senior economist at bank of america merrill lynch.eather, how does the cold of this january play into what you and ethan harris do? complicates forecasting. i think in general it dampens economic activity. people are not out spending as much. manufacturers have supply chain issues. clearly construction will be hit by cold weather. here is what is complicated about forecasting jobs. you have to look at the survey week. the survey week for january was the one week of the month that was a little bit warmer than normal. amative to the december week a witch was cold, we expect to get a little bit of a stronger number friday. we are at 185 am close to consensus. >> there is a real mystery to all of this. >> there is a mystery to interpreting the data once it comes out. if you get an upward surprise, and that a weather refund or tell us something more fundamental about the economy? >> what about ism? pointto be the one everyone focuses on. is that the right way to measure how we are doing globally one country versus another? >> it is a good

also, keep in mind that the business that's coming from merrill lynch is lower margin business. and i asked the ceo when will that trend reverse. >> the drag was the temporarily result of the transfer in the banker. we are seeing in asia where the margins are picking up. 2014 very clear road map transferring the rest of the assets, increasing profitability on the existing assets and hopefully the whole organization is back to business mode 100% this year. >> that was the ceo of julius baer talking to me earlier. he's not concerned about the margin side of the business, but he was mum on one issue, and that's the solution of the u.s. tax investigation. analysts are forecasting a settlement north of 300 million dollars. the economy still hasn't said anything in terms of provisions that analysts are expecting, but this settlement will occur in the first half of this year. back over to you, julia. >> thank you, carolyn. >>> we have the latest now from the u.k. manufacturing with evidence by the pmi at 56.7, so slightly weaker than expected. new exporters, 57.5, that's the higher sin

we are going to take a look to the trade data with merrill lynch.tay with us. >> we have got david and our guest from bank of america. we talked about the u.s. earlier. we talked about emerging markets. play in thechina strategy, which you are very negative on? >> i think it is critical. i look at a lot of high- frequency data coming out of china to see what is going on. rolling over or slowing down. if you look at luxury goods, they have corrected quite sharply. fine wine they are coming down. >> the extravagant spending. >> that is one. i think the discretionary spending is slowing down. >> i was reporting on luxury stocks looking at how chinese companies were doing this when swisses to export of watches. not only is china slowing down, but firms are going abroad because it is cheaper to buy these products in the u.s. and the middle east and here in hong kong. >> that's right. the company count for only seven percent of global spending. globally it accounts for 30%. it is not just anticorruption drive. i think the slowdown in spending power there.

on you on soros' side or the merrill lynch side? >> i think i'm on the merrill lynch side.he year, and you have to be an opportunist to take advantage of those when you see them. liz: the s&p is certainly much closer to its high than its low, and everybody got all freaked out when we lost about 6% on the s&p. we've managed to claw close to almost all of that back, have we not? >> absolutely. and that's the reason why it's important to buy the laggards when you see these types of opportunities present themselves. liz: what's your s&p target? >> it's probably about 80 or 90 more than it is here, 1940 or so. my guess is that we aren't going to see a year like 2013, for sure. liz: well, let's talk about how you pick a stock. i'm always interested in asking people who have been successful at this what your checklist includes. >> well, certainly today the thing that you really want to have is real sales growth. anybody can make profits. the second thing is i don't think it's time to dash for trash. i think you really want to have financially strong companies. and you want to be a

merrill lynch saying that sony is right to sell the pc business.s been bleeding money several years now. the profitu, david, warning from sony, cutting 5000 jobs worldwide, selling its japanese pc unit. after hours, twitter shares were down more than 18% in after-hours trading. the company released its first quarterly earnings report since going public. losses exceeded estimates and user growth slowed unexpectedly, at less than four percent. hans nichols is in berlin with more. take us back to the figures. us the basically told honeymoon is over. i simply did not add new users fast enough to justify the $36 billion valuation. only 9 million new users for the quarter. you go back and forth and look at what they have done in previous quarters, it simply is not there. the us is what analysts focused on. they looked at the growth of twitter and it appears to be slowing. this quarter. year over year, 30% growth. that is a slowdown from 39% growth. it is really the question of, is the growth there. compared with facebook, facebook had 3.4% growth of user

joining us now, the equity strategist of bank of america/merrill lynch. a lengthy report here outlining all of the risks in the different sectors. great to have you with us. >> thank you. >> obviously, you think of all the consumer breaches. but it's really some of the other industries that have had more breaches, more damaging breaches like energy and pharmaceuticals, for instance. >> that's right. it's incredible how the nature of the threat is ramping up over the course of the last couple of years. you've now got anywhere from 91% to 95% of companies which are facing at least one external threat. you've got up to 122 successful attacks on companies every week. and increasing by 15% to 20% per year. and what we're seeing is that cyber is increasingly morphing into a national security issue. one of the fastest growing areas for attack has been critical infrastructure. the energy grid has been coming under attack, critical manufacturing has been coming under attack. >> the knock, though, against trying to invest this for a long time. it's one thing to inv

lose too much sleep over the drop in stocks in 2014, at least not according to bank of america merrill lynch. >> corrections aren't that unusual. we went back over the last few decades and found 5% bull packs happen on average three time as year. i think what we're seeing now is just kind of a normal, a normal phenomenon. >> reporter: whatever your view, keep an eye on stocks where the action is going to be. for "nightly business report", i'm dominic chu. >> so what is going on in the markets, and why now, and what should you do about it? it's turn to three market experts for their analysis. she's global market strategist at jp morgan funds, aneka at wells fargo and tom. thank you-all for joining us tonight. let me begin and just ask you, how much more selling are we in for and how serious is this really? >> well, today certainly has been a disappointing day, but i think i would agree with the analysis the markets have been right for correction for sometime. we are coming off an exception 2013 and had an exceptionally strong last five years. the markets were set out for correction. how far d

analysts at bank of america and merrill lynch predicting gasoline prices will fall because of too muchsupply and falling demand thanks in part to fuel efficient vehicles. >>> kick starter says hackers got some of its customer data including e-mail addresses, phone numbers, passwords, not credit card information. surprisingly, williston, north dakota, has the most expensive rent in the country, about $2400 a month on average for a 700 square foot one bedroom. it's because of an oil boom going on there with thousands flocking there to, you know, looking for places to sleep. they sleep in their trucks in some cases because of lack of housing. >>> lego movie taking the top spot in its second weekend with an estimated $48.8 million in ticket sales. workers in l.a. set a new guinness world record for the largest continuous concrete pour. 2100 truckloads and 18 1/2 hours while laying the foundation for the tallest building west of the mississippi. lots of concrete. >>> some other stories making news for you, president obama warning uganda's president sunday that passing a bill to criminalize

at merrill lynch and said put -- give me your resume. >> but nobody was able to say we because weo do>> howard ward with us. he sees the fire that happen. they are completely removed from your investment world, aren't they? >> for the most part. i have to say that with all jpmorgan has been through, there really is the appearance of a witchhunt against the company. they have been fined every which way. they've billions of dollars in fines, a lot of that traced to businesses they acquired at the government's request. so tired of the let's go back and attack jpmorgan again. fines? that isn like the bp oil spill. >> or are you on the financials? on thee are you financials? we forget there is a sector called financials. they did really well. could you stay on board or even be overweight financials? >> i am not overweight currently. they were selling below tangible book value a couple of years ago. we acquired in the $30 range. we have trimmed that's a bit. from my perspective when i look at the banks, they are no longer super cheap. relative earnings growth is no longer all that great. so

morgan goldman sachs bank of america merrill lynch. bank of america so they flooded the world with all this money essentially to bail out american banks now five six years later they're pulling back on that liquidity presumably having accomplished their goal of saving american banks now there are a lot going to let these other countries and these other banks out hanging out to dry it is that is that a an unfair characterization it's difficult to determine where all this money really ended up and i think if you go back and you look and it's on the website the tarp website if you go back you can see that a lot of foreign banking institutions were. beneficiaries of the tarp program and the bailout programs and i think with guarantees implicit guarantees and everything else they had out there is probably closer to thirty trillion if they stocked out there now you had you know president obama did his state of the union address where he said and i'll quote. here are the results of our efforts lowest unemployment in five years a rebounding ho

staying with wall street, a former ceo of merrill lynch is one of the highest ranking women and is nowbrought helping other women follow her path. matt miller and stephanie ruhle spoke with her about gender inequality on wall street. >> it is not that we have gone sideways, we have gone backwards. this is what happens during crisis. and what i saw when i was on wall street is that it is not, let's get rid of people who are different from us, it is more, yes, i know the numbers around diversity and diversity adds to results, in theory. but we are in a crisis mode and i need that person who i can trust today. >> they will have an african-american ceo. they will have an indian american. they understand the advantages of diversity. unless it comes to gender, in which case it is off the table. >> the numbers speak for themselves. i do not know it is off the table, what i have seen a lot of, i have to have this person in this job because it is so important. what we find, when we are under stress, that person who you feel like, i see how that person can do the job is typically somebody who lo

neil: they do have this hooked up with merrill lynch.sort of spread the wealth around and invest in the market and that sort of thing. >> this reversion of having your money in a bank account there, whether it is the $250,000 were not is that because of the policy you're getting nothing for your money. so there are some outcomes in the world where big things will get in trouble again and even insurers mag face the defaults for the raises on their money. and the overall strategy is in the world that we have it is to get your network as high as possible. i want people to think more about this. some of the things i suggest are to find a small bank and keep more cash at home. neil: would you spread it out? what would you do? >> for sure, that is another silly thing. so for sure you should have your money spread out and the warmth that protection, even if it's not perfect. and another thing you can do is look to prepay your debt if you do have a little bit of money. you can prepay some of your that. the idea is that if there is a crisis where

bought000, merrill lynch the company for over $900 million.ecade later, he had the pub. one reality of owning a donut shop is that donuts have fallen out of favor in the sense of the health craze. >> first of all, it lubricates everything. public believe, they're actually pretty healthy. >> do you know that donuts were sold as a nutritious food for u.s. soldiers in world war ii? >> i would think so. why do you think we won the war? >> that is an interesting thing. you have got some formidable competition. dunkin' donuts opened one avenue away. dunkin' donuts right here. one on 7th avenue, they did not make it. we had won four doors down on 14th street, and they did not make it. it was david versus goliath, and david one. >> when i think of competition, i think of one of the biggest phenomenon like the american dormant -- to the history. ineverybody wants to stand line at five in the morning and spend for five dollars for donuts. they are smarter than that. every once in a while i sit down with a box, a couple of glasses of milk. >> how many do

nt was p d.n 2000, merrill lynch boughtht hi hi million.hi m mhan mcade latern m had lat the do one realityonutina do shop is that donuts is thatlen or in the sense or thesense health craze.rara irall, irall, iryou ed toyou have a little oil ve a lr system. system. ubri tes everything.s ever hingcontrary to public believeo pu thp' thlly' thlly' >> do ow that donuts were ere nutritious food fotritio u.s.io s in world war ii? >> ild think so. why do y hi wy won thhir?wo >> that is n interesting thininteing thining thinin yo got some rmidable competition.n. dunkin ondunkopened ondunueen away. have two dunkin' twout' two ' two. one on 7th avenue, they did nonue, they did tke idid we had one four doors one fou o stree and the stree and str and a it was dav sus go dav su daviwon.daviwon. hen i think of competitionk of ctionk of i thin of the bigges the bigges gges phenomenons like tenomenricali donut to the histonut tonut tonut tonut to >> e >> to >> to to a to in the morn tg andthg spen spenor spenor spents.en they are smarter than me.er.. >> do t >>t of dont >>of don y once in a ile i sitn n do

for example, bank of america, merrill lynch or morgan stanley, just to pick two names, just because youave an account there, doesn't mine the broker will get the allocation. on that basis you ask and ask and nothing ever happens. adam: there is way to make money. you have to be patient. you were telling me about the secondary market or offerings as a way to go? >> really untold story of this market in new issues.% we have secondary offerings with companies becoming public that issuing more shares. those shares are being done very quietly. they are more than a 4.25 more deals than you have ipos. adam: i will look for the numbers. it is in the hundreds of millions of dollars. actually in the billions compared to what we have with ipos. there were 145 secondary offerings last year than the -- >> year-to-date. adam: you're right, than 33 ipos year-to-date. how do you get in on the secondary? stay in touch with the broker? >> yes. adam: they're not sexy things we make a lot of attention on tv. >> characterization you need for this. these are not sexy at all. they are companies far more stabl

and bank of america, merrill lynch, saying 65 bucks. which has it right? $320? >> john tweets, tesla will never see $165 again, let alone 65. $320 is more doable a year out. neither, the market will determine the price. a tesla car costs about $60,000, so, i'd be willing to pay them 1,000 shares for one car, equaling $60 per share. >> is elon musk the next henry ford? or the next john delorean? right now, i'm thinking he's the next henry ford. the quality of this car, the fact you can buy it used for more than you can buy it new, so people can flip this car for more than they paid for it. it's hard to see how this does not turn into the next huge success story. >> let's talk about the stock price story. the options traders piling in at 270 and 300 in march. that's crazy. you're talking about a stock that's trading at 47-times earnings. i have no doubt this is a good company. and elon musk is doing a good job there. but the valuation on this stock is insane. >> how do you value the stock? as on automotive company, it should be valued? or a tech company, whi

to find out which tranny names are best buy on this pullback, we have ken hex bank of america, merrill lynche to cnbc. great to have you on. >> thank you very much. >> what do we make of what's gone on recently with the transports? they're underperforming even today with the small caps. is that worrisome? >> we had a great outperformance all last year. and for 14 years in a row. but the real setback this year is just the weather. you've had this -- >> industry blaming it on the weather? legitimately so i guess what you're saying? >> you're not going to hear them say it, but you'll hear and see a lot about weather and impacts they're having. it's impacting the volumes. we've seen rail carloads drop 1%, we're targeting 3%. we think weather is having an outstanding impact. >> pete. >> union pacific for instance, talking ag products, autos, industrials and all that as far as volumes. auto, is that a concern for you? we're hearing about mounting inventories with some of the autos and if that's a big portion of what they're able to move now, this is a stock pushing right on the 52-week high? >> au

upgraded to a buy, bank of america, merrill lynch. >> you have alibaba to possibly acquire ordinary shares of auto navi holdings. >> board of directors receiving a private proposal, basically an offer to be bought, $21 a share. it's digital map cnavigation system. >>> boardwalk pipeline partners, lp. >> as the name implies, it's a pipeline company. about 14,400 miles coming from new orleans up into indiana and kentucky. that stock is actually getting walloped, down 42% today. when you're a master limited partnership, people buy you largely for your payout. they cut the payout by ten cents a share after earnings came out. deutsche bank downgrading to sell. don't cut the payout when that's the reason people are buying you. >> stock number four, gt advanced technologies. >> gtat is the company here. despite the odd name, it's a crystals company, basically they do l.e.d. displays, solar panels. it's an apple play. heavy volume. they might be the crystal provider for a future iphone cover, among other things. >> then we have synergeva. you can clearly see the difference in the price. >> nice mo

is the one to own, the broadest portfolio and barely got dinged when they lowered the boom and merrill lynchngraded to a sell this very morning. 3-d printing that has become one of the biggest hype jobs i've ever seen, but my friends who are using this, they swear by stratasys. i expect this to jump right back. momentum monster number 11, tesla! another elon musk vehicle. i've got more to say about this one later in the show. for now, let me just tell you that tesla's a case where the car itself is driving the stock. because what can i say? that's really the truth. everyone who's ever test-driven one like me wants to own a share or two. plus, musk really knows how to drive a stock! he sets reasonable expectations and then he crushes them! and let's not forget that tesla is moving into china, ho, ho, ho, china! to bolster its growth. oh, by the way, there are valuation parameters -- i, no! no valuation parameters on this earth can justify tesla's $26 billion valuation. but as any momentum player will tell you, so what? number 12, when you think momentum monster, you better be thinking twitter

brian said bank of america, merrill lynch upgraded reliant steel and steel dynamics to a buy. >> we have an outperform on steel dynamics as well. they are a mini mill so they are scrap based. scrap prices fall like we expect them to, they are a more variable price structure. if scrap goes down more than regular price, they will actually benefit. >> understood. not all steel makers are in the same boat. really interesting. thank you. let's move on. >> u.s. steel, got to note, $186 stock before, $26 today. unbelievable. >>> let's move on to tesla. these shares hitting $200 for the very first time today. question is, is that just too pricey? joining us is s&p capital iq's ephraim levy. this is a stock up 344% last year, it's up about 30% already this year. would you really go near it now? >> we have a hold opinion on this stock. basically it's the fundamental battle between the general operating execution that they have been doing very well and growing rapidly, and we expect them to grow rapidly, versus the valuation. right now, they're at about $200, that would be about 150 times our 2014

. >> merrill lynch division in bank of america. >> on fire. >> smashing it. >> totally agree. and the reason that citis has underperformed is because of the quarter. they disappointed. i think you can see a return to the median. >> intel, you got rid of in your playbook, right? >> no, i haven't done a trade. >> maybe that was your brother. >> 11th trade. >> i will tell you my trades. >> you guys vote for each other, i can't tell you apart anyway. >> you can understand why micron is doing well. they have put themselves in a great position right now into the area of devices, the handhelds and everything that everybody is so excited about. i still like intel because they're late to the party but they can move very quickly because of their ability and their mass to be able to spend. they're putting themselves in position, scott, into the mobile market. intel, slow and steady. micr micron, explosive. >>> "half time" heads to sochi and a controversy brewing over a wardrobe malfunction. that and much more. we know we're not the center of your life, but we'll do our best to help you c

bank of america merrill lynch had a $68 price target on tesla which is very, very low. they're the outlyers. are you a believer if these new stocks that represent not only new businesses but new economic models when you look what tesla and netflix are trying to do? >> i like the cutting-edge of new technology and of new business frontiers and things like that but i think tesla's stock price is well above where it needs to be right now. so i would play a lot of caution with that price as far as that goes. netflix, you know, again, stellar stock performance. delivering the way, changing the way consent is delivered right to homes and businesses. david: right. >> that is much more of a realistic type of a model as far as that goes but i caution -- david: you think netflix may actually change the way, maybe perhaps pulling away from traditional cable tv and turning tv into more of an internet phenomenon? >> i think it has the opportunity to do that if it keeps on penetrating market share the way it is doing especially with all homes in the u.s. liz: larry, your pick of dow

. >> merrill lynch is different, jpmorgan, they are all different . wall street is not monolithic.elevator tapped into is the idea of elitism and privilege and a holier than thou attitude. >> and you want to be ruthless and aggressive and competitive. >> he will make a lot of money out of it. it goes away?k that is what you're asking. >> now that we all know he is never been at goldman, does the book deal go away? >> was a just satire to begin with? >> i think it was supposed to be his real world experiences based on goldman sachs. experienceshe tells of being on road trips and fundraising excursions and things like that. he is actually telling tales out of school. >> there are two very different things. one is satire and one is actually just -- >> the twitter feed is satire. the book, which he claims to be his real world experience as a banker at goldman sachs, we now know that is not true. >> this is the point. you are saying he is basically michael lewis in this book. pseudonym,nder the which already gave me the willies. iowa's fell like if you're going to do a tell-all about wa

she was then running merrill lynch after its acquisition by bank of america.e ran wealth management for bank of america until brian moynihan illuminated her position in a shakeup. sallie krawcheck battled her way to the top of a male-dominated industry twice. bet on is making a new women. an owns a 85 broads, organization to connect women in the work licensure is mapping out a new strategy for wall street's female rising stars. sallie krawcheck is "in the loop." it, thinkou have about your meteoric rise on wall street and still, we do not see a woman running a bang. we have janet yellen running the running gm and hillary clinton could be the next president. >> we have not gone sideways, we have gone backwards because this is what happens during crises. what i saw when i was on wall street is it is not getting rid of people who are different from itbecause they have cooties, is more i know the numbers around diversity and it adds to business results in theory but we are in a crisis mode and i need that person who i can trust today. they have an african-american

from merrill lynch in 1980. i can literally amortize your home. mortgage right here. >> alix, your hair cut, what do you think? >> i don't know. this puppy costs a lot. you pay one dollar a year, keep the philosophy worked for facebook. the whatsapp you love today, will it be the whatsapp of tomorrow? pricing expert rafi mohammed of culture profit is here with us now. are they going to be forced to change their model in order for facebook to recoup their money? >> absolutely. first of all, mark zummerberg has said we're going to keep the price at a dollar and not going to advertise, so he's handcuffed on that. the one thing they can do is go to the linkedin premium model. >> premium? got to help me out with that one. nerd alert. another nerd alert. >> so you get the network by a lot of people joining because it's free, and then you monetize it by offering them the best version. so that's probably the way they'll go on the consumer side, and then on the retail side they'll try to monetize that network. it's a great network. it's a closed network. >

make of america merrill lynch says a possible investment by soft bank of japan is said to be consideringake in the tokyo-baseline. and state politicians are targeting google glass. lawmakers in at least six states have introduced bills to ban or limit the use of the glasses by drivers. all additions are worried about drivers watching videos while behind the wheel. google has hired lobbyists to make its case. have you ever actually seen anybody drive around with google glass? >> no, i have not. i get really upset when people drive and tax. >> jed kolko, this is where people actually use it. >> people walk around with google glass. they're not bumping into people, but they do get some funny looks. and, you know, when we see more of them, google buses, the google glass, even more visible. >> interesting. this is important. can america as people succeed live in gloom of the less educated workforce, stagnant aspirations in the united states -- can there be a second american century? joel kurtzman pushes against the bloom and finds much be optimistic about. he was a force at the harvard busine

banc of america merrill lynch report found bond funds holding u.s.low. that is the latest from the fox business network giving you the power to prosper. cheryl: breaking news on apple. want to show you what the stock is doing, reuters is reporting, recommending apple shareholders vote against carl icahn's proposal to expand the buyback program at apple. i featured the stock 30 minutes ago this news crossing 13 minutes ago. the stock jumping on this news. this could be a blow to carl icahn in his plans because he has been all over tim cook to expand the buyback program and bring in profits to shareholders. i want to say i spoke about this 30 minutes ago, they had been buying $14 billion back in stock over the last couple weeks but carl icahn who we should also say and own $3 billion worth of apple stock wants that to be a lot more. he would like to see $50 billion but at this $.14 billion is what we are getting. against carl icahn if you own apple's stock. retailers off to a rough start this year. layoffs plaguing the industry. winter weather includin

i was working for merrill lynch. i was on the trading floor the day the markets crashed.y kind of dirty way. >> a lot of people were hurt. >> it was not my job as a writer to take a position on jordan. my job was, i felt to tell the story honestly. >> he really had parties where there were prostitutes and naked ladies running through the office? >> yes. what you see on screen is exactly what went on. i don't think anybody needs me to tell you that's bad behavior. we wanted it to be sold as jordan. he tells you or sells you his story by the end of it and you're going along for this ride and it's funny or amusing. by the end of it when it turns dark, you realize, wow, i've been sold a bill of goods by this guy. you are essential i will one those people. so that was sort of the stylistic choice. >> in the end and today, he's a salesman. >> yes. >> that's what he did. leonardo told me the hardest things were to get were the speeches. >> yeah. there were some four- or five-page speeches that were dense, a roller-coaster ride. they're had to write. i can't imagine having to sta

merrill lynch said on friday if we see another $7 to $8 billion of outflows this week, that will trigger sale signal for them. we saw a 14% rally in markets over the next three months when that happened. >> they said it will be a sell signal. >> a buy signal. >> you said sell. >> i'm sorry, buy signal. 14% rally in the emerging markets over the next three months. >> we'll see. >>> talk the trend by taking part in on your loon poll. the gdp data out this week, which of the continent's stock indices would you like most exposure to? >> the cac 40, xetra dax or ftse mib. >>> we are an hour and seven minutes into the european trading week, and we are a little bit firmer, 6-4 after a move upwards last week for global equities. the ftse 100 was up 8%. the first week of gapers in weeks. this morning, slim gains. the ftse 100 up seven points, similar for the french market cac and fairly flat for the ftse. nokia toward the top of the stock 600. the firm signed a patent technology agreement with the taiwan ease filmmaker htc. both firms have pending litigation. now investors hope this paves the way

many expectations, including that of bank of america merrill lynch that they could potentially reduce their full year estimates for the second time in as many months, as many as three months. in the meantime, a number of corporates coming out with profits today in japan after the market closes. so you want to watch out for the orders, particularly mazda and mitsubishi and fantastic numbers, just like toyota, which was a stellar performer in terms of market reaction today. their numbers moving up five bold in terms of net profits, mazda like toyota hiking their full year forecast for net profits and also operating profit on the back of the weaker yen. the operating profit numbers have been tremendous, obviously, because of the weakness in the japanese yen and the october to december quarter. the dollar/yen was standing at about 100 to the u.s. dollar. as you well know, they have fallen a lot more since then, down to about 105 levels, ross. but we've come back from the 105 levels. so long as abe-nomics is going to work, japanese -- will want to see a weaker yen and those outlooks rather

were backed by the casino revenues that courts said may be illegal sold to the city by ubs and merrill lynchtentative settlement for the banks, it will be up to the judge too prove that and to approve this plan of adjustment which is the next step in getting detroit back on its feet. >>> here is the check on european markets for you. we are seeing a lot of red across the boards and markets really hit by global growth concerns, not so much about profit taking any more. that's so yesterday, isn't it? we've got the xetra dax down by 1%. the cac 40 is off by 0.4%. we got disappointing pmis of china and the eurozone, of course. looking at u.s. futures, as well, we're expecting another softer start to the trading day. a fairley choppy session yesterday, stocks down for a second day in a row. and the dow off by 0.6% yesterday after the fed minutes were more hawkish than many people expected. u.s. markets sold off into the close on wednesday, following the release of the january fed minutes. they didn't signal any changes on tapering. the minutes did get some attention, making the central banks soun

these charts from merrill lynch that we're showing you now, 48% correlation between the average temperature in q1 and what we see for u.s. gdp growth. so a very cold january. as i said, coldest level since 1998, expected to see a very cold february, too. >> yeah. i think we'll get some that will calm a little bit. maybe that's what we priced in. coldest -- the wettest january in britain for, like, ever. and that means it's pretty wet, let me tell you. >>> still to come, we'll be talking more about that jobs report and get some analysis. plus, coming up later -- >> it's a virtual currency that some say is the future. the bitcoin has been hampered by krns about tax, regulation and money laundering claims. we'll discuss it later in the show. then a little time to kick back. earn double hilton honors points with the 2x points package and be one step closer to a weekend break. doubletree by hilton. where the little things mean everything. [ male announcer ] even more impressive than the research this man has at his disposal is how he puts it to work for his clients. morning. morning. thanks for

the tech -- the bank of america and merrill lynch came out with that survey saying that 48% of managers it's the second highest amount in a decade. >> i think she just made a case for them to merge. >> right there. that will work. absolutely. >> right? >> the ipo business goes in trends. so look what's been hot recently. biotech. last week we had six biotech ipos and four of them were not successful. we're a little bit cresting now. tech is still hot. the talk of spotify is still hot. drop box is still hot. those companies are going to do well at least initially for sure right now. one offs like candy crush, i think they're going to be a little tougher sell because the market has a lot of experience seeing what happened with zynga. >> it does seem like there's plenty of factors to differentiate this from the kind of throw anything at the market vibe of the '90s where everything was well received, bid up on the first day. we haven't seen that kind of market here. >> look at biotech. when biotech stocks were hot in the 1990s, they went through the roof. after the market crash of 2000, the

during the financial crisis the banks needed to recapitalize, merrill lynch, so they sold a lost stocks stuff, puerto rico, not enough money on hand to pay your bills. merrill, citi, they started issuing, gets loans from sovereign wealth fund and started issuing debt, excuse mes stock, which theoretically diluted existing shareholders prices went up in short term, everybody thought it was a bailout. it was a short-term fix. that short-term fix we point out, if looking parallels did not work f you're looking at parallels between short-term fix of banks in 08 and puerto rico, you're in deep trouble f you're banking on that, that parallel is diss is truss borrowing a federal bailout which always could happen. lori: love the chat. wish we could go longer. they're giving us the hook s that the way you put it? giving me the hook? >> god forbid that people won't know that the market is down, right? i mean if that doesn't stop the presses that the market is down. ashley: it's down? there it is. >> there it is. it's down. if you don't show them that every 35 seconds you might never know what mi

i talked to an economist at bank of america, merrill lynch, and he tells me it was not obamacare.nything, obamacare should the health-ing in care field, even if it did cost jobs in other fields because of higher costs for employers. so it is not see my -- another explanation i heard is a lot of consolidation in the hospital sector, and you are seeing some job losses there as health care employers look for more efficiency. host: nelson schwartz from the writes aboutes" the economy, talking about the middle class, a new story of his takes a look at retail and where the middle-class shops. you may want to make your thoughts known and asking questions, we have divided the lines differently. if you make under $50,000, (202) 585-3880, if you make $50,000 and $100,000, (202) 585-3881, and then (202) 585-3882 if you make over $100,000. good morning, go ahead. caller: good morning, pedro, and allowing, c-span, for me to speak. on netflix, there is a movie i saw a little while ago called "death by china," directed by peter navarro. i was wondering if your guest here was familiar with that.

. >> joining you right now is marianne bartle, from merrill lynch wealth management. also michelle gerard, chief economist at ubs. after the last jobs numbers we've gotten, have you changed your mind at all about where we stand? >> no. you know what? i don't think the fed is going to slow the pace of tapering. i'm sure they're disappointed that job growth has kind of slowed a bit, but i don't think that they're worried about the economy. the biggest thing, though, is we've talked about this before. with janet yellen, the kind of support that the economy is going to get from the fed is going to be different. i think the fed in general is done with qe. so even if the economy slows, it's not going to slow the pace. what she's going to do is provide support by reassuring everybody that rates are going to stay low. that's how the accommodation is going to come. >> does she have another tool beyond that, saying they're going to stay low for an extended period of time? >> it gets very tricky. there's only things on the margi marg margin. being able to tighten the forward gui

. >> the merrill lynch guy yesterday reiterated his $85 price target. that's good, isn't it?e what happens. >> yes, but -- he's been a little off. >> he's been out there. >>> coming up after the break, former ceo of. lord john brown will join us to talk about the future of energy when we return in just a moment. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. predibut, manufacturings a prettin the united states do. means advanced technology. we learned that technology allows us to be craft oriented. no one's losing their job. there's no beer robot that has suddenly chased them out. the technology is actually creating new jobs. siemens designed and built the right tools and resources to get the job done. >>> welcome back to "squawk box," everybody. i'm becky quick. we have your morning headlines today. mt. gox filed for bankruptcy protection. that announcement came at a tokyo news conference at which mt. gox ceo apologized for the bitcoin exchange's problems. he said mt. gox may have lost nearly $500 millio

remember, he's a trained economist who worked at merrill lynch for a long time. so he knows how to talk to the global market community, international investors. i think the question ultimately is do you believe that the prime minister and he are on the same page? he says that they are, but when the prime minister says things like interest rate hikes lead to inflation, you have to wonder. so i think it still remains to be seen, but at least the finance minister is trying to put the best face forward here as they try to stabilize the currency. >> michelle, thank you. obviously, we're watching the emerging markets closely this morning. we are watching what came out of china, what's happening in japan, and we'll look at the markets here to figure out what to expect ahead in the week of jobs friday. joining us from new york is maury harris, the chief anyist. phil, it's a messy month as we are down 5%, so what happens next? do you think that this is the beginning of something more to come or is there a turn? >> no, i think it's mostly e.m. >> emerging market. >> thank

check out 3d systems, stock taking a hit after bank of america merrill lynch downgraded to underperformthe company's top line growth coming at the expense of margins. the stock down 4.6%. kayla. >> thanks, seema. the most important things lowell mcadam told david faber in an exclusive interview. you'll hear them next. and google's director of engineering says by 2029 computers will be able to understand our language, learn from experiences and outsmart most intelligent humans. scar ri thought. that brings us to this morning's squat on the tweet. if google is right, how can we prevent the robot apocalypse? we'll get to some of your answers later this hour. [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the trading floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell. get live

mike hansson, merrill lynch global research. yesterday i was at the new york stock exchange. big rally. dow's best day of the year. traders were talking about optimism on the jobs report. is that justified? >> there's some expectation with the weather story supposedly playing out in december that we get a bounceback. historically, that tends to happen. whether you get basically the jobs replacement. i think there is optimism. the data has been kind of mixed. it's a tough call. >> you get that crazy report. not only do you have the weather, but you have the seasonal adjustment that usually comes with january from december and you had the unemployment benefits which ran out at the end of december. >> that's right. that will affect the unemployment rate. the unemployment rate is even more volatile than usual. everyone who was on employment insurance left, you would have something like 5.8%, 6% unemployment rate. >> do you care about the -- >> well, we should. >> the fed probably does. >> the fed is backing away from focusing on the percentage at this point. >> mark, you've raise