pg&e filing for bankruptcy protection china firing back after huawei is charged with fraud. meantime, the u.s. imposing tough new sanctions on that guy, venezuela's nicolas moduro will russia or china bail him out? we're going to find out. theresa may staring down another big brexit vote in the u.k. parliament apple fixing a major security bug that lets facetime users eavesdrop on others. yikes. it is tuesday, january 29th, and worldwide exchange begins right

now. skbrienchts welcome do cnbc and world wooitd exchange. i'm brian sullivan here's how your money and global markets are setting up not a big move in stock futures. we're down 39. s&p and nasdaq are down just fractionally in the red. its going to be all about earnings today earnings, a lot of numbers rolling out, and this has the power certainly to change over the next couple of hours as always, much more on your money and the markets ahead. first, we have some big breaking news out of california pg&e filing for chapter 11 bankruptcy prengz. this comes as the company faces billions in potential liability in the wildfires adidi has been covering the story us from from the beginning, and she's live in california i know it's 2:00 a.m long day or early start for you,

but this is a big and important story. >> yes, definitely kind of both a long day and an early start. the bankruptcy filing, brian, came shortly after midnight pacific time the news, of course, was expected even after cal fire said that pg&e would not be held responsible for the tub fire that still reduced the liability by up to $10 billion the utility estimates it still has tens of billions of dollars. the potential liabilities from the 2018 campfire, which is still under investigation as well as more than a dozen fires from 2017 in northern california pg&e has also asked the bankruptcy court for $5.5 billion in financing which allows them to move forward with chapter 11 the utility has said in regulatory filings it faces 750 cases involving 5,600 plaintiffs from those wildfires 11 class action suits as well. pg&e says the filing will allow them to remain in operation. the case is likely to take years and involve a variety of stake

holders from regulators to rate payers, bond holders, and fire victims just to name a few in a statement blue mountain capital and activist shareholder which has been critical of pg&e says it is disappointed in the decision and that by filing for bankruptcy pg&e ignored kault calls from multiple parties to abandon its reckless and irresponsible plan to file for bankruptcy a move that will harm all stake holders. brian, back to you >> it's going to take many years, so they've asked this bankruptcy judge for the financing. you can expect a bunch of different groups from bond holders to creditors trying to file claims to reclaim, you know, what's owed to them as well as fire victims in previous incidents that pg&e has already been paying out. it's likely to be a very complicated process again involving so many stake holders

asking for those claims. >> thank you very much >> you bet also happening, three other major developing stories abroad. the u.s. charging huawei with stealing trade secrets our treasury department hitting venezuela with tough new sanctions and diverting billions of dollars meant for nicolas moduro and three u.k. lawmaker holding a major brexit vote today. a lot of news. as always, we've got the team for us let's begin with eunice where we are getting new reaction to the new fraud charges against huawei >> that's right, brian china slamming the u.s. indictments with the i.t. ministry today calling the move unfair and immoral a foreign ministry also accused the u.s. of unreasonable subpoe suppression of chinese companies. they also said to drop the arrest warrant against the huawei ceo the u.s. justice department overnight had handed down two indictments. the first is a 13-count indictment which was filed in

new york alleging that huawei misledders and u.s. authorities in order to do business in iran despite u.s. sanctions the u.s. believes the cfo orchestrated the scheme and the second ten-count indictment charges two huawei affiliates with attempting to steal robotics technology from u.s. carrier t mobile this is the kicker here and getting a lot of attention it also says that huawei offered bonuses to kpleez employees who obtained confidential information from rival companies. now, huawei issued a statement today saying it is disappointed to learn of these charges, and it denies that it or any subs y subsidiary or affiliate have committed any of the asserted violations of u.s. law and is not aware of any wrong doing of miss among just a couple of moments ago among's lawyer also said that she shouldn't be held hostage to u.s.-china relations and as it turns out, these indictments came down the same day that vice

premier arrived in washington for those trade talks and, brian, i got to say, that there are a lot of people here who believe that this is really going to affect the negotiations >> yeah. the timing really interesting. eunice, live from beijing. the u.s. imimposing new sanctions. the u.s. will buy no venezuelan oil, but another important move here is that the u.s. treasury has ordered citgo to divert all of its u.s. revenues into u.s.-controlled accounts, and we could then reroute to the government we recognize in venezuela. that of juan guido it's designed to cut off most of anybody lass moduro's money. oil prices are moving a little bit higher on the news up about 1%. let's bring in now helema croft at rbc there's so much to unpack.

listen, the sakes and the oil itself don't appear to be that big of a deal. they're down to 500,000 barrel az day we can use easily make that up what about the citgo news? how much do you think that is going to alter the game in venezuela? >> i mean, this is a huge story. if you think about for venezuela, all their exports to china and russia are essentially paying back loans. they generate revenue by placing barrels in the united states we really are taking away billions of dollars from the moduro government. it's a move designed to get the military to finally abandon him. whether that happens remains to be seen, but it is a crushing blow for the venezuelan economy. even for u.s. refiners, it's going to cause a struggle to get more heavy barrels at a time where we have sakes on iran. iranian barrels are not coming into the united states, and saudi arabia has decided to cut exports to the united states in an effort to pump up prices. i do think it's going to be interesting to watch the dynamics play out with gulf

coast refineries and the hunt for the barrels. >> now the oil tankers out there on the high seas, they can't come from the united states. from what we've been told and some of the reporting we've been done, they're going to have to find new markets to sell their oil. probably india or china. they're probably going to have to sell that oil, are they not, at a deep discount because, of course, you have a lot of factors and u.s. political heat could then alter the pricing model for oil. >> absolutely. i mean, if you think about it, this is now becoming the ultimate distressed barrel it's going to be more expensive for venezuela to get those barrels there, and they're going to have to offer significant discounts to get anyone to take those barrels. i think the key question in terms of political dynamics in venezuela is anyone going to step up and provide new financing? again, look to russia. look to china. they are the ones who can determine how long mow duro stays in power if they give haim lifeline, he may have more time otherwise, he could be out in a shorter period

>> the reason we got you on, is because we want your opinion here's the thing russia's roznef owns -- they control it they bailed him out once before. theoretically, i don't think it's an exaggeration to say it could collapse if they get no oil revenue. do you really believe that russia would step in and offer the regime more money or a new loan when they're probably afraid they're not going to be paid back the money they are already own owed >> i mean, there are reports that the russians have been reaching out to the opposition in order to have all of their bases covered, but this is also a very important strategic relationship for russia.

zpleenchts completing your hat trick, let us now turn to the u.k. british lawmakers are set to vote on theresa may's brexit plan b villa marks live with more on this >> you could really call it that, brian. of course, what the prime minister has been required to do by parliament is to come back up for that crushing defeat a couple of weeks ago and say how are we able to find a way forward? please give me your suggestions. mp's have been able to put through a series of proposals. we're looking at a dozen of them right now tonight. the speaker of the house of commons will then be able to choose the proposals he thinks, a, have sufficient backing potentially to pass, and, b, represent enough parties that it's seen as representing the will of parliament those amend ams, proposals, include one that would rule out no deal. it essentially says to the

europeans, we want a deal with you guys, but dwoent like this backstop, this insurance policy around the border with ireland we would like you to try and reconfigure it in a way that we are able to exit from the customs union that we might have to fall into if we don't in turn find a trading deal with you by the end of 2020. still, a huge number of moving parts. none of these really are going to be legally binding on the government, but they will at least suggest by tomorrow morning which direction parliament would like to head in in terms of finding a solution to this deadlock >> wilham, thank you very much >> so much covered, but so much still to do on a very busy tuesday, and it is earnings bonanza. some of the biggest companies on wall street reporting their results today. the big names that need to be on your radar and a rare black eye for apple security a major iphone bug letting users using facetime eavesdrop on other people full details when worldwide exchange comes back.

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been killed. they are cooperating with prosecutors. that stock tumbling yesterday. no trade today what other are the key stocks that you need to watch today? frank holland joining us now with the names you need to know. frank. >> hey, brian, we're going to talk about washers and dryers, chips, and jet planes. we're all over the place let's start off with the applianc appliances fourth quarter earnings from whirlpool coming in mixed. a strong beat on eps an unexpected decline in revenue. the company also issuing a disappointing outlook for 2019 last year intel said it would spend $5 billion to upgrade its existing factory in israel the company has not yet commented on the new investment wrv now to sap

key metrics including new cloud booking, so it all slowed in the fourth kwaur sap will take $1 billion in restricting charges, mainly in q1 we're gearing up for a big day, really a big week the rest of wall street, a slew of big name companiesset to release their numbers, including, of course, apple after the bell today the federal reserve also kicks off its two-day policy meeting with a rate decision expected tomorrow what are the key things you need to focus on with so much going on let's talk about it with gina sanchez, and a cnbc contributor. all right, gina. we've got corporate earnings we've got trade talks. we hope tomorrow we've got the federal reserve. >> i think earnings are top of mind i think we already know probably what's coming out of the fed

i think people right now are focused on earnings. i think you're seeing slowdown stories and a lot of more negative guidance out of the earnings numbers now, remember, brian, these numbers are being guided down very, very hot numbers it's still actually quite a good outlook. the market is priced in, you know, such high expectations we're still sort of starting to look at a slower expectation >> i don't want i don't want that take anything away from our amazing team coverage that are across for the next couple of days if the guidance comes in good, but the federal reserve becomes way hawkish, more hawkish than we expected tomorrow, could that derail everything? is. >> that could certainly put a dampener on it i think right now it would be unusual for the fed to come out with any surprise tightening, but everybody is watching every

word in the fomc, and you are right, any kind of switch to a more hawkish outlook, basically most people feel like there should be nothing tomorrow. >> i don't anticipate we're going to get positive trade talks, given what is happening if you look at how many companies are exposed to those trade talks in one way or another, you know, you talk about, you know, tumbling nvidea outlook. that's because of china.

these things are hitting the earnings numbers now, and so i think to imagine that these trade talks are just purely rhetorical, they're actually having impact. those have so far been just presented clouds over a lot of earnings expectations. a real pleasure. get ready for a big week i'm shuffling papers still ahead, the state of the union address back on. early details of president trump's big address to the nation and a winter weather alert a big part of the country especially the upper midwest bracing for a polar vortex it's going to be negative 15 in chicago. it's negative 23 real feel in minneapolis right now. bundle up. get some hot cocoa or coffee we're back right after this. have you ever worked with dr. francis? oh yeah, he's ok. just ok? guess who just got reinstated! well, not officially.

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>> it's going to go down to negative 19 degrees in chicago thief kaenlszed school in minneapolis and other parts of minimum minimum because it's so cold we'll have more on the polar volunteer teksz coming up. in washington news, the state of the union is back on. speakering of the house nancy pelosi reinviting president trump to deliver that address to the joint session of congress. the speech will take place one week from today.

schultz addressed that criticism in an interview last night with our own andrew ross sorkin >> are you surprised there seems to be more anxiety among democrats? is that what you thought would happen >> what people don't realize, and i think it's important is approximately 42% of electorate identify themselves as independents that's more than people identify themselves as republicans or democrats. i also believe that republicans and democrats are looking for a home, but they have never had a choice before. they've only had a binary choice between republican and democrat.

i wasn't surprised that democrats are concerned, but i think they're jumping and rushing to judgment. >> you can see more of andrew's interview with howard schultz coming up on "squawk box" in the 6:00 a.m. hour. police were trying to serve a search washt during a drug investigation. that's when they were met with gunfire. two suspects killed during the firefight. the police department said late last night that two of the officers were in critical but stable condition the average delay was around an hour

today and tomorrow could be among chicago's coldest days ever with low temperatures forecast to reach 21 below zero. some areas of the state have already been buried in over seven inchtds of snow. and a consumer alert thousands of neck tar evens, peaches, and plums have been recalled over a possible listeria cam nationtamination luckily, no illnesses have been reported the fruits were sold at stores like aldi, wal-mart, and costco. the fda says if you live in any of the affected states and have bought fruits from these stores, return them for a full rebund. those are your headlines back to you. >> thank you very much more on the kbroeg crisis in c caracas. more on the big breaking news in pg&e the california utility filing

for bankruptcy as it faces billions in fire liability back with reft ts.mo aerhi a luxury car te more teched out than silicon valley? with a cockpit fit for aspaceship. hang on. radar that senses things the human eye can't. busted. and the ability to make a thousand decisions before you even make one. was all this, really necessary? what do you think? ♪ ♪ hawaii is the first state in the u.s. to have a hundred percent renewable energy goal. if we don't make this move we're going to have changes in our environment, and have a negative impact to hawaii's economy. ♪ verizon provided us a solution that lets us collect near real time data on our power grid. ♪ if we can create our own energy, we can take care of this beautiful place

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california utility giant pg&e facing bankruptcy protection it faces billions in -- the u.s. trying to end the regime saying no more money from citgo will flow to venezuela, but will russia or china bail out moduro once again apple facing and fixing a major

security bug that lets facetime users eavesdrop on others? all this ahead of apple's big earnings tonight you're watching worldwide exchange on cnbc always first in business worldwide. welcome back thanks for being with us here on cnbc i'm brian sullivan let's kick off the second half of the show with the executive recap. all the news you need to know in about 60 seconds frank holland is back with that. pg&e is the biggest utility company providing gas and electricity to some 16 million people china firing back this morning after the justice department filed criminal charges against

huawei beijing calling that move unfair and immoral. the u.k. holding another critical vote on brexit. lawmakers will decide whether or not to approve british prime minister theresa may's amend the plan to leave the e.u. that vote is scheduled for later on this afternoon. brian, back to you frank, thank you very much >> we continue to follow the developing story in venezuela and the crisis in caracas. u.s. imposing new sanctions late yesterday on that nation's state oil firm the move will also force u.s.-based citgo to dedivert all of its revenues into u.s.-based accounts they need to cut off the money supply to nicolas moduro, the dick at that timer let's bring in russ dolland, managing partner let's try to get to sort of meat for the us is and the cnbc audience, which is do you believe that this move cutting off the citgo money to venezuela will work and will eventually

force out nicolas moduro because he will simply run out of money? >> thanks for having me, brian again, it will definitely put a crimp in his style, if you will. whether it's going to force him out, you know, we've had a blockade on cuba for 60 years and that hasn't worked >> they're trying to form a -- last night we tracked a russian charter jet that we believe had over 500,000 -- 500 security personnel from russia to come and assist to keep moduro in power. >> it looks like putin may be playing both sides here they

bailed them out earlier. if that collapses, russia could be out a few billion dollars they made a loan of 1.5 billion, part of six billion that ro osnef had loaned venezuela, and as a collateral they put up 49.9% of citgo in the united states the u.s. is never going to let russia, who is in an adversarial position with us have that, and steven mnuchin has said that they do have rights to force the sale of the collateral, which would then take it away from the opposition >> it's a bit of a confusing story because everyone knows citgo. it's a u.s.-based company. thousands of good men and women in houston and other places in

lake charles, lindumont, illinois they're under attack from both sides. they have the russia side, of course they've been under credit attack from this hedge fund called crystal x, which is still working through the courts now the u.s. is saying all the citgo money must be diverted to u.s.-controlled accounts so we can make sure that the money goes to the juan guido administration, if you will, but is fluff to send money too. >> >> you are right. that's what perhaps the russians are targeting. if he is captured or killed suddenly this is put down rather quickly. that is certainly the cuban way as well. let's not forget their hand in this

we are using all the tools and the democratic arsenal this oil embargo is perhaps one of the last of the embargo -- the economic tools we have the venezuelans should be worried that the man that got noriega out of panama with the u.s. troops is now in charge of venezuela policy >> let's not forget there are big u.s. companies like chevron that have deals and relationships inside the country of venezuela, so there is u.s. business interest there. keep us informed on the story. i have a feeling we're going to have you back on again very soon russ, have a great day >> you too, brian. thank you.

you got the federal reserve, trade talks as well. joining us now on set, mark, equity portfolio manager at what is your take on the macromarket right now before we get a little more micro >> sure. well, we're dealing with a few things right now the underlying economy is okay okay or good >> the less good it is the more -- what we're hearing from companies like caterpillar yesterday is as we get to the meerjing markets, china, europe, there are some slowing that we're seeing across the globe. the more domestic, the better.

we're going to places where there is the most value in the market, which is more cyclical economically sensitive things at this point >> give us an example. >> well, a good example might be a company like sally may, which is a financial when i go to cyclicals, financials, industrials, consumer discretionary type names. you have a company like sally may trading at ten times earnings there's concerns about credit. there's concerns about slowing we think since it's a domestic focused business, the value is there. >> were you abuyer of caterpillar yesterday on the 9% sell-off >> we actually don't own caterpillar, but we are overweight industrialed, and we think there is some significant value there.

we got relief here around the fed saying that they're pulling back a little and thinking about slowing down, they're talking about removing issues? >> is that the kind of language you want from the fed? >> i think the answer is yes the fed is more data dependent as opposed to being on a blind path of raising rates. it's good to know they're getting to the end of what they thought was dampening down some of the negative effects. now they're going to take a pause and think about what's happening, kwhs good for the market, and so we can -- the

market reacted to that positively now you are talking today about tariffs, et cetera, and that's a big issue. companies are talking about tariffs specifically having an impact not just on trade or economics, but on actual costs. at leasture not in chicago great town, but cold new this morning, aetna is teaming up with apple on a new held app for apple watch it's called attain it will use your medical history to set personalized health goals. the app will reward aetna

customers from meeting activity goals and economy e recommended tasks like getting vac sin ags or refilling prescriptions apple earnings are tonight me thinks that will be a big one. all right. up next, a facetime fluke. apple fixing a major security flaw that let's others eavesdrop on your group facetime calls yikes. plus, we just talked about some big earnings on deck a ton of well known names set to report their results today all coming up today pfizer, em, apple, and about 95 others we'll let you know the key names to watch when we come back so, servicenow put your workflows in the cloud, huh? mmhm. your employees must love you. [ chuckles ] thank you. you could say that. i love you. servicenow works for you.

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>> even before you accept the call now, if the user hits the volume or power button to dismiss the call, guess whark the camera turns on imagine how embarrassing that can be. 180 turn there snapchat is also concerning revealing the identities of users who make public posts. the change might create a new revenue source for snap, and could also scare off users who come to snapchat for that feeling of privacy provided by your disappearing posts.

it's kind of a conundrum one thing, though, i have never been on snap instra gram basically does the same thing, though >> black panther has returned to 250 amc theaters, and it's completely free. interested viewers just have to reserve tickets on-line. disney announced the event as a celebration of black history month, and will be getting a $1.5 million grant can i get a quick aside? >> i was a huge comic book collector as i kid marvel has not gotten enough credit for this character and the way they've weaved it into the comic book canon and the way they've weaved black history into the character

up next, focussing on the fed. the fed kicking off a two-day policy meeting could they get more hawkish and surprise everybody tomorrow? and sky-high risk. commuters in san francisco are going to new heights to aindividual the insane cost of living to morning rbi and you have got to hear this story. you think your commute is expensive? wait until you hear this stick around

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left phillip, goods to see you. >> nice to be here >> we've become this polarized nation we know that we've become almost this, leak, afc-nfc. blue or red. right or left. you or us. splitting the country one side or the other in your mind, what are one or two things that we can do to sort of find that middle which we know exists, by the way >> right we need to get back to people their freedom to make practice choices, and both parties completely missing the boat. howard shelts on to something. the left thinks that the job is just to get rid of trump no, they've got to solve the problem that got trump elect >> when was that >> which was incredible alienation because big brother beeted down people's necks all day long people fill out forms that nobody reads they can't -- they have to go to 11 different agencies to get a simple permit. all that kind of stuff is driving people nuts. zroo it takes more permits and sort of, you know, red tape to

become a hair dresser in new jersey than a truck driver that's the kind of stuff you're talking about. you are preventing people from doing stuff because there are so many hoops to jump through, this they simply may not be able to >> it's built up almost without noticing over the last 50 years this huge kudzu of bureaucracy you can't fix it of president since reagan has promised to fix it, and it's only gotten bigger the premise is wrong it tries to tell everybody exactly how to do everything and it takes away frir dignitheir d commonsense. you have g to back to what the framers would have wanted, and that's to give people a job, public job two, hold them accountable for how they do, but don't tell them how to do it >> and you put out in the rule of nobody, which i have urged so many people to read, in order to pass new laws, we need to remove laws there are so many laws that are even antiquated and old. nobody even politicians knows how to work their own system except for some vested interests

that are able to sort of use these old worthless laws almost like holding new stuff hostage >> washington is like to quote louie 16th everybody is here for the status quo. all the interest groups protect the status quo i had breakfast with a former senator. he is organizing a convention of states, and we're going to propose an amendment for a recodification commission that will propose -- because washington will never do this -- propose a simplified structure area by area that actually -- snoo what would that look like give us a quick example. >> woerkz safety laws, 4,000 rules. it would become probably 50 or 100 pages of principles, goals, things that people could really understand, and then the agency would focus on unsafe workplaceworkplace workplaces infrastructure, we have three pages that would create clear lines of authority to make

decisions about how much environmental review you really need, who gets to decide if the agencies disagree. you don't spend ten years in these stupid processes to get something approved >> three years to get the permit for a bridge, and then long are to actually build it try commonsense is the name of the book replacing the failed ideologies of the right and left. phillip, it's a real pleasure. good luck with the book. keep preaching the message >> let's get you caught up futures off their lows there's so much going on trade talks. the fed. jobs number friday let's bring in a guy i know, sim seymour and a guy that apparently sometimes goes on the other 5:00 though, which is just offensive. >> there's 5:00 morning and evening. frankly, they're both a lot of fun. >> we call it ten the hard way two 5s >> feels easy. >> i'm going to ask you the question we've asked so many other guests with all the stuff going on, it's easy to get lost. lost in all the noise. what's key to you? >> i think the federal reserve people are underestimating that the fed is still the most

important driver for the markets, and while i don't think the policy statement is going to be alarming this week, i do think that there's still risk the markets have priced in legacy fed rather than more fed. it's about positioning versus where they were. the reality is that earnings have come through almost in line, but the earnings season now which was supposed to save us, if anything, i think it continues to remind us that there are certainly factors in the economy that people are now pricing differently than they were three months ago. >> we're just getting started. of course, caterpillar down 9% it's a -- >> those numbers weren't all >> no, that's the point. the market is reacting so slowsive russly to numbers that are just -- that's what makes people nervous, i think is that a little miss or a little of that and a little of that, and it's a big move. >> a lot of the dynamics in trade. we've been well flagged in terms of global cyclicality. in addition to apple after the bell, there are parts of the economy that are going quite

well i think people have gotten very lost that there are value wags throughout that have become extremely attractive especially across the industrial space and some of the cyclicals. >> is the fed going to get it right? >> look, i think the fed is always by definition supposed to be a step behind, and, therefore, is reacting look, the fed seemsz to have clearly adjusted their language. the market clearly was off sides in terms of their expectation of how aggressive the fed would be. i think right now the fed is in more of a wait and see mode, and that's probably what markets need remember, the key to last week was really the sense that the balance sheet run-off was starting to ease up where. >> that's it >> you sort of stole my next question >> i hate doing that, brian. >> you always have one behind it here we are. >> i'm the guy behind the guy behind the guy that's also known as my producer in my ear. here you go. we talked -- we're going to talk a lot tomorrow on power lunch about the fed rate decision. as we should is that more or less important than the balance sheet runoff? what matters more? the quantitative tightening or the rate itself?

>> i think both the rhetoric and the reality of the tightening. the tightening for a lot of people that are aren't into the nuances of fed policy, and this is not nuanced except for the fact that a lot of people hadn't built that into their growth projections in the drag on the economy. i think the run-off of the balance sheet right now is the fundamental issue. we know that the fed is going to be data dependent. the rest of the stuff, though, or at least the fetd runoff was almost the robotic part of what people say, hey, hold on a second you really are supposed to be reacting day by day. >> our friend here on cnbc, scott of guggenheim has a line where he says bull markets don't die of old age do you think the central bank is going to screw it up, or despite some early missteps, they're going to be able to make sure that they can run this economy, which looks like it's slowing a little bit, into a gradual landing? is. >> let's be clear. the fed balance sheet is at 11% off of the all-time highs. the fed is a lot of work to do, and i think the fed needs to be focused on that. however, you can't do that in a vacuum every other central bank -- mago

draghi has just said in it is last 24 hours we don't see growth slowing yet we will be prepared. i think every other central bank is probably got their finger on the trigger more than the fed does >> i'm going to go deep into the conspiracy theories, but, hey, the show is almost over. i got nothing to lose. there are those out there, the far fringy fed folks, you know who i'm talking about, that will say the entire bull market stock run of the last seven or eight years was simply the fed balance sheet $4 trillion, being inflated, and, therefore, once it's deflated, all of that equity gain is going to go away. >> what i would say is forget that conspiracy. the reality is that the central bank put in the fact that we always knew there was going to be more liquidity behind the next door or more to the point, liquidity was not being taken out. we had nine years of liquidity being thrown at us just the mere fact that that's coming out for the first time in painful for markets. we've seen that in the last 12 months when that's been heightened >> fast money's tim seymour.

ten the hard way 5:00 and 5:00. don't ruin those apple earnings tonight. make them good >> we don't -- don't kill the messenger, brian we're just here to talk about it time for your morning rbi. san francisco is known for its expensive real estate, but how expensive do you think it really is how about this in order to avoid paying the rents of san francisco, a houston law firm has decided it is less expensive to fly its lawyers back and forth for the day on a $3 million private jet. they have come out and said this is not an extravagance they fly their lawyers out a couple of times a month. they do their work they fly them back the reason is not because they want to fly around in a private jet. the reason that the law firm says they do it is because it's actually the cost-effective choice over having a permanent office and having to house and pay partners and law associates in san francisco san francisco, so expensive it's

cheaper to commute by private jet. random, but interesting. that's it for "worldwide exchange" on this fine morning e you on "squawk box" in ten minutes. "squawk box" overall is next thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. healthier brain. better life.

>> it may not be the end we'll tell you why plus, andrew's interview with presidential hopeful howard schultz. mike bloomberg, and what he had

to say tuesday, january 29th, 2019. "squawk box" begins right now. zbloinchts welcome to "squawk box. i'm becky quick along with joe kernan and andrew ross sorkin. we've been watching the u.s. equity futures, and after a down day yesterday for the markets with the dow down by 200 points, you are looking at redary rows this morning dow is indicated down by 29 points right now s&p has indicated down by about three points, and those declined yesterday for the s&p actually put it back in correction territory. down just over 10% from the highs that we had seen late last year you can always take a look at the nasdaq down by 15 points this morning at least that's the indication let's take a look at what's been happening overnight in asia. it does look like the nikkei ended flat hang seng was down slightly.