. >>> i'm kate rogers in queens, new york a on nightly business report tonight we tell you about the importance of aviation technicians and why the industry needs hundreds of thousands in the decades to come. >>> we've been telling you about the ongoing shortage of skilled workers facing both large and small businesses. the issue is also taking flight at the nation's aviation industry. which is struggling to find mechanics. kate rogers looks at what one high school in new york is doing to help close that gap. >>> this is not your typical high school shop class. at aviation high school in queens, new york, teachers train the industry's next generation of aviation maintenance technician like genesis sanity that. >> the high school offers students an opportunity to obtain a high school diploma as well as two fa. a certified licenses to enter directly into the workforce. >> never in a million years would i think i'd be working on a plane and also doing a regular curriculum volunteering doing so much and aviation high school opened the doors. >> the school's role is important as boeing es

kate rogers, cnbc business news. >>> tesla shares increased the short sellers said the model 3 is a provensaid many warnings around elon musk have been false alarms. there was a lawsuit filed against musk and tesla saying musk threatened to take the company private to burn some of the short sellers. >>> apple's ceo, tim cook, called for comprehensive u.s. federal privacy legislation. he urged the u.s. to follow the european union's league. elizabeth is in brussels this morning. i want to ask you what is the message from tim cook? >> the message from tim cook is we need to start adopting privacy laws, not just in the eu but in the u.s. as well. he specifically called out federal regulators in the u.s. saying it's time to have comprehensive privacy laws this is something that apple fully backs. you can hear what he said and there was applause after those remarks. >> we should celebrate the transformative work of the european institutions tasked with the successful implementation of the gdpr we also celebrate the new steps taken, not only here in europe, but around the world, in singapore, ja

great stuff you do >>> kate rogers has the other top money headlines. >> facebook has determined thatpammers were behind a recent data breach and not state-sponsored hackers. the "wall street journal" reports an internal investigation found the people behind the attack were facebook and instagram spammers posing as a digital marketing company. last week facebook said hackers stole data from 29 million accounts, that's far fewer than the 50 million it had initially reported >>> ebay is suing amazon claiming the retail giant tried to poach its sellers the suit alleges amazon messaged sellers to get them to sell on its site which ebay says violates its user agreement. third party sellers with key to amazon's growth. last year more than half of the items sold on amazon were from third parties. >>> and rob sands is stepping down from constellation brands he will become executive chairman in march. rob newlands will succeed him. sands ran constellation since 2007 during which it bought the u.s. rights to corona beer and just recently made a $4 billion bet on marijuana, investing in can thop

. >>> good morning, i'm kate rogers. here are today's top business headlines. wall street pointed toward a slightly slower open. the market fell yesterday after the minutes from last month's meeting showed that the central bank is still convinced it needs to keep raising rates. >>> there were disappointing earnings from ibm, and declining housing start. the nasdaq slipping two points. >>> facebook has tentatively and not state sponsored hackers. they found the people behind the attack were facebook and instagram spammers posing as a digital company. they taye hackers stole data from 29 million, fewer than the 50 million it initially reported. >>> and ebay is suing amazon, the suit alleges that it messaged sellers on its site. third-party sellers are key to amount zone's growth of last year more than half of the items listed were sold by third parties. >>> they're right across the street from us. >>> 4:05. up next. we're tracking or thursday forecast. >>> it's nice and cool right now. 54 degrees. we have a couple hangic low clouds. i'll talk about how warm some

kate rogers at the nasdaq tracking the tech wreck. seema mody at hq following the fallout from the slide in china and the rest of asia eamon javers in our nation's capital with the very latest on this possible meeting between president trump and china's president xi jinping let's go to bob pisani at the exchange to kick things off. bob. >> let's take a look at the s&p 500. i don't want to sound like pollyanna but they are actively attempting to buy the most beaten up sectors of the market. we're 25 -- 30 points off the lows that we had earlier this morning. i want to show you some etfs that are having very heavy volume these are badly beaten up sectors. semiconductors were down 4% at the open they went green briefly. banks down 2%, 3%. that went green. home builders, disaster in the last month or two. they also have gone green today. so take a look at the earnings situation. i know cat was a little bit of a disappointment, 3m an outright disappointment mcdonald's was fine here domestic comps 2.4%. we saw ut x-raysing their full-year f

. >> our kate rogers is joining us live >> reporter: he's set to begin to testify any moment now.o is seeking for documents related to his ouster >> he's feeling good this morning and here what else he had to say to us >> what's your message to shareholders >> same message we had for 34 years. >> reporter: what's your end goal here? did you want return to the company in a ceo position? >> i definitely want to be apart of the company and i am apart of the company. >> reporter: mr. schnatter commented on cnbc's advertisement campaign he had used a racial slur on a conference call back in may. he maintained he was not using that in its effect but he was quoting the word this is just one of two suits he's filed against the company the second suit he's suing the new ceo steve richie as well as the board of director claiming they're causing irreplaceable harm to the company. john schnatter is the only witness testifying today we'll get more updates >> thank you it never stops >> fourth quarter starting the way q 3 ended. that's futures up. intel, you got the deutsche lamb research >> ha

kate rogers is in queens, new york, with more. r that's right we're going to tell you about a growing shortage of aviation maintenance technicians and what companies like jetblue are dngoi to combat that problem coming up after the break on "power lunch. >>> with a record number of passengers taking to the skies, more aviation mechanics than ever are needed. the problem is, there's just not enough of them kate rogers is live in queens, new york, with that story. hi, kate >> reporter: hey, contessa that's right the industry's projected to need some 750,000 aviation maintenance technicians like howard behind me over the next two decades. that's as the current workforce ages out and the global need continues to grow. delta will need about 2,000 in the next decade alone. >> and throughout the industry, we had a lost decade of hiring that occurred in the 1990s through the early 2000s. as a result of that, as an industry as we've had consolidation and all the other things that happened, it's really increased an overall demand we have to

kate rogers. >>> after the break, rays of sunshine and despite this two-day rally the month of octoberas been pretty miserable. "power lunch" will be right back whooo! want to get a move on your next vacation? tripadvisor now lets you book over a hundred thousand tours, attractions, and experiences in destinations around the world! like new orleans! from cooking classes, to airboat tours, tripadvisor makes it easy to find and book amazing things to do. and you can cancel most bookings up to 24 hours in advance for a full refund. so your whole trip... will be smooth sailing! read reviews check hotel prices book things to do tripadvisor >>> heart, folks a market rally today, and we finished the month with a nice two-day rally. in that vain while much of the focus will be on the scary drops for a host of stocks this month, let's take a look at some of them amd down 42% nvidia 24% amazon almost bear market, down nearly 20% it was below there at one point this week. netflix down 17% ibm down 23% melissa? >> on the flip side though, there's been a lot of big names bucking that trend it's la

kate rogers will join us to talk to the chipotle ceo and josh lipton will join us to talk about appleday back to you. >> outstanding stuff coke, pfizer numbers hitting live on "squawk box. don't miss that at the top of the hour thanks to becky quick. >>> up next on "worldwide exchange," we're on volatility watch. stocks set for a higher open following yesterday's wild swing for the dow. how you can trade the turnaround we'll discuss that and as we head outlets check in on the top performing sectors tech is still king, just about followed by healthcare and now the boring utility sectors playing catch up in the last couple of months, up 3% year-to-date we're back on "worldwide exchange" in just a couple minutes. - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she out

and kate rogers joins us as well with a look at the impact on small businesses courtney, let's start >> thanks very much, melissa good to be here. amazon says the new raise does impact 250,000 full-time, part-time, and seasonal u.s. employees effective november 1st. employees in the uk, they're also getting a bump, but it's not quite as high. before today's announcement, the retailer's average minimum wage in the u.s. was $11 an hour, though many locations did pay more last year, amazon says its median annual wage was $28,446 now, the online retailer is phasing out the restricted stock program as part of this. the company says the net effect, though, is, quote, significantly more total compensation. it is not, however, detailing the impact to the bottom line. now, senator bernie sanders has been a vocal critic of amazon's pay disparity between its ceo and hourly employees today the senator giving amazon's ceo and founder jeff bezos and amazon credit for the move and jeff bezos tweets, "thank you @sensanders. we're excited about this and also hope others will join in. senior vice pres

kate rogers with the read on chipotle deirdre bo deirdre, amazon.kick it off with you. >> analysts looking at eps $2 on revenue. same-store sales projected to increase by 5% as with any restaurant player right now, analysts will be lookin delivery among the priorities set forth by ceo brian nichol who took over in march this year. the company expects delivery to be available in 2,000 locations by the end of this year. another thing to keep an eye out for is digital growth. q2, sale s 33% and accounted fo 10.3% of the company's total sales. testing pickup windows in some l locations to make it easier to order online or by app and pick unthe food witho up the food without leaving your car. tested out new items like bacon, continuing to innovate moenu offerings. nichols told us they won't stray far from the core ingredients but want to remind people why they love chipotle the stock one of the best performing names in the restaurant space this year, up 45%. >> all right, kate, thank you very much. from tacos to tech amazon earnings are on deck. deirdre

disappointing earnings out of europe as well morgan >> seema mody, thank you kate rogers has the day'snings, monitoring the mcdonald's conference call happening now. >> down day for the markets. mcdonald's gains of 5% one of the only restaurant companies in the green this after better than expected earnings and revenue seeing a big beat globally and international lead markets, thanks to modernization efforts that are on-going. the company is making substantial progress in efforts around the world, adding that the largest international markets are well positioned to sustain on-going growth. also acknowledged franchisees are taking on a lot at once, completing another 1,000 renovations, set to surpass 4,000 by end of the year, outfitted with that experience in the future here in the u.s. back to you. >> let's bring in dominic chu and momentum names which have yet to report. >> they have yet to report that's right we wanted to look at some stocks that are bucking the trend a little ones that are seeing a bid off inter day lows or levels we have seen to give an idea where momentum has been

kate rogers is there with more good morning, kate >> reporter: hi, joe good morning that's right johnn court today. the former ceo of the pizza chain is seeking documents relating to his ouster as chairman of the board of that company earlier this summer. this after it was revealed in a forbes article that he used a racial slur. he said he was quoting the word and media has mischaracterized his action he is the company's largest shareholder. schnatter's attorney said for almost three months the company has refused to give john documents in an effort to cover up what is really going on at the company. the company's refusal to provide the documents confirms whatever it is hiding has caused great harm to the company, its employees, franchise sefranchis shareholders to immediately distance themselves from mr. schnatter when the racial slur incident was revealed instead of conducting any investigation into what really occurred. papa john's has said that schnatter is trying to distract from his own words and actions by filing this lawsuit and a second lawsuit against the company's new ceo s

kate rogers is watching chipotle and do no the forget about the earnings trefrmg carter and gene standing by for instant reaction much more "fast money" on this much more "fast money" on this very tecky, can you offer low costs and award-winning wealth management with a satisfaction guarantee, like schwab? sorry. tecky can't do that. schwabbb! calling schwab. we don't have a satisfaction guarantee, but we do have tecky! i'm tecky. i ca... are you getting low costs and award-winning wealth management? if not, talk to schwab. warning, california. a handful of billionaires have spent over $70 million on campaigns to undermine our public schools. and electing a former wall street banker named marshall tuck to superintendent of public instruction is all a part of the billionaires' plan to take money away from neighborhood public schools and give it to their corporate charter schools. that's why tony thurmond is the only candidate endorsed by classroom teachers for superintendent of public instruction. because keeping our kids safe and improving our neighborhood public schools is always tony's

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

kate rogers tells us more with this month's edition of "help wanted."you. >> reporter: hey there good morning that's according to estimates from boeing. some 754,000 aviation maintenance technicians are going to be needed around the globe in the next two decades. aviation is doing its part to train the industry's next generation of workers. this isn't your typical four-year high school experience students like genesis santana will get a high school diploma but they also have the opportunity to work towards two faa certified licenses and enter directly into the workforce. >> i never thought that i could do all of this never in a million years would i think i'd be work og on a plane, high school curriculum, and volunteering, and so much more >> reporter: now, the high school partners with major partners like delta and jetblue. but getting into the high school is competitive they receive about 4,000 applications for every 500 seats in each class. the licenses they'll receive gives them opportunities for competitive salaries without necessarily having to ge

there's more and more industries >> small business optimism what you heard from kate rogers earlier is concern is still the quality of the labor. >> there's a sensitivity to the idea that into 2019 is at least a risk that the economy decelerates. whether it's true or not, that's what the market is kind of watchful of right now. and i think the idea is now we're at 3.25% on the 10-year. housing market has slowed down are we going to be slowing into this situation >> you know, we're going to talk to our guests now. one of them brings up the point good news is bad news again. if the we go to where it just moderates a little, wouldn't that be -- that would be goldilocks again. >> you could moderate, have the fed change its tune slightly and it's kind of backwards >> let's bring in the aforementioned -- thanks, michael. sarat sethi is a cnbc contributor. i was sort of channelling you, sar sarat. common sensewise, reading what you view is really the situation right now, we shouldn't be surprised. rates have gone up that causes people to recalibrate. so initially there's some churning around

back over to you >> kate rogers, thank you. >>> amazon ceo speaking at a wire conference. >> that's rightrprise guest here at this conference talked about the importance as he sees it of tech companies continuing to work with the u.s. department of defense, a controversial topic here take a listen. >> we are going to continue to support the dod. i think we should. you know, it doesn't make any sense to me. some times one of the jobs of a senior leadership team is to make the right decision even when it is unpopular if big tech companies are going to turn their back on u.s. department of defense this company will be in trouble >> now of course what's interesting there you think of other tech companies, google decided not to remove that controversial contract it was artificial intelligence after receiving backlash from some employees so jeff weighing in there on a broad controversial topic here back to you. >> thank you very much for that. we have got four minutes left until the bell up next we'll have the closing count down for you your company is constantly evolving. and the decisions you

mike is looking a how stocks are performing today kate rogers has the big movers let's get started with >> what did turn things around it was not big buying like the spider or the russell 2000 it was at the most beaten up sectors initially. at about 11:00 things started changing badly beaten up. it was a big thing i'll show you an example it was 23 and change the volume picked up as it approached break even around 12:00 or so. we know how beaten up the banks have been here they went positive we saw about 11:00 buying there. volume picked up notably the bank stocks started turning around it was the open at 45 or so. you can see it at 47 as we head towards 47 volume dramatically picked up around 11:00. home builders same situation here about 11:00 several of these, you see the move up as it went into positive territory. finally i think the thing that really put us over the top, 3m turned around. around noon it turned around people are watching it 3:00 a.m. which was the leader and kept going down throughout the day. we did turn around about 12:00 we passed the early morning lows some of t

contellation brands, kate rogers with the story. >> reporter: the owner of corona and a big player inesident -- new ceo. the current president will take over as ceo on march 1st rob sands will remain with the company as executive chairman. under sands' leadership over the past 11 years the stock is up nearly 1,000% and constellation brands has made a big bet in the marijuana space in cap by growth the stock is just fractionally lower on the news. >> that's surprising is it surprising rob sands has been, i mean, share herald returning the move into mexican beer importing corona and the bold move, the bold move into the marijuana industry. >> definitely sanctioned the strategy all the way around. i don't think it was one of the succession situations that people thought, you know, was getting close, though it seems like a handoff internally to the president is probably something that the street will want to see. >> down half a percent after hours, but we'll cover a bit of that initial dip. >>> canadian cannabis stocks falling despite that country's legalization of recreational mayor wan

and kate rogers is covering it from the commodity desk. >> oil is closing lower today. down around 3% today marked the first time wti had traded below $70 since septembe september 21 september 21st the stockpiles are inescrcreasib 6.5 million barrels. there is concern about the sa i saudis potentially using oil to retaliate to silence critics back over to you. >> thank you so much for that update on the oil market >>> canada is becoming the second and largest country to legalize the recreational use o. >> reporter: that's right. now we are about halfway through this momentous day one, the day that legalized marijuana for recreati recreational use it's happening in the country. it's been pretty smooth so far but there are some hiccups starting to be felt, particularly when it comes to supply however, the celebrations started midnight here. they've been continuing with crowds there was a large wake and bake event in toronto there's been long lineups throughout the country from quebec to manitoba to b.c. behind me, this is one of just about 100 retail stores that went live

roger or mary. they can visit in a jail >> here's kate snow with "bringing down bill cosby: andrea constand speaks." >> reporter: you may have seen her. but you've never heard her m speak.yo until tonight.ea >> andrea, you are now going to be known as the woman who took i down bill cosby. how do you feel about that?y. >> i never set out to -- to bring down anybody. and i haven't necessarily because i'm not alone. this is a collective consciousness and so i would rather say we brought down bill cosby, but i just had the shoes on. >> reporter: for thirteen years, through a civil suit and two criminal trials, the woman who confronted one of the country's most beloved entertainers, has remained silent, never speaking to the public about her case. now for the first time, andrea constand talks about bill cosby. >> for years and years and decades, he preyed upon young women. h >> reporter: about the assault. >> i was crying out inside, in e my throat, in my mind, for this to stop. and i couldn't do anything. >> reporter: and about her yt journey. >> why did you do this? >> for justice. >> reporter: we talk