. in and exclusive interview with cnbc, he says the u.s. will have momentum against the islamic state. >> we are going to shrink the territory that they control. and ultimately we are going to defeat them. >>> electrolux takes on the shares market as shares jump to $3 billion. they in a bid to double their sales in north america. >>> and the lloyds is up after it is said that london could vote yes for the first time in shocking news against the dollar. >>> and the 1,000-day program is on track striking a defying tone in the call for his government to speed up reform. >> we don't need anybody to tell us what we need to do because we know that very well. on the fis kical side and on th reform side. >>> good morning, everyone. let's have a look at the european markets on this monday morning. the ftse 100 no surprise is under pressure after that survey came out over the weekend. the ftse 100 down by almost half of 1%. the xetra dax is holds its head above water up by 0.1%. the cac 40 is lower by a third of 1%. overall, maybe still some profit taking after last week's pretty impressive gap

cnbc. i'm bob simon. in this edition, we look at three groundbreaking approaches to education. first, we visit the seed public charter school, the nation's first urban public boarding school. later, we meet some unlikely students who are getting a liberal arts college degree behind bars. and finally, we go to the harlem children's zone under the leadership of geoffrey canada. we begin with seed, one of the most successful and innovative charter schools in the country. it was started in 1998 in southeast washington, d.c., where some of the nation's most troubled schools are located and where most students don't finish high school. but as byron pitts first reported in 2010, seed students are different. most graduate and go on to college. admission to seed is by lottery, open to any family in the district willing to take a chance. >> girl 41. >> yeah! >> this family was one of the few who won the lottery, a $35,000-per-year education paid for by private and government money. >> boy 12. >> yay! >> only 1/3 of the over 200 or so kids who applied heard their number called. with the child's

adding peaks for airline travel. hampton pearson has cnbc's business news. good morning. >> hi, tracy. we're going to start first with u.p.s. they, in fact, we're being told, are planning to open 14 temporary shipping facilities for the upcoming holiday season. now, reports say the modular structures are similar to portable school buildings. now, last year, you may recall, u.p.s. was hit by a double whammy of a late rush of online shopping and bad winter weather, which delayed the delivery of some packages until well after christmas. >>> get set to pay more to fly the friendly skies. ultra low-cost carrier spirit airlines will raise bag fees by $2 during the holiday travel season. those higher fees apply to tickets booked after august 19th for flights between december 18th and january 5th. >>> and today, cnbc is unveiling a sweeping report on how americans perceive big business and the economy. the survey covers a range of topics from taxes and ceo pay to a company's social responsibility. and you can check out the result of cnbc's corporate perception indicator or cpi right now on cn

morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernan and andrew ross sorkin. most of the major indexes closely sharply lower. in china shares that tomorrow's manufacturing data could show more evidence of a slowdown there. you can see the market for the hang seng down by 1.4%. the shanghai was down by 1.6%. meantime in japan, the profit taking looks to be the name of the game following a seven-year high on friday. that stock market is down by .70%. a lot of red in the early european trading as well. the biggest loser seems to be retailer tesco to announce it overstated profits by over $400 million. >>> the g20 finance ministers are wrapping up meetings in australia saying they are close to adding an extra $2 trillion to the economy, but the group is warning that europe's slowdown remains a major stumbling block. and it is playing out if we take at what is happening with the u.s. equity futures. right now the dow futures are down by 28 points below fair value. the s&p futures are up by 7 points. although, andrew, this is an improvement from

ignition switches. hampton pearson is here with both stories in this morning's cnbc business news. hampton, good morning. >> hi, tracy. yeah, we're going to start with that pay raise story. u.s. companies are planning to give pay raises, averaging about 3% next year. now, that's according to a new study by the pay consultants towers watson. that's on par with a 2.9% average raise the past two years, but it's barely above the rate of inflation at 2.1%. towers watson says the top reason employees join or leave the company is base pay. the median annual salary for the nation's 106 million workers is now about $40,560. more than 2 million vehicles recalled this year. in an exclusive interview with cnbc, barra said replacement parts should be available for customers by next month. she's also talking about changing the corporate culture inside gm. the automaker was criticized for waiting too long to recall cars well after it discovered the problem. an early look at a couple business headlines. back to you. have a great day! >> thanks. hampton pearson with cnbc. see you tomorrow. >>> currently ou

direct pr line into cnbc. that's been my experience. i've worked there a long time. they can use cnbc as a sort of mouthpiece for them. i'm not saying there's anything wrong with that. there's actually nothing wrong with that if you give the other side of the story. but what is good about the way that we cover it, there's no mouthpiece. we know it from the financial advisors are telling us those morgan financial advisors were tuning out yesterday, and i tell you they were probably tuning out cnbc too. >> liz: there were many redemptions going seven, eight, nine months back while bill gross was there. >> you know someone at morgan stanley telling me. they told me we're all looking for a reason to take all our money out of pimco especially that return fund and now bill gross gave us the push. so that's where we are. take it to the bank. don't listen to the spin on the other side. we report. you decide. >> liz: thank you. charlie, closing bell we're 29 minutes away. okay. you've got to see. they're unlike any other drones. they're made by a company making find out risk technology. w

cnbc. >> teasing the show four minutes in. >>> let's turn to today's other huge story. bill gross, familiar face to viewers of the program, out at pimco. today morning star is putting every single pimco fund including flagship total return fund under review. is this a warning sign or is this standard operating procedure when the manager flees. >> we don't view this as cause for immediate panic. despite headlines pimco has never been a one-man operation. bill gross has had a huge impact on pimco as a firm. he has a huge impact on the firm's investment process over the years but it has become a team effort. so yes he is leaving. that is clearly a big deal. we are reassessing what impact that may have for the investment strategy and how it gets executed day to day. but there is a deep bench of capable talent behind him. >> you don't expect any sort of directional change? because the bond market didn't react on the news on the thinking that pimco is so big it basically is the bond market. with gross leaving the direction of the fund actually might change and there might be a direction

ken feinberg, coming up first on cnbc a live interview coming up in a half hour, carl. but again, of 445 claims submitted since august 1st, just 31 of those have been deemed eligible for some type of a payment. guys, back to you. >> important few chapter for the company and for feignberg, thanks a lot. joining us, mike is back, senior columns nist at yahoo! finance and kayla tausche and john fortt. a lot to talk about today and all week long. a record day for apple. preorders for the iphone 6 and the 6 plus have been coming in in. i think we got numbers of 4 million in the first 24 hours. the highest number of preorders on day one for apple in their history. the iphone 6 hits stores on friday. because of the amount of preorders many will not be available until as late as october. jon, some analysts have tried to compare this to past launches. this is bigger than all of them. >> by far. last time they did this structure where they did preorders and retail sales of the iphone 5 they did 2 million in the first 24 hours. this is twice as big as that. this probably means we have supply co

as a lock up restriction doesn't apply to certain pre-ipo shares. cnbc's eunice yoon has visited one village in china, transformed by its access to alibaba. she filed this report from beishon. >> for sure, this chinese village was called clay bread village due to its long time baking tradition. but everything changed when e-commerce giant alibaba was introduced here. now this man is an entrepreneur, generating $8 million in annual sales of camping gear. >> translator: our goal is become a number one outdoor equipment brand in the world. >> big aspirations from what's known in china as a cowbell village, towns where farmers are trading in -- for computers and mobile phones to sell goods on alibaba's consumer to consumer site. in beeshon, one-fifth of the 2300 families sell on taobao. he started by taking orders from nearby factories from a 100 square foot room which he shared with his brother. >> some people saw him and thought, how odd, these brothers work until very little every day, what are they up to. >> tt his company, bs wolf, ships 1,000 packages a day to china's increasingly

cnbc. i'm becky quick along with joe kernan and andrew ross sorkin. it's the morning after for nfl fans. a big sunday of games with several big upsets including the patriots losing to the dolphins. a couple of overtime games and on nbc last night manning sees manning. three touchdowns to beat his former team. much more on sports coming up in a bit. >>> in corporate news, general electric is selling its appliance business to electrolux. the price tag of $3.3 billion. both boards have approved the deal. electrolux will continue to use the ge brand. we'll talk to the electrolux ceo coming up first at 7:00 eastern time. andrew, good morning. >>> good morning, becky. hope you have had a great weekend. alibaba is set to kick off the ipo road show in new york today. the chinese ecommerce giant is looking to raise more than $21 billion in the u.s. public offering. the expected per share price range set between $60 and $66. this would help the company or value the company rather at up to $163 billion making it the largest ever technology debut in the united states. and joe was reading that

scotland. >> cnbc hilla ibrahim is in the scottish capital with the latest on the vote. >> reporter: the vote is in, scotland rejected independence after a momentous 72 hours. they have decided to stay with the united kingdom of great britain. it felt relief if westminster. a 10% margin swept the no camp into victory. prime minister david cameron saying it was right for him to offer scotland's democratic vote and that britain needs to move on. markets may have called it yesterday, stocks are already rising, sterling up against the dollar, the yen, the euro. today, rbs led that rally. that's the scottish bank. they said that business as usual, standard life one of the first companies to say they would leave scotland in the case of a yes vote. today, they said they were proud of their scottish heritage. now, all eyes will turn from the markets again, back to the politicians to see what kind of deal they can thrash out that will mean more power has come to scotland, but don't put the backs up for their english mps. with that, back to you. >> cnbc's celia ibrahim reporting. >>> the soun

first here on cnbc. >> we'll discuss that decision by ebay to reverse course for something the company was articulating was not a good idea, namely splitting itself into its paypal. ebay represents more of the profits, but is not growing as quickly as the paypal business. i did have an opportunity to catch up with ceo john donahoe late yesterday. when he was fighting with carl icahn in a proxy fight earlier this year, he said a payment network needs a commerce network bike ebay. it's no wonder they are getting into payments and payment companies are getting into commerce. ebay helps accelerate paypal's growth. i asked mr. donahoe, what changed? >> we don't see that growing much in the coming years. it reached its natural limitation. paypal is the only payments network out there that's now much larger off of its home network than i. when you look forward, paypal can serve not just ebay but serve all the commerce iko systems. >> do you believe they don't belong together? >> they are coming together on the various eco systems. we want paypal to be the foundation on which they buil

today. stocks up today on a new report on what fed chair yellin may raise rates. he has cnbc fed survey. >> exclusive result on when the market thinks the fed will hike rates and what happens to the words considerable time? find out when "power lunch" returns. whenwork with equity experts who work with regional experts who work with portfolio management experts that's when expertise happens. mfs. because there is no expertise without collaboration. sfx: ambient park noise, crane engine, music begins. we asked people a question, how much money do you have in your pocket right now? i have $40, $53, $21, do you think the money in your pocket could make an impact on something as big as your retirement? not a chance. i don't think so. it's hard to imagine how something so small can help with something so big. but if you start putting that towards your retirement every week and let it grow over time, for twenty to thirty years, that retirement challenge sfx: crowd cheering might not seem so big after all. ♪ >>> the dow is near session highs right now. you have the energy stocks, oil

. he's a cnbc contributor. gis the top tom topic that we're going to be hearing about this week. >> thanks. the top topic is two clusters, if you want to split them off. one of them has to do with the sense of frustration that the ceos have that they just don't think they're being heard in washington. to our surprise, they're feeling a little bit better about their business advocacy groups, the business round tables, chamber of commerce and the like, maybe 80% think that they're trying hard in their advocacy, but 90% feel they aren't being heard. they have made no progress on the key issues. you had randall stephenson from at&t and he had a very optimistic discussion with you guys and "squawk box" back in the spring about the priorities. he and others there are admitting it's not going to -- >> it's not going to happen? >> no. the three priorities they had and even in a year, on immigration reform, tax reform, and trade promotion. but they're very optimistic about the economy. the 30% split were disappointed. it was like the business round table event yesterday. but pumped on sa

" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm barack obama along with joe kernen and andrew ross sorkin. we are coming to you live from the first annual clinton global ishtive conference in new york city. let's of state all getting together to talk about issues of social change. later this morning, president obama will be addressing this meeting. coming up at 11:00 a.m. eastern time, we have an interview with the host of the conference himself, former president bill clinton. that will air live right here on cnbc. we have a new lineup, the ceo of american standard and nrg energy. former secretary of state madeline albright. black stone's president, tone know james, and we'll cap it off with dpaer white along with actor matt damon. >> so we have a lot to do today. let's talking about breaking news overnight. american fighter jets going into syria and bombing isis targets. the u.s. did warn american fighters in advance. five arab partners are involved. the pentagon confirms they went after 20 targets. fuel depots, weapons spots and traini ining

in a first seen on cnbc. >> he talks markets. fed policy. the big facelift he's spearheading at the bank. coming up with antony jenkins. stay tuned for more. in a world that's changing faster than ever, we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. chocolate, soybeans, thisand apricots. made with what kind of chef comes up with this? a chef working with ibm watson, on the cloud. ingredients are just data. watson turns big data into new ideas. and not just for food. watson is working with doctors and bankers to help transform their industries. today there's a new way to work. and it's made with ibm. i'm the gas service supervisor my nhere in sonoma county.ez. we moved up here 35 years ago and we just love it up here, it's a fantastic place

august payrolls, and the winner receives a new cnbc pullover autographed by the "squawk on the street" gang, and we'll announce the winner in the show. secretary perez is joining us later on in the hour too. >> just days to go, that's right, days, before the product launch event, they respond to fallout from the foe toll scandal. tim cook says the company will add security alerts for icloud user via e-mail and notify them when someone changes the password. regarding the situation, he told the journal, when i step back from the terrible scenario and say what more could have. done? i think about the awareness piece. we have a responsibility to ratchet that up. that's not really an engineering thing. of course, frankly, the focus is much more on tuesday than the hacking of a handful of accounts. >> get ahead of it. the question, carl, you'll be there. >> yep. >> and the "new york times" has detailed accounts of a wearable, an iwatch, i guess is what it's called, what it can do. yesterday, trade publications came out with stories about, perhaps deals, this is speculation, not confirmed, s

% so far this year. here with the ceo of this stock in the cnbc exclusive. >> joining us now exclusively from irvine california is ceo of avanir farmpharmaceuticals. >> what about the data surprised investors so much? >> i think because alzheimer's has been such a difficult area to demonstrate success in the fact that we were able to demonstrate success in such a clinicaly meaningful benefit for patients that caught people by surprise today. >> tell us about the potential market. you are not treating the underlying cause of alzheimer's but treating something that effects about half with alzheimer's disease. >> we estimate over 1.5 million americans. the ability to ultimately get a product approved that can help the patients is something we believe will be welcome. >> tell us about how your drug is thought to work. i understand it is a combination of two existing drugs and some call it controversial because the drugs already exist. maybe tell us about those and whether it has bearing on how you can price the drug given the drugs are available apparently. >> it is a proprietary

recommendity that. >> they should hit the road. come on cnbc. dom, thank you. >>> bond world still coming to grips with bill gross' departure. what role did his leadership style play in his exit? thanks to you both for joining us. tracy, i would positive it i.t. it's not necessarily his personality, but his performance because it has lagged the past three months or year to date. bottom 30% of the morning star. >> that's certainly very true and we've seen outflows from the total return funds over the past few months. but you can't disregard the personality factor all together. there is been quite a few reports about erratic behavior by mr. gross. investors have complained they weren't informed ahead of time of el-erian's departure and or of the gross departure and that doesn't sit well with conservative investors. >> jeff, there is a lot that i want to say but i'll refrain from saying it. >> oh, come on. say it. >> no, and our viewers know bill gross and pimco have been great to our show and us. but i will say this. haven spoken to people with inside knowledge of the works of pimco, there is

secretary phillip hammon tells cnbc the country should shoulder its share of the burden. >> it's firm about attacks in the west from isil either by returning foreign prices or by external factors. that's why we're on a very much heightened state of vigilance in the uk at the moment. >> here is a quick check off european markets. we're slightly under water today. that said, we are close to session highs. we're still tracking the declines in u.s. and asia. the ftse 100 is off by 0.2%. we're seeing some green to the cac 40 1k39 ftse mib. we're close to one-month lows. for this year, we're on track for the biggest weekly drop in almost two months. >>> and in bond markets yesterday, this fall in equity markets was accompanied bay slight rise in bond prices. yields have ticked lower kwuns again. the ten-year treasury in the states is at 2.5%. germany is at 0.96%. guilt 2.34%. and in the currency markets, the dollar has settled overnight, but has recovered since dollar/yen close to six-year highs again. up by 0.3%. euro/dollar pretty much unchanges since yet. but it's all about the dollar, i

, the cnbc app is totally -- >> a little plug there. >> absolutely. and we want to hear from you on this. what do you think about a smartphone lane? join the conversation here on "worldwide exchange." worldwide@cnbc.com or via twitter @cnbcwex. so perhaps go on the cnbc app and send us a message through that. >>> let's have a look at the top performing stocks today. aces cut its outlook for 2015. a fire in the key distribution center in the uk damaged the third quarter. asos sales off by a whooping 10%, double digit decline here. thomas cook group, not faring much better, is down by 6%. this is after the company says it expects full year earnings above 3.35 million pounds. analysts do say geopolitical risks for its german business are partly to blame. and i want to continue with spain's jazztel shares are up by almost 6% after orange secured a 3.4 billion euro deal for the at thely come operator. the french firm says the takeover will boost its presence in the spanish stock m earngs to by 2017. last but not least, let's have a look at publisis shares. not moving a great deal this morning

this morning. we are now told by his son who spoke to cnbc that larry glazer, who owns the plane and is a real estate developer in rochester along with his wife, jane, that they were the only two individuals onboard this plane. as of about 10:00 a.m., we're told they were unable to -- faa reports unable to have any communication with the plane and then it flew on and on and on on a direct line on the preprogram line towards naples, florida. it was flying off of the east coast of the united states but never made that turn to bank in towards naples. and in fact kept flying. so u.s. f-15s intercepted the plane off of the u.s. coast. they achieved altitude with this plane to 25,000 feet and did a visual on the pilot and they said it appeared that the pilot, his chest was moving. that would lead them to believe that he was breathing, but they also reported that he was unresponsive and may have been in fact collapsed over the controls of the plane. so the plane continued flying. those f-15s following it all the way to cuban airspace. they broke off as the plane entered cuban airspace.

you were with us on cnbc, it was july 31st. the dow was down some 300 points. but that day you said stay the course. everything's going to be okay. and the market did rally since that low. as a matter of fact, we're talking about the fact that this market proves so resilient any time it is pressured lower. so what's your outlook right now? >> well, it hasn't changed, sue. if you look at companies and you look at the reality of the situation, productivity's up. earnings per share are up. and they're growing. cash is growing. we have reasonable pes, reasonable price of sales ratio. you have debt that's down. you've got, you know, shareholders that are happy. everything's rosy right now, and we'll continue to be rosy because there's so much money, sue, sitting on the sidelines in either cash or fixed-income products that at some point it's going to move into the market. so we're calling for the next 2, 2 1/2 years the dow to be at 20,000, and that's not really, you know, stepping way out to get there. it's only about 5% a year. >> you know, darren, talking about bonds, you've basically

are to some extent already planning on earlier appointments with higher rates, the cnbc fed survey showed the 37 economists strategists fund managers, seeing the first rate hike coming in june of 2015. the second survey in a row that they brought nearer for the date, the first hike. they see the fed hitting the higher rates in 2016 than the prior survey. whatever the outcome it seems the market has new faith in the new fed chairman janet yellin. 30% think they can execute the monetary policies smoothly, up 10% from the last poll, just 7% believe it will end badly with the stock market. half the surveys. and the fed chair gets higher marks for being clear, even better marks then her predecessor. will it last? yellin has a tough month to go, and she will need every bit of market faith she can gain to be successful. for "nightly business report," i'm steve liesman. >>> he is an economist at the center for policy priorities and former chief and economist economic policy adviser to vice president joe biden. jared, good to see you again. is the economy good enough in your view for the fe

other members of the cnbc family have said, king dollar seeps to have gotten recrowned. >> with janet yellen. >> yes. >> as well. >> queen dollar we call her. thanks, dennis. >> downward pressure on crude, which as we mentioned the last can um of days holding up a little bit better but here, not the case for the market. >> down 245 points right now and the industrial average decline of 1.4%. >> today's selloff could, could it present a buying opportunity in that's going to be the question, especially the railroad stocks. they have been surging big time over the past year. our dominic chu looks at where they've been and where they could go from here after the break. >>> also ahead, wisdom tree's chief investment strategist, i always get that wrong, luciano. also, jim grant of the wisely read newsletter bearing his name, speak with us exclusively, talk markets, fed policy and more coming up on "closing bell", stay tuned. siracusano. all the way until the am. new aleve pm the only one with a sleep aid. plus the 12 hour strength of aleve. the smartest or nothing. plus the 12 hour st

. >>> good morning, everybody. welcome to "squawk box" here on cnbc. we are joining you live this morning once again from new york city. i'm barack obaecom becky quick kernen and andrew ross sorkin. the nfl season kicked off last night with the seattle seahawks taking on the green bay packagers. the seahawks picking up where they left off last season. we're going to be talking a lot more football at 7:00 eastern with new england patriots owner bob kraft and future hall of fame quarterback tom brady. a lot more to talk about in this morning. >> the big story of the morning, the latest employment report. it is jobs friday. polled forecasters saying the economy likely added 225,000 jobs last month. that would mark the second straight month payrolls increased by 225,000. we haven't seen a stretch that long since 1997. the unemployment rate expected to slip to 6.11%. futures ahead of those numbers and, of course, things can change dramatically in the morning. but right now, we have some red arrows with the dow, it opened down about 41.5 points. the s&p 500 would open off about 6.5 points and t

later this afternoon. cnbc's michelle caruso-cabrera has more from scotland. clearly a victory for those who wanted to keep the united kingdom intact, but, still, this did reveal some deep political divisions. so ways the mood like on the ground there this morning? >> well, the mood is divided, just like the electorate was clearly divided. 55, no, 45, yes. so those people are clearly disappointed. what is new now is that, remember, to get that no vote, david cameron and the other leaders in the major parties promised scotland a lot of things that scotland was going to get a lot more power over their taxes. how their money was going to be spent. that process has to begin now. somehow, they have to deliver on that. on top of that, the prime minister of this country said that they're going to do that for all the nations within the united kingdom. he announced a huge structural change in the way this country is governed. it's very similar to the discussions we have in the united states about how much power should the federal government have and how much power should the states have. be

who spoke to cnbc. >> a tragedy. >> good afternoon, i'm luke russert, we're starting with breaking news, the jamaican military says a unresponsive u.s. plane has crashed into the ocean 14 miles northeast of the island of jamaica. the small private plane triggered a security alert, tailed by a pair of f-15 fighters after it veered off course and pilot failed to respond to calls the plane left rochester bound for naples, florida, but never made the turn it was supposed to make eventually heading over cuban air space where the f-15s peeled off. we want to play audio from the f-15 pilots observing the unconscious passengers who were on board. >> is he breathing? >> i can see his chest rising and falling, right before i left, it was first time we could see he was actually breathing. it may be a deal where depending on how fast they descend he may regain consciousness once the aircraft starts descending for fuel. >> it's believed the two passengers lost consciousness potentially due to deappreciate you'rization and condition known as high poxia, his son ken confirms to cnbc, that mr. gla

fredericksburg. cnbc's mary thompson is here to explain this sight may be a little more common soon. mary, good morning >> reporter: yes. we are hoping it becomes more common for more people. some areas may not see that less than $3 a gallon. consumers could finally see real relief at the pump. energy experts say in 30 states the average price of gas could fall to less than $3 a gallon. for new york and washington, d.c., probably will see gas selling for $2 and change any time soon. this year they are lear by falling global oil prices. $3.35 is $10 below what it was at the same time last year. . >>> apple is moving to beat back the bendgate scare. yesterday they walked through the rigorous tests that apple products two through. this is the most tested ever, going through 15,000 tests before being relea only nine people have complained to the company about the bending. the tech giant rolled out an older version of its operating system because people were complaining about that. . >>> mary tom son at cnbc, thank you. some of you might be a little grumpier than normal after the redskins got

starting late next month. >>> now, lids check in with cnbc's tyler mathisen who has a preview of what we can expect the week ahead on wall street. >> if it feels cooler outside, it's because autumn arrives this tuesday. if traders and investors are feeling red hot, it's because the dow and the s&p 500 are coming off fresh record highs this past week. now, alibaba delivered on friday, becoming the biggest initial public stock offering in history. this week it's just another company trading on the new york stock exchange, except it's a really big one, suddenly worth  about as much as wells fargo bank. this week we get the latest read on economic growth in the second quarter of the year with estimates calling for a 4.5% spike, a huge turnaround from this past winter when the economy shrank on something of the order of 4%. we'll get housing figures and we may also hear home prices are inching higher but more slowly than before. a few earnings reports trickle in. we hear from kb homes, the retailer bed, bath and beyond, carnival cruise like, blackberry and dow component nike. finance

this weekend. i'll tell you what it is just ahead. but jane wells has this cnbc market wrap. >> everybody is going to watch me now to find out what that is all about. alex. here's a look at how the stocks stand. the dow, this is good. surging 167 points. rebounding from thursday. the s&p closing up 16 and the nasdaq rising 45. alex and jay z, next. that's it from cnbc. wouldn't it be great if hiring plumbers, carpenters shopping online is as easy as it gets. and even piano tuners were just as simple? thanks to angie's list, now it is. we've made hiring anyone from a handyman to a dog walker as simple as a few clicks. buy their services directly at angieslist.com no more calling around. no more hassles. start shopping from a list of top-rated providers today. angie's list is revolutionizing local service again. visit angieslist.com today. beroccaaaaaaaaaaaa! [popping & fizzing sounds] support both mental sharpness and physical energy with berocca. proud sponsor of mind and body. to build something smarter. ♪ some come here to build something stronger. others come to build s

business is now taking off. cnbc's julia boorstin takes a look at high-tech tutoring. >> tutoring is $7 billion business in the u.s. alone. thanks to new technology virtually connecting to students online, more students can access better customized help 24/7. revolution prep with $15 million a year in revenue is growing 75% a year. >> we have a platform similar to skype. two-way webcam, shared white board. curriculum embedded there in the technologies. >> a range of internet and education giants are jumping into tech enabled tutoring making acquisitions and investments to bolster the section poised. bought princeton to combine with tutor.com which connects students to students in subjects. bought for $30 million, education bought up tutor vista and grand holdings pushing test prep online. meanwhile startups, wyz and revolution's online offers are growing fast by offering the power of a personal connection. >> one to two hours per week of private tutoring on top of that can make a dramatic difference to a student being 3.0 to 4.0. great roi. >> investors see the potential, poured over

. love. it's what makes a subaru,a subaru. >>> an historic week on wall street. cnbc's tyler matheson gives us more on that and update on who is hiring thousands of workers ahead of the holiday season. >> history was made on wall street this past week. both the dow and the s&p 500 reached all time closing highs after some strong economic data on inflation and jobs and assurances from the federal reserve record low interest rates are not moving up any time soon. >>> and history of another kind made when chinese e-commerce giant aliba ba became the biggest stock offering ever, raising nearly $22 billion from investor. >>> we now know just how bad that home depot credit card breach was. retailer admitted the data belonging to 56 million customers is now at risk. far more than the 40 million cards hacked at target stores last year. a lot of buzz about the new apple iphone 6 and 6 plus. it hit stores this past week after racking up a record 4 million preorders but demand was so great that some customers won't get their phones until october, maybe even later. >>> there's a big beer

" begins right now. good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen. andrew is off today. there is rain in the forecast here in the new york city area. that is adding to some of the drama around all this hoopla. we're going to have a live report from the bronx and more on what jeter's second act would be away from the baseball diamond. that will be later in the show. in market news, the dow is back in positive territory for the month. the s&p and nasdaq both have more work to go to get to that point. dow futures up by about 14 points. s&p futures down slightly and nasdaq up slightly. august durable goods. then at 11:00, the kansas city fed survey. >>> apple having a rough week after, you know, a couple of good weeks, after that new intro. reports are flying around social media about problems with two of the company's new products. first, there was what we talked about yesterday, there it is, bend gates and it cracks after you try to put it back. >> iphone 6 buyers claiming the device can bend when placed in back pockets. it depen

with alibaba but when cnbc interviewed him he said we're going after walmart. his cfo then said we think we can overtake walmart in terms of sales by 2016. to give you some numbers, $470 billion. that's the size of sales for walmart in the last fiscal year. they are by far and away the world's largest retailer. alibaba has to go some to catch up. the cfo thinks they can get to $490 billion by 2016. when you look at the growth rates, walmart is doing low single digits, alibaba has been doing 40 to 50% a year over the last five years. having said that there are still plenty of analysts who think it may have reached the top of its current growth phase. so, wait and watch. it will be fascinating reading whatever happens on this story. i just want to move you on here. this one i think is very interesting. j.d. rockefeller we all know the story of standard oil. this manmade his money in the oil business. now in a very interesting twist here, the fund that still bears his name ron by rockefeller brothers, has said it is going to divest itself of fossil fuel shares. this fund will no longe

>>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. what's left of tropical storm o did he o is dumping a tremendous amount of rain on the southwest. some areas of new mexico have been hit with a couple inches of rain. another 3 to 6 inches of rain are expected over the next couple of days. the region is at high risk for flooding and property damage. after weeks of speculation about change, the fed deciding to stick with the status quo. the central bank telling investors that it is near the end of aets purchases and reiterating that it will not hike interest rates for a considerable period. >> i want to emphasize that there is no mechanical interpretation of what the term considerable time means. and as i've said repeatedly, the decisions that the committee makes about what is the propose time to begin to raise its target to the federal funds rate will be data dependal. >> all right. seems confusing enough. but the bulls do seem happy enough with the fed at least for now. the dow closing at another record

because of the government today decided to black out all of the broadcasters including at cnbc. that is one of the measures this they took recently. they've been vetting the internet. they blocked instagram, they've been stopping and centering certain terms on wi chat and wave book. these are social media apps. basically what we're seeing in the press is a focus on the costs to hong kong because of these protests. mainly, they're talking about how schools have been closed also all these wall street banks that have offices here. they've been additionally in inconvenience inconvenienced. there's been a lot of focus on how the hong kong market has fallen and how there's legitimate teryness because of the protests in hong kong. beijing does have a huge challenge on its hands. it is not seen as very tolerant to any sort of dissent, especially this group of leaders. and they are faced with tremendously hard choices from their perspective. on the one hand they could decide to back down. but if they were to do that they would be seen as -- potentially seen as weak potentially im boldening ot

! >>> let's get down to business with cnbc's morgan brennan. good morning, brennan. >> the markets are focused on the fed which wraps up a two-day federal policy meeting. the fed announces its decision at 2:00 p.m. eastern followed by a conference by fed chair janet yellen. they're speculating whether the central bank will tweak its says post-meeting statement. meanwhile, fedex will hike shipping rates by an average of about 5% starting in january right after the holiday season. that move affects ground, express and freight deliveries. earlier this year fedex announced it would start charging by box size as well as weight. but there is some good news at the pump, at least. expect cheaper gas prices this fall. gasbuddy.com is predicting average prices will drop to as low as $3.15 a gallon. and some 30 states could even see gas fall below $3. now, that's due to lower demand. and as refiners switch to cheaper winter blends. betty, back to you. >> below 3 bucks sounds pretty good. thank you. >>> in california, a state of emergency as wildfires continue to burn. the images are eerie. these

money. my job is not just to entertain you but to teach you. call me at 1-800-743-cnbc or tweet me @jimcramer. we have our first ebola virus case in the united states. we all heard it. we have to hope for a speedy recovery and no further outbreaks. it does come at a bad psychological time for the stock market where confidence is going lower and there's a host of other issues including the spread of the ebola virus. have the economies of the worlds peaked. it means it's as far as you can go. it suggests it's all downhill from here. that's how i feel today. dow dropped 28 points. nasdaq dropped. so much seems to have gone wrong and is how off kilter. there's a handful of stocks going along their merry way. the end of the quarter is a great way to assess peaks or we truly have no place to go but down. first we know the world is slowing perhaps slowing at a surprising velocity given the strong head of steam we came into the year with. what makes us so sure that things have slowing. sometimes it's obvious, commodities. any commodity in sync with growth that has to do with putting things

cnbc is reporting that stocks could get slammed today. jeff, what's that all about? >> yeah, good morning, joe. well, look out below because steve liesman, our very own economics reporter, is saying that the fed could remove the consider time language when it references interest rates at its meeting next week. and if that happens, that will be seen as a less dovish statement from the fed. and that could move forward expectations as to when we get the first rate rise in 2015. it may not be a good signal for the markets. i've got nothing to cheer you up this morning in this first bit of the report because the other news we've got is debt for seniors. student debt in particular. just seems to be on the up and up. you know, 2005, seniors had debt of $2.8 billion to pay back. it's now $18.2 billion. and if they don't pay that back, it could have some impact on the benefits they claim. so it's a tough road ahead for many seniors who are still laden with not only their own student debt but some of the student debt for loans they've taken for their children as well. back to you, joe. >> g

finance minister tells cnbc that buyers are lining up to snap up assets in his country. >> the investors do see that there's only upside potential in t the country. the economy stabilized after six years, so their bet, i will succeed. >>> all right. we'll have a look at the your mean markets. the ftse 100 is just flat now. keep in mind, the shares bucking the trend are heineken and sab miller. the xetra dax is eking out a ga gain. >> and if we look at bonds, a steady improvement in the u.s. mac macro data has pushed up the yields. the gilts are at 2.55%. >>> the upgrade came as the ministers gathered with structural reforms as a top talking point. according to reports, the greek finance minister they are veeped during one discussion to point out his country had been congratulated by the oacb on economic changes. >> annetta was at that meeting and has more on that for us now. >> thank you very much. i spoke to the greek finance minister exclusively and indeed he was quite proud that he was named by the prime example to push for reform, but also he was saying that it actually helped to hav

illustrated senior writer college co income, but first, hampton pearson has our cnbc market wrap. >> how are you doing, ari? the major averages are in negative territory for most of the day before rallying toward the close. looking at stocks standing going into tomorrow, the dow losing about 20 points and the s&p up, however, almost 2 and the nasdaq gaining 5. that's it from cnbc, first in business worldwide. this is kath. setting up the perfect wedding day begins with arthritis pain and two pills. afternoon arrives and feeling good, but her knee pain returns... that's two more pills. the evening's event brings laughter, joy, and more pain... when jamie says... what's that like six pills today? yeah... i can take 2 aleve for all day relief. really, and... and that's it. this is kathleen... for my arthritis pain, i now choose aleve. get all day arthritis pain relief with an easy-open cap. some people think vegetables are boring. but with green giant's delicious seasonings and blends, we just may change their minds. ho ho ho green giant! whenwork with equity experts who work with r

chief washington correspondent for cnbc and was also a political writer for "the new york times" and writes a weekly column, the political memo for the paper and in addition to cnbc, john offers quick analysis on meet the press and also the washington weekend review of on other television and radio programs. the reporter for "the wall street journal" based in dc and in that position, he covers business, lobbying and campaign finance. he starts his career at the national journal "congressdaily" and later rollcall where he covered congress and well-being. he is twice won the everett mckinley dirksen award for distinguished reporting on congress and he also won the george polk award and received an award from the national press club for the best political reporter under the age of 33. so, i want to start with that. [laughter] >> it's still a great way to start your career. i'm going to start with peter. you have great expertise in money and politics. what did you see the impact of billionaires and has their influence changed over time click >> billionaires includes changeover time just

york city. that interview will air live here on cnbc. oh, man, we've got so much to go over. let's start with the markets given yesterday. b we saw the s&p down 0.8%. geopolitics this morning with significant bombing of targets and syria. what do we do? >> we are in a bear market for commodities. it's begun the last few weeks and accelerated yesterday. the fact that oil is up 60 cents despite potential major disruption in the middle east. shows you, it is just -- popper was off gigantic yesterday. these are signs of a worldwide slowdown. if there isn't a deal between russia and europe, europe is going to slip onto a very serious recession. the chinese comments resonated throughout the world. we are starting to see new signs. oil slowing. truck building slowing. that's been driven. aerospace rolling over. when the commodity complex rolls over, it reminds people of august of the between period where you began to see -- no, bear market and commodities. you've got to own it. >> that's when the credit markets stopped functionally properly a slow, steady drip of credit markets seizing up

. from td ameritrade. >>> you are watching cnbc "squawk on the street" you can hear the applause on the stock exchange board with the opening bell set to ring in 40 seconds on this apple product day. >> and now natural organic day. i see hain sneaking over. annie's 70% was short. >> over here at the big board, ringing that opening bell. industrial and technology company johnson control. >> underperformed the group. >> hvac in europe has been disappointing. >> over at the nasdaq, bioblast pharma focuses on rare genetic diseases. back at hq, the realtime exchange does look like a negative open with four components of the s&p in the red. by a good amount. 2/3 to 1/3. that is my take. >> this market yesterday was led down by the oils. >> yes. >> nasdaq was up yesterday because of netflix which got a target raise today and because of a couple of stocks that are involved in, i'm going to say it. automatic driving. mobile eye, movies, go pro. these are my speculative favorites. >> they replaced liquid lumber. tractor supply. >> thank you for mentioning other stocks that captured the moment

left tracy morgan with head injuries, leg and rib injuries. in a statement today, the cnbc walmart said "the company continues to stand willing to work with mr. morgan and the other plaintiffs to resolve this matter." the walmart truck driver has pleaded not guilty to death by auto and assault by auto charges. >>> still ahead for us tonight, trouble in the air now being called the most challenging time since 9/11. after an attack left damage much more severe than first known, it could be weeks of headaches ahead for air travelers. >>> and later, millions of customers now paying a lot more to withdraw cash from their bank accounts. >>> tonight, the head of the faa has ordered a major review of security and contingency plans at faa facilities after an attack by one man on an air traffic control center outside chicago that crippled thousands of flights and continues to impact air travel across this country. and it could be weeks before things are back to normal. nbc's tom costello covers the aviation industry for us and has tonight's report. >> reporter: day four of a massive air traf

the new york stock exchange with the largest ipo ever. cnbc's has more. good morning. an update in a second. let's start with home depot and this big news about the credit card, deb ed cart breach and compromise worse than first thought? >> reporter: yeah. it's way too common. target had 14 million cards breached. home depot topped that. 56 million cards were breach ee malwear between april and september of this year. the cost of the target, about $ 0 million of which sides 27 million will be covered by their insurers. interesting. they had smaller breaches latch year and internal security experts said put more security on. it appears that security was not put on as well. but as i say, 56 million cards, it's way too much. also alibaba ipo. just a fly. this is the biggest commerce online company in china accounting for 80% of their e-commerce there as well. going to be valued at $163 billion. north of $200 billion could, go, once starts trading on the secondary market. early investors will realize about $8 billion of profit in total. the listing will realize more than $2 billion for