mary thompson joins me now with the one big takeaway from this report. mary there was a lot to dig through with this one. >> there was, but i think the take aiway focuses on the job cuts. the company is continuing to put a tight control on expenses. here's one of the reasons. american express has a growth target of 8%. this looks good but it was because of the gain of a sale with part ownership in. so investors looked at that. business with the total number of charges on their cards, they increase 6% in the fourth quarter but that was down from the growth rate we saw earlier, so if the company looks for new ways new initiatives to boost revenue, they're keeping a tight control on spending as they have been for a while. so that 4,000 number is the key takeaway. >> key takeaway mary thompson thank you so much. >>> ebay announced with tonight's market focus. the company expects to slash 1% of its workforce and exploring a sale or public offering of its enterprise unit as it is prepared to spend off its paypal division later this year. entered with carl icon

mary thompson now with her one big takeaway on visa's numbers. >> reporter: well the key takeaway is that it's steady as she goes for visa. the payments giant reporting an 11% increase in profits for the quarter thanks to revenue growth in all three of its business segments. service, data and international. service is the revenue it collects from banks for putting their name on the card essentially. data the fee for processing transaction and international as the cross border transactions that it processes as well. all of these good results delivered despite the negative impacts of a stronger dollar. total processed transactions for the company in the quarter, up 10%. that was a little less than expected because cross borders transactions weren't quite as robust as analysts had expected. company confirmed for 2015 and said it's splitting stock for for one. for "nightly business report," i'm mary thompson in new york. >>> also reporting tonight, ecommerce giant amazon which saw a 15% jump in net sales last quarter and had to spend a bundle on amazon prime video streaming service. a hu

for "nightly business report," i'm mary thompson. >>> fellow dow component mcdonald's closed out a difficult year. the world's largest fast food chain missed wall street's earnings and revenue estimates and today, ceo don thompson warned business will continue to be weak in the first path of 2015 but also said the company is taking decisive action to regain momentum sales and market share. shares of mcdonald's finished the day lower by about 1.5%. >>> let's get to the markets now. ups one of the biggest drags on the stock today but existing home sales rose nearly 2.5% last month but that was a little shy of estimates. all in all today, the dow fell 141 points. the nasdaq was the standout. it gained 7.5%. s&p 500 down more than 11 points bu posted first weekly gain of the year. whoo-hoo! the nasdaq the big winner rising more than 2.5%. >>> as for oil, attention today was squarely on saudi arabia the world's largest exporter of petroleum and what effect the death of sau de king ab dull la had. it was a volatile section for prices with west texas intermediate higher in the day only to turn arou

mary thompson has more. >> reporter: the party is over. now it's back to work. for ceos like dick costlo will need to work fast. >> it's popular and an element of pressure but to execute through the year i think it will be status quo in terms of management. >> reporter: costlo and several ceos need to recharge their company. twitter stock fell 4% last year giving costlo to hold on to key managers. his strategy for the new year strengthen twitter's core audience make the service easier to useond gin up new services to attract new users. mcdonald's unveiled a new menu this month part of ceo don thompson's plan to jump start the sales in the u.s. monthly sales a key barometer, won't take long to know if this is the right recipe for a turnaround. yahoo stock up over 20% in the past year but more to do with the company's multibillion dollar stake and the chinese internet giant, ali ba meyers' leadership. >> i think the problem is she has too much money and has to spend some. the investors will say, just give us the cash. >> reporter: myer plans to give half of the pr

. >> we're going to talk ibm with herb greenburg later on and mary thompson. but first straight over to bertha coombs with the nasdaq. how's it looking there? >> again, we saw the same situation there. we started off positive off the gate. the big caps are weak. apple of course which is partnering with ibm in the enterprise space these days that doesn't seem to be exciting anyone. certainly on apple's part. you had fred wilson the investor saying he doesn't think the iwatch is going to be that big a deal. i don't think so either. there's a lot of competition in wearables that will take awhile to sort itself out. it really is the russell 2000 and the small cap who is are the worst performers here in the day. they were the worst performers last year laggards. and they're laggards again today. even though we did see a move in recovery up in highs. what's bucking the trend today interestingly enough are the energy names. we had some what looked to be on the face of it bad news coming from linn energy. also slicing dividend as well. because of the problems with fal

and "fast money" trader steve grasso who will join us shortly off the floor and our own mary thompsonry we want to start with you. tell bus this pressure on stocks that materialized right into the close. >> that's right. you know i think art cashin did a good explanation of it. we had a pop in the price of oil and when some traders figured out it was short selling, the markets turned south again. traders also telling me there's a lot of lack of conviction from some of the bigger traders and that's been one of the reasons we've seen so much volatility for this month. as it stands at the close with the dow finishing at its worst levels of the day, we have back-to-back declines for all back-to-back monthly declines for all three of the major indices in the month of january. one month for the dow jones industrial average, its worst monthly performance since january of last year. same for the s&p 500, a dismal month for that index as well. let's look at a preliminary shot of how these indices finished the month. again, the markets are still settling but a 3% decline for the s&p 500. the na

. >> cnbc's mary thompson joins me now. all right, mary, what is going on with the dow? >> well there are a couple of things. first of all, those falling energy prices that were mentioned. the energy sector is the leading decliner here or among the s&p groups we follow. oil prices dropping below $50 a barrel just recently. now, that's not necessarily a bad thing. gasoline prices are right now on average at their lowest level since 2009. there are a couple other factors at play today. first of all, you have growing concerns about the eurozone and specifically whether or not greece will leave the eurozone and if this would eventually lead to the breakup. so, that's another factor in today's decline. and keep in mind we just want to caution your viewers. remember, the markets were at record levels right before the christmas holiday and the week following. so a selloff today, while it is significant, 300 points for the dow, this is the first four-day losing streak for the s&p 500 in over a year. we are still coming off record levels. so some kind of consolidation like this i

mary thompson, thank you very much. certainly 24 hours ago was a much better time for microsoft shareholders as well. let's get to bertha coombs with probably the stock story of the day. >> it really is. it's bringing everything down. apple is up as well. big cap tech. just nothing to say about it, but take a look at biotechs. investors, as they're looking in this down grab going to some of the ooshl suspects, and bidding them up. the biotechs are turning around. pfizer had very good comments. that has a lot of big biotech drugmakers today getting love. also, some of the usual suspects as far as momentum. netflix, of course, lots of folks at home streaming with the weather. take a look at gopro. tesla. some of the names today also enticing investors. back to you. >> i don't recalling what to say about it, rick. >> it is obviously not a high yield, and it doesn't look like it's going to be going a lot higher any time soon. considering how significant 171 is, it's the current 20 month low closing yield. we've had many han

we want to turn your attention and get some comments on the story that mary thompson has been reportinganization index funds versus stock picking in 2014 a great year for the index fund. vanguard breaking record inflows bringing in $216 billion. a mind boggling amount, mary. >> and if you look at the casing a difference versus passive, it's a case of investors not getting what they paid for. you don't get much for the additional 50 waivesbasis points. preliminary data shows almost # 80% of the active mutual funds underperformed their benchmarks. this is also a sharp increase from 2013 when over 54% of these funds yupd performed their befblg mark. maybe you can attribute this through a couple of bad years for managers. long term performance suggests those years can easily turn into decades. over three, five and ten year period more than 70% of actively managed domestic equity funds consistently underperform their benchmarks. makes a strong argument for passive or index investing. and it appears they are taking note with a peak of withdrawals in 2010 when they hit about $174 billion. all

mary thompson at the nyse with more details on that. hey. >> hey there, sue. stronger dollar and giving lift to some of the crude prices and energy stocks improving. that along with strength and utilities helping the dow to trim where the broader markets trim their losses today. nevertheless, the big theme out of all the earnings that were issued today the strong dollar impact and concerns about the impact of lower oil prices. let's sfoex on the companies that were impacted by the dollar. first of all, we're going to start with dupont. the company is buying back $4 billion worth of its stocks, and it's being overshadowed by the company expecting earnings being cut by 60 cents a share for 2015. united technologies reported after the bell yesterday. taking down its 2015 outlook for the second time in a month because of the stronger dollar. its stock off 7%. the company that's impacting the dow, the s&p, and the nasdaq today, of course, is microsoft, and a whole host of issues hitting the software giant. we saw a slowing growth in commercial sales for the company

mary thompson has broken down the numbers. >> it's a messy fourth quarter for morgan stanley marked by number of charges that have increased its legal reserve. it took a hit from underwriting revenue, and a weak trading environment in fixed income and commodities. the ceo james corman on the call. >> it's a difficult market and trading environment. especially in october and the last few weeks of december. as trading business is in particular fixed income and commodity sales in trading would clearly not be immune to the unfavorable market environment. in other news pressuring the box. also saying on the call the firm does remain committed to selling its physical commodities business. part of its plan to reduce risk weighted assets after the unit sales. >>> gorman also updating plans to get the firm's return on measurability from 8% this year to 10% while declining to specify a date for achieve this goal, gorman promising this is not a five-year target. cutting the investment bank's ratio from 39% to 40%, and targeting lower pay ratios in wealth and investment management. second, also re

mary thompson great to see you. scott?ck with the closing countdown after this short break. and after the break, earnings from amazon google visa biogen, we'll have the numbers and the instant analysis. you're watching cnbc, first in business worldwide. r nothing. the quietest or nothing. the sleekest... ...sexiest ...baddest ...safest, ...tightest, ...quickest... ...harshest... ...or nothing. at mercedes-benz, we do things one way or we don't do them at all. introducing the all-new c-class. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. you just got a big bump in miles. so this is a great opportunity for an upgrade. sound good? great. because you're not you you're a whole airline... and it's not a ticket you're upgradi

. >> welcome to the earnings squad, tim and cnbc's mary thompson. 15% of the s&p 500 firms reported so74% above estimate, 7% met estimates, 20% fell below estimates, we talked about ge, so, mary, what are we looking for at this time? >> get the numbers, 55 cents up from last year, but i have a feeling people will not be concerned about what the company reports in the fourth quarter. they had an analyst day in december giving guidance. what people look for is what's happening with the oil and gas business, and at that point, the company said, with oil around $65 a share, we are looking for profits to be flat to down 5%. of course, oil's dropped since then. looking for the update on that. there's concerns on the stronger dollar, a head wind, they get 53% of the revenue outside the united states. they might -- i think there's some question as to whether or not ge gives any indication that they sell the rest of the stake in the consumer finance business before 2016. it's a possibility. they want them to model the sale in 2016, but if they get it done sooner, they might do it. >> 17% of the

mary thompson.'s get to dominik for a market flat. >> mandy brian, we're watching shares of gilead. aetna says it's negotiated a discount with the biotech company for its hepatitis c treatment and will offer it as a preferred choice for its 20 million commercial customers. gilead up 2.5% on the day's trade. back to you. >> thank you very much. >>> once the canary in the coal mine, bank earnings not so hot. what can we expect for the rest of the earnings season? joining us now mark, chief investment strategist with janny montgomery. do earnings in this environment even matter? >> well, i still think that they do. obviously we want to hear about what had happened, but that's all rearview mirror. we also want to hear what management has to say about conditions going forward, and i would be less concerned about what we hear about domestically because there the picture is pretty sturdy and brightening. i want to hear more about what multinationals will be saying, and a lot of hem are in the cue as to wha

back to you. >> mary thompson with a relatively busy trading day despite a quiet day on the floor.hanks. >>> the other major story we're watching this morning is the storm now passing through new england. here's a live shot of snow blanketed hartford, connecticut. barely anyone moving out and about on the roads. the worst blizzard, worst of the blizzard, missing new york but the city was hit where it hurts one of the biggest arteries of business with mayor bill de blasio warning new yorkers they could not rely on ordering stakeout not on the -- takeout, not on the phone or app or otherwise. here's what de blasio had to say. >> food delivery bicycle is not an emergency vehicle. no. the -- if you are part of the city government, if you are a first responder, if you are an essential public servant those are the kind of people allowed on the streets. nothing will come to that in a moment, nothing that has to do with leisure or convenience or takeout food or going to movies, we were's not doing that. >> matt maloney the ceo of grub hub which owns seamless. the comments had consumers up

mary thompson looks at which ones may be on the hot seat. mary?eral put to work strategies to reinvigorate the brands and hopefully quiet the critics. we want to start with twitter's dick costolo. dogged by the inability to keep key managers at twitter. he is banking on a plan calling for strengthening the core audience making it easier to use and introducing new services to attract new users. all of this to hope to reverse the 47% decline in 2014. a new year will bring a new menu for mcdonald's. part of ceo don thompson's recipe for sales growth in the u.s. and the biggest market. in a lot of ways he's under the most pressure because any results from this new menu is quickly eminent in the stock revenue. yahoo! is up but critics don't care and credit it to the stake in alibaba not ceo marissa mayer's perform. the question is what will she do with the money and then revive the ad business which accounts for about 40% of its revenue. now, coke stock delivered flat returns on flat sales and weak profits in 2014. so muhtar kent is looking to add fizz

mary thompson will pull it all together for us. she's down on the floor of the new york stock exchange. hi, mary. >> hi sue. it's kind of a tall order. it's been a rather weird day of trading. i think a lot of people would concur with that. one thing you were pointing out, a gain in crude, usually the markets move in tan dem. that's not the case today. there was disappointing data on the third quarter gdp and disappointing price data and that's contributed what we've seen as a very choppy session. let's take a look at a couple of dow components. nasdaq was higher earlier, but some of the weakness in the big cap, tech stocks and the gaenz we're seeing in the -- visa as you mentioned earlier, gained about 100 points to the dow. of course, i guess we could put it another way. the dow would be down 208 points. if it wasn't for visa's gain there. the company came out with better than expected results. reaffirmed its full-year outlook despite the headwind space the currency faces and lower gasoline prices. one of the reasons it could conf

nasdaq trading up about three points. >> thanks mary thompson. santelli in chicago. >> an interday of tens tells you a good chunk of this story. at least on the surface it doesn't seem excited about this morning's data. i'm sure since wages is the linchpins to much of the activity in the fed, two-day maybe represents it more. yesterday's change 197 to 203. the fact we couldn't get above or challenge yesterday's high yield caused many on this trading floor to start buying a bit. maybe the whole key today is about the yield curve. the flattening yield curve has in many ways believed that 2015 would be the year we see an end to zero interest rate policy. most believe it's liquidation and does go hat in hand with what charlie evans said today and represented all along. why should we raise rates? that's going to be grappled in the market via spreads. tens twos fives or 30s, we added a lot of basis points. 10s to 2s is close to the flattest since the summer of '12. 5s to 30s is the flattest in seven year. bunds versus 10. 150 continues to be home base.

mary thompson back with us. mary, i guess a couple of questions. how much really are we saving in terms of lower gas, and more importantly, and this is a huge economic question, what are americans doing with those savings? >> the companies had answer on their calls, providing welcome insights on how consumers are spending their money. insights gleened from the receipts the companies have to consumer spending. charlie sharp pointing out there's been a 30% dedlin in fuel prices since june, which translates into a $60 a month savings for the average consumer. >> according to our surveys, approximately 50% of the savings consumers are seeing is being saved. 25% is being used to pay down debt. approximately 25% is being spent in other discretionary categories. >> now, sharp is saying they're spending that quarter of the savings on discretionary items like groceries, clothing, and eating out. eventually visa does see consumer spending more as savings build up, moving from smaller ticket to the bigger ticket items. this observation isn't krael to what a l

mary thompson?gallin marsh is former employee who stole and posted information evidently, about 900 wealth management clients of morgan stanley on the internet. that information quickly taken down. morgan stanley said after it was discovered december 27th and mr. marsh employed at morgan stanley according to his linkedin profile 11 years and 7 months and he worked at bear stearns prior to that. >> we are back with the panel and cnbc market all-stars for more. rick santelli bertha coombs and bob pisani. bertha bertha, we may understand why and what's happening throughout? what did you see at the nasdaq? >> you saw tech under pressure. chips were a boozebig losers. a lot of banking sectors with exposure in texas like texas bank shares hit hard today and where people continued to sell. interesting thing i found was what was working even as we were selling off at the end of the year was working again today. biotechs managed to eke out a gain in terms of the arc of bio it is tech index and biotechs are u

mary thompson. >> off our highs of the day.eeing a turnaround in tech fueled by the blockbuster numbers delivered by apple. and that's giving a nice lift to the nasdaq up 42 points. quick check of the sectors. tech leading today. energy pulling back. one of better performing sectors, along with utility, lower because of oil prices pulling back a stronger dollar at play there. the dollar weaker yesterday on a turnaround in the euro. but it's resumed its gains today. and that's keeping pressure on oil prices and, in turn oil stocks. materials under pressure, as well in today's session. let's take a quick look at the big tech names. of course apple, after reporting record quarterly results, cisco systems and intel, two companies weaker following the lead of apple. watching facebook this company reports after the close of trading today. supplier check for apple, the companies that supply apple, to make its iphone and other products. western digital, results that were in line with expectations getting a nice lift up over 5% in today

let's go to mary thompson live on the floor of the new york stock exchange. mary. >> hey there, melissa. rick is going to tell us about this later, but there's an interesting move from the ten-year. the yield initially kicking up after the sfaimt statement from the fed, but it's recently unmoved. very close to session lows. iffen at them at 1.755. in the equity markets, what we saw is a bounce to the -- in the dow up to about 90 points as investors expect that the fed will maintain this fractionan gains are lower than -- the index lower than it was before the fed decision. holding on to a 20-point gain. initially it looked like a positive for the stock markets, but it's given up the gains in light of that, and pretty of the much where it was before the fed decision. back to you. he reminds us that job gains were solid in december, and are now "strong." the economy was expanding at a moderate pace in december, but now it's a solid pace. you know, listen, the federal reserve may get a little more -- >> he is saying it's good. >> dovish on inflation, but let's no

mary thompson was glued to the set. we were talking off camera. he could do standup. he is that funny. he is quite charming. >> his answers are very thoughtful. it is always a good interview to listen to or watch. during his time on "squawk box" he brushed off concerns of early selloff we saw on wall street seeing long term outlook for markets especially here in the u.s. looks good. >> it is baked in to say you should moderate your higher expectations and we could very well have an off year. looking at the bigger picture we still are in a situation where the macrocontext has united states in particular at above trend growth and essentially zero interest rates. >> well known for worrying about what ifs. saying 49% decline in oil appears to be oversupply issue. the reaction suggests demand could be the problem signaling something worse on the horizon, deflation. >> i would keep firing because sustaining it is a lot more sure than losing it. >> got a little bit ahead of ourselves. he is talking about what the federal reserve should do. with oil he said he doesn't think d

meantime let's get more on the market reaction and head down the new york stock exchange because mary thompson steve was saying southeast negative moves we've been seeing in the market today can be tied to what was happening in france, what do traders say about that kind of reaction? >> reporter: it wasn't something i was hearing. they were focused pretty much squarely on the earnings numbers coming out of the jobs data. there was a lot of concern there. again, remember the market is looking for the federal reserve to raise interest rates and they are expecting, you know, to do so which wouldn't necessarily be a bad things for the markets if they left rates where they are for a while. there's concern that we are generating the kind of jobs that would generate better income for u.s. citizens. that was really the concern in the market. that and the pull back in oil. we've come off the worst levels of the day. we saw a move to the upside or markets come off the loss once the european markets closed some money coming over here and being put to work in the u.s.. also we saw oil come off the loss an

mary thompson joining was a look at some of them. >> on the hot seat and under a microscope. several of them implement strategies aimed at rinne re reinvigorating brands. --. introducing new services to attract new users, all to reverse the stock's decline in 20 2014. a new year and a new menu for mcdonald's. part of the strategy for stirring up sales growth. in a lot of ways he's under the most immediate pressure because any results from the new men good or bad will be quickly evident in the firms monthly figures. yahoo stoke up 128% in two years but not enough for critics who say it has more to do with the stake in alibaba than with ceo marissa mayer's leadership. the question is what does she do with the rest of the money and will she be able to revive the firm's ad business. and sales as well as week one for profits coke is planning to cut costs. and analysts wonder if it's enough to combat things. lastly jenmy rometty abandoned a target made by her processer, freeing her and ibm. with the focus on cloud computing, mobility and security for all their corporate clients. we

back to you. >> mary thompson thank you. seem to be disappointing week for banks all around.at s&p capital. happy friday not so happy friday as the case may be. >> happy friday. >> as it applies to goldman quarters rer of beating by 40 60 cents are the days of the blowout over? >> a well-managed company but the rules have changed and this company is the proxy of the capital markets of all large banks. if they don't execute in fixed income it's very lard to have exceptional performance. my concern, and why we have a whole recommendation, is that you can have volatility in fixed income product but was if you don't have high trading volume it's not going to help performance. and the first quarter coming up 2015, is the strongest quarter historically for goldman and others. and i think for those covering the company, you know less confidence as we see goldman's results today. >> yeah. so if trading is an issue there, and loan origination is a problem in other banks, and interest rates continue to dwindle, is there anything among the majors that you do like? >> well you know goldm

. >> the market down 163 points let's turn to mary thompson. the velocity of moves we've seen over this week has been very dramatic. >> things hold it will be five days in a row where we had a triple-digit move. what happened today markets much lower earlier today. they came off the lows after the european close. oil prices came off the lows. right around 1130. we're starting to drift lower. this is what traders are seeing. wage data out with the jobs reports which showed average hourly earnings is a decline, is a concern. are we heading in to a deflationary environment. they are watching oil. oil is off its lows of the session. earlier it was looking sketchy. some traders saying there's a lack of conviction. too many questions out there so no one wants to say we believe this will happen. they don't know it's happening with the ecb. they don't know when oil will bottom. they don't know when federal reserve will raise interest rates. this is contributing to a shaky start to the year for nashts. let's look at the leaders because again i want to f

mary thompson. >> to get the skilled workers they need. >> thank you very much. perspective on this area. the market sell-off is the hot topic and our website covered it from all angles. allen wastler is next with "the hot list." tune in "the closing bell" and we'll be joined by jim grant weighing in on whether or not the fed is getting it right with their current rate time line and whether 2015 is proving to be the year of stock picking. you won't want to miss it. >>> the dramatic moves in stocks had people clicking into cnbc.com for the whole hot list. let's check in with allen wastler. >> you know, when the market goes wild like it did today, people just pile in trying to figure out what happened? so those are the market goes wild people pile in trying to figure out what happened. p we have a wrap up of why commodities are taking a beat willing. basically we go through what is happening with oil, copper supply issues. and corn was a bumper crop soybeans, cotton others that have had great crops so they're getting hit, as well. so people loving that. and we also

an update on morgan stanley with mary thompson at headquarters. >> hey there, kelly.s concerns, of course, the information that was stolen data that was stolen from 900 wealth management clients. the firm declined comment. morgan stanley declined comment but a person familiar with the situation says that morgan stanley discovered the data was stolen on december 27th through a regular scan the firm conducts through suspicious websites. according to the source the firm's analysis suggests there were few hits on this information, which included, among other things, some of the clients' account numbers, telephone numbers, names, as well as states of residence. morgan stanley will provide these clients with new account numbers as well as credit monitoring services. the source says it took morgan stanley less than 24 hours to connect the stolen information with the former completion the employee who has been let go, and while they are not positive about motive, they suggest or sch suspect it possibly had to do with the employees desire to sell it to people who could have us

mary thompson. >> low of the session for the dow jones industrial average, of course disappointing earnings news disappointing data on durable goods, contributing to the sell-off that we're seeing here. vix ticking a bit higher. seeing strength as you might expect, strength in gold. also, oil is higher oil service stocks looking positive and we are seeing people move into treasuries as the yield on the ten year is moving higher. a couple of things traders are talking about the wake of today's earnings reports. they're wondering whether or not, well they say, basically expectations for earnings for the s&p 500 to high have to be brought down. that prompt strategists to readjust earnings? durable goods numbers, negative print, disappointing reading. btig noting poor orders a sign of business spending down for four straight months right now. out of the earnings hearing a couple of specific themes. first, the stronger dollar and the impact of that. the negative impact of lower oil prices and potentially positive impact of lower oil prices. let's take a look at the dow component. caterpillar, a

. >> thank you very much mary thompson. >> a slew of new laws take effect today across the united states. several hundreds in california. jane wells has some of the highlights. welcome to the program. >> in the uk is it the habit, every year do you have to have hundreds of new laws? is that a thing there? i'm curious. >> not really no. >> it's a thing here. california alone has over 900 new laws. the biggie illegal residents are lining up to apply for driver's licensees this morning. dmv hired 900 extra personnel to handle the estimated 1.1 million people who may come in over the next three years. the big winner insurance companies. insurance will be mandatory and perhaps eventually rates the rest of us pay for uninsured motors its will go down. large airports in california must provide breast pumping station. no confederate flags, no stars in bars can be sold unless part of educational or historical purposes. what state entity in california is selling confederate flags? it's against the law for websites to pay a fee to remove that ugly mug shot they got a hold of. students cannot be exp

. >> mary thompson on the floor, with the dow down 33. >> like a pep rally all morning here with allshake shack waiting for the first price. what we saw at open triple digit decline for the dow jones industrial average, dropping 121 points. weight on the markets early on disciplining data on fourth quarter gdp here in the u.s. we saw a decline in business equipment spending in the fourth quarter. also slowing exports which shouldn't be a surprise given the bump up that we've seen in the dollar or dollar strength. also, of course we have disciplining data from europe on consumer prices. both of those things a factor here. it's actually a mixed market because the nasdaq is showing strength in large part because of gains in the big cap tick. along with the response to the earnings, we're also keeping watch on oil. the markets have been correlated closely to the movements in oil. right now we are seeing a pick up in oil prices as the dollar has pulled back a bit. a couple of dow components. talking about visa earlier, splitting its stock, 4 for 1. last night the company said foreign exch

. >> mary thompson. >> big day for earnings. positive tone that we've seen from corporations helping the markets perform mixed today. we are seeing weakness in the nasdaq follow through from yesterday's decline. dow positive since the open s&p turned positive. good earnings news mostly from corporate america, at least those reporting today, helping to offset weakness in the european and asian markets coming in today's session. let's -- the markets benefiting from the good news from jobless claims falling to their lowest levels since 2000. housing data coming up. we're keeping an eye on energy. this is one that tends to move the markets. a little bit of weakness despite bounceback in crude oil prices today. discretionary and consumer spending watching these because a number of companies in both sectors reporting results. as i said the results have been fairly positive. utilities also higher in today's session. weaker performer in yesterday's session. quick check of the dow components. mcdonald's popping on the news it's going to

let's get to mary thompson, who's on the floor. >> we have a fairly temperate opening on wall street.busy week for earnings. one of the busiest weeks of the earnings season with the fed in focus with the two-day meeting. the market's reaction to the greek news, the elections. there was a lot of concern coming into today's session. seems to have moderated somewhat. what we see is the dow up 63 point. other than that it's pretty much a broad base decline. it's also a merger monday. let's take a look at a couple of companies that are combining their operations. these two companies are going to be forming a $16 billion packaging giant. this after meadwestvaco reported better than expected openings. axis capital and partnerre, as they come under a lot of pressure recently. the two companies will be one of the combined one of the five biggest reinsurers in the world and it's expected to save the companies about $200 million in combined costs. on the earnings front, we did have d.r. horton coming out with better than expected results. you can see it's up almost 5%. it tends to focus on the l

mary thompson, what is the mood on the floor? >> no support. were talking about for cryptocurrencies. no support for the markets. certainly the market's reaction was one of confusion. the markets or the dow now at its lowest levels of the day, down 184 points but i want to point out, of course what we've also seen is the decline in the yield on the ten-year and art cashin was pointing out earlier that if we drop below 1.78%, probably the next level of support there could be 1.61%. two things in the fed statement, of course. everyone has been talking about basically the acknowledgment of the international issues but also you have to focus on inflation falling below the long-term objective and what we saw, of course was a response in the oil markets with oil prices declining and in turn energy stocks dragging the markets lower as well. take a look at the s&p energy sector. weakest performer, big sell-off after the fed statement followed by materials as well. these groups have been under a little bit of pressure earlier, but they fell too. and, of

joining me we have david darst and mary thompson on the new york stock exchange floor where volatility the first full week of the year. >> it did. i was asking the reasons behind that to traders eni think a lot of it that said has to do with too many questions out there. there are a lot of questions as to when the federal reserve raising interest rates. how low will oil prices go and the markets follow oil as we have seen today. what will the ecb do with quantitative easing and this is a level of uncertainty that we have seen and in turn the volatility we have seen here at the beginning of the year. >> we had a guest earlier making the point, david, sort of in a voluntary kul until earnings come our way. >> yes. we are. retail sales next week as you know. consumer price index and philly fed and empire state. so you get a little bit of a look. the thing the market didn't like, all three things start with minus .2%. chinese consumer price inflation, down .2%. european consumer price inflation down and average hourly earnings that was the thing we hung our hat on last month, up .4 and dow

mary thompson, what are we expecting from these guys?echnologies, it will be the first call for the ceo. when he gave guidance that the company's earnings for 2015 would be hit by fx as well as pensions. he said at that time north america is good, europe is slowing, dhin is slowing as well. we look for added color. microsoft, this is a quarter about hardware. you tend to see strong hardware sales but they're also concerned about what was the revenue for their clous-based products and whether or not they're going to lose any revenue because they're giving away windows 10 for free to some people. >> we'll see what happens. thank you, mary very much. we're going out with the dow in the green. stay tuned. big earnings coming up plus the president of goldman sachs on the currency wars on the second hour of "the closing bell" with kelly evans. see you at happy hour, kel. >>> that is for sure. thank you, billing. welcome to "the closing bell," everybody. i'm kelly evans. we've hit 4:00 on wall street on this monday as the snowstorm bears down o

obviously mary thompson of those apple will have the biggest impact. >> without a doubt.s interesting to watch the stock. sold off a little bit coming into the close. the key is houp iphones did it sell into the quarter. >> do you like apple, jeremy hill? >> i don't like apple right now because i think there's a tremendous risk around the watch. i think we're hearing a little bit about some of perhaps the manufacturing problems they're having. this earnings season i think is all about how many new iphone 6 they sold. that's a given. >> better be allowed. >> if they have guidance at all vis-a-vis the watch, we start to see kind of coming out of silicon valley a little bit of chirping about a watch. i think we're going to see some price pressure. >> at&t -- >> at&t amgen, yahoo! is important because they want some indication of what they're going to do as far as tax strategies with selling their alibaba stake and at&t not expected to receive as much attention as the other two i'd say but the fed meeting concludes today and we're looking for a statement. >> oh by the way, ri

mary thompson is keeping an eye on what investors should be expecting. >> investors will be focused on key things. first, how does the firm plan to accelerate revenue growth to hit long-term target of 8% growth and second how will it spend the $700 million gain it's booking from the sell of its stake of concurran. revenue is seen deklainclineing in the year ago quarter. with the stock down over the last year, investors want to know if strong holiday online sales pumped up the firm's business in the fourth quarter and if net interest income got a lift from higher loan balances. also want to know if more expense cuts are coming as they look to drive bottom line growth given sluggish results on the top line. bill, back to you. >> all right, mary, thank you very much. the other report we're looking forward to is ebay. they will be reporting about the same time after the top of the hour. analysts are looking for 89 cents in terms of profitability on revenue of $4.9 billion. it's been a volatile year. this is a one-year chart of ebay. they were -- this is an all-time high early last year and