the yen's downturn helped to boost their profits. more than 20% of firms listed on the first section of the tokyo stock exchange released their earnings between april and december. a survey by snbc nikko securities shows that combined pretax profits of 235 companies that have reported results by thursday climbed 40% year on year. more than 13% revised their profit projections upward for the entire year. the yen's slide and strong domestic demand led to higher profits at electronics and steelmakers. securities houses did brisk business due to stepped up stock trading. foodmakers, though, didn't do all that well. for them the weaker yen meant higher import costs. taking a look at some of the individual results now, daiwa securities profits soared more than 4.5 times the earlier level. active trading in the stock markets brought in more in commission fees. honda motor benefited from the yen's downturn and the strong sales in japan and the united states. its profit surged more than 40%. two major airline companies weren't as lucky though

why would you go stronger yen in that case? >> qe. you look at the size of the stimulus, it is massive even compared to the u.s. whenever you have qe, the markets do well. the proof is in the pudding if you look at the mckay. it has been one of the top performing develop stock markets in the last year. we believe that it -- that a 20-year-plus bear market in japan is over. for the next few years, you will see a rally in japanese shares. >> even on top of the 50% we saw from last year? is 15,000 orh it so now, it is still way below where it was 24 years ago. japan is a very seasonal markets. it does very well between november and may. if you look at a 20-your chart, you will know if you invested in november each year and come out in may, you would have still made money. now that we are on the up trend -- >> i think in your research you had something -- bull markets don't come to an end on their own. they are assassinated by policymakers. who is going to take a pot shot at this one? >> i think eventually interest rates in the u.s. will

we are getting the latest trade data. 1.3 trillion yen. it was forecast is at 1.2 six yen.le bit wider than forecast. the deficit tops 2012 $6.9 trillion. a huge amount. higher fuel costs. that is the fourth largest on record, the longest stretch on record of deficit. with that comes exports and imports. exports rising 53%. imports also below a forecast of 26.2%. the yen wanted about nothing yet. this from the bank of japan as well. the economy has been recovering moderately. no comment about inflation or deflation. this is back in december. also japan has a breakdown on exports to the eu. it rose 22% over the year. that is quite encouraging. exports and imports moderately below estimates. it is the longest stretch on record. >> checking the singapore traded futures. it will start as they signal down below 15,000 more. ♪ >> the luxury yacht world has china in its site. a growing number of wealthy buyers. it is proving something of a hard sell. >> it is party time in the mayfair hotel in london. heads of the world most luxurious yacht builders are here for a once a year get

the yen carry trade is important. the yen toenends to strengthen. borrow yen to invest in the united states have to turn around and cover the yen, they do it by selling stock. one of the reasons this is happening, people are forcing to sell stock to cover the trade. >> watch the chinese trust banks. the black swan. a lot of chatter about that in debt circles. something certainly i'm going to watch, gentlemen, as we continue to watch china. let's go uptown to seema modie and get the nasdaq check in times square. >> it may be a down day for the overall markets, two stanouts bulls are cheering on. netflix and f a 3 networks. the stocks moving higher on better than expected earnings. despite the big move, the nasdaq is still down about 40 points on the dpap still holding on to that 4,200 level. look at the biggest losers on the nasdaq 100. biggest ones, reporting earnings that beat expectations. guidance lower than expectations. talking about china. look at the chinese edrs weighing on the nasdaq. down on the day, worse performing on the nasdaq 100. bac

i am now speaking of the yen remained currency markets very much in focus. where do things stand this monday morning yet to find out scores saturday focusing would cover a lot of different caresses. right now but some estimate that the one that he has set the ball again and again she rose to almost seven week high against the dollar confesses really switching funds to the japanese currency in light of global growth concerns and goals recent declines in stock markets. right now hundred and two point twenty five to thirty. it began as was the swiss franc are usually seen as safer assets during periods of market volatility have a look of the year ian on the skin as well hundred and thirty nine point nine th two hundred and forty point all for now. china related shares may also be on the focus ahead of the lunar new year holidays which begins on friday this week i had that means that as can be shortened trading session for a lot of chinese stock indexes as well as related to shares here so we may see a bit of a frenzy of activity in those sectors as well all for

the weaker yen lead to higher prices of electricity bills and gasoline. a rise in the cost of fixing computers also can she be dead. the december index rose one point three percent from the same month in two thousand twelve. it was the seventh straight month of gains. meanwhile the industry ministry said that factory output for december rose for the first time in two months. that's up one point one percent from the previous month. looking ahead officials predict a six point one per cent rise for january. and of zero point three percent rise for february. officials in the united states have released the latest quarterly gdp figures steady economic growth is due to brisk consumer spending and strong exports. u s commerce department officials say the gross domestic product grew at an annualized rate of three point two percent however fourth quarter expansion fell short of the four point one percent growth recorded in the july september period nevertheless it still represents another sign of steady economic recovery in the us. personal spending which makes up

but the weaker yen has made those imports more expensive. finance ministry officials say the 2013 trade deficit was 11 trillion yen or $112 billion, marking its third consecutive annual deficit. the previous record was $68 billion in 2012. imports grew to $797 billion, up 15% year-on-year in yen terms. the weaker yen raised the cost of imported crude oil and liquefied natural gas for thermal power generation. japanese also bought more smartphones from china and taiwan. shipments to the u.s. helped drive exports up 9.5% to $684 billion. but the pace of exports increased slower than imports. analysts say electronicsmakers are not taking up the slack, as they did in the past. this is because manufacturers have moved much of their production bases overseas. toshiba now makes 96% of its refrigerators, washing machines and other home appliances outside japan. that's up from 66% seven years ago. company imports most of the home appliances it sells in japan. and analysts predict that the trade balance is likely to remain in the red for some time to

japan's annual trade deficit hit a record high last year it has the weaker yen meeting in port to feel more expensive. in china more than one hundred people infected with h e seven and nine four flew over the busier. ambience in the grand champion. this is the chance for a perfect candidate to show you how it all play. perfect storm of factors has pushed japan's annual trade deficit to a record high. none of the country's nuclear reactors is running so utilities need to import fuel but the weaker yen has made those imports more expensive finance ministry officials say the two thousand and thirteen trade deficit was eleven trillion yen or one hundred palms billion dollars marking its third consecutive annual deficit. the previous record was sixty eight million dollars in two thousand and while imports grew to seven hundred and ninety seven billion dollars up fifteen percent year on year in yen terms the weaker yen raise the cost of imported crude oil and liquefied natural gas for thermal power generation japanese awesome mom or smartphones from china and taiwan. shipments to the us subp

risk averse and buying safer assets of which is the japanese yen. so hence the stronger yen as we're seeing right now but it is a turkish leader of the us dollar to all roles despite the rate hike in turkey the key point here is that as the fed winds down is on buying program more funds will shift back into the us and outs of emerging economies and that's what's caused a sharp drop in the last few weeks you can see the color it is clear on the screen right now you again very quickly on the screen hundred and thirty nine point five nine six for the island also add here in japan is a big focus on earnings i i just work up a touch of a couple cool monsoon came out with earnings yesterday the construction machinery giants at the top is the weaker yen actually help boost its april to december profits rising twenty seven percent actual setup supplier to apple. however cut its profit forecast as borders for parts for smartphones waiver to touch and one of japan's major banks the sumitomo mitsui financial group also said profits jumped twenty eight percent

that was down nearly 27% in yen terms from 2012. but, researchers caution that bankruptcies could rise again. they note that some companies are being hit by growing costs of imported materials, stemming from the yen's weakness. they also point to a possible negative impact after the consumption tax goes up. >>> let's get a check of the markets now. investors are buying the euro after a member of the european central bank's governing council expressed optimism about the eurozone economy. ecb member says the region's economy has potential to grow stronger than officials previously expected. the euro rose to a near two-week high against the dollar. right now trading at right around 1.3677. meanwhile dollar/yen is looking like this, 103.63. analysts say market players are waiting for u.s. retail sales data due out later on in the day. they want to find more direction about the u.s. economy following friday's weak jobs report. moving on to stocks now european equities are facing slowing pressure following two consecutive sessions of adva

this is down because the strong yen. and it is falling two percent. declinescks are seeing across the board because of strong yen and the impact of exporters. have industrial goods, that include these ,ompanies, transportation electronics, for example, all of these are stocks that are really falling significantly today. it is the first trading day in these are the strongest and biggest declines today. makes trips and the nikkei rose at the end of the year. startl after the weakest by 200% in the first trading day. >> thank you. preloaded with -- the political reactions continue. there is a campaign to shut down they have tried to force the prime minister out office. how big have they been? what is the support? continued and the protesters marched at the monument on the city -- in the city. drum up trying to support ahead of the shutdown. that is what they are calling it. downbig to shut the city and remove the prime minister from office. they say they will not finish until their mission is complete. they have called for a resolution to this and the pr

also watching up that dollar yen which if you laid the dollar yen chart as rick did earlier this morningr the dow jones industrial chart, they were basically tracking each other tick for tick. everyone is watching the dollar yen right now. as you can see, the dollar is weaker against the yen. in terms of the ten-year note, the trade at the end of '13, 2013, was to basically get out of your bond funds because interest rates were going up. the fed was going to taper. so far, that has not worked, because the ten-year note is now back down again to 2.66% and we have had lower interest rates almost since the beginning of 2014. not quite the beginning of 2014 but almost. so you are up to date on the markets with the major averages set to end the first negative january since 2010. is this the start of that 10% to 15% correction that some investors are expecting? >> we think potentially, december 31st very much lines up with the peak in september of 1929. >> that's only part of the conversation that he had this morning. more on that is coming up next. searching for trade ideas that9 spark your c

euro/yen right now at right around 140.21. in europe, investors are selling equities, which are seen as riskier assets. london is lower by 0.8 prs. similar losses for the frankfurt market. paris is down more than a percent at this hour. earlier in asia most markets ended lower. tokyo's nikkei declined nearly 2% rap in mainland china we did see battered shares there staging a bit of a rebound. the shanghai composite rose 0.6%. >>> well one hot issue in japan is whether to cut corporate taxes to prop up the economy. prime minister abe pledged during the world economic forum in switzerland to bring them down as part of his tax reform program. but his finance taro aso is still a bit cautious. >> translator: i am not saying that lowering the corporate tax rates would just lead to a decline in tax revenue, and would therefore be ineffective. but i do think a thorough study is needed. unless such a step is considered from a broader perspective, it could trigger an international tax cutting race, just like the competition to devaluate

the yen is rising. gold at the highest price since november. we have the deficit deepening in japan. have a look at the latest trade figures. it is a day with frenetic market activity. global selloff starting in europe and the u.s. on friday. that continuing in the asia-pacific as well. servile atmosphere. >> we are following it very closely. a serious situation with these emerging market equities and assets selling off. taking investors by surprise. we are seeing developed markets now following the declines that rish talked about on wall street and in the european session friday. check out the kospi and the nikkei. significant declines for japanese equities. 2.5% today. we are watching this very closely. this is the broad-based move to the downside. no industry group appears to be spared. check out the initial trading action in singapore, malaysia and taiwan. it is early going but we will be closely watching those southeast asian markets. jakarta, for example. we will be watching thailand later when that session gets underway. no trading in au

the won rose against the yen last year by nearly 20%. they also blame sauered relations with japan and unease over north korean military provocations last year. >>> japanese prime minister shinzo abe is back from a tour of africa. abe was trying to drum up business, but executives know they have to help africa develop human resources for its economy to grow. nhk world has more. >> translator: africa has become the continent that carries the hope of the world. thanks to the potential of its natural resources, and its dynamic economic growth. japan and japanese companies have the strength to help you all. >> reporter: abe ended his tour with a speech at the headquarters of the african union. abe became the first japanese prime minister to visit mozambique. coal mines and offshore gas fields are powering an economy that's growing by around 7% a year. abe led the delegation of executives from 13 leading japanese companies. they are hoping to get projects such as energy development and road construction. but mozambique doesn't have the human

dollar/yen at 102.74 roughly. market players turning their attention to the outcome of the federal reserve's policy meeting which is due out later on in the day. traders pretty keen to see whether the fed will continue to reduce the current size of its asset buying. meanwhile euro yen at 140.52. the turkish lira fell from a two-week high it hit earlier on wednesday. the decline was due in part to selling by corporations. >>> many japanese automakers are looking at foreign markets to expand their business. toyota motor group's global production topped 10 million units last year, becoming the world's first automaker to reach that figure. toyota executives said the group assembled more than 10.1 units worldwide, up a little more than 2% from a year ago. the rise was driven by the group's outside outside japan. it was up about 6% at 5.8 million units. key factors behind the increase are the u.s. economic recovery trend, and also an upturn in chinese demand. but domestic production, it actually dropped about 3%. 9 end

the dollar yen is also seeing is strengthening.eseck of the with some of the biggest weightings on the topix. it is down more than 1%. zuho down. china aims for gold but a lack of white and not enough to dream. they hammered this for the winter olympics. we have a special report when "first up" returns. ♪ >> we are just a month away from the winter olympics in russia. they're lining up to host future games. making a bid for the 2022 event. the bid could get a frosty reception. least need to drive at four hours north of beijing to get to where china's olympic organizers want to hold the winter events. these are some of the tallest hills around beijing. it is already january. there is no snow to be seen anywhere. >> here i thought we were getting out of beijing away from this. >> china will undoubtedly throw of throwingbillions things out. there is still much work to be done. >> there is no snow at all. >> the last mile offers few clues of a new by -- nearby winter resort. this is january. when we at last see these loads, it is evide

a weaker yen pushed up the valley of imported crude oil and liquefied natural gas imports of smartphones from taiwanese and other foreign makers also rose. ministry officials say they're waiting to see whether the weaker yen will lead to an increase in exports. official data shows that business sentiment among japanese workers improve for a second straight month in december the cabinet office surveyed around two thousand workers and service sectors about their confidence regarding current economic conditions. the sentiment index rose two point two points from the previous month to fifty five point seven. increase sales of automobiles electric appliances and other luxury items ahead of the consumption tax hike in april contributed to the rise an increase in winter bonuses also helped but the outlook index was down by zero point one points. many respondents said they expect sluggish spending for dining out and traveling. another sign of japan's economic recovery. the number of corporate failures in two thousand and thirteen dropped for the fourth straight year to a seven year low or to the

dollar/yen dipping ever so slightly.oldman sachs saying you're going to see a bigger and faster ove to 107 against the dollar. euro/dollar, draghi seems to have put a cap on where the dollar will go to. cable just off a two-year high. one stock that is on the move. lufthansa are making jouments about the state of play of their -- announcements about the state of play of their cost-cutting program. you're looking at 80 million in term of restructuring costs for 2014. a little bit better in terms of -- in the plane. the factor rises slightfully 2014. those are your markets. that is one stock. here are the headlines. . inese imports rise the trade surplus topped $25 billion. they became the top trading nation in 2013. seeking to join the transpacific partnership for trade talks. for months south korea has been considering whether to join the u.s.-led negotiations. the company wants to progress toward a commercial deal with hina this year as rising won threatens exports. the forecast rises by 197,000. the gain would cap the

is trading right not a hundred yen levels. i'm actually starting the thanks alot for that update from email and art from the ten count stock exchange. the us treasury secretary expressed confidence that the american economy would likely grow by three percent or more this year. jack wu made the comment that the world economic forum in davos switzerland. this has been measured by all of the surveys is strong i am really think that that there's every reason to be hopeful that we'll do well this year. louise's employment as some ongoing challenge he said there's more work to do to increase jobs. treasury secretary also repeated his call for congress to act swiftly to base the government that limits a less attacks the us could face a default in late february. when said lawmakers must not create headwinds that offset the natural telling when the economy is doing better. more and more people around the world are turning to the virtual currency although the debate calling it as how the money is attacked by governments or in the major

the euro down to a two-month low against the yen. right now euro/yen is around 139.18. analysts say some market players are wary of the possibility that upcoming inflation data out of germany may come in lower than what they are expecting. this is putting a bit of pressure on the single currency. meanwhile dollar yen is quoted at 102.30. market players are waiting for the fourth quarter gdp data due out later today. the turkish lira is extending losses against the dollar, erases all the gains made after the central bank raced the key rate to stop the lira from sliding further. >>> analysts say the fed's latest move could prompt a risk aversed action. we got some comments on the outlook. >> translator: the further scale back of the fed's bond buying amounting to $10 billion was within market expectations. but the fed's statement didn't mention anything about the sharp declines in the currencies of emerging economies. that triggered investors' concerns. >> tom muir rah says volatility in emerging markets could continue until investors become more confident about the stren

the yen decline also helped. encouraged by the latest data, prime minister shinzo abe instructed cabinet ministers to work out a new action plan. >> translator: japan has been given the opportunity to host the 2020 olympics and paralympics in tokyo. this should help promote tourism. we'll try our best to achieve a new goal of 20 million visitors a year by that time. >> the government plans to improve access to downtown tokyo from narita airport, put up more signs in foreign languages, and provide better internet connections. >>> well, japanese government officials have looked at the state of the economy, and they've upgraded their assessment for the first time in four months. their monthly economic report for january says the economy is recovering at a moderate pace. the people in the cabinet office say they've seen increases in personal spending and business investment. the assessment of private consumption from picking up to increasing. they say consumers are rushing to buy big ticket items like cars before the

on to currencies, dollar/yen is currently trading at right around 104.74. analysts say more investors are hopeful about the u.s. economy. the next focus will be the minutes from the federal reserve's latest policy meeting, as well as employment data due out later. meanwhile, euro, again, roughly 142.27. >>> japanese electronics maker hitachi will reshuffle its top management. the corporate executives explained that they will go ahead with downsizing and restructuring of subsidiaries. hitachi's board of directors decided on wednesday to replace chairman karamura with the president. and the current senior vice president will become president and chief operating officer. they will take up their posts on april 1st. >> translator: i think it's very important we should move forward and do more to respond promptly to the markets. and take measures to deal swiftly with changes. >> he became the chairman in april 2009 after hitachi suffered its largest ever net loss. he's been pushing for structural reforms to rebuild its finances. >>> well the people over at canon

also euro yen two hundred and forty one point twenty nine to thirty one it was some positive news on monday after the european union decided to ease sanctions on iran with foreign ministers. proving that the decision now we're also going to keep track of all oil futures as well as other commodities in light of china's gdp and other related tonight yesterday on monday and how that made that may affect of commodities and commodity related indexes and i'm talking about france's australia's asx out and does some other of the indexes as well of course a lot of the shares traded up in japan today. linked to a lot of these and heavy industry shares were down but as we've said it seemed that the dollar at trading above pattern for i will see how that affects the exporters and as i said we did and a three days in the negative thought in a row with an ak let's see if we can actually snap that today so far were the cause of this fact you are our enemy thinks a lot for that update from the milling crowd there from the tokyo stock exchange and that the zest from oz on the business team for this h

they set aside one trillion yen about ten billion dollars to ease any negative effects of the text i think if the economy back on the growth pact by july again no less than five point five trillion yen about fifty three billion dollars on other economic measures. i visit the stands are the only way to achieve dwellers while restoring the nation's it's the school counts the feelings i just wish him and ninety are looking into another in the path of nuclear plants. officials with the gay like a parent company say contaminated water likely leaked from the containment vessel in the building housing the reactor number three officials say on saturday. a camera installed on a reluctant video of the water flowing through the first floor of the building he said the strain was about thirty centimeters wide and was pouring into the drain officials say contains levels of radioactive materials that are nearly as high as the contaminated water accumulating in the basement. the one temperature is about twenty degrees celsius almost the same temperature as the water at the bottom of the reactor. off

so we had cloudy year deal with this effect continues on and i mean the weakening of the yen helped drive stocks higher. can you tell us where things are standing now. yes actually does have a look at the summit currency pairs that the weaker yen as he said was a big driver behind the nikkei entitled caresses i have been a hat had a big say in how the nikkei has been trading session that saw him right now hundred and forty points and one in four of twenty seven to ninety one it actually touched off hundred and seven points thirteen of one point last week and done this week is pretty big focus of wood in the us jobs data due later this week and all investors also to be keen to see the minutes up from last months the federal open market. the policy committee meeting. to see out whether that is the direction of tapering i will retake the site in two thousand and fourteen. the year again as well of course the euro did see some big gains however i did it fall to a four week low against the dollar on friday and also fell against the yen but it did rise considerably in not against the dollar. in

the euro or yen hundred and forty two point zero four two zero eight. i'm not traders are possibly also waiting for euro zone consumer price data for december which is due out later today. asian markets of it provided a better guide also if china's cpi which is due out on thursday and also to keep an eye out for them to tear up power plant sector related shares industry. so just pushing by hitachi and that's after what we've discovered also with the captain on the major news about that you're on a set that is open to seek help from my japan to build nuclear power plants about some interesting sector with the fact that as well. i bet she never made things a lot for that update. now officials echo a psyche heavy industry have unveiled a new train cars for the subway lines of washington dc the firm is the first japanese company to win orders for the us capital the officials showing off their latest model at a suburban station washington's transit officials are ordering new subway cars to replace old stock and boil new clients over the next twenty years ago

a weaker yen pushed up the valley of imported crude oil and liquefied natural gas which are priced in dollars exports in november rose more than seventeen percent while imports surged by just over twenty two percent from a year earlier. us stocks fell sharply on monday on investors' concerns over the american economy and that's after a federal reserve official showed support for penny back on economic stimulus. despite a weaker than expected jobs report on friday. the dow jones industrial average lost more than one percent and the day at sixteen thousand two hundred fifty seven which is the lowest level this year the sierra japanese markets are faring let's now we are going to go to the maniac potential stock exchange for that. in the morning of markets in japan clothes from holiday yesterday. are they opening this morning morning i ran into acting like it to start here at the overlap with what she is a genuinely fourteen the nikkei is down two point five seven percent at fifteen thousand five hundred and three. drifting friend of the lower the key sixteen thousand them all and sentim

the yen dollar, when this goes down, means the yen is strengthening. causing problems with other currencies around the world and with emoerging markets. the fxi. china emerging market. down 4%. turkey, korea, brazil. all down 2% 3% or 4%. here in the united states, circuits associated with energy materials, grow, notably on the down side today. pointing out an interesting thing. brian, you mentioned, i've weren't bauching argentina a while. the peso hitting record lows, default risks looming out there. some of the article tgentinean are down. don't have the chart. trust me. all on the weak side. and brazil as well. >> bob, probably about 15 years of doing this or so, the first time ever let a show talk about the argentinean peso. a fair comment. >> a lot of strange currency fegts going on today. those currency effects are playing into the stock market. it's our job to point out those relationsh relationships. did the right thing at the top. >> trying, bob. appreciate it. >>> like bob said, across the board in the red today. it's not just here. it's eve

and the yen will fall at a faster pace than the dollar in 2014. going to be a good year for the u.s. economy and for the japanese economy. it'll be -- cheryl: they're going to have more of a fall than we wiil. >> they will have. the japanese yen will depreciate at a faster pace against the europeans than the u.s. dollar, that's correct. but a good year for the economy, a good year for the stock market. not a particularly good year for the u.s. dollar. although we're forecasting about a 5-7 decline against the euro to end the year at about 1.45 in the euro dollar. cheryl: you're optimistic about the u.s. economy but still bearish on the dollar itself, weakening in the dollar which, you're right, is -- this is not what we should be seeing in textbook economic, but this is the way of the world, i guessings right now. you also mentioned europe, and europe is not out of the recession now. i think the only concern is really france, but otherwise they've actually really come back from their recession. >> that's a very good point, and that's really kind o

. >> i'm watching the japanese yen. it is stronger. bob pisani showed us strong correlation there as well. >> right. scott wapner, you've got a lot to cover over the next hour. >> no doubt, carl. everything is cyclical is being thrown in the trash condition today. financials are down. materials are down. so many individual stock stories. herbalife breaking within the last hour or so. we will cover all of that right now. welcome to the "halftime report." we're following the biggest stories on the street today. top dog, manager of number one ranked mutual fund is here with his best picks for your money. battle of the analysts. it's pachter and what hmahaney . picking the losers and winners on the high flying trans. pete najarian and his brother jon. josh brown and stephanie link. the dow was down. visa, amx, goldman, boeing, all getting hit hard today. what, guys, are we to make about this, josh? dow is down. this is getting ugly. >> this is the worst gap down open of the year so far. off 1.1%. second worse day overall two mondays ago wh

some argue that 16-year-old yen was carried on to the runway. report says 2 crew members were ejected. we have reported previously that the number was 3. city attorney declined our request for app interview and our calls to yen attorney and asian airlines were not returned. vick lee, abc 7 news. >> one more item on this story exploratorium firefighters has filled a legal claim against the department saying the top brass tried to blame her for the death of an asian passenge passenger. abc 7 news i team has reported that 16-year-old weapon wen survived the crash only to die when 2 fire truck ran her over. 49-year-old duckett was driving the second truck that was mobile 37 that day. in her claim duckett says fire chief hays which have and top staff told her she needed to admit to the incident and take responsibility for yen death and the driver of first truck said the department told him would he not be investigated and had nothing to worry about. >> duckett accuses the fire department of discrimination because she is african american and lesbian.

dollar/yen, firmer between its range of 104 and 105.making unilever reporting a 3% decline in its full year turnover. the group hit by a slowdown in emerging markets. underlying sales were up 4.3% for the year. earlier, i spoke to the ceo and he told me he was fairly pleased with figures. >> obviously, head whippeds on the currencies that you've seen in many parts of the world. but the underlying sales growth is up 4.3%, which is very competitive for us. we also have another year of profitable growth, core operateding margin, up 40 basis points. so that is four years now of top and bottom line growth. >> max king is a port foal your manager and joins us now. they have a profit warning in the first quarter. things have beaten a bit this morning. but he still talked about emerging markets being difficult, the sales growth there now less than they used to have. interesting even in the u.s., where he said it's a positive economy, real economics haven't grown for a while. how tough is it for companies? they had a good run for a while. >> con

dollar/yen has come back down to below 103. basically seeing a sell-off across the board for the dollar. and terlg pretty much on the 2 1/2 year high that we hit during the session yesterday at 1.6625. that's where we stand at the moment with european trade. sixuan has been patiently waiting for us in singapore. hi, sixuan. if thank you, ross. asian markets traded to the downside this friday. the shanghai composite added 0.6%. the shenzhen composite gained 11.3% and the china exports ended higher by 1.6% to a new record high. this small cap tech centered index is up over 6% for the week, over 12% year-to-date and let's not forget it values price percent last year. but in japan, the nikkei 225 tumbled 2.3% as the dollar/yen weak.ed to a two-year low. and in the region tech space samsung's q4 mobile profit tumbled 18% from q3 and shares ended higher by 0.6% after the company pledged a higher dividend. meanwhile, lenovo paired down some early gains and gained 1.2% after the chinese pc giant agreed to buy the low end server busines

dollar/yen yesterday was down below 104.ove it at the moment, not far away from the 105.40 level which is the five-year high we hit on dollar/yen last week. that's where we stand right now with asset prices. what are investors to do as we get through this week? we've got bank of england, ecb meetings and a jobs report. here is a recap of some of the thoughts we've had. >> cable for me, you've got the dollar there. i think for me, the kospi is much better. starting with the euro/sterling, and both is going to give you a little bit of a move back yesterday. but u.s./sterling for me, currently around 83. we could very much in the first quarter touch 80 and another move in starting off, as well. >> the crux is whether the bank of england can maintain this very loss monetary stance in the context of a growing recovery is whether there are any inflation impressions. i think we would agree with you that they are pretty benign and therefore they'll stick to this and that raises the possibility of asset bubbles. but if we look late l

so growth will be more domestically or yen tated.is likely to keep investment in the u.s., rather than seeing the normal -- dollar coming under pressure when we see growth coming up, normally a pick up in growth leads to an increase in risk appetite and we see investors looking for higher returns overseas. but i think in the current environment where growth in many parts of the world outside the u.s. is still going to be struggling, the u.s. will look quite attractive on the growth perspective. and that is likely to keep a lot of the investment more u.s. oriented and could start to attract further investment into the u.s. from overseas. >> what does that mean for cross rates? euro/dollar, we hit 1.39 last week. cable, we hit 1.6590. that's the highest since august 2011. euro/dollar is at a 26-month high, as well, ian. what happens on those two cross rates? >> as far as the euro is concerned, we are speccing the euro to come under further pressure given the very weak growth picture we're expecting within the eurozone. we're expecting

the yen which is a better number. is some stability in the emerging markets as the japanese yen weakens. >> things are quieting down perhaps a little bit. let's take a break and coming up, we will look at who is spending the most money on super bowl ads this sunday. it has to do with beer and cars, surprise. ♪ >> good morning, everyone, futures are up seven and stability to the markets off a rocky early asian morning. this is "bloomberg surveillance." we are not looking at the emerging markets. we are looking at the denver- seahawks game. >> since none of us are going to the game, we will be watching tv at home. here is a preview of who will spend the most money advertising in this sunday's big contest. over the past five years, anheuser-busch has been the biggest spender by far. thanmillion -- 50% more number two shelled out. will run five as. -- adds. you get the clydesdale horses and they have other platforms. pepsico is the halftime? >> that's what they are spending on ads. estimated they will get value from the v

the dollar-yen, a one-month chart. the dollar beginning to retrace recent gains.e are certainly turning around. i am reading increasing number of notes saying you are -- if you are going to see a move against the dollar it will most likely be against the end, suggesting this move has further to go. --whats tilts increasingly good with a new form of scottish that if it were to break from the united kingdom could be, and slang, call the kilts but this morning the british treasury said it will honor gilts for u.k. debt and all circumstances. pay attention to the gilts versus kilts debate. >> it sound so good. let's go back to breaking news on airbus. it booked a record growth a number of orders in 2013 but also sees 2014 deliveries on par with blaster. business, of this remember, the whole business now called airbus. what 2014 is going to will. john strickland is an aviation analyst. good morning to you. 2013, much better year than we thought it was going to be at the start of the year. delivered more -- many more aircraft. just 114 going to continue the trend? >> it

it's not just dollar-yen.e like it against other currencies and we think the canadian dollar can catch up with weakness we've been seeing in the aussie. that can alsog spillover to produce some defensiveness in the weaker emerging-market currencies again in 2014. >> how much of a one-way bet is this? is a not a risk to come down the middle of next year. we have had qe1, qe two. is there a risk of that happening? >> the fiscal tightening in the u.s. is much smaller than was the case in 2013. the shift in political landscape towards the end of the year towards more of compromise in congress points to that being the case. i think that means good growth for the u.s. next year. the odds are tilted badly. you also have to remember the dollar generally on a trading basis is quite weak. consequently, if you look at risk-reword it does affect the dollar. >> let's talk about the pound for a second. when i arrived in the uk, the pound was above two dollars and then we went down to $1.35 and now we are back above $1.60. l

that's been a keogh sgloe yen coming in under 103. >> the yen going back to weakening ways.markets. overnight a rate increase from india. that went a long way. emergency meeting from turkey as well. >> also impressive action among the homebuilders today. d.r. horton is the single biggest gainer. up almost 10%. all the metrics were higher. backlog, average price, closings, new orders p. they said the selling pace was pretty good into the month of january. that's leading to strength from the vulcans, pultes and so forth. >> well for the housing market. >> even as interest rates have come in a bit, too. >> yeah. >> for the time being if you're just joining us this morning, here's what you missed. >>> welcome to "squawk on the street." here's what's happened so far. >> emerging market economies maybe account for 10%. s&p 500 earnings. if you throw in china, maybe close to 15%. it's not inissue that they can dramatically affect the big picture. >> came out of 201 wi3 with a se of euphoria. the emerging markets and what's going on in emerging markets right now. let's pull back a l

that's a five day of the dollar/yen relationship and when that goes down, the yen is strengthening. i just want to point out, juniper had great earnings, discover had great earnings, starbucks, microsoft, proctor and gamble all had great earnings. please note the green here. i know we are talking about emerging markets all day but i watched these and they had a great day. finally we talk about exchange traded funds. i will be at the index universe etf conference on monday. this is the biggest etf conference in the world. we will be talking about what all the experts are saying on how to deal with emerging markets and bonds using etfs. tyler, i will watch your segment later this afternoon. >> absolutely. safe travels. see you a little later. >>> goldman sachs' ceo lloyd blankfein touching on the reason behind the sell-off. >> somebody said you can take a position on the emerging markets and you can't change your mind for fill in the blank, one year, five years, i would be long, not short. doesn't mean i will feel good about the next -- sure. in the long run, you have to bet on growth

the euro is gaining ground against the yen. meanwhile dollar-yen is traded around 104.28. european equities are trading like this. fairly mixed picture right now. london down by about .10%. paris's cac 40 is pretty much flat. china's down beat data hurt sentiment. the country's factory activity in january shrank for the first time in six months. hong kong's hang seng closed at a two-week low while nikkei shed nearly .8%. in singapore, finished at 3,100, lowest close in a month. shares in canada took a major hit, these include real estate developer capital land. >>> the top executive of mizuho bank will step down over loans to organize crime groups. president and chief executive officer yasuhiro sato said he will resign on april 1 srt. he will keep his post as president of mizuho financial group. nobuhide hayashi will succeed. >> translator: i believe my resignation will promote companywide efforts to improve business practices. >> sato also said he made the decision to resign after filing a plan last week to improve business operations with the financial regulators. the fi

still a big short squeeze again the yen today. that's why you see that relationship between the dollar yen. there's the pound and also, we put the turkish lira up of course because it is very much in focus. all right. let's bring in bob pisani as we look at the ten-year note. 2.71% on the trading session. that's new low for the trading day. >> isn't it curious that yields in europe and the united states are increasing at a time when many yields elsewhere around the world of course, yields are decreasing while the yields elsewhere are trying to increase. that's a curious situation. here in the united states, the dow once again underperforming the rest of the market because boeing and at & t disappointments. look at some of the major names. consumer stocks are unusually weak today. avon, campbell, kellogg, coke down 2%, 3%. those are much associated with calmer market days. consumer discretionary names in the retail space like home depot, bed bath and beyond, lowe's are also notably weak. this is curious because the group most assoc

dollar/yen, back up to 105. the dollar index doing well after that trade data came in stronger than expected, up at a one-month high. the adp jobs number out, as well. aussie/dollar, 0.8916. marketwise, sixuan is with us. hey, sixuan. >> thank you, ross. strong data from the u.s. boosted risk appetite in asia. the nikkei 225 let the gains jump 2% today. in china, the shanghai depositit ended at a low. the nasdaqs like china exports jumped over 3% today on reports saying beijing paved the way for insurance companies to invest in these tech start-ups. elsewhere, the hang seng index in hong kong had its best day in seven weeks. shoemaker surged after 17% after yesterday's jump on a better industry outlook. know that the stock plunged nearly 70% last year. south korea's kos thepy and australia's asx 200 both ended flat in directionless trading. japan's nintendo shares soared a whooping 10% as china eased a 14-year ban on video game consoles. meanwhile, earnings news boosted reports familymart neared a 14-month high.

, the dollar up against the yen.o/dollar at 1.3894 is what we hit last friday. currently at 1.3730. the aussie/dollar, down 15% last year against the greenback. meanwhile, the pound, 1.6552. this morning, we hit 1.6592. the high since august 2011. joining us for the first time in 2014, daniel morris, global strategy at tia crest asset management. daniel, happy new year to you. >> thank you. happy new year to you. >>> quite some performances we've had, daniel. we can't possibly repeat that, can we? >> well, it would be nice certainly quite unlikely. if anything, the returns that we had last year at this point were probably a bit better than we would have liked. generally, fundamentals were good and earnings were growing, but nearly 30% return is a bit too much perhaps. so you've got to wonder how much of that we're going to be able to keep into the next year, so consequently modest expectations for equities in 2015. >> we've discounted an awful lot of growth nein earnings with th 2013 performance. >> exactly. and you

policy, the japanese yen appreciated to 70 yen to the dollar. they couldn't continue to exist at that point. that's why they to adopted this policy. it was a direct reaction. >> as i understand that. that ties in. along with my opening question about what we're doing in terms of printing money -- >> absolutely. >> if one of the ways yuma nip late your currency down in the economy to print a bunch of money. aren't we doing that in this country? >> yes! >> this is doing is inducing other countries to emulators. i would totally agree with him is that the united states, by cheapening its country makes japan slide impossible so the japanese respond by printing their currency. the one central bank that is not printing its currency that should be printing its currency to respond to all of that is the european central bank. >> the weakest economy in the globe right now. >> and -- it's the chairman. >> yeah. again, we're would like to let you jump in. it will be his time starting now. >> sure. please continue. >> no. you know, with japan -- we have to ge

dollar/yen meantime is trading at right around 104.54. taking a look at other asian currencies. the thai baht dropped to its lowest level in nearly four years against the dollar. political tensions in the country are intensifying after anti-government protesters said they are planning big rallies next week. let's get a check of the stock markets now. most markets in asia declined today. tokyo's nikkei gave up more than 2. % following last year's spirited gain. china's shanghai composite slid 1.8% on fears that upcoming initial public offerings may dilute share prices. european equities very little changed. we're seeing slight declines right now for london's ftse while frankfurt's dax is up nearly 0.2% as well as slight gains for paris cac 40. >>> well japan has launched tax-free individual investment accounts. the move scraps taxes on capital gains, and dividends from annual investments of up to 1 million yen, or about 9600 u.s. dollars. government officials are targeting the nippon individual savings accounts, or nisa at individual investors. tax-free period will last five year

moving on to currencies now dollar/yen is trading at 1:04.45. the dollar has been in a pretty tight range. market players are waiting for more trading cues from the minutes from the fed. euro/yen right now right around 142.55. >>> the world's biggest consumer electronics show is opening in las vegas. developers from electronics firms around the world are getting ready to show off their latest innovations. the people at japanese electronics firm toshiba say starting in april all of their tvs above 58 inches will feature 4k ultrahigh definition. the technology allows for images that are four times sharper than current high definition models. officials at panasonic are exhibiting a prototype for a camera that can be attached to the ear. and representatives from rival south korean firms are unveiling ultralarge 4k tvs with curved screens. the model developed by samsung electronics features a screen that can even change its shape. people who've seen them say curved screens add depth to images. >>> automakers are increasing their presence at consumer

its key rate at this month's policy meeting to spur the economy. >>> moving on to currencies, dollar-yen is changing at 104.71. analysts say recent upbeat data out of the u.s. provided a chance to buy back the sdlar. market players are waiting for further trading queues. the u.s. weekly jobless claims report is among the focus later on in the day. the turkish lira dropped to a record low breaching the 2.2 level against the dollar. investors remain concerned about the economic impact of political incertainty stemming from a corruption scandal involving government ministers. >>> last year's new passenger car sales in the eu posted a circumstanceth straight year of declines, but a double digit increase was shown last month. the european automobile manufacturers association says new car sales in 2013 dropped 1.7% from the previous year to 11.8 million units. sluggish demand in major markets including germany, france and italy dragged down sales. these countries saw declines of between 4% and 7%. automaker volkswagen was the top market share falling .6%. sales at the number two, psa peugeot s

the hong kong bank has a market value of 4.6 oh yen dollars. $4.6 billion. the appeal is what everybody really wants to know. e?at does ocbc se >> the bank is attractive has been looking to diversify outside of its home country. two thirds of its current revenue comes from singapore. they are looking to expand outside of that area. hang ishong kong wing attractive. according to an analyst, she says its presence across southern china's river delta makes it a better target than any of these smaller banks. in is theing hang is looking tobc expand at home. f not coming to the rescue. estimateshone missing , making half of expectations. robert downeyt of junior tended to sprinkle some hollywood stardust, but it has little impact. of bitcoin is now back up above $1000. zynga saidost when they would start accepting them for games like "farmville" two. >> honda sales rising nearly two shy of, but it is expectations. december sales climbing 11%. nissan doing well. again the company missed estimates. a quick check on those carmakers. we are seeing the kleins in honda