big earnings beat. we'll run you through those numbers coming up. it is tuesday, march 19th, 2019. worldwide exchange begins right now. let's get a check on your morning setup. futures right now pulling through modest gains again for the markets. the dow slated to open up by about 85 points. the s&p by about nine, and the nasdaq up by just around 22, 23 points treasury yields also in focus as the fed kicks off a two-day policy meeting right now ten-year treasury note yields ticking slightly lower. 2.59% the last trade there two-year note yields just a hair below 2 .45% now, let's go worldwide in the

asia session we saw some modest losses in that session overnight the nikkei japan just about flat, but just a little to the down side. the hang seng and hong kong .2% to the up side on the european side we are seeing a little bit of positive moves coming through there the german dax up by .3% the cac in france one-quarter of 1% outside of stocks, here's a look at the commodity and currency picture. oil right now hitting its highest level since november you can see there wti crude up a half a percent $59.34 euros right now some dollar weakness $1.1353 is what it will cost to buy a euro, and gold up. palladium rose and then pulled back a bit the risk of russian exports

added to concerns there. more than half is used in things like cat littic converters in cars it's up 30% already. you can see that here so far this yoer. let's talk more about the markets ahead and that big day joining us me now is nick, head of global bonds and portfolio manager of the absolute return income opportunities fund at janice henderson nick, thank you so much for joining us we have given viewers the market setup here taking us through what exactly is the biggest thing that we need to watch this week given the idea that the fed kicks off a two-day policy meeting and we still have a lot of things going on in the geopolitical side of things as well >> well, that's absolutely right. what you are seeing in the market is it's eerily quiet on the data front in the sense that volatility is very low that also means that there's a lot of heightened risk through european politics, brexit, china and u.s. trade relations, and also obviously the fed with the fed we're expecting really two main focus points whether it's on the stocks and

bonds, mainly respect to the dots, are they going to move the dot plot down to reflect there's going to be one or zero rate hikes left in 2019, and whether or not we're going to get balance sheet explanation as to what their intentions are for the remainder of the balance sheet for 2019 and beyond. >> so let's talk about those dot plots. the forecasts that fed members have about where they think interest rates will be what is your expectation and how have you positioned your portfolio in investments to either take advantage of or prevent against something on those dot plots happening? >> sure. so in our view, we believe that the fed is likely to -- powell will jubl u double down on what his messaging was at the last meeting, and that was to exercise patience. they have time on their side i object flaegs is low the data points are coming out of the u.s. and they've been mixed at best. they've been, you know, marginally good from time to time the expectation is from our perspective that the front end of the yield curve remains

extremely attractive the liablehood of future rate hikes has been pulled off the table completely what that means is that if the fed is no longer hiking interest rates for the remainder of 2019 and beyond, the next move is likely down. what that means is they're likely done as well. the fed already will be leading the charge, exercising patience, no more rate hikes for 2019 and beyond the next move down, and then all future central banks on hold for the foreseeable future >> if that is your view then, does that mean that we now have an all clear signal for risk assets this idea that no central banks will follow the bank's lead and if there is a cut to rates, isn't that bullish for risk-related assets? >> it can be if the fed messages it correctly, the big thing is that the fed needs to not send mixed messages they need to remain transparent. that's one of the issues we encountered in late 2018 is we were getting these mixed

messages from powell and company. as long as they remain transparent, it can be bullish front of the yield curve remains attractive risk assets will do well we also expect further sipging in the u.s. yield curve also >> how does this play out then with regard to credit versus sovereigns is there an opportunity more on certain parts of that bond market right now i say that only because we've seen such a huge rebound in things like investment grade corporate here in the u.s. also high yield as well from those lows that we saw back in december does that mean that we're supportive of that kind of fixed income investing as well at this stage? >> sure. absolutely i think that high grade credit, high yield credit will stay relatively buoyed. it doesn't mean that you're going to get significant capital gains or spread contraction from the assets that you own, but, like you said earlier, you're actually encouraged to take on risk assets, so you might as well capture that carry. again, the focus needs to be placed on the front end of the yield curve because there's no need to extend and take

excessive duration risks one of the things we look at is are you being compensated for moving out the curve, and you're not. you can essentially create a portfolio that has 90% to 95% of the yield by focussing on the front end of the yield curve by taking only one-quarter's worth of duration. why take that kpr interest rate duration when, like i said, the fed is giving you the all clear button they're encouraging you to take risks and assets and buy up risk assets, but also, focus on the front end where you could get further rate cuts down the line, but also benefit from that duration that rolled out to maturi maturity >> nick, thank you so much for joining us with your market thoughts this morning. we appreciate it well, new this morning, the white house is out with new numbers on where it sees the economy headed over the next decade what's the headline? the trump administration expects the economy to keep booming thanks to more tax cuts, reduced regulation, and infrastructure spending the annual report from the white house counsel of economic add

viedsors sees the u.s. economy growing at 3.2% this year and 2.8% in a decade from now. the report also warns against so-called progressive policies like a well tacked and medicare for all. the trump administration says those policies would hurt the u.s. economy we'll have more on this coming up live until a live report from washington later on in the show. let's get a check on the morning's other big headlines. frank holland joins us with those. good morning zbloosh. >> here's what's leading cnbc.com boeing doing some damage control following its second fatal crash in less than five months the company's ceo says boeing is "relentless when it comes to safety." he also addressed the investigation into the ethiopian airlines crash last week that killed 157 people. >> the investigation is moving forward with work underway to understand the information from the airplane's cockpit voice and flight data recorders. our team is on site with investigators to share technical

expertise. soon we'll release a software update for the 737 max that will address concerns discovered in the aftermath of the lion air flight 610 accident. >> right now boeing shares are down just about a quarter of a percent. now to the streaming wars, netflix is saying no to apple. the streaming giant says it will not make its tv shows and movies available through apple's service. the ceo says we prefer to let our customers watch our content on our service netflix shares are up very slightly the securities and exchange commission broadcasting elan musk for a series of tweets he sent last month. the s.e.c. says that musk is in blatant violation of an agreement in which he would get preapproval for all tesla-related tweets the s.e.c. says that musk is in contempt of court. elan musk disagrees. shares of canada-based marijuana maker tilray is soaring. the company doubling sales from

just a year ago. the ceo says the company is now looking to the u.s. for its next leg of growth. >> we finished the year with about $500 million in cash on hand, and we'll continue to invest right now canada certainly is important, but when we look globally, the united states and europe are a magnitude more important larger and so we're looking to aggressively deploy capital in the u.s. and europe right now tilray in the green. up almost 2.5% dom, over to you wrrks. >> thank you, frank, for those now let's turn to the wall street agenda. it's another big day the fed kicks off a two-day policy meeting we get factory orders at 8:30 a.m. eastern time, and on the earnings front we get results today from chinese tech giant xiaomi and fedex here in the united states. well, we are just getting started here on worldwide exchange coming up next, the big brexit battle theresa may dealt another major

blow with just ten days to go until the u.k. leaves the e.u. we are live in london with the latest that's straight ahead. later on, crude realities. opec ministers meeting we'll take you there live when worldwide exchange returns right afr isteth with your golf clubs. now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call, we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks.

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you are watching a live shot in chicago, illinois, where people are just starting to stir to get their day started right now. welcome back to the show i'm dominic chu. futures indicating another positive open in session today the dow slated to open up by just about 84, 85 points at this stage with the s&p up by just around maybe nine, ten points at this stage the nasdaq up by 21 points as well on the asia side of things, we did see a little bit of a pullback in certain key markets there, bit not much. the shanghai composite up by .2%. the hang seng and hong kong was actually higher by .2% the nikkei in japan oof about .1%. the feeling in europe right now is generally positive. there's green across most of the major forces on the continent. the dax in germany up by .5% the pak in france up, and the ftseey 100 in the u.k. up by about .5% as well. let's stick with the europe side

of things. the clock is ticking towards brexit we are now just ten days away from that, and theresa may was just dealt another major setback. wilhem marks joins us live with those details. is a vote going to happen? it seems not >> that doesn't looks like it's going to happen today or tomorrow now cast your mind back just a week. theresa may had rushed to straussburg. she signed a series of legal agreements with her european counterpart rsh she came back here to westminster last tuesday. put her deal to a vote in the house of commons for the second time, and lost by 149 votes. the following day she allowed mps to vote on whether they wanted to leave the e.u. without a deal they voted against that thursday they then voted for an extension. part of the government's motion, the paper they put forward to parliament last thursday, talked about there being a vote this week that would be the third vote on essentially theresa may's deal, and what happened last night,

and this is the blow you referenced, the speaker of the house of commons here decided that allowing a third vote on essentially the same deal constituted a break of precedent. that's a precedent going back to 1604 we're talking pre-jamestown settlement era back to 1604 that's something that kind of surprised number 10 downing street here. the government didn't have an initial reaction we heard from the brexit minister here this morning, though they now do not see there being a vote this week they do not see that they will take any kind of emergency measures involving a new session of parliament and imagine the queen having to come and open a new session of parliament. it does look like theresa may will have to go to brussels and ask for an extension of the europeans and will come back here next week to see if she can gether view back through >> how long will the extension be we are ten days away from a deadline let's say they do extend it. do they get any more progress done two weeks after that, two

months after that, sick months after that, et cetera, et cetera you see where i'm going. how long could this take how long do we -- what theresa may was hoping by holding a deal -- a vote this week is that she could request for a short extension? she wanted three months to try to get all the accompanying legislation through around brexit, given that she's not likely to have that vote before she goes to brussels to ask for its extension. what she's implied in the past and what her ministers are saying now is that we might be looking at a longer extension, and it's very much in the lap of the gods in fact, in the lap of those european leaders they can decide how long to insist upon after a thursday afternoon meeting. >> all right a lot of drama still building in the u.k. parliament with regard to brexit. willem marks, thank you for the update coming up on the show, goldman sachs is doubling down on diversity. we'll tell you about the big push that they are making at that big bank, but, first,

betting on the middle east saudi arabia's stock market has been on a tear, and now you can get in on the action we are live from saudi arabia. >> that's right, dom investors certainly feeling the love for the the saudi stock market joining the ftse market indexes. n t vobo h ystions autowou cageinlved and we're going to tell you all that and more after the break. ♪ ♪ move to the enterprise-grade cloud

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welcome back futures right now pointed to another day of gains at least early on the dow slated to open up by just about 90 points the s&p 500 up by about nine points, and the nasdaq up by just around 22 saudi arabia's stock market has been on a tear it hit its highest level in nearly four years today and now you can get in on the action hadley gamble is live for us in saudi arabia with the latest on the emerging markets and its inclusion of saudi arabia. hadley >> that's right. so much excitement right here in saudi arabia and riyadh in particular as the saudis finally reach a new level incorporating, of course, emerging market index. major developments that are going to come for the saudi stock market we're talking about derivatives trading in the coming months all of this, of course, in major preparation mode now for this ipo that we have a date for. 2021 i asked the ceo how much more

needs to be done from the company and from the stock market to be ready let's listen in. >> in the crown prince's dynamic vision, tourism is next because it's a tremendous generator of jobs 119,000 new jobs we will attract 7 million people here by 202 3. we're on a fast track. you know, the boss, the crowned prince, 18 hours a day, six, seven p days a week. you never saw anybody with passion and a work ethic we're one of the first there are several major projects, as you know. red sea, et cetera the crown presence has a broad vision of tourism. we're the first out. we're the oldest you know, and we're the first that will come in. >> we thought we were bringing you the ceo tll talking to you about the ftse russell index we're listening to the gates

project. we're about 15 minutes from downtown riyadh. this is a multi-billion dollar development as well as major, major developments all of this, of course, surrounding the push by the kingdom, guys, to move it into a new and improved tourism industry this is about import and exports. they want to export saudi culture to the world as well as other items, and they also want for bring that director investment to the kingdom. a heck of a lot going on in saudi arabia, and we're going to be planning to keep you live >> food and beverage, hotels, tourism. the one thng i didn't hear you emphasize a lot is oil and gas that's what many people associate with saudi arabia. as we talk about its inclusion in these indexes, is there a point from your side of things where you feel as though the government in saudi arabia or the monarchy itself wants to change its image with regard to what saudi arabia investing is all about? it's not just oil and gas.

>> oh, absolutely, dom i think it's going to be really interesting to watch all of this develop. i'm standing here in the middle of a multi-million dollar development that hasn't slowed down is, and it's despite all of the external pressure, whether it's from the u.s. government or european governments and from the investors itself so many questions have been raised over the last year or so given the murder as well as the ritz carlton crackdown a lot of people questioning whether or not they really want to get involved here, but certainly with what we've seen over the last 24 hours, the dow inclusion and ftse russell emersion market index, a big bump up for the saudi market they're anticipating $30 billion in asset funds to come through over the next year or so a lot of excitement still just for those externally getting involved in the saudi market finally, but also for the saudi company listed on the exchange

let's get a check on the top headlines outside of the world of business. francis rivera is in new york with the latest there. good morning, francis. >> hi, dom good tuesday morning to you. there's a massive inferno that's raging at a petro chemical plant outside houston spewing clouds of black smoke into the air. >> five more counties are included as the historic flooding continues to devastate the midwest and the plains the flooding cut off communities across the state rescue crews have been working to save humans and animals a donkey and three ponies were saved in waterloo from the rising waters there. we could soon get a glimpse into the investigation that brought down michael cohen later today prosecutors will relice redacted copies of the search warrants used in last year's raid off the home and

offices of the president's former attorney and fixer. the fbi scoured cohen's office and holtz suite looking for information about alleged hush money payments to two women who claimed to have had affairs with president trump. the search warrant could reveal how authorities learned of the payments and what they sought to gather those are your headlines >> all right, francis riviera. thank you so much for those. coming up next on the show, trump's big money crystal ball the white house out with new projections from the u.s. economy. we'll take you live to washington with those details. plus, oil prices hit a fresh 2019 high. we'll tell you what's driving higher

pushing higher wall street in the green this tuesday as the fed kicks off a two-day policy meeting we'll break down the key things to watch that's straight ahead. a big bet on the future. the white house out with new numbers on where it sees the economy headed we are live in washington with those details, and crew alert. oil prices hitting fresh 2019 highs. we'll find out what's fueling the rally. it's tuesday, march 19th, 2019 you are watching worldwide exchange right here on cnbc. ♪ i'm dominic chu.

brian sullivan is off today. let's get you to the top headlines. frank holland is back with your morning headlines. >> cnbc.com right now. boeing is doing some damage control following its second fatal plane crash in less than five months. the company ceo says boeing has been relentless when it comes to safety he added the investigation is moving forward and that a software update for the 737 max will soon be released. the brexit battle roll on. u.k. house of commons dealing theresa may another massive blow effectively banning her from bringing her brexit deal back to parliament for a third time. this comes just ten days before the u.k. is slated to leave the european union and the s.e.c. is blasting elan musk for a series of tweets that he sent last month it says that musk is in blatent violation of a settlement agreement in which he would get preapproval for all tesla-related tweets the s.e.c. says that musk is in contempt of court. elan musk disagrees. find out more on all the top

stories on our website, cnbc.com >> all right, frank. thank you very much for those. new this morning as well, the white house is out with new numbers on where it sees the economy headed over the next decade elan joins us with notices numbers. >> this report is really trying to accomplish two things the president's economic policies are orking, and warn about what would happen if democrats were in charge instead. what is working in trump's economy? well, tax cuts the report says that real disposable income was up $640 over trend by late last year that's a result of the new tax law. also, deregular rags the report says that rolling back regulations has saved $3.2 million since trump took office, and the cost of prescription drugs are down the white house says the price of drugs compared to inflation is down 11% from the pretrump trend. all of those stats are just fixes for the administration's forecast of roughly 3% growth over the next decade the white house knows that that

is much higher from the outside consensus, but it says that those projections assume that all the president trump's future proposals become reality the report says we demonstrate these departures from the recent trepd sht ax l accident l aand reflect trump's administration's delivered measures to maintain conditions in which the u.s. economy can achieve maximum employment what could go wrong with all of this well, the administration says socialism and more specifically, programs like medicare for all the white house estimates that would reduce gdp by 9% and reduce after tax income by 19% clearly the message here is that president trump will deliver on growth while democrats' priorities will put a damper on growth dom, that is a highly unusual political message for a report like this. >> political for a reason, though, too, right we have representative alexandria cortez, a very vocal voice on many things like a higher marginal tax rate

upwards of 70%, perhaps. a proposal being floated out there by her >> he also showed that her proposal would actually lose money when you factor in things like behavioral changes and the changes to the economy they say this would be a money loser. i think that even including this report, it shows how much of a danger the administration considers some of these progressive ideas and how they're trying to lie the ground work the battle has already started as we hear candidates talk about unwinding president trump's policies this is really how they're laying out in very stark terms what the choice for voters will be in just a little over a year from now >> all right this is very much about the 2020 election for sure. please stick around.

let's now bring in tony fratto to the conversation. he is founding economy of common place strategies and a cnbc contributor. tony, thank you so much. you heard elan's report on the report from kevin hasset what stood out for you as being one of the most impactful statements the president is trying to make >> i think the point that elan made that they need to do things you need to see those tax cuts that came a year ago, stay in place, and potentially do taxes, and also things like, you know, large infrastructure spending. you know, no one denies that we could really use a boost in inf infrastructure spending. they built it into their professional as something that needs to get done to achieve growth, and also, be good for the country. i think everyone would love to see that no one -- or very few people

think you can ka achieve those things, especially given where congress is right now. >> tony, there are some who would argue that the white house and the administration has a bit of a communications problem with many parts of the market or parts of the public. you were a former communications official within a republican administration what exactly can president trump do and his advisors to get across a message before the policies being enacted >> look, i think they actually -- if you talk to people about how they feel about the economy, whether the economy is doing well, they are generally positive about it. people in the market are generally positive about it. i think we see that reflected in economic -- in economic data, economic sentiment, and in equity markets i think that's going to -- i think what market participants also understand, though, is that that growth that we've seen over the last, you know, couple of

years has been fueled by things like the tax cuts and significant increases in spending we have, you know -- we're at deficit spending right now in the 4% plus range. those are -- that's the range you kind of would like to see if you were in a recession. they're not sure how long that's going to go on, and whether we're ever going to get deficits under control. they need to have answers to those questions, and, you know, a wish list that an economic report of the president probably isn't going to be enough to do it they're going to have to talk to them directly about how they're going to get those things done in congress. treasury secretary steven

mnuchin has said that the $1.5 trillion tax cuts will eventually pay for themselves through growth one thing that hasset said yesterday was a different argument he said that the 3% growth the administration has made such a symbolic goal for the white house will come by each of the pillars of the president's policies being implemented it's not just the tax cut, but it's also deregulations. it's also the infrastructure all of those pieces together are what would be needed in order for the administration to continue to see that 3% growth i thought that was interesting because what it means is you need all of president trump, right?

>> the company is boosting growth and we have super low unemployment right now, and seeing wage growth that's going to be really important. that's a message they'll have to take to get some of the priorities they put in their budget it's going to have to be infrastructure and a place where they might be able to get compromise crude prices touching fresh highs as opec ministers and

their allies wrap up a meeting cnbc's dan murphy is there with more on what happened at that meeting. >> well, dom, saudi energy minister colin has said that there is a consensus among the major producers for an extension of the opec supply agreement they're really taking that in stride aat the same time we also heard the compliance among these major producers that is improved up to about 90% in february and that is a significant development also helping to push oil prices up to four-month highs. we've also learned that a decision has been made to cancel the april opec meeting and while that is sounding like a dramatic headline, it's not necessarily the case it's not so much of a surprise that's because these producers need more clarity on a number of key uncertainties facing the oil market right now of course, among them, the u.s. sanctions against iran

one other key uncertainty is the situation in venezuela, which has also seen its production being crippled because of those u.s. sanctions we here at cnbc have the opportunity to ask the venezuelan petroleum minister to respond to the united states and asked him does he have a message for president donald trump here's what he said. >> venezuela has denounced from our country the economic attack that has been directed against our economy. especially against our petroleum industry it affects all venezuelans when they attack and black-outs happen like have happened in our country, and we have stopped generating resources that are needed for food, medicine, and national development >> the supply agreement has pushed up brent crude prices by 25% this year, and there is a eye clear view that we've been speaking to that they see the need for the cuts to continue in order for prices to keep going up back to you. >> dan murphy with the latest on opec thank you so much for that still ahead on the show, the

cannabis craze the one pot stock that's flying high this morning. we'll bring you that name ahead. first, a fast food alert mcdonald's is testing a new kind of chicken nugget, and it's sure to have everyone in the office talking today because it's not schiken. the details when woshldwide exchange returns after this. , wh met a burst pipe. so grant met his insurance: you are caller number 12. which didn't quite cover the steinway. but what if he'd met pure insurance? owned by members. he'd have met: lisa, your member advocate. who'd introduce him to gustav: leave it to me. a temporary address, temporary ivory, and help him get tickets to the mozart festival. excuse me, grant likes beethoven! uh, the beethoven festival. pure. love your insurance.

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>> that is a live shot of hong kong it is now 5:43 p.m. over there a beautiful city out there they are just winding things down after their trading day stable markets in china and hong kong welcome back to the show i'm dominic chu. futures poiptding to a decently higher open. the stocks in the united states. the dow jones opening up by just around 110 points. this is the high of the session so far this morning the s&p 500 up by 11 points the and nasdaq up by 27 >> i have a lot of water cooler talk it's kind of a sign of the times. for the first time ever more americans subscribe to a streaming service than traditional cable and satellite. this is according to a new survey from deloitte 6.5% of americans subscribe to at least one streaming service while just 65% have a traditional pay tv subscription

like cable or satellite. the survey goes on to say the average u.s. consumer subscribes to three video services that stream >> do you? >> of course who doesn't? >> i do. >> there's a new cliche that content is king. there are so many great tv shows. netflix, they're going to spend about $13 billion on content this year. last year they're doubling what they spent last year hbo spent $2.5 billion you are seeing the ramp up by netflix. they have so many niche shows that reach out to each individual person. >> the story has changed so much five, seven years ago it was about the library of content that they had. shows that i had already seen, movies i had already watched now it's all about individual production >> hbo in my mind is still the gold standard. game of thrones. i have to see it >> i can't wait until -- >> they have their own streaming service too. there you go well, goalman saks, they're saying half of their new analysts must be women it's part of the program aimed

to improve diversity at the investment bank. goldman has set targets also for black and latino hires they say the targets are aspirational, and he said we have access to incredible talent >> we have something at cnbc called closing the gap we highlight these stories that companies are trying to make a concerted effort starts at the boardroom and then moves down towards the rank-and-file. with goldman sachs, a great story because you know there's a lot of talent. they pick from some of the best schools all over the world, and they can get people. >> you know, you mentioned from the top down, but i think from the bottom up is also a great way to diversify people become invested in an organization where are they can build their way up then you can't say, oh, thatter just there because it's for diversity. they can earn their way to the top, and all of us want to earn our place. >> all right now it's a little fast food news mcdonald's has a vegan option. the chain is now searching up vegan mcnuggets. they're made up of potatoes,

chicken, and corn. they're batter fried >> it's not meat >> they are only being tested in norway for now i'm okay with this >> i'm okay with this as well. i would be curious to see what kind of market you really have for this at mcdonald's is the intention to bring more customers into mcdonald's or to get existing customers to try something new? >> i'm not sure. i do know this i looked this up plant-based food business has grown 8% over the last year, $3.1 billion it's a chance noerm to reach out to customers, whether new customers, existing customers. it's a way to make money >> i've got a good friend who loves meat and recently turned me on to some of these alternative meats, the ones that are based on plant-based products, and i have to tell you, i wasn't that put off by it i could eat it >> have you tried an impossible burger

qudoba is doing impossible crumbles it's not the same, but it's pretty good. something i'm going to try it out. >> thanks. >> thank you very much for those trending stories well, in the sports world, the women's march madness brackett came with a big surprise for the first time since 2006 yukon is not a top seed. the number one seeds are defending champion notre dame. you've got baylor, mississippi state, and louisville. the women's tournament kicks off on friday. it is march mad bs, but this resonates more with some of the listeningers and viewers out there. yukon basketball, a very big deal still ahead on the show, behind the global slowdown how a pullback in europe and asia could weigh on your money, but, first, the streaming wars are heating up netflix just weighed in on apple's new tv venture the details when worldwide exchange comes back after this

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a software update will soon be released. shares of tilray are flying high this morning the canada-based marijuana maker seeing a big earnings beat the company says it is thanks to canada's legalization of marijuana and accelerated wholesale exports. and on the streaming wars netflix says it will not mak its tv shows and movies available for apple's upcoming video service.

netflix ceo saying we prefer to let our customers watch our content on our service netflix shares up changed. up by -- >> let's get a quick check >> joining me now. >> does this mean that with everything on balance that we have a little bit more constructive for our useers and more cautious. >> well, you know, i'll just take a step back and say at the end of the year i thought it was overdone we did get bullish i thought the fed was going to change to me the slower that we saw, it was largely fueled on what i characterize as a

miscommunication by chairman powell around the production of the balance sheet. soon thereafter they reversed that i think most of the catalysts are from europe, and i am adopting a daushs stance we're placing something like a goldilocks on the market we're seeing on the funlts side when it comes to growth globally as well as -- >> okay. take us through this cautious thesis then. what exactly are you watching right now to see whether or not that caution is warranted or whether or not that kauks is just a way for perhaps people to get into the market and make way for higher prices? >> i think the global data is very important particularly data coming out of china.

china is experiencing arg nike slowdown as well we're looking at manufacturing and services in the united states factory orders were a bit weak we're seeing that deceleration in all the statist i objects we look at when it comes to the fundamentals the other thing, of course, we're looking at is the communication we get on wednesday from the fed around the balance sheet. >> speaking of the fed, balance sheet is important a lot of folks out there, including guests prior on the show are has indicated they will be watching the dot plots for where interest rate policy is headed is that a potential catalyst given the economic slowdown points that you were watching right now? >> well, the dot plots are very interesting. there's bin quite a bit in the press and some indication of the

fed that they want to diminish the importance of the dot plots because it's causing some confusion among investors because they're a long-term expectation and they don't talk about the path of rates necessarily. i think we're going to be looking at the dot plots and more communication about how many hikes are left. the expectation was one more hike i think the expectation is also more clarity around exactly how far the fed will go on the balance sheet. >> is that a factor into why ten-year treasury note yields are hovering right around 2.59% and have been locked into some of the tightest ranges we've seen in years? >> i actually that's more of a function much the global slow slowdown long rates in europe, especially the bund are at 9 basis points ten-year jgbs are negative now,

and that's below the management target, and that's angering the long end of our curve. the lock of growth in the rest of the world is pushing capital into the end of our -- it's considered safe. >> i have been a fan of energy they've been on my sector. >> peter has had a big day heading up here and a big week that policy in focus as well that's it for worldwide exchange light get your check on the market dow jones right now near the highs of the session up by 100 points if these gains hold into the opening bell, the s&p 500 up by about 11 points, and the nasdaq 2.92 -- or to 29 points. treasury note yields around

2.59%. "squawk box" coming up without knowing firsthandthe try the unique challenges in that sector? coming out here, seeing the infrastructure firsthand, we can make better informed investment decisions. that's why i go beyond the numbers.

stocks are in the green again. we'll show you one fed president who will rerefrptively cut you can imagine who it is. you have a good name that we've practiced. and the s.e.c. firing back against elan musk saying that the tesla ceo never sought approval for a single tweet about the company defiling a court-approved deal. plus, bezos bombshell. we're learning hor about how the national enquirer obtained those

racy texts and photos between the billionaire and his girlfriend and how much the tabloid paid for them. it's tuesday, march 19th, 2019, and "squawk box" begins right now. freeze frame we're doing this for the pictures, aren't we? who has equity futures at this hour let's take a look at where things stand in the green once again. yesterday was an up day for the markets. the dow was up for its fourth session in a row, and this morning you can see that it's indicated up by almost 100 points s&p futures indicated up by close to ten poijts, and then the nasdaq indicated up by 27. dlook at