Will do what it needs to get more bailout money from brussels. Greece is facing a monday deadline. Athens wants to have a deal approved by next wednesday. They are among the investors backing a bermuda venture seeking to raise 2 billion. They also have plans for an initial topic offering within five years. The dallas fidelis will compete with rivals. Tim cook is slamming the indiana law that could allow businesses to refuse to serve gay people. He says their stores are open for everyone. Gayrights groups worry the act will be used by businesses who do not want to provide services for gay weddings. Gay marriage became legal in indiana last year. We have less than an hour until the close of trading. Lets go to the breaking news desk where scarlet fu is looking at all the action on wall street or perhaps lack of action. Scarlet stocks are attending to and four Straight Days of losses. This is a tame come back. The dow is 25 below the 10day average. In the s p 500, energy, tech, and financials are the biggest drags and the heaviest weighted sectors in the market. Without their participation, you cannot get a broadbased rally going. If you look at treasuries, the final rita Fourth Quarter g. D. P. Shows Consumer Spending was stronger than anticipated. That drove growth. Even so, people were reacting to the headline number which was that the economy grew at a slower than expected rate of 2. 2 . That is partly why treasuries are higher pushing yields lower on the 10year. Oil prices are consolidating after a fiveday 13 gain. We know the back story here. Saudi arabia launching airstrikes in yemen. Fears of an Oil Supply Disruption not necessarily holding. Goldman sachs today put out a note saying the unrest is unlikely to have much effect on Global Supply in the near term and they see a continued increase in inventories in the second quarter. So that is not going to change anytime soon. Alix it adds on transportation costs to the price of oil. We will check back with you later in the hour. New developments are out of the germanwings crash that killed 150 people. French prosecutors found documents in the pilots home it could indicate he was hiding his illness from his employer. Lufthansa was forced to introduce new rules on keeping two crew members in the cockpit at all times. But not all airlines have adopted this rule. For more on this story, lets bring in justin. Take us through the process of what has happened for airlines after this crash. What airlines have changed their policy . Justin there have been quite a few. It has been rapid as far as the big ones yesterday. Air canada, air france said they are looking at it. Air berlin as well. It became a big rush to copy a u. S. Style regulation in the sense of maybe it does make sense to have two people at all times on the flight deck. Alix the other part brings us to the psychological state of the copilot. It seems he was in distress. He has been working with doctors. But lufthansa thought he was safe to fly. Do you think we will see psychological procedures implement it for price the pilots . Justin i think there will be pressure for more frequent ecological exams psychological exams. Most pilots will have annual physicals. The older you are, the more often they occur. The psychological aspects are not quite as rigorous. I think we will see more discussion about whether that needs to happen more often and more in depth screening. Alix does the u. S. Do it differently than europe when it comes to psychological screening like they do with the twopilot rule . Justin every nation is different by region. Another component is the economics of it. Youre talking about higher costs when you talk about more screening. That will be an Issue Airlines will grapple with. I think we will have a lot of discussion about. Alix definitely will continue especially as you look for the motivation behind the crash. Thank you for joining us, justin bachman. I want to move on to Silicon Valley. The monthlong saga could be coming to an end. This is any highprofile example yet of Silicon Valleys boys club. The former junior partner sued the company on being wrongly denied the motion and retaliated against for complaining to her bosses about discrimination. After two days a closing arguments, which side will the jury take . Joining me to discuss is sarah frier from San Francisco. Any word on when we might hear a verdict . Sarah we dont have any word on when it will happen. The longer we wait, we wonder how complicated this verdict is going to be. Is it a clear win for either side . There are so many different counts they have to look at, so many different numbers they have to look at. It is a big task for them. Alix what is at stake for the reputation . We talk a lot about the stakes for her, but what about Kleiner Perkins . Sarah Kleiner Perkins name has already been dragged through the mud with the case. We have had partners talk about what goes on in the firm in great detail. It has given everyone a lens into how Venture Capital works and how the industry is so subjective and how it decides to employ people, promote them, and measure success. A lot of it is very much dependent on personality and traits that caused ellen pao to feel she was discriminated against. Alix we talk about the importance of this trial and how it might reshape gender discrimination in Silicon Valley. Do we need a verdict for that or has it already done that by virtue of talking about it . Sarah facebook and twitter have been hit with different Discrimination Suits. People have been posting blogs about their own experiences. We have already seen quite a lot of discussion around this. Today, some Venture Capitalists posting on twitter there opinions. Whatever the verdict, people have already seen this as an out in the open discussion about the future of Silicon Valleys relationship with women in the upper ranks. Alix we are still waiting for the verdict. Thank you, sarah frier, for joining us from San Francisco. Our big story of the day, what fed chair janet yellen will say in 45 minutes. She will be speaking on the new normal of Monetary Policy which could mean some clues on when the fed could be raising rates. The Bloomberg Economist joins me now to preview her statements. What does the market want to hear . The market has been confusing this week, muddy, what do they want to hear . First, theres the ongoing debate of june, july, september 2016. They will be looking for clues on that front. What we need to focus on is yellens view on the strong dollar on the economy. We have heard from a lot of fed officials and heard a spectrum of views from it does not matter to it will have a very Significant Impact and potentially mean the fed should wait until 2016 to raise rates. That is an important theme of her remarks. Also, this new normal language. Alix what does that mean . Carl it is loaded language. A few years ago, economists were talking about the new normal for the economy. That was a new era of slower growth. We have seen that in this growth cycle because normally the economy grows 4 out of recession. This time, it has been only half as much, 2. 25 . Alix is the new normal referring to how fast the economy will grow or referring to fed policy . Carl it refers to both. If we are in a new normal economy growing slower a new Monetary Policy stance will be appropriate as well. We are getting clues of this from the fed. If we look at the last meeting, the medium was just at about 3. 75 . That is the longterm neutral funds rate. In the prior cycle, that was closer to 4. 25. The median is just on the cusp of slipping down to 3. 5 . The new normal for Monetary Policy, as she describes it is probably a u. S. Economy more sensitive to the value of the dollar or currency movements and the fact that Monetary Policy in this cycle may not be moving as high as in prior economic cycles. Alix you are excited. Carl i am very excited. Alix we will have that for you at 3 45. You will be with me during the press conference as well. Janet yellen is preparing to speak in San Francisco. We will be bringing that to you live, so stay with us. Oil prices plunging despite a second day of airstrikes in yemen. The latest on the battle between saudis and the iranian backed group. We will be back. Alix here are the top stories we are watching ahead of the closing bell. The economy grew at 2. 2 in the Fourth Quarter lead by the biggest gain in Consumer Spending and eight years. The report also showing corporate profits following in the last three months of the year capping the worst performance since the recession. The senate adopting a fiscal 2016 budget the calls for 5. 1 trillion in spending cuts but does not privatize medicare. Pulling an all nighter, the Senate Passed a budget which hopes to achieve balance in 10 years by 5246 votes. Harry reid announcing his retirement. In a video, the nevada lawmaker says he is losing temporarily losing his sight in one i gave him time to think about the future. He said we have to make sure the democrats take control of the senate again and it is improper for me to soak up those resources when it could be devoting those to the caucus. The battle continues in yemen. The saudi led forces extend air forces on the houthis for a second day hitting at least six provinces, including one rich in oil and gas. Joining me to discuss is Michael Weiss and the Ashmore Group regional director and former saudi arabia Economic Ministry advisor on oil and yemen. John, i want to start with you. What do the houthis want . The houthis want control power, money. The saudis want to control instability. They want to have to be secure. They do not want an influx of new minis yemenis. Alix iran has been dragged in on the margins. Iran has called for talks between saudi led forces and the houthis. Do you think these discussions are realistic . I dont think iran has been dragged in. Iran has been backing the houthis rebels. There is word commander of the revolutionary guard corps is in route to yemen which gives you an idea of how much importance they place on seeing the rebels succeed. What you are seeing is a romney hegemony spreading like a cancer. It is in iraq, syria yemen lebanon palestine. The problems the gulf arab states and now turkey which have had cordial relations with iran are facing is iran has gotten everything it wanted to get with the Nuclear Weapon without having a Nuclear Weapon. Which is to say, this umbrella for the expansion of what it sees as an empire. It started with the 2003 invasion of iraq and the toppling of saddams regime. Now it is metastasizing at an alarming rate. We can talk later about the battle of tikrit but all these things are interrelated. The fact this came together so quickly the actual operation was announced in rapid succession. According to bloomberg today, the centcom commander, the head of the u. S. Forces in the region, only had one hours notice before the operation got underway. In addition to trying to rescue this country that has descended into sectarian civil war, the optics are simple. The sunni majority countries are putting the United States on notice that iran is the longterm security threat, even more so than isis. Alix what do you think about what michael said, the longerterm threat playing out in terms of irans hegemony . John iran is trying to encircle the arabian peninsula. Saudi arabia is being threatened by the presence of iranian influenced people in yemen as well as the rest of the arabian area as well as parts of egypt as well as syria, iraq. It is feeling all the time it is in danger. The regime is not going to falter. It is not going to fall in saudi arabia. The family is steadfast. One has to give credit to the saudi decisionmaking this time around. They were very quick in being decisive to attack. But the saudis feel threatened as well as the rest of the gulf arm states. Alix is there a downside . Stratford had a note out today talking about the saudi led a taxing the Collateral Damage and civilian casualties the saudi led airstrikes saying it will galvanize opinion against ryad. Is it that you cannot win either way . John you are right. At the same time, there are tribal forces supporting the Saudi Coalition forces. They know there is no other way. There is no other way to use Ground Troops. You will see the influx of Ground Troops from possibly pakistan and egypt. Alix michael, do you agree we will see roundtrips sooner rather than later . Michael im reluctant to say these countries will insert Ground Troops. There was talk jordan might dispatch special forces or the military into syria and iraq. That did not happen. I think airstrikes for now. I have seen reports the president of yemen has called for negotiated settlements after the airstrikes. No doubt, he is concerned about the Collateral Damage and destruction of the yemeni capital. Alix how do you recover from that . If you have nothing there, there is no stability or money. Michael the United States puts a high premium on its counterterrorism capability in yemen. This was the yemen model the president praised. We have no intelligence footprint in this country any longer. U. S. Special forces pulled out last week. We cannot guide drones to bomb targets in yemen. The whole thing is a disaster. Alix unfortunately, we have to leave that there. Thank you for joining us. Michael weiss, you are staying with me. Coming up, Islamic State. To be the richest Jihad Organization in history. Where are they getting all their money . Details next. Alix welcome back to street smart. I am alix steel. How has the fighting in yemen change the way the United States fights the Islamic State in iraq . They find themselves in a difficult situation working in opposition in yemen but he mainly on the same side in iraq. Joining me to discuss his Michael Weiss. This stood out to me. One of the main backed militias decided to suspend action in tikrit because the u. S. Was involved. How does that play out . Michael it was backed by the revolutionary core and shiite militias. These militias are very antiamerican. They are looking to export the Islamic Revolution into iraq. The battle was supposed to have been finished by now. 25,000 forces, of which 20,000 or more were of these shia militia groups. They were supposed to sack tikrit in no time at all. Last week, the battle was stalled. Isis has maybe 700 militants holding the city. Boobytrapped the place with i. E. D. s, snipers, suicide bombings. They have bled the militias severely. Iraqi government says we cannot win without u. S. Air power. The United States is saying this is a victory for us because it means iran cannot do the job iran would like to do. I have seen statements coming out from centcom, the pentagon, the state department. These militias have not gone away. In tikrit today, you had two advisors in central tikrit. But that they have suspended operations does not mean they will not occupy after isis has been flushed out. Some of them are saying we think the United States invented isis and are dropping supplies to isis. This is all a conspiracy. Therefore, we will target u. S. Airplanes in our path. A very dangerous state of affairs. U. S. Is pretending these guys will not inherit the spoils of an american led victory against isis. Their 100 are going to. Alix looking at isis, how much money do they have . How long can they continue to sustain an offensive like this . Where do they get that money . Michael the first question, the answer is nobody knows. It is a murky economic scenario. I have heard they used to be earning about 3 million per day. Now it is down to 1 million per day. How do they make their money . Isis when it was al qaeda in iraq have become self financed since 2006. They equipped global al qaeda in terms of revenue. There was a point where oh some of bin laden asked for a loan. They get it from smuggling oil, artifacts on the black market. They get it from ransoms they hold against kidnapped journalists and aid workers and taxing the people they lord over. Alix we have to leave it there. We have lots more to talk about. Street smart will be right back. Alix here are the top stories we are watching ahead of this closing bell. Federal reserve vice chairman Stanley Fischer same more work must be done to reduce risk. He said many nonbanks still need security, shortterm funding to operate. We will hear from fed chair janet yellen speaking from San Francisco in just about 10 minutes. Dow chemical agreed to sell almost all of its chlorine business in a move valued at about 5 billion, and that means the ceo will meet a target of selling 7 billion of assets. Google is joining forces with Johnson Johnson to develop a robotic surgical program. The companies will explore ways to help doctors during operations. We are just 30 minutes until the close of trading. Lets go back to the breaking news desk, where chief markets correspondent scarl