good monday morning. welcome to "worldwide exchange." i'm susan li. >> i'm will fred frost. here are your headlines from around the world. u.s. futures point higher as nobel laureate robert schiller says a fed rate hike won't cause a correction despite his view that u.s. stocks are back in a bubble. chinese stocks close deep in the red as industrial production data disappoints sending the schenn jen down over 6%. >> alibaba lashes out at bare

barons. >> early data suggests that apple is already selling out of its iphone 6ss in china with wait times up to four weeks. so i think everything this week is going to come down to the fed, isn't it? >> you think so? fed, fed, fed? >> fed, fed, fed. roger federer lost last night. >> yes, i like that. >> you're a big fan. >> i feel for that fed. >> really? >> i also feel for the other fed. this is going to be a busy week. >> it is a busy week. a lot of people are saying they're probably going to do nothing. their hand has been weakened coming into this. >> i think it has because of global incentive. for me, that it suself won't bee

factor. i think it was very present, they might hold off because of that. i don't think global uncertainty is going to be a factor in their decision. they might not do it this week. >> economists think they're not going to do it this week. there's been so much turmoil built in over the summer. >> 20% chance this week. >> 25, something like that. i think it's higher than that? >> really? >> i'm pretty confident we'll get one this year. either way, if they don't do it this week, i don't think it's because of china. >> i think it is. i think it's the market turmoil that have made them rethink things. >> let's go to the u.s. markets. the implied open, fair value, a gain of 9 points or so for the s&p 500. dow jones, triple digits being

priced into the weekly open. up 105 points. tech heavy nasdaq should see gains of 16 points or so. let's check in on the asian markets. another topsy-turvy session for china markets. some say that might play into the september 16th, 17th fed meeting. nikkei, 225. we had a selloff of 1.5%. we had 9 two day boj monetary policy meeting. we had economists saying they could be indicating to us when they'll expand their balance sheet more. that means more stimulus for japan markets. let's take a look at, yeah, this for you. it was a smaller small caps that played a lot of -- wreaked a lot of havoc during the asia. we're down 7% for shenzhen. i'm not seeing much reaction to the tops si turfy session we saw

in asia. >> that's correct. you might have expected a bit of a correction in line with asia but we haven't got that. we've got .6% of gains for the foo ftse. italy is the lagard. we were up higher than that in the first hour of trade. like half a percent for the likes of germany. we lost a little bit of steam. nonetheless in positive territory. the u.s. dollar softening against the currency at least suggesting that people aren't really expecting that fed rate hike this week. today as you can see not too much movement in the euro, 133 and a little bit further weakness for the dollar against the en, 120.15. let's have a quick look at commodities. oil prices continue to be volatile and today we are down by about 1% for brent.

46.6. >> et cetera -- it's a close call but most economists are expecting the federal reserve to keep the level down. 46% of respondents are expecting a rate hike in september while 9.5% say liftoff will come in october. more than 1/3 say the fed will keep rates where they are until maybe december this year. now there are a greater fear that markets are over valued than say at any time since the dotcom bubble in 2000. that's according to the nobel laureate, robert schiller. he's using the b word. he would not comment on the timing of a massive correction

but said a fed rate hike would not be the trigger because it's pretty much expected. richard kelly, head of global strat ghi, t.d. securities joining us around the london desk. what's your call this week? >> i think they stand back. there have been enough soft data that there's no reason to rush in. >> your forecast is for a hike much later than most. it's not just september or december but quite late next year? >> right. i think ultimately march is where i would put in the fed. i think it's a very flat profile until then. it doesn't mean you can discount all of these meetings. i think they want to keep every meeting live. there will be more disinflationary data and it leaves more of a coin flip every meeting. >> how important is the tone

that janet yellen puts across. >> the tone is crucial. ultimately whether they hike or not is a binary decision. that will anchor where the curve can go, where rates can go off. where the market wants to know if not september, when? is she very equivocal? is she very unequivocal? does she rule out 2015 entirely? does she suggest that october is a reasonable start date depending where they're going? i think they're looking at the tone, the shift in the dots that you want to see what is the fed thinking in terms of how long they see themselves pausing. >> speaking of thinking, we were talking about robert shillor talking about over valuation. he's using the word bubble now once again. would you agree? >> a swear word. >> well, it's one of these things, you can talk about the risk of bubbles but you never know they were there until after they've popped. no one has been able to come up with any conclusive evidence of

what triggers them, where the real thresholds are. i think the big difference in dynamics relative to other cycles is that the fed has actively engaged a policy that told people to buy equities, that told people to move out the risk curve. i think it's reasonable that as the fed starts to hike we may not see the same support within the equity markets that we have in the past because we're going to try and rotate some of that back out in the market. that doesn't mean a bubble but it does mean that i think it's a reasonable bias at least to question whether equities can have the same sort of support as the fed hikes here as they would in the past. >> you're seeing in your notes there's a gulf between the market and the macro. do we need to see a big pickup in macro performance if we're not to see some correction in equity markets? >> i think you want to see less volatility on the international side. you want to see one to two months of data to make sure none of the volatility we've seen is is feeding through significantly

into the u.s. i think from the sense of the fed and timing, it's that question of why do we have to rush it. the general consensus is the fed wanted to make this the most clear rate hike in the history of the world. i don't know that having the market only 25% consensus completely 50-50 split, some consensus over the environment and one of the most disinflationary worlds we've been in. >> we'll have another chat with richard kelly at t.d. securities. now china's industrial production grew by weaker than expected 6.1% raising concerns about the pace of the slowdown in the world's second largest economy. the data fueled expectations the government could role out further support measures. let's check in on what that meant in markets. sri is standing by for us in singapore. >> hi. typically when you see softer data and the data that we saw

over the weekend did seem to be consistent with growth. you tend to see reaction to the equities. it's no different this time around. i think the reaction of the market is different simply because there is so much leverage in the system. there's still a lot of margin. a lot has been shaken out. still relatively lofty levels. still leveraging really that we're seeing in the markets now in main land china or equities. as a result of the soft er data. the sheng high composite is almost off by 7%. elsewhere in the markets, this is really about the fed. very much in a holding pattern until we get some clarity from the fmoc. you need to watch malaysia and indonesia. they have been the first and second worst performers year to date.

they're looking vulnerable if the fed does hike in a stronger rate environment. that's where we stant. let's talk about technology. saturday marked the first day that apple's new iphone 6s and iphone 6s plus were available globally. early online data showed that the new phones had already sold out in the big market of china. as of 12:00 p.m. eastern time a blog that tracks the wait times for various iphone models showed there was already a three, maybe four week wait for the big screen iphone 6s plus and a two to three week wait time for the iphone 6s. they were seeing quite an open performance. up 1.5%. speaking of apple. apple ceo tim cook will take center stage this week. he is scheduled to appear on the late show with stephen colbert.

he posted a photo of himself wearing his apple watch and asking siri to add cook to his calendar this week. this will be cook's first ever late night talk show appearance though he has sat down with brian williams, charlie rose and david meuer. >> it's a sign of success of the company that the ceo can get on to a late night entertainment chat show. >> i think it's a change of tact for stephen colbert. >> that is amazing. it shows what an institution the company and stuff has become. >> yeah. this should be an interesting appearance. of course, we'll be covering it of course. still to come on the program here, "worldwide exchange", alley baba is hitting back on the fact that its shares are heading deeply south. we'll bring you the details of this clash.

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blog. alley baba has hit back at barons which warned the company's shares could fall another 50% in a scathing report. the ecommerce giant has published a letter saying what are inconsistencies. alibaba's stock dipping below the ipo price having soared below $64. barons said it could be hahalvi report. the history of what happened to their bnb site when they listened in hong kong. how that stock fell during that time. they're talking about falling market share for alibaba. i like this retort from alibaba. they didn't mince their words or hold their punches. they said barons choose a lack of understanding of ecommerce

and the china market. >> they are in a strong position as the experts on that topic to fight back. we'll have to see how it starts trading off the back of this. a big factor as well if we look at that chart over the last year as a whole, not just off the back of this report, is that the weakness has been correlated with the weakness in the china stock market more broadly. clearly that's hurt them. on that topic let's bring back in richard kelly. richard, the china weakness has affected u.s. listed china stocks. is that fair for that to happen as proxies, do you think? >> it's still about an overall demand start for these things. the issue overall in china is you've built your expectation around what is the growth, what are your expansion plans, where is your global growth going to come from. >> well, you know, last night

i'm not sure you were thinking about china, were you? were you watching oh, the start of the nfl season, per se? >> absolutely. >> who are you rooting for? >> eagles. philadelphia. >> because you're from philadelphia? >> correct. >> okay. can you believe wilson is supporting the st. louis rams. >> i am. the reason stems rather than a childhood home, arsenal, my soccer team's owner owns the team. >> tony romo and the cowboys completing a dramatic fourth quarter comeback to defeat the new york giants 27-26. that was pretty tight. romo finding his tight end jason witten for two touchdowns in the final quarter with the winning score 7 seconds on the clock. the they lost their star wide receiver dez bryant with a broken foot. bryant expected to miss four to

six weeks. >> sticking with sport. floyd money mayweather has cemented his place among the boxing grates with the final fight of his career this weekend after a comfortable win over andre berto. they remain undefeated and managed to raise his perfect career record to 49-0. that puts him right up there with boxing champ ricky marciano. he's accrued more than $700 million in the boxing ring says, quote, there is nothing left to prove in the sport of boxing. i say whilst we're on the sports round we should mention u.s. open as well. >> yeah, that's right. >> sadly from my point of view, roger federer didn't win. >> you're a big novak fan. >> the guy has won three out of the last four grand slams. he deserves to be number one. tauted in the hallways of being a legend. can i just get back to the mayweather? >> go for it. >> why end your career 49-0.

why not make it a nice round number. >> judging how these guys do it, there will be a late announcement in six months come out of retirement so that the money for the fight is doubled. i imagine. manny pacquiao, he made $300 million. >> i wouldn't put it past them. we can see. it will all be down to them. totally only if he can get a fight on his terms. he's the money man. >> $300 million for one fight. that's a retirement fight for a lot of people. still to come on the program, we have the richest presidential candidate taking a swipe at high ceo pay. more from donald trump as his election campaign gathers pace. [ male announcer ] whether it takes 200,000 parts,

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japan's mount asso erupted unexpectedly this morning launching smoke more than a mile into the air. it's a popular hiking spot. nhk national television reported ash falling as far as 2 1/2 miles away. two devastating wildfires raging across northern california on sunday destroying more than 100,000 acres of parched land near sacramento injuring four firefighters and prompting california governor jerry brown to declare a state of emergency. the fires threatened to scorch

the california wine industry right at peak harvest season which typically begins in late summer. let's talk about politics and the field of presidential candidates racing for the white house is on. what if one more were to throw his hat into the ring. in an e-mail exchange, mark cuban revealing how he'd structure his own campaign and what it would mean for the u.s. to have, in his words, a three comma president of the united states as in, say, $1 billion. he also says he would likely beat hillary if he ran as a democrat. if he went up against donald trump, he would crush him. no doubt about it. no lack of confidence either. meantime, speaking about the donald. a joke and a disgrace. that's how republican leadership donald trump described current ceo levels.

this in spite of him amassing a multi-billion dollar fortune from running a real estate business. so say he's worth $4 billion or so, richard. i'm just wondering from an investment perspective i guess the antics of a white house race but at the end of it does it matter if democrats or republicans take the white house from a market's perspective? >> i think you'd differentiate the markets from any sort of long-term policies. politics doesn't have a significant impact. markets care about what the central bank is doing over a long run. how are the policies in place. if you're looking at emerging market, politics can make a massive difference. we're talking about marginal differences here at the end of the day. >> what about politics back in the u.k., in particular the referendum on europe? a, is that a factor on what you think for sterling and corbin's victory over the weekend isn't as pro european as his past

labor leaders have been. >> i think that was the biggest fear, take away or potential implication if you come out of the developments over the weekend. i think the issue is you've already had sort of, you know, some members from the party coming out this morning saying regardless we're going to continue to want to stay in the eu. you don't have to worry about that campaign. corbin's background suggests that risk. grexit idea has been off the radar. this may make it easier to get off the radar. i don't know that we have to start worrying. >> we were talking about euro dollar. what about cable? >> i think sterling still outperforms euro. cable is a horse race against the fed as to who's going to hike first. i think that's what ultimately limits how much you can have in cable yet. overall sterling cable are up sides over the next 12 to 18 months. >> richard kelly, head of global strategy at td securities there. so do you agree with that discussion we were having just

moments ago regarding donald trump and whether the ceo levels of pay is disgraceful or is he, himself, mr. trump, being hypocritical? e-mail us or on twitte twitter @cnbcwex. >> what do you think, hip critical? >> sounds a little hip critical. >> yeah. we're in a watch overhead. boeing. watch over the skies. airbus is now expanding state side so will the move pay off or will it get lost in translation. we'll discuss next. it's more than the cloud. it's security - and flexibility. it's where great ideas and vital data are stored. with centurylink you get advanced technology solutions from a trusted it partner. including cloud and hosting services - all backed by an industry leading broadband network and people committed to helping you grow your business.

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good monday morning. if you're just tuning in, thanks be for joining us on the program today. let's check in on how markets are fairing ahead of the u.s. open. here's a look at u.s. futures coming off that holiday shortened week last week. still pretty good for u.s. benchmarks best week. we've seen for stocks since, well, march. so count them. six months. now let's check in on that weekly performance for you. as we do have, of course, the dow jones industrials, the 2% gain last week. this week it's all about what the federal reserve is going to do during the fomc meet on september 16th and 17th. let's check in on some of the tail winds and head winds around the world. let's check in with asia. chinese markets are being in focus. nikkei 225. japan selling off 1.5% lower at the end of it. we are expecting comments from

the bank of japan which kicked off the two-damon tear ri policy meeting. at the end of it, tomorrow, we're expecting some sort of indications from the boj head from karota. the shanghai composite down 2.67%. let's check in on what happened with china. the shanghai fell 2.5. shenzhen down 2%. european markets. let's take a look at what's happening here in europe so far. minimal gains as we head into the 16th and 17th. people holding their breath as to what the fed is going to do. ftse up 18%. the cac seeing similar advances. really awaiting what yellen and co will announce on the 16th and 17th. >> that is right, indeed, susan. let's talk a little bit about

corporate news now. airbus is set to open its first jet liner production plant in the u.s. today in a move to help the french plane maker increase market share and cut costs. let's get a view from phil lebeau. he joins us on the phone from a.m. la b alabama. phil, a significant move for airbus? >> very significant. when you look at what airbus has laid outgoing back a couple of years ago where the backlog of orders became so strong that at some point they knew they would have to increase production. the logical step for airbus was to add a final assembly plant in north america. it helps on a couple of areas, not only financially. giving an interview with the german publication over the weekend saying, look, we believe cost wise it's actually going to be lower cost for us to produce the a320 in the united states versus adding another plant in europe but more importantly for

airbus this plant gives them a greater foothold in north america, not only for landing more commercial orders in the future but keeping them focused on trying to get into more of the defense contracts that are offered here in the united states. for the longest period of time they have primarily been losing out to boeing and if you look at the latest deal at the most clear example of that, the believer at airbus is that this plant not only will help on the commercial side in terms of alleviating the back log which is so long but also in the future perhaps start to gain more of those defense contracts that they've been losing out on. so we'll be at the plant opening today as they officially begin production here with the first a-320 rolling off the line here

in mobile in 2017. guys, back to you. >> phil, will this be very wearing for boeing or not too significant? >> i don't know if it's very worrying. i think it's one of the things that boeing has known this was coming, has prepared for this. i think it was only a matter of time before airbus was going to open a plant in the u.s. they telegraphed this many, many, many years ago that this was eventually going to happen. now that it's here, i'm not sure how much it changes the landscape. i think boeing knew this was going to be coming. >> great stuff, phil. thanks for getting up early. phil lebeau joining us from alabama. just in the last few hours a seni senior asian authority has called for helping the migrants.

now this is after tens of thousands of people took part in pro-migrant rallies on saturday. in an international day of action demonstrators gathered in stockholm, copenhagen and berlin calling on the governments to take in more refugees fleeing syria. they held placards saying refugees welcome here as they marched towards parliament square. there were counter rallies in poland and the czech republic. from the european finance minister's meeting in luxembourg this weekend, here are some of the ranging opinions on how to deal with the ongoing migrant crisis. >> we have made it about immigration policy which was done in the united states. remember ellis island, canada, australia. we have to really close the border. we have really to maybe organize

immigration camps under the supervision of united nations and we have to figure this out. >> in the long run there's no question about it. there are issues linked to isis, there are issues linked to terrorism, but to be quite honest, the approach that we should have right now should not be one about going against nato controls or putting up borders. >> i think it's a secure issue for the refugees because they are not secure when they are trying to cross the mediterranean by boats or trying to walk by foot on the highways in europe. of course there is a security situation like in syria or the islamic state. that's of course a security situation. >> we do not agree in compulsory quotas although we absolutely agree with the fact that all member states should take part

in the effort to make sure that the migrant crisis turns into opportunity for the european union. we've talked about the progress of another plan, investment plan for europe which is going on smoothly, but in my intervention no one is arguing that these matters are interrelated. the lack of investment crisis is a mirror image of demographic crisis of europe and the migrant crisis, on the other hand, is a way to actually address this. >> right. still to come here on "worldwide exchange", apple already seeing blowout demand for new iphones over seas. it could put investor's fears to rest overseas. more on that story coming up in a couple of minutes. cme group can help you navigate risks and capture opportunities.

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wolf, the ecommerce giant, al y aliba alibaba, if they're going to be criticized they're going to criticize barons saying you have no understanding of the ecommercial market. >> it was a strong fight back from the company with that note they posted. shares have been soft also because of general china concer concerns. let's stick on the topic of ecommerce in china. all the details, let's get out to landon at cnbc hq. >> china's taking a big bite out of apple. early data is suggesting the iphone 6s and iphone 6s plus.

data from the site is showing a two to three week wait time for the iphone 6s and a wait of up to three to four weeks for the big screen iphone 6s in china. all of this comes after apple ceo tim cook pulled back the curtain on the new apple products. shares of apple are up 6%. tim cook will be making his debut on tv this week with stephen colbert. he posted a photo wearing his own watch. he asked siri to remind him to ask cook some questions. wolf, back over to you. >> landon, thank you very much. let's take a look at some of today's other top corporate

stories. drug maker shire is considering ways to sweeten the pie owe tech firm baltaxa. last month its unsolicited bid excluded any cash and was rejected for being way too low by the target. the soda wars are heating up and they're headed straight to your kitchen counter. pepsi could k pepsico plans to increase its deal with the home carbonation, soda stream. 50 bed bath & beyond stores across the united states. keurig green mountain preparing to launch a cold drink machine this fall featuring brands from coca-cola, dr. pepper and

snaple. ride sharing giant uber has denied that any of its drivers are arrested in jakarta disputing word from police earlier in the day. no uber drivers have been arrested in the past or today and that jakarta police provided incorrect information. a police spokesperson said 30 uber drivers were arrested as the company was operating illegally. it's sharing economy week on cnbc. we're kicking things off with the transport industry. nancy hallgrave takes a look at the best known brand in the ride sharing space. >> reporter: $50 billion and counting. that's the latest valuation on the app uber making it the most valuable private tech company in the world. that level trumps the market cap of public car rental groups hertz and avis. the road to unicorn stardom hasn't been easy. so the $50 billion question

remains, do the numbers add up? >> to justify that valuation they need to have at least a quarter market share globally of the taxi market which is estimated to be about $90 billion market in total because we need to remember that they take a 20% cut of the gross bookings. so it means that their direct at $18 billion after the 19. so you're already looking even with the whole market at 2.5 times revenue. >> in order to reach that goal uber is doubling down in china and india but the rapid expansion plan comes at a cost. as domestic leaders in those markets have proved willing to subsidize drivers and slash fairs in a bid to protect their market share. still, the private equity arm of indian congrelomerate tata has estimated $100 million investment. the managing partner of that fund spoke to cnbc about why it's putting money with uber over hometown ola.

>> it's sustainable. to top it all, you don't have companies with a global profile like uber reaching out to an india private equity investor. uber may have friends in far corners of the world, but even the most bullish investors might want to think about the evolving land skam at home. >> the example is spotify and apple. spotify completed fundraising at a pretty rich valuation and then a month after the fundraising apple launched apple music. it's quite possible apple will surpass spotify's paid user base in months. it shows how quickly the land scape can change in some of these shared economies and how much risk you are taking by a company that's not readily tradeable. just before going to the break remind of the of the headlines. u.s. futures show the dow post

the its best week in a month. airbus sets up in alabama. new apple iphones flying off the shelves in china according to one tech log. "worldwide exchange" is back in two. more data means more freedom to do..whatever. that's why at&t is giving you 50% more data. that's 15 gigs of data for the price of 10. because the more data you have, the better. and right now at at&t get $300 credit for every line you switch

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and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to invest... ...in this big, bold, beautiful world. welcome back, let's have a look at asian trade. we had industrial production data lower than expected. by the end of the day's trade the shenzhen composite started selling off and that weighed on other indices in china as well. sheng high up 2.7. china was up 1.6. despite a strong week last week in europe, we managed to open positive today. the ftse 100 leading the charge. germany and france just above

flat. we were more positive than the open by a tune of 1/2 a percent. italy is the lager down .4. what are we expecting for u.s. trade? >> a pretty good session after the best week we've seen in six months on a holiday shortened week last week. u.s. futures, the s&p 500 should be up 13 points. when markets open up the dow jones industrials, looks like we're pricing in triple digits, 108 points. the tech heavy nasdaq should see 16 points or so. it will be the closest call. "the wall street journal" reveals the private economists will keep short term rates close to zero this week at their fmoc meeting. some investors are counting down to the two-day meet. roughly 46% of respondents are expecting a rate hike in september while 9.5% say liftoff could come in october when they

don't have a press conference afterwards. more than 1/3 say the fed will keep rates where they are until december this year. meantime, the bank for international settlements, bis, has warned that high levels of debt across the global economy are vulnerable to fed rates normalization. the swiss rates bis said the fed liftoff could create a new credit crisis as total debt ratios are now significantly above where they were back in 2007 just before the last crash of 2008. >> another voice raising concerns. there is a greater fear that markets are over valued at any time since the dotcom bubble. those are the words of robert shiller. they said the confidence survey showed the stocks were back in a bubble. he would not comment on the timing of a massive correction but said a fed rate hike would not necessarily be the trigger for a selloff. let's get a view from michael guerker.

he's joining us from chicago. he's the president of brewer hill partners. thanks for joining us. do you agree with mr. shiller, are we in a bubble? >> absolutely not. and i'm certain that he's a lot smarter than i am in rarts to the way the markets forecast his comments but, no, not at all. i think that if there is a bubble it's so far down the road that we'd need to see much higher inflated prices to warrant that. no, not what so ever. as we've been told the pe ratios across the curve as far as some of the broader indexes are showing they're at pretty stable rights. as i focus on the dollar i don't see it. >> michael, given that we had that big correction in late august and early september, is this a massive buying opportunity in your eyes? which sectors are you looking at to go long at the moment? >> i think every time that we see breakdowns incrementally to

the levels well through long dated moving averages the opportunities exist. they're short and few and far between. when they happen, they are abrupt and worth getting into. right now at least i think that was probably the healthiest thing the market could have seen on stocks and equities to test the waters to see if that was a precipitous drop lower and then a follow through which we didn't get. i think it's through lower volume and much increased volatility levels that are getting warrants like that. i think technology is in a good spot. i'm still a big fan of infrastructure. in particular, you know, the global scenario that you're starting to see the pull back specifically in caterpillar i think is going to start showing good opportunities also as i think the globe is going to take the lead from the u.s. and particularly the fed that things are starting to get a lot better. let's be honest, if you believe in the bls's number in 5.1% in

rates in unemployment, why wouldn't we be raising rates right now. >> that's a good question, michael. what is your call for this week? do they have to go at this point? >> i've been waiving the flag for 2 1/2 weeks here. i think it's completely warranted. i think the markets have been waiting years and half a decade for this moment. i think everything leads to this. the volatility is showing us that we're kind of on the fence but, you know, i don't think it's from a global perspective of leading. more importantly, i think it's an economy that's clearly in a different state than the rest of the world and that divergence in itself is so different it shows us at least right now that the fed should and willing to go. right now at least the actual number in itself will mean nothing to markets. it will mean nothing as far as how much we're going to raise rates. where we go from there will be the big determinant in regards to quarter on quarter, another 25 basis points. if that happens. the euro dollar curve is showing us at least that they haven't

even factored it all the way down. i think that would catch the market slightly by surprise if it's implemented. honestly like the market correction last week and prior, i think this is exactly what the market needs. >> michael, thank you so much for joining us. we have to leave it there. michael guerker, founder and president at bruinhill partners. we're coming off the season opener for the nfl. tony romo and his team came back to beat the new york giants, 27-26. found jason witten for two touchdowns in the final quarter. also let's mention floyd money mayweather who smentded his place among the boxing grates with his final fight this weekend leaving his overall record at an amazing 49-0. that, though, is all we've got time for today. thanks so much for watching.

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good morning. well, it's finally here, fed week. the global markets are on high alert. now just about three days and eight hours away from the much awaited september decision. an apple a day. early reports suggest new iphones selling out in china despite signs of an economic slowdown there. more steps taken by the central planners over the weekend. and in other tech news, a barons cover story this weekend predicts that the shares of alibaba could drop another 50% but now the chinese ecommerce giant is fighting back. and a big win on center

court, novak djokovic defeats roger federer. it's mon, september 14th, 2015. "squawk box" begins right now. live from new york where business never sleeps, this is "squawk box." ♪ ♪ good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. fire crews are struggling to contain an explosive wild fire that started saturday afternoon. it's now swelled to 50,000 acres. more than 10,000 people have been evacuated. at least 100 homes have been destroyed. one person has died. we'll have more on the story. now on the market news, check out the u.s. equity news. the fed will be making