Walmart stock unchanged in the premarket. Jonathan we begin coverage in europe, where too many, its hard to reconcile rising global uncertainty with Economic Data that showing resilient economy. We had to france where greg is standing by. I want to begin with the politics. Marine le pen and the National Front touching up in the front for the second round. It has much more to do with security than it does with the economy. If you go back a few weeks, the poll showed are leaving in the first round and getting stung in the second round. Losing, somewhere in the 30 range. Her opponent would get somewhere the 60 range. It takes a much tighter race for the second round. Seeing high 50s for her opponent, low 40s for her. Theres a bunch of reasons. She has definitely had the security issue, but the incident at the louvre recently. There were riots across france after the release after the police brutalized a young man. Some of her opponents took the side of the young men who got in trouble wit
Board, pretty much all morning long. We talked to National Economic counsel director gary cohn first on msnbc and got his take on the numbers and the president s policies. Theres clearly a good februarys part of the numbers. Im not going to deny that. But on the other hand, when you look at what weve been doing here at the white house and all the ceos we brought in, whether it be exxon or sprint or intel, theyve promised an enormous amount of jobs and job creation in the United States. Those hirings have not been done yet. Those are future hirings. Were still living on the hire tgs from the normalized Economic Growth thats built into the system here. Lets bring in michael forruely. Guys, good morning to you both. Michael, walk me through. What carl just said and the degree to which expectations of a proBusiness Environment is feeding the jobs number now. So i think the jobs number now were seeing is probably just a continuation of the general trends in the business cycle. It was a very
Hit the sell button and took some profits. Were in that mode now for the last, call it since the president speech before Congress Every time we see a rally its pretty quickly met with some selling. What does that tell you . What are we waiting for to take that next leg . People want to do tonys trade. They want to take profits here and hope that they can buy it back a little cheaper. Well see whether or not that plays out. I have done that with calls and had stocks call away and havent chased them back in and waiting for them to pull back. Most cases they havent pulled back. People are afraid to get in here. Lets go to the white house quickly and the president. Hello, everybody. I want to thank each of the House Committee leaders for being us with today. Your devotion and leadership has been amazing and i want to applaud you and the diligent work of your committees to advance the Obamacare Repeal and replacement legislation that we have been talking about for a long time and that we ha
First round of president ial elections in france. Been ringingua has as the news throughout the weekend. We see her in paris. I watched the special yesterday. The question i came back to was how could we get to a world where the two established parties in france did not even make it to the second round . Francine this is significant. There will be a lot of introspection and navelgazing today from the candidates who did not make it. There are two lines of thought. First is that france is ready to reform. They want growth and a more market friendly economy. That is why they voted for a 39yearold the wants to shake things up but is not too scary. How does that explain 40 of the votes going to extreme candidates, Marine Le Pen and jeanluc melenchon. There were four candidates. You can see the old school, the republicans almost had a clear win until january when we had Francois Fillon immersed in a scandal about paying his family without work being done. Macron won because he was the most p
Its got to give at some point. It does give. That is running out of steam. The dollar rise and the basically the bond selloff. You think thats going to run its course . I do. I think were still going to be anchored to europe, scott, and i think theyre going to be providing an awful lot of stimulus over there. Pushing on rates still. This is what draghi said. Im telling you what he said. He has put that trillion dollars where his mouth is. He will continue to put the additional 700 billion that he has potentially there. I think those are catalysts for lower rates over there. Weiss, im talking about over here, doc. You know, were anchored to that. How are we going to run from 240 up to 300 on the tenyear. We already are on their way up there. Tenyear yields up 65 basis points in a month. Are we going to continue that rise . Thats your question. Isnt it . Yeah. If its going to cause the stock market to wilt. Do you we agree or disagree . Partly. Im trying to be nice before the holiday. Go