Watching the head of the closing bell. New details about the pilot that may have deliberately caused the deadly plane crash in the french alps. The germanwings pilot notified the owner that he battled depression. This is the first time lufthansa says they have been aware of his mental illness. Treasury secretary jack lew just returning from beijing, saying he had frank and constructive conversations with chinese leaders about reforming chinas economy. He also said here china to establish and maintain clear roles in cyberspace. He is speaking in San Francisco tomorrow. The incoming host of comedy centrals the daily show, is drawing criticism before even takes the job. Meeting trevor noah is being called antisomatic and sexist. He says behind every successful rap billionaire is a double as rich jewish man. Scarlet fu is looking at the action on the street. We are winding down the First Quarter. It went so fast. Scarlet it is so fast, but the trading has really slowed down on this final day of the First Quarter. Im looking at volumes, and for the Dow Jones Industrial average, for instance, 20 below the 10day average. For the s p 500, 15 below. For the nasdaq, 11 below the average. You get the idea there is a lack of participation, a lack of conviction on this final trading day, and all that is resulting in drops of about. 5 for the s p, the dow, and the nasdaq. If you look at the vicks, which tebow is the price of detection against which tablets the price of protection the s p 500, it is down 21 , its biggest quarterly decline in two years. Volatility has come down even as we have seen swings in the s p 500 and the dow over the last three months. Of course, were keeping a close eye on oil. Energy shares are among the worst performers in the quarter, giving the decline given the decline. Supply concerns, once again demand concerns, once again driving oil lower. According to chad morganlander who i just spoke with from steeple necklace, he takes oil can get to 35 a barrel. We need to wrap it up with the euro. It is extended its biggest quarterly slide versus the dollar since its inception as we await a resolution on greece talks. Alix we will check back with you later in the program. Turning to the top story negotiators will expand a selfimposed deadline for reaching a broad nuclear deal with iran. The medical respondent Indira Indira lakshmanan is in switzerland. We are accepting talks to go well past midnight. What are you hearing right now . Indira right, well of course, midnight is the deadline, the witching hour, so not for nothing, it is curious that we are pushing past that time. We just saw the French Foreign minister who said he expects the talks to go well into the night. The state department has made a statement on the record saying they have had enough progress and they expect to go into wednesday. So, what we hear from all sides is there are a few, stubborn meaning issues. They deal with enrichment, with irans research and development and also with the pace of sanctions relief. Until they can work out the details on those, the major sticking point, it is very hard for them to come up with a declaration that would have some bullet points. They are trying to pull out, of course, by sometime within the next day, is some sort of an agreement in principle with some bullet points that will give them three more months to work out the details. Alix important point. Printable details principles and details to come. Thank you. Sergio lavrov how the News Conference in moscow that stated i think once an agreement is reached, the sanctions should be halted. They should cease to function. He went on to say russia does not recognize unilateral sections from the u. S. And europe as legal. So, where will sanctions stand following the outcome of todays talks question mark joining me for more his reachers talks . Richard worked for the National Security staff from 2011 to 2013. He helped to orchestrate the current sanctions. We are so happy we found you. Thank you for joining us. Richard thank you for having me. Alix we get a framework deal what will it take to roll back the sanctions . Richard we need to outline the schedule. You first need to have that schedule worked out. That will take some time. Then you need the iranians to take some steps. I think we are several steps away months away, assuming we even get the final political agreement, until we will be in a position for sanchez to be suspended and then lifted. Alix has been agitating for a quick relief of the sanctions, so, in reality, how quick is quick . Richard from their perspective the day they start doing steps, that should be when sanctions are suspended and eventually lifted. Frankly, we are talking about three to six months after an agreement is consummated because the iranians have to take technical steps to build confidence to allow sections to take left. Alix what is the process in the u. S. . Richard lifting would require an active congress. Some can be taken care of by the president come but to lift sanctions requires congressional action. To suspend sanctions, the president has a lot of authority to waive and not enforce certain sanctions depend out what the statute says. Alix which, quite frank the he has been doing 50 grimmett was reached in november, 2013. Other sections remaining which, quite frankly, he has been doing since the deal was reached in november, 2013. What other sanctions are remaining . Richard accessing foreign reserves and you have to look at them in combination with oil sanctions. Even with oil prices reduced the oil sector is still an important one in iran. So long as they cannot sell oil, get the proceeds, their economy is in trouble. Alix what was it like to be at the table drawing up these sanctions against iran . What was the process . Richard it was a rigorously analytical process kid we examined for vulnerabilities, process. We examined for vulnerabilities and then what our partners will would be willing to do it. It was a complex analysis of what are the vulnerabilities and then, what will our partners be willing to do. Alix were getting headlines now that iranian talks have made enough progress to extend to wednesday. That is according to the u. S. What does that actually mean . Richard i think it means in the last 24 hours there have been these glimmers that the iranians would be willing to say things in public they were not previously prepared to say. For instance, that enrichment will be capped at a certain number of centrifuges or Nuclear Material will be dealt with in a certain way. There has been enough indication that the estate feels comfortable in saying we will stay that the United States feels comfortable in saying we are comfortable. Alix is what we are hearing the reality, or is what is going on behind closed doors different from the rhetoric each side has to take home with them to get something done . Richard there certainly is a portion of this which is rhetoric. The iranians have to come home and say we fought a really good fight, we were able to get strong sanctions. The administration has to say the same thing on the nuclear program. The simple reality is the deal will die in tehran or washington if it is not good enough despite the rhetoric. Alix they want totally Different Things at the end of the day. Richard that is right. The reality is this was always going to be very hard, if not impossible to do. The iranians want sanctions relief on the cheap, the nuclear side. It ministration would prefer the opposite. Ultimately, this is always going to be about finding the inch of overlap the between the positions. Alix the inch and from the man who was part of giving those inches from the sanchez. Thank you, richard nephew, inches from the sanctions. Thank you, richard nephew. Former ruler buhari has won the nigerian elections in the first transfer of power since 1999. Paul wallace joins us from lagos. It took weeks to get the selection done. Is this cause for celebration question mark is this done, question celebration . Is this done . Paul in the states, his supporters are already going onto the streets, and celebrating the victory. So far, the reaction from the opposition, the strongholds of president Goodluck Jonathan seems pretty muted. That suggests, so far, that they there might not be the widespread violence that some people feared if the president lost. It is quite a thing that he is actually conceded defeat. Even this morning, what else talking to some people and investors who follow nigeria closely, they said they could not imagine the president calling up the Opposition Leader and congratulating him on a win, which is now what has happened. Alix unbelievable story and a big change in events from the past few weeks. Paul wallace, thank you. Coming up, greeces negotiating team has home. What is next question changes could be coming to indiana next . Changes to be coming to indianas religious freedom law. No deal for greece the countrys negotiating team heads home. Tomorrow, the euro area will schedule a call on greeces reform plan. What is the next step . We are joined by Lisa Abramowitz and tom. We are getting into a heated debate. What happens tomorrow on the phone call . Tom at the end of the day to the conversation we were having offline, which i think is critical at the end of the day, you have to keep in mind that what is happening in europe in particular you see stabilization at this point. Again, as i was saying, stabilizing at a low level, but at the end of the day, when i think about the contagion coming out of europe the eurozone is insulated for a host of reasons and as a result of that and an ecb that is showing active engagement that to me indicates some of the risk. Things can deteriorate, and europe has been a basket case for quite a while, but i think intentions are good. Alix you are bringing up the peripheral bonds, spain, for jewel, italy, and the conundrum you see in the markets portugal, italy, and the conundrum you see in the markets. Lisa what im trying to rectify is spain could follow in greeces footsteps. The spreads do not show this. Yields have fallen. That means that prices have risen. That means they are perceived as more creditworthy, right . How do you reconcile this with the growing chances of a greek exit right now . I do not get it. Tom look, im a u. S. Economist sierra getting a u. S. Perspective, it so you are getting a u. S. Perspective, but the European Team has been steadfast. They do not expect greece will exit. If you like greece go, you have to have a conversation of who else you like go, and that is when the speculators could step in and start to damage a country. That is an important point. I do not think it is a foregone conclusion. I was in europe last week. It does not seem like anyone is binding to the notion they will exit. Alix credit default swaps tell us something different. Lisa a 75 chance that greece will not make good on obligations . Tom but what are they telling you about the funds if you look at where the market prices fed funds, they are almost always wrong with all due respect to the market lisa the market is really offended right now. Alix we cannot talk about the market and avoid the currency and talking about the euro, the worst quarter ever, is that due to dollar strength, mario draghi qe, or another factor . Tom at the end of the day, what you have to consider is it is all a relative value play. We would argue the u. S. Is in materially better shape than europe and any european country cap from that perspective, if i was making the call country. From that perspective, if i was making the call, i would say we should have been a parity already, and probably beyond that at this point. Lisa from people i talk to, it is not just greece exiting the eurozone, but the Collateral Damage that happens as this goes on, as the negotiations go on. It is hurting greece. Greek banks are in a rough spot. Deposits are the lowest level in 12 years after his capital outflow. Tom heres what i would say these are not new stories. This has been going on europe has been fundamentally unsound and im being polite, for quite a while. Spain is still struggling with significant unemployment. Either ongoing issues. It is not something that is just coming to a head now. I would argue this has been in place for quite a while. Alix we have to leave it there. Lots more to discuss. We are watching the bond market. Tom, youre sticking with me. Lisa, well check back with you later in the show. Just ahead, we will look at the ecbs influence on investors this quarter, and what that might tell you and us about the rest of the year. Later in the program, the major media mergers moving stocks today. That is a tongue twister for you. Street smart will be right back. Alix this week investors are analyzing a school of Economic Data for clues on the rate increase. Jeffrey lacher said the main Interest Rate should be raised in june, pointing to the jobs market, and spending growth heading back to the fed target. Confidence is rising to the second highest level since august, 27. Home prices rising at a faster pace in 20 major u. S. Cities to cities, but manufacturing chicago tracking. We are joined by rcb economist Tom Moore Sally tom. We see this divergence. What you see continuing . Tom what we would say is a lot of what we went through over the last couple of months, we think some of the weakness is easily explained. The weather, the port strikes look, i get it, and i can see people rolling their eyes as they listen to us. Alix it is not just the port strikes, the weather. Tom in part. This is not us guessing. You know from the responding comments from the isn report from the beige book, where they highlighted not just the port strike, but the weather is having some impact on consumption. Here is what i would say when you are trying to square the circle. Does it pass the sniff test, and in that regard, here is what i would say we have added 1. 5 million jobs over the last four months, an outstanding run rate. Wages are actually slightly on the rise if you look at the high, which hopefully will get into over the course of the conversation. So, you have consumer fundamentals that look really sound. The Consumer Confidence report is a great example. If you look at the confidence level for those people making north of 50,000, a group that is responsible for two thirds of all the spending, that is at a cycle high. Income expectations continue be to be at a cycle high. Given all of those fundamentals, you have some sort of underlying, weird, pernicious evil spirit that we are all unaware of driving down consumption or that there is some other factor weighing on consumption in the face of all of the sound fundamentals . We would argue that the latter makes a lot more sense that it is a transitory development that has gone on. By the way, the proof will be in the pudding, because in a week, or two weeks well get retail sales. If the retail sales report does not bounce, which we expect it will in a march report, you can expect to have a real conversation about what else is going on. Given the fundamentals, it seems reasonable you will consumption that will continue to run at around eight 2. 5 pace. Alix is 2. 5 good enough, because Goldman Sachs brought up a note that the jobs growth would have to slow to catch up with the recent data. We will have to see declining jobs to catch up. What you think . Tom i did not read the note. I cannot comment on it specifically. Alix i can tell you exactly what it says implement gains have been running too hot recently, wrote to do Economic Growth and under our baseline forecast this year and next we expect a gradual deceleration to a roughly 200,000 a month rate. Tom i do not disagree with that. Will get a new report friday. We are expecting a 220,000 outcome. I do not disagree with the general premise. Alix youre just saying that it is not going to last for a while. Tom that what will not last . Alix that the deceleration the job market will not be sustainable. Tom sustainable at what level this run rate of about 5 on nominal wages, that is enough to grow wages excuse me consumption, at a 2. 5 rate. That is what we expect. Again, without context, it is hard to comment on that specifically. What i would say is if you think about the second half of 2015, 2014, that was an unsustainable run rate, north of 4 . We will downshift we would argue is a more sustainable 2. 5 pace. Alix tom, to our for joining. Tom porcelli chief economist at rcb capital. Around here, were all about fast. Thats why xfinity is perfect for me. With millions of wifi hotspots all over the place including one right here at the shop now we can stream all things fast and furious. Youve done it again, carlos with the fastest inhome wifi and millions of hotspots xfinity is perfect for people who love fast. Dont miss furious 7 in theaters april 3rd. Alix here are the top stories were watching ahead of the closing bell u. S. And iranian talks are being extended till tomorrow. World powers are trying to resolve a standoff over tehrans nuclear program. They may have until june 32 draft a detailed technical agreement. And an update on a story we are following the incoming host of comedy centrals the daily show is being called antisemitic and sexist. Comedy central being defending trevor noah, who is known to push boundaries and spare no one. Lawyers for boston bombing suspect mr. Tsarnaev resting their case after presenting a brief defense and a showing his older brother was the mastermind of the 2013 terror attack. The defense making it clear from the beginning of the trial that the strategy is not to win an acquittal but to save tsarnaev from the death penalty. Just under 30 minutes until the close of trading for the First Quarter. Lets go back to the breaking news. Scarlett i want to mention two names tobacco companies. There were several reports that regulators met this weekend are voting on mergers today. No confirmation of that, but recall that reynolds announced it was buying lorillard. Some concern the deal would not be approved has been dragging on shares. We saw that reynolds briefly a race losses briefly erased losses. Lets move on to Charter Communications. Buying the number six u. S. Cable company. The stock is trading at an alltime high up by more than 6 . The transaction will cost more than 10. 4 billion in shares with a 2 billion cash component as well. The important back story is