Bank is in no rush to raise interest rates. And that powered a stock market rally around the globe continuing today. And resulted in the dow industrials gaining 83 points to 17716. The nasdaq added 22 and the s p 500 rose nearly 9. The president of the chicago fed agrees with the fed chair. In an interview today, Charles Evans said a rate hike in april would be surprising. I think chair yellen laid out all the right issues, you know, coming out of december going into the march fomc, risk factors increased a bit, financial volatility, things settled down a bit. I think global risk is higher. The median is for two hikes this year. If the data come in the way were expecting. If they come in stronger, everybody would adjust upwards. Evans added the potentially moving in june that decision would be made on the basis of further improvement in the labor market but emphasized he didnt want to get ahead of himself. And there was more evidence today the job market is strengthening. Private companies in the United States added 200,000 jobs in march. This according to the payroll processer, adp. The construction, retail and shipping industries all had solid gains but manufacturing employment barely budged. So while the labor market is humming along the same cannot be said for corporate profits. Overall, earnings for companies in the s p 500 are forecast to fall. Continuing a trend of the past few quarters. Dominic chu tells us just how ugly it might get. Reporter in just a couple of weeks, a lot of focus for traders and investors will turn back toward companyspecific stories. Specifically because in a couple of weeks, we start large cap earnings season yet again. And this time the estimates, theyre not very good at least to start. Heres what were talking about. If you take a look at s p 500 companies, the analysts at Thompson Reuters compile the estimates and right now showing what could be a forecasted 7 decline in s p 500 profits over the same time last year. And its not just bottom line profits. Its also whats happening with sales as well. Theyre forecasted to fall by about 1 . It could be the third consecutive drop in quarter by profits and the fifth consecutive quarterly drop in terms of sale if it comes to fruition. Now, its going to be a big deal to talk about energy. It has been for quite some time. If you strip out the negative effects of falling oil prices, you get a different story. Significantly better one but still bad. Earnings would drop by 2 if you stripped out energy and revenues would rise by about 2 . So why is energy such a big focus this time around . It always has been for earnings season ever since oil prices have fallen but take a look at how bad its going to get. The only positive stories we can really talk about right now are in Consumer Discretionary up about 14 in terms of profit. Telecommunications stocks up by about 5. 5 . Heres where it gets a little tough. Material stocks are forecasted to drop by 19 in terms of profits. Energy stocks by a shocking 99 . So thats the reason why energy will be a big focus and some of those earnings estimates for s p 500 companies are not quite as robust as some would like. For nightly business report, im dominic chu. So what could a weak earnings season mean for the market . David is senior equity strategist at ubs Wealth Management research. He joins us now to discuss that. David, welcome, good to have you with us. The market has had a tremendous month of march since february 11th, its up double digits, done very, very nicely. Is the market looking past what everybody seems to say is going to be one of the worst earnings quarters that we will have seen in many, many years . Whats going on . Yeah, tyler. I think you frhave to take thin in context. When we started the year, there was a lot of concern about a slowdown in china, becoming a hard landing. There were concerns about the u. S. Economy, itself, whether it would continue to grow or not. And now weve seen some signs of stabilization in the chinese economy, seen some signs of stabilization in the u. S. Manufacturing sector as well. And i think thats whats powered the rebound on top of the fact that the fed has been a little bit more accommodative. So now we can get back to i think where we were at the end of last year and the earnings picture still is a bit sluggish but i think your previous segment nailed it on the head. A lot is energy. Some is the strong dollar. Those head winds begin to go away as we go into the second half of this year and 2017. They shouldnt really affect us at all. I think the market is going to be somewhat range bound but looks brighter as you look furt eer out in time. Does the green light further action in the market to the upside, david . I do think over time. I do think, though, we need to see some we have to get some confidence that the weakness in the manufacturing and the industrial and Energy Sectors is not spreading more broadly. It has spread a little bit. Financials are seeing the impact from higher loan costs in the energy loans. But Consumer Discretionary looks good. Health care looks decent. Tech is still good. So as long as those sectors continue to do well, we should see higher prices and i think ultimately we will, but i still think were going to be in a bit of a volatile period. We didnt talk about politics but certainly the political season could have an impact as well. Oh, that. But david, let me come back to what i think i hear you saying an that is that, yeah, the rest of the year is likely to be better in terms of earnings than this First Quarter is likely to turn out to be, but the market may be vulnerable in the short term to some volatility because its gone up quite a bit. The fed has been a tailwind there, but now the rubber meets the road with profits. Am i hearing you correctly . I think thats right, tyler. Yes. Weve had a very strong rebound. I wouldnt be surprised to see a more of a rangebound market in the near term. And, again, we still need to get more confidence that or i think investors more broadly need to get more confident that we will see an earnings recovery in the second half of this year and i think thats whats going to be kind of in the backdrop of peoples minds. You know, if you want to spin it positively, this could be the worst quarter for earnings of this of the last several then its going to get better going forward. I think its going to take some time, though, for investors to get comfortable that we have seen the worst. All right, david. Thank you very much. David with ubs Wealth Management research. Metlife is not too big to fail. So ruled a federal judge. The decision means the company should not be subjected to stricter regulations that emerge following the financial crisis. The reason for the judges ruling remains sealed and the government may still appeal. Metlife shareholders were happy sending shares higher along with the other Insurance Companies that have been labeled systemically important. Patients who obtained health care through the exchanges under the Affordable Care act, well, theyre in need of more medical care than those who already had insurance. According to a new study by bluecross blueshield, that increases cost for insurers. The study based on claims of more than 4. 5 Million People and the finding may help explain why higher premiums have been sought by insurers in many states and some say it also raises concerns about insurers potentially leaving the exchange. Dan mendelson joins us more to talk about more the rising cost of Health Coverage will ultimately mean for the insurers and of course the futures for the exchanges. Ceo and founder of avalair health, a Health Care Consulting firm. Welcome, dan. Nice to have you here. Were you surprised by the results of the study no. And the fact those who were surveyed their health was worse than we originally thought . No, i wasnt surprised. We essentially reproduced very similar results and whats happening here is that those people who really need the insurance the most are the ones who are most likely to sign up for it and as a result the market is essentially creating a risk pool that is somewhat adverse for the insurers who are participating in it. I think it is really important, though, to keep it in context and the fact that there are 10 Million People who have insurance, theyre generally lowincome individuals and individual who really need the care and i dont think this market is going away any time soon. Often, my guess is people who got into the Health Insurance marketplace who hadnt had it before maybe because they had preexisting conditions and couldnt get Health Care Coverage or because they just didnt want to pay for it, it wasnt as available to them as it is under the Affordable Care act, now theyre catching up on treatment that maybe they postponed. Would you expect to see the demand for these Health Care Services even out over time as these new comers then get integrated into the Health Care System and maybe their health turns a little bit better as they get the care they now can afford to pay for . There definitely has been some catchup and see that in the data, but i think really whats going on here is that the solutions are really around getting a Broader Group of people enrolled in this program. So you have about 10 Million People in this program but re really the projections we and others made initially is about 20 million should be in this program right now so really the solutions are around broader enrollme enrollment making sure that the Healthy People in addition to those who currently are bearing the burden of illness are enr l in the program. Dan, do you expect as the study indicated might happen that wed see the major insurers decide to exit until we see that evening out or do you think that wont happen . Look, its possible that youll see one or another insurers exit from this program. Health care is a very locally marketspecific enterprise and thats always been true. However, its really important to remember that this is very strategically important. This is a very strategically Important Program for the insurers who are participating in it. There always will be a market for individual insurance in this country, and the larger insurers in particular will need to participate in this market. So i think that in the long run, it will be healthy. All right. Dan, thank you for joining us. My pleasure. We appreciate it. Dan mendelson. Still ahead, who dreams, why this weekends College Basketball championship game puts time warner to the test. A jury today found General Motors ignition switch was defective but it was not the cause of a 2014 accident. No damages were awarded to the two people who were injured. Lawyers for the automaker argued that the accident was caused by ice on a bridge. The verdict was the first involving gms ignition switch and there are more than 200 pending cases that allege injury or death was caused by gm vehicle defects. Detroit, of course home to jm General Motors and other automakers. While sales are now near records, that wasnt the case a few years ago. The business, of course, being bail out, housing had collapsed in the city and many who lived in detroit up and left. The long road back for the motor town and as kate rogers reports, Small Business played a key role. Reporter after emerging from the largest municipal bankruptcy in history, detroit is undergoing a revitalization driven by Small Businesses that believe in the citys future. April anderson launched her bakery, good cakes and bakes, in 2013, serving up organic products made from locally sourced ingredients. Her goal is to see underserved areas of the Community Come back from the brink. People are starting to realize you need to move up to the neighborhoods because the neighborhoods is what keeps the business going. Reporter aprils in good company. Data from the Kaufman Foundation show there are about 1,000 Small Businesses for every 100,000 residents in the Detroit Metro and while a dwindling population had an an issue, that exodus slowed in recent years. Another Small Business making its way in started in 2010 by eric yelzma, former chemical salesman who lost his job in twhoo2009. He loved jeans and decided to turn his hobby into a business. I could not have done it anywhere else. Could not have done it in chicago, new york, any other city. I wouldnt have, i think, the ability to go find a place and start making something. Reporte today they employ seven people and are on track to open up a new retail store in a few wheekeeks. The most rewarding part, employing locals and teaching them new skills, something they say was badly needed after the Auto Industry collapse. Making things is weve done that in detroit for hundreds of years. Its really, really rewarding to kind of revive some of those old skill sets and be able to employ people. Thats a real, real gift. Reporter both good cakes and bakes, and Detroit Denim Company worked with several incentive and Grant Programs in the city including tech town, a nonprofit incubator and accelerator that men tours entrepreneurs. Theyve helped 1,600 companies in the last 12 years raising 20 million and the metro has seen 227 private sector jobs added from 2009 through the end of 2015 according to the detroit regional chamber. Anderson is now employing four parttimers at her bakery. Shes had big successes even baking for oprah but takes the most pride in serving her community. Its more validating when the Community Supports me because oprah comes in town, she leaves, people come in town, they leave. To have the community by you, its way more important to me than that. Reporter a community of detroiters thats been through so much ready to forge ahead. For nightly business report, in detroit, im kate rogers. To read more about Small Businesses in detroit, head to our website, nbr. Com. Boeing plans to cut thousands of jobs and that is where we begin tonights market focus. The company will eliminate more than 4,000 jobs in its commercial airlines unit by june in an effort to reduce costs to stay ahead of competition from european rival, airbus. Boeing expects most of those cuts to come from attrition and voluntary layoff. Shares dropped nearly 2 to 128. 58. Lower fuel costs and an in bookings helped lift profit at carnival with results topping expectations. Revenue also came in above analysts estimates. The cruise line also increased its earnings outlook for the year but still expects sales to miss targets. Shares of carnival rose more than 5 . The Athletic Apparel maker lululemon athletica, strong sales during the holiday. The company laid out an ambitious goal saying it expects to double sales to 4 billion by 2020. Shares spiked more than 10 today to 6780. The food and Drug Administration rejected the applic a new Kidney Cancer drug from the pharmaceutical company, op kprrks o health. The fda cited issues unrelated to the drug with opcos thirdparty manufacturer. Opcos ceo said the company will work with the fda and manufacturer to resolve the matter. Shares plunged more 10. 5 on the news to 9. 9 0. Big money is being thrown at the big dance. Advertisers are going all in on march madness. Spending which is at record levels. But as the Cable Television industry changes, theres one company in particular that has a lot at stake. Julia boorstin has that story. Reporter march madness has turned into advertising madness. The annual Ncaa Division 1 mens Basketball Championship sold a record 1. 2 billion of advertising last year for cbs and turners networks and this year its on track to grow by at least 5 . As advertisers turn to live events viewers want to watch in realtime along with ads. Live sports programming has been steadily increasing, ad rates across march madness, across other professional sports, College Sports as well. Audience ratings have shrunk for other types of programming, audience ratings for sports programming have held up fairly well and adds to the attractiveness of the investment for advertisers. You guys ready for our march madness road trip . Reporter broadcasting the tournament has been increasely profitable for time warmer and cbs because advertising has been growing faster than the cost of tv rights. This years tournament is particularly important for time warner. Its stock dropped on concerns of the future of the tv bundle. This is the first time a championship will be shown on a cable network. Mondays game is airing on tbs. Time warner has been doubling down on sports. More than a third of turners 4 billion in programming costs this year will go toward sports rights. Paying 7. 3 billion to the ncaa over the next nine years. For turner, its a continueuation of their increasing involvement and increasing participation in the sports marketplace. Theyve had an nba contract for an nba presence for a number of years. Now the question is how sports will help time warner hold on to subscribers and battle the cordcutting trend. Tbs and tnt each lost more than 2 million subscribers last year according to nielsen. For nightly business report, im Julia Bo