michael collins of pgim. it is an interesting exercise to have with pgim. if i can guarantee you that recession at the end of 2023, what would you do differently today? what would you do differently today in this market? lisa: a lot of people say nothing. they would continue going into risks because they have six months before they have to start going into cash. it is the nature of the recession. it is how quickly it is a downturn, what particular sectors, is it led by the consumer or led by a lack of investment on the corporate side. we don't know. jonathan: you missed one thing that tom said. is that what you call our team member? tom: that is his name. that is his family nickname. i know that for sure. let's put it in perspective. i thought senator cassady was brilliant. excess profit taxes, 31 years ago, 1939. at that time the dow was at 3000 and life went on. we somehow got through it. jonathan: let's kick off energy. the prime minister of london. he spoke to vladimir putin of russia and urged him to declare a cease-fire and then went on to say this an

the pursuit of outperformance at pgim.pertise to outthink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. a financial advisor that understands me and my goals as well as the markets? now you're talking. no wonder clients rate ameriprise 4.9 out of 5 for overall satisfaction. ameriprise financial. advice worth talking about. >>> welcome back to "fast money" the transport trade in trouble today. iyt etf down nearly 3% one stock is catching karen's eye, what is it? >> i'm looking at ups last quarter, stock rallied, got lucky. of saw earnings weren't terrible except for omicron ups has been hit couple weeks on fears of omicron, labor shortages, i think the valuation has come down now 15 times i love the management. love the margin impro

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the pursuit of outperformance at pgim.asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. ♪ ♪ nice suits, you guys blend right in. the world needs you back. i'm retired greg, you know this. people are taking financial advice from memes. [baby spits out milk] i'll get my onesies®. ♪ “baby one more time” by britney spears ♪ e*trade now from morgan stanley. ♪ >> i think that you must recognize that there is a lot to do to unlock the value that they are not currently doing. maybe it is time for twitter to reinvent a private company to take short-term hits. listen life on the cnbc app. >>> welcome back to "squawk on the street." rick santelli live here at cmhmq. the chicago pmi is to be out at 56.2, but it is a big miss, and that is the lightest since febru

join the pursuit of outperformance at pgim.estment management business of prudential. ♪ >>> that shanghai lockdown drawing more attention to chinese makers of evs. nio, of course, suspending production trying to hike some prices, but shares down about 5% as we are getting some broad based weakness out of the china vehicle sales for the month of march, down ouabt 11%. we will get "stop trading" with jim in a moment. hybrid work is here. it's there. it's everywhere. but for someone to be able to work from here, there has to be someone here making sure everything is safe. secure. consistent. so log in from here. or here. assured that someone is here ready to fix anything. anytime. anywhere. even here. that's because nobody... and i mean nobody... makes hybrid work, work better. [copy machine printing] ♪ ♪ who would've thought printing... could lead to growing trees. ♪ >>> let's get to zwrim and "stop trading." >> a small piece of research, marathon oil continued strong recovery of capital. if the oil goes down today off the price

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at pgim, the pursuit is on for outperformance.investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. >>> i am bertha coombs here is what's happening at this hour in your news update president biden spoke at today's funeral for madeleine albright at the national cathedral in washington he called her a truly proud american who was an incredible and comparable ally. also paying tribute to the first woman to

the pursuit of outperformance at pgim.to outthink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ >>> welcome back to "fast money" check out gap topping the tape, looking at its best day, locking in its best day since january 2021 on rumors of potential activist, according to records, activist looking to spin off brands including thletica, and two firms already holding small stakes in the name pete, you saw some call buying in this one? >> we did, mel when you take a look at the short interest takes you back to the day of amc and others, not quite that big but quit

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up-to-date on the dynamics of this bond market, robert tipp joins us, chief investment strategist at pgimncome. how much blood is on the street? price down means money is lost. how much? robert: tremendous amount. this is a record move in bond yields we have not seen for 30 years plus. even greater drop in price because you are starting with low yield which means prices are more sensitive to movement. it has been a tough period and we have jumped the rails in terms of growth and inflation, investors have gone a long way toward handicapping that here. we are kind of at a weighing station in the market at this point. you can see, today, in the price action, when the market is rallying, the president morning about a high inflation number. the market is pretty oversold here in the short-term. lisa: does that mean you are buying? robert: we do not discuss client accounts and short-term activity, but it is reasonable to expect, this is what you get in these cycles. after the martin has gotten 300 basis points ahead of the fed, the market is that far ahead in terms of pricing in rate hikes, it i

join the pursuit of outperformance at pgim.gement business of prudential. ♪ i may be close to retirement, but i'm as busy as ever. careful now. - thanks. -you got it. and thanks to voya, i'm confident about my future. -oh dad, the twins are now... -vegan. i know. i got 'em some of those plant burgers. -nice. -yeah. voya provides guidance for the right investments, and helps me be prepared for unexpected events. they make me feel like i've got it all under control. [crowd cheers] because i do. okay, that was awesome. voya. be confident to and through retirement. >>> i have to hand it to our supply chain team and our partners that supply us. fortunately, we don't buy a lot of conventional items because a different feed ethos and food principles so that helps us in some of the inflationary environment, but we're doing everything we can to avoid having to pass on pricing. it's getting harder and harder >> the ceo occf chipotle >> the reason i wanted to focus on them for a moment is they're not worried about unions why? because they

the pursuit of outperformance at pgim.world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ fortitude gold producing high grade low cost gold in nevada usa. a gold investment delivering monthly cash, dividends and substantial yield. fortitude gold. cal: our confident forever plan is possible with a cfp

the pursuit of outperformance at pgim.anaging investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> welcome back to squawk on the street jobs and the impact of inflation in focus this morning as employers both public and private continue to hire back workers at a very quick pace ace hardware just announcing plans to hire more than 40,000 new workers by the end of spring and here to discuss that move and more, ceo john van heisen. great to have you back on the show i'll start on this jobs friday as able to bring people in and employees in and what is it going to take to recruit them. >> yeah, well good morning, morgan and thanks for having us we're in a position of hiring and a lot of it. it is primarily driven by three things for us. one is we've a lot more new stores we opened abou

join the pursuit of outperformance at pgim. the investment management business of prudential.t quarter, but we're hoping things will pick up by q3. yeah...uhhh... doug? [children laughing] sorry about that. umm...what...it's uhh... you alright? [loud exhale] [ding] never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers, plus some of the lowest options in futures contract prices around. [ding] get e*trade and start trading today. jamie dimon out with his annual letter to shareholders detailing three important and conflicting forces leslie picker has more on that hi, leslie. >> good morning, morgan. jpmorgan chairman jamie dimon detailing the confluence of factors he believes may dramatically increase the risks ahead. it includes a strong u.s. economy, high inflation and the war in ukraine his view of the economy was relatively positive. he describes the consumer as being, quote, excellent financial shape on average he said consumer spending the last few months is 12% above pre-covid levels but when

kailey: it was mike collins of pgim. from the data we saw a sizable revision upward for the month of february. what would give an indication on whether or not we are going to see an upward revision this month? it did come in just a little light of what economists expected. michael: the trend has been to a revision higher. you have to go back to july of last year to see a revision lower. i would expect we get some additional hiring from these last two months put into the number when we get the number for april on may 6. it does look like we are undercounting a little bit at the beginning of the month. kailey: michael mckee in washington, d.c., thank you. let's get more insight into those jobs numbers. we are joined by bank of america security global economist. your take on the numbers today? aditya: i think this is another jobs report that checks all the boxes. the labor market is white-hot. 500 is the new 200. we did add 500,000 nonfarm payrolls. wages are strong. the unemployment rate fell by 0.2, which is quite remarka

join the pursuit of outperformance at pgim.ts, you guys blend right in. the world needs you back. i'm retired greg, you know this. people are taking financial advice from memes. [baby spits out milk] i'll get my onesies®. ♪ “baby one more time” by britney spears ♪ e*trade now from morgan stanley. >>> welcome back to "squawk on the street." union pacific, the largest railroad on the u.s. beating on the tom and bottom lines this morning. thanks to volume growth for the quarter as well. moving between gains and losses this morning, just below the flat line right now. here to discuss union pacific chairman and ceo lance fritz lance, great to have you back on the show >> morgan, thanks for hosting me this morning >> all right so, revenue per carload up 12%, freight volume increasing 4%, pricing power continues to be in your fafavor walk me through it. >> yeah. the economy is fairly strong actually it's very strong both the industrial economy and consumer economy that's giving us some pricing power. we, of course, price to the value

at pgim, the pursuit is on for outperformance.tors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. cal: our confident forever plan is possible with a cfp® professional. a cfp® professional can help you build a complete financial plan. visit letsmakeaplan.org to find your cfp® professional. ♪♪ >>> we'll get to a mad dash and opening bell 2:00 from now rivian is not a good performing stock so far this year, jim, to say the least. >> it's a tough day. morgan stanley out they cut the number of cars that'll be produced. deutsche bank is calling for nuclear. i are picked rivian. the analysts are happy with the production you know, you talk about being able to do 25,000 cars now, david, rivian is the favorite of amazon i don't know i just want to say that in a market where everybody feels everything

i imagine the team at pgim are probably on that side of the trade as well, looking at what bank of america is saying to do and listening to david bailin too. lisa: i do wonder what this means going forward and how they are going long duration. jonathan: we will catch up with priya misra of td later. she's got doubts about how far this fed can go. need to talk about these airline names. american airlines joining united with a nice pop higher, more than 8%. american up by almost 9%. demand for domestic travel has steadily improved, they say. demand for international travel has picked up significantly. this is bloomberg. ♪ ritika: keeping you up to date with news from around the world, with the first word, i'm ritika gupta. russia's president vladimir putin has declared that his forces have seized the key ukrainian port city of mariupol. it would be the biggest city taken during russia's two-month invasion. russia's defense minister says more than 2000 ukrainian troops are still hold up in an industrial complex in mariupol, demanding those troops surrender. the u.s. justice department will ap

join the pursuit of outperformance at pgim. the investment management business of prudential.eft to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> as you know, the big banks are getting ready to report tomorrow financ financials have struggled and leslie pick or whether they've been too pessimistic what do you see? >> it's possible, scott. thanks to overall optimism that inflation may be peaking after today's cpi read it's reminiscent of what took place earlier this year when investors piled into bank stocks on the prospect of rate hikes and then mid-quarter sentiment shifted over the concern that the war in ukraine and supply chain issues would cause the fed to hike more than the market anticipated and suddenly bank stocks had fears of a resecessi, and it was overweight 1300 bases points by mid-february and underperformed by 1500 basis points through quarter end higher rates served as a tailwind to banks because they can charg

at pgim, the pursuit is on for outperformance. customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. girls... the chess club has gained an edge on our bake sales. we need more ways of connecting with customers, fast. i know some consultants with great ideas. can they help us improve our digital experience? absolutely. they've invested over $2 billion in tech. that could really help us manage inventory. and save us a ton of dough. then let's take back our market share. checkmate, chess heads. girls, i said “bedtime”! cal: our confident forever plan is possible with a cfp® professional. a cfp® professional can help you build a complete financial plan. visit letsmakeaplan.org to find your cfp® professional. ♪♪ . >>> welcome back to "squawk box" on cnbc. we're seconds away from the initial gdp. right now the nasdaq's almo

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the pursuit of outperformance at pgim. to outthink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. my fellow xfinity customers! hi tim. the biggest week in entertainment is almost here! watchathon week presented by xfinity rewards! with free access to... ...stranger things from netflix... ...the boys from prime video... ...hbo max... ...starz... ...and peacock. just say “watchathon” into your voice remote and get ready to watch! i love you! i love you! i love you all! >>> time now for the "squawk planner. investors waiting for another huge week. we while hear from coca-cola and visa and boeing and caterpillar and mcdonald's activision is reporting after the bell the week belongs to tech stocks. ce center stage starting alpha debt an

join the pursuit of outperformance at pgim.reaking economic news a key read on inflation and it's coming just 30 minutes away. also energy a huge part of the story. goldman's head of commodity research jeff curry is going to be our special guest plus what, if anything, can or should washington be doing about rising consumer prices we're going to be asking that question to texas congressman kevin brady as the final hour of "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc live from the nasdaq market site in times square i'm joe kernen along with becky quick and andrew ross sorkin and what's happening inflation, consumer price index due out at 8:30 eastern. probably maybe we look forward at least in terms of interest more than even the jobs report at this point and a couple of these recent numbers we've seen, because if it is 8.4 that's as high as anything we've seen since 1981 wherefore casters are as far as year over year u.s. equity futures, though, have managed to at least stabilize and

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