the price. this comes melissa, after a tear-down of the new samsung galaxy phone by a company called chip works. this t shows the potential for gains and a loss for intel, and, by the way, broad comreplace qualcomm on fdr's top pick list. >> qualcomm is catch aing downgrade from pbr because samsung is using an internally developed wireless modem instead of snap dragon. we have the analysts tonight with the qualcomm downgrade. in the meantime, we are also taking a look at microsoft. wells fargo upgrade it to the valuation range of $46 to $50. says the consensus estimates clearly needs to come down. the analyst does like to focus on mobility and cloud. also providing a cushion at the $40 level. microsoft, we should note, bri, is down 20% from its 52-week high. >> i was just going to mention that. we had a little brief subliminal moment with todd gordon. all of a sudden i got -- >> you can get the chart read on

microsoft. >> it's like i want to todd gordon and coke wra cola. you just didn't see it. microsoft to your point, down $8 from its highs of last november melissa. ouch. >> stock three. priceline. august research starting coverage. they have got a bullish $1,480 target. the current price. they issue a five-year earnings growth forecast of 20%. they say that the shares are very favorably valued at 16.5 times next year's earnings. >> it's february levels. there had been a lot of concerns about europe when had it comes to priceline. steifel upgraded the stock righting a tail wind that could be a positive. analysts are coming around to this one perhaps. stock number four here -- >> i was going to say, are they going to lose it in the currency translation, or are they going to gain it because the melissa lees of the world are ready to jump over to europe because the lower euro. >> stiefel it is it's because

outbound travel and european travel are going to off set that currency head wind. there you go. >> delphi automotive this is a nice pop in today's session. credit suisse. they raise the price target of 92 from 89. the key driver of this story, more software content. infotainment. the outlook very positive here. i should note that is more bullish than most. the average target is -- rbc, by the way, i think the most bullish out there with a target of $95. all right. your final stock in street talk as always is the under the radar name. the little smaller company you don't hear about today. it's enanta pharmaceutical. it is based in watertown, mass. started with a buy at deutsche bank and a $42 target. that's about 30% up side. six analysts cover the name. their average rating overweight. >> take a look at that run into basically the beginning of this

year. this is a hepc stock. all the hepc hype surrounding gilead. credit suisse -- and -- >> all right. that's it for "street talk" on this monday. let's move on to our new segment "trading nation." great day for gold by the way. the previous metal -- it's not a previous metal. it's a precious metal. up more than 1 prz. i have been off for a week. that means gold is beating the s&p 500 this year. let's bring in our trading nation crew. >> i'm wearing my bullish cuff links. >> solid gold? >> preparation for this segment. >> are they solid gold? >> no they happen to be silver

and silver actually outperformed gold today. we're up more than 1.5%. gold is up 1.5% which is about a seven-week high. by the way want to say hi to bob pasani and i want to say hi to swraky deangeles who i see on the floor of the exchange. i have been a floor trader for 35 years. in the gold i see jackie occasionally. make a long story short, we're up because the poor jobs report woke up the funds. for the last quarter we were losing open interest in gold. we were down from say, february first week of 425,000 in round numbers to today's, this morning, 385,000. open interest in gold contracts because the funds did not like the performance, and were moving to equities but now with so many bears in the woods, the fact that the fed seems to be kicking the can down the road to

maybe september instead of june it's helping gold tremendously along with crude, which is up about $3 today. >> but if the dollar continues to go higher again the euro i know it's been weaker in the last week or two, but if it continues its trend of going higher against the euro and maybe goes to parody george isn't that going to send gold lower in the long-term? >> and could, but i don't think this time it will. it will be like a wake-up call for europeans who don't want to be the base or declining currency, and south america where you see declining the base currencies, like argentina, venezuela. you're going to see more people coming back to gold but we have less gold. the reason for that is going to be behaviors and current interest rates forthcoming, and the fact that today the saudis actually raised the price of crude also was a big help all around. >> george thank you.

okay. we have an sg a subliminal gordon a moment ago. how did the charts look on gold todd? >> sorry to jump in there, brian. couldn't wait to talk to you. i'm excited. well, to george's point, it's very interesting. you look at what the fed does -- did. here we are monday, and we've forgotten about our jobs number, but we still have the dollar. weak. you have the dollar breaking down which is supporting a likelihood that the fed is going to continue to remain accommodative. what's happening is while silver is outperforming gold silver generally does that and the weaker dollar environment, but in an uptrending stock market because of its dual purpose, so while the dollar continues to stay weak stocks remain strong. that's a fed that's still behind this market. i think that's going to be continuing to push. both silver and gold to the top side. watch day euro. we're breaking higher. i think this is a story of dollar weakness.

actually, i just went long gold today. we have a little chart that we brought along here. i'm showing you the relationship of gold and silver. there is a hart that shows a 12:20 break out around current levels. i have cob a gld. we bought the 118 calls in may. we traded a spread out of it. this is a slightly out of the money trade. we if up to 1,256, and that calculates from the distance that we moved up in march. compared to the current pullback up into april. that's just a minimum up side target. possibly we move higher and, again, if that dollar moves lower and if sell ver outperforms, it actually helps the trade. >> all right, todd. bullish enough to take a position. george, we appreciate it. next time, we'll talk -- it's doing twice as good as gold. thank you very much. >> think platinum. >> the price of gold. >> you'll wear different cuff links. i want a cat littic converter on your arm. thank you very much. >> thank you.

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>> by change could be coming for insider trading laws after an appeals court decided not to rehear a challenge from u.s. attorney of the southern district of new york. wall street's cop. two henl fund traders who had their convictions overturned in december will stay free men. in a longer term it will make the starntd to prosecute any insider trading cases that much harder. now prosecutors will have to prove that tippers knew they were getting some kind of a personal benefit in return for leaking the information. steven fishbein assist well as counsel to former diamondback

capitals todd newman one of the men whose conviction was indeed overturned. steven, first to you. without getting too complex, what does this ruling -- what do future rulings mean now for insider trading. >> this is more of a clarification of law that's been on the books for a while, although an important new clarification by the court and what i would say is the affect will be most pronounced on future cases. it's not going to affect situations in which insiders sell a company secret for money or other valuable things and the person who received the information knew about it. what will be more difficult is cases like the one i was involved in where the person who receives the information is several steps down the line of information, and they really don't know what the circumstances are under which the information was disclosed and don't have any reason to suspect that there was anything improper about it and in that

case the courts are saying that it's not unlawful to trade and, of course, it is going to be much more difficult now for the u.s. attorney to bring cases where there hasn't been any violation of law of that nature. >> i don't knowing this is an invitation for people to suddenly engage in insider trading. this case is important. it narrows the ability for the government torg after certain traedz groups that have received tips down the line. it requires that they actually have a real personal benefit going between the tipper and the tipee. in terms of people doing their jobs day in and day out, this isn't going to change the way a serious financial professional does their work. they're not going to suddenly start thinking that what was prohibited in the past is suddenly okay to start engaging in now. >> steven fishbine let's try to keep it for the lehman out there

watch and listening that are not trained attorneys, but this whole benefit thing is very sort of amorphus. let's talk about what it may turn into. justice scalia, of the supreme court wrote back in december in whitman versus the u.s. basically that executive agencies like the s.e.c. can't be the arbitors of what is illegal. they can't state this is what's a crime and this is what's not. that is for congress and for elected officials. are we going to get to a point where congress is going to have to do something to put this in statutory terms so that americans know what the violation of law might be? >> well the court has spoken and what the court has said is that, you know apart from anything else criminal laws immediate to be clear. so what the court is saying is that we're not going to allow aggressive or creative prosecution theories and as you say, a lot of the s.e.c. or the department of justice to decide after the fact what kinds of

conduct that they want to prosecute. the courts have made that statement. now if the department of justice or congress feels like the line should be drawn in a different place, it is in their court now to decide whether a legislative response is appropriate. >> then steven feldman, to filize with you. i don't think a lot of people realize that actually there is no law against insider trading. rule 10b from 1930s is basically like you can't do this you can't do that but it doesn't lay it out clearly. do you agree with steven that we're probably going to have to get some legislative finality to this or congress will have to write a law? >> 10b has been around forever, and it prohibits fraud and the trading of securities. they've made insider trading a mraifr flavor of that right. they've been doing this a very long time. people have called for legislative fixes for a long time.

we could be in the same place, and the government can still push people on the criminal side or on the civil side with the s.e.c., so we could see a fix, but i wouldn't bet on it. guys well, appreciate it. it's a topic that's not going away. thank you. >> with millions watching and billions being bet on tonight's by game being duke and wisconsin. more are asking should stupt athletes be paid? what do you think? we would like to hear from you. we'll discuss. plus, the biggest names in technology throwing their support behind a different social issue. what does it mean for business and maybe even for politics? stay with us. one to combine a sleep aid... plus the 12 hour pain relieving strength of aleve. be a morning person again, with aleve pm.

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take a look at the markets and how we stand right now. 2:51 eastern time. we're at session highs for the dow and s&p 500. we have seen a nice turnaround in the financials in the green across the board and that's helping the s&p stay at session high approximates. >> the top brass at microsoft, google yahoo!, facebook and dozens of other silicon valley leaders stepping up their

support for lesbian, gay, transgender people by calling on lawmakers to pass new nondiscrimination protections nationwide. let's get more from liz gains and jimmy. ellen pao case is over. the topic, my case may be over, the topic is not going away. how do you see this ultimately playing out? do you believe, liz, that change will come or unfortunately, is it just talk? >> well there's two different issues here right? so there's more than 100 silicon valley leaders speaking out about discrimination against lesbian and gay people and meanwhile at home they have gender discrimination trial that people have been watching for the last month and just ended about how we treat women in silicon valley and i do see a contrast there between laws around the country that are

laudable but an easy thing to stand up against and more subtle issues at home. >> yimjimmy, it sounds good it looks good it's the right thing to do but is anything really going to change? >> well i think what's interesting is how, you know, silicon valley's presence politically is just growing. certainly there's a physical presence here in washington, d.c., with their lobbyists as they're expanding constantly and they've sort of moved from traditional, business issues corporate tax reform immigration, into social issues. why is that? well, in particular gay rights you have silicon valley being in the san francisco area but also i think you have a lot of ceos there who envision silicon valley, their companies, as sort of a different kind of corporate america, not their father's corporate america, one that will be more involved in these issues even if they're not traditionally business issues. >> liz here is the thing, what

you hear from a lot of these folks sort of privately or sort of anonymously is we'd hire more people but they're not applying. you know it seems like that's bunk and i'll tell you why. there's been numerous study that is show that the percentage of women in technology not the percentage of women workers, the percentage of women in technology and things like venture capital for cap are double or triple as high in new york and washington, d.c. it does appear to be more and more like a west coast or silicon valley issue. >> i don't know that that's entirely true. i think this is a long-standing issue of a lack of women at all levels in technology. i think it's pretty crazy though that wall street has a better record on women in tech than venture capital does on women in tech. the reason it matters that 100 companies are standing up against lgbt discrimination is because they make products that everyone uses and that absolutely includes women and so

the people who make those products need to be a bit more representative of the people who are using what will they're putting into the world. and we are looking at a really numerically imbalanced world and that's where things like subtle gender discrimination come through, and those are the kind of issue that is don't meet a legal standard at least so far. so ellen pao was in trial for the last five weeks fighting against her employer kleiner perkins, performer employer saying she was fired and mistreated because of her gender, and a jury found that wasn't true that legally speaking that wasn't true and so what i think is the undercurrent that's coming up from that and may go somewhere is more of a deeper discussion of the unconscious bias that happens in a workplace that isn't numerically balanced. >> we have to go but jimmy p. your town, waulgd, hasshington, d.c., has the highest percentage of women technology workers.

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huge game tonight, duke versus wisconsin. let's bring in steve liesman here. steve liesman, should we pay student athletes? >> we asked viewers if they would still watch the games, brian, if the players were paid, and here is what we came up with. 61% said no difference to me. but 32% said yes, i am less

likely to watch if players are paid. it's that whole romance of watching what we at least fool ourselves into believing are amateur players. who are the people who will be least likely to watch, the people who are the most -- the most loyal fans. all incomes over $100,000, men over 50 and postgraduate degrees. >> they want to see sort of the fake amateur players play. >> right exactly. >> in some cases. >> in some cases. steve liesman, thank you. melissa, you have your own "fast money" bracket challenge. how is facebook looking? >> you know what's crazy? we have a double dose. you can check out the previews for each of the match-ups on cnbc.com/pro. tonight we have apple versus intel and, brian, your facebook here is going to battle paychex, and paychex has been the cinderella story. i would argue it's been the underdog of the whole match-up. tonight we will see who will go on to battle for the number

one -- >> underdog. is that what you drew -- that picture looks like me. is that a subtle dog at me. >> underdog. paychex versus facebook come on. >> what is that in "when harry met sally"? baby fish mouth. thank you for watching. "closing bell" starts right now. >> welcome to "the closing bell," everybody. i'm kelly evans at the new york stock exchange to kick off a week, first full week of april. >> i'm bill griffeth. thank heaven you're here now because we have been going back and forth for a long time about what in the heck is going on today with all the various markets. just trying to make sense of it all because bad news to some degree has been good news on this first trading day of the week. stocks rallying after a big sell-off on the open this morning. perhaps on hopes that friday's disappointing jobs report that caused the sell-off will now postpone the fed's first interest r