On cnbc. Im dominic chu. Im seema mody. What a big day it is. We had a massive reversal yesterday. All of a sudden its carrying through into today lets check the Global Markets this morning starting with the u. S. Futures picture were seeing quite a bit of green across the board right now the Dow Jones Industrial average will open up by 250 plus points the s p by 21. The nasdaq up by 56, 57 points lets check on the ten overtreasury note yield because it has been a very big battleground for many traders. Arguably one of the biggest driving forces behind the recent market volatility. Interest rates now, 2. 92 , multiyear highs for that longerterm u. S. Treasury note well see if that stays the game given todays other big inflation data coming out, the Producer Price index interesting that despite the rising inflation picture, stocks still ended higher we are higher premarket as well. Many asian markets are closed todayt for the chinese new year, japan did remain open. The japanese nikkei closing higher by 1. 5 look at the story in europe. Early trade there, its green across the screen. The dax up 1 . The french equity index higher by 1. 5 . So solid gains in early trade. Lets check out the commodity picture. Oil prices for now, seeing some green on the screen. Wti 61. 15 thats almost a full percentage price to the upside. Ice brent, 64. 63, up about a half percent turning our attention to the gold prices. We had saw some shortterm momentum to the upside as of late a weaker u. S. Dollar at pockets during the past few weeks has been responsible for some of that move. The last trade for gold, 1,357. 10 a decent move higher the weaker dollar has been a big part of the surge weve been seeing in commodities as of late you can see the dollar is weaker against the euro, 1. 24 and against the yen, 106. 47. So breaking below 107, a see psychological level traders are watching looking at bitcoin, it is higher today. Yesterday gaining more than 10 . It is now getting close to breaking 10,000 trading at around 9,600. Today the cftc is examining penning rulepen penning pending rules around cryptocurrency regulation. That regulatory story has been a factor behind the rebound weve seen lets talk about the markets with gina sanchez. It was just yesterday on this show when we had a number of guests talking about how inflation data would be the key to trading it turned out it was but it didnt play out exactly how some had thought. A lot of Downside Pressure then to reverse and see a nice upside gain what is the inflation picture telling you about the markets today . We have not seen much evidence that inflation is necessarily going to pick up in the longterm. We could see some shortterm inflation pressure but if you look at how wages have been acting, theyve been muted. As unemployment has fallen, we have not seen dramatic wage increases. And that relationship to us tells us that there is going to its going to take more before we see significant inflation. On the other side of wages, inpi input prices, you have pleasure to the down side on oil if anything granted saudi has agreed to up their pressure and supply cuts in order to Keep Oil Prices propped up due to the saudi aramco merger. We dont see that as an immediate pressure to inflation. Its hard to tell where the story is coming from i think this is a story about unsustainable debt loads in the u. S. In a rising rate market yesterdays report did show us inflationary pressures are building if that continues how should investors reallocate their stock portfolio . We would see that as largely transitory we dont see those numbers as being pushed by anything that will stick around for the longterm. Some of that might be a stimulative effect we could see tax stimulus for 2018 and 2019, but those effects will fade and fade quickly that said well probably see a bump to earnings in 2018 so we could see a stop and go year that actually still is favorable to equities. But i think its going to be a lot bumpier ride this year one thing weve been watching is a market that pulled back towards that 10 plus level, something we have not seen since the latter part of 2015 into 2016 the first time weve seen that correction that traders like to refer to what does that tell us with regard to Risk Appetite in the market, and does this happen despite the fact we have what looks to be a sustainable upward trajectory for Interest Rates in the itseu. S. And maybe globally . A lot of that correction was necessary. Its part of a healthy market cycle to have regular ups and downs. If you look at the up days versus the down days, this was largely overdue. It did not take much out of the multiple were still at high multiples despite the correction at the end of the day, earnings are at a pace they can easily make up what was lost on the multiple side. We dont see this as something that is screaming problematic. And we do see stimulus helping earnings over the course of the year however as i said, volatility is up, and i think volatility is here to stay it would behoove a lot of investors to consider hedging their positions because the likelihood of a nasty downturn is increasing. Forecasting is tough, but lets talk about what youre telling your clients now when they ask you what you think the tenyear u. S. Treasury note yield is going to do, what is your forecast . Weve been underweight treasuries since the beginning of the year. We went underweight at the end of last year so waiting for this, however treasury rates are on the rise, we are seeing the Unemployment Rate gap close we have seen a lot of evidence that tells us that Interest Rates should continue to rise. That said expectations for inflation will likely be disappointing. But that doesnt mean you shouldnt stay away from treasuries probably for at least the first half of this year. Gina sanchez, thank you very much for joining us to talk about rates and the inflation outlook. Its a busy day ahead for economic data. Weekly jobless claims are out at k 30 a. M. Eastern along with january ppi and the monthly philly fed survey. At 9 15 a. M. , Industrial Production look for results from cbs and shake shack after the closing bell. Cisco systems posting a net loss in the Second Quarter due to an 11 billion tax related charge but excluding those items they reported their first quarterly revenue rise in two years. Cisco plans to raise its Buyback Program by 25 billion and repate yacrepa repatriate 67 billion in cash overseas Chuck Robbins will be on today at 9 00 a. M. Eastern time. Netapp swung into a q3 loss due to a tax related charge. Adjusted profits did beat forecasts. The Fourth Quarter outlook was in line with estimates nestles fullyear profit fell 16 the decline was mostly due to cash flow issues at its skin health business. Organic sales growth fell short of expectations. The company will not renew its Shareholder Agreement with loreal, though it will remain an investor. Shares of airbus are higher today. The planemaker reporting a rise in fullyear adjusted profits and Free Cash Flow that helped offset a 1 1. 6 billion charge related to issues with its 400m military transport jet. Marriotts Fourth Quarter profit falling on a charge due to the new u. S. Tax law and other issues adjusted earnings beat forecasts. Revenue rose 8 as more people booked rooms at higher prices. Shares of tripadvisor surging today. The travel site reported higher than expected revenue in the third quarter. Sales from the Hotel Segment fell but that was offset by a 26 jump in nonhotel revenue which includes attractions and restaurants. Tripadvisor has been putting money towards experiences. So individuals looking to book a tour or an experience of some sort a cooking lesson while in italy. Its been really trying to build that part of its business. It seems to be working we saw monthly unique visitors rise as well, which shows you people are not only visiting the site to gain content but booking travel as well as experiences on the site monetization has been a big concern for tripadvisor. Seems like theyre Getting Better at it it seems like theres a haves and havenots in hosity tall py lately hilton yesterday said they will better booking revenues, better average room night costs, more online stuff going on, but those stocks may be unpressure but tripadvisor jumps 16 . Its a content site that drives people to book on other platforms. Tripadvisor lost 26 in 2017. So youre seeing a bit of a pop today. But the broader story is important. To your point, marriott, hilton, wyndham for the most part solid earnings, i would say. Those stocks gained over 35 in 2017 so seeing a bit of a pullback here, but coming off a strong year were just Getting Started on Worldwide Exchange. Coming up next, big moneys big bets, where some of the most notable names on wall street are putting their money to work. And bashing bitcoin. What Charlie Munger said about the cryptocurrency that is getting buzz today enll bring you his comments wh Worldwide Exchange wh Worldwide Exchange returns. Ons contracts . 1. 50 futures contracts . What about a dedicated service team of trading specialists . Did you say yes . Good, then its time for power e trade. The platform, price and service that gives you the edge you need. Looks like we have a couple seconds left. Lets do some card twirling twirling cards e trade. The original place to invest online. Today, the new new york is sparking innovation. You see it in the Southern Tier with companies that are developing powerful batteries that make everything from cell phones to rail cars more efficient. Which helps improve every aspect of advanced rail technology. All with support from a highlyeducated workforce and vocational job training. Across new york state, were building the new new york. To grow your business with us in new york state, visit esd. Ny. Gov. Welcome back to Worldwide Exchange. Im dominic chu, lets get you up to speed on the Market Action the u. S. Equities futures picture looks good the s p 500 is estimated to open up by 20 points the dow jones up by 275 points the nasdaq up by 57 points another seemingly positive day for stocks well see if that holds. Oil prices, lets check those out. They have been under some pressure as of late. Then we have seen a rebound. Wti crude pushing 61 bucks a barrel thats up 36 cents or about a half percent to the upside ice brent crude futures, 64. 47. A tencent rise, 0. 2 to the upside crude oil prices up generally so far in early trading Warren Buffetts longtime Business PartnerCharlie Munger says it is time for regulators to ease up on wells fargo. He says the bank will end up better off as it corrects a series of mistakes in treating customers. Speaking yesterday at the Daily Journal newspaper meeting, munger also blasted bitcoin calling it a noxious poison. I detested it the moment it was raised the more popular it got the more i hated it on the other hand i expect the world to do insane things from time to time everybody wants easy money of course the people who are peddling things, taking money off the top for promoting the investment, they like it, too. These crazes keep coming and coming but who would want their children to grow up buying things like bitcoin . I guess we can add Charlie Munger to a growing list of individuals on wall street in finance that are again not really supportive of the cryptocurrency nonetheless, bitcoin down on the year, but it is higher by 20 over the past one week we are seeing this rebound in tandem with equity markets the biggest investors on wall street are revealing some sizable new buys in the Fourth Quarter. Lets get out to leslie picker with the details its something we like to call whale watching it is that time of year when we know just what theyre buying. Exactly the whales were making some moves in the Fourth Quarter, one of the most watched investment firms, Berkshire Hathaway disclosing a new stake in teva the pharmaceutical giant struggled in recent years with declining sales in its generics business, Berkshire Hathaway acquiring almost 19 million shares worth about 3 360 million at the end of the quarter. That stock jumped in afterhours trading yesterday. Green light capitals David Einhorn piling in with new holdings including brighthouse financial. The bet there 6 600 million at yearend and coincided with new picks in the retail space including kohls, lowes, michael kors, nordstrom. Third point making some sizable moves with a 4 400 million stake in intercontinental exchange, the Parent Company of the nyse i should also note that these investments are from the end of december and may have changed since then interesting to see some of those stocks moving on these disclosures, specifically Teva Pharmaceuticals up 7 . This is an israeli biotech firm. If you look through buffetts and Berkshire Hathaways filings, healthcare is not a common sengter that you tend to see in their portfolio they hold a bit of johnson johnson, pared back their stake in sanofi, it doesnt represent a huge proportion of their portfolio. Well see what they do over time thank you very much well, lets talk right now about whats happening overall with wall street were pointing to another higher open as the s p looks for its fifth straight day of gains. They made up some serious ground after that selloff two weeks ago. Lets look at where the action has been where have people been buying the dip and weve had Movement Towards record highs we decided to look at the s p 500 companies out there. The s p 500 has had so far about 89 companies that are now, after the rally of the past few days, now just within 5 of their 52week highs or better. Among those, 79 of those stocks hit 52week highs just so far in 2018 not a lot of them, eight of them this week have set new 52week highs. Lets look at some of the big name stocks within striking distance of those highs weve seen recently. Vf corporation, just about at its 52week highs. Estee lauder within about a quarter of a percent of its 52week high northrop grumman, this is interesting, defense contractors like them and others have now regained a lot of the ground they lost. Many of those stocks are part of the trump trade. They seem to be recovering back to their highs Cognizant Technology solutions within a half percent and tapestry, just about 1 away from its highs as well coach, you may remember that name as well some of these companies have seemingly recovered a lot of ground from the recent market selloff. Still ahead, the top stories and a round up of the global Market Action and the big changes coming to the mcdonalds happy meal menu that might leave some customers not so happy. First, as we head to break, heres the National Weather forecast from bill karins. Good thursday morning to you. Very warm and dreary forecast in areas of the middle of the country. Heavy rain event taking place in the ohio valley. Its extremely warm. Feels like a march or april forecast we have a flood watch in effect for ohio, west virginia, pittsburgh snow melt along with the rainfall, rivers are running high well get another inch or two of rain out of this 80 possible today in Oklahoma City 70 in d. C. 61 in new york wich winter is returning to the northern plains. Montana has a chance of snow rain storms will be coming through the middle of the country down through the Tennessee Valley on saturday the Northern Edge could be cold enough for snow around chicago and the southern great lakes the possibility of significant snow in southern portions of new england. Not a lot of model agreement with this. The american model does not have a big snowstorm like the european model does, its something we need to bear watching and keep it in mind if you live in the northeast especiallyatda sury night. Thats your Business Travel forecast, more Worldwide Exchange when we come back. Everyone has a thing. 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As parkland, florida wakes up today, this is a changed city. Its been thrust into the National Consciousness like so many other American Cities over the last couple o