hi, everybody. good morning.watching "street s" the fed decides to keep rates steady. >> we judge that the case for an increase has strengthen but decided for the time being to wait for further evidence of continued progress towards our objectives. >> shares in maersk go higher after they split their energy business from the transport division. and powering down.

edf shares fall as they cut their earnings guidance due to nuclear outages lasting longer than expected. rocket energy shares get a boost, and remains on track to meet profit targets despite a first half loss. we've got another rate decision to tell you about. it's up in norway, they have left a key rate unchanged at 0.5%. there was wide consensus this was going to be the case. wanted to show you what the currency is doing. going into the meeting that was some dollar weakness, the krona is roughly 1% stronger now against the u.s. dollar, in part because of that cut but also because of some dollar weakness because of the fed. no surprise here. the krona hitting a high of

9.18. strengthening against the dollar and the yeeuro. the current assessment of the outlook suggests the key rate will most likely remain at today's level in the period ahead. again, there was expectations that the rate wasn't going to move. >> on top of that, they're talking about their non-oil gdp growth, they say at 0.9%, versus the forecast of 0.8% in june. and core vpi at 2.7%, verses a june forecast of 2.3%. they're so heavily relying on toil, the norwegian economy. if it wasn't for oil, where would they be? >> any other industry? >> fishing. salmon. >> you're right. warm other but not warm enough.

the federal reserve says the case for tightening has strengthened, but the decision was more divided than what the fed chair janet yellen would have liked with three dissenters. janet yellen did highlight the risks of waiting too long. speaking at the press conference she expressed concerns about bubbles forming in the economy. with the next decision less than a week before the u.s. election, janet yellen insisted that politics never comes into the fed's deliberations. >> the fed shows individual members have lowered expectations for rate hikes in the year to come and a wide divergence in views from the june meeting. one key takeaway is we did get the three dissenters, and that

really got attention. i should add that all of these lose their voting power going into next year. doesn't mean very much. rbc pointing out in a note, having three fed members dissent tells you nothing about the direction of policy in the months ahead. if you look at history, that was never a great indicator. so forgot about the three dissenters for now. >> completely agree. looking at what they said, the risks in waiting too long and signaling that this dot plot decreased sharply, the amount of cuts expected in 2017 and 2018, it looks like we'll have a slow pace once we start hiking. >> a glacial place, slower than what we expected last year. didn't we expect in december last year, there would be two hikes this year an everyone thought that was slow? what's this now? that is glacial. >> super slow. the fed fund futures pointing to a 60% probability of a hike in

2016. with just two meetings left this year, she left a likely change by the end. >> one increase in the fed funds rate would be appropriate this week. i would expect to see that if we continue on the current course of labor market improvement and there are no major new risks that develop and we stay on the current course. >> we are not seeing strong pressures on utilization suggesting overheating. and my assessment would be, based on this evidence, that the economy has a little more room to run than might have been previously thought. that's good news. >> so glancing at european equity markets, we open on a higher note and are still hanging on to a bit of buying an hour into trade. the stoxx 600 showing that.

we got it out of the way. we got the bank of japan out earlier this week and it seems we got what we wanted, more central bank support. not sure that's the direction we want to be heading in the long-term, but the banks are with us for now. you have the european markets all trading in positive territory, except for denmark. we'll get on to the maersk story in a bit. denmark lower by 0.3%. the sectors out there where we're seeing the majority of the buying at the moment, we are become led higher by oil and gas, higher in auto and basic resources up by almost a full 2.8%, almost 3%. gold miners, you are definitely seeing buying into the mining sector. as seen here on screen. all of them trading up by 2 1/2, 3% or so. that trade continuing. >> why? because of the weaker dollar. they're cheering that. >> weaker dollar. and maybe global growth, not as

bad as what could have been feared with the china story. >> very true. let's get out to managing director at charles schwab. good morning. >> good morning. >> do you think the fed booked itself in boxed itself into a corner by not hiking yesterday? >> i think they have. you talk about getting these meetings out of the way. i wish they got the rate hike out of the way as well so we wouldn't spend the next three months talking about that. that's the biggest problem with the fed. they're using communication as a policy tool and there's not a concerted effort to go into the same direction. clearly over the next three months, every time there's a meeting, we'll try to figure out what signal is being sent and the credibility issue as well. jackson hole, janet yellen walked the fine line. stanley fischer said two rate hikes before the end of the year. we backed off in september. 25 basis points is not going to throw the u.s. economy out of

bed. i wish she wouldnthey wouldn't of their own shadows. >> you just reminded me we'll have another two, three months of fed speak. i don't think i can take it anymore. for investors that means more volatility, right? >> i've been watching the fed since greenspan, and greenspan used to confuse, but is that any worse than what we have now? one paragraph is what we used to get from the fed. now we get press conferences which last an hour, then the long statement as well. so i don't know which one is better. more communication or less. i would lean towards less and action. >> i would do you think they didn't hike? why weren't more on the side of the three dissenters? >> this is something they talked about, the asymmetric impact of what they do. there are more dangers in moving too son than staying too long. they think if they move too soon they could tighten markets.

i disagree. i think if you hike rates, it shows a degree of confidence in the u.s. economy. one thing i'm glad about is that they didn't refer too much to the weakening of the data we saw in august. it was august. you do tend to see weaker data in august. i was disappointed about their medium to long-term projections coming down. >> when you look at the u.s. equity markets now, talking about this yesterday, too, do you think there's enough momentum to continue to push them higher and let's add the dollar into that bag, too. are we going to continue to see momentum here? >> i think so. a question i was getting in august from clients is about the bear market. will we move into bear market territory? i don't think so. we've got the leading economic indicators today, which are ten different indicators which show the economy is continuing to power up. and earnings hopefully will break that six quarters of negative earnings we've seen.

maybe not quite in this quarter but possibly in the next. that could offer another tailwind to the stock market. >> how do you feel about bonds? fitch saying the global universe of negative yielding sovereign debt fell to only $10.9 trillion as of september 12. leads for longer, data debt have been picking up because of the steepening of the yield curve. people say that might be a harbinger of the bond bubble bursting. what do you think? >> we encourage people to be at the longer end, and there are other asset classes where it's easier to make money. >> what about credit? >> credit, again, with the question about the fed moving still open, credit is still questionable as well. i would stick with the stocks at the moment. >> are you sure? on the other hand we see wages rising in the u.s., that means profit margins will be

depressed. it's a completely different picture in europe, because wages are not rising by as much. >> they are rising from a low base and then demand raising as well. consumer spending was weak for august and july. but that was a temporary blip. as demand picks up, as you see costs start to rise, companies will be able to make them. >> you referenced the general froth story, when you talk to clients at the moment, it does seem fund managers are trying to figure out where do we get the best amount of yield at the moment? will we continue to see this money piling into the bond market? what are your clients saying? what's the general mood? are they wanting to invest? are they sitting tired or on cash? >> we represent individual investors and we hear i'm waiting. we keep asking what are you waiting for? and a new term i learned is t.i.n.a., there is no

alternative. i would find it hard from a risk/reward profile to find another alternative to u.s. stocks right now. from a risk/reward profile i think u.s. stocks is a place to be. >> thank you very much. >> thank you. the fed decision left some people out there speechless. did you know? one of them was bill gross. head to our website to find out why he's hardly able to speak after the fed decision. >> just all the excitement. >> oh. i doubt it. >> bank of japan, can hardly speak. sitting, waiting for it. another thing that's left us speechless this morning, maybe not, speculating about it for quite some time, shares in maersk trading higher after the group announced its splitting its oil and oil related business from transport and logistics division. they say they're restructuring to allow each division to focus on their respective markets and insure a strong capital

structure. last month maersk's cfo said they had little visibility on the outlook for the shipping industry. >> we look at the overall market, when we look at supply and demand and growth in the world, we think it has to be low growth and volatile. for us, like always, we have a view on a couple weeks, three, four weeks indication on where the market is going. after that it's very opaque for us as well. >> it's been speculated about for a long time about how to best extract shareholder value in this environment when you have all these companies dealing with lower growth environment, lower oil prices. all of it bundled together and you have bigger issues and questions. it's a tight family business. th traditionally in denmark it's tightly run by the family. that's changed, and people are speculating that it might go

back to be more family controlled now given some strategic changes happening from within. >> that's an interesting thought. on the other hand i would expect more m&a to take place in the industry. we have seen a big deal in china and looking at a credit suisse note they point out for the liner industry we're still quite far away from the ideal structure. the fact that it's a top five in the line of industry control 50% which is short of credit suisse's view of ideal structure where three or four players control 80%. they say the direction of travel is positive but i think there will be more consolidation in the space. that's something that maersk eluded to this morning in their press release. >> completely agree. we will have to see consolidation if they see this low growth, slow growth environment. the amount of tankers and the amount of shipping capacity as well has come down massively. the amount of demand.

>> the players have come down, too because of hanjin, hanjin going bankrupt, so some rates in the shipping industry popped to the upside a bit. now shippers are looking for higher quality shippers. >> unreal how big these things are. have you ever seen one? >> up close? yeah. yeah. >> huge. >> enormous. >> massive. it's like a sikyscraper lying down. >> get in touch, we're on twitter, and still coming up, we hear from the president and ceo russian investment group sistema. [click]

[click] man: ♪ you're beautiful ♪ i'm coming back [clicking] ♪ back to you it's a very specific moment, the launch window. we have to be very precise. if we're not ready when the planets are perfectly aligned, that's it. we need really tight temperature controls. engineering, aerodynamics- a split second too long could mean scrapping it all and starting over. propulsion, structural analysis- maple bourbon caramel. that's what we're working on right now. from design through production, siemens technology helps manufacturers meet critical deadlines. i think this'll be our biggest flavor yet. when you only have one shot, you need a whole lot of ingenuity.

you're watching "street signs" with caroline and myself. fed fund futures show markets pricing in a rate hike in december. jeffrey gunlap is not convinced by the odds. speaking to the fast money show, he flagged potential risk events ahead. >> i think december is a huge who knows at this point. think about the magnitude at which the fed guessing for today's move or non-move changed for the past three months. now we have three months which includes three presidential debates, an election this is highly unknown what will happen in december. i'm not surprised the work function that shows the embedded probability of the fed moving from the short end of the bond market is at about 50%. that's probably what any rational person would put the odds at because there's too wood

to chop economically and politically between now and december. >> what has the impact been on the asian markets overnight? sri jegarajah joins us. happy autumnal equinox. >> we're all celebrating here. that's another story. quite a strongies-on rally in the asian markets. a slow motion fed akin to the preverbal painting a wall, the markets like the fact that it's a slow and steady pace of appreciation. so nothing necessarily disruptive at this point. as mr. gundlach pointed out. it's a different paradigm from three years ago when we were on the front line. a lot of these emerging markets

have tidied up their house, the balance payments points of view. so they're in better shape to absorb a high rates environment. in the here and now, the markets enjoying this risk on crally. the next risk is a trump presidency, and what that means from a trade arena, especially from u.s./asia trade. here and now, we're benefiting from the fact that we will be enjoying near zero rates for that much more longer. not a great deal else to say. we are watching this through the prism of dollar yen. the japanese markets are close to liquidities, but we are on a collision course for the century handle in dollar/yen, there's a risk we could dip below that sooner rather than later. >> sri, thank you very much. rocket internet posted a first half net loss of 583

million euros. net revenues at the key portfolio company improved, growing by 32% on the year. rocket said it is on track to meet profitability targets and sees three companies turning profitable by the end of 2017. shares down by 32% this year, hit by heavy write-downs on startups. edf cut its earnings outlook for 2016 as it extends refueling outages. the french state controlled nuclear power firm reduced the top end of the expected range by 200 million euros to 16.6 billion euros. the company says additional safety controls would mean lower production in 2016 which reduces its earnings power. you have to wonder whether that means higher production in 2016. so we might see a catch up effect in 2017. it hit shares hard today. the stock was the second top faller in the stoxx 600.

it's down 22% so far this year. that's quite some underperformance against the rest of the sector. even though the good news, many people would argue good news, some argue bad news is hinkley. >> it seems that nuclear is making a comeback, paving the way for other sites to be worked on in the future. a lot of the old ones are closing down. so hinkley will be delivering 7% of all uk electricity once the plant is up and running. so that's one issue. the other issue is there are a lot of people saying it's so expensive, way too expensive it should have never gone ahead and had this guaranteed high price for electricity that in reality the consumer is the one that will suffer in the end, having guaranteed the price for 35 years of electricity?

35-year price guarantee. now people are saying maybe the deal is not that smart. >> for edf, long-term it may be positive. now sticking to oil and energy, iraq's opec representative has said that the current market situation makes it more likely that opec members will reach a deal aimed at shoring up oil prices at a meeting next week. some top producers like venezuela have been vocal supporters of coordinated action to limit crude oil output and lift prices. others including the uae have been damping expectations saying members should not make hasty decisions. the managing director at tutor pickling holt and company joins

us. let's start out broad brush. opec and this meeting in algeria. we're talking about whether anything is going to come of it or whether it's all hot air and maybe some verbal i'm intervthi oil intervention at this stage. >> i think something will get done this time around. when you look at it, some of the parties against the deal, the likes of iran, iran is probably topping out now in terms of production capacity. russia is probably surprised to the upside this year, but seeing signs that the russian capacity is topping out. the key nations that are worried about freezing production don't have much more to give. the areas that could come back, not too much concern about, incorporating the likes of nigeria, libya, where you got some severe problems in play. i think there is a good chance of a deal being done. >> i'm curious what you think

about maersk's announcement to split up the company. it's been widely expected, both divisions are struggling. the oil business obviously impacted much by the drop in oil prices. do you think it's a desperate move? a move that makes sense? >> looking at it from the oil market perspective, i think you probably got some conglomerate discount in maersk for having businesses together. you don't have many businesses where you have a drilling business with an upstream business together. i think being able to separate these out makes sense over the long clearly in the short run the drilling business is going to be difficult, difficult to ipo or sell to another competitor. what i think is more interesting is the upstream business. if they lift that iopo that, it

will be one of the biggest if not the biggest european stocks it will give european investors another option to invest outside of the major because at the moment there's few options. a lot of the existing emp companies have declined in size. >> it is investor day today, r barons put out a piece saying they had a past difficult few years with the charismatic ceo dying in a plane accident, a new ceo taking over, do you think they're heading in the right direction from a strategic point of view? >> i think it's going to be an interesting strategy presentation today. total puts out earlier this year

its ambition to become the responsible energy major. not sure if that's saying everyone else is irresponsible or not. the goal of that is to move more towards renewables away from the oil-based production. i think there's skepticism around it. you've seen the performance of sunpow. and the renewable space area has been checkered. there may be skepticism around that. also lack of oil opportunitoppo. >> thank you very much more being with us. all right. coming up on "street signs," geoff is still in moscow with an exclusive interview. geoff? >> yes, thank you very much for

that. as the russian economy gradually begins to improve after the impact of sanctions, we're looking at areas where there might be strong growth going forward. so we're in a hospital here in moscow that belongs to mikhail shamolin from the sistema group. he will tell us when we come back why healthcare could be one of the new darlings here in russia. narrator: adventure can be found anywhere but the best place to start is in the forest. kubo: i spy something beginning with..."s" beetle: snow. kubo: no. beetle: snow covered trees. monkey: nothing to do with snow. narrator: head outside to discover incredible animals and beautiful plants that come together to create an unforgettable adventure. kubo: wow! narrator: so grab your loved ones monkey: don't even. narrator: and explore a world of possibilities. kubo: come on, this way. narrator: visit discovertheforest.org to find the closest forest or park to you.

it's scary when the lights go out. people get anxious and my office gets flooded with calls. so many things can go wrong. it's my worst nightmare. every second that power is out, my city's at risk. siemens digital grid manages and reroutes power, so service can be restored within seconds. priority number one is keeping those lights on. it takes ingenuity to defeat the monsters that live in the dark.

welcome. you're watching "street signs," i'm carolyn roth. >> i'm louisa bojesen. your headlines -- >> higher on a hold. the european stocks trading in the green after the fed keeps rates steady. >> we judge that the case for an increase has strengthened but

decided for the time being to wait for further evidence of continued progress towards our objectives. >> norges bank follows suit saying a cut is more likely than a hike. shares of maersk go higher after the shipping giant splits the energy business from its shipping business. and edf cuts its guidance. futures pointing to a slightly higher open. the s&p 500 seen up by a half point the dow jones could add on 13 points. the nasdaq expected to add on 5 1/2 points after a record close for the nasdaq yesterday, up more than 1%. similar increases for the dow jones and s&p. this was the post-federally.

all as&p sectors closed higher. in the european equity markets, enjoying that post-fed bounce that we witnessed in the asian trading session. the dax adding on 1.3%. less for the ftse 100. by in large, oil and gas and basic resources are driving that rally in part because of the weaker dollar and that jump in oil prices that we saw yesterday. crude having the best day in two weeks given that large surprise draw in u.s. inventories. that's the third week in a row that we did see a confounding outcome out of the inventory report. you know what? it might be special effects. let's look at the bond markets. some buying, that's thanks to the fed and seeing the ten-year german yield back in negative territory. we're seeing the ten-year uk

do down, and the bank of japan has fizzled out quickly. cable at a one-month low at 130.76. so broad based dollar weakness today. boding well for russian businesses. s&p upgrade the its look on russia and russian financial institutions. geoff is in russia with the ceo of sistema. hi, geoff. >> good morning. we've been here all week having another look at how russian business is faring given that the expectations are that this economy may print positive growth rate for the third quarter and may deliver full-year growth in 2017.

after quite frankly two miserable years as the sanctions regime imposed by the west has bitten on the economy. i have a great man to talk to about where the potential is in this economy. mikhail shamolin is with me from the sistema group, an investment conglomerate, some compared it to russia's ge. i'm here in front of a body scanner. this is one of your opts. tell us a bit more about why this hospital is special as part of your medical group. >> it's a brand-new building. almost 23,000 square meters. it's fully equipped with the latest equipment, and this is one of the pieces you're looking at. it has two best quality operating theaters you can find in moscow. around 30 beds. they will have about $400 when it is fully equipped and able to service around 1300 patients a

day. >> what do you think the potential growth rates are for this business within the sistema group? right now if you look at the group operations, it's a tiny contributor to revenue. but obviously you feel it's important to be in this sector. >> we believe it is double digit growth potential and multiple billions of market cap for two reasons. one reason, about 100,000 people from moscow area have gone abroad getting treatments abroad in switzerland, germany, israel, and have taken -- >> all right. we seem to have slight technical difficulties. we'll try to restore that. cross back out to jeff if we can. on top of that, let me mention we will be keeping the central

bank ball rolling with an exclusive interview with the central bank of russia, elvira nabiullina. >> i think we reestablished that line. >> we have. >> let's go back out to geoff. >> thank you very much. technology can be very irritating sometimes. i tell you what we'll do, instead of remaining stationary, because it could be the body scanner that is affecting the signal, we will go for a walk and show you more about the hospital with mr. shamolin. so this medical facility is one part of the business, but people will better know the growth from nts, the telecommunications company. this is about 60% or so of the business? what do you think the outlook is in that segment given how competitive mobile telephoning is even in this marketplace?

>> mobile telephony has been a stable, slightly stagnating business over the years. the strengths of nts in russia, very one, strong management team that we have built over the years. this management team has been able to maintain leadership of nts despite the competitive pressures. >> let's go in this room. i know we have an x-ray scanner in here which might be interesting for the audience to look at. outside of that, you're in agriculture, which has done well from the internal focus on the economy. you're in retailing, of course, and paper and pulp. which of these businesses do you think over the next 5 to 10 years has the most potential to grow quickly? which are the real darlings? >> all four are darlings, retail, if we've had 37% year o year growth in the last few

years. pulp and paper, 40% growth. agriculture did not exist years ago, and next year we're planning to double this. those are the four horses we're planning to ride in the next few years to build up our portfolio. as you said, nts occupies around 60%, even though it will maintain its marginality and revenue, those businesses will grow and we'll soon make mts less than 50%, perhaps less than 40% by 2019. >> the stock has done well this year. you're up about 15% across the 12-month story, but you've not just been focusing on those businesses. i know you have private equity funds you invest in into technology, maybe those with a bit of medical knowledge will recognize this may not be the latest and the smartest. let's walk through to your other x-ray room which is connected.

we can have a look at the other x-ray facility here. you have been investing in new technology start-ups here in russia. how active is that market? i know some people have been concerned that it may not have done so well because of the sanctions regime. are you finding technology businesses here to put money into? >> yeah. we have a fund called sistema venture capital. we invest around 2 billion rubles of cash and other assets, we attracted partners, so a fund of 10 billion rubles, and we're finding quite a significant number of high quality start-ups that we're investing in. we have a leading player in facial recognition which is a global trend. we invest in another company which does data mining and data transfer, which is very applicable to mts and mts bank. in fact, we find less investment

demand for those and less competition which plays to our ben fet becauefit because we ar the good guys in this market. >> there will be western investors who are willing to look deeper and maybe want to go directly into the property market, either here in moscow or across russia. again, it's been a hard market to be in as a result of the sanctions regimes. one feels the banks are now a bit more liquid. there is more money coming back. what do you think high-end and middle level property will do in the moscow market? how active are you there? >> yeah. first, it depends on how efficient you are and good you are at what you're doing. number two, the sanctions regime is very much overstated. if we take 100% issues that exist in the russian economy, i think 5% are sanctions related, 95% are not sanctions related,

and related to the reduction in the price of oil, which the russian economy is restructuring itself to be less oil depend dent. in real estate, we have a company that builds apartments, it has about 40% margin right now. it depends on which areas of the market you're focused on and how good you're doing. overall we're contributing in sistema, 20%, shareholders. so we can't say we're doing badly. >> i want to come back to the medical story. let the audience know, neither of us put ourself on the machine for these x-rays, so these don't belong to us, in case you are a medical professional and you are looking closely. don't e-mail me and tell me there's a problem with my ankle. one of the advantages it seems to me of investing in the consumer sector here is that the state will leave you alone.

and also there are incentives. so if you invest alongside what the government wants to see grow, you can do well. it's interesting there's a tax advantage. can you tell us more about the tax opportunity there is around being in the medical space? >> the immediate tax advantage is you're not paying profit tax if you invest in private medical business and 90% of revenues are medical revenues. that's a big contribution, we can use the profit to reinvest in building facilities like this. yes, we're taking advantage of this preference for sure. >> as i understand it, you're also interested in the idea of expanding into medical hubs, but that's depend dent on what foreign doctors or foreign specialists can actually come into the russian market. is it going to get easier for those people to enter this

marketplace? >> in fact, it's interesting you ask, there was a special piece of legislation adopted last year to create moscow medical cluster. for this medical cluster or hub, which is in a specific location, it will be allowed to import foreign doctors without knowledge of russian language, use western medicine and medical practices without any alteration, and without any special certification or recertification. that's an experiment. we'll see how well it goes, and how better it is than the existing practice. then we'll take it from there. >> let's wrap it up here and get to the bottom line. the share price up about 15%, 16% over the 12-month story. people looking at the business wondering if your growth rates will be strong into 2017. people feeling a little bit more confident about the recovery at the macro level here.

are you concerned there may be anything that jeopardizes the potential for you to grow more strongly next year? how optimistic are you feeling now? >> right now we -- the only major risks are geopolitical risks which are impossible to calculate. whatever will blow in the world we don't know. how is it going to affect international politics? ruble dollar rates, boring rates, those things. that we cannot predict or account for. so we keep it in mind, but also set it aside. as far as russian economy is concerned, we are quite confident we have good growth platform because after the ruble devaluation, we have competitive advantage in most producing businesses like pulp and paper with good export potential and good growth potential including private medical care. people who used to take dollars and euros abroad to germany and switzerland, now it's twice as expensive. here we have facility which is

pretty much on par with any of the good things you can see in the west. >> that's a critical message. thank you very much for betting us wander through your medical facility here. that's an important message, i think, household incomes at the middle class level seem to be recovering. there is an appetite particularly for healthcare and private healthcare and one of the advantages of this hospital over some others that you'll find in other jurisdictions in the west is that you can subscribe as a private patient, but you can also just walk in off the street and they will treat you for you a cash payment, which, again, sort of changes the dynamic and raises the opportunity that you may have here in this sector. i will wrap it up from here. thank you very much for joining me and mr. shamolin in his hospital. we'll be here until the end of the week. talking more about russia

tomorrow as we try to give you an updated health check on the state of the economy. back to you guys. >> geoff, thank you very much for that. i was hoping secretly that he was going to wear scrubs. >> i was hoping we could see those x-rays, where they find an egg beater or a cat or something left in the x-ray, or inside somebody's body. >> didn't happen. >> you are probably hoping i would lie down here an get an x-ray or something, right? forget it. not happening. >> not happening. geoff, thank you very much for that. what's coming up tomorrow? >> the governor of the central bank of russia, elvir elvira nabiullina. the bank of england has just warned the uk faces a challenging period of uncertainty following the brexit vote. the central bank highlighted risks to commercial real estate and stressed that some householhousehold s might not be able to service debt if the economy weakens. in the u.s. presidential race, hillary clinton leads republican

donald trump by six points among likely voters, that's according to a brand-new nbc news "wall street journal" poll. clinton leads trump by six points, 43% to 37% as the two prepare for the first presidential debate on monday. donald trump has been courting the african-american vote as well as more controversy. this time with regards to something said by boxing promoter and trump supporter, don king, when he introduced the republican nominee at a church in ohio. katy tur reports. >> reporter: don king is hyping donald trump in cleveland as the chosen warrior for blacks and women. >> he's the leader that will lead us to the promise land. >> every white woman should cast their vote for donald trump. >> reporter: king letting slip a racial epitaph. >> if you are dancing, sliding

[ bleep ]. >> trump arguing today that things couldn't be worse in african-american communities, a claim that civil rights pioneer john lewis disputed. >> if he fails to believe things have changed, i invite him to come and walk in my shoes. >> reporter: right now trump is polling at 7% to hillary clinton's 81%. trump questioning the female tulsa officer who killed the unarmed motorist. >> now, did she get scared? was she choking? what happened? maybe people like that, people that choke, people that do that maybe they can't be doing what they're doing. okay? >> clinton demanding change. >> i know i don't have all the answers. i don't know anyone who does. but this is certain -- too many people have lost their lives who shouldn't have. >> reporter: trump is still

fighting off inquiries in his own foundation. a "washington post" report saying four new allegations of self-dealing worth $250,000 is peppered with inaccuracies and omissions from a biased reporter, but the campaign offered no specific examples of what was inaccurate. public record showed he used foundation money to settle legal disputes and buy items that he kept, including a $10,000 portrait of trump, which appears to be hanging at his doral propert property. >> i know his tax exempt organization can use funds to benefit any insider. >> we always love hearing from you on twitter. i would be interested to hear from viewers out there, americans who will be voting, who started offer thinking i will support trump and then

switched, or started off thinking i'll support hillary an switch. why they made that switch. >> that would be interesting. >> or how many of you are still undecided. >> exactly. let us know. coming up on the show, stay tuned to find out the latest from the big names of the fashion world straight from the catwalk of milan's fashion week. more after the break. [text message alert rings] [texting keystrokes]

welcome back to the show. fashionistas have moved on from london and gracing catwalks in milan. claudia is one of them. it's so important even the prime minister is attending. >> yes. the prime minister did want to give his blessing, so to speak, for this fashion week. the second time he inaugurated the fashion week. he promised to continue to do so to demonstrate his support.

yesterday in launch he gave that support saying he would like to see this sector flourish and emphasize the made in italy concept going forward. he talked about fashionistas moving on. they are moving on from where i am standing, the maxmara floor. back behind me is about to be dismant dismantled. it is amazing how quickly it goes and how costly it is nine mines worth of time on the catwalk can cost hundreds of thousands of euros, sometimes millions. this is italy's week. 150 events going on in the six-day period. very, very busy. one of the sectors that continues to be extremely glamorous. gigi hadid, i was with her moments ago and teamed up with

maxmara. she has 22 million followers on instagram, so this business counts on this type of visibility they're getting. the italian fashion system has to deal with that. while business is growing up 2.5% from last year, the first six months of this year up 2. %. exports growing by 2.8%. still means we have to continue to struggle. it's a difficult time economically speaking in italy and globally, but the sector is undergoing a deep transformation. for italy this means after many brands sold in the last years, between 2000 and 2010, all of these brands selling off to bigger groups, now brands left have to go through generational changes and have to work hard on how to get through this difficult time. one of the brands is roberto

cavalli, and the new creative director, we met with him. this is what he had to say about the collection that went on yesterday. >> milan has one of the biggest textile industries in the world. of course it's one of the most important if not the most important. there's a new energy here, i'm happy to be a part of it. >> you're one of the new designers, one of the young talents. how do you see the chance for young talents to emerge many this context? >> i think it's a really great time to be a new designer or somebody who is part of a new generation, if you will. it's like you kind of ready again to see new things, see a new energy. see new names as well. >> so, as for the business of fashion, we're seeing again, as i was saying, many italian brands going through transformation, like versace and valentino talking about possible

ipo in 2017, putting off from the original date of 2016. while italian fashion stocks have been on both sides of the fence, mt. claire up 20%, ferragamo flat, and toths losing some. just a plain fun of it here, so far just so you girls know, back in london the big show that everyone was excited about was guc gucci, that collection getting a lot of good reviews here in milan. >> thank you very much for that. >> gucci always sounds good. >> make a note to self. boeing and airbus have been given the nod by the u.s. government to deliver jetliners to iran air. this is one of the most important trade developments since sanctions were removed from the country last january. boeing and airbus have lost 4% of their value in the past year.

european equity markets, enjoying the post-federally. the dax pushing ahead to 1.3%. cac 40 at the same amount. u.s. futures, expecting a slightly higher started to the trading session. the dow jones up by 22. the nasdaq could add on 6.4 after hitting another record close yesterday. that's it for today's show. hope you enjoyed it. you can always find us on twitter, and we'll be back tomorrow with more. from "street signs" nfor now, have a lovely day. "worldwide exchange" coming up. everyone thought i was crazy to open a hotel here.

everyone said it's so hard to be a musician, but i can't imagine doing anything else. now that the train makes it easier to get here, the neighborhood is really changing. i'm always hopping on the train, running all over portland. i have to go wherever the work is. trains with innovative siemens technology help keep cities moving, so neighborhoods and businesses can prosper. i can book 3 or 4 gigs on a good weekend. i'm booked solid for weeks. it takes ingenuity to make it in the big city. bacteria can hide in food and make you ill. wow! announcer: but you can keep bacteria from ruining your day with 4 simple steps: clean, separate, cook, and chill. the roadchip to food safety starts at foodsafety.gov.

good morning. stocks rising around the world today as the fed kicks the can on raising rates. under pressure on capitol hill. mylan's ceo defends her company's epipen price hike. and decision 2016. a new nbc news poll finds hillary clinton leading donald trump nationally but the race continues to get tighter. it's thursday, september 22, 2016, "worldwide exchange" begins right now. ♪ good morning. welcome to