above the 2900 level, but still falling 0.2%. we had the likes of caterpillar falling after reporting results. not to mention the energy shares weighed on the market. the oil rally hit a wall with a surprise rise in crude supply here in the u.s. still, about 80% of companies that have reported earnings on the s&p 500 have beat estimates. a few companies coming out after the bell. we will go through those throughout the show. for now, let's get a check of how asia is expected to fare. australia and new zealand are off-line. sophie: we are looking at a subdued start to the data. plenty of earnings on tap. ahead of that, we are seeing japanese investors prepare for the long holiday break. nikkei futures pointing to slight gains. aussie looking to extend declines. concerns that the electronic picture is slowing. we're waiting on earnings this morning. gdp data from south korea due in an hour. we've had pressure ahead of that, the yuan tumbling to the weakest level since july 2017.l -- 2017. government's extra budget is not invoking confidence, falling short of 10,000,000,000,001 that -- 1

-- we've got boeing and caterpillar. stay with us. this is bloomberg. ♪ alix: this is "bloomberg daybreak." we are waiting for earnings from caterpillar and boeing. yesterday, fresh highs for the nasdaq and s&p. will we build on that? s&p futures pretty much flat. european technology stocks tearing higher. microsoft also helps that story. in other asset classes, it felt like a risk off trade when you came in this morning, but that is kind of paring a little bit. in australia, inflation really disappointed in the first quarter, raising issues of potentially seeing a rate cut. david: we have boeing earnings out now. earnings-per-share in the first quarter were $3.16. the estimate was $3.25, so that is a miss. first quarter revenue was 22.9, right on mark for the estimate. new guidance will be issued at a future date. they might have to do with the 737 max 8. just a wild guess. the big question is to what extent will that affect material business. at the moment, boeing is up a little over flat, about 3/10 of 1%. alix: caterpillar out as well. revenue looking pretty good, $13.5 billion. the e

, 4 dow comp oaptsz reporting first quarter today, boeing, caterpillar, they will be out momentarily. later today technology giants microsoft and facebook along with tesla. full analysis coming up following record rally yesterday, take a look at the numbers at the close yesterday, dow industrials were up 145 points to all-time high, one half of a percent higher, s&p 500 up 25 points, almost 1% higher and the nasdaq up 105 points, one and a third percent, record-setting day yesterday, this morning the momentum continues, futures indicating a gain at start of trading, dow futures up 33 points and nasdaq futures up 1 point currently. in europe this morning, the momentum there as well with the exception of london, ftse 100 in uk is down 18 and a half points but cac quarante in paris is up 3 points and dax index in germany up almost 1%. in asia markets mostly lower despite highs in the u.s. shanghai composite up a fraction, as we know the u.s.-china trade talks will resume on april 30th in beijing when steven mnuchin and robert lighthizer travel to beijing to continue talks. amazon and ko

focus. he will be sticking with us. up, we will be talking caterpillar, boeing, industrial reporting's earlier today. we will keep you ahead of the earnings they lose and -- earnings deluge. this is bloomberg. ♪ ♪ mark: i am mark crumpton with bloomberg's first word news. for the first time, a trump official is refusing to appear before a committee, the deputy attorney general not appearing for a deposition before the house oversight and government reform committee as he was scheduled to do tomorrow. the panel would like to have him answer questions related to commerce secretary wilbur ross's decision to add a citizenship question to the senses. president trump told reporters, "we are fighting all of the subpoenas." a libyan trump told strongman that the united states supported an assault on the country about vs capital to depose its united nations backed government. sources tell bloomberg the phone call took place after the egyptian president met with mr. trump on april 9 and urged him to back him. meeting,before that sec. of state mike pompeo said the u.s. opposes the military of

worked back into the schedule. phil lebeau, "nightly business rert," chicago. >> caterpillar rep expecte earn raised its forecasts, but higher dented margins and it sent shares of th dow component lower. margaret brennan has the details. >> caterpillar as revenumps 5% for mining and construction equipment. mining was the bright spot as revenue for that unit soared 18%, but the main focus o investors, construction sales. cat's biggest w segmeld climb just three. in the u.s., infrastructure spending at the state and local level helped fuel demand and business in china was once a source for weakness as caterpillar now grapples with more competition there. >> spring season, as you knows usually a strong selling season in china and it was stronger uean normal across t many to th chinese new year and there's been competitive pricing and that's hadome impact on our road to market shares and the expectation for t industry for the full year is for china to be up. we suspect our sales to be flattish for the year. >> china accounts for 10% of the cat's overall revenue and the worried invest

that includes at&t, boeing, and caterpillar. first, though, a rare interview with melinda gates she's speaking about women in the workplace, global health issues, and a lot more right now, though, as we head to a break, let's take a look at the biggest premarket winners and losers in th dow ♪ there are roadside attractions. and then there's our world-famous on-road attraction. if you've never seen yourself in a mercedes, you've never seen these offer. lease the 2019 glc 300 for just $479 a month at the mercedes-benz spring event. hurry in before april 30th. i can customize each line for each family member? yup. and since it comes with your internet, you can switch wireless carriers, and save hundreds of dollars a year. are you pullin' my leg? nope. you sure you're not pullin' my leg? i think it's your dog. oh it's him. good call. get the data options you need and still save hundreds of dollars... do you guys sell other dogs? now that's simple, easy, awesome. customize each line by paying for data by the gig or get unlimited. and now get $100 back when you buy a new lg. click, call,

of the markets like the industrials, for instance. >> boeing and caterpillar obviously are two extremely different story, but i think they're both very interesting and i think they report next week i think on the 24th so if i'm looking for anything it's boeing and caterpillar. caterpillar, the poster child for global growth and what's going on with boeing over the last couple of weeks again, i think earnings are fine i don't think they're overwhelmingly fantastic and to tim's point, the market's gotten so complacent. what's the difference between what happened towards the beginning to the end of december as opposed to what we're seeing now. you had huge negative sentiment and now you have thea exact same thing the other way. the fact that the viks closed at 12 today to me and the bar is set so low everyone was waiting for this earnings recession. so if you're going to have the earnings recession -- people were rooking at going negative and people look at recession as we're going negative on earnings not that we're going slightly lower and eps will only be up x percentage so i t

now? >> well if you want to put some money to work i think caterpillar, i think caterpillar is a well-known name, it's trading very cheap and its been out of play and i think you can get a two-prong approach if the china deal happens yes you neat caterpillar for earth-moving equipment and infrastructure same thing here so i think caterpillar is trading around 135ish so maybe put a little money to work but if it gets above 145 it could turn on as a momentum trade and lastly i would buy u.s. steel that company has been left for dead. it's broken and in the trash but it trades at 15.5 maybe go out three months and buy $15 so if we do get some kind of bill in the works you need steel and it's a u.s.-based company perhaps that gets a little money flows and at least with options risk is premium paid. liz: u.s. steel, 58% loss, year-over-year so you wouldn't be buying it at too rich a price give us your sense of what names might really benefit if we did again as scott mentions, you know, see something that's rare in washington, where both sides get to the same side of the aisle here. >> yeah

dumbest trade that you have ever done is to sell caterpillar. how do you show if you are chinese? okay, you don't bikiuy any props because we don't have any because of our levees. what do you do you buy and you call bumblebee, listen, this year, i will buy. you can't buy liquid natural gas because we are sold out. we'll buy coal what does the deutsche guys do then does he say - what does he say >> nearly a third of the street is on hold on cap. >> caterpillar is cheap and incredibly well run and mutual leaner >> remember the high water mark comment? you are selling at 11 times earnings and generating menace cash flow. they can't buy boeing. they're like saying listen, max don't work how are you going to make a statement if you are the prc >> caterpillar >> very under rated, bumblebee is very under rated because he does not come on what does he do? he makes real good machinery the likes of which the chinese will want in order to show good faith. >> the deutsche bank, we have been talking about him all day he better be right he's out there either one they're not going to close cutting a

bit scabious also known as bitter lettuce the plant also later serves as food for its caterpillars. as they say hope is the last thing to die which is why we are so committed to this project we think it's worth it because we think we can do some things but a very great effort is now necessary in particular changes in nature conservation and especially in agricultural policies politics. the summers in florida are only warm but also extremely well this is why some insect species in miami are defying the trend and flourishing. for mosquitoes the conditions are ideal philip started is a biologist and district mayor in miami. he has developed strategies in the fight against mosquitoes that will also protect the environment he believes education is the key about mosquito larvae in garden plants for example. people love these plants there they're easy to grow their beautiful they've got nice flowers. they're a complete nuisance hensel people make their own problems the you put these in your yard because you like them and you say turns a lot of mosquitoes around here nobody has a clue that

most here being a fact-checker here. you tweeted imaginary caterpillar machine and latin america migrant conspiracy. and approval rating. it is one thing to twist the truth but making up imaginary things? >> it is worse. what distinguishes trump from other politicians is that most politicians are fresh and twist and exaggerate, trump makes things up, these are epic lies. whoppers. he's different qualitatively from everyone else. >> let's start with the imaginary caterpillar machine. >> sure. >> a special thank this evening, i agreed to go to the caterpillar place, i want to see what a d-12 looks like. i want to go there. >> explain the problem. >> caterpillar does not make a d-12. it makes a d-10 and d-11. trump was told this two years ago. he asked them, do you make a d-12 yet? the guy said no. the president invented this machine for reasons unknown whether out of utter confusion or intentionally. >> it sounded good. who knows. >> let's talk about the imaginary approval rating. he tweeted from a lou dobbs segment that showed him of an approval rating at 55%. that poll find his r

highs after a lead in boeing, caterpillar, as the president meets with china's vice premier today midst with headlines whether close to making a deal the question is, what would a deal real palestine to yoly mea? >> it's not. it's not priced in. >> you believe something is close? >> i think we're getting close to an announcement and then we need to hear what the details are, which i said all along. i believe that will be enough once we get what the details are and where it's going to impact we suspect strongly, of course, it will impact agriculture products whether it is the machinery that goes into harvesting stuff like john deere or whether it's cargill and ad plays in the u.s. i think china gets the most lift when a deal is struck. but we're getting closer to it and it's all in the details. >> maybe, steve, there's not much action today because the market already knows about it. the market thinks it's going to happen it's already in. boeing, cat, some of the chinese internet names, baba and the likes are higher today no big shock. >> exactly you really don't know of course with preci

>>> caterpillar, better than expected earnings, boosted by the tax reform i felt that was okay if you have better instances of tax reform, you are supposed to back it out -- i don't know. make sure you join us tomorrow, "squawk on the street" is next >> all right, thank you. ♪ >>> good wednesday morning, i am carl quintanilla with jim cramer and david faber. coming up the first record closing high since september future is relatively high here caterpillar off its guidance occi is in a bidding work for anadarko and more. oil is steady as the saudi say there is no need for an immediate supply boost our road map begins with occi bidding petroleum. and trouble for boeing the maker is pulling its crafts. >> stocks at record highs but what has changed since that december's lows. david is going to kick us up on occidental >> 7:00 a.m. this morning, the company did make public to acquire anadarko a company that sought for years but was prevented from buying, or at least buying successfully when it was in a bidding process against chevron a number of weeks ago. of course our viewers know

for some industrials. caterpillar's mining revenue. the company sees heavy demand for heavy construction in quarry and aggregate equipment that will remain strong despite discipline. freeport echoed that in its call. they raise their to $2.5 billion. a bright spot for caterpillar. shocking deal news of the week. occidental increasing its bid for in an effort to $68 billion per share. i spoke to the ceo. >> we don't have to buy anything and that is the scenario people need to understand about us. we have the best portfolio we have ever had in history of our company. alix: with more is tina davis, bloomberg's managing editor for energies and commodities. is it enough? is this deal enough to beat out chevron? >> anadarko had oxy's deal on the table when they decided to go with chevron, so it was not enough for that board. occidental is trying to make the board feel uneasy, pushing them to offer more. so far chevron has been saying almost nothing. they say they will see the deal done, they have not made a counter offer, and that is what the market is looking at now. alix: it see

caterpillar today. they said it was the oversaturation of machinery here in the united states, but they also said in europe they think it's going to be worse than expected they said chooirina, the slowdo there has been particularly big. is that a look at things to come or backwards looking if you look at the green chutes, how much can you really think, okay, these are going to fully bloom? >> i think it's backward-looking, and i think, importantly, to kind of go back to my earlier comments, tempered enthusiasm is what i would recommend here this is still a global economy when you look at productivity and demographics there's only so fast that we really can grow without overheating. there's a lot of uncertainty >> companies and investors too >> investors too if you put the bar on the ground, it's much easier to step over as opposed to setting it higher and then disappointing over the course of 2019. i think there might be a little bit of that going on there in general where we're kind of in a more glass half full mode with respect to global growth this year >> what's your take on the eco

some of today'supgrades and downgrades. caterpillar was downgraded to hold from buyt deutsch bank. the analyst says synchronized global growth has collapsed. caterpillar is viewed as a llwether for the global economy. the price target is $128. the shares closed at $139.26. dunkin brands was downgraded to market perform from outperform at bmo capital. the analyst cites the stock's valuation 25% over the pastar the price is $175 and dunkin fell to $74.62. >> intel was initiated with a buy rating int new coverage nomura. the analysts cited intel's leadership in microprocessor and artificial intelligence and autonomous driving and $65 and intel crept closing in 55 $48. upgraded totters was buy from neutral at d.a. davidson and the analyst cited fewer markdowns on items and overall stronger pricing and fundamentals. price target there now $36 and shares finished up more than 3% today to $31.77. >> still ahead, looking for the big fixwi why i take a lifetime to repair all of america's deteriorating bridges. ♪ >> the massachetts gaming commission questioned wynn resorts executives in day tw

th 737 max in the 737 max problem. then you have other stories overnight, including caterpillar, which actually put out some good news overnight. did better than forecast and had a bit of a tax benefit, expecting demand from china to be stronger. at the same time, the stock which started off the day higher is now down 2.5%, so those earnings giving investors just a little reason to sell. the other story i want to talk about is the chip story. we have seen a wonderful performance from the chip stocks, the index up nine days in a row or so. that seems to be continuing today. namesl get more faang this week like facebook and microsoft. guy: let's talk more about the earnings story and what we are getting out of both the united states and europe. let's bring in marcus ashworth of bloomberg opinion. good afternoon. the earnings season is going reasonably well. u.s. stocks hitting record yesterday, european stocks, and big picture terms, not that far away either. is this earnings season known to be one that confirms the upward trajectory in stocks, or one that provides us with evidenc

facebook, microsoft and intel. big industrials, boeing and caterpillar. then there's amazon. will the market break the notion we could see the first negative quarter for earnings since 2016, propelling stocks higher plus, the big name semiconductor stock, one analyst says is about to soar. the halftime report with scott wapner begins right now. >> welcome good to have you with us joe terranov ajim 11thal margaret reed is back with us. vice president with the union bank, the private bank let's begin with the markets investors bracing for the busiest week of earnings season. a week that could determine whether stocks take that next leg up or stall out. all right, joe i'm going to read this list. intel. some of the names. intel starbucks, chipotle, 3m, u.p.s., at&t, boeing, kat, facebook, amazon, microsoft, twitter. take your pick this is the week if you were worried about earnings coming in, this is going to be the tell right? >> what i like about the way the week sets up is that you are going to get your strength at the back half of the week. i like that. i like amazon on thursday. ama

to reports products are to blame. caterpillar has turned around, 1% after a downgrade from deutsche bank that follows a downgrade last month by ubs. looks like times might be getting just a little tougher for caterpillar, but the stock market not projecting that, at least right now. guy: let's get back to the brexit story and figure out what is going to happen next. the prime minister's meeting jeremy corbyn, the leader of the opposition party, right now. we don't know what is going to was old from that meeting. earlier, the prime minister defended her strategy of making this meeting happen in parliament. pm may: i think there are a number of areas we agree on in relation to brexit. leavingwant to deliver the eu with a deal. we both want to protect jobs, to ensure we have free movement. we both recognize the importance of the withdrawal agreement. what we want to do now is find a way forward that can deliver on brexit and the result of the referendum, and ensure that the people can continue to have trust in their politicians doing what is asked of them to do. every number of this ho

caterpillar's results. julia boorstin has at&t. phil lebeau, the latest on boeing morgan, let's start with you >> you were doing that market check. in terms of the biggest drag on the dow, it's for the most part been caterpillar today with those shares down about 2%, almost 3%. a beat for the economic bellwether as revenue jumped 5% on higher demand for mining and construction equipment mining was the bright spot as revenue jumped 18% but the main focus for investors has been construction sales. so cat's biggest unit, those were up 3% you did see strength in north america. a lot of state and local infrastructure spending despite uncertainty at the federal level. but china, this was the big thing investors have been watching 10% of overall sales once again seen as a pain point cat saying that it expects industry demand for construction in china to rise slightly this year though its own growth is expected to be flat. that's because it expects to lose some market share amid competitive pricing. now factor in higher costs for labor, freights and raw materials. that's helping dense m

lost 544,000 directv customers and the stock is down 3.4%. caterpillar made a lot of money, $2.94 for a profit per share outstanding and the stock is the dow stock and it is down. look at that and you're looking at points taken off the dow industrials by caterpillar now look at microsoft and facebook. these are the giants who report at 4:00 o'clock this afternoon and that may be two of the most important earnings reports of them all in their stock prices pointed towards a blowout profit this afternoon and we will see. i got to tell you the analysts are in any way disappointed there will be hell to pay. both of them up pre- their reports. making money in stocks will be our focus today. you're not forgetting president trump. he will lead the white house shortly for a trip to atlanta where he will discuss the opioid crisis and what to do about it. he may speak to reporters and if he does, you will see it. in june the president goes to britain on a state visit, watch out for that. the visit commemorates the 75th anniversary of the d-day landings but it's also about the uk, us trade deal.

, caterpillar, not so much. we will get to that in a minute. tell me what you think about what happened to all of this overwhelming fear that was jerking around the markets on a daily basis with that headline? >> well, i think that the china trade fears turned into more optimism when you get headlines of meetings and possible resolutions. likewise, brexit becomes just this enigma wrapped in a puzzle as we still have no clarity there and we won't for some time. i think ultimately that the stock market climb will continue, we will continue to see investors pile in but as stocks make new highs, make no mistake, the bond market is giving you a much different signal as yields continue to kind of drift lower here. right now, i would be more concerned about lower yield than i think joyous about higher stocks. the two can't continue on that path indefinitely. the bond market i think right now is telling you a much different message than that of the stock market. liz: we should show the ten-year yield which is at about 2.55%. again, when we talk about the flattening of the yield curve and say th

. it would also require anadarko to pay a breakup fee to chevron. caterpillar tumbled the most in three months after impressive results failed to soothe concerns about the outlook for its other operations. fourth-quarter sales and profits eat estimates, but -- beat estimates, but inventories are growing and cap -- caterpillar worries about increasing inventory. apple supplier has posted its worst fall in operating profits since 2012 as memory chip prices and demand remain in freefall. analysts we surveyed were expecting a fall, but not such a big one. apple is hynix's biggest customer. let's take a look at some of your movers heading into the lunch break in tokyo. it is boj decision day. first-quarter operating loss, wider than expected. the global volume also falling. the stock is down 4.3%. 10%.tock has lost about more executives selling stakes in the company. tower downgrading the stock after the valuation is viewed as overcooked. kweichow erasing the losses from earlier in the session. extending the winning streak when it comes to sales. we are pretty much flat for kweichow, but get

fungus which infects the larvae of the ghost moths. >> anthony: a caterpillar that has been invaded by fungus? >> nawang: yes, it eventually takes over the whole larvae, kills it, sort of mummifies the whole thing. and then in the spring it protrudes out again. >> darren: is there any caterpillar left at the end or is it fossilized? >> nawang: it's just a fossilized thing. >> darren: meaning it's not meat. it is vegetarian. >> anthony: cordyceps are the new profit center for a culture that used to revolve almost entirely around the yak. >> anthony: this stuff costs how much a kilo? >> nawang: on average it's about $20,000. >> anthony: $20,000? >> nawang: dollars. >> anthony: that's a lot. >> darren: may i? >> nawang: yes, please. >> anthony: what does this do for you? >> nawang: supposed to increase your virility, it's supposed to cure piles. you know, even hepatitis. >> anthony: really? >> nawang: yeah. >> anthony: piles, eh? >> darren: what is piles? >> anthony: hemorrhoids. >> darren: oh. >> nawang: and the chinese athletes have been taking it for quite some time. >> darren: so they

%. caterpillar, always a sign of good things, worried about the economy in the world slowing down. caterpillar is doing well. on the nasdaq side, markets are up across the board. netflix, facebook, alphabet are up, we call them the fang stocks, but google is now alphabet. that wraps up the hour for me. i'm going to see you back here at 1:00 p.m. eastern and then 3:00 p.m. right now my friend nicole wallace takes over with "deadline white house". >>> it's 4:00 in new york. today there's new evidence of growing distrust between the democrats on the house judiciary committee and attorney general william barr. jerry nadler signaling today that barr's promise of the redacted version of the mueller report by mid april will not cut it. nadler announcing that the house di

numbers we're going to find out here in a couple of minutes. also, out today at&t and caterpillar. three dow components will cross. then after the close, you're going to hear from one of the hottest stocks in the world. microsoft as well as facebook and chipolte chipolte, by the way, has had an incredible rebound off its lows of just a year and a half ago. straight ahead here on worldwide exchange, gas prices at the pump doing something they have never done before. what could that be you're going to find out if you stick around it is your morning rbi random, but hopefully interesting and 'rba aerhis. opening your own shop? every day. i think there are some ways to help keep you on track. and closer to home. edward jones grew to a trillion dollars in assets under care, by thinking about your goals as much as you do. ♪ ♪ applebee's bigger, bolder grill combos. now that's eatin good in the neighborhood. now's the really fun part:m car. choosing the color, the wheels, the interior. everything exactly how i want it. here's the thing, just because i configured this car online doesn'

up? >> caller: golf, beach, everything caterpillar. i would love to know your thoughts on adding to my position after solid earnings and eps guidance however, in their call they warned of china challenges still. >> you know what, you know what, i got to say, nick, they have taken the risk out of that stock when they said that. i think -- i like jim up we should have him on. because he understands the world economy and that's why i thought the double-down rated caterpillar not long ago was wrong. it's an inexpensive stock with a good balance sheet and i want you to own it. phil phil >> caller: boo-yah, tgif >> is it ever. although i'm going to do this show from my apartment tomorrow. >> caller: that's a good thing i would love to see you seven days a week. always awesome seeing you. >> thank you >> caller: i appreciate all your advice and everything. >> thank you >> caller: it have a uestion, i'm thinking about investing in lockheed martin. they're up over 25% year to date do you think they've run up too much >> no. that conference call -- that conference call was the best in the def

hopefully will be in the next 40 years or so. i thought the big one was boeing and caterpillar. in we have these central banks globally, i thought caterpillar would be a lot better. i get the markets are within a whisper of an all-time high, and everybody is euphoric, but i'm not certain they should be as euphoric as they are earnings have been good. i haven't been great i heard the facebook conversation there was an interesting one the advertisers have no place left to go let's face it, if they did, they would. facebook and they warned they said if you listen to zwickerberg decelerated growth in the back half of 2019, so maybe is he telling you something. the ceo, the job that he has done there, as you are growing at, what, 70% or something >> outrageous. >> a $1 trillion market cap. is microsoft the greatest stock that not enough people are talking about? rooch peemt kuhn fousd it and mixed it up with these old technology aircraft carriers that can't turn on a dime, and they proved they can they figured it out. ibm didn't they got into new businesses, and they're getting rewarded for it

big movers with have to do with earnings. at&t and caterpillar both sliding after earnings notably caterpillar saying that their market share in china likely to be a bit lower. that impacted the prices down, 3%. boeing even though they slashed or admitted they scrapped the forward outlook, they rose on the higher earnings, even though the jet continues to be a problem for them going forward. higheranadarko screaming by almost will percent. they are in a bidding war. saudi aramco offering to buy the oil company public and they seek to break up a proposed takeover by chevron. drama. this could take the stock higher. pricing in optimism is what this is called that relate to different sectors, performing at the big start of the earnings season. the yellow line is technology. this one is consumer. let's go to the after hours and acknowledge -- technology is the one screaming higher. facebook, microsoft, tesla moving higher as these after our conference calls and details are being digested. have been getting more details on the three big tech names you mentioned, making big moves in exte

caterpillars silk is another it warms up in the cold and cools down in the heat nature spins out all kinds of fascinates materials some could even be used to heal us. every year nearly three hundred thousand people have a heart attack in germany alone many of those who survived face dealing with a weakened heart for the rest of their life. that's because the heart muscle tissue damaged in an attack can't regenerate scar tissue forms which affects the heart's ability to pump. but this might be about to change thanks to spiders they could help millions of people regain a strong and healthy heart wins in their past deciders are simply amazing when it comes to producing materials they are masters at manufacturing remarkable fibers. it's the spider silk that has scientists excited it's made up mainly of proteins and it's a biological model a strand maybe only two thousands of a millimeter wide yet it's tougher and stronger than any other known fiber. it's possible to milk spiders to yield up the silk the material is being used more and more in the field of medicine for example as a room dressin

include at&t, caterpillar, northrop grummondg. the stocks marked a complete recover friday from the nosedive at the end of last year. the s&p 500 was up 25 points, the nasdaq added 105 points, and the dow rallied 145 points. >>> drugstore chains continue to crack down on the purchase of tobacco products. rite aid says it will raise the minimum age to 21 within the next 90 days. walgreens will also increase the age requirement to 21 beginning september 1st. earlier this year the fda put walgreens on notice for allegedly selling the products to minors. cvs stopped selling the tobacco products in 2014. >>> meanwhile kohl's will start accepting items for return to amazon. beginning in july, customers can return eligible amazon items. to more than 1,100 kohl stores nationwide. >>> and your supermarket might be keeping a very close eye on your. krogers and walgreens are testing built-in shelf cameras that try to guess your gender, age, your mood as you walk be. they plan to use information for targeted ads, but it's raising privacy concerns since shoppers watched. brook? >> very interesti

. disappointing results from caterpillar and at&t weighing down trade. off about a father of a percentage point at the close. in europe, the dak was boosted by german producer s.a.p., with shares up 1%. -- 12%. the british govevernment will reportedly allow falway to play a role in the development. of it 5-g network. it's a snub to the trump administration, which has been lying boycotting the company because of -- because of its ties to beijing. it will allowed to supply some parts of that technologygy. theresa may's government has yet to formally announce the ecision but the agency was assessing more factors than just where companies are based. >> the u.k.'s telecom network, we're looking at the risks that arise from their security and engineering processes as well as the way these technologies are deployed in our national telecom networks. a flag of origin of 5-g equipment is an important but a secondary factor. >> this wednesday, that six years since the disaster in bangladesh. more than 1,100 workers died after a garment factory clamsed. the catastrophe thrust fashion brands from around the

, digging in, caterpillar looks more way to drum up revenue and heads into tech realm to monitor maintenance, tall stories coming up this morning, first top story this half an hour, google is under fire again for pulling the plug on its ai ethics board, the technology giant has been criticized over one of the board members also acting as president of conservative heritage foundation. one panel member reportedly saying that the company just pulled the plug rather than defend itself. fox news 24/7 morning anchor bret, bret, good to see you. thank you so much for joining us. google announced it has a committee to look at ethical issues on artificial intelligence. seems like a good idea, 9 days later they shut down committee because the woman that was heading it, leadership runs heritage foundation and google did not like to fact that she was conservative. >> considering that they do, they fall into the category. in this instance it was a little bit of blowback from their employees because of antilgbtq stance of heritage foundation. i don't know where that falls into artificial intel

names, including caterpillar, at&t, and boeing what a morning let's get over to the judge and "the half. >> carl, thanks. i'm scott wapner we begin with breaking news. stocks breaking above their record closing high from last september, the catalyst today, strong earnings from several big companies on the busiest day yet of earnings season welcome to "the halftime report," good to have you with us on this tuesday we're also joined by joe, jim, stephanie, and john najarian we're going to begin where else? the markets. green across the board stro stocks higher on the back of those earnings p&g, united tech, lockheed, new highs today, disney, mcdonald's, hershey, mondelez, honey well, mastercard, microsoft, oracle and on and on and on pretty big day >> it's a great day if you own stocks, which we all do here obviously. so, just breaking it down in terms of who reported today, i think if you look at coke and p&g i was encouraged by the organic growth both companies -- mid single digits which is quite nice, actually the problem with p&g is the expectations were just too high headed in.

caterpillar instead of komatsu such an easy call, right that's why i was shocked when someone downgraded cat ahead of the positivity i think that could be an ill-advised downgrade. it's not just the industrials. the retailers were rallying like crazy. what's driving them? i can think of a couple of reasons. as the ceo of walmart said in an interview with our own courtney reagan, the consumer is in good shape. courtney also interviewed terry london, ceo of macy's. he was even more positive. employment very strong he practically laughed at how cheap the stock of macy's has gotten it's selling at what he said is five times earnings. it's actually about eight times that is ridiculously cheap jeff began n macy's is a bargain with the dividend yield as terry said, look, it didn't make the estimates so it's got to be the penalty box. but the comments clearly made people feel more emboldend about the ground the second reason retail went on fire there is a belief that if tariffs go away, retail will be the biggest winners. so many had to eat the cost. of the tariffs and chinese imports. if we get a t

far in this session. boeing, goldman sachs and caterpillar all lower. caterpillar the lowest of all. a lot more "squawk alley" still ahead. feel that? that's the beat of global markets, the rhythm of the world. but to us, it's the pace of tomorrow. with ingenuity, technologies, and markets expertise we create the possible. and when you do that, you don't chase the pace of tomorrow. you set it. nasdaq. rewrite tomorrow. we segetting to patientscines in record time. at emerson, when issues become inspiration, creating a better world isn't just a result, it's a responsibility. emerson. consider it solved. is this ride safe? i assembled it myself last night. i think i did an ok job. just ok? what if something bad happens? we just move to the next town. just ok is not ok. especially when it comes to your network. at&t is america's best wireless network according to america's biggest test. plus, buy one of our most popular smartphones and get one free. more for your thing. that's our thing. ♪ >>> welcome back, everyone. i'm sue herera here's what's happening at this hour. attorney gener

concern. which side wins? fear or greed? plus, a big downgrade for caterpillar as the analyst warns it's time to have serious concerns about global growth the rocky ride for lyft could get worse today. and how the halftime investment committee fared in q1. the quarterly report card comes out today. "the halftime report" with scott wapner starts right now. >> welcome good to have you with us on this wednesday, here to debate and trade the biggest stories of the day, jim, john, pete, carrie firestone is here, the ceo of arias asset management the stocks are touching six-month extra day highs, led once again by tech, the best performing sector of the week, the month, the year thus far pete, the nasdaq is up better than 1% today. the s&p and the nasdaq are going for their fifth straight tase of gains. and we're marching towards these new highs. >> and it's far more than just f.a.n.g. those technology names continue to move to the upside whether it's intel on the chip side. the chips are on fire. i know we're going to get into that but take a look at some of these other names, a name lik

, they double downgrade of caterpillar that ubs hit it with. that's right, from buy to sell since then the stock actually rallied h it's up a couple bucks. i send it and analysts had to know about double dan and they collapse yet, we haven't been hit with anything in fact, the stock saving caterpillar and reported a good quarter next week. stocks turn out to be wrong all the time but i think cat is worth owning. buyers took the stock up almost $2 today talk about a resilient ranger. then there is one that i told you to buy that people thought i was complete idiot they think that all the time by the way, i'm responsible for everything that happened with lyft then there is home depot home depot which hit with -- so call disappointing so call because stocks can't go up if it's a real disappointing quarter at the end of february a couple of guidance at the time i argued the results would have been terrific if not for the horrendous weather didn't matter. stock fell from $188 to $180 since then though, home depot has been up in a straight line as every other indicator of retailer told

positive caterpillar is another stock that won't quit. usually that means people expect the trade deal with china is eminent. the amazing numbers we heard from united rentals last night and today when they talked, while these guys don't use caterpillar's equipment, the demand for the rentals, should be able to put up very good number at least domestically that will take people by surprise so maybe perhaps the domestic and the international size of the business have returned to growth at the same time, godsend. if you think that's the case, it's worth owning. after the close microsoft and facebook report. microsoft has become one of the great growth stocks of the year. we own it for the charitable trust and have been reluctant to take profits because we strongly believe in satya nadella facebook has like the old timex ads taken a licking but keeps on ticking. i wish they would come on "mad money" and say listen, everybody, i compromised everyone's information and hey, i told cramer everything this is another stock my charitable trust has owned forever. the home is that instagram is

caterpillar what do they know? they reported today, a good company but they're not new in the sense of knowing how to subscribe something. >> well, what's driving ownership. subscription business, we think technology company, zoom -- >> i use it. it's fantastic we power their business or media company, dow jones, financial times, the economist, right, but every single physical product is now coming off at centrally line connected to the internet and what's happening these products are becoming essentially edge devices in a network and so what companies are saying now that my products are smart one, my engineers know -- how my customers are using my product which is what the software -- they provide a service to you and what you see is every physical product from appliances from whirlpool, cars from ford, tractors from caterpillar will go through a transformation and become services. >> well, i think it's rather amazing because i think a lot of these companies will be far more lucrative. not something they should necessarily fear, correct? >> well, if you look at the software industry, the soft

caterpillar before the opening bell and microsoft and visa after the closing bell. for "nightly business report," i'm dominic chu. >> so what's next for this market now that the s&p and the nasdaq are at new highs? joining us tonight alicia levine is chief strategist at bny melon. alicia, good to have you back. >> hi, bill. thanks for having me. >> the concerns of the global economic slowdown that plagued the market in the fourth quarter last year is that a concern now. >> so it's not that it's not a concern, it's just that it looks like we've bottomed and it looks like the weaks than we saw in the fourth quarter and the concerns that we came into the year with actually are beginning to flatten out. so instead of a global, synchronized downturn, we actually have a global synchronized flattening and that actually has been very good for risk assets because it looks like we're out of the trough and with china stabilizing we'll start to see green chutes in the emerging markets and as well in europe. >> speaking of china, what would a trade deal mean to this market right now? is it already th

finishing higher. within the dow, you have decliners of mcdonald's, united health. caterpillar, united technologies, jp morgan, all gaining at least 3% on the day. >> let's take a look at what some of our market reporters were paying attention to as we head into the close. >> i was looking at a chart highlighted by sarah earlier in the day. that is the s&p 500 forming and closing in golden cross formation. that is when the 60 day moving average rises above the 200 day moving average. periodly the six-month following a golden cross is positive for the market. septembers highs right here, including the profitability of topping them. a golden cross is the opposite of a death cross, last seen in december, when a selloff quickly follows. >> good news is good news. let's try to qualify and quantify that to look at what we are seeing in euro-dollar markets and the stock market. teal lines are fed easing. we were pricing in last week more than two cuts by the end of 2020 and more than one cut by the end of this year. what we have seen now is that stocks have been able to rally even as fed easi

the night sky authorities raise the alert level in nearby towns of the caterpillar is mexico's second highest peak and the fifth highest in north america. five. time for a quick check of the headlines here at algeria as president of the disease beautifully has resigned after twenty years in office for six weeks the eighty two year old has faced protests calling for him to step down his full term was due to end on april twenty eighth. with news of the resignation led to celebrations across algeria. in the capital algiers crowds gathered in or down square where people have been protesting the past few weeks so. if we are supposed to be content with the fall of one person we won't go far our real battle is to have a state under the rule of law with democratic institutions a second republic with a real popular sovereignty because a lot of the i've got is the power of shame they must all go away they must all leave and they must be accountable we started this movement peacefully and god willing we will end it peacefully. politicians loyal to venezuelan president nicolas maduro have

, boeing, caterpillar this morning, boeing and visa after the close, facebook will report the latest numbers after the bell along with tesla. earnings are actually up 6% from a year ago, they're expected to fall 2.3% from last year. we'll have more on what you can expect on all of these later in the show. cheryl: a lot of numbers out. you also had twitter that reported yesterday and the stock actually jumped about 16% after that earnings report came out. company's first quarter profit more than tripled to $190 million, but the big news for twitter, ceo jack dorsey, we saw this with the president yesterday, president trump had a meeting with dorsey yesterday and he tweeted, great meeting yesterday. lots of subjects discussed regarding their platform and the role of social media in general. look forward to keeping an open dialogue. the president has been consider criticizing social media companies saying they're biased against conservatives. he slammed twitter earlier in the day for the platform's treatment of him and other republicans. lauren: he said he lost about 200,000 followers a

watch market closely, strongest stocks in market right now, are caterpillar and deere. the transports, that does not happen, never happened, if we're going to a recession. i suggest that they are getting better, and getting better in asia also now, guess what? a lot has to do with easy money out there. but i deal in reality, i am pretty sure we'll see a pick up in the economic stats, over next 6 months. >> governor? >> i don't know, if i have enoughic therapies tic -- expern opinion, i will say, we need to undertake a significant infrastructure revitalization program that will charge the economy. >> and by the way, reason we were so concerned about a recession coming in, that china is slowing. the e eu is slowing and fed hikg rates, they have gone away. i am go gary. we saw good retail sales number, just for last month. there are all kinds of indicators, i think that second quarter will be strong and first will be better than expected. david: we could get a china deal, i think one of the thing that is slowing up china process is this administration, surprise, there is polit