acquisition ever in the brewing industry. sab shares are up more than 20% on the news. the fed meets for the first time in nine years. a rate hike is seriously in play. the decision hits the tape at 2:00 p.m. tomorrow. markets are flashing make signals about what they think janet yellen for the next. can been carson trump donald trump? 11 gop candidates take the stage tonight for it resident told of eight. but therump is teflon neurosurgeon is suddenly hot on his heels. ♪ matt: let's get right to a market check this morning. stocks are in the green. at least as far as the s&p 500

and the dow jones industrial average. you could call it unchanged but futures earlier were indicating a drop. at least a turnaround from their. -- there. we are seeing buying in the two-year, five year, and 10 year. all a turnaround from this morning. this after lloyd blankfein said at a "wall street journal" breakfast he does not think the u.s. economy can bear an increase right now. goldman sachs message carries a lot of weight. we are watching beer this morning. it is not too early. it would bring together the world to biggest beer makers and control half of the industry's profits. the shares of both gaining big. sab miller trading up in london. anheuser-busch trading here. let's look at the top headlines.

u.s. consumer prices are down for the first time in seven months thanks mostly to lower gasoline. the government reports the consumer price index fell in august about 1/10 of 1%. that reverses a slight increase in july. gas prices fell more than 4%. not counting food and energy prices, core inflation rose modestly last month. also 1/10 of 1%. the consumer price report will be the last piece of the data puzzle for policymakers deciding if interest rates should rise. this is the first of a two-day meeting leading to an announcement on rates tomorrow. the inflation rate will be a key component in the decision and is running well below the fed's target. a chief economist at goldman sachs said he would not be surprised of the fed does not take action. >> when things go badly in the rest of the world, it's a natural spillover from here.

i think the reason to push it into development for 2016. futures contracts show there is a 30% chance of a rate hike but that is down from yesterday, last week, and last month. with the clock ticking towards a government shutdown, president obama will join the budget debate today. he will call once again for ending a tax loophole that benefits hedge fund managers. federal agencies run out of money two weeks from today. agreement on a new spending plan has snagged on many issues including funding planned parenthood. the house is only five days left in washington this month. chrysler got some candidate contract agreements with the united auto workers. they celebrate it must night but revealed little about the terms they agreed upon. it will end the two-tier wage structure.

networks is in talks to buy stars. amc and stars combined would gain leverage in negotiating fee from pay-tv carriers. starz owns encore premium channels. target hopes its employees will shape up. there offering fit bit trackers to its workers. the goal is to improve fitness and lower health care costs. those are some of the top headlines where following this morning. coming up, the federal reserve kicks off its much-anticipated today rate meeting today amid soaring global volatility. will janet yellen do anything to calm equities? plus, when you need to watch for in tonight's second republican debate. including which candidate might have the most to gain. and the united states stopped exporting oil 40 years ago. we are not allowed to by law.

could be shale boom soon change that? the stories and more coming up on "bloomberg market day." back to beer. anheuser-busch said it intends to make an offer for sab miller. is a megadeal that would bring together the two largest brewers in the world. matt campbell in london. matt, a massive amount of the market -- i was looking on the terminal to see how much revenue these two would account for. matt: it is just gigantic. it would be a very large steel and what is already a very consolidated industry. these are the two biggest players. they do not have a large amount of geographic overlap which is one of the reasons the transaction could be executed. you lookno question if at this from an antitrust perspective, it is enormously complex. matt: i was thinking antitrust.

i care about beer but no one really cares about beer. as not like telecommunications or computer chips. is it important? matt: i think the regulators it is important. it is a consumer product. people buy it. millions of people buy it. you don't want to buy -- see rolling over for companies be scene is rolling over for companies like this. a lot of antitrust lawyers are thanking their lucky stars today. matt: went good idea look like? we see molson coors gaining considerably today and other analysts say they would move into pick up the pieces. look and the pieces are there to be picked up? matt: there is significant overlap in the u.s. dispose ofhave to that. there are other targeted

divestments in different places around the world. the geographic overlap between these two guys is not huge. anheuser-busch is rooted in latin america and brazil. sab miller is from south africa. moves --hat the "sa" means. they are from two sides of the atlantic. the overlap is not that extreme. matt: in london you have long had delicious ales to choose from but here in the u.s. it is only recently been popular to buy something other than these horrible loggers made by these giant brewers. is this one of the reasons they are getting together? they can just no longer sell so much bud light and miller lite. everybody wants an ale or something like that? matt: absolutely. this is the craft beer revolution network. they still sell plenty of miller lite and bud light but there is

no question that a lot of consumption is going over to craft brewers. they do it occasionally by a craft brewer that is not enough to stop the trend. a lot of people are jigging wine instead of beer and a lot of people are taking less. industry and a serious set of challenges and what do you do when you stop growing? you consolidate. matt: any idea on the price? as a.b. miller is worth a little bit over $90 billion in market cap. it is interesting this would leak. i'm sure and as a bush is not happy about that because it will have to be a bigger premium, right? matt: this did not leak in the traditional sense. nobody broke the news. there was an announcement by sab miller this morning that it had received an approach after insurers shares and run of quite significantly yesterday. obviously there was a sense of the market that something was going on. we do not know the price.

there are no numbers attached yet. it will have to be a very significant number to get a deal done. matt: yesterday we saw out tree ahead canceled a slot. had cut inr-busch appearance. matt: that got people talking. people were talking about in the cancellations had to do with a deal or set of an unfortunate coincidence. the u.k. has a pretty aggressive mergers and acquisitions regulator to take over when the rumors floating around. they are very proactive in calling up companies and saying look, if something is going on, you have to disclose that to the market. that may have been what occurred. matt: matt campbell joining us from our london bureau. coming up, we are continuing coverage of the federal reserve today rate meeting. at 36 speak with anthony

south capital advisor said the filament -- fed will not do anything to calm global volatility. ♪

♪ matt: welcome back. i am matt miller. we are about 45 minutes into the trading session. stocks still looking for direction as everybody waits on the fed. julie is back and has the latest on the markets. julie: let's look at the average is in the lack of direction you are talking about. the major averages are little changed. the me look at my bloomberg terminal to verified. the nasdaq very slightly lower. the s&p and the doubt gaining a slight bit of traction. we've got hewlett-packard that is gaining after the coveney

says it will cut as many as 33,000 jobs. it is been doing a lot of cutting of jobs for the past couple of years. this is my head its split into two companies. inc.terprise and hp most of the cuts will be at the enterprise unit. the company taking a charge as a result of this and some analysts are saying it will need to do more than restructuring to repair the two pieces. we are seeing a rise in the share. one could call it a rebound because they are down more than 30% on your today. we are looking at general electric. it was added to a focus list that said he could rebound up to 28 r $29. -- $28-20 nine dollars. $28 has been the upper bound. it would be breaking out of that little bit of a range. the analysts says there are some catalysts that could help,

including continuing m&a. they are doing a lot of divestitures and a lot of share buybacks good start in the second half of 2016. it would be another catalyst potentially for the shares. that is what we have on the upside. on the downside we have fedex. they cut their profit forecast for the full year. it is only three months into the fiscal year but already cutting the forecast. its seeing higher insurance costs and also a softer demand for "less than truckload shipments." that's when they put their shipments on a single truck. xpo buying conway. the shares are down about 3.3%. they were up yesterday. -- that is after an analyst called. downgrading first softer for memory chips. it was good to neutral from a buy. matt: thank you very much for

that. let's look at some of these top stories. toys "r" us will hire fewer employees this year. they are adding 40,000 temporary workers, 5000 fewer than last year. a turnaround plan is that the come after three years of falling sales. despite the trend toward healthy diets, a portion of american teens and children that he fast food is the same as it was 20 years ago. the government says it is holding steady at about 33%. scientists say fast food contribute to childhood obesity. facebook is looking to change its like it or not approach. they will have a button for viewers to show sympathy when they see something sad or upsetting. such a button would make it too easy to criticize a post. says the company. those are your top headlines.

the federal reserve starts its rate meeting today. along with china's recent market it is led all to an increased global volatility. month and ourlast next guest profited. anthony limbrick says volatility is here to say and the federal reserve will not do anything to calm equities. anthony, thank you for your time today. what you expect from the fed tomorrow? will it do anything at all? is a veryhe fed difficult thing that forecast. and think it's better to look at the market going into the event and i'm a fan that the market has rallied. it's almost been a relief before we had the decision. that's a sign of some potential vulnerability.

i think it's better to focus on the bigger picture which is that we are dealing with a global economy that has a debt problem. one of the reasons why we isieve volatility potentially going to increase quite substantially is essentially the global system has been leveraged up. there has been about $60 trillion of debt since 2007. , roughlyunk of that 32% or 30% has been in china. you create instability. that leveraging up combined with suppression mechanisms come central banks we believe could see a test. we could see some tests of the boundaries of the current control mechanisms that the central banks have in place. matt: are you talking about a selloff in debt? anthony: i think unity

correlation go to one which means all's assets would get hit. the credit spreads wider. i'm not saying that would follow through it all. we are talking about something potentially like a test of the central bank ability to control the system. the test may look quite ugly. we are not predicting that eminently. we are saying there is a vulnerability because of the debt in the system. the pathway to that is still indeterminate. matt: what could the fed do, if anything, to turn this around? deleveraging is not fun for anyone. anthony: the fed should have been something about 35 years ago. they are dealing essentially with fixing current problems in building a problem for the future. we are replacing debt problems with more debt. rates end we see interest

, government rates going very close to zero all around the world because of this attempt to try to keep the debt problem under control. if you think about the interest of a trivial debt, as debt grows the amount of interest in system can pay is reduced. therefore, interest rates must be a lot lower. they will be continued to be tested. move inthat the august markets was essentially telling the federal reserve that it is going to be difficult to raise rates. matt: will we see the opposite effect? mark farber comes on a talks about sort of qe infinity. are going to see at some point another move towards quantitative easing? anthony: we believe so. you need a test for the system to provide impetus for the banks to do that. we would expect that going

forward. at some stage there will be a quite serious test of the fed's resolve. it will be interesting to see if they do hike in what the market is as a result. we would see that -- say that maybe the market can take another hike. but the market is already struggling. matt: are we seeing evidence of the fed's lack of control. cpi dropped 1/10 of 1% and it doesn't look like the fed can achieve anything near a 2% target that it is looking for in inflation. anthony: i completely agree. when you look back to previous tightening runs over the last 30 years you will see the cpi was around 2%-3% for they made a move to a higher rate cycle. we are dealing with inflation around zero roughly. that is an important question that people are not asking the markets of the moments.

we are near the peak of an economic cycle. maybe not right at the peak but near. around zero. what happens when we are in a down cycle? where is inflation at that point? it typically peaks in the top of the cycle. potentially a double-digit deflation. at least single-digit inflation. matt: anthony from 36 south capital advisors. join us tomorrow for a live coverage of the fed decision with a special report set for 2:00 p.m. turn the volume up. janet yellen has a news conference at 2:30 writer on bloomberg television. we will broadcast that live for you. still ahead, retired neurosurgeon ben carson is rising significantly in the polls. what can we expect to hear from the front runners at tonight's

second gop presidential debate? ♪

♪ matt: the top 11 republican president shall hopefuls will square off at a debate tonight posted by cnn and the reagan president shall library. poll, retired neurosurgeon ben carson is closing in on donald trump. with a preview of what to expect tonight is phil mattingly. phil, ben carson doing well. phil: he is real right now at least. the key thing about ben carson is something below the top line numbers. that is his favorability rating. nationally, it is in the mid-70's. in new hampshire it is 81 according to one survey. if you look at the numbers, this was coming. tonight will be a very good test

for him if he can handle himself on the big stage. matt: what is it that brought this meant to the public eye? there was a documentary about him but he is not been in the news as much as the other candidates. definitely not donald trump. how can he get this much publicity? phil: he has worked behind the scenes for years. he has a tight base with tea partiers, evangelicals. his grassroots support is what is really there. he has 69 -- 6,000,000-9 nine to $9s -- $6 million million. they don't need cnn or bloomberg to be talking about ben carson to know they like him. that is what he has established now. when you talk to other campaigns they recognize that for the moment his numbers are real and they might need to figure out how to take him down. matt: meg whitman firing another 33,000 people at hp.

ina ran it before in donald trump is in criticizing her record. phil: but was that? donald trump has been criticizing carly fearing a -- finorina. phil: you will hear donald trump talking about it as much as possible. that is what the moderators want to see but hp will always be her weak spot. ronaldhil mattingly from reagan presidential library in california. we have a special one-hour "all due respect" from 5:00 p.m. in some think you do not want to miss on television or radio. ♪

matt: welcome back to the bloomberg "market day." i am matt miller. let's take a quick look at the markets.

first thought, what we are seeing in the equity markets. a little of a move higher from previously unchanged on the s&p are up dow jones, now we about .200 percent. not this much action in the treasury market. probably what you would expect as the fed begins their meeting. andt of buying going on that is a turnaround from what resolve this morning. the ceo of goldman sachs said he came out and does not think the u.s. economy can withstand higher rates. oldking news in her markets. weekly inventories are out of igo to julie hyman in the newsroom with headlines. julie: a surprising number, drawdown of 2.1 million barrels in crude inventories that ball is on the heels of the american petroleum institute reported similar numbers yesterday, so in line with confirming that. in crudea draw down but also a drawdown in inventory in oklahoma, specifically gasoline inventories

unexpectedly rising by 2.8 million barrels and distal ends up by about three point million -- 3 million barrels. onesesting numbers and that should very be supported to oil prices as we do have these supplies finally coming down a little bit. you can see the change in the inventory week by week. we also have production numbers recently that showed the production that may pull back. i think that shows the most updated pricing here, so we are seeing oil take a little bit of a leg lower and you sometimes do you see counterintuitive moves in the oil market following these numbers, perhaps, the idea that it is in line with yesterday. even though a leg downward, oil is trading higher and oil traders saying this morning that just like other market produce offense, people in the oil market are waiting for the fed as well. importedtory data is but the fed is also quite important. matt: thank you very much.

julie hyman there with the oil news. i want to continue in the united states with stopping exporting oil for the years ago during the energy crisis, but the boom and show production could soon change that. the house is expected to vote on a bill to lift the ban of the week ahead and that could set up a policy front with president obama who is opposed. joining us is mcgonigal, he is of the potomac research group of former chief of staff the department of energy. joe, set this up for me. quite a president be opposed to lifting the ban of exporting oil? shouldn't we be able to sell our goods to whomever we would like? joe: if we could've had some musicaga oh "poker face" coming this this segment, it would be appropriate. i think the president is trying to set the stage for some kind of deal on crude exports.

his official position from the that he waswould be not opposed crude exports like the keystone pipeline which he of course has vetoed and would be killed if it was attached to some kind of registration. instead, if you can get through congress, who would be for it or you would sign it, that i think the view was a couple of months ago and i think their view was probably it could never get through congress. now they are pleased with the prospects of bills being voted on on the house floor at the end of the month and in the center sometime later this fall as well. here?aret is the issue people concerned that exporting our crude but somehow drive up prices for american citizens at the pump because you would have to pay more to import crude from iran and other countries?

joe: really, the rationale against it or moving more cautiously, even among republicans in congress earlier this year, was any kind of potential impacts for gasoline prices. we have had about one dozen independent studies, including one from eia about a week ago, which said there would be little i couldf anything perhaps lower gas prices. we have got gasoline prices heading below two dollars a gallon, so i think concern about gas prices is not really it. in theally changes political customers in washington is that iran deal. months iweeks, or guess conversations will get lifted on iran which means crude oil exports from iran will be allowed to continue and probably will see about 752 million barrels extra in the short-term, then remains in

place. i think that is a politically indefensible position. it is what really moves congress to be more aggressive in pushing it and that iran deal is something that the administration and president is championing, so i think for the same reasons, it is forcing congress to take action. i really do not think the white with a bill,sented would veto it and it is important to recognize that the statement at the white house yesterday was just that we do not support the house legislation, we prefer the commerce department to do it. not a veto threat. i think what they are doing is trying to set up a deal that is floated by harry reeves to sort of trade the crude band for renewable tax credits. matt: let me jump in and ask -- whenever you distort markets like this, it hurts them pricing mechanism, is that happening because of this been? ban?for example , cheaper oil here because our own children users cannot send it anywhere?

doing veryrs are well under the current arrangement. they are getting discounted code and they will -- crude and they will still do well with accrued bandwidth day, but the profit margins that they have now will not be able to continue. refiners can export gasoline. i don't think the american public realizes we are exporting gasoline but not crude. matt: warren buffett buying into billups 56 -- phillips 66 and he might not be happy because their margins would sure. the mcgonigal, thank you so much of the potomac research group. coming up on the "bloomberg market day," college textbook prices are skyhigh and how some startups are helping students hit the books without breaking the bank. plus, the housing market seeing a recovery but how might the fed decision in fact the mortgage market? costs is trying to cut

again. how the company plans to save another $2 billion annually. those stories and more, ahead on the bloomberg "market day." ♪ david tempest of that chapter winning the white house. trumpets surging even though his hard-line immigration stance is turning off latino voters. speaking that hispanic heritage event yesterday, vice president joe biden said that message will eventually fall flat. trump and that stuff you are hearing on the other team, this is not just about democratic republic in, it is about a sick message. this message has been tried on america many times but or.

we've always, always, always, always, always overcome it. matt: the top 11 candidates in the polls will debate tonight on cnn. viewers will see two changes from the first of eight. carly fiorina as taking part and the candidates will be allowed to challenge one another directly instead of just answering moderator's questions. we will bring you a one-hour long our debate preview on "all on bloomberg television and happily, you can hear "all due respect" on bloomberg radio. more than 800 california homes are in ashes, destroyed by wildfires. the fires have forced at least 20,000 people from their homes. the biggest blaze is 100 miles north of san francisco and about 30% contained. firefighters could get help today because actual rain is in it or not,t, believe in drought stricken california. the death toll is 16 in the flooding in big utah-arizona

border. one person is still missing, 12 engulfed high water two vans and him and the victims were children. they lived in the community work polygamist sect is based and the same floods killed for others in a nearby park. your latest headlines in my bloomberg terminal perry still ahead on the bloomberg market day, how to save on the cost of college textbook. students have complained about being ripped off at the college bookstore. finally, the internet is coming to the rescue. we will show you how. ♪

matt:matt: coming up dated today, a special primetime edition of "surveillance" the special conversation with lake galileo at 6:00 p.m. -- with ray dalio at 6:00 p.m.

good morning. welcome back. i am matt miller and tend to get you caught up on market action. we could get out there in asia. green across the board. the nikkei finished up .8 of all present and the hang seng rose under 2.4% and the shanghai .omposite rallied almost 5% one big story out of the region, stock market probe, stephen engle filed this report from hong kong. phen: please are investigating alleged insider tring as they hunt for corporate in the $5 trillion stock market growth. last month, for other civic admitted tocutives insider trading. the government has been going after so-called malicious short-sellers, inside traders and those who spread false rumors. authorities say they want to appear by the stock market. the market collapse has put an abrupt and pacific's rise to be among the biggest worlds

brokerages and they have lost more than half the volume since april. matt: let's head out to europe for mark barton stands by with news from the continent. mark? afternoon.y good european stocks rising for a second day. feeling confident the fed is not going to raise interest rates tomorrow for the first time since two thousand six. is that reflected in the upward movements? european stocks boost. 70 five minutes before the end of the day's session, china stop with 6/10 of 1% lower and shares rose by almost 5%. there is one big story in town, sab miller up by 20%, what a day, what a morning. by the way, biggest increase of burress is the company listed in 19 -- it will be the biggest ever deal in the bear industry. the longerstory for

industry and what if they did for the bank of england because mark carney has testified before lawmakers right now. the pound, biggest increase against the dollar in three months, underlying wage growth, fastest increase in six years. the unemployment rate dropped, what does that tell us about inflation in the labor market? cawley just said it will become clearer on you for interest rates at the turn of the year. quick to get the bond markets before hand it to julie. as you can see, but they have on's up, bonds down, shall i see, stock markets up and bond deals rise in across europe. once again, we are waiting for the fed and china did us a favor. julie. julie: i loveb marks enthusiasm over beer. the fed news can compete with that tomorrow. in advance, not much changed to major averages because everyone is waiting for the fed.

what will it do? we have a sort of handicapping with the fed. fed funds futures market, take a look at my bloomberg terminal because we calculate this is the implied probability in the futures market. i know this a very busy screen, but the important number is right here -- 28%, the current probability that teachers traders -- futures traders are pricing into a market that we will see an interest rate increase tomorrow. then he goes to 42% of the october meeting and 62% of the december meeting carried this december, in has risen a little bit but it was 30% earlier, so it has come down a little bit from the levels. goldman sachs saying the market is vulnerable. same of market is honorable because really -- saying the market is possible because we don't know if the fed will do. we are seeing oil prices rise after inventories drawn down,

that reported by api, american petroleum institute and the u.s. government today, so we are seeing them hold on to their gains but traders are watching the fed as well. gold prices barely moving at all. they had a small move on monday and tuesday. the smallest move in a years. a little bit more of the game today going into the fed and we are seeing the dollar down a little bit after consumer prices in the u.s. contacted .1 of 1%, the first decrease since january. matt: thank you so much. with her.eck back in karen's these days are worried about how they can afford the high cost of college tuition -- parents these days are worried about how they can afford the high cost of college tuition and students can tell you that the price of textbooks is not easy either. we go back to school to show us now. >> fun is over for these students at the university of connecticut and there is nothing like a trip to the canvas -- the

campus co-op bookstore to bring them back to reality. >> anybody else need help? pimm: >> textbooks have nearly doubled and the internet is only now starting to impact major players in this multibillion-dollar market. >> this is $250, human genetics book. i rented it for $44. the uconn senior, and your biology major, with around $23,000 in to deadlines, is one of many savvy students looking to pay less. he brought his entire reading list, nine books in total, new, he would have paid nearly 500 $78, but by borrowing, renting, and sourcing free persons online, he saved himself $500. the publisher is somebody, they are the ones that made the book or published it, but in the and, it should be at an affordable level for college students. >> it is an increasingly common strategy and 82% of students comparison shop online, thanks

to a growing number of textbook aggregators and rental sites. publishers state renting, sharing, and buying books used drives prices, but critics blame and on competitive marketplace. >> the textbook publishing industry can raise prices with very little backlash from consumers. finally, we are reaching the point where students have hit their limits. bookstores say average annual cost have fallen nearly $100 in past five years, but text books and other learning materials remain prohibitively pricey for many students. at monroe community college in upstate new york, professors apply a single course but eliminate publisher textbooks altogether. >> this is a barrier for students and we don't want them having making choices about buying that textbook are paying gas and electric. now, we're going to need to do that with number looks. >> to save each of their students more than $100, when

they can tell a professor worked all summer on a new textbook, relying on open source material that cost them nothing. >> not only were students going to save money, but instead of going to a publisher that is going to offer a book that is generic, now we could make it specific for window community college students. >> back end uconn, student organizers say a similar program here would require an entirely new mindset. from faculty and administrators. professors,time especially at the research universities like uconn, the primary concern is that the textbook itself and how to make it more affordable for their students. it is doing their research. >> the most books part since -- all mys to research into prices, and creating a competitive market with increased choice and decreased cost. he is here with us now, it is hard to put into perspective

when you think about the cost of college and your pain professors, but when you look at just focusing on a text, $250? that's not even a hardback. what on earth is that? >> the argument they make is that they are limited edition and they cannot stay on shelves long and they need to get as much by the audit done as they can. argument against that, of course is it is a ripoff and that is a lot of students saying that. matt: if i saw a $250 book in my college years, when i was not so prone to falling balls, i would've just run it off on a two following-- rules, i would've just what it off on a zero recs machine. willem: that's what a lot of students ask if they really are going to use it and if it's only a chapter, they just do that and that defeats the object of having the book which is why professors are trying to build these types of competent materials that includes materials they only need in classrooms. matt: we will hear more from you

on this college tour. i know you went to elaine and session length -- wille happy to see as much of the u.s.m: education system as i can. matt: all right. application for u.s. home mortgages continue to rise, but how might affect decision impact the mortgage market? we will talk about that. stay with us. ♪

matt: do not miss tonight at 5:00 p.m., "all due respect." thespecial preview of republican debate and their live at the reagan library. that is only on bloomberg. fantastic program, fantastic couple of guys, well, one of them is ok and the other is very smart. back to the bloomberg "market day." i am matt miller. no doubt the housing market is seeing a recovery and the spring buying season has been extended.

according to the bank mortgage association, they continue to rise in purchase and refinancing applications while they jump. how might the fed decision impact the mortgage market? a question we hear a lot. matt, the president of united short financial, he joins us to talk about that. we do hear a lot this question, what will it do to the mortgage market? what is a 12.5 basis point increase?due to mortgages anything? matt: they are prepared for it based on what the fed comes out with and we will see how it shakes out, i can predict what they will do. matt: let's assume -- it does not look like they are going to, but let's assume they do raise rates for the sake of argument. that holds back people from buying homes or push them further into it? it will hold think people back because rates are so low, and comparing rent versus buying measurements, people are

looking to buy as an opportunity. scaring them down the road may be able change, but we think the rate change possibly tomorrow will not have a huge impact on the mortgage market at least for the next couple of runs. if it continues, that could make a difference. matt: i would think it would not bother people too much of mortgage rates approached 4%. would it get you off the fence if you are trying to make a decision and you were worried the fed was going to raise rates next year or in 2017? mat i figure makes sense fort people to get off: the fence and look at that, but will that make the difference or not? millennials are deciding if they wanted to buy or continue to rent. matt: a lot of people say they feel more comfortable venting, easier, less luggage to carry around, so does the, although you really do have to carry more luggage, but what about the portability of owning a home? is a much better? tt: buying a home is so

important to building wealth and building equity, and finding a mortgage broker that can help you do that and finding the right mortgage for you is a big thing going on. we are seeing a huge rise and we are busy because of it. much.thank you so i'm sure you are a popular barmaid for dinner party guest. president of united short president -- united sure finance. we will have live coverage of the fed decision at 2:00 p.m. and that will be followed by janet yellen's news conference at 2:30 p.m. we will get everything, including a q&a session all life on bloomberg television. when we come back, we talk about president obama addressing the business roundtable in washington. stay with us. ♪

york,11:00 a.m. in new 8:00 p.m. in san francisco. welcome to "market day." pimm: what credit hikes main for

investors and we will hold our own meeting to give you details. matt: hewlett-packard needs to cut cost. they plan to cut jobs again that thousands again. we will talk about the big changes for the tech -- shrinking tech giant. pimm: we await president obama scheduled to speak at the business roundtable and washington, d.c. within the hour and we will take his speech and question and answer session. matt: i am matt miller. fox. i am pimm 90 minutes into the trading day, so let's take a look at markets right now. u.s. stocks, a little bit of a bid for stocks, the s&p 500 up three points and job -- downturns of 21 points and everyone waiting on the federal blizzard rate decision which