i'm wilfred frost. >> i'm seema mody.> great to have you back at headquarters >> it's great to be back lovely to be alongside you >> thank you >>> let's quick off with that big breaking deal news comcast making a $31 billion cash offer for british broadc t broadcaster sky. sky shares shooting higher on the news sky up to 1,332. the bid price was 1,250. for most of the last year or so since the fox deal for sky had beenagreed, it traded below that bid price on expectations that regulators could block the deal now there may not be regulatory hurdles, but also now a bid war. comcast lower in the premarket comcast's bid does rival the current offer from fox we'll have much more on the breaking story straight ahead. great analysis and guests coming up throughout the show. >>> let's check global markets following yesterday's big rally. it was a strong start to the week with the dow gaining 1.5% futures indicating a higher open for the dow which is up 18 points in the premarket. nasdaq lower by 4 points s&p 500 basically flat ch

seema modi >>> joining me is david, chief strategist at jeffries welcome. you have some tough talking here you say this is handsome dividends for the haters, all this volatility and the selloff last week. is that how you see this playing out here as we enter year nine, almost ten of the bull market? >> we've had so many of these corrections over the last nine years. a lot of times i find myself fighting with the same group of people who have been telling you qe doesn't work, inflation is around the corner and it's going to come to an ugly end it feels like another time where we got a little inflation uptick with the wage data and the payroll numbers. we have fiscal stimulus that's getting everybody a little antsy in terms of are we stimulating at the wrong time in the cycle rates are at 4.1 most importantly, we have a new fed chair we don't know a lot about. i think that's the kicker, is we're trying to figure out who jay powell is, what he's made of and the market is kind of pushing him a little bit they'll learn a lot on the 28th when he has his testimony

i'm wilfred frost. >> i'm seema mody in for sara eisen.> great to have you with us let's look in on the market picture. another roller coaster ride yesterday. two days ago we had a 1,000 point swing from low to high yesterday about a 500-point swing on the dow we were down 130 at the open the session high was 381 points. we sold off into the close and finished basically flat for the dow. the s&p was down 0.5%. nasdaq down about 1% the week to date results are down about 2.5%, 3%, not that bad with the huge declines earlier in the week. the dow did lose 4% last week as well this morning it's calmer we're down, but only by 96 points the nasdaq is down 16. the s&p down 12 points let's look at the treasury yield curve. we did see yields pick up yesterday. we were nicely above the 2.8% level, 2.84% we're near that high of 2.85 we touched late on friday it will be a big test for the markets to see if yields continue their rise, if we get more of those types of pullbacks in equity markets that we saw late last week and early this week a look at t

you're watching cnbc i'm seema mody >> i'm dominic chu we are seeing green this morning, a nice reversal from yesterday. the s&p is latslated to open 1 points to the upside the dow slated to open up about 130 points, the nasdaq by 35 also checking in on what's happening with the ten-year, 2.8 4% we see 2.835 the last trade of the ten-year a key piece of inflation data out today, the consumer price index could have an effect on that bond market >> let's check the temperature overseas in asia stocks are relatively higher with japan being once again the exception. that's on the back of a rising yen which is at a 15-month high against the u.s. dollar. we also got data out overnight in japan, growing at a pace of 0.5% last quarter, that's slower than expected, but still its eighth consecutive quarter of growth hang seng, shanghai composite and kospi seeing gains of 1.2% the hang seng helped by tencent shares a lot of these tech names in asia that sold off last week did rebound overnight. eurozone gdp hitting the tape, up 0.6% quarter over quarter up 2.7 % year over year. basically in line wit

i'm wilfred frost. >> i'm seema mody in for sara eisen.py friday to you. >> and to you, but it's not a happy friday for the dow futures. coming off a week where we're already down 1.6% for the main three indices coming into the session. we are expected to open down by 263 points on the dow. s&p down 21. nasdaq down 44 we had slight gains for the dow yesterday. slight declines for the s&p and flaz d nasdaq lots of yo-yoing overnight some international markets have seen off and yields have risen let's look at yields, the ten-year did cross 2.80% overnight, it's 2.798 right now. the days of rising yields have correlated over the last ten days with days of selling of equities that's what we're seeing this morning. >> let's check on asian stocks mostly negative overnight. stocks closing lower by 1% part of that is the weaker yen against the dollar and interesting news about the central bank conducting a special bond purchase operation to curb rising yields. the kospi lower by 1.7%. due in part to sam thing, which reacted negatively to apple's s

. >> i'm seema mody in for wilfred frost and sara today >> this morning we are seeing some red after big green day yesterday. you can see for right now we have an implied open on the dow of down just about 180 points. the s&p indicated to open down by 16 and the nasdaq down by 29, 30 points. a nice 410-point gain for the dow yesterday maybe sets things up for a breather today. we'll see if that selling pressure holds steady or gets exacerbated. the ten-year note yield, a bit of a bid to treasury bonds, so yields are lower this time yesterday we watched and saw the ten-year treasury note yield around 2.88, almost 2.89%. you can see now 2.83% is where we stand on that u.s. ten-year treasury note. >> let's look at stocks in asia overnight. asian stocks closing higher with the exception of japan, which closed lower by 0.7% that's due in part to the rising yen. you can see a strong move for the shanghai composite the kospi higher by 0.4% early trade in europe, let's look at the story there. stocks are lower with the dax down by 0.3% we did see a nice move to the upside in european equitie

. >> i'm seema mody. >> what a big day it is. we had a massive reversal yesterday.ll of a sudden it's carrying through into today let's check the global markets this morning starting with the u.s. futures picture we're seeing quite a bit of green across the board right now the dow jones industrial average will open up by 250 plus points the s&p by 21. the nasdaq up by 56, 57 points let's check on the ten overtreasury note yield because it has been a very big battleground for many traders. arguably one of the biggest driving forces behind the recent market volatility. interest rates now, 2.92%, multi-year highs for that longer-term u.s. treasury note we'll see if that stays the game given today's other big inflation data coming out, the producer price index >> interesting that despite the rising inflation picture, stocks still ended higher we are higher premarket as well. many asian markets are closed todayt for the chinese new year, japan did remain open. the japanese nikkei closing higher by 1.5% look at the story in europe. early trade there, it's green across the

. >> i'm seema mody in for sara eisen.ood morning to you. >> good morning to you as well happy first day of february. our top story, facebook shares rebounding following a drop after yesterday's close. the company crushing quarterly results but reporting a big drop off in the amount of time users spend on the site. we'll have more on the quarter straight ahead there is the share price move. down as much as 4% when people focus on that drop off on time usage by users after sheryl sandberg said this won't hurt revenue moving forward, you can see the sharp rally back first, let's check in on global markets. >> u.s. futures, we did see a sharp intraday reversal, marketing starting the day lower but ending higher on thursday. the dow is slightly lower by 2 points s&p higher by 6. nasdaq higher by 3 wall street closing higher yesterday, unchanged decision by the fed was the market mover look at the ten-year note, rising yields has been the story for quite some time now. the yield above 2.7% 2.74 >> let's recap january the dow an

. >>> let's go to seema mody >> european stocks in rebound mode, ending a seven session losing streakunding after the worst daily performance since june of 2016 part of the story is better than expected data, rising growth expectation. eu raised eurozone growth forecast to 2.3%, up from 2.1% from the time in november when it made the target germany among the markets negative for the year down just about 2%, despite today's rally. speaking of germany, chancellor merkel agreed on a deal between her conservative block and left of center social democrats she made some concessions, social democrats would head finance and foreign ministry in the new government, but the party's members still have to vote to approve the coalition deal >>> the yield on ten year german bond is rising, hitting multi year highs, puts this market rally into focus of course finished with earnings news, norway stat oil posted better than expected quarterly profit on higher crude prices, record output sanofi down, and abn amro, that stock down 3%. back to you. >> great thank you for bringing us that seema mody, back

. >> i'm seema mody in for sara eisen. let's get straight to the market picture. a massive selloff again yesterday. we were down over 4% for the dow. a lot of the selling coming late in the day as we have seen through some of these days of volatility and selling, we are now down 6.5% week to date before today for the dow. that following a 4% fall last week the falls week to date for the other two indices, about 6.5%. the dow and the s&p are in correction territory, which means a pullback from the highs of 10% or more the nasdaq 100 also in correction territory the nadz dsdaq come podposite d% this morning we are expecting to bounce back higher by more than 1% on all of those indices the dow higher by 1.2% the nasdaq higher by 0.9%. ten-year treasury note, rising interest rates la behas been a g reason for this selling. the high yesterday was shus sjuy of 2.9%. 2.842 is the number. >> it's been a volatile week for global investors the selloff has been pronounced in asia which did end the week lower, lower by 2.3% for japan, hang seng lower by 3%, shanghai down 4%.

now let's get to seema mody back at headquarters with the european close >>> jon, european stocks relativelyfor the beginning -- for the week. that has pretty much been volatile for the broader global market setup take a look at the german dax on track for the second straight week of gains for the first time since november earlier you had the yield on the german ten year fall to the lowest level since the end of january. slightly different story as we head to the close here moving on to some stocks in focus in europe, the biggest laggers including french auto parts supplier valeo on a drop in 2017 net profit that stock down 11%. and then take a look at international consolidated that is the parent of british airways reporting fourth quarter revenue shy of expectations. royal bank of scott land also under pressure it posted its first full year profits since 2007 but investor concerns about restructuring and litigation costs are weighing on the stock. it's down just about 5%. and an interesting story playing out in the telecom space bt group rising after uk regulators this morning eased price

seema mody's there with the european close. >> hi, mike.stocks are off high of the session following wednesday's rally, while germany has been really leading the european rebound we've been seeing this week today's best performer is france, up 1%, but like most of its european counterparts, still in negative territory for the year one stock helping the french equity index is airbus, today's biggest gainer, on track for its best day in about six years. free cash flow and underlying annual profit solidly beat analyst forecasts as deliveries hit a record high in 2017. today's news overshadowing a $1.6 billion charge airbus took on its a-400 military transport plane, which has been subject to delays, but you can see the stock is up more than 10%. meanwhile, nestle shares moving lower and hovering around correction territory for the year this is the world's biggest food company, reporting a drop in 2017 profit, citing what it calls a challenging environment in north america and brazil. organic growth was the weakest since nestle started tracking

. >>> good morning, i'm seema mody live at cnbc global headquarters. wall street looks set for more gains at the opening bell this morning after yesterday's rally. the markets rose for a fifth straight session with the dow closing above 25,000 for the first time in about two weeks. helped by gains in the tech sector. look for economic data today on housing and the consumer. the dow jumping 306 points, the nasdaq rising 112 to close at 7,256. twitter, youtube, amazon and verizon are in the running to stream the nfl's thursday night game. it is unclear what price they are seeking but the league could strike a multi-year deal. twitter paid $10 million to the streaming lights for the thursday night games in 2016 and amazon paid $50 million this past season. the nfl just sold the broadcast tv rights for thursday to fox for $3.3 billion. >>> uber isn't the only ride hailing company with an interest in bike sharing. lyft has partnered with baltimore to load hubs where you can pick up a ride or reserve a bicyc bicycle. the aim is to help you switch between mod

. >>> seema mody has the european clothes. >> european stocks rebound from tuesday's session, helpedta shows eurozone fourth quarter gdp was up 0.6%, up 2.7 year over year. in earlier trade, inflation fears took center stage. at one point stocks erased gains, in reaction to stronger than expected jump in u.s. consumer prices last month in german through europe, markets shrugged off the news and regained momentum. yield on german ten year bond spiked on the u.s. inflation report, since has pulled back from highs 0.75%. the euro, interesting story, rebounded against the dollar after falling in negative territory. tomorrow, we get u.s. producer prices it will be interesting to see how european markets respond, given how interconnected markets have been as of late stock stories, credit suisse on guidance overshadowing third quarter annual loss, bank in the midst of three year overhaul says it is off to a good start to the year, double digit gains in global markets and asia pacific trading businesses as activity levels rose on market volatility stock up 4%. retail hitting pain. it is a ch

seema mody joins me with more on the big moves. >> the volatility continues. on the day on on track for the worst week since april of 2013 but as you were just pointing out, bitcoin staging a bit of a comeback still below $9,000, a level they haven't traded at since november of 2017. still down about 30% here in 2018 i have been told by genesis trading their ceo that it's basically retail participation that has been driving the recent price activity in bitcoin over the week what is also interesting is we're seeing the cryptocurrencies and ripple is higher by 4% lytecoin and ether also coming off the lows they're down about 2% today. i will point out next week there is one big event happening on tuesday and that is the sec commissioner jay clayton and the chairman will be testifying in front of the senate in washington, d.c., on tuesday, february 6th the top sick virtual currency. the comments we hear from both of those gentlemen will clearly be something that cryptocurrency world will be watching very closely. guys, back to you. >> seema, these levels are impo

. >>> let's get over to seema mody. >> european stocks wrapping up february with their worst monthlyformance since june of 2016 which you may remember, that's when the brexit vote took place. look at the markets, the individual markets you see the major european markets are down including germany with 5% decline for the third negative in four months. london ftse, down 3.5%, paris down 3% for the month. stocks unable to post gains despite the euro and uk pound each posting monthly decline against the u.s. dollar. though we have some green to show you, italy among the few european markets up year to date, helped by a double digit rally in the italian banks which have remained somewhat resilient amid uncertainty surrounding the upcoming italian general election on sunday there you go italy and banking shares outperformed we finish with a pair of two stock stories out of germany adidas says growth in china and north america boosted sales in 2017 flip side, bayer, fourth quarter profit due to hit from u.s. tax reform and weaker sales. that stock down about 2% guys, back to you. >> seema,

. >>> let's get to seema mody with the european close >> hello, morgan mixed session in europe.e getting a lift on earnings news. glen core announcing profits quadrupled in 2017, helped by strong gains in its trading division as commodity prices moved higher, thanks to surge in cash flow, the company says they'll pay almost $3 million in dividends and consider acquisitions quite the come back. up 25% in the past one year. looking at financials, lloyds posting a profit miss. stocks are higher. british bank confirmed 1 billion pound share buy back and 20% dividend hike. they'll invest to improve digital bank services. stock up 3%. >>> the uk experienced strongsts quarters of growth since the 2018 recession unemployment rose fourth quarter. labor participation increased as did wages. we talk a lot about wages here, in the uk, up 2.5% year after year flash composite fell this month, but still at levels indicating the fastest pace of economic growth in more than a decade in europe interestingly enough, pound and euro trading lower against the u.s. green backs still some notable econo

. >> i'm seema mody in

. >> let's get to seema modi. >> the selloff intensifying toward the end of the day.he dow now lower by 300 -- excuse me, 297 points. he were down as much as 327 points, a 1.3% decline for the dow. extending to the nasdaq and s&p 500. what was interesting is when we started the day, it was a consumer staple that led us lower by walmart, disappointing results. that stock on track for its worst day since 2015 then you saw other names and the diversified consumer space from kraft, hineinz, kroger among others to walmart's disappointing results. then we saw selloff in health care, utilities, also part of the selloff. biotech names that have been some of the big winners in 2017 under pressure in today's trade. that was one of the big themes here it started with consumer staples but it quickly moved to the other sectors like utilities and telecom. that seems to be one of the reasons we are lower here on the dow with names like travelers and verizon moving lower that seems to be a big part of the story. the other thing is the dollar, it continues to strengthen across the boa

. >>> bitcoin prices falling below the key $10,000 mark seema modi at the hq. >> and i care.itcoin, just when we thought we were out of the woods, right around $10,000, down about 4% on the day. federal reserve bank of new york president william dudley cautioning investors that the surge in cryptocurrencies is dangerous. saying, quote, there is a bit of, i would say, speculative mania around cryptocurrencies in terms of their valuations which i view as pretty dangerous because i don't see what the true underlying value of some of these cryptocurrencies is in practice dudley did not single out a specific crypto, like bitcoin, but his comments come sort of as a sharp contrast to u.s. regularities at the s.e.c. and cftc, who have been much more receptive to cryptocurrencies. separately, traders who apply technical analysis to bitcoin charts say, we're seeing some signs of weakness with a head and shoulder pattern playing out. bitcoin now down 40% from its recent high in mid-december. it's not just confined to bitcoin today. we're seeing other cryptos like ripple and lytecoin als

seema mody >>> we're down 337 points right now on the dow with that, we're going to get over to sue herreraews update. >>> good morning, everybody. here's what's happening at this hour president trump addressing the 66th annual national prayer breakfast this morning in washington stressing that faith is central to american life and liberty >> ourrights are not given to us by man. our rights come from our creator. no matter what, no earthly force can take those rights away >>> mcdonald's unveiling a contest to win that, that is an 18 karat gold ring valued at $12,000. looks like there are a few die plon -- diamonds in there too. fans can win the ring by creating a proposal of love to the big mac on twitter >>> and tens of thousands of eagles fans pouring into philadelphia this morning to take part in that city's first ever super bowl victory parade organizers say that they are preparing for as many as two million people to jam the parade route. sunday's postgame celebration was marred by violence and vandalism. hopefully this one will not. >>> that's the news update back downtown. morgan, ba

♪ >>> welcome back to the "halftime report," i'm seema mody profits beat by a wide margin at 24% jumpas bookings continue to rise despite higher room rates and market is focused on the metric which did surpass expectations and led by china, interesting given that h&a is the biggest shareholder. they have a 25% stake. it allows hilton to continue the build out in 2018 and reviews tax reform as a positive for corporate travel in the fourth quarter, $665 million tax benefit we're seeing shares of hilton and other hotel stocks rallying and scott, we do have marriott, trip adviser reporting tonight. >> and she was talking about more buybacks as a result of this. >> exactly. >> thank you very much seema modywith the latest there. do you like hotel stocks >> my pick is marriott >> you could hear more about buybacks if you don't want to address hotels directly. >> and they don't own as much as they used to, judge. in other words, they've outsourced it and put the brandon it, just like the president puts his brand out there, these guys put the brandon star wood or marriott hotels and they don'

. >>> let's get to seema mody with the european close >> really seeing a global reaction to rising yieldsropean shares seeing their biggest weekly loss in six months led by germany which is off by triple digits. deutsche bank, largest lender, reporting the third consecutive full year loss sales and trading revenue declining 27%. deutsche bank off by 11% just this week. but putting this week's selloff into perspective, european stocks with the exception of germany still higher for the year russia, though, is the bright spot up 8% ahead of its presidential election which is set for march 18th guys, sending it back to you >> okay. we'll take it. thank you. >>> let's get over to sue herrera for a quick news update. >> good morning, david again, here's what's happening at this hour los angeles police now say a shooting at a middle school that injured five was an accident a 12-year-old girl brought a loaded gun in her backpack and it went off whether she drop tlad pack. police booked the girl on negligently disarming a fire arm. >>> north korea warning against u.s.-south korea military drills a

i'll take it, thank you, seema mody >>> when we come back, carl joins us live from the winter olympicspyeongchang, south korea. he got sideline time with athletes from all over the world and he asked them what else about bitcoin? take a listen. ♪ >>> i do not own bitcoin, no, i don't. i stayed out of that whole whatever it is i don't even know what it is >> i don't own any of. i heard it it is a cryptocurrency there are a few people that visit. for me to use it, i will see how it goes. >> i hear about bitcoin. but i'm not interested about bitcoin. >> i have had to buy recently. first one was recently >> i have friends that trade on it but i don't own it i don't own any, unfortunately >> i'm not so sure i heard so much about it i don't know it seems like it's too late to jump on it or get on the train, you know >> from what i read, it dropped recently again it was really high a couple weeks or months ago. i don't know i haven't really paid that much attention to it other than you talking to me about it >> no, i don't own it's not so popular in belgium but apparently i missed meinbeusyor

. >> great thanks, seema mody back at hq.'s get to sue herrera >> good morning, everybody here's what's happening at this hour the international olympic committee says not so fast it might not necessarily invite the 28 russian athletes who won their olympic doping ban appeal to compete in the winter game. not being sanctioned does not automatically confer the privilege of an invitation to the games. >>> ups announcing it ordered 4 14 boeing cargo planes and 676 aircraft to provide additional capacity for its increasing demand and this comes in addition to 14 cargo planes that they ordered back in 2016 all 32 planes will be delivered by 2022. >>> and lowe's says it's giving bonuses up to $1,000 it's the latest company to invest in the workers since the tax overhaul it will be sweetening benefits for maternity and parental leave. >>> and mitsubishi recalling 141,000 outlander suvs because the engine belt can detatch draining the battery and causing the engine to stall. it covers the 2008 through 2012. you're up to date. that's

i want to bring in my panel now, tiffany shu and seema mody of cnbc. tiffany, what kind of relationships did the nra have? what kind of companies was it working with? >> everything from insurance companies, to airlines, to hotels. it's really across the board. they had discounts for really anything you can imagine, like home security products even. >> seema, what have we seen here over the last few days? there have been survivors of the shooting tweeting at or mentioning companies on social media. what have you made of the changes that we've seen and how quickly they've happened? >> i think for the first time corporate america is responding to the public pressure and participating in this heated discussion around gun control over the past couple of days. iconic brands from hertz, avis, delta, joining the discussion and saying we're going to sever ties with the national rifle association. it's seen as a small but powerful step in the right direction and says corporate leadership is prioritizing social responsibility much more now than before. >> tiffany

. >> we'll talk about it >>> let's get back to hk seema mody is there with the european close >> hi,e. enjoy that discussion. european stocks lower giving up the gains from monday's rally. investors obsess over an inflation. new data shows that uk consumer prices stayed flat at 3% in january. just last week the bank of england indicated they may raise rates sooner than expected to tame the emerging inflationary pressures. you can see the pound rising against the u.s. dollar. let's talk earnings. caring reporting another strong rebound in profits thanks to heightened demand from chinese consumers and millennials. it could weigh on future results and that's why we're looking at shares down nearly 4%. take a look at travel group. higher on the quarterly results. helped in part by a more supportive geopolitical dbackdrp as tensions ease in turkey and africa really a fascinating story that stock up more than 2% finally, the ecb is trending right now for its tweet on bitcoin. the central bank explains why bitcoin is not a currency highlighting that it's volatile, not protected, not backed,

thank you for joining us, david barnes >> thank you for having me >>> let's get to seema mody and check how europe is going to close. >> getting the chance to react to yesterday's fed minutes, european stocks are mostly pulling back on the worries about higher interest rates. you can see the german dax back in positive territory. keep in mind we did get weaker than expected german business confidence and a downward revision of fourth quarter gdp adding to that negative sent sentment policymakers won't change their forward guidance any time soon they also expressed concerns about a potential currency war with the united states and said volatility in the euro is a "sort of uncertainty which requires monitoring. the euro higher at 123 against the green back stocks, one of the bright spots is barclay's the british bank announcing plans to resume paying the full dividend despite missing with the 2017 earnings. that stock up more than 4% but a much different story for finland's rovio. they're known for angry birds games plummeting after warning on profits and revenue on 2018 saying they expec

. >> courtney, thank you very much >>> let's get back to hq and seema mody is there with the europeanke, european stocks mostly higher led by technology as we enter a week in which politics and central banks will take center stage in an address to the european parliament, ecb president mario draghi says they have yet to show signs of upward adjustment with politics, germany reacting to china's jili buying a 10% stake in daimler recollectors say the deal should not be used as a gateway to advance chinese policy interest. that stock down .2%. germany chancellor afrngela merl brought closer to a fourth year term the lowest level in a movement sticking with politics, italy's general election less than a week away. the polls show that it's unclear who will win the election. remzi leading the democratic party. he was the former prime minister and voters rejected changes to the constitution bett better lus xoeny is back and the youngest of all contenders is di maio the big topic of discussion is immigration and taxation ahead of that vote on sunday back to you. >> we'll be watching that all

bitcoin breaking below 7,000 seema mody back at hq. >> brian, investors are growing anxious ahead of tomorrow's hearings the sec and cftc will testify in front of the senate banking committee at 10:00 a.m the topic regulatory oversight of virtual currencies. jay clayton will be asked to assess the risk in the crypto space, that means bitcoin and other currencies its commentary on bitcoin and crypto exchanges has been limited. traders will be looking for some type of guidance on whether regulators will pursue a specific strategy like regulators in china and south korea. bitcoin lost over $1,000 in today's trade and is down about 65% from its mid december high but to put this move into perspective, this isn't the largest drop that we have seen in bitcoin it did lose over 90% back in late 2011. also worth noting, the selloff today not confined just to bitcoin. the rivals ether, light coin and ripple suffering double digit decline. >> thank you very much. >>> for more let's bring in michael boucella he's manager director of block tower, managing crypto investment fund. michael, people go

. >> seema mody, thank you for that report. >>> while the overnight shutdown is over, the spending bill signed by president trump just a little bit, the drama is not because congress is staring down yet another deadline, one coming up in early march. we're looking ahead at what is next for immigration talks as that expiration date for dreamers gets closer. that's next. hold together. a little to the left. 1, 2, 3, push! easy! easy! easy! (horn honking) alright! alright! we've all got places to go! we've all got places to go! washington crossing the delaware turnpike? surprising. what's not surprising? how much money sean saved by switching to geico. big man with a horn. fifteen minutes could save you fifteen percent or more. that goes beyond assuming beingredients are safe...ood to knowing they are. going beyond expectations... because our pets deserve it. beyond. natural pet food. >>> okay. you ready for this? no more government shutdowns. really. at least not for six weeks. congress did manage to get overnight for good measure but now the budget battles are over. immigration is the ne

than 60% of their losses in the great swoon of early february let's get some more on today' action seema modyyork stock exchange. hey, seema >> good afternoon, tyler a choppy session thus far. down about triple digits on the dow, but not at the lows of the day. down about 123 points. check out the sector board consumer staples leading the market lower walmart on track for its worst day since twen 15. other names in the consumer space, kroger, kraft heinz, clor clorox, these larger consumer stocks all down about 2% to 4% what's also notable is the move on the dollar. higher today as the ten-year creeps up past 2.9%. last week, the weaker dollar is said to be one of the reasons stocks rebounded today, slightly different scenario let's see if it holds. moving on, a lot of notes out from top wall street strategists. the bull versus bear debate with blackrock among others saying tax cuts will supercharge earnings and inflationary fears are overblown. while morgan stanley and others mentioning monetary policy winding down plus a widening deficit as those reasons to worry. with all that said, take a

seema mody is looking at a sea of red on the european wall. >> europe started 9 day down 3% in response to the sharp sell-off we saw in asia, but once the u.s. markets opened and started to rebound, europe came off the lows, though still clouting be low the 50 and 200-day levels, that technical traders pay attention to the indetention now down about 7% off its all-time high let's highlight the vehicle markets. germany, france, spain, the uk losing just about 2% in today ace trading, for the year german,is leading the decline, as financials in particular continue to underperform deutsche bank the big name there. that's currently make juny one of the worls you'll see in asia, china, hong kong, south korea are still higher for the year. here's what a lot of traders say. it's the story that's still pretty strong, on average so fair in the fourth quarter of 11%. you have 51% profits there still being hurt, guys, back to you. >> thank you very much, seema. >>> president trump has been tweeting about the on the government, and the stock market is higher. by 32% the white house saying about sto

seema mody has been covering that. >> the pullback was global japan, china, hong kong still in correction terr tire, down over 10% while india, brazil and russia are trading 6% below their recent highs the broader sell-off in emergen markets has materially been in line with the s&p 500, which god man sax is notable here's what's helping the broader e.m. story, organic growth are supporting deman for resources like russia and brazil, plus central banks are in the midst of easing global investors are looking to the bond market for direction. it makes emerging markets less appealing, because the average yield 6%, which of course is attractive when a you're looking at 2.9 here, but if that story inits, that may not be the case. >> thank you very much, seema. >>> stocking rebounding, now the best two-day gain, with investors seemingly going bargain hunty is paul hickey, cofounder of the spoke investment group let's start off with a question that comes to us in twitter -- is starbucks, a buy, sell or hold now what do you think about starbucks? >> i think this is an interesting question starbuck

. >> thank you, seema mody the dow is rallying, but ge getting hit once again, the stock hitting its lowest level restating two years of earnings and may also face legal action by the justice market. let's bring in rob cox, global editor at reuters, and james gray from -- dean, i'll kick it off with you do you feel you have a handle on what ge? >> that's the question that everyone is asking with ge, we said this at the beginning of year, because news has been coming in in installments we got another install after the close on friday, as you pointed out. the latest bad news was a potential doj action, on a legacy business so we're still not seeing a bottom. >> rob, that's bad news. you think it's dead money. is there a possibly a case that can be made for an investor who's looking for a deep, deep, you know, bargain? >> i think it's a classic value trap general electric is untangling what is almost 40 years of financial engineering. so it was the creation of ge capital, the financialization of the industrial -- one of the greatest industrial businesses in the world that took place, yo

jumping on the back of strong earnings and capping off what's been a great week for the travel stocks seema mody joins us with more on that sector. >> it was the unique visitors at trip adviser, driven 17% year or year, but it reported a decline in revenue at its core hotel business it was up 15% on the day, but it's now up about 5% on the earnings call. he failed to convince people that these two businesses offer longer term growth that can off' set weakness in hotels, especially when hilton, hyatt, marriott, all saw a sizable jump in bookings. this on higher room rates. it suggests more consumers are bypassing the online travel sites like trip adviser, expeople yeah, and priceline, and booking directly on hotel sites. on the earnings call, he says he sees this trend continuing, especially as loyalty programs become more attractive there is a more concerning story playing out that could affect future earnings for hotels according to the latest data, international arrivals to the united states is down, and it's really being led by the middle east and asia, travel executives will tell you this is

seema mody at the crypto desk with more on this slide. >> we have seen a precipitous decline in the pricef bitcoin, now down over $1,000 in today's trade. the broader picture, bitcoin is down 65% from its highs hit back in mid-december. overnight, china intensified its regulatory efforts going as far as banning offshore cryptocurrency and ico websites, making it more difficult for the chinese to trade digital currencies back home, a number of u.s. banks halting purchases of bitcoin with their respective credit cards, citing price manipulation as a risk that's complicated matters for consumers who may be trying to buy on the dip meantime, u.s. regulators are getting ready to testify in front of the senate banking committee with china, south korea, and india cracking down on the space investors are anticipating some type of regulatory framework from jay clayton who will be in the hot seat the hearing is set for 10:00 a.m. eastern, and those comments will likely be market moving, michelle >> the whole crypto world has that on their calendar for tomorrow thanks >>> another big selloff on wall

seema modi at headquarters with that. >> the announcements keep trickling in this time from avis budget brands will no longer provide the nra member discount. now, growing a growing list of companies distancing themselves from the nra and responding to gun violence we heard similar announcements from hertz, metlife and chubb. >>> chairman of a chinese carmaker has taken a major stake in daimler phil lebeau with details. >> his name is -- let me try to again. li shu fu, the chairman of chinese automaker and he's been known in the auto industry for a number of years. now he has taken a $9 billion stake in daimler what does he plan to do with that stake well, he will be the largest individual shareholder and he has made it clear that he wants to push them to do more when it comes to electric automobiles. daimler's expertise in electric vehicles has been attracting interest for some time not just from geely and shufu and others in china, but daimler is a huge player in china. mercedes is the number one luxury brand in that market. and the chinese government is pushing all of its automakers

to cover those results courtney reagan will bring us elf beauty, and deirdre monitoring square, seema modi numbers from booking holdings, and leslie picker will bring us results from hertz and express scripts. thank you. we'll see you in a couple minutes as this gets under way joining me now cnbc senior markets commentator michael santoli as well as michael from ubs financial services and chris burtelson joins us dow was up 2% at the last check. big laggard was disney after comcast said it will be going after sky. both chairs of comcast and disney disney down 4.5% on the bell on the s&p the big winner was aes while autozone dropped 11% to make it a big loser a rally down as well mike, real quickly, even though a lot of the weakness occurred much later than the original selloff, do we still tie it back to testimony from powell >> the testimony from powell obviously got treasury yields moving back up which took away this idea that maybe we'll get a reprieve for a little while longer on the interest rate concerns the dollar going up, as bill and bob were talking about, has also been a switch

rebounding today back up above 8,000 but not everybody remains convinced the bounceback is for real seema mody, why not? >> here is what we have. most cryptocurrency will crash to zero. that is the major headline from a goldman sachs report that compared cryptocurrency to the internet bubble of the 1990, head of the global investment team steve strongen said if you believe this is a few winners take most situation then the potential for retirement depreciation shoud be taken into account. and because of the lack of intensive value, the currency that don't survive will most likely trade to zero those bold words come after what has been a very volatile week for cryptocurrency with bitcoin trading down as much as 70% from the recent high. we are seeing a rebound today. yesterday senate hearing on virtual currency with the s.e.c. and cftc did add some level of reassurance and they are not looking to shut down trading but just add more regulation to the space. it is said to be behind the recent rebound with bitcoin now up over $2,000 over the last 24 hours. back to you. >> seema, thank you very muc

as we mention, expedia looking weak after its results seema modi is here. >> shares of expedia down over 15% in extended trade on what was a disappointing earning report 84 cents adjusted, well below wall street expectation of $1.15. revenue was weak, $3.32 billion versus estimate of $3.26 billion. what's interesting is when you look at gross bookings, they increased 14% year over year, slightly higher than anticipated. if you take a look at the broader yoof of 2017, gross bookings on homeaway platform competitor to airbnb increased to $8.7 billion. it touches on the broader challenges that the online travel industry has been facing, which includes intense competition, not just in north america but abroad as well plus, this trend that is concerning that touches on consumers circumventing the ota websites to book directly on the hotel sites. plus, increase in marketing. that's something we're seeing across the industry in hopes of kind of differentiating their platform from the rest stock down on this disappointing set of numbers the conference call starts shortly. we'll get you that comm

seema mody joins us from cnbc headquarters with the details. >> it's the lack of transparency which makesptocurrencies an attractive target for cyber criminals. that's a take away from this new report from digital shadows which said fraudsters are taking advantage of new cryptocurrencies by creating chair own co their own coins and performing exit scams and manipulating prices in several cases, pump and dump schemes to inflate smaller less well-known cryptocurrencies, using apps to disseminate the news digital shadow says social media is a breeding ground for crypto scams with spoof sites to trick customers into disclosing credentials. earlier this week facebook announced it is banning cryptocurrency advertisements. and the fcc has been warning the risks of investing in the space. they are set to testify during a u.s. senate hearing next tuesday. the topic is virtual currencies. there are ways to protect yourself analysts at digital shadow say be careful of unsolicited messages touting great returns, and enforce strong password security rules that's always important. back to you. >> thank

seema mody joins us from cnbc headquarters. >> price line is renaming itself to booking holdings.ange better reflects its business it has more than 1 point be point 5 million properties, generates on average over 1 million bookings per tai and is the primary driver of earnings vogel is betting that a change to the company's parent name will help it gain a larger customer base in the united states saying, quote, we're better known outside the u.s. than inside the united states by changing the parent name we expect people in the u.s. will have a better awareness of all the different things that we do now rebranding of priceline comes as online travel operators face intense competency competition from google, airbnb and traditional hotel operators. the latest report from rival expedia resulted in shares dropping 15% booking holdings reports next tuesday. joe, back to you. >> seema, thank you. appreciate it. >>> when we come back we're going to take you back to pyeongchang. andrew ross sorkin is there. andrew, what's coming up this time >> reporter: when we come back we're going to gi

also on set seema modi good morning >> good morning. >> let's talk about what's going on in the travels. what does this say -- is this a function of your own operations, dare i say, or do you think there's something going on in the large kber ee cr economy? >> i'd like to say it's us the travel business is going well gdp growing, people want to travel, we have great things to offer, we're doing well. >> in terms of the mix, hotels versus air versus everything else. >> well, we've -- for many years hotels has been a big part of our business. >> and one of the big questions has been, now getting a little bit off of your earnings, but there's been a lot of talk about airbnb effectively trying to get into your business and getting into the hotel business beyond what you think it used to be what is that going to do >> so i saw that announcement. look, we've had competition a long time. i've been in the company 18 years and there's been a lot of people in our space. we welcome competition any time. we believe that we offer a great product because we're out in that space that they're in we ca