. it is 5:00 a.m. in boston. here's your top five at 5:00 president trump sounding off on everything from nafta to china to the fed we have a full wrap up of his comments coming your way. the fed just raised rates and signaled more to come. opec reportedly ready to add more oil to the market to calm fears as crude and gasoline near four-year highs. bed bath & beyond, ouch. shares plunging there following an earnings miss. and all you gamers out there, rejoice there will be a lot of tired kids in school today you know why

fortnight season six just got under way. put down your controller, "worldwide exchange" begins right now. ♪ good thursday morning. welcome from wherever in the world you may be watching. i'm brian sullivan we're following a developing story in the energy and oil markets. a new report out from reuters suggesting that saudi arabia will increase energy poil produ stem price concerns. >> the maximum sustained capacity is 12 million barrels, and it's sustainable capacity. as you know, we have the reserve, 260 million barrels, other reserves by third party that are available to sustain

that maximum sustained capacity. that capacity is available some of it in days, some of it in weeks with a maximum three months to have it all available. >> you can see it, they were saying there they had the capacity to go up, that report suggesting they may do that. adding a couple hundred thousand barrels per day to offset declines from the iranian sanctions and venezuela's decline. not having a marked impact on the oil markets. crude oil is not changing much let's check the markets outside of energy. stock futures indicating the dow will drop slightly at the open we had a drop yesterday following the fed decision we saw bank stocks sell off, the market fell a bit. the nasdaq positive. dow futures down positively. hard to get a read on anything

like this we'll schltthis we'll see what happens the bond market moving the ten-year note yielding 3.046% much more on the markets coming up first if you missed it yesterday, president trump in a very long, very wide-ranging news conference sounding off on everything from brett kavanaugh to china to nafta to the federal reserve even during that conference in new york the president taking new aim at canada saying he's considering more tariffs against our neighbors to the north as nafta talks stall. >> we're thinking about just taxing cars coming in from canada that's the mother lode we're unhappy with the styles of canada we don't like their representative very much i love canada, by the way, i have so many friends there everybody. so many friends. but that has nothing to do with this. i'm representing the united

states >> president trump also talking about china. he said he does plan to call the chinese president, xi jinping, later today to discuss their escalating trade tension with the united states. the president also calling out china for trying to interfere in the upcoming midterm elections >> one thing they're try doing is convince people to go against donald trump a person who has no concept of what they're doing would allow china to take 5$500 billion a year out of our economy. our economy is better than ever. the confidence levels that just came out, fantastic. >> the president once again weighing in on the federal reserve. here's what he said about yesterday's interest rate hike >> unfortunately they just raised interest rates a little

bit because we are doing so well i'm not happy about that i am not happy about that. i would rather pay down debt or do other things. create more jobs so i'm worried about the fact that they seem to like raising interest rates we can do other things with the money. and -- but they raised them. and they're raising them because we're doing so well. >> staying with the federal reserve, as the president mentioned policymakers yesterday raising interest rates for the third time this year, the eighth time in the last three years, they signaled more rate hikes are likely to come jay powell said the economy is strong but he's keeping a close eye on escalating trade tensions >> we've been hearing a rising chorus of concerns from businesses all over the country about disruption of supply chains, material costs and increases and loss of markets. if all of the tariffs announced are applied what would be the

effect at the aggregate level, they're still relatively small >> let's get reaction to the move, the energy markets, history, your money, joining us now is jeff hirsh from probabilities fund management. there's a lot to respond to there. >> yes >> what, if anything, stuck out to you >> the fed >> why >> because that's the thing that's most pressing that's putting the most pressure on things. the trade issues, while good theater and good tv and definitely something that could turn into something, right now it's what the chinese are slapping 25% on 50 billion, 10% on 200 billion, that's about 32.5 billion, that's 1.6% of the gdp of the u.s >> are you saying trade doesn't matter at all. >> i'm saying so far the amount of money that we're talking about is so small compared to the global gdp and all the

countries gdp -- >> we also don't know who will eat it if the producer eats t that's one thing. we don't know if the consumer will eat all of it >> you remember wilbur ross with the campbell soup can -- >> he did it on our network. >> he did. but it's not a huge amount of money yet. the market dropped yesterday because the fed is talking back forecasts for growth the 30-year coming down on that and they're pushing rates up because they have the opportunity to put more bullets in the chamber >> they dropped the accommodative word i was listening to the coverage, steve liesman always nailed it at the top on "power lunch." here's the thing, i read two schools of thought on the fed. one is by dropping accommodative will they cool off or are they going to play more fast and loose and kind of let it ride?

i don't know which one what was your interpretation of the fed yesterday? if you're in the second camp, inflation is a worry >> i don't think they'll let it go i think powell is a bit closer to the vest than the previous couple of feds >> very measured very guarded >> and he's a market guy i don't think he'll let inflation run away i think he'll stick to his mandate as he states and i think he will continue to normalize rates. i think art cashin on your network made a very nice comment about it being goldilocks. he is saying interest rates are just right they're getting into the just right area it's not a bad thing we're up in that 2% area that's the lower end of normal levels that's where we are. but then we start going higher, then you get into trouble with interest rates >> the market fell a bit after the fed because financial stocks fell the dow fell 100

100 points now is not much it's not nothing, the market did turn a bit this morning slightly lower on the futures. why do you think the market has not seemed to respond to anything, whether it's the fed, trade, trump, china? >> the only place for growth right now and decent interest rate levels is the u.s., the developed world, the g7 or whatever so we have some dereg in there things are doing okay. that's why the markets are not tumbling we're entering the worst part -- or ending the midterm election cycle, everybody is concerned that the gains through september -- >> will we take a break before the midterm elections? the market did nothing for a year before the presidential

elections? >> i don't see much of a break the next few weeks is normally a time when we do see those breaks fundamentals are in place. not a lot of negatives here for the sthohort to medium term. >> we have about six weeks jeff hirsch, thank you very much. your top corporate and stock story today is shares of bed bath & beyond, they are slipping big time after their quarterly numbers. eric chemi joins us now. what happened there? >> the retailer's stock falling as much as 15% in extended hours. u.s. consumers may be spending again but bed bath & beyond is struggling to get them into stores or giving out too many of those coupons. the company's second quarter earnings and revenue missing forecasts, same-store sales fell for a sixth straight quarter, down 0.6%. analysts had been looking for an increase of 0.3% the company also cutting its full-year guidance to the lower end of the previous range.

bed bath & beyond has been trying to boost foot traffic in stores and increasing presence online the ceo said improve is needed in e-commerce but in-store promotions will be key to maintaining customer loyalty and stiff competition from the likes of amazon. we know they're opening their own store. shares of bed bath & beyond are down about 28% this year >> it is not a good year one of the weakest if not the weakest major retail stocks this year in america. many others have done great. we'll see you in a few minutes shares of another retailer based in sweden, h&m, are spiking in europe. the company is reassuring investors it will not have to cut prices to move unsold clothes, despite reporting a 20% drop in second quarter profit. analysts point to a slight beat on gross mar jgin and see improvement in supply chain issues

up next, a consumer alert. gas prices nearing a four-year high we have more news now that saudi arabia may be ready to pump more oil. we'll tie those stories together. and big tech meet big government amazon, apple, google taking the stand on data issues what they are saying about your privacy next ng] need a change of scenery? the kayak price forecast tool tells you whether to wait or book your flight now. so you can be confident you're getting the best price. giddyup! kayak. search one and done. [kno♪king] ♪

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. all right. good morning sun not up yet, new york the city that never sleeps things are always busy it's time for a "worldwide exchange" special look at costs. yesterday we talked about how consumer confidence was just up here, 18-year high well, it's not all wine and roses. there is some concern that higher costs will slow down the american economy it's not just tariffs. look at this comparison to one year ago one year ago gas prices, 2.57 a gallon up 10% to 2.87 now pump prices are at a four-year high on a seasonally adjusted basis. and if oil keeps going up, the average price of gasoline will go up as well. remember you use about 600 gallons of gasoline on average. if prices go up 50 cents, a buck, you are looking at $300 to $600 more a year for gasoline.

and look at interest rates and the move on the ten-year one year ago, the ten-year at 2.2% it's now 3.03%, maybe higher than that. almost a full percentage point above that that's driven mortgage rates up from, according to fannie mae, 3.8% one year ago to seven-year highs. the 30-year mortgage, 4.65% on average that will drive up the monthly cost of a $500,000 mortgage by $2,000 per year. simply coming out of the american consumer's wallet because rates ticked up. now, wages have risen but not at the same pace as some of those costs behind us. yes, we now have new tariffs on thousands of items that did not exist a year ago we don't know how much those will impact prices, but those are out there. tariffs alone likely will not dent consumer spending we have the tax cuts as well,

but one wonders tariffs combined with that and that will do damage to the u.s. consumer. let's move on from this and get to our guest and talk about what this might mean joining us now is larry mcdonald you pointed this out we're not trying to say there's a reason to worry yet. it is clear the american consumer will pay more for all kinds of stuff is this a risk to a slowdown in the u.s. economy >> the good news for the bond market, the best news is that it's a bit like the stock market in 2007. the bond market today is so, so short bonds, this is a classic example yesterday. the fed comes out, and you're right, you made a great observation, they took out the word accommodative, a slightly more dovish shift. across the world all those shorts because the fed -- the hawkish borrower was high, and

the fed at the end of the day wasn't as hawkish as the market expectations came in so everybody covered their shorts and bonds went up, yields went down. so every fed meeting you are seeing a tremendous amount of people, because of what you're talking about, the investment community globally a lot of investors have been betting on higher yields. it's a crowded trade so the bar is high if the fed is not hawkish enough, people buy bonds >> yesterday we saw the ten-year yield at 3%. we saw yields come back just a bit. the markets did fall off a bit on concerns for financials but were you surprised that kind of the lack of overall move to the federal reserve yesterday? >> yeah. i was, but when you talk -- over the years when you learn about

rates. my younger years i spent a lot of time on equities, the last 20 years more time on rates, some of the smartest people on planet earth trade dollar futures something important happened in the last 10, 15 days you can make a bet in the euro/dollar futures, so a bet on where the rate hikes will be way out in the future. what's fascinating is the 2020 -- hedge funds, asset managers in the world can bet on whether or not the fed will hike rates in 2020 or cut rates in 2020 and most of the summer, most of the last eight weeks to maybe 15, 20 weeks, people were starting to bet on a rate cut for 2020, 2021 institutional investors, real money were betting on rate cuts. the first rate cut, you can make a bet on that. this week that has shifted back

to neutral to potentially hike at the end of the day what you're talking about in this segment which is fantastic, is starting to creep in to expectations in other words, the amount of rate hikes and when the fed actually starts to cut rates, that's going out in the future that actually plays back to what you're talking about with these costs, with the tariffs. >> we're already talking about rate cuts, we have not gotten through rate hikes yet >> exactly think about 2005/2006, the fed stopped. they did 17 rate hikes between 2002 and 2004, they stopped in june of 2006 but people were betting on how far that will go it's very important. that's where the market sentiment is so this tells me people are starting to buy in globally to, as you said, the tariffs plus oil, that's the wildcard now we have a supply issue globally

this is very important in 2014/2015 on the plan net eah $2 trillion was taken out in capital expenditures in the oil market, they didn't make enough money, and if we have a hot economy that will create an oil spike. so the oil spike plus the tariffs have investors concerned about the policy path going forward. >> larry mcdonald, appreciate you coming on. thank you very much. >> okay. still to come, we're on washington watch kind of a daily thing. president trump heading back to the white house after being at the u.n. yesterday we're live at the nation's capitol. and a sign of the time, mcdonald's making a change in its classic burgers. we're back after this.

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ignition sequence starts. 10... 9... guidance is internal. 6... 5... 4... 3... 2... 1... ♪ 5:24 on the east coast president trump will be heading back to the white house today after visiting the u.n. in new york the big focus in washington is still on supreme court nominee brett kavanaugh. tracie potts is live in washington with what we can expect with what is no doubt going to be a red hot hearing today. that hearing gets under way in a matter of hours with new allegations, some of them anonymous surfacing within the last 24 hours, at least becoming

public, unverified as brett kavanaugh heads into this hearing to face his accuser. headed into today's hearing there are now five accusations against supreme court nominee judge brett kavanaugh. he denies them all two came anonymously to republicans accusing him of shoving a woman outside a bar and raping a woman on a boat in long island. kavanaugh said he was never even there. >> this is getting into the twilight zone. you're talking about brett kavanaugh being a serial rapist as a sophomore in high school. >> reporter: julie swetnick now claims brett kavanaugh fondled women and was present but not necessarily a participant when she was drugged and gang raped in the '80s. >> no one has gone to the police to date, this is outrageous.

>> reporter: christine blasey ford will tell the committee that i thought brett would accidentally kill me when he allegedly attacked her >> i want to hear what she has to say. >> reporter: kavanaugh will admit he drank too much during high school and did things that make him cringe, but nothing like this both will be questioned by rich arachel mitca sex crimes attorney brought in by republicans >> the republicans are fooling themselves if they can hire a person one day to hide behind. >> reporter: republicans accused democrats of an orchestrated smear campaign >> i have not said i don't believe anybody, but i do believe the judge. >> reporter: democrats are calling for an fbi investigation. and for president trump to withdraw this nomination but the president is standing by his nominee saying his own experience with sexual misconduct claims leads him to

believe these are not true we'll see what happens at the hearing today. >> it is going to be a very, very busy day. thank you very much. let's check the other top headlines outside of money and business phillip has that >> good morning. right now millions of people are recovering fromcatastrophic weather along the eastern seaboard in connecticut another day of wild weather pounded the region with violent winds, soaking rains and flash flooding leading to this road collapse. some jaw dropping pictures from space show an off the charts massive super typhoon as it heads towards japan this pacific storm is capable of striking with a force equal to a category 2 major hurricane in the atlantic trami has already brought widespread flooding across asia. the eye is expected to hit japan by this weekend. and relief may be in sight for cramped airline travelers as the house approves a bill

regulating airline seat sizes. the faa reauthorization act extends funding for another five years but also includes a provision giving the agency one year to come up with minimum requirements for leg room. those are some of the other headlines. mu me orwichor"wldde exchange" when we come back.

courses confirming to cnbc moments ago that saudi arabia may be ready to boost output if supply and demand don't match up. big technology meet big government amazon, apple, alphabet taking a stand on data issues and the story that will have everybody in the office talking today. a seal slapping a kayaker in the face with an objecctopus we'll show you the video when "worldwide exchange" rolls on. welcome back thank you for being with us on cnbc a lot of serious news out there. you have to see that kayaker video. that may add a smile to your face on a tense and divisive news cycle let's kick it off with your executive recap. eric chemi has the top headlines. >> good morning. here's what's leading cnbc right

now. the federal reserve raising interest rates for the third time this year the federal funds rate was raised a quarter percent to 2.25%. jay powell saying the u.s. economy is strong but he's closely watching global trade tensions shares of bed bath & beyond falling big time after its quarterly report the home goods retailer missing profit and sales expectations for the second quarter in a row. bed bath & beyond giving weak earnings guidance for the rest of the year. amazon is opening a new store that sells items that are rated four stars and above it is set to open today in new york's soho neighborhood there you go, check it out >> because nobody wants to buy two stars. one star, not even good. >> see ya. we are following a story in the oil markets. sources confirming to cnbc that

saudi arabia is able and willing to put as many as 550,000 additional barrels of oil on to the market if demand merits it those gains would come from about 200,000 barrels per day and resume capacity from pipeline issues. sources telling cnbc that this increased supply is reliant on demand if demand is apparent, supply will grow accordingly. remember, this jibes with what the ceo of saudi aramco told us in a broadcast exclusive that we showed you on monday >> maximum sustained capacity is 12 million barrels it's sustainable capacity. as you know, we have the reserve, 260 million barrels, other reserves by third party

that are available to sustain that maximum sustained capacity. that capacity is available some of it in days, some of it in weeks with a maximum three months to have it all available. >> president trump has been calling opec and saudi arabia to increase production. so the saudis according to sources say they are able and willing to put as many as 550,000 new barrels on the market if demand merits it you can see oil prices not reacting negatively, actually higher we'll see if that changes. in trade news. president trump taking new aim at canada as nafta talks with that nation stall. here's what president trump said at a news conference last night in new york about canada >> we're thinking about taxing cars coming in from canada that's the mother lode that's the big one

we're unhappy with the styles of canada we don't like their representative very much i love canada, by the way, i have so many friends there everybody. so many friends. but that has nothing to do with this. i'm representing the united states >> let's bring in ben white from politico and a cnbc contributor. no fodder for you in that press conference yesterday >> 81 minutes of pure gold for me nonstop. >> we'll call it wide ranging. that's the term we'll use what do you make of this increased tussle/fight/poke in the eye with canada? >> it was interesting. i had just come from toronto i was up there for an event with the canadian ambassador to the united states. he was talking tough, too. he said we're nice in canada, but we're also hockey players. i thought that was an interesting comment. it's clear that the president and his team do not really like chrystia freeland, who is

negotiating for canada, the foreign from canada an talks have gone told canada standing firm on the dairy issue and cultural protections and are willing to call the administration's bluff, saying we will not make the deal you want to make and try to get out of nafta, we'll see if you can unilaterally pull out. talks are at a bad point with the canadians. at the end of the day trump does want to make a deal. so there's a chance you get a deal, they're just not getting along well at this moment. >> the swipe there, chrystia freeland, former top editor at "the financial times," now canada's top trade rep she's the one who has gone out in front of the cameras. i wonder what the united states' beef is with chrystia freeland >> it's personality clashes. she was my boss at the ft. >> i did not know that

why do you think the administration turned its sights on her >> i think because they don't like the fact she's not willing to cave to what they want. the administration had an idea that they had this deal with mexico, and she would go along with administration. she said something about larry kudlow at one point that he's not the table so he shouldn't take so they're irritated with her style and the fact she's no willing to cave in to her demands. >> we're seeing headlines cross that saudi arabia may be willing and able to add 550,000 new barrels. they seem to be responding to what president trump is asking them to do you were just up in canada it's a proud country do you believe they'll just dig in their heels on this or ultimately will they back off

and say we have to make a deal here >> i think it's tough. if the administration goes through with these auto tariffs, that will be tough for the canadians to stomach that's an important part of their economy. that would put pressure on them. you know, you talk to canadians, they do not want their country to capitulate to this administration they think that they can survive under a zombie nafta that will stay in effect if trump tries to kill this one. and there are a number of things in there including dairy it's a powerful industry in canada and they want to protect some of their intellectual property, airwaves, and the administration is trying to change that the investor resolution dispute system, they don't want to change that. overall there's a strong sense i got that this is a moment where canada really just cannot say okay, president trump, we'll do whatever you want. >> yeah. a lot of u.s. cars are made --

my dad's chevy silverado was made in hamilton, ontario. ben white, thank you very much up next, it is game on fortnite season six officially launching today. check your basement, some of your teenage kids are probably downstairs playing right now we have all the tadeils on fortnite stick around - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall.

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welcome back

5:41 on the east coast good morning technology companies like amazon, apple, google telling congress they would back sweeping new rules over how they handle your privacy. arjun kharpal joining us now with more on this what achltthis what are they saying privacy is their business in a way, what are these companies saying they will do for us >> the overall message from the hearings was that all these big technology companies are happy for federal regulation to come in around privacy of consumers what they took issue with is if there was movement from individual states to introduce legislation. we've seen earlier this year california introduce a law or proposed a law around data privacy. it has similar kind of undertones to what we saw in europe with the general data protection regulation around giving consumers more control of data the companies argued that this will be an arduous process,

because if california introduces it what stops other states from introducing their own version of these laws which would not be effective. the tech companies say we need a federal regulation, something we can adhere to. but it doesn't seem like lawmakers have an idea what that might look like and that's what the market is focusing on. >> all right i want to switch gears they say we'll have arjun kharpal on the show today, i say he will not be on he will be holed up in his apartment playing fortnite, season six launched about an hour ago have you had a chance to check out season six are you a fortnite aficionado? >> as soon as i'm out the door in the london offices, i will jump on that playstation 4 and see what's going on. from what i hear, you have new characters, new skins coming a change to the map. fortnite a few months ago i

began playing it, it's because my 10-year-old cousin told me i have to. i was resisting it because i didn't want to get hooked. i put it on. my first game i came 15th out of 100 on fortnite. that's why this game is so popular. you always feel you can do better the world is open. there's so much to explore it's insane how quickly this game took off. my cousin has this on his gaming control, his phone, his pc as well you are seeing this massive explosion of the game. what was interesting yesterday as i was speaking to a professional e-sports player telling me about the rise of fortnite in e-sports, there's a lot of monetization around this game >> if advertisers wanted to reach millennials, there you go. you are starting to play for e fortni fortnite, there's a billboard in the game for coca-cola i don't play it, but 78 million

players every day? arjun kharpal, thank you very much go home, play the game let's find out what else you'll be talking about today. eric chemi has the top trending stories. you're not a fortnite -- >> i don't play video games. i play real sports, where you can get a concussion and break a bone and i love fast food. mcdonald's making changes to their burgers. the pickle that goes on there, that still contains an artificial preservative. >> there's no place for a pickle on a burgerment. >> it's kind of fun. >> the only thing good about the pickle is throwing it at person next to i in the car going down the road >> the pickle has many uses. that's why those preservatives need to be in there. and now that seal video. a man was out kayaking in new zealand. a seal came out of nowhere, slapped him in the face with an

octopus. another kayaker caught the ordeal on his gopro camera it's gone completely viral by tomorrow everyone will forget >> i can't stand that word viral. it's popular stop the word viral. >> it's popular today. >> viral is something you get -- >> those mushrooms you were growing at your house. >> my 4-year-old brought home a mushroom, which i think is a death cap mushroom how does a seal hold an octopus? >> they're talented. have you seen them they can do a lot of tricks. >> eric, let's talk about real sports a big hearing getting under way today. what more can you tell us in. >> while everyone will be talking about brett kavanaugh, the house judiciary subcommittee on sports will have testimony

about federal guidelines about sports betting ever since the supreme court made their ruling, every state can do whatever they want unless the feds come back in and make their own rule the sports leagues want to make sure there is official data, and they will talk about the societal effects of gambling, the addiction it has on young people, millennials, if they're addicted to fortnite and gambling, cushing the black market and what happens to pricing. we saw this with fanduel last week, there was an error in the pricing and this guy won $82,000, they said we're not going to pay you and then there's online gambling >> they want to get you in the casino, then you will buy drinks, food, play some blackjack blackjack. online you do not do that. at golden nugget they have embraced the sports platform they said we'll get the golden

nugget customer how ever we can. >> different groups have different preferences, and think about the tribal nations and their casinos. so they're saying can the fed come in and make a set of rules? >> i rewatched the seal video quickly. >> while i was talking thank you very much. >> the octopus was in the seal's mouth. >> yeah. >> it wasn't like the seal was holding it >> i'm glad you got to the bottom of it. >> it tried to bite the kayaker in a way >> or maybe just trying to eat the octopus. >> i often say seals are deadly, dangerous, just bad. the death cap. up next, the fed is in focus from rising rates to talking trade. jay powell addressed it all. we'll dig in on his comments and what it means for your money and markets ahead. and grading market performance. the one sector that is dominating all the rest.

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annuities can provide protected income for life. learn more at retireyourrisk.org welcome back we are following a major development in the oil and energy markets sources confirming to cnbc earlier this hour that saudi arabia is able and willing to put as many as 550,000 additional barrels of oil on to the market, if demand merits it. those gains will come from 200,000 barrels a day from its oil field and resumed capacity from pipeline issues in saudi arabia sources tell cnbc this increase supply is reliant on demand. if demand is apparent, supply will grow accordingly. this jib with what the ceo of saudi arabia told us on monday

>> the maximum sustained capacity is 12 million barrels, and it's sustainable capacity. as you know, we have the reserve, 260 million barrels, other reserves by third party that are available to sustain that maximum sustained capacity. that capacity is available some of it in days, some of it in weeks with a maximum three months to have it all available. >> oil prices certainly have been the story of the markets the last couple of days. we'll show you just how much in a couple of minutes. the markets not responding negatively brent crude, wti, they are up. gasoline prices officially hitting a four-year high brent crude prices nearing a four-year high as well the president, president trump has petitioned, pushed, prodded, poked opec to try to put more

oil on to the market here. we'll see if that ultimately reacts let's find out what's coming up on "squawk box." andrew ross sorkin is here with a preview. >> hey, how are you? >> how are you >> we have a big show ahead. we have a couple people you have to know about today. there's a lot going on we are chit-chatting while you were chit-chatting mick mulvaney will be with us. we have our guest host, maggie a number of ceos the ceo of hershey on deck the ceo of docusign and a lot more there will be an overhang of all the news we're not -- not business news, but other news going on today i don't know what that is. >> what's going on >> i don't know. a lot of business news >> a lot of news out there >> i don't know what that's about. >> andrew ross sorkin, thank you. happy birthday, google

the company formerly known as back rub turns 21 years old. in its honor they're celebrating with a google doodle. it highlights some popular search terms in google history that including y2k, pluto's planetary downgrade and the royal wedding. one stock to watch today is bed bath & beyond. that will be not a good stock. not good for investors that stock falling as much as 15% in extended hours trading. u.s. consumers may be spending again. most retail stocks are up. bed bath & beyond struggling to get those consumers into stores. second quarter earnings and revenue missing forecasts. same-store sales fell for a sixth straight quarter down 0.6%. the problem is analysts have been looking for an increase of 0.3% it's also cutting its full-year guidance to the lower end of the

previous range bed bath & beyond has been trying to boost foot traffic in its stores and increasing its presence online. the company's ceo said improvement is needed in e-commerce but in-store promotions are important for customer loyalty and stiff competition from amazon. shares of bed bath & beyond are down about 28% this year shares of another retailer, h&m are spiking in europe today. the company is reassuring investors it will not have to cut prices further to move unsold clothes despite reporting a 20% drop in second quarter profit. analysts point to a slight beat on gross margin and see improvement in supply chain issues >> stocks turning down after the federal reserve's statement yesterday removing the "a" word,

accommodation from its statement. nasdaq and s&p moving higher unchanged we'll call it markets can go anywhere today. for your morning rbi, the most random and interesting thing you will hear all day today, this is things oil is better than. when frank comes up and brags he made 17% on his s&p 500 investment this year, you tell frank that you made 40% because you bought oil a year ago. yeah, did you know oil prices are up 39% in a year in fact, oil has been a better investment over the past year than the s&p 500, the dow, the nasdaq, facebook, 23 dow stocks and every single commodity except hot rolled steel which has been subject to tariffs. oil is trumping all the major indexes. that's it for "worldwide exchange." it was a very, very busy

thursday thanks for joining us. we'll see you tomorrow "squawk box," that team, do not miss it, they're up next ignition sequence starts. 10... 9... guidance is internal. 6... 5... 4... 3... 2... 1... ♪

good morning president trump making headlines on many topics including the world of business, from the trade war with china to nafta negotiations with canada see what he said about canada? all the way to the fed's interest rate hike we'll show you what he said and what the reaction was. and we'll have reaction from our "squawk" newsmaker of the hour, mick mulvaney will join us on the set to talk trade and taxes. and consumers are not finding their way into bed bath & beyond stores. the retailer missed on its latest earnings report the stock is getting crushed it's thursday, september 27,

2018 "squawk box" begins right now. ♪ live from new york where business never sleeps, this is "squawk box. good morning welcome to "squawk box" here 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. let's look at the u.s. equity futures. things were shaping up to look like a mixed picture earlier that's the case now. the s&p up by less than a point. dow down by 4. the nasdaq off by 11 this comes after yesterday's declines in the markets even though we did see some gains in equities after the fed's decision and hearing some of those comments we'll continue to watch this the s&p is now in danger of closing negative for the month of september if we continue on these trends dow has been down for three sessions in a row but still on a positive track for september