. a very warm welcome to worldwide exchange. >> thank you for joining us. here are your headlines from around the world. >> the rouble holds saiddy against the dollar as russia's central bank looks to keep rates at a ten year high. the policy is causing problems for the economy. >> i'm not a supporter of high interest rates. i think the central bank should bring it down. i don't think it will. or it will be bringing it down very slowly. step by step. >> the eu agrees to extend

sanctions against moscow despite reported push back from the greek government. russia's finance minister says cnbc his country could consider giving financial aid. you can't ignore some of the countries that raised this issue. >> prices for the euro zone due in the next hour. european markets on the flat line ahead of that data. >> flying west and snapping up a 10% stake of iag as they look to strengthen commercial ties. you're watching worldwide exchange. bringing you business news from around the globe.

welcome to the show. breaking news from italy, some long awaited positive news. inflation has fallen. december jobless to 12.9%. that's the lowest since august. november's reading was 13.4%. 0.5% for the month of december has come to 12.9%. let's look at the youth number. >> italy's december youth unemployment rate falling to 42%. so not as big of a drop as some were expethctexpecting. youth unemployment which has been a big concern for italy and one of the reasons for implementing the labor market reform. falling to 42% for the month of december. >> up a little bit off the back of the news. .2% for europe as a whole. the big data in an hour's time which is the broader inflation print. it is expected to weaken to .5%.

>> the russian rouble is moving lower against the dollar with over two hours to go before the central bank decision. russia's first deputy prime minister said both the government and central bank should pressure banks to lend more in order to boost growth. >> meanwhile, russian finance minister said life goes on despite western sanctions. it came before they agreed to extend sanctions against moscow despite reported push backs from the greeks. jeff has the latest. >> it's an interesting story. there were those that thought sanctions would be increased but ultimately i think this was a little bit of a pull back and what we had was a plan to extend existing sanctions rather than to put any individuals or

businesses on the sanctions list. the government here clearly still unhappy though with that announce announcement and there's an issue as to how unified the eu is on the position of sanctions now and what role the new greek government is playing in dividing those who would see sanctions racheted up. so i asked if the greeks decide they're going to turn their back on some of the support and they come to you and ask for money, how would you respond? let's have a listen to the conversation. >> translator: i think this is a pragmatic approach. there are politician and there are business men. and this always effects economic growth employment social stability in our countries. we have always advocated for the

lifting up of sanctions and some of of the countries that felt the negative effects of these sanctions that felt their sales in russia or experts in russia have been reduced significantly. in this situation business always lose and sanctions is a political instrument. not really correlated with the economic situation. those that feel these effects will always be losing in the situation. >> the greeks feel they have also suffered as a result of western economic policies so i guess they look at the situation you're in and feel some sympathy with you as well. do you feel favorably now to the fact that the greeks are, or seem to be adding their voice

to perhaps slowing down the sanctions support or reversing it? do you welcome the support of the greeks? >> translator: well it's not only greece but a whole series of countries including eu countries are against sanctions and i think their position is right and economically justified. everybody will benefit from lifting of sanctions because for the reasons that i just mentioned, for employment the trade, exports of goods, and revenues, had there been no sanctions we would have all been better off. >> do you interpret this though as now there is some division actually in brussels and there isn't a unified approach to

russia anymore? >> what i do welcome is that all voices must be heard and you can't ignore some of the countries that raise this issue. of course you can influence them. you can literally force them to prolong sanctions but these questions will always be raised. always will be someone against the sanctions governed and guided by economic principles but the big question here is whether they will be heard or whether they will be forced to act in a certain manner. i think that one should be valued, as i said by the pragmatic approach. >> can you imagine a situation where if athens asked you for financial support you would be willing to give financial aid to the greek government over the next few months? >> well we can imagine any

situation but if such petition is submitted to the russian government we will consider it but we'll take into account all the factors of our bilateral relationship to russia and greece. so that's all i can say. if it is submitted we will consider it. >> so let's just pick up off the back of that. so the russian government it appears is willing to listen to overtures from athens if they should be interested in raising finance but this is an economy that lost $200 billion last year. that was the impact of the falling oil price and the sanctions and of course there was also an outflow of capital. so are they in a position really to provide financing of a significant size to the athens government? well that was a question that i put to the head of the bank russia's second largest bank and

the question for him, you have been taking state aid at a time when russia needs the money. should the government really consider giving money to the greeks. >> there's some in the budget he might have allocated. i don't know. i'm grateful for the government which allocates quite adequate funding for the banking sector and that's good. whether russian government has some other spare money for support of other economies that's not a question to me. >> so let's set aside that story for the moment. the russian central bank is on the clock. just a little over an hour to go now until we get the interest rate decision. economists saying they don't expect to move today but there's plenty of voices saying without interest rates coming down soon this economy is still going to

struggle to deliver anything that looks like growth in 2015. back to you. >> thank you very much for that. as you say, 10:30 london time that central bank decision. also 10:00 london time. ahead of the big decisions markets muted today. we're flat on the stoxx 600. that's yesterday after two days of declines. a slight bounce back up just under .5%. that's softened over the last hour. the ftse 100 is down .2% today. otherwise as i said at the top it's muted. germany above flat. and the russian index, surprisingly flat despite that central bank decision coming as we said in about an hour and 15 minutes time.

let's look at bond rates. the big story in europe was that greek bond deals spiked very sharply on the fact that clearly the new government is pushing back on terms. in particular the news yesterday was pulling away from privatizations that had been included in the initial bailout terms and that is putting on increased expectations that we might see more severe withdrawals from the bailout terms. the three year this morning is at 15%. very sharp moves in the short end yesterday. increasing fears of debt default. score europe still very low. this week we haven't seen much further yield compression following the moves last thursday and the u.s. did tick up the yields slightly yet yesterday. but we're at 1.3%. the move relatively muted.

the euro has come off that 111 handle it touched last week. 113 at the moment. the u.s. dollar strengthening today against the yen which hasn't been the path of 2015 and a quick glance at the rouble as well. up .85, 69.4. oil did bounce a little bit yesterday which allowed u.s. stocks to rally. it's up a little bit today. wti crude at 44.8. brent at 49.3 up .3%. let's check in on markets in asia. sri is standing by in singapore. as ever sri over to you. >> thanks for that wilfred. well the markets giving to some selling pressure. nikkei 225 doing it's most to really try to recoop some of the heavy losses we saw yesterday.

the market was down by well over 1%. so struggling a little bit toward the close but .4% gain at the settlement. the big story is going to be china. on sunday we will get the official pmi number for the month of january. the economists are expecting something of a rebound. but once again they're under pressure and it's because of this official probe into margin trading that has continued to plague the financials and brokerages. down by 1.6%. some pressure with the hang seng as well. i want to talk about the indian market. we have seen record highs for this benchmark. gift back today. heavy selling down by 1.6%. that disappointed and hurt the financials and broader market as well. next week will be critical. the move is cautious ahead of the 4th quarter gdp print over

the u.s. but next week is going to be absolutely critical. the big question in my mind and the minds of many is whether the reserve bank of australia is going to be the latest one that joins the devaluation party. remember the aussie dollar got smoked yesterday on the back of the speculation and we got the reserve bank of india meeting next week as well. remember that surprise rate cut. doubt they all follow up on that but the big question is how is that forward looking guidance going to be. >> yeah of course india a net oil importer. they have been able to import from lower oil price which is has inflation coming down a lot. sri, thank you for that. coming up on worldwide exchange from a hot dog car to wall street, shake shack prices it's ipo above expectations we

digest that story and tell you what to expect. and uber continues to disrupt the consumer tech space. we'll speak to excel partners, a cnbc exclusive straight off the back of a multimillion investment. we'll find out more in the next hour. plus we're just two days away from the greatest show on earth and i'm not talking about katy perry's halftime show. we're live in phoenix as the super bowl weekend kicks off.

welcome back. german inflation turned a negative for the first time since 2009 with consumer prices dropping by half a per cent in january. the fall was driven by lower oil prices and cheaper food. spain has fallen further into deflation with consumer prices at minus 1.5% year over year. it's due at 11:00. routers is forecasting falling prices across the block. further deflation for the euro zone. we're joined by michael, head of european fixed income at blackrock asset management. a pleasure to have you on. it's supposed to be the strong man of europe but clearly even germany has to come to the euro

zone deflationary crisis. >> that's true. on one hand it's driven by oil price which is will impact everybody in the euro zone but in some way that new number even in public german opinion justifies the recent actions. so they might not be that spad about that money and i think the policies in place. >> you think going forward investors will be less critical of disappointing data because the ecb is putting an accommodative policy in place. >> on one side you can argue that way but maybe less so than before. before they were saying okay every weak data point contributes to the likelyhood of ecb delivery. now i don't think they'll change the size in a way. so you can say positive news is positive news and not the other way around. >> most people seeing the ecb action last week positively. what needs to follow it to

create lasting growth? >> good question. obviously the policy action in itself will not turn around things alone but we at blackrock are relatively optimistic because if you look at the influence you now have a multitude of impact which is are turning positive so you have a much weaker currency. much less tightening. people are discussing more flexibility. you have weak oil prices. you have super low yields. you have to examine qe and equity markets a bit sideways this week but overall very strong as well. there's indeed a good chance especially second half growth will be stronger. >> let's talk about the moves in greek bond yields this week because i noticed in your notes you're quite positive on certain european economies. is greece included in that package? >> no i was not specifically talking about greece.

greece is still a very special case. it's the only country where we have debt restructuring so i think they are in the case that they had by far the toughest economic downturn. by far the toughest turn around and if you compare the turn around in that primary deficit, it's one of the most successful turn arounds ever in history but it would be just a shame if the move to reform would get lost here. >> where do you stand on that debate? have they started to turn the corner? you say the right to maintain this course of action is just about working? >> yeah i think on the talk in euro zone many people have been critical about that approach. help against conditions. i would call it help against constructive reform.

if you look at many countries it's working surprisingly well. relative to what some critics were predicting. i would say the same for greece. many people talk to the high debt number and say this is clearly unsustainable and maybe over 10 or 20 years it is but they are paying such cheap interest rates. just 2.5% of gdp interest rates so in the next five years it doesn't actually matter how it is. it matters what they pay and if they do a sensible reform. to me that answers probably one day we need to talk about some debt forgiveness but that doesn't necessarily need to be here and i would argue the european side wants to see more progress and reforms. >> we just got a tweet in do you expect the spread to widen between the greek tenure and ger man bund going forward?

>> well it's almost irrelevant. i think on a medium horizon greek bonds are probably cheap here. but there's a lot in the near term. >> what is it? 13% on the five year? amazing. thank you for your time. >> let's have a look in on some of the day's biggest individual movers. net profit and sales beat expectations in the fought quarter. sales of its diabetes drugs helped offset reimbursement losses in the u.s. it also maintained it's four year guidance. caixabank net earnings in 2014. full year revenues came in before forecasts. lending income for bad loans also ticked higher during the period. it's up 3% this morning. meanwhile spain's bankia has state controlled earnings.

it's off 1.8%. and bt group with a stronger than expecked net profit in the quarter helped by strong demand for internet broadband but they were just shy of forecasts. off 2.2% and we're joined on set to talk more about the reasons for that. >> they have a good third quarter boosted by their consumer division. i.e. football. that's done very well. fourth consecutive quarter of growth. broadband is doing well. profits are up 13%, the issue i think and it depends on how you slice and dice it is the company we always knew of a giant pension fund deficit is now saying it's ballooned from 3.9 billion to 7 billion. the good news is its reached an agreement with trustees.

that's positive and gives stability and over the long run it's going to be paying the same amount of money back to its pension fund trustees. we know what the situation is. if you lead the letter to investors you will know in an environment where qe keeps being pumped out, if you have cash or if you invested in them or whatever you're better off putting that money under your mattress. it's a negative situation. >> stock is down about 2%. another story we have been watching this morning, iag shares reversed gains made after qatar airways announced it would acquire a 10% stake in the owner of british airways. iag in separate negotiations to acquire the irish carrier. let's look at how the stocks are

reforming today. down about 1.5% in today's trade. in some ways highlighting a stronger link between middle east carriers and the european aviation space. >> look we know that qatar is on a buying spree not seen in the likes of any other country any other division. they snapped up the deal to buy song bird. that's all of canary basically, the city of london and we have seeing that across the spectrum. in terms of airlines if you are not consolidating you really face some very heavy headwinds because even when you get the edging right the cost of capital is so high in airline which is is why you are seeing the lights of british airways and different carriers have sharing programs

and this is a continuation of that but we saw from the chief executive very aggressive, very ambitious man. he said today there could be more. so you never know what is around the corner. >> there's only so much they can buy. they limit foreign rules to a minority space. only so much they can put to work here. thank you for the latest on that story. still to come we're one hour away from the russian central bank decision. we're joined for a preview live from moscow where he has been speaking exclusively to the country's finance minister. that's straight after this break.

the rouble continues to fall against the dollar as russia's central bank is set to keep rates at a ten year high. the policy is causing problems for the economy. >> i'm not a supporter of high interest rates. several banks should bring it down. i don't think it will or it will be bringing it down very slowly. step by step. but not drastically. >> eu agrees to extend sanctions

against moscow despite a push back from the greek government. russia's finance minister says his country would consider giving financial aid to greece. >> what i will welcome is that our voices must be heard and you just can't ignore some of the countries that raised this issue. >> spain falls further. inflationary prices due in the next hour. >> qatar airways snaps up a near 10% stake in iag as they look to strengthen commercial ties. and we've had some data out of the u.k. december mortgage lending in december has come in against november's figures at 1.9 billion. it was a small fall but in line

with expectations. mortgage approvals were 60,000 275. that came in versus november. 58,956. you can see sterling has moved quite sharply lower to session lows. still flat on the day but a descent move off the back. >> absolutely. we have more data to break. u. s. december consumer credit at .578. versus the forecast of 1.2 billion pounds. a sharp slow down in december of borrowing by british consumers has been driven by the country's economic recovery. the number of approvals fell because of cooling housing prices. so sterling right now trading at 1.5 against the u.s. dollar. what does this mean against european markets? the markets focussing on the inflation data. the focus will be on whether the euro zone continues to trade in

deflation especially after europe's strongest economy and biggest economy did fall into deflation. the first time in five years. we're looking at the xetra dax trade flat. cac 40 down about .2% and smi down about .6%. >> yesterday the story was to focus on greek bond yields which spiked 10.2% on the ten year. the three year is around 15%. so spiking on the short end of the curve particular. the ten year did pick up a little bit yesterday but it's back to where it was at 1.73%. >> all eyes on russia as well because we continue to see further volatility in the russian rouble. extending losses against the u.s. dollar with an hour to go -- you can see that spike in the last ten minutes. take a look at that chart hitting a session high. ahead of that announcement

russia's first deputy prime minister has said the government and central banks should pressure banks to lend more in order to boost growth. so expectations high of that anounment. let's get to jeff who is live speaking to experts on what to expect in the next half ahour. >> this is fascinating because if the central bank does cut rates at this meeting there will be a lot of economists that have eggs spread literally all over their faces because at the moment the consensus is this central bank will not move on interest rates. let's put context on this. we had a 650 basis point move in december on rates as the central bank tried aggressively to extend the decline in the ruble. when i spoke to the finance minister he made the point that that volatility in the currency

has subsided. perhaps those special measures that were required to defend the rouble are no longer necessary. he made the point that this is an economy that really doesn't need interest rates now at 17%. let's listen to what he said. >> translator: current interest rates don't go along with the fundamental of the russian economy. it's totally independent. >> now it's very interesting look at this dollar-rouble trade as we come into this announcement because you do wonder if somebody out there in the market has got a whiff of something because it's been through most of the session with not too much two way action and then suddenly we start getting this dollar strength as we come into this announcement.

very interesting i think and clearly it's going to keep a lot of eyes focused on what the central bank decides to do. one of the sets of eyes belong to vtb bank. they put a little bit of margin on top and persuade people to borrow. that's a tall order which is why the bank is going to have a tough 2015. i asked him what he would like to see the central bank do today. >> i think the central bank should bring it down. i don't think it will. or it will be bringing it down very slowly. step by step. by half a percent but not drastically. >> the finance minister said look the volatility around the rouble has subsided. the inflation rate is somewhere

around 12 to 13%. there's a huge amount of space for rates to start coming down. why would the central bank be reluctant? >> they're already cautious people normally. i'm not talking about the swiss central bank but they'll be cautious because they're responsible for inflation. they're responsible for rouble exchange rate and economic growth so we shall see but i don't see a reduction of interest rates today. >> what are these headline rates doing to your business in russia? >> well these create a lot of problems for our borrowers and if it stays high too long it will create a lot of problem. we expect already negative gdp growth. i'm quite sure during the year interest rates will go down but i would rather prefer to see it

going down quickly rather than slowly. >> so just to make a point while we see central banks around europe slashing rates a aggressively the central bank had a very different mind set. they had high inflation here for structural reasons and the central bank has traditionally fought that inflation with quite a strong interest rate policy. there is a question as to whether at this stage it is appropriate for the central bank to still keep those rates high with inflation around the 12% level. so we're counting down here to the announcement and watching and waiting. it's interesting to see how they

are anticipating the ratses. >> the head of research at commerce bank is here to discuss more on what to expect on this interest rate decision. they were lifted to 17% in december to support the russian rouble but now that we have seen a little more stabilization in the rouble arguably over the past one month do you think the central bank will be forced or pushed to cut their rate given that a high interest rate is not good for they economy which is already dealing with weaker oil and declining oil prices. >> they could cut today by 500 basis points. i think the most important thing is peace in eastern ukraine. we're talking about a central bank with absolutely no power in the moment. since the end of october it's hardly intervened. they haven't really been in charge and everybody is pushing the owners on the central bank

when they shouldn't. leave the central bank alone and let them do the job but that's difficult now because you have the situation of war in eastern ukraine and an economic war waged between europe and russia. >> that's a very interesting point you make there because s&p cited lack of monetary policy as a reason for the downgrade. what you're saying accentuates the question of why putin continues to fuel this fighting in eastern ukraine when the economy is so hamstrung. >> there's differing opinions. some people are saying he's stoking the fighting but on the other part you have the european union escalating the sanctions. politicians are not on top of things at the moment. this is what needs to get resolved and without any peace in eastern ukraine with people dying every day the sanctions are going to continue. and the next risk is that the

united states increases it's sanctions. people are talking about restricting primary bond issuance out of russia. we need to see peace at the moment and there's complete lack of trust at all levels. >> let me jump in for a moment and i take on board the point that you made about the central bank but what about the sanctions? the view from here is that the sanctions are ineffective really in their desired aim. the sanctions have been in place now for what? i guess 8 months or something like that? and we really don't have any significant divergence. in spite of the protocols we have seen the fighting from eastern ukraine.

there's questions being raised here about are these sanctions actually backfiring and given that there now seems to be an element toward the greeks is europe going to end up divided over this whole strategy? >> it does look as though we're moving in that direction. there's no point to continue with economic sanctions. it's not having the effect that people wants it to. but there's no question about it. rouble has come under pressure because of sanctions and lower oil prices. that's why the pressure has come to do what it can but it can't because it's hands have been tied very much. that's the problem. >> but what about the real impact on this economy? unless the finance minister is talking out of both sides of his mouth. as he talked about 2014 $200

billion. if you look at the causes of that 40 to 50 billion they attribute to the sanctions. the rest they regard the declining oil price as the reason. the oil price would have come down irrespective of what this is. that would have been an economy struggling. but that isn't about the sanctions. it's about a much bigger geopolitical issue played through with the saudis and opec pushing the price down. >> absolutely. some people are saying there is collusion between the united states and saudi arabia to push oil prices down in a way to sanction russia which would be the most effective sanction but one thing is very clear, we have seen this in the figures over the last six months. external debt of russia dropped in the second half of last year and we're now at 2010 levels. so what's happened is because of the sanctions companies and bank versus not been able to rollover

that external debt and we'll continue to see this happen and what happens here is this will drain reserves until the end of this year. so from the level at the moment we can fall to $270 billion in 12 months which will hit the economy and hit the ability of the government and the central bank to act to support the economy. that's the transmission mechanism of sanctions. >> let's bring it back to markets very quickly. what's your call on the rouble? >> we're still looking for it the recovery of the rouble with $50 of barrel oil as the finance minister is looking at apparently. we would rachet that up to $50 million rouble.

>> head of em research at commerce bank. we'll be back with jeff later in the show. >> from russia to italy, the search for italy's new president continues. find out why berlusconi could play a crucial role in this process. we'll discuss that next on worldwide exchange.

greek prime minister held talk with the european prime minister president in athens. the first european official to visit greece since monday's general election. concerns in europe that he would follow his own course were quote, not the case. he confirmed the new greek government would seek common ground with it's european allies. more leaders land in athens today with them due to meet them for debt talks. now joining us live from london is alberto. head of credit research at rbs. do you think these theynegotiations will be drawn out as much as the market is expecting? >> i think the negotiation with

greece is quite confrontational. there would be more confrontation but eventually the bailout program will be renewed on february 28th and i think this year there will be a solution on debt extension. so the loans would be extended. the real solution is reducing debt. greek debt is unsustainable and reducing costs just prolongs the problem pushing it forward in the future but it doesn't mean that greece can earn it's way out. the problem is that if the government is too confrontational you have problems like deposit flight of the banks and loss of confidence so they can bark but cannot bite on the threats. these are like nuclear weapons in a cold war.

using them damages both parties. so thereby a bit more volatility but eventually a solution this year. a soft restructuring. >> the question is when are we going to get that solution? in the meantime you have to take a look at the markets. the bank index hitting a record low this week. what do you suggest those investors that have exposure to italy's equity market or greek's equity market or the bond market? >> i think there will be more volatility. there's more opportunities in the bond market. one of them is corporate. they can sustain this type of stress but it's a bit early to get in. also for the sovereign bonds we're going to see more confrontational negotiation and more volatility. the banks have suffered around 14 billion euros and 1,400 billion deposit. this is not a problem but it's

been very fast and as you know the government, through the financial stability fund owns two-thirds of the banks and one-third -- two-thirds of three of the major banks and one-third of the fourth one. so the policy on banks because they own them could be to lend more for social reasons which would effect profitability. the fears are not going to materialize but there could be a social lending policy. need the government to clarify what they want to do and the more they talk about it the more investors were worried about profits. the government would become more reasonable but we have more volatility.

>> let's me talk more about volatility. is that anywhere near as significant as it was for greece a few months ago? >> no i think, the italian president is significant but the country is not in such an emergency situation. the presidential election takes rounds. you have for the lower house and senate. it takes a two-thirds majority to elect a president and after that just 51% of the votes. at the moment we have a judge leading the rankings and are very far to reach the required majority majority. the important thing is to send a signal for change. choosing a candidate that's not a poll situation by profession. has not been in parliament for 20 years and the market is a bit more removed now.

we have the jobs act and senate reform and reform of the banks in the last three months. the market looked a lot of qe but is overlooking the reforms finally happening. >> thank you very much for that. head of macro credit research at rbs. >> a stock specific story, japan's biggest airline ordered seven airbus jets as part of a $2.2 billion order as placed with u.s. rival boeing. let's get to stefen following the story for us live in paris. >> good morning. the order has been split but it's a victory for the european plane maker because traditionally, a nice customer of boeing it has decided to split the order. it placed an order. market reaction positive on airbus and news offsets the

announcement we had yesterday regarding the airbus 400m. the aircraft. the problems were significant but still airbus will have to pay some because of the delays of of. they say that the technical impact could have a negative impact on the earnings. it's been challenging since the beginning. the first aircraft was delivered almost four years behind schedule on the final costs. it's already billions of euros higher than the first estimates.

replace the division yesterday but still as i was saying the announcement with news linked to the military units. >> and shares also in focus after a report that it's due to cut exploration costs by 30%. of course coming just a day after shell said it would slash spending by 15% due to the lower oil price. what's the latest reaction to that? >> we knew they would have to adjust it's capacity and investment plan to reflect the lower price of oil and the new ceo said investment in total reduced by 10% this year. it was reduced from $28 billion to 26 last year. investment of exploration will face a sharp reduction of 30%. the spending on exploration was stable at $2.8 billion. part of the reduction will come from renegotiations from the suppliers.

last but not least they're planning to reduce the cost to the new cost savings target for this year is $1.4 billion. sorry $1.2 billion. that's $400 million more than the original plan. in france total is unprofitable with it's refining activity at two refineries are unprofitable. total is planning to present a restructuring plan but said already there will be no shortcuts on the french territory. >> stefen thank you for the stories and now on to the super bowl. never mind the actual football. katy perry's halftime show and the national anthem are the big talks a head of the super bowl. they're offering all sorts of prop bets for the big game. one is what katy perry will wear and whether menzel could make a mistake singing the spar spangled banner. you can place a bet on what sort of hoodie belichick will wear on

the sidelines. who are you supporting? what bets are you making? let us know on worldwide exchange. you can get in touch with us and sweet us at cnbcwx. our personal handles are on the bottom of the screen and when it comes to sunday that's all i'll be doing is getting together with my american friends and rooting for my seattle seahawks. >> i'm going for the patriots mainly to annoy you but also because i'm a bit of a brady fan. >> tom brady. good guy. we'll discuss more on the other side of this break and we wrap up the big earnings with a check in on the big tech players. stay with us more. coming up on worldwide exchange. [ male announcer ] meet jill. she thought she'd feel better after seeing her doctor. and she might have if not for kari, the identity thief who stole jill's social security number to open credit cards destroying jill's credit and her dream of retirement. every year, millions of americans just like you learn that a little personal information

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here are your headlines from around the world. >> let's start with russia. the rouble continues to fall against the dollar as russia's central bank is set to keep rates at a ten year high. the head of the second largest bank tells us it's causing problems for the economy. >> i'm not a supporter of high interest rates. i think the central bank should bring it down. i don't think it will or it will be bringing down slowly. >> u.s. futures point low with

the dow and s&p 500 with the worst of the year. >> but amazon delivers. earnings smash past wall street expectations but revenue does miss. >> a different story for google. revenue takes a hit as earnings miss forecasts but the stock ticks higher in after hours trade. >> you're watching worldwide exchange. bringing you business news from around the globe. >> euro zone core inflation is the lowest on record. it's coming at minus .6%. versus myinus .5% forecast and further decline from the minus .2% in december. it's moved off the back.

1.132 is flat on the day. >> euro zone prices falling since july of 2009. the euro zone december jobless rate at 11.4% versus 11.5% in november. it was seen at 11.5% and core inflation rate lowest on record. you're seeing the euro weak b against the dollar. it's already down about 8% against the u.s. dollar so far this year. a strategy put in place by mario draghi to weaken the euro. the expectation is to boost european exports. we're still waiting to see it kick in. >> joining us to discuss this further, daniel investment strategist at tiaa. thank you for joining us. of course this print is bad news now. a few months ago we needed this but now that they have acted we need to start seeing the data go in the other direction. >> well, you know you have to

keep in mind these deflation nary effects are eventually going to rollover. with the ecb, the fed is focussing on core inflation which is still positive. headline prints on inflation. certainly with qe coming out of ecb makes things look better over the course of the year. >> do you think investors will say maybe this full blown quantitative easing program unveiled last week isn't enough? >> well i think you're right. it probably isn't going to be qe that turns it around. especially in japan printing the money to improve inflation or make it go higher. we haven't seen that much in japan. it's more relative to the economy than anything else.

didn't see inflation go up so it's not clear that connection works. where you're going to see the effect is on the currency. we've seen the euro fall and it's going to continue to weaken. it's through the increase in import prices you'll probably see the inflationary pick up but ultimately it will be when the economies in the countries in the euro zone adjust to new price levels. the evaluation we have seen. you'll see the negative ones lift and that will feed through. >> we've also had italian ppi inflation. that's minus 1.8% on the year. but bring it back to the bigger picture. we've seen other national central bank versus to respond to this much weaker euro with the swiss really in focus. do you think that will feed across to the u.s.? the u.k. as well? are they going to have to consider not delaying rate hikes but easing to fight back the

currency war? >> decision versus to make less of a factor. fundamentally they're reflecting the strength of the u.s. economies. we don't see the fed taking that much into account. the bank of england is a different matter. but ultimately the leverage the central bankers have aren't all that long. it comes out around to what the fundamental market forces are and even change in interest rates. they're going to have to take into account the effect on the broader economy and is it worth the other consequences if they do so thank you. we'll be back out with dan in a couple of minutes. >> the dow indicating a lower open. s&p 500 down about 11. u.s. stocks did move higher yesterday. the dow rose 230 points. volatility fell by 8% after

gaining 31% in the past two days. a lot of concern over whether the fed will normalize interest rates this year. a good gauge of stocks across the world. right now we're looking at the index down about 11 points. the big focus has been the euro zone inflation data that broke a couple of months ago reiterating that the euro zone is still trading in deflation. take a look at european markets and how they're trading. ftse 100 down .5%. the xetra dax trading flat at the moment. lower consumer prices insisting germany is in deflation as well. cac 40 down about 10 points and the micex index holding to a gain of .5%. >> as we come to the end of the week and we think last week was big announcements, will it boost

he question equities? it did for about a day. let's have a look in on bonds. it's really what greek bond yields are doing and they're pointing to fears from investors of possible debt default. if we look at the tenure we're at 10.2%. the three year is north of 16%. highlighting the fears of debt default because of the inverted shape of the yield curve. germany still around .35%. not so much move this week as last week following the announcement. the ten year on the 1.72%. let's look at commodities as well. a rally in the oil price yesterday helped u.s. stocks to break a two-day selling streak and we have a bit of positive in the oil price today. maybe that will lead stocks higher once again despite europe's crude. up 1.3%. brent 49.6 up 1%. let's get back out to dan

morris. dan when we look at the sell off earlier what was it down to? oil price or weak earnings or a fed statement that didn't inspire investors? >> part of the key driver in the u.s. market has to be earnings. they have disappointed investors but they were as big as you would expect. they haven't found quite as much this quarter. i think what's important when you're trying to understand what's going on with earnings in the u.s. right now is you have a couple of sectors with big swings in earnings and you have to look at what's happening with the rest of them. so information technology earnings have been well and strong. the other end, energy company have some in much lower than expected. so you have core earnings growth of around 3% which is very ib

conspireing, especially when multiples on the u.s. are relatively high. >> which sector do you think is most vulnerable to the stronger dollar which has been a big head wind to the multinationals that report earnings this week? >> well exactly. it gains much more on cheaper imports. but for certain company that's going to depend. if you have company where is the revenues are more export focused as opposed to input costs they're going to suffer and we've seen that in reports from companies over the last week or so. >> global investment strategist. thank you so much this morning. >> it's very interesting this debate seema. earnings debate in mar because over the last week or so the last couple of months or so the focus is what does the international economy mean for the u.s. earnings disappointed and people start to think is the

domestic situation weaker than we expect. >> now investors are saying given the stronger dollar being a big head wind you should perhaps look elsewhere, look at companies in europe that bring in the revenue in euros but shouldn't you be wanting to invest in economies that are developing and accelerate chg is the u.s. right now. we're expecting to see gdp growth of 3% in the u.s. you should want to put money in a market that is growing. >> sure. definitely evaluations come into it. >> i just feel like saying stronger dollar is the reason not to invest in u.s. stocks. i feel like that's not the whole story. that's something we'll discuss with our next guest here. but another big story has been russia. the rouble is extending losses against the dollar with 30 minutes to go before the central bank decision. jeff is live in moscow speaking to experts on what to expect with this highly anticipated decision, jeff.

absolutely. we have a little over 15 minutes before we get the announcement here. the market is inclined to think there may be an announcement to cut rates here. i have to say that would not be consensus at all. the consensus is we do not see a change at this meeting and the economists that hold that view suggest there's still risks as far as rouble weakness and the inflation threat is concerned in this economy. i spoke to the russian finance minister and his opinion is rates should be coming down soon. let's listen. >> translator: current interest rates do not go along with the fundamentals of the russian economy. so we hope the interest rates will be lowered but this is the confidence of the central bank:

we cannot influence the decisions. >> so he thinks it's appropriate for the underlying condition of the economy and the volatility has subsided enough here for the central bank to take action today. we'll wait and watch and i will be back with you very shortly as that announcement is made. >> jeff thank you so much for your time. we'll be back with you in a second when we get that interest rate decision. coming up more on worldwide exchange we'll be discussing earnings as well as big numbers from amazon and what to expect going forward from the tech sector. know that chasing performance can mean lower returns and fewer choices in retirement. know that proper allocation could help increase returns so you can enjoy that second home sooner. know the right financial planning can help you save for college and retirement.

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welcome back. the rouble slumps to session lows against the dollar. u.s. futures point low with the s&p 500 on track for the worst of month the year. a tale of two earnings but google takes a hit from the strong u.s. dollar. >> wow, let's get you a run down of what to watch this trading day. we get the first read on fourth quarter gdp. growth of 3.2% versus 5% in the third quarter.

january consumer sentiment and chicago pmi are out among earnings. they all report before the open and on a programming note steve sits down with san francisco fed president jon williams for an exclusive interview today at 2:15 p.m. eastern given the interesting debate on whether the fed should raise rates. >> let's dive into the stop toirs we just mentioned. google's profit rose 41% missing forecasts by a wide margin they cut revenue by more than $400 million. average cost per click fell 3%. google rose 1% in after hours trade having initially traded down as you can see it's up 2% today today. >> amazon beats estimates after

a disastrous loss in the fourth quarter. results boosted by a rise in amazon customers and stron performance in cloud computing. those costs rose 42%. the company says it could post a loss in the first quarter. amazon shares jumped about 12% in after hours trade. >> these are better than expected. first quarter results as the improving economy spur consumers to spend. it rose to $9.5 trillion. visa rose 4% in after hours trade. up the best part of 5% today in frankfurt. >> we're just two days away from the greatest show on earth. we're live in phoenix as the super bowl weekend kicks off.

katy perry's halftime show in focus ahead of the greatest show onner ing. they're offering prop bets a head of the game. some of the more eye watching options are what katy perry will wear and whether mezel will make a mistake in the star spangled

banner. also on what kind of hoodie belichick will wear on the sideline. we're live in phoenix as the super bowl weekend kicks off. have americans started the tailgating already? >> oh yes. the tailgating started days ago. we're here at super bowl central. it's this celebration in downtown phoenix that is expected to draw a billion people. not everybody can make it to the game so this gives fans a chance to come out and experience a taste of the super bowl. we're also learning more about that halftime show. walked into the press conference yesterday and wearing this fantastic football themed outfit. she camed armed with a mar shawn lynch joke. that is the player uncooperative at media events. when asked if she had her eye on any particular player she said i'm just here so i don't get

fined. she said there will be sharks there will be a lion and there will be a surprise female guest so should be a lot of fun. coming up later today here in arizona, things are going to take a more serious tone when the nfl's commissioner roger goodell addresses the media, fans corporations advertisers during his state of the nfl speech. this following a year where it was the off the field headlines grabbing attention. widely criticized for their inconsistent handling of high profile events like domestic abuse allegations and sexual assault allegations. fans are hoping to hear a strong reinforcement of new league policies. >> now super bowl advertisements are a aspect of the greatest show on earth. this year 30 second spots sold for a record fee. >> american football fans are gearing up for this year's super

bowl but people are already buzzing about the game's highly anticipated commercials. t-mobiles a ad hr wracked up 6 million hits on youtube. >> data that can be used to see my back hand my outfits, my vacations, and my outfits. >> and this one from bud light. nbc the parent company of cnbc is this year's broadcaster for the game and they have announced they already sold out all of it's commercials. a 30 second spot went for a record $4.5 million. this year a number of brands are coming back. dove purchased this 30 second spot aimed at celebrating the modern man. >> daddy!

>> daddy. >> victoria's secret also came back this year for the first time since 2008 but not all advertisers found success. tech company go daddy planned to air this ad on sunday. >> buddy. i'm so glad you made it home. >> because i just sold you on this website i built with go daddy. ship him out. >> but after protests from animal rights activists and a petition with over 40,000 signatures the company with drew the commercial. so with 100 million plus eyes ready for sunday and millions more on social media it's touchdown for advertisers. cnbc. >> aside from watching the seattle seahawks defend their title as super bowl champions, i guess it will be fun to watch. these commercials, 30 seconds, 4.5 murder in the second degree. that's how much a company has to pay. that's insane. >> extraordinarily expensive. >> you said advertisements.

how did you pronounce it? >> advertisements. >> is that how people say it here? i'm glad we have this global dynamic team here. >> absolutely. >> okay. good. let's talk more about sports. the nba is taking it's game to an even bigger level. bigger global level if you will. the league announcing it's largest international digital partnership by expanding a deal with chinese internet giant. the new five year arrangement will offer an expanded number of live games. original programs and highlight. games are currently televised on state broadcaster cc tv and it has an estimated 70 million followers on china's social media sites. >> just going to bring you flashes related to greece. last night fitch came out and said that greece could face a downgrade of its rating if it can't come to an agreement with

it's international creditors. they released a statement to say the results do not change fitch's rating and the base case is that the country will reach an agreement. they say there's a high risk that protracted negotiations will get it from the greece economy. >> still to come on the show our next guest says it is david versus goliath for 2015. we wrap up a busy week of earnings from the tech sector coming up next.

welcome to worldwide exchange. >> here are your headlines from around the world. >> let's start with russia. the rouble slumps with seconds to go before the central bank decision is head of the country's largest bank. high interest rates are causing problems for the economy. >> i'm not a supporter of high interest rates. i think the central bank should bring it down. i don't think it will or it will be bringing down very slowly. step by step. >> u.s. futures point low with the dow and s&p 500 on track for the worst month of a year. >> but amazon delivers for investors. shares soar after hours as earnings smash past wall street expectations but revenue does

miss. >> a differ story for google. revenue takes a hit from the strong dollar as earnings miss forecasts but the stock ticks higher in after hours trade. we are waiting for russia's central bank decision on whether they will change rates. a 6.5% increase was taken in december. as you can see the rouble has been weakening over the last hour or so in expectation of the decision. only a 1% weakening which isn't that big but just over the last hour or so people suspecting we might see some kind of coverage. >> that could be true. the russian rouble weakening around 1.3% against the u.s. dollar.

when you look at the equity market that's moving higher. the interest rates were lifted to 17% last month to support or defend the russian rouble. >> we have just got to decision the russian central bank has cut it's rate. that was not as expected. they cut the rate to 15%. so it's a 200 basis point cut which was not baked into forecasts. we're seeing the rouble move down now at session lows. 1.6% moved today. it's zwrus bejust below 70. let's get more from moscow. the decision has been made to cut the central bank rate from 17% to 15%. >> fascinating isn't it? that goes some way toward unwinding the 650 basis points that were imposed during the

rouble crisis pack in december. so we are seeing some unwinding of this emergency measure here. the reason it ran against against consensus of economists is they have been looking in the wrong place. they focused on the inflation number around 12%. the analysis is this inflation number would top out somewhere around 17% and therefore they felt there would be no room to maneuver today but i have to say as i spoke to the finance minister, he said to me look the conditions have changed in this economy. there is some room to maneuver. there's an economy that could contract between 4 to 5% this year. they drastically need a pick up in economic activity and maybe this points them in the right direction as far as that is concerned.

in december real wages fell 4.7%. real incomes over 7%. people are really suffering and feeling a decline in their living standards and this will possibly go some way toward encouraging them to think the economy can improve in spite of the falling oil price and in spite of what we have seen on the sanctions. so very interesting that we have this cut and interesting much earlier on in the program that there's some movement coming into this decision. so you do wonder if one or two people had a second sight that something may be taking place here. back to you guys. >> i'll bring you more comments out of the central bank in the last couple of minutes. they do expect inflation to decline in the midterm. they say that the december rate hike has worked as expected. also they see inflation below

20%. the next board meeting comes on march 13th. i wonder if we see more of a cut at that point. i want to get back out to you. earlier you spoke exclusively to the ceo which encouraged not just a small rate cut but the question being is a 2% rate cut enough to give the economy a little bit more momentum? >> it does a couple of things. one is obviously it will bring down headline lending rates. so that may be an incentive for some to go out and borrow at what are still very high rates but the other thing it may do is just give the economy a little bit of a psychological nudge in the right direction. when we went back to that december move that 650 basis points those in the market said they acted incorrectly here by

moving by such a large number they pushed the rouble down further because people said is it really so bad? they needed to do 650? now looking at this 2% they're hoping and gambling that people will look at that and say, well clearly, the central bank is much more relaxed about this decline in volatility of the rouble. maybe the fundamentals of the economy are better at this stage and the inflation threat is not as pertinent now. we're seeing falling oil prices. i know you mentioned the next appointed meeting but as we saw in december this is a central bank learning how to be a little more flexible and they have the ability to come out at any point and move into meeting on rates again if they so decide. they will be monitoring reaction and looking at whether it's

received positively and i wouldn't be surprised if they're scratching their heads and thinking about whether it might be worth moving further before we get to that meeting in march. we have clearwater between us to get to there and if this is an incentive for economic activity maybe they'll want to go again before we get to that meeting. i'll send it back to you. >> jeff, thanks for that reaction to this decision. the latest couple of flashes saying central bank expects inflation to tick up over next couple of months but to peak so it should decline below 20%. they also expect gdp to contract by 3.2% in the first half of 2015. the headline decision that we just heard is that the central bank has cut rates from 17% to 15%. >> some investors call russia the perfect storm. we're talking about declining oil prices weakening rouble and the prospect of further western

sanctions on russia. a tougher situation. the central banks expect gdp to contract by 3.2% in the first half of 2015 for the country let's look at u.s. pu tours. they're pointing to a lower open. the dow by 67 points. nasdaq down by 8. s&p 500 by 14 points. europe a big trading partner with russia. right now lower across the board. numbers today did confirm that euro zone has fallen further into deflation. ftse 100 down 40 points. the xetra dax is down about 48 points in today's trade. the cac 40 with a loss of around 41 points. the russian equity market hosting a gain of a quarter of a percent. >> google's profit missed forecasts by a wide margin.

google cfo said it cut it by 400 murder in the second degree. it rose 14% while average cost fell 3%. both below forecast. despite, google rose 1% having declined initially. it's up 1.8% in frankfurt trade today. >> a fourth quarter profit beating prafts after a disasterous loss of the fourth quarter. results were boosted by a 53% rise in the number of amazon prime customers and strong performance in crowd computing. amazon continues to spend on content and technology. amazon shares jumping up about 12% in after hours trade. joining us to discuss more is richard cramer. is this a turn of the page for amazon? >> generally for u.s. tech companies they're facing one of two fortunes.

i think you mentioned the davids versus goliath theme before and what you see with apple, facebook google and amazon is a willingness to spend far in advance of where the revenue growth is going so they build up both rnd and technology and content. >> this was a big week for tech earnings. apple was able to show they were able to crack the chinese market yet alibaba failed to drum up enough demand given that earnings missed expectations. so what gives? >> you need to look at the two of them in a different light. apple was launching a hero product. one for which the replacement cycle will last through the end of the year. a well flagged product launch of a single katd goircategory within china. alibaba is much more linked to the wider chinese economy and very high expectations. very successful ipo.

>> let's talk also about google. in particular advertising revenue that disappointed but that was more down to pricing? >> yeah i think you again have to look at google facebook and the add sponsored world. what google has been trying to do is clean up some of the poor quality clicks you see on their website and also on third party sites. so they're focussing on click quality. in their core advertising business that was up 8% year on year. their network business which is the third party websites they place ads on was up only 6%. >> there were interesting things to look at within that. a individual yes doing wellvideo doing well and a theme facebook was looking at earlier in the week. >> no doubt that video is the

new voice service. everything is moving toward video. facebook was talking about 3 billion video views. google was talking about billions of video views a day and a billion plus youtube users. that's the direction things are moving and that's where a lot of these companies are investing to improve in technology. >> alibaba reminds me of what facebook went through earlier in the days it went public. zuckerberg went back to his cubby hole and found a way to make mobile a bigger part of facebook's growth strategy and wall street wants to see similar growth from alibaba in mobile. do investors have enough patience to wait on the sidelines to see alibaba make mobile a bigger part of its strategy? >> again when you look at the larger tech companies, google spent $10 billion last year. apple spent $6 billion. this was up 30 or 40% the year before. amazon increased by 40%. there needs to be a lot of money put into innovation at companies

like alibaba to come out the other end a couple of years later and show the kind of 60% top line growth they're showing right now. >> richard cramer thank you for your time. >> let's have a quick look again at the rouble. what's it doing after the surprise rate cut from the russian central bank from 17% to 16%? it's at 17.12. down 1.8% on the day. >> we'll key an eye on the russian markets. but inves tors hoping shake shack's ipo will be as tasty as it's burgers. we run through the chain's numbers ahead of its trading debut later today.

right now the rouble up about 2% on the back of the u.s. dollar. that unexpected decision coming to cut interest rates to 15% from 17% in december. you can see the russian rouble has weakened about 22% against the us. dollar. taking a look at the euro-dollar trade, the euro zone continues to trade in deflation and that has resulted in the euro weakening -- excuse me right now strengthening against the dollar but so far this month it has been down about 6% against

the u.s. dollar but let's also talk about the swiss franc. we got the decision to scratch the peg of 120. that resulted in the franc strengthening against the euro. trading flat in today's trade but down about 13%. commodities have also been a focal point this month. >> with central bank decisions and volatility in currency marks unsurprisingly finally gold had a strong month. it's up 6.7% throughout the course of the month. having found resistance at that level before that. other commodities have done the opposite this month continuing their trend at the second half of 2014. brent down 14%. it's at 49.5 today. has fallen 16%.

we look at things today. >> all right. let's take a look at the s&p 500. it's on track for its second worst consecutive month but where have investors been putting money? take a look at the german dax. here's where investors have been betting on in january. the german xetra dax up 9% in january. betting on the quantitative easing program to stimulate it's economy. another market is india. trading in record high territory and rising optimism. can he deliver economic reform plus lower oil prices have resulted in india's inflation rate coming down. we also heard from president obama announcing that nuclear civil agreement that could lead to u.s. companies opening nuclear operations in india. >> thank you. now shake shack has come a lock way from its humble beginnings as a hot dog cart in madison

square park and now it's making its debut on wall street. let's get to landon. >> if you're not hungry yet you will be after this. shakeshack is known for long lines of customers waiting to gobble up it's burgers and they're hoping investors will also be hungry for its shares. it's above the expected range of 17 to $19. that could raise to 121 million if the underwriters decide to share additional shares. it's valued at $745 million. the company will start trading today under the sticker shak. it opened it's first location in 2004 and now have 63 locations worldwide. they plan to open two new domestic in a year. 450 u.s. locations.

they generate about $5 million in sales from each restaurant and has an affluent clientele. the average order for two people is $30. shares of fast casual restaurants have been hot lately. habit restaurants priced it's ipo at $18 a share. the stock has fallen back but it's up 80% from its price. they're trying to duplicate the success of chipotle that now has 1700 us. locations and is known for generating ever higher sales without increasing costs. founder danny meyer who is also ceo of union square hospitality group will be on squawk on the street today. spotify is working on a new round of fund-raising. they're looking to raise $500 million which could put it's valuation north of $7 million. the move could delay plans for another year.

they now have 15 million paying customers and another 60 million that use it's free service. wilfred back to you. >> thank you very much. >> coming up on worldwide exchange we discuss the rise of on demand services for everything from taxis to restaurant take aways. that's an exclusive coming up next.

from 17% to 15% the rouble has slid on the news. 2.6% down for the day. 70.58 session lows. >> what does this mean for u.s. futures? arrows pointing to a lower open. the do you with a negative move. lower oil prices plus a hawkish

tone from janet yellen that weighed on investor sentiment. let's focus on tech. it's investing 25 murder in the second degree in u.k. start up. they have 2 murder in the second degree in assets under europe. they join us now in an exclusive interview in studio. pleasure to have you on. >> good morning. >> let's talk about this investment. food delivery from premium restaurants. it makes sense as a business concept but there's stiff competition in this place. companies like dine in meals.co. why are you on delivero? >> it's a fundamentally different proposition. it's around delivering food from restaurants that you know locally. if you live in chelsea you're going to see ten or 15

restaurants that you know and love and you'll get food delivered to you in under 30 minutes. so it's really a logistic company that helps you get restaurant quality cuisine in your home in no amount of time. there's something different there in the concept. >> overtime do you think more on demand services will come to market? if so, what does this tell us about where the consumer is right now? are we just becoming more lazy or looking for ways to make our lives more efficient. >> it fits within a broader trend of internet of services. so we're basically able to deliver everything on demand where before you used to buy. that's uber delivero but you can imagine a future where self-driving cars move around the city. you order one of your mobile it shows up 30 seconds later. takes you to where you need to do and you can imagine a future

of everything on demand where renting has replaced buying. >> let's talk more broadly. there's been lots of investment and lots of interest in the space. it cooinincides with it. is the sector too hot at the moment? >> behavioral animals and we're always driven by the confidence in the public markets. when people talk about bubble they tend to focus on the out outlier. these companies go from 100 billion to 10 billion. that doesn't signify a bubble. what's more concerning is we see immense price pressure in the early stage rounds. state stage investments coming in and pricing up investments. we are seeing the the market

overheat. we're seeing a lot of tension. when you raise too much money too early. >> are we in a tech bubble? when will it put? >> i don't think they signify tech bubble but i think the markets are overheating. within the next two quarters we'll see it cooling down. we live in an unprecedented age of opportunity because of cloud, mobile et cetera. that does create immense opportunity for venture capital so we'll be creating really big winners but the markets are overheated right now. >> thank you for your time. >> that's all we've got time for today and this week on worldwide exchange. have a lovely weekend i'll wilfred frost. >> i'm seema mody. thanks for joining us. squawk box is next.

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all of these company's projects are finally going to start paying off. amazon shares soaring today. the e-commerce company says that sales surged during the key holiday quarter and an ipo craving. burger king, shake shack pricing it's offering above the expected range. it's ready to start trading on friday, january 30th 2015. squawk box will begin right after this music and al michaels.

>> live from new york where business never sleeps this is squawk box. >> good morning, everybody. welcome to squawk box here on cnbc. final preparations are underway in phoenix for this sunday's big super bowl. and if you were under the impression that this is all about football well think again. this is the food. there's the ad watching and now there are some crazy bets that are being made. among the wagers that you can make, how about what color hoodie will bill belichick wear? how many times will tom brady's wife appear on screen or will russell wilson throw for more yards than the total number of cents gas prices will cost on monday morning. we'll have more of the off the gridiron games in a few minutes. >> any bets on whether they're