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♪ tell us, commander what do you think ♪ ♪ because we know that >> good thursday morning welcome back to "squawk alley. i'm carl quintanilla with morgan brennan at the stock exchange. dow up 200 trade war concerns taking a backseat today the messaging turns towards a hope for negotiation this is what peter navarro told rick santelli a few moments ago. >> you think about trade deficits, our view is that for every billion dollars of deficit that we run that's driven by unfair trade practices, basically ships off about 6,000 jobs to other countries. and so if you aggregate that up say with the european deficit of $150 billion trade deficit in goods, that's over a million jobs that we lose because of

unfair trade so that's not a sustainable equilibrium. >> joining us with some insights today, tony krazenzi and j.p. morgan's asset global market strategist good to see you both to navarro, is the white house starting to articulate a path through these negotiations that the market can start to process? >> look, the developments over the past few weeks in terms of tariffs and trade agreements have rattled markets a bit again, we always remind our investors to look at the fundmentals of companies but the size and application of the tariffs and, yes, some of the numbers are big but the number to exports to u.s. is 0.1% of gdp.

so countries can absorb and handle i think it's a lot more of the messaging and recent news of hope that china and the u.s. and the rest of the world is focusing more on negotiating and finding out solution that doesn't hurt the local economies and crunch down on global trade that is actually allowed markets in the past few days actually to feel bate better, a few legs up in various indices around the world. that is good news for that long term view. >> all right tony, we heard that theme repeatedly from sell side economist that's this would be noise, it would get lost in the overall data the economy can handle it. any reason to think it could pose a threat to the robust earnings we're expecting this year >> sure. there is a threat. but this is more of a behavioral issue. when one does the math, one can compute easily the impact from trade is likely less than .1% of gdp which is crumbs, of course, in the pie what is more important and difficult to discern is how companies, people will behave in

response one could say though that with larry kudlow in place that we might see made for tv type policies where, of course, now and then the administration will pull back. a lot of this is simply trump 101 negotiating the way that you would expect him to negotiate. we've seen successes one could say in terms of resolution and relative to fear on nafta, looks like coming up and, of course, with south korea and so perhaps with china, one final point is the way that ping behaves. the president of china, he has a major speech in china on april 10th that most will be watching and probably be concessions and that could ease market concerns more so that will be an important piece of the puzzle. >> in light of that, is the fed really the biggest potential risk here for the market i ask because you had the annual letter from j.p. morgan's jamie dimon saying they may be underestimating that the fed should act more quickly. what do you think? >> i think that is a key

question for investors the reason why we monitor so much interest rates and how companies can handle it is because as interest rates continue to rise, there is a threat that they are too high for u.s. and global companies to be able to pay in order to maintain that bottom line earnings per share one big thing we're watching this year is how quickly the fed will move, what is the language around the various press conferences? at the moment we expect them to do two or three more rate hikes this year. now the inflation outlook can certainly change that. that's why watch wlag happens with prices around the world and wage growth in the u.s. will be a feed through to that i think as you rightly point out, it's one of the key things to watch this year, how quickly the fed moves and also what they think for the longer term. as we get towards second half of 2018, what are they messaging for 2019 as we get to the end of 2019, according to the current plot and the economic projections, we might get to a higher base rate in the u.s., the fed funds rate. that could cost them problems for u.s. companies >> now tony, from your

perspective, looking beyond the trade concerns, what are the other factors driving the rebound today? do you think there is more confidence about the jobs numbers that we're going to see? it sounds like you believe the macro elements are strong. what are the factors do you that i are particularly in play now beyond the sort of calmness now, reassurance now that trade issues will be negotiated? >> well, difficult to say much about the so-called rebound because the dow jones industrial average is still more than 2,000 points off the high. one could say about markets as usually the case that it is chopping around. it really isn't doing much markets are consolidating in a side ways fashion which for the bond market is not necessarily a good thing it does seem to be underperforming if you will relative to the decline in the stock market think about it the dow jones industrial average fell at one point 3,000 points what did the u.s. ten year do? move about ten basis points off the high so it does seem that the notion of the fed continuing to raise rates is still a factor in the story. but generally speaking, the -- we would be optimistic about the

outlook for economic growth globally this year and next. call it 6% plus which for equities means double digit earnings gain typically based on that type of gain and nominal gdp. >> all right finally, to tony's point about the bond market, the spread in volatility between stocks and bonds, several standard deviations, some argued this morning that is a buy signal for equities is that true >> well, we remain pro risk in this current state we like the earnings growth that's available and projected for u.s. companies in particular em is definitely also one of our favorite regions because of that long term growth story the bond market, within the bond market, there are areas that are slightly under price and they offer good value overall, we see yields rising and that forces us to feel more comfortable in the equity space. there is more growth potential over the course of the next

several quarters the volatility is acting out more in the market bond markets have been more aware of that pricing of the fed's interest rate moves. yields have gone up significantly and dwoenlt expect yields to run away because we still got the ecb and the bank of japan buying assets but there is still at this moment looks like more upside for equities at least in the nearer term. >> as we're talking guys, dow up 269, a full 1,000 points from yesterday. we used to talk about 1,000 point increments happening over months and weeks, not 24 hours good to see you both thank you. >> thank you meanwhile, facebook shares bouncing back a bit today. they're now up nearly 3% this is despite the company saying the data of 87 million users spla been improperly shared with cambridge analytica that, is far more than the 50 million number reported last month. the stock moving higher last night as ceo mark zuckerberg reassured that company is taking a range of steps to protect its

users and that the fallout hasn't hurt user engagement or ad revenue >> i don't think there's been any meaningful impact. but it's not good. i mean, i don't want anyone to be unhappy with our services or what we do as a company. so even if we can't really measure a change and the usage of the product or the business or anything like that, i mean, it's still speaks to people's feeling like this was a massive breach of trust and we have a lot of work to do to repair that >> zuckerberg said not taking greater responsibility for the user data is a mistake and he outlined a range of ways that the company's addressing privacy concerns but he also warned that security will always be an issue that company thathas to grapple with >> it never solves security. it's an arms race. i think in retrospect we were behind and we didn't invest enough in it up front.

we had thousands of people working on security but nowhere near the 20,000 that we're going to have by the end of this year. so i'm confident that we're making progress against these adversaries. they're very sophisticated >> whether asked if he still the right person to run facebook, he said yes he said when you found something as unprecedented as facebook, there will be things that you mess up. look, it's really interesting to see how he responds to those questions when he's really pressed on capitol hill on tuesday and wednesday whethn he testifies. >> it seems like they're trying to get the changes and updates and big bombshell stuff out there ahead of him testifying next week. >> he's on the apology tour, on the announcement of changes tour he really wants to get the message out there. but i think that it's going to be a different experience for him to be testifying in capitol hill he's never done that before. it will be interesting to see the things he is pressed by congressmen and congressmen about whether it's regulatory

issues or just the shear size and scope of facebook's power. >> it will be one to watch i have a feeling you're going to continue to be very busy in the coming days. when we come back, chief lobbyist, that's what the president called amazon's jeff bezos on twitter, a tech lobbyist will join us. take a look at the major averages athis the hour. all -- the dow is up 275 it's the dow's first three day win streak since late february now up a full 1,000 points from the lows yesterday "squawk alley" bk tethacafr is hey, sir lose-a-lot! thou hast the patchy beard of a pre-pubescent squire! thy armor was forged by a feeble-fingered peasant woman... your mom! as long as hecklers love to heckle, you can count on geico saving folks money.

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markets taking a leg up. the dow is up almost 300 points here going to take you back to levels we last saw in late march, march 23rd or so, march 22 nld -- march 22nd >> big tech names remaining under pressure from d.c. this morning even as the stocks moving higher, the president continuing his assault on jeff bezos and amazon over twitter while mark zuckerberg will be grilled in front of congress next week on the facebook data scandal. for all this and more, we're joined now by tech lobbyist bruce melman, founder and partner. bruce, thanks for joining us such a fascinating time for your business what do you think the most important thing is for facebook to address to minimize potential

regulation or is regulation inevitable >> you know, you're right both facebook and amazon as well as a lot of other folks in tech have concerns and large the challenge is the most powerful companies on the planet are the least regulated and at least historically that can never stand. facebook, a lot of the coverage, frankly, has a forest and a tree's problem folks in the hearing next week and a lot of the coverage seem to focus merely on the 2016 elections. i think a lot of the democrats are going to try to establish facebook was somehow a tool used by russian online agents to influence the elections. you're going to hear challenges to that as well as questions about whether or not conservative voices have a fair shake and a fair platform on social media but the broader question, the forest question for facebook is the fact that they have extraordinary user data on more than two billion individuals

and we -- users of facebook, and i'm a fan. i use it all the time and i like it but i'm not their customer i'm their product. the conversation is going to move to broader questions who have really ought to own the data you're seeing in europe already questions of whether you ought to have the right to remove data or right to see what they have on you i don't think we're going to have legislative action in 2018 on that question but the conversation will only grow from here >> yesterday, zuckerberg said he's going to have facebook tools around the world comply with those stricter european privacy regulations put into place next month you said we're not going to have regulation this year but do you think that the company is going to be pushed to change dramatically the way it handles data and a way that could really impact the business model? >> well, for sure the company is already being pushed in the pushes are going to grow to have consumers get greater control over the data.

again, the thought that cambridge analytica situation was a data breach is frankly not as honest about the situation as it should be the reality is that a lot of the things that cambridge analytica did in 2016 for which they're being excoriated were hallmarks of the 2012 obama campaign for which he was celebrated. now there's a big difference in the ex-filtration of the data and whether or not it was done within or outside of the rules but more broadly, social media platforms such as facebook allow far more precise advertising, far more effective advertising, what they call psycho graphic profiling of voters and the 2012 obama campaign was still one of the all time great efforts at psycho graphic profiling of consumers. that's facebook's value proposition. it's why their evaluation is so extraordinarily high and the question becomes as we all learn what they're really doing, do we care and do policymakers add a lot of friction

>> bruce, i want to get your thoughts on amazon given the presidential tweet storm we've seen over the past week and over the past year plus, the fact that jeff bezos and amazon remained largely silent, you think that's the right move >> you know, i think they have a different challenge. theirs is a signal and noise challenge. the noise has always been the president's tweets and whether it's about post office or the media is characterizing this as billionaire versus billionaire the reality is amazon had already grown to one of the largest lobby shops in washington for a very real reason before this year. well before any tweets about amazon they have several challenges first, you have the u.s. retail problem. walmart used to get picked on because they would move in and hire people in town and compete with local retailers you're seeing local retailers getting eviscerated. but amazon is not moving in. they're just taking the business number two, you see questions

about taxes that they pay or that they don't pay. and the business model was growth, not revenue and not income and therefore, no the taxes. you see them objecting to let a 10 or $15 billion contract to amazon to provide a single cloud as opposed to an industry best practice for an organization to have multiple clouds >> bruce, thank you so much for your thoughts. it will be fascinating to see how this plays out >> thanks for having me. >> getting some news from black rock let's get to briansullivan wit that >> thank you very much yeah it has to do with black rock and fire alarms. they announced that they're going to launch a new class of etfs under the esg, environmental social and governance mondayicer that will exclude firearm related companies from the etf they also registered to create a bond etf that excludes the fixed

income the bonds of any civilian related fire arm company as well vanguard, black rock and other index fund providers have come under fire lately for having these products that have gun stocks in them they have come out and said well, we are by law forced to track these indices. but now black rock is coming out with some new classes under their more socially conscious investing. so the etf lineup changes are like this. it's going to be a new small cap esg, environmental, social and governmental etf that excludes the stocks of any company that makes more than 5% of the revenue or 20 mi$20 millon in ru per year they're going to be offering pension funldz and retirement funds and new 401(k) products that are firearm free. they'll be offered in pooled funds as well. if you have a retirement plan or pension fund and you have an aversion to owning anything that has a gun stock in it, blackrock registering for new bond

products as well that are firearm free back to you. >> all right brian, thanks for. that brian sullivan. when we come back, the biggest names in tech are meeting with saudi arabia's crown prince weechlt discuss the deals he is eyeing and signing as we go to break, stocks moving further out of correction. maybe the fifth straight day the dow moved up or down 200 points. we're now up 324 ♪ approaching medicare eligibility?

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welcome back to "squawk alley. on the agenda today, saudi arabia's crown prince is set to continue the tour of the u.s. and meet with big tech josh lip ton joins us from one market with the details. josh >> morgan, the crown prince or members of his delegation are anticipated to spend the next couple of days talking with tech executives sources confirm to cnbc that members of the delegation will indeed be heading to apple they're also going to be going to alphabet for what is described as a standard meet and

greet there. members last week saudi's naster was in new york and announcing that agreement with google to explore building a cloud computing hub in the kingdom certainly the tech community very familiar with saudi money in the past five years, saudi investors have participated in funding rounds totalling $8.2 billion in u.s. startups. saudi arabia's public investment fund is some 20 investors and now $5 billion funding round for uber in 2016 prince's kingdom holding company took part in lyft's financing round that year. nearly 1 billion funding round this year. this does not include venture firms that saudis invested in as lps. remember, there is, of course, soft banks $100 billion vision fund where saudi arabia's public investment fund chipped in the largest sum of $45 billion

the crown prince were together last week in new york. and they announced that $200 billion solar power project they invested in 30 companies already from arm holdings to we work the prince is also reportedly going to meet with venture investors here but they say that some vc firms may feel cautious about taking money from the prince that they are still trying to figure out which side of history the prince is really on, a force for true progress or something else >> josh, thank you >> you have a question >> josh, i'm curious, we'veals seen this big saudi push of money bringing hollywood resources into saudi arabia, opening theaters, trying to sort of bring that hollywood it is the same thing with the tech community and if there is a lot of enthusiasm for the potential to open up this new market

i know just in terms of the movie business, they're very excited to have a new audience for the big blockbuster films? does this mean a new market for all the apple devices or is that market saturated already >> if the question are they public and private excited about the amount of money, yeah. i think certainly that's what it comes down to i think what they were trying to get at was possibly some of the tensions here as well though about taking saudi money as he pointed out some of the caution. they adhere to progressive values at the same time saudi arabia is criticized for the human rights record. again, it comes down to money both here and in hollywood, julia. >> thanks, josh. >> josh lipton, thank you. >> i also note that we've been

visiting with the other tech companies including -- i mean by that the defense contractors so the saudi crown prince expected bhil he expected while he's there to visit the sunnyvale location i learned the visit is going to be happening today he's expected to see the satellites and cutting edge space technologies according to a senior lockheed martin official expected to see the key spo components that the saudis are buying right now saudis are putting a lot of money into defense contracts right now. including based on that arms deal that was struck last year by president trump about $28 billion in orders just for lockheed to be carried out over the next decade alone. so this, of course, comes after he visited with boeing last week and also signed an agreement to do a joint venture with boeing that will repair and update military aircraft in saudi as

well the other thing to watch >> stocks getting a nice push here as europe's about to close. germany's going to close almost up 3%. let's get to seema mody back at hq >> that's right, carl. european stocks rallying to a two week high as we await for details surrounding u.s.-china trade. markets up more than 2% today catching up to yesterday's rebound in the u.s yep, german dax up 3%. germany which has been under significant exposure to china is leading the pack today led by the exporters those includes siemens, fire, bsaf and sap those are the stocks driving the german index higher. basic resource sector bouncing back in a big way, up 3% recouping losses due to wednesday's slump in copper prices after the worst performing sector, technology is also getting a nice lift as the chip makers rebound, asml, infinion

and sd micro all up sharply today. we begin with a call out of citigroup who the global strategist upgraded uk equities to overweight while downgrading to neutral saying that uk stocks look more attractive in wake of the underperformance and cheap valuations keep in mind, the ft-se 100, the worst performing major european market in 2018 down more than 6% year to date part of that due to inflation concerns, julia. but also the brexit which is a huge overhang. back to you. >> thank you now as we head to break, take a look at shares of facebook higher after simark zuckerberg said it is up 2.6% is the comny ithpan e clear? we'll discuss that next. stay with us ♪ feel that? that's the beat of global markets,

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here's your cnbc news update christian neilson says the trump administration hasn't determined how many troops it will seek to have deployed to the u.s.-mexico border they will send as many as is needed >> i would have liked to hear from the governors and what they want that is not anything we proposed but we want to get to border security what we're going to see is we're

going to do everything we can until and when congress acts >> a research assistant shot and killed four staff members and injured three others at a university in central turkey the gunman turned himself into police after the attack. the motive was not immediately known. bill cosby returned to court after a jury was finalized the selection of six alternate jurors begins today. and that's our cnbc news update for this hour. back over to "squawk alley." >> all right thank you. rick santelli brought us peter navarro a few moments ago. take a listen to what he said. >> when it comes to trade, the strategic vision here is to get to a world not dominated bypassive trade impallanced and trade practices but rather to a world of free trade. >> let's get to rick santelli at the cme and get reflections on your second interview with navarro in a couple weeks.

what did you think, rick >> you know, i think that he has a big job and so does larry kudlow and the president because in order to get to a bilateral arrangement with china which is essentially where this is leading to, you need to have certain forces arise and in my opinion, those aren't easy there's big time issues here you know, trying to adjust trade in the current global setting that we all do business in will be kind of like trying to fix a problem on your car while you're on the expressway going 60 miles an hour. trade doesn't pull off trade doesn't have a pit stop. the global economy doesn't go into neutral to allow tinkering under the hood so it's a tough job. but so is the notion of pairing back regs, trying to get tax reform over the top. like trade, the process to accomplish those isn't necessarily palatable. the president's process to get

things done, whether it's diplomacy in north korea, trade, all of it seems to be something that is unique to this president. bui but there is very few ways to get around the fact that the end up policy, should you git to the point or the ultimate destination has many benefits. and i know that boeing, for example, has been used and so is agriculture in the midwest is bullet points again some of the processes that are going on. and all i can say to that is that boeing was at $142 the day that this administration was elected. it's now 134% higher, even after the volatility so, you know, sometimes things can be disruptive and we should be a lot more comfortable with the notion of disruption because whether google does it, when alphabet does it, when microsoft does it, when elon musk does it, people want to make them the fifth heads on mt. rushfor. but when the president and his administration try to do it,

they g they get vilified. i respect the market's nervousness but i also respect the fact that trying to accomplish better trade and get all of our allies thumbs off their trade scale is a very important mission. >> right that's a good point. although, i mean, amazon is a disruptor and they're being vilified by a white house that is looking out for old interests like mom and pop retailers i'm curious, rick, you know fixed income -- >> by the way, carl, i'm not a big fan of the way he's zeroing in on amazon i would look at it if the post office getting a raw deal, we have the king of deals make a better one. >> rick, we've heard a couple different schools of thought about whether or not the chinese really would use their $1.2 trillion in u.s. debt as a weapon or a wedge. do you think that's true would they not show up in ways that they showed up before >> i personally don't think so

it's not an old issue though i remember hillary clinton mentioning this years ago. it is an issue to pay attention. to i would say that foreign buying and our fixed income markets and auctions has tapered off a bit. even though there is still some there. the holdings for china might have been the best trade they ever did in their history whether you think about where they started to buy these securities and where they ended up and where their average prices and yields are. but in the end, i don't think that will be used as a weapon. and, indeed, i think that the point merits much more consideration though because it isn't only about china we need to be thinking about how we pay for things we can't afford in a better fashion because there is a vulnerability there that really transcends just this particular issue with china. >> rick, i -- in that interview you also mentioned the fact you converted one of your cars to natt gas which just raised so many questions for me about whether or not you're still driving it around.

i bring it up because energy exports is the point you were getting at here, whether we'll sell more natural gas to china and energy does seem to be sort of one of the areas where it could be a bigger lightning rod in the trade discussion including with nafta >> i think it's huge the way that wilbur ross reacted with this topic and our own patty dom, it leads me to think there is an end game here which is going to include a lot of negotiations on many issues to try to get trade to a place where it's more profitable and relevant and reciprocal not only from our side of the table but china will be much better off using much more natural gas in the power grids and i think that perfect a perspective global trade, we have an ace in the hole with respect to at least the cleanest energy form i know of that is ready for prime time. >> rick, thank you >> rick santelli in chicago.

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coming up at the top of the hour, what does the great bounce back for the stock market mean for the future of the bull market it's been up 1,000 point swing from yesterday to high today that doesn't mean all is clear but a big time call on a one

time steve weiss favorite, trading micron one firm says it's now a no touch. we'll see you at the top of the hour >> thank you, scott. president takes to twitter for the fifth time this week to attack jeff bezos. take a look at the latest tweet. amazon's chief lobbyist has another of many phoney headlines. trump defiant as china adds trade penalties wrong. should read trump defiant as the trade penalties will end barriers and massive ip theft, typically bad reporting. joining us at post nine, henry blodget. good to have you back. >> great to be here. >> people make jokes about this. how serious is it? how much does it matter? >> well, i think stepping back it is highly unusual and i would say disgraceful to have the president of the united states repeatedly attacking one of the most successful companies in the

world but also in america. has a huge job creator sure, it's contributing to great changes in the retail industry that folks are not happy b amazon is 135 million customers are extremely happy about the changes. it's why the company is doing so well irthis is think it is "the washington post. that's what president trump is angry about. >> i'm going to play flip side here >> okay. >> you flow also big job creators lockheed martin and boeing went after them last year too, right? it whats to strike a deal. is this about striking a deal? >> larry kudlow, the former cnbc contributor, saved the stock market yesterday this 1,000 point rally is due to him saying, no, don't worry about what president trump is saying he doesn't mean it he's just negotiating. there won't be any tariffs if that's the -- that's great. wall street loves that maybe want to get the post office a better deal with amazon i would say then he should su

suggest the post office raise prices his party controls the post office raise prices and then amazon will build their own distribution system and the post office won't be losing money on amazon packages. >> the journal looks at aws, the center of their growth estimated 10% government contracts, right $4 billion in operation net. how much could they use government contracts as a weapon as a punishment? >> look, the government can use whatever it wants to at its disposal to negotiate with whatever contractors it chooses to use again, there is another highly unusual event reported earlier this week which is president trump having a meal with the president of an amazon competitor just before the big attacks began. again, leaving politics aside, if you are part of our economy, you have to be concerned about that it is the commercialization of the presidency you can say it just looks bad if

nothing else if the government wants a better deal with amazon, say so maybe they'll get it >> it sounds like you think this vendetta is a personal one against bezos because of "the washington post" which, of course, we have to remember is not part of amazon just owned by bezos. what is next does he try to break up amazon with the different piece that's are bothering him between aws and negotiation and the post office issue >> i would assume he keeps threatening, yes i think it is in large part a personal vendetta. i think he's obviously unhappy with some of the coverage of "the washington post" and that's tied directly to jeff bezos. i also think with amazon, everyone shouts it's too powerful antitrust! if you look at every business they're in, they only have a small percentage of that business and that is why amazon is so beloved on wall street is that people look at it and say it's not a technology company it's not a 95% share to the winner and everybody else goes to zero. it is more of a consumer company. they get a little more every year

they get bigger and bigger sky is the limit that's why the valuation is what it is. >> finally, before we move on, you think bezos should say something? >> i think he's doing the right thing staying qui e i think amazon is doing the right thing and the analogy is if somebody is shouting crazy things on the corner, do you try to reason with them or just walk by and hope they don't do anything else i think if president trump actually takes action, you'll see amazon respond at this point, it's just words >> we want to get your thoughts on facebook ahead of mark zuckerberg going to testify on capitol hill next week they've announced changes. zuckerberg did that call yesterday where he answered questions. what more do you think they need to do ahead of that testimony? and then what do you think zuckerberg needs to say to reassure regulators? >> well, the regulators and shareholders and now people are calling for mark zuckerberg's head i think one thing that congress does very well is excoriating people on public television or television and so this will be a hearing that everybody wants to watch. i think mark zuckerberg will do well

he's done well in the conference call he did. he is out in front of this facebook obviously -- has had this wonderful run for many years after the controversies right after the ipo and the concern about mobile they've had this amazing run now they do have a big challenge that they've got to overcome there is something we talked about on "squawk alley" for a year facebook is very slow to embrace the responsibility that they have, having created the most powerful media and communications distribution system in the history of the world. they actually have to own up to that power and take responsibility for it. they've been slow to do it and now it is flying back in their face but i think so far they're handling it as well as they can. >> he said they haven't seen impact on usage or ad revenue. is that going to hold? do you think this scandal is different from the ones preceded it >> i think it's he didn'ted. i do think that they have work to do to reassure people there are some people, every time i talk to my father, he says i don't like facebook they could misuse my data. dad, you may be thinking old fashioned there. we're not that concerned about

it but definitely some people are that way so i do think they have to watch out for that it is a very sticky service that everybody is addicted to and so far they're not seeing it. >> it's one interesting hearing. >> it will be. the ratings will be good >> exactly especially the house side that could get spicy. henry, always good to have you in come more often. >> i will. i love to. >> henry blodget >> stocks are back after the tariff announcementes from china spooked the market more on the market's reaction to trade coming up next

it is a remarkable day today if augusta, georgia, as the masters kicks off. dom chu is watching it he just spoke to a very special guest as well. hey, dom, lucky you. >> reporter: it's amazing here gary came here after he hit the ceremonial opening tee shot alongside jack nicklaus, two hall of fame golfers here. the masters this year has had a lot more buzz than previous years because of one man in particular gary player spoke to us about why tiger woods is so important to this tournament >> it is an atmosphere here this week that everybody's talking about.

that is, there were always about 15 guys who could win. now there are 20, 25 guys that can win this year. the thing about this year, they're all playing well and we have different scenarios this week. obviously tiger woods has had a lot of adversity in his life, to come here now and possibly win a major, i didn't think he would ever be able to do that with all what he went through it just shows what a competitor he is. so he's got a good chance to win. and we need him to win because he brings out the people, the media, the sponsors, the public, everybody. you can see a vast difference in ticket sales >> reporter: gary also talked a little bit about just why he feels to good about the masters at augusts that national and some of the history behind what it means to be here before this tournament take a listen. >> i always want to see somebody win that is going to enhance the game, because, you know, professional golf is very, very successful at the moment, but

amateur rounds are down. so we need more young people and people to be playing the game. so anything that will enhance the game for me is important you come back here at the champions dinner and you sit in that room with all those champio champions, quite an experience everybody has a little something to say or most people do you go back in history, it's wonderful. this tournament is inundated with history and exciting moments. i could write a ten-line story immediately on some of the most incredible things i've seen. and things seem to happen here that don't seem to happen in other tournaments. >> reporter: so he also spoke a little bit about just what's happening now in america with the political situation, obviously a very big deal for many athletes out there, many international compete competitions here is what he had to say about america and its political nature >> i've never seen america more divided at the moment, which makes me sad

i mean, you know, whether you like your president or not, he is the president of the united states of america, the leading country in the world one should say, look, i love my president, i don't love my president, but i'm not going to put him right down on everything he does. if i don't like him, i'll vote for somebody else next time. gee, try and support your country. >> reporter: now, guys, he spoke about a lot of other stuff he does a lot of charitable work, he's designing golf courses still. a man like gary player has seen a lot in his 65-year playing career, especially here at augusta national i'll leave you with this he did tell us that his money this year is on rory mcilroy to win at augusta national at this year's masters, thereby completing his grand slam. so a lot of stuff going on here, a lot of drama tiger woods' presence has driven

golf channel's ratings up. >> he picks rory, i've heard others pick rose what's your pick >> reporter: i've got to tell you, i look at the vegas odds, it has jordan spieth and tiger woods at ten to one odds, so tiger woods is a favorite to win. i always feel like justin rose will come through. i'm not sure this year if it will happen, but i have a good feeling about justin rose. >> we'll play that tape on monday dominic chu at the masters, thank you. the dow is up 1,200 points of course the jobs number tomoowo d e ek 're back in a minute whether it's a big thing, small thing,

or something unexpected, pnc will be right there when you need us. because when it comes to your finances, if you focus on today, tomorrow has a way of working itself out.

julie left her laptop open. she's gonna get roses and then touch an eggplant. they're planning on losing their virginity tonight. maybe they're just saying, "you're okay with me." "you're okay with me." what? i'm gonna stop them. -i'm in. blockers. rated r. watching the rally, europe closes strong, we're up 326, boeing helping the dow we were talking about tesla during the break, which reclaims 300, having fallen from 300 on march 27th all the way down to 240 and change, 244. >> yeah, i mean, the report disappointing but not as disappointing production numbers. stocks up 30% this week.

risk on the reflation trade is back in full effect. also chevron and caterpillar >> ahead of those jobs numbers tomorrow, linkedin jobs report found a 19% increase in march hiring we'll see how that holds for tomorrow morning >> that's right, jobs number tomorrow so rest up. let's get to the judge welcome to "the halftime report," i'm scott wapner. our top trade this hour, the great stock bounce, how the market has come storming back and what it means for the state of the bull market engineer terranova, steve weiss, jon najarian are here. we begin with stocks continuing to bounce from their lows from then 'til now, all in the span of let's call it 24 hours, a more than 1,000-point swing. joe, the major averages are up 4% since monday's low. that's 1,200 p