They were down yesterday on the weakness on the dollar. You can see this morning theyre back up by 1. 5 . Wti sitting just below 39. U. S. Crude stockpiles grew last week by 2. 6 Million Barrels. Thats less than the 3. 3 Million Barrels analysts had expected. A couple big stories this morning. The economical dar. A lot going on. Were going to get an early read today on fridays job numbers. Economists expecting an increase of 200,000 private sector jobs for march. Following that data, chicago fed president Charles Evans is going to join us here on the set in a cnbc exclusive interview. Also, an update on the fight between apple and the fbi. It aint over yet. A california judge has officially vacated the order asking apple to assist the fbi in hacking into that iphone of the San Bernardino terrorist. Nbc now reporting an Israeli Company is the firm that provided the tool. The fbi now owns proprietary rights to the method used to get into that device. Also reports out that they signed a contract with the fbi for 15 million. There are now questions of whether they actually have the source code for apple, which creates other questions and exactly what this tool is that theyve now provided the government. Apple is saying, please, tell us how you did it. The government is saying, not yet. Also, the man who hijacked an egyptair flight yesterday appeared in a cyprus courtroom today. The 59yearold egyptian surrendered peacefully after diverting that flight to cyprus and holding pag ing passengers members hostage with a fake explosive belt. Authorities e described the hijacking as a family feud with his exwife. On the cover of the post too. Whos the guy that the got the selfie . A hostage . Selfie with the idiot. Thats the dude right there, i think. Over here. Camera right, camera left. Anyway, thats him with the fake explosive belt. Some stocks to watch today, boeing planning to cut about 4500 jobs by mid year. Most of the cuts will come in its commercial airplane division. The rest from a unit that conducts flight and lab tests. Boeing will use a combination of voluntary layoffs and by leaving open some positions leaving them unfilled. And Taiwans Foxconn has agreed to buy sharp, but its cutting its original offer, following a month of talks about the potential liabilities that raised concerns about the deal. This marks the largest acquisition by a Foreign Company in japans tech industry. Shares of takata falling nearly 20 today in japan. Reports say the auto parts supplier could face up to 24 billion in costs to recall its air bag inflators in the worstcase scenario. That would far exceed estimates that had been 3. 5 billion if its found to be liable for the defective parts that have been recalled so far. Lets get one more check on the futures this morning. As we showed you, there are some strong gains this morning with the dow futures up by about 98 points above fair value. S p futures up by 11 1 2. The nasdaq up by 28 after the fed yesterday or at least janet yellen made it look like the fed would not be moving any time soon. Talked a lot about concerns and things that could disrupt the economy if you want to see whats been happening in the treasury market, take a look. The tenyear note looks to be yielding 1. 84 . The yield has come back down. The dollar yesterday was incredibly weak after janet yellen spoke. You can see its now sitting versus the euro at 1. 1318. Dollar yen is at 113. The pounds is at 1. 4391. Gold prices, finally. Up barely, 1,237. We now know whos in charge, at least, at the fed. I know youre familiar with i mean, shes in charge, right . Shes in charge. We have five guys saying we need to raise rates. The market does nothing for a week and a half and is stalled. The minute she says i mean, that was really dovish. Remember the piece that said there was no division on the board. She told those guys to get in line. Theres division, but theres someone calling the shots. Its totally warped. Europe surging. Anybody anywhere in the world thats easy, any bankers promoting easy policies will rally here based on japan. Weve seen this happen before. Its oftentimes been a day or two blip. Not a straight line. You saw the chart yesterday. Unmistakable. The minute she said were going to look globally at the possibility which basically means she cant raise rates until the bank of japan and ecb come out of negative Interest Rates. Thats a problem. Someone yesterday was writing in you can use that for putting toothpaste back in a tube. I like uh unskrmable an egg. Thats a good one. Some others that arent for air. Anyway, we have two guys here that know so much about this. We scoured our guest list to find the two greatest guests to talk about janet yellen and the fed. The dow and the s p 500 closed at the highest levels of the year. Lets get more on the markets and the economy. Were joined by the chief Investment Officer of concentrated u. S. Growth at ab. And covering the economic angle, michael gapin. You have beautiful eyes. I know ive told you that before. Chief u. S. Economist at barclays. Theyre like steel blue. Is it hereditary . My mother, yes. Do you thank her . I do. Okay. You still expect june and two rate increases. Maybe it will be cuts by the time they come. But june and when is the next one . December. Thats still going to happen . I think risks are skewed to one and maybe even later. Were still saying june and december. As you mentioned, it was a dovish tone yesterday. Its not entirely clear that all of the stars would align for her to be ready to move in june. Do they plan that . In the past, ive seen good cop, bad cop type stuff at the fed. These other guys really think we should go and she really is more dovish . Yes. So i think what you said in the lead is exactly right. When theres a division on the committee, the chair has to exert the leadership role, whether you agree with it or not. She decided and that was the message yesterday. Like i said, im familiar with that. Its not a democracy. As a married man, you say . I wasnt mentioning that. In my home, its not. Its not a democracy . Nope. Im like a serf. What do you think . If you look at the u. S. Economy, the u. S. Economy is okay. That would argue we should go and rates should be higher. I think when you look at the dollar, the dollar was so darn strong over the last year or two, and thats problematic for the u. S. Economy and the Global Economy. So i think yerl season trying to balance both of those. We were 108. Were 113 again. The dollar hasnt been a factor. It would have been a great time to be raising rates, i would think. I think its at 1. 13 because weve pushed it out. Dmpbl did that Market Reaction yesterday make sense . I think it did. Ing with ities should be higher. Even with a below 2 growth rate again in this quarter now forecast. I think when you look past the first half of this year, you get into much stronger Earnings Growth in the second half. Then again much stronger growth in 2017. Not gdp growth . Gdp is going to be in the 2 range. That would be above where we are in the Fourth Quarter. It would be. You think were going to do 2 1 2 . 2 to 2 1 2 is reasonable. The second half story would be to say that manufacturing has to stabilize somewhere. Trade has to stabilize somewhere. Twoish now. Then maybe closer to 2 1 2 in the second half of the year. I think thats reasonable, something more than that would be difficult. Is it something were doing here, holding us back, or in a world reich thlike this, were get to i think were lucky to do 2 1 2. Heck, look at 3m. Its a great company. They looked a the a fiveyear forecast of 2 to 5 organic growth. Its just a tough world out there. It might be as simple as if weve got major areas of europe with negative rates and asia with negative rates, it just seems like you cant really be going the opposite direction. But is that really what the fed is supposed to be focused on . Is inflation now above you know, is it at a point where we should be higher than where we are . Were looking at the rest of the world and basing it off that, yet were missing maybe inflationary expectations rising here. Were certainly getting to that point. You look at wage inflation. Thats ticking up. Some of the minimum wage legislation in california and soon to be new york is just going to push things higher. I think in isolation the u. S. Should be higher, but you have to look at this from a global perspective. Can you have the worst of both worlds where the Global Economy is holding you back and you can still get hit with inflation internally . Is it just a different world right now . Absolutely. I think thats what you want. I think thats the point right now. What she said was, okay, weve had some improvement in core goods prices. Im not sure if thats durable. What they need is to see labor markets tighten a bit more. Participation rates going up. Thats her panacea. Thats what shes wanted for years, a stronger economy to induce participation. Its really going to be tough for her to be aggressive on the rate hike front as long as the Participation Rate is ticking higher. Yeah, but its still our guest host for two hours is going to say that the real Unemployment Rate is like high fives, not high fours. Based on, you know, temporary jobs and just all the other right. We dont see the Participation Rate rising steadily over time. I still think flat to a little lower. You think were at the real 4. 9 . If it was, we should definitely be above 35 whatever. Theres always a little bit of cyclical mismeasurement in the Unemployment Rate. This isnt a new story. No matter where you are in the cycle, its never a perfect measure. I think were close enough to full employment where you can declare victory on that front. Theres some slack but not a tremendous amount. So a stable rate environment and better earnings in the second half. I think everybody has been so focused on 120 of index earnings. Lets dream a little bit. Lets look forward and say 130, 135 next year and a 17 multiple. That gets you 2300. Versus 2050, thats upside. People are tweeting ive never mentioned your beautiful eyes. Thats implied. What about my eyes . Your eyes im still trying to figure out. Its that cool thing. The guy from walking dead wants your wants that. He thought that was the coolest thing. I remember that. Michael shay htrahan is runnn a beach with his girlfriend. Know what his girlfriends name is . Kayla quick. Its like a hybrid. But they look alike . They dont look anything alike. Shes running in a bikini. I dont know. Anyway. Which is a nice segue to politics this morning. Making headlines at a town hall event last night. John harwood joins us now. More on what took place. Brave of you, andrew. Dont know how big the audience was for that. Theyre usually not quite as big as the debates. No big bombshells in the town halls with the three republican candidates. Cruz, trump, and kasich. Donald trump defended his Campaign Manager against charges from the Jupiter Police department that he had committed battery on a reporter. He also defended himself for the exchanges hes had recently with ted cruz over each mans wives. Take a listen. I thought it was a nice picture of heidi. I thought it was fine. Shes a pretty woman. Come on. Youre running for president of the United States. Excuse me. I didnt start it. Sir, with all due respect, thats the argument of a 5yearold. No, its not. The argument of a 5yearold is he started it. You would say that. Thats the problem with our country. Thats the problem with our country. Among other problems for the republican party, donald trump did not reiterate his pledge, which he signed earlier in the campaign to support the republican nominee if its not him. For their part, ted cruz and john kasich did not commit to supporting donald trump if hes the republican nominee. So this muddle is going to go on. We have the next contest a week from now in wisconsin. Thats going to say a lot, guys, about whether or not donald trump can stay on the path to getting 1237 at convention maurchty. That to me was the headline. I was fascinated by how they approached that question when they all did agree originally that they would support the nominee. And then for them to say they wouldnt. I thought that cruz kind of did. He sort of hemmed and hawed, went back and forth about it. I thought trump was explicit. He basically said i wont. But hes in a position where hes leading. He didnt say i wont. He said i wont commit to supporting. The question was, are you bound by that pledge . He said, no, im not. Weve been making the point. Ive made it like ten times to republican establishment types. Did you not hear because theyre all trying to take it away from trump. They never thought trump would get very far. So they all signed it. All of the sudden hes leading and theyre the ones that are like, whoa, we got to stop this. Theres a stop trump movement. Theres super pacs. Theyre meeting in sea island. He just said he didnt start it. He didnt start this either. They started by not, you know, deciding not to support him. At this point, if i were trump, i would do the same thing based on saying theyre not going to support him if hes the nominee. Well, look, guys, the rubber hits the road when we have a nominee. We dont have one. Its easy at the beginning of the process to make a pledge when youre courting all republicans to say, of course im going to support the republican nominee. Republican voters think thats great. But when you get to the end of the process and you either have a Convention Vote and somebody is bound on the first ballot, and if youre john kasich, you say, do i get behind this guy. Then hes got a decision to make. If you have a convention fight and ted cruz somehow is able to overcome donald trump by getting supporters from marco rubio and john kasich on a second ballot, then donald trump faces the decision. I do think that given the contours of the race, its more likely that donald trump is the one who takes his marbles and goes, runs third party if he doesnt get it. Then the republicans have a real problem. But were in the abstract phase right now. This summer well find out. Kasich will not. We had two people on the other day kasich will not what . Support trump. But cruz always has sort of been doesnt want to alienate the base that trump has. With the wives thing, he pointed and said youre a sniveling coward. We had two people on the other day, i think one was a cruz supporter, one was trump. Kelly ann conway. They said theres still hope for a trump cruz ticket. They said can that happen now with all this acrimony . I wouldnt doubt it in current politics. Just like ben carson said after he dropped out. Oh, yeah, donald said that stuff, but i didnt take it seriously. I agree with you. People say a lot of stuff. I think ted cruz is quite possible as a running mate for donald trump. Some people talk about a trump kasich ticket. Im not sure john kasich would do that, but if it does, then weve answered the question. What happened to your word is your bond . Oh, come on, man. This is politics. Everyone just straight up lies and thats okay . Hes pretending. No, im not pretending. I dont understand this. Poor naive andrew is so confu confused. Are you really that innocent, honey . Yes, innocent and naive. Its terrible. Joe . Yeah, go ahead, john. Andrew is play acting with us. Dont take that. Come on. Absolutely. All right. Different question. Hes not even denying it. No, i am denying it. An open letter to trump voters from his top former strategist turned defector. Did you see this thing online . Yeah. What do you make of that . She said that she got involved in the campaign with him a year ago. Oh, this was a different one. The idea he never wanted to win, he wanted to always be what he called a protest vote, that her goal she was assigned to make sure he was number two in the polls. The goal was never even to be number one. Its fascinating reading. Did you get a chance to read this thing . I saw it making the sort of twittersphere overnight. Look, this is a break the mold, unusual candidate who has an unusual cadre of people around him. The saga around roger stone and sam nunburg. This is not the normal set of political players, so youre going to get people saying things that are crazy or way outside the norm of what weve expected. The idea that somebody would run for president not wanting to win is not something that weve seen before. Now, i must say, there are a lot of people, including me, who thought that donald trump was not as serious as hes turned out to be. Fair enough. But the idea that a candidate would enter the race plotting not to be the actually winner is something we just havent seen before. Hillary Bernie Sanders, he better tone it down if he wants to have another debate with me. Better be nicer. Hes saying bad stuff about me. Im not going to debate a guy saying bad stuff. Thats the most ridiculous you know what it is . Its ropeadope. Shes going to win. When youre a front runner with a big lead, you can set the terms. Right. John, great to see you. You bet. When we come back, Technology Stocks outperforming the broader s p. We have an analyst to take a closer look at some of the winners and losers in the sector. Later today, a cnbc exclusive interview with former Lehman Brothers cfo erin callan. Shell be talking about her new memoir full circle, a memoir of leaning in too far and the journey back. Thats today at 3 00 p. M. On the closing bell. Ests and as a vested investor in vests, i invest with e trade, where investors can investigate and invest in vests. Or not in vests. This is my retirement. Retiring retired tires. And i never get tired of it. Are you entirely prepared to retire . Plan your never tiring retiring retired tires retirement with e trade. Plan ygreat time for a retiring retireshiny floor wax, no . Not if you just put the finishing touches on your latest masterpiece. Timings important. Comcast business knows that. Thats why you can schedule an installation at a time that works for you. Even late at night, or on the weekend, if thats what you need. Because you have enough to worry about. I did not see that coming. Dont deal with disruptions. Get Better Internet installed on your schedule. Comcast business. Built for business. Quarterly numbers just out from lululemon, reporting a profit of 85 cents per share. Same store sales rose 5 . However,