we've all been pars iing yellin words and need a thesaurus. think all this fed support will continue to push up asset prices like equities? >> i think corporate earnings matter. you were asking a moment ago what could introduce volatility and i think it's what could introduce volatility to earnings estimates. as long as inventory is constrained and mma is constrained and no debt due any time soon a key element the fed did pushed out financial obligations making cost of capital so low and capital availability so high, i don't know how you finish out the cyc cycle with more debts due and wall street is littered with people who tried to get long in the last couple of years. >> are you surprised where long term interest rates are and in december people said long term interest rates are going higher. they're flat. what do you think? >> the sentiment among equity investors, which is not mine. flattening from a curved steepening ones six months ago, our strategist matt hornbeck has made that call and been right about that. at the end of the day, it's

there is information that it's data -- >> janet yellin was painfully even ha evened. she wanted to convey the message lower for longer. she's had an easy entry to the job in the since that the payrolls data haven't been so strong to worry people nor so weak to worry us. >> so your point is she's still untested to this point. haven't seen any significant hardships to get through. >> in our economic forecast we think last quarter was tracking at 1% annual rate and we'll be closer to 3.5%s in the second quarter. when we start getting those monthly numbers consistent with 3.5% expansion in the economy and the headlines start with the 2 or 3 on nonfirm payrolls that will be associated with testing of the fed. >> jillian, let's talk about earnings season. i've been pleasantly surprised, not everybody but a lot of the companies have been coming in with numbers that are better than expected. what do you think is happening here? >> well, it's very interesting indeed because as far as earnings are concerned you're basically looking at the same big question that you're looking a

the bernanke input and the yellin input. have you that beige book, the current economic indicator released and published by the federal reserve yesterday. loan growth is picking up, loan demand, consumer spending, consumer confidence, manufacturing and auto sales. yet, interest rates, yes, they are a little higher today, 2.72 i think on the 10-year, but shouldn't they be even higher than they are now? if we have this positive economic data? i don't understand. since we began the tapering in the beginning of the year in january we with drew the bond buying purchases yet yields have really done nothing but go lower. that doesn't make any sense. >> i think yields will stay lower though in that situation. the change has really been from the unemployment market to inflati inflation. unemployment, the economy is getting better but with yellin's remarks on inflation to get inflation relatively low, i can still see yields staying pretty low for a bit longer. but eventually those yields will go higher. >> she sheez no sees no signs o

janet yellin, are you listening? the plan is for everybody to get over their skis and risk nap's how they want to fix the system. so, yes, i think it's going to continue to be exactly like it's been the first quarter and part of the second for the next several quarters in my opinion, and i think the most important number next week isn't the jobs number on friday. it's the week wednesday look at first quarter gdp, make all the weather excuses you want. the high-side whisperer is 1.5%. >> which actually, rick, comes out on the same day that the federal reserve comes out with its statement, kathy, on the fixed-income mark. rick said here we are making new lows for treasury yields. the yen is rally, gold is ral rallying. the ukraine political risk situation or something more worrisome about the u.s. economy? >> i think you have a combination of things. first quarter was slower than expected. globally economic growth is slower than expected. we've got declining monetary indicators in europe and japan. even in china now. s

janet yellin speaks economic recovery. n.s.a.urveillance programs and effect leaks.edward snowden then president obama is in pennsylvania to announce a new training initiative. >> supreme court justices are the report thursday to discuss the first phaefplt and defined.om is we will have live coverage from startingnal press club on c-span.. eastern >> crip to go is an ancient art begins of ack to the human history. we don't go become that far but e have some interesting artifacts that help people understand how long people have een making and breaking codes and had a need. when we talk about the united stat states, it is important to note that the making and breaking of part of america even before we gained our independence. one of our most precious artifacts is referred to as the cyber device. truth in advertising it is very that we don't te have any definitive conclusive vidence that this particular device belonged to thomas jefferson but there are some about it.g facts one, this device was found in an ntique store very close to

turns out there's more to it than just yellin.t that time period, not all the exact same date. let's cycle through. pandora, linked in, amazon, trip advisor, one week period the 14th to the 21st started to drop off. on the other hand, during that same period a lot of bigger t t texts popped the other way bigger techs popped the other way. they all turned around right in that same one week period. you had crimea cessation on the 14th and yellin on the 19th and quad on the end of that week. >> i would say the eyes of march but that is almost ridiculous, right? >> that exact same period you have these groups of stocks heading in opposite directions. >> interesting, a couple months ago we had emerging markets blaming the feds and sell-off in emerging markets and sell-offs in riskier asset classes. now we're saying the u.s. tech sell-off is cause iining a sell in emerging markets ji the tail wagging the dog. and a lot of people would call the cessation vote affecting stocks. >> most important in a lot of cases it's the guidance not jus

we're going to hear from janet yellin, get another picture if she's going to emphasize that she's goingdo everything possible to help the economy or just emphasize hey, steady as she goes, we have a plan, we're going to be reducing our stimulus and just expect that for a time to come. i think those things, i hear a lot of people saying, you know, the ukraine thing is something to keep fixating on. we don't have something specific and acute to worry about yet. >> thank you both for being here. up çnext, we are on the money. might suffer from sicker shock this spring. home prices are rising fast and maybe out of reach for the average buyer. and later, what does a nearly 200-year-old family business know about innovation? reinvention is music to the ears of fans of martin guitars. take a look at how the stock market ended the week. >>> sales took a dip last month. home prices are flying high. what should homeowners know about the prices this spring? joining us now is our real estate correspondent, diana olick. thank you for being here this morning. >> well, thanks for having me. >> the ma

they are more hawkish than janet yellin. >> it is. we have a rotation of regional presidents in january. janet yellin has been missing uber-dove.d as the the views reflecting of the entire fm oc? >> indeed. maybe even more than member nikki used to. months after the end of qe tapering. the minutes will be fascinating and we will see further light shed on the prognosis. >> what will this tell us about the optimal control theory? >> given the comments at the , the theoryence that you would leave rates lower temporarily for the cost of unemployment. if you like the theories before , it is the same as the press conference. >> talk to me how dovish or hawkish groups of people are. will there be big changes? we going to have new voices coming on board? newborn as is tend to be more hawkish. tend to be more hawkish. they are more likely to adopt a hawkish stance in their tenure. lady did notd the arrive until july and august. dissent ink for august or september. >> dissent? >> we have not had a lot of that. there will be a shock to the marke

janet yellin in a recent speech said that, at best, job wage growth has grown by 2.25 percentage points. when you look at what low-wage workers spend their money on, food and energy, that's not keeping up with t bulk of their budget. energy prices have gone up over 100% since the great recession. we are looking at food prices that have gone up on average over 47%. so a 2.25 yearly annual increase in wages simply won't cut it for a lot of americans. >> most people look at the stock market and the incredible success it's had in the last few years. how come that's not translating into good paying jobs? >> that's a great question. it is a hard question to answer. right now companies are sitting on a lot of cash, so the cash is available to create new jobs. the question is, it is the incentive. are companies still fearing risk coming down the road? is it a lack of demand? this is a question that needs to be answered because we are not getting these good quality jobs that the market needs. it is also important to understand that the government isn't adding jobs. they're not playing their role

today we get out some data on consumer prices and housing and fed chair janet yellin speaks before the opening bell. in terms of yesterday's price action, the dow raising 126 points and the nasdaq closing up by 22. >>> social security administration halting a program under which people had their tax refunds seized. social security recipients complain they were forced to give back money that was sometimes paid to their parent when they were children. telling users their e-mails are being automatically scanned to create targeted ads. that's following legal action. it violates their privacy in wire tapping laws but they consented as part of the e-mail delivery process. >>> let's check in with christine right now and she has a look at our forecast. >> good morning to you. pretty mild to start the day and widespread 50s and temperatures this morning will stay put, at least for the next few hours, even after that sun comes up and limited sunshine. little disturbance through the bay area and, as a result, we have fog left over this morning and three hours of visibility up in santa rosa and fo

yellin gives a big speech on wednesday, a tense weekend in ukraine and the pro russian separatists. no letup for a bruised market. ukraine, troops at the border. the futures do rise. >> it is a money and murder investment, cia kraft will make what is its largest acquisition ever. >> citi reports stronger than expected numbers. the stock is rising, headcount may not be. get a new friend request. facebook looks into what's next, yeah, a digital currency. >> first up after a rough week on wall street, stocks are poised to open higher this morning. retail sales rose a better than expected in march. after the nasdaq closed below 4,000 for the first time, s&p and nasdaq each suffered their first weekly performance since june of 2012. jim, on friday, you had a playbook of sorts to get us through the week. namely around companies that are going to report, coke, ibp, google and others. >> we are trying to see whether the value of revolution continues. coca-cola i don't expect to be good. if that works, which would be similar to what general mills had last week and kellogg. looking at the sto

we had jenin yellin speaking today. line on the fed being supportive and accommodative of the economy. we are looking at treasuries on that front as well. you take a look at the treasury market -- a bit of a mixed market good we have buying on the longer end of the curve, selling on the shorter end. overall, not much movement there to speak of. with interest rates refusing to rise this year, even following ared thirsty investors looking to get creative in areas like stocks and junk bonds. the aim to give all of that in one shot in multiple asset classes. talk us through it. his johnson yesterday in insight and action was looking at the same kind of thing. looking fortill yields. it's been a couple of years and this has been a big thing. it just won't go away. the same pages as adam, that's a good sign. we look at the etf and talk about dividend paying stocks. all sort of separate. they go out and rapid altogether. one of those that illustrates all of this is the will to asset income etf. i picked this one first because

in a statement yellin said the crisis said financial companies grew so large that their failure coulda competitive threat to u.s. banks where foreign banks are concerned and regulators have said it won't hurt them competitively now, it will only help safeguard them in the next crisis. >> tharvlet's go to -- one trad. mike. >> it was interesting. this was the one name that saw foolish activity today. in the financials there was a little bit in gold man sacks. morgan stanley is going to report earnings on the 17th of april. i think they're looking for $59.5 a share. i think what's interesting having spent a little bit less than 90 cent to purchase over 15,000 of the calls, the stock doesn't have to be up 5% to be profitable. given it moves almost 4%. this is kind of an interesting bet. i think probably a smart one when we take a what the street is expecting and about where it was trading at its highs earlier this year. >> joining check out our websit. stay tuned. [ hypnotist ] you are feeling satisfied without standard leather. you are feeling exhilarated with front-wheel drive. you are

we're in an environment people don't know what janet yellin is going to do. in the backdrop, the one thing she said i think is not getting enough reporting they will have a much slower progress of interest rate hikes than in the past which means the yield curve won't in vert for quite some time. once we get through that thought process, loan demand, easier lending standards and capital market activity will benefit the banks. >> tony, thanks for coming on, great to see you again. >>> one more note in terms of the markets. goldman was out with a big note today saying some momentum stocks could get remomentum behind them talking netflix and gilead, cnbc, google. >> what ends up happening at a certain point people say this is not a momentum trade and make this about the individual companies again. when you look at stocks like gilead and netflix, they really have little to do with the fires and teslas, there's an earnings underpinnings and see bids in those stock you never thought you would see again. the problem is timing, almost impossible. could lose 10-15% on

>> i don't think it's a coincidence, as jon mentioned, it came after crimea and yellin and michael lewis and earnings expectations are pretty low. >> they will all play a great role. thanks so much. welcome to the halftime show. after today's carnage what happens to the stocks once the most loved in the market. time to sell off stock? has it created one big buying opportunity? some analysts think so. do traders agree. swede music, pandora on a walt upgrade and the analyst that pulled the trigger is here to defend that call. that stock is very active. pete, joe, josh and steph are right here on the desk. sheila is live at the nasdaq, the epicenter of the market's nervousness. we begin in focus selling haas we -- selling last week's sell-off. how big does the pullback get? >> i don't know how big it will get. >> do you think it will get worse? >> i think qe-2 is a down quarter and markets peak on fridays. friday morning the market was higher and i think the market is exhausted. the same similar condition apple experienced a number of years back. who is left to buy it. the market needs a co

investors were apparently optimistic after the fed chair janet yellin said there is still room for thel the modest games end of quarter window dressing. >>> u.s. soda sales are losing their fizz. consumption of carbonated soft drinks nearly doubled in decline from the year before as energy drinks and flavored waters gain new ground. >>> the cost of getting hitched had has hit a new high. just under $30,000 not counting a honeymoon. that's "america's money." make it a great day. >>> this morning two historians say the search for the holy grail is over. the pair says there is conclusive evidence from ancient egyptian scrolls confirming that this is the cup used by jesus christ during the last supper ending a 2,000-year-old mystery. they believe the jewel-enkruftd goblet has been inside a spanish basilica in leon, spain for the past 1,000 years. officials say the cup was stole frn jerusalem a from jerusalem and taken to egypt where it was disguised. is it the real think? "good morning america" will have more on this story coming up at 7:00. no, we won't check in with indiana jones. >> tod

en federal reserve chair janet yellin speaks. next firsthand stories of bombings and chemical attacks in syria. a pop singer who is leading protests in the ukraine and a conversation with hillary clinton. this was part of the fifth annual women in the world summit from lincoln center, in new york city. this two-hour portion of the event starts with remarks from organizer tina brown. [cheers and applause] >> so when i look around the theater tonight, i am so blown away by what i see because i think some of you are going to remember that five years ago women in the world began with just 300 people, like the greeks and now look how we have grown, just like the global women's movement has grown, too. half the people in the world are now claiming their share of respect and power and dignity and wealth, of education for themselves, their children, their world. and tonight we're going to have the honor of hearing from two women, two leaders who contributed so much to the struggles to make that happen, managing director of the i.m.s. chr

also, fed chief janet yellin reassured investors saying that interest rates will stay low, that meanso be cheap. l plus economic growth in china slowing down but not as fast as expected. you get a lot of green arrows on the screen today. seeing triple digits to the upside. this is today. look at how the market's been lately, lately it's been volatile. we've been getting, i don't know, whiplash lately. trip triple digit swings yesterday, stocks down for the month because we've been getting mixed signals from earnings season overall. today, up arrows, yes, seem to be the pattern. >> we'll take the green on the screen. investors will take the green on the screen. you had me with the tweet, 60 seconds to explain this, james bond type kill switch coming to i cell phone near you. >> think james bond kill switch, coming to a cell phone next july. so what this would do is allow you to be able to remotely disable your phone, wipe all of your personal data off 0. why do this? because if a crook steals your phone he's going to get your information potentially. this hopefully deters thieves from

i graduated from yellin 1984 and so i drove back to new haven to your him speak and i handed him a choice book with a letter, just telling him what i thought about him. i couldn't believe it, this guy wrote me a letter. and he says something about keeping in touch. i thought, oh, sure. in a year later they were looking for writers and editors for break point, which is his daily radio commentary. sort of a commentary of worldviews, cultural issues from a biblical worldview. ended up writing and working for break point and today i am one of the voices of breakpoint. when he passed away they asked me if i would take over. so i have been doing that for about a year and a half now. >> what is the short version of your conversion? >> well, the short version is that i was raised with some. greek orthodox christian. altar boy, believed in god, but didn't really know the details of why i believed. i didn't even really know if there was something that was intellectually sound. i was not convinced that it was. i thought, jew or greek you go to the greek church. you get good grades, go to a good scho

a procedure rights case in which yellin refused to testify before a house american activities committeebecause they have not followed their own procedure in ruling on his request to be allowed to testify in executive session. the supreme court ruled that they violated their own procedures, that he could not be punished in contempt, and that he had a procedure ride under their rules to a decision. and even though that decision was not likely to be in his favor, he nevertheless had standing. clinton is a procedural rights case. those people had no standing to sue, no cause of action under the statutes or the appropriations that were line item veto. they were indirect beneficiaries, and it was the violation of the procedural right. and northeast florida contractors, to pick up your point, judge randolph, northeast florida contractors. the supreme court held when moving the obstacle to white contractors being considered for the business that they been subject to minority, would not necessary give them any business. there might not be any more contracts even left, just as the dream act may n

yellin gives a big speech on wednesday, a

but i think janet yellin did unbelievably good thing in trying to get sam fisher to be vice chairmanis so respected in just about every country i have ever been to. i think he. that's a great example of not being able to hire somebody very smart and i respect people who are not afraid to hire people smart. >> sandy. i want to thank you so much for joining us today, for sticking around with us. we want ocongratulate you. we hope to see you again soon. >> thank you, absolutely. >> it was a lot of fun. coming up, more economic data that could shape the trading sessions, the first quarter advanced gdp released in a couple minutes. check out the futures ahead of those adp jobs numbers, "squawk box" returns right after this. . . >>> well, we just got the adp reports. up next, the first quarter gdp. we will have that in a few moments. right now, take a look at the dow futures down 16 points, nasdaq off five-and-a-half, s&p up less than one, "squawk box" will be right back. ll be right . there's a new way to buy a car. it's called truecar. and truecar users... save time and money. so when yo