Worldwide exchange. On cnbc, im sara eisen. And im wilfred frost. Good morning to you. Lets get straight to the markets this morning. Yesterday, we saw the s p flat and the dow down. In unison by the tune of 0. 5 , 0. 6 . That equates for about 28 points for the dow. 14 points for the s p. And about 125 for the dow. Ticking down fractionally at 177 this morning. New data overnight out of china showing consumer inflation for a third month in a row, producer deflation did ease and china managed to close with a gain just barely in the green. The big move came in japan overnight, a. 2 move in the nikkei. Saying the government will intervene if the yens one sided rise they used the word intervention for the second time recently. It was a very explicit threat to the currency market to stop buying the japanese yen which actually has stopped. The last few sessions or so moderated. We saw a bigger move. A half a percent this morning. That weaker yen going a long way to help japanese stocks and overall sentiment across the board. We are seeing strengths in banks. And Prices Higher with rebounding. We said better than expected so it was a 30 revenue decline. Well get to that in a moment. As for the euro against the u. S. Dollar this morning, very quickly, strength almost at 1 14 against the dollar. The stronger dollar coupled with weaker oil lately has been the latest stumbling block, at least if you read the reports for the u. S. Stock market right now. Its a combination, you dont like the strong dollar because it hurts corporate earnings overseas. And it makes you wonder whether the chinese can still devalue their currency which is everybodys headache and, of course, the price of oil. Yeah, the dollar in its fifth session in a row, particularly in the face of that weaker jobs number, somewhat of a surprise. Today, its more mixed. But the big move is against the yen which weve seen dollar strength. Thats okay for investors. The question now does the strength derail positivity. Oil prices, slets a look at them. This time yesterday we were looking at 2 gains. But the day finished with over 2 of declines. Its belief of what those wildfires in canada will impact oil price. That sentiment reduced that it could pick up any slacks in declines. Were bouncing back up with wti. And it likely rose for the fifth straight week of any supply productions. And the rate in alberta, this comes as Many Companies remain offline in the wake of the massive wildfires. We mentioned European Banks higher credits boosted a lower than expected loss. And its been declines in Investment Banking unit, shares trading lower is that right . No, thats higher. Weve got the wrong one, but well get it to you. The firms ceo did speak with cnbc about some of the challenges a little earlier this morning. Have a look. Last time we spoke, it was really a scary time. January was the worst january in the history of markets. I was speaking after four weeks of that. Since then, february was bad, a little bit better than january. March was better than february. And april was better than march. So were clearly on an improving trend. So, clearly, the overall macro environment is tough. Trading was a big point of weakness in this report. But there is some reassurance that the Wealth Management side which the ceo has changed the focus to looked a little better. Yeah, definitely and i think flows as well in asia which is one of the reasons hes done very well in the past with prudential asian business. That showed great strength. The interesting thing as we step back from the European Banks, the themes which we just heard, january terrible, february still bad. Starting to move in march. The themes for the banks kind of similar but the performance has differentiated. And Credit Suisse bouncing. Theres the right one, yes. Up 6 . Versus ubs falling quite significantly. I think the individual Company Issues still rocking what the European Bank themes in general across both side of the atlantic. The other area weak trading. Weak trading. And m a number is not too bad. Even though thats an area that the business is moving away from. Less bad than what people expected. Its a relatively light day for earnings in Economic Data. The National Federation of independent businesses puts out their report at 6 00 a. M. Eastern. Thats wholesale trade and job openings. Joltss at 10 00 a. M. Norwegian cruise line reports results after the opening bell, we hear from disney and electronic arts. Landen joins us. Wall street is looking for earnings of 1. 40 per share on revenue, 13. 2 billion. But beyond the numbers here are three things to watch first, succession plans this will be the firms first fall since the resignation of the ceo. And its not expected that we heard the name of a replacement, iger plans to leave the firm in 2018. Second, espn, cord cutting is a big threat for the most profitable business resonating. Keep an eye on espn ub scribie i subscribing numbers. Well see if that trend can continue. And third, the box office blockbusters, the street expects the force is still with disney thanks to studio mega hits like zootopia and stock has rallied up nearly 16 . I think i read in a report that disney has the top three First Quarter revenue box office hits. Whats interesting theyre continuing to dominate the box office. I know landon this isnt the only thing for disney. You mentioned that espn is very important. They have three of the top five in the 2016 top grossing films zootopia, batman versus superman, jungle book. Batman versus superman and jungle book wont go over until next year. And shanghai park which opens june 18th. Landon, thank you very much. Shares actually flat for the year. I wonder what the espn reaction is. Over a decent past 12 months. Up more than 11 or so. The drama lending cut appears to have unravelled. The internal probe into its Business Practices led to the resignation of its ceo yesterday. The investigation focused on more than a 20 million loan to a single investor and violated the firms practices. Thats bringing the ceo and lending board member john mack into the spotlight. According to reports, mack i invested in the same that reports this travesty. The stock has falling more than 60 in solarcity from the 52week high set about a year ago and down almost 20 into the open. Gap reporting seeing sales decrease for the fifth straight month in april. The retailer continuing to struggle with weak demands at bahnah nan republic and old navy. Gap also expects First Quarter earnings to come in well below analysts forecasts. Another double digit move it looks like lower into the open gap shares down 13 . Insvensense reporting a loss. Maker of iphone 6 and sam sung galaxy phones. Sothebys auction has fell 35 . The company says the Second Quarter is off to a strong start helped by rising sales. Hertz is backing its earnings forecast for the year. And selling shares of a pharmaceutical company, Pershing Square seeking to sell 800 million shares of zoetis. Ackman told us that shares rose last month. Making 2 million last year, viacom and cbs Board Members are planning on visiting redstone to evaluate him. Still to come, well gift ready for the trading day ahead with jpmorgan. Global Market Strategist michael bell. Including down 8 for the time. On this day in history, apples music store reached 400 million songs sold. Later that same year, apple announced a promotion counting down to. And to date, 35 billion songs have been purchased from the itunes store. Get ready for the rio Olympic Games by switching to xfinity x1. Show me gymnastics. X1 lets you search by sport, watch nbcs highlights and catch every live event on your tv with nbc sports live extra. Im getting ready. Are you . X1 will change the way you experience nbcuniversals coverage of the rio Olympic Games. Call or go online today to switch to x1. Good morning, welcome back to Worldwide Exchange. Futures higher trade of the day. The s p 500 roughly flat for the month. And for the year how can investors still score returns if were looking at a sideways summer . Well, our data team krurccrunch some numbers to figure out the stocks that do well when the market goes nowhere. The it turns out the top are consumer discretionary, consumer staples. And it has performed a socalled sideways market. The dow is coming off its first down day in the last three sessions but the nasdaq is on a winning streak posting its first backtoback gains in more than three weeks. Joining us michael bell global strategist at jpmorgan. Michael, very good morning to you. Lets talk about u. S. Equity markets first. Weve had five Straight Days of gains now for the u. S. Dollar index. Is that a concern for the equity markets . I dont think so. We think that the dollar is going to remain broadly stable. We think that the sort of large rally in the dollar over the last 18 months or so has come to an end. For now on, the dollar is going to lead consistently higher. So what is it, is it oil that has led to the stumbling block . Or is that what weve seen now in shortterm correctiontype moves . Well, the oil prices have actually allowed to be higher in somewhere in the 40 to 60 a barrel range. As long as oil doesnt continue falling like the last couple of years, in fact, the oil price has been one of the main reasons that youve seen a fall in the u. S. Dollar. With stabilization, those two factors will be helpful to know even though in the next quarter, perhaps well get weak earnings. By the end of the year were expecting earnings to be up. Michael your expectation for fed hikes this year is what . We think theyre going to raise rates twice this year. Its hard to say when that first rate rise will come. It could be september for the next one id expect one more probably in december. So two more by the end of the year. Do you think some of the new found fears of growth slowdown in the u. S. Are justified . I know we get into this every time theres a little slump in the data. But this one especially backed up by a weaker jobs report is raising some concerns. Are those justified . I think if you delayed the market slow and meanfully, that would be a course for concern but i dont think the latest report really showed that. Clearlies the Unemployment Rate gets lower, though, its just less people who are actually out of the work. And therefore, the rate at which you can create new jobs is going to slow somewhat. If you actually saw deterioration in the labor market, that would be a significant course for concern. I think what you will see, the pace of jobs growth will slow somewhat. As long as it remains healthy north of 150,000 a month. That could be consistent with u. S. Equities. Michael, with local elections behind us in the uk, the focus on brexit picked up from yet and will remain elevated until june 25th. Has sterling been a little too strong against the u. S. Dollar, with that impending vote coming up . Were back around the 144 levels, and it was 138 pretty recently . Yeah, i think the markets moved into pricing into lower probability of brexit than it was only a few weeks ago. I think if the result was to be if the uk left the eu, then we could see sterling fall really quite sharply from the levels were at right now. At least 10 , maybe 15 . However in the course that we say in the eu, then i think sterling would actually rally somewhat. And could be volatile. Michael thank you very much for joining us. Much appreciated. Michael bell. Hes not worried about anything. Oil, dollar, sterling. When we come back, this mornings top political stories a steph curry, hes back. And the twitter and facebook question of the day, big Earnings Report will be disney. It got us thinking, whats your favorite disney movie of all time. Its an absolute nobrainer. I look forward to sharing. Great. Mine is a childhood favorite. First before we head to break, heres the gnanational wrerth forecast from jen carfagno . After we seen a day with hail larger than golf ball size, we have a forecast today, thunderstorms possible, more likely damaging winds and hail, though. Thats possible into parts of the ohio valley, pa duducahpadu memphis, and another round of weather into texas. Were going to see storms likely have large hail south of the dallasft. Worth area. Guess what, weve got more area in d. C. That makes day 14. An old record set back in the 1800s. We might see record high temperatures in texas. Otherwise, below average in parts of the north and east. Im meteorologist jen carfagno for the weather channel. Worldwide exchange continues after this. Welcome back to Worldwide Exchange. To todays political news. Voters go to the polls in nebraska and West Virginia today. Tracie potts joins us live from washington with the big stories from the campaign trail. Tracie. Reporter well, lets start with Bernie Sanders who may not sound like a big story but he had a big rally in california. He said hes going to win most of the state its and pointing to numbers that show him beating donald trump by wider margins than Hillary Clinton. We are going to fight for every vote until june 14th. Just a few hours ago in sacramento, Bernie Sanders told the late night crowd of 15,000, he expects to win todays primary in West Virginia. Then california, plus five other states. Donald trump is not going to become president of the United States. Trumps already tapped former rival Chris Christie to handle his transition team. And hes courting others in washington in separate meetings on thursday. Speaker paul ryan now says hes willing to accept down as convention hair. Hes the nominee, ill do whatever he wants. Trump is looking past the convention bringing up bill clinton to cnn. He was impeached, he was impeached and then he lied about it. I have nothing to say an reporter clinton calls pulling out of nato reckless and dangerous. Shes quoting email. But bracing for a loss in West Virginia today. Did she plan to be competitive in kentucky. In fact, shes pulled out ads that are going to run later this week in kentucky. Tracie, thank you very much. Now to sports, steph curry, as you know has been out of the action for the past two weeks after spraining his knee. The warriors star returned monday night for game four of the teams playoff series against the portland trail blazers. After shaking off some rust, curry came alive in the extra frame hitting a long three to put golden state up by five. He would hit another three to seal the deal. Part of a game high, 40 points with 17 coming in overtime. Warriors winning 142135. Going up in the series. A lot of people were worried because he did sort of start off slow and came back full curry form. He did indeed. Hell also be picking up another piece of hardware off the courts. Sources say hell be named the sports mvp for the second straight season. And becoming the first player in history of the game with 35 points in less than 35 minutes in the night. Hell be the Second Player in warriors history win mvp. The records, i cant keep track of records. The Robin Hood Foundation raise 60 million as a fundrais fundraiser. Leading donations a 15 million challenge grant from the basis Family Foundation and the overdeck Family Foundation. Cnbc caught up. Its an organization that is really almost like a mutual fund of the best investing in Public Policy that you could possibly imagine. So, for example, if you somebody you didnt necessarily know what do i do for Early Childhood education, or maybe what do i do your jobs or what do i do for hunger relief, you could know that making an investment in robin hood would be a fantastic way to know that your dollars are going to really good use. When we come back, this mornings top stories including the Global Market rally. Weve got to talk about oil. Dennis gartman joins us with his take. Youre watching cnbc first in business worldwide. In under an hour. Whole communities are living on mars and solar satellites provide earth with unlimited clean power. In less than a century, boeing took the world from seaplanes to space planes, across the universe and beyond. And if you thought that was amazing, you just wait. Cathys gotten used to the sme. In her kitchen rbage. Yup, shes gone noseblind. She thinks it smells fine, but her guests smell this. Ding, flies, meow febreze air effects heavy duty has up to. Two times the odoreliminating power to. Remove odors youve done noseblind to [inhales] mmm. Use febreze air effects, till its fresh and try febreze small spaces. To continuously eliminate up to two times the odors. For 30 days febreze small spaces and air effects, two more ways. [inhale exhale mnemonic] to breathe happy. Good morning. Credit suisse popping details on the firms better than reported rally coming up. Stocks rebounding. Are investors getting the story right . And watch out for spotify looking to break into the video game. Its tuesday, march 10th, 2016. Youre watching Worldwide Exchange. Good morning, welcome back to Worldwide Exchange on cnbc. Im sarah i eisen. And im wilfred frost. We mentioned were looking for a rebound on equity futures after the dow closed lower yesterday after oil collapsed more than 2. 5 . Nasdaq futures up 13. We see the high volumes and trading activity that we saw in yesterdays session. As for the tenyear treasury note yield, good barometer sentiment to start your day this morning. Little in the way of economic date it. Well get the jolts report later. The yield slightly higher. 177. The dollar slightly weaker against the euro. Asia closed in positive t