iconic barriers to entry, monopolistic. i think the tail wind is coming. >> ups, the best time to buy the stock. last year 22% going into year end. great christmas. >> mu, a little bit of a pullback. >> great. thanks as wells. "power lunch" starts right now. and we start "power lunch" with a market alert. triple digit advance. it is a busy hour. >> indeed it is. on capitol hill on the eve of a major federal reserve decision sue is back at headquarters where we are monitoring stocks which are moving up in anticipation of whatever the fed does. >> you are absolutely right. let's take a look because stocks are on a tear. this is the high of the trading session so far. we are up 105 points. the s&p 500 up almost three quarters of a percent. the nasdaq bouncing back.

it is up about half a percent. the russell 2000 is participating today up a third of a percent. transports up 22.5 points. the yield on the ten year note moved down to 2.57%. we were up above 2.58 earlier. the gold market and the copper market moving to the upside. gold up about 0.2%. a significant advance. your questions obviously are why is the market jumping today. >> the copper thing could be headlines out of china, maybe more liquidity. stocks are at session highs right now. the cause of moves higher first off you have the chart watchers who are pointing to buying in the small cap stocks because they have been beaten down so badly. something many traders call an oversold condition.

maybe that is something to watch. remember the small caps real under performance maybe we have technical chart-based buying. then you have other traders at least in point to the energy sector moving higher. it is the best performing sector. you can see session highs up nearly 2%. others looking at reports that the federal reserve could keep language in the interest rate decision coming up tomorrow that will keep the words significant under utilization to describe the labor markets as well as considerable time when it comes to describing how long rates could stay low, basically the market acting as a jury deliberating, pondering the evidence and the result is ten-year yields lower on the day. a dow up 100 points. so far the market is trying to figure out whether this is jocking for position ahead of the big meeting tomorrow. >> thank you. we will get you with a market flash in just a little bit. let's talk more about the

markets. randy bateman and burns mckinny portfolio manager. nice to have you here. appreciate it. >> thank you. >> randy, we got this pop in the market on expectations that the fed will stay the course and maybe change the language a little bit more dovish. do you agree with that? >> i think they have been accommodative. i think the market has anticipated the changes we have seen in the past few months as they have ratcheted down their process. there are a lot of dynamics in place to keep interest rates lower anyhow. i think the market is off to looking at that but also a lot of other dynamics coming into play like the mid term elections. we have all of that taking place. might be changes in taxes as there are changes in politics, as well. >> talk to me about valuations. when you look at the market we have had a lot of stock buybacks.

record number by corporations and some are saying that that is what has been propelling this market to the upside. do you find fair value in the market? do you think we are slightly overvalued at this point? >> i think one of the things that is concerning about the buybacks is that for value investors like ourselves buybacks can be a fantastic indicator. if you look at peak years was 2007 before stocks plummeted. back in 2009 when there were fantastic values to be had that is when you hardly saw buybacks. the fact that corporations are buying doesn't mean companies have the fantastic timing. one of the things we look at is just pure valuations. we see a lot of expanding over the years. right now trading slightly above long time average. given profit margins are much higher than historical average and profit margins tend to be reverting. you are looking at stock market

valuations close to 20 times earning. >> what would you be putting money into right now? >> we just did a paper called opportunistic anomalies. this market will be moving on its own in terms of technical and fundamental purposes. look at situations like the ferguson issue recently there are always problems and always a solution to the problems. and the solution in this case would be body cameras. i think you have seen taser international move rapidly upward as a result of that certainly as we see this search for the truth there is always going to be two sides to every story. the cameras don't lie necessarily. i think you will see a lot of police departments pick up that. while the stock has moved i think it has a long way to go yet. >> thank you very much. appreciate it. let's go back to domwith market plash. >> gravity is finally taking hold of shares of rewalk

robotics. the stock sold nearly 3 million shares at $12 a piece. it is an israeli medical device company that designs and sells exo skeletons that allows patients with mobility issues to walk. rewalk has a market cap of $400 million to $500 million. in a programming note the ceo of rewalk will be on "power lunch" here tomorrow. you will not want to miss that. watch those shares. a huge run up and giving up gains today. as you probably know thursday, september 18 is a big day for scotland. voters will decide if it should be an independent country or not. the man billed as scotland's first home grown billionaire sir tom haunter is hoping to educate by putting together a book with the 16 most important questions. we want you to join the

conversation at cnbc.com/vote. should scotland leave the uk? joining us is an entrepreneur and fill philanthropist sir tom hunter. you took great pains to find as neutral and as many neutral academics as you could to put together the pros and the cons. there are 16 very important questions. you spent a lot of time and a lot of your foundation's money to try to educate people. given that what do you see as the biggest negative and the biggest positive of this vote? >> well, i mean, when the referendum was announced it was very exciting but it was also very daunting. this is such an important question for scotland, probably the biggest political decision

we'll make in my lifetime if not for the next 300 years, therefore i knew it was crucial that we didn't leave it to the politicians alone to inform us, hence finding some great academics around the world. i think we are two days away from making this vote, but there are still some facts missing from each side of the debate. i think what is missing from the yes side from a business point of view is the currency question. it's huge. it's fundamental and it is so important to business men like myself. and we still don't know if we vote yes if we are going to get a currency union with the rest of the uk or if that is not going to happen what is plan b. so that is what is missing from that side. on the no side i think there has been a positive movement today

with the three west minster leaders coming together but it is still short on detail about the extras a devolved scotland would get if we vote no. huge decision, lack of hard facts. >> the book takes great pains to explore both sides. i found it quite fascinating. you brought up the currency issue. let's say scotland does become independent, what currency would you like the country to adopt? >> well, i think asked professor leslie young of the graduate business school in beijing to have a look at the question for us. and his opinion was the best thing on currency on this narrow question of currency for business is the status quo. we know it, we can quantify it. there is no more risk than we already have.

every other alternative incurs more risk and therefore more cost. therefore status quo is best for business on this narrow issue of currency. >> the yes camp says that independe independence would allow them to do away with regulation that scotland frankly doesn't need and it is the business opportunity of a lifetime. the no camp says we know what we have, we can work around it. we are getting more powers from the uk and we may not be able to work around regulation. which side do you think is correct as far as business goes? >> i mean, i think as far as business goes staying with the pound in the current form is a big plus for business. we know the risk. we can quantify the risk. we can manage the risk.

moving, if we do vote yes, moving a bit into the unknown and therefore the unknown ups our risk, ups our cost. that is on the very narrow question of currency. obviously people make decisions on a wider range than just currency. >> absolutely. do you think if the yes vote carries that the big financial institutions like rbs, they have said they will leave scotland if the yes vote wins. do you think they would follow through with that and what are the implications for the country? >> well, financial services for scotland is a really important industry. we punch way above our weight in terms of our population, in terms of the size of the financial services industry therefore i would want to do everything in our power to keep and let the financial services industry flourish. some of the big names have said

they are going to have to look at the detail and make decisions. some of them have said if it is yes then we are going to move our name plate. i don't know what it means for jobs but it is just more uncertainty, sue. so i'm against uncertainty. >> i know you are. final question. you said in the forward to the book that you were genuinely undecided. now that you have the book completed and you have the facts from both sides have you decided which way you are going to vote and would you be kind enough to tell us? >> yes, i have indeed voted. my post of vote has been done. i put the cross in the box but i'm afraid i'm not going to tell you which way i have voted. >> well, i had to try. i hope you will come back and join us after the vote so we can talk about the implications for the country. sir tom, thank you very much. appreciate it. let's lock in the vote.

should scotland leave the uk? 49% of you say yes. 51% say no. and that is basically the way the polls are running in scotland right now. it is a razor thin margin with big implications for that country. >> it looks and sounds for all the world like a dead heat. nice try with sir tom there. i can't say that i blame him for not disclosing how he voted. >> i agree. we are in washington where the fed has begun the two-day meeting on the state of the economy and what to do about interest rates and more. joining me to talk about the economy and more is senator bob casey of pennsylvania. senator casey, welcome. i want to work my way back to the state of the economy now six years after the financial crisis. i want to begin with a topic that has been of significant interest to you and that is americans who are buying

internet, chinese ipos. you know we have a big one, alibaba coming out on friday this week. you wrote to the chair of the securities and exchange commission asking her to look into safe guards and transparency of chinese ipos. what did you hear back? are you satisfied that the alibaba ipo meets your standards of transparency? >> i think to the basic question of my standard i think the answer is no. we are evaluating what the s.e.c. share sent us in the last couple of days. i am working on a response right now to it. i think it's basic and simple to say we will have a lot more questions for the s.e.c. we are trying to protect investors. and these new entities kind of a shell company, these variable interest entities are i think problematic unless there is some

degree of more substantial disclosure, more information so that investor can be protected. so i'm glad that the s.e.c. has responded to us and we are evaluating that response but we will have more questions because i think it warrants these questions when you consider the impact of these ipos, the dollar amounts and the number of americans that are impacted by them. >> with alibaba is your specific concern that the shareholders won't have an ownership in the operating company but an ownership in a kind of shell corporation that i believe is headquartered in the cayman islands or somewhere? >> that is one of the basic concerns. i was looking at our letter here. the basic way i described it in the letter were these were shell companies that give investors contractual claims to a firm's profits but don't legally grant them ownership of the company. that is among the concerns we

have. i think this is a basic question of investor protection disclosure, a kind of basic information that someone would want especially in a complex transaction. >> let me turn you, if i might, to another topic. you are also on the foreign relations committee. the president has asked for authority or believes he has authority to train and equip syrian rebels. it is bound to be a controversial move. where do you stand on it? does the president have the authority he needs to do it? >> i think he has the authority to do what he has done to date in terms of the air strikes and pursuit of what is a terrorist group which happens to be an army and thirdly happens to be in my judgment a criminal organization. on the basic question of what we will vote on this week i will vote yes when it comes to the question of training and equipping the authority for that thrks training and equipping of the well vetted elements of the

syrian opposition. this is obviously not all of the opposition are so-called rebels. this will have to be the well-vetted elements. some of that vetting is taking place already and has to continue. i think it is the right decision for our national security. >> i promised i would get you back to the economy. here it goes. how am i doing? the economy, how are we doing on the economy? grade it from a to f where we are right now six years after the financial crisis? >> i don't think it is an a or an f, somewhere in between for sure and probably better than a c. somewhere around b. here is the concern even though we have been getting more than 200,000 jobs created month after month there is the concern about takes dips and the concern about wages and that is why we are concerned or vigilant about the feds' efforts to focus on wages. long term the trends haven't been great.

short term we have had good job numbers. this economy is still in my judgment being weighted down by the uncertainty of washington as well as unfinished business that we are not getting done here. >> very quickly will your party, the democratic party hold the senate? >> yes. by a fingernail. >> by a fingernail. thank you for being with us today. >> one of the major health concerns is ebola. and the president sending some u.s. troops over into africa to help with logistics and other things over there. ebola by no means the only major global health concern. that's right. health care sweeping the head lines. we have news on alzheimer's, cancer and the respiratory virus spreading through the u.s. all of that after the break. right here. with a control pad that can read your handwriting, a wide-screen multimedia center, and a head-up display for enhanced driver focus.

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check out realty trust, the stock soaring on news it will be coming to about $14.20 a share at current prices. up by 30%. washington prime down by 7% on the trade. as part of the deal simon property agreed to buy two properties for about $1.1 billion in cash. simon property shares up by 1.25%. tyler on the day's trade. so much of the economic

epicenter this week is right here in washington with the feds two-day meeting. think back a year ago to what we were facing in the american economy. the possibility and the reality, then, of a government shutdown, a debt ceiling debate. things are different. who better to talk about the state of the economy than the chairman of the house security services committee. let's talk about where we were a year ago when we had concerns over continuing resolution, concerns over the debt ceiling. do we have anything to worry about as the american public on those two fronts this time this year? >> well, i don't believe so. there will be a continuing resolution that will be on the floor i believe day after tomorrow. right now i expect that to pass. we will have to, again, deal with what we all know is an unsustainable spending trajectory and unsustainable

levels of debt. i have a laptop that's a wash of reports from the congressional budget office and government accountability office saying spending trajectory is unsustainable. it is harming and hampering economic growth today. >> what is different this year that causes us not to be in that sort of log jam situation that we found ourselves in last year? is it merely that there is an election six weeks from now and nobody wants to go into an election ticking off the american public? >> i think i am vaguely aware of an election coming up in the first week of november so in reality i am sure that plays some role in it. i'm not sure that last episode worked out too well for anybody. so again it is not something that we are concerned about today but we still have an economy that is limping along at about 1.5% to 2% gdp growth.

there is nothing that the fed can do about it until we handle what we acknowledge to be the highest single corporate tax rate and until we deal with the on slot of the regulatory burden and morph from the rule of law to the discretion of regulators. sheer weight, volume, complexity load of red tape a lot emminating from obamacare and dodd-frank hampering our economic growth to date. >> let's talk about an issue that i know is of great concern and passion of yours and that is the refunding of the export/import bank. there is apparently an agreement, the speaker says, to extend some funding for a temporary period, a couple of months. tell us the latest on that and then what happens after that when that funding ends after the election what do you intend to do?

>> the export/import bank is a federal agency that probably only a few have heard of. what i expect to happen is that the agency will be reauthorized for a short term period up until june i expect it to be on the floor again on thursday. i believe it will be supported by both houses. i believe the president will sign it into law. there are a lot of very legitimate issues here. we have an unsustainable spending trajectory and unsustainable levels of debt. we continue to put more and more risk on the federal balance sheet. the export/import bank. our economy is not going to rise and fall on that. almost 99% of all u.s. exports do not use this government agency but arguably for every job it helps sustain in exports it helps domestically. if export/import bank used gap fair value accounting that practically every bank and business in america has to use

it is losing money for the taxpayer and it is about political lending and who you know in washington and not how hard you work. >> and plitcally connected companies are the ones that receive most of it. >> there is a reason they call it the bank of boeing. ge and caterpillar all great american companies that could finance the exports themselves are taking this risk and putting it on the taxpayer ballot sheet and then idea logical lending. there is a policy, subsahara africa policy. it is time to let the market work. just because we have done something in the past doesn't mean we should continue to do it going forward. my hope is that we help our exporters by fundamentally reforming our tax code which is the major burden they have in competition, lowering our liability exposure and our

bureaucratic rule making particularly in the environmental remediation area. so there are ways we can level the playing field that doesn't put something on the taxpayer balance sheet. that is what i want to work on. i think it is time to exit. >> on the export-import bank is presumably a short-term extension of authorization with real debate coming in the next congress as so haen other issues you identified on taxes. you will be busy next year. >> we will be. >> thank you very much. thank you very much. apple getting beaten down today. why there may be a major delay in the launch of the new iphone 6 over there in china. president obama expanding the fight against ebola.

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welcome back to "power lunch." we are watching shares of nektar. for adult patients with chronic noncancer pain. as for astrozenica just down. nektar certainly a stock to watch. metal markets are closing. copper is the highlight up

considerably trading by better than 2.5% as the dollar weakened against the euro we had a big rally in the copper market. apple share taking a hit. reports in the chinese newspaper that the iphone 6 may not arrive in china until 2015. ups hiring 95,000 temporary workers for the holiday season. the parcel delivery giant trying to avoid a repeat of last year when it was caught offguard. united airlines offering flight attendants severance packages if they voluntarily leave the company. we told you president obama announcing a major move to fight the spread of the ebola virus which has been gripping west africa. that is not the only health concern out there. meg is with me with more on that. you have a lot on your plate today. >> a lot of health care headlines. we start with the ebola

outbreak. almost 5,000 cases. those numbers may be under estimated and expected to rise unless major efforts are taken. today the u.s. is stepping up response. president obama will announce a plan to send up to 3,000 military personnel to the outbreak area and build 17 treatment centers with 100 beds. u.s. officials say ebola poses little risk here that the administration considered the outbreak a national security priority. next intero virus d 68 sweeping through the u.s. a respiratory infection hitting kids. it is generally very rare and no vaccines or specific treatments. what can you do to protect your kids? health officials say best policies are the same as trying to avoid a cold. the cdc says we are currently in the middle of the season and infections are likely to decline

later in the fall. there is news on alzheimer's, a disease that effects more than 5 million americans. eli lilly partnered. lilly will pay up to $500 million to co develop the drug. from an experimental drug to one on the market there is news on the alzheimer's drug. new york attorney general filed a lawsuit saying the plan to stop making the drug before it loses patent protection and switch patients to longer laster formula is manipulative and unethical and will keep patients on higher price of the drug when generics are available. and finally progress report on our fight against cancer. the american association of cancer research says americans are more likely to survive

cancer diagnosis today than any other time in history. there are almost 14.5 million cancer survivors alive in the u.s. that is about 4% of the population. it warns more funding is needed. more than half of cancers are diagnosed in people age 65 and older. let's check the bond market today as the fed kicks off a two-day meeting. the interest rate had been moving down a little bit. you can see right now it is holding at 2.574%. as we mentioned the fed is kicking off the two-day meeting on interest rates 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.

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the dow is near session highs right now. you have the energy stocks, oil prices are rebounding. some citing expectations that the fed will not be as hawkish as expected when they conclude their two-day policy meeting tomorrow. you have home depot, united health group, cisco systems and general electric. the oil prices helping for right now some of the big oil stocks. perfect segue because stocks are up today partly on speculation about what the fed will say in terms of its statement and what they will do on the interest rate fund. steve leesman is here. >> senior executive polling analyst. we do this every night on the first day of the two-day fed meeting. we look at the rate hikes on the market. 37 people responded. let's look at what they say

about the first-rate hike. mid 2015 but nudged it earlier. it is june 2015 rather than july. remember the prior survey was august. how about when the balance sheet will start to decline. december 2015 is the average month. and then come here and we show you the outlook for when the fed will reach the terminating rates. fourth quarter of 2017 and now the third quarter. the same rate of 3.2%. they nudged up a little bit their outlook for fed interest rates. you can see the blue line and green line is the one that is the current survey just a bit higher. ten basis points here. that is not the big gap. i want to show you where the fed is which is what the fed does with its own outlook for interest rates. the average right now is 1.2% for the federal reserve. and then for the end of 2016

this 2.4% and terminal rate for the fed 375 for our group is 3.2%. how about pesky terms considerable time. 41% thinks it goes away as soon as tomorrow. we have had bank of america, isi. goldman sachs says it is not. you see there the majority do not believe it goes away tomorrow but a substantial do think so. stewart hoffman saying the considerable time reference statement should be dropped and replaced with something like current and anticipated mandate at the october meeting bh the end of qe is announced. hoping to keep markets and the economy stable. we had a little bit lack of

stability today as we went back and forth on the issue of considerable time. are you able to hear anything? you are not too far from the fed over there. >> i have my ears trained i am here with a couple of fed watchers and listeners. we will talk about what the fed might do. folks, welcome. we just saw that the dow is at a record high. have investors decided the fed can't hurt them anymore? >> so much talk about how the fed might take out this sentence about keeping rates low. there has been a rethink of that correctly so in my view. i think the fed being conservative and dovish would be reluctant to take that sentence out. they might add qualifiers. given that the economy continues to proceed as they expect there isn't a compelling reason to take that sentence out right now. >> what we know is that interest rates are likely to go up and that the federal reserve is going to stop buying bonds at

the tonnage that they have been doing. the markets seem to have diskounlted all of that. >> seems they have been doing a good job without having to do actually that much at all. as the previous survey that you guys mentioned showed investors are moving forward the time of liftoff. investor put out a note today that show that 40% of investors last year were worried about the the heightening. there has been movement in the marks to understand the fed is focused on flexibility. >> dow at a record high. remember the first press conference that chair yellin had where she, reporters could connect the dots. they saw after the tapering ends it will be six months. is she going to slip tomorrow or did she learn her lesson back then? there is the dow on a record high. it is a banana peel. >> she did learn a lesson.

give a date or a number but not in the same sentence. she is very careful. doesn't like to get ahead of the committee. if there is going to be a surprise and maybe in a hawkish direction. they may not like qualifiers that she injects in the discussion with reporters afterwards. >> you say you think the odds of dropping the nuance words have decreased in recent days? >> i think the market is moving in that direction, as well. >> i think the important words to watch are not just considerable time but significant under zutalization in the labor market. i think that is an important key of how the fed views the economy. >> that is the language that has been in there about -- >> in the last statement whether or not they change it or whether or not there is significant labor market. >> words to watch. >> look for the numbers that are

in their 2017 forecast. do they have inflation moving up to 2% and above? where do they see fed fund rates ending the year? those are potentially market moving events. >> i think we will see you tomorrow at the press conference. >> you will. thanks very much. >> sue, back to you. wal-mart's chief spokesman resigning after being caught lying on his resume. >> we all know someone that has done it, fudged on the resume. what if you thought you graduated from college but found out you were a few credits shy. it happens more than you think. you can join the conversation. would you have forced wal-mart's spokesman out? we will have all of that when "power lunch" returns. ♪ time and sales data. split-second stats.

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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. welcome back to "power lunch." we want to call your attention to what is happening yt dow

jones industrial average. we are just off session highs and record highs. 17,167 the new record high for the dow. we will keep an eye on that through the course of the afternoon. on the stocks front check out what is happening with con way. the stock is dropping price target $3 to $54 a share. the move comes as teamsteres announce drivers voted to unionize and believes there could be further pressure. the stock is nearly up 30% year to date. thank you very much. wal-mart's chief spokesman resigning after being caught lying on his resume. very interesting story. >> it is an interesting story, certainly one up for debate. wal-mart's chief spokesman leaving wal-mart after a background check found out he had not received his bachelor's degree from the university of delaware. the blunder discovered because

he was up for a promotion. he told cnbc he spent four years at the school and walked in the graduation ceremony. after taking a job in new york found out he was a few credits short of graduating. never looked back. wal-mart said he couldn't advance because of the discrepancy. tovarsays he is looking into completing that degree. this is hardly the first time that we have seen a high profile person misrepresent themselves on a resume. former yahoo ceo scott thompson ousted after it was determined he received one instead of two degrees. and in 2001 after just five days as head coach of notre dame's football team george o'leary resigned. i think the moral of the story, don't lie on your resume.

if you are not sure about your college degree call your registrar's office. >> absolutely. thank you very much. let's bring in harvard business school professor bill george, viewers you can weigh in, go to cnbc.com/vote. would you have forced wal-mart spokesman out? yes he had to go or no it wasn't so bad. good to see you, bill. welcome back. mr. tovar said he didn't think he needed the degree. it was a degree in art. he basically said he never looked back. would you have fired him? what do you think? >> well, wal-mart is the most visible company in the united states, one of the most visible in the world, the largest company by revenues. i think they depend entirely on a person of tovar's position to tell the truth because that is the credibility of the company

with the media and general public all of whom are their customers. he seems like a high caliber guy. why do people do this? >> that was going to be my next question. he's obviously a well-accomplished gentleman. he was well-liked at wal-mart. he said that he is parting on very good terms with wal-mart. i don't know why people would do that. maybe they are insecure. you tell me. do you think it is insecurity? what do you think? >> well, i think it is insecurity about having a resume which will hold up when you are getting jobs and going through your life and your career. but the other thing is they think they won't get caught. all you do is call and say did the person graduate. a lot of search firms do that before they hire someone. this is very formal. i think the question is why do people feel so much pressure today to have a good looking

resume? i think it is because they are looking for that external validation that a degree gives you. thinking maybe people won't think as much of me if i don't have a degree. obviously he should have finished up the degree having gone as far as he did. i think lying about it a lot of people think they won't get caught and 20 years goes by and no one caught me yet so i can get away with it. not realizing now i have the big lie and if i correct it then i have to expose myself. i think it is sad. i think what young people need just assume everything you say and everything you write is going to be either on cnbc tomorrow or on the front page of the "new york times" verbatum. if you take that approach that may clarify your mind. >> isn't it a fact that the job market is so competitive right now and especially those positions as you work in a corporation and try and work your way up you want to stay and do better.

and if you don't have the degree you don't look as good as the candidate right next to you. >> well, that's true. i think you have to express who you are as a person. i think way too many people worry about where they went to school and what degrees they have and try to build an impressive resume rather than gaining their own self awareness. the other thing that worries me a lot is a lot of people don't think statements they made a few years ago will haunt them or maybe a picture on facebook when they had too much to drink. i think people need to think about it. we live in a public world and we need to get ready for that, that our actions count a lot more than what we put on a piece of paper. we should be known for who we are and not for our resume. >> thank you so much. always great to see you. let's lock in the viewer vote. would you have forced wal-mart spokesman out 56% said he had to

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. dick's sporting goods lower on news that two of its executives and executive vp of global merchandising are retiring. sears borrowing $400 million from chief executive officer to give it an infusion of cash. the loan comes due on december 31 with the possibility of extending it to february 28. we will be back with a record breaking day on the dow jones industrial average. you know what my business philosophy is, reynolds?

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for the dow jones industrial average. the s&p 500 is up 17. the nasdaq bouncing back with a move to the upside up about 32 points on the day. part of the reason is the energy stocks. brent crude on the upside. and the copper market with the u.s. dollar moving to lows. we have almost a 3% gain in the copper market today. interest rates are moving a little bit to the down side. that is pressuring the dollar today.

that is influencing a lot of the commodities. >> the dow and investors have priced in the possibilities of this fed two-day meeting the results of which we will get tomorrow. that will do it for this eidation of "power lunch." >> "street signs" begins right now. and welcome to "street signs" everybody where we are exactly 24 hours away from this week's biggest event on wall street, the fed statement. >> is the stock market jumping the gun. let's get to steve. question for you, sir. is this less about the fed and what they might take out as what they might leave in? >> i think there are two