fed vice chairman stanley fisher says the strong dollar is restraining inflation and u.s. exports delayed the central bank's first rate hike but he says the u.s. economy is riding it out fairly well and it may be appropriate to begin raising rates in december. >> well, william dudley also suggesting the u.s. economy can handle a rate hike next month. take a listen. >> it's possible that the conditions the committee has established could soon be satisfied. in particular, i'll be evaluating the incoming information to see if it confirms my expectation that growth will be sufficient to further tighten the u.s. labor market. after lift off commences i expect the pace of tightening will be quite gradual. >> well, joining us live from chicago is lindsey, the chief economist at stifle mixed income. what did you make of the fed speak yesterday? did we learn anything? >> unfortunately it's the sail message we have been hearing for quite sometime. fed officials are still very optimistic that conditions will warrant a rate increase by the end of the year but remember that's based on

corner, expected to be up 3 tenths, now, without possible rake hike in december, nicole mentioned stanley fisher will all be speaking, on thursday janet yellen will be speaking. >> nicole: this week will be a big week for consumer companies. 40 companies are due to report earnings, retailers reporting include macy's on wednesday and nordstroms, jc penny. jc penny expected a loss. >> cheryl: wall street bonuses are expect today fall this year because bonus are expected to drop 5-10% last year. private equity and m&a work. the biggest job of their bonus pay down 10-20%. bonuses is the the crux of what these guys do. >> nicole: that's right. u.s. targets soring claim to military health programs. led to higher effective tax rate and new york washington maglev train gets first federal funds. $28million for this project. a fraction of the overall cost. >> cheryl: nice to see that happening, that activity. coming up the weekend box office went old school. >> okay, snoopy, let's do this. are you serious. [laughter] >> cheryl: charlie brown makes a nice debut on the screen. wasn't enough to derail james

where the whole international aspect of the fed, that was the whole reasoning and dynamic white stanley fisher brought into the fed. tamednce things have slightly in terms of the exterior story, there is a great story that all the world is easing while the fed is moving in a different direction. you can cut it up as the fed does nothing. still and everybody else moving into deeper currency wars. jon: that is the central bank's story this morning. volkswagen front and center and the stocks getting hammered in the early part of the session. petrol engines and porsche. manus: it is another 2 billion euros thus far to fix it. like the periodic table -- did you do chemistry? jon: i used to go to that class. manus: so you have your co2 and nox. this is about carbon emissions and fuel efficiency. another batch of cars, and another 2 billion euros to fix that. where it becomes much more interesting is the expansion into the porsche family. that is where the admissions scandal is going. three liter engine equipment. muellere does matthias come from? of porsche until his accession to power during this d

however, vice chairman stanley fisher has remained fairly dovish saying raising rates is not a commitment. >> and we have a 50/50 call on a december lift off. >> let's get a preview of the jobs report. joining us from charlotte, north carolina, john, thank you for getting up for us. always a pleasure. we're expecting 183,000 is a call on the markets for october but for the last three months it's been disappointing. we've only seen 167,000 jobs. >> i think that's key. that number has continued to move down. average hourly earnings numbers continue to drift upwards and i they combination is going to dictate that it's the data and not the date that dictates a fed move in december. >> wage growth is still benign as you know. also participation rate. i always have a hard time saying that so early. it's the lowest since 1977. >> yeah. there is a change in dynamics. labor force participation rates continue to decline on trend overall for both men and women and i think that's again saying that the labor force is actually pretty small. we look at job hirings and job quits, both of those numbers su

we have a number of fed speakers including stanley fisher and the head mistress herself. so are their comments going to be consistent with what the market is now starting to price in carolyn? and that is december lift off? how hawkish or otherwise are they going to stand? back to you now. >> thank you for that. let's get back to the ecb. mario draghi surprised the market this morning with the strongest hit yet that the central bank could expand it's asset purchase program at its december meeting. >> we will closely monitor the risk to price stability and assess the strength and persistent of the factors that is lowering the return to inflation to levels below but close to 2%. at our december monetary policy meeting we will reexamine the degree of monetary policy accommodation. if we were to conclude that our medium term price stability objective is at risk we would act by using all the instruments available within our mandate to ensure that an appropriate degree of monetary accommodation is maintained. consistent with our forward guidance, the asset purchase program is co

stanley fisher saying that the strong dollar is restraining inflation in u.s. exports and delayed the central bank's first rate hike. he also says that the u.s. economy is riding it out well and it might be appropriate to start raising rates in december. william dudley also suggested the u.s. economy could handle a rate hike in december. i'll be seeing if it confirms my expectation to further tighten the u.s. labor market. after lift off commences i expect the pace of tightening would be quite gradual. >> speaking earlier on squawk box, the oecd secretary general warned that it compromises the influence of central banks when it comes to economic growth. >> central bankers have been the heros of this story since the recession hit us in this major financial and economic crisis hit in 2008 but the problem is they have run out of room simply because they're at zero interest rates in practically all the major economies so it's really the time for the treasuries and ministers of trade and industries and innovation, for education and competition and rnd et cetera. the

let me just tell viewers a little bit about what we heard from stanley fisher as well. the fed vice chairman is saying that the central bank has done everything it can to prevent the market surprise when it finally raises rates. it was speaking in san francisco yesterday. saying that the fed has telegrafd it's intentions so well that other central bankers have started to get impatient about it now. >> you're looking at a live shot of brussels where eu home affairs ministers are discussing counter terrorism levels. francis's interior minister called for europe to unite and swiftly decide on antiterrorist measures. he added that external border controls must be improved to track and neutralize terrorists before they strike. meanwhile, powers are expected to sign a united nations security council resolution today declaring a common war against islamic state. >> he is the head of economic research. talk to me a little bit about the latest measures that we anticipate now with regards to what is going to be coming out of europe and whether or not it's going to make a differen

including janet yellen and the vice chair stanley fisher as well. dudly might be the one to watch because he's seen as an ally to yellen. so lots going on today. good to see you carolyn. good to see you both. >> yeah. >> the bump getting ever larger. rolls royce. those shares sinking. a profit warning. details on that coming up. good morning, everyone. you're watching worldwide exchange. every year, the amount of data your enterprise uses goes up. smart devices are up. cloud is up. analytics is up. seems like everything is up except your budget. introducing comcast business enterprise solutions. with a different kind of network that delivers the bandwidth you need without the high cost. because you can't build the business of tomorrow on the network of yesterday. because you can't build the business of tomorrow the markets change, at t. rowe price, our disciplined investment approach remains. we ask questions here. look for risks there. and search for opportunity everywhere. global markets may be uncertain. but you can feel confident in our investme

meanwhile, here at home fed vice chair stanley fisher said in san francisco that the fed has done, quoteerything it could to avoid a market surprise about a rate hike which many -- and this is why you see green on the screen right now -- many are taking to mean we will see a hike many december on interest rates, first one in nine years. we take you now to mali. a former al-qaeda affiliate has now claimed responsibility for today's deadly attack which the state department just said is now officially over. the group split with al-qaeda two years ago, it's demanding its fighters be freed from mali's prisons and for attacks to stop. its members carried out this attack. take a look on your screen at the exact be moment -- those are hostages being led out of the radisson hotel. up to 170 people were held hostage before the attack came to a bloody end. fox business senior washington correspondent peter barnes joins us now, and the breaking news is that dozens, apparently, of americans have survived this. that's great news, peter. >> that's right, liz. at least the hostages included at least a d

moments ago, breaking news, federal reserve vice chairman stanley fisher in a speech on exchange rateson, laying more groundwork for a fed rate hike. he does not specify when, though. we're going to have more on that next. don't go away. at ally bank no branches equals great rates. it's a fact. kind of like playing the boss equals the boss wins. wow! with toothpaste or plain water.an their dentures and even though their dentures look clean, in reality they're not. if a denture were to be put under a microscope, we can see all the bacteria that still exists on the denture, and that bacteria multiplies very rapidly. that's why dentists recommend cleaning with polident everyday. polident's unique micro clean formula works in just 3 minutes, killing 99.99% of odor causing bacteria. for a cleaner, fresher, brighter denture every day. perfect driving record. >>perfect. no tickets. no accidents... >>that is until one of you clips a food truck, ruining your perfect record. >>yup... now, you would think your insurance company would cut you some slack, right? >>no. your insurance rates go throug

speaking late yesterday, stanley fisher suggested u.s. inflation should rebound next year.his could be a sign the fed is less willing to let low inflation delay tightening. also loan tee po is postponing it's ipo citing market conditions. it was expected to price that offering up 30 million shares last night. at the top of the price range it would have been valued at $2.6 billion. and milan won't win it's hostile bid for perrigo. we should get news on that while squawk is on the air around 8:00 this morning. >> other stocks on the move today, you might want to watch, implied materials posting quarterly results in line with estimates and offering a solid outlook gain a boost from companies making smartphone and memory chips and shares trading higher a little bit. almost 3% after hours. we'll talk to an analyst in a moment but shares are under pressure. earnings and revenue are both above consensus but the network equipment maker forecasting current quarter revenue and profits below estimates citing a slow down in order growth and this was a leading technology indicator many

as for the united states central bank, the federal reserve vice chairman stanley fisher says that the fomc has done everything it can to telegraph an interest rate hike. if that one enough for you he's telling you listen up people these are the hints. so much so that he says that the other central bankers around the world are getting impatient. >> in the relatively near future, probably some major central banks will begin gradually moving away from near zero interest rates. we have done everything we can to avoid surprising the markets and governments when we move. >> speaking to a conference in san francisco, he did note that no decision on a fed rate raise has been made. the next fomc announcement is scheduled for december 16th but we have continued to hear this drum beat from every one of the federal reserve fomc members that we talked to this week. now to the markets themselves, new numbers today show that investors pull $2.2 billion from us. stock funds just in the last week. this marks the second week in a row of outflows. >> at least we didn't do that. >> emphasizes negative de

stanley fisher, the vice chair. william dudley. >> wait to see if any these companies come back again. >> see you later. harry connick jr., and members of the armed forces ringing the bell to honor our veterans on veterans day. 30 alumni from west point doing the same thing. here's hour number two with kelly evans. >>> thank you, bill. welcome to "the closing bell," everybody. i'm kelly evans. here's how we're finishing the day on wall street. the dow going out with a decline of 57 points. just holding on to 17,700, about a third of 1%. same declines across all major averages. the s&p giving up six points. the nasdaq giving up 17. let's get right to it. let's begin with these markets. stocks looking for direction. >> they are really just low energy. usual suspects up. facebook, amazon, alphabet, plus the mega caps like ge. below the surface, lots of damage. >> carol? >> i was actually surprised that the market held up pretty well given what was going on. and with what you might be able to make out of the consumer gi

speakers today, including chair yellen as you've seen, more importantly this evening, vice chair stanley fisherl the highlights as they come through and what you should expect. >>> kohl's is surging today. cost cuts enabling the department store to beat on earnings and report a 1% gain in luke for like sales after recent declines. much of the retail industry is clearly haunt eed by that warni from macy's which lost one-fifth of market cap in one week. oliver chan, good morning to you. did kohl's cheer you up this morning? >> it did a little bit. the retail environment is very cautious but kohl's printed a solid comp at plus 1. also kohl's has an attractive product portfolio. it's focused on active, active wear, footwear performed well. this was very encouraging. the plus one comp especially given yesterday's macy's negative 3.9. >> let's come on to that. what's the advice on kohl's? what's the price target? obviously a company in transition? >> we have a market perform rating. we do believe that some of this momentum in the stock performance is due to short covering. short interest as a percent

. >> maybe stanley fisher speaks in a little while, to be the guy who made it expolilicit.ow much more do you think that might affect markets and how they interpret his remarks? >> i think it's important. there's a time where the fed gets to go out and speak its mind. there's a time when they begin to coalesce around the chair. they may be doing that on this idea of a december rate hike. i think that bill has, as you said, been a little more on the dovish side. but certainly not far to the dovish side. i think him moving back to the center saying, you know what? a quarter point hike would not be that far from where he's spoken already. >> one time janet yellen. you got that. two times with bill dudley, that's a coincidence. >> we're going to be glued to our tvs watching fisher. i know kelly evans will. >> always, always. >> with the popcorn. >> steve, thank you. >> we have 37 minutes left in the trading session here. lackluster trading compared to the last couple of days but very interesting trends among individual stocks as the dow is down 51 points right now. >> a top med

federal reserve vice-chairman stanley fisher will become the third and highest ranking official to signaling rate hike today fisher says in a speech he is going to deliver this after noon in san francisco, quote, in the relatively near future probably some major central banks will begin gradually moving away from near zero interest rates. i would point to the plural there on central banks of not only the fed but some other banks that he is suggesting out there. he goes on to say, quote, we have done everything we can to avoid surprising the markets and governments when we move. he says the question is, and he is speaking to a conference on asia, the question of whether asia is prepared for the move off of zero by other central banks. he points out that emerging markets central bankers have been telling the fed, quote, to just do it. he says asian weakness could mean a prolonged decline in the growth rates for commodity demand and the commodity prices could remain low for quite some time because of this. he singles oat copper and steel saying the impact of china weakness on oil demand is l

before congress we have bill dudley speaking to reporters at a press briefing here, and we have stanley fisheradian embassy speaking same day caused a lot of confusion before meeting in september, saying different things giving spins on economy i think going to try very hard this time around, to -- sing from same hymnal. >> did janet school them. >> i think three got together said we have to be a little bit clearer. >> what can they say -- that is clear actions are clearest thing you can figure out. right they have not raised interest rates refused to do so -- >> even by a quarter of a point what does that fell. >> you main thing. >> the economy is with a he can. >> they have to remain data dependent if they sing that song say that on wednesday again, gdp miss three big jobs numbers that have been revised to the downside most previous three, if this is another bad jobs' report i think again, it is all but said and done. >> best employment number three months, supposed to be certainly better than month before the month before you had 142000 jobs now 185,000. >> if we can show this simply sign c

after yesterday's market moving fomc minutes we'll hear from stanley fisher today. here on squawk box we'll hear from loretta mester. she's the cleveland fed president and she will be joining us at 8:30 eastern time. >> the bank of japan holding it's monetary policy steady. this despite data that showed the economy there slipped into recession. also the nikkei closing at a three month high today. square pricing it's ipo at $9 a share. it's not great news because it's below the range of 11 to $13 and well short of the stock in the private funding round. giving them a market cap of about $2.9 billion. that's half of the private market valuation just a year ago and could have a huge impact on other private market valuations which of course public funds also hold so there will be a lot of discussion and debate about that. now on to match group, parent company of the dating services including tinder and okay cupid raising it's ipo. pricing it at $12 a share. match group owned by barry diller and kayla will join us in about 20 minutes. greg blatt will join us first on cnb

new york fed president scheduled for a news briefing on looking beyond the macro economy, and stanley fisheronomists club. "squawk box" will be right back. >>> you're watching "squawk box" on cnbc, first in business worldwide. well, right now you can get 15 gigs for the price of 10. that's 5 extra gigs for the same price. so five more gigs for the same price? yea, allow me to demonstrate. you like that pretzel? yea. 50% more data for the same price. i like this metaphor. oh, it's even better with funnel cakes. but very sticky. get 15 gigs for the price of 10. and now get $300 credit for every line you switch. now at at&t there are no medals won for earning a living. it's just what you do for family. but it's hard to build a future if you can't see past today. that's why walmart is investing in the most important part of our company - our people. because a raise in pay, raises us all. ♪ >>> let's look at stocks to watch this morning, michael kors earned $1.01, beating estimates by 12 cents, and same store sales fell 8.5%, but more than half of that was due to the strong dollar. real estate we

stanley fischer finishing up a speak in san francisco. cnbc's chief economics reporter steve liesman has the highlights. >> stan fisher became the third andking official to signal a possible rate hike coming. here is what he said moments ago in san francisco. >> in the relatively near future, probably some major central banks will begin gradually moving away from near zero interest rates. we have done everything we can to avoid surprising the markets and governments when we move. >> fischer went on to say interest rates near zero are not a steady state interest rate. the chance of rate hikes makes meetings exciting and interesting before there was no discussion of rate hikes. a couple of things about the effects of merging markets central banks have been telling the fed to "just do it." commodity prices could remain low for some time because of what he sees as prolonged weakness or lower growth rates out of asia. >> was he just being coy when he said some major central banks around the world are thinking about moving away from zero interest? wink-wink? >> he's not going to come right out and say the fed is going to do it. what it fed is t

stan fisher along with several other fed officials try to talk up the rate rise. i want to play that remark from stanley clear that the appreciation of the dollar and the accompanying foreign weakness has been a sizable shock, but the u.s. economy appears to be weathering those shocks reasonably well. notwithstanding the large effects on sectors -- certain sectors of the economy heavily exposed to international trade. monetary policy has played a key role in achieving these outcomes through deferring relative to what was expected a little over a year ago. betty: john, do you think we could see a big shock at all? if we see the dollar surged higher from here? ahn: i don't think that is real concern for the fed at the moment. they have a relative immunity to the dollar strengthening in terms of what it does to imported inflation because so much is denominated in dollars. they probably would want to say so, but they will be worried for the hike spilling over into disorderly price action in emerging action -- markets. another reason to get it over and done with and see what it does. if it doesn't unleash, w

fishers ons the court that become manifest in the first conference over brown. frankfurt,ues don't, vincent initial vote is something like four votes to strike down segregation. possibly.s stanley reed from kentucky. tom clark from texas. two, who seem undecided. frankfurter and jackson. they are in favor of judicial restraint and they do not like segregation. they are new deal democrats and they do not think the court should be stepping in. the initial vote is taken and it looks like segregation will win. all of a sudden, before the court can decide the case, he drops dead of a heart attack. on the way home from the funeral, he says to his colleagues, this is the first indication i have ever had that there is a god. court re-argues the case. attorney on the docket for our viewers, because there is a familiar name. john davis. who has been in three of our landmark cases. who was john davis and why was he at the home of so many important cases? >> he was the presidential candidate. unsuccessful presidential candidate. he turned one of the great appellate lawyers of his age. he had silver hair. you could call him a strict constructionist. he definitely said i do not believe in a