Good morning. Welcome to worldwide exchange, im sara eisen. Im willfred frost. Lets check in on the Global Markets after another selloff on wall street. Energy bore the brunt of selling yesterday. Futures looking calmer this morning. S p 500 futures up 6. Nasdaq futures up 17. Here we go again, on again and off again risk aversion. The volatility is back and moves are getting bigger. Were not seeing a triple digit move in dow futures. We saw that yesterday and the day before and the day before that. Well see if this relative calm lasts. The futures market has not been a good indicator of the days trade ahead. Whether the futures have been green or red, weve led to some quite significant declines. Do keep that in mind as we get closer to the open. Yesterday big declines across the board. Tech was the relative outperformer, only down 0. 6 . Apple significantly gaining. It was the only stock to be up on the dow after some of the Telco Companies released early sales figures for the iphone. Apple is a bright spot. The tenyear treasury note yield. Check on the mood that has been a source of concern for the markets. This jump up, tenyear above 170. 171. Yields plat this morning. Well see if that lasts. A global phenomenon, higher yields have spooked equities. The question is is the great big bond rally coming to an end . How sharp and violent does that come . A lot of talk about that at the alpha conference. The 30year moving up closer to 2. 5 . D it depends what the driver for yields is, if its rate hikes, not so much of a problem. If its a lack of confidence of Central Banks to efficate things moving forward, thats more of an issue. Well bring remarks from people far brighter than us in just a moment. Lets look at european equities. They did decline yesterday around 1 . Bouncing back today. Perhaps thats a sign that the u. S. Figutures market can hold to gains when we get the open. Slight gains across the board for europe, other than spain which is flat. Asian trade. Sort of a similar story. We had declines yesterday, but in fact declines again in asia. We have had a move in the nikkei down 0. 7 . Shanghai down 0. 7 . For the Broader Market picture, crude prices are rising. After falling as much as 3 yesterday. Small rise here. 45 a barrel is your price on wti crude. Brent 47. 19. We did get that api report on inventories last night. 1. 4 Million Barrels in terms of a build. That was smaller than expected. Its wednesday, so well get the government report this morning in the 10 00 hour. Watch oil prices on that. Also helps oil is the dollar is softer. The dollar has been stronger over the past few sessions along with higher yields. Higher yields make the dollar more attractive. Youre seeing that this morning against the yen. It is weaker against the euro and the british pound. The currency moves have been smaller than the equity moves and the bond market moves. Theyve been taking a backseat now. Always important to watch. If theres any fear the fed will raise rates next week or december, could see that move in the dollar. As for gold, lets show you the trade. Slightly higher on the back of that softer dollar. And there is the Bayer Monsanto imminent deal, which will be a big one. One piece of Economic Data on todays agenda, august import prices a key measure of inflation out at 8 30 a. M. Eastern. They are expected to slip by 0. 1 last month. To this mornings top corporate news, that is the big one, more than 66 billion deal. The largest one of the year could be close to done. Were talking about bayer reportedly set to announce its acquisition of monsanto as soon as this morning. This follows more than four months of talks. Bayer has increased itsed by to around 130 per share. The combination will be scrutinized by regulators. Both stocks are higher this morning. Monsanto up 2. 5 . The big question is can they finally seal the deal . Views on that in a moment. Wells fargo facing a firestorm of criticism following its sales practices. John stumpf appearing on mad money last night. Saying he holds himself accountable to the abusive practices at the firm. It may mean, some people say, is you have to resign. I think the best thing i can do is lead this company. Today we made an announcement about sales goals. We never intended for Product Sales or any dynamic or any part of a Management System to be misinterpreted. The bank was fined 185 million by the Consumer FinancialProtection Bureau and two other regulators for allegations its staff opened more than 2 Million Bank Accounts and credit cards for customers without their consent to meet internal sales goals. Cramer asked if he heard from warren buffett. He said hes talking to a lot of Share Holders but wouldnt talk about one conversation. Wells today is up 0. 4 . Yesterday it slid. Ending the day now as only the Second Biggest Bank by market cap in the united states. Jpmorgan taking the title as top spot. Of that interview last night, were billing it as a mea culpa saying he takes accountabilities. I think mea culpa is too generous a term. Hes saying, yes, the buck does stop with me. His comments and the cfos comments yesterday morning on a Conference Call suggest this was lower level employees who did wrong. They didnt want it to happen. But who was supervising . Thats the point. Theyre not saying we need to give back chunks of the bonus and things like that. Jim asked about that. He wouldnt go there. He said it is a board matter saying maybe there was some discussion about that. So maybe not a full mea culpa, but he said the buck stops with me. Well be under more pressure next week. He said he will go to that senate hearing. This story will not end. The premarket at least, their share price is up. Jack lew saying he wouldnt comment too much, said the claw back was a Consumer Protection issue, but that it was a wakeup call to the persons of this issue of doddfrank, and some saying it should be abolished but it was also culture problems at wells fargo. He also said no one is too big to jail as well. Not specifically talking about this particular issue. But something to be aware of. Giants of investing business and policy had warnings for investors at the delivering alpha conference in new york yesterday. Paul singer, president of elliott management, arguing that central bankers are to blame for the slow economy. Liste listen. Eight years of everdeclining rates and everincreasing radicalism in other monetary policies have not created a sustainability accelerating uptick in growth what they have done is created a tremendous increase in hidden risk. Risk that investors dont exactly know or faced about their holdings. I think its a dangerous time in the Global Economy and Global Financial markets. Blackstones ceo Steven Swartzman offering a less than optimistic stone saying stocks are overvalued here as Interest Rates give them a lift. He also joked around when giving his prediction that fed policymakers may react soon out of boredom. People have been talking about this on television for so many years, that the fed may do something out of the boredom of it all. Were daring them. Right. Youre daring them repeatedly, eventually theyll give up and do something. 25 basis points will move markets only because you all have become a proxy for the markets. You wanted to move something. Or else theres no news. A and but it wont make a difference to the u. S. Economy. We also heard from ray dalio who said the debt market is in a dangerous situation as Central Banks around the world lose their ability to stimulate growth. Theres only so much you can squeeze out of a debt cycle. Were there globally. When you cant lower Interest Rates anymore, we know the power of having the effect on asset price is going up because Interest Rates go down. In other words, they have a present value effect that causes Interest Rates to cause asset prices, and were reaching that limit. The inability to produce stimulation by lowering interest rat rates is at a limit. The heavy hitters with a heavy dose of economic pessimism. A lot of blame on central blanks for what paul singer called central bank extremism. What do you do with that information . Singer said you avoid g7 bonds. They are not safe. The idea that theyre safe havens is completely wrong. It almost felt like you needed a central banker there to defend themselves against the Big Hedge Fund players. Ray dalios point is the bearish one. We were touching on it earlier looking at the bond yield charts. Hes saying thats due to the lack of efficacy now that the Central Banks ability to do anything is slipping away. In the u. S. , if yields are ticking up because rates are going up, thats less of a worry, but hes suggesting thats not the reason but that Central Banks have nothing else to do. The seinger and dalio agreement agree with what trump was saying, that they propped up the markets artificially. I have to say, there was more warnings and worry from these Hedge Fund Managers about slow growth and lack of efficacy from central bankers than the political environment in the u. S. Donald trump, we tried to get that out of a lot of our panelists, but we didnt get too much. Don fits pzpatrick said we need pay more to the elections here than the Central Banks obsessions. Well bring you more opinions from yesterday throughout the show. Stocks to watch today. Sarepta therapeutics jumping more than 10 . The fda will make a decision soon on whether to approve the companys treatment for genetic muscular disorder. Samsung says it will perform a Software Update to limit the charge on the galaxy notes 7 battery at 60 . The update is only available in south korea for now. The company also running local ads apologizing for the global recall of the phone following reports that the battery could cash fire while charging. I wonder if that will have an impact on the early numbers out of apples iphone 7 sales yesterday. Hermes is suffering its worst day in six years. They are scrapping sales growth targets due to an increasingly uncertain sales target. Stores still have not recovered following the paris attacks in nice in june. Its down 6. 8 . Luxury retail across the board in europe is suffering today. The likes of richemont and swatch as well. Bill ackman has been a largest shareholder in the Industrial Gas and Chemical Company and led a push to cut costs. Jetblue says cfo mark power will retire on november 1st. He will stay on as adviser for the next year. And richemont is warning the first half product will be lower after sales were off 14 through august. Sales were down in much of europe due to lower tourism and growth in china was offset by weakness in hong kong and macau. The head of the European Commission calling for brexit to happen as quickly as possible. This is his first formal address in terms of a policy address. He gets on the microphone when he can. This was a formal policy address and he called for greater union. We are talking about Jeanclaude Juncker and his annual state of the Union Address today. Youre watching worldwide exchange. T in makes it easier to get here, the neighborhood is really changing. Im always hopping on the train, running all over portland. I have to go wherever the work is. Trains with innovative Siemens Technology help keep cities moving, so neighborhoods and businesses can prosper. I can book 3 or 4 gigs on a good weekend. Im booked solid for weeks. It takes ingenuity to make it in the big city. What if 30,000 people im download the new app . S. Were good. Okay. What if a Million People download the new app . Were good. Five million . Good. We scale on demand. Hybrid infrastructure, boom. Ok. What if 30 Million People download the app . Were not good. Were total heroes. Scale on demand with the Number One Company in cloud infrastructure. Hewlett packard enterprise. I think its a dangerous time in the Global Economy and Global Financial markets. The entire constellation of monetary policies post08 i believe has been strongly growth suppressive. There is only so much you can squeeze out of a debt cycle. Were there floeglobally. Dont start taking as much risk as you used to and get the same returns. You just cant in this environment. You want to focus on those countries where currencies will act as an offset. Uk and germany are the most interesting places to invest. I find rates and equity markets heavily disported now. Welcome back to worldwide exchange. That was a small bit of what we heard from yesterdays ail star gets at delivering alpha. Many delivering their views on the economy and this outlook of low yields and low returns. This morning in strasbourg, Jeanclaude Juncker giving his state of the Union Address. Reporter it was a passion in the and lengthy speech. I think he spoke in four different languages once again. Hes defended the European Union in his annual state of the Union Address saying brexit does not put the block at risk. He said the region was not social enough and the next year was crucial to deliver a better europe. Translator allow me to state here and today that we respect and at the same time regret the uk decision. But the European Union as such is not at risk. In fact, that was juncker giving the first policy address since the uk decided to brexit. Guys . Carolin, also on the agenda is bayers deal for monsanto. Will they finally get it over the line . Hopefully. This deal has been in the making for months, this is now the fourth time that bayer has had to raise that offer. People close to the matter say it will be closer to 130 a share. Monsanto is widely expected to have accepted that, even though they were originally pushing for a much higher price, 135 or 140 even. Reports also saying that bayers Supervisory Board will meet today to seal a tieup and takeover. That would create the biggest ag supplier in the world. Its also worth noting that the breakup fee has been raised to 3 billion that tells you monsanto has been pushing for protection if the deal pushes through for competitive concerns. Carolin, thank you very much. Still to come, the mornings top political stories including donald trump preparing to release some medical information. Well tell you what dr. Oz has to do with it. Stay tuned. Youre watching worldwide exchange. Okay, so whats our latest data say . Our customer is a 21yearold female. Heavily into basketball. Wait. Data just changed. Now shes into disc sports. Ah, no shes not. Since when . Since now. Shes into tai chi. She found disc sports too stressful. Hold on. Let me ask you this. Whats she gonna like six months from now . Who do we have on aerial karate . Steve. Steve. Steve. And alexis. Uh, no. Just steve. Just steve. Just steve. Live business, powered by sap. When you run live, you run simple. But the best place to start is in the forest. Kubo i spy something beginning with. S beetle snow. Kubo no. Beetle snow covered trees. Monkey nothing to do with snow. Narrator head outside to discover incredible animals and beautiful plants that come together to create an unforgettable adventure. Kubo wow narrator so grab your loved ones monkey dont even. Narrator and explore a world of possibilities. Kubo come on, this way. Narrator visit discovertheforest. Org to find the closest forest or park to you. Good morning. Welcome back to worldwide exchange. Donald trump is expected to reveal medical records today as he tapes a segment for the dr. Oz show. Hillary clinton will spend another day off the campaign trail because of her pneumonia. Tracie potts joins us from washington with the latest. Reporter good morning. The reaction on sunday to that pneumonia caught on video has forced the issue of these medical records for both candidates. We want to start with the former secretary of state, colin powell, who is now admitting he made some harsh remarks about trump. This morning former secretary of state colin powell confirms an email exchange where he calls donald trump a National Disgrace, part of the racist birther movement. Today is supposed to be a day of revelations for trump. Hes promised to reveal results from his latest physical on the dr. Oz show. I wont ask him questions he doesnt want to have answered. Trumps Campaign Manager says there is no need for a detailed medical history. I dont know why we need such extensive medical reporting when we all have a right to privacy. Reporter also today trump is promising to reveal his economic plan fully paid for after announcing he would expand Tax Deductions for child care. Those in leadership must put themselves in the shoes of the factory worker, the family worried about security or the mom struggling to afford child care. Really . This is the guy you want to be championing working people . Reporter president obama filling in for Hillary Clinton tweeting but still recovering at home. Shes expected to be back on the trail tomorrow. Back to the leaked emails and powell, he said there is more out there to be revealed. These hackers have wreaked havoc in parts of the political world. Tim kaine, the Vice President ial nominee for the democrats, his cell phone is out there as a result of one of these hacks. Which poll will you be watching . Which state will you be watching right now . I see a headline on bloomberg that trump is leading clinton by 5 points in ohio, one of the keys. Weve been watching a number of states, ohio is a big one. Florida is a big one. The battleground states that we most eventually reported on included arizona, New Hampshire and georgia what were seeing in the polls is that this race is tightening up. In red states where Hillary Clinton has been getting an advantage, and in blue states where donald trump is doing the same. Thank you very much. Both of our mustreads politics related, yours from ivanka and mine from frank lunz. Coming up, stocks to watch and a round up of the Global Markets calming down a bit after another turbulent day yesterday. Well get to the top headlines and including how many nelly fans are trying to help the rapper get out of irs debt. You are watching cnbc, first in business worldwide. Every stitch and seam of your Home Insurance, tailored to fit you and your budget. With unique features, like claim free rewards. Ohh customized Home Protection extra features all at an affordable price im going to live in this. In means getting more from your Home Insurance with an expert allstate agent. Its good to be in, good hands. They say the world does not revolve around you. But today, maybe it can. I am helping 1800flowers find the perfect gift out of trillions of combinations. And working with the new York Genome Center to find treatments as personal as dna. And i am helping sesame street make education unique to every child. Hello, my name is watson. Working together, we can outthink anything. Good morning. Developing deal news, bayer is set to announce its acquisition of monsanto as early as today. Wells fargos ceo telling cnbc hes accountable for alleged abusive account openings at the bank, but john stumpf is not ready to resign. Its wednesday, september 14th, youre watching worldwide exchange. Good morning. Welcome back to worldwide exchange, im sara eisen. Im willfred frost. Good morning to me as well. Lets get straight to the market action. Big declines yesterday, around 1. 5 for the s p and dow. 1 for the nasdaq. We are expected to minimize some of those losses today. The last couple of days, futures have not been a grate eat indic of where weve ended. They also have lost some steam the last hour or so the key is the global bond yield surge. Whether that is for real and a new trend. Absolutely right. We have three sectors in negative territory for the year as a whole, financials, Consumer Discretionary and healthcare. Well bring you the details on jim cramers exclusive interview with john stumpf in a moment. Europe is trading basically flat. We were higher. We lost some steam in europe the last half hour as we have with u. S. Futures. Germany up a quarter percent. The ftse up a half percent. Europe lost around 1 yesterday. Asian trade has been negative this morning. Weve seen the nikkei slide by about 0. 7 . Also shanghai declining a similar amount. Not really showing the bounce back that we might have hoped outside in europe that we did see in the futures market earlier. Just losing a bit of steam. Lets go Broader Markets. After a nearly 3 decline for the price of oil yesterday, its stronger this morning. Wti hovers above 45 a barrel. Brent, 47. 21. We will get the u. S. Governments supply report this morning on crude. Expecting a build of 4 Million Barrels. It came in less than expected on the api inventory report last night. Tenyear treasury note yield, above 1. 71. Thats been a bit of a jump up. As you can see, still historically low. Well see the speed of that move. As for the u. S. Dollar, it did strengthen yesterday on the back of those higher yields. It is weakening just a bit this morning against the euro. 1. 1231. Weakening against the pound 1. 3209. It is strengthening against the japanese yen. It was stronger about a half percent against the yen during trade. Even that position weakened in the last hour or so. Well see if the yen picks up strength. That could be a signal that sentiment is fading here. We could go back risk off. As for gold, lets show you the gold trade now. It is higher by about 3 bucks. To todays top corporate stories. A more than 66 billion deal. The biggest one of the year could be closed today. Bayer is reportedly set to announce its acquisition of monsanto as soon as this morning. It follows more than four months worth of talks. Bayer increased its bid to 130 per share it will be closely scrutinized by regulators it has increased the breakoff fee for monsanto in the instance of this deal not going through, to 3 billion which is another development today. What is the back story here . Lower gdp growth globally and harder times for agriculture and seed business . I think its consolidation needed across commodities in all areas. This is a particular area thats seen a lot of talk in recent years. The interesting thing its been a serious antitrust issue. Its to the like theres hundreds of players in the space. I think the difference which might allow a buyer to get over the line, its not just a simple ag company already. Its got a lot of healthcare an other chemicals. Its buying into an ag space. Basically the biggest ag provider in the world, but not one of the top couple of players. Wells fargo facing a firestorm of criticism about its sales practices. Ceo john stumpf appearing on mad money last night and telling jim cramer he wont resign though he does hold himself accountable. Have a listen. Didnt the buck stop with you on this . Of course, it stops with all of us. Especially me. No, im the leader. I get it. Okay. I said off the bat, i when we dont meet our goals of 100 right, im accountable. Im leading this company and leading it forward through this. The bank was fined 185 million by the Consumer FinancialProtection Bureau and two other regulators for allegations its staff opened more than 2 million bank cards for customers without their consent. He was also asked if he heard from warren buffett. The wells fargo boss said he has talked to a lot of constituents but would not talk about any one conversation hes had with a shareholder. Of course that matters because buffet lost 1 million on the slid slide. It ended as the Second Biggest Bank in the u. S. Should we watch for hearings . Hearing next week. I think the share price move yesterday particularly came on the announcement that theyre taking away the sales targets for retail employees. And people wondering, the biggest share price move in a single day since brexit but also since this broke. The fine didnt move the share price, its a question of will this impact earnings Going Forward . It hasnt spilled over to the other banks importantly, correct . We talked to richard cordray, is this something you are looking for out of other banks . He wouldnt comment but didnt imply its not a systemic thing. We have to take him at his word at that. It seems so widespread at wells fargo that its baffling that it isnt. The other thing on that going back to other comments from wells yesterday, the cfo speaking earlier in the morning saying it wont impact their sales taking away the targets. He said it was the people who wanted to hold on to their jobs, and the top sales performers werent driven by this. And it doesnt affect their compensation much. The cheating was by people desperate to hold on to their jobs. That may convenient for him to say that, but well wait and see. Premarket called higher. Wells fargo falling 3 on declines yesterday. Giants of investing business and policy gathered yesterday in new york. Carl icahn did not hold back on his views on the market and moved shares of herbalife. Landon has the details. Good morning. Carl icahn hit on two hot button topics. First market dangers. Icahn warning about the market saying there are problems regardless of whether the fed raises rates. Take a listen. I think there are tremendous risks. But i think anyone that will tell you it will go down tomorrow, next week, next month, next year, its sort of a guessing game. But you can look at the environment and i think its very dangerous. In other words, you walk on a ledge, you might make it to the end. But you fall off that ledge, you will really see trouble. I think that could well be. Second, icahn disclosing hes now seeking permission from his company to acquire up to 50 of herbalife shares, something he and bill ackman famously disagree on. Ackman is betting with a major short position. Icahn Still Believes herbalife makes good products. You have a model that i think works. And if im wrong im wrong. Im not here to sell herbalife, but im not just playing games buying the stock. I think it works. Look at this. Shares of herbalife rising on those comments. Back over to you. Better off private got attention. Fans of nelly are rallying to help get the rapper out of debt troubles with the irs by downloading his music. It started when the website spin calculated it would take more than 287 million streams for nelly to pay off his 2. 4 million in debt. One user tweeting saying if its hot in here isnt the number one song by tomorrow, we as a collective have failed nelnelly. The amazing thing is how many streams it takes. Its like 0. 00 something. You had meatloaf on eventually, he said you cant make, unless you are like taylor swift and through the roof with plays every day. Or lady gaga, your new song goes straight to the top of the charts. Especially as music subscriptions get cheaper. This week it was announced pandora was looking at a 5 a month model. Good for consumers. First Lady Michelle obama taking over the cohost duties on yesterdays episode of the Ellen Degeneres show. Its the first time anyone cohosted alongside ellen. They danced, played water games and interviewed steph curry and bradley cooper. Apparently she did an outstanding job. Not as good as you interviewing steph curry. A lot of people are chitchatting about whether she will become a talk show host because she did so well and she seems to enjoy it. Everyone is wondering what life is like after the white house. Maybe shes headed that way. Seems like she can do anything. She gives a political speech, everyone says shes going into politics. A big question surrounding the apple wireless air pod. Tim cook saying they will not get lost. Cook claims to have put the air pod on test, running on treadmills, walking, and dancing. This dancing video from last year. Yeah. But he does dance. Apparently did he with air pods. The 159 air pod came when the new i7 launched without the traditional head phone cac. Apple shares have done well on the back of bullish comments from tmobile and sprint on sales. That was the market gainer of yesterday. If youre listening to music with headphones and dancing, youre doing it by yourself. Thats depressing, isnt it . I guess some people do that. Hes pretty good. In the apple ipad commercials they would do that. Better to pull plugs out, get people joining in. Simone biles is caught in the cross hairs of a group of russian hackers. The cyberthieves gaining access to the world antidoping agencys Management System and leaked confidential medical data of many olympians. Biles who was diagnosed with adhd as a child took to twitter saying its nothing to be ashamed of. The ceo of the u. S. Antidoping agency also commenting on the attack calling it cowardly and despicable. Nobody is safe. Hacks left, right and center. When we come back, the mustreads including an oped from ivanka trump on child care policy. First as we head to break, here are highlights from delivering alpha yesterday. Many of the conversations turning political. It takes a desire on the part of congress to do something hard. Hard things dont happen unless theres a real, real desire to do it. We are concerned about activist Government Intervention in markets. And in the economy. This administration and the next administrati administration, which everlectie intervention. We dont want extremism, we understand things are complicated. I believe it would have been vastly different for the growth rate of the American Economy and the problem of underemployment and unemployment had mitt romney been elected president. 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. Now to the stories catching our attentions in the papers this morning. Mine from ivanka trump, the trump plan will help working mothers. This has become a key issue for her and rim. Ivanka writing for me motherhood is a gift and a tremendous source of joy yet also the greatest predictor of wage inequality. In 2014, single women with children are 94 cents on a mans dollar. Married mothers made only 81 cents. She goes out specifically to outline the ways that trumps plan would help make, for instance, child care expenses tax deductible for families earning less than 500,000, establi establishing accounts for child care and enrichment activities. Clearly things important to her and meant to reach out to the female voter. Absolutely. I think its interesting. Her involvement in the campaign has been a bit more selective than i would have hoped. As you say, she does have the ability to reach out to the female voter which is much less in the wheelhouse of mr. Trump. I would have thought she would have been rolled out more. Maybe she will be as we get closer to election day. My pick is entitled hear is how donald trump it win the presidency. Written by frank luntz. He writes this campaign has been a tale of two trumps, the good trump has an outsider antiestablishment appeal that voters respond to the bad trump traffics in gratuitous insults. He goes on to say if mrs. Clinton is too scripted, mr. Trump is not scripted enough. The more he talks off the cuff, the worse he does. She ab vessel for americas anger not an outlet for his own personal rage. Its a great piece. Its frank luntz, his view of how trump can get himself over the line saying because of the Electoral College breakdown, secretary clinton is still the favorite but polls are narrowing. Some tips on how trump can capitalize on that momentum. They have changed his image a lot. A lot of articles written about how he has become more president ial with his new campaign advisors, you dont see as much of off the cuff sort of remarks that you used to get at the rally in the early days. Interesting to see his Health Announcements that were expected today. Were approaching the top of the hour, so the team is getting ready for squawk box in new york city. Brian sullivan joining us with a look at whats coming up. Good morning. Good morning. Thank you very much. Listen, you guys have been talking about the potential for that Bayer Monsanto deal. We could get that 66 billion deal to cross sometime during the morning if it does, well give you the headlines, the deal, the reaction. Well continue our coverage from delivering alpha. You have been hitting the comments from ray dalio, carl icahn, well follow up on them. And volatility is back. It really was a snoozer of a summer no the fsu summ summer, now the futures are moving. Is it fed related . Election related . Oil related . We have delivering ail fashlpha markets and your money. Its still dark outside. A lot to do. I dont need to complain to you guys about getting up early. You actually, i dont think, go to sleep. Of course we do, brian. The focus for us always is getting well rested to deliver worldwide exchange. In the dark, as always. Youve been in america already too long, my friend. Great stuff. Look forward to it. Squawk box in ten minutes time. Still to come, the big factors likely to drive the trading today. Ction. No, its a fact. Based on hundreds of proprietary and open data sets folded into a realtime, actionable analytics model. Nine. Eight. Three. Five. Two. Youre not gonna round that up . You dont round up facts. Powerful analytics driving decisions for the worlds most valuable brands. Hewlett packard enterprise. Its a very specific moment, the launch window. We have to be very precise. If were not ready when the planets are perfectly aligned, thats it. We need really tight temperature controls. Engineering, aerodynamics a split second too long could mean scrapping it all and starting over. Propulsion, Structural AnalysisMaple Bourbon caramel. Thats what were working on right now. From design through production, Siemens Technology helps manufacturers meet critical deadlines. I think thisll be our biggest flavor yet. When you only have one shot, you need a whole lot of ingenuity. Good morning. Welcome back to worldwide exchange. Were higher to the tune of about 50 points for the dow. Of course yesterday we saw significant declines, about 1. 5 for the dow, 1 for the nasdaq. Joining us is ken cayman. Volatility is back. Is that going to continue for the rest of the year . Yeah. I would think it would be because we will be headline driven for the rest of the year. We spent the summer with 40 sessions not seeing the market gain or lose more than 1 . The market is getting nervous that we were banging our head on the ceiling. My take is that we were consolidating the gains that we roared back from through the brexit debacle. And we will see now much more headline driven angst as the fed grinds their wheels and as the election gets closer. Do you see this recent bound of turbulence having do with the trump momentum in the polls or chock it up to the fed and bond rates move . Theres no surprise the market would be more comfortable with Hillary Clinton because shes more of a known entity, where trump is the story of the day. The markets dont like going from story to story. Theres no doubt the big story has been the fed. As i was preparing my notes today, i looked at my notes from last september, and last september i was saying i dont believe the fed will raise in september. Theyll probably wait until december. I wish they would get it over with now. Lets talk about the move in the bond yields. Expectations for rate hikes have slipped in the last week or so. Bond yields have continued their march higher. Is that a worryi ining move . Does it suggest the bond bubble is about to move . I think a number of things. One is its accepting the inevitability that rates will be moving up, but also evidence that the fed doesnt have the control of the curve they would like. People are just so starved for yield. Any time that something comes up that scares them that says the bubble may be bursting, theyre running from it which is having an effect on yields. Theres just a lot of noise in the marketplace, because you have people on a hairdunn trigger. At mso you have been buying financials and technology. Both have outperformed and have a rotation going on. The question is can it continue if we get heightened volatility . I think the financials are interesting in that they have the strongest Balance Sheets theyve ever had. Whether they did it on their own or bludgeoned to do it by regulators. You have to look at fact theyre stronger you could have said that for months. I have been. But its a much longer term play. As Interest Rates hopefully start moving back up, they will get pricing power. Finals having a good summer, theyve started to slip again recently. Part of that with the wells fargo scandal. Is this a buying opportunity for the banks and for wells specifically . Im not going to make a call specifically on wells. I would say if you have a longer term outlook here and are looking to get past the election season, owning the financials into next year should do well. We will start to see finally a gradual uptick in Interest Rates that weve been waiting for. The economy is doing better. As were getting these conflicting reports from the fed speakers, which i wish they would stop doing that, its because we are starting to see signs of strength. Great stuff. Thank you very much for joining us. Thank you. Ken kamen. Lets highlight what were watching. Im watching apple. The sole outperformer on the dow yesterday. Making a move up. Should be bullish for the overalomar ket. Doesnt seem to be correlated to the market specific to good iphone sales. Im watching that deal. Can bayer get the purchase of monsanto over the line today. Good morning, Global Market jitters, well tell you whats keeping some of the worlds most powerful investors up at night. And an apology from john stumpf saying hes accountable for abusive Accounting Practices at the bank but is not ready to resign yet. And emails hacked. Colin powell calls donald trump a National Disgrace in an email series. And the former secretary of state says the hackers have a lot more. Its wednesday, september 14, 2016, squawk box begins now. Live from new york where business never sleeps, this is squawk box. Three days. Still crying. Good morning. Welcome to squawk box on cnbc. Im becky quick along with joe kernen and andrew ross sorkin. You can see this morning once again we see a move close to 50 points for the dow. This time in the upward direction. This comes after the dow was down by about 250 points yesterday. We have seen three days in a row where the dow moved 200 plus points. In one case almost 400 points. A bit of volatility creeping back into the market. This morning s p futures are up by 5 points. The nasdaq up by 15. Overnight in asia, the nikkei closed down by 7. 5 . Hang seng was down slightly