It is the momentum stocks. We have seen this theme in the past several weeks where we see some selloff of these momentum stocks, ones that have really been running up for a long time. But it has been in fits and starts. There will be a selloff and then will recover a little bit. There is not really a specific individual catalyst for many of them. Take a look at facebook. This is emblematic. One of these big momentum stocks that has been performing well that has now been pulling back recently. Today, it is down 4. 5 . It is also happening with the biotech which has been big momentum stocks. If you look at the nasdaq take index, it has been up big. Then we have seen these big pullbacks. Right now, it is at its biggest oneday drop since 2011. A longer stretch since we have seen that kind of a drop. I want to mention one stock that is uptodate considerably grubhub. It is surging today. Did raise about 190 2 million in its ipo. Today, folks are buying that stock, bucking the overall market trend. Very high pe stocks getting hit hard, netflix, facebook, very expensive stocks. Momentum. Stocks really getting hurt momentum stocks really getting hurt. Unemployment staying steady at 2. 7 . Although the early trading responses were primus flight in this report, you have stocks in a tailspin right now. Than 2. 7 ,off more more than 100 points, the biggest selloff we have seen in the index since 2012. Google, theyon, are all all four percent or more. Is the jobs report really behind this unwind here or is this a bubble bursting . What do you blame right now for this selloff . Why all the sudden a real turn on the market specifically with some of the momentum players . Still somehere is belief that fed expectations around janets press conference are still wreaking havoc on the market. Although she did, quite aggressively with her last speech. Quite did calm it aggressively with the last speech. As we have seen this rotation for quite some time, it is something that happened the last fed meeting. We saw biotech start to really get hit. We saw nasdaq come off. We saw deterioration from highgrowth stocks back into value stocks. Ant was happening before sort of a continuation, hard to know if positions are being taken off and new positions being put on. It feels more like shorts are getting squeezed a little bit and it feels like longs that have been in the market for a long time are also getting tested very aggressively. The market is always trying to predict where we are going to be in the economy six months to nine months out. Is there a chance that some of these momentum players got ahead of themselves and todays jobs report was a wake up call everybody needed . I think what happened as a people came in to the report with five with hyatt dictations. Only 200,000. Is weak. Nsensus was a very it is disappointing that we did not get that big spring bounce that we had hoped for. This was not a bad report. His is not even a bad sign for the economy. The u. S. Economy is showing in the early data from march that we are laying out of this bad winter process. I think it has more to do with what is going on internally in the stock market than anything big in the economy. There has been so much concern that we might be looking bubblelike in the tech space. You look at the ipo market, for example. You look at the end and a market. Market. Ook at the m a it is one day. Lets take a step back. You have to get a little bit of perspective on this because we have had this sort of fits and starts market over the past several weeks. I definitely agree with ethan that immersing a disconnect between the data and what stocks are doing, ethan is not the only economist come out with reaction to the jobs report today. It wasnt that bad. You have some internal indicators that were not negative enough to warrant the kind of selloff that we are seeing. That said, if you look at some of the other market indicators, like the vix and where it has been, very low levels of concern about any kind of drop in the market. If you look at the options, the futures in the vix, you know, it doesnt indicate that this necessarily will be any kind of sustained pullback. At least not yet. A lot of people are concerned about wages. Recite drop in wage growth, something we hadnt seen in a while. We see wages consistently moving up. That seems to have shifted. Matters a fear that, no what the fed does, it can seem to get any inflation in this economy. Might that be also one of the reasons why we are seeing people a little scared . Of the disappointments here, like you said, we had a big top in wages last month. I think it was a bit of fluke with the data but now we have a payback this month with the wages. Market generating decent wages, i dont think the next year will be that great either. Hasrtunately, joe sixpack got to wait another year or two before we get healthy wage growth. Ultimately, that is what the fed wants to see before it exits zero Interest Rate policy. Orthe oneday event here might we see the sellout continue into next week . I think julie is right. This is on set and said one day, not something that we should really get ourselves in a lather about. Although, it is an interesting market reaction. If you told everybody upfront we were going to get 6. 7 unemployment, one hundred 97,000 jobs and a little bit of 200,000, but net under ads, maybe the bond market reacts ok to that. Maybe there is a little relief in the belly. The stock market would have done just fine. We are seeing Something Else going here. Like i said come i think this rotation story that has been in weeks, i the last two dont think that rotation is really some fundamental driver of the economy. We have a lot of stocks that were overextended and rebalancing. We are fluttering around near record highs. Cathing today we were at a near record high, in fact. Tax day is coming up april 15. Did any of this be related to tax selling . I was about to say, as david was talking, you would more expect to see Something Like this at the end of the month rather than the beginning of the month. At the end of the quarter, we just had a end of the quarter so you wouldve expected that kind of action than. But tack but tech selling is not technical where you would see selling like this. Theow worried are you about next three to six months for the u. S. Economy . Is there a part of you that says, ok, it is just whether . Or is there something more to this . I am pretty optimistic on growth going forward. It is not just that the weather probably dampened the data at the start of the year. You also look at the fundamental backdrop. We dont have any big fiscal sharks coming. Washington has calmed down and the shutdown game seems to be over. We have had a lot of healing in the Banking System and the has a market. The u. S. Economy is in much Better Health than it was just a year or two ago. I am very inclined to chalk up the low growth to the weather rather than think that theres something fundamentally wrong here. I think we have better growth in the year ahead and it will be positive for the equity markets. A1day event, maybe. We hope. Thank you so much. David is sticking with us and julie will be back throughout the show. Coming up, will she or wont she . Hints for her plans for any 16. 42016. Hence for her plans for 2016. Sorry tom friedman. The latest to strike at to get Hillary Clinton to just answer the question everybody wants to know the answer to. Is there anyary, other job you would be interested in . [laughter] [applause] comptroller of the state of illinois . You know what i mean. Not right now. Ok, but not right now might not mean not ever. Of hrc stateuthor secrets and the rebirth of Hillary Clinton. Going to is she not run for president of the United States . No, not right now. But i think she has been wanting to since 2008. She is having a lot of fun with that right now. Bill clinton has been having fun with it. But the truth is that she is for a forward apace president ial run. I asked bill clinton whether or not we would see another clinton in the white house. That is specifically how i phrased it. Might we see another clinton in the white house . Chelsea is still too young. [laughter] [applause] you know, i spent most of the last six months trying to reorganize our foundation and make sure we had a good space for hillary to come in and do her projects and she spends half her time on the foundation because she knows more about how they should be managed and organized than i ever will. This has been fun for me. I dont know what hillary is going to do. But whatever it is, i expect to support it. Ok, he expects to support her. He is a heck of a campaigner. 2016, is there anybody else at all, jonathan, in the democratic lineup that could really be a contender against her . Let me first say you started out this segment by saying sorry tom friedman. I am going to say sorry tom friedman, too. Your question to bill clinton was much better. As forou whether whether there is anybody else for 2016, very few people have the ability to raise money for my to be able to compete against her. Obviously, joe biden is looking at it. He has run in iowa a couple of times before. Kerley clinton did not do well there Hillary Clinton did not do well there. How would anybody jump into the race if she is in it . If you are joe biden and Hillary Clinton says she is going to run, do you really run against her for the democratic position . I wouldnt expect anybody to really best her up in a primary election. Certainly not joe biden who is a good friend of hers. I dont expect to see the kind animus we saw in 2011. You are taking a risk if you are a democrat try to run against her in that way. She is coming into 2016 in a much stronger place than in 2008. Democrats are proud of her for having served obama perfectly. But no one so far is stepping up to that. We will be watching for it. Eventually she says yes, we think. Cant wait for your next interview with bill. Coming up, feeling the economic pain from the annexation of crimea. Hero captain america is back with a new film and is expected to bring in 648 million. We will be talking with the directors when we return. Minute, we had the nasdaq on pace for its worst selloff since 2012. A lot of big names leading us down here. 2. 3 . , 98 points, lost a lot of concern about the jobs report today. Questions over the weather that is influencing the selloff. The selloff has accelerated as we have gone into the day. Turning to todays global outlook, the world continues to watch Vladimir Putin on any signs he may increase may encroach on more territory in the ukraine. Russias economic power is stumbling. You combine all of that and the russian stock market has dropped 4. 3 . Mr. Putin may be safe. Michael, russia has effectively been on a spending spree. They have the search yielded bits, projects in siberia, and now this territorial landgrab in ukraine. Can Vladimir Putin really keep up this pace in terms of going after territory like ukraine and crimea . I think you hit the nail on the head. If you want to curtail his expansion, the way to do it is through his economy. That is the sense of the vulnerability. Market share three and 60 billion in 2007, down to 77 billion in 2013. It is not going to get any better. It will continue sliding. Completely relying on oil and gas, it is dependent on the demand from ukraine and europe. But also the way that it actually sells oil and gas. It is all tied together. Gas prices are relatively cheap. Europe is trying to undermine the that through stock market trading and that is where the dilemma is going to come from. To beyou had listened premised or seven years ago, he would tell you that it would be a 1 trillion company listened to the Prime Minister seven years ago, he would tell you that it would be a 1 trillion company. Down 66 from when medvedev made that statement. They have been spending for the government. Spent 3 billion for sochi, tens of billions of dollars on the pipeline going around the ,kraine to go through europe they owned telecom companies, tv ,ompanies, newspapers, banks and now you see the most recent showing of them being a Political Tool in how they increase prices to the ukraine 44 . We have seen other countries try to do this. Venezuela is having a lot of our bums now and a lot of it is tied to the fact that they do not enough to keep people happy. Ensue if we continue to see volatility at the gas pump . Surely, crimea is gone. Putin look at s longterm economic outlook, it is not great. He has a limited supply of labor. He is not engaging in economic reform. The entrepreneurial aspects of the russian economy are very low. And that is a problem because you have to be able to grow. Without those reforms, you are in a tough spot. We are at a time. Thank you so much. It is captain america to the rescue. To make this movie and what record they hope to smash next. Captain america is back on the big screen. It is the first of, both sequels to hit the screen. Done pretty well overseas. We have the directors, joe and anthony russo, joining me now from l. A. So far so good. What is your goal with this movie . Where do you think it can go in terms of revenue at the box office . Tryltimately, our job is to to make the best movie we can and then keep our fingers crossed. Already doing pretty well. We had a nice opening last night. It really helped the opening internationally. Hopefully, it is a good week for everybody at marvel. You guys are getting ahead out getting out ahead of other bigbudget releases especially in the action genre. There is an advantage here. The movie field is crowded. To find a spot in the schedule where you have some elbow room, we basically had the whole month of april as far as a movie of this scale. We are very happy with how disney chose to release the movie. You have a background in having produced a lot of pilots. You directed community. You directed the 2009 pilot to happy endings. Directing go from these comedic pilots to the action film space . It is interesting with comedy. Comedy is all about rhythm and pacing. There is choreography to comedy. Bunch oft is just a characters standing around in a room talking, it is about the choreography and timing. Action is very similar. It is about rhythm and pacing and timing. You are using the same muscle that you use to choreograph comedy to choreograph action. Did it feel different . Same muscle but still different, using them in if it weighs at all . What is nice about television is that it develops your acumen. And a lot of this is about management. You have to manage a very large crew of people. Storyboard artists, previsualization artist, those are the people who help you with the action. That produce oriole muscle is what helps you keep a strong point of view. Anthony even though we have had a great run in television comedy, directing action has been on our agenda for a very long time. This movie has been a Long Time Coming and we had many years of preparation put into it. Fascinating because you guys are brothers. Did you grow up thinking you would be in this business together someday . Know, we grilled film geeks, sharing our love of movies together. We grew up in cleveland which seemed a million miles away from the movie business. I was just in ohio yesterday. It really is. You know. Somewhere in the 1990s, rodriguez made the movie el bookchi, then wrote a how to make a movie for a Million Dollars. Sequels, that seems to be the business to be in these days. What is it . Do americans like the predictability of knowing the characters and coming back for more . I think it is what makes any brand strong. It is an emotional attachment to the material. I think the cycle we are in at that audiences are gravitating towards these characters because they have an emotional attachment to them. They want to see how these characters develop and where they go. Things like Netflix Binge whereng are playing into they are allowing audiences something into like the marvel universe, a grand mosaic of stories with interconnecting characters. It is Binge Watching over 10 years. Tohas an interconnectedness it that makes them feel for the characters. Before i let you go, back to the brothers thing again, obviously, you know what it is like to be around each other. But how do you codirect the movie . That is a great western. 4 great question. For every directing team, there is a recipe in terms of how they work. It all has to do with your personality and how you turn into process. For us, we have a very loose process. We have a nonstop dialogue between ourselves. We dont have any formal divisions. We try to make it easy for our collaborators. If you get an answer from one of us, it comes from both of us. We have been doing it a long time now and it is second nature. Russo,ony and joe directors of captain america, the winter soldier. Hbo is taking on tech with its new series Silicon Valley. Also, we spoke exclusively with defense secretary chuck hagel. Find out what he has to say about confronting putin and whether he thinks the president mishandled the situation. Chuck hagelecretary says the pentagon could send u. S. Troops back to europe in response to the russian takeover of crimea. Peter is joining me now from los angeles with more. A lot of people say they feel there is this cold war coming back. What is he say imris fonts to that . What does he say in response to that . To europegoing back after being pulled out of europe in the last couple of years is symbolic of where things stand now in the u. S. Russian relationship. I spoke to hagel late yesterday in honolulu. He is on his way to japan now. He says the u. S. Wants to deescalate the ukraine crisis, reach some sort of diplomatic solution. Nato needs to consider its options. We do not have any verification that they are pulling troops back. There are various reports that they are moving troops back. There are troops that are moving around. We know that. But no indication of any Significant Movement of those large troop deployments along the border away from the border. The president has been focused on a diplomatic solution. We want to deescalate this in any way we can. That is the smart way to do it, the responsible way to do it. Allowed this effort and we made it very clear what our position is here. Is a responsible approach and we will continue to work that. It feels as though nato may be ratcheting thing up. There is talk about nato considering more options to sort of reinforce the position in eastern europe. Of may be returning one brigade, a u. S. Army brigade, back to europe . That has been floated as an idea. Is that something the defense department, the u. S. Would consider, sending that army back permanent