welcome to worldwide exchange. >> here are your headlines from around the world. >> u.s. futures are pointing to a higher open at janet yellen releases a strong message the fed could still hike this year but the central bank chair needs medical attention during her speech. >> for most fomc participants including myself, we currently anticipate that achieving this conditions will entail the

federal funds rate this year. >> porsche's top man is expected to become ceo amid investigations and lawsuits. >> nike sees a 23% bounce in first quarter profits thanks in large part to china. >> get in line. apple fans form queues outside of stores across the globe as the new iphone 6s goes on sale. >> we pick up on the trail of pope francis as he visits the big apple. and an equity extradition. will the trader at the center of the flash crash allegations be sent to face charges in the u.s.?

>> speaking yesterday chair janet yellen saying that the fomc still expects conditions to be right to raise interest rates this year but she caveated that by saying if the economy surprises on the downside, judgments would then have to change. >> for most fomc participants including myself, we currently anticipate that achieving this condition will likely entail an increase in the federal funds rate later this year followed by a gradual pace of tightening there after. but if the economy surprises us.

our judgment is about appropriate [ coughing ] >> will change. >> it was a tough day for the fed chair. she is 69 years old after all. it was an hour long speech and finished in dramatic fashion. she coughed and paused and tried to gain composure several times before walking off stage to be attended by medical aids. the fed chair was simply dehydrated and had continued with the rest of her evening schedule according to plan but let's check in on u. s. futures. we're heading for one of the worst quarters for a lot of these benchmarks. right now above fair value. higher by 23 points for the s&p 500. the dow jones industrials. we're running today up some 245 points when mark gets kicked off and the nasdaq should be seeing gains. the implied open higher by 58

points or so. >> the xetra dax up by 2.8%. gl glencore is on the rise again. many bouncing back nicely in today's trading session. that's really the main narrative out here and as a result the currencies and governs are more vulnerable to normalization if you will like indonesia and malaysia. their currencies are underperforming. i wanted to highlight japanese equities. the nikkei is a stand out winner

today. up by almost 2% in the settlement and we did have very disappointing inflation data, cpi, bank of japan's 2% inflation target looking very elusive but what's interesting is that seems to be building the case in the minds of the market and we could see some action by the boj in october and adding fuel to the fire is the fact that the boj governor met with prime minister abe today. so we could very welsey some kind of development with the boj. may be more asset purchases at some point in october. maybe in the next meeting. interesting to note, dollar-yen because many analysts are telling me that the cross in where we're standing at the moment is underpricing the risk of more action by the boj. elsewhere, locon vix, low energy trade, global growth concerns in china effecting sentiment out there. that's where we stand. back to you. >> thank you for that. we're going to bring a few flashes out as well on the china

central bank. they have been coming out in the last couple of minutes. they will achieve reasonable growth and credit in social financing. they'll use various policy tools flexibly to improve credibility. they're watching international capital flows and see more positive signs from the u.s. economy and see more difficulties facing emerging economi economies. clearly janet yellen echoing some of the materials yesterday but still maintaining her backdoor out of wanting to hike if she doesn't want to do it. >> the economy continues to recover. also she has been talking about inflation, you know, inflation should be coming back. this is a short-term deflation nary environment that we're in. strong dollar should be coming off a bit.

in her view, 2015 is still time to be hiking interest rates. >> i know you don't agree with me but i think she was extremely hawkish yesterday. a couple of times she said it's not worth waiting to hike rates. she talked about too much risk taking and having to abruptly raise rates. that sounded hawkish for someone that didn't raise rates last week and that's something that economic advisors pointed out. this sounds like something or someone that had to justify a rate hike last week. >> it's something she has been saying throughout the year. morgan stanley said for three straight times in these publish forum ifs the economy continues to improve like it has they're going to hike interest rates in this year. so she didn't pull the trigger in september but you have december probability.

>> all right. let's get back to our other top story. german auto makers trading to the upside in today's trading session. this is mueller is expected to be announced as the new boss at a supervisory meeting later today. he is popular among the 20 member deciding board and the porsche family that own the majority of vw voting rights. let's get back out to nancy outside of the headquaters. big shake up is what we're expecting today nancy. >> that's right and you mentioned that they're getting behind the ceo as the expected candidate to become the new chief executive. it should also be welcomed news in the u.s. and he took on that position in 2010 and almost in that time he nearly doubled

sales just in the u.s. 2014 was a record year. california is looking to step up on the matter and there's the question of the dealerships. they're looking for clarity of what to do with the cars sitting in show rooms. of course they have been prohibited from selling the cars that make up about 20% of the volkswagen sales in the u.s. they're very concerned about worried about how they'll move the cars off the lot. the scandal is really impacting the vw brand as a whole and the dealers are worried that it could deter consumers from coming into the shop even for other kind of engines. this is a real worry and we did see estimates yesterday suggest that it's already taking a toll. they're expecting sales from the vw brand to be the only major auto maker to see a dip in september. >> thank you so much for that. >> let's talk about general

motors and gm ceo saying that the company is still acting with urgency even after resolving most of its safety issues. in an interview with the wall street journal, barra saying her focus is on improving profit margins. not chasing market share. gm emerged from its recent trials with an ion improving performance in certain markets. the company is existing manufacturing operations in southeast asia. a factory in australia and ending most of its sales in russia. let's check in on gm shares and how they're performing over -- we're looking at the u. s. listed shares which are not in trade right now but we did see declines yesterday of 1%. now let's give you a run down of what to watch for on this friday. the final estimate on second quarter gdp is due out at 9:30 a.m. 8:30 a.m. eastern time. the economy forecast to have expanded at 3.7% at an annual

clip. the same as a previous estimate that was just reported last month and just before 10:00 a.m. we're going to get the final report on september consumer sentiment. st. louis fed president james bullard and esther george also speaking later on today and blackberry reports second quarter earnings before the open with investors focussing on its software results. just a programming note for you, blackberry's ceo john chen will be on squawk alley today on a first on cnbc interview. that conversation coming your way at 11:00 a.m. eastern tile. >> the white house rolls out the red carpet for china's president but will obama be able to get results? we'll go live to beijing after this short break. &t and directv which means you can watch movies while you're on the move. sitcoms, while you sit on those. and even fargo, in fargo! binge, while you lose weight!

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welcome back. u.s. futures point higher as the fed could still hike this year. they gather outside vw headquaters as the company sets set to name it's new ceo and nike beats the street on the bounce with a 25% jump in profits. >> chinese president xi jinping touched down in washington d.c. on the latest leg of his visit. he will enjoy lobster with u.s.

president barrack obama with official business to get around to later today. since it's morning here i'm a bit hungry. i want to talk about the menu in particular. it's very rare for a visiting country, the same visiting country to be invited to a state dinner twice in one president's administration so they have to differentiate xi's dinner tonight from a few years ago but what's not different is its still based on lobster. >> it is. it is maine lobster. it's on the menu. so is colorado lamb. the distinction, though, maybe is that they're going to be dressing it up a little bit differently. still american and chinese culinary cuisines mixed. a fusion. they have a celebrity chef preparing everything. also they're rolling out the red carpet in another way. they bring in rnb singer that's

a quarter chinese and that will cap off what will otherwise be a relatively uncomfortable day between the two presidents so the two presidents are going to throw out a lot of different issues and the expectation is that at least privately they'll have tough conversations about cyber security as well as the south china sea. there's an expectation that there could be a deal on climate change. just because both presidents made an announcement here when president obama had come here and really tried to present themselves as the ones in charge of reducing carbon emissions so we might get some announcements about measures that they're going to take in order to reach those goals but otherwise a lot of the expectations have been managed down that we would see a cyber accord that would be anything more than some hoos guidelines on rules of engagement on the internet, guys. >> yeah and their after dinner

entertainment is the singer neyo. eunice, thank you so much. >> the hearing of the so-called flash crash trader may be adjourned according to cnbc sources. let's get back out to catherine. what can you tell us? >> it seems as though from my sources that they filed a muscles material in the extradition hearing which means they have the time to assess. they want to have more time to go through it and before of course he is subject to an extradition hearing where he may be sent to the u. s. to await trial on 22 charges relating to the 2010 flash crash. there also appears to have been some issues within his defense team in terms of his qc has not yet shown up. there may be some health issues there so this extradition hearing may not in fact go ahead

today. discussions are on going in the courtroom behind me at the minute. the defense team is lobbying hard to try to give themselves a little bit more time to assess whatever new material the u.s. put forward to try to get him over to the states for trial. >> catherine thank you for that. still to come on the show, nike's winning streak. the top and bottom line both sprinting past forecasts. we break down the numbers, that's next.

>> nike's first quarter profits rose 23% beating forecasts for the 9th straight quarter as revenues rose 5%. the athletic shoe and apparel company with more products with higher prices. nike did well in china where sales rose 30%. future orders rising 9%. shares rising nearly 8% in after hours and currently in germany nike up by 9.8. adidas up by 3.4%. let's talk more about nike. joining us live from chicago is paul, equity analyst at morning star. good morning to you.

appreciate your time this morning. every day on the show we talk about the slow down in china. i guess nike is not noticing that. >> yeah. and obviously as we look at global brands for consumer goods, china is a big part of the future growth of all of these brands. so the fact that nike has been so strong makes us feel more comfortable that other brands will continue to grow as the consum consumer class continues to grow in china. >> is there anything that nike did wrong in the first quarter of 2016? >> yeah, there aren't -- the negative aren't big. there was a little bit of a slow down in the u.s. and then they did mention that there's a little bit of excess inventory due to the situation over the summer and theb of courn of cou summer was a little bit cold in the u. s. but overall back to school is not bad and that's important for athletic companies.

the other thing that was a little bit of a negative is that converse which is a little more of a fashion brand, converse was a little slow. they pointed to the u.k. as part of the problem. >> it's a competitive environment, get it. competitive environment and athletic wear. i'm just talking about the big name brands going global as well. under armour has been performing tremendously. that's the hot label in athletic gear. do you think nike might be looking over their shoulders? or should be? >> well, you know, i have been hearing this since about 2003 or 4 that this is a competitive game but don't forget under armour is not even a tenth the size of nike to its been a story of a rising tide floating all boats. as companies innovate and come up with great new technologies and put a lot into marketing, sports stars and their brands, it's been a rising tide floating all boats.

nike is mainly a footwear company and under armour is more of an apparel company. nike can still do better in apparel and under armour in footwear. >> this sector that has done brilliantly but nike performance hasn't done well this quarter. it's like nine quarters in a row they beat in street estimates. what makes them stand out for the rest of the pack? and can that continue for another nine quarters? >> they have -- really i hate to be so superlative but they have incredible returns on capital. they get back 28 to 30% return on that dollar. that's incredibly efficient. but to your point, usually footwear cycles, apparel cycles they last three or four years. it's been going on five or six. athletic has been strong for so

long. we did see slow in the u.s. they pointed to mitigating factors which are worries that strong trends in running and strong trends in basketball they'll be lapping so many good quarters that it can't go on forever. >> paul, thank you for joining us this morning. much appreciated. equity analyst at morning star. >> pope francis is only spending just around 40 hours in new york city and he plans to make every minute of it count. cnbc's mary thompson filed this report. >> congress gives a thunderous reception to the 266th leader of the catholic church. bringing tears to the eyes of his host and fellow catholic house speaker john boehner and shouts of joy from the 30,000 greeting him outside of the capital. telling lawmakers live by the golden rule. >> do unto others as you will have them do unto you. >> the pope calling for the

world's largest arms exporter to end the arms trade. >> why are weapons being sold to those who plan to inflict untold suffering on society. sadly the answer as we all know is simply for money. >> and in describing business as a noble profession, urged it's leaders to put people before profits. >> it can be fruitful souls of prosperity from the area in which it operates, especially if it sees the creation of jobs as an essential part of his service to the common world. >> the pope's phrase of the late

d dorothy day, suggests he remains wary of capitalism though failing to include a line that says politics can't be a slave to the economy and finance it appears the pope was wary of being too critical of it as well. >> the vatican calling the dropped line a little oversight by the pope in a 50 minute speech asking congress to remember their immigrant roots and work toward a culture of care that would combat poverty and nature. >> he called for respect of life at its earliest stages and the abollishment of the death penalty. while the speech offered something for both sides of the aisle marco rubio said he heard the pope's call of working toward common goals. >> whatever our policy differences may be we're all called to put the good of our people above all. >> differences put aside at least for a day.

for cnbc, i'm mary thompson.

welcome to worldwide exchange. i'm susan lee. >> i'm wilfred frost. here are are your headlines around the world. >> janet yellen delivers a

strong message. the fed could still hike this year but the central bank chair feels weak and needs medical attention during her speech. >> for most fomc participants including myself, we currently anticipate that achieving this conditions will likely entail an increase in the federal funds rate later this year. >> new developments in the flash crash case. sources tell cnbc that traders hearing may be delayed as they make last minute changes to their extradition request. >> who's in and who's out? porsche's top man is tipped to become vw's new ceo amid raeg investigations and lawsuits. >> nike sees a rise in profits thanks in large part to china.

>> good friday morning. if you're just tuning in thank you for joining us on the program today. let's look ahead to the u.s. markets and how they're fairing after lee straight days of declines. fair value. we're up some 25 points for the s&p 500. meantime the dow jones industrials pricing in a hefty gain at the open. we're 256 points above fair value at this point. that's a rally being priced into the open today and the tech heavy nasdaq should be seeing gains of 300 points or so. this is on the back of the big rally we're seeing here folks. let me show you the rally we're in the midst of. right now we have the ftse mib up 3% folks. the cac 40 higher and you know for the cac 40 for the ftse and the dax we're on track for our worst quarter since the third quarter of 2011.

so hopefully these multipercentage gains should be helping. the 225 seeing an advance of 22% but we're back in inflation. the first consumer read we've goten in two years time. the hang seng index pretty much flat at the end of the week and then declines for shanghai and also for the asx 200 index. >> apple fans are lining up around the world to be among the first to get their hands on the new iphone 6s. phil is outside the apple store. what's going on down there phil? >> well, susan, the doors opened here about 2.5 hours ago and there's still some pretty die hard apple fans waiting to get their hands on the iphone 6s and

6 plus. it has a couple of new features including 3d touch and better camera and video capability as well as a better processor and memory. that's why some are asking whether this will be enough to drive consumers back into the shops to pick one up and by all accounts it looks like that's going to be the case. preorders for both of these phones sold out last week and the company is saying they're hoping to surpass last year's iphone 6 number in terms of units sold at 10 million. obviously good news there for apple but it hasn't all been a rosey picture. last year we heard a couple of negative stories. they had some issues with it. a lot were complaining about slow performance and of course the hacking of the apple app store as well impacted a lot of you, just particularly in china. but here on day one of the new iphone 6s and 6s plus, lots of

very big crowds. some of the crowds started lining up on monday at 9:00 p.m. but the big question for apple is whether they can draw new customers back to come to the 6s and 6s plus so i guess for the next little bit it will be wait and see but obviously on day one lots of excitement around this new product. >> two quick little questions. any idea of all of these people buying the 6s whether they already had an iphone 6 or if they were upgrading from earlier models and is there still a big queue or has that initial interest abated quite quickly. >> there's still a queue. it's about a 20 to 30 minute wait to head into these stores and just to your other point, the majority of the users already have the iphone 5 or the 6 but what i found was interesting is a lot of them are buying the new rose gold model. this is a new color for the 6s and 6s plus. so there isn't a lot of

differentiation so maybe that's one of the reasons why they're buying this rose gold color so they can show off i've got the newest phone. >> great stuff. thank you very much. all right let's talk about the markets because we're seeing quite a rally across europe and the implied open is looking at gains when u.s. markets kick off. let's go live to new york. we have kathie wood, ceo, chief investment officer and i also noticed that you own apple in three out of your four etfs so it's fair to say that you're bullish on apple. >> yes. we have become more bullish in the last few weeks since they announced their upgrade program. we think that's going to reduce the replacement cycle and you're going to have a recurring revenue stream now as people adopt the $32 a month upgrade cycle. >> we're just talking about shipments this weekend and the hugely successful laufrk of

iphone 6. 10 million handsets alone. same launch date as everybody else. that has is going to bump up the number from 12 to 13. >> yeah. we would not be surprised to see that at all. >> give me a, you know, a number that would be disappointing or to you a very bullish number. do you have one? >> well, we're not short-term in our focus and one of the most important things that happened last week is the announcement of the upgrade cycle so for $32 a month you can have a new phone every year and this is an am -- this is an apple hosted strategy. so it cuts out, in a sense, the telco so that's very interesting in terms of bringing apple into a recurring revenue stream instead of this very cyclical product cycle. >> kathie, okay. so you're an apple bull but we had a guest on the show about an hour agatha said next year is going to be a challenging year

for apple because that's when consumers, many of them will hit a saturation point. do you agree with that to some extent at least? >> that's one of the reasons they introduced the upgrade cycle. the replacement cycle had been extended for a year or so now to 26 months. if people now have the opportunity to upgrade every year, that could be a much more sustainable, again, recurring revenue model. it could change the multiple structure. the valuation for am here. >> kathie, let's move away from am and talk more generally about markets. we heard janet yellen speaking yesterday making it sound like a hike is, in fact, still on the cards for the calendar year. what do you make of that and do you think that markets -- because they have been pretty volatile since we didn't get a hike last week, do you think that markets actually want to hike now? >> yes, we do. i think the big fear out there had been a deflationary bust but

if you look at the ten year treasury bond yield it bottomed in july of 2012 and has been gradually moving up if you break out inflation versus growth with accelerating growth incorporated into the yield. so we think the market wants the markets to work again. not the fed to be engineering this recovery. >> thank you for joining us. we have to leave it there. kathie woods, ceo and cio. >> you know apple users that upgraded to the ios 9 might be vulnerable to a hack through siri. the work around allows people to access photos and other private information. you can protect yourself by switching off access from your lock screen in your settings buttons. >> you can read more on apples new device on our website. head to cnbc.com. >> gook's oculus is teaming with

samsung unveiling the virtual reality head set for $99. half the price of the previous model. it will be available in time for black friday and the rest of the world shortly after. they're partnering with netflix, hulu to offer more streaming and live video content. >> virtual reality. so cool. meantime not all technology companies are vibrant. for instance, marvel technologies are planning to cut around 17% of its global work force as it tries to restructure it's mobile business. marvel may chip some processors for smartphones and tablets and it warned it would report a second quarter loss amid an accounting review. rising some 8% in after hours on the back of this news. >> strike now while the iron is hot. amazon is selling prime memberships for $67. one day only today. prime which offers unlimited

free shipping normally costs $99 a year but amazon is holding the one day promotion to celebrate the five emmy awards for its original show transparent including best actor in a comedy for jeffrey tambor. >> still to come, nike does it again. the athletic shoe giant beating forecasts for yet another quarter. we'll break down the numbers for you after this short break. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. my name is watson.

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nike continues to dominate the competition with more than 45% of the global athletic shoe market. the company also extending it's positive earnings streak. let's get out to landon. she's got all the details on nike's results from cnbc hq. >> nike's first quarter profit rising 23% beating forecasts and the company tops estimates for the ninth straight quarter. revenue rose over 9%. global sales rose 14%. the athletic shoe and apparel maker selling more products at higher prices and is benefitting from increased sales at its stores and onlines. futures orders rose 9% although they were up 17% excluding currency changes.

clothes being worn by consumers that aren't necessarily working out. orders were up 27% and china had been trouble for nike after the olympi olympics. 2016 is off to a great start. >> leveraging our portfolio is one way we sustain growth. the other is through innovation. we scored the power of our scale this quarter as we share from one category to another. create separation and this is something only nike can do. >> nike rising 8% in after hours and up about 10% today in europe while adidas is up 10%. nike outperformed up 19% while the index is down about 10%. back to you. >> landon, thank you very much. >> the hearing of the so-called

flash crash trader may be adjourned according to sources. catherine, what can you tell us? >> well, according to the defense team there's a couple of ways this hearing may be adjourned today. the first and most important is that it looks as though the united states has come forward with more material in it's extradition request for mr. sarao which was supposed to be decided today and the other element of course to this is that a key member of the defense team has apparently had an accident this morning too. so mr. sarao doesn't have the full force of his legal tale behind him. we're all waiting outside the court to make a decision on

whether this hearing should be delay. and whether it may involve some of the charges back and also to give them more time to prepare with their full team on hand so where as we thought earlier on in this week it looked as though his fate would be decided or whether or not he will face trial in the u.s. will be decided by the end of today, that now is looking extremely uncertain. >> all right, catherine, thank you so much. just outside london's magistrate's court. let's get to sports and eli manning passing for two touchdowns as the new york giants defeated nfc east washington 32-21 after late game collapses the giants found the end zone twice in the final quarter last night. the win is the giant's fifth straight over the redskins. the kansas city royals thumping the seattle mariners 10-4 and

clenching the team's first american league central title. royals starterer allowing three runs over 7 innings to earn his first win in nearly six weeks. kansas city made it to game 7 of the world series last season but it's the team's first division title since they won the american league west in 1985. >> let's remind you of the headlines. u.s. futures pointing higher as the fed could still hike this year. the flash crash extradition hearing could be adjourned due to new material and nike beats the street with a 23% jump in profits. we're back in a couple of minutes.

we are up over 3% for most

of continental europe's forces up over 2.6% but do bear in mind we're still down for the week as a whole in europe. strong delines for most of the week following the volkswagen scandal. >> the rally is helping to lift u.s. markets future. the s&p 500. we are higher by 26 points. looks like the implied open as we're 269 points above fair value. the tech heavy nasdaq pricing in gains of 58 points coming off three straight sessions of losses and we now have futures trading in caterpillar shares. being the big drag on the dow yesterday with the stock falling more than 6% slicing 10,000 jobs. also cutting it's revenue outlook but right now we're looking at caterpillar up over 3% in premarket trade. >> a little news to share on

staples. the european commission is opening an indepth investigation into staple's proposed take over of office depot. that deal would be worth $6.3 billion. so once again the european commission opening an indepth investigation into that staple's takeover of office depot. >> let's move on, the u.s. senate will hold a vote on monday. a step toward avoiding a government shutdown on october 1st. the measure does not include a provision to defund planned parenthood which conservative republicans have targeted amid allegations it improperly sold fetal tissue from abortions. house speaker john bainer is working on similar legislation but it's unclear whether he will defy conservatives to put forth a clean bill. >> speaking last night chair janet yellen says the fomc expects conditions to be right to raise rates this year but

caveated that with if it falls to the down side that will change. >> we currently anticipate that achieving these conditions will likely entail an increase in the federal funds rate later this year followed by a gradual pace of tightening there after. but if the economy surprises us, our judgments about appropriate monetary policy will change. >> yellen's hour long speech finished in dramatic fashion as she coughed and paused for several times before walking off stage to be attended to by medical aids. >> so let me stop there. thank you. >> a fed spokesperson later said the fed chair was simply dehydrated and had continued with the rest of her evening schedule according to plan. >> let's get back out to chicago

where chief market strategist joins us. so we saw the dollar moving a little bit higher. yields were up. s&p futures looking quite all right. did the yellen speech move the needle or did it not when it comes to rate hike expectations? >> good morning. i think that it did move the needle. i think the street is now ready for higher rates. i think last week's decision not to raise rates was more of a bad sign and more negative to the market because i think we finally realize that these lower rates, the zero policy is not healthy for the overall economy and creating more problems than it's worth and the only way we can grow is by raising rates and that will stimulate the economy more than anything else. >> we've seen an extraordinary week in the auto sector here in europe. leading markets down sharply although we're bouncing back today. does that create opportunities for the u.s. auto stocks? would you be looking at them right now? >> well, you know, i'm not a big

fan of the u.s. oil stocks. they don't have enough volatility or pay a big enough yield. they always create opportunities. any time you see a major move in companies that are good and solid and if it's a major move to the down side those are the opportunities that you're going to look for to step in and buy those because they're going to fix those problems and get through it with no problem. volkswagen will have a fine to pay back but at the end of the day volkswagen isn't going out of business nor any of the other u.s. auto makers at this moment. >> i love talking about dislocations. what is that telling us right now that stocks are not? >> you have seen them start to

push the markets up and they're telling us we want rates to go higher and we don't care. the fixed income market had the biggest markets in the world by many times over so they do have a lot of muscle and they have been trying to say get off your you know what and raise these rates. that's what we're looking at. i don't believe that they're going to be able to raise rates and this is more talk myself and i think that eventually they'll come out and say we're not seeing growth, we're not seeing this and of course we'll say no interest rate rise. i for sure don't see one in 2015. >> thank you for joining us. contrary to the depression they have experienced for the rest of the week. down on the week as a whole but up sharply today. >> that friday feeling translating through to markets. we are going to be recovering from the sell off that we have been looking at.

>> that's all we've got time for today on worldwide exchange. thanks for watching. >> have a great weekend.

>> u.s. stock futures jumping right now. jurp europe is sharply higher but there was a scary end of yellen's speech. calling it dehydration under hot lights. >> nike shares getting a boost. among the drivers, china, surprisingly strong. >> and an apple a day, people lining up from australia to california to get their hands on the newest iphone this morning.

it's friday, september 25th, 2015 and squawk box begins right now. ♪ >> good morning and welcome to squawk box here on cnbc. andrew is off today. the big story here in new york city this morning, pope francis is here. the pontiff continuing his united states tour. thousands greeted him as he arrived in the big apple yesterday afternoon. lining the roadways, waving flags, snapping pictures. today the pope will address the un. he'll also visit the 9/11 memorial, stop at a school in east harlem. go on a motorcade through central park and end with a mass at madison square garden. is