Transcripts For CNBC Closing Bell 20150220 : comparemela.com

Territory record territory. The nasdaq worth keeping an eye on inching closer to 5,000. Its been the outperformer. We may be talking nasdaq 5,000 by next week sometime. Lets get to the Closing Bell Exchange exchange. Kim forrest is here, so is Peter Andersen from Congress Wealth management. Kevin carrone, ben willis from princeton securities joining us on the floor and Rick Santelli is in chicago. Lets start with Michelle Carusocabrera. Is she there . Im here yeah. So we have an agreement of sorts. Its just an extension, but do you sense were making some Real Progress this time around . Well the headline is that the greeks have caved on nearly everything it appears. They were never going to be subject to more reviews by the eu, the im f, and the ecb. Now theyre going to be subject to reviews by the eu the imf, and the ecb. They were never going to agree to commit to the current program. They have agreed to commit to an extension what happened to all the saber rattling when the new regime took power. Greeks stopped paying their taxes, started approaching a fiscal crisis. He was going to have to start deciding do i pay pensions do i pay the elderly, what do i do . I dont have enough cash and i cant borrow from the Capital Markets to cover the loss. Add to that the fact greeks were taking money out of the bank so their bank its were runs were running into trouble. They were pushed into a corner and the eurozone did not cave as the greek finance minister thought they would. They have agreed to all these things. What they get in return for that two different piles of money that were theirs if only they stuck to the program and this administration so far hadnt. By the way the previous one hadnt either. It gets them nearly 10 billion euros to help them get through a big hump of payments they have. They have to pay back the im f the ecb, and they have to pay their bills in greece as well. The key is the ecb payments arent due until months five and six. So what exactly happens after four months isnt exactly clear at this point. Yeah. Its a remember the phrase kicking the can down the road. Its like here we go again. How is this going to go down in greece . Will it be enough that this Prime Minister who promised all of these things you just laid through is backing down to get the monies . Is there going to have to be another confidence vote . They have a phrase which literally means a back flip but a little rougher around the edges if you know what i mean. There were a lot of predictions that is what this government would have to do because they would be cornered but your question is a key one, sarah. Lets see what the greek population does because it looks like theyve caved. They have worked so hard on the words. Greeks are very good at words. They will say is just a loan agreement. Lets see if they can really convince their constituency that this isnt as bad as it looks. Ben willis we have had an incredibly narrow week in the stock market. I mean is this what the market was waiting for . This is the first day weve had a decent amount of volatility with this rally were getting right now. It is an expiration but really the key to keep an eye on and take a look at the yield on the 10year, back above 2. 1 which is extraordinary move. If you look at the interday chart on the 10year, its actually far more dynamic than any of the equity charts you can put up. But i think the situation in greece is all weve really gotten truthfully after its all said and done is weve kicked the can down the road. Were going to revisit this. We know 10 billion is the price for a dreamer in greece of whether hes going to set aside what he was elected on. Weve got a fourmonth postponement until were going to be back having the same discussions. The fact of the matter is greece never should have been allowed in the eu. Once we figured out a way to have a graceful exit and maintain the rest of the eu so we dont have complaints from the other participants particularly ireland i think we will be faced with that discussion in the next four months. Kevin, is it enough for you . Youre focused on the u. S. Economy and the u. S. Stock market. Is this going to be over in your view this sort of temporary volatility headwind from the markets from greece . No i dont think so. I think what your previous guest said is exactly right. It does push it off a little bit but doesnt resolve anything. It might be easier to get to a compromise because you will have german elections and maybe more seasoning in terms of the new administration in greece. Its all about politics at this point but it doesnt relieve the fact theres still an enormous debt burden and that debt burden will stay with that country forever as far as we can tell. It doesnt change anything really. My point is though weve learned at this point when it comes down to the wire its in everybodys best interests to come up with a deal. The greeks will do it or the europeans will do it. Weve seen this game so many times before and it pays to just sit it out and wait in the markets, especially when youre talking about u. S. Stocks. Well thats exactly what im saying. And to extent that it keeps markets calm youre looking at markets here in the United States that are at record highs and ultimately investors are feeling reasonably good about things in the stock market. Bond market not so much. You look at the long end of the yield curve, its fallen sharply. Credit spreads have widened. Break evens on inflation rates have fallen dramatically. Theres a bunch of cross currents here but certainly getting a little bit of breathing room on greece, at least as a near term catalyst is better than the other outcome but it doesnt solve anything long term. I think it bears repeating, anybody joining us in the last couple minutes to check on the markets. Theres a News Conference under way in brussels outlining an agreement now between the eu and the greek officials to extend their current loan situation for four months not the six months they were after. On monday they will have to submit a list of reforms that theyve put in place to justify all this in which case a Conference Call will be held by european officials again on tuesday, and then they will figure out whether this thing will hold at that point. Were looking at brussels one of the european commissioners in charge of making this deal. Hes in charge of economic reform there. Peter andersen remind me again, were you willing to buy european equities early on in this year and does this even strengthen your willingness to want to buy europe at this point . Well, theres a couple things going on. Certainly we would like a longerterm agreement, but, you know, you cant confuse investing with politics and diplomacy, right . As invests as investors, we have a trading mentality. We want things in black and white. We want decisions to be fast and definite. In diplomacy and politics its a little bit different. Its longer periods. You have to really factor in all the elements of negotiation, and to me four months, i think thats a good sign. I think that thats showing that the euro the eu will probably be very very resilient, and this is a good test point. I know weve been there before but its another test point. And i have always been suggesting to stay somewhat engaged in european investing because you never know frankly, how the thing is going to turn out, and thats the key to diversification. You dont always want to stay 100 in euro nor do you want to stay 100 in u. S. Stocks. You want to be a blend. The euro is certainly reacting as we speak heading to 1. 14. Michelle what comes next for greece . We have the statement and you were talking about this a little bit. By monday greece has to give a list to the euro group of the reforms they want to do, any kind of structural changes based on the current arrangement, and then on tuesday the euro group will decide via teleConference Call whether or not they think these are okay or not. Thats going to be a key test because, remember, as you were talking about, sarah, some of the things this greek government calls reforms are considered anything but by other mens of the euro group. Weeb going were going to have to see if it meets the conditionality set by the other ministers. You see Christine Lagarde addressing reporters there. This will be a key decision about whether they get any of the money sitting there that they are waiting for. Kim forest whats your first blush on this . Weve all been watching this. Weve gone from this is so important to markets up 150 points on this to earlier this week that the greek situation was a side show for the u. S. Market. Does it matter to you as a u. S. Investor right now . Well it matters in two ways. First, as you noticed or as you have been noting the market reacts to this, and i would say the market overreacts to this because the market always overreacts in the short term. In the longer term it really is key to see whether or not this country, it doesnt even matter what country it is really but can a bad performing participant in thee u, can it escape . Thats the question. Everyone in the eu is trying to say no they cant and how make this bad actor behave well and at least attempt to pay back some money or borrow less or Something Like that. But, you know, thats really key, is the eu going to stay together. At this point theyre saying yes. Politics are driven by the populations ultimately and well see in five years whether or not everybody has the resolve to continue. Yeah good point. Politics in all of the countries. Rick santelli you heard ben willis talking about the treasury market. A lot of folks were watching bond yields as the litmus test to how sentiment was reacting to the headlines coming out of brussels. Right now were seeing the reaction. Well, i know weve had some volatility and know mr. Willis is probably a bit bored with the lack of volatility in stocks but yes. If you look at closes this week so far weve settled between 2. 07 and 2. 13 every day this week and today looks like no exception. So it really isnt going anywhere fast. The important thing and why everybody should Pay Attention is because 2. 17 is where we settled last year and we havent had a bond market go in the red for a long time. And with regard to greece, i so completely disagree. The euro dollar hasnt dunn nearly as much as all my trading buddies thought it would. Second, you had the dax for the first time close above 11,000 by one point. Today it closed 49 points better. That speaks volume to how important the canary is in the coal mine. The toxic gas in the coal mine is important and that will be years before we know but im sure that list michelle referred to is probably a xerox copy of the reform list theyve submitted when they wanted money. I dont see anything changed. I think the greeks won. Ben, very quickly, you mentioned this is expiration day. What are you expecting to happen in the next 48 minutes here as we head toward the close . The bias is still to the upside. You should see buying imbalancing dos imbalancing imbalsancing goss into the close. You have to keep an eye on what has been happening in the russell russell, the dax, and the nasdaq. The markets have been rising just not necessarily the ones that are usually watched by the investors at home. The markets have reacted positively even through the shiny thing that today were calling greece. Okay. Very good. Thank you all for playing ball here as the news was breaking out of brussels right here and michelle has gone back to monitor the News Conference. Well check back with her as news warrants on a pretty newsy day all of a sudden. And were looking at the highs of the session. Up nearly 150 points on the dow. Good enough for an alltime high for the dow and the s p and lets remember were only 46 45 points away from nasdaq 5,000 as we head toward the close here. Up next a top wall street pro scouting potential winners from the rise in what hes calling health care consumerism. You may be surprised at some of the names on the list. Stick around to hear them, including some public companies. By the way, apple near record highs again today. Its reported that they may be looking into car production fueled by tim cooks desire to keep up with google and its selfdriving vehicle under development right now. Its apple versus google. Thats coming up in a little bit. Stay tuned. More closing bell after this. Your moms got your back. Your friends have your back. Your dogs definitely got your back. But whos got your back when you need legal help . We do. Were legalzoom, and over the last 10 years, weve helped millions of people protect their families and run their businesses. We have the right people onhand to answer your questions backed by a trusted network of attorneys. So visit us today for legal help you can count on. Legalzoom. Legal help is here. So whats going on today . News alert message email calendar update most of us admit to being overwhelmed by information at work. Thats why ibm created verse. It uses powerful analytics to uncover hidden patterns in your email, calendars and social feeds. It continuously learns how you work. And helps you prioritize the people and projects you need to focus on. Theres a new way to work and its made with ibm. My name is tony sartorio. Im a lineman for pg e out of the Concord Service center. I have lived here pretty much my whole life. I have been married for twelve years. I have 3 kids. I love living here and i love working in my hometown. At pg e we are always working to upgrade reliability to meet the demands of the customers. Im there to do the safest job possible not only for them, but everybody, myself included that lives in the community. Im very proud to do the work that i do and say that i am a lineman for pg e because its my hometown. Its a rewarding feeling. Rally day, and its just bsh been in the last 90 minutes after word came out of an agreement between eu officials and greece to allow them a fourmonth loan extension while they justify the reforms that they want to put in place to allow them to take in 10 billion euros of new money to help kind of jump start them at this point. Right now the dow is up 135 points. 20 points off the high of the day but it is enough for an alltime high for the industrial average. The s p comfortably back above 2,100 at this hour. Also in record territory. And the nasdaq is less than 50 points away from nasdaq 5,000. Earlier the dow was down as much as 100 points. About a 245point range today. And its all on the greek headlines. Our next guests says consumerism is rapidly on the rise in the Health Care Industry. Rbc released an exclusive report on which companies are set to capitalize on that particular movement. David francis was head of the report and also joining the conversation is our own jon fortt. David, thanks for joining us. Tell us the effect that obama care has had on the Health Care Industry and why its more consumer jor gentoriented. Thanks for having me first. Its as much obamacare as it is general economics in the marketplace. If you look how much Health Care Costs have expanded over the last several years, employers are doing a big move of trying to push the cost of health care to their employees and ultimately that becomes the consumer. If you look at the number of consumers that have had their health care deductibles go up to a level thats over 1,000 over the last eight years, that number has exploded fourfold in that period of time. Over 40 of americans today are now having to pay high deductible its fors for their health plan and for the f. I. R. S. T. Irst time in seven decades were paying more out of our own pocket for the health care and its changing the dynamic. Before we bring in jon, tell us the names you think are set to benefit from this opportunity. Our favorite name of the group is web m. D. They have the leading consumer platform in the marketplace where theyve got over 60 million unique users that come to the website to get General Information on health care. We believe that traffic will leverage them into more Additional Solutions and opportunities for consumers to get more information. Several private companies in the space are doing very well also. The reason youre here jon, is because we just showed google and apple. Google ventures, theyre making a lot of investments in medical care and apple, you know, can be a big part of that as well. So youre seeing some nontraditional Companies Take advantage of this consumerism, arent we . A lot of them bill. Take a look more broadly. You have things like fitbits out there. You have these Online Services that can help you manage your physical activity, see if you need to move around more. Apples watch is coming out in just a few weeks. A key component of that is health kit which allows to you gather Blood Pressure data your blood type. All sorts of data like that and selectively share it with various Health Care Providers and some of the Broader Networks like humana have said theyre going to open up to this. What that comes down to is a new type of company, Tech Companies could have one of the most intimate relationships that people have with their health information. No longer will you have to go into a Doctors Office to get tested to some degree. Youll be able to test yourself and people might make more choices on what kind of Health Provider theyre going to go with based on how tech savvy these providers are. Thats a great point. If you look at where the real innovation is happening in the marketplace, apple and google are absolutely at the forefront of it given the capital and just the general traction they have in the marketplace but there are several private companies that are doing a tremendous job in this marketplace. There are issues like telemedicine where Companies Like doctor on demand and md live are allowing consumers to go online for a consult rather than going to their doctor. David, while we have time its not just Closing Bell Exchange<\/a> exchange. Kim forrest is here, so is Peter Andersen<\/a> from Congress Wealth<\/a> management. Kevin carrone, ben willis from princeton securities joining us on the floor and Rick Santelli<\/a> is in chicago. Lets start with Michelle Carusocabrera<\/a>. Is she there . Im here yeah. So we have an agreement of sorts. Its just an extension, but do you sense were making some Real Progress<\/a> this time around . Well the headline is that the greeks have caved on nearly everything it appears. They were never going to be subject to more reviews by the eu, the im f, and the ecb. Now theyre going to be subject to reviews by the eu the imf, and the ecb. They were never going to agree to commit to the current program. They have agreed to commit to an extension what happened to all the saber rattling when the new regime took power. Greeks stopped paying their taxes, started approaching a fiscal crisis. He was going to have to start deciding do i pay pensions do i pay the elderly, what do i do . I dont have enough cash and i cant borrow from the Capital Markets<\/a> to cover the loss. Add to that the fact greeks were taking money out of the bank so their bank its were runs were running into trouble. They were pushed into a corner and the eurozone did not cave as the greek finance minister thought they would. They have agreed to all these things. What they get in return for that two different piles of money that were theirs if only they stuck to the program and this administration so far hadnt. By the way the previous one hadnt either. It gets them nearly 10 billion euros to help them get through a big hump of payments they have. They have to pay back the im f the ecb, and they have to pay their bills in greece as well. The key is the ecb payments arent due until months five and six. So what exactly happens after four months isnt exactly clear at this point. Yeah. Its a remember the phrase kicking the can down the road. Its like here we go again. How is this going to go down in greece . Will it be enough that this Prime Minister<\/a> who promised all of these things you just laid through is backing down to get the monies . Is there going to have to be another confidence vote . They have a phrase which literally means a back flip but a little rougher around the edges if you know what i mean. There were a lot of predictions that is what this government would have to do because they would be cornered but your question is a key one, sarah. Lets see what the greek population does because it looks like theyve caved. They have worked so hard on the words. Greeks are very good at words. They will say is just a loan agreement. Lets see if they can really convince their constituency that this isnt as bad as it looks. Ben willis we have had an incredibly narrow week in the stock market. I mean is this what the market was waiting for . This is the first day weve had a decent amount of volatility with this rally were getting right now. It is an expiration but really the key to keep an eye on and take a look at the yield on the 10year, back above 2. 1 which is extraordinary move. If you look at the interday chart on the 10year, its actually far more dynamic than any of the equity charts you can put up. But i think the situation in greece is all weve really gotten truthfully after its all said and done is weve kicked the can down the road. Were going to revisit this. We know 10 billion is the price for a dreamer in greece of whether hes going to set aside what he was elected on. Weve got a fourmonth postponement until were going to be back having the same discussions. The fact of the matter is greece never should have been allowed in the eu. Once we figured out a way to have a graceful exit and maintain the rest of the eu so we dont have complaints from the other participants particularly ireland i think we will be faced with that discussion in the next four months. Kevin, is it enough for you . Youre focused on the u. S. Economy and the u. S. Stock market. Is this going to be over in your view this sort of temporary volatility headwind from the markets from greece . No i dont think so. I think what your previous guest said is exactly right. It does push it off a little bit but doesnt resolve anything. It might be easier to get to a compromise because you will have german elections and maybe more seasoning in terms of the new administration in greece. Its all about politics at this point but it doesnt relieve the fact theres still an enormous debt burden and that debt burden will stay with that country forever as far as we can tell. It doesnt change anything really. My point is though weve learned at this point when it comes down to the wire its in everybodys best interests to come up with a deal. The greeks will do it or the europeans will do it. Weve seen this game so many times before and it pays to just sit it out and wait in the markets, especially when youre talking about u. S. Stocks. Well thats exactly what im saying. And to extent that it keeps markets calm youre looking at markets here in the United States<\/a> that are at record highs and ultimately investors are feeling reasonably good about things in the stock market. Bond market not so much. You look at the long end of the yield curve, its fallen sharply. Credit spreads have widened. Break evens on inflation rates have fallen dramatically. Theres a bunch of cross currents here but certainly getting a little bit of breathing room on greece, at least as a near term catalyst is better than the other outcome but it doesnt solve anything long term. I think it bears repeating, anybody joining us in the last couple minutes to check on the markets. Theres a News Conference<\/a> under way in brussels outlining an agreement now between the eu and the greek officials to extend their current loan situation for four months not the six months they were after. On monday they will have to submit a list of reforms that theyve put in place to justify all this in which case a Conference Call<\/a> will be held by european officials again on tuesday, and then they will figure out whether this thing will hold at that point. Were looking at brussels one of the european commissioners in charge of making this deal. Hes in charge of economic reform there. Peter andersen remind me again, were you willing to buy european equities early on in this year and does this even strengthen your willingness to want to buy europe at this point . Well, theres a couple things going on. Certainly we would like a longerterm agreement, but, you know, you cant confuse investing with politics and diplomacy, right . As invests as investors, we have a trading mentality. We want things in black and white. We want decisions to be fast and definite. In diplomacy and politics its a little bit different. Its longer periods. You have to really factor in all the elements of negotiation, and to me four months, i think thats a good sign. I think that thats showing that the euro the eu will probably be very very resilient, and this is a good test point. I know weve been there before but its another test point. And i have always been suggesting to stay somewhat engaged in european investing because you never know frankly, how the thing is going to turn out, and thats the key to diversification. You dont always want to stay 100 in euro nor do you want to stay 100 in u. S. Stocks. You want to be a blend. The euro is certainly reacting as we speak heading to 1. 14. Michelle what comes next for greece . We have the statement and you were talking about this a little bit. By monday greece has to give a list to the euro group of the reforms they want to do, any kind of structural changes based on the current arrangement, and then on tuesday the euro group will decide via teleConference Call<\/a> whether or not they think these are okay or not. Thats going to be a key test because, remember, as you were talking about, sarah, some of the things this greek government calls reforms are considered anything but by other mens of the euro group. Weeb going were going to have to see if it meets the conditionality set by the other ministers. You see Christine Lagarde<\/a> addressing reporters there. This will be a key decision about whether they get any of the money sitting there that they are waiting for. Kim forest whats your first blush on this . Weve all been watching this. Weve gone from this is so important to markets up 150 points on this to earlier this week that the greek situation was a side show for the u. S. Market. Does it matter to you as a u. S. Investor right now . Well it matters in two ways. First, as you noticed or as you have been noting the market reacts to this, and i would say the market overreacts to this because the market always overreacts in the short term. In the longer term it really is key to see whether or not this country, it doesnt even matter what country it is really but can a bad performing participant in thee u, can it escape . Thats the question. Everyone in the eu is trying to say no they cant and how make this bad actor behave well and at least attempt to pay back some money or borrow less or Something Like<\/a> that. But, you know, thats really key, is the eu going to stay together. At this point theyre saying yes. Politics are driven by the populations ultimately and well see in five years whether or not everybody has the resolve to continue. Yeah good point. Politics in all of the countries. Rick santelli you heard ben willis talking about the treasury market. A lot of folks were watching bond yields as the litmus test to how sentiment was reacting to the headlines coming out of brussels. Right now were seeing the reaction. Well, i know weve had some volatility and know mr. Willis is probably a bit bored with the lack of volatility in stocks but yes. If you look at closes this week so far weve settled between 2. 07 and 2. 13 every day this week and today looks like no exception. So it really isnt going anywhere fast. The important thing and why everybody should Pay Attention<\/a> is because 2. 17 is where we settled last year and we havent had a bond market go in the red for a long time. And with regard to greece, i so completely disagree. The euro dollar hasnt dunn nearly as much as all my trading buddies thought it would. Second, you had the dax for the first time close above 11,000 by one point. Today it closed 49 points better. That speaks volume to how important the canary is in the coal mine. The toxic gas in the coal mine is important and that will be years before we know but im sure that list michelle referred to is probably a xerox copy of the reform list theyve submitted when they wanted money. I dont see anything changed. I think the greeks won. Ben, very quickly, you mentioned this is expiration day. What are you expecting to happen in the next 48 minutes here as we head toward the close . The bias is still to the upside. You should see buying imbalancing dos imbalancing imbalsancing goss into the close. You have to keep an eye on what has been happening in the russell russell, the dax, and the nasdaq. The markets have been rising just not necessarily the ones that are usually watched by the investors at home. The markets have reacted positively even through the shiny thing that today were calling greece. Okay. Very good. Thank you all for playing ball here as the news was breaking out of brussels right here and michelle has gone back to monitor the News Conference<\/a>. Well check back with her as news warrants on a pretty newsy day all of a sudden. And were looking at the highs of the session. Up nearly 150 points on the dow. Good enough for an alltime high for the dow and the s p and lets remember were only 46 45 points away from nasdaq 5,000 as we head toward the close here. Up next a top wall street pro scouting potential winners from the rise in what hes calling health care consumerism. You may be surprised at some of the names on the list. Stick around to hear them, including some public companies. By the way, apple near record highs again today. Its reported that they may be looking into car production fueled by tim cooks desire to keep up with google and its selfdriving vehicle under development right now. Its apple versus google. Thats coming up in a little bit. Stay tuned. More closing bell after this. Your moms got your back. Your friends have your back. Your dogs definitely got your back. But whos got your back when you need legal help . We do. Were legalzoom, and over the last 10 years, weve helped millions of people protect their families and run their businesses. We have the right people onhand to answer your questions backed by a trusted network of attorneys. So visit us today for legal help you can count on. Legalzoom. Legal help is here. So whats going on today . News alert message email calendar update most of us admit to being overwhelmed by information at work. Thats why ibm created verse. It uses powerful analytics to uncover hidden patterns in your email, calendars and social feeds. It continuously learns how you work. And helps you prioritize the people and projects you need to focus on. Theres a new way to work and its made with ibm. My name is tony sartorio. Im a lineman for pg e out of the Concord Service<\/a> center. I have lived here pretty much my whole life. I have been married for twelve years. I have 3 kids. I love living here and i love working in my hometown. At pg e we are always working to upgrade reliability to meet the demands of the customers. Im there to do the safest job possible not only for them, but everybody, myself included that lives in the community. Im very proud to do the work that i do and say that i am a lineman for pg e because its my hometown. Its a rewarding feeling. Rally day, and its just bsh been in the last 90 minutes after word came out of an agreement between eu officials and greece to allow them a fourmonth loan extension while they justify the reforms that they want to put in place to allow them to take in 10 billion euros of new money to help kind of jump start them at this point. Right now the dow is up 135 points. 20 points off the high of the day but it is enough for an alltime high for the industrial average. The s p comfortably back above 2,100 at this hour. Also in record territory. And the nasdaq is less than 50 points away from nasdaq 5,000. Earlier the dow was down as much as 100 points. About a 245point range today. And its all on the greek headlines. Our next guests says consumerism is rapidly on the rise in the Health Care Industry<\/a>. Rbc released an exclusive report on which companies are set to capitalize on that particular movement. David francis was head of the report and also joining the conversation is our own jon fortt. David, thanks for joining us. Tell us the effect that obama care has had on the Health Care Industry<\/a> and why its more consumer jor gentoriented. Thanks for having me first. Its as much obamacare as it is general economics in the marketplace. If you look how much Health Care Costs<\/a> have expanded over the last several years, employers are doing a big move of trying to push the cost of health care to their employees and ultimately that becomes the consumer. If you look at the number of consumers that have had their health care deductibles go up to a level thats over 1,000 over the last eight years, that number has exploded fourfold in that period of time. Over 40 of americans today are now having to pay high deductible its fors for their health plan and for the f. I. R. S. T. Irst time in seven decades were paying more out of our own pocket for the health care and its changing the dynamic. Before we bring in jon, tell us the names you think are set to benefit from this opportunity. Our favorite name of the group is web m. D. They have the leading consumer platform in the marketplace where theyve got over 60 million unique users that come to the website to get General Information<\/a> on health care. We believe that traffic will leverage them into more Additional Solutions<\/a> and opportunities for consumers to get more information. Several private companies in the space are doing very well also. The reason youre here jon, is because we just showed google and apple. Google ventures, theyre making a lot of investments in medical care and apple, you know, can be a big part of that as well. So youre seeing some nontraditional Companies Take<\/a> advantage of this consumerism, arent we . A lot of them bill. Take a look more broadly. You have things like fitbits out there. You have these Online Services<\/a> that can help you manage your physical activity, see if you need to move around more. Apples watch is coming out in just a few weeks. A key component of that is health kit which allows to you gather Blood Pressure<\/a> data your blood type. All sorts of data like that and selectively share it with various Health Care Providers<\/a> and some of the Broader Networks<\/a> like humana have said theyre going to open up to this. What that comes down to is a new type of company, Tech Companies<\/a> could have one of the most intimate relationships that people have with their health information. No longer will you have to go into a Doctors Office<\/a> to get tested to some degree. Youll be able to test yourself and people might make more choices on what kind of Health Provider<\/a> theyre going to go with based on how tech savvy these providers are. Thats a great point. If you look at where the real innovation is happening in the marketplace, apple and google are absolutely at the forefront of it given the capital and just the general traction they have in the marketplace but there are several private companies that are doing a tremendous job in this marketplace. There are issues like telemedicine where Companies Like<\/a> doctor on demand and md live are allowing consumers to go online for a consult rather than going to their doctor. David, while we have time its not just Digital Health<\/a> thats getting all the money. To me reading your report i would think walmart has a huge opportunity and i know theyre increasingly getting into health care when it comes to pricing and information and really reaching a wide swath of consumers. No, theres no question about it. If you look at the fragmentation in the Digital Health<\/a> marketplace and how Digital Health<\/a> plays into health care generally, its the big players in the marketplace that definitely have the swagger to deliver a lot of these solutions that were looking for, but its these up and coming companies that are really cutting at the cutting edge of whats going on and partnering with the larger Companies Like<\/a> apples googles, wallmartswalmarts, et cetera, to help consumer at the end of the day. David francis from rbc Capital Markets<\/a>. Jon, always good to see you. We have more on that greek deal that just broke in the last half hour pushing markets higher and the dow is up 144 points on track for its first record close of 2015. Thats amazing. Plus the s p in record territory. Keeping up with the joneses or in this case keeping up with google and apple. Apple is getting into the car business. Is that an attempt to catch up with googles ambitious automotive plans as well . Two tech giants engaging in a full fullon auto wars. The pros will take about that when sarah and i come back. We can help guide your retirement savings. Our experience is one reason 100 of our Retirement Funds<\/a> beat their 10year lipper averages. So wherever your longterm goals take you we can help you feel confident. Request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. Call us or your advisor. T. Rowe price. Invest with confidence. Help northern china reduce its reliance on coal fire heating plants and prevent 60 million tons of co2 emissions . When emerson takes up the challenge its never been done before simply becomes consider it solved. Emerson. Here we are marching toward the close. A little over a half hour left and we are looking at potentially the first record close of 2015 for the Dow Jones Industrial<\/a> average. 18,131. There is where it would need to close to be a record 18,053. As you can see we are well above that level. S p 500 also in record territory. 2,100. 34 is the record close. This february is shaping up to be a positive one. Certainly started early strong. Dominic chu it says keeping a hawkeye on movers. Maybe im like an owl with the markets. Lets start off with iron mountain, the worst performer in the s p 500 today. The information and Document Management<\/a> company is reporting Fourth Quarter<\/a> earnings below what wall street was expecting. Iron mountain saying it expects currency affects headwinds will drag down performance for that share. So meanwhile Mohawk Industries<\/a> also taking the top spot here in the s p 500 on the opposite side of things after a Solid Earnings<\/a> beat. Saying they will bin fit from stronger consumer confidence. They make a lot of carpets and Floor Covering<\/a> materials. Finally were going to talk about apple not because we dont always talk about apple but because its hitting a new record high again today. The iphone maker is reportedly beginning to look at production of electric cars as soon as 2020. Sarah sarah, bill, its up 17 in 2015, up 70 in the last year and its worth over 750 billion. Apple is a focus sill for investors. No question about it. Part of the reason why the nasdaq has been up eight days in a row. If apple is developing a car, some believe a potential decision could be tied to keeping up with googles driverless car. Yahoo finances aaron pressman joins us to break that view along with evan who is not convinced google is what is driving apple. Aaron, you first. Make your case. Sure look apple is not going to follow everything google does. I dont think we will see apple fiber to the home anytime soon but cars are the biggest consumer Hardware Market<\/a> there is in the world. All of silicone valley is looking at it. Apple is preparing for years ahead when google and others will be ready, too. What you just said aaron, reminded me of the smartest thing i read on the topic. Evan i will let you address this. The point is that car business really high expect fashions for apple to get in. The margins arent that high and the market isnt that big. Why would apple want to get in and dominate this industry . Well i think theres a lot of reasons why apple might want to get in. They are a big believer in climate change. If you think about electric vehicles, thats one of the big developments and it could really have some good impact on the world. As far as whether or not google is the driving force behind them considering this i dont think thats necessarily the case because if you look at it fundamentally, apple and google typically attack markets from different angles. Apple comes in at the high end and google comes in at the low end. I think goggles proposition will be the driverless aspect where as apples proposition will be the electric. I think it will be more competitive to tesla versus google. Speaking of which, we all know elon musk has been crying foul because he claims apple has stealing some of his engineers to work on this apple car. Aaron, we talked about how apple is transforming itself from a gadget maker to a platform company. It seems to me a car would be a perfect platform to have other technologies apple technologies spring from that. I think thats exactly right. If you look at the analysis now, software makes up a small portion of the value of a car but everyone expects thats going to grow and that cars will become more automated, more connected to the internet and much more high Tech Products<\/a> than they are today. So this is exactly in apples sweet spot some place they need to go like google sees like tesla sees. Even the big carmakers are coming to silicon valley. Ford opened a center in silicon valley. A lot of people see this as a Technology Platform<\/a> of the future. Aaron, evan, good to see you both. Thank you. An intriguing story. Im sure well be dealing with it more in the future. Thanks. Much more to come on the closing bell. The markets set to close at record highs propelled by this deal to give greece a fourmonth bailout extension. Well get a lot more on why investors are cheering it. The euro is rallying. Here is courtney reagan. Here is whats happening at this hour. Eurozone finance ministers have reached an agreement to extend greeces Financial Rescue<\/a> by four months. It removes the immediate risk of greece running out of money next month. Michelle carusocabrera will have more after the break. Kiev accused russia of sending more tanks and troops and expanding their presence in eastern ukraine. The white house saying theyre troubled by the Ongoing Military Operations<\/a> and warned of additional costs possible for russia if theres no change. A federal Appeals Court<\/a> ruled the vicks of Bernie Madoffs<\/a> massive fraud are not entitled to some racing drama. Dan that patrick and denny hamlin having a heated discussion after the latest dust up between the 10 and 11 cars that sent her crew scrambling to get her back on the track to qualify for sundays day know that 500 race. Thats the cnbc news update for this hour. The closing bell will return after this quick break. Who do you trust . Whose analysis is accurate . How do you make sense of it all . A simple unbiased stock score consolidated from the opinions of independent analysts. Is that too much to ask . Nope. Equity summary score powered by starmine, will help you execute your ideas with speed and conviction. And its only on fidelity. Com. Open an account and find more of the expertise you need to be a better investor. We are heading to the close about 25 minutes left. The dow in record territory with a rally of 151 points. The s p is up 12 points right now in record territory as well and the nasdaq is near 45 points away from nasdaq 5,000 right now. Its all greek to the market today. You could say this entire trading session was dominated by headlines from this Euro Group Meeting<\/a> in brussels that finally resulted in a deal. Our chief International Correspondent<\/a> Michelle Carusocabrera<\/a> has been monitoring the News Conference<\/a> out of brussels. Really what we have agreed to do is keep the clock ticking, right . Yes and they have given greece the optionality if they do the right thing to come into a lot of money. The major News Conference<\/a> is over. The greek finance minister is sneaking in greek. Well listen to him when he speaks in english. Greece gets a fourmonth extension they will extension pel. They will be subject to monitoring. They can get money but theres not going to be any money that they can thats previously been allotted to them until they get euro group approval. They have to go through the first key review on tuesday. This is going to start immediately. Are they sticking to the Program Commitments<\/a> . The first thing they have to do is submit a list of reforms. Will that meet the standards of what the euro group says . Lets see what happens next week. But right now its just a fourmonth lets listen to the greek finance minister. Is he speaking in english yes . Hes not speaking greek. Back to you guys. Michelle well let you keep monitoring that. Lets get more reaction and analysis from Larry Mcdonald<\/a> from socgen greg ipp. You were ready to talk before we turned your mic on. Weve been down this road before. Michelle said it best they have to produce. Greece has to produce reform measures and then the euro group has to approve those. Although we have a deal, there are contingencies with the entire greek population is going to fight over all weekend. There may well be a deal but i look at the vix curve right now, how much it steepened. The vix curve has gone from completely flat to the 70th percentile in four weeks. Meaning what . Meaning vol is incredibly cheap on the front end and relative to where it was in january. Volatility right. If you want to buy protection, its extremely cheap relative to the risks that are still lingering. This is exactly the playbook greg that weve seen before with greece. Were down to the wire. This was a little less of a cliffhanger than we have seen before. We didnt have the contagion factor, we werent in the final hour of the bailout sort of expiring, but here we go again. Just another time theyre kicking the can down the road. But when you point out the lack of the contagious factor, thats critical. Thats why greece capitulated. Their game plan was they felt europe needed them to stay in the euro but because the European Central<\/a> bank has to thoroughly protected italy and sprain from contagion, that negotiating leverage was gone. Thats why i expect this relief rally to be short. The markets default view was europe will muddle through whether or not greece stays, its not material to the rest of the zone. We will go back to looking at the data and wondering whether qe is really going to work and pull europe out of this slump. There was a time larry, when you were concerned about bonds of banks that had lent to grooebs. Is that still a concern for you right now . Now im looking at spain in the sense if youre spain and youre saying the you want a deal now. You want debt relief. You want austerity relief. Wait a second but they havent actually negotiated any of that really. Theyre just postponing it for four months where they have to talk about it again. Youre right, but they have agreed to this well know on monday but it looks like it looks like germany is giving in a little bit. It obviously looks like greece has given in more. My point is if the euro group gives greece anything, anything they give them the spanish are going to want it. The spanish will rise and its been rising. The voting polls show that theyve gone from fractions of percentages to upwards in the 20s. Is michelle there . Or is she listening to the News Conference<\/a>. Greg ip i will ask you. Angela merkel the role she played in all of this she was willing to play hardball from the very beginning after the new regime and they were talking so tough and she was going to wait it out because the markets had gone against greece in the lending market at that time. So, i mean shes really i think, one of the key players in all this dont you . Oh yeah. I think the germans play game theory better than the greeks. They put out word that they didnt consider it essential that greece stay in the eurozone. They said if you dont want to live by our terms, then goodbye. And i think that is essentially that very Firm Position<\/a> which held throughout the euro group is why greece has moved way more than the euro group. Now, that said were still in a negotiation, and we dont know what the final result will be. I expect that well end up with an agreement that does ease some of the austerity thats been bearing down on greece. Thats not a bad thing. I think you will see the same thing for the italians and the spanish. Thats kind of what mario draghi has been asking for. We havent got the ink dry on that letter but thats i think where well end up. Given that fact larry, the bottom line here do you invest in european stocks because the stimulus is flowing, mario draghi has ring fenced it and you might get a little easier austerity which would perhaps lead to some growth. On a multiple basis, european stocks have dramatically outperformed u. S. Equities. So i think you buy european stocks on some fear on weakness. Youre going goingto get more fear moments moments. As vol cheapens thats a good time to get long vol. Because youre bracing for more bumps. These reform measures were going to hear they could upset the europeans. Greece has to agree on oughtausterity and i dont think theyre going to give in as much as people think. Greg, what do you think mario draghi at the European Central<\/a> bank thinks of all this . I think hes probably thinking like my job was never to set the terms of this agreement. My job was to let the politicians work out the terms and then to give the support, the power of my Balance Sheet<\/a> only to those countries that live by those terms. He played hardball, and i think that from where he sits today, hes looking pretty good. It looks like he made exactly the right decision. It just feels like everybody is going to walk away from this feeling like the hero on both sides. It will be interesting to see what happens in greece. Everybody walks away feeling like they got something, right . Politics game continues. Good to see you greg ip and Larry Mcdonald<\/a> and our Michelle Carusocabrera<\/a> who is still monitoring that press conference. Waiting for him to speak english. Were waiting for the close. 18 minutes left. It looks like well have a record. The dow is up 153. Thats in record territory. So is the s p and the nasdaq up 30 points right now. Also when we come back, well talk about the latest in talks between west coast port operators and the union management. Do we have a deal there . Doesnt look like it. Our jane wells is the on the case. Shell be here live. I make a lot of purchases for my business. And i get a lot in return with ink plus from chase. Like 60,000 bonus points when i spent 5,000 in the first 3 months after i opened my account. And i earn 5 times the rewards on internet, phone services and at Office Supply<\/a> stores. With ink plus i can choose how to redeem my points. Travel, gift cards even cash back. And my rewards points wont expire. So you can make owning a business even more rewarding. Ink from chase. So you can. You, my friend are a master of diversification. Who would have thought three cheese lasagna would go with chocolate cake and ceviche . The same guy who thought that small caps and bond funds would go with a merging markets. Its a masterpiece. Thanks. Clearly you are type e. You made it phil. Welcome home. Now whats our strategy with the fondue . Diversifying your portfolio . E trade gives you the tools and resources to get it right. Are you type e . Grind virtually any kind of food waste into an unending source of electrical power for a city . When emerson takes up the challenge its never been done before simply becomes consider it solved. Emerson. Looks like we are ending the week on a high note with the dow up over 150 points in record territory, set to close at a record high for the first time of the year. The nasdaq actually is also charging ahead. Up 0. 6 within 2 of its record high. This is all 100 components of the nasdaq 100 right now as we see, and most of them are green right now. So lets get to Bertha Coombs<\/a> at the Nasdaq Market<\/a> site monitoring the situation. I think we do it next week dont you . We are awfully close. I think we definitely get back to 5,000 next week although we obviously have the greek drama still overhanging going into next week. But the nasdaq composite is the best performer this week. And along the way were seeing some alltime highs for the s p i. T. Sector thanks to a lot of tech giants here that are doing so well. The biotechs continue to be on fire and actually we have more biotech stocks on the nasdaq composite than we have tech stocks these days. And also the qqqs continue to power higher and some of those nasdaq 100 stocks today at all time high that is are taking out their alltime highs even from 2000 include intuit saying that the fraud that they saw with some of the tax returns werent due to a hack on their zmsystem, and, of course apple which continues to power the nasdaq higher. The best performer of the week and so far one of the best performers of the year. Unbelievable since march 2000. Art cashin signaled theyve got an imbalance to the buy side. 30 million in stock to the buy said right now. More buying. What a turnaround. It could pearare off. Well see. Ten minutes to go before the closing bell. As you can see the major indices are all in the green. Record territory for the dow and the s p 500. The nasdaq higher as well. Not too far from that 5,000 level. I jinxed it by saying its going to happen next week. Well take you to the close in a moment. Stay tuned. Hey, girl. 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Today you can use ibm watson analytics. It can make sense of all kinds of data. Uncover hidden correlations and new opportunities. And give recommendations with more confidence on who will buy. What to make. Where to plant. Which helps you make smarter decisions. Theres a new way to work and its made with ibm. Less than ten minutes left. The dow holding on with a gain of 141. The high i think was 157 but were in record territory. Joining us is our friend david darst and our own bob pisani. We havent mentioned it since the top of the last hour bob. This is expiration day, too. Some of that may be accounting for this rally, too. And were at new highs, by the way. 2108 here on the Dow Jones Industrial<\/a> excuse me on the s p 500. We have quietly moved up to new highs. Im happy they got the press conference, this got resolved before the markets closed. It was a great way to end the week. The important thing is they asked the head of the euro group, could greece survive without a third bailout. This agreement is going to expire. He said there would be discussions beginning on a possible followup arrangement. This is opening the door to the possibility of a new deal. Does that mean we will be here again in four months . Yes. It certainly kicked the can. The problem is they didnt want to let them leave and they didnt want a new arrangement. What do you do . You kick the can. So do you buy europe here . I think you were buying european stocks anyway. We talked last week the european hedged index is up 12 this year. In dollar terms in euro terms its up 11 , Something Like<\/a> that. Its a good thing. We think you can still buy europe. A lot of bad news has been priced in. You have monetary stimulus under way. So were a buyer of europe. However, the ukraine situation is always a potential destabilizer, and i think thats not an ignorable risk. Its important to keep that in mind. You can buy europe and buy japan. Here is the question next week we have yellen testimony, we have a number of data releases on the u. S. Economy. Do we get back to that bob, or do we get back to fundamentals here digesting u. S. Earnings and relative valuations here . If this thing goes through with greece, remember now on monday they have to submit what their austerity measures are. They said well go 70 of the way, well see. If that calms down immediately its going to be about yellen and looking for signals about when the next rate hike is going to be. They seem to imply its not really going to be june it will be likely september, but were all going to be very very focused on the u. S. And the Federal Reserve<\/a> by wednesday are you focused on that david . Watch earnings watch oil, watch china. That baltic dry shipping index being down 56 of the last 59 days i know people mamepoohpooh that but indicative of a slowing china engine. We all follow that and its an incredibly important index but it just needs a sexier name. Baltic dry doesnt do it for you. Theyre all off the port of long beach waiting to get into port. Another cliff hanging deal. We have that coming up as well. But we have the closing countdown in just a moment. After the bell what you need to know for the week ahead. We mentioned fed chairman janet yellen testifying on capitol hill. Earnings due out, mayys, ymacys home depot depot. Dont touch that remote. Were cnbc, first in business worldwide. Im angela and i quit smoking with chantix. My children always wanted me to quit smoking but i resigned myself to the fact that it wasnt going to work. But chantix helped me do it. Along with support, Chantix Varenicline<\/a> is proven to help people quit smoking. It gave me the power to overcome the urge to smoke. Some people had changes in behavior, thinking or mood hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. Some people had seizures while taking chantix. If you have any of these stop chantix and call your doctor right away. Tell your doctor about any history of Mental Health<\/a> problems, which could get worse while taking chantix or history of seizures. Dont take chantix if youve had a serious allergic or skin reaction to it. If you develop these stop chantix and see your doctor right away as some can be lifethreatening. Tell your doctor if you have a history of heart or blood vessel problems or develop new or worse symptoms. Get medical help right away if you have symptoms of a heart attack or stroke. Decrease alcohol use while taking chantix. Use caution when driving or operating machinery. Common side effects include nausea trouble sleeping and unusual dreams. Im a nonsmoker. Ask your doctor if chantix is right for you. Ameriprise asked people a simple question in retirement, will you have enough money to live life on your terms . I sure hope so. With healthcare costs, who knows. Umm. Everyone has retirement questions. So ameriprise created the exclusive confident retirement approach. Now you and your ameripise advisor. Can get the real answers you need. Start building your confident retirement today. Can it make a dentist appointment when my teeth are ready . Can it tell the doctor how long you have to wear this thing . Can it tell the Flight Attendant<\/a> to please not wake me this time . The answer is yes, it can. So, the question your customers are really asking is can your business deliver . Weve got about three minutes left in the trading session here. Ill show you a couple charts for the week and remember this was a shortened week anyway. We are off on monday for president s day but it was still a very very narrow trading week for the dow until today with this late rally this afternoon on the talk of the greek deal plus it is expiration day. The third friday of the month. So were seeing some options and futures going off the board on the close here but net net for the week the dow is up just 0. 63 . Nasdaq the march to 5,000 continues. Its been a stair step week for that index and now we are 48 points away with a gain this week of 1. 2 . Volatile week for oil. 50 has been the point that it keeps moving above and below. Today its right at 50, down 1. 6 for the week. Down 4. 3 after that rally last week. Does oil still call the shots to some degree . It seemed to get lost in the sauce there for a while. I think the fact that its moved to the back burner is a good thing. Now that its stabilizing, thats a good thing. People are looking at earnings. You will get this second call on the gdp report this coming week. This week is going to be all about housing. This recovery has been really automobile driven much more than housing driven, and we want to see whether the housing can begin to pick up. Retail sales being even with gasoline out flat for the month, youd like to see the retail sales begin to kick in. That would, i think, bring people back to the market. It would help if the weather got better. Im calling the bottom on the weather. This is something i never do. Coldest day of the century, whatever we call it it doesnt matter, this is it and its going to get warmer from here and were going to get people going into the malls. Spring is going to come. Daylight saving time is march 7th. Next week if we can just get the greeks to agree to terms, thats going to go away. If we can get the port issue resolved, that will go away. Then we can focus on Janet Yellens<\/a> commentary. Well focus on the u. S. Economy and how its looking for the spring season. All right. So theres the agenda for next week. Bob and bill february is up 5. 5 , and if this is a replay of last year january down february up. This is a replay of last year. And you got to be prepared for a mount up if you get some good Economic News<\/a> flow weather improves, retail sales improve, you could see people coming right back into the market. Echoing something byron said on air yesterday. A surprise move higher is what sgroo hes a good man. And so you, david darst. Have a good weekend. Bob, as always. Have a good weekend. We go out with a decent gain in record territory for both the dow and the s p and look at the nasdaq, 45 points away now from nasdaq 5,000. Stay tuned now. Its hour number two of the closing bell. Welcome to the closing bell. Im sara eisen in for kelly evans. Here is how were finishing the week on wall street. A very strong finish thanks to that deal to extend greeces deal for a bailout extension. The bough closing at a record high 18 138. Its well within a record high and that would be its first record close of 2015. S p 500 also closing at a new record high 2,110. 17. The nasdaq is 2 away from its alltime closing high. Records all over the place, for the russell, the s p 400 midcaps and more. Our panel is our own kate kelly and Nathan Bachrach<\/a> also Kenny Polcari<\/a> and fast money trader brian kelly. But we have to start with Michelle Carusocabrera<\/a> who has been all over the greece situation thats really unfolded in the last hour. Michelle, i know you have been listening to the greek finance minister speaking. What is the latest . Hes trying to put a positive spin on whats happened today saying its a very good outcome even though they have really had to basically give in to almost everything. Let me give you highlights of what the deal is that theyve agreed to with their bailout partners in europe. Theyre going to get a fourmonth extension of the current bailout agreement. They will be subject to monitoring by the institutions that have been in their the last couple years to ensure that theyre going to be able to that theyre sticking to their commitments. You see the greek finance minister in brussels taking questions from reporters. They are not going to get any of the money sitting there waiting for them until they prove that they are sticking with certain reforms reforms. Hes saying theyre going to have some flexibility on that front but i can tell you the german finance minister has already come out and said hes going to be very surprised and interested to see what the greek populations reaction is. He says theyre going to have a difficult time the greek government explaining the deal to their voters. We are going to wait for a key review on tuesday. The greeks first big test, they have to submit a list of reforms they want to do. Then on tuesday we will find out if they pass this first test. So this is going to be incremental steps along the way, and its pretty clear were already talking about at the end of the fourmonth agreement whether theyre going to need another bailout because they have had such a hard time with their economy, they will run short on money and they will still have payments they cant meet, sara. Its just incredible as you have been pointing out the last hour. The number of iterations of this drama weve gone through unbelievable. Over the years. And its not unlike the debt ceiling negotiations and the fiscal cliff and everything goes to the end and its this whole game of rhetoric and posturing and finally they make a lastminute deal correct . Until they dont. Kenny p. We had a lack of volatility until this last 90 minutes or so. And lets face it it did happen when they announced the greek dial but how much of it was expiration. At the last minute you get the volume in the expiration. You could see at 2 00 it was really to the buy side. All the initial indications were all to the buy side. I thought it was going to start to pare off and all of a sudden in the last half an hour they continued to go to the buy side. I think some of that was a direct result of what happened today in terms of the greek deal. You know im curious in terms of the macro picture what you think really too. Is the rally were seeing in u. S. Markets today, is it another effect of were the best looking house on a tough block . You see all the turmoil in europe and especially with greece. Obviously they have a shorter Term Solution<\/a> but they have just extended the problem out a few months and meanwhile our economy is growing, jobless numbers are going down maybe people are starting to feel better get some encouragement when they see whats going on around us . Brian, you can weigh in on this as well things in europe look better, too. The data has been coming in better. Better economic data. The ecb is all in there and they managed to keep greece in the euro again. To the extent that weve reduced some of the contagion fears, thats good. I would say that perhaps since europe is doing better, that might be a bad thing for the u. S. To the extent theres a certain amount of capital sloshing around the world looking for the best return maybe people take some prompts here in the u. S. And start plowing over to europe. So id watch for that over the next week or so. And europe owes us something because europe hasnt if youve been doing Asset Allocation<\/a> for the last three years, you look around you like my large u. S. Hey, europe except its been outperforming the stock market. If you have been in the dax, youve been a happy camper. Europe is finally doing its job. I think that was the call at the beginning of the year. You have to keep an allocation in europe as a result of that. But greece reminds me of that children. I gave you your allowance, i cant believe what you did with it, now im going to be stern with you this time. We just needed a reason to ignore europe for a while. Once qe starts in march, remember, the money hasnt started flowing in europe yet. The money starts moving and all of a sudden you will really see europe take off and then i think you will see the challenges with the dollar. Kenny . I think youre right. But i think what you will see here is our moshtharket will surge a little bit and get to an overbought perspective. I think it hits some resistance backs off, but i think our market is poised to move higher. By no means if anyone is expecting a big correction, i dont think its coming. Right. In speaking of how europe hasnt done much for people lately the best place to get real yield has been the super risky economies where you have high yields whether its provincial argentina or some of the other bonds that people are looking at. I notice we had a story about dan loeb investing in a rental car company in greece. Thats obviously a place where even at the Angel Investment<\/a> level he sees a prospect of returns. Even russia thats another one thats been in the news. B. K. Is there a greek trade in this for you . Not so much. I mean i think probably if you want to do any trade on greece probably just buy the european equities but you mentioned the dax has done very well. Im not sure that monday morning i go out and plow everything i have into europe. Id probably be a buyer on a pull back. Here is my question kenny, and your statement just reminded me of it. We got the new sentiment numbers, the survey this week it looks like investor optimism on short term stock market prices is the highest its been. Pessimism is the highest its been in three months. Right. Go ahead. Pessimism is at the lowest. A contrarian would say things are peachy in the u. S. And that means its time for it to end. So i think were getting to this overbought position a little bit. So dont be surprised if you see our market back off a little bit. We busted through 2,100. We did it in the last half an hour of the day. Expect maybe we test 2,115 and then pull back. When you think about stock picking which has been such a theme in the last year or so i was looking at the 13fs and some of the trends with you saw especially among hedge funds. It was very, very hard to generate alpha in the last quarter, the Fourth Quarter<\/a>. But to outperform only 20 of the Hedge Fund Universe<\/a> that reports publicly was able to do that. Maybe that meeks negspeaks neck tiffgatively for hem funds or i think its been so volatile. If you watch the consumer ride in and save everybody. Savings rate went from 4. 3 to 4. 9 between november and december. Translation, the average american is putting money in their pocket. When we surveyed them at the simple money Consumer Sentiment<\/a> survey, we said how are you feeling . Are you taking the money youre saving at the pump and doing something with it . Guess what . Theyre not. Behavior has not changed substantially. The money sitting there finally at some point somebody goes at the end of the quarter, hey, martha i have some more money in my account and then youre going to see spending. I think that will take place around the time you might have otherwise seen the market but gasoline is going back up. I dont think so. I dont think so. Well, it already has in my neighborhood. I dont know where youre living. Its still pretty low though. Relatively speaking its still at the low end of the scale. I think we had this discussion last week with stephanie link to the extent that the lagging indicator is really when the money goes from paying down debt or saving into new purchases and we may see that within a couple months. A lot of oil, you know, traders tend to think its going to be a couple more months before we see a bottom. We could see that happen. We have 45 Million Barrels<\/a> sitting around. We get to 56 you will see all kinds of lights going off because then kevin oleary will be right. There will be no place to save it and he will come in with a tshirt i was right. He does that anyway. I know. Energy was the only s p group to finish in the red today. The highest performer was health care industrials, and financial. We saw another decline in crude oil. Is this a good signal we were able to rally so much into record close with a decline in oil . It kind of is right . Again, it was a small decline in oil, but what i would point to is look at what happened in canada today. Look at the retail Sales Numbers<\/a> coming out of canada. Down negative 2 . Anybody who says you know what . Low oil prices are good look to canada. Look to see whats happening there because the canadian economy is obviously dependent on oil. When people say the texas economy isnt all oil, the canadian economy isnt all oil but its still having an impact. While the consumer may spend, that consumer may come out and spend, also remember there are some consumers out there that dont have the cash anymore to spend. And the other thing is even though were seeing rig counts decline and it feels as if production is slowing, its not really because Oil Companies<\/a> are actually diverting their efforts to high producing wells so were not seeing a slowdown in prodirection that would have a longer standing impact on prices. Doesnt it feel like everything is normalizing right now . We got down to an incredible low on the 10year and 30year in the last few weeks. Oil went to those lows. Now everything is starting to come back and it feels like were getting back to our old new normal. Out on main street cincinnati, ohio as everybody was freaking out that all of a sudden oil prices and gas prices went down. Were going wait a minute when we were high they were told to conserve. Now gas is getting cheap, theres no problem. I think this time around as gas comes down well be able to adjust to it because i think weve taken all the High Yield Energy<\/a> bonds, thrown them out the window. Weve said here is where we are today. This time it will be good for everybody. But listen dont discount the message that came out of the fed this week. They essentially pushed that you have june rate hike right . Once again did they do you think . I think that was really the message. I took it as they pushed it off you and the market. I think were just going to let this sit for a little bit longer until were a little more sure. And is that positive or negative for the stock market . I think that ends up being a positive because rates stay low really . Do you think it really matters whether its june for september . I think it does. Ill tell you why. You look at the 10year treasury its priced theres only a 20 chance theres going to be a rate increase. If we do everybody will be Walking Around<\/a> this floor going what happened . I didnt see that coming. Assuming youre long the market, what do you want to hear janet yellen say . I want her to reiterate theyre concerned about whats going on in europe they want to make sure that situation doesnt implode because then we dont get dragged into kind of a black hole in that case and thats what i heard the other day. Listen, the other stuff is our macro data in this country comes to come in very mixed. So, therefore, i think after we spent all this money, shes going to err on the side of caution before we even starts something. Even a raise of a 25 basis point, the fact is psychological it becomes the move. Thats why the data releases are going to be so important. Thanks, everybody. Stick around and catch brian kelly coming up a little later on fast money. Hell be there at 5 00 p. M. Theyre talking to the former General Motors<\/a> chairman bob luts about lutz of apple getting into automotive. Im sure he loves that idea. Kenny p. See you later. Cartel. Cartel. Of course that word conjures thoughts of global drug rings or part of a Popular Video<\/a> game grand theft auto. But opec would be the other thing it would trigger. According to one energy executive, it is also the blueprint the u. S. Should be following. But would that be really legal . A north American Energy<\/a> cartel . Well discuss it. And what would we call it. First the labor dispute clogging the west coast ports and now washington is making threats. Well have that story, very important, coming up on closing bell. Aflac what are you guys looking for . Claims legend has it these hills are full of em. It can take months for an Insurance Claim<\/a> to surface. Claimin takes patience. Aflac paid my claim in one day. They got some newfangled kinda one day payin machine . Hehehehe yea, i got aflac at work. Aflac. In just one day, we approve and pay. One day pay, only from aflac. Aflac. The port showdown simmering on despite conflicting reports of them coming to a deal. Now washington is making new threats in an effort to get the sides to agree on a new contract. Jane wells has been monitoring the situation. She joins us now from los angeles. Where do we stand . We know talks are happening and we know there is no deal yet, at least as far as we know. Despite the presence all week of labor sect tomretary tom perez. Bb and t market says kfc is flying chicken wings to china and automakers are paying up to 600,000 to charter 747s to play in parts from asia to here. Fuji is baypaying 60 million a month for air freight and bed, beth, and jondbeyond saying sales may take a hit because the slowdown has caused a shortage at warehouses and stores. Another company taking a hit, master craft furniture in oregon. It manufactures upholstered furniture for ikea. We lost business starting right in january. We ran out of raw materials, and master craft had to lay 180 people off for 2 1 2 weeks in january. The fact is that we are working probably three days a week which has put a real krism in the paycheck. We work paycheck to paycheck. If no deal today, the labor secretary has reportedly told both sides theyre going to have to come to washington to continue talks on monday though its not clear why they cant talk through the weekend. Also what we do not know yet, and this is important, will the employers, the Pacific Maritime<\/a> association, stop work on ships loading and unloading again this weekend because thats extra pay and theres such a backlog. We have had no word on whether they are going to stop work again this week in making a bad situation worse. Guys . Like they did on president s day week. Because the pay would have been too high for the overtime. Thank you, jane wells. Keep us apprised maybe they should send them to brussels. Why is sending them to washington going to help . Stay in san francisco, get some work down. Kind of unbelievable its more costeffective to fly some of these goods across the Pacific Ocean<\/a> than to live with the possibility of a slowdown in sales. They need their chicken wings in china. Its remarkable. Well cross the country and get some reaction from someone who knows how the inner workings of parts on the east coast really work and whats at stake for the west coast ports. Maybe we could use the port of virginia. In a cnbc exclusive we welcome port of virginia ceo John Reinhardt<\/a> reinhardt. Do you find yourself thinking there but for the grace of god . What i hope is common sense a found and a decision is made and a compromise is reached because whats going on on the west coast is disruptive to our whole economy. So its critical infrastructure. You cant replace it in the supply chain. So what we need to see is a compromise by the parties, the pma and the ilwu to come up with an agreement so they can get back to work. Why is it happening out there and why has it not happened in your area . Well the last labor disruption on the east coast was in 1977 so we havent had a work disruption but why . Out there they have had the same issues you find anywhere. The pay, the hours worked the benefits. Now theyre wrangling about binding arbitration, but why hasnt that been an issue for you guys down in virginia . Well, we operate with the ila, its a Different Union<\/a> on the east coast and the gulf coast. We also have a contract cycle but we just set our contract in 2013. So were set until 2018. Thats why we have peace now. John Nathan Bachrach<\/a> have wages risen for your union and kept up with inflation, kept up with management increases. By whatever measure, are your Union Members<\/a> more satisfied than they are on the west coast and they have certainly a different standard of living on the west than they do on the east . I cant comment on how happy or unhappy. Obviously theyre not satisfied with some conditions on the west coast but your rank and file. Our rank and file has continued to see increases. Theyve kept pace with inflation. Our work rules have continued and weve done some modernization. So, yes, weve done good things with our labor Union Partners<\/a> on the east coast. John, as i understand it theres a lot more at work here. This has been going on for months now than just negotiations over labor and arbitration. It has to do with the bigger picture, we have aging infrastructure and that more and more ships are coming and our ports are being used more and more. Can you talk about that, how that kind of environment is leading to this kind of conflict . If you look at the west coast, they do more in l. A. long beach than almost all the ports on the east coast because the ships have gotten so large, the discharges coming off the ships are taking more and more time and its consuming more of the infrastructure or the land base side of the port. The east coast is seeing growth in our ships. Were getting 9,000 teus but the west coast is getting 15,000 teu plus vessels. So theyre much larger. When you have that much cargo discharge, you have to have the supply lines move because a port really is just part of the supply chain. You know were just part of the connecting dots between the oceanside and what happens on the inner modal side. We have to size our land base to match the size of the vessels. I think from the investor standpoint what we have to ask ourselves is whats going on in the west coast going to happen in a lot of other companies because management wages have risen by 50 since 2009 and its not a question about sharing profits. Its a question of does American Workers<\/a> say you need to share some of the growth and productivity with us a la walmart. You take walmart the west coast, you find this will be happening to a lot of companies. John, i have to ask you quickly about the weather. I know its been brutal on the east coast, having any impact . We closed for 36 hours because of the snowstorms. Now that causes a cascading affect for our supply chain and were digging out. But i do want to say something, the port workers on the east coast and west coast are highly compensated and well compensated. I dont think a comparison to the walmart wages is an appropriate use of wages no these are highly skilled higher paid unions. I dont know, thank you. Well thank you. Thanks for joining us today. Thank you very much. Good luck to you. Ed a ed aand good luck to you, too. The u. S. Ness, canada and mexico share a continent and grade agreements. Theres a movement to form our own energy cartel to rifle opec. Is that a good idea . And what would we call it . And evan has seen the nasdaq electronic trading site but no one has ever seen nasdaqs high tech secret surveillance room. That is until eamon javers got a look inside and hell take us there when we come back as well. Stay tuned. I make a lot of purchases for my business. And i get a lot in return with ink plus from chase. Like 60,000 bonus points when i spent 5,000 in the first 3 months after i opened my account. And i earn 5 times the rewards on internet, phone services and at Office Supply<\/a> stores. With ink plus i can choose how to redeem my points. Travel, gift cards even cash back. And my rewards points wont expire. So you can make owning a business even more rewarding. Ink from chase. So you can. Opportunities arent always obvious. Sometimes they just drop in. Theres a movement to form our stay tuned. Cme group can help you navigate risks and capture opportunities. 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If you have any sudden decrease or loss in hearing or vision or any symptoms of an allergic reaction stop taking cialis and get medical help right away. Why pause the moment . Ask your doctor about cialis for daily use. For a free 30tablet trial go to cialis. Com kind of like this story. One of our next guests thinks its high time the u. S. And its north american neighbors form their own oil cartel. Our other guest thinks it might raise a few antitrust issues. Joining us now Chris Faulkner<\/a> and mark lapresty. Chris, explain what youre thinking. Its not for price manipulation. The antitrust situation may not occur. We think between canada mexico and the United States<\/a> were producing over 20 Million Barrels<\/a> a day. Opec is producing 30. Its high time we find a legitimate counter balance to opec and the idea of a north American Energy<\/a> confederation makes some sense. Some folks look at me crazy and im not saying it would Work Together<\/a> but we need to talk about what we can do to counter balance what o. Pec and the shenanigans theyve been doing and stop their ability to manipulate the price of oil. I have a simple question. If were not going to talk about managing the price and output what would this proposed new consortium do . It would be an industry Advocacy Group<\/a> . What would be the stated goal . For one thing it aligns the interests of us mexico and canada. For the last six years we fought about the keystone pipeline. It would make a lot of those things make more sense because were in this together. With the reform in mexico their production will rise. The shale boom in the United States<\/a>. The canadian oil sands, production is rising. We can at least act as a standalone unit to opec. As it is now they can run amok and do what they want now with the opec countries. Its for a force to stand up against them at the very least. Chris, its kate kelly from cnbc. Interesting idea here and i hear what youre say being the alignment of interesting with keystone being a good example. And mexico is looking for partners to increase the technology and innovation for getting their own oil out of the ground and many u. S. Private companies have been eager to jump in. One consensus i have seen in the last couple months as weve been analyzing the price of oil and opecs actions is that the u. S. Shale producer is already the swing barrel, if you will. Opec has sort of lots its power as a cartel. Is it even necessary to formalize a cartel on this size of the atlantic or do we kind of already have that power without raising hackles from a regulatory or legal perspective . Exactly. I think the United States<\/a> does have that swing power. I have been saying for years that opec is losing its relevancy. Theyre a bunch of children fighting amongst themselves. The saudis kind of running the show into the ground. I still like the idea of us and north america and the idea of north American Energy<\/a> independence up against what opec has been traditionally as the oil leader of the world. I just like the idea of that. Were talking about the perfection theory and reality. Opec has stateowned facilities and infrastructure and over here all the things that were discussing here are privately held. Good luck. Rome wasnt built in a day, you know. Opec every time they force the price of oil up thank you very much, as the cartel that they are last time i saw it that benefits us here in the United States<\/a> if youre producing oil. Thats right. You raise a critical point in terms of the antitrust issues. One of the ways opec has managed to get around antitrust problems which a lot of people dont know are global. The u. S. Can bring enforcement for a violation of antitrust rule against anywayhere in the world. They are technically a governmental entity. I dont see there would be government involvement of any kind in the u. S. It seems we dont need this now. Were 10 billion barrels away from catching up with opec. Why this . Thats to kates point. Im with kate. We already have it. We already have a good deal. Although theres no doubt the opec holding the line on 30 million in production sparked off this downturn. Congress tried this in 2009 and when it got to president bushs desk, he hans to be a friend of the oil patch, and thats the end of that. Now were drifting off into politics. Mark thank you. Chris, always good to see you. Have a good weekend. We would call it napec. North america. Still to come, jobs are always a paramount concern for an administration but this week an Administration Official<\/a> seemed to say america should stop isis by helping them find good jobs. You probably heard about this. Got a lot of reaction. Well check with meet the press Moderator Chuck Todd<\/a> for more on that coming up. First, it is time for cnbc news update. Lets check in with courtney reagan. Hi, sara. Here is whats happening at this hour. Cisco is not holding settlement talks with the ft c to resolve its lawsuit named at stopping the 3. 5 billion merger with u. S. Foods. Instead, cisco will fight the c ftc and fourt. That kedah is surprised at the decision to fine them. And who says it cant play in peoria peoria. Caterpillar says its keeping its headquarters in Downtown Peoria<\/a> and expanding the corporate campus to include a threetower building. The ceo had complained in the pation about the states Business Climate<\/a> and that state is illinois. Universal Studios Japan<\/a> set a record for attendance. The park has drawn more than 11 million visitors for first time. It breaks the record set in the opening year in 2010. It helps to attract 12 million visitors in the fiscal year that ends in march. Gelt the closing bell returns after this quick break. 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Because barbara and the world just told you how to build a better bike. Theres a new way to work and its made with ibm. High speed trading and the potential for fraud is a mounting concern for traders and exchanges. All exchanges do have measures to combat fraud, but they rarely talk it. Our eamon javers somehow managed to talk his way into the nasdaq surveillance room to get an exclusive look at these operations. Hes there now and gives us an exclusive look inside what goes on behind you, eamon. Hi, guys. Whats going on here is they have analysts looking at whats going on in nasdaq trading globally in realtime. They operate 24 hours a day 6 days a week in this facility to watch for any fraud or impropriety in financial markets. Theyre looking for things like high speed trading and theyre also looking for oldfashioned fraud like Insider Trading<\/a>. Theyre doing things like Background Research<\/a> into the bios of executives of publicly traded companies to see if any of them have incidents of fraud in their background. So much attention on High Frequency<\/a> trading and i asked nasdaqs ed knight what theyre doing to focus on High Frequency<\/a> firms. In the last three years there had been 15 cases taken against those firms. There have been millions of dollars collected in fines. Some of those firms have been removed from the market. On a larger basis, finra and nasdaq together will look at 1,500 Different Cases<\/a> in a year. Perhaps 10 of those will end up in legal action. But our goal here is to find bad behavior, but its also to deter bad behavior. And guys so much of what theyre doing here is about finding the evidence that there might be something suspicious and then forwarding that evidence along to federal regulators like the s. E. C. And also finra and the folks here at nasdaq have told me that a couple of cases that you might have heard of originated with tips that began right here in this room including a 9. 5 million fine against new edge usa in 2013 for failing to supervise clients. A 1. 15 million fine against hap trading in 2013 for what they call cross product manipulation and also a 2 million fine back in 2009 against citigroup for what they called a variety of trading violations. They all began with tips discovered by analysts working in this room in the nasdaq, guys. Kate kelly is dieing to get in on this but i have to bring in Michelle Carusocabrera<\/a>. You have some breaking news this time on russia. Whats going on here . Moodys has down agreeded russia to junk. They cite the continuing crisis in ukraine. The decline in the price of oil. The Exchange Rate<\/a> shocks that theyve had obviously which has undermined russias economic strength, also their medium term prospects. So i have to tell you, the downgrading of russias sovereign debt is a bit controversial because they dont have that much of it. The issue is that they dont have a lot of dollars coming in like they used to and so they have to really figure out where theyre going to how theyre going to put that cash out into the system. Theyre going to have to make choices about what kind of debts theyre going to roll over. But their actual sovereign debt isnt that big in size but theres a lot of commitments for the dollars they bring in. Moodys downgrading russia to junk based on the crisis in crew crane, the fall in oil. They say the risk is rising though its still very low that the International Response<\/a> to the military crisis in ukraine is going to trigger a decision by russian authorities thats going to be detrimental to the debt. Thats their big concern. Thank you very much. Back to eamon javers at the nasdaq surveillance site. Thats what they would call it looking for fraud and High Frequency<\/a> trading. I dont know if im telling tales out of school but you were responding to what the gentleman was talking about of what they were finding and the actions they were bringing against companies. I was shaking my head a little bit listening to ed knight because im sure they have sophisticated systems but given everything we heard in the loost last year 15 cases in three years and fines in the order of magnitude of millions sountz low sounds low to me. Have you heard that from other market watchers you talk to . One of the big criticism of self regulation and self monitoring by the exchanges is they have a built in conflict of interest thats difficult to get around. A lot of folks theyre monitoring are their customers. Outsiders will question whether or not nasdaq is doing enough or built to do enough to monitor their own customers and potentially damage its own profits. I asked ed knight about that and what he said is they have a structure they build out an independent board of directors that monitors them and he says this unit is removed from nasdaqs overall business. So theyre not paid or incentivized based on the jorall business of nasdaq. Its separate. He said theyre trying to do things to keep it outside that conflict of interest, but its one of the criticisms you here. Nathan bachrach. I go back to cincinnati, ohio tonight. Am i supposed to tell everybody monday morning, they let eamon in and other than for a pr move am i supposed to be convinced now that all of a sudden its safe to go out on the investment highway and i wont get run over by Insider Trading<\/a> and somehow the system is a little more fair and equitable than it was friday . Yeah, well look this operation obviously has been in the works since before today, but yeah. What nasdaq wants you to know, part of the reason they let us in here is they want people to see this operation and know theyre on the job. Take from that what you will but they are letting us in for first time they have let cameras in in order to get that message out to the world. Thats what they would like you to hear. I think the bogey for them would be 135 million. Thats what finra fined last year. Interesting. Good stuff. You bet, guys. Crazy story, one Administration Official<\/a> this week said the key to stopping isis is finding jobs for the terrorists. It caused quite the stir outrage i would say even. Well talk to meet the press moderating chuck todd to see how its been reverberating around washington and well also talk about that idea really if its for real about an economic solution to terror. And a friendly reminder the oscars are this weekend. There can only be one winner but dont feel too bad. Those in attendance will receive a lovely gift bag, get this. This years gift bag, the swag bag is worth 168,000. You cant make this kind of stuff up. Well tell you whats in it too, coming up on the hot list. Tigers, both of you. Tigers . Dont be modest. I see how youve been investing. Setting long term goals. Diversifying. Dip you got our attention. We did . Of course. Youre type e well, i have been researching retirement strategies. Well thats what type e s do. Welcome home. Taking control of your retirement . E trade gives you the tools and resources to get it right. Are you type e . Help an oil company overcome minus 47 degree temps, 5 foot ice, and 16 foot waves, to safely keep crude oil flowing 365 days a year. When emerson takes up the challenge its never been done before simply becomes consider it solved. Emerson. We cannot win this war by killing them. We cannot kill our way out of this war. We need in the longer term medium and longer term to go after the root causes that leads people to join these groups whether its lack of opportunity for jobs we arent going to be able to stop that in our lifetime or 50 lifetimes. Theres us a going to be poor people, and por muslims. We cant stop that. We can work with countries around the world to help improve their governance. Web help them build their economy so they can have Job Opportunities<\/a> for these people. Well those comments out of the state department this week caused quite the stir in the political world. Didnt they though. Lets bring in meet the press Moderator Chuck Todd<\/a> and continue the conversation about this. Im just i mean she didnt back down. She still holds this but im surprised shes still got a job. Is the administration agreeing with her by not firing her for saying Something Like<\/a> that or what do you think . They did just hold this whole they had a threeday summit about dealing with extremism, and this was one of the themes that they kept coming back to and the argument is that particularly in among muslim populations in western europe that have been the most fertile recruiting ground for isis, that some of it is, you know, economic or hopelessness or things like this but to say this is the root cause or one of the causes i mean, look this whole week weve had im sorry, i think this has been a bizarre week. Were having these academic debates. Were actually not focused on sort of like the bigger issue. How are we going to stop isis . We never talk about the issue of how some of these extremist groups have been funded by allies or, you know saudi billionaires other gulf state billionaires who have funded madrassma madras madrases over the years. Why were not focused on that, why were not focused on this issue look western europe has not assimilated muslim populations very well. The United States<\/a> has. Guess where the fighters are coming from a lot more from western europe than the United States<\/a>. We had those weird Rudy Giuliani<\/a> comments debating obamas patriotism. Saying he doesnt care for america and i wasnt quite sure how this was relevant but noting he came from a white mother had white extended family and grew up in a white world. He was responding to the criticism that he would essentially making racic comments. Just more evidence of the week weve had. Weve let this debate get out of hand and were not talking about its becoming unfocused. Thisgiuliani thing if he had a black mother what did that mean . Rudy needs to stop digging. I think hes walking into donald trump territory where mainstream people wont take him seriously. Lets bring it back to cnbc territory where we have to have dollar signs in front of the conversation. What about jeb bush invading Chris Christie<\/a> territory in terms of fundraising. I would call it donors being pragmatic. Theyre not going to give money away and they look at Chris Christie<\/a> really hasnt been able to explain a plausible scenario to get the knowledge nation and thats what this is about. Think about it like a venture capitalist is looking for money. You give a business plan, show me that you have what kind of return on investment and right now christie looks like a long shot versus a jeb bush who clearly has an operation put together and you can see a plausible path. And i think, frankly, thats whats happening here. Its not personal to christie. Its business. Any sense of where jeb is on the money raising trail behind some of the other guys, rand paul . Is it too soon to tell how much hes got . Here is the hint i take. Their own camp is whispering, boy, to be a serious contender you need to be able to raise 50 million to 100 million in 2015. What does that tell me . They think they can raise 50 million to 100 million by june 30th of this year. So i think theyre looking for a big number. If you think about it, the bush network in 1999 george w. Bush raised 30 million in this equivalent time period. Were 16 years later. I think 50 million is the floor for jeb bush. I think he could be a i guess hes get the romney money as we were talking about a few weeks ago. I would tell you this the romney money, a lot of that is actually the bush network money. So its all in the family when it comes to jeb on that front. As we knew. Chuck, good to see you. Thank you. You got it guys. Tune into met the pres this sunday. Chuck will be talking to jeh johnson about his dhs budget as well as the terror conversation within the administration. Thats coming up this sunday on meet the press. What do apples dunkin doughnuts, and bicycles have in common . If you think were talking about a new a what . On line delivery service. It says think again. Its oscar gift bags and those are just some of the low end items inside the bag. Well talk to them about everything thats this is going so well. There are some high end items in there as well. Theres a 15,000 trip. Well be back in just a moment. [ radio chatter ] [ male announcer ] andrew. Rita. Sandy. Meet chris jackie joe. Minor damage or major disaster, when you need us most, were there. State farm. Were a force of nature, too. Daught do you and mom still have money with that broker . Dad yeah, 20 something years now. Thinking about what you want to do with your money . Daughter looking at options. What do you guys pay in fees . Dad i dont know exactly. Daughter if youre not happy do they have to pay you back . Dad it doesnt really work that way. Daughter you sure . Vo are you asking enough questions about the way your wealth is managed . Wealth management at Charles Schwab<\/a>. Can it make a dentist appointment when my teeth are ready . Can it tell the doctor how long you have to wear this thing . Can it tell the Flight Attendant<\/a> to please not wake me this time . The answer is yes, it can. So, the question your customers are really asking is can your business deliver . Have you heard of the new dialing procedure for for the 415 and 628 area codes . No what is it . Starting february 21, 2015 if you have a 415 or 628 number youll need to dial. 1 plus the area code plus the phone number for all calls. Okay, but what if i have a 415 number, and im calling a 415 number . Youll still need to dial. 1 plus the area code plus the phone number. So when in doubt, dial it out breaking news. Mary thompson has the story. Bill the stress tests werent expected to be released until march 5th and the results of whether or not the fed approves the Company Capital<\/a> requests on march 11th. The dow jones is reporting that Deutsche Bank<\/a> as well as san tander are likely to fail. The european firms could face dividend restrictions and the failure is likely to be an qualitative grounds. The quantitative grounds is their capital levels. The qualitative is their risk controls et cetera. U. S. Regulators have been i guess you could say aggressive to get the european banks to improve their risk controls over the last year. Keep in mind that santander was one of the five banks that failed the stress test last year along with citi rbc as well as zions bank. The fed declining comments and neither bank returning calls for comment pfr a little bit of saidoff after hours. Not much. Watching those banks. On fire the markets burning up. The cnbc. Com all over the place. Users checking out what was behind the rally while others are looking into the oscars this weekend. Allen joins us to lay out the hot list. One of those market days where everybody is diving into the market coverage. It really took off once the greece agreement was announced. 35,000 readers piled into the agreement. Other stories getting staengs on the sight, economics and business. Its the footage. Footage like this photographs of frozen mailboxes and snowball fights, thats what people are really checking out. I guess to marvel at everything. Finally, oscars coming up. A story about whats in the swag bag thats given to the nominees. They put stuff in there like 75 certificate to nice ambrosia apples Dunkin Donuts<\/a> certificates. Theres a designer bike which has an automatic transition in there, a home spa, a trip to the Canadian Rockies<\/a>. There was a trip to tuscany in there. All sorts of things. 14,000 to go to the Canadian Rockies<\/a> . Its a nice trip. All expensed paid. Allen, thanks very much. You look like youre heading to whistler. Have a good weekend. Ifs cold out there. Yes. Is this the bottom of the cold . So he says. The week ended on a big high in the markets but already all eyes are turning toward next week. Thats because fed chair yellin makes her semiannual appearance before congress to update us on the state of the economy and monetary policy. Will she give us a rate hike hint . Well discuss coming up. A busy week ahead with a slew of earnings to hit the street. Were watching retail primarily. Macys home depot, kohls and jcpenney to mention a few. Janet yellinen heads to the hill. Were looking for hipts of a hate hike. I think the fed will be crucially important. If thats one thing to watch, that will be it. The timing of the rate hike is up for debate. Didnt james gorman said it would be sometime between june and october. Everybody just deal with it. But the timing matters a great deal. I dont know. I deponent i dont know if it does. It matters how aggressive theyll be. Of course her language is always scrutinized. Clearly the fed is concerned about the markets response the first time out. I think theyll do it just as an experiment, even if her dashboard says theres no reason to do it. They will. Lets finally decide were away from emergency measures its only been six, seven years. Are we not out of the woods . Some people think not. Its amazeing. If she doesnt do it if they do it in june right now the bottom market is saying not june. Macys by the way they raised their estimates of earnings on february 2nd four out of the last six times, a cincinnati company. Thats what happens when half the panel are cincinnatins. Thank you. Thank you for having me. Ill be going away next week. Kelly is back on monday. Fast money is coming up. Melissa lee, have a good weekend. Fast money starts right now. Im melissa lee. Heres whats coming up. Breaking lanes this afternoon. Greeces bailout extended for four months dow closing on an alltime high. And tech on a tear. The nasdaq seeing its fifth highest close ever. Well see you which has more rooms to run. Reports apple is coming out of with a car in 2020. Former General Motors<\/a> executive bob lutz says not so fast. Why he doesnt believe the hype. 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