michelle cabrera has more on why syria matters. >> reporter: stocks fell again as the second member of the administration made clear military intervention in syria is increasingly likely. secretary of defense chuck hagel today on an overseas trip. >> i think it's pretty clear that chemical weapons were use against people in syria. i think that the intelligence will conclude that it wasn't the rebels who used it, the deeper we get into this, it seems to me it's clear and clear that the government of syria was responsible. >> reporter: those words, the clearest signal yet perhaps the u.s. will fulfill the promise president obama made when he said the use of chemical weapons would be crossing a red line. at stake for the united states, crude and credibility. the price of oil rising steady in the face of tensions. >> six-month highs because of concerns what is going on. we're what we're closely watching because syria is not a big oil producer, is there violence spilling over to like iraq, opec's second biggest producer that tied that significantly to syria. >> reporter: gold went up hittin

. >> i'm michelle caruso-cabrera at the new york stock exchange in today for maria bartiromo. >> as we all know today a special day in washington. we've been watching the events there is your troun there surrounding the 50th anniversary of martin luther king i have a dream speech. we will be momentarily hearing a pealing of bills to mark that moment. after that president obama will be speaking to commemorate that moment. let's bring in john harwood in washington who has been following the day's moments. a poignant moment coming up with the nation's first african-american president. >> no question. we heard from bernice king, the daughter of martin luther king. she was born precisely five months before he delivered that speech. and it was a speech that has stood the test of time as one of the great pieces of rhetoric in american history. >> one of the measures we take now is how much progress has been made since the speech was made 50 years ago in terms of civil rights, job equality and so forth. >> in terms of political progress it's been substantial. we got an african-american in the

take it -- let's drill down exactly on those emerging markets and bring in michelle caruso-cabrera who has more detail. michelle? >> go ahead. hello. >> tossed beautifully to you. there's nothing more i could say, michelle, to set it up for you on the emerging market. >> wouldn't you love to see the indonesian charts right now? >> i've been waiting all morning for this. >> we're going to roll through a couple of emerging markets. this are almost frontier markets, some of them. you're going to see them sharply declining over the last couple days for fears of rising interest rates. this is bombay, for example. why on earth if the u.s. federal reserve, it's changing monetary policy with the united states, to overseas markets sell off? they're setting policy for us, not for them, right? the bottom line, tyler, i know you know this, when our interest rates rise, guess what, everybody else's has to as well because we're still considered the best credit risk in the world despite hemming and hawing about the deficit, et cetera, et cetera, still we're the best credit risk out there. >> though w

cnbc's chief international correspondent michelle cabrera is highlighting ways for americans to investl. >> reporter: there's a huge announcement from the president of mexico, meaning more production and investment possibilities for american oil companies. he announced it's a big deal for the oil industry, that for the first time in 75 years that country will allow private investment and foreign investment in its oil industry. up until now, and if it gets through congress -- that's a big if -- pimex controls the oil production, a state-run oil monopoly, incredibly inefficient, poorly run, in desperate need of cash, know-how, et cetera. production has declined 25% from its all-time high in mexico. they don't have the technology they need, nor the money. they need deep, deep reforms in the structure of the company, et cetera. that's what he announced today. it's going to be tough, because the oil industry in mexico is something that is very close to the mexican people. this video is from 1938. this is the mexican people demanding that the government nationalize 17 different oil companies

cnbc's chief international correspondent michelle cabrera -- sorry, bill. >> that's lert. got here for us, michelle? >> reporter: i'm going to talk why the emerging markets are getting hit so hard, even though we're talking about u.s. monetary policy. why are they connected? well, when u.s. interest rates start to rise, everybody else's interest rates start to rise. we're considered the best credit risk. so whatever we pay, everybody else pays more, because they have to pay a premium. as a result, we're seeing a big sell-off in the emerging markets. look at what's happened to india. very hard hit in the last two days. indonesia, et cetera, brazil as well. one of the reasons why is when interest rates start to rise, you get worried that an economy is going to slow down, right? we all talk about it here. you worry about it in foreign countries, as well. plus, if you're an investor and you've invested overseas, but suddenly get a higher interest rate in a more developed country, why would you take the risk in a less developed country? so that's part of why we see the sell-off.

announcing major reforms this hour with a big impact for american investors like you and michelle caruso-cabrera is here with the details. michelle? >> thank you very much, tyler. an event of big importance. for the first time in 75 years foreign companies and private companies will be able to invest in oil production and share in oil production in mexico. this is a huge deal for this country because they have been watching oil production decline. had a socialist revolution back in the '30s. they nationalized oil. took them from the american companies and british companies, created a company called pename. them in the streets sell operating the news back then and thought it was wonderful and when the oil companies demanded they be paid they handed in all of their stuff, chickens, cellos, silver, gold, anything they had in order to pay it back, but they are paying the price now, tyler and sue, because oil production has declined in that country and they are in trouble. if they get this reform through parliament, it's estimate that had they will, oil production should increase. u.s. and foreign oi

kernen and michelle caruso-cabrera, joining us while becky enjoys some time away. we'll start with the markets this morning. a lot to talk about. the dow is now on a six-day losing streak, stocks closing near session lows yesterday. investors tried to make sense of those fed minutes. stocks initially, though, fell following the release. they rebounded within half an hour, only to fall again. minutes from the last fomc meeting showed almost all the policymakers agreed that a change to the stimulus was not yet appropriate, but some hesitation remained. the yield on the ten-year treasury moved higher and you can look right there, we're now at 2.915. also look at u.s. equity futures this morning, see how things are setting themselves up after that roller coaster day. the dow with green arrows. would open up 11.5 points higher. the s&p 500 up a little over 2 points. let's talk about today's economic test for the market. we'll be getting weekly jobless claims seen rising by 10,000 to 330,000. also manufacturing pmi, the fhfa home price index, the leading economic indicat

i'm joe kernen with michelle caruso-cabrera.e're not in the city, unless you think ingle cliffs is a city. andrew ross sorkin is reporting live from the nasdaq market site in times square. that is a mouthful right there. just times square, all the stuff that that encompasses, a lot better place now, at least temporarily. we'll see what happens with all the moves against bloomberg yesterday. andrew is preparing for an interview with the man of the morning. you got to say, this guy, when it does hit the fan, at least by the next day, he is ready to talk to everyone about it, right? >> that's the good news. >> he will come out and hopefully be as transparent as possible. >> got him at 7:30, right? >> 7:30. we have a lot of questions, a lot of people actually tweeting in, if you have a question, tweet to us and hopefully we can put it to him. >> we'll talk more about it now and hang out there. and for me, all those trades and it is all, you know, with computers, you know how when you lose one of those little things you click on to g

. >> i'm michelle caruso-cabrera at the new york stock exchange in today for maria bartiromo. >> as wenow today a special day in washington. we've been watching the events there is your troun there surrounding the 50th anniversary of martin luther king i have a dream speech. we will be momentarily hearing a pealing of bills to mark that moment. after that president obama will be speaking to commemorate that moment. let's bring in john harwood in washington who has been following the day's moments. a poignant moment coming up with the nation's first african-american president. >> no

some of the lessons learned. >> yeah. >> hard won, but they were learned. >> michelle caruso-cabrera.eting, major debt have pushed one green company to the verge of bankruptcy. not too late though to turn it around. "the profit" marcus lemonis, will tell us how. >>> but first rick santelli talking earnings in the economy. >> we'll talk about earnings but more in the context of a car metaphor. i think good car metaphors are the answer to everything that might be a little complicated to. to hear the metaphor and hear what kyle has to say, you will have to tune in in about ten minutes. [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. >>> an all-new episode of "the profit" airs tonight with marcus lemonis trying to clean up a manufacturer of all-

i'm michelle caruso cabrera. larry is off tonight. attorney general air hoeric hol announcing his changes to the american justice system. steve handelsman has the story. >> reporter: this is about two things. number one, the u.s. federal prison system is unbelievably overcrowded. since minimum mandatory sentencing took effect in the early 8 s. we have 25% of the world's prisoners. but there's also a community problem, a personal problem, being locked up say many experts in this field for relatively minor offenses takes a toll on an individual, on a community, on family. today i spoke to marcia montgomery. she says two of her nephews went to jail for ten years for pot. >> it does a lot of damage. it broke their spirit. they act like nobody cares about them. >> reporter: holder in effect today agreed. >> too many americans go to too many prisons for far too long. today a vicious cycle of poverty, criminality and incarceration traps too many americans and weakens too many communities. >> so should we get rid of mandatory minimum sentenci

we welcome to you the second hour of the closing bill i'm bill griffeth along with michelle caruso-cabrera who is in for maria bartiromo. stocks snap that two day losing streak despite concerns about syria. >> the dow jones industrial average higher by 50 points. >> dow on course for its worst month in over a year bob pisani. any more? >> we were down 3% on the s&p 500. let's put up the dow jones industrial average. not today. not because we had any positive news we just didn't have much news. we didn't have a lot of headlines around syria. let's call it a relief rally. put up the full screen. did droop a little bit. lack of headlines for syria is what was lifting the stock market today overall. we've seen a gap between secretary of state's announcement a couple of days ago and actually action and today that worked to everybody's benefit. not clear if we're going to wait or the u.n. or go it alone. jobless claims are tomorrow. we need some good news on the economic front because we had lousy durable goods, pending home sales. we better get a decent number. below 330,000. fed paper has got

let's bring in michelle caruso-cabrera for perspective on this. how much of this is due to the fed and the fear of tapering? >> a lot of it is the fed. when u.s. interest rates go up, everybody else's interest rates have to go up as well. we're considered the best credit risk in the world. if you're foreign country "a" and pay 2% more than the u.s. does, if you climb 2%, you're going up 2% as well. >> this is playing havoc with a lot of currencies in emerging markets. >> absolutely. we've seen massive selloffs especially in the frontier markets. right? remember the emerging markets we know a lot of them have lareall emerged a lot. the mind nearindonesias of the india, in particular. as a result, there's fwrgrowing concerns about what's known in the emerging market world as a sudden stock. new vocabulary. learned about this in latin america. this is when suddenly people two on a strike. there's a dollar strike. now hedge funds -- >> there's a rupee strike right now. >> they will not invest in india, will not invest here. what do you do? the central

i'm michelle caruso cabrera in for larry kudlow.this half-hour, call it the government gone wild. wherever you look these days, seems like uncle sam is getting very involved in the free markets. the headline today, the effort to break up the u.s. airlines-american airlines merger. >>> also, look at this new facility for the university of oregon football team. are we sure we still want to call college football an amateur sport? we're going to take you inside the palace that bill knight built. that's a little later this hour. >>> president obama took questions about the failing implementation of the affordable care act last week in his press conference. did he really answer any questions? take a listen and decide. >> i want to ask you about two important dates that are coming up. october 1st, you've got to implement your health care law. you recently decided on your own to delay a key part of that. if you pick and choose what parts of the law to implement, couldn't your successor down the road pick and choose whether they'll implement

we also have michelle caruso-cabrera at the table in for becky quick.ake a look at the futures se how things are waking up for a monday or the week. the s&p is down off about 2 points. the nasdaq off about 2 points as well. let's talk about the morning head loins, amgen buying onyx pharmaceuticals. it ends a two-month option. it is the fifth largest deal in the biotech industry. there is a lot of implications of whether there will be other transactions like it. the government will be releasing durable gods, a 4% drop in orders. we will have the data and market reaction at 8:30 eastern time. >> new york state attorney generals filing a lawsuit against donald trump and his for profit investments. attorney general eric snierdman alleging they made false claims at the school, including trump hand pecked instructors. they say the skl operated without an educational license, misleading consumers into courses promising to teach techniques, donald tweeted, a light weight nys attorney general eric sneiderman is trying to extort me with a civil lawsuit. good bles

we turn to our international correspondent, michelle car russo cabrera. what can we expect from seyria? >> the first thing that goes out the window is the plan so anything can happen. syria does have an air defense system. they have believed to have shot down a turkish yet near the border a year ago. at least three times this year taking out missile stock piles destined for syria's ally, hezbollah. the thinking is certainly the u.s. can as well. syria does have the yakhont missile. israel is believed to have destroyed part of that stock pile but not all of it. this is a very dangerous shore to sea fired antique missile with a range of 185 miles. this is video of a test by singapore's navy a few months ago. you see the rocket being fired and it hits its target with deadly accuracy. they are highly regarded. so clearly that something u.s. ships would have to watch for if they are operating in the mediterranean as it is expected they are as we just heard from jim miklaszewski. >> no one knows what a u.s. attack would look like, many believe it would across c

they will pay a termination fee of $6.7 and michelle caruso-cabrera said she is sad. e stock symbol, lvb for ludwig von beethoven. >> she's a big supporter of symphony and opera, michelle. >> supporters of post-president mohamed morsi, protesters hit with tear gas and gunfire heard at the protest sites. two members of the security forces reported dead as long as many as 25 protesters. the clashes took place at two different sites. for more on the situation in egypt we're joined by yousef gamal el din. he is in cairo. good afternoon. >> reporter: good to see you, steve. it came perhaps a bit unexpected to many. remember, as soon as yesterday really we had a lot of officials denying that any date or time had been set for a forceful intervention, and then in the early hours of this morning they made their move into two key squares in the central part of cairo. now, in one case that operation ended swiftly, and they got control of the square which is about two miles out that direction from here. now, there was an exchange of gunfire, tear gas, and possibly more weapons as

cnbc's own national koerpt michelle ka russo cabrera is here. the conditionality of the red line had been met. yes, the use of chemical weapons for sure and they are convinced it was the regime who used it against his people. within hours nbc news reports that a strike -- military strike could happen as early as thursday and richard hagel joins us and tells us he's been speaking with rebels and they are desperate for some kind of action, a big action that they think or hope would destabilize the regime and shift the balance of power. within the last hour, jay carney came out and said, keep dreaming. regime change is not the mission here. the question is, what is the mission? what kind of strikes? how long will they go on for? what are you trying to achieve? it is just optics? if it's optics you raise questions about your credibility. the other issue we face is the price of crude. >> how much is about the u.s. credibility as to any stance against syria, they cross the red line. >> you'll listen to all of these people say we must take a stand agai

i'm andrew ross sorkin along with joe kernen and michelle caruso-cabrera.s. the first one being that amgen is buying cancer drug maker onyx pharmaceuticals for $125 per share. it's a $10.4 billion deal. and kudos go to tony coles of onyx, 330% gain for him since he became the ceo of that company. the acquisition ends a two-month-long auction of onyx. it is the fifth largest biotech deal in history. a lot more on this story from industry analyst barbara ryan at 6:30 eastern. >>> also, anadarko petroleum in a natural gas filled off the coast of mozambique for $2.6 billion. a subsidiary of india's oil and natural gas corporation is the buyer. and finally, tms spernt repo ss reportedly agreed to sell itself. tms provides procurement in other services to steel mills. "the wall street journal" saying the deal is scrawled at $17.50 in cash. it's a

joe kernen and michelle caruso-cabrera back at headquarters.shutdown of the nasdaq, trading in thousands of stocks, ground to a halt after a technological problem shut down trading. it is the latest disruption to the operations of the u.s. market. and now the s.e.c. chair, mary yo white, she's calling for a meeting of wall street leaders to help ensure the, quote, continuous and orderly functioning of securities markets. our newsmaker of the morning, nasdaq ceo bob greifeld will join us first here on cnbc at 7:30 eastern time. we have a lot to discuss from here with him and other issues. but before we do that, i'll send it back to joe and michelle for the other top stories. >> good morning, andrew. thank you. see how you like it down there. i think it is an effective use of -- your hair looks shorter with that backdrop, for some reason. >> i got a haircut yesterday. >> he got a haircut. it is not the -- okay. all right. i was just wondering. it is weird. >> he could sleep in. >> could sleep in, just roll out of bed. >> this was weird. the weird

i'm andrew ross sorkin with joe kernen and michelle caruso-cabrera, joining us while becky enjoys someart with the markets this morning. a lot to talk about. the dow is now on a six-day losing streak, stocks closing near session lows yesterday. investors tried to make sense of those fed minutes. stocks initially, though, fell following the release. they rebounded within half an hour, only to fall again. minutes from the last fomc meeting showed almost all the policymakers agreed that a change to the stimulus was not yet appropriate, but some hesitation remained. the yield on the ten-year treasury moved higher and you can look right there, we're now at 2.915. also look at u.s. equity futures this morning, see how things are setting themselves up after that roller coaster day. the dow with green arrows. would open up 11.5 points higher. the s&p 500 up a little over 2 points. let's talk about today's economic test for the market. we'll be getting weekly