Im sara eisen. And im wilfred frost. Its Throwback Thursday. Were throwing it back with some onehit wonders. Mambo number five playing there. I forget who sang that. Lou vega ive just been told in my ear. Im pretty sure in the u. K. They had more songs out. That would still be a onehit wonder if it didnt make it over here. No offense. There we go again. America is better than britain. I agree, sara. Happy Throwback Thursday and last day of the First Quarter. Indeed. And some great onehit wonders coming up. I know we cant talk about that the whole way through. But i am excited. Well switch to markets and have a look at u. S. Futures. Are we going to end the quarter higher or lower . Well, today at least were expected to take some of the positivity weve seen in recent weeks off the quarters performance. The dow is expected to open down by about 26 points. The s p by about 5 and the nasdaq by 10. Lets have a look at european trade today. Very much in the red as you can see. Germany down 0. 5. France down 1 . If youre looking for a region with the most disappointing performance year to date this quarter, it is of course europe, which is still down markedly for most of the continental european marks. At least the ftse 100 performance closer to being flat. Asian trade for you. Hong kong down slightly. Shanghai up slightly. The nikkei is suffering. Its down 0. 7 . It is down some 12 for the quarter as a whole. We all know one of the main reasons for that is because the yen has surged 7 in the opposite direction. Right, heres where u. S. Stocks stand on the last day of the qua quarter. The dow is up nearly 1. 7 . The s p is up almost 1 . The nasdaq is down about 2. 8 . So those futures we just showed you slightly in the red. Unlikely to erase quite the positivity the dow and s p are seeing, but its close. But look at that. After the worst start to a year for stocks ever, quite a turnaround and a sharp reversal. The month of march has been very friendly for u. S. Stocks. At one point, the stock market was down 10. 5 . Weve come all the way back and then some. You can thank janet yellen. You can thank mario draghi. You can thank kuroda. But it wasnt until yellen sounded the cautious note on the pausing in the Interest Rate cycle that things took off. You can also look at the commodities stabilization. Oil prices a big part of that story. Absolutely right. It was late february and early march we saw the rally. The last two or three weeks of march, weve sort of been treading water. Absolutely a quarter of two halves. Id say, really, the one to focus on are the last couple weeks, very much janet yellen more than anybody else. Even though all weve had from the fed during the quarter is just a change in rhetoric as opposed to massive changes in action from the bank of japan and from the ecb. Its only really when the fed has become more dovish that weve seen that final leg of this rally. Because it is a policy change from december when they were on board for the rate hikes and they were looking out forward. Theyve really pared it down. Now the question is going to be, can the data resume strengthening . Its going to start tomorrow with the jobs report. Th then, can the fed get back to a normal hiking cycle. I think it is a change in policy but nothing to the size of the change in policy we saw from the ecb and bank of japan. Thats why i think this move highlights the way the fed is still the central bank of the world, that it has some power, some ability to act, whereas the others are losing any ability to act. Negative rate, the yen still soars. Or maybe investors just like the idea that Central Banks are more in sync, that the fed isnt moving one direction and everybody else is going in the other, which results in a stronger dollar, which caused all sorts of headaches from emerging markets to u. S. Corporate profits. Lets show you the picture right now as far as the dollar. The dollar is headed for its worst quarter in five years. This has been a major relief for markets across the board. Remember when everybody was freaking out about the chinese yuan at the beginning of the year . Guess what, even that has reversed. And this weak dollar has allowed the Chinese Central Bank to actually let its currency strengthen, which is much more reassuring for investors everywhere. Lets quickly show you oil, which has given back a little bit of its gains after, again, a higher quarter. Were going to talk about whether weve seen the bottom during this First Quarter of the price of oil. Wti is back below 38 a barrel this morning, down about 1. 5 percent. Well monitor that. Could be a reason for some of the losses in the overseas marks. Brent crude oil down 0. 75 , just below 39 a barrel. Nat gas getting a little pop. On the treasury front, what we have seen this quarter is buying of treasuries on the back of janet yellen just in the last few weeks. Yields lower, seeing that again today. Well watch that into the jobless claims report. An interesting thing to point out on this year to date is that we are closer now to the lowest yields of the year rather than the highest yields. Even though equities have recovered to their starting point, the yield habit. So equities recovering since the middle of february, thats quite a bullish signal. Of course, the tenyear note, closer to the 1. 75 low of the year rather than the 2. 3 high of the year is quite a bearish signal. Theres been more bond buying alongside the equity buying as weve recovered. Or just a signal the Central Banks are in easy mode. So its a central bank delivered equity rally. Ic thats always something worth remembering. On that note, weve seen gold shoot up during the First Quarter on the back of a weaker u. S. Dollar and all the Central Bank Stimulus efforts. Gold is higher this morning on the back of equity losses. Really starting in january, taking off there, having one of its best quarters in years since back in the financial crisis era. Just want to bring it back to the chinese yuan point. We were just discussing it. We said how its been front and center. Theres been volatility. Theres been moves in the yuan year to date. Have a look at this chart to see the yuan against some of the other asian currencies against the dollar. Clearly tiny performance. A couple percent versus more like a 10 move for the malaysian ringgit. Big moves in the australian dollar. Yes, i hear you say the renminbi is meant to be pegged. Compared to other currencies, it hasnt moved that much. Yet, its been such a big talker throughout the year. I think thats also worth bearing in mind. Those moves for some of those currencies bouncing back against the dollar. Its huge. Its helped. Its helped the flows. Its helped their stock markets. That has been the story of the month of march. More jobs related data and fed speak on todays agenda. Thursday, weekly jobless claims out at 8 30 eastern. Just before 10 00 a. M. , well get chicago pmi data for march. New york fed president bill dudley will be speaking today. In terms of earnings, movado reporting results before the opening bell. Earnings kicking off much more into high gear starting next week, which a lot of folks say will be the next catalyst for the market. Indeed. Lets get to todays corporate news. Yahoo s implementing proxy access. The new bylaws allow a group of up to 20 stakeholders who hold a 3 stake and have for at least three years, rights to nominate directors. Stocks to watch today. Chipotle developing a burger chain. The Company Filing a trademark application earlier this month for better burger. A spokesperson saying the concept was in the works well before the burrito chain was hit by a wave of foodbourn illnesses in the past year. Other chains include Southeast Asian kitchen. So the question there is whether investors are optimistic. Actually, the stock finished up 2 on the news yesterday. Big bets outside of burritos. Will it work for chipotle . Such a name brand. Another big issue, they have to reassure people first. Absolutely. Sources telling cnbc medivation has hired advisers to oversee a potential sale. The ceo of sun edisons two spinoffs has left the company. No reason being given for his departure. Sun edison has been hit by a string of financial foe woes, forcing it to delay annual Regulatory Filings and pushing the stock down 88 this year. Ugly chart. Very ugly indeed. More stocks to watch. Micron Technology Reports a smaller than expected Second Quarter loss. They see improvements starting in the second half of the year. Its up 1 this morning. Boeing reportedly plans to cut up to 8,000 jobs this year from its commercial airplane business. The move could slash about 1 billion in annual costs. Boeing acknowledged wednesday the plans to cut about 4,000 jobs from the unit by mid year but says it doesnt have a specific target for the cuts. Ibm is buying blue wolf group. Terms havent been disclosed, but ibm is paying about 200 million. The wait is over for some new highly anticipated products from two wellknown companies. The latest iphone hits store shelves today. And tesla will take the wraps off its latest vehicle, the model 3, this evening. Landon dowdy joins us with what to watch. Good morning. If you and i were analysts, im sure we hoped the iphone se would be a massive success, as it is named after our very own sara eisen. Will it be the apple of consumers eyes and become a cash cow for the company . Analysts agree the price point at 399, the lowest price point ever for an iphone, the smaller se is aimed at helping apping expand into emerging markets. Others believe the se is about above 100 other. Mean while, the wait is over for the new tesla model 3. The latest model costs 35,000. About half the price of the model s. Seeing isnt believing when it comes to paying up. Production wont start until late 2017. But that habit quieted excitement. People lining up yesterday to pay the is,000 deposit when preorders began in australia. U. S. Preorders will start today. That means consumers are willing to pay for something sight unseen. The 340d el 3 will be revealed tonight on tesla. Com at 11 30 p. M. Eastern. Wilfred, im sure youre getting ready to leave the show and line up to put your deposit down. Well, i would be if i need a car here. You just dont. I got in a tesla for the first time. How was it . It was pretty slick, i have to say. Although, the model 3 is going to be less impressive. Perhaps more practical. So nice of apple to name a phone after me. Still going on about that, gosh. Thank you, landon. Up next, tesla followers may have a lot of faith when it comes to the new model 3. Theyre already lining up as landon just said. Well tell you why investors maye need to be a little more skeptical. And were sending out birthday wishes today to twitter cofounder and former ceo evan williams. He turns 44. After leaving the social media service, he went on to create medium, an online publishing platform. Former massachusetts congressman barney frank turns 76 today. He served the house for more than 30 years and was the architect along with former senator chris dodd of the sweeping financial reform bill doddfrank. Hes also a cnbc contributor. Happy birthday to you both. Stay tuned. Youre watching Worldwide Exchange on cnbc. 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Even late at night, or on the weekend, if thats what you need. Because you have enough to worry about. I did not see that coming. Dont deal with disruptions. Get Better Internet installed on your schedule. Comcast business. Built for business. Good morning to you. If youre just getting up, joining us on Worldwide Exchange, good morning. Lets get you up to speed on the market action. We are just in positive territory for the year, for the quarter on this last trading day of march for the dow and s p. Around about 1 of gains. At the moment, were facing declines in the futures market, but not quite enough to eradicate those gains so far weve seen for the year. Were called higher on the dow by about 30 points. The nasdaq also called lower by 0. 2. That is down a couple of percent for the year as a whole. Lets have a look at europe. Europe is in the red today. More meaningfully in the red for the quarter as a whole. Broader markets like the german dax there down about 7 still for the year. Its extending those gains with a little bit of profit taking. The ftse 100 only down a percent for the quarter. Commodity names suffering in europe. Lets have a quick look at asia. Interesting to see the shanghai composite eking out a gain on the day the yuan set its highest point for the year. Declines slightly in hong kong. Sara . Wilfred a story everyone is talking about. Former Lehman Brothers cfo erin callan was once called the most powerful woman on wall street. She took the reigns back in 2007 and then resigned in june 2008, just three months before the Investment Bank collapsed. She has since shied away from the spotlight until now. Selfpublishing a new memoir on amazon called full circle where she details her time at lehman. Callan spoke exclusively with our own kelly evans on closing bell last night, who asked whether she felt she was picked to fall on the sword. If you really look at it practically speaking, nobody wanted me to fail. Everybodys income, livelihood were tied up in lehman stock. There was no incentive to have me fail. Do i think at some point it was easier for me to be the public face of the firm and as a result i was associated with the entire performance of the firm . Yeah, absolutely. And i talk about that. But i dont think there was any kind of Conspiracy Theory or idea that people wanted me to fail. Obviously notable because she has not spoken up until now. And neither really has any of the major Lehman Brothers executives. So a lot of interest in this. What i also thought was interesting was her tone and her memoir and her message in stark contrast to what we have heard. Remember dick fuld spoke last year at some point at a banking conference. He really sort of stuck to a defensive stance that Lehman Brothers was not bankrupt, sort of defended the firm, should not have fallen, and this was sort of a more introspective view. Also questions from kelly as well about the timing of this, the book coming out, is there a desire to get back into it. Although, she didnt say how she was making money. She did say she was enjoying family time. I felt it was a little selfserving, but still interesting to get that take because no one has spoken out about it. Lets move on to todays trade of the day. We mentioned tesla earlier. Unveiling its longawaited model 3 tonight. Our team found it may be wise to sell the companys shares before the curtain drops. Tesla posted an average loss of 7 in the five days after its previous car launches. Far, far underperforming the s p 500 and shares of other car makers. One month out, the stock averages a slight increase, but its only higher 40 at the time. So this may be the sell the news event, unless elon musk unveils a car with even better features than anticipated in previous months. For more on that, go to cnbc. Com. I have to say, that is a stark move that we saw, that 7 on the five days after. I suppose because there is always so much expectation with his cars that its hard for him to beat it. Yeah, that or he gets crazy on twitter, raising the expectations himself. United air of emirates is introducing a travel fee for passengers leaving the country through dubai. Anyone departing through the citys airport will be charged about 10 as a service fee to support airport construction. That airport is set to reach 100 million passengers by 2023. Fees go into effect this june. Airport fees in and out, i dont think, are so uncommon. Whats interesting here is the region is clearly suffering from this slump in oil, the collapse in oil prices. Weve seen other sort of interesting moves to raise cash and help with infrastructure, where usually they could just go to their oil funds pretty easily. Whats interesting is theyve already got great airports relative to the jfks of this world. Ill pay 10 every time i go through jfk if you improve it. Good point. But you dont have to. We all should if they were going to spend it straightaway and improve things. Up next, 99 problems and title may no longer be one. Jayz may have a plan to take on netflix and hulu. First, lets get todays National Forecast from the weather channels jen carfagno. Sara and wilfred, on this thursday, we start the day with thunderstorms. Well end with a lot of active weather. Looking at Severe Weather riskings today for 37 Million People stretching from the gulf coast straight up into the midwest. Again, the risk of tornados. At least six reported tornadoes from wednesday. Were going to sew that severe risk continue today. The heavy rain in this area will also be a potential. Yesterday saw some of our record wettest march days, especially around the little rock area. Were going to see that kind of rain moving east today with rainfall on the order of 3 to 5 inches in parts of the deep south. Temperaturewise a lot of warmth ahead of this system. New york city getting to 70. There is a cooldown coming. You can see that in parts of the west today. Well get into that coming up today. Thats the latest forecast. Worldwide exchange continues after this. I have read it is the hardest job in the world. Thats why im here. Can you. I can offer advice from the ac