. >> hi there wilfred. good morning to you.pple shares falling another 2.5% on tuesday on continued worried about slowing iphone shipments. those concerns fanned by a report in the nikkei business paper. the company plans to cut production of the latest iphone by 30% this quarter due to mounting inventories. production will return to normal next quarter. forecasts by some out ward suppliers is stoking fears iphone shipments could fall for the first time and growth is more difficult as the smartphone market continues to mature and that's bad news for apple as it depends on iphone sales for the majority of its profit. >> i do think it's getting hard tore really differentiate yourself from what else is out there. if you take a look at most smartphones they're all rough through same size and thickness and the differentiation is in the software but even at that level they're all the same. consumers would like to be dazzled but it's hard to guess what apple can do this year to dazzle people. >> at 102.71 apple stock lost a quarter of

i think the big question is what does the fed, wilfred, say in the statement? how do they telegraph they're watching some of the pockets of weakness in the economy, notably in industrials and manufacturing, even some sluggishness in retail sales and consumption, while at the same time inspiring confidence and telling the market we're still on this tightening path but we see what's happening with financial market conditions and with weakness in the economy. >> absolutely right. tough tight rope to walk for janet yellen in terms of phrasing this statement. she's got to instill confidence that the domestic situation is good but not suggest she's not even considering what's happening around the rest of the world. >> i would say she also has to quiet the critics a little bit or just be aware of the fact you have major investors saying that the fed needs to be easing, not tightening. >> i think that's going to be a bigger theme, pushing back on the critics. i think she will maintain quite a serious level of hawkishness and suggest we are still on this rate hiking pat

. >> i'm wilfred frost. we look to be in for another roller coaster ride this morning, so buckle up. while you were sleeping, here's what happened in the markets. chi china's stocks got slammed with selling accelerating in the final hour of trade. the shanghai comp dropped to its lowest level in a year. despite efforts to lift sentiment ahead of the lunar new year holiday. a big part of the story again is energy. oil prices sliding back below $30 a barrel. let's have a look at price action today. we're down by about 1%. wti, 29.95. brent just above 30 as we look at things this morning. >> stocks around the world are following asia lower this morning. we're looking at another global market selloff. let's show you what u.s. futures are doing. they've been hovering around negative 100, at least on the dow, pretty much all morning. they're off the worst levels of the session with dow futures now indicated to open down 66, s&p down 7, nasdaq down 24. this after a late selloff yesterday brought the dow down to clo

. >> and i'm wilfred frost. >> the bank of japan taking the global markets by surprise.he boj cutting interest rates below zero for the first time in its history. >> japanese stocks swinging wildly in the wake of the announcement. the nikkei had been down before the news then spiked by as much as 3.5% before dropping to be down 1%, and by the close, up 2.8%. >> you would say it had the desired effect there. let's show you what happened in japanese bonds. the yield on that benchmark ten-year bond dropped to a record low. yie yielding, what -- >> not 0.1%. >> this is historic. we've seen this kind of policy from mario draghi in europe before. we've seen it in places like switzerland and denmark. now japan takes the plunge. check out the yen. the yen sinking, easing hurts a currency. boy, did we see this currency take a tumble. earlier it was down as much as 2%. that's a strong u.s. dollar. hurts corporations in america, selling abroad to japan. we're still getting a nearly 2% move here. >> as for the global market rip rl effects of the bank of japan decision, the rest of a

i'm wilfred frost. >> and i'm sara eisen. u.s.futures under pressure after two-day gains thursday, friday. strong gains on friday giving back early action in europe, lightly trading. lightly lower. oil is down. that's hurting futures. s&p futures down one. they recovered a bit. dow futures down 28. nasdaq down 7. >>> here are the big stories you're watching this hour, johnson controls in talks to buy tyco international. johnson controls manufacturers batteries and heating equipment. tyco is headquartered in ireland. so a purchase would let johnson controls cut its taxes by moving its domicile from the u.s. to ireland. but no word on specific terms or indeed if johnson plans to pursue that. >> hillary already said she could have an excise tax. we're watching twitter this morning. the big el upheaval since jack dorsey returned as ceo. the held of the company's product, engineering, media and human resources team are leaving. and twitter will appoint two new board members and high-profile media personalities. twitters by dorsey said

. >> i'm wilfred frost in for bill. the two big stories facebook and under arm our, whether these are the must have stocks for investors. >> oil rallying on reports that russia and saudi arabia are considering production cuts. >> health care and biotech stocks have a hit today the the massachusetts attorney general is wants the company to cut the price of hepatitis c treatment and will make her case coming up a bit of wild ride for harley-davidson despite cutting guidance, shares up better than 3% and the ceo will join us live coming up on "the closing bell". >> facebook soaring after smashing the street's estimates in its earning report last night. apple has reigned as one of the most beloved stocks for investors for some time. is it time for facebook to take that spot? >> an internet with jp morgan, $127 price target, doug, thanks for joining us. i don't know how you compare facebook and apple other than quite obviously facebook has the entire market's momentum behind it. >> in our view facebook is really just in the

wilfred, this is a hard one to follow.he cutest factor, overload in looking at that panda and now you. so, talk about the fallout, wilfred. >> i'm glad you played my video earlier snowboarding behind the car in downtown times square. i have to say this time last week, i was skeptical that can would be quite as bad, people rushing to buy bottled water and canned goods. i would say it wasn't quite as cold as people said. it kind of felt like you were in a ski resort. new york city itself not quite as bad as some of the areas. travel chaos certainly has been in play for the last four days. get this number, 13,000 flight cancellations over the last four days. still a lot of the main airports closed again today. new york city's main three did open yesterday. washington's opened today. but from massachusetts right down to georgia, it remains a lot of airports closed. and clearly, that has caused a great degree of disruption for travel. but, it was a lot of fun, overall, i have to say. please, week back to work today. people seem

so you came at a good time, wilfred. although you guys have some wacky elections over there too. don't act like we're some circus over here. >> i'm saying it's exciting. i'm looking forward to covering it. we had a great election last year and things since then changed sharply as well. so it's very interesting political dynamics everywhere and across all of europe we had lots of people coming out as well. it's fascinating. >> don't you have fisticuffs until the house of commons all the time? if you go a week without someone throwing a punch that's a big deal? >> you're right. but they have been more subdued. he has taken a slightly different approach but you're right. there's always lots of fisticuffs in the u.k. as well. joe we look forward to covering the election and seeing if it effects markets as well. >> i heard your comments about china. i didn't realize that they were sort of being halfhearted about the -- i wonder if we know if it's really halfhearted. i wonder where we would be if they hadn't done anything and

>> well, wilfred, actually yesterday was nothing more than a proverbial dead cat bounce.t was a rather lively dead cat to be honest but only a temporary circumstance. i do think this is a bear market. it began globally last may. it only became obvious here in the united states over the course of the past several weeks. yesterday was nothing more than a modest direction and i'm afraid prices are headed lower still. >> oil sinking below $30 again for wti and brent. that seems to be a huge area of concern and anxiety for stock traders. i read a lot about iran coming to the market within the next few days and that's what is pressuring crude. the china story and demand. what is it that you think is this gravitational pull downward for the price of oil? >> well, sarah, simply put there's a lot of crude oil out there. it's bidding for storage everywhere. they continue to get wider and wider. it's a problem that people are not paying much attention to and should. what has captured everybody's attention today and the course of the past several days is that brent moved to a discoun

i can only comment on that one. >> smooth. >> well, you just proved them wrong, wilfred. thank you very much. have a good day. you're still just waking up. so slap your face a little bit and wake up and have a good show later on. still to come later on in the show, netflix shares are down as much as 10% so far in 2016 but the movie streaming giant set to report it's fourth quarter earnings later today. will the result bs a smash hit or go straight to dvd? we'll be right back with more here on street signs. good morning, everyone. >>> welcome back. you're still watching street signs. 11 people including five police officer us have been killed by a suicide bomber targeting a police checkpoint. that's according to multiple reports. at least 17 people were also wounded when the bomber rammed his motorcycle into the checkpoint. the u.s. national guard has deployed additional support to flint michigan to assist with the city's contaminated water crisis. tests of the water supply have shown elevated levels of led after city officials tried to save money by taking tap water from

. >> i'm wilfred frost. >> we have a very special guest for you coming up in a few minutes. imf deputy managing director. the number two will be joining us live from davos to talk about the state of the global economy on a critical week for markets. >> but first a big bounce in oil prices this morning. check out these numbers. a rise of around about 5% for brent and 4% for wti. we're back above 30 for both measures of oil. 30.7 for wti. 30.6 for brent. among trns a cold snap in the u.s. and europe. plus some analysts say traders with record short positions are looking to cash in after a huge drop in crude so far this year. >> while you were sleeping we saw huge moves overnight in asia. thanks in large part to that bounce in oil. the nikkei in japan closing higher by nearly 6%. those are the biggest daily gain in more than four months. stock there helped by a weaker yen. comments out of the bank of japan. also giving speculation that central banks are back in the game. boj might unveil new stimulus measures at the policy meeting next week. as for the rest of asia, here's how

it doesn't mean it's correlated on the way down. >> read wilfred's piece from november.o trade these stocks in asia. good insight on the economy. when we come back is the u.s. economy in trouble? we'll ask drew matus when we return. he'll help him help us make sense of these market moves. you're watching c nsh nbc. first in business worldwide. >>> welcome back. crazy moves this morning. shanghai market is down 7%. germany down and the rest of europe suffering too. dow opens at almost 400 point declines. and interesting the u.s. dollar is weaker against the yen and the euro. >> all about the japanese yen and gold and treasuries in terms of safety. with the health of the global economy in doubt we turn to true that joins us in studio. the chief economist at ubs. thanks for joining us. your thoughts on china and the spill over effect. maybe not such a big exposure as far as u.s. companies and the u.s. economy but certainly a big exposure globally. >> it's certainly a kicker. it's important to note. if you look at the data, it will show a pick up in u.s. export orders. so ei

let's get out to wilfred frost at cnbc headquaters. wilfred, it seems to be more of the same from the retailers reporting disappointing sales through the end of the year. >> there's a mixed bag in fact there nancy. nothing stellar perhaps but some were less bad than expected. urban outfitters one of those names. in fact l. brands were pretty strong and gap was one of the negatives and continued to close some stores. macy's was disappointing. it said it was also laying off stock so that is something to watch ahead of this nfp release later today. the general theme overall so far, we're still early stage of these retail releases is the point that consumers wasn't as much. amazon.com captured 42% of online sales. so that did particularly well. of course, we have to bear all these stock prices with a pinch of salt. looking at how much the u. s. futures have been moving following moves in asia and netflix say great example of that. it announced this week that it wasn't even going to launch in china and yet it's been as effective as everyone

. >> i'm wilfred frost. another day. another wild market ride.et's bring you up to speed on the overnight action in asia. we're staring at losses for the main ones. stocks posted early gains but quickly reversed course in afternoon trade. the shanghai composite touching the lowest level since december 2014. the hang seng dropping to a three year low. you can see the moves across the board there. we also saw japan move down as well. shanghai pumped money into the financial system ahead of next month's lunar new year holiday. offering more than $60 billion worth of loans to commercial lenders today. if you look at this week's net cash injection it's the largest number in four years. that's into the money markets and not the stock markets. in japan stocks were up nearly 2% at the highs of the session before closing lower. more from sri in singapore in just a minute. japan of course fell sharply yesterday entering into bear market territory and cemented that move today. >> also see a strengthening yen. that doesn't help. >> at 5:00 a.m. eastern time

. >> wilfred that brings us to today's trade of the day.er it's worst two week start to a year ever the dow standing just below 1600. that's a key ipsychological level. our data team crunched the numbers to find out which dow stocks could lead the way if the blue chip average does snap back. here's what we found, cisc cisco visa, ge and boeing topped the list based on how oversold they are. just a snapshot based on what has happened in the past according to our data. go to cnbc.com and check out cnbc pro. >> among today's big themes for the markets, questions about the global economy and earnings season getting into full swing. joining us is the chief market analyst at the lindsey group and cnbc contributor. good morning to you. >> good morning. >> great to have you with us. when you joined us a couple of weeks ago pretty bearish in terms of the outlook. has that changed? there's been a few positive bits of data that suggest the recent market moves may have been overdone. >> what's most interesting is that the bear market actually started i

. >> i'm wilfred frost. we're following a deadly situation in jakarta at this hour. police arrested four suspected militants believed to have been involved in a gun and bomb assault in the center of the capital. three suicide bombers exploded devices in a starbucks cafe. in total as many as six explosions and a gun fight leaving at least 7 dead. no one immediately claiming responsibility for the attacks. we'll have a live report in a few minutes time. >> but first, let's bring you up to speed on the big market stories of the morning. another brutal session on wall street yesterday. a mixed session in asia overnight. the nikkei in japan closing down about 2.7%. that was off the session lows. stock there dropped more than 4% at one point catching up to what we saw on wall street yesterday. also locally some new data there showing japanese core machinery orders fell for the first time in three months. check out what happened in china. bucking the trend, stocks turning higher in the afternoon with the shanghai composite closing higher by 2%. all the attention these days

let's get to cnbc's wilfred frost with more. >> how are you doing? absolutely right.urope is very much involved with this sell-off. germany down about 2.5%. the rest of europe down about 2%. don't forget that yesterday europe didn't catch the bounce that the u.s. got, so the sell-off today to the downside perhaps even more of a negative surprise than the moves we've seen in the u.s. today. over the course of the year-to-date, we're looking at germany down 11%, wiping out its 9% gains last year and similar large moves across the board in europe and that question being asked, does oil really have that much of a negative effect on european economies and markets? does china really have that big an effect on the european economy? if we look at some of the stats, yes, it's the second biggest trading partner for international trade for europe -- >> so wilfred, at least one thing europe has going for it is the ecb is in stim lay tiff mode. >> it's very, very true and we have the ecb meeting next thursday so it's important to focus on that. people would say it's not quite as i

wilfred williams says the victim may have been walking south of divisadero street in the crosswalk where the northbound bus on divisadero made a turn around. police say some passengers were on board the bus during the collision but none were injured. police are looking where the driver or pedestrian crossed the red light. >> i thought it was someone i might have known like a homeless person i used to help out here. i know people that work in this area. maybe they were getting off work. who knows. i was curious to see if i knew anyone. >> the bus driver and the driver are cooperating and doesn't appear that alcohol was a factor in the crash. >>> the public getting a first look inside the tour bus that tore through san francisco's union square. the photos have been released showing the damages to the vehicle. 20 people were injured. the driver claims the accident was due to failing breaks. after the investigation, four were taken out of service for mechanical problems. in future inspections, the company's operating license could be revoked if the bus conditions are not improved. >>> a big

wilfred, you have been busy since we talked last. >> good morning.an't believe it is still morning time. there we go. let's just frame what this chinese yuan debate comes down overall. the key question is whether they are letting the currency slip on purpose or whether the private mark it is is taking things out of their control. market moves suggest investors think the latter so far. i have now had some perspective from some managers in london. one reminded me of the amazing job the chinese have done on managing from rural to urban. this is the next step. have faith. they will get through. that was the sentiment he was saying. he reminded us of the point we were discussing earlier. on a trade-weighted level it was flat, positive, not down. we are here in the u.s. with too much focus on the yuan move against the dollar and even against the dollar. although, the chart looks quite scary. flat for so long and the sharp selloff that we have seen. only a few percent move. the yen, euro, the rayal. he also said the pbc cares only about its own economy, not

. >> and i'm wilfred frost. happy friday, a big rally on wall street but don't let today's green fool you, it's been unugly january for stocks and dow and s&p on track for the worst months in august and nasdaq since 2008. >> i don't like any comparison to that year. the reason for the rally today, surprise move by bank of ajapan, a negative interest rate policy overnight. what this could mean for the broader markets and for the fed. >> two stocks clearly sitting out today's tally, amazon and netflix. disappointing earnings yesterday, alphabet is the last company in the fang complex to report earnings, we'll tell you what to expect when they report. >> i fang complex. what a term. concerns about the zika virus are growing, could the best way to tackle the virus be more mosquitos. what he says could stop the vir is from spreading coming up. >> negative interest rate strategy and impact it could have on the fed, steve liesman joins me now. >> you have to say the rally seems based on the surprise boj move and specul

wilfred williams says the victim may have

. >> did wilfred actually big a -- are you a soul cycle guy. have you picked a new york gym yet?do you know what? because there's one in this fantastic cnbc hq i haven't committed to one yet. >> you have spun? you must look funny at like 6'8". that must be a sight to see. >> it probably is and that's why i have only been one. it's not the most flattering of moments for me. >> 2% up in china is better than 8% down but who knows how much money they threw at it and that's the best they can do and 150 points here i guess we should start getting used to what we talked about. i'm trying to figure out whether the jobs number even matters for us. it always does, i'd rather have the jobs number in china. what do they add? 4 million jobs in a month or something? i don't know how that works. but usually we say it's the most important jobs number. we say that every month. the stuff in china refocused where we're actually looking but we're going to cover this and we do have a great american joining us at 8:00 a.m. lawrence of america, larry kudlow will be with us to discuss why we're still an

wilfred hated this question because it was too open ended but we're doing it anyway. tweet us your answer. >> i got overruled. >> read it on tv as the price of oil drops as we speak. yesterday hitting briefly in the $30 per barrel range. we're at 3105. brent 31.39. we'll be right back on cnbc worldwide exchange. e clear. but at t. rowe price, we can help guide your retirement savings. for over 75 years, investors have relied on our disciplined approach to find long term value. so wherever your retirement journey takes you, we can help you reach your goals. call a t. rowe price retirement specialist or your advisor ...to see how we can help make the most of your retirement savings. t. rowe price. invest with confidence. karl, don't you have fryeah, so? ng over? it stinks in here. you've got to wash this whole roo are you kidding? wash it? let's wash it with febreze. for all the things you can't wash, use... ...febreze fabric refresher whoa hey mrs. webber inhales hey, it smells nice in here and try pluggable febreze... ...to continuously eliminate odors for... ...up to

wilfred frost joins us from cnbc headquaters. fomc minutes will be front and center for you guys too. >> they certainly will. good morning to you. it's not all brand new. it's show number four now. certainly still the first week and we're loving it over here. just missing you guys. as you said it the fed minutes will be important today but they weren't that surprising yesterday. yesterday comments there said some of the members were a close call but we knew it was a close call. otherwise they would have hiked already. the real news was from mr. fisher pointing to the fact that the expectations are too low. i do think that's pretty interesting because why hasn't the u.s. dollar in the face of that and in the face of the global uncertainty reacted more this week? . quite a lot of strong dollar expectations are priced in and it hasn't acted as the world's safe haven this week. the yen, the currency of choice for that and the yen is up some 4% against a lot of asian currencies this week putting a lot of pressure on the region there a

brent, the international benchmark just above that level 28.19 after yesterday wilfred energy companiesere the biggest losers in the session after wti continues to find sellers in a bear market. >> absolutely right. creating bearishness globally and when we come back from a short break, european stocks dropping sharply right now. we have a live report from london on the big movers. worldwide exchange is back in a couple of minutes. or across the globe in under an hour. whole communities are living on mars and solar satellites provide earth with unlimited clean power. in less than a century, boeing took the world from seaplanes to space planes, across the universe and beyond. and if you thought that was amazing, you just wait. ♪ karl, don't you have fryeah, so? ng over? it stinks in here. you've got to wash this whole room are you kidding? wash it? let's wash it with febreze. for all the things you can't wash, use... ...febreze fabric refresher whoa hey mrs. webber inhales hey, it smells nice in here and try pluggable febreze... ...to continuously eliminate odors for... ...up to 45 days

. >> and i'm wilfred frost. check out shares offa faceboof . advertising revenue soaring 57% year over year. we'll break down all the key metrics and talk with an analyst in just a minute. as you can see, premarket trade up 12%. >> not usual that we see a move like that in the premarket. let's check on global markets this morning. sort of a mixed picture overnight. let's show you what's happening with u.s. futures after they closed lower yesterday. the dow was up about 68 points and gave back all of the gains and then some to close sharply lower after the fed. boeing and apple a real toll on the dow yesterday. looks like we're pointing to a higher start in the early session with dow futures up about 83. s&p futures up 32 points at this early hour in nasdaq futures up 57. europe is seeing slight gains in the early trading this morning. a mixed picture. dax, negative. france and ftse 100 positive. in asia, also a mixed picture with china falling again, closing at the lowest level since december 2014. the nikkei off 0.7%. though, we did see green

well, wilfred frost joins us from the u.s. after tech was one of the worst performers yesterday, what can we expect today? >> absolutely right, nancy. earnings continues a pace. amazon and microsoft really the focus in the tech space. of course, traditionally the focus for these two companies was on retail for amazon and on pc software sales for microsoft. but they actually both really come head to head in the cloud space, which will be a big area of focus. for microsoft, that means it's microsoft azure. but also for microsoft over the last couple of quarters, we've seen improving trends for the traditional windows and office 360 products. if we went back to disappointing guidance there, it would be a head wind for the stock price. for amazon, of course its amazon web services has been a huge area of growth, its own cloud computing offering, which is a leader within the space and forecasts for 70% revenue growth year over year as it continues to add customers there. of course, for amazon, we also look at prime subscriptions, w

wilfred joins us once again from stateside hq. we could be looking at declines and then nine times out of ten they surprise us to the upside. what's going to be different this time? >> louisa, ten times out of ten they surprise us to the upside. they've never had declines, outright declines in iphone sales. as you rightly point out, that's exactly where the focus is on today when apple reports after the bell. more than ever on that crucial iphone number. despite the fact that we are talking about the possibility of declines, that eventuality i don't think is priced in for investors that i've been speaking to. now, china, another crucial factor to watch. it now represents a bigger chunk of sales than europe does, and it's fast approaching the u.s. portion of sales as well. we will need to focus on that. what will they say? will they say they're experiencing things like starbucks and siemens have said recently, that the underlying economy is much better than what the stock market and currency might have been suggesting. they current

wilfred joins us from the cnbc headquaters. we had a guest on yesterday saying the bigger banks state side are looking weaker compared to the regional banks. >> that's a trend to continue to watch out for but most tend to be more retail heavy so i don't think it's just the absolute size. it's the type of banking they're exposed to and just touching on those jp morgan earnings, better than expected. also relatively upbeat commentary on the current market conditions. he seemed some what unupset by recent volatility. he did have potential commodity losses and that got focus. today the focus moves on to the likes of wells fargo and citigroup and that difference in the make up of the banks will be clear there and with that rate hike it will be interesting to see what their commentary is from the year ahead and what they expect from the fed and how that will impact the financial markets. another is black rock. those results come out at about 5:45 a.m. eastern. so toward tend of worldwide exchange we'll break those numbers and then fo

. >> wilfred, thank you.e had another grant on, mark grant, we're calling all of the grants today, jim. lou grant. i don't know if we'll get him. hugh grant, who knows where he is or what he's doing. let's not get into that. mark grant said it wasn't so much what the fed did last month or the month before, it's what they did last month or the month before too early or bad timing for raising rates. i tried to get him to say you thought everything that they did for five years in terms of going from 800 billion to 5 trillion, that was all fine but they're just getting out too soon. he didn't really say that. you probably don't think that that's the real problem here. it's what they had already done and not what they did recently, right? >> i think what they are going to do is not what people expect. i think that the shared wisdom is 2016 will bring us to two, three, or four one quarter of 1% rate hikes leaving us at 1% or so in the federal funds rate. seems the fed is more likely not to go to zero than to go to

but let's bring in wilfred frost.hat are you watching this morning. >> let's have a quick look at european trade because it's effected that heavily too. we have the dax off more than 3% bearing the brunt the europe. heavy exporters are suffering the most but all of europe is down by 2% plus the ftse 100 itself down where the likes of bhp are off 5%. oil names also suffering and the exporters like burberry are suffering. bmw in germany suffering as well. so it's effecting everywhere. i want to come back to your discussion and joe you asked that question why don't they try to sort out the yuan first and that's the same question investors are asking. that's been the spark this week and the fact that it's continued to allow to devalue is why people are spooked because they're wondering whether the government is starting to lose control of the currency. it's propped up the currency for four or five years but the speed with which it is falling over the last week is spooking investors. now they would argue that the imf appro

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. >>> french tennis star wilfred zong ga is a huge hit on social media this morning after coming to the aid of an ball girl at the australian open. he stopped play and escorted her off the court after noticing she wasn't feeling well. he says offering a helping hand is just the normal thing to do. >>> and temperatures in mel brourn were upper 80s. pretty warm to be playing tennis. another sports celebrity is being credited with coming to the rescue of a woman involved in a three-car patriot. reserve linebacker dareus fleming says that he got 22 stitches in his right leg as a result of the rescue last week. he says he saw the woman struggling inside her smoking car and when he couldn't open the doors he kicked his foot through a window to pull her to safety. >>> and the actor who turned into a good samaritan got a visit from the father of the man he rescued. >> would hero jamie foxx, saving the day in real life. he was given an emotional thank you. here's abc's kayna whitworth. >> got to move your car. got to move your car. >> after this violent, fiery crash outside his home, oscar winni

. >> and i'm wilfred frost. wall street but don't let today's green fool you, it's been unugly january for stocks and dow and s&p on track for the worst months in august and nasdaq since 2008. >> i don't like any comparison to that year. the reason for the rally today, surprise move by bank of ajapan, a negative interest rate policy overnight. what this could mean for the broader markets and for the fed. >>

. >> i'm wilfred frost in for bill.he two big stories facebook and under arm our, whether these are the must have stocks for investors. >> oil rallying on reports that russia and saudi arabia are considering production cuts. >> health care and biotech stocks have a hit today the the massachusetts attorney general is

. >> wilfred, you know, i was on the phone this morning, and i described china as kind of like an 18-year-old nba basketball prospect. the kid is a stud, but he's still a kid, and he's got to mature until he becomes that all-star. do we wildly overestimate china's ability to manage its own economy given that it's only been a, quote, free market for as long as you and i have been in this business? >> i don't think we overestimate the ability to manage the economy. i think they've done an incredible job going from rural to urban over the '80s and '90s and graduating from investment to consumption led but there's a huge painful transition to help to go from investment led to consumption led and the currency is a manifestation of that. they have to go from artificially holding the currency above its natural rate which has been the last four or five years to a free floating rate. we don't know how much further that is. there's a lot of pain to come during that process and they have big reserves. they have the ability to probably get there. but it's going to be more painful. it's going to b