businesses added just 189,000 jobs in march, says adp. that's the first month of gains below 200,000 in more than a year and it was far short of the 225,000 that economists were looking for. and it wasn't just adp's report that disappointed today. manufacturing activity slowed for the fifth month in a row and construction spending slipped as well. and all of that weighed on stocks. the dow jones industrial average fell 78 points to 17,698. nasdaq dropped 20 and the s&p 500 gave up 8 points. today's reports add to a string of recent economic misses but will there be better days ahead? our steve liesman has the answer. >> reporter: investors riding the market bull these days have been forced to hang on for dear life. as the economy and the market take them for a very bumpy ride. freezing february temperatures in east have slowed economic growth and a strong dollar and weak overseas growth have flattened corporate profits. add to that a stock market that seems to buck up by triple digits one day and buck down by triple digits the next. over

cory: i see people already have adp and paycheck.k is kind of newer, but they have been around for a long time. what are the innovations of they have missed? joshua: 6 million companies in the u.s. that use payroll, they serve about one million of them. it is a fragmented market. 40% of businesses today do payroll by hand. that was the shocking stat. what we have done is try to bring this philosophy of modern software where things should work seamlessly, be easy-to-use, anyone can access it. for a small business owner that has been underserved and alienated for a long time. cory: given your total bias on this, described to me this fruit a process that adp's software is written and paychex as well. joshua: we have a lot of respect for companies in the space. in our case, the way that payroll is done, we use gmail as an analogy. you don't have to know how it works to send a message to someone. that is not necessary. that is the main message, right? 15,000 tax codes across the u.s., lots of paperwork and requirements. these millions and

along with adp, ten-year and more. there's the opening bell.k at s&p at the top of the screen. at the big board this morning, as you can tell godaddy celebrating its ipo. we'll talk with ceo blake irving this morning. at nasdaq opportunity summit. michelle caruso-cabrera right there in blue among those ringing the bell. cnbc is the official broadcaster of that summit. 9:30 on the east coast, auto sales from gm now, dom chu has that. dom? >> yes. what we have right now are gm sales delivered 249,875 vehicles for the month of march. again, 249,875 vehicles delivered. that is a 2.4% drop from the same time last year. estimates from edmonds.com for a 1.4% drop. so slightly worse than expected by just a percentage point. gm does say that trucks suvs, vans and pickups were up 14%. so again we're seeing the same theme develop with larger vehicles driving some of the strength there. overall passenger car deliveries down 21%. now gm's head of sales for north america did say that higher demand dovetailed perfectly with launches of the new full sized pick

>> adp has been a little bit below. >> explain what happened. adp is pretty good. and they missed.hey were well below -- >> it's been running within about 45,000 or so. >> and how short was it? >> it was 189. >> 40 or 50 short. and they didn't touch the 240. >> so i didn't see very many. maybe one or two guys said there's downside risk. >> i remembered it was 248 before and you said 248 today. >> i know. >> okay. so, hi. thanks for coming in. we're only here for two hours, you guys. we told you that right? so we've really got to get three hours worth of information into two hours somehow without the stock market trading today. >> if they talk at the same time you talk -- >> we do not do that typically. doing it right now. you didn't come down after adp? >> no. i mean three of the last four months have been terrible for adp. when you look at the last two years combined the average is close enough to 30,000 on a median basis. december was almost perfect. november missed by over 100,000. it's been on a cold streak. >> i want to ask allison first, is the fed still data dependent or are

i do think the adp number is the best way of getting at it.here around 200 k. adp is private sector to show in 10,000, 12,000 for government. >> mark, i think the big choice out there is this a repeat of last year deja vu all over again, weak first quarter. and the better bet sonis on a turn around for the quarter. about 1% for the first quarter now? >> yeah i think the economy is going to reaccelerate. i think the weather played a big role. i think the underlying growth in the economy is still 3%. that will become evident as the year progress. in terms of job growth job growth has been extraordinarily strong. out of any balance. just to put context in this suppose it's 189, that's still well above 100, 125 that you need to make for unemployment. that's still pretty good. >> mark thanks very much. i think we'll see you friday. joe, you're going to be here. >> i'm happy to be here. i'm happy to try a 7:00 a.m. start. >> instead of 6:00. >> instead of 6:00. >> see if we can do without you. >> i don't know. >> do you like the numbers at all? >> s

eck peckations that economists could lower their forecast after yesterday's much weaker than expected adp report. it marks the first time since january last year that fewer than 200,000 jobs were created in the private sector. that weighed on u.s. markets. steve filed this report. >> investors riding the market bull these days have been forced to hang on for dear life as the economy and the market take them for a very bumpy ride. freezing february temperatures in the east slowed economic growth and a strong dollar and weak overseas growth have flattened corporate profits. add to that a stock market that seems to buck up by triple digits one day and buck down by triple digits the next. >> over the last four months we've seen more economic misses than hits. we are moving forward to be sure and certainly companies have he recovered to a great deal but the economy is not getting that break away speed that many expected this year. >> the question for investors is whether they should look through the current weakness for smoother days a head. last year riding the bull paid dividends. the econom

what the adp is telling us. the economists are hoping there is a mystery eight ball telling them what it will be. the reality is the wage gap and the skills gap is real. we are having people that don't want to participate because there aren't jobs for them. there are jobs out there. not for the unemployed. they don't want to participate and feel the rejection of not getting jobs. >> it was a disappointing numbers. it spoke to a lot of things we talk about on this show. all we're seeing is this jobs number confirms what stocks have been telling us all year along. we've seen the estimate revisions. we're getting the revisions downward in earnings. consumers aren't spending. it's not going there. portfolio managers will have to come in on monday. maybe we think what they're doing, i'll keep my commitment to tech and health care. i have to possibly rethink a commitment to something like industrials and transports. >> we were able to say, first quarter earnings came down dramatically. there was always a reason for it

. >> reporter: economists will get an early signal from tomorrow's adp report where the private sector job growth of 225,000. anything below 200,000 could cue wall street to pay a little more attention to the message from main street. for "nightly business report," i'm steve liesman. >>> in indiana today, governor mike pence said he's open to changes to a recently signed religious freedom bill. this after the law spawned a public outcry in the local and national business communities which we reported on yesterday. mary thompson now indianapolis. >> reporter: facing growing criticism of signed, mike pence submitting tuesday it's taking its toll. >> i tough. >> reporter: change to a religious freedom law that provides legal cover for businesses to discriminate against gays and transgenders. >> i do believe moving legislation this week that would make it clear this law does gi businesses the right to deny services to anyone deemed appropriate. >> reporte clear up what he called mischaracterizations by the law fueled by national media and organizations who didn't understand the law's inten

>> this is employment week, this morning's adp number came in weak and there's a lot of concern thatt will reflect in a poor employment number. keep in mind if you look at this historically, the connection isn't that good. it has been okay the past couple months but watch out for that, look out for employment. if it comes the week the market will get hit hard. liz: the expectation is 252,000 jobs for the march jobs report, lower than we saw in february. great to see you, thank you for getting in front of the cameras on a busy day. what could be a telling sign for the new quarter, the major averages are trading lower with just a couple minutes left on the first day of trading for the month of april. as investors deal with the economic reports on jobs and manufacturing we have a weaker i s m, slightly weaker adp, how she you prepare for potentially disappointing earnings and the eventual rate tightening? joining me point of view wealth management and president c i o who is not scared at all. you don't scare easily. >> what are your alternatives? with the tweeting year treasury, 1.87 wi

it is a mandate of adp. that is very important. everything should be decided by people. the law of the law is the mandate so it's true -- [inaudible] they agree that it is a high standard. they follow the law of law. we hope that it is our decision rather than mandate. the members have different. [inaudible] for the procedure approved as mandated it's different. there needs to be a negotiation report to congress and that allows the countries and people and if the law of law. [inaudible] i think those should go to the board of adp and get that approval by the board. that's a real procedure that will follow. [inaudible] they must compared to the larger demand. private capital mobilization we must be very careful. they should make the private sector insists. [inaudible] to have project assessment and prepare would be more comprehensive way for real demand but i think and also. [inaudible] one project can achieve everything. for example. [inaudible] that is very difficult to achieve. that's good but it doesn't reflect reality. they should reach the policy target so that's th

. >> even the jobs number didn't look too good on adp this morning. from chicago to cincinnati ohio nathan bachrach are you worried about some of the signals we're getting with the u.s. economic data? are you chalking it up to bad weather? >> i'm going to chalk it all up to weather, sar remarks but i'm going to chalk it up to whether or not you think this is playing out in 2015 like 2014 did, whether you think a strengthening dollar is starting to have an affect on exports for american manufacturers, which i think it does. whether or not you think the consumers who has a happy accident taking place in their savings and checking accounts which is more savings, will come to the rescue of the economy. i don't think they are. i think the consumer is very happy to watch. and then you take a little bit of cold that actually took place here in the midwest we found that it was rather cold. he put all that together i think we're doing fine. it's a question of whether or not business is going to be able to understand that a rate hike is not going to kill them a

becky mentioned adp, capital spending. those were all weak.ot seem to be a repeat of the lousy first quarter from last year with the strong snapback. there's more going on here with the impact of the strong dollar hurting exports. the negative part of the oil price decline showing nup the economy and having to wait for the positive part which economists says comes later. at 1.3% we haven't gone negative on gdp tracking. some economists already at zero. we still don't have the march data yet. so there's a ways to go. >> what's your gut tell you? >> i think this is not a repeat. last quarter -- last year first quarter, we still really haven't explained. mostly weather didn't make a whole lot of sense. i think the first quarter we talked about a couple weeks ago is almost always a weak quarter. you had two shocks to the economy. the strong dollar and lower oil prices. and even if the shock is beneficial, it takes time for an economy to adjust. i think we're a little bit unbalanced here but i think ultimately by the time the summer comes around th

adp employment report, below expectations. ism was disappointing as well. a lot of stocks on the move today, including three airlines which got down graded,dom chu. >> that's right. if you look at these stocks here, delta, united continental, american airlines. deutsche bank cutting rating on these stocks to a hold from a prior buy. and they point out to weaker things like weaker than expected international sales. also other factors, as well. so those airline stocks lower on the day, thanks to that, and, of course, rising fuel prices as well. over to you. >> thanks. okay, so pete. >> yeah. >> you've got this price line upgrade yesterday by scott devit, in part expecting tail winds from an improving economy. you have the downgrade today on these three names in part because deutsche bank sees international sales a source of earnings disappointment. >> yeah. and they're concerned about the strong dollar. it makes sense why the downgrade, quite honestly. i understand when you look through the list of reasons, it makes a lot of sense. but he also mentions, hey,

adp private sector jobs also fell short of expectations and markets are now looking forward to the main jobs data in the u.s. on friday. let's see,000 nikkei and topix are doing. nikkei yesterday traded below 19,000. for manufacturers it sparked a little bit of profit taking but seeing a bounce back from those levels right now. today, also however, there might be a little bit of negative sentiment in the tech sector. micron technologies reported weaker earnings forecast. analysts say the outlook for chip makers is a strong barometer for the pc sector and related sectors. so keep a close eye on those areas. one bright spot may come from the auto sector. u.s. auto sales come out at the beginning of every month. sales figures beat estimates. we'll watch out for the likes of to it and nissan which had pretty good numbers. >>> stronger dollar. clearly helping these exporters. yen has been moving in a tight range this week ahead of that main u.s. jobs report tomorrow. what can you tell us? >> exactly. right now let's have a look at the $yen. 119.58-60. no major change. dollar is like try to r

we had an adp read yesterday but investors care about tomorrow's number that is the nfp jobs report. this is expected on the right side. this comes back to when the federal reserve is going to be hiking interest rates and that depends on the job market. >> let's go to apple. apple watches start next week. what are experts predicting in terms of sales for that? >> well it is supposed to be very hefty in terms of the preorders but when sales starts that's where the big estimates are, and one analysts expects in the first weekend you could see up to a million apple watches sold. he's actually on the conservative side. there's big expectations but when you put that in relation to the iphone that is relatively low. this is a new product. one million would still be a very good showing and for the year on average, analysts expect apple to sell about 20 million watches f. if you're anying about getting one, you probably want to get in line soon because it's an apple event. we know how these go. fren zi. >> still ahead here on "way too early." several big developments of the crash of the germ

adp's jobs report was lower than expected the day before which was not good. expectations for tomorrow's report have been coming down. where do you stand right now? what are you expecting to happen? >> our numbers are around 220,000 for tomorrow. a little bit lower. 230 to 240 on average for the year. we're a little bit lower tomorrow. i think the focus may not be necessarily on the number though. as long as it's around 200,000, that's what people are going to expect. it's about the wage information that i think is embedded in the report. that's what people are going to look at. we know wages are moving up on the lower end. walmart took care of that. many followed. mcdonald's being the recent one. any news about wages, that's what i think is going to be what people are going to read in on as far as when the fed will move. i think, again, the jobs might be the secondary news tomorrow in the report to the wage information. >> larry, what do you make -- i'm still thinking about the big miss yesterday morning on the pmi number. the manufacturing gauge. you know, t

if we look at companies like adp, for example they have market caps of over $60 billion combined.t people re: have it. -- already have it. are those paychecks somewhat newer, they have been around for a long time. what are innovations they have missed? >> 6 million companies need payroll. that was shocking to us. it is encrypt -- an incredibly fragmented market. 40% of businesses today due to a by hand. that was a shocking statistic. what we have done is try to bring the philosophy of modern software where things should work seamlessly, be easy to use, anyone can access it for a small business owner underserved ignored, and elliott it for -- alienated for a long time. cory: describe to me the screwed up ross s that led to the way software is written in paychecks as well. >> i can speak more to what we are doing. in our case, the late payroll is done come we use gmail as an analogy. when you use gmail come he do not know how it works to send a message to someone. it is not necessary for that is the main message. 16,000 task goes across the u.s. a lot of compliance requirements. all

the biggy was the adp jobs report, number came in worse than anticipated. market reacted with wall street pulling back. that number came out, jobs number well belokon census -- belokobelow consensus. domestic automakers with decreases sales, some might say this may put the fed on hold. i am thinking there may be a deeper issue. i want to go to the floor of the new york stock exchange, find out how traders feel about it. >> we have keith. we have been talking about the economic news. it is not that great. >> since the beginning of february it has been weaker. i have been astonished that the equity market has not woken up. we set all-time highs in s&p and dow, now russell caught up. the economic data has been -- it giving policymakers at the fed a pause to consider. >> everyone was bullish, saying that the path of least resistance is still to the upside, what do you say to that? >> i was one of those. but now i am changing my tune, i think that there are weaker signs for the equity market. >> wow thank you. charles. charles: that was great. before we start we

the march adp employment report is out at 8:15 a.m. eastern. sector hiring is expected to have picked up last month and early signs of a jobs report due on friday. at 10:00 a.m. we get the march manufacturing index and february construction spending. auto makers report their march u.s. sales today. sales are forecast to be flat to slightly lower although on an annual basis are expected to be strong in the range of about 16.8 to 17 million vehicles. cold and snowy weather hurt sales in february especially near the end of the month. >> u.s. markets turned in a lackluster performance for the first quarter of the year. the dow ended in the red with the s&p 500 barely ending positive to make nine straight quarters of growth. the nasdaq also posted nine straight positive quarters out performing the other main indices. weaker than expected earnings are partly to blame for the sluggish start of the year. during the quarter, 85 companies issued negative eps guidance compared to just 16 companies delivering positive guidance. joining us now to look at wh

their pace of hiring in march that is according to the monthly report released today by the processer adp it shows that companies added 800,000 jobs last month, the first time gains are lower than 13000 in months. it only accounts for the private sector and the labor department is more comprehensive jobs report coming out on friday we are hoping for a glimpser of hope there. >>> speaking of good news if are you hungry fans of one iconic cheesesteak shop don't have to hike to the northeast anymore, they cut the ribbon for joe's steaks in fishtown, it's one of the hottest corners owned by the family that runs the original joe's steaks on torresdale avenue. >>> little smiles were shining bright at u penn school of dental medicine they were invited to get their teeth cleaned for free and is in support of the american dental association's 10th annual give kid a smile program. 4,000 children will be seen by a dentist this week. >> lots of smiling as a result of today's weather. >> that is when people want to smile. as soon as it's a nice day. lets go to adam. >> it's extra big. that is all. esp

michelle, adp no good claims good. is it a wash? >> we think so.ws are noisy indicators, so you want to look at a range of different figures. we think pretty much all things point to a fairly solid jobs number. so we're above consensus, at 270,000 for tomorrow. that is a slowdown from the six-month moving average of 293,000 but still clearly a strong labor market if we're right. >> everyone's wondering, what's with the gap between gdp growth and what we're seeing in jobs. gdp's disappointing and now jobs are doing quite well. is it a productivity issue? >> well sara that is i guess a key question something we're struggling to answer a little bit. i think generally, gdp figures are more volatile you'll see periods where gdp moves around a lot of the labor market numbers. laeb labor market is solid. last year 4.1% growth in q2 5% growth in q3. we're not running at a sub 2% growth economy now. so i think probably what's going happen the data gets reconciled and the most likely outcome is q2 gets -- sees a nice bounce in gdp. >> steven how's the market

>> this is how a great many people think of adp, automatic data processing. the newest tool of the irs, and new dimensions in tax administration. but this is the real part of the martinsburg monster. it's unofficial name. nearly everyone in the u.s. has some concern with this mechanical marvel and its electronic relatives. some in these remote quarters in the mountains of west virginia many in several other scattered areas of the country. the regional service centers. these machines are things of believe it -- gleaming metal and flashing lights, lights which do not, however spell the names of stage and screen attractions and their performers. they spell out, in a sense, the federal tax status of millions of taxpayers. as this, or individual. while -- is this, or individual. much goes before and much comes after. most of these machines are placed in operation by the simple push of a finger. >> in 2003, "new york times" reporter judith miller wrote about that lead up to the invasion of iraq. in an effort to reveal her source, she was found in contempt of course

one of the factors weighing on stocks, a report on jobs from adp. auto sales fell. that's it from cnbc, first in business worldwide. no one? remember when we used to raise the roof, diane? oh, quiet, richard i'm trying to make sense of flo's terrible drawing. i'll draw the pants off that thing. oh, oh, hats on hamburgers! dancing! drive-in movie theater! home and auto. lamp! squares. stupid, dumb. lines. [ alarm rings ] no! home and auto bundle from progressive. saves you money. yay, game night, so much fun. audible safety beeping audible safety beeping audible safety beeping the nissan rogue with safety shield technologies. the only thing left to fear is you imagination. nissan. innovation that excites. >>> good to have you back with us tonight. let's talk politics in 2016 for a moment. i think that democrats deserve a heated debate before 2016 so what's the hold up? we still don't know where hillary clinton stands on the tpp, fast track, the transpacific partnership as well. her record shows she supported past trade agreements. she's remained silent on the keyston

paychecks and adp are definitely the largest companies in the space.anging very quickly over the next five years. we're very focused on serving those small businesses. now that we're two weeks away from being nationwide, we'll have a chance to bring the product to everyone across the country much more quickly. >> what do you have to do differently in this environment to scale carefully? you're planning to grow from around 60 employees now to maybe 300 by the end of the year. you're looking into new office space. what do you have to do to make sure your revenue is stable and you're not growing a too fast? >> yeah, i think a lot of it comes back to really the values of the company. this is something we hope to spend many decades works on. i always remind the team that we have to be very deliberate in our hiring. in our case, it's a very cost-effective platform we've built. we have great monday at theizati theization. we give customers a one or two-month free trial. so i think as long as we maintain that focus on high quality customer experience, maintain

the biggy was the adp jobs report, number came in worse than anticipated. market reacted

adp says there was a gain of 189,000 jobs in march.ported under 200,000 added to a month in 13 months and it may not bode well for labor department report on friday. economists looking for a gain of 250,000 jobs. investors may not mind that though as hiring starts to weaken. it will prompt the federal reserve to hold off raising interest rates anytime soon. the stock market sold off yesterday about the dow down 200. not looking so pretty in the early going this morning. let's take a look at the big board and see how we're doing so far and the dow is moving lower by over 130 points. and you have the nasdaq down by 34 and the s&p falling by 14 points. michelle and frank, back to you. >> all right. kcbs radio's financial reporter jason brooks thank you. >>> time for a look at what's coming up on "cbs this morning." >> gayle king joins us now from new york. good morning. >> reporter: good morning. welcome back, did michelle tell you i asked about you? >> i just told her that and she was beaming. >> i know. i was sick for a few days but i'm

>> did i estuary >> this tunnel we suspect is how many people think of adp -- automatic data processingthe latest tax tool of the internal revenue service and new dimensions in tax administration. but this is the real part of the martinsburg monster -- it's unofficial name. nearly everyone in the united states has some concern with this mechanical marvel and its electronic relatives will stop some in those same remote quarters the mountains of west virginia. many in several other wide scattered areas of the country the regional service centers. these machines are things of gleaming, very colored metal with numerous flashing lights, lights which do not spell out the names of stage and screen attractions and their performers. they fell it -- they spell out the federal stacks -- federal tax status of many individuals. while much goes before and much comes after, most of these complex machines are placed in operation by the simple push of a finger. >> tonight on "q&a" author jessica stern on the origin of isis and what we need to understand about them. jessica: there are two aspects of isis

economists looking for a solid gain of 250,000 although adp earlier reported less than 200,000 so we'llthe stock market is closed tomorrow for the holiday weekend. today we're off to a flat start following two losing sessions. let's take a look at the big board and see how we're doing so far. dow up by 27 after a flat start. nasdaq meanwhile is moving up by one. and the s&p is up by 2. frank and michelle, back to you. >> it's up. we'll take it after this week, huh? >> a couple of rough days so hoping to get back some of that today in the final deja no kidding. kcbs radio's financial reporter jason brooks, can you. >>> a driverless car developed in silicon valley completed a successful trip from the bay area to new york. delphi automotive's suv finished its 3500-mile journey this week. for most of the trip, the car was driving itself. the vehicle uses gps sensors and cameras to steer through traffic and brake on its own. >> the car actually handled extremely well when it saw other cars around it slowing down and following the lane lines. >> the path to total autonomy on the road faces a

other indices were down, a bad jobs report from the adp figures, real questions what's going to happen friday. whether we may be in for a downward surprise that could shock all they're preparing for, because on friday, the stock market is closed. they're looking into the future, trying to see what friday will portray. liz: bond market has a half day. we've got a full day. "after the bell" starts right now. a jam-packed market today. let's get to it, we have adam sar han who says investors should not buy on dips like this or the one yesterday. he does have a strategy, though, you've got to hear what it is, spectrum management bob phillips upon help investors find the cheapest valuations. and todd horowitz at the cme. mostly a down day, todd, is this worrisome in what do you think is behind it? >> hi liz. hi, david. what's really starting to happen now is liquidity is drying up in the market. starting to lose the volume. volatility remains extremely low, and if anybody was watching overnight, last night the dow futures were down over 200 point. the s&p down 20. they were done on very sma

today's weak report from the private payroll processer, adp, has man

if the labor market comes in -- caroline as adp singled yesterday -- 10 veer: -- tanvir: gold is rallying to the compression rate. caroline: a shortened market window to trade these treasuries in the u.s.. tanvir: the curve has been shortening. they are flattened because of inflation expectations. global growth has been capitulating. we have been stuck in a trough. even though we have seen 10 year yields. it is pretty volatile. we saw a 60 basis point increase. the spread is actually stuck in a trough. if we see dovish labor market reports -- mark: the treasury market has risen every april from 2000 to 2014. april is a good month for treasury. tanvir: the japanese fiscal year started two days ago and you're basically getting 40 basis points on the 10 year japanese bond. interestingly, last year we saw japanese accounts buying french bonds -- treasury bonds and the bond yields get compressed. be interesting to see how the waiting shifts. mark: bloomberg strategist tanzer sanded -- candace tanvir sandhu. caroline: a great day it would same. after the break we will see what is driving today'

today's weak report from the private payroll processer, adp,

there has been some trepidation about tomorrow's report given the weaker than estimated adp report.haps investors will see this jobless claims report as a sign of some better news. we are getting the trade balance numbers. we are seeing a narrower trade deficit than had been estimated. $35.4 billion. we are seeing a shrinking trade deficit. matt: thanks for that. we will stay on top of that story. other top stories we are following. talks with iran went to the night but still no nuclear deal. iran is saying progress was made. >> we reviewed all solutions. these solutions were discussed as general topics which are to be agreed upon between today and july 1 and lead to a final agreement. members are talking right now. let's see what they can do. matt: diplomats will say only that they do not have a blueprint for a deal. that world powers are offering to lift sections on iran if it thomas is not to build nuclear weapons. the water war is a statewide battle in california. unprecedented new limits to save water. the governor says the time to act is now because climate change will only ma

in the u.s., watch out for manufacturing data and payrolls numbers from adp. it is -- the euro down by 10.9%, worst first quarter on record. caroline: let's check in on the top stories this hour. google has unveiled two new chrome books reigniting the market for low-priced computers. the laptops that were available for preorder for $149 will feature all day battery life. google is promoting low and laptops as it looks to draw people into its chrome operating system. the germanwings copilot believed to have deliberately crashed the plane in the french alps informed the airline six years ago he had depression. lubitz hetold the corps about previous episodes of depression in 2009. it is the first time that the airline hasn't knowledged -- has it knowledged -- acknowledged the pilot's mental illness. officers went to getty's home. detectives from the robbery homicide division are dealing with the case. a you can find more on that story and many more on bloomberg.com. mark: nigeria has a new president. a former military ruler defeated goodluck jonathan with 52.4% o

look at adp, look at the ism services, employment component. look at unemployment claims., we were never really growing. i think 300,000 jobs per month. i think we're not growing at 126,000 either. it's a bit better than that. as for the economy tolerating the fed rate hikes i absolutely think the economy can tolerate fed rate hikes. it's just got to lower trend rate much closer to 2% to 2.5% than the 3% we've been used to. i still think they will probably do that by september. >> diane, if what david says is true why is the fed apparently so reluctant, and continually, as dudley just did, stressing its data dependence? why don't they just get on with it if everything's okay? >> well, the reality is that the fed does not want -- they're still hedging their downside. they're treading as if we're on thin ice. even if the economy below us is firming. right now, it just got thinner. the ice got a little thinner. and they have to be a little careful. the biggest mistake they'd want to avert is raising rates and having to reverse course and lower rates again. they want to really

>> reporter: this is the job report 80 peace >> reporter: the jobs report that came out today from adp first time was under to ordered thousand positions added a week this of all local data for the drop under two and a thousand is a pretty big number. with higher as well as lower oil prices and for a hundred thousand oil workers out of jobs in the united states the napa create oil done at this time the galoot oil drops he may not fill all jobs in the bay area as a very real situation. >> reporter: speaking of old oil, i know crude-oil prices are low. but gm is coming out strongly backing alternative fuel technology. and that's in your water column today we like about this tragedy >> reporter: and the longtime i think millennial cyrillic care about the planet. gm is betting on low fat of fuel and fuel efficiency high efficiency high fuel efficient as the low-cost. the strategy is a stool in the loop still in the limb the malaga's 47 mi. per gallon is a hybrid. the malibu 47 mi. per gallon per gallon is pretty smart how gm is bobbing in and out of this market. >> reporter: you mention th

the adp data 189,000 coming in below the prior one and below the estimate of 225. the ism manufacturing survey coming in again below the estimate, below the prior, and inside that ism report wills an employment component asking manufacturers how they're doing hiring coming in at 50. that's the lowest since may 2013. here are the negatives as we get ready for the friday jobs report. corporate profits have pretty of flat-lined. retail sales have been negative three months in a row. allows where i weather, low oil prices creating firings in the oil patch, and a strong dollar along with overall weak growth running around 1.3% for the cnbc rapid update. the positive jobless claims jobs, however, laying growth. we may have positive job growth from the prior strong growth. there has been a thaw-out in march and strong swrob growth trend. you can see real quickly they have underestimated job growth within the past several months. including by 2,000 in december. cathleen madigan, she compiles the data and so far today economists have stuck with their forecast for the govern

weaker than expected report on private sector employment from the adp, and doesn't necessarily mean theheless making traders nervous. obviously if labor conditions are worsening at the same time as the fed moves closer to pulling the punch bowl away doesn't bode well for the economy. if jobs numbers continue to disappoint, maybe the fed won't move as early as some think. we have to wait and see on that. in other news website host internet domain registrar go daddy started to trade this morning. priced the ipo at 20 bucks, above the range of 17 to 19 per share. last time i checked, stock was up 30%. nice pop there in the start of trade. gives the company a valuation of about $4.5 billion. there you go. go daddy. they're all cheering as they start trade. >> or as you say in south florida, go poppy. that's a different story. thanks good to see you. >>> coming up a new day a day after new england patriots owner robert craft took the stand. even more high profile testimony is expected in the murder trial of aaron hernandez. >>> and a developing story out of iran not focused on nuclear negoti

language, the contracts between telephone companies and usersñr contemplate the private use of the a)adpbeing translated back into sound waves to be broadcast out to you, but on this wire the things i'm saying are inaudible and invisible. imperceptible to someone coming along the wire. if it was a mile long, somebody spying this wire would not be able to see or hear what was happening on the wire. when they access it, they are, they are accessing information that is mine. this communication on this wire is mine. if the wire is mine or if i've renteded this wire. so it's an invasion of a property right to take this and make a copy of it for yourself. the internet works in much the same way. taking analog signals, the appearance of my face, the sound of my voice, the things i've typed, the things i say into a phone and converting them not into analog electrical signals, but digital broken up into packets and transferred out across the internet. when i hand over this information to an isp, it's subject to contractual protections, so that if you want to talk about the signal itself, the comm

. >> this we suspect is how a great many people think of adp automatic data processing. the newest text tool of the internal revenue service and a new dimension in tax administration. but this is the real part of the martinsburg monster. it's unofficial name. nearly everyone in the united states has some concern with this mechanical marvel and its electronic relative. in the remote quarters of the mountains of west virginia, many are in seven other widely scattered areas of the country. the regional service centers. these machines are things of gleaming metal and numerous flashing lights. these are lights which do not, however, spell out the names of stage and screen attractions and their performers. they spell out, in a sense, the federal tax status of millions of taxpayers, business or individuals are. while much goes before and much comes after, most of these complex machines are placed in operation by the simple push of a finger. >> up next on american history tv yale university professor talks about effect memory and biases had in shaping the historical account of t