Insurers all morning long. Europe got stung with the worst german factory orders in eight years. Trade deficit at a fiveyear high. The health care proposal. The fight begins over what to repeal and how to replace. Plus, another jobs announcement from exxonmobil. The president thanking exxon, calling the actions the core of his agenda. And a rally snapped. Snap falls 12 . Now below its opening price from ipo day and moving lower in the premarket. First up, Health Related stocks are in focus now that the house gop is repealing and replacing the Affordable Care act. Changes include requiring people without insurance to pay a tax penalty. The use of credits instead of subsidies to help people pay for insurance based on age and income levels. Freezing Medicaid Enrollment at current levels and the tax credits will remain one of the sticky points. Rand paul already out this morning calling it obamacare light. A tweet from the president , getting rid of state lines, promoting competition. It would promote competition. Having different organizations go against each other. There wasnt enough competition, one of the reasons the raise went up so much. Its been different not to have a political discussion about it. It is an impeer cal battrimperi. The rates either went up or they didnt. I think United Health has the best technology, algorithm. When they pulled out, it showed me the real competitor, the one you want, stepped away, making it difficult to get prices lower. True. We made a lot of aetna choosing to pull out in many exchanges. However, during the court case, for aetna and humana, the judge said it was based on aetnas attempts to get leverage on the antitrust case opposed to the economics, which was interesting at the time. Right. No doubt, there has less competition in the exchanges and a number of the smaller players certainly faced extinction from trying to compete. The larger guys, anthem stayed in there perhaps as the most aggressive. Right. I find this president s tweet about the working on a new drug system to be competition, is that like in europe where if you dont come to terms, they drop you from the formulary . He talks about a phase two and three of the plan. On the morning shows today, mulvaney said it could pass the house by easter. Senate will be the tough hill to climb. These are complicated things. I tell people, if youre looking toward washington to be a reason why you buy or sell, just stick with deregulation. Stick with what the executive orders can be. Those are line items, pens. The transparency affairs, anything with the epa, where you decide, listen, were not to delay coal, being fazed out. Anything involving congress is just going to be really difficult to get done because of the interest. Look, eli lilly is powerful in washington. The Vice President of the United States is from indiana. Sometimes i forget. These are powerful interests. There are powerful interests when it comes to aca, when it comes to tax reform, in particular, to the border adjustment weve talked about so often, which is taking us to arkansas and the two republican senators from there. Right. Speaking of which whether theyd be in favor, given wall mamart is an importa part of their economy . President s schedule today, talking with cotton and purdue. Thats the topic at hand. It is so difficult watching the border tax commercial and then reading pier one having the quarter. Whats the essence of pier one . Pier one is an importing. Would pier one be put out of business by the border tax adjustment . They call it pier one imports. Thats the name of the company. I think it would be, i dont know, just a long walk down a short pier. Moving on to exxon, the president lauding the plan to invest 20 billion through 2022 on u. S. Gulf coast refining projects, creating 35,000 temporary jobs, 12,000 permanent jobs. A plan since 2013. Late last night, the president tweeted, buy american and hire american are principles at the core of my agenda, which is jobs, jobs, jobs. Thank you, exxonmobil. The company said it will double production of u. S. Shale by in the next ten years. They have good assets. Not great but good. 47 billion in projects going on right now in that particular area. A lot of it related to lng. A lot related to the fact our Natural Gas Prices are the lowest in the world now. You can build a lot of plastic. It is a boom. I wish more people could get down there. Sometimes i think wherever there is unemployed people, we should give them a federal bus ticket to get there. If you can add medicalewelders, have a shortage of in this country, people working with their hands to get this all done. The jobs that are coming in texas, east texas, are rather extraordinary. If i were president , id get down there right now and say, look, this is where you have to come. This is where the jobs are. A lot of jobs left north dakota, which boomed for a very long time, didnt it in. Yeah but these are more absolutely, the pri you break even and we move below it, we know what happens. Stop talking about man camps. Right, the man camps. Stop talking about crude by rail. Right. These are mostly natural gas related jobs, to be able to remember, even mexico has a shortage of natural gas. Texas has a shortage of natural gas. Some of these, carl, i think were originally planned as far back as 2013. Yup. Pay an average of 100 k. Good jobs, as jim points out. Great jobs. Ive got to tell you, unfortunately, one of the things we dont do well in this country are trade schools. If youre illinois tool works, a remarkable company that makes fantastic quality equipment, its welded and designed. If you dont know how to weld, you can do it. Automation. I think it is interesting. We have jobs created as part of previously announced programs and companies are taking an opportunity to showcase because they know they will get good publicity and perhaps a nice tweet from the president. Recall amazons plan to open warehouses, and the jobs created there. Even softbank, which had previously announced plans. It is not a bad strategy. Toyota maybe softly. You want someone to say, i was going to build a plant where ive got a lot of plants but im moving it to south carolina. Yup. Im not going to build that plant. Thats the real winner. Thats the pure play. Thats the guy who gets more than a tweet. Trump buys a car for that guy. Were going to talk to the chair of saudi aramco in the next hour. Alfalih. It brings to kind, as it relates to exxon, that the u. S. Will be the biggest contributor to new Global Supply through 2022. Well, there is just a remarkable amount that can be pulled out of the ground, between 35 and 45, that is lucrative. Provided it is in one area of the country. Lets not confuse things. Just if you had piping, scoop and stack in oklahoma, theyre smaller, but we dont have enough pipe to get all the oil out of the permion. We thought we did. We had the infrastructure left over from the movie giant. I dont know if you saw that. James dean. I saw it once. I was a james dean aficionado at one point in my career. I think if we can get the piping out, we would be able to produce it. Needs to be built now. Would be fabulous for u. S. Deal, because they maybe the oil tube. It is all good for jobs. Im in a positive mood, arent i . Yeah. Just positive. A lot of positivity coming from me today. I feel it. This will bring that down. See if i can beat it out of you. Showing the january trade deficit, a number watched by the president. Widened to 48. 5 billion. The highest monthly level since 2012. The oecd maintains the 3. 3 growth for the year. It lifted the outlook for the u. S. , china and japan because of fiscal policy support. Seeing the u. S. Economy growing at 2. 4 compared to a prior 2. 3 . Whoa. Moving in the right direction. I think the rest of the world is leading us. The rest of the world is looking. We dont look at our markets. Unless President Trump was president of every country, the stock market is up. Markets are up around the world. The german number, i think, is like a durable goods number. It is tricky. There are some things that can offset there. I like the global tone. I like the tone that i am seeing. I had dominos on last night. A Technology Company that delivers pizza. I had well build on last night, huge Food Services company, international. Fantastic. There are countries doing well, doing so much business. So, yes, again, im much more i dont hear you talking about inflation, gas prices, wage inflation, where are we going to find the workers . Im worried about the drug stocks. The drug stocks on the tweet. On pricing . When the president tweets he is going to drive the prices down, doesnt want me to buy it. A new system where there will be competition in the drug industry. You have the formula you like the idea i have . Yeah. If you dont play ball, you get off the list. He previously called drug pricing a disaster. Disaster, yeah. Curious to see what exactly hes talking about when he says that. Of course, hes been talking about the ability to buy in bulk, fix prices, make the government a single purchaser. How about the meetings theyve had . Many argue it would not be yeah. The meetings were era of good feeling with the drug companies, you know. A lot of hugs, positive mojo from the meetings, you know. Guess the mojo didnt carry over. Yeah. See how walmart and lowes feel about some of the meetings. Yeah. I mean, it turns out the meetings were a little for show . I dont know. Whats the drug stocks go down today . 2 . People realize, wow, we thought they were immune. I mean, theyve been pfizer has been good. Merck has been good. Lily has been so strong. The charts didnt indicate the president was going to do that, just in case you wondered. Theres been talk about consolidation amongst the bigger players. It is hard to imagine you could make that strategic decision without understanding exactly where washington was going to play. But astrazenica was coming back. They have a great cancer franchise. I thought there might be a combination with bristolmyers. Nothing going on right now. You rule it out . Dont try to start something. Nothing is going on. How about valeant . Where is the floor . I dont know. Took out the 13th floor yesterday. A lot of people feel there is no 13th floor. Were going to start asking, whats the floor for snap after a pullback yesterday, down 12 . Well talk about that and what it means. Also ahead, the chairman of oil giant aud aramsaudi aramco. S p down, flirting with biggest losses since january. Back after a break. Where, in all of this, is the stuff that matters . The stakes are so high, your finances, your future. How do you solve this . You dont. You partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. Morgan stanley. You realize the smartest investing idea, isnt just what you invest in, but who you invest with. But who you invest with. This is my new alert system for whenever anything happens in the market. But thinkorswim already lets you create custom alerts for all the things that are important to you. I guess we dont need the kid anymore. Custom alerts on thinkorswim. Only at Td Ameritrade. Heading into the fourth session as a public company, snap falling in the premarket after a 12 drop in mondays trading. The parent of snapchat below the opening price of 24, above the ipo price of 17. At least five analysts slapped a sell rating on the stock. We talked about that yesterday. Yeah. Look, theres new numbers out talking about the daily average users having another step down, at least as a survey. Theres been a lot of articles including about this robin hood. I had the brokerage house, that millenniials bought it. To understand this process, im not trying to be a snob, but to understand the way that stock is placed in an ipo is to recognize that youre not buying a correct valuation. The valuation is discoutorted b how much stock is kept back and how many people bought it at 17. The company may be profitable in 2020, maybe not. Facebook is immensely popular. By that measure, when would you ever buy on the open of a new issue . Only on a discount. When it breaks syndicate bid . No. If it is a good company. Yeah. Remember s, i like deals wit no pizazz. Most of the people who watch mad money cant get in on a deal. I say, this has no pizazz but it is something you ought to be looking at. This thing had too much pizazz. I mean, you know, he hangs out seems way more excited than they were. Tom farley. Whats his name sorry. One of the most whats his name . Thinking about whats his name i said tom farley. Hes the guy. Im getting older. What can i tell you . Sometimes the names arent right there. Played baseball for georgetown. Fabulo fabulous. I bet he was. How about the story today that some groups representing institutional investors, trying to get the indexes, like msp, from excluding companies that dont offer benchmarks. Fair . Not that it is an issue for snap any time soon. I felt these should be a democracy. You dont have to own anything. Nobody is putting a gun to your head, own that. A number of analysts are taking a look at the app tracking data points. I guess there are various ways to track apps. Looking at daily average user growth for snap, of course, which was a concern going into the ipo and continues to be one a few days later in terms of what the growth looked like for the early part of this year so far. We know growth had been slowing yearoveryear and apparently continues to. Youll continue to see that. It is decelerating 3 yearoveryear growth. It is not a growth company. It is not great. No. Twitter remember, i said going short snap and long twitter yesterday on wathe show. Critics. Nobody wanted to do that. Already, youd be outbid. That was a good conversation. Yeah, it was good. The president s tweets are irrelevant, theyre noise. All kinds of things. Jason, the executive producer, was happy about that. He said, i felt great after that. It is the thing im feeling now. Want to spend our show talking about another show . Come on, man. Right here. In the present. 40 minutes left. Because it is your Birthday Week . 40 minutes left. It is how come i cant remember anybodys name anymore. The age gets me. Amenda, they jacked the price up. Art, happy birthday, as well. Well talk to him later on this morning. Wish him well. Famous march birthdays. When we come back, cramers mad dash. Count down to the opening bell. One more look at the futures. More squawk on the street in a minute. I used to make a wish before the city turned gray all right. Weve got opening bell about seven minutes away. Time for our mad dash. A store that ended up being the king of Sporting Goods stores, dicks reports today. People seize on the negative. The fact that the company gave a forecast that was a little below what people were looking for. 50 55 versus 61. The company has been conservative all their career and it is good. I look at their comps and say, plus five. I looked at the numbers, 1. 32 versus looking for 1. 30. 17 . I say, wait a second, this is not as bad as people think. Right now, david, when it involves retail, no one wants to touch retail. I ventured into dicks for the first time not long ago. Whatd you think . I was astounded how large the store was. Huge, right . I had no idea it was that large. If you have kids that play sports, i mean everything was there. It was baseball season. We had to stock up on stuff. Wow. They did a good number. Must have a lot of skus, man. Bigger than anybody, one of the reasons they have been triumphant. I have to point out that this negativity, people look at its forecast and they say, wait a second, it is just as bad as everything else. I question that. I also dont think nike is doing that badly. Under armor is struggling right now. We had a report last night, dress barn, miserable number. Pier one had a good number. People look at dicks and say, the border tax, and youve got a big box retailer that nobody likes. Witness target. Im still very concerned about target. Are you . Yeah. Target, this is one of those that the dividend is not saving them. I dont know. I mean, a lot of people are saying, jim, you have to focus on the boycott. I am focusing on the earnings. Morose. Got an opening bell a few minutes away. The future of business in new york state is already in motion. Companies across the state are growing the economy, with the help of the lowest taxes in decades, a talented workforce, and worldclass innovations. Like in plattsburgh, where the most advanced transportation is already en route. And in corning, where the future is materializing. Let us help grow your companys tomorrow today at esd. Ny. Gov and her new mobile wedding business. Tte at first, getting paid was tough. Until she got quickbooks. Now she sends invoices, sees when theyve been viewed andtadahpaid twice as fast for free. Visit quickbooksdotcom. Duexperience our mostand pthrilling models ever. , including the exhilarating is, gs and rc coupe. Experience amazing. Youre watching cnbc squawk on the street live from the Financial Capital of the world. The opening bell in two minutes time. All eyes on health care today as we take stock of what theyre calling the American Health care act. Were going to hear from kevin brady later this morning. Jeff bezos, by the way, announcing the first satellite customer from origin. Well hear from bezos, as well. Getting some news from the commerce department. According to a source, chinas zte agreed to pay 1 billion to settle a case involving the alleged sale of u. S. Technology to iran. Zte buys components from u. S. Companies and had been accused of reselling the goods to iran. Commerce secretary wilbur ross last week told cnbc the white house would be focusing on enforcing existing trade laws. We expect an official announcement later on this morning. Then well talk to the commerce secretary around 11 45 eastern time. I thought it was great when he said that. There are a lot of news in the books and we dont pursue the laws. Also, another thing we dont talk a lot about. The globalization polity. It is not like every company feels it has been beaten to death because of our relationship with globalization. The vast majority love it. They do. Did you read the editorial from navarro yesterday . He doesnt see the world that way. He doesnt. The key trade adviser to the president. I do think youll get a youll see companies i mean, look at the drug companies. Theyve done incredibly well overseas. Obviously, they do a lot of single payer but its been great overseas. I met with the ceo of mylan. Number one in france. France the opening bell here. T montreal celebrating the 200th anniversary. The ceo will join us in half an hour. Maker of photo labs. It was almost like people said, i got my chance. Whenever you get this, i got my chance moment, the buyers are substantive. They come in and take up a lot of stocks. I cant te