the firm will list shares directly on the nyse so rather than issuing new shares, spotify‘s existingreholders will take their stake directly to the market. spotify launched its streaming service in 2008 and by the end of this year expects to have 208 million users. of those, just over 70 million are premium subscribers who pay for an ad—free service, but the company says that number should be close to 96 million by the end of 2018. and while spotify is expecting revenue to grow by as much as 30% this year, it's still forecasting a loss of up $290 million in 2018. with me is chris hayes, a media analyst at the research firm enders analysis. welcome to you, thank you very much for coming in. so, this direct this mean on a day when tech stock have taken a hit across—the—board, is it going to be a good idea? well, it is not exactly the ideal day but on the other hand, it is a direct listing with no lock—up period, and they're not issuing new shares, so therefore they're not getting new financing for it. so, if today is not the ideal day for it then investors can choose to trade whenever

our kristina partsinevelos joins us from the nyse. hey, kristina. >> myself included.ne of the subscribers of the share price dropped from the high. it hit a high of $169. it is now 160. why is it happening? it's a unique way to list the company. that is direct listing. thereby passing the road show and institutional banks in order to put shares directly on to the market. the reason why the company says they're doing this, they want transparency and democratic process and they want to give traditional investors a way out of the company. people are still confused how the whole process works. every thing pretty much went off without a hitch. didn't have them ringing the bell. normally they put the flags out whenever a company goes public. this is a swedish company. this morning by accident the new york stock exchange put out a swiss flag and new york stock exchange, they are witty, responded by saying it was an momentary ode to price neutrality. if we can compare how spotify is doing compared to apple and pandora, those are probably the two biggest competitors right now.

. >> what does this say about the nyse getting this kind of listing. >> i don't know.be it's the more the bangers that are being shut out more that would be more problematic i guess. it's interesting i'm very curious how this trades, i'd probably be at the sidelines but it's interesting. >> >> it's extraordinarily important for the new york stock exchange they've had a series of -- i don't want to say missteps it's not like the eagles greatest hits, i think the greatest selling album of all time, i know you're a fan. >> i was just thinking about that. >> we were just talking spotify. that being said, it better be extraordinary, it better be seamless for the nyse. >>> that does it for us for our first hour of special vegecora we have another jam packed hour coming up right after this short break. stay tuned it's why brighthouse financial is committed to help protect what you've earned and ensure it lasts. introducing shield annuities, a line of products that allow you to take advantage of growth opportunities. while maintaining a level of protection in down markets. so

i want to go to gerri willis down on the floor of nyse. gerri, my goodness, we're down 55 points right now. >> compared to 500. that's better. trish: wild, wild, tons of volatility. walk us through it. >> you bet. he is what we're looking at the dow down just 55 pois. it has been an incredible tumultuous day. s&p 500 down marginally here. nasdaq looks like it is higher at this point. do i have that right? nasdaq higher at this point? we'll check that for you. meantime the dow losers, boeing down 2.85. caterpillar down 1.84. intel down 1.31. exxon and chevron having a big combined impact on the dow, bringing it down the most. you see it right here. boeing is assessing the situation with china but all of these stocks getting hit by these china worries, these worries about tariffs and taxes on u.s. goods coming into the country. i have to tell you. it is not this way across the board. stocks that you might think would be down, gm, ford, higher. monsanto, flat. they are the biggest producer of soybeans seeds on the planet. that is certainly su

the nyse rolling out trading for the nasdaq, for etfs. they're doing it here and doing it very methodically. that would include names such as amazon and google and today was to be the first day of trading for these particular stocks that trade over $1000. there was a technical glitch. so they did not trade here at all. there was no trading until the end of the day. they will work on it overnight. traders will get notifications whether or not the program to trade these will happen. if you trade in alphabet and amazon have not been affected. these have been trading beautifully at all other exchanges. worry not if you read any headlines. this is something new at the nyse rolling out very methodically and carefully. the last thing they want to do is mess up those trade. back to you. >> if i owned stocks i would just be happy. i don't know i would be worried about it. nicole, thank you. david: there's a lot of happiness going on despite ups and downs. let's bring in today's panel. jonathan hoenig from capitalist pig hedge fund. fox news contri

on thursday beaued on the nyse. you were on the nasdaq. what was the decision one makes to decide where to list? what goes through your head? >> yeah. technically speaking probably the differences on aren't that significant. in our case, the relations played a big role. the nasdaq worked with us. >> are you comfortable? i mean, when you go public, you're in the public eye. there's quarterly reporting and obligations and legal and otherwise and you wouldn't have if you sold it. >> yeah. >> selling wasn't in the cards. this time. so when you want to build a lasting company, then you say how many lasting big companies are private? there aren't that many. most of my companies are large enterprises. ge and auto nation. they want to do business with public companies. for us, number one reason to go public was to be able to do business. >> i want to squeeze in one more question. you alluded at the beginning of the interview. your first company you built with your wife around the kitchen table. you know, compared to taking a company public for a v

bob is breaking it down at the nyse. >> that's right. it's been a big month for energy we are finally getting some rotation into the commodity stock. energy up 9% for the month outperforming the s&p's gains of 2% oil service stocks like transocean and halliburton are up over 12% as a group companies that explore for oil and gas like devin and con know cole phillips up almost as much. the main theme here is four-year highs in oil it may go higher because production is getting cut back ef slummer shea reported earnings this morning. the oil market is now in balance are the ceo as a words production declines in many countries like angola, norway, mexico, malaysia, china and indonesia. that production in venezuela was in free fall his conclusion supply is becoming increasingly constricted. the implication is that prices will likely be higher unless there is a significant rampup in production we hear a lot about this next week when chevron, conoco phillips, all report the key is whether the big guys will ramp up capital spending to capitalize

>> it is spotify's big day the music streaming service set to go public right here at the nyse we'llsiness model that shook up the industry >> why spotify decided to go with direct listing, the first since google's option in 2004. what the move could mean for the future of tech ipos. let's take a look at markets we are trying to make a run for some sort of recovery in today's session but pretty weak gains across the board the dow higher by 95 points, s&p up by 4 1/2 points nasdaq higher by .1% right now this of course after a very volatile start to the week let's bring in chief strategist with jeffrey sam stovall where are we here? >> testing, trying to decide whether this correction has finally run its course, or whether we have a little bit more to go i don't think we are going to be heading to a bear market because in my opinion the fundamentals have not changed we are not headed for recession. there's the old saying that when the u.s. sneezes, the rest of the world catches cold it's been the other way around at worst, the rest of the world has simply sniffled. that implies we're

this as oil stocks head into a big week of earnings bob pisani is at the nyse breaking it down. >> reporter's right, melissa, it's been a big month for energy we are finally getting some rotation into the commodity stocks energy is up nearly 9% for the month, far outperforming the s&p's gains of about 2%. but oil service stocks like transocean and halliburton are up over 12% as a group companies that explore for oil and gas like conoco phillips, they're up almost as much. the main theme here is four-year highs in oil and it may go higher because production is getting cut back slumb slumb slumberger said there were production declines in an goala, norway, mexico, malaysia, china and indonesia and that production in venezuela was in freefall his conclusion, supply is becoming increasingly restricted the implication is prices will likely be higher unless there is a significant ramp-up in production we'll hear a lot about this next week when chevron, exxon, conocophillips all report. the key is whether those big guys will ramp up capital spending to capitalize on the higher oil prices and wheth

we begin with one of those companies affected by the nyse data glitch. alphabet. its rating was raised buy from hold at stfl. they cite alphabet's serious approach to the seriousness and privacy of the consumers. price target is $1,230. it rose to 1,22.99. it was raised from market u perform ter perform. the analyst cites the company's focus on direc to consumer. the price target is 100 and that's pretty much where the stock is trang now. it's at $101.15. >>> still ahead, a maj beer cost concern for thoad saving or y in retirement. >>> comcast has confirmed its $31 billion bid for european pay tv operator skye. has prompted skye to drop its offer from rupert mourdock and fox. they said a comcast/skye get together makes sense. >> love our core businesses and anybody who's viewing this as some diversion from that is not reading us properly in my judgment. we didn't choose to put play or any other asset in play. that event happened around and the question is, do we take a look at it and engage. >> separately, comcast earnings and revenue were out this they topped est

du listed canadian stocks on the nyse and the nasdaq continued to trade normally during that outage. rmal trading in the canadian exchanges is expected to resume on monday. >>> it is time to take a look ao so today's upgrades and downgrades. microst's rating was raised from overweight to neutral over at jpmorgan. the an looiss cite strong growts inloud business. the price target is $110. microsoft shares rosore than 1% to 95.82. >>> facebook's rating was raised to buy from hold. the analyst says the stock is just too cheap to. igno that's a quote. the price target is $202. the stockowinished today just a fraction to 173.59. >>> shares were upgraded to buy from hold over at hsbc. the analyst cites a turn in the u.s. marke nike and a lower tax rate. the price target is $77. nike shares rose 2% to $69.56. >>> still ahead, why the newest avengers movie is box office gold for disney. >>> it is shaping up to be a blockbuster weekend for disney. theatest marvel avenger movie is making its debut and it's already off to a running start. juliboorstin looks at how big this super hero blm is exp

that is the big spread for spotify, being held down at the nyse.ng you the first trade as soon as we are together. this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. mark: i am mark barton. french rail workers kicking off 36 days of striking today in protest of government plans to perform the rail services. caroline reports from paris. chaosdays of travel across the country today. 77% of as many as drivers went on strike, causing major disruptions with only one and one in five regional trains. situation was likely better for international trains. three quarters and 90% to brussels running. , theeason behind this first government is planning to end the walkers. apparently, they have a job for life. earlier, more benefits due to of the job.nditions and it before the opening by 2020. on one side, the unions hoping there would be a rolling series until the end of june. this would force the government to back down on reform. on the other side, the macron government hopes it will just end up turning the public against the union. despite l

the count down of spotify, taking another look of the market more "squawk on the street" from the nyse is straight ahead so lionel, what does being able to trade 24/5 mean to you? well, it means i can trade after the market closes. it's true. so all... evening long. ooh, so close. yes, but also all... night through its entirety. come on, all... the time from sunset to sunrise. right. but you can trade... from, from... from darkness to light. ♪ you're not gonna say it are you? - anncr: as you grow older, -your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life. sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and d

counting down to the opening bell six minutes to go before trading on the nyse, bed, bath and beyondoften tell you when you have open rebellion by the analyst on a conference call, this stock can't go up raymond james just downgraded this to an absolute sell this was a very bad conference call it was bad because what they said is, look, we have a million concepts and they're all great and watch us execute, but oh, by the way, it will cost us a lot more than we thought so even though they have that and they have face values. i know you're a big shopper there, what you end up with is are you kidding me guys? the only saving grace is the balance sheet. >> for quite some time, except perhaps not correctly they were buying back stocks and dl seemed to be a creepy lpo >> the that's how w-r-o-n-g i was on this. >> it's always good to admit it. it's always good that they would do an lbo, and not that they would have the trouble people will have. >> the amazing moment is when they talked the toys "r" us and babi babies "r" us are going out of business they say in canada they still exist. are

go to nicole petallides from the floor of nyse. >> so many people own apple in some way, shape or formyou may not only directly but own it in the major averages. among the dow losers, apple, ibm, coca-cola, those are laggards across the board. you have down arrows for the dow, nasdaq and s&p. the dow would have to be down 300 points to be negative week. they're all higher for the week, up three out of the four last trading weeks. s&p is down 19. let's look at tech stocks now on heels of apple. it is spreading among the group. you can see everybody is not biting into tech this friday afternoon. microsoft down 1%. intel, that has been a chip story. that is down more. it is interesting yesterday mizuho and intel and microsoft were being sold off a little too much. lastly look at oil and ge. west texas, 68 and change. general electric is a star. did well on quarterly numbers and leader on the dow jones industrial average. we're ending with some green, 4% to the upside. trish: thank you very much, nicole. coming up we'll have latest on comey mem most -- memos with viewed death miller, the w

coming up, spotify's nyse debut. how did its approach to going public fair? -- fare?e will talk to a key investor, next. check us out on the radio. this is bloomberg. ♪ julie: -- emily alibaba is : stepping up efforts to expand into china's food and delivery market. move signals the desire to compete with tencent in that market. sony stands to reap almost $1 billion from its stake in spotify. the amount reflects the stock sale on tuesday and a higher value of sony's stake after spotify's listing. sony operates the world's second-largest record label and largest music publisher. this of course after the sweetest -- swedish music streaming service kicking up trading as a publicly listed company with a share price under $166. spotify has more than 70 million subscribers valued at $28.7 billion. bloomberg's caroline hyde spoke with an early investor a day after it started trading. >> the company has a few competitive advantages that is very hard for the others to replicate. one is that it actually reaches the entire device ecosystem, not just apple products or within the

thanks, eamon. >>> down to melissa at the nyse. >> spotify just opening moments ago.et's about ink in rob sanderson, senior analyst, with a buy rating, 12-month price target of $200 >> thank you in terms of comparisons in the market, everybody wants a comparison is it netflix? roku what is it. >> i think it's something like a netflix, we can debate the discount because of the margin model and the lack of exclusive content, but right now it's trading around three times sales, where netflix trades 6 1/2 to seven times sales i think there's room in that >> you are recommending declines that they buy the stock. is there any trepidation, rob, about the first day of trade it's opened without a hitch, but in terms of later on, there is no broker to step in and support the stock later on there is a lot of shares that could potentially be sold on the open market still. >> yeah, there's definitely been trepidation about the process itself, and i think the longer concern from many people was more on the supply side. right out of the gates, i think they have done a good job of ma

i want to go to the floor of the nyse to figure out what is going on?e're hearing, nicole petallides, that 10-year yield crosses above 6% as well as earnings reports may be, forgive me, thinking 10-year yield. the 10-year bond. but anyway, as well as caterpillar, maybe not having as strong a sense of the future. what is really driving this? because it just happened all of a sudden. >> trish, you're so on point, mentioning the 10-year yield and caterpillar, those are two driving forces they're certainly talking about here on wall street today. so let's take a look first at the major market averages. the dow is down 600 points. that is down 2 1/2%. just about every sector in the red, materials, industrials, energy, technology, all in the red coming under pressure. even those names that beat the street, there is concerns going forward. caterpillar came under pressure. some with names on earnings newsom which beat the street but they gave outlooks that were weak. that would be caterpillar for example. which you can see, which is weighing on dow jones indust

joining me from the floor of the nyse, tjm investment trader tim anderson.hat do you hear on a day like today? it has feeling like it is heading lower and lower and lower. >> never a dull moment, ashley. we have opportunity to have 90% done volume day and hold the lows from monday's close which was about 2580. ashley: on s&p. >> on s&p. that might actually be a positive to set us up for next week. now there is a tremendous amount of moving parts in the market. the trade banter, or negotiation, if you refer to call it that. the jobs number this morning was clearly a little disappointing. but i think there was a little by of give back from the number we had the previous month. and the market, it might have had a little bit of a hiccup an hour ago to some of chairman powell's comments although i think the markets may be acting a little spoiled in that regard. he mentioned we're on track for four rate hikes this year, just after the jobs report this morning. ashley: right. >> fed funds futures pricing in only 25% probability of a fourth rate hike but the market

perhaps a little buy on the rumor, sell on the news let's go to the nyse. nicole petallides is tracking it all. you would think they would be like some. earnings. >> i heard a trader say, buy the rumor, sell on the news. as you noted we had good numbers for financials that reported thus far. we're looking forward to 21 of them next week. bank of america, goldman sachs, morgan stanley, american express. so earnings season is underway. so far so good when we look at jpmorgan, pnc, wells fargo. pnc and wells fargo lead financials to the downside. another thing brought to our attention by senior editor charlie brady seeing the spread between the 10-year and the two year, that is lowest in 10 1/2 years, since 2007. why do you care? the difference tweens these rates that the banks charge lenders and what they pay on the deposits. that hurts profits that is one of the reasons we see financials to the downside. for the week we have up arrows, trish. most traders noting resiliency of the market with all the headlines this week. trish: i love the resiliency. nicole,

s in nyse doing more and i guess we'll hear more tomorrow morning on this particular news. trish: nicole, thank you very much. bernie sanders wants to guarranty every single one of us a job, everyone, every american worker. not only will you get a job, you will get at least $15 per hour. you will get full benefits, nothing less. there is a question for mr. sanders, where are these jobs coming from? do we need all these jobs and how are you going to pay for it? is it going to be on the government's dome? we'll debate it next. jeff and susan are heading into retirement. and market volatility isn't top of mind. that's because they have a shield annuity from brighthouse financial, which allows them to take advantage of growth opportunities in up markets, while maintaining a level of protection in down markets. so they're less concerned with market volatility and can focus more on the things they're passionate about. talk with your advisor about shield annuities from brighthouse financial- established by metlife. trish: bern -- bernie sanders is back at it. full benefits jobs an

take on both in a minute, but let's get to morgan brennan with the details on ge he's live at the nysewe had a

go straight to the floor of nyse with ashley webster. a trader went by and said, lord have mers system we're down 3% on the dow, 3 1/2% on the s&p and 3 1/2% on the nasdaq. it is that kind of day. fears after trade war are certainly there. it certainly adds to the mall lace bubbling on the backburner. let's look at laggards for you. i want to talk about the tech sector. laggards for you today on the dow. we have walmart down. we have intel. we have skis comoving lower today. we have home depot and we have nike the tech sector is getting walloped today. the tech sector led the market so long to new highs. now leading it perhaps down to new lows. let's look at the tech sector for you, amazon, if it finishes down more than 66 points it will be the worst point loss ever for this stock. the dow losers are right there. for the technology, amazon getting slammed again. it didn't help the company is in a twitter war with the president amazon is not really saying anything but the president does. we know issues with facebook. 3.3% on the downside.

debuted on the nyse yesterday, had a nice pop. here are the folks from san mateo ringing the opening bell. futures call for a positive open again this morning. reports say president trump is interested in getting back into the trans pacific partnership, tpp, rejoining the tpp if we can, would actually fit in with the president's strategy. the tpp was set up to reduce china's economic influence in the world. all of these countries are in the agreement and china is not. this is intentional. we teamed up against china. but mr. trump pulled us out of the tpp the day after taking office. >>> other news almost tax day. people who made money on bitcoin may be in some financial trouble. there's a guy on reddit, don't know his real name but he's an office assistant, he turns out he bought bit coin sold at the peak and made $125,000. and then didn't save any money to pay capital gains and spent it all. the title of the post is i just discovered i owe the irs $50,000 i don't have because i traded in cryptos and by out of luck although he did

nicole on the nyse. >> trish, dow, nasdaq, s&p in the green. nasdaq is set to snap its recent losing streak. now on pace to snap a five-day losing streak. we'll get to tech in a minute. we look at dow jones industrial average you have 2 66 points, visa, home depot, mcdonald's really leading the game there today. that accounts for half the gains on the dow jones industrial average. looking at 10-year bond yield i was going to say below the 3% mark, as i look up there, it is going back and forth, right at 3% at the psychological level. we have earnings season underway. today is the busy day so far of the quarter. 45% of the s&p 500 companies have reported. 80% have beaten on earnings per share. look at chipotle up 25%. advanced micro, 13%. big moves here. ups also a winner. after the bell we'll watch amazon. that is the big earnings story today. we have a slew of them to watch. big focus is amazon web services. over the last eight quarters it beat earnings estimates six times and revenue estimates seven times. we'll watch for that one. keep it ri

may be here as block china and bitcoin related names continue to go gown bob pisani is live at the nyseh more. >> once high flying companies associated with cryptocurrencies are crashing alone with bitcoin. riot peaked at $46 in december down 86% since then. overstock.com weaked at 86 in early january. down 61% since then. remember all the blockchain etfs that started at the height of the cryptocurrency craze that was back in early january the s.e.c. wouldn't let them use the word blockchain in the title. that's how silly it government here's one example blok is the symbol only 14% below its january highs. it says it provides access to an actively managed basket of global companies at the forefront of blockchained based technology sounds good. taiwan semiconductors, nvidia, intel, ibm they have little exposure from the blockchain and little in revenues from that the reality is not enough companies that have exposure to the blockchain, there isno rea stocks to invest in. we need a bigger ecosphere for this, we need exchanging to go public that's not happening a least not yet. finally the

dan nathan back with me and dom chu of cnbc down on the nyse floor.ow this, volatility, if nothing else, is back. >> volatility is back, but it's not back in a hugely massively way. it's back in a more normal way. you talked to a lot of traders and investors out there and they say the last two years we've seen the marketplace, where the marketplace didn't do anything but go up over time, is not typical of a stock market we would normally see. what we have is a market that gyrates a little bit and that's what investors are more accustomed to. so in that way, the pullback we saw yesterday, it was, yes, a big one, but it wasn't nearly as panic driven as some people want to make it out to be. what we didn't see a lot was a lot of participation. so whether or not we do see some of these bouncebacks hold today will be key. we have seen in the past where markets start off positive for the morning but then fade for the afternoon. whether or not we see these gains hold, that could be a big test for this market overall. >> help me understand why do investors so

let's go down to nyse. nicole petallides is -- hey, nicole. >> trish, you're right.ee facebook up for the second day in a road. everybody is talking about what we'll hear today. a lot of ethics and is there legislation going forward and will tech companies do things they need to do. markets are up 458 points. had been up 532 points. it had more than 300-point moves 14 days in a row. we have never seen that in history. s&p up 7%. dow winners are dominated by industrials, financials, boeing, goldman sachs, caterpillar, those are among the best performers, tech stocks, also with up arrows. of the facebook front and center today as you noted, see 161. apple up to and big move for sprint-t-mobile. largest increase since 2016, since is the end of the summer since 2016. it is almost up 20%, trish. all on that the talk they rekin dilled, sprint and t-mobile restarted their talk of a deal. this is the combination for third time in four years. we'll see what happens. back to you, trish. trish: nicole, thank you very much. as we await zuckerberg's testimony we're joined by bell

down to the floor of nyse nicole petallides is looking at all the companies. nicole, fill us in. >> trish, you're absolutely right. we're getting good guidance from these companies as well. everybody getting off focusing on corp. earnings. bringing the dow nasdaq and s&p back to positive territory here is how the major averages are faring. down from earlier highs. you mentioned jpmorgan which beat the street. we heard from bank of america yesterday. goldman saks this morning and tomorrow morgan stanley and american express but the trend overall has been very fine numbers for the quarter. then we take a look at netflix. of course netflix wowing everybody on wall street. all new record all-time high. we'll have a record close likely here. the first of the big techs to do that in some time. the stock is now up 29 bucks. 17 analysts upped their price targets some which are at 350. it has 129 million subscribers worldwide, the latest count. they continue to have subscriber growth. last but not least, ibm after the bell today. that will be key. it has done well over

take on both in a minute, but let's get to morgan brennan with the details on ge he's live at the nyse. >> that's right, so we had an earnings beat, top and bottom line for ge. 16 cents adjusted. that was 5 cents better than expected revenue, $28.7 billion one of the big things here, ge reaffirmed its 2018 guidance of $1 to $1.07 earnings per share and free cash flow coming into the report, a number of analysts expected to see the guidance cut that was taken as really a positive the company saying that is on track to cut costs this year by more than the $2 billion it had been targeting it did, however, state it is reporting a reserve of $1.5 billion. that's tied to the legacy wmc subprime mortgage business that ge was involved in before the crisis there's an investigation there that's been under way for the past couple years with doj so taking a charge there no updates in terms of the s.e.c. investigations under way. with accounting. really sort of the bright spots in the report for the first quarter, aviation, health care, actually transportation as well. power continues to be a big d

nicole is the floor of the nyse with the fox business brief.orter: major averages under pressure and so are shares of pharma company insight plummeting. down over 22% following disappointing results of melanoma treatment that was used along with merck's key truda. raymond james cutting price target to 89 bucks from $159. the biggest laggard in the s&p 500. >>> after turbulence started the year, wynn resorts may sell itself to rival mgm resorts. matt maddox may be temmed to sell the casino if the price is right. mgm ceo said they weren't interested. others say the interest is there. shares of both companies down today. >>> amazon found another industry to jump into, mobile payment. e-commerce giant is considering using alexa to start person to person payments, that would rival paypal, venmo, both amazon and paypal are falling. amazon under pressure, down 47 bucks. lots of news around amazon. >>> up next, sheryl sandberg with news on that on "countdown to the closing bell." running a small business is demanding. and that's why small business owne

let's bring in mike santoli from the floor of the nyse. that seems to be the gripe going into earnings, we both talked to so many people who said earnings season will be it. the markets will take off. what have we seen? not much >> not much yet. certainly, that could change i often find as earnings season goes on, you see a slightly different tone develop in the back half, but i do think one of the key issues coming in, an interesting setup to earnings season because normally forecasts get marked down ahead of reporting season. and then it becomes much easier to hurdle. this time, it doesn't come down, which i think paradoxically, even though we have beaten the numbers, it was very little doubt in investors' minds that numbers will be okay if you had the list of exactly what investors and traders were most worried about, earnings coming through wouldn't make the list it was all about macros, all about rates. and here you had the dollar rally as well. that seems to be much more about this ongoing correction process that we have been in that

nicole petallides on the floor of nyse. markets love that trade talk today. >> they do. check out all the green on the screen. intel, boeing, dupont. dupont you can see goldman were among the best performers on the dow. the dow gaining 293 points. we're off the 400 point gain but still a winning day on wall street. our third up day in four. this is winning week as well. we've seen some sectors with up arrows as you noted right at the top of the show. we had stocks hit the high right after president trump was asking his advisors to study joining tpp rallying after saying the nafta deal was pretty close. all those worries about geopolitical headlines from syria to russia to china to trade wars, those are off the table today. taking a look for the week, we see both dow and s&p up 2.3% this week. tech-heavy nasdaq up more than 3% for the week. all about bank earnings tomorrow. netflix on monday. this is what we'll key in on. you can see all moved higher. citigroup up 2.3%. jpmorgan up more than 2%. what will we hear? are banks doing well with volatility? not necessarily. so

ashley webster is still at nyse for more on this. >> this would be all-stock offer, david. that would set the scene for some pretty tough negotiations. we understand cbs's independent board likely to offer a old stock option that would value viacom below market value as it stands right now. the other proposal that is being reported by reuters is that cbs chief executive les moonves would actually propose to stay at the helm for two years if this merger or deal goes through. that is also, we understand, they're trying to get this done before each company reports its earnings in may. pretty interesting, could this bring these media companies back together, 12 years after they split up. we talked about it. agonized over it for so long. but we understand at least an offer has been made but it is below market value. we'll see where it goes from there. david: they really want moonves to stay on. ashley, thank you very much. >> my pleasure. david: melissa. melissa: an army of migrants heading towards the u.s., a caravan of over 1000 people marching from central america through mex

joining us now to weigh in walk us through nyse global head of listings, thanks for joining, how doese price together right now you don't think going to hope right away right? because it is going to take some time to come to that. >> i it will tick a while to distinguish different from ipo and direct lifting ipo you have a company ole chief among benefits ipo you have a company going to raise capital use that capital to grown business possibly return to shaefrmdz so they can invest in next wave of technology companies to raise brand and profile spotify not focused on those they want benefits of a publicly traded company so they are focused on just being listed, having liquidity using shares throughout to acquire other companies, that is a different model it is going to take a while on trading floors to get that stock up, because you don't have investment bank you have in ipo you don't have stabilization agent supporting stocks. >> you have people who own shares as privately held company right now selling shares to the public; is that correct? ? simply as that? >> only people that can

spotify launching its direct bid on nyse. david: good morning.iting day, looking forward to the marketplace. alix: i am sorry. david: i'm sorry, too about michigan. alix: you called it, villanova was really good on offense. david: the question was whether michigan defense could slow them down and we couldn't. it is a beautiful day in new york. the snow littering some of the building tops. routs,was all about the and tuesday seems to be about the recovery. equities in europe off the lows of the session. risk on currencies taking front and center. yields are very stable. from a terrible slide yesterday, catching up to technical selling. david: let's find out what is going on outside of the business world. kailey leinz is here with the "first word news." mike: -- kailey: president wants to outline the broad details of the nafta plan next week. technical talks on the finer points of the trade deal and the legal text would continue. china is warning it will retaliate if the u.s. imposes tariffs because of alleged violations of intellectual property ri

we have seven minutes before we get started with trading at the nyse it's time for jim's mad dash aheadthe market open where are we headed? >> they blew the numbers away. premarket increased 270 basis points a value of net new orders. well, you know, we ought to throw the president in the middle. >> that happens to me a lot, too. president trump welcomes president macron from france. >> members of the french delegation and distinguished guests, welcome to the white house. mr. president, melania and i were honored to visit your majestic country last summer now we're thrilled to host you and your wife here in america. the wonderful friendship we have developed over the last year is a testament to the enduring friendship that binds our two nations. it is truly fitting that we're holding our first official state visit with the leader of america's oldest ally, the proud nation of france. [ speaking in a foreign language ] this morning we send our prayers to the bush family as we wish former president george h.w. bush a very speedy recovery. i also want to express our deepest sympathies to th

company's freshly minted ceo is speaking about his plan to turn it around morgan brennan joins us from the nyse with that morgan >> so at a cnbc event last night, ge's ceo shared his vision for the struggling company a year from now. >> the reality is in one year, we have to have proven, you know, and we have our first report card coming out on april 20th we have to have proven we can run the company better and improve the results and get the essence of the company to shine. >> and he's referring to the first quarter earnings which are due next friday ahead of a shareholder meeting the week after. he's saying his relationship with a board member has been very positive. >> i want the exact same thing at the board i like the idea that they've got, you know, good well researched thought through ideas. i found that relationship in their involvement to be very positive. >> lastly, flanry chiminery saye believes this will sort itself out. he does expect a lot of noise and drama along the way. i'll also note ahead of results next week, ge is expected to restate 2016 and 2017 earnings due to new accoun

only" because we were down as much as 620 points, so there is the bell, ringing the bell here at the nyses hotels and resorts, and at nasdaq is iea we are down around 420 points at the close. kelly? >> thank you, i'm kelly evans, not as bad as it could have been is all you can say right now we were down 619 anotht the lows hours ago. still 1.75% decline. the s&p down 1.3%, a 35 point drop, and nasdaq at 1.7%, and russell 2,000 is interestingly holding up, shedding eight or nine points to 1553. earnings movers in the market, 10-year hit 3%, and comments from the president this afternoon could have shaken things up. we'll get to that. also, big names reporting earnings after the bell today, and meg has amgen, and ontessa has wynn, and pete is monitoring numbers from texas instruments see you in minutes joining me now to talk about the markets is michael, bill smead, and charlie -- by the way, charlie, didn't you assure me we'd beat? the bar was not too high >> we have beaten earnings the earnings have been great it's just been some guy at caterpillar said this was the peak, which i don't kn

stocks from the nyse continues in a moment. there was an idea.o bring together a group of remarkable people. to help save the universe... from paying too much on their car insurance. hey, there's cake in the breakroom... what are you doing? um...nothing? marvel studios' avengers: infinity war, in theaters april 27th. now...where were we? >>> single digits days of earnings season. reports out. chipotle and southwest, we will get more on both and the opening bell in just about seven minutes. ♪ when i first came to ocean bay, what i saw was despair. i knew something had to be done. hurricane sandy really woke people up, to showing that we need to invest in this community. i knew having the right partner we could turn this place around. it was only one bank that could finance a project this difficult and this large, and that was citi. preserving affordable housing preserves communities. so we are doing their kitchens and their flooring and their lobbies and the grounds. and the beautification of their homes, giving them pride in where they live, will

maybe the last interview but i'm sure we'll see you again back to you guys at the nyse >> and the beautiful of the new york fed steve liesman chatting with outcoming new york fed president bill dudley. has about two more meetings left as new york fed president. he always gets a vote at the table. what stood out to me is dudley on the markets doesn't think these crazy swings and the wild volatility is anything really out of the ordinary. some of the headlines dudley says rise in market volatility, a return to normal world stock market values do not look unreasonable so for those visitors looking toward the fed and that previous yellen put, whether there's a powell put or not, it doesn't seem like these conditions are warranting that. they seem to be okay with what's happening in the markets >> indeed. watching yields closely. volatility trade barriers bad for the u.s. economy in his view. >> he did back up the view that the chinese currency has appreciated, as i said earlier as the president tweeted wrongly. >> yes >> as we head to break, look at shares of bank of america here we're still in

. >>> six and a half minutes to go before we get started with trading at the nyse. it's a hump day!ant to talk about texas instruments. t.i. it has a lot of different names. is that, david, a lot of people were short this. betting it had to be one more downer in the semis. but texas had fabulous conference call. they're talking about, really, automation cars, internet of things, factory semi, and that is still strong. what's amazing even though people think we're peak auto, we're not peak in the number of chimps in a car. so this was a great phone call i felt terrific after it and said as negative as i am, remember there are companies doing things -- talk about innovation texas instruments is innovating and they're taking share and it was a glorious call glorious. >> a car is going to be largely made up of chimps? >> yes by the way, the number of chimps that go into aerospace you're not allowed to talk about. that's something to keep in mind, too. flow when i look at texas instruments, i said to myself, can there be a rally in the chimps based on texan? and what intel sing is going

. >>> but first, let's get a check on the markets, over to bob at the nyse >> hello, melissa.imple what's going on here this is all about rate hikes and inflation issues, and you can see this in the stock market, because this is the month for commodities. we've waited for a long time for energy stocks to move and finally they are so, look at the outperformers here energy and materials, this is the commodity play we keep talking about for the month of april and we're seeing money coming out of semiconductor stocks, notably out of consumer staples, retail also to a lesser extent let me show you some of the stocks this month. big moves in philip morris, in clorox, in kimberly clark, campbell's soup, kellogg's, 52-week lows all over the place in consumer staples. to a lesser extent, we're seeing retailers who held a little bit better also selling off late in the month as well so you're seeing companies like kohl's and dillard's and gap. the third group, semiconductors, i won't put them all up for you but the main semiconductor etf has been drooping here in the last couple days the

ringing the bell at the nyse at the nasdaq is texas governor greg abbott, up 45 points on the dow, kelly> i'm going back to the headline first welcome to the "closing bell," everybody, i'm kelly evans, crazy close on wall street, up 440 points at the highs, now up just 48 on the bell here we hung on to some gains, but barely russell up just a point. see how it settles out here. the s&p up just 8 to 2613 on the close, a third of a percent, and nasdaq still outperformer up half a percent to 6950 the dow closing around 23980, still below 24,000 there the russell at 1514. merck with a 5% gain, and general electric, worst performer down 2%. s&p, leucadia up there, and lowe's the worst performer welcome back, michael santoli. >> i don't think i missed anything >> and the chief strategist, mike, seriously, it was -- there were days it felt like disaster and days feeling all clear, and today is the perfect embodiment, all clear in the middle of the day to be completely erased and reporting there's an fbi raid in trump tower right now for trump's personal lawyer. as headlines crossed that we gave

. >>> stocks continuing to sell off this afternoon let's head straight to the nyse.ny, you were on with us earlier in the week. you said, be patient, be calm. are you still feeling calm dow down 700 into the close. >> i said that on wednesday when the market was rallying. i said patience is a virtue. we're on friday, into the weekend. we started out negative this morning. mnuchin's comments certainly didn't help the market at all. i'm not sure jay powell's comments had any effect because he said everything we've already heard, right the wage number was not out of line so, therefore, he just reiterated his comments. i think this is all a direct of trump's chatter overnight, mnuchin's comments, yes, there could be a trade war when for weeks they're saying, no, there could be a war and he comes out and says, yeah, there could be a trade war now we're going into the weekend and there's risk-off mentality there's not a lot of volume. when you get comments like this that are made, the algorithmic trading, the buy side drays up when the sellers come through, the stocks get

potential for world peace is not doing a whole lot for the stock market today seema mody is live at the nyse an update on trading >> not doing much for markets here today but given china's role in getting north korea to the table, art carbon telling me he expected next week's trade meeting in beijing to go well bringing down fears of a trade war. first quarter gdp coming in at 2.3% here in the u.s that is better than consensus. but the slowdown in personal consumption is rattling some investors. the dow up just about 15 points this as bond yields tick down. goldman sachs putting on a warning of a deceleration in european growth. earnings in europe haven't been as strong as what we are seeing here in the u.s. turning to asia. south korean etf, ewy seeing its best week in a monday, up 2% following that historic meeting between the two korean leaders we are about halfway through the earnings season and profits in the u.s. are up nearly 25% guys that's the best quarter since q 4 of 201 the standouts, amazon, microsoft, expedia up 10% on better than expected bookings. >> back to you. >> thank you

coombs in the nasdaq watching some of the tech wreck again up there bob pisani on the floor of the nyse >> the pain train is a phrase to describe what trade would cause the greatest difficulty. traders were primed once we broke the 200-day moving average. i don't think they were primed to see a modest rallygoing int the close we -- i want to emphasize the breadth of the decline. we have emphasized technology because of its heavy weighting and because much of the earnings momentum is in technology stocks if you look at the big dow movers, you look at nike, which is now down about 10% from its recent highs we saw. 3m, another company, $259 in january. you could see it's down almost 20% from its highs home depot is another stock. was $207 a few weeks ago that's at $172 goldman sachs was probably $275 a few weeks ago and it's down significantly. there's a 52-week low. exxonmobil never participated in any of the rally throughout this year etf movers, again, very broad swaths biotech down 4%. semiconductor, there's a tech group, obviously oil and gas exploration down 3%. arca, the airline ind

rick santelli at the cme and bob pisani at the nyse. >> the important thing is we dodged a real bullet it was hairy at 3:00 we had a billion on market close orders down 60, 70 points in the s&p 500 and we were headed lower take a look at the s&p, down 57 but it was a lot worse around 3:00 when we were down close to 70 that's close to 700 in the dow jones. we had turn-around, some sectors that were not normally market leaders. oil was the big story. we saw companies like octicidenl petroleum turn around. big oil names that were able to break the momentum and turn around dodging a bullet, your usual big industrial names that are the centerpieces for discussions about global trade were all weak today in the dow caterpillar, boeing, ge and 3m all to the downside. i think -- to give you an idea of the broad decline home depot, which has no significant presence in china, it was down significantly. jpmorgan gets 1% of its revenues from china and it was down significantly. goldman gets 3% or 4% and it was down significantly broad swaths of the market were moving to the downside i think the rea

kim you're on the floor of the nyse where spotify shares will soon start trading, what's the feelingw york stock exchange. it's called a direct listing which means it's not trying to raise any extra money, it'sjust trying to not trying to raise any extra money, it's just trying to sell shares allowing investors to cash out. they are frantically trying to figure out the price of the shares behind me because in choosing this direct listing they have cut out the bankers who tried to ensure there is a good price on the day the stock starts trading. anything above $138 seems pretty good. we are expecting it to take a bit of time before they settle on a price before the stocks start trading but the company could be valued upwards of $20 billion, that's around £14 billion. it's not bad for a company that focuses solely on streaming music. spotify has some big—name competitors. but it says that in focusing solely on this one task, it will be profitable in the future and not in this next year. they expect to lose 330 million euros. we are still waiting for it to turn a profit but it has nearl

that is right. tells them whether they have had any information taken from them. joins us live from nysel give you steps as to what you can do. steps as to what you can do. authorise, for instance when you want to log on to facebook. want to log on to facebook. if you know —— no longer want to share your information with them. share your information with them. what damage is this doing to facebook? facebook? potential increased regulations affecting their business model. affecting their business model. could lead to investor concern in the coming weeks and months ahead. the coming weeks and months ahead. thanks forjoining us. deutsche bank sacked their chief executive? john cryan amid continued problems. as well as three years of reported losses. as chief executive immediately. they hope he will be able to bring the bank around. he's held senior hr roles at hsbc and ubs. their best and delivering something which delivers success. which delivers success. that people start arguing about whether we should finish the plan. whether we should finish the plan. they have hit the buffers in deuts