And good morning and welcome to Worldwide Exchange. Im seema mody in for sara eisen. Im dominic chu futures are shaping up to be a little bit more on the mixed side of things right now we are seeing the s p opening up just about flat if Current Conditions hold. The dow jones off by 4 points and the nasdaq up by 7 overall if you take a look at the equity picture, we are still hovering near those record highs. As a reminder the u. S. Bond market is closed today in observance of the columbus holiday season. We will have a deeper dive first, to some breaking news out of washington overnight. President trump calling on congress to fund the border wall as part of any deal for the socalled d. R. E. A. M. Ers. Nbcs tracie potts live in washington with more on that good morning, tracie. Hey, seema. Good morning, everybody. It did happen within a matter of hours. Not too long ago President Trump laying out hiS Immigration agenda for Congress Already overnight. Democrats are saying this wont work president ial proclamation reporter overnight, new demands from President Trump on immigration echoing what he said last month. The wall will be funded otherwise were not doing anything. Reporter in exchange for allowing 800,000 d. R. E. A. M. Ers, young immigrants to stay here legally, mr. Trump is insisting Congress Must pay for and finish building his wall with mexico. Its the exact opposite of what democrats say the president agreed to. Any Additional Border security measures excluding the wall. Reporter the president S Immigration priorities delivered last night include quickly deporting children who cross the border without their parents, withholding federal funds from sanctuary cities, stopping catch and release policies and limiting green cards to spouses and minor children that issue is tied up in the courts attorney general Jeff Sessions says this plan will work democrats call it beyond unreasonable, insincere insisting the wall was explicitly left out of negotiations. This is our threshold protecting the d. R. E. A. M. Ers. Reporter all of that follows a weekend twitter war between the president and tennessee senator bob corker the president claims corker, quote, didnt r didnt have the guts to run for reelection after begging for his help corker called the white house an adult day care center. Now that back and forth could have some real implications here on capitol hill because corker is in charge of the Foreign Relations committee, the committee that would have to deal with getting rid of the Iran Nuclear Deal which the president has talked about so often. Tracie, theres an intersection of sports and politics we had Vice President mike pence getting some attention for walking out of the game after the players took a knee. Is there anymore fallout reporter the president has made it clear that he told the Vice President beforehand, if they kneel, you should leave we saw the Vice President with his hand over his heart during the national anthem, and he left right after that. Tracie, well get to more on that thank you very much for that update after that. Turning to the Global Market setup. A fairly quiet start China Services sector growing at its slowest pace in 21 months in september. Also point out Chinese Markets were closed last week for golden week the hang seng, as you can see, closing down by half percent and the shanghai composite higher by around 3 4 of a percent. Lets switch to early trade in europe where were looking at the german dax at a new alltime high sta stat oil, they found an area containing up to 130 Million Barrels of oil were keeping a close eye on spain. Stocks rebounding amidst this standoff taking place between madrid and barcelona. Seema, as for the broader markets, the macro picture, lets check out whats happening with oil oil prices came out rough. Wti crude below 50 bucks a barrel 49. Had a t 49. 45 the last trade there ice brent, off by a quarter of one percent as well. As for gold prices, check out whats happening we see perhaps some tensions politically speaking all over the world. However, gold prices, yes, they are catching it. 12. 8440 the last trade there the currency side of things all mingle together. The dollar versus some commodities. With the euro, 1. 1734. The last trade there 1. 1261 the last trade. For at least sterling. Thats helping to prop up some of those prices especially for gold. The currency falling hard after the u. S. Embassy in ankara suspended all Nonimmigrant Visa Services its a move that turkey immediately watched. We saw assets around the world were stunned in terms of the turkish stock market the turkish lira lower by 2. 6 the lows of the session was down as much as 7 . Turning to todays wall street agenda, there are no reports today over the bond market and federal government closed for columbus day. On wednesday we do get minutes from last months fed meeting. Thursday look for jobless claims and the Producer Price index on friday its retail sales, ppi and Consumer Sentiment earnings season officially kicking off. Bank of america reports on friday well hear from blackrock and Delta Airlines this week. I guess you could say earnings season starts with jpmorgan exactly. New overnight, media mogul Harvey Weinstein has been fired from the company he cofounded amid Sexual Harassment allegations. Landon dowdy joins us with all of the details and the latest. Landon, this is a big deal when his name is on the door, right dom, you are exactly right. The Weinstein Companys board revealing that the cofounders employment has been terminated effective immediately. This comes three days after the New York Times published a bombshell report detailing decades of Sexual Harassment allegations against weinstein. On friday weinstein was placed on indefinite leave of absence after the firm said they would investigate the long term is there. Weinstein is said to own 20 of the company. A source familiar with the matter says the members of the Weinstein Companys board have already discussed changing the corporate name dom, back over to you. Yeah. Its the front page of the post this morning cut. Brother helps sex creep harvey thats the cover story. Very much so. One where were going to see developing story. And with the settlement so far whats interesting is that the Community Still seems to be supportive they said the talent agencies, the Entertainment Companies will still work with the Weinstein Company Going Forward. Landon dowdy, thank you so much some stocks to watch today we have hsbc finding the name and the Company Insider to be the next ceo the times of london says hsbc wants john flint to take over from stewart gulliver. Honeywell reportedly plans to spin off some noncore assets this would be the first major move since honey wells new ceo took over in april reuters say they will resist a call by dan lowe to spin off the aerospace division. Barrons is positive on walmart saying shares could rise 15 or more. They jump start profit and sales growth walmart announcing today it will launch mobile express returns at stores for items bought online seema . In the pharma space, astrazeneca says its given its drug to treat a form of lung cancer a break through therapy designation. This move helps speed the approval process for the drug. Shares of astrazeneca basically flat on the day. Shares of airbus lower right now. The lowest performing stock in frances equity index. Theyre setting comments from ceo enders he warned of Turbulent Times ahe ahead. General electric announcing a slew of corporate changes late friday the company is promoting jamie miller to cfo replacing john borenstein who will leave ge he is head of the Transportation Business the company says two vice chair men are retiring. Still ahead here on Worldwide Exchange. Oil operations in the gulf of mexico slowly coming back online following Hurricane Nate the latest impact on the Energy Market still ahead crisis in catalonia. They take to the streets in spain calling for unity. We are live on the ground in rconwh rlide exchange returns. Whuuuuuat . Rtgage offer from the bank today. You never just get one offer. Go to lendingtree. Com and shop multiple loan offers for free free . Yeah. Could save thousands. You should probably buy me dinner. No. Go to lendingtree. Com for a new home loan or refinance. Receive up to five free offers and choose the loan thats right for you. Our average customer could lower their monthly bills by over three hundred dollars. Go to lendingtree. Com right now. Trust 1 doctor recommended dulcolax. Use dulcolax tablets for gentle dependable relief. Suppositories for relief in minutes. And dulcoease for comfortable relief of hard stools. Dulcolax. Designed for dependable relief. Worldwide exchang exchange. U. S. Equity futures set up for todays trade. As you can see, we are higher across the board but albeit fractionally nasdaq up 9 points dow jones higher by 1 point. Oil certainly got a lot of attention last week. Wti settling down 4. 6 for the first negative week in five and the worst week since may 5th you can see wti crude trading. Ice brent, the international gauge trading at 55. 42, lower by. 4 of a percent lets stick with the oil trade. Energy operations in the gulf of mexico are coming back online following Hurricane Nate the storm which made landfall over the weekend caught off more than 90 of oil output from the gulf that output is expected to quickly come back online with nate a tropical depression outside of the region. Lets bring in john kilduf at again capital. There are a lot of dynamics driving the oil trade. Its been front and center since the beginning of september is that really the driving force behind oil prices . It was fleeting, it seems like, given the fallout we saw last week yeah, it was fleeting were starting to sort out the inventory situation. Crude oil dropped last week. We saw refined products, gasoline in particular come back online and rise. Big question now were watching for the markets, i guess there are two, distill late or diesel fuel inventories terrific Global Demand for the product over the past pretty much this year things have gotten a little tight there. Thats the first time we can use tight or tightness in referring to any Energy Commodity in quite some time. That is a source of support for prices at the moment this is a time of year though when that demand drops off and thats why you saw the prices start to come down last week only to get supported by the Hurricane Nate here. The big thing to watch though for me is just the middle east as always is a cauldron like never before to me in a way. Im surprised the situation with turkey and the u. S. Not getting really more attention or more reaction in the broader markets, but also, too, you had saudi king meet with president putin last week. Right i was going to ask you about that that was an historic meeting the first time the saudi king had gone to moscow and in a way it seemed like the leaders had reaffirmed their commitment to Global Oil Production to scale back of course, as part of that opec agreement, oil prices moved higher on thursday but on friday they gave back. Sort of a new found friendship there also, too, you have a number of interests against the cukurdist people you have turkey, iran, saudi arabia, russians, even the u. S. To a degree clamping down or pushing down against that movement where theres a significant amount of oil involved as well obviously we all just went through moving the Islamic State out of that same region. The middle east is really a bubbling cauldron at the moment that needs to be watched, but the bottom line is that everybody is focused on one thing at the same time, which is pushing out more, not less oil. We talked about the idea that perhaps the hurricanes, as tragic as they were, provided temporary moves and factors influencing oil. What is the next big catalyst and what are the targets you had specifically with wti given that we have supply demand being worked out and other fundamental factors being played out. The fundamentals Going Forward here, assuming theres no more storms of any significance, should help to push prices lower. We peaked a week ago thursday. We hit almost 53 a barrel, 52. 86 on the chart. That was an outside day with a lower close. Technically thats a nightmare for the bulls and key reversal day. Weve been coming down since weve broken below 50 i see Oil Prices Going back down to 42 a barrel here over the course of the next several weeks before we see better what the setup is for next year and demand overall. Some of those analysts in early january, john, were calling for mid 60s when looking at oil is that just not a target that can be reached at this point its going to be very difficult. You have to have a string of hurricanes you have to have a supply disruption event the economy has come through globally to support prices from a demand perspective for the first time in a while, but the production situation is just more oil, not less more refined product, not less. Lower for longer. John kilduff, thank you for your time. Thank you so much, john. Coming up on the show, its being called the worst political crisis to hit spain in decades thousands of people spilling into the streets of catalonia calling for unity. We are live in barcelona. Heres todays National Weather forecast from nbcs bonnie schneider. Good morning, seema and don we are looking at nate bringing about travel troubles to parts of the northeast we may see some airport delays due to rain. And in denver its not rain were talking about, its snow temperatures are cold enough in colorado that were looking at a 30 degree temperature drop if your Business Travel takes you to denver, i would say pack for a winter experience. Just 32 degrees in one day of a change snow is in the forecast as well. A winter storm warning with temperatures that will be cold enough for it. Watch out for Power Outages as well we could see 3 to 6 inches of snow so depending on where youre headed were looking at winter like cold across much of the west and summer warm with temperatures in the 90s in texas. Thats your Business Travelers forecast more Worldwide Exchange when we come back were drowning in information. Where, in all of this, is the stuff that matters . The stakes are so high, your finances, your future. How do you solve this . You dont. You partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. Morgan stanley. Ca yes you can can i kick it . Yes you can can i kick it . Yes you can well im gone can i kick it . To all the people who can quest like a tribe does. Okay, iunderwear thatsd say this, bactually pretty. Er leak surprised . Its called always discreet boutique. It looks and fits like my underwear. I know what youre thinking. How can something this pretty protect . Hidden inside is a super absorbent core that quickly turns liquid to gel. For incredible protection. So i feel protected. And pretty. New always discreet boutique. Welcome back to Worldwide Exchange. The s p 500 opens up by just about a point given todays action so far. The dow jones down by about a point and the nasdaq up by 6 so, again, very stable markets overall. As for whats happening in europe, we are seeing a bit of a mixed picture there overall. We have some action here in germany, flat now. Capped in france flat as well. The ftse off by 1 the ibex up by almost a percent. All eyes looking at the catalonia refrp referendum for independence thousands of people spilled into the streets protesting the vote for independence. We are live in barcelona, willem. Reporter there are 353,000 people marching in favor of unity here in barcelona. Some people involved in organizing said it was more like 900,000. Huge numbers the big question is what do the catalan authorities do next . What is the next move . We had a chance at the end of the march to talk to the catalan authorities. We asked him what his message was, how concerned was he . Heres what he had to say. We have been trying to have that dialogue to engage ourselves to that dialogue with the Spanish Government unfortunately we are along that table. In order to have it you need a counterpart. So far we had that you need two to tangle anything that would help our spanish counterpart i think is going to be for us absolutely acknowledged reporter and this is really what weve heard repeatedly from catalan leaders. Since 2012 theyve sought negotiations with madrid, the Spanish Government with increased fiscal independence. They feel theyve never had time to talk to the government. He says he will take any possible legal means to prevent any declaration of independence. Businesses not big fans of uncertainty. They are some of them moving out of the area. One of the largest banks in spain and another one are moving their legal headquarters out of catalonia. More than 7,000 Foreign Companies with a presence here in catalonia looking at the future willem, its dom. You put up some of the comments from the catalon foreign minister what happens with the Prime Minister of spain, rajoy what happens with him and the Spanish Government dealing with the catalonia situation . Reporter there was going to be a meeting of the Catalan Assembly he was going to talk to the assembly he might declare independence today. The Spanish Constitutional Court has suspended that he will talk to the Assembly Tomorrow afternoon rajoy said he would do whatever it took within legal means that could include suspending catalonias autonomy, dissolving the parliament and calling for fresh local elections. We saw that, willem france is saying they will not recognize a unilateral catalan declaration. What has the response been not just from france but other European Countries reporter well, weve seen that across the continent, including the European Commission they said this is an internal spanish matter to deal with. The foreign spokesperson for catalonia, he refused to answer that question whether he had had discussions. Of course, the catalan is very pro eu they would like to stay inside the European Union thats whats frightening businesses there is an independence declaration. It will automatically mean these companies, these organizations whether theyre banks or anything else will be outside the eurozone they wont have access to ecb funding. Thats whats making a lot of them think about moving. Theyre saying this is a much bigger deal than the brexit. Willem is live with the latest on catalonia. A roundup of Global Market picture and of course this mornings top stories. Plus, breaking news out of washington overnight the president threatening to derail a deal for socalled d. R. E. A. M. Ers if congress does not fund the border wall. The latest details when Worldwide Exchange retnsur my digestive system used to make me feel sluggish but now, i take metamucil every day. It traps and removes the waste that weighs me down, so i feel lighter. Try metamucil, and begin to feel what lighter feels like. Its a warm blanket. Its a bottle of clean water. Its a roof and a bed. Its knowing someone cares. Its feeling safe. Its a today thats better than yesterday. Every dollar you can spare helps so much more than you can imagine. Please donate now to help people affected by hurricane harvey. Your help is urgently needed. A new week on wall street. Investors await the kickoff of earnings season and closely eye the crisis in catalonia. Were sending the trading week straight ahead. The Trump Administration releasing new demands on immigration that threaten to derail that socalled d. R. E. A. M. Ers deal the latest coming up. Plus, hard time . Apparently not even the slammer can silence martin skrel hkreli youre watching Worldwide Exchange on cnbc. Im seema modi in for sara eisen. Breaking out the dance moves. I love it. I am. Lets get you set up for the trade. U. S. Futures pointing to an open, a modest open with the dow lower by 2 points. S p 500 higher fractionally. The nasdaq, which did close at a record high on friday and the tech sector, i would point out, also closing at a record high is higher right here on monday by around 7 points. Energy was a big loser on friday losing about 4 . Telecom was down about 2 . Well see what happens this week we have another key Energy Meeting between saudi arabia and russia to replace on wednesday the bond market is here on wednesday. Higher yields have been the story over the last two weeks. Turning to the Global Markets, this is a fairly higher session. We had some data out of china. Business activity in chinas Services Sector grew at its slowest pace in 21 months in september. You can see here shanghai composite up 3. 1 to close here. The hang seng and hong kong off and the australia asx 200 off by half a percent were resuming normal operations there. As for the european session so far, just like our futures, its relatively mixed and quiet the dax and germany and the cac in frans and the fatse up everybody eyes whats happening with the catalonia independence situation, seema. Well keep an eye on the uk as well. The fifth round of brexit talks between the uk and the European Union is set to commence in brussels today right now lets take a look at oil and see where it is trading. As i said, wt if crude closing down 4 on friday on these renewed tensions between saudi arabia and russia. Here on monday were higher for wti crude, 49. 34 ice brent crude down by half a percent. Natural gas is rounding up fractionally on the day. Take a look at gold. Were higher by around 6 last time i checked were higher by 9 at 1,284. If we take a look at the dollar board youll see that the dollar has been mostly weaker throughout the day here we go the euro stronger against the u. S. Dollar at 1. 17 and against the yen it is weaker as i just said lets check out whats happening with the turkish lira. The currency falling hard after the u. S. Embassy and ankara suspending all u. S. Visas. The turkish lira was down. Right now lower than 2 1 2 . Its getting a hit because of the fed Interest Rate issues all of the currencies do as well emerging marked stocks have been a bright spot so far in 2017 one of the best performing asset classes. Turning to this wall street agenda for the week, there are no reports today with the bond market and federal government closed for columbus day, but on wednesday were going to get the minutes from last months fed meeting. Thursday look for jobless claims in the Producer Price index. On friday its retail sales, the Consumer Price index cpi and Consumer Sentiment as well earnings season officially kicks off this week with results from the major banks. You have jpmorgan and citigroup reporting on thursday and bank of america and wells fargo report on friday well hear from black rock and nine earnings reports slated for this jeek bob dole, senior assets manager what do you think . Can earnings season help markets move even higher than we are trading at right now they certainly have been the catalyst for the market so far this year. I dont see why that should stop earnings should be reasonably good along with Economic Statistics youve just mentioned. Weve got that, of course, hurricane effect that we saw in the jobs report last friday. That could affect some earnings. It could be the right excuse when companies dont make it it could be a convenient excuse if companies dont, but the underlying trend for business is pretty good. You saw it in the isms last week. Bob, its dom if we talk about the markets at record highs right now, there is no doubt that the path of least resistance has been to the up side, has been for quite some time, but are there things that you look out for as potential signs that we may be due for that long awaited correction or pull back that we just dont ever seem to get youre right. The market is at all time high of course, earnings are as well so they go hand in hand. That doesnt mean we wont get pull backs my view is corrections are nonpredictable and random, but after the fact we always know why. Look, catalysts could be maybe earnings arent as good as we think. Maybe some adults leave the Trump Administration maybe inflation as we saw a hint of in the friday employment report in wages begins to move higher there are lots of things that could be, if you will, the fly in the ointment that cause a pull back. As long as earnings are doing okay, which they are, the path of least resistance is higher. Bob, one more thing here. If we talk about this idea that the sectors that have been leading the way higher have been technology, some of the financials have been doing pretty well so far, are there places in the marketplace that still represent pockets of opportunity, stuff that maybe isnt as wellvalued as other parts of the overall stock market well, i would stick with the areas that are doing best because of earnings. Were seeing improvement in financials selected tech i dont think is a blanket. Health care still has good tail wind in terms of earnings and valuations are not horribly stretched. I guess underneath your question is there a lagging area . Telecommunication offers some companies with some big, fat yields fundamentals are mixed the stocks relative to the rest of the market are pretty cheap. Bob, weve seen this increasingly strained relation 147 between turkey and the United States. This new news of this travel ban in terms of the visas between the two countries. How do you think investors are going to react to this news . Its never good news when you start fighting, even if its with words i didnt put on my list, i should have, things that worry me, the geopolitical environment. Iran, north korea, the list goes on this recent development with turkey is not good news. Turkeys, of course, been a neutral friend from time to time we dont need a barrier there. Two nato allies of course when were talking about the United States and turkey bob, well leave the conversation there thank you for joining us this morning. Bob doll have a good week. You as well. News out of washington this morning. President trump laying out his demands for immigration reform, and topping the list is the border wall. The white house is calling for full funding and complete construction of the wall it also wants to crack down on sanctuary cities and move to a merit based immigration system in a letter to congress the administration said these priorities must be reflected in any bill that addresses the children of undocumented immigrants or the so called d. R. E. A. M. Ers. Democrats are firing back. They released a joint statement saying we were open to reasonable Border Security measures but this list goes so far beyond what is reasonable. This fails to have any attempt at compromise. Schumer and pelosi thought they had a droo. R. E. A. M. E. R. Deal. Dove is dropping the latest ad campaign. The Company Posted a three second gif, whatever you want to call it, to facebook showing a black woman removing her brown shirt to reveal a white woman in a white shirt. Now many were outraged by the ad calling it racist. The company has since apologized saying its committed to representing the beauty of dye voers city adding that it missed the mark in terms of its overall message. So this is something where you can a lot of people are becoming much more sensitive, i guess. Yeah. To whats happening with advertising campaigns. It just goes to show that marketing managers and ad spend managers have to be that much more vigilant about the many layers of the onion that have to go towards some of these. Its controversial to say the least especially when you see that gif you have social media, that instant reaction you know right away. It can spread so quickly. Exactly speaking of social media, snl has also come under criticism for how it handled the Harvey Weinstein controversy the late night show did not mention the Sexual Harassment allegations that ultimately got the hollywood mogul fired from the company he cofounded. They said the snl dress rehearsal included weinstein jokes but they were dropped because they fell flat he left it out of the show because, quote, its a new york thing. That prompted donald trump jr. To tweet, out of curiosity, where is realdonaldtrump from seems like there could be more to that pass than this nonsense. It is a fairly controversial topic. Theres always next saturday. There is always next saturday. Mcdonalds is feeling the heat after its szechuan sauce disappointed fans. It debuted back in 1998 when the disney film mulan was released mcdonalds only brought back the sau sauce at select locations and it severely underestimated the statement for it long lines formed all around the country with the police being called to at least one location to deal with angry crowds. Mcdonalds responding to the tons of social media scrutiny. We hear you and were sorry not everyone could get Super Limited szechuan this winter it will bring it back for a longer period of time. I want to try it, too. Mcdonalds version of general tsos chicken. The farm ma bro penned a letter to a friend detailing his time behind bars as he awaits his skensing shkreli says, quote, things are not that awful here. Hes reading shooting hoops and playing chess. Hes adding, im teaching these prisoners new things and hopefully ways to change their lives. His cell mate snores and his bed is cramped and uncomfortable. Those are probably some of the worries. Yes if a Martin Shkreli and sports the new york yankees had their backs against the wall facing elimination in the American League Division Series versus the cleveland indians. The game was scoreless going into the seventh inning when greg bird connected for a long home run into the second deck at yankees stadium. The yankees held on to win 10 they had to gain four against the indians. Its a big deal here red sox facing elimination the yankees facing elimination it may not be great for the a. L. East but they got some love. Big win for new york. Boston and new york move on. From the baseball diamond to the football field the Kansas City Chiefs are the Lone Unbeaten Team in the nfl. They faced the Houston Texans last night in what would be an offensive shootout houston punted the ball to kansas citys tyreek hill. He worked his way to the sideline, went down the field 82 yards for the touchdown to increase the chiefs lead, 3920. They hold on to win 34 i was so happy. Tyreek hill is on my fan at that see league. A good one for them leak to see that. Of course. Coming up, why a cat a lan break away would be bad. Take a look at how trade is fairing in europe. Another record high for germany on the back of positive data just looking below that, down about 2 tenths of a percent. Well be back in a minute. Your brain is an amazing thing. But as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. Thankfully, the breakthrough in prevagen helps your brain and actually improves memory. The secret is an ingredient originally discovered. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. The name to remember. Welcome back to Worldwide Exchange. Im dominic chu. Time for the must reads. Stories in the op eds catching our attention. My pick is in the u. S. A. Todd, misplaced priorities behind pences performance at the colts game hes writing, quote, so like a Terrell Owens celebration, pences walkout was core rio graphed and rehearsed. It was also a distraction from what should be the administrations view. The Nuclear Standoff with north korea still simmers yet mike pence took time to travel at taxpayer expense at indy solely to score a win for President Trump. Come on, get your priorities straight it is on the front page now of the wall street journal. This message thats getting out there. Tim swarens who is the op ed editor says people should always stand for the national anthem, but this is really becoming a little bit more of a political stump than anything else the taxpayer issue, the cost of doing so is a little bit more than especially when there are so many other things happening around the world, other legislative priorities surprising that he took this level of effort to go out there for that. My pick is in the financial times. Its titled a catalan break away would be worse than the brexit he says exiting the eu and Currency Union at the same time is an economic Suicide Mission he says what makes this Catalan Independence much worse than brexit is that this would force an immediate exit out of not just the European Union but the eurozone as well which would be unprecedented and would potentially have implications for not just the equity market but the currency market as well. Its a good read as to how this cat a lan Independence Movement is and the context behind this huge standoff between madrid and barcelona. Its been a while now but a lot of analysts who cover the european side of things said this could be one of the major catalysts. We felt that same way with brexit we havent seen anything major happening. Were approaching the top of the hour and that means the team at squawk box is getting ready. This is now becky quicks time to join us from new york with a round of whats coming up ahead on squawk box. Good morning, dom, good morning, seema a bank holiday bond markets are closed because of columbus day but we have plenty of action taking place here guy adami is joining us as our guest host from 6 cl 00 to 7 00 a. M. Hes walking up right now. We also have a guest host from 7 to 9 00 this morning talking about all of the issues that you guys have been talking about today. Everything thats been happening politically with washington, with the tax reform bill thats out there floating around. Weve got grover norquist, jared burn steen and alex skrill we figure if the three of them can come up with any ideas that they can all agree on, maybe thats Something Congress can agree on. Were talking sports today we have the president of the milwaukee bucs, peter fagan talking to us about what hes seeing the take a knee situation and what theyve been seeing in the nba regard that go situation procter gamble, that big vote coming up on tuesday were going to be counting you down to the final hours of what to expect with the biggest proxy battle thats ever taken place a lot of things happening. See you in a few minutes. Speaking of sports, you have to ask Mohamed El Erian about his new york jets. They have three wins now. Yesterday they kicked the longest field goal in jets history. It was 59 . 57. 57 yards the longest in history. A lot to talk about becky quick, thank you so much well all be tuning in for squawk box. Up next on this show, Worldwide Exchange, were setting you up for the big trinweadg ek ahead when Worldwide Exchange returns i just saved thousands on my loan at lendingtree. Com. In less than a minute, i found out how much home i can afford. I like how you shop for loans the same way you shop for flights online. I didnt realize at lendingtree you can save money on almost any sort of loan. I consolidated my Credit Card Debt with a personal loan. I found a new credit card with 0 interest for 15 months. You just shop, compare, and save. And its all free. Go to lendingtree right now and start saving. Weve got some breaking news the nobel prize for economics has been awarded to richard phaler hes from the university of chicago. I have his book, misbehaving. Richard thaler he talked about what drove behavioral economics. It was a cnbc book he said, dom, keep misbehaving he signed it richard that i will ler. He thaler. Maybe it will be worth something. What did he say during that cnbc pro interview he talked about what drove a lot of it, what his feelings were behind it what drives the human decision its a fascinating read with regard to how people and those softer elements and how sure. Its an important part of the story. Its not fundamentals one can argue. There are things in focus as well absolutely. Speaking of economics, we have an economist with us were talking about anthony chan hes a chief economist over at chase. Richard thaler, a guy you know about. Is it interesting for you to know about how those forces drive economic Decision Making theres no question that behavioral economics play a role not only in the equity market but within the overall structure of the economy its been a challenge to see that. What would you make of where stocks are trading at right now, anthony . Record highs but we did see the dow move higher on friday. I think the equity market is anticipating Something Better is coming Third Quarter will be weak the consensus is 2. 8 for s p 500 earnings we know the earnings get beat anywhere from 3 to 5 . I would not be surprised if by the end of the Third Quarter were actually looking at 7 growth for the Third Quarter obviously the Insurance Industry because of all of the hurricanes are mostly responsible for the short fall, but the rest of the centers a lot of these companies have been raising estimates and still you think there is the opportunity to beat analyst estimates . I do. We still satisfy the dollar is weak thats a good tail wind for s p 500 earnings when we see the dxy. The value of the u. S. Dollar the euro is still pretty strong again the dollar. Now as a financial economist, youre kind of blending the worlds of markets and economics together there are a lot of things you look at with regard to how things could look down the line. As you look at the tea leaves right now, what is the trajectory of the markets overall . We talked to bob earlier the path of least resistance is to the up side what exactly is your thought on that is the path of least resistance still to the up side of stock . If not, what takes stocks down i think right now the path of least resistance is clearly up now i realize a lot of people are going to make a big deal that average earnings went up. 5 of 1 . This boosted wages because if you lose a lot of jobs at the low wage sector but you had upward revisions which were not contaminated the trend was higher you saw the auto sales, dom. 18. 5 million thats replacement because of the hurricanes thats going to con treb bought to the end of the week i have no doubt that were going to be looking at a headline number of consumers that will pierce through the 2 number we know the federal government targets that that gives us some idea of what the personal consumption is. Does the fed have a green light . Are we still on that path for Interest Rate raises dom, i feel much more confident and, seema, i feel much more confident that the federal government has a green light in december given the wage number and the inflation number. The hustle has an additional 906,000 jobs thats obviously stronger than the establishment. Anthony chan. Thank you for joining us we have a minute left. We want to highlight a few things to watch today. I guess that will be the nobel peace laureate Richard Thaler im going to be reading this. The turkish lira ill be keeping an eye on between the United States and turkey. Congratulations, Richard Thaler squawk box is coming up next good morning earnings season, really, kicks off this morning it just ended, didnt it President Trump calls on congress to fund a border wall as part of the deal for the socalled dreamers we have the latest from washington plus, Harvey Weinstein is out. The media mogul fired from the company he cofounded as Sexual Harassment allegations grow. Its monday, october 9th, 2017, and squawk box begins right now. Live from new york where business never sleeps, this is squawk box. Good morning, everybody. Welcome to squawk box here on cnbc we are live from the Nasdaq Market site in times square. Im becky quick along with joe keern nin. Andrew ross sorkin is off. Guy adami is with us. Great to be back. By the way, happy holiday everybody. Columbus day today. Right, joe . Yes yes, it is yes, it is not afraid to say it. No. Columbus day bond markets are closed, but the stock markets open. In fact, lets take a look at the u. S. Equity markets this morning. You will see it looks like things are slightly positive pretty close to flat line. Dow futures up by just over 3 points s p futures up the nasdaq up by 7 1 2 this all comes after another positive week. The s p 500 and the dow closed slightly lower on friday again, both of those avera