We will hear from all of those folks. Today, it is more micro driven. E are seeing a drop in volume as we were reminded earlier, spring break for a lot of folks we see some people participating in the trading day. Averages are up off the lows of the session. Now only one third of 1 . At some of the earnings highlights and lowlifes as the case might be. Estimates,elow because of data. Since they declined reported results that beat estimates. Still seeing struggling legacy business continue to lay on the numbers and taking the charges as a result. Rising today after earnings estimates. Always a little bit good and a little bit back. Potential deals are not happening to talk about today. Bid for the unsolicited the company to create a larger newspaper company. 815 million unsolicited it, 1225 per share in cash. You do not see the l. A. Times and the tribune then there is the longstanding. Halliburton delaying its full Earnings Report until may 3 from april 25. A lot of analysts are speculating the merger might be off. Both of those companies are declining today. Facing a lot of scrutiny. You mentioned the fed meeting this week. There is no press congress and we do not expect a lot of data. He looks like Inflation Expectations are working higher. If you look at the 10 year, the yield is higher for the sixth straight session. It is part of a move we see. Also been watching Inflation Expectations. Look at the five year breakeven, we have seen an increase. Here is the increase we have been seeing. This is another gauge of Inflation Expectations on the part of market participants. Even though we are not seeing any kind of probability being priced into the market, there will be a rate increase this week and there is an increasing that inflation will start to move higher. It will be interesting to hear what the fed has to say. Lisa especially because inflation has been for so many years. Now its check on the news this afternoon. Mark crumpton has the news. Mark returning to United States after history to saudi arabia. Earlier today, the president and heads of state of france and italy and the United Kingdom and germany discussed topics which reportedly included the fight against isil, syriacivil war, and uroplasty stress refugee crisis. John kasich is falling off two Public Events in indiana after his agreement to stand aside force from senator 10 crews. He announced a deal to give ted cruz a clear path for indianas may 3 primary. He will still travel to indianapolis for a private fundraising event. A day of rallies at the n. C. State house again with a delivery of petitions signed by 180,000 people. They are seeking the appeal of a law that rolls back taxes for the lgbt community. About 200 people gathered on the grounds of the old capitol builder building in raleigh. They then got two dozen cardboard boxes and signatures into the capital for delivery to the governor. At least 14 civilians were killed when a suicide car bomb was detonated in the commercial district of baghdad. The attack in the new baghdad neighborhood also wounded at least 38 others. No group has claimed responsibility for the attack. An Attorney Says the troubled former nfl quarterback is expected to be indicted on tuesday. Accused of attacking his faces ariend in january misdemeanor assault charge that carries up to a year behind bars and was recently cut by the Cleveland Browns and dropped by two agents. News. 4 hours a day powered by our 2400 journalists and one and 150 news bureaus around the world. I am mark crumpton. Back to you. David thank you. Announces their decision on wednesday. Investors, zero probability the will hike rates and only a 10 chance of a move gathering in june. Lisa there is a probability that potentially they could cut rates. The next guest says the fed will look at Global Growth when assessing its next hike. Joining us now is the head of global strategy at td securities. Julie was just talking about inflation and she was looking at the five year for events. How big is the risk given nobody effects a hike . How big is the risk that the fed will overshoot and way too long to raise rates and that inflation will pick up much faster than they expect . I think particularly if you Wage Inflation, Global Growth. We are not seeing a lot of Wage Inflation. Maybe Wage Inflation and cpi are not that correlated. And 3 ,ally, between 1 they are not that correlated. Know that the cpi is the same. I find that a little bit odd. Actually been rising for six months. His around 3 . I think the fed looking at Global Growth, there is a risk they will let cpi run a little bit higher. The fact that it has been undershooting for that long makes the fed inflation is notorious for actually bringing back down when you want. Should the wage market start pricing in the fiveyear Inflation Expectations, they just started moving higher. I think there is a risk. Eased,conditions have they might hike in june, i think the whole inflation issue goes away, but i do not think i changed the rhetoric. I think they want to see Global Growth pick up. Certainlyflation can rise. Situates us. We have a meeting this week, mario draghi at the ecb saying essentially that central bank will wait and see what they will yield. How difficult is that make things for the fed charting fastforward here . In general, if you look at monitor policy, different from the inflation rate, they dont know how negative they can go, the problem is, we were looking at growth, we need fiscal stimulus, we kind of are getting neither with the fed has hikingd this if they are in the global context of everyone else easing, were talking about a few hikes down the road, it has a response. Think about december. They hiked in december. That happenextent in the first quarter. It is aamongst banks, greater realization that pushing on the currency front, when all you have is monitor policy, which we have been using for the last years, he may be running out of steam. Back. Take take a step until you are not forced into action, to not necessarily act to aggressively. They other central bank, global backdrop means everyone else has to, effectively. On the fed talks about global risk and you say the fed is looking more at global risk than other data, what exactly is the risk they are most worried about . Where in the world is janet yellen looking . Conspiracy theorists will tell you she us looking at any, but i think is bigger than that. The fed of the first quarter, they hiked once and talked about a very gradual state. Financial conditions to the point where we believe the Market Action is pricing in a pretty high session. Nothing is suggesting a of howon, but the extent much oil prices sell, commodity so and the equity markets sell, i think the fed has realized if theyre the only one hiking in the rest of the world, Global Growth, i say the one Market Indicator is the dollar. It is hard to say the dog is not as inflationary. Longe commodity side, as as the dollar stays within a fairly narrow range, between 94 and 96, any strengthening beyond you a generaling range, but any significant strengthening will hurt growth and inflation. David the way the fed has communicated, there has been no shortage of those speaking. The fair data dependent and they will wait and see. How do you rate so far . I think there are transparent. The struggle the market has is to essentially the different officials. I would say the core of the committee, janet yellen, and i think a few others, by taking the stance. The other things i started noticing is a bunch of them are a lot of funds rate. Why, if youhind only have to hike up to 2 , mutual funds rate, maybe you do not have to go that far. Effectiveey have been in the sense they tell us what theyre thinking. Knownt mandate, we do not the rates between unemployment and the Global Factor rates are. It is an uncertain world. I think theyre doing the best they can but it will be uncertain. David thank you so much. News abouteaking charter. With the two julie hyman at the market desk for more. Shares of both coming out. They were already expected to advance with a vote in a report to the federal communications commission. Set to submits the vote by his fellow commissioners and it looks like up here. Gotten that advancing with certain conditions. The u. S. Is said to speak in online video conditions as part of the settlement. We will get you details on what exactly those conditions to the deal and tail. We are seeing that a huge percentage gain, but you saw on the charts in big movement upward have on the headlines coming out. We will keep you posted once we get more details on what the deal entails. Moore is coming up here after the break. David this is bloomberg markets. Kasiched cruz and john have decided to cooperate in an effort to stop protrump vote. David a very contested primary to say the least here the Republican Party seemingly more divided than ever be or. How is congress doing with the turmoil . Joining us now is the vice chair of the House Committee on energy. Nice to have you here. Let me start with the news of the day. Ted cruz and john kasich essentially saying they will clear a path for each other to what you make of the strategy when it seems it is straying a little bit p will not outright tell people not to vote. Quite that is right. It is difficult when you look at trying to do those alliances. Usually, things like this do not end with the Effect People would like for them to end with p or for those of us in elected office, we have to be mindful of listening to the voters. Lisa i think the fact the alliance was formed underscores the the tension. Which view of trump is the most divisive a month republicans . Representative blackburn we have to look of the year. This is an outsider year. I said all along, we were going to have an outsider nominee and going back into the primary, it was the outsider always leading. For those of us in elected office, what we need to be doing is not saying, what position is divisive, we need to say, where theailing expectations of American People . What do they want to see action on . I am delighted that millions have come into the process to vote the cycle that have never voted before. They love their country enough to get mad about this. And to show up and vote. Theyre wanting to see action on the issue of national security, jobs in the economy, retirement security, and we hear that. In poll after poll. Rather than an issue or a policy aretion, probably what they most angry with is the lack of action of getting things done, and address coming out of washington or taking place in washington. David are you backing donald trump . Not blackburn no, i have endorsed anybody. I have said all along to look at the outsiders. They have lead going into the primary. Carly fiorina or ben carson. It has been individuals not that involved in the process. Ted cruz and rubio were outsider candidates coming to the senate. Trump, who has never run for anything. People identify with that kind of energy coming into the process. For those of us, listen and learn. The American People want to see things accomplished. David i do not know if they were rhetorical questions, but what people want, seeing those people come out for the first time in many change, has it made you rethink . It made me more committed than ever to say, look, people are sick of the 19 troy dollars worth of debt. We need to get behind it and have a game plan. Hold some votes and sent some things to the president s. If you veto it, come back and lets work on it again. Obamacare, we hear about the impact, the Affordable Care act. You all hear about that and reported. It affects Small Business owners. It has affected individual insurance marketplace. See thingso accomplished, like my legislation that handles across stateline purchase of health insurance. Over the weekend, there was news the Koch Brothers might support Hillary Clinton rather than republican nominees. What do you make of that . Had not heard i that. It is always interesting to see where alliances are formed. Interesting is more than who may or may not endorse, this year, experience matters less and endorsements matter. Ess than ever before there is a level of Civic Engagement i do not think we have seen in many years. Would go back to reagancampaign in 1980, i do not recall having seen this level of engagement. John boehner, paul ryan steps in. Have things improved under his leadership . I know it is a big litmus test for him. What has changed . I think speaker ryan is doing a terrific job here at he is listening. He comes to the floor. We are able to have good conversations and talking about things we think would be helpful out of the house and often house floor. Supportive of so many of those concepts. He is feeling with the issue of trying to arrive at numbers on the budget. I know chairman prices working with him on that. Puerto rico, finding some develop would put them into a situation where they are accountable and there is a lot of transparency around it and they do not get a bailout. I think all of us are not in favor of a bailout. Representative, thank you for joining us today. Still ahead, saudi arabias Prince Mohammed outlined sweeping economic reform plans. How will they impact the oil markets, next. David lets check on some company movers. Julie my theme is activists. Shareholder changes to the companies we are talking about. Square, that hedge fund announcing a 5. 99 stake, it is a stake in the company. Shares are up 2. 5 . We can to look at these together, twitter is lower. This is that the top holders for various companies. The seventh largest shareholder of the company, largest is kcb be, here at tiger global. Pretty High Percentage of hedge ,und ownership of the company around the same time it took its stake. Saw what looks like a unit of sequoia, as well as dans the earnings by the way from the company, on may 5. Starboard, including info blocks, manufactures a device that allows users to create and manage dynamic computer networks, a technology company. And analyst says there is perhaps room for info block to improve margins for editors. Well,g at that stock as saying purchasing Square Capital management has decided not to exercise the option to renew the term of its representative on the board, william doyle, two the 2017 annual shareholders meeting. Those shares are down by about 2 . Since they first revealed a ofke, back is a terror 30th 2014, it has had a positive return on the stock, why about 29 . Thank you. Vid still ahead, we speaking with oil and commodity markets. Now, downoil right about 2. 5 at 4268. Lisa lets get a start with the headlines on bloomberg. Firing back trump in an attempt to unify the antitrump vote. Some of the remaining president ial primaries. He told me a camp in a campaign in rhode island that ted cruz and john kasich are colluding in a way that would be illegal in many industries. Agreed in some primaries to avoid splitting the antitrump vote. 2 aed cross is eight, town under siege in central syria. It includes 35 trucks carrying food delivery kits for pregnant shampoo. Antilife the deliveries being carried out in a partnership with United States death the United Nations california, tweeting about a trial that could cost jurors. Jurors aboutg some 1500 for posing social messages on media. They should also be fined for restricting cases on google. Supporters of the bill say it would give keep to test teeth to current bands by jurors. When patriots Quarterback Tom Brady must serve a fourgame imposedate suspension by the National Football league. The decision overturns a lower or judges warning that ruling. The ruling can be appealed to a full Second Circuit court or to the u. S. Supreme court but will likely be a steep and timeconsuming climb even if the courts took an unusual step. Global move global news 24 hours a day powered by our 24 hundred journalists in more than 150 news bureaus around the world. Lisa and david, back to you. Breaking news. A federal judge has agreed to case in brooklyn involving a drug dealer. We heard on friday, the Justice Department gained access to the phone. They did not reveal who the person is who gained access to the phone. The jugular passes iphone is just one of more than 1000 they cannot break into. Anotherseems like example of how they want to go after these companies with lawsuits and yet they find alternative means yet again, raising the russian of how secure these phones are. Accordingly, the government no longer needs apple passes assistance and withdraws. Similar where the 11th hour, the government was able to get access to that phone as well. Commodity markets in new york. Lets look at some of the biggest movers starting with gold. Presession today after home sales unexpectedly declined. Growing expectations the fed would be slow to raise rates. Five oil retreating from a five rate hike. Investors are assessing reports today that they plan to expand a major field though iran increases output to an already saturated market. The highest prices and 10 weeks today. Southntense heat in the east in that limited demand. Lisa plagued by massive high inventories. One of the ways energy is dealing with the reality is to be one of the First Companies to export liquefied natural gas. Alix steel sat down with the interim ceo who helped start Morgan Stanleys commodity business 30 years ago. Lnge asked him how u. S. Explores can transform the global market. Take a listen. It is a market really