Sitting right on the 18,000 mark on a day when were up 288 points on that index, or about 1. 6 . That also makes it the outperformer of the session. Look at the s p by comparison. Up by about 1. 3 adding 23 points. The nasdaq having a decent day as well adding 53 points. Almost back at 4950 as it continues, bill to climb towards that 5,000 mark. And can we see wti oil for one second . A late, very late rally here after the state Department Said that there was a 5050 chance that we would have a deal with enron by tomorrow. I love this. When kelly and i heard that you said oh gee, only 50. Only 50 50. At least we got 50 50. So half full half empty. Either way, oil rallied, and about a one dollar day on the closer comeback really is what it was. Because it finished down. Well talk to our guests about what that means. We have energy reacting to that move. And we have the financials leading the way today. Notably jpmorgan after that barrons Weekend Edition with jamie dimon on the cover. I havent really seen a moment like that for these banks since the financial crisis. Lets talk about all of this in our Closing Bell Exchange right now. Joining us today, Anastasia Amoroso from jpmorgan funds. Jason pride from glen mead is with us. And getting to be a regular from Kkm Financial in chicago. And our own Rick Santelli joins us as well. Sam, lets kick things off you. You put out a note with your outlook for the Second Quarter, and youre tempering our expectations even further. Why . Well, bill, we all like to say that the Second Quarter is like the middle child. We know its out there, but we dont really pay much attention to it. The performance has actually been pretty good. All sectors in the s p 500 have posted average increases in the Second Quarter going back 25 years. Yet what unnerves me a bit is that were seeing the high quality outperform the low quality. Were seeing the low volatility beat out the high beta and the pure growth outperform pure value. It seems to me as if investors are saying i want to embrace more defensiveness, and at the same time, ill take what i can get now. Im not going to worry what i can get later on. What are you going to say im an oldest child . I came from a test tube marked failure, but thats okay. Listen this middle child discussion. Okay embracing defensive names. Lets pick that up and run with it. Anastasia, you see the same kind of thing playing out in this market . Were getting a lot of questions from investors who have been in a yield hungry mode for months and even years now. I guess the main things on their minds are dividend stocks still the place to be . Thats absolutely right. The search for yield continues. What is interesting about the environment today is the search is not just local. Its not just contained to the United States anymore, it is absolutely global. With the jcb, what theyre doing, the search for yield continues. The reason why were seeing a bit of a pause and a turn in the market aside from what were seeing today is we are anticipating what the fed may or may not do come june maybe july, maybe september. I think its only natural as a narrative for the stock market changes which is its not so cheap anymore and earnings are maybe not quite as robust i mean theyre still solid, but they do have some headwinds. And youve got the fed that is no longer too, too easy i think that changes the narrative for the market. So that could be part of the reason why youre seeing that defensive move. But, again, i think thats a temporary state, not a permanent one. Jason pride, were all focused on the fed but the fundamentals still matter. On friday we get the big jobs report. What are you expecting. By the way, this will be an odd situation. It comes out friday. Good friday there will be no trading here in the u. S. On that, even though well have a special report on that on cnbc friday morning. Well have to wait until monday to actually trade on it. What kind of a report are you expecting going into this day . Well look its kind of appropriate that were going through march madness right now. Thats exactly kind of what is the mindset. I think a lot of people are really confused. Jobs report Federal Reserve, direction, the overall economys direction, i think you have to take a few steps back and look at the picture. The big picture is were still in a growth period. Were still in expansion. The jobs report it will probably show reasonable growth and employment. And were still moving in that positive direction. But lets face it. The fed is starting to have to normalize Interest Rates. Valuations have gotten not necessarily really expensive, but at least a little expensive in the u. S. Marketplace. And everybody is now trying to make sense of all this. There is all these concerns about a slowdown. But, look i think its really more surrounding the weather. And were going to find out that were still in an upward trajectory, just a fairly modest one at this point. The slowdown contains a reference to the gdp numbers. Over the weekend more and more people sifting through the data marking down their gdp forecast down below 1 . Some are zero. In some cases absolutely. Rick what do you think about Ben Bernankes new hat as blogger . Id rather talk about gdp. You know i think gdp is more like an Ice Cream Cone. You know you get a takeout on a hot day, it looks great while youre driving home. But by the time you get there it didnt look like an Ice Cream Cone anymore. That seems to be the level of growth for every quarter. But as the quarters wear on it always seems to lose a little steam. The fed missed an opportunity with the strong second and third quarters of last year to normalize a little bit. Now theyre trying to swim against the current. You know, if i look at europe one of the guests pointed it out, or maybe it was you, bill coming in today, they knew it was going to be an up day. Every currency is weaker against the dollar. Pretty much every sovereign market from the shanghai to the dax. A very digital world. Why . What is the one Common Threat that unites all economies besides debt stimulus. China, when they do it they usually do it big. I think the dynamic in todays market is pretty clear. Thats true. Good point. China making noise about stimulus there. By the way, speaking of ben bernanke in that blog he said on twitter today that he feels like he is at a point now where his words wont be parsed much under the microscope. Au contraire. Wait until you find out, ben. Its still going to happen here. Dont worry about that. Jeff killburg were at the possibility that we could see a negative quarter for the dow and the s p, although today its looking less likely with this rally. But it will be the first time in nine quarters that we could see a negative quarter. Youre the trader would. That be meaningful to you or not Going Forward . It would be meaningful, bill. But youre absolutely right. These are bipolar markets. Why are they bipolar . Why is there so much emotion and anxiety in chicago . Is due to the fact that the fed qe policy or essential bankers around the globe were pricing them to perfection. We think there is going to be absolute perfection on their exit strategy. I think the chances of them have a perfect exit strategy is similar to my bracket, bill, 1 in 9. 2 trillion odds against me. People are preparing for this summer because there is going to be more tumult as we digest the dollar and all the moving parts. What are people afraid of . What do they think is going to happen . That the fed moves and the market blanches and the fed doesnt respond to that . Walk me through the scenarios here. I dont think its as much as the fed what are they going to do, its what can the fed do at this point. Were already seeing corporate profits decrease. And that waning of corporate profits is indicative of the strength and the velocity of the u. S. Dollar and the damage already done. The cat is already out of the bag. Well have to see how this spells out as we see the tencontinue to stay under 2 . We look at volatility. Kit not be specific to one asset class. Volatility falls in other asset classes. Right now stocks globally have been not included in this volatility. We they is coming. So were preparing for a little bit of a pullback as prices should reprice. Thats not a two or threeday process, kelly. Thats a two to threemonth process of reprocessing. Anastasia, what is your strategy for making money in equities right now . Are you voting for growth . Defensively where are you going . Growth is the way to go. One thing we need to get accustomed to as investors in the sixth, seventh year of the bull market, this is not the time to buy the aggregate s p valuation, because thats not where the value resides. I firmly believe the value resides underneath thing a aggregates. One thing that stands out this year is if we think this is the year of the u. S. Consumer and we do because everything you look at suggests that u. S. Consumers in the driver seat. Then stock sectors geared to that biggest trend should be the ones that benefit. And of course thats what were seeing today, whether we look at autos, whether we look at home builders. Those interest sectors that are leading the way. And jason just going back to this point about the fed raising rates and what might happen and what are we fearing . Perhaps all this focus on equities and their valuation and the kind of correction we could see is misstaysed i just wonder, jason, if you guys are invested fully in fixed income, if you think the entire space looks risky even though again, as time goes on Interest Rates move far less than i suppose were anticipating. You know is that where the real risk is here . Some of these bond instruments. I think you hit it on the head as to what is bothering some investors. Some investors are looking at this and saying looks, weve been on life support for five some odd years now in terms of Monetary Policy stimulus. And now thats starting to come away at a time where valuation, you look at certain measures show that the u. S. Market may be a little bit overvalued there is this question in peoples head as to whether we can keep this going with the Monetary Policy pulling away. I think our response to that and to kind of answer your question is Monetary Policy is number one, not going away all that quickly. And number two, yes, the economy can keep going, and markets can continue to drive higher. Were really not at extremely high valuation. So on the whole, everything is a little overvalued. But its not an extreme overvaluation levels. Were twisted a little bit towards equities. Were underweight fixed income. But were not really over our skis in terms of taking too much risk in clients portfolios. There you go. Thank you all, folks. Have a good march 30th. Thanks everybody. Appreciate your comments today. We got about 49 minutes left in the trading session. We do. Here is where we stand. The dow just under the 18,000 mark today. Up 1. 6 , led by the financials, a as we mentioned. Jpmorgan an outperformer. S p having a good day, up 1. 3 . Better for 27 points. And the nasdaq getting 1. 1. So a snap back after yesterdays tough skiing to continue the metaphor. The nasdaq getting 55 points, just under 4950. Just waiting for water skiing weather. Thats right. Much more ahead on gopros rally. The weighing in on the 500 s p heat map here. Speaking of comeback can u. S. Automakers get their groove back in the luxury space . Ford and General Motors hoping to outmuscle mercedes and bmw with their rollout. The pros debate if American Consumers will return to u. S. Luxury, when we continue. Hello. I am here to offer sophisticated investing strategies. My technology can help you choose the right portfolio. Monitor it. And automatically rebalance it. All without charging advisory fees, account service fees or commissions. That may be hard to compute. But im a computer. So trust me. It computes. Say hello at intelligent. Schwab. Com rally day on wall street. By the way, for the quarter, year to date now, the dow is up about 1 . The s p up about 1. 4 with our rally today. So nasdaq not even close. Its pretty positive for the year. Up 53 points right now. All ten sectors in the Standard Poors 500 index are positive today, led higher by energy there was a lateday rally in oil. Financials are doing well. The laggard today the Consumer Staples beat them even at that. Thats up almost 1 in todays trade. Now, when we say luxury car, you probably think mercedes bmw, audi for example. But ford ceo mark seals wants to change that. Earlier today on squawk on the street, he spoke about bringing back the Lincoln Continental. Back in the heyday Lincoln Continental defined sedans in the 50s and 60s. Thats what we want to do with the new continental concept. For us it signals quiet luxury which is about elegance. Its around effortless power. Its around a serene and relaxing interior a place you can chill. So what we want for this vehicle to be an extremely successful vehicle in that segment. By the way, tomorrow General Motors is introducing its new cadillac cts. So the question is can the u. S. Automakers recapture the luxury market that has been owned in europe and asia all this time . Joining us now lauren fix, the car coach, and allen gutierrez, Senior Market analyst at kelly blue book. Thank you both for joining us today. Lauren, i think ive seen this movie before. U. S. Automakers once again trying to come up with a luxury model that will compete effectively with bmws and the mercedes of the world. You think they can pull this off . Well cadillac is making a bid more so than lincoln. Theyre talking about performance and theyve got the atsv. Everybody has a v on it which means performance. But you know what . The german really have a big stronghold when it comes to performance. Youre looking at their rs and their lineup to their amgs to their m power. Now youre going to add in cadillac. They may have the performance, but they need have the style, the class, the polish that is not really there with the chiseled look. Well see what they can do. But with lincoln, its all about elegance there is no one in that space. That space as far as im concerned has been sort of left to lincoln. And theyve really done a beautiful job on this continental. Inside and out with 30weight power seats and nothing but the best. Alec would you agree there is nobody in this space . Its wide open for lincoln to take . I think there is opportunity there, but i think that lincoln will face the same challenges that cadillac has in trying to go toe to toe with the germans. When you look at the luxury space, its all about prestige. Its all about reputation. And mercedes and bmw and even audi for that matter have a huge head start over cadillac and lincoln who have been floundering for a lot of years until maybe the last three to five years. I think there is potential there. I think the continental looks fantastic. I think theyve done a great job with it. It could perhaps shake things up to some degree. But i think theyll have to focus on elegance like they have. And Even Technology for that matter, which is a space that is still right for innovation. Who is going to buy the lincoln, though . Lauren, ive got some research here. Ill be frank. I dont know who put this together. But there is some speculation that the lincoln with all the amenities that they are hoping to put in there could cost as much as 100,000. You put that up against an s class in the mercedes. You put it up against the bmw 7 series. I mean are they actually thinking theyre going to be able to compete effectively with those molds . Youre actually getting into bentley territory at that point too. Right. And youre talking about the premium. Then youre pulling into landrover and jaguar. The brits have done some rolls and beautiful car theres. When youre talking about a 100,000 car, i think theyre looking for big chunk of their sales to be in china. Thats going to be a big thing. They love to say theyre driving an american car. And to say theyre driving a lincoln or being driven in a lincoln, at this level with this type of technology with the leds, alec is right. It has to be about the heritage. It has where you stand in positioning. Im waiting to see what cadillac actually has to put out. Because power is great. But style its coming in and out, laurens audio. Our apologies. Alec, to you, then. Is this all about their positioning in china . Because the question we pose is whether this will be a hit with the u. S. Consumer. Perhaps these guys are really looking past that. Realistically, yes. I mean you have to know that theyre thinking about china. Thats an area where cadillac buick for that matter has done very well. Lincoln has done quite well in china. Thats a natural fit for a vehicle like this with that kind of price tag. Thats not to say that lincoln and cadillac for that matter is willing to give up the u. S. Market. Clearly they want to have a strong presence here. They want to own that. Want to dominate that market. But i think they have to go into it knowing that 100,000 is not something to not something to overlook. I think buyers in this market are very savvy. They know you have options whether youre talking a bmw 7 series. Even a tesla model s, even going back to some of the technology and innovation out there. It is a crowded market space at that price point. Its going to be really tough to make an impact. All right, alec good to see. Thank you for joining us. Lauren, i see you back there. Thank you. Sorry about the audio interruption there as well. By the way, a friend of mine his father had a Lincoln Continental. It was the coolest car back in the 1960s. And now theyre bringing it back. Im sorry. Lets do this promo now, shall we . Tomorrow tune in during power lunch where becky quick sits down with Warren Buffett and larry van tuyl. Thats live from the automotive form. Its all fits on one marquee. Part of the new york automotive show that is on this year in new york city. Hear more from buffett about his part