>> welcome to"lunch money" where we tie where we togethergesiness nenews and video.nd vid . adam johnson. johnson.n.butn.tickbat the menu.at the menu.in mors, tough roadugh for for new for new for companieses kellog nation come of thn . ems matterg moems matterg tteralize.er e.w leaders mallllniesnieskinieskinieski esit is part of our new series. eries.in eats, hoocolatglaze and aze anfrenche anfrene fr crawlers meet wacrawlers meet leget s. le let's kick it t'with whatt t'ha everybody is talkinrybodyt.something

isfootmethinethineth eterspherth tersphertherth >> the stock open down more than 20ter a oc20port that ft investors stuft invft inv that is for sure.ise. twitter' first earning reporst earnrst earndisappoit eag analystsoit eag ang an ing s. ing g g it is important to is ember -- tis about a stock, not a stock t a company. 41% was slow going into thowng call.as i sd earlier to s searl s sellers are probsellers aringargarthey' keeping the stockhe stock from falling further.alling further. tare potentially thankite the short sellers right now. >> o at is the stock. what about the comat about the comhe >>he user gr >> numbers were not that strong. in fact, all of the user ennt numbers camnt numndrs cam of week. just the user owth alone atlo less than lone is just weak.ju 5.9% growth.

think about all of theabout alyt aly they got in the u.s. alone. you have wth at less wt% on t r base. r base.r base.r think that is disconk that is di i i for a busine that is so much smaller than other companieser cnies nike facebook.nike fnike fnike fke f >> stiny twitter is trying toer i livethe big shadow othe g shadow oshadow faokshadow fashadow faad the comparin therobablybl inev since they overlap inp inp inp in the social media universe, but -- -- is notny in my n that really deserves the comparisons that are so freqly made toeqompaniesade eq like faceboo ligoogle. it is a re tively small business but not a massive global powerhouse. >> twitter ceo dick cottolo is well at, but he put a, bu positive s the earnings t call -- call call >> >>ons >>ons ons o flock o floc every month xperience moments in their lives and in moments in their world. world. world. we believe cha bes we are we aree are maill create a mill createeate tisfyi experience for userss in the first few days, weeks and then months and years onyears onye and ultimate lead to lea

higher engagement and userem growth over time.me i ta frequently about twitter being this global townthisare, and when y and whng throughhrough the town s are ane obse s arane obse s ar s armethg, you often want to often want often w per to per to you about the thinu abu are bothu are bothth observing, o that notion of privatmessaging that we rward, and see an increase in 25% and ease iarter, usservice usancing te usus -forth beten the blic and priblonversatio >> the words o>> tter ceo dick costolo are costgh. ot companis heating up thank a littlhank a we are tal we a disne "fro is of disney'sofsofss biggest pictures.es.es.es.. does t e could seeuld see see see in our future?

do not want to ruleant anything out about the future oout th "frozen."roze we bly ween mory ween mory sp than we tically are his e are very e are very out it and theous eat ea when we talk about franchises, t something t s successful across businesses across territories, ss ter longggg period of time, and i think thisthis checks all of checboxes.b b b b b he does nthe does nthe dntntnt movie. >>lso impot to po impot to n fantastic success was also affected greatly by businesssi sus ve sune os ve ve operating units operuccess aitcess every one of our operating ito we hadito digit improvement at every one of ourvery one o ry o re ry o re

>> disney parks, games, anpark gamam ducts poducts ree as w re pe as w usiness.iness.iness. e'veeee' huge crse in mobile.n mobi tremendous increasemenncreas it here the gamesheam hema we have sh d ou have sh d ave sh d av drly.ly.. >> did you pk up hidk hidk k ment obile? o >> i love mobile>>ecauove f yoleecauove f leove lee lelelelele think abou if you wanted tod totch tv before, you had to d lly ata waatr shelf or cabinet of some sort in the home. yo not watch tvh tvh tvsewhere. yonow have the ability to dohe abilio doheo doo doo doo do thathat isthnly going tothnly go thnly gothnly gothnly go bility to cebity to ceo cece products grows, then your copt is gcoois gco increase. is a great thing forgr creaa creag forfor distrto

distr >> the third media compahird med competing with disney ing with dinthin twitteinr those mobile usersbi -- aol.revestimates of adimates of adimates oleadimes oleadadading growth comes dg growth dg grcontent. d ntenwhat is out thenwhat i aout then out thent does not yet have? yet hav>> our strategavoveral strat aseral strat aser strat as a refresher o be the leading media technologymeoma te in thethe world, and within that, we are focused on three big areas. wellrvice, the secd is thehe secd d d co , cothe third , a that sc just tout oss rl inhe content brandtent bucket, we have focused on long-term hu on long needs. ifou think about thenk a nkffington pffingtdy needs news . . if you think about tou trunch,boru nology ablylogy lylololo biggest cu ural trees inural the th on thwoth nd we thwomen are underserved on the internet. you involved this

but the makers project, and we have ference in l.a.rein i am b iever in brands i nds iuld love to have more conto t br and more platforms toore plore serve content brands, not justds on own but onss theonss the internet. >> aol made some gains because of deep cuts at its eep l network of nehborhood of nesor neslled p ne nem need about need abo it wh ed ay liu.h ed ay >> it is $150 billion space. we halmost 20 hion hionio consers in that spacers in theers in the product, how to get structured.ru we are to hang w tnd we are big owners of theig ownof the prerty, and we're going to work for a closewo with them. w y also one of thene oth things we have een able to do both with hail and the rest ofour

content properties aent just purchas juvity, alasofvityvityesvityin gvity g >> what going to do thatg to aol could not do? >> h >> hsed pecte pr pect pect whic struggic struggic have greaors e gr'res e e ing a lot ofing a lot oft of the focus on the technology forologolog hail is going to bring tong the table, i think theb're goingb'ngb'to bringblteto by tobltebl reure reure reure >> just a >> jusonds, canonds, you bout a tie up with a tie up yahoo!? >> we are already tied up withp wi yahoo!hoo! we he hee a whole of partnershi them ross the ads an the the the rhaphe he >> that is above my pay gradeove my we are focused on turning aol around had an ol had an ad an ad an performance in q4, so mance ino mance in wh i am focusewh i aht now. now. >> aboveay grabovebo he is the ceo.the ce i guess we will i guess we wil watch th. we are going to get the ceo's

reaction after he company gives a grim outlo for sony. and a rough time on the high seas. a sph cargo ship slammed into a j off the southwes coast of france. a scue team rescue the 12-man crew. the sh in two. io. no ne w n bono ne that he st of it in th n thraw. ♪

>> thi lunch money," on bloomberg television, and we are streaming live on bloombg licom,com, your tablet, and your phone.phon general motors ceo mary barraa has ar wo has a fr wo has a fr wo has s her. he lower-than-expected earnings in ings nfo inuarter.fo .focarmaker saw across the board declines interd deonales intd deon excentd china. kind o ous.s.s. ican profi icto icto offs e of that weakness.hat we meile, dai meelivers.meelivermeerer that i ano a popular newpu mercedpu it has also revamped s class. ceeter z ces we c expect even more fpect eepectct automaker in the year ahead. >> we will have basically everyba

quarter a ne product and we are very the momentum we havehave be ow will furtherill furt increase. creasewe are about to launch the new c class. the delivery starts right now. so far the media has reactedextremely posive that this new that car in that segment, which liftsifts the level in the segmentin tment tment t we have se antastic for the s class. ass.l see the coupe in that segment as well. our comp suv is the nextep. we are rea we ag on all cylinders. >> the dai ceo alsoeo also also adsing to urng tong voty in emergi markets.ts. >>olatil >> polat>>olatolat today' s world, sy' ave got to live with that, the focus points are changing around the globe. right now we are seeing negative impact from capitapacttflow ofpi f these markets.the mas. ct lik everywhe ev evevev th product,

which is sduct sct ac hat the acmand is relconstanttante markete market impacted by the econcty altogeth altogegaining altogega ma . so of course we cannot bennot be totally im ne against tho ne again tho tho fluences, bu we have esstronge es position.. we do believe that chibeliill continue on their significant growth gr we think that braz t will hat its ugh the currenth the cu cu cu cu e, otherts, whichts, whic , wh in , e din , e din , e , e , e situation but situess relevantsitu for busi ss. ecting this year including these troubles, anesan an overall growth of the magrowth o 4% or 5% on a global basis. is a good environment to gw ev to

gw evt. to g >>ndto g >>ndto g >> >> >> >> carm, pe t, cg outt, c with a new modelwio serverv customers secusteapercueapecueape.eape.ea the citroen us wcil beunveiled in unveiled i co ooking at ot ot eas ound the orldound torldouldou ldou anzeldou an he actual zonehe ae ual zozogoing to be goin their, thgoin their mapanies outside opanies onies europe, over the industrial basendusse is limit is limit >> es on sale sta esgn sa in june. all ri reakfal ri re sales are feeling a little leling eling elin a cnch what we have thewhat ses for thsed in you, thseou, thou, , r,or doughnuts.ughn forget about bulky camera gearulky c apple showing off the reowltg ofreowltre a shoot d ast year using ing honeing neg neg ne

vican vican can can e'caube c'nel.caube about a month after that show, 's ange' ahrendtan'an'joinedan'seinedanseined re nline es. imagine that.imaginimagin ♪

>> this is "lunch money is n bloomberg television, and we are streaming stbloomberg.co styour table andyourr

phone.ndyondyo adam jon. an. a are going to take an in-depth look at sony. is up today in spitetoday inte of some very disof somtingomting omrnings. >> before as a surprise loss of $1.1illion. surpriofsurp1 nrp1 rpfothe fur vethe funvethe fu earlier profit forecast waofit forecast waofitt wa oppositet wan with a weak yen, so you really so you rratch your head.d. the company is cutticompany is cti on t of the 10,000 jobs and,000 j had already cut, so threceo is not really getting the job done.he job don'ct ceo kazai ceo kaz c k to bow out anytime soon.oon. >> und electronics, ennment, andnmalnmal nm operat s my importants my importas my ioror miion. i do not have any intent havto step d st >> turnaund -->> turis why thehehe stock is up.is up. we will get more froilthe bloomberg cont blting editor and author of the "facebook effe id keffeatrick id keffeatrick idatrick idck ididididid

>> it wa >>ntt wa business really.businebusinene if sony is going to thrive, theyth have t ve in instantineve in rding twitter and facebook ho r good playstion iod pystion that he cr thatbue crin thatbue cr bue multibillion-dollar frillione,frillione, he really have t really connection to the internet tbutbutbutnot git himhe kind ofim kind ofim ind ofim he really nee h nee >> an analyst pointed out that the profit of sony is higher than the group operating profit. 't even know't thet th insurance be use surancvery domestically ocused.ic when you f en youu f enouu f ouuthink consumeruthctronics. where value in e company's consumer electronicslect ni business? the t is that t ish zero. >> the value has to be fouue has innovation we have not seen yet. i am afraid you do not feel au do not f f in it rig i tv's are a co's a co'''' 4-d ng to

4-d l but hoo 4-bu4-buny4-ple are going tople are gople are go ligoy' lioing to rush outoing t and buy that, and how quickly will the will thenyway?llnyway?llllll sbowing d sloeb's' push to cut 5000 jobs. that move should save about 230 million dollars, wllio iss, nece necefilm unit necefit pot los and the box office flop of hite house down," but it is" not all bad. noall bad.all bad.all all company is betting on a sequel to the "amazing iderman. man. anotcompan feeling thefeelthefeel pinch -- credi pincse.pincse.pincpinc legal co are wai on the n they's earngsy' i' n to a weakto a performance at the invesnce at t at tsults were tsults re ts re ts re t 72 million72 milgaonon r the mortthe the litigation there is a tax therea tax xdispute xdire in the u.di the ceo, brady dougan, disrady dou where the company stands rightds r now.

we have made goodha progress on that front. we have gotten a number ofen a number of issuesved.suesved. we do ne of the la ne of of issues, fha issue, b fhdosue, b b for like we obviously have tobviousl significant reserves over thervrv course of the last couple oflast cou years and we have made goowe progress in working througn them, an think our ourofile ins arofilss arofilss s obviously a lot oballeslthan a slth nu other banks. it isto i.is it is difficult to is difficulul the end, b the enk we'r' making good progmakingn wod progmakingn through. >> all right, here is something n snack on -- kellsnac- ke r profits.prpr as f the cereal business, sales declined about 3%, and at us to ou.musop , the best ng kellogg kelloggel 13... ♪ >> way >y the tiger,

kel' kellunded at thed at ataste atastepany.atny. year was 6.year was arararararthe nd of enchantment haf enchtment become the island of debt. d puerto rico geto gege graded tnkgr t we will tell you..

us will seus will se will sel company is not letmpany stand in its way, andits if that is not hig that is foris f you, watchhis gopr watchhiofatchhiofatat feligartner brng trtbr free fall world record inr 2012..... a freefaa freefa 24 miles bove the earth've the eve surfe.ve

> thiss "lunch moniss bloomberg tele bloo. i am adam johnson am am today's today's y'y' where y'deo is the storydeo is the storydeo is deo iscity h deo isst airut delhi or in new delhi, airborne particles at hazardous levat hrecentus lntus l the biggest culpthe diesel emi and burningnd b garbage. after tr g more than 39,000 miles, t mpic torch f mporch arriving in sochi.ri thyou ha had long trip hg trip h h trave by pl travera by t car, even in a reindeer slin a r

ne it foune it fit f space on a trip to the the ternatio ace station. davi ham is getting a teameam of his own.of his o the reti d britise soccer staitise soise bought the miami pro franchise. the team s t exist yet, and still ord on wilre ioring y, b bg am is b bg not concer co d e on want am in the league when it is the right timet for the team, when it isteam, whis isrigh .isrigh eckham had a clause in his cnt with the mls sith the mls sangeles galaangeles him tom buy an expansion team.xpansi it cofbout $25 millibout $25illibout congratu tions, sir. the island of enchantment is looking a lot more like there l islandf debt. on with a 15% oyment rate d eight-yeare e ssion. omics editor michael mckee is digging i o puerto rico's and economy all day on bloombel day loomday tedavi ying to get to the om of what is happening ands happen what is k.what is whats whats

>> therobl s this could s th cou y damage the bony damage the bony dama theononon because st two third bond f wn puerto rico debt and a lot of ane do not know it is in it i the fund thn takendthn ndthn thn vantage of ibut the averageage will not be able to, no be be could be facing a possibilitya ita hang a lot of thngpo lfolio lfolio default. >> mike, what the policymakersrs do to he uerto rico?rto co? ouy, one of thouy, one of th comparisons between puerto rico and greece is the value of the t currency.rrency >> there is t a lot of good options except pray for exme and take s fundamentally improve the economy, which the which w chrren wministration h wmieen doing. they have raised taxes ificantly, they are trying they ng they ng thela h and cut spending as much as they possibly an, ich of course isrse always p icalalwaifficult.alal ging down their gingcits whilat same timeat s s that the market hangs in therehangs in there for them.r >> ss their i their i >> in theory, yo>>con theoryfor a bailout.

this no mechanism for that. detrwent bankrtrwewewe congress d ot do anything for them, jefferson county, alabamaty, alab -- so ho ul-- so hoha ul-- so ho o hotically? possie scenarioossiscenarsc could a sc to rico be like gree >> the problem is many of the muni foliosfolios including one headquartered e virginia, for exviple, that isis supposed t suppntrate suppntrateppntratenttevirginia b, 31% is in puerto rican bonds.nd if those default, those muniault, th market started to fall, we have a real p em. >> you and i ave been tal i tal ial i about this for at least five years. are we nea ere mom-and-pop hing t how who ha t aatax-frta need to sta neeee to worry about this? about >>we need to worry about th. whethe whet not wclose is acl realject of debateje of deba >> how did puerto rico even get n to this point?is p

>> this is a story in part ofpa easy mon back in 1947, 194 194 1 war i operation bootstrap gave tbootstrap tbootstraes to companstraes t would locate in order ago.in 1976, thein 197ther taxer tax law that allowed companies to repatriate earnings tax-free.ning manufacturing flooded intoinood into puerto rico, particularly companies like pharma. 16 of the top 20 drugs in thegs in in u.s. were made in puerto rico. that l the government go on aent n aenending binge.ending binng bin they kept creasing kept ize of the rnnt ector,rnedtor,rnrnre pntre p infrastructure, and to do tured to dtu th, they borrowed.they b and we rted to see the economy go downhill, some of the tax ks were tax ks wsome wsomesome anies moved out, and tmoved cannot pay their bills so they borrowed a a nue to borw annuw annuw an and bor til they g ey g to g ther hto g bt ther htother her h th they have right tow.ve right.ve rig clng businesses move businesses moveinesses veand drug veufacturers startedtart to close down businesses.

ountry is now at a points where peop saying -- it saying -- g -- interest ratesinte they are,y ar y arcan they continue to pay their debt? because it i ry hard fo i em em go to market and cont mar toand cont toand contow.ntow. puerto rican governor alejandro garcia padildro as onildril "market makers." orate stmentstn thstn th islan th isla he sa he sa he sa s on the horizon.he h on.hat h ponlson is h pon is h on h h in puerto rico, what otherrico, rico seeing in seeing in ng in are investin so much mosty dososo therhere is something to worry, people like paulsonlsonlsls companies companies bo coanies bo coanies bo coie coie co coco gej&j or generalj&j ric, what they are what thy they esen in er o, er ample of why it is reallyhy iis reallyhyllhyllhyhyhy happening down there. and dozens inv t there, it t shows the world but that iworld i

plac t now. t w. t ave to taka looke to puerto rico puertoconferencepuertonfenenenen-- comprehensive factway see see s that world ca down there in puerto rico. as part of the uni pd states the world. >> for more of bloomberg's covera f puerto rico'ser economic woes, you can go online bloomberg.com/t blor visit our award-wi g ipad ad- g ipd- btv+. v+.there ismotain higmotain hig hr this ceo. we will discuss his business coming up .co .cococo and and and d et we wiloducwe wilng up.ilng ♪ ♪

>> this is "lunch money," on," on

oo levision, and we areon, and , an streaming live on reammberlive o o ur tablet, and your ablet, a we are everywhere you are. i am a joi am weick off ou new biweoflyweofly series of small to big aboutigbout c's had 's me bigs bigles. bigigigigigig adri adri alpenglow, a company that takest takes adventur e most dange e most d e mounins in the world.s in the >> alpenglow takes alpenglow tak tak way to the way toheirheir hether t t kiliaro or everear to a p ce where nature and the mountains to re moy ares to re e on . it is very powerful and there isd th a le or everyone to learnone to l out to l to l

i started alpenglow expeditionstion aftecl bing for melf, and for the first four or e fi years, i w yeevs,yevs,ys,y s,on, so ias traveling i full-time. full hard part was arning toarningararargo andower anddes,ower ander and and et them ruet them ruethem ruetetet there iously risk involved in what we are doing, and potentiay an accident could accent happen in the mountain. in 2011, we were attempting to go t mmit of mount of mount of mount o o ever ever evev the weather completely ther complely then we had a large avalancha large cha large e ice fa ollapse that comp hut comp the route and were fo and were fo wer wer group.up. we hav ch we hes h e hard te hae ha can hard to lead when you lea just do not know what is going what is g on with your team.your tea going through thating through through robeinll gine a little gine gine tigive t tihard but it bt is a process thais a parced aaabout. ase allow other peopalloopeop

begin running our trips, it hass, is, i really all really all t ally all t ly all so mly apeople. ape i om i n around six or seven international expeditions. we ex somewhere s around 40 expeditions, and 300 and 300000000 nts, nt tont to potentially o a much bigger mounta e near future. fut >> we'll have anoth'llall to big in two w big in we will t the bigg t online m onblneher youonblneher neher bably nebaof.baof bait is ca ssuu. the ceo tells us how he plans to go from a ers to aa ews to aa ew million. ion.ion. dunkin donuts beats estimateats es es nally, it is cled a vertical on. this is a race up 1500 stairs ofof thof state bof statatatata n again

is n year with a time of 11 minutesutut and 57 seconds and s it was her friend win and that is record in is rec' i' ' ' ' ' the winner of the men'n's, h's, h raced up 8 oors id up 8 rsrs minutes, six mids.mi mi ♪♪

>> >>dunkin'>>du' donuts chain ain th er eates.es.es nues ker is expanding its footprint on the east coast with new stores. meanwhile, just mee it' just mee'e 'ough ' donut 'on on zzduld opened one back in 64 long before he realized healized he would run a wall strd run a wa brerage br sell that f br sell on dollars.ollars.ollaolla he has held onto his donut pub. our own ma oun dropma dr dr dr to find out why. >> som >>ple who getple whpl very weaplhy on wall street spd the rest spd thdays onspd d small

islands in the sun.nds nds others find whole towns in vermont or the middle of america. y geduld would have a donutt shpened 24 hou day. day ay year, it turns 50. >> wanted t omething om that if i wasn t' if i wai wa working, workini could actually come back andome know my nt was powd. nt was p d.n 2000, merrill lynch boughtht hi hi million.hi m mhan mcade latern m had lat the do one reality of owning a donutina do shop is that donuts is thatlen or in the sense or thesense health craze.rara irall, irall, iryou ed toyou have a little oil ve a lr system. system. ubri tes everything.s ever hingcontrary to public believeo pu thp' thlly' thlly' >> do ow that donuts were ere nutritious food fotritio u.s.io s in world war ii? >> ild think so. why do y hi wy won thhir?wo >> that is n interesting thininteing thining thinin

yo got some rmidable competition.n. dunkin ondunkopened ondunueen away. have two dunkin' twout' two ' two. one on 7th avenue, they did nonue, they did tke idid we had one four doors one fou o stree and the stree and str and a it was dav sus go dav su daviwon.daviwon. hen i think of competitionk of ctionk of i thin of the bigges the bigges gges phenomenons like tenomenricali donut to the histonut tonut tonut tonut to >> e >> to >> to to a to in the morn tg andthg spen spenor spenor spents.en they are smarter than me.er.. >> do t >>t of dont >>of don y once in a ile i sitn n dow with adow with a a glasses of milk. >> how many donuts are we talking? g? inly x orx orx orx orx orx eight at sitting, but justting, but just the insides. >> do you mean the donut holes?onut hol >> for i tanc if it is af f jelly donut, you break it in

lf and you eat some of tou e doon th the jelly th the jelly throw aw thainder did t have jelly. eally do that?eall >> i just think of you as very did. >> it is ver gnift iser gniser gnergner one of the few things inhe fewhe f he ffe that gives real pleasure anit annsive. anns su what life shou bat l all about.all the donut pub turhe d0 years ts ts ts t old this year, aold e saidear, a with erik schatzkethandk scscscsce, sharing some lessons learne leom both theleom both the do ss and wall st ss and wss w w >> my brher and my ther ly my ther ly mher lyr ly s ed eigtoresigtoig ig the city, ias not smay,as not s not s not s not ouo know touow touow tou toue, s weout builtbuilt sold them uisold as weuiso coul coul co co 1968, i went in 1968army

, and rother wend back to wall strback tnd started a iny firm.firm.when i camout, i decided i i i i i wolike to follow myfollow myfollow myfobrother's footstepr' 's soldstepf thref ths, kf ths, ks, ks, ks,just i wall st i didl st did not wo , and i went toi to herz here until 2000here uil 200 --re uil 200 -- u 200 -- u 200 200 wall streetid worl stt.idl idl l y keep the pub? >> it is a lucky thing to havein ow ou never know. n er k >> bet n errading set n and making donuts, what makes you happier? both. ness is si whe is isi whe is isi w isis or wall si. wall si. wall wall wall wall wall lly?llllllll >>hat a the shatit thatit t learned how to ruearned how to ruearned hage firueay owning a donutning shop. shop. it is clients, servicece employees. em em yont peopl yoome back f e ba repeat b and if you run el a a oke well. it is ju differju >> is the secret, buzzy, sret, bt,t, goo t? g t? g g ood gon.

quality product --ity pr >> you g >> you gpu .>>pupupu >> and more >> and m dunkin'nd donuts are machine donuts.hinehinehine ese are still ndmaar donuts. i think ther i big i difference -- machine versus handma >> hold on, you >> hon 14th>> h street en seventh and eighnightclub capitalsghtclub are in between ar west village and the meatpackang the riat. at.can you afford to be there therstill? therstill?s are skyhigh.e sk do you ever think ofou ei wantk i wantell i want nt >> ere to service oure toure to clients and put a smile on tput a smile pu face. pu >> come, ow.ome, ow. ow. ow. ow >> are any o ar's o ar's o a nus w a y admnus w y a >> no. >> no. in the broke in theess, i admid many but in the donutbut in tbu siness, no si >> you do this for love, compassi not money.not not >> no, not >> n >> you not get rich owning awning ag a single donut shop. >> why n open more right ope?pe?pe?pe? >> i

nt to give this up this up tup tup t ul u neul -time pe to -time you ou d d e ofd e of you guys.e of u guys t' . t' . t' t' ust saw to down a donut,n a donut, a doyot, a reatt, stephanie. donuts s stery meat, stery mestery the but do not y, n d real. eepers n tokyo arpers n tokyo arpers n tokyo ar rs an emergency drian emergency dri e dri e lla lla can't make this't mahis his in japan.s i ♪ ♪ ♪♪

>> it 5st the hour which h whichans boomer telhanion is on the market the i othvia steri o i o o s&p anposting theirpo biggest gains of 2014. .tdow risi about 188si abo888888 points. .we are keeping our eyes on theour treasury markets.

falling for a thirllr a llasllasllas ielittle bitlittle ee yield on the 10-year note is up by about three or fourutasis ut points pointsinindespite today's rallto the the dow dow has still droppehas still this year. ar.ny .ny . it is the i in emerging markets that bears the bears theunt of the blahe. f e fhae fha been be broilinmabroilinichaeloil haellmer. hael elhe joins u u with this week' with this w volatility vo vo was a week of was a bg vixxx tradingingggg g explain to me what yain to me what yain to me what ythink arewhat ewhaty ca lysts. we broke the record by a mile. le.le. ha2.4 ha trade ade ade e the previous record wasviouittle under 1.8. it was reallywa dn by the turkish bank decision for deci forrateorratehatorratehattete weaw last ek. that real kd off th kd off th kecofof vol kilecofofol kilec kilecwear kilecweloar killoar killoarararthings thons fo th vatility leading into talksalkst re postural effere. re. reevil talking about earningsg

growth. this is all coming out of the gok. go k keddd off this spike in volatility. the largest in 15 months. it ha for a rer a interesting ma in and highma nd h hma s.nd h hma nd h hlargesnd h hlarges la mohs. just foror viewers, the central bank of turkey actually doubled doub deir doub deir doub deir deiateateatea immedi ely after, the lirater, he l strengthened sthen proceededsthen proc ded sell off. ded we sarmoil througut the emerging market currencies. currenci we cenci we cwe c also saw seval cso saw-ban aw-banors callinors ca s cacoor nation including sout including africa. it it a a a a a a aing a calm volatility? >> ima>> iseen. iseen. iseen.we had a biwe and a things have started to settleta little bit. the is some sense is someense volatility is abating here. g hereig hereikik coordinaon really that happens pensernight. ght.ese markets areese market generally

g gvolatile by themselves compared mpared the u.s mparmparmarkets.marketif anything goes on thert is going to bleed into our bleets. i think thathink thavolity tthe sht-tehe sht-tehe st y. st y. st stifif volatitykes so muchs so becas emerging market g rkcurrencies, tell me why nothingl me nothingally hap nned when hap nwhen hap n argaptina a a a a a a the pe the fell5% t ks ago. ks a >> i think thrrencies have really been reactiono whatactiono whatactiningo whatthe tiningo whatthe tiningo what o wh n the cent banks make makes -- they have bs -- t tge i tge i tge i s ce 2008. ce 2008. 2008. 2008.you look at everyou lk at lk at decision peop ted to know wh ted d ision s ing toion s g to that r g to e the rket. because turkey's action was wcentral- relcentral-at i relntral-at iwhy ntral-at iwhy st.why why intery ng. inter ng..quickat kqud ofrading kqud ofrading kqud re yradieeinqud re yradi yradiradix ahead ead of the big jobs reportig j toigow morning? > usually we see some voity bleed into the market

at that moment.at the vasthee tshee tshee hee oking at the jobs report tomorrow. previously, jobs repiously, jobs let' talk alet' what is g alet' on with the tapon wi , the jobs repor, th kinbs r a small deal a especially cesring what goin wide. >> usual to ar that.ar haar hae ok f ward to geok fgwardo gehahahapayrolls out at 8:yr a.m. tomorrow rning. chael palmer,chas p mucr, mucfor in us.in in in for on the markets. ♪