Its not its a state of mind. It is. Thats what we keep saying. Over and over again. And theres a lot of new this is the new blah blah blah. I think 15 years is fair. Dont you think 15 is fair . Is fair for what . What i am is the new 15 years less. Do you want to do how old are you now . I can sing it. No. You know what they say. They say that the beginning of the hours are the most important to hold, to pull in the viewers with the current news. Nerds, move on. Exactly. Thank you. Some of the stories were watching this morning, the Global Markets. Oil prices extending yesterdays 5 route. The reasons are piling up including dollar strength. Jitters about greece flight to safety, but especially whats been happening in the Energy Sector. Check this out. Pushing stocks lowers across the board yet yesterday. The s p now on its first fourday losing streak in more than a year. Wti, below 49. Unbelievable. That is conditioning today. You have to wonder whether that is going to do to stock prices. Dow futures are slightly higher up by about 8 points. The s p and nasdaq futures are slightly lower. If you are looking for proof of flight to safety, check out the treasury. Yesterday sitting at 2 . Today, thats the big question. Mark rand was on yesterday. Wool see what happens. Already quite a bit of chaos in all these markets. Check out whats been happening with currencies. Dollar has continued to strengthen. It is up to 119. Dollar is down against the yen. Dollar index yesterday rallied for the fourth straight session. It ended the day at a nineyear high. Take a look at gold prices as well. Gold prices at this point up by 6. 70. 1,210. 70 an ounce. In europe we have continued to watch some of the pressure there. European markets are slightly weaker. The dax is slightly higher. In asia overnight, there was a selloff there as well. I think it was the worst day weve seen in about seven weeks for some of those asian markets. Nikkei down by about 3 . The hang seng down by 1 is . The shanghai was flight. Lets bring you up to speed on a couple of the days top corporate stories. Aol shares are now soaring on a report that verizon approached the company about a potential purchase of joint venture with multiple offerings. Neither company commenting on that story. Yahoo was lobbied to think about a potential deal with aol. One of the potential stories overnight is a headline. My sources, by the way, theyre not waving me completely off the story, but more towards the joint venture do something with the video, if you will and some of the projects that necessarily buy the company. So i dont think we should necessarily take too much away from that headline just yet. In regard to that we have a couple other headlines. Money transfer company zoom sans nearly 31 million was fraudulently transferred to overseas accounts. The Company Announces its cfo is resigning after just a month on the job. Are those things connected . And then coach is set to reportedly buy stuart weitzman. And Johnson Johnson starting experimental trials of its ebola vaccine. For whatever reason, what i thought was a company that was just gone at 12 is now 50 something. Good for Tim Armstrong. Whatever happens, its now in a 3. 5 billion company. I think it was you know when the time warner thing happened it was and verizon is as well. From 12 to 50, i didnt think that was possible. Its ended huge dividends. And theres nothing left. When we thought about it it was like, remember dialing up and trying to get on the that seems like yeah. It was making the transition. To a Media Company to a content company is pretty amazing. What if my new age is i use the age of my hair. What . I use the age my hair is instead of my age. European fears are front and center once again. New data is out again adding to those worries. Michelle Caruso Cabrera joins us to explain. When people ask about it theres like you need to be an expert on 28 companies, dont you . How do we interpret whats what was it cypress or some other tiny Little Country destabilize the entire for two weeks, yeah. Its hard right . T. Weve got states bigger than some of those countries. And you worried about mish moshing them altogether. Dont you wonder . For sure. Fears about the euro are absolutely back. The new data out today is the pni numbers. The new numbers suggest europe barely resisted growth. Data continues to be bad. Add to that what to me is remarkable. Consensus is that mario draghi is finally going to do quantitative easing in two weeks. There is now no doubt in the markets about that. This they dont do it its a huge risk right . If anyone believes theyre doing it, why isnt that market rallying . If you look at the yields the yields are down facially. That part already played out. For sure. But theres concerns that eitherite not going to be enough quantitatively and qualitatively is it enough because there are so many things that havent been done when it comes to reforms. I would add oil is not as helpful to the europeans as it is to the United States for the simple reason they dont drive like we do right . Two, all of those governments loads up loads and lots of taxes on the price of gasoline. You dont necessarily see it transfer to the consumer the way we do here in the United States. Also the fear that if one country leaves the whole of the euro will fall away thats not gone away. Hollande the president of france yesterday saying its up to the greeks to decide whether or not theyre going to stay in the euro. Thats very different than a couple of years ago when they said through is irreversible. Is this tough talk . You mentioned yesterday the germans were trying to say, look be careful what you cowith these elections . Right. Hes planned to do a showdown with europe about the massive debt that they still have. Germany over the weekend, through weeks and now hollande yesterday suggesting you want to have a showdown . Lets have a showdown. Youre not going to blackmail us into giving you even more bailout money when you havent done a lot of reforms, when you still have a government that cant rely on the tax revenue that it got at this point. The big dates, the 22nd is the next ecb meeting, the 25th is this election youre looking at a hectic week. And in theory one have been very positive and one can be very negative. It sounds like theres only the potential for downside left. So draghi has in the past shown remarkable ability to surprise the markets or use suasion to bring more to the table than what people were expecting. What tricks does he have in his hat . But i dont understand, thats what the bond buying does, it lowers rates, right . Right. Maybe they need to buy s p futures. That could be. They cant do this they cant do that. Theres talk that they buy aaa bonds only. How much more can you get out of lower rates . The way economists think about it can you get Interest Rates below the expected rate of inflation . This is really key. Fiveng inflation is going down 1 zero on a bond looks good. Right . Youre still Getting Better yields than what your money would have done they would buy over here wouldnt they . They are. Exactly. And that helps. Exactly with the currency translation rate. That inversely helps the dollar. Our stocks as well. And if it slows here the dollar gets even more i dont know. They really need to devalue the euro. Im glad you brought that up. At some point when you talk about greece potentially leaving the euro, at some point the market psychology goes down right . Remember, this drags the euro lower. And sometimes the market psychology may shift and say wait, it will get stronger. People have done breakdowns where they say what if every single one of these countries have their own currency 12347 the last analysis i saw, germany would have something more a hundred percent value of the euro. Will you stay . Sure. Youve got nothing else . I was going to go to the gym, but you were . Yes. Elga barsch is with us. Im just start with you, mark. You were a poor guy for the euro, werent you . We agreed on that. I think so. One of the things we agreed on joe, is the dollar is going to get stronger this year and were beginning to see a small sense of it today. This is our trade is it possible to do Something Like that to get short at 135 and just stay short and make all this money and when it seems to obvious, mark . There has to be you know it cant go straight down the euro, can it . Thats what we see with the dollar and the euro today. The japanese are expanding their Balance Sheet and the yen today is the strongest currency. Today were trading around 118 1 2. I agree with you markets dont go in a straight line. But i think theyre in a strong dollar environment. Elga can you tell us in your view mark what happens over the next couple of months in the eurozone . Im one of the people who thought greece was going to stay in the union before and i still think its going to stay in. I think the kind of comments i think this is posturing, this is negotiating. I dont think blake mail is a helpful concept here. I think its just hard nail biting negotiations. I think more important than the first thing coming up is on january 14th the European Court adjusted is going to make a preliminary ruling on the omt, the original plan draghi had about supporting the european bond markets. And i agree with the idea that the ecb is going to buy Asset Backed Securities as well as sovereign bond. I think the trick, though is rather than the ceb buying them they will stay on the Balance Sheet and there will be a Small Program to allow germany to give us the cent to it. I think the eurozone will go down further. And we had one of our guests yes say look the continent is right on the cusp of a nice recovery. And its always darkest right before the dawn. And whether the ecb does it or not, the surprise will be those recover more quickly than we thought. Yes, i agree with that. 2015 will likely be the year in which the pace of growth in europe particulars up materially. But, of course there are some enturn at the i and to some extent greece brings back some of the folds which will complicate matters for the ecb when they decide on whether or not and how to embark on a qe program. Is it going to be sort of the where yields are . I mean the economy is with zero you know money. Seem to eventually catch up with it. We had a hard time believing it would work here and it finally did. Sits believed that the economies will find a way . I think they do. Im not entirely sure that its so blindly obvious that we need to at some rate in the game im park of a qe program. The Inflation Expectation keeps dwindling and given that we have a heavily underutilized economy there is a risk of this inflating into negative second round effects where people are willing to take more wage cuts because they think prices are falling, as well. Why exactly do you think there will be growth next year in europe . This year. This year right . Because we have a very expansionary this year been next year as well we hope. The reason is that we have expansionary financial conditions the euro came off, as you said, prices are coming off. We have this massive fall in bond yields. And now after the aqr, its starting to feed through into lower bank lending rates. And that will set into motion stronger credit growth and with the Global Economy ticking along nicely, we think that means that europe can recover. Well have to leave it there. Mark, thank you. Started with you. Were tight on time, as well, but we appreciate it. Thanks. Coming up when we return we have a live report from the Weather Channel as much of the country braces for a bitter cold day. Plus what does Marissa Mayer have . Well talk about that next and a controversial new book on the yahoo leader. First, a look back at this day in history. Welcome back to squawk box. Keith carson joins us now from the Weather Channel. And alex wallace, you know, looks very nice last week too. I dont know whether you feet off of each other. I dont know where you were. You certainly didnt tell us you werent going to be around. Its good to see you today, keith. I did. I didnt know i had to check in with you guys ahead of time. Its nice. You dont have to but ill send you a message next time. Wallace is a well dressed man. Its becoming a competitive thing. Hes dressing all nice. I had to step it up. Thats what happened. Today, washington, d. C. Delays and cancellations been light snow moving from philadelphia to new york. Most of the heavy snow here over the next couple of days is all lake enhanced stuff. Maybe 12 to 18 and most of these spots are spots that are used to seeing know. The bigger story for more people is the cold shot. One across the northern plains. The second one comes in across the eastern seaboard for thursday into friday. You can see all the purple settling in. That is the stuff that is much colder than average. But look at tomorrow morning. 26 below in international falls. 12 below in chicago on thursday morning. Down in atlanta, looking for lows in the teens. Friday morning, 19 in rally and 23 in atlanta. Guys, for sure i see how atlanta reacts when we get into the teens and Single Digits. Thats going to happen here on thursday morning. Wow. It wasnt supposed to happen any more in atlanta, wasnt it . No. I started laughing when you said that. Its like the people that are down there are like what is this . People forget like when my parents come visit im from boston. They come down here in november and they say its a little chilly. Im like its not the tropics. Its not key west. We are going to talk about yahoo this morning. Marissa mayer, the ceo of that company and a new book thats out called Marissa Mayer and meyer, mayer, i dont know why it is so complicated. It shouldnt be. Nicholas is here from business insider. He is the author of that new book. Welcome to the program. Thanks. Here is the question. You have this new book out. There was a big chunk of it in the New York Times magazine just two weeks ago. You paint a relatively awful picture of her and what shes done for the company. I would argue or suggest that youve suggested she should effectively be fired. Why such harsh treatment . I definitely didnt suggest that. I went into what some shareholders are thinking about the situation. And there are shareholders that think yahoo should be bought by aol, even if that means Tim Armstrong would become the new ceo. I painted the pictures of what is going on. But it sounds like an awful picture. Yahoo is in a mess that she go there. She was a good hire in some senses, but but it sounds like you think she was not the right hire. Ive read the book now. I dont think you think she was the right hire. So explain. Right. And especially explain given that the stock has risen and done as well as it has. There is a scene towards tend of the book and she said when i got here we have had 12 people working on mobile and now we have hundreds. When i got here it took forever to get a mobile app out and refresh a product and now its down to weeks or day. That is a fact she has gotten yahoo moving much much facilitier. The question is whether ya should should have focused on making products. He nude to have on your mobile phone several apps from yahoo and yahoo is going to be your phone appmaker. That is just i question that. I think apple was already there. Who should have been her . Who should have been the ceo of yahoo instead . The reason im asking this is ive watched, the stock has performed. Shes only two years into her run. You compared her at one point to steve jobs and she she compares herself to steve job. It certainly took him a couple of years to get his act together and this was a troubled cup to begin with. Im wondering whether were making a judgment too quick. The story of my book is about the first two years of her run there. Yahoo owns a big stake in al by baba. Right before meyer joins, they did a deal where alibaba had a lot of incentive to go public before the end of 2014. Mayer had a unique situation that new ceos never get, that is how does she do getting it ready for the future when no one is looking at the core. Is she going to take a lot of costs out of the business . Is she going to get revenues growing again . She didnt. And you want yahoo to merge with aol. Or you think thats a good idea. Again, i was just reporting what shareholderses are lobbying for. And right now, mayor is effectively negotiating with shareholders will whats going to happen with this giant stake in alibaba. I noticed you tweeted out last night when there was this report out that she would want to buy some of the media property if that were to happen. My sources say that deal may not happen. That verizon deal . Right. Maybe theres a joint venture or some kind of business relationship. Its murky to the point its all over this. Do you have a take on that . She loves tech crunch. Here is the problem. I talked about this the last two years where she got a chance to get everything in order. The plan was at the end of the two years, if yahoo looked great, she was going to get this money from selling alibaba stock. But the fact is that now, two years afterwards, the company is not in super great shape. How much is the alibaba deal worth now . Sgliets luktating. Do you know approximately what its worth . I dont have a number. But its like 30 billion or something or more . From some of the parts perspective, you could argue that. Its like the entire market cap of yahoo so the rest of the company is maybe you can decide. Its worth it. So the core of yahoo is worth somewhere between negative 4 billion and 5 billion. Just because shareholders are worried shes going to squander that money, they want to right. Theyve seen yahoo go through many acquisitions over the years and theyre tired of yahoo spending the money on what it thinks can who you would you prefer to be in that spot . My job is to tell the story and i think i did that in the book. Im not here to pick a ceo. Henry. That would be great. Thats my bought boss. No, my book tells the story of a troubled time for yoohoo. Do you think its in more trouble today than it used to be . I think absolutely. Yahoo can have another two years without getting its growth going again. Thats what shareholders were expecting and. Some people