Employment data coming in just short of expectations. The dow starting from its highest level of the year. It was the moment that stopped all trading here on the nyse floor and you saw it only on cnbc. The fiery debate over are the markets rigged. Now boiling over into larger, more heated battles. General motors Ceo Mary Barra back on the hill answering questions from the Senate Subcommittee and well bring you the highlights when it begins a little over an hour from now. And Amazon Holding a big press event promising an update on the video business and well tell you what it could be and bring you all of that action live. Well start with an economic report from adp, shows 191,000 private sector jobs were added in march. The numbers coming ahead of fridays big jobs number and, of course, the morning after the s p hit a new record high. We continue to look for clues, guys, that march, in fact, was a thaw of sorts and this number didnt exactly let us down. No. But i keep coming back to those auto numbers yesterday. I mean, 16. 4 million, gm up rather shockingly given the fact that toyota and a similar negative recall was down 16 , its hard to sell that many cars and have that weak an economy. We have some housing numbers, some mortgage numbers that are not that good, so weve got yin and yang. I think that residential construction, okay, nonresidential starting to catch on a little bit. Its still this mixed picture, but i think its mixed positive. Mortgage apps down for the seventh consecutive nonholiday week. Down 1. 2 this morning. And we know the weather was rough. But nobody was out there looking for a mortgage or a house. No. And i dont know how much the countrys short inventory like northeast where theres different cities that just dont have a lot of inventory so you cant buy a house. But housing, can it offset this great auto number . Perhaps. I mean, i know that we we had a really interesting guest yesterday, marty mucci who is the ceo of paychex. They developed a Small Business index. And here you see these certain states do well and whats the overlap . Its oil and gas. Yeah. So, i mean, thats a sector that does well. I had embridge on mad money last night. The pipeline is extraordinary. Theyre saying, listen, your country, basically because hes canadian is not showing a tremendous resistance to building pipelines. Can you imagine what would happen if we were building those . That whole part of the economy is on fire. Right. And you are obviously in favor of the keystone pipeline. I just think its going embridge said its going to china otherwise. I dont think the chinese necessarily care about our air, what happens in china doesnt stay in china it kind of goes to l. A. To the larger point of the economy, you know, these companies are spending a lot in terms of capital and putting capital in the ground if you will, but there still seems to be an unwillingness of many corporations to spend beyond what is necessary to really invest beyond and perhaps to choose to return that money to shareholders, which is not necessarily a bad thing in the form of continued dividends or higher different den edividends can we get beyond 2. 5 if you dont get the kind of increased Capital Spending that weve yet to really see . Its a great question. Everybody is anticipating subpar Revenue Growth and why add employees in the subpar Revenue Growth . We saw the Dallas Service survey, dallas had Federal Reserve numbers out yesterday, and they showed good growth. But wheres dallas . Yeah. Oil and gas. Oil and gas. In the meantime the markets themselves, jim, weve got record closing highs in the s p, the russell, the transports the transports. And the midcaps and now all the dow theorists having the transports at a high, industrials need 44 points today to confirm it. Are you a believer in that . I think that there are enough industrials that can really take us over the top that are still stalled. I look for aerospace. We saw an order that didnt you think there was a dearth of orders lately . But boeing got a big order. We need to see aerospace back into the black. There had been a momentary inventory glut. We heard that from alcoa which makes 2 million fasteners per plane, i think that passed. 16. 4 million cars. But i want to hear from retail itself, because were hearing slow out of the gate again. I saw numbers for home depot and lowes slow out of the gate. Yeah. Prada today, what they are seeing for 2014 nowhere near the comes of last year. No. Remember china the baltic freight down again. It will be interesting to see, we cant use copper because of the chicalean earthquake. And international spotty to better in a lot of the markets over there and i think thats important. But at the same time we see rental equipment doing better here, but at the same time, david, youre absolutely right. Do i hear Major American Companies say its time to put them to work . No. No. Right. That may never change. Its hard. Wouldnt that be something . Well, its been years and years, great productivity increases along the way and an unwillingness in the sense to embrace the real kind of confidence perhaps that you need because you dont think the end market demand is there. Low rates are one thing but until you feel like youre behind the curve on demand, why invest. Speaking of jobs, jobs friday does mean another chance for you to nail the number and win a prize. Tweet us your predictions for march nonfarm payrolls use our handle squawkstreet, nailthe number if you win a nice wireless speaker autographed by everyone from squawk on the street and youll have until 8 30 a. M. On the jobs friday. And the consensus is 195 and adp didnt change much. No, it didnt. People are home to see all the averages hit the high and then say, well, why isnt my life a little better . Why dont i feel that theres great job mobility in this country . Why do i have to move to an oil rig 13 miles off the coast of louisiana in order to be able to find a job . Live in a man camp in south dakota. Yes, yes. Meantime, the debate over High Frequency trading and whether the markets are rigged has been taken to a whole new level. Yesterdays exchange on power lunch between iax grabbed nyse floor traders attention in a very big way, take a listen. He said it in the book, you said it in the book, thats when i knew the markets were rigged. Its disgusting that you are trying to parse your words now, okay . You cant say that you are quoted that way in the book, but okay, lets walk through an example. Do you believe it or not . Because you said it. Let me walk you through an example its a yesorno question. Do you believe it or not . I believe the markets are rigged. There you go. And i also think youre part of the rigging. If you want to do this, lets do this. I really do. For 72 hours weve held this debate. I think the general sense is obrien of bats even if you are sympathetic to his plight came off to defensively and turned people off but it certainly got a lot of attention down here. If it were a movie, you would say, geez, hes a bad guy, hes very defensive, hes a bad guy. I had a good discussion with joe kernen before you guys came down, look, its entirely rigged its entirely possibly rigged if you trade 50 times a day, these people are going to take a little bit of a little of your vig. If you are out there trying to find the next google, theyre not really going to impact you. As soon as you say that on twitter, people say, why dont you recognize that these guys are a tax on the system . They are a tax on the system. I felt that the gentleman who was iex, that makes sense. It reminds me of the way New York Stock Exchanges used to be when it was a mutual organization and dick grasso would say, listen, its the peoples exchange. They have to make a living its just i wish they made a living in a way that everybody knew. Its interesting. I will say this, it has certainly elevated this conversation to across the board. Last night i had dinner with a Senior Member of the wall street establishment, lets leave it at that. Wanted to talk about it. This morning i get another phone call from yet another person who runs a very large investment bank. And they want to talk about it. They want to talk about it. Now, they also want to talk about the fact how are you going to when we get back to this right or wrong, Retail Investors, can you really completely level the Playing Field . Im a heng fund and im paying 100 million in commissions every year to Goldman Sachs should i not expect anything from that money . And by the way, if im Warren Buffett sitting in my bathtub and i get the phone call from Brian Moynihan one day saying, hey, you want to buy the stock low, and ill give you a convert on that . What is that . A Retail Investor getting that call . Of course not. Is that wrong . Theres a government and if the government deems then everybody should have a level Playing Field, then it is wrong. Whether we like it or not. They do write offerings in the uk and they try to avoid the kind of things that buffett was able to take advantage of because he is Warren Buffett. Would you feel better if the s. E. C. Comes out and say, listen, a guy that pays more gets better treatment and thats the way it is in this country . Wouldnt you feel better if thats the way they said it . You can try to do everything you can to level the Playing Field, but you got to say theres two different worlds, theyre playing different games, you know. Theres also the game, lets say we wash them out entirely, volume comes down 30 , 50 , then were here in the middle of the day trying to explain 100point swings in the way we havent had to in a long time . They do back away. They backed away on the flash crash. But, again, i want to come back to the idea that if youre playing this game at home and youre trying to beat these guys, forget it. Its not the right game. It doesnt matter you dont have to all right. Its not about buying yes or no yes or no come on you want to get into this . I wanted to try it. How did it sound . Did i sound like the good guy or the bad guy . Howd it sound . Is he the good guy or the bad guy. In mike lewis book hes the good guy. Its always white hat, black hat. People are saying today the more they think about it, for instance, the more they figure hft is the perfection of price discovery, right . There is that out there. You run ahead of meef. I dont want anyone to have a jump on my order and get it back because when i was at Goldman Sachs had an order to buy a million shares of phillips p, i didnt want anybody to buy it ahead of me because my customer would have fired me. Its not what people should be doing at home. I dont think its fair. How about lifes unfair . It is. But the fact is that this gets to the belief that theres no integrity of the marketplace and you continue to have people saying forget about it in terms of the not thats a problem. Maybe everybody should invest in mutual funds. And etfs which they already do. No. Look at the and then youre out of business. Okay. Done what, ill find Something Else to do. I like this restaurant gig. You already are. I got the restaurant game and if you pay up you can get fresh avocado. Thinking ahead, looki looking around the corner. I see it coming. Look, i think the market for the last five years proves that if you buy highquality companies and you hold on to them, you can make a great deal of money. But that is different from what they were arguing about yesterday. Yeah. And i think that people at home if you dont day trade youre not going to know the difference. Get rich carefully. Get rich carefully. Thats the point of my book. On page 176 i said its rigged. Now, i didnt come on here start screaming at people which could have helped my sales, maybe i could have sold another 50 books last night and i could have really brought home the bacon. What matters to me that people not get too caught up in it. I think its unfair, but please dont decide, do you know what, im going to stop looking for google. Im not going to find the next google. I am going to find a mutual fund and accept the fact that i can do okay. Right. I think you should do both. I think you should have discretionary camp for some of your money and put mutual i said the first 10,000 should be in an s p fund because i dont want you to be undiversified but its okay to have a quarter of your money to pick stocks and you watch the Companies Come public or maybe ceos come on mad money and you listen to Terry Lundgren and you say that macys is good and i want to buy it and it doubles. I like Dominos Pizza its at 10 and goes to 80. These things happen. Its not fantasyland. No, its not. Lets hope you can continue to provide the valuable insight. What did you think of them screaming at each other . Did you like that . Yes or no . Yes or no . Did you like it when jonah hill took the subpoena and threw it in. The subpoena, what was that . Did you see that movie . Who was the bad guy in that . Hey, i ask it. Who was was jordan the bad guy in that . Yes. Yeah. And the guy who rides on the subway. Rides on the subway. When we come back, the watch is on to see what amazons going to unveil later today. They have a big event in new york city. Well get more on that. Also ahead autonation ceo mike jackson will talk about those auto Sales Numbers from yesterday and, of course, the gm recall crisis, mary barra once again on capitol hill today. Take one more look at futures. Dows 44 points from an alltime closing high. Were back in just a moment. With all the opinions about stocks out there, how do you know which ones to follow . The equity summary score consolidates the ratings of up to 10 independent Research Providers into a single score thats weighted based on how accurate theyve been in the past. Im Howard Spielberg of fidelity investments. The equity summary score is one more innovative reason serious investors are choosing fidelity. Call or click to open your fidelity account today. Gm Ceo Mary Barra returns to the capitol hill hot seat and in about an hour shell testify at a Senate Subcommittee hearing. Barra faced a grilling from a house panel in yesterdays hearing. How can gm assure its customers that new switches be installed beginning april 7th will finally meet gms requirements . We are working very closely with our supplier. Our executive director responsible for switches is personally looking at the performance of the new switches. We will do 100 endofline testing to make sure that the performance, the safety, the functionality of these switches are safe. Ill tell you the one thing thats ringing in peoples minds is that memo from 2005 from an engineer whos not been named yet, quote, none of the solutions represents an acceptable business case. Thats the quote thats being repeated today. Do you think that shes going to have to make good, gm has to make good in a way were not even thinking . Is it a obama situation . You point that out because, of course, theyve hired Kenneth Feinberg to help them wade through this as they did in bp, however, they are under the Bankruptcy Code they are not they do not they cannot be sued essentially. Although they can give up some of that immunity, yes . They can choose to. I dont know how you go about weighing that. Today is a fulcrum day to me. I absolutely think that if this stock goes higher and we also had a reduce come out and said sell the stock. If this stock bottoms, then i think thats significant. Look, i thought the hearings went i thought she did okay. You know, one of the things that i think people always forget is its not an optimal situation in front of congress. Its not, like, wow, that was really terrific. Because that aint the goal. The goal isnt to come out and get the congressional medal of testimony. Its kind of, like, just get out of there alive, you know . Hope that frankie pantenjelli isnt giving you the high sign in the back of the room. A lot of people think the board kind of saw this coming and basically presented her as a fresh face with which to answer this problem that they knew was coming. Boy, what a setup. Was there anybody else to choose from . Would they have gone in another direction . I find that hard to an engineer . I find that hard toa agimagi because she was considered where is the cobalt team yes or no . I dont know where the cobalt team is. The cobalt had a bad feel to it. Didnt you come away with the feeling, wow, im glad i didnt come away with a cobalt. You cant spell pinto without a cobalt. Isnt it the ultimate test that they had 4 gain in their come, in their sales . The American People just dont care . They may not paying attention now. These things take time. Im glad you mentioned that ken feinberg is there. When we come back well get cramers mad dash and take a look at the premarket before the bell and a lot more of squawk on the street straight ahead. E. I tuned it all out. With unitedhealthcare, i get information that matters. My individual health profile, not random statistics. They even reward me for addressing my health risks. So im doing fine. But shes still gonna give me a heart attack. Innovations that work for you. Thats health in numbers. Unitedhealthcare. All right. About 7 1 2 minutes to go before the opening bell. Its a wednesday. Piper comes out this morning and says, listen, apples a value play, too. You want to take up all the other value plays, you ought to take up apple. Going to be a boost in the dividend and the buyback when they announce the quarter and thinks the new products are underrated and goes up 43. 3 from last year. A little bit of growth is whats been driving some of these stoke stocks and i think the overall note is are you going to take hewlettpackard up this much . Are you going to do that . Are you going to take Western Digital up every day . How about taking up apple. Its not as