straight from the fed, vice chair stanley fisher with his first public comments.hen will they hike rates and how will stocks react? >> we do begin with stocks near record highs yet again going for two straight up days for the first time since february. investors still trying to gauge when the fed is really going to start hiking interest rates. guys, you know, fisher's comments in about 20 minutes could be market moving. interesting comments today from james bull lard as well who has proven to be a market mover. let's listen to what he said. it's a pretty good jumping off point for a good debate on what's going to happen here. >> the temper tantrum in the summer of 2013 was all about markets being surprise z that the fed was going to pull back on qe sooner than they thought. so there was a mismatch between what markets thought and what the fed thought. and we do have some potential for that today. >> okay. so there is some potential says bulllard for the markets to have a total tan rum when the fed starts to raise. >> i actually think those little tantrums are very

but stanley fisher made it clear that the path ahead will be anything but smo and st. louis fed president james bullard also warned of potential volatility. but this time in the equity markets as the federal reserve gets ready to raise its benchmark interest rate. >> the temper tantrum in the summer of 2013 was all about markets being surprised that the fed was going to pull back on qe sooner than it thought. there was a mismatch between what markets thought and what the fed thought. and we do have some potential for that today. >> steve liesman has more on vice chair fisher's speech today in new york and the road ahead for rates. >> reporter: federal reserve vice chairman stanley fisher said the fed will likely hike interest rates this year but gave no clue as to what month, if he said it was june or september or some date in between or some date after, that essentially the increase will be from a fund rate to a low funds rate. >> here's how he put it. when we raise the interest rate as we probably will do one d from 0% to 25%, -- from zero to 25 to 25 to 50 basis poi

my hope is stanley fisher's view trumps richard fisher's view. s as wise as i know him to be he'll say when he understands a rate increase would normally be warranted, we can't afford to do it without provoking a needless crisis that could set the whole world on a collision course. currencies will adjust and contagion will be less likely. if the fed wants to show it knows something this time and not nothing like the last time, it needs to let stanley fisher's hand stay steady on the tiller and wish dick fisher well in his coming retirement. >>> after the break, i'll try to save you more money. teams collaborate around the world to actively uncover, discuss and debate investment opportunities. which leads to better decisions for our clients. it's a uniquely collaborative approach you won't find anywhere else. put our global active management expertise to work for you. mfs. there is no expertise without collaboration. take a deeeeep breath in. . . and . . . exhale. . . aflac! and a gentle wavelike motion... ahhh- ahhhhhh. liberate your spine... ahhh

this after stanley fisher and james bullard both say the u.s.nomy is strong enough to warrant a move. >> chinese manufacturing activity falls to the lowest level in a year fuelling concerns of a slow down. asia markets pair losses at the close but the data does weigh on the price of oil. >> chesapeake energy is the latest firm to slash production in the wake of weaker oil prices but carl icahn is bullish raising his stake in the energy giant. >> twitch which is owned by amazon admits it may have been the victim of a hack although credit and debit card numbers are not thought to have been effected. >>> we're just getting some u.k. inflation data. february core cpi has come in at plus .3%. that's slightly better than expectations but still a significantly low level. of course compared to past data. price inflation has also come in a little bit lower than forecast. u.k. inflation hits zero for the first time on record. that's coming. lower prices particularly for food and computer goods. consumer prices unchanged from a year earlier for the first t

stanley fisher is speaking again in germany in the next hour. blackberry reports fourth quarter results before the opening bell. in fact the ceo will be on squawk alley today at 11:00 a.m. eastern to discuss the smartphone maker's latest earnings. >> now still to come here on worldwide exchange the mystery surrounding the germanwings crash continues as investigators look for answers into the motive of the co-pilot. annetta joins us live after this short break. >>> welcome back. oil splits back in the red. the dollar rebounds. yahoo! tries to appease shareholders with a $2 billion stock buy back and tim cook joins a list of billionaires pledging to give away nearly all of his fortune to charity. >> french prosecutors are looking for a motive after receiling thursday that they reveal the copilot of a german wings plane deliberately brought the plane down. officials say the pilot was alone in the cockpit when the plane crashed. let's get more on the story with annetta outside of the airport. >> well we also here in germany have investigators lookin

stanley fisher speaking to the economic club of new york. >>> let's take a look at the other top stories. ted cruz is throwing his hat in the ring for 2016. he tweeted early this morning i'm running for president and i hope to earn your support. the 44-year-old tea party favorite will formally launch his bid later today in virginia. he become the first major party candidate to get into the race. >>> the new york fed could have its wings clipped by congress. politico reports two top republicans senator richard shelby and congressman jeb henzer ealing are considering a raid over wall street and monetary policy. the plan being pushed by richard fisher would revoke the permanent position of vice chair it would be part of positions but wouldn't have an automatic vote. >>> opec will not take on the role of supporting prices alone. he added nonmembers need to share the responsibility and should participate if prices are to recover. the u.s. futures dipped on the comments. oil near the six-year lows. brent off some 1.6% today. >> and another sell-off in oil prices. speaking of oil, the world's b

stanley fisher at the fed came out and said an interest rate hike is on its way this year. also reiterated by others. message from the fed right now that rates are going to go higher. i think that's keeping traders nervous which is why we pulled back a little bit yesterday. i think we might be on a firmer footing starting in the u.s. today. the futures are looking a little better but watch out for nerves around the statements. i want to move on. a lot of people traveling right now, scratching their head and asking if we've seen oil prices drop 50%, why aren't air tickets coming down? i answer. it represents the travel industry on the airline side saying in the u.s. profits this year on a net basis could be in excess of $13 million bel dollar. they put that out there at $85 a barrel. at $55 a barrel those profits are going to be a whole lot better but they're saying don't hold your breath just yet. the airlines are hoping to take advantage of the lower energy prices to take more profit off the table for some time to come. i don't see the headline airline ticket prices coming

stanley fisher professor of economics at the massachusetts institute of technology.the end of 1973 it really wasn't clear what was happening in the economy. i think there were two main reasons for that. the first is that the data were actually bad. the early data on gnp in 1973 showed faster growth than we now know actually happened. the second reason is that unemployment was still very low at that time, under 5%. so that for both those reasons it wasn't obvious that the economy was heading for a recession. the rise that we had in interest... schoumacher: so the federal reserve under the leadership of chairman arthur burns sought to fight inflation by restricting the money supply. in late 1973, the fed raised the interest rates charged to member banks. chairman burns believed a restrictive monetary policy was necessary, not for weeks or months, but for years to come. the policy of monetary restraint pursued by the federal reserve has helped to cool the economy by moderating the expansion of credit and disciplining inflationary psychology. schoumacher: but by the begi

. >> reporter: the policy could come next week with a speech by vice chairman, stanley fisher and janet yellin friday. tuesday, maybe most important the government will release the federal consumer price index. economists look for a 0.2% rise that will only partially reverse the 0.7 decline in january. so year over year and further complicating the outlook for fed policy prices will still be falling in the u.s. raising the question, why exactly are they going to raise rates? for "nightly business report," i'm steve liesman. >>> still ahead, strong as steel? not so much. why some companies in the sector >>> federal trade commission made the decision in 2012 not to sue google for alleged anti-trust violations. as reported by "the wall street journal" and based on a confidential report google's search algorithm would place its own services above those of its competitors in search for results. fdc experts wanted to sue the company but instead settled the the investigation in 2013 when google agreed to change business practices. >>> av steel the latest to warn about profit outlook. reason? t

to extend that law, however, so far have proven fruitless. >>> federal reserve vice chairman stanley fishero start raising interest rates sometime this year. he said there were no plans for regular rate hikes says. fisher made the remarks to the economic club of new york. >>> the supreme court declined to revive a lawsuit by singer and songwriter todd rundggren accusing somewhere p morgan chase of -- that objection let stand a lower considerate's dismissal of his lame for damages. crews in boston used explosives to demolish a bridge that had been closed due to safety concerns. the demolition is expected to be completed later this year. a new bridge could cost $80 million. the city has requested proposals on that. that is your cnbc news update this hour. back to you, brian. >> thank you very much. well, big move in oil into the close here. let's find out why jackie deangeles, we're seeing oil -- okay. maybe not. let me give you a quote -- it's called self-service television. the price of crude oil is up 82 cents. that's one and three-quarters move. this despite the fact that early today, rea

and we also get a full calendar of fed speakers which will headline on monday with stanley fisher, asell as yellen on thursday. the key is the wage component, especially with the fact that inflation is become the topic of discussion when it comes to bond trading. bond yields hover in the ten-year specifically right around 195. the jobs report can only push those lower. we'll wait and see. >> it may not be a good report especially with the energy industry. texas, louisiana. jeff, i don't want to harp on oil. what about gasoline prices. we're getting in the summer blend season. we usually see the spiking gasoline prices. what do you forecast now? >> underline that word "usually." yesterday that was geopolitical initiative into the market. gasoline showed tremendous strength. strong against heating oil. maybe a nickel to a dime rally in the next day or two. today, that went by the wayside. we closed miserably. lost about 8 cents today alone. again, that move up -- you have to wait awhile. we have to get way into the driving season. middle of the second quarter to get an idea of why our r

we hear from stanley fisher this hour with comments that could be market moving. >> and today beginsary january week on the halftime show. we have a great lineup. today we get stock picks. plus, the call of the day. it is a red hot biotech stock. not so much today. we'll see you in 15 or so. >> thanks scott. is china the future of film making? lionsgate inking a three-year deal with nearly $400 million with a chinese media company. let's get to julia live with their vice chairman. over to you. >> thanks so much. michael thanks so much for coming to talk to us today. before we get into the big news with china, i have to ask about the big movie you opened this weekend, insurgent. it was down from the original movie in the franchise you made a year ago. how problematic is this considering your big franchises tend to gain steam? >> only hollywood would somebody mention a 50 mlt plus opening not being great. we're actually very happy with how the movie performed. we're particularly pleased to see the uptick from friday to sad night. i think it's going to have great legs. >> so as big as h

rates on overseas markets, the man who saved the world from the asian contagion in the '90s, stanley fisher now the vice chairman of the fed. you know what? we are really lucky to have them both. so many hedge fund managers who need the market to come down because they're short or underinvested. so many screaming commentators who hate the fact that the fed is even important enough to impact real business and yes, politicians who wouldn't know that we were thrown back into recession within the great recession in 1937. goingle it. they can't believe that the yellen-led fed has a better handle on things than they do. so people step to the sidelines or sell for days leading up to the fed meeting as they did for the last three straight days and they wait for the big, bad event to end. when it is over they survey what's in the good news panel and then pass which is why i'm telling you to get that shipping list ready, before you miss your chance. right now you're witnessing what happens when those other investors pounce. perhaps you're wondering why didn't i act before when the market was down for

number one, would be vice chairman stanley fisher's testimony. >> on monday, right. >> which is importantnd secondly, the biggest near term risk to the market i don't think anyone is talking about it the high yield energy market. >> you're talking about the bonds in a lot of trouble at this point because of the declining price of oil. >> the contagion is back again, oil has rolled over. >> dr. j? >> well, i still think lower for longer michele. yesterday on the show -- >> for interest rates. >> not for the market. the market hasn't been doing anything. the market going like this. granted it has a heart beat but ends up unchanged on the week. >> back where we started. >> basically i think you look at lower for longer and who benefits from that, take a look at a stock like kinder morgan with nearly 5% dividend yield. they are not an oil exploration play. that is pipelines. 80,000 miles of them. there's stuff moving through those pipeline -- >> 5% yield in the market makes me nervous. >> it shouldn't. it should make you want that stock because -- >> i want the yield but is it a risk? >> shor

peter fisher stanley fisher richard fisher. confusing.d at making news. we appreciate it. >>> coming up, -- there's a lot of sperlings too. scott sperling talks investing and the fed risks. and later biomarin stock -- you got it now. just sixes ago. the company's ceo joins us in just a bit. mfs, we believe in the power of active management. every day, our teams collaborate around the world to actively uncover, discuss and deba te invtment opportunitie s. which leads to better decisions for our clients. it's a uniquely collaborative approach you won't find anywhere else. put our global active management expertise to work for you. mfs. there is no expertise without collaboration. it's more than the cloud. it's security - and flexibility. it's where great ideas and vital data are stored. with centurylink you get advanced technology solutions from a trusted it partner. including cloud and hosting services - all backed by an industry leading broadband network and people committed to helping you grow your business. you get a company that's more

stanley fisher is speaking this evening sponsored by the atlanta fed. >>> here is a story for the bothng up a case of window shopping. reports suggest amazon may no longer be in the running to buy the firm. we cross live to milan after the short break. >>> and these are your headlines. crude oil remains under pressure despite geopolitical tensions in the middle east. intel reporting a deal for altera. and apple ceo tim cook join standing against indiana's religious freedom law. >>> first, let's talk about fashion shares. reporting it could acquire -- this follows speculation last week that amazon was in talks to buy the online retailer. >> good morning. the stocks are suspended as the rumor continues on the market. this was a potential sale net-a-porter which was talked about a year and a half ago. it looked like net-a-porter was not ready now. they may be ready to merge now and that would create the largest online retail group that benefit from the in season with the net-a-porter. a lot needs to work out if the merger goes through. a profitable company is having double digit growth fo

. >>> stanley fisher the vice chair of the fed's board of governors said it is quote, about time for the central bank to consider raising rates. speaking exclusively on friday said it should rise in couple of months time. he was asked to give his take on a probably of a hike in 2015. >> i think there's a probably high probability. >> can you walk us through the reasoning behind it in terms of why would the fed raise rates? >> we have two goals, as you know inflation around 2% and employment and estimated somewhere around 5 to 5.3 5.5. we're at 5.7%. inflation is a situation it's low because of oil prices but we expect it to go up once. it is about time. we've got used to thinking of a zero interest rate. it's far from that. >> still with me is the chief european economist at ubs. let's look at the situation compared to the european situation. the u.s. bond market reacted in a number of week says. the euro falling below 112. expectations because of a u.s. rise or about to have bond buying start again? >> i think the bond buying in europe has been present for some time. i think it had

. >> at least for the me the takeaway from stanley fisher's speech on monday is they are just itchingiftoff to at least begin the process of normalization, that word they keep using that would take us back to a normal set of interest rates. >> i absolutely agree. how many times did he mention "normal" in that speech. we heard from jim bullard. the more they stay at this the more they risk bubbles. they see the glass half full instead of half empty. some of this data could be taking a turn from the worst. that might be why the industrial sector is increasing. >> close to 300,000 is outstanding. how do you put that together. >> they are never going to get their perfect scenario. >> saying in a speech on monday in new york well it's never sew it is absolutely clear this is the time we have to do it. he said earlier we never should expect rates to go up when inflation is 2%. still amount of things for us to talk about. >> lots of articles, greg. it is getting passed all over the streets. >> one last point. >> yes. >> i think the baseline scenario has to be that things do start to improve

. >>> stanley fisher speaking in frankfort this morning saying the nonfinancial banking sector is lessisis. perhaps just another indication that the safety will cause the fed to raise rates this year or will the strong dollar and wild swings in oil prices continue to hold the fed back? joining us is the black rock chief executive officer and co-head of america's fixed income, rick good to see you. >> good to see you, thank you for having me. >> so before the fed's meeting last week in that statement where they said they hadn't decided on the timing of the rate hike you said the timing doesn't matter yet we're trying to decide when it's going to happen. give us your latest take? >> that's totally right. the market's focus is going to be is liftoff september or is liftoff in june? we belief the window is for them to move but they will probably wait until september unless you have a strong payroll report and other data. there are two other things to make more of the difference. it's their pace they move out of and the destination they go to. we think they will be deliberate. we think the

. >>> we heard from fed vice chair stanley fisher yesterday, and he seems to be moving closer to their, ms. yellin. will rate hikes come later rather than sooner? let's discuss this this evergreen topic with ron insana. it really is. editor of market intelligence at market fi.com and our senior economics reporter steve liesman, which suggests there is a junior economics reporter though i've never found. >> 17 of them. >> 17 of them. >> they've been deputized and not been told. >> basically what's happening here is that mr. fisher has moved a little closer to the later rather than sooner camp? >> it sounded like he was walking back -- actually the comments he made to steve liesman a little over a week ago where he said middle of the year we'll start raising rates, and then he said we're going to start -- we'll get there by the end of the year, and it sounded to me like a walkback. then when you look at the broader array of what's happened at the fed, when you see the dot plots coalessing around and lower inflation, kind of where janet yellin is, it seems to me that she's still in cont

you've got the federal reserve, stanley fisher speaking at noon. oil down across the board. again, saudi output rising to a near record 10 million barrels a day. of the 50 or so oil related stocks that i follow only about ten, 20% are up over the past month. all down more than 20%. goodrich petroleum down more than 40%. one group that has been completely i think ignored, the offshore drillers. they're down worse, when you've got the -- hercules offshore. you can't even mention it now. >> all difficult. ensco, a very modern rig system. the number of rigs coming on is shocking. people don't understand it's about supply not necessarily demand. >> the ten-year treasury yield at 1.92% or so. again, down from our recent highs. but let's not forget jim. yes, we're down in the near term, but we're actually higher than we were by about 30 basis points for our lows so far in the year. >> excellent. >> also in our road map this morning, shares of gilead sciences are down. could be the big stock story of the day. the company warning of complications related to its hepatitis c drug. chuc

that's because of things with stanley fisher told me get ready for interest rates this year.so the fed probably removes patience. lowers its assessment of the economy and signals it will await confidence in the inflation outlook. i think that's the key before raising rates. still leaving the impression that rates need to rise. i'm looking for the fed. remove patience guy. playing that word game. just like we were signal patience as well. >> we are joined by jeff rosenberger, chief investment strategic for fixed income at black rock. so many different angles jeff pipe remember in the past i can't remember your basic stance. i don't think you wanted them to hurry in the past. were you looking for 3% on the ten-year? there's something that i remember disagreeing with you? >> our expectation for the ten-year is 3.5%. we talked about the fed can raise interest rates and it's all about that pace less about is it june is it september? it's really about what happens the day after the fed raises rates. we talk about what is the pace of normalization. >> we had had a discussion earlier

yesterday we had dick fisher saying we needed to tighten immediately. i'm hoping stanleyr run on brazil mexico turkey south africa. if we tighten right now. i think that was what yesterday was about and i feel better today. >> jim you want to talk about the eagles at all or no? >> no. >> i saw your tweet. i thought i'd check. >> why do you hurt me scott? >> i don't know. you're number one fan, i want your reaction more than anybody else's. >> i'm a fan. there's a master plan here. i know it's not just to get guys off the operating room who have had their knees redone. it's just not about knee surgery here. i have to believe that. >> does this translate to villanova, too, or not worry. >> i'll take villanova in a bracket. i think it may have an easy path who has the easy path. >> today starts in earnest. big east tonight. i'm picking big ten rutgers -- no. sorry. i'm starting on you. >> thank you, guys. >> starts tonight, though the tournament? >> some of it. >> not the big the other ones begin. >> coming up now the time to take a contrarian view of the markets? countdown