They fair the worse under a severe crisis scenario. Theyre not taking a take over bid for thomas cook after they take a 5 stake in the u. K. Ralph travel operator sending shares higher. So seema, welcome back from barcelona. Did you pick up a little bit of spanish while youre there. [ speaking Foreign Language ] maybe we should leave the spanish part there. But what was the main take away from the week. The largest gathering of all thij things mobile. But you have new players, emerging markets offering devices with similar features and are also at a more attractive price point. So i think the smartphone wars how that dynamic is shifting with the emergence of the new player status. Something to watch. This was the biggest mobile conference apple nowhere to be. And the people that were there were auto makers. The intersection of tech and auto is a major trend and a story to continue to watch. A lot of auto players trying to figure out how to strengthen their Technology Presence and offer a more enhanced experience while driving. That was the only tech story of the week. The nasdaq totally irrelevant. Okay. Ill bring you a flash on a different topic all together. The chief of that he has told the newspaper that greece must pay back its loans in full and we expect nothing changed in that regard. So another sound bite out of the greece situation. What to watch in todays trade, the february u. S. Jobs report is out at 8 30 a. M. Eastern and economists expect another month of steady hiring. Forecasts call for 240,000 in nonfarm payrolls. That would be the 12th straight month of job gains a 200,000. Average Hourly Earnings a key measure of wage growth are seen rising. 2 . Some expect bad weather to have a minimal impact as snow and cold set in after the government conducted its survey. Lets discuss more with mitch. Pleasure to have you on. How important is this jobs number. I think you touched on it. Its also the Earnings Growth that the market will be looking to as some indication of whether the fed will make a move in june or september. So i think well all be look at that number. The other part of the story is wage growth. 0. 5 growth in the month of january. Do you expect that to increase or fall in february as well . To be honest with you i havent seen the results of my regression model yet but well be looking to see what that points to and how active the fed will be and when they make the move. Data has been strong over the last week or so and yields touched about 1. 9 when janet yellen was speaking last week. I think its extremely important even in the high risk side to manage the fixed income risk such as the rate rise that were going to see and that ill plies its not just how you invest in a company or the company you like but how you invest through security selection and the capital structure and type of securities youre investing in. How is the changing shape of the yield curve impacting your Investment Decisions at the moment . For the moment actually we prefer a bit of a long end. We have seen quite a move in the front end as well but we prefer the long end predicated that we will hedge out interest risk. High yield investors in particular need to begin to think in that regard as well. So were looking for long. Particularly in the u. S. Theres some room for it. Why wouldnt you be buying around 2 when youre looking at record low bond yields here in europe. What we have seen yesterday and through january was this crowding out effect that created a global hunt for yield. Thats where we have seen record investment in europe. 50 of the supply that we have seen in europe year to date has come from outside euro zone because of the record low rates weve seen in europe. Thanks for now. Mitch is going to stay with us and well talk more about the ecb in particular in about five minutes time. That was the cohead of credit. Goldman sachs is predicting gains of 220,000. Thats belocon census. They also outlined why this jobs report could be great and some reason why it may not. On the plus side we have positive Service Sector surveys. Average falling jobless claims anden increase in job ads. However on the down side weaker manufacturing employment surveys and increase in households saying jobs are plentiful versus hard to get and the harsh weather in february. That got us thinking. Do you think this could be the jobs number that disappoints. Does that set too high of an expectation for the month of february . Join in on the conversation here on Worldwide Exchange. Get in touch with us email at worldwide cnbc. Com. Our handles are on the bottom of the screen. 222,000. Thats what you expect . I think anything above 200,000 and the markets will respond positively. I agree. Its keeping the momentum of consecutive months above 200. Because all the other data has been positive. As long as nothing is terrible we continue to see yields rise. Its also about wage growth. Well continue to see wages improving. Thats a big pack to to keep into account as the fed tries to figure out when theyre going to raise rates. Lets have a look at what markets are doing so far in europe today. We are slightly ahead of the stoxx 600. We had woman standing very strong days. The first one in anticipation of the meeting and the second one in response to it. That continuing up today. Why was it positive reaction yesterday . Mario draghi was very positive on the outlook of European Growth. Big fan of mario draghi. The stoxx 50 is fractionally down. Lets see where were seeing the movement. You can see ftse is down fractionally. Germany and france just below flat. Italy is managing to eek out a slight gain. This comes off two days of strong returns for european equities so were finishing with a little bit less wind in the sails. Lets dive into one stock in particular. Thomas cook soaring 15 after Chinese Fosun International snapped up a 5 stake for under 100 million pounds. The group said in a filing it hoped to raise that stake to 10 although it does say its not looking for an all out takeover. Lets move on and look at bonds. As we were just talking about, the u. S. Ten year yield is now 2. 1 . We saw a bit more yield compression on the german ten year. 3 following comments yesterday but most action in europe italy, spain, portugal which today are hitting record lows. 1. 28 for the italian yield. Greece is the exception to the rule and yields remain elevated. The euro has seen a lot of action for those people that said its already priced in quantitative easing. The last two weeks we have seen over 3 of declines on the euro. It touched the 114 handle on january 22nd. Look at the slide, below 110 now. 10984. I know what youre saying yes, the u. S. Dollar side has been strong. Of course we have seen the broader dollar index touch 11 year highs so yes thats part of the argument but the euro certainly weakening a lot more than the other currencies were seeing here. Will the u. S. Dollar continue up . That depends on later today. Coming up on the show hollywood actor Harrison Ford is injured in a mane crash in his vintage plane. The full details on that story coming up next. Plus is there a bubble in the tech talent . We speak to the former head hunter at linkedin that said competition for talent in Silicon Valley is red hot. Hackers strike again. This time the victim is apple pay. How that Security Breach happened, in the next hour. Heroes charge explosion explosion explosion lead your heroes in the hit mobile game download heroes charge now whats that thing . I moved our old Security System out here to see if it could monitor the front yard. Why dont you switch to xfinity home . I get live video monitoring and 24 7 professional monitoring that i can arm and disarm from anywhere. Hear ye the awkward teenage one has arrived dont be old fashioned. Xfinity customers add xfinity home for 29. 95 a month for 12 months. Plus for a limited time, get a Free Security camera call 1800 xfinity or visit comcast. Com xfinityhome. Draghi is betting big on the ability to kick start economic growth. They raised this gdp forecast up from 1 previously. The projections for real gdp growth in 2015 and 2016 have been revised upwards. Reflecting the favorable impact of lower oil prices. The weaker Effective Exchange rate of the euro and the impact of the ecbs recent Monetary Policy measures. Still with us is the cohead of credit. He was cheerful positive bullish yesterday. What was your take. I think thats spot on. I think it was a pretty positive optimistic presentation. Pretty buoyant. He is like anyone would, talked about how things are moving along and that was on the back of pretty good gdp expectations out of the committee. So an upgrade of growth for 2016. Monetary policy has no doubt impacted the Financial Markets but questions remain on when it will impact and feed through to the real economy. What are your thoughts . Well i think thats the big question of whether or not what we need to see in europe is banks need to start lending again. Weve seen that tick up a little bit but thats going to be the key catalyst. So when we see that then we can be more optimistic about that. But the data coming out of europe has been pretty solid. Just recently right. Recently correct. I think thats why draghi was in such a good mood yesterday. Relative to Government Bonds the yield pick up you think makes them look attractive. Were constructive on credit. Theres certain areas in credit that offer more credit. Europe still has legs but valuations are still stretched at the moment. It makes sense in the situation. Not companies but security selection is important. High quality and low quality securities can move up in the capital structure. One fascinating dynamic is negative yielding bonds. Theyre now the Fastest Growing asset class this year. What does that do to the investor looking for yield . Does that make them more desperate to find income somewhere . Theres an effect of this. Weve seen particularly in the high yield space, a land grab for yield and i think it starts from Government Bond guys moving into investment space and thats why weve seen the higher data and lower quality names out perform more recently. So i think that is the knock on effect well see and well continue to see that for more. Make the case for your asset class for the moment. High yielding bond market over high yielding equities. First of all, over longterm periods risk of returns are superior. Higher recoveries if anything should go wrong but more importantly theres still opportunities if you invest globally and if you have a flexible mandate even though valuations might look stretched in certain pockets of europe theres opportunities to provide those returns. Where else are you looking at the moment . For example in certain pockets of emerging markets particularly in the high quality side and Investment Grade side theres also opportunities. Is india an area you look at . It is. There was a rate move in india but absolutely. Youve seen the senesxsex hitting that all time high. Does that also help make the bond market look more attractive then. Yes. Absolutely. Thank you for joining us. Now trading bonds has provided surprising profits but has draghi put an end to the negative yield trade . Do head to cnbc. Com. Im going to read that one. I like it. Well worth it. San francisco fed president jon williams said the fed shouldnt wait too long to raise waits. Speaking in hawaii williams says doing so could mean drastically overshooting inflation which would force the central bank to hike rates dramatically. And the Banking Sector will be in focus. 31 u. S. Banks have been given favorable marks in the Federal Reserve annual stress test. The first time all lenders have met the minimum capital level since the tests were introduced. Kayla filed this report. The Federal Reserve announcing all 31 banks subject to its socalled stress test this year did have sufficient capital levels to weather a depressionlike economic environment. Its the first time no bank has been under the fed capital hurdle since the test began in 2009. Zions didnt pass the 201 test. It did pass this year. It cleared by. 1 of a percentage point. Its scenarios plausible but unlikely. Unemployment at 10 . Gdp contracting 6. 1 . The Dow Jones Industrial average below 9,000 as well. It also tests against inflation, gdp growth and Exchange Rates in the euro zone u. K. And developed markets in asia. This year there was a new test that put more strain on higher corporate defaults. That hit home for investment banks. But even so all of them met the minimums. Bank of america showing the most improvement and that was news that helped lift shares of bac in the after hours. Some levels improved and others declined and Goldman Sachs actually saw its common equity ratio, thats the level most closely watched by analysts come in below its peers. Now fed officials warned that while the outcomes of this test this part one of this stress test might appear to be a vote of confidence for some banks, that may change when theyre proposed plans for dividends and buy backs are added to the mix and then theres also the qualitative test which is whether the fed thinks the bank is doing a prudent enough job planning for the risks it may encounter or budgeting for its shareholder pay out. Thats where citi group was caught last year with the fed rejecting its plan out right and saying it was not confident that they were doing a good enough job planning for risks that come along. That could be fall any bank which is why now the focus turns to wednesday march 11th when the fed gives the final word on the all important shareholder payouts. So well be watching for that and that could be the make or break for the part 2 of these stress tests. For now, back to you. Now some of the criteria that the fed looks at when analyzing these banks includes a 10 Unemployment Rate a 25 drop in Housing Prices a stock market plunge of nearly 60 and notable rise in market volatility but some of the big boys citi group, jp morgan Goldman Sachs, they all appear to be better positioned than ever. But the whole point is a little pointless because we dont know how or what circumstances will develop and one can almost be sure that the regulators are reacting to a past crisis and how that played out and the next crisis will come from somewhere completely different but clearly its good to be a little more cautious than we were a decade ago. Absolutely. They seem to be better position positioned. But this is only the first part of the stress test. 10 30 london time well be speaking to an expert on this topic. Last year citi group failed but by the end of the calendar year they ended to get a Share Buy Back back out. So the other question is how enforceable are the rules when they do come out. But a very interesting topic. Well have to watch the Financial Sector as one of the bright spots on yesterdays trade. U. S. Markets close higher but how long can the rally continue. Does the stress tests, or the results in terms of the first part of it give investors confidence on why to get bullish on the banks. Absolutely. 10 30 london time well be talking about that. Now german lender is reportedly close to paying 1. 4 billion to u. S. Authorities to settle allegations that it violated sanction laws the deal may come as soon as this month to suspend criminal charges. They declined to comment. Rbs, u. K. Chancellor George Osborne told the Financial Times he made a mistake in not restructuring the royal bank of scotland in 2010. He would like to proceed, quote as quickly as we can to get rid of it after the general election by putting it in the hand of the private sector. Shares in portugals bpi getting a boost after the board recommended they reject a take over offer. They said the 133 share was too low. But they rejected the statement saying it would see through the bid. As you can see bpi up 5. 6 . A Railway Train carrying crude oil has derailed in illinois. About 160 miles west of chicago. Two cars were on fire as of thursday night. No injuries were reported but they called for a one mile evacuation around the site. Now Harrison Ford has been injured after the actor crash landed his world war ii vintage plane on a golf course in los angeles. Sources have told our colleagues at nbc news the actor was in surgery after suffering multiple injuries including a gash to the head and possible broken bones. Fords son ben took to twitter to thank people for their good vibes and said his father was battered but okay. A Delta Airlines jet skidded off the run way while landing in new york. None of the 132 on board including crew were seriously injured and the run way was closed for more than 3 hours. Theres 514 runway incursions so far this year according to the u. S. Federal aviation administration. This is up from 449 incidents reported at this time last year. That could have been a carrier situation had the plane gotten into the water. But thankfully it was stopped by the fence of some sort. Temperatures are expected to dip on the u. S. East coast as another storm hits the region causing delays on roads and runways runways. Denies was one of the drivers stranded for 15 hours in kentucky. Theres no assistance with food or water. So have been melting ice and snow to drink. Nearly 20 inches of snow fell fast across the state piling up quickly. Sidney miller and her mom forced to spend the night in their car. We had no idea what was going on. Nothing through the radio telling us if there was a crash or anything and we just kept getting woken up throughout the night by these strange noises. So that was a little difficult. 200 motorists rescued by the national guard. Many taken to red cross Warming Centers in nearby communities. People took to social media looking for answers. Does anyone have any updates on how much longer . Going on 13 hours. Some people are hitchhiking now. A crew from the nbc affiliate found dozens of abandoned vehicles. Elsewhere was a slippery morning commute from maryland to texas where highways were littered with spin outs. Slick matches of ice everywhere. Across the midwest the snow piled up higher. 25 inches near radcliffe, kentucky. 15. 5 inches in missouri and 14. 5 in ohio. In washington children and parents took to capital hill despite a ban on sledding to enjoy the snow day. Still to come on the show too close to call. The general election heats up with two months to go before voting day. We speak to the president of the survey company after this break. Could bad weather and strike action put a damper on februarys number. European bond yields hit fresh lows ahead of the launch of the ecbs program. This after draghi declares they turned a corner. All banks passed the first round of the stress tests but they fair the worst under a severe crisis scenario. Theyre not planning a takeover bid for thomas cook after they take a 5 stake in the u. K. Travel operator sending shares higher in todays trade. The ecb providing a jolt to european markets. Mario draghi combining that commentary. Right now a mixed session. The ftse 100 trading flat. The dax up. 2 . And the italian markets higher by around. 4 . The other big story has been in the bond market. Lets have a quick look at bonds. U. S. Tenure at 2. 1 . Were focussing on the nonfarm payrolls later today. In europe in the other. Germany at. 35 . Greece remains at elevated levels. Lets also get a quick look at rates, the euro has been on a slide quite significantly over the last week it was only on january 22nd it was last above 114. So a significant move to the down side in the euro over the last two or three weeks. A check on oil, interestingly enough the volatility continues when looking at oil prices. Wti fell. Remaining within a range of 44 to 54. Continue to keep an eye on the price of oil. Today it is trading higher. Interestingly enough up about. 8 . Now were 61 days away from in leading memory. He accused David Cameron of cowering from the public after a series of debates. Instead the Prime Minister made a final offer of a single 90 minute programming featuring at least 7 party leaders. With no out right majority likely former conservative john major warned against making any post election agreement with the scottish party. He said the snp would enter into any agreement with labor with one overriding aim. To break up the united kingdom. Meanwhile, labor has a 4 point lead over the conservatives. Morning. Thank you for joining us. I checked the odds this morning. You can get 51 on an overall conservative majority and 10 on a labor majority. Do you think its accurate . I would not advise anyone to put their money on it. Were heading almost certainly for a Hung Parliament where nobody has an outright majority. Only if something unexpected happens in the next couple of months that transforms the scene would we get an out rights majority. That means coalitions are likely. We heard he felt a labor snp coalition would be dangerous for the united kingdom. Would you agree with him . I do. Were likely to hear ruling out any coalition. But also other arrangements. Im not entirely sure. We might get minority government. A party ruling on its own with perhaps support for one or more smaller parties. It may be a one party government. It may be minority government. We may have a second election. Thats just as likely as a formal coalition. Lets talk about the big issues or topics being discussed ahead of the general election in may. Immigration, something everyone has a view on. Net immigration at 298,000. Thats higher than when David Cameron came to office. Would you say the Prime Minister is winning or losing at this point . Hes not winning it but im not sure hes losing it. People still think labor is more likely than the conservatives. He has a problem where former conservative votes is to the right of politics. They have been going to the u. K. Independent policy and thats where the battle is in terms of the politics of the next nine weeks. Can they say enough about immigration to help win back some votes they lost on immigration and europe. One of the bigger debates is the debate on tv. How important is that. Why is he frightened . He is frightened if he did have a head to head debate with him he can only go down. So he doesnt want that to happen. Lets take the argument about the debate is doing David Cameron harm. Hes one of the reasons they lost it a few days. Thats a shortterm problem. If we end up having no debates within a few days and a few weeks peel will have forgotten about that. There wouldnt be a question over strong leadership which is what is being called into doubt at this point. His opponent will try to run that argument. I dont think lit get very far. Theres a single debate with 7 party leaders. You cant rule out one of the 7 making a mess of it and thats provoking a whole new set of stories. So the argument about the debates have very little longterm consequence. What happens in the debates might matter. Weve seen you lose ground. Are there supporters . Still protest voters do you think . They are. If you like with an agenda. Its not protest voters and nothing else. People are protesting about immigration in europe and theyre protesting about the sense of insecurity a feeling that britain has gone to the dogs. Its not like 40 years ago. Are they the scapegoats for that wider sense of malaise. Now its down but only a bit. Its about 16 of some weeks ago and around 14 . Theyre down but still up 14 . How many seats is that going to get . Wilfred is talking about this being the closest fought battle in a generation. But how close are those . Especially those that are swing areas . You can win very few seats. Nigel is talking about winning 10 out of it. Hell be lucky to get five. Its not just those that matter. Think about the conservative labor contests. It may determine the outcome of the election. So it costs labor votes but conservative seats . It costs them more than labor. It may change in the years ahead. The more people that vote in those labor marginals the more likely you are to end up with a Labour Government and the less likely for a referendum on the european union. Peter, you know about two months to go until the u. K. General election. If this was a u. S. President ial election we would know who is winning the race. But clearly the polls indicating this is going to come down to the wire. It will come down to the wire. At the moment my judgment my guess, if you like, is the conservatives will end up as the Largest Party but well short of an overall majority. Partly because labor which used to have huge number of seats in scotland is going to lose them to the scottish nationalists and that, i think, will probably prevent labour from becoming the Largest Party. What how long it lasts and when the following election will be we wont know until the election date and possibly not until after that. Its going to be very very close. Likely to lead either to a minority or coalition. Is that something thats going to last in the longterm . Does that make smaller parties much more powerful than they have been before. You cant get around the fixed term act. Its difficult but you could have a second election. I think theyre here to stay for at least a while but what precisely happens after may 7th election day depends on the numbers. How can parliament function with a minority government . How do we get to that second stage. You said its possible we have a second election. But what are the mechanics of getting us to any kind of Decision Making . What will happen and look Continental Europe but minority governments are things they had many times and they work because what happens if you have a minority government lets say 10 or 15 seats short of a majority, in order for them to be defeated 6 of 8 have to come together to oppose it. Thats going to happen very often so a minority government wont get all of it. It will be defeated on specific issues but if its close enough to a majority it can carry on. It does come down very precisely to the numbers. 10 seats either way could change the politics of britain after may 7th radically. Peter, its been a pleasure having you on. Thank you for joining us today. That was the president at ugov. Chinas finance minister stressed the government will continue expansionary measures to offset a growth slow down this year. He was speaking at the National Peoples congress after they said downward pressure was intensifying. Emily chan filed this report. China will implemented a fiscal policy to present a sharp slow down in the economy. These are the latest comments from the finance minister at the annual parliamentary session. In this process, we have to steadily deleverage. But must also prevent the economy from falling off a cliff and withstand these pressures. So we must adopt a fiscal policy. Pressures on the economy come from a weak Global Recovery and their need to reduce debt and china will have to deleverage. They raised the deficit to 1. 6 trillion yen. But the real fiscal deficit ratio will be higher than that and closer to 2. 7 . Revenues will hover in the Single Digits in the coming months. In future beijing will allow most local governments to issue bonds directly to fund their operations. The 2015 budget provided for 216 yen to cover local government debt. Fiscal reforms will be needed to deal with 400 billion in local government debt. China snapped up a 5 stake in u. K. Travel Group Thomas Cook for under 100 million pounds. The deal comes less than a month after they purchased Holiday Group club med. Its up some 20 on the news performing very well today. A 5 stake, they say theyre not going for a full take over though. No, they say theyre not but theyre going to increase to about 10 . Obviously investors like it. Thomas cook has had this massive turn around. It was close to collapse a couple of years ago. Had a chief executive Harriet Green ousted a few months ago. So its very good news from their perspective. Theyre talking about the fact that for example trips abroad in china last year went up 20 and this year is expected to be 140 million people. In bound tourism is up 10 and domestic is also up. These are real growth areas where you could see tie up. Remember in france thomas cook is i think the biggest Third Party Distributor of product. And they call him the warren buffet of the east. This is a very Interesting Company that could have really good implications for tourism in china. What i find fascinating is the move weve seen in shares of thomas cook. It was trading at 14 p years ago. Now its 143. And does that lead to further collaboration with club med . Thats the big question. Theyre talking about having tie ups and talking about potential hotel fund that would give thomas cook more exclusive access to particular brand hotel but yeah thomas cook had a whole debt for equity restructuring. It nearly collapsed. But this is a travel company thats nearly 200 years old and the package deal is becoming more and more popular and if you look at that club med deal that is trying to sell that idea to a whole new set of consumers. You love a club med holiday dont you . Love a club med holiday. I havent been on one. Would you recommend it. I have been on a club med holiday. Mexico. Tennis, wind surfing. Whats not to love about that. All you can eat. There we go. All our viewers if they havent been on one must. Thank you so much. Still to come with the countdown to the u. S. Jobs report underway well look at one sector fighting to find top talent. Find out more about the hiring spree in Silicon Valley. Thats coming up next. 80 of the poor in africa are rural farmers. 96 of them are doing rainfed agriculture. Theyre all competing with each other; theyre all making very low margins making enough to survive but not enough to get out of poverty. So kickstart designs low cost irrigation pumps enabling them to grow high value crops throughout the year so you can make a lot of money. Its all very well to have a whole lot of small innovations but unless we can scale it up enough to where we are talking about millions of farmers, were not going to solve their biggest challenge. This is precisely where the kind of finance that citi is giving us is enabling us to scale up on a much more rapid pace. When we talk to the farmers and ask them whats the most important thing. First of all they say we can feed our families. Secondly, we can send our children to school. Its really that first step that allows them to get out of poverty and most importantly have money left over to plan for the future they want. Japans competitive market is set for a shake up but could challenge the dominant players. Lets get more from that story live in tokyo. Thank you, wilfred. Convenience store operators family mart and uni group are negotiating a merger. The combined company would be the second largest in the industry ranking behind 7eleven japan. With the shrinking population and declining consumption competition is intensifying and only 7eleven has a boost in sales and family mart has long been ranked in third place and has been ambitious to expand. This was not enough to put it in second place they would have roughly 17,000 stores. But its important that just enhancing store numbers doesnt guarantee success. Much of the reason why 711 has been so successful it has its own factory that produces private Brand Products and the market is skeptical about the merger. 75 of the revenue comes from the supermarket business which is struggling and this would be a huge burden for family mart to take on. So with this report on the potential merger. On the other hand they rose over 10 on expectations. Thank you. Apple pay has been hit by low tech fraudsters using stolen credit card numbers. The wall street journal says apple system itself hasnt been penetrated by hackers. Criminals are entering stolen cards into phones which can be used to buy items without needing a physical card. Mark cuban says Tech Companies are overvalued and he says a bubble worst than the one that burst 15 years ago. He says the bubble is the fault of private investors putting money into apps and small Tech Companies. Its going to create the perspective that its even worse because now you get as little as 5,000 so you might be thinking instead of getting my car fixed im going to put my 5,000 in and hit a home run and next thing you know theres no heliquidity. Companies are stepping up the fight for top talent. According to our next guest its resulted in an employee driven jobs market. Im pleased to say the former vp of linkedin and founder of Talent Ventures which has clients like Twitter Joins us here in studio. A pleasure to have you on. A lot of people are saying theres a tech bubble brewing in Silicon Valley. What is that doing to the jobs market . Its the hottest in years. Companies cant hire the right talent fast enough. Theres a huge undersupply, especially of developers and technical talent. What its doing is shifting, i think, the power from an Employer Market to an employee market. We starting to see them retaining agents like sports figures. Its putting pressure on the best organizations to become the best places to work because in this increasingly transparent world where you have social media and the glass doors and the facebooks where people are talking about what its like to work at certain employers, companies are having to fuel experiences for their employees that are allowing themselves to create a platform of amplification. Its created an efficiency of opportunity. The best companies can no longer spin that theyre the best companies. They have to have their employees talk about it. For them to fit into the bracket of being hugely in demand for the Silicon Valley jobs market, what skills do they need to have . Are there specific degrees they need or is this a new world where they come out from age 18 and they can be in demand . Thats a great question. Theres some hard skills that are in demand right now. Mobile development. Search relevancy engineers, data science are the key ones but perhaps the largest talent in short supply is this mind set of agility. Its impossible to predict the future. Things are changing so fast. Information is flowing. You have big data and we have more information than we know how to absorb so you need a team of people that can navigate this uncertainty and find ways of leveraging insights from the unknown and this i think companies are looking to universities now to deliver to us students with a more open mind set. That dont need a job description. That are much more capable of operating in ambiguity. Its not just growing in Silicon Valley but around the world. In countries like india or china. How does that change the job market . The increasing short supply of talent is requiring organizations to look more broadly around the world for other slusolutions and capabilities and unfortunately some are preventing that from being realized but what were finding is thats driving new ways of collaboration. We need to work better and try to avoid the distance tax where this communication and cultural differences. It is forcing more collaboration where you have distributed teams learning to use different technologies to work more effectively together. A lot of people label the millennial generation as wanting to have more fun in the job market and in life in general and going for less serious jobs. Do you think thats a fair characterization . Thats a great question and i think the way that i would frame the reality of this new generation is that theyre learning in much more playful ways. Game mechanics and methodology is how some of the schools are applying through ipad learning. And some peel characterize this as a fun generation but actually its creating an environment where people can discover and innovate more. Their discovering is more of a playful environment than a serious hardcore one. Thats effecting work environments. Its effecting how companies communicate with their employees. So do they want the cool factor . That enriching experience . Is that a bigger priority than a high salary . No. What i would say is Millennials Want a place where they feel valued. They can make a difference. Theyre solving big problems and what theyre working on matters. Thats more important to them than compensation. I hired thousands of people over the last six years when we were growing linkedin and what resinated was purpose and mission and making a difference and that is what people resinated with more than compensation per say. Average salary of an engineer right now in Silicon Valley . 120,000 starting. Starting. Thats amazing. Former vp talent at linkedin. Thank you for your time. Were in the wrong business arent we . Perhaps we are. But its exciting to see that type of growth and interest in tech in Silicon Valley. Absolutely. People deserve to be reward first degree theyre delivering the goods. Fantastic for them. Lets have a quick look at futures. Absolutely. Right now a mixed picture. Dow down 2 points. S p 500 and the nasdaq nearly flat but that could change in the next hour. All eyes on todays u. S. Job report. Economists expecting solid hiring but will the weather woes weigh on the number . Well discuss after the break. Xkc happy friday and welcome to Worldwide Exchange. Here are your headlines from around the world. The dollar on a tear ahead of the u. S. Jobs data with expectations of another month of gains, above 200,000. But could bad weather and strike action put a damper on februarys number . Were going to discuss that. The results are in. All 31 u. S. Banks passed the first round of stress tests. Apple pay gets hit by fraud. Reports say criminals are using relatively low tech methods to take advantage of the companys mobile payment system. Another Major Incident on the rails. A train carrying crude oil derails in illinois with several cars catching on fire. Whats really interesting to see price action this week is over the past couple of years its been the fed in the drivers seat dictating Market Performance performance. Now its the ecb. Propelling markets higher providing the commentary. That had an impact on u. S. Markets as well. Definitely and if people think that qe was already priced in then you have to look at the euro over the last week. But the euro definitely weaker. Its designed over 3 over the last 2. 5 weeks. Were about to get to the start of the expansion which will start on monday. It was positive on the outlook for growth. But growth forecast and inflation by the end of 2016 to be back up at 1. 8 so suggesting that we already turned the corner and qe is going to help it be cemented. Also qe could extend beyond 2016 which markets saw as of course positive for european equities. Take a look at u. S. Futures after what was a strong day for u. S. Markets. Right now theyre pointing to a lower open. Perhaps a little bit of cautiousness ahead of the highly anticipated jobs report. Were expecting an acceleration in jobs report. That could have an impact on the headline number. Wage growth Something Else to watch. 0. 5 jump in wage growth in the month of january. In february analysts are expecting a jump of 0. 3 . Something to watch because its a precursor to inflation. Here we go global 300 index down about 3 points. Of course we have seen a lot of global data investors have had to digest over the past couple of days. India has been a bright spot. The sensex breaking 30,000. The rbi governor with a rate cut that provides more room for the Indian Economy to grow. Yesterday a positive day for european equities. Stocks have about 14 this year in comparison to the 500. Up just about 12 points. What is the bond market telling us . Those yields continue to move lower. Absolutely. Europe has seen record lows on bond yields particularly spain, portugal as you see italy at 1. 29 . Germany at. 35 and the u. S. 2. 12 . That is elevated. Thats why the action really is today. The euro in mar just hit a fresh 11. 5 year low in the last ten minutes. Its below 110. 109. 7. January 22nd it was above 114. Declined sharply. Most of the action coming in the last three trading sessions where we have been over a half percent of declines each day. Yes the u. S. Dollar is strengthening against currencies but across the board its the euro dollar moving the most today 50. 8 for wti and 60. 9 for brent. Today our eyes will be on the jobs report. The february u. S. Jobs report is out at 8 30 a. M. Eastern and economists expect another month of steady hiring. Forecasts call for an increase of 240,000 in nonfarm payrolls. That would be the 12th straight month of job gains above 200,000. Average Hourly Earnings the key measure of wage growth are seen to rise about 0. 2 to 0. 3 . Some economists expect bad weather to have a minimal impact as snow and cold set in after the government conducted its survey. Goldman sachs is predicting payroll gains of 220,000. It also outlines some reasons why the jobs report could be great and some reasons why it might not. On the plus side we have positive Service Sector surveys. Average falling jobless claims an an increase in online job ads. Weaker manufacturing surveys and increase in households saying jobs are plentiful versus hard to get and the harsh weather in february. We want to hear from you on this. Do you think this could be the jobs number that disappoints . Join in on the conversation here on Worldwide Exchange. You can get in touch with us email at worldwide at cnbc. Com. Theres mixed analysis on whether the fed will raise rates this year. This could give more preething room in terms of when they raise rates rates. Lets get some more now. Good morning to you cole. Thank you for joining us. Of course the debate rages on as to whether well see a rate hike this year in the u. S. And if we will when it will come. Is your focus more on the rhetoric out of the Central Banks or on the data . Yeah if theres anything we think investors are unprepared for is a much stronger u. S. Economy. The back half of last year showed the strength in some of the gdp numbers being revised up but the greatest investor of all time bought the largest private auto dealer speaking about buffet. How would he be interested in cars unless he felt there was a very Strong Foundation to the economy right now and the consensus is lower for longer in terms of rates which how often is the consensus right. Do you follow people like that with your invest lt decisions or are you confident that the focus on the u. S. Economy is the place to be . For us the toughest thing is if youre warren buffet you answer to no shareholders outside of a group that absolutely loves you. Theres a lot of cyclicality in auto. Quality is an important thing. Were better off owning the largest daily News Organization through daily units as well as broadcasting through local television stations. The biggest advertiser is auto dealers. You dont have to deal with the brunt but you have a lot of the leverage tied to the real economy and thats really what businesses in the United States of america have leverage to main street . Rates rising due to the conference in main street will not be an exciting thing for maybe the average stock because of the fact that we get 45 of the s p 500s revenues from outside the u. S. So we get a very Strong Economy and that might be debttriment to the stock here in america. You own gannett. Is that correct . We own gannett. Its our top holding. Who would be stupid enough to be in the newspaper business these days guys. Lets talk about your older holdings. Theres been a lot of taubppenheim of a tech bubble. Are we getting overvalued . Yeah you know. I heard some of your earlier gets guests talking about Silicon Valley. Gee fwraf theres Different Things going on. The Silicon Valley area is doing well. Were here in seattle. The economy is strong here. Commodities are falling off a cliff and north carolinadakota and texas and those guys are starting to look at it flex but california is not booming in relation to other strong economies. So think of housing as the biggest driver in the real economy. Its only about 4 of our gdp total. At the same time it touches so many places and that effects blue collar unemployment and that dominated our Great Recession if you will. So housing doing well drives the Middle America story. Drives the income inequality story because i dont know a Single Person i went to college with that has ever built a house or done plumbing. Its people that i went to high school with. Not college. Interesting views there on the real estate market. Well discuss more about your portfolio holdings. Where you see opportunity. In the meantime lets get you a run down of what to watch this trading day. The jobs report will dominate much of the focus but there are two other economic reports. January trade deficit numbers are out at 8 30 a. M. Eastern. January Consumer Credit due at 3 00 p. M. A pair of retailers report results before the opening bell foot locker and staples. Now a look at todays top stories. A oil train derailed in illinois. 160 miles west of chicago. Two cars were on fire as of thursday night. The derailment happened in a rural area and no injuries were reported but local officials called for a one mile voluntary evacuation around the site. This is the third derailment in the last month. Harrison ford has been injured after the actor crash landed his world war ii vintage plane on a golf course in los angeles california. Sources told our colleagues the actor was in surgery after suffering multiple injuries including a gash to the head and possible broken bones. Fords son ben took to twitter to thank people for their good vibes and said his father was battered but okay. I love Harrison Ford. Wish him a speedy recovery. Whats your favorite film . The fugitive. I was about to say the same one. We agree for once. This is amazing. I love hahthat film. J. P. Morgan under severe crisis conditions. But do the results even matter . Our next guest is saying bullish on the banks. Find out why. Investors eye wage growth. Apple pay falls victim to fraud raising a red flag over the systems of vulnerabilities and a train carrying crude oil derails in illinois with several cars catching fire. Jon williams says the fed should not wait too long to raise rates. Speaking in hawaii he says doing so could mean drastically overshooting inflation which would force them to hike rates dramatically. Meanwhile the fed says all 31 banks passed the latest round of stress tests. However those with large trading books such as Goldman Sachs, jp morgan had the weakest capital ratios under the severely adverse scenario. Lets talk about where one sees opportunity with the managing director and portfolio director at smead capital management. When you look at all the big banks, they all appear to be better positioned to weather an economic crisis. Is that a reason along to get bullish on the big banks . Yeah well i kind of you talk about the investment banks in general, look at jp morgan and bank of america differently than a Morgan Stanley and Goldman Sachs because thats the single biggest asset in jp morgan or bank of america is housing stock. So we own jp morgan and bank of america and wells fargo and in the case of bank of america as well as jp morgan auto loans are a big deal. We just got done talking about our ownership in gannett. Bank of america is the biggest proxy in terms of demand for cars and homes and that stuff. Its kind of polarized that between what we find attractive in the banking world. You take like a city group where theyre getting 70 of their revenues abroad. Asia is a much bigger story for them. Our biggest is trouble is do we have enough leverage and exposure to whats going on domestically and we think thats a question more investors should be asking is that economic cyclicality present in a major way especially for groups in london and europe trying to get after whats been going on in the United States. What happens when rates go up, cole . Thats funny you mention that. It all depends on which ones youre talking about. For example, we consider a company like caterpillar which we dont own a cyclical stock. They go through boom and bust cycles. The problem is a company like that does 27 of their revenues in the u. S. They have little exposure to the United States in terms of their business and its a very capital intensive business. If rates go up that could be very problematic but they have been treated like a blue chip the last couple of years here in the United States market. That does not look like a very good call. Cyclical opportunity as of where look at like a bank of america. If shortterm rates go to 1 bank of america will make 3 billion more per year in net income. Well we like that risk. Thats a very attractive risk. So for european investors especially what needs to be understood is not all stocks will win in a stronger u. S. Economy with stronger rates, the tied will go out and we will get to find out as warren buffet will say who is swimming naked. Do you have a top pick going into 2015 . Mvr. Its the fifth largest home builder in the United States. The only home builder that didnt bleed money out in 08 and 09. Its the only way to get housing directly. Its a great business. The chairman is the founder of the company. They return a great amount of capital. Once again, the toughest part in this conversation about this American Economic cyclicality is that, is there enough quality for us to ride through the storm . But if people havent gone out and bought a house yet, go do it. Borrow five to six times your money to do it. There will be good money made in housing out right. Well see if youre right. Managing director and Portfolio Manager at smead capital management. Lets look at todays other top stories. Irans foreign minister suggested a ten year moritorium could be possible. This comes after he was quoted by iranian Media Tuesday saying such an agreement was unacceptable unacceptable. House leaders urged obama to send military aid to ukraine. They ask him to support ukraines defense of its sovereign territory including the transfer of defensive weapon systems to the military. It also labeled actions as a violation of international law. U. S. Government records showed banks controlled by three billionaire friends of Vladimir Putin have seen 640 Million Dollars of assets frozen in the United States. According to the records released to the wall street journal by the Treasury Department the lender hit hardest is bank russia with sanctions leading to 571 million blocked in u. S. Accounts accounts. Coming up, taking a bite out of apple pay. Well cross live for the latest on that full story. Heroes charge explosion explosion explosion lead your heroes in the hit mobile game download heroes charge now help northern china reduce its reliance on coal fire heating plants and prevent 60 million tons of co2 emissions . When emerson takes up the challenge its never been done before simply becomes consider it solved. Emerson. They got from a wave of breeches at retailers including home depot and target. The system itself has not been penetrated by hackers. Criminals are entering stolen cards into phones that can be used to buy items without needing a physical card. Gap reports a surprise drop in february same store sales. Sales fell 4 last month. Sales at old navy were flat. Gap recognized february as a small sales month. It fell 2 in after hours trade. Its down 3 today in frankfurt. Temperatures are expected to dip on the u. S. East coast as another storm hits the region causing delays on roads and run ways. John yang filed this report. Its really been scary. Denise was one of the hundreds of drivers stranded for more than 15 hours in northern kentucky. Theres no assistance with food or water so have been melting ice and snow to drink. Nearly 20 inches of smoe fell past across the state piling up quickly. Sidney miller and her mom forced to spend the night in her car. We had no idea what was going on. Nothing through the radio telling us if there was a crash or anything. We kept getting woken up throughout the night by strange noises. So that was a little difficult. 200 motorists rescued by the national guard. Many taken to red cross Warming Centers in nearby kmuncommunities. People were looking for answers. Does anyone have any updates on how much longer . Going on 13 hours. Some people are hitchhiking now. They found dozens of abandoned vehicles they as drove toward i 65. It was a slippery commute from maryland to texas where dallas highways were littered with spin outs. Across the midwest the snow piled up higher. 25 inches near radcliffe kentucky. 15. 5 inches in missouri and 14. 5 inches near wheelersburg ohio. And in washington children and parents took to capital hill to enjoy the snow day. These visuals are amazing. 25 inch of snow in kentucky and its march. By now the cold weather should have subsided. The last little clip of someone on the sled made me a little jealous. Looks fun. Lets have a quick look at european markets here today. Two strong days in europe. In anticipation of the ecb meeting and then in reaction to it. Mario draghi outlining that the Bond Buying Program will start next month and was pretty bullish on his outlook for European Growth saying we already turned the corner and should continue upwards as the Bond Buying Program works. I suppose he deserves it. A little bit. But as we look at markets today not that surprising. Investors like what he had to say. The february squobs number is expected to show steady fwroeth but bad weather is being cited as a near term head wind. Economists are also watching the report for potential increase in wages and wage growth is a presurpre precursor to inflation. The dow down about 8 points. The big move today, the euro dollar down another. 5 . If the dollar is strengthening were going to have a good point in the nfps. But in general the euro down 20 against the dollar since may of last year. Still to come on the show more on markets. Plus u. S. Banks make the grade but find out why the sector could be facing a 500 billion loss under a crisis scenario. We break down the fed stress test right after this break. Welcome to Worldwide Exchange. Im seema modi. Im wilfred frost. The u. S. Dollar on a tear ahead of the u. S. Jobs data with expectations of other month of gains above 200,000. But could bad weather put a damper on februarys jobs number. The results are in. All 31 u. S. Banks passed the first round of fed stress tests but Goldman Sacks and Morgan Stanley fair the worst under a severe crisis scenario. Apple pay gets hit by fraud. Criminals are using relatively low tech methods to take advantage of the mobile payment system. Another Major Incident on the rails. A rain carrying crude oil derails in illinois with several cars catching on fire. Youre watching Worldwide Exchange. Bringing you Business News from around the globe. Welcome to the show. U. S. Stocks did end the day higher. Right now futures pointing to a lower open ahead of the highly anticipated jobs report. Of course this is one of the most important pieces of data watched by the fed and for that reason the market will be watching todays number very closely. Economists are also watching the employment report for a potential increase in wages. An important trend to the fed as wage growth of course acts as a precursor to inflation and remember in the month of january we did see a rise in wage growth by 0. 5 . The expectation for february is 0. 3 . That willing something to watch in addition to the headline number and the Unemployment Rate is expected to come in at around 5. 6 and of course banks will also be in focus given those fed stress tests. Absolutely. Of course the results coming yesterday and they demonstrated the ability to with stand a severe economic downturn but the results suggest the biggest banks could suffer losses of up to 500 billion in the event of a financial crisis. Kayla filed this report. The Federal Reserve announcing that all 31 banks subject to its stress test this year did have sufficient capital levels to weather a depressionlike economic environment. Its the first time no bank has been under the feds capital hurdle since the test began in 2009. They did not past the 2014 test. It did pass it this year but it cut close clearing a hurdle byby by. 1 percentage point. It had u. S. Unemployment at 10 , u. S. Gdp 6. 1 and dow jones below 9,000 as well. It tests against inflation, gdp growth and Exchange Rates in the euro zone u. K. And developed markets in asia. This year theres a new test that put more strain on higher corporate defaults but even so all of them met the minimums. Bank of america showing the most improvement. That helped lift shares in the after hours. It was a mixed picture for citi group which saw some levels improve and others decline. Goldman sachs saw its equity ratio, thats the level most closely watched by analysts come in below its peers. Now fed officials warned that while the outcomes of this test this part 1 of this stress test might appear to be a vote of confidence, for some banks, that may change when their proposed plans for dividends and buy backs are added to the fix and then theres also the qualitative test which is whether the fed thinks the bank is doing a prudent enough job planning for the risks it may encounter or budgeting for shareholder payouts. Thats where citi group was caught last year with the fed rejecting the plan outright. Now that fate could be fall any bank which is why now the focus turns to wednesday march 11th when the fed gives the final word on those all important shareholder pay outs. So well be watching for that and that could be the make or break for the part 2 of the stress tests. For now back to you. Lets discuss the banks further with the chief equity strategist at investment research. Thank you for getting up early with us this morning. Relatively good results from the fed stress test. What is your reaction . My first reaction is the severely adverse scenario in puts, 25 decline in Housing Prices and 10 Unemployment Rates so the absolute level of the changes are driving up and down the rankings of the banking system. For example, American Express and Discover Card came out really well. Well thats because theyre Consumer Finance related and only having a scenario of 10 Unemployment Rate for them. Then 60 in stock prices. You have Morgan Stanley, Goldman Sacks, the trading outfits that would have to deal with a huge collapse in the stock market and some are in the middle and usually toward the bottom are the housingtype stocks like wells fargo, bank of america, these types of groups are somewhere down toward the bottom too because they have a 25 move down in housing. So the content of the inputs of the severely adverse se mario is driving the outputs on the capital scenarios. The other thing id point out to the viewers is that if you look at the 31 banks net income losses losses. You get 24 of 31 banks losing money in this scenario. Six end up in double digits. 30 billion, 40 billion, 50 billion losses. So i personally feel like it does validate 6 or 7 big banks in the United States are too big to fail. I cant imagine the headline risk when you do double digit income losses become acceptable in a panic and do we really have the right scenario thats going to come to us because this is a Housing Market se mario like 08 scenario like 08. Theyre the two least likely to pay a dividend this year; is that correct . Thats correct. Thats going to be on a 5 base. Theyre not going to raise at that level. Citi group did manage to get a buy back out by the end of the year. So exactly how important are the results of this test . Are they imposable . Well well see. As kayla spoke earlier about it the wednesday qualitative assessment is more important and this gap in the period of time we he have this week is going to have a lot of back channel discussions with the banks about their Share Buy Back plans and theres an adjustment process. And like you pointed out, citi bank did pair something to shareholders last year. Well find out whats really going to happen. What are your thoughts . Because its capital ratio came in alt 5. 1 . That was just above the 5 that was the minimum required. And they did the same thing last year. That was a curiosity to me. The only thing you can think about is these are this is a very small bank with a mix of business thats very you anemic so that business mix must have a high content of housing and they must have a Housing Price component within their region. Theyre a Western Region bank also showing up in the lower ratio. So its surprising they had a year and they didnt do much about it. I know that they dont feel that they have the risk that the fed thinks they have. That may be where were going to see back channel discussions and push back. Zion was the only bank that fell below the require. John blank, chief equity strategist. Thank you for your time. Still to come on Worldwide Exchange apple pay was a highly secure way for consumers to pay without using their debit or credit cards. But now criminals found a relatively Old School Way to take advantage of the system. The story coming up next. Welcome back. A state Department Review of Hilary Clintons personal emails while she was secretary of state could take several months. This comes ahead of clintons expected run in the 2016 president ial race. Nbcs tracie potts has more on that story. Tracy. Good morning. Well what we know is that as of this morning the state department is scouring 55,000 pages of emails that she turned over as part of a request of all secretaries last year but her critics here on capitol hill want to know is that it . Could there be more . The reason they dont know is because she used this personal email account and perhaps more importantly she set up her own server at her home in new york. As a result those emails were all stored on her server at home. The federal records act requires that they be stored turned over so they can be stored in the state department. But there was no time limit on that. She says the 55,000 pages, thats it. Thats what her staff says. Thats all she has. Her critics wonder if emails may is been deleted. Theyre going through to see if they carry sensitive security information. The other part of the requirement is any sensitive emails have to be stored on a particular type of secured server. They don know what type she had at her home. This is all likely to be part of an investigation by the inspector general. The Republican National committee requested that. Also the committee here on capitol hill thats investigating the 2012 deadly bengazi attack they want all of the emails. So far they only have 300. Thank you for bringing us that story this morning. Seema and i picked what we think the most important mover of the last week have been. I have chosen the euro dollar. I have a one month chart to highlight the move we have had. Over the last 12 days we have gone from being above 114 to below 110 on the jurors owe dollar. A further half a percent today. U. S. Data continues to be strong but on the euro side as well we foes focused on the meeting yesterday. The decline suggests otherwise. Were down 4. 4 with most of it coming in the last ten days. Is there a chart more important than that . I would say the focus was on technology. If nasdaq it did break 5,000 earlier this week. Its trading just below at a level at 4,982. But the nasdaq breaking the 5,000 level. Reigniting talk of whether were in a tech bubble. Many executives said nasdaq 5 k a very different story. But mark cuban, the billionaire investor that sold broadcast. Com before the bubble burst he said we are in a bubble. Its 2000 all over again or far worse. Pointing out the one month performance up about 4. 6 . One of the reasons the nasdaq has been on a tear over the past month has to do with apple. Apple pay was launched last fall with much fanfare as a way for consumers to pay for items with just their phones but now criminals have figured out a low tech way to exploit the system to get further systems on that story landon dowdy joins us from cnbc headquaters. Good morning to you. Apple pay has been hit by fraud administers using stolen Credit Card Companies they got from data breaches from several u. S. Retailers. Apple pay itself hasnt been penetrated by hackers. Instead criminals are entering card numbers into phones that can be used to buy items without the use of a physical debit or credit card. Apple pay was launched last fall but the company hasnt said how many people are using the service but it accounts for two of every three dollars spent in the u. S. Credit cards can be added by taking a picture of a physical card orman yulely entering information. Banks are he responsible for verifying by either phone, text or emails. Criminals found holes in the verification process. While apple tried to mask information this doesnt prevent thieves from loading a stolen card home depot said 56 million cards have been compromised and the impact can be felt for months. They typically dont launch large scale replacements of cards because the cost is often less than issuing each customer a new card. A majority was on big ticket items bought with phones at apples own stores. They have awe higher resale item than those that accept apple pay such as whole foods or mcdonalds. Seema action back to you. Landon thank you so much. Lets look at the other top stories today. A Railway Train carrying crude oil derailed in illinois. 160 miles west of chicago. Two wars were on fire as of thursday night. The derailment happened in a rural area and no injuries were reported but local officials called for a one mile voluntary evacuation around the site. This is the third derailment involving crude oil in the past month. Now Harrison Ford has been injured after the actor crash landed his world war ii vintage plane on a golf course in los angeles angeles. The actor suffered multiple injuries including a gash to the head and possible broken bones. His son took to twitter to thank people for their good vibes and said his father was battered but okay. Before we go to break lets remind you of the headlines. The dollar pushes higher but u. S. Futures slip ahead of the crucial report as investors eye wage growth. Apple pay falls victim to fraud raising the red flag over the systems vulnerabilities and a train carrying crude oil derails in illinois with several cars catching on fire. Well be back in a couple of minutes. Heroes charge explosion explosion explosion lead your heroes in the hit mobile game download heroes charge now second day yesterday in reaction to draghis comments. It will kick off next monday the 9th of marchand we saw staff pro projections taken pretty positively. The economy already turned the corner and qe would enhance it further but today we have muted returns. Slight gains as you can see from the german index up. 4 . It will be interesting to see how much the weaker euro will help european corporate earnings. It broke 110, the First Time Since 2003. Well have to see if it does reach pair divers the u. S. Dollar. Take a look at u. S. Stocks. Futures pointing to a lower open. U. S. Stocks did halt two days of losses lead by utilities and financial stocks. Lets get a run down of what to watch this trading day. January trade deficit numbers out at 8 30 a. M. Eastern and january Consumer Credit due at 3 00 p. M. A pair of retailers report results before the opening bell. That would be foot locker and staples and the jobs report will be the other big data point to watch in todays trade. Economists expect another month of steady hiring. They call for 240,000. That would be the 12th straight month of job gains above 200,000. Average Hourly Earnings a key measure of wage growth rising at. 2 . Some economists expect bad weather to have a minimal impact as snow and cold set in after the government conducted its survey. Thats belocon census. Its some reasons why this jobs report could be great and some reasons why it might not. We have positive sector surveys falling jobless claims and increase in online job adds. On the down side weaker manufacturing employment surveys and increase in households saying jobs are plentiful versus hard to get and the harsh weather in february. Now do give us your guesses. I have gone for 222,000. Very specific. Why is that . You have to go for it. You might as well be specific. I think it will be just below expectations but still above 200 and that should be taken positively by the market. Anything above 200,000 and youll see the markets respond positively. A bigger focus will be on the wage growth. Scott, one of the big changes was the rise in wage growth. Do you think that makes the fed more comfortable raising rates in 2015 . For the feds to raise rates in june or this year its going to have to increase. This number the wage growth number and the nonfarm payroll number have been okay. Theres a lot of different ways you can read that number but were creating more bartenders and waitresses rather than manufacturing jobs. But i say this we have had every other Economic Indicator come out disappointing. I wonder how the fed is going to be looking at these numbers. Either its a place holder and theyll continue on their path or things arent good here. Were missing on gdp and cpi or ppi and last july we had crude oil at 100 barrel. Now its at 50 but its not showing up in retail sales. Thats not showing up anywhere. I think the fed is going to be more cautious than everybody else thinks and ill go on record saying that number is going to be around 200,000 today and the fed isnt going to raise rates at all this year. Thats a very interesting view but the u. S. Dollars performance over the last month or so particularly last couple of weeks suggests that people do think the data is strong and the u. S. Ten year moved up to 2. 1 . So some must disagree with you. Theyre looking at a rate hike this year. Yes as i drove in this morning all had a near certainty but at 2. 1 i might rewind the clock here. This time last year all the smart people in the room thought wed be at 3. 9 . We had countries move to cut their Interest Rates to weaken their currency to get themselves out of bad economies which strengthened the dollar without us having to move the dollar higher at all. So take a look at whats around us. Its going to be difficult to strengthen a dollar more. What the ecb and japan is doing, why would they embark on the big qes when i would say it hasnt worked here. Theres whisper rumors of a gdp under 2 the next time around. What the u. S. Has done as far as qe is a good lesson to be learned around the world. Its not working. Some would say easy money one of the reasons were looking at the s p 500 and dow trading close to record high territory. Thank you for joining us. Thats all we have time for today on Worldwide Exchange. Thanks very much for watching. Have a great weekend. Im wilfred frost. Im seema mody. Next up is squawk box. S month or any month. Plus could apple pay be putting your money at risk . Theyre taking info stolen during those data breaches and entd making fraudulent purchases without needing a card. And Harrison Ford is recovering this morning after his plane crashed on a california golf course. Right in venice near the santa monica airport. Its friday march 6th 2015 and squawk box begins right now. Live from new york where business never sleeps, this is squawk box. Good morning everybody. Happy friday. Welcome to squawk box here on cnbc. Im becky quick with joe kernen and andrew ross sorkin. He was supposed to be out today. I was supposed to be skiing. Its heartbreaking. We all had our hearts set on you not being here. Me the viewers. I was worried when i saw the delta plane that wasnt the plane i was supposed to be on. Not a day you want to be flying. See i thought you were out of going to a conference where you had to work. No i was going skiing