did stanley fisher clarify the fed's stance now?, he certainly pointed us in the direction of yes the federal reserve does want to raise interest rates this year. they need the evidence, they need the data, they need backup to do that. these were prepared remarks. these are not just stanley fisher talking to roberters off the cuff. so it was a definitely well-thought-out speech. so you just heard the fed is close to its targets. why is that important? that's one of the prerec sits for being ready to raise rates. in this speech he says he expects consumer spending to continue labor markets to be strong and we'll see more business investment. business investment has been weak for three quarters in a row. jobs growth remarkably resilient and he said consumer prices are within hailing distance of the fed's 2% target. let's go pick up a chart. it's very simple. it's personal consumption expenditures. that's the core price index. that's what the fed is watching. so stanley fisher says it's within hailing distance of 2%. fair enough. but i

stanley fisher will be speaking to us about two hours from now.hat may provide clues on the timing of interest rate increases. gainingsee the european . the volatility index at 12.88. let's get straight to bloomberg first word news with sebastian selleck. sebastian: the brazilian president has testified. she spoke about her torture and imprisonment during israel's military dictatorship -- during brazil's military dictatorship. if twol be removed thirds of congress finds her guilty. apple is said to be facing a tax bill running into the billions of euros with an eu ruling as early as today. the european commission is expected to say ireland provide them with illegal aid. apple said it has nothing to add to previous statements rejecting previous statements. european competition commission is scheduled to hold a news conference at 11:00 u.k. time. will bring you that here on bloomberg. german foreign policy , the u.k. will have to pay into the eu's budget. the missing britons aspects for low-cost emissions after the exit from eu. >> if someone once b

but fed vice-chairman stanley fisher suggesting that the economy is closer to hitting the fed's targetike. to market watch gary, what's got some investors rattled here? the market, by the way, all over the place. we'll be up 60, down 20, up 10, down 50 up 10. but, gary, it feels to me they're getting us prepared, you know? because they've got to get wall street prepared and make sure that they know a 25-basis point hike is on its way. >> my goodness, a whopping half percent should kill the world. look, here's the problem. every time the fed opens their mouth, it changes the playing field, it confuses, and we're in a situation right now where i don't think they can do anything. you have central banks around the globe printing two to three trillion a year right now to keep the economy up, the markets up. if they try to do anything different, i've got to tell you. look out below, that's the way i see it. charles: although, gary, at some point it's unsustainable. i understand they can't just keep printing money out of air, but there are consequences that the central banks around the world

it had been hire earlier this morning but it is offered that after stanley fischer, vice chair hanley fisher saying that potentially growth will continue. -- vice chair stanley fischer. fed funds futures, we move see how it is impacting their. we are seeing a pop by a couple of percentage points. 26%, had been down by 24%. over to you. we are about 90 minutes from the european equities closed. here the markets have been fromted by the comments sally fisher -- stanley fischer. we are seeing the ftse 100 off why .6%. it had the worst week since the pre-brexit last week. the euro pretty much unchanged now. the sterling down against the dollar. the germany 10-year yield, down four basis points. if i take you to the stoxx 600 and how is great -- different industry groups are performing, .xporters benefiting we saw the dollar strengthened on fisher's comments. the gains in the stoxx 600 , it was a bit of a short-lived rally. market pretty much flat right now. why? commodity producers really weighing on the benchmark, producing a big downward told. we are down 2%. --producing a big downward pull. c

growth, stanley fisher howed in his exclusive cnbc interview dismissed gdp has a backward looking measure that the u.s. economy is reaching maximum employment. >> we want to be looking ahe we decision. not back. we're reasonably close to what is employment and inflation this year is higher than last year's. not up to 2%, but it's been growing. the big numbers are bet and we're getting some feedback, some degree of reenforcements from what's happening on a monthly basis. this year, market fisher said yes if the data cooperates. next week's august jobs report hike. cleveland fed president and voting -- also left the rate hike on the table, insisting the 3%. >> i think we'll have some strengthening, yes. i think the economy's on a good in inflation numbers are coming up slowly. lower targets still, but they're move ng ri direction. >> among the gathered fed officials, rate hikes were near, but also that rate hikes would be gradual. for "nightly business report", i'm steve liesman, jackson hole. >> more on the gross domestic product report steve just mentioned. overall, economic growth for th

stanley fisher said the employment market is almost at full strength and that rate increases will depend on the economy. add to that, consumer confidence in august hit its highest level for a little doubt creeping in. just a little. the dow jones fell to 18,454. the nasdaq gave back nine and . home prices continue to rise, but the growth slowed ever so slightly. the closely watches s&p core lodge kay schiller index showed home prices in june rose 1.5%. that's a pullback from may's gain. the biggest gains were in denver, seattle, portland, oregon. >> more lending helped banks add to their coffers in the second quarter. the fdic says u.s. banks earned $43.6 billion in if quarter up from 43 billion a year earlier. that's a rise nearly 1.5%. >>> and now that summer is draw tog a close, wall street will be looking for what's hot to come inb pisi takes a look at what's working and what's not in the ipo markete leave beg to change. >> on the surface, it's been a terrible year, only 59 ipos have priced. recent ipos have begun outperforming the markets. up 260% since its ipo. up 60%. those are te

i think stanley fisher might have complicated that. you saw gold pop, stocks go up and bond yields fall. >> so you say the market was looking toward an easing, you don't necessarily mean that's the next step? >> no. i mean that would be however much they tighten would be relatively modest and the next move they're contemplating is how to deal with a recession if and when it comes. but the next big move is easing, the next small move may be tightenitigh. >> wow, that's wait ou on the chess board. >> yeah, i'll go with what ron said. tightening the potential for easing. and interestingly enough in terms of prior qes, you know, the long bond has basically gone up in yield based upon inflationary expectations. so i think once observers read the speech that they figured out the potential for the fed joining the ecb, for the fed joining the boj in this what i consider rather desperate struggle to purchase assets to support the real economy. and ultimately the hope is, or the fear is in terms of the bond market that that creates some inflatio

stanley fisher this weekend set he expected growth to pick up some interpreted the upbeat assessment might mean an interest rate hike could be coming sometimes later this year. the central bank meets next month. >>> investor ares are putting more money into stock funds. mafrl lynch shows inflowing into equity funds are at the highest level this year, but investors continue to favor passive or index investments. mike san tolli explains why and what it might say about market sent >> investors are trying to beat the stock market. a long-running rush of money has accelerated this year. the so-called passive funds simply seek to map the overall market perform xwrans. more than $900 billion flowed in, including exchange-traded ve on the losing end, actively managed stock funds, which a manager trying to pi stock to outperform an index. these funds have shift more than 200 billion this year. the virtues of index funds are well known. they deliver brought market exposure. their appeal has grown in part as investors focus more on just how hard it is to it -- now, of course, indexing also beco

yesterday, the vice chairman stanley fisher said they are close to a rate hike this year is still on the table. >>> for the week, the dow lost nearly 26 points. the s&p pretty much finished where it started. the nasdaq gained four points. >>> lower air fares between the united states and mexico could be coming. most restrictions limiting the number of airlines from each country that could fly a particular route were lifted yesterday. the border this year. >>> facebook ceo mark zuckerberg sole about 95,000 worth of stocks to fund the family charity. he sold them in december. he promised to give 99% away of his wealth but limit his donation to $1 billion per year the next three years. re at the box office, the 100 dollar remake of ben hur was a bust. over 11 million dollars in its debut weekend. "suicide squad" held the top spot for the third straight week. the animated comedy "sausage party" was second and "war dogs" came in third. >>> this is something to chai on. someone paid 1,390 for one of steph curry's mouth guards. it was sold during an online sports memorabilia auction it and,

the case for an increase has strengthened in recent months and her second in command vice chair stanley fisher said it's fed could raise rates twice this year. amazon experimenting with a 30 hour workweek as part of the pilot program a few dozen tech myees will work monday through thursday and get 75% of the pay and the same benefits as full- time workers. amazon says it created the program because one size does not fit all when it comes to work schedules. and starwood hotels is showing off the results of the top secret project jetson activated hotel rooms guests at the aloft hotel in boston and santa clara will be able to control room temp and lighting by talkel to siri. each room comes with a ipad with full run apps. >> i would like a hotel to control the temperature and lighting manually even. >> i would love it if it could work in house. >> yeah. >> siri clean the floor. done. >> jill can we work on that jill? >> reporteyo listening and you have a lot on your wish lists this morning but i like it. >> we are a little demanding. thank you jill appreciate it. >> maybe you are onto something.

yesterday the bank's vice chairman stanley fisher said the u.s. economy is close to job and inflation targets--- which means a rate hike this year is still on the table.// and some promising news e those automated, pre-recorded telephone calls. more than 30 technology companies - including at&t, verizon and comcast- are joining forces with the government to form a 'robocall strike force.' the group plans to come up with new tools and techniques to block unwanted calls.// brian and michelle? ((brian loftus)) >> and jill -- we hear tomorrow could be a good day for cheap flights. explain! a: if you're looking to book your next trip--- tomorrow could be the day to do cheap flight day. when summer's more expensive fares start to fall as demand goes down. experts say ticket prices could drop by about 10 to 20 percent.// /// demetria obilor >>> tammy says heading home, there is a right-turn only green arrow, but opposite traffic comes barreling through cutting us off, nearly hitting pedestrians. vegas to see if there were any issues with the signal head.

then, her second in commands, by stanley fisher, told possible it could raise rates twice this year. all of this very interesting to investors. brooke, jim? >> looking in the crystal ball. more companies are experimenting we understand with flexible schedules for workers, now, i hear, amazon is getting in on the act? >> reporter: yes. amazon is experimenting with a 30-hour work week, as part of the pilot program, few dozen tech employees will work monday through thursday, they'll get 75% of the pay that full-time workers earn, and they'll get the same benefits, amazon says it created the program because one size does not fit all when it comes to work schedules. monday through thursday. it is kind of perfect, right? >> well, i am wondering, can we do the morning newscast in the afternoon? that would be very -- >> i need to talk to your boss about that, jim. >> we should tape five shows on monday evening. >> good, go out for cocktails after, jill, you can join us. >> thanks a lot, jill. well, coming up after the break, we're continuing, we'll get another check on weather and traffic. >

then, her second in command, advice chair stanley fisher, told cnbc raise interest rate possibly twice this year. in time for labor day, drivers will finds the highest gas prices in more than a month. triple a does not expect though that prevent anyone taking road trip over the long weekends, prices still lower than last year at this time. and star wood hotels showing off the result of its top secret project, just an experiment, and it includes voice activated hotel rooms. guesses at star woods a loft hotels in boston in santa clara will be able to control room temp and lighting. simply by talking to apple's su. i, each room comes with ipad running custom app. brooke, jim? >> i talk to myself in rooms all the time. >> okay, so that's, you know, jill? >> well, you're halfway there, jim. >> thanks, jill. >> all right, experts will be on hand tonight when the horsham township council and state rep host panel discussion on water quality. in montgomery and bucks counties more than dozen public wells and 140 private drinking water wells have been shutdown due to contamination, believed to be

yesterday, the banks vice chairman stanley fisher said the u.s. economy is close to job and enflags targets and that means rate hike this year is still on the table. if you are looking to book a trip tomorrow could be the day to do it. flight day. it's when summer more he can pensive fares fall as demand goes down. ticket price cos drop 10 to 20%. ben hur remake was a flop and costing 100 million dollars to make and brought in 11 million dollars this weekend. in 5th place the movie was coproduced by paramount and mgn and movie theaters in general are going high texas a way to get people off their couch in the door. 4dx uses motion and sense and water to -- scents and watter to bring a movie to life. regal will expand the number of movies with 4dx after a successful test run in new york and l.a. >> see you next hour. >>> we have a lot of weather out there this morning. >> oh man. >> downpour is wild. >> it was wild overnight barry. so many people sleeping that's the most dangerous part of the storm is people doesn't know it it's unusual and very ra

yesterday the banks advice chairman stanley fisher said the us economy is close to job and inflation targets, that means a rate hike this year is still very much on the table, janet yellen will speak on friday, jim, jan? >> jill, we understand tomorrow could be a day for cheap flight. could you police explain that? because i'm writing the notes down right now. >> reporter: all right, if you are looking to book your next trip, tomorrow could be the day to do it. august 23rd is considered cheap flight day. it is when summer's more expensive fares start to fall, with demand going down, experts say ticket prices could drop by about ten to 20%. jan, jim? >> always got to plan ahead. >> yes, which you will then pay in the luggage fees. >> that's why you pack smarter >> thanks, jill, we'll check in with you a little later. coming up: almost 400 shelter animals have arrived in our area and looking for new families. >> and mail aid usa broad the animals to marlton, rescuing from a shelter where they may be euthanized. vet gave them all clean bills of health. they'll be distributed to several

i thought it was interesting that stanley fisher today said the u.s. will never consider negative spres rates. >> i think people thought that's where we were going. >> so, let's assume rate hike in september. taupe door for december. do you continue to buy financial sns zpl yes. i continue today. >> don't sell dividend yielders unless they're ewe ewe till theties and tell kohns. i think the chip stocks continue to move up. intel. those kind of names because of the entire time, they've not only been yielders, but they have low valuation levels and they've got growth. when you have that combination, you can continue to go higher. >> i think you then have to follow the rest of the rotation. and sure, tech will continue to work. but it is a place where rotation is is what is absolutely happening here. look at the rails. look at some of the industrial names, the airlines. if the world is that much better, the fed is comfortable. after that, these are things you need to own. >> you've opinion following that sort of playbook. cyclicals and growth. >> and out

stanley fisher who is the most highly regarded central banker in the world took a direct shot at the white house admitting monetary policy isn't meant to boost revenue. he said governments should improve public infrastructure and have better education and more incentives for private investment. this has been a complaint from the fed for a long time. but they can't go against the president too often. some argue the fed is just making an excuse because it hasn't stoked that virtuous cycle. others agree the fed is the on reason the economy has survived and maybe a more business-friendly environment is the reason for the post-recession recovery. the question is whether it be 25 or 50 basis point. 40% or 25 and more, even 50 basis point hike. either way the street looking for something after the elect. those that didn't watch the market, you will think it was a lazy session that barely saw stocks move. but the main -- the major indices. the acquisition by pfizer. tomorrow new homes will set new tones. coming up, donald trump gaining on hillary clinton when it comes to fundraising. but he'

yesterday the banks vice chairman stanley fisher said the u.s. economy is close to job inflation targets and that means a rate hike this year is still on the table. some promising news for someone annoyed by the pre-reported telephone calls and who isn't, more than 30 companies including joining forces with the government to join a strike for robo calls. august 23rd is considered cheap flight day when the more expensive fares drop. tickets could drop by 10 to 20%. >> that's great information. have i to buy my holiday travel ticket, so jill, thank you for that. >> time to book. this is it. yes. >> sounds like you some where together. >> to see family. >>> monday's top stories to talk about. a 12 year old that wore a vest that -- 51 people died saturday. nearly 50% of them were under the age of 14. so was the bomber says turkish president juan. he blames isis which has a history of using children as weapons. the dead include the bride's sister and >>> south america's first olympics are over in rio. four time gold medals simone biles carried the ame

deutsche bank and commerce bank and talk negative rates on the back of an excellent interview with stanley fisheray. ♪ >> bonuses. wiping more than $2.5 billion from bankers' bonuses. and bonds are set for their biggest monthly loss and the dollar strengthens. will multinational -- this is bloomberg surveils. i'm francine lacqua. tom keene is in europe. -- is in new york. and euro area august

stanley fisher made a pit spot in aspen along the way and guess what, he said the fed is close to hittingts target for full employment and 2% inflation. what he didn't say or what he didn't say i should say is when the bank might actually raise rates, one would think if 2% inflation it might be getting to be time, however, how can the fed think employment is actually strong enough or that there's actually enough inflation right now to be moving on all this? this is the rate that nobody talks about the broadest measurement of unemployment. sometimes for that reason the real rate of unemployment and right now it's at nearly 10%, still. eight years after the 2008 financial meltdown and we are still at massive levels of unemployment when you look at the real unemployment number and translation, well consumer prices were unchanged last month while producer prices actually declined. they declined, down four tenths of a percent in july. so here we are, we have a lousy job market and the threat of deflation being on the horizon. not inflation, deflation, a much, much harder thing for the federal

stanley fisher and bill dudly, part of her inner circle, both out in the last few weeks saying the economys strong. a rate hike is on the table. we heard that message from janet yellen herself. will she clarify her tone tomorrow? >>> also watching economic data as well. the pair of economic reports on today's agenda are weekly jobless claims. july durable goods orders. both out at 8:30 eastern time. demand for durable goods are forecast to rise more than 3% in jewel following a drop of 4% in june. it's a volatile number. as for the earnings side of the equation. dollar general, dollar tree, and tiffany's, you can sense a consumer theme there. after the close today, we get game stop. also on the consumer theme as well. >>> tiffany's is going to be a an interesting one. weak performance for the stock so far this year. landon dowdy joins us with three things to watch. >> sparkle wihere are the three watch. first sales, watch the message sales in particular and any indication of spending in the u.s. faces continued pressure abroad, specifically in europe. in the wake of tourists attacks. take

stanley fisher says you know what we are almost there. the u.s. is about to hit job and inflation markets. it's also the price of oil dropping for a long time. that is the biggest drop in three weeks. the percentage dropped three to half a%. it settles at 4405. we have more rigs that are operating. they are shipping more. supply goes up in the price goes down. remember when pfizer tried to buy allergan and that failed. they were shut down for that plan they do not want u.s. companies moving overseas to capitalize on lower tax rates. donald trump and hillary clinton had both said they would block companies. they make a play for the u.s. a cancer drug company meditation. and the price of about 8150. as you see is not there yet. it's at $80.40. so if pfizer is pain too much where there isn't another company that might be calling up to try to make another play. it's 21% premium. we will see what happens here. pfizer moves back by half a% at the moment. the final deal didn't happen. the total value has suddenly hit the highest since the financial crisi

stanley fisher a man you know well, vice chair of the fed, saying we could see part of the conditionslly improve for a fed interest rate by the end of 2016. that remains to be seen. the market is not agreeing with him. >> that's the risk on friday around jackson hole. janet yellen is going to speak. she's the most important factor to watch when it comes to determining policy. dudly and fisher who two deputies in the inner circle have suggested the economy is doing better and the fed might need to raise interest rates this year. if chshe echoes that, it could a risk for the market. >> speaking of data, we have a lot coming up this week. the housing market is in focus today. july sales are out 10:00 a.m. sales are expected to drop 2% following a more than 3% jump in june. other data today, you've got flash manufacturing, pmi. as for the earnings picture, look for the results from best buy, indue wit. >> now speaking of the consumer, best buy second quarter results will be front and center this morning. our own landon dowdy joins us with three things to watch. >> street is looking for be

sits down with the stanley fisher. that's squawk alley today. >> corporate news, senators are turning up the heat on mylan. the drug company announcing yesterday it will reduce the out-of-pocket cost of the emergency epipen allergy injection for some of the patients following a wave of criticism. this comes as the price of the drug has increased nearly 500% over the past few years. lawmakers aren't satisfied. chuck grassley appeared on closing bell and said the savings card is not enough. and shared his solution and theory for why mylan decided to increase prices for the epipen in the first place. >> draw down the price and we want to know whether that process can be speeded up to get competition to market. because i think one of the reasons milan had the guts to move this price up so rapidly is because they do have a monopoly and about 40% of their client el is medicaid. they can cheat the taxpayers as much as they cheating individual families. >> mylan this week the shares of that company down 12%. a little over that

that word from stanley fisher yesterday signaling a rate hike is a possibility.erday. you can likely see some news perhaps. one strength the fed is citing for the rate hike. middle wage jobs are roaring back as well. the economy added 2.2 million middle class jobs between 2013 and 2015. the hottest industries for the jobs over the past few years, construction, transportation and education. jobs pay between $30,000 and $50,000 a year. >>> ben hur is struggling. it raked in $11.3 million for the weekend. the movie has to make up a lot of ground to break even. it was $100 million to make. it was produced with paramount and mgm. one of the headlines said it didn't have a prayer at the box office. >>> if it happens, it is poised to be the biggest reversal of the trump campaign. a deportation force off the table? "new day" picks up coverage right now. >> we're going to build the wall and mexico is going to pay for wall. >> will that include a deportation force? >> to be determined. >> donald trump is not an experienced politician who carefully selects his words. >> loo

an exclusive interview with stanley fisher explains why he believes the rationale for a bank hike was building sniemtd we've had very strong hiring reports in the last three months. on average, as the chair said, 190,000 higher a month. we have another report coming out next friday. that will probably weigh in our decision along with other data that may come in. so i think the evidence is that the economy has strengthened. the problem with this economy, there are so many numbers every day that you can -- >> that would solve our problem. >> you have to try and figure out what is the main thrust of what's going on in the economy. you can always find a set of data that will build a different case. that's the hard part. >> not a small set of data would be the gdp data. it's been fairly lackluster. an economy that is already lackluster. can't even manage half of that at 1%. is that the economy you want to raise interest rates? >> that's looking back and the numbers get revised very frequently. we want to be looking ahead when we make this decision. not back. we're reasonably close to what

we have vice chair of the fed stanley fisher that's going to join us.s about the direction of interest rate and state of the city. also we have kara swisher and a movie about patent trolls? the latest on that is all coming up on squawk alley. std firm thays the're buckd in for e ive. ner give up ti they bucke up. >> squawk alley is live. ♪ >>> welcome to squawk

think the reason why markets are higher is because we had two fed officials actually walk back, stanley fisher's rate hike intimation from friday. i think you're more likely to see a college world series than a rate hike in september -- [laughter] so i don't think you see that. i think they're going to stay out of the election. you have to look at december as their time frame. and be really if you look at the ten-year note, what's the yield right now, 1.6? how flat do they want to let the yield curve go? are they going to threaten it? no. i don't think they've got room for more than one rate hike this year, and that's really all the market is prepared for, and it's not going to come in september. we're looking at december. again, i think the cubs winning this year is our odds. ashley: yeah, but, mark, the cubs are playing great ball. it's not beyond the realms -- of course, i've just ruined it now. [laughter] all cubs' fans, i apologize. luke at the nymex, i want to talk about oil settling below $47 a barrel. i just don't see the upside for oil to. we all know that opec's not going to do anythin

everything that we have got this exclusive interview taking place with the federal reserve vice chair stanley fisher in jackson hole. that takes place at 7:30 today. very important fed member. don't miss that one. fischer. he's been doing the line of delicate changes to come. >> he was the first to say we are getting close to the targets. people perceiving he's a bit more hawkish. don't want to miss that interview. >>> let me also mention oil prices. dipping slightly after the saudi oil minister hinted to oil friez. he does not believe any, quote, significant intervention in the market is necessary. added crude prices are already moving in the right direction thanks to normal demand and supply forces. at the same time, willing to cooperate with opec members as long as the car tell respects the right to regain lost share of the market. tehran is continuing to insist it's ready. >> of course that's focusing on the supply fundamentals there, but now we're getting lines from bank of america, merrill lynch their oil forecast. they're touching on the fact that the low interest rate environment should supp

fed vice chair stanley fisher told bloomberg that it's impossible to say whether the next rate hike woulde one and done but we do know is possible to say the rate hike is near. jenna: it will be interesting before the election, after the election, all the more reason to watch.jon: the fbi warns about a big risk to the election amid evidence actors have cracked into two state computer systems. one lawmaker wants the fbi to take a stern look. plus, traffic at a standstill while two workers hang on for dear life. how they managed to get back to solid ground. >> jon: there are new worries russia might be trying to influence or sway the american elections. senator harry reid of nevada is asking the fbi to look into evidence of russian interference. his warning comes on the cusp of the fbi warning to be on the lookout for overseas hackers, two states see hit so far. national correspondent ed henry has more from washington, and? reporter: this could be a critical story come november with the integrity of the presidential election at stake but the impact can be felt as early as tonight, some bric

this is a chart on irving fisher and stanley fischer. the overshoot is the yellow circle.ore. the white line is cleveland cpi. yes, the white line is an elevated cleveland cpi. that is another core statistic. ed morse, there is that core inflation. we get that overshoot with your $65 oil, don't we? edward: martin was talking about the services sector in the u.s. boundl services sector is to see significant inflation when we get a drilling rebound. tom: let's go back to the overshoot. bring back the chart. martin, help is here. what is the probability that we cheriantanley fis overshoot. the only one who got my pun was dr. morse. thank you. thein: we like to look at inflation data at the low volatility and high volatility component. the low volatility components are running north of 3% right now. i am not necessarily sure we need oil or energy prices in the middle 60's to deliver that. i would encourage listeners or viewers to look back at a piece that janet yellen released at the end of 2015, which looked at pcemyths relative to the 2% target and where that was coming from

fisher. coming up in moments, stanley fischer.nd washington, this is bloomberg. ♪ francine: this is bloomberg "surveillance." i am francine keene in london, tom washington, d.c. ahead of the stanley fischer interview. tom: we need to digress to politics, which means speaking to martin shanker. counts and tonight there is a critical vote for senator mccain. bring us up to date on his battle in arizona. martin: he had a tough fight but the polling shows it looks like he is going to come through. we have a primary in florida where marco rubio is running and he's is showing he is pretty far ahead. trunk campaign monitor these -- trump campaign monitor these votes? does he address arizona with his speech on immigration? martin: in a normal political cycle you would guess he does that but this is not normal, and he does not seem to be driven by that. it is interesting he is going to try to redefine himself in terms of immigration tomorrow and the world will be watching. francine: what do we know about what he will say on immigration? th

. >> over weekend we heard from stanley fisher and he pointed out how the economy is looking good, howplies we are ready to raise rates. the issue here is that everyone else is listening to janet yellen and after happened early this year, forget lockhart, janet is going to sound note of caution, last year she did that and she was forced, painted into a corner and had to have rates in december and talking to fed insiders, she's becoming a lot more passive agreses sieve the term i've heard used. sandra: you will enjoy this question. i had this conversation with stuart varney on varney&company. has the market priced in the next president? micheal: i feel like the market -- they like hillary because hillary is the devil they know as oppose to the devi lyrics they don't know. dagen: i heart that from everyone. micheal: look at me i'm like bernie, a socialist. no you're not. come on. sandra: if donald trump catches stride and there's movement there and he's able to narrow the margins between him and hillary clinton you would see movement in the market? micheal: how does he catch his stride,

when it comes to the broader markets, stanley fisher says the central bank is close to hitting its full target and offering a pretty upbeat outlook on the economy yesterday. he said the job mark lt is still impruchbing and did not address when the fed should next raise interest rates and that has been the question on the markets' minds. janet yellen will be speaking in jackson hole on friday. joining us to talk about all of this is portfolio strategist at advisors and we have drew mats. deputy chief u.s. economist. joe, is it fair to say your view of the market depends entirely on whether interest rates rise or not? >> it does. it's definitely one of the top two biggest factors we're looking at right now. the first earnings and the second interest rates. we think the u.s. equities, could end the year pretty strong and those two variables, the way they're lining up is number one, earnings are recovering and even though we're talking about the possessional for a hike, it's still far from where we were at the end of last year. >> which is why stocks had such trouble in january. >> higher r