At the peak today. Mayer still in the crosshairs as she takes on starboard. Could we see changes . A question weve been asking since the day she took over. Unfortunately. More Political Drama today, ben carson, may have heard endorsing his former rival on the campaign trail, donald trump. We have someone who knows a thing or too about drama, Ellen Burstyn, her new role in the current season of house, what a great job shes done. Well get her take on the current political field which shes very active in among other things in a little while. Looking forwards to meeting her. New details on 100 Million Bank Heist and why some are blaming the new york fed. This is a tricky one for them. Very tricky. A lot of money involved there. Lets start with the markets rally, david is back from us and jonathan from Meridian Equity Partners at post nine at the big board and Rick Santelli checks back in from chicago. We were both gone yesterday john, but the European Central bank cut rates to zero and there was a rally and then there was a selloff and then there was a rally. Whats going on here . We had pretty significant moves in the market yesterday, 300 in the dow, about 30 points in the s p 500. The significant portion of that is towards the end of the day yesterday, the market did rally and we closed strong. What were seeing today is just an after effect from yesterday. The ripple effects of the ecb comments out of europe is now finally settling into our markets here. I think investors are somewhat relieved to have more information out there and more transparent. Theres a plan in place, whether it works or not, well have to see. Next week were going to hear from the fed ourselves so on wednesday hopefully we get some more information about what they are thinking and what their plan is. I dont particularly bet thats going to happen but that gives us something to look forward to on wednesday. Do you think the u. S. Dollar will keep weakening here . Thats been the surprise move over the last several weeks . It has. If you look back a month ago, the prevailing wisdom was strong u. S. Dollars i thought it was a crowded trade. Always think you make your most money when you run against the herd and take a contrarian viewpoint and suggests there will be more dollar weakness ahead for us. That can be beneficial to those Multinational Companies and i think that pairs up u. S. Domestic equities with developed Market Europe poised to play this market for generating better than average returns. Rick, im going to serve up a fat one here for you, my friend. Theres a thought out there, reading a sage i like to read, he feels the last couple of days, this is an example of how markets are becoming lessee namerred to Central Bank Moves and the impact is wearing off, they are becoming to the point where they want to see normalization, something youve been pulling for almost since day one. I imagine you agree with that, huh . I absolutely do agree with it but i also understand that a market isnt meant to be defining what the moral issues of policy are. It isnt the markets job to go on a moratorium and stop trading because the referees are now players on the field in the form of central bankers. I think yesterday you had a very good glimpse of reality. I dont think the policy is working. I think all of the smart traders that loaded up one way or the other in a variety of markets because its a foregone conclusion of course if the fed does this, the dollar does this and march row draghi does this and euro does that. A funny thing happened on the way to the marketplace, the euro turned the market and to me the ongoing strength is a issue of unintended consequences of questionable policy. The fed is a nice window where the Dollar Strength maybe at bay with regard too the yen and euro. I totally agree with you. I think today investment great corporates, the fun they are sprinkling back in the foreign vex ter stimulus is something that traders can trade on. Im not surprised to yesterday and not surprised at today but lets be macro. Were still not up in the year in stocks, even though its the second best close of 2016. If you look, its bizarreo land. European corporate bonds, those spreads really tightened and part of that is because the European Central bank is going to be buying them now. Does it also indicate any brightening of prospects . Are all of these moves and Asset Classes suggesting that fundamentally the markets do think the ecb has delivered enough here . Well, i think markets will move, people will collect checks that have it right and give checks that are wrong. Just because investment great corporates are improving because the central bank is buying them, doesnt mean the fundamentals of the country behind them have changed at all. But the fundamentals are better than average. If you look at a ability to generate cash flow and market off the february 11th lows, you have better staying power with small caps rallying 12 and high yield bonds, 6 to 7 . Theres no big bang on february 11th that was a great buying opportunity other than more than 80 of individual investors said on that very day they were bearish or neutral and its a better time to be in there buying than to be running from the market. John, weve been blowing through resistance levels here. What are you watching . Is this for real . Is volume enough here . Actually, im answering my own question. Youre absolutely right. Volume is not enough here. 215 has been a top level interday, if we get to 220, i would be surprised we can break through there. On down side, 205 was a resistance level for a while now become a support. I think if you look within that range there, thats going to be for numbers mostly next week as monday and tuesday might be a little bit slower heading into the referees playing on field on wednesday. Jonathan, how much is oil here . Whats the relationship between oil and equities now . I like the disconnection were seeing right now. Weve had pretty significant moves in the market and oil seems to have stabilized in a pretty tight range. It has moved higher but in the past when the market was up big, oil was up big. Were not seeing that correlation now. Things are evolving for sure. Have a great weekend. You too. Crude oil prices are moving higher and International Energy agency said prices may have bottomed and weve had guests on closing bell who have taken opposing positions on whether we put in a bottom here. I think weve seen the bottom but there are forces at work. The fundamentals are moving in our favor with the declining production in the u. S. And host governments and natural oil companies. Our view for three rate hikes in the u. S. , this coming year, reinforcing higher rates and lower gold prices and lower commodity prices. Have we seen a bottom in crude oil . Its one of the water cooler topics these day. Lets bring in andy lippow who thinks we have hit bottom and tom says we have not. Andy, why do you think weve hit bottom . I think weve hit bottom because weve seen Oil Production climb up 600,000 barrels a day since last april. I expect it to continue to come off. Even though opec has talked a good story about the freeze, i think they are waiting to see what happens later this summer and what happens in russia and not as much export in oil out of iran that the market would like. And you match that against increasing demand and things will look better towards the end of the year. Tom, what about you . You dont agree . No, i dont, i think that unfortunately we have seen production decline here in the u. S. But the question is what happens when the price rises, is the genie out of the bottle. Youve seen a 10 rise in oil. As the price rises youll see rigs that have turned off, turn back on. To a point it is about u. S. Production but i think just sort of saying production will continue to climb like people thought in 2015, similarly to 2016 is a little bit premature at this point. Tom, you have to acknowledge, it was a month ago today on february 11th when the United Arab Emirates oil minister said they were going to talk about freezing production and oil turned on a dime that afternoon. It was around 2 30 in the afternoon around settlement time and it has not looked back. You think the market has it wrong that they will be unable to come to an agreement to freeze production . I think history would tell us that buying oil ahead of some sort of grand opec Production Cut over the past several years has been a foolser rand. The talk of that in an oversold market produced a short coming rally and it has been impressive but where do we go from here . We have to see continued production declines and opec has to deliver. Andy . Well, a couple of points, as the oil prices rise, although a lot of people expect rigs will go back into production, i expect actually the banks are going to be reigning in credit and saying to these producers were not going to lend as much as you hoped to get. As well as i think when we look at opec, this is just kind of a precursor for them going out this summer and having another meeting. Less than expected and opec will sort of make some statement about were going to reduce production from a very high level and sort of declare victory in the market and then go away and see what happens. Tom, before we let you go, where do you think back to the previous lows we said recently . I dont think recently. I think if u. S. Production stops declining like it did in february and this production meeting or production freeze meeting yields nothing, you could see oil trade into the 30s. Longer term, im not sure if natural gas is a blue print for oil but i heard the same theories about natural gas, lower prices will cut production. It doesnt and im not sure if oil is the aim but its looking similar. A couple of different perspectives on the oil price near session highs. The market is doing nicely with the dow 203 points and s p up 29 and nasdaq up about 75 points there too. We admit it, we should have gotten flu shots this year. By the way, thank you sara eisen for working 15hour back to back days. Shes on an airplane right now get agway from this. Marisa mayer would love to keep her boajob but starboard m have different plans. Bojangles ceo on how they are going to tackle the popularity of all Day Breakfast. Shares up 22 . Look at the biscuits. Well be right back. Our cosmetics line was a hit. 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Gov we need to be ready for my names Scott Strenfel and r im a meteorologist at pg e. We make sure that our crews as well as our customers are prepared to how weather may impact their energy. So every single day were monitoring the weather, and when storm events arise our forecast get crews out ahead of the storm to minimize any outages. During storm season we want our customers to be ready and stay safe. Learn how you can be prepared at pge. Com beprepared. Together, were building a better california. Welcome back, we have a rally today, nasdaq up 75, 1. 6 gain at 4737 as all markets rethink the ecb strategy and all of the things weve been talking about today. Meanwhile, the war of words between apple and the department of justice is becoming more hostile, getting personal in response to the governments claim that apple is trying to advance socalled false arguments in the fbis case to unlock that iphone belonging to one of the San Bernardino shooters and apple responded with, everyone should be aware, because it seems like disagreeing with the department of justice means you must be evil and antiamerican. Company added, we are honest about what we can and cannot do. Lets at least treat one another with respect. That from the general counsel is the apple. When does this resolve . I mean, either they do or they dont help unlock it and what happens then, right . This could be going on for years in any case. If it ends up before the supreme court, questions about what happens with all of these pending cases, not just this one. Absolutely. Some of this stuff is time sensitive. It may take years to go through the legal system as always but the cases depend on a speedy outcome. I keep thinking if in fact the doj is ever able to open the fbi open that iphone, there better be something in there after all of that. And makes the gop debates look civil but last nights was pretty civil. This has been unusually both been unusually outspoken in using such strong words. Back and forth between Corporate America and justice department. Yahoo is back in the spotlight after news they are spending off a proxy battle with starboard. Marissa mayer sat down to talk her future with charlie rose. Do you think youll be running yahoo a year from now . People ask that. I think that again, i would love to and love to be running yahoo we have a threeyear Strategic Plan and can see how we get to the successful turnaround of yahoo she didnt say yes or no. Joining us right now, eric jackson from spring owl asset management, very critical of yahoo and sent the company a 99page Investor Presentation back in december, also with us, larry from multimedia trust who owns shares of yahoo . Not quite as critical. Eric, 99 pages. Cutting to the chase, you want Marissa Mayer out, dont you . Its been three and a half years and what does she have to show for us, other than an hour appearance with charlie rose. We probably still think of this great internet pioneer, turned it over three and a half years into essentially the same kind of company that aol was. Okay. Larry, make your case for yahoo whether or not you think marissa is the best fit for long term . I think the stock base beingally the core business should be sold. I think its very clear that the failure of management here is epic in its proportion. Now that said, whats the best way to maximize shareholder value . Im afraid if theres disruption in management, youre going to lose possibly 400 or 500 million a day. If you put an 8 multiple on that. The shareholders have suffered mightily, the stock has been stagnant and facebook has tripled. The internet areas that they service are growing 15 a year or more and this company is not growing at all why still hold it then . Well, we hold it because we think the assets are worth in the neighborhood of 53. And then theres a tax leanage thats uncertain. But theres tremendous value. We are Value Investors and very, very patient. Were bigial alibaba. And we could like to see the core company not erode more value than it has. The best way to keep that happening, leave marissa in place, as difficult as that is. Eric, is she really the problem . I mean, you could argue before she even came on board you were talking about damaged goods with this company. They already lost tremendous market share and already fallen behind the other companies that they were competing with at that time under all kinds of criticisms you could make prior to Marissa Mayer. Will jettisoning her solve the problem . When she arrived, yahoo 1. 5 billion a year and now at negative. Is she the problem . Of course shes the problem. There are no yahoo mobile apps to speak of, more than 80 of the revenue still comes from pc and we know that business is going away. I agree with larry, everything hes saying about the hidden value, thats why we still own yahoo as well and pushing for change. I disagree that keep ma ris sa in place, this whole sale process has been a comedy of errors. Who would you rather see in the ceo spot then . I think there are a bunch of candidates of capable people who can do a much better job than her. Jackie reses and levinsohn and many capable people. She talked about a threeyear plan. This comes after the last three and a half years. When do you ever hear about that . Somebody getting another threeyear plan after failing at the first three and a half year plan. Larry, what about any of those names . I think the situation is if they walk in, you saw what jack dorsey did with regard to twitter and basically rebooted the stock base compensation. The labor market in Silicon Valley is very vibrant right now. If you change management here, i think a lot of people will walk down the elevate every and walk out the building and there will be tremendous impact on operating cash flow in the company. Its not that vibrant anymore. All right, guys, thank you. Eric jackson from spring owl and Larry Haggerty talking what should be next. Get them together for lunch sometime. They with work out differences there. The dow holding on to gains of 200 points at this hour. Oil is popping today, a rally isnt being felt in many parts of the bakken. Up next, Ellen Burstyn, shell talk about her new role on house for cards and crazier race for the white house coming up. No, i wasnt. Oh look, you dropped something. Its your resume with a 20 dollar bill taped to it. Thats weird. You want to work for ge too. Hahaha, what . Well were always looking for developers who are up for big world changing challenges like making planes, trains and hospitals run better. Why dont you check your new watch and tell me what time i should be there. Oh, i dont hire people. Im a developer. Im gonna need monday off. Again, not my call. 200 point gain for the dow. The s p is up 30 points and nasdaq, look at that, almost an 80point gain. What do you say we look at the sectors for the week . Yes, please. Utilities the leaders t