In the early trade in the european markets right now, youll see that at least at this point, there are some red arrows there as well. Looks like the dax in germany is down by 0. 4 . Right here in the United States, it looks like the dow futures are now 71 points below fair value. S p futures off by 12. Among this mornings other top story, were watching the price of oil. Crude oil under pressure again today. This follows yesterdays drop of nearly 3. 5 . That drop came after opec said Global Demand for crude would be less than previously thought this year. In Corporate News, jpmorgan reportedly wants to sell new securities that would pass along the credit risk on 1. 9 billion in mortgages. This has been left to the government for the most part since the financial crisis. The wall street journal reports the bank is expected to price the residential mortgagebacked deal over the next two weeks. And apples response to the Justice Department is due today. This is the latest chapter in the dodjs case against apple. Authorities say unlocking the phone of one of the San Bernardino terrorists could provide more information about the shooter and the plot behind the attack. Apple has claimed this would breach the promised protection of the privacy of all of its users. Both parties are due in a California Federal Court next week. Andrew . Okay. Some stocks to watch. Keep your eyes on these guys this morning. General lek tri announcing three of its Board Members will leave this year in what it calls a refreshment. Maybe thats a polite euphemism for whats going on here. The ceos total compensation fell this year nearly 12 . Also, viacom shareholders voting to reelect the companys directors. They also voted to remove Voting Rights from all shareholders. Finally, outerwall, the parent of red box, saying its going to be exploring strategic and financial alternatives. The firm also doubling its Quarterly Dividend to 60 cents a share. Big headline there. That company is now officially on the block. Lets get another check on the markets this morning. Yesterday was the lowest volume day for the markets that weve seen all year. Probably because were still waiting to see what the fed d s does. Ahead of that, a lot of people think the fed will be a little more hawk ir. The dow futures are down by about 75 points. Yesterday the dow finished up by only by about 18 points. It was its eighth positive session in the last ten. S p futures down by 12. 5 today. The nasdaq down by 22. One more time, take a look at european markets. There are some declines across the board here. Biggest decliner of the major market seems to be the cac in france. As we showed you, asia, japan ended down. It was down by about 0. 7 . Same story with the hang seng. Oil prices yesterday were down by close to 3. 5 . That was the worst session for wti since last week. Again, there are some concerns about oversupply as we hear more from iran talking about ramping up its production once again. Take a look at the tenyear note. Youre going to see treasuries. At this point, the tenyear yielding 1. 931 . Yesterday saw its highest yield level in over a month. Also take a look at the dollar. As we just showed you, the dollar looks like it is up against the euro at 1. 1077. Its down against the yen. Yen is trading at 113. 12. Gold prices saw its fifth negative session out of the last six yesterday. Its down another 1 to 1,233. 30. Well, today may very well determine if the political fates of both john kasich and marco rubio as voters in five delegaterich states will head to the polls. At stake, 367 republican delegates. For the democrats, its even more, 691. Most eyes will be on that gop race. John harwood joining us. Is it fair to say that today is do or political die for kasich and rubio . For sure, brian. Really, the underlying question is can either of these two front runners, donald trump on the republican side, Hillary Clinton on the democratic side, be stopped for these nominations. I just want to run through the scenarios, what it take for that to happen. First of all on the republican side, if donald trump is going to be stopped for the nomination, it starts with john kasich must win ohio today. Does not look like marco rubio will be able to do that in florida. If John Ted Cruz needs to pick up chunks of delegates in the proportionate states today, especially talking about missouri and north carolina. And overall, kasich, cruz, even rubio with the delegates hes already gotten, the other candidates have got to hold together enough delegates so donald trump cannot get to 1237 on the first ballot in cleveland. Thats the way you get to some kind of brokered convention scenario. On the democratic side, what does it take to stop Hillary Clinton . First of all, Bernie Sanders has got promising prospects today in midwestern primaries. Missouri, illinois, ohio. The polls show Hillary Clinton leading, but they showed her leading in michigan last week, and her team is concerned that Bernie Sanders has been able to cut into both the africanamerican and hispanic vote. So Bernie Sanders needs to win those. Secondly, he needs to start winning some states by large margins because hes got a big delegate deficit to Hillary Clinton. Both in terms of pledged delegates and super delegates. Only by narrowing that gap can he have a realistic shot. The way to do that for him, which would happen in part by the victories today we just talked about, ohio, illinois, and missouri, hes got to enjene engender a collapse of confidence in Hillary Clintons candidacy. Thats how he moves ahead as the calendar goes to places like new jersey, wisconsin, california. Thats how he develops the potential for big wins there that can make up that delegate lead, guys. John, we know that kasich hasnt won anything to this point. Even if he does pull off a victory in ohio, what does that look like in terms of potentially getting him to the point where he could win the nomination . Well, becky, its not really about getting john kasich on a path to a delegate majority. That is exceedingly difficult. What it is, is about denying that chunk of delegates to donald trump. Its really kind of a delegate keepaway game right now because donald trump has got an advantage. If he wins big in remaining states, especially the winner take all states, he cant be stopped. But if more chunks are taken off his pile of potential delicates, the more difficult it is for him to get a first ballot victory. The name of the game is denying hum a first ballot victory. After that first ballot, then delegates begin to shake loose and be able to be susceptible to some sort of negotiation. Dont know if thats going to happen. Youd have to bet if you were laying down odds today, youd have to say donald trump is likely to get there, maybe even on the first ballot. But its all about the possibility of denying him that strength. You know, john, we talk so much about ohio and florida. They are obviously very important states, but did you think were also underrepresenting the importance of illinois, which is winner take all by district, and missouri, which if you go over 50 , it becomes winner take all . I mean, theres, i think, 120 delegates for those two states right there. Well, sure. If donald trump goes over 50 in missouri, hes going to be the nominee. I dont think thats likely because of the polling. In illinois, ted cruz has always been running pretty closely behind donald trump. Again, its about ted cruz grabbing a chunk of delegates. Ted cruz isnt that far behind donald trump in pledged delegates. He just keeps losing in big state contests. But if he can grab chunks there, if he can even win those states, then he develops the possibility of getting into a oneonone race with donald trump that could go more favorably. You know, every time you isolate two candidates, donald trump and somebody else, the somebody else tends to win. So thats been the goal all along for marco rubio. Its the goal for john kasich. Its the goal for ted cruz. The challenge, of course, is that sometimes the way it actually shakes out is as other candidates lose, you dont get that pure laboratory oneonone test. You start getting trump looking stronger to voters, like trump is the winner, im going to go to him. So its a complicated scenario, but basically the nontrumps need everybody to be strong against him to deny him that first ballot nomination. John, i know this is the beginning of a long day and potentially a long night. Thank you very much for being with us that oday. You bet. For more on todays primaries, lets bring in morris reid and scotty hughes. Lets start with you. Donald trump has said if he can take ohio, hes going to run the table and thats basically over. What are the odds of that . I think its actually good. The fact that john kasich is not winning overwhelmingly in his state proves that the people of ohio dont have as much trust in him as he should after being governor and being a congressman. Maybe it has something to do with jobs. As congressman, he signed into nafta. As governor, hes lost over 112,000 jobs just to the tpp. And when we talk about ohio, this is main street. This is where the rules that have been implemented in d. C. Have an effect. Ohio has been probably affected the most. Most of these manufacturing jobs have gone out of the country, and the people are still hurting despite the numbers they were trying to tout yesterday on the campaign trail. Right. John kasich does have Approval Ratings of over 80 in his state. Then why isnt his number higher . We can talk about Approval Ratings, but when it comes to the polls, if he had that high of an approval rating, he should be blowing donald trump out of the water, but hes not. Hes done well, but there should be more than just a few points in the margin of difference. Right. Morris, lets talk about Hillary Clinton. Obviously what happened in michigan was a huge surprise based on the polling wed seen ahead of time. How confident do you feel in how shell do today in states like illinois and ohio . Well, if she looks past Bernie Sanders, shell have another shock. Im hoping her ground game, they doubled up the efforts in these key midwest states. But when she takes her eye off the ball like she did last time against barack obama and like shes done a few times against Bernie Sanders, she tends to lose. So she needs to stay focused and make sure shes concentrated on this issue. I think theres a larger issue in the ohio narrative. Its interesting because if donald trump can beat kasich in the primary, i think it will be very difficult for him to beat the democrat, presumably Hillary Clinton, in the general. As you know, no one has won the presidency without winning ohio. You mean in the state of ohio itself. Yeah, so thats really the game within the game. Its very interesting to see what happens there tonight. Why do you think that trump couldnt be hillary there if he cant beat kasich there . Well, theres a diverse electorate in ohio. If you look at northeast ohio, there are a number of minorities, africanamericans, hispanics. Northeast, highly democratic. There are some pockets of anxiety when you get in the rural areas. If he cant beat kasich, as we go into the general, where the population will be more diverse, it will be difficult for him to beat the democratic nominee. How can he say that considering the one reason probably why bernie beat hillary in michigan was because of hillarys support of her lack of, saying she didnt support nafta, which is the same reason ohio is hurting so much with jobs. So it doesnt even come close. And diversity is color blind. It all comes down to the green, called the dollar in the pocket. Ohio is hurting because of jobs. Theyre in the bottom half of the unemployment numbers. They definitely have not been a i believe to recuperate from the 2009 crash. So the same thing that killed hillary in michigan is going to hurt her again in ohio. Its the same scenario. I think what you just said is absolutely bogus. Well, let me explain it to you. If you look at the urban areas, cincinnati, akron, cleveland, those populations will go overwhelmingly democratic. The key vote will come out of either columbus and the columbus suburbs. Those tend to break for the democrats when you have a candidate that can get out a large population, particularly a population that will overindex on the minority side. Looking statistically, and ive run ohio so i know what im talking about, if it breaks that way, the democrats should win. Lets look beyond ohio. I want to get your thoughts on what happens if we wind up on the republican side with a brokered convention or on the democratic side relying heavily on the super delegates. Scottie, what happens in that scenario . Im still optimistic. I dont think well have a brokered convention. You must win eight states. If he does not get to 1237, youre looking at a situation where you could watch delegates be opened up after the first round. If you remember, these votes are voted on by the delegates. The majority of these delegates are donald trump supporters. They been elected by their states. Trump supporters are extremely loyal. When they adopt new rules 48 hours before the rnc should begin in cleveland, i imagine theyre favorable for mr. Trump at the top of the ticket. I think they wont change the 1237 ruling just because the deadline to do that has already passed. No, but were talking about when they actually go to vote. Every year you start with a clean state. Right now rule 40 is in place. Theyre going to go in, theyre going to vote whether or not to keep it the same or to change it. The minimum states weve had in the past have been four. Because of ron paul in 2012, they upped it to eight. I guarantee theyre not just going to eliminate it and vote from the familiar. You have too many delegates loyal to the front runners. Morris . Listen, the only way you keep donald trump off the ballot is to beat him. If they go to a brokered convention, i think hell run as a third party. If he wins outright hes going to have to lose in order to not be on the ballot. My point in asking these questions is not just taking a look at the potential of a brokered convention but also the idea of super delegates. If it turns out voters themselves dont feel like their votes matter, what do you wind up with on the democratic side . I think that Hillary Clinton is going to get enough delegates. I think we play too much into these super delegates. Exactly. Super delegates and brokered conventions are not the things that look like democratic votes. Thats my point. I dont think were going to get to that point. I think if hillary wins, shes going to win with a majority of delegates. If trump win, hell win outright. A brokered convention will undermine the process and embolden his constituency. I think youre going to see those Bernie Sanders fans when they realize it was stolen from these by these super delegates. Theyre probably going to cross over and support mr. Trump, hence why were seeing low voter turnout on the democrat side and record numbers on the republicans. Well, i think as you know, once the general starts, well see what happens when we get into a primary. What Hillary Clinton needs to do right now is focus on ohio, illinois, and missouri, make sure she has her turnout operation to the right level so she doesnt get stunned again like she did in michigan. Morris and scottie, thank you for being here. Obviously an interesting day. Away from politics for a moment. Longawaited earnings. Weave be just out from Valeant Pharmaceuticals. The ceo was out on medical leave for quite some time. Quarterly profit of 2. 50 per share, which is below estimates of 2. 61. The company does say these results are considered, quote, preliminary, as it reviews its financial reporting. Well have more on all of this, what it means, in a little bit. Of course, what it also means to people like bill ackman, whos been a big supporter and owner. Coming up, fed policy in focus. Central bankers gather for a twoday policy meeting. Well talk Market Strategy next. Its sleek design. Is moldbreaking. Its intelligent drive systems. Paradigmshifting. Its technologyfilled cabin. Jawdropping. Its performance. Breathtaking. Its selfparking. And selfbraking. Showstopping. The allnew glc. Mercedesbenz resets the bar for the luxury suv. Starting at 38,950. With Everything Else going on, do not forget about the fed. The Federal Reserve kicking off its twoday meeting today. As always, their Interest Rate decision will come out at 2 00 eastern time tomorrow. Then we get the Live Press Conference 30 minutes after that. Lets talk about what all of this means for you and your money. Gabriela santos joining us now, global strategist at jpmorgan. Along with tom manning. Guys, thank you very much. Appreciate it. A lot of debate about, oh, theyre going to raise rates, what are the dots going to look like. As our viewers of the 2 00 show know, i have being less enthusiastic about the Federal Reserve as of late. Not saying they dont matter, but how much could tomorrow move our listeners and viewers money . I do think there will be some interesting information in the famous dot plots and the new projections and the press conference. I think theyre slowly going to start moving the market towards pricing and a rate hike maybe in april or june and thats what we should be watching for. Please, make it interesting. What will be the most interesting things you are looking for in tomorrows announcement . Were looking for, first of all, in their statement how they view the balance of risk. Things have gotten better since their last meeting. Well be looking for them to update. Well be looking for Janet Yellens tone at the press conference. Does she start prodding the market towards expecting rate hikes . You think we could get a rate hike tomorrow . Nobody expects it. Not