Moving the markets. Record low bond yields, new attacks on viacom, and at merck shares are rising in the premarket. But obviously a lot of review to go over on what the fed said yesterday, jim. Yesterday was a kind of admission, it wasnt even tacit, that maybe were in a kind of different era, which is so interesting because a couple months ago they certainly didnt think we were. And thats going to cause the id say kind of a grumpy attitude toward the fed, people who say theyve lost it because they now feel look theyre swinging in the breeze, the pundits. Wow. All of a sudden were much weaker than we thought, previously much stronger than we thought and were data dependent. It does add up to something that i want to step away from and say its good for stocks. So we can talk fed policy, as if we are indeed fed members. Ill let you be from i dont know, some west coast man and ill be a philly thing. When it clears, we can go back to clorox and back to look at Procter Gamble after these problems. Living on clorox doesnt sound like much fund. Good yield. Clorox is very popular again. Kills germs. I always like to reduce things to the stocks that people have in their house, in their pantry, in their refrigerator, in their drawers because these are the companies that can make you money in that environment because they do not need growth. They do have dividend growth. They are the companies you can look at. Edgar allen poe is right, theyre right in our face and they work in this environment. I dont want people to give up, i want people to refocus and recognize we dont have our wind at our back with the economy, which means we have to switch direction and look inside our kitchen and look inside our bath. Doj and doe, brexit has frozen everybody. Sterling likely to depreciate further, sharply. What are we going to do . We cant go over and buy land. It was ridiculously overvalued the last time i tried to kick the tires a few months ago. Were now getting that 11 down number. Were watching Deutsche Bank. I saw an update of jpmorgan, bbva, these banks are so inexpensive and so dangerous at the same time. They are all in the wrong currency so to speak. Now brexits become its almost like someone was saying last night at dinner, jim, why dont you do more fear mongering. We were eating fish. Whats it like to be a fish mongerer . Id rather be a fish mongerer than a fear mongerer. If theyre starting to give you 11 sterling, i like the idea that its quantified. 11 , ill take it. Because that gives me at t at a 5 yield if we go down commensurate. We shouldnt go down commensurate. We should go up. The fed didnt do anything to make the dollar strong. If youre looking for a job thats higher paying, that news yesterday was bad. If youre looking for yield thats lower but still good someone downgraded dominion today, which happens to be one of the finest power companies. They have the most inexpensive power. Jpmorgan. One of the things i like, these power companies, their fuels down, the footprint for construction is up. Were not having a total shutdown in industry other than in oil, which is coming back a little. All these add up to a whole group of stocks that seem attractive to me in light of the fed. Meanwhile the macro we havent touched on. Philly surprises to the up side, cpi is up three months, 220 yearonyear. Thats rent. Were still building as many houses in this country as we did when our population was literally 50 lower. Theres just tremendous demand for housing. The reason there is is because the rents have gotten out of control. Certain parts of the country are adjusting but for the most part rents are too high and its too hard to get that low. Theyre not giving loans with lower fico scores. The banks dont want to risk it and give you that loan to go buy a house so youre stuck renting. Rentings going up. Good article today in the times about how your premiums for health care are going up because the exchanges arent working that well so you got a situation where the people who are not doing well are doing worse than well, and thats one of the things that i think the fed i think the fed has a heart. I know thats contrary to what like the fed has a heart. Not much condolence when youre earning pennies the average person in this country has a thousand dollars savings. Gee. One catastrophic illness and youre wiped out. A lot of talk about healthrelated bankruptcies in this country. Suze orman taught us that. Always tells you do not forget how much a catastrophic illness can be in terms of putting someone in bankruptcy. You know, dr. Oz, who is a real doctor told me. He said, jim, why dont you emphasize enough what a catastrophic illness does to someone in america. It just bankrupts. So you have some real negatives plus digitization. There are different parts of the economy that arent that good and rent and Health Care Insurance are bad. Theyre just going up. Lets move on to viacom. Sumner redstone firing a new salvo. The media mogul says theyre ignoring his wishes and not acting in the best interests of shareholders. Last night on fast money, tom fredston said his legal battles with his exgirl friend are overshadowing the real problems with the company. The whole soap opera, the real story is the fall of viacom from grace over the last several years. It was one of the leading Television Networking companies in the business and now its fallen to a level below really any of its peers on almost any metric plagued by all types of problems, including creative departures. Goes on. Says hes not interested in coming back to do the job. Redstone wanted to buy myspace, was upset when they lost it to murder okay. Fred stone said he wanted facebook instead. Its a battle of who can be more ugly and more critical. I keep thinking what does it mean to the stock and i keep coming back to that if you think that these people have run the company into the ground, theyre being very theyre paid very well to run it into the ground. Thats what you heard. Now, i thought he made points in that we know viacom is something we can easily do without in terms of realtime. I think theres a whole generation that think that viacom is hulu. They dont know the viacom programs. Hulu, we dont talk enough about hulu. A lot of what is a viacom product is no one knows is a viacom product. Sure. Any time executives hate when you say i watch things for free at home because, oh, dont say that. But its true. But i do need wifi and hence a call about charter going higher. This was on a call where city says charter has new growth after the time warner acquisition. So there are absolutely winners and losers here but viacom, unless you think that all of this is going to precipitate a sale, of which i dont know who would buy, wow. Its a great source of key words and search engines. And can we get some uniformity . This is a plea. I have a plea. Can we just get one shot of Sumner Redstone . I have shots when hes 30, 60, 80. The one we just used looks nothing like we got to have one standard redstone shot. Its too hard. I would like to do a wall of redstone. Right . Well, here we go. We could go with that one. How about the younger one. Sumner would probably prefer we use another one. Oh, i like that one thats a good redstone. Thats an okay redstone. Thats the good, the bad and the ugly. Ooh, wow look at that redstone. Now were talking redstone. Whoo happy redstone. All of these i think play a role in our perception of the man. This is some good broll right here. This is fabulous in is a guy who is feisty. Feisty redstone. A lot of the discussion yesterday was when he visited paramount and didnt leave the trailer, if that was for security sake, was it age, was it just inconvenience . We dont know the answer to the question. It must have killed buzz feed. Dont you think buzz feed had theyre going to do the redstone wall. We did a pretty good job just now. Good call. Thank you. Theres a lot of redstones. Id like to know which is the real redstone. Im told the whitehaired photo is two years old. We should probably put some dates on those. Maybe he went to allergen. They have everything. Disney opening a new theme park in shanghai. Well get a live report on what has been a tough week for disney here in the states. First fiveday losing streak since february 11th. We look to continue it in the open. More squawk on the street in just a minute. Every year, the amount of data your enterprise uses goes up. Smart devices are up. Cloud is up. Analytics is up. Seems like everything is up except your budget. Introducing comcast Business Enterprise solutions. With a different kind of network that delivers the bandwidth you need without the high cost. Because you cant build the business of tomorrow on the network of yesterday. Because you cant build the business of tomorrow they found out whos been who . Cking into our network. Guess. I dont know, some kids in a basement . You watch too many movies. Who . A Small Business in china. A business . They work nine to five. They take lunch hours. Like a job . Like a job. We tracked them. How did we do that . We have some new guys defending our network. New guys . Well, theyre not that new. Theyve been defending things for a long time. [ digital typewriting ] its not just security. Its defense. Bae systems. After more than a decade of planning, disney opening its new 5. 5 billion theme park to the chinese public today. Were live from shanghai disneyland with more. Hey, eunice. Hey, carl. I dont know if you can hear me over the fireworks display behind me. This is the end of a very important day for disney. Tens of thousands of people visited the park today here at shanghai disneyland. The average wait time outside the gate to get into the park was two hours. Now, as i said, this is an important day for disney. The ceo told me last week that he sees this park as a booster rocket for the business here. Hes hoping that eventually people are going to come here and then at one point theyre going to go home and possibly buy more tickets to disney movies and products from disney stores. Now, there is some reason to believe that this is going to be a bet that will pay off. By disneys own estimates, 330 Million People live within a threehour radius and can travel to this park by car or by train. And so disneys reasoning is those are people who can afford to vacation here. Now, if you believe as many economists do that the economy here is on an upward and advancing and Household Spending is becoming a bigger and bigger role of the economy, then disney is well poised. Now, the consumers here are coming to see a lot of the different attractions. 80 of the attractions are including the upgraded version of the pirates of the caribbean ride, a ride that is entirely new and theyre here to see the largest castle, Disney Castle in the world. Its something everybody has been talking about. Theyre really excited to see it and probably especially right now, carl. Unieunice, that was a live s of the ages, occupational hazard of going live from the theme park. Well hear more from you later on. 300 Million People within a threehour train ride, expected to be the most visited theme park in the world. Theres obviously some terrible sadness overshadowing the disney story, the child and the alligator. Ive been waiting for this a long time. It seems like the most natural place to have it. Now we are stuck in this world where we talk about espn versus this but to me parks and movies, this is why you own this stock for the next five years. The next five days, no. The next five years, this is impressive. I think theyre going to love it. Do you worry about theme park attendance in the wake of this gator attack . And now more reports about whether or not signage warnings were appropriate around this lagoon . You know, you spend much more time down there. I covered disney when i was a reporter in dallas and been with my family many times. Im just going to say it point blanc. I think its the safest place on earth. Once we went after a trerrorist attack and i remember saying do i have any safety and the security was more tsa like than ive seen. I did lose my glasses once on space mountain. They went up and i went down. But i do think that its just its home, okay . Its home. Ive taken my kids to many theme parks. We love theme parks. I never once fell any safer at any one other than disney. I worked there in college for a semester. Its an amazing place to work. Reports that iger talked to the graves family, who lost their son, lane, this was supposed to be a huge week for the company. The launch of the park, finding dory and a lot of it is being overshadowed. I think finding dory is going to be very, very big. We have to remember at home that disney, think about it five, six months from now. The last movie wasnt that good but this is a franchise made up of many franchises and theres going to be accidents and tragedies in anything. I always find its amazing how few there are. I covered a death at a roller coaster when i was a homicide reporter, and it was literally something where they actually had a similar weight of object as the person and it did fly out of the roller coaster just exactly where the person unfortunately flew out. I always said im never going to go on their coasters but ill always go on a coaster. Given the amount of people they see every year. This place is a vast city every day and its a safe city. Well watch that. Obviously a big week for disney in china for sure. When we come back this morning, well get cramers mad dash and count down to the opening bell. S p hanging on to a 1 gain for the year. More squawk on the street from the nyse still ahead. Eight minutes until the bell. Lets get cramers mad dash ahead of the open. Im convinced with this turmoil, you have to folks on domestic plays that work. Im gratified to see kroger made the number. What really matters here is that kroger had been the goto domestic name for retail. The Dollar Stores then surpassed it. But this is a kroger this is a place to go. Now do you want to buy it up 1 . No. And i dont want to say kroger is back. Im saying the lower expectation krog s kroger is better. Its funny because its going on at the same time as whole foods, which is better. You put them on the list. We got rite aid, which was a miss. Rite aid, this is one of those unfortunate things that happened also with Family Dollar. When you have a protracted buy, remember walgreens made that bid in october. It made it so rite aid could lead. The store is clean. Its just a Natural Evolution of what happens when youre just stuck in limbo. The government has looked askance at a lot of takeover deals. Were looking to see how many rite aids will be disposed by walgreens. I think this number was a miss in part because theyre in limbo. Youll see walgreens down more than im anxious to buy it. Once Family Dollar merged with dollar tree, that went away quickly. Or walgreens has to walk away and thats not whats expected. I do hear you, though, coming back again and again to depot, kroger. I have to. Domesticbased companies. Yeah, because weve got were better than the other guys and money has to flow somewhere. Its unlikely to flow into that tenure, which is a lot of foreign many coming in. The fed is not selling its bonds. You look and say who is going to do well . This kroger is an overreaction that you get to an inline number given the fact that we are so desperate for americas first stocks and kroger is one of them. Flat is the new up. Orange is the new black. Which is new season is coming. Were going to get the opening bell in just about five minutes. Dont go away. Using 60,000 points from my chase ink card i bought all the framework. Wire. And plants needed to give my shop. A face. No one will forget. See what the power of points can do for your business. Learn more at chase. Com ink youre watching squawk on the street, live from the Financial Capital of the world. The opening bell in about two minutes time. Busy day with the fed now out of the way, a lot of macro claims, cpi, philly all running to the warm side. Yes. The president is going to orlando later today to meet with the families. We expect a statement. Boe, boa, expected to stand pat. Are we frozen in place . No, because oil is going down. Oil is going to take the market down. Watch for pioneer pxd, 5. 25 million shares they are selling to raise 827 million to buy good assets from devon in the permian. 42 boost in exploration. What does this mean . It means that we are pumping more. Now, yesterdays numbers if you broke them down showed there is a little bit of decline but not as much as people expected in the u. S. When you see this drilling and you look at that rig camera friday, people are getting very uncomfortable saying we were going right from 50 to 60 to 70 and that was it. It cant be that easy to listen to him and do the opposite. It can be. It can be. Nice guy. Did i tell you how nice he was . Yes, you have. He is. Meanwhile, people looking at i got to tell you, when i look at what they were saying, people are not going to hear about this, theyre going to sell apple, jpmorgan does a price cut that amounts basically from a hold or a buy. When i go over it jbill quarter, i begin to use credibility for them. Just to quote them so people dont freak out. They say theres going to be a snap back and they say it will be and approximately. Theres a look at the big board. Wisdom treeing celebrating the tenth anniversary of the their first etfs and clipper around the world race, celebrating the final leg from new york to london. Larry ellison. Oracles tonight. Oracle is tonight. Hes a competitor. Never get between ellison and anything. You know how you cant get between a bear and its cub . Dont get between ellison and anything. Although oracle said its no longer cheap. Everybody else is trying to be bigger in the cloud, thats been working, trying to pass sap, trying to crush workday, trying to rival workforce. But theres been some poor reception to some deals. Microsoft was poorly received linkedin. I liked it because it gave them growth. But kafium buying q logic. Q logic goes up against emulex. Another man like ellis, you dont want to compete with hatan. Doesnt get talked about enough but i just did. On the heels of Credit Suisse yesterday saying the iphone 7, the real innovation is not going to happen . No. They talked not that lovingly about the watch. Well, the watch, i still wear it. I like the bright one, too. The wife says where is the bright one . Its nighttime. I said, come on, im not going to switch watches at night. Well watch that, apple. Yahoo up into a buy with a 43 target. Mark may saying now were seeing incredible bids for this business. Youre talking bid for the yahoo the telecos want to be in there. Jack did give that rahrah speech. Now, the millennials. I was thinking about doing this company no millennials allowed.