Speaking of d. C. , as President Trump closes in on 100 days, not getting a boost with this market rally. Thats nnenergy. Its the worst performing sector. Theres a debate on whether its time to buy the losers. Meantime, we got a whole in fact, this would be the busiest earnings week in a long time, but its kicking off tonight, we got alcoa, express scripts, and tmobile reporting. John legere is here as soon as results are out. Of course, john, a colorful interview. We look forward to the comments coming up. John legere, jim cramer together. Fire. Payperview if anything. Beginning with wall streets rally, driven in by the French Elections, results there, showing the leader now going into that final election coming up in two weeks, bob, and michelle is in. The market is holding up, all the european banks rallied. Deutsche bank up 11 p close 20 a 52 week high, its amazing. Come over here. We are having huge numbers of stocks with 52 week highs, close to 250 today. Industrial stocks like 3m there on the left, up 1. 25 . Walt disney at a 52week high as well. Dow components today, seven, eight of them hitting highs. Over here, home depot. Another 52week high, do it yourself crowd, how well they doing recently. Mcdonalds in the restaurant group, Consumer Discretionary hitting 52 week highs, the bottom line, guys, look whats going on. Breath of the market is fantastic. 31 advancing to declining stocks all day. No signs of selling off at all. Unurinal. New highs expanding, almost 250 here at the new york stock exchange. Volume is trending to the heavy side, mod ra now. Vix, you know what volatilitys doing, collapsing, back at 11. Doesnt get broader. Everythings up 1 . Guys, back to you. . Celebration of sorts, and it all started in paris. Lets go live there now where Michelle Carusocabrera has a look at what happens next in the French Election process. Reporter what happened in the last few minutes, sara, that le pen, final two con tes tonights faces off two weeks from now has gone on french television, and they are resigning as the leader of the party, quote, uniting the french people, and its not just about taking more time in order to run for president , but its also, we believe, a way to soften her image, her party, started by her father has been quite controversial for her and her fathers positions on immigration, shes her father was antisemitic considered when running the party. This could be her softening the image and broaden the base. Regardless, the markets rallied very sharply here across the european continue innocent because of the results of the election. France was higher by more than 4 . Italy rallied sharply. Germany at a new intraday high. The results here are seen as some kind of decision about what is the future of the euro. Le pen is against the euro. Her opponent is very proeuro. So what happens in france matters to the entire continent and the european project. The reason the markets rally is because they are pretty convinced that he is going to win, ahead in the polls by a large margin, and everybody who supports him is crossing fingers at this point thinking its a done deal. The markets act like that, but a lot can happen in two weeks. Guys, back to you. That is for sure. Thank you very much. Well talk to you next hour as well with any new developments. Are the markets getting too excited here . Too quickly . Following yesterdays electioning results. Lets get to the Closing Bell Exchange for this monday. Joining us, luca from asset management, next to steve grasso fr , and Rick Santelli from the cme in chicago. Steve, all i have to look at to see the day were having is the volatility index thats plunged today. Everybody loaded up on hedging last week, and at the 15 on the vix, and today, we got down into the 10 handle here. Waiting for the event, and, you know, you guys started off on the show saying exactly what the interpreting now. Look at the intraday. It does not tell the story. You see the fluctuations. Basically, on what is happening over the weekend and what we look forward to or nervous about in the marketplace. Yeah. Having trouble with the microphone. Hopefully well fix that. There you go. Now we can that wasmy best stuff. I dont know that i can redo it. I doubt it. The marketplace was definitely preoccupied with a handful of issues, and the French Election, one of those key issues that the market was really eyeballing. If you look at the intraday on the tenyear, its not telling the same story as the riskon trade seen in the equity markets, so for me, leads ple to believe youre better off selling the pop in the ma crow market and s p. Theres a handful of things to be worried about. Theres going to be broad sweeping discussions on tax reform. No specifics thats going to really make the market move higher. Youre right. The first answer is better, the lost answer. Well never know. I got the point, what about you . Do you share the optimism we see, a more than 1 prkt rally here for u. S. Stocks . On this idea that if they do win, and he is leading, as michelle said, by more than 20 points, they stay target for now . Yeah, i think so. Whats really positive that you are seeing a big turnout in the election so i think the probability of le pen winning second round a low, but we see much more upside in euro and asia than the u. S. Expectations are higher. We feel that the upside is mainly europe and especially in emerging market asia. Rick, what is your read on the market response . You talked about the safety trade. Thats off. Golds down, interestingly, the dollar index is lower. The euro stronger. That makes sense there. Yields have gone up, the treasuries here. By the way, get a tenyear greek bond for 6. 5 . Theres a bargain. Yeah. Bargain at any price, right . I think steve nailed it. Now, when i look which time . Especially through the prism of the dollar index down so much, yeah, you know, 12, but it doesnt steam like it really is the huge risk on trade until you look at equities, but looking at interest rates, its a flattening event. Put it in perspective. The ecb says, hey, guys, anything goes wrong with the French Election, count on us to provide liquidity. Nothing yet has gone wrong with the first round of the French Election, so what happens . Rates go down in italy. Rates go down in spain, rates do down in france. But they go up on the other side of the spread, bund yields. Up on treasuries, but bunds, treasuries both up. The currency that does better is the euro. Okay. So right there, theres an issue. You want to pay particularly close attention to that 99. 17 mark in the dollar index. The low from march 27. A whisper below it. On the yield side, we shoot up to 232, 31, 30, and here we are back at 227. Since we closed below, we have not closed above it. Huge area of significance. Listen, i dont know whats going to happen in two weeks with the French Election, but i know one thing for sure, just because we have an election that didnt take the worst possible outcome in france, doesnt mean that frances economy is hugely better today or the rest of europe. I think the long end is going to go right back to focusing on growth, the short end, not a pop in yields, dropped in price, holing that drop more than the rest of the curb because the fed continues on the track. I think this is what we have to work with. No easier setup to monitor. Use pivot for socks, 227 for bonds. 9917 for dollar index, and see how it pans out on the closing basis this evening. You forgot another key level that everybodys watching today, steve, and that would be the nasdaq inching closer and closer to the 6,000 level. Significance of that ahead of key tech earnings later in the week . Well, when you look at the market place, you know, you started out saying that energy is the worst performer. When people look for growth and risk on trades, they reach for technology companies. We saw energies, financials, and health care actually under perform, and we saw financials in Health Care Just rally back, and energy lifted positive today when you still have Oil Struggling to get over the 50 benchmark in crude. One thing thats constant is the technology space, has been able to sort of weed out and roller coaster this marketplace and still wind up, and although the dance card, technology as a whole is where people go for growth. Yes, they do. Gentlemen, thank you. Appreciate the thoughts on todays impressive market action. Worldwide, as a matter of fact. Well see you later. Lets see. We got 50 minutes left in the trading session here. Off to a good start for the bulls. The dow right now, up 237 points, and that vix, i cant just have to keep pointing it out. That is its plunging today. In fact, were back with a ten handle now. We were below 11 right now on the vix. We have big earnings to talk about after the bell, alcoa, express selfincriminacripts, a. Ceos of express scripts and tmobile speak about possible Merger Acquisition action in their various industries and a lot more still to come here on closing bell, youre watching cnbc, first in Business World wild. Think again. This is the new new york. We are building new airports all across the state. New roads and bridges. New mass transit. New business friendly environment. New lower taxes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. Ny. Gov but weve got the get tdigital tools to help. Now with xfinitys my account, you can figure things out easily, so you wont even have to call us. Change your wifi password to something you can actually remember, instantly. Add that premium channel, and watch the show everyones talking about, tonight. And the bill you need to pay . Do it in seconds. Because we should fit into your life, not the other way around. Go to xfinity. Com myaccount dow up here, here are the stocks that make up the Dow Jones Industrial average, interestingly, you dont have everybody higher today. Theres walmart, verizon, disney, and nike lower, but the financials, jp morgan and Goldman Sachs lead upside today. Adding the most points to the dow as well. Goldman sachs, 44 points on its own. Treasury secretary made a surprise appearance at the White House Daily press briefing. Ylan has more on that and the big week ahead in washington. We learned that mnuchin and gary cohen head to capitol hill tomorrow evening to talk tax reform with republican leadership. The house speaker, ways and means chairman, Senate Majority leader, and the finance chairman will be there. Nbc reported that President Trump wants to keep the 15 rate on Corporate Taxes, proposed the campaign trail, no word, though, yet on how he plans to pay for the cut, of course, expect the to make broad principals unveiled on wednesday. Mnuchin said this afternoon tax reform is a critical part of the agen agenda. Working with the president over the last year on the economic plan in regards to creating growth. The president is determined to get to sustained 3 growth or higher. Y we are working on reform, and job creation. Reporter all of this comes amid intense negotiations to keep the government up and running. Fridays the deadline for reaching a compromise. The big stickingborder wall. They insist money to pay for it, and democrats say, no way. Back to you. Do you sense is there a sense of urgency so this or is that silly . Its only monday. We have all the way until friday before the deadline. Not all the plow makers come back until tuesday. Right. There is a sense of urgency in order to meet the deadline friday. Theres not a lot of time on the calendar, and lawmakers have work to do before reaching a compromise on government shutdowns, not even beginning to talk about tamt x reform or hea care. Any democrats on board, or does the white house have to con pitch late in the end to get democratic votes for the border wall increase or make a deal around that . I mean, how does it look . The white house needs support from democrats in order to get a spending bill passed through the senate, so there has to be some negotiations, some dproms there, there is a possibility that the white house might say, well, if we get Border Security money, that might count as money towards the wall, and this would help them save faith and help the democrats they say did not pay for actual physical structure along the southern border of mexico. Well see how it all pans out. Oh, yes. Could be a very, very interesting week. Rest up. Thanks. A little over 40 minutes to go before the closing bell. We have a pretty consistently strong rally, but the dow up nearly 240 points, watching the nasdaq level carefully. You see more than ten points away from nasdaq 6,000, financials, industrials, technology all strong today. Wonder what color hat we get for the nasdaq 6,000. I dont know if theres hats. Im sure. Dow hats. Ceo of express scripts and tmobile after the earnings report. Stay tuned for that. Another Airline Incident on American Airlines. A different outcome compared to uniteds debacle. Well give you the details on that next. Best day for stocks since march 1st, the last time the dow and s p set record highs, nasdaq closer to the 6,000 mark for the first time ever. And stocks here, the dow, s p, and nasdaq, though, with todays advance are erasing aprils decline. We are now positive for the month. This on the reaction to the french reaction votes. May get volatility. See how it plays out. Meantime on the heels of last weeks United Airlines pr disaster now comes American Airlines embroiled in its own viral mess. A different outcome, though. Different outcome, bill, but speaks into the general feeling out there about the airlines and how they treat customers needs evaluation. This is the video seen over the weekend, and in this case, it was a passenger who was trying to get on board. There was disagreement with the staff, and then another passenger who is involved in an altercation with an American AirlinesFlight Attendant. They investigate this, that Flight Attendant removed from duty. Less happen two weeks after this video shot by people on the united flight of dr. David dao dragged off a flight less than two weeks ago. United is reviewing its bump passenger rules, expecting new rules by april 30th. The lawyer who respects dr. Dao and the woman involved in the altercation over the weekend says Airlines Need to be held accountable. The Airline Industrys favored. The Airline Industry is the only one that i know of that has been allowed to overbook. Not going to the dentist to be told, we cant fix that root canal today. We overbooked people at 4 00. Separate from the cases, looking at shares of both united and american, stocks not impacted today over the latest incident over the weekend, but, guys, looking at the stocks, the big question for the entire industry, what happened when it comes to overbooking flights . Does that somehow get regulated away through actions in washington, d. C. . Thatll play out over the next several months if anything changes at all. Oh, just crazy how they overbook. See jimmy kimmel . What if they overlooked at restaurants, and you order your food, but you have to get out because next people are coming. Just crazy. By the way, flying cars, maybe that solves the airlines woes here, phil. Larry page, he of google fame, puts a closure to flying cars, yes . I love this video. This is awesome. I would love to go for a ride on this. Id love to fly one around. This is from the company kitty hawk, the kitty hawk flier, a startup, larry paige a backer. Its less a car, guys, and really more of a aircraft, a person flying a drone, but the video released this morning, its getting a ton of interest, and for good reason because kitty hawk hopes to sell this by the end of the year, have it go on sale, no price set yet. I bet you a lot say sign me up, but what ultimately goes on sale, if before the end of the year is far different than what you see here from kitty hawk. So many questions about this, phil. First of all, do you need a pilots license to fly it . Not if its an ultra light. Thats under the guidelines for ultra light aircraft, you dont need a pilots license for those. They are popular. Thats what this is being developed under. Now, lets see what it would be when it ultimately goes on sale. A lot of questions. More questions than answers at this point. Theres no doubt this is very cool video in terms of what the possibilities are, and i think a lot of people would say, look, if i can buy one of these for 10,000, id do it. A lot of people would do that. I can see you flying one. Yeah. Would be safer than me driving a regular car. So ive heard, yes. The question is, phil, is this even allowed . Any regulations . Dont we need our own new air Traffic Control . Understand with the way ultra light aircraft works, you can fly them, no pilots license, but the rules are such you fly them in very, very rural areas, not in suburbs or cities. Regulations dont allow that. Yeah. This is developed under those rules, lets say, ultimately, if they manufacture and sell it, what the rules and regulations would be. Quicker to get from cnbc headquarters to the new york stock exchange, thats for sure. Thank you. See you later. A New York Times report says other companies are working on it too, uber, the next frontier. It is. 34 minutes left in the trading session here. The dow up 233 points. Just joining us . This is a worldwide equity rally. Started in asia overnight, especially started with the euro on sunday. Yep. After the french leelections he and continues this afternoon. Coming up, ceos of express scripts and tmobile with instant reaction to earnings reports after the close tonight. The nasdaq has been on fire this year as tech stocks fuel the 6,000 level. Up next, whether there are still opportunities in the tech stocks for investing. The power of innovative thinking. The power of 100 of the