out of saudi arabia to the u.s you can see wti is down about a quarter percent. brent down a little bit less than that. nat gas for december deliveries do down 2.25% >> new ove default they owed roughly it20$200 milln markets now, stocks pointing to a mixed open on wall street in coupon payments, but failed as investors remain laser to make those payments focused on earnings and any new s&p downgraded the sovereign movement on tax reform. bond rating to "d" from double the world's most powerful central bankers are speaking "c," and cut the sovereign together in germany. we'll bring you the breaking credit rating to selective headlines. default. happening now, the word's and going wild shares of buffalo wild wings are most powerful central bankers soaring on deal news are about to speak in frankfurt we have the full details ahead germany. it's tuesday, november 14, 2017. steve liesman is monitoring all of that action and joins us now "worldwide exchange" begins right now. with more. steve who is on tap and what you are listening for? >> you have kuroda from japan, ♪ draghi from europe, yellen from good morning welcome to "worldwide exchange" the u.s. and carney from the uk.

on cnbc. i'm kayla tausche. earlier today, charlie evans >>tosantoli. speaking said the fed should prepare for the next crisis now. said it's worth considering things like price level worldwide tour landed you here targeting. in other words, say we're going to hit this level and we'll >> glad both of our alarms went stick with it. we'll keep policy low until we hit that target. off this morning let's check the stocks this saying the fed should prepare morning, see where we are in the public for unconventional trade. roughly flat look at where the dow is policies in unconventional an implied open of up 7. times. these are four central bankers on the podium with different policies take a quick look at their the s&p down 2 the nasdaq down 3. balance sheets relative to their roughly unchanged. gdp. a bit of the air coming out of japan has done much more in the the rally, at least in the u.s. way of quantitative easing early in the futures trading. their balance sheet is 95% of >> the markets have been on the their gdp. the eurozone, 39%. defensive, hovering around the both the two on the left are highs. not a lot of damage done, just rising as is the one on the right, the uk, the u.s. is stalled out. this market doesn't pull back, just sits a while. shrinking. i don't know if we have time to >> waiting on news of tax look at all the global monetary reform let's look at where the ten-year policies and where they are, the yield is u.s. is in a different place that's where we could see movement happening today as the on the left, the boe up a senate finance committee moves to a mark up quarter point. the yield at 2.4%. their balance sheet is expanding

again, not much movement there still. not much volatility. moving to the right, the european central bank, they have and perhaps that central banker a zero policyrate. speak could help move that their balance sheet is market >> let's look overseas expanding. they did announce what i guess markets over there generally on you could call tapering. the defensive, though not too boj, 0.1% policy rate. dramatic we did get data out of china the u.s., standing alone retail sales and industrial a rising policy rate, and a output coming in below contracting balance sheet. so we're listening to what they expectation. nikkei in japan which has been have to say about policy jumpy is basically flat. it is a conference on communication. >> keep us on it, steve. hang seng down 0.1%. we'll come back to you as that south korea below the flat line. conference develops. in europe, markets were higher in deal news, shares of but they cooled a bit. they are still to the upside buffalo wild wings are soaring over there a bit of a bounce move the euro stocks index, it's down after rosarke capital made a $10 more than 3% from highs it has been in pullback mode. the german dax, just a bit above per share offer. steve anderson joins us, he the flat line. ftse, they had some inflation covers buffalo while wings at data coming in below maxim group. expectations in the uk thanks for calling in. >> thanks for having me on the market there also looking at >> seems like two sides to look

very slim gains across the at this. you have a private value seeing continent. >> as for the broader markets, value here in a chain that's had let's look at where currencies some struggles are globally idollar the stock was well higher than 150 not long ago how do you think the market will absorb this potential bid? 117 is where the euro against >> i have to say buffalo wild the dollar is. wings has not been immune to some casual dining concerns of u.s./yen, 113.75 late, notably the reduction in the pound showing some weakness, traffic. more recently concerns about the 1.30 decline in nfl ratings affecting shakiness on the brexia peak restaurant traffic but buffalo wild wings, they have been a growth name, and we think that the potential acquisition by roarke is a plausible one since they have a history of going after restaurants that are heavily franchised are about to be heavily franchised in buffalo wild wings they see a potential to sell restaurants to franchisees, if that would go through that would help the process along. what do you think about this notion of $150 take out price?

it would seem as if the company might expect that their own plans of franchising or whatever else might get them potentially to that price or higher without a bid. do you think it's low? how do you handicap that >> there's a potential for upside to that $150 level considering that the company has been undertaking some measures to reduce costs on its own they had a beat last quarter because of that. i think investors have not seen yet is that there's been a reduction in food costs. one reason why buffalo wild wings has been hurt was because wing costs have been high. they have come down since the summer that will be another factor that will improve margins >> how much time does this company have to prove its own strategy is effective or have to answer to roarke cap pal

what's a comparative deal that you feel is a good precedent or example for how investors see how this plays out >> if you look a panera or pop eyes, those have been significantly higher because those companies have had a longer streak of outperformance. i think with buffalo wild wings you have to use a lower multiple, but nonetheless this is a company that historically has been a growth company. they have outperformed peers in casual dining. i think the $150 price that roark is asking, it might be a starting point it could be another person -- another group that could come in with another deal that could be something strategic almost the same way that roark capital

might be >> we'll wait forever the next chapter here the company still has to respond and the activist investors might have a say >> that's correct. >> thank you for weighing in. it's a big sign of the times for retail as walmart teams up with lord & taylor landon dowdy has that story. good morning >> that's right. a tale of two retailers. lord & taylor announcing they struck a deal with walmart to launch a store on the website coming in spring of 2018 through the partnership, walmart.com will provide lord & taylor dedicated space on its site as the chain continues to operate its own e-commerce platform this comes as walmart's haven't str recent strategy has been focused on fashion as customers look for higher-end products. for lord & taylor this could help offset weaker foot traffic and weaker sales walmart.com reaches a wide base of customers and as the retail

landscape is changing the stoere has enormous opportunities for the brand. the stock is up in early morning trading. japan's softbank says it is considering investing in uber, but a final agreement has not been reached softbank releasing a statement saying if conditions on share price and a minimum of shares are not satisfactory there's a possibility the softbank group may not make an investment this a day after uber said a planned deal was moving forward. sources say that deal could be worth $10 billion. >> do you think they're calling their bluff, or they want a good deal a big chunk of equity >> and it seems so many things falling into place i don't know if it it was a legalistic move from softbank, or maybe uber did push forward the news >> perhaps a step from when corporate investors would take

any terps s t terms to get into private companies. vodafone reporting strong growth in the first half of the year driven by demand for data they are raising the full-year earnings growth target to 10%. that's up from the previous 4% to 8%. shares of switch are lower after the data center company reported its first result since going public last month the stock had run up nearly 6% ahead of yesterday's report, but look at where it is now. it's down about 8% credit suisse agreed to pay 1$135 million to settle a probe into its foreign exchange business in new york new york's state banking regulator alleged traders improperly shared information to manipulate currency prices and used its electronic platform to trade ahead of client orders even so, good for a bank like this to have it behind it. 1$135 million is a drop in the bucket compared to what some other banks had to pay

>> it's pretty small i'm sure they hope it doesn't get multiplied by 50 for every state which it won't, but this is a thing that they got behind them we'll get some inflation data with the october producer price index out at 8:30 a.m. eastern time on the earnings front, we'll have home depot, dick's sporting goods and tjx all reporting results before the opening bell. the must-see interview of the day, general electric's kreshgs o jo ceo john flannery live on "squawk on the street." we are monitoring the power panel of central bankers talking in germany yellen, kuroda, carney live on stage. we'll bring you the latest when we return. jimmy's gotten used to his whole room smelling like sweaty odors.

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i paused it. bam, family time. so how is everyone? find your awesome with xfinity xfi and change the way you wifi. welcome back to "worldwide exchange." happening now, the world's most powerful central bankers, we're monitoring comments from janet yellen, mark carney, mario draghi and japan's kuroda. we'll monitor this for headlines to bring you. let's bring in danielle dimartino-booth joining us to talk about this panel and central banking in general what do you expect to hear out of this group? what tone? what sort of thrust of the message? >> i'm hoping to hear a lot. the theme of this event is

communications in central banking policy so, i think that over the past few years a lot has been lost in all of these efforts to make forward guidance some kind of a true policy tool i'm kind of intrigued at the theme of what they're doing there in frankfurt we'll see what happens it's been since jackson hole they had this photo-op together this is janet yellen's last hurrah >> do you think that means it will be -- we had this all figured out. it's been quiet since jackson hole the markets are calm >> they are. there's a lot of legacy building going on right now in central banks. it may seem like the -- it will never occur, but by the end of '19, you will see carney leave, draghi leave, the germans are intent on naming a successor for mario draghi very -- in the near-term. so we'll know something by next

year, and we'll have a new cast of characters not just in the united states but across the world. kuroda is the only one to get nominated for a second term. >> where forward guidance is concerned, given the fact that so few of them are going to be here beyond 2018, yellen not beyond early next year, how much weight do you put in any prognostication? >> i'm hoping jay powell goes with less is more. when i was in the fed, communication was becoming -- almost too much being said by the district bank presidents, by the people on the board. a lot of it introduced distortions into the market. i'm hoping jay powell and maybe whoever succeeds draghi and carney at the bank of england, i'm hoping they bring in an era of just having one person speak

for the central banks. there can be too much that is said >> do you think there are distortions in the market from how much they said >> i certainly think there's confusion in terms of what is truly next if they mean what they say, one year from today we will have 0 $800 billion less if you add up what the fed is contemplating -- how much they're contemplating they're shrinking the balance sheet and how much draghi announced in terms of the taper. we'll have significantly less liquidity pouring into the markets. >> if they stick totheir word, the federal funds rate in the u.s. would maybe be 1 percentage point higher >> they're saying three rate hikes after december 13th. >> plus three. >> you about the market says one. >> yes do you think -- there's been talk that coming into this year especially that you had this conflict among the fed going one direction. >> yeah. >> there a need for more tacit or actual coordination do they have to get everybody on

the same page? >> the answer is we'll see if the yield curve refuses to stop flattening, then -- if you look at a bell curve, the fed is certainly well along in the process compared to all of its counterparts worldwide but you could see a situation where the ecb and the bank of japan are not even exiting yet before we begin to contemplate easing interest rates. >> does that clear the way for the fed or does that work across purposes >> look, the thing is because we're all at such different stages in the cycle, you could see a lot of confusion in the currency markets going forward among interest rates that could add deep confusion this is the biggest experiment in monetary policy history as long as we existed. how this will unwind is anyone's guess. >> we'll keep listening and keep

guessing thank you very much. still ahead on "worldwide exchange," headed home president trump making his way back to the u.s. following a whirlwind trip through asia. we'll tell you what's on the president's plate as he returns to washington. first as we head to break, here is the national weather forecast from bill karins. >> good tuesday morning to you all the attention is in the pacific northwest. a mother lost her life a tree fell on the car yesterday, those were in the 60 to 70-mile-per-hour winds with storm one this is storm two moving in today. thankfully the winds won't be as strong we'll have the high elevation snow and the rain at the low elevations today it's focused in washington state. tonight it moves down to oregon. tomorrow some of that moisture makes its way to northern california which is fantastic. that's where we want the rainfall and also building up the snow pack. quiet weather day from texas to florida. great weather in the southern half of the country. fog and clouds in the midwest. the northeast starts chilly with a nice afternoon at ys in the 40s

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the ibm cloud. the cloud that's designed for your data. ai ready. secure to the core. the ibm cloud is the cloud for business. yours. welcome back to "worldwide exchange." let's get you up to speed on the market action. looks like the indexes are on the defensive. down just slightly looking for the potential of a three-day decline in the s&p 500 that would be the first time since august very minimal moves there s&p indicated down four, dow

less than one point. oil also packing off this morning. wti crude under $57 a barrel president trump headed home after a whirlwind trip through asia there's a lot on his domestic agenda let's get down to tracie potts in d.c. with more. obviously it's a big week for tax reform which the president short of weighed back in on on twitter from overseas. what can you tell us about where things stand with the senate and the house? >> they are still at odds on some key parts of this tax reform plan like property taxes, whether or not they should be deductible the senate started its mark up this week, in other words, dozens of amendments out there, change, is that they possibly would consider to this plan. there was a bipartisan review of the plan that said 13 million americans would end up paying more in taxes. who are those 13 million americans? that's the issue here. while republicans continue to say this is not a big tax break

for the wealthy, democrats insist that it is. so the devil is in the details that process still going forward. president trump ready to jump back into that after he lands in washington late tonight. there are other things happening here on capitol hill that he will also have to weigh in on. roy moore, the republican senate nominee from alabama facing sexual misconduct allegations that he denies now there's a groundswell of republicans here on capitol hill, including the senate republican leader, mitch mcconnell, saying they believe the women and moore should step aside. the white house said the president will review the latest developments once he gets back that's happening plus lawmakers here looking at harassment, sexual harassment training today there's a hearing on that. donald trump jr., new reports that he was having an ongoing conversation with wikileaks during the campaign. he has responded overnight saying that those were

confidential documents given to capitol hill he and his attorney are wondering how and why they got out. so a number of things are brewing that the president will have to deal with, including his attorney general, jeff sessions, who now says he may be considering a special counsdowco investigate the clinton foundation >> quite a lot of irons in the fire in washington per usual as much as capitol hill wants to focus on one policy issue at hand, there's always something else that they must deal with. good morning have a great day he would appreciate it still ahead on "worldwide exchange," a look at the top stories and a round up of global markets. >> plus trending today, stove top introducing the latest in holiday fashion. we have all the details coming up you're watching "worldwide exchange" on cnbc.

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happening now, a power panel of central bankers speaking in germany. yellen, draghi, kuroda and carney on stage together a delicious deal shares of buffalo wild wings soaring on news of a potential takeover. and it's back. boston dynamics showing off its latest robot dog this time with a little less bite it's tuesday, november 14, 2017, you're watching "worldwide exchange" on cnbc.

♪ good tuesday morning welcome to "worldwide exchange," i'm kayla tausche. >> i'm mike santoli. good to see you this morning a lot gets started before 6:00 >> i don't know we played "who lets the dogs out" before 6:00 a.m., i guess we do. >> let's get to the global markets. u.s. equity futures, they've been on the defensive. it's been a cautious tone for a couple days there. yesterday the new high in the utility average, which means the market is in a defensive mode. the s&p 500 indicated down, less than 5 points from near an all-time high. dow down less than a point nasdaq down 5. fairly slight moves at least now. look at the ten-year treasury note yesterday did click up on the yield to about 2.4%. just below that now. a lot of focus on the narrowing

yield curve, the spread between the ten-year and the two-year, yesterday you got some relief, ten-year note hovering below 2.4. >> seeing softness over in asia. let's look at where asia closed overnight. nikkei roughly flat. hang seng is down by 0.1%. shanghai is off about a half of a percent. the driver over in asia was some worse than expected economic data, if only slightly on retail sales and industrial output korea down an edge, about a quarter percent over there as well look at where europe is. we saw inflation data in the uk come in slightly below expectations, but german economic data did come in in line, even so you're seeing germany flat france flat. the ftse 100 is up slightly as is spain, though you could say roughly unchanged across the board. >> as for the broader markets

outside equities and bonds, the oil market slight moves, but to the down side. wti crude down about a quarter percent to 56.61 a barrel. brent down natural gas giving back recent gains, which coincides with a cold snap in the u.s. weather. currencies, the dollar has been also flat lining after a bounce. slightly lower against the euro. there was an outperformance on the italy gdp data got a bit of a pop in the euro there. dollar also slightly stronger against the yen. as well as the pound the pound took a move down after there was a lower than expected inflation reading out of the uk. gold has been generally quiet, under $1300. it's down 0.4% at 1273 breaking overnight, standard & poor's declaring venezuela in default after the country failed

to make two interest payments on its debt they owed roughly $200 million in coupon payments, but failed to make those payments s&p downgraded the sovereign bond rating to "d" from double "c," and cut the sovereign credit rating to selective default. happening now, the world's most powerful central bankers are gathering together in frankfurt, germany janet yellen just started speaking we'll monitor her remarks and bring you any headlines. let's bring in john silvia from wells fargo securities. what do you expect to hear from janet yellen do you expect her to be unchanged now that she's been relieved from a second term? >> she's going to emphasize continuity, that the fed will continue to move forward under

chair powell and that policy won't change that much i think that's correct i think in december, the fed will go ahead and do an interest rate increase. probably the first half of next year monitoring inflation so i think in terms of the structural policy, theduct of pe same >> what about the balance sheet yuf loadi offloading >> in the second half of next year, that's when the fed actually has a net reduction in its balance sheet. that's where the pressure, it will be. yes, you can continue with the fed balance sheet reduction. >> markets have absorbed this slow transition in policy very well where do you think the surprise lies as we get into next year? would it be a flair up on the inflation side, another stumble in growth? how do we handicap that? >> it is the inflation number.

the challenge is that, yeah, policy is great now. because you still have the pce deflator staying at 1.5% when that starts creeping up towards 2%, which it may because of many different reasons, that's when you will have the challenge on policy. >> do you think the markets are underestimating that >> at this time there's underestimation. short end, the fed will continue to raise the federal funds rate. that will raise the two-year at the long end, you'll have more of a ten-year increase. >> the banks and financial institutions are trying to grapple with what next year looks like you could see something unpredictable? a series of three 75 basis point hikes or something more dramatic >> looking at the dot plot, the intention is to move ahead with the federal funds rate increases. for us the chamg is do you get the growth going back to the second part of the question what do you do with economic

growth will we get that 2.5% plus that the administration talks about based upon the tax changes or drift back to the 2%, while we have rising inflation, modestly, but also have rising interest rates. that's going to be a challenge for the marketplace. >> given the framework now of what the house and senate are dealing with on taxes, do you see that short-term fiscal boost that might be in there do you have to change the numbers at all >> i think the short-term is the emphases the story is if you want permanent sustainable 3% growth, you need to have some permanent tax changes. we're talking about a lot of temporary changes, which may not give us that sustainable growth. >> where do you see a bigger market impact from tax reform on growth or on potentially the dollar affected by the deficit >> has to be growth and it has to be capital spending that leads to more productivity and higher real wages for workers.

that's where the real sustainable change has to be >> we appreciate you coming in >> thank you >> john silvia from wells fargo. >> sour sources tell cnbc that capit roark capital has offered to e buffalo wild wings for $150 a share. you can see that pop in shares after the news got out there. tesla has been hit by a class action lawsuit claiming racial discrimination in fremont, california. this is the third suit filed this year on behalf of american auto workers who allege the plant is a hotbed for racist behavior tesla shares were up yesterday on the news of this semi truck launch walmart teaming up with lord &

taylor to sell goods on walmart.com. for walmart the partnership is another move towards buying a premium online fashion destination. coca-cola has been upgraded to yo outperform at wells fargo. positive momentum should accelerate the bottom line the market may still be underestimating the potential upside coke is holding an investor day in atlanta later this week. landon dowdy joins us now with sector nomics and a snapshot of the space. good morning >> that's right. the consumer discretionary sector had an average run this year with performance falling smack in the middle of all 11 sectors. the sektde ersectors are up 14%o date still lagging the s&p 500 which is up 15%. there are still some real winners year-to-date wynn resor s resorts up 79%

home builders d.r. horton and pulte group up 72% easing of credit key driver force that industry. the losers, advanced auto parts, more people moving towards public transportation. foot locker off 58 pf% as the footwear maker struggles to keep up with nike and adidas. and under armour also down about 58%. they are burning through cash and hurting their brand through promotions back over to you >> thank you very much appreciate it. time for our top trending stories. lord of the rings is heading to amazon the company confirmi ining it's working on a tv series based on the films.

amazon's show will explore new story lines rather than retell story lines already depicted on screen wonder if they'll be as long as the books. >> yeah. it's amazing you have this 100-year-old intellect cal prual property geg repurposed >> after 16 years, joejoeyt tria is getting his thanksgiving pants. stove top introducing stretchy pants. they were inspired by the 2001 "friends" episode where joey wears a pair of maternity pants while trying to eat an entire turkey on his own. the pants come in small through extra large and are available through the end of the month >> all you have to do is wear any yoga pants any lycra will do. >> if it saves the under the table loosen the belt, it might

be an improvement. boston dynamics unveiling spot mini robot it had a complete makeover with bright yellow plates covering its legs and body look at that monstrous beast the youtube video says spot mini will be coming soon. it's unclear if that means the company plans to sell a version of spot mini or if boston dynamics is teasing a longer version of the video if they think the mini, calling it the mini means it would be perceived as less menacing than the previous version, i'm not sure about that. >> is the purpose that this robot dog will take up the useful tasks that dogs do for us now? which are what as a non-dog owner >> not exactly a work animal. coming up, making china great again. that's what one former national security adviser says president trump just did on his asia trip. the must-reads are ahead. as we head to break, let's

check on treasuries. ten-year was backing off a bit you can see that's about the case now pretty much flatn othe yield curve. stay tuned, you're watching "worldwide exchange" on cnbc my friend susie cracks me up. but one laugh,

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frankfurt, germ nich anygermany. we're getting some headlines from janet yellen. steve what did she say >> an interesting conversation about how the fed talks to the public, how it talks to markets. yellen defending the communication strategy saying the fomc rate forecast provides a benefit. these are the dots she acknowledges there's a cost when the fed doesn't follow through with what it says, but she says ultimately it helps the markets understand the outlook she points out the fed always emphasizes the forecasts they have are conditional on economic conditions bank of japan governor kuroda saying inflation expectations are slightly picking up and the boj will continue with accommodative policy there's a back and forth over how the fed communicates with markets, is it too much? is it working? >> steve, reading between the

lines, these central bank leaders, they clearly want to say we think our communication policies now are okay. are they pressing against this idea that there should be more of a rules-based decision making process or folks who say we liked it better when there was mystery and discretion at the fed? >> if they took the wide view of that panel there, with those four central bankers, i believe nobody on that panel would agree with the rules-based -- strict rules-based system i think all of them like to have their formulas that they have that could show you, are you up or down relative to the past, relative toa variety of indicators all of them, it would want the discretion that they have in order to make rates and to make policy in a crisis time. so that is not the conventional wisdom among those four central bankers who happen to be the -- i guess the most powerful strange banker

central bankers in the world today. >> we appreciate you watching that time for our must-reads. my pick is in the "new york times," from susan rice, former national security adviser to the obama administration trump is making china great again. and it's an op-ed that basically argues that the president, president trump, fell prey to plat fla flattery while overseas. a she says he missed a key opportunity on trade he basically is allowing china to fill the leadership position that the u.s. would have previously occupied by trump withdrawing from the tpp, letting these 11 nations come out with the new deal, and china gets to be a bigger counter weight against that block by default. interestingly she says it

positions china to become its rise as a global power s xi made his speech on globalization at apec, trump was touting economic nationalism as that came out the president spoke to reporters on air force one and said he's proud of the trip he doesn't think he and xi are too close. he thinks the u.s.'s position on what he calls reciprocal trade needed to be voiced louder so clearly he believes that he did the right thing overseas, even as career diplomats and security officials are scratching their heads >> do know a lot of u.s. companies are eager to see if reciprocity means better access to the chinese markets my pick is in the "new york times. robbing blue states to pay red this is about the idea of getting rid of the deduction for state and local taxes. because the republicans most prized constituencies is corporations and the rich are more prevalent in blue states, the overall geographic

distribution of the beneficiaries of the current republican tax bill is mixed but the growing signs that policies are being written to impose coasts to states behind enemyis. on the other hand, the "wall street journal" today points out money has been moving from high tax states to low tax states for a long time. so it's not as if these dynamics are terribly new >> perhaps that's why ivanka trump has been taking her tax reform pitch to california with the treasury secretary and yesterday to new jersey. >> exactly that's where it will hit home. we're approaching the top of the hour the team is getting ready for "squawk box. andrew ross sorkin is in new york with a look at what's coming up. >> hold on first of all, welcome back >> thank you >> i haven't seen you in person in quite awhile. second of all, you do your must-reads, there's a section i edited called deal book today in the "new york times. i wanted to make sure --

>> you don't get enough free advertising for dealbook >> i edited the whole thing. i should use it. i have another tease that is not for today's program. we should mention this is our last day on this particular set. starting tomorrow we're going downstairs we'll be on the ground floor in times square that should be a tease enough. >> are you going to have a "today" show plaza situation >> we'll have a plaza situation, also the police behind us as well >> for all the people that want to get up at 5:00 in the morning and stand outside with their posters. >> it will be a whole new thing. so, we're excited about that in terms of news today, we will talk home depot. we'll continue to talk about the saga that is general electric. and then if this is not enough for you, were you guys "full house" fans? >> of course >> bob sag ga it will be on the

show in the 8:00 hour. >> not only was i a full house fan but also an america's funniest home videos fan looking forward to it. >> see you >> have a great show. still ahead, d.c.,ings all . and a can't-miss interview later this morning ge's ceo john flannery sitting down with cnbc after the company announced a big turnaround plan. orwi ehaat at 9:30 a.m. eastern. "wlddexcnge" will be right back ust drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances.

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and start saving. . welcome back to "worldwide exchange." look at where we are the dow has added a couple more points since we last checked early this morning taking some steam out of yesterday's close. with us now is chris rupke from mufg union bank. what are you watching for today in the markets >> i'm an exist.

we only look at economic reports. yeah, there's ppi inflation. that's something to look forward to we look at ppi to get us set up for cpi inflation, which is tomorrow i guess i'll look atful that t. the correlation is not strong between the two. >> in gem, betweneral, where ar there's momentum behind getting inflation higher or whether the fed should wait for something like that? >> too low inflation is a very, very serious problem for the -- i'm joking you know -- >> because some -- >> it's only someone who is in the midwest of the country who is at some of those regional federal reserve banks that could be concerned about too low inflation. most -- we've never been concerned about it before. the economy is at full employment everyone has a job that's the marker of success for the economy. >> so cut taxes.

>> well, we usually cut taxes. no other administration tried this and congress as well. we usually get tax cuts in a recession when the sky is falling. >> how much of a -- how much will this goose growth in reality? >> i have to stick with my profession of professional forecaster s there's a lot of people putting out estimates now. it will probably boost growth by a quarter percentage point if you add 2.25% gdp next year, would put it at 2.5. it's nothing huge. we have these demographic headwinds. >> in a full employment economy, does a 2.4% ten-year yield make sense to you is that telling you -- >> brutal. i'm a fixed income economist i need rates the fed won't lift rates it's all about the fed it's not even inflation. if the fed puts rates to 3%, ten-year yields will go to 3% if they waffle, it won't go up quickly. >> only to 3%? it's still going to --

>> exactly do you hear anyone talking about rates needing to go above 3% no one is talking like that. there's no inflation but we'll see if crude oil prices pick up a little. world growth is strong especially germany >> maybe chair powell. >> y chaes, chair powell >> that's it for "worldwide exchange." "squawk box" with the team in new york is micong up next so you're looking for male customers, ages 25-54,

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. good morning it's a big week for retailers and quarterly results. any minute home depot will report meeting of the minds the heads of the big four central banks gathering in germany right now. steve liesman, another one of

the big guys in that group will be there he will have the details we'll bring you highlights and going wild shares of buffalo wild wings soaring on deal news we'll have the full details ahead. it's tuesday, november 14, 2017, "squawk box" begins right now. ♪ live from new york where business never sleeps, this is "squawk box. >> good morning, everybody welcome to "squawk box" on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. if you check out the u.s. equity futures, at this point things are relatively flat. dow futures indicated up by less than a point the nasdaq down by 4 this comes after a day when the dow and s&p 500 managed to eke out gains despite the pressure we saw from ge with the worst

day, down about 7% those two indices managed to finish with slight gains the nasdaq was down by 6.66 that devilish number. we will see where things get as we get closer to the