On cnbc. Im sara eisen. Do i not get a welcome back . Welcome back from washington, a whole 24 hours. I know. How was it . It was good fun, thank you. Well discuss that story coming up. Wells fargo, and another hearing to come today. Busy time down in washington and the fed meeting. Lets get to equity features at this hour. Yesterday we did have a positive close for all three indices, but fractional. Just higher about 0. 1 . We lost steam during the day. Its been treading water this week ahead of the crucial fed meeting, the bank of japan meeting well get to in a moment. Here are the u. S. Futures, higher by 70 points for the dow. A half percent positive open for u. S. Markets. After we lost the gains again yesterday, the dow closing up ten points. Some trepidation ahead of the big Federal Reserve meeting, but there is buying this morning. The top market story of the morning is the bank of japan rebooting its monetary policy. The boj did not cut rates further into negative territory or expand asset purchases as many economists expected. Instead it abandoned its base money target and introduced a tenyear Interest Rate target. The goal is to stoke inflation fast. The boj will buy longTerm Government bonds to try to keep that tenyear rate targeted around 0 . Following the announcement, the tenyear yield did rise above zero percent for the First Time Since march. The japanese yen did weaken. A lot of people say that was on positioning, because there was so much skepticism around what the people would do and if it would work. The nikkei closed up almost 2 . Thats the japanese stock market. We are in even unffurther unchartered territories. Theyre showing they have ammunition left. But is the credibility there to back it up . Absolutely right. We have to applaud mr. Kuroda today. In the lgongterm, as we say in the uk, proof is in the pudding. We say that here as well. Pudding is different here. We have pudding. But they mean different things. As for that, as to whether it delivers performance in the economy, paul donovan for ubs writing that it does seem difficult to expect the japanese consumer to suddenly declare hurrah, the maturity level on the bank of japan Bond Holdings has been lifted, i will go out and buy that car i wanted. This is finessing things around the edges. Will it lead to more than one days gain . In the nikkei, maybe a weeks gain, will it lead to big gains for the consumer performance for inflation and for the economy . Will they be able to keep their zero percent target on the tenyear . That will require an already active bank of japan coming in, intervening, buying any bonds that go above that level for any yields. Well see if it works. Thats where the credibility question comes down to. Its just fascinating that eight years since the financial crisis, central bankers are all in and going in further. Doubling down. Doubling down, tripling down, quadrupling down to get inflation up. Lets look at what the rest of asia is doing. The nikkei, the best performer. That pulled up the rest of the region which is up. Hong kong, 0. 6 . European equities enjoyed a bounce on this riskon sentiment that has come from the east. 1 gains for germany and france. European banks doing very well. Some hope this slight change in negative Interest Rate commitment might exist in the European Central bankers minds as well. Lets also have a look at broader markets. Oil prices, which have stopped the rot recently. We gained about a third of 1 yesterday. Were up more meaningfully today, close to 45. You saw that api number report. The Inventory Data surprise draw in apis. Well get the Big Government report from the eia today on the u. S. Inventories number. 1 move there. As for the u. S. Dollar, this is the key on this double close of central banking day that middle one. Dollar yen, right now slight buying of dollar and selling of jen. The Japanese Central bank would probably like to see that move a bit higher with all this ammunition they just brought out. Well see if we get a move higher in u. S. Treasury yields, the dollar will follow that. The euro at 1. 12, and the pound at 1. 30 again. The august easing worked, so theyre starting to see the effects of that. It was warranted and more easing could be on the cards. Tenyear treasury yield hovers around 168 right now. Still below 170. Gold quickly, lets just look on the back of the stronger u. S. Dollar. 13. 23 an ounce. Everything could change. Fed decision, 2 00 p. M. Bank of japan surprising markets this morning with their decision to keep shortterm rates unchanged. But all sorts of changes further out on the curve. Lets get a view from asia. Akiko fujita joins us from tokyo with all the details. We saw the markets rally on the initial reports of this decision. The introduction of that yield curve control. But a closer look at this decision as well, the comprehensive assessment shows this is a tweaking of an existing policy. The boj looking to find a little more flexibility, looking to buy more time to reach that 2 inflation target. Investors were looking for a deeper cut into negative territory with the rates. The boj in some way admitting defeat in this decision saying they simply werent able to reach that target in the existing policies they had. Governor kuroda said that wasnt the case. He said the new shift towards the yield curve control was a way to bolster the foundation that had been laid down by existing policies. Take a listen. Translator the new framework will be more flexible to prices and financial conditions compared to the original methods of controlling the growth of Monetary Base and outstanding government bonds. That curve control means the boj is abandoning its Monetary Base looking to buy up longer Term Government bonds to keep the tenyear yields low. Also the boj committing to overshoot inflation, trying to expand Monetary Base until core cpi reaches that 2 target and stays above that for a stable manner. This is the boj trying to increase that deflationary sentiment which governor kuroda said was much stronger than anticipated. We did see the yen dollar weaken at 102, but i dont think the markets are convinced it will stay that way with so many external factors weighing on it. As we go back to the textbooks and figure out what yield control means from a monetary policy, will it work . What are the economists over there saying . I think thats a big question. The poj boj is saying they want control the curve, but can they control it on the longer end . Can it go above the rate theyre looking for . This is New Territory for the boj. A lot of economists are septemb skeptical that 2 will be reached at all. Akiko, thank you very much. In the u. S. , the fed Takes Center Stage today. Policy decision due at 2 00 p. M. Eastern time followed by a press conference, News Conference from janet yellen a half hour later. You can catch all of it playing out right here on cnbc. Also on the agenda today, a few notable earnings reports. Well hear from carmax and General Mills before the opening bell, and Bed Bath Beyond after the clothe. Close. Fedex shares rising yesterday. Landon downedy hdowdy has the d. Fedex posting First Quarter earnings of 2. 90 a share. Thats nearly 10 cents higher than analysts forecast on revenue of 14. 66 billion. The shipping giant considered an indicator of economic decisions citing Strong Revenue in its express, ground and freight business. Fedex offering an upbeat assessment for the holidays saying they will benefit from ecommerce transactions and ceo fred smith addressed the one blip on the call. The integration of tnt express, which includes more than 200 countries, is proceeding smoothly and on schedule. The level of team members engagement is outstanding and very much appreciated. Shares of fedex gaining about 3 in trading. Back over to you. Great stuff. Still to come on worldwide exchange, drug price outrage. Mylans ceo heads to capitol hill today ready to face a grilling over the epipen. Well tell you what shes expected to say later. And then later this morning, dont miss a first on cnbc interview with europes antitrust cop. The commissioner for competition, who just filed that 14. 5 billion back tax case against apple. Ill talk to Margrethe Vestager about it. Im vern, the orange money retirement rabbit from voya. Vern from voya . Yep, vern from voya. Why are you orange . Thats a little weird. Really . Thats the weird part in this scenario . Look, orange money represents the money you put away for retirement. Save a little here and there, and over time, your money could multiply. See . Ah, ok. So, why are you orange . Funny. See how voya can help you get organized at voya. Com. Every great startup begins with a simple idea. But with growth comes complexity. Thats why so many innovators are on the ibm cloud. Like refinery 29, with nearly a billion views a year. Or runkeeper, a training app used by over 50 million runners. Or Game Developers whose popularity depends on launching new updates fast. Helping to keep a companys success uncomplicated thats what the ibm cloud is built for. Welcome back to worldwide exchange. Good morning to you. Futures are expected to open higher on fed day. Most of this week weve been treading water. Yesterday was the same, fractionally higher. Today a bit of impetus ahead of the open. About a third of 1 , and the nasdaq is up more, up about a half percent. Really in focus today will be currencies. Both because of the bank of japan action overnight. No change to the shortterm Interest Rate, but a change of strategy, trying to steepen the yield curve a bit. We did see a bigger move in the dollar yen pair earlier. It is extently flat now despite no clear yen weakness. The nikkei did soar 2 applauding the action by governor kuroda. Still keep an eye on that pairing throughout the day as we get to the fed meeting. The pound is around a onemonth low, below 1. 30. To todays trade of the day. The consensus among investors and traders seems to be that the fed, janet yellen, will not be raising Interest Rates today, but will be sounding more hawkish during her tone at the News Conference at 2 30 p. M. Eastern time, hinting that a rate hike could come next. How should investors trade the meeting . Our data team crunched the numbers. They found on the day of a hike announcement information technology, healthcare and Consumer Discretionary names did perform well. Among the worst performers, utiltiutiye utilities and telecom. We will be watching those rate sensitive areas that have propelled the markets so far. Still the best performing sek sectors, utilities and telecoms. A big hearing in washington yesterday. For the second day in a row, another ceo will be facing lawmakers. Mylans ceo under fire for the cost of the lifesaving epipens. Shell testify before a house panel this afternoon. Our meg terrell is covering the hearing. Good morning. I guess were switching places today. Heather bresh, the ceo of mylan expected to testify at 2 00 p. M. In front of the oversight xhi committee. The epipen has risen to over 600 from 100. She tries to make clear in her testimony that while the price of a twopack is 60 8 , thats not how much mylan is gaining. She said looking back, i wish we had better anticipated the magnitude and acceleration of the rising Financial Issues of a growi growi growing minority of who may have ended up paying the full wac price or more. We never intended this. A lot of charges that they may have misclassified the epipen to get lower rebates. A lot of questions swirling today. People looking forward to not hearing just from bresch but from the fda as well. To that point its largely about her and after stu stump yesterday, i wonder if they will go after her personally and her paycheck, which was also almost 100 million while the epipen price has been raised on consumers and whether she has a response to that. Theres been focus on Heather Breschs compensation and the compensation of other executives at mylan, some saying the compensation incentives are outlined and incentivized rising the price of drugs. Wells fargo saying there will probably be questions about who made the decision to raise the price here, trying to get to the bottom of who is behind this, and will that put the executives potentially in trouble. People have said there is there are so many protections around this Management Team after they inverted to the netherlands t will be hard for them to have pressure to step down. No Elizabeth Warren on this committee, is that right . I dont believe so. Always amazing to hear from her. Thats one advantage that Heather Bresch has today. Meg, thank you very much for that. Thank you. Coming up, the latest from the campaign trail. Hillary clinton heading to florida. Donald trump will campaign in ohio today. Two key swing states. As we head to break, lets find out what the weather is like in those states and closer to home. All right. It is the middle of the week, we have some big rainmaking thunderstorms. Could be Severe Weather as well here across the middle of the country. Minnesota, iowa, wisconsin, storm also start and finish the day. Flash flooding along with strong, damaging winds and hail. An isolated tornado risk a concern here today. Its still raining in the midatlantic. Fronts, old remnants of what was julia still hanging around, virginia beach, norfolk are some of the places dealing with that. The heat is on as well in the middle of the country. Even the northeast, temperatures in new york city heading to 85. 85 in l. A. A lot of aboveaverage temperatures. Could be a couple of record highs high s in texas and maybe in the northeast. Worldwide exchange continues after this. 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. [chains dragging] [eerie music playing] [crickets chirping] [owl hoots] announcer if you dont fix them, sparks from dragging tow chains can cause a wildfire. And that could be scary. Bye, smokey only you can prevent wildfires. Welcome back. Lets get you up to speed on the market action. Looking at a rally in u. S. Equity futures. Dow futures up 60. Off the session highs. S p 500 futures up 5. 6. Nasdaq futures up 20. This is in between two Major Central Bank decisions after the bank of japan surprised the market not easing further in a traditional way by buying assets or lowering Interest Rates further into negative but setting a new yield curve target and committing to getting enflags above 2 . Thats the dollar yen rate. The yen weakening a bit. Somewhat of a successful policy reaction. The nikkei in japan surged 2 . We will see if the yen holds that. Longterm. Longterm there are questions, whether it will boost this economy. I want to show you whats happening with oil, which has been key for the markets lately. Rising this morning. 2 bounce here for wpi. Back towards 45 a bar well. Brent 46. 70. Surprise draw in crude supplies. Well get that number later in the day. Demonstrators protesting the Police Shooting of an unarmed black man in charlotte, North Carolina shut down a small section of interstate highway early this morning. Authorities say protesters destroyed some police cars and several officers had been injured. Officers went to an apartment complex yesterday looking for a suspect with an outstanding warrant and found a man, not the suspect, with a gun. He was deemed a threat and was shot. The officer has been placed on administrative leave. The unrest follows another Police Shooting in tulsa, oklahoma. Now to the race for the white house. Hillary clinton heading to florida today to lay out her blueprint for an inclusive economy. Donald trump will be in ohio with running mate mike pence. Tracie potts joins us with more. How much do they all pivot towards terrorism after what we have this weekend . Certainly we heard talk about that. Donald trump talked about that last night. Today he will be asked about whether he mixed personal and charitable funds. Hillary clinton today talks about the economy and putting the most vulnerable americans to work. Reporter Hillary Clintons economy speech in florida will focus on jobs for peoples with disabilities. Donald trump calls her an insider. She represents the donors, policy hollers, big banks, everybody getting rich off a rigged system. Reporter new fec filings show clinton and trump had their best fundraising months yet in august. Clinton raised nearly 60 million. She outspent trump 61 on tv ads. Trump brought in 40 million, but its his foundations money in question now. The Washington Post first reported the charity making donations so trump could avoid paying legal fines. Trumps campaign claims the story is peppered with inaccuracies and omissions from a biased reporter. Its clearly unethical to use Charity Dollars to pay for expenses that were not to be paying