. >> hi, wilf.onsumer staples is one of two sectors in the s&p holding its value during this wild month and even after yesterday's wild swings that sector up 1% since the start of october alcohol related stocks in the group have been going in the opposite direction when we look at the group, we'll see brown-forman seeing the steepest fall down over 8% molson coors down almost 8%. mode modello down 6%. constellation with a huge investment in canopy, that stock down 14% at the close. another alcohol stock we've been looking at, not in the group in the s&p, but doing worse anheuser-busch inbev down. difficult month in beer an wine but other consumer staples doing good >> frank, lovely stuff looking forward to seeing you later in the show. >>> coming up, where u.s. investors can find big opportunities overseas plus milk's favorite cookie enjoying a nice pop. we're breaking down mondelez's results when "worldwide exchange" comes ght riback show my kids the world. ♪ ♪ the one in three dimensions. ♪ ♪ so t

i do think that speaks to this broader point, wilf.occurring during a sensitive time for google, facebook, big tech in general when obviously a lot of regulators have questions about these very kind of issues like user data and privacy principles, guys. >> yeah, the optics are not great. josh, thank you. josh lipton in san francisco. >>> up next, mike santoli explains why this chart may signal a buying opportunity in bonds. >>> plus -- chart's coming for you. don't worry, no, it's not coming for you but it's a good one. trust us. >>> plus, rising rates may be hurting. wall street right now. we'll explain why this may be welcomed on main street. when my hot water heater failed, she was pregnant, in-laws were coming, a little bit of water, it really- it rocked our world. i had no idea the amount of damage that water could do. we called usaa. and they greeted me as they always do. sergeant baker, how are you? they were on it. it was unbelievable. having insurance is something everyone needs, but having usaa- now that's a privilege. we're

back to you, wilf. >> thanks very much for that one.inished the day on wall street, the dow was higher and off its highs, up by 54 points the high of the day was up 78 points, the s&p just fractionally higher. the russell having suffered significantly the first two days of trade this week was up 1% let's have a news update now with sue her rare a. hey, sue. >> hello, wifl, hello, everybody. republican senators may get the results of fbi investigation into brett cavanagh as soon as this afternoon the probe was ordered following the supreme court nominee's testimony last week over sexual assault allegations. >>> a volcano is erupting in indonesia right where the deadly earthquake and tsunami hit last week authorities are warning planes about volcanic ash in the air. so far no evacuations were immediately ordered. >>> an investigation is underway into a rash of break-ins at a university of cincinnati parking garage thieves broke into about two dozen cars overnight and stole one of them. no word if any of it was caught on video. >>> and thi

you are up-to-date that's the news update this hour busy news day so wilf, i'll send it back to you.nk you ever so much as we head to break, a quick check in on the marks, which are higher we are pretty much at the highs of the day, up 26 points on the dow, 0.1%. the nasdaq leads the charge up .75%. we're back in a couple of minutes. dealing with millions of customers a year, like this one. no, i'm pretty sure i didn't order a squirrel playing a guitar. that's why you work with watson. it works with your systems to resolve calls faster and improve customer satisfaction. i detected fraud and helped reassign a new credit card. honey, they're overnighting us a new card. woooo!!! woooo!!! for ai that works with tools you already use, choose watson. hello! the best ai for the job. >>> welcome back to "squawk on the street." i'm sara eisen with wilfred frost. the nasdaq is on track to break its three-day losing streak. a lot of what was broken off is coming back today, discretionary, technology, communication services, all the fang names are higher. dow up 28, nasdaq in the lead up .75% as

let's have a breakdown kate >> hey there, wilf alcoa reporting a pretty strong q3 with eps coming inalling for 36 cents adjusted and revenues beating $3.93 billion for the quarter. estimates were looking for $3.13 billion. the company announced a share buyback program up to $200 million, and we should note earlier in the date company announced the closure of two of its plants in spain. they will be laying off 700 workers, two of the least productive plants there. the stock is lower now but it had been up about 1% the corporate call is at 5:00, and we'll bring you more when we get that back to you. >> great, kate thanks for that. flat, a bit of a jump. >> big decline into earnings though, down 23% in the last three months remember when this used to be a bellwether >> it was the belle weather, and the first one to report and all the rest. >> of course, they have split the company. >> materials, energy suffering today. >> the energy move we saw i think purely crude and the rotation was there, right in the banks picked up a bit of the slack. >> and the dollar was up today. >> the same wa

. >> me and wilf were working the hole time i hang out with wilf people often think that -- >> any readrom mondelez? >> no. rotation look at mcdonald's it's mcdonald's. these are stocks that aren't up. >> right. >> they're not crowded nobody owns them the economy is rolling over. >> you always want to buy malomars. >> that's the season. >> three-month t-bill yielding 2.3, highest in a decade i saw the etf, one to three-month e-bill etf what do you tell viewers who want to know how much -- >> tell them cds are really unbelievable value look, i recommended and like amazon i continue to like amazon. i like intel. >> you would rather t-bills? >> yes the upside is limit. >> day after spending a third of its market value to buy red hat, ibm is up. it was only down 4% yesterday in a very negative take. >> jimmy was on the money. i thought she told a great story. red hat sends you to google cloud, amazon, azure at the same time, you have your proprietary cloud, which is very secure it's encrypted that ibm offers it's a good deal it's a good deal. >> ge up 1%. >> larry koch told a good story. s.

wilf >> contessa, thanks very much for that let's focus in on restaurants. kate rogers? >> restaurant stocks closing right in the red rather right along with the broader markets today. the stock that took the biggest hit today, shake shack closed down more than 7% and domino's closed down 3.25% followed by starbucks and chipotle closing down around 3% today interestingly enough, bob mentioned this, a lot of today's biggest losers were some of the best performers for the year, including chipotle up around 50% year-to-date and tom know's pizza up around 45%. so far the only restaurant stock that closed in the green, brinker international, the owner of chile and macaroni grill. mcdonald's was positive earlier in the day thanks to the upgrade from guggenheim before it closed down almost 1% nd, of course, the selloff comes before a wave of restaurant earnings that are coming in the weeks to come. guys, back over to you. >> okay, kate. thanks very much for that. let's now go to leslie picker for the impact on hedge funds. >> i want to read you a line from a report that i got t

wilf, back to you. >> thank you very much for that. let's check in on some of the other headlines.arlee hall is in new york with the latest >>> good morning james whitie bulger is dead and authorities expect homicide. he was found unresponsive in his west virginia prison cell one day after he was transferred there. he was serving two life sentences for his role in 1 murderers and a laundry list of criminal activity. >>> president trump is kicking off a whirlwind tour across the country to try to sure up support ahead of the midterms. the last-minute blitz comes as the president faces criticism over his controversial immigration policy he sent troops to the border to stop the migrant caravan and is now pushing to end birth right citizenship with an executive order. >>> in toronto a water main break caused the ground to soften and swallow up everything in its path. an emergency transit vehicle happened to be parked in the wrong place at the wrong time as the sinkhole worsened. luckily the driver escaped before the car became submerged. back to you. >> thank you very much for that. le

i'm sure there will be questions about what we're hearing right now and goldman david solomon with wilfk it's his first interview since ceo. >> and an eye on investor earnings, kansas city southern and honeywell to name a few. >> let's go to the judge and the half >>> i'm scott wopner, the question is the bull market more at risk today than it's been in the past eight years or have investors become just too fearful of rising rates? your money might hang on the answer this is the halftime report we're getting right after it today with the markets selling off at this hour we want to discuss and debate with our panel today we have with us, one of the biggest stories of the day, joe terra nova lindsay bell is with us, cra's chief investment strategist. let's begin with the markets, stocks are at the low of the day,

he did a nice job with wilf today. but this is an amtzing franchise. but the biggest risk is where are we in the cycle where do you dip in the water because if the economy starts to turn this stock is back at $150 in two years it's that simple if it's trading one times book right now. and every strategist we bring on every bank analyst we bring on, every investor on this air is pounding the table to buy goldman sachs and it trades like crap the way it does now what's going to turn it. >> hold on would you say, then if the book value went down from a one times book value. >> it goes to guy's 139 87 the company had $45 billion in sales in 2007. they cot cut in half back to peak earnings 25 bucks the return on equity is lower to your point and now working with much lower taxes. the numbers just don't add up right now. so to me it's got to be all the other stuff. the only reason why jp and bank have the alleges o valuations at 1.5 times book or whatever is because the capital base and how they make money. they do it differently and in a different steal wan

will be questions about what we're hearing right now and goldman david solomon with wilf, i think it's his first interview since ceo. >> and an eye on investor earnings, kansas city southern and honeywell to name a few. >> let's go to the judge and the half >>> i'm scott wopner, the question is the bull market more at risk today than it's been in the past eight years or have investors become just too fearful of rising rates? your money might hang on the answer this is the halftime report we're getting right after it today with the markets selling off at this hour we want to discuss and debate with our panel today we have with us, one of the biggest stories of the day, joe terra nova lindsay bell is with us, cra's chief investment strategist. let's begin with the markets, stocks are at the low of the day, fed minutes to suggest and draghi comments, warning about italy and other members of the eu sort of a stew of uncertainty at this moment >> scott, we were doing okay until about 11:25, 11:30 i mean the s&p was down about .3%. where it broke to new laws and went down more than 1% when w

is there anything wrong with saying wilf is a lovely man? >> training worked, huh?at >> you explain what you're talking about? >> we need to be respectful and there's certain things in the work place that are acceptable >> apparently it's not >> for british people -- uh-oh now i'm -- >> oh, gosh. >> okay. we got to -- >> in the british -- >> we got to bring some -- >> i see it as a compliment and i say thank you, joe >> have a lovely day >> thank you very much >>> we have news to bring you this morning in addition to what words may be good or bad prudential financial has lost its so called sifi designation that designation had brought with it a lot of extra supervision. prudential had never met the label of sifi. they are now saying now this decision for it no longer to be a sifi is a, quote, appropriate one. that should actually -- it hasn't moved the stock just yet. but potentially it will. no more annual stress tests. >>> when we come back this morning, netflix shares soaring after the giant crushed quarterly earnings estimates and subscriber numbers we'll get wa

. >> wilf, thank you >>> coming up, our guest host mohamed -eanelri he'll join us in a moment. on at.u clients? well jd power did just rank them highest in investor satisfaction with full service brokerage firms...again. and online equity trades are only $4.95... i mean you can't have low cost and be full service. it's impossible. it's like having your cake and eating it too. ask your broker if they offer award-winning full service and low costs. how am i going to explain this? if you don't like their answer, ask again at schwab. schwab, a modern approach to wealth management. ♪ ♪ fight security threats 60 times faster with ai that sees threats coming. the ibm cloud. the cloud for smarter business. >>> international pressure mounting on saudi arabia following the disappearance of a saudi journalist we're live in riyadh with the details. plus market reaction from guest host mohamed el-erian. >>> washington comes to wall street senator pat toomey is here with reaction to the president's "60 minutes" interview last night. >>> plus an iconic retailer closing its doors. those stories and m

wilf, back to you. >> okay. rick, thank you very much.sentially flat today hasn't moved too much off the back of this data. steve liesman here with his take i guess the key thing is not enough there to really worry markets to a further spike higher in yields >> you're right to point that out. there's three things we're looking for in this day pa and i think you hit the first one right there which is kind of on the edge of our seats here. trying to see what the inflation story is to understand what the outlook is going to be for the bond market. and of course the federal reserve. i don't think this does much it shows a little bit -- the thing we call the core is ex-food, energy, and trade that's up 0.4% two push me, pull yous in this data here. the first one is rolling off of the hurricane. you have the surge in prices that happens in the wake of hurricanes it looks to be exerting a little downward pressure inside the other one are the tariffs. in this report, you have the new inclusion of $50 billion in the october one, this is september.

. >> we look forward to that interview, wilf.d frost. >>> a judge has approved elon musk's settlement for allegations when he said he needed to secure the funding to take tesla private $20 million civil penalty, david, as you know of course, relinquishing the chairman role, at least for a while. >> three years at the very least. question is, who will take that role there's been a lot of speculation. unclear at this point who will be the leading candidates and who would want that job, frankly, because it's not going to be an easy one, given his penchant for acting out. >> has it died down? >> it did. he tweeted it wasn't it's not clear to me, based on what i'm aware of, who will be the leading candidate. and two independent directors under that settlement, which now is official ruling by the judge. >> we'll watch that today. >> walmart is announcing it's trimming its forecasts for the year we'll check in with former ceo of walmart, bill siemens will join us, talking about the shares rallying in the face of that stocks on the s&p,

worst is behind us what are your thoughts there >> so, i've been early and this has been a joke with wilf and sara put some money into turkey for my kids and was early and down 40% for the year and just got pummeled once again so i do think on the risk/reward buying into emerging markets is okay. is it going to be a quick, you know, leap forward going into year-end, i don't know i think we'll have fits and starts, but i would say on a relative basis we've seen what the market does here we've seen that this is the favorite spot for everyone to be in the u.s. and if we can look at the emerging markets as a bet going into year end that's okay but just be able to take those headwinds from the headlines on everyday occurrences. >> i got a strong stomach to go there. thanks so much steve grasso, director of institutional sales at stuart frankle. >>> president trump holding a press conference take a victory lap on trade. back and forth of brett kavanaugh's nomination the fifth it's risk to government a government getting too small to function with michael lewis next ron! soh really? going on at

. >> thank you, wilf, for that wrapup we want to remind everyone to not to forget to tune in for the interview with david solomon >>> coming up, netflix out with earnings after the bell. one of our next guests says there are four key things he's worried about. he'll tell us what they are. plus, a dire warning on the housing market from the biggest money manager. the trump administration just proposed something that one analyst said could propose analysts to pull tv ads. s&p sectors in the green "power lunch" is back. so what else is new? how's your mother? umm..she's doing good. she needs more care though. she wants to stay in her house. i don't know even where to start with that. first, let's take a look at your financial plan and see what we can do. ok, so we've got... we'll listen. we'll talk. we'll plan. baird. unstopand it's strengthenedting place, the by xfi pods,gateway. which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. >>>

. >> is wilf a sir yet >> goldman did raise their target on tesla to 225 from 200. >> that's real value-addeda fed official who is not powell who can say we are seeing some strength and weakness. >> you mean -- we are going to have a recession -- no recession. no one is talking recession. that was a bogasity. i made up that word for you. >> i like it. >> yellen talking leverage loans is a little -- she is getting closer to that. >> that was off the mark. come on ms. former chair woman. it's just about the data. it's about housing. it's about autos. it is about construction. i was with a group of entrepreneurs in philadelphia yesterday. too expensive to build. it has to come down. there is tight labor. be careful what you wish for. it is going to be weak labor real soon. >> on that point, draghi is making comments about real estate and other things as the ecb holds study. steve liesman has been monitoring that. >> euro has been in free fall for about 20 minutes now. take a look. it's not a lot when it amounts to it. look at that kind of sharp decline there in the euro that happened when draghi

guys >> all right, wilf going to see what happens throughout the trading session thanks >>> coming upy the trump administration will require drug companies to include prices in those television ads that run nonstop. health and human services secretary alex azar will join us after the break to discuss the change stay tuned the sun comes up. the sun goes down. you did a million things for your family today. but speaking to pnc to help handle all your investments was a very important million and one. pnc. make today the day. >>> welcome back to "squawk box," everybody. take a look at the futures we've been building through the morning. s&p would open up by 9.5 points if we were to open here. remember this is after the s&p has closed down for seven of the last eight sessions. nasdaq indicated up by about 45 points >>> the trump administration's unveiling a new plan that would require drug makers to disclose prices of medicine in television ads. here now health and human services secretary alex azar secretary azar, thanks for joining us >> good to be with you >> the rationale is if consume