We had the cognizant ceo on, hes one of the youngest ceos, 38 or 39 years old. This is one of the deals that i didnt realize cog anizant is a big as they are. They were there before but this changes the game because the systems that this company is buying puts together, we may use it, actually, its back technology between the payer and provider. So thats what the deal is. A nice little merger monday. Joe is looking at me like this is okay. Good job. Not interesting. This is what you want. You tell him you want breaking news. You want news at 6 01 in the morning. You want news. Okay. I dont recall trizetto being acquired. I have never heard of them before. Im sure you hadnt yet until you got this. I dont even know if i know apex well. You know apex. In the u. K. , thats where we were based originally. This company is based in colorado. And what in health care would or did they actually they actually do the Technology Service behind sort of the computers where you have the provider and then you have the us, we pay, and you put them together. But we dont recognize that. Or you dont think that you see it. My only all i can do to add some value here is that we have some illness in our family. You are definitely stuffed up. No, i dont have anything yet, i hope, but we we want and actually combined both kids. But a Nurse Practitioner handled the whole thing. I have been to a Nurse Practitioner several times in our practice. She mentioned that she was very excited, and there was a Nurse Practitioner that was also being trained. And they were both excited to be there, unlike some of the doctors that have seen the 50th case that week of the same virus. They like that. This person was into it. She was explaining stuff. They can give you shots and all kinds of stuff. Giving us lectures on the immune system. How fever is good. It was interesting. So she took her time with you guys . She was into it. Because doctors are kind of like, oh, another cold. You know, i need something interesting. Where is my ebola . I want to help you a second, 30,000 employees. So no one can make money on the stock. Its a privately held company that good job with bringing the breaking news. Investors are looking for any clear hints on when the fomc will begin to raise rates. Stocks are coming off the first big loss this month. They are below the intraday highs. Volatility is creeping back below 10 . A little bit of volatility back at 13 . Creeping is the word. We didnt really get the kind of upside momentum this is the first down we have seen in five weeks. The dollar has had its biggest run in years. Because of what the European Central bank that explains oil, gold, and other things. And eventually it might become sort of a headwind for everything. It does make noise. Its more attractive to foreigners. The dollar thats another reason the yields are going up. 1. 29 now on the euro. And gold, if you didnt i just remember that year when they asked us is it going to 2,000 . It had develop from 300 to 1900. And then empathies its going to 3800, but it didnt. Its back. Well, it is 2,000 for 2 ounces. I think im going to buy this. Really . We keep getting solar flares. This was just northern lights. It was not aimed directly at us, i guess. Thats good. Rutgers did you watch the jets . Yes, i saw them fall apart in tend. It was such a great touchdown in tend. Gino is good. But i also want to give props to rutgers leading 100 at halftime against penn state. A big game for us. They did look really good and played really hard. Im glad youre able to find some silver lining. The bengals played well. Im not ready to give them the super bowl ring. Im not sure what happened to San Francisco. Beautiful stadium. And i saw on the big network you didnt notice that when he made appearances with us . Im not impressed with people until they appear on the network. They look better and sound better. Like if you did that cognizant story on like a network, then i would be really yeah. That would be really interesting. Are you going to do it again at 7 00 and 8 00. Hopefully it gets announced. Try to get something a little bit more andrew, i appreciate oh, it was just announced. It was just announced. We were six minutes early. 26 billion, thats big. The young ceo. Yeah. Let me tell you about the other Corporate News happening. Alibaba is set to go public this week. The chinese ecommerce giant is planning to increase the size of its offering because early investor demand has been strong. That ipo is expected to price after the close on thursday and begin trading on the nyse friday. And a fight is brewing in the beer world. Heineken confirms it have approached by snb miller about a takeover. They intend to keep the company. Theres talk of a move on snb miller but its not happening so far. This has to be a friendly deal. Anything over 2 and its not happening. Right. If they say sorry they are above 50 . What else can they buy . I dont know my beer friends to know what else is out there . Theres been a lot of consolidation. More than snb miller owns. Thats budweiser now, right . Yes. Yes. Budweiser is still inbev. But coors is available. Are you still at the bank of montreal. Ive been there a while and am not going anywhere. Whats the news . Its still there. Okay. Thats news. Well get to brian in a moment, but meantime, well tell you about young brands looking to expand beyond pizza, tacos and fried chicken. The fast food giant is opening the first bond shop dallas with casual restaurant. Customers point to the thing they want. It is responding to my lep y they are partnering with the Third LargestTelecom Operator expanding to germany, austria, switzerland, belgium and l lexumborg. They dont have multiple tier pricing. In france, you mean . Or everywhere. Everywhere, i dont know about that, actually. Theres a battle in the war between amazon and hachette. The writers are appealing to the board of directors today. The group called authors united posting a letter on its website saying in part, efforts to impede or block the sale have a long and ugly history do. You personally want to be associated with this . Authors have until wednesday to sign the letter before its sent to amazons board of directors. Would you sign that . You did see that someone, maybe you can actually get behind the u. K. Going on iowa thinking about a run. We know shes there. This guy Bernie Sanders is headed to iowa. He thinks theres a ground swell in the country. Things like hes thinking about i know bernie. Im thinking maybe. You would think i have a better chance. Honestly, i do. I think bernie has been tweeting my claims recently. So this is someone you can get behind. Bernie are there any other bernies i can throw in here. Bernie cavro. He became a red sox, didnt he . I think so. Now i remember weekend at bernies. That guy has a better chance to retweet your columns. I just saw this a few weeks ago. You must be so proud that the left wing socialist in the country retweets your columns to say this guy is a little bit more liberal than i am. It takes all times. Lets get more for investors looking ahead to the twoday trade. Paul donovan, the global economist at ubs. Great to see you. Thank you for coming in. We talked in the makeup room beforehand and one thing you noted is that investors you talk to at point are concerned about missing the upside than waiting for a downside. We are. We had an interesting market where the markets did not follow the quote unquote social market. And now for all intensive purposes, we have not had a conversation over the last three to four months where investors are looking for more than a 10 correction. They talk about it but whether or not they are positioned accordingly, we dont think so. Judging by our conversations with clients around the world, most people are fully invested. They are more worried about missing more upside that downside and that typically is a bit of a frothy level. Just because everyone is convinced the ball is not going to come, thats when it generally does. Basically. We talk about that a lot, but whether or not people are positioned accordingly. But the surveys are telling people we are still kind of bullish. And sit down to answer their questions and do the research for them, it is desperate not to lose money. If i look at the private base, private capitalization is always a big deal. But Institutional Investors are becoming more like they are looking for the next big thing. They are propping up on the radar screen to look into the future for the next big thing. So we are constantly getting little surprises popping up and all of a sudden the markets are moving 3 . Down a half point, that seems to be something we are getting quite a little bit with. What does that tell you, that people are nervous and theres not going to be a way to get around, what dhauz mean . We have moved into a lower nominal return environment. After 30 years or more of high mom mall returns. Not necessarily real returns but five years ago if you guaranteed a 5 return, that was easy to achieve with a minimal risk portfolio. Try to look at your average return on a portfolio to be around 4 . If you lose 10 of your portfolio, it is years to make that back. That didnt used to be the case. Thats really a problem, i think. Well this longterm problem, can you get away with that . The rates are going to be different Going Forward, we believe. However, the story with respect to real rates rise and the economy continuing to improve. Over the last five to six years, the investors are key on the dollar. As the economy improves and the stock market improves as well, we think the effect for 2015 2016 is what we call recorrelation. Recorrelation of stocks, earnings, the economy, Interest Rates and the dollar together. All possibly coordinated. Something investors dont understand and were really kind of playing alltime hockey going back to the 80s and 90s where that was the effect then and thats the true fundamental effect on stocks for the next few years. But 2015 will be the transition year as we start to see rates slowly go up and the economy slowly improving. Investors have to address according accordingly. You are just back from europe and the tone there is different than you have seen the last five years. We were talking about france in a prior comment. We were just in paris a couple weeks ago and since the Portfolio Managers that at least one if not two declines actually said it is to europes benefit into the worlds benefit to have a Strong America. And we are not seeing a Strong America right now, which was shocking to me, especially coming from paris. Now, it came during a week when their own president was having problems with respect to press in the like and the people are not happy with their day, but it is relative. One person actually said well take the tone back. Thats different than the last several years. When you look at whats happening geopolitically. What does that mean for u. S. Stocks . The one thing note getting enough attention, whats happened in europe is it is quite part being in nato. And the only person they speak to in is a single trade deal. If this is passed, it will make the World Trade Organization relevant and give the u. S. Support of the global trade agenda for 50 years. Its a very antichina piece of legislation. Its powerful and is long complicated. Nobody can be bothered through the 5,000 pages of rep lick case. And what is happening now is i should have prepped the two sides together more and its fostering that. This will be a really, really big deal. Paul, ryan, thank you both for coming in today. Coming up thats why they made a movie or ten movies, cutting a tree. I guess it bounced back. Oh, thats in the next half hour. Good, good. Oh. Anyway, i can still play tennis, which is good. Because i dated chrissy a while. Coming up, big news for alibaba. The china ecommerce show is coming up. And you missed the bears to come back to beat the 49ers. Nobody predicted that. You woke up to a much different ending with the bears scoring three touchdowns in the fourth quarter. The weekend in the nfl and the sports world, coming up on squawk box. E financial noise financial noise financial noise financial noise welcome back to squawk box. Alibaba is on its way to become the biggest offering in history. Susan li is here to discuss this morning. Good morning. Good morning. This is a water away from their main market in china. And 500plus investors clambering into the Ritzcarlton Hotel for the main event, five minutes of closing remarks. And he was speaking to an investor community, also a broken community that feels sour this ipo didnt land here in the Hong Kong Market because they felt that they deserved it. They know the market better and they listed their b2b sites. Because of restrictions it didnt land in hong kong, so jack had to turn on the charm saying they still love hong kong and will continue to invest in the city, but he also addressed his ipo going to new york instead as a redefinition of the company. Take a listen. Not a company from china. We are an Internet Company that happen to be in china. And part of his address, jack moss said, take a look at what we are doing in russia and brazil. We are the number one Ecommerce Company in the markets even though we dont have a physical presence. Thats only the beginning. We met oneonone with investors in the city and ive been told hes been meeting with several wealth funds and will be meeting with several wealth funds heading to singapore tonight. From what i understand, they are already on their flights. Susan, before you go, what is the expectation in terms of percentage of allocation of stock for those in china, for example, compared to u. S. Investors compared to even european or russian investors. Yeah, thats a very good question. And i was talking to investors at the road show because as i mentioned, they have a sour taste in their mouths because if it was a hong kong ipo, they would have gotten the bulk of the allocation. But now it is a new york run operation, they are not expecting a lot of the shares to come here to the asia pacific. In fact, i know that a lot of the investors have put in monstrous orders of a billion plus and will be happy to get 1 of the orders they put in with the underwriting banks. Susan li, thank you so much. When we return this morning, a definite maybe. Hillary clinton spending the weekend in iowa making speeches to rally democrats. But stopping short of throwing her head in the ring. We have that discussion next. And as we head to a break right now, a look at last weeks winners and losers in the stock market. Opportunities arent always obvious. Sometimes they just drop in. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Welcome back. Good morning. Its squawk box on cnbc. Im joe kernan along with becky quick and andrew ross sorkin. If youre asking a cup of coffee this morning, chances are youre not alone. A new survey finds that journalists drink more coffee than any other group of profession. Im doing it right now. The majority of those polled, 70 admit their working act would be affected without a daily dose of caffeine. And i do this on the way in and then i dont bother with it after that. I wait until 7 00. I cant imagine drinking it in the afternoon. I see people at night drinking. Maybe its decaf. I dont believe its decaf. I dont understand drinking it at night. How do they go to sleep . If i have it after 3 00, im done. Bill ackman is headed to europe. Hes announcing plans for an Amsterdam Fund ipo. He hopes to raise 5 billion from a nonu. S. Institution of investors. And u. S. Investors are turning Bank Employees into informants. The wall street journal says officials are gathering evidence against the bankers colleagues in the probe of possible manipulation of currency markets. The paper says the doj and fbi are preparing to seek criminal charges against individual traders as early as next month. That means they are seeing rats in there, in those banks. Nobody likes a rat. Nobody likes a rat. Jack lew has a warning for china. The journal reports the secretary runs the recent run of antitrust investigations could have serious implications for u. S. china relations. Also, last week was the first week in six weeks that the s p and the dow ended lower for the week. Those markets actually closing at the lowest levels they have seen in a month. The futures are slightly lower with the dow opening lower by 11 points. In early trading, for the most part, modest declines. In spain, the ibex is down. 25 . The dax is down by just over 1 . The nikkei ended up by. 25 . Oil prices we have been watching so closely as wti continues to slide. And brent is down this morning as well. Wti down 75 cents to 91. 52. Questions on what opec will do if we fall below 90 a barrel. And look at the tenyear, we are yielding above or just at 2. 6 . The first time we have seen the yield on the tenyear in quite a while. The dollar continues to be strong against the euro. Youll look this morning at trading the euro at. And gold prices are sitting at 1200. Lets talk politics. Hillary clinton and bill clinton taking a trip to iowa. The former first lady making a speech to rally democrats in a Gubernatorial Race for tom harkin. Is this the first step in running for 2016 . John harwood is here, the answer, sir. Ill answer your question as soon as i have a bit more coffee. Cant work without it, john. Exactly. Yeah, look, every sign indicates that she is running. Like a lot of politicians, they prepare for races and they get very forward leading about it. Theres an offramp there if they decide for personal reasons or political reasons they are not going to run. But i think everyone should assume shes running. She had a good time yesterday in iowa teasing everybody and raising her eyebrows and making little jokes and drawing big applause. But its a different story when it gets to winning votes on the ground because she had a similar reception two years before the 2008 caucuses and ending up coming in third. Do you think shell get pushed aside by Bernie Sanders . No, i think hell put both hands on her back and try to push, but i dont think shes moving for him. I dont think shell move for martin omal