yellin is going to fly on the star platform and saying we're not raising the rates. that's going to make it hard for the banks to raise money. >> john dancing, that's the worst call. that's it for us. stock market all over the map today. now the dow is negative by 20. power lunch picks up that story. our friends due over there right now. >> halftime is over. power lunch and the second half of the trading day start right now. >> scott, thank you so much. volatility raines as we begin a new trading month. the s&p down 2.5% so far in 2015, but look at europe. look at germany. it is up 10.5% so far this year. is now the time to jump in over there? president obama unveiling his $4 trillion budget pitch? how the defense sector is being impacted. we will tell you the stocks to watch. and, finally, check out these incredible photos. a 100-car pile-up. yes, 100 cars in chicago.

northeast storms wreaking havoc. details ahead. first, though, over to sue. she's here at cnbc hq. >> as you know it's a new trading month, but the volatility continues, and the dow has been both up and down. triple digits today. >> you can basically call that flat. in terms of interest rates, the yield on the ten-year note right now is 1.664%. brent crude firming up a little bit. west texas intermediate is up about $1. we have ice brent up better than 2% on the trading session. bob pasani is here to flush that out for us on the nyse floor. bob. >> you are absolutely right. new month, but same pattern. that is more volatility. the s&p moving the 30 point range today, and we're not even over yet. take a look at the dow jones industrial average. that also moving to the 200 point range. this has been happening all

throughout this year. average last year the dow from a high to a low on a daily basis. about 125 points. volatility continuing. ism manufacturing for january, well, it was still showing growth, but it was below expectations. new orders were lower than expected. that's that drop you see right around 10:00 to the lows today. we rallied that as europe was pretty good. >> nshs stocks leading the way as oil is up about 2% today. west texas intermediate. there's exxonmobil. earnings, well the earnings were down 18% compared to the same period a year ago. on the conference call they reiterated their commitment to raising the dividend and that is one of the reasons a lot of people own exxonmobil. as you can see, that stock up 1%.

>> volatility, back to you. >> more taxes, more spending. president obama unveiling his $4 trillion budget plan for fiscal 2016. battle lines, of course already being drawn. ayman javers sifting through the details. jane wells in los angeles focussing on one major part of the budget. defense spending. amman, you first. >> remember this is just a proposal from the president. it's not necessarily going to become law. in fact, it's highly unlikely to become law. new tax proposals, including new taxes on corporate earnings that are held overseas. a 14% one-time only teaser rate. then that would go up to 19% on an ongoing basis. also new infrastructure suspending proposed by the president here. $478 billion worth of roads and bridges, and all of the stuff that he says the united states needs. the president really takes pains to take credit for some of the success of the sec quester,

including the impact it's had on deficits. >> since i took office we have cut our deficits by two-thirds. that's the fastest period of sustained deficit reduction since after the demobilization at the end of world war ii. we can afford to make these investments while remaining fiscally responsible. >> so even though the president is citing the success of the sequester in lowering federal deficits, he is also tyler, trying to make sure that we end what he calls irresponsible sequester. irresponsible sec quester cuts in spending. what we can afford to increase spending on the programs that he thinks are akin to middle class values. let's go west. jane wells in los angeles. looking at what the budget proposal means for the defense

sector. jane. those purchases will continue to go up since 12020. that is a win for lockheed martin. for boeing over $6 billion for more p.a. subhunter planes and to develop the next refueling tanker. at least $13 billion for new ships and replacing those old nuclear subs helping general dynamic northrop drummond and engles. the $535.5 billion baseline budget is almost $35 billion overspending caps. plus, another $50 billion on the side for finishing up in iraq and afghanistan.

if congress does nothing to stop sequestration, there could be consequences for the national security. at a time when our military is stretched on a whole range of issues. >> however, a republican controlled congress may not necessarily be pro-defense at the expense of the budget and it may not want to balance the budget with custom military pay and benefits meaning it will be weapons programs at risk. though the navy really needs new subs. the air force seems committed to the f-35. the pentagon wants to retire. though the fleet of 18 warthogs, and, sue, some in congress love that program, and they may not want to cut it. basically everyone is down today except for general dynamics. >> thank you very much. this is a jobs week as you may know, and there is some tension in the oil patch as tensions fall. morgan brennan joins me with more on what's behind all of this. morgan. >> this is specifically sue, we've got nine refineries in plants that are experiencing

walk-outs, and that's after a national contract with the united steelworkers union expired this weekend. the companies that are affected marathon petroleum, tesoro lyondellbasell, and shell. this is the largest strike that we have seen since 1980 and these facilities account for about 10% of u.s. refining capacity, but this could get even uglier. now, that's if an agreement isn't reached soon. the union represents about 30,000 workers across the u.s. those are employed in 230 refineries, oil terminals, pipelines, and petro chemical plants. they represent about two-thirds of total refining capacity here in the u.s. still, analysts say the union's bargaining power is limited, and that's tanks to crude oil's 50% price plunge in the past six months, which is fueling cap ex cutbacks and layoffs. that's something we've talked a lot about on air. cheaper oil is benefitting the

refiners. that's one reason it's demanding bigger pay raises. analysts expect the price to have a minimal impact on prices. just like in 1980 gas prices specifically since refineries can still operate with skeleton staff of managers. tesoro for example, has said it's keeping two refineries running. nonetheless, we are seeing a pop in today in petroleum products. particularly gasoline futures. those contracts. keep in mind we're also seeing a pop in wti as well today. >> sprint too. >> exactly. >> morgan, thanks so much. appreciate it. >> dominik is back with a market flash. dom. >> we're watching shares of tesla. the electric carmakers. the stock is moving higher after analysts said the company is a net beneficiary of a strong dollar. tesla uses mostly parts from outside the u.s. as they gain in value, the costs are relatively lower. price target at $385 a share. you can see the shares up nearly 3% today.

tyler, they do call tesla one of the best technology stocks to own in a strong dollar environment. back to you. >> dom thank you. >> more bad winter weather wreaking havl chaos krooz much of the northeast. not over yet. here's the weather channel's mark elliott. >> well our powerhouse storm systems in a very active pattern continuing here. let's start out by checking out the radar from where we have been, right? storm system trekking its way across the coast. heavy snow worked its way across the plains right into the midwest. this corridor really got shellaked with heavy snowfall. fifth biggest snowstorm on record with 19.3 inches. detroit had a blockbuster day too. almost 14 inches of snow which was a daily reported. heaviest one day total there in years. milwaukee broke a 100-year-old daily snowfall record yesterday.

>> that's something to watch very carefully as we push on right into the evening with steady snow still lingering across new england. an icy coating near new york city. back to you. >> messy winter weather making for very dangerous driving conditions. check out this massive pile-up on i-294 in illinois. something like 100 cars were involved in this. 40 or more certainly. it shut down traffic. miraculously no one apparently sustained serious injuries. sue. >> well, that's a blessing. let's get some headlines in. apple filing a bond offering

with the s.e.c. for five seven, ten, and 30-year notes. this is the third bond offering since 2013. final amount of the deal though, has not been set. federal safety regulators say toyota fiat honested yashgs and chrysler will recall vehicles due to airbag defects. they've issued three earlier recalls due to the problem. lululemon falling on news that its founder chip wilson is leaving the company as board. he announceed in a statement in a he plans to focus on a new clothing company started by his wife and his son. in 2014 he stepped down as chairman but he had remained a board member. ty, back to you. >> all right, sue. it's been a volatile time for u.s. investors for this year so far. the s&p 500 down about 3% in 2015, but europe going gang busters. the german dax up about 10%. so is europe the place to be right now? we'll tell you which ptf's to watch. plus, the hunt for yield. a half a trillion dollar worth of advice from one of the top

performing bond fund managers in the country. all that and more when we return. more power lunch after this. financial noise financial noise financial noise financial noise

>> welcome back to power lunch. check out shares of lear corporation after better than expected profits back on friday. today buckingham research analysts think the auto partsmaker stocks could hit $120 in the next year. it also believes it will boost

its share buyback program by $1 billion the second half of this year. shares up 1.5%. it's up over the course of the past 12 months. back to you. >> thank you dom. u.s. stocks continue to be under pressure. so far this year the s&p 500 is down more than 3%. europe, parts of it anyway are on fire. the german dax about 10% to the up side. check out the biggest european etf. the van garde vgk. it's only up about 1% this year. what's fueling europe's rally and whether it can continue to outperform the u.s. sima, over to you. >> sue, it's an interesting story. the euro zone may be in deflation and growing less than 1%. that's not stopping investors from buying european stocks. the europe 600 index, in fact trading at a seven-year high. vastly outperforming the s&p 500 so far this year. the reason? central bank policy. the promise that the european central bank quantity takive easing program will stimulate growth across the euro zone.

add to that the weaker juroro expected to boost exports and provide a lifted to european corporate earnings. something that is already playing out this corporate earnings season. you know the u.s. has been focussing on the stronger dollar and negatively impacting corporate earnings of some of the u.s. multi-nationals here. the focus has been on the weaker euro and the positive impact it's having on multi-nationals like volkswagen and bmw. something that we've also been talking about is this year morgan stanley expecting a 10% rise in profitability for european corporates in 2015. you know there are some skeptics who say that this european rally may not condition. bill gross saying that the game plan unveiled by mario droghi too little too late. the other wild card sue, that a lot of investors have been talking about is greece. the bail-out negotiations taking place between greek leaders and european regulators and, of

course, the potential and the volatility that could potentially ensue. despite those risks, investors have been getting ebbing posure to europe through some of the big etf's, some of the names including wisdom tree europe spider europe stock index sxshgt i shares ssci german sfwex. germany, the best performing developed market so far this year. up better than 10%. in closing at a record high in today's trade. >> thank you very much. keeping now with the international theme, the anti-u.s. rhetoric out of venezuela getting harsher by the day. the leader there announced on television yesterday that he thinks the u.s. is orchestrateing a coupe against him. even as the company becomes more chaotic, investors are looking for opportunities. our chief international correspondent is here now with more on the ramifications. michelle. >> oil producer vens waila is in a lot of trouble because of the falling price of oil. they sell oil in dollars on the

international markets. venezuela brings in far more dollars than they used to. there are major shortages. people lining up for hours for basics like milk toilet paper, et cetera. the company doesn't have enough dollars to buy the imports that it used to. this happens because the government decides which company can have some of the precious pile of foreign currency to buy stuff on the international marks and who can't. companies like the estate oil company, or -- they're number one on the list. both are rated junk. if push comes to shove venezuela pays the oil company's debts before other kinds of debts because if they don't, the oil company shuts down. that's where venezuela gets all its money. they don't want to do that. some of the dollar denominated bonds come due in october. just eight months from now.

they trade at 88 cents on the dollar. the yield is 26%. it's issued with the coupon only 5%. fidelity had some venezuelan government bonds for sale today due in 2018 selling for 52 cents on the dollar. yielding nearly 40%. 20181 far away. a lot could happen in venezuela between now and then. any time you have a huge yield like that that's where there's huge risk. >> huge risk. of course. absolutely. michelle, thank you. >> sue, over to you. our next guest says what's happening in venezuela and with oil prices really could have big implications for the u.s. debt market as well. john bellos oversees nearly half a trillion in fixed income assets for western asset management, which was morning star's best in class winner for 2014. welcome, john. congratulations for the 2014 win. sfroo well thank you.

the team is generally optimistic optimistic, but that's exclusd venezuela. >> clearly, the story in venezuela is falling oil prices and we think that falling oil prices has created opportunities and emerging markets outside of venezuela. the yields in many emerging market countries are trading at wide levels relative to ig corporate bonds here in the united states. in some cases the widest since the financial crisis. while there are challenges we think there's also an opportunity there. >> so where would you be looking in emerging markets? which -- i guess the way to say it is balances the risk with the type of reward that you can get. >> well a few things. one theme is that falling oil prices is bringing down inflation in many emerging market economies. that's going to allow their central banks to be more accommodative, and when the central bank can be more accommodative, they cut rates, which is good for bond holders and that also boostz risk asset prices in those countries. india would be an example there.

that's a place where they've cut rates repeatly providing a boost to bonds, and also a boost to risk assets. the other thing we like are places that have been unfairly grouped in with oil countries. mexico would be an example there where we like the story and we think maybe the oil trade has been overdone in mexico. >> what duration do you usually go for, john? i know in the u.s. you were doing the 30 years in 2014 but do you follow strict duration risk or not? >> i think it depends on the country and it depends on the shape of the yield curve. let me stay on mexico for a second. mexico is a place that's had a fairly steep yield curve, that means that investors earn a higher return from going out further in the yield curve. that's changed recently as inflation has fallen being positioned on the back of the yield curve and has added to your returns because inflation falling means lower 30-year bonds. mexico would be a case where we like the 30-year bond. that's where we've allocated those resources, and it depends

on the yield curve. >> appreciate it. john bellos with western asset management. check out our power lunch.cnbc.com page for a web exclusive on mr. bellos' best corporate bond bets. don't want to miss that ty. >> sue, buy $100 million penthouse, and you get a 95% tax cut. how the super rich are benefitting from a program aimed at helping the poor. plus, do you know your mortgage rate? the alarming number of homeowners that don't. we'll tell you what it's costing them. and debt forgiveness for thousands of the poor. power rundown is next. music] ♪ introducing aleve pm... the pm pain reliever. that dares to work

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fico scores are used in 90% of credit decisions. anything worth pursuing requires knowledge, hard work and a plan. at baird, we approach your wealth management strategy the same way to create a financial plan built to last from generation to generation. we'll listen. we'll talk. we'll plan. baird. >> welcome back to "power lunch." the stock is plummeting on news its kidney drug lets a higher than expected abdomenal side effect. that's in a midstage study. an eight times its normal trading volume the shares have lost one-third of their value. it has a market cap of $352 million. on the smaller cap side of the biotech space. back to you. >> thank you very much. time for the power rundown. robert frank, diana ohlick join us. pick a surprising new finding in housing. more than one-third of americans

do not know the interest rate on nir home. this is shocking me. at least today not very many of them knew the rate but they did at least know whether they had a fixed or an adjustable rate mortgage, and that's a good start. if you don't know your mortgage rate especially today with falling rates and with new government backed loans that are cheaper than they were before you could be missing out on thousands of dollars in annual savings. >> wow. robert, you know your long range? >> i had to check a week ago because rates have gone up and down so many times. we've refinanced three times. >> you got a mortgages four years ago. it's hard to keep track. >> before we get to the next topic, more on diana's story about the mortgage rates. go to power lunch.cnbc.com. next topic is this one.

tens of thousands of croatians can apply to have their debt removed as the country hopes to boost consumption in its sixth year of recession. i'm going to become a volunteer croatian. it sounds like -- >> if you do that you also have to voluntarily reduce your income to under $184 a year. can you do that? >> wow. >> $184 a month. yeah, exactly. >> $184 a month. this is aimed to ab solve really poor people. >> the pop list politics right now particularly overseas which face a lot of austerity issues will work. >> for a while. until they can't deliver. >> whether it works for the economy is a whole other matter right? >> now for short sales you don't

have to pay taxes -- >> rick santelli that would be fun. >> that would be fun. >> yeah. all right. finally, a public outcry coming out around the so-called 421 program in new york which allows major property tax abatement for the rich instead of the poor and low income. robert frank wrote about this a couple of years ago and right now the focus is on the recent hundred million dollar penthouse sold at $157 at 57th street. it will have an estimated 90% tax break. that's because of the 421 program. explain this. i assume this is because the developer of that property sets aside certain union knits the building for moderate or low

income house sfg. >> correct. in return for the tax break he has set aside 20% of the unit for affordable housing. the problem is this is a program that started in the 197 0z. it's become so complex developers can now game the system with these certificates where when you ask 157 that big high-rise where the affordable units are in exchange for those tax breaks they can't tell you. >> these affordable housing units don't exist. >> they're in the bronx. they're just shifting around where they put the units fwrsh you asked any developer in manhattan -- we've been talking to an awful lot of them lately people say it is impossible to build affordable housing. it's even impossible to build rental housing in manhattan because it's just too expensive. the property values the property taxes.

something needs to be done to help developers built the type of affordable housing that new york city and very other expensive cities, populous cities need. there's a real crisis in affordable house. >> the gold market quieter to start out the trading week. it's down about $1.08 on the trading session. cop ner london steadied out a little bit. let's see how the rest of the complex is doing. it's just modestly to the down side. he is tracking the action in bonds and securities. hi there. >> unlike many people that may not know the rate of their mortgages and maybe it's because they feel that somebody will take care of their mortgage whether they know it or not, in treasuries everybody is highly -- rates are a whole lot lower than they start the year out. if you look at an intraday yes,

it looks like we've elevated. this next chart, this is a cnbc unique original. you're not going to see this anywhere else. how similar they are is freaking traders out. we've travelled more distance from the 217 we closed last year down to the current 167. but for all practical purposes, the patterns are almost identical. one thing that has changed, the dollar strength against the yen. one year chart really reveals that we've lost the momentum there unlike some of the momentum we've gained in other areas like the canadian and australian dollar. tyler, back to you. >> rick thank you very much. compensation claims related to general motors ignition defects jumping before the deadline over the weekend. the latest numbers coming up and check out how shares of gm have been doing over the past year. down nearly 10% in that time.

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welcome back to power lunch. it was widely reported earlier that it would sell about $5 billion worth of bonds, but now multiple sources are reporting that the company has launched a $6.5 billion debt offering in multiple types or classes of offerings. apple shares just about unchanged on the day. still increasing, it looks like on the bond offering side sue, for apple's particular issue. back to you. >> thanks very much. volatility is the word right now. is the bull market still sfwakt? joining us jean portfolio manager at advisors asset management, and joe -- gentlemen, welcome. i know you both generally are bullish on this case but what about the volatility? is what we've seen so far in january likely to continue for the rest of the year or not? >> hi sue. yes, i do think we'll continue to see volatility but i think the underlying bias will improve. i wouldn't say for this year as does january so goes the year.

i think underlying this volatility is a market that has seen a lot of change afoot, and the most important part of that change is i think that investors are showing a greater willingness to take more risk for more reward, and that's favoring growth over value. you look at the comparison of the russell growth total return versus value total return year-to-date. growth is beating by over 200 basis points. >> joe, you are still overweight the u.s. because of the underlying economic fundamentals, correct? >> that is correct. i would echo a lot of gene's comments in that i would expect volatility is probably going to stay with us for quite some time. you have not only diverge says monetary policy between the ecb and between the fed. unfortunately, we have a strengthening dollar. we have weaker oil prices. that's also going to lead to volatility. we ask ourselves, though who is likely to be the beneficiary around the world? which country is poised outperform from a growth perspective and as it leads to earnings. we continue to believe the u.s. is best positioned for that. >> gene, what sectors do you like?

in the past you have liked technology. is that still high on the list? >> it is very much so sue, and i still like health care very much. i like the industrials, the manufacturing, aerospace and defense in particular. broad base and macco in nature and that's why they can navigate through some of the short-term headline challenges. >> i think some of the same sectors are on your list as well. >> some of the same sectors are certainly on our list. from a regional perspective, of course, we're looking at maybe the oil importing economies in countries that are poised to benefit, and, of course the consumption driven economies. if you think about consumers staples and consumer discretionary, even technology to some extent i essential believe those companies are poised to outperform.

energy, of course, a little bit cautious. have you to ask yourself how much lower can oil go. >> surgerying before the deadline over the weekend. we are in washington now with the latest. hi, phil. >> hi. we expected a rush towards the end as is usual. whenever you have this type of a victim compensation fund. ken feinberg says they saw approximately 600 claims come within the last ten days in january. the cutoff was midnight on saturday. all told 4,180 claims have been filed for compensation.

sgroot emotion surrounding these accidents. young kids driving their first automobile. the emotion is very very high. we haven't yet had one eligible claim from where we made what i think is a rather generous offer turned down the money. >> it will depend on the person's circumstances. generally speaking you are looking at pay-outs of somewhere between $4 million to $6 million. all together the compensation fund is expected to spend about $400 million, $600 million. many of the claim decisions are still pending. they're going to be working on this for the next couple of months, but there are 3,000 of the applications that have

little or no evidence at all showing that the vehicle was responsible for the death or injury of a loved one, and speaking of the faulty ignition swimpz those repairs continue. >> when you come across them i'll say that's a recalled vehicle, and they'll say, yeah i think i heard something about this. general motors is trying to reach these people. there's only so much the automaker can do. they've done it through social media, recall notices, and they've certainly been in the news. it's curious to see when it's all said and done how many of these vehicles will actually be driving around without being repaired.

>> right. right. people -- i hate to say this but people are generally looking and they go eh it's a recall. how serious is it? it is very serious. a lot of people are saying i don't want to go to the dealership. that is human nature for all recalls. >> phil thank you very much. >> you bet. >> and we continue to watch that story, of course. well, you watch the game last night? i think something like 50% of american households did. the seahawks quarterback russell wilson threw that will interception. who is to blame? head coach? the offensive coordinator? wilson says blame him, but it got us thinking about which other leaders made poor snap decision whz it really counted? ceo mistakes coming up. plus would you describe yourself as strategic, driven creative? join the club. the ten most overused buzz words on its member's profiles. we'll tell you the number one word right after this. oh, passionate.

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it could've been brenda. >> will you guilty of using a good chunk of them? the number one most overused word is motivated followed by passionate creative driven. well, can you check out more on the story as well as expert tips for avoiding the big cliches on power lunch.cnbc.com.

>> words like lazy, slothful. creative and passionate. sure. you've probably seen this a few times today. many people questioning pete carol's -- my goodness. the decision to go with the throw on second and goal rather than letting the big burly back beast mode marshawn lynch run the ball from the one. the business world is no stranger to very accomplished very competent ceos making big blunder. here are a few of them. let's talk with the senior associate dean and jeff wolf president of wolf management consultant and the author of seven disciplines of a leader. let me begin with you. did mr. carol fail as one of those leadership discipline that is you pin point? >> the result was a failure, but i don't think he failed in the

decision making process. you plan for these things. you call that scenario planning. i'm sure he had a number of scenarios that he went through in dieding what he wanted to do and he made the right decision. in terms of what he thought. he went forward, and it just didn't work. oftentimes both from a sports world and corporate world, things don't work out the way they normally do. maybe more poignantly, how do you bounce back from a decision that as mr. wolf just said may have been the right call for him but the result was wrong some. >> well, thanks tyler. i respect mr. wolf and his work. i really disagree that that rationale analysis is not what happened here. it really wasn't a system mattic scenario that led to this. it was an emotional panicked move.

this wasn't the rationale decision. the good thing he did, of course, was to fall on the grenade so that darrell beveragel doesn't take the heat for it. the quarterback doesn't take the heat for it. leerl, you wonder what was the decision making trap there? was there some sort of group thing? was it a panic decision? you look at john acres at ibm years ago. >> had he millions of his there was a breach in the security. he didn't deminimize until this past month he was attacked in the sony cyber attack. suddenly he personalizes it which really -- >> those are different cases where people i think, jeff respectfully they were not owning their mistake. >> they didn't. exactly.

>> and carol did. that's what i really respect pete carol for. they fall on the sword. they admit it. you don't throw people under the bus. you come out and say i made the mistake. >> we so that happen too often. mark fields at ford did this to too well. he and bill went out showing the devastation of some of the manufacturing towns. we've seen -- they took management heat for it saying these are the images of what our bad calls did, and that helped to motivate people. mlk and xerox did this. the new coke fiasco. people in the recovery were so good with coke that people thought that maybe don as president had engineered this. he said we're not that dumb.

we're not that smart. sometimes -- >> let me -- >> accountability really helps when you own up to it. >> let me go back to your initial point, which -- excuse me. mr. wolf. got two jeffs here. mr. wolf if i might, go back to your initial point. it wasn't really rationale when you had the biggest, burliest back in the league right there and hasn't been able to throw in for a loss all game. was it rationale? >> well you know what, who are we to say that it's rationale or not. it's real easy for us and i saw this after the game yesterday. in this particular instance the call wasn't good. they didn't make it. >> if they -- if they had scored, he would have been a

genius. we would all be saying what a gutsy call it was. the guy right there, he jumps and makes a very great play that turns the game their way. folks, thanks very much. the two jeffs. thanks very much. appreciate it. >> thank you very much. >> stocks struggling a little bit for direction in today's first trading day of the week. energy leading the gainers. health care one of the biggest lagards. more on the market moves when we come back on "power lunch." there's nothing more romantic than a spontaneous moment.

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xfinity customers add xfinity home for $29.95 a month for 12 months. plus for a limited time, get a free security camera call 1800 xfinity or visit comcast.com/xfinityhome. in this hour of power tesla shares higher after global equities research said the company is a beneficiary of a strong dollar. news that its candy drug is higher than expected side effects. lear's stock could hit $120 welcome back the next year due to a likely share buyback program. shares of lear rising for the second consecutive session on that news. check out apple. it was widely reported that it would sell about $5 billion in bonds. now reuters and other outlets reporting the company has launched a $6.5 billion debt offering. apple right now is trading fractionally on the down side. >> and if you missed any of the big stories this past hour you

can go visit our cyber power lunch.cnbc.com. all right. on now to the yahoo finance question of the day. we asked what is the worst snap decision from these three? 17% of you said john scully's firing of steve jobs from apple was the worst. 30% say search engine excite passing on a hands to buy google for $750,000. this would be an example of recent bias. 53% say the seahawks final play in super bowl xlix. i guess i would go with excite passing on google for $750,000. >> if he had made the catch, we would have been singing his praises. >> gutsy call. >> $1 million a month to raise the kids? just the latest in the escalating divorce battle of hedge fund billionaire ken griffin. why would three children under the age of 10 be that expensive? that's coming up next. that's a lot of leggos. you're right. first let's see what's coming up on "street signs."

>> has oil found a bottom? well, we speak to someone who says yes. also, is wall street getting more negative? we'll debate that. what would be the american sniper affect on the presidential elections? an interesting take on hollywood's possible influence on politics. lots of things coming up at the top of the hour. power lunch does return after this quick break.

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million dollars a month to raise the kids. that is the latest in the escalating divorce battalions of henl fund billionaire ken griffin and his spouse. robert frank back with the story. >> kids are expensive. we all know that. especially if they're used to taking the private jet to their five homes. get this ken griffin, hedge funder and founder of citadel is getting divorced and his ex-wife is asking for $1 million a month in child support. they have six kids under the age of 10. the costs include $300,000 a month for jet travel. they own two planes. it also includes $160,000 a month for vacation rentals. they've already got homes in chicago, aspen, hawaii miami beach, and new york. and $60,000 a month for office

space and professional staff. i guess that would be for her, not for the kids. the rest of that million dollars a month would go to nannies, tutors, schools, clothing, food drooefrz, and all the other necessities of being a child of a billionaire. now, griffin says that the million dollars is too much and that ann diaz is trying to fund her "opulent lifestyle ask desire biz calling them child care expenses." diaz says griffin is trying to punish his family and avoid responsibility under illinois law to maintain his children's lifestyle. people close to diaz says that million dollars a month is what they spent on the kids before the divorce, so that's the amount they're entitled to after the split. now, he made according to her, $1 billion in comp last year so it's all relative. >> i guess so. but $1 million a month to raise three kids? >> they're not even in college yet. >> i don't think they're doing them a service. just my opinion. you know it's just an insane

amount of money. >> it's staggering. they lead a different life. >> yes, they do. but not necessarily a better one. >> no absolutely not. >> all right, folks. that is "power lunch." >> very silent during that. don't get me started. that's all for "power lunch." >> street signs starts thousand. it seems like a great day to play a little boston. investors are looking for a little peace of mind because stocks can't decide which way to go. no super bowl hangover here. lots to do including why these gas prices may not loost for long. whether oil has finally hit a bottom, and the one stock sector getting a big boost from washington d.c. today, mandy. another big swing for stocks. >> yeah. you know the first trading day of february really has been as volatile as january in its entirety. the dow was up. it was down. as much as $127 points.