will be a really close horse race into the stock draft. countdown is on. >> 13% move for your buddy in one day. >> see more of him on fast money at 5:00 p.m. see what i did there >> clever. thank you, michelle, see you tomorrow >> see you tomorrow. >> "closing bell" starting now ♪ welcome to this closing bell, i'm kelly evans. >> we have a new musical director dow is up 181 points, down 103, and nearly 300 point swing, now back 42. we start on the floor with a recap of the seesaw action today. court? >> yes, the major averages have taken a jagged trip, right

we are off session highs and off session lows perhaps restoking the trade war discussion, and they closed a percent, perhaps this gave investors that are looking for selling opportunities a bit of a window to do so. we saw a leg down again around 1 30 the dollar hit three year lows later on, and the dollar fell after treasury secretary steve mnuchin made comments, a weak dollar positive for trade, the weaker dollar pushing up the price of oil and gold, up higher by 20 bucks, for stocks, the nasdaq, weakest of the three averages, that's still holding to be true, and the weakest of the major s&p sectors. chip stocks, specifically weaker

on pace for the worse day since the end of november, and texas instruments, the biggest drag in the chip group, the shares down as much as 9% at one point after an in-line earnings report, but also the slowest revenue growth in a year, causing investors to rethink the prospect for texas instruments. weakness in the tech stocks we watch closely, the faang group, pressuring the major averages. apple down more than 1.5%, and facebook down to three quarters a percent, amazon and alphabet slipped higher the dow transports, though, they are lower again today, too, down 1.4% after united earnings and the plan to increase the capacity to the network pressuring all of the airlines, pulling the transports lower for a second straight day. there's a lot of action to watch, some of it has seesawed back and forth, but there is reasons why we are seeing the moves, phil, back to you >> thank you, see you on the close, and, by the way, we don't have a new musical director, but

a new d.j. on the show >> taking requests >> and they do take requests go to twitter. closing bell exchange, paul is back with us in fairfax global markets, here with us in post nine and keith bliss, and joining us, also, is jack from ucx at the cme keith, i try to understand what motivates the market what moves it? >> the decline of the dollar caused a dip in the dollar, but the dollar is a three-year low, and the market's been going up, so, yeah, what we see -- so i start from the beginning major averages are overbought here and have for two weeks now, and we've been amazed we've not seen a many correction or a pullback nothing substantial, but between 2.5% neutral on the s&p 500 but one of the reason it's keeping up is the dollar

weakness, and oversold dollar and overbought euro is strong patterns >> we have a side bar on this. in washington, briefly, stay there. you have something on the dollar for us what >> reporter: the white house press secretary trying to do damage control here. the treasury secretary commentings rattled the market saying the white house believes in a free floating currency and the dollar is stable she was pressed on the point during the white house press briefing asked if the white house is concerned how the treasury secretary spoke about the dollar she reiterated the talking points saying, again, they do believe that the dollar is stable, they should be the world's reserve currency, free floating, but not giving anymore lee way than that, guys, back over to you. >> all right, thank you. in fact, we have live team coverage on this, and we are outside the white house. you were just in the briefing room tell us more >> yeah, bill, that's right. it was striking there in the

briefing room. sar sarah huckabee-sanders had to reaffirm a strong dollar policy. that's what they said in the country for decades now, treasury secretary mnuchen speaking today, did not take the tou opportunity to talk about the weak dollar, and the president has said over the past year that he feels that the dollar is too strong, and so when huk bckabee sandersfuls asked about that today, she talked about the idea of a stable dollar and talked about the idea that united states has the reserve currency around the world, and that is the official position of the united states, that united states should continue to have the official reserve currency around the world, but a notable departure rhetorically here on the dollar from the trump administration

>> a notable move lower. dollar index below 90 today. thank you. pau paul, what do you think? it's not the absolute move, but about the sea of it, unsettling market, a big leg down here, and breaking the psychological barrier. >> there's a weak dollar there's no question, historical historically, we've always said we want a strong dollar, no matter what the administration did -- >> do we really? >> yes yeah but steve made the mistake this morning of actually telling the american people the truth, which is very rare for a treasury official the good thing about a weak dollar is it's good for jobs it's good for manufacturing, it's good for exports, and it's actually good for a lot of imports because asian products are priced in dollars, and so everything you're buying at walmart in threemonths will be cheaper. there's winners and losers let's not make the mistake >> the if the u.s. dollar falls

much, it makes imports more expensive. >> it will in other places, but not where it's already priced in dollars like in china, and so people are going to go to walmart in three months and things will be cheaper on balance, a weak dollar is good for the u.s. stock market and the u.s. consumer and u.s. workers. >> nobody'smaking any money, though jack, weigh in on this we got not only the dollar moving lower, but rates are going higher is there a -- is there a disconnect somewhere, or is this what normalization looks like? >> bill, you're right on exactly what we want to see. you want to see rates go up, and, in fact, going up where the market's going up, you want to see the rotation there's another take on what secretary did. you know when they talk down the dollar that's when you repatriate a

trillion and a half back home. look, if you're a corporation and want to swap dollars when the dollars are low and you got euros high and the rest of the world high what he said was brilliant i think we're going to feel a big benefit to that over the course of months remember - >> you have to show the guests they are nodding in agreement with you, jack >> and it is remarkable. in fact, you know, i've been scratching my head wondering when they were going to come out and say that reality is, there's going to be a floor under the dollar, with all of the swap activity that takes place over the course of the next few months, you're going to see a floor under the dollar you're not going to see the weakness, but talking down the dollar before you repatriate is brilliant. >> i think steve was talking down the dollar a little bit because they are anticipating trade retaliation coming, and so if we're going to start getting tariffs from the bigger trading partners we export goods to, we have to have more -- >> give our exports --

>> stay competitively priced exports. there's other things with the dollar, too, other than steve or donald trump saying things about it it's a three year low. it department just happen. >> the european economy is going gang busters now by all measures and the ecb -- yes, and the ecb started to reality take the punch bowl away, talking about taking the punch bowl away there's two factors working against the dollar now >> i feel like it could change, quickly, paul, tomorrow, if you have draghi say, you know, we're going to take our time, going to buy a ton more, then you all the sudden thee this dynamic flip on its head, right? >> you might the thing is, that we have no inflation. they came out this morning saying last quarter, its products prices were going down. why does anyone raise any rate in an environment like that. >> washing machine prices are going up because of protectionism >> if you combine protectionism

with the weaker dollar going forward, that could be a toxic mix. for consumers. >> all right leaving it at the toxic mess here >> thank you, guys >> keith, paul, appreciate it. see you later. news alert in the latest fallout of the escalating terror battle, and kayla is in washington >> reporter: it's the issue you raised korean manufacturer told retailers had would be raising prices on washing meres sold in the u.s. thanks to the tariffs introduced this week the "wall street journal" expected the price hikes to be $50 per appliance. lg, samsung, and whirlpool make up the majority of the market, and lg was responsible for 20% of washers sold in the fourth quarter of last year worth noting, we reached out to lg as well as the peers, waiting for comment, and those tariffs signed yesterday go into effect february 7th bill, kelly?

>> all right, kayla thank you. we'll have more on that. >> repatriation debates continue >> stronger than ever. day two in davos kicked off with those comments we are there with the highlights from the all-star lineup today, joe? >> reporter: an amazing day in davos with many of the biggest names in finance, speaking with some on "squawk box" this morning. >> what are the implications of the tax reform bill specifically on citi group? >> a catalyst for spending and investment people are underestimating the impact of repatriation, and not just the money coming back but moving around the world. >> i believe people are raising k compensation now because it's harder to find talented people, and at 4% unemployment rate, i believe it's harder and harder to do it >> our tax system 20 years ago was the same as everybody else over 20 years, it's come down

here we've all known that it is a huge competitive disadvantage in driving capital, grains, companies, headquarters overseas 5,000 companies net owned by foreign companies today. not foreign ownership, but competitors. to be competitive, what people are doing today, which is good, saying we use this to help our people, but the real benefit comes over time. >> how do you get to 4% when you heard the rhetoric from every person and, there are some people, god, i can't believe they don't want to get to 3% >> i said it for years we had 2% growth, which was a low north. it's long, but it's half of normal recovery. we will 16%. should have been 32. the reason for that is uncompetitive taxes, excess regulation, lack of infrastructure building, industry, education doesn't work, and that's why we're growing slower >> are you now happy about the

outcome of the election, or do you still wish the other candidate had won? >> well, that's a compound question >> just a yes or no. >> you know, i don't have to it is what it is i'm very good at, you know, being a risk guy i kind of adapt to the way the world is >> taxes would not have happened >> true. i think the market would be lower, i would be dealing with more regulation, compounding p >> right too much in some respects. >> so happy with the outcome >> annual spirits are out there and a little bit more vile than they would have been otherwise, but i'd say the country might be a bit less polarized, but i don't know about that. >> that has the blankfein family bout bitcoin >> said we were clearing futures in bitcoin for some of our future clients we clear them, we are a prime broker, and so it's our clients are doing it, we'll go down it, but a principle bitcoin business, going long and short

bitcoin in market making, so far, you know, we're not - >> the family's not involved >> i can't speak for all my, you know, for all my millennial children >> the children. >> but the grownups are not. >> anything you see in the equities market, globely, that rises to the level of irratio l irrational >> things going well for a long time, but p, lolook, i feel bet where the prices are now including equities, if interest rates were normalized. >> tomorrow at 6:00 a.m., we speak to ynse's tom farley and ceos of humana and liberty global >> you look familiar >> who was that guy again? >> surprisingly light there this time of day. >> it is >> for davos >> catch more live coverage and big name guests from the world economic forum tomorrow on "squawk box" and excerpts here all is forgiven on some aspects of the past year, i guess, as long as they got the tax cut and

the economy's doing well, and look at the stock market >> i know. i know it's great stuff they said the line continues, and mr. farley is apparently out there getting ready for that >> out there already >> 45 minutes to go. >> and the dow is the lone gainer now >> that's true up 49 right now, but we have a lot of cross currents in the market the other average is lower, nasdaq down 40 >> a lot more ahead on "the closing bell." next up, the great ge debate is this a stock that took a chance on and buy? or is it better to wait? or to run? plus, the two major stories that may take you to a new level, and what the future of golf looks like the "closingel iba ia ash. bl"s ckn

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welcome back, the dow hanging on a gain now, was down 100 plus now we're up 50. everybody else, oh, there goes the s&p, trying to get back into positive territory, would be a record high on this day, but right now, a mixed market.

we mentioned the three year low on the dollar index awhile ago look at oil prices, they are now at a three year high, coincidence? wti crude topping $65 a barrel, first time seen that level since december 8th of 2014 >> ge the worst performer in the dow after missin estimates, and revealing an investigation into trading practices. morgan >> reporter: that's right, as you can see here behind me, shares of ge are down 2% now, off the lows of the day, this is after ge's cfo talked about the investigation tied to ge's capital big massive multibillion insurance charges disclosed last week ge said it's very early and not unexpected given the size of the disclosures last week, but still spooked investors. focus on whether and when, if,

ceo and chairman john flannery is going to break apart of the industrial conglomerate. they were looking for guidance on that, but they are going to have to wait >> we have a team dedicated to consider all the details and look at the options that will deliver the best value for our shareholders in the most attractive jobs for our employees. the truly enduring strength of ge lies in our people. there will be a ge in the future, but it looks different than it does today >> reporter: now, other key take aways, industrial cash flow for the quarter and the year was better than expected, that's thanks in part to deeper than expected cost cutting, and $2 billion the take down in costs this year, and ge also reaffirmed the 2018 industrial eft and free cash flow guidance for 2018 that was somewhat welcomed news for many analysts who anticip e anticipated revision lower health care and aviation grew,

and baker hughs posted better than expected results, so oil and gas overall still a drag, but power continues to be the biggest source of pain, earnings falling 88% in power, and -- yeah, 88% in power last quarter, and the company said on the call today could be worse in 2018 back over to you >> all right, morgan, thank you very much. morgan brennan let's debate ge with the founding part ifound ing partner, at post nine, and grahm copley, more bearish, beginning with you, your note today, it's simply ge, why would you trust this team? so you don't >> i think you got to be somewhat concerned about the earnings miss. mr. flannery had the opportunity to take the kitchen sink on the fourth quarter, and six weeks before the quarter ended, and he

missed the number. which is almost inexcusable. what it suggests is one of two things it suggests he's, himself, either overly confident or overly hopeful, the wrong person to be in charge of the company at this point, or he's fed information from the people below him who are overly confident or don't understand the business, in which case, he has more business problems than he expected, neerither are positive >> okay. scott, you're the bull must be lonely right now >> it is >> but i guess you argue everything's down so much, you can only look higher here, so -- >> it's a great american company, 50% on sale, right? the stock has been terrible. every piece of bad news you can possib possibly imagine today's miss was relatively material, but the sec investigation out of nowhere, it's one bad thing after another. but 16 times earnings with a lot of upside to fix it, i don't see any better risk-return out there

anywhere >> down 88%. >> can it get worse. >> we would have said the same thing last year at this time, right? >> you know, look, the gdp is approaching 4% utilities will make power again. it's that simple ge is 30% of all the fopower an turbines in the world. it was a tough summer and fall for them that's panning out now it's not going to get material >> on secular decline. it's not just ge having problems in the business. >> it's not just ge, but you had a lot of deferred maintenance. the u.s. and middle east are the biggest markets for ge, and both markets deferred spending, and some has to do with the drop in the epa, right, that lingers for the next year or so, but eventually, you have to work on these turbines you have to turn them on and do regular maintenance whether you use them or not. >> graham, our david faber reported in the last couples

weeks here, they are seriously considering breaking the company. good or bad idea >> i think it is an inevitable after what we heard today. it doesn't look like we can get our hands around this properly and manage as one business it needs to be broken in separate pieces. the hard question today is, how do you do that the easiest piece is the spinoff from those with the positive cash flow, but you need the positive cash flow in order to fix the differences that they generate after the cash flow, and if you spun off health care or the aerospace business, you know, the core company would be faced with yet another dividend trust, so it's not as straightforward as it sounds, though probably the right path >> do you think it's the right path >> i think it's the right path, straightforward too. good stand alope businesses that attract their own shareholder base, attractive assets, if run to optimize cash and profits, you'd see huge amounts to the upside these are pushbacks we had on

tyco so many spinoffs, et cetera, a lot of values. >> to the point, what's the spinoff look like? try to retain ge as the better position of health care and aerospace company or one of the two, or do they have to get rid of those businesses because they are better, and what's that mean >> get rid of the stuff you don't want long term the power business is not a growth business. >> who buys the power business >> don't sell it, just spin it off. big enough to stand on its own >> let investors buy it? sell to the public >> there's a lot of upside the business has not been run for profits and cash forever it's a 20% margin business forever, then a 7% margin business, now 11%. i think normal is probably 16% margin, and that's a good business >> you know, when i hear the bull saying is things get better from here, they have to. what i hear the bear say is things are lousy, don't touch

it, but could things get better, do you think >> i think there's a number of businesses within ge that actually have trends, and power is one of them, and with the growth of renewables, growth of sol solar, with the emergence of battery power, the demand for large scale power plants is dropping seimens talked about it, they are making move in the large engineering businesses, and so i think there is a step down in normal demand for new power plants doesn't mean the maintenance and repair business won't be fine, but there's a lower margin structurely going forward. i also think that the age of the diesel electric train is slowing down as well, refleblcting on te future of the ge transport, another business to think about and talked about moving the business out of ge you know, the -- the health care business, the aerospace

business, both strong. the energy business could stand on its own today >> all right there you are. the debate continues scott davis, graham copley, thank you. >> thank you >> thank you >> i own a couple shares, still, in my 401(k) from the days we owned nbc. still own them >> oh, i'm now thinking about comcast. 33 minutes left until the close, dow up 50 points, s&p weaker, nasdaq down 43, and russell is down 9 one of the worst parts of the market airlines today united shared plunged after announcing plans to add more seats, striking the whole index lower. we head to the sector with former continental ceo and former mexican president's reaction as the white house slash tariffs on solar panels and washing machines and talking about the wall and more. when "closing bell" comes right back

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welcome back, big reversal today, and the dow was up, down, and now up 62. s&p is back in positive territory since earning back and forth between gains and losses here here's the sectors telecom neck and neck. weak performs are real estate and technology you're laughing at the song.

>> i am. interesting choice on this one as we watch this market fluxuate today. let's play that out. time for a cnbc news update. >> i was thinking the same thing, bill. all right. here's what's happening at this time, everybody. spacex fired up the falcon heavy rocket in a critical test and could launch in a week or so it's a major step of what would be the most powerful rocket on earth. u.s. diplomat richardson resigned from the advisory panel on the refugee crisis calling it a whitewash. this raises questions about international efforts to deal with the fallout of myanmar's military operations. hyundai recalled nearly 88,000 older cars due to a fire risk including the 2006 sonata and

2006-2011 azera models there could be engine come pa compartment fires. hq hacked by a a 33-year-old canadian and spit out answers before the questions appeared on most users' screens. >> that could be a problem >> that's a problem, yep you're up to date. see you tonight on npr, bill >> i'll be there, host the nightly business report. enjoying it. thanks, sue. >> you got it. 28 minutes left in the trading session here the dow holding on to a gain, everybody else is negative there. heading into the close, but, hey, anything can change, has been changing on a dime today. >> next, a harder landing after united announced the increasing capacity; that's a price war, sinking the whole sector when we come back.

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other way, ge and apple today, and s&p trying to figure out whether it's in positive territory, tough day for technology growth plans raise concerns it could drive fares down, and thereby send profits lower as well phil lebeau is here. >> you have to have enough exposure to even the smallest markets in the united states in order to grow better fares, better profit margins because those are more high-profit margin routes, but if you look at what united has done, and this is the key to the announcement made yesterday, take a look at the steep growth that united has seen or did not seen over the years of 2011-16 look at that down 8%. if you are not adding seats, you're not growing your profit margin, especially in north america, and as a result, united announced last night, look, we are going to be adding capacity,

4%-6% per year and then there's 2019-2020. we had an exclusive interview with the ceo, and he said reactions are negative, but there's thing to focus on. >> not only have we layed out growth and operational stories, but a 25% behavior on eps between now and 2020, the balance for investors. laying out a plan does not mean it's that simple you have to execute, but i think it's great, great for customers, b because customers have a chance to fly >> more seats for customers, but they don't like the idea of capacity up because, ultimately, this is an industry that has a terrible track record when it comes to discipline in terms of capacity and profitability, and as a result, all of the airline stocks knocked down today. we're going to be talking about this exclusively tomorrow with the american airlines ceo, doug parker we'll be down at the operation

center in fort worth, talking about their reaction and whether or not american is going to respond in kind over the next couple years byadding more seats, more planes on those routes where united is adding seattls and planes >> i assume you already have your seat booked for that? >> i've been in the business and covered airlines long enough to know make reservations well in advance. >> well in advance >> that interview should be an interesting one. >> absolutely. >> thank you very much >> thank you >> phil lebeau let's get to seth now from airline weekly and gordon, the former chairman and ceo of continental airlines for more of their thoughts on the matterment gordon, we begin with you. does the share price still speak to the anxiety investors have about whether they can remain invested in airlines today >> i think they hyperventilated. i completely disagree, they are doing the right things, they are

not stupid people, but optimizing the use of the airplanes pfor the growth, and not going into a fare war. that's just probably not going to happen. >> seth, what do you think we all know after the financial crisis, there was a major contraction in the number of routes in the airline industry they circled the wagon they are looking for balance right now. is there room for united to add to their seat capacity right now? >> yeah, and what united is saying, look, it's gone too far. they see it as them playing catchup. look, you know, investors are very focused nowadays on the fault when you strengthen capacity, you squeeze up unit revenues, right? why wouldn't you always just constrain capacity guess what happens you also push up unit costs. what matters is not costs in a vacuum, but the costs between the two. that's where profits come from, you know, what united is saying is that at this point, by growing a little more than they have been growing, they feel like they'll be able to depress

unit costs more than revenues -- >> seth, explain that a select i don't follow what you are saying if they add capacity, that pushes up costs? >> no, it -- >> explain that. >> right it pushes down unit costs. i mean, this is largely a fixed cost industry. you already pay for the airplane no matter how many times a day you fly. on airline earnings calls, when airlines were starting to constrain capacity saying, hey, cutting capacity to squeeze up unit revenues, investors went nuts back then, people thought the only way to make money was to do what southwest did, keep growing down unit costs. now one of the people back then said, hey, trust me, this will work, saying now it's time to shift back and think more about unit cost to airlines. >> you know, gordon, i don't think anybody's questioning the intelligence of this move. it's just the risk factor that they are taking at this point,

and, i mean, you know, it's that old boom-bust cycle that tends to hit the airline industry when they either overshoot to the upside or downside is that what is being risked here >> well, bill, i think those things they can adjust if it's not working, it's not locked in concrete, you adjust capacity by putting the aircraft out of fleet, not utilizing the airplanes you bought for growth. what i think is they use the airplanes more wisely. operating the better connections at hubs that they try to to fit into the schedule, optimize revenue without changing costs those are smart moves united's making i wouldn't worry about the four big boys getting into a fare war. >> seth final question to you. i mean, we have seen u.s. carriers start to look like european ones, super low costs, no frills, charge for the add-ons, push down what the big four can charge.

are we -- is this actually us sees effecting of that working, do you think >> partly, although, what's interesting, kelly, and i don't know, what i would have expected this time around is through the agreement, it's put more pressure on those, what are called ultra low cost carriers, because they went on price, so when they were higher years ago, you know, spirit could get people to fly spirit who didn't want to fly spirit by being really cheap, whereas now everybody's pretty cheap, it's forcing them, spirit, allegiant to play an away game delta is putting pressure on them, but everybody is doing rather well right now. >> all right good to see you both thank you. seth capland, gordon, thanks as always >> thank you >> fascinating discussion. >> yep 18 minutes to go into the close. dow's still in positive territory, and the others are weak today, especially the nasdaq for the second day in a row, and, no, actually -- sorry,

nasdaq yesterday was a strong performer on netflix earnings, today another story. >> the russell's lagging as well >> down 10 we'll talk about the major chip maker getting slashed with fines ai and impact on apple. first, dom chu is in orla o orlando, forcing him to look at golf and technology. dom? >> reporter: i mean, it's -- phil, i have to tell you, kelly, a huge move here augmented reality, virtual reality, looking at golf courses in my lenses right now, and this could be what is golf of the future more on that story with a big ceo and his vision after the break. keep it right here on "closing bell."

so, how's it going? well... we had a vacation early in our marriage that kinda put us in a hole. go someplace exotic? yeah, bermuda. a hospital in bermuda. a hospital in bermuda. what? what happened? i got a little over-confident on a moped. even with insurance, we had to dip into our 401(k) so it set us back a little bit. sometimes you don't have a choice. but it doesn't mean you can't get back on track. great. yeah, great. i'd like to go back to bermuda. i hear it's nice. yeah, i'd like to see it. no judgment. just guidance. td ameritrade.

the nasdaq is moving lower right now, down 37 points, down a half percent i just noticed that the texas instruments had earnings last night, the big loser in the nasdaq, down 8%, american airlines right behind it, and we just talked about that, down 5.7% against the tide now is netflix, there it goes again. another 4% >> meaning 14% in two days on top of the 18% gain going into the earnings report for this

year fornetflix >> dom chu is in orlando >> the future of golf could be as simple as a tire in a shirt like this that rickie fowler wore untucked, a change in apparel, and virtual reality goggles, v-golf, later on the show, we'll talk augmented reality, virtual reality goggles, and on for a company with genius call, that's a microchip in there tracking all kinds of things. let's talk more bout the future of golf, where it is today, and it could be in the tomorrow's world here, bob is the ceo of this, and he's here with some youth club technology. thank you so much for joining us here on cnbc >> absolutely. thank you for stopping by. >> what's about golf clubs in the future key for the connected golfer >> here at the show, it's about innovator guys, and everybody's talking about heads, multimaterial, and we got the

longest straightest iron here in the king f8, and for the first time ever, we have the first fully set connected of smart golf clubs, so here we got powered by arcos, great friends in technology here in the grip today at torrey pines, 300 volunteers help fowler track his game we put it all into the butt end of the grip, and so everyone can participate, share, compare, and get better they will be able to get their strengths, their weaknesses, and, again, track their game, and we think it's part of game enjoyme enjoyment. >> data drives this as well as technology from a broader base as a golfing ceo, what do you see as the future of golf >> it's all about game enjoyment. on the puma side, it's look better, feel better, play better, making stylish stuff, what you mentioned, rickie won, and take on the club side, more data, more information to help the golfer, again, enjoy the game we think that data helps them practice better, practice smarter, and, again, strength and weaknesses, being able to

share and compare with their friends, be social with all that, and we think that helps them enjoy the game, and we think that ultimately leads to more rounds. >> all right more rounds, obviously, what it's about bob, thank you so much for joining us here on cnbc. appreciate that. we have more stuff to go through here, but exciting show, bill, kelly, bill, i wish you were here, so many fun gadgets. you'd have a field day >> oh, man, you knnoknow me, i wouldn't get out of there if i was in there thank you very much. >> you got it. >> by the way, he mentioned that one company there, stock's up 1% last i heard >> not too shabby. >> and callaway up 1% right now. anyway, that's had a tough road the last several years, coming back right now >> look at the dow now, up 77 points >> mentioning it now art cashin said the markets show a balance of a buy side of a billion dollars. we are seeing the impacts right

there, at least for the dow. >> a good number ten minutes to go, up 81 on the dow, s&p positive by three, russell down nine. coming up, which company just landed in hot water across the pond with apple. speaking of apple, the company's making moves to stake its claim in the health care space. we'll explain why your iphone may play a role in your next annual checkup coming back your friend @just_marea. you like her. she's really good at social media. she buys stocks in companies that "stand for something." you like her. she's always up on the latest trends. she got in early on the whole goat yoga thing. and her sunsets are always #nofilter. you like her. but you'd like her better if you made more money than she does. don't get mad at @just_marea. get eátrade.

qualcomm hit with a fine by european regulators, josh lipton has the story today, josh? >> reporter: kelly, qualcom tangled with regulators around the world like china,korea, an taiw taiwan, and now it's the eu's turn, hitting them with a $1.2 billion saying they prevented rivals from competing. saying they paid billions of dollars to the iphone maker between 2011-2016 so that apple could exclusively use qualcomm's chip sets in iphones and ipads, denying consumers and companies choice and innovation. eu antitrust chief weighed in on

twit r saying the illegally shut out rivals from the market of lte baseband chipsets over five years. misuse of dominant position. don't. qualcomm said in response, strongly disagree with the decision and immediately appealing it to the general court of the european union. the chip giant says the decision does not relate to the licensing business and no impact on ongoing operations, and analysts point out that $1.2 billion represents less than 5% of the company's net cash balance, still, this is one more challenge for qualcomm, having their hands full with a hostile takeover, and now going head head with apple, how much apple should have to pay qualcomm for patented technology. phil, back to you. >> all right, josh, thank you very much. now apple is making a move in the health care space.

cnbc.com broke the news earlier today, that apple is working on a service to allow users to view their medical records using their own personal devices, so, christina, i mean, when i first heard that, i think about privacy concerns and hacking, anybody else talking about that? >> absolutely, bill. this is something that we've been hearing a lot today since apple said we're not just bringing data like fitbit steps to your phones br, but we're do things like lab reports and immunization records this is seriously sensitive health information, but the company stressed, made very clear they don't want to be a data broker. they are not going to be looking at the data or selling to advertisers. it's about arming patients with some level of control over their health information if they have not had it before. >> thank you cnbc.com closing countdown coming your way with the dow up 69 points right after this.

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with the dollar, i guess all the way down 100 points, a 280 point plus trip on the dow, and now we're back up, the magic hour again, up 77 at this time >> the dollar index hit the three-year low you have, of course, the secretary saying that, you know, the dallaollar's lower. trade, certainly, on their minds there going to davos here to talk about it. any coincidence that the dollar index is a three year low and price of oil is a three year high >> that is true. check out gold, higher by twenty bucks, that, too, the movement in the dollar trade. >> taking us back to september, i think, it was, when we saw those levels now we get earnings coming your way in a bit here, and reporting tonight, we got ford, las vegas sands, f5, and whirlpool >> still watching chip stocks because we just heard from josh

lipton about qualcomm, and texas instruments down at one point, and it was a big drag too. >> will whirlpool raise prices on washing machines? lg did find out coming up on the second hour of "the closing bell" with kelly evans and company. see you tomorrow, kell ♪ >> thank you, phil, and welcome to the closing bell, everybody, i'm kelly evans, and the dow closing in a record high today with the 55 point gain, but what an up and down day it's been, the dow up 181 points, and we were down is 100, but it's been choppy in the s&p, they did louis, slipped into positive, negative territory on the bell, and s&p down a point, and the dow up about 55, and nasdaq, big time going the other way, dropping down to 7415, about

two-thirds of 1% decline same for the russell, closing under 1600 today a lot of earnings movers push the markets around we have more big names reporting after hours. phil lebeau has ford results contessa brewer that has las vegas sands, and jackie is monitoring whirlpool, else interesting given what happened with washington and those tariffs today. see you in a moment, thank you joining me now, our senior commentator, michael santolli, and asset management, and josh from the advisory group. welcome, one and all topping the dow, verizon, goldman up there as well, and ge did trail after its earnings report, down another 2.5%, and over on the s&p, the granger was the big leader, and united contental lagged big time, down 11%, taking down the airline sector with it the transports down today, mike, and the industrials up, the nasdaq weaker, and is this all

just earnings noise? >> a lot of to and fro earnings are the catalyst for the groups, without a doubt, the transports and nasdaq, seemed to be the semiconductor group, taking the opportunity to texas instruments, slight disappointment, to pull back, so, yes, earnings, but, also, the macro inter asset, and bond yields are going up, causing people to think, i wonder whether the market in various ways are stretched in one direction with dollar weakness, stocks going up north. >> big move in the dollar today, just real quickly, why is it a name like all the sudden if you miss earnings, you are down 9% i mean, closed off the levels, but that's not a market giving -- i thought we were giving everybody - >> better than down double digits >> yeah. >> the market has been up there, out on a thin limb, and i think that's -- i mean, not to say it's vulnerable, but when the markets are trending hard in one

direction, that brings expectations that much higher. >> last night, howard marcs reiterated i'm convinced easy money has been made. what do you think about it >> it's an exciting time we're waiting for the impact to impact us. pulling the market because because there's no impact? or is it going to be a first chance for earnings to really expand and probably come back down, and then it's not easy money. the next three months, one month, three months, exciting to see how that plays out >> josh, whatwatching. >> dow is due for a 5% pullback. it doesn't stop my bullish theme. we'll see dow 2 t9,000 by the ed of the year, but rsi is the highest level seen since the dot-com bubble we're entering the melt up phase. people want to make money, they are exciting, getting on the trump trade, people with hordes of cash on the sidelines are bringing it back short term, all this uncertainty and things that you mentioned do

symbol a pullback. that's naturally and technically necessary. if we fall to the 200 day moving average, a 12% correction, i think that's going to be a bit too much, but i think you can -- >> i'm not asking you to call the exact percent of the market decline here >> no, no, not at all. >> talk about the dollar what's going on there? attributable to the weakness >> today, i think that was a pilon factor right? had a weak trend, people crowded leaning against the dollar his comments, essentially were, you know, one of those things where it is what a lot of treasury secretaries think, but this one said, an excuse to get heavier in that direction, but it's not just about that, the fact that the entire world is growing, and when risk appetites around the world are high, the dollar tends to suffer from that, and if you just think about where the central banks are out, the fed is much further along in the process than other central banks normalize. it's weird to say even though

the fed is hiking, it's not benefitting the currency, but that's where you are in relative participa parts of the cycle >> we have not seen the dollar index below 90 in several years time maybe it's the wrong side of the boat, and maybe you change this thing, so how do you view a weak dollar >> a positive. think about american companies and desire to be a greater exporter, greater manufacturer, and a weaker dollar is not the worst thing. a brush fire on the dow, that's not terrible either, but if we stay the course and weaken, but multiple nationals, a tax cut, increase overseas growth, that's a positive as long as it does not weaken to the tune of another 10%, we're okay >> right >> that would be bad >> earnings are crossing las vegas sans >> beat the estimates at 88 cents versus 77 cents expected

revenues beat by 3.44 billion, and they expected 3.27 billion you can see the stock right now is up 3% after trading we have seen some softening of the stock priceprice, but up 12d 90% of the revenue is driven by mccow, seeing big growth, 20% year over year, and we'll continue to look for that revenue conference call coming up shortly kelly? >> thank you >> more than 3%, as she said, mike, watch all the casino stocks now i thought we just sold off a week or two back when the q4 number - >> modestly, and las vegas went vertical after that. it's a boom play among other things, it makes sense, but up after hours and the fact the stock was up enough year to date going into it shows you the numbers were good enough

beyond the whispering. >> not slight, but an 11 cents beat on bottom line, and revenue beat was by a healthy over 100 million. i didn't hear anything, per se, i think wynn made comments on tax reform, and handing that back to employees. nothing yet from las vegas >> we have to look for that. >> any thoughts, guys? >> if you believe in consumer strengthening, globally and domestically, and get to a situation, where, wow, now increase the wages, low inflation, overseas and domestic, it's a win for that industry i don't think this company compares to traditional casino stocks because they do so much in that context, global growth, it's a name, to me, opportunity to buy here relatively inexpensive. >> wynn's up 1% after hours. >> so a little lift there. again, all looking >> i think, also, it symbolizing the growth and stainability of the chinese academy, and there's just a china boom coming that people just want to be a part of you look at naspers, ali baba,

everybody in on it, spending disposable income gambling >> is there a china boom coming? interesting question >> i think it's been here. you know, chinese stocks are up 50-100%, depending - >> because consumer -- it's done great, obviously, industrial sector a strength there. >> look at we chat, that's surpassed apple pay in china there's massive -- look at etfs that are on fire, china a shares included in the mci, i mean, we have room to run in china. i think that's a hidden gem within the las vegas sands story. >> on the other side of it, the least impressive is vegas. is that the opportunity? meaning the u.s. consumer, higher wages, more people working, come to vegas after the all the terrible things that happening spend more, driving revenue higher at golf, restaurants, spas, and gambling?

>> that's what people listen for on the call. shares up less than 3% still let's get to jackie for the earnings >> a big beat for f5 nerkf5 net. 523 million in revenue, and nongap eft, $2.26, 22 cents higher than expected gie guidance nongap, 2.24-2.27, blowing out expectation at 2.12, and similar situation on the revenue for the second fiscal quarter, 525 million beating the expectation. f5 makes products to ensure applications are secure and performing properly. we'll hear more about what it is that made this a standout quarter. you can see the stock is trading higher >> higher by nearly 5% jackie, thank you.

yeah again, i mean, what we saw in las vegas, a bigger bottom line. >> a laggard stock on the comeback trail for the last few months trading up after hours, now basically last march's high. seems it's been a lot of these tech names where it's just good on top of good this one seems to be still earning back a little bit of the benefit of the doubt on the street >> by the way, the semiconductors were the weaker performers we talked about the texas instruments. f5, guys, a different story? >> well, you have a stock that's a big player in the ad space, right? the dominant player. the hardware space, a little concerning there's a lot of income there, but this number proves a strong model, like it was not this good, but they outperformed here, cheaper than the overall sector, a chance to make money now, more than expected. >> shares up 6% right now. interesting today, decline in apple, the concerns are the suppliers. >> yeah. >> reignited this, you know, how big is the deceleration,

especially in the phone sales for the quarter. >> general theme on apple is the stock's going to pull back from all-time highs at some point, and whenever it pulls back, there will be a story out there that says, iphone demand slowed, because there always is. not saying you ignore it, but when the stock is down, woah, why is it? oh, now they are going to discontinue the 10 instead of discount it down >> right >> always noise surrounding it >> yep >> we'll see i don't know it's more than a one day thing. >> this is the reason it's down. i got the 10, all excited about the face id. i use it, it's great i found out, if i take your face and you figured out my code, you get in there's no real extra added security i want to see them enhance i was so ticked off with my iphone x when i bought it, i called apple, and i said, is there anything to do to lock the digits to make face id the lone protection no, they don't allow that. so where is the added security i think if they get the face id

right, i don't think they should scrap the effort, but resign >> think about it as a convenience, not a security thing? >> it's a cool convenience >> i like that, but if you talk about people in what we do, high access to secure things on our phones, it would be a great growth opportunity for them if they could get face id to be really an encrypted technology it's just a cool thing to us you can see growth there, but, also, doomed if they don't get it right, and there's been a report that the back lit screen of the oled is causing headaches. people vomiting. i get sick when i'm driving around in cities >> looking at your phone while driving around >> that may be a problem >> that's a problem, my friend >> no, i'm not driving i'm driven >> oh, i see >> by a taxi driver. a taxi >> giving you a hard time. >> the other side of it, they work hard at bringing down the amount of impact iphone has on the total revenue. >> yeah. i was going to say, we're

getting news from washington, i just want to pause for a moment here, president trump actually speaking just moments ago in a meeting with mayors, and we have the highlights >> reporter: that's right. the president made remarks here at the white house, talking a little bit about a couple of economic points to bring to you. first, on infrastructure, he says that he's looking at a $1.7 trillion infrastructure package, high er than what the administration's been talking about before, so we need clarity on exactly where that number comes from, maybe we get it in the state of the union address next week. he also says that on the economy and stock market, he says if the wrong person came into the office, he would not believe him, but down 30%. we'll hit 4 soon, and then 5 in terms of economic growth each point means 10 billion jobs the president here also saying he spoke to tim cook of apple, a president very enthusiastic about the companies that have been making announcements paying bonuses and hiring and investing in the united states that's a trend the president says as a result of his

policies, enthusiastic about that they want to here at this white house move from strength to strength now under the infrastructure package the question is whether or not they need to be able to get conservatives up on capitol hill to endorse the big spending package. we'll see what the specifics are as the white house rolls it out after the president returns from davos davos later this week, kelly? >> thank you p intere another issue raised, mike, when he said, there's no fiscal discipline when they wanted to get the tax bill passed. is that criticism putting pressure on republicans not to do infrastructure? just feel like it's worth doing, but going for it, and just deal with the fiscal issue down the road >> $1.7 trillion, who knows where it comes from, total spend to catalyst, there's not a chance they get that in my view out of the actual budget process in congress, but we'll see if they can structure something it's hard to calculate the politics of it to see if republicans want to go out there

and say, look, now we're also trying to do infrastructure when you can really just kind of say, we got taxes done, take the strong economy, be done with it. >> starbucks, latest example of a company saying tax reform, we hand out bonuses, stock grants, and sick pay for workers what do you think about the president's comments, if it were not him, by hillary clinton in office, we're down 30% on the market >> i don't know if presidents have that much of an impact on economy. policies try to, but at the enof the day, the economy's a cyclical -- we had a strong economy for a number of years, low interest rates, low inflation, a by-product showing up tax cut help it's exciting. all the companies are showing what they do with the money. does it translate into bigger earnings and stronger market time will tell i can't give the president all the credit and plus or minus >> if we had hilary, there's no

tax reform >> that is true. that is true >> fair enough we'll let you go, thank you very much for joining us. before we go, let's hit the ford results, phil lebeau >> kelly, remember, just last week in detroit that ford preannounced their earnings, gave a much smaller lower range. ford is out. the numbers surprisingly fall within the range, earnings of 39 cents per share, a little lower than renewed estimates, although many believe it's going to be lower, 42 cents a share, roughly in line with the lower guidance, and automotive revenue better than expected at 38.5 billion versus estimate of 36.9 billion. the adjusted pretax profit of 1.74 billion compared to a year ago when they were at 1.86 billion. two notes before they begin their conference call a little later on this afternoon. first of all, automotive margins, gets to the heart of the problem for ford, 3.7% of the the automotive margin in the fourth quarter, and down 2%,

well below where they want to be, north american margins up 8%, should be 10%, and this speaks to what they call their fiscal and financial fitness they need to be a much more efficient, better-run company. they believe that'll push their margins higher we'll hear more from jim on the conference call about that, and in regards to new vehicle launches, 2018 begins a string of years where we will see an increase in the number of launches, 23 new vehicles coming this year compared to 11 in 2017 again, the conference call starts at 5:30 this afternoon. >> 23 new cars, wow. thank you. ford up 1%, now half that. we'll have more instant reaction to all the earnings coming up on the "closing bell. also ahead, energy surge, why the commodities and stocks in the sector have suddenly come alive, and can the run roll on plus, mexico's former president with some tough words

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a three year high, brent hitting and closing over $70 a barrel these are significant technically because the levels are key, and not only have they tipped, but they breached and held the move lower in the dollar today, certainly, part of it, that was the main reason the whole complex rallied, actually, but there were a couple factors as well to have oil potentially move higher from here. concerns over political strife in places like iran and venezuela, taking supplies offli offline, a game changer, and optimism in the market place that global demand picks up enough to absorb excess supply is a sea change from the overarching view last year eia reports, you can see a trend uptick in exports, and that's particularly the school of thought right now, that is

bolstering prices. back to you guys >> thank you potential investor plays in the market raymond james, thank you for joining us, there's a big piece -- flip side of the weak dollar, so where do you think are the best places to invest in the energy space right now >> so look with brent that's $70, some of the easy money has been made and dollar's helping in that regard, and for the record, our forecast for this year is basically where we are today, $65 of uti, $70 brent, and that said, from an equity standpoint, if we set aside the commodities for the moment, you know, energy is less than 7% of the s&p 500. five years ago, that number was closer to 12%, so the whole sector in terms of the equities rewried down in a big way. >> right >> it is coming back alive you know, there's clearly some

sector rotation back into energy, but this is, you know, the time to start getting more selective, and we certainly would not be buying everything >> cut to the chase here let's cut to the chase here. we want to know. be selective tell us! what's your favorites? >> okay. so oily ideas for you on the large gap side, oxidental, a great return dividend aspect to it as well, mid cap, marathon oil, mro, got some permian and balkan and quality international soldier as well, and on the small cap side, cosmos energy. now this is about as oily as it gets 100% brent crude in the production mix, all of the stocks have run up, but we think they have room to run, and on the other hand, on the short side, you know, because it's perfectly reasonable to, you

know, start selling some winners here, ec, the most overbought oil stock in the world today everybody who is listening, look at ec. if you own it, take some profit. the other one that we would use as a source of fun, not necessarily on a short, would be exxon. it's expensive it's also very sensitive to refining, and chemicals, it does not give you the kind of leverage to oil that we're looking for. >> seems like the general sense of this oil rally is, yes, up 20% whatever in 12 months, but it's not yet in a range that seems to threaten anything like demand or slow down in consumer spending or restraint in economic activity. will we will in the sweet spot for a while? when do we get concerns about things like that

>> yeah. you know, our view is current oil prices are sustainable, you know, for the next six to 12 months now, long term, we probably fear lower, you know, closer to $60 not so much from the demand standpoint, but, you know, the fact of the matter is the u.s. industry and some other non-opec countries like russia comes to mind are going to be able to bring some supply back online. remember, the opec cut get unwound next year, bringing back some supply, so, right now, there is a bit of a goldie locks scenario i agree with you medium-term, it should be, you know, in the 60s, but maybe leaning a little lower from where it is today. >> okay. i heard what you said about exxon too. calling them a source of fun, that's an insult yeah, that's a dig that's a dig thank you for joining us appreciate always.

a lot of good stuff in there there's a civil war in one of new york's biggest hedge funds, and it's very future may be at stake. that story's next. the form president of mexico not a fan of the president's plans right now from nafta to the wall he's with the closing bell coming up. i think we should do that meeting tomorrow. well wait. what did you think about her? it's definitely a new idea, but there's no business track record. well, have you seen her work? no. is it good? good? at cognizant, we're helping today's leading banks

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obstruction of justice charges, there's a new controversy. lesl leslie >> kelly, that's right end of last year, it looked like the past was finally behind this, the tide slowing, returns improving, and the succession plan in place. 34-year-old jimmy levin, recent p promomented to cio could take over the helm of the firm, and now the future of the company is in question. daniel started the firm a quarter of a century ago no longer wants to hand over the reigns there was a note to clients informing them of the about face now, what happens next is the subject of a story on the front page of the "wall street journal" today, and nbc has verified many contents in the story. according to the wsj's reporting, he believed the protege was too on tunis tick,

and he may not want to lose him all together after being embroiled in civil charges related to the foreign crook practices and acts, they looked forward to a new chapter at the firm, and jimmy was largely seen as that future. if he leaves, some clients may follow dealing yet another blow. public market investors did not like the thought of that with the stock down more than 7% today, guys. >> i wonder if that's the management down from the peak, do you know? >> about 50 billion dollars, as recently as 2014, so in a matter of three years, because that was just at the end of 2017, we are looking at it being cut in half. >> you points how it's difficult to transfer to the second generation outside the founders of the hedge funds it's a chronic think in the industry >> trying to build the brain it take over. >> exactly a computer to do it. >> exactly

why do you think that is there's others that -- i mean, try to think of examples, who had a more successful handover to the next generation we are still dealing with the guys who started - >> almost all founder run. zpr rig >> right we tried to think of one today, hedge fund manager successfully transferred the reins of the firm and the firm grows after doing so we could not think of any examples >> look at george sorros, he leaves, but the firm is a family office, and does not have the ambitions to grow. >> tiger global, adifferent approach to how you feed and grow the next generation, and that's had challenges too. >> or other private equity firms, for example, which has taken to the idea of diversifying their strategy so it's less of kind of a founder-visionary approach and more, you know, getting into real estate and infrastructure and getting into credit and things like that we're seeing that too among hedge funds, but pure succession is something not done very well very frequently. >> och-ziff the latest case. thank you very much. here's a look how we

finished, dow positive closing a record high, up 41, down from the 181 we saw earlier the nasdaq down 45 today names moving on earnings after hours, earnings moved the markets. ford down two-thirds of 1% f5 up more than 3%, and whirlpool just crossed, now down 3%, reversing some of the gains on the session today in fact, let's talk more about whirlpool's earnings with the results out here's more. >> walking through the numbers quickly. on the top line, 5.7 billion in revenues that was light etf at 4.10. 11 cent beat on the adjusted basis. 2018 etf guidance appears to be light. look at where the stock is trading now, you see trading a little bit lower at this point, and, of course, as you brought up the main point before, would

not impact this quarter, but potentially impacts quarters coming up. if the company gives guidance or sense of what to do, as a result of those tariffs imposed on washing machines coming into the country. lg raised their prices interesting to see what whirlpool says about that. >> thank you down 5%. >> it's a tough business, which is why maybe they needed a little help on the trade front, and it's been very much a range bound stock. you think with housing-letted stocks from all sources ripping off all year, it's been held back >> great point watching it, of course now to the news update at this hour, sue, hi again. >> hello, everyone this is what's happening at this hour larry nassar, ex-usa gymnastics doctor sentenced to 175 years in prison 150 women testified that he sexually abused them before the sentencing, he apologized for actions, but the

judge was not moved. >> i'm giving you 175 years, which is 2100 months i just signed your death warrant. >> two of the three judges on the appellate court decided to uphold the corruption conviction on the brazilian president that could bar him from running in october's election alexa is predicting the philadelphia eagles will win the super bowl over the new england patriots if you ask her, she replies, i'm flying high with the eagles on this one, end quote. keep in mind, last year, she picked the atlanta falcons to beat the pats. not a good track record so far >> why is she weighing in at all? >> that was my question. i do not know. i do not know. >> remind people, they don't actually know everything you know >> no, they don't. >> can't take everything they say at face value.

>> who wouldn't reflectively say the pats are going to lose two years in a row >> yeah, no. sue, thank you >> you got it, guys, see you tomorrow >> the chips taking a dip today, semiconductor stocks with the worst days since november 29th we'll hit the sector and bigger movers next. mom and dad got a new car... with the extra third row of seats. they think it's theirs. look at them, they have no idea! it's not theirs. it's mine. mine. mine. mine.

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welcome back today two in davos. a beautiful day guys >> real benefit comes over time. competitive taxes have more capital, more jobs, more coming to invest here, more foreign investing here >> i really like what he's done for the economy, and i think he's gone out of his way to be very supportive of the system. >> all hitting new highs, new records across the board, ge miss with the fourth quarter results. >> our responsibility is to reshape this company and ensure ge matters as much in the next century as it has in the last. shares fell during the call. >> nothing yesterday talk about

pricing and price wars at all, whatsoever we talk about responsible growth, strengthen and fortify areas of our business that have been weak since the merger >> losing steam, up triple digits earlier, down by 88 points >> the dow closing at a record high today, with the 55 point gain as we go out on the bell here, but what an up and down day it's been. >> indeed. how about the semis? took a hit today, down more than 2% since 2018 began, a couple days ago, the sector up 9% is this an opportunity to buy, a sign of something worse to come? joining me is fast money trader pete, pete, where's your partner in crime >> well, a little difficulty getting over here today, but he's on the way, and i think he's in the building, but not going to make this bit >> we'll remember this, tim. you get all the glory, pete. >> that's right. >> what do you feel? what do you think about the chip like them? don't like them? >> absolutely love them.

when you think about what they did this year, look at the facts, smh, they had an absolutely monster run, 52-week run, year to date run, whatever you choose, texas instruments, i think, they basically just did not deliver enough, and that pulled the semis back today. they were down about 11% i think the opportunity there is, if you have been waiting for an opportunity, look what nay did in automotive. look what they did in industrial they got some strength of texas instruments. look at the pullbacks. they said, if it pulls back, i want opportunity you get 11%. it's back to where it was weeks ago, and i like the valuation levels right now, and i still think they have plenty of growth i know the forecast was a little weaker than people thought, but looking at all the semis across the board, it's part of the rotation that we've been watching, kelly, for a long time, and i think today, just the rotation out of some of the names. >> pete, if a well-managed, well-situated company like texas instruments could not deliver quite enough, does that tell you anything about the cycle just doesn't have enough oomph at

this point >> just look at it this way, quite honestly the way we have to break it down is what have these stocks down over the last month, three months, six months, year when you look at that kind of a big move like we've seen, out of everybody, even something like intel, look what that did, 27% in 2017, that was a monstrous move outpacing the s&p and dow they give opportunities on pullback it was now in the mid-40s again going into earnings. if they deliver -- but the key is, when you have runs like that, you have to deliver, and you got to overdeliver on your earnings >> yep we'll see if they can do it. pete, thanks >> cool, thank you, guys >> pete, catch all fast money action at 5:00 p.m. eastern, just under 20 minute's time. the latest round of nafta talks underway in montreal the former mexico president weighs when when we come back.

well, it's earnings season once again. >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade.

what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley former mexican president, vincente fox, is president trump's biggest critic saying he doesn't know the difference of running a nation and running a business let's move on calls for unity, and welcome to the stock exchange, mr. president, thank you for joining us >> thank you very much

nothing personal to trump except some of his proposals, some of his public policies that are -- so i like to speak about mexico, mexicans, so the stock exchange grew 1% in mexico. record high also we are moving. >> here's my thing if this -- if this book, if this came out when the president took office, i think people would go, you're right, he's a lunatic, this is going to be horrible now a year's past. look at the market look at the u.s. economy his policies have not been that extreme with a couple of exceptions does it -- are your worse concerns still valid >> well, pardon me, human thing, and that's why it's not working, compassion, respect for others,

being a president for everybody, not for a few. the economy is moving, it's not trump. you know better than i it's the corporations. it's the world economy now running at a pace of close to 5% increase, but i welcome anything that includes the economy, improve the economy of mexico, and that's what -- >> trump should be great for mexico >> created for the purpose, and so that we promise that freedom of ours, become the strongest, most competitive block of economies in the world >> such a big deal if he builds the wall, or simply they don't want to pay for it such a big deal if he builds the wall what do you think? >> the nation got it right to build as many walls as you want. my only advice is, it's a waste. it's a waste billions of dollars to build a wall walls, historically, have never worked

the chinese work, the berlin wall i don't see the use of doing it. there's many more intelligent ways of bringing more to the border, of bringing security teams to the border. that's a proposal that is sitting in congress, and the president bush administration, in my administration, there you have the answer to migration >> michael in. >> the current mexico leadership, we heard reports, well, look, they have to expect the possibility that the u.s. withdraws from nafta what do you think their basic stance is right now in terms of these negotiations and where they go? >> we want to stay in nafta. we want them to improve nafta, but we are kicked out of it. we have choices. u.s. is only 20% of world economy. >> what are the other choices -- >> china, india -- >> china is better for the world than america >> it's a huge market, 80% of

the global market is not united states >> you're talking about all things that are important, you know, the people to treat each other well, governments to treat their paeople well, so you turn to china if america is not a good partner >> if we don't have a choice, we will there's trade agreements with china. we are joining the tpp that trump rejected, but for him, that's his decision. i don't know what he has to sacrifice u.s. corporations and other corporations, i don't know why he has to sacrifice american people by not joining in it's a win-win situation creator of wealth. look at china. they train more than anybody else, and grow more than anybody else trading is good for the nations, and we should keep expanding, opening the market, and if the united states is out of the wto,

corporations are not growing in the stock exchange he's going counter reasonable, no experience, economic policies >> we don't want you to totally lose your voice here i know it's been a long day, but we very much appreciate your thoughts, and thank you for joining us here. >> i have to promote the book, and "ltet's move on," a great book, reflection, a lot of thins i have experienced in 75 years of life, so, please, buy it, please read it, and you will enjoy it >> spoken like a good capitalist vincente fox, thank you again, goods to see you requiring chief executives to prove he or she is healthy before getting hired that's in the next takeaway. the vice chair of lion's gate, what could be the next big media deal more "closing bell" in two

hey. pass please. i'm here to fix the elevator. nothing's wrong with the elevator. right. but you want to fix it. right. so who sent you? new guy. what new guy? watson. my analysis of sensor and maintenance data indicates elevator 3 will malfunction in 2 days. there you go. you still need a pass. flexshares etfs are built around the way investors think. with objectives like building capital for the future, managing portfolio risk and liquidity and generating income. that's real etf innovation. flexshares. built by investors, for investors. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully.

we begin with walmart building a, quote, unquote, tinneder for online greshry shopping the company filed a patent for a subpoena like an app that would let you accept or reject produce as the walmart worker is picking it out for you thelt they will limit the amount of times you could reject it brilliant or frivolous. >> i never experienced tinneder. my understanding is that both parties have to gray

>> swipe right if you like it or left this is more an accept or reject. >> a mistake you only make once. but, no, i do think it is an interesting work around. obviously, there are so many clogs in this pipeline to have people comfortable with having somebody pick their fruit out. >> i think it's brilliant, it may be copied. >> i don't know that they want to necessarily license it and make money but maybe let their service be better. >> interesting. royal caribbean is cruise line is giving workers a bonus for achieving company wide performance goals. that was a three year goal to double earnings and hit a double digit return on invested capital. they will be a percentage of salaries in the form of royal caribbean shares should more companies tie the payouts to performance goals >> it is the true meaning of bonus. it used to be called profit

sharing. yes, it does make sense if you can get people feeling their performance matters to the bottom line out there. but i don't think you are going to have a lot of people happy with this is going to replace 5% of your story. >> if it is a replacement, no way. >> but as bonus it's good. >> csx will require its ceo to get an annual physical it comes from the death of hundred hadar harrison from unspecified medical problems should other board adopt a similar policy. >> i wasn't clear if boards required this. i wondered if your key man life insurance might have required something like this. maybe not. it seems like they want to of a the fact make up for a little bit of an oversight. it makes sense to me i think it is a one of those elements of employment agreements that nobody would really object to i don't know if privacy concerns

would come in. >> i'm not sure how much good it would do oscar munoz had physicals. they talked about how healthy he was at united when he had a horrible heart attack. >> exactly, needed a heart transplant obviously it's not going to catch everything ttybe an example of where an cuive is at risk. >> feels like it could become a standard. more big earning are on deck tomorrow we will give you a look ahead when "closing bell" comes right wh[ click, keyboard clacking ]t ♪ good questions lead to good answers. our advisors can help you find both. talk to one today and see why we're bullish on the future. yours. talk to one today and see why we're bullish on the future. ♪

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let's do this. got it. book the flights! hai! si! si! ya! ya! ya! what does that mean for us? we can get stuff. what's it mean for shipping? ship the goods. you're a go! you got the green light. that means go! oh, yeah. start saying yes to your company's best ideas. we're gonna hit our launch date! (scream) thank you! goodbye! we help all types of businesses with money, tools and know-how to get business done. american express open. nothey're not investing iney to commoditiesies.ne. or fixed income. what people are really putting their money into is what they hope to get out of life. but helping them get there requires a real refusal to settle for average. because when you approach investing with a tireless desire to beat the status quo, something wonderful can happen. those people might just get what they wanted out of life. or maybe even more.

welcome back to "closing bell." i'm sue herera with news from the north korean state news agency it is a fascinating headline north korea says to all koreans, quote, let us make a breakthrough for independent unification of the korean peninsula. north korea says to all koreans, we should promote contact, travel, cooperations between north and south korea. and north korea says it will smash all challenges against the reunification of the korean peninsula. interestingly enough, that word, independent, it seems as though given the fact that we have the olympics coming up in south

korea in just about two and a half weeks, they are asking for an independent breakthrough and reunification between north and south korea. the nbc news foreign desk is working this story fascinating headlines,cally, at this point >> sue, they certainly are thank you: just couple of quick thoughts unify as which korea. >> what would be the terms. >> and for all the critics of president trump, when is the last time you heard rhetoric like this out of north korea >> usually you have a joint presence at the olympics it seems like it's the catalyst for this, but no, you are absolutely right you basically have long had a give and take of threats but nothing secret. >> and the final thing, who knows what to do about taking this at all at face value with north korea. just a weird time, with everyone just about to travel out there to pyeongchang quick, let's talk about

earnings let's do a quick check of all the names moving since they posted results earlier this hour, s 5 up 2%. las vegas fans down slightly negative whirlpool slightly negative. a lot to listen to on the conditions of call, especially with whil pool, especially given what happened with tariffs that does it for "closing bell." >> >> "fast money" starts right now, live from the nasdaq market site overlooking new york city's times square i'm melissa lee. pete najarian, tim seymour, guy adami. >> hold on for dear life, it is heading to $30,000 this year. as media deals heat up, lion's gate seems to be one of the hottest take over targets out there. michael burns will be here for a special game of deal or no