Transcripts For CNBC Squawk On The Street 20140107

For some economists, but stocks over there are in the green. Our roadmap begins with the coldest arctic blast in at least 20 years affecting more than half the nations population. Wreaking havoc on commutes, travel and businesses. And the s p meanwhile looking to avoid doing something it hasnt done in a very long time, that is, a fourth consecutive time since the start of the year. Morgan stanley downgrading netflix from underweight to equal weight. And scott cohen reports Jpmorgan Chase officials will avoid madoff related penalties and jury selection begins for the inside trading case for s. E. C. Capital Portfolio Manager Matthew Martoma. A deep freeze is gripping much of the u. S. Forcing businesses and schools to close canceling thousands of flights. Its one of the coldest arctic outbreaks since the 90s and its taking a toll on the midwest, the deep south and even the east. That news is sending natural gas futures higher, its the lead of the usa todays money section. Talking about utilities and nat gas. More than half of the homes in this country are powered by, jim, we know what prices did last year. Use is up 50 year over year. And group is still hated. Theres a downgrade of chesapeake today. They are the natural gas play. I keep waiting for someone to say, do you know what, we got to own these stocks. They have been not great. Continental resources upgraded today, the oil play. The only stock that gets the big push is the chanere partnership and what do they do, they send the natural gas overseas, theres a difference between the cold and what the analysts are telling you to buy. Mark west is the owner of a big nat gas pipeline to the northeast where things are cold and no one seems to like the limited partnerships anymore other than they are exporting because of higher Interest Rates. They should be playing. Spot prices. We wont stay up at 13 or wherever we are in the new york area or where everybody is getting hit by the cold. In the old days someone would say come out and buches peek for the trade and now they are saying sell it with the trade. It seems to be out of sync. The market has been down. Three days in a row. Wow. Geez, sell, huh . Apparently. The old fiveday rule. Back in 91 when the s p had four days down to start the year ended up 26 so be careful about the maxims. But remember they had the dip and the gulf war, and, boom, you had the buy that and that was one of those moments where once the war was over you had this run of four weeks. People people look back, remember, people thought we could lose the gulf war because of the republican guard. Yeah. Not happening. The not the first time anyway. And jetblue made news last night theyll stop flights for 17 hours as of 5 00 p. M. Last night at some of the biggest hubs of the country. Do you like them here . Still like them. Delta was a terrific performer, one of the best five in the s p 500 last year. In the Fourth Quarter it was just a monster. I think that this combined u. S. Look at that stock was up again yesterday. Us airways just do not keep that in front of you and they merge with american the synergies youll see are extraordinary. Continental air our friend Herb Greenberg wrote the ceo of United Continental is the worst ceo whats incredible is the stock went up anyway. How powerful is that. He said ambercrombie is the worst to be fair. Maybe they sell coats or do they just sell six packs. I saw your warrior north face. Its a gorgeous coat. Thank you. Its eric wisemans latest and the ceo of vf corp and its the warm one and i bet you its being blown out. Someone jimcramer, take a longer term view. Look at this stock. Look what wiseman has down. A four for one split. Wiseman is thats not all winter coats. Whats going on there . Vf is theyve got timberland, they have tremendous socks. You probably dont care. One politician cares about socks on about the cover of the new york post. What about socks i dont know what thats all about. Go back and remember the sock reference. I remember the sock analogy. No and i was referencing the toes because apparently its all about feet for him. Thats true. But they call them the coalitions seven for mankind i know when you shop it you like it, right . Uhhuh, love it. Seven for mankind. Seven for mankind, its jt just about the United Nations and coalitions its about great brands and vf corp is the standup. And pbh has come back but thats more of a regular power score. Long underwear. Thats what i recommend. Really . Yes, everest long underwear. Thank you for that. Completely nonable to make money story. Trying to keep people warm. The inventory has to be low for vf corp. Lets talk about the markets. The s p 500 looking to avoid a fourth consecutive decline to start the year and it hasnt happened since 1991 when the year opened with six straight losses although, again, we had a very strong market year that year so dont read much into it. In the meantime, the senate has confirmed janet yellen and shell take over for ben bernanke on the first of the next month. And thats about all we can say there, isnt it . Yeah. Continuation of policy. We see every day. That Companies Make acquisitions. I continue to focus on the sirius satellite. How does a deal get done like that . You take a Balance Sheet and refinance it and there are still the theme and companies that havent refinanced yet. The question is, do you see as you point out, people accessing cheap money now because they fear its going to go away . Now, that, you know, again, 3 , 3. 5 , i mean, wherever we go, its still going to be cheap on relative terms historically, but we have had a period perhaps that well never see again. Many companies have done that, of course, as you pointed out last night as we talked about a lot, john malone has certainly been one of the more aggressive saying, hey, this is a great time to borrow, do it, do it, keep doing it. Fedex borrowed 2 billion to fund a buyback. Do we see companies pile on now because they fear that the end is near . Yes, yes. I also think dont overrule the housing housing, theres not enough supply to meet demand. Sherwinwilliams. I like keys research. They are saying hold the buy on sherwin, that had been a not that great quarter so this is a pretty interesting moment. Yesterday we talked about the flurry of downgrades that started the week. You said the street was fighting the upside and more today, mattel, humana, coors, and a few more upgrades to offset it. I see the individual investor coming back and also short rates coming up which, remember, its a credit balance story. The downgrade makes no sense to me. Look it, you got to get on board here. You got to get on board. This is a market thats been down for a couple days. Were talking off the overbought. Look at the Regional Bank glut and bob pisani was talking whether its right or wrong and the story continues today with more Regional Banks being upgraded. Im waiting for a kind of an overall every bank must be bought call. We still do not have that. And even the journal talking about vick trading where weve turned a corner where its not coming back. And the ability to trade and all sorts of markets whether it be foreign exchanges or bonds that well see low volumes from here forever. And the eft said theres no more cross border. The fte lead story. Its about the cds. Net interest margin. The ability to pay a very low rate and not move that up and meanwhile rates are moving up. Its what wells fargo lives off of, its all that matters. Its all that matters. Not for goldman sachs. Goldmans going up because all these stories are wrong. Like, they have some thesis, there must be some central desk that says, okay, dont write anything positive about the banks because they shouldnt be going up. Look at bank of america, will you . Have you noticed the rally . How about this one . Theres a recommendation of citi today, did you see that . They talked about citi being good . They say citis undervalued heresy. Isnt that incredible . Listen up, michael cobat hes very quietly reinventing the company. You said that. I like him. Lets talk about netflix, Morgan Stanley cuts it from underweight to equal weight and lowers the price target from 3. 33 down to 3. 10 and said heightened competition from amazon and hulu could challenge netflixs subscriber growth and lead to higher marketing and content cost. Churn for the long term for netflix 4 and they say the market is pricing in many more domestic subs. Im hearing the pushback, other services and finally getting competitive. Thats not what you want to hear obviously. People were reacting that this one was the winner of the s p last year and maybe it moved too much. I continue to think the franchise is worth more and the International Market is great and it has an amazon halo. You dont have to make a lot of money when you are in the blowout phase, and i think the downgrade ill use the term premature. Yeah. Its certainly a great value, 7. 99 would seem to be a very strong price point. Having both as a user, theyre compatible, i wouldnt replace one with the other. Not amazon for netflix but thats the point of this downgrade meaning that would be more robust, amazon prime, hbo go and even hulu and you will see people perhaps fall off. But at 7. 99 a month. Im saying on mad money they could raise the price and no one would know the difference. I believe that. This is a very powerful story by a really excellent ceo, 22 billion company i think it could be worth 30 billion. But to the extent that the stock price is already reflecting an expectation that they get to 60 million streaming subs in some period of time, with that churn rate and with growing competition, you can at least give come credence to the theory that they may not get there. They need to triple the number of people internationally about 9 Million International and go to 27 million and then you get there. That is not outlandish, the Business Model works because its very inexpensive and people do love the product. Remember, netflix is one of those Companies Like amazon, like twitter, they love the product, very 1980s style investing. They love the product and they want to own the stock. They would love to buy a tesla and they buy a tesla. Its not my style investing. Its pure momentum, but momentum is back and the analysts fight momentum on a daily basis. Oh, yeah, there have been stubborn bears on netflix. You are talking 60 price targets that have not moved for a long time. Like this Downton Abbey i know you love the thing. I love it. 10 million viewers. I have to go start. I did the same thing to walking dead thats what i did with all these shows. Im too busy reading jim cramers new book. And youll come to the barnes and noble signing and the costco signing on long island saturday . Which is it . Downton abbey jumped the tank. The shark tank of. What a segue. Thats the best ive ever seen. But then again you did sign a longterm contract with cnbc. Its all part of the same thing, yes. When we return the Consumer Electronics show and the showdown in tech. Stay tuned, weve got an interview with samsungs ceo, you cant miss that. And also ahead former gop president ial candidate ron paul on the fed as we get ready for the janet yellen era. One more look at futures. Not too bad here. It will keep you warm. This and that and she said thats that and i dont want to jitter jat make it happen with fidelity active trader pro. Its one more innovative reason serious investors are choosing fidelity. Call or click to open your fidelity account today. Southern part of the u. S. Has nott ebeen spared the deep freeze across much of the nation. Julie martin with the Weather Channel is with us. Julie, good morning. Reporter in the deep south, in fact, we did get to a record this morning of 6 degrees and thats the coldest air weve seen since the 1990s. So, as you can imagine school is out across the metro area. Kids are home today. And the city actually had to open a temporary emergency overnight shelter for people just to keep them warm. Now, today we do expect temperatures here in atlanta to climb into the teens, maybe into the 20s, but were not going to get above freezing here until thursday of this week. Its not just here, but all across the deep south. In fact, the freezing line extending all the way down to tampa, florida. Carl . Julie martin in atlanta. Julie will be watching temperatures down there. Incredible. Mississippi, you name it. Gripping the entire country. My daughter goes to school in new orleans, i just went there because its warm. Huhuh. No more. Got to be inside the super dome. You dont get to say polar vortex too often. It sounded great, didnt it . Theres a split in the polar vortex. And then, of course hey, how about Global Warming . How about Global Warming . Its more complicated than that. Its really hot in australia right now relative to averages. Its a big planet. Very big planet. Thats a discovery downgraded today, but that would be a good show. Big planet. Even bigger universe. Meantime, back here on earth sources say Jpmorgan Chase officials will not be penalized as part of a settlement being negotiated with a government. The case involves allegations the bank ignored signs of Bernard Madoffs ponzi scheme. No individuals will be implicated in the expected 2 billion settlement which could be announced as soon as today. Meantime, jury selection begins in federal court for the Insider Trading case against former s. E. C. Capital Portfolio Manager Matthew Martoma, a bird who is apparently unwilling to sing. Kind of shocking that hes not done that especially because we know that prosecutors would gladly have taken something he might have given them to implicate mr. Cohen, his boss. But in particular in light of the fact that steinberg was convicted, if there was ever a case where the feds were really to have thought the weakest opportunity to convict it was in the prosecution of Michael Steinberg which took place at the end of last year. Another more Senior Executive at sac. He was convicted, i believe, hes appealing now. One would have to believe martoma having seen that, what chance does he think he has when the doctor who he was allegedly paying off is going to testify against him . Well, i guess hes betting that the jury just is wont understand, i mean, because and that his legal bills will be taken care of. Right . Those cases are they can bankrupt anybody. Yeah. They can bankrupt anybody. But there is still a question as to how aggressively prosecutors are pursuing mr. Cohen even now. I think there was an expectation when we first heard about the charges, remember, involved trading in elan and wyeth that he would turn and give them something they wanted and he didnt and they went after the entire firm. Sac up 20 net last year. A very good year for a large hedge fund. Right. When you do the numbers which i did some time ago, the 1. 8 billion in penalties this year, mr. Cohen will have made that. One year. The story never dies. Every time i read the stories they always say its over for him, its over. And then i read the second round of stories. Does he have a great Public Relations team that says its over, how does it happen, every time he settles its over and every time i pick up the paper, its not over. I dont know. You know as well as any of us do certainly who by the way, you see the bottom of your screen, is going to hold a News Conference on the jpm case, 1. 7 billion criminal charges and deferred prosecution and walked through apparently that the executives apparently will not be implicated. They said people internally knew there was no wizard there, but what duty do they really have . I think this was one of the more questionable cases but it doesnt matter. In the end jpmorgan has become a free fire zone and i think just saying, listen, we got to get past everything, we have to have 2014 be as clean atiate as possible. I did not think that the government had a good case here but i guess it just doesnt matter. Last night on mad money cramer told you all about the s ps diamonds in the rough and how can you add shine to your portfolio today . Well get his mad dash after the break and one more look at futures and a lot of news coming over the next several hours. A lot more squawk on the street from the nyse straight ahead. Shine bright like a Diamond Shine bright like a diamond and the southbound bus barreling down i95. This magic moment it is the story of where every great idea begins. And of those who believed they had the power to do more. Dell is honored to be part of some of the worlds great stories. That began much the same way ours did. In a little dorm room 2713. This magic moment when i first felt the diabetic nerve pain, of course i had no idea what it was. I felt like my feet were going to sleep. It progressed from there to burning like i was walking on hot coals. To like 1,000 bees that were just stinging my feet. I have a great relationship with my doctor. He found lyrica for me. 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Six minutes away from the open of trade. Lets get to a mad dash for this tuesday. Where are we starting . All we need is love, the love for google. Deutsche bank calls it a mustown. Jpmorgan raised its price target. People are talking its the race to 1,300, david. I do not believe this is like 1999 where we had some incredible price targets, qualcomm being the one. But i do still think its very cheap. Do you . This enthusiasm seems to have no bounds, which some might find worrisome. At what point will the Company Start to disappoint only because expectations have gotten so high . This stock is up 30 over the last 3 months. They have a big overseas business and they have a big european business. Yoeurope keeps coming back, and google is a great play. They are beginning to monetize the new products and they havent started how to figure out money on youtube. Im on board and my travel trust the biggest position. Youre on board . Yes. Second facebook Deutsche Bank says buy facebook ahead of the results, its going to be a solid quarter. This is just a time of love. I saw yelp go up yesterday, zillow is having a move. Li linkdin was downgraded. And workday a cloud play upgraded. David, people are circling back to traditional growth as the year begins. And a lot of it taking place where youd expect it in technology. Right. Yesterday, though, we talked about ebay, a company that has not seen growth. A lot of chatter among the analysts saying it was too negative of a piece of research which is why its going up today. Yelp is my barometer. Why . Why . Yes. Because yelp is cloud, its social, its mobile. Its the trilogy, david. And because i own a restaurant and im so scared to death of yelp. So scared to death. Its not going to help no, it costs a fortune. Jerome stoppleman, this is a great company. They installed here and they did a Big Underwriting and the next thing you know its finally broken through, i think yelp has the best Business Model. There are so many pinkie in the brain stories its incredible. Im looking forward to the opening of that fabulous mexican restaurant. And the opening bell, by the way, im also looking forward to, right after this. How will apples competitors stack up . Conquer the morning, conquer the conquer the morning, conquer the da return on investment isnt the only return im looking forward to. And my parachute definitely isnt golden. [ male announcer ] for some, every dollar is earned with sweat, sacrifice, courage, which is why usaa is honored to help our members with everything from investing for retirement to saving for college. Our commitment to current and former military members and their families is without equal. Start investing with as little as 50. So ally bank really has no hthats right, no hidden fees. S . Its just that im worried about, you know, hidden things. Ok, whys that . Well uhhh. Surprise um. Well, its true. At ally there are no hidden fees. Not one. Thats nice. No hidden fees, no worries. Ally bank. Your money needs an ally. Became big business overnight . Like, really big. Then expanded . Or their new product tanked . Or not . What if they embrace new technology instead . Imagine a companys future with the future of trading. Company profile. A Research Tool on thinkorswim. From td ameritrade. Youre watching cnbcs squawk on the street, the opening bell in just a few seconds here. A lot going on. Ces is providing a surprising amount of news not all of it by the script you could argue. But we are going to talk to the samsung ceo later on this morning. Apples making some news. 10 billion from the app store last year. A billion in december alone. A record month. And when i feel is amazing weve all kind of forgotten that theres a big what a Profit Center that is. Guys keep dumping on apple. The new 50day moving average but it almost was bad. You are talking about some sort of what kind of costs, what are we worried about now . Hindenburg, was it a hindenburg . Were below half a trillion in market value. Yes. Sound the alarm. We have an inversion. Theres a look at breadth at the top of your screen. Yesterday morning started almost exactly like this and we lost our gains very quickly. Well see what the day brings. The Ronald Mcdonald house providing temporary housing to pediatric Cancer Patients and their families, an organization that does incredible work. You are so right. Town Sports International holdings an owner and operator of fitness clubs celebrating fit week. Samsung had some interesting metrics, not only the first down profit since 2000 in two years. But the 105inch curved television which is making noise in addition to the michael bay appearance, which well play later on. Did you get the Dallas Cowboys jumbotron in your house . Raise the roof. They are curving a lot of stuff at samsung. Yeah. It doesnt appear, though, to be helping their sale of smartphones. They had the worst ad ive ever seen about some guy taking somebodys girlfriend at a ski resort. I know fast money did it. Its the worst ad ive ever seen. Im not kidding. Id love to just put it out there, because i thought it was, like i thought it was, like, one of these stories it was hike a horror movie im not kidding, it was like saw 17 or something. Really . Yeah. It didnt make me want to buy something samsung, ill tell you that much. I like the directv ads. They are pretty funny. A series of upgrades to work through. Yum at rbc, lululemon saying its a better year for lulu. Obviously bleary eyed from Florida States victory and felt that buying yum for the travel trust and j j. A top pick. But the chatter out of china continues to be very positive. David novak the ceo came on mad money and said, do you know what, well not let you down, jim. We had the same address, you know, at one point. Your car . We lived in our cars. The title of the report is out of fowl trouble. And they see mid Single Digits prior. If chinas fixed, margins can expa expand. No mas negativity if chinas fixed. Thats like your shark tank thing, no mas, one of their ad campaigns. Do you watch anything other than Downton Abbey . I dont watch that anymore. Im working through breaking bad. When Brian Cranston came on mad money and said it was exactly like an apple situation. Dont worry about distribution, it comes he said it. He said mr. Freeh had it all wrong. I know you know he was a fictional character. I was in mexico and pollos is how they pronounce it. J j, you watch this company. Alex gorski has put a level of discipline that is like west point. Of course, he went to west point. Real quickly, i know this be a name for 6 in 60, but cellgene is up. I pushed it hard and didnt know they would have a home run in their 12 stake in epizime, theyve given them the 25 million milestone program. Have you seen epzm this morning . Whoo. Wow. We told you about the news that was broken a few moments ago. Lets get to scott cohen who i think might be back at headquarters. Scott . Reporter actually, were out in front of the u. S. Attorneys office in manhattan, carl, where Jpmorgan Chase can check off yet another box in its effort to clear all of the regulatory woes that its been dealing with. And this is a big one. Billed as the biggest fine ever for violations of the bank secrecy act, the bank will pay 1. 7 billion to the Justice Department for its dealings with Bernie Madoff and the bank will admit wrongdoing in a deferred prosecution agreement. What that means is, that there will be criminal charges filed but they will not be prosecuted as long as the bank cleans up its compliance procedures and abides by various monitoring initiatives over the next two years. No individuals are being implicated in this, and the allegations here very much mirror a lawsuit that was filed in late 2010 by the bankruptcy trustee Irving Picard who has still been pursuing a case against jpmorgan. The allegation that it was madoffs primary bank for more than 20 years and yet turned a blind eye to the fraud going on. At the heart of this twocount criminal information that will be filed but then deferred is the banks decision in october, 2008, to file not to file a suspicious activity report in the u. S. While at the same time telling regulators in Great Britain that madoffs returns appeared to be too good to be true. That, the u. S. Attorneys office says, is a willful violation of the bank secrecy act. The second count provides failure to provide adequate controls but, again, no individuals will be held accountable. The bank will pay 1. 7ed with to the Justice Department and that should be earmarked to Madoff Victims and another about 300 million to regulators including the office of the comptroller of the currency. Theres a News Conference scheduled at about 1 00 this afternoon. Well bring it to you live. Back to you. Thank you very much, scott cohen, joining us from lower manhattan. Jpmorgan on a day where the narrative to start the new year that the banks are starting to get some love. Does it throw any land mines on it . No. This is something that as long as you i dont want to get i want to just morally just say that ive kept waiting for Bank Executives somewhere to be prosecuted, not jamie dimon, you know, some of the guys who did something worse than you know, the Banking System was in question and there were some bankers who identify think were behind that. I dont want anyone to think that im identifying jpm as that. This is the kind of thing i think theyve been picking on jpm. Ill reiterate that. I know that will get me in trouble. I think that has been that bank versus the banks that really did bad has been just paying fine, paying fine, paying fine and this was another one where because they were able to figure out that madoff wasnt doing anything, i guess they were supposed to put up a red flag saying the guy is these returns are bogus, but i dont think and i know in london they also tried to measure it but they are now paying a fortune for it. But unfortunately, who pays the fortune, the shareholders. Dividing the line between the banks that really did bad, though, jim . Im talking about countrywide. Not a bank. Aeg where nonbanks. Aeg where they lied at an Analyst Meeting in december of the year they fell apart but no one seemed to care. I went to the i said, heres the lie. But, you know, they never went after the banks because i think that they just the bankers themselves. They never went after the bankers themselves and i think that america was kind of saying we wanted justice, the only justice we got is the shareholders pay. Im acutely cautious of the fact that we just my trust just wrote a check, right . Its the shareholders that have been paying. I dont know if thats right. Judge rakoff would agree to that. Netflix is the biggest loser on s p, but xroocoors is number. Citi takes it to neutral, they prefer growth at a regional price. Tjx, coach, gap, and their point is holiday might have been fine, jim, but not great. There was a pretty interesting letter that Howard Schultz sent out last night to his partners at starbucks saying that mall traffic this was the year where mall traffic really did not do well. A lotseers and they bought things online. A gift card christmas i wonder if michael kors is a victim. But the Howard Schultz note was powerful because it talked about how this was the internet year and that mall traffic did not produce mall results. He has to be watched because he sees a great number of things. Hes been prescient on this show. Yes, he has, holy cow, hes my bankable ceo. He called the turn in europe. He did carl just mentioned it and now i remember it. Yeah, he really did. The guy is the real deal. What can i tell you . Lets get to another real deal, bob pisani is on the floor. Hi, bob. For all the worrying about the drop in the year the dow closed at 16576. Were 70 points away from break even on the year. The dow is the smallest drop of all the major indices. Take a look at some of the big sectors. Biotech had a rough day yesterday on a downgrade but materials are still lagging, a group that had a lot of problems. And energy lacking. And financials are outperforming again. Ive made a lot of points and comments about the financials outperforming. The biggest story of 2014 so far on the stock market is the belief that we are going to see modestly higher Interest Rates this year and this is affecting various groups. Put up these Interest Rate sensitive sectors and Home Builders had a rough start to the year, they are up this morning but a rough start. Utilities have had a rough start overall to the year and banks are on the upside. Thats the important thing for banks. Big cap banks had a very strong start to the year overall. Earnings expectations havent changed. I havent seen any changes in that. What were seeing is a multiple expansion at the start of the year on the prospect for higher Interest Rates. Big banks have been cheap relative to the Regional Banks. The Regional Banks have all been down so far this year and the big banks have outperformed for them. The bigger problem i have for this, its a good thing to have an increase in Interest Rates, but its the low end of the curve where you want to have the increase because thats where you make your money. A lot of the rates are tied to shortterm rates by libor for the loans and they are not moving that much so i dont know that it will impact the earnings a lot. I think its important today that we did get some upgrades finally of the Regional Banks. We saw an upgrade for suntrust and saw an upgrade at bb t at jpmorgan and a downgrade for First Republic and finally an upgrade for the banks that they underperformed. Im dieing to hear what they have to say. The good news is the steepening of the yield curve that weve seen though. Put up the bad news. I do not see any loan demand out there. Still soft. Secondly, mortgage fees are still weak. Thats an issue certainly. Third i keep hearing that trading is soft overall, and finally theyre repricing the bonds, thats putting a lot of pressure overall on the portfolio yields, i think that will be a big issue as well. Im seeing worries here. Finally i would note did you see the trade deficit numbers, the big drop in the trade deficit . This was huge. Exports are near record highs. This will be very good news for the gdp, ive heard that it will be 0. 2 , 0. 3 , 0. 4 higher because of the lower trade deficits. Guys, back to you. Thanks so much, bob pisani. Lets check out the action in the commodities. Sharon epperson is there. Down 10 and were seeing gold traders weighing what they are anticipating, of course, what is going on with the fed and waiting for the employment on friday to see what the feds move will be based on that but they are also looking at the physical demand and the numbers out of asia and thats somewhat supportive of gold. Gold is up 45 from the lows we hit on december 31st right around 1181 an ounce and weve have yet to see it break the 50day moving average. And they are watching whats happening in the oil markets, they are watching libya and theres been somewhat of a recovery in supply there but there is ongoing tensions there and they are watching the fighting in iraq and concerned about the supplies in that region. And here in the u. S. The frigid cold temperatures definitely having an impact on production in the middle part of the country and thats something well be watching in the weekly supply report that will show up in next weeks report. Were also watching natural gas because natural gas futures among the best performing commodity today. Natural gas futures are rising as we are looking at increased heating demand with the record low temperatures, carl. Back to you. Sharon epperson at the nymex, thanks a lot. When we come back, one of the power players at the Consumer Electronics show, an interview with the ceo of Samsung Electronics. I always say be the man with the plan but with less energy, moodiness, and a low sex drive, i had to do something. I saw my doctor. A blood test showed it was low testosterone, not age. We talked about axiron the only underarm low t treatment that can restore t levels to normal in about two weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. Report these symptoms to your doctor. Tell your doctor about all medical conditions and medications. 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They introduced michael bay the hollywood director behind transnorme transnormers and other action blockbusters but when his teleprompter didnt work properly, things blew up. What i try to do as a director, i try to ah. The type is all off. Sorry, but ill just wing this. Excuse me, im sorry. Im sorry. Okay. Ladies and gentlemen, lets thank michael bay for joining us. Of course, michael bay later went to his website and said, wow, i just embarrassed myself as ces. He stepped on the vps line in the prompter and the prompter got confused and he decided hed be better off offstage. Some people have argued this was a plotted plan to get some publicity in a crowded space. Just like that horrible ad that maybe it was so bad that people remember it and they want to buy samsung. If this had happened to apple i would have to cut my price tag and point out the fact that its now past its not just a death crawl. Its some sort of saturn hits mars cross. Polar vortex. Polar vortex. Cross. Yes, chart. Chart week . Double helix. Chart week . No. Shark week. Tmobile ceo john ledger worked his way into a party that at t was throwing for its developers at the palms hotel. He said he wasnt looking to make a scene insisting he wanted to see the partys headline act and at t didnt agree asking Hotel Security to have him removed. Ledger was wearing his familiar tmobile logo shirt under a Leather Jacket which ive never seen him in anything else. I remember him from the first global crossing. This guy has nine lives and this life has really been a winner. Hes the kind of leader you think a company like this perhaps needed at this particular time. Resurgent. Yes. Willing to rally the troops. I remember the enthusiasm here when they went public through the merger. I love the guy. Is there a good feeling for you can you can take from some clues but how much is he getting under at ts skin . Certainly some of their pricing decisions lately suggest that he has. Thats the question. We saw it on friday, of course, and we wondered just how much of that was really a response to either a bad quarter at at t. Though many have dismissed that, but the competition no doubt is significant and seems to be growing which then when you go to this consolidation story which were all going to be talking about im sure this year in wireless, you do start to wonder how is it that the regulators would allow that to occur given that strong competition that tmobile seems to be bringing to the likes of at t. And bank of america says that sprint will not buy tmobile. I always wonder how do the analysts know. They dont. You mean that may not be . No, they dont know that at all, i can promise you. I mean, it may not happen, but i can i feel virtually assured that an analyst would not know one way or the other. Ever since the initial bid and fall. Ive been at conferences where these guys have slighted each other. This is not, you know, a collegial acc versus s. E. C. Game. This is much more of a kind of a fight club. They got a lot of spectrum from at t. When that deal was stopped by the department of justice, not to mention the slug of money, theyve just gone out and bought verizon spectrum. Yesterday we saw it the 700 megahertz spectrum and theyve got plenty of spectrum at tmo but the question is how long can they continue to price very aggressively and whether they hit a wall at some point. Lets not forget tmo and sprint have been remarkable stocks. And finally tonight the ceo of yahoo will give the keynote at ces. Alibaba, how big . Ill raise you and go to 200. Not on the ipo, but 200. You said no one has used that figure. Ive heard 150 billion and not 200. Why not . The growth rate is incredible. Off of a large base. Alibaba will be the biggest ipo ever. Its unclear if it will be the First Quarter of this year but were still hearing the first half of this year. Ive been recommending yahoo continuously because of alibaba because thats really what youre buying. The dow for a moment was up triple digits. The first triple digit gain of the year. Heres whats coming up next on squawk on the street coming up, hey, panda, what the heck are you doing . Its cold outside. Get inside and let cramer warm you up with six stocks in 60 seconds when squawk on the street returns. Behind what you. Around here you dont make excuses. What you. You make commitments. And when you cant live up to them, you own up, and make it right. Some people think the kind of accountability that thrives on so many streets in this country has gone missing in the places where its needed most. But i know youll still find it when you know where to look. Anncr vo introducing the schwab accountability guarantee. If youre not happy with one of our participating Investment Advisory services, well refund your program fee from the previous quarter. While, its no guarantee against loss and other fees and expenses may still apply, we stand by our word. Across the country has brought me to the lovely city of boston. Cheers. And seeing as its such a historic city, im sure theyll appreciate that geicos been saving people money for over 75 years. Oh. Dear, ive dropped my tea into the boston harbor. Huhh. I guess this partys over. Geico. Fifteen minutes could save you fifteen percent or more on car insurance. Well start with alergen. Rbc recommends it, the big eye drug, the patent issues will not be a problem. Goldman cuts allianz data. I disagree. Had them on mad money not long ago. I think business is great. Price target up for priceline. Fits into the zillow issue and it fits into yelp. This is a stock thats done nothing lately and i think you should buy it. Morgan stanley ups mgm. Had a lot of upgrades, i like wind better but its terrific. Perigo. People dont understand it and they have a change in the basis because theyre in ireland. Its the value play of the group. And then goldman, capital one, conviction buy. Do you know what the credit card Companies Make more money on the yield curve i agree with the call. You did diamonds in the rough last night. Whats tonight . We have worthington industries, theres a boom in steel going on. No one is talking about steel, scrap has come down. U. S. Steel has done very well. Do you know what . This is basic america and they do a lot of the lpg tanks and they do nat tanks and for those of you that believe natural gas is the surface fuel, this is the play. All right. Well look for it tonight. Lets look at this video from northern france coming in. A couple of managers are actually held overnight in a practice been known as boss napping. Goodyear has been trying to close this plant for a while now and the workers are demanding more severance but apparently the managers have been freed. I guess we dont have the video but it was turning into a pretty tense situation. France is really tough to get out of when youre there. Alcoa pulled out of italy one in italy and spain and they were able to do that which is remarkable. I think closing a plant in france is almost sacrosanct. Almost impossible. Well see you tonight, jim. Mad money 6 00 and 11 00 p. M. Eastern time. Coming up next, well have an interview with Samsung Electronics and former congressman ron paul on all things fed and, of course, the new fed chairman janet yellen in just a moment. Yeah, hes clean, boss. Now listen to me, duck. I have an associate that met with, uh, an unfortunate accident. While hes been incapacitated, somebodys been paying him cash. Now, is this your doing . Aflac . Now, if i met with some such accident, would aflac pay me . Nice. This is your stop. [ male announcer ] find out what aflac can do for you and your family. Aflac . [ male announcer ]. At aflac. Com. 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Ask your doctor about experiencing cialis for daily use and a free 30tablet trial. Good morning. Squawk on the street. A strange story happening in france. Two goodyear bosses were being held captive by their own employees inside a factory in northern france. Were now hearing that those bosses have been released. We want to go over to cnbcs stephanie pedrozi, whats going on there . Reporter good morning. Theyve been released by the police about 30 minutes ago and angry workers did not oppose the police, but they still want to negotiate. They didnt have the choice after the management of goodyear france decided not to start negotiations as long as the two men were held by angry workers. Its not clear what these workers are planning now. They say they will not leave the factory and will continue the battle until they will manage to start negotiations with the management of goodyear france. They are not trying to block the closure of this factory anymore but are trying to negotiate the best package they can for the 1,200 people who are going to lose their job because this factory behind me is going to shut down, to close, very shortly. Under the french law each worker will receive 25,000 euros, but union would like to raise this amount to at least 80,000 euros. Its actually whats been offered first by the management of goodyear two years ago when the company was proposing departure, a Restructuring Plan on a voluntary basis, but at the time the unions were rejecting this plan and they now want to go back to the table of negotiations after they released half an hour ago the two managers that were kept off stage nearly 30 hours. Over to you. All right. You can see the media circus, stefan, thank you for bringing us the live report as the action is unfolding there in france. Samsung meantime is a big story today. The tech giant posting its first profit decline since the Third Quarter of 2011. This as the Company Announces a new 12inch tablet at the Consumer Electronics show and making a push to the connected home with tvs and dishwashers talking to each other via the web. We spoke with the Samsung Electronics ceo. Samsung might be the most important Home Electronics company in the world now. And with tv innovation we see so much of the Technology Moving toward software and services. In the past google tried with google tv. To launch those kinds of software and services and get people interested. It didnt work. What will it take to make that work . Will samsung be able to do it . Translator the basic characteristic for a tv is that it provides video content to the viewers. In order to do that you need a bigger screen and very high picture quality. What consumers like to do in front of the tv is to share the content and the experience. So, whats important is that sharing the experience is easy to do. In order to do that we need better software, so with the tvs we provide, we want to provide consumers with bigger screens and Better Technology so that its easier to use. How do you as samsung with two different electronics divisions, one more weighted towards smartphones, tablets, pcs, the other more in tv and appliances, how do you Work Together effectively . Because more and more these different groups of devices need each other. They need to communicate really well. So how do you make sure you dont trip over each other as you try to race toward the future . Translator Samsung Electronics is divided into two large divisions. We have the hardware and the software. And we also have another division which is an overarching division called the Multimedia Solutions center which makes sure everyone gets to Work Together. Do you feel free as you run the tv and Appliances Division to make your products work with nonsamsung phones and tablets . If you wanted to make the refrigerators and washer, dryers and tvs work with iphones or work with motorola phones, would that be a problem . Translator we do have a basic tragedy where we build an ecosystem with samsung products but eventually we want an open ecosystems where others can participate. It will be challenging but that is our ultimate goal. And our john ford joins us live from las vegas. Reporter good morning, carl. Your thoughts on samsung and their execution and ambitions . Reporter b. K. Yoon recently elevated, a top executive, he was more comfortable speaking korean, very rarely speaks to u. S. Media. We talked about apple and how he expects to go up against them should they get into the tv market which a lot of us expect. We talked about sony, whether they can come back. He sounded confident but note when he talked about software, he talked about samsung leading in software not relying so much on a player like google which we know tried with google tv, hasnt really caught on. I also asked him about designing more products for the home. He wants to make a big push with washer dryers, with refrigerators, product categories that traditionally have been dominanted by women in terms of the lead buyer. Where theyve been strong, theyve had a few missteps some would say marketingwise with marketing to women and i asked him how they planned to do that. He talked about focus groups and whatnot, he talked about what happened with michael bay and the presentation on stage and he flubbed a line and got flustered and walked off, this will require a different level and preparation for samsung to be more broadly successful in this electronics market, but the ambition and success has been big up to this point. We talked for a long time how they are sort of getting used to the north american way of man t marketing which is different from the United States and korea. Have they founded to the michael bay story in terms of background . Reporter i havent talked to them. Michael bay did a mea culpa and got ahead of the prompter and the prompter operator got confused and he said it was my fault i got off the script and i wasnt good at adlibbing. It answered a couple of questions because samsung is known to tightly control their presentations and not necessarily finalize them until the last minute so theres a pretty good chance they didnt practice that a whole lot before they did it. Maybe they will in the future. John, when you talk about samsung, it makes me think of apple. I know apple isnt there, but certainly its presence is felt at ces. Whats the dynamic around apple especially the samsung versus apple . Reporter there is no love lost between these two companies. Its one of the rare companies in the modern era that steve jobs pretty much specifically called out before he passed away. At one press conference it was the antenna gate press conference, he kind of lashed out a bit, hey, would you rather a Korean Company kind of take over this market, cut us some slack here. So, he was frustrated with a lot of the things that samsung was able to do. Theyve been able to follow apple very quickly in some of these markets, some would say copy them and samsung lately has done a lot of things that apple hasnt been able to do. This appliance move from samsung, the ecosystem theyre trying to create throughout a smart home is an area they could potentially leapfrog apple because they have all of that capital investment. They have a brand in appliances, very strong revenues, well have to see if they have the marketing insight, the innovation insight to pull it off. We certainly know theyre a giant and that people have underestimated them in the past. Jon, great interview, look forward to a lot more today. Our jon fortt at ces in las vegas. Jpmorgan is agreeing to a major settlement, paying 1. 7 billion to settle criminal charges over Bernie Madoffs massive ponzi scheme. Scott cohen is live in new york with details on that. Good morning. Reporter good morning. The bank is learning the consequences of dealing with Bernie Madoff. As you said 1. 7 billion in fines for the Justice Department another 300 million to regulators for what the doj is calling willful violations of the bank secrecy act. And essentially not filing suspicious activity reports when they knew that there was an issue, not having basic controls in place in order to in order to catch this massive ponzi scheme. The bank is now out with a statement that puts a little bit of a softer touch on it. We recognize we could have done a better job pulling together various pieces of information and concerns about madoff from different parts of the bank over time. We do not believe that any Jpmorgan Chase employee knowingly assisted madoffs ponzi scheme. Madoffs scheme was an unprecedented and widespread fraud that deceived thousands including us and caused many people to suffer substantial losses. Many believe that the bank itself may have actually suffered losses but not to the tune of 1. 7 billion that its paying. And as you heard in the statement no individuals are being charged here. No one even losing their job. The u. S. Attorney has a News Conference scheduled for this afternoon. Well bring it to you live. Back to you. Scott cohn staying warm i hope in lower manhattan. Thanks a lot. Janet yellens confirmation marks the beginning to a long road ahead for the first woman chair of the federal bank. Former gop president ial candidate ron paul has always been highly critical of the fed. And hes host of the ron paul channel and he joins us this morning from texas. Congressman, good to have you back. Good morning. Good morning. Nice to be with you. 5626 some of the votes were missed because of the weather. Difficult to get back to the hill. But what kind of endorsement do you think that sends . Well, it sounds like its a pretty decent margin. But if everybody had been there, it might have been a little closer, but compared to other nominations and confirmations, it wasnt real strong. So, there are some reservations. And i think thats a reflection of the precarious nature of our economy. So, i think everybodys going to be a little bit worried about what will come in the future. And i think its more they should have more of a concern about the system and the Federal Reserve policies in itself rather than just one individual. I think its a shame that weve gotten to the point in this country that the markets just hang on every second of everything an individual like the chairman will say. It just is totally bewildering. Its so far removed from a free market economy when you have market rates of interest and you dont have one individual trying to direct an entire economy. So, identify thi wrsi think thal problem is. You talk about the impact the fed policy has on the market. Specifically what distortions are you seeing out there now . I think theyve started rather early. Weve had 100 years of distortions, you know, its ups and downs. They create the boom periods. They create the bad periods. You know, they prolonged the depression which even bernanke agreed that was the case. And the inflation and the problems of the 70s and this massive bubble, the housing bubble, it doesnt come out of the thin air. The free market economists predicted it was there. And weve had this correction that hasnt really corrected anything yet. Theyre just hanging on threads and theres only one tool that yellin or anybody else will have and thats also lower Interest Rate which means print more money and how can lower Interest Rates when theyre zero percent . I thought you might be happier with the Federal Reserve now that theyve embarked on tapering or scaling back some of the unprecedented qe in the system. Certainly its strengthening the dollar, i know you like to see that. If that had been a serious move, you know, the stocks probably would go down, you know, in the last year every time there was a hint that they might taper, the stocks went down. This time the stocks went up because there was strong reassurance no matter how much we taper, we will never raise the Interest Rates. How do you keep Interest Rates low . And that is by buying stuff and securities and treasury, so theyre always going to make the money free to the bankers so the reassurance was so powerful that it xen stated for the threat that they might be tightening. They kept saying were not tightening. Well taper a little bit on the longterm securities but were going to take care of you. Were going to keep Interest Rates low and, of course, its done a lot of good on the short run for the markets and i think this is what it was designed for. They hope, im sure theyre sincere, they hope the stock market will translate into a healthy economy. I dont happen to believe that and most of the people who are unemployed now and the lower onethird of the population, they dont believe it either. Shes the first democrat to be chair since volcker and she did win the hearts of a few republicans, 11 voted in favor. I wonder if you think they always say only nixon can go to china. Is yellen the one to bring the Balance Sheet back to some historical average . Well, you know, it wont happen, republican or democrat. Anybodys thats in charge of the Federal Reserve is going to endorse the whole principle of inflation and managing the economy. If you really were serious, i mean, in a way, you might compare it to volcker. He did some tough things. In the 70s to clean up that mess. But it would be ironic if he did, because she happens to have expressed herself that she believes in the opposite. Right. She is really an inflationist. So, id be really surprised. And besides, all this market has to do is say boo and there will be no more tapering and Interest Rates still stay at zero until the market overwhelms this mismanagement of Central Management of the Federal Reserve. Its always good to get your insight. Well see you next time. Thanks a lot. Carl, lets go back to stephen in france, more on the Goodyear Tire situation. We understand a fire has broken out . Reporter absolutely. Workers are going to start to continue their conflict with the management of goodyear. They just set fires to very expensive tires. Its about 100,000 euros worth of tires that are currently burning just behind me. It really shows theyre not going to give up. They still want the management to open negotiations on the severance pay. How much money each individual worker will get after the shutdown of this factory. Currently under the french law they will receive 25,000 euros each, but unions would like to raise this amount considerably and would like to raise it to at least 80,000 euros for each of the worker, each of the 1250 people who are going to lose their job. After being patient for more than 24 hours, the french authorities decided to stop the bossnapping situation in france. Two managers were held offstage by angry workers since yesterday morning. The head of production and the head of Human Resources were held off stages by angry workers. They left about 45 minutes ago, protected by the police. The angry workers did not opposed to the police, but clearly lawyer not going in th going to stop the battle as one of them told me a few minutes ago and just for now they lighted up a fire, very expensive fire behind me here, about 100 miles north of paris. Over you to, sara. No kidding. Well continue to monitor that one, thanks for joining us from france outside that Goodyear Tire factory. Up next on squawk on the street, millions of americans experiencing a deep freeze today. Frigid temperatures hitting anywhere from atlanta to minnesota. Just how cold is it going to get . Well have the details for you next. Mine was earned orbiting the moon in 1971. Afghanistan, in 2009. On the u. S. S. Saratoga in 1982. [ male announcer ] once its earned, usaa Auto Insurance is often handed down from generation to generation. Because it offers a superior level of protection. And because usaas commitment to serve current and former military members and their families is without equal. Begin your legacy. Get an Auto Insurance quote. Usaa. We know what it means to serve. Recordsetting cold hitting as many as 187 million americans today. Meteorologists are calling it the polar vortex. The Weather Channels julie martin is live in atlanta where its only 7 degrees outside. Julie, pretty unusual for atlanta. Reporter very unusual, in fact, we saw 6 this morning in atlanta, and that is the coldest weather weve seen here in 18 years. Windchills are still below zero. As you can imagine people here are kind of just shaking their heads at this bitter, bitter cold. You know, you mentioned the polar vortex which is now trending on twitter, by the way, and we are talking about every state in the country experiencing freezing temperatures today. That is pretty unprecedented. As far as atlanta is concerned, the city opened a temporary shelter. They say hundreds of people had to be transported overnight to existing shelters just to stay warm. School is out for the kids today, not only here but throughout the deep south and were not expecting much of a warmup in the next 24 hours here or elsewhere. In fact, it will be about thursday before we get above freezing here in the atlanta area, so it is going to be a long haul. And as you can imagine, i bet the run for retail sales for winter jackets and winter gear will be spiking even here in the deep south, carl . Julie, you got that right. Something weve talked about all morning long. Thank you so much. Lets get back to scott cohn who has more breaking news on jpmorgan and madoff, scott . Reporter and, carl, jpmorgan in this mode of basically cleaning the slate, one more step here. Weve told you about the 1. 7ed with settlement with the Justice Department in a settlement along that with the regulators. But now cnbc has learned that jpmorgan is settling with Irving Picard, the trustee who has been gathering funds for the victims to the tune of about 543 million. That settlement according to a source to be announced later today. No word on this from picard. Remember, that he sued jpmorgan back in 2010 for 6 billion claiming that the bank was at the very center of the madoff fraud. And a lot of those allegations found their way into the criminal information that will be filed today by prosecutors. Why would picard be settling for so much less than 6 billion . Well, hes had a tough time with this case in court. It has been a number of the pardon me. It is cold out here. A number of the claims have been dismissed and he was appealing to the u. S. Supreme court. This is a bit more of a sure thing, 543 million to go to the Madoff Victims on top of about 2 billion that jpmorgan will pay to the feds. Carl, back to you. Scott, its david. Sorry to make you talk a little bit more, but just refresh me. Picard is still going after, but hes towards the end of this at this point five years after the fraud, isnt he, in terms of collecting everything hes tried to collect from various people and firms that hes said helped or at least did not stand up and stop mr. Madoff . Reporter right. And hes not done yet. But hes collected, david, a little more than 50 cents on the dollar which is very good for a ponzi scheme of any magnitude, let alone the magnitude of the madoff case. And the hope may very well be by setting with jpmorgan it will get some of the other banks to come forward and some of the feeder funds hes still doing battle with and basically get more money to the victims quickly. But they have done fairly well thus far with about 50 cents on the dollar recovered or about 9. 5 billion, thats more than just about anybody expected going into this. Scott cohn, get back in the truck as we like to say in tv. Thank you so much for your reporting. The great scott cohn in lower manhattan. When we come back u. S. Vms exsac trader Matthew Martoma and what the prosecutors hope to gain. S p up 11, the best gain since december 18th. Back in a meant. If yand youre talking toevere rheuyour rheumatologistike me, about trying or adding a biologic. This is humira, adalimumab. This is humira working to help relieve my pain. This is humira helping me through the twists and turns. This is humira helping to protect my joints from further damage. Doctors have been prescribing humira for over ten years. Humira works by targeting and helping to block a specific source of inflammation that contributes to ra symptoms. For many adults, humira is proven to help relieve pain and stop further joint damage. Humira can lower your ability to fight infections, including tuberculosis. Serious, sometimes fatal events, such as infections, lymphoma, or other types of cancer, have happened. Blood, liver and nervous system problems, serious allergic reactions, and new or worsening Heart Failure have occurred. Before starting humira , your doctor should test you for tb. Ask your doctor if you live in or have been to a region where certain fungal infections are common. Tell your doctor if you have had tb, hepatitis b, are prone to infections, or have symptoms such as fever, fatigue, cough, or sores. You should not start humira if you have any kind of infection. Ask your doctor if humira can work for you. This is humira at work. Opening statements in the trial for exsac trader Matthew Martoma could begin as early as this afternoon in a Downtown Manhattan courtroom. Kay kelly is bundled up outside the courthouse with the details, kate . Reporter thanks so much, sara. Im standing in front of the federal courthouse where a jury selection in the u. S. Versus martoma is now under way. Started around 10 00 a. M. With a questionnaire to the jurors. Were told, though, that they will probably be sent home after they fill it out. We may not see the sitting jury until tomorrow morning and opening arguments in all likelihood wont be until tomorrow at the earliest. Matthew martoma and hils wife rosemary entering court putting on a brave face. The governments Insider Trading case against martoma is regarded to be so powerful. He stands accused of participating in and being the engineer of the largest set of ill gotten gains in an Insider Trading case ever 276 million in total and he faces three separate counts one of conspiracy to commit securities fraud and two of securities fraud. The u. S. Attorney for the Southern District of manhattan quarterbacking this case on the prosecutorial side has a formidable record to beat. So far hes won 78 Insider Trading cases this is since 2009 alone. He hasnt lost a single one yet. There are several still pending, however. Most recently very late last year before the holidays, his office managed to secure the conviction of Michael Steinberg, carl, who was a veteran trader at sac also accused of Insider Trading in several Technology Stocks in 2008. So, a tough road ahead potentially for martoma. Kate, its david. Yeah, you mentioned steinberg, of course, which many thought was the toughest case for the government to prove and yet they succeeded. Any sense as to what martoma is thinking here actually going to trial with case in which the government has the key witness who is the doctor that he allegedly paid off . Reporter yeah, i mean, they have two cooperating witnesses, david, and im potentially expecting to see both of them on the stand, but youre right, the witness who allegedly gave him the report containing the nonpublic information about elan and wyeth back in 2008 is expected to take the stand and has been cooperating all along. A tough case. The best explanation ive heard from a lawyer about why hes not cooperating, of course, that hes innocent, hes not the personality type to be a snitch, it takes a certain personality to go allin like that, so maybe, david, hes not built that way. He was built as someone who is going to go another route. All right. Be interesting to watch, kate. Stay warm. Reporter all right. Thank you. Meantime, Law Enforcement sources in new york say over 100 suspects including Police Officers and firefighters are being charged in the largescale scheme to defraud Social Security. Andrea day has all the details of that in new york. Reporter good morning, the sources say the scam was going on for years before it was finally shot down. I want you to take a look at footage we shot moments ago. New york city retired cops and firefighters all of them charged with ripping off the Social Security disability fund. All faked stressrelated illness due to 911 to rake in cash. Sources are telling us there are many more to come in the coming weeks. Sources say that the guys claimed they could not work but one was found as a helicopter pilot. Another was caught on camera jet skiing. And just about an hour ago, four men surrendered at the manhattan das office, they are accused of being the ringleaders in this case. One of them raymond lavali, a longtime attorney allegedly worked at the Nassau County das office. I want to read to you exactly what these ringleaders apparently coached all these retired cops and firefighters. I want to read to you exactly what they told them to say. They were telling them to say, i nap on and off all day. I have the tv on all day to keep me company. My family is always after me about my grooming. Im unable to participate in any kind of Work Activity at all. Again, more than 100 retired new york city cops and firefighters being charged in this largescale case. Well have much for you as the day goes on. Andrea, thank you for that. Also want to get to scott wapner, breaking news on herbal life. Were keeping our eyes on herbal life today along with new skin and some of the other Weight Loss Companies. The ftv is holding a news event at 11 00 eastern time. They said they would do it last week where they were expected to have a crackdown on marketing practices related to Weight Loss Companies. New skin and herbal life sold off on the news last week. What i can tell you according to my sources the ftc will announce enforcement actions, however no publicly traded company will be mentioned today at 11 00 by the ftc. Again, the most Important News is no publicly traded company, not herbal life, not new skin, none of the other publicly traded Weight Loss Companies will be singled out today by the ftc. But what im told the cases that will be announced are settlements that do include tens of millions of dollars but herbal life is not involved in that. You can see the stock is rallying a bit on the news that was already up 1. 6 or thereabouts and you can see the stock is getting a bounce off the report here that herbal life or any other publicly traded company will be singled out by the ftc. Thanks for brings us the breaking headlines on herbal life moving the stock. In case you havent heard, it is brutal outside. It feels like negative 30 degrees in flint, michigan, right now. Yes, negative 30. So, what kind of effect does that temperature have on a citys infrastructure . And daily life. Well talk to the mayor of flint right after the break. [ male announcer ] heres a question for you where does the United States get most of its energy . Is it africa . The middle east . Canada . Or the u. S. . The answer is. The u. S. Most of Americas Energy comes from right here at home. Take the energy quiz. Energy lives here. I it took a lot of juggling to keep it all together. K. For some lowincome families, having Broadband Internet is a faraway dream. So we created internet essentials, americas largest lowcost internet adoption program. Having the internet at home means she has to go no further than the Kitchen Table to do her homework. Now, more than one million americans have been connected at home. It makes it so much better to do homework, when youre at home. Welcome to whats next. Comcastnbcuniversal. About one hour into trading, here are the stories were talking about at 7 35 on the west coast and 10 35 on wall street. Netflix is the biggest decliner after being grou ining downgrad underweight to equal weight. Citing competition from digital streaming. Surpass the 1 billion mark this week and speaking of google the stock hitting an alltime high now up more than 53 over the past 12 months. Carl, it has been a moon shot. You got that right. Meantime, large parts of the u. S. Are beyond freezing right now as a blast of dangerously cold polar air hits the midwest and moves toward the east and the south and caught in the middle of the arctic cold is flint, michigan, where the temperature feels like minus 30 right now. On the cnbc news line from the frozen city of flint is the mayor dayne walling. Thanks for being with us. Thanks so much from michigan here. I was born in midland not too far from you, but i never lived through temperatures like this. How has it affected the city . It is tough. Michigan is used to midwest cold, but not this arctic blast. So, we have had to focus our Public Safety and our infrastructure crews, you know, on the conditions that the weathers causing. Weve had to stagger our road crews so that were constantly making progress on the snow removal. Its not just the cold. We also here in flint got 16 inches of snow, which is more than weve had in about 40 years. Im trying to think of all the services you have to manage, not just the city not just the custodial nuts and bolts of running a city, but fire, police, streets and san. Which has been the toughest so far . Well, its definitely the roads because of the combination of the snow and then the cold weather. But we also have our Fire Department out communicating with residents, helping to dig out fire hydrants. You hope you dont need it, but if you do, then you cant have a fire hydrant buried under a snowbank in this kind of weather. So, there are a lot of things that this kind of weather does affect. Mr. Mayor, weve seen flints economic struggles, been well documented over the years. Public finances in dire straits. How much harder does that situation make deploying these kind of resources during the storm . We knew this was coming and have a Great Management Team and a lot of hard workers, so were doing pretty well given the circumstances. It is michigan. We know we have tough weather in the winter, so this is harder than usual, where were going to have to monitor things in the coming days. It looks like well get some warmer temperatures that will help us thaw out, because the longer these cold temperatures go on, the more strain it puts on the water system and the road system. And there are costs associated with that. You know, being a business network, were trying to find the Economic Impact on all of this. Theres actually been some research that argues the jobs number on friday may be a bit soft because its affecting peoples ability to go out and land a job. Have you told employees to stay home . What percentage of the citys workforce is actually in . We only have a percentage of our Office Workers that are reporting in. We have a liberal leavetype policy in place so individuals who cant get in to work are able to stay home and take unscheduled leave. But a large percentage of our workforce is the 24hour crews with Public Safety and roads and the Water Service center with utilities. So, were definitely over a majority of our workforce is still in, but the schools are closed. A lot of families are just staying home, and i know our Small Businesses are feeling that impact. Well, do you feel the impact on a fiscal level, the spending on the cleanup and on deploying some of these resources . Is that going to make things worse for you . As long as we get the warm weather tomorrow, then these couple days of overtime wont be an undue burden. We always plan for a number of cold weather events over the course of the winter. So, as long as the weather snaps the way its predicted tomorrow, then were going to be okay. Mayor walling, well be thinking of you and all 200 Million People affected by all this. Thanks for your time. All right, thank you. Those temperatures unbelievable. All right, coming up next, millions of dollars are exchanging hands in atlanta today in the first major foreclosure auction of the year. People are camped out literally in the cold outside of the courthouse for their chance at these properties. And before we go to break, check out the markets. Got a tripledigit move on the dow. Breaking the losing streak. Well be right back. Mine was earned orbiting the moon in 1971. Afghanistan, in 2009. On the u. S. S. Saratoga in 1982. [ male announcer ] once its earned, usaa Auto Insurance is often handed down from generation to generation. Because it offers a superior level of protection. And because usaas commitment to serve current and former military members and their families is without equal. Begin your legacy. Get an Auto Insurance quote. Usaa. We know what it means to serve. [ female announcer ] who are we . We are the thinkers. The job jugglers. The up allnighters. And the ones who turn ideas into action. Weve made our passions our lifes work. We strive for the moments where we can say, i did it we are entrepreneurs who started it all. With a signature. Legalzoom has helped start over 1 million businesses, turning dreamers into business owners. And were here to help start yours. Take a look at two wellknown names we talk about a lot, at t and tesla, the two companies announcing they are teaming up. At t is going to wire current and future models of tesla vehicles in north america with highspeed wireless. Were talking things like engine diagnostics, internet radio, web browsing and live traffic and weather apparently accessible through a touch screen in the car thats about 17 inches across. Also announcing what theyre calling the first of its kind connected Car Innovation Center in atlanta which theyre calling the at t drive studio. Weve talked for a long time about the battle of your living room becoming the battle for your car. And after gm and priceline. Com the other day, heres round two. Smart cars. Its a whole new revolution. You watch the Companies Involved in the deals a while agoferrari announced a partnership with apple, there have been other examples as well. Yeah, the back seat is going to be a big battle in terms of content providers also, fullmotion video being provided over high speed. Is here. A buddy said i wanted to buy a car but its incompatible with my phone. The first major foreclosure auction of the year takes place in atlanta today. Millions of dollars are expected to be exchanged for properties. Diana olick is live with more. Reporter it was 7 degrees when the tents started going up and the bidders began arriving. As you can see there are small auctions going on as we speak. Most of them run by auction. Com but also a lot of trustees here selling the properties and this is not just individual investors. These folks may look just like regular folks but these are representatives of the major funds. Weve got American Homes for rent. Weve got Key Properties and, of course, the largest representatives here are from blackstones invitation homes. Now, the bidding began right on dot at 10 00. You have close to 100 properties will be sold here today. Properties ranging anywhere from 20,000 to over 300,000 the First Property actually sold for 160,000. Weve got a new report actually out today from core logic which shows the top markets for rental returns and they are changing. They are number one, chicago, tampa, orlando, right here in atlanta, and indianapolis. So, whats really going on is that the trade is moving from west to east. Unfortunately from warmer locales like phoenix and las vegas, california, here to atlanta and charlotte. And we expect many, many millions of dollars, as you said, to change hands right here today in atlanta. Back to you. All right, a big story people gathering behind you, diana olick, thank you for that. When we come back senator tom carper tells us what governments role should be in currencies like bitcoin. Hes been looking in to this and hell join us after the break. I always say be the man with the plan but with less energy, moodiness, and a low sex drive, i had to do something. I saw my doctor. A blood test showed it was low testosterone, not age. We talked about axiron the only underarm low t treatment that can restore t levels to normal in about two weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. Report these symptoms to your doctor. Tell your doctor about all medical conditions and medications. Serious side effects could include increased risk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. Ask your doctor about axiron. To get your best nights sleep [woman] aevery night. Ts like [announcer] why not talk to someone whos sleeping on the most highly recommended bed in america . [woman] ask me about my tempurpedic. [man] ask me how fast i fall asleep. [woman] ask me about staying asleep. [announcer] tempurpedic owners are more satisfied than owners of any traditional mattress brand. Tempurpedic. The most highly recommended bed in america. Save up to 300 on select mattresses during the tempurpedic model closeout event. Find a store at tempurpedic. Com. At a company thats bringing media and technology together. Next is every second of nbcuniversals coverage 0f the 2014 olympic winter games. Its connecting over one million lowincome americans to Broadband Internet at home. Its a place named one americas most veteran friendly employers. Next is information and entertainment in ways you never thought possible. Welcome to whats next. Comcastnbcuniversal. Tivo a Global Leader in the advanced Television Entertainment market demonstrating a network dvr prototype in the ces show in las vegas. Joining us first on cnbc, tom rogers tivos president and ceo. Tom, always good to have you. Weve been talking about tivo for years, of course, and the forerunner of technologies embedded in peoples living rooms and all over the place. But as smart tvs proliferate, what is the future for this company that youve been able to continually transform to sort of keep ahead when i can just hit the internet and get my netflix and get my amazon prime and anything else i need, why do i still need tivo . Great question, dave. Great to be here. Look, with all this innovation that this show puts forward for everyone, this is really a game of catchup for tv. And what i mean by that is televisions got to catch up to where the music world is. You know as all music consumers know, you can get any content to any device, streamed from the cloud wherever you you can stream your netflix and you can stream hulu and amazon but theres a world of television that is not incorporated within those services. And what tivo does enable you to effectively transform all of your television into that kind of future world where you want to stream to other devices. You want to be able to get at your favorite shows that may well not be on a netflix and hulu. What we give you the ability to do is use tivo as your set box. It brings in all your linear channels. All of your Internet Streaming Services like netflix, but allowing you to record all of your regular television and turn that into streams to send it to your smartphone, send it to your tablet. And what were finding along tivo subscribers is those that have the choice to extreme recorded television meaning the stuff coming immediately off their linear traditional channels, 76 of what they choose to stream, even though they have netflix, they have hulu, they have youtube, et cetera, is that recorded tv. When we demonstrate our cloud dvr which has really gotten some great embrace from showing it to operators overseas and were demonstrating it here in las vegas today, what were enabling people to do is effectively broaden their streaming universe, to do what music has done for a while and give people the ability to get any song anywhere they are to their device. Were going to do that with tv in a cloud dvr gives us the ability to do that. Now, tom, let me just stop you for a second. I want to understand the relationship between tivo and provider here namely the cable provider. Is that where youre going to maintain the relationship at this point for this cloudbased product . 12k3w whattivo has been is a cable for tivo box. For having a much better, more robust way to get television to that Television Set theyve invested a couple thousand dollars in. And with tivo you get the best way to watch it. And what Cable Operators started doing a few years ago is coming to us and saying, hey, we can build that right in to our set top box capability and use tivo as a Branded Service to take advanced television to our subscribers. Now we have the leadership position in providing advanced tv to Cable Operators here in the United States where we serve ten of the top 20 msos overseas where we serve a number of Cable Operators also. So, yes, very much working with Cable Operators who we still believe because theyve invested so heavily in their broadband pipe and internet based streaming certainly going to be a key to the Television World in the future and Cable Operators have invested heavily in that pipe along with the Linear Television they bring today, we think they provide a pivotal role to really bring advanced television to the world. Tom, finally, you guys are holding a tv bing nlg viewing world, how did that go . Well, were trying to get you over there, day, because we understand youre a hell of a binger. Sorry that you werent able to participant. Its in about the 16th hour. The world record is 86 hours. We got three bingers in our booth with special permission to be here around the clock through the convention to try to beat that 86hour record. Its sanctioned by Guinness World book. Weve got observer theres. Emt there. Interestingly, they are watching recorded television as choice as the way they are binging. So well see how it goes. But weve got three very dedicated Television Viewers going for the world record. Im glatd glad you got emt there, too. Tom, appreciate your time. Tom rogers from tivo. Thanks for having me back. When we return, should it be regulat regulated . Tom carper is witness to a vote going on right now recording jobless benefits. [ male announcer ] the new new york is open. Open to innovation. Open to ambition. Open to bold ideas. Thats why new york has a new plan dozens of tax free zones all across the state. Move here, expand here, or start a new business here and pay no taxes for ten years. Were new york. If theres something that creates more jobs, and grows more businesses. Were open to it. Start a taxfree business at startupny. Com. Who found a magic seashell. It told him what was happening on the Trading Floor in real time. The shell brought him great fame. But then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their Trading Platform. [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a. Shell. Get live squawks right in your Trading Platform with think or swim from td ameritrade. Happening right now, lawmakers on capitol hill are voting on whether to extend the Unemployment Benefits. We want to go straight over there and talk to senator tom carper of delaware. Hes head of the Homeland Security and talking about bitcoin. But first, the developing story. Are the senator democrats, senator, going to get the votes they need to extend Unemployment Benefits to more than a million americans . As you know, to proceed to the legislation we need 60 votes for to make that move. We have 55 democrats. We need at least five republicans. Well see. My guess is that well get to five or six republicans that we need. I think theyre willing to discuss the debate the issue. May not be willing to vote at this point in time unless theres some pay for this recognize it. But i hope we get to 60 votes. There are a lot of people, particularly in some states where the Unemployment Rates is 10 and higher, they frankly cant find a job. They need some help. This is one of the best ways to continue to stimulate the economy. No one wants to look heartless but when you have gdp running two to three, maybe better this year, who knows. When does the emergency, so to speak, end . I think the thing the of do is to let the extension end for states with low unemployment and those states where the Unemployment Rate approaches or exceeds double digit levels we want to continue to have a longer level of support for those people. We want to also come in here to bitcoin because your committee of home land security and Government Affairs has been doing digging on this topic of virtual currency. You held a number of investigations and hearings. So far, what have you found . Next to nothing about bitcoins and Virtual Currencies, 6, 12 months ago. Turns out the federal agency, treasury department, irs, Justice Department, Homeland Security, the consume proer tekz bureau, theyre on top of it. I was pleasantly surprised to see that they are xun indicating with each one, collaborating with one another. One of the themes that merged was basically this, when the internet was young people said, well, who cares about that . Some people say, potential. Some say it has Downside Potential with drug transactions and trafficking of money laundering. All kinds of downsides but i think the early message on the internet was lets not kill the baby in the cradle. And i think theres some upside here for bitcoin, virtual currency. Its not all together clear. We know theres bad stuff that can happen through the use of Virtual Currencies like bitcoin but also good things can happen to enhance transactions between sellers and buyers, can help internet and national trade, lower the cost of transactions. So i think the theme of the merchants that im hearing is less keep on eye on the bad stuff, try to tach it down, find the lemg lags we need to tamp it down. Thats what were doing. Im surprised to hear you outlining the benefits of bitcoin and how it can help the International Monetary system and trade system. In terms of the bad stuff, the illegal activity, how preventable is it for bitcoins future and how long before it becomes real legitimate mainstream currency . I dont know if its ever going to become a legitimate mainstream currency. What we know is that its not something we should do, do it an our own peril. There are bad things that can happen. We have asked the fbi, we asked the irs, what do we need to be doing to make sure those bad things dont happen. They told us right now we dont need legislation. They think they have the powers they need to go after the bad stuff if meanwhile, lets see what kind of good can flow from the virtual currencys like the bitcoin. We know youre going to continue to look into it. Thanks for joining us this morning. Thanks. Still to come this morning, Walt Mossberg is going to pick out the Top Technology at the consumer show. Wait until you see what he selected. But first, the next hour of squawk on the street starts now. Good morning. We are live here at post nine at the new york stock exchange. Lets get a check on markets. Triple digit gain for the Dow Jones Industrial average. The dow up 122 points. S p and nasdaq rising as well. Shares of netflix are slipping this morning. Morgan stanley downgrading the stop stock to underweight due to increased competition from hulu. Hbo go and amazon prime. And from one downgrade to another heerks citi downgrading shares of michael kors to neutral. Tech giant samsung making a major splash at the consumer electronic show unveiling a giant 105inch curved screen tv. What does the future look like for that company . More of our exclusive interview with the companys ceo in a moment. Speaking of the consumer electronic show, what cool gadgets should you be looking at this year . Ross mossberg will show them to us later this hour. Record cold weather sweeping across the country and what scientists are call that pole particular vortex. Well bring you a live look at the conditions on the ground and go behind the science of extreme cold with, who else, but bill nye the science guy. Im looking forward to that. First, from larger tablets to larger higher resolution television. Samsung featuring several new products here but in each category samsung still faces stiff competition from, of course, chief rival apple. John sat down with an exclusive interview with Samsung Electronics ceo to talk about just that. We expect that in tvs, as we see these innovations, samsung will once again come head to head with apple because they have said the tv is an area thats were interesting to them. Both companies have done well. Why should consumers expect samsung to win . Why would consumers invest in samsungs technology now instead of waiting to see what apple might come up with . Translator samsung has been number one globally in the tv industry for the last eight years. I think that samsung knows the consumers the best. We also have the largest green sizes, the highest picture quality, now we also have the curved screen so were closer to our consumers than our competitors. And i think those are the main reasons why the customers are going to choose samsung. What about sony . Costs are rise, trying very hard to turn around sonys tv business. Vn is helping a little now with exports. Some would say a lot. Can sony still come back in the tv business and give you trouble . Translator im sure it can do well but its very difficult for me to say specific things about our competitors. People are worried that theres a slowdown for sales at the high end of the market. Not just in smartphones, but in other areas, and that in certain emerging markets growth markets, the middle class isnt growing like it used to. What do you see happening in those areas and how does that affect youre out look on sales . Translator i think that its when markets are more difficult that we are given the greater opportunities. For the highend market we have an opportunity to devil even further into what consumers want. Same for the middle class. So in these difficult times we are given an opportunity to differentiate ourselves from our competition. We always try to think very positively. A snippet from the interview. John joins us now in las vegas. Great interview, john. It comes at a time when samsung saw its first operating profit decline in years. So are the big new fancy schmancy products that they have on show there going to be big enough to turn it around and almost to compete against apple . I think it will take a while. Its interesting you hear a mix of confidence there saying were so close to the consumer, particularly in tvs, we think we will be out to outsmart apple. He was kind of saying i dont think sony will be able to catch up without saying it. And also acknowledging some of the macro challenges at the same time. What samsung is really trying to do is something a lot of companies have tried to do. Not all successfully. Take advantage of their success in mobile, the brand theyve been able to build through good products and a lot of strong marketing and extend that into other areas, specifically more tvs and also the Home Appliance market. Market Research Shows that people are more trading up. They want higher end appliances. Samsungs brand is strong in that area. Theyve got good products. Hoping they can pull more people into there. Apple was able to do a Successful Transition from ipod to iphone and ipad but microsoft wasnt able to extend the pc dominance into mobile. Well have to see if samsung was able to pull at apple or if they happen to pull at microsoft which they dont want to do in this case. Talk to me about the south korean juan. Its been strong. I know thats been hurting samsung. Well, you know, i am not exactly a currency buff. Im a little bit more of a gear head. The juan didnt come up. I was proud of myself for mentioning the yen. Thats about as far as i go. I was proud of that, too. John, great interview with the ceo of samsung. Always pulling the card. Jpmorgan is agreeing to pay 1. 7 billion to settle criminal charges over bernie madeoffs ponzi scheme. Scott cohn is in new york with more details. Good morning, scott. Good morning, carl. That is just the start of it, 1. 7 billion. As you know, jpmorgan was Bernie Madoffs primary bank for more than 20 years and now the bank is learning the true cost of con sorting with the biggest ponzi schemer of all time. 1. 7 billion to the Justice Department. The vast majority of that will go to Madoff Victims. And in addition to that, about 300, 350 million to regulators including the office of the controller of the currency and then another about 500 million and change to private litigants. 325 of that going to irving pickard, the trustee who sooud madoff in 2010, sued jpmorgan, that is, alleging the bank was co come police is it. They sued them for many more times than that. That will go away and more money will go towards the victims. As part of all of this and the settlement thats going to be announced today by the u. S. Attorney here in new york is whats known as a deferred prosecution agreement. So charges will be filed against the bank. Two counts of violating the banks secrecy act but they will not be prosecuted as long as the bank essentially keeps its nose clean for the next couple of years. In a statement jpmorgan says we recognize we could have done a better job pulling together various pieces of information and concerns about madoff from different parts of the bank overtime. We do not believe that any Jpmorgan Chase employee knowinglies assisted madoffs ponzi scheme. Madoffs scheme was an unprecedented and wide spread fraud that deceived thousands, including us, and caused many people to suffer losses. No individuals from the bank will be implicated today. Thank you. Scott cohn. We do want to mention whats going on in washington. It does appear that were going to see a passing of an extension of some of these Unemployment Benefits. John harwood is in washington with the latest on that. John, good morning. Good morning, karlg. What weve just seen is a procedure vote in the senate that the senate decided, surprising to some people, by 6037 vote that theyre going to proceed with the debate on the extension of unemployment benefit. This does not mean that an extension is going to happen. You still have a political fight ahead. Republicans insisting that if there is an extension which cost 25 billion over the coast of a year that that the offset with cuts elsewhere in the budget specifically they are talking about some republicans talking about cuts to obamacare which, of course, the democrats would never agree to. So we dont know whether this is actually going to lead to a deal on either a shortterm or long everterm extension of pen fits but this is an unfolding process. The vote was scheduled to take place last night. Clearly republicans were wavering on that. The vote took place this morning. You have five republicans voting 55, democrats to proceed with the base so were going to see where this leads. Weve been talking about the degree to can which theres an up a appetite for this extense in washington, john. As you pointed out, what turned, what changed . Well, i still think that the an extension may not happen and that the appetite has diminished in a way that could prove decisive in the end. So we dont, again, we dont know the outcome of this when we get to the next phase. This just opens the senate floor debate. Then republicans want to offer amendments that certainly Many Democrats are going to object to. But i think you do have you see the power of the argument against leaving people out in an economy that is recovering but not recovering as robustly as many people wish to wish it to be. So one hurdle cleared, i guess, still though a question mark. John harwood the president will speak at 11 40 a. M. On this very subject later on today. Lets go on to the weather now, carl, because of the brutal cold temperatures. Over 4,000 flights this week were esktded. Most of those coming from the midwest and northeast. So how long will it take for things to get back to normal and moving again . Phil lebeau is live in chicago with more on that for us. Phil, good morning. Good morning. You know i think what were going to see is its going to take at least a couple more days for a couple of reasons. One, is weather is still impacting operations in the northeast, new york city airports as well as boston. Its going to take a couple of days for the cold front to go through there. 12,243 flights have been canceled over the last four days according to flight aware. Compare that to the number we saw canceled during super storm sandy a couple years ago and were it getting close to those numbers. By the way, more than 2500 canceled today. There are an average of 36,000 commercial flights a day. Since 2010 the airlines have been under new rules in terms of extended delays, keeping people on the plane, on the tarmac, and the risk of fines from the d. O. T. Well, since then, weve done some checking, the percentage of people sold, the airlines are going to be quicker to cancel, theyre t no going to risk a fine, its lower now than it was compared to 2001. My producer just called up some of the numbers and said, it may seem like more flights are being canceled but thats not the case in terms of overall percentage rates. Look at shares of jetblue. Jetblue, the stock has was under pressure yesterday because they canceled their flights from 5 00 yesterday through 10 00 this morning for the new york city airports as well as boston today. Its up fractionally. We have not got an update from jetblue yet regarding operations up in the northeast. My assumption is if they can get things starting back to normal, we should see them get everything back up and running over the next couple of days. All right. Thanks for the update on the major airlines. Phil lebeau joining us from chicago. Speaking of that record cold, how does a city function normally under these types of conditions . Well ask the major of madison, wisconsin. Right now somewhere in the neighborhood of negative 14 degrees. Thats next. [ male announcer ] start the engine. 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[woman]dont touch my side relative to its peers. Other winners here, tenet health care, st. Jude which has been on a tear lately. Mylan, wellspoint, all of them doing well in todays trading. The weather outside is really freaking cold. The socalled polar vortex spreading across the country bringing freezing temperatures that we havent seen in about 20 years. Nbcs katie is live in mexico, new york, on lake ontario. Im sure, katie, it is absolutely frigid there. I like how you say its really freakin cold. It is. Its so, so, so, so cold out here. It is zero degrees here in mexico, new york. Unfortunately its not the mexico down south and were not on the beach drinking margaritas doing weather story theres. We are up here in the snow. Windchills though are negative 20 or so. The wind gusts are coming at us around 35 or 40 miles an hour. Its let up a little bit since earlier this morning we were out here. But were still getting hit every once in a while. I tried to take my hood off for this live shot but its just way, way, way too cold out here. Blizzard over down in buffalo. Its the first time sthaif had that since 1993. Theyve actually shut the thruway down there. A few exits, too worried about all the snow thats being accumulated from the system thats just passed over us a few minutes ago. Its a little to the north of us over in watertown coming off of lake ontario. This is expected to get a few feet of snow once its all said and done by wednesday morning. There is some accumulation here. We have seen it snowing all morning here in mexico but the winds are so strong. Its blowing the snow around. All said and done, a few feet of snow and it is very cold but the warmup is coming. This pole particular vortex is getting out of here. It cannot come soon enough. Guys . Something tells me youre headed to the real mexico, katy, when the live shots are done. Oh, yeah. Thanks. That pole particular vortex is keeping most of the country in a deep freeze through wednesday. Madison, wisconsin, is experiencing windchills in the 35 to 40 below range today. How does that impact daytoday business . Lets talk to major paul soglin. Thanks or taking some time. Thank you. Have you been able to work through how much this is all going to cost you . Its not going to be an exceptional price. Most of the city is functioning. The Public Schools are closed but university of wisconsin is open. And most businesses are open. And all City Services are pretty much on track as they would be on a normal day. The biggest burdens are from Emergency Responders and the Water Utility. Water breaks, both under the streets and in basements, are our biggest concern right now. Carl, im just looking at the temperature right now in madison, negative nine. Last night, negative 16. Mr. Mayor, how dangerous is that for people to be outside . It is. Simply because frostbite can set in on exposed skin within a matter of minutes. And for people who have got arterial problems, Heart Disease, the cold weather can cause contractions, restrict the flow of blood and that obviously can lead to a heart attack. But were doing what we can. Were staging buses, for example, at our transfer points so that people can actually wait in the buses rather than wait in the unheated shelters. You mention the Water Utility and the breaks. Certainly anyone who owns the home in the midwest or northwest understands that. The emergency response, what kinds of things are happening . Are these slips and falls . Are these fires . Fortunately, fire calls have been at a minimum. Its mostly distressed motorists who are obviously stuck in their cars which they cant get started as they slip off the road. And, you know, were concerned then about their exposure for long periods of time in these subzero temperatures. Were watching the new new york mayor dealing with this in his first days in office. For you, what is exactly on your to do list as you deal with the city so disrupted by the storms . To be candid about it im not changing my day very much. Im getting occasional reports from city staff and the county emergency staff on what were engaged with in terms of stranded motorist, water main breaks. Thats basically it. My biggest concern is the water main breaks because of loss of water pressure and consequently what that means in we should get a fire to break out. If a city is well prepared. This is why people pay taxes and we have these Services Every day. If a city is well prepared day in and day out, you dont have to do anything really exceptional on a day like today. The only thing that survived this storm or this system is the 49ers, mayor, and that breaks a lot of peoples hearts where you are. Our thanks to you. Thanks. Mayor paul soglin, of madison, wisconsin, joining us today. Binge watchers, rejoice. They can record up to eight tv shows at the very same time. Is eight enough for customers . What about investors . Well talk about the ceo of dish network. Welcome back. How is everything . Theres nothing like being your own boss and my customers are really liking your flat rate shipping. Fedex one rate. Really makes my life easier. Maybe a promotion is in order. Good news. I got a new title. And a raise . Management couldnt make that happen. [ male announcer ] introducing fedex one rate. Simple, flat rate shipping with the reliability of fedex. Tdd 1888648602121 tjust waiting to be found. Ties tdd 18886486021 at schwab, were here to help tdd 18886486021 bring what inspires you tdd 18886486021 out there. In here. Tdd 18886486021 out there, tdd 18886486021 there are stocks on the move. Tdd 18886486021 in here, streetsmart edge has tdd 18886486021 chart pattern recognition tdd 18886486021 which shows you which ones are bullish or bearish. 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[ male announcer ] find out what aflac can do for you and your family. Aflac . [ male announcer ]. At aflac. Com. Satellite tv jiblt digiant at the consumer electronic show. They will allow consumers to access tv live anywhere. Julia is joined with dishs ceo joe clayton. Julia, take it away. Thank you, sarah. Thats right, joe clayton, ceo of dish. Thank you for talking to us today. Good morning, julia. Here youre unveiling a new bigger way to roll out your hopper technology to more users, more devices. Now, this technology had some major backlash from the broadcaste broadcasterses. Can you tell me how much revenue is added . Well, our subscriber counted or customer counted is now over 14 million. And that might be a little misleading but were getting a Higher Quality of customers. Higher income, better education, and well spend more on programmi programming. So were providing a better featured product for the consumer. The broadcasters say youre undermining their entire Business Model with a hopper which can automatically skip prime time tv ads. Doesnt this risk hurting your own business . Well, i would encourage all the broadcasters to ask the consumer what he or she wants. And i i here at the consumer electronic show where the power of innovation is in front of us, lets use technology to bet forecuss our tv spots and commercials to better serve that appropriate audience. We do a half a billion dollars in advertising a day so we are not against advertising. We just want it to be better focused and more efficient. So the hopper is such a good technology. Dont you risk having your rivals copy it . We just keep setting the bar higher, julia. 2012 we introduced the hopper. That was a costeffective product with a lot of features. Last year we sbro deuced hop were sling which brought the mobility capability to it. This year were introducing super joey which allows you to record up to eight programs at one time. That may sound like a lot but if youve got five kids like me its not enough. Its never enough. Youre getting a lot of attention for giving away free ipads so your customers. Is this something you have to do because youre the number two player behind directv . No the reason we are doing this, this gives the consumer the best possible video experience, period. It gives you the capability to take your content, either use it in the home or the on the go. And the best opportunity to do that today is with a tablet. So we think were giving the consumer exactly what, again, what he or she wants. You face increasing competition not just from directv, the other satellite tv company, but also from the cable tv companys, from the telecom company, and from all of these other over the top potential cord cutting options. Do you need to consolidate with the likes of directv to compete . Well, consolidation is going to happen whether we want it or not. Thats just the nature of corporate Business Today. But we do have to differentiate our product. Thats why the hopper technologies are so important to us. We have to offer things that none other competitors do, like prime time any time, auto hop, 2,000 hours of storage capacity, even something as simple as Remote Control finder. Were using technology to enhance the buying publics appetite for our product. But, so, when youre looking at the big picture, though, and the competition and especially the potential consolidation in the cable space, what does that mean for dish . What does that mean for dish this year . Well, i think consolidation will be a tougher competition. Ultimately it better be better for the consumer. That is the bottom line for any type of product. I know you had talks with ario. Are you going to partner with them or create a rival technology . Well, im not aware of any talks with aereo but we are a technology company. We do challenge the status quo. So we follow it very closely. So there is nothing happening that im aware of. Okay. Well have to see what happens there. Thanks so much for talking to us, joe clayton, ceo of dish. Now we have your kangeroos. Yeah. Have you ever been flash mobbed by a group of kangeroos, julia . Thanks so much. Back over to you guys. It was just getting good, julia. What are you talking about . Thats vegas for you. Thank you so much, Julia Boorstin at cvs. What does an device and chrome book have in common . All products that walt mosss it is berg says you need to be paying attention to this year. Walt is live in las vegas. [ male announcer ] the new new york is open. Open to innovation. Open to ambition. Open to bold ideas. Thats why new york has a new plan dozens of tax free zones all across the state. Move here, expand here, or start a new business here and pay no taxes for ten years. Were new york. If theres something that creates more jobs, and grows more businesses. Were open to it. Start a taxfree business at startupny. Com. Stock markets are closing in europe. Stocks are getting a lift from upbeat economic data. In germany, jobless claims fell. And a number of retail sales rose by a expected bn than expected. Thats drawing some concern. Also ireland drew Strong Demand for tenyear bonds in the countrys first debt sale since exiting the bailout. The policy announcement due out on thursday. Look at how the major european markets did breakdown. Theres london, paris, germany, italy, and spain. Earlier in paris at a joint News Conference with the french finance minister u. S. Treasury secretary jack lew called on europe to do more to capitalize its banks. Take a listen. We made no secret over the years that we think having backstop,s in place is very important. We would like to see more action taken. The more capital that there is in european banks and the stronger the backstop,s are, the better it is for the european economy, the u. S. Economy, and the global economy. Jack lew doing his best to try to get the europeans to keep their foot on the gas. Heres how the european banks faired in todays session. And that fear of deflation continues to torment some of the european investors and economists. Maybe not the stock markets. No, not the stock markets. Thats been a surprise from 2013 translating into 2014. That is good stock stock markets in the peripheral nations. Look at requiireland. Bob pisani is on the floor. Hey, bob. Back in positive territory. Look at the dow. For all the worrying what happened to the stock market yesterday, my havey heavens, people are bombarding me. Nothing is wrong with the stock market. Were 30 points away from basically going even on the year. I tell you what im surprised about. The opposite. I thought there would be more volatility. This is the dow. This year weve moved, 150point range. Thats nothing, folks. Thats very, very low volatile by. I thought we would have more action, i thought the volatility would be higher. I stuck mri neck out and said i thought the vix would go over 15 and stay there for a while in january. Wrong. The vix touched right near 15 at the end of the year and basically collapsed. This is a near the lows for the year for last year, for heavens sake. The volatility really hasnt emerged. Theres not a lot of big bets emerging and not huge volume. Meantime, lets look at the groups moving on the deep freeze here. Major sector of whats going on with the natgas stocks. Major mover. The energy group has overall been a laggard this year. Hospitals, we saw cyh, 2014 outlook. Revenue wasnt great but they talked about the impact of obamacare in a positive way. Thats why the hospitals are all moving. This was the First Company cyh Community Health to give an indication and generally its positive. Theyre interpreting it positively. You see the hospitals all of the to the upside. Finally, i dont normally talk about the trade deficit but the numbers were much, much bigger than anticipated. Near record exports, deficits, much lower than expected. People are dramatically raising their Fourth Quarter gdp on those numbers. 4 now instead of 3. 8. Morgan stanley is at 3. 3. Barclays is at 3 . A lot of Big Companies right now, guys, are actually percent gdp for the Fourth Quarter. Thats certainly very important number to get over. Back to you. Its a theme in todays session. Bob pisani, thanks. That brings us to more on the economy, that better trade number raising gdp forecast. Economists across the street. Steve liesman has more on what the new outlook looks like for the economy. Its hard to emphasize what bob was talking about thanks to this surprise movement in the trade numbers. We look to be on track for our best two quarters of growth back to back since the beginning of 2012. Heres your rapid update. We take the numbers we collected. Survey of ten economists by cnbc upping their forecast by a fairly large half a point to stand right at 2. 97. Together with the strong growth number for the Fourth Quarter puts the second half average at 3 1 2 . Tail of two 1 2s right here. 1. 8 in the first half. After a string of better than expected Fourth Quarter numbers the growth pessimists are perplexed and the optimists are giddy. The narrower trade deficit means one thing for growth starved americans. That real gdp may indeed break 3 sound barrier in the Fourth Quarter and for the right reasons demand is running overtime in the u. S. Economy. That Fourth Quarter selloff never happened or downgraded in growth. I hear the trade number, 34. 3 , 40 billion. Exports up near a percentage point. Imports down 1. 4 . Look at the petroleum number. Onetime thing but more and more as america produces petroleum and exports on that petroleum number is going to look better and better. Nonpetroleum deficit, 1. 2. Better job numbers a proer more fed inflated. Theres still a lot of skepticism out there that weve been here before. A couple of quarters of strong growth in this post financial world give way once again to weakness. 2014, guys, the year the u. S. Economy can finally put it all together. Seems like more and more thats been the story for 2014. Back to you. Answers to questions that we dont yet have but were certainly curious, steve, thanks again. Steve liesman back at mq. Annual on super electronic show is under way in hlas vegas. Heres with his review, is Walt Mossberg, coexecutive director of revere dinlg tell. A reminder msnbc news group is a minority stakeholder. Walt, great to have you back, especially now as brother in arms. I feel the same way. Terrific. Walk us through what youre looking at. Obviously any sort of blessing by you is a big deal for some of these vendorses and these suppliers. Were going to look at five of these. What do they all have in common . Well, they dont all have things in common except they solve different problems for people and some of them are in some of the most interesting areas like wearables and biometrics and so why dont we just jump into it. First up, something called the live home, right . This is the live home. And really anybody out there with an iphone knows that they have a feature called photo stream. You take a picture on the phone and it just kind of magically in the cloud gets synchronized to your ipad, your mac and so forth. But that only works within apple products. And primarily thats what its meant for. So what the lyve product does is takes that concept and it doesnt matter what phone you have. So earlier these guys took a picture of me on this android phone. And you can see that it went to this ipad, apple ipad. It didnt care that one was android and one was apple. Then they have this then they have this box which also receives the picture. Its got its own touch screen. And theres the picture of me. And you can and the thing about this is, it gives you a huge amount of extra storage. Much more than you would have on any of your mobile devices. And you can use it as put it on your night stand, use it as an alarm clock, whatever. The point is its yeah, right. So its just you dont have to worry anymore about running out of space on your phone. And by the way, also, videos. That is the lyve product. I want to just before we run out of time, get to other products including something out from toshiba. Something what . Out from toshiba, out with the new cream book. Yes. This is toshiba is jumping into chrome books. Why does this matter . Chrome books are a google idea for computer that is different from windows or mac which weve all been used to, in that most of the storage and all of the apps are in the cloud. Youre running it true a chrome browser. And it now, the prices are very low. Theyre under 300. This is a 13inch toshiba one for 299 but there are even less expensive ones. Whats interesting is this Holiday Season chrome books suddenly started taking off and by some estimates as many as much as 20 of notebook sales in the u. S. Namely he the ones we talked about. Chromebook is one to look at. I want to skip to the myris authentication. What do we know about that . So youve all seen the movies where people get into secret rooms at the nsa or whatever using their eyes. This is what this is. This is just the first iteration of it. I look i keep showing it my eyes and its going to log me into this computer hopefully and there you go. You see that screen . It logged me into windows with mu just my eyes. Theres a mirror there that look at your eyes. Once you trained it once, it will recognize you. Obviously you dont necessarily want this big thing so they are moving by the end ft year to build this all right into the computer. And thats biometrics. Thats another way of identifying you without worrying about passwords and that sort of stuff. And apparently works through eye glasses as you just demonstrated. Yeah, you have to train it well, theres theres the lacie fuel. Portable wifi equipped hard disk that has an enormous amount of storage for photos and videos. And i can play a movie on this ipad and this movie is actually coming off this lacie and it can do multiple devices and set up set up, i think its five devices with video. But i want to show this one other thing quickly because wearables are a big deal. This is an electrocardiogram. This is from ihealth. Its not if any of you have had a cardiogram you know its a million wires and leads on you. This thing you just wear under your shirt and it has an ipad app and it shows theres somebody here from the company and thats his cardiogram. And you can send it to the doctor and its just one of many, many healthrelated things that are coming along that people can wear. The great thing about ces, it shows you where were headed down the road, walt. Thanks so much for walking us through that. Try not to get kicked out of any parties. Im just sticking with tmobile and going to all the paeshts. Walt mossberg in las vegas. Thanks. I think hes having too much fun with the gadgets. Earlier this hour the Senate Moving Forward with the extension of longterm Unemployment Benefits. We await a speech from president obama on unemployment ben fitsds in just a moment. [ male announcer ] legalzoom has helped start over 1 million businesses. If you have a business idea, we have a personalized legal solution thats right for you. 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Its a problem waiting to happen. Check your credit score, check your Credit Report at experian. Com. Some high fliers are losing altitude today thanks to a rash of downgrades to some of 2013s biggest winner, netflix, kors linked in. Should you move away from the gain or buy the dip. You might hate the polar vortex but some people say hercules is the best thing thats happened to their company. A boost in call volume since the storm. Hes going to tell us what hes doing at the big airplanes simply can. And if youre looking to pot to invest in, that, is theres a marijuana related private effect quitity fund in the final launching stages. This is all straight aid head on the half. Got my attention there for a second, scott. Thanks, scott wapner. Moments ago the senate slottslo voted. The president soon will deliver remarks on why benefits should be extended. Chief koerncorrespondent in washington with more. John, what is going on here . Its a dynamic process, carl. We saw more republicans to vote than we expected to continue the debate. But this doesnt mean it gets over the finish line. First of all, youre going to have republican attempts to amend the temporary extension on the floor with things that would pay for the extension, things like taking money out of obamacare. The democrats wont want to do. Even if they can clear those hurdles and get 60 votes in the end, to get to a final vote and pass a temporary extension youve still got objections from the house. Talked to a leadership aide a while ago who said this is not likely to go anywhere unless the president proposes a credible plan with pay fors and incentives to create jobs and no indication the aide said there was no indication the white house intends to do that, thinking that they want to Campaign Issue for 2014, the midterm elections. So were going to have to see whether or not you have further erosion of the republican position which would make it possible for a deal to be struck and the president is going to try to make that happen with these remarks. All right. John harwood in washington. Thanks. As we await the president. Meanwhile, cold weather fostfost forced the cancelation of 12,000 flights over the past few days. Minnesota suffered minus 40 degree windchill, ten degrees colder than nasa mars rover experienced yesterday. How dangerous is the polar vortex and why is it grinding many business toes a halt . Were going to look at the Science Behind it. Bill nye, executive director of the Planetary Society and all around science guy joins us. So, bill nye, enlighten us. What does negative 40, negative 30 degree weather mean for human kind . Its very difficult for a human to be out there exposed as the saying goes. For me, the engineer, member of tech logically advanced society, means were going to use a lot of electricity to keep warm, to move around, to thaw things out. I dont know that our electrical power groid is up to it right now. Were going to have to enhance it in the future. And were getting to a point where its so cold, how cold is it . Even jet fuel is becoming slushy. Thats really unusual. So this sort of thing slows everything down. You slow down transportation. You slow down the economy. Not anybodys best interest. Just talking about the impact on people and on our bodies for a moment, we watched this weekend some of us watched the game between the packers and the 49ers in frigid temperatures. What we saw was theyre wearing short sleeves like nothing covered. Kaepernicks tattoos were out. How stupid is that . Those guys stay pretty warm between plays, you know, between if youre on the offense and defense is on the field, youre standing there keeping warm. And this is, i got to say, as a visitor, this is something that the people in green bay seem to pride themselves on. That aside, the Economic Impact of this is high. And what if, as i always like to bring up, what if this is the future, what if this dipping arctic or polar vortex is the way its going to be often over the coming decades . Were not really set up for it. And were in the developed world. We are in a place where we have all this infrastructure and means for most people to keep warm. There are other places where its not set up like this. People say to me, are you saying the world is getting warmer and yet its cold like this . Check us out on friday, it will be 60 degrees fahrenheit in some places in the United States just, if i may, like that. Yeah. One upside of this, i imagine, though, this might kill some of these insects which are attacking our forests. This kind of cold snap may have may may have a slight benefit in that regard. Otherwise, were just not ready for these kinds of rapid changes. I dont know if our agricultural systems are set up for it. Were looking at some video of airplanes. A lot of our audience flies. Theres been some discussion of just how deicing works, this mix of water and glycol alcohol we put on the wings and the stabilizer on the planes. Is there a limit to how well that works . No, its fine. Its perfect. No, of course there is. Of course there is. This gets into what we we call judgment. Are we there . This is what we hire professionals in the Airline Industry to check on. Two problems with ice. First of all, its heavy and so youre taking off with a lot of extra mass or youre trying to fly with a lot of extra mass. And the other thing is it changes the shape of the wing. And the air doesnt flow over it in the predicted way. And so its hard to operate the plane. But this is what these people do, everybody. They deice planes and they make sure theyre okay before they take off. With that said, it takes a lot of extra time for anybody who is a frequent flier, flies on an airplane this time of year. It takes a lott of extra time to get the ice off the wings. No doubt. You mentioned the weight the adds cost to air service. You mentioned the lift and thats not even regarding getting the runway plowed and making sure those tiny potholes dont harden and make that takeoff more dangerous to the tires, for instance. And slipping. Ive only experienced this a couple of times. I went to school in western new york state where once in a while it got very cold, 20 below. One time it was 30 below. Where the tires of the cars are not quite round for a few minutes. I dont know if youve ever experienced that. Wow. Ive had a lot of people, my friends in minnesota, talk, oh, yeah, its no big deal. As the car rolls, the tires get a little bit warm and soften a little. But its just another sort of surprising thing that happens when its this cold. What about kucomputers, bill . New technology, how does it fair . Does it get frozen by some of the weather that were having . Anything to worry about here . It. Goes two ways. First of all, nominally as a first cut, electronic circuits work a little bit better when theyre colder. Just a little bit. However, batteries work many, many times worse when its colder. So if your phone gets cold in general you have a much shorter battery life. And so this is we recommend if this is your issue, if youre there right now, keep the phone close to you where your body heat will keep it from losing a jolt. And then you may have seen all the traffic delays that result when you cant start a car. The loss of productivity, people cant get to work when their car wont start when the battery is dead, let alone the issues with starting airplane enjoys. Our thanks for your ensight from los angeles, bill nye, the science guy. Heres the president talking about jobless benefits. Introduced from Catherine Hackett who wrote to him as someone effected by the failure to extend. Good morning, everybody. I hope youre keeping warm. You know, a few weeks ago i said that 2014 could be a breakthrough year for america. Think about it. Five years ago this month our economy was shedding 800,000 jobs just in one month. But as americans buckle down and worked hard and sacrificed we began to come back. And our businesses have created more than 8 million new jobs since we hit the bottom. Our Auto Industry has gone from bust to boom. Manufacturing is rebounding. The housing markets are rebounding. Stock markets are restoring. Retirement accounts, the promise of Energy Independence sack chully in sight. Health care costs eat up less of our economy. Over the past four years costs have grown at the slowest rate on record. And since i took office weve cut our deficits by more than half. So america is getting stronger and weve made progress. The economy is growing and weve got to do more to make sure that all americans share in that growth. Weve got to help our businesses create more jobs. Weve got to make sure those jobs offer the wages and benefits that let families rebuild a little security. In other words, weve got to make sure this recovery leaves nobody behind. And weve got a lot of work to do on that front. The good news is im op mystic, we can do it if we do it together. Now, before the holidays both parties compromised on a budget that lists some of the drag thats been on the economy, from these indiscriminate cuts we call sequester. And as a consequence this year, we may see more stability when it comes to economic growth. And i think im not alone in saying that we are all greatful in well bring you the highlights of the president s speech there on Unemployment Benefits. In the meantime, the dow is hanging on to a triple digit gain. Welcome back. How is everything . 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Look, you dont have to feel trapped with our raise your rate cd. If our rate on this cd goes up, yours can too. Oh that sounds nice. Dont feel trapped with the ally raise your rate cd. Ally bank. Your money needs an ally. Welcome to the halftime show. First half are in the books. Lets look at whats happened so far. Were 70 points away from being break even on the year. Momentum is back and the analyst fight momentum on a daily basis. Oh, yeah, there have been some stubborn bears on netflix. Natural gas futures are among the best performing today. Its rising as we are looking at increased heating demand with these record low