Cloud storage space. Yes stand by for another title wave of earnings coming after the bell tonight. This time its facebook ebay qualcomm and at t, some of the many big names set to report results tonight. Well, of course have the numbers as soon as they hit the tape and the market responds and the guideance and all the good stuff that comes out. Another big story, another big name set to report its results, petrobras had to delay numbers for months because of an enormous scandal. Michelle carusocabrera is in rio de janeiro. Ten years of corruption. What an incredible story. May have robbed them of billions of dollars in assets. Well get to that story coming up in a little bit here. Lets show you how were doing on wall street today. S p is up 10 and the nasdaq continues higher. This would be another close above 5,000 today. And i know you were noting kelly, that the nikkei hit a milestone last night as well. Thats right. Closed above 20,000 for the first time in 15 years. Notably japans index still off its record highs, bill. It does feed into this idea that we have finally seen asset prices responding to Central Bank Policy and Earnings Growth some of which had been like the nasdaq demoralized for years. Some of the things well talk about in our Closing Bell Exchange with our guests they include one jack berugian. Nathan bachrach Kenny Polcari and nancy tangler from arizona bank and trust. Thank you all for joining us. I think Arthur Cashin had it right when he said this market is like a hamster on a wheel a lot of movement but not going anywhere right now. Absolutely not. Weve been talking about it for a couple weeks. Weve been stuck in this trading range, boups range, bouncing off the highs and the support system. The market and investors are digesting these earnings which are not nearly as bad as they led us to believe. 80 beat lowered estimates. 48 of them are growing revenues. Investors seem to be okay with it. The geopolitical world at the moment seems to be quiet. Greece good another emergency funding there. Thats okay for a couple of days. Until something happens, i think it will be tough for the market to break out or break down. Nancy, what are you buying here . Last time i was on i talked about technology and that has been a bright spot. Right. And you can continue to see valuation trumping growth. I think an interesting story for today is chipotle versus mcdonalds. One company is a great grower and the other is not growing anything and its up 3 to 6 . I think were in a valuation mode where you want to stay away from the broad indices and focus on valuation. Adam thurgood what do you make of the earnings and the Economic Data weve gotten lately and how the market is responding as well. Its been interesting. The economic surprise index and the s p 500 had a strong positive correlation in 2014 when we got good Economic News the market tended to perform quite well. So far this year thats turned sharply negative which is obviously worrying sign if you believe the economy is going to improve. In the coming months and quarters, which i do. Adam just to be clear for our viewers, when you say its turned negative you mean markets arent following the economic surprise index . Yes. The s p is actually the core laying the last time i checked was negative 0. 7. When we got a bad earnings number or bad economic piece of information the market tended to go up rather than down. So that trend has revered from 2014 which is a bit concerning. You want me to go . Nathan bachrach, we talked to the ceo of Td Ameritrade, we had Earnings Reports from charles schwab. Because of the market volatility, individual investors stayed away from the market in the First Quarter. Is that a good move or not, do you think, for people that listen to what you say about the markets . I dont know that they stayed away from the markets, bill. I think they stayed put. Right. I this of it as an electric current. All of a sudden this economy of ours this electric current found a lot of resistance. If you grab the bare wire, youll still get a shock but not what it was last year at 14 . We had great real estate numbers today except when you look at how permits are likely to play out in terms of the number of housing permits issued between now and the end of the year. It will be about 1. 5 a year. Thats not enough to get housing where it needs to be especially when you look at firsttime home buyers at only 30 of the market. They need to be between 40 and 45 in order for housing to hit critical mass. That would be one example of where theres a headwind constrain the, resistance. Where the market would like to move forward. At least here in the United States its going to have a hard time getting out of the way itself. I think the challenge is for business. The American Consumer has savings. We see savings growing every month. Right. We have a wonderful, happy accident inside of peoples checking and savings accounts. Its called the savings theyre getting at the pump and when they go to costco and they find the samsung device they want to buy is a lot less. But theyre not spending it. It will take a salesman of wall street to say, i have a better this, that or a better mouse trap. Spend the money. Otherwise its sitting. The 401 k hasnt moved very much. Because theyre on a broadbased index. The challenge is on business to say, all right, let me get you spending that money. Its there. Adam let me circle back to you for one sec. What is this pattern you identified tell you about fed policy and how the mark set reacting . Fed policy is definitely going to increase volatility now, because theyve become a lot more data dependent. Fed policies had a dramatic effect on consumer psyche. Back to the prior guests point, when you look at the Consumer Confidence in the income group thats 50,000 and above, that group is over 20 points more confident today than average. While the rest of the groups below 50,000 are less confident than average. So that is very indicative of how the feds policies have benefited those that own Financial Assets and have not had a dramatic impact on those that have not. Jack berugian i know you advocate buying dips. We had a guest that said he could see dow 20,000 by the end of the year. Could you see that . I can, actually bill. One of the things people arent talking about is if bill gross is right and we see a bit of a leak in the fixed income market that money will go by way of asset allocations into the equity markets. Were already seeing it in certain areas. If it picks up steam, it will be a tsunami thats hard to stop. One thing to keep in mine markets correct in either price or in time. This market is being sideways for a while. Youre starting to get bearish sentiment out there. A lot of people who have turned into believers are becoming nonbelievers again. All of that is very bullish. And when it starts to hit, one thing to keep in mind is that you know its one of those things when you start to make new alltime highs, its very hard to get in if youre not already in. Thats one of the reasons i think buying dips is absolutely the way to go. Nancy, you brought up this point about chipotle versus mcdonalds and evaluation is the key to good ideas right now. Are you suggesting you should system with a chipotle that has better growth or saying look at the stock price and look at the names responding better im a value investor. I believe eventually good things happen to the bad stocks of fallen angel icons like coke or mcdonalds or emc. Or in here there have been a number of names, ibm that has not done anything right for a long time. Now its trading at nine times estimated earnings and you have an Earnings Report that was awful and the stock went up. So i think people are looking for valuation and trying to find a place to get in. To jacks point, because the indices have hit new highs, theyre looking for ways to get in in a valuation, attractive iveive manner. I know you have been talking about this fellow arrested yesterday in the uk on charges of causing, in part the flash crash back in 2010. I thought you wrote eloquently about it this morning on your blog. Give me a 30second riff an your thoughts on this guy. I think what it highlights is the concern weve had all along is that once again, weve allowed technology in this industry to control us versus us controlling the technology. That was made very clear in this arrest yesterday, based on what this gentleman was able to do using advanced technologies that was kind of under the radar, he broke every law in the book by spoofing and layering with creating false interest either way. This story will be interesting as it unfolds. Certainly it goes right back to the role of the human being in this whole process. Kenny, has this behavior from the time been fix, been corrected . Its been corrected in the sense that its interesting. Prior to 2010 the spoofing layering was an ethical conversation. It wasnt necessarily illegal but it was unethical. After 2010 dodd frank made that action illegal. He was doing this after that became illegal. Now it becomes a legal illegal question. That should no longer be happening. What will be interesting is how many others . This is the no the only highspeed trader thats spoofing and layering. We have to go jack. What were you going to say, very quickly. I dont want this to turn into a mentality. I use computers all day long. I dont break the law. And reality is this kenny the markets are always going to find a way to be able to cheat. There are going to be bad people whether doctors, lawyers, traders, theyll figure out a way around the system but we cant blame technology. Outlaw greed. Computers dont cheat. Its the people who cheat. Correct. I know theres more we can talk about that on that. Kelly, owl do that next hour on closing bell. Well continue to follow that story. Again, the trader fingered in all of this is out on bail in the uk. Extradition coming up in the middle of all of this. As the charges filed in the u. S. We have 50 minutes to go. We have a market up 81 points on the session for the dow. Broad market s p up almost 11. The nasdaq up 23 comfortably above 5,000. Another storm of after the bell earnings heading our way, facebook, ebay qualcomm and at t among the biggies reporting. Well bring you the results the second they hit the street along with the market response and the instant analysis from our pros. Up next the ceo of box, aaron levie speaking with us exclusively. Find out if box is a stock you need to own we we return. The eclass has 11 intelligent driverassist systems. It recognizes pedestrians and alerts you. Warns you about incoming crosstraffic. Cameras and radar detect dangers you dont. And it can even stop by itself. So in this crash test, one things missing a crash. The 2015 eclass. See your authorized dealer for exceptional offers through mercedesbenz Financial Services. [ female announcer ] who are we . We are the thinkers. The job jugglers. The up allnighters. And the ones who turn ideas into action. Weve made our passions our lifes work. We strive for the moments where we can say, i did it we are entrepreneurs who started it all. With a signature. Legalzoom has helped start over 1 million businesses, turning dreamers into business owners. And were here to help start yours. Dont just visit new york. Visit tripadvisor new york. With millions of reviews and the best hotel prices. Book your next trip at tripadvisor. Com today. I love making sunday dinners. But when my back hurt, cooking all day. Forget about it. Tylenol was ok, but it was 6 pills a day. But aleve is just 2 pills all day. And now, im back aleve. Gains across the board for the major averages with the dow up 81 points at this hour, the s p is doing best of the three percentagewise with a gain of over half a percent. The nasdaq up 22. We look at the ten sectors inside the s p 500 index, kelly, once again, Technology Leading the way followed by financials. Consumer staples are the worst performer but still higher. All ten sectors are higher. Look at that they are. Speaking of tech it will mark three months since box went public. Its still down about 20 from its Closing Price on that first day of trade. Josh lipton is in San Francisco now at boxs annual developer conference. He joins us now with their ceo, aaron levie. Josh, all yours. Bill aaron, thank you for joining us today. Were here at this big developer conference. You have about 50,000 developers now in your platform. Yes. You introduced new tools, new ways to build on the platform. Walk us through the news. Yes. Were excited to host box dev. We have 1,500 developers and startups here. The whole point of our platform is we take the same technology we take to enterprises and allow developers to introduce capabilities in their application that we power. If youre building for health care or Financial Services or retail box can dramatically improve the kinds of experiences you create in your application. Switching gears today, i want to talk about the stock, edging higher, you have about 30 since the ipo. Youre down about 30 from that high. One concern for investors is that growth rate. It was 70 . Now youre forecasting more like 30 . Why that drop, aaron . We certainly want to present kind of realistic guidance to the street that we can get comfortable with with the market. And that was the guidance that we delivered. Well do we expect to do over 280 million of revenue this year. Theres still a tremendous amount of growth in the business. Were very, very focused on tackling the massive problems of how do enterprises securely manage their data and information. The industrial companies, the federal government in Financial Services. Our platform is about making that possible and making that happen in an accelerated way. I think you had a question for aaron. Thanks josh. Hi, aaron. Kelly here. Hey. As you look to make the case for box against these competitors, one way to do so would be building and encouraging great apps on top of what you offer. The other might be a massive sales force to shoe horn all of these clients into using your technology. Which of the two do you think is more Cost Effective and youre likely to put more resources into . Yes. We certainly dont want to shoe horn anybody. The idea is we have 45,000 customers that have adopted box. Every single one of those customers is a business whether its General Electric or eli lilly ors a s aaztrazeneca. We can provide more value to the customer and the developer system. The first way is much Better Technology for developers and the other is a route to market where you can sell into 45,000 customers. Both of those are appealing to our developer ecosystem. The verticals budding the industry specific solutions, retail, finance, health. What are the costs of that . As you move into that does that mean for your investors greater r d spending does it mean you have to hire more sales people more experience sales people . How do investors think about that. Weve presented the case to investors where theres a lot of technology we want to continue to build out. We made a small acquisition last week of a 3d modeling company. If youre in manufacturing, engineering and you work with 3d designs and you want to share with them and work with them in the cloud, we have technology that makes that possible. There will be unique security solutions. In Financial Services theres a lot of interest in controlling your own encryption keys. Were building out a bunch of technology to help with that. At the same time well be investing in new go to market capabilities. We made those investments clear to the investor community. Theres excited investors about that. You had a question. I do aaron. Last time you were with us was the day you reported earnings. You took the street to task for getting your share count wrong, the estimates were wrong. People took you to task for taking them to task thinking you were too sensitive. Im curious. What have you learned . Have you kissed and made up with the analysts . What have you learned about being a ceo of a Public Traded Company now . Theres been a lot of group hugging sessions. No, we got over it pretty quickly. We just wanted to communicate and provide clarity. We wanted to make sure the information was correct. Were expecting to have certainly much more factbased outcome in the next quarter earning report. Last question youre a young ceo, highprofile ceo. You talked about admiration for jobs. Do you seek guidance from any ceos, do you call beneoff. We just got offstage with eric schmidt, the executive chairman of google. Whats great about silicon valley, you have companies that have been built up over the past couple of decades where their leaders are willing to give back to new entrepreneurs. Thats actually the same thing were trying to do with boxdev where we bring startups together that are trying to go and transform how the enterprise works. Our job is to be a platform and provide the goto market support and the mentorship for those companies provided to us by mark beneoff, eric dell Michael Schmidt and many others. Thank you for your time. We appreciate it. Back to you. Josh lipton with aaron levie out in San Francisco. A news alert from the world of sports. Cnbc reporting that billionaire tony wresler has won the bidding war for the atlanta hawks, price tag, 850 million. Hes the ceo of aries management. The hawks finished the regular season with the second best record in the nba. Its currently up one game to nothing in its playoff series with the brooklyn nets. Their management had been in disarare, their general manager danny ferry had to step aside after making racially insensitive marks about one of the players. One of the owners took himself out of the game when he discovered an email he sent that had racially discriminations remarks. I know you follow all of that kelly. Im trying to follow the playoff series a little bit. Very exciting. Theres interesting discussions going on at the ownership level about how to run a successful basketball franchise these days. Ill be following with the interest. Ask the knicks and the lakers how that goes too. Or doesnt. We have 37 minutes left in the tradin