i'm michelle caruso-cabrera.gin galactic reporting unspecified problem during testing of flight. they tweeted out that the flight of space ship two has experienced an in flight anomaly. the tweet said there would be more information forthcoming. the associated press reports the fire department is headed to a location and california highway patrol officer saying the agency is responding to a report of a crash in the area. this is a spaceship under development in the desert in the northeast of los angeles. normally two people are aboard though we don't know that to be the case on this particular flight. there is a disclaimer here. nbc universal has established a multi platform partnership to track the development of space ship two and televise the space flight. virgin galactic reporting an unspecified problem during a test flight of its space ship two tourism rocket and there are authorities headed to what is reported to be a crash site in the desert. >> thank you very much for the breaking news on what we know so

michelle caruso cabrera has more. >> the good employment data in the united states only highlighting the situation in europe, how bad it is. every data point, negative, suggesting the economy there is just getting worse. there is also disappointment that the european central bank has not done more to stimulate the economy. they wonder if it is not turning into japan. the consensus was that the country was not aggressive enough on monetary policies or cleaning up zombie banks, or not aggressive enough in doing structural reforms to the economy. all of it is needed, and politics is part of the equation, if they don't get it under control soon, there could be a lot of tests coming for that continent. for "nightly business report," michelle caruso-cabrera. >>> and more on the wave that is keeping the possibles up and running, mary thompson looks at where the jobs are next. >>> more recalls yet again for general motors, this time involving over half a million cars and sport utility vehicles, the latest recalls are for cadillac and saab suvs to fix a rear suspension problem that could caus

michelle caruso-cabrera at breaking news desk. news conference in the mojave desert. a like picture after a devastating setback for commercial space flight. so far no explanations on speculations what could have caused the crash. a jergen galactic space plane on a test flight crashed after what's being called an in-flight anomaly. an eyewitness told the a.p. the spaceship exploded in flight, his words, after a rocket ignition. the copilot is dead. the pilot ejected. has moderate to severe injuries. here's a picture this morning of the mothership known as the white knight. the sub orbital spacecraft called spaceship 2 also on top of it. that's how they work. you would actually lift the aircraft, the spacecraft into air with a larger carrier craft underneath. the accident comes just months before it was scheduled to carry space tourists beyond earth's atmosphere to sfeerns zero gravity. the project is a joint venture between sir richard branson and imin aed aerospace engineer burt rutan called scaled composites now owned by publicly traded north tlup grumened. they're f

michelle caruso-cabrera tracking those soaring yields there. the other "e" fueling fears, it is hard to kwaupt quantify, ands ebola. meg terrell is on capitol hill. the hearings under way on how to stop the virus. phil lebeau at the dallas-ft. worth airport on what airlines are doing, sue, to ease travel fears. >> we're watching apple this hour. of course, it's a big mover most of the time on these events. the tech giant kicking off its special event right now. new ipads expected. jon fortt with all the breaking news as the headlines cross. first to bob pisani with me on the floor of the nyse. the volatility was back big time. however, the tone of the market feels much better today. >> we did not have the big, sloppy selling that we saw at the open in the etfs. people were getting out yesterday. we were down this morning but it was very orderly. the s&p was down -- put it up -- it was down 27 points at one point. rather significant decline. now you can see the s&p has gone positive. it went briefly positive a few hours ago. but we're now in pos

witch to go back to michelle caruso-cabrera. get. >> usual official has confirmed the name of the man killed inside the canadian parliament. his make is michael zehaf-bibeau. he just turned 32 years old, born october 18th, 19th 82. once again the identity is michael zehaf-bibeau, 32 years old just a few days ago. that's all we know at this point. the other individual who died today was a canadian soldier, who we presume was shot, perhaps by this individual, allegedly, or we're still waiting to confirm whether or not the police in ottawa believe there was more than one shooter involved in today's incident. >> michelle caruso-cabrera, thank you. >>> is a big dip always a good type to -- that's next. >>> plus we've got an exclusive interview with the ceo of a biotech company. today alone, the details on the hepatit hepatitis-c. coming up on fast. uhhh. no, that can't happen. that's the thing, you don't know how long it has to last. everyone has retirement questions. so ameriprise created the exclusive.. confident retirement approac

our chief international correspondent michelle caruso cabrera. >> caterpillar shares jumping.unced analyst expectations raising its outlook for the year. >> this year has been great because we had steady sales, steady production try our lines and we are getting after lean manufacturing and shows our margins are just about everything and getting good cost reduction top line from our supplier, supply base, as well. operationally, it's what makes me feel good about this year and this quarter. >> operation is the word. let's bring in jpmorgan managing director who has been with us here. ann, operation is a keyword there begin what's going on in the global economy and mess that is still the mining sector. >> i think interestingly we've beaten up on caterpillar quarter after quarter after quarter. and their inability to execute on the manufacturing side. here we are in an environment where revenues are pretty flat and the operating performance is improving. kudos to them on this quarter. they did deliver a decent operating number. >> one of the stronger points was energy production,

for "nightly business report," i'm michelle caruso-cabrera. >>> and shares surging, where we begin tonight's market factor, the e commerce service provider will be led by serious capital group for $830 million, the group also has a 45 day period where they can go shop around for another buyer, kind of like getting engaged, saying you still want to date around. the stocks soared to 25.65. and bristol meyers performing well in the third quarter helping the company deliver for investors. the company topped forecasts because of an earlier surge of diabetes products. >>> following suit, shire trounced estimates, upped their earnings guidance for the year on their strong results. the ceo says this performance is especially notable in light of the collapse of shire's plan with advi. >> we we're distracted but continued to have very strong momentum for shire as an independent company. >> shares popping up to $49.49. >>> and chiquita brands calling off a planned merger, shareholders rejected the combination which would have resulted in the largest sales of bananas. this is the latest tax inversion de

i'm joe kernan along with david ross sorkin and michelle caruso-cabrera. very solid principles. among our headline this is hour, tesla unveiling a leasing policy for their new model. buyers have the option to return the car within three months if they are not satisfied. i saw a lot of people mad about what the government was mad about, the big governor snyder signing the law with dealerships. but then, i don't know, i thought of something else. people get mad when crony capitalists don't do their side. because tesl harks has gotten all kinds of help from the government, right? and i just think now they got to use the dealer network and are mad, but i don't understand. they have gotten all this help already, why do they think -- they are crony capitalists. >> you are saying they are got in bed with the government this time around. >> hmm. >> they are not like a purely economic free market company in the first place. none are? >> none are? >> and none of them create jobs. i was trying to make the hillary clinton -- >> you were. you are not dating hillary. >>

michelle caruso-cabrera next with the latest on the ground. we'll be right back.. to be this awesome. and you...rent from national. because only national lets you choose any car in the aisle... and go. and only national is ranked highest in car rental customer satisfaction by j.d. power. (aaron) purrrfect. (vo) meee-ow, business pro. meee-ow. go national. go like a pro. >>> welcome back. deadly shootings in canada's capital contributing the decline we saw in markets today. michelle caruso-cabrera with the details. >> as we heard from president obama, he called the chaos in canada tragic pledging support of canadian prime minister harper. harper will address his nation tonight hours after a gun battle erupted inside the country's parliament. just before 10:00 a.m., a soldier shot and killed at point-blank range at the country's war memorial and the gunman all dressed in black then ran to parliament center block and began shooting. at least 30 shots fired. this video courtesy of the globe and mail. a security guard was injured and the gunman was shot and killed. the

i'm andrew ross sorkin along with michelle caruso-cabrera who is here since becky has the day off.ountry singer aaron lewis made an error singing "the star spangled banner" before the game ♪ by the dawn's early light ♪ what so proudly we hail ♪ were so gallantly streaming >> we'll talk more sports stories of the morning. later we have david brigs joining us, but we'll talk about the week ahead for the markets. it's a packedge

michelle caruso-cabrera joins me live to tell us why the markets are reacting that way. >> there is today renewed investor hope about brazil and its economy because of the outcome of yesterday's election. you were talking about how it was down, but when you look at some of the most actively traded, they are all up more than 5% holding on to their gains even as the u.s. market falls. individual brazilian stocks climbed as much as 20%. second in election is considered the most investor friendly pro business candidate with a chance to win that brazil has seen in a very long time. he will face the current president in a runoff election on october 26. brazil analysts are saying this could be the brazil i don't know market's narendra modi moment and made a similar huge move when narendra modi became the leader of that country. on the phone right now, a man very familiar to wall street, an adviser to nevez. he also ran the central bank of brazil. thanks so much for joining us. >> happy to be here. >> so you are ann adviser to th candidate. if he becomes president, what will his first move be? >>

michelle caruso-cabrera is here with more on how they did it and whether it's worth the risk. >> we were think being this because of steve's presentation. here is venezuela, if you want to create inflation, it's easy. look at venezuela. their inflation rate is at an eye popping 65%. how do they manage to do this when the rest of the world is fighting falling prices? it's easy. two things, they print money, they deficit spend. let's show you the amount of money the central bank is supplying to the venezuelan economy, it just keeps rising steadily as the central bank prints more and more of their currency. currency is no different than anything else. supply increases, the price often decreases of that product. the central bank provides more money but that money has less and less value. the second chart, all of these are provided by the institute of international finance. this shows venezuelas deficit spending. it is bringing in more money on oil and taxes, but they still want to spend. they borrow the money again from their central bank which prints it up and gives it to them. deficit spen

chief international correspondent michelle caruso cabrera is all over the global markets today. of red on the europe. they close we get a bounce. >> we've seen that pattern a lot. and even though we do see two of the major averages in the united states in paz territory, it was a rough session all over the world. brazil is still open. bombay was lower by more than 1%. turkey and moscow. what's significant is that brazil is down today. even though it still up for the week. remember it had that huge pop on monday when the election results came out. and the pro business candidate is going to be in the runoff and you can see the huge move here. so the average is still actually quite positive for the week even though it is down for today. let's show you what is going on with europe. germany is now in officially in correction territory off by 12% from the highs earlier in the year. italy nearly 1%. france 1 and a half percent lower today. germany is really the epicenter of all the bad data where beam have said wow. even the strongest economy in europe is suffering. that's had a very ro

michelle caruso cabrera is also with us back at hq. but jeff, bob just showed had board of the financials. we heard from not only the ceo of goldman sachs but the president of blackstone. the fundamentals haven't changed, just the psychology they said. is that true? >> i think the fundamentals are changing a little bit. europe is on the cusp of its third recession in six years. maybe you could say that is more of the same since they haven't gotten that far away from it. but as the serious threat to global growth. the retail sales report was weaker and walmart had weaker things to say about the consumer as well. if we see global weakness begin to effect the u.s. that is not business as usual and we could see further downside. >> but the industrial production figures are very good to counter that. the philly fed has countered expectations. if they were to extend qe purchases beyond this month, what would that do for the market? and why would they be doing it? >> it might be a short-term shot in the arm. really we need nor action from the

joining us right now for more perspective on the troubles in europe is michelle caruso cabrera. michelle, pretty big problems. >> and here is what's amazing. remember the summer of 2011 and how scary that was for europe? the european know is now worse this summer than it was the summer of 2011. in 200121, the process were in the periphery do you think we're out of let field? >> pretikzs were 24er7 going to be bad, but he we doevent annoy how bad. you can see germany's gdp. last quarter was negative. if you get this current quarter to be negative, as well, then you have the technical reception definition. it wasn't that long ago when they were in one. so you have to choose with the german economy and add to all of this a lack of consensus about what to do. the german central bank disagrees with what morrow draghi just announced. if you think quantitative easing is coming -- >> can they stop it themselves, just the germans on this? >> it's the only economy over there. they are some sway, don't they? >> yes. but if you're suddenly looking at negative numbers, does that change your t

joining me on the floor, michelle caruso-cabrera, our chief international correspondent. josh alluded to iran. >> right. >> of course that's a big market for apple. >> it is. and still being gay in iran is still so taboo that former president ahmadinejad made headlines just at columbia just a few years ago. listen to this. >> translator: in iran, we don't have homosexuals like in your country. we don't have that in our country. >> so at first the audience laughed when he said that they don't have home sexuals because they couldn't believe it, and then you heard the booing at the end. iran is one of seven countries where you can be put to death by homosexual. there's a map that they provided that shows you the world showing you which countries we've put up in blue have laws prohibiting homosexuality. you'll notice we put russia in white. that's because it does not specifically prohibit being gay, but it does prohibit what they call gay propaganda. we posited the question, if a major ceo announces he's gay, could it hurt sales in countries with high levels of anti-gay senti

let's send it over to michele caruso-cabrera for a check on how europe is finishing up and reacting to brazil as much as anybody. >> yeah. certainly. the european markets actually opened higher across the board in the wake of the stress tests you mentioned but take a look at what's happened. the major averages have turned lower after another piece of weak economic data out of germany which showed german business confidence declined for the sixth month in a row and germany europe's largest economy. the weakest greece lower by 3%, italy lower by 2% and spain 1.5%. we're going to get to that because of the ecb and the bank stress tests. before that german data a positive reaction to the stress tests which showed none of the systemically important banks in europe failed. the banks that did fail were mostly in the weaker economies. ie italy and greece. the weakest today. they dominated the list. italy nine failures, in fact, 13 banks need to raise about $12 billion in capital. the oldest bank in the world is one of the most troubled. italy had the largest capital shortfall $2.7 billion. the

and in greece, our chief international correspondent michelle caruso cabrera is with us on set to talk the international angle to all this. michelle. >> joe, let's talk about europe, which has been suggestly. it's been tough in the united states if you're a u.s. investor. if you've been in europe, it's been even worse in the last month. here in the united states, we're down roughly 6%. germany is down 13%. france is down 13%. italy is down 15%. remember, the big fear over there is deflation. not just inflation, but deflation. will prices go up? i want to point out that italy now has twice, over two months, printed negatively on inflation year over year. so italy has -- on deflation. there's two take aways i want you to see that's happens in the last 24 hours when it comes to the european markets. the german yield yesterday acted just like the u.s. yield, right? it went down. people sought safety in the german ten-year. so the german bonds rallied and the ten-year yield came down sdpp and we're going to show that any second. after that, what we're going to show you is the italian ten-ye

. >>> joining us now, michelle caruso cabrera. are the markets calming down? >> yes, absolutely. compared to the united states over the last couple weeks. we have good earnings from ge and morgan stanley, those stocks are rising. so far, haven't been derailed by janet yellen, the head of the u.s. federal reserve. we're waiting to see comments, whether she would say anything about monetary policy that would help or hurt the markets. her speech is focused on income inequality. but nothing related to the markets. and the price of oil is rebounding just a little bit today. but not so much that drivers shouldn't expect over the coming weeks that their gasoline prices are going to get cheaper. >> all right, michelle caruso-cabrera, have a great weekend. so do we have any sushi fans? >> oh, is that a rhetorical question. >> really, come on. >> it was my dinner last night. >> do you not like sushi? >> if you're a sushi fab, you know the name nobu. lewis spent time with the world-reworld renowned chef. >> nobu is celebrating its 20th anniversary. the man behind the empire of 30 restaurant

i'm looking at what michelle caruso cabrera said. i'm thinking can we withstand that?rren buffett, what are you worried about that kind of stuff? go after good businesses. always if you are a billionaire, you can do it. a lot of our viewers are saying, i just lost $3,800 i didn't have. i think those people play a role. >> i did want to mention sears holdings. they came out with a press release talking about liquidity. announced their intent to conduct a rights offering. 47% of their 51% ownership of sears canada. it will provide $380 million u.s. dollars cash. they are talking about $1.5 billion they raised in various ways. whether it be the dividend from lan lands' end. over the long term, it does little to abate this massive free cash flow burn sears has been running the last few years. >> very accurate note. >> that was isi. >> i was looking yesterday and the decline in fannie mae and how much they own. >> they own a lot of fair home, a lot of preferred. ackman was one of the biggest holders. >> it was a herbalife. >> jetblue. raised to market perform. their argumen

get to it, michael crompton here from philadelphia trust company, welcome, michelle caruso-cabrera andjarian and with us, "fast money" trade brian kelly. welcome, one and all. brian, harass but this market before we get earnings or what? >> sure. listen, i have called the u.s. stock market the peter pan rally and by that i mean as long as everybody believes that everything is fine that it is, nothing changed from a week ago and frank lakers week ago, when we had the big selloff two weeks ago, nothing had changed two weeks before that the only difference was people started to notice that inflation ex-spec phrase falling. people started to notice that oil was falling. people started to notice that europe was a problem. all those thing reese international airport same. people don't seem to care about them. >> is this a fed-fueled turn around here or just a liquidity convenient back then? in other words, maybe things weren't as bad as it it looked on october 15th? >> i think things weren't as bad as they look and not as great as they look now. to me, the fed statement was inkretdably hawki

finance, chris whalen here from pearl bond rating agency and very up michelle -- michelle caruso-cabrerae is -- there -- also, more on today's markets, "fast money" trade steve grasso will join us when he is off the floor in just a couple of seconds. mike san tolly in a word, if you could, what did today's action tell us? >> exhale briefly. high yield did okay. the stuff that needed to bounce bounced. small cap energy up 4%. i think it's kind of a plausible trading low from yesterday and then this morning. but i don't think you really determine anything today except the selling pressure eased up maybe because of that fed comment. >> surprising, michelle, how much we came back after an ugly open in europe. >> things really started to improve. we got bad inflation data, like no inflation data out of europe. i think bottom line this week is going down as the week where the world figure it out, wow, the ecb just hasn't pulled it off, not sure they will be able to pull it off, there had to be a who whole readjustment. we have had massive sellings, markets off. have they priced in enough? here

bring in today's pap toll talk about it cnbc contributor carol roth here with our own michelle caruso-cabrera and zahree karabell and john najarian from "fast money" and what are lost important this afternoon? >> to me, microsoft, just a question of how much money amazon loses, 'cause they are gonna lose money. whether 70 cents or 55 cents, makes a difference to traders and amazon, but i think microsoft and did they take that cloud volume away from ibm, along with perhaps some other things away from ibm and if they did, well, that's gonna make microsoft push towards that 52-week high. >> around $45 today. thank you for a little bit of a preview there, guys, as we wait for the numbers, again go back to the strong day we had. do we start with the fact we are up almost 300 pints or fact we sold off 100 on ebola, facts or fictions? >> i think ebola, every time you get one of the headlines worry if we are going to see some kind of pandemic, hope a doctor who had gone to treat people and came back did some kind of self-quarantine, right? assuming, giving benefit of the doubt they have been in their

thank you, michelle caruso-cabrera. >>> let's take another look at stocks. you know investors have been on a stomach churning ride this month. check out the vix. it measures fear. since the start of october, it surged to close to 30. then it came back to earth. yesterday it shot back up again. it's been at incredibly suppressed levels for the last five or six years. the dow posting a double digit decline after the shooting michelle was just talked about. the terror fears north of the border at this point leads to questions about how quickly we will move on a single bad headline that comes out. joining us now to talk more about this is mario garive rks will li. we know you are a bottoms up guy. but with everything that's happened with the slides in stock last week. i have to imagine you start reassessing this saying they look better when they're cheaper down 6%. >> the dow was a thousand. it took 16 years to get past the thousand. we should be used to that volatility. and you've had these corrections like 1907, 1929, october of 1987. and so on. so you get thi

we're joined by a chief international correspondent michelle caruso cabrera. >> europe first, you brawldraghi is the immediate short-term story. he did talk about a more expansive version of quantitative easing. europe is very dick and it's getting sicker. bottom line, compared to the drama of 2011, the european economy is in worse shape now than it was back then. >> why does it seem like the headline is coming. why does it seem we're not paying as much attention? >> in summer of 2007, we are staring into the abyss and concerned about whether the ur roadway was going to fall apart. but now they've solved those issues by tapering over the overnight borrowing issues with all of the banks. the bottom line is, back then the trouble was in the periphery and now today the trouble was in the core, france and germany. and the department is only whether who is worse, is it italy or france, whether it's debt to gdp, etcetera, etcetera. here is the one-week performance. if we were going to show you a one-month, we would show you the a lot of them are getting into full correction territory. it's be

michelle caruso-cabrera said ask about this. venezuela debt. and puerto rico.ny of that stuff? >> so we're involved in puerto rico. we're not involved in venezuela right now. the reason we're involved in puerto rico is depending on the specific bonds, you can buy those bonds at a big discount. >> the reason you're not involved in venezuela? >> i look at it more of a binary bet, it's a political bet. so same thing in argentina. right? do you want to make political bets? and i think for us what we're trying to do is make credit bets. >> i would ask about a distress situation. it would be about the democrats this tuesday. because he's one of the -- you're like the original fob, as you know. friend of bill. you haven't seen him much because he is everywhere right now. he's the guy that people want to come into their area to try to help their chances. >> he's out there campaigning quite a bit right now. >> every place he's needed. >> i think so. >> he's needed in a lot of places, unfortunately. you're not flying him around at this point, are you? >> no, i'm not. >>

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michelle caruso-cabrera joins us with more on this. >> they're higher across the board.y are off highs at the equity markets. when it comes to the bond market in europe, we are seeing still the divergence i told you about yesterday. it's just the opposite moves. people are calmer. so they are selling germany, but they are buying italy, spain, portugal, greece. so that lock step we had seen before, everybody goes down together because they believe the ecb is going to take action. >> so the divergence is getting smushed a little. >> i'm saying the divergence still exists. just yesterday we saw people buying germany and selling italy and spain. now it's just the reverse today. right? so the risk on/risk off is definitely still in place. in the last 20 minutes, the head of the german bank has started speaking. if you think all the volatility of the last month of the german market has changed the german central bank's mind, absolutely not. he says there is no need for more stimulus in germany. that's directly at draghi who says countries with fiscal space ought to spend more

michelle ka caruso-cabrera said it best. we need to prevent them from going down. i defy anybody to go through the minutes of the last meeting or, excuse me, go through the statement of the last meeting or the press conference that the minutes released to today. boy, the dollar and the european markets not underscored and highlighted and the central case of the conversation which means that they were right, the fed finding anything not to norm normalize rates. >> we have waded through the weeds. let's make it meaningful to investors now. keith fitzgerald, are you going to -- were you buying yesterday's selloff or are you selling today's rally? what are you doing there? >> well, certainly is a conundrum. i think this is all about the fed, bill. never met a printing press they didn't like and a dove they didn't want to set free. i think the market likes that. good ceos are moving ahead. i think profits are still there. profits translate. i think we may have a little run higher after all this. one day does not a trend make so i'm cautious in here. >> jack, you agree?