Happening. Stocks are moving higher at this hour. It feels like investors are shaking off fears about the debt standoff between europe and greece, but folks, the action is really in oil. Prices plunging again after the International Energy agency warned of more selloffs in the near term. We begin with fears in the bond market. Were talking about, yep, puerto rico, and its debt crisis sending its bonds to record lows. Why does it matter to investors here . Many hedge funds and big Bond Investors have exposure to puerto rico. Kate kelly has more on the fallout. Big legal news the last few days on puerto rico which has been struggling with over 70 billion in debt as well as highend employment and other Economic Issues for some time now. On friday a federal judge blocked the islands efforts to restructure certain debt through a new law known as the recovery act that was passed last summer. The law was intended to help agencies like for example, the purity wroe ricco electric Power Authority or pr epa to make hangs to its credit obligations without necessarily getting the agreement of all of its bond holders. Judge fran seveningo argued that the law wasnt sound. They said yesterday it would appeal to his decision without giving much additional detail on when, but one question that is now foremost is whether puerto rico will now be forced into chapter nine or municipal u. S. Bankruptcy, which could throw the troubled economy there into even further disarray. Puerto rico of late has been a focal point for a number of marriage investors, including the Hedge Fund Manager john paulson, a bull on puerto rico who has put a lot of money into the commercial real estate sector and has also called the island the singapore of the carribean. Meanwhile, a group of some 30 Ad Hoc Committee members, including, for example, Davidson Kempner and roughly 300 billion in assets altogether. Theyve been arguing that the restructuring of some of the islands debts could be a very good thing. Adding to the mix a group of several Institutional Investors that have challenged this recovery act in court, including Blue Mountain capital and oppenheimer funds, which objected to it on its legal merits. Fridays decision, mandy, is a victory for them but the game is, of course, far from over. Thank you very much kate. Ill pick it up. Our next guest says perceive with caution down in the commonwealth. Bob is cohead of mchey Municipal Managers that oversees munis. One of the sores there in kates report called the puerto rico the singapore of the caribbean. Isnt it more right now the greece of the americas . You know puerto rico has a lot of issues. Weve been telling our clients over the last three years, you have to be very careful. Theres way of investing in there, but you have to be very active and understand the nuances of the credits. You have been in there since, what, 2013ish . Yeah. Or before . Well our team has been managing money in puerto rico market for over 20 years. Have you made money lately . We have. Weve actually made money for the last three years running. If you understand the problems of the economy and whats going with the individual credits, for instance over the last couple of years weve been telling clients, dont invest unenhanced credit. Invest in securities that have an insurance wrapper on them. Take some of your down side risk away from the equation and wait for the uncertainty that is vunding puerto rico that continues today, especially in light of the court case on friday. Until thats gone and, therefore, you have a clear understanding exactly which so the enhanced credits are the ones you want. Were going to take a quick break and get out to Rick Santelli in chicago with breaking news from the bonds and come back to you. 24 billion threeyear notes just hit the street. The fwrad for the auction . Dplus. The yield . 1. 05. The bid side of the one issued market is 1. 06. Lower yield, higher price. Kudos on the pricing of the dutch action. If you look 3. 34. Its better than a 10 auction average. Heres the extremes. 48. 9 on indirects. Its the best since may of 2010. 7. 2 on direct is the weakest since january 2012. Dealers take 43. 9. Bplus. Tomorrow of course tens followed by 30s to round out the week with coupon supply. Tyler, back to you. All right rick. Thank you very much. Back to bob. The question basically is if im a yield hunter here and i like the idea of tax free income spshgs i see that big fat 10 plus yield higher even than greece, should i be tempted, and your answer is . Our answer is be careful. When you are talking about puerto rico, general obligation bond, you are talking about the high yield marketplace and distress type of situation. Puerto rico officials in san juan need some type of restructuring aeblt. The recovery act was thrown out of the court case so now what they need to do is lobby the u. S. Congress to allow puerto ricos municipalities and public corporations to restructure through a bankruptcy type of process. When you are talking about investing in these type of securities without that full snanding of what puerto rico neepdz is you have to be very very careful. Sounz like the answer is probably not for individuals. Go with a guy who is actually following it although time. I would agree with that. Snoo thank you very much. Appreciate it. Now to dominik with market flash fla. Hotels are hot. Theyre being driven by a couple of important catalysts. First of all its wyndham worldwide. Those shares up by 8 . Then theres Starwood Hotels beating earnings estimates, and on top of that announcing it will spin off its time share Vacation Division so it can focus on core Hotel Operations starwood shares up by 7 . The news is helping to put a bid to others in todays trade as well. You look at marriott hyatt, both of them up in todays trade as well. Back to you. Okay. Thank you very much for that. Were starting to moving higher at this hour on hopes of a greek debt deal but will any snags in the negotiations hurt the u. S. Market . Lets bring in jeremy of ubs Wealth Management in americas and jim, chief Investment Officer at pnc asset management. Jim, so much confusion about what is happening with oil. Very wide forecast. So much confusion about what the outcome with greece will be. How do you trade and invest through that . Thanks mandy. Good afternoon. Certainly a number of shifts in the market as we started the year here and you highlight greece. Likely a stress point for some time here. We have tough talk and some firm stands while we try to work out a compromise behind the scenes. Likely they lshg but it will take some time and well probably get to the brink before an agreement is reached there. Essential the plunge in crude oil is a net benefit, but it has added some uncertainty in the markets. Who are the winners and the losers there 1234 in the end its a positive for the u. S. Consumer, and i think a little early here to call the bottom. I think were in a bottoming process for crude oil. There will be opportunities down the road. In the end consumers benefit here and consumer stocks should benefit in this environment. Going back to the european question for a second, because i see a couple of weeks ago you upgraded europe even equities. What scenario for greece are you thinking about when you did that upgrade, and does it even matter to you . Well it certainly matters in the near term, and i think in terms of the performance of european equities the ebb and flow of the negotiations in between greece and the troica will dictate in the very very near term performance. If you look at the back drop for european equities one valuations are quite low. Two, you have a lower oiling price that will help the european economy even more than its going to help the u. S. Economy. Three, finally you get a lower euro, and thats really going to help the earnings power for a lot of the Multinational Companies that are going in europe. A stronger dollar on the flip side of that hurts a lot of multinationalists here in the united states, no . It does. But its pretty interesting if you look at the percentage of the revenues that come from abroad. Its of much higher in the euro zone. Were still bullish on the u. S. As well. U. S. Earnings have been coming through in the Fourth Quarter at a pretty strong rate. Even where the head wind of Energy Sector earnings down over 20 , the strength of the dollar in the Fourth Quarter, the trade weighted dollar up about 10 year on year it looks like s p 500 earnings per share are going to end up being up between 7 and 8 . We think the u. S. Corporate sector is quite resilient, and even though forward estimates are coming down we think that the market will see through some of that noise. Okay. Last question to you, jim, because weve got an interesting scenario happening. We have stocks moving up and oil moving down. Moving down significantly. Remember, they were very closely correlated. A lot of concerns about that crash in oil. Unlikely well have the vshaped recovery in oil, but well fwet back to higher prices but it will take some time. I think the market is learning that that will probably be the case. Were blending in what those impacts of earnings will be and i think well support certainly from the consumer side that well see Lower Energy Prices for some time to come which will continue to benefit not only consumers but industrial stocks in here as well. Thank you very much for joining us. Lets get a news alert right now with sue herrera. Sue. Forbes. Com has been hacked. The security firms say that athe hack is related to china. If you are a user of microsofts flagship internet browser and you visited forbes. Com from the dates of november 28th to december 1st when that site was hacked, you may be at risk. Were waiting for further comment from forbes. Once again, they have not confirmed that it was china, but the two security firms say that they believe that there is a very strong link to forbes. Com being hacked by china. Back to you, ty. Sue, thank you very much. Shares of General Motors reving higher this hour as the automaker. You see right there up about almost 3 at 37. 01. This comes as the automaker and its Ceo Mary Barra are the target of activist investors wlash do they want . Cnbc phil lebeau behind the wheel for us in wisconsin. Phil. Tyler, they want cash because General Motors is sitting on a big pile of it right now. In fact, total liquidity of 37 billion. Thats what is interesting to harry wilson. Who is harry wilson . You might know him if you are familiar with the auto sector because he is one of the president obamas Auto Task Force members, and when he was doing that he was actively involved in the restructuring of General Motors. Well now he is representing four investment groups, and today he announced that he is going to be nominating himself to join the gm board. He is representing four investor groups, including three hedge funds. What do they want . 8 billion to be spent by General Motors buying back stocks. Certainly that would give the stock a boost and has been today. For gm Ceo Mary Barra this represents the latest issue she has to deal with after a year of wrestling with the recall crisis and all of the problems that were involved there. For General Motors liquidity stands like this. Theyve got 25. 2 billion in cash, in securities on hand. Another 12 billion brings total liquidity up to 37. 2 billion. All of that money has activist investors saying you know what we want a little bit of that. Gm Just Announced last week that it plans to increase its dividend by 20 . Up to 36 cents per share. As you take a look of shares of General Motors, keep in mind that the dividend yield is expected to jump up to about 4. 3 if that 20 increase in the dividend goes through. That said tyler, and mandy, thats not enough for harry wilson and some of the other activist investors who are out there now saying youve got 37 billion in cash. Start freeing it up for the investors. Guys back to you. Okay. Phil lebeau a little windy out there too. Ever wonder how the 1 get to the top . Well, robert frank knows. A new study says your earnings will largely be determined in the first ten years of your working life. Were going to tell you the 1 s gets there and how they often fall from the top. Thats coming right up. Welcome back. Shares of that stock is one of the leading gainers in the s p 500 after its Solid Earnings beat the maker of Construction Materials reported earnings per share of 94 cents, 11 cents higher than expected. They also beat on sales as well. The Company Announced a 20 million Share Buyback program, which includes five million previously authorized shares. A big day for Martin Marietta. Well exspokers hoarding nicorettes. The Company Recalled the nicotine tablets last year due to manufacturing issues, but has been silent on when they would make them again. Well cocacola earnings tumbling 55 . Revenues still topping street estimates. They say in north america its biggest market no surprises there. Rising for the first time in four quarters. Apple selling off swiss franc bonds. This is the tech giants second bond sale outside of the united states. The deal raising the eye kweflent of 1. 35 billion yon dollars. Ty. Breaking into the 1 there seems to be a correlation of age and when you can become wealthy. Robert frank here with the details of a new study. Whats it telling us, robert . Well it tells us if you want to become a member of the 1 you better start young. A new study says that your earnings over your lifetime are mainly determined in the first ten years of your working life. Now, most of those who made it if into the 1 got there before it age of 35. As the study says across the board of bulk of Earnings Growth happens during the first decade. Those in the top 5 their income grows 230 . The 1 s see their income grow 1,500 during their working lives. Earnings peak early. Most of us never get raises after the age of 45. Only the top 2 of earners actually see their pay increase after theyre 45 years old. There is one thing about the 1 ers. They do have their problems. They do experience more sudden drops in incomes, called negative earnings shocks. As the study says the higher an individuals current earnings the more room he has to fall and the less room that he has to move up. The good news here tyler, is that one in nine americans will at some point be in the 1 . At least for a year. After age 45 . Most peoples income wont go up . Weve already peaked tyler. As if we didnt know already, right . Oh man. All right, robert. Thank you very much. Manny mandy. Get your freak on guys because the manufacture fifty shades of grey is here to break all kinds of records. How some of the nations biggest retailers are looking to get in on the buzz. Plus, social media career killer. What happened when one new employee blasted her employer before she even started a job . You have got to hear this. T a street. Return on investment isnt the only return im looking forward to. 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 fifty dollars. Daughter do you and mom still have money with that broker . Dad yeah, 20 something years now. Thinking about what you want to do with your money . Daughter looking at options. What do you guys pay in fees . Dad i dont know exactly. Daughter if youre not happy do they have to pay you back . Dad it doesnt really work that way. Daughter you sure . Vo are you asking enough questions about the way your wealth is managed . Wealth management at charles schwab. We are normally talking about kids toys for movie themed toys. For fifty shades of grey its all about toys for adults. A number of the nations biggest retailers are getting in on the action. Live in los angeles with that story, julia. What kind of toys are we talking about, or should we just not go there . Well mandy, fifty shades of grey is on track to steam up the box office this weekend, and retailers are looking to cash in on products like this blind fold set as well as this massage candle. Now, target is already selling an assortment of fifty shades of grey themed products. From the blind folds to sex toys, target is drawing backlash when one store put fifty shades of grey product display next to childrens toothbrushes. Its owned by nbc universal, and it earns a fee on that merchandise along with author e. L. James. This is the first time that such a racy movie has inspired merchandise with a wide range of products like an official makeup collection from makeup forever. Red sat sxin red and white silk and jewelry, including a 150 necklace made with minihandcuffs. Plus, theres clothing and retailer hot topic and lingerie. Theres even a teddy bear inspired by christian grey. We do expect fifty shades to set records at the box office this weekend. It very quickly became the best selling rrated film. Julia, theres a chain over in london called b q, and its giving its employees copies of the book fifty shades of grey and saying go home read it familiarize yourself with although products just in case people come in with sensitive questions like, ah where do i get the best kind of robe . Where do i get some table ties . Where do i get various other thing like tape . I mean how big is this market . Well that would be an example of some nonlicensed prdz merchandise. A company trying to cash in on the craze without sort of going through the formal license process. I think its too soon to say j