ferrari used to be a smaller piece of fiat chrysler until the big automaker spun off it's subsidiary a year or a year and a half ago. like an actual ferrari, i said this stock had an incredibly expensive valuation. there were some selling issues with the stock that made this company look more like it was due for a fall. it bolted all the way up to $60 on its first day of trading. ferrari swiftly started getting hammered. this one traded down to the low 30s. just a few months later. but a funny thing's been happening since a little more than a year ago, ferrari is coming back bigly, where the shares set a new all-time high just last week, making it the fastest growth stock out there. i couldn't resist, i have been teasing it like that all day. but it is fast growth stock. and more importantly can ferrari continue to move here s? first some background, ferrari is a household name. when you think of the highest of the high end, just insanely high performance luxury sports car, this is what comes to mind. fiat started acquiring a major stake in ferry right up until 2009, and then it spun

. >>> fiat chrysler reported earnings ahead of expectations as the automaker saw strong demand for its maserati brand and its european market. the company confirmed its guidance for the year. fiat chrysler shares went to $11.65. >>> northrop grumman said an increase in f-35 fighter jet deliveries helped that country post stronger than expected sales. the defense contractor also posted profit ahead of estimates and said it was raising its earnings guidance for 2017. the shares were off 7 cents to $248.06. >>> coming up, why the fcc wants to rewrite the rules of the internet -- again. >>> espn is laying off 100 on-air personalities and writers. the network, easily the biggest in sports broadcasting, has lost more than 10 million subscribers over the past several years, as the cost of broadcasting rights for live events has continued to rise. this is the second round of layoffs at espn in less than two years. espn is owned by disney. >>> the rules governing the internet could soon change. and that could impact both the companies that make it run and users like you and me. julia boorstin e

if you look at what has happened with board, with general motors, and with fiat chrysler can't so many other car companies, you see what they are doing back in michigan and ohio. they were leaving. there were going to mexico and many other places. they are now staying here. now, i did say -- and you know this for a well because you have seen me say it many times to the big auto companies that meetings. it is ok. enjoy your new plant. please send me a picture, insured is going to be lovely. but when you make your car, when you make your air conditioner and you think you're going to fire all of our workers and open up a new place in another country and you are going to come through our -- what will be a very strong border -- wish is already -- you have seen what has happened -- already down in terms of what is happening. way, way down in terms of drugs coming in and poising our -- poisoning our youth. general kelly has done a great job. but when you want to sell that air conditioner that car you are going to have a tax. and the tax may be 35 percent. and you know what? every single compa

general motors, fiat chrysler, and others came in short of expectation.arch is supposed to be when they rebound from declines in january and february. tokyo afterped in news that the struggling conglomerate will seek more funds after its westinghouse nuclear unit filed for bankruptcy. the company is to hold a lenders meeting and ask for additional assistance to cover a temporary surge in losses. the ecb estimates that about the need about 6.4 billion euros to bolster their balance sheets. according to people familiar with the matter it also considers them to be solvent . the ecb declined to comment. a spokesman said the italian treasury wasn't immediately available for comment. and that's your bloomberg business flash. manus: thank you. let's return to europe. stepping uprs are to deal with over $1 trillion worth of bad debt weighing down on the banks in the bloc,.the maltese government ed for action to prevent the issue from threatening financial stability and hurting growth. anna: that's according to a note circulated ahead of the finance ministers meet

fiat chris lehr.terms of the parts suppliers, remember, they're going to go where the vehicles are built and even though there's this report that there may be a nafta withdrawal, i don't think you're going to see any of the u a toe makers say okay, stop production of particular vehicle in this plant whether it's in canada or mexico. >> is is it a negotiation tactic? is a scare tactic? let's get the conversation going, get them thinking we're about to do something here. what do you think? >> what do i think? you see what has happened with lumb lumber. they're still engaged in talks. threaten a tariff, see where the chips fall. zpl you could draft the order and not seen it. >> i mean -- >> we own gm, delphi, the autos. this is not something i think i would sell the news on. i'd buy more of the stocks. this is your opportunity if it happens, there will be a negotiation. you can't just do this. too many things at stake. >> let's have the perspective that this is a president dying to get a notch on his bel

boeing, fiat chrysler, smithkline, procter gamble and twitter report before the bell.er the close, amgen and pay pal. bank of america's annual shareholder meeting today. the big vote on the table is to split the roles of ceo and chairman. that was on the agenda last year. brian moynihan won it convincingly. on the economic front, the bank of japan held the first part of its two-day policy meeting. the boj is expected to keep policy unchanged. that decision tomorrow. we'll have it on "worldwide exchange" for you tomorrow morning. >>> to a big stock mover today. u.s. steel shares are plunging after a surprise loss. landon dowdy joins us with the details. >> shares of u.s. steel tanking more than 16% in early trading today as the steelmaker reported an unexpected loss for the quarter. the firm announcing a loss of 83 cents a share. a far cry from the earnings of 35 cents that the street was expecting. revenues coming in at 2.73 billion versus expectations of 2.95 billion. the co saying while segment results improved over 2$200 million compared with the first quarter of 20

. >>> google and fiat chrysler announced today people in arizona can take the first test ride in those self-driving cars. google has spent years developing self-driving vehicles and google plans to use 100 chrysler pacifica hybrid mini vans for the next phase of testing. users will ride in the vans for routine trips around town. google and fiat chrysler hope to get all the feedback from them about their experiences. >> when you're stuck in traffic, you might sometimes wish you could just fly over the slow down. today uber kicked off a conference on flying cars. you're looking at video from the event in dallas. hundreds of people are attending. they include car makers, tech suppliers, potential investors and even government regulators. experts believe small, personal aircraft can slash commute times and reduce congestion. uber doesn't plan to build any aircraft, but some day riders could hire them through the ride-hailing app. >> you'd rather fly yourself around. a south bay company is developing an option for that. this is the flying car prototype. kitty hawk says it will be available

reporter: following the road will traveled by renault, theswagen and fiat, dieselgate scandal formallyvestigated over allegations it manipulated emissions test on its diesel vehicles. french investigators believe average eight -- above levels of pollutants as government-backed test appear to have shown. it's vehicles have never been equipped with emissions cheating software or devices, having given a similar statement in february. >> our models absolutely conform to regulations and they have no kind of defeat of ice whatsoever within their software. >> a full investigation was open on monday, to be carried out by three magistrates from the paris prosecutors's public health division. they are tasked with determining if a sophisticated system was used to cheat on you missions, after volkswagen admitted installing the devices in some 11 million cars since september 2015. >> for a while, some people have been saying we are living in the future, but where are the flying cars? prototypes have been popping up left and right. silicon valley startup kitty hawk has revealed what they call person

. >> following the road will travel to buy volkswagen and p at -- well-traveled by volkswagen and fiat, there are allegations that usual cheetah eot cheated on emissions test. a government-backed testing showing it. they say their vehicles have never been equipped with choosing software or devices and is already given a similar set -- statement in february. >> on remodels conform to regulations. there have no kind of device within their software. >> the full investigation was opened on monday to be carried out by three magistrates from the paris prosecutors public division and tasks with shed light on whether psa use sophisticated system that somehow described it to cheat on emissions. after germany's volkswagen admitted to installing devices in 11 million cards since september 2015. >> time for the markets were global wave of relief over win has boosted the ftse 100 and the cac 400 pretty the dax under the flatline after an earlier record high. the euros saw a big bump yesterday and gaining today trading under $1.09. let's take a look at more business headlines. workers at italiana ha

that was far less than the roughly 10% wall street was looking for and that ford and fear chrysler -- fiatr saw a decrease in sales. christoph: jens, thank you. he free trade deal between the u.s. and eu may be dead, but that doesn't mean the end of transatlantic ties. year. union and mexico are out to reach a new free-trade agreement. both sides want to speed up the process as donald trump threatens to slap import tariffs on mexico while also taking the eu in the process. reporter: addressing his country's trade deficit is top of donald trump's plan to put america first. >> the field has not been a level field. jobs have been leaving our country going to china and mexico and lots of other places. you will be seeing what is happening over the next few a -- few weeks. reporter: no wonder mexico is keen to revive its relationship with other partners like the eu. they have had a trade deal since 2000 say it is time to update it. eu is mexico's third-largest trading partner after the u.s. and china. last year the eu imported new 20 billion euros worth of goods from mexico. in turn, the block e

. >> the fine against fiat chrysler is huge in and chrysler's $105 million federal fine for haphazard recalls undered up at the u.s. treasury for general use. over and over, u.s. government agencies told us federal law requires them to send fines into a general pool that congress spends as it sees fit. >> i think it is a travesty. because that's money that really should go to prevention and to kpags for victims. >> reporter: rosemary is a long time crusader for automotive safe. >> 79. >> she believes fines should stay in the agencies that sniff out misconduct. >> i think probably every safety group in the country would love to see that happen. >> reporter: one federal agency told us it is set up differently. the consumer financial protection bureau. it recently fined wells fargo $100 million for opening bogus accounts. the full $100 million went to a fund that is specifically designated for financial education and victim compensation. the civil penalty fund has grown rapidly over the past three years. the fun's balance is now $305 million, but the stockpile raised eye browse. it sits

ford, gm and fiat chrysler all unveiling new ones. suvs made up 40% of u.s.ehicle sales last week. the show opens this weechblth the national retail federation says consumer spending hit a record $18.4 billion this easter season. that is good news for toy makers. they're moving in on the candy company with chocolate bunnies now competing with inedible options. it's said to top valentine's day for the first time. did you know americans are spending more on candy for easter than halloween. >> really? >> that's a lot of candy. >> interesting little nugget there. all right. jill wagner, thank you. and ahead on cbs this morning, the ceo of paypal joins us in studio 57-on-why he thinks cash may some day be obsolete. but still to come, being heard on the high court. a look at how female supreme court justices sometimes struggle to get a word in. in adults with type 2 diabetes. lowering a1c by up to 1.2 points. do not take if allergic to farxiga. if you experience symptoms of a serious allergic reaction such as rash, swelling, difficulty breathing or swallowing, stop

the prosecutor is now opening cases against vw and fiat chrysler.2013, the building of a textile factory in bangladesh collapsed, killing 1,200 workers. the dollars at the plaza put working conditions in those sweatshops under a harsh spotlight. many consumers realized that the clothes they are wearing are produced under terrible conditions. they vowed to fight for better protections of workers. four years later, things have changed, but not enough. reporter: the horror took the factory's mostly female textile workers completely by surprise. survivors and loved ones of the dead have often had to wait years for any kind of financial compensation. some payments are still outstanding. safety standards improved somewhat for textile workers in the wake of the catastrophe, but progress generally has been limited. the minimum monthly wage rose to 600 euros. unions are demanding the minimum wage be hiked to 200 euros. 80% of bangladesh's exports are textile related. the country's economy is expected to grow 7% this year, primarily because of the textile sec

egypt pushing aside security concerns and riding through cairo not in an armored pope mobile but in a fiatndow down. he backed the government's response to a growing insurgency and encouraged egypt's muslim religious leaders to teach rejection of violence in god's name. >>> now to a milestone of modern medicine. new data shows at least 1 million babies have been born in the u.s. with the help of fertility treatments like in vitro fertilization. the first ivf baby was born in 1981. in the decades since, doctors developed several techniques to help couples hav lured to the inaugural fire music festival say they are feeling burned. some spent $12,000 on festival packages, but instead of the luxury villas, gourmet food and great music advertised, many say they arrived to find bare bone tents, cheese sandwiches and many cancelled or no-show acts. the organizers say the festival is postponed and working on getting flights for those stuck there thinking they were in for the weekend of their lives. >>> when we come back, the l.a. riots 25 years later. how woman one rose from tragedy after the viol

want to be clear nobody is against net neutrality we are against a government takeover by regulatory fiat without congressional in pot well negative implicit. so moving forward i want to say if you are for competition in you are against t20 but we are looking ahead to the opentle and transparent process that is revolutionary to comment ahead of time american attack sea forms of digital liberty are excited for the road ahead of last.al liber thanks. [applause] >> we are glad to be here today to talk about the future of the internet and flourished under a light touch regulatory model despite all the evidence in the many studies that the commission voted to put the internet under the 1934 law rotary dial telephone service. and then looking for to the commission plan into did benefit from increased investment so with that son know i will turn over to you. [applause] also thanks to chairman pai to see that connectivity so over 150 years that has worked to ensure those of the benefit from the latest advance of communication technologies to gain access to them. today that is why we are committed

last month business was much lower than expected for gm, toyota, and fiat chrysler. while ford did slightly better than forecasted, but still had negative sales last month. so is the auto market that's been in overdrive finally stalling? well, it's too early to tell. but the warning lights are definitely flashing. for starters, inventories are rising. so new models are sitting on lots longer. and when they do sell, dealers are spending more to close the deals. also, there's a glut of used cars and trucks hitting the market, pushing those prices down, and making some used models more attractive than some new cars and trucks. with the march sales pace falling under 17 million for the first time since last june, this could be an indication auto sales will not rise for the first time in seven years. but how much sales slow down depends in part on how automakers handle the drop in business. >> it gets kind of tricky now at this point in the cycle, how aggressive do automakers want to be on incentives. you could use volume and trade on sales every month. by the end of the

we are against a government takeover by regulatory fiat without congressional input. that is a new jersey problem. so moving forward, i just want to say if you are for competition, you're against title 2 and moving forward we're looking ahead to this open transparent process for comments, something revolutionary to be able to comment in this way ahead of time as we weren't able to do before. so americans for tax reform and digital liberty are very excited about the road ahead of us. thanks. . >> thank you, katie. the american consumer institute is glad to be here today with chairman pai and commissioner o'rielly to talk about the future of the internet. the internet as we know it flourished under light touch regulatory models pes pite all the evidence and the.studies billions of dollars of consumer welfare loss many studies the wheeler led commission voted to put the internet under the oak of a 19349 law meant for rotary dial telephone services. since these regulations have taken effect, broadband investment has declined and broadband slowed negatively impacting consu

leaves very little room for any independent civil society; any independent press; and simply rules by fiat because it can. (mob yelling) (gun shot) - [narrator] low oil prices have created volatility in venezuela. - [levine] venezuela, not saudi arabia, has the largest reserves of oil in the world. it doesn't tap those. it doesn't tap because it doesn't know how. and it doesn't have the resources to. it's... instead treated pdvsa like a piggy bank. it's used it to subsidize the price of everything in the country. - [roth] there are horrible shortages in venezuela. the economy has been so mismanaged that you can't even get basic necessities in the grocery store. people have to search to get their day's meals. the old american adage: no taxation without representation, works in reverse as well. if a government doesn't have to appeal and service its people in order to receive taxes; if it can gain its revenue by just pumping oil out of the ground, it starts ignoring the people. - [narrator] analysts suggest the blow to russia's oil industry may be encouraging vladimir putin to distract russia

fiat is muted but that stock fell 5% in the u.s. session. we are also seeing a ripple effect through the japanese automakers as well. nissan off by 3%. we have the yen rising for a third day that is hurting autos and banks in japan. and wrapping up with kind of a car story. by 3% with cuts underway. they are talking about the need to transition to diversify away from videogame so we are watching that stock as we head into the open. jonathan: coming up, carlton everhart joins us on president trump's budget. up next, we talk about emerging markets and how the yield shakes off political risk in south africa. this is bloomberg. ♪ jonathan: from new york city to our viewers, worldwide, this is "bloomberg daybreak." futures are soft. losses on the s&p 500. weaker there. down one third of 1%. we switch up the board. the dollar is stronger. treasuries had a big big yesterday. we are at the bottom end of the range so far. reversible -- what a reversal. we talk about that in a moment. let's take you up to speed on the headlight outside the business wo

he chose to be driven through cairo in a small fiat, which was not bulletproof, and rolled down the windowto wave to well-wishers. before mass today, he rode in an open cart around a stadium, stopping to greet a group of dressed up kids as military helicopters flew overhead. violence, though, was a regular topic. to the crowd of about 15,000, francis spoke out against religious extremism. "the only fanaticism believers can have, is that of charity," he said. the pope's visit followed several attacks against egypt's christian minority, including twin church bombings just last month on palm sunday, which killed 45 people. isis claimed responsibility. francis met with egypt's president abdel fattah el-sisi and symbolically embraced the grand imam of al-zahar, a 1,000-year-old center of learning in sunni islam. there, he encouraged imams and their students to reject violence and preach peace. before departing this afternoon, the pope met with hundreds of priests, nuns, and seminarians, encouraging them to be bridge builders, too. he also offered a little everyday advice, suggesting they avoid

. >> the bottom of that brand report car were mitsubishi, jeep and fiat. >> i like this list every year. >> now people can go and buy their cars. >> there you go. >> all right. an increasing number of bay area job seekers are looking for work elsewhere. according to a d.com, 44% of job seekers in san francisco and san jose are looking outside those metro areas for jobs. the site says older job seekers are more likely to want to leave. 59% of 45 to 54 year olds are looking outside the bay area, compared with 49% of 18 to 24 year olds. indeed says cost of living could be one of the reasons behind these trends. >> a high school senior who did this, wrote black lives matter, 100 times to answer a stanford application question has been accepted. the question was, what matters to you and why? 18-year-old ziad has founded a teen social justice organization and calls himself an unapologetic activist. he was also accepted by the way to princeton and yale. he's still deciding which college to attend. >> announcer: now your accuweather forecast with sandy. >> let's check out doppler 7 right now. w

if you look at what's happened with ford and with general motors and with fiat, chrysler, so many other car companies you see what they're doing back in michigan and ohio, they were leaving. they were going to mexico and many other places. they're now staying here. now, i did say reed knows this very well because you've seen me say it many times to the big auto companies at meetings, it's okay, enjoy your new plant, please send me a picture i'm sure it's going to be lovely. but when you make your car or your air conditioner and you think you're going to fire all of our workers and open up a new place in another country and you're going to come through our what will be a very strong border, which is already you see what's happened, 61% down now in terms of illegal people coming in, way, way down in terms of drugs pouring into our country and poisoning our oouj youth, general kelly's done a great job. but when you think you're going to sell that car or air conditioner, it's not going to happen. you're going to have a tax and the tax may be 35%. and you know what? every single major compan

imposition of gay marriage through judicial fiat everywhere, all these things build up frustration because people use their parliament and congress and that is where the business needs to be done and not through unelected judges or bureaucracies. liberalism must aggressively promote assimilation especially in europe. multicultural anxiety is not only irrational. i live in london. born in a muslim country, and multicultural anxiety, and needn't be blood and soil identity but needs to be a greater thing that defines us. it eases the anxieties about immigration. nationhood, nationhood belonging shouldn't be the domain of the far right. the crisis of anxiety, the nativeborn population and immigrants. what does it mean to be german, that are liberal and good, and it drives them to the far right and among the muslim immigrants the search for identity, and and they need to talk about nationhood in a comfortable way. what is more complicated than the far right, and liberalism needs, some account of evil. the reactions to world events, tara, economic anxiety, when you talk to liberals there is not

if we make it by fiat or mandate, i'm afraid that mole will pop up out of another hole and we'll have to a whack it. david: mike rowe expressing his concern over president obama's buy american, hire american could backfire. here to discuss, deroy murdoch. mike is a simple guy but he makes a good point. sometimes when the government says we have a simple solution. he doesn't trust it. do you? >> the national association of home builders came out on the tariffs on canadian lumber. they estimate thage single family home will cost an additional $1,200. david: what would you do? you switched quickly and rightly so to the lumber tariffs that were announced by wilbur ross and the president. if the canadian government is subsidizing lumber to the tune of a billion a year, what should we do by the? just allow them to compete with our own lumber businesses? >> we had an earlier segment on taxes. i think it's similar with trade where you have different industries with deals through the congress department. i would like to see the subsidies flattened or eliminated. and we ought to give that deal

we are against government take over the regulatory fiat with out input. that is a major problem. so moving forward, i just want to send it if you are for competition, your against title ii. in moving forward we are looking ahead to this open transparent process for something revolutionary to be able to comment in this way have time as we were not able to do before. so we are very excited at tax reform and digital liberty for the road ahead of us. thank you. [applause] [inaudible] >> incorporated you katie. the american institute is happy to be here with chairman pai and commissioner o'reilly to talk about the internet.we know it flourished under light touch regulatory models. despite all the evidence, and the many studies, billions of dollars of consumer welfare losses in many studies. the wheel of that commission voted to put the internet under the yoke of a 1934 law meant for a rotary dial telephone service. since the regulations have taken effect, broadbent investment has declined. broadband slowed negatively impacting consumers especially those in underserved areas. aci looks

we are against a government takeover by regulatory fiat without congressional input. that is a major problem. forward, i just want to say that if you are for competition, you are against title to and moving forward, we are looking ahead to an open and transparent process for comments. something revolutionary to be able to comment in this way ahead of time which we were not able to do before. we are very excited about the road ahead of us. thanks. [ applause ] >> thank you. institutean consumer is glad to be here today with chairman ajit pai and commissioner o'reilly to talk that the future of the internet. the internet as we know it florist under like touch regulatory models -- under light touch regulatory models despite the evidence. led commission voted to put the internet under the yoke of a 1934 law mentor for rotary file telephone services. since these regulations have taken effect, broadband investment has declined and negativelylowed, impacting consumers, especially those in underserved areas. -- underserved areas. we look forward to writing is wrong so consume

i want to highlight fiat chrysler. you think the market is underpricing these stocks? david: yes.has been a call that is worked out very well. he has actually been discounting the five-year plan pretty severely and the stocks are still quite cheap. .n gm's case, it is an enigma you have a name here that is starting to realize the scale it should get. gobbling up stock. there is still more cost-cutting to get. also for more platform reduction. and you have a fantastic product lineup that doesn't get the credit they deserve. 2017 for gm is the year of the crossover. the terrain getting regan. it is the hottest thing in the u.s. right now. trump keeps talking to the automakers, about the automakers, tweeting about them and meeting with them. does donaldl impact trump have on u.s. automakers and the u.s. economy, in general, through the automakers? there are a tremendous amount of jobs through the auto industry. according to a think tank. bey have said that it could jobs throughout the economy that could be unrelated. the tpp recently. i think nafta is a big one because even the ameri

it sounds like he is tired of working on the fiat. it for more than 20 years. >> maybe the clock runs out. thanks, allie. we will check back with you in a bit. >>> the time is 9:09. getting paid to protest. a growing number of companies are giving employees time off to participate in rallies. >>> up next, we are going to look at the top well it's a perfect nespresso hold on a second.orge. mmm. ♪ [mel torme sings "comin' home baby"] hey there. want a lift? ♪ where are we going? no don't tell me. let me guess. ♪ have a nice ride. ♪ how far would you go for coffee that's a cup above? i brought you nespresso. nespresso. what else? >> welcome back. authorities at east texas now say at least four people were killed in owns that hit several small towns east of dallas. they originally said five people were killed but the number could still go up in the days ahead. the tornadoes touching down last night in canton, texas. several buildings devoid or were completely demolished. authorities say 56 people were taken to the hospital, including two

the fact the president worked the phones on all of these corporations, chrysler fiat, gm, carrier, and promising to invest so much in the country. getting rid of these regulations especially as it relates to coal, ending the war on coal. illegal immigration. now enforcing the laws, fighting against sanctuary cities. at the border wall. we saw what he did in syria, the mother of all bombs. sanctioning iran, syria, and then setting the table for all these things. the media, if you listen to them, it's like he hasn't done anything in 100 days. >> so my people aren't listening to that. they are judging based on what they see. they see constant action, a constant move towards progress. keeping those campaign promises and doing the right thing. he has been incredibly responsive as commander-in-chief to but his response has been swift and resolute and that as a leader. what i would also point out, if you think about it in three big categories, prosperity -- he has done so many things, sean. he is about to do some more of his tax reform. it helps the job creators, the jobseekers and also the j

toyota, fiat chrysler, and honda were also down.eneral motors, nissan, and volkswagen were up due largely to suv sales. wall street close out the day in the red. dow down 13. s&p 500 lost 4. nasdaq was off 17. president obama's national security advisor linked to the circulation of classified information in the trump surveillance scandal. our all-star panel weighs in when we come >> national security advisor susan rice have access to an unmasked u.s. citizens name? >> any nationals national secur would. >> does the white house believes susan rice may have done anything illegal? >> i'm not going to start going down that road. there is a troubling direction some of this is going in. were going to let this review go on. >> i can't say whether anything was masked or unmasked improperly. the white house seems to be doing every thing it can to point in other directions and say do not look here. there's nothing to see here. >> james: there is plenty to see here. one of the biggest stories of the already eventful presidency. fox news confir

last month business was much lower than expected for gm, toyota and fiat chrysler, ford did slightly better than forecasted, but still had negative sales last month. is the auto market that's been in overdrive finally stalling? well, it's too early to tell. the warning lights are definitely flashing. for starters, inventories are rising. so new models are sitting on lots longer. when they do sell, dealers are spending more to close the deal. also, there's a glut of used cars and trucks hitting the market, pushing those prices down, making some used models more attractive than new cars and trucks. with the march sales pace falling under 17 million for the first time since last june, this could be an indication that auto sales will not rise for the first time in seven years. but how much sales slow down depends in part on how automakers handle the drop in business. >> it gets tricky now at this point in the cycle, how aggressive do automakers want to be on insentincentives. at the end of the day it's about profits, not market share. >> reporter: that's the challenge. can auto americas

if the amount goes in as drafted, i'll support it and the fiat chrysler -- the freedom caucus. the tax increases are going right away, the initial draft version of this ball. there were obamacare taxes that stayed in place longer. now we're going to give states the ability to get out of those key regulations that are driving up premiums that are protecting people. so we have a bill much better. it's not full repeal. i'll be honest, it's not. that's as good as we can get. let's get to the senate and work harder over there to do what we told the voters we would do. >> neil: as i understand it, it allows states to open out of the insurance regulations within the affordable care act. give them some freedom here. you're free not to offer some health benefits that are included right now. again, up to the states, what have you. wouldn't some moderate colleagues of yours look at that and say that's not going to fly with me? so in order to win over you guys, you have lost the moderates? >> we'll see. i don't think so. in this bill, there's $115 billion in this bill to set up the safety

fiat chrysler sales down 5%. all of them worse than estimated. tesla set a record for deliveries and productions in the first quarter, beating estimates, shipping over 25,000 vehicles in the first three months of the year. 34,200 with the forecast for analysts. those shares are up four and a half percent. with these shares higher and four chairs lower, interesting milestone. look at the bloomberg here. this looks like the market cap of tesla in white. 40 in blue. that means tesla's market cap at $47 million is larger than that of ford. ford sold just about 3 million. it is fascinating here that tesla, which is a smaller company, predicated on growth and confidence in elon musk that the market cap is now larger. gm is the a line at $51 million. it is still larger. this is definitely something to watch. nejra: we are about 90 minutes to the close of equity trading here in europe. let's have a look at where equities and asset are trading right now on gmm. fairly -- stoxx 600 are steady. one-times 60 off by 1%. the cash 40 lower, also moving lower. s

if you look at what is happening with ford, general motors, with fiat chrysler, so many other car companies, you see what they're doing in michigan, ohio. they were leaving, going to mexico and many other places. they are now staying here. reid knows this one because i have said it many times to the auto companies. it is ok, enjoy your new plant. send me a picture, i'm sure it will be lovely. but when you make your car or air conditioner and you think you are going to fire all of our workers and open up a new place in another country, and you are going to come to what will be a very strong border, you already see what is happening, 61% down now in terms of a legal people terms of, way down in drugs pouring into our country and poisoning our youth, general kelly has done a great job. when you think you are going to sell the car or air conditioner, it will not happen. you will have a tax. it may be 35%. every single major company that i have had that conversation with has said, we have decided to stay in the united states, it's amazing. you would have thought they would have said this frankly

solved that problem by fiat. the court is a place where we actually have that -- >> eisenhower enforced it. we have these separate power structures and they are supposed separate but own equal power structure. though we look at trump and wayk he may test this is a it has never before been tested. obama, hes true with has not said i'm ignoring you. he is not ready. the big energy question -- >> before you leave executive orders, i caused to read a couple of them. they are very thin. they are more we are going to do or going to study. for example, i was interested in the one nixon tried which was executive reorganization. he failed because he needed congress and could not do it by executive action. a lot of time was spent to get around it. read trump's reorganization edit is really just a press release for a study of how we might do it. >> the travel and is the only thing that specifically directs his government to do a various civic policy act that involves people right now. courts stopped it. not been briefed on

the problem that was damaging, to say the least in the cold war, the court solved that problem by fiat. and the court is a place where we had a coup d'État. >> eisenhower enforced it too. >> we have separate power structures and they have their own their own separate but equal power structures and we look at trump and we think he is going to test this as it has never been tested and generally going tests issued an executive order, just as was true with obama and the dream act, he hasn't said i am ignoring you because he is not ready. >> before you leave executive orders, they are very thin. we are going to do it, going to study, i was interested in nixon tried which is an executive organization. he failed because he knew he needed congress and couldn't do it by pure executive action. a lot of time was spent trying to design an executive order that would get around it. trump's organization, press release -- >> the travel ban specifically directs his government to do a very specific policy that involves more people now. but the cops, the courts, stopped it. if you haven't been briefed on

and judge gorsuch he graduated from columbia university with fiat -- five beta kappa and obtained a doctorate degree from oxford university serving as a tremendous marshall scholar additionally clerking for u.s. circuit court judge and supreme court justice white and kennedy and alsoso principal deputy assistant attorney general at the department of justice before serving as said judge u.s. circuit court of appeals for the tenth circuit. so to earn the highest possible rating that is called the gold standard for evaluating nominations into bien exceptional nominee and that was extraordinary and questioning by that committee to quiz judge gorsuch on every aspect of constitutional law 1,200 and depressions and furthermore with the help of friend and former member was exemplary before his hearing with the judiciary request to provide 70 pages of written answers in the personal record in 75,000 pages of documentspinion, including speeches so the white house archives produced to 180,000 pages of documents related to his time at the doj.wever, in and then to be subject seeing claims of privilege bu

if you look at fiat/chrysler, 90% of the operating profits come from jeep and the ram truck. >> in terms of cash, they are burning a lot of cash but the start-up mode and the trajectory at which they burn cash won't be the same. they won't have to continue building a gig ga factory infin nigh tomorrow. in terms of subcitities, most of the people that reserve a model 3 are doing that without any government subsidies, because they run out. they are still willing to buy that car. >> we'll see, we'll see. if you have a situation where the cost of producing a car, labor and materials, is higher than your sale price, your business model is flawed. it is doomed. it is going to fail. i will guarantee the only difference, the reason for this inflated stock,' l elon musk, a but look at the battery plant in my estimation is a joke. there are no cost savings by making a lithium eye on plant bigger than other people's lithium ion plants. making them is a fully automated process anyways. whether you have full automation in a small building or ten times full automation in a big building, you are not sa

a new apology of united airlines in the wake of the fiat don't that took place on sunday.ideo by now when a passenger was forcibly dragged off a flight coming to airline facing worldwide backlash at the video web i wrote. osterman is releasing a statement yesterday, another statement that says i want you to know we take full responsibility and we were to make it right. i've comed to oucusts and employees that we are going to fix what is broken so this never happens again. i promise you will do better. but not enough to let stock prices? shares fell yesterday, finished the day down 1%. that wiped out about $255 million of the company's market cap. the stock continued to cite an after-hours too. we will watch it today for you. trade your earnings from delta airlines before the opening bell. the care expected to post a sharply lower profit compared to that a year ago. analysts look for slightly lower revenue. delta cut its its forecast for revenue manager for the second time in less than a month. first-quarter report comes as delta was forced to cancel 3005 because of severe

the big winners, fiat chrysler and renault as volkswagen lagged.china, auto sales have been in overdrive the last few years, but is that massive run about to hit the skids. let's go to phil lebeau live for us at the shanghai auto show. >> let me show you a chart that gives you perspective on the growth in auto sales in china. in particular when you compare it with the growth in auto sales in the u.s. we talked for years really last three years about how the u.s. auto sales have been at a record level. look at where they are in china. more than 24 million vehicles sold last year in china. this year it's a slightly different story. it's been a rocky start to the year in china for auto sales. up 2% year to date. part of the problem is that the government raised the new vehicle tax from 5% up to 7.5%. had a number of people saying wait a second, i'm not sure if i should buy now or perhaps wait for them to lower it again. as a result, this has been the start of a year that has many people wondering if china auto sales could drop this year. >> double dig

the law you talked about many times, the regulatory overreach, the executive fiat that the previous administrationn. we can't continue that process, because what happens is clean air is not advanced because you have litigation such as the clean power plan. you have a stage of enforcement on the same power plan. there's no progress being made for cleaner and we are also spending money on litigation. >> chris: that goes both ways, because the fact is, you are already in litigation on the attempt to reverse the clean power plan. you are already getting sued on that. this litigation either way. let me pursue this issue. president trump has been some act on mike is going to sit on this week with chinese president chi. we've been pushing chinese leaders to improve greenhouse gas emissions and reverse them. are you comfortable seeing the roles were reversed this week where it will not be the chinese president bush and president trump to cut down on pollution? >> scott: look, it's quite -- when you look at what happened in paris, the paris agreement and paris accord, china and india weren't required to ta

toyota, fiat chrysler, and honda were also down.eneral motors, nissan, and volkswagen were up due largely to suv sales. wall street close out the day in the red. dow down 13. s&p 500 lost 4. nasdaq was off 17. president obama's national security advisor linked to the circulation of classified information in the trump surveillance scandal. our all-star panel weighs in when we come back. but all pete needs is scotts turf builder lawn food. it's the fast and easy way to a thick green lawn. it takes grass from hungry - to healthy. this is a scotts yard. i'm going to the bank, to discuss a mortgage. ugh, see, you need a loan, you put on a suit, you go crawling to the bank. this is how i dress to get a mortgage. i just go to lendingtree. i calculate how much home i can afford. i get multiple offers to compare side by side. and the best part is... the banks come crawling to me. everything you need to get a better mortgage. clothing optional. lendingtree. when banks compete, you win. okay! ...awkward. >> national security advisor susan rice

not to mention ford, general motors, toyota, fiat chrysler. intell, carrier, too many to li, many others have promised to create jobs, and if the processi pump billions of dollars into the american economy. the trump administration has taken a chain saw to obama burdensome regulations. and he's promised to cut rules and regulations that are killing and choking off business by up to 75 percent. also getting did cole minors back to work. and he's put an end to a wore on coal that was carried out by the bowman immigration. also illegal immigration is now plummeting. crossings are down a whopping 60% that's without the border wall that the are democrats are blocking. only by enforcinghe the laws on the books that obama never did. the president's also trying to fight back against sanctuary cities, despite the all-radical left blocking those efforts, by judgedg shopping and left wing activist courts in the west coast, they talk about where are they going to bring it, to a judge that will rule against president trump. he's drafted a lan to defeat isi

as fiat money always does, it depreciated to near worthlessness and a lot of it ended in the hands of the speculators who would give one cents on the dollar. he said that a national debt, if it is not excessive, will be to us a national blessing, and it has turned out to be that exactly. it saved the union in the civil war, it saved the economy in the 1930's, it saved the world in the 1940's. why we have quintupled the debt in the last 40 years is another question. how to do that? he came up with a brilliant plan to refund the debt, refund the continentals, which would give all of the speculators profit. a lot of people thought that was wrong, they should not do that. madison said only the original holder of the debt should get the fair value and speculators should get no more than what he paid for it. hamilton pointed out that was hopelessly impractical. also he said, if you begin to decide how much money you owe to somebody, how much you are going to give him by what the paper says, people will charge more. it was very important for the government to live up to the full faith and cr