we'll get the diagnosis from jim paulsen paulsen. as we head to break, check out this futures.urned positive up half a point. we'll be right back. >>> the rollest coaster ride that is wall street. five down days. should investors get used to the dips twists and turns? >>> chaos in yemen. the saudi offensive in its second day. more nations now involved. what's next for this new middle east flash point? bill richardson is our special guest. >>> and meat ball mania in the city. the co-owners of the meat ball shop tell us how this single concept restaurant is taking over the big apple. a hot and spicy second hour of "squawk box" begins right now. >>> live from the beating heart of business, new york city, this is "squawk box." >> welcome back to "squawk box," everyone. this is cnbc first in business worldwide. i'm becky quick along with joe kernen. andrew is off today. our guest host for the next two hours is jim paulsen. he's the chief investment manager. we're going to talk to jim in a moment. but in the meantime the pilot investigated in the crash spent over a year in psychiatri

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dave paulsen is the new man at mason. season one week from tonight. against the cardinals, ryan zimmerman played well tonight. he got the r.b.i., but the cardinals scored six straight, beating the nats 6-2. zim played well and felt tremendous. marlow furniture is making a bet with you. if you buy furniture between now and monday, april 6, if the nationals and orioles face-off in the world series, all the furniture is free. keep in mind marlow is taking a bet on yboth teams are expected to do well. the caps post the hurricanes tomorrow night as they try to continue their momentum to the playoffs. the wizards try to lock up a playoff spot this week. leon bought a couch today. leon: i know a couple of homers that would do it. a rare find at a goodwill store, just ahead. leon: one dead, two injured as the police shoot two cross-dressing men who tried to ram through the nsa barricades. a new law regarding religious freedom causing controversy in indiana. and steve's forecast for the weekend more at wjla.com. a rare find on the

find out where paulsen and ackman put their money. but first it's officially the end of the first quarter. we went out with a bang. the dow finishing the quarter in negative territory. dropped 200 points. nasdaq up for 2015 and the quarter. tomorrow is the first day of trading if they are second quarter and the kickoff to april. historically a strong month for investors. do you stick on what is winning or take some money off the table? tonight we lay out our second quarter playbook trades. tim, we'll kick it off with you. what changes in q2? >> i'm not sure anything changes. the first was fed, dollar, oil, ecb. all of those things are front and center. some of the trades took time to get going. a lot expected the consumer to rebound faster based upon lower commodity prices, lower gas prices, et cetera. i think you stay with the consumer. i think you have to stay with staples. tough go with the things that will still be resilient to a strong dollar. let's go back to europe which has been working. we're going to get european earnings se

we went from -- and paulsen, i'm with you.e've come completely the other way with people like you saying it's never coming back again. we moved the whole gamut. i'm hearing from other people with companies and all of the companies now are finally talking about wages going up at some point in their forecast. they're making new assumptions that they weren't making last year or the year before and they point to walmart. walmart didn't do anything unless it's time you know they've dragged, kicking and screaming into this. i think you're going to be right. >> i just look at there's so much attention here on the plight of labor, how we've got to get wages up raising minimum wages, but the real is if i like at wages times hours worked deflated by the consumer price index is growing remark pli strong. the growth of labor is growing as fast in this recovery in this entire recovery as it has in any recovery almost in the last 40 years it's growing as fast today as it did in the late 1970s when we ladhad 7% wage gains. like we suffered f

paulsen spent the last seven seasons with bucknell leading the buy sons to the ncaa tournament twicethat time. he's a three-time patriot league coach of the year including this past season in which bucknell made it to the nit. he's also a national champion winning the division iii title back in 2003 as head coach at williams college. >>> over on the women's side maryland puts their 27-game winning streak on the line as they face tennessee in the elite eight tonight. the terps looking to make it back-to-back trips to the final four. they want to make it to tampa, florida, but the terps need a big performance from point guard lexi brown, maryland's second leading scorer, just one point against duke on saturday. maryland battled tennessee in the sweet 16 a year ago. brenda frese expecting an extra fired-up vols squad tonight. >> i think they'll have great motivation. talk about we were the team to end their season last year so you don't forget that as a competitor and as a winner. >> they're going to have probably some revenge mind-set because of last year. once we step between the line

paulsen: as our economy continues to be driven by advancements in new technologies, it's important that our young people and youth have the opportunity to learn and explore in the science, math, technology and engineering fields. robotics clubs and competitions bring out the best in student's imagination ingenuity and skill. they inspire students to pursue educational opportunities to help them compete for the jobs of tomorrow. i want to thank the teachers, the staff and the mentors that made stem a priority at oak grove and congratulations to all the students on a job well done. i yield back. the speaker pro tempore: for what purpose does the gentleman from new york seek recognition? without objection, the gentleman from new york is recognized for one minute. >> thank you, mr. speaker. our vice president once said don't tell me what you value, show me your budget and i'll tell you what you value. mr. tonko: this body's routine budgeting practices have fallen away in the last four years, only to be replaced by big, these budgets go nowhere while the most vulnerable individuals and famil

economics at bank of america and merrill lynch and jim paulsen, chief investment strategist. going to ask, what does the federal reserve do about the fact not own is the dollar getting stronger by the day but a more fesh ferocious and speedy move. do they have to do anything verbally or policy wide to address it. >> they have to monitor the movements in overall financial conditions and the dollar's one of them the fact that the dollar's strengthen suggests that financial conditions have tightened faster what they were forecasting or assuming based awe of economic growth. now consider what this means for meeting their dual mandate, a stronger dollar is disinflationary. so it can make it harder for them to get up to their target of 2%. and in our view it's another factor for why probably the fed wants to wait a bit. they are clearly setting the stage to normalize policy but they have to react to the movements in the overall economy and the movements in financial conditions. by our assumptions, our view it won't be appropriate to start hiking interest rates until probably septem

paulsen: mr.er, today is the fifth anniversary of the president's new health dare law and it's apparent that the law has made it much more difficult for hardworking americans to have flex wblet their own health care choices -- flex wblet their own health care choices -- flexibility with their own health care choices. the new health care law prohibits someone from using their own money in their own health care saveings account or flexible spending account to purchase simple over-the-counter medications liked a vill or collar tin unless they fste doctor'prcptio this makes absolutely no sense. today i'm introducing the fami health care flexibility act tha will restore the ability for parents to take control of their own decisions when it comes to the care of their children in purchasinging over-the-counter medications without a doctor's prescription. mr. speaker, instead of a top-down, one-size-fits-all centralized health care system, we need solutions that provide patients with greater value, more c