>> millions of americans prepare their thanksgiving travels. >> another household name disclosing a 7% state in the printer business and calling it's shares undervalued an open

letter from ralph nadar says she should seek advice from her husband. >> good morning, everyone. it is 5:00 a.m. on the east coast, 10:00 a.m. here in london. quick peek at u.s. futures this morning and we're seeing some softening. the s&p 500 seen off by 8 points. this is after the dow, the s&p and nasdaq all closed lower in the trading session. 6 billion shares were traded versus 7 billion on average. so thinning out as we approach the thanksgiving holiday. let's get back to one of our top stories. turkey downed a russian military jet near the syrian border. turkish military warned the jet a number of times before taking it down for what it says was a

violation of turkish air space. the russian defense ministry through the ria news service refuted those claims saying no such violation occurred. tv imaging showed two pilots parachuting from the jet before it crashes into mountains. just want to show you the reaction in the markets. we're seeing the turkish lira under quite a bit of pressure down by roughly .6%. also moving on, the equity market is down by 1.4%. how are markets in europe fairing? >> not fantastically. of course last week was pretty strong. today is more meaningfully down as you can see. we're down about 0.8%. ftse 100 0.8 for the tax. part of that is this russian jet being shot down but not really to be honest. we did have a bit of a bounce back by the tune of about .25% after german ifo sentiment

surprised to the upside. still he is 1 for 6 in negative yield territory. you have the five year there highlighting that point and the ten year has dipped down below 5% and really we have been in and around that handle for a couple of weeks now and that's railro more relating today at a than anything else. >> thank you. we are seeing a reaction to that developing study. we have seen a flight into the safety of the yen. so it has picked up toward the tail end of the session over here and i do fear this is still very much going to be contributing to global market uncertainty and volatility. let's not forget that the

russian foreign minister visits turkey tomorrow. scheduled diplomatic visit to discuss syria and the downing of this russian jet is going to spoil it and make it quite awkward in terms of the diplomatic that he has there. underlying sentiment remains quite fragile out here especially in the emerging market and because of the continued collapse of the commodities complex, especially on the cyclical end due to the stronger dollar so the stronger dollar in my mind is the negative feedback for the emerging markets. for the currencies and the broader capital markets as well so that's why we're seeing not a great deal of conviction. it's up for the fourth straight session it's locon vi locon low conviction. that's where we stand. back to you. >> thank you very much.

>> right, the latest from brussels now, they have charged a fourth person linked to the deadly paris attacks. it comes as an explosive suicide vest was found on the outskirts of paris potentially belonging to an attacker still on the run. >> julia is there for us now. julia. >> thank you, so clearly what you're building there is a picture of greater information being collected by the authorities here in belgium and also in france. it's continuing at the highest security threat alert level. clearly the prospect of an imminent attack of some sort remains a key concern and this is a point that the prime minister underlined yesterday but he is trying to calibrate the response allowing people here to in some way get their lives back to normal. the lock down that we're seeing on the metro situation and

schools and universities is going to start unwinding tomorrow. of all the arrests, one man charged. so work there continues and of course work continues on the manhunt. this on going search for one of the terrorist suspects from the paris attacks. now guys, in line with what we have seen in europe in terms of raising the risk level and security awareness we've seen similar from the u.s. this morning to the state department raising the level of concern and for u.s. citizens, a terrorist alert not tied to a specific event risk but a high security risk and they're warning both travellers at home in the u.s. that they need to be more vigilant and the timing makes sense not only for what we have seen in europe but ahead of the thanksgiving holiday on thursday and they just want travellers to be more vigilant i think. >> julia as brussels remains on lock down, what does it mean about daily life and people going to school to their offices?

when will that come back to life? >> well, this is what is going to start to happen. and we're going to see the metro open in a staggered fashion so at least the people that struggled to get into work or working from home there will be some sense of normality there but as far as the shops and businesses that weren't opening yesterday, it's a case of wait and see. they're trying to bring things back to normal but of course we're still operating under this highest level of security alert. it's just a balance of two things and we have to see how con fireworks den people are to get pack to business here. >> julia, thank you so much for your report. moving on, the u.s. state department issued a global travel warning. the authorities said it is likely that several groups including islamic state al qaeda and boko haram will continue to plotter error attacks across regions. americans have been told to be careful in big crowds at holiday

events and festivals. will the new travel alert put off the millions of americans heading out of town this holiday season? let's get out to jay grey in dallas texas. >> hey, we're a little bit ahead of the morning rush here at dfw airport in the dallas ft. worth area. this international airport one of the busiest in the country and they will see a big business throughout this week and it's the busiest travel week of the year here in the u.s. 46 million or more either flying or driving to their destinations and aaa here believes it will still be crowded on the roadways or airways despite the alert from the state department that you just talked about. it will take extra time. you'll see added security at airports, longer lines potentially and we'll be dealing with the weather as travel continues so that could cause some delays from air travel. it could cause problems on the roadways as well. so best idea if you're going to

travel this week make sure that you add a little extra time to your journey to deal with some of those potential issues. >> all right. jay, thank you so much for your time really appreciate it. >> okay when we come back we'll be talking a lot more about markets futures this morning pointing to a some what weaker start to the trading session. the s&p 500 seen off by 7 and the nasdaq seen lower by roughly 16 points. we'll be back in two. you can't predict the market. but through good times and bad... ...at t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence. try align for a non-stop,ive sweet-treat-goodness hold-onto-your-tiara, kind-of-day. live 24/7 with 24/7 digestive support. try align, the undisputed #1 ge recommended probiotic. bob dylan. to improve my language skills,

i've read all of your lyrics. you've read all of my lyrics? i can read 800 million pages per second. that's fast. my analysis shows your major themes are that time passes. and love fades. that sounds about right. i have never known love. maybe we should write a song together. i can sing. you can sing? do be bop. be bop do. do be do be do. do do do be do.

welcome back. let's remind you of the headlines. a russian military jet is taken down by turkish forces near the syrian border. a worldwide travel alert is sued due to increased terrorist threats and activist investors, icahn is the biggest shareholder in xerox while ackman buys more valeant. >> let's give you a run down of what to watch this trading day. the second estimate is out at 8:30 a.m. eastern. growth is expected to be revised upward from 1.5 to 2.1%. reflecting a smaller drop from inventories to smaller consumer spending than previously thought. we get the home price index which is expected to show prices for more than 5% in the month of

december. at 10:00 a.m. november consumer confidence is out. results before the opening bell. hp posting it's fine set of results as a loan company. >> fed chair janet yellen is arguing a cautious approach with an unusual response with ralph nader. she repeated that the central bank should only raise rates gradually. he asked her to consider humble savers frustrated with the fed's low rates and dramatic debate on whether to move higher. he suggested that yellen consult her husband about what to do. in her response, yellen did not mention her husband or nader's sus swr suggestion. thank you for coming in. we saw volumes thinning out in yesterday's trading session were a little bit lower.

this week we have to disreforward given that it's the holiday short week. how do you want to be positioned going into the final month of the year? >> constructive on the u. s. equity market. if you look at the big picture from our perspective the u.s. consumer is healthier. basically the less am of debt they've had in ten years per household. the banks have completely recapitalized. they're great balance sheets and they have come through a very tough period from a regulatory standpoint and now what you're looking at is average valuations. 15 times forward earnings for the s&p 500 versus 16 times the last 20 years. so overall with growth bouncing around 2 to 4%, stocks, average valuations, consumers are healthier, we're constructive. >> but haven't markets already bounced back enough. october is very strong. we'll have a couple of weeks of weakness but last week the best week for the whole year for the

s&p 500 and the uncertainty of what the fed does in december. isn't it easier to sit on the sidelines for the final month of the year? >> we're still around the 0 to 5% return for the year. it's not -- the long-term return is closer to 10%. we they on average, we're not trying to time the mark, we're longer term investors but we do think that the u.s. economy continues to be strong. it's the only developed economy that has surpassed it's precrisis peak of gdp versus other economies still struggling from the financial crisis. so the u.s. to us looks strong. >> are you not concerned about the narrow leadership we're seeing in the s&p for example? you're looking at alphabet, amazon, one stock that you particularly like. facebooks. i mean, without the stocks, the s&p would be negative for this year. >> it is very interesting. we actual dhly do have positionn both. all three of those. amazon is a stock we owned for over 12 years.

these are companies gaining market share. we're trying to find great companies gaining market share from other companies and buy them at the right price. we're trying to buy good businesses at 70 cents on the dollar and these are companies that to us are going to continue to compound in value because they're gaining market share. >> in that sense they're special situations because they're innovators and as you say they're disrupting and you can own them because of that. what about the plays on the u.s. economy? housing or banking sectors? are you positive on those as well? or is it only the stock specifics like amazon that you like? >> we do like the large u.s. banks. we're overweight bank of america, jp morgan, goldman sachs, morgan stanley. we do think that with interest rates set to be rising these banks are now great balance sheets and they're positioned for a better u.s. economy and the housing market. so if you look at the big picture on the housing side, the long-term average for household formation has been 1.5 million. right now we're bouncing around

1 million. so we do think that we work our way back toward this long-term average. the u.s. housing market is a major driver for the economy. >> what's going to be the big trends going into 2016? still monetary policies and weakness in the energy space. what are you looking at? >> we're focussing on companies that are allocating capital and looking to buy good businesses at the right price. but basically what we're focussing on is housing. continuing to remain relatively strong. banks recovering. >> thank you for your time. just want to bring you some

breaking news on the back of the downing of a russian jet by turkish fighter jet near the border of syria. a kremlin spokesman called the downing of the russian war plane in syria a very serious incident but says it is too early to draw conclusions. >> still to come on the show, brussels remains on lock down and world leaders are divided on how to tackle isis, our next guest says there's no time to spare for political indecision. tune in as we speak to best selling author.

it's easy to buy insurance and forget about it. but the more you learn about your coverage, the more gaps you might find. like how you thought you were covered for all this... when you're really only covered for this. hot dog? or how you may think you're covered for this... but not for this... whoa! no, no, oh , oh! ...or this... ...or this. ...or that... talk to farmers and see what gaps could be hiding in your coverage. my heaven! ♪ we are farmers bum - pa - dum. bum - bum - bum - bum ♪

president obama is expected to meet with his french counter part later today in washington d.c. to discuss the fight on isis. let's get a preview from nbc's tracie potts with more on that. >> good morning, a coup of things the white house tells us they're going to talk about and top that with the russian jet being shot down by turkey in this whole fight against isis just goes to show how countries that are all against isis are on very different sides when it comes to the situation in syria. so with that happening just hours before this meeting, the white house has told us they will also talk about how the u.s. is supporting france in it's air strikes which we have seen more of just this morning against isis.

europeans sharing more information and intelligence. that's been a problem and it's something that analysts believe may have lead to what happened in the paris attacks. the fact that european countries were not as effective as they could have been in sharing intelligence. and then of course finally and this is sort of the big elephant in the room, the military strikes against isis from the air and whether or not that's going to be enough. which country is willing to put boots on the ground? president obama has been reluctant but without that many experts and many here on capitol hill think this is a fight that we may not be able to win. >> tracy, thank you so much for that. >> so public opinion of course continues to be divided over how best to tackle the threat of isis. and we're now joined by the rabbi who is a tv personality. has 30 books including the upcoming israel warrior's handbook. very good to have you with us.

thank you very much for joining us. now forgive me for doing this but a bit of context. you have been quite a vocal critic of president obama's foreign policy throughout his term as president on a number of issues but how do you gauge his response to the recent terror attacks? >> we're wondering whether he is focused on reality. when the president says that isis is contained and brussels is shutdown and kids can't go to school and there's scores of dead people all over farris an that's considered a set back. that's a catastrophe and they're winning and spreading their tentacles throughout the world. we have to take this very seriously. one of the reasons i'm a critic of the obama foreign policy. you have to be motivated by a hatred of evil to understand that monsters cannot take over the world. whether we put boots on the ground or no fly zone or stop their funding, you have to make this a global every but they're

not the junior varsity team, they are a serious threat and they are making people afraid around the world. they are diminishing our quality of life. when you're afraid to go buy groceries then your life has changed. >> but i'm sure that president obama is aware of the level of global threat that they pose. surely what has been highlighted as well by events this morning that to get a really lasting resolution to this issue we do need that international political diplomatic response and that's hard to get. that doesn't come overnight and we are only 10 or 12 days on from this tragedy. so what more could he have done in the last 12 days that you vn seen yet. surely these things take time. >> you said we need an international diplomatic response. right now we need international military response. many of us americans people that the administration's approach to foreign policy has been don't do stupid stuff. don't make mistakes. don't make military mistakes. he defines himself in contradiction to the bush

administration that had failed invasion. but almost no one believes that isis can be removed without boots on the ground. no one wants to see american boys die in another middle east war. no one wants to see british men or european men and women risk their lives but what choice do we have right now. there is a war. so either your going to send your military to fight it or have your civilians fight it. it's insane that civilians are fighting this war. you have an army for a reason. it's to ensure that civilians don't get blown up and it's not much more complicated than that. if 12 days have passed by since paris i think the response has been almost mediocre. >> what prevents a worse response or worse outcome down the line coming out? you could argue one of the outcomes of the iraq war and lack of planning with what you do on the other side of it has been to allow the rise of isis. clearly you don want another

mistake like that and there's total division internationally as to whether that is the next step and we open ourselves up potentially to another bad consequence of a military invasion. so you can't make those decisions immediately or lightly. >> there's many opinions as to what lead to the rise of isis. one opinion would be the one that you just articulate which had is its the invasion of iraq. many people would say it's the withdrawal of american troops from iraq. the united states invaded in 2003. isis came to the fore in 2011, 2012 once we removed the american troops. after the surge there was no isis. so we can debate this point and even if it's accept it was the american invasion. let's not forget saddam was a butcher that killed over a million people according to estimates, let's not forget that isis were they to be removed they were a failed state. they were a brutal barbaric state so the problem with iraq is how do you donation building once the invasion was over. here you have a mess any one but

one thing i recognize, isis is a cancer. i'm an american that walked through times square in new york city two nights ago and it was like a war zone. new york police decked out in full combat fatigues. now i'm in london and you go through the airport and it takes so must have longer because they're examining everything and it looks like a war zone here with the way the police are decked out. when they do you have to take it seriously. >> that's a grave exaggeration and we don want to overplay it. of course there are serious concerns. >> we have police on the street that are readying right now for another paris-style attack. that's not an exaggeration at all. >> but you said we're in a war zone on the streets of london. >> we're not in a war zone. >> is paris a war zone? >> and what therefore in your eyes is the fundamental cause of the rise of isis? because at the moment we're hearing lots of criticisms of action but what's your solution and where did this rise and

fundamental doctrine come from? how do we solve it at the source? >> we need to turn to our muslim brothers and sisters and mainstream islam and get them to get rid of any and all violence in the name of islam. we need them to say that you're not going to heaven if you take innocent life. once you remove the theological part of the movements you can defeat them more easily. right now they have so much sanctuary. the second thing you need is a western military coalition that joins a diplomatic coalition so these understand that we're ready to fight them. boko haram is running rampant in nigeria, islamic and isis. you need to be prepared to fight them but i think paris was a war zone. it was a war zone. if you have 100 people dead lying around. that's a war zone and i don't

think we can underplay how serious this is. i think werners are afraid. what about israel, every day five people are dead. we have a daughter that lives this. every time you see an alert on your phone, you can't breathe. you get sick to your stomach. people shouldn't be dying every day at the hands of terror attacks and stabbings. >> but the halt of the resettlement of 10,000 syrians. why is that the right response? >> no one says that we should not resettle syrians. i'm a jew and we weren't allowed into countries when we were being systematically exterminated in germany and i will never forget that. the united states is a compassionate country. britain is a compassionate country. we should be allowing in refugees. they need to be property vetted and when you hear that some of the evacuees participated in the terror attacks in paris that should give us pause to examine

them further. it should be settled with countries with compassion that take them in. i don't think it's bring them in or don't bring them in. we have to bring them in amid properly vetting. >> properly vetting is one thing and registering muslims is a completely different thing. has trump lost the plot here? has he lost the race by making those comments? >> well, the american presidential election this cycle has been, i mean, you live in interesting times and it's been interesting. this stuff is giving guys like you something every single day. trump is a commentator and that's what gives him so much media oxygen. and it works. it's not a mainstream opinion and it's not going to be done. it's never going to happen. the united states does not have a religious test. that's a beautiful thing. after 9/11 which was much more serious than the isis attacks and we hope isis doesn't rise to that level there was no registering of anybody. muslims were not blamed for

anything in the united states. i live in a state hah has the second muslim population in the country. i ran for congress in a district. they are equal american citizens in every way. we're all brothers and sisters in the united states and in britain and no one is trying to single out any group. we're talking about isis, militant islam. let's not extend this to innocent people but let's not minimize who they are. they're monsters and they're making western capitals into war zones. >> monsters, your material, not ours. thank you for your time. we'll leave you with a look at how the futures are trading ahead of the open on wall street. we're expecting a softer start to the trading session. the dow jones seen off by 54. the nasdaq seen off by 18. we'll be back in two.

welcome. you're watching worldwide exchange. >> here why your headlines from around the world. >> turkey shoots down a russian fighter jet near the syrian border but moscow's ministry of defense says the war plane was not violating turkish air space. >> the united states issues a worldwide travel alert warning the public to stay vigilant against terrorist attacks. this as millions of americans prepare their thanksgiving travels. >> car icahn takes aim at xerox

calling it's shares undervalued sparking an after hours rally. >> fed chair janet yellen goes on the offensive supporting the central banks policy after an open letter from consumer advocate ralph nader says she should seek advice from her husband. >> good morning, thank you for joining us on the show. here's how markets are fairing. u.s. opens and u.s. futures with a slightly softer start. the dow jones could lose 59. the nasdaq seen by 19 points or so. this is affairly quite trading in yesterday's trading session. maybe a little profit taking after the big gains last week and a lot of people very much unimpressed by the pfizer allergan tie up. volumes also thinning out. in terms of european marks we're underwater yet again. yesterday we're off by 0.2%. today the ftse 100 is losing

another 0.8%. the xetra dax off by a similar percentage. in terms of the currency markets, lots going on today. we had a little bit of flight to safety on the back of the downing of the russian jet. that's helping the dollar yen. 122.56. euro dollar at 106. and we're also seeing a bit of a tumble in the turkish lir i can't off by around about three quarters of 1% against the u.s. dollar. also want to know you what's going on with the pound sterling against the u.s. dollar. flat on the at a. 151.17 but we saw some comments, very dovish ish comments comingm the boe saying that growth inflation skewed to the down side.

>> tiffany reports third quarter earnings. they're expected to face head winds from the stronger dollar at 8 month highs and a decline in international travellers. the stock is currently trading lower in frankfurt trading session. dorothy, thank you for joining us. the street expecting 74 cents a share in revenues of $974 million. what is your call? >> we're a little bit above that at 76 cents and 900 million in revenues but this was expected to be a muted quarter. tiffanys up this quarter. that eases as we go into the holiday season but of course as you mentioned this morning, there's the stronger dollar which will continue to impact them as well as the recent events in paris which are certainly going to ill pact spending as we move into the holiday season. >> so a lot of focus on the

fourth quarter guidance. some analysts out there say we're going to be seeing a guidance cut and this would be huge for the company given that 40% accrues to the very porn holiday shopping season. what are you expecting for the guidance specifically? >> i think it's clear, obviously the recent events in paris are fairly new. tiffany does about 12% of its business in europe. half of that comes from the u.k. it remains to be seen what kind of impact we see from local demand but i think it's important to keep in mind that demand in the fourth quarter is much more local than it is during the rest of the year. so that actually should go into their favor. the other favorable things to point out are lower commodity costs. that should help a bit as well as new product introductions that the company, that the

company has done over the last few months and as we move into the quarter they should have a much better representation at lower price points than a year ago. those are things to be considered on the positive side of the equation. >> you said of course that tiffany has tough comps itself looking backwards but what do we not know from fellow retailers this earnings season so far and what lessons can we draw from that as we head into the holiday season? >> i think so far the earnings season has been fairly mixed. you had some winners and some losers. and some angst at the high end after nordstrom reported a more difficult quarter than expected. that being said this is the jewelry category. it's obviously much more of a focal point for holiday and i would view it -- in a way it's more occasion based. it's less discretionary than the

aapparel categories are. that's something that should be in tiffany's favor as we move into a care and treatment where they do have easier compares. >> thank you for joining us. senior retail analyst and managing director. let's look at today's other top stories. u.s. retailers are searching for evidence of new data breaches as a cyber security firm is warning them about payment cuts that can evade nearly all security software. they uncovered the virus and is publishing a report today. it hasn't named any retailers that may have been targeted. they can scrape debit and credit card numbers from the memory of point of sale systems logging key strokes and transmitting stolen data. >> apple plans to launch it's apple pay mobile payment system in china by february. they recently struck deals with china's four big state run banks but apple's plan can still face

hurdles. banking and e-commerce are overseen by several agencies in china. let's look at price action. apple not opiate. >> still to come on the show, carl icahn has a new investment in xerox and may see changes in the iconic maker of copiers and printers. more on that story next only on worldwide exchange. the sudden loss of pasture became a serious problem for a family business. faced with horses that needed feeding and a texas drought that sent hay prices soaring, the owners had to act fast. thankfully, mary miller banks with chase for business. and with greater financial clarity and a relationship built for the unexpected, she could control her cash flow, and keep the ranch running. chase for business. so you can own it.

welcome back to the show. valeant has been a tough bet for many activist investors while they boosted the stake in valeant to 9.9%. another investor has seen gains being wiped out for the year thanks to holdings in the company. they said it's fund fell 8.3% during the third quarter. hurt by the plunge on questions about it's use of specialty pharmacies to market and sell certain drugs. so not looking good for many of these, wilf. >> absolutely not at this stage. of course lots of activist investors getting involved over the last 24 hours and xerox has been an american institution for more than a century but the company has been struggling for years and now carl icahn is setting his sights on the maker of printers. >> good morning.

that's right. icahn is taking a big stake in xerox. he has a 7.1% stake in the company and says that shares are undervalued. they got 8 million shares for $80 million and paid to buy more. the move makes him the second piggest shareholder behind vangard. he may seek a board seat and gattis cuss other changes with management. the stock is down 22% this year and continues to struggle with falling sales of computers and printers. last month it reported the first quarterly loss in five years and the company would launch a review of its business. in a statement the company says it's aware of icahn's investment and welcomes open and constructive dialogue with shareholders saying the board and management is committed to improving performance. burns has been trying to shift the company's focus from

traditional office equipment to a services business handling back office operations for companies and government. document management and other services made up more than half the company's top line in the first nine months of this year and last month on the earnings conference call, the strategic review is in the early stages but a sale of the company is not being considered. shares rose more than 7% after hours and today they're up 9%. back to you. >> thank you. >> the big short is finally hitting the big screen. the stars of the film based on the michael lewis book of the same name had it's premiere monday night. the movie profiles the hedge fund managers and analysts who saw the housing and credit bubble that lead to the financial crisis and bet against the market. cnbc caught up with stars brad pitt and steve carrell and asked how the movie changed their perception of wall street. >> i think what's surprising is that it's still going on now. it's going on in differ forms but the same mentality.

the same greed is good. the rating agencies are absolutely worthless and it needs to be looked at. because it could happen again. >> most everything that happens in this movie is really not embellished and the movie calls itself out what it is. so you can watch it thinking wow this all happened and this is all real and it's a little jarring in that way. >> these are your headlines. russian military jet is taken down by turkish forces near the syrian border. a worldwide travel alert is issued due to increased terrorist threats as millions of americans prepare their thanks giving travels and activists investors up their stakes. icahn becomes the biggest shareholder in sooxerox. we'll be back in two. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on

everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet?

hi watson. annabelle, your birthday is tomorrow. i'm turning seven. what did you ask for? a princess. and a pony. you like things that begin with p. i like pink frosting too. will you have a cake? yeah. i was too sick to have one last year. the data your doctor shared shows you are healthy. are you a doctor? no. i help doctors identify cancer treatments. i want to be a doctor someday. i can help with that too. watson, i like you.

yesterday is mixed to down. today more meaningfully down which mirrors what we've seen in european trade where we're down shy of 1%. the s&p down 5 points and the dow down 68 points and nasdaq down 21. >> turkey downed a military jet near the syrian border. they warned the jet a number of times before taking it down for a violation of turkish air space. the russian defense ministry through the ria news service refuted those claims saying no such violation occurred. tv images emerging out of turkey showed two pilots parachuting before the jet crashes into mountains. let's have a look at the market reaction. losing quite a bit of ground. the dollar is higher by 0.6%. let's also have a look at the equity markets in russia.

it's looking like this. we're off by two and a quarter of 1% and this is also fuelling safe haven buying and also a flight to oil. we're seeing a little bit of a geo political premium in oil markets. brent crude up by 1% and wti crude up at 4211. that said the dollar is weaker today. that's helping the commodity prices and certainly those comps coming from saudi arabia yesterday. >> indeed a lot of uncertainty yesterday and disagreements on whether this was syrian or turkish air space. a spokesperson saying it's too early to say if the downed plane would damage russian turk i relation which is sounds like a muted statement. more to come on them from that front there but still no emission in the right of course so maintaining that disagreement.

>> they wonder whether it was heard by the pilots. whether was communication. >> the timing of course was of course trying to find a consensus on how to deal with isis. the timing could not be worse. >> now the u.s. state department issued a global travel warning. the authorities said it's likely several groups including islamic state and al qaeda and boko haram will continue to plotter error attacks across multiple regions. tracie potts is there for more. >> good morning, this preholiday travel warning itself isn't

unusual but the fact that it is specific and it references these recent incidents is certainly something that americans need to pay attention to. it's a worldwide travel warning for americans, especially those travel ago broad referencing the paris attacks, the mali hotel attack, the jet brought down that isis claimed responsibility for. officials urge us to tell you that there's no new intelligence and no credible threat leading to this but they think americans need to be a lot more vigilant when traveling overseas and especially when it comes to transportation which they mentioned here. anywhere in the public, big holiday festivals they're urging people to stay in touch with their family and specifically that there is an increased risk of attacks from isis, al qaeda, boko haram and other terrorist groups using either conventional or nonconventional weapons. they also warn about people that may not be specifically

connected to those groups but attacks may be inspired by those groups and these attacks last all the way through the end of february. >> thank you very much for that. >> all right. fed chair janet yellen is arguing for a cautious approach to the pace of rate hikes in an unusual exchange with u.s. consumer advocate ralph nader. she repeated that the central bank should only raise rates fwraj yulely. nader published an open letter asking her to consider humble savers frustrated with the low rates and debate on when to move higher. he suggested she consult her husband about what to do. in her response she did not mention her husband or nader's suggestion. he's seen a lot of criticism for the fact that he said yellen should be consulting her husband. many perceive it as being a very sexist comment and she didn't respond.

i'm surprised she did respond to that letter in the first place but she didn't mention her husband at all. >> no, because she didn't mention that particular sort of comment means she has come off as the bigger person. >> the fact that she responded at all and didn't wait it shows there's a level of uncertainty in her mind and the fed's mine as to what the best course of action is and it comes back to what we said so many times, no sennal banker wants to do the hike too early and even though in relative terms the data suggesting they have to give it a go in december there's that nerve. there's that nerve in the u. s. and yellen doesn't want to be the one that goes too early if they have to retract later. >> fed fund futures pricing in a 74% chance of the first rate hike happening in the month of december and tile and time again people said maybe they're just hiking for them to be able to lower rate ifs the economy takes a turn for the worse.

it's probably not the baseline scenario for a lot of people because we're expecting 2 to 3% gdp growth. we see that revision later on today. that certainly is an opportunity and maybe in hindsight this is something that helped the situation. >> but also the biggest opportunity is where they managed to get expectations in investor's minds. investors are expecting it. it's not going to come as a massive surprise. now back in september, the sell off globally they weren't expecting it. even if they wanted to they realized it would cause a massive stock. despite the relative fundamental data this is their chance to give it a go but there's still the uncertainty of what happens. >> probably priced into euro dollar as well. we're running out of time so we'll let the debate continue on the other side. that's all from worldwide exchange from london. >> up next squawk box u.s. we'll be back here at the same time, same place tomorrow. bye bye. [sfx: bell] [burke] it's easy to buy insurance and forget about it.

but the more you learn about your coverage, the more gaps you may find. [burke] like how you thought you were covered for this... [man] it's a profound statement. [burke] but you're not even covered for this... [man] it's a profound statement. [burke] or how you may be covered for this... [burke] but not for something like this... [burke] talk to farmers and see what gaps could be hiding in your coverage. [sfx: yeti noise] ♪ we are farmers bum - pa - dum, bum - bum - bum - bum ♪

good morning, the state department issues a worldwide travel alert days before the thanksgiving holiday raising a red flag on the threat of more terrorist attacks. carl icahn takes a stake in xerox calling it undervalued. and ackman isn't giving up in valeant and backlash from congress to the campaign trail. politicians from both parties are upset about the big pfizer aller dpr allergan deal for its tax avoiding goals. that's not exactly correct. squawk box begins right now.

>> live from new york where business never sleeps, this is squawk box. >> good morning, everyone and welcome to squawk box on cnbc. breaking news, turkey shoots down a russian war plane with the border with syria. the fighter jets fired after the russian plane violated their air space. russia confirmed the war plane went down but it said it was shot down by ground fire. a state run newspaper reports the kremlin maintains it was flying above syrian territory and not above turkey. here at home the u.s. state department is warning a risk to americans traveling abroad. the travel alert issued because of increased terror threats overseas. terrorist groups like is