In fact entirely for those three in the green. Look at spain there right now, or italy. They may be up, i believe. Ten year note yield had been hovering around 2. 2. Moved up a little bit yesterday. 2. 24 is where we are right now. On the ten year note yield. You can see crude oil also edging above 50 bucks. Thats important because it should produce some sort of movement in the stocks. It has not. Schlumberger, the Great American the Worldwide Service company is pretty much where it was give or take a few points from the when oil was at 26. That group is the one thats lagged the market if you wanted to ask me whats the key. That group has i was going to do that later. Were just getting started. Well, its a sector key. Im sorry interrupt. But you mentioned are you interrupting . Never. Thank you. Our road map is where well get to right now. I will ask you about that key u. S. Futures pointing to a higher open. Deere surges, on the move. This after the companies came in ahead of the estimates and the in ls who follow them. A much different story for campbells soup and footlocker. And President Trump is set to make his foreign debut. He departs for saudi arabia later today. Well, stocks are still trying to climb back from the selloff on wednesday. Each of the three major indiss down more than 1 for the week. You have the dollar on track for worst Weekly Performance in six months. As you said, oil up. Should be a positive. That group has not followed as strongly as it might. Can you even call it a rally . I guess you can. We were 46 not that long ago. We dont have enough place to put it, okay . So its kind of frozen domestically. In other words, you can get a better deal than the world price because theres so much here. So were a supply kind of interesting but demand cant why do we have this glut . We cant send enough out. Theres not enough buyers out of our oil right now. So i mean i have Magellan Midstream partners on this week. A very good company. Theyre the export pipe. With we really exporting oil . We have a lot of oil coming in, particularly from where the president is, saudi arabia. They keep taking market share, but we have discovered much more oil than we uthought. Were pumping more than 100,000 barrels each month. Were in a situation where domestically, weve got a little too much worldwide that usually you dont have separation like this. But worldwide, there are places that you need oil. But just keep in mind that the oil futures have not kept up. Even though the dollar has been weak, so you would expect that old linkage. This is the group thats held back the market because theres so many of them. The last few years, theres a plethora and because of that, you see them weighing on the market at all times. Right. You say held back the market. Of course were still talking about an s p thats up 8. 4 over the last six months. About 16 over the last year. Absolutely. I guess i should have tied it into the fact that this is really at the crux. That this was a very much of a trump group. That people felt that no one liked fossil fuels more than trump. You cant find another president that liked it as much, but the problem, david, that is a selffulfilling philosophy. Now you can drill more. Theyre more aggressive. Theyre finding more. So theyre keeping a lid on oil in this country because its literally a blessing and a curse to have a president who likes fossil fuels so much. Right. By the way the environmentis environmentalists theyre looking for the blessing side. They are. The deregulation very meaningful in this industry. I always hear you enjoy hearing you talk about the Energy Sector because i learn something. Theres pipelines. They have to build four pipe lines out of the permian. Can you imagine how many people are going to be put to work on this . Four. Just to be able to get all of the oil out. Then they need a lot of pipelines and ships to take it overseas. Because our refiners are 24 7. And its an interesting kind of conundrum that isnt talked about enough. The production gains in the last year have been significant. A lot of fracking come back online. Right. And canada. What are you going to do with that oil . Well, why do we need keystone . Thats not actually for us. Thats going down and out. Right. The idea is we should be a major exporter, but were a major importer. I know it seems silly but thats whats happening. It is. Lets get back to the Broader Market itself. After a tumults you week tumultuous week, right back to business. Everybody is so trained to buy the dips. Its you would have thought it was so glib at the beginning of this socalled rally, at the end of the day, people went for the bond market equivalents because Interest Rates went down so much. The next day, they immediately came back to facebook and amazon and netflix and david, last night it can continue because because of last night. Two unbelievable calls. Marc benioffs call, a lot of the cash flow is from ecommerce. Including a big win from s. A. P. , ralph lauren. Eight out of ten retailers are using salesforce. And autodesk, they went to the subscription model, its kicking butt. Autodesk looking for a ceo still . I may be wrong in that, but i thought there were a couple of as i recall, there were a couple of activists in there. Eminence and another well, they have a guy. Yeah. Making a move on them for that would have been another one of the deals and we talk about that, where you winwin. Because the model change was very similar to some other successful model change to go software as a service. I dont want to bore people, but as you get cloud migration some companies have a Better Business models and some dont. Pure Cloud Companies like salesforce, they have had a big leg up on oracle or the s. A. P. But theyre charging. Benioff presented information on mad money about a survey, hes pulling away. Again, why does this matter . Because when you see a tech stock up 12, autodesk, salesforce up 3, theres a tremendous pin action. One other i would mention, applied materials. Gang buster number. What did they say . A shortage of equipment to make Artificial Intelligence chips. Read through, nvidia will have less competition. Lets put things in perspective. I feel like we race through i know. They make the equipment that makes the chips. Right. Which they sell to those that make the chips. This is important. A huge boom bust business, they make the machines and then theres too much machine. And then they cut back. Right. And there was something said, this is no longer a cyclical business. Because of this, david, im going to hold up my phone, which is basically a data center. Okay. Yes. This is creating a tremendous amount of year long demand. So theyre calling it a secular gain which is giving you a higher price to earnings multiple. Marc benioff he needs intelligence chips, the Autonomous Car. You have to stop thinking as that we produce enough machines it tips. Even with flash and d ram which has been the worst boom bust, theyre seeing more continuums. More demand for the chips. Theyre making some noise the Autonomous Car how many chips too many chips. The diodes, theyre talking about a cell phone penetration that basically says if youre apple, if you listen to what he said, just basically saying that everyone is going to adopt. That the 8 is a super cycle which is my read through that if they have any olead. Were on the earnings sure. Lets stay on it. You mentioned crm. I mean, it was a good quarter. Really anything interesting from benioff that you thought that was important with you or the Conference Call . Yeah. A new word not been associated with america for six years. Tail wind from the weak dollar presented a huge gain for salesforce. Now, think about this. Tail wind. So you had numbers that were inflated by a weak dollar. Get used to hearing tail wind for tech. This is monster because apple, the tail wind for apple would be a gigantic, just gigantic. A tail wind for a proctor is good too. He shocked me. We benefited from the big tail wind in the dollar. The tail wind in the dollar, been a head wind for as long as were talking. Thats going to help our international companies. And help a john deere i would assume. Well, david, didnt help it, but it made the quarter for them. This was one outside the u. S. They have plus 14 ag. Forestry is on fire. Plus 7. For the first time theyre giving you an ag and a plus number. It was up 12, attracts sellers. Deere historically does not give a great Conference Call because theyre so conservative. Its international branding and they can charge so much more because of their service reputation. The dollar goes down, theyll win there too. Quite a quarter. Read through it all. To cat or not . I would on the construction and for es tri. Theres a good read through to cat. Cat is putting out numbers that are okay. By the way china for everybody is pretty good. And applied materials, china i would say they were too they mentioned several times so my read through is that china is ordering a lot of semiconductor equipment. Thats important. We will focus when we get to it a little later on, the losers including footlocker. Campbells soup may be down thabit. I didnt think they were that bad. The one problem with campbells, even though the family any time one of the stocks is down, people rumor kraft heinz. Look, tmobile was upgraded and its basically not m a. People started to pick up the sprint and its totally m a. Tmobile was more about capital return and their ability to maintain leverage where it was and generate more cash. Return a lot more capital. Well talk about that as well. Didnt we mention dumb and dumber. They were kind of they say dumb and dumber. Theyre agnostic on those terms that john legere uses. We have to get to the president s trip. Trump will embark on his first foreign trip as president and hadley gamble is in riyadh. She has more for us. Reporter well, a few hours from now, u. S. President donald trump will arrive in saudi arabia and the saudis are excited to have him. What do they want . Well, they want a firmer u. S. Hand when it comes to tackling iran and theyre very interested in these multibillion dollar trade deals that are coming down the pike. You have the biggest names in finance gathering here over the weekend as well as some of the gcc arab leaders and other leaders all expecting to hear a message from the president. What theyre hoping for is theyre going to get more of an idea of what u. S. Security in the region will look like going forward. Of course, for saudi arabia, the biggest threat to regional stability has been iran for some time now. But of course the wild card here is the price of oil. Whether or not saudi arabia will be able to continue to Fund Economics in places like egypt or military operations in places like yemen. So some Big Questions on the horizon for President Trump as he makes his way to riyadh. Guys . All right, hadley gamble, of course well be following the president s trip all along. And the summit with a number of Business Leaders tomorrow theyre having. Hell be speaking at it, i believe, the president. Obviously, saudi arabia, jim, is going to have theyre going to take their country public not that long. I say that kiddingly but seriously, because when you take saudi aramco public, youre taking saudi arabia public. I think theres a geopolitical concern that people have to recognize. Israel is on the same side as the saudi. They go in and theyre proxy for you. This has been the United States. This has been a long time thesis for trump because but its not for obama. This has never been done under obama. Hes no longer the president. Obama. Just so you know. Yeah. Hes out. All right, when we return, salesforces Ceo Marc Benioff has many reasons to smile after his companys earnings beat. Hear what he told jim about the cloud. Oh, a lot of other things. Including im sure his love for me. We have a lot more to tell you as well this morning. Look at futures. You can see were headed to the higher open. More squawk on the street live from post 9 when we return. You have access to the right information at the right moment. And when you filter out the noise, its easy to turn your vision into action. Its your trade. E trade. Start trading today at etrade. Com our 18 year old wase army in an accident. 98. 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. A used car, salesforce shares moving higher in the premarket, this on better than expected Quarterly Results helped by the cloud based products of course. The Company Raised the full year guidance. Last year on mad money, ceo benioff told jim how it fits into the transformation of the retail. Eight of the ten top ten are on the salesforce commerce cloud. Every retailer is going through a huge transformation from being primarily being brick and mortar based and going online. And in some cases theyre doing both. Linking their retail physical presence with online. That is really powerful and were doing all that through the salesforce commerce cloud. Salesforce commerce cloud. Should be three acquisitions in the last year. You can say the exact target is helped too. But what hes been able to do is what no one else has been able to do. Even though hes great partners with Amazon Web Services you know how you go to amazon, if you like that book, you might like this. Retailers have lacked that. Using einstein his Artificial Intelligence unit, he has now got retailers saying the same thing to you. If you go to deckers and you like uggs, you know what goes with uggs is this. So theres a prompt. For the first time, others besides amazon have Artificial Intelligence to be able to figure out what youve done. What you bought before. And what we think youd like. So its pretty much if you want to catch amazon or stay in the business, you have to use the einstein commerce cloud. It was a remarkable transformation. And he mentioned ral by the way, came out swinging like i had never seen him. The s p and they have to stop lying about my record. What hes saying, listen, you can look at idc, not him. The record is so clear about the share take, about up for Customer Relations management. It was a remarkable quarter because they blow it away, at 100 million in revs and nobody does a thing. Its not on takeover fluff either. Theres been a premium in the stock in the past because of some questions as to whether he might be a seller. That doesnt even seem to come up anymore. Its sacha nadella, its bad blood there. Remember the benioff joined the people who were saying that sacha maybe shouldnt have done linkedin. Competition about that. Theyre talking about 20 billion in revs. He has 14 billion in unbuild and build which as we know from the balance sheet, thats his money. So anyone who thought that this company wasnt profitable, operating cash flow is tripling. Unbuild deferred revenue then build it. Add the 5 billion build. 14 billion. So everyone thinks this company is not profitable or theyre building the largest tower in San Francisco because their eyes are too big for their head. Listen to this Conference Call. Because this all came together very quickly when he bought demand ware, he bought crux. What happens this is a good one. 21st century fox uses none of its kind of a centralized form that everybody has to fill out. And it was a remarkable quarter because just like he said about ralph lauren which was a shop that was an s. A. P. Shop. Won it back because ralph lauren was not ralph lauren himself wasnt happy with the way that they were coordinating a worldwide build. If you buy a purple suit, maybe you want some purple shoes. Coming up, we have jims mad dash. More squawk on the street. Hello, my name is watson. I am helping 8 million taxpayers get the largest refund they deserve. One Million People can benefit from precision cancer care. 197 million passengers can fly with less turbulence. I am on my way to working with one billion people. I look forward to working with you. With this level of intelligence. I am on my way to working with one billion people. Its a supercomputer. With this grade of protection. Its a fortress. And with this standard of luxury. Its an oasis. The 2017 eclass. Its everything you need it to be. And more. Lease the e300 for 569 a month at your local mercedesbenz dealer. Mercedesbenz. The best or nothing. Remember here at ally, nothing stops us from doing right by our customers. Whos with me . Were like a sports team here at ally. If a sports team had over 7. Im in. 7,000 players. Our plays are a little unorthodox. But to beat the big boys, you need smarter ways to save people money. We know what you want from a Financial Company and well stop at. Nothing to make sure you get it. One, two. And we mean nothing. Are you ok . What happened . Dad kinda walked into my swing. Huh . Dont you mean dad kind of ruined our hawaii fund . I thud go to the thothpital. There goes the airfair. I dont think Health Insurance will cover all. Of that. Buth my fathe without that cash from aflac we might have to choose between hawaii or your face. Hawaii what . Haha. Hawaii you might have less coverage than you think. Visit aflac. Com and keep your lifestyle healthy. Aflac welcome back. Squawk on the street. I see well have some members from the navy i believe. Mixed in there with nypd and other officials ringing the opening bell this morning. Lets get to the mad dash now. About 6 1 2 minutes before we have the final trading day of the week. Well talk footlocker. Not a good story at least this morning. It has been previously one of the names in fact you point out so many times that its defying the trend at the moment. Im going to preface this by saying and then there was one. Only childrens place was good in the mall. Maybe gap. Richard johnson is one of the most respected ceo. We dont know the whole story, but he said the First Quarter was one o