Won, i want the gold i watched a couple hours of it unbelievable, right . Im still trying to understand you try to get it in the center thing or not you want to new york the other guy out. Whats the hammer if you have the hammer. I dont know the terminology come on i know we won by knocking them out those guys are intense. This guy has been there for several olympics when the guys get what is he called . Who does the pushing . Yeah. They score. Hes like 9 or something. When the guy on the other side is holding the brush i think theyre getting rid of the friction in between to make sure it goes the right direction. I know, but the guy at the other end, he is not moving, theyre aiming it . Theres a lot more skill involved than we have given them credit for yeah. And what if theyre running down and a foot hits is that a technical they have to be careful it is slippery theres a deal breaking not a curling deal. General mills buying blue buffalo for 8 billion in cash or 40 a share. Blue buffalo specializes in natural pet foods. Surprised they dont know anything about it. God, i spend a lot of money for dog food you have to be careful cant be too rich. They try to tell you theres a lot of meat, a lot of times its grain. Is it worth 8 billion looking at it right now. Market cap 6. 6 before the move today. Amazing. Okay theres your deal. Its important to talk about, but it did kind of wreck my mojo on the curling discussion. Thats okay. With andrew maybe well get back to that. I heard about the figure skating. That was that was not great. Why for us for us. Youre still with the xenophobia the russians were fantastic there was a one point difference between the two did you see the speed skating where the two koreans knocked each other out no what time was that on . 9 15, 9 30. No wonder youre cranky thats too late. Too late the difference between the winner and loser, the first place and fourth place in that was 0. 4 seconds. This is my point. This is my point this is why there should be participation awards thats a blink of an eye. Thats what i mean. Suddenly youre chanting usa because 0. 4 seconds versus i want to celebrate our ath reit letes. Youre so America First thats really not en vogue stocks to watch today, hewlettpackard enterprise did we pass canada yet we were supposed to get maple syrup. What are y what are you giving him we have a lot i think they have molson and maple syrup, thats it im kidding. Best trading partner, best people on the planet reporting better than expected First Quarter results. The company benefitting from rising sales of storage and networking devices hpe will hike its dividend by 50 . Buy back more than 5 billion of its stock by the end of 2019. Hp inc. s First Quarter profit and revenue beat forecast it sold more pcs and printers. The company is raising its fullyear profit outlook rbs posting its first annual profit in a decade in 2017 however the bank posted a Fourth Quarter loss rbs is still awaiting a decision by the u. S. Justice department on a settlement of a probe into probe into a misselling of toxic mortgage securities. Is curling big in canada . I think so. I can hear the canadians almost like a fargo type quality. Theyre from minnesota . No, but i hear it in the announcers all right so its a big deal that we beat them. Who are we playing in the final . I dont know. But the canadians were the ones who always stood in our way. Exactly you dont doesnt matter, as long as its america winning pretty much lets check the markets we can look at futures you can see there are big gains this morning dow futures are already up by 140 points above fair value. S p futures up by 12 1 2 the nasdaq up by 36. It was a mixed day yesterday the dow was up by 160 points, the nasdaq was down by 8 points. Its the fourth session in a row that the nasdaq has been down. Whats the longest losing streak since november of 2016 we are still on track at this point to post some losses for stocks for the week. Well see. These are big gains as wehood towards the opening bell if you look at what happened or whats been happening in europe right now, looks like things are relatively flat. The cac and the ftse are both down by 0. 2 you can see that the dax is essentially flat in asia overnight, lets look at those results, the nikkei was up by 0. 3 . The hang seng was up by 1 stocks in shanghai were up by 0. 6 tenyear note has been something were watching its off the fouryear highs just off the fouryear highs we set back on wednesday. Tenyear is yielding 2. 899 . The twoyear is near nineyear highs. The worlds biggest asset manager is looking for answers from gunmakers after the Deadly School shooting. Blackrock is the top shareholder in ruger and American Outdoor. Its also the second largest shareholder in vista it holds those stakes through etfs and mutual funds and passive aggressive products. Youre right. Blackrock says it does not have the ability to sell shares of a company in an index even if it disagrees with management in a statement blackrock says we will be engaging with weapons manufacturers and distributors to understand their response to recent events. We are working with clients who want to exclude from their portfolios weapons manufacturers or other companies that dont align with values. Prior to the whole gun issue, we were talking about blackrocks move to do this. Thats when we came up with the passive aggressive moniker blackrock sort of revolutionized passive investing. Then this came along, putting it into practice. This is the first real example of that that weve seen since larry talked to us about that about a month ago. Right the ply play sweden tonight, 1 35 a. M they won a total of four games, the u. S. , in the last couple of this is the same team who was in the last couple of olympics they have just gotten better and better you know we have curling on cnbc yes, i do know that 5 00 you understand this i wonder if they were going to take curling away from us because it was such a huge deal. Cant put that on cnbc anymore. We need it. People are actually watching. No, thats horrible. Chinas government seized control of the Anbang Insurance Group and it prosecuting its chairman Nancy Hungerford has more detail details. Chinese regulators are stepping in and prosecuting anbangs chairman, wu xiaohui for Economic Crime anbangs spending spree totals over 13 billion and put the company in the spotlight raising questions about its ownership and financing structure. The chinese insurance regulator said the takeover was warranted to prevent insolvency and it would welcome private investment into the restructuring the markets took the decision in stride the shanghai finished in positive territory and traders say the steps will alleviate fears of an asset fire sale. Some insiders questioned whether the move is less to do with Systemic Risk aversion and more to do with punishing anbangs perceived bad behavior whatever the motivation beijing is sending a clear message about its resolve to tackle financial risk and rein in financial spending we will this is me. They said go. Okay. They didnt say go joe . I heard two different things. Its on me now. Go. Keep you updated as we learn more about why the Chinese Government stepped in. Lets go deeper into the marke markets. Joining us now to talk about stocks is steven desantis, managing director at jeffries, and david joy. David, i want to start with you, i want to look at broader picture before i dig down on this with steven we are down about 6 off of the highs that we had set earlier this year. Theres a lot of back and forth at this point. People who are arguering the two sides of what to do with stocks. Where do you come down i think stocks will eventually move higher were struggling now with little resistance at the 50day moving average. That will sort itself out once we get Stronger Economic data. Theres so much stimulus in the pipeline it will drive economic activity. And that will translate into a strong Earnings Growth in the first half of the year i think eventually stocks will move higher. Maybe as much as 10 from here thats because why . Because of earnings . Because of the new tax law because of what you see in the economy . Its all related to earnings. Its driven by all of this stimulus that were getting from the Tax Reform Act and from the budget deal. Earnings growth year over year in the 15 , 18 range perhaps. With a little pullback weve had recently, that make stocks cheaper. I think overall the index will move higher and get pushed up towards 3,000 or so. I see you nodding your head through all of this. Youre in agreement. I think we do have more room to run in the market i think that we have to acknowledge that the overall climate has changed. So well have more volatility in the market it wont be a straight line. So you mean the overall risk right appetite thats out there yeah. But again 9 wasnt the right number for volatility. 39 is not the right number we need to settle into a number. You do have good Earnings Growth you have valuations coming down. But you do have the risk of inflation. You guys keep talking about the rise in Interest Rates thats on everybodys mind what is the right multiple to put on stocks if we have a tenyear pushing 3. 5 by the end of the year. We had jim bullard on yesterday. He said that he thinks people are maybe getting a hehead of themselves if they expect four rate hikes in 2018 thats priced to perfection. That theyll take their time thats only one person on the fed but the other issue is the fact that we have inflation that is ticking up, whether you see it in raw materials, wages he also said the bond market has been doing their work for them we have seen yields push up. True. Weve gone from 2. 40 to 3 do we go from 3 to 3. 5 its how we move we jump from 2. 40 to 3 . If we go from 3 to 3. 5 but on a steady climb, the market would be accepting of that because you have much better growth because of the inflation. I i had think if you jump up fr to 3. 20, then the market gets shaky here in addition, the pullback was healthy given the amount of money that came into the overall market and in the month of january, just the pure speshg lags th speculation that you needed to have some of that come out lets focus on small and mid caps people have said those stocks will outperform the big caps you agree with that . At the start of the year i did not. In the pull back i got more optimistic we did have valuations come down the trend and the revisions have been good for the reporting season, with the better gdp growth you will get much better Earnings Growth. Small Cap Companies have been lagging large Cap Companies in terms of Earnings Growth that is looking to change as we move through 2018. Thats the thing we need to focus on whether or not the Smaller Companies that are focused on more u. S. Economic activity, if they could put up the numbers. Yes, that will outperform. David, we heard from blackrock this week, they are now overweight on u. S. Stocks, underweight on european stocks as a result. What do you think about a move like that . Were in the same position and we made that shift on a relative basis once the Tax Reform Act was passed. We had been overweighted in the eurozone and in japan. And we rebalanced that a bit in favor of the u. S we still like these other gee ognyo geographies, but we felt this gave the u. S. A little bit of a kicker were relatively late in the cycle, we like some cyclicals. Materials, financials are well positioned here. I think the technology has more to go. Though theres some pushback on that i think, you know, theyll benefit from the accelerating growth that were likely to get over the next few quarters david, thank you very much for joining us today steven, thanks for coming in now lets get an update from the Winter Olympics in pyeongchang, south korea Andrew Ross Sorkin is there. I need to see the medal totals, andrew well show you the metal totals in just a minute. Curling we will medal we cant not medal in that thats the good news lets go to the videotape and show you ice skating the two top spots going to the russians, 18yearold evgen Evgenia Medvedeva and alin Alina Zagitova both winning there. Zagitova got gold. Th brady tinnal, karen chen and this 15yearold girl was extraordinary. What she was doing the whole time was putting all of her jumps at the end so the first half of what you do on the ice was effectively she would skate around it was beautiful basically you get 10 premium by doing all the jumps once you get to the second half because arguably your legs are more tired. And if you put your hands up in the air theres a greater premium. Thats what she did thats how she won and beat her older partner. Extraordinary evening. Not for the americans but for her. Ending the games on a more successful note, mikaela shiffrin, the 22yearold leaving with two olympic medals. A gold in giant slalom and a silver in alpine she told us what she found was the most challenging about the olympics besides this olympics with the schedule changes, the most difficult thing is how much more media everything is more intense. Everything, every word you say, every tweet you make, its put under the microscope as well you cant blow off a tweet and expect it to be fine people are looking at that reading into it. So i just stepped away from my social media nor the entire time i was competing, basically for the last three weeks i have not gone on until yesterday after winning the silver, i finally went on my instagram, twitter and facebook and was catching up on things that ive been missing, posts started posting. People are like, what . We havent heard from her. I thought we saw some posts. Do you have people yeah. When i wanted to make a post or if i had a sponsor post that i was supposed to make, i chose the picture i wanted, i wrote my caption and sent it to my manager and said post this for me today or whatever after the giant slalom race i made a post. But the point was just so i wasnt seeing comments i wasnt reading anything. I just didnt deal with the social media part of it. For me thats adding a certain amount of stress fascinating to hear her talk about social media we also asked about her relationship with teammate lindsey vonn for sure everybody like, ski racing is an individual sport. Everybody is first and foremost a competitor i would say thats how she sees me as well she was one of my biggest idols growing up and she has been in some ways throughout my career, has been some form of a mentor. But i also always felt like when i came on to the scene i didnt want to get in her way i wanted to put myself in her shoes, heres this little girl trying to get in my way, distract me from my job. I didnt want to be that person who did that to her. I wouldnt want somebody to come up and do that to me if that makes sense. I was just always trying to watch her from afar. The biggest thing i noticed about her that set her apart from anyone else was how professional she was about doing her job. Making sure all the details were accounted for. Thats a huge, huge, huge piece of why shes had so much success in her career. We have lindsay vocey vonn ln the show well hear from her on competing in her last olympics and what she plans to do next and later, ivanka trump made her way to seoul, just arriving. We have a shot of her just arriving she will be meeting and having dinner tonight with the president of south korea then she will make her way here to pyeongchang to see some games tomorrow, and then the closing ceremonies on sunday you asked for them, lets show them to you. Lets show you the medal count where things stand now each day we try to do a bit of math to figure out where we are, but also how far we can go right now were in fourth place, 21 medals. Germany, 25. Canada, 27, norway, 35 its getting harder for us we might be able to get i to where t get up to where the germans are, but the math is not in our favor. How many events are left . Only a handful will get you there. Can we do really well in the closing ceremony or something . No. I was counting on im wearing the gear today, because were supporting the team try doing what i can i wont get maple syrup from noah blackstein. When you were going over there, did you think about there would be a lot of foreign names you have to pronounce . Thats your worst nightmare. You know i saw you gloss over those two russian names. Did you even thats when like youre a skier coming down seeing a mogul when you see those names coming yes yes. Did you practice . I tried to practice its like a dismrouchount i do what i can, joe. Gosh. What happened . Kach canada won eight medals yesterday . They were successful. By the way, hopefully well have video of it later. The u. S. Ice skaters botched this so badly. Its very, very sad. Well show you some tape, i think of some folks who are sad about that in a bit as well. All right lindsey vonn, you didnt ask her any knowing you, did you ask her any political stuff . Did you try to go there . No, were talking politics. You will hear from lindsey vonn on politics. You will see that in the 7 00 issue. We talk social media we talk business sponsors, what shell do next. We get into it youre the man. Will be fun youll see some of that. I dont know if we have the tape, we even got into conversations about gun control. It goes far. You hopefully didnt high five her about the trump comments, did you . You just asked, let her explain. I just asked the questions. Okay. Yeah i know straight down the middle. Down the center like all of us thats big thats good that you got her you wear that polo stuff well. Looking good, isnt he this is the team outfit. This is our last day here, we had to support im going to show you later the coat that everyone is going to wear we always talked about these electric coats like the one from the summer olympics, right . The Battery Powered from the summer olympics . No, when we were in davos, getting those Battery Powered vests. This coat everyone will wear on sunday is Battery Powered. Does it light up like the jackets from rio it does not is sweden good in curling do you know . Clearly i know, but do you remember the miracle on ice . That was not the last game that was not the gold me