Similar big gains. Big. The dax in germany, the cac in france, up by 1. 5 . The ftse is up close to 1 . Look at the dollar. You will see in currency markets just focusing on whats happening with the dollar. The dollar is up across the board. Euro at 1. 0541. The dollar yen at 113. 62. Interest rates finally went up. 2. 42. Up from 2. 35 yesterday. 2. 42, were calling that up. Good to see someone making europe great again. You know, sara eisen told me we should focus the show on the peso. Thats not a bad idea. It is interesting, even europe. Those are big gains in europe. Lets get caught up on some of the big corporate stories. Snap inc. Expected to have the ipo after the close today. The Company Targeting a 17 to 18 range, valuing the company at 25 billion. Separately the Company Reportedly developing a drone. The New York Times saying the drone would be used to take puck chores and video. Youtube planning to launch a Live Tv Streaming Service featuring broadcast news and cable channels. This is all in a bid to attract cord cutters. Youtube tv will cost 35 a month for six accounts. The lineup includes nbc, cbs, abc, fox, espn. Subscribers can also watch original movies and shows from youtubes red channel. Cord cutting is, i would argue, beginning in earnest today. Directv now is one of the first efforts at a true sort of skinny bundle. You saw the number yesterday. What is it . A billion hours, people are watching youtube a billion hours a day. Amazing. That shows you theres a difference between young people and i dont think i watch a minute of youtube. Maybe maybe i dont you dont know. It doesnt come close to the number of times i have my box, my cable i think its more the cord nevers rather than cord cutters. Did you see these crazy snapchat selfies. Theyre doing things that end up with them dying. Like yesterday what . A guy in asia. He said watch this. I will put it on snapchat. He got his friend with a girlfriend or refriend. He was at a mall. You know how you look down, a lot of times you see structures there. Ill jump on to that structure. Get me on video doing this. No. But theyre not concrete. Theyre made of like it crumbled under him. That was it for him. Snapchat is dangerous. People dry from trying to take selfies every year. Walk off the back of a cliff. Afrnl a little further back. Be careful watching youtube. My dog ears. The rainbow mouth. Stick out my tongue. You know, tomorrow we should get those filters put on to us throughout the show. I claim cat ears. Do that or wear a jacket. On todays economic agenda, personal income, february personal income and spending at 8 30 a. M. Eastern time. That will be followed by the ism Manufacturing Index and Construction Spending at 10 00 a. M. The fed also releases its monthly beige book report which tracks regional conditions at 2 00 p. M. Automakers reporting february Sales Numbers throughout the day and more fed speak to look forward to dallas fed president , rob kaplan and fed governor lael brainard. Best buy, dollar tree and mylan labs report earnings before the opening bell. Coming up after the bell, broadcom, box and shake shack. Earnings just came out from lowes. The lowes that its the only one we still see a lot. The one like home depot. Profit of 86 cents a share. 7 cents above estimates. Revenue also above forecast. Samestore sales increased by 5. 1 . Lowes was predicting fullyear earnings of 5. 64 a share compared to 5. 53. That report was well received. Stock under 75 when that happened. Now 77. 50. Our top story this morning, President Trump with an optimistic tone during his speech to congress. Eamon javers has more. Strikingly different tone last night in this event yaw that felt like a state of a union, much different from the inaugural where he talked about carnage. On trade, some white house officials gave me some guidance early in the day that he would talk about Harley Davidson, a model for american trade. He did do that in the speech last night. Heres what he had to say. He talked about meeting with these Harley Davidson executives and some complaints that he heard from them. They told me without even complaining, because they have been so mistreated for so long, that they have become used to it. That its very hard to do business with other countries because they tax our goods at such a high rate. They said in the case of another country, they taxed their motorcycles at 100 . They werent even asking for a change. But i am. That Harley Davidson moment was one of the few moments where the president went off tell prompter. He told an aside saying they brought the Harley Davidsons to the white house and tried to get him to ride one, but he didnt want to. Other than that, this president stuck to the script including on trade where he talked about competition from foreign countries. Currently when we ship products out of america, many other countries make us pay very high tariffs and taxes. But when Foreign Companies ship their products into america, we charge them nothing or almost nothing. I believe strongly in free trade. But it also has to be fair trade. Its been a long time since we had fair trade. Guys, waking up at the white house this morning there are a number of staffers who will feel this was the president s best moment so far of his presidency. And will feel this gives him some political room now to begin a more legislative phase of his presidency. Hes been relying on executive orders and speeches, now theyre positioning him to move with congress on some major pieces of legislation, really ambitious agenda for the president. Not a lot of policy specifics, but clearing the table for a legislative push this spring. Immigration was interesting. Maybe there was more we thought before the speech we thought there was more coming. The president had lunch with a bunch of television anchors, as those anchors emerged, we saw comments from a Senior Administration or maybe the Senior Administration official is the way you should describe those leaks, talking about immigration, talking about the possibility of an immigration bill. Last night the president sort of seemed to back away from whatever the Senior Administration had been saying. But he did talk about a meritbased approach to immigration, which is an interesting approach. But that would add yet another massive legislative push to his agenda. Theyre at risk of overloading congresss circuits. Would be amazing. Awesome conjecture about what that would mean. With the position he staked out to say lets compromise on this and give dreamers a path, people the ability to stay, maybe not citizenship, some people are likening that to nixon. The most antichina president ever. And then he decides to visit china. Does that and opens it up. He made comments in the past about dreamers. Hes been sympathetic to the dreamers. Those are the children who came in with their parents to the United States through no fault of their own and have grown up here and think of themselves as americans, and who could be kicked out by a massive immigration push. The president has been sympathetic to those people. He has that rhetoric in the speech, even as he has guests in the audience who are victims of crime committed by immigrants. Hes sending both messages at one. That could be a savvy political decision. Well have to wait and see. Reporter the legislative push goes from here. Interesting to see the evolution, too. Trump has always been a big guy, 63, commanding of a room. And you can see how he works a room. But president obama, when he came into office, he to me, he is good looking guy, Everything Else. But over the eight years he became really president obama. The power of the office right. And people say that wont happen to President Trump you see that setting. It started last night. Dont you think it started last night . I think it started last night. To the chagrin of all those people in white and people that wouldnt stand. People who looked like they had indigestion and Everything Else. It was absolutely donald trump in a more classic president ial mode than weve seen from him before. We also saw him hold back from some complaints and attacks on the media. We saw the president in more of the healer in chief mode. The i feel your pain president. Particularly in that moment with karen owens, the wife of the navy s. E. A. L. Recently killed in that raid. That was an emotional moment that resonated with a lot of people around the country. And the young lady at notre dame. That is maybe why futures are up, stepping in the futures are up because everybody said they couldnt be up. Everyone looking for a shock moment, they didnt see it. Andrew, youll like this. When he said no more time for small issues, and were not going to fight these small these little battles. Talked about trivial fights. I was looking for checking the twitter feed this morning. Seeing if there was anything on there. Thats my question. Not being too skeptical or cynical. I thought the same thing. I thought it was a great speech. The question was is this a pivot forever . No. Or just one night, well have twitter in the next 48 hours that will rile people all up again. I dont want those to go away completely. Its 6 12 a. M. I dont think weve seen a tweet yet from the president. I think theyll ride this for a while. The interesting thing is to see how the president responds to this. We know hes a man who reads his reviews carefully. This will be a speech that gets a lot of good reviews across the media and around the world. Will he take that feedback and say he could tweet out a couple pictures of Debbie Wasserman shultz. There was one slightly mean moment in the speech. This is a president who loves to insult the opposition and call somebody a clown. Which they would never do. There was one moment where he talked about obamacare being a disaster and stuck his hand to nancy pelosi and gestured to her as if it is her fault. There was a you saw this, too. People what was that . They looked like a cult. What was that, all the people in white . It was a protest of donald trump on womens white issues. A shout out to the suffrages. Okay. Thats good. I thought they were going to start singing. I thought they were going to they looked like a choir. It was a typical seesaw. Real quick, you said you thought this speech would be applauded globally. One of the most interesting comments he made this comment before. Its different to hear it last night for some reason. He doesnt want to be the president for the world. The question i wondered was whether that gives up our standing in terms of not really being the president for the world but perhaps the role model for the world and what that means. This is also a president who gave his full endorsement of nato last night and encouraged nato members to pay their dues. He is reaching out to nato, to the u. S. Allies around the world and saying were with you, but we need you to stand up. Thats a mixed message as well. The reason i say globalglobally turned the rhetorical volume down a bit. Thats the piece that will appeal to people around the world. For many people that was a great moment. Im not here to i get it. Instead of the pillars in germany. I will stop the seas from rising. You dont know how many people around the world wanted the american president to be the president of the world. A lot of people dont want that. And they are nationalistic in places as well. We have to look out for number one. Thanks, eamon. For more on President Trumps first address to congress, lets bring in evan bayh, former u. S. Senator and governor of indiana. And judd gregg, former governor of New Hampshire and senator. You guys are not tie in being skeptical of trump, but youre not a full throated endorser of trump, judd. Are you more today . Well get to evan in a sechblgt hes a democrat. Youre taking up the republican side today. Do you want to defer on that . What did you think last night . I thought it was an exceptional speech. I think you folks talked about it already. The white house seems to be agreeing with him. Hes turning president ial. This could be a pivotalible event for him. He could be moving in the direction of leading as a president versus up until now getting into what he defined himself as trivial events and moving on to the big issues of getting this country moving again. And how as a president he gives us a purpose and direction and defines our causes as a nation. I thought the speech hit on all cylinders last night. I was impressed. His tone was impressive. The substance was also impressive. Im upbeat about it as an american. Not just as a republican. You were from the showme state. When you have come on you wanted i like how you said that. Fehr finally listening to you. Thats not your house behind you were not in your house. No im not in my house. Im in a studio. Its a nice studio. You know why i ask . If you were, i was going to ask for mrs. Gregg to come on. She would come on and say you are a brilliant individual who she follows so closely. She thinks youre a lefty. Thats a fantastic back drop. You can get some eggs and milk . Waffles with maple syrup. If you have vermont maple syrup. Please. Okay. Senator governor bayh, i dont expect to you come out throwing flames either. I dont expect it to be like Chuck Schumer who said we have given him his chance. Now its over. Now its over. I dont know what that means. Theyve already given him his chance . Now forget about it . I missed that. When did they give trump the chance . These have been a contentious five weeks. The president did very well last night. I agree with judd on that. The speech was well written, well delivers. Unusually conciliatory. Now the democrats need to seize this moment and see whether last night was the real donald trump and can seek message discipline and common ground, or whether he gets distracted. He needs to maintain also a night and get into details, because as judd would agree, a lot of tough decisions coming up on the obama care replacement and taxes. He needs to exercise leadership on that. You said if he stays like this if this is the new trump and he stays like this, youre telling me the democrats will work with him . On some things. On some things not. Regrettably our politics is polarized now. Theres an opportunity for bipartisanship on tax reform. Repatriation of profits. Getting the corporate rate down. When george bush had his tax cuts, things were more polar sized than now, but there was an opportunity there. Theres an opportunity to bring the stranded profits overseas back home. Invest in infrastructure. I think the obama care thing will be much more difficult and it will be unfortunate that that is coming first because theres going to be a lot of blood on the floor about that. The president judd was a governor, i was a governor, you cant micro manage but its important to step in and say, listen, heres what we need to do. It can get done but the president needs to say tough choices. Heres the one i favor, follow me. Some of the hardest applause and stomping and Everything Else was repeal and replace. People in that room obviously on the republican side want that done. Can it be done without setting the republicans up for a fall in 2018 because every Single Person that loses coverage will be on nightly news every night. Youre right about that. There will be a lot of sad stories. All you need is one. They do that for a month. But every individual will be covered as if theyre typical of everyone. I think evan is also right. This is an issue that the republicans cant expect assistance from the democrats on. Theyll have to republicans have to do it themselves. There are ways to replace obama care which can be constructive. We can deliver Higher Quality care in this country at a lower cost if we follow a few basic rules of Getting Better health care. The president s system is collapsing. Had Hillary Clinton been elected, she would have the same problem that trump will have, which is that obamacare doesnt work. It has to be substantively changed. The republicans have an opportunity to change it, but they have to do it on their own. They cant expect much democratic support. Evan is right, there is ground for bipartisan assistance in the area of tax reform which is where we should be going. That will get the economy moving very fast. Gentlemen, you swear thats not your house, judd . Youre allowed to have a nice house. Bernie sanders has, like, a lakehouse. I didnt think he had any money. Im thinking of moving into this studio, making this our residence. I like that couch. I want to park on that couch. Watch squawk box. Thank you both senator governors. Dont even call us if you dont have both. When we come back, lawmakers reacting to President Trumps address tonight. We will be joined by congressman andy barr, senator purdue and others. First, lowes out with quarterly results. Well dig through the numbers. The stock up 5 . Squawk box will be right back. Welcome back to squawk box. Lowes just out with quarterly results. Profit of 86 cents per share, 7 cents above estimates. Calling in now is brian nagel. Good morning to you. Top line, your headline, if you will. Good morning. The headline is this is a good quarter from lowes. Really good quarter. Usually we have this conversation where home depot blows it out, lowes doesnt do it. We wonder is there an operational issue. Is this one of those quarters where you say maybe things are turning . Possibly. I guess the way to think about that, the gap between lowes the results lowes reported today and those that home depot reported a week or so ago narrowed. On wall street we always look at this, probably too much. Is that an operational story or are we now just saying maybe something is going on in the economy and this is a larger signal about whats happening. Its probably both. Lows had a big Analyst Meeting late last year. They talked about refocusing on improving productivity. Since that time they made Management Changes and other changes in the business. I think