Good friday morning. Welcome to squawk alley. Im Carl Quintanilla with jon fortt. Kayla has the morning off. Dow up 57 points. Obviously the markets are our top story. Well continue to watch the race to 20,000 in the wake of the feds first rate hike as you know, of 2016. A lot going on. Donald trumps victory since that time five weeks, looking at 8 on the dow, the best postelection rally on record. Jonathan gow want is managing director. Guy, happy friday to you both. Good to see you. Good to see you as well. Tobias, people taking stock of the rally but paying attention to Dollar Strength. The lack of real policy specifics as of now. Obviously memories of how bad last january was. When do we know when this rally is over . We think its a bit overdone near term at the moment. Interstock correlation, top 15 names in the s p 500, is around 10 . Thats one of the lowest levels weve seen in a number of years. Historically when weve gotten this, the market seems to get a bit tired and we start
Jay, i think john kasich reiterated his antitrump stance over the weekend. But he was joined with a whole bunch of other republicans, grassroots followers of the party, they say they are traitors and have abandoned the party at the very moment when the party needed them and the voters wanted them. A lot of Party Leaders are realizing their nominee isnt there for the republican brand. Hes there to get elected himself. He shrinks his base all the time. They have to worry about their own party. Let me just jump in one second. You are saying donald trump doesnt represent the party . It doesnt seem like things that he stands for arent necessarily what republicans have stood for for the last 2030 years. Thats been an uncomfort position for a lot of republican leaders. They are seeing a guy out there who is a re clues in terms of what he says, he attacks his own party. Paul ryan in my opinion is doing his job by focusing on his races. Its his job to preserve the majority. Charles i think its
Obama faces tough factions in syria and iraq. Cnn sources confirm that intelligence are gathering information for a possible strike. Meantime, secretary hagel says the threat from isis is nothing like the u. S. Has seen before. In the wake of the brutal murder of james foley, hagel and the joint chiefs of staff are looking at every option. Congress member ed royce is joining me and Doug Oliphant me. Isis will be defeated only when confronted in syria. Do you, sir, support air strikes in syria . Yes. We for some time have made the observation that the use of armed drones on isis leadership in syria, the support for the Free Syrian Army and i think strikes at this point, against the syrian isis which is bled into iraq. Those steps should be taken and had they been taken some time ago, i think isis would not have as much influence on the ground as it has now. Douglas, can we finiwin this battle with air strikes alone . I believe you need support on the ground to let the bombers know what