cheryl: larry shover in the cme. larry, thank you very much. adam.y swings are taking a bite out of companies in north america and europe to the tune of 7.4 billion bucks in first quarter alone. that is according to fire apps that advises clients and make software to avoid impact of currencies volatility. cheryl: which have the fire app ceo on. always great to have you on to talk about how companies are affected by currency changes. as we're going into earnings, give me a snapshot kind of where we are right now in the currency markets on a global basis. are you worried about companies getting hit with currency fluctuations for this earnings quarter? >> i think good news is, that in general the u.s. corporates are going to be less hit in this earnings season than they have in the previous season and what we expect in q3 and q4. volatility has been low. you came out with alcoa release. we did not expect them to be impacted by currencies the way they had been in the past. the reason then, you're looking at investor point of view what are companies reall

larry shover from the cme. larry, day one of the federal reserve meeting. we get big news and sometimes lately it moved the markets. >> you're exactly right. we need a move. we haven't seen anything for such a long time. today was a little bit different, we did like last week, tried to punch through the very important 1985 level in the cash. we didn't do it just like last week of the rest of the day we wandered aimlessly. as we know right now we're drifting towards the lows. tomorrow with the fed meeting it is all about tweaking. will she tweak that from the unemployment rate, from being elevated to perhaps being moderately elevated? that is enough to change the market mood. we'll see what happens. right now traders are on hold. david: chris, one thing that janet yellen knows that we don't know is what these growth states will be we'll get in. the big question what revision for the first quarter, awful, dreadful, first quarter, down almost 3%. whether we'll have a pop to the upside in the second quarter to match that. what do you think will happen there? no

mack goon, yield shares founder will tell us which market indicators that we'll see a pullback an larry shover from the cme. we begin with larry. apple comes out around the half hour here. we're looking for microsoft numbers. what a day today. transports looking very strong here. >> unbelievable day after getting clobbered with a two-by-four late in the week last week the market responded in kind in a very, very good way. it had great footing. good news coming out of china. let's not forget cpi number came out this morning, that quelled fears of numbers being crazy that we might have inflation or not. earnings numbers this morning weren't great. but overall earnings are very, very good. combine that with housing numbers which are good. people got back into the narrative. they put all the good stuff back into the frame. the market fought back. although it has trouble getting above 1985 in the cash, which is year-to-date high. so right now we're sitting close to that. it is hard punching its way through that. david: christian let's talk specifically about apple. that will be focus of a lot of ou

larry shover, joining us from the cme. larry, in the last hour, teddy weisberg on floor of new york stock exchange said you know what? janet yellen, the fed chair need to stick to monetary policy, not commenting on whether certain stocks look poppy or at least bubblicious. with do you think about what she said, quote, stretch valuations with companies like biotech and social media? >> yeah. it is the first time a fed chairman came out in 14 years and started a triple mandate. no longer is it growth and employment. it is now giving advice on sectors in the market. don't get me wrong. i absolutely love janet yellen. however, i'm not sure it is the place of the fed to start talking about bubbles again like happened back in 2000. as we know, these bubbles can last a lot longer that most of us can stay solvent. david: jason it, wasn't only janet yellen. we had retail numbers came out this morning. they missed expectations. slowest pace in five months. yet you think they look good. why? >> they're positive. anything on the positi

david: good friend of the show, larry shover chimed in on twitter, hey, retail gross march begins expandednts and profit growth accelerated to 31%. i'm glass half-full. >> thanks, larry. david: yeah, i have to figure that one out. >> the number two thing to watch next week will be the july jobs report, due to be released at 8:30 a.m. eastern time friday. economists expecting non-farm payrolls to rise by 235,000. unemployment rate is forecast to remain flat at 6.1%, usually jobs number. we think this week the number one thing to watch will be the advanced reading of the second quarter gdp after that awful first quarter. a lot of people are looking for the second quarter to come up at at least as badly as the first quarter went down. that would be 3%. we just heard a lot of analysts on this show say, if its anything less than 3%, the market could take a big hit. >> should say, one stock we'll watch on monday will be amazon because the stock lost more than 10% today. a really rough day for that stock and for the markets. david: have a wonderful weekend, everybody. >> "willis report coming up