biggest point gain since 1994 closing higher by 7% that's after prime minister abe leaves the door open to further easing. >> we're on course for another up day on wall street with the s&p and nasdaq out of correction. meanwhile the world bank warns the fed it could cause panic and turmoil with a september rate hike. >> apple is expected to unveil a trio of products in san francisco. the apple tv could be the star of the show as they make a bid to take over your living room. >> we have a plan, jean claude juncker says it's time for concerted action by the eu on the migrant crisis saying the european union is not in a good state. >> now is not the time to take flight. it is the time for both determined concerted action by the european union by it's member states and by it's institutions.

>> good morning, it is 10:00 a.m. here in london and 5:00 a.m. on the east coast. we're expected to set up for a pretty positive day. the nasdaq seen higher by 1.3%. the upside for the s&p 500 and the dow jones expected to open higher by a little bit more than 1% and that follows a strong close in yesterday's trading session. u.s. market hearsay the second best day of the year. the dow was up nearly 400 points. it's now only 25 points away from exiting correction and the other two markets have already exited correction. why are we seeing all of that buying all of a sudden? well there's maybe more stabilization efforts coming from the chinese government. we have good trade data coming out of germany yesterday and maybe more and more people are getting used to the fact that the fed hike will come sooner rather than later. that's the picture we're looking

at. a lot of green here as well. 1.73%. some of the auto makers are doing well, bmw and diamler that suffered as far as their exposure to china. ftse 100 up by 1.7%. the cac 40 in paris up by more than 2%. >> well, this global risk rally really got off tie strong start in the asian session and the star of the show was the nikkei 225 up nearly 8% closeing at session highs and this was the largest percentage gain we've seen since 2008. some increased sentiment boosted by lines that the japanese could be looking at increased fiscal support. so really lifting the session there and if we can take a look at how the dollar yen faired the dollar up about .5% as also we saw the risk appetite moving people out of the yen. for more on the asian trading day let's get out to sri in

singapo singapore. >> it was a monster rally at the close. the biggest percentage gain since late october 2008. we could fall tomorrow and we could give up some ground. having said all that, valuations are quite compelling. they're not cheap but they're not inexpensive either. relatively inexpensive compared to the european and u.s. peers. we did see structural momentum coming out of prime minister abe in terms of his comments. he thinks that it's in the final stages there and finalization could be imminent and he talked about corporate tax cuts and they still have more work to do. similar story on the policy

support front. more expected in beijing. which is why we saw them spill over into hong kong as well. we've seen these swings in the markets before. can they be sustained or is this a one hit wonder? we have slowing china still. tomorrow we'll have the inflation numbers. that should give us insight into the slow down and whether it's worsening or stabilizing so that's the next big test of the china markets and i think that's going to be the focus of tomorrow in terms of the trading lead and the direction that we will get. it's going to come back to cha in a. back to you. >> thank you so much for that. so what impact will a big slow down in china have on the world's economy? jeff is at the world economic forum and sent us this report. >> in spite of the better tone for asian markets in the last 48

hours here at the world economic forum there is some nervousness about the growth that china is hikely to achieve this year. the data suggests there's weakness in global demand for chinese products which explains why we have seen from the finance ministry fresh announcements of fiscal stimulus and there's an expectation here on the ground that we will see some further monetary stimulus from the people's bank of china within coming days. having said all that, there are concerns particularly among world bank economists that fwroe growth globally is weak. >> the key challenge is to continue this rebalancing of the

economy. the credit driven economy builds up vulnerabilities and it's already quite high so easing out of that continues to ease out of that is the most important thing to watch. >> a good place to look if you want to find out what current conditions are like here for businesses is the commodities space and i had the chance to speak with oleg that runs the business that sells other commodities to the chinese economy and while clearly the picture is weak overall and one of overcapacity for the industry, he doesn't see a dramatic slow down for china any time soon. >> there is no foundation. maybe you can see it better from new york or london but not from

china for sure. and as i said, we have a quite stable situation here. in the debt market and this may happen for some political reason or something else. but for the moment we can't see any problem in the future. >> so volatility in chinese equity markets continues although there's a tail wind around recent announcements in stimulus. the question many investors will have to ask themselves though is are we seeing a debt cap bounce here? what more will the chinese government give in terms of policies to stabilize this current state of uncertainty. this is jeff cutmore at the world economic forum. >> let's bring in the chief international economist at ing commercial banking. >> you just heard him talking about the foppics and i'm

wondering given that we saw the chinese finance ministry today should investors take comfort in this given that it's moving away from a pure alliance on the fiscal side. >> it comes through quickly and that's the nice thing and if you're running the country and you want quick injection inactivity and add a little bit of stability back to markets they can see this coming through rapidly this is quite a good way to do it. the monetary policy is always a long policy move and does take awhile to have any real impact. >> so beijing will insist on both fronts that they'll do whatever it takes to contain this slow down but the data has been to the down side disappointing earlier this weeks and we have alibaba giving a picture of the private sector. so does this suggest it's having more of an impact than some analysts suggest? >> can central banks change the nature of an economy?

the reality is at best they can take the rough edges off whatever is happening to a business cycle so they can do quite a lot to stop this from turning into a route so that's helpful but can they stop the chinese economy from slowing? that's highly unlikely. >> maybe we have been too harsh with china and the pboc and what the government has been doing over the past couple of months or so but don't these things need to work themselves out? aren't we too strict with them in saying you know what, your pbo stimulus didn't work the next day or the next week either while sometimes it does take a few years and we still don't know whether our qe here works. >> there's quite a lot of evidence to suggest that qe doesn't work and may do harm. if you lower yields enough you'll encourage people to buy more financial assets and stop spending. they have pension revenue targets in mind so there's good

arguments for suggesting that these things don't particularly work. >> do you think though that despite of everything we just discussed the pboc will still step up their game and add more stimulus whether that's another benchmark rate cut or rrr cut. do you think that because they're feeling the pressure from the market they want to do more even if they maybe realized it may not actually work? >> it's almost inevitable. they need to encourage investor confidence here. >> but when you talk about the equities side you could make the argument that they're just mettling too much in some ways and when we see the late day moves i think most people are under the assumption that it's being driven by state purchases and state buying going into the market so you have to wonder this can't last forever, right? and once it's removed where do we go from there? >> if you think about what the chinese are trying to do, in particular just taking things back a bit it's very very difficult to imagine that they

could undertake something like this and start to open up the capital market without there being some push back from the market. now do you try to squeeze all of that out or accept this is an inevitable part of what they're trying to do to turn themselves into a marketplace economy? i think it's an inevidentability and markets overreact to every little event that happens. >> stick with us. we'll get more reaction coming later in the show. now let's take a look at other top stories today and apple is holding a product event in san francisco. that's today at 1:00 p.m. eastern time. the company is widely expected to unveil new iphones, the 6s and 6s plus which will have a 12 mega pixel camera and force touch figure on the apple watch. they'll also show off the apple tv box and it may unveil a new ipad mini and larger screen ipad

pro. apple shares did rise 4.8% on tuesday in line with the broader market moves to the upside. we're looking at a 10% fall for apple. do you think this big product launch will be enough to win back investors? if you want to join the conversation get in touch with us by e-mail worldwide@cnbc.com. and our personal handles on the bottom of the screen. >> i've had one viewer tweet in and he said i like apple products but more importantly i watch cnbc through apple tv. we'll always take that right. >> it will be interesting to see if they do give a redesigned apple tv and some speculation they could be getting more into gaming. >> but do they want to take on the big gamers? microsoft, sony? >> let's give you a rundown of what to watch this trading day. jolts is out at 10:00 a.m. eastern. this is another indicator of the

health of the u.s. jobs market. barns and mobile and hovnanian and box and krispy kreme are out after the close. we'll be back in two.

i wish i was in school. [overlapping chatter] if only i had a math test today. i'll stay after class. i'll clean the chalkboard. i wish i was in school.

man: school ends, but free lunches for your kids don't have to. find your local feeding america food bank for help. welcome back. the dow called to open 160 points higher.

the nikkei in japan posting the biggest point gain since 1994 and all eyes on apple as it gears up for its latest product event. u.s. futures looking positive this morning. we're expecting a rise of roughly 150 points. this is after the dow yesterday was up by 2.4%. the s&p was up by 2.5%. the nasdaq higher by 2.7. this is all happening because people are still coming back from their holidays but as you can see the has tnasdaq is up b points. the s&p 500 expected to open with a small gain of 20 points as well. the world bank's chief economist warned the fed against raising rates in september telling the financial times the sennal bank risks triggering panic and turmoil in emerging markets. let's get back to the chief international economists at ing commercial banking. should they or should they not

hike in september? >> they should have hiked a year ago when the economy was strong and would have supported it. now the data is neither here nor there. if they had raised a year ago they would have gone through the slow down and could have left rates at 25 basis points and now we wouldn't been having that discussion. should they go now or not, that's for them to say but i would have done it a year ago. >> so it will either by september, october, what about october? there's no press conference then but janet yellen has said every meeting is live. >> absolutely. why not. and why not suggest they might hold a press conference in october. that would really send people rushing to the idea. >> they could do that. >> i think they'll have to do one if they were to move in october anyway. they would say there's now a press conference in 45 minutes so the press would have been told. they have to get there.

i would just throw it open. they don't know where data is going to go but there's all sorts of other issues to do with liquidity and end of year and you get a feeling that they really want to get on with this. >> they want to get on with it. that raises the issue of they might as well just go in september. join the one and done camp. it's going to be a long way off whether they hike again. i'm wondering if the rate debate here is the bigger loss of credibility within the fed. we've seen them time and time again and should they take action in september. >> the latest message that we got from the article was they don't know what to do. september it's awkward. if you take the view of the imf and the world bank, you don't want to upset financial markets right now. you're probably going to do that anyway but september isn't priced in. october just about you could probably get away with that without causing too much upset and that might be the better choice. >> and we've seen some debate over how concerned they are are

about the volatility in chinese markets but given that they're so domestically focused with the inflation picture at the moment do you think they're less concerned about china than some may think? >> i think they're concerned in general. rather more than in the past. i think they're beginning to wake up to the fact that what they do does have a broader impact across the rest of the world and they don't want to mess that up. >> and china exporting deflation. that could be the real issue for them. >> correct. >> thank you for that. let's take another look at how the oil prices are fairing. we have seen them flirting barely in flatter toir but they're slightly higher at the moment and brent crude up about .4%. he says an increasing consumption the service sector's portion of the economy demonstrates that policy is pushing forward changes. so once again reiterated that we're seeing an increase in

consumption and the service sector is gaining strength. they're hoping for the big rebalancing to continue. have we really seen signs of that? not so much over the last couple of months. >> in the last 30 minutes ryanair ceo says he's considering a share buy back with the proceeds of the sell. shares were soaring at top of the stoxx 600 after it raised it's full year profit outlook by 25%. this was thanks to lower oil prices and strong pound and poor weather in northern europe. >> united continentals ceo has stepped down effective immediately. he's been replaced by a board member. his departure comes amid probes in the relation between and port authority in new york and new jersey. authorities are investigate wlg the former port authority chairman demanded favorable treatment or personal favors from united. the airline stock fell 1% in after hours trade.

in germany it's up by 0.9%. >> a german court rejected the request for an injunction which could have prevented a second day of pilot strikes. around 1,000 flights are expected to be cancelled just today. shares in the airline are following the rest of europe higher. although they have dipped into negative territory. almost half of long haul flights were stopped yesterday in the 13th strike in 18 months amid on going clashes over pay. it cost around 100 million euros so far this year. >> rocket engine maker is offering $2 billion for united launchalliance. united launch alliance was made through a joint venture between lockheed martin and boeing ten years ago. >> democratic presidential front runner hillary clinton apologized for using a private e-mail server during her time as secretary of state. let's get to tracie potts

joining us live from washington. we were just talking about this yesterday, whether or not hillary clinton would have to apologize given the polls we have seen. do you think this apology has come in time to boost her in the polls? >> well it depends on who you ask. her supporters, many of them say this is a non-issue. she's apologized before. she is doing it online on facebook and twitter overnight releasing a statement saying that she not only apologizes and is sorry for what she did but also defending herself to some degree saying that she used two different e-mail accounts -- or used one when she should have used two. but she also says that it was allowed. that she didn't do anything wrong and she didn't break policy and that she insists again that she did not exchange any information that at the time was classified. some of that information that she exchanged on her personal

account has now been classified. so she's also saying well i didn't really do anything wrong but i should have been clearer. she also makes it clearer that she is going to be testifying next month before the benghazi committee. remember the aid that installed that personal server in her basement refused to testify. other aids have testified and she is making it clear that she is going to continue to answer questions. in fact, she says here in our post, this is a complex story and that she could have been clearer about it. she's going to be here in washington on another topic speaking about the iran deal. she has thrown her support to that deal. donald trump and ted cruz will be here separately today in a rally against that deal. >> thank you so much for that. jeb bush will propose broad tax cuts if he's elected president next year. the president candidate will outline the plan in a speech in north carolina later.

it would cut the corporate tax rate and reduce the number of individual tax brackets from 7 to 3. bush will be on squawk box. that is a first on cnbc interview today at 7:40 a.m. eastern time. >> let's change gears. queen elizabeth ii will become britain's longest reigning monarch at 17:30 today. 23,226 days 16 hours. beating a record set by queen victoria. she'll spend the day in scotland opening a new railway. she never takes breaks. >> no early retirement there. >> no not for a monarch. >> head to cnbc.com. >> crowds waiting to see the queen as she boards a steam train to go for the ceremony.

the dow jones is higher by 162 points. the nasdaq at 51 points.

>> toyota uses the glitz and gl glamor of las vegas and says it will add an additional 10% to its fuel economy rating. it could average 55 miles per gallon. that's up from 50 miles from the 2015 model. it has more passenger room and is longer, wider and lower than the outgoing prius. shares up 6.3% but that was with huge gains in the broader nikkei 225. it has been struggling down 10%. >> meantime general motors is delaying the launch of the chevy volt. instead it will ship to just a hand full of states. sales have dropped as gas prices fall. the national average is at $2.39 a gallon.

a dollar lower than a year ago. gm in german trade is up by 1.1%. >> find out what's cooking in the apple's kitchen. we highlight the latest event. that's next.

welcome to worldwide exchange. i'm carolyn roth. >> these are your headlines from around the world. >> japan's nikkei closing higher by more than 7%. that's after prime minister abe leaves the door open to further easing. >> and the rally is set to continue on wall street with the s&p and nasdaq now out of correction. meanwhile the world bank warns the fed it could cause panic and turmoil with a september rate hike. >> apple is expected to unveil a trio of products at an event in san francisco. the apple tv could be the start of the show as the tech giant makes a bid to take over your living room. >> bad news from the tax man. yahoo! could make a multibillion dollar fill from the irs if it presses ahead with the alibaba spin off. it is 5:30 on the east coast

and 10:30 here in london. the s&p 500 is expected to open higher by 17 points or so. the dow jones expected to add 160 points after the 400 point dpan session. we saw a pretty awful week last week to continue today given that we have seen a very strong hand over from european markets. well it's the cyclicals on a day like this when risk appetite is rampant. the autos and industrial sector moving us high. the cac 40 up by 2.24%. how do you make money in markets like these? this is what investors have been telling us. >> i think if you're going to look in the china market, the on shore market even though we had

quite a route in terms of pricing, you can still argue that it's overvalued. if there is value to be had it's more in the offshore market. say the h shares market where we're seeing lower pes. >> coming into the year we were overweight china and it helped us last year and we did start getting more underweight as we progressed through the year just because of evaluations. as we see where we're at today we're going to be more constructive into getting back into the names that have been hit by the sell off. >> but now in our terms a 50% discount of fair value which is falling and 90% intrinsic value that's falling. the market is actually saying things are going to get so bad from here and that's all you can look at. >> asia markets roaring ahead. the nikkei up by 7.7%.

this is the biggest percentage gain since october '08. you know what, we're off some 17% from the august highs but why didn't we see those gains from the nikkei 225? in part because prime minister abe hinted at a potential cut from the corporate tax rates. >> and we're getting comments out trying to reassure investors that china's economy is on a controlled downward path and all the risks of government debt are under control because there's still serious concerns about levels of debt. >> i should say that he also commented that overall stability in china's economic performance

is there despite the on going concerns. more about short-term instability is what he seems to suggest now. meanwhile, our top story of the day, apple is holding a product event at 1:00 p.m. eastern time. the company is expected to unveil new iphones. the 6s and 6s plus which will have a 12 megapixel camera and processor and touch feature on the apple watch. rumors say it may unveil a new ipad mini. apple shares rose about 2.8% with broader market moves to the upside but we're seeing apple continue it's strength up about 3% in frankfurt as well.

>> do you think that it will be enough to reensure investors since the stock has been down quite significantly over the last three months? >> yeah, it's been a major correction for apple but this event which has become a staple in their market and pr strategy is a great way for them to step back and reframe the context and take a long-term approach a few exciting things will come out of it. the iphone is 52% of their revenue. they'll talk about the upgraded feature and upgrade in the camera and operating system and things like that. the question of course is what is the saturation point and how do they lead to turmoil in their core base and there's people willing to switch out and upgrade and generate more sales. the other big piece as you

mentioned in terms of their business just a little bit under 5% of the revenue right now is this other category of which the tv is in so it's a small part of their business today but it's one that's expected to be the headline grabber from this event because it starts to set up conversations around disruption which apple has done before and apple is coming in as the underdog. >> they are new and flashier particularly with the tv and given that it's more of a redesign than a new product i wonder if it's enough to convince customers to switch over or perhaps buy a new product. >> there's faster speed and new memory. what's the willingness to pay for most people to upgrade to

having that extra memory so that you can store more consent on the phone and do it with a faster speed. people are willing to do that but the questions for people are is there a saturation point that's coming about and that's what the street was thinking or seeing after the last earnings call which is one of the factors that went into the correction in the past few months. >> apple tv is a small part of their business. less than 5% but there's talk about them going into gaming. do they want to take on the big players like sony and microsoft and also is apple tv going to be a game changer until we see their content streaming. >> you're right. it's less than 5% of the

business. there's players that own the market but where they're a little bit different is they're coming in with a different business model than anything we have seen before. where it's a heavily community based model. so the biggest category and most popular by far in the ap store and their operating system is gaming. a lot of casual gamers that go for app based games. so with that engagement in place they really have a built in engine if you will between the developers that build the game and the users that engage with them and with apple tv the idea is taking that already very successful on their iphone platform and if there's a way to bring that into the living room by translating it with the apple tv. that's the angle they're going in and they stand a good chance to sweep up that market of the

low cost casual gamers that they don't go after right now. that's going to be the interesting play. >> thank you for your time this morning. appreciate you getting up early for us. >> macy's plans to close stores next year. the move comes as more consumers are shopping online. courtney reagan has the full report. >> an interesting announcement to kick off the week. macy's is adding to its shop-in-shop partnerships teaming up with best buy. they'll test licensed consumer electronics departments in ten macy's stores. the shops will be staffed by best buy employees and cover about 300 square feet. but shoppers will find items like smartphones, tablets and smart watches and other smaller audio devices and accessories in those shop-in shops.

either would comment further than the press release that was issued on the partnership but macy's has had success with other partnerships including pinnish line. macy's also purchased cosmetics retailer blue mercury. it will announce further integration in the future which would include blue mercury shops within macy's stores. separately it will close 35 to 40 underperforming stores in early 2016 but they represent 1% of total sales. macy's has 770 stores in total and it's all part of the process. it will announce the locations of the closing stores at a future date. macy's is also in the process of opening six new backstage stores. it's the experiment into the world of off priced or outlet retail for macy's. back to you. >> a u.s. judge ruled costco sold counterfeit tiffany

engagement rings. the judge rejected the claims the trademark was invalid. tiffany can now take costco to a jury trial to determine damages. let's have a look at how they're doing in german trade. costco up by 2%. it wasn't the right blue box they were selling. >> still to come on the show, marissa mayer could come under pressure as u.s. authorities refuse to sign off on the tax free spin off of the alibaba stake. >> queen elizabeth ii opens a new train line in scotland. she will board a steam train and she heads to the ceremony. hello. oh. yes, hi. want to survive... ...a crazy busy day? start with a positive attitude... great. thanks.

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welcome back. let's look at netflix stocks. nasdaq managed to fall for the 7th straight day and this was after the money manager wrote to subscribers that while subscriber growth is strong for netflix there's still concerns that it's not generating positive cash flow. so the stock was down on the day but it's important to keep the move into perspective.

netflix has been a darling of the tech world. up 95% so far this year. it will really boost it's expansion across asia. >> absolutely. they have been hammered as a result of the media sell off and the china worries. yahoo!'s plan to spin off it's big stake in alibaba just got more cloudy thanks to certain u.s. government agency called the irs. what's going on. >> yahoo! may have to pay taxes on what it plans to get from alibaba. a key part of the turn around strategy. the company says the irs denied it's request for a private letter ruling on whether the transaction would be considered tax free. investors have closely followed yahoo!'s plans seeing a spin off as a way to unlock value and shareholders believe yahoo! and alibaba would be worth more separately as long as it's not subject to u.s. tax incurred by

selling the shares. yahoo! announced plans to spin off the stake into a public company along with yahoo! small business which provides web domain names and local marketing but the value has dropped by nearly half since alibaba share versus fallen 41% since the announcement and any hit in the plan could put more pressure on yahoo!'s ceo whose turn around efforts haven't lead to many results. the company is struggling to improve it's core online ad business. it's unlikely the spin off will take place and they'll consider a spin off of its core business for a sale of the entire company

but he maintains a buy rating on the stock. yahoo! fell 50% in after hours. alibaba fell 4% amid the slow down in china's economy. yahoo! is down about 6% while alibaba is off by about 0.7%. back to you. >> as gwe go to break, the dow called to open higher. the nikkei in japan posting the biggest point gain since 1994 and all eyes on apple as it gears up for the latest product event. we'll be back. this is the place. ♪ ♪ their beard salve is made from ♪ ♪ sustainable tea tree oil and kale... you, my friend, recognize when a trend has reached critical mass. yes, when others focus on one thing, you see what's coming next. you see opportunity. that's what a type e* does. and so it begins.

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>> the countdown is underway for apple's big product event due to take off at 1:00 p.m. eastern time. the new iphone 6 and 6 plus are set to be the head line

products. but let's see if we can get a few surprises at the event as well. jennifer you're standing outside of that event and focus has been on the expectations for a redesigned version of the iphone. do you think we could get surprises today as well? >> oh, yes and there's so much as far as the rumor mill goes on some of the things that will be announced. the new iphone 6 s possibly and 6 plus s. the only thing that is really expected to be different is the camera on that phone starting at 16 mega pixels and there's talk about an ipad prowhich is just a bigger ipad and sort of to compete with the microsoft surface. that's one thing talked about a lot. also this new idea of the fourth

generation of apple tv, a box that you can stream all of your programs on and it's expected to have siri voice command where you can ask it questions. that's what the tease line is for this event is hey siri give us a hint. if you ask your iphone that right now she'll give you all kinds of answers but she's not spilling any of the good information of what's going to happen in this building behind us in ray few hours from now. >> thank you for that. let's get back to the markets and show you what u.s. futures look like early on this morning. the dow jones seen higher. 20 points or so and the nasdaq expected to open up by 48 points. so that rally that we saw materializing yesterday is set to continue. let's take a look at yesterday's close then. what a session that was for the u.s. markets. we have the dow finishing up by almost 400 points.

the s&p 500 rising 2.5 and similar percentage gains. >> the dow is just 25 points away. all sectors higher. health care the best performer. >> european markets are looking like this. the minors are doing very well on stabilization out of china. also propped up by the auto makers up by 1.7. >> the nikkei 225 was the star of the show closing up with it's larger percentage gain since 2008. you can see there ending the session up nearly 8% and this comes as we did get some inclination that we could be seeing more support on the fiscal side and there is a lot of anticipation on the way as

well. he does not want to boost exports and does not want a currency war. this is after we saw comments earlier saying that they're looking at more fiscal stimulus. how is that impacting markets today? >> stability is going to be the watch word as we head into that summit later on this month and i think we do need to see some bold action from the pboc to restore confidence in the broader economy although the property sector is improving and we could see them toward the end of the year. so bear that in mind and that's something the commodity markets will be following tomorrow. get inflation data and that will give us some insight as to how deep the slow down is and whether it's worsening. what a spectacular rally. biggest percentage gain since late october 2008 but it's all

about sustainability and longevity of this rally. it was a risk on day. does it have legs really going into the fomc next week and the risk still of a rate hike. that's where we stand, back to you. >> thank you for that. he made a fantastic point. you to talk about the longevity of these gains. one day you're up 7% and the next day you could be down 5 or 6%. it depends on whether we're seeing state buying out of china. >> the big event still being the fed decision next week and we could see volatility. it's amazing the amount of 300 point swings we've seen. it's been 12 sessions in a matter of two weeks. >> and volumes have been a lot, lot lower than in the past. >> coming up the holiday as well. that's it for today's show. thanks for watching. >> next up, squawk box. we'll see you tomorrow. bye bye.

breaking overnight, asian stocks soaring. japan's nikkei jumping nearly 8%. well over a 1,000 point gain. that's the biggest one day gain since the financial crisis in '08. europe in rally mode as well and u.s. equity futures are pointing to a big pop on wall street. elsewhere, united continental replaces it's ceo amid a corruption probe and the battle of the williams sisters. a star studded affair at the u.s. open last night as serena holds off venus to keep her quest for a calendar grand slam alive. it is wednesday, september 9th,

2015 and squawk box begins right now. ♪ good morning, everybody, welcome to squawk box here on cnbc. i'm becky quick with joe concke and andrew ross sorkin. >> this was a scary scene yesterday. they aborted the takeoff. there were 159 passengers and 13 crew members that scrambled to evacuate losing the slides. there were only minor injuries reported. more on this coming up in a little bit. also more of our exciting kick off on the 20th anniversary of squawk box. our special g