Markets in hong kong, united kingdom, germany and france all closed for easter monday. If you want to take a look at crude oil. Down by 44 cents. Wti looking like its trading at 52. 74. If you take a look at the currency markets, the florida is down. Dollar yen at 108. 28. The yield for the tenyear sitting at 2. 205 . A lot of things on the economic agenda today to think about in addition to geopolitics and whether youre willing to get 10,000 to get bump on a department that flight. Today, the National Association of Home Builders puts us its survey. Tomorrow and then wednesday, weve got the feds, facebook followed by the survey on friday. Friday, existing home sales. As for earning, heres what turns out. Nine dow compovnent and 63 s p 500 Companies Reporting this week. Netflix out for the day. Goldman sachs, morgan stanley. Other big names, united health, j j, ibm, travelers, verizon and ge. Also President Trump set to fill a key post. Randy quarles is expected to be named the feds vice chair. Quarles runs an Investment Firm in utah but was a Top Treasury Department official under president george bush. Created by and overseeing the u. S. Banks. Former fed governor dan tarullo has been the acting chair. Some on wall street did not like dan tarullo thinks he was too tough on it. Putting quarles there, its not like youre putting somebody who disapproves of the agency or any rules at all. Its probably a different way to enforce some of those rules. Right. But not somebody who is going to throw out every rule and say were starting from scratch. Right. Like putti ting gruden in che of the epa. Right. That was one of those things, dan tarullo knew where he stood. Also by the way, the other news in politico this morning, richard kwad dry is going to be pushed down. Go the easy way or the hard way. He said that he didnt make it quite as definitive, at least the reporting goes that he doesnt make it quite as definitive because it sounded like he wants to run for governor of ohio. Nice way out . Well, although theyre worried about making it much easier for him to run if they give him a lot of publicity by forcing him out, it sounds like. Here is the story that weve been watching for over a week at this point. United making a policy change. This is change is aimed to try and prevent incidents like the one that happened this week when a passenger david dao was forcibly moved to make room for a crew member. United is saying that crew members will have to check in 60 minutes prior to departure to make sure that incidents like this dont happen again. However, i dont believe it takes this long for a public change when somebody like delta doing what they should be doing in this situation, too. Ive been so fired up about this story. You have . Youve been on vacation. Ive been on vacation. Delta is changes its policy about bumping passengers off flights. The agency now authorized to offer 2,000 for voluntary boardings up from 800. In some case, delta has authorized agents up to 10,0000 for being bumped. Although they have the rules about the higher amounts including authorization from supervisors. We talked just to explain this, the 1350 cap is not really a cap, its a legal limit for the most the government requires the airs to pay before you involuntary if youre involuntary temporarily pushed no, if youre involuntarily pushed awe the plain, not voluntary. They could offer you 5,000 or amex points. The airline is overbooked. United has been particularly bad about overbooking they say they need to do that to make sure theyre profitable with people showing up. Theyre terrible about overbooking. Even if you look at Chris Christie laying out the case that united controls 70 of the takeoffs from newark so youre bound in these situations. United should be doing what dealt 25 is doing. Delta just took the steps that united should have taken based on what they saw happen in another airline. If you can go ahead and convince people if they want to get off the flight, great. Same story. If your entire message is that youre going to say okay, my fix is now that if were bumping you, we need to do it 60 minutes before hand so you never get on the plane and not on the plane but youre still involuntarily bumping people, if you offer 10,000, trust me, you will get people voluntarily giving up their seats. But those employees and those Airline Pilots dont get on that flight how many other people are going to be delayed . It doesnt matter. Pay for it. Its your problem for overbooking. As opposed to be dragging people dont be kicking them off. Heres my question. This was our dinner table discussion over the weekend, several dinners actually, how much does united have to pay the doctor to settle the case in advance, such that the public effectively turns against the doctor for not taking the money . The stories are piling up on united. Right. They dug into it with oscar munoz saying this is a belligerent passenger. I would have been belligerent, too. Is it 10 mr1 10 million, 2 million i woke up the night that the ceo put out the statement i was so mad. I was up from 3 00 to 5 00 in the morning just fuming about this. Thats insane that youre blaming the passenger in this situation. At what point does if an authority asks you to do something, whether its security and they ask me to move its not security. I want you off the flight because i need it for my employees. For the united employee, was it an air marshal or some deputyized agent he was belligerent because they made him belligerent. I mean, its so bad. The Customer Service. Hold on, i want your number. We all talked over the weekend, whats your number . This is going to become the issue because for united right now, they want to end this. They need to end this. They have done everything not to end this. The ceos response is what set this off the deep end. Im not the ceo i was on a united flight coming back on saturday. You know what i read, oscar munoz letter to the public that was already out there printed before this incident happened about how we fly the friendly skies, blah, blah, blah. By the way, i stuck by united when they kicked the girls off for wearing the leggings because they were supposed to be following the rules. The idea that this is a belligerent passenger, its not your employees fault. Its your stupid regulations that you still have not changed on this one. Or the married couple i believe going to costa rica. This is just the latest. They got booted off for going economy plus. This is not the united employees who are at fault. This is the united regulations that were followed. They followed the guidelines. Delta has just come up with a very reasonable change, an at kerrati alteration saying if its a bad situation, you can offer up to 2,000 and with an agent, 10,000. Videotaping this, its a horrific situation. Every step of the way, they compounded. If they asks for 10 mr10 milli for it. If he asks for 20 million, go for it. He was stupid our argument at the dinner table is 30. 30. I think hell get 10 to 15 in court. In court, a jury would give him 10 to 15. Ask for 30, theyll give him 25 . If you offer 30 and you dont take it then you look like enough united for now. Sorry, had to get that off my chest. Some breaking news last night, Vice President mike pence visiting the Demilitarized Zone between north and south korea. He said that any use of Nuclear Weapons by north korea will be met with an overwhelming response. Cnbcs shachery kang joining us from north korea. Reporter talking about the strategics with north korea so far. Thats when the key with the north korea policy with the Previous Administration in washington declaring that its over. This comes after north korea fired yet another missile on sunday. Yes, it failed, exploding seconds after the launch, but certainly succeeded in terms of getting the globe attention, and also getting u. S. President Donald Trumps tweets over the weekend. And one interesting tweet over the weekend coming from u. S. President donald trump was that emphasized chinas role in all of this. Talking about why would i call china a currency manipulator if theyre working with us on the north korea problem. We will see what happens. I think emphasis on chinas role in all of this is what sets the Trump Administration north korea policy from other administrations in the u. S. In the past. And here is a Vice President mike pence talking about how hes confident now that beijing will help out. Take a listen. Now, what issues like that remain, the president and i have great confidence that china will properly deal with north korea. But as President Trump made clear just a few short days ago, if china is unable to deal with north korea, the United States and our allies will. Reporter and this emphasis, of course, comes out of this understanding or belief that washington does need beijings help in putting pyongyang in check. Here is National Security adviser to the Trump Administration mcmaster speaking on abcs this week. Take a listen. Were going to rely on our allies like we always do. But were also going to have to rely on chinese leadership. North korea is very vulnerable to pressure from the chinese. 80 of north koreas trade comes from china. All of their Energy Requirements are fulfilled by china. Reporter and i think its sad, weve been seeing interesting reports or responses out of beijing in the last few days or so since the summit between the leaders of the United States and china in maralago, florida. Suspended flights, the only existing one between beijing and pyongyang by air china. And also return something coal imports from north korea back to north korea. And also suspended some tourism packages, basically blocking chinese tourism to north korea. So, was there some kind of a big deal between the two leaders in florida . That is the question. And how far is beijing willing to go and how well will kim jongun take all of this is the question, guys. Thank you very much. In the meantime, were going to talk moore about this weeks top political stories which so many are watching. Eamon javers. Heading into this week, gary cohen, the head of Economic Council for trump petrae. Hes say guy that worked for goldman sachs. And emerging as one of the top figures in the administration for 2017. A big reuters profile out for him yesterday. Take a look at some of gary cohns fingerprints. Others are down, and the signal that hes open to keeping janet yellen on at the federal reserve. That appears to be at the behest. And something that you just heard it plays into the g geopolitical situation as well. A couple other changes that gary cohn has had his stamp on, with abandoning ideas from the campaign trail. And politico is reporting as you guys mentioned earlier in the broadcast that gary cohn pushed to hold off on firing the head of the Consumer Protection bureau. And who subpoena, who is down, clearly cohn one of those who is up. Down would be steve bannon. And also up, jared kushner, thats the president s soninlaw who you see in that picture. Jared kushner is somebody as a ascendent in the picture here as well and he was mocked on saturday night live, although saturday night live does have insbiegt wigh insight. Of course, jared played by jimmy fallon. With the jacket and sunglasses on there. And steve bannon there was the skeleton there. When it comes to tax issue or tax reform now thinking about Health Care Reform all over again. I know he keeps intimating that he thinks Health Care Reform is something thats happening first. I thought it was off the table, on the table, where is it on the table right now . To be honest with you i was off last week so i dont have up to the minute reporting on this clearly, this is an administration that doesnt want to completely let health care go. One of the essentials is that obamacare was a disaster. They fought on the first go around on this. The question are these dynamics that block the deal and removable object. Is there some deal they can cut that could allow them to say that theyve repealed obamacare. That is very difficult politics as they found out the first time around. They dont seem to be able to totally walk away from it. Its not clear where all of that is going. Eamon javers, great to see you, my friend. Lets get to the markets this monday morning. The dow and s p 500 coming off their first trading day in three weeks. Joining us now the head of short Term Investment opportunities at ubs management. And also the Portfolio Manager at fed rated. And the cnbc contributor. Todd, where do you think we stand right now, just in terms of the momentum, and what the most likely path is from here. Sure, i think the sentiment has clearly shifted, i move to one long holding, the rest is very defensive. Its been that way for a couple weeks now. As you guys know im a shortterm trader. I can change that in a dime. We were having a nice discussion in the green room become for now, sigh thinow sh now, i think theres way too many macro fees. With gold up, gold down. Thats been the case in the last couple weeks but in the last couple months even through plate 2016. The one technical thing ill throw out to you we just lost the moving day average which is basically a twomonth average price. We have done that two times since 2016. That equates to a 63day period of consolidation. Were only in day three. We just lost the 50day after the extended period of time. I think for the next coming of months. Do you agree with that . Most likely, yes. Very positive macro globally. But the politics are ugly. I think when you juxtapose this, you end up in the scenario he just described. So a little more hesitant, not leading so much with your trade . Well, you can pick up the downside if traders are moving on both side. I think defense cash. Bombs are moving up. Does that mean that earnings are going to be lousy . I think earnings are better than we thought or is that a black swan drive . I dont think thats the drive here. I think its all about trump, the first 100 days theres so much built into that rally. All of a sudden, the challenges of reality is hitting him, yeah. Steve what do you think. I think its interesting when you go back to the beginning of the year theres so many optimism around the trump agenda. Euphoria turns into rallieealit. Weve gotten that. Weve reached the point where markets are getting interesting again. Meaning, you think its time for a buy . Yeah, earning season, we had a good start with the earnings season. We do think health care is going to come back on the agenda. We think thats to pay for instead of the bat. And following an overall scenario. We think that some of the blues in late march and early april could turn to optimism starting against once Congress Returns from their recess. I know you have the opinion that there are better opportunities in other places. Thats right. But mark grant had a really interesting note this week when he kind of laid out the days against europe. Hes very concerned about the vote in france, what happens there. And if there are other countries that might split away from the eu. Yes, barring the french rule which is rule running, the polls are basically saying its not le pen, its melenchon. Thats truly extreme. Away from that there is more value there and if the macro scenario across the world improves europe is well placed to benefit from that. Yes, with opportunity comes risk. So it will be more volatile it usually is. His concern was not only the french election, he took a look at greece where he thinks greece will either choose to leave or be forced out. If you have italy decide to make a decision like that, then the entire eu splinters then youre talking about Serious Problems cropping up all over the place. This situation becomes much worse if growth is worse. If growth is better, people are happy. People dont vote for these parties you know, people are saying something. Across the world, when they vote for parties like this, theyre contesting. Thats a very strong focus, though. Its shown up in a lot of elections. Thats true. From the markets perspective, the underperformance of the european stock market is dramatic. So this is very much a valued pickup play thats dependent on a lot of fundamental forces f l falling in place. One you have to was that is japan. Japan keeps falling but the earnings picture in japan is really very positive. Thats why the reality, with the way the market is trading is very conflicting. With the inflationary pressures, you cant ignore that no . Well, the same story. The risk aversion is driving the yen up. Right. Guys, well leave it there. Thank you for coming in. Todd is with us for the rest of the hour. Coming up, earnings alert. Netflix set to report right after the closing bell. We take a look at the original content and whether its going to transcribe into stronger growth. Squawk box continues in just a moment. I joined the army in july of 98. Our 18 year old was in an accident. When i call usaa it was that voice asking me, is your daughter ok . Thats where i felt relief. Were the rivera family, and we will be with usaa for life. Its not just a car, its your daily treat. Go ahead, spoil yourself. The es and es hybrid. Experience amazing. Early risers in times square hanging out with the squawk gang. Joining us the senior median internet analyst. Hes going to tell us what to watch for ahead of the companys First Quarter report. Whats going on . Whats going on . Whats going to happen here . We have proprietary research that shows that app data is going to be strong. Particularly in market where is netflix has been for at least three years. Hold on. I got to stop you when you have proprietary data. Where are you getting the data from . We work with a third party. Its a loose proxy. But basically what youre seeing netflix is doing more and more of its marketing, more of its signons coming from the apple store and those are attractive. Does that mean theyre giving up more than a third. Sub . It can mean that. We dont know if its a full third. It can be beneficial to netflix a