. >> so that's larry cramer. his wife is one of the four that the gunman let go. >> the original. >> yes. >> we also spoke to a former fbi agent to get some perspective of a situation on the ground there in yountville. >> here's what greg shaffer told natasha earlier this afternoon by phone. >> again, i did 20 years in the fbi. my first four years in the fbi i was in san francisco assigned to the fbi san francisco s.w.a.t. team. then after that i spent seven years on the fbi hostage rescue team. so i have been on multiple operations similar to this, and what's happening right now is they're trying to tighten the ring around the person right now who is holding the hostages. they want to give him as little room as possible to escape if he wants to escape, and get as close as possible to affect an immediate response if he all of a sudden starts deciding to shoot the hostages. so that ring is getting tighter and tighter around him right now. negotiators will be talking to him, trying to get him to release the hostage

eamon javers in washington appreciate you john harwood on the phone and to jim cramer who brought brought us this news that larryw is the leading contender to take gary cohn's job. to the half. >> cart, thanks very much so much welcome to the halftime report our break iing news continueses with reporting by jim cramer that larry kudlow is the top contender the replace gary cohn. the r report moving stocks off their lows we're going to discuss all of that with our panel today. joe, steve, sarat, ian, we want to get back out west though as a reset of

eamon javers in washington appreciate you john harwood on the phone and to jim cramer who brought brought us this news that larry kudlow is the leading contender to take gary cohn's job. to the half. >> cart, thanks very much so much welcome to the halftime report our break iing news continueses with reporting by jim cramer that larry kudlow is the top contender the replace gary cohn. the r report moving stocks off their lows we're going to discuss all of that with our panel today. joe, steve, sarat, ian, we want to get back out west though as a reset of sorts with jim cramer who broke this story jim, what do you know? >> well, look. the president has spoken to larry. spoken to larry in the last day to say he's not a, say the leading contender would be wrong, but the president hasn't picked anybody i think it's important to note the president does have differences with larry, but tha may be applauded with someone who's not a globalist, but an economist. we know he's likeded wall street i worked with larry for many years. his knowledge of rag p and reagan white house, very, very positive but the president has not

i spent four years working with larry on kudlow & cramer, and told him that he likely only aftgo the job after agreeing with the president beforehand on china. in all honesty, if you're a major believer in free trade like most investors, you should breathe a sigh of relief, why? because we're only targeting china, not the rest of the world. for me t was more a positive, not a negative i was only thinking he was going to hit china but worried that he would hit germany too. will they have a surcharge on every starbucks latte? will they have tariffs on caterpillar? will the tariff be the last? china may put tariffs on its shoes. maybe they just go that far to send us a message. perhaps they'll target general motors last year, gm sold more than 4 million vehicles in china. that's 43% increase over what they sell here how about elevators? i could go on and on i don't know a single major industrial that doesn't have a huge chinese business. like it or not, the prc is one of the major factors in growth second, the major reason we not blowed off is the rest of the world was having a synchron

fred smith comes closer to kudl kudlow's views than everybody else we had on kudlow and cramer which larryw are we going to get the one similar to fred smith's vision or trump's vision that's a good question if the pro free trade fraction preveels i think we go higher. if president trump hammers china with huge tariffs and the prc retaliates retaliates against our tech giants. think apple. you do need to realize that the stock market agrees with him and needs him to reveil if we are going to go higher stick with cramer. weeds. nature's boomerang. at roundup®, we know they keep coming back. you never invited this stubborn little rascal to your patio. so, draw the line. one spray of roundup® max control 365 kills to the root and keeps weeds away for up to 12 months. because patios should be for cooking out and kicking back. draw the line with roundup®. trusted for over forty years. ♪ ♪ >>> okay, we got through the fed meeting today. how about the protectionist tomorrow or as some would say the bite tomorrow. the president is going to initiate on intellectual property where the chinese have b

and we've all been on the other end of a difference of opinion with larry and to jim cramer's point,y saying -- i know the guy doesn't agree with anything i say but i still like him and sit down and talk with him again. that is a remarkable talent. >> good respective we'll keep it brief. thanks for calling in. we'll talk again soon. michael farr from washington joining us there on the phone. >>> around the horn. we continue to digest this but final trades for the folks who want tock names before we get out. >> i'll give you igt international game technology and they are buying upside calls. >> monsanto. buying calls in this one today. >> and retail is a sector that most people hate but within it there are winners and dick's sporting goods is one of them. that is one to own. >> we're going to send it over to "power lunch. dow is down 242 points more reaction that president of the united states is expected to name larry kudlow as the next nec director according to cnbc sources. let's send it over to "power lunch. >> welcome to "power lunch." i'm michelle caruso-cabrera with tyler and m

we had a move up when jim cramer reported larry kudlow was among the front-runners. that helped.t's not enough. we've been drifting lower. big global industrials tied to the tariffs. boeing has been a problem all day. this stock was a lot higher. this was 3$370just a few days ago. caterpillar is another problem 30 to 40 points for the downside we are seeing breakouts as the s&p was higher, we had some new highs and a number of groups out there, including the bank stocks bank of america broke out. that's a 52-week high there. i know it's up fractionally. goldman hit a new high morgan stanley we saw a lot of the regional names, we'll swing to our left, most of the big regionals are at 52-week highs. they moved down a little bit here fifth third, state street, comerica, all of those hit 52-week highs. want to note, the other group, technology stocks, many new highs. semiconductors in particular if you look at micron, nvidia, lam research, all 52-week highs there. we also have new highs of what you can call the f.a.n.g. names, microsoft. we're seeing some of them -- i'm sorry, amazon

. >> what we know about larry is this and jim cramer talked about this yesterday. he said look we might have disagreements but at the end of it it's all going to be done with class and he will be supportive of the president. but he is going to come after the president. he will come after him i honestly believe that. he has been someone who has been working with president trump before he became president trump. >> would you rather -- >> oh, would you rather. >> here's a non-stock would you rather would you rather have larry kudlow be appointed the head of the nec or peter navarro duplicate. >> that's what i think larry is. >> you think he is a due pliity cat of navarro. >> i think he has more influence outside the white house than he does after taking the job. >> interesting. >> he was a part of president trump wasn't president trump and leading into this, he was going back and forth with him on a daily bases. we talked with larry on a daily basis, did he agree with everything president trump said and did and everything else? no. >> when you are in his white house y

have a push/pull going on larry kudlow seems higher up on the list and we have rex tillerson out. >> you saw the response yesterday. the market was selling off when jim cramerhat larry might be the person on top of the list, it's not that they rallied so much, but certainly the selling stopped and we pared some of the losses so i think the market feels somewhat comfortable with that equally important, the numbers this morning were very good. that has helped build things in here we pulled back off the highs somewhat reminiscent of yesterday, but not as precipitously. i think they're going to move along. i think they see, with all due respect, what's going on in washington is kind of an ongoing soap opera there will be developments that we'll watch and see where they go you know, the president said he's putting together a new team for trade talks. so it might work there cramer believes that pompeo may, in fact, be very helpful on the intellectual property area the market is intrigued but satisfied so far >> the president did talk to reporters this morning in addition to discussing tillerson, he did shine a little bit of light on his thoughts right now regardi

larry. he used to come on "kudlow and cramer" there was a stinging piece how larry was too optimistic duringhe down turn. things are a matter of record. i made many mistakes and said things that were wrong we all know -- it was a real bad downturn but larry stayed optimistic and in some ways is it our finest hour kind of optimism no it was just i think misplaced. but people make mistakes and milbank had the quotes and the quotes were devastating and you move on from that because we all are able to be quoted and have devastating things said. i think that larry comes in with a true north growth agenda and that's what he stands for and can he be too optimistic at times? i think we can all be too op optimistic at times. i think milbank was evisceratin and it wasn't right. there are many ways to cut a lot of different slots as we call them in the business and that was a unfair terrain against a very good man who is an optimist at heart. >> yeah, does look back at the call he made about a recession in december of '07 when he said one was not coming we did get one but to jim's point, we're not infa

. >> news reported by jim cramer that larry kudlow is the next to succeed gary cohn.ry was tight-lipped we'll see. >> it's potentially consequential because there's a lot of concern about whether or not there's still going to be some kind of free market voice within the administration. >> and how many times has he come on here, free markets. >> that's right. thanks for watching "power". >> "closing bell" starts now ♪ >> live from the new york stock exchange in new york city. this is the "closing bell," everybody. i'm kelly evans. who are you? >> i'm wilfred frost >> i don't welcome, by the way -- >> you don't welcome >> no. i was going to say, i was going to say, welcome, first of all. >> thank you >> i'm pleased to be sharing this perch with you for a little on it while. we have a lot to get to, which is still

be absolutely right about that >> well, profits when i work with larry kudlow and we worked together for four years at kudlow and cramere emphasized profits, profits, profits as the way to figure out whether we're doing well the profit numbers are extraordinary. this is almost, again, we have not had larry kudlow named but this is a kudlow tweet i think it's going to happen, but it hasn't happened yet >> no, although it could be just days away in terms of them being appointed to gary cohn's previous position. >> i think so. i've got to tell you if you want to judge by the key metrics it is no doubt, of course, after the corporate tax cut, no doubt things are strong. also we've got to start doing more work on this. there are states it is simply too hard to find people to work. and the one that is going from last to first is indiana indiana has become -- i know we have kasich in ohio. these places need more workers and that's got to be a story that's told because there's other places where we have too many workers indiana, what a story. what does that say about heartland? what does that say about jobs? >> well, it's inte

he plugged in watching "fast money" if he is, hi to jim cramer, who looked outstanding this morning. >> yes reporting the news about our own larryw >> with that said, u.s. steel gained some guidance at the close. x catches up to the rest of the space. >> i'm melissa lee see you back at 5:00 for more "fast money. don't go anywhere, aforementioned jim cramer begins from san francisco right now make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer.

larry, it's official. it was -- why was it kudlow and cramer and not cramer and kudlow do you remember? did was -- we hired an ncaa football ref with a coin flip if it was heads cramer and tails kudlow and cramer and that's how it came out. i didn't want it to be alphabetical that was unfair. we brought a real ref with a real coin. there's tape of it i didn't make it up. come on, that's ridiculous no, there's tape of the coin flip and against me. >> anyway -- >> super bowl. >> now i'm used to it and you have villanova, don't you all the way? >> have to have to. how can you not? >> i couldn't. >> i figure you have to too. i'm not going to root for them thank you, jim, we'll see you in a few minutes. >> tonight on "mad money", don't miss the ceos of intel, hp and clorox company, alofl them. you're watching "squawk box" on cnbc in the eastern united states supported by innovative packaging that extends the shelf life of foods and infrastructure upgrades that help us share our produce with the world. all across new york state, we're building the new new york. to grow your business with us i

welcome to the party. >>> jim cramer is joining us now. jim, larry market and free trader guys, just watching what's happening, i think it is the same kind of with you maybe there is a bit of cutting off. at least you are finally saying stop with the -- in some respect with the dumping taken advantage. >> larry might have agreed with me last time we had a good meeting with china it was rather remarkable that mckinly was the last guy that got the deal by the way, the chinese caved in the end. people understand that the chinese need us much more than we need them it would be good to have some people come back to those businesses and maybe open here bmw and mercedes-benz, they did not listen to the president. they continue to build their plants in mexico when the president gave everybody a chance it is okay to say guys, ford came back, why did you insist on continuing to build your plant in mexico. it would have been smarter they built it in the u.s. the president going back to to 2017, why are people not listening. >> were you at goldman >> gary is my

fedex, a lot of people are wondering where is larry kudlow on the pespectrum when i work with him, kudlow and cramermost esteem ceo that he would put on would be nothing like the ceo of fedex. i am recently certain that this call has some sort of electronic device in your hand, a phone or an ipad. go to your google button and type in def and put in the word tariffs. everybody at this table do it. what happens he says it is time to do free trading and the president is dead wrong this is larry kudlow, he would suggest that fedex, what they should do when it come to aluminum and especially steel, we suggest they be bought by the government the same way we bought 35 fighters the government should buy these and we should not have tariffs wow. >> wow despite the collection of mr. kudlow, is the president going to listen? >> he's trying to get out, and the chinese have spoken and asked for more information of the nxpi and qualcomm deal and david faber says that's not the case but they're doing it. i have to tell you, that internally at least you just heard what larry said. >> jim, we'll have to go to the t

larry kudlow is the leading contender to head the economic council and would take the job if it was offered to him. cramere president has not offered the job to kudlow. kudlow, who has declined to comment on the matter, has previously helped to craft economic policy during the reagan administration and formally advised trump on taxes and other issues during his run for the presidency. he opposes tariffs. cohn announced his decision to leave the white house after president trump unveiled his tariff owes steel and aluminum. the report on kudlow comes after the "new york times" reported that weekend that christopher ladell was a fop contender to take over. but it was tweeted yesterday that the combo of our reporting and liddell's standing plus t"te wall street journal"'s editorial has moved trump off of liddell. kudlow wants the job and is a real possibly now. >>> with that, let's turn to business. the white house has announced that president trump is putting a stop to the purchase of broadcom. what's the president's reasoning behind this? i know there's some national security concerns, especially involving

cramer welcome. good to stick around and chat with us. you hosted alongside larry and you're obviously friends and -- and what do you think >> well first i want to congratulate larry he is one of our own and a great friend and this is something that i think he's been preparing for all his life whether he may have known it or not, but i have to tell you, when you watch that montage, there is a journey here it is from being free trade pretty much everywhere to maybe some fair trade to in the end acknowledging that china is targeting some of our industries i think he's right to do that. but there will be some -- i would say some tension in the white house because larry talked about -- about offering subsidies to companies like nucore they would crush the chinese they don't need subsidies. and that said, boeing if you look at moment that larry got the job, boeing had a big run. >> jim, crossing the tape right now -- crossing the tape, larry kudlow said trump offered him position as economic adviser and he's send according to thompson reuters. on your last point, jim, i

people have sort of left >> right, we did not get to go to cramer because he has sources and i am wondering if he knows of the timing for larry is he still on the west coast? >> okay. >> we'll send you over to him right now. happy anniversary to joe and penelope, "squawk on the street" begins right now >> good tuesday morning. i am carl quintanilla and david faber. >> rex tillerson is out as secretary of state to be replaced by cia director pompeo. the president heads to california today futures held in there this morning. europe is pretty flat. bond yields did drop slightly on the tillerson's news and the cpi this morning as been in