Worldwide exchange begins right now. Good morning and welcome to Worldwide Exchange on cnbc. Im sara eisen reporting live from the imf meeting in washington, d. C. We are here at the Imf World Bank headquarters, wilfred. Its going to be an exciting day. Everybody who matters in finance and central banking is here, and so are we. Well, sara, im looking forward to it immensely, though im sad youre not here. What it really underlines is you care more about people like jack lew and Christine Lagarde than me. Which i get it, theyre important interviews. But ive taken note of that today. Just this day. Well get more on what sara has coming up on this great lineup. A busy morning ahead. Lets start by getting you up to speed on the markets. U. S. Equity futures at this hour are called lower. The dow down by 25 points. The nasdaq by about seven points. Yesterday we had strong levels of oil prices. That helped markets. We also had strong earnings from jpmorgan. Four days of gains for the Financial Sector in a row. Not just post the jpmorgan earnings. We were rallying a bit in that sector ahead of earnings. Lets look at the yield on the tenyear. Weve come away from that 1. 7 level. Were at 1. 77 right now this morning. Not Much Movement there overnight. There has been a lot of movement in asian equities, however, overnight. They followed on from the rally we saw on wall street. The nikkei itself having its best day in over a month, up some 3 . That was initially off the back of thoughts of a weaker yen, although the yen had turned around by the end of the session. The nikkei able to hold on to its gains. Gains also seen in hong kong, up 0. 8 . Europe not seeing quite so much of a rally. It was up yesterday. Its down today. Germany up fractionally. The rest in the red. The commodity related sectors still doing well, although oil prices arent soaring today, the levels remain high. Wilfred, financial leaders from around the world are in washington today for the Imf World Bank spring meetings. Late yesterday, i sat down with treasury secretary jack lew to talk about u. S. Leadership in the Global Economy, but we also have to discuss the big issues at treasury, his leadership right now, including the recent clamp down on inversions, killing that more than 150 billion deal between pfizer an allergan. The. I said several years ago the right way, the best way to do it is for legislation to be passed that would do serious, comprehensive tax reform and shut down inversions once and for all. I also said well use whatever Administrative Authority we have, and its a complicated matter. You dont have infinite flexibility. We have worked and worked on it. This is the third action weve taken. Each time weve slowed down the pipeline. Each time ive said Congress Needs to act because we want to make sure that inversions are stopped. I think it should have been no surprise to anyone that we were working on this because weve been working on it for a long time. Should not have come as a surprise. Lew says there was a lot more discussion on inversions, on the state of the Global Economy. You can catch the entire exclusive interview with secretary lew later this morning. Squawk on the street, 9 00 a. M. Eastern time. We have a big morning ahead here on Worldwide Exchange because in the next hour were going to be joined by ubs chairman axel weber and the institute of International Finance ceo tim adams. Wilfred, its a perfect time to talk to this duo. I have to say, while the Global Economy is topic number one here, and yes were not in a crisis, but we are in some sort of inbetween netherland of disappointing growth, the big banks are front and center. Not just because its earnings week, but also the calls to do more on too big to fail, whether its from Bernie Sanders or Neil Kashkari of the Minneapolis Federal reserve are getting louder and have reached a fever pitch and have reached the discussion in the halls here in washington. Has enough been done in the u. S. Banking system to keep it safe and to avoid another taxpayer bailout . Its something i talked about with jack lew. And its something the Global Leaders are talking about. So interesting ginn those good results from jpmorgan yesterday. Absolutely right. Not just an interesting debate for the last couple months, but yesterday with that living will announcement alongside the jpmorgan results, bringing that debate front and center. Jpmorgan and jamie dimon were probably saying overnight, the shareholders at least applauded the earnings, proving the big banking model can still work, and ignored the announcements on the living will. More banks reporting today. Lets give you a break down of the day ahead. Earnings and economic data. Weekly jobless claims are out at 8 30 a. M. Eastern. Expect it to hold steady. Filings have been below 300,000 for 58 straight weeks. Also, 8 30 we get the cpi. Its expected to tick up by 0. 2 , following a decline in february. Atlanta fed president Dennis Lockhart is speaking later today. As for earnings, look for results from wells fargo, blackrock, and we also hear from delta airlines. Thats all before the opening bell. Of course, financials were a big driver for the Broader Market yesterday following better tha k expected results from jpmorgan. A nice gain of 2. 25 led by j. P. , up about 4 yesterday. That was a strong reaction to jpmorgan. Im curious, do you think it was a jpmorgan story or a Banking Sector overall story . I think definitely theres a factor it was jpmorgan that led the charge. It brought all boats up with it. I think the Capital Market side saw a bit of an immaterial provmt improvement in march. We got guidance that march was better than april. Energy losses were significant. I think we need to keep an eye on what the other banks report there. That could still be a negative surprise for some of the names. Bottom line, the Interest Rate centers were very strong. Analysts have lowered their forecast for how many more hikes we get this year, but in q1 itself that, 25point basis point hike we saw in december came through. We saw those areas of the banks do well. For jpmorgan as well, expense management in the face of lower revenues in the investmentback. Thats something i think with bank of america is always in the spotlight, this quarter more than ever. So jpmorgan rising all of the sector yesterday. Its now on the other banks to follow suit. Yeah, well see what happens later this morning. Were also watching oil prices closely this morning ahead of that important producer meeting scheduled for sunday. When you look at the oil board, giving some of the gains weve seen over the week back, but wti crude is still firmly above 41 a barrel. Brent just flirting with that 44 a barrel level, down half a percent. Overall, the trend has been higher. Its something were also going to talk about with president kim of the world bank today, wilfred. That is the stabilization recently in commodities prices and how far that has helped emerging markets. Not just the dollar that has started to weaken but the price of oil, copper, and other commodities is also going a long way to help some of these battered emerging markets. Thats an interview coming up also on squawk on the street. You keep dropping in all these great names of people youll be speaking to. Sara, therefore, i do understand why you have left me. It still hurts, but i understand. Great lineup coming up. Ill be back tomorrow. Lets have a quick look at Broader Markets today. The dollar is rallying today. Almost unanimously. It was unanimous earlier in trade, including against the yen. As you can see, its just turned around against the yen. That didnt stop the nikkei from having its best day in a month. Its not a big move. The yen up by 0. 2 . The yen has come significantly away from the 108 and close to 107 levels it touched a few weeks ago. Elsewhere, as you can see, the euro and pound are all off kbens the dollar today. Gold price for you there is at 1244, off a little bit today. Right, its been a chilly market for ipos recently, with only a few Smaller Companies going public. The first major Public Offering is finally here. Thats been after a nearly fourmonth freeze. Landon dowdy joins us with more. Good morning. I know we miss sara, but dont worry. Im not going anywhere. Bass Global Markets is scheduled to price its ipo tonight for trading tomorrow. Thaul offer 11. 2 million shares, expected to Price Company 17 and 19 a share. It could raise up to 212. 8 million and will trade on its own exchange. All eyes will be on the deal, not only after its historic tech glitch, but also as an indication of the health of the ipo market. The ipo market froze last year due to chinas slowing economy, Falling Energy prices. As a result, 65 of 2014 and 2015 ipos were trading below issue. So whats changed . Renaissance capital telling me its thanks to a more stable market environment and the performance of recent smaller ipos has significantly improved. Back over to you. Landon, thank you very much for that. What are the main stocks were watching today, sara . Wilfred, were watching apple chip supplier, Taiwan Semiconductor posting an 18 decline in First Quarter profits. That firm citing lower revenue and an earthquake for the miss, which it says hurt its margins. A weak outlook from seagate technology. That company saying its expecting reduced demand for storage devices it, which will weigh on Third Quarter revenue. Carl icahn cutting his stake in the medical device maker hologic to around 3. 6 . Wilfred . Some other stocks to watch. Mcdonalds is reportedly targeting private equity firms for its planned sale of 2800 restaurants in north asia. The wall street journal reporting that ctw investment is pushing for a shakeup at chipotle. The Investor Group is affiliated with funds that own 55,000 of the chains shares and says the board lacks diversity. No move really in the share price. Verizon is likely the front runner in the upcoming bid for yahoo s core business, this according to analysts. This is partly because verizons efforts with aol, which it acquired last june, have gone well. Verizon flat in premarket trade. When we come back, decision 2016. Were less than a week away from the key new york primary. Republican political strategist sara fagan is here with a look at the hike stakes, next on Worldwide Exchange. 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 great time for a shiny floor wax, no . Not if you just put the finishing touches on your latest masterpiece. Timings important. Comcast business knows that. Thats why you can schedule an installation at a time that works for you. 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. Welcome back to Worldwide Exchange live from washington, d. C. Now to todays trade of the day. So with Goldman Sachs lowering its First Quarter gdp growth estimate on yesterdays disappointing sales report, investors may wonder what Companies Outperform during times of slower growth. Our data team crunched some numbers, and turns out in term of sectors, health care, consumer additidiscretionary st and Consumer Staples perform best during these periods. As for specific dow components, cisco, united health, and home depot all outperformed. For more, go to cnbc. Com. The Obama Administration is expected to announce new safety regulations for offshore drilling today. The Oil Companies are fighting the regulations, which will increase costs, and they say would slow down drilling in the gulf of mexico. Now to politics. New yorks primary is still five days away, but were already starting to see a bit of a shift among the republican candidates with donald trump so far ahead in new york. Theyre increasingly focusing on pennsylvania. Tracie potts reports. There are few places in america that have been more devastated economically by our trade policies than pittsburgh. We know that. Reporter donald trump at a rally flanked by a thousand police officers, shifting focus to a state where dozens of unpledged delegates could put him over the top. Were going to see manufacturing jobs coming back to pennsylvania. Reporter ted cruz also in pennsylvania trying to put the best spin on new yorks upcoming primary, where cruz is polling third. And if donald doesnt get north of 50 in his home state, i think thats widely going to be seen as a crushing loss for him. Reporter john kasichs poised to come in second. Its like coke, pepsi, and kasich, but people are still trying to figure out whether they like the brand. Reporter meantime, the democrats are getting ready for tonights debate in new york. This is a tough race for us in that we are taking on someone who obviously was a United States senator here for eight years. Reporter lowering expectations in a state where hes 14 points behind. Tracie potts, nbc news, washington. Joining us now is sara fagan, partner and chief political strategist at ddc advocacy and cnbc contributor. Nice to see you in person. Thanks for coming out here to the imf. Is it time to look towards pennsylvania . Is new york in the bag . Well, new york is in the bag for donald trump. I think the question is will he get to that magic 50 threshold, where he will then get all of the del gegates. The rules in new york are quirky. I think hes going to get a Strong Majority of them. Meanwhile, Bernie Sanders is leaving new york to go to the vatican. I cant figure this out. Could this make him look president ial, or do you think itll backfire that hes bailing on such an important primary state . Its hard to imagine catholics rallying behind Bernie Sanders. He must feel some kinship with the pope, whos talked a lot about income inequality, not only in the United States, but all around the globe. I do think, though, that these foreign trips to help bolster these candidates credentials. We see paul ryan, whos not a candidate,over seas. It does make them look more president ial. I find the vatican a curious place for Bernie Sanders to do a trip like this. Well see what happens to him. You just heard in a clip the focus continues to be on jobs. They all want to bring manufacturing jobs back to america. In these halls, here in the imf, when you say trade wars and when you talk protectionist rhetoric, it is a scary thought for economic growth. But that is not what is happening on the campaign trail. Thats right. Its really a tale of two cities in many respects. You do get the sort of ivy League Policy think tank here where people talk in a big picture. For many americans, they havent seen their wages increase in over ten years. They are working longer hours and not making more money. So when donald trump or Bernie Sanders talks about these issues and they talk about stopping trade coming to the United States or more importantly making sure that trade is fair, it really does resonate with voters. Its one of the reasons why we see strength among these two candidates. Whats so interesting to me is donald trump, Bernie Sanders, very different candidates, but they say a lot of the same things. Their supporters want to arrive at the same place. So the question is, if clinton does lock up the nomination and she is ahead in the delegates, who did the sanders voters go to . Well, you see in polling that about a quarter of sanders people say they will never vote for hillary clinton, ever. I think at the end of the day, many of those people ultimately will. Theyre democrats. Theyre not republicans. But some of them will stay home. Thats a challenge that republicans face as well. The donald trump core supporter, some of whom will never vote for the republican candidate, theyll probably just stay home if hes not successful in getting the nomination. I know you havent been a huge fan of donald trump. What do you think about how much do you think the policy elite, the finance ministers, central bankers coming here, they wont talk about it publicly, they wont even get into the politics. How much do you think it is a concern . It is the chatter of the cocktail circuit and dinner Party Circuit here in washington. Everybody wants to talk about donald trump. Everybody wants to understand how could it be possible that he may be the republican nominee or even potentially the president. So i think people are talking about it. Theyre very, very concerned. Havent may moved past that, the how coul