Here are some of the key stories CNBC is following this hour:
Defense Secretary James Mattis arrived at the Munich Security Conference. Vice President Mike Pence and Homeland Security Secretary Kelly are also part of the U.S. delegation. Mattis has called on NATO allies to carry their proportionate share of the defense burden.
Secretary of State Rex Tillerson met with the Chinese foreign minister on the sidelines of the G20 summit meeting in Bonn. He was told by his counterpart that common interests between Beijing and Washington far outweigh their differences.
The intense competition for customers continues in the wireless space. On Friday, Sprint announced that its unlimited data plan will now include both high-def video streaming and 10 gigabytes of mobile hot-spot data. The deal also includes a free iPhone 7 for the next 18 months, with a trade-in.