. hello and welcome to "closing bell." i'm kelly evans. >> and i'll bill griffith, low volatility, trying to extend the win streak to a third straight day. the dow hasn't been in very wide range, down about 79 early in the session, up about what did i say 23 points at its peak, steady comeback. we'll see what we do in the final hour of trade. the final hour before tomorrow's jobs report. >> by the way, the final hour before tonight's debate and everyone around here in the past hour while the market has moved

back into positive territory captivated by donald trump. >> yes, they were. >> just a correlation. >> yes, they were. >> the energy sector is leading the comeback outperforming the broader market after oil prices rally from losses and settled nearly $35 a barrel and there's the energy sector up 1.3% on the day. >> technology and health care, the two minus signs in that tally today. not all good news in the energy sector. natural gas prices plunging to the lowest levels in 17 years, despite a larger than expected decline in supplies. coming up, we'll look at the fallout that could have for the pipeline operators. >> plus, republican front-runner donald trump fighting back against mitt romney. we'll have the latest in the war on words and which stocks could feel the pain and gain from a trump president. >> a remarkable day in the world of politics. let's start with the fallout from the continuing slide in the energy patch. morgan brennan looks at the

bankruptcy pressures on pipeline operators. >> that's right. dozens of oil and gas producers filed for bankruptcy last year and ihs forecast as many as 150 more companies could file if prices continue to stay this low. that's bad news for the pipeline companies that have contracts. here's how this works, you have pipeline or mid stream companies that build the infrastructure and lock in long-term contracts. in theory they should be less exposed to commodity price swings and historically when they went bankrupt the contracts were transferred to whomever bought the assets. we have a delaware bankruptcy court hearing arguments regarding quicksilver's energy agreements with crestwood. the deal to sell the assets depends on voiding those pipeline contracts. and if the courts rule in the favor, that could set a precedent for others to be av d

avoid avoided. this is especially troublesome if we see more bankruptcies and throw the mid stream business models into question. one reason why you saw the plunge last month when rumors of potential bankruptcy service around chesapeake energy as you can see in this chart. >> we'll have more in a little bit in the fallout across the energy patch. more signs the u.s. economy is improving ahead of tomorrow's closely watched, much anticipated jobs report, take it away. >> this jobs report shaping up to be a puzzler and more important for markets, the data have improved but there's dissidence when particular indicators with the jobs report, rapidly become being more important than usual as many are looking to friday's number to determine whether or not the recent improved sentiment in the marketplace will be sustained. here are the numbers we're looking for. 200,000 on nonforeign payrolls

better than the 151 we had last month. average hourly waged not expected to show huge gains we had in january, up just 0.2%, the unemployment rates at 4.9%. here are the good indicators going in. adp, construction spending and claims all point to somewhat better or at least decent jobs growth of around the 200,000. the bad stuff though, the ism manufacturing and services employment components, both of those have been weaker. mostly however, they are relatively bullish. at morgan stanley expect 410,000 jobs but look for slower job growth in a range of industries including manufacturing and retail mining and finance. we're a little skeptical about the signal of a slowdown in hiring given the broad based strength shown in the adp report. economists and fed officials think the trend job growth

should be slower than 250,000 at the current growth rates, trend job gain should be as low as 125,000 and some say even lower. >> i also know so many people will be focused on earnings and wages here. anecdotally the number of stories that have raised their minimum wage has been fascinating and i just read that i think the average earnings for retail workers is up 3.6% on the year as you factor all of that in. that's where kind of push comes to shove in terms of the real strength here. >> i think that's right. i have not seen anybody come forward and say, those strong job gains in january were the result of the minimum wage increase. that's not been -- at least it's not been shown. it stands to reason that some of it should be part of it, just waiting for the data to back that up. but look, it's not necessarily a negative if we get job gains. that means more consumer spending, there are more jobs out there and in addition you

have lower oil prices so the consumer should be in good shape. what we're looking for are things like finance and manufacturing and what's happening in the oil patch and how much that subtracts from job growth. >> i'm going to go to the bottom line, fed meets on 15th and 16th in two weeks. tomorrow's jobs reports the last one before the meeting. couple that with the rising inflation numbers, is it enough to think -- have them at least think about raising rates in two weeks? >> i don't think so. i think they'll talk about it and discuss it. they may even warn that it's coming, but i think where the action has been bill when it comes to the fed, it's in june and later this year. i think march is off the table. i don't think the fed wants to lean heavily against market expectations on a single month. one thing we'll be looking for on the 15th is does the fed get the market to be less off sides relative to its own

expectations. i don't think the fed is expecting for but there are expecting those for two and certainly one this year. >> great stuff. see you later. hope you saw it this morning. ceo jamie dimon joined "squawk box" and had thoughts to share on how he sees the state of the economy. >> what we see is the american economy, the actual economy, the 145 million people working, more people working wages going up. they are spending money and spending gas. we see the actual data. their balance sheet is in better shape since it's been recorded and buying cars at all-time records and home sales are going up, household formation going up. that's pretty good. >> let's see what our guests in today's closing bell exchange think about that. jeff reeves is with us and stephen gilfoil from deep value

and rick santelli. jeff reeves, you would agree with jamie dimon, you feel it is for real right now, right? >> there's a big difference between what the market will do and broader economic numbers are saying. it's hard to say we haven't seen substantive job growth and alet of progress in the economy over the last six years. housing numbers continue to stay strong. i would also say while it certainly is personal for people who live in north dakota and texas, some of the pain felt is not as part of the american job force as some people think it is. we are much more focused on services and retail and stuff like that as a nation. that's not to say certain regions aren't feeling it more than others but i think we're doing pretty okay. i agree with the sentiment. >> it's interesting though, jp morgan's equity strategist just recommended an underweight of stocks for a couple of reasons. they are concerned about the macro conditions and so forth. a lot does depend on how the

jobs number in morning comes in, right? >> sure. when you look what's going on here and ism with employment numbers and then not being backed up about the i jobless claims number, it leads me to think maybe the service sector was weaker than it should have been. we'll find out if we hit 200,000 or 120. but we'll be between 190 and 210. >> what do you think the market does here? >> given that the macro is -- you know i'm a doomsayer -- >> really? >> you should be a bond trader. >> but i'm also a numbers nerd. the statistics if they don't lie are somewhat better and revisions in toe are better. so if they can revise what they look at, i can revise my anticipation over recession later this year and i think i'm doing that at this point. i think we are probably headed to a rate hike from the federal

reserve, probably before june especially if we get another hot core cpi or cpe. >> that's why we've seen a rise in treasury yields recently, especially after some of the data has been stronger than expected? >> i'm not buying it. i think -- >> i thought i would try. the equity markets pull themselves by the boot straps back on. i think it's runs out of gas in front of the central bank meetings. we can learn a lot by today. when i looked at this morning's nonmanufacturing ism for the month of february, we already think manufacturing may be in a recession. what's left is the bigger part of the economy, the service sector. so it's above 50. that's all i read all day. but it was the lowest amount above 50 in 24 months, two years. it doesn't matter. it doesn't matter what china's

gdp was, it's the rate of change. it's all about the rate of change. these things are looking us in the eye. we have negative productivity. why did i read? less negative than last month. i understand jobs, jobs are a good thing. if they don't translate into growth and our economy will have a another year within striking distance below of 2%, what did that translate into. jamie dimon, i like jamie damen. he speaks out against regulations and they fine him another 13 billion and he talks about things are great. i'll tell you how things are great. they are buying a record amount of cars because they are renting to afford them. >> we know the leasing numbers have been up, right. listen, you read what warren buffett is writing -- >> renting houses, renting houses. >> you know, but the data -- the car can be the new house, it's

okay. >> if you bet against -- >> put a big screen tv in the back seat and call it home. >> you can get that everything is going to rally around and 2% growth is going to be enough to raise living standards and support the market longer term or throw it away and forget it and it's over and done. >> can i get in here? >> go for it. >> how about help? how great are things out there? >> did you see the production number this morning in the ism and sustained new orders? >> i saw the employment number too. >> we have decent numbers there. if that employment -- >> no, we don't. >> i'm as much a doomsayer as you, and i'm austrian. >> i'm calling out the numbers. those two top levels on the ism are better than i thought they would be. >> your entire economy on a subtext of a number on the service side that's at a

24-month low. >> we'll give you will the last word there, jeff. jump in on this meeting we have broken into. >> everybody, including mr. santelli need to adjust expectations on what's realistic. anybody who says 4% gdp growth is fooling themselves. >> saying it since last year. >> some people say that because they are politicians but anyone with a brain in their head will understand -- >> some fed officials had pretty big dots. they were like helium balloons. >> it's a range though. >> they are in charge. >> i'm just here to make some money. >> i'm trying to keep honest expectations up. >> i wonder why trump is winning? come on. i don't think anybody wonders why he's winning, rick. >> good one on the helium balloon. >> do better in the 537 people that we keep putting back. >> thank you. >> entertaining exchange, thanks, guys, appreciate it very

much. i know, rick, i know what you're saying. >> it's contentious. >> it is. >> that makes the market. the dow has been bouncing around on the positive side but holding on to a gain of only about 6 points and s&p 500 is up two and nasdaq is down five. it must be a year dif isible by four. bob iger facing some heat, we'll have the latest developments from there when we come back. friends no more, mitt romney calling donald trump a phony and fraud and trump fired back. we'll discuss the trouble to derail trump's path to the white house after this.

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welcome back, another chapter in the saga of sun edison, setting up uncertainty about the balance sheet. late yesterday they suspended quarterly dividend on preferred stock and earlier this week delayed filing the annual report amid a probe into finances. >> down 14.5% as a result. other movers we're watching,

tumi holdings with a deal to be bought by sam sonite. the takeover could be worth close to $2 billion. joy global rising as well with a wider than expected quarterly loss but investors are focusing on joy global maintaining the full year earnings guidance. up 17%. >> if you want to gauge the come back joy or caterpillar, way off the 52-week lows and caterpillar up three 3%. >> disney is holding the meeting, and julia is covering this meeting with disney shares, up 1.5%. >> that's right. that disney shareholder meeting, company announces building two new disney cruise ships for the year 2021 and 2023 and more details of its star wars lands in the works.

visitors will feel they are flying the millennium falcon. much was dominated about the health of espn and tv bundle. each weighing on tv's stock. they work on some digital options. >> even though cable packages are still the most popular way to watch television our media business is continued to innovate and embracing digital technologies and platforms like netflix and hulu and creating our own, life service that recently launched in the uk, as for shareholder votes they went very much as expected. the board of expencompetence we approved and bill, very much all in disney's favor, back over to you. >> all right, julia. thanks so much. so what do you do with disney stock right now? joining us is disney analyst

martin crockett from fbr capital markets welcome back. >> thank you. >> am i wrong? the stock came off an all-time high not too long ago, $120 and it's $100 and people are wringing their hands over things when the theme parks are busting at the seams and movies are going gangbusters are everybody is worried about espn. are they overthinking this? >> i don't think people are overthinking it. i think it's really a mixed story. the espn growth sloeled on the core affiliate of 3% on the last quarter. but the movies are killing it. you know, obviously we had "star wars" and this weekend zootopia and another "star wars" installment and the theme parks have shanghai opening up in june and new cruiseships coming and star wars attractions in their parks. tons of licensed merchandise

they are selling. half of disney is going like gangbusters and other half is mixed. >> the movies are a notoriously volatile business. i don't blame investors for not embracing that part of the performance. theme parks, how does that deliver in economically in terms of profit margin for disney relative to espn and cable? >> look, i think close so half of dizny's earnings come from cable and media networks powered by the cable. theme parks are about a fifth. but the theme parks are a good growth part of the business. it's something where you don't have the secular concerns you see in tv. you can engineer growth with good investments and they have a great track record of doing that and you've got nice margin expansion. while it's less as a percentage of the mix, it's going to be more of a percentage of the growth going forward. the theme park companies we can look as comparable are multiples, investors value the

durability of the business and willing to pay a higher price for it. >> what's your investigation how worried investors should be about espn and court cutting that's going on in the industry there? where does that go? >> i think this is manageable. i think that their affiliate growth is slowed on the core cable but i think they are making up for that with growth in retransmission fees on the broadcast. in sports, a great place for tv advertising right now. these new online services will be a nice compliment over time. i think they've got brands that others lack and they can navigate this in a way that others can't. i think that this will be a good company for the long term. it was our favorite stock the last couple of years in the tv group, not now but we think on a relative basis it's a good long term hold. >> did they have exciting announcements? haven't they used this in the past to announce the "star wars" trailer or movie tease or

things? >> this annual meeting was not investable and said things that are more but that's fine. i think they'll have real investable news in. >> martin crockett, joining us today, 43 minutes left or thereabouts, this does feel like a market waiting for tomorrow's jobs report, doesn't it? we've it two days of side ways action here. >> that said the vix is lower and notably the transports, we keep pointing this out because it has been an interesting leading gauge for the market transports having a nice session again today, 72 points. >> the war of words is heating up between the republican establishment and front-runner donald trump. the push is on to slow the billionaire. we'll discuss whether trump is in fact unstoppable. the latest findings in the investigation of that crash that killed energy executive aubry

mcclen den yesterday.

the investment and energy industries are still reeling from the shocking deblg of form former chesapeake ceo. outside the headquarters where the investigation continues. scott? >> outside of chesapeake energy arena which is part of the legacy of mcclendon.

this is the front page of the local paper that talks about that legacy, including the arena and so much else. really someone who transformed this city but meantime as the community digests that, investigators are hard at work trying to figure out why this crash happened and why mcclendon lost his life in the fiery one car crash. we know based on 9/11 calls that there was one eye witness to the crash and police uncovered a black box from the vehicle that should give some data on the speed and tra jektcy and that doesn't get us inside mcclendon's head. there was certainly reasons for him to be stressed, not just the federal grand jury indictment. he had a $450 million loan from goldman sachs syndicated out and $100 million of his own money into american energy partners and we also know that despite

all of this looming, he was still in the process of doing business as late as -- saying on the halftime report that mcclendon and he were in contact about possibly doing a deal. he asked if we would be interested in investing in a lease bank in hainesville and scoop in oklahoma, 25 to $50 million size, we don't do direct investing but clearly he was working on another deal. >> what he was working on doing was raising capital. it's not clear why he was raising capital. but he did not believe it was any sort of desperation play that he was sim my doing what he did, making contrarian bets that paid off over time but certainly everything came crashing down

this week. >> the conversation for the last -- the conversation for the last 24 hours and kelly and i were having this conversation over the commercial break. how will you determine whether he did this on purpose? how do you begin to find evidence one way or the other on this? it can't be done. >> well thls professors try to figure it out and we don't know what they found thus far and what they are going to find. clearly he was under stress. that goes without saying, whether that caused the accident or some sort of a medical issue or something like that, we don't know and you're right, we may never know but that's what the professionals are for. >> scott, thanks in oklahoma city. >> time for a cnbc news update. let's get over to sue herrera. >> new jersey governor chris christie holding a news

conference in trenton, commenting on mitt romney's scathing attack on donald trump, who christie endorsed. >> he has every right to express his opinion or view and only he can determine what he thinks he said was appropriate and timing. that's for him to decide. it will not change the xroerd respective for governor romney. >> a group of migrants and refugees arriving on a greek island rescued at sea, thousands arriving each week. the greek government requested $525 million from the eu to help deal with the crisis. centers for disease control say one patient out of 25 has at least one health care associated infection that they didn't have prior to their hospital visit. many of those infections are caused by super bugs and hard to treat and they are resistant to many antibiotics.

two-time defending america's cup champions oracle team usa had a tough day of training, during a practice session, the 45-foot catamaran capsized. luckily, no one was injured but scary moments there. you're up to date. that's the news update. see you in an hour. >> just a quick word on greece. you read the accounts of what's happening and eu officials have all but said some of them to various reporters that there could be a humanitarian crisis in greece. they no longer have the appetite for migrants to continue to move north and they feel it would be an appropriate measure to take. what's happening at the greek border already is just a tinderbox, this is going to be the issue to watch into the summer unfortunately. >> i agree. >> 30 minutes to go in the session. dow digesting and so much

happening. up 20 points and s&p is up 4. we mentioned the transports, up 81 points and nasdaq only down by about 4. a leading trader will tell us what's going on into the close. >> the story of the day the war of words between the republican establishment and donald trump, reaching new heights today. we'll have the latest developments and talk about whether trump can be beaten after this. [vet] two arly psicals down.

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keeping an eye on rallies the s&p is up a quarter of 1%, transports 1.2% and caterpillar outperformer on the dow, top left of your screen. disney which we mentioned earlier little less than 2% and american express and ibm higher. tougher one for mcdonald's down 1.5%, nike and microsoft visa towards the bottom of the dow 30. >> we're in the last hour of trading for this thursday and welcome back to the floor of the new york stock exchange ben

willis of brinston securityies good to be back. >> let's focus on the here and now, two quiet days ahead of the jobs report tomorrow, is that what's going on? >> yes the short answer but inside the market right now what traders are watching a great deal of shorts being squeezed if. you look at the momentum stocks and stocks trading to new eyes they are all from the short players covering those positions that go into the high yield etm game as well. seeing those stocks trade higher, nice exchange with santelli earlier. very much ahead of what is now being anticipated strong number. >> what number is that? you know, you can usually guess if it's above a certain number, you're going to get a certain response and below it another response. what's that number. what's the pivot? >> i would say 200 is the pivot on the number right now. but that's obviously been pushed up in anticipation of what we've been looking at even in light of the ism numbers in question

today. >> adp numbers. >> adp numbers again, there's not a month to month correlation in the adp but the adp is a pretty good indicator of trend and that's one of the reasons you're seeing this market looking this way and starting to question the market -- the beauty of market is the russell continued on plus side while the other major global indexes and that's the market, you have the u.s. market versus global market and that's where the success is being made. >> nice to be back. >> ben willis of princeton securities. >> good stuff, it was must see tv this afternoon. mitt romney and donald trump engage in a war of words hours ago as a republican establishment tries to derail trump's popularity. john harwood has the blow by blow. >> today was the day that the republican establishment in the form of mitt romney took the anti-trump effort to deaf-con 5, this mitt romney going as hard after donald trump is as possible to go after someone in your own party and he aside from

the allegations about trump's character and foreign policy judgment, he said he wasn't a good businessman and would be bad for the economy. >> his proposed 35% tariff like penalties would institute a trade war and raise prices for consumers and lead entrepreneurs of all types to flee america. his tax plan in combination with the refusal to reform entitlement and address spending would balloon the deficit and national debt. >> donald trump's after that was classic trump, demeaned mitt romney as a failed candidate and somebody who would have gotten on his knees which he got in 2012 and said that mitt romney doesn't have as much money as he does. >> he said about trade. we have to keep trade, nobody

knows more about trade than me. i made so much more money than mitt. i have a store that's worth more money than mitt. it's a store. >> here's the problem for the republican party in all of this. whether or not donald trump remains on the path to become the republican nominee or mitt romney's attempt helps and interrupts that and somebody else wins the nomination, it's going to be very difficult to pull this party together between supporters of donald trump and other candidates before the november election, guys. >> thanks very much. today's events had us remembering four years ago when donald trump endorsed mitt romney's candidacy. watch. >> mitt is tough. he's smart and sharp and he's not going to allow bad things to continue to happen to this country that we all love. governor romney, go ought and get them. you can do it. >> thank you. >> there are some things you

can't imagine happening in your life. this is one of them. being in donald trump's imagineny cent hotel and his endorsement is a delight. i'm honored and pleased to have his endorsement. >> and here we are four years later. ben white, we call him morning money ben on twitter and politico and jonathan chaplain. good to see you both. watching both of those men speak today, i couldn't put my finger on it but i sensed something big was happening today. what's going on here? >> what's a difference four years make given the clip you just showed. i don't think romney is too delighted about the rice of donald trump. romney's speech itself will not change the nature of this race, trump supporters have no time for mitt romney, he's establishment and wall street and the past, what's going to matter is the money that people associated with romney are going to put up on the air in florida

and illinois and in ohio, all of the critical states that trump has not won yet and needs to win to consolidate the delegates and win the nomination, there's going to be a ton of money on the air there from our principles back run by a former aid, getting money from paul singer, big wall street hedge fund guy. they are going to try to bring trump's numbers down and beat him as the only way to stop them from getting the nomination. >> his lead has people here trying to examine exactly what the impact would be on businesses they follow. jonathan, you're one of them. talk to us about what you think trump would do for the businesses you track here. >> well, to be honest, it's really difficult to figure that out. it's really difficult to figure out what the policy initiatives under a trump presidency would be. we wrote a report on telecom policy under a trump presidency back in the summer when he thought his candidacy was a joke. we didn't think it would get to this point. after super tuesday we looked at it again, let's figure out what

it would look like. we spent time speaking to sources in d.c., trying to figure out who trump's policy people on telecom are. we can't anybody focused on this issue within the campaign. and so we're left with following his twitter stream and some of the comments he's made to figure out what he believes. >> to be fair, can you name a candidate for an office like president at this point, this juncture of a campaign where you could say what their impact would be on a political industry? >> yeah. >> it is the nature of a candidate not to want to be that specific about policy issues. >> at this point they usually start surrounding themselves with really smart people focused on the issues that are going to be important during the administration and the campaign. and so usually at this point we know, we've got counterparts to speak to to get ideas on these sorts of issues. >> we're talking about things

like net neutrality -- >> there we've got an idea because he's made a statement on that. net neutrality gone -- we would abolish it. >> the libel issue as well, that affects obviously a lot of the media companies that here involved who could all of a sudden be looking at, what are we talking about in terms of retaliation or something. >> trump hates to be criticized. those are the only two policy sort of statements he's made that affect my industry and seem to be completely in contradiction. >> ben, i'm sorry, let me just, do you think it's possible that romney's speech back fires on the republican establishment today? i mean, this the time when trump supporters can say, we got them on the ropes and where we think they should be right now? >> he's breaking out the failed kand date from 2012. i don't think it will really backfire as much as it won't have any impact. it's happening in the middle of the day. i don't think people are paying that much atepgs, not going to be a huge part of the news cycle.

it's not going to be tremendously helpful. the whole trump electorate of based on distrust of elites and distrust of washington and mitt romney is associated for better or worse with all of those things. maybe at the margins there are people right now in the establishment that are flirting with donald trump, saying maybe we should make peace with this guy. maybe at the margins those people say let's hold off. it gives the anti-trump folks a little momentum and guy to say this is our leader in this movement. >> by the way, ben, some have pointed out, tried to argue and make the case that the dollars spent on anti-trump ads in oklahoma had an impact. do you think that's true? it will go back to the point of the next initiative, this pact or whatever. >> i think they will tell you that they don't know the answer to that, but they are willing to try. they think the case against trump has not been prosecuted much on the ire waves, 250 or

more so spent on this campaign. only 10 million on negative adds. they want to go up in big states, look at trump mortgage and bankruptcies and statements on david duke and kkk. they are not sure it will move the numbers but figure let's take a shot. as your other guest is saying, a lot of people in the business community do not understand what trump's policies will be and impact on the economy will be and think it's negative on trade and negative on debt and deficit and trade wars, they are willing to put money up. they've got plenty of it. let's see if we can move the numbers and nomination either to rubio or cruz or somebody else. >> ben white of plitco and jonathan chaplain. pleasure. >> thank you. >> the dow up 33 points. >> and towards the highs of the session in fact, donald trump isn't the only presidential candidate feeling heat today. hillary clinton's e-mail scandal takes a new turn. former staffers given immunity

from contribution, campaign response coming up. people are flipping out again over housing. flipping, got it? the rage a few years ago, flipping houses has returned as the economy has improved. we're back after this. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be.

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movie times? great. online banking? use a secure network. protect yourself from prying eyes. the more you know. remember when it was all the rage before the great recession of 2008 and just as the economy has bounced back, so too has house flipping. >> oh, goody. diane has been tracking this trend. is this happening again now? >> of course it's happening again. the number of active home flippers last year was the highest in nearly a decade and it's only growing. big numbers on this big but risky business. close to 180,000 single family homes and condos were flipped in 2015, a flip is defined as a home bought and sold within the same 12 months. now flips made up 5.5% of all sales and first increase in the

flip share after four years of shrinking. flipping increased in 75% of u.s. markets and profits are growing as well. homes flipped in 2015 yielded an average gross profit of $55,000 nationwide. the highest for flips nationally since 2005. the return on investment close to 46%, up from 44% in 2014 and up from 35% in 2005. why do we compare to 2005? that was when flipping was rampant thanks to super ceasy credit and the peak number of flippers and over 8% of all sales were flips. where do you get the best returns on your flips? pittsburgh, new orleans, philly, cincinnati and new haven, connecticut. the biggest dollar returns are in california and new york but you're putting big dollars up front on those for the flip. here's a warning though. flipping can be a sign of overheating home prices. so of course you want to watch for that. bill, kelly, they are back. >> pittsburgh by the way has had

a ton going for it. carnegie mellon moved there and google has a big operation there. i can maybe understand why you're seeing returns of 130%. >> it's a sign of a rising housing market. they tend not to flip when the market is going down. >> you can't make any money that way. >> no, you cannot. you can't short a house. you can short a stock but not a house. the imbalance going into the close art cashin tells us is 15150 million to buy but there's a major waiting coming that could skew that. as we head to the close nine minutes left, the dow is up 33 points still. >> and nasdaq is in the green and you can see rotations going, more in a second, out of the big names that led the way last year, and we've talked about john deere, caterpillar, the transports up 9%. >> transports too.

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kelly and i have a saying, it's later than it's ever been. we'll be tight on time here, my friend. what's going on in this market here? what's going to be the next catalyst do you think? >> that would be profits and you've got the three central bank meetings coming up a week from today, thursday you're going to have european central bank and following tuesday, you have the bank of japan. after that you have the second day of the two-day fed meeting. that's a big part of it. you want to see profits and ceos speak positively, we're going under a bounce right now. b is for banks, they are up big. o o for oil and u is unemployment claims down 52 weeks, and nice rise in treasury rates rather than a spike or worries about deflation and c is china. the stimulus and e, the economic

news flow has been good, bill and kelly. fakry orders, durable goods and personal consumption and expenditures. >> we're grateful your word of the day was was sup cal fraj list tick. >> thanks, everybody. >> one of the rare times that darst didn't even break a sweat in this segment. we'll be back with the dow up 42 points after this.

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43 point gain as we head to the close. dominic chu joins me here. there's what the dow has done this week, lots of volatility monday and tuesday. nada since then and we get tomorrow after the jobs report. >> 2% week to date. it may not seem like a whole heck of a lot but it's a victory if you're a bull in the market. the interesting part, it is going ahead of that big jobs number tomorrow. the idea that you have energy stocks really kind of pacing things today, the fact they are now positive in 2016 year to date, the only ones that were before were utilities and staples and telecom stocks, a beaten up sector is getting a bid.

now the question is whether or not to keep it. financials the huge worry for a lot of folks. >> come back later when you can stay longer. >> i will. >> up 40 points. we'll have live coverage of tomorrow's job report on "squawk box." stay tuned for hour number two of "the closing bell" with kelly and company. see you tomorrow, kel. [ applause ] >> thank you, bill. i'm kelly evans and we're going out at the highs on the session, the dow gaining 43 points. this compared with a low down 78 today. a real big turnaround, the s&p 500, the broad index was the outperformer, up a third of one%, closing around 1993 and nasdaq did manage to turn green. up four points, 4407. as you can see across the indexes it was a lot about oil and energy and industrials and

transports beaten down hated stuff. copper, things starting to perform again. we'll get back into that in a moment. we have senior market commentator mike santoli and carol roth and fast money trader david seaberg. what do you make of the turn around? >> two days in a row you had this subservice strength, most stocks going up when the indexes weren't doing much of anything. we're stretching this rally pretty tight. closed almost exactly 10% up, just 14 trading sessions ago, 10% since february 11th. within a couple of points of that. that kinds of tells you internal measures are telling you the bulls are pressing their bets a little bit. we took away the premature recession fear and got on board with the u.s. economic data looks okay and all of that stuff got us to this point. have we banked in a good jobs

number? we'll have to see. >> it seems like a lot of the individual news on individual stocks is doing some good things to lift up those particular stocks and that market overall, a name i'm thinking about is a disney, which i do have an ownership position in. bob iger comes out today and says positive things. the stock reacts positively. we're seeing that whether it be tumi or disney. a lot of names across the board where those individual names are actually being treated individually. and the babies aren't being thrown with the bath water. >> even bks and barnes & noble did okay. you had a lot of traditional energy industrial space rally and the longer this goes on the more people will think there's something to it. i mean, it shows you how people are positioned right now. honestly in front of a lot of meetings coming up, a lot of ecb meetings what have you, people are fearful of being short in

this tape. i think that's really telling the story. from a fundamental perspective, the bears will argue that there's a lot of risk here from the standpoint of where earnings are going to come in. you figure 120 in earnings and we're roughly beating up against the top end of the range of where we can really go. there's a lot more risk from the stand point of fed policy, right? so i look at it and say the real trade here, the fear trade of being short is really making all of these beaten down sectors and short covering going on in energy, all of that stuff going on right now that's lifting a lot of sectors. we saw a lot of material names as well. look at the xm e, up 61% in a short period of time. >> the other element what david is talking about, the same heavily shorted names are the ones that had tremendous credit risk. when you see the actual commodity prices in the industrial metal space in oil and gas go up, the stock is

probably not a zero because it doesn't have bankruptcy race or near zero. you're seeing a lot of that get lifted away. the reason the oil was such a problem. every dollar oil went down it stranded a lot of capital. every dollar it goes up or stays here, it rescues a lot of capital. >> that's why we love you, mike. >> southwestern was up 18% when i checked on it earlier. those are the kinds of names, chesapeake had a big rally again today, rig, trans ocean up 11%. it did move higher. this seems more like something -- look at caterpillar on the dow. we mentioned this earlier. caterpillar is 52-week low at 56 bucks and today trading at 71. >> and i think that david hit the nail on the head in terms of the risk that still remains in the market. this is very frustrating for the long term investors at home who frankly should probably not be paying attention to these moves. but i think there's a likelihood that we go back and retest the lows we've seen again, i

certainly don't think we're out of the bear market. i think that maybe we're in a breather right now but certainly for the time being we'll take it. >> and a lot does depend -- the transports david seaberg, that's an interesting one. we're focused on the leading parts of the market. we're going back now to late december 2014 when the rest of the market stay fined and 2015 the transports did horribly but facebook, that was the fang year and amazon and netflix. the story of this year we're starting out very different. i guess you double down on these bets now or no? >> no, i wouldn't. i relate it right back to positioning. once fundamentals do come into the horizons or the sites of a lot of these investors, i do believe you'll see some of the names that really worked last year that pultd back a lot more, start to become more en vogue and be brought up again. i think they have come back way too much. >> hang on, everybody.

earnings here just crossing, hp enterprise, david faber has those numbers now. >> a fairly good quarter reporting 41 cents a share in adjusted earnings per share. that is a bit above what had been expected at the 40 cent estimate of the analyst. 12 pts 7 in revenues, a recent split, hp into hp i ink and hp enterprises. she talked about the value of focus she believes is being brought to the new company as a result of the smaller size and executives can spend simply spebd more time with customers and may show the top and bottom line. 12.7 revenue number right in line but it was up 4% on a constant currently basis. given the strength of the dollar and comparisons year over year with a dollar that was still

weaker, second half of this year will bring easier comparisons for them. they did have a 3% top line decline when you actually figure in the dollar. of course, everybody loves to adjust for constant currency. it would be the year over year revenue growth for this company. interestingly, they did see some weakness briefly in the mac row area in the americas, customers pulling back. it has resolved itself in february and saw something similar mentioned from sisco. and also need to mention the buyback because the company does step up with its buyback. they returned 1.3 billion in shareholders last year and now increasing the commitment to return at least 100% of free cash flow to shareholders in fiscal year 2015. the cfo telling me they think it's a great time to be buying the stock and have $2 billion proceeds from a deal still in

the offing with china and when that does, they'll apply largely to stock buybacks, you have a look at hewlett-packard enterprise. the stook reversed from what would seem like a down afternoon. >> any mention of on ald trump. >> yes, and tomorrow when we speak but you can be sure we're going to talk about her thoughts about donald trump and the impact or potential impact i should stay on her business or on hewlett-packard enterprise business. she shared the idea. customers, it's the first question they ask, what about this guy trump? is this for real. we'll discuss that tomorrow. >> 9:00 a.m. "squawk on the street". >> any breakdown in terms of the free cash flow for the last quarter and what they are seeing

in the future? that's a metric that a lot of investors are highly focused on. >> they were negative free cash flow but seemed to indicate that was not or should not have been something of surprise in terms of where they've ended up and given the first quarter is typical first quarter there is typical of that, carol. but the guidance is more or less in line in terms of what they had provided previously on free cash flow of 2 to 2.2 billion for the full year. >> david, thank you. >> covering earnings from hewlett-packard enterprise. as he mentioned, he will be speaking to meg whitman tomorrow on "squawk on the street." it's gopro chip supplier, josh has those reports. >> let's get you those numbers, 64 cents on 68 million. the street was looking for 48 cents on 66 million. so a beat on the bottom and top

there. looks like gross margins clocking at 64.1%. the guide was disappointing, q1 revenue between 55 and 57 million and analysts thought the company would do about 62.4 million. in the earnings release the company's ceo talking about the fourth quarter where they saw strong sales in professional ip security, the core market, home monitoring and drones, but it was largely offset by a decline in the wearable sports camera market. a lot of investors look to ambarexts lla as a tell on gopro, which makes up 75% of the revenue, so the ceo saying continuing to decline in the wearable sports camera market and conference call kicking off at 5:00 p.m. eastern and we'll be on it. back to you. >> those shares down 3% on the

news. >> we made the quarter but the outlook isn't that great. stock up from 35 a few weeks ago. you have to keep in mind this was one of those kind of crash stocks into the february low and added 10 bucks. probably have room to give some back. >> sort of a leading indicator in some way and lagging indicator. if you're go pro, you're putting stuff into the channel and that's not going to hit for a while. i'm looking at this particular stock and this is not one i want to be adding to my portfolio. >> what would you say? >> i totally agree with it. hp, both of those names i would stay away from. i don't see what meaningful to really turn the story. stay away from both of them. >> by the way, hewlett-packard enterprise, now we're getting results split into two companies, obviously different challenges going on with each business there, does it seem like it was the right thing to do for shareholders? >> absolutely. i mean, i think splitting things

up like that always does look to be the right thing to do in the long run. but these two companies and enterprise side is a name i don't see what meaningfully changes there. this is a very -- a name that people really hated into the quarter, low expectations and maybe we would have seen a little short covering bounce here but again, it's not a name i want to put long term money into by any stretch of the imagination. >> how would you tie things up? >> in terms of hp, the focus makes sense, two different businesses but usually when you have this split, one more the growth company and one more the the cash cow company. they are kind of both mature cash cow companies. this one looks like it has more prospects to grow over time because it doesn't have the pc and printer exposure. >> with meg whitman at the helm at potential acquisitions, i think that has some opportunities, though not

necessarily adding today. >> we'll leave it there for you. thank you, guys, be sure to check david and fast money crew tonight, running with the bulls. saying the market's recent rally just getting started and he'll explain why at the top of the hour. top china watcher explains why the slowing economy is good for the u.s. the justice department granting immunity to a former hillary clinton staffer over the e-mail server scandal. should she worry about a possible indictment? that is later on "the closing bell." ♪ ♪ for your retirement, you want to celebrate the little things, because they're big to you. and that is why you invest. the best returns aren't just measured in dollars. td ameritrade®.

u.s. stocks have been rallying back but how asian markets have also been rallying. >> gains in asia have been notable. japan up 4%, malaysia, indonesia, taiwan, even china, the shanghai composite on track for their longest winning streak of 2016. that's helping the emerging markets out of etf outperform. it's right now on pace for the best week since december of 2011. a couple of factors here, first the stability in oil prices and weakness in the dollar.

also, dofish commentary from central bankers and mario draghi and kuroda both expected to cut rates deeper and counterparts have been defending negative rates and implications for the global banking sector over the past two days. we had encouraging news out of china. pboc injecting nor liquidity into the economy and on currency front, leaders promising there will be no one off devaluation. wall street analysts on average are still betting on a 7% drop in the chinese currency from current levels by year end. as we know, that could spell trouble for stocks. the yuan has been a source of global market volatility as we saw back in january as well as in august. >> sure, it's being watched by everybody. thank you. >> seema modi at headquarters. not all is bright within its

borders, china reportedly planning to layoff 5 to 6 million workers in the next few years to curb overcapacity and pollution. for a closer look what's going on. we welcome jeremy haft, unmade in china. that sounds like a trump speech, jeremy. >> whether you get down to the ground of the factory and farm, things are not quite as they seem from the u.s. perspective? >> what are things like? >> beijing has done a great job in convincing the world is that it was a stock market and it's not, never intended to be a stock market. it was set up to transfer capital from one part of the government to the other part of the government. the striations don't give an indication of what the real economy is like on the ground and stuff is better but it's actually a lot worse. >> don't one on other hand. it's been a long day. >> at least the market is up, i

hear you. it's a lot better because there's a lot of debt in the corporate sector in china and government, but chinese households are great savers and keep money under the mattress. and as china begins to slow severely which has been for many years, consumers will spend the money on essential goods and services, that's a great piece of news for american exporting companies and companies doing business in china. that's why you're seeing, for example, agricultural companies advance manufacturing companies all continuing to do great in china because of that inherent consumer demand. >> isn't there a flaw in this pseudocapitalistic thesis they are trying to push? they are a communist regime and so many benefit from being greeding so to speak and not changing the structure so the middle class can benefit.

isn't the whole underlying thesis very flawed? >> you put your finger right at it actually. and to the extent that china holds back the free flow of capital and people and ideas, is the extent that china holds back its own evolution innovation. the state owned sector actually has a stranglehold on that economy. as china fights with overcapacity and trying to fire workers, i mean, that really only scratches the surface of the fundamental weaknesses in its economy. if you look at those corporate giants, those state-owned enterprises, they are some of the most weekly governed and poorly governed countries in the world. you have large multinationals like shell and halliburton that avoid doing business with these large state-owned actors was they put forth risky weak product. >> it's been this way for a while, for now, anyway, the government there seems to be able to move the pieces around

okay. you hear this 5 or 6 million layoffs going to cost the central government a lot of money. isn't that them easing their way out of unproductive industrial areas northeast of the country and massaging this evolution of the economy? who knows when it runs out, i guess is the question. >> i agree. they have to do this. if you look at capacity in the steel sector, they have double the amount of capacity than the entire capacities of the four next countries, including the united states and japan. so steel market, coal, these markets have been completely distorted and they've got to cut capacity back. they are also investing about $1.4 billion in worker retraining which is a good idea. but ultimately, from where i'm sitting and trying to make stuff in china and sell stuff in china. the fundamental weaknesses go deeper than overcapacity. if you look at the structure, it takes like 15 companies to make

simple products that might take us through companies to work. that's why you said tens and thousands of major safety scandals over the past few years. >> good point. another reason to bring jobs back here. thank you for joining us. >> thank you for having me. >> up next we'll break down historical response to jobs friday and how it's been shifting over the past few years? >> "star wars" was a force for amc, but can they pump out profits without another record breaking hit on the horizon. later on "the closing bell." but i only had a salad. it was a buffalo chicken salad. salad.

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more earnings coming in this hour. >> let's start with broadcom limited, beating expects, 2.41 adjusted versus 2.30 following the acquisition for $30 billion. that stock up better than 7%. the company does expect to eliminate approximately 1900 positions from its workforce across all business and functional areas. so that's something to keep in mind. switching to planet fitness, went public last year in august. the budget fitness chain earnings and revenue beating expectations, earnings of 17 cents adjusted. very strong 2016 earnings guidance i might add and revenue outlook also looks above

expectations. this will be an interesting company to watch ahead of a potential ipo from soul cycle later this year. smith and wes son, revenue higher than 211 million versus $175 million. strong q4 guidance as well. that stock is halted and we'll bring you -- let you know when that stock does resume for trade. right now up half a percent in the regular session. >> seema, thank you. the jobs report could set the tone for where the market is heading next. >> unlike what seema just showed us, the overall stock market is probably not going to have a huge amount of fireworks, at least to close the day. interday we know things can get whippy around those numbers, right around what happens at the opening bell and we could see a little bit of action around the

midday. when things end upsetling out, it doesn't end up becoming much of anything. the stats are here. according to data partners, we took a look at the time all of the jobs report going back to 2001. 182 of them by the way. the s&p is positive and a coin toss, 52% of the time to finish the day on that jobs day. the average return, it's do down .1%. 182 different jobs reports going into this. on balance though, the s&p 500 doesn't close up or down by a percent or more, only happened 53 times, less than a third of the time it happens really. 32 have been negative outsized losses and 21 have been positive. again, unless you're a trader looking to traffic in volatility, a lot of people don't want to play in or around the number. you may want to set yourself up for longer -- >> jump in here, everybody, it

might not move the market so much on day but tends to set trading ranges and gives us information that sets us up for a rally or this or that for months. >> so much of this has been centering around what kind of expect. we just heard that huge debate earlier in the 3:00 hour before santelli and gilfoil about what is driving these markets. this is going to be one of those things. every jobs report will be the most important jobs report since the last jobs report. this is obviously the granddaddy of them all, employment data in the u.s. has a macro, macro impact on what happens. >> the question for everybody is recession, you cannot have that really be the case until the jobs picture contributes. >> you're somewhere near this point how we're going to view the economy right now. i would imagine that one out of three days of all days are not a 1% move in the market. somewhat more volatile

especially since you went back a couple of cycles. >> i think market knows that the job report doesn't accurately portray what's going on in the industry. it's an average, not a median. it's not showing some of the hurt that a lot that is going on with a lot of americans. i think especially in recent years, you looked at the broader set of data. in recent years when people have been hyper focused and things have changed substantially. it's discounted pretty substantially because people just don't think that's an accurate reflection of who's in the workforce and what's going on with the average american wages from a median standpoint. >> i would add to the volatility side of things, more of these up and down things have happened in the last five years opposed to the last ten. drew over at ubs says that the jobs data he prefers to look at it is the weekly jobless claims. >> absolutely. >> higher frequency and more of a look longer term -- >> which more or less confirms what the regular jobs report says right now anyways.

>> that's true, it's below 300 and staying there. we'll take it to the desert island as our one indicator. we'll see what the market does with tomorrow's report. let's get to sue herrera. >> south africa's constitutional court rejecting olympian oscar pistorius's right to appeal his conviction for the murder of reeva steenkamp. pistorius faces a minimum 15-year jail sense. >> in flint michigan, they raised money to hire a contractor to dig up the pipes, the city and state removal plan begins tomorrow, 8,000 service lines need to be replaced at a cost of at least $50 million. one of the best known bridges in washington, d.c. may have to be permanently closed. the national park service is about to patch up the arlington memorial bridge for the last time. that bridge may have to be closed to traffic in about five years. and boeing has developed a

self-cleaning bathroom. uses ultraviolet light to kill 99.9% of germs. why don't they just say all. it says the cleaning system can disinfect all surfaces after every year in as little as three seconds and boeing believes this will enhance the passenger experience on commercial flights. >> not if you -- not if you have to see the light, sue. >> i don't know. there's not too many places to go from that one, kel. >> like the black light. thank you, sue. good to see you. china's box office surpassing sales in north america for first time. the ceo of movevy theater chain amc describes how it could impact the whole industry. >> investigation into her private e-mail server, "closing bell" is back in two.

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together, we're building a better california. time for your market rapid recap. stocks staging a comeback. look at that chart. closed higher for a third straight session. dow had been down 79 points but it close near the highs. the energy sector fueling the

rally. oil was flat but natural gas prices 13-year low and energy was the strongest performer. hewlett-packard enterprise reporting better than expected profit and revenue after the bell. there's a look at shares up 6%. the company also forecasting second year and full year earnings in lines with wall street's estimates, meg whitman will break down those results on "squawk on the street". >> another development in the hillary clinton e-mail scandal. eamon joins us now. >> this is a potentially significant development in the hillary clinton e-mail saga. the "washington post" reporting this morning that bryan pagliano has reached a deal for immunity in change for testimony. it is not sure whether it is a prudent move by his attorney or this could pore tend something more ominous for the clinton

campaign. what we know right now, there's a lot of speculation where this investigation is going to ultimately land. so far we've seen the 2,079 of the 30,000 e-mails released so far have contained classified material. 22 of those classified e-mails were designated top secret. none of the e-mails according to the state department were marked as classified during the clinton tenure. all of this is about whether or not hillary clinton misused classified material when she installed that server in her home and used a private e-mail address rather than the state department system. we're going to have to wait and see where this goes but watch bryan pagliano and see if he has something to reveal. >> thank you, for now. hillary clinton also the target earlier today of former republican presidential nominee mitt romney. here's what he said. >> for the last three decades,

the clintons have lived at the intersection of money and politics. trading their political influence to enrich their personal finances. they embody the term crony capitalism. a person so untrust worthy and dishonest as hillary clinton must not become president. >> with us now for her reaction to those comments and the e-mail scandals, karen finney, senior communications adviser and spokesperson for hillary for america. what response do you have to mitt romney using crony capitalism, untrustworthy and dishonest? >> i don't have much to say to mitt romney. his performance in the last presidential election speaks for itself and the comments about the 47% of americans. i'll leave that be. >> did you know that this bryan pagliano? >> no i didn't. i want to step back, eamon, as

much as i respect them, there were things jumbled up in what he said. let's step back and remember what we're talking about is a review by the justice department that started last summer and within that review, mr. pagliano is the person who was responsible for setting up the e-mail server and for some maintenance. so we don't expect that he's going to have much to say with regard to actually the e-mails themselves, which is sort of a separate issue. on that issue, obviously secretary clinton herself has made very clear from the beginning when this first started when she actually actually asked to have her e-mails released. she has no concerns about -- we're talking about here is information that would have been retroactively classified because of the request to make those e-mails public. even if that was a dot gov e-mail address, we would go through the same process.

most recently we heard from colin powell who we learned in this investigation also used -- there have been questions raised about and after the fact classification, which he also says is ridiculous and has every confidence in his e-mails. >> let's put the criminality issue aside and talk about judgment. if you have someone dealing with e-mail that's have to do with foreign policy and have to do with national security, why would you have the judgment that potentially having your own private server in any way, shape or form would be a good idea? i mean it seems like common sense would tell you that that's probably something you shouldn't do and if that person wants to be leader of the united states, basically the leader of the free world, to me that judgment seems very, very poor. >> well, you know, here's what i would say on that and you may not be aware of this. let me help you understand how this works. in the state department there are two totally separate systems.

there is a system that is for the communication of secure information, there are also in addition to sort of the e-mail system, don't forget there are a whole other modes of communication in terms of direct face to face meetings and video conferencing and telephone calls. when we talk about the transmission and communication of secure information, there's a whole separate set of protocols in the system. what we're talking about here is a -- the use of a private e-mail, a personal e-mail or dot gov e-mail which you would never transmit that sensitive information on a dot gov e-mail either. when it comes to judgment, i think what's most important here as others throughout the process including senator dianne feinstein have made clear, there's absolutely no evidence that the system -- the personal system was ever hacked or there was ever any risk in terms of security there -- >> certainly a bad idea. >> no, more importantly, hillary

clinton as she has said all along, never received nor transmitted nor sentd classified information. what we're talking about. this is important, we're talking about a set of information potentially being classified deemed classified after the fact for the purposes of a public release. this is a very normal process that happens any time information is leaked. >> she's also said it was a mais take, right. >> all right. we've got to leave it there. >> karen finney joining us, the latest as that story continues. smith and wes son we opening after reporting earnings. shares are up. >> stock is up 8% after hours. gun maker reporting better than expected earnings and revenue in the press release, citing healthy demand across growing firearm and outdoor life styles offering and the adjusted national instant background check system which serves as

computer services reported a significant increase in growth versus a prior year. stock up 6% after hours. >> thank you, seema. jay williams had a promising nba career until he crashed his motorcycle after his rookie season. he'll join us live in a moment. star wars the force awakens giving amc a boost. with the next series not out until october of 2017, how can the momentum continue? the ceo will tell us, next. we were born 100 years ago into a new american century. born with a hunger to fly and a passion to build something better. and what an amazing time it's been, decade after decade of innovation, inspiration and wonder. so, we say thank you america for a century of trust, for the privilege of flying higher and higher, together.

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new numbers show china's box office surpassing north america's for the very first time this week. chinese theaters took in a billion dollars in february. whereas theaters in north america brought in $800 million. this as theater chain amc finished 2015 with a strong fourth quarter, up 10%. for more now, ceo adam joins us. >> the last time i saw you was opening night of "star wars" and it's been quite a two and a half months. >> you didn't just benefit from people buying ticket but food and drink revenue up 16%. what are people buying? how much are you charging for popcorn? >> it's not popcorn anymore, it's pretty good. but food and beverage revenue is all time record for amc in 2015

because we're introducing lots more food options. actually dine-in theaters, we're putting bars in our lobbies, about a third of our movie theaters in the united states have full blown alcohol service in the lobbies which you can carry into the theater. we're trying to make the whole experience better and better and combine that with good movies and causes people to show up. >> it's been more and more of a luxury experience but you also depend on big movies to bring people in. is mermaid going to fill the goal here? i think at some point box office is going gangbusters and those movies may come here and do well. >> three of the past four years have been all time records for domestic box office, u.s. and canada. "star wars" was the biggest grossing film of all time. just a few weeks ago, "deadpool"

became the highest grossing movie to open in february. "the revenant" did will and we're proud of something called "spotlight." we took the oscar for best picture. >> what does that mean for you financially to own content like that, especially as platforms here pro liver rate and netflix is showing movies too. >> the burden will be on us to do two things really well, have great movies to show movie goers across the united states and create an experience that's so wonderful, that gets you off the sofa and get out and spend the night at the theater. at a quarter of our theaters nationwide, we now have plush recliner seats where you lay

back in style. put that kind of comfort, better food, better movies -- >> can i bring my cat yet? >> you know -- >> i'm kidding. no, you're not, i'm a pet fan. so while i don't think we're pet friendly yet, i think we ought to think about it. how's that? >> iave one quite serious question for you, president donald trump, what does it mean to your business? >> i think the more appropriate question, donald trump what does he leave to america? for that answer i'll left for rest of the people to comment on cnbc to answer that. >> a diplomatic ceo. adam aron. jay williams' life has changed forever after a motorcycle accident derailed his budding nba career. he'll join us live here. what is this? sweeping up? what a guy. we'll see him right after this

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jay williams was a three-time all-american basketball player with ke. everything changed the summer after his rookie season in the nba.

crashed his motorcycle and all that promise disappeared. jay is now out with a new memoir, called life is not an accident. recounting that crash and all that ensued in its aftermath. he joins us on set, having just swept up the place. >> just trying to clean up new york. >> you had to clean up your own act, too. what happened to you wasn't just the accident, it was what happened afterwards. tell us about it. >> when you make a mistake in the public eye, you have to live with that regret for the rest of your life. one of the most difficult challenges about living in new york is every single day i stepped out in public, people naturally reminded me of the worst day of my life. not maliciously, just trying to start a conversation. that led me to addiction issues, alcohol abuse. that sent my life into a downward spiral. it wasn't until after my second suicide attempt that i started to pick myself up. >> there are people looking at you, how amazingly successful you look in book and say, how did you get out of that place?

>> very similar to, i have a lot of friends that are ceos of companies, and i recognized they all have boards they need to answer to. i started to pay attention who was on jay williams' board. at the time there was a drug dealer, not the right kind of decisions. i had people on my board that held me to higher standards than i held myself. having that kind of responsibility allowed me to pick up the pieces and fight back. >> mike? >> to what degree to you a tribute that position you were in, with all that attention on you and you're expected to do great things? every nba draft feels these programs that the league has to usher great college athletes into the game, and into the public spotlight. do they do enough? did they do enough for you? >> they didn't need to do anything for me. look, becoming an nba player is like winning the lottery. people are handing over millions of dollars. we didn't talk about finances growing up, and they say, here, run away with it. my father would say, you see the

coaches making millions of dollars. espn is getting rights for the tournament. p $10.5 billion for the march madness. what are you getting from the school? i started sending letters out to different ceos, different people in chicago, inviting them to games. let me start surrounding myself with those kinds of people so i can build my own team financially. >> there are so many people out there watching this right now who have their own moment, a missed opportunity, who feel really alone. they feel like they don't have that board, that support around them. what can you say to them? what do you tell them about forgiveness and letting go and how can they move on so they can achieve great things? >> i think the only way to move on in life is being vulnerable. my ego was to a point i didn't want to ask for help. eventually i started soliciting people around me and saying, hey, look, i'm not doing well right noi. this has happened. i feel angry. i feel sad. there's so much pity given towards me right now. how do i pick myself up? i started to incorporate those people on my team.

i think sometimes when you ask for help, people will come out and invest in you. similar to investments -- >> twitter, buy, sell or hold? >> hold. i'm holding for jack dorsey and adam. >> what about the chicago bulls? they're struggling a little bit. >> first off, rose signed a $100 million contract, he's doing okay. he'll be fine in time. >> thank you so much for joining us. >> thank you for having me. >> "life is not an accident" on sale now. there we go. it was a busy hour for earnings. we'll get a check on news for you next. and jack welsh tweeted his presidential pick up next. can't it's a drone you control with your brain, which controls your thumbs, which control this joystick. no, i'm actually over at the ge booth. we're creating the operating system for industry. it's called predix. it's gonna change the way the world works. ok, i'm telling my brain to tell the drone to get you a copy of my resume. umm, maybe keep your hands on the controller. look out!! ohhhhhhhhhh... you know what, i'm just gonna email it to you.

yeah that's probably safer. ok, cool.

welcome back. a lot of earnings after hours here. broadcom, up about 7.5%. smith & wesson is up 6.5% on its strong outlook. hewlett-packard up. moving politics, though, jack welsh has just weighed in on his pick for the republican presidential nominee. he tweets, if you care about supreme court rulings, ted cruz is your only sure bet. >> what i think is interesting, of course, he hasn't said this in his tweet is, would he sign

this pledge. no matter who the republican nominee is, you know, jack being a longtime republican, would he back whoever that happened to be. >> donald trump was under pressure to sign the pledge. now everybody's going wait a minute. >> this underscores how much the establishment doesn't understand what's going on in their own party, and throughout america. the people are frustrated. they want something different. people who are voting for donald trump, its's not so much about him as a person, it's almost a quiet revolution to say, we're not going to take the establishment anymore. and they don't understand, they keep trying to jump in front of the freight train, you cast stop it that way. >> that's what makes the establishment is the establishment, they don't understand when things aren't packing up the way there's used to. >> quick mention here, probably most important thing for everybody -- >> i do think the market still wants good economic news. maybe we priced it in with the little rally. >> i still think whatever we see is not going to be an accurate

reflection of what was going on in this country. >> i know you can do it, carol. that does it for "closing bell." "fast money" begins right now. "fast money" does start right now. overlooking new york city's times square. i'm michelle lee. tonight on fast, the second biggest bull on the street is here. and he says s&p 2300 is in the cards. plus, shares of disney jumping after the ceo said what could be next at the magic kingdom. the sector that was one of the past month's biggest gainers could this year's biggest trap. why this rally could be the ultimate head fake. but first, we start off with the markets. managing to eke out a winning streak. up more than a percent. financials continue to gain.