eu investment plan saying it's more than just moving money around. >> the money we are putting forward today comes from what already exists. shares in thomas cook plunge after ce o'harery green forced to pack her bags. . and investors buying into europe's online fashion retailer after orlando beat third quarter sales. sdwla you're watching "worldwide exchange," bringing you business news from around the globe. and welcome, everyone. it may be a short week due to thanksgiving. but that does not mean it's been a busy week. >> much more important. hello. hello. >> how are you? >> got a -- >> it's fantastic, yeah. >> absolutely. >> a new couple of days, right? >> we're going to have fun. >> wilfred is doing the slightly earlier show. i'm doing this one. i have one this afternoon. >> we're all over the place. >> as massively busy week. we were saying this week is crucial when it comes to all the data. >> absolutely. especially when you talk about opec. in the last 30 minutes, in fact, iran's oil minutester has called on unity from opec amid divisions on where the cartel cut production in the wake of sliding crude prices. speaking to cnbc, he said he would meet with his saudi counterpart to discussion the situation later today. steve is with us live from vienna. >> an absolutely fantastic spread of news. last night, we could the russians, of course, the boss of rosneft with the mexicans here, as well. russia and mexico aren't in opec. they're trying to get some sort of a deal. they did not get a deal. there was no deal between the saudis, the venezuelans, and the russians last night. some really interesting comments, as well, because bearing in mind iran wants to produce more. iran wants to challenge saudi in terms of production. he wants to challenge saudi for dominan dominance, of course, generally, politically in the middle east. you have this sunni/schiet battle going on, too. listen to this. >> you don't need to receive any -- from the iran -- on increasing production. it will -- we have no limitation for that. . >> now, those of you who were paying attention will all know that we're talking about cutting production here in opec this week. whether it comes from the official level of 39 million barrels down to 29, 28 1/2, who knows. the iranians are talking about increasing production by a million barrels a day to get up to nearly 4 million barrels. they are currently exporting a million, out of a total production of 2.7. so the iranians want to put mow mother on the table, still believe they can increase exports regardless of those talks, as well. he's just told us that he's going to put more on the table. does that say to you that there's going to be a deal to cut production in opec tomorrow? if there is, is it just going to be numbers? yeah, we like price stability. mr. ramirez, we want $100 a barrel, not $78. we think that's a fair price. we think that's a price where investment comes back to market. but who is going to cut production? it's not the libyans, it's not the nigerians, i don't think it's iraq. it will fall firmly and squarely on the shoulders of gcc and the head of the dcc, clearly de facto, the saudis. if the saudis say you will cut, we'll see some form of price support. otherwise, it's going to stay down here. some members think at the current level, it will force some investors out of the market. who are they talking about? i'll leave that one there to you. they could not be possibly talking about u.s. production, could they? i'll leave that one to you. >> we'll be hearing a lot more from steve throughout the stay. stay tuned for opec coverage. it's a big day coming up tomorrow. harry, chief market strategist from bnp paribas, what do you think? good morning. >> good morning. it will have to be a meaningful cut in order to support the market. we're looking for. >> narrator: between 1 million to 1.5 million in cuts per day. it is in their best interest to reach the solution. we'll see if opec pulls a rabbit out of its hat at this meeting. >> i know a lot of people would disagree sxgs, look, we're not hurting yet. there was a time when oil prices are lower than where they are now. we don't have to hang on to $1 headline million barrels a day, do we? >> certainly there are various opinions out there. the overall consensis is devices 50/50 as to whether or not they do anything. some argue the prices have to go lower to shut down u.s. oil production. but in the end, relative to the second argument, we know u.s. shale oil is here to stay and opec would have to keep prices low for probably over a year before they start denting u.s. shale production. why go through the pain? it is in the best interest of all opec members to have a production cut that brings the overall collective production back to the level of the call on opec oil, which falls dramatically in the first quarter of next year. >> weakening global demand and the stronger dollar, that's weighed on the price of oil. but help me understand why the geopolitical markets are weighing on this instablth. the price of oil is off about 30% since june 2014. >> yes, absolutely. geopolitical risk is important insofar as it threatens oil production. so far what we've seen in iraq is oil production continues and in libya, of course, oil production has returned. the back drop of the economy is certainly there, but in terms of basically the price of the dollar, its strength, it has strengthened. that has put a damper on commodity prices. but in the end, it's all about the -- >> if opec does, in fact, cut oil production, where do you see production headed from here? >> if opec cuts in a meaningful manner, we think oil will recover above 80 in the first instance in the case of brent and head back towards 90. >> thank you for your time. >> thank you very much. >> now, if you're just joining us, it always helps to check in on our european equity markets just an hour into trade this morning. and we're flattish at the moment. the stoxx europe 600 flat, a couple of points higher right now. you would have noticed coming off a little bit in trade here within the last couple of moments or so. we've been open for just over half an hour's time on our european equity markets. our main european index showing precisely this. we've had some three days of gains in a row. for some, we're heading into a quiet week, given that we've had the thanksgiving holiday coming up stateside. so a lot of traders not being super active stateside, having a long week, having a holiday. the ftse 1100 and the xetra dax, those trending higher this morning. the cac 40 and the ftse mib off shy 0.5% as it were for these two european markets at the moment. when looking at some of the currency cross trades and the currency markets out there, you're looking at the euro/dollar hanging on to this range-bound trade we've seen for quite some time now. 1.24/1 is.25 are the magic numbers we've been looking at. we've had an awful lot of rhetoric region the last couple of sessions. distinctly, it looks like we're ramping up the rhetoric, moving up towards easing measures. promising to lift inflation, opening the door to a more aggressive stance on aets purchases. talking about how the ecb needs to be ready talking about additional measures. we were hearing they were calling for additional easing measures and so the list goes on. we're seeing some of that reflected in the currency trades. i want to mention the aussie/dollar, we've seen it stabilization against the greenback today. we saw a bit of money coming off the back of those comments. this after warning its pay for growth would be moderate next year amid trading conditions. you to, what's going on? helia has more on this. >> louisa, they really shocked the market today. that's nothing to do with their results. the woman who basically has spearheaded the massive turn around with this travel company, just 2 1/2 years ago was on the brink of collapse with debt for over 11.5 billion pounds. herery green was parachuted in. she's taken a company 15 misdemeanor market cap to a 2 billion pound market cap. but, today after the -- she has stepped down. now, the chairman was telling analysts, no, it's not a surprise, it's not a shock. it's a unanimous decision by the board. we're now ready for the second face, which needs to be managed by someone who is a travel expert. amazingly, the chairman was saying, oh, no, we've had this plan in place even as far back as a year ago when we appointed peter to the position of coo. we had this transition in mind. now, most of us in the world of media and investors that i spoke to are on the shareholder register, taking a pummeling, quite frankly today, are not believing this one iota. basically, we have harriet green to come on our show to talk about how brilliant thomas cook is. this is not a woman that had already packed her bags. this morning, pr's emergency prs were called in. they still didn't know early this morning what her package was going to be, when she was going to leave. today, they say that she's leaving with immediate effect. she has six months' notice period effective from january the 1st. she will do quite well because her options were share price at 14 apiece. she will make a lot of money out of it, bit shocked investors. >> a developing story and one of the losers in today's trade. if the ecb does buy government bonds, it would do so according to the ecb capital. it rejects the notion that sovereign bond buying evens pressure on government for reforms. constancio says not effective to buy sovereign debt. one of the ropes we've seen markets rebound over the past couple of weeks is the dovish commentary coming from the ecb and the hope or the expectation that the ecb will unveil full blown quantitative easing. >> important. thank you very much for those. we'll recap those in a bit in case you missed them. let's head straight out to asia and hear what's been going on in our asian markets. sri jiggy jegarajah joins us. >> i've been called a lot of things, but jiggy jay is the first. louisa, good to see you. a number of stock-specific stories. miners were in pretty good form, especially resolute mining. and gas was another stand out. bear in mind the index has turned around two weeks of relative underperformance compared to the broader region. but we are still down by 2.6% for this month. elsewhere, we are finding the shanghai composite basking in the after glow of that surprise rate cut that we saw by the pboc at the tail end of last week. still looking at fresh three-year highs for the index at the settlement and the railway stocks did pretty well today, helped by new project approvals. the markets really waiting on more clarity over what the market is telling us. we get closer to that referendum on abe-nomics. dragging the broader index down by 2.9 the%. back to you now. >> thank you so much. coming up on the show, has twitter got bieber fever? find out why the social networking site could be upping its game. and winter weather could be causing havoc. we are live at new york laguardia airport for the latest. and coming up, one expert tells us which housing stock you should be stocking up on. welcome back. ecb's constancio says if the european bank buys bovendz, it would do so according to the capital. he rejects that bond buying eases pressure on the markets for reform. the market likes what constancio has to say. let's get market reaction. michael o'sullivan, cio at credit suisse private bank, great to have you here. what do you think, does this means that the ecb will unveil quantitative easing? >> we know how it takes to do what we must take. i think what the ecb will do at the next meeting, they will not announce qe formally, but talking about qe in europe would work and would work well, etcete etcetera. so all of us can reach rhetoric. it's good news for us. but in the long-term, when one person has gout, another has a broken leg and another has cancer, giving them all morphine will help, but it won't solve the underlying problem. you have some political changes and realities emerging in countries like greek. but qe is a big story. >> so me mind, i think it's too early to action for a number of reasons. they need to see ijs suspicion and doubt amongst some of the ecb members that qe will actually work. currently, smkts have done a lot of the work already. >> other question is, can the ecb unveil sovereign bond buying? >> i think unlike the u.s., q he works very, very well. the financial setup is different. some of those doubts are actually well founded. >> we've got other stuff going on today, as well. the so-called european funds or extra teenic investment, it aims to hit more than 300 billion euros in investing, as well. the eu is expected to inject some capital. >> the money today comes on top of the 630 billion. at facial and regional. >> initialists like this, are they going to make a difference? >> i'm a pro european euro skeptic. i tried very hard to look at some of the comments from national governments across europe. many of the governments don't now how these projects are. they have called shovel ready projects ready to go. a bit septical on this. i don't think this is a game changer at all. >> how are they going to funds this plan? where is that money going to come from? >> i think a small portion of the money may come from the eu, but until investors have an idea of those projects, i'm not sure they're going to commit capital. >> i want to get back to the euro for a second. there are a lot of people short the euro at the moment. do you think we will hit 1.20? >> i do. i think the other side of this is the fed. when we get into april, may of next year, the fete will be ready to put the button on the first rate increase. so possibility 120 at the start of next year. >> and if the euro does hit 120, should investors get sent rick on stocks? >> yeah. european companies, which is what we invest in, the picture is quite different. you've got the euro being weaker, corporate profits the best in about 16 years. still the market outlook is much better. >> michael o'sullivan who stays with us, thank you. >> i'd love to hear what viewers have to say on whether or not they think we'll have quantitative easing. find us on twitter. @cnbcwex. >> still to come here on the show, will it be another quarter of growth? we have our finger on the pulse of the uk economy just in a couple of moments. and it is all about opec this week. iran's oil minutester tells cnbc take iran does not need external permission to produce output. a frsh injection of funds. jean-claude juncker unveiling an ee ei investment plan saying it's more than just moving money around. >> the mope we are moving today comes on top of what already exists. shares in thomas cook plunge after ce o'harus green is forced to back her bags. the holiday firm warning on the pace of growth next year. investors intie into europe after a jump in third quarter sales. hi, everybody. welcome back. i are watching "worldwide exchange" here on cnbc. looking at the u.s. gdp data, third quarter gdp for uk confirmed at 0.7 plus, plus 0.7% quarter on quarter. 3% year on year, so bang in line with investments. meanus 7% quarter on quarter. third quarter services output, slightly higher. industrial output revised slightly lower. we're looking at household spending being revised up just a dad, as well. so that data is just hitting the wires. is the uk going to be hiking rates before anybody else? >> i mean, very good question. if you had asked me that maybe six months ago, i would have told you there was a high probability the bank of england could raise rates in november so they would have already done so. a rate rice is overdue. both economies posting pretty good headline numbers. i think the dilemma for the bank of england is where and when to position the rate increase. i think they come back next year, they will have raised rates two or three times. what makes you say that? going back to the speech, the indication would have been that rates would have gone up by now. >> i think the messaging from the bank of glnt has not been soothed because he's cloudily declared potential rate rise. so the actual -- is uncertain. if you go back all the four or five business cycles, many are at levels where the bank would have been raising rates at two or three times. they have fallen into the mantra of central banks are keeping rates lower for longer. >> that is such an interesting trend that we are witnessing in developing economies. the uk seeing growth of more than 3%. yet consumer prices continue to fall. will that be a trend in 2015, as well, or do you think we will see a pick up in healthy inflation? >> i think in the developed world, at least for the first half of next year, inflation is going to be pretty -- you have saudi acting in the oil market. that will keep headline inflation muted, as well. growth inflation is just begin to go pick up. >> thank you for your time. and a stock-specific story, phaser has been courting astrazeneca for some time with a six-month cooling off period ending today. will the two companies become an item or will they go their separate ways? catherine, given the reporting you've been doing, what is going to happen? >> it's the possibility things have receded. it's very difficult to start to get anywhere hope on the economy. quite frankly, they're all petrified. i think there's still some rationale. they've got astrazeneca. we don't have much clarity. while there has been some move in the u.s. due to conversion, we don't know what those regular hagzs might be. and there's there's still the rationale of a good tight line. and they have plenty of off-shore cash they need something to do with. now b, on the other hand, some of that tax inversion is going to be removed. pfizer has started looking to other companies as to possibly fill that pipeline being the most recent. >> what they're trying to do with that pipeline. >> they're looking at really ambitious revenue target, i think. they've been quite lucky this year because the generic competition for nexium, which is art heartburn drug, hasn't come through as quickly as expected. if you see any signs next year that they're not going to hit that key target of getting back 2013 revenue to 2017, shareholders are going to start asking, hang on when we have a potential 55 a share, why didn't you go for that? lay off the mixing of the red wine, right? thanks, wilfred. wilfred has come in for us this morning, right? anyway, thank you very much for coming in. the u.s. justice department is reportly probing allegations that an hsbc employee leaked confidential client information to a major hedge fund. "the wall street journal" is saying the incident likely occurred in 2010 when hsbc was advising uk prudential on the acquisition of aig's asian life insurance business. a senior trader reportedly alerted the trader at moore capital. and hsbc this morning, pretty flattish. helia joins us, our u.s. business editor with more on this. helia, it doesn't sound good for hsbc. leaking information? >> for hsbc, more capital, remember, more capital was at the center of the uk's biggest raid by a regulator. eventually one of its employees admitted wrongdoing. this in case, it's more difficult. why is that? because the fx market was unregulated. what regulators in the u.s. are looking at is whether this particular individual at hsbc passed on information ahead of a block buying of dollars. that gives you a lot of idea about the flows of that exchange. and so the question is did this fx trader at hsbc have material nonpublic information? that he passed on, hello, how are you doing? guess what's happening in china? eurozone looks like this. by the way, this big m&a transaction looks like it's going to happen. so it's higher than what we've seen. they say, okay, we put our hands up, we pay you some money and you move on. >> thank you very much for that, helia. u.s. fourth quarter revenue fell across every segment missing street estimates on weak enterprise demand for hp. profit dropped but was in line with estimates. on the conference call, meg whitman said turn arounds aren't linear and the company is right where it should be at this point. right now, trading down 1.5% in frankfu frankfurt. shares in hp up about 6.5% in the last three months. this is the first earnings report from hp since they announced that split. investors want more clarity. how do you unlock shareholder value, making both companies profitable and meaningful to the world? >> notebook computers. they're saying that this was kind of a one-trick pony in terms of the results we've seen already. but whether it can continue or not, we simply don't know. it's too early to say. cash dollars looking very, very good for them at the moment. meg whitman seemed to underline that, breaking up as well as a chance to get on top of the cost cutting measures that need to be taken. it's a complete overhaul for the company. >> you were just mentioning pcs. pcs are seeing somewhat of a stabilization or recovery, if you will. that's been one of the reasons we've been seeing intel beating street expectations. hp citing growth in its decision up 4% year over year. is it the comeback of the pc or are laptops going to -- >> would you buy a pc? >> i would not. i love my tablet and i use that for everything. >> i found the inbetween. i have the tablet and the keyboard that you attach, but it's unattachble, it's magnetic. >> especially as women having a purse, you want something that's light, that you can take around. brick it out in the cafe. >> i don't schlep it around. when i leave, i'm doing other stuff. i'm busy. but cnbc has learned just which company twitter's cfo anthony noto may have been referring to in his arrant tweet this past week. reports say twitter has held talks with shock. have you heard of this app inspect it's a selfie photo app backed by justin bieber, the music star. this really is -- this sold the era of the selfie. do you take a lot of selfies? >> i'm not a big selfie fan, but i think you're right. it is the word of the day and it's been something that's been so popular, especially with the use of instagram and people wanting to basically frame their existence. >> a strange thing, huh? i have to desire to leave this planet being remembered for the amount of selfies i took. >> but kim kardashian might not great. >> i can see the point. but at the same time, it's a massive business and it does seem like an entire generation growing up on taking pictures of one self. >> i was in paris last weekend, and in the room where the mona lisa is, everyone was there taking selfies. >> usually you take pictures of -- >> she knows so many people. >> exactly. >> there's also the whole thing that be careful you're not -- you make yourself look nice and all that with your filters. i don't know how to use them. but the real thing is to -- you see the picture and you're like, wow, and then you meet them in person. you don't want that, right? don't use too many filters or you end.you know, disappointing people. anyway, we79 to know what is your solvy game like? do you ever take them? >> why not? >> jeff has been tweeting in to say good morning, ladies. no selfies. i'd make too many enemies. >> lol not being lots of love. >> i'm pretty sure it's laugh out loud. you can twreet us @cnbcwex. our handle is on the screen. >>@louisa bojesen. you can find us there. again, your selfie, that's what we want to see this morning. speak with tech, yahoo! is reportedly urging apple to dump google as a research default program. their contract expires next year. last week, the mozilla replaced google with yahoo!. shares trading basically mixed at this hour in frankfurt. >> do you use the -- i won't mention any specifics, but do you use any of these taxi hailing apps? >> absolutely. they're all very popular, and i find uber many times is cheaper than your average taxi here in london. >> well, that's the argument. that's definitely the argument. rose, my producer on the evening show yesterday was saying she's downloaded this thing where -- i think her app for when she gets into the cabs, whatever cab, then she can play her own music. >> yeah. that was a deal recently announced i think just last week. >> george clemson. old one, for sure. >> i would pick beyonce. >> we should ride together. the best cab ride in london. uber is reportedly raising at least $1 billion in new funding. it could value the ride share service between $35 billion and $40 billion. investors may join in the current round of financing. gave the company an implied value of $17 billion. amazing. >> yeah. coming up on this show, we are live in vienna searching for clues on whether opec will agree on an oil production cut. angola's minister gave us somewhat of a sneak peek. >> more will shift the agreement. >> are you happy with the current price levels? >> is better. zapped it, right to our house. and that's how they got it here. so, santa has a transporter? for the big stuff ... and it's a teleporter. cool. the magic of the season is here, at the lexus december to remember sales event. this is the pursuit of perfection. now, lower oil prices are become ago tailwind for japanese airlines and shipping companies. makiko has the story live from tokyo. makiko. >> yes. crude oil prices are currently hovering around the mid $70 range per barrel which is the lowest in roughly four years. it seems rates has been over $100 a barrel. so if crude remains around $80, it could boost japan airlines operating profits for the second half of physical 2014. ana may see a windfall of over $30 million for the same period. airlines worry that the shark weakening of the yen would eat into profits, but the leg up from lower oil prices has helped overcome other impacts such as higher fuel costs. the weaker yen drew in more passengers and shipments overseas. overall, the airlines expect to see a 4% to 5% hike in operating profit for the year. cheaper oil has given a boost to marine and land shipping businesses. the heavy oil used by such firms is trading at $470 per ton, which is 10% to 20% lower than the prices and will bring a significant uptick in prices. major wholesalers are projecting ads 600 million loss which may grow further. that's all from the nikkei. back to you. >> makiko, thank you so much. now, the weak oil price has caused the likes of oil sands projects. in this report, jackie deangelis examines the viability of such projects if the oil price continues to fall. >> alberta's remaining oil reserves stand at around 170 billion barrels. that's about 13% of global oil reserves. but the majority of it is in the oil sands, a resource that's hard to get to, to process and transport. so how important is the industry to canada's economy? and are oil sands companies a good investment? >> it's certainly the big powerful growth industry in canada for the near future and has been for a long time. and the government industrial leaders there are pretty keeb on making sure they're not as reliance in the future as they have been in the past on the united states market for the output of that industry. the global output is very strong. >> but that projection relies on continued increased investment. and in the current environment of lower crude prices, that is under threat. despite the fact that the carbon tracker institute calculate that's up to $271 billion worth of investment could be wasted if crude prices continue to fall, many producers say they are well placed to survive. >> currently, there's a report that the general world supply cost averages about $70. we are in the $35 to $45 range. so it is not the marginal barrel. i think a lot of people don't appreciate and understand what we've been able to do in the last few years, and the amount of technology and the evolution of where we're going, we still have a lot of value to uncover and we have a lot of running room, even at the prices that i think will impact a lot of other people around the world whether it will truly have a real impact here for us. >> so do the benefits outweigh the risk? the industry is a giant of canada's economy, contributing nearly $100 billion to gdp. the same profit is what the canadian government is banking on. and it's not just energy companies contrinting to the booming economies in canada. everything from finance to the manufacturing to the hospitality businesses all helping to get this economy going. it seems even with lower oil prices, canada's focused energy plays look set to keep making money. but the risk is if prices remain subdued, the companies may scale back future spending and that would mean fewer jobs and less economic growth. jack jackie deangelis from cnbc. >> now, the outlook for global sovereign ratings is set to stabilize next year according to an outlook for moody's. the report suggests fed rate normalization and eurozone weakness are the top risk to this baseline scenario. we're now joined by alex wilson. quite an interesting report you have here, alistair. you one of the big take aways is the normalization and stabilization in the credit world. even though we are seeing china cutting rates further in 2015. >> we see the broad picture. it's up a number of years. we recognize that there are down side risks. i think if we perceive the shock, mainly on the downside, not the upside. and the potential for lower than expected global growth particularly as a result of lower growth in china is certainly one of those risks, yes. >> the out of the four possible shocks that you identify, which one is the greatest or the greatest risk? >> probably the most immediate the is the potential impact of fed normalization. which is something that is expected. it will be a smooth transition. we saw a couple of years ago and earlier this year the potential for disruption to capital flow and exchange rates should asset prices be -- fears over disruption normalization process. >> and where does the ecb fit into kind of your grander model of looking at the world at the moment? >> well, i think it's to try to stimulate growth through monetary stim use olympic. >> the u.s. can continue to grow and check out 3% gdp even if we continue to see a slowdown in economies like china which, of course, are supposed to be the engine of growth? >> yes, we do. let's remember, slowdown from china is around 7.5%. we still expect china to grow pretty well. we still expect those twin engines to continue to pump. so the uk economy can continue to growth. i think we've seen the latest mpc decision, discussion, papers. but the growth is still there. >> some say it is about identifying risks that aren't on the map yet and that's what we need to do. because we're not going to see the same issues that we've already dealt with, like the financial crisis if we take another leg down. for banking reasons, it's going to be a different type leg. are there risks that we're ignoring, do you think? >> you're looking at investor confidence, underlying growth, you're looking at geopolitical tensions to undermine growth. to some extent, the main thing is it's slightly more in the background than they have been in the past. >> alistair, thank you very much for coming to talk to us this morning. alistair wilson, head of the global sovereign risk group at moody's. and i just want to update you on flashes we're getting through. we were just listening in to sounds from opec and more sounds coming out of the preopec meeting. libya's rival oil minutester is planning to attend the opec meeting. his government will not comply with decisions if denied an invitation is what they're saying. the oil minister saying his government will not be -- the arrival of the minister saying cheap oil sales payment systems unchange. we will keep you up to date with the opec news. where is the money? that's the likely question that the european commission president will be asked after unveiling an eu investment fund. we'll cross live to a press conference, next. welcome, everybody. you're watching "worldwide exchange." i'm seema mody. >> and i'm louisa bojesen. these are your headlines from around the world. >> first up is opec. crude prices fall to a four-year low ahead of tomorrow's opec meeting. meanwhile, tehran could produce another 1 million barrels a day if sanctions are lifted. >> hewlett packard sees revenue fall across almost every business in its first earnings report announcing it's going to split into two. we'll be speaking exclusively to hp's meg whitman. missouri's governor called in 2,000 national troops as violence in missouri continues into the second night. holiday travel plans could be disrupted by a very big winter storm. >> hi, everybody. welcome back. yep, this is the second hour of "worldwide exchange" this morning. very glad you're with us. incidentally, we're taking your selfies today. if you're taking selfies of yourself, there's a story associated with this and we'll update you a little later. but our twitter pages are open, so send in your selfies. >> thanksgiving tomorrow. >> what's your twitter again? send us your e-mails or tweets. ec president juncker unveiled an investment plan to boost europe. the funds for strategic investments ames to create more than $300 billion euros of investments over the next three years. >> they are due to speak any minute and we'll be updating you on that. >> a ra raej of economic data out today in the u.s. ahead of that release, we are looking at the dow jones industrial up about had 2 points. the nasdaq up 12 points in today's premarket trade. the s&p 500 showing a bit of green up just about 6 points. it may be a short week in the u.s. due to thanksgiving, but that does not mean it's not a busy week. focus being on the oil markets. take a look at the ftse cnbc global 300. a look at how this global index is reacting ahead of that opec meeting result. we are looking at the index basically up about 2.5 points or 0.04%. trading below session highs. if we dive into the european markets, we got that uk gdp report and markets are responding positively. we're looking at the ftse 100 trade higher by around 21 points. xetra dax continues this move to the upside, about 66 points. we did get those comments from the ecb vice president who says they may be considering sovereign bond buying. of course, that is what the market is expecting. and ahead of that, the cac 40 up six points. the ftse mib up 43 points. we should point out the euro stoxx 50 is up about 14% since hitting the lows in october. so quite the rebound. louisa. >> definitely a rebound. guess what hasn't been rebounding? oil. we've seen this massive drop off in the price of oil. show you that in a second. but before that, you were just mentioning those comments and we just give a movement off the back of these latest thoughts that came through this morning. but we've been hanging on to this range bound trade. you can see we're still around 1.25. 1.2450/1.25. most analysts saying they don't think we're going to see any changes coming through from the ecb with regard to full blown quantitative easing during the month of december. quite frankly, many would argue why should they? we need to see the measures that have been put in place being properly filtered into the real economy first and also to the banks, give the banks a chance b to react to these long-term funding mechanisms that have been put in place already. when it comes to the dollar/yen, we're hanging on to 117, 118. the sauc aussie/dollar, talkingt how the aussie/dollar was looking overvalued and the pound against the greenback, 1.5695. we had the second revision of the gdp data coming through this morning. on uk growth, bang in line with expectations. so no surprises there. i was just talking about oil just a second ago. we've seen this massive drop in the price of oil since the summer, a 30% drop or so. nymex currently hanging on to $70 a barrel. brent, 78.50. we saw, what, a four-year low being hit in crude in yesterday's trade on the close of the session. so a lot of people focusing on the price of oil, especially opec, right? we've got this big opec meeting taking place tomorrow in vienna, as you know. >> and speaking of commodities, in the last hour, iran's oil minutester has called for unity over divisions on where the cartel is go cut oil production in the wake of tomorrow's sliding cruise prices. speaking to cnbc, he said he would meet with his saudi counterparts and discussion the situation later today. steve has been on the ground in vienna working his sources and talking to various lawyers. steve, help us understand what you've been hearing on the ground. >> well, what is clear, they want a face of unity, but they haven't had any of it just yet. something unprecedented almost happened. that was an agreement between nonopec and opec meeting members. the russians and mexicans were in town. they were all in town talking with the venezuelans and talking with the saudis. between them, those four countries control about 26 million barrels of oil a day. if they had an agreement on cutting production, that would have put a real flaw underneath this slide that we've been talking about. there was no agreement. as a result, the oil price 1%, 2% nearly. what we get on the preview day is the arrival for the big hotels. those comments you heard were the ones that our team has picked up literally within the last hour. but i think they were laced with contradictions, as well. the iranian oil minutester coming on the back of the talks with failed ministers this week to seal a deal getting back into the system on ending those sanctions and ending the nuclear impact between the p-5 plus one, as well. we have to external limits. listen in. . >> receive any technician kwan from outside the -- >> production external from -- >> we reach again. we have no limitation. >> so the point is there, despite those limitations. we've got nearly 2.7 million barrels. we can double our exports from 1 million to 2 million. there are some issues about increasing production. don't forget, this meeting is all about are we going to get some form of accurate in production? despite what we can do, the market is overflied. >> obviously, discussion and assessme assessment. that this situation will put pressure to some investors to go out of the market. these markets. >> let me reiterate that last bit. he said there are some members within opec who believe i.e. 30% declines could lead some investors to leave the market. that's interesting, isn't it? are they talking about the americans, are they talking about shell? which at this moment some members even talking about my money is on the -- we had a brief chat with the angolan. angola is being forced out of that u.s. market. the nigerians now sell nothing to the americans, having sold over a million barrels a day. let's listen in. he was asked whether you see a cut. >> more agreement. >> are you happy with the current price levels? >> so if anyone asks, is it just the oil prices? it's not. we have enormous budget and problems. thoor trying to send two oil ministers from rival nations. you've got concern for isis, as well, and then you've got russia in town with their own sanctions over the uk. back to you, seema. >> thank you, steve, so much. to cut or not to cut, that will be what investors are looking for. breaking news coming out of st. louis. two fbi agents were shot earlier this morning in north st. louis county. their conditions are unknown at this time. there is a live scene of ferguson, missouri. >> we're actually just hearing their conditions are nonlife threat.ing. >> well, we'll keep you you up to speed with the news coming out of ferguson, of course. >> ben oppenheimer joins us. welcome. >> how are you? >> i'm good, thank you. what do you make of the markets at the moment? >> an interesting combination of dynamics. we have this big split between the u.s. economy which is doing rel well and others which are doing less well. there is other central banks still very much in easy mode. so i think the combination is pretty supported. >> i think it's more than a couple of months. it's really for the last several years. the combination is supportive of equities. >> there were definitely many problems. the oil price falling is clearly one of them. in general, the patton of outperformance is still pretty much in train and rightly to continue. >> peter, you write in your notes you expect oil prices to rise. we're seeing growth stagnation fall in many countries of the eurozone. >> europe is sfag nation. they're not optimistic about profits, either. profit for the stoxx 600 grow about 6%. consensus is still around 12%. so we're more conservative there. he think the crucial thing is with the potential to reduce the tail risk of deflation, the risk premium can come down. >> so is the market further rebounding or is it the fundamentals? >> in eurozone economic data, we don't think we're going to get deflation, which is market has been pricing as an increased risk. the global back drop, to which europe is exposed, will improve a little bit and that will help. in addition to that, i think monetary support will help to bring down risk premium and push multiples higher. >> this is very exciting today. jean-claude juncker is hold ago press conference. he's already unveiled a 300 billion euro investment plan to boost growth in europe. juncker is vice president. there speaking now, as you can see. these initiatives to get growth started and things like that, are they going to work? >> i think we would be skeptical about the economic outlook in general. the policy will be inflation risk. >> i think those other factors will be key. >> i'm watching and i tend to agree with you the dax, for example, relative to some of the core european markets. >> the u.s. has static growth. everybody knows that. profits are at an all-time high in market, as well. you've seen huge net portfolio flows into the u.s. to take advantage of that. september alone, we saw a record $27 billion of outflows from european equities from u.s. investors as people got skeptical about turpan situation. i think what's critical is not so much the fundamentals, but what the market is pricing those fundamentals to be relative to what is likely to happen. and fundamentals are not good in europe. but that's very much priced in and we expect slightly higher returns, at least in local currency terms. >> it will be interesting to see, louisa, because of valuation in itself, we will see investors allocate money out of the u.s. and into europe. especially if investor sentiment improves with the backing. >> what was your favorite thing to be to buy at the moment? >> i think a combination of things. we like financials and i think a number of factors are coming into place. so fms certainly, i think. some selected areas in northern european utilities where you may have benefit, rising power, prices, the telecom sector where you're seeing some slight improvements in pricing in the mobile sector. it's a combination, really, of the service sector and humor and some defenses are not overvalued. >> do you take selfies? >> i take any opportunity, yes. >> twitter is looking to shop some of these apps that take selfies. >> yeah. >> we're being yelled at because we're out of town. thank you very much for being with us. we're taking your self-dwris still. millions of americans are going to use whatever means necessary to get to friends and family for thanksgiving. but old man winter may have something to say about that. we're live at one of the busiest airports on the busiest travel day of the year. that's coming up next. hi, everybody. welcome back. i'm louisa bojesen. this is "worldwide exchange." and i'm seema mody. it is the busiest travel day of the year as people in the u.s. try to get to their thanksgiving destinationes. a ae a estimates 46 million americans will be traveling this weekend, around 3.5 million of them by air. many could find themselves stuck at the airports as a winter storm bears down on the east coast. now, that has the potential to cause delays throughout the country. nbc's wendy wolfrock joins us from chicago's o'hare airport. it sounds like it could get pretty busy and pretty messy. >> it certainly can. good morning, louisa. how are you? things are pick up here. overnight, all the major airlines decided to cancel several hundred flights as a preemptive strike against that storms moving up our east coast. that is not good news since our thanksgiving travel numbers are up. as you can see behind me, the lines are already start to go build here at o'hare international and it is a very early o'hare. and we are already seeing lines packed. we've been here since about 3:00 central time. as you mentioned, the healthier economy in the u.s. and lower prices have given a boost to holiday travel. 46 million people will travel here by air and by road. we can see at this point though the line res long, all of the flights are on time. hopefully that winter weather will hold off at least so these morning travelers can get where they're going. unfortunately, it looks like the weather is going to have a ripple effect across the country. so as we always say in most of these holiday travel live shot, you have to pack your patience. live in chicago, i'm we know by woolfolk. wendy, thank you very much. happy thanksgiving, as well. stay ahead of time. >> thank you. now, still to come here on the show, has twitter got bieber fever? find out why the social networking site could be upping its selfie game. act i. scene 3. open port twenty-two-oh-one-seven on the firewall for customer db access. install version two-point-three of db connector and ensure verbose flag is set in case of problems. (clapping sound) isn't the cloud supposed to make business easier? get the one that can connect to the systems that you already have. today there's a new way to work. and it's made with ibm. welcome back. let's take a look at today's top stories. the u.s. justice department is reportedly probing allegations on hsbc employees leaking confidential client information to a major hedge fund. "the wall street journal" says the incident likely occurred in 2010 when hsbc was advising uk insurer prudential on the acquisition of aig's asian life insurance business. a senior trader reportedly alerted a trader that the new york hedge fund lewis bacon. shares of hsbc basically flat on the day. >> now, flaws in wells fargo's living wills, but the bank plans has drawn less criticism than those of other banks. large financial firms, they must submit living wills to detail how they went into bankruptcy without triggering the need for a costly bailout. the fed and the fdic says wells fargo's 2014 plan was an improvement from last year, but ill still has improvement to go. wells fargo, slightly higher in german trade. now, cnbcs has learned which companies anthony noto may have been referring to this week. he has held talk wes shots, a selfie app backed by justin bieber. twitter mash attracted to shots because of its millions of users, two-thirds of which are under the age of 24. >> i'm under 24. >> oh, of course, sorry. >> it's the sounding, isn't it? like the whole life of selfies. >> the selfie craze, exactly. >> what's your selfie game? send us your early morning selfies. >> david tweets in, my golden retriever and i frequently watch "worldwide exchange" together. that's very, very cute. >> i like that, watching "worldwide exchange" in bed. >> a lot of people, they've been tweeting pictures of their pets. lovely. ricky sweets, happy thanksgiving. the wales polo tomorrow, oh, i love go wales polo. >> and here you can't beat a selfie with an animal. thank you so much, peter. where is the animal? >> here we go. >> that's a camel in the background. >> a half face selfie, we which welcome, as well. >> and from one from our "squawk box" team this morning. let's take a look. oh, wilfred and carolin. how sweet is that? >> that's fantastic. it's not too late to get your selfie in. our handles on the bottom of the screen. let's take a look, back to markets. u.s. futures in focus. they are moving higher ahead of the wall street open. a lot of focus on the housing data expected in a couple of hours. reaction to hp earnings. tech was one of the best performing sectors at yesterday's trade. we'll leave you with a look at futures. keeping you up to date, we'll speak to a couple other market experts on what to expect this trading day. i'm seema mody. you're watching "worldwide exchange." hello, everybody. i'm louisa bojesen. these are your headlines from around the world. >> opec dominating, crude prices falling to a four-year low ahead of tomorrow's key opec meeting. meanwhile, iran's oil minutester tells cnbc tehran could produce another $1 million barrels a day if sanctions are listed. >> revenues falling across every business, earnings report announcing it's going to split into two. coming up on cnbc, we'll hear exclusively from the ceo meg whitman. >> missouri's governor called in 2,000 national troops as violent protests in ferguson entered their second night. and millions of americans will be hitting the roads and taking to the skies today ahead of thanksgiving. their holiday travel plans, though, could be disrupted by a pretty big winter storm. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> welcome, everyone. good morning to all of you who are watching. let's take a look at u.s. futures and how stocks are faring ahead of the wall street open. the dow, about flat on the day. the s&p 500 trading up just a couple points in pretty market trade. the nasdaq, though, has been in focus, up just a couple points in premarket trade. but remember, yesterday we did see apple break a record. it's traded at a record high. in that case, it went over the $700 billion market cap level for the fist time. so we will be discussing that later throughout the show. diving into the european markets, we got more dovish commentary out of the ecb. the vice president referring to sovereign bond buying. that's what the market is expecting. one of the reasons we've been seeing european stocks rebound, right now, the xetra dax up about 62 points. we did get that gdp read yesterday. 0.1% for germany. it was able to avoid entering recession thanks to a pick up in exports. taking a look at the ftse 100, reporting uk gdp of 3%, the ftse 100 up about 17 points. and we are seeing gains in france and italy at this hour, as well. now, a look at the euro stoxx 50, if you had been looking at the euro trade lower against the u.s. dollar on the back of those comments from the ecb right now, the euro stoxx 50 up just about 8 points. 0.3%. it will be interesting to see if we continue to see the trade lower against the u.s. dollar. investors become more bullish on european stocks, companies that generate more of their revenue right here in europe. louisa. >> seema, thank you. listen, we were talking about this earlier. hewlett packard's fourth quarter revenue fell across almost every single segment. sales fell by 2.35% overall missing forecasts for the weekend's surprise demand. prots drom dropping by almost %. still was it was in line with estimates. on a conference call, ceo meg whitman says the turn arounds aren't linear and that the company is right where they thought they would be at this point. hewlett packard falling about 3% in frankfurt. as we were talking about last hour, it's a big turn around story. they seem to be doing very well when it comes to their notebook unit. >> it's the first earnings report since the company split their printer and pc division. in fact, if you look at their earningses result, revenue des miss specations, but their pc division was able to see a 4% rise in year over year revenue. is the pc back? that's been one of the trends we've been seeing over the past months. the stabilization in the pc market. >> they've got a lot of cash going for them. that might be the one thing. >> another stock in focus, louisa, apple's market caps passed the $700 billion market cap yet. it means the tech giant now has a 300 billion dollar lead of exxon. this year, appear ul up about 48% in comparison to the s&p tech index up about 17%. >> look, i hope steve johnson is watching. this is crazy. crazy nuts. on top of that, 92% of companies in the s&p 500 stwb they have a total market value of under $100 billion. and we're talking now of a $700 billion market cap for apple. that puts it in perspective, right? >> yeah. it's been growing its dividend over the past one year. so that's been attracting all of those who are hungry for yield at this point. >> do we go higher? >> i think we'll have to. the stock is up about 15% in the last month. pretty phenomenal stuff. staying in tech, staying with apple, it's been looking to dump google in its safari web browser. their construction expires next year. yahoo! apple, pretty unmoved in german trade, i would say. maybe it's because they're waiting for the holidays. >> maybe. let's switch focus to travel. it is the busiest travel day of the year in the u.s. as people try to get to their thanksgiving deaf nation. more than 26 million merps will travel by air. many could find themselves stuck at the airport as the winter storm bears down on the east coast. kate rogers is live and in the heart of the action at new york's laguardia airport. kate, what do you think? >> we're starting to see the crowds really continue to grow here. a lot of people behind me trying to check in and get to their flights, hoping that they're not delayed before winter storm takes full effect. now, the storm is expected to hover over at this-95 corridor today as well as 3 inches of snow can be affected. that's going to lead to lots of delays. 3.5 million people are flying. yesterday, in and out of the u.s., we saw 85 flights canceled and more than 1800 delays. this morning, those numbers continue to grow. at our last check, flight aware had about 225 cancellations in and out of the u.s. and more than 175 delays. here we are at laguardia, more than 65 delays and cancellations already this morning. people rushing to get in. our crew was stuck in bumper to bumper traffic. he said a lot of people flew out of d.c. trying to beat the storm. everyone is getting out there. all the major usair lines have canceled flights. phil lebeau has more on what this will cost them. >> i was a little sat about missing out on thanksgiving in the u.s. it's a big deal for us, especially in my family. >> i did find some ex pats that are hosting a dinner here. >> excellent, good. listen, coming up here on "worldwide exchange," the focus is still on ferguson. we're live on the ground as protests continue after the grand jury decision on officer darren wilson. stay with us. hi, everybody. welcome back. headlines today, crude prices hit ago four-year low as iran's oil minister says there is ov oversupply in the market. hewlett packard has revenues slipping across the board. and planes, trains and automobiles, a major winter storm could leave many americans stranded for thanksgiving. u.s. futures, how they're trading ahead of wall street. yesterday, tech was the best performing sector with appearing breaking the $700 million cap threshold. energy shares continue to lag as oil prices slid after venezuela met with russia, mexico and the saudis and said no agreement on any output cut was truck. so, of course, a lot of headlines coming out ahead of that opec announcement. tomorrow, we're looking at the dow jones industrial up about 36 points in pretty market trade. nasdaq up about just 11 points in premarket. s&p 500 seeing a gain of 5 points. louisa, the focus is really on oil this week, given that it's a holiday week. equities you might not see. value, that's strong. >> we're lower in the of 30%. the european markets, we were called slight hi higher this morning. hanging on to gains across the board which makes it the fourth day running, i think. we're a little higher in europe. so we're higher somewhere in the region of 0.5% give or take a bit, depending on the market you're looking at. we've had a whole bunch of commentary out from various central bank leaders here in europe talking about how there could be an opening for more quantitative easing, at least that's the interpretation of it. mario draghi promising to lift inflation. the ecb board member talking about how the ecb has to be ready to consider additional measures and the vice president of the ecb indicating that we could be looking at bond buying if need be. in the last half an hour, we have learned two fbi agent have been shot in north st. louis county. the police department in the area released a statement saying they suffered nonlife threatening injuries. this after a night of protests in missouri turned to violence. >> we're also hearing that the latest reports stating that it's not clear whether or not this is directly related to ferguson, the shooting of these police officers. >> absolutely. and we actually sa a reporter there, nbc's jay gray on the ground in ferguson with the latest. >> hey there. yeah, again, i think it's important to point out we're not clear at this point whether those fbi agents were working as a part of what's happening here in ferguson or not. it's still too early to tell. overnight, thousands of national guard troops moved in, triple the amount that were initially deployed here. that along with a more aggressive stance like police seems to be making a difference here. in many ways, while it's perhaps alarming to some folks, i think at the same time it's probably comforting to some because it allows us to gain that measure of control. so the guard has been very helpful. >> now, another thing that we are hearing from officers is that the community seemed to take a step in the right direction overnight. they say that they got a lot of help from peaceful protesters in the crowd who were identifying those causing problems, helping officers, pointing them out and helping them. 44 arrests in all made last night. again, no serious injuries and not near the capacity for violence and looting that we saw the night before. seema. >> jay, thank you so much for that live report in ferguson. we'll be getting you more reports throughout the day. now, ahead of the holidays, investors eyeing a deluge of housing data coming up. one expert tells us which housing stocks you should be stocking up on. that's coming up next. a busy week for global markets and the focus really on oil given the opec meeting announcement coming out tomorrow. take a look at where crude is trading right now at $74 a barrel. yesterday, crude oil continues to decline. it was down about 2%, settling at $74.09. the lowest settlement if over four years. so a continued downward pressure on the price of crude. although right now we're seeing it up just a smidgenon, up by 0.13%. iran's oil minutester has called on unity from opec amid divisions over where the cartels should cut oil production at tomorrow's meeting in the wake of sliding crude prices. speaking to cnbc, dejon said he would meet with his saudi counterpart to discussion the situation later today. many opec countries are highly dependent on oil revenues to fund their government budget. so the question is why would opec not look for way toes boost prices? >> because they play a long game is the answer, seema. actually, the likes of the saudis, they've been playing this game a very long time. they've seen prices at the turn of this century down to 13 bucks and they've seen them up to 149 bucks just before the financial crisis. so they've seen the volatility. they've enjoyed the last three years. let's take a scenario, what if they didn't announce any cuts tomorrow, what will that do? would that send the oil price down again? and who would that hurt? it would hurt a lot of the people who have been taking market share of opec. people who have been looking at self-sustaining oil and independence such as the u.s. and the u.s. shale producers, as well. and we know a lot of them are beginning to feel the squeeze. you mentioned $74 a barrel. that's the kind of levels people are beginning to get worried about. even if current production makes sense at those levels. are u.s. investors going to put more money on the table with concerns about falling priet. the saudi committees produce as cheap as anyone out there in the market. are they playing a longer game? the old adage, lower prices are the cure for lower prices. back to you. >> steve, thank you so much. let's get you a rundown of what to watch this trading day. weekly jobless claims and october durable goods tracks demands for big ticket items like planes, trains and automobiles are out at 8:30 eastern. along with personal income and spending, one of the fed's favorite gauges of inflation, of course. just before 10:00 a.m., we get november consumer sent many followed by chicago pmi manufacturing data and the latest look at new home sales and spending home sales. we, of course, are getting a deluge of housing data today. we recently saw a six-year high in new home sales. does that mean companies that build houses, that's a good buy? >> yeah, thank you for having me. we think that the housing recovery is building slowly here. and it should continue as we entered into next year. last year what happened in 2013 was with the combination of very low rates and extremely good affordability, you got a bit of a mini bubble, especially in the move up segment of the market.. we think that we've worked through that and so the underlying economic fundamentals job growth and continued low rates should propel housing. and, of course, one factor that could derail the u.s. housing recovery issue is the prospect of rising rates. will you change your investment thesis on housing stocks if, in fact, we do see the federation rates? >> that is the most important question. here is how we're thinking about it. if we get another very large move like we had in 2013 where it was almost 125 basis points over a two-month period of time, that will disrupt housing, in our opinion. however, if you take the view that it's going to happen gradually, so for example we're model background 50 basis points a year, we still have enough of a good affordability situation that the market should be able to handle that. >> hi, it's louisa. which area of the home market would you want to be exposed to? when looking at the u.s., geef graphical areas in the u.s. that look more attractive now versus others? >> well, the entry level segment of the market is what has lagged for most. and for a full housing recovery to happen, that entry level buyer, the millennial buyer is the one that has to come back to the market. all the builders serve both the entry level and build market. if you look geographical, most of them are pretty diverse. but where you have the strongest job growth is where the housing market is going to be strongest. for example, texas has been the hottest market in the country for the last several years because of the tremendous job growth that they've had there. >> what would your top pick be, then? >> or top pick right now is tripoint homes. that has less to the with the market and the geography they're serving and the particular situation there. they bought a large home building unit from weyerhaeuser and in the hands of a dedicated home builder, we think there's a lot they can do to drive up the value and earnings growth. >> thank you very much for being with us. we appreciate it. according to sources, krndz has learned twitter has held talks with shots, a selfie photo app that backed by pop star justin bieber. it has more than 3 million users, two-thirds of them are women turned age of 24. >> we've been asking you today to send us your early morning selfies. jeff tweets in, a regular viewer, he says i quite you've been help my cat, megan, with herr selfie. >> a lot of animal selfies. that's a trend. matt sending in his tweet, a dog selfie while he's driving. >> this is precious. i love the dog slobber in the wind thing. >> darren tweets in from north las vegas. he says happy thanksgiving, ladies. happy thanksgiving to you, derrick. opec is looking at tentative gains on thursday. >> football. a staple for americans. >> finally, here is ours with peter oppenheimer. >> he's such a kid. listen, keep your selfies coming through. you can find us. but before we leave you, let's take a look at futures. >> dow jones would open around 30 points. nasdaq up about 4. nasdaq up 10 points. european stocks continue to rebound. that dovish commentary from the ecb. >> and capitol hill lit up with christmas lights. look! how fantastic is that? we'll see you tomorrow, same time, same place. i'll see you for closing bell this afternoon. good morning. thanksgiving travel, snow. the major winter storm set to hit the east coast causing difficulty for planes, trains and automobiles on the busiest travel day of the year. opec ministers gathering in vienna for the most important opec meeting in decades. >> things calmer in ferguson overnight yb but demonstrators turning out in other major cities including new york where marchers took over two highways and shut down the entrance to lincoln tunnel at rush hour. it's wednesday, november 26th, 2014. "squawk box" begins now. >> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with andrew ross sorkin and michelle caruso-cabrera. joe is entering an early start to thanksgiving. if you are traveling today like so many americans this holiday, there could be trouble on the way. we're going to check in with keith carson at the weather channel right now. keith, what should people expect if they're planning to get on the roads anytime during the day? >> you know, the best advice is to either get out there before this storm. here is the rain we're looking at right now. none of this is snow except back here into part of west virginia. if you go out in and out, you'll be dealing with rain in the major cities. but that changes. we turn over to snow later on this afternoon. after that, it will be a real problem. down the 9 the 5 corridor, not much has changed in the forecast. the hardest hit areas still inland here in through