Smuck smuckers. And target. In the senate, falling one vote short of the 60 votes that were needed to approve construction. Andrew. Well continue to talk about that subject in just a little bit. But in the meantime, teaming up to take said to be offering more than 7. 5 billion to other pea farms working on their own joint bid. Cutting costs, changing its management team, its cfo is retiring after 32 years from the country. Among the bucket cuts, getting rid of its plane. What are you giving me a look for . Im not looking at you. Boosting results. What time is it . And then we should say barrett gold naming a new ceo city latest shake up at the miner. Jack in the box. You breathed right through jack in the box. That was no problemo. In terms of im a chipotle man. Its there, right . Its difficult. Qatar, but no one knows how to say that one any more, right . I think we should tell people just about the we were just saying there was a shakeup going on. Why . But if we go higher, barrett gold. Oh, not a qudoba. Not a qudoba. It looks weird in the prompter. It does. B but you look like you have a alternative ya now. Oh you threw your back out trying to do that. Barrett gold naming a new cfo. The latest shakeup with the miner as it deals with the lower prices. One vote. It could get vetoed by the president. But youre missing the whole point here. This it will be much easier for him to veto it when its the republican14 sneeze. The last one, dick thurman, they doevent want to send a bipartisan bill to obama at this point. Right. Because he been the criticism, it would have been westbound much more by part sap well, theres a we know whether or not youll have anyone step up. There were a significant of them able to say it now. But in january what do you mean need 60 . Need 67 to overright the vote. The republicans will have 53, right . You wouldnt argue this is theatrical . I was trying to figure out who it hurt. They say it hurd landrieu. And she needed it. And now other people might think he would okay it before the next hes always h a political reason not to approve it, which has gone by the way side. So they wont override it. They didnt want to send a bill to his desk that was bipartisan. She thought she had 60. But dont you think keystone has become a symbol . Im not saying that we should or we shouldnt do it. Come on, weve talked about infrastructure. People are asking whether the payback to buffett is supporting obama because he moves all this by rail. Youve seen all that, right . Hes also said hes in favor of it, that the keystone should pass. Check on the markets this morning, i will adlib now the futures board as they come up. Down 10. Actually, they play the music either way. We kind of like that music period. You do . Yeah. Better than the happy yeah. We have a different audio guy, so dont expect any help today. There you go. Whoa. Prices going down. Kind of flat this morning. I saw walking in here is that the fed saying oil prices were going to possibly delay, right . They dont need to do anything in particular. The rationale would be and if theres no inflation and we still have some people looking for a job, why not why keep it low if theres no problem . It was a moving target constantly. First it was the employment number and the day. You know the dow hit its 26th record of the year yesterday and the s p, its its 43rd. Thats weird. One has 17 more. Anyway, its the tenyear. Check out the tenyear today. 2. 32 . Thats going nowhere fast, again. Blths ate down after that. Check out the dollar, 1. 25 now. Gold has had a little mini rally off a low. And today it is up 3. Back to 1200 right now. You can see on the very right hand side that its bounced off the lowest level its seen in more than a year. Sdmrernings this morning, lowes beating the street by a penny. Quarterly comps, risel about home depot. Nis of out of japan. Kaori likes us live from techniqueo. The bank of japan is committed to keeping Monetary Policy super easy until they reaching that goal, saying 1 cpi could strip below that figure in the near term. But this was a very difficult press conference for the governor of the bank of japan because it comes just one day after the government, shinzo abe, delayed the tax plan. And why this makes it a very difficult situation for the governor is because last january, the government of the bank of japan did a deal. And the deal was the government would do its part in terms of fiscal reform to try and clean up its finances and the bank of japan, on the other hand, would continue to pump money into the system so it doesnt get into a situation where its criticized for monetize onning the debt. So that approach was supposed to be twofold. Here we have the bank of japan last night backtracking effectively on the fiscal reform agenda because theyve pushed off the tax hike. Theres concern that theyre doing the stimulus, whether the easing is the thing to do. So the bank of japan wasnt overtly wab and they need to the stick with that. I think this puts real pressure on the bank of japan as to whether or not this is a good move. Particularly if you have japan trying to stimulate the economy. Theyre going to be firning more debt over the next 18 to 24 a month. And this raises the specter he a downgrade on the credit rating. And a lot of economists we spoke to today suggest it has such, which would make it extremely disks to finance the debt, which is already extremely large. Kaori, thank you. An excellent description of whats been happening. Thank you very much. It would be hard to imagine yellen and president obama reaching a deal like that. It seems like a crazy deal to begin with. You cant count on the fiscal authorities following through on any of that stuff, anyway. That is a truism. In fact, to me, it was the s. E. C. Cant possibly do that when theyve been ordered to do that. Theyre an independent agency. Watch it. Watch it. Michelle Caruso Cabrera is here. Were going to continue this conversation. Why should the u. S. Investor care at this point . So we constantly hear are we becoming japan . Japan has printed tons and tons of money. Theyve had Interest Rates at zero for seemingly forever and, yet, the economy doesnt grow and inflation doesnt happen. I did a hit about a month ago. I said you want to know how to create inflation . Its very easy. Look at what venezuela does. They deficit spend and they print money. Bam, inflation of 55 . Guess what . Japan has been doing the same thing and they have deflation. Why the difference . Here is the one criticism economists have of japanese skiel quantitative easing for a long time. They say they never for a very long period of time or for enough of a period of time achieved negative real Interest Rates. Real Interest Rates. What do we all think inflation is going to be . Interest rates that you would get at a bank have to be lower. So the expectedations are so low, you cant get underneath them . If you think inflation is zero, 1 looks okay, right . Because youre making mow more than zero and what your money would do just sitting in a bank getting nothing. But after 20 years and after how that changes the mentality over essentially a generation right. The idea of trying to fall beneath that right. If you collectively as a society think, well, inflation is never happening. And im used to a 150year mortgage that im signing up for. I know i will always live with my parents and my child will listen to me. Or why would i buy a price. Come on, youre the one who puts half a tank of gas in because you were returning the car and didnt want to get your 13 bucks. So you highlighted this about this deal between the Prime Minister and the head of the central bank. Lets bring up the quote specifically that i say kuroda. Kaori enjo jojoji says so this is what the bank of japan governor said. He said fiscal discipline is the responsibility of the government and partment, not that of the central bank. Central banking culture is nonconfrontational, right . Everything comes out mono tone. Today is my birthday. My puppy died. Happy birthday. Thank you very much. My point is that for him to say that is a strong, strong statement. Isnt today just of failure of piece . I saw that. She did a lot of things in 20 years. They were slow, were they not . And then they also didnt clean their banks up, right . Didnt they let things fester for years and years and years . The phrase zombie banks define japan. Draw a line between qe not, wog for 20 years, its just not i agree. Thats the keynesian spending, as well. Have you turned 40 yet . I am so flattered by that question. Is today how old today is not your birthday . Today is not my birthday. I was making a joke. The way central bankers talk all over the country regardless of the tone is mono tone. And her puppy didnt die, either. You dont have a dog, do you . No. Everybody does. Theres two petsmart, what is the other one . Pet co. You know what . They need to create better names. One of them has the right filter for my aquarium and one of them doesnt. You should call henry travis and let him know which one. Nadally was early on in this. If you see the afghan soldier that was reunited with us all again yesterday, you see what animals he had ptsd, he was injured. Hes no longer no longer sitting in dark rooms. Hes now out with a dog smiling. The dog hadnt seen him in i cant talk i cant hadnt seen him in two years. In 25 yards, he said hey, maddie. Its love. Its love, appeared rue. I would love a dog. My travels wouldnt like it. Its unpredictable. People spend more on dogs than on themselves sometimes. Anyway, u. S. Stocks you really got emotional about that. I can see it in your eyes. I did. I love dogs. I have two dogs. My german shepherds are the most phenomenal dog ive ever had. Anyway, u. S. Stocks hitting alltime highs. Love my daughter and my wife a lot, too. And my son. Can markets keep rising here . But do they wag their tail when you walk in the room . Oh, my gosh. Theyre all joining us now, another guy that is jay kinahan, chief strategist at td ameritrade. Its usually the stuff you you say, joe. I think i came in on a hallmark moment. You did. It was jury duty. I think as you get older, you do get more emotional. America the beautiful, its the greatest system and greatest country. Anyway, a great stock market. Indeed. Great stock market and we actually had you in the middle of that 9 correction. And i think at that point you thought the vix had probably popped out and now it is back down. What should we expect for the rest of this year and early next year . Well, you know, ive been calling in this little engine that could. No one believes it can keep going and it continues to do so. I still believe people are very much underinvested, joe. Really . Yeah. They still have a lot in the fixed income and havent rotated everything over to stocks. And so, you know, there still is this end of year money that may come into stocks. I know you had mr. Siegel on your air yesterday talking about perhaps the dow trading 20,000 by the end of next year. Just to put that into perspective for people using options, that would be about a 24 probability that will touch there between now and next december, the 3rd friday of december which would be december explorations. But anyway, going forward, joe, there does seem to be momentum into the end of the year. You cant discount any of that. Theres still a lot of goo political risk. But overall, the earnings season was really good. And i think that one of the things that we saw in this past earnings season, which is interesting to me, was a tone change in how the ceos talked. About nine months ago, they would lead with what was going to be the head whippeds against them, things that were going to get in the way. And this earnings season, the ceos, they first talked about opportunity. So i think were seeing a real difference in how people are thinking about opportunity for the rest of the year and going into the first part of 2015. Every year at this time, we usually have people in here explain yg Portfolio Managers arent going to buy stocks that are doing we will at the end and they always seem to do it. If youre on new highs, you need to get it into your portfolio. I do expect it to happen, joe, actually. And i think it may happen on more of high yield stocks. The ten heavy is not done much. And so with that, people are going to hint for that. So stocks get paid 3 the , 3. 5 dividends are very, very atrafficive. I think well are more interesting to take a risk there. Joe, the why did you down there . A coming vengz. Is that a fair shot behind you . Thats not real, is it . So no. Its a fake shot. Its the ritz. I dont know where i would question your ability to you know, i should just yeah. Its a ritz. You have either been there or have it was a great conference, joe. Ben bernanke, mohamed elerian, collin powell. What about der unanimousky say . You know, he was on a panel and as michelle said earlier, former fed chairmans send to be monotone and very guarded when they speak. I sat next to your own scott wapner. Bernanke said thank you, chaching. Joe, thank you. Thanks, guys. Have gate day. Grand and your guard at the same time . Exactly. We usually want ceos of the whole company. We need an exception today. You know that, right . A ceo owned by a company. What are you talking about. The ceo of i think taco bell, either. But this guy reports to someone. But do we care . No. We have a lot of questions to ask. We do . We do. I had a very important question yesterday. Pepperoni. Yeah. Waiting for your pizza. When we come back today, the street reacts to better than expected Quarterly Results from lowes. If you could only own one Home Improvement chain, which would it be . And later, a back clash against uber. The ride sharing source after saying he wanted to spend 1 million to dig up all the information in the media. Into did you know more people have a phone than a mobile toilet . Actually, i did know that. Today is world toilet today. Its to help a crisis that impacts over 2 billion people globally. Matt damon cofounded a nonprofit that delivers sanitation and safety water partnerships. He joined squawk box at the Clinton Global Initiative to highlight the importance of the mission. According to water. Org, a child dies of a water related disease every minute. And for every dollar spent on water and san saying, theres a 4 economic return. We had him on recently. Where were we . The image from davos. Yeah. And we talked to his partner because he was late coming to the interview. And we talk all about some really cheap, simple things to keep what is it, do you remember . It was a screen, really. Most of it is open bit. Right. Its a screen that keeps bugs from getting in and out because the bugs are what thats what they spread the disease. On the same day when we interviewed, who was the fella that makes toilets . It wasnt the same day. But we talked to him there, too. Koehler . I dont koehler came here. Oh, koehler came here. We were looking at some of the high end toilets with the heating the koehler ones here. American standard. Thats who we talked to at cgi. They had a tenth of a one percenter toilet. No, American Standard didnt. No, koehler. You did the whole vana white thing. Yeah. Shares of lowes getting a boost. Sales rose 5. 1 . Joining us right now the brian naper. This looked like pretty good results. Yeah, its a good report. From the Market Investors are going to look at this lowes report add compared to home depot yesterday and i think theyre going to be press pleased here. You get an epsb driven by better than expected sales and lowes is lifting their guidance for the year. I guess the question is, if you had to pick one of these two stocks, which one would you want to own . Its a tough call right now, because i think largely theyre the same stock. I continue to tell my clients if theyre going buy one, i think home depot is the better bet at this point because it has been the better run company over the last several quarters. You know, its interesting. I know you like these stocks in general because you think the housing numbers are going to continue to improve. I dont have a specific forecast for Housing Starts myself, but i expect to see a continued improving trend. My overall view in housing is i think some of the supply constraints that impacted sales earlier are updating. Weve seen a little bit of moderation and price increases which, again, is good for sales. Aus mentioned on your show, youre seeing some let up in terms of lending, too, so i think thats going to help sales data. I know that right now people are starting to question whether the fed will raise Interest Rates next year just given the inflation levels that weve seen, the nonexistent inflation levels. Especially with oil prices being down. But my guess is that right now, if you can put out some sort of a survey, you would still have most people thinking that the fed will raise rates next year. Will that hurt the Housing Market or change your view on either of these stocks . Its interesting. My team and i put a report out on lowes and home depot. What we found, if you look at the past three cycles, home depot and lowes continue to outperform those markets until the very end. What that tells me is that these stocks react positively, the indications are in an improving economic environment. To the extent the fed is raising rates because the environment is getting better, thats probably a positive for home depot and lowes. Whats your price target for lowes, right brian 12347. We have ads 70 price starting. Thank you so much joining us today. Thanks for having me pop he appreciate it. Coming up, the Senate Rejecting that Keystone Pipeline. Before we do that, check out shares of staples. The retailer beating estimates on the top and bottom line despite a seventh straight quarter of declining sales. As we head to that break, take a look at yesterdays s p 500 winners and losers. Squawk box returns in just a moment. For tapping into a wealth of experience. For access to one of the top Wealth Management firms in the country. For a team of Financial Professionals who provide customized solutions. For all of your Wealth Management and retirement goals, discover how pnc Wealth Management can help you achieve. Visit pnc. Com wealthsolutions to find out more. 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