Futures this morning after those gains, youll see there are still green arrows indicating a higher open, as well. Dow futures indicated up by about 44 points. S p futures indicated up by close to 5 points and the nasdaq is up close to 14 points. An rue, ill send it back over to you. Lets talk about the deal of the morning. Facebook is now getting into the wearables market. The social media giant acquired a Company Called oculus vr for about 2 billion. They make Virtual Reality headsets. Their main product called the oculus rift is primarily used for gaming. Mark zuckerberg posting a statement on facebook saying after games, were going to make oculus a platform for many other experiences. Imagine enjoying a courtside seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor or facetoface just by putting on goggles in your home. I know where i know. Youre waiting for the sound effects in the what has driven he ever what drives all of us . Money . Sports . I thought about this. What is going to drive bitcoin . One is sports and one is stock. El yolt spitzer would still be governor if ken langone wasnt standing behind him. If he was using bitcoin, it wouldnt be governor cuomo. It might be president spitzer at this point. Take a look at the shares of facebook. I dont remember we had a different company, also started on kick starter. Avagant was the company they had on. And i dont get it. It made sense to me, but 2 billion price target versus the 19 for whats app and then him talking about how there is a big future for this. I get that. If you can do classroom learning, if you can be at a sports arena. Well, no, but if microsoft had said, you know what . Were not just software. None of these guys seem to ever go into divergent enough to stay current. There has to be more than one or two senses involved with the no, im just saying well, why, what kind of attachment did you think i was just talking about . What just happened if youre looking at a basketball game. If this is a fully five sense experience where basically you wont even you know what . One of these days with social media and with this thing, you can be in your basement 24 hours a day, youll never leave your house. You wont even need to meet anywhere. Craigslist, it will put all that out of business. How are you going to feel if youre wearing electronic sensors on your hand. You broke that thing you wear on your wrist. Does it even work any more . King Digital Entertainment will begin trading this morning. Shares of the Company Behind candy crush what the hell is that, andrew . Candy crush . Yes. Its an Online Gaming company. But what does it do . Its like the jewels or something where you have candy pieces that move down. Why is that its like tetris. Like what . Tetris. You never knew what tetris was . No, i dont know. Ive also read this is very good for children, its matching colors and sitting on a screen all day long, though, how good is that overall for kids . Its for sensory priced at 22. 50 a share. That was the mid point of the expected range. Virtual reality does appeal to me for video games, honestly, it does. And youve been on veeptly down somewhere where you did flying, didnt it . Oh, at disney, yeah. You really feel like youre soaring above the grand canyon. They have sense coming in and yeah. You need attachments. You should somehow have all five senses covered. You know what, though . I have to say, the soaring thing has helped. Did it, really . Yeah. Everybody said it was the coolest ride. I was in the second. You saw the people in front of you. In the front row, it can be you can lose your stomach. I felt like they need a new movie. I felt like it was more than a decade old. I dont know why. Whose park was this . Somebody elses. Oh, not universal because that is so current. Right. Were harry potter. That was my mistake. With your fios and your under the ticker king, you spul king is what its going to trade under. Originally, i happen. 567. 6 million last year on revenue. Candy crush saga was the years top grossing app franchise on apple devices and king digital ceo will be making his first appearance on squawk on the street later this morning, which is i think thats a much bigger thing for him than the ipo, probably. How he did that, apparently worked his way up. Uhoh, hes sharing with his father, rupert murdoch. James murdoch was elevated as a position as a cochief operating officer. My dad didnt start diddley, you know . Here i am. And youve done it on your own. Weeks old. People you know, im really trying to milk this thing, you know . I know, i know. I give you credit for that. Lets talk about a new Senate Report that says Target Corporation missed multiple opportunities to thwart hackers responsible for the Holiday Shopping season data breach. The reports from the commerce, science and Transportation Committee says there was no indication that the retail giant responded to warnings now being installed. The panel is holding a hearing on how to protect information from cyber attack. One of the witnesses will be john mulligan. This probably was prompted by a story that was out a couple of weeks ago. There was an investigative report, and i forget which one of the newspapers did it. Business week. It was an investigative report that took a look at this. They had installed a top of the line security that sent off alarms when somebody was trying to get into the system. I think what probably happened is they didnt realize that it was as massive of a data breach that had been expected. So they didnt respond in time. It was suggested that people knew and they didnt take this up. They knew that there was something going on. I dont think they realized the extent of the breach. But they didnt respond to the alarms that had been put off. And im sure those are the questions that congress will ask today. President obama hes in brussels for a summit with european leaders today. The european leader unions, that is. Russia and ukraine topping the agenda as the tensions in the region remain quite high. Joining us now is more on this, cnbc annette. President obama is set to arrive here in brussels. And they will talk with eu leaders about economic sanctions on russia. Could russian troops, really, ready to move into the ukrainian territory. That would trigger economic sanctions. Obama is here in europe and he wanted to convince europeans that economic sanctions are very sensible move. And it seems as if he actually succeeded in convincing european leaders. They seem to be in favor of sector sanctions. Talking about that, we are, as well, talking about potential gas supply from the United States to europe because currently onethird of gas is coming to russia. That might be in danger of coming down the path of sector sanctions on russia. So european leaders are calling for some restrictions on those laws currently in place in the United States. Allowing gas exports to free trade partners, which, of course, the European Union is not yet. With that, im sending it back over to you. Annette, thank you very much. In the meantime, blackrock has a warning for Big Companies. He says dont emphasis dividends or share buybacks if they come at the expense of future growth. The Money Management giant acknowledged the pressure for near term performance. But he reminded companies that they have to focus on the longer term. He says it concerns us that in the wake of the financial crisis, Many Companies have shied away from investing in the future growth of those companies. Lets take a look right now at whats been happening with the markets. We told you already the futures have been indicated higher this morning after yesterdays gains. You still see the dow futures indicated to open up by about 45 points. S p futures are up by more than 4. 5 points and the nasdaq is up by about 14 points. Taking a look at oil prices, youll see that wti was up about by about 13 cents, closing at 99. 33. The tenyear note after the Consumer Confidence numbers that were better than expected yesterday came in and is now yielding 2. 748 . Plus, if you take a look at lets see, currencies, the doctoral right now is up against the euro, which is trading at 1. 3796. The yen is at 102. 28. And gold prices have just come down just over the last couple of days or so. You can see that i think yesterday we were up about 20 cents. This morning we were up by 3. 90. Sitting right at 1,315. 30 an ounce. Coming up, we have a war of words over bitcoin. This is really Something Else. This time, Marc Andreesen is firing back about his comments about Virtual Currency. Well have it all. You dont want to miss it. Nt w. Good morning. We have a doozy for you this morning. Warren buffett recently promoted the perfect bracket challenge. We had a chance to ask him what he thinks about bitcoin. Well, basically, its a its a method of transmitting money. Our checks are a way of transmitting money, too. Or money orders on. You can transmit money by money orders. People do it. But you can replicate it. A bunch of different ways and it will be and the idea that it has some huge Intrinsic Value is just a joke in my view. For bitcoin investors, thems fighting words. Marc andreesen, addressing a Bitcoin Conference in san francisco, calling out what he says is old white men crapping on new technology they dont understand. By the way, he also tweeted that out to his followers. Again, andreessen has defended bitcoin and talked about how he really thinks this is the internet of the future. Later in the day, he followed up with those comments with multiple tweets. Here it is. Im not sure why it would be news, but war b buffett doesnt. Understand technology. He said to himself for decades. Warren buffett is a world class expert in many areas, and in those areas he has forgotten more than i will never know. Dozens hundred oefs them, but warren has maintained for decades that he knows nothing about technology and does not seek to know anything about technology. When people who dont understand tech attack new tech, its fair game to call them on it. People should know what theyre talking about. When people who dont understand tech attack new tech, it is fair game to call them ow on it. People should know what theyre talking about. I seek to educate. To that end, i would be happy to spend as much time with warren as he wants teaching him all about bitcoin. The Internal Revenue service said yesterday that bitcoin and other Virtual Currencies are to be treated as property and not currently. That means you have to pay a Capital Gains tax if you buy something at lets say 10 and it appreciate toes 600, when you spend that bitcoin, you have to pay the Capital Gains tax on it. If you do that, you have to i thought about whats different with this because i thought the same thing initially, its no different thatten if youre trading currencies. Thats just if youre trading. But if youre taking bitcoin and using it to pay your rent or youre using a bitcoin that has appreciated in value you have to pay a i didnt write off those crapty swiss francs i brought back from davos. The thing that made me happiest about this whole thing was it said in the article that buffett famously said in a tv interview. And i said, wait a minute, is he talking about us . Yeah. So it got everywhere and it got played everywhere. He famously said it on a famous show anchored by famous people called squawk box. I went back and forth with marc last night. A lot of times hes watching the show in the morning because hes on the west coast and he doesnt go to sleep until 4 00 or 5 00 in the morning. So i asked him if he could call in this morning and he dodged me by saying he would be asleep during our show and wouldnt be up. I said if you have a day job arent you getting up by 6 00 because were on is war b taking him up on his invitation, as well, do you know . I dont know. I dont think anything is going to be the next internet ever. I also see what warren is saying is bitcoin could become a commodity. Here is something i do understand. I get it from marc andreess enperspective. This is new innovation. Because youre there first, you can say bitcoin is something that is going to exist. From his perspective, maybe the guy who is a vc capital investor, youre looking to be an early investor. From warrens perspective, hes telling you dont invest in this. We dont know whether its going to stick around or not. Warren does says hes not into technology, but hes brilliant. No one can ever say warren is not brilliant. He can put two and two together and figure out the potential for i would think for if we can get him on the show is whether he believes that its bitcoin itself that has promise orb just new Virtual Currencies. I could see over the next 20 years Virtual Currency including potentially bitcoin being something. Theyve invested 50 million in bitcoins specifically. Whats the cutoff date for old, too . I might be an old white guy. I have more hair than him, ill tell you that much. Take that. How does that feel . He may call in later this week. I asked him about it. What is old . Whats the cutoff . You think of me as old, dont you . I do not. I do not. When you look at me, i think youre saying youre old. Now youre projecting . Maybe. Youre a very young man. I think you are. But i want to know, andreessen is 50, isnt it . No. Hes 42, maybe 43. That shows you how important hair is. Anyway marc is 42 years old, born on july 9th. Oh, boy. Im sorry. Oh, im old. Coming up this summer. He used to have a beautiful head of hair, by the way. He did . Yeah. Absolutely. All right. Handsome young man. Youre so pc. Anyway, when we come back, were going to talk about another rally for the dow. Will the economy continue to impress the markets . Well kick off that discussion in the next hour. No snow for the new york area yet, but other areas of the northeast expecting big snow amounts. Lets get the National Weather forecast now from alex wallace. At least the Major Population Centers dodged it. But you cant see that out along the cape. Getting socked with the snow and the wind. Nantucket, 60mileperhour wind gusts and snow. Thats not a fun situation. But you can see you just head west a little bit. Basically, nothing. This system is just a little farther to the west, it would have been a completely different story. For now, between, as you mentioned, domging the bullet for some of the big population centers. Along the case, warnings in place and into maine, as well. This time, windy, snow adopting those visibilities. Even outside of where we have the snow around boston, 25 to 30mileperhour winds, those will be high throughout the day. But even stronger, chatham, 60 to 70mileperhour winds as we move into the afternoon as well as evening. So a lot of wind issues. We will start to see that coming down a bit as we work our way on into tomorrow afternoon. Still, there are 30 to 35mileperhour winds. The storm systems well up into the canadian maritime. A lot of the big cities along 95, you could have been dealing with a lot worse. More squawk box, coming up in a bit. A bit. These days, everything your business does is done on the internet. And tomorrow youll deveno more. Thats what comcast business was built for. Slow dsl from the phone company was built for stuff like this. Sign up for internet and voice and find out how to get four weeks of tomorrow ready internet for free. And youll be ready for tomorrow too. Comcast business. Built for business. [ male announcer ] when fixed income experts. Work with equity experts. Who work with regional experts. Who work with Portfolio Management experts, thats when expertise happens. Mfs. Because there is no expertise without collaboration. Good morning. Good morning. Welcome back to squawk box here on cnbc. You interrupted it happens a lot, you know . All of a sudden its like there you are. All right. Im joe kernen along with becky quick and andrew ross sorkin. Andrew ross sorkin, the headlines this morning and you said joe kernen and becky quick, by the way. Youre not in the post today, in that skz with all the fashionable i was sure you were going to find a way to get yourself in there with all these fashionable but you didnt. Anyway goodness. The malaysian this is still happening. The search for the missing Malaysian Airlines jet continues. I guess the weather has improved in that part of the world. Airline and boeing are facing the potential lawsuit in the case. Chicagobased law firm ribeck law, have you ever heard of that . Has filed a petition for what is known as discovery. The firms trying to determine if theres evidence pointing to possible design and manufacturing defects in the boeing 777 jet. I heard this yesterday. They immediateemailed it to me. Theyre looking for anything and everything. They said its for millions and millions. You jumped down my throat when i implied the gm thing was going to open up a huge market for ambulance chasers. No, i didnt. Yeah, you did and i said wait until that oh, well, i think thats a serious all my point is that means you give these guys a scintilla and this one, the 777 is the safest yeah. And it was ridiculous the cars, the ambulance goes by. Theyre everywhere. How many lawyers do we have per person in this country . Thats not to say the families dont have an absolute valid justified reason for wanting to know what happened. But this was a particularly poorly rush out looking for anybody to be guilty and blame everybody. And in truth, i i do this if your family is harmed, you need a great lawyer, too. Does the Airline Business have a trust or how does it work in these awful instances . I know ive just taken the whole conversation down five levels, but i dont know. Im not sure what has happened. I know that the families have a lot of frustration with Malaysian Airlines and it was the malaysian government. They want to sue the malaysian government for murder or something. It was poorly ha