Another Federal Reserve meeting relatively unscathed but still need to face the uks big vote on whether to leave the european union. Fed agreed to do nothing and that keeps stocks on the agenda the place to get the short term for your money. The stock market rallied on the news as we sold off later in the day after oil plunged a dollar dow sinking 35 points s p slipping 0. 1 and nasdaq climbed by the same amount. Still, i was pleased to hear that the fed paid no attention to the idealogues who want higher rates. Why . Boo so they can be lower after they throw us into a recession. No. Im flat the fed recognized employment only grew by 38,000 jobs last month and that mattered to them. [ baby crying ] i like that they realize the economy is on a real slow growth path and that rate hikes arent going to be able to come in lockstep. The rhetoric that drove the stock market down hard at the beginning of the year. I like these things because they mean the fed understands that job creation has
Bonds selling off, too, with a yield on the tenyear topping 1. 5 , first time in a couple weeks. Has us wondering whether the early signs of 0 great rotation of under way. Kevin oleary, is that the case . No, i dont think its the case. Why ill hold back, i want to see the rests of the earnings season. I think what will happen, best case, flat on earnings, because usually analysts sandbag 3 . Going in being down 5. 6 year over year. I think well come out flat. Im concerned about forward, because youve got two camps. People saying its going to be great. The next three quarters spectacular. Waiting to hear from the companies themselves to see what theyre saying. They now have big headwinds on currency again. If soft on numbers, this correction will, or this optimism will be short lived. Wow. I was expecting you to be more optimistic. Stephanie link, is kevin oleary right on the market . Yeah, i think so, to some degree, but i also think you can play some cyclicals. I have kind of a 75 cyc
Thank you for joining us on squawk alley. John is at merge in miami, flori florida, and we will get to him later, but at post 9, kelly evans. Good morning. And joining us from out west is jason calakanas who is an invester and we have a lot going on in the market, and dow and s p 500 nasdaq posting the intraday highs today, and the dow is holding e steady above 18,000, and russell 2,000, and the dow transports are out of correction territory, but start with the netflix today, jason, because the shares have been hit hard when the company gave weaker than expected subscriber guidance for the coming quarters and 2 million additions rather than the 3 million that the investors were expecting, and also, there was a offering of prime video stand alone which was talked about on the Conference Call from reed hastings, and we have that. So take a listen. Hulu is doing great work, and amazon, and hbo and showtime, and so many competitors, and everybody is working hard to build the best content.
Not by as much as the company had indicated it could have. Its the first hike since the service was introduced. A lot happening in the Retail Sector today. Data showing a slight increase in february sales. Results from Dollar General and jcpenney relaunching its home goods department. And some new information in the gm ignition switch recall. The automaker now telling affected owners not to weigh down their key rings with anything more than the car key and key fob. Well talk more about that. First up, though, amazon is raising the price of its prime Subscription Service to 99 up from 79. The first increase sense the service was introduced nine years ago. Prime offers free twoday shipping and access to thousands of streaming movies and tv shows. Amazon said those who sign up for prime in the next seven days can lock in the 79 rate. Nice to be grandfathered if you act quickly. The big question, though, is and you, david, know this company pretty well by now i do. How much do people exit
With this idea later in the hour. That is all coming up on markets now. Dagen doggie vacation. They just raised about 15 million in additional financing. That is a big chunk of change. Connell is that Better Business than buying stock in an athlete . Dagen guess, probably. Nicole is the New York Stock Exchange with the very latest. Nicole good morning. We are seeing the markets without the aeros. Less than 200 points away from the all time highs that we have been seeing. Yesterday we stopped the winning streak. It was our first down day in six. Look at that, we are back in the green again. We do have retailers and drugs looking good today. We got good Economic News from china. We continue to get earnings. We are watching forward closely. They talked about Global Growth going forward. Ford is up 1. 4 . Doing well with the ford focus. Back to you. Dagen thank you, nicole. Connell the big story in d. C. Today involves these contractors. They are facing some tough questions on capitol hill