Lunch. Happy friday. Im melissa lee. As brian mentioned markets seemed to be shrugging off the weak jobs report and Geopolitical Uncertainty out there. Three major averages Holding Steady and all three in the green. We are watching oil rise to onemonth highs. Gold fivemonth highs following the u. S. Air strikes on syria. Movers were watching, dominos is down 4 , on pace for its worst day of the year. Dpz could see below consensus sales growth. The Cloud Company upgraded to an overweight from a neutral over jpmorgan. Tyler . Thank you very much, melissa. Im tyler mathisen. Welcome. Here is what else is happening on this busy news day. Republicanled senate today confirms neil gorsuch as the next Supreme Court justice. The move restores a conservative majority on the Nations Court and fills out the bench that had been a person short since the death of antonin scalia. At least three People Killed in central stock holm when a truck crashed into a store. Ent president xi jinping walking on the grounds of maralago. Certainly the most important foreign visitor thus far in President Trumps presidency and also coming at the same time that we saw syrian air strikes that surprised the world last night amidst this visit. Were going to wait and see what all the implications are of what happened last night, how it might affect xis thinking and his measure of donald trump he is pegs ly in the context of north korea. We have Kayla Tausche standing by live in palm beach for day two of President Trumps meeting with chinas xi jinping. Steve liesman with an update on the economy because of that bummer jobs report. Reporter thats an official economic term f. Maybe not a surprise if you think about the idea its right in line with weak economic quar. We got another sign of that today. Q1 gdp tracking 1. 4 . Its an estimate of seven. Mitsubishi at the high end. Goldman sacks, 1. 4 . And theres the atlanta fed, all the way down at 0. 6 growth for the First Quarter. And heres the data thats animating the forecast there. Just 98,000 against a forecast of 75,000. Average Hourly Earnings a modest 0. 2 gain. How does it fall to a tenyear low . Job growth is weak. The answer two different surveys that usually track together but sometimes they become disjointed. The survey of Companies Says 98,000 found jobs and a survey says 472,000 found jobs. The number of unemployed declined by 326,000. So a lot more commentary over there leading jeffires to say the data suggests the labor market is in far better shape than implied by the Establishment Survey and gives us a more accurate look. There were big job losses in retail and many economists think that foul march weather could have hurt places like construction. Some pretty good agreement, though, that a 4. 5 Unemployment Rate keeps the fed on track for a 25point basis hike. Bill dudley in a speech moments ago taking questions from the audience says he expects the Balance Sheet to decline late this year or early next year. He sees a gradual winddown. Remember there was a question as to whether or not its going to be gradual. He sees it as gradual. He sees something we talked about yesterday, a little pause a little pause, he said, in rate hikes when they begin to reduce that Balance Sheet. Steve, thank you very much. Well see you in a bit. Your big money question on this friday. Why arent stocks reacting more neglect it tifl to that fairly weak that bummer, that disappointing jobs number and also the air strikes in syria. Both good questions. Lets get answers. Chief Market Strategist with boston private, rob lutz, president and ceo with cabot wealth management. When the strikes happened, you immediately go and look at the futures. Were holding up pretty well despite the jobs number, despite the attacks in syria. Why . You know, i think its because of how trump handled the situation. First of all they sent sort of a headsup with tillerson and his comments yesterday. And then they reached out to the various allies and they gave them a headsup. And they even reached out to the russians and told them they thought something was going to be happening. I think the muted response by russia sort of gave the world and the markets a little bit of confidence that this may not be as bad as what was initially seen and how the markets or the futures were initially handling it. I think thats pretty much the main reason why the market is not overreacting to the news. What about the Underlying Health of the economy, rob . I get the jobs report was weaker than expected. Retail, though, really was the anchor trying to drag everything down. Do you think that what happened overnight is going to affect the things that should be moving stock prices, earnings, valuations, Economic Growth . So, yeah, brian. I think today you have to look at the markets and say there is a really Firm Foundation under this market. You still have relatively low Interest Rates, the monetary conditions are positive. Earnings are really growing at 9 this it last quarter, maybe 14 to 16 for the full year. You also have a psychology today and a pretty positive environment. I think investors are not really participating a great deal in this market, and theyre very skeptical. So were climbing that wall of worry. The only negative to todays valuation, thats in the sort of high category, so i put three of the four categories i look at very positive today, and i think markets are going higher. A true testament to a bull market is when bad news comes out and prices go to new highs and shrug off that data. And thats exactly what we saw this week. We had bombs drop and then we had a jobs report that was really weak and the market doesnt care. And the reason for that is we see a Strong Economy six to eight months down the road and investors like whats happening in washington. And that puts together a pretty good situation for equities today. Could it just could there be a it technical answer to this question, bob . That volatility the volatility index at current levels up about 2. 5 on the day, so still pretty low and certainly not even at the levels we saw at the beginning of april. That allows investors to hedge their positions, correct, for pretty cheap and remain long in this market despite all these wore jri worries. To that point i have seen some rotation out of some of the more early cyclicals, the ones that will be benefiting from the trump agenda. But they havent been completely getting out of this trump agenda trade. I think there is concern about the Federal Reserve and how they will unwind the Balance Sheet but thats these concerns about trump and the fed i think are sort of floating one and two. I think valuations are like three on the list and they can trade off between three and four. I think what youre probably going to see happening is the market really starting to Pay Attention to the First Quarter earnings season. It can take over the headlines and come in better than expected. Then we start to move forward and see maybe a rotation back into the early cyclicals. Got it, bob and rob, thank you. Chinese president xi jinpi jinpings facetoface meeting is wrapping up at maralago. The strikes in syria putting a different spin on the get together. Hi, kayla. Reporter hi, tyler. The leaders appeared cordial, congenial, polite when they were walking the grounds of maralago, Donald Trumps golf resort. President trump was pointing out appeared amused. This follows two dozen of their top lieutenants meeting in a bilateral meeting where President Trump for his part touted the progress of the relationship. I think we have made tremendous progress in our relationship with china. Meeting with their counterparts from china and truly progress has been made. As for the chinese delegation the comments by president xi were not translated by the press for the white house. Two rough translations who heard it, the president touted the warm welcome in palm beach, talk about the lines of communication and the importance of the u. S. china relationship on the global scale. There was no mention from either the u. S. Or china about the air strikes. Its unclear how china has been dealing with that development here on the ground and behindthescenes. We do have a little bit we can clean from an oped in a newspaper in china called the global times link ed to the communist Chinese Party and they write this overnight. Trumps decision to attack the Assad Government is a show of force from the u. S. President. He wants to prove that he dares to do what obama dared not. He wants to prove to the world he is no businessman president and he will use military force without hesitation. It believes the attack was made in haste given trumps prior position against attacking syria. They still support a u. S. Approach to syria but we will see what developments we have if there are briefings here in palm beach throughout the afternoon. Finally i want to show you a picture the press secretary tweeted of the room last night when the president was on the phone. And people have been trying to read the tea leaves. Theyre pointing out that gary cohn, the head of the National Economic council, thats not a role you would typically have in that room carrying out a military operations. Let the parlor games begin. Well let you know if we have any more news. Lets bring in it dan who served as a trade adviser to the Trump Campaign and the former sceo of newcorp. Great to have you with us. My pleasure. The eu slapped chinese steel imports with tariffs. Reported very angrily and then theres this New York Times article that when xi leaves the president is expected to sign an executive order essentially doing the same, antidumping tariffs. So, dan, whats your take on what that could do to the overall relationship . Is it important to maintain this positive momentum that seems to be coming out of the meeting, the outstanding relationship with china or sign once xi leaves . Its great everybody is saying nice things about the twoday meeting and everything was outstanding but here is the hard reality of it. The problems that exist between our two countries still remain and theyre serious whether it be International Property theft or trade cheat iing and dumpingf products, steel, aluminum and others. Its real and good they got together. We have a long way to go. And i think you wont read anything into it right now. Im pretty sure what was discussed was north korea and the strikes in syria, trade, im sure, came up. So trade takes a back receipt for now and how does that impact the momentum for the trade side of his agenda . I dont think it takes a back seat. I think its sill up there as a main part of his agenda. He made that promise to the American People and i believe the president will follow through on it. Certainly at this point in time in this twoday meeting while im sure trade came up and im sure there was some discussion of future opportunities to get together and resolve some of these issues it would be foolish to think they didnt focus on north korea and the president s action. Im sure the significance was not lost on the chinese or north koreans. Okay, dan, thank you. Appreciate it. Lets get to Jackie Deangelis for a news alert. Good afternoon, melissa. We are seeing oil prices come off a couple pennies after baker hughes came out with its weekly report. We went up ten oil rigs last week to 672. Thats up more than 300. This is the 12th straight week were seeing it increase here that would be bearish for oil prices. Not really having an impact today. That probably will continue here but these numbers are something to keep an eye on when you think about the supply and demand ballads. Geo politics. Thanks, jackie. Betting on the banks. The sector had a nice rally but is it about to get derailed . The banks havent even done as well as some had hoped by now. Should you get in or stay away . Thats still ahead. Air line jobs taking off. What kind of jobs and how much do they pay . We have where the jobs are segment. First, though, the latest on the u. S. Air strikes in syria. Where do we go from here . Welcome to holiday inn thank you wait, i have something for you making every stay a special stay. Holiday inn, smiles ahead. Whether for big meetings or little getaways, member always save more at holidayinn. Com welcome back to power lunch. Im Julia Boorstin with an update on twitter. Twitter has withdrawn its lawsuit filed yesterday over an antitrump account saying that the u. S. Has withdrawn its request for Background Information about an anonymous account. Yesterday twitter sued. Weve just learned they have withdrawn their filing because that request for information about that account has been withdrawn. Back over to you. Julia, thank you very much. Lets go to dom chu. Reporter on the heels of a bloomberg report saying a bid could be made by fresenius. Weve reached out to see if they have a comment. We have not heard back yet but we will monitor those akorn shares. Back over to you. Thanks very much, dom. A live picture of the u. N. Security Council Meeting going on. Nikki haley speaking. This meeting was called as a result of the u. S. Air strikes in syria. The Russian Ambassador to the up Unsecurity Council spoke earlier condemning what happened. He said these were illegitimate actions taken by the u. S. More responses to last nights missile attack are rolling in from all over the world. Canada, turkey, jordan, germany, france, saudi arabia, japan among others issuing statements of support of the move by president donald trump. European union says it understands the aim of those u. S. Missile strikes last night in syria, sees them as an effort to deter any more Chemical Attacks there. They also believe a political solution is the only way to end the war. In syria rebels fighting to oust the countrys leader Bashar Al Assad applauded this missile attack were showing on the air base saying, however, it cant be just a oneoff, that its not enough to stop government warplanes from hitting rebelheld areas. The attacks struck this airfield because the u. S. Believes it was used to launch a chemical weapons attack by the Syrian Government. The Syrian Government denies the attack. After the meeting concludes this afternoon there will likely be another meeting with the United States, the United Kingdom and france by bringing in russia and china they believe they might have enough power to resolve this conflict. Lets bring in richard murphy, former u. S. Ambassador to syria. Good to have you here. Thank you. President obama wanted to bomb the Syrian Government back in 2013. The whole world saw something very similar. Innocent civilians suffering dramatically, dying because of a chemical weapons attack people thought was conducted by the Syrian Government. The u. S. Public wasnt ready for it. Congress wasnt ready. The world wasnt ready. The world appears ready now. At least thats what it seems to me. Do you agree and why have things changed . I think the amount of time that has passed since the earlier effort to check out support for military action. Four years have passed and the ceasefires simply are not working. So why the president moved is, i believe, because the photographs, the coverage of the deaths of the children from chemical weapons motivated him to authorize what i think is a clearly limited operation. But it hit him on a human scale, and he felt he had to do something. Does this change anything really . I dont think it does change the basic policies of the United States towards the Syrian Crisis. It is an incredibly messy, complicated affair. As we can see today in the north of korea, the different factions forming, unforming themselves, getting together with apparent enemies and critics. Its totally disorganized. I dont think the president wants to get into the Syrian Crisis in a major way. But he was shocked by the action on the use of chemical weapons and there was a message also to moscow. You know, you have an influence over syria. Certainly. Why did this happen . It seems it was a message delivered and a punishment delivered for the attacks, but i take it you do not think this advances what apparently now is the american position and that is that assad must go. I dont think the United States is trying to get assad out by this attack. There seems to be it an assumption in the long run someone who has overseen such destruction in his country will not be able to rule. But were not pressing for that to get him out right now. And i think that putins reaction reflects some doubt on his part about american intentions. Hes very sensitive to american actions which appear aimed at regime change be it in syria or elsewhere. Ambassador murphy, thank you very much. Appreciate it. Coming up a contrarian call in retail. One analyst bets this retailer will regain its dominance in brick and mortar. We will name the name ahead. Last year, he sa