that's the dollar. si put, when the dollar strengthens, it pressures oil prices. that's because crude is priced in dollars. so when the dollar goes up traders using other currency to buy crude find it more expensive. many traders are buying in you guessed it euros. euro falling to a fresh 12 year low against the dollar. traders expecting to py fairly soon. >> when you look at the price action of crude oil and what the dollar did, crude oil, the loss in prices was accelerated towards the afternoon. >> reporter: and this isn't the first time the almighty dollar impacted crude prices. in 2009 when crude dropped from more than $140 a barrel to the low 30s, the dollar strengthened significantly at the same time. >> back in 2009 we saw the u.s. dollar move considerably against the euro and we're seeing that today again as the dollar strengthens, crude oil comes off. but if there is a pause in that strength and you see actually the euro start to strengthen crude oil will rise again. >> reporter: and the expectation is that the dollar won't quit. many of you have been cal

dollar against the yen at 120 pretty much bang on. the aussie dollar looking at 0.77. and sterling 1.4846. sterling is significant down this morning 0 pntd 7%. let's have a look at bonds. it's a good indicator what to expect for rate rise expectations. my take if we are above 2 % on the 10 year we're expecting something before september. if we are below we're probably expecting something around september or a little bit later. we're below at the moment 193. that move below 2% came when january janet yellen was a little more dubbish. low yields across europe. important discussions between merkel and sipp russ today. where is the rally in the u.s. dollar was brief and volatile. we had similar moves in the oil price. but still around 6 year lows. 45.4 for wti. 54.4 for present. let's check in on markets in asia. we are standing by in singapore. over to you. >> thank you very much for that. we had a reasonably stronger wall street at the tail end of last week. so that's benefitted the asian markets. earlier on in the trading day. but as you can see sop of the gains are eva

. >>> emerging concerns as the dollar strength ch the strain. and something with exposure to the region should pay attention to. >>> and the ties that bind. why the federal reserve may have a big dollar dilemma on its hands. all that and more for "nightly business report," wednesday, march 11th. >>> good evening, everyone and welcome. stocks failed to hold their gains, extending yesterday's big slide as the dollar continued to climb but we begin tonight with the final results of the bank's stress test. 28 of 31 large banks received the go-ahead from the federal reserve to return capital to shareholders. bank of america has been given conditional approval and will have to resubmit its capital plan while the u.s. unit of deutsche bank and sander has it rejected. the big winner may be citigroup which saw its stock initially rise in after hours training after its capital plan was approved a big change from a year ago when it failed the annual test. kayla tausche joins us now with more on that. it is a big win for citi kayla. >> it is. of course you

7453 on the new zealand dollar dollar.k: search -- shares of nintendo surging after the company says they mark plans to using mobile devices. it marks the end of the company resisting using iconic cha racters on smartphones. 22 people killed in tunisia. visitors of poland, italy, and germany were among tourists killed. japan's prime minister confirmed three japanese nationals were killed. eu leaders meet with sanctions against russia. financials port for greece and energy markets leading the agenda. the greek prime minister requested a meeting on the sidelines of of the summit. with ecu leaders as well as mario draghi. manus: janet yellen has proved she is predictable. but the exit from e-zine may be more gradual than anticipated. peter cook reports from washington. peter: the fed open the door to a interest rate increase, but also signaled they will go slow when liftoff occurs. this demand came in the latest policy statement when they dropped their pledge in being patient and said they will move when they have seen furthe

dollar. nasdaq up 14. s&p 500 up just about 8 points in premarket trade. now the dollar was also in focus. yes, that's right. it wasn't just stock that caught the attention of traders. the euro hit a 12 year low against the dollar. they expect the euro to fall to the dollar by the end of the year. 90 seconds by 90 cents by 2016. >> we are bouncing back today seema seema. europe was included yesterday. we know of course that policy won't be tightened which has been one of the big factors weighing in the last couple of sessions. so a little surprise that europe was involved in the sell off yesterday but it was bouncing back today. quite strongly as well. mario draghis comments giving extra to markets and highlighting the fact that even though of course we do have the growth picking up that policy will remain moving toward strong gains across the board. >> ftse 100 is in the green today. it was weighed on heavily because of weak commodity prices. see what what are commodities doing here today? >

dollar. as you can see sterling right now also doing the same against the u.s. dollar. we'll continue to discuss more about what it means for your portfolio and we want to hear from you on this. are you taking advantage of the weaker euro? join the conversation on worldwide exchange. get in touch with us. e-mail at cnbc.com. tweet us and our personal handles are on the bottom of the screen. >> let's get back to volkswagen which posted record profits in 2014 helped by gains in china. the german auto giant expected to increase production to 5 million vehicles annually by 2019. that's up from 3.7 million currently. >> now those figures could help volkswagen in the race to welcome become the world's number one auto maker. they surpassed general motors to take the number two spot with 10.14 vehicles sold but that number fell just shy of toyota's 10.23 million vehicles. the latest update could set the stage for another fierce battle with toyota this year. let's get out to phil who joins us from berlin where the volkswagen annual meeting is taking place. give us your headlines

tom: dollar strength where you get a true ruben-jack lew dollar.ow does that for you to the fear -- this is away from your expertise on demand but how does it following from the reality of disinflation? jim: as a traditional inflation hedge and of a hard asset -- tom: why would i need gold? jim you: would not need it if you thought the dollar was going to remain strong, that would dissuade you from being a big buyer of gold. there is also the argument that gold is still a good portfolio diversification instrument -- tom: you sound like a lawyer! jim: oh no, no no. i could never have gotten through law school. tom: when you look at it, james steel how did the etf's change the dynamics of gold? jim: that was one of the reasons the market was able to get up to the highest that it was. before the etf, we did not have a good way for many investors to be able to buy gold and hold it without problems of insurance and storage. tom: i love those in my dresser drawer. jim: exactly. there is a premium for points. it is a much more simple way of doing things.

in fact, if you just go back five years on the dollar look at the dollar as the dollar index. basket of other currencies. you can see over five years doesn't move that much and then boom, the dollar shoots up in the middle of last year and it's been going up since. the last 24 hours it has been an aggressive move. here's the key. it's a u.s. story about a stronger u.s. economy and signals from the federal reserve for higher interest rates driving up the value of the dollar at the exact same time you have weakness abroad fueling ease where i policies overseas. lower interest rates and emerging markets. you have a double whammy and it's much more powerful of a move than normal. that's what's going on against this back drop. there's no end in sight unless the federal reserve for some reason holds off. that's one reason the forecasts are come down every single day. just today deutsche bank cut its forecast for euro to go all the way down to parody by the end of this year. 90 cents next year. that causes pain for funds that have poured money overseas for companies that do business

dollar-rand has been strong and weak. the dollar has been generally strong. i don't know that you can extrapolate a day-to-day move with the trend in place. jonathan: i'm going to play to the media stereotype. head towards the dollar. too week? are we going to have that conversation? guest: if you overlay the timeline of qe with the dollar qe in the u.s. is coming to an end or they are trying to filter it out. it is not an exact science. telegraphing of the messages is not perfect. subsequently, you've got a dollar rally. you've got the eurozone doing the same thing. probably, it is going to continue for a little while longer. i think the euro weakness is in shape for the time being. i think there will come a point when the euro is going to research. jonathan: what is the catalyst for that? guest: i think when draghi starts to pull back. not for another year or so. jonathan: parody, do you expect that soon? guest: if everyone is watching for a target, you may not get it. you may get a slight backup. that is a tactical approach rather than fundamental. fundame

and the movement in the dollar, it is just sort of a road bump or speed bump on the way for the dollarue its rise against other currencies. the gold move makes sense. the oil move is interesting. maybe you saw the bottom today and a big move to the downside following the rally. maybe you get a couple days of rally in the oil market. but the real story continues to be the bond market and what it's telling you. and >> so let's go into the related trades, guy, you say there is a bid for bonds. but let's look at financials. what is standing out is the banks that lend are doing more poorly than their peers the citi banks and banks of americas are not participating in the fed-induced rally here. and the way i'm reading is they are saying the economy is going to be weak and business won't be as strong and the yield curve is flat. >> you're not getting the yield curve and the steepening yield curve. it does make sense but you are saying rallies in the goldman sachs of the world. goldman will rally. i think you will be surprised by how well their fixed income currency commodities division does

of course, oil down in price, also a strong dollar, king dollar. all of that should be good, but it's not for us because it is too much. again, the diet analogy. it's one thing to go down to a size 4 or 2, if you go down to a 0 and have to wear kid's clothing, you have a problem. charles: when we start talk inflation and deflation, everyone knows inflation. people don't know deflation can be a lot more insidious. it's what happened during the great depression, people expect prices to go down. that sweater that is 100 bucks in the window today. if you think it's 90 bucks next week, will you buy today? no. it becomes a death spiral, it's a lot harder getting out of that. >> i disagree. deflation means you are able to buy more goods. >> no, no, deflation is a spiral that is terrible. the reason japan was at a 15-year high is because there was wage inflation, and the workers -- charles: let's make a note, japan was in a deflationary death spiral that took them off the grid for 20 years. the stock market has to double again to get back to the old highs.

the dollar was a big story. the euro is at an 11-year low against the dollar. absolutely amazing. write about king dollar all the time. pro, con. what are you feeling? >> like anything, there's a balance here. the dollar has been climbing since june. >> eleven-year high, is that a balance? >> we have to go a long way to get back to where we were in the '90s and even further to get back to where we were in the '80s. estimates were coming down, a lot were the dollar. cost of goods go down, that's good. materials go down, that's good to the bottom line. it also keeps a lid on oil. oil is priced in dollars. that will benefit the consumer. there are pros. charles: i want to ask you, what do you think with the dollar, has it gone too far too fast? >> it's gone too far too fast. ultimately strong countries have strong currencies. long-term, it's a good thing the united states dollar is rallying this way. for the more near term, this is bad. the reason the dollar is soaring is because us equities have soared relative to the rest of the world. the last year, we absolutely crushed europe. c

today a dollar-based move rick santelli talking about the move lower in the dollar. of a pop here. also interesting to note i'm looking at december futures, 54.21ing come down from over $60. gives you a sense of what the market is thinking about pricing towards the end of the year. brent prishgs 5ce 55.11. up 69 cents today. what could cause volatility later baker hughes releases rig count numbers. wall street tens to focus on those, not the macro traders. but we could see the action to the downside potentially, as we head into the close. as we've seen when we get to the 2:00 mark in the afternoon, that's when the traders start to come out and square off positions especially on a friday as we're heading into the weekend. back over to you. >> thank you so much. a friend of mine points out crude's jumped on the past three option expirations. >> true. jackie does a great job. just on the biogen and all of those, be careful. i have been saying all week, don't -- when it cops to friday don't buy anymore. regeneron coming off, isis. people were earlier on these. don't -- i

the dollar is doing well.my looks weak from the weather in the first quarter i'll grant you that, but i think the economy is still decent and we need a corporate tax cut. >> and we're going to leave it right there. steve, thank you very much, sir. thanks for your patience. pun intended. more coming up with steve grasso on "fast money" at 5:00. they'll be asking the man raked number one in fx strategy jens nordvig what he thinks of the fed's decision. greg ip, thank you for joining us. much more continuing coverage after this. "closing bell" continues in two. female announcer: right now at sleep train get up to 48 months interest-free financing on tempur-pedic. save hundreds on beautyrest. or choose $300 in free gifts with stearns & foster. the triple choice sale ends soon at sleep train. >>> welcome back. we continue the conversation on the fed today and what's happening in the markets now and next. with us, dennis gartman of the gartman letter and jeff cox who was in that lock up at the fed for today's announ

and the euro, which everyone inks is a dollar, four dollars five dollars.ot of room that can take place and that leads me to think much more can occur. alix: how low can oil actually go? david b: if you listen to ed morris -- alix: i know. david b: $30. if you look out two years, you can see this, but in the meantime, you see an exceptional blood of oil. alix: you did mention europe. let's focus on that. the big focus on greece. athens looking for more bailout money from eu officials. all the while, prime minister alexis tsipras added to berlin to talk to angela merkel on monday. lisa, earlier today you were saying you have to watch the three-year yield. why is that so important right now? lisa: that is people's impression of the ability to finance the short-term debt right? whether they can survive this latest round of chest pounding. and today, there was a little bit of optimism. it's home seems to be softening a little bit. saying the past is behind us. alix: but -- but the german finance minister coming out and saying he does perhaps expect greece to ex

dollar coming back after its worst day in six years, the plunge in the dollar yesterday, a lot of people talking about a short covering rally in the euro. we are getting the stronger dollar trend reasserting itself here. and i wanted to mention copper -- the best day since february 3, a sixth week -- not the six-week high, but the best day in six or seven weeks for copper prices with a gain of 3.5%. alix: oil bear market in your face -- that's the quote from you. we will check back in later on in the show. all markets are digesting a world without a patient that. the dollar clawing its way back from its biggest slide since 2009. we see tremendous volatility in the currency markets, the stronger dollar hurting exports in the u.s. and weighing on inflation two things janet yellen acknowledged yesterday at her news conference. joining me to discuss it is the chief economist for bloomberg economics and the cio for merck investments. i was mentioning the call for 2600 on the s&p and you are totally shaking her head. >> i guess it grabs the headlines. a fed exit what that would achieve is at r

living just fine with it. >> larry kudlow, king dollar king dollar.djusted and you can't have flows of funds be so quick. but tonight i have mark fields on ceo of ford. >> yes. >> for think about it they've got big international business, can they compete against the countries devaluing their currency in front of our eyes? mark benioff will tell you growth trumps all. having a fantastic quarter in europe. the notion of social mobile cloud connectivity how to trump even the turmoil of the strong dollar. >> what's this mystery guest action? >> regina my executive producer will not tell me. >> she won't tell you. >> she will not tell me. special shout out to my sister nan, my nephew is here. i guess i'll see him on the 20th anniversary. >> stays in the shadows. brilliant. called the bottom november 2011 for the euro. let's see what he has to say in 2021, that's when i'll see him again. >> congratulations. >> thank you for making the anniversary so special. >> see you. >> it's a good choked up. >> "mad money" tonight, 6:00 p.m. more on the sell-off that w

you had reversals for the dollar against the canadian dollar, against the australian dollar, against the kiwi. you had changes in the dollar. things are shifting in the foreign exchange market. that has been one of the driving forces in all the capital markets and suddenly in the past five, six, seven days you can sense a change taking place. and i think you have to pay attention to that fact. no question. >> hey, dennis. bk. i'd like to talk about oil again. so, a lot of people are -- listen, i agree with you. i'm long commodities which is mostly oil. but let me take the other side. a lot of people running around with hair on fire saying the crude reserves web the crude storage is all going to be filled up. then all of a sudden they're going to plummet down to $20. how does that fit into your more bullish view on this? >> i was one of the arguers making that point. and we are, in fact, going to top off wti crude oil in cushing, oklahoma. we're going to top that off. we're going to top off the amount of crude oil in the gulf. and there is the possibility that you get to that point wh

euro-dollar on the day.term, we still expect data in the u.s. to stabilize after the weakness. we do see the offset hiking rates which combined with the persistence of politics -- policy easing should push the euro-dollar lower. jonathan: i want to talk about the euro-dollar. toward parity a couple of weeks ago and then we come back and now 110. do you still expect parity by the end of the year? a lot of people were slashing where do you stand now? valentin: we are seeing positioning all dollar long from your role buying on the back of investors finally realizing they qe may be working. it could improve more. inflation may stage a return. that is the broader picture that doesn't change. it is a funding currency. the dollar is still the best for you best currency money can buy energy 10 a give and that is the case and we expect over time for a rate hike by the fed, expected to comment in the third quarter this year. . the euro-dollar should draft a lower. jonathan: the speed seems to be the debate right now.

one dollar 29. look at how much it has lost. $1.20-one dollar$1.06.inst 31 major currencies only two writing against the euro. the danish krone and brazilian real. analysts thought the euro would finish the year by $1.18. by february, it was down to $1.10. now they are saying it will and $1.07. -- end at $1.07. you since the forecast will continue to be cut, leading to the question, how long before euro-dollar surety? -- parity? we have an underlying profit net income. 1.6 one billion euros. the underlying loss net loss 3.1 6 billion euros. according to bloomberg, a loss of 4.24. we had a net income of 2.09. eon is the entire german energy landscape come changing in response to an overhaul of the power industry. the energy shift is forcing it to close reactors. undermining our prices. decimating profitability. it was not even profitable last year on a net income basis. they have a big plan, which essentially means there's putting themselves up. hans nichols, we had a net loss. it is a tough time, isn't it? for energy giants like eo we will hear how to

dollar?cy if not all americans will fly to france or elsewhere to buy their watches and that's not what we want. we want american customer to be treated equally to any others and we want them to buy the watches at the same price of the europeans. why should europeans buy watches cheaper than the americans? >> it's a view echoed by a lot of other swiss companies now. do you see -- what do you see ahead for the swiss watch industry given all of this hype over smartwatchs, not just from apple but others and some of the economic headwinds you're dealing with with the swiss franc and the weakness in the economy that's causing? >> so i think with the swiss francs we would know how to cope. remember when i started 40 year ago one dollars and four swiss francs. today one dollar is less than one. we are still selling watches in america. so the strong swiss franc is something we have known since we are born. and it switzerland had the strong currency since world war ii that is something we know how to

up and then the dollar will weaken.een this a million times. >> what about these trades for the second half of the day? you have three hours. you have these fisher comments. people are going to still be talking about these bullard comments about the possibility of another tantrum in the market. >> toyota motors. toyota motors. that's the one i think you have to look at. money has come back into japanese mutual funds. >> josh brown. >> twitter had an impressive week last week. today it's following through. i think it takes up 50. >> still on it? >> yeah. >> joe mentioned toyota. i still like ford. i like what's coming out as we look forward and some of the activity that we saw this past week. i think this is a stock that's on the rise. >> all right. stocks near historic highs again going for the first back to back gains since february as we said, some three hours to go, and michael lewis is coming up on power lunch right now. >> good afternoon, everyone. welcome to a relatively special edition of power lunch. michael lew

dollar cutting into nike sales abrord. north america's biggest market but it does do most of its business overseas. futures orders is what everyone pays attention to with nike numbers. the company is expecting them to grow 2%. take out the impact of a stronger dollar and that number would have been 11%. driven by strength in north america, in europe japan, even double digits in china. the only sour spot in terms of the outlook was for merging markets. bottom line nike's underlying business is strong. it's been investing in new product launches and innovation. that's help cushion it from what's a major headache for corporate america, the stronger u.s. dollar. r "nightly business report," i'm sara eisen. >>> on wall street it was a reversal. stocks down after being higher today. dollar rose and oil prices dropped, weighing on energy shares and doughw components like exxon and chevron by the close. fell to 17,959. ninth triple digit move in the last 10 sessions. nasdaq moving higher gaining 9 points and s&p sank 10. first day

we've had a beautiful dollar. but the yang is coming in now the dark side of the dollar.is when we see the dollar rallying. we are seeing emerging markets under pressure. that causes commodity prices to fall. as the dollar rises, u.s. equities come down. we've seen the u.k. talking about problems with the weak euro. we have seen sweden have to cut rates and go into qe. the negative side of a further rise in the dollar means different asset choices. i would say if you are dollar bullish, your asset allocation is completely different. jonathan: we talked about the dollar bull run. i want to get back to the discussion about risk. you have greece playing out in the background. you see silly headlines today with things from schaeuble saying he expects to exit the single currency. we've seen these kind of reports before. if you get these kind of negative shocks in 2015 that is a safe haven. i'm going to the swiss, the dollar. david: absolutely. i will be munching humble pie for a long time. the yield could shift aggressively. i will be wrong. there are risks out there. that is

but what the agents promise, you will get $800 dollars for a month. even i will think of moving there to get a job. >> we visited a small tea shop and word spread that we were looking to talk to people who had worked on bases. it turned out this man serving tea himself had been recruited for a job in afghanistan - with supreme, a contractor that supplies food and fuel to nato. >> whether they made it to afghanistan or not, everyone here had a story about how they had been cheated. this man, nagaraj, paid three thousand dollars to an agent for a job as a cook in afghanistan. but when he arrived at the base, he was told he would be working as a waiter for a much lower salary. >> at bagram, the largest us base in afghanistan, nagaraj worked for ecolog, the same company that ravi had told us about. ecolog is one of the most prominent subcontractors in afghanistan, working on both fluor and dyncorp contracts. >> it's completely controlled on fear, the fear of losing the job and the fear of losing the job is because they are in debt back home. losing your j

dollars. thanks to the collapse in oil prices, they cannot get rid of loans even after cutting prices. target is making news. they are setting up a $10 million fund to settle class-action lawsuits over the hack. in sports, i hope you have turned your bracket in. rock chalk jayhawks. last night at the last to play in games, dayton beat boise state and robert morris b north florida -- beat north florida. yes, i have kansas going all the way. tom: eric knows less than i do. in our morning meeting. robert morris beat north carolina. olivia: i choose my team based on the initials. tom: we will have fun with it. we have a special announcement on bloomberg television. let me do a data check. post fed. all the debris on the euro. we are giving back the movement we saw yesterday. oil is front and center in this hour of "bloomberg surveillance ." on to the second screen. the two year yield. we go right down to 0.58. enough said about janet yellen. the curve flattens. some maneuvering after janet yellen

." ♪ i need the dollar dollar is what i need ♪ >> welcome to "the halftime show." taranova, josh brown, pete najarian, and adam parker. our game plan today, it looks like this. mouse trap, why? top media analyst rich greenfield downgraded disney today. we're going to hear from him live and debate that call. spanning the global, our chief international correspondent michelle caruso-cabrera on greece, russia, and the stories that matter most to your money. we begin with a new week for stocks, and the focus still on two key areas of this market. crude collapse. all this just ahead of the fed's two-day meeting and a call by one big firm to focus on the u.s., at least when it comes to where companies get the bulk of their revenues. let's begin the debate on the desk. why is the market up today by 200 points? >> last week i said on the show that oil is either going to take the s&p lower or the financials are going to take the s&p higher. the s&p is going higher and it's going higher on health care. it's going higher on consumer names. and it is going to a certain extent

let's get to the dollar.rip higher because fed -- the fed was going to move ahead with raising interest rates. a lot of people headed into the fomc meeting with a net long position. that was not to be the case. the fed change the game last week. jerry allen -- chair yellen said they are not impatient with raising interest rates. you are seeing the dollar extend. last week's losses are now off by 0.9%. betty: the dollar, we really have been seeing scarlet -- scarlet: last week, it gave oil a big boost. today, the rig a liddy much oil domestically is dragging -- the reality of too much oil domestically is dragging the dollar down. saudi arabia's oil minister said they are close to pumping 10 million barrels of oil per day. it is a basic supply and demand issue. oil prices continue to stay at their 40 a dollar level. -- $48 level. betty: scarlet fu, thank you very much. a string of political developments have aggravated relations between president obama and in israeli prime minister benjamin netanyahu. it began

dollar. we have somebody that says it's a clear long because there's plenty of upside to the tune of 20 plus% to the upside. >> another huge move. >> fast money starts right now. i'm melissa lee. stocks across the board getting pressured over fears of a potential fed rate hike and strengthening u.s. dollar. we are bringing back raoul pal. he told us the rally was just beginning and financials taking a big hit today but tomorrow stress test results could provide a boost for the banks. and a change at google. the company just announcing it's cfo is retiring. we'll tell you what it could mean for the tech giant. we start off with a broad sell off today. not just stocks. oil also getting hit hard on the back of the strong dollar. pete, the s&p and nasdaq closing at session lows. >> they absolutely dumped in the last 15 minutes of the trading day. obviously the strong dollar, how it's going to effect the mul multinationals. we started to push to the downside and financials started to lose what the

dollar. we did see it post the worst day since march of 2009. in response emerging markets rallied and you have to take a look at the euro dollar trade but very interested in yesterday's trade. the euro gaining ground against the dollar but a reverse in today's trade. the euro at 1.6. we had 110 against the u.s. dollar. so janet yellen what she had to say, major implications not just for equity prices but the currency market as well. >> we'll be discussing that later in the show. we saw a yield compression across the border at the 30 year yield from 2.52% so we had more compression on that yield overnight but we did see more at the short end as one would expect of course given the nature of interest rates that janet yellen was talking about it did fall to 1.96 but i would temper the moves given that janet yellen last spoke late february. we saw yields move on the ten year below 2% to 1.9% and quickly back up to 2.1 again when the data continued to come out and i wonder whether these moves we'

dollar. >> a stronger dollar could prove a substantial headwind for some tech companies. according to analysts at amore. for example, they point out oracle took a 6% hit to revenues because of a stronger dollar in its most recent quarter. they estimate a 9% impact in its may quarter. of course tech still has its fans. they point to expected earnings growth and attractive valuation. >> earnings are expected to rise in 2015 at a 5% clip versus the 0.4% pace expected for the s&p 500. also, the price-to-earnings ratio is less for technology at 16.2%, versus more than 17% for the s&p 500. >> tech investors might have a better sense of where the dollar heads from here on friday morning when the jobs report hits. dollar bulls say that report if it's strong enough could provide more fuel for a rising for "nightly business report," i'm josh lipton in silicon >>> coming up the silver lining for consumers as some retailers continue to feel the pain from the backlog at west coast >>> here's a look at what to watch tomorrow. the s&p home price indegs will be released before the bell.

the dollar is at 12 year high.constantly trying to find something to grab onto and they have been unsuccessful. whether it is china, in switzerland india, or even the apple iwatch. betty: if you're a diehard believer in gold you're still going to continue that. inflation has not reared its head, but it will. barry: we were warned that qe was going to cause all sorts of rollins, and none of these things have occurred yet. so at a certain point i always warn investors to be aware of a great story. to beware of the data. 20%. reserves in gold, that was voted down by the swiss. the last one was the apple iwatch is going to consume so much gold it is going to take a third of the annual production and that obviously is nonsense. betty: there are some smart people in the hedge fund world who have invested in gold. i have gotten out as of late but there are people figured it out and that that we think that gold is going to rise. is there any compelling case to be in gold? can you think of one? barry: there are smart people

dollar.he dollar has been taking off relative to other countries because we are strong -- if we start raising interest rates that will exacerbate the problem. betty: a good point. someone who might have a different take on this is bill gross who doesn't think the wage pressures are enough to justify any kind of rate increase. >> i don't think a jobs report like this with a wage gain of .1%, i don't think that threatens inflation. it is par under what the fed needs. >> i could not agree more. i think he has it exactly right. it calls into question, why are so many people calling for the federal reserve board to raise interest rates now? there are many communities in this country that have not really experienced a robust recovery and won't unless we get the unemployment rate down to 4.5%. there is no reason we should stop or slow the recovery at all until we have seen some wages growing roughly double what they are now. you have to wonder why people are calling for raising interest rates. betty

dollar.x: would you be shorting the dollar, then? jens: we actually made changes to our recommendations over the number of emerging-market currencies. that is a big change for us, we had not had that kind of exposure in over one year. alix: let's talk about the flood of negative yields. $1.4 trillion debt carrying negative yield with germany one of the largest and unbelievable amount in negative yields with france there as well as the netherlands, look 2.1 dollar trillion all across europe, and unbelievable number. how long can this go on for? is this sustainable? jens: it is an extraordinary situation, but obviously an extraordinary situation that has happened in response to an economic model that is also really unprecedented. the risks of a couple of months ago forced them to buy bonds at these low levels, right? i think that lower yields will stay for a. of time. while the data is a bit better in the euro, it is not going to come sufficiently to make a big dent in the need for very easy mo

everything else, you look at quickly, 265 bid to cover. $2.65 of investor dollars chasing every dollar securities available. about equal to the 10 auction average. 58.6 on indirect. other than our last action that was a little higher indirect you have to go all the way back to christmas of 2011 to find a higher one, and we were a little bit weak on direct. 31.2% go to dealers. a-minus. we'll go back to mappedy ask tyler. >> i'm going to toss it to david faber with breaking news. david. >> thanks very much, tyler. you may have seen dom mention a number of stocks that are moving on the "wall street journal" story that we can now confirm. namely that endo pharmaceuticals has made an offer to acquire salix pharmaceuticals. my source is telling me that offer was made via e-mail with a letter attached about, let's call it an hour or so ago in which endo said it was willing to pay as much as $165 a share for salix. 25% of that consideration would come in the form of cash. the remainder would be in endo shares. those shares are actually up since this news again was first reported by the journa

dollar rallied.hat that negative correlation is going to continue to wither in the short term. the setup for gold is still very constructive. >> but to be clear, what are the levels you're talking about? it's not huge moves, is it? >> well, a move back up to the january highs, 1,300 or there abouts and right now we're trading 1170 or there or so. >> jeffrey told us in the beginning of the hour that it was all about currencies. that that is the lead right now. do you see that as a lead for stocks throughout 2015? in other words, the euro rebounds, stock rebounds. how close is that going to be? >> i think it's beginning to be a driver and certainly you can look at the differentials between large caps and small caps or the s&p and the russell 2000 where the russell has been outperforming the s&p for some time. but i also wouldn't lose sight of interest rates as well. the rebound in the euro or the pullback in the dollar has also transpired against the backdrop of u.s. treasury yields starting to roll ba

dollar exposure.f you look at the s&p 500 they have been notable underperformers over the last week. alix: bank of america had a note out this morning saying that continued u.s. dollar appreciation will knock off 20 basis points off the gdp by the end of the year. is that factored into the stock market? >> the market right now does not want to get comfortable with the idea that main street is the place to be. your firm has spoken about this as well. there is 86 million people in the millennial age and they are getting married in they will have kids and they will want a yard and they will want things create you have warren buffett saying if i could i would buy 200,000 residential homes and you have him beefing up his residential real estate is this buying auto dealers, etc. a house that has a yard and a car that fits a car seat. that has nothing to do with -- procter & gamble or intel selling things against the very strong currency. you want to be domestic and you want to be large and that is a narrow

how much is the dollar strength --is this dollar strength? jonathan: a lot of it. a lot of it has been dollar strength. how tolerant is the fed going to be of the stronger dollar? expectations for a hike they are getting closer and closer. will we get one in the summer? that is a big focus. francine: thank you so much. 1.20 is where it should be. parity will not hold. jonathan: that is not the french -- first french policymaker to make a call like that. francine: thank you so much. to greece and stillness sign that the country can reach a long-term agreement with creditors in sight. the great finance minister told local television -- greek finance minister told local television that the ecb is applying pressure to his government. he had strong words for germany's finance minister. let's go to berlin and hans nichols. what did he say about germany? are the comments getting attention? hans: they are getting a lot of attention. what he is essentially saying is that he does not have or at least the german people have lost trust in him or do not have it at all. here is

betty: the higher dollar.e just talked about how the higher dollars should be reducing import cost for many companies. it is not so far. but if it does, is it going to help alleviate some of the inflationary pressure and, possibly, the need again, not forecasting interest rates, but the need to tighten? guest: there's no question. guest:a stronger dollar tends to suppress general the mystic price level. the problem here is that we are not quite certain where the problem on the exchange rate comes from. whether it is a strong u.s. economy which is a questionable issue, or a week rest of the world which is a little more credible. remember -- the exchange rates of the global economy are a zero sum game. as the dollar goes up, someone else's going down. what we are seeing is a significant weakening obviously in the euro. we are seeing it in the ruble and seeing it in the yen. it is a very complex problem of international trade and international capital. it is not altogether clear that the u.s. can readily make maj

rob: the bond deal is the million-dollar dollar question.rybody expecting that exxon will use the proceeds to advance its position as one of the major shale plays in the midwest. these are the shale in north dakota. in order for them to expand they will have to buy an existing company that is publicly traded. betty: does it mean they will get a big discount? rob: there is an opportunity for them to wire one of them. they are going to have to find a quality producer. when you look at what they are going to have to pay, that is where there is a relevant. if you are a buyer in the oil price, you want to pay current prices. if you are a seller, the expectation is that they are going higher and you want to sell until oil gets into the 60's. betty: let's show some of the shale that might be unfelt. maybe some of those might be for sale? rob: i turn it to speculate which happening might be for sale in particular. what exxon will focus on is a large acreage locked in one of these poor places. all of them have large acreage blocks in one of these poo

dollar especially against euro.or their buck overseas right now. what if that changes, though? how can you get in on this action right now and lock in a lower price for that summer european trip? for more let's turn to president of airfarewatchdog.com. an issue that has been all the talk of this trading floor and of newsrooms and everything. for people who are a little worried that if they wait the euro might rebound, how do they lock in its price right here right now for a summer trip? >> well actually kelly, one interesting idea is to book your hotel on a site called tingo.com. because if the rate goes down the hotel rate goes down after you book tingo will automatically refund your money to your credit card. >> you just caught kenny's attention. >> what a great idea that is. >> how does that work for the company, though? i guess they're betting what everybody else is that the euro's going to keep going lower? >> well actually tingo works all around the world. any hotel. the same rates that are on hotels.com, for

dollar.e you guys looking for? >> yes we think the stronger dollar certainly is going to weigh on earnings from many different companies, and that strong dollar theme is likely to persist as we head throughout the year. we think the dollar will continue to strengthen at a 5% to 10% annualized clip for some time. that will pressure earnings. the other thing a lot of people aren't talking about, of course is that labor market tightness will ultimately lead to higher wage pressure. that, too, will be a drag on earnings. so there are two important headwinds right there for earnings, and layering on top of that, of course the idea that interest rates are going up so the discount rate that you apply to risky cash flows will also be going up. there are lots of headwinds for equities in the coming quarters. >> scott, i'm karachiing myscratching my head a little bit at what's happening in europe. since they started qe yields have continued to move lower and a lot of traders think they're going to keep

weak retail sales, but the euro versus dollar, stock market up, and the dollar, a 20 year chart, boy, the right side even the dollar index deserves a one daybreak. that's the move i don't think ends on a one-daybreak. back to you. >> thank you very much, rick santelli santelli. move from what's happening in bonds and currencies over to what's happening in the stock market. the dow, the nasdaq and s&p giving us a rally today, gain of 185 for the dow, off the highs, but nonetheless, a gain by the dow and nasdaq today would mean they both indexes avoid their first three day losing streak in nearly two monthings. let's get back to today's trading action bob is on the floor of the new york stock exchange and bertha is following the moves. what's changed? >> not a lot. rick is right. we have a 30 yield auction disappointment and bonds moving up. the story of the day, s&p 500, all action occurred in 20 minutes, a surprise to a lot of people. i agree with rick, dollar reversal reversal stocks are oversold as well. this reporting retail sales surprised everyone but everyone looked at the inter

we're short the australian dollar and new gleestled dollar against the us dollar.e like the indian rupee given the great reforms in india, we like it against the us dollar. liz: you're saying short the euro versus the us dollar. short the ruble against the us dollar. even against solid names such as new zealand, et cetera, to you. you're an equities guy. what do you feel isn't too overpriced right now? >> i think we're probably due for a countertrend correction in the dollar. it has gone up so swiftly and so violently really in just the last six, seven months alone. at the same time, i still think that directionally the dollar will work higher. primarily our central bank is on the divergent path with most of the other central banks around the world. while i think the us equity and fixed income market together will remain well-bid as foreign money will find its way into our shores. we're a high yielding market in aggregate. to eric's point, i only want to invest in a hedge basis to counter the dollar euro -- liz: we threw up two names that you like. mcdonald's and c