One of the key issues this election season. Weve got a debate on whether strong jobs data has been you 00 hiding economic weaknesses. After the bell, a read with American Express, united continental, qualcomm and more. Just to name a few. We begin with oil hitting a 26year high as the president meets in saudi arabia. Just under 43 a barrel today. Significant. Its not as low as we were earlier in the year. 26. Its still not at the 60, 70, 80 that people are talking about. Oil prices are still low. Theyre going to stay lower for a while. And that is causing problems for saudi arabia. And the problems, the kingdom had to slash its budget. We know that. Its also coping with a shrinking gdp. It quietly sold some bonds for cash this year. And downgrading the sovereign and downgrading seven of its banks. While theres also been a struggle to keep cash reserves at a certain level so the Saudi Arabians can keep their currency to a dollar. The ipo looks like its going to have a speedier time line. People are talking about early 2017 for the ipo. And the market is taking that as a signal that the Saudi Arabians need cash because of low oil prices. The stake is a Game Changing move. The saudis are a nation that have proudly kept control of their oil. And also theyre not particularly transparent, guys. While a sale wouldnt include saudis oil reserves it still makes a statement to investors that cash is king in this environment. All of this coming after the doha meeting where no production needs were achieveded. Initially, short term, were probably going to bounce around this 40 range. The bottom line, even if the saudis have an ace up their sleeve and they can hold out and endure as they have told the market, or its hurting them and that is why theyre coming to the market. These are things to consider as the president is coming to the region. Thank you, jackie. Steven short. You heard about that the saudis not being one of power and leverage. How should we read with the president over there, all of these machinations and its impact on price . Well, certainly, we have to take into consideration its not price alone driving the saudis decision to walk away from doha. And we have to keep in mind this is as much do with geo politics and theology as with price. Were looking at the greatest chasm between the sunni side of opec and the shia side of opec. With regard to rumors that iraq is hosting a meeting next month there is no way the saudis are going to throw the oil bulls a live preserver. Theres no way the saudis cannot afford to underwrite in the global market. This is the hegemony of fighting for market share going to asia. This is a war on many different fronts, hence, why we cannot expect saudi to increase production anytime soon. It might not increase production, steven. But what youre saying basically theyre willing to give up price, to freeze out potential and other members to take the market share. Doesnt that go to the Lower Oil PriceGoing Forward or is there impact not as large . Im certain weve not seen the bottom of oil yet. Were in the midst of a rally. The rally is being fueled by a short yield in this market. For every one bearish specula speculators have purchased nine. As you look forward, iran, iraq, everyone is going to continue to produce or go to the main glut on the global market. Now, here in the United States, we are on track, by the end of this year, production here in the u. S. Will be below 8. 4 Million Barrels a day. Thats 1. 2 lower than where we were a year ago. Keep in mind, were still looking at a global market. U. S. Imports are up 30 . Who has filled that chasm . Our friends to the north. This is good news for the canadians. Were not going to be dry of oil anywhere in the future. Certainly not this year and 2017. Yes, i do like Lower Oil Prices for a longer amount of time. Steven, thank you for joining us. Oil price is 26season high. Bill cohen will talk to us about u. S u. S. saudi relations. Cocacola shares falling for a straight quarter. Its viewed as a stable dividend because of the 3 plus yield. You know, yes, there are some stirrings that maybe were seeing a little bit of a turn in this very hot dividend trade. If you look at the etf, its been one of the best performing strategies really of any out there. Its understandable, buy yield, sell low, this is basically a world that is scarce of yield. You look at reliable. Luke at the big blue chip stocks like cocacola or other staple stocks and really anything perceived as a stable business. And people flock into it. It say little bit of a reminder that you cannot guarantee or insulate yourself from volatility just by owning a highdividend stock. Cj technology, the disk drive Memory Company had a 20 yield. Now the yield so far 9 . A little more tame and relevant example. General mills is down 5 . A 3 yield. A downgrade of hersheys. Another stock around a 3 yield. And youre basically, if you care about the trading price youre giving up a years worth of yield with one days move. So, thats really all you have to keep in mind. If youre happy to collect a dividend, thats fine. Be aware of expensive blue rich chips. Kelloggs, mcdonalds, theyre trading at 25 earnings. Its a little rich. Be aware that youre going have bumps along the way. And old tech is an interesting example. Its not perceived the same way in terms of safety. Intel, ibm and cisco have all yielded. Thats interesting, people say, i thought i was getting a 3 yield. We have todd morgan from bel aire investment advisers. Rick santelli joins us out of chicago over at the cme. Welcome, everybody. Todd, first to you, for a lot of people counting on this safe part of the market dividend players. What are you recommending here. Well, i think the dividends have been terrific, giving people a handsome return so far this year. Theres rotation now going into financials and going into energy because of the surprise move in energy. Ive got an old saying that the market will do whatever it can do prove people wrong. In january and february the markets went straight down. Subsequently, the markets are going straight up in the face of this. I think part of the reason is theres so much cash on the sidelines. Many of my contemporaries, Money Managers have sent an enormous amount of cashing and theyre waiting for the market to correct. Obviously, every buy becomes more and more difficult to achieve that. One thing that worries me if i may add this, theres a possibility always in june that the feds do tighten. If they do, i think the market will give you some sort of sharp correction over that period of time. And the other thing which bothers me which were not talking about much is this election. And i think the fear and uncertainty of what happens next, after we nominate the two people to run for president , when those debates get started, i think that there will be some unpresident ial comments and will bring uncertainty and fear to a number of people. And people will step back and wonder whats going to happen to this country. Unpresident ial comments. I think we might be used to those. In the more near term, you have this market grinding its way higher again today really. You had the vix down under 13. Threatening 12 which is really as quiet as it had gotten last summer. Where are we here in this move . Really incredible. Weve been trading very technically, not fundamentally at all. Direction has been chosen by that handcuffed central bank by those high cash levels. Weve seen i think 15 billion come out of the Hedge Fund Market in the First Quarter alone. And by high short interests. The high of the s p is what, 2130 . I think theres a bunch of bus sta stops to 2130. I see no reason we dont see 2150. Rick santelli, we have meetings coming up next week. The bank of japan. The federal reserve. We talked about eric rosengrin saying markets are expecting us to do more. You no what, i do think the meetings coming up is like turning the flame up on your water when youre trying to boil more water. Its definitely going to turn up the ken nettic energy. This is my hypotheses. The market is outrunning the fundamentals. Lets look at what we have left. The grinding in stocks is super bowlish. I think that we are really in a perfect spot for stocks. And i dont necessarily look at these charts and think that i can make a good case fundamentally, but i can make a good case technically, as steve pointed out. Listen, were only up six basis points. Were at 186. Havent closed with a 180 handled. 2, 5, 10s, dollar index is weak. Multinationals love that. It doesnt end there. Look at a corn chart. Look at a cob chart. Everything is starts to move. If it wasnt all the history, important to me regarding Central Banks, id look at these and say buckle up we can be at the s p by tomorrow. Heck, we could be there at the close. Were that close. Some of the investors are underestimating how fast this could happen. You know, rick, i wonder if that means, if you say you werent so wondering of what the Central Banks are up to that we are rallying in that mode that we think the feds got to move quicker . Boy, ill tell you, now, mike, that is such an important concept because the selffulfilling nature of the fed being nervous about the markets. The markets writing themselves is that going to bring the fed back. I dont know, i think well play that game a lot. I think the fed is f. A. I think they normalize. You look to at 13 basis points, the fact that our yields today alone seven basis points. The u. S. Markets leading the charge. Im telling you, this looks serious on the charts. Its not one market, its all markets. Hold on, stocks are going to explode here. Quick last word. Speaking of that picture, you saw it in the last week. Economy is 3 and 14 on those Economic Data points. As for eric, you know he was trying to talk up the dollar. Well the dollar index is moving high. Yesterday was a different story. Below 94. We try to keep it around 95. Thanks for joining us, todd, sarge, rick, watching the markets with 45 minutes to go across some levels. Not even just in, some of the names you referenced earlier. Markets gotten no cheaper with this correction in the last six months or so. American express well hear from, as well as qualcomm and united continental. Up next, dish network sounding off with nickelodeon and their carriage deal expires tonight. Youre watching cnbc. First in business worldwide. I could get used to this. Now you can, with the luxuriously transformed 2016 lexus es and es hybrid. Welcome back. Another day and another decent rally here on wall street. The dow bringing its closing point to 1823. S p up 26 points. And keeping an eye on the nasdaq for you as well here. Its actually up about 20 points. 0. 4. The dow is the outperformer. Heres the key map. Dow 30 stocks. United health up better than 3 there. Of course, we heard from the company on its earnings. Investors promising to laud its changes by 2017. American express, Goldman Sachs also. Meantime, dish Network Subscribers may use viacom cable like mtv and nickelodeon tonight. We have the latest on the Conference Call. Julia, what have we learned . Well, theres lastminute negotiations under way to make sure that dishs 14 million customers dont see viacoms channels go black at midnight. Viacom shares turned around and gained nearly 5 at their peak. Theyre now up about 2 . The ceo saying he does see a path towards a deal, raising some hopes that theyd avoid a blackout. Urgen made a point of stressing they not overpay for condent. In general, black hawk is not alone in this. And general content is more widely available. And therefore, the value to us and to our customers is generally down. Viacom responding with the statement over the past 24 hours hundreds of thousands of concerned subscribers have reached out to impour dish to negotiate terms. And we hope we can reach a deal. Well keep you posted ahead of the deadline at midnight. Guys. Julia, viacom stock up about 2 recently. It seems as if the market is trying to sniff out the idea that maybe it wont be so dire for viacom which people have feared a while back. Just yesterday, viacoms shares were down 8 . Things turned around during the comments from Charlie Ergen during a Conference Call. He said they hope they reach a deal and hope not to have the channels go dark. I think that speaks to a greater issue. Whats going on right now in the media business. Both sides are feeling pressure from cordcutting. And distributors. Content is so widely available that distributors just dont want to overpay. Julia, we know Smaller Networks have dropped viacom. Its interesting is it worth for viacom to stay available everywhere or hold the line Going Forward . Some of the smaller carriers did drop viacom which is worth noting. But dish, 14 million subscribers, this is not a small player. There is this issue of whether if viacom accepts lower prices they might have to lower their fees from other carriers which would be terrible from viacom. Viacom has to be careful even if they dont raise prices they dont accept lower prices which of course is what dish is pushing for alluding to in those comments. Right. Its fascinating a lot of people feel viacom one of the big guys are more vulnerable because of ratings. Just worth pointing out those ratings have put viacom in perhaps the worst position of all the cable chances. Julia, thank yous. We have about 40 minutes to go before the closing bell. The quiet rally continues to grind on. Never short a dull market. Thats what they say. Get ready, we have a boat load of earnings after the bell. Well go to what analysts are expecting. Up next, donald trump and Hillary Clinton close to home state victories in yesterdays new york primaries. Now what . Well look at the road ahead next. Month here. You should have quit while you were ahead. 32 years at this place and ive got 9 days left before retirement. Look jim, weve been planning for this for a long time. And well keep evolving things. So dont worry. Knowing whats on your mind and acting accordingly. Multiplied by 13,000 financial advisors. Its a big deal. And its how edward jones makes sense of investing. Images, videos, social updates. We call it dark data. 80 is invisible to most businesses. The ibm cloud has tools that can help see dark data and put it to work. Hello, my name is watson. Working with watson in the ibm cloud, we can help an Energy Company predict pipeline corrosion. And help a startup to use social data to predict market trends. Now businesses can get more out of their data. Thats what the ibm cloud is built for. Welcome back. Stocks still in rally mode. The dow 93. Off t just about 200 points. The nasdaq tagging along there, too. 40 points or so below that 5,000 market. Also looking at Intuitive Surgical alltime high. A better than expected earnings. Its been quite a ride for this stock. It first approached the 600 a share level four years ago. It was down to the 400s late last year and its been coming back. Also increasing its outlook for procedure growth this year. Lets check out other movers. Discover financial, the Credit Card Company shares better than 8 today. The shares of hersheys are heading the other way. Bank of america, Merrill Lynch downgrading the stock from buy, the firm citing valuations and improvements in hersheys cost structure in china, those shares down 2. 5 . Over to politics, republican candidate donald trump and Hillary Clinton sweeping the state. Twin blowouts. A little bigger on the republican side, trump, 61, john kasich, 25 . And ted cruz just 15 for republicans voting yesterday. On the democratic side, Hillary Clinton 58 with Bernie Sanders 48 . This means that donald trump will neat 57 of remaining delegatings to get to that number. Ted cruz would need 98 of remaining delegates to get there. That is needless to say, a tall order. Hillary clinton needs 29 of remaining delegates. Bernie sanders needs 71 of those still outstanding. A tall order for Bernie Sanders but not nearly as tall as the one ted cruz facing. Cruz already talking about the possibility of a contested convention for the republicans and well see how that plays out and what decisions lowertiered candidates make. Amon, real quick, whats the next state here . A group of states on tuesday, the big one is pennsylvania. Also, maryland, connecticut and one or two others voting on tuesday. Thats a big piece of the pie still out there. That campaigning already under way. Amon jabbers, thank you. Lets go to sue herera. Heres whats happening this hour. The death toll from ecuadors earthquake continues to rise. 553 people were killed. Another 4,000 were injured. And about 100 remain missing. Soldiers and volunteers have been distributing food and water to survivors. A District Court judge authorizing criminal charges against three men in the flint water crisis. Flint utilities administrator Michael Glasgow was charged with tampering with evidence and others charged with misconduct and conspiracy to tamper with evidence. A new warning for parents to anchor freestanding chests and dressers after a third child was crushed to death by a toppling ikea unit. Ikea has sent out 300,000 anchoring kits to consumers but now plans to expand it. Prince william rejecting comments that he doesnt work hard enough saying hes balancing duties as a father, and airline pilot. He said when the queen is to hand over tanks, hell be the first to accept them. I mean what do they want from him, i feel like having his hair in place or a nice suit day after day. Theyre under a microscope. Of course, theres all the travel. They did just did the first royal tour of india. They travel all over the world as ambassadors to the queen and thats not easy either. It must show the ambivalence of the country about having a royal family. You actually want to have royalty but then to say you dont work hard enough. Yeah, right, but even want it. That is the question. Although his popularity, that part