, joined by dallas fed president richard fisher, american airline ceo doug parker and texas governorry. i will be part of that next as i am every morning at 9 a.m. eastern time, on the fox business network. >> up next, scotland has been part of united kingdom for over 300 years. we will know shortly if that association is officially over. former british parliament member john browne on the political and economic consequences of that decision, next. for the mastic violence. peter shrader joined us on that. and a vote for the united kingdom is underway right now. the cry for independence, some say goes beyond. >> it has been terribly mishandled by a guy that everybody knows, and it's very interesting. i think that there is meaning in this and it goes beyond scotland. there's a great groundswell. sandra: vote stands as too close to call. my guest says that that independence comes at a hefty price, one that the scotland people may not be aware of and one that may affect the global economy. senior strategist john brown joins us now. thank you for joining us. >> thank you. >> you just hear

, joined by dallas fed president richard fisher, american airline ceo doug parker and texas governor rick perry. i will be part of that next as i am every morning at 9 a.m. eastern time, on the fox business network. >> up next, scotland has been part of united kingdom for over 300 years. we will know shortly if that association is officially over. former british parliament member john browne on the political and economic consequences of that decision, next. rformance can mean lower returns and fewer choices in retirement. know that proper allocation could help increase returns so you can enjoy that second home sooner. know the right financial planning can help you save for college and retirement. know where you stand with pnc total insight. a new investing and banking experience with personalized guidance and online tools. visit a branch, call or go online today. i wish... please, please, please, please, please. [ male announcer ] the wish we wish above all...is health. so we quit selling cigarettes in our cvs pharmacies. expanded minuteclinic, for walk-in medical care. and created p

richard fisher, he of the dallas fed, a well-known hawk, aggressive this morning saying the fed may raise rates by the spring of 2015. earlier than anticipated and made similar comments before. he took a shot at the high yield markets. he said in particular, beginning to see extreme risk taking in the junk bond market. surprise. high yield down and that's affecting those areas. these sooner rather than later comments also affecting emerging markets. they're interest rate sensitive, as well. no surprise, the eem, look at that, down more than 2%. turkey, india, the emerging market etfs are weak and rather high volume. other issues, sue. rather vague reports, unconfirmed, that the russian government may enact a law to seize foreign assets on russian territory in response likely to western sanctions. unconfirmed but you see what happened here to germany as these reports came out, before our open, their market's headed down and then started to accelerate once the u.s. market opened. this is a big issue over there because if the conflict escalates we have no growth in europe. we could tip it in

. >> importantly about to get data from the dallas fed. erview over the weekend, worried the fed might be getting behind the curve on raising interest rates. not a new position but what he did say either today or tomorrow the dallas fed would release data which he said, quote, would knock your socks off. that may move the treasury market after an interesting day. >> unusual for a fed president front running regional data like that. but dallas has been strong. texas and other oil-rich states have been outperforming. >> we know where that feeds in terms of fisher's world view. >> yes. >> rick santelli in chicago and see if it does knock our socks off. rick? >> you know, socks are ready. trying to see what this number is. it should be out any moment. last look was 7.1. the high water mark for the series was 25. and that was back in april of 2010. i still don't see it being released. expectations somewhere 10 to 12, 10.8. i know that's strong but the socks don't seem to be knocked very far in this one. 10. 8. it was 12.7 in july. i don't want t

hawks like dallas fed president richard fisher continue to pound the table on rising inflation, one billionaire investor says inflation concerns is thing of the past and something out there the fed should watch. wilbur ross, "first on fox business" interview? liz: what is he buying now? he is never scared to rush in. massive flight delays and cancellations from the nation's busiest airport still continuing. a long tale here. how much longer will this last? how are airports across the country responding? it matters to you and anybody that is traveling. we'll take you live to chicago o'hare's airport. ashley: domino effect. do you agree or disagree with wilbur ross, should we be worried about inflation? facebook.com/afterthebell. we'll be right back. ♪ 3rd and 3. 58 seconds on the clock, what am i thinking about? foreign markets. asian debt that recognizes the shift in the global economy. you know, the kind that capitalizes on diversity across the credit spectrum and gets exposure to frontier and emerging markets. if you convert 4-quarter p/e of the s&p 500, its yield is doing a lot better... if

we are almost through the year of the hawk versus the dove because dallas fed president fisher and placer from switzerland will be leaving. mid-year 2015 interest rates hikes will be slow and steady, and you will have dissenting opinions, doves dissenting with other doves about the pace and the level of the interest rates. that's giving a look to the market. overall, liz, i would say i can make a bull case or a bear case for pulling back some, i don't think we're going to get new highs or 10% correction in the offing any time soon until we get through the middle or late october. liz: i'm surprised you're saying that about new highs, looks and feels like we might. you could be right. everybody stay tuned to chris later on in the show, put aside september, it's novand december, you have to what are he has to say. alan, right in front of me, big tech looks unbelievably healthy. financial services all green, industrials, except for ge pretty much all green and the consumer names, this is a widespread rally, is it not? >> yeah, as much as things change they remain the same. technically speakin

fisher of the dallas fed, a hawk, said that he believed that the continued strengthening of the economy warranted a quicker reduction in monetary easing than is suggested in today's forward guidance. president plosser of philadelphia, also a hawk, objected to the policy guidance as well. he doesn't like the fact it is calendarer-based. on the new plan updating the 2011 plan for how the fed unwinds this 4 1/2 trillion balance sheet and how it manages interest rates going forward when it starts to raise them, it announced it will formally employ two new tools. without getting weedy, one is what the fed pays banks on excess reserve, interest rate it pays then. the second is so-called reverse repurchase agreement facility. again it will help them fine tune interest rates as it starts to raise them. and it says that it will reduce its holdings of bonds in a grad all and -- gradual and predictable manner. we want to look at economic projections, updated economic projections. not much change from the june projections for 2014. the big, the big change is in the gdp growth projection for 2015. a

risk and one of the components of this selloff that we had were remarks by richard fisher of the dallas fedarning there was a real risky profile building in the high yield and that spilled right over into the russell 2000. >> by the way, that russell off 8 1/2%, i think? >> by far, the laggard, as you point out. secondaries have really lagged the blue chips here. >> and add one more thing that has only recently come on to the radar is keep an eye on sovereign risk spreads in europe, because draghi announced, he admitted that the european growth scenario is unwinding faster than anyone thought. see sovereign cds spreads move higher, could be more on the downside on the risk off trade if that starts to develop. >> if this is the market pushing central banks broadly speaking for some kind of response to call it collapsing inflation expectationser whatever is it possible that it comes in the form of ecb and phil blaine, uk-based investor, was saying, look, maybe it's the european central bank that's going to buy u.s. treasuries here? >> they won't buy even if yields go up, that's definite. i th

richard fisher head of the dallas fed, a hawk, was very aggressive this morning in a statement made in rome saying the fed may raise interest rates by spring of 2015. we saw the markets move on that. we also saw him make a very specific comment about the high yield market saying he's beginning to see extreme risk in the markets implying it might be a bubble. no surprise here. high yield etfs to the downside. .6%. we have other issues out there. emerging markets get hit. you see the eem. in turkey and india. second biggest issue is there is reports out, they're not confirmed, that the russian government may be enacting laws to seize foreign assets. not happened yet but the concern about that dropped the german, in fact, all of the european markets prior to the open. take a look at germany here. this is where the announcement is made roughly 8:45. here's our open here. you can see our open added to the concerns in europe. the reason we don't need this in europe is we have no growth. france is the same thing. in europe, this is the kind of conflict that could turn europe into negative gro

comments today from dallas fed president richard fisher telling maria bartiromo this morning the fedh earlier than many expect. >> i personally would want to see the date of our first move, i personally expect it to occur in the spring and not in the summer as it seems the markets are discounting. cheryl: businesses and investors reacting with relief to scotland's decision to stay part of the united kingdom. the no campaign won 55% of the votes cast in yesterday's referendum. some had warned if scotland left, uncertainty about the currency and government debt would have rattled an already fragile u.k. economy. and prada will be opening fewer stores this year after the fashion label reported a 21% drop in profits. prada's cfo says it does not see improvement in in the luxury market coming anytime soon. and those are some of the hot stories right now on foxbusiness.com. we will be right back with the answer to the question of the day. have you ever gone to work, i don't know, under the influence of something? pick one. think about it. answer the question. we'l how much money do you hav

what ben bernanke learned in his 2002 -- they had this big meeting honoring milton friedman at the dallas fed and ben bernanke wrote an article about that meeting and said, we want to apologize on behalf of of the fed for the major blunder that we committed and causing the great depression. we have learned our lesson, mr. friedman. we will never let it happen again. but they came close, didn't they? you do not know how close they came to having another great depression in this country. it was not necessarily caused by the federal reserve. i think they pushed the economy over the cliff. and then held out a lifeline. very interesting experience there. the impact of this book. you cannot discount the impact of this book has had on the way we view dealing with crises in the future. and then this other book, "capitalism and freedom," those are the two books -- if you go into any barnes & noble bookstore -- do they still have those? you go into any bookstore and you will find a copy of "capitalism and freedom" with my index -- [laughter] right along with all of the other classics like the communist

i don't know his dovishness or richard fisher's hawkishness from the dallas fed has made a huge differencet the two-day chart of 10s, didn't get to the high yield so we're drifting to the low yield, from friday. if we look at month to date, excuse me quarter to date of 10s, this is significant. about five basis points down on the quarter. the markets are discriminating. a quarter to date of the lqd, investment grade, getting its sea legs back to some extent. as bob pointed out when you go to the junk area like hyg it is still moving lower at 12-month lows as we speak. judge, back to you. >> okay. rick, thanks so much. bob, thanks to you as well. >>> it's been about a week since alibaba's munster debut on the new york stock exchange. and now there's another way to play the internet giant. the options start trading today. which means our resident options expert pete najarian has your trade school on that. what are you watching? >> sure. when you tried to figure out what the volatility of the implied volatility of the implied options was going to be going into this ipo it stood out easily. wh

good news on the dallas fed. let's backtrack to hong kong for one second. there. here is what barry kissel berry kissel had to say about it last hour. >> it is important. not because it is a beacon in the free market. it is important because it is a bellwether for china. the regime has absolutely no interest in democratic reform. stuart: keith fitzgerald will be back with us. what it means for us right here. what does it mean. take a look at the price of gold. $1.80 higher. look at dreamworks, please. winner on a down day. a possible merger or investment. now 20%. that is a rally. 23% of americans in their prime years. apple metro is with us. thirty-seven applebee's in the new york metro area. welcome back. >> i want you to give our viewers a picture of the restaurant business you are in. what does it feel like? >> like isis. we are under assault in our industry. it is incredible to me how far removed. washington is always far removed from things on the ground. still have not been able to navigate or figure it out. stuart: talking about obamacare. >> still

we had interesting remarks from dallas fed president fisher last night. he has never seen the credit markets so extended as it is today. i would look at the amount of risk-taking because the trade-off is between immediate economic impact and financial instability down the road. you don't want to get the trade-off to offsides. -- too off-size. >> do you get a sense that the fed is taken their eye off the ball and asset price bubbles? off sotaken their eye much as it is a risk they are willing to take. bubblish prices now because we believe -- a big assumption, but we believe that it will validate these prices down the road. that is not just a big bet for the central banks but society as a whole. >> you will stay with me through the opening bell. bloomberg view columnist and former pimco ceo mohamed el-erian. the domino's american dream -- we will talk to ceo patrick doyle about how workers are rising up through the ranks at his teeth the delivery chain and when things of all this pressure to raise the minimum wage. and we look at the white house reaction t

his shot for murdering it happened at the dallas fed is club when he picked up a way barked and struck another member apparently was over his girlfriend. >> reporter: is your fire was in court last week when he was arraigned she says that he may have been turning over two days before her boyfriend attacked. also today to man accused the starting seven fire on sunday morning will make their first court appearance the fire caused about $3 million in damage. the police are still as i determine if there is a link between the two men. >> reporter: they had a petition to take the gun away the family members could petition judges to take away because it could present danger. in that six people dead and 13 others injured. >> reporter: we have the hong kong to protest a lot of people have been following that story and also the raiders' head coach fired. and the apologues being unveiled. a lot of people have been a lot of interest in the apple watch. >> reporter: a lot of folks are stopping by and taking pictures. apple may be considered selling these have to watch is beyond the apple store at h

yellen said she wasn't too concerned about too dissents, the philly fed and richard fisher of the dallas fed to watch in the months ahead, kansas city fed president who has been critical of fed policy and former research director for plauser. there is a potential third dissent out there. >> we'll watch that, for sure. thanks so much. to are more on all the markets and the fed, let's bring in art cashin. good morning to you. you say yellen didn't call a strike, but managed to get a spare. >> yeah. >> one of the things they call the dots, the individual expectations and projections of the members. i think what we are seeing today may be, in fact, a little bit of an alibaba effect. you remember monday we had a heavy sell-off, particularly in the techs. a lot of people thought people might be raising money for alibaba to put projections in. not to get too inside baseball, but it takes three days for a trade to clear. sell monday to have the money by now. as these major funds in people are calling around, allocations are not out yet. if i'm a key customer and i requested a large amount, that sale

richard fisher at the dallas fed said he's seeing extreme risk taking in the junk bond markets. persist, this idea that there is money out of high yield and this is the start of something bigger. >> i think that could be a real problem. as i suggested and you said let's keep looking at the high yield etf and when you compare that with the russell 2000 you can see the riskier elements around the market are being hit right here. and as simon said a lot of nailing down profits on things that have behaved well for you. >> you've chosen not to mention this rumor about russia, which i find interesting. it's out there. a single deputy has filed a possible bill that would allow russia to basically impound foreign assets. that is all we have on the parliamentary website according to the moscow times but that seems to be doing the rounds that that could hit obviously germany primarily. >> and as i say the rumor mongers are out and about. it's slightly counterintuitive they'd want to seize assets right now. they looked like they were trying to get into the position of being the good guy, i

dallas fisher said it on maria's show on friday morning. at this point the deflationary issue, which st. louis fed wrote a report december 1st is the biggest concern. interest rate on 2 year treasury in germany is negative .05. the japanese 2-year is .05. melissa: todd is shaking his head. >> i came from wall street and our traders are scared to death what is taking place geopolitically. the threats with isis. subway imminent attacks we're hearing b that is really hitting. melissa: for those who don't know, iraq prime minister is saying on the sidelines of the u.n. meeting going on here in the u.s. right now, saying that there was an imminent attack. that they heard about. when asked by a reporter, has it been thwarted, the prime minister said no. >> right. melissa: this is really has a lot of people on edge. >> the they are worrying about the iraq prime minister is saying. >> charlie, i love what you're saying. >> here's the thing. i'm not saying it won't. thank god we have a great new york city police commissioner. we have the fbi here. think about it. this market is so on edge because of intere