Good morning welcome to squawk alley. I am john ford with holly evans. After a series of wild swings in the market, major indexes are higher but not across the board. Dow up 240 the next guest says the fed is partly behind the mayhem the past couple days as the president tweeted about market volatility in the old days when good news was reported, stock market would go up, today when good news is reported, stock market goes down big mistake and we have great news about the economy Tom Mcclellan joins me start with the fed, you think theyre in the middle of this . Good morning. Yes, the president is right. But the link between that and the economy is not as strong as people think what most dont understand, there are two fundamentals that govern movements of stock market first is how much money is there, the second is how much does the money want to be invested the fed is in charge of mostly the first one. I brought a chart. Whats not reported, the fed is selling assets last week they dropped 20 billion in one week in terms of total holdings of treasury and Mortgage Backed securities this is unwinding of qe, and theyre expecting the bank system to absorb that, and that creates a pocket of liquidity. The market had ill ly quid tee response are things tightening up or is there a liquidity issue the bank system has to adjust to 20 billion being missing because the fed yanked it away we remember how much occurred when we pumped it into the system most dont remember in 2008 the fed decided it wanted to drain the system and unwound a bunch of liquidity in team for the biggest financial crisis in years. I dont know how the fed gets out of the problem of 4 trillion in assets, and this quarter they plan to do it 20 billion a month up from 10 billion a month last quarter, hope to get up to 50 billion a month eventually i dont think they can keep on that path if they cause these i will liquidity events. Tom, to dig into that further, theres a lot of focus is the fed going to raise rates more than expected this year what youre basically saying is the bigger risk is unwind of the unprecedented Balance Sheet. Where should investors be putting money if this is a big concern now . Thats exactly the risk the fed is behind the curve on Interest Rates they can raise another quarter point and wont bother anything. It is yanking money from the bank system to drain that Balance Sheet that the fed has that creates the i will liquidity that the market is not prepared to absorb we are looking for a top in march. The top you saw in january and sharp decline, what that was was sharp deviation from normal pattern and upward we had to have equally sharp deviation to the down side to balance things out now we can get back on trend i am looking for an unpleasant summer after the top in march, heading to august, then we will have bull market after the bottom in august tom, top in march, a bottom in august. Where are you expecting us to end up at the end of the year and what should investors be prepared for for the rest of the second half . Well, where the number is at the end of the year doesnt tell you what to do now there are a lot of miles to travel between now and then. One thing i wanted to share with everyone, this dip weve seen in february is almost a carbon copy of a dip we saw four years ago, exactly four years ago when janet yellen took office now chairman powell has taken over, the market dipped on schedule in response to that patterns line up almost exactly from four years ago til now so the steepness of the decline into the bottom four years ago was matched by steepness of the ascent going out of it i expect the same this time, but i dont expect it to last like 2014 i expect that top in march then cash in the mattress a good place to hide, those that want to play short volatility, long volatility trading game can do that if theyre nimble enough, but theres a time to be invested and time to not be invested and were coming into this summer, were going to have a time not to be invested in the stock market. Didnt Warren Buffett say always stay invested invest in the long run right . Yeah. Before we go, is the economy getting stronger now or what do you think . It is and right on schedule, and the deregulation that the Trump Administration is bringing is part of that, a bigger part, this millennial generation or echo boom generation as i like to call it, peak of that kids born in 1990, theyre turning 27, 28, catching their legs in the work force, starting to be entrepreneurial, starting businesses that Huge Population boom is a lot like what us baby boomers did in the 1980s a Dynamic Force in the economy, and underappreciated i think it will keep the economy going awhile however, the fed is assuredly going to screw up things for the stock market you can count on the feds incompetence that will create opportunities for traders, irrespective of what the actual economy does. Meanwhile, we millennials keep trying to do our thing. Tom, thanks for joining us. Thank you for doing it. Theres breaking news out of washington on the budget lets get the details. Want to give you details about a spending deal currently negotiated on capitol hill that would lift budget caps put in place by the 2011 sequester deal nearly 300 billion over the next two years, according to congressional source, and senior white house official the deal discussed at present would raise military spending by 80 billion, and spending for all other programs by 63 billion according to our sources. But in year two, those would go up defense spending would increase by 85 billion, and Discretionary Spending or all other funding would increase by 68 billion. Those are bigger up ticks than previously reported. The details of the bipartisan deal, including potential debt ceiling component are still being discussed, could be announced early as today colleagues at nbc news are reporting this could come out at noon on the senate floor, getting support in the house an up hill battle for paul ryan, Democratic Leader Nancy Pelosi asked for more assurances from ryan since the package doesnt include protection for Daca Recipients and they opposed increase to nondefense spending. Well see where it shakes out and what other elements, Disaster Relief and tax extenders are part of the package when it comes out potentially next hour. Back to you. Does it have to have anything about the wall in there or no . Im told by a senior white house official this will not include any immigration components whether they feel the wall should be tied to broader immigration reforms would be a separate deal remains to be seen so far as we hear today, it would not. Thank you for bringing us those breaking headlines ishares of aerospace and defense etf climbing to highs of the day as she reports these headlines. Wynn stock surging, up more than 10 after the chairman steve wynn announced resignation among Sexual Misconduct allegations. Contessa brewer has more are you surprised to see he resigned as quickly as he has . Reporter it is interesting, the analysts dont seem surprised at all there was general consensus among analysts i spoke to that this needed to happen for the company to move forward, but people who knew the wynns well say theyre shocked he would have stepped aside they saw him fighting the last thing. Talked to the former mayor last week, he said no, no, no, hes a fighter. You look up and down this strip, this is largely steve wynns vision for las vegas but after his stock plummeted, after the investigations have been swirling around his company, he stepped aside. The casino mogul had a Statement Last night that says in part in the last couple weeks i found myself the focus of an avalanche of negativity publicity. As i reflected on the environment this created, one in which a rush to judgment takes precedence over everything else, including the facts, i have reached the conclusion i cannot continue to be effective in my current roles. Wynn has fully endorsed the Succession Plan that puts matt maddox in the role of ceo. Maddox has been with him at the Company Since 2002 now the responsibility and role of board comes under close scrutiny massachusetts regulators are taking a close look at the board actions, not just current but past actions as well nevada regulators are taking a closer look. Harry curtis has predicted two courses of action. One that maddox replaces most of the Board Members with new, independent Board Members, or that wynn would sell assets to potential buyers a dubali analyst has a list of those that might be interested beijing may have a vested interest in seeing the balance of power tip to chinese ownership, but these are a lot of what ifs. The first challenge for the new ceo thats been by steve wynns side so long is how to separate the company from the man and push the Company Forward guys contethank you. We watched that stock, one of the better performers in the s p 500. We may have a budget deal at noon dow up 310 points. Now up 41 so far today when we return, jim carrey, deleting his facebook account and dumping stock in the company. Well tell you why after the break. We have a short amount of time to get our patient to the hospital with good results. We call that the golden hour. Evaluating patients remotely is where i think we have a potential to make a difference. barry murrey we would save a lot of lives if we could bring the doctor to the patient. Verizon is racing to build the first and most powerful 5g network that will enable things like precision robotic surgery from thousands of miles away. As we get faster wireless connections, itll be possible to be able to operate on a patient in a way that was just not possible before. When i move my hand, the robot on the other side will mimic the movement, with almost no delay. Who knew a scalpel could work thousands of miles away . You know whats not awesome . Gigspeed internet. When only certain people can get it. Lets fix that. Lets give this guy gig really . And these kids, and these guys, him, ah. Oh hello. That lady, these houses yes, yes and yes. And dont forget about them. Uh huh, sure. Still yes xfinity delivers gig speed to more homes than anyone. Now you can get it, too. Welcome to the party. Lets get to the nasdaq. Bertha coombs has more selling fever seems to have broken thats not necessarily indication we hit bottom, suggesting some volatility we have seen. Small caps edging out larger caps here on the nasdaq. We are seeing broad gains, biotech. Chips turning positive as well a lot coming from strong earnings theyre putting money into new technology gilead, 10 centsabove estimates. Traders saying we are seeing flow come into big growth reliable names but thats not necessarily translating to all names. Apple in the red as has alphabet, and theyre back in correction territory facebook also trying to move higher micron one of todays big winners. Tech stocks have been the leaders in terms of tech but in the last week, theyve only been up one of five sessions, well see if they can pull off a second one today, up better than 4 since last month. Back to you. The nasdaq is lagging a little dow is strong. Up 375 thank you. Bertha coombs. Steve liesman has headlines from chicago from evans. Evans saying the fed should keep policy on hold until midyear. Evans, chicago fed president , one of two dissenters for the december rate hike he is dovish, not in a hurry to raise rates. He supports the idea of median long rate funds of 2. 8 . Not in a hurry to get there. He is concerned about persistent factors holding down inflation rate he says the u. S. Economy is finally plenty of momentum. He notes growth is picking up. The forecast for 2018, 2. 5 , gdp. 4 to. 8 , comes from a tax cut. He sees that effect waning over time inflation going down, unemployment down but by 2020. Third fed official to speak. The other two, kaplan and dudley said they were not particularly concerned about the down graft because it didnt have much effect on the economy or on fed policy steve, looking at the outlook numbers from evans, are you surprised he is so dovish . I am very surprised he is all about this idea of what they call the symmetrical inflation goal of the federal reserve. Translation, if inflation ran cold a little while under that 2 target, not a big deal to run hot awhile he sees the economy or resources being strained by the better growth from the tax cut. He just doesnt appear to think it is a big deal and big reason to change policy outline steve, always great for your thoughts steve liesman. Spacex defying the odds, successfully launching falcon heavy rocket yesterday whats now the most powerful rocket in operation in the world. We were there, adding to history making, the space up start also successfully landing two of the rockets, three boosters, amid side booms, four of them, and cheers from thousands of onlookers. Third booster didnt get recovered, crashed in the atlantic ocean, but test pay load, elon musks own roadster, a space suit clad man can, exceeded mars orbit, headed to asteroid belt. At a press conference last night, we were there elon musk saying this will propel the private sector led space race i think it is going to encourage other companies in countries to say hey, if spacex which is a commercial company can do this, and nobody paid for falcon, it was paid for with internal funds, then they could go too i think it will encourage other countries to raise their sights and do bigger and better, which is great we want a new space race and guys, musk also said space raisces are fun. He said it was a half Million Investment for the condition, and contrary to earlier goals isnt planning to use this rocket foreman manned missions the new powerful rocket is progressing quickly. It was a disappointment, they thought he might be able to take people to the moon, do something with space travel, help nasa with man flights to the space station. Sounds like it is being pushed out a bit. Probably looking at a couple of years for that. That said, falcon 9 is already in the works with his dragon capsule to start to take american astronauts back to the International Space station, lower orbit as soon as later this year. Just the amount of hype and valuation riding on one man. This is the man behind tesla, behind flame throwers, boring tunnels. These rockets. He is not putting anybody else from any of the efforts front and center so much is riding on just him. I really, truly dont know how he does it all i cant imagine he sleeps much this is an amazing feat. Nobody thought he would pull it off. Loved seeing it everybody there, you could feel the ground shaking. Lets check where we stand in the markets dow up 320 points. Boeing leading the way, ramping up all session, s p up be right back. Cord. Well, have you seen her work . No. Is it good . Good . At cognizant, were helping todays leading banks make better lending decisions with new sources of data so, multiply that by her followers, speaking engagements, work experience. Credit history. That more accurately assess a business chances of success. This is a good investment. Shes a good investment. Get ready, because were helping leading companies see it and see it throughwith digital. Silicon valley tech leaders battling tech addition, lobbying efforts, and 57 Million Ad Campaign being brought to 55,000 Public Schools across the united states, meant to unveil both the truth about tech for more, joined by jim steyer, and Google Design artist tristan, i want to start with you. Seems like you say youre focusing on two ideas, pieces of legislation. First at the national level, markey proposing a study, research on childrens health. Then in california, hertzburg is saying platforms shouldnt allow bots to be there without being identified as bots whats the issue with the bot idea, is it the platforms job to identify bots and face punishment if they dont or just up to the user jim is focused more on the legislation. I can talk about the bots. The challenge with this is researchers estimate, academic researchers estimate 15 of twitters user base are bots most of us are interacting with these every day and have no idea you see that it is a photo of an africanamerican in kansas you dont know thats a bot from russia if the researchers can figure it out but twitter cant, why cant twitter do this. Because the stock price is dependent on telling wall street we have this many users. They dont want to admit this from the beginning because it eats into engagement numbers if we need this to be an honest, if this is about Public Square, integrity of Public Square, the idea is to clearly label dont want human impersonation when you think it is a human being but it is a robot. You need to be able to clearly label he is a robot, if he is one. And there are three pieces of legislation. The bot bill in california is transparency in democracy. You can tell this message was sent by a bot based in russia or whatever that should be required everywhere but whose job is it to verify that there are humans on the platform and robots are the company. In the past, the company said it is just a platform. Thats right. No thats baloney we will not accept that. The law as written, theyre responsible for identifying that marketing bill, Research Bill, we are conducting the biggest social experiment in real time when it comes to cell phone addiction and behavior, and theres no research. Thats a basic Research Bill that should have been done years ago. But needs to be done third major piece of legislation we have is a bill that would regulate the internet of things. Talking barbie, your toaster that takes your data alexa. Google home. All these devices in your home and kitchen sucking upda data. The public should be able to know what data they give up and express control and consent over how they give update a those are the beginning of thoughtful, common sense regulation of the area look, Tech Companies provide great benefits to society when used appropriately and wisely but there are real down sides. Everybody in the audience knows that because theyre addicted to phones what we are calling for is a balanced approach. Theres a role for common sense legislation and regulation when it comes to the broader tech industry. Tristan, as somebody that used to work at google, a Silicon Valley insider, why are you taking this position now i genuinely view it as an extension threat theres a long explanation why i have been raising these issues since 2013 when i made a presentation about how we as google have a moral responsibility in shaping where a billions people attention goes you shape their thoughts and thoughts precede action, so youre shaping society, culture, whether people have the relationship they would have intended to have, whether they sleep or not, shaping elections. Theres an entire set of consequences when you shape through design calling attention that we have these devices and that often it exploits how our minds work. We have to get ahead of this we have seen incentives of Tech Companies to maximize attention arent the same as what we need in the Public Square we have to get very serious that advertising is misaligned with democracy, when it comes to technology thats quite a statement. Jim, i was going to say couple years ago i didnt like the experience so i quit social media. I dont google things that i dont think theyre authorized to give me an answer to because we know it is junk i love g mail, use google maps all the time does this have to be regulated or can individuals themselves opt out of the User Experience isnt that how most of the time the monopolies are undermined . Good question the answer is all of the above the reason we are launching truth about tactics, we believe we can mobilize brought Public Awareness and change 80 million regular users, dominant player for media and technology forkids and familie in the u. S. , well over half the schools. We believe it comes from the ground up from folks like you disconnecting in this way, getting rid of that particular feature. We also think you have to have leadership from the top, both from the ceos of major Tech Companies individually, taking responsibility for the benefits as well as down sides of products and platforms, but also this is changing everything. This is changing our culture this is why we have an elected official in a democracy. Set a tone, have common sense regulation look, the tv industry, broadcast and cable, is regulated. Telecom industry is. For common sense purposes. We need that in the tech arena as well. End of the day, were all hooked into the system. Theyre on twitter it seems more than ever tristan, i wonder, we are in a culture where junk good and soda are huge products, fast food goes out there without labels, beer ads are in the super bowl where huge guys are crashing into each other, giving each other concussions. What makes you think that were going to change and rebel against the nanny state on this one . I think actually for this one, the reason it is going to work is because all of us feel it on the inside, we feel it inside ourselves and we feel it with our own children. So now were pointing the most powerful Super Computers in the world at our brains to suck attention out of it, so it is not enough that you use the product, i have to point the powerful super computer to adictator me to it then that stock price has to go up i have to point it at your kids. Thats not a world that any human being wants to live in, which is why this isnt a partisan issue, it is a human issue. Were all on the same team i think the reason it will change is because we all care about it i agree totally tristan, jim, we appreciate it we got to go interesting discussion going to continue. Lets go to seema mody european stocks in rebound mode, ending a seven session losing streak, rebounding after the worst daily performance since june of 2016 part of the story is better than expected data, rising growth expectation. Eu raised eurozone growth forecast to 2. 3 , up from 2. 1 from the time in november when it made the target germany among the markets negative for the year down just about 2 , despite todays rally. Speaking of germany, chancellor merkel agreed on a deal between her conservative block and left of Center Social democrats she made some concessions, social democrats would head finance and Foreign Ministry in the new government, but the partys members still have to vote to approve the Coalition Deal the yield on ten year german bond is rising, hitting multi year highs, puts this market rally into focus of course finished with earnings news, Norway Stat Oil posted better than expected quarterly profit on higher crude prices, record output sanofi down, and abn amro, that stock down 3 . Back to you. Great thank you for bringing us that seema mody, back at hq. Sue herera has a quick news update. Good morning, everybody here is whats happening new air strikes launched by russian and Syrian Government forces on a region east of damascus at least 8 People Killed the observatory for human rights says the number of People Killed since end of january has risen to 384 that total includes 94 children. South korea says the sister of kim jongun part of the high level delegation coming to the south for winter games promoted by her brother within the party last year. Pope francis praising the decision of north and south korea to compete alongside one another saying it shows conflicts can be resolved through dialogue and mutual respect. He sends a special greeting and blessing to all olympic athletes. Dunkin donuts plans to eliminate poly stie reason cups by 2020. Theyll replace them with a double wallpaper cup in u. S. Locations. Latest Fast Food Company to do so thats the news update back to squawk alley. Back to you. Were mystified about whatever dancing was going on in that video. Im not sure. Acrobatics. Thank you, sue herera at headquarters. Coming up, snap stunning the street shares we 4 aerup0 t one point. A deeper dive into the quarter and stock reaction next. Oh, and theres the closing bell. sighs i hate missing out missing out after hours. Not anymore, Td Ameritrade lets you trade select securities 24 hours a day, five days a week. Thats amazing. Its a pretty big deal. So i can trade all night long . All night long. Is that Lionel Richie . Lets reopen the market. Mr. Richie, would you ring the 24 5 bell . Sure can, jim. Trade 24 5, only with Td Ameritrade. Welcome back lets get back to the wild market swings. Dow and s p and nasdaq are in the green. With us to talk about this, gentlemen, thank you for joining us john, i want to start with you we had discussion earlier on the show about liquidity, leverage, and the idea that as the fed begins to unwind its big Balance Sheet that maybe thats a bigger risk for markets now what are your thoughts certainly theres no precedent in modern Economic Times for the amount of unwind of balancing the fed will do, but they have been very clear in communication that it will be really gradual so while we dont expect major dislocations, the effect of the low rate policy in place many years is it suppressed volatility it is likely as they proceed through the unwind excesses that built up, based on low volatility and rates are likely to be revealed, not unlike what we saw earlier this week with equity volatility. We think while it wont be a dramatic crisis, investors should probably adjust expectations to periodic bumps in the road as the long adjustment process unfolds. And mark, i have gotten so many phone calls from family members over the last couple days asking me is this a bull back, the correction pull back, a correction, where we see the end of the bull market what would you say to them well, we dont think it is the end of the bull market because many of the things have continued to keep this bull market going remain in place we still have earnings growth. We still have the synchronized global growth. While the fed is removing stimulus, we still have the bank of japan, ecb continuing to add net quantitative easing through the back half of this year we think it is unlikely we would see a recession this year and therefore it is hard to kind of put the brakes and go on it fully and go under weight stocks i think one of the things were watching closely like other people is what is happening with inflation. Thats why the ten year is key if that ten year moves above 3 , youll get people repricing equities, saying i can get decent yield in treasuries, i dont need as many stocks. John, given the move in rates, whats your outlook where they go from here . Yeah, i think in the bond market what we are seeing is the bond market engaged with Economic Cycle factors, after years with extreme Monetary Policy and low inflation were key drivers. The market is entertaining the idea of stronger growth, synchronized across developed markets, and that could contribute to somewhat rising inflation, that would encourage the fed to tighten more aggressively however, it is important to remember there are Secular Forces restraining inflation like technology, globalization, demographics so we dont expect inflation to rise above 2 as measured by core cpd our outlook is the fed continues on the gradual path theyve already communicated gentlemen, were going to have to leave it there thank you for joining us thank you. More on snaps breakout quarter when we return its time for the ultimate sleep number event on the only bed that adjusts on both sides to your ideal comfort, your sleep number setting. And snoring . Does your bed do that . Right now during the ultimate sleep number event, save 50 on the ultimate limited edition bed with adjustable comfort on both sides. Ends soon. Visit sleepnumber. Com for a store near you. We have an exclusive interview with leon cooperman. He owns amazon, facebook as well we get his take on big tech. And unusual activity from the biotech giant. Which way the stock will move. Halftime report at noon eastern. See you in about 15. Sounds good thank you. Over to rick santelli. Thank you, kelly. I want to welcome bob parks. Thanks for taking time we go back, started working at drexel in the early 80s youve seen a few crashes. Youre the equity expert tale of two cities many are doing a forensic on volatility and how the markets were so dramatically effected. I think you can give the answer, a tale of two cities the vix being the common degree. The vix was the measure, the funds were unfortunate what the public was invested in, they lost most or all of their money. And the vix was the key to the index, but not what really happened. Basically much of the money here was wiped out, but theres not a feedback loop to stocks. The vix is used as a benchmark by everybody they see vix go up, what do they do they want to sell stock. You think the Bigger Picture is the risk parody picture exactly. This is a strategy. How much is in this strategy risk parody for pension funds, at least 500 billion. What is that . You try to keep constant volatility to minimize risk, maximize returns. Hold as much stock as you can, but nervous about volatility this gives you the biggest position at a threshold you can live with . You have targets. 10, 12, 14, whatever target of total portfolio, try to keep it there by managing the risk. Heres the bigger feedback. Called volatility control. What is it this is what Insurance Companies sell to customers. It is similar to risk parody, includes the same thing as the old portfolio insurance in the 80s, not the same when markets go down, you have to sell futures. Basically you own a bunch of stocks theres an overlay this is key, folks they may own real stocks but the overlay, when you have volatility control and volatility goes up, you dont go in and sell all your individual things you cant you use derivatives or sell futures. So people that sell the stock market because the vix goes up, but that is what they benchmark the adjustment process for volatility control. Thats right. If you want constant volatility, as vol goes up, sell futures last couple days, everybody did it at the same time. Basically theres all of this talk to regulate, do all of this, it is a good idea, so many god involved that it is inevitable it occurs. It is happens when spring is coiled and gets too complacent. You and i were around in the crash, did a fantastic job managing risk, they always do, and it is transparent. Possible parbob parks, imporc thank you. Thank you very much. Coming up. Snap shares surging up 37 after Earnings Report yesterday evening. More on this breakout quarter after this feel that . Thats the beat of global markets, the rhythm of the world. But to us, its the pace of tomorrow. With ingenuity, technologies, and markets expertise we create the possible. And when you do that, you dont chase the pace of tomorrow. You set it. Nasdaq. Rewrite tomorrow. Snap is soaring and reporting a 72 increase in revenue. Shares up nearly 40 around 38 for more, let bring in jason from oppenheimer and mark at a rbc. Jason, youre a post nine. Start with you you raised your price target from 14 to 19. Its already blown there that. Didnt take long are you confident that the issues are behind . It was down from its ipo price, it bounced up and hasnt quite hit that 2014 high again sure, look, i think this is the step in the right direction. We, its the, were raising numbers 18 and is the. The past several quarter, weve cut numbers. Really, the point is weve shown they can grow out of the top 100. Twitter has struggled to grow out of the top advertisers they gave a statistic, up 100 from the quarter so to tell you, we auked to companies who make technology to help buying twitter, snap chat et cetera, they didnt even see this so really, this isnt just like its advertiser 105. Theyre making traction down market and thats interesting. Mark, your price target now 21 on this stock. It was at 15 the user growth outperformed a lot of peoples expectations when are we going to know whether this is a new trend or if its just a one off for them . Are you confident one way or the other . You know, were not going to know for a couple of quarters. I think that most important question that investors have to ask themselves is there something to believe that this change is sustain bable and we think theres sofrt three or four factors look, the act design, redesign, is still in process. Only rolled out to about 25 of users. Theyre seeing about 40 increase in usage of the media site the publishing stories on snap and thats where the real advertising opportunity is so that still has to play out. Also on the ruuser side, what started to improve was the rest of the world users they seemed to be fixing their android problem. Just like facebook and its ipo had mobile problem snap chats problem was android. This was a company that was too ios focused and didnt realize that if you leave the u. S. , almost everybodiy uses android we think weve done that we have they have done that and now they can continue to roll that out we think t still sustain bable user growth should continue to improve for the foreseeable future weve got a shift for automated aupction process. We have the company on the Earnings Call saying theyre seeing more User Engagement with those ads. With that sponsor content whats to say this company isnt as vulnerable to issfacebook ise sns. I dont think anybody would say facebook is having issues. Youre talking about the social engagement factor. You know what, what im talking about is the fact that you now have more and more calls of regulation. You have pressure on facebook to bretter organize its news feed and make sure things like russian operatives arent able to target its user how is snap not vulnerable to the same thing if youre talking to people who arent old enough to vote, its probably less of an issue fair enough the redesign does address exactly that the criticism of snap was its too hard to use. The social content is here professional content is here the redesign tries to bring it to one place it tries to use an al gor rhythm to help source it. People are calling it, is social media addictive. Are we ruining our children. Thats question for snap what kind of content are being put in front of our children i think its a different issue than facebook, which is trying to subvert facebook for other agendas. So many ways to ruin our children, so little time thank you for joining us coming up on the Halftime Report, legendary investor coop big tech mvo anybody can make a difference. Its easy to give back. Its just a little bit of time. Ill stand by you. Mvo with everything that is going on around us and in the nation, we need to work together. We need to do it more often to help people that need help. Ill stand by you. Like you do sometimes, grandpa . And puffed. Well, when you have copd, it can be hard to breathe. It can be hard to get air out, which can make it hard to get air in. So i talked to my doctor. She said. Symbicort could help you breathe better, starting within 5 minutes. Symbicort doesnt replace a rescue inhaler for sudden symptoms. Symbicort helps provide significant improvement of your lung function. Symbicort is for copd, including chronic bronchitis and emphysema. It should not be taken more than twice a day. Symbicort contains formoterol. Medicines like formoterol increase the risk of death from asthma problems. Symbicort may increase your risk of lung infections, osteoporosis, and some eye problems. You should tell your doctor if you have a heart condition or high Blood Pressure before taking it. Symbicort could mean a day with better breathing. Watch out, piggies get symbicort free for up to one year. Visit saveonsymbicort. Com today to learn more. If you cant afford your medication, astrazeneca may be able to help. Welcome back the dow is the outperformer. Boeing helping a little bit. About 1. 2 for the dow. S ps up about 1 right now. Nasdaq is lagging a little today. It is, but there are some tech names doing quite well. Thats aside from just snap which weve talked a lot about match group, perhaps ahead of the valentines day surge. Up 8 . Twitter up 5. 5 iac, which has match group up nearly 5, too. I think they reported numbers last night even. Talked about strong trends we dont have to go there. But you mentioned twitter is up 5 whats up for the year now its up about 11 for the year around 45 over 12 months getting traction. Of course it pales in come parisenetflix is up 40 . Amazon up 20 . Thats after a the turmoil the last couple of sessions. Tesla earnings after the bell elon musk, well see if that hot hand moves into t into all e Different Properties thank you for being with with us now its about time to toss it over to the half and scott wapner welcome to the Halftime Report our top trade this hour, bargain hunting. Stocks rising once again in whats been a mostly calm trading session. Our question today is whether the correction has now run its course and its safe to buy stocks with us today, jim, steve, the brothers najarian. Carrie is here, too. Well also joined by the legendary money manager, lee coopermap of o megamessage advisers lee, were so happy to have you with us today. How are you . Good. Dows up 300 plus as were coming on the air today. Can you give me your thoughts on