find out when james bullard the next great height. kathleen digging into some of the details about fed policy. this is "bloomberg markets." ♪ carol: quick check on the markets. we are pretty much holding on to highs. let's look at the numbers. we are looking at a 1.3 percent gain on the nasdaq for a gain of 64 point. the s&p 500 up 17 points. at thelso take a look dollar, erasing its gain after touching the weakest level against the yen since october 2014. oil, though, surging, having its test day since march 2016. we have seen some movement back into oil. joining us right now is joe weisenthal. what was your major takeaway of what we got? joe: i think it was interesting. there has been this huge debate about where the fed is on its inflation target. he says he is comforted by what he sees in the direction of inflation, also market-based measures of inflation. i think it is really important because that seems to be the last piece of the puzzle. we are starting to see more signs, some of the measures are taking up, especially if you lo

coming up in one hour, an exclusive interview with james bullard, president of the san luis fed. let's get to the first word news. -- president of the st. louis fed. turnout in wisconsin was better than anticipated, 47%, easily beating the 40% predicted by election officials. turnout was nearly 48% for the election in 1972. trump at 39% in pennsylvania with ted cruz second at 30%. in third with 24%. on the democratic side, mrs. clinton leads bernie sanders 54% . a year-long is an sentence for don blake and chip for his role in the deadliest u.s. mining disaster in four decades. -- don blankenship. the blast killed 29 people. he was convicted of conspiracy to violate mine safety standards. an icon of country music is that dead. -- merle haggard's death follows a hospital about hospitalital about julie -- bout with pneumonia. global news 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. india has cuthead interest rates to a five-year low. will it improve the economic outlook? christopher of wells fargo joins us. york, ted cruz speaking

louis had president coming james bullard.coming up, the dutch to the polls that it's a crucial one for ukraine. ♪ alix: "what'd you miss?" opposed an euave deal with ukraine. referenda in vote demonstrated some dissent with one of the bloc's founding members. today athat happened the polls in the netherlands. quite quiet during the day but it seems there was a theout of 32% which means referendum is valid. and it was a clear majority for a no vote. which means the dutch able were in a majority opposing the deal between the eu and the ukraine. joe: i think viewers are wondering why they are talking about how the dutch feel about ukraine. what's the real significance of this vote? guest: the people in the netherlands say they don't want and expansion of the european union and have the feeling too much desire outside the netherlands in brussels where people gave a clear signal don't want toy give more power to europe. scarlet: the dutch government has said it will respect the vote. what would that mean for the government or what

manus: president james bullard talks to bloomberg exclusively saying all meetings are lying.vealed a split debate over april rate hikes. tone out ofovish the u.s. central bank sets the greenback lower with asian markets mixed. galaxy gains. samsung handset helps to beat expectations. on the concerns that it cannot maintain the momentum. letter calling outcomes of an eu vote large and potentially unknown. ♪ manus: you are welcome. this is countdown. i am manus cranny. we have a little bit of a feast. 150 million pounds of a share buyback. there is a new ceo. this is his first -- program completed. that is the top line. continued tight management. gross margin between 240 and 250 basis points. fourth quarter, this is the food side unchanged. versus an estimate of a gain of .5%. likeh quarter, like for sales and that is where they hold the market dominant in terms of position. it has come in unchanged. you store openings program ahead of views. 1.9% on the quarter. thatally want to see what nonfood number is. let's bring you some of the fast retailing numbers. is cutting their f

urgency they do not find appropriate. .he odds not topping 50% speaking exclusively to bloomberg, james bullard says he is worried about the disconnect between the markets and changing fed expectations. >> there has been a long time disconnect and i have been that gets reconciled in some kind of violent way and there is a lot of turmoil caused in markets because of changing expectations. what the fed is going to do. the committee gives its best's -- best assessment of what it thinks is going to happen. guestet's bring in our julian killingsworth. morning. guy: is to bullard is saying we could see turmoil appearing when the markets wake up to the fact that the fed is more aggressive. that is great except the market was pressing zero chance. maybe we will see that become even further lower. julian: the markets for the whole of 2016 are suggesting on -- to rate rises. that is where we are now. -- two rate rises. that is where we are now. it reflect what we are seeing in choppy markets. probably slower growth than some had expected when we started the year. more of the same to come. cautious -- cau

with james bullard.ing kathleen hays and pimm fox on television and radio. ♪ alix: i'm alix steel. scarlet: consumer spending is set to accelerate this year to the trust -- strongest pace in more than a decade. for: what does it mean property investment and what doesn't mean for putting your money in high-yielding assets? it over toet's turn cory johnson in san francisco and carol massar, here in new york. carol: we welcome everyone. we do want to talk about the consumer appeared a new report in wakefield. bloombergned in our studio here in new york. nice to have you here on bloomberg. tell us about what you find, what you have left that in the study that says this will be the year of the consumer. >> we have seen a huge drop in oil prices and we have been concerned about where it is showing up. relatively moderate increase. a big reason for the slow growth is lower oil prices. people have been talking about how the decline in oil prices consumers to have more discretionary income to spend on other thing

loretta mester, james bullard, and dallas fed president rob kaplan.onstellation brands is reporting earnings before the open, and after the close we'll be hearing from bed bath & beyond. >> whatsapp is ramping up encryption. the messaging service owned by faby facebook is introducing end-to-end encryption. every whatsapp message is now so secure that law enforcement can't even read it. even if they have a warrant. this is the discussion we've been having about apple and the fbi all the time. joe has made the point over and over that technology marches on, and this is an example of it. you could tell apple one thing, but then somebody else is going to do the encryption themselves. here you have facebook doing it in this instance. the larger conversation going on in washington about what ultimately you do about all of these different services and whether there should be a back door, some way for government to have access to it in the instance in which you think there's a reason for it. >> i still have a problem with facebook. like yesterday we were talk