of course, it depends on you, how hard you work. ♪ >>> and we are back with jeff immelt. since 2001 when his predecessor jack welch retired. jeff, one of the things you have been talking about and doing at g.e. is this transformation of g.e. into a digital company. on the face of it it sounds like an oxymoron. you're talking about a company that is almost defined by the fact that it makes stuff, jet engines, refrigerators, wind turbines. what does it mean to become a digital company? >> so in our parlance what it really means is how you become a better industrial company. so one of the things that's happened around technology is the advent of sensors and controls that take continuous data off industrial products. you can now model that data for the purposes of productivity and it's explosive. it is completely redefining what it means to be an industrial company. in other words, you can track a jet engine, you can monitor its performance. you can treat it as a unit of one. you know when it needs to be repaired. >> you can predict -- >> you can predict when it needs it and

another sign, i think, he's listening to the ceos, ceos like jeff immelt who always talks about the needor this to put the u.s. on a more competitive playing field. >>> on today's agenda on wall street. look for reports on weekly jobless claims producer prices and consumer sentiment. markets are closed tomorrow for good friday. but it's not a federal holiday. so the government will release data on retail sales, consumer prices and business inventories. >>> the banks will officially kick off earnings season this morning with results from jpmorgan, citi group, wells fargo, and pnc financial. busy morning for you. >> previewed this heavily yesterday. i think loan growth has been soft the last couple of months. people want to know why that is. is it a fundamental structural reason? in terms of investment banking, trading should be okay, so should debt issuance. m&a should be soft. all comes down to the earnings calls and comments on the yield curve. >> i saw some chatter about auto loans. do we expect to see anything as delinquencies pile up? people have been warning about this. >> two areas

jeff immelt says he tries to stay out of politics but he thinks it's necessary to stand up against somet's policies. i want you to listen to a portion of what he told cnn's fareed zakaria about the president's rollback of environmental regulations. >> you have done something unusual in the last couple of months, though. you have twice, to your employees, come out essentially in opposition to something the administration did on the travel ban, you expressed concerns, and on climate change policies you expressed concerns in a memo where you essentially disagreed with the trump administration and talking about how crucial it was for the u.s. to continue to be a world leader on climate change. why did you feel the need to do this? >> i say, by and large, ceos should kind of keep their head down and do their work. and in many ways, i agree exactly with what president trump is doing. but we also are stewards for companies and for brands and for people. on the travel ban, look. we have a lot of people that live in the middle east. we have a lot of people that travel. it's my duty to stand up f

himselfid: jeff immelt says that is all about the internet of companies.ey are making on that site come on the tech side. karen: we get sales and orders, and they are all growing 15%, 20%. they are not making money in it yet or this could be the year that they are spending less than they are making, so it is an important here on that front. 130 $4 billion is hard to see, but the way it is growing, i estimate you could see it by 2019, probably, because the margins are higher than other businesses. alix: what about honeywell? again, organic growth was better than expected, business was growth positive. it came out about 2%, but every business with strong, and margins were scrawled. -- were strong. they had a little bit of slippage and margin toward the end of last year, and they have been partially a margin story, but that has started to pick up as well. alix: what is interesting is they both highlighted oil and gas. you were pessimistic, david, on energy stocks. how do industrials perform when it is still wishy-washy? david b: i have been underweight energy

jeff immelt applauded the president -- >> he as a globalist. love the fact that the reason we like the border tax, we're supposed to like border tax which is a higher dollar. obviously, you have the koch brothers against the border tax and then you have trump against the border tax. >> well, trump is against -- it's not clear what he's against or what he's for -- when it comes to the tax -- tax at the border because he's talked about a reciprocal tax. he would like the power from conversations that people have had with him about it to be able to tax -- to use that tariff when necessary. >> right. that's different. >> that is different. although you could lump it in sort of with the idea of the reciprocal tax of some kind. i think the largest issue is what we found out yesterday, and what seems to be now the new rallying cry, health care again before tax reform. >> look -- >> so everybody's calendar is getting lengthened here in terms of when we'll see the tax reform -- >> there's the struggle of the trump trade. >> and even if question get into

. >> and jeff immelt may be safe for now.e's been under pressure, and ge has a first quarter beat. >>> and trump heads to treasury, set to sign some executive actions today which further might dismantle dodd/frank. reverse some obamacare rules on tax inversions. >>> and the nasdaq posted a record closing high. we have ge, honeywell and visa, one of the catalysts for the rally, those comments by mnuchin, expressing optimism about the timetable for tax reform. he said you don't need to do health care reform first. it will pay for itself. >> soon, very soon. very soon. >> well -- >> and just to be clear, we hope this won't take till the end of the year. >> okay. >> so we're having focused on it. big priority for the president. we will get tax reform done. it will be sweeping. it will be significant. and it will create a lot of economic growth. >> last night you didn't really cite that as a reason for the overall rally. >> right. well, weinberger -- it's a good interview, by my problem is the same which is there's an unreal natur