In line with the estimate of 35. 7 billion. The board is affirming all 2016 guidance. The incredible thing is north american operating margin 12. 9 . Global margin 9. 8 . Those are records for ford. They may be records in the Auto Industry in general. I am going to look through this. There is so much stock news. Jon it is very much risk off. Lets get you up to speed on what is happening in global markets. Futures in the u. S. , negative. Negative 16 on the s p. The nikkei to 25 deep in the red. The boj does nothing. Here is what happened to dollaryen. Hyeading much lower. Down as much as three percentage point. I can tell you where it is on my screen. Dollaryen at 108. 05. Lets cross over to matt miller. Matt we are getting more earnings out. A slew2 of companies. 181 of the s p 500 companies are coming out this week. Conoco phillips with an adjusted loss of 95 cents per share. I want to also point out viacom has come o ut. Viacom is looking like 76 cents for an adjusted eps. We were looking for 72 cents. Can i point out something with my e. A. Screen . Fords earnings, net income, was billion. That is more than double what they earned the last quarter. Ive adjusted all the s p 500 companies that reported so far by growth. The only company that has had better growth than that in profits without cutting the top line growth is facebook. Out of all the s p 500 companies, facebook and ford as far as profit growth. That is about as new economy an old economy is you can get. David mark fields, you are about to talk to him. Mark fields was to have a stink about ford as a tech company. Carol are they going to work with google or apple to produce a car . Matt he assumes apple is making a card. Siliconeen to fords Valley Office which is big and bustling. Let me continue on with company news because there is so much going on. Its almost like a monday. Abbott labs is going to buy st. 25 billion. It could be a 37 premium, i believe. You are seeing st. Jude move up. We also have, we have a ton of deals going on today. Lets kick it over. Sanofe is going to buy me tivation. The deal news continues to roll in. Let me get to mornings news. Facebook, we were talking about beating on every level. Wants to bring up a new class of stock to help the company, help him to be able to make moves he wants to, be more independent. Facebook stock up 10 . Gibig gains in facebook. I am going to dig through the company newsprint the market is going to be awesome today. Carol lots going on. We cannot forget about the bank of japan. They have decided to stay the course, keeping its Monetary Policy unchanged. Leading to an immediate search in the japanese yen. As Consumer Prices drop more than expected last month. Enda curran is joining us from hong kong. We did have the nikkei selloff. The yen also jumping. What is the main message we should take away from what the bank of japan did today . Certainlyrnor kuroda did not disappoint today. You mentioned the weak inflation numbers. Bank of japan meeting, the economic backdrop remains quite tepid. Growth is scraping along the bottom. Inflation is not going anywhere anytime soon. There is a sense that all the conditions are coming together for policymakers to act. That is why there was such a sense of anticipation but among half the people in our survey that the bank would act. Of course, they didnt. Goingor kuroda says hes to see how the negative rates he introduced in january washers through the economy. No censure of sense of urgency. See this asd we being a smart move, because there has been so many questions about negative Interest Rates and whether they will have any significant impact, particular in a country like japan . Should we see it as him being smart and patient to see how the current moves are having an impact . Enda for sure. Kuroda does have a track record of waiting to see how policy changes wash through the economy. Hes been consistent. He is defending negative rates and saying they are bringing down borrowing costs and will help growth. So. Hes not signaling panic. But at the same time, there is a feeling the bank of japan need to do something to try and inch closer towards its 2 inflation rate. There is also a feeling the government needs to come in and do more on the reform side of things. The kind of the sense that japan is in a dangerous rut. Kuroda has once again shocked america. So, maybe he is pulled off one surprise to many because some of the patience in the economist is beginning to wear a little t hin. Mohamed elerian suggesting this is very much about turning the pressure on abe. This is a message for abe . Economists are saying that today that perhaps he is handing off to baton to the government and putting the onus back on abe to do more on the spending front. Perhaps ahead of the g7. They have so much more to do on the structural side. Lets remember, kuroda said today that they could cut further if they need to. The bank of japan is still in the game. Carol proving that central bankers can surprise occasionally. Enda curran joining us from hong kong. Inaction from had the fed. A lot of people thought the bank of japan would act. And the fed wouldnt. Doher case, they did not much. Now we have Morgan Stanleys fixed Income Portfolio manager. My question is, are both those Central Banks putting her pencils on the desk and saying we have done what we can do. Lot think we are learning a and we have to put this into context in terms of the policy reaction functions. How are Central Banks reacting to the current economic environment right now . Didfact that the boj nothing and the fed did not do very much that is a big decision to do nothing. What were seeing is in terms of policy reaction fu nction, we are seeing the boj moving away from negative Interest Rates. I do think they are trying to hand it off for more fiscal policy. I look at this as a case of the dog that didnt bark. What we are learning at this everyis that the fed had opportunity to retract many of its statements it made in march. We like the way things are going. Were going to keep going in that direction. David i notice the vote of the boj was 72. The dissenter said they would go back for positive numbers. Are they saying they made a mistake . Jim i think they are saying they made a mistake. I do not know very many people outside of the academic and centralbank world that think that negative Interest Rate is a good idea. I think negative Interest Rates tell savers they need to save more and spend less. I think it is a big mistake. Central bankers are realizing that but they have to hand the baton off to somebody else. I think it is true that maybe it goes to abe. What about fiscal policy and fiscal stimulus . The u. S. Can learn a lot about that, too. Carol here they go, they swing the other way. Matt i wanted to show you how surprised the Investment Community was by this. It was a major shock, jon ferro. Carol hes going to fight with you. Matt this is Global Investors buying into the japanese stock market. We had the biggest inflows from foreign money in the year because they expected the bank of japan to move. The currency is even more interesting. This is one day percentage moves in the yen. Is theve years, today biggest move we have seen in over five years. In fact, it is actually six years. The run up to this on the way in was the hefty us we have seen in five years, too. So, it is just amazing how much the market expected, and how disappointed the market got. Jon im more surprised that the dollaryen moves three percentage points. That is a huge move. It is the magnitude of the move that i think we need to talk about. Matt look at the magnitude of the move on friday. Jon it is the market that is feeding itself, overstretched on the way down. Look, yen strengthens on a meeting, that means the boj. Then an overshoot and an undershoot again. About the reaction the market has got to reset. David can i go out on a limb and say i think the market is getting the initial reaction wrong . Jim the fact that Interest Rates are saying low in the u. S. And abe is not moving to negative Interest Rates. In february, the market sold off a lot to her the fact he steps back is a negative sign for this does not make any sense to me. Right now investors need to settle down and they have to say, look, Interest Rates are going to stay stable. Central banks are more supportive of asset support. Look at what is happening in the markets. Highyield, of 6 . High investment grade, up 5 . Local markets up 11 . External debt up 6. 5 . This is not a bad outcome. David jim has a lot more to say. Hell stay with us. Vonnie donald trump says the major theme of his presidency would be america first. The republican president ial front runner outlined what Foreign Policy would be like under a trump administration. My Foreign Policy will always put the interest of the American People and American Security above all. Has to be first. Has to be. That will be the foundation of every single decision that i will make. Also said he would reexamine whether International Alliances serve u. S. Interests. Another unusual twist in a president ial campaign that has a number of them. Ceocruz has named former hp Carly Fiorina to be his running mate. Keep in mind, cruz cannot become the partys nominee unless hes voted in at the convention. North korea may have failed in its attempt to fire a mid range Ballistic Missile today. The botched launch came a week before kim jonguns regime holds its first really parting Congress Ruling parting Congress Party congress and 36 years. There are doubts about his accuracy. Global news powered by a 2400 journals in 150 news bureaus around the world. Jon a nondecision from the boj. A move in the fx market. Ford showing a record profit and record margin. The ceo mark fields joins this program next. Q1 earningsreleased that charles tantalus estimates. The companys trading 3 higher. Joining us live from fords World Headquarters is mark fields, the ceo. Thanks very much. I have to say the profit announcement just blew us away here. More than doubled net profits. You beat the street by 20 cents, 40 . Margins, we were thinking the 9. 8 , might be an industry record for global margins. What is behind all of this . Mark we have had a great start to the year. And i think it keeps us on track for another outstanding year. What is behind this is obviously we grew our top line and our bottom line, based on a product line up and the efforts of our team around the world. We had tremendous performance across our portfolio of businesses. Not only a record profit in margin in north america but our best quarter since 2008 in europe, where we earned over 400 million. We are reaffirming our guidance to have a year that is as good better than our record year last year and continued strength and continued strength into 2017. That is the formula we are using. Matt how much of this is a truck . Yesterday i parked my rapter next to an excursion. Man, people are so happy. The gas prices are low. Get anwe cannot excursion right now. Maybe you will come back with that. How much of is the big suvs and tracks that are selling so well . Mark clearly is is important part of our top ability but when you look across our product lineup and across the globe, weve had a very, very good performance across our cars, utilities and our tracks. We are seeing this phenomenon literally around the world of people moving from passenger cars to small and medium and large sized utilities. We are uniquely positioned to continue our growth, given not only the product lineup and the brand image we have today, but also the products we have in our pipeline. We are going to continue to say focused on that product lineup and making sure that we perform across the range. Matt you wowed the new York Auto Show with the Lincoln Navigator concept. I hope that means we see a ford expedition, a new expedition coming as well. What about a bronco . Have you thought about bringing back that nameplate that people miss so much . That i havent gotten question in the last two days. As we have announced before, we are going to be introducing four new segments we are not currently in. Stay tuned for that. Matt how about going the other direction . Even with americans buying these big tracks, there is so much excitement about the tesla model 3. Wnr rival comingr out with a new bolt. Mark even are electrified vehicles when you look at plugin hybrid and full hybrid vehicles, we are the number two seller of electrified vehicles. And the number one seller of plugin hybrids. But we are also making sure we are planning for the future. We are investing another 4. 5 billion electrified vehicles between now and the end of the decade. So we get to the end of the the decade, 40 of our nameplates will be electrified. Matt well you have a 200 mile range electric vehicle . Mark our approach is to always have a product that is best in class or among the best in terms of competitiveness. Allegedthe case of five, for example, we have our focus in the marketplace right now which has a range of 100 miles. In that price point, is extremely competitive. What you can expect from us, are, Going Forward is we going to be a competitive across the range in terms of range, quality, cost as we spend this 4. 5 billion. Matt record quarter for ford. The one company in the u. S. That did not need a bailout to survive. And now they are doing quite well. Thank you very much. Carol bronco . Matt im hoping for a bronco. David get that bronco going, please . It is always fun to talk to a c eo on a day like today. Carol he talks about this brought a way of products. The f150 is really the big driver still. Matt it is a huge driver of profits and sales as well. It is the number one selling, the number one selling vehicle and america and has been for 37 years. David how long ago was it . They took a big gamble on redoing it. Years ago they started reach ruling, shutting down factories, to build this new aluminum body truck that saves 800 pounds. David a lot of people had doubts. Matt it was a big investment that paid off quite well in the end. Jonathan so many deals are coming up on this program, a big deal. Jude medical st. And a deal worth 25 billion. Details next. Matt another deal. Abbvie to acquire will pay 2 million in cash for stem centrix. It looks like we have got 50 billion worth of deals already today. Im going to give your roundup throughout the program. Carol thank you. We just had breaking news want to go back to. Abbott labs buying st. Jude medical. That deal valued at 25 million. A lot of deals going on in this space. What does it tell you about these particular deals and what they are paying . Yeah, you know, first of all these are two massive deals in the Health Care Space that are not related to each other, but you do have the continued activity in health care we have seen over the last two years of record transactions going on. Bvie trying on, ab to get away from their biggest drug, humira, that is almost 60 of the companys revenue. They have been making this big push into cancer therapy. Last year they did the deal with pharmacyclics. Thett and st. Jude, on other hand, different reason for the transaction. Medical devices have been sucking costs. Hospital groups and her customers are getting bigger. If youre someone that makes pacemakers, other cardiac devices like these two companies then you need to cut costs out of your companys. Do these mergers that are going to create scale and go to your customers and compete against the other folks with a lower cost. They are going to be a leader in their category. Number one or number two in most of the major places where they operate right now. They have sitting on cash. We were waiting to see what it was they were going to acquire. Carol thank you so much. David coming up next, facebook reported sales and profits while past what was estimated. It was something that mark theerberg said on Earnings Call that was the real news. Coming up on bloomberg. John david westin and carol. , 5100 down by 1. 4 . That is the leading loser. Lets get to the board for you. Is driven by the doj headline doing nothing. It indicated the 25 was closing down 3. 5 . You can see it across the board. The futures are down by 155 points. The currency pair that everybody is looking at is shining right red. The yen is 1081 had the biggest oneday drop in five years down by over 3 . The rally in the bond market has treasury yields down by two basis point. So, big moves in this market. Lets go to vonnie quinn. Bonnie thank you. The open seat on the u. S. Supreme court will remain vacant until after the election. The media blitz by the white house has failed to crack republican opposition. Presidency said the filled by the death of Antonin Scalia a. Be layingders will off hundreds of paid campaign workers. He is falling further behind hillary clinton. He is bound to redirect his remaining resources to california. Is willing to take in 10,000 refugees. So far, only a few more than 200 arise. Portugal has a coronation in europe. A bigger reason may be the slow economy. Portugals rate is almost three times that of germany. That may hurt the countrys appeal. Global news, 24 hours a day. I am vonnie quinn. Facebook reported earnings after the closing bell. Mark zuckerberg taking the opportunity with good news for a new class of stock. Here jobless explain that is david fitzpatrick. He is joining us now. We had the endorsement strategy jim carroll. We kick it off with you. To thatre reacting positive earnings report. 52 increase in revenue. This company cannot seem to do anything wrong. They gained 210 million users. Looks good at this point. It is astonishing. Especially compared to what other Tech Companies are doing now. That the stock change is something they have had in their back pocket. They were waiting for a really good quarter. It does have a complication that david was mentioning. A lot of tradition