courtney, back to you. >> thank you very much, rick santelli rick santelli for us in chicago. >>> theicorn is joining us next, and so it an ipo for this company >> and is a billion dollar weekend opening ahead for "avengers: endgame." "squawk alley" still ahead stick with us. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. like.. pnc easy lock, so you can easily lock your credit card when its maximum limit differs from its vertical limit. and clover flex, for when you need to take credit cards when no one carries cash. or requesting a call to help get a new credit card- one that hasn't followed the family goldfish. pnc - make today the day. >>> a new unicorn has entered the transport and logistics world. keep trucking is valued at over $1 billion it counts uber fragteight amongt competit competitors. it's business. great to see you and thanks a lot for joining us today congratulations on the fund-raising round if you could just start by describing what your product is, what the technology is, and really what key kind of problems within the trucking

santelli exchange, rick?reporter: good morning, john. before we get to the main topic at hand there's something fun going on in the markets. we all know that the story about the dollar index has to be framed rather delicately over the last 20 months or so, it really hasn't gone straight up. there was a period last year right at the end of the first quarter where it really reversed and went higher. for the most part the story about the dollar index is, whenever it dips, it always finds large global support. now look at this chart starting in early march. you see the high there on the 7th. that was just a shade below 97.70. we're only a quarter cent away from that level right now as you see on the chart and my guess is, there's lots of stops around that zone. for many investors either trying to go the other way or investors using buy stops as a trigger meaning should the market get up beyond a certain form of resistance they would like to buy it on those highs as it goes up. should we get there today and especi

see you then. >>> let's get over to rick santelli in the meantime and get the santelli exchange. rick. >> good morning, carl. earnings seasons is always important, obviously, for obvious reasons. there are more subtle reasons that i find it fascinating. especially when we hear from the big multi-nationals because we all know that hedgings expensively and one of the biggest areas where hedging is required, especially when interest rates aren't wild and they haven't been wild, they may be a bit extreme sometimes but they're not wild and that would be foreign exchange. now when it comes to foreign exchange, really the enemy of multi-nationals is indeed those that need the calibration of foreign exchange in their business, whether it's importing, exporting, production, of course, is the volatility ultimately that it isn't the level so much but the path that causes headaches and expensive hedging. let's think about the dollar index for a minute. look at a five year chart of the dollar index. it's had some volatility and we've had some improvement, but look at the right side it really

rick santelli, what your watching today >> you know, anybody looking at yields this morning?are definitely dissi lly d themselves that's what we'll discuss after the break. >> here's what's coming up on the "halftime report". we review our stock survey to find out where wall street says stocks are going we'll debabt with it schwab. fed under fire president's economic advice jobs nominee arguing for urgent rate cuts and is now the right time to buy lyft shares? they are sag now below the ipo price. we'll tell you what our desk is doing when we join you at noon we're about 20 away. >>> now let's get to the cme >> good morning, jon maybe lyft needs more lift buttressies are getting a lift as a matter of fact if you look across the curve they are rising shouldn't be shock we need to discuss why and what are the possibilities from here. first of all, we all know that it seems as though we have relinked the correlations and influences of rising rates and rising stocks and maybe a firming economy, firming in the context that there was definitely some give back between the transition

see you then and for now let's get over to rick santelli has the santelli exchange rick >> thanks, jones the really big charts we should pay more attention to them. what's really interesting at this point in time is we have so many markets at such important longer term technical levels of significance and just think about the ones that are obvious, you don't need a chart for the dow, the nasdaq, the s&p, all closing in on all-time highs. well, when that happens, all the other calibrations have something important to say let's go to one. our ten-year note, minus ten year bund yield i see 258, we have an eight basis points bund. here's the issue back in november of '18 we were the widest we ever were in about 20 years at 280. we've had a lot of congestion right around that 250 level, a lot of bottoms and we're hovering 250 now the point to this chart is, we all know our lower interest rates are definitely, partially affected by the low interest rates in japan and in europe and to some extent china and all of those pressures affect a relative value trade they make capital decisions by inv

let's get to rick santelli >> good morning.s you dig down a little bit, we see that there is not a happiness with this based on the chart. they should be moving higher, so what's the rub look at a three day chart of 10-year note we are not under 250 we have not closed under 250 since april 11th we are looking at two-week yield close on the wrong end of the market why is that? think about it from the standpoint of what makes the number looks good? we build a lot of widgets. do we build these and create inventories in a setting where there is going to be a demand or consumption through it that's all the questions begin there will be ongoing debate the rtreasuries are clear it is a friday and they're acting really soft all week and some of that was from the next chart. look at the bund yield, they did not fall before our yield fail or our data was out. they're just easy to push off, easy to push down a couple of stairs at this point finally, let's look at a month to date 10-year, we have not closed under 2.5 for a while the failur

and the santelli exchange. rickld like to welcome my first guest of the week, peter turve of academy securities. let's get right into it. with all that volatility at the end of last year, when we started talking in 2019, it was all about watching the ges, anheuser-busches, at&ts, big corporates, supposedly corporate debt was going to have to go on this big diet. how did it all turn out, peter >> they bet on the diet. budweiser did a huge bond yield that allowed them to refinance their debt and stretch out the maturity at&t did a similar deal and at&t is now tied their ceo compensation to balance sheet management i think people got the message they're very careful about their balance sheet going forward and that helped the stock market rally. >> now, you know, there is also this ongoing worry that over the next couple of years, corporations are going to have to issue a lot because of maturing debt. do you think do you think that process, considering what you've just described and observed, is this going to send rippl

back to 255, rick santelli >> disney is super exciting.ll the ride sharing interest rates today are super important. look at a one-week of twos, we taken out the recent last friday's extreme especially on the ten-year you see last friday we had a high of 245 and right now it is hovering at 255. the big one, technical area is 255.5. let's say it is 256. the entire curve makes their spike load yield you can see it when those maturity are tend, never look back. now that it is brushing up against as it did last friday. it is proven to be resistance. at the end of the day if it gets through, it is significant look at bund, last week they were in the positive territory and we are dragged back positive today. here is an interesting chart let's take a one month chart of the dollar index verses 10 years. it should be intuitive, boy they can certainly seem to have periods of divergence like today. where you have twos up on a day of five of the week. fives and tens up six on the day and the six on the week. here and down on the week, but a asterisk,

. >>> former cea ed lazear will sit down with our own rick santelli. wait wait... how did that get out here? that is definitely not for sale! is this a yard sale? if it's in the yard then it's... for sale. oh, here we go. geico. it's easy to switch and save on homeowners and renters insurance. all of you. how you live, what you love. that's what inspired us to create america's most advanced internet. internet that puts you in charge. that protects what's important. it handles everything, and reaches everywhere. this is beyond wifi, this is xfi. simple. easy. awesome. xfinity, the future of awesome. >>> welcome back. the president telling reporters this morning that the fed should lower rates and move to a strategy of quantitative easing. our steve liesman has more. >> president trump substantially raising the ante in his comments and criticism of fed. he thinks for the first time he quantitative easing. that's an emergency measure where the feds buys bonds to push down interest rates. >> i personally think the fed should drop rates. i think they really

. >>> the analysts taking apple down to a sell, but first rick santelli.you watching today? >> i'm watching all the yields along the curve. they're at very important places. we'll discuss that after the break. ♪ ♪ ♪ each day, brings new possibilities. that's why you need a partner dedicated to helping your company reach its goals. u.s. bank -- the power of possible. >>> here's what's coming up at the top of the hour. we are on record watch as the s&p closes in on history. investors are telling what to buy and avoid. you'll get your first look at it on "the halftime report." the reaction on our desk as well plus a big upgrade for a battleground chip name. our investment committee tackles that in our call of the day all coming at noon. and morgan, we're just about 15 away. see you in a little bit. >> sounds good. >>> let's get over to the cme for the santelli exchange. >> a lot of important things going on in the market so this is a two fer for this morning. we'll look at internal and external factors in the market. this is a charter yield notes and the impo

melissa lee, back to you >> rick santelli, thank you. >>> there's a new company looking to help housesh poor people on lock equity with no added debt or monthly payment. there is, though, one big catch. at nt. cchrit? aat, gh th'sex each day our planet awakens with signs of opportunity. but with opportunity comes risk. and to manage this risk, the world turns to cme group. we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances. when yowhat do you see?itical issues facing our world, we see breakthrough medicines getting to patients in record time. we see harnessing natural gas unleashing the promise of clean energy. we see engineers simulating the future to improve today. at emerson, when issues become inspiration, focusing core strengths to create a better world isn't just a result, it's a responsibility. emerson. consider it solved. >>> are you house rich but cash poor there's a new w

. >> jeff of goldman rick santelli tracking action at the cme. >> hi, melissa lee we had a two year note option. my greatest, noteworthy about the option, let's look at the charts 10:00 eastern, the way the yield dropped the price rally? that would affect buying, right? why did it happen? this is key. look at the year-to-date chart of twos. everything on technicals in many ways, benchmarked what occurred on january 3rd that low yield held up until not too long ago, 238. went below it. it started to fall away rather aggressively you can see what i'm talking about on the year-to-date chart there. let's move down the curve. if that's going to occur, the entire curve towards key technical levels, we may get lower rate on the 10 year, exact levels, round it up to 256 right where we've been hovering, both the short end and starts to creep down the long end, get below the technical level. look for yields to be totally uncooperative and the fact we're basically making the new all-time highs in the s&ps and the dollar index, somewhat of a rocket ship the last couple of days back to you. >> thank

rick santelli and the santelli exchange hey, rick. >> thank you, carl i hope that we get along betternything this morning let's start out with the board what we do agree with that should we stock trade, stop traffic, close the border between us and mexico? we don't know what all the answers are. but i wanted to give our audience an overview on how this is so much like the china negotiations >> yeah. a billion and a half dollars of trade flows through the border every day. our economy is ten times the size of mexico's economy that hurts mexico if we close the border >> and ten times the size. and even more concentrated with our relationship on trade. the point i'm trying to make here is that nobody likes upset status quo, hurt business, maybe temporarily hurt stock mexico pays a much bigger price. >> absolutely. china pays a bigger price with the trade negotiations they got much more to lose than we do. >> it is hard for us to talk about it you got to get in the shoes of the people on the other side of the table. as for the fed, our disagreement is what the market is pricing in and how

. - ( phone ringing ) - get details on this state program call or visit >>> rick santelli has got thetelli exchange. >> good morning. thank you. wow it sounds loud there. it was a wonderful interview that joe had vice president pence for quantitative easing or interest rates was once again highlight highlighted, larry kudlow many have been calling for 50 basis point cut. after they just complete sentences regarding 3% growth for a while with regard to the u.s. economy. what do we see today we saw today that jobless claims breached 200. it goes back to i believe october of 1969. we saw the fifth largest month over month change in ppi in ten years, up .6. granted ppi doesn't have the same impact as cpi but the point of it is, if you look at jobless claims, you think about job creation, yes, we've had a couple of months that were rather light, the surprise openings was all the way down for a 7 million handle which not that many years ago was unheard of when we were in the 5 million camp. the best way to explain this is, that markets in the economy can only be understood fully backwards,

. >> rick santelli at the cme in chicago after bringing us those jobless claims earlier this morning.ood morning, rick. >> yeah, yeah. matter of fact, i'm glad you brought that up. to put a fine point on it, we haven't seen jobless claims since around thanksgiving 1969 probably all listening to beatles albums highly unchanged twos all the way out to 30-year bonds. that's not a bad thing three-day chart of tens. pop on tuesday sideways, really consolidated range, 2.50 to 2.52. tomorrow is a big jobs report i constantly talk about january levels, 2.58 from tens, when we get there will tell us how we behave, if rates hang down here or was that an anomaly and we'll pop back into a higher range it's important to pay attention to this is the year-to-date chart third spike was 123.54 yesterday. they closed at 52. on the wrong side of it today but pay close attention. finally, let's look at what's going on in bunds. this chart goes back to when they went negative on the 22nd they slipped negative again but are moving sideways. i will bet you that they respond pretty aggressively to which dire

bob, floor of the new york stock exchange, steve, director of institutional sales, and rick santelli in chicago. bob, let me begin with you if i might. it looks like the market had kind of a yawn coming out of the minutes. >> well, two or three ticks up on the s&p any hope that there might be any kind of rate cut in the year is going to get the markets going a little bit if you look at the fed fund futures, there's hope further out there might be a rate cut. and steve intimated there were a few who held out the possibility. the key here is the references to the global growth issues. that's what i wanted to hear about. uncertainty around trade, slower global growth in general the waning effects of fiscal stimul stimulus it's important i think the way the market's been reading this, a lot of people think the waning effects ant the way to look at it. the chinese are gearing up for fiscal stimulus, and tyler, that's one of the reasons the market that be holding up so well global central banks have their back >> santelli, your reaction some comments about the low level of the yield curve

rick santelli. >>> the u.s. and china are reportedly getting closer to a trade deal as talks resume between the two parties in washington today i'm joined by kayla tausche, right here in cnbc headquarters. welcome. >> thank you taking the act on the road today and want to see -- >> baby photos that whole thing. no stick with the news. >> social media audience gets enough of that as it is. >> the delegation arrived today. it appears the news flow suggests, they're there? >> they're there this is i think the ninth round of talks between the two parties. leo hood, vipt premier arrived earlier in the week. principles are meeting behind closed doors beginning today we believe until the end of the week in past, stayed and extra few days to signal talks are going so well. officials that i speak to say that the process to comb through the deal text is slow going but both sides are still committed to reaching this deal. nec director larry kudlow told a group of reporters the two countries are making headway >> i think th

. >> rick santelli at the cme group at chicago, as always, morning, rick. >> good morning sara intereste or two. look at the one week chart of tens, those rallies we had that took us into today to 261. open the chart up to the 19th of march. that's the last time we close there. the last time we traded was the 20th of march. you can see we melted a little bit. if you open it up to year to date we melted back to that what had been a low yield close and it continues to be around 256 foreign exchange, the dollar index is giving back if you break it down of component parts, there are certain areas that's really strong let's look at the dollar yen for example, this chart, early december last year we all know the euro verses the dollar has significant support of trading at 1.12 on thursday, it really jumped the broom and fell on most of those greens even though it melted a little bit. we are hovering around 97 and 31 and 32 should we take it out? carl, back to you. thank you, rick santelli for more movers, let's get to the nasdaq with bertha coombs. >> good morning. the loser this morning is t

morgan, back to you. >> rick santelli, thank you. >>> coming up, shares of snap are moving lower, muchwhen we return. they're currently down 5%. teth baknguawk alley" continui afr isre afr isre the dow is flat.to just anybody. here you go. what's this? it's your piano. hold this for a sec! we don't have a piano. no. but the neighbors do. just ok is not ok. especially when it comes to you network. at&t is america's best wireless network according to america's biggest test. now with 5g evolution. the first step to 5g. more for your thing. that's our thing. the latest inisn't just a store.ty it's a save more with a new kind of wireless network store. it's a look what your wifi can do now store. a get your questions answered by awesome experts store. it's a now there's one store that connects your life like never before store. the xfinity store is here. and it's simple, easy, awesome. >>> snap shares are down after reporting earnings last night. julia joins us and what it was that caused it to fall after the bell it have snap may have beaten expectation for user growth and for top and bott

joiningous the "closing bell" exchange is eugene prophet as well as that guy, cnbc's own rick santellirick, first i'm going to start with you the theme of this year was stocks hot, bonds hot, everything was hot, including oil. things have tapered off. what's the market waiting for in what's the next big catalyst >> i think the next big catalyst, of course, is twofold but both involve trade trying to get, of course, congress to take up and maybe pass some of the deals we already have with respect to mexico and canada. but, of course, maybe sewing up all the loose, frayed edges of what looks to be at least if you take secretary mnuchin at face value, a china deal that's getting closer and closer. and to be clear, you are absolutely right, but let's also point to the notion that the questionable deleveraging that occurred in october and november certainly ended abruptly in the first quarter. had a lot of horsepower considering that throughout that entire period there's probably some deterioration in the domestic and global economies. >> eugene, what do you think of stocks here after the d

let's get to the closing bell exchange aaron brown from pimco and our own rick santelli joining us to discuss the markets with about an hour left to trade. 56 minutes left to trade aaron, do the recent sort of all-time highs that we've seen make you think we're due a pullback and a sell-off now? >> i do think that going into what is seasonally a weak period w between may and september that gives us some pause that maybe things aren't going to be able to extend much further in here over the short term but i wouldn't be selling risk outright i would be looking for idiosyncratic opportunities, particularly stocks that have done really well, maybe lightening up on those positions but buying back some of the value sectors we tend to like. so we're looking for some of the sectors that have underperformed on the way up, looking to rotate into those sectors and also take money off the table for the sectors that have done well year to date. >> and one of knows sectors that you like, erin, is energy, is that right >> energy we think, at least the energy oil producers, have underperformed the ap

. >> rick santelli in chicago. good morning to you, rick. >> good morning, carl. >> it's really a big day and a big finish last week for treasuries they pretty much cleared some significant technical resistance if you look at it we're hovering at 255.75. if you consider a year to date chart of two year, far left, you see january 3rd. that low yield close for twos was 238, we cleared it for 10s it was 255.5 cleared it on friday but we have come back a couple of bases points we're sitting on that level with tens right now let's look at that day of 30s. they lead the way on this. you see on the left side 290 here we hover 7 basis points above that level so it started with the long end and moved forward. important to be cognizant of that especially today the two year and three year have been firmer where you see a bit of a flattening here it wasn't a curved function as much as it was the following chart. here's one week of tens against s&p 500 and we know that there was divergence equities were looking good yields weren

. >> thank you, let's get to rick santelli at the cme in chicago good morning to you, rick., treasuries in dead all global sovereign rates. we are seeing that they eased back just a little bit we are up a couple of bases points in the long run zg donin in the short end but, we are back you see on the one-week chart. today we are talking about how close stocks are to an important all time highs dollar index is at an all time high, it is certainly near a 22-month high. it really popped when it took out recent highs you see that left side 97.67. we flirted that interday and that high takes you back to the summer of 2017 you added up, it gives you 22 months we talk about 112 being significant for the euro verse of the dollar. it is. look at the chart starting in november, you can see how we are not far away from testing that level. we had other health. the dollar yen chart you see is lateral. the dollar continues to hover at the best level the same zip code is the best level since mid december if you look at the pound verses the dollar, definitely some moves going on there we ar

rick is an telly santelli is j us for the santelli exchange >> and trying to determine where the economy the momentum in the economy. the momentum in the markets. but basically the pole position of the u.s. economy for all you racing fans out there. and maybe tomorrow's first look at first quarter gdp is exactly the vehicle to get you there consider this. at the first quarter of the u.s. economy is always considered to be invalid to some extent. always underestimated. it gets a really bad reputation. as a matter of fact, some research almost exactly four years ago from april of 2015, i'll read just a portion of it a detailed review of 30 years of government gdp data, the most followed measure of u.s. growth, suggests a long-standing problem of underreporting q1 expansion you know who wrote that? steve liesman for cnbc and he did a lot of research and it was really a well done job. and he is right. so now let's take that in the context in which we should interpret tomorrow's data. first of all, atlanta gdp now on the 12th of march was 0.17 they round up. so it was 0.2% for the first quart

rick santelli. when we come back.pite backlash against scooters in big cities they continue to grow in popularity with consumers and investors 'lgeso dai othat when we're back in a minute. -al. ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. >>> we had a mid-morning selloff, didn't last long, though, s&p working its way back to the flatline. we're back in three minutes. >>> scooter company bird is launching a new monthly rental program. aditi is in san francisco with more hi, aditi. >> hi, contessa. riders in san francisco and barcelona will be able to rent bird scooters on a monthly basis. under the plan, customers would pay $25 a month and the scooters would be delivered to their homes. daily users now pay $1 to unlock the device and then between 10 cents and 33 cents per minute of use. the company does say it also decreased permanent rates in other cities the micromobility market is booming. the number of ri

rick santelli. rter: yes, come on down you know, you look at two-day charts today, everything comes out at you you need to know. two day chart of twos. the reason i do two days to isolate the scaling. you can see exactly how narrow the range is along the curve two day of tens. no different and if you look at a two day of boons overseas, scaling is different. six basis points versus 255 of them but basically, very similar pattern. what's going on? equities, not only domestically but globally are acting pretty well they're at key spots so are interest rates relative to the last four weeks in the year finally, let's look at the euro versus the dollar. it starts in september it held 112 again. dollar index back in '08 thank you. >>> tiger woods donning the green jacket once again to win the masters for the first time in nearly 15 years the ratings were huge and his sponsors are smiling today we'll speak with the ceo of bridgestone golf about what this win means for their bottom line. next ♪ cfa charterho

rick santelli has the santelli exchange good morning, rick >> good morning.st jim grant. thank you forjoining me. let's do some interest rate observing, mr. grant >> all right. >> you know, inflation is a big theme and now it seems as though everybody that has anything to do with inflation is saying it is slayed. is inflation dead in your opinion, jim grant, or is it just hibernating a bit >> the fed in a way, kind of a funny paradoxical way, has been chasing its tail the past ten years or so, been a time of great credit formation, borrowing and lending corporate debt as a way up and so if you look at the restaurant business, huge boom in restaurant construction that, construction. that's very, very easy credit conditions and what this leads to finally, today, is ten chicken nuggets at burger king for 1.49. that's an anti-inflationary problem for the fed but it was the very interest rates that the fed imposed that have to bring on the so-called problem. actually for consumers it's not a problem, but -- >> in many ways, jim, inflation isn't a problem for peopl

. >> get to the bond pit as well checking in with rick santelli who has a nice go around are steve liesmanhis morning with the jobs number. >> round two, it is friday listen when i look up at treasuries, here is what i see a bit of a failure actually. look at one-week chart of two-year note yield first of all. we traded up as high as 236 right after the numbers were back down to 234 we undha we are unchanged for 2's it is back down to 250 the reason is because 238 and 255 are key technical areas of the first low close is the year that lasted into a couple of weeks ago and getting back above those would be a big deal. we got right up there which is normal we called the kids back and we reversed a little bit. that may establish a new range we basically move 20 bases points like a staircase. if you look at bund and it is always a good reason never to use percentages on yields. last week it closed at minus 7 and right now it is plus 01. the important part here is bund yield patterns continue to mirror like all sovereigns do. we'll all link with the same move it is a matter of scaling at this p

let's get to the bond pits with rick santelli. >>> good morning, carl i would find it hard to believe close to all-sometime highs of stocks without having captured at the attention of the fixed-income market maybe if rates continue to trade into the 230es instead of close to 260, maybe the stock market radiologically wouldn't have progressed so far. they're definitely reconnecting. look at a three-day of two-year. same could be said for the other end of the curve in the form of tens let's open it up to a make rho chart. remember 2017, all those tops on the left side there? see, there's a lot of wood down here for a variety of reasons that don't touch pound some of the more recent technicals like the january 3rd lows once we closed below and above, moves happened in both directions the scales are different, the yields are different, but the patterns for the most part of the same more question marks up in the air, now let's look at the ten-year guilt it popped just like everybody else popped. as a matter of fact, let's keep that theme, one of the big themes is interest rates can't possi

. >> thank you very much rick santelli in chicago good morning. >> good morning. >> a week ago we had a low yield of around 246. we're hovering 259-260 it's been orderly and very steady and many technicians of course are pointing to the fact that it looks like a wave pattern going on look at a two-year chart these are areas that can hold. we have a lot of history here from 2017 as you see on the left side of the chart. when it comes to foreign exchange, we all like to pay attention to the dollar index and above 97 but the issue is with over 50% of the dollar index euro currency it's hard to imagine a big thrust through until we get under 112 and as you see on this chart going back to march, the euro versus the dollar it seems to always hold up to 112. it's the level to watch. finally a year to date, the dollar versus the yuan it's deteriorating in favor of the chinese currency the lowest level on a closing basis. >> we're celebrating a special anniversary today. the launch of cnbc on this day 30 years ago, he actually has a nice piece written on our website about the original mission.

rick santelli tracking the action at the cme. >> hi, what a wild day and if you look at a month to datef ten-year yields, we certainly have covered a lot of ground. you have to appreciate that it just cleared the zone we're about a quarter of a percent away once you take that out tyler, back to you. >> mr. santelli, thank you very much >>> there's a shiny new automobile on display. robert frank and a special guest are at the show to show you. robert >> tile her, we are this the one and only tracy morgan to tell you about the fastest new car. >> i call it eye candy this is my car tang a look. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from finding out what's selling best... to managing your fleet... to collaborating remotely with your teams. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. ♪♪ ♪♪ ♪♪ feel that? that's the beat of global markets, the rhythm of the world. but to us, it's the pace of tomorrow. with ingenuity, technologies, and markets expertise we create

. >> phil, thanks for that >>> joining us, jack caffery, christina hooper and rick santelli at the cmen chicago as always. christina, i'll start with you how do you rate earnings season so far and is that what got us to these record closes yesterday? >> earnings season has been better than expected but it is far from over. and so i would expect that when we finish, it will be better than expected because expectations have been diminished all in all, it will be somewhat mixed. and so we have to be prepared for some disappointments coming. >> jack, if i'm sitting at home and i've seen this tremendous rally up 17% for the year but have been too nervous about what happened at the end of last year -- >> right >> -- to get into the market, is now too late >> i don't think now is too late but as kristina pointed out, you've just mentioned, we've come a long way and come there quickly. we'll get a chance to basically see markets maybe moving more sideways in the shorter term but we do have gains still to come over the course of the year as investors think about 2020 earnings over the next two,

that's why i asked you rick santelli, thank you very much steve wieting, pleasure to talk to you as well you both soon. >>> market flash on delta. here is the animation. that means phil has it phil >> delta up 5% today this is what happens when you've got depressed expectations, which is what a lot of people have for the airline sector and then an airline come out and say we're raising guidance for the first quarter, to earn between 70 and 90 cents a share. now they say they're going to earn between 85 and 95 that's the reason you see shares, what, now more than 6%, we're in that pre -- that guidance season for the airlines don't be surprised if you hear from other ka erers heading into earnings season. >> yeah. positive news from the airlines for a change phil, thanks coming back with the closing countdown in just a moment duncan just protected his family with a $500,000 life insurance policy. how much do you think it cost him? $100 a month? $75? $50? actually, duncan got his $500,000 for under $28 a month. less than a dollar a day. his secret? selectquote. in just minutes, a selectquot

. >> let's get to the bond pitts check in with rick santelli at the cme group in chicago fixed income good morning, rick. >> good morning, david you know, there's actually a lot going on, just in small doses. you know, yesterday as you look at a month to date of two-year note yields yesterday we closed them at the lowest level since the 2nd of the month so a little over three weeks and the reason i point it out is because we are up a basis point not only in 2s, 5s, 7s, 10s, 30s, the whole curve part of that was a really solid though preliminary read on durables the market overlooked to some extent the big rise in claims, probably a little seasonality, holiday seasonality. look at a month to date of 10s lowest since the 11th, roughly two weeks. if you look at the dollar index, it's a completely strong picture no matter how you slice it that's a one week daily chart. once again, i'll say it. stairway to heaven if you look at this since may of 2017, we're at lofty levels and it jumps every day and it holds. it locks and holds where the counterpart, the euro versus the dollar obviously ha

. >>> now to the bond market rick santelli is tracking at the cme. : hi, melissa lee everybody seemed to have been scratching their head early. wow, 3.2 strong gdp but, you know, take a look at the pce core at 1.3. the smallest personal consumption expenditure, of course, since q1 of 2015 it played havoc with the markets. although it seems though equities are getting back on track, very squeamish response continues in treasuries. look at 2 year note down 5 on the day and 10 on the week, looking at three day of 10 year yields they're down 3 on the day, down a half a dozen on the week maybe the dollar index is also interesting because, you know, it acted sort of like the other markets and in the context of what you just looked at, the 10 year, the difference is the dollar went higher and gave some back but still up there, 10 years gave some back and they're extending a three day downside with the range and completely different dynamic and up two-thirds of a percent on the week on the dollar index, a week where we have the potential to close with the 98

to the bond market now rick santelli tracking the action from the cme, rick?> yes mid part of the curve. fives and tens outperforming up three basis points three important basis points clearly moving up, ever since we broke through the 255 zone if you open it up to march first, what really jumps out at you, we're hovering at the best levels basically in a month. looks to be testing at 260 close here shortly dollar index since march 1st the thing that should jump out at everyone is how we're just hugging the 97 even area and today, pboc in some liquidity injection. everybody talking about shanghai composite up over 2% and indeed, it was let's take it going back to '06 and yes, right now it's trading, what, in the vicinity of 32.50 at one point, it was 6,000 and then at 22,000 one point, right around $39,000. the point of this is nobody is looking as good as the u.s. stock market tyler, back to you >> thank you very much mr. santelli >>> we count down to netflix earnings after the bell. streaming giants moment of truth. the competition getting fiercer. disney, a

the best week since 2016 let's drill down more on the action in the stock market with rick santelli. once again, that tenure is the most clicked ticker on cnbc. >> hey, we have a lot of smart viewers, what can i say. if you look at two days, couple things should jump out at you. a lot of volatility and jump up to what i have been pointing out is good resistance right around 255. here we sit at 250 and haven't moved much that's down two on the day, but up ten on the week as you see on that two-week char chart. it has been escalating two day on the dollar index is very important how important is that? look at it from the other side of the street. here's a chart of the euro versus the dollar. hovering just barely above 1.12. we haven't closed below 1.12 since the summer of '17. 97.67. the president might think it will fly like a rocketship, but some debate on that, kelly going to a crisis era tool at this time with the markets and the economy and jobs where it is, might have exactly the opposite effect. back to you. >> we'll talk more about that, rick thanks so much one thing is certain

for the discussion we appreciate it our own julia boorstin and andrew >>> to the bond market now rick santelling by with all the action at the cme >> hi, kelly you know, a lot of action and most of it actually is steepening you will be able to see it look at the one-week chart see the two year it moved higher and it's kind of just going sideways. unchanged, i might add look at one week up right at these levels just around $2.60 if you open the chart up to november 1st you can see what i'm talking about. tens minus twos. the ceiling is right around 20 hovering right there granted it isn't a huge steepner but it doesn't matter. takes all the pressure that we're worried about more flatteners and three months is not inverted any more either a month to date, that's hovering around 2.56. we have been talking about that. a lot of room to talk about a widening and gain on booms which are quagmire in monetary issues. >>> elizabeth warren has a plan to solve the student debt crisis we'll tell you who is going to pay for it, though >>> plus, elizabeth holmes due in court today we'll talk to the man who b

dan morgan >> thank you >>> rick santelli is tracking the action at the cme.ive-year auction this afternoon. >> we did. i graded it above average. a b. in and of itself it's shocking when you look at how prices have pushed yields down to a level that still found so much interest, especially with maturities 5 and 7 years an odd part of the yield curve. 6 .5 best since august of last year overall 23.3% to primary dealers is smaller than the average. it was a good auction. wrap it up with 7-year the big news in the market continues to be not only that the demand showed up but that yields are like inanother worl by themselves. maybe it's the demand side no matter how you slice it, we most likely will continue to move down as you look at this chart, it goes back a week and a half most likely two 40s is what we retest the next chart is the dollar index. this looks like the stairway to heaven it's blasting through. we jumped into a 98 handle briefly and consider the last chart. this goes back to the last time we closed 98 or higher which was the 16th of may 2017 kell

definitely wouldn't want >> thank you so much for joining us, mike allen >>> to the bond market now rick santelli is tracking the action at the cme. >> big day at the treasuries up six basis points. 5s, 10s, and 30s a bit of curve steepening now. a chart of tens right now at these levels, 21st of march. a week ago friday as you see on the 8 day chart. a year-to-date shows you where we're headed the breakdown point was 255. low close of the year on the third of january, seems like we're getting there quick. we'll see how traders behave finally, talking about yield curves 10s to 2s up at 17 up five from a week ago at 12 and here you see three months to ten year, currently at 10 positive so in a couple of weeks, we've turned it around a bit much of this action, of course, seems to be off the strength of the equities within striking distance of all time highs and finally, the dollar index. remember, it was very counterintuitive showing major gains when treasuries on the soft side now that rates are if i wering u-- firming up. the 97 handle, a lofty area, 20.5 month highs based on the notion that 90,

let's get over to the cme and rick santelli. >> good morning.e from td securities, michael hanson i found it fascinating they had a big fixed income conference. i want to dig deeper into and not necessarily from the same vantage point as all those fixed income investors and attendees at the conference. one of the big issues, of course, is this notion of the business cycle getting long in the tooth. it's pretty hard to refute i'll refute it nonetheless there's a lot of issues that occurred right during and after the credit crisis that i think in many ways put the business expansion on hold or misinterpreted exactly when it started. i'll give the most obvious example. in technical analysis we have a thing called across the creek. what that means is should a market start to move down sharply, okay. the way the stock market did and then in march of '09 make this unbelievable recovery, well you can blame all that or at least point to it and say well that was all these wonderful programs we did you know, the recovery act and three quarters of a trilli

rick santelli, thanks to you as well. >>> news coming from the auto dealer show in new york.traight to phil lebeau who is with volkswagen's ceo, phil? >> thank you very much scott who runs volkswagen usa, thank you for taking a few minutes to talk with us. we're going to talk a little bit about what volkswagen is right now. you know a lot of investors right now, they are worried especially with the european automakers, the potential of a tariff on imported vooex, even though you build most of what you sell in the u.s., you build in north america, how much would it hurt volkswagen >> look, i think you said it first and foremost, boy this is an awful lot of speculation. you and i have been in the speculation game for years we think it's bad for business, american dealers, bad for american customers and raise pricing. i think we're hedged 96% of our products are made in this market. all this uneasiness and tension is not necessary. >> are you confident from talking to your colleagues in germany and europe that this will not happen? what's your outlook? >> i can't speculate again

. >>> rick santelli is tracking the action at the cme. >>. >> reporter: hi, melissa lee the march report. 2 year year note, they're down a basis point or two the three day of tens, also 250 down a couple of basis points but still in the upper range but the lower part of it as of late and that is significant. we're not giving up more ground. finally, a lot of eyes focused on the dollar index. a third of a cent away from 21 months but let's look at the reverse. here's a two week chart. you see two days ago, flirted under 112. we haven't closed below it next chart since the summer of 2017 the last time the dollar index was one-third a percent higher than it is now we want to watch these levels especially knowing tomorrow's number could give us early market volatility. kelly, back to you >> rick, thanks so much. >>> wynn's top shareholder testifying before regulators in boston right now we'll bring you the latest after the break and a live and exclusive interview with walmart ceo doug mcmillon. that's up ahead. "power lunch" back in two. i'm working to keep the fire going for another 150 yea

you might even remember this famous rant on cnbc by a guy named rick santelli.he rant that is credited by many people with starting the tea party movement. >> the government is promoting bad behavior. how about this, president and new administration? why don't you put up a website to have people vote on the internet as a referendum to see if we really want to subsidize the losers' mortgages. this is america. how many of you people want to pay for your neighbors' mortgage that has an extra bathroom, and can't pay their bills? raise their hand. how about we all -- [ booing ] president obama, are you listening? >> seth: to answer your question, no, he wasn't, because we used to have a president who didn't spend all day watching cable tv. [ laughter ] now -- [ cheers and applause ] now if you go on tv and say, "president trump, are you listening?" he would call in five minutes later. [ light laughter ] "heard you loud and clear." and yet despite the culture of criminality and corruption surrounding the president, republicans are already falling in line with his re-e

bob pisani, we had an auction for ten-year notes at the top of the hour let's bring in rick santelli with how that is going >> originally auctioned in february and this is the second reopening. the yield 2.466 which is where it was trading lower yield priced right let's go through the internals by the way, i gave it a b as in boy. definitely above average 68.4 on indirects, the best since november of '18 and 12 on direct so directs were pretty much straight average of priced well and indirect and dealers take 9.6% of the auction. you know, yields continue to slip a little bit here and mayb the important feature is just in a macro. intra day up to 2.55 and maybe we'll remain in this range, especially as we look forward to the second of the data points like cpi today and see how traders think about the fed. don't see cpi today changing anyone's mind regarding the pace of any fed moves moving forward. back to you. >> so true, rick, thanks back to you. under 2.5% on the ten year the kind of market we have been in, they are in favor with a lot of value investors berkshire hathaway owns bi

rick santelli is standing by in chicago and rick, the numbers these. >> all right we move from originallyhen we subtract 10. so 212,000 turns into 202,000. this is actually a very important number because the cycle low is 208,000, so this takes it out that was september of last year we continue to see numbers that we haven't seen since bell bottoms were popular continuing claims, 1.717 million and this is also fascinating because that's a nice drop from 1.75 and a half. so these numbers are definitely lower. now, whether or not that gives some confidence to the participants, of course, that are trading markets in front of the all-important employment report tomorrow, we'll have to wait and see i always smile when all the experts talk about how it's lagging indicator really not going to tell you that much, tomorrow big jobs number is hugely important especially after last week's 21,000 interest rates definitely having a bit more buoyance. we're hovering just above 2.5% i want to point everybody in the direction if you're technically observant right around 255, 256 is where most traders are

. >> guys, back to you >> bob, pisani, let's get to the bond pit with rick santelli. >> good morning, >> good morning carl, if you are looking for logic in the financial markets, you are not going to find it today before we get to the chart, interest rates, not only the u.s. globally we debate why, they rolled over at a time where our stock market is at least two out of three and at an all time highs and the dollar index, it is like a rocket ship, it orbits, let's look at the three day chart of 2-yr note yield. we took it out to the upside and we strengthen and settled below it and looking back. if you look at today at 10-yr on the left of the point i am referencing was 256, exactly where we closed yesterday. now we lost another four basis points it would be difficult for technicians to not think we are going to retest those levels if you look at the month today to bund, this is part of the issue. we can argue that our ten-yr, you are looking at everything wrong. this is not sustainable or we can look at bund which have gone negative again we know some of those confidence numbers are

rick santelli is at the cme in chicago with the numbers >> all right, our march read on headlines, cpiis data. strip out the all-important food and energy, it's up 0.1%, half of the 0.2% expected sequentially, following up 0.1%. by the way, headline sequentially followed it unrevised up 0.2%. year over year, here's a jump. expecting 1.8% 1.9% 1.9%, 0.4% higher than our last look and if we look at ex-food and energy year over year, it was up 2%, headline up 1.9%, as i pointed out. if we go for the core index, what i'd like to point out is, is that we are seeing a little bit more with regard to the energy movement, not so much when you strip it out. that's an important distinction we need to pay attention to, and real average earnings. year over year up 1.3% if you look at weekly earnings year over year, up 1.3% as well. both of those are definitely cooler than our last looks, which were up 1.9% and 1.6% respectively so, you could argue a little bit hot on some metrics here not too much reflected as joe pointed out rightly, we've been kind of hugging 2.5%. just a whisker below it, free-h

. >> thanks jim and carl >> let's get to the bond pit with rick santelli >> good morning. steepening but it is steepening with rates going down they're going down faster and shorten. 30s are basically minus 1. look at one week of tens, evidence of the last nervous environment of the dropping rates that finally stabilized. the investment grade, etf, it just skyrocketed the best levels basically since february of '18. let's look at our barclays, shall we in hovering in the 400 camp it i hovering in the 4000 c camp. finally, dollar index. here we sit not far from 97.40, the highest on a closing basis, 97.67 from early march of 2019 carl and jim, back to you. >>> when we come back, roger mcnamee with reaction to the movement in shares of lyft since the company's public debut on friday walgreens taking some out of the dow, but down only 48 points dow, duncan just protected s his family with a $500,000 life insurance policy. how much do you think it cost him? $100 a month? $75? $50? actually, duncan got his $500,000 for under $28 a month. less than a dollar a day. his secr? sele

. >>> nine minutes left of trade joining our exchange is chairman and ceo and rick santelli. banks leading the charge, is a time for a more meaningful lasting rally >> i think what is the most positive thing is they were better than expected and reassuring we'll be heading into a recession. we put that to risk now. then a fear there will be a recession. jpmorgan had good earnings the bank sector is likely to have reasonably good earnings. i think investors are more comfortable buying into the market and this is one of the sectors underperforming dramatically techie is up 3% year to date >> i wonder if that's the theme, rick, playing out in the bond market, moving away from the recession or some recession false alarms >> reporter: i would debate global slowing had something to do with it more how it affected rates outside the u.s. we could debate all day. most of the people i deal with never suspected we were going to get into recession mode. as a matter of fact they traded appropriately when the stocks were at bear market territory at the end of last year, that proved to be a