good morning. you're money you're vote. hillary clinton and donald trump square off in the first presidential debate. we'll bring the highlights. markets now, stocks rally around the world and u.s. equity futures are pointing to a big gain on the open for wall street. plus calling it quits at perry capital one of the nation's best known hedge funds is cutting its losses and shutting down its flagship fund. ice tuesday, september 27, 2016. "worldwide exchange" begins right now. ♪ good morning and very warm

welcome to "worldwide exchange" on cnbc. i'm wilfred frost alongside morgan brennan who is in for sara. >> happy tuesday. >> our top story the presidential debate. hillary clinton and donald trump sparring on a range of topics from taxes and trade to homeland security. >> under my plan i'll be reducing taxes tremendously from 35% to 15% for companies, small and big businesses. that's going to be a job creator like we haven't seen since ronald reagan. >> the kind of plan that donald has put forth would be trickle down economics all over again. in fact, it would be the most extreme version, the biggest tax cuts for the top percent of the people in this country that we've ever had. >> much more on the highlights from last night's debate in a minute. first let's get up to speed on the market action. this morning 10 out of 11 s&p sectors in negative territory.

for each of the three main indices, banks the worst performers dragged down really by banking performance in europe but also just a continue jays of the volatility we saw last week following no hike from the fed. though we are expected to bounce a little at the morning, the debate in part cited a reason for that giving a little positive impetus. the dow went higher by 40 points. quick look at the ten year note. away from 1.75% and now away from 1.6%. we're at 1.528% a traditional risk off day selling equities, buying bonds, pushing the bond down. >> european indices turning well. german dax is down about 0.7%. french dax is down 0.4%. and the ftse down 0.2%.

we're seeing some losses after opening higher in european equities this morning after the presidential debate with markets largely claiming clinton the winner. we saw bank stocks were gaining a bit earlier. that was a reversal after yesterday's losses. that's when the stocks dragged lower by the situation at deutsche bank. asian equities as well, we're seeing higher trade, a higher session there. the japanese nikkei is up about almost a point, almost a percent and that's with the yen stronger against the dollar, again on the heels of the debate here in the u.s. last night, the hang seng is up about 1% as well and the shanghai composite up a%. >> having looked at broader markets oil prices gained nicely yesterday ahead of this algerian meeting taking place but they

are slipping now today following 3% of gains yesterday. wti down the best part of 2%. the there are, slipped again yesterday. 0.2% against broader index. as we look at things this morning it is more flat, it's not doing much. slightly stronger against the euro and the yen. gold prices very quickly for you just to round things down, prices soft. now back to today's top story the first presidential debate our john harwood was in the hall last night and joins us from new york. john. >> reporter: we had a consistent pattern of contrast in the debate last night. hillary clinton was focusing on personal questions about donald trump. donald trump was going after public policy failures over the last couple of decades. hillary clinton, of course, is the establishment figure. she's been first lady, secretary of state, u.s. senator of new

york, her husband was president of the united states. he tried to put her on the defensive saying problems with the economy, problems with national security her fault. she came back hard and one of the issues that she used to do that was to press him on why hasn't he released his taxes. >> maybe he doesn't want the american people all of you watching tonight to know that he's paid nothing in federal taxes because the only years that anybody has ever seen were a couple of years when he had to turn them over to state authorities when he was trying to get a casino license and they showed he didn't pay any federal income tax. >> that makes me smart. >> reporter: so here's how donald trump came back on that. he looked at the state of the country, the state of the economy, the state of american infrastructure and said to hillary clinton, why haven't you fixed it? >> we're a debtor nation, serious debtor nation and a country that needs new roads, new tujs, new bridges, new airport, new hospitals and we

don't have the money because it's been squandered on so many of your ideas. >> maybe because you haven't paid any federal income tax for a lot of years. and the other thing i think is important -- >> it would be squandered too, believe me. >> reporter: now who came out ahead on net if you look at the betting markets they said that hillary clinton took a step forward towards the presidency last night. one indication that donald trump did not have the better of the exchanges last night transparent complaints of republicans that certain topics didn't come up sufficiently, benghazi. e-mail wasn't pressed sufficiently on behalf of either moderator or donald trump himself for that hart. rudy giuliani came into the spin room and even suggested that he might recommend that donald trump not participate in future debates. so this was not a step forward for donald trump. he needs to expand his base of support. he's behind hillary clinton. and the question is can he use

the next two debates if he decides to participate to make up that ground? >> john, you were talking yesterday about the gore-bush election and the way bush used that first debate to close a big debate he had in the polls. by the second he was two points ahead. was trump needing that sort of blow-out successful performance which whether you say who won slightly last night he certainly didn't win by a big margin. was he needing that type of performance and failing to deliver it. is that a big blow to his campaign? >> reporter: i wouldn't say so. he didn't need dramatic movement. he narrowed hillary clinton's advantage in the polls. what he needed to do more than anything else was to show a critical group of voters who have been waviering, who don't like either one of them that donald trump is worth the risk of being put in the oval office.

he needed to display he was more presidential in temperament and knowledge of the issues. i don't think he was able to do that. his answers on policy were rambling and sometimes off point. and on temperament he was reduced at one point to saying, asserting, i have a great temperament, my greatest strength. if you look at the polls 60% of the american people say he doesn't have that temperament. he needs to persuade people rather than simply asitter. i don't believe he got that job done last night. >> john that temperament comment sent social media flying, buzzing in terms of that commentary. but as someone who has been covering these types of elections for a while what was the most surprising or unexpected part of last night's debate? certainly this has been a nontraditional election so far. was there anything that was surprising to you in terms of that last night? >> reporter: hillary clinton did not surprise me. i expected that she would be very well prepared and i

expected that she would try to keep an even keel throughout the debate not rise to provocations from donald trump and she did not do that. she tried to do a good job of smiling, of not having reaction shots to when donald trump was talking that indicated that she was pained or irritable. donald trump surprised by by the extent he became exasperated by the conversation. he came out and said i never admitted wrongdoing. i think the tax discussion was a challenge for him when he was pressed by hillary clinton on why he had not paid some contractors who worked for him. he said well maybe they didn't do a good job or why he used bankruptcy laws. he said i used the laws of the united states.

they appeared to be a candidate -- he appeared to me a candidate who has made uncomfortable by scrutiny and the fact that he showed that was a surprise to me. in the beginning of the debate he came out and was a little more supple than he had been on some issues. when he pressed her on trade and started talking about economic relation with mexico and made a reference to mexico's value added tax and that contributes to unfairness in the economic relationship that looked as if he had been briefed more heavily and ready to discuss in more detail policy than he had been. but that was not borne out in the rest of the debate. >> john, just quickly to round things off. you mentioned trump didn't successfully appear presidential enough and clinton came across as more statesman too. could that work in trump's favor given how much this election is about being part of establishment or not being part of the establishment?

>> reporter: look it's very hard to predict how an entire electorate will view the debate performances. however, i do think the fundamental shift that donald trump has faced in the general election is that he built himself a base in the primaries of noncollege educated white voters who respond to his core message about economic declierngs about cultural change, and are inspired by that notion. but there's a different set of people that he needs to reach in the general election. they are suburban, more upscale. they are white college educated, college graduates. and they want a more display of gravitas, of sophistication of fluency in policy and i think donald trump didn't give him that last night. doesn't mean he can't do it in the next couple of debates but i

don't think he got that done. >> john thank you very much for that analysis. john harwood in new york. that brings to us our twitter and facebook question of the day. has the debate made you decide how you'll vote. the options yes, clinton yes, trump or no still unsure. get in touch with us throughout the show. we'll bring the results of that later and continued coverage on cnbc today of those debates last night. the labt department is launching a review of all complaints of wells fargo in recent years. in a letter to senator elizabeth warren, tom perez plans to conduct a top to bottom review. senator warren has called for a revi review. tomorrow the house financial services committee -- on thursday the house financial services committee will hold a hearing on wells fargo and question the ceo john stumpf. perry capital is calling it

quits after 28 years. the firm which was found by richard perry in the late '80s says it will shut down its flagship fund. in a letter sent to investors richard perry says he believes in the firm's stretch, industry and market headwinds against the firm have been strong. perry capital has recently seen its assets under management decline from 15 billion in 2008 to 16.6 billion in last december. perry isn't the only one suffering from change. investors have pulled more than $50 billion from hedge funds this year alone. coming up, oil prices, losing steam this morning after iran plays down expectations for a production deal. we'll get an analyst's take next. here's what everybody will be talking about from last night's debate. >> we have no leadership. honestly that starts with

secretary clinton. >> two minutes on the same question to defend tax increases on the wealthiest americans. >> i have a feeling by the end of this evening i'll be blamed for everything that's ever happened. >> why not? >> yeah, why not. [singing indistinctly] but i learned how to fly. just to come back in a new disguise, and be the hero i've always wanted to be.

good morning. welcome back to "worldwide exchange". yesterday 0.9% declines for each of the major indices. 10 out of 11 territories banks

worst performers. today we're expected to bounce back but we lost steam in the last hour. we were looking at about 50 points on the dow to open higher we're now look like more 18 or 20 points. europe similarly had been higher. it pared some of its gains. let's look at the mexican peso being cited as the most notable market mover off the back of the debate. big move. stronger for the peso. weaker for the dollar. 1.4% in the day. that really came overnight with asian currency traders moving that currency pair as they applauded the debate performance by hillary clinton, seen as a positive for mexico's economy if donald trump doesn't take it. just pared a bit in the last hour or so. quick look at oil prices. they gained 3% yesterday. significant gains coming in to the oil meeting in algeria but lost some of that overnight and this morning, 1.6%.

wti 45.19. >> opec ministers are meeting at a conference in algeria but traders saying opec and non-opec minute serious to cut is fading. s joining me now is an oil analyst at barclays. thank you for joining us today. let's talk a little bit about this meeting and the fact we're seeing oil to pare those gains we saw yesterday in trading. there's been a lot of talk of a production freeze. saudi arabia near or at record levels. russia at record lechls. iran ramping up near it's pre-sanction levels. if we get talk of a production freeze does it matter. how much of a difference does it make? >> it doesn't matter, actually, because as you've said all these producers are producing close to record levels.

if anything, i would say saudi arabia needs to cut rather than freeze because if they do hold on to their production at 10.7 million barrels a day which is what they are producing at the moment given local demand in saudi is falling, crude burned in the summer is going to fade over the winter they will export a lot more if they were to hold. yes, the short answer is we need a bit more than a freeze if we really need fresh impetus to prices. >> there's been a lot of talk about a lot of focus on saudi arabia, russia and iran, but libya and nigeria have been ramping up production as well. >> that's the worrying bit because libya has finally started loading a few tankers. still a very volatile situation in terms of sustaining that production and still very much away from the 1.6 barrels they did.

nigeria is also getting some barrels in through the last few weeks. so we think that these two are the biggest risks for the oil market to the down side. libya and nigeria over the next six to 12 months even if opec does agree to a freeze which we think is very unlikely. so several risks on the horizon. opec doesn't know how to manage production if these two producers were to come back online. on top of that iran making comments earlier today saying they need 4 million barrels before they go into a freeze. we do look for more supplies coming through from opec if they don't agree to a freeze. >> bringing that all together what's your conclusion for prices for the rest of the year because most of the summer whether it's fed factors or opec factors we have maintained quite a range between 40 and 50. >> yes. well, we think prices will average higher in q4 with or without an opec freeze because

we see the first top draws in the first quarter of this year and that's after 1 months of consecutive stock bills that we've had. and, again, this is even if we see a bit from libya and nigeria, we're seeing sharp slow down in production from the u.s. and other non-opec countries and we see higher demand as well going into q4. we don't think demand is the cause of concern we think supply, if anything, would be a risk for these forecasts. we see $53 a barrel on average for q4 and $60 for 2017. >> prices this morning 45.3. thank you very much for joining us. coming up the presidential debate wasn't the only game in town last night. highlights from the nfl coming next. >> as we head to break here's the national forecast. happy tuesday. we got a couple of rain makers out there. one is a front moving through

the east bringing showers for boston, new york city and d.c. in the south it gets stuck and keep showers in the afternoon. atlanta only a chance the front may come through dry but bring some nice temperature changes behind it. chicago in the 60s. another rain maker that will bring scattered showers that will stick around for a couple of days. also some showers in florida today, temperatures in the mid-80s. heat is still on across the west. not as bad as yesterday where we hit all time september record highs across southern california. a bit cooler today. mid-90s for los angeles. that's your forecast. "worldwide exchange" continues after this.

o welcome back to "worldwide exchange". quick look at futures. still in positive territory but only slightly. we lost some momentum this morning. the debate gave reasons to celebrate. gave reasons for the markets to gain both in asia and europe and u.s. futures market. europe slipped a bit in the last hour as u.s. futures. less than 48 hours after miami marlins pitcher jose fernandez was killed in a boating accident the team honored their teammate's memory. the marlins returned to the field last night in a home game against new york mets. the entire team wore fernandez number 16 jersey. marlins and mets exchanged hugs after the national anthem. fernandez was skefded to be

starting pitch earthbound was not only the marlins ace but popular in south florida. from the baseball diamond to the football field to division rival squaring off on monday night football with atlanta falcons visiting new orleans saints new orleans had a chance to make it a one score game in the fourth quarter but a pass by saints quarterback drew brees intercepted by jones that heads in the other direction. jones goes 90 yards. the falcons beat the saints 45-25. coming up, this morning's top stories and market reaction to last nights presidential debate. but first as we head to break, if you fell asleep early here's one of the more heated exchanges. >> just go to her website. she tells you how to fight isis on the website. i don't think general douglas macarthur would like that too much. >> at least i have a plan to fight isis. >> no, no, you're telling the

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>> good morning. the race for the white house. hillary clinton and donald trump square off in the first presidential debate. we'll bring the fiery highlights straight ahead. plus the social media story, the most tweeted and goggled stories of the night. plus global market european

stocks trading lower and u.s. equity futures move well off their highs of the session. it's tuesday, september 27, 2016. you're watching "worldwide exchange" on cnbc. ♪ a very good morning and warm welcome to "worldwide exchange" on cnbc. i'm wilfred frost alongside morgan brennan who is in for sara today. good morning. >> good morning. >> good to have you with us. let's check in on the global market action. yesterday 0.9% declines for u.s. markets. 10 out of 11 s&p sectors in negative territories. banks the worst performers. we were expecting a bounce this morning still are but less than one. the dow expected to open only 23 points higher. s&p four, nasdaq ten. europe has sold off in the last hour. it was mixed to higher. it's now red as you can see. germany off as much as 1% following big declines yesterday

in new york particularly for germany, particularly for the banks, deutsch bank in the eye of this storm. asian trade held on to gains before we started to see this slip in moves in the last couple of hours and that's why we're looking at about a percent of gains for hong kong and japan overnight. part of the reason for that was positivity and how the debate went. we'll analyze whether that reaction was overdone. part of the reason we've seen markets slip is oil prices they were soft following 3% of gains yesterday but they had extended that softness in the last hour so wti now down 1.4%. the debate, we're monitoring your reactions this morning. for 90 minutes hillary clinton and donald trump went at it on trade, taxes, racial tension, terror, foreign policy, overall and nbc tracie potts brings us those highlights. >> we had a great debate! >> reporter: hillary clinton on

what came out. >> we have an economy to work for everybody. >> reporter: donald trump on what didn't. bill clinton infidelity. >> were you techbted to? >> i was very terchted. >> reporter: focused on competing views. clinton vesting on infrastructure and clean energy. >> all talk, no action. >> reporter: trump tax imports and lower business taxes. >> trumped up and trickle down. trickle did not work. >> reporter: trump challenged to release his tax returns. >> when she releases her 33,000 emails that have been deleted. >> there's something he's hiding. >> reporter: trump unapologetic for he does business. >> for thousands of people you have stiffed over the course of your business do not deserve some kind of apology? >> i take advantage of the laws of the nation. >> reporter: unapologetic for backing stop-and-frisk or questioning president obama's birth place.

>> i want to get on defeating isis. >> reporter: clinic doubled down on what trump said about women. designee called women pigs, slobs and dogs. >> rosie o'donnell i said tough things. she desifrtd. >> reporter: big question did either candidate move the needle for millions of undecided voters? tracie potts nbc news. investors were watching closely to what both candidates had to say and some markets did move off the back it. let's discuss what the conclusions were. our economic policy analyst and cnbc contributor joins us now. james great to sanctify this morning. let's kick off on what we heard those sound bites on the tax return issue is the area donald trump struggled. he took advantage of u.s. laws and makes him clever. was that a mistake and can he rectify it on this issue?

>> well far from rectifying a lot of stuff. he also seemed to suggest that, indeed, there were times where he has not paid any taxes and i think if you look at the focus groups, that really hurt him. in fact one of his worst moments when he's talking about his taxes and tax returns. the more he talks about that and future moderators keep pressing him on that issue that will be rough for donald trump. >> in terms of those wild card issue, on the flip side clinton and emails which is a bigger negative? >> i think in the past, the emails was a bigger issue. but she had a simple direct answer. donald trump's answer was more convoluted. seemed to be many aspects of it. if voters want just a straightforward answer they will find hillary clinton more

impressive. it got addressed at the beginning of the debate. >> james morgan brennan here. how important was it certainly look at markets and what pundit are saying largely believed hillary clinton was the winner of last night's debate. how important was it for trump to actually come out as a winner in this debate versus just come out and i say this because i've spoken to so many folks. you look at the polls there's this large demographic of folks undecided. maybe they want to vote republican or independent but they are worried that he's sort of a loose canon. how important was it for him to win versus just not come across as canon. >> it's important he went to that debate and came across -- is there a different flavor or color to donald trump. does he have a different veneer from what we've seen. that was his opportunity. i've watched all the debates. i watched many donald trump

rallies. that's pretty much the donald trump we've seen over the past year. and do people want that sitting in the oval office >> certainly financial markets thought hillary clinton won. focus groups seem to think she won. instant polls seem to think she won. betting markets think she won. maybe the trump surrogate seemed down cast. if trump goes up in the polls after that performance it's likely he's the next president. i think it would signal that americans are really focused on trade and retreating from the world stage. >> james, does the fact that trump is this sort of anti-establishment character and may get people to vote that have never voted in elections before make traditional parts of this election like the tv debates less relevant or more relevant? >> i think tv debates have become more relevant. it's an opportunity, unfiltered opportunity for the candidates to present their messages. i think the swirl of social

media, of facebook and twitter have added. this is live television. they were watching netflix. this is a live television moment. just like sports this is one of the few moments where people gather. again with the added emphasis of social media. they are tremendously important. >> james, thank you very much for joining us this morning. now for a look at today's top trending stories. we just mentioned interest in the presidential debate wasn't limited to u.s. people. because across asia lots of people watching as well, hillary clinton and donald trump in that battle last night to see who might gain an edge in the race. in japan, broadcaster nhk offering a live translation of the debate, live stream topping the charts in china. got 10,000 comments. >> audience of last night's

debate included many well-known face including mark cuban. cnbc caught up with cuban in the spin room before the debate. >> when i tweeted that i was going to be in the first row i didn't have a first row seat. i knew that it would drive him crazy. mission accomplished. second, i really got tickets because i want to bring my 13-year-old daughter. unfortunately we've been getting death threats and so i spent too much time dealing with security and protecting my family. that's unfortunate. i don't blame that on donald but that's part of the game we're playing. >> twitter stats on the debate. estimated 100 million viewers tuned in on television last night. trump taking first, second and third place for twitter's top three debate moments. twitterverse take most interest in trump's comments about his good temperament. >> i have much better judgment than she does. no question about that. i also have a much better

temperament than she has, you know. i have a much better. she spent -- let me tell you, she spent hundreds of millions of dollars on an advertising, you know they get madison avenue into a room. temperament. my strongest asset, maybe by far is my temperament. i have a winning temperament. i know how to win. she does not. wait. the afl-cio the other day behind the blue screen, i don't know who you were talking to, secretary clinton, but you was totally out of control. i said there's a person with a temperament that's got a problem. >> as for the most tweeted topics the economy topping the list following by foreign affairs, energy and the environment. as well as terrorism and guns. those are some of the most high liked parts of the debate. >> it's i wanting the economy was number one there. i want really speaks to the fact that folks will vote with their

pocketbooks. >> always a domestic sensitivity issues that dominate. >> facebook also compiling information on the debate. we'll take a look at that. trump's temperament comment winning for overall top social moment. it was flipped between fiscal policy and social justice. followed by taxes, isis, racial issues, economy and criminal justice. google giving the round up of the top search results the latest spike coming after clinton first mentions viewers should fact check trump. google collect being quick hit trends as viewers turned to the internet to fact check the candidates. top question for clinton is stop-and-frisk unconstitutional. for trump did trump support the iraq war. great social trends coming in. that brings us to our twitter and facebook question of the day. we asked has the debate decided how you would vote.

yes clinton, yes trump, no, still unsure. let's move to corp operate news. reports swirling over who might step up and buy twitter. landon dowdy joins us. >> reporter: david faber is reporting twitter is moving closer to a formal sale process with disney and microsoft added to the list of possible suitors. the struggling social media site is said to be entertaining bids. this does not mean it's in formal talks just yet. a possible sale is possibly accelerate in the next 30 to 45 days. who is on the list? facebook is unlikely to have interest in buying the social media site. last week microsoft may consider a take over. and recent moves by twitter into straemg live sporting events have atrabtd attention of disney ceo bob iger.

stwirt a treasu twitter is a treasure trove of what customers like and don't like. stock is surging. up more than 26% in the past week. back to you. >> coming up, today's must reads but furs as we head to break here's one you miss feud didn't catch last night's debate. check it out. >> donald was one of the people who rooted for the housing crisis. he said back in 2006 gee i hope i want does collapse because then i can go in and buy some and make some money. it did collapse. >> that's called business. >> 9 million people, 9 million people lost their jobs. 5 million people lost their homes. $13 trillion in family wealth was wiped out. 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.

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now to this morning's must read stories. catching our attention my speck in the "wall street journal," it's titled and the winner of the trump-clinton debate was. the yarl board writing did mount trump erupt. not quite. she didn't get under his skin but on it and he's always had to scratch that itch. that said could it be that his contentiousness match the electorate discussed with the status quo. this isn't an election about details it's broad brush.

mr. trump is better with broad brush if only he didn't splart so much on himself. this particular chunk was written on the journal's editorial board. that's the point. that's the fact that it comes down to establishment versus anti-establishment. you have this big demographic of folks that are independents and republicans who just want to see that trump isn't going to be a loose canon he could be presidential and i think that's really what comes out of this debate, even more so than who necessarily the winner is. >> definitely. he to end down his brassness shall we say from the primary debates but still not significantly to upset what was a very calm performance from hillary clinton. you see him being more brash. >> i do think based on the metrics, fact checking, comments

he made she should be much further along in the polls. it shouldn't be such a close race. i think it comes down to whether he's considered presidential or not versus whether he wins. >> my picks in the "financial times" still debate related, entitled forex markets hand the debate to clinton. writes the mexican peso and foreign markets conclusion that hillary clinton put on a more convincing show than the republican nominee that the u.s. relationship with its immediate neighbors will remain where it is. we have the chart of the connection mexican peso. a very sharp move 1.4% suggesting that markets are knowledge. i want does take me a little bit back to brexit where, of course, we saw markets make a very strong move leading up to the outcome and they got it wrong. the demographics of financial

and forex traders are very different from the demographics of the people that make up this election, particularly overnight because this was asian traders in tokyo and in hong kong that moved this market. so when we make that point markets seem to have a clinton victory. it should be taken with a pinch of salt because people moving those markets are not people who make up this election. >> i'm surprised we don't see the canadian dollar move in tandem with his commentary and where trump stands. >> those are the must reads. still to come investors react to last night's debate. trade was a point of contention last night. listen to them go head-to-head on that issue. >> your husband signed nafta which was one of the worst things that ever happened in the manufacturing industry. >> that's your opinion. >> you go to new england, ohio, pennsylvania, you go anywhere you want, secretary clinton, and you will see devastation where manufacturing is down 30, 40,

sometimes 50%. nafta is the worst trade deal maybe signs anywhere but certainly signed in this country. a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley [baby talk] [child giggling] child: look, ma. no hands.

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>> welcome back to "worldwide exchange". we're approaching the top of the hour. the team is getting ready for box. andrew joins us with a look at what's coming up. >> what do you think is coming up? what do you think we'll talk about this morning. >> maybe what a great show "worldwide exchange" was. >> we try to do that every day but today is a special day. any other topics you think, not the fed. >> debate, debate, debate. >> bingo. bingo, bingo, bingo. we got a number of terrific information talk about and break down what took place last night. the super bowl of debates as they call it. we have the mgm resorts international chairman and ceo. he'll come on. he has some very interesting ideas and views about the debate last night and also this election. you're not going to want to best

it. we have kellyanne conway from the trump campaign to break it down. she will talk to us about what she thought took place last night called the spin room this morning on all sides. we have the former chief economist for mr. biden and the former lieutenant of new york. so we have a lot coming up. debate, debate, dakt aebate and that's what we're doing. >> we look forward to "squawk box" in eight minutes time. futures at this hour lost some steam. still in positive territory. we're expecting the dow to open higher by 34 points. joining us to discuss what to expect from south carolina is senior market strategist at voya investment management. very good morning to you. thank you for joining us. let's talk about this reaction in various markets particularly things like the peso but asian equities seem to applaud the

debate performance. is that a necessary overreaction given that it went so fast? >> it's a knee jerk reaction and probably short term, short-lived and it may not last. but i think it's a knee jerk reaction and underlying fundamentals are really what drives markets at the end of the day. so i think that investors should pay attention to the fundamentals of the market rather than the short term moments. >> the last week, of course, including yesterday has been pretty volatile. we ended last week higher but big moves each day. we had a big move down yesterday, particularly the bank stocks. is that some kind of fear that what's happening in european banks and deutsch bank in particular yesterday could be carried over here stateside as well? >> i think so. i think the financials have been in the spotlight but investors are laser focused on those day-to-day moves and maybe what could happen with interest rates

if they could rise that could be good for banks he in don't rise that could be bad for banks. instead of looking at the entire picture. another short term movement where overall generally things market is moving forward because the earnings picture is getting better. it's getting better for financials and everyone. only energy that's still struggling with earnings and when we start to get earnings in the third quarter, we get earnings in the third quarter we'll see a positive surprise. investors are overly worried about a lot of these short term moments are going to be caught by surprise and that they are not in the market. >> and, karen, this is morgan brennan you just mentioned energy. taking a look at oil that is tracking losses today. how important is that to the equity market? we've certainly seen a decoupling over recent weeks. looking at the s&p futures they are paring their gains

presumably on lower oil prices. how should we one that moving into the end of the year? >> well when oil is down around in the 20s then it was an affirmation that the global economy was going off a cliff and that wasn't the case. oil is still an important part of the market but now that we see oil in the range of the 40s, i would not take a look at it and say okay this will move the market that much. we're going to see oil in that range of between 40 and 50 as we see supply goes up, then the price goes down. then more manufacturers get into the process and we see the reverse. i think investors should not take a look at that. what really drives markets is not oil prices but what's going on with earnings and if companies can move that earnings ball ahead we'll see markets move forward. that being said everyone is focused on large caps we missed the fact that large caps, small caps, emerging markets are moving well. investors should look at that

and broaden their portfolios. >> karen, quickly in terms of earnings of u.s. companies as we look at the rest of the year which sectors are you most positive of? >> i like health care. i like consumer discretionary. i like tech because there's some growth there. i actually like financials because financials have been so beaten down we're poised for a positive surprise. >> thank you for joining us. let's get to the results of our twitter and facebook question. we asked has the debate meant you decided how you'll vote. 45 administers say yes voting clinton. 37% say yes, voting trump. 18% still unsure. i suppose, morgan that portion of undecided that will decide it but judging by that poll trump has more work to do following the debate and all the recent developments of the election. that's it for "worldwide exchange" this morning. thank you very much for joining us. "squawk box," of course, coming

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good morning. your money your vote. hillary clinton and donald trump square off in the first presidential debate. we'll bring the highlights straight ahead. >> gobble stocks initially rallied after the debate but have since given back those gains. european stocks turning negative and crude prices are under pressure this morning. becky, did they roll again? >> i haven't seen. >> 45. anyway. plus calling it quits at perry capital. the hedge fund cutting its losses and shuttering its flagship fund after 28 years. it's tuesday, september 27th, the day after 2016 and "squawk

box" begins right now. ♪ feels like the first time ♪ feels like the very first time ♪ >> announcer: live from new york where business never sleeps this is "squawk box". good morning, everybody, welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin and as joe mentioned the u.s. equity futures at this point look like they are in positive territory. dow futures up by 34 points. s&p futures up by five. nasdaq up by 12. you have to remember this came after a second day in a row of losses for the markets. the do you was down yesterday with s&p down by 19 points. if you want to take what happened overnight in asia you'll see that the markets there ended in positive territory. nikkei was up by .8%. me