[laughter] adam parker with the comment. >> that was a joke. >> we need to do a whole media thing. l continue with us. we will try to figure out what to do with him. >> speaking of spending your money the economy needed retail therapy, we did not get it. why retail sales were so bad in december. this is "bloomberg surveillance." we will be back in just a moment. ♪ >> good morning. this is "bloomberg surveillance." it is time for our earnings edge. we just got bank of america results. profit dropped 11% as fixed income trading revenue fell. the hope here was the gains from investment banking with offset the decline in trading. >> that is about what we saw with jpmorgan. >> exactly. similarly the way we saw the cfo of jp morgan come out at the end of december and telegraph this price signal that trading was going to come, we have also heard brian moynihan say that we are going to see a decline in trading revenue in the past couple of weeks. trading was not great. this goes back to what we have been talking to our analysts about. everybody thinks volatility helps trading. >> gray asic

that's coming up with adam parker. >>> also happening today, box, there it is hitting a home run on the first day of trade after pricing last night at $14 a share. it's well above that now. trading up about $10 or 70%. pros will shed some light on where they think the cloud storage company goes from here when we continue on "the closing bell." recently, a 1954 mercedes-benz grand prix race car made history when it sold for a record price of just under $30 million. and now, another mercedes-benz makes history selling at just over $30,000. and to think this one actually has a surround-sound stereo. the 2015 cla. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. i've been called a control freak... i like to think of myself as more of a control... enthusiast. mmm, a perfect 177-degrees. and that's why this road warrior rents from national. i can bypass the counter and go straight to my car. and i don't have to talk to any humans, unless i want to. and i don't. and national lets me choose any car in the aisle. control. where they think

strategist adam parker. you know how the january barometer goes down month for january, down year. think it happens 88% of the time. is this an omen? >> no, i think, to me, that's astrology. you need 10,000 year before you can get any statistical significance out of than i wouldn't marry myself to that stuff. you need to believe earnings are growing and that's what the key variable will be as we head through the rest of earnings season. >> you say earnings are growing. have you been disappointed with what you've seen so far? everyone from google to microsoft to caterpillar affected by the strong dollar. by weaker oil prices. it's been somewhat negative. do you have you to revise down based on the fact that earnings has been sluggish so far? >> actually no numbers are coming in about what we expected. above the bottom of consensus expectation setting in. the good news is you had nine weeks ago a bottom number that looked like 14% earnings growth. all the way down to 6% growth. i think 6 is right. all ten sectors of the market have seen downward revisions. to me it will be certainly