Again, those dow futures down by 137 points below fair value. The month is wrapping up today and so far, the stock market is down about 3 this week. We know that old adage, as january goes, so goes the year. That statistic has been right 62 of the year. Well see if that holds true for this time or if this happens to be youre looking at a correction at the beginning of the year. We saw so many gains as we ended last year. Take a look at the treasuries. The tenyear note is at this point yielding 2. 674 . So below 2. 7 . So well have to watch this closely. In europe today, stocks are lower in the early trading. Among some of the reasons listed, eurozone inflation data missed expectations. You can see the biggest decliner there is the dax in germany, down by about 1. 3 . As for asia overnight, it was a quiet session. Trading volumes were very thin because of the Chinese New Year holiday. That had shanghai, hong kong, south korean markets closed. The nikkei finished down for january, more than 8 . Were thinking 4 declines are bad news. Look what happened to japan. That makes it the continents worst performance. We have a couple headlines for you, three big ones. Google, earnings missing the mark in a very big way, but quarterly revenues beat the street. Ad growth outstripping a steel decline in prices for its online ads. Gene munser is going to join us with his take on google in just a moment. Amazon shares were hit hard in extended trading quarter. Results falling short of expectationes and the Company Offered a weak revenue outlook. During a conference call, amazon said it may increase the cost of its popular prime Subscription Program by 20 to 40 due to higher fuel and other shipping costs that will hit folks like myself. People thought they were going to do really well over the holidays, at least on a relative basis. Were going to do more on that story in the next half hour with an analyst who covers amazon. Then theres microsoft, the company is now close to naming Satya Nadella as ceo. Cofounder bill gates might even step aside as chairman. I still cant get over that. That was what everybody said, nobody wanted to be a ceo when you have a chairman with such big ideas and so much power. Hes still going to be on the board, but i would assume thats an interesting dynamic for that to happen. Nadal la. This news started to leak out yesterday. And youre seeing its stock up slightly. Steve balmer said if im going the leave, the reason im going to leave is we need to bring in a new voice. New blood. Anywhere you get there, new blood, potentially. Potentially. Right now, lets head down to new york and check in with joe. Joe, good morning. Are you watching the markets this morning, too . Its january 31st. We are down 4 at the beginning of yesterdays session and we got back 20 s p points, which got us back, i think, 1794 or something. But were going to give it all back this morning. And be back down 4 on the opening, it looks like. I was watching, more concern at the top of the show. Andrew, were you in my spot . Were you standing on my mark . I was. Yes, i was. That is true. Hard shoes to fill, no less, too. Dont ever do that again. You wait until you see who we put in your chair today. Im in andrews spot today down in new york. I know. Middle west high. I also heard you say, andrew, i couldnt help it. Tech titans. I heard from, from my spot. Anyway, i just as a tease, are you going to do the toboggan in the middle of times square . I thought about that. Everybody has done it. Im not following all these other schmos. Oh, come on, have a little fun. Its a morning show. Ive seen all the other ive seen all the other morning show guys do it. Thats what i mean. Im going to follow them. No, what i am going to do is show you where im standing. Im on the ninth floor. I came up to the eighth but im on this balcony at this prestigious place called the nfl house where you have to be a i dont know where i am, actually. You have to be a current nfl player or a former nfl player. Its a great place to hang out. Theres pool tables down here. Those are ottomans that are like xlviii. I dont even know how to pronounce it. Do you know how to pronounce it, mac . If you mess this up, im going to throw you over this balcony, which ive heard recently. Anyway, that is for super boel xlviii. Sometimes times square has been renamed today super bowl boulevard and 14 blocks of it will be shut down starting at noon for all the different Outdoor Activities which wont include me on that toboggan run. I might try a field goal. You can try to kick a field goal through the uprights. Then coming up later, we have a lot of the big mucky mucks of the nfl. A bunch of owners, the new york giants owner john tisch, eddie johnson, the ceo of the new York New Jersey super bowl committee, kelly. Also bob kraft will be joining us. I dont think woody and kraft will be on the set together. Thats a friendly rivalry. The patriots didnt quite make it, but they had a great season. Youd have to say that the jets had a much better season when it was all said and done as they expected at the beginning. True. But we will be obviously, the super bowl is a huge cultural event. I think 550 million for this area. So its something that we want to cover, but we are i daresay im not going to say it. Many eyes are going to be on the markets today, which what happened . Up, down . This is the new normal. Its volatility. I was looking everywhere to try to find a reason for it. There is not an instantaneous clear answer. Turkey was there yesterday. We change our mind on turkey about 13 times a day. Unless the currencies get worse. Well, im here. You guys focus on the serious stuff. Im going to do football today. Xlviis that 48 . Yeah, thats 48. Yeah. I always except trying to pronounce it and someone told me its roman numerals. Its not like english. Ive got it. Its tough to read in the prompter, though. Im going be really disappointed if you dont do the toboggan run. Im not doing the i read like eight im not following steve ducey on the im not. Im just not going to. You can do it your own way. Go face forward. Maybe do it at the en, at the end of the show. We will see joe slide down the thing. No. You can wear a football helmet and go face forward. Ill think about that. I might shoot some pool. Thats about as athletic as im going to its not nearly as dangerous, but okay. Its not dangerous. I saw normal people going down. Youre just afraid. I resemble that. Its cold. It is cold. Im in a vip place. Im very comfortable here. I hear that. Joe, well check back with you. Are you going to keep the blazer on the whole show . Its no blazer. Yeah, i might. Im going to see. The markets are down, this is serious. Maybe ill keep it on. You like an nfl announcer there. Lieu good. Thank you. Chris collinsworth. There you go. Hes the man. You know, i saw marino yesterday. Oh, did you really . I was down here and talking to contino and others. Im telling you, marino is a monster. I asked him to come on. Hes doing cbs. I know him from a lot of things. But hes doing cbs this morning. Hes been on squawk box. He hits it a ton. Anyway, go ahead, take it away. Well check in with you in a little bit. In the meantime, lets get the Global Markets report. Lets take a quick look. Dow futures are down by about 142 points below fair value. Again, there doesnt seem to be a clear reason for this overnight, other than anxiety that has crept into the markets and brought volatility with it. Multiple times through the day, youre going to see these swaps back and forth. But there is not a great sign as we head into friday, which is the last trading day of the month. January has been hit pretty hard. The dow looks like its been down about markets are down about 3 . With these losses this morning, youre looking at declines of about 4 for the month of january. Oil prices, youll see wti is down by about 42 cents. 97. 81. The tenyear note is still yielding below 2. 7 . And the dollar this morning, obviously, a very volatile place, the currency markets. The dollar is up against the euro at 1. 3533. Dollar is down against the yen at 102. 38. Probably we should take a look at the turkish lira. You can see how those others are trading. Also, lets take a look at gold right now. Here we go. Emerging currencies, you can see the turkish lira down a little bit this morning. Argentine peso, up barely. So not massive moves. In the ukraine, the currency there is up by about 2. 5 . Gold prices this morning, indicated up by 0. 2 . 1,245 appear ounce. Karen tso is standing by in london. Karen, the action there this morning . Thank you very much for that, becky. As you can see, a lot of red across the screens here. Investors still concerned despite the moves by many of those emerging market currencies to try and calm some of the sentiment. Its made not much difference here today. Investors still taking money off the table. The data points have been fairley decent. Weve had eurozone december jobless number at 12 in december steady from november. Ive had the best reading on uk Consumer Confidence in about six years. Its made no difference to the markets. The stoxx 600 still down 0. 8 . One in positive territory is household goods. This is because of the luxury sector. Weve had moves out from lvmh. It shows some stabilization. It is right at the top of the stoxx 600 today. The sales are up 3. 7 . If i could just throw one more set of numbers at you, if you take out all the volatility on acquisitions and Exchange Rate fluctuations, sales are up actually 8 . So showing that there is some stabilization in the luxury sector and not so for investor to do, a little bit of a uturn, consumption out of developed markets. Even though consumers forced less cognac, it was the americans by hennessey that boosted the numbers. Its pushed up numbers in rival companies, the likes of ma, karen. Let met send it back over to you. Thank you for that report. Were going to talk about google for a moment now. Their Fourth Quarter revenue beating the streets expectations, but earnings falling short of analyst predictions. Gene covers that company for piper jaffrey. Good morning to you. Good morning. You seem not to be worried or upset about this at all. No. Part of it is a shift in the theme, i think. And this is really the company talked about it last night. This is not about any metric. The metrics were generally in the right place. I think the theme that theyre talking about is living with the user. And what that means is theyre taking themselves out of the mobile versus desktop argument. Theyre focusing on being everywhere that youre at. Cross platform, whether its ios or android devices, tv, glass, your thermostat, your car eventually. And so the reason why were optimistic today is more about taking a step back and getting out of the mobile versus desktop perspective and looking at google as a utility to your device and the questions over the next few years. I saw that in your note. What struck me as curious was the idea that somehow this was a new revelation. Google is talking about itself differently, even though i think we all knew directionally this is what they were trying to do the whole time. We knew directionally, but from investors perspective, and the company had talked about that. They emphasized they package it different with this living with the user concept. But investors have been focused on these enhanced campaigns. And basically, thats this platform thats going to make it easier for advertisers to monetize mobile. And so i think its it is an important shift, i think, for investors just to get off the enhanced campaign focus in more on just a broader theme in the broader ecosystem of what theyre trying to accomplish. How much should we care about cpcs and click throughs . Youve got to look at them in the context of those together. Theyre important, but together. The simple take is cpcs were a disappointment. I should have explained that or i should have explained it, actually. Thats cost per click. Its what google gets paid for each click. Those are down 11 year over year. Theyve been down for nine sequential quarters. But if you look at the paid growth, thats been in the 30 range for those same quarters. Previous to those nine quarter webs pay clicks have been 18 . In other words, people are using kwoolg google more. The engagement has dramatically increased. Theyre getting paid less. But engagement is critical. Gene, we have to run. Just one last question on the sale of the motorola business. Does that makes sense to you . Are you disappointed that they bought it to begin with . How do you look at it . We look at it, investors really didnt care about it before. They really are not caring about it now. At the end of the day, google does a lot of crazy stuff and i credit them for getting out of it. Its probably the best thing. But you put it in the mistake category. Its more a mistake, yeah. Its a lot of work for nothing. Thank you for joining thus morning. Appreciate it very much. Thank you. Were going to get back to joe in my hometown. Joseph. Im trying a lot of different way toes sit here. You know, these chairs. Anyway, is this too casual, do you think . No. Its giving you a straight back, which is good. Which is rare. It might try this for a while. Anyway, football, you watch those shows, theyre very casual. Its not about the messenger, its about the message. Yeah, but its a practiced casualness. Yeah. Maybe. Anyway, coming up, were going to talk about nfl and its social game plan. Weve had this guy on before to talk about who is in charge of all the leagues sweettweets. Digital media and everything in between. But something tells us its all about the weather, but the worst case scenario. I see things that start with a four, alex wallace. Its like 40 degrees. It doesnt look too bad for sunday, does it . Not at all. Currently, it could have been a whole lot worse. Were lucking out this year with the super bowl in and around the city. Here is how the forecast is going to shape up with the south, which has been dealing with its issues of winter. The pattern has pretty much set up where the cold air has been in place and that led to the issues with the wintry stuff around atlanta, birmingham. Now were going to watch the jet stream move forward. Warmer conditions into the south. Thats going to be good for super bowl fans. All right. We have some snow out there, though. Moves from the rockies into the middle of the country inspect is going to be our next weathermaker as we head through the weekend. Snow throughout the plains in the midwest. Well have to see that increasing tonight. Including chicago, eventually getting over towards detroit. Tonight into our saturday, well be talking about decent totals. Chicago could see 5 to 8 inches of snow. More squawk box back in a bit. Announcer before you hit the road, here is your travelers check. Heads up, business travelers. U. S. Hotel rates are on the rise. The average price for one night reached a record 110 last year, according to str. So how much revenue did that mean for hotels . Find out, next. vo you are a b. Seeker of the sublime. You can separate runway ridiculousness. From fashion that flies off the shelves. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. And only national is ranked highest in car rental Customer Satisfaction by j. D. Power. natalie ooooh, i like your style. vo so do we, business pro. So do we. Go national. Go like a pro. Back now with todays travelers check. How much did u. S. Hotels make on room rates alone last year . 112 billion. This is squawk box on cnbc. Once again, joe kernen. Wow. Thank you for that voiceover. That was nice. The nfl expanding its digital offerings with a new personalized video service. Its called nfl now. Brian rollout, the cfo of nfl media. Good to see you. Good to see you again, too. Weve got to talk about the new personalized service. And i know it was off camera, but i said so i can follow the bengals more closely and you kind of looked at me and said, well, if you want to. You didnt that wasnt for everyone to hear. But i know what youre saying, believe me, after another disappointing postseason. But how does it work . And then well talk about some other things. But what is it . What it is, were really excited about it. Its called nfl now. And essentially it is a video service. So video clips, streaming video that you can get on any device. Whether its your smartphone, your xbox, whether its your tablet. You go on, put in your personal preferences. In your case, you light the bengals, but you may also like the jets, you may like the cowboys. And you get personalized content served up to you from nfl films. Were going to do highlights as well as club content. As you consume more, you tell the app what you like and its going to serve you up more of those things. We see what you start and what you stop. And depending on your behavior, were going to serve you a customized content just for you. In addition to what we talked about the last time, are clips being tweeted out from different games that are that people need to see . Is that in process . Can i do that somehow . Yeah. Look, twitter is a big platform for us where we will push out to our millions of users on twitter highlights. Whether the game is happening or its happened before. Are those customized or not . Theyre customized depending on what twitter feed you subscribe to. You may subskriep to nfl network, nfl films, we have different twitter feeds. But the difference between that twitter and what were doing on nfl now is nfl now is customized to you. So you cant tell twitter you like the bengals. Punish may get a bengal tweet and you may follow the bengals, but you may tell nfl now that you like the bengals and youre going to get those highlights and youre going to get the story of the 83 bengals from nfl films. Its more highly customized. Any business that ignores digital or ignores the future, they do it at their own peril. But then again, i think businesses are suited for what they do right now. And i think the nfl and the video experience, this all seems like a way to augment the main part of the experience, whichist still going to games and watching games on a big screen tv. Instead of just augmenting that, will it ever be bringing in material for anyone . Well, i think digital brings in revenue, without a doubt. And its some of the Fastest Growing revenue we have. Fastest growing, but still minuscule, isnt it . Relatively speaking. We make lots of money in traditional media, television and otherwise. Look, we still think the best way to see a game is go to the stadium. We think the second biggest venue is big screen television. We think this content supplements and grows what you see, but what we really see is fans dont they consume more in addition to the game. Theyre there monday through saturday and in the off season. And digital really helps that happen. It empowers all of that. Can you tell from i know im not an expert. Things trend on twitter or whatever. Sure. Outside game, controversial, maybe they dont you know, maybe tickets ar