Well see what happens as we get closer to the opening bell. Three big stories were watching this morning. Eu finance ministers are meeting in brussels in just a couple hours from now discussing greeces request for a six ismonth loan extension. Michelle will join us in a minute. Also in Corporate News this morning, deere will post Quarterly Results before the bell. Earlier this week we learned Berkshire Hathaway bought a stake in the company. In political news the nations current and former governors are going to be gathering in washington today for an annual meeting also taking part in the conversation administrative and legislative officials along with business and academic leaders. Here are some of the stocks were watching. Intuit posted a stronger than expected loss, Strong Demand for its turbo tax. Tax season. Hurry up. The clock is tick inging. Sneaks up on you. Nordstroms earnings falling short of estimates. The company says margins fell as it worked to clear inventories and used deeper discounts to do that. The retailers quarterly same store sales did beat forecast ss and shares of noodles getting slammed. The casual restaurant chain posting disappointing Quarterly Results and warning its fullyear earnings will miss the mark. It was a mixed quarter though, for marvell technology. The other is marvel. Marvell earnings disney. The earnings revenues did beat expectations. The company, though issued weak First Quarter guidance. Lets check on the markets this morning. Joe was talking about whats been happening with the nasdaq. Take a look. Yesterday the nasdaq was higher. You saw the s p and the dow closed down. In fact, though, the s p and the russell 2000 both hit highs. You look this morning there are some modest advances. Looks like the s p futures are up by just over a point. Dow futures up 15 points. The nasdaq higher by another ten points. In europe and some of the early trade youll see at least at this point it looks like, well, things are relatively flat. Ftse is higher by a quarter after percent. The dax is slightly weaker and in greece things have barely budged either, up by half a percent. In asia overnight you saw the nikkei was higher by about 67 points. Australia the market there down by 22 points. If you want to check out oil prices yesterday crude oil fell once again down another 2 . It slashed its losses at the end of the day. Down another 15 cents at 51. 01 for wti. Lets check out the ten year note. Youll see at least at this point it looks like its yielding back above 2 . If you take a look at whats been happening with the currency markets, right now the dollar is higher against the euro. The dollar is down against the yen. Gold prices at least at this point yesterday when we looked at this point were up 17. This morning down by about 3. 70. Still sitting above 1,200 at 1,2 03. 909 an ounce. Back to greece. Michelle Caruso Cabrera joins us on the set. Here we go again. The greeks finally caved in and requested an extension for a bailout. The greeks insisted they did not request an extension for a bailout. They insist they wanted a master loan agreement. Suffice it to say everybody else in europe says they requested an extension for the bailout, and that is critical. That is the only reason we have European Finance ministers gathering once again today in brussels, the third time in two weeks, to actually discuss whether or not theyre going to do a new bailout arrangement for greece. So theres been a lot of fighting over the technical wording, but theyre going to have to get down to the substance as well. We have seen resistance from german. The official letter the germans feel has too much wiggle room for them not to have conditionality imposed on them in order to get what inevitably will have to be more money based on what they want. Theyve also gotten theres a lot of focus that germany is against this. The other Eastern European countries are also very upset about this. Slovakia in particular essential ly saying, look, we are a very poor country and were supposed to be giving more money to greece. You want extensions on your maturities . The Prime Minister of slovakia said yesterday i cannot go back to my citizens and tell them that greece or the minimum wage is twice as high as in slovakia and tell them we must give mormonmore money for greek wages, et cetera. It will be contentious today. Its not clear theyll get enough done today. Maybe it has to be extended to next week. The time line, 7 30 new york time, Eastern Standard Time is when well see all the finance ministers arrive in brussels. The traditional parade that we often see on cnbc europe if youre there for all these meetings. We dont often show them here in the United States. Maybe we will today depending on who says what. They talk to the huge crowd of reportings. The meeting officially starts at 9 00 a. M. Eastern time and when does it end . Who knows . The first one they did went seven hours. They thought they had something. At the very last minute the graex walked out. The second went 40 minutes max and they left all in a huff as well. What happens today is anybodys guess. The reason today is critical is the following. The bailout officially expires on the 28th between today and that time period these finance ministers have to bring whatever deal theyve got to their parliaments and vote and that takes time. How long does it take a vote to get through the u. S. Congress, right . Think about it. You have to do this. Theres a lot of process involved. Thats why today its critical. Its also critical because for greece the situation is fiscally ominous because theyre not bringing in enough tax rech nouse and in terms of their bank Banking System so many people are taking money out. There are predictions if they dont get something solid out today you could see capital controls in greece. That means you cant transfer money. You cant take money out of your bank account in greece because they would be running out of physical cash at this point. Wow. So things could get quite a bit hairier from here. Yes. To reemphasize the point andrew made the other day, most of the debt greece owes worst Case Scenario they leave the eurozone, theres like 30 billion roughly held in the private sector. Maybe not a huge impact on the markets yet. But what happened to the ecb beyond that poses questions. Exactly. And there are still concerns if greece leaves the italian finance mince it ter says if we allow that to happen then we can no longer say the euro is irreversible and thats a deep psychological change he is yid about. Wahwah im waiting. There are beautiful places. Youre waiting for the prices. Im wait to go buy those for half of what it costs right now. How long should i wait for a place in portugal if i like that . What do you like better . Santorini is gorgeous. It probably will cause the others but i like rhodes too. The other issue you face in greece, if you want to get a renovation done, the bur okay s im not going to buy a fixer upper. Turn key. But i want to use drachma. If when they leave. The inevitability of the euro you just said that. Its being questioned. Does it go back to the drachma . You can call it what you want. You need to go to some please for some warm weather. You can hear it in may throat. Yeah, im sorry. Its like frog is in my throat. Becky, stay there. Lean forward, god almighty. I keep drinking the hot water. On your birthday too, yesterday. They could just print euro denominated ious. Well know soon enough. Lets talk to some people that are sitting here. Thanks, michelle. The battle wages on in europe. The markets, the equity markets here hitting new milestones. Investors are shrugging it off. Alec young, investment strategist at Oppenheimer Funds and from bks management a cnbc strategist. We rushed you in like a Police Escort when the swiss let nothing has really happened. It all happened quickly. Oil came down quickly and then we saw these currency moves. And now weve been at new levels without a lot of volatility. Is this the calm before the storm . Is it going to start again . The storm only happens if as michelle said italy goes on the plate. I think everybody is making the same point now wait a minute. You said spain and portugal. Do i have a shot at buying something in italy . Wait, i wont go greece then. Off the coast. I still think its beautiful. Youll never get as good a bargain. No you wont. Its that much nicer. The euro has clearly found from a financial point of view the bottom at 110. Theres value over here. I think the biggest point here everybody is making this is not an economic issue. It is a political one. Economically greece is nothing. 2 of the gdpf. It spins out economic cannily it wouldnt have any kind of impact. Politically thats the thing. Euro is a political construct as an economic one. If you do have a seed of doubt that this is a reversible idea you have open gate for spectators to come in and try to push spanish debt, portuguese debt italian debt. Theyre managing it but its not like they have their finances. Its not happening yet. Its not happening yet. None of it will happen because speculators dont have a green light to short the stuff. They feel the ecb is controlling it. If they feel theres a fracture it gives them an opening to want to break it up even further, thats where you have the danger and thats are where the montory authorities and the fiscal authorities are worried about making sure theres political unity here that its a fortress. Once one chink of the armor goes, the fortress becomes much weaker for everyone else. So alec im talk inging about what were going to see year over year for the s p now on earnings given lets say 110 really is the boughtttom for the euro. Will we have positive year over year growth in the s p with oil where it is and with the dollar where it is . Yeah. If we assume stability in the dollar so right where we are right now what can we do, 5 . Yeah. I think the consensus is below that but companies will had manage the numbers to a level they can beat. Early in the year at this point given the numbers coming down we can add a little back in and that would give you five. Valuation 17 times, you can get a modest up year for stocks. I think what happens with the energy decline, the analysts will cut the Energy Sector quickly, earnings and energy are down 60 for this year. Theyre expected to be. It takes longer for them to revise up areas that benefit like retail. Discretionary. We think there could be an upward bias in earnings estimates as we move through the year if oil is bottom. And similarly if in fact the dollar has peaked you can see a similar impact coming from forex forex. Its easier to make a case the oil is bottoming than the dollar is bottoming. Short term the dollar looks overbought. On an intermediate to longterm view its hard to argue the dollar will not continue to do pretty well. Im surprised that ideologically both the New York Times and wall street journal are almost on the same page. With what caused walmart to take that action yesterday. Theres a lot of people on the left that would like to say that political fresh europe or whatever the cover of usa today said actually. And so did the ft. They were shamed in a doing it. Both the journal and the New York Times indicates theres competition for these workers and that walmart is going to be the one that can attract the low page workers. This is the way its supposed to happen. That companies in a capitalist system will pay the minimum that they can pay to get productivity and to retain workers. Once it becomes impossible to retain the people that they want, then wages go up in a tighter market. I think thats upbeat positive way of looking at it makes sense. The other thing to keep in mind, your question on earnings, is that obviously wage growth is the biggest margin driver for corporate america. Its the biggest piece of the pie if thats the beginning of the trend and we see a little bit of wage growth this year, 2 , 2. 5 , productivity will rebound this year that will keep margins high. Also were seeing an increase in foreign production. Even if we get wage growth margins may not rise for the s p 500 but they can stay steady because companies are doing more producing overseas and we should see an upparticular in productivity. Its not just walmart. Et aetna and other companies have done the same thing. The walmart was the most interesting as far as the dollar goes because it is a trend set trendsetter, the new union wage. And it means everyone else will have to raise wages. Thats positive for the dollar. Its still below the average retail it is below. You think im a communist but i think we should all be at 15. I wish up made 15 an hour. The fact theyre moving up means the fed is more likely to consider consider normalization. This is the only Thing Holding the fed back from normalization. June or september now . I think its really stretching it to believe june. In the next week will be the key thing will be yellin and what she says. She was onboard with june and then the next thing you know two days later. Theyre back tracking. I think realistically if they say september, if they give a guidance for september that will be enough for the market. Its still just february and they say theyre data dependent. I think there are a the lot of numbers theyre watching. The first rate hike timing is huge for the currency markets, for the equity markets, our message is basically, sure they probably move some time this year. Who knows when . Its like a pingpong ball trying to follow the consensus on the first hike. We think its a very gradual process. We think were in a low for long environment. This is basically were at trend growth that 5 q3 was an anomaly, not the beginning of a major people are worried once they start raising historically they do a rate hike every meeting. We dont think thats what were in for. We dont think its as big a negative as the consensus believes. Gentlemen, thank you. Alec and boris in studio with us, thanks. Coming up, how one can company is using google glass. We thought google glass was failing. Theyre saving lives. Well tell but that story next. How cold is it today . This picture says it all. It is so frigid in western new york that this fountain at a state park is being called an ice volcano. Well have a live report from our friends at the Weather Channel when squawk box returns in just a moment. Heres your travelers check. The days of going off line during flights are numbered. According to route happy, 52 Airlines Worldwide now offer inflight wifi. In the u. S. , one airline offers it on nearly 100 of its flights. Which one is it . Find out next. Ive been called a control freak. I like to think of myself as more of a control. Enthusiast. Mmm, a perfect 177degrees. And thats why this road warrior rents from national. I can bypass the counter and go straight to my car. And i dont have to talk to any humans, unless i want to. And i dont. And national lets me choose any car in the aisle. Control. Its so, whats the word . Sexy. Go national. Go like a pro. Which u. S. Airline offers wifi on almost all of its flights . Virgin america. Welcome back to squawk box, everybody. The buzz topic of the day from florida to maine record cold temperatures. The Weather Channels maria rosa, weve heard parts of the country are colder than and the ashgrc at this ka today. Reporter i believe it. I absolutely believe it. Were along iconic broadway quiet now. Business wise it has been brutal because of the cold and the ice. This is what businesses are contending with. Were on top of rock bottom brewery and we cut this off the floor here. The ice that is still very much around, there are a lot of businesses that were just getting some of those deliveries that they had to stop monday tuesday and wednesday. Yesterday all trying to get ready for the weekend back up in business. The weather will not cooperate. By tonight another round of snow. By midnight another round of freezing rain. We do have an ice storm warning in effect for nashville and around tennessee for a possibility of another quarter inch to half an inch of ice which means also another round of possible power outages. After that the temperatures get above freezing. Were talking into the lower 40s. Its coming along with rain and there may be localized flooding. Another thing to have to deal with here in middle tennessee. So for a city like nashville in the deep freeze the problems with the weather continue not just today with the cold but that wintry weather that starts up again as early as midday today. Back to you. Thank you, maria. And in an emergency seconds can save lives. An Ambulance Company has found a way to bring doctors with them as they transport parents to the hospital. Nbcs Charlie Wojciechowski this morning. Reporter a simulated run aboard a medical express ambulance equipped with google glass. I have a pulse of about 72 regular. Are you seeing that, doctor . Everything okay . Reporter fg the paramedics see, a doctor can see on a tablet like this one. We picked up our cell phones to tell them whats happening. Now we can send them real time Live Streaming video. Reporter the ambulance has to become a highpowered mobile hot spot with computers and cellular equipment tucked behind the front seat. We are seeing the patients face and this is what the doctor is able to see on his end. And hes able to actually zoom. Reporter so what he sees is determined by what youre looking at correct . Correct. Reporter and enabling a better diagnosis will mean Better Outcomes for patients. It can help diagnose things and minutes can be brain cells, heart cells, time is everything. Reporter right now the system is just set up to transmit video, but google glass has the ability to pump an image into a small screen on the glass device. That means patient e can kg or other information could be displayed for the paramedic right onboard the ambulance. Connecting all the equipment inside the ambulance will be phase two of the project for medics. While i can keep maintaining with my patient i can look in the corner of my eye and seeing all the visuals without taking my eye off him. The company said it was going back to the drawing board with the product. Hadnt really received the well, received a lot of attention, the traction th