The "Squawk on the Street" news team reports on today's top businesses headlines, including the Dow and S&P nearing all-time highs; JC Penney's larger-than-expected fourth quarter loss; and two big banks downgrading Groupon.
CNBC's Rick Santelli provides the read on unemployment and fourth quarter GDP numbers. And, CNBC's Steve Liesman and Drew Matus, UBS economist, discuss what it signals about the economic recovery and markets.
What will it take for lawmakers to come together and tackle the debt crisis? Rep. Paul Ryan, (R-WI), provides the Republican perspective on the budget battle in Washington.
CNBC's Becky Quick provides an update on Kohl's and JC Penney's Q4 earnings. And, Jim Iuorio, TJM Institutional Services, takes a look at what traders are watching ahead of the market's open.
The man hoping to become Germany's next chancellor has been snubbed by the Italian president after calling Silvio Berlusconi and Beppe Grillo 'two clowns'.
CNBC's Courtney Reagan has an update from JC Penney's conference call. Stacey Widlitz, SW Retail Advisors, says the retailer's CEO has conceded to making a mistake.
CNBC's Josh Lipton is watching Groupon, which was hammered after hours today on a light outlook; Monster Beverage, which also reported disappointing earnings; and Sears Holdings, which is up ahead of tomorrow's report.
$85 billion of spending cuts in defense and discretionary could lead to job cuts and a contraction of growth. CNBC's Maria Bartiromo shares her observation.
CNBC's Steve Liesman offers insight on Fed Chairman Ben Bernanke's speech on monetary policy; and discussing opportunities in the stock market, with Alison Deans, Varick Asset Management.
Cakestyle.com sends clients outfits in the mail according to their size and style preferences. Millie Tadewaldt, Cakestyle.com co-founder and CEO, and Cecelia Myers, Cakestyle.com COO and chief style officer, offer insight.
David Crowe, National Association of Home Builders, sifts through the data and explains why the housing market may not be as healthy as it appears, and why he believes there will be no real momentum in the sector for the remainder of the year.