Coming up in a few minutes. A couple of different stories were watching. The nasdaq partying like its the year 2000. Closing above 5,000 for the First Time Since then in only the third time ever. The nasdaq now. 8 away from the record close. There is a surprise from down under this morning. Australia central bank holding back on further easings. Gasoline prices jumped 37cents a gallon. Now thats the largest week to week increase since the agency began its survey in 1992 but life is relative and if you remember where things were six months ago its hard to complain. So it doubled in three and doubled again in three. So it doubled 72 divided by 3 is 24. 24. So its probably is it 24 return in six years if it quadruples . Yeah. If it sits right you can do it. So the nasdaq is up so instead of 6 or 7 for equity appreciation the nasdaq since 2009, 24 a year. So stay out of the market. If you put that money in 15 years ago youre just giving it back. They didnt have money 15 years ago. They were 6. Millennials didnt. Well go in the nasdaq. Among our stocks to watch barclays topping estimates despite having to put more money aside for potential Foreign Exchange litigation. It just rolls off our tongue. Getting a boost this morning. Just use spelling something backward normally wouldnt work. Its not a harsh laxative its natures. Its a slow natures. It worked for evian. Naive spelled backward. You know what that is spelled backward . That means nothing. Yeah. The mortgage servicer says it will sell Residential Service mortgaging rights on 45 billion of fannie mae loans. And neighbors missed the mark on the top and bottom lines as you would expect. The company was hurt by lower drilling activity amid a drop in oil prices and thats something that eventually might rescue oil. People dont know when it might happen. Harold had interesting things to say on friday. I thought so too. Hes seen this happen before. He knows the laws of supply and demand on how long it will take. He has shutdown things pretty quickly in terms of the investments hes putting in. I was wondering whether you changed your because they cant export it. What changed my opinion is they can do it. They can do it. They can do it here and that does change my opinion on it. We shouldnt have a more strict set of regulations for penalizing them for being here. That did change my mind on it. I figured mine. Joe talked about the nasdaq hitting 5,000 for the first time in 15 years. Ive never been able to say the nasdaq closed at a record level. We were within 0. 8 for a record close for the nasdaq. If you look at the dow futures were down by 32 points. The nasdaq down by 7. There were record closes yesterday for the dow. The s p 500 and russell 2,000. I said that a million times but in over a decade i never said that. Were 40 points away essentially . 8 of 5,000. Must be around 5050. Lets check out europe this morning and see whats happening in the early trading. It looks like green arrows even in greece. Looked like moderate declines for the hang seng. If you want to check out oil prices wti is up 1. 5 . 50. 31. In the bond market the ten year note looks to be yielding 2. 103 . If you want to take a look at currencies at least right now the dollar is up against the euro at 1. 1165. Dollar down against the yen 119. 86. Gold prices look now like they are barely moving but they are down slightly 1207. 10 an ounce. We want to get back to tech this morning. Mark zuckerberg is in spain speaking before the mobile World Congress there and john ford is there. He joins us with news this morning morning. Yeah, Mark Zuckerberg was on a Diplomatic Mission yesterday when he took the stage. Didnt break a lot of news. Didnt seem intent on doing that. He was talking correctly to carriers in emerging markets about the benefits of sacrificing a little bit to expand Internet Access to more people. Take a listen. When people have the internet overall, you get access to information, Health Information to stay healthy. Education information to increase opportunities. You can find jobs. The economy. So its incredibly important so thats why its something that were all focused on. I also had a chance to talk to the head of growth for facebook. He talked about how monthly and daily active users are still the key measurements for growth flying in the face of what twitter is trying to spread about other metrics being more important. He doesnt care about logged off users as much either. Take a listen to him. As you know its about 1. 4 billion people monthly active and 900 million daily active users. Thats too much important. We of course look at different engagement metrics about time spend. How much time they spend on facebook and theres parties reporting that over 20 of the time spend on mobile comes on facebook. Those are the metrics that we look at. Facebook was clearly, Mark Zuckerberg was clearly trying to get more carriers on board with its internet on Board Initiative giving some data away for free. Mainly sbook access in emerging markets. Had executives on stage like this giving figures like this. 7 Million People used mobile data for the first time as a result of this program. And in countries where they launched the internet. Org app. The rate of acquisition for new paying data customers was up 40 . Thats the thing that carrier executives might care about. The folks in the crowd maybe not as much but facebook trying to lay the groundwork for more people to have access. Maybe economic development. Probably people buying things and advertising on facebook overtime guys. Back to you. Thank you john. Before you go, theres a story in Business Insider that says that Mark Zuckerbergs lecture or speech was so boring they have pictures of people in the audience sleeping. Its remarkable. Is that staged . I dont know if theyre sleeping or looking down at laptops. John, were you there . Were you sleeping . They are probably sleeping. I was not in that room. I was monitoring the panel from where i could be close to a camera but ill tell you, he wasnt throwing out all the stats he could have about facebooks growth. This wasnt a speech for the masses. This was a speech to Telecom Executives in emerging markets. He was very keen on diplomacy for apps theyre afraid are taking away sms revenues. Hes making the argument that the opportunity in data revenues that theyre spurring on are even bigger. I appreciate it. Thank you. I guarantee you if it had been jessizenberg no one would be sleeping. Hes a better Mark Zuckerberg than even Mark Zuckerberg is. Lets get some perspective on how the rally were seeing now compares to the boom we saw 15 years ago. I was trying to figure out because he doesnt drink. He doesnt smoke. He hasnt changed at all. You were there in what year . 97. So you were there talking about new highs in the nasdaq big time. He is the senior columnist at Yahoo Finance and the chief market able list and cnbc contributor that fought every point up since 1700 and doubted its veracity basically . Over the past year and a half yes. Where was it a year and a half ago . 3500 wasnt it . 3,000 . Yeah much lower. Okay. You might be right. You might just be early. Were going to have a lot of people on today. I was reading in the journal, everybody says no no no. Its fine this time this is no overvalued. I dont think we should worry because people are trying to reassure themselves that its different and better and not crazy. I dont know what take away were supposed to have. Its the craziest weve ever been in the stock market. That was such a singular exchange. It shot like a needle from 4,000 to 5,000 and right back down. It didnt spend time there. It was at 3,000 a few months before. You have much an enormous impact. Being able to carry it such a long way. By the way, the nasdaq you mentioned it was a little under 24 from the low in 2009. Youre right. But you know what else was, the s p mid cap. Its just been another index. Right. Its a spicier version. It was stretched on that side. I know its only four or five stocks driving thing with the nasdaq. Is that unusual . Does that happen with other indexes . Like with the dow 30 or anything . To me why not just buy those four or five stocks. First of all, nobody owns the nasdaq. Its even more concentrated than that. In fact they have to have rules to keep those big stocks like apple from essentially dominating even more. They cap their weight. Used to be the microsoft rule i used to call it. To that point, the advanced decline line and the nasdaq stopped a year ago. So yes its less stocks driving it but it can continue. The last time it happened and you probably hes gone now. When we went through 3,000 he got really bullish on the nasdaq because of the way it just felt it went to 5,000 but shouldnt have been above 2,000 based on anything other than the mania. Absolutely. Thats why people get excited with break outs to all time highs because theres no more resistance. If youre a tech nix, it wants to hold you back. That was the other thing. It took 15 years to get back to 5,000. So i was trying to figure out with a normal rate of return for equities how overvalued was it in the year 2,000. So if you did 10 a year it was at least 100 overvalued. It was probably more overvalued than that. Yes. It was probably worth 1500 and trading at 5,000. Right. And it caught up though. It sort of caught up. It deserves to be much higher than 1500 but does it deserve to be 5,000. If you look at the s p and the dow they have exceeded their inflation adjusted 2,000 high. Nasdaq needs to rally another 36 to get back to its march 2000 inflation high. How much have we exceeded it . People still havent made much money. In dow its about 2,000 points on an inflation basis. Thats pretty amazing. The point you were making with the ad line what do we draw from that . Youre six years into a bull market so it just aged and typically thats less and less stocks that end up driving the indices. This is apple although they havent done much. Apple contributed about half of the year to date gains in the nasdaq. Hes going to be on today. The most interesting thing to me if you want to break it down is the nontech stocks that carried it to the round trip. Costco up 200 and bio tech and its less than half pure tech anymore. So its really honestly it looks a lot like the rest of the market. So the question of does the nasdaq 5,000 make sense is the same question as does s p 2100 make sense right now . Does the market trading at 20 times trailing earnings make sense right now . And you can see yes and no but its not a special case nil. Ipo fever, theres about five or six or seven things that you can engage. I wonder how many of them are behaving ipo is not flashing any warning signs now. Youd be looking at the fund flows. They have not been strong in an enduring way. You dont want to benchmark yourself against mania. The little guy has to get excited before this thing ends. It didnt happen in 2007. But they should be talking about it. They probably wont talk about uber. Its a different story for a different reason. You cant say were insulated for bad stuff. So at least in tech its preipo. So back in 2000 if you had no revenue in public now you stay private so its in the premarket where as before its in the ipo market. Thats the other thing hes going to say today and that is that youre seeing some in private valuations and i think Everybody Knows that. I did a trivia thing over the weekend and one of the questions was uber and the way the question was phrased it didnt go high enough. Whats it valued at . 40 billion. It ended at 40 and when they advised it 40 was one of the middle numbers. It wasnt shocking anyone. We can say it so easily but is there its just hard to believe. How does that translate . Does it transmit itself into the Public Market at all. The one you might do it is with the analyst coming on saying instagram within facebook is worth 35 billion based on what the private companies are based on. It has to equate to it. It came out based on it. I said you didnt drink but you drink. Not anymore. Oh you dont. Thats why you look like peaches and cream. I have been on a limited calorie diet until the nasdaq got back to 5000. Hunger strike. All right. But you do, you havent been on in awhile and you havent changed. Doesnt age. No. Youre human, right . They worry so much over there. Yeah sure. That guy was as trim as could be. Yeah thank you. Thanks peter. When we come back this morning, why Hilary Clintons use of email is raising red flags this morning. Plus israeli Prime Minister set to address congress today. Well head to the hill and talk about the controversy surrounding the event right after this. Barbara just bought a bike. She wrote a tweet about it. You cant learn much from that. But take data from millions of tweets combine that with your companys supply chain and sales data. Apply ibm analytics and expertise, and all of a sudden, you can learn which bikes to build what to make them from, where to sell them. 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. Prime minister Benjamin Netanyahu is in washington d. C. Set to address congress and tracy is there with details on who will and who will not be there. Good morning. Good morning. Theres a number of lawmakers, a growing number that say they will not attend this speech by netanyahu this morning because they think its more about politics than progress. My speech is not intended to show any disrespect to president obama. But his speech invited by republicans two weeks before his election has prompted 50 members of congress to say they will not attend. I dont want to see the congress of the United States being used as a prop or a photo opportunity in his reelection campaign. President obama calls this speech a distraction from the on going talks to curb Irans Nuclear program. Its a distraction from what should be our focus and our focus should be how do we stop iran from getting a nuclear weapon. Netanyahu and lawmakers here think the u. S. Isnt doing enough. I have a morale obligation to speak up in the face of these dangers while theres still time to avert them. For three years we have gone round and round in pointless negotiations while we endanger our security and israels security. National security advisor susan rice tried to reassure israel. The bottom line is simple. We have israels back come hell or high water. And now theres concerns they may leak details of the secret talk before a deal is announced. Theyre trying to freeze the Nuclear Program for at least ten years. But even president obama says the odds are against this deal. Theyre still working on it. The foreign minister is in switzerland trying to workout the details and thats why the white house doesnt want anything to leak out before. If theyre able to seal that deal. I think i saw the president isnt going to watch the speech either. Did you read that anywhere . Yeah the white house is saying he didnt watch netanyahu yesterday and that he doesnt plan to watch him on capitol hill today. I just want to know i just figure id want to know. The whole thing seems like a couple of children arguing with each other. Anyway tracy, i appreciate it. Thank you for that report. Lets tell you about other political buzz stories going on this morning. This one involving hilary clinton. He used a personal email account to conduct official business when she was secretary of state. Her actions could be in violation of regulation. She never had a government email address at all during her entire time there and i imagine i dont know if you use gmail or hot mail or yahoo or whatever and by the way this has to be this is a larger issue than just hilary clinton. This goes on all the time. Everybody in government has is that the beginning of the mainstream medias defense no. Im sure the New York Times is working on a piece that excuses any action. Im not excusing it. I think there is a bigger story here. Youre saying everybody does it. Theres a bigger story here. If everybody does it its not a big deal. Im not. Did you come from there this morning. Thats not what im saying. But there is electronic correspondence on how to handle this right . What im saying is it will be out tomorrow. Theres a larger story to be told about government officials what she has done is on the bigger scale given that she didnt have an address. Theres a lot of political operatives and others that use their own personal email address and i imagine they do it for others should you have to hand your gmail over . Theres interesting issues about this. Get your sore yachts to put this to bed quickly. Just in terms of the consistency of your logic, who broke and reported this story about hilarys ek times today. Grudge. No, the New York Times. Continue on. Get it out first. So they can handle it. So they did diffuse it. Lets do that. Were honing in on gold prices. Currency levels in crude oil this morning the founder and editor and publisher. Its great to see you. Good to be here. We love seeing you when youre in town. Thank you. Youre scraping the bottom of the barrel when you get me in. Never, sir. Were thrilled to have you here. Lets talk about what you think. We talked about nasdaq 5,000 already this morning. Im on board with that already. Im watching whats going on in the Foreign Exchange market more than anything. We got to 120 and we had somebody come out last night, a professor that said that 120 was a bit extended and the yen came back a little bit but im watching whats going on. The chinese are upset that the yen has been as weak as it has gotten and theyre worried about losing market share. Im interested in whats going on in the oil market where theyre moving 2 and 3 against one another. Things are happening that havent been happening before. I find those things interesting. What can the chinese do . They may not like that the currency is weak or what the central bank is doing but they have been doing it for a long time. They have been openly manipulating their currency for a long time. They get a good deal weeker relative not to the u. S. Dollar. They can make that work. Theyre concerned about that. It will be a m