interesting. >> it does not and. >> adam parker of morgan stanley and alan krueger.et today. don't we?anhen the jobs report is due in an hour. ♪ >> good morning, everyone. i'm tom keene. with me, adam johnson and scarlet fu. ukraine.of chancellor merkel and the president later this morning from the white house. what do we have next? >> betty liu is here. she is going to take us to the jobs number. who do you have to round up the discussion on it? trusthave a big brain with us this money. alan krueger is going to be joining us when those numbers break. , his reaction to the jobs data. be in oner is going to the conversation as well. finally, jason furman. he will give us the white house view on the future of jobs. >> the guy before him was hit or miss. >> i know. what happened to him? >> we found him! >> i'm a huge fan of jason furman. >> he is going to give his own view. >> come on, alan. at 8 a.m. tarting new york city's bike sharing program is looking for an investor so it can expand. i'll to bicycle share has been term withing a equinox. bikes and6000 city talk of

let's talk about it with adam parker with morgan stanley. you're optimistic.though we counted 12th record high of 2014 yeah. our base case we grind higher, end the year at our price target of 2014. we see earnings improving and think the fed remains, so that's a good backdrop for equities. >> explain why the 10-year yield this morning hit the lowest level since last july? >> well, you know, our interest rate manager covers the 10-year, his view is that, you know, there's been tactical and positioning issues around that. my view is that earnings are growing, my view is that while the economy is improving, going to improve less than the consensus expectations and if the fed stays accommodative that's a good scenario. i don't think the base case is that great, sara. i think it's more that the bear case isn't that likely. equities can do well as long as people don't see a high probability of the bear case forming. >> something important is happening here. somebody described the markets in this country as zen-like overnight. it's this steady okay, maybe it is a ste

morgan stanley's adam parker is not worried about the recent pullback. he says the s&p is still headed through the roof. adam, for 2014 you have an incredible price target of 2014. >> i mean, what pullback are you talking about? the market is less than 1% down from its all-time highs. >> whoa, whoa, whoa, the russell is down 10%. >> the s&p 500. >> just to dismiss that -- we have a situation here where a large part of the market is not acted well. >> she was talking about the s&p target of 2014. >> all right. >> that is about 7% upside from here to year end. >> it's got to be a world record for jumping in. that was like two seconds. >> i'm sorry, she was saying the target on the s&p. so there's no doubt it's been a huge rotation underneath that. that's all people are talking about, the rotation out of growth or the small cap underperformance. target, i don't think it's through the roof. i kind of -- you could call it how you want but to me 7% upside between now and year end is pretty much in line with our earnings expectations. we don't see that much mult

adam parker, thank you so much. pfizer isnext, seeking an offer from astrazeneca.more details and tell you when to ask that this eel. -- deal. ♪ we are here on bloomberg tv. the head of research is kicking it off. >> i will talk about pfizer. >> i am surprised we are not talking about this. billion deal06 that they are building -- today for astrazeneca. they want to order them back to the negotiating table. the pfizer ceo is on the charm offensive with regulators and british lawmakers. they are trying to turn that around. pita -- s are often a takes overr astrazeneca, they could be domiciled in the u.k.. the government is incentivized to let them do the deal. pfizer get a discount. and what is really interesting to me is that if this deal goes down, pfizer will be the erred biggest acquirer in the history of companies. verizon, blackstone, bank of america. >> wow. warnerto was aol, time austin mark >> that was a big acquisition. >> pfizer is a big company in general. >> you are talking all time stop >> it is often just about tax. it is strategic, but there is a big

we talked to adam parker yesterday.recent trend we have seen in the market of momentum stock, the growth stock in particular. he has it at gaps between value and growth. seen value outperform growth. he says when that happens, this continues for another 9-10. during that time, energy is the best performing group and consumer discretionary is the worst. repetition of the trend, which he believes we will, discretionary will be one of the worst forming groups over the next 9-10 month time. class i data differ. adam mimicked our 2014 target after november. here thatave to say what we expect would be the consumer would be back or small luxuries. think jack-in-the-box and also it on a higher and tiffany's global basis, that should look good. we also have to say when you think consumers for -- discretionary, it is a home depot kind of life. renovate. >> he was so pessimistic in terms of jobs. they do not have the kind of money to spend. look at 40% discount. it means you do not have confidence someone will buy full price. soay

equities strategist adam parker weighing in next. >>> also, warren buffett has spent decades buildinghaway into one of the world's biggest companies. but coming up, someone says now is the time to break up berkshire. he lays out his case that says will be a windfall for investors. >>> and colorado approving financial service cooperatives for licensed pot sellers. but is this a big step towards overregulate what's quickly becoming a cash crop for the government? creep it right here. you're watching cnbc, first in busy worldwide. honestly, the off-season isn't really off for me. i've got a lot to do. that's why i got my surface. it's great for watching game film and drawing up plays. it's got onenote, so i can stay on top of my to-do list, which has been absolutely absurd since the big game. with skype, it's just really easy to stay in touch with the kids i work with. alright, russell you are good to go! alright, fellas. alright, russ. back to work! >>> welcome back. so the nasdaq has been the real market laggard recently. it was an underperformer again today. sheila, what is eating awa