Indicated up about 40 points yesterday, we did see compressed yields higher prices for treasuries 10year at 1. 36 the twoyear at 1. 7 in japan, the nikkei falling over 300 points. The bond market won, so we are going to have our friend on today. He always says it is going to be because of slowing growth. He seems to get a little bit serandipitus about it. Ill give him credit. The slowing growth caused whatever caused the slowing growth gold is up. Stock market ignores things until it doesnt hope depot might help. Stock called sharply higher after reporting better than expected results i got a 242 bid, 242. 50 bid now. Right . 228 is 18 cents above estimates. Whatyou are seeing there does not reflect what we are seeing samestore sales up 5. 2 , which is strong. Consensus is at 4. 8 home depot announced a 10 increase to 1. 50 a share you can figure out the yield will double every seven years. Joining us with immediate reaction, the bottom line beat is big the samestore number is better. Thats a pretty big beat i read quickly across the board, a very good report. This came and there has been a lot of talk about unfavorable weather. With Home Improvement, there is a bit of an offset there this warmer weather has done a 52 comp with that Housing Market getting stronger. We are putting up this kind of quarter in q 4 which is important for spring into the warmer months. Warmer weather, people buy snow shovels every year and salt, so it does impact results when it is a warmer winter why doesnt it allow for remodelling in the winter . It does presumably people are doing projects in the winter they dont in the summer. Your projects involve bed, bath and beyond. You are in the city. What projects do you do in the city im talking about my multiple homes it takes a team of people. No, seriously appliance companies, other things for home depot. How does that affect those companies . If home depot is doing a 5. 2 comp, the product they are selling is coming from these suppliers. So they are benefitting as well. Definitely there is a lot of concern right now about coronavirus. Here, the big positive is these lower rates. We got a trade and took it down bring it back up, please we finally got a trade up 1. 1 . That should have boosted the dow. The dow is having trouble this morning. I guess well see you tomorrow talk about lows do you think this reads positive i think it does it seems is that home depot is doing well in this environment there is nothing to suggest that they did something smeshl on its own. Just looking at shares and it is a wait and see. Well see you tomorrow. It will be tough to beat that jacket tomorrow. It is tough to beat that jacket. I got vertigo. Did you shoot a couch . You are jealous because he has a jacket i brought a jacket today. People to go, places to see. The fall out from the coronavirus outbreak well bring you the live report from china where the government is urging citizens to return to work even as the virus spreads in south korea and italy and stock futures right now looking like the dow would open up by 21 points higher, s p off slightly we are back in just a moment announcer todays big number, 26 . Thats how much the s p oil and gas xop has tumbled. Yesterday was the worst day since august of last year. We see heating breakthroughs clearing the air for billions. At emerson, when issues become inspiration, creating a better world isnt just a result, its a responsibility. Emerson. Consider it solved. Wthats why xfinity hasu made taking your internetself. And tv with you a breeze. Really . Yup. You can transfer your Service Online in about a minute. You can do that . Yeah. And with twohour Service Appointment windows, its all on your schedule. Awesome. So while moving may still come with its share of headaches. No kidding. Were doing all we can to make moving simple, easy, awesome. Go to xfinity. Com moving to get started. Welcome back master card shares falling after hours warning the coronavirus could hurt First Quarter revenue by two to three Percentage Points selling lower cross board travel and he commerce growth expected there as well. Shares of moderna rising sharply after reporting it shipped the first batch of the Coronavirus Vaccine to researchers expected to start a Clinical Trial of 20 to 25 Healthy Volunteers in april. Well see how that goes. Phase one testing it is but the stock is up 19 based on the testing i saw another company you have no idea you need to hurry. Moderna. Mode rna thats why it is called that anyway the latest, the cdc is raising the threat level in south korea and warning americans not to travel there as it remains the biggest hot spot outside of china a cabin crew for korean air has tested positive for the virus. The detailed routes flown have not been made public yet they plan to test more than 200,000 members of a church at the center of the outbreak there. In italy, imposing restrictions on hundreds of thousands of people Paramount Pictures has halted production of Mission Impossible 7 starring tom cruise that had begun a shoot in venice. Going to eunice now. Good to see you. Good to see you too the country has a long way to go to get back to work as business as usual authorities have said the resumption of work isnt ideal the ministry of Information Technology and industry said the resumption of work at small to Medium Size Companies is only at 30 . Transport Ministry Said projects have stalled for railways, airports have yet to recover a lot of those are done by Migrant Workers who have either not been able to travel or reluctant to travel. The authorities will continue to ban flights in or out of Hubei Province schools have extended their close yo closures campuses will stay shut while students can continue to study on line. With cases jumping in south korea, the Chinese Government is interested in sharing its experience with handling this crisis with the south koreans and japanese, it also at the same time, some local authorities have started to adopt stricter measures at korean communities here in the popular communities that they want to avoid imported virus cases. The people there will face a quarantine as well as other measures one other update is about the wall street journal reporters, the three who had been kicked out. Two of them have left the country. Josh chen, he tweeted out, now out of china, cant express the depths of my gratitude to support. He posted a video of his and philip wens last view of beijing. Now wondering what the u. S. s response could be. There has been some response that the u. S. Could concern booting out chinese journalists. As people get back to business, what does that feel like on the ground you feel that there is more activity on the streets, more people in shops but it is definitely not at the same level as youd expect. One of the concerns here is once you start to have a flood of people coming in, do you start to have more outbreaks of cases . That is the main concern have they relaxed how difficult it is to go in and out of your housing complex . No, no. It has gotten worse here again i just noticed today, we are only allowed to have four people inside the elevator. That was posted today. The restrictions keep getting higher even though authorities here want the Economic Activity to rise as well back to the selloff the numbers are startling. Yesterday was the dows worse day in two years dow and s p are in negative territory. The market loss was at 927 billion in one day going to our guests now. Here is the question becky tried to ask it yesterday of warren. Hes such a longterm thinker, he doesnt always talk about the day to day issues. If you are an investor and you have cash on the sideline, are you supposed to wait or go in now, the lows are in how do you begin to think about this i would say off the peek, we are down a quarter percent 14 months ago, we were down 20 if i was a longterm investor . Yes you dont even i would take a pe cash aside and put it to work. Start putting money to work as the opportunity comes. Youll get preannouncements. It will happen travel industry and industrials will come out and say, we dont know how this will work. Buy highquality put your cash to work. 5 could easily go to 10 all of these warnings they dont know what the warning is half the time look back at the cycle 10 to 15 years s p going to ebola to sars if you are looking out 10 years, you could weigh down 15 not, i need this money we are looking at particularly gdp slowing this year that was going to happen whether the coronavirus occurred you had it up again 3. 5 in february up until a few days ago. You are looking at 5 to 8 return for the full year you should expect a breather that was your expectation to begin with we are seeing a slowing economy this year. 5 to 8 would be a lower return last year at length, the reason the market went up is from expansion i think a lot of that is off the table. You are looking now at 2021 for some Earnings Growth the opportunity to buy is now. You hope when things flat line and start growing. Is there anything interesting in look at health care stocks, that could be something that some of the stocks like zimmer for the hips j and j, the slight dislocation there, you want to be new value there. Do you think anybody is getting a new hip if we have medicare for all when you look at countries like that, im not talking insurance companies. That made no sense unless unless what unless you can tie that to bernies 60 minutes appearance uhoh, im talking politics. A sanderswarren ticket is up above trumppence. Would you touch something in the middle of this an airline we own delta. It is at 53, off almost 20 . Maybe thats the opportunity. Go buy expedia now i like delta a lot. Investment grade id start nibbling on it not saying go buy your positions. Secure dividends look for Companies Like that that you can get the opportunity. I think the thing you should do is to have a shopping list. Dont try to go around shopping whatever was down yesterday. Do your homework ahead of him that have growth and when they hit your targets, buy them when we look at home depot and lowes, strong numbers and housing. Begin to nibble. Same thing with visa even though some are up this morning . If you are seeing stocks at reasonable valuations, start with the quality you are looking for rather than try to pounce on whatever shiny object is catching your glance at the moment thank you appreciate it. Coming up, if you hate waiting in line at the Grocery Store check out, amazon has some good news for you. Looking at the big losers in the european markets all down 5 since yesterday morning. Well be right back. now you can, with shipsticks. Com no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. Sending your own clubs ahead with shipsticks. Com makes it fast easy to get to your golf destination. 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Set to open amazon go grocery. About four times of space as the Convenience Store targeting customers in residential areas no cashiers or checkout lines at all. You need the app i have it. Ive been to the other one pretty extraordinary it is spooky you literally walk in and take what you want and leave. Did you look back and see if it charged the right amount . It did. There are thousands of cameras on the ceiling how many workers are around watching you do this very few. Hardly any that was the miraculous part you walk in, it knows who you are. Even when i go to the store and i scan every item myself, it messes up. I dont know. I think they are catching it as you are taking it off the shelf. Then that is good you are there by yourself and not with a couple of kids trying to stuff stuff in and out of the cart they have not perfected that. This is a thousand times more sophisticated and probably cost them a thousand times more to do it juul planning to unveil a new version of the e cigarette a locking device that would link to a smartphone via blutooth and would only unlock when using a photo and government i. D i dont know how that would work my kids can hack into any one of my systems you can show an i. D. Is it okay to write all of your pass words down no. And it is not okay to make password with two fives for ss i use a combination of my char children and dogs. Dont say that out loud i make them so complex that i get the highest security, that little bar goes off the charts for how secure yesterday, we were joined by Warren Buffett one thing we talked about is cryptocurrency he has been a critic the founder of cryptocurrency tron and ceo of file sharing company. He tried hard to convince buffett to change his mind on bitcoin. He gave you some bitcoin, how does it feel to be a bitcoin owner . I dont have any bitcoin. You dont okay. You dont own bitcoin no. I dont own any cryptocurrency i never will i may start a war on currency. Maybe ill create one and say there will only be 21 million and you can have it after i die but you cant do anything with it except sell to yourself that created a lot of controversy. Justin said he gave cryptocurrency at that meeting called buffett last night, he did get some cryptocurrency in a wallet given to him but he turned that wallet over to glide, which is the foundation he had been raising money for for that lunchon that he paid over 4. 5 million. All of the money went to glide that bitcoin gave it over to them neither of them was slying justin gave it to him. He was very thankful he gave it to the charity. Warren is not the quickest to embrace new technology no. Hes never bought amazon. No. Hes admired amazon and jeff bezos for a long time. I wouldnt expect warren to look into it closely there are some people that are not complete idiots that might push back on comments made blockchain whether you love or hate bitcoin, there are uses and value to a lot of that stuff why would you talk to fiat man . The point is neither of them were lying about this. The kons versy was somebody is lying here. Nobody was lying yes he said he was grateful. He gave it to glide. He didnt throw it away he knew it had value when we come back, well talk about the selloff on the last big down day. Well ask him if now is the time to strike. As we head to break, lets look at the biggest decliners in the s p and dow. Through the at t network, edgetoedge intelligence gives you the power to see every corner of your growing business. From finding out whats selling best. To managing your fleet. To collaborating remotely with your teams. Giving you a nice big edge over your competition. Thats the power of edgetoedge intelligence. We are up triple digits now. Back on squawk box. Wall street waking up with a black eye this morning after suffering its biggest oneday loss the dow dropping 3. 6 . Now lower for the year what do you calculate last years gain at around 31 . If you looked at the points, it was a shocking number i dont think it made it in the top 50 declines. Up next, well talk to chief Economic Advisor from allianz. On the last down day, he told us dont buy the dip. Well dive deeper into home depots earnings that is a dow component helping things this morning. A reminder, you can watch or listen to us live or on the go on the cnbc app. Well be right back. I got that vibe, got that vibe got that vibe, yeah, i aint petty, looking fly, looking fly, looking fly, yeah, they aint ready. I can shine, i can shine, i can shine. Imma do what im made to do. Imma do what im made to do. Built for excellence. You start from the foundation up. The excellence is reaching dreams and chasing them at the same time. About a month after the initial coronavirus outbreak, advising he would resist the temptation to buy coronavirus dip. The coronavirus is different. It is big. It is going to paralyze china and cannot be counted as we noted by Central Bank Policies i think we should pay more attention and try and resist our inclination to buy the dip joining us now, allianz chief Economic Advisor looking back on those comments, there is still a lot we dont know about this virus, what would you tell people in terms of this stock market caller i would say continue to resist to buy the dip because it worked in the past. As you say, there are uncertainties. One is the short term uncertainties. How quickly can we contain this virus. Second, the longer term uncertainty is what well do to china. What does it do to the process finally, a whole host of uncertainties related to the conditions the Global Economy and markets have been doubled from fundamentals there is a lot of uncertainties out there. I understand the inclination to buy on the dip i understand with expecting the market to bounce up. I stress this is different everything comes down to price throw, correct when you would say it is okay to buy the dip . Is that a 10 pull back, 15 pull back . When you say there has been some value here of course remember, consensus recommendation was not only buy on the dip but buy the markets that have lagged buy emerging markets since the highs, in the u. S. , we are 5 and u. S. Markets are up 10 . Just not at these valuations yet. These are such difficult things to try