1 . The ten year yield is at 242. Were watching oil closely. Getting back above 50 a barrel for the first time in a while and holding above that level. This morning our road map starts today with an historic quarter. Futuring pointing to the lower futures pointing to the lower open as we said but stocks are setting records for q1. Plus, President Trump to sign new orders aimed at combating Foreign Trade abuses today. This as the white house prepares for a meeting with the president of china next week. And after lululemon shares plummet, hear what the ceo told jim about turning around the companys sales. The first three months of the year belong to the bulls. As we head into the final trading session of the quarter the s p 500 is up almost 500 on pace for the sixth consecutive positive quarter. The same for the dow. The big winner is the nasdaq up nearly 9. 9 after closing at a record high yesterday. Jim, the dow is set for its longest quarterly winning streak in ten years. Yeah, look, this is not just please, its not just tl trump. A lot of it is that Hillary Clinton didnt win. The world is getting better. Look at the markets all over the world, unless President Trump is president of all the other countries, you come to the conclusion that things are indeed better and that matters. Europe is better. China we have a great pmi number last night. Best since 2012. I continue to believe that the world is getting to be better with the exception of venezuela. Its the only country know thats going to have down numbers. So we shouldnt be surprised by what the market has done in First Quarter . After what happened on election night, and then things turned quickly, and they have almost been steady going up. Theres a few peaks and valleys here and there. But no sort of correction that people have been looking for. I think a lot of the people are on the wrong side of the trade. You had a great opening yesterday on your halftime show about the companies that are winning in the nasdaq. A lot of these companies, people were betting against the companies. Amazon and netflix were being bet against. Apple was and they were fools bets. In the meantime we had a number of positives. We had some acquisitions. A lot of biotechs announced really big new drugs that got them going. There were fundamental things that occurred not just washington. Best quarter in five years for the nasdaq 100. Why is that . Is that because youre talking about a group of stocks that arent so tied to the trump agenda so much . Fed can say whatever they want. Yes. Yes. Because this was a market think of the projection the progression there. First the banks go up, why . Because its deregulation. Two rate hikes. Then the industrials and the materials go up. Because well lower the Corporate Tax rate and repatriation. The ten year is saying we wont have an economic expansion of great magnitude and inflation remains subdued so lets buy the companies that have growth no matter what. Biotechs. You see names like vertex which has an unbelievable break through for Cystic Fibrosis and insight which has amazing drugs. Activism had a blowout quarter. And illumina is a takeover target. And micron so we have an iphone that is super cycle. What can i tell you . Tech is doing great across the board. People didnt expect that. People bet against tech. As you said its a contrarian quarter. You would have thought just based on some of the things that the president said in the past that maybe tech wont have a great quarter, maybe Health Care Wont have a great quarter and energy is the place to be and it was the completely the completely the opposite. There was a belief that somehow Silicon Valley would be hated by this president who would exact retribution on those who gave money to clinton. It was the opposite. Open mind, open heart is the strategy, on the committee. He has lunch with trump and merkel to talk about apprenticeship. Apprentice close to the game. Its something that trump cares about. He did tell merkel youre fired. Handed her a bill i didnt know get out of here. Theyre not as chummy as you think. But youre right. When you look at the companies that went up, panera bread heavily shorted. Because all restaurants are supposed to be bad. When you look at the biotechs, werent we supposed to have pricing pressure, that wont happen. When we look at individual companies that have nothing to do with trump and have to do with a change mobile social cloud internet autonomous driving, bingo. What does that have to do with trump . Is this going to be played as we go into the new quarter . I dont know. The dollar has been okay. Good numbers because of overseas. We might rotate back to the industrials. We might. Look, im not going to tell you that things are perfect. I had i had marty on hes paychex. They handle the small to medium sized business and they have not sign an uptick even though thats who should benefit from deregulation. I think the deregulation story is chronically undervalued by everybody. I was with david cote yesterday. Hes retiring from honeywell. He thinks the deregulation stuff is terrific. Just because it changes the attitude. Makes people want to grow. United technology said the same thing. Gray case said deregulation is making people feel like things are better. Look, the words you heard at the beginning of the quarter was reflation trade. When is the last time you heard that . Like a hedge fund, taking the money away from them anyway. What matters, the corporations. When you have a micron and they say well going to do 50 points better than what the market thinks. In the meantime, youve got trade relief perhaps which actually will matter. A lot of our companies have been boxed out of a lot of deals. You know, my wife tried to buy a john deere tractor in italy recently. Im not kidding. It was double the listed price. You can ship it by fedex if they would take that size. I mean, the building tariffs our country hassed to fight against, john deere is the best tractor maker in the world. When you go over to europe do you think you can buy them for the listed price, but you cant ship a john deere. U. P. S. Doesnt take that thing. Whats the big story as we go into the next three months . Is it going to be, look, the market has run a lot on expectations of the trump agenda. Now you have earnings, earnings are the tell, no, as to i think earnings industrial earnings are going to surprise. When you have a Company Caterpillar is in the cross hairs of the federal government, that i raided the place. When you see that number that goes up day after day, thats china being back. And europe is trying to keep its currency down. They cant keep theynt who be able to keep it down, because business is so good for europe. There was a monopoly on shirts and ties, people laughed at him when he moved over to europe. No one is laughing. Theyre laughing at lulu. But well get to that. Do you think its possible that the market has overpriced the trump agenda and overlooked some of the issues around the administration . The russian investigation. I mean this flynn looking for immunity story is going to it will stay in the headlines for several days now. Hey, listen, i want immunity. I would have my lawyer do to the Justice Department and say, shh, my guy hes okay. Im not going to take the fifth. But you dont like hey, i want immunity. Doesnt that mean like youre hey im guilty, i dont like that. Not the way i would approach it. Ill advised way. I think people are absolutely pricing in too much of the ability for trump to get through everything. But when they see the numbers they may not be so down. You know, the papers are very negative. The fake news is very negative look, today, the journal gins up an article about how equity trading is bad. But how about bond trading which is fantastic and currency trading and the ipos that are about to come, so people sell on that. Now the banks maybe are 5 too high. Maybe not. But i like if you have two more or three rate hikes thats found money. I like found money. What could wreck the Administration Health care didnt. Well, mnuchin and cohn, you get the health care guys in, if you have Einstein Ryan come out in his own subtle way not being able to do tax reform. But insisting we wipe out 300,000 jobs in retail by doing a border tax. Thats the number i found. Its all about the taxes then . Thats the thing you have to keep your eye on the ball with if you start to think that taxes are going to be delayed longer than people think. Right. Is that the yeah. And they will be delayed start to Pay Attention to . Ill got to tell you with trade reform, im calling it reform because its true what wilbur ross says, weve been taking a beating particularly in agriculture. If you look at what the numbers will be, look at micron. Look what its selling for. And apple 13 times earnings. Can it go undo to 133, yeah. You mentioned wilbur ross. By the way the president s going to announce a couple of executive orders hes going to sign a couple of executive orders. Does tweeting if they can figure out a signing thing he wouldnt have to a photoop. Do a thing on twitter. Wilbur ross the commerce secretary was on squawk. Should we engage in a trade war and ross said were already in one. Heres what he told squawk. Lets listen to that. We are in a trade war. We have been for decades. The only difference is that our troops are finally coming to the ramparts. We didnt end up with the trade deficit accidentally. We ended up in the trade deficit because of the way we negotiated treaties and because of the determination of other countries who dont agree with the academics who are desperately trying to have the trade surplus with us. Its not inherent in free trade that one country has to absorb all the net exports of the rest of the world. So look hes right. A big deal. Theyll step up the rhetoric, but the president sign these executive orders today. Look, some of this i would go one step further. This is friendly fire. We make deals in order to push an agenda of lets say of foreign aid. Where we literal i will hurt ourselves. Its not just they keep us down. You know . We dont we actually offer things that would make it so that were subsidizing and, you know, theres a tremendous guilt too. Theres a guilt to some of this. Where you talk to people, listen, our gdp is so big we have to help the world. Go the go to the towns that there used to be jobs, they have helped the world, they have helped the world by losing their job. Hello. By the way, i was a fair trader long before trump was. Im not switching the agenda. Thank you damico for schooling me on this. They have been dumping the steel. They almost hurt the Steel Industry. And thats the issue, the dumping of the steel and by the way, President Trump and the president xi is going to meet next week at maralago. The president said theres going to be frank conversation around the table or on the golf course or wherever they meet at maralago. There ought to be. We had an upgrade from alcoa. Do you know how many times the aluminum market has been destroyed by the chinese. Look, the state companies have been providing jobs. What do they do in china . They rob our jobs but send us a lot of their pollution. 17 of the pollution in california comes from china. Onefifth of the country. Look, this was one of the risks that the at the very beginning of the administration we started to talk about when you look at, you know, investing in the market. Things that could upset the market. Are they going to start a trade war . Maybe they have softened a tiny bit some of the rhetoric around nafta. Even though the president wants to have a renegotiation. Maybe china is a paper tiger. Ever hear that . Maybe china is a paper tiger. Maybe those conversations in florida dont go the way we think. Maybe they need us more than maybe we have been laying down. Maybe we have like you know what . Throw in the throw ing the game, maybe to sell more shampoo . Oh, to be a fly on the wall in the meetings at maralago. Especially if navarros in the room. Oh. Watch out. Better have Richard Steele remember him . Boxing referee, better have him in there. Yeah, hey, listen, hes down there giving him the business. All right. Ben bright, i think. Coming up more on the movers as we head into the final trading day of the quarter. Also ahead, jay timmons head of the National Association of manufacturers on a day in which President Trump is signing those executive orders on trade. Lets take another look at the futures as well. Final day of the quarter looks like that, at least at the beginning. Well open lower albeit slightly across the board. With e trades powerful trading tools, right at your fingertips, you have access to indepth analysis, level 2 data, and a team of experienced traders ready to help you if you need it. Its like having the power of a trading floor, wherever you are. Its your trade. E trade. Start trading today at etrade. Com you totanobodys hurt, new car. But there will still be pain. It comes when your Insurance Company says theyll only pay threequarters of what it takes to replace it. What are you supposed to do . Drive threequarters of a car . Now if you had Liberty Mutual new car replacement™, youd get your whole car back. I guess they dont want you driving around on three wheels. Smart. With Liberty Mutual new car replacement™, well replace the full value of your car. Liberty stands with you™. Liberty mutual insurance. Lululemon trying to bounce back one day after the stock got slammed on the companys disappointing guidance. Listen to what jim asked the ceo last night on mad money. Laurent, after a fabulous run, just a great, great, great comeback of lets say years, you reported a number that was good, but you gave us dramatically weaker than expected guidance. Help us here. Whats happened . The stock is getting killed. You know what, we have had an incredible q4, incredible 2016 as you mentioned. Im super grateful for the team. For first time were returning to Earnings Growth since 2013. Were a little disappointed, were not satisfied with q1. We had a slow start and were taking drastic steps to fix it. I mean, it was some day in the market. It was some interview. Thank you. He said everything is incredible. Did you say heres the problem. Theres a tremendous disconnect here. Ill say. Hes very sang win. Theyre buying back everything they can. Thats a bold statement and the company was selling at 27 times earnings and its now 29 times earnings and its inconsistent. Heres the problem, we have to say were friendly off air. Our wives were like friends. People ought to know that stuff. You know, anecdotically when you talk to your wife, you know what, i bought the new balance, i bought the sweaty betty i think that there was basically a gang tackle against lulu from the Holiday Season on. Where people said you know what, we figured this out. At the same time, there is a mall traffic store about half mall, half not. I think the real issue here, this turned out to be a fashion company, not a health and wellness secular growth story. So youve got new found risk which means its very difficult to be able to say, boom, i dont have to worry about it. You went heavy denim. You thought it was a shift to denim. When youre on your pelleton, pal, you cant use denim. This is a pelleton play. You could, but it would not be uncomfortable. Denim is hard. The woman on hiphop, thats way out of line. Do you think the market was way out of line yesterday . Do you think too hard . No, low to mid single digit positive and they got low to single digit negative. It caught every person with their pants down. I do feel this is a long time come back. He said the markets were good. He did say hes lowered the bar to the point that he can beat it. I do worry that everybody has figured out right now what lulus doing. I dont like a story that they say, listen f we had bright colors we would have made the numbers, huh . You know, if we had if our cell phones didnt catch fire we would have beaten apple. He said he seemed to say i think his words were instant changes he did. When they made made the drastic its nice the new my wife said hold off on that. Hes watching the show because of you. She said, listen, i put in cub cadet. Never said she bought a deere. Too expensive. You did say she was look at a deere though. She was. Too expensive. 30,000. Crazy. All right, up next, cramers mad dash as we count down to the opening bell. Look at the futures one more time. Well open lower. The dow had opened lower by 20. It is though set for the longest quarterly winning streak in ten years. Since 2006. More squawk on the street from the New York Stock Exchange straight ahead. Yes . Please repeat the objective. Thrivent mutual funds. Managed by humans, not robots. Before investing, carefully read and consider fund objectives, risks, charges and expenses in the prospectus at thriventfunds. Com. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. And at 4. 95, you can trade with a clear advantage. Or keeping a Hotels Guests cuttinconnected. I to 35,000 fans. Businesses count on communication, and communication counts on centurylink. Uh, yeah. What is . R, larry. The whole wheelie thing. What do you mean . I just got this baby to get around the plant floor. Right, but now Ge Technology monitors every machine. Yeah, it brings massive amounts of information right to you. So you dont need that. Well, it makes me look young and uh. With it. Time to move on. Oh ill move on. Right into the future. Backwards. Youre going backwards. The futures all around us not just on your little tablet, my friend. About six minutes ahead of the opening bell. Time for cramers mad dash. You want to talk about dupont. Yeah, ed green has created magic. He created 196 ps gains at tyc when he took over. Hes taken his some of his protections, small, sent it over to fmc which has a great Crop Protection business. He gets some cash and he gets other health and wellness nutritional business. Fmc i can take the numbers up by a full dollar on this thing. This company is now batteries and ag. What a business they have got. Fmc is terrific. In the meantim