Macro to watch. Our roadmap begins with u. S. Foreign relations in the spotlight. The president meeting with merkel in washington today. Plus, the secretary of state Rex Tillerson giving a very strong warning to north korea. Then were going to move onto deregulation nation, what the current climate of deregulation means for media and telecom stocks. Shares of tiffany up on strong earnings. A Silver Lining perhaps for the luxury market. But first up, when the president meets with german chancellor merkel later this morning, trade, immigration and defense among the major issues likely to be discussed. Both leaders will hold a joint News Conference this afternoon. The Trump White House has been critical of germanys trade surplus as the u. S. Remains its single biggest export market, although the president has said nice things personally about merkel and her strength as a leader. Right. I think this is a rubber hits the road meeting because i think that we have not really seen trump in action, lets say against european leaders, particularly about nato. But secondarily i know this is when youre going to hear about russia in a substantive way. I think thats going to be the liberal media will be talking about how merkel is a sworn opponent of russia and obama and merkel worked together. And this is the beginning of the, i think, the problems with the special relationship between our country and germany that obama had created. I just dont think its going to be the same. I just dont think theres any way that this antinationalist, totally globalization premier, right, is going to meet up with an americafirst president and discussions are not going to be the way youll think theyll go, historically. Theyre not just having a bilateral, theyll have a roundtable with the ceos of bmw and siemens. Bringing in some apprentices going to speak for vocational training, how that works in germany and maybe how they hope it will work here. Well, bmw is a controversial company, it shouldnt be. Bmw is a huge manufacturer in this country, but theyre also a huge manufacturer in mexico. I know from the contacts that i have that people within the government here are saying bmw ought to build more plants in this country. So thats important. Siemens is just straight out headtohead against general electric, frankly. But i do think that this is the leader who is the most nationalist versus the leader who is most globalist. So theres really not a lot of Common Ground here other than the fact germanys been on our side for a long time. But look out. I think there are going to be sparks. You do . I do. This is not like other meetings. Is there any point the broader markets react to geopolitical concerns . Because it doesnt seem thats been the case yet. Its just been a lot of talk about the possibility of protectionism and possibility of certain friction with allies, but. The thought that navarro the reason im coming at this is the navarro comments were the most incendiary comments we have had with our ally germany that i can recall. Okay. So i dont think that unless the president totally disowns navarros comments, i mean, i dont know how you have a pleasant meeting. Honestly. I dont know how you have one. That is an interesting point because it depends who hes channelling in other words is it navarro or more of gary cohns thoughts which we believe are much more towards being more constructive . Navarros been very focused on the trade deficit. He sees it as a real evil. Right. While other economists argue its not. Right. Kind of to put in very simple terms without getting into the level of complexity. This week navarro did say he hopes to create a powerhouse of trade between us, mexico, canada. Mnuchin the pesos back. Theyre all walking it back. But i do believe honestly, take a look at that relationship obama put together with merkel and i think thats a relationship that this president doesnt want. How about tillerson . Speaking on his ae asia trip about essentially giving up on 20 years of diplomatic efforts to rein in north korea. All the options are on the table. Certainly we do not want things to get to a military conflict. Were quite clear in that in our communications. But obviously if north korea takes actions that threatens the south Korean Forces or our own forces, then that will be met with an appropriate response. He says the era, the strategic patience has ended. Wow. And earlier last week the chinese premier said the u. S. And north korea are like two accelerating trains on a collision course. Look, for years what we thought is that if you gave them food they would relent. And they havent. And i think this is the beginning of a new policy towards north korea. Again, i go back to, i mean, geopolitical concerns sort of becoming something investors start thinking about front and center. If theres any one its got to be north korea which we know is trying to outfit an Intercontinental Missile with nuclear weapon. Like a parallel program . That could hit los angeles. You know that. Youre looking at me like you dont know what im talking about. Of course you do. Im talking about homeland for heavens sake. They have a Nuclear Program and iran has a Nuclear Program. Counsel of foreign relations, right, number one challenge going to face this administration, hes not alone in that leaf. No, but south korea is a great ally. South koreas in disarray, right . South korean governments in disarray. Their president s been impeached. Look, weve always felt that i dont want to speak too much foreign policy, doesnt make us any money but weve always felt the chinese were not doing their job to reign in north korea. Our plan has always been keep feeding, theyll come around. They never came around. Tillersons a serious guy. Tillersons breaking with everything at the state department. Tillerson is speaking very more nationalistic, very less conciliatory. Thats just whats happening. But i do think, look, theyre walking it back. Theyre doing a lot of things that seem like negotiating. Its like, you know, they come out really hard. And then, you know, see whether this side gives a little. Merkels not giving anything. Im telling you, this is going to be different meeting. Were going to focus on this. I really do. All right. Something else were focused on today is deregulation. Im in germany, howd you do that . Im just moving on, baby. Were talking about the president s push for deregulation of course all day on cnbc today. And what that could mean for your money. The fcc for example becomes into key focus when we talk about deregular d dereg in media and telecom, something weve talked a lot about already on this set many, many times but certainly worth going at again as we see the new fcc chair ajit pai get more and more focused on eliminating title 2, which is Net Neutrality, right . The fact that your isps, your Internet Service providers are regulated as though it was a telecommunications service. This was an area of great consternation for some under the previous administration, under chairman wheeler when it was regulated that way. And it is very much apparent that mr. Pai is going in a different direction. And it will be a positive, no doubt, for the likes of our Parent Company comcast and charter and verizon, at t and so many that provide Internet Service and Broadband Service really is what were talking about to the nation. Heres what mr. Pai had to say when we interviewed him a couple weeks back specific to eliminating Net Neutrality. I cant give you a specific timeframe, but what i can tell you is were studying the issue very carefully, were speaking to members of congress who might have an interest in this as well. And at the end of the day i think we want to deliver positive results for the American Online consumer. And as i said for two decades the proof was in the pudding that the consumer was best served with light touch regulation. And i think thats the end result that were hoping to achieve. Light touch regulation, of course, will go beyond Net Neutrality. By the way we should mention Reed Hastings yesterday talking about it from netflixs point of view, of course seen as potentially a company that would be hurt by the elimination of strict Net Neutrality. Did you see i did. Hes saying its not going to hurt us that much. But its a real question as to whether this will allow the provider of your broadband to start essentially charging you more to a certain extent and or the provider as in netflix charging them more in terms of fees for getting to you given youre using so much of the b d bandwidth to stream your movies and download your movies. Right. I can see where this would be a winner, but regulation has helped netflix so much. Yes, seen absolutely positive fabulous for netflix under the former administration and fcc chair wheeler. But its things like the broadcast ownership caps which have been in place since the 70s and perhaps dont make a great deal of sense. Thats why youre hearing talk about the possibility of tribune getting together with sin claire. Doesnt appear theyre that far along, but if you eliminate those caps somewhere around 39 in a given area, you would allow for a deal like that. Set top boxes, remember that one . We talked to pai about that as well. No longer can go out and buy your own. Privacy laws also being not as strict. Thats a positive for the isps. So so many areas where deregulation is already having an impact and will have much more of an impact. Then we move on of course to the possibility of mergers, which weve always talked so often about here. Right. Whether it be sprint and tmo, which by the way everybody can Start Talking on april 17th lets call it. Thats when you can Start Talking again as a result of the incentive auction, remember, for the air waves, that being done. And then that quiet period or not collusion period having expired. Ive been trying to scoop you on this. Yeah . Im going to london to talk to some people involved in this. David, i think theres going to be a deal. Between whom . I think the germans are done. You got to be more specific. I think deutsche tell is ready to move on. To do a deal with sprint . Well, you know, its interesting. We certainly no masa son has ownership strength would love to see a deal. Still becomes structure, what the germans would be willing to accept. And then you still get to the department of justice. The fcc remember they look at things theres masa, under Public Interest rule. Public interest is what stopped time warner cables purchase by our Parent Company comcast, because you can just keep it out there forever. But this fcc doesnt appear particularly interested. For example, they didnt want to weighin on at t and time warner. I know. I know. Right . And theres nothing really before them that they have to weighin on because theres no real licenses at stake or anything of that nature. So its the department of justice, jim, thats really going to be the key in any kind of a deal like that. What would the germans be willing to accept in order to offset the risk that theyre taking on that the deal would once again be turned down as it was when at t tried to buy tmo or even prior to them even announcing anything the last time through when they at least got the state of play from the department of justice between sprint and tmo trying to get together. Thats a key question. And i still maintain four going to three in a very Competitive Industry where prices are going down where its the key bill for most consumers, you have to wonder whether youre still going to see a doj thats going to be that willing to allow it. Right. If deutschetel want to do it, im not saying this is going to happen, this is what ive been working on. Youre not going to scoop me. Not in that area. No way. It will not be allowed, you will not be successful. Im letting you know. I want to go right now to a commercial. Im upset about this. You can wander all over the place but you cant get right down into my business. You cant get right into my business. I got this. You got the whole world. Ive got this little bit and youre still going to get in there . Yeah. No. No. Broader question for this deregulation theme were going to hit all day, jim, is how much the markets relying on it, right . You got a lot of people wondering about the stall in the banks, the dollar down two days in a row. Yesterday i think the banks did well. Some banks it was hit or miss. Wells did well because people think theyre clawing back. I think it really doesnt matter. But i keep thinking about what would have happened energy transfer, what would have happened to adp if Dakota Access had been blocked . This is an example of why deregulation matters. That company could have been sunk. Im having the best pipeline guy in the world tonight on mad money to talk about how this is the industry that deregulation is saving. So why is energy the only sector down since election day . Because were pumping so much oil in this country. Were pumping 100,000 more barrels a day each month because of ingenuity and technology and because of belief that this president is not going to block any of the pipelines that we need to go from oklahoma, to go from pennsylvania, to go from ohio and go from texas. Because all these are going to be disputed. This president is going to ram them through because of deregulation. Im not kidding. My pipeline expert tonight will unveil all this. Is it going to kill the market the way hamm said it could if you take production too high . Hamm . You mean the guy when it was 80 going 110 . I mean, the guy who picked thought princeton was going to go all the way. I dont know. Look, ive got to tell you, hes been wrong. Hes a great american. But i have to tell you we are pumping weve lowered the price of oil so much out of the ground here were 22 to 25 now in the last few months got it down to that. You can imagine how much money were making. So, yes, we are wrecking the price structure. But when we get to 50, 55, we back you have. We sell futures. Thats what we do. We dont sell oil. We sell futures. What country is that . I forgot. No green tie from david. Lets get Industrial Production with rick. Hey, rick. Good morning, carl. Well, Industrial Production for the month of february came in unchanged. Goose egg. Were expecting up a couple of tenths. We did gain two tenths on revision but still negative from minus 0. 3 to minus 0. 1. 75. 4, arguably a tenth light but close to expectations and garnered an extra 0. 2 on january from 75. 3 originally released to new stand at 75. 5. Yields are hovering just above 2. 5 where they were right before this number. And of course well pay very close attention to how we go into the weekend considering it was just about a week ago we were at the highest yields virtually since 2014. We havent come down that much, but we have come down from very significant resistance levels. David, jim, carl, back to you. Rick, thank you very much. When we return, its been five months since tim sloan was named chief of wells fargo. Were going to hear his strategy for the banks future in an exclusive interview. More squawk on the street from post nine in just a moment. Hey gary, whatd you got here . This bad boy is a mobile trading desk so that i can take my Trading Platform wherever i go. You know that thinkorswim seamlessly syncs across all your devices, right . Oh, so my custom studies will go with me . Anywhere you want to go the markets hot sync your platform on any device with thinkorswim. Only at Td Ameritrade amgen shares falling, comes after new data on cholesterol lowering drug reduced compared with stapd ard streemt but analysts are worried Risk Reduction is not enough to persuade insurers to pay for the drug which costs almost 15,000 a year, jim, this is pretty yeah, i expected this to show 20, 22, some people say its only 15 . That price tag no go. Now, over time maybe it will be better, but this is look, amgen has done a lot of things right and i dont want to just say this is the end of amgen because thats been to count them out is wrong, but this study was not as good. And a lot of people were thinking about this analyst meeting, including me, as being the breakthrough meeting about a new drug that would really dramatically cut maybe even much better. Reminds me a little of bristolmyers with opdivo when it just didnt come through. But that said all it is is debate and this doesnt quell the debate reading adam does great stuff on this, im not willing to writeoff amgen and as a matter of fact i think we havent heard the last of this drug. We havent heard the last of this drug. No, trying to look here they released everything at the same time amgen in terms of slide, everything else, what they met, what they didnt meet and obviously the market is making quick judgment here in terms of what youre going to see success or lack thereof of, of this drug, repatha. Insurance Companies May not go for it. When you think about that, thats the payer. And this is disappointing. 27,000 patients. Beneficiaries here on the other side that are competitive . Its almost the lipitor right. So what happens Insurance Companies in the new world of deregulation and where the president wants prices down, you know, certainly medicare was not going to go for right. Thats the point. If you cant prove that it is going to be that different than the existing therapies why the Insurance Companies going to want to pay for it. Anything that its about that is kind of roughly equivalent, the governments not going to pay for it. Really worth following this because this is this was a drug that i think a lot of people thought their doctors were going to recommend. They aint going to recommend it. Yeah, theres a lot we dont know about Health Care Policy this year. Well get cramers mad dash, after the break get the opening bell. All averages are higher for the week, making it 7 out of 8 for the s p, 5 of 6 for the dow, bac