j. powell. the market is ending fairly flat and the market is cautious going into powell. look at that. everybody getting flattened as we await for carney and then powell. we saw a built in the crude market that is having an effect with brent. 1% and nowding down we are down 1.5%. build than wegger were anticipating, but enough. we are waiting for the fed meeting to come up and waiting on the from saudi arabia issue of crude prices. what do u.s. markets look like? here's abigail doolittle. abigail: once again, we have the balls and the fire is out -- we have the bulls and the fire is out. is the longest winning streak since november. a bit of a reprieve in the selling action we saw. we do have weakness for the semi down .5%.stock, tech is strong on the day. let's look at some of the tech winners. apple up .9%. a big reprieve. marketshares in a bear -- those shares in a bear market. salesforce is up. they boosted their guidance. we have had lots of bearish action. could the three top performers build into something? futures, we see a sideways range between the bulls and the

j. powell chairman of the federal reserve. he spoke in new york city, gave a talk. the big fear with a lot of investors is the increase in interest rate. when you increase the interest rate, that will increase the interest rate for debt across the board. seems like j. powell is going to hike in december and then in 2019 maybe slow down on it. taper off. so that maybe makes debt not as expensive. investors are calling it potentially a santa rally. >> dana: i like that. sounds like a big party. >> just today. >> dana: christina, thank you. secretary of state mike pompeo and defense secretary jim mattis briefing senators on the on going war in yemen. some senators looking to pass a bill withdrawing support for the saudi backed forces. the cia reportedly said the murder was ordered by the crown prince. after the briefing pompeo was asked why he and not the cia director gina haspel, was there. >> i was asked to be here and here i am. >> we're very frustrated. normally you would be here briefing senators on an issue. why isn't the cia director here? >> i was asked to be h

as of today, i don't think we are fighting the fed much longer after today, i think that j powell is in the one and wait. good guy and today he may have given both the economy and the stock market a new lease on life provided that the president's g 20 does get more bellicose today was a win, a big fat w enjoy it matt, in oklahoma. >> caller: what's up, cramer, tiffany had one of its worst days in years. is this the beginning of a long fall or more like a one off. >> actually, i think l brands is not a one off. target was not that bad. tiffany is not that bad either, they need a weaker dollar. and this is part of the reason that jerome powell had to blink. i think there are better fish to fry including kohl's which i think is the best one. let's go to phil in -- oh, where my daughter is, oregon >> caller: hey, jim, it is an honor. even saying it was jimmy one and powell 0 >> that was nice that he said that i like that. >> caller: i know. it was surprising. >> it made me feel good. hey, listen, you know, i'm a kind man i am a good man. that is from apocalypse now. >> caller: great that

j. powell has said publicly in his speeches that these old fed model, more people working at low employment is bad, he doesn't buy it, he said that publicly, he said he doesn't know what the interest rate is, he said that publicly, and he said we don't know steady state inflation, why does it have to go above, so i think he and the president share important goals. that's what i think. but the president has an opinion about this. he is not pushing the fed. he is not trying to drive through their independence. he said that. he is not saying change, not making calls, this and that. he is not disrupting their independence. he has said that several times. and i believe that myself. he is just giving his opinion. >> since we're here at the watch, our colleague jamal khashoggi, killed in the saudi consulate. >> tragic, terrible. >> what should the economic ramifications be for the saudi royal family? >> oh, i don't know. by the way, again, a tragedy, absolute tragedy. terrible story. so as you know, the investigations are ongoing. and as you also know, the saudi royal family has actually changed t

j. powell says. what caused the october turned in equities? continue hiking nothing has changed for us. if he cares about that message, that could be a lump of coal in your stockings. perhaps it wasn't the result he wanted. -- e stocks vonnie: we saw the yield curve flattened a little bit. is that an initial reaction, cameron? cameron: i think the dynamic has remained in place, which is as the fed continues to tighten, the entire structure of the yield curve will continue to go higher, but it will continue to fund because every rate hike brings us one more closer to the end. typically, at the end of the cycle, the curve is inverted. i would be very surprised if we don't see a similar outcome this time around. probably in q2 of next year. vonnie: there seems to be consensus we will see some kind of bipartisan deal on infrastructure, but that is not guaranteed. cameron: i am very, very skeptical of that, especially a top-down, grand sweeping deal. vonnie: it would be good for everybody. cameron: but you know who it would be best for? the fellow

j. powell, powell is indicated here. with job numbers like this, how can you possibly not raise interest rates? that is 100% the right thing to do. >> yes, absolutely. powell is right, trump is wrong. if you've got joblessness as low as it is. wage growth going over 3%. the felt has absolutely no choice but to slowly and methodically raise interest rates to avoid overheating. if they were to not raise rates, they risk getting behind inflation, then we'd have, you know, a series of rapid rate increases that would kill the economy. powell right, trump wrong, surprise, surprise. >> just moments ago, said bloomberg is reporting that trump is looking for a trade deal to be penned with china and of course if the market starts to believe that, that's good news. and i'm now reading from reuters, u.s. official say report that trump is seeking a trade deal, not true. miller tayback says the odds we get an agreement with china in the near term are close to zero. however, p.t. barnum was right, that is a sucker born every minute. if

j. powell, either the statement or press conference afterwards in our opinion you'll be rallying back into that 2,800 to 2,900 zone where we have had our long time and our year-end target there. we still feel good about that. >> thanks for joining us >>> let's take a look at how we finished the day on wall street. the s&p down 1.8%. nasdaq 1.7 the russell down 1.8%. more still to come here on the closing bell first it is time for a c flrks bc news update with sue. >> hello everyone. here is what's happening at this hour it could be unsafe to eat any row main lettuce the cdc sending a broad alert in response to an outbreak of illnesses. 32 people in 11 states are reportedly sick. the cdc warning not to consume row plain lettuce in any form. >>> planning on going to the macy's thanksgiving day parade temperatures will be around the cold es. new york city kppexpected to ho in the mid-20s >>> speaking of thanksgiving, two lucky turkeys will not be served on the dinner table this thursday, peas and his friend carrot receiver add presidential pardon at the white house earlier today. >> i will be

j. powell, if he looked at the oil collapse, he would be able to say he is beginning to win the war againstl is collapsing, guys. it is collapsing. >> supply and demand. >> thank you for that. >> can you get a little deeper for me >> we are at 11 million barrels. a lot of people feel saudis are pumping in order to appease the president after the tragedy that happened -- >> with khashoggi? >> with the "washington post" reporter. >> khashoggi. >> getting more prominent americans to go back. >> they haven't stopped doing business with the saudis. nobody has. >> i'm just saying oil is in a ferocious bear market. if you look at a stock a trust, that stock is below where it was. that is extraordinary. >> it's incredible. >> you remember how bullish everybody was? >> falling into the 50s? >> i could make a case for the 40s here. >> really? >> i could. i'm not kidding. >> because you are going into the cold season with a bunch of supply >> i think -- because we are finally building enough pipe in the country. pipe is furious. to get the oil to market. that is what is happening. one after the other

j. powell says tomorrow, i've been thinking i do not want to send this economy don't you want to come n.'s trustworthy? it will come back to home depot. >> you mentioned closing stores. there's a list to make moves to get smaller in the last couple of days. kellogg's thinking of selling brands dea deaggio. >> macy's. >> macy's, wasn't that something? >> yes yes. >> is that -- is that from strength or is it defensive? >> great question. that's why -- for instance, we were all discussing before i came over here, use strength ge, bakery using a company i think the answer was, no, because the stock is at a level, it's hideous. >> right the message doesn't look great in terms of the timing of it although it is something conceivably that investors would want them to do in terms of flexibility in terms of the sale of 62% stake which they have for some of it, not all of it. >> a percent. >> but you asked about the lockup, which was july 2019 proposition. >> now it is. >> that was positive. >> it is positive. >> ge shares are up a bit. >> it should it should be. >> as a result of yet another way

federal reserve chairman j powell today, meanwhile -- have retreated., we are joined by a global head of -- thank you so much for staying around. commodities, how was china doing? >> i was in asia last week. we are at an instant time. what is going to happen in the talks between trump? that is one component of it. the second component is the dollar. what do we see with rates over the near-term? do we see a change in language? all of these from a macro point of view are going to have an impact on the near-term. the supply and demand looks good. we have spoken about the lack of investment into new supplies, keeping markets relatively tight. inventories are low and the economy continues to grow. francine: what you think of markets getting low? the impact a trade war has on commodity prices, was the dollar called because the fed hike is as much the market is pricing it? evy: i think the market is always pricing things. the information changes constantly. -- that information we comes out, and we see a new pass that comes forward, the market will price back a

j. powell is looking at is the slow down in what had been the hottest region of the country.ow capital intensive oil is. >> there were man camps. they don't know where to put everybody. >> i remember when i went to the balken which is really revitalized, people worked at mcdonald's were getting $26 an hour. that was barely enough to cover their living costs. the ramifications of the food chain will lead to a slow down in our country. naturalgas at 0. the pipeline companies, why are we not building more pipe? many people are trying to figure it out given the fact that we have -- >> when is the last time we looked at kinder morgan? >> they switched to a c-corp. >> it is on its butt like you wouldn't believe. i think that you are going to see the forecast to come out and start making a little bit easier. mplx is a good company. it's down today. that's a diverse financial company. the index is so bad and there are a lot of wealthy people who hide in them because they generate a lot of cash flow. it calls into question the strategy that those have been horrendous. >> it was $26. >

j. powell, the president's gone after the fed chairman for raising interest rates, this totally haven'td chairman. markets seem to like it. everything right now is rumors about trade talks. the latest is president trump is more open to making a deal and the market is excited about that. >> sara eisen, cnbc, thank you. so elise jordan, five days to go until the election. what are your final thoughts this morning? >> a lot is going to depend on trump's behavior, where he chooses to drop down over the next couple of days. but i'm thinking it looks like the dems maybe have a blue splash with the house, not a wave necessarily. the senate holds republican. >> donny deutsch, final thoughts this morning. >> other than that picture, end of 2016, the question was is hillary clinton a crook or not. this last ten days is, is donald trump a racist or not. i think we'll see a blue wave. i believe it like you, joe. i'm an optimist. i believe in our country. >> my gosh, you look at donald trump's own words, his own actions. i think that question actually answers itself. mike barnicle, final thoughts. f

after trump slammed powell in a "washington post" interview for boosting rating three times already this year, saying this time so far i'm not even a little bit happy with my select of j, i think that the fed is way off base, so, panel, question, is powell now caving to pressure from the president. >> i don't think he is, i think that jay powell has been reading economic tea leaves, and decided they were ahead of the game. i mean inflation is under control. less than 2%, that is their channel number. oil prices of plummeting. and the market volatile spooked him i think. i don't think they had to accelerate from here, i think they will raise rates in december, but signaling of more about 2019. >> it looks like caving, it smells like caving, but i am giving fed chair the benefit of the doubt this one of few issues you find president and say paul at times running happen in hand down the beach in slow motion. there is no hurry. >> i think an important thing to note, the market had a big disruption on october 3 change powell said we're far from neutral. you saw him backtrack that today, one reason i think he backtracked a lot of leading economic indicators pullback from th