Announcing that russia and ukraine agreed to a ceasefire starting on sunday. Leaders agreeing to with draw heavy weapons from the Eastern Ukraine region. Thats the area between ukrainian and prorussian separatists. The rouble was moving higher and that would be understandable. Higher than more than. 5 . At the bottom we show you the dollar so it had been steadily weakening against the dollar over the last year but strengthening at this point. Lets show you the russian index. This is the rts. Its higher by more than 4 and the major european stock markets right now, across the board they should be higher. Germany is higher by more than 1. 5 . Right now the dow would open higher by more than 12 and nasdaq by more than 30. Much more on this developing story and Market Reaction coming up in just a few minutes. For a few other big stories were watching at this hour, greece unable to finalize a deal within the European Union but the greek finance minister says talks to overhaul the countries current Bailout Program were very good. There will be another meeting on monday. More on that in just a few minutes from now. The house passing the keystone xl pipeline bill 270 to 152. It now heads to president obamas desk where he is expected to veto it. The government rolling out two key piece of data points this morning. Retail sales for january, economists are expecting a decline of half a percent and thursday weekly jobless claims is expected to remain under 300,000. Rate cutting fever reached sweden. Check this out overnight. The countrys central bank launching an unexpected Quantitative Easing Program. Cutting its main Interest Rate into negative territory. That sent the swedish currency to a six year low against the dollar and sent the main equity index to a record high. Just the latest in a string of Central Banks easing and surprising and qeasing. I like that. Theyre fighting the weakness theyre seeing in the economy and shocking the currency market. No wonder were seeing volatility at the highest in two decades. Topping stocks to watch today, the electric car maker reporting Fourth Quarter earnings and revenue that fell well below expectations. Abadjusted loss of 1. 1 million. Delivering just over 9800 vehicles. Thats short of the target of 13,000 model s sedans. The outlook is more optimistic as it delivers about 55,000 model s and x vehicles representing a 70 increase over the prior year. Shares fell sharply on the news and later today well talk to a tesla shareholder still optimistic about the companys future. Cisco beating estimates on the top and bottom line. 53 cents a share on revenues of 11. 94 billion. Giving a better than expected out look and the stock is trading higher on that news. Well break it down in a few minutes. But lets check out shares of whole foods today. The grocery chain with profits of 46 cents a share on revenue. That beat analyst expectations. Sales were pretty much in line 4. 5 . Higher than the estimates out there after the bell. Also Network Security provider fireeye spiking. Beating estimates. A loss of 38 cents a share compared to estimates of 49 cents but revenue coming in at 143 million versus the estimate of 141 million. Theyre picking up a lot of business lately. We are on market cap alert for apple and its last check it is still more than the powerball now topping 795 billion. That would make the Company Worth 1. 3 trillion. They are on their way. Apple shares up this morning. Its a gain of almost 1. 5 . They have a little way to go. Not that long ago he came out and said the stock was worth 206 a share. Now they increase their own earnings estimates. Based on the iphones sales of it. That gets them to the inflated price target. The last one was i think in october. Which was higher than all of wall street. Yeah. By a lot. Yeah. And i think of the south korean gdp. Wait. The greek drama taking another turn after six hours of negotiations. The finance ministers failed to put out a statement which is rare. Greeces finance minister agreed to a statement where greece fully acknowledged its obligations to lenders and committed to reforms and a frame work under which they could ask for an extension to their Bailout Program with room for some of the policies unacceptable. Then the minister walked away at the last second. Statement was nixed by athens. The process resumes on monday. The Financial Times has gotten a leak of the statement which was read to me in part over the phone last night and they made a lot more progress than anybody thought and then a lot of the ministers had left the building thinking they had at least come to an agreement on the statement. Because he called back he went back to athens and there was something in there that didnt sit well with them in terms of how it was going to play with their constituents. I was sitting with a big investor yesterday and i get the headline that theyre close to a deal and im like check this out and half hour later im like check this out. No deal. You shake your head. Youre not sure which side to bet on. Its called burn by brussels because every time you go through these, its the third greek debt negotiation and you have so many people in this room. The late night meetings are back but whats not back is the volatility and market pressure that we saw where they actually had to come out in the morning and deliver it. I wonder if we get closer to this february 28th deadline or monday deadline if the markets start to freak out. Thats the key question and how the markets react is one side leverage verses the other side. Absolutely. Lets show you the markets this morning. The futures higher across the board based on this announcement out of russia that theres a deal on Eastern Ukraine. The dow would open higher by 96 points. Europe is higher across the board. And were showing you greece. Germany is higher than 1. 5 . Well sew you what happened overnight. Its higher across the board. The price of oil which held so much fast nation higher by 1. 5 . Wti retaking 50 this morning. Whats the ten year yield doing in this . This risk off environment or risk on . Higher 2. 04 . So back above 2 and the price of gold this morning, is higher by 3. 70. Greece, sweden russia all big developments for the markets to chew on this morning. Lets get insight on how to trade through all of the uncertainty. Joining us on currencies this morning is bk Asset Management and cnbc contributor. Im looking at the dow for the last three months. Nothing but grinding. When we finally break out is it going to be to the upside or down side . Good morning to you. The dow definitely breaks out to the upside. Weve had three month consolidation. Its digested an awful lot of geo political news and i think the time is now. We see all time highs this month it gives us a slingshot and this is all lead by qeasy. I coined that. You coined a new word. By accident. You coined the new term. Every Major Central Bank except us is really on that stimulus. The pedal is down. Theyre not going to let up. So were in the opposite spot. Were going to reap their rewards but were going to go higher first half of the year. This is all in your world. I was so happy to see him this morning. I said at the end of last year 2015 would be the year of volatility. Ive had enough excitement here to last me a decade. Its been insane and hes the most interesting man in fx right now. Hes the least boring finance minister ive ever dealt with. I saw him gush about him. A lot of people think they look alike. The question is for the United States. Can we afford to deal with the stronger dollar . Can janet yellen and Federal Reserve sit out whats going on around the world. Sweden this morning. Even euro continues to weaken on all of these discussions. Its a great question because the conventional response is were only 14 . Exports. It doesnt matter where closed economy, it doesnt really hurt us but if you look at it from a greater perspective, the strong dollar definitely does hurt them and i think the fed is mindful of not stepping too soon on the stop break to push it around. The thing is that the u. S. Economy seems to be really pulling away from the rest of the world. Its unambiguously good and it seems reasonable that if not june definitely september if everything goes as planned. Theyll maybe do 25 basis points and halt. See what happens . See what happens. More symbolic. I have been arguing all of this is symbolic. Inflation is low but the fed wants to move off this path. They want to go back to normalization and you see the same thing with bank of england. They also want to move toward the last policy. All central bankers want to get away from this zero Interest Rate policy eventually. Some are getting druk on it. They are because they have to. In principle theyll love for the world to go back to normal. Do you think theyre going to raise . A couple of things. They say one thing and do another. They want to go back to normalization normalization. I think they fear it significantly. Especially our fed which after 2014 is now very very dovish. We lost fisher to voting. I was surprised. I looked at the notes here youre one of the few people i have seen in a long time you are bullish longterm treasuries. You would buy longterm treasuries here . I would. Weve been longterm treasury since late 2013. Its been a great trade. Sure has. Its not because i think the u. S. Is spiraling into deflation but its because i think because of whats going on around the world people will end up flowing into the United States. The biggest boost as mentioned earlier is going to be the strong dollar and eventually similar to what happened in 86 and 1987 where the dollar was so strong you have a mass capital flow into our country. First comes in at dollars and then treasuries and then blue chip stocks. So i think there is a whole big cycle happening. Tell me this. Well bring up the ten year yield again and look at the move. Its pretty strong. Is that kicking you in the stomach over the last week or so . Theres absolutely been some pain our arrange in the ten year is 150. 1. 5 on the down side and roughly 230 on the down side. Were a little higher mt. Middle. I think right now they have to step upright now. I dont mean like in a month. Im talking about right now in the next five trading day or the intermediate picture goes from bullish to neutral but im still in the trade and its got some legs to it. Im going to disagree and im going to say unless we see really serious contraction in the u. S. Economy the lows on the yields may have been set. How high do they go . He says 230 max. 250. Its raging. Its raining money. What was the bottom . The last jobs report . Yeah where we were in the 170s i think we have seen the bottom. Maybe we have seen the low in yeels but i dont think were going to go higher any time soon. We could go into this nice long trading range which the markets would absolutely love. I wouldnt disagree with that. Yeah. Gentlemen good to have you on this morning. Great to be with you guys. Thank you. Sad news to tell you about this morning, long time news man and 60 he was killed in a car accident last night in new york city. He won more than 40 major awards including 27 emmys. He covered almost every major conflict around the globe from vietnam to the middle east. He was 73 years old and he will be missed. He certainly will. I was such a huge fan of bob simons work. That guy, incredible writer and amazing story teller and one of the reasons you tuned into 60 minutes simply to see what he had that night. A huge lover of the arts. You could see him frequently at Lincoln Center going to the opera, et cetera. He was captured in iraq by iraqi forces and been to all sorts of war zones and around the country and its a very sad way to end, you know . On the west side highway in new york city. Terrible. Okay. Coming up, cisco beats the street. The stock is moving higher. Should investors jump on the tech giant right now . Carl icahn is never one to hold back. Now he says apple should be worth than a trillion dollars. Is the investor right . And house of cards fans almost got a very surprise from netflix. Those stories when walk returns. But first this day in history. Say youre a finance guy. A farmer. A researcher. You used to depend on experience. The internet. Your gut. Today you can use ibm watson analytics. It can make sense of all kinds of data. Uncover hidden correlations and new opportunities. And give recommendations with more confidence on who will buy. What to make. Where to plant. Which helps you make smarter decisions. Theres a new way to work and its made with ibm. Some house of cards fans got a sneak peek. It debuted three weeks before its actual debut. Well have to see if Frank Underwood had a hand in all of this. Im a big fan but i missed the glitch. The show will be back on february 27th. It was all over twitter. Was it . I havent started watching it yet. I cant wait though. Orange is the new black, my new favorite. The nations busiest ports taking a break. The ports of los angeles and long beach will partially shutdown for four days as the on going labor dispute intensifies. Shipping companies are going to slash dock work so it will cease thursday through monday. Cisco ceo speaking to jim cramer on mad money last night. Listen to his take on the environment in europe. You will see countries in europe move faster than the u. S. In terms of digitizing their whole economy. Digitizing their business. Changing their gdp growth job creation, health care and education. Were right in the sweet spot of all of those. Here to break down the results is stewart jeffrey. Stewart, welcome. Whats your read on the quarter . Chambers is always optimistic. So lets get your view. The quarter was a little bit better than expectations but theyre always good at managing expectations so we dont get too far ahead of ourselves. For the next quarter estimates arent going up very much but we had a bad last year. Theyre back into growth territory. Margins are doing well. Earnings growth is coming through and hes trying to change the conversation toward the areas he thinks hell excel in. I read something this morning that said the trends are improving but lets not get crazy. Right . Is that fair . Things are improving the rebound continues. The upgrade cycle and switching is helping them. What inning do you think were at on that . They had an awful year last year. They lost like a billion dollars in revenues from one quarter to the next and this right now is the come back period so they got very easy comparisons to build on but again the argument theyre trying to pitch is that disruption was caused by themselves changing for the new technology set up and theyre preparing themselves for growth Going Forward and if you believe that then you can argue maybe there is some reasonable growth in cisco over the next few years. Any clarity as to whether they continue to suffer this issue about china and their products being purchased for fear theyre helping the infiltration of the u. S. Government. They have acknowledged theres not much they can do in that situation. I assume they go eventually close to zero but its less than 4 of total revenue. Its not that meaningful at the end of the day. Thats an incredible statement in a country growing so fast but for you to say you think they go to zero thats dramatic in a world where people expect growth. One of the unique things in particular i dont want to say the chinese cisco plus chinese producers. Its even a bit of qualcomm. On the flip side of that double digit growth in Southern Europe where so many other countries are suffering. What is cisco doing right there . Maybe atsen easy comparison but if youre going to make the move toward cost savings, it is an important way to generate labor cost savings and you ideally would be trying to find ways of mitigating that. Let me ask you a quick question before we move to apple. Do you have a buy on the stock because the comps are so easy or because the fundamental story is getting better. The last six months the stock traded on multiples and the comps are easier. What happens next is things like internet of things havent really shown up from a financial perspective. Sis coe in prime position for that. If it comes through we could start seeing financials bear fruit in the last 12 months. Weve seen a huge increase in complexity in this industry and sis coe is offering to do Hardware Software services and bring it end to end and for Many Companies someone can take some of the risk and complexity away from you its hugely appealing. Better gross margin business than in the past and they can start taking wallet share from some of the key rivals. Well stock is up 6 . You also cover apple of course. Lets dig into carls assertion that apple should be trading at 216 today. What do you make of their own increase in where the stock should be trading right now. Turn the dial to 11 on many of his assumptions so he is assuming theres a tv product coming out next year that does more revenues than the ipad in 2017. That the watch does more revenues than the ipad in 2017. That average selling prices stay at these current levels and youd argue that the next q 1 numbers for the iphone were high. If youre going to see growth longterm typically theyll trade price for volume. Is he wrong . Is that what youre saying . They long maintained that apple is the mercedes of Tech Products that they have been able to maintain that prestige value and plus their average selling prices dont go down. As the ipad has lost a little bit of its luster there theres been other things to pick up the slack. Is he overtoing it or not . One of the statements is uncontestable and i havent done it as long as icahn has been ive been through the 90s and we made assertions in those days and competitive advantage doesnt last forever and hes perhaps asserting that it does. But does apple become the First Trillion Dollar Company in america or the world . It would be like four times or five times sales would be extraordinary. I dont think so but apple has made the impossible happen before. You have the skepticism now that its so large that will hold it back in terms of evaluation. Is that justified . Q4 was such an exceptional quarter it will take time to digest that. Everyone bought one there a