the s&p 50000 on its longest win streak in a year and a half. the nasdaq inching closer to an all-time high. could new trade tensions derail that rally the u.s. threatening a new round of tariffs this time on europe. we'll tell you how much and on what carlos ghosn speaks out. he released a video statement overnight. what he beside nissan executives that is getting the world's attention today. it is an all-out bond bonanza for the world's most profitable company. you may not believe the new size of saudi aramco's debt sale, and

the wahoo win. congratulations to uva you are the new college basketball champions highlights ahead as worldwide exchange tips off right now. welcome from wherever in the world you are watching from. look at this no doubt a lot of bleery-eyed college basketball fans if you indeed stayed up to watch the entire game which went into overtime, by the way, and our colleague, tyler matheson and mary katherine wellens, both uva graduates, they're probably still awake. i do not want to see them working today. they should be celebrating either way, congrats to uva. let's pour another coffee and get going. who could sleep on these markets?

the dow did fall yesterday, but, remember, much of that is simply because of boeing's continued woes let's take a look at how arguably the world's most important stock right now is trading. boeing is unchanged in extended hours. as we talked about on this very program a few months ago at its price $374 a share in a price-weighted index boeing tends to have an outsized impact in fact, the greatest impact on the dow jones industrial average. we're, of course, watching boeing all day long. bonds have slowed from the recent move. yields, though, right now still 2.52% on the ten-year note as well oil, of course, also remains a huge global story. we are at a five-month high for crude oil. we have crude oil up again today. up .4%, 64.65. really got a triple play of reasons here the opec strategy of price control appears to be working. venezuelan declines, they continue iran sanctions, they all

continue to play a role in this run that we have seen off the december lows. let's go worldwide now and get a check on where we stand overseas again, it was a bit of a mixed bag in asia. the japanese nikkei up, and the chinese market down. in fact, almost the exact same percent. we saw this amazing rally in the chinese markets to begin this year the best performing developed market in 2019 that has slowed in recent days now, let's go to europe because there were some headlines crossing moments ago that angela merkel, the german chancellor has said she will agree to a five-year delay in what they call the irish backstop. remember that irish border issue is one of the main and most contentious points on brexit of course, this doesn't solve anything it's a positive step, but now theresa may, who is in germany, has to go to france tomorrow and convince emmanuel macron of the same thing and the e.u. parliament to agree to her deal. a lot of work to do.

that headline not moving markets. i think it's really a show me the news kind of a market now. all right. let's talk more about the markets and your money joining us now tim, investment strategist at oppenheimer funds. good day to be here, tim it's always a good day to be here >> always a good day >> of course the s&p 500 up eight days in a row. longest in a year and a half right now i don't think we're nervous, but more reflective of the fact that we have had a really strong start to 2019, and honest with ourselves about how this pace of gains probably can't continue through the rest of the year. i don't think it's necessarily nerves, but we're certainly tempering our expectations for how the rest of the year is going to go. >> does that mean you're selling stock and raising cash what is tempering expectations mean >> not necessarily reducing our allocation equities, but simply resetting our expectations in terms of gains from here when the market is up, according

to the s&p, almost 17% year-to-date, it's very hard to maintain that pace that would be a 50%, -- >> that would be the greatest year in the history of the american stock market if these paces continue >> if these paces continue, it would be incredible. i think when we see earnings news come out throughout the season as it begins at the end of this week, we'll probably see a little bit more mixed bag in terms of company earnings, and i think in that kind of market you may see some sideways motion at least for the return. >> no change in your investment strategy is there a change in any kind of equities that you are recommending to clients? >> well, we're more optimistic on the opportunity set outside of the united states at this point in the cycle i think that's reflective of both the u.s. gains that we've seen so far, higher value wags, but also some of the better growth opportunities we're seeing, particularly in emerging market equities right now. we're optimistic about a reacceleration in china. particularly we're starting to see better news, better pmis, better data

flow coming out of there along with optimism building around u.s.-china trade deal. that's probably our better -- >> well, tim, you just talked about how good this market has done the chinese market is up twice as much as us. >> right >> sounds like you benefitted from that. >> certainly are you holding on sf. >> i think so. when we look at where the opportunity set is more broadly, yes, the chinese market has done well, but if you look at, for instance, headline evil wags according to the msgi emerging index, it's not richly valued or overvalued by any metric, and, actually, looks at a relative discount to the u.s. >> we've got this proposed threat we'll get to more in a minute on president trump proposed tariffs. does that change your thinking at all on europe >> i think this is still early stages for this european tariff issue. one that we've heard rumblings about for the last few months as sort of the next set of trade issues that the trump administration would like to take on. i think it will be very hard to really fight two trade wars at

once i think the administration would like to wrap up this china negotiation soon would european tariffs affect our outlook at all i think that it could temper our outlook if it gets to the advanced stages, but right now it seems more like a negotiating tactic >> thank you very much >> thanks. >> have a great day. greed, fear, back stabbing those are just some of the words that carlos ghosn is using to describe his now former peers at nissan he is releasing a new video statement overnight on let's get to frank holland with more >> well, brian, ghosn said he is innocent in a new video message released by his lawyers overnight. he was set to give a press conference on thursday, but he was re-arrested by japanese prosecutors last week. his attorney says this new video message was recorded a day before his arrest. he accuses nissan executives of a plot to take him down because they were afraid of a merger with the automaker's partner renault. >> this is a conspiracy.

this is not about specific events this is not about greed. this is not about dictatorship this is about a plot this is about conspiracy this is about backstabbing that's what we're talking about. we're talking about people who really played a very dirty game. >> nissan has said ghosn himself is solely responsible for his arrest prosecutors allege on several occasions between 2015 and 2018 ghosn arranged for a company he controlled to give part of the money nissan sent to an overseas distributor. of that $15 million, they suspect that ghosn personally received $5 million. he said he planned to name the executives that he believes were plotting against him in the video, but his defense team decided remove that part of the message with ghosn's approval. brian, back to you >> first time we've heard from ghosn in a long time thank you very much. >> thank you one big risk to this market run is a potential new front on the trade hike this one with europe, not with

china. president trump threatening $11 billion of new tariffs on e.u. goods. it would be in retaliation to european subsidies to airplane maker aur every airbus airbus says there is no legal basis to impose any sanctions, and the u.s. request to the wto, the world trade organization, is exaggerated. tariff request from the white house includes everything from helicopters to olive oil to cheese, ski equipment, and motorcycles. u.s. trade rep robert lighthizer says the u.s. will implement the tariffs after the wto gives the final go ahead this summer we are still a ways off. we are just getting started here on worldwide exchange up next, tackling sky-high drug prices congress holding a big hearing on capitol hill today to take on soaring bill prices. we'll break down what's at stake. later, one of america's biggest casinos is doubling down down under. we'll tell you about wynn's g bi bet on australia, mate, when

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to yesterday's closing price crown right now building a new casino in sydney targeted at high-rolling gamblers primarily from china stock number two, standard chartered bank is expected to pay about $1 billion to settle a longstanding probe into violations of u.s. sanctions the company has been operating under a deferred prosecution deal with the united states in 2012 tied to its banking for customs iran zogenix, shares are tumbling down 30% the company says the fda has rejected an application to review its drug to treat seizures associated with a rare form of childhood epilepsy well, speaking of the drugmakers, drug prices will be front and center right there on capitol hill today executives from cvs, humana, and more all set to testify before the senate finance committee joining us now is capital street senior health care policy analyst -- as well as former

medtronnics ceo bill george, a cnbc contributor welcome to you both. bill, do you expect these executives to throw the pbm, the pharmacy benefit managers, the express scripps of the world under that drug pricing bus today? >> well, i think it's about time we address these issues, br brin we've had the finger-pointing between the manufacturer, drug discoverers, and distributors. it doesn't help. we have the world's most complex distribution system, and it has to be disintermediated, brian. we have the pbms, retailers, wholesalers, and all these channels at tremendous cost. we're really -- it's i generics, and i don't know why we can't have a streamlined distribution system, and to favor the consolidations going on with cvs and care mark and o optum health and to go direct to manufacturer to consumer give me a subscription number

from my doctor and let me go the problem is -- this problem will be exas ber baited because there are breakthrough drugs that get even more expensive coming along we're going to have to find some solution to this i think we have to stop making excuse the other thing we have to do, which will help -- we have to permit the federal government to negotiate for prices with the manufacturer and with others the law doesn't permit that. obama care, one of the big mistakes they made it's the only form of commerce i don't know where a buyer and seller are not negotiating let's get it a free enterprise system let's get consumers the best price. >> yeah, but -- >> and add ain't to their prices where. >> is this going to be more problem-solving or finger-pointing? >> i think that this will be quite a bit of finger-pointing i think this will be the fieriest hearing from the senate finance committee that we have seen the first two were pretty tame the first one featured some academics and patients

the second one had a big host of ceos of major pharmaceutical companies, but really, the toughest question we heard at the pharmacy ceo hearing was what keeps you up at night here i think there's an opportunity to find the poster child for these opaque rebates, the middle man, pbms what do they really do i think that the pbms will be on the defensive. they're going to have to defend themselves and say, look, this is what we do. we are b to b. we work for employers, unions, the federal government what we're doing is keeping drug costs down we also help with the pharmacy we call patients to make sure that they're adhering to their medications. i think we'll see the other aspects of the business model come out, and then the blame game will go back to the manufacturer because they are, indeed, the ones who set prices. pbms indeed accept rebates and are responsible for formulary management to answer your question about

idea generation, yes, lawmakers are already jotting down ideas in a legislative package that involve a lot of sunshine on drug prices, on asking manufacturers to provide notification when an increase is going to be more than 10% over one year or 25% over two years these rebates, let's put them on a website, put them on a wall of shame. quite a bit of sunlight into the drug pricing process, and we could see a whole slew of bills pass later this year the other thing i wanted to briefly mention on rebate reform with the pbms, the administration is moving ahead back in january secretary azar issued a proposed rule to really get rid of these rebates and provide those savings to the point of sale so that a patient, you know, would go to the pharmacy counter and see instead of a $25 rebate on a $100 drug, the $75 cost to the patient. that is already in motion, and

we could see them finalizing that rule as soon as 2020. >> yeah. okay bill, we're showing some of the highest priced drugs in america. there's drugs that are $40,000 and $50,000 a year why do drugs cost so much in the first place? >> well, i think, brian, you have to separate the patented and generics generics don't get cost a lot, and they get priced up by multiples. as for the patented medication, i think the rebates have to get to the consumer. there's no excuse for them not getting to consumers they cost so much because we have to recover the -- they have to recover the r & d i think the real issue is i think drugmakers have a right to recover their r and d. look at the discovery that's going on now we have a drug like katruda that's saving lives, and look at the cell biology in gene therapy coming up. these are going to cost a lot of money, and so i think, brian, there will be a recovery period, but i think there has to be a

sliding scale for the poor people and middle class people that don't have access to these drugs to get them at much lower prices frankly, we've got, again -- if we could get rid of all these mark-ups in the system, why can't people get their drugs directly you buy everything else directly amazon can ship it to you. why does it have to go through all this >> it does seem -- it does seem a little bit like that's kind of -- amazon, wal-mart buying pill pack. there do seem to be some steps that way when all is said and done and all of this is over on capitol hill, is anything going to change in the near-term? >> i do think there will be some changes. it's almost like death by 1,000 paper cuts ever since the president put out his blueprint in may of last year, we've seen about six, seven, eight regulations that are helping patients with out-of-pocket, slowing plans to do more step therapy so the generic comes first or the product with better efficacy

comes first. now we're seeing some efforts around sunshine transparency and rebate reform. no, i don't think that we'll ever get medicare drug price negotiation, as bill has mentioned, but we could see some real changes in the part b market b as in boy. these are the expensive injectable drugs, infuse drugs there's a proposal out there, who knows if it will get finalized, but it really might essentially the u.s. would peg prices for these expensive drugs to 16 or 18 nations. japan, canada, france, and so i think that's something that the pharmaceutical and biotech industry are holding their breath on. it will be a little bit more than symbolic. >> bill george good discussion on a hot topic many americans care about this we'll chat with you soon >> thanks, brian >> thank you oil's big run continuing again today. yet another new high right now for crude oil. now crude's run has helped the

stock market so far this year according to cramer. is there going to be a breaking point at some point? plus, you won't believe the new size of saudi aramco's debt sale benjamin netanyahu facing voters today as he seeks a fifth term hadley gamble live in tel aviv hadley >> that's right, brian it's shaping up to be the fight of benjamin netanyahu's political life he is neck and neck in the polls leading into this election with his newest opponent. we'll have more on that when wor worldwide exchange returns it was here.

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many of you of a certain age remember it. it's the theme song to the show "8 is enough" because the s&p 500 is on an eight-session win streak the lopgest such win streak in 17 months. we're going to fine out if that can continue today futures not giving us a lot of help dow futures down indicated down 12 points. fair value is up right now we'll call it unchanged. anything can happen. of course, you also have to watch boeing boeing has been the big drag on the dow. definitely the s&p 500 a different story. something else on a win streak has been oil oil continuing its long, slow march higher.

sfliefrmt aramco is expected so set its final price for those bonds later on today also happening right now israelis going to the polls in a closely watched general election that is largely seen as a referendum on embattled prime minister benjamin netanyahu. hatdly gamble is live in tel aviv with more hadley >> it is indeed, brian this, of course, is a direct result of the fact that prime minister benjamin netanyahu right now facing corruption charges. also, a lot of questions about whether this has to do with voter fatigue. this is a prime minister that if he manages to hang on through this election will, by july, become the longest serving prime minister in israeli history.

zbloopt just the security question now, is he technically, according to the polls, heading into this election today and really the fight of his political life he is neck and neck with the blue and white party's benny gantz. his back grund is not political. it is military that makes him neck and neck with the prime minister when it comes to hawkish policy with regard to iran and regional security a lot of controversy coming into this election, and a lot of people wondering whether or not that fatigue, that voter fatigue will weigh on the prime minister's chances of re-election. >> hadley, separately what is

the reaction today that u.s. secretary of state michael pompeo saying iran's revolutionary guard is a terrorist organization >> well, frankly, broin, when you take a look at trump foreign policy and certainly with what he said on the campaign trail, it should really, as secretary of state mike pompeo did say it comes as no surprise that they would eventually target the revolutionary guard here this is an organization that holds a lot of the iranian economy in its hand. of course, we have we know that the revolutionary guard has hamas and those are all big problems for israel, but i want to read you a quick tweet from the prime minister, benjamin netanyahu, essentially thanking president trump. "he said thank you, mr. president, for are your decision to designate the islamic revolutionary guard as a terrorist organization once again, you are keeping the world safe from iran aggression and terrorism. now, by the way, he also tweeted this in hebrew it was slightly different wording then where he said thank you, mr. president, for fulfilling yet another request just a reminder to everybody how

hand in glove, almost to an extent that we haven't seen before, that the trump administration is currently with the prime minister that's a level of support i have to say we haven't seen before in the past, and it's been consistent, and it's not just support from the trump administration we saw benjamin netanyahu just a few days ago sitting with president putin in moscow. he has really been covering all of his bases to stay in power. brian. >> hadley gamble in tel aviv hadley, thank you very much. economic, what your next guest is calling a gut check for investors as we head into earnings season. later, backstabbing, conspiracy, and "dirty games." what ousted nissan chairman carlos ghosn said overnight and is getting the world's attention today. how do you determine the durable value of a business

in the transportation industry without knowing firsthand the unique challenges in that sector. coming out here, seeing the infrastructure firsthand, talking with the people behind the numbers creates a different picture. once i know what a business is truly worth, we can make better informed investment decisions. that's why i go beyond the numbers. ♪

seteight is great, but nine would be sublime the ninth straight day of gains. we'll fiend out what's driving the steady climb and what the big risks are right now. greed, fear, backstabbing. carlos ghosn blasting his foremaner peers at nissan in a new video message. and the party may still be raging down in charlottesville uva taking home the college basketball title one of the greatest comeback seasons ever in sports the highlights as the second half of the show tips off right now. welcome back thank you for being with us hire on cnbc. i am brian sullivan. congrats to uva and congrats to

our cnbc colleagues tyler matheson and mary katherine wellens. both are uva grads we may not see them back at work the rest of the week let's check in on tyler, shall we let's kick off the second half of the show with your executive recap. we'll get to that in just a minute right now outside the world of money and business and get a check on the other top headlines, including the fastest of all the fast food drive-through. francis riviera, welcome >> you'll have to wait for that until the end. we start with attorney general b barre who will testify since releasing his four-page summary in the special counsel investigation. you can expect plenty of questions about barr's handling of the mueller report. the shake-up at the department of homeland security is starting to look more like a total overhaul less than 24 hours after dhs secretary nielsen resigned under pressure, the director of the secret service, randolph, is

also out it appears that trump senior aide steven miller is taking the reigns the hard line conservative has long pushed for more aggressive crackdowns at the border now to that fast food story. if you are wondering which is the fast food chain that's the fastest when it comes to the drive-through. we now know. quick service restaurant magazine compiled a list the fastest drive-through goes to the home of the whopper, burger king, with an wait of three minutes and 13 seconds, followed by dunkin' donuts the slowest, mcdonald's comes in last at four minutes and 33 seconds, but ifcdonald's fries,d be very much well worth the wait when you get them new is and hot. >> let's be fair it's not all that slow, anyway 4:33 for hot food. not too bad. >> a minute or two >> thank you very much now let's get you up to speed on the morning's top business headlines we do it every day ist called your executive recap.

here once again is frank holland. >> here's what's leading cnbc.com right now carlos ghosn says he is innocent his lawyers released a new video overnight. in it ghosn says he is the victim of a conspiracy backstabbing and sabotage from within nissan. the video was created just days before he was re-arrested in japan. he faces charges of massive financial misconduct now to trade update, the u.s. is considering a new round of tariffs on the european union over e.u. airbus subsidies the u.s. says those subsidies create an unfair playing ground. the tariffs could top $11 billion. airbus calls the latest threat exaggerated. still, airbus shares down this morning. just about a percent and a half. to now casino news one of america's biggest casino operators is doubling down down under. wynn reports is in talks with crown resorts. that deal could top $7 billion crown shares are up. almost 20% on the news however, wynn resort shares are down just about a half a percent

on the same news those are your headlines brian, back to you >> all right, frank. thank you very much. well, there is the news, and let's get the setup for your money on this very busy tuesday and whether or not the question of the s&p 500 going up nine days in a row. remember, we're coming into today with an eight-session win streak that's the longest going back to october of 2017. futures not giving you a lot of help right now, but which way the markets want to go they're effectively flat bonds also slowed the last couple of days with their hectic move to begin the year yield on the ten-year 2.52%. oil, though, is continuing to move crude oil, a huge global story oil up once again .4%. 64.68. that is a new five-month high. really a triple play of reasons. opec strategy, venezuelan declines, and iran sanctions all tightening up inventories and increasing prices. here is something else fascinating happening in the markets recently that you may not have noticed d despite all the tough talk with

trade with mexico, stocks have been en fuego. it's up 11% in a month it is also regrouped six months of declines. it is one of the hottest country-specific etfs out there this year. a mixed bag of az ran trade overnight. you had japan up and china down fractionally both markets not making big moves either way it is that time again. well, spring hopefully at some point, but more important for you, it is earnings season, which kicks off later on this week jp morgan chase, the first of the dow members to report their numbers. that will be on friday your next guest is calling for this batch of earnings to be a gut check for u.s. investors joining us now is michael, managing director at bios advisors with a 17% gain to the s&p 500 this year, coming of a disaster of december, how important are these earnings and this guidance

going to be? >> huge. i mean, that's why we're calling it a gut check time. companies have to have said, okay, that quarter was passed, but now here's our outlook going forward, and we're going to perform. >> where do companies need to come in? how good do the numbers need to be, michael? >> very good people are skeptical we're on a huge uptick in the markets. like you said, we're up eight straight days. up 17% coming off a terrible december, but we all forget real quickly and so people are starting to say, okay, is this real is this going to last? are companies really performing? or was this just now it's over >> well, what do you think >> i think companies are performing i really believe the political overhang that's been hanging over our heads is moving away. the jobs market looks pretty good the labor numbers came in last week positive. i think you're seeing companies rotate from the high growth, high earnings potential to high earnings companies that now need to perform >> because so much of this run has been what they call multiple

expansion. in other words, prices for the stocks have gone up, but their expectations so far have not gone up. in other words, the value wags rise, which means investors are betting on good things we better get it >> they are betting on good things, and i think the fed is betting on good things the way they raised rates and they said, oh, wait, we better stop let's see what happens now they're betting on good things to come. >> are they betting on good things or bad things now they're talking about maybe cutting rates. that should make people nervous, shouldn't it >> they got nervous that they raised rates too fast, and i think we are quite proud of what happened in december i mean, it was a terrible market we also don't know what the tax overhaul will have effect on these companies that are reporting now, you'll see the tax overhaul start to give them benefit or be meaningless. >> the inverted yield curve, at least as far as three-month or ten-year was brief a cup of coffee. it was there, and it happened, and it worried people. the fed, some people talking in the government we need a rate

cut. that doesn't imply to you, michael, we have an imminent recession. maybe that means an overshoot by the fed and maybe some technical move in bonds which caused that inversion, but it's not a red flag for an imminent slowdown. >> i don't think it's a red flag at all >> that's the universal sign for red flag >> i don't think it's a slowdown i don't think it's a red flag for a slowdown i think they're trying to get the rates right. we had a change in administration we also had a huge geopolitical overhang, and everything that was happening between the u.s. and china was killing the economy. i think it's -- i think we're getting past that, and we're going to refocus on earnings now, if the earnings don't come in well, look out. >> okay. leave us quickly with some ideas for our viewers. what looks good to you >> i like the banking sector it has underperformed. you haven't seen it perform up to the potential they're making tons of money the cash is coming in, but i also like value technology companies that are -- >> what's that mean? valley technology. i the high -- >> it's like jumbo shrimp. it sounds like an oxymoron

>> it is the high-flying days are over of the high earnings -- low earnings, high growth. let's focus -- refocus on earnings apple is trading at 16 times microsoft has the cloud technology a lot of these companies people forgot about are leading what happens in this i think the largest technological boom in our lifetime we're going to look back on this 300 years, 400 years later and say wow. >> big statement there to end it we're going to start finding out on friday with jp morgan's numbers. thank you. >> thank you, brian. coming up, a possible big breakthrough in the fight against cancer a new treatment that is giving a lot of promise to a lot of people today the celebration is underway this morning on the campus of uva where the cavaliers taking home basketball's top prize. we've got some of the highlights then it is your tuesday rbi, and it is a statistic around the job market which will get your heart pumping. you need it. it's 5:40 in the morning we're back rightft ts. aerhi

>> that shot, the trng point for uva men's basketball title like they did in the final four, the cavaliers tying it up with just seconds left. the game went to overtime. then it went on an 11-0 scoring run. they took home the title the final score uva 85-texas

tech 77. somebody check on tyler matheson that is a spectacular game he went there with his son >> you are not a hater you went to virginia tech, but you're still happy for virginia. >> because it's got the virginia in virginia tech, and i got a lot of friends -- a lot of colleagues i was a hokie, i'm proud to say. i'm happy for the cavaliers. >> this man is not a hater >> let's find out what else you are going to be talking about besides basketball. >> research was funded by the damon runnion cancer research foundation and the cancer institute and merck. it provided the materials for the clinical trial and the lab work pretty amazing

a lot of hope for a lot of people two things you have to keep in mind, this was a small study 11 patients so far >> jack dorsey might be the lowest paid exec in the country. he got paid $1 .40 last year that's according to an s.e.c. feeling. $1.40 is a nod to the original 140 character limit on tweets. it's actually a raise for dorsey who declined all direct compensation of benefits in 2015, 2016, and 2017 >> fair enough, but $560 million in twitter stock and $4.4 billion in his other company square stock he is doing fine >> he sold off some of the square stock and netted about $80 million. >> capital gains rates lower than ordinary income don't pay yourself smart tax move i hope to be rich enough one day to not having to get paid. we're going to move on to what may be the best day of the year it's free cone day at ben &

jerry's. a free one scoop cone. ben and jerry's expects to give out over a million cones today >> good stuff. >> i'm more of an italian ice person, but you can't hate on free ice cream >> no, you can't thank you very much. >> thank you big brother and big data the big change the u.s. government is making ain how it collects your personal information. steve liesman will join us giving a jolt to the jobs market the big numbers that maybe just don't add up stick around it was here. i couldn't catch my breath. it was the last song of the night. it felt like my heart was skipping beats. they said i had afib. what's afib?

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♪ how janssen can help, applebee's bigger, bolder grill combos. now that's eatin good in the neighborhood. a dow component. walt disney upgrading to an outperform and raising its target to $131 from $102 they say the upcoming investor day later this week will be what they call a "deck-clearing event. they do have some concerns around the fox deal, but they are bullish on disney's ott,

overtime top direct to consumer strategy a 13% up side to the current price. no doubt we'll hear more about this all day on cnbc live images right now in berlin we are waiting the arrival of u.k. prime minister theresa may in the german capital. she's there to meet with german chancellor angela merkel with four days to go with the latest brexit deadline. we did get some headlines from merkel crossing within the past hour chancellor saying that she is willing to extend the contentious irish border backstop for up to five years. now, after meeting with merkel, theresa may will fly to france to meet with emmanuel macron they need the approval of not only the u.k. parliament, but the e.u. parliament as well to make any kind of a deal. well, the u.s. government is making a rather under the radar change in how it collects your data, and it could potentially have huge implications steve liesman, live with us at the nasdaq on this steve. >> hey, good morning, brian. tomorrow the government is going to launch a big change in its

inflation data big brother, as in the government, is going to be using big data for the first time in the nation's inflation report. the move is going to affect only a small part of all the prices that it gathers. it's just the start of more sweeping changes that see more and more big data come into government reports in this case. a large department store, who the bureau of labor statistics declines to name, is sending them a file with actual prices paid for its products. it's faster and cheaper to collect, and it's also more accurate the price collectors go into stores and write down the posted prices on the tags, and they're now going to get actual prices paid by consumers. chief branch -- chief of the branch of consumer prices at the bls says we're only going to do it if it produces data at a lower cost or improves quality the down side? first companies have to trust in anonymity from the government. if what if the company goes out of business or stops sending them data? the economy is changing over

time and in many ways the cpi will always have a certain amount of discontinuity. this is just the beginning the bls plans to begin web scraping or scanning the web for data for actual price data from gasoline and airline tickets, and the census bureau recently incorporated scanner code data from npd group into the retail sales force. brian, welcome to the future a future of more and more big data for big brother >> very cool stuff here. i guess. i mean, it's -- there's going to be implications in how the data is reported, and there's going to be people who criticize because there are people who criticize everything >> i think that's right. first, let's aplud our government that are looking for cheaper and more accurate ways to get -- this is an agency that continues to get whacked when it comes to the budget process, so we got to, you know, hats off to them for that, and we have to monitor it and be careful. there should be public disclosure, and these guys move

very slowly and deliberately there won't be a big change for wall street. let's just hope it ends up being more accurate, and i think also faster data is a big hope here >> all right steve, stick around. let's also now bring in joe, chief economist at rsm we get to other stuff on jobs, but what do you think of this? do you like this move by the government >> i do. we should have been doing this long ago you know, mit's price target has been out there i think it's going to show that we consistently overestimate the true cost of inflation that will be good on the government side of the ledger. let's face it, cpi is tied to adjustments that lead to government benefits. especially around social security we have an aging population. we have a government, unfortunately, that's going to be running trillion dollar deficits as far as the eye can see. this does play into the bigger picture, even if it's a little -- >> it is, but, steve, do we have to worry is this kind of going to be like the steroid era of baseball where all the stats have an astericks? is it going to be the old data is it worthless now? is this just a tweak

>> you know, brian, the existing dah data has a certain worthlessness to it. let me tell you my big hope for this that's a really good question. the economy is always changing it's always difficult. here's my hope we spend less time gathering the easy to gather data. why shouldn't companies be sending us files that will free up people in the bls to get the harder to gather data let me give you an example 70% of the economy we know is services, right? we have one quarterly services report that comes out a month or so after the end of the quarter. you free up the bls guys from getting the price data they can get by a file, and now they can go get service data, which will give us a more accurate, more timely picture of the economy in real-time. >> steve, do you think that this is actually going to speed up the data and then it will had us deliver more real-time actual insight to, say, midmarket companies as opposed to just the

big global active multi-national companies? >> i think it will i'm hoping -- i mean, look, these guys at the bls and the census bureau, i think they mean very well, and i think the idea that they're trying to move ahead but move slowly is very important to everybody involved here like you said, this could have and maybe should have been done a long time ago. what's interesting, joe, is the reason this started was because this big company who won't be named didn't want the government price collectors in their store bothering the store people anymore so we'll just send you a file get out of here. >> what are you buying leave me alone it's scaring me. >> now it's much easier to do it yeah, i think we're moving ahead and moving slowly. >> i want to switch gears to the fed. we have a calendar of the six remaining fed meetings this year how many of those meetings, joe, do they raise or cut interest rates? >> less than zero, brian >> really? >> it was a great movie and a

better book. >> you think they do nothing the rest of the year >> i think they're -- even my quantity takive model suggests -- >> wait. after the presidential election? >> yeah. >> so not only this year, but almost all of next year? >> that's right. no rate cuts or rate hikes they are on a prudent pause for a good period of time. >> for a year and a half >> yes >> does your all america survey match up with that thinking? >> we don't go out a year and a half yeah essentially people think -- we still have a cut built into the fed survey not the all america survey a hike built into the fed. that's waning fast. when you put up the calendar, that's the calendar of weeks i cannot take vacation >> it's just on wednesdays >> well, yeah. >> two days, come back go back to fishing >> like they say in australia, if you put a meeting on wednesday, you ruin two weekends >> that's why everybody likes australia. steve liesman, joe, good

discussion big data the fed. thank you very much. appreciate it. well, speaking of data and the job market, it is the topic of your morning rbi. while so many focus on the monthly jobs number, a different monthly number out at 10:00 ram this morning, maybe more insightful it is the jolts survey, the job opening labor turnover survey. it shows something incredible. as of january 31st, last jolt data, there were 7.6 million open jobs in america 7.6 million. the number of open jobs right now would be the 13th biggest population if you are wondering 6.2 million unemployed americans in america. hopefully random but interesting. dow futures not giving us an

indication which way the market is going to go we'll see if the s&p can make it nine or nine we are up eight in a r quk x"s next every day, visionaries are creating the future. so, every day, we put our latest technology and unrivaled network to work. the united states postal service makes more e-commerce deliveries to homes than anyone else in the country.

zbloinchts united states threatening a new round of tariffs. what's on the list which companies could be impacted carlos ghosn released a video message overnight accusing nissan executives of greed, fear, and backstabbing we'll show you the highlights. and a casino operator is one of today's biggest stock movers we'll tell you about a potential hi tie-up between las vegas and australia. tuesday, april 9th, 2019 "squawk box" begins right now.

♪ i'm andrew ross sorkin along with joe kernan. becky quick is off let's show you how things are setting themselves up. dow looks like it could open off 16 points. s&p 500 off about four points. rounding up there, nasdaq off about ten points major averages closed the day yesterday at their highs of the day with the s&p and nasdaq shrugging off some losses. boeing will be down by, what 18 points? >> there's a riff. i'm looking at becky, who is not here, and then i'm looking at you. boeing is down 118 points. >> it's like a physical riff, idealogical. >> no. >> we're much closer >> we're much closer >>