crime and drugs and weapon trafficking. also human trafficking which has really become something that has come to the forefront of crime horrible, horrible situation. we look forward to an even deeper partnership in working together in our meet beiings we also discussed our strong economic ties grounded in thel principle of fairness and reciprocity. my favorite word, reciprocity. we're committed to producing trade barriers and supporting innovation across a range of industries particularly energy, infrastructure agricultural and technology the president's willingness to free the economy is a right way for brazil to achieve economic growth and our great countries are ready to go when the table is flat and free to improve our business

relationships, we have revived the u.s./brazil ceo forum and we have started a new u.s./brazil energy forum we welcome brazil's aspirations to join organization for economic cooperation development, a laudable goal and one that will make brazil's status as a developing and developed country. we hope all of us will be able to work together and i'm also pleased to announce that after 20 years of talks, we are finalizing a technologies safe guard agreement to allow space launches from brazil that is actually an incredible location when you study it and when you see it. we won't go into it now, but because of the location, tremendous amounts of money would be saved to put it very simply, the flights are s are a lot shorte.

its proximity makes it an ideal launch location. my commitment is to our legacy in space and we're working together with everybody on space force. and we are grateful for brazil's partnership. mr. president, thank you again for the honor of your visit today. a strong and thriving friendship between the united states and brazil is essential to a future of security and prosperity for all of our citizens. it's been a wonderful time getting to know you. you are doing a fantastic job. brought the country together and i look forward to working with you in avery close relationship for many years to come thank you very much. mr. president. thank you very much. >> translator: your excellency

mr. president, donald trump, president of the united states of america, my cabinet ministers, members of the delegations joining us in this session today both from brazil and from the u.s., ladies and gentlemen, media professionals, other guests, thank you very much president trump for your warm hospitality it is an honor for us to be in washington as part of my first bilateral trip ever since i was elected president of brazil. i would like to use the opportunity by the way to invite you to reciprocate this visit because you will indeed be very welcome by the brazilian people. we do share a great deal in common i have always admired the united states of america and this sense of admiration has just increased after you took office at the presidency this meeting of ours today

restores an old tradition partnership and at the same time to starts a new chapter of cooperation between brazil and the united states inasmuch as today we have revisited and have again decided to promote matters that were on our order of business for decades it is time to overcome all the resistance and explore the opportunity that is there between the united states and brazil it is fair to say that brazil does have a president who is not anti-american which is unprecedented in the past few decades. the reforms we are currently undertaking have changed brazil into an even more attractive country. we are strongly committed to striking a proper balance in government accounts ands of course totally changing the business environment u.s. support to brazil will be construed as a gesture of mutual

understanding which will be very emblematic as part of the closer ties we as hire tpire to. that is why we have decided to restore the ceo forum between brazil and the u.s we also intend to attach priority to relaunching an energy forum with an emphasis on oil, gas and other sources of energy.brazilian government has granted full visa exemption with further encouraging tourism and business travels on the space and defense cooperation work front, we have signed a technologies safeguards agreement which will in turn enable the satellite launch center, military cooperation has also expand ed as we seek out partnerships in the development of different systems science, technology and

innovation activity can certainly be expected to take on an increasing role as part of our bilateral agenda efforts to tackle terrorism and organized crime is a matter of utmost urgency for our two peoples. we have decided to strengthen our bilateral security forum and do more against money laundering and drug trafficking establishing democracy is also a shared interest. the dick tore yam regime in venezuela today sparks of a broader international coalition known as the sao paulo forum by democratic means we were able to rid ourselves from that project in brazil. in conclusion, may i say that brazil and the united states stand side by side in their efforts to ensure liberties in respect to traditional family

lifestyles, respect to god our creator against the gender ideology or political incorrect attitudes and against fake news. drawing inspiration from ronald ragan, i wish to bring to brazil his administration's style as summarized in the following citation people should say what the government can do and not the other way around the united states changed in 2017 and brazil has just started to change now in 2017. where he stand together side by side to the ultimate benefit of our two nations. we want to have a great america, yes, and we also want to have a great brazil once again, may i voice my admiration and recognition to president donald trump on this beautiful day where we seal a promising alliance between the two, most promising largest democracies in the western hemisphere may god polibless brazil are any god bless the united states of america.

thank you very much. >> we'll take a couple questions. roberta, reuters >> thank you very much, mr. president. on venezuela, you did the tough sanctions and you sent the aid but it seems like maduro is no closer to eaving and i'm wondering if you are getting worried about losing momentum and how long are you being told that this is going to take >> i'm not being told any specific time. they have been there is a long time between him and his predecessor. at some point i would imagine things will change but we really haven't done the really tough sanctions yet we can do the tough sanctions and all options are open so we may be doing that. but we haven't done the toughest of sanctions as you know we've done i would say right down the middle. but we can go a lot tougher if we need to do that but it is a very sad thing we're not looking for anything other than taking care of a lot of people that are starving and

dying in the streets this was one of the wealthiest countries in the world and all of a sudden it is grief stricken, abopoverty stricken, o food, no water, no air conditioning, no anything. no power for a long time last week no power and that will break down again because it is being held down by threads. so very sad, roberta >> may i ask president bolsonaro, are you open to the idea of allowing a u.s. base or u.s. military personnel, military presence in brazil to provide support on the border with venezuela and is that something that you talked about with president trump today >> translator: yeah, we have discussed the possibility of brazil becoming a great allied

extra nato recently we requested that food was sent through our friends from america so that humanitarian aid was provided to venezuela. at this point in time, this is where we stand for as much as it is possible for us to do together to sort out the issue of the venezuelan dictatorship, brazil will be more than willing and ready to fulfill this mission and take freedom and democracy to country which up until recently was one of the wealthiest countries in south america, but nowadays people are starving to death, they are suffering violence, lack of medication it is something terrible that is going on and we need to put an end to this issue which is pervasive to the whole wide world

>> translator: hello, from bloomberg. i'd like to know if the u.s. actually have a military intervention in venezuela, what is the position of brazil? well, there are a few issues that if you speak they are no longer strategic therefore, these issues which may be discussed if they have not yet will not become public evidently. i remember on a debate here in the united states when a candidate asked another candidate what he would do to fight the islamic state, he said if i say, i will no longer be able to beat it. so it is a matter of strategy. for everything that we discuss here will be honored but unfortunately, certain pieces of information if are to come to the table may not be debated publicly

president trump, regarding the military intervention, do you think about this possibility fighting venezuela to remove maduro from power? >> as i said, all options are open i think of all possibilities all options are open we'll see what happens and by the way, i see in the audience the son of the president who has been fantastic. would you priest stand up? t -- please stand up? the job you've done is fantastic and i know your father appreciates it that i can tell you. thank you very much. sager, daily caller. >> that you thin >> thank you there is a growing number of democratic candidates who have endorsed the idea of adding seats to the supreme court is that an idea that you would entertain in the remainder of your term or possible next term? >> no, i wouldn't entertain that the only reason is that they

want to try to catch up. so if they can't catch up through the ballot box by winning an election, they want to try to doing it in a different way. we would have no interest in that whatsoever. it will never happen it won't happen for six years. >> another question for you on social media you tweeted in support of congressman nunes's suit against twitter. there is a larger discussion about making social media companies liable to the content that is on their platform which they are not currently is that an idea or a change in law that you would support >> we have to do something i tell you, i have many, many millions of followers on twitter. and it is different than it used to be. things are happening, names are taken off, people aren't getting through. you've heard the same complaints it seems if they are conservative, if they are republicans, if they are in a certain gripe, there is discriminati

discrimination i see it on twitter and facebook and others but i really focus more on the one platform and i have many different plats forms. i guess we have 60 million, almost, on twitter and if you add them all up, it is way over 100 million people an i get to see firsthand what is going on. and it is not good and we use the word collusion very loosely all the time. and i will tell you there is clus with respe collusion with respect to that when you get the back office statements made by executives of the various companies and you see the level of in many case mate tre hatred they have for a certain group of people that happen to have won the election, you say that is really unfair. so something is happening with those groups of folks that are running facebook and google and twitter. and i do think that we have to get to the bottom of it. it is company clus sif aollusiv

have to do something about it. and if we don't, the incredible thing is we can win and election and we haveny collusive and we have to do something about it. and if we don't, the incredible thing is we can win and election and we have such a stacked net. and that includes the networks i call it fake news. i'm very proud to hear the president use the term fake news but you look at what is happening with the networks, you look at what is happening with different shows. and it is hard to believe we win. but i tell you when it really shows, the people are smart. the people get it. they will go through all of that whatever it is they are fed and in the end they pull the right lever. it is a very dangerous situation. so i agree, i thinks some has gone to be looked at very closely. president bolsonaro, another question on the 2020 election. a number of democrats running to replace the president have embraced or considered socialist ideas. you have spoken critically of that in the past

if a candidate who embraces socialism were to embrace the president, how would it affect your relations with the united states >> translator: well, that is an internal affair. we will respect whatever the ballots tell us on 2020. but i do believe donald trump is going to be reelected fully. >> thank you i agree. >> translator: yeah, this was the same what happened to me i think everyone will repeat their vote here in america so every day more and more people that are prone to socialism and even communism slowly are going to be opening their minds to the reality and you can see the border with venezuela and brazil was recently closed. not for brazilians which are pro socialism to go into venezuela, because the other way around so is that venezuelans who support democracy wouldn't go into brazil

this feeling most certainly is going to be very much seen when 2020 comes >> mr. president, thank you very much go ahead, you want to go you look like a nice person. go ahead this will be the killer of all time watch. >> thank you, mr. president. the u.s. is not supporting the entry of the oecg. is the u.s. government going to formally support brazil's entry and what have you asked as a tradeoff >> we will be supporting we'll have a great relationship in so many different ways. that is just something that we will be doing in honor of the president and in honor of brazil we will be asking for things, but not necessarily having to do with that. i think we'll just have a very fair relationship. >> thank you and president bls their ro bols >> thank you >> translator: does the united

states expect the influence of china into brazil? yesterday pal low mentio mentioi would incentivize. >> like i said, brazil will keep on making as much business with as many countries as possible. no longer business going to be found into the ideology as it used to be we are all following this objective for the good of our peoples. >> thank you very much, mr. president. i appreciate it. and thank you, everybody thank you very much. china is going very well talks with china are going very well thank you, everybody thank you. president trump wrapping up his news conference with brazil's president and let's bring in michelle caruso-cabrera and also on you

are our analyst. donald trump answered a lot of questions about venezuela. he blurted out at the end that talks with china are going really well. but i thought the comments about venezuela were very interesting in terms of the sanctions and military intervention is on the table. >> so he has been interested in this for a long time going back to his first meeting at the u.n. general assembly when he first got elected. he proposed the possibility of a venezuelan invasion and they all told him it was a bad idea, but something that he has talked about for a long time and he always says all options are on the table. bolsonaro wouldn't go there. he would just use the classic line of if we told you what we're going to do, all the surprise is gone but that is a constant question as we see whether or not made did your rmaduro is ever going t leave, will they eventuall boots on the ground to dislodge him. so we'll see how long it goes on for.

>> eamon javers is also on scene there listening to those comments from the president. for our audience at the very end there, his remark that talks with china were going very well, a bit of a rebuttal to the reports on the wires earlier today that saw the markets selloff that perhaps the chinese were pushing the u.s., not wanting to be pushed by the u.s. on a few points. >> reporter: that's right the president wanted to send a signal that trade negotiations are going well he said that consistently throughout so the president doesn't register these smaller level blips. they don't necessarily rise to his level perhaps. but i thought it interestingly he was sending a signal here to the social media executives facebook and twitter particularly on twitter the president saying his own experience with his millions of followers is he feels that there are conservative voices being blocked on those social media platforms. and he would like to see something done about it. he wasn't very specific about what ought to be done and he didn't answer the question posed which is should the social media

companies be liable for the kept that appears on their platforms, the president simply complaining that he feels conservative voices are muted and that he feels that the leadership of some of those companies have a bias against conservatives despite the fact that he won the election and his side is currently in power so that was an interesting i thought analysis by the president of sort of where the sildly c solely c silicon valley landscape lies. so if you were a ceo of those company, you have to come up with a plan to handle a washington, d.c. where some efforts might be under way to change the relationship. >> i thought that was a very interesting comment as well. and listening to the question that led in to that response, i actually walked away thinking that he did support some sort of legislation that would be much more toothsome than what may or may not currently exist. jimmy, what is interesting, you take a look at for instance trump's comments on china and the overall markets, the last comments he made walking out of

that rose garden was about china trade talks going well, the markets didn't really react that much his comments about doing something withsocial media, we're not watchinged social media stocks react very well feels like a different impact this president has compared to a year ago >> there has been so much trade news and so much up and down we're getting close to an end. i think it is tough to gauge what is happening with trade but i think the social media stuff which is somewhat new every thing that the president has been focusing on and again going after google and facebook in a recent tweet. and this really reflects something happening in washington you have a lot of republicans who don't like these companies, thinkbiased, would very quickly i think withdraw their protection from liability. they don't want that shield anymore. so the fact that the president continues to talk about it, i would take that very seriously

as i'm sure they do, you know, mark zuckerberg, twitter, google because this issue is not going away republicans will continue to push it and push it hard. >> and so are democrats by the way. democrats also don't like the social media company >> for a different reason. >> but they have bipartisan trouble regardless of why. they are getting it from both sides. so they have major issues. >> one question, the status that brazil will have as a major nonnato ally, how significant is that >> that gives them priority when it comes to military delivery, they could get help with financing. what they don't get is the mutual defense pact, the core of nato is article 5. if someone invades you, we will defend you and protect you with military presence. that is not part of the major nonnato ally but there are a lot of other countries that have that status. saudi arabia, japan, korea, afghanistan was given that status under president obama for

example. >> they certainly seem like they have a very close relationship foreign policy experts have called bolsonaro the trump of the tropics. >> i think he calls himself that >> and is it really deep, will this extend to actual for instance trade agreements or is this all the sort of glad handing that trump likes to do >> no, this is so different to hear from brazil, to hear a brazilian president say i have always admired the united states of america is an astounding thing because they have been so leftist for so long. he is excited about doing trade with the united states in the fast former presidents have always been concerned about standing up to the neo liberal imperialists of the north america. et cetera. this is very different >> it was almost sink company fan tick the way he came off pnd

and i think that he will win the 2020 and trump gave that sort of swat away, oh, president bolsonaro -- >> more, more. he didn't say a landslide. listen, if there is anything leaders have figured out that a little bit of flattery, maybe a lot goes a long way when dealing with this president. >> but i would say it is very gwenn w genuine in this case he's mimicked him in many ways the way he campaigned, the way that he was on twitter i think it is very genuine that he admires trump >> and is what michelle is striking with brazil and their effort to look to the u.s., brazil has previously been a big client of china's. bls the bowles narr bolsonaro says we're each for business is there a shifting of balance

>> i think china has been very aggressive as promoting a different kind of economic and political model. so is there a country especially ones perhaps won't as admiring of the united states in the past who now see the u.s. as a model? i think that is great news >> jimmy, michelle, thanks eamon javers, appreciate it. stocks giving up big gains on reports that china is walk back trade offers, that was a little earlier today the president just responded to that the fed also kicking off a two day meeting on interest rates. let's get down to bob pisani on the floor. >> markets trimmed the gains after the bloomberg report.siti pisani on the floor. >> markets trimmed the gains after the bloomberg report i see this all as a good sign. to me it is a sign that the china deal is in the final stages of the talks. china really wants assurances that the tariffs will be eliminated as part of a deem we all know that

that will be the sticking point. treasury move mnuchin is going to beijing next week so this is all gets down to the nitty-gritty and we've seen the market rising today. this is the well-known fed drift in effect, the tendency of the market to rise in the 24 hours before the fed meeting that was going on until we got the headlines. elsewhere most important thick on t thing on the day, fedex reports. we've seen weaker global air freight trans and we've seen weakness china so expectations for fedex are very low and the question is whether there is any further deterioration. it was down 30% in the fourth quarter. so a lot of bad news is already priced in. it has bounced a little, but much this is the stock to watch after hours. coming up, we're less than 24 hours away from the fed's

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hello, everybody here is your cnbc news update. florida prosecutors have offered to drop charges against new england patriots owner robert kraft and a number of other men charged with soliciting prostitution however, that is only if the men admit that they would have been proven guilty in a trial the agreement also calls for completion of an education course on prostitution and 100 hours of community service president trump's two supreme court appointees are on opposite sides of two of three cases that the justices decided today. in one of the cases, neil gorsuch joined the court's liberal justices in a ruling that a washington state indian tribe does not have to pay a state fuel tax cavanaugh dkavanaugh disacceptd. beto o'rourke told a crowd at penn state that fixing climate change and immigration are the top priorities >> not only can we ensure that

every single within of those separated families is reunited, we can rewrite our immigration laws in our own image, in the image of our communities free more than one million dreamers from any fear of deportation. >> that is the news update i'll send it back to you guys. a big intra day drop for the dow as headlines crossed on china trade talks. let's bring in kayla tausche with the latest. >> we just heard the president say that the talks with china are going very well. that has been the official white house lynn on talks for the last two months but this of course comes as you have one report from the "wall street journal" saying that there are two more rounds of negotiations scheduled, one in china and one in the u.s. to follow that over the next two weeks. and then a report from bloomberg saying that there is some concern among u.s. officials about the level of pushback that china has been demonstrating based on the u.s. demands on

things listructural issues and enforcement. so will there be a deal? there are a lot of different estimates. people say that there could be a meeting in mid april at mar-a-lago there could be a state visit in washington in late april or this could all be shelved until the g-20 with one official telling me it is unlikely that there is a meeting in april. there are still questions about what exactly this deal looks like what structure all commitments will china make. on the purchase portion of this to lower the deficit, how much can china really do especially if that part of the deal excl e excludes any boeing 737 max jets and then of course what sort of terr tariff relief there will be. the administration has not wanted to have all go away >> all right thank you. we are less than in hours away from the fed decision on interest rates and the key focus will be what the fed thinks about economic growth. steve liesman has the results of a cnbc fed survey.

out look for growth is coming down let's talk about why this is happening. let's take a look at what happened in 2018 we hit 93% mark, 3.1% q4 over q4 but it is coming down, 2.3%, slowing pretty sharply and seeing just 2% which is wright around to be potential growth for 2020 and this group did a pretty good job, our 43 economists of forecasting growth in 2018 unemployment 3.8%. right around where it is and cpi maintaining around 2%. looking at the chance of recession, well, it is still high, but we got a break the market did very well while it thought recession was a low probability. it has come up above the long run of the survey here but 24%, it is finally down. but still elevated and that is partially because of things like the global slowdown and trade. we asked what role are tariffs playing in the global slowdown

45% say significant, 48% say it is modest. what about the effect on growth? taking 20 basis points off of growth and tariffs and 30 basis points from the global s slowdo. so it all shifts down. look at november, market was doing great. that is where you not the fed was going above 3% that has all come down 50 basis points of tightening is out of the thinking about the economy in the future. chief economist at point l loehmann with inflation benched, the fed does not need to contribute to any march madness. it can monitor brexit, u.s./china trade talks and signs of a weak or stronger domestic economy, so patient is the word. fears about a slowdown are

just one of the risks for investors here, but markets have been on a tear lately. so joining us now, liz young and jo john bellow. liz, what is your reading on the fed and how it keys back to the stock market >> what the market needs to see is some kind of positive catalyst, whether from fed or trade or some other development with all of these expectations being revised downward in order to keep the rally going, they really need to see something better that will come out of it. and what i think they would like to see out of the fed is more confirmation that we will stay on hold and hopefully we get some kind of signal on what they will do with the balance sheet >> and john, there has been a lot of focus again on the unusual nature of the yield curve. you have one year treasuries barely yielding below ten year treasuries what is the fixed income strategy right now >> one thing i would say is not only growth expectations have come down, but the fed is done

with their normalization they are now talking about supporting inflation expectations they are worried about inflation on the down side, they are talking about down side risks. so i think we've already seen the fed change and i think that we will see more of that tomorrow and i think that is a big factor so it is not just the growth expectations have come down, it is the fed has changed the fed is more dovish than they were and i think that that is a big deal in terms of what is the opportunity right now, i think there is more opportunity in the spread sectors than there are in treasuries spreads are still somewhat wide relative to treasuries but i think that i would really focus on that shift from the fed, we think that is in place we think that has happened and i think that will be support difference of a lot of things going forward. >> liz, with the s&p 500 roughly 34% away from its record hays, is there anything else the fed can do at this point that could keep this rally going, or to your point does it have to be external factors such as developments on trade? and is there a point at which you think the fed can be so

dovish where it actually turns into a bearish signal for the markets? >> i would start by saying that i agree with john that the fed has already shifted. and that is really what has supported markets through the beginning of this year into the end of last year, we had so much fear in the markets and the only thing that changed really in december and january was the fed rhetoric so that has driven us up so far. it is beyond what we expected for the full year. so i wouldn't be surprised to see a little bit of consolidation and pullback before we might reaccelerate toward the end of the year so is there a chance that the fed could make a mistake so to speak? i think the markets are pretty sensitive to policy errors and there is a pretty big chance that the market will hang on every single word that they say tomorrow i don't know that they can get too dovish i think one of twould bone of tf we had inflation that the market

didn't expect, i think the fed could come back to the table and markets wouldn't like that >> and it was interesting what rick santelli said how expectations were in a way still so cautious that investors realize i'm not going to get a good opportunity again, could you get people starting to jump back in? >> from the fixed income perspective, so fixed income focused shop, there is still an opportunity here we're looking at ig spreads that are still 30 to 40 basis points wide of where they were this time last year concentrated in some of the b bonds where there is chatter we think there are high quality questioned credits. and to rick's point, as global growth stabilizes a little bit and the fed on hold becomes more entrenched, i do think there is an opportunity and i do think especially in some of the spread sectors and carry trades would do quite well in that environment. >> all right, john, liz, thanks.

speaking of rick santelli, he is out at the cme looking at the action in the bond market. hi, rick >> hi, kelly you know, there is a lot of good trade in the bond pit. but the first day of a two day fed meeting isn't shaking it out of its range as a matter of fact, i still harken back to january of 2018 on tens because we're still a handful of basis points away from challenging yields from that time period and we continue to bump along in the low 260s with periodic trades underneath. remember, 255 is the low yield close going back those 14 months and that great spot you just did, there was talk about what is going on in the credit spreads. and there is a lot of talk on this floor people are getting a bit nervous. a lot of corporate debt out there. but i'm seorry, i don't see any flashy yellow. you can see barclays has tamed and if we include all the major crises over the last two deck i

had as, a 20 year and ychart an see we are well below any areas that historically deserved some anxiety. and finally, if you didn't like to watch the barclays high yield credit spreads for the security side, let's go to the etf side here is a one year chart, at the best levels since october. higher it goes, the less nerv s nervousne nervousness. so at least at this point we can worry about default rates and corporations needs to reissue large swathes of paper, but at this point in time, it is a bit nirvana. debt doesn't seem to be stirring much and of course the fed kind of on the hammock for a while. back to you. >> great context thank you. after the break, calls to regulate social media streaming competition heating up and instragram moving in to retail the big tech stories you need to know about today o oris the largest contract in

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new details in the battle between bezos and the "national enquirer." michael sanchez the brother of bezos' girlfriend, lawyer, sold the billionaire's secrets to "the enquirer" for $200,000. that material includes the racy texts and photos bezos september to his girlfriend. the report also includes details about a blowup in a restaurant between inquirer opublisher davi pecker and general counsel for media that led the lawyer to leave the company immediately. >> and this revelation tells you that the theory that jeff bezos had that this was perhaps even trump related, that there was someone in the government involved in decoding these messages, this was the brother >> much more straightforward than this. and the ironic thing is the brother could have just said give me $200,000 -- >> or more >> and i won't send the pictures anywhere >> not a great start to the relationship let's get to diana olick

>> a lawsuit was filed this morning against peloton by music publishers they allege infringement of more than 1,000 works and they are seeking damages of over $150 million. we do want to note that comcast nbc universal does have an interest financially in peloton. that said, peloton said we just received the complaint this morning and we are evaluating it peloton has great respect for song writers and artists and have partnered with each of the major music publishers, record labels and many leading independents we have also invested heavily to build a best in breeze reporting and licensing system to provide our members with a word class fitness experience the music of course is a major part of their live streaming you can see the songs come up on

the screen now you are able to make playlists out of the songs this group is claiming patent infringement >> all right thanks very much and meantime facebook is saying video of the mosque shooting was viewed 4,000 times before being removed, but the spread of it is sparking calls to hold the tech giants more responsible. >> and this is something that we are hearing a lot about both out of the new zealand and out of europe and here in the united states governments across the world are talking about the importance of holding both facebook and youtube accountable not just when it comes to things like privacy, but also the spread of either offensive information, data like these videos that should not be shared publicly, or fake news so this is one of the issues that facebook and u tub increasingly will be pushed to be on top of and there is talk out of the uk about fining them just like you would if there was a violation of data privacy rules. >> a huge scale.

i mean they talk about a 1.5 million videos of being uploaded of this. how much do they have to throw at this problem to solve it? >> this will be a big one. facebook has talked a lot about thousand they have 30,000 employees focused on safety and security so not just about issues like this one and identifying offensive material, but also about data privacy this will be a combination of humans and artificial intelligence but it is worth noting that facebook has been on the defense for a number of these issues we just got news out of facebook that it is basically part of a settlement with the aclu, but they say they are doing more to protect against discrimination in housing and employment and credit advertising an issue of how you can unfairly target people whether putting on an ad for an apartment so facebook has a lot of issues baked into its model that they have to figure out >> exactly being curbed both on the video uploading and now ad targeting julia, thanks. mike trout about to become

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a new record breaking baseball contract. er eric with the amount of money mike trout could be paking. >> the reports is he'll re-sign with the los angeles dodgers, $430 million paid out over the next 12 years. that's $36 million a year. it would be the largest deal in the history of professional sports and it would be much bigger than the $330 million we just saw bryce harper sign a dfew days because he was saying when trout's available, i want him to join me in philadelphia and i think the angels realized maybe pay him the money right now and doesn't leave teams. he makes $34 million as it is and only a $2 million salary increase. >> true. >> but getting 12 years of it. >> and we are looking there at

the biggest sports contracts baseball we have seen this escalation is this because of the tv money they have? >> $150 million a year just in their local tv deal. it is the second biggest across the league it is the l.a. market. they make a lot of money, very valuable team. a 20-year tv deal and they can pay him out for the next 12 years. >> wow eric, thanks. >> you got it. >> quite a story our next guest has a great read on the economy and the consumer hanes brand has hanes, champion, playtex and maidenform and make march madness apparel. shares up 40% so far this year here for the exclusive is gerald evans of hanes brands in winston salem, north carolina. great to have you with us. march madness, apparently going on or about to start so i understand. but in terms of just the market that you serve, how defensive are the products that you serve and do you actually see that and

purchases or the products you sell track the strength or the weakness of the economy? >> well, we like our product categories they're consistent categories from a purchase standpoint and they're needed in good and bad times and think they're stable categories that don't tend to fluctuate with the economy. >> are you capped in terms of how much to raise prices what are you seeing in terms of input costs and rising wage costs? >> we have seen some input costs rise in the last year and we have recently implemented price increases and we price to maintain our margins over time and we've recently implemented pricing to maintain the margins. >> how quickly do you have to move you guys make the march madness apparel with t-shirts, hoodies, fleeces and hats these names were just announced sunday the games begin in earnest thursday how quickly can you turn this around >> well, we have been the exclusive partner with the ncaa since 1998

we have a great structure and right after the teams are announced our artists go to work we have 50 artists that work through the work develop designs and have it on the product floor in the factories and shipping in 48 hours and then they do it the next night for the women's championship and then they do it every -- from 16 down to 8 teams and 4 and 1 and it's an incredible model. >> you have a promoeg goition go with bonus packs of hanes men's underwear with the michael jordan trading cards he's been a spokesperson for your brand do promos send the underwear flying off the shelves >> you know, michael's been a great spokesman for the brand and we have a promotion, trading card promotion in place with five packs of trading cards of various pictures of michael in the commercials with us. inside those 800,000 packages

and they do draw attention we'll run media and creates excitement of the brand and more trial of the products, as well. >> is lebron next? >> we love michael at this point. >> we like mike. i remember that one very well. >> are we going to see a bump and look back and see a bump in sales because of march madness >> well, we really do believe that we have a lot of benefit from march madness with the promotional effect and our champion brand is tied to the products that we put into the venues and the champion brand is performing very well right now and does drive additional sales for us right now. >> you have to have fierce brackets going on at your company right now. i can't imagine what people do right now. >> we have a big focus on brackets and who's going do win and sell the most product and then in our heart we favor the north carolina teams because we are located in north carolina. >> appropriately so.

gerald, great to have you with us thank you so much. >> thank you stick around check please is next measure up? a cfa charterholder does. you've worked hard to grow your wealth. make sure you're working with a wealth manager who can grow with you. cfa charterholders have the investment expertise to unlock opportunities other advisors might not see. learn what a cfa charterholdr can do for you at therightquestion.org

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check please. >> time for check please this story just crossing the news wires this afternoon. facebook settling five lawsuits including with the aclu saying it will overhaul the ad targeting so they can't discriminate on the basis of race and ethnicity, gender or

other protected categories why is this a big deal this is what facebook different yates itself by to advertisers the micro targeting. reining this could be a headwind longer term. >> thank you for watching "power lunch. >> "closing bell" starts right now. it is the final hour of trade. the fight between elon musk and the s.e.c. is far from over. fed-ex is about to report the first quarterly numbers of year and as dsw shares sank, the ceo joins us for his first interview ever on cnbc "closing bell" starts right now. ♪ welcome to the "closing bell." i'm wilfred frost alongside sara eisen. take a look at the markets less than an hour left o