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♪ good tuesday morning welcome to "squawk alley." i amcarl quintanilla with morgan brennan and jon fortt at the new york stock exchange. big news today out of netflix, raising prices for u.s. subs as much as 18% effective immediately for new users. the biggest increase since they launched the service 12 years ago. stock is moving higher the most popular plan with hd streaming on two devices at a time, a hike to 13 mark mahaney and math thornton are on the phone with us mark, we talked about something like this happening a long time. what does it mean now that it is finally here

>> this company is flexing its pricing muscles. this is the fourth time they've done this. most recently did it at the end of '17 you have the numbers right, about mid teens percentage, 15% increase in pricing. what it allows them to do is take that to the bottom line, price increase is pure profit, or better fund, better finance the content obligations. so just to put context around all of this, if this price increase successfully goes through, you're talking about a billion in incremental revenue and profit to netflix next year sus just in the u.s. if they expand globally, 5 to 10% booth to top and bottom line, depending how much they want to drop or spend on content. >> how much do they give back in terms of profits >> i think the most reasonable scenario is they'll keep most of it to keep feeding the content

the real question for investors, will the price increase stick. how much confidence that they'll get through it there's some point you can't keep raising prices. we think there are four reasons that will stick. survey data shows high levels of satisfaction we specifically ask and have over the years netflix subs how tolerant they would be of price increase, we see high levels of price increase third, there's no cheaper alternative. hulu is 25% more expensive for a comparable plan and amazon is a stand-alone prime subscription service, netflix brought up prices up to match that. there's nobody cheaper out there. finally, the value proposition you can netflix and chill, watch bird box at home and save 20 bucks instead of going to the movies that kind of value proposition, very few things in this country are as good as that. we like the stock. 450 is the price target. >> matt, do you agree, do you think the price increase sticks

for u.s. subscribers in. >> look, if you go back to 2016, last time we saw price action of this magnitude, we saw a modest blip in subscriber ads and short term but if you look at 2016, they got through the year with significant revenue growth, despite material up tick in pricing. i think we'll see a similar scenario in 2019 as mark was saying, it is consistent with the strategy, right? more and better content yields more subscribers, pricing power, and revenue. reinvest back into content and the flywheel continues to add to that, timing wise it makes sense. you're raising prices into a strengthening content. "stranger things" one of the top two shows by midyear, final season of "orange is the new black" by midyear. the next crown later this year,

and tactically makes sense as well >> mark, how are we going to know if increases stop working so well if customers start churning or sharing accounts where is that going to show up in data? >> that's exactly what people are going to look for. every quarter, people look to see what happened to that paid subscriber number. we've had five years in a row of accelerating, increasing paid subs at netflix on a global basis. it has been pretty consistent in the u.s. it has been accelerating overall on a global basis. the question is there is some level they can't raise prices beyond they're trying to figure it out and we are too we think we can get away with this one there will be a limit at some point. >> back half of the year right? this takes three months to kick in, presumably consumers have to see the increase before they start cancelling if they're going to do that, so it is not until end of the year we see it

in the data. >> we could see it as early as june quarter if there's going to be a problem, it could show up in the march quarter, but more likely to show up in the june quarter that's the test quarter whether this price increase will stick >> matt, former head of amazon studios today said basically they're raising prices in the most important market at a time their competitors are starting to come online what does it say about how netflix views the coming onslaught of competition >> i probably call three things, near term, the read through is probably positive in terms of how they're thinking about content, subscriber trajectory, i think it shows confidence there, point number one. point two i alluded to earlier in terms of content slate, you want to raise into a strengthening slate. we'll get the number one show stranger things by midyear, we're expecting another 13 reasons why, number two show

you want to raise prices into strengthening that slate and point three, you want to do this before competitive noise picks up back half of the year when we have launches from disney and time warner, hbo and others again, tactically, it all makes sense. >> before we let you both go, the fact that we are seeing price increases domestically but not internationally where the company is expanding aggressively, what's the read through there? >> we have seen some in international markets. i was in canada last week, they announced similar levels of price increases. i think it is reasonable to assume you'll see these in other markets. the strategy is not to do a global roll out, but each quarter roll out price increases in different markets we'll watch that one thing i want to be careful on, i am a bull on netflix but the company made mistakes in the past this company, i do worry at some

point they're going to push the pricing needle too hard, too fast right now, looks like they're doing it correctly, efficiently. should be a long term worry for investors, it is a watch item. >> well said, mark matt, we'll find out more when they report thursday night thanks, guys >> thank you and netflix is leading all of the faang stocks higher, sending the nasdaq up more than a percent. let's bring in nancy tangler and mike santoli guys, good morning nancy, i have a lot of questions over the past few weeks about whether tech was going to continue to be a leader in this market a lot of people saying no, it doesn't need to be what's the read through on the netflix surge today and even facebook, rhetorlet alone amazod alphabet following them behind. >> thanks for having me again.

listen, i think technology has to be an important component of the market to power forward and because we're seeing growth in technology, that is not hard for me to support as a portfolio manager. i would also say there's a lot to be said for tax law selling now we're on the other side of that, people are going back in and buying stocks they sold. that's the day to day practicality of what we have to do as portfolio managers at year end. so i like what i'm seeing, i like the potential price earnings to growth trade off in the stocks, and we're still overweight technology with commitments not to netflix but to foog agoogle, facebook, appl, microsoft. >> mike, you noted the s&p is up against some levels people thought would be tough to break through. >> yeah. >> seems like netflix would be a poster child for that surge given what it has done since december >> yes, nosing above the 2600 level.

i think if you view what we're seeing in the three week rally as rebuilding of risk appetites, the big growth stocks, tech stocks are down a lot more from the highs than the overall market is, even now, down more than 20% for the most part i think that's a logical place to go. if there was really an exaggerated shakeout in the growth scare in december and crowded hedge fund positions, i think that's why you're seeing people gravitate to that area. that would obviously help the indexes. in general, you have to keep two contrasti contrasting thoughts the market is up against a tough spot on the other hand, day to day, market behavior has been encouraging. it is morning dips keep getting bought, it rotates from weaker to strong areas. it is showing you that the market is feeling like it is getting back to something like normal metabolism now. and i think the participation of

the faang stocks are part of that yesterday, they were bad laggards it is hard to extrapolate too much. >> nancy after selling off as much as they have, tech stocks, is this one of the most attractive places to put money or when you look at earnings growth expectations for q4 that shows tech earnings are expected to grow some of the least of the s&p 500 sectors, are there other places to be looking >> we have been net sellers for health care stocks where we have been overweight for about three years, and we put the money in selected parts of the market in individual securities like broad com and morgan stanley companies that got hit extraordinarily in the previous six month period i was encouraged how jpmorgan has weathered the earnings miss. it was a big miss. but parts of the business i care about, the economically

sensitive parts of their business and the consumer were very strong so i think we're going to get mixed messages and some technology companies that miss and some that will not miss as much or exceed. if we can get muted responses in the market, we can work out of this resistance point. >> one comment ringing loud today is dimon's line on the shutdown bringing growth to zero if it goes on for months has that emerged in your mind as the overarching binary outcome >> it has short term it will cover all of the estimates of macro numbers for awhile, but i can't help but think five minutes after people say look at the huge impact of the shutdown, we're going to say that gives a pass for a lot of numbers and we're going to be able to say that was all shutdown related who knows what it means for the fed. when there's a live meeting in january, will they say we have

to wait and see or consider it a transitory factor, we're staying with the plan because financial conditions we worried about in december have improved a lot now. >> nancy, mike, thanks appreciate it very much. >> thanks. jpmorgan chase and wells fargo joining the earnings fray, both lower after reporting disappointing results and weighing more broadly on the financials wilfred frost is back at hq with more on both quarters. >> jpmorgan, they had two main disappointments. first, fixed income trading, especially in december that applied to citi yesterday as well, will likely also apply to bank of america, morgan stanley, goldman, sachs. that hurt jpmorgan's top line. second thing, they had high low loss provisions, and that hurt the bottom line. dimon said this was because they were growing, taking share, and

overall credit royalty was pristine he addressed shadow banks and leverage loans >> a lot of those folks are quite bright, kind of know what they're doing. someone is going to get hurt there. the issue there in the next recession isn't what the loss, remember, most major banks don't fund a lot of that leverage lending book is a much smaller book capital liquidity is higher. it is nothing like '07. >> wells fargo in fact had better than expected loan loss provisions and improving costs which led to eps beat. loan growth bounced back, growth in general remained lackluster shares lower when tim sloan, the ceo, said the asset cap would remain in place all of 2019. >> we're in complete agreement with the fed about what needs to be done. we're in the midst of implementing that. we're making progress, it is just happening slower than we

had originally anticipated we'll get there. >> jpmorgan started the day as laggard of the two it is now down a percent wells fargo down 2.5%. guys >> thank you when we return, microsoft announcing a partnership with walgreens boots alliance whale have what the ceos told me about the venture next "squawk alley" continues after a quick break. hey, batter, batter, batter, batter.

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microsoft announcing a partnership with walgreens boots. now, the two wouldn't put a dollar amount on the deal, but clearly it is big. walmart, for example, had a five year deal with microsoft announced in the summer. what's this about? for investors, it is the next step in the cloud era. integrating legacy systems, getting data to the cloud, trying to grow from there. i talked to satya nadella and stefano pessina, the two ceos about how they got here, take a listen >> in all of the partnerships as we are transforming our business to cloud infrastructure, ai capabilities as well as with microsoft 365, we are building a lot more of what i would call

industry specific layers, but in order to do that we still have many system integrators, many isbs that are coming together on our platform, so it is not just about microsoft but it is about being able to orchestrate that entire ecosystem of tech providers to help companies like wba transform. >> stefano, you said you don't see amazon coming in and eating your lunch, that you're going to be able to scale up technology faster than they're going to be able to equal your physical locations. how long have you got to make this partnership, this technology you're working on with microsoft work so you maintain what you see as that advantage over the likes of amazon >> we create another ecosystem and we live together we have never believed that

someone can monopolize the market we believe if you do the right things, you can thrive, even if you have hard competitors. >> satya, there are a lot of smart phones out there, wearables are increasingly part of the health care conversation. as walgreens boots alliance works to bring more customer data, better customer experience forward, how are you going to work with all those pieces as you drive the partnership with them >> yeah, it is a very important element. i think stefano described already a new reference which is all the partnerships that walgreens boots alliance has in the united states and the world over, come with a bunch of devices that people use, a lot of other software capabilities that need to be integrated

our role in all those cases is how do we bring all of this technology, all these partnerships and then focus them on chronic care management which requires multiple things to come together or advisory at the pharmacy where again multiple data sources need to come together that's the type of infrastructure, whether it is the core infrastructure, the core data layer, the ai layer or the experience, the applications that walgreens builds will need to tie it together that's where we have done a lot of work historically, that's what we'll bring to bear even in this context. >> we're in it now this is the enterprise ground game you saw satya nadella talk about how they're going to help these industry specific verticals work, bringing in partners by contrast, look at amazon, apple, what they do in retail locations, it is all their stuff. so they've got their back end

system, their application, their product on the shelves they can do that in-house. microsoft and others are trying to bring together different players to make it work. we'll see who gets there first. >> brings up a key question. in terms of bringing players together, does that mean there's opportunity for other companies to become partners in terms of logistics and building infrastructure, does it mean they're hiring more people internally >> probably all of the above traditionally in the enterprise, you've seen they have these vendors who are on there, all of the people come to conferences and try to build out the ecosystem with microsoft people that know how to implement azure and develop on the platform, et cetera. they're going to try to bring them into this, especially with health care specific knowledge >> interesting we got a downgrade of oracle today. i wonder if it is a sign that people are beginning to parse out who gets the spoils from all of this. >> i think there's an attempt to do that. it is still early. you have companies like oracle

that on one hand have deep enterprise legacy and expertise. on the other hand, cloud motion isn't exactly clear. one hand, they try to keep a lot in house with integrated hardware, software, database play they need to embrace others in the ecosystem to bring industry specific solutions microsoft clearly trying to say hey, we're in this game, we're winning these deals, come work with us in pharma, grocery, retail amazon had a big conference. they're working with a lot of these players too, just from a different perspective. we have to watch data and implementation to see who comes out on top. >> we don't know what the value of the deal was. >> we don't know watch to see when walgreens has these digital kiosks in store. that means they moved their system to the cloud, now they're able to build on top of it that's a benchmark how we know

if this is working. >> great stuff, jon. investors like it. shares of both companies are moving higher today. as we head to break, take a look at the worst performing stocks in today's session for the dow. home depot, dow dupont and 3m down greater than 1% don't go anywhere. alerts -- wouldn't you like one from the market

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the sec announcing charges in an international stock trading scheme that involved a hack into the company's corporate filing system known as edgar. that announcement was moments ago. sue herera has the latest on that >> yes, carl edgar stands for the electronic data gathering nalanalysis and retrieval system that's the system companies put earnings announcements or filing or news they want to release at a later point. the sec is charging these individuals with gaining more than $4.1 million by gaining access into that database, and as a result of that, getting nonpublic information before the

rest of the public and also investors. this apparently went on from may to october of 2016 guys, back to you. >> that's a long time, sue herera, thank you for bringing us those headlines >> you got it. administration officials telling steve liesman they have doubled the estimate of the negative economic impact of the shutdown he joins us now with more. hey, steve >> morgan, good morning. the trump administration now estimates the shutdown will subtract 0.3 points from the economy every week that's every week the 800,000 workers are on furlough. the previous estimate was the same amount, but every two weeks. the increased estimate comes from incorporating more effects from private contractors who are also out of work and greater impact from loss of other government functions the administration now sees a half point coming off first quarter gdp if the shutdown lasts through january. contrast that with mark zandi, in a research report yesterday,

he estimates a less severe impact half point if the shutdown lasts through march. and pantheon thinks it could go negative first quarter in part because the first quarter is seasonally weaker than the other three anyway some losses could be recovered next quarter when back pay is remitted to workers. ironically, economists lack some data that may tell them how much that's impacting the economy because several indicators are not being published. december retail sales report, including the christmas sales season, we'll get inventory data, durable goods, home sales reports. it makes it highly unlikely to get fourth quarter gdp report coming out january 30th, which is day two of the january fed meeting. they can't say when that gdp will be issued negative effects from the shutdown, you have the list. add to other worries trade tensions, global economic

weakness, waning effects of tax stimulus not looking good for q 1 >> we had guests yesterday shrugging off the impact i was asking how long before it hits markets seems like investors continue to look on the bright side, based on the range of outcomes. >> i think that's right. it is a question as to whether it lasts long. two things that happened some economists worsened the estimate because it is longer, and the administration saying the effects are deeper if you have two things, a deeper effect and longer effect, it could get serious. we'll see when or if the market focuses on this. >> for the sake of workers, let's hope we don't find out steve liesman, thanks. let's get back to sue herera with a news update. >> indeed, thank you here's what's happening at this hour a federal judge blocking the commerce department from adding a question on american citizenship to the 2020 census

a legal victory for critics that accuse the trump administration of trying to turn the census into a tool to advance gop fortunes the decision is expected to reach the supreme court. an iranian rocket carrying a satellite blasting into space, failing to reach orbit the u.s. says iran's launch plans demonstrate defines of a you know security council resolution that calls on tehran not to undertake activity related to ballistic missiles. the special envoy for syria meeting the foreign minister in damascus he is taking over. a big chunk outside the tap and see bridge has been demolished it opened in 1955, was a poster child for america's crumbling infrastructure you're up to date. that's the news update this hour back downtown to you guys.

we are getting numbers out of airbnb as we wait for an ipo. >> good morning, jon new numbers out of airbnb, growth is accelerating and another profitable year. 500 million guests, up from 400 million end of august last year. since founded in 2008. the company saying it was profitable for the second straight year, and as you mention, airbnb, one of the biggest, most anticipated ipos this year. back to you. >> thank you for that. after the break, crucial vote for brexit hours away parliament debates following theresa may's withdrawal plan. the market scenarios for both

outcomes are next. we have a lot more "squawk le straight ahead. dow up 66 points dow up 66 points stay with us hang on. radar that senses things the human eye can't. busted. and the ability to make a thousand decisions before you even make one. was all this, really necessary? what do you think? ♪

european markets closing a few moments ago against the backdrop of the brexit vote this afternoon. >> reporter: we had a bit of a carnival outside parliament in westminster, a lot of people opposed and in favor of brexit,

protesting ahead of tonight's vote we expect that to take place after 7:00 p.m. local, that's 2:00 eastern we expect theresa may will be defeated in attempts to put forward her proposal for their departure. this was a vote shelved almost a month ago in london. she was facing a significant defeat there looks like a similar story tonight. since then, very little changed. europeans made a few clarifications about details of the agreement that spooked lawmakers here, ultimately a handful of conservative mps said they'll back that vote, having been opposed to it, and very few inside the house of commons are expected to vote in favor of the withdrawal plans >> willem marx, thank you. i'm sure we'll see more of you as it unfolds and as we await the vote which is after 2:00 p.m. eastern. dom chu has a look at the market scenarios investors can expect for either outcome on

today's vote as well >> there are market expectations what the default outcome will be you heard him talk about theresa may, the prime minister's proposal will be voted down. but just what reactions could be is up to interpretation. let's look at some opinions out there about the forecast, what could happen in certain scenarios. john wraith talks about what happens if it is approved, not a likely scenario, but still, what could happen in that scenario. there could be recovery in corporate investment, that may be a positive thing. accelerated earnings growth and boost in consumption arise in the pound, and front end yields that's one take. what happens in the default scenario if we do not get something that happened today with regard to theresa may's proposal look at this scenario. eric nelson, wells fargo, expected outcome as parliament votes against theresa may's proposal the margin of defeat here

matters. how many vote against the deal could talk about at least market implications where the pound goes bigger defeat, perhaps bigger drop in the pound. what if a second referendum, no deal, happens. the pound drops. if no deal brexit happens, the pound will rise. and one more comment, bank of england governor, last week, in his first public comments this year, if the eu deal is preached, bank of england forecasts moderate demand growth, slight positive, smooth transition for brexit means smaller hit to uk incomes, disruptive withdrawal which is what a lot don't want means more pessimism, further depreciation in the pound some market scenarios, morgan, and how the market reacts, the pound will be front and center when it comes to market reaction morgan, back to you. >> indeed it will. thank you for that dom chu at hq. jpmorgan ceo jamie dimon

doesn't think it will be a hard brexit the pound softening as we await the decision in a few hours. joining us, financial times u.s. managing editor, jillian ted great to speak with you. this has been a complicated one to follow in large part because of the what if scenarios in terms of how you cover this and think about it, what happens if as largely expected parliament votes down this deal? >> well, complicated sounds like british understatement frankly hellish. the reality is we don't know one of the reasons the markets haven't overreacted is because the balance of probabilities on both sides is evenly balanced. the most likely scenario is that if theresa may loses by less than 100 votes, she will soldier on and keep going. she's absolutely a british bulldog who keeps going no

matter what. if she loses by more than 100 votes, could see no confidence vote, we could see rebellion strong market reaction theresa may will still keep going, but it will be increasingly hard to pretend this deal has any chance of going through. what's interesting, a third of the markets, some of the rivers markets, people are starting to hedge bets against extreme outcomes the problem is it could be extreme the other direction. it is entirely possible it leads to no brexit, it is possible we end up with hard brexit, and of course there's the corbin factor >> map out what would happen if we were potentially to see that worst case scenario of hard brexit or no deal. there's been a lot of talk about

how terrible that could be, disastrous that could be for the uk economy if you look at the economic data for the uk, while some is softer, it hasn't been nearly as bad as economists anticipated thus far >> no, thus far, nothing much has happened in the uk if you're optimistic, you say that shows it doesn't matter that much. the whole thing is a storm in the tea cup to use a wonderful british phrase but the reality is nothing much happened in my view because most businesses have been waiting to see what on earth is going to happen no one wanted to spend money moving operations out or stockpiling supplies until they thought it was absolutely necessary. that is just now starting. if we have a hard brexit, what you'll see almost certainly is a large number of trade industries and businesses start to panic and stockpile. you may see consumer reaction as well, already seeing the government trying to position

itself, ready to try to calm down consumer panic. for my money, the thing you have to watch and which a lot of people in thegovernment in washington are watching nervously is the potential, tail risk as steve mnuchin calls it for unexpected financial system consequences because although we have embolden announcement made a couple weeks ago that brussels will try to deal with derivative problems if there's hard brexit, people are worrying about if they put the other types of details in the financial system that start to be impacted in brexit that no one thought about, a bit like the lehman brothers shock let's hope we don't go anywhere near that. >> i could ask you probably a dozen more questions i'll leave it with this. does theresa may leave >> does she leave? not willingly. she is not for quitting.

the lady is not for turning said margaret thatcher. she has the same view but she may be forced out. >> jillian tett, thank you for joining us >> thank you. shares of netflix surging this morning after the streaming service announced plans to raise prices julia boorstin is in l.a. with the latest. >> jon, netflix is raising prices between 13 and 18% for the 58 million streaming subscribers in the u.s. and latin america. the price with the biggest plan has the biggest increase while the highest cost plan is increasing by $2 this will impact new subscribers, and existing subscribers. netflix saying we change pricing

from time to time as we continue investing in a great entertainment and improving the overall netflix experience for the benefit of our members last year they spent $8 billion on content rivals, hulu, hbo and amazon ramp up spending netflix faces new competition from disney and at&t streaming services, and nbc universal announcing yesterday that it will introduce an ad supported free service in 2020 as to how netflix's price hike will impact subscribers and bottom line, credit suisse saying it bolsters confidence in subscriber trends, pace of revenue growth and ability to achieve guidelines the company shares are up over 90%. today's move speaks to netflix confidence that hit films and shows will convince consumers it is worth paying a little more.

jon? >> julia, thanks as we head to break, take a look at the major averages all in the green the dow is up about a third percent, s&p is up about three-quarters percent nasdaq is doing best of all. 1.3% qualcomm is down ayitusthmo up e st ayitusthmo up e st st wh select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, with td ameritrade. ♪

very busy tuesday on the halftime report. tech taking off. you should get behind biotechs morgan stanley with three picks they're telling you to buy now and superstar analyst stephen tusa writing about ge again. the bulls aren't going to like it new buys and sells from bill nyegren and jim cramer all of that when halftime report starts at the top of the hour. carl, i will send it back to you. >> that's a show, brian. see you in a few. let's go to the cme for the santelli exchange. >> good morning, carl. welcome my first guest of the week as we were talking off camera, the real issue is there seems to be something missing we know there's not a systemic issue slowing the economy, but

we are slowing globally. we don't seem to be going back up to 3% growth. what is it that is our impediment, do you think >> i think the first thing, what's still there is consumer spending consumer spending with and without auto, 4% type of growth rates in retail sales. what is missing and has been is acceleration of capital spending from mid single digits to something higher that gets us and keeps us above 3% growth levels the capital rates spending, it is muted, there's concern of trade and what trade dynamics look like the next knfew years. the soft landing, growth slowing in the u.s., but not going into recession and something that looks similar to post crisis 2% plus or minus gdp >> when you turn the heat up on a pot of water and the heat being turned up is the u.s.

normalization, the globe is creating less stimulus, saying sink or swim on your own as we turn up the heat, everything is moving faster. as we were discussing, none of this should surprise anybody these are normal events in a rise cycle >> the market is wrestle with the fed has been on the normalization path we knew it was going to bite and we would see the slowing i think we figured out we would reach that level where the spillovers backing into the real economy. it's weird talking about, the fed gets the message that's been the message from chairman powell. >> doesn't mean they're done it means they will wait and see what they've done thus far affected strategy of more nor l normalizati normalization. they will be more data off the preset quarterly cycles. we think stability in the market >> you brought up a healthy consumer last week we had consumer

credit it's over 20 billion there's a good pace there in every regard my final question for the final minute is an easy one. capital spending isn't like an option in that fit where after so many days it's gone it dies. it will be ongoing and there's no real limit. when conditions change and visibility for ceos change, it's possible that capital spending will be another boost, is it not. >> capital spending is one of the most vulnerable categories in the gdp accounts. you have a good base of global growth and spending in the u.s i think you need results and uncertainty about where china and your growth sending up and some of the trade issues there are positives for the second half of the year and maybe into the spring. >> steve has pointed it's been difficult to pull out some of these trade issues on having

direct effects your final thought >> that's right. with these uncertainty, where do you build your plan in is a big economy and we think in decent shape. >> thank you for your thoughts today. morgan, back to you. thank you. as we head to break, an update on major banks with earning season fully under way now wells fargo is the worst performing financial jpmorgan turning positive moments ago. up half a percent and citigroup is up 4% now 8% so far for the week the dow is up 93 points. alerts -- wouldn't you like one from the market

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fidelity. i am a techie dad.n. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience.

my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. dow up 100 check out the gain for netflix we're back in a few minutes.

aging nominee william bart testifying in his confirmation hearing today. he says the purpose of the anti-trust law is to protect competition at the same time i'm sort of interested in stepping back and reassessing how the anti-trust division has been functioning i don't think big is bad but i think a lot of people wonder how such huge firms have taken shape under the nose of anti-force informers. no names per se. that's an interesting comment. we should keep watching squawk alley.

academy award winning screen writer thinks it's time for a sequel to his mauve the social network. he has received more than one e-mail asking if it's a time for a part two to the story of facebook it got eight oscar nominations he said i know a lot mf about facebook in 2050 than i do in 2018 but i know enough to know there should be a sequel i think so too a documentary. we're still many the middle of the story. >> maybe it needs to be a trilogy. it comes on the heels of blistering criticism about the role in the erosion of traditional news media that stock is higher >> delta airlines trying to erase its losses tomorrow it will be b of a on

black rock for the time being session highs. dow is up 142. got 2608 on the s&p. and tech has been killing it all morning long let's get over to the half welcome to the halftime report i'm brian sullivan in for scott wapner jpmorg jpmorgan's numbers are front an center we tracking big numbers in the nasdaq that green simplifies the show is open for our interpretation it's meta physical >> let's