scarlet: joining us at this hour is always is joe weisenthal.ball environment continues to the vix just checking. swings like dish like we used to the very declining volatility in low volatility. we are seeing buyers. >> an interesting tussle at the top. >> it is very 2017 like. very weird. >> speaking of levitating, consumer durables and apparel leading the way up by that are 1.2% i should say fear big gainers here with media entertainment for disney reports earnings. >> keeping an eye on disney and folks streaming. on the downside, we talk about this all day. thanks on the lower side. the financials. >> it is a big part of the story. environment is just not there for people to bet on financials especially when tech continues to lead the way. when he lifted indexes, we're just coming off the session highs. we're still holding onto advances. a long way from where we started a couple of hours ago. >> a little of the highs that again, a nice quiet day of gains. >> we are moments away from the close. eight minutes to be exact. let's look at today's

joe: and i'm joe weisenthal. markets up significantly. 1.7% on the dow jones industrial average. joe: the question is, "what'd you miss?" trumpne: president declared a national emergency on the southern border in a bid to unlock more money to build his wall. the u.s. and china held trade talks as president trump floated the possibility of extending a tariff truce. cannabis competition. better-than-expected revenues and expected to have outsold competitors in canada. the ceo joins us ahead. president trump signed the congressional spending bill while declaring a national emergency. the president was not able to convince lawmakers to allocate $5.7 billion for a border wall, but the migration -- the declaration will free up about $8.3 billion. can you break down specifically what is in the bill congress approved? we know they are getting about $1.5 billion that would go for some of the border wall requests trump made. why do we still need a neck -- national declaration? >> there's just under $1.4 billion for border f

. >> i'm joe weisenthal. the question is what you miss. >> hot bonds.emand for corporate bonds to the highest level of the year this week. >> a dovish turned by the federal reserve is fueling a rally in junk bonds. leverage loans are still sagging. more on this i want to bring in the cio a family management corporation. let's start with a credit. jump funds doing well, leverage loans lagging. on or what are we seeing a credit markets? >> there is a portion of it that is risk on. you government environment in december when there was near record low issuance of high-yield bonds to january where risk on has exploded. it has nothing to do with fundamentals. it has been the rhetoric of the fed pivoting and of the market. in terms of underlying fundamentals, earnings are good. coverage ratios are strong. defaults on leverage loans are under 1.5%. >> talk about the default rates and coverage ratios and the ability of these companies to cover the massive debt load that i have. >> that is a great point and something that is asked frequently. if you look at the l

joe: and i'm joe weisenthal. caroline: here's how we finished the day. e s&p 500 could not break through the 2800 point. joe: the question is, "what'd you miss?" caroline: elon musk is facing a new round of regulatory troubles from tweets. they want on capitol hill, fed chair powell is doubling down on negative development that allows the fed to remain patient for now. president trump lands in hanoi for his second meeting with kim jong-un. the two leaders remain far apart on issues including the meaning on denuclearization. ww, formally known as weight watchers, reporting earnings and give a fiscal your outlook that came in well below estimates. eps was expected at 125 -- $1.25 to one dollar 50 since per share and analyst estimates were averaging about three dollars and 36 -- $3.36. the shares are halted and the company did not provide a next nation for whites forecast came in so low. their conference call starts in an hour. they're confident the new strategy will work, being more about holistic health and not dropping the pounds. romaine: this has been o

taylor: joe weisenthal is off today. caroline: u.s. stocks managed to maintain gains -- gains.ints from fed speak and fomc minutes. more signs the central bank is causing. bernie sanders announced his presidential bid while elizabeth warren proposed universal childcare funded by a wealth act. the u.s. is asking china to keep the value of the yuan stable. romaine: the fed has a new mantra, patience. take a listen. >> the common sense risk management suggests patiently awaiting greater clarity, and approach that served policymakers well in the past. >> the approach we need is one of prudence, patience, and good judgment. >> we would be well served if we paused and were patient for some number of months. january's minutes are out tomorrow and we will see how patience is influence the central bank's thinking. our u.s. economist for bloomberg economics joins us now. really going to be a blockbuster day where we learn something we have not heard already from powell one of the other members? yelena: we heard a lot from them since the december meeting when -- since the december meeting

joe: i'm joe weisenthal. caroline: here's what happened to u.s. stocks, not much. e: the question is "what'd you miss?" caroline: business investment. it may be too soon to give it a clean bill of health. we talk with kevin hassett. from handshake to empty-handed, president trump gets bipartisan praise for walking out on kim while north korea disputes the president's account of the summit in hanoi. decision day. offshore investors loaded up on china shares. romaine: a quick recap of some of the earnings we have out here. nordstrom, the department store, arriving after hours here. their eps is coming in above estimates and it's saying for fiscal year -- the full fiscal year, net sales will grow about one to 2%. the cloud computing company and they are also beating estimates and giving guidance for 2020. subscription revenue of .03 to 3.0 4 billion. caroline: we have gap coming out and there will be two independent publicly traded companies. they say old navy is to become a standalone company. this is interesting as gap continues to struggle in the retail world. the f

regulation and making the economy work for everyone, and she sat down wednesday with bloomberg's joe weisenthal believe in capitalism. i see the wealth that can be produced. but let's be really clear -- capitalism without rules is theft. encouraging companies to build their business models on cheating people, that's not capitalism, that's not competition in the marketplace, that's not producing consumer surplus. what i believe is capitalism with serious rules. that means rules where everybody gets a chance to play. >> speaking of rules, one of the criticisms of the wealth tax is that it would be really hard to enforce. people have ways to hide how much wealth they have. it is difficult to measure. they could move it internationally. how much would a successful implementation of a wealth check -- wealth tax essentially require local cooperation, so that people can't easily shuffle assets? >> let's start with the fact that the way this is written -- your wealth wherever held. moving it to one of the islands, moving into switzerland, that's not going to get you out from underneath the tax. there i

lisa: i'm lisa abramowicz, joe weisenthal is all today. caroline: u.s.cks closed up today amid the fomc minutes. romaine: the question is "what'd you miss?" caroline: the fed is ending the runoff of the central bank balance sheet while expressing uncertainty over raising interest rates in 2019. brokering a brexit deal. theresa may's efforts to seek changes could force her to fire some of her own ministers. this as the u.k. aa rating may be cut. banks behaving badly. billion ino pay $5.1 the case. deutsche bank is set to extend trump loans because of risk of default. we're looking at the minutes from the fomc january meeting. they shed some light on the dovish tone. runoffvored ending the of their balance sheet, but expressed uncertainty on whether they would raise rates again. let's bring in the head of u.s. strategy at bank of america merrill lynch. what was the number one takeaway for you from these meeting minutes? mark: i think the most important take away was the signaling they had about the balance sheet. most think it's appropriate to end the bala

joe: and i am joe weisenthal. what a jew miss? >> buybacks backlash.ter dot marco rubio announces he will introduce a bill to tax dime backs on equal footing with dividends. it takes some steam from the week's rally. caroline: then president trump is looki to grudgingly sign a mortar deal. and a weak link in the global economy. industrial production across the eurozone fell at the fastest pace since the financial crisis. ♪ romaine: a quick update on earnings, fossil group is the watch handbag and jury maker, their comp sales for the fourth quarter came in at -7%, below estimates, and earnings per share for the fourth quarter coming in at $.94 a share. the estimate was for $1.21 a share, so we are seeing shares move a bit lower on that, caroline. caroline: now, wait and see in washington. president trump is edging towards approving the border security negotiated by congress. .ut begrudgingly we bring in bloomberg government reporter from capitol hill. it looks like we could get a certainly, thet white house could still antagonize congress somewhat by ma

joe: and i'm joe weisenthal. caroline: let's gaze straight to the earnings recap we see.e're looking at the laggards. squares up by 6%. this is in the company -- this is a company that ramped up since december. the numbers are not quite hitting the mark. 28% growth in overall revenue volumes we saw. the market wanted 29%. they're forecasting fourth-quarter -- fourth-quarter -- first quarter estimates that missed. they're not quite delivering. it seems their 2019 adjusted earnings outlook is below the --k -- actually, i have vote actually, i head of expectations. romaine: a lot of growth over the past few quarters was because there was not a lot of competition, but now everyone is trying to get on the -- in on this game. caroline: especially when you get the cloud area and fitbit is falling. another one that has ramped up more than 50% since december. we have to remember where we have come from. this is such a darling of the hedge fund. it is amazing to see this drop. i want to turn to another company we are looking at in the apparel state. ownsnd, the company that the tor

scarlet: joining us at this hour as always is joe weisenthal, but in houston. joe: hi.re you doing? scarlet: good. how are you? joe: good. scarlet: you would think the overseas gains would have inspired stocks to continue building on those advances. joe: yes, it is surprising. i feel like every day last week we talked about the sort of so-so returns for the market. nothing too special. waiting for volatility to accelerate in one direction or the other. it seemed like we were going to pick up today because we did see a sea of green overseas but not carrying over in any meaningful way to the u.s. just sort of mediocre. another quiet day for u.s. stocks. not that carry over like you would have guessed. scarlet: a really mixed bag when i look at the industry sector. transportation leading the way, up a quarter of 1%. again back. caroline: oil falling today. lot.et: but not by a whole not like anything is really moving with a lot of conviction. media entertainment, you have keeping a close eye. ea, which has been the outperforming, the best performer on the s&p 500 at one po

joining us at this hour is joe weisenthal. the week on a strong note and now we are peering out at the end of the week. joe: not a great close to the week. much moren down earlier in the day, so it is a bit of a bounce. it has been all week, it is felt like there hasn't been a ton of market news. lisa: even on earnings. everybody is talking about jeff bezos. what have i been watching -- i don't know, jeff bezos. [laughter] lisa: i think when china closes, we don't know what to talk about because evidently, they drive a lot of action. joe: has been the the key question, what will happen? we are trying to get some traction on the growth efforts, so we get a week off from the question. scarlet: and sometimes, they might announce some stimulus measures before the break, but there has been a radio silence out of china. may be that plays into it as well. when we look at industry groups in the s&p 500, there are a lot more gainers to speak of. households and personal products leading the way. we have former names and -- farmer names,

scarlet: joining us at this hour as always is joe weisenthal, who is so excited about these slew of dataday. prettys, all looking good. the jobs report was weird because there was a bunch of surprising numbers, but better than expected. the pace of hiring has not decelerated. another also good. picking up better-than-expected that's better than expected -- better than expected. michigan consumer sentiment beating expectations. if you are that bad and you just cause, you have to like this -- sed, you have to like this data. you did not get what would force you into a backtrack. it might explain why january was so good. caroline: and it really makes me feel the divergence trade may stockpile again. when you look at the divergence in chinese manufacturing, when you look at the data out of europe. joe: the u.s. is kind of a closed economy. there is only so much degree to which we are intertwined with the rest of the world's cycle. i feel like the data right now and last year kind of indicates that you. -- view. scarlet: we will see if there is divergence 2.0. energy leads the way, up 1.7%. o

i liked a tweet from joe weisenthal.esident trump possibly has a future as a wall street strategist with these mixed messages. tell us what he's been saying. >> i think if you look back, you can probably divine that president trump once a deal. place,put that caveat in may be getting a signing ceremony underway, then saying it may not happen at all. everything we've heard has pointed to president trump's enthusiasm. he said there's been significant progress on a range of areas. it certainly seems like he wants to move forward on this. we've had more cautious words from the chinese, who have said that as these negotiations progress, things could become more difficult. you are of timing, probably looking towards the end of march. we've got the annual parliamentary event next week. if we get a deal and a signing ceremony, it is probably towards the end of march. you've got lawmakers in washington saying, we want to have a look at any deal before it is signed off. to what extent does this ease the pressure on beijing? how do