Im seema mody in for sara eisen. Good morning. The big story that has everyone buzzing, alabamas dramatic overtile win ovove overtime win in georgia. More on that story coming up but congratulations to them. Commiserations to the losing side first, lets get back to the market picture we did have plenty of record highs intraday yesterday but not all record closes. The dow did close slightly lower for the day. The s p and the nasdaq were slightly higher. The nasdaq led the charge, up 0. 3 gains were slight but they were broad, 9 out of 11 s p sectors were higher. Utilities were the best performing of them and that highlights the boring fle ing n the outperformance tenyear treasury note for you, yields rose yesterday as they were towards the end of last week we have crossed 2. 5 the elusive barrier out of the 2. 4s 2. 5 bangon this morning the shorter end of the curve has been rising fast yields up which supported the dollar but the shorter end leading the charge higher. In asia, mostly positive session overnight. Japanese stocks closing at a 26year high theyre closed for a long weekend but opened in positive territory. Some news out of the bank of japan, trimming its bond buying program. We did not see as Much Movement on the stock market on this news, but in the currency market south korea the loser there, closing down 0. 2 . We should point out samsung, the big mover today. It did report earnings which came in weaker than expected that stock down 2 lets look at early trade in europe interesting Economic Data to point out. German industrial growth, strongest level since 2011 further signs of an upbeat economy. In italy, unemployment falling more than expected this coming in four months ahead of their Regional Election the dollar moved higher yesterday, almost half a percent for the broad index. Its strength continues today the euro is down around a quarter of a percent against the dollar the pound is down 0. 3. The yen is moving the opposite direction. The dollar is higher against most currencies today apart from the yen. Bitcoin prices for you, we did see a bit of a pull back yesterday. Continuing today, albeit slight compared to yesterday. We are below 15,000 for the price of bitcoin the ongoing unrest in iran continues toprovide support fo oil prices which are trading at around a threeyear high wti crude, 61. 94, ice brent crude, 67. 91, up a similar amount looking at gold, a bit lower last time i checked 1,316 lower by 4 on the day theres a pair of economic reports on todays wall street agenda the nfib puts out its monthly Small Business survey at 6 00 eastern at 10 00, job openings and Labor Turnover survey. Well hear from minneapolis fed president neel kashkari, a Voting Member this year. Stocks to watch, samsung is forecasting a 64 rise in Fourth Quarter profits on continued demand for memory chips. That guidance is below estimates. The strong yuan and yearend bonuses hit results. Samsung will report detailed earnings at the end of the month. It slipped 3 this morning it had a great year last year. Mainly because of its chip business shares of altice are higher after the Company Announced plans to spin off u. S. Operations the Telecom Provider will pay a 1 1. 5 billion Cash Dividend prir to separation and launch a 2 billion buyback of u. S. Shares after the spinoff. Up 5 . British American Tobacco says the new u. S. Tax rules will boost earnings by 6 in 2018 the changes will also result in a noncash tax credit stemming from the reevaluation of def deferred tax balances from its acquisition of reynolds. Urban outfitters says samestore sales fell 1 in stores during the holidays, even as online sales grew the retailer behind brands like anthropolcy and Urban Outfitters did note tight controls will lead it with clean inventories going into the spring season. Seagate forecasting Second Quarter revenue above analysts estimates. Shares rose 7 in regular trade yesterday on a post by value street research. Its a small blog claiming that the company had invested in cryptocurrency ripple. Ripple moved in the opposite direction yesterday. Down by 30 . Shares of gopro down again today. The stock fell as much as 33 yesterday after the company cut its Fourth Quarter outlook and announced layoffs. It paired those losses after cnbc first reported it had hired jpmorgan to explore a possible sale gopro says it is not actively engaged in talks. Mercks ceo ken frazier speaking out on everything from drug pricing to tax reform to his public fallout with trump. Kate rogers has more lets start with his comments on drug pricing speaking at the Jpmorgan Morgan health conference, ken frazier telling cnbc the current rebate system for drugs is in serious need of an overhaul. I think thats really broken, if you want to call it that, those rebates are not passed on to consumers, as is the case with hospitalizations and with physicians visits. So we think what we have to do is get some of those rebates which are the product of intense negotiations with the supply chain on to the people who need it at the pharmacy counter frazier also talked about the impact of tax reform on merck. It will allow us to compete on an even basis with our exu. S. Competitors. As it relates to capital allocation, i dont think it will change a lot in the immediate future well continue to spend money on the science as weve always done well build plants, well hire people where business expands. Frazier also talked about his public fallout with President Trump after resigning from the council, prompting President Trump to tweet now that ken frazier of merck pharma has resigned from president S Manufacturing council, he will have more time to lower ripoff drug prices. Heres what he said. We continue to work with congress and the administration on working for patients. We continue to work effectively with the administration as well as with congress on those issues were you surprised or insulted when the president got personal no, i cant say i was surprised. You know, i made my statement and the president made his statement in response. Checking on merck stock, its down more than 6 since President Trump was elected. Its currently flat. Back over to you thank you very much for that. On march 28th, cnbc will host our first ever Healthcare Conference, its called healthy returns, investing in Healthcare Innovation it will feature top government officials, ceo and investors in the shortterm, today, the jpmorgan Healthcare Conference continues. And cnbcs coverage will continue. Were just Getting Started on Worldwide Exchange. Still ahead, easing tensions the big headlines out of the rare talks between north and south korea. Were live in seoul with the latest and finding red hot returns in freezing cold temperatures. How the cruise industry could get a big boost from the winter chill. Stick around Worldwide Exchange will be right back what we do every night is like something out of a strange dream. Except that the next morning. It all makes sense. Fedex powers Global Commerce with vast, farreaching networks. Deep knowledge of industries. And, yes. Maybe a little magic. Welcome back lets get you up to speed on the market action. U. S. Equity futures are pointing higher yesterday we saw record intraday high for the indices, but not closes for all three this morning dow is up 33 points 8 for the nasdaq, s p up 1 oil prices which were up about a half percent yesterday, following the 1. 5 gain last week, are up again today, a third of a percent in Global Corporate news, alibaba founder jack ma says the company will consider listing in hong kong. This comes as hong kong is allowing jewel class share listings were following a developing story on the Korean Peninsula as north and south korean officials sit down for a rare facetoface talk cnbcs chery kang is live in seoul with the latest. Over to you. Reporter thank you very much so north korea is on an ultimate Charm Offensive this year. Its almost hard to keep up with this speedy transition in the mood on the Korean Peninsula first north korea says it will send a team of athletes and cheer leaders as well as high level officials to 2018 Pyeongchang Winter Olympics happening in a month from now. This comes after north koreas top point person to the talks this morning said that maybe the two koreas should work hard to give all of koreans both in north as well as in the south a very precious first gift of the year at this point we dont know how north korea will respond to south koreas demands or requests for military talks as well as the reunion of families that have been separated by the korean war we did hear that the two koreas decided to reopen the military Communication Channels as well so a lot of hotlines being reopened in 2018 so i think its safe to say that the two koreas could be in that direction. Of course the real question is how will the Trump Administration react to all of this guys thank you very much for that. In just one month south korea will host the winter olympic games. The north korean threat looms. Eric is here with more on that angle. We are one month away from those opening ceremonies, and ticket sales are not pacing at where they have been at past games. Two weeks ago the committee reported only 61 of all tickets have been sold thats 655,000 out of 1. 1 million tickets. Figure skating and ice hockey tickets are less than 60 . We talked about the tensions between north and south korea. Some suggest the 1988 summer games in seoul had more risk from north korea in recent days the two countries added a hotline phone to ease tensions, the u. S. And south korea said they would postpone military exercises until after the games end. Other experts think the lack of sales are about the quality of the games. One reason, the hockey tournament wont have many of its best athletes, because the nhl decided not to send players, and theres no russia. The whole country was kicked out of the games, but citizens would have been a big source of nearby visitors if hockey was more popular, perhaps we would see stronger ticket sales for the olympics . If hockey had nhl players coming its a popular sport a bigtime tournament there. But the nhl said were not sending any of our player the. Thats generally a lot of the worlds best comes back to the debate around summer, that i dont think soccer should be an olympic sport, because the best players are not there. Thats right. Its becoming an under 21 tournament a College Tournament frlt sn so snowboarding is number one . Figure skating number two what what is this based on a Google Search alpine skiing, the downhill one, the scary fast one, that was in the 8 0s the oneman head first bobsled is the most exciting to watch. Also terrifying. The thought of doing it. Skeleton is what its called skeleton. Versus curling. Curling, thats the one that airs on cnbc you have to make sure you get that out there 4 00, 5 00, they do curling the whole afternoon. I like it theres a lot of geometry there. If you ever watch it, they do the sweeping, the angles, the curves you watch the guy. Kelly and i spent two hours watching the finals of the u. S. Championship entertaining night. The love of geometry is a good geeky reason to watch curling. You can curl in brooklyn. That feels very brooklyny to do eric, thank you very much happy to be here. Still ahead on Worldwide Exchange, the fallout continues from that bombshell book about the trump white house. Were live in washington with details. And roll tide. More on alabamas big win over georgia in last nights College Football championsp gahime this is what our version of Financial Planning looks like. Tomorrows important, but, this officially completes his education. Spend you life living. Find an advisor at northwesternmutual. Com. Your bbut as you get older,ing. It naturally begins to change, causing a lack of sharpness, or even trouble with recall. Thankfully, the breakthrough in prevagen helps your brain and actually improves memory. The secret is an ingredient originally discovered. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. The name to remember. Welcome back to Worldwide Exchange. Im seema mody alongside wilfred frost. Heres a look at markets futures pointing to a higher open dow up 30 points in the premarket trade. Nasdaq higher by 7 s p 500 up by 1 point. Yesterday the dow did manage to hit a fresh alltime intraday high a look at the bond market which will get some attention today. Breaking 2. 5, or trading at 2. 5. The tenyear note below that level, but it was at 2. 5 a few moments ago. It was bangon it it sure was Many Americans may be dreaming of the warm sun and surf after being cooped up during the deep freeze that hit much of the country over the past week. Could an uptick in vacation bookings give a boost to the travel and leisure sector. Joining us is patrick shoals, lodging and leisure analyst at sun trust equity research. Good morning help us understand what does cold weather mean for the cruise players . Do people want to take a cruise when its outside . No, they want to take a cruise you hit on a hot topic at the moment and were in whats called wave season which is the heavy booking season certainly cold weather, especially in the northeast it incentivizes people to pick up the phone, call a travel agent and book a cruise. What about the what about the effects of the hurricanes in 2017 has that had an impact on ticket prices no. We saw a shortterm hit to demand, that was back in september. Its bounced back since then really the only place weve seen it hit is in the landbased hotels many of them unfortunately are not open yet many are starting to come back online one thing about cruise lines, youre notstaying in the hotel as long as the dock is open, youre staying on the cruise ship itself. Those are up and running does this cold weather help or hinter skiing holidays and skiing resorts given that clearly you need good snow but you dont want it to be arctically cold. I just came back from colorado myself. I wouldnt say it has been a great snow year. Its really dependent on snow as opposed to temperature unfortunately this is for most resorts out west, especially colorado, its going to be a year which theyll struggle a bit due to seasonally or low snowfall. Which Hotel Operators would you say benefit during the winter ski season . Its typically going to be your resorts some hotel reits out in veil it will be more of the higherend ones. Like the marriott or hilton. But keep in mind, u. S. Ski resorts really for hilton or marriott are less than 3 or 4 of their total revenue airbnb, a lot of vacation inventory last time i looked at park city. Thank you very much for joining us thank you we have a big interview coming up on cnbc. Fire and fury author Michael Wolff is sitting down with the squawk box team as the political fallout continues from his bombshell book thats 8 00 a. M. Live on squawk box. Tracie potts is live in washington with the latest wrapup of all things going on there. Good morning, everyone. That has raised a lot of questions about who had access to the president , but looking forward there are new questions about who will have access to President Trump in the russian investigation. President trump promising to get Rural America online you are going to have great, great broadband. Focusing on the economy and football, while lawyers focus on whether hell be questioned in the russia investigation hes the president of the United States. If he doesnt testify, the inference is hes guilty i think hes stuck between a rock and a hard place. I think this goes poorly for him, if he avoids it its a disaster reporter three sources familiar with the matter tell nbctrumps lawyers are in discussions about where he will be interviewed, about what, and how, in writing or in person with special Council Robert mueller. He will want to test the recollection of mr. Trump they want to push some buttons. Reporter raising concerns about how the president might respond. He will go off script he is very hard to control just so you understand, theres been no collusion. Reporter a grand jury subpoena could also be an option the author of the book about the white house insists he was there regularly. I was in the white house all the time. Reporter a white house plagued by questions about who has access to the president. If that interview happens, that russia interview, it will happen in weeks now the white house is still dealing with the fallout from fire and fury. You heard a bit of Michael Wolff there. More coming up today on squawk box, as you mentioned Michael Wolff has been adamant that hes got records, recordings, and notes to back up what he wrote about in that book tracie potts, thank you very much for that. What happened to the Capitol Building its there. They turned the lights out its very foggy here, it was hard to see any way, and it looks like they turned the lights out im floating in a sea of black, but the capitol is still behind me excellent news, thank you very much for that still ahead a round up of the top headlines, and another check on global markets. And a failure involving spacex and a Spy Satellite that has everyone talking this morning. Full details when Worldwide Exchange retus. Rn you cant predict the market, but through good times and bad at t. Rowe price weve helped our investors stay confident for over 80 years. Call us or your advisor. T. Rowe price. Invest with confidence. The record rally continues on wall street with the nasdaq, s p 500 and russell 2000 sitting at alltime high. How a top secret Spy Satellite was destroyed on board a spacex rocket. And roll tide, more on alabamas big win over georgia last night commiserations to kayla tausche. Its tuesday, january 9, 2018 and this is Worldwide Exchange on cnbc. Good morning a warm welcome to Worldwide Exchange on cnbc. Im wilfred frost. Im seema mody in for sara eisen. Lets check on global markets. Another record setting day for wall street with the dow, s p 500 and nasdaq hitting new record highs the dow failing to close at that level, breaking a fourday winning streak look at where futures are setting up for todays trade dow up 36 points nasdaq higher by 9 s p 500 is higher by 1 point in premarket trade. Look at the bond market. We were trading at 2. 5 , the tenyear yield, right below that level. Certainly something to watch in todays trade. The bank of japan trimming the bond buying program. We had a little bit of data out of japan real wages rose 0. 1 , expected to decline 0. 1 . So flirtation with signs of inflation coming back. The nikkei is up 0. 6 . Mainly gains in asia, not as strong as last week. European trade for you, positive, slightly less than half a percent of gains. Not anymore. Italy and france extending early gains. Germany, the ftse 100 up a bit less than that interesting gate ta odata ou germany, german industrial growth strongest since 2011. Lets see how global currencies are reacting to this positive data out of europe the euro lower against the dollar 1. 19 the greenback weaker against the yen at 112. 85. Looking at bitcoin see where its trading weakness yesterday, it was down as much as 8 . Lower today as well. Trading below 15,000. Oil was up a half percent yesterday. Adding to the gain it saw last week this morning up a third of a percent. 6 1. 90 for wti gold prices broke an 11day winning streak yesterday small but consistent gains slightly lower yesterday and again today. 1,315 the price of gold. Lets talk more about markets and the strength of the economy. With us is paul sheared from s p global lets talk about the u. S. Economy. Fridays jobs print slightly underwhelmed on some marks since then we have seen the dollar strengthen, yields rise as well. Thats an encouraging reaction is it a sign of things to come i think were looking for growth to continue this year since the financial recession ended, growth has been stuck around the low 2s. Last year probably 2. 3, ticking up a bit with this tax package coming through now, late cycle fiscal stimulus. We bumped up the forecast to about 2. 8 a lot of positive Economic Data or indicators out there inflation consistently undershoots 2 , that critical target put in place. Does that change for 2018 . I dont think it changes fundamentally. The real interesting point now apropos of the feds deliberations, what is the speed limit for this economy we get a bit of fiscal stimulus now, we have accommodative Monetary Policy. Will that lead to inflation picking up, which is the normal economic rulebook, if youd like moving up from 1. 5, 1. 6, up closer to 2 or does it just lead to a stronger labor market . Maybe the Participation Rate thats been depressed now for a number of years starts to turn around stronger labor market or stronger inflation if we look at the international picture. Global growth surprised positively on the upside last year theres encouraging data coming out. Germany, japan is that now priced in, do you think . Is the extra boost that we got to the u. S. Last year not coming through this year . Well, im an exist not a strategist so ill dodge the question how much is priced in looking at the s p 500, it looks rich, if youd like. Global growth is looking strong, synchronized firing on all cylinders might be too strong a term. But markets continue to look further ahead of the horizon what does it look like 2019 and 2020 thats where the market will focus now. With global growth, Central Banks rethinking their qe program, specifically bank of japan announcing they are trimming their purchases of government bonds is that a worrying sign . I dont think so. The bank of japan is interesting, they put in new framework in september of last year, quantitative and quaul ta itative easing one is trying to get the 2 inflation rate the second element was commitment to expand the Balance Sheet. And previously that had been about 80 trillion yen, 15 of gdp. Thats what they started to trim back here. That happened over the last few years. So theyre validating what had been the practice of Monetary Policy not really a major shift per se. In terms of coming back stateside, were approaching the last fed meeting for janet yellen how do you look at her tenure . Would have to give her high marks when you look at what she did. When she came in, you had that bernanke era Forward Guidance about keeping Interest Rates at zero until the Unemployment Rate came in at 6. 5 . First thing she did was take that away, finished the tapering, five Interest Rate hikes and has begun the Balance Sheet unwind inflation is the thing that has not ticked up yet. But that should be coming over the medium term horizon. High marks would have to give janet yellen paul, thank you very much mercks ceo ken frazier speaking on on everything from tax reform to the fallout with trump. Lets get to kate rogers speaking at the jpmorgan Healthcare Conference, ken frazier telling cnbc that the Drug Rebate Program is in need of an overhaul i think thats really broken, if you want to call it that, those rebates are not passed on to consumers, as is the case with hospitalizations and with physicians visits. So we think what we have to do is get some of those rebates which are the product of intense negotiations with the supply chain on to the people who need it at the pharmacy counter frazier also talked about the impact of tax reform on merck. Heres what he said. It will allow us to compete on an even basis with our exu. S. Competitors. As it relates to capital allocation, i dont think it will change a lot in the immediate future well continue to spend money on the science as weve always done well build plants, well hire people where business expands. Frazier at addressed his public fallout with President Trump after resigning from the president S Manufacturing council, that prompted the president to tweet now that ke frazier of merck pharma has resigned from president S Manufacturing council, he will have more time to lower ripoff drug prices. Heres what frazier told meg tirrell in response to that. We continue to work with congress and the administration to try to do whats good for patients there are real issues out there for patients there are real issues for our economy, jobs, innovation. We continue to work effectively with the administration as well as with congress on those issues were you surprised or insulted when the president got personal no, i cant say i was surprised. You know, i made my statement and the president made his statement in response. Checking on merck stock, its down more than 6 since President Trump was elected. Its slightly in the green in the premarket. Thank you cnbcs coverage of the Jpmorgan Morgan Healthcare Conference continues today special guests are the ceos of johnson johnson, allergan and on march 28th, cnbc will host healthy returns, investing in Healthcare Innovation. It will feature top government officials, ceos, investors go to cnbc . Com healthy returns for tickets. Still ahead, the mustreads and a dramatic finish. Alabama clinching the National Title with an overtime win over georgia. As we head to break, heres the National Weather forecast from bill karins good morning to you. Finally after two weeks of subfreezing systems, new york city is at 33 degrees. The slow snow melt will begin. Middle of the country is even warmer today temperatures will be 10 to 25 degrees above average denver, 65 Degrees North dakota, minnesota, wisconsin all warmer wednesday, chicago near 50 degrees, same with cleveland finally we get our relief after that brutal cold stretch that lasted since christmas this weekend, look what happens. The cold air comes back to des moines we have a huge rain storm in California Well have to wait and see how bad it is on those burn scars. 17 Million People under flash flood watches. No travel issues in the northeast. Watch out for fog and florida rain more Worldwide Exchange when we come back welcome back to Worldwide Exchange. Time for todays top trending stories. Kate rogers is back with whats buzzing. Good morning good morning. A highly classified u. S. Government Spy Satellite looks like its a total loss after being launched on board a Spacex Falcon 9 rocket. Lawmakers have been reportedly briefed about the destruction of the secret satellite which was code named zuma. The secret cargo is suspected to have failed to separate from the upper part of the spacex rocket. Spacex says as of right now reviews of the data indicate falcon 9 performed nominally meaning fine, but not great thats what happens with spacex i guess probably falls on spacex i dont know i wonder how the contracts are we dont know. Its not listed. Slow steps. Slowly making progress, i guess. The weekend is also cutting ties with h m over an offensive picture. It features a black child model wearing a hoodie with the phrase coolest monkey in the jungle the singer said he was shocked and embarrassed by the photo he said im deeply offended and will not be working with h m anymore. The hoodie will not be for sale in the u. S still for sale elsewhere that implies. Which is kind of crazy shocking they wouldnt entirely get rid of it. Seems shortsighted and clearly offensive to many. Pink is headed to the super bowl the pop star will perform the National Anthem at the big game. Pink joins the ranks of lady gaga, luke bryant, Kelly Clarkson and alicia keys what is more prestigious, that or the half time performance thats the show you want. It must be prestigious to sing the National Anthem. Any vovrme meinvolvement is deal i prefer the half time show especially beyonce. That was the end all be all i did not feel cool enough to watch her and bruno mars together you heard this song, right of course well, Camila Cabellos havana has ruled the chart for seven weeks and its the longest run atop the pop charts for a lead female artist the last time this happened was in 2013 when taylor swifts i knew you were trouble commanded the top spot for seven weeks the only one to do it more was rihannas 2007 we found love. Im surprised six or seven weeks is enough to win that fiveyear best performance back in the day, when it was simple you could buy a record or not, i feel like you had songs stay at the charts for much longer so six or seven wouldnt be enough to get accolades. Apparently president obama when he was interviewed by prince harry said that was his favorite song. Trendy man he is. Kate, thank you very much for that switching focus to sports. Congratulations go to the university of alabama after the Football Team beat georgia in dramatic fashion to win the title. Alabama wins its 11th football title and the fifth in the past deca decade epic sell break celebrations the time for our mustread stories. I will start my pick in the new york times, its titled how not to engage with pakistan. Penned by richard olson. He writes as u. S. Aid levels diminished, reflecteding bipartisan unhappiness with pakistani policy aid from the chinese increased. China invested around 62 billion in pakistan infrastructure under the china Pakistan Economic core bore, a corridor of the one belt one road initiative. Its magnitude and transformation of pakistan dwarf anything that the United States has undertaken the ambassador goes on to say if the United States would like to make progress when it comes to pakistan and pushing them to crack down on terrorism, working with china will be a big factor in all this. Amazing the level of influence china has had in many of these regions africa and pakistan. Not so much india because of the friction there, but increasing the footprint in those places. Mine is europe listens anxiously as germans talk in the new york times. The Editorial Board referring the Coalition Talks between the social democrats and merkels cdu alliance the parties have vowed silence until they reach a decision expected thursday on whether they have enough Common Ground to started formal Coalition Talks. If they fail, ms. Merkel has two options a minority government or new elections and further delays that that entails. Clearly everyone is hoping they reach an agreement even if they do reach that agreement, that does make the afd, the alternative for deutschland and the far right party the Opposition Party then. They came third with about 12 of the vote. There would be a coalition between the first and two parties it would massively increase the expo picture and wh exposure and their opinion would get more air time and what jit legitimacy in that. I would point out markets dont seem to be taking into account any of it. The dax up 30 now over the last one year very tu were approaching the top of the hour the team is gretting ready for squawk box. Good morning hi, how you are, wilf very good how about you . Im good. How many weeks vacation do you get . Three, four weeks have you ever had an issue where you were trying to get vacation time, couldnt get it, saying i want off, they said no way. No, because the powers that be are wonderful i would never say that liar, liar. Something everyone deals with in corporate america. How many Vacation Days do you have can you take them . We have Patty Mccourt on, the author of powerful. Also the chief talent officer at netflix. They dont have vacation policies, you can take vacation when you want, whenever you want they treat people like adults. They say you have to be responsible for your work. You have to get finished you have goals we expect from you. They pay people what theyre worth. This document is called their freedom and responsibility deck. Sh Sheryl Sandberg said this is the most important document to come out of silicon valley. We will talk about people treated this way, if it works at Big Companies or not or only good for startups i dont like that idea. Im in the mode of making sure i take everybody day im given if it was free, every time we took a day off, people would be like, oh, youre off again, wilf its nice to be treated like a child, then we with act like a child. We have tom freed mrman joinings to talk about north and south korea. Stunning to see this thaw that is taking place so rapidly well talk to him about that and about whats happening with the protests in iran plus, i know you mentioned this earlier today, fire and fury. Michael wolff will be joining us to talk about his book making headlines in so many different places theres a lot of things talked about in this book i would like to delve into some of the issues of the business community, what our viewers have been thinking about, whats happening with gary cohn, his relationship with the administration plus i know youve been talking about the jpmorgan Healthcare Conference meg tirrell is there shell join us with the ceo of lumina to talk about what they see coming up with the industry. Becky, great stuff. Some famous journalists to be interviewed by even more famous wins looki ones coming up, what to watch and where to put your money. As we head to break, a look at the european markets. Green across the screen. Youre watching worldwide chgeonexan cnbc. siren wailing barry murrey when you have a really traumatic injury, we have a short amount of time to get our patient to the hospital with good results. We call that the golden hour. Evaluating patients remotely is where i think we have a potential to make a difference. barry murrey we would save a lot of lives if we could bring the doctor to the patient. Verizon is racing to build the first and most powerful 5g network that will enable things like precision robotic surgery from thousands of miles away. As we get faster wireless connections, itll be possible to be able to operate on a patient in a way that was just not possible before. When i move my hand, the robot on the other side will mimic the movement, with almost no delay. Who knew a scalpel could work thousands of miles away . Jimmys gotten used to his whole yup, hes gone noseblind. Odors. He thinks it smells fine, but his mom smells this. Luckily for all your hardtowash fabrics. Theres febreze fabric refresher. Febreze doesnt just mask, it eliminates odors youve. Gone noseblind to. And try Febreze Unstopables for fabric. With up to twice the fresh scent power, youll want to try it. Again and again and maybe just one more time. Indulge in irresistible freshness. Febreze unstopables. Breathe happy. Welcome back to Worldwide Exchange. Im wilfred frost. Futures are pointing to a higher open, just slight gains for the markets. Phil orlando joins us now. You said what a fabulous start to the year in the break you are enjoying this run up can it continue . It can. One thing we look at is the early january barometer. So the first five days of the year, which we just completed, s p 500 is up 2. 8 over the course of the last 70 years, whenever you have been up 2 or more, you had no down full years. The average, given the way we started, would be up about 18 , 9 19 . Thats a little aggressive that gives us confidence this will be a good year. It truly givactually gives yu confidence when you assess the fundamentals, are you still as confident . We think there will be increased volatility over the summer months, perhaps because of uncertainty over what the fed will do. Certainly the upcoming midterm elections in midnovember. Our 3,000 forecast would imply a 12 gain on a year over year basis. The Historical Data suggests 18 or 19 we are more conservative than what the history would suggest isnt that based on the most optimistic interpretation, and also this idea that when tax reform is passed through, that will be a positive for the economy . We had a constructive view all along. We had a view that tax reform would happen we have taken our estimate for corporate earnings for this year up from 140 to 150 based upon tax reform last year was going to end about 130 were anticipating a 15 return. Given the benign nature of things, a 20 multiple is appropriate. So we are looking for multiple expansion and a nice 15 gain in earnings very, very bullish outlook that you got what would worry you certainly things out of washington we talked about the transition at the federal reserve, in terms of policy and leadership certainly the midterm elections. How ugly will that be in the summer we are seeing oil trade at a threeyear high on this unrest out of iran. What do you make of Energy Stocks here . We are in love with Energy Stocks at 40 last summer, we thought we would see a 50 move up to 60 at the end of last year. Thats where we are. Supply and demand are priced better in the market we think Energy Stocks along with financials and industrials and material stocks, the socalled value categories are the places to be in the large cap market this year phil, thank you very much thank you futures pointing to a slightly higher open after small gains yesterday for the s p and nasdaq squawk box is coming up next including Michael Wolff at 8 00 a. M. Dont miss tt. Ha thanks for joining us on Worldwide Exchange. Oh, thats great sarah. Lets talk about this when we meet next week. How did edward jones come to manage a trillion dollars in assets under care . Jay. Sarah. So i have a few thoughts on that early retirement. By focusing our mind on whatevers on yours. Good morning, feels like deja vu all over again futures pointing to a higher opening with the s p and nasdaq already at record highs. On the agenda this hour, new data on Small Business optimism. Korean thaw. New reports on progress on talks between the north and the south. And an Unlikely Hero in last nights College Football title game between bam mra aalabama a georgia. Well tell you how a backup quarterback made the difference in overtime. Its tuesday, january 9, 2018. Squawk box begins now. Live from new york where business never sleeps, this is squawk box. Good morning were live from times square weve been watching the ekky fu. Yesterday we saw a slight decrease for the dow, but new records for the s p and the nasdaq this morning green arrows at this early hour with the dow futures indicated up by another 34 points. S p futures indicated up about one. The nasdaq up clos
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