it's 5:00 a.m. at cnbc, and here's your top five at 5:00 high-level trade talks between america and china picking back up in d.c. a showdown on the southern border big business sounding off as president trump threatens to close our border with mexico we have the full fall-out. another brexit delay possible british prime minister theresa may says she needs more time to figure out an exit plan, but will her bold new gambit really work this time ousted nissan chairman carl goee what he said that has everyone's

interest a big update to a story we brought earlier this week. what a u.s. federal judge just did to pg&e that should get the attention of every ceo in america. it is wednesday, april 3rd, and worldwide exchange begins right now. good morning, good afternoon, good evening. thanks for joining us on a busy wednesday, and that is a live look at the nation's capital where high-level trade talks with china are expected to kick off within the coming hours. there is a lot of new optimism around you where, we're going to tell you why in a couple of moments. in the meantime, here's the reaction to the news that is owl there right now. a solid bump for stock futures just under triple digit gains. we're implied open 82 points the dow, s&p, and nasdaq are also in the green this morning by the way, even though we dropped a little bit yesterday, the dow jones industrial average is now up 15.5% without dividends in just the past 90

days a heck of a run. in the bond market the bench market ten-year yield continues to back up just a bit. we're sitting this morning at 2.52% on the ten-year. the two-year at 2.33 now let's go global. another solid night for asia japan is higher, and we had more strong data out of china there's services pmi hitting its high eest level in 14 months remember, we had positive manufacturing data two days ago, and both the chinese markets are up more than 1%. the hang seng and the shanghai market up as well. by the way, with this move on the shanghai composite, the shanghai comp is now up 30% this year best performing market in the world. let's get a quick check on europe as well you're noticing a trend. more green than red on the screen and across the same story. maybe the brexit optimism, maybe the china trade optimism, the german dax powering up to a 1.3% gain right now outside of the stock market, here's a global look at commodities and currencies

we continue to see the run in oil moving up, up, up, and that means gas prices are going up as well bitcoin, big move yesterday. you know, we talked about that 15% move sort of out of the blue bitcoin nothing like that right now. we are seeing another 1% move to 4956 obviously keeping an eye on bitcoin today. here's a look at the wall street agenda today you're going to get the latest read on the health of the housing market we get the weekly mortgage apps numbers, and that's followed by the adp employment report. sort of the private sector monthly jobs number. we get services pmi here we get the ism non-manufacturing index as well. a big day for important economic data that all kind of goes into the fed's thinking let's talk about the big day ahead and the big market run be, and maybe the federal reserve. ken caymen is president of arcadian management. there's a lot of stuff out there right now. a lot of the data seems to be

conflicting where, some good some not as much what is key to you and your clients? what are you focussing on right now? >> it's hard not to focus on the fact that the fed is taking themselves out of the picture. they said that they weren't going to raise this year, which is certainly investor-friendly i don't understand the sentiment now starting to talk about whether we're going to get a cut this year. i don't see that as being a realistic choice either. >> we said it yesterday, don't just do something. stand there. >> you expect the fed to stay flat for the rest of the year? >> i think if they kwut, it's going to get people going. what do they know that we don't know it can create jitters, and the fed is really out of it for this year that's certainly a positive for markets, and what's going on now in the international headlines is worth talking about also. >> i think one rate cut might be a knee jerk reaction up, and

then when it sinks in, as i just said, what do they know that we don't know it could set things going in the wrong direction. >> on the one hand you have the president saying this is a strong economy, very strong economy. yet, some of his advisors and potential fed nominees are coming out and saying we need a rate cut a little bit of mixed signals there. >> i don't see the economy heating up so much that we have to worry about it on one side, and i don't think things are falling off a cliff on another side i think it would be terrible to do it for just political purposes >> are you opt knicks about the china trade talks, and do you think that's been in the incredible market run in the ras 90 days? >> i think a lot of it's been in the market run what's interesting about today's market little bump is that the optimism that they're 90% there is the headline that i read. anyone that's negotiating a deal realizes that the real facts only start coming out in the last 5%. to say we're 90% there doesn't tell me much i do think a lot of the positive result is already baked in i would be shocked if we get something really dramatic on

intellectual property. >> yeah, but you said the key. it's maybe already baked in. if we wake up one morning and turn on worldwide exchange and we find out there is a deal, then maybe the market -- do you think the market reacts? >> if we get a deal to monitor that they're actually doing it, that would be great for global economies in general because china has kind of been eating everyone's technological lunch by taking their intellectual property and making it their own. >> do we just need the tariffs to go away would that be a market pump? >>. >> i think the tariff thing is creating a whole bunch of noise. the back drop of what i believe the president is trying to do is get at some of the long-term stuff about the intellectual property, and the rest of it is just kind of window dressing to be able to get to that goal. no, i don't think the tariff thing is the big thing to me that's the stick it's not really going to be too much more. >> last question, very quickly finish the sentence. the biggest market risk right now is -- >> something really goofy in the

political world. whether that's a negotiating ploy to get -- >> he is hinted at it. >> is that a ploy to get money for a wall give me my wall, and i'll do this, and it's worse is it just political posturing to be able to say something in the electorate that i'm doing what i said i was going to do? to me i think getting a bullet shot passed our bow by the president who is a master at keeping himself in the top of the day's news with, you know, kind of outlandish stuff that he says to me that's a risk in the markets. >> ken, a pleasure thank you very much. >> thank you >> now let's get you up to speed on some of the mortganing's othr top stories. >> good morning. i'm going to start with fed news president trump has told fed chairman jay powell he is stuck with him the "wall street journal" reports the president made those comments to powell in a recent phone call president trump has repeatedly blasted powell and the fed for raising rates and blame the central bank for hurting the

economy and the stock market the fomer nissan chairman is facing financial misconduct charges in japan he was released from jail last month after being arrested in november ghosn tweeting today i'm getting ready to tell the truth about what's happening now to a developing story. investigators are still on the scene of an explosion and a fire that broke out yesterday in a texas chemical plant here's video of the scene right here one worker was killed and two others seriously hurt. this plan is located about 30 minutes northeast of houston authorities say a tank filled with a flammable gas and a nearby storage building both caught fire when a transfer line ig need. it's the second blaze at a chemical plant in this area in recent weeks brian, back to you >> we had another big one near crosby during hurricane harvey as well. frank holland, thank you very much >> thank you one block down

much more to come here on worldwide exchange up next, the high stakes talks that we just talked about between america and china picking back up in d.c. today. is there real reason to be optimist optimistic plus, big business bracing for brexit with nine days to go. could british prime minister theresa may pull a rabbit out of her parliament hat major new development to tell you about there when we return

good morning 5:11 here on the east coast. thanks for joining us on worldwide exchange here's how your markets are setting you up their wednesday futures will come back a little bit. we got in this morning, and believe me, that's early we saw about a triple digit gain expected not quite as optimistic right now. dow futures up 73 points still, we're coming off the back, of course, monday's big gains. yesterday the markets were down a bit, but keep in mind, about 55 of the 72 points of the dow was because of one stop. walgreens boots aliensz, pharmaceutical chain coming out with weak numbers. very weak guidance jim cramer on squawk on the street very critical of how the company did not give anybody any heads-up on to that cut in guidance like cvs had done earlier a couple of weeks ago. walgreens boots alliance was the majority of that drop.

>> that i reason for optimism. let's talk more now about big business and how they might be preparing for brexit and why your next guest says in some ways brexit is already happening. why do you believe in some ways for corporate england brexit is already a thing of the past in some ways? >>. >> it's not so much a thing of the past, but a process which has already started. we've heard a lot about how large manufacturing organizations have decided change their manufacturing plans, the likes of japanese carmakers, for example, have decided they won't expand their facilities in the u.k. banks, of course, have to move people out of london and into other continental european locations in order to prepare themselves for the potential that they have any business continuity in the event of a hard brexit. in that sense brexit has already happened the data that we receive seen

over the course of the morning even tells you that the u.k. economy has been badly effected by breaks the-related uncertificate ovu uncertain uncertainty. well, it's very hard to get a reasonable assessment of it, but, i mean, i would say that it's on a quarterly basis. you know, you probably knocked maybe a quarter or maybe two-tenths off the quarterly gdp growth rate. that is certainly something which i think has been evident over the course of the last 30 months as things stand, it's unlikely to recover any time soon, so i think we're in an era of much weaker gdp growth. if you look at what we expected prior to the referendum, gdp growth in the order of, say, two, maybe slightly above 2% per year now it's 1.5%.

i think a large chunk of that can be attributed to brexit. >> are you surprised more large multi-national companies haven't left england >> not surprised i think in a sense that they are waiting and seeing exactly how the situation pans out i mean, those companies which decide that they have to go for business continuity reasons obviously have gone, but i think a lot of companies still think that they've got a big vested interest in being in the u.k., and there's a consequence that they can afford to wait until such times as the situation becomes more clear, but there's not been any doubt that the u.k. reputation for being a good place to do business has taken a bit of a bashing over the past couple of years. >> if we get a deal or a one-year extension, we got willem marks coming right after you. if we get some kind of extension to a brexit delay, is that a positive thing, or is it just literally just buying time from

nothing? >> i think you are right just buying time it clearly is a positive i mean, i've been discussing this with clients quite a lot over the course of recent months the last thing we want to see is the economy fall off a cliff if it's -- if we trade off uncertainty for the cliff edge, says then is anything better than a hard brexit a no deal brexit you know, the impact of a hard brexit will be smaller than is commonly imaged, you just don't want to run the risk i mean, i think the deal that theresa may's government negotiated with the e.u. are market economic grounds alone, is probably the best it's going to be deliverable. unfortunately, many mps in her own party seem to think that there's a better deal on the table. there isn't.

>> pleasure to have your insight. thank you very much. let's get more on the latest twists and turns of the brexit debate, and there was a big one overnight. willem marks on the frontlines and joins us now from london i guess you know willem, with this move by may to reach across the aisle to corbin, the only thing i can compare it to is if we woke up in the morning and found that donald trump and nancy pelosi are trying to team up on some kind of a big deal. i mean, this is a major twist in the brexit drama >> there really is, brian. essentially what's really interesting to note is quite how insistent theresa may has been about her interpretation of brexit for the last few months, last couple of years.

>> she's been really focused on trying to win over those insider and conservative party as well as the small northern irish party, the dup she's not managed to do that three times now in the last couple of months we've almost automatically seen brexit soften from a business perspective for british businesses at least that seems to be good news if that's the direction it takes thereby still major uncertainties. one, will the talks with corbin work they should be initiating those today. if they don't work, will the government as theresa may promised last night, follow the house of commons lead on an alternative, and then three, if she goes to brussels next wednesday and asks the european leaders for an exchange as she said last night she would do, is there any guarantee they will give it to her, and if they do, what will be the conditions they he impose upon the u.k. in order to get that extension and really listen to people emmanuel mac n

macron, he is saying there is no guarantee. they do not want to see the u.k. participate in the european parliamentary elections if they're not then going to have a much longer extension. it could be a year off >> so what was arranged last month, the end of march, theresa may went to brussels and said i want until the end of june the europeans said no, we're not going to offer you that. we'll give you until may 22nd if you can get your deal through parliament by the end of march she didn't manage to do that if you can't do that, then april 12th becomes the default deadline to avoid the u.k. even

starting the process of involving itself in european elections. however, if she goes back to brussels next week and asks for a longer indefinite extension, she hinted at yesterday, that it's not clear whether europeans will grant that because, of course, they are concerned about these parliamentary elections at the end of may we don't yet know how long the prime minister will ask for. that will no doubt be contingent on her conversations with labour, how well those proceed and what parliament says about those discussions. next, we're talking video games, video games, and meal kits stick around

breaking news. deutsche bank moments ago downgrading the stock, saying it's reach whad they call peak earnings deutsche bank slap ag hold rating on cat with a $128 price target by the way, about $10 lower than it is right now. caterpillar stock, as you can see, moving down 1.5% right now. i'm sure we'll get more on this call throughout the day here on

cnbc well, your other stocks to focus on this morning, include, as we said, video games, video games, and meal kits stock number one, game stop reporting fourth quarter earnings that beat analyst estimates, but revenue missed. the video game retailer also is warning of a possible first quarter loss as it struggles with slowing sales of games and consoles at its stores apparently everybody is either playing fortnite or wanting to play video games in public stock number two is dave & busters. fourth quarter results there topping forecasts on strong same-store sales this is an arcade-themed restaurant you eat and play video games well, that's a pin ballgame. chains also reporting revenue this year will come in likely above analyst estimates and stock number three, a rare big jump for the blue apron. the company announcing that ceo brad dickerson is resigning from the company. he will be replaced by former etsy coo linda keselowski. blue apron's stock down 90% since the company went public

back in 2017 struggled to boost sales struggled to turn a profit by the way, it is worth noting, the company's market cap is only 200 million. we normally don't talk about companies that have a market cap that low, but blue apron was a big name, it was a big ipo, so we're letting you know the news. stock up 15% take that with a grain of sea salt we've got a big update to a story we first brought to you earlier this week. >> it would have gone to shareholders to trim trees near their power lines to prevent future fires pg&e has said it would not resume dividend payments until it emerges from bankruptcy, but this judge's decision takes that choice out of pg&e's hands >> two big dc-related stories

that you need to know about today. first, high-level trade talks between the u.s. and china picking back up in d.c. with more optimism, a real deal could be close also, new details about a chinese national who was arrested at the president's mar-a-lago resort. tracie potts is live in d.c. with more on both of these stories. tracie >> yeah. could be a security scare. an interesting one, too, given what that woman had with her when she was arrested. 18-year security veteran trisha newbold says she's speaking out to prelkt e protect the country. >> it's important that we stand up to do the right thing no matter what. >> newbold tells congress the white house overruled her team's recommendations. 25 times approving security clearances

for the president's son-in-law and advisor jared kushner. his daughter, ivanka tring e trump, and others with what she described as serious disqualifying issues, like foreign influence, conflict of interest, financial problems >> it's very, very concerning. they could be subject to manipulation by other countries, drug abuse, all kinds of things. zhoo newbold approached the house oversight committee. >> she was scared to death >> the committee issued a subpoena for the former white house personnel director to explain how security clearances are approved >> they're asking for personal, private, and confidential information from individuals that they know that they have no right to see, and they're putting the three million people that do have a security clearance at risk. >> and we're now learning about a security scare at the president's florida estate a chinese citizen arrested at the mar-a-lago club after talking her way in authorities say her story didn't

add up >> in addition to those two passports, she also had on her four cell phones, a laptop, a hard drive, a flash drive with malicious software she said she was there to swim, but didn't have a swimsuit, brian. >> normally if you are going to go swimming, a swimsuit is handy. >> not a cell phone. >> you think they could have checked that at the gate thank you very much. bizarre story there. coming up, why your next guest says ignore netflix and buy two other fang stocks. top rated media analyst laura martin is here the multi-million dollar yacht at the heart of a billion dollar scandal finally sells. we'll reveal the big money price tag when worldwide exchange returns. ♪ there goes our first big order. ♪ 44, 45, 46... how many of these did they order? ooh, that's hot. ♪ you know, we could sell these.

nah. ♪ we don't bake. ♪ opportunity. what we deliver by delivering. (danny) after a long day of hard work... ...you have to do more work? (vo) automatically sort your expenses and save over 40 hours a month. (danny) every day you're nearly fried to a crisp, professionally! (vo) you earned it, we're here to make sure you get it. quickbooks. backing you.

zbhiefrmgts trade front and center as high level talks between the u.s. and china pick back up in d.c we'll break down the most important things for your money ahead. negative on netflix. why top ranked media analyst laura martin is raising the red flag on this once red hot stock and says you got to buy apple instead. althat and more right now. ♪ we got a long, long way to go [ ♪ scared to live ♪ scared to die >> welcome back. good morning thank you for joining us here. let's kick off the second half

of your show with your executive recap. frank holland, tell them what they need to know. >> here's what's leading cnbc right now. u.s.-china trade talks picking back up today in washington. china's vice premier is in town. he is expected to meet with u.s. trade representative robert lighthizer and treasury secretary steven mnuchin the financial times has new reporting this morning that the u.s. and china are closer to finalizing a deal. we will have much more on this throughout the day right here on cnbc now to exbefoit theresa may will push to further delay the exit from the e.u. she plans to meet with jeremy corbin to break the brexit deadlock without it they'll crash out of the union next friday. carlos ghosn is breaking his silence overnight tweeting from a newly created account saying "i'm getting ready to tell the truth about what's happening." he plans to hold a press conference on april 11th he was arrested in japan last year accused of financial

misconduct he was released on bail last month. brian, back over to you. >> frank, thank you very much. let's get a check on the morning's other top headlines outside of the world of money and business francis riviera in new york with those. good morning >> hi, brian good morning to you. the results for the chicago mayoral race, and for the first time in history chicago has elected an african-american woman who was also openly gay. windy city voters elected lori lightfoot with 74% of the wrote vsh the mayor-elect thanked voters and promised work for the interest of the people a dramatic scene is set to play out in a federal courtroom in boston. actresses laurie locklan and felicity huffman are 13 parents expected to face a judge in a massive college admissions scandal. at least one parent, the ceo of a water company, has requested to move his appearance to a later date, citing ongoing discussions with the government to resolve the matter without a trial. tickets for marvel's upcoming film "avengers end game" finally went on sale, and

it nearly broke the internet not speaking figuratively there. the demand was so high it crashed amc's website. some people who did get their hands on tickets, as you can imagine, they're selling them on ebay a single ticket for a first day imax screen ing is now up for $500 somebody is out there that will want to pay that >> that is a massive franchise thank you. good morning have a great day let's get a check on stock futures. we're not soaring on stock futures, but the indicated open is about 80 points right now coming off of monday's gains the markets fell yesterday, but almost all of that was walgreens. let's take a check on walgreens because walgreens boots alliance was almost all the dow's drop yesterday. walgreens boots alliance, not bouncing back today. that stock down fractionally again. your next guest made a big

splash right here on worldwide exchange a few weeks ago with a bold call on google. she started coverage with a buy and says the network effects are so powerful that you've got to buy the stock. as part of that, she's also worried about netflix. let's dive into that and talk about apple. joining us now is laura martin, managing director of needham and company. you were pretty tough on netflix when you were here, and i thought when you left -- i know all the netflix fan boys out there, you must have gotten some blowback from people saying don't talk about netflix >> i get hate mile when i say anything mean about it, i -- >> you too >> i don't even send you hate mail just -- >> i appreciate it you're the only one. thank you. i mean, what did people say? don't talk about net fliflix li that >> it's too far ahead. even though these companies have 50-year libraries. it's a global product. as if disney can't go globally reed hastings is a genius. i gray wiagree with that.

a lot of people have their net worth tied up in netflix netflix is going to have to borrow $3 billion to fund its content creation and apple just announced that it's going to spend $2 billion and it has $50 billion of cash. >> they're going to sell real cash not borrow money >> it's not like dump it, get rid of it. you're saying, lisp, there's better opportunities other places >> we really like apple. apple trades at 16 times earnings, and netflix trades at 10 times revenue we think apple is the better deal >> repeat that it sounded important >> apple trades at 16 times earnings netflix trades at 10 times revenue. >> now, i'm not war enburen buf, but i do understand balance sheets and income statements a little bit >> yeah. >> yeah. just negative cash flow netflix for the foreseeable future >> for the foreseeable future. >> all apple does is print money. >> print money you could double the spending that netflix does on content, and no one would notice.

there would still be an extra $30 billion to buy in shares and pay a dividend i think it's going to be really hard for netflix, which borrows money to compete with apple or disney or cbs viacom in the ott world. >> can i ask you a personal question >> of course >> you are a media analyst, one of the best in all the land. why are you covering apple >> i'm covering apple because i actually think it's an ecosystem meade media company in the end of the day i think all these companies are getting into the overtime top streaming business >> you recently upgraded appear to a strong buy. >> i did >> with a $225 price target. how much of that is the media strategy your world >> i would say i think hardware analysts overvalue units, and i really think of an installed base with revenue per unique user apple is now said that they have 900 million unique users globally they have a monopoly on the 15% of the world's richest people. that's a cool target market. >> it is

apple has moved away from every three years you give us a bunch of money to buy a phone to every month probably without even thinking you pay us $10 to $50 for subscriptions. >> right wait until they get a tv subscription because that's going to be another $10. >> disney, disney plus, it espn, espn plus, amazon prime, netflix, comcast, hulu it's crowded >> it's crowded except their target market is the 15% of the richest people on earth. guess who pays for premium services the richest 15% of the people globally >> yeah. i mean, it's -- you know, it's been an undercommented on part of their business until ately. do you expect that this going forward is going to be the focus? hey, we've got a new iphone. that's great, but we got oprah and jennifer aniston, and weave got a content library. >> and we have speilberg yeah, i do think so. i think like amazon prime they give you free amazon prime, and then they raise the amazon prime price. that's about to happen at apple. the more services they get, the

more they can charge you for the phone, and the more they can charge you >> what's the biggest risk to apple? >> the biggest risk is that they don't -- is that they don't actually get a hit iphone for the next five years. they just keep selling fewer and fewer i phones, which you don't care about the number of iphone sales, but you care about the ecosystem health you care about that 900 million number going to sort of 910 million, 920 million you don't want to start to degrade towards 800 million because that's destroying option value because you can't make revenue from subscribers you don't have >> you know who else has a video strategy, which you are p not as opt migsic on is facebook. you down agreed every graded them to hold for the opposite reason you -- what do you mean by that? >> what's happening is i think the government has picked a side i think they have decided they don't like facebook. once the government picks a side -- >> it's the whole election thing. >> i think it's going tb a bigger issue elizabeth warren is talking about breaking up the fangs.

i think a lot of people are leaving. 11 direct reports of mark zuckerberg's have left in the last 12 months, and i think the more people that leave, the more likely it is the next person leaves, and then they go to competitors, and then they call their five best friends at facebook and take them away too. that's really -- that's a lead indicator for value destruction because there are no assets at facebook except people >> positive on apple positive on alphabet neutral to negative on facebook and netflix. >> correct >> laura martin, awesome to have you, as always >> thank you very much, brian. have a good day. we are also keeping an eye on shares of lyft this morning yeah, the stock finishing a little bit in the green yesterday but lyft still below trading at $68.97 as of the close, and no trade this morning. by the way, speaking of ipos, a happy birthday to spotify. you're 1 year old today. spotify went on the nyse today, and a rocky start, though, because like lyft, investors have kind of ignored it.

at least so far. ipo, spotify, down 4% from its ipo. all right. coming up, the justice department has issued a big warning for hollywood. why this year's oscars could be under the microscope we'll explain. oil at its highest prices of the year we'll tell you what that could mean for you at the pump stick around yore wchu'ating worldwide exchange back after this.

>> good evening, hong kong, by the way. oil on the move across the world. oil continues its climb. it is now up 35% this year opec strategy. really the saudi strategy. it seems to be working crude oil up another quarter of a percent to $62.76. of course, you probably don't buy barrels of oil i'm just guessing. you probably do buy gasoline, unless you are a tesla driver. surging oil prices also making oil and gas prices rise as wrshl the national average at $2.70 a gallon if you are in l.a. or honolulu, you are paying 3.50 or $4 a gall gallon frank is back with trending stories. >> you know, on that gas -- >> by the way, you're -- no, no, no can we just -- your outfit, you are a sharp dresser, my friend

your outfit is spectacular >> i admire your outfit as well. >> thank you >> getting over to trending, the department of justice out with a really big warning for hollywood. this has to do awan idea floating around that streaming services like netflix should be excluded from oscar consideration. the doj says that can actually violate anti-trust rules the academy of motion picture arts and sciences will meet later this month to talk about updates to oscar considerations. i'm going to call this the bird box effect i think somebody at the doj was, like, bird box better be nominates because people just love that movie. >> was it good >> i'm not going to ruin it. i'm not going to ruin it or tell you. all right. a big win for google's contract workers the tech giant will provide comprehensive health coverage a $15 minimum wage and 12 weeks of parental leave to all of its workers where, that includes the huge roster of temp and contract workers as well as vendors wage requirements will go into effect later this year other requirements like health care will be implemented by

2022 >> good stuff. paid leave >> the latest in the 1mdb scandal. a yacht seized in the embezzlement scandal, they just found a buyer. a malaysian casino company is shelling out $126 million for the 300-foot yacht this is the largest amount of money the malaysian government has recovered in the 1mdb scandal. when you think about it, even though $126 million is a lot, it's a drop in a bucket when you look at $4.5 billion >> i think i read the book, but i think the cost of the yacht is -- by the way, the book is called billion dollar whale. it's about joe low, the financier who is in hiding right now accused of fraud a lot of things happened on that boat i'm not going to ruin the book like, you're not going to ruin bird box, but a lot of things happened on that boat. >> might have to take a read >> billion dollar whale. great read, by the way >> we're switching over to the sports world and america's big sports team. bryce harper was back in

washington he was greeted with a lot of boos from that d.c. crowd. then he came back with this. the dinger and the bat flip heard around the world >> we saw. >> landing in the second deck. they went on to beat the nats 8-2. they're salty because they lost and we got them. >> they play today at 1:05 p.m. eastern time give me the frank that harper gets beat because that bat flip? >> 100%. >> you think so? >> oh, at the very least >> that flip -- >> the crowd is going to remand it >> thank you very much >> thank you by the way, just amazing choice of outfit today >> you too another big break outstore stocks coming, or is the run done what is next for you and your money. plus, why today is a big cell-abration. we'll tell you about it next expo beyond the numbers to examine investment opportunities firsthand, like biotech.

because your investments deserve the full story. t. rowe price invest with confidence. - anncr: as you grow older, -your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life.

futures indicating another up day for stocks. we're waitd indicated up 80 points if you are not paying attention, you should be. the dow is now up 15% in just 90 days how much of that is because of the fed? joining us is chief market technician at piper jaffray. great to see you again how much of this is i don't want to say fed fluff, but a fed put on the market? >> the fed really just gave everybody a hall pass at this point in time. are you seeing the growth stocks responding at this point, and you are seeing stocks like apple. you are seeing netflix you're seeing google they're all making interesting looking basis and setting themselves up to go back to the highs. right now even though the market is up 15% in 90 days, we're at a point in time where we're likely to go back and retest the old highs. i'm not sure you're going to break out, though.

>> i think the market is too narrow when i go through all of our work,, what i'm seeing happening right now is i have less than half of our groups, our proprietary groups in any form of an uptrend right now. i also have less than half of the groups right now that have gone back above a simple 40-week or 200-day moving average. while this is interesting, it has some concerns to me that the breath is narrow it feels dissimilar to what you have seen happening in january of 2018. also, what you saw in september of 2018. we know what happened after that from my perspective, this market is probably going to struggle as you get back to those old highs, which is only 3% away. >> is it too much almost euphoria again for the fang stocks >> i think it is probably euphor euphoria, but i think it's also money just kind of saying i got to come off the sidelines. i got to go somewhere. the pain trade is on it's up right now. a lot of managers did not get out of the way of q4, and then they did get back in early enough to really participate for the 15% advance.

>> you know, this is maybe out of your wheel hourks but i was thinking about this. bonds are up oil is up. stocks are up in china they're up here. they're up in europe everything is up where is the money coming from literally, who is the buyer out there? >> i think what the fed is putting more liquidity in the system, i think you are season seeing money coming off the sidelines. i think you are seeing that is what is pushing this tape up also, again, brian, the breadth of this tape isn't as wide as what we have previously seen >> need i remind you that your price target on the s&p 500 is 4% below where we are right now. >> correct you know what, i feel very comfortable about that even though i get grief from some of the sales folks from th. >> i heard that multiple times back in september. >> you are not doing it? >> imauto not doing it, because the seasonality is also something we have to consider, brian. in the third year of a presidential term, you are strong from january through july, and then from july to december it tends to be quite weak from my perspective, having had this large of an advance in q1,

q2 typically will not follow through quite as strong. april should not be as strong as what we've been seeing i think you're going to see this market come back in, and you know what, i'm going to be patient and wait for this market to come back in instead of trying to chase it up. >> the bull market is somewhere. there's got to be something that you still like, that looks under -- maybe undervalued, right? >> absolutely. there's a lot of stocks. i can pick out some of the individual stocks, and we'll go through some of those. if you look at apple or nvidia or stocks like hormel, even visa -- >> going for the minnesota homer there with hormel. >> a little bit. the chart does look great. it's a nice-looking base >> hrl >> hrl a nice-looking base. you have a similar looking setup also in nvidia well off its old highs clearly, this is a stock that is well-positioned for the future for automation, cars -- >> nvidea, not hormel. >> yes >> you never know with some of the new --

>> not yet some of the new engines. semiconductors, are they sfil the leader they used to be zblie think they're still the leader, and what will ultimately potentially play out is some of the software as a service have had a long run i would not be surprised to see profit-taking in those areas if a trade deal does get done because a lot of people are going to hide in that area, and then the money comes back into the semiconductors, and you are making some pretty nice looking bases in those names bottoms. >> you know, yesterday i tried to put my craig johnson hat on that's a very big hat, by the way, and we showed a little technicals on the screen we talked about the so-called golden cross the 50-day moving average going above the 200 day moving average on the s&p 500, and history says when that happens, markets tend to go up a year out. doesn't sound like you're that much of a believer >> i'm actually a believer, but it's happened 11 times, and i think what we can ultimately see is the market can work its way higher, but that might be more in next year as you press through some of the issues right now, again, seasonality is

not going to be at our side. this is one of the strongest q1s we've seen in a very long time we are getting the golden cross, but i don't think that we're going to see new highs we may have to consolidate here for a while first. that's okay. >> energy stocks they don't get a lot of attention thauz they're only 6% of the s&p 500, but it's been the hottest performing sector this year. overdone >> i do think it's overdone. we actually just downgraded in the last month energy from overweight back to neutral there's been a lot of people hiding in the energy names things like exxon and chevron and some of the names. i am starting to see things like cog. they're starting to make -- >> cabin oil gas >> they started to make a nice-looking bottom here in the stock. you look at stocks like valoro washed out bottom in the making when you look at the fundamental side, which i'll leave to our analysts, it looks a lot more constructive >> i like that neutral on the

overall market, but this has to be the most diverse group of stocks ever. hormel, two oil stocks, and nvidea thank you very much. time for the morning rbi an anniversary is something we all take for granted again, all choked up talking about it it was 36 years ago today the first cell phone call was made motorola engineer named martin cooper called a rival at bell labs while working in midtown manhattan. his message? motorola beat bell labs to the punch. creating the first workable portable phone the device weighed 2.5 pounds and allowed a user to talk for 35 minutes like some of the batteries now took ten hours to recharj. it was another ten years before motorola began commercial service. the 16-ounce model cost $3,500 cell phone, of course, has come a long way since then.

martin cooper, happy anniversary. that's it r rlidfowodwe exchange this morning "squawk box" is next but here's the thing. you don't live on mars. (beep) you build wind turbines. supply car parts to thousands of cities. answer millions of customer calls a year. like this one: no, i didn't order this. it's terrifying. and that's why you work with watson. hello. it knows your industry, protects your insights, and works with tools you already use. that's why it's the best ai for the job.

i can customize each line for soeach family member?e yup. and since it comes with your internet, you can switch wireless carriers, and save hundreds of dollars a year. are you pullin' my leg? nope. you sure you're not pullin' my leg? i think it's your dog. oh it's him. good call. get the data options you need, and still save hundreds of dollars. do you guys sell other dogs? now that's simple, easy, awesome. customize each line by paying for data by the gig or get unlimited. and now get $250 back when you buy a new samsung galaxy. click, call, or visit a store today.

the u.s. and china resume trade talks today. a new report says a deal is 90% done, but the last 10% is going to be the trickiest. details are straight ahead carlos ghosn tweeting from a new twitter account. he says he is ready to tell the truth about what's happening in a news conference. we're going to tell you when this is interesting. president trump has reportedly been complaining about the fed chair in meetings this week. he reportedly told jay powell in a phone call, "i'm stuck with you. >> wait a second

>> i'm stuck on you where. >> don't look at -- we're together here. don't -- >> took me a second to put that together >> i wasn't looking at you it's wednesday, april 3rd, 2019 "squawk box" begins right now. >> i know -- ♪ we do still have music we did k play, apparently good morning welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernan and andrew ross sorkin. let's take a look at the u.s. equity futures at this hour. you're going to see right now that things are indicated in the positive territory once again, you are talking about the dow futures looking up another 75 poi poin-- the nasdap by about