>> i've never seen that. >> i am flum mentimexed that thl themselves a camera company. melissa, you're the cutest. >> thanks, michelle. >> thanks for watching "power lunch." >> "closing bell" starts right now. 227,000 jobs, great spirit in the country right now. so we're very happy about that. i think that it's going to continue bigly. we're bringing back jobs. we're bringing down your taxes. we're getting rid of your regulations. i think it's going to be some really very exciting times ahead. we're doing it. we're going to be coming up with a tax bill very soon, a health care bill even sooner. and it's really working out. >> jobs, regulation, president trump summing up all the issues

impacting the market today at his meeting with the business vi advisory council. i'm sara eisen in for kelly evans at the new york stock exchange. >> i'm bill griffeth. stocks are rallying. they're led by financials on the president's executive order of dodd-frank. senator corker of the banking committee and the foreign relations committee will talk to us. the roll back there and these new iran sanctions that were announced as well today and iran has already responded. so there's a little something going on there. let's get right to our full team coverage of the key drivers of today's market action. andrew ross sorkin is at the white house covering the president's ceo meeting. will fred frost is at post 9, and steve, jobs report liesman is at cnbc global headquarters with those jobs numbers. andrew, start us off here, bud. >> reporter: we are here on the

north lawn where the ceos, the nation's top ceos came here to visit with the president. today it was an historic meeting to talk about taxes, trade, regulation, infrastructure and women in the workplace, which became an issue that ivanka trump has been supporting. it is a meeting we met with and talked with a number of ceos as they left the meeting. i want to show you a clip from jack welch who has been on both sides of donald trump as a supporter and at some point a detractor during the campaign. here's what he had to say. >> i've been coming down here since 1980 in these meetings, and this is the first one where i had an engaged president deeply into it. this was the most exciting presidential meeting that i've ever been in. >> one of the other issues, of course, that has hung over this meeting is that of immigration. travis kalinick of uber pulling

out of the council meeting announcing he couldn't go through with it given the problems and pressure he had been under, both by employees and customers. we asked steve schwartzman of blackstone who put this group together about travis's decision to step away. >> i think travis was in a really difficult spot. his business was being very adversely affected. he had discontent among his employees and this group actually takes a lot of time. >> reporter: right. >> you no he -- you know, he basically said i'm encountering too much in head winds. would you mind if i step down? >> reporter:' lon musk said he would take his concerns about immigration to the president. he expressed his des pleasure to the president, talked about immigration, the importance of it to silicon valley and to

companies like his and there was a lot of back and forth. people talked -- ceos talked about it being a spirited discussion where the president listened but also pushed back on certain issues, and you heard different companies talking about the issue in terms of different sides. so you had walmart on one side of some of the trade issues and tax issues, border adjustment issues and boeing on the other. so pretty interesting meeting, guys. >> actually, that's just where i was going to go, andrew, asking about the tax issue because it's really become a division in corporate america, how you're going to pay for lower corporate taxes and whether the importers or the exporters are going to win. is there any sign that president trump has taken a stand one way or the other? >> reporter: well, so far as you know, president trump has said that he's not sure he is in support of a border adjustment tax. that is a paul ryan plan, but of course to make the math work at least if you're going to bring taxes down to 15% corporate tax rate that donald trump has

talked about, it gets very challenging. we will see. a little hard to define at this point in the game where they're going to go with the border adjustment tax but, of course, that was a central issue that was talked about at the meeting today. >> i know you asked jack welch about homework assignments. he's been doing that with other ceos. he said, various groups will have that to come back to. do you have any sense of how often this group is going to convene, andrew? >> we did talk to some folks offline. the sense is they're going to try to convene or plan to convene every month and at some point move to doing that on a quarterly basis given how challenging it is to bring this number of ceos together. i think we're going to be seeing a lot more days like this one in the coming months. >> andrew, thank you. andrew ross sorkin at the white house today. now to bank stocks getting a big boost from the president's brand newly signed executive order to reform dodd-frank regulations.

will fred frost was following this. this trade got a whole new lease on life this morning. >> absolutely did, sara and bill. two streaks of president trump's pen and deregulation of the banking sector is underway. first stroke, a presidential memorandum asks them to hold off on the fiduciary rule. the second stroke of the president's pen to reassess dodd-frank. here is why. >> we expect to be cutting a lot out of dodd-frank, nice businesses, they can't borrow money, they just can't get any money because the banks just won't let them borrow because of the rules and regulations and dodd-frank so we'll be talking about that in terms of the banking industry. >> there are still many hurdles

to be overcome, not least congress, and expecting full repeal of dodd-frank is premature. my reporting suggests that in an ideal world banks would like to see two key things. one, clearer definitions around the volcker rule. they continue to waste a lot annually meeting that particular rule. second, relaxation of some capital requirements although this isn't purely a dodd-frank related issue and it would help banks across the size spectrum. judging by comments from gary cohen overnight, personnel changes are likely to be an early part of call, most notably who gets appointed to vice chair of supervision at the fed, an important and vacant position. also, the writing appears to be on the wall for richard cordray. bank stocks doing very well off the back of this. >> i think it needs to be re-emphasized. these are only guidelines. to the regulators themselves, the changing of the law as you

pointed out has to come from congress. >> exactly. the fiduciary is slightly different. department of labor can refuse to implement it. that was slightly priced in. that was an easy thing to stop. changing at dodd-frank, absolutely we need to see things going through congress and i would reiterate, people kind of going off to the races. jeb hensarling says it's the beginning of the end. most analysts don't expect that to happen in full and that the banks don't want to see it fully changed. just changes around the edges. >> there are also other financial regulators here. there's the fed, whole alphabet soup, fcc, eftc, and others. >> exactly. i think overall what's the most bullish factor for banks? it's a very clear indication of where the administration stands and where they want to get to and also who's a big voice guiding president trump on this? it's former big bankers or current big bankers.

gary cohen is the man in the room and jamie dimon who's singled out by president trump in that earlier meeting as being the person to talk to on dodd-frank. that's clearly very positive for the sectors. those people are guiding the administration. >> very good, will. thanks. >> pleasure as always. >> this is good. >> good this. >> good this. >> for the banks it's -- >> can't get the vernacular. the jobs report showed solid gains in january, he said moving on, although wage growth was weak this time around. steve liesman has the details. >> bill, it was a strong jobs report. stocks surged as you see there. the bond also rallied as well. the apparent reason was the weak jobs growth. 227 was the number but we were looking for just 175. some people had really upped their forecast since the jobs report -- since the adp report on wednesday. unemployment up a tick at 4.8. average hourly earnings big

upset right there. it was lower than expected and they revised down december. you can see the trade in the two year which has come back, the yield's come back a bit from where you started. it was higher in the morning, then it plunged, and it stayed down even though there was a strong ism services number. here's where the jobs were. construction up 36,000. leisure/hospitality up 34,000. warmer than normal weather could have helped that. flatter the report. professional business services up 39,000. good sign perhaps for the future. a question for the future as well, was there a trump effect in this jobs report? did the surge in confidence we've seen in the business surveys translate into hiring. trump just in office for 10.5 days of this jobs report, but of course his aura has been a factor for months. my take there could have been some at the margins but it takes a long time for presidential policies to influence hiring if they do at all. bill? >> steve, thank you very much.

good stuff. steve liesman there at hq. let's get to the closing bell exchange with the dow up 180 points. this so far is the best day of the year for the market. >> going back to early december here for the dow. >> joe tannias is with us, keith bliss joining us from the stock exchange and rick santelli checks in from chicago. keith, financials leading the way. is this about the executive orders regarding dodd-frank, about the jobs report? what's going on with the rally today? >> all of the above. it got the big boost with what's happening with the executive orders and dodd-frank. the market has been anticipating this. financials have been beaten up. they really had a hard time getting any kind of a positive momentum going. everything is coming together right at the right time. the economy is still humming along. bank lending should be picking up especially down in the smaller sector and community bank level. you have the roll back in regulation and you have a yield curve which is stalled out a

little bit here over the last couple of weeks. all indications are that it should continue to pick up as we trend through the year. this is all set up for financials. that's an important aspect to the overall health of the market. financials should carry the way. financials are the predominant constituent group outside of the russell 2000. that has to start leading the way and get back up to the all time closing high of 1388 and continue to push forward. i think we'll see that here in the next couple of weeks. >> joe, do you agree with that? are you bullish on the financials here? if so, what stage are we in in their rally? >> i'd agree with a lot of the comments that were made. i think certainly u.s. banks and some other u.s. financials stand to do well. you have an administration that has clearly adopted pro growth policies. we are looking at higher interest rates. we have a pretty strong consumer back drop, consumer balance sheet looks healthy. household record sheets hit highs. all of them do well for

financials. you add on top of that the rhetoric for easing a lot of the administration that has been imposed over the past few years. that is certainly going to be a tail wind. having said that, it's important be to realize a lot of these expectations have been baked into the market. expectations are set very high. we've seen multi-at this pointless -- multiples set very high and there are risks that could lead to market choppiness in the months and quarters ahead. >> hey, rick. i'm curious your thoughts on the sliding yields today after the jobs number came out. i mean, i know expectations for a march report dropped precipitously but with the dodd-frank executive orders, you might have thought with the financials going higher yields might have gone up. what happened today? what's your read on the market response? >> well, to me it's all like six flags. it's my roller coaster analogy again. got down to a 242 yield in tens,

now as i look up i see 248. it was flirting with 250 15 minutes ago. a fed meeting, two employment reports, adp, the jobs report today from the bureau of labor statistics, 2s are down two, 5s are down two. 30s are up five basis points on the week. dollar index is still doing better but it's still under 100. my sense is that the interest rate complex of course pays attention to the fed and jobs reports, but there may be bigger fish to fry. i continue to say that i'm bearish, the formation i see on yields looks to go higher. it's just quibbling about the path and intensity in my opinion and the dollar index is acting a little squeamish considering that dynamic. when it comes to dodd-frank, listen, nothing is as it appears to be. i know big banks and big financials will make less money but they're making a boat load of money with dodd-frank. the real issue for big exchanges

and big banks, they pay big compliance and insulate themselves from smaller competitors. i think the growth in the dodd-frank will be good for everybody but it will be most especially good for some of the smaller institutions. i think that's why there's -- hey, we've had some big bank ceos and cfos on that weren't completely enamored with the repeal of dodd-frank and i think that's the reason. >> something we'll bring up with senator bob corker in a minute. thank you, guys. appreciate it very much. have a good weekend. >> you, too. the dow up 48 points. >> all s&p sectors are in the green except for consumer discretionary. lockheed martin striking a new deal for the f-35 jets. bob corker will talk with us exclusively in just a moment. talk about mr. trump's new sanctions against iran and the roll back of dodd-frank. you're watching cnbc, first in business worldwide.

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a rally on wall street, up 184 points. >> "best day of my life." best day of the year so far for the stock market. >> and the financials have been leading the way. visa's among the best performer. in the dow, a rise at cross border transactions helped the company post earnings beat yesterday. that stock up about 5% now. >> adding the most points to the dow is goldman sachs. >> again. >> good for 65 points on the dow. trump administration putting sanctions on iranian companies. >> let's bring in senator bob corker who joins us on the phone exclusively. senator, always good to hear from you. thank you for joining us. >> thank you. always good to be with you. thank you so much. >> as you know, iran has already responded to these sanctions calling it a violation of u.s. legal commitments as it pertains to the nuclear deal and of the u.n. security council resolution

that endorsed the nuclear deal. where is this going, senator? >> well, we finally are pushing back in the way that we should. they've violated the missile test band, they've violated conventional weapons purchases, they're violating the amount of heavy water that they keep in place so i'm just thankful that we've got an administration now that is on top of this, will push back and there are other areas. i mean, they are conducting terrorist activities in the region. we need to develop a policy to push back there also, but this came quickly. there was no dawdling around. they layed out a plan, they called their international partners around the world early this morning and they put it in place and i congratulate them and thank them and appreciate the opportunity to work with them on this. >> but to bill's point, senator corker, what does this mean of the question of the iranian nuke dleerl that was signed by the obama administration and other world leaders. it doesn't appear that this

affects the suspension of those sanctions as part of that deal. >> well, it doesn't -- it doesn't violate the agreement in any way. the fact is that, you know, the u.n. security council has said that they have been in violation of the agreement, but as you know, the way the security council is made up, it's very difficult to get them to take action. so this unilateral action is warranted. if -- if we do not push back against iran and just radically enforce this agreement, they will take every opportunity to violate and over time, you know, they will, in fact, be in a very different place. so this is an important step, it's an important signal and i think more it's going to be coming on the way. if we're going to have an agreement with a country like iran, you've got to enforce it. this is the first step towards making sure we're doing that.

>> one business question here. what does it mean for the likes of boeing who have made deals with iranian companies as a result of the suspension of the sanctions and other european countries as well that have signed deals, what would you like to see happen with all of that? >> well, look, you know, i don't know that this in any way interferes with that. the iranians may decide that it does. they may on their own take stops counter some of the investments that they're making with european and u.s. companies, but, look, again, there's no question they are violating the agreement and, yes, i know some companies have commercial interests, but for the safety of the world, obviously we've got to ensure that they stay within the bounds of this agreement and candidly i believe that the trump administration, renegotiation will take place over time. as you know, right now we've really paved the way for them after year seven or eight to obtain the ability to quickly make a nuclear weapon with no

breakout time. so i think this is just the beginning. i think you're going to see an effort to really change the terms of this over time and, again, companies that have been granted licenses through the administration or e.u. need to understand that help is on the way with this. help is on the way as far as countering what they're doing. >> senator, let me turn you to the president's executive order regarding dodd-frank. the beginning of the process to roll that back. couple questions here. i'm sure we'll have a lot of them. clearly donald trump ran on a populus campaign platform to help the middle class. how does rolling back dodd-frank, which is perceived today, the financial stocks are all rallying on this. >> right. >> how does it perceive to be helping the middle class if the banks are the real beneficiaries of rolling back dodd-frank. >> to grant access around the country, the guys that are at the rotary clubs and the kiwanis

clubs and middle america are not the big banks. they're regional and mostly community banks. they're the ones that are bearing the brunt of this. they have a small asset -- smaller asset base in which to spread the tremendous regulatory burden that they have, and it's cramping credit. there's no question. and so over time i heard y'all talking earlier, there's no question most of the relief is going to come to community banks. that's going to be great for middle america. that's where smaller businesses are getting their credit. that's where most of the jobs in our country are created. so that's exactly where most of the relief is going to come. >> what are your plans, senator, for the volcker rule? >> you know, look, i -- i don't have any plans for the volcker rule right now individually. we're going to be moving some legislation through.

having some higher gree of degr of clients to have assets, at present that's not top of mind. i think the focus was more on what was just talked about and that is really granting significant relief to smaller institutions that just don't have the -- first of all, they don't pose the risk to america that some of the larger institutions do but, secondly, again, for them the burdens are much greater. so i think you're going to see relief up and down the spectrum. some of it will be done through executive order as has been mentioned, but a lot of it will be done through legislation. believe it or not, this bipartisan support for that to occur, especially for the -- for the regional and smaller institutions across our country that have been so hurt from it. >> what about the so-called fiduciary rule which another executive order delays implementation of. that was designed to avoid conflicts of interest for

financial companies and their customers. >> yeah. >> the customers should come first when it comes to recommendations for investments. >> yes. >> but now companies have been, you know, complaining about it saying it's too onerous and it's misinformed, misintended as gary cohen said this morning. what's your view? >> yeah. i really do think it is misintended. we've had multiple groups in our office. when you walk through it, it really is not something that helps the smaller investor. it is not. and so i think a rewriting of this. obviously if we absolutely need to ensure that when people are -- especially representing people that work all day in a plan or on a construction site and they're putting monies away in a 401k or something like that, obviously we need to ensure that the people that are working with those assets are doing so in a phi dush sharely

goodman ner. >> another day, more executive orders. >> you guys need to move legislation as fast as these executive orders. >> yeah, congress has work to do, that's for sure. thanks, senator. >> in the personnel business right now we've got 1200 nominations to confirm so we have a lot -- a lot of legislation, a lot of knobs to get in place. it's a good time in the united states senate but, thank you. i'll see you later. >> thanks very much. senator corker. lockheed martin up after announcing a new deal to sell f-35 jets to the defense department for the lowest price per jet. >> surprise. >> we have that report. some negotiating here, phil. >> sara, it's been public negotiating with president trump and lockheed martin and its ceo. here's the deal that was actually formally announced today, both at the white house and also lockheed martin confirming it. $94.6 million per jet.

it covers 90 planes. the next block of planes that will be manufactured. the savings to the united states, $455 million. here's sean spicer from the white house. >> an average cost reduction of 7.5%. another big win that the president has delivered on for u.s. taxpayers. >> and he has been tweeting about it over the last month. the comment from lockheed martin today said president trump's personal involvement in the f-35 program accelerated the negotiations and sharpened our focus on driving down the price. the agreement was reached in a matter of weeks and represents significant savings over previous contracts. as you take a look at shares of lockheed martin which did get a bit of a bounce once this deal was announced today. we should point out that the ranking democrat on the senate armed services committee, senator reed, he said, look, the savings is not really there. it would have happened anyhow. so what you're seeing, guys, is the scorecard phase of these

negotiatio negotiations. we've entered into that where the president will say i made this amount of savings and everyone comes back and says, well, did you really make those savings? we're going to see this for some time now. >> all right. after you said that, now you may have sort of answered my question. my question is, where's the savings? what did they do to achieve a 7.5% price cut for these jets? any idea? >> well, it's in the volume, bill. as with all of these military contracts, the further you go into the contract as you add the number of planes and you can bring down the price, that's naturally going to be there. and then there's also efficiencies that you can bring out of it. now the white house is going to say, look, if the president hadn't of brought this up to marilyn hussin and lockheed martin, we probably wouldn't have seen these savings. that's the counter argument. >> yes. and we'll never know. >> phil lebeau. the dow is up 176 points. time for a cnbc news update with

tyler mathisen. >> i'm claiming credit for the dow being up 176 points. new sanctions imposed on iran will be strong and impactful. press secretary sean spicer making that comment during today's briefing. >> i think today's sanctions really represent a very, very strong stand against the actions that iran has been taking. make it very clear that the deal that they struck previously was not in the best interests of this country and that president trump is going to do everything he can to make sure that iran is stayed in check. >> and a majority of the country is dealing with outbreaks of the flu. the cdc reports that 40 states now have widespread flu activity. so far this season, 15 children have died from the flu. doctors still recommend that you get the flu shot if you haven't gotten one yet. ouch. a new british stage adaptation of george orwell's

novel "1984." they say it will open in june in new york, no casting revealed. the book first published in 1949 has recent bely topped amazon's best seller list. that, folks, is the cnbc news update at this hour. back to you two. >> that was quick. that didn't take much time. >> no. >> having a moment, 1984. >> get that stage play out there. thank you. half hour to go before the closing bell. stocks are staging a broad based strong rally. best day of the year for the dow, up a full percent. jpmorgan, goldman sachs and visa had good earnings. >> amazon had a revenue miss last night. we'll tell you what's going on at the ecommerce giant when we come back.

market rallies today but amazon stocks trading lower. disappointing levels last night. amazon is forecasting first quarter revenue that will be below street estimates as well citing foreign exchange pressures to the tune of $730 million. nomura, rbc capital and mizohu among the firms cutting their price targets on amazon stocks. they note amazon web services price cuts. nomura has a $925 price target on the stock. rbc thinks it goes to 900. mizou pegs it at 905. it's trading down at 808 today. >> though the target is lowered,

i would note a lot of the wall street forecasters and analysts did keep with the long term. >> cutting them some slack there. otherwise a rally today. the dow up 178 points. here's the number. as long as it's up 156, it's still the best day of the year so far for the dow jones industrial average. up next, snap chat's parent files to go public. we remember that last night. we'll discuss whether the messaging app's public offering is something you should think about getting in on when we come right back. onlyt&feouve cnn yr

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you've probably heard by now, snap chat's parent company snap inc. filed for its ipo valuing at roughly $25 billion. snap is one of the first unicorns out of the gate for 2017. company planning to go public in march. here at the new york stock exchange with the ticker symbol snap. >> joining us for more, david menlo from secondary ratings. the guy on ipos. great to see you. >> great to see you. >> this offering is one of the most unsettling deals related to

what transformational aspects are going to be further embedded in our society. what does that mean? >> the best way to encapsulate that, if you look at a facebook, facebook tries to establish or they did initially, what are we? this is me, this is who i am. what we have with snap chat, this is who i am for right now, whatever time it is, and that's all people care about. so this ee femphemeral attention is what's going to eat away at all of the other attention spans. the stickiness of it. whether people are going to stay with this application, that's the question. >> two things that stand out, the classes of stock, they admit they've never made a profit. it's likely they won't for a while but that's -- you know, that's usual language inside an s1 and the risk factors but the classes of stock. they're going to issue stock where nobody has voting power at all. the two co-founders maintain

that. have you ever seen anything like that before? >> yes, and every time it is brought up for the 20, what, seven years that i've had this company i say, who cares. if we're looking at corporate governance, you own this, i can't vote, i don't have a say, don't trade the stock. that's the only weapon that you have so i would not obsess about it but it is complicated. the two principles own 88% of the voting rights of the company. and if people don't want that, don't play it. one of the metrics, daily active users, 158 million. it's growing but the rate of growth has really slowed down lately. how big of a concern is that? does it give you flashbacks to twitter? >> not so much to twitter. twitter's a very different company even though it did come into the marketplace losing money. >> and user growth slowing. >> yes. i think what's more important is if anybody is coming up with a

competing product, a subdivision, everybody is saying, oh, what's the next great thing? people start to shift over to see whether it's good for them. >> that stickiness thing you were talking about there. >> that's all it is. >> no doubt we'll be talking before march when they are expecting that ipo to be issued. thank you very much, david. >> thank you. we are heading to the close. 20 minutes left in the trading session here with the dow still up 180 points right now. just one day after we reported macy's may be up for sale a possible buyer has emerged. we'll have details for you on this story that's really driving the stocks next. ar cos li death. foneal is li av18eo ndldthcrosoflp help at neewoetinl e abily tola anw k. whdo tethe

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just getting a lesson on snap chat. >> we were snapping while talking snap. >> the dow is up 186 points. we continue higher here. what is turning into the best day of the year. it's kind of what was shaping up to be the worst week of the year for the dow, now it's pulling it out of the fire. >> thanks in part to financials, industrials, energy joining the party. some retail names moving. neighbor from the north may be eyeing one of the most storied names in retail. cnbc's courtney reagan has been tracking the story and joins us. what's the latest on macy's?

>> there are reports of hudson's bay company may have interest in macy's, whether purchase or real estate deal. both companies have no comment. that's not stopping the market from speculating. hudson's bay chairman richard baker is known to have a keen eye for real estate. starboard value at least valued at $21 billion last year. they've been working to monetize. selling five properties, two general growth properties and entering a strategic alliance to redevelop 50 properties and also sold its minneapolis store with three other flagships up in the air. hudson's bay bought a place valued at 3 million. it bought saks at nearly $3 billion. hudson's bay also bought gilt groupe for $250 million. that is digital real estate.

as for how far along they might be, sources tell our own david faber that there has been only one meeting between richard baker and macy's management where baker discussed the possibility of a purchase but macy's hasn't engaged in more than taking the meeting. they need a partner if they need it. there's a lot of movement and speculation the stocks are moving. >> and a lot of department stores, courtney. this would put saks, lord and tailor, mayy's. >> are any of them doing well or is this just about the real estate? >> that's true plus hudson's bay in canada so it is thought to be mostly about the real estate. again, this is just a potential possibility at this point.

he left several acquisitions with the exception of gilt groupe have been about the real estate. this could be buying the real estate and spinning off the retail operations if they go into it with a partner, simon property group which they've done before. that could be a whole nother structure of a deal. that is a problem, sara. what's operating within those four walls is not doing particularly well. so does it help macy's to be bought by hudson's bay company? i'm not sure. >> i would point out, the stock is up 6% at 32. not too long ago this was a $42 stock. so it's not getting back to those old highs. >> hudson bay hasn't been doing well. >> let me turn you to another story. nordstrom dropping ivanka trump's line. what's going on there? >> what nordstrom tells us officially every year they cull about 10% of its assortment. they take some items off in order to refresh with new items. if you'll ser the website there

are few ivanka trump items. you'll see some shoes. there had previously been much more. there are a number of other retailers that do carry the ivanka trump line. she has said she's stepping away from the business. maybe people don't know that or perhaps they don't care if they are unhappy with the fact that these retailers are selling it. there had been a pretty big social media campaign grab your wallet asking people to boycott stores that sold the merchandise because of those that were upset with the trump family, the president's policies and everything associated with it. >> very good. thank you, courtney. >> tricky one. >> thanks. >> see you later. 12 minutes to go before the closing bell. we are seeing this market maintain its highs. dow is up 190. we are well into the best day of the year now for the dow. s&p 500 up 3/4 of a percent. the nasdaq up half. the russell 2000 up 1.5%. despite this rally, the lindsay group's peter bookmar

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the buy side. end balance of $950 million. that's why we're seeing extra levitation. the dow now up 187 points with nine minutes left in the trading session. here are some of the top stories moving markets. major averages higher across the board on a better than expected jobs report for january propelling the dow back above 20,000. visa, a big contributor to the dow's rally after better than expected earnings from that financial company and the financials overall have been the best performing s&p sector today up almost 2%. >> and joining us now to discuss the markets, peter bookbar from the lindsay group. you wrote the trump honeymoon is clearly over and the market is priced for perfection. that doesn't seem to be what today's action is telling us. >> right. we're celebrating of course a good number. what i mean by saying the honeymoon is over and that the last couple of months -- the markets really haven't done anything since the middle of

december. we'll see what details are to come. i'm as excited as anybody in easing regulatory burden. i think the tax reform is a lot more complicated. i think we need to see how this unfolds over the next few months. i also think if the stock market is right, we're going to get an acceleration of growth, janet yellen will be raising rates three times and i would not discount a fourth time so we'll have this tug of war between tightening of monetary policy and higher interest rates on one side and the optimism of fiscal relief on the other side. >> do you think the jobs report bought janet yellen some more time? the expectations in the market for a march increase plunged this morning after that report came out. >> it did. it's ironic because the mandate is maximum employment and not higher wages. yes, i want be to see higher wages. the fed fund rate is at 6.25%. they are so far behind the curve

and whether the wage growth was 2 1/2, 2.7 or 3, whatever, the fed fund rate should not be where it is. it is way too low relative to the state of the economy. way too low due to the potential fiscal stimulus and the fed is playing this fearful game that somehow they're going to muck everything up if they happen to raise more than three times the share. >> all right. peter, we've got to go. heading to the close. we have to hurry here. thank you. always good to see you. >> thanks. >> peter bookvar from the lindsay group. >> closing countdown. >> after the bell, financials soaring on the financial order to take apart the dodd-frank law. we'll take a closer look at when some of the changes could actually get done. that has to happen as well. you're watching cnbc first in business worldwide. ismy rirem ri rir

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plner titid e ismy rirem i'm s aednvin ves ri rir veste*ad instate is...n st just inside the three minute mark here. what a week we've had here. remember last monday was the worst day of the trading day -- of the year so far for 2017, and today is the best trading day of the year so far. net-net we're back above 20,000. i saw a few hats, down 20,000 hats on the new york stock exchange as we move above that. maybe i should point out also of more importance is the nasdaq

now at an all-time high. this rally has pushed the nasdaq back into record territory at 5664. volatility for the ten-year yield within a tight trading range. let's not get too carried away. today alone a five-day chart. this morning after the jobs report came out a plunge in yields and then we came back. we're going out at 248 for the week. the dollar index continues lower early in the week. we saw that selloff. we held steady here. we're down for the week overall. oil moved higher. there's this tug of war between opec and u.s. producers. one wants to cut, one wants to increase production and it seems that opec's winning that war right now. the price continues higher. good for u.s. producers at $53.85. the vix down today. volatility continues lower, bob pasani. we're back with a handle of 10 on the vix here. >> for all of this movement

we've had, great day, i'm happy transports are down. would he have' got a horrible week moving transports. you know what's flat for the week? >> today save the market's bacon here. >> i want to point out that this is largely a financial led rally. >> five movers on the dow jones industrial average. you'll see here goldman sachs, 10 points. goldman's up $10. now that's 70 points on the dow. that's almost half of the dow's performance is due to what's going on at goldman sachs today. jpmorgan, american express, even visa. visa beat on their earnings. they have no change in guidance. they did very well overall as well. it's the financials and first president trump signing executive orders delaying or essentially blocking implementation at the department of labor act. department of labor regulations. all of that makes a big difference. perception is it's financials in

the long run. there you see what's going on. look at goldman sachs, that's a $10 move in goldman sacks. by itself that will enormously impact the dow. >> thank you, bob. crazy, crazy meet. red cross is ringing the closing bell celebrating women's heart health month. we have a lot coming up on the second hour of "closing bell" here. you and welcome to the second hour of the "closing bell." i'm sara eisen in today for kelly evans. bill griffeth will be rejoining me in just a moment. let's take a look at what has been a strong day on wall street with a record close for the nasdaq. let's show you how we're shaping up here. the dow the best of the big three closing up lmt a full percent. 182 points.

goldman sachs adding. s&p 500 closing up almost 3/4 of a percent. nasdaq ending up half a percent into a record close. the russell 2000 index of small caps doing the best of all of them though leaving up 1.5%. the trump rally back on financials leading the rally after president trump signed more executive orders this time scaling back financial regulation including dodd-frank. we'll discuss what it means for the future of the banking industry coming up. would he have a lot to discuss on the markets. joining the panel, cnbc commentator michael santoli is back. cnbc contributor evan newmark is here and jonathan bell joins us at post nine as well. mike, we had a good jobs report. we had a lot of ceo photo ops at the white house. i mean, a lot of the recipe for rally and executive orders that actually focused on deregulating the banks.

>> last night, sara, we were talking about how the markets want good economic news. it's good news for the market. the jobs number did reinforce that. it comes in this streak of showing that we're in a strong patch economically. globally and in the u.s. the ism tracking it close to 3% for first quarter gdp if you believe the atlanta fed number. the financial regulation, we got people excited. it wasn't about the yields, it was about the dodd-frank dilution, whatever we're going to call this. i will say i consider the market to be pleasantly stuck because today's high in the s&p was 2298. past seven days four times we topped out at basically between 2298 and 2300. so it seems like we have to have something else to numbering us above th -- nudge us above that. >> jonathan, prioritize for us. is it about the earnings, the expectations for all of the executive orders out of

washington? >> first of all, the earnings are strong enough that they are back in terms of long term earnings. after a number of years of zero earnings growth, we are going to have 9% of earnings growth. my estimate next year, 8%. smack in line with long-term averages. reflation. interest rates are rising, wages are rising. right now that's lifting all boats. >> was that yield buying hand over fist? >> absolutely not. a absolutely not. >> evan newmark said it was going to be like this. >> that was trump poking anybody he gets on the phone with, he pokes them in the eye, and that's going to create some degree of volatility in the world. i think the reflation trade is the story. i think that's why, you know, if i had my druthers i'd be over weight actually some of the commodities, gold.

i'm actually less enthusiastic about the financials, not because they're necessarily bad but i think that they've had such a great run already and i happen to believe that the financials are in for a period of commoditization where it will end up like the retail industry. >> let's recap the day in washington. new executive orders and the big meeting with ceos at the white house our eamon javers has reports. >> reporter: hi, bill. sarah and i started out the morning in the 5:00 a.m. hour talking about how significant the heft of this business community was going to be here at the white house. we certainly saw that. the companies represented here, general motors, pepsi, jpmorgan, tesla, all the big names were here today. we had the opportunity to chase some of those ceos out on the street out of the white house trying to get comments. a lot of them left without saying much, if anything, at all to the cameras. the question is what did they

say inside the meeting. of course, the big point of drama was travis kalinick, the ceo of uber yesterday dropping out of this group before they had the opportunity to have the meeting. steven schwartzman talked to andrew ross sorkin today explaining the thinking behind that and some of the tension that the ceo of uber was thinking in advance of this meeting. take a look at what he said. >> i think travis was in a really difficult spot. his business was being very adversely affected. he had discontent among his employees and this group actually takes a lot of time. you know, he basically said i'm encountering just too much in the way of headwinds and would you mind if i stepped down. >> reporter: schwartzman, of course, was the organizer of today's event. he's the one who brought all the ceos in the room. donald trump did not speak with travis kalanick's withdrawal in

the group directly but he did say in some opening remarks that there have been a number of ceos trying to get on the council. they hadn't been down. they're trying to keep it a very elite and relatively small group. this group is going to meet monthly for a period of time and then turn into a quarterly brainstorming session for the president to get ideas about business, the economy, and of course creating jobs, guys. back over to you. >> eamon, i'm curious about your thoughts on this. we watched you live chasing down these ceos as they left the white house. wouldn't you think they'd want to come out and talk more openly about what was being discussed? this is a badge of honor for them to be included in these meetings on this policy council by the president that's led by steve schwartzman and almost all of them came out and gave you a perfunctory we had a good meeting and they were out of there. what do you make of that? >> some of them didn't talk to us. some kept their lips sealed and

stone faced. i was surprised. i was expecting sort of the general platitude thatt you'd get. we got almost nothing from almost all of them so, you know, that's a good question. what would cause that kind of reaction from the ceos. either something that happened in the meeting or just a general sense that they don't want to say anything about president trump at this point because of the political divide in this country. all of these companies sell products and services to democrats and republicans. they're all very sensitive about that. they're sensitive about the power of donald trump's twitter feed as well. you don't want to get on the wrong side of that. >> look at the blow back from uber. >> eamon, thank you. >> jonathan golub, what's the investor take on meetings like this? seems to be pretty positive the more we see the ceos go to the white house? >> yeah. right now there's this huge halo over donald trump as being very business friendly, but as -- you know, as a strategist what i'm

focusing on is the guidance we're hearing from companies. what they're really talking about is how good business conditions are and less about what might be. so i think that right now as much as we think that the market is discounting all of this promise of pro-growth policies, i'm not even sure if it's really fully in the market yet. >> i mean, i think it -- what it does for sure is keep investors focused on the possibility of something incrementally good coming out of policy, but i actually think what that means is it elevates investor sentiment levels. we've had people thinking they're more bullish than they otherwise would be given the move. that could be good or bad. i don't really think you need policy as a great explanation for why the stock market trades here. i think it could be a ticker down the road for good, more likely, but also potentially for negative. >> i think it's ironic that the populus president who came out against the elite basically goes out of his way to meet with elites all the time and tell them how wonderful everything is going to be. so there is an overlay, if you

will, of, you know, it's dangerous if you're a ceo of this group. because on the one hand you're never going to make donald trump totally happy unless you say he's the greatest and he's doing everything right, and at the same time you risk alienating your customer base and investors if you come out and say donald trump is the greatest thing since sliced bread. i think they and donald trump will understand we're talking about a marathon and not a sprint. everything, the media, investors, we're going to deregulate, we're going to -- six months from now people are going to forget all about these meetings and it's going to be what exactly did congress pass. >> in interest and fairness he has been meeting with small business owners as well. >> yes. >> that has been a big part of his initiatives here, too. >> time will tell. i think right now you're in the first few weeks of his presidency. you're going to get a lot of excitement. investors are trying to -- they're simple minded about this. gary cohen, the ex-president of

gold marman sachs is handing de to trump. how can that be bad? that's what they're saying. time will tell, that's what they'll say. the sentiment will fade. >> that's a good point, jonathan. how do you map out a strategy for the markets? what kind of time frame do you see for policies like tax reform and some of the other biggies that would impact the valuation? >> i'm going to take the opposite side of this. evan, everybody decided about two things. less regulation and lower taxes as being the key, but if you look at what -- this is a little bit of what you're saying. this guy is for sure energetic. we are seeing so much. it's almost exhaustion on the part of the press, on the part of wall street trying to figure out what every one of these initiatives might mean, but i think at the end of the day it really is about the fundamentals. the fact that the economy is better. this regulatory thing that we saw today about the financeals, that's what wall street wants to

see, not discussions about health care and borders. so there's a lot of noise in the system and that's going to clean itself out over the next few months. >> do you keep your target? what's your target this year? >> 2500. trade high. looks like i'll do well if the market keeps running like this. >> we will see. thank you for joining us. >> jonathan golub, rbc capital markets. these gentlemen are staying right here. president trump taking aim at the dodd-frank financial reform bill. big story of the day. up next, we'll talk about how the first steps of dismantling the law will affect wall street, bank stocks and consumers. as we've been reporting, job growth surged. find out how much credit president trump should get coming up on "closing bell." then we'll head live to houston, the site of this weekend's super bowl. to speak with nfl greater rel owe

-- great terrell owens on why he thinks president trump will do good for the country. do y sv? 'e on wt soivernsig p

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president trump signed more executive orders one aimed at the dodd-frank financial regulations, one at that new rule that has yet to be implemented governing financial advisers. here's what mr. trump said about dodd-frank. >> we expect to be cutting a lot out of dodd-frank because, frankly, i have so many people, friends of mine that have nice businesses that can't borrow money, they just can't get any money because the banks just won't let them borrow because they're dealing with rules and regulations and dodd-frank so we'll be talking about that in terms of the banking industry. >> and as we've established, bank stocks like the news rallied today. the best performing sector in the s&p. >> joining us now fred lane, founder and managing partner at lane generational of raymond jaynes. terry haines as well, head of political analysis and manager of evercore isi.

gentleman, what do the executive orders actually accomplish and can you see, are they commensurate with the rises that we saw in the stock today or was this largely symbolic? >> i don't think it's symbolic. i think it's all part of a larger fabric. the larger fabric is this is a president, by the way, who was inaugurated two weeks ago, let's remember, pretty amazing. he's going 120 miles an hour. he's addressing a lot of things he said he would table for fiscal stimulus and tax cuts in my opinion. i'm sure he's very conscious that on august 13th, 1981, reagan reduced personal taxes from 70% to 50% which had a huge stimulative effect. i think what's going on here, president trump is doing everything possible to stimulate frankly the psychology of economic expansion. i think we're going to have gdp growth and that's going to drive higher interest rates. >> i was asking, actually --

>> and it's going to help main street. it's going to help wall street. it will help main street. >> i was actually asking about the specific regulations though, the executive orders that were announced today and whether there will be any direct financial impact on the companies? >> oh, i think there will be, indeed. i think there will be -- certainly there's a huge regulatory burden. it's amazing how expensive and how distracting compliance with graham ruddman has been. on the fiduciary rule which was never actually enacted, the department of labor, i think notice has gone out to most financial advisory firms that having the highest possible fiduciary standards is the rule basically. it's the law of the land even though it wasn't enacted as law. >> i hope he wasn't sending out an executive order on graham ruddman. that's been a while ago. dodd-frank is what he was focusing on. >> i'm sorry. >> terry haines -- >> that's okay. i do that stuff all the time,

too. terry, you know, we were talking to senator corker today who's on the banking committee about, you know, donald trump ran on a populus platform to help the middle class. does rolling back dodd-frank help the middle class in your view? >> well, what i think fundamentally is that if you're going to streamline regulations, which is what the trump administration is really talking about, by all means it does because what it means is that you're freeing up capital and that's what i took from the essence of the president's remarks today. people should understand also that, you know, what this is is another series in -- of exec -- in the executive orders that come down in a business sense to the mission and goals perspective. it will take a while for the administration to work through regulations, decide which that they'd like to discard and equally importantly which they'd like to relight because dodd-frank, among other things,

is a law. the administration cannot just decide to scrap dodd-frank in its entirety. these are laws passed by congress directing the regulators to do something. >> right. >> they can do something much more efficiently, that also is all to the good. >> terry, question for you. regarding the specifics underlying dodd-frank, it was up 4%. up $5 billion. destroy the compliance department, not going to totally rework it on compliance now. basically the market says you can prop trade now. isn't that the real reason why the stock went up? >> well, i'm not quite capable of telling you the real reason why the markets think that the stock went up. what i will tell you is that there will still be compliance

programs. nobody's talking about setting fire to dodd-frank and make it go away. you can look at what happened today. you can look at what happened with the confirmation hearings that steve mnuchin went through and they're not talking about setting a bond fire to dodd-frank, what they're talking about is simplifying regulation and reducing drastically the burden on these companies overall. and that's a laudable goal. the market agrees. >> it's just the beginning with the executive orders. thank you both. thanks for joining us today. >> go patriots. >> go patriots. >> no. no. no. >> okay. i'll bet they don't agree on that either. apple reportedly ready to start making iphones in india. when we come back, we'll tell you what the company is saying about that report and what ceo tim cook is saying about growth potential in india overall. and the energy sector up nearly 1% after the trump administration announced new sanctions against iran.

we'll bring you the details on that story coming up.

seema mody has the details. >> doug mcmillan saying the gathering offered an important opportunity to discuss the economy and job creation. the dialogue was constructive and candid ranging widely.

he says, i look forward to continued discussions with the administration consistent with our long standing belief that it's all the better to be engaged in trying to shape solutions than sitting on the sidelines. quite positive, guys. back over to you. >> very good, seema. they didn't want to talk to eamon. >> very substantive statement. >> thank you very much. president trump has said that he wants apple to make iphones here in the u.s., but now the company's reportedly on the verge of moving some iphone production but not to america. josh lipton has details for us. josh? >> that's right, bill. so these reports say that apple will soon have made in india iphones available that apple has now finalized an assembling location in that country. for its part apple is not confirming these reports, only referring us to a prior statement saying we appreciate the con strungttive and open dialogue we've had with the government about further expanding our local operations.

so no official word from k cupertino. tim cook is very excited about this market. when i spoke to cook this week, he immediately mentioned india as a potential growth driver. in q1 he said apple enjoyed all time high revenue. apple's market share in india is low, 3% now. that market is growing relatively fast. smartphone shipments in india grew 18% last year. india is soon projected to overtake the u.s. as the world's second biggest smartphone market after china. analysts are quick to point out potential hurdles for apple in india including competition, affordability and price sensitivity. average selling price of a smartphone there is about 150 bucks, but cook is a fan taking trips to the country and he says that apple does intend to invest significantly there as well as open retail stores. guys, back to you. >> josh lipton. josh, thank you. the apple story today.

what was interesting in the tim cook conference call in apple earnings is he referenced a demon tieization in india which is hurting unilever and procter & gamble. he said, it didn't hurt us. he had a record quarter. >> people not spending cash to buy iphones. >> diversifying. >> wonder if he thinks it's great for apple pay. >> he's been evangelizing about india. >> it's 1.3 billion people. you don't have direct great access to. there's no other pool of people in the world like that who potentially over time could afford apple products which is why also it's a different discussion between manufacturing there and manufacturing here. they don't have to buy access to the u.s. market. >> unfortunate timing with the new administration coming in. >> yeah. >> thank you. strong january jobs report giving a jolt to the market today. up next, we'll discuss whether this is a sign of things to come under a trump administration. and we're just two days away from super bowl li.

i thought it was super bowl li, long island. coming up, former wide receiver, terrell owens, t.o. will tell us who he thinks will win the big game. thhe h t lowtaxe kf worlvaonbu wherthe ced trsponre roe.d in corni

let's take a look at how stocks finished the day on wall street. a very strong day for stocks, indeed. the dow finishing higher by 186 points. visa, goldman sachs and jpmorgan leading the charge there. s&p 500 closing higher by almost 3/4 of a percent. the nasdaq finishing higher by half a percent. that was a record close for the nasdaq. the russell index -- russell 2000 index of small caps there closing the highest of all of them. up 1.5%. fewer financial regulations and jobs orders and a bunch of ceos at the white house seemed to lead this rally. >> volume was good. time for a cnbc news update with sue herera. >> high, guys. a french prosecutor says the luovre museum attacker was a 29-year-old egyptian born resident of the uae who came to paris on a visa. the knife wielding man attacked

five police officers while shouting god is great in arabic before being shot five times by police. police operations are underway in the city in response to that attack. drug kingpin el chapo guzman appeared in federal court this morning. his lawyers are arguing his new york city jail conditions are too strict. the judge did not comment on the conditions. el chapo has pleaded not guilty to drug trafficking charges. bmw recalling more than 230,000 cars and suvs in the u.s. to replace potentially dangerous takata airbag inflators. the recall involves vehicles from 2000 to 2003. you can check their website for the models. wing bowl xxv is in the books. the annual competitive eating contest started the day with 10,000 wings and the winner was bob notorious b-o-b ciao who wofld down 429 wings.

he took home $10,000. that's the winner's check along with a new suv and a harley-davidson motorcycle. for wings. just doesn't seem right. >> pepto bismol. >> lots of tums. >> do we really need a closeup of that. >> do they eat these wings in a specific time frame? eat until they're done, they're full? >> they didn't specify the time frame, but last year's winner ate 429 wings in 26 minutes. >> 26 minutes. okay. that's pretty good. >> but not a record? >> pretty gross. >> not a record today. >> sue, thank you. >> you're welcome. we learned today that 227,000 jobs were added in january. best gain since back in september according to the labor market. >> for more on what this says about the economy and the markets under president trump we're joined now by mizohu's economist steven proscuitto and

chief ee con flis payton and regal. >> what did you think, steve? >> in terms of the payroll number, it fell out with the expectations. earnings numbers were lower. takes pressure off the fed. the labor market number and household employment weren't as good. again, the question of march versus june, move's out for june. >> where do you stand on this debate about whether it really was a trump bump? we've seen the confidence surveys go up. did we see more hiring as a result of the boost in confidence? >> animal spirits are back but i don't think that's what's driving the numbers. the two areas that mr. trump has pointed to most, your manufacturing and your mining and energy, those were drags in the past 12 months. if anything, job growth continues to look really good but it's in spite of the slowdown in those particular sectors. i wouldn't attribute it to trump. i would attribute it to the fact

that this cycle has more room to run in our opinion and that's great for credit sectors in the bond market, that's great for stocks and less interesting to me is the march versus june sort of question. >> all right. steve, on that -- on that question or at least more broadly, not just about the timing of the fed's next move, but it seems like the market concluded with the uptick in the employment rate, increase in participation rate that maybe there is more slack in the labor force and, therefore, janet yellen is okay going slow as she's kind of indicated recently. is that the take away? >> yeah, i think that's exactly the take away. the question of june versus march is not immaterial because you do have the issue in people's mindsets of 2 versus 3 which the fed brought up in their own mistake when they laid out the last move but i think, you know, what we're really looking at now is two. two's not going to upset what's going on in terms of the equity market going forward. there is still a lot of uncertainty that the market has to go through.

it is climbing that wall of worry. it's doing it in a healthy pace. >> is it possible that we hit the 4% gdp growth under trump administration when wage growth is as anemic as it has been? is that doable given what we've seen going on in the economy? >> that's a fantastic question. given what we know so far, the answer is probably no. if, however, trump ends up doing something through dodd-frank or through the banking industry that starts releasing some flow of credit into the economy, yes, we could hit it. if you look at loan to deposit ratios, they're the lowest they've ever been. the entire post war period. you start getting that moving on the up side without getting out of hand, you can get to the 4% number. that's where we have to focus. >> you're not obsessing over whether the fed raises rates in march, june, wherever it is. it's clear that the feds in toerms of priorities is much lower on the scale than it was. they risk being irrelevant to this conversation by the economy at some point, don't they?

>> well, i think that's a good thing, bill. i think we've been fed focused or central bank focused so much in the past six or seven years so shifting to something else, you know, even fiscal policy is a welcome development in our opinion. but, you know, the economy can withstand higher rates. far more important for investors to realize that as was said, there's more slack out there. the cycle is not over. i don't know if it goes on, bill, for four more years, presidential cycle, but certainly we have a couple more years, i think. and thinking in that way rather than always thinking that the end of the cycle is near, which is something we've heard so much in the last couple of years. changing your view. i think that's the most important thing for investors to take away here. >> i guess that's the economic forecasting by the calendar in that case. >> i guess by one -- by one way of looking at it, the fact that it's been kind of a slow stop

and start recovery maybe makes it a longer one, right, over time? the fact that it's almost eight years old maybe is not that relevant versus prior cycles. >> thank you. >> my pleasure. >> we have to leave it there, guys. thank you for joining us. >> thank you. quick shot of florida. president has arrived to spend a weekend at mar-a-lago, his retreat down there. i guess we can call it a retreat. pretty fancy place for retreat. >> palm beach resort. >> the southern white house. >> we're going to wait to see if he steps out here in a few moments. he's had a busy week in washington, guys. hard to believe two weeks into the presidency here. he's leaving for better weather, i guess, from washington, dc. >> i think the thing that is most remarkable to me about the last two weeks in terms of the financial markets is that given the nature of his announcements, given some of the calls that he's had with some leaders, that

the vix index is still as low as it is. it's quite astonishing that the vix is that low given what happened today with iran. >> against the idea that there's anything a namm ma louse about that. why is the vix at 22? we have a very disciplined, very reticent president who doesn't say crazy stuff. that's not what the vix is meant to do. so i don't necessarily see that. everyone's saying he's going so fast. yes, there's a lot of executive actions paced out over days. if he wasn't tweeting all the time, if he wasn't going off at these erratic things, it wouldn't seem like that busy a schedule. i do think it's interesting it seems like he's constantly in the news. >> a lot of the meetings because a lot of them are with ceos. >> only at cnbc would we be looking at pictures waiting for the president of the united states to depart from air force one and debating the vix, the

level of that. i was wondering if he would comment about the amenities on air force one. you've seen pictures when he was making that trip from washington to philadelphia, the republican retreat last week, he looked pretty comfortable behind the desk there, the photos of him on air force one. >> clearly he doesn't want the government to pour any more money into air force one. he's asking boeing for a better deal on the next one. >> for the conversation of what we've seen in the last few weeks, it strikes me how different the tone is with this stroc strong rally that we've seen. two days ago we were talking about is president trump going to be focused on the right things? is he just going to focus on immigration, protectionism, tax reform and deregulation? >> most investors will give him the absolute benefit of the doubt until things go horribly wrong. you know, the stock market will believe generally speaking, that's the case in past history. it will believe what it wants to

believe until all of a sudden it will change its mind. you know, it doesn't seem to be on the horizon. you never know what can happen. you know, he's going to make one of these phone calls and somebody's going to give him an answer he doesn't like but so far that hasn't happened. >> it wouldn't shock me if the vix existed during world war ii, if there were stretches of that period when the vix would have been at ten even though the worst outcome was -- >> the outcomes can remain insulated from a lot of these tremendously impactful events if it doesn't seem to tremendously impact cash flow. >> but the trade issue does. >> it does, absolutely. that seems like it's going to be a policy error, then i do think the market would react if it's imminent that this is going to have a complex border tax. >> we were talking about the possibility of 4% growth and some of all of these pro growth policies. that's the one that economists are worried about. >> there's the reason he hasn't come down yet. she's going to go get him. there's mrs. trump making her way towards air force one and

the limo where he's going to depart. there he is. >> i wonder if he's as tired as everyone else is after the first two weeks of the administration. >> why should he be tired? he only sleeps four or five hours a night and he has all the attention he could possibly want in the world. >> the classic type a personality type. >> at any rate -- >> he's set to be there until monday morning. there's word that, yes, he'll be relaxing and also taking calls and meetings at mar-a-lago as we saw last time at mar-a-lago when some ceos showed up. >> as any president would do. >> usually camp david but we have a different retreat here. >> of course everybody dressed in red today for women's heart health month sponsored by the american red cross. >> as are we. >> as we are, too. there they are in mar-a-lago, in florida heading to mar-a-lago. treasury department announcing new sanctions against iran. we'll have details on that and what it means for the energy sector coming up next. and super bowl li is just two

days away. former greater rel owens joins us on his take and his latest business venture coming up. you're watching cnbc first in business worldwide. and get of are prepared yneetd tire

energy stocks rising today after the treasury department announced new sanctions against iran. john harwood has more on this story. so what does it look like, john? >> sara, the trump treasury

announced today sanctions on 13 individuals and 12 organizations, including organizations with procurement networks linked to china, also to hezbollah. these sanctions have been prepared by the obama administration in case of iranian misbehavior, but president secretary sean spicer said they were triggered by the recent ballistic missile launch that iran behaved in. >> i think today's sanctions really represent a very, very strong stand against the actions that iran has been taking to make it very clear that the deal that they struck previously was not in the best interests of this country and that president trump is going to do everything he can to make sure that iran is stayed in check. >> now interestingly on that deal, you had the national security adviser, michael flynn, release a statement saying that iran is the world's leading sponsor of -- state sponsor of

terrorism despite that favorable deal, however, these sanctions do not involve the nuclear deal for now. the trump administration has given the signal that it's going to preserve that deal and paul ryan in an interview has said that he believes that the iran nuclear deal should stay for now because it's too difficult to unwind it. >> john, thanks very much. no doubt a topic of conversation for the sunday shows coming up this weekend. meantime, the economy of course a hot topic on wall street and in washington, but what about the football field? >> jane wells is in houston with the answer. jane? >> guys, they make a lot of money. do they know a lot about money? up next we talked to the super bowl players about the economy and their investments when we come back. you do all this research

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donald trump sat down with ceos today to talk about the economy. but what happens when you leave the white house and hit the gridiron. i have no idea what that means but what we're getting at is jane wells joins us with the super bowl economics quiz that we all look forward to every year. jane, fire away. >> bill, you're not the only one. you're not the only one who is confused. we changed it up a little this year. not only did we ask them about the economy and stock market but first we asked them about their investments. listen. >> best investment? i bought a commercial real estate building in mountain view, california. got a killer price. >> best investment, tempurpedic bed. >> best investment, football helmet. >> best investment i ever made was showing up here, shutting my

mouth. >> worst investment i ever made was probably in a car. >> car. >> my worst investment, probably buying a '91 chevy caprice that had like -- it was just beat down. >> what >> i have no clue. >> who is janet yellen? >> you. >> is trump good or bad for the stock market? there's no good or bad answer. >> pass. >> it seems like the patriots almost were told ahead of time, do not answer any political questions. tom brady wouldn't go there either. the falcons players did talk about trump saying he is a good businessman. he'll probably be good for the market. >> i would take as a compliment

if someone thought i was janet yellen. >> i wish i had her brains. >> thank you. we enjoyed that. all of us. >> up next, terrelle owens tells us who he thinks will win super bowl li. that's coming up. it thasas thxpthat i ha e

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our next guest never won the super bowl but he did go on to become one of the most celebrated players in the nfl. five time all that pro. 178 receptions, 15,934 yards, 153 touchdowns during a span of his 15-year career. >> by the way, that's off the top of her head. that was not on the teleprompter. >> exactly. when you're married to a 49ers fan, you know this man. >> this man is a god. he is trying his hand in the business world with his own ath leisure line. joining us now is former nfl wide receiver great, terrell owens who was in the induction to the hall of fame for the second year in a row. glad to have you here with us.

what's the atmosphere like in houston? >> it's amazing. all the kids, all the fans. any time the super bowl rolls around, if they can get their favorite team to play in the super bowl, it is already a great thing for the nation as a whole. when your favorite team is in the super bowl, it is that much better. >> tell us about the clothing line that you're introducing. how did you get into that and why this? >> number one, a lot of people don't realize. my mom, this is what she had did when i was growing up to make ends meet. she made our clothes. she wanted us to look good. little did that i know years later, i would be doing some of the same things. whatever she inspires, the life she wanted to do as a youngster, i'm now doing that. bringing those to fruition. i've been there taking my hand

in the fashion in which she wanted to do. she's living vicariously through me. now i'm doing my own clothing line. you mentioned athleisure. it is a line to and from the gym. men and women, crop tops, leggings. it will reflect the career that she rambled off earlier. if you see me as vibrant, charismatic. that's what my clothing line will be. >> it's such a crowded thing. what do you want to do to get that market? >> well, i'm not trying to be any of those that you mentioned. you mentioned the women. what they've done with yoga pants and they've expanded their brand as a life time. lu lu lemon, that's what i'm doing for the male line with my line. i've gotten inspiration for a

lot of those that you mentioned but i want to find my niche. as i alluded to, being charismatic, vibrant, bold, a lot of cutting edge. a the love those fabrications that nike and lu lu lemon. >> you mentioned your brand having fun and being celebratory. the nfl has been cracking down on that behavior lately. is that bad for business? >> well, no. not for me. i think i've been able to establish a brand. i was full of passion. >> that's for the nfl though. >> yeah. >> it's called the no fun league for a reenls. you see guys like odell beckham jr., antonio brown. they're trying to bring it back to life. we're trying to bring better time to the league. this is what the fans want to

see. >> following in your footsteps, i'm sure. we're focusing on your business vent you are. when we have a celebrity on, we like to ask what your biggest money mistake is. what's the worst money mistake you ever made? >> i think it is probably, the super bowl. not being able to really the, the people that i hired, to manage my portfolio. if could i do it again. the time that i spent doing everything else on the side, i should have definitely spent more time being on top of the guys managing my financial portfolio. i urge any of those guys out there these days, athletes coming into a lot of money. manage your money. >> you are not the first pro athlete to say that. you wonder whether the leagues themselves should be providing a little more guidance to you guys when you come in. and you're making that much

money at such a young age. before we let you go, who will win the big game on sunday? who do you like? >> i mean, again. i played against that guy, tom brady. with the patriots. you can't discount what they've done, the dynasty they've established there. everybody is rooting for the underdog. if i'm beating man, i'm rooting for the underdog. i'm expecting the once the patriots. >> look at that. t.o. reading the party line. >> all right. got to go. hey, terrell owens, great to see you. good luck with the athleisure. the sports luxury line as well. >> he's going on get bill belichick to be the spokesman. he needs a very charismatic person for the line. >> with justin bieber.

>> put in my little -- there's a trade there. >> will you put in the patriots plug? >> i'm going for the fal fonz. >> my family is in atlanta. i go for the falcons. >> i just think, i wonder if they'll score 100 points between them. >> have a good weekend. "fast money" begins right now. >> 270,000 jobs. great spirit in the country right now. we're very happy about that. i think it will continue bigly. we're bringing back jobs, we're bringing down your taxes. we're getting rid of regulations and i think it will be very exciting times ahead. we're going to be coming one a tax bill very soon. a health care bill even sooner. and it is really working out.