And nearly tripling the Funds Available under the program. This all part of an attempt to bring down financing costs. Pay attention to brazil at this hour. About 7 00 eastern time thats when the central bank there is expected to hike rates again as inflation surges. Well watch them when we get to 7 00. The adp report is due at 8 00 a. M. Eastern. Its supposed to show the economy added 215 private jobs last month and theres a lot of fed speak on the docket today. Well hear from the president of the chicago, kansas city dallas and new york fed branches branches. In washington theyll start to consider obamacare. Focus is on how to determine the law. It allows premiums to be subsidized in states that set up exchanges. If the court agrees the money wont be allowed to go to residents and states using a federally operated exchange and theres an interesting piece in the New York Times today that so much posturing but that the Obama Administration at this point is saying theres no way if theres an adverse ruling that were going to be able to deal with this. At least not immediately. It says 7. 5 Million People would immediately lose coverage. It would effect those people. As a result premium skyrocket. They said theres no way we can deal with this so theres no way you can come to that decision. Theyre basically saying were not even going to consider the possibility of dealing with this. Thats the thrust of the New York Times piece. That must be what theyre saying in public but that cannot be they supposedly dont. Ive never been. I havent been there either. Like munich is on the list. Zurich is number five. Dont we fly in there. Ive only been very briefly there. I like it. But were also there in january. Right. Land at the airport and drive to davos. You go straight . No theres nothing in zurich that would make me think its number five. Its just the road to davos. Were also there in january which is not a fairway of weighing in. I know its not but i need to maybe spend a little more time in zurich. I dont know the city but from what i have seen i didnt know if it was number five. Youll love it. Even in the winter. We should also tell you this morning about a number of stocks on the move. Shares of bob evans getting crushed. The Food Producer missing the mark on earnings and revenue and its saying it will not split its restaurant and grocery businesses. Check out that stock. I saw it down as much as 25 at one point. Right now its down by 25 . Smith and wesson beating the street on the top and bottom lines. Shares rallying on that news. That stock looks like its up by 10 . Watch target shares today. It will be eliminating several thousand jobs. It plans to cut 2 billion in costs the next two years. I dont know if you saw the comments from fed chair janet yellen. She lashed out at the banks saying the firms poor value might undermine safety. Heres what she had to say last night. Within recent years bankers at large institutions have not done so. Sometimes brazenly. These incidents both individually and in their totality raise legitimate questions of whether there may be persuasive shortcomings in the values of large Financial Firms that might undermine their safety and soundness. Yellen arguing the fed ex pekt pekts banks pekt expects banks to follow the law. Follow the law and act ethically . Come on. Seriously. She has not come out this strongly or publicly on this issue thus far. This is a reaction though. I think this is a reaction to what Elizabeth Warren has been saying where they called bob dudl dudley and said either you change practices there or we will find someone that will. They have to respond to the criticisms. There is this on going topic where people are very concerned that regulators rntd pushingarent pushing back. I found myself reading the entire section of the New York Times today. Thats a great thing. I have not looked as closely as the journal today. Number one, the hilary thing is back on the front page and im trying to figure this out. All the staffers. All the staffers have their own personal email addresses and theyre using it for personal business and whatnot. Im starting to think, though, that this might be a vast conspiracy. They have the vast right wing conspiracy. Im trying to figure this out though. Is it an he liz belgElizabeth Warren. Its called news. Its called the New York Times. Its called investigative reporting. Its called the New York Times. Colin powell was saying she had a private email address. It wasnt a law. You kanlt get theres a lot that investigators have been under able to get. Having the archive material and whatever freedom of information act issues you want its the other issue as the secretary of state, theres a security issue. Is your stuff incrypted, are you on . Im with you. Some countries are figuring it out. The other thing that i did was watching Prime Minister netanyahu and i was just taken aback by the democratic response to the speech. And the New York Times wrote a lead editorial on the speech. And maybe i read tom friedman. Nancy pelosi looked like she was going to cry and called it an insult that he was here. It was an inspirational speech i thought. And it was weird to see the democrats put into a position where it almost looked like they had to take sides and the side was iran rather than israel. It was a very strange dynamic. Democratic positions on israel are complicated. Im dumb in terms of iran is the leading sponsor of terror across the entire world. The guy that runs around still tweets about israel. Things arent black and white always but they are. It puts them in a position of saying are we listening to netanyahu and believe what he is saying then why are we bothering to try this negotiation with iran. But we have been lulled into the idea that negotiating with iran im not arguing their point. Do you remember when before it was more than six years ago because i think the president was still a candidate. At that point he said we might even talk to people like iran. It was like how could you possibly but we have been lulled for six years into thinking that we sort of all accept it. So i think were in a different position. But also we have i feel like a Global Citizen or sort of a citizen of the un in this country now where as netanyahu very clearly has his country and israeli interests completely so residence lut in his resolute in his own country. He thinks israel is exceptional and watching islamic terror being called islamic terror so clearly. Theres all of these contrasts. It is so different. Its his backyard and all of his neighbors hes talking about too. The world is pretty small now. Were all in the same backyard. But anyway i think its going to be tough to get a deal through congress now. I think its going to be very tough at this point and the reason the New York Times i commend them. It was an atmosphere they call it an atmosphere reminiscent of a state of the Union Address but more electric. From the clips i saw. I didnt see it live. Cnbc the networks didnt take it. Why would they . But cnbc we took the whole thing. It was unbelievable as they entered the chamber and each so many standing ovations. Thats what was weird. So much applause. And then to see the democrats come out with this glum looks on their faces afterwards it was very weird for me to see. Netanyahu said the enemy of your enemy is your enemy in this case. I dont think the democrat he was talking about isis and iran. But i think boehner put one over. I think he pianogeon holed the democrat here. If youre friend of iran it put thelda in a weird position. Im done. I read friedman so im trying to understand the nuisances. And tom has talked all along about this being used as a political scoring point for netanyahu who is facing election in two weeks. But i dont think he was thinking that watching him yesterday and knowing netanyahus history i dont think thats his this entire thing has been bizarre from the outside. The entire situation has been a bit bizarre to watch netanyahu treated as i know but i think its insulting to question netanyahus motives given what he has been through and what israel has been through and what israel is facing. Someone said yesterday its about his survival as a candidate rather than the survival of israel my point has been netanyahu was invited with boehner. If you have a problem with this you should have a problem with boehner not asking the white house. Boehner does a lot of things but this one looked pretty i dont know, put you guys in a weird position andrew. Why dont we take a look at the markets this morning and see where things stand right now. If you want to check out the futures we saw a pull back in stocks. Dow was down about 85 points. S p off by 9. 5 points. By the way, the worst day the nasdaq and s p 500 had since january this year. Dow had the worst day since february 9th. You see the red arrows continuing with the dow down another 65 points. S p futures down by nine points. If youre taking a look at whats been happening at the early trade in europe similar story there. Biggest decline probably coming the ftse and dax are down by by. 3 . Overnight in asia youll see that the nikkei was down by. 6 . The shanghai was up by. 5 . Oil prices look like theyre up about 26 cents. Checking out the bond market looks like right now its yielding 2. 29 . The dollar is where things are getting really interesting. Yesterday the dollar index hit an 11. 5 year high. The dollar is up once again against the euro at 11119. Gold prices barely budged. Moves by big Institutional Investors attend to lead Retail Investors by 12 to 24 months. Look who is back. Hi joe. How do you get away with the jeans, eric . Because its under the table. No one would see it unless some idiot calls i had up. I have a jacket. Im the only one here with a jacket. You are. First look on data on the most bond sold stocks by the big institutional players. This is good for you because it has a sports angle almost doesnt it . It has a bit of a sports angle in terms of predicting it going forward. We had warren buffet on the show this week. Americas most famous value investor. We get to see what the rest of the community is doing and according today at a from investment they tend to predict what retail is going to do another 1 to 2 years out. If you look at the five big stocks that they increased allocations to in the last quarter. We have Tesoro Las Vegas sands, walmart, Morgan Stanley and squen rahal general dynamics. Theyre late on Morgan Stanley. That was the Fourth Quarter. These stocks got a 5 increase in new allocations. On the flip side if you want to look at five names that lost 5 of the community got out of these names. Phillips 66 and haliburton. Look at those three energy names. Look at whats happening with retail with macys. So youre seeing a little bit of a rotation there and whats interesting is because this is where theres still moves to happen. This is things that the Institutional Community has done but retail hasnt caught up yet. Theres i would argue with energy thats been such a clearly tell telegraphed move that maybe the individual ones have gotten that message. Maybe. Its a 12 to 24 month type of trend. You dont want to run and buy the stocks. You dont want to be too late to the game or running against where the players are going because obviously you have people thinking about this all the time where the retail guys might be trying to catch up and make a mistake in that one. Its interesting to see the data. Investment breaks down the top 20 stocks so its something to consider. Theyre not warren buffet but everyone trying to be warren buffet. No warren was interesting yesterday, or two days ago. Well see. He was along with that. Exxon mobil sold out 6 billion. Do you think there was a group thing that goes on . How does this happen . Theres a group thing that goes on. Is it a group thing that you think is talking to each other they all react to that. Macys has been problematic. The interesting part is if you look at the 20 biggest, the most widely held stocks obviously google apple, microsoft they have been the same three going for awhile but if you look at the other names there, they made a move there. Comcast has been a big mover. Everyone got into comcast but got out of verizon so when it comes to the big names youre also seeing certain themes there as well that reflect back to news but makes you wonder again if institutional does have this eye into the future. Did they want to follow them or take the contrarian view. Comcast was above 60. I saw that yesterday. Why are you watching that . Thats good. They moved up from the 13th. Cmcsa. They were the 13th most widely held stock in the end of q3 they became the 8th most widely held in q4. That was the biggest of anything in the top 20. Good fact there, eric. Good com fact. Parent company of the network. Got to say. Thank you for coming. Thank you. When we return former Chesapeake Energy ceo is no stranger to bold moves and plenty of controversy. Now he is at it again raising 15 million for a new venture. That story, next. Building aircraft, the likes of which the world has never seen. This is what we do. Thats the value of performance. Northrop grumman. Now with the xfinity tv go app, you can watch live tv anytime. Its never been easier with so Many Networks all in one place. Get live tv whenever you want. The xfinity tv go app. Now with live tv on the go. Enjoy over wifi or on Verizon Wireless 4g lte. Plus enjoy special savings when you purchase any new Verizon Wireless smartphone or tablet from comcast. Visit comcast. Com wireless to learn more. Consulting firm says you should move to vienna. The capital of austria retained the tom for six years. No United States cities were among the top 20. Our highest ranking locations, San Francisco, boston and honolulu. It looks at Living Conditions at 440 cities using 39 different factors including political stability, crime, censorship availability of International Schools and Public Transportation transportation. They use information like this to help set compensation for workers on international assignments. If you go somewhere good you get paid less. Is Media Censorship do you want to have Media Censorship . So its bad i see beijing in your future. People want censorship vancouver is nice. I like it. I dont know what factors go into these things. Euro centric crap that goes into it. Vancouver is great but ill take San Francisco any day. All right you want to argue with that . No i like San Francisco a lot. Wheres paris . Was paris there . They dont have enough starbucks on the corner . Wheres rome . They have a nice they were there. And new jersey gets a bad its okay. We like it. We dont want people there anyway. Exactly. Aubrey is raising money for a new venture. Kate kelly is working on the story and has details bright and early. You live here dont you . Yeah i live in brooklyn. You live in brooklyn. Brooklyn now the least affordable part of new york city. Youre a hipster. If you live in queens youre a hipster. The peoples republic of brooklyn. Im a proud resident. Exactly. Its a little more left wing than china. I guess so. So should we talk aweubrey mcclendon. He partnered in 1989 and gathering 15 billion for his new venture American Energy partners. From respected backers like the energy and minerals group, first reserve and black stones gps capital unit. That was a year and a half but it would appear that 15 billion isnt enough in this area of 50 oil where drilling profitably can be tough so hes out there again in a far less hospitable climate. He has spoken with banks about proposed new drilling investments including in california. Also for 250 million purposes and even a pool of permanent capital funded by investors. Bonds tied are trading at well below par and investors arent that hospitable. One recent problem, a lawsuit filed accusing mcclendon of having stolen trade secrets before he left in 2013 so start his new business. They promised to file counter claims but the heat was enough that city group that had been handling this 200 million spack backed away from it. In terms of operating and at times being overleveraged, a real concern for people. I guess you look at where oil prices are right now. Whats happened in an Energy Complex and how much you would value some of those skills changes a little bit. Theres some debate over whether it was economic. Some have said on our air it can be profitable. Others think thats a stretch. I dont know what the operating costs are. So people tend to think highly of what they have invested in but again, 50 billion dollars, 18 months and hes out there again its a cash intensive proposition. Its an interesting dynamic because we were told peak oil was coming and we had the notion that its going to get harder and harder and more expensive to get oil out of the ground. In contrast we know about technology and even in drilling we know how as we move forward we get better and better at doing things and the free market gets people to be even more competitive. Heres the thing. Those are opposing forces. One its harder to get but two the technology you can make money at 50. On shore you can do it cost effectively. We see oil pricing at a higher level, its got to be more expensive if youre going to go to the deep water, arctic gulf or siberia in the harder to drill regions. People have that bet on that view of any mineral or anything in the ground any resource, it seems like the technology has progresses more than people thought which neutralizes a lot of the fears. Well its basically been discredited. Thats an understatement. He finally sa