that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade. good morning it's 8:00 a.m. at intel headquarters in santa clara, california it's 11:00 a.m. on wall street and "squawk alley" is live ♪ life's too short passing by s if i'm going to go at all, go big or go home ♪ ♪ go big or go home ♪ go big or go home ♪ go big or go home

♪ go big or go home good friday morning. welcome to "squawk alley." i'm carl quintanilla with jon fortt and here at post nine. record highs on the dow and s&p this morning all major averages having best month coming as the president addresses the economic forum in davos sw davos switzerland yesterday declaring america is open for business sat down with our joe kernen for more we'll turn to michelle caruso-cabrera in davos this morning. hey, michelle. >> reporter: hey, carl, president trump on a full court press to convince investors around the world to invest in the united states. trump reiterated how pleased he is about the corporate tax cut, what it does for american competitiveness and how it's leading to bonuses for workers

as a result. >> i think that the tax plan has been even better than we thought. what did happen that nobody considered is that at&t started, but they immediately followed hundreds of companies are giving thousands and thousands of dollars to their workers and now you have almost 3 million workers that are receiving thousands of dollars nobody ever thought -- that was in the plan. >> even starbucks. >> even starbucks. yesterday disney and others. by the way, the ones that aren't doing it, the employers are going, how about us? guess what, they're going to be doing it too. >> the president repeated that analogy today to a crowd of more than 1,000 people. there are two types of trump speeches, the state of the union speech soft and then there's the floor of the u.n. combative. he catered to the crowd and softened his america first

message. >> america first does not mean america alone. when the united states grows, so does the world prosperity has created countless jobs all around the globe. and the drive for excellence, creativity and innovation in the u.s. has led to important discoveries that help people everywhere live more prosperous and far healthier lives. >> reporter: no one walked out as some had threatened if anyone boycotted you couldn't tell because every seat was full despite all the complaints that i've heard from many of the people here about president trump, the second he took the stage, the cameras, one noted on twitter that, quote, all the global elites are behaving like they are at a britney spears concert. guys, back to you. >> yes, a lot of phones out

reporting the president, michelle, thanks for that. for more reaction to the address today, former hedge fund manager termed billionaire activist, good to have you back sdpl thank you for having me. >> michelle said it, softening his america first message, talking about the stock market and the corporate commitments to wages and cap x. you impressed with any of this you've been highly critical. >> i have been highly critical and i remain highly critical i think when you think about donald trump and he starts to talk about america first doesn't mean america alone, you have to ask the question ability how this guy has led his life and what he's done as president. and what i would point you to is the idea of the difference between a deal and a relationship here is a guy who likes to do deals and in fact doesn't have a relationship of trust with anybody in the business world or any other country around the world. >> well, i think netanyahu would

have -- >> excuse me >> netanyahu would have a real disagreement with that last point. >> there's one out of 194 countries you're absolutely right. i stand corrected. 193 noes and one yes. >> how -- at what point, tom, do dollar bills change your perception in other words, i wonder how much money you think you've made in the markets under this presidency so far. >> well, i think there's no doubt that this tax cut was incredibly profitable for rich people in the united states of america including me so i know for a fact that i've earned a bunch of money on my investments that i wouldn't have made if there hadn't been a trillion and a half dollars dedicated to the future of american companies and rich people but that doesn't make it right the fact that it's benefitting me doesn't make it right for 320 million americans. and, in fact, it's going to turn

out to be disastrous for the majority of americans. so i would have to be an incredibly short sided and selfish person not to worry about my country and my country people when i think about the future the fact i've made a bunch of money doesn't for me come close to outweighing what i believe is a disastrous policy for our country. >> hey, tom, it's jon fortt. >> hey, jon. >> it's been quite a week for politics and for the president -- hey -- from the averted shutdown to this economic message in davos and you've committed spending millions of dollars trying to get young voters across the country and you hope voting democratic how has the past week complicated that with the way the democratic party, the democrats in the senate responded on daca and the shutdown and what you're trying to do? >> well, what we believe in is to try and stand up for basic

american values. and one of those is the respect and dignity for americans. and so we are uncompromising in standing up for those civil and human rights regardless. so when we talk to young people, we believe that what they respond to is they're actually much more idealistic than people understand they have true optimism and hope for our country. and they want leadership of people who absolutely see a straightforward way to make a better america and who are going to stand up for it. >> have the senate democrats complicated that for you >> look, i've said i worry that they miscalculated in the way this came down and so from my standpoint, you know, we're committed to the idea of extending the dream act period, a clean dream act. but i think that goes along with our idea that we don't believe in compromising on the dignity of americans and so sure that way about that

dreamers, but we see this as a civil right and standing up for americans. and that's something we're never going to not do. we're always going to stand up for american rights. >> tom, can you give the administration any credit for potentially floating this idea of a compromise on daca? the path to citizenship for these 800,000 dreamers in exchange, yes, for funding for the wall i mean that's at least somewhat of a walk towards a compromise. >> you know, i find it really funny because i think your questions about america first and your questions about daca are the exact same ones this administration has said any number of times that they want to make a deal on daca they make a claim that they'd like to sit down and do bilateral negotiations who trusts them? they've said that they are for a clean dream act at least twice the fact of the matter is this administration can't stick to the truth, won't make a deal, hasn't made any bilateral deals,

has blown up a bunch of deals and then says now we're open for business but who believes them? >> well, i think the fact that they did walk away, tom, is key, right? >> of course i do. he was going to get the mexicans build the wall he's willing to do the climate deal if it isn't bad for america. he has an o-fer. business guys who talked up his game claimed a lot of things and has an o-fer that's where we're going and where we're going to go. you lose credibility when you never come through with what you say you're going to do. >> speaking of credibility, we had you on a couple weeks ago, we talked about your messaging for the midterms, the way you're

donating resources to change to bring in a blue wave we'll see if that happens. but it's going to coincide with assuming a stock market that if it continues on the current pace will be at record levels if these companies continue to weigh in with bonuses and wage hikes and even pensions contributions like fedex does today, you'll be up against that message from another famous democratic operative james carville that it's the economy stupid why aren't you worried about that >> listen, i think anybody who's a democrat and is over confident about november 6, 2018, is wrong. i agree with your point that this is going to be a very tough election if that's your point, i agree with you i think the fact of the matter is there's going to be -- this is going to be a hotly contested election it's going to be two dramatically different views of the country and our values you talk about the stock market.

the stock market is basically benefits rich people and so it is going to be highly contentious. i completely agree with you and i think anybody who is, you know, overconfident or taking anything for granted is wrong. >> tom steyer, we'll have you back again, tom. every time we're on i can't even look at my twitter mentions right now given the mail coming in we'll see you soon tom steyer joining us from san francisco. we have a big show ahead on pace for the best day since july of 2014 on earnings chief financial officer bob swan will join us to discuss the company's report plus, twitter in the news this week for another executive exit. former twitter ceo will be here at post nine to weigh in on social media and former treasury secretary larry summers has to say about mnuchin's dollar moving comment he's going to join us in just a few. and as we head to break, take a

look at stocks at this hour. the dow up about 86 points the s&p up about half a percent. "squawk alley" is going to be right back at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage.

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shares of intel serging up almost 10%, now on track for the best day since march 2009. quarterly results beat estimates on earnings and revenue largely driven by strong data center

sales. joining us now for a first on cnbc interview is bob swan, the chief financial officer of intel. bob, good morning. >> good morning, how are you today? >> well, not as good as your stock is doing, but i'm doing fine up 20%, cloud in particular up 35, outstripping the enterprise growth for data center but the next quarter, the current quarter you're expecting to be a little bit more normal, particularly because of the strong enterprise performance in q4, explain why. >> yeah. i think there's a couple things, jon, on the first quarter. again, outstanding to last year fourth quarter great, full year outstanding, record year for the company. and our guidance for 2018 really projects another outstanding year, another record year for intel. in the first quarter, our revenue is basically in line with historical seasonal from q4

to q1. so we're basically in line, a couple things about the fourth quarter. extremely strong enterprise sales and our psg business -- or spga business was up 35% we don't think the enterprise of the psg growth rates at that level are sustainable. but nonetheless, we're going into the year with a pretty solid first quarter outlook and a good outlook for the entire year >> bob, there have been a number of concerns about meltdown inspector of these chip flaws that we saw come out over the past couple months you were asked about that on the call and ceo brian krzanich said, we don't expect any material impact of the security exploits on spending or product costs or any of that so that's how we bake that in. my question is, do you anticipate needing to make any kind of payments or set aside any amounts of money to deal

with the continuing fallout of this for customers who feel like their equipment might not be working as they expected going forward into 2018? >> well, i would say first and foremost our primary focus is on mitigating the issue and rebuilding customers' confidence in the security of their data. so that's number one for us. and the fix primarily is about software so the cost is baked in to, you know, the basic cost structure of the company going forward we want to continue to do two things, one is optimize the software and mitigate any performance degradation that customers may feel and the second thing is the next generation of hardware is solution into the hardware as indicated yesterday we expect that to begin rolling out in the latter part of this year that bakes the solution in to the

hardware it's a big issue we're continuing to work with the entire industry system and issue. >> you announced you were going to spend $1 billion to make advanced chips how do tax reform that's actually happened since change your calculus for u.s. work force and specifically fab investment >> jon, as you know, intel's a significant investment both in r & d and global manufacturing capabilities and when we make those decisions, the tax incentives or the local tax rate are very important components of the economics of those decisions so earlier last year as you mentioned as we look at our global footprint, under the belief that we would have some

kind of tax reform, it made decision to invest here in the u.s. that much easier. so we'll begin at a scale down in arizona and just makes a more level playing field for how we deploy our capital on a global basis. so we're excited about adding what we believe will be up to 3,000 jobs in arizona as we scale over time. >> good news for arizona bob, i understand that bryan krzanich sent out a memo in the fourth quarter detailing intel will be taking more risks in the future any idea what some of those risks may be as shareholders look for possible return >> absolutely. brian has been over the last several years dramatically transforming the company and a company that has very strong market position in its core processing capabilities over time we've dramatically

expanded not just sticking to our knitting in microprocessors but expanding what it is we do so we play in a much larger market today in doing that requires us to take risks, but calculated risks that we think will expand our markets and also accelerate generated revenue growth and that's what you're seeing fourth quarter results in our 2017 results, but also our outlook for 2018 we're dramatically transforming the company to capitalize on a more data centric and intensive environment by expanding into new markets and new capabilities >> well, investors certainly take notice, bob, as your stock approaches $50 a share for the first time since 2000, i believe. bob swan, cfo of intel thanks for joining us. >> thank you very much when we come back, twitter losing its cfo this week casting some doubts about its strategic

plan former twitter ceo dick costolo is here at pt osnine he's going to weigh in on that and broader trends in social media of course after this break.

twitter and social media in the news this week the company continues to roll out stricter rules on content and reportedly working on a video sharing feature that could mimic snapchat we got the news this week anthony nodo leaving the company. we'll talk about that and more with dick costolo, former ceo of twitter. it's great to have him back at post nine. welcome. >> thank you. >> a lot of news what is nodo's departure mean for twitter? >> well, look, listen, anthony's i think a fantastic executive. it's one of the reasons why i brought him into the company as cfo person and jack made him c.o.o. he's ready to lead a company so he'll be a great ceo, i think the important point is jack built a great bench over the

last couple years. there was a bunch of news about departures in early 2015 and 2016, in the background jack was adding more people to the team, promoting people from within who are also fantastic leaders both the sales organization and the engineering and product organization, i think, have more than sufficient leadership than anthony will need. >> we should point out twitter got a pop just this morning when we were coming on. but we're back to 23.5 you can guess what people are speculating about would you be surprised to see a change in control in the next year >> i think, look, as you all know, i think jack is a fantastic person and a great leader and a great ceo for the company. i think actually the more important thing for twitter right now, and again it's got a little bit of press the other week but i think people underestimate how important it is for twitter to stay with news feed chains moving from focus on news and information and interest, which is long been

sort of twitter's backyard, and moving back to a more content about your friends and socializing and what your friends are sharing. that's huge for twitter and its relationship with the media and publishers around the world. i think that's going to be of enormous benefit to them. >> so those who were on facebook looking for news. >> right. >> and live information. >> right. >> you think come home to twitter? >> i think if you know you're twitter, you can think about facebook's been digging in our backyard with a pretty big backhoe for the past few years and they just packed up and moved down the street. that's a fantastic role to live in if you're twitter. >> if we have some growth monsters intact, apple, amazon, google and people talking about them like they're illicit drugs, like addictive, perhaps bad for society. but at the same time you've got snapchat and twitter -- >> i happen to think by the way billionaires are, you know -- anyway, they are their opinions about social media and -- >> probably because you're not a

billionaire yet, but -- when you look at twitter and snapchat, they're not managing to grow at that kind of pace. and even apple has had trouble in social, right despite the fact that it's huge. what is it that is so hard about plugging the leaky bucket for some of these platforms and getting them to grow >> i think the interesting thing that for people to realize is the difference between these networks is facebook and truly social networks are about your friends. a network of your friends is pretty, i mean, i don't want to understate the case for facebook, it's pretty easy because your friends are already in your contact on your phone. you can upload those contacts and build a social network a network like twitter or like linkedin is based on interests and that network is harder to build. linked in is people i worked with 20 years ago, i got to find them and get them to give me a reference, twitter is based on

an account i found and then found another county, those things take time to build. beauties of twitter and linkedin, while they're hard to build, they're much more resilient. you can't just go recreate that because it takes so long to create that. social networks based on the contents of my address book, you can have a number of those, whatsapp, telegram, facebook, et cetera. >> twitter is m coing up with a video sharing application that would mimic snapchat, but does it need to can twitter just refocus on news as maybe facebook moves back to your pure social networks? does every social app need to have all of these features or should they specialize, stay in their lane, find what they're good at and invest there >> i think a perfectly fair question my answer is both. >> okay. >> yes, focus on core competencies and i think twitter's core competency is what's new and what's happening

in the world live, however, what you're also seeing from them is it's easier for people to share visual information, take a picture and share it than think of the right 280 characters to write alongside that and maybe caption the photo with what you're seeing is continuing effort to make it easier to share visual information as part of the what's going on right now. >> davos been a big story this week a lot of it's been the focus on the role of regulation and tech. george sorros saying last night the exceptional profitability of these companies is largely a function of their avoiding responsibility for and avoid paying for the content of that platform they claim they're merely distributing information, but the fact they are near monopoly distributors make them into public utilities and should subject them to more stringent regulations aimed at preserving competition, innovation, similar echo out of murdock regarding facebook, they pay for the stuff

in the pipe. >> look, the history of government regulation of a business so achieve some outcome is not compelling. also things mentioned talking about things like voss and spam. these companies would get rid of it if they could, it's not like they're trying to find these things and remove them as quickly as possible. i think stuff to regulate them or define how they should acquire content and regulate how it should be paid for and distributed is just going to have all sorts of unintended consequences that won't be great for everybody. >> yeah. kind of hard to get somebody to start paying for something that you've been giving away for free. >> it's extraordinary marketing for these services as well so there's a sense that, well, the marketing should still happen for us, but, you know, you should also have to pay for the content is a little bit, all right, well. >> is this tech in turmoil overblown? sometimes the chatter in class can put too much emphasis on

certain things we see intel earnings after meltdown inspector was supposed to be maybe taking down the company apparently not is tech really in turmoil? how real is the danger >> i think it's a little bit overblown. these companies are run by smart people they're doing good job running companies. businesses are growing sure, there are going to be issues that they're facing there are going to be issues they're always facing. they're going to figure out how to get ahead of these irrespective of intel and the chip issues, social media platforms and foreign influence on them, they're going to solve these problems they'll figure out the best way to solve them and move forward. >> one last thing, i hope you don't mind, you're a pretty savvy market -- >> oh, here we go. here it comes. >> you're a trader, any good ideas you've had lately? any good trades? >> kind of left unsolved. >> if you change your mind, pick up the phone >> all right >> a market mystery.

thank you very much dick costolo. thanks for joining us. when we come back, any typical comment from treasury secretary steven mnuchin out of davos this week, the president saying those comments were misinterpreted well, former treasury secretary larry summers called mnuinch's comments very problematic. he joins us to explain stay with us successful people have one thing in common. they read more. how do they find the time? with audible. audible has the world's largest selection of audiobooks. for just $14.95 a month, you get a credit-good for any audiobook. and you can roll your credits to the next month if you don't use them. audible members get free, no-hassle exchanges... ...and use the mobile app to listen anytime, anywhere. start a 30-day trial and your first audiobook is free. listening, is the new reading.

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good morning everybody i'm sue herera here's your cnbc news update at this hour. turkish president erdogan vowing to expand military operation against the kurds in northern syria towards the frontier with iraq his comments are in defiance of the u.s. which has urged ankora to keep campaign limited in scope and duration hundreds of hamas supporters protesting president trump's decision to recognize jerusalem as israel's capital. palestinian leaders also refuse to meet vice president pence during his recent visit to the mideast. dozens of paris residents forced to leave their homes on the san river banks as waters keep rising in the wake of heavy rains. paris authorities have closed several tunnels, parks and the bottom floor of the louver museum fedex says it will be giving wage increases, bonuses and a

voluntary $1.5 billion contribution to the company's pension plan they are citing recent tax reform legislation the company following others doing the same including home depot, starbucks and comcast, the parent company of cnbc and that is the news update this hour back to you, carl. sue, thank you very much markets closing in the uk and continental europe finishing the week with a positive session the luxury goods sector among the big gainers. lvmh better than expected fourth quarter numbers and saying it's off to a fast start this year due to chinese demand. christian dior and gucci selling the brand back to the fashion designer, for the week stock 600 relatively flat, the stronger euro and weaker dollar weighing on exporters following comments from draghi and u.s. treasury secretary mnuchin. >> speaking of treasury

secretary, he is saying a stronger dollar is in the country's best interest, that's the exact correction former treasury secretary larry summers suggested in an op-ed earlier this week. and he joins us next to weigh-in more "squawk alley" in just a minu te you always pay your insurance on time. tap one little bumper, and up go your rates. what good is having insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident.

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i'm scott wapner, coming up today on "halftime report" at the top of the hour, an exclusive interview with the man who once ran fidelity's magellan and contra funds

plus, intel's best day in more than three years, start of more momentum we'll debate where the stock could go from here and has the commodities come back for real? we'll answer that question "halftime report" about 20 minutes away, see you then. scott, sounds good meanwhile, treasury secretary moving markets making comments in davos this week the president addressed those remarks in an interview with our joe kernen take a listen to that. >> yeah, i think they were taken out of context because i read his exact statement. i'll tell you where i stand, which ultimately is very important. number one, i don't like talking about it because frankly nobody should be talking about it it should be what it is. it should also be based on the strength of the country. we are doing so well, our country's becoming so economically strong again and strong in other ways too, by the way, that the dollar is going to get stronger and stronger. and ultimately i want to see a strong dollar.

>> joining us this morning larry summers, former treasury secretary and president emeritus at harvard university who also just wrote a piece in "the washington post" about mnuchin's comments mr. secretary, it's always good to have you. good morning. >> good to be with you >> the take on mnuchin is that he said publicly what historically secretaries have kept private and that's what got him into trouble, is that what happened >> well, yes, but most secretaries haven't favored a weaker dollar. so i don't know where his views actually are but he certainly made a mistake by not speaking in a carefully scripted way and not emphasizing the importance of financial soundness. >> does the president's follow-up to they saying the dollar is going to get stronger and stronger ameliorate any of your concerns? >> yeah, probably a little bit on the other hand, i always

thought presidents i work for always thought that it was a big mistake for a political leader to make forecasts as to what was going to happen in markets no one really knows what's going to happen next in markets. so i was surprised to see the president investinghis credibility in making a forecast >> you've always -- you've been hypercritical of this administration, no surprise there. but some of your tweets last night, i just want to read one, business leaders playing up to real donald trump in davos should ponder that those who dine too long with the devil end up on the menu in all due respect, mr. secretary, what are you talking about with the market and these corporate commitments to investing and consumer spending at a two-year -- what do you mean by that >> well, i mean, a couple of things first, i think the degree of credit giving to the president

is not really supported by the evidence if you look at the upwards revision in forecasts, europe and japan both had revisions upwards over the last year than the united states did. if you look at the strength of stock markets, most of the rest of the world in common currency rose more than the united states did. the president said that, you know, over time there's a tendency for strength in your country and strength in your currency go together he needs to ask himself why the dollar's fallen nearly 10% over the last year. that is a little inconsistent with the story that there's some kind of vast new strength in the united states. and i think the president has taken a legion of shortsided actions that may produce a benefit in the short run but will be very costly in the long

run. things like big deficit expanding, tax cuts, things like sacrificing environmental values by pulling out of paris, by opening up land for drilling without environmental protections. steps like raising questions about whether the united states is going to honor its trade comm commitments, steps that involve protectionist measures, steps that involve pressuring individual businesses. i think all that type of thing can produce a little short run increase in demand but does so in some real long run costs to u.s. credibility and therefore ultimately to u.s. prosperity. >> but what about the tax reform you lumped in there in that long list of things you're concerned

about, you think that's a short-term risk? you think there's something that we are missing here? i mean, look at the market run look at all of the things all of these korpgs are doing today to give back to their employees and shareholders vultd shareholders as a result of tax reform. >> i think it's crazy to try to judge decade long policies on the basis of four weeks of stock market response and corporate announcements. i think we've mortgaged our future and we're having a bit of a party right now. what i'm looking at is in a year or two the largest budget deficits in the context of a fully employed economy in our peacetime history and i'm looking at what are we going to do when the next problem happens. another recession will come.

we're already pursuing policies that drive the dollar down we're already shooting the fiscal cannon. that's what i'm worried about. this is the time to be preparing, not the time to be having a party >> mr. secretary, i wanted your reaction to this response to corporate tax reform where several companies are giving up to $1,000, in some cases more than that to workers as sort of a one-time thing when you look at the investment that's needed -- >> i think it's a given. >> -- in the u.s. workforce to prepare for the future -- okay go ahead tell me more. >> i think it's a gimmick. i think in many cases the firms have to raise wages because labor markets are tight. and so why not curry some favor with the white house by linking it to the tax cut. i think that it's a very common

device if you want to give somebody some money but you don't want to promise it to them on a continuing basis. you frame it as a bonus. so i think there's a lot of appearance management here and, look, the corporate tax cut's going to be forever. if the firms really believe this had to do with the corporate tax cuts, why aren't they committing the bonuses forever? >> right we're waiting to see if they'll be more aggressive investment down the road. last question, mr. secretary i mean, no doubt in your mind that the obama white house would have loved to have had announcements like these from apple and starbucks and disney and honeywell and fedex and verizon and at&t the way we've had the last few weeks. >> the obama administration certainly always wanted to see

more people hired, but i think the obama administration frankly had a more grown-up approach, which was to look at how many jobs were created each month in total in the economy rather than to focus on high profile announcements by particular companies. and if you look, job growth in 2016 was considerably faster than job growth in 2017. so i think you have a lot of stuff here that is pr. and if you look at the fundamentals of the economy, it certainly this quarter's numbers were happy numbers no doubt about it. but how long that's going to last i think is very much in question >> yeah. certainly something investors are trying to grapple with even in the midst of this party, as you say. mr. secretary, good to have you back thanks so much >> glad to be with you. >> larry summers joining us this morning. as we go to break, "squawk alley" continues dow up 90 points and s&p record

high 2854. don't go away.

former aol ceo steve case is going to join us on the other side of the break on rnvti in america a be right back.

steve case's rise of the rest $150 million investment fund supporting start ups in the heartland launching a play book to help these companies grow this is on the heel of president trump's interview with joe where he distusz ed the importance of bringing investments back to the

u.s. mentioning toyota and apple among others steve, thanks so much for joining us appreciate it. the chairman and ceo of revolution and the rise of the rest former ceo of aol so steve, sure you probably heard the president's remarks at least in part either to joe or his speech where he was fairly measured, making the case for why now is as good a time it's ever to invest in america. what was your reaction >> i heard it was pretty well received sort of was a little more measured making the case for investing in america obviously is posimporta. a good place to do it. i think the focus has to be done on the big company, mentioning apple for example. but the companies or tomorrow, that's where the job creation comes from so hopefully there will be more focus on supporti ining start u. we just met with 300 mayors and

released this new playbook 33 cities we visited and some of the steps they can take to really take their communities to the next level back the entrepreneurs there that can create the jobs and strengthen the country and level the playing fields everybody everywhere feels like they have a shot at the american dream. >> small business is a very important part of the u.s. economy, of course, but there are a number of other big businesses vying for some of those smaller towns. amazon is looking for another location what do you think? should you be making the case for why hq2 should go somewhere that's not the d.c. metro area what do you think yef is really thinking he's one of the backers of your fund as well >> we'll have to see i think it will play out over the rest of the year i applaud what they tried to do in terms of getting cities mobilized. now down to about 20 but one of the messages we just discussed here is keep fighting.

the communities rallied together to make the pitch to amazon. you might not have gotten the 50,000 jobs from amazon second hk, but you can create them by backing the start up, some of which can be the amazons of tomorrow >> steve, all these corporate commitments we've been seeing the past few weeks, the composition of those commitments. wages. benefits bonuses. facilities there's even been education and pension in there as well are you satisfied with the amount that's been earmarked for small business in the way that rise of the west would like? >> i feel like there's still work to do there was one provision of the tax bill called the investing in opportunity act. i think it essentially created capital gains and incentives to invest in these rising cities, opportunity zones. the governors will decide which parts of their state should be designate e designated i think that has the opportunity

to unleash more cap a tall there's focus on the big companies. does somebody open a factory or something like that. we need to moex more on the small companies. these big xens start as little start ups. how do you back more of these? some of which will end up being the big companies of tomorrow. the focus on investing in america is good. obviously we need to focus on the start upside the entrepreneur side of that equation that need mrs. attention to make sure all the communities in the country can rise last year, 75% of venture capital went to three states california, new york and massachusetts. 75%. so we need the entrepreneurs to get the capital from the coast to support what they're trying to build in the middle of the country. >> that being the case, is that sort of alison beauty pagt among the cities healthy nashville, indianapolis, which would not be very high on the venture capital list >> well, they're rising. we visited both i cities and

many other amazon top 20 we visited. nashville very well, columbus doing very well. you mention ed the d.c. area d.c., maryland, virginia are doing well, so we're showing signs of momentum and nashville, there's a lot of great things happening around health tech in columbus, around smart cities and indianapolis, a lot of things happening around enterprise software. so these cities are rise, but most people don't know this and they aren't gets on planes to visit them hopefully, that's one of the by-products of this amazon sec headquarters erffort. it's how 200 cities use that process to mobilize their communities to come together to collaborate better to support the entrepreneurs to create the job and companies of the future. >> hopefully they can use your playbook to help them get there. a lot of these small companies in some smaller cities that aren't concentrated on the coast. steve case, thank you so much for joining us here.

>> interesting day today dow's up 80 on the back of intel, but ten year's back to 267 and the two year almost 213 is now a nine-year high. brace for more earnings next week >> take a couple days off. >> over to the judge and the half ♪ >> welcome to the halftime report i'm scott wap ner. top trade this hour, stocks on the move again the dow notching its 15th intraday high this year. showing no end in sight. how high can it go with us for the hour today, jorjor john, jim, kate, along with erin brown. head of asset allocation at ubs. dow earnings season continuing to be a bonanza for stocks today,