Welcome to squawk box on cnbc, im becky quick with ross westgate. Andrew is reporting from switzerland. Thats why weve got the mountain music. Well get to andrew in a moment. First, the top stories. The common theme here Quarterly Results, shares of google getting a boost. Earnings and revenue topping consensus and perhaps more important metrics, revenue from googles core internet business. It outpaced many analysts expectations. Advertising rates fell less than in proves periods. As you see, the stock was up this morning up almost 5 in the premarket. Ibm shares jumping after the bell. Earnings and revenue beating the street, as well. The Worlds LargestTechnology ServicesCompany Offering a better than expected outlook for 2013. That stock, as you see, up by 4 in the premarket. Also, we had advanced microdevices. It came in with a smaller than expected loss in the Fourth Quarter. The shares were rising in the afterhours trading. You see this morning down about. 4 . Heres the issue companys quarterly expectations in terms of the chips forecast, it didnt meet expectations. Also, amds ceo is warning of choppiness in the p. C. Market as smartphones gain traction with consumers. Yeah, more technology news. Texas instruments Fourth Quarter revenue topped expectations. Theres widespread customer reluctance to order until the last minute because of Macro Economic worries. Theres a mixed picture for you. The giants of technology yesterday actually came in with better than expected news. Thats what really boosted things after hours. Well look at how things will be trading this morning. We also have that flood of earnings that continues this morning. Today on the calendar, we have mcdonalds, United Technologies, motorola solutions, coach, and wellpoint. Just a few of the names well be watching. Then after the bell this afternoon, youve got apple coming out. Still the worlds most valuable public company. The stock fell below 500 last week for the first time in 11 months. Shares have fallen nearly 30 since peaking at 705. 07 on september 21. That, by the way, the day of the iphones release. Joe . Okay. Thanks. I was saying january 23. You know this is the last day it will be january 23 until a year, until next year. You know how weve been saying that about these things, palindromes, we wont see another in 2002 for 90 years. At least 12 months before it is january 23. Lets head to the economic forum. World economic forum. Andrew messaged me with that fact. He is standing by in davos. And andrew, we dont know who you have for guests today. Were more interested in obviously the fashion forward looks youre going to be bringing us. Hopefully youre going to have yeah every hour. Youll be, you know, like when on a variety show. They come out in a different youll do that, right . I got different sweaters for every hour. Different coats for every hour. A complete fashion show from top to bottom. I am wearing, as ive talked a lot about on squawk my tommy john undershirts and long underwear. We need to see those part of the fashion show. Well need to see those. I dont know if well get to that. I wore some of those i dont want to have a Credit Ratings problem. I wore some of those that i was sent. It had instructions, no flap, lift you know, it had things. But i liked them so much i wore them for a week. What . The same pair . Yeah. Oh, gosh. E www no. They do have that they have a smellresistant something, theyre supposed to. Lets no, it only lasts so long. Only last so long. Keep it clean. Andrew, whats the temperature there . I bet its warmer than here. Yeah. What is the temperature sneer about 25 degrees. Cold. Its cold, everybody. Its 10 degrees here. I know, its colder in new york. President obama made his entire speech about global warming, and the next day it was 10 degrees. Anyway, thats neither here nor there. You go ahead. Good news is it is warmer inside than it is outside. Its exactly exactly 23 degrees here, by the way. Thats a heat wave. A quick lay of the land of whats going on here. 2,600 politicians, business people, media all over the world coming here, converging here. Todays just the beginning. By the way, we have a big show today lined up. But also throughout the week. Youll be seeing lord blankfine on squawk, ray dalio, your good friend, sean parker, coming here. Well have a party. We can talk about that. He just had a child, by the way. We have a lot to do in davos. Theres already news being made this morning, and thats coming from an old squawk friend, jamie dimon, who was on a panel this morning talking about regulation, banking, and transparency. And he made some people upset this morning with this comment. Take a listen to it. Businesses can be opaque, theyre complex. You dont know how aircraft engines worth either. We provide a service to you. We make a little money every time we do it. Thats what happens. That that actually had a lot of people frustrated, the fact he was comparing the Banking System to an engine on an airplane and that you dont need to know how it actually works. The big issue, of course, is do regulators understand how it works. He also made another comment trying to defend the banks saying that they were actually a friend of the system and the economy. Take a listen to this one. I think jpmorgan was a was not just a fair weather friend. We were there in good times and bad times for everybody, including nations. For spain and italy we will tell you we were lending 15 billion net of collateral. Net derivatives, spain and italy. Yes, its governments and multi nationals if you want to be transparent. What would you do . What would you all do . If you were my board of directors, its easy to say dont take the risk. Move out. Weve been in spain and italy, one for 60 years, wur finish over 100 one for over 100. Were not a fair weather friend. Companies want us there. We have to manage that risk. Something may go wrong. Got to tell you guys, the feedback after that panel was actually not good. A lot of people criticizing jamie just in the hallways. Obviously a lot of people happy to see him defending the bank. A lot of bankers here. The mood, nature of where we are. There was some criticism. The other big news, by the way, not happening in davos yeah . I was going to say quickly, that may be more a reflection of davos than anything else. I listened to the comments and thought, you know yes. That makes sense. Hes right. Theres a lot of things businesses do that really help us out in a lot of ways. And it may not be popular for him to be saying that, given the the issue that just happened. I agree with him. Right. Should say he apologized for the wale for the bigillionth time. The audience is different here. Its a european audience. Theres a different set of constituents in the audience. The mood and feeling you get here is often different than what you might get in the United States. But its worth describinging whats happening because it does reflect on the global mood. The other big piece of news and then we have a guest next to me, i want to get to him. A good friend of squawk, as well, David Cameron. David cameron making comments in london this morning, saying he is prepared to have an up or down vote on whether britain should leave the e. U. And what that would mean. That has a lot of people talking here about the implications for the u. K. , for europe. Whether we had this big discussion about new york versus london. What happens to the Banking System. What happens to the financial . That is the u. K. Thats become a big i issue. Lets bring in a good friend, as i said, of squawk. Bob hormatz, you know him well. A new not a fancy new title, but youre the under secretary of state for Economic Growth, energy, and the environment. That changed a year ago . Yes, we tried to pull these together. Increasingly what happens in the economy has an impact on the environment. Environmental issues and Energy Issues are increasingly intertwined. Always big in davos. And David Cameron, it has an impact on the Global Economy if this were to go forward. The chances of it Going Forward i think are small. He has to get reelected in 2015 to propose the up or down vote in 2017. It does put a cloud over the u. K. And e. U. A bit. The u. S. View has been not to get involved in u. S. Politics. The u. S. View is that involved in u. K. Politics. The u. S. View that a strong u. K. And e. U. Is good for the u. K. , for europe and the United States. Well let the brits sort out their politics internally. That overall view is one weve been thinking. This f they were to cede if they were to cede, what would that mean . I think its not wise to speculate about what would happen if certain eventualities were occurring, were to occur. And as you say, its too early to make predictions. Let me ask you this i was at a dinner last night with a number of people you know well. Our viewers know well. An off the record dinner. I will say the topic was does globalization still work. You know, this is a place that were looking out where all you do is talk about globalization, people support globalization, what it means. Is it possible that weve run out of string, that it doesnt work the way we thought anymore . I think there are a number of pushbacks to globalization. Particularly as the Global Economy slows down. There are people who are concerned that globalization can have can affect jobs. There are a number of countries engaging in forced localization to force companies to produce more in their own home market than they have before. A number of days in europe where banks number of cases in europe where banks are pulling back from europeanwide lending. On the other hand, Global Supply chains are becoming denser and more intense and greater. Ultimately still good for us when it was working for us, it was working very well. At some point it may not work as well for us. I think it still works quite well for us because 95 of the worlds consumers are outside of the United States. The fastest growth in the world is outside the United States. Particularly in emerging economies. The average company in the United States and elsewhere depends on Global Supply chains. Right. Therefore, its very hard to pull back. There are opportunities abroad. On the other hand, we need to take advantage of the opportunities, but also make sure that we enforce and force wto and others to enforce global trade rules and make sure theres a level playing field. That requires a lot of work with newer economies. One of the big issues in davos, and its actually a pet issue for you, this lost generation issue. Yes. Theres a lost generation, not just in the United States but globally. Its actually you know, sort of teen, 20 years. People in that age group that dont have jobs, and it doesnt look like theyll have jobs. What does that mean for the Global Productivity of the world . Thats a huge challenge because if you look at countries around the world i go to the middle east and go to a number of countries, there are a lot of young people. Its not just the emerging world but greece, spain, many parts of europe. And in the United States where young people find it very difficult to get jobs. And that leads to social problems over a period of time. The longer you find yourself waiting to get a job, the more you fall behind in the experience curve. The other is for the United States, people take out, kids take out these college loans, and theres a trillion dollars worth of unpaid college loans. So not only can they not get jobs, they dont get the experience of that first job. But they incur a lot of debt. Were going to have work with other countries to help them increase job opportunities, otherwise there will be instability. We need to invest a lot more in younger people in the United States, in part to give them an opportunity, but we have an aging population. Right. Whos going to pay the dividends and interest and taxes to sustain an aging population if young kids are not trained in productive jobs . A huge issue. Joe kernens got a question. Hi, joe. Bob, whats going on . Good to see you. Weve got wow, youre getting kind of uppity. Weve got to go all the way to switzerland to get you to come on the show now. Its always a pleasure to come on your show. A good friend, jack welch, i listen to what he says as basically gospel. But not everyone does. He tweeted recently about the inaugural speech and said no mention of Economic Growth or things to spur Economic Growth. No mention really of jobs and the unemployment rate. As the under secretary of the treasury for growth, when do you actually kick in to action . You can probably coast because we probably wont see any for a while with the latest policy. But do you get called into action when there is the prospect for some growth, or when do you actually start working on that . Well, i think theres going to be growth. I think, in fact, growths beginning to pick up in the u. S. Economy. I think the Energy Revolution in the u. S. Will be helpful. I think corporate Balance Sheets are in good shape. Housing markets going to be coming back. The part im involved in is really on the international side. And that is weve been doing a great deal to increase exports. The president had a goal of doubling exports over five years. Were doing very well in that area. Were beginning to attract more and more Foreign Investment into the United States. Were also beginning to encourage American Companies that have been investing abroad to come back. All those things will be good for growth. Were you disappointed dont you think you could have talked more it growth instead of just expanding government . Isnt that really couldnt we afford all these things more easily if we were growing at 3 or 4 . Im wondering, the governor of nebraska now, i guess, said that the excel pipeline should go through. What do you think that obamas going to do now that he talked about Climate Change the entire time, will he build out Hydrocarbon Infrastructure in terms of jobs, or will that fall by the wayside now that hes got a new term . Im going stay away from the pipeline issue. Let me make a few points. One, obviously the faster we grow the better it is. But there are a lot of things that the president has advocated that will strengthen opportunities for growth, more investment and infrastructure. Its critically important. Not only to be creating jobs but to making us a more productive economy. There has been a big increase during the ibms first term as president in increasing lng, tight gas, fracking, theres been a lot of work done to make sure that were doing that. But also in an environmentally responsible way. So i think a lot of the things the president has done have enhanced the prospects for growth in the second term and beyond. And he wants to invest more in the United States. I i dont think hes antigrowth. I think hes progrowth. But i think hes particularly focused on investing in the u. S. To give us a sound basis for growth. And also i think youll see over time that there will be a greater effort to put our economy on the sounder financial footing which i know we intend he intend to do. Its going to take a lot of work with the congress. Before you go andrew, im more go ahead. Im more worried about texas leaving the union than than Great Britain leaving the union. Yeah. And the u. K. After that speech. Yeah. All right. Sorry. Im not worried about any country state leaving the union. Im, in fact, more and more interested in attracting Foreign Investment that creates jobs good luck. Into the union. I think beef actually done that. Thats coming more and more. Im going to india. More and more Indian Companies are interested. Companies from all over the world see the United States as an opportunity. We still have good corporate management. We still have a lot of innovation. There are a lot of companies that want to come to the u. S. And now with the opportunity on on energy, thats very important. The one point we also have to realize, energy itself is not a panacea. We have to place a lot more emphasis on human capital, particularly educating younger kids, not just collegeeducated kids but kids who get good Vocational Training for the kind of jobs that were going to need. Were going to need to not just rely on energy but a whole lot of other things to make us competitive, including infrastructure. Okay. Were going leave it actually, one final question. Hillary clinton, hows she feeling . Hillary clinton is feeling great. We just had a ceremony where we gave her a football helmet for her to wear around the house. But she has done a fabulous job. Shell probably be leaving soon. Well all miss her. But i think one of the things that shes done and i want to emphasize this, the state department now is playing an active role in supporting American Companies around the world. And i think that is one of the very important legacies. Other governments are supporting their companies, the state department and other are you going to stick around . I hope to stay around for a while longer. I imagine we may see you on the squawk set. Thank you very much. Back to you. Becky and joe. Okay. Thank you. Well check back with you. Did