telcos down 3.3%.oming back from the basic iterial stock as well as mentioned in australia, seeing those companies coming under pressure. in japan, a week performer down by 1%. , money isng these going into treasuries meaning the yields on bonds, particularly in japan down. so far, below 0%. having a look at australia, the yield is faring a little bit better than 2.4% but the japanese have been coming under a lot of pressure. the japanese yen back in focus, pushing past 115 to the dollar. the u.s. dollar down around a third of 1%. 48 and also14 seeing a rush into the gold, up 1/10 of a percent today. it had its best start to a calendar year since 1980. -- stors look woody's they bank of america, merrill lynch, said they could strengthen another 3.5%. >> the negative interest rates meant to help drive money and the younger weaker good. weaker. no further liquidity coming into the system, and that kind of limitation and question of the boj has worried. rishaad: one of the -- we talked to nick smith. nick

relatives of inmates gathered outside the telco chico prison in monterey. the government says 52 people died after a fight broke out between two rival. -- groups inside the prison. 12 people were injured and five in critical condition. the governor says two areas were damaged and fires set -- by fire sent by inmates. >>> the federal grand jury is hearing evidence in the death of frederick garner. daniel pantaleo put him in a demonstrations with protests chanting i can't breathe. federal prosecutors began presenting evidence on wednesday to grand jury. the federal inquiry began after staten island grand jury declined to invite -- and -- indict the officer. >> five people face criminal charges in the gas explosion that killed two people and leveled three buildings in new york city's east village less mark. the owner of one of the buildings, two plumbers and a general contractor face charges. they range from second degree manslaughter to criminally negligent homicide. authorities say they've participated in illegally siphoning gas from the apartment building f

telco is not a real sector. we're really being led by utilities and i wanted to look at the spread right now. this is a trailing one-month basis, but what's important is these are some of the oldest aggregates in the world. this data goes back to the 1900s, and what you have here is a spread that you can see of almost 1,300 basis points meaning first month of the year the utilities outperforming the industrials to that extent, hold that thought and we'll let some charts out there and with a very slide here show here's the optics of it, two indices and we see the pulling away of utilities and the spread there which is here newarkicically. okay. what we know is the issues are an entire bull market and an '09 low and the utilities basically asenned, sure, but they have underperformed as would be expected in a bull market, but for the first time now since '09 we are now starting to get above the relative downtrend line that's been in effect the entire bull. this is the kind of thing that happens when things are not

this is what's working, and at this point maybe utilities a little overdone as we've talked about and telcone crazy. this kind of thing is unchanged. coke is -- >> none of the sectors broke out to new highs, they were coming off of conditions very difficult. trading 16 months ago at all-time highs. >> all time high absolutes, 17-year lows relative. >> bond proxies and they have been secular pressures -- >> last word, mike. >> well, that's not what we're seeing. the thing that caused the dollar to rally is rising rates and if rates are falling we could see the dollar stabilize or go lower. >> right. >> which is a tailwind. >> i just think that the staples have actually caught this bid trading where they are given the commentary that they have given and seen it out of pepsi this week. it hasn't been good. >> yeah. that's what makes a market. >> got a question out there. send us a tweet. for everything options action, check out our website, the hottest options news, videos from throughout the week and exclusive trades and it's like you've died and gone to options heaven. here's what's coming u

of australian telco subsidiary so profit rise over 9%. a dual listing for saudi aramco in return for extra investment. it along sideed saudi exchange in return for investments. that is according to people familiar with the matter. the proposal was made earlier this year, but no decision has been taken. this could make it one of the biggest companies in the world. that people who are familiar with the matter that thatronco is considering -- that are bronco is considering could raise $5 billion to $10 billion. thats made it clear reserves are not for sale. 16% of china's foreign oil, it's largest supplier in 2014. the chinese president visited riyadh last month. rishaad: we'll take a break and come back. india dismissing wild claims about the country's banking system. mumbai toding over to find out what he is saying to reassure investors. the yen stores. -- sewers. ars.oresd ♪ havead: japanese officials stepped up expressions of concerns about the soaring yen as it threats to cut exports and profits overseas. tokyo is wisdom tree japan chie

it was still staples and telcos. factor ise credit informing that. so long as credit is under pressure this likely persists. scarlet: going into sovereign bonds with negative yields, we continue to see more and more countries that support yields in negative territory. alix: we can make the -- guest: we can make the , maybe it is u.s. 10 year yields that are high. the flattening of the curve is certainly a reflection the bond market is going to press the fed. alix: we didn't see a lot of action in the treasury market. we had selling in the two-year due to the i increase. guest: that is one of the reasons we are reluctant to say this is over yet prayed we have not seen the stress or fear. the fix is moderate. alix: what will make you say ok that is severe panic? 1%? outt: i don't think it is of the question in the next couple of weeks as we work through this. the bank stocks are a reflection of that and this leadership profile is reflective of that. scarlet: what is leading this latest leg of selling? is it the banks? have we changed over? guest: what

so have e largest telco company verizon which ught aol already telling you it wants to buy yahoo!ndou have a ceo who doesn'deny her company's se a for sales. should we be shocked yoo! has a committee to consider the overres om veriz andhe adam ierview? yahoo! goes high but d't be surprid here. the marketan bdiffult to figure out and 2016 has been a nightmare. can we stipula o thing? wh tnds are so proced executives show you at the are abouto dor what's happening the industry, shld we ju ignore commts and act all ocd when things unld as predicted? , we shoulprofit and avoid tential sses. the possilities an rtunities there to be ha you just need to listen. you need to lien to what t darn ceos re saying here on your tv screen. stick with cramer.up. that's so interesting honey because i'm going to share a photof my eggoaffle whent po up. l'go my eggo eg my eggo (answeringachine) he leava message. hii kn you're there, 'cause ian see y. anncr: some things are toodelious to share. goldenrispy, warm and fluffy eggo waffles. eggo my eggo. olay t eectsa innsrmatnthativs th leing department

so you have the largest telco company verizon which bought aol already telling you it wants to buy yahoo! and you have a ceo who doesn't deny her company's assets are for sales. should we be shocked yahoo! has a committee to consider the overtures frfr verizon and the stock going up? how sit for those who saw the mcadam interview? yahoo! goes higher but don't be surprised here. the market can be difficult to figure out and 2016 has been a nightmare. can we stipulate one thing? when trends are so pronounced executives show you what they are about to do or what's happening in the industry, should we just ignore comments and act all shocked when things unfold as predicted? potential losses. the possibilities and opportunities were there to be had. you just need to listen. you needed to listen to what the darn ceos were saying here on your tv screen. stick with cramer.up. that's so interesting honey because i'm going to share a photo of my eggo waffle when it pops up. l'eggo my eggo l'egeg my eggo (answering machine) hey! leave a message. hi, i know you're there, 'cause i can see you. i'm ca

third positive, thhigh yield debt markeislagued by the decline inprint nd the telco company. sprint's onnnc a $4.4 4. of 2%f the mark cap. certainlthavneto decline in the company fortunes and bster ability ri at&t and t-mobile. the coon stockumped but it bout the cret side of the ledge er. i have to get it tough to you cause the stocmarket is often smallethan bond market wit comeso the direion overalof wt we are looking oil angas pipeline buness hasn cking pital ouof the markeleft and right. en you when youead that warrebuffet ught6.53 milon shares, pipene giant kindegan inc. in the open market bheartened. kiermorgan would slashhe dividend idember and is now the first the compaes to sestock bound above where it was when the dividend was it'seen deknelof most of thescoans. speaking of hedge fund that is give pipeline it is stocks a boost the ne that da tep's aloosaund picked up energy transferartnerlastuarter ter e stk broke down dangerous acquisition of wiiams cpanies. at made us feel mo sanguine, escially me since wewn a stin it actn owners plus.com. the equity williams de i

like a telco, verizon. definitely looking at it. they have gotten some engagement going on.ut i've met with a lot of them and i think confusion would be one thing. the second part is whether jeff smith there star board value will initiate a proxy fight. i think he still is. i think there is a question who is in charge here is a really good one. >> lots of drama still to come for sure. let's move on to linkedin. on track for it worst trading day in history following weaker than expected guidance for the current quarter and full year due in part to slower ad growth and slow are follow-on growth of selling products connected to the core recruiting product. but look at linkedin down 40%. tableau down 45%. splunk down 23%. workday down 15% this morning. sales force down 11%. what is going on in enterprise software among this cloud cohort largely, cloud social, call it what you will, but was supposed to be a big growth hope. do you think investors are losing confidence, sdoes it reflect something you see happening on the ground there? >> i think it's a worry about growth. i think

third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. sprint's owner announced a $4.4 billion buy back equivalent to 4.2% of the kashlt market cap. certainly they have money to throw at sprint to stave off the decline in the company's fortunes and bolster the ability to stay competitive versus verizon, at&t and t-mobile. the common stock jumped but it is about the credit side of the ledge er. i have to get it through to you because the stock market is often smaller than the bond market when it comes to the direction overall of what we are looking at. the oil and gas pipeline business has been sucking capital out of the market left and right. when you read that warren buffet bought 26.53 million shares, a pipeline giant kindermorgan inc. in the open market be heartened. kindermorgan would slash the dividend in december and is now the first of the companies to see stock rebound above where it was when the dividend was cut. it's been the death knell of most of these companies. speaking of hedge fund that is give pipeline it is stocks a boo

utilities and telco stocks are suddenly looking sexy. >>> plus, mike santoli keeping it conservativeome under-the-radar ways to add income to your portfolio. >>> all right. it is a sea of red out there as you know this year. the only two sethors in the green are telecomand utilities. both up more than 5%. what do you guys do with these? do you stick with them or bail? steph. >> i think you probably stick with them for now until you get more certainty where the economy is going. right now we are talking about people think there is going to be a recession. >> where do you get yield otherwise. >> consumer staples. the three groups. barbell it with some industrials. in fact, industrials have held up well year to date. probably because they got beaten down so much but i think you definitely want a balanced portfolio. >> what we were saying before the break, as crude oil falls apart again, at $28.70 the stock market has weakened as well. there is your crude picture. at the lows of the day. stocks are following suit. we'll keep our eye on that. as people look for the safety trades we were j

telco? >> no doubt about it. >> leading us day-to-day after day. >> i would also like to see a little bit more of a broad based rally rather than monsterous moves in energy. monsterous moves. look at the move. a lot of guys are giving me flak because i still hold the puts in that. a i have been able to rachet down the entire way as the stock has gone lower but you hold on to something like that because this move went from $4 to $8 almost overnight. those are the kind of moves we're talking about right now and is that sustainable? is that a dash for trash? is that a little short covering? what is it? that's some of the concerns. >> let's bring in another voice to the competition. somebody crushing the market already this year. many hedge funds obviously having a tough ride. roy is up 16%. he is the founder and manages 850 million dollars. it's good to have you here. thanks for coming in. congrats on the success. a lot of it is due to a computer program. tell me exactly how your strategy works

coming up tomorrow, we're going to be speaking to orange about what telcos are doing. also, very interesting conversation to be had with mastercard, talking to us about using selfies to authenticate online purchases. that's going to be interesting tomorrow. and let me throw into the mix millicom. guys, back to you in the studio. >> thank you, karen. yeah, the person who invented the selfie stick, they're laughing all the way to the bank. >> to be fair, i did see one of those in thailand years ago and said we've got to bring those to europe. >> but you didn't. >> i know. >> head online as well, cnbc.com, for all the latest news. there's tons of stuff on there. >> and karen was just talking about how the conference, the mobile congress was really picking up this debate going on between apple and the u.s. government over essentially hacking the devices to get information that the fbi deems essential to national security. that's now really dividing tech titans around the world. tania brooiier joins us now. >> reporter: hello. good morning, ladies. that's right. i talked to

also the iphone seven, as we get closer and closer, you have too many telco companies saying it's going ab big deal. >> i did want to talk valeant, which we have been mentioning. the stock is down about 7%. mike pearson who has been out on medical leave has rejoined the company as ceo. however he will no longering chairman. there was an interim chairman, mr. ingram, who will take over on a full time basis. i reported last week mr. pearson was ready to come back to work, but there was some division on the board as if that would be best for the company. so he did come back, but he is no longer chairman. the stock is down largely because the company has withdrawn guidance. it was supposed to be speaking to the street today. you would imagine the timing of that is somewhat difficult after mr. pearson has been out for a couple months, to come back immediately and start speaking to the street. they expect to provide preliminary financial information for the first quarter of 2015 and 2016 guidance for the near-term. it was a withdrawal of its prior financial guidance that's concerning investor

the other opportunity that is interesting is in the telco space.ers in india. more people have a cell phone in india than they have access to a toilet for example. matt: i have a chart that shows flows are coming drastically out of india over the past half year. i wonder why. what are we missing here? as i said earlier it seems to be the only letter left standing as far as the brick countries are concerned. katie: therein lies the opportunity. we have had a lot of investors voting with their feet against emerging markets outflows in india in particular are you did this is a reflection of people being scared. this is the moment we would encourage people to be bold, stick with positioning, and add to it. stephanie: nearly risk off. what is the rationale? matt: this chart on your #btv.erg, g# b stephanie: what is the rationale? off.: i think it is risk emerging markets do more poorly in an environment where there is less risk appetite and people are reacting to that end with the are scared they are buying gold and selling emerging markets. jonathan: h