francine: let's get more with mike bell and marcus ashworth. i don't know when, we talked about manufacturing in the u.k. and the pound fall, what's being mispriced in the market? we talked about your top picks but is there anything that screams of bubbles? mike: i think some of the growth stocks, particularly the sort of expensive defensive stocks the way you've seen consistent dividend growth. the people have been buying bond proxies and some of those stocks look pretty expensive. if you think yields will move higher, then you can see the value stocks outperforming those expensive defensive stocks. francine: what about treasuries? mike: they still look a bit expensive and former upside for the u.s. treasury yield and they can move up to around 3% by the end of the year. francine: overall we saw a huge rotation from bonds and stocks, will that continue next year or is it too early to say? marcus: almost special, i wouldn't call it the great rotation but will be a trend which increases steadily. it's just simply i think the bond market is coming

let's get out to mike bell global strategist from jpmorgan. it seems like the trump or new years rally in europe and the u.s. is showing some signs of fatigue, do you think the market is taking a breather and it will get back into gear once we see the inauguration or do you think this is the start of a bigger reversal? >> we don't think it's the start of a bigger reversal. we think you'll see a period of consolidation. you have seen market gains, now a slight pullback, maybe markets will go sideways for a bit. for the whole of 2017, it will be a positive year for equity. probably moderate single digit returns. >> you still want to be invested in equities for 2017, but it will be a show-me year for trump's policies, infrastructure, tax cuts, roll back of some regulation. how do you want to protect your portfolio against some of the shocks if he doesn't deliver? on top of that we have many elections going on in europe what do you do as a hedge? >> i think there's an argument for having alternatives in your portfolio that can provide downside mpr

pence.mike [ laughter ]laught >> yeah, they're going to have v to get some like a whole dodoo nation of mike bell him out out in d.c. days ahead of becoming the the visual vp we talk aboutbout exercise. he's a fit due.it due and we asked him if he'll jog, exercise once he takes office. . he says he's going to continue n to bike ride regularly.gly now, only problem with that iss secret service protection.ctn. they'll have to keep up with m him. and unless they want to like geg pace car or something like that and go ahead of him, but it will be rough if you remember clinton back in the day he used to lovev to jog around the lincoln lincon memorial. . >> sure. >> caused a big problem for secret service.d a bi they had to mount up.ey h to mo they had to, youun knot w, takek shifts jogging with him and hima you're out in the open, you knoo gy pgy public. i mean, it's a security risk. r. star the planning now. >> i see secret service lobbyiny for a stationar executive office building.ce bu. that's what i see. >> absolutely. a >> they should get it sponsored by schwinn.wi. remember schwinn bikes.mb >> t

mike shumann. >> tom brady and bill bell check going to their seventh super bowl together as the patriots take care of the steelers to win the afc championship. this was the sesk of the consecutive afc championship game for braidy and the patriots. 386 yards thrown. 3 touchdowns. look at the time he has before he hits hogan. 16 yards. 10-0, patriots. second quarter, new england. brady finds hoagea. 346 his 18 # receiving yards and two touchdowns. 17-9 pats at the half. blunt, 47 rushing yards. 18 yards drag seven steeler defenders down to the 1 yard line. and he would punch it in on the very next play. patriots running away with this game, 27-9 late third quarter. another bay area native, edelman, eight catches, 118 yards. patriots advance to the super bowl for the ninth time in franchise history. brady and belichick going to their seventh. >> this is a good day, we're going ott super bowl man, [ bleep ]. you have got to be happy now. >> so many great players in this locker room. it's pretty special. i am excited we got this win and we have another chance to play in the super bowl. >> it is a speci

of course mike pan nel are here. i hear the bell ringing.ook at that cowboy hats. >> the jobs number came in 156,000. they were expecting 173 for the year. we are average 180 a month. 4.7%. that was expected. labor force saved about the same. hourly wages tipped up more than execed. if you're hourly wager 3% increase that's the good news in the whole thing when the take tally of the whole obama administration if you divide it up by obama come in at 1.4 million ayear for entirety of his presidency. ronald reagan and jimmy carter beat that. >> in terms of smoking mirror, we know donald trump has been tweeting up a storm over the last week, saying you better manufacture here or we're going to create jobs. you are going to see an impact when we look at the jobs number every month. but in a month from now, when he person sitting in that seat are we going to see the numbers? >> carrier deals are not scaleable. it may create a few here and there, does he get competent hennive tax done, do they bring back cash sitting back into the united states and

other. >> it showed here down the stretch. >> that is sports in a minute, i'm sean bell. >>> so, the carson wentz/mikerout bromance continues. eagles quarterback taking the ball from zach ertz after zach scores a touchdown and gave it to the big baseball star who was sitting in the front row. he has season tickets in the front row. in recent weeks they have gone hunting together so they have a nice little bromance going. >> one of the thing was the other sneaker. gift giving. >> i believe those seats, you know, they are softwares, they are $1,200 a game. >> 6:26. >> yeah. >> there is a story that broke around 1:00 this morning this delaware county pretty big fire, we have wonderful volunteer fire crews out there , knocked it down, one of our viewers took this video. >> um-hmm. >> plus a local man survives that massacre at a nightclub on new years eve, we will introduce to you jake rock, and what his brother tells us, could have helped save his life, thank god he had a cell phone on him more on this developing story after the break. where should you start when you're told you have cancer? start with a

mike rounds. >> thank you. >> enjoy the festivities. closing bell, seven minutes away. great again concert kicking off at the top of the hour, yes, in six 1/2 minutes as washington, d.c. welcomes its 45th president of the united states. fox business covering the inauguration of donald trump wall-to-wall. keep it right here for the swearing-in, oath of office, the parade and the inaugural ball. special coverage begins 6:00 a.m. eastern live from the nation's capitol. that is followed by season three premier of "strange inheritance." jamie colby has a unique heirlooms passed on by the dearly departed. we're coming right back. rodney and his new business. he teaches lessons to stanley... and that's kind of it right now. but rodney knew just what to do...he got quickbooks. it organizes all his accounts, so he knows where he stands in an instant. ahhh...that's a profit. which gave him the idea to spend a little cash on some brilliant marketing! ha, clever. wow, look at all these new students! way to grow, rodney! know where you stand instantly. visit quickbooks.com. liz: wan

mike. let's get to our "closing bell" exchange. will it be an historic friday? who knows, jim challanin, jonathan cortina right here at post nine and next to him is mary ann barto. rick santelli checks in. we have a full house as we await the magic number, jonathan. what do you think? what's going on today? >> it's funny. we had the conversation offline. let's hit 20,000 and get over with it. we can get back to the fundamentals on the market. we're focusing on our market and the new administration. we're focusing on this. i think investors want to have this. i think this might cause some people getting into this market. people wait for certain catalysts and certain milestones to really spark their interest. i think as we've gotten closer, more people are coming into this market. i think if we pull back once we get through here, it will give investors an opportunity to get through the market that we've been waiting to get into since this rally. >> it's worth reflecting where we come because if you go back to the financial crisis, people have a sense on the run up

kate rogers, mike, here on "closing bell." liz an saunders joins us from charles schwab. we have steve grasso, stewart frankel, i have no idea what he's going to say. our very own rick santeli is at the cme. i was looking at a chart of the dow. i could have looked at the s&p. i looked at a chart of the dow. before the post election rally we've been going sideways for a while. we had a big rally in february when jamie dimon said he was buying his own company stock. we've had two rallies and then it's been sideways. what do you think the next catalyst is for this market? what are you looking for? >> i think the next catalyst is obviously the inauguration of at least a portion of the first 100 days. i really think that, you know, with all due respect to mr. summers, it's not as though he hasn't advocated for many policies during the years after the crisis like the reason we're not going anywhere is more stimulus. many of the reasons never seem to hold water, and confidence, as mike santolli pointed out, is a tough thing. but i personally believe with the entire world looking

sh >> i haven't eaten a bell since i was 12. 1 >> come on guys, that looksok good. >> mike, you wouldtry it.oury but you know what the problemem is it won't look anything like e what we just showed.ho >> yeah, i know.>> yea kno >> it will be burnt, there t will be very little chicken. chk >> were you when you do try itwh i want a full report.en aul >> all right, done.ight, ne. deal. >> in the meantime full reportu on the weather. onrts long as you pay for itr maureen.n. >> why not.>>hy not. i got you. y. >> weather time, let's do bus stop forecast for the kids kids getting out there this morning, it will be prettyere mild for the morning hours. 44 to 54 degrees as you head off to school. sch after school shorts andnd t-shirts around the region possibly. this afternoon should beposs drd with some breaks of sunshinee through the clouds.throug here's your seven-dayn-day forecast.st. again, 67 degrees your daytime d high today.high t that's not a record here inhe i d.c. by the way. by e wa the record is 76. 55 degrees for your friday anddn then saturday, yes, feeling fli more like winter

. >> takao bell title healthiest fad food chaining fru. sa today i hear mikeling chain owned by yum brands announcing a round of changes cutting extra large sodas moving antibiotics from chicken it uses shares yum brands up 28% last year, i can guess mike health nut does to the eat a taco bell may be ch chip. >> up relevant in motor vehicles coover hike in gas prices cheryl casone has details. cheryl: that is right dagen, loath in mexico, spiraling out of control. after a 20% hike in gas prices. took effect on new year's day hundreds of mexicans blocking hois burning tires taking over investigations across the country more than 400 people arrest four said police officers, higher gas prices partly of government effort to deregulating prices from gasoline and diesel government says benefiting wealthy meks companions. >> low cost airline frontier reportedly preparing for an initial public offering "new york times" reporting airline hired three banks to manage if deal, paper says denver based airline to raise 500 million would value company about billion dollars.

bell is thanking supporters on this eave of inauguration. incoming first family was joined by vice-president elect mike pence and his wife karen. there were celebrities in the crowd as well including caityln jenner and south jersey native kelly anne con way received a shout out from the president-elect. >> and tonight, police use pepper spray on protesters outside another event in washington. some through bottles at people as they left it deplorable. my coanchor jessica dean is in the nation's cop toll tonight with more on the event. >> good evening to you from washington d.c.. we're hours away from swearing in of the 45th president of donald j. trump. they arrived around noon and took part in a host of festivities throughout the day. there were also a lot of people from our area from the delaware valley who came here. they told me to witness history firsthand♪ i'm proud to be an american♪ >> thursday night concert and fireworks led to celebration for president-elect donald trump and his supporters. >> i promise you ill will work so hard we'll get it turned around and bring our jobs back. we're not going to let other countries

bell is thanking supporters on this eave of inauguration. incoming first family was joined by vice-president elect mike pence and his wife karen. there were celebrities in the crowd as well including caityln jenner and south jersey native kelly anne con way received a shout out from the president-elect. >> and tonight, police use pepper spray on protesters outside another event in washington. some through bottles at people as they left it deplorable. my coanchor jessica dean is in the nation's cop toll tonight with more on the event. >> good evening to you from washington d.c.. we're hours away from swearing in of the 45th president of donald j. trump. they arrived around noon and took part in a host of festivities throughout the day. there were also a lot of people from our area from the delaware valley who came here. they told me to witness history firsthand♪ i'm proud to be an american♪ >> thursday night concert and fireworks led to celebration for president-elect donald trump and his supporters. >> i promise you ill will work so hard we'll get it turned around and bring our jobs back. we're not going to let other countries

.>> cck t taco bell's newest taco shell s made out of fried chicken.utch it's part of the naked chicken chalupa which mikee. lov you can get yours starting january 26th. >> you know mike, maybe with a little ow fmi their fire sauce n there it could be pretty ptt tasty. >> yes, it could.ou >> i'm a taco bell fan.an >> i want a whole basket ofaske them. >> there you go. your cholesterolrol terwardsds. time for our facebook fan of the day. it is ronnie taylor today.r t ronnie has ties to fox5. fox he says he was the security supervisor here from 1989 to to 1997. 1997 >> wow. >> okay. that's an impressive run. ronnie starter watching fox5 in 1985 and says working here hr was a dream come true.e t he watches us every day and he e even watched online while vacationing in the bahamas. bams >> ran knee take a break.an k you're a real m.v.p.ne and we appreciate the loyalty. >> he has an old school mug.cho old school and the new school sh mug. that's legit right there. and ronnie you could wear that r shirt today because it's going'g to be that warm.at wm. >> absolutely. ronnie just for you, how about t temperature

. >> mike, stay right there and join our "the closing bell" exchange if you would today. joining us, joe duran from united capital. keith bliss joining us here at the post 9 and rick santelli from the cme in chicago. keith, you have seen your share of market milestones as well. put this in perspective. how do you handicap the strength of this market right now? >> are you making a statement about my age, bill? >> i would never go there. never. >> your wisdom. >> you're absolutely right. this milestone, dow 20,000. in and of itself means little other than the standpoint, i will say this, is that we were often curious about why we were not able to break through in december, because there was no real technical reason to do it. it had become a psychological resistance. the behavior of the market. now that we're through it we don't see anything to hold the market back. all things being equal. michael articulated it perfectly, the three things that came together at the right time. it was like a tinderbox for stocks to take off. they accepted it. off they go. one thing we need to

. >> well, in my effort to bail mike out, because i heard you got beaten up from some people writing in we have a nice distributor here frank bellin. aren't you happy how we made this into something. franklin varietied us in. they are just opening. frank will tell us this is not some quick fix for guys like him. he has to buy equipment because he never sold beer by six pack. it looks like a cost co here. the wooden pallets and cases. this is not something you can make a quick overnight change like everybody expects. >> no, it isn't we have to buy new racking, new refrigeration and reorient the store to be able to handle it. we are going from a distributor to a beer store and we want to create an environment and experience that people are happy to come to. >> i'm looking at light beer i need a forklift to buy it by the case offer pallet. so it will be a whole different look when you get your equipment and get all set up eventually. maybe in time for super bowl sun take but maybe not. >> we're shooting for st. patrick's day. >> big day too. >> all right. >> how does this affect you and why is this better that you can compete with

bell] just like here. anybody got a pack... that needs leadin'? serving all your motorcycle insurance needs. now, that's progressive. >>> here's vice president mikeence swearing in mike pompeo as the new cia director last night after being confirmed by the senate. rex tillerson for secretary of state is advancing to a vote next week. >>> what are we expecting? >> the senate is inching along here they certainly have a lot more progress to make. trump getting his third cabinet official in place with mike pompeo who was sworn in very swiftly overnight by vice president pence. things are lining up for rex tillerson, trump's controversial nominee for secretary of state to be in place soon. yesterday, he was in front of the foreign relations committee. he approximate heads to the full senate for a vote. democrats have indicated they likely will fill buster this vote. that pushes tillerson's vote in the full senate potentially into next week. today, there is a whole slew of potentially controversial and contentious hearings on the docket, including second round of questionings for tom price, mick muvla -- mulvaney. >>> thanks for laying all that out for

bell", everybody. i'm kelly evans here at the new york stock exchange. >> i'm mike santoli in for bill griffeth. president trump has a full schedule today wrapping up his first week in office. >> yeah, trump welcoming a foreign leader for the first time since taking office. theresa may, of course. the two just wrapped up a news conference. we'll have more on why trump says brexit will be a good thing. >> tensions seem to be cooling between the u.s. and mexico at this hour. trump reportedly spoke to mexico's president this morning. details of their conversation and potential economic impact of the mexico/u.s. relationship. >> hour long call. a closer look at what's behind the drop in shares of ubs down 3.6%. that's coming up. let's begin with president trump. john harwood at the white house covering his meeting with theresa may and michelle caruso-cabrera is there, too. john, first to you. >> reporter: kelly, president trump wrapped up his first full week as president by receiving his first foreign leader in the white house and staging his first news conference at the white house. the two leaders

bell", everybody. i'm kelly evans here at the new york stock exchange. >> i'm mike santoli in for bill griffeth. has a full schedule today wrapping up his first week in office. >> yeah, trump welcoming a foreign leader for the first time since taking office. theresa may, of course. the two just wrapped up a news

mike pence is due to speak as well. microsoft and intel will report earnings after the bell and what investors can expect from them next.avid: this is bloomberg markets. vonnie: a number of major tech companies will report earnings after the bell, alphabet, microsoft, and intel. from san francisco is cory johnson. let's start with alphabet. something you are ready to pounce on when it comes to earnings? what are you looking for? cory: i will be pouncing on clicks. for all of the excitement about balloonsing cars and ascending up internet signals and undersea cables, google's main business is selling clicks and ads. ist fantastic business governed by two metrics both of which are secret. ads get know how many clicked on for google but they tell us every quarter to many more ads or click -- are clicked on. changeve us sequential in the year over year change so that is the most important number in the model. it's how many clicks on ads and how much that is increasing and the second part of that is there is the cost per click and how much revenue they are getting for those ads. we have seen this long-term decline in the cos

mike ward fought them off. >> survivor. >> yeah. we'll have more on we'll take a look at that stock as we get to the opening bell of course and we'llave mnuchin coming up in terms of testimony as well from potentially the incoming treasury secretary. >> and maybe pena from netflix who is david's doppleganger. >> if you say so. opening beafter this. ♪ >>> you're watching cnbc "squawk on the street" live from the financial capital of the world. busy floor this morning. opening bell in just about 30 seconds. the news flow is running as hot as the economic data, jim. starts, claims, philly all backed up essentially what yellen said last night. and that is if you wait too long, you could be in for a nasty surprise. >> yeah, we have a hot economy. and i have to tell you draghi is manipulating the currency over there big time because they're claiming europe does not have a hot economy. other than italy i just do not see -- [ bell ringing ] -- everyone's fighting the war, but yeah, we got a hot economy, airlines tell you that, rails tell you that, banks tell you that, do not confuse. >> that's the s&p at the bottom of the screen, big board

bell." >>> in the meantime, michael santolli is with us for the hour so, is evan newmark and peter is here to kick things off with us along with casandra torian. mikei mean, look, you go back to the data this morning. bank earnings are one thing. we'll get to that. retail sales, the control group, kind of eh. the ppi, o being. it was all right, but these aren't the kind of things that are going to send that surprise index up, that are going to keep everybody excited. i'm wondering if you're starting to see the rollover. >> the market got up and over the last month it's been going sideways. it's been hard to rattle and impress. all of those things that you rattled off, it's pretty much everyone's base case. the economy looks better. all of the optimism whether it's ceo. >> farmer. >> you want to go down the list. so i do think that's one of the issues. also, heading into next week. i just think there's enough swing factors out there that you wouldn't necessarily want to get all that aggressive, right? you had the inauguration. what kind of tone will be struck? you have davos. you have a lot of international voices and more mechanical levels. january

bell, michael bivens.s. ron devoo joining us live in the studio.studio >> what's up guys. >> thank you for having us. y >> iou ft's good to see you.eou you have new mikee executive producers and everything elsein how hard is it to tell your ownn story? >> um, we actually started thisi process about 10 years ago. a and so we had to build up to iti and now we're at perfect timeim where we're able to open up and, you know, air out dirty laundryd so to speak. sak ron likes to say.ron likes to we have a great s family over hh with bet network. show the movie. we had some really uncomfortable conversations digging up oldld wounds so to speak. spe sharing, you know, things that s happened and really getting to the nitty-gritty. but, i think our fans will loveo it it's a good time for us and a our careers and our lives. we didn't grow up in socialocl media area. we kind of slept -- swept ourweo dirty laundry under the rug at a that time.e. but i think -- a lot differentnt now.now >> our fans are interested andta we're excited.xcited >> ron let me ask you then since ricky brought it up. up. how did you decide how much much dirty laundry to share? how too it wh

bell sleeves. i was made fun of our on show by our stage manager, says it looks like something, i'll tweet it out. you won't guess. maybe you would. this is like mike's thinking. >> you look like a dominatetrix. >> or vampire or something? >> nope. >> no? >> i'll tweet out the picture once we're off the air. >> look at her teasing us. >> i'll follow you on instagram. >> it was actually a mean comment. i fielded some criticism this morning. but i'll go with it and laugh about it and tweet it out. >> yes, that's what do you have do, just roll with the punches. >> she looks like -- >> even though you can't dance, mike, i look like something that you don't want to look like. >> the adams family? >> ooh. >> okay? >> i'll tell you. a clydesdale horse. >> you look like a clydesdale horse? >> oh,. >> lauren, you look like a horse. gee, thanks, brian. >> all right, horse face, see you tomorrow. why the long face? >> that's not so nice. >> what is hidden figures? >> the movie about the women who are behind nasa, worked at nasa, did a lot of the math to get news space. >> women were very involved in the space program. >> african-american women. that's the key h