Defying neat explanations. Polar vortex . Not this year. Bipolar market, you bet. That pretty much explains january. On this final day of trading for the month stocks in a deep funk for much of january, roared higher. Dow jones industrial average rallied 396 to 16,466. Good for the indexs best percentage gain since august. The nasdaq climbed 107. The s p 500 gained 46. Todays drivers were an Interest Rate cut in japan and weaker than expected Economic Growth data in the u. S. Taken together those two factors suggest that american Interest Rates may move little, if at all, for many months. Todays strong finish merely masked a mostly moribund month. This january will be remembered for producing the worst tenday start to a year ever. The plunge in oil prices, big stock losses in china, fears of a global slowdown gripped the market and sent shares sliding. And the final tally for the month, its ugly. The dow lost 5. 5 , worst january since 2009. Nasdaq off 8 or so, its worst showing in any month since 2010. And the s p 500 fell more than 5 . More on the economy now which saw growth sputter in the final months of last year. Gross domestic product, the broadest measure of economic output, expanded at. 7 in the Fourth Quarter, slightly less than expected and it follows a 2 advance in the third. But the Federal Reserve would like to see more. More growth, not less. And as Steve Liesman reports thats not the only thing complicating the Central Banks rate hike strategy. The u. S. Economy registered weak growth in the Fourth Quarter and the bank of japan facing its own anemic recovery cut its Interest Rate to negative to try and spur economic activity. It was an historic move and the boj now joins the European Central bank as the second major Monetary Policy authority to charge banks for keeping money on account. Thats right. If a Bank Deposits money at the central bank, they get charged for the privilege. Its a way of giving banks incentive to loan out their cash rather than hoard it. It leaves the u. S. Federal reserve glaringly alone with its intentions to hike Interest Rates this year. Increasingly it appears to wall street janet yellen and the fed will do nothing of the kind. I think march at this point is a low probability. I think the fed is taking into account whats happening from other Central Banks which are continuing to ease and thats going to impact the dollar and thats going to create tighter financial conditions for the u. S. Fed officials on friday acknowledge the global development. What does worry me are things from abroad. Like what you said, whats happening in europe in terms of their economic struggles that continue. Whats happening in asia. Overall, i actually am pretty optimistic about where we are in the u. S. Economy. And i think that we can weather some of these storms out there that are happening abroad. The impact overseas of the stronger dollar are evident in the gdp report. It took almost half a point off gdp. Another big negative, decline in investment dragged down by a falloff in spending for oil drilling equipment. The one bright spot, consumers who are weaker than the Third Quarter but still good spend morgue than 2 . Theyre a big reason why many economists expect growth to improve this year. The u. S. Economys held up remark debris well but it could get some help from foreign economies if negative Interest Rates have their intended effect. I think this is all pointing to the fact that other Central Banks are finally getting on the program that they have to create the liquidity that the fed no longer needs to do for the u. S. Economy. A big wall street rally showed investors were content to shrug off the weak u. S. Growth and roll the dice on the prospects for better foreign growth and less fed tightening. Will investor optimism help carry this little rally through into february and will todays weak data change the feds course for rate hike in this john canali, chief economic strategist at lpl financial, here to weigh in. Good to see you. Start with where steve left off, what effect todays gdp data, the moves by the wayne bank of japan on the course of american Interest Rates . What do you expect for the remainder of this year . I think the fed is in a tough spot here. They had a statement this week but all they had was a statement. They didnt have a press conference. Fed chair yellen didnt get to explain what the fed did. Theres no new set of economic forecasts. The next time well hear from the fed on any of that is in the middle of february, i think february 10th, when chair yellen testifies before congress. Well have another ten days or so before we actually hear what the fed is thinking about this. My sense is the fed is concerned about Global Growth but probably not as concerned as Financial Markets are. But they are concerned. The market right now only has the fed hiking rates one time this year. The fed says its still going to do four hikes this the year. Thats got to meet in the middle. My guess is it probably meets closer to what the market thinks than the fed thinks but we have another ten days or so to wait that out. We wont know until then. John, there is a lot of rumor going around in the market and a lot of fear in parts of the market, despite todays big move to the upside, about things like sovereign debt defaults, currency defaults, things we have seen in the past. Are those valid . The market seems to think that they are possibilities. Despite some of the strengths we see here at home. Thats correct. I think todays rally off of the bank of japan move we had overnight and the fact that the fed is probably going to have to rein back its rate hikes, thats a good thing. But remember, groundhog day is next tuesday. And we could just repeat january all over again. If we get some kind of a currency move based on what happened with the bank of japan. So the bank of japan is in essence weakening the yen. That might impact what china does with its currency. Then the chinas trading partners might have to change what their currencies are going. That knockon effect we last saw in realtime in 1998. That was a very unpleasant, volatile second half of 1998. Im not saying thats not our base case but i think the unspoken fear in the markets is that happening or the fear of that happening really i think is whats driving asset prices, at least in january so far. I spoke earlier today to the ceo of whirlpool who is clearly worried about the strength of the dollar. It is hurting his business. Do you think that will purchase cy persist and hert american nationals in 2016 . Quarter to date, the dollars up about 5 versus where it was a year ago. The head wind is abating but its still there. Shouldnt be as bad in 16 as 15. Thank you, john canali with lpl financial. Oil prices rose to just above 33 a barrel after a government report showed production fell in november for the second consecutive month. The number of oil rigs dropped for the sixth straight week. Traders are tracking those things closely. Any information on potential supply changes given the global glut of crude. But despite todays rise oil saw a doubledigit decline for the month of january. So the Biggest Energy companies in the world are now feeling the wallop of those low oil prices. Today chevron reported a loss of more than 500 million in the most recent quarter. Its fullyear profit the lowest its been in 13 years. Morgan brennan reports on chevrons financial pain. Reporter chevron reporting its first quarterly loss since 2002. As oil prices collapsed to the lowest level in over a decade, the u. S. s secondlargest Energy Company saw earnings plunge more than 75 in 2010. The lions share of losses from the upstream division which explores foreign oil and natural gals. Fourth Quarter Results were weak in the downstream segment as well as refining operations saw profit tumble. After slashing its 2016 spending forecast 24 last month, ceo john watson reiterated plans to cut costs including reducing the companys workforce by 10 . Chevron also hopes to sell up to 10 billion in assets through 2017 after shedding 6 billion worth last year. As the Company Braces for oil prices to remain lower for locker watson again stressing the companys number one financial priority is to maintain and grow the dividends. Which currently yield 5 . After last quarter, analysts question just how long chevron can pledge to do that. But watson is insists its kept a strong Balance Sheet just for times like this. Cash flow as you can see by chevrons Performance Today is tight. Theyre going to have to borrow money this year if prices dont improve and if they want to maintain that dividend. Given the growth projects that they have in store for the next two or three years, its a nice balance between Growth Opportunities and the ability to pay that dividend. As the first of the Major NationalOil Companies to report it could be a harbinger of more tough news to come. Mobil, bp, and shell report next week. Plunging upstream profit, resiliency of mining operations, and assurances dividends will remain intact of interest. Still ahead, the senator who wants to crack down even harder on corporate crime. Thousands of port workers walked off the job today in new york and new jersey ought bull shutting down one of the nations busiest ports. The stoppage is reportedly related to issues concerning collective bargaining and time off after injuries. The terminals impacted receive near 3030 of all cargo on the east post. The Port Authority is urging members to return to work. Companies across multiple sectors paid billions in civil and criminal fines last year but senator Elizabeth Warren wants more. In a report she criticized what she calls shockingly weak punishments for corporate crimes. She cites numerous cases in which prosecutors were too timid when going after companies and individuals for what she calls criminal misdeeds. Emmett jaffers has been following the story from washington. What were some of the details in the senators report . Good evening. Heres the report here, rigged justice, eight pages released this morning. Elizabeth warren says its going to be the first of an annual series of reports shes going to put out highlighting what she sees as the failures of american Law Enforcement and securities regulators to prosecute big business and particularly individual executives for wrongdoing in corporate frauds. Whats upsetting to Elizabeth Warren here is the department of justice, she says, is not going after enough actual individuals. She also called the s. E. C. Especially feeble. And she cites 20 Different Cases here where she thinks that the u. S. Government could have been a lot tougher on those people who allegedly committed the fraud here. So a really scathing report here from elizabeth war len. It points the finger at justice and at s. E. C. So what did they have to say about it . Well, we asked them both. You might not be surprised to hear. Heres what the department of justice told me earlier this afternoon. In a statement to us, they said, the department is committed to aggressive investigation and prosecution of corporate wrongdoing. As the deptive general announced the new policy on individual accountability in september 2015. I also asked the s. E. C. For their comment on this. They didnt have anything to say publicly but i can tell you thay that i know people over there are particularly proud of the s. E. C. s new policy under Mary Jo White requiring companies in many cases to admit wrongdoing when they settle cases. Previously it had been the case they could settle without admitting or denying the wrongdoing in question. Under Mary Jo White the trend has been to force a lot of companies to admit wrongdoing when they settle. Elizabeth warren thinks thats simply not good enough. I suspect wall street will say nothing about this, but maybe privately theyre saying something. What would they likely make of it . Wall street already thinks that the federal government is too onerous and overbearing. They do not think that the s. E. C. And the doj are not doing the job. They think theyre doing too much. So obviously wall street and Elizabeth Warren live on different planets. Thanks very much. From a different planet, washington. Thats right. All right, an iconic name is splitting up. Thats where we begin market focus. Xerox is splitting into two companies. One a Document Technology company, the other Business Services. The move comes as xerox was under pressure from activist investor carl icahn. Although xerox says the move had nothing to do with carl icahn but he will be able to name three members to the board of the Business Services company. What we found is that two companies that have fundamentally different kind of eth ethos, different movements, one grows a little slower than the other, one needed a little more investment in development and developing its market than the other, one threw off a lot more cash than the other, that it was probably better that we split so we can actually be more flexible, more responsive. And essentially more fit and focused for the markets that were attacking. Wall street applauded the move. Shares of xerox up more than 5. 5 to 9. 75. Appliancemaker whirlpool said quarterly profit more than doubled thanks in part to costcutting measures but revenue fell more than 7 . Whirlpool says this year it sees a strong u. S. Market offsetting weakness in its overseas business. Shares up nearly 2 to 134. 39. Cost cuts the story at honeywell. The move helped lift profit and offset a drop in sales hurt by the strong dollar. The diversified Technology Manufacturer reiterated its forecast for 2016. Honeywell jumped to 1 over 3. 20. American airlines posted a record profit for Fourth Quarter and all of 2015. Cheaper fuel prices helped offset a drop in revenue. The company doesnt expect to 2 billion on share prices. Shares up 22 , 38. 99 the close. Falling cigarette volumes a driving factor in altria group missing earnings estimates. The owner of Philip Morris said it is working to cut 300 million in costs by the end of next year. That will include about 500 salaried workers. Shares of altria group up 2. 5 to 61. 11. And shares of merck got a lift after the food and Drug Administration approved the companys new treatment for hepatitis c. Merck is the latest to enter the growing market for hep c and will compete with treatments from gill yad and others. It rose to 50. 66 while gill yad was off 5 . To market monitor who who says stocks will provide protections to your portfolio in times of uncertainty in this market. He is rich weiss, a morning star five star fund manager at American Century investments where he oversees 25 billion in assets. Welcome, nice to have you here. Nice to be here, thank you. Lets start first of all with your overall take on this market. Well, unfortunately, we see the economy both globally and domestically slowing down. You know, the fact is were not necessarily looking for a recession, but u. S. Real Economic Growth widely forecast to be maybe growing at 2 , 2. 5 this coming year, roughly in line with what we saw last year. Stagnating growth. Were not getting much of a push from overseas and china continues to decelerate. So were really battening down the hatches and trying to bullet proof our portfolios. As the stock market moves from the Growth Stocks to value sectors, its imperative that you shift your asset allocation. Looks like youre trying to bullet proof with energy names. Start with entergy, give me your thumbnail on that one. Entergy, integrated Energy Company in transition. Primarily electric utilities in the gulf states, mississippi, louisiana, texas, arkansas. But they also own Nuclear Plants up in the northeast. Which they are in the process of negotiating decommissioning. By transferring or transitioning from these volatile, noncore commodity sensitive types of plants into the more regulated, stable cash flow businesses, they can almost guarantee an increase in price earnings ratio regardless of the economic direction overall. Next on the list is first energy, also in the utility sector. Right. Similar story there. Under the leadership of chuck jones, just appointed ceo, theyre going to a back to basics strategy. Theyre going to focus on their Core Electric utilities businesses across the midatlantic states, including ohio. And they too are pursuing this transitional strategy from the deregulated to highly volatile, deregulated industries in nuclear and coal, over to the regulated industries. So you get better earnings visibility and higher multiple. Both those Energy Stocks are trading at maybe 10 times earnings. And if they successfully make this transition, they could easily be valued at 14 times. They each carry a nearly 5 dividend yield. Buffered significantly on the downside. A quick few seconds on a company you call painfully cheap, syncrony. A unique situation, a spinoff from ge, theyre a Consumer Finance company, the largest and oldest Retail Credit card company, private label company. They do business with jcpenney, walmart, theyre in a partnership with amazon. Huge online database of information which theyve yet to monetize. Theyre growing online. They have extremely healthy growth rates. Citigroup, capital one, td bank are all trying to get into this lucrative market. But syncrony has a lock on it, also at 10 times p e. Richard weiss with American Century investments. A month ago most people hadnt heard of the zika virus, now everyones talking about it, especially after the World Health Organization said it is spreading explosively in the americas with as many as 4 million cases possible over the next year. The report on what we know and whats being done to control it. Reporter though its symptoms are generally mild the concern about zika virus is mainly for pregnant women. Brazil has seen a 20fold higher incidence of the birth defect microcephaly, leading to smaller heads and lessdeveloped brains in babies. The link isnt proven but officials are concerned. Some countries in the region have advised women to delay pregnancy. The cdc advises pregnant women to delay travel to areas where zika is spreading. United states has had more than 30 cases reported but theyve been among travelers to the more than 20 affected countries in central and south america. The virus isnt report to be spreading here and experts say the risk in the u. S. Currently is lower than other areas. We have to have a very healthy degree of respect for this virus but i dont think we need to be unduly alarmed just yet. Reporter because of the way the virus spreads, carried by a mosquito which carries dengue fever. Its spreading in central and south america because there are a lot of people who are currently infected and lot of mosquitos are we have very local distribution. Reporter the mosquitos mainly found in the warm southern parts of the United States where Mosquito Control efforts have curbed dengue outbreaks. Some in wall street worry about the effect of travel on the caribbean. Airlines are offering options to travellers who want to change tickets due to zika. American said its too early to tell what impact zika could have, that it hasnt seen a Material Change tonight bookings because of the virus so far. Another group is cruise lines. The caribbean is a key location for cruise companies. For carnival the region accounts for onethird of passengers. Stocks of carnival, royal caribbean, and norwegian have had a tough start to the year. While theres no treatment or zooeks for zika available now, work is under way. We have the capability of moving quickly to get a veekds candidate into phase 1 Clinical Trial to determine if its safe and if it induces the immune spont youd predict would be protective. Reporter he said the vaccine likely wouldnt be ready for several years. The best bet, officials say, is to protect against mosquitos. For nightly Business Report, im meg terrell. Taking a swing. The Big Industrial company that is helping build a better golf club. Heres what to watch next week. The government releases the unemployment record friday. January auto sales due out, it will be the first report that comes off that record 2015. Another busy week for earnings. More than 100 of the s p 500 companies, three dow components will report. And that is what to watch next week. Its known as the major of the golf business. And the super bowl for golf equipment. Its the annual pga merchandise show in orlando, florida. It ranks among the highestprofile event in the industry and for good reason. Dominic chew was there. Reporter its the whos who of the golf business. More than 1,000 companies are on display and over 40,000 attendees are expected to wander through the Convention Center floor. Everyone trying to get a glimpse of the latest and greatest in gear and apparel. I think the innovation for this year on the equipment side, were seeing customization or personalization what is we call it. Were able to do that through the king family and its really tuning that product to the golfer where theyre going to pick up the most benefit. Reporter technology plays a big role in the development of golf equipment. Some Companies Even use partnerships with huge Industrial Companies to further their cause. One of the cool partnerships that weve really had for many years is our relationship with boeing. And, you know, its really expanded in multi levels across the organization. But this last year, we partner the with them to make our equipment better. Reporter all of this cops at a time where the game of golf is at a crossroads. The economy is showing signs of slowing but there is a sense of optimism in the game. Pga of america, were incredibly excited about 2016 which for us is a truly unprecedented year. We have such an energy in golf right now. Reporter theres a lot of buzz here at the pga merchandise show. But the real question now is will that buzz translate into realworld gains on the fairways and greens . For nightly Business Report, im dominic chew, orlando, florida. Before we go, lets take a look at today and maybe not so much the month on wall street. The dow rallied nearly 400 points. Nasdaq climbed 107. S p 500 added 46. Thats the good news. For the month, it wasnt so good. It wasnt pretty at all. The major indexes fell more than 5 . Goodbye january. Goodbye january, exactly. Have a great weekend. Thats nightly Business Report for tonight. Im sue herera. Im tyler mathisen. Have a good week, well see you monday. Gwen will donald trump run the table . Thats the question on everyones mind as iowa prepares to vote. We take you there tonight on washington week. The republicans at war on the debate stage and off. This is the lie that teds compape is built on. That hes most conservative guy and everyone sells a, you know, everyone else is a rino. Chris, the last four questions have been rand, please attack ted. Marco, please attack ted. Chris, please attack ted. Jeb, please attack ted. For me personally a good thing, a bad thing, will i get more votes, less votes . Nobody knows. Gwen the democrats go head to head as well. If you will stand up for me, at the caucuses next monday, i promise to stand up for you every single day as president. Experience is important. But