. >>> still to come -- from taper talk to janet yellen, atlanta fed president dennis lockhart goes on the record with "squawk box." it's an interview you can't afford to miss. and it's only right here on "squawk box." as this. at bny mellon, our business is investments. managing them, moving them, making them work. we oversee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon.

we were down about 60 at the low of the session right after dennis lockhart spoke today. down 21 points right now. >> the deal is closing. enter continental exchange's acquisition of the nyse set to close tomorrow. up next, i.c.e. chairman jeff sprecher will lay out his views. first on cnbc interview. what did he mean recently when he said the markets are stacked against the little guy? don't miss that interview coming next. >> later -- is tesla considering recall of model s calls to prevent more battery fires from breaking out? we'll hear from the man himself, elon musk, coming up on the "closing bell." americans take care of business. they always have. they always will. that's why you take charge of your future. your retirement. ♪ ameriprise advisors can help you like they've helped millions of others. listening, planning, working one on one. to help you retire your way... with confidence. that's what ameriprise financial does. that's what they can do with you. ameriprise financial. more within reach. >>> welcome back on the floor with bob pisani. dennis lockhart taking

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dennis lockhart said it could be as early as next month.inneapolis fed president yesterday said he's frustrated all this talk and anticipation with rising rates now is counterintuitive for the economy. that it's hampering the fed's ability to do its job right now. >> right. >> do you agree? its impact on the housing market sneer. >> i don't think it's had a significant impact on the purchase money market. i mean, rates are still very low historically. >> historically low. >> housing is very attractive. if you look at what the median income can buy in terms of median price. it's -- the affordability index is very attractive. it did affect the refinance market and had a significant impact, but we were moving through the end of the refinance cycle anyway. so, i don't think it's had a big affect on economic growth. and you saw that in the gdp numbers in the third quarter where we had a 2.8% gdp growth, even though we had an increase in rates during the quarter. >> so, what's the plan as rates start going higher? i mean, how tough has it been to

. >>> casting a cloud over investors after atlanta fed president dennis lockhart says it's not out ofe central bank might pull back on qe next month. >>> and the russians aren't drinking. that according to carlsberg. shares fall, the danish brewing giant raising forecasts in key markets after missing expectations in the third quarter. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> right. we're just getting the latest icc ifo world economic survey out. they're saying the economy picked up in the first half of 2013. production primarily expanding more rapidly in the advanced economies while the pace of growth and emerging economies by contrast have barely picked up at all. but growing confidence on part of the companies in most countries suggest that the economic recovery will continue into the second half of years. joining us now is the author of the world economic survey, the international chamber of commerce john guy kareo and joining me in the studio is karen ward. welcome to you both. so there's a growing confidence. what's that based

so those are the news headlines from dennis lockhart that we just got. you can see not much effect, i think, in the market from the headlines. either the dow or the -- or bonds, but bonds were deeply affected this morning, as you know, guys. i want to show you one way of looking at the jobs numbers. here's the current number, 204. and then, look at the three-month average, which is 201,000. and then the six-month average. what you see there is far from declining, it's been accelerating. so all we thought about there being a slowdown in job growth, actually quite the opposite. it's actually accelerating, and if you look at the bar chart on this, what you see is the three-month average has been on the way up over the past several months. so put that in your investment pipe and smoke it, guys. >> i'm wondering, steve, what you make of the way the market initially reacted and the way it's reacting now to the jobs report? >> well, bonds have been pretty consistent. it looks like, what do you want to call it, el capitana, the cliff, the rise steady along the t

we are just now getting some comments from better reserved bank president dennis lockhart on the stateo peter barnes on the white house. did he say anything about the jobs report today? >> he did not, and that is critical. let me tell you what he did say about accommodation, easy money policy, quantitative easing. he sounds -- he is typically, you know, a centrist, a swing voter, so we want to make sure that we listen to what he says. here he says about the economy, next year's economic of comes will swing importantly on fiscal drag in consumer spending. even with better growth and all likelihood year end 2014 inflation will still be too low. anton the levels will still be well short of the goal. therefore, its third policy overall should remain very accommodative for quite some time. a mix of tools that we used to provide ongoing monetary stimulus may change, but any changes will not represent a fundamental shift of policy. it sounds like he is getting a little more down and may support continued qe, bond buying, the fall may be 5 billion a month to try to keep interest rates low for

we had a drop because dennis lockhart came out and said, tapering could start next month. put up the full screen. the market is hypersensitive to any talk of higher interest rates. there's the dow moving to upside. then they said it will hold. so it stort of came back. this is the forefront of the whole issue on the markets. reits, emerging markets, housing, telecoms, rate-sensitive, all down noticeably. emerging market stocks, these countries have been hit hard, even modest increases in the overall numbers here. just want to talk. back to you. >> thank you so much, bob. tesla ceo elon musk is speaking to andrew ross sorkin at the deal book conference in new york. let's listen to this. >> with that jacket on, you look like tony stark. we have a lot to get to about tesla, about entrepreneurism and everything. however, you are in the news for some reason you may not wish to be. >> right. >> which is that there have been now three fires in these tesla vehicles with the most recent one in the past week. and there are questions, lots of questions in the wall street community, a

dennis lockhart, one of the participants warning today and economic data could be unreliable becausevernment shutdown. so be aware of trading on it. does that optimism over the days jobs report, does that mean october? what do we trust your? we will break down the market reaction with our exit is a panel. stay tuned. ♪ you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ liz: surprisingly, markets are viewing the positive jobs report this morning as kamal well, positive. the market is moving higher and continuing to do so. very close if not at highs of the session right this minute. since the report came out it has been nothing but net up to the top. what is going on to make joining me now, wealth management adviser. was fired as high as -- adviser chief economist and market strategis

you've got three nonvoting% members talking today, dennis lockhart also joined by richard fischer, basically saying, again, that tapering is on the table for their december meeting, but you talk to the doves today going on the ore side of that -- the other side of that saying reducing the flow of purchases would be a drag on the economy, slow rate of economy towards the committee's goals. and all this talk about not putting tapering on the table saying, quote: the dialogue risks creating the perception that the committee is not following a goal-oriented approach to monetary policy. such a perception can create doubts and uncertainty about the criteria underlying committee decisions. and this, of course, liz, is all ahead of the big fed meeting between december 17th and 18th, one in which the fed chairman, ben bernanke, will be making comments, talking to reporters and answering questions afterwards. back to you. liz: okay. thank you. i look at that and say, wow, this is clearly stunning, the federal reserve world. and their just shaking their heads saying, okay, guys, this is the last thing

dallas federal reserve president richard fisher, atlanta federal reserve president dennis lockhart will bernanke will speak on tuesday. also, philadelphia fed president will talk nbc on thursday. liz: the number one thing to watch next week, weekly jobless claims 8:30 a.m. eastern. economists are expecting twins drop by six dozen to a seasonally adjusted 330,000 the history week of decline go. >> another record on the dow. >> putting out fires left and right this week. naturally another model lesson flames. before the zero company burns to the ground. that is our starting lineup tonight. even when they say it's not the man is always about "money". ♪ melissa: tesla could be headed for crash and burn naturally. for the third time in just six months the company's selector car caught fire doors in the landscape

the dow jones industrial average down today, dennis lockhart from the atlanta fed had given an interview about 11:30 where he came out and said a tapering could begin as early as next month. a lot of people weren't particularly to happy that. the markets moved to the downside. you have contrary opinions. the head of the minneapolis fed came out a short while ago and said tapering now would hinder the recovery so you're right, there's differences of opinion but it doesn't matter, the point is, interest rates are moving up. when the interest rate markets areas move up, the stock market gets under pressure. let me show you interest rate sensitive groups this month. the dow and s&p are down slightly on the month. look at this, reits, emerging marketses, housing stocks and telecomes are under pressure. emerging markets are a pressure, down for a week and a half. let me show you turkey, brazil, india, south africa. this is just this month, seven or eight trading sessions, that's what i mean. these interest rate sensitive groups are sort of the vanguard, the front of the concerns on higher inte

atlanta's federal reserve bank president dennis lockhart speaking out on today's better than expecteds report. lockhart calling the report, quote, encouraging but oncer we should not draw too many profound conclusions from one month's number. all they revised couple months too. we're not just talking about one month. anyway, lockhart goes on to say do not rule out a december taper but data between now and then will still have some noise. these comments coming from a q&a session after a speech in mississippi. the dow up one hundred points. adam: we talk about taper but not as if federal reserve will raise interest rates anytime soon. lori: monetary policy with dual mandates to control prices of full unemployment. full employment. so used to saying. got a lot of fed speak today. bernanke speaks later today. we'll bring you that. adam: you bring up the employment picture since we're speaking about the jobs and job report. stocks have a boost after being delayed by the government shut down. with data like this maybe we should close the government every other week? lori: beauty secrets ahe

our newsmaker of the morning, atlanta fed president dennis lockhart. plus, a call on commodities. sachs predicting steep losses for gold next year. andrew, what -- didn't goldman sachs have a buy on gold for a while? >> they did have a buy on gold, yes, sir. >> never mind. it's friday, november 22nd, 2013, and "squawk box" begins right now. ♪ higher and higher, straight up we'll climb ♪ ♪ getting higher and higher, leave it all behind ♪ >> good morning, everybody. happy friday and welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. and there is only one place to begin this morning's conversation. that is with the markets. the dow turning positive for the week yesterday, posting a triple-digit gain and closing above 16,000 for the first time. financials leading the way for the s&p as the index halted its longest running streak -- losing streak in two months. of course, this is three days that were down and i think gained back everything it had lost over the last three days just yesterday. as for that so-called fear gauge, the vix drop