48 was the intraday height that it hit. The closing high was 5,042 back in march. The apple watch watch continues with orders reported at over 1 million on day one. They sold out in a couple of hours online. I think it was 1 million watches. You said dollars. Did i say dollars . Its a mistake we make freely. What will be the real big seller for the bottom line . This would be the new mac book. Yes. Very thin starting at 1,300. Some think that this could be a major driver for apples profits. Thats what theyre really watching right now. 90 minutes from now, spacex is scheduled to launch a rocket from Cape Canaveral. They will attempt to reland the booster portion of the rocket the portion that normally explodes, goes away. Theyre going to try to land it on a ship in the atlantic ocean, so they can reuse it again. Elan musk wants to be reuse this to save money and so forth. Other thing is they have an italian astronaut, a woman on the International Space station thats gone all this time without her cappuccinomaker. You have an espressomaker on board. Shes been drinking instant coffee all this time. It is a step down for an italian. Its an italian cappuccinomaker theyre trying to get up to her. So much coming up here. Lets get to the markets and see how we stand right now. The dow, as michelle was saying were fading into the last hour of trade, down 61 points at the moment, back below 18,000. S p is down 6. Theres the nasdaq. We were love 18,000 in the dow. We were above 5,000 on the nasdaq. Were back below those two key levels as we go into the final hour of trade. Lets go to renee norris back with us today. Jeff killburg from Kkm Financial out in chicago, anthony chan from chase is with us here at the New York Stock Exchange so is steven wood from Russell Investments and so is kenny polkari. Kenny p. I want to start with you. The market is rean dering today. This is an important week isnt it . Its a big week as well as on the microfront and the macro front. Theres no reason to jump out in front of it. Youre not sure which way its going to go. The macro reports will get better. What are we going to hear from the stronger dollar the future guidance . Theres no reason for big Asset Management to jump in front of it. Quite honestly trading around this flat line feels like its the right thing for the market to be doing. Jeff do you agree . Of those two factors we were talking about, all the Economic Data we were going to watch to tell us whether or not this recent slowdown is for real or the earnings, which matters to you most and what do you think drives the markets more this week . Here in chicago, michelle earnings are the paramount focus, specifically the forward guidance. Theres more of a rear view snap pot. Goldman on thursday, those financials, the heart of the u. S. Economy, we want to hear what they have to think about forward guidance, potential damage of the u. S. Dollar spiking. This is so important going forward. Guidance guidance guidance right now. That is for sure. As you know, expectations are not very high for the First Quarter and last week two highprofile companies, alcoa and bed, bath beyond reported. Both of those stocks got clobbered as well because of girdance. You dont think in the aggregate it will be as bad as feared for the First Quarter. Why . I really dont. Theres the usual suspects. We have the Energy Sector thats been hit pretty bad. Weather is still playing a major roll in here. Auto units are up a million year over year. The Retail Sector has been pretty strong in some areas. Where well have an offset in one area i think the consumer will pick up in the other. That would necessarily be coming from gasoline i would think, right, rene . Absolutely. Some of that actually is still coming from wage growth. Weve been seeing that across all sectors as well. So theres a lot of different dynamics that are going there. This quarter is messy, its going to be uneven. I think the consumer will rise to the occasion. Your assessment of the market right here as we see this hesitancy against a big number like 5,000 in the nasdaq. I think trending list today. The action is coming out of europe right now. We see whats happening with the European Central bank negative yields in europe. Everyone is on dollar watch, earnings to oil, also the federal reserve. Why, stephen . We saw the german tenyear go negative today. Thats a crazy thing, historic. Why does that maer to the american markets . Well what were looking at is a pull into european liquidity. The European Central bank is trying to reproduce success that the american federal reservist had with their quantitative easing. Weaver seeing a Global Quantitative easing coming from the europeans, drive the euro down, goose up their economies. The japanese are doing it as well. What were seeing is the federal reserve, last person out of this. I think the fed is still on dollar watch. Theyll probably wait until september. My take is that theyre not data dependent until they get positive. Starting with the september meeting they start looking at the data. Speaking with anthony, we get inflation reports out this week as well. I know the fed will be watching that very carefully. What are your expectations there . I think we will start to see life on the inflation front. Energy will not be as much of a factor. We know the economy will get better after the cold weather. We saw that last year. The decline in the First Quarter will not be as great as it was last year in the First Quarter. Youll start to get that bounce back. Youll get a bounce back in retail sales. You might even get a nice bounce back in industrial production. As this starts to occur, i think a lot of the anxiety thats out there is going to go away. Remember, the dollar has been declining for quite some time. Companies are learning to maneuver. It will be fascinating to hear on the guidance how companies are dealing with the stronger dollar and how much are they benefiting from those Lower Energy Prices . Thats all going to come out in the guidance. Thats going to shape how the markets handle and digest this information. I want to ask you about something stephen wood brought up. The u. S. Federal bank will do what the u. S. Federal reserve did. Theyll do quantitative easing. That gave wine to the back of u. S. Stocks for years. They think the same thing will happen in europe. Are you telling your clients to put money in europe because of that . Absolutely. Or are you saying stay domestic . Absolutely. Actually, as far back as last year, we definitely have len the our playbook i think, to the european marketplace and japan for that matter. Europe i think offers fantastic valuations. If you are early to the party or late to the party, it doesnt really matter. I think that that run is going to take place for quite some time. Europe is very attractive and japan as well. How do you tell them to do it when they also if youre a dallasbased investor and youre buying something priced in euros, you could lose on the money side. Do you tell them to hedge it . An awful lot the hedged etfs out there. Ive also looked at the dollar chart and the dollar seems to have peaked out in march. We have a double top. Im looking athat closely. Its possible that thats going to turn into a resistance level in which case being an unhedged european investments, etfs makes a lot of sense. Its a lot cheaper. Kenny p. Exactly. You and i have had this very conversation for a while now about going to europe. You feel europe the action in asia as well what does that do to the u. S. Market then . Are we going to see more lackluster trading here . Will 18,000 be the place we hover for a while and 5,000 on the nasdaq . Listen i think that you know, by the end of the year our market returns back to normal again. Some move between 8 and 10 by the end of the year. We churn for a little bit. I do think, you said it, and rene has said it, there is tune in the europe. The ecb just started with their program. We know here in the states the fed had their qe program here for six years. Its up better than 200 plus percent. The ecb has just begun this process. Thats one of the main reasons people should be considering europe. Were going to end it there as long as we have it all figured out. We know where its going from here. Thank you all. Appreciate your thoughts on todays market action. Thank you. Lets send it over to dominic chu chu. Nokia is possibly in advanced talks to acquire part units of Alcatel Lucent, specifically some of the wireless assets. The potential acquisition of the assets would be to help strengthen the Telecom Equipment and Wireless Networks business with nokia to better compete with ericksonssonericsson. The original Alcatel Lucent deal remember that . Yes. To see that come around after all this time. Both are higher. Interesting. We have about 50 minutes left in the trading session here the dow off the lows down 40 points here. The s p is down 4 and look at your nasdaq. Heading back to 5,000. 4,999. Just half a point away. Coming up financial stocks gaining ground ahead of a huge wave of earnings this week. Dominic chu will have a special report on how they usually perform after their earnings hit the take. Sprint plans to do what doctors rarely do these days that would be making house calls. Were not making a joke here. Well tell you why the cell phone join the is borrowing a page from the old dr. Playbook. Plus the pros will discuss if this will actually help bring up profits and the stock. Still to come. 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Can we stay above 5,000 for only the second time this year bit close today . Keep an eye on that. By the way, here are the 30 components of the Dow Jones Industrial average. Looks like roughly twothirds of them are negative today. Jpmorgan, thats interesting, jpmorgan getting ready to report earnings this week and its the best performer today. General electric, by far, the best performer on friday with the Share Buy Back and the sale of the ge capital announcement. Giving it back today. Thats down almost 3 in todays trade. Doctors may not make house calls anymore but sprint is about to offer that service. Sprint is offering Home Delivery and setup of your smartphone. The ceo was on squawk alley earlier today. Heres some of what he had to say. Good to see you. Im all for thinking outside the box and inknow vacation and all that stuff. This feels like a pr stunt. Were falling for it. Its eye nice gimmick, good gimmick. Maybe if people get their phones brought to them. Maybe for older people it will be a nice thing to help train them on their phones. Thats wonderful. Long term i dont see this as meaningful for sprint or its brand. The stock is down over 50 over the last year. Its market cap is basically a tenth of verizon. Its got no great identity right now. And so i dont see this really changing the picture. However fun it might be. Bert im worried that a lot of people will like it. It sounds incredibly expensive to me to send somebody out house to house and do this. It has to be a much lower margin result. Youre completely correct. Sprint will stabilize its sales but also profitably increase sales. Because by making the house call and selling accessories, sales can go up 500 . Customer retention can double or triple. If we look at best buy as the proxy in this business case, the reason best buy is alive and circuit city is dead best buy had the geek squad making house calls. Sprint is borrowing a page from best buys playbook. It may work out. They will take over a third of the remaining 1,700 radio shack stores out there. A store within a store kind of a concept. What do you make of that . Its a smart move for sprint because verizon had far more locations across america and elsewhere than sprint does. With the radio shack, sprints essentially getting the stars at a nickel on the dollar achieving National Size and scale in all the key markets. Its a great tune to be relevant and meaningful with good service in the store. As michelle referenced as you did, bill, service at home on a 360 degree basis which may be unbeatable in this market where we have more disposable income and less disposal time. Can we go back to the idea though isnt it much more expensive to send somebody out house to house versus having them come to the store . You think there will be enough volume at the homes to offset the higher cost . Michelle youre absolutely right. Its certainly more expensive. But the cost of every cut of a customer from sprint is a few hundred dollars. The cost of a house call is less than 100. Typical transaction in the store would be less than 100. The transaction for a house call would be 300 to 500. In some cases, closer to several hundred dollars. What are they saying, people just arent going to the stores to get their phones . Why think about this kind of a service . That does seem to be the case. If we look at the tremendous astounding transfer of value from the cell phone years of ten years ago, apple and samsung in 2015 . They have to take numbers to get into the apple store. Sprint is saying we will drive out to you. Its a sign of weak i appreciate the creativity and the radio shack deal is interesting and creative there, too. But, again, what does sprint stand for . Can you give it to us in ten words, seven words . I dont know if marcelo talked about that. Its the brand of company where you wonder whats it about . Last question, quickly, dennis, whats your assessment of Marcelo Claure . I think hes done a nice job. The real power lies with the founder in japan. His idea to bring sprint and tmobile together. Marcelo is a good step but all eyes need to be on masa. Well see what happens with sprint and radio shack, too. Thank you, guys. Thank you. You bet. Heading toward the close. 40 minutes left in the trading session with the dow down 52 points, back below no its holding at 18,500 here. Its the nasdaq teasing us today. Back below 5,000. Will it close above 0,000. Uhoh. Make or break time for financials as they gear up to post earnings. Also head with all the fan fair surrounding the apple watch, could the new mac book end up being the new moneymaker for apple . Well continue on closing bell. Hey, girl. Is it crazy that your soccer trophy is talking to you right now . It kinda is. Its as crazy as you not rolling over your old 401k. Cue the horns. 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Dominic chu has been crunching the numbers on how stocks perform after the tape. I could say i crunched the numbers but im not that smart. Our friends crunched the numbers all the way going back to 2010 to see how well the bank stocks do on the day they report earnings. We went back to january 2010 to look at the average daily performance of some of the big banks reporting this week and how they do. First off, tomorrow jpmorgan and wells fargo. Jpmorgan on average not a great day. Down about a third of a percent. Its only positive trading wise the day after its Earnings Report comes out 38 of the time. If you look at wells fargo, its down 0. 6 positive just 38 of the time. If we fast forward to later on this week, bank of america, thats one of the bigger losers here. Its only positive less than onethird of the time. Goldman sachs and citi round out our week. Goldman sachs down 0. 2 on average. Positive 38 of the time. You can call it the real outperformer here is citigroup which trades flat. Its a coin toss positive about 52 of the time. They all report before the bell. The regular trading session generally speaking since the zero Interest Rate policy began after the financial crisis these banks have not been at least a positive trade generally speaking in that time since 2010 guys. Back over to you. As you were reeling each of those off, i checked them quickly. All but goldman is fractionally higher today going into these reports. Thanks appreciate it. Lets bring in jack moore and another guest from the street. Com. Thanks for having us. Discuss what were talking about here in terms of the fina