it will examine prior m & a deals, and microsoft, and booing says itto after passing a negative order rate in 2019. joining us for the hour today, steve grass roa from stuart frankel. of course, it's so ironic, though, you come in, you have the t-mobile story, and another story that's overreaching on the make rho, where it's the same names that have driven the market higher for the last, i don't know, five or eight years or so? that could be suspect. i'm not sure, the market is still green, so let's see where we wind up the truth is if you're going to and then if you with lower the bar, i don't know if it's some that's a real deal breaker >> let's drill down into that story a bit more the biggest tech company es over the past decade, let's. >> they are talking specifically about small acquisitions that were not -- and that includes deals by apple, alphabet amazon facebook and microsoft. the ftc would not comment on exactly which ones it's interested in. our own rue view the data shows that ftc could look at firms like glassboor and including minority stakes and licensing agreements, guys back over to you. >> we appreciate it. could the government derail the tech rally that's a big question right now. joining us is cara swisher, who is with us today by phone. what do you make of this story on its face? it's a big deal. the question is can the ftc do anything they're much more understaffed and it's a huge amount of acquisitions just sir innova has bought instagram. and there's hundreds of otherwise. by any new integrated into the businesses it depends on what we look at. like whole foods or fitbit, the -- it makes a small acquisitions are sessions. and, you know, you suspect facebook with okay ulutz and instagram, i would be worried if i were amazon. at the bought twitch for a billion in 2014, and google as the small ones are just as interesting. >> doesn't it make you uncomfortable that and now we're talking about we're talking about acquisitions, and tomorrow we may be talking about something different? >> i don't know if it makes me uncomfortable. it's a question of why did this go on so long. >> you know, the very same day some other acquisitions have gone forward so it's an interesting time. the question is is big tech hinders innovation or just buying up companies to solidify their position are they really hurting innovati innovation it's not clear what the ftc wants to say here except that these companies, especially facebook, google and amazon really do run down the highway it's very hard to get around them i think they're undergunned at the ftc. you know, this he decided not to sue facebook for a consent agreement. they don't have the staff and facility to do that. >> grasso, does it make you rethink any of these names those seem to be the ones that could be started the most. so i think that's the first blush, the knee-jerk reaction, those seems to be the one if you're a conspiracy throwist, you're thinking amazon. >> how many headlines have we received that they're looking into they companies so star it's not amounted to much >> a lot of times, for a long time , it was the focus of the or i agree with apple, i think they have the least to worry about. they already have a competitor called samsung >> offer microsoft linked in >> the mere fact that the government is allegedly looking into all of this, stand up and take notice again. i think also when you have a president that uses the stock market of his barometer as to whether he's successful or not, i would guess -- this is just my own viewpoint, start to to cara's point, it loses a lot of bite down 2% for facebook and microsoft, and some other are not even down at all thank you for phones in today, cara. >> thank you. coming up we'll talk with dan rosensweig, he today's closer let's check in with michael santoli. will the base hold a lot of talk about divergences, the breadth of the market isn't what you mike want to see. living free? some of those ipos set free on the market really been revived this years americans feeling better than they were in recent years about their own finances, so first of all, clegg a look at the relationship against the equal weighted s&p it weighted every symptom the same and s&p pure value. obviously, you see this liftoff effect, right north are near the start of the year. as value balances, but really it was just sort of neck and neck, as we start to get more to a small look at the same three over two years, and you'll see that even though it hit liftoff recently, megagrowth has been -- it's to the average stock up 10% from that point, you see the make acap growth stocks up 40% you stretch this relationship pretty tight coming into today, and you're seeing some of that megacap stuff go down, maybe in the short term, we have reached a bit of a limit >> thank you, mike. still ahead we'll talk more about the ftc's crackdown with today's closer, current chegg ceo dan rosenswieg and there may be more to today's symptom drop we'll explain that next. and up next, a check on the data tracker today rising to 104.3 innian wear, but job openings fell to 6.43 million in december, lower level in two years we'll be right back. what a time to be alive. the world is customized to you. built for you. so why isn't it all about you, when it comes to your money? 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[ fast-paced drumming ] let ate check in on an individual market mover. shares of underarmour are absolutely plunging. the company came out this morning on earnings, warned that the coronavirus outbreak would slow sales, and also warned their recovery was taking longer than expected. the retailer says the outbreak specifically could have a 50 million to 60 million impact on first quarter sales, and given the uncertainty, full-year results could be impacted as well coronavirus, yes, but it is the home market of north america that is hurting. they're projecting a mid to high-single-digit decline. that's the bread and butter. a and, i think it's fair at this point in the stage of this company to wonder whether it had its 15 minutes and if a legitimate duranaround is really in the carts the warriors are the rage of the nba, steph curry is the most popular, their shoe business is tied to curry. and plank is not running the company anymore. i just wonder -- i wouldn't pin it all to the fact that their endorsements and their starts are not doing well. >> it was a time when the company was the killing it and the turnaround or the -- you don't want to call it a restructures so they can reinvest not really happened what we thought should have been on the horizon, it's not happening yet, but the point about north america being so week, i think that's the real issue for investors, and i think they're rapping up everything the two of you were just discussing, we'll take a look again in the near future, but no one's suddening there trying to be a hero. you have two choices, nike or underarmour. there are smart investors, like a stephanie link, now trying to be a hero, was in this stock, buying more on the pull back betting heavy there. and now i think people like that are sitting here today and questioning whether they you couldn't bet more negative about where we are right now you can catch a special report, 7:00 p.m. eastern right here on cnbc president trump tweeting in the middle of the testimony -- when jerome powell started the testimony today, the dow was up 125 points, heading higher as he spoke it drifted steadily downward, as usual here's a look at the key comments from the chair. >> we are closely monitoring the emergence of the coronavirus i think we know there will be some effects on china through some part of the first half of the year and china's close neighbors and major trading partners in europe as well as in asia we know there will be likely some effects on the united states i think it's just too early to say. the thing that we worry about a lot is cyberattacks. i think we have a great game plan for traditional, you know, issues like bad loans, things like that. it's more cyberattacks is really the frontier where you worry there's no reason why the expansion can't continue >> all right that's the fed chair let's bring in steven liesman. he didn't say anything to upset the bulls in the stock market. it just so happened you had the boeing headline cross of no new orders for the first time since like '62 the ftc, microsoft sold off, verizon was lower because of the spring/t-mobile deal that was all happening. >> i just did some reporting what did the fed chairman say? look at yields, the ten-year barely budged, two-year barely budged the outlook and the probabilities on the fed funds and the rate cut barely budged it was hard for me to see any way that the market reacted to what the fed chair said lowering the odds of a rate cut, and then the stocks reacting from that. it was very difficult to find. all the things you just listed, and obviously, you know, it came back during the day, the president forgot to tweet about that i'm sure he would have known on. if we get, the material reassessment of the outlook, then they'll change rates. >> yeah t. the bias still seems to be that the next move is going to be a cut. the market is betting on it by the midsummer. the fed chair didn't have to say a word today from the he certainly could have leaned again it. he didn't say anything, in fact there's people like oxford economics heard the speech and said this affirms our call for quarter-point cut in june. >> steve, thank you. my pleasure. 40 minutes before the bell, we're now at section lous. the dow is up 135 points the gains are slipping here. after the break, sprint and t-mobile surges after the company crossed a major hurdle one analyst sis verizon and at&t could face the most credible threat ever. fred moffett joins us next. uber stock is up double digits since earns last week today it is lyft's turn to report we'll po wt eecd. 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because then it has widespreading affect on apple, on the chip plays, or is a lot of this a lot of hype? because it seems to me this deal was ndong in large part because of 5g. do you agree with that >> it was. i've been on yurt network for a long time saying expectations for (5) were just way too high remember a year ago on squawk talking about whether a year from now we would have ubiquitous 5g mean to right now. the answer was, of course not. that was viewed to be contrarian at the time. people's expectations have been way too far -- or way too optimistic for how quickly and how dramatically 5g is going to evolve it will get here, but it's going to take a lot longer than people thing. i don't think that 2020 is a 5g cycle year for handsets. >> craig, i know we bring you on to talk about the stocks, but because of the all the complaints around this deal getting down and now that we're seeing 4 go to 3, what will it mean for consumers >> probably nothing bad. you know, the judge i think again was persuaded that the -- sprint was never going to be a disciplining force for the market it was just too weak, and so sprint the judge i think accepted the argument that sprint was all but irrelevant. so what this deal really does in the judge's mind, and he's probably not wrong, is that it makes t-mobile stronger, and t-mobile will be a more relevant disciplining force for verizon and at&t than either t-mobile or present could been on their own. they have under the consent decree commitments for aggressive pricing they've given a deal to dish network, so dish will sell service at what's expected to be aggressive prices, and again, if what you're measuring for consumers is, what's the quality of the networks they're going to choose from? there's no question this is a good deal for consumers in that it will mean a much stronger network from sprint/t-mobile than enwould have on their own. >> appreciate your insights as always craig moffett, thank you just about 30 minutes left to go as we sit near session lows here. here are three things driving the action jay powell telling lawmakers he's closely monitoring the corresponde coronavirus, and boeing saying it booked zero new airplane orders in january. time now to get a cnbc news update with sue her area hi, sue. hello, everybody top congressional democrats are responding to president trump's budget proposal. they are especially critical of proposed cuts to health care and student loan programs. >> we know the president just lies, lies about protecting health care, and his budget is proof if the state of the union is what he says, the budget is what he does, and the two are from different planets an overcrowded boat carrying rohingya refugees sank, killing at least 16 people a rug billionaire has dough neated the prideiest piece to the olympic museum in switzerland. he revealed himself as the mystery buyer of the original 1892 olympic manifesto which he bought that's more than eight times the estimated selling price. that's the news update scott, back downtown to you. sue, thank you. over to mike santoli for the market dashboard >> even with the market flattening out just a bit today, the big cap index are pretty up trend. the question is, whether the base hold? is the rally brought enough to really hold up this is the line that results from that, and you see how it's flattened out here in recent weeks as you've gotten higher in the index itself actually this relationship is much more dramatic in the nasdaq you would expect it might have compressed a bit more and come back down toward the recent lows, and it has not if you look at the other times when we were at a high, you were basically at a low that tends to be the way these two oscillate together what it says to me is there's a bit of a stubborn hedging instinct out there, and in and out all the mechanics are working in here to say yes, there's a confirmed high it doesn't say much about the longer term trend, but these are the things you're watching just to see if the underlying support for the market may be weakened. coming up. we have your last-chance trade and grasso is picking a name that's nearly 20% higher this year his call is straight ahead. up next alphabet started breaking out cloud revenue last week we will speak with google's cloud ceo after that day one of jay powell's testimony on capitol hill. treasury yields getting a slight boost today. "closing bell" will be right back myww's been an amazing journey. ...it's almost like a challenge everyday to see how well i can eat and still enjoy myself all day long. i wake up every morning to see how much weight i've lost and how much better i look. myww join for free and get three months free! before we talk about tax-s-audrey's expecting... new? -twins! ♪ we'd be closer to the twins. change in plans. at fidelity, a change in plans is always part of the plan. othroughout the country for the past twelve years, mr. michael bloomberg is here. vo: leadership in action. mayor bloomberg and president obama worked together in the fight for gun safety laws, to improve education, and to develop innovative ways to help teens gain the skills needed to find good jobs. obama: at a time when washington is divided in old ideological battles he shows us what can be achieved when we bring people together to seek pragmatic solutions. bloomberg: i'm mike bloomberg and i approve this message. alphabet broke out its cloud revenue for the first time last week giving investors a sense of how the cloud under measures up to competitors like amazon's aws and microsoft's azure. let's send it over to jon fortt, who is sitting down with the cloud ceo. that disclosure had a lot of people applauding. >> it sure did fresh off that disclosure and today you are at the goldman sachs technology and -- >> let's get right into some of those numbers. google cloud retches grew by more than $4 billion last year after growing last year than the year before. same time aws revenue grow ought a slower rate, so how do you catch a first mover that's moving that fast >> well, you know, we're focused on building differential products, expanding our sales force, expanding or distribution channels, very quickly, and we've been very pleased with the results, in addition to adding revenue, a backlog grew, we talked about that on the earnings call. we're seeing hue traction not to our direct sales for, but also to our partner network >> how do you seize it >> we're very confident that we're the largest growing cloud product. it was mentioned that our platform revenue grew significantly faster than the aggregate number, and we're very confident, because we're winning customers. >> amazon and microsoft disclose margins. why don't you? >> you know, that's a question for ruth and sindar. >> are you open to it? >> we're not saying we won't we're just getting towards that over a sequence of several months. you also at the goldman conference tacked about anthos, part of howard multicloud/hybrid strategy what numbers can you give for that >> we're seeing very good traction for customers, very strong growth in three