. >> don't worry about the strength of the dollar. fed policymaker charles plosser says the rate won't be determined by short-term volatility. >> even an interest rate. >> upbeat earnings drive european stocks higher with vodafone leading the stoxx 600 after it hikes the dividend and launches a new broadband service. >>> shares in henkle. the ukraine crisis is hurting europe but russia's economy remains strong. >> the surrounding countries are reacting and russia remains strong. europe is strong now. but germany is having the strongest growth since 2012. >>> $6 billion and counting. alibaba firmly on course for record breaking sales as consumers snap up online bargains. cnbc speaks to founder jack ma later today. display you're watching "worldwide exchange," bringing you business news from around the globe. >>> nouriel roubini says he doesn't think the fed will hike interest rates anytime soon. factors in whether the u.s. inflation and the rest of the world could lead officials to start hiking more slowly. >> it could be sometime in th

the probability of dollar breakout is very big. if that happens the chances of the dollar moving much more rapidly than we've seen for many, many years would lead oil to go that much further. prices in oil could go down to $30, $40 a barrel easily if the dollar moves in the way i think it possibly could. >> would shale bring the fed back into the picture, pushing the dollar back lower. what point do you have to worry about this counterforce which self-creating venture to where you're talking. >> what we need to understand is when the dollar rallies significantly other stuff goes on in the world, emerging market carry trades. my estimation that's $5 trillion. that's enormous. never going to happen. the imbalance of that whole situation takes times to play out and can be quite risky. the last two times we saw the dollar rally of any significance, one in the early '80s, one in the mid, late '90s. at that point we had emerging markets. >> how far below the cost of oil does it have to get before you start to see the supply dynamic change

this is the dollar. he trade as you said, jon, 235 is around the consensus estimate under this year. a 5 yoif year high. -- 5

we are still north of 48 to the dollar. we started the week at 43 to the dollar. go, the ruble was 32 to the dollar. most of this is pretty shocking for russians. they think of their own personal wealth through the ruble-dollar exchange rate. we had the central bank say earlier that they would do what is necessary to defend russia's financial security and the stability of the banking system after some anecdotal evidence that russians are pulling their rubles out of banks and turning that into dollars. this is a trend that is very worrisome for russians and also for inflation given the amount of imported products in russia. something to keep your eye on this week. we to all-outre war in the east of ukraine? >> we are moving in that direction it would appear. that gas deal,ot everything we have seen has been escalated or a, including -- escalatory, including comments accusing one another of starting offenses. we can't confirm any major offensives in the east of the country but it does sound like they are laying the groundwork to setting up the pretext for further mil

value for the packages is 213 million dollars. and that for the direct cost excluding the fees and the upcoming trade packages that was developed in february of 2014. and 246 million dollars. the difference is 33 million, and as well as the 26 million dollars in potential, and we continue to work with the mayor's office for the funding for the parks so that we can open the park with the transit center to be sure that the park can be opened with the transit center and issue, with what i think and the prepackage that requires the lead for the plant course and we should do that for last month, and we will bring it for at ward in january. also with the elements of the park in january and this was bringing that to the board for award in june. the contract will be paid a set fee, and once the design is completed and the total cost is agreed to and the construction cost portion which is step two of the process will be brought up to the board for approval and incorporated to the example of the contract once the board approves the awards an

and that is what the 36 million dollars, and what the total cost is going to be 40.75 million dollars and so there is about 5 million dollars, and now, the 3 proposals that we received, when we interviewed each of them indicated that they could do, and they could design it for less than 30 million, and so as we sit down with them and with the crown core, and maybe we will be negotiating the best value for us. >> and the cost sharing for our project that is under $30 million is enough to offset their fee? and i mean, is there enough incentive built in so that they actually have incentive to bring it in at less than 30 million. >> and we believe that they do. and for any cost, and less than 20 million dollars, we split the difference and so if we can come up with the cost and they will get 2 million and we will get 2 million dollar back and so if we design it for 25, and the total cost will be 35 million dollars. and so, the proposals and the crown core is that we could design it for less than 30 million, and given that we did not receive any bids on the initial for the bid we want it t

the aussie dollar? when we got the surprise rate from china, we did see that sent in from the u.s. dollar. now analyst representing further rate cuts from china which you could potentially see a rebound in iron ore and other commodity demand from china. is that one reason to get bullish on the aussie/dollar if that is the expectation? >> i certainly think the trade story in regard to the correction of the australian dollar is near completion. a couple of years ago, we had the australian dollar as the most overvalued currency in the g-10 state. it's been a substantial correction. we're now into fair value territory. we have the australian dollar weakening next year, but that's more on fed policy and the dollar more broadly. specifically on the australian dollar, our deal in china is a little bit more upbeat on the market in consensus. i think the australian dollar lower on the terms of trade is probably complete. >> do you think sluggish growth from china, that's the new normal? and sluggish growth, let's

we always show the dollar. at the bottom what you see is the dollar strengthening dramatically. they have currency leaving the country. >> massive. >> people are frightened to invest there. the currency has fallen dramatically in the last year. look at that. the dollar has gained 37%. they were spending a lot of money trying to change that. they said they are not going to bother anymore. >> what a dramatic statement. >> they said we are going to let the market set the price at this point. it is an indication of what a tough spot they are in. >> absolutely. thanks on both fronts. >>> speaking of markets, the dow hitting triple digits, near session highs. the republican sweep of the senate the major headline today. there were plenty of smaller races of particular interest to silicon valley. next on the show we look at the tech winners and losers in the mid terms. today could be the day. the day we give you hope. relief. a cure. today, we believe every life deserves world-class care. as one of the top four hospitals in the nation, over 100,000 people from around the world come to cl

the dollar ruble falling. canald rather have root than five the ruble. -- all make are a mara to- paul mcna discuss. >> japanese gdp dominating headlines. a surprise contraction for the japanese economy after the previous contraction in the japanese economy. you add it up, and you get the japanese recession. a lot of people are looking at 1997. that was the last time they hike that sales tax. a lot of people speculating there could be snap elections in japan. you could get prime minister back the nexthing sales tax hike. what do we get? we get japanese stocks down 3%. i am looking at their earnings. the ftse 100 down 4/10 of 1%. about growth in japan. concerns about global growth as well dominated the g-20. prominent -- prime minister david cameron talking about the risk of a global recession and what that means for the u.k.. that is what is coming. we will talk to prime minister cameron about his concerns about growth. one of the big-company stories this morning, we are going to start with company news. the co

this is the dollar. this is the trade as you said, jon, 235 is around the consensus estimate under this year. a 5 yoif year high. - 5 1/2-year high. that difference between east and west versus north and south in europe. s&p made records yesterday afternoon. 80% of the companies in the u.s. reported a profit. in europe today we are seeing just a little bit of a -- carry through. equity markets are opening higher. we've had a couple of reports. waiting for the dax to open. allianz we saw the figure come out there for 50 million euros worth of money that has been taken out of allianz. let's see how that opens. paris, that's where all the action is. arcelormittal up 4%. credit agricole. the banks generally lower this morning. richemont saying actually the protests in hong kong -- their numbers. that is not really knocking their overall performance this morning. sales down 1%. asia has slowed down. and the overall operating profit -- up 1.3%, burr bury. burberry down .2%. they talked about a slow down. a look

bully for pennies on the dollar. student debt recently was less than 3% of the market value of the debt. so the publicity it generates through that process and debtors are now aware of how little the debt collection is paid for that. and when they call you up, they harass you, we know that they've only paid pennies on the dollar, and are asking for the full dollar from you. so it changes the conversation that you have with the debt collector when you know that. so even if you save 3%, they are still making out like in its and they don't lose money area and even though they collect a small amount of what they're asking for. >> host: what protections are consumers have? >> guest: the consumer financial protection bureau monitors business. and the debt collection is one of those that is being scrutinized. beginning to look at this. we've always hoped that there would be more regulations in that part of the industry. in terms of federal oversight there is an agency now that is responsible for that. and of course they have

manus cranny with the opening. dollar-yen. >> quite frankly i was more interested in norwegian krone. this is one of the most private trades in the world but let's look at dollar-yen. 118.58.- not being flippant but when there is this huge momentum shift one has to question how they deal with the movers. they actually said the euro-dollar would hit parity that is more of a shocking call myself. reflecting back on where to put your money whether in the united states of america or indeed in asia, we just had a conversation with admin chang and it is still a hard market to choose. referring dollars as the global currency of choice. equity is part of the sentiment, france, germany likewise. the u.k. retail sales will come out of the warm weather that we are having here in the netted kingdom, how will that impact sales. a couple individual names, i wonder if arm is actually moving. the ceo making comments last 1.24%,there you go, up in theory more dividends to come. those are comments from the ceo. let's have a little bit of a

the dollar giving up a little bit of ground today. the yen is basically flawed. 0.87% for aussie/dollar. let's talk about what's happening in asia, center of our thoughts today with developments in japan. handsing over to slee jegarajah stanning by in singapore. >> it's over to you now, mr. abe. we've had a lot of political and policy noise over the past couple of days really suggesting that we are going to see a postponement of the says tax hike and we would be the wiser in about an hour's time when prime minister abe starts speaking at that press conference. in the minds of a lot of investors, it looks as though it's going to be imminent. a big question in my mind is the duration, how long is the second stage of the sales tax hike from 8% to 10%, how long is that going to be deferred for? i understand it's going to be about 18 months so the motorcycles will be looking for that clarification. the other factor here is when is abe going to kick off that process? i'm learning those polls could take place in mid-december. so we need clari

for 25, and the total cost will be 35 million dollars. and so, the proposals and the crown core is that we could design it for less than 30 million, and given that we did not receive any bids on the initial for the bid we want it to be on the safe side, and assign the 30 million dollar value. >> maybe, i don't understand how this is working. we don't know what the construction costs will be, we don't know what the materials and we don't have to work out an agreement. so, i would have thought then that we said, look, there is a design services, and we will find out after it is designed what it is going to cost and then you will be bidding on that and then on that basis, i thought that is what you were saying was going to happen, and so these numbers, that crown core inc has in for the construction fee and the construction overhead, are really just plugged numbers, based on an estimate of construction costs. and now, in effect we will say, design it, and then we will figure out the construction, and so, why are we getting into a construction

the dollar buying it pushing the single currency lore against the green back. euro dollar is mow at the lower 14 level. the weaker yen is making exporter shares attractive and this is pushing the nikkei index heyer. up two-thirds percent higher than monday's close. a higher performance on wall street is also giving tokyo a boost. le's take a look at what's happening on other markets. and in australia, we are seeing the benchmark index lower this morning. right now, it is down 5,511. >>> atlantic blue fin tuna may no longer be op the brink of extinction and delegates are set to increase fishing quotas for the atlantic and the met terrain yan. members of the commission for conservative vegas of atlantic tunas are -- earlier this month that it would be acceptable to increase the quota by 70% in the next few years. that works out to about 10,000 tons. it would be the first increase in the fishing quota in two years. the european union supports the plan as does morocco and other members with industries. >> the next issue is sustainable fishing. >> japan is the larger

, and the difference between the budget and that will be 78.1 million dollars. >> afterall of the awards, and for the packages are completed we would have 70.2 million dars in construction, and this amount is approximately, 3 percent, of the ongoing, upcoming work, and but it does include covering over exposure, and that is current exposure, and all other exposures. and this concludes my presentation. >> director reiskin? >> a friend of yours? >> i think that it is a big concern of all of ours including our cac. and i guess that just starting at your last point, what is the current exposure that we have? terms of outstanding change orders or claims? >> since we are in the negotiation for the claims, and some of the change orders, >> could you give us an order of magnitude in terms of what has been submitted against that 70? >> approximately maybe half of that. >> and i am not, exactly sure of the number, to date. but i can send you the information, though. >> but just that. >> that will leave us in a very low single digit percentages in terms of availablable contingency

i would say every family and student has a right to know how the dollars are spent and we should have audits of the kind of institutional debts that the universities are holding and there are conflicts. >> how big is the debt collection industry in the u.s.? >> i don't have the figures off the top of my head then it is one of the more of unscrupulous. relearned a little bit of debt collection from the jubilee project and we know how the agents by it pennies on the dollar the last ones for less than 3%. as a result of the publicity that we generate through that project now they are much more aware of how little they pay for that debt so when they call you up to harass you you know, that they have paid a penny is on the dollar and they ask for the full dollar from new. so when you know, that even if you only pay 3% they still make off like bandits. they don't lose money even if they just collect a small amount. >> host: what protections to consumers have? >> guest: the us consumer financial protection bureau that collection industry is one of the factors that has been scrutinizing and i

on "countdown," the dollar could get a boost. next guest says we should look to black friday sales to gauge the u.s. consumer confidence. strategy atad of fx canadian imperial bank of commerce. he is back in two minutes. stay with us. ♪ >> live pictures for you from ferguson, missouri. protests have kicked off after a grand jury decided not to charge a police officer for the killing of unarmed teenager michael brown. time for today's company news. ker examining a bid for smith and nephew. that is according to people familiar with the matter. they could structure the transaction as a tax in version to move its business address to the u.k., where smith and nephew is based. smith and nephew say it is aware of the interest but could decide against the bid. bayer is exploring the sale of its diabetes device business according to people familiar with the matter. bayer is working with credit suisse on the potential sale that could be worth as much as 2 billion euros. it is part of their strategy to shed peripheral units to concentrate o

lee, .7760.vicki the aussie dollar -- if i can just find the aussie dollar -- down a further 1%. vel right reacting to the weaker than expected manufacturing data coming out of china. that is also playing out in the markets. what we see across the region today, a fairly mixed picture. japan is closed. most markets are higher, the markets that matter are falling in terms of eight today -- weight today. australia, the pmi data playing out. new zealand, that is one of the strange ones you have today. it is at a record high. 11 straight days of gains, the longest streak since at least 2011. the cost the index, fairly important to note, exports coming out over the weekend blowing estimates, up 2.5%, taking the trade surplus to a record $7.5 billion. you had these comments coming out of the governor of bank of korea, they are keeping an i on the rapid decline of the japanese yen relative to their currency. that said, it is not really playing out as far as the exports were concerned. anyway, overall, the regional benchmark is down about .5% because of these three markets, but everywhere

this is the bloomberg dollar index. jobs reports, long. ve a note out on the website saying that they are the dollarerweight versus the aussie in the euro. suggesting the dollar is slightly overboard on a 14 day basis and the dollar is coming off its highs of the day. 15 months in a row, they have left rates unchanged. this is the governor saying it is against -- above fundamental value and will take time for item limit to fall. the off the years lows for 2014 aussie dollar. >> let's talk about some breaking news this morning. -- that is a sales touch ahead investments. em w confirming their forecast for 2014. one of the interesting things is looking at the margins and how they perform against their rivals. this is the number one luxury carmaker. a position they have held for the last nine years. let's get to hans nichols who will be monitoring this story as it develops throughout the morning. have does look like we them beat on the top line revenue number. we will begin on what the possibility is doing. many rebates are they terms, where a

we will see a squeeze of the dollar positioning the short-term.ee the dollar yen declining. the dollar yen will pick up. the other currencies is the ruble. yesterday the central bank said we are not going to stand in front of this train anymore. we will step back. this is the worst performing market currency. does the market continue to challenge the central bank in russia? >> it was the right move by the central bank for what they did. consistentand it is with the drop in oil prices. from this point of view, there is no reason for the central bank to stop this. it was consistent with fundamentals. it does not overshoot. looking forward, [indiscernible] but oilecting the ruble prices are much more important for the ruble. >> what about the swiss franc? vote.ike a it seems to be taking us to close to the 120 double for the euro against the swiss franc. >> that is an interesting story. the market is short the swiss franc and the swiss franc is moving the other way. there are two questions. on the one hand, [indiscernible] given that inflation is ver

the aussie dollar is overvalued. option still on the table for the aussies. -- done a rather on volume luted trade. -- convoluted trade. >> the european union and the u.s. are considering further sanctions against russia. nato said russia sent further troops and equipment into eastern ukraine. sanctions could be agreed as early as monday at a meeting of e.u. foreign ministers. president obama is in myanmar. i.s. is attracting a growing number of militants from the region raising the risk they might return to their home countries and carry out attacks. it was a brief encounter for the rosetta probe that landed on a come it in the solar system. scientists had lost contact with it. the manager of the landing program said "it is complicated to land on a comet." >> understatement of the day. nearly a year since ireland exited its bailout. there has been something of a recovery since the dark days. >> return prices fell 47% from the peak of the market in twen. the budget deficit rose to more than 32% of g.d.p. and in 2010

the dollar strength has been a problem for oil, as well, pushing it lower. some traders telling me they think there are too many bears in the trade and think we could pop to potentially the high 80s. you have the other side of the coin saying this thing is destined to go lower. i just got slipped a note from a trader here saying $75 crude oil by friday. we do friendly wagers here on the floor. he is going double or nothing. i have to think about that carefully. >> thank you very much. >>> if somebody asks you what is the third most powerful stock rally in the past five years? you are going to answer that it is this one and that you heard that on "street signs," by the way. the only other rallies as significant as this have been 2010 september rally and 2011's october rally. matt maily joining us. you have been nervous and have been as you say on the fence. have you jumped off the fence and started buying stocks again? >> well, first, i just want to thank our veterans out there before i answer the question there. and also kudos to cnbc. you do such a great job

of course, it has been an impact on the dollar directly. you wayne gordon from a ubs joining us. we will take a break. having a look at what has been happening market wise. the rally when it comes to equities. that surprise decision on friday by the people's bank china to cut the cost of borrowing. this is "on the move." ♪ pornographyhild laws have come under scrutiny. idols,of so-called child there are current -- and their campaigns, for its removal. >> she was searching for candy but what is a mother found her shocked her. scantily clad girls on dvds part of japan's industry that generated $650 million last year. ini thought it was a glitch their system. how could this be sold on amazon? a popular keyword candy around halloween. started her> that campaign to stop selling it. she received so many threats we have concealed her identity. the candy doll collection and other similar items were available on japan's three largest retail sites. as of november 19, a search for candy doll collections returned 17 results containing images of girls w

what matters is not so much the dollar strength. is long-term rates. as the boj pumps in money, u.s. long-term rates remain low, and that prevents capital from leaving asia. that is a nice cushion. it buys us time. >> we have already seen some capital outflows recently. don't want it to happen again, the taper tantrum. how does this all play out? the other central banks in the region, will this prompt them to start easing as well? >> to some extent, it has already happened. twice and it is not clear they really needed to. low,se inflation is currency was strong, they persisted with easing. rate comesj, another on the table. japan is here is that exporting its deflationary pressures. the other countries are absorbing that and trying to fight back. too much think we have dependence on monetary policy? in, when else coming is the fiscal part of it? we heard from central bankers around the globe saying, we can only do so much. >> we are too dependent. if you provide free money to politicians, they will happily take it without imposing reforms. that is somet

the dollar/ruble, short-lived, come to a little bit? y be tricky to call the end of the rally of the dollar/ruble. how i look at it from the risks may further upside from here over longer-term particular to continues to it deteriorate on the back of weaker commodity prices also and furtherr russia escalation of the tensions may lead to new sanctions over time. the bank of russia will have to consider more options to stabilize the currency until they come, the risk can still to the upside. theet's talk about what central bank of russia has and ammunition. they have went through quite quickly. >> they have amount of reserves, 300 billion and gold resource. it should be more than 400 billion and the faqs once a currency crisis occurs, the becomethe reserves could quite alarming. what could be see as a war chest could be depleted. what the officials of may have to look for is a combination of fx intervention was heightened monetary policy like the bank of turkey at the beginning of the year to restore financial stability. playlook out commod

don't forget they compromise 70% of the dollar index. have the election here in the united states tomorrow. if the republicans pick up seats in both the senate and the house as specked that should be more grid lock in washington which means more of the status quo. i don't see a reason why the dollar would reverse meaningfully in the near future. >> we haven't done a predictions for next year yet but i'm going to just give a hint to one of mine. i believe -- i have been wrong on this because i said this two years ago -- i think the dollar will be in parity with the euro within five years. do you think that could happen? >> i mean, i think anything is possible. >> do you think it will happen? >> five years is a long timeframe. >> no, it won't. >> four for four on my predictions this year so far. very specific predictions, by the way. >> well done. thank you. >>> be sure to check out the online edition of "talking numbers" in partnership with yahoo finance. >> was i supposed to not say five years? a one-year thing? >> if it is my prediction

the dollar a stronger but likewise the canadian dollar is strong in. who will weather this better?e dollar overall is probably the winner on the other side of the commodity currency losses. the other less directive is wasng in the bank of japan tied directly to the inflationary impact of lower oil prices. we now seem to be an environment where the bank of japan is responding to relatively short-term developments raising the prospect of further boj easing at upcoming meetings. i think there's a secondary effect elsewhere where the policy response will induce a currency move and that's why you see the yen weakening so much today. saying 115 sort of is not a consensus on dollar-yen. bank of japan is moving ahead without consensus supporting additional qe. what will that do to the currency? is theknee-jerk reaction currency lower of of course. much lower term we have thoughts about what it could do long term. the knee-jerk reaction is clearly to take the currency lower. what it did was leave open the threat of qe at any time. to not move policy in the ty pe of piecemeal way. that now a

the dollar is a big focus. having a look at it right now, slightly lower topping out at the 114 yen levels. analysts say the next big thing for the dollar is the u.s. jobs numbers on friday. very quick look at asian indexes. a muted reaction compared to the gains in the anyay. analysts suggesting that manufacturing data out of china on monday put a dampener in. there. >> thanks for that update. ramin mellegard. there. >>> japan's finance minister is considered about the downside of the falling yen. taro aso thinks the government may need to step in. >> translator: the weaker yen may be good for export businesses. on the other hand it will drive up prices for imported goods. so we have to ease the impact of that. >> the finance minister says the extra stimulus is mainly intended to drag the economy out of deflation. he says the weakening of the yen is a secondary effect. aso says japan has explained the reason for its finance policy to leaders in other countries. >>> >>> for more insight we spoke with martin schu

the family dollar board continues to favor the dollar tree offer in the belief dollar general is not willing to divest enough stores. 1,500 willing to divest. we haven't talked about it lately, the bid on it, so it is probably in excess of 2,500. mid december is the meeting there. >> it's december 23. >> the ftc might require 4,000 stores to be sold. >> that becomes a question. if they were to come with a 2500 offer, my sense is it might at least bring negotiations between family dollar and dollar general. could you get to a number that would meet the threshold the family dollar board believes it would need to. dollar general's bid is a higher price than the dollar tree bid. >> wouldn't be regulators be more accepting of the dollar tree combo because they aren't as big competitors and don't operate the same? >> they are. dollar general has the ability to bid higher and already at a higher number. >> might be making their way into individual names. caterpillar one of the worst performers on the dow. people might start wondering or worrying about mining in that part of the world. >> all

the dollar. hat a level that is acceptable? >> it is a company that has a lot of engineering in israel. a stronger dollar in order to benefit from the situation. to have it more sustainable, we probably need the shekel to be a bit weaker. >> has it impacted earnings at all? has it hurt you? >> definitely in the past we are exchange.r if it will continue to have a positive impact on our business, our ability to invest in engineering in israel. isone of the hottest things big data. are you focusing on that right now? is it just educating? you have been doing big data before most people even heard of it. >> we are able to do gigantic data. we take a tremendous amount of data since we started the and we 28 years ago, bring analytics and applications using this data. of havingbination even more technology. a lot of education, which is is helping our business. >> you talk about strong organic growth. plan to also said you aggressively pursue acquisitions. what kind of area are you looking at? how much h

look at the dollar against the yen. talked about on yahoo finance dollar is lower against the yen. it correlates well to the s&p. s&p has backed off quite significantly. i am wondering if we get a little bit of dollar pause in this rally and a little safe haven bid from the s&p. >> sounds like fade it even if it gets a pop. neither of you thinks it will last. >> it needs to get through 1,250 to get the party started to get fear going. this dollar rally is monstrous. with what china did and what draghi is about to do, it is massive. how can the fed raise rates when the rest of the world is full on liquidity in the system? >> i think gold might have a chance to recover here. >> cautiously optimistic. thank you very much. be sure to check out the online edition of "talking numbers" in partnership with yahoo finance. >>> president obama's immigration order can be a big game changer for small business. >> it is your last call to guess today's mystery chart. here are some of your hints so far. it is on fire up more than 11% t

the next stop probably $73 going to come when we see the stronger dollar continue. some saying we could see a $90 handle on the index within the coming weeks. we need to watch it closely. this is becoming a crowded trade to the short side when traders start to get nervous because last minute shorts that pile on, they are the first to cover when things get tense. we could see a bit of a pop. one trader telling me he expects to see oil at the $65 level. the pop before we get there. a lot of action, we are following it closely. >> thank you very much. >>> a big part of the reason why oil prices moving lower here in the united states is because of what is happening abroad specifically saudi arabia. michelle caruso-cabrera joins us with that angle. we can't really put all of the blame on the saudis, can we? >> no, but a lot of it. talking about the willingness to tolerate lower price levels to the united states. the big question, why? is it economic? or is it geo political? we are cable tv. we put saudi arabia in the center with oil barrels going in two different directio

stephanie link who shares her investment strategies, and market insights with action alerts plus, the multimillion dollar portfolio. you can learn more at the street.com/nbr. >> i'm eager to work with the new congress to make the next two years as productive as possible. >> we're going to go back to work and actually pass legislation. >> all parties strike a conciliatory tone as they dig in their heels and set agendas. what are the odds washington will get stuff done on issues important to business? >> to do list from the federal reserve to the job market. what does the new face of congress mean for the economy? >> and what to watch. three sectors that may have the most to gain from a republican-controlled senate. all that and more tonight on "nightly business report." it's wednesday, november 5th. and good evening, everybody. i'm bill griffeth in tonight for tyler mathisen. >> i'm susie gharib. evening. stocks soared to new highs and as investors were emboldened by the republican sweep. republicans made promises to start working right away on important economic issues, including trade, corporate tax ref

the dollar still trading at seven-year highs against the yen. 115.79-82. analysts are expecting the dollar's strong trend to continue as the data shows a positive outlook for the u.s. economy. let's take a look at what's happening in other markets in the parcific-asia region. in australia, the benchmark index is down by two-thirds percent. a bit of a mixed picture. >>> japanese government officials have been moving to reduce the effective corporate tax rate. there are concerns about a drop in revenue. the officials are looking at ways of making up for it. the finance minister and the head of the country's biggest business organization have met to discuss a possible solution. finance minister and chairman of the japan business federation agreed that the government should expand the coverage of what's known as the size based corporate tax. right now the tax is levied on major corporations even if they're in the red. the government is considering taxing smaller firms, too, from next april. they also agreed on the need to lighten the tax burden on companies th

the u.s. dollar. here there was a clear reaction also to the draghi equities are rallying on the back of those comments. but also, the hawks have some reason to see a backing from draghi, he is reiterating they are preparing for the unconventional measures in case the outcome of already taking measures is not decisions to raise inflation expect actions. with that, back to you. >> annette, thank you very much. the stoxx 600 is up 0.9% off the back of this and the italian ten-year bond yield is at record lows. joining us now, gareth davis is from jpmorgan. there was a bit of someone from everyone, a bit from the bears, a bit from the bells. he was saying inflation expectations are far too low but in the longer term inflation expectations were on track. >> exactly. they just need time. he's almost saying steady the ship, hold on, and wait to see the plans are already announced which can be amended. see how they ban out into q1. >> mario draghi addressed the lack of growth. were there any game changing s

this is making the dollar more attractive to investors. in other trading, one euro is fetching 149.99 and in other markets in the asia pacific region, south korea is trading a such lower. in australia, the benchmark index is trading higher by about.01. >>> prime minister abe raised the consumption tax in april. he's now contemplating another hike. robert lynch says abe's decision could dictate the direction of the yen. >> dollar itself we're still relatively positive on, but the prospect for further yen weakness is going to be in part o seeing the effects of this new initiatives out of japan. >> abe is due to make his decision by the end of the year. >>> analysts say the rise in the consumption tax in april and cool, summer weather made japanese consumers spend less. they say that probably caused gross domestic product to grow more slowly than expected. analysts from ten private research firms and financial institutions estimate gdp rose between 0.2 and 0.7% in real terms. that translates to a rate of between 1 and 1.28%. consumer spending

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and how are the decisions made about where your donated dollars go? >> so we have a strategy that focuses on a couple of key things that we've seen both related to the business as well as important in the communities where our associates live and work and play. so we focus on financial education, financial literacy, education, small business and workforce development and affordable housing. we do national programming, but all of our giving is really done on a local basis, taking a look at what's really needed in the local communities. >> for most funders, is giving just about the dollars? it's about more than dollars, isn't it? >> absolutely. we talk about beyond dollars and their ability to not only invest resources but the ability to leverage additional resources, their ability to bring partners to the table that may not have come to the table before. they certainly can serve as a bridge between philanthropy, the non-profit sector, but also government and business. they're doing a lot of work in being change agents that goes beyond dollars? >> our to

i like the dollar, i like higher yield economies. hink the indonesian ruby >> thank you very much. up, french gdp for the first quarter is out in just a couple of minutes. he will bring you the figures as soon as they break. ♪ >> what did they like, they like the dollar. that is what foreign exchange traders are still buying. looking for a bounce in u.s. retail sales. also, michigan consumer sentiment expected to rise to 85.7. hold a meeting to cancel next year's tax hikes. also, i am seeing on the screen. it is called the stop loss. i cannot take anymore pain. japanese yen, the fourth week of losses, down 7.9%. keep an eye on euro-dollar. theow that anna is one of gdp numbers on the late. by .3 percent, a economists surveyed by bloomberg were expecting an increase of .1%. the second quarter was revised from stagnation to .1% contraction. that is bad news. the economy was flat in the first quarter, it is stagnated in the second quarter by .1% but it did grow by more than expected in the third quarter. gain, bar the second quarter of 2

if they get the family dollar, i think it goes much higher. >> according to bank of america, fund managers are the most bullish on japan in nine years. this after the country announced bold moves to keep its economy going. how should you play it? melissa otto and her specialty is japanese equities. i'm surprised had bullishness is highest in nine years. this trade was crowded last year. salespeople are still piling in. >> the halloween surprise really took the market by storm. the government went all in. we had a coordinated effort. the b.o.j. pulling the strig trigger on qe. the pen fu coming in. >> you know what else? we had that shocking gdp print. how does that factor in? were you shocked? >> i had definitely had a suspicion it was going to be bad but minus 1.6 was definitely worse than expectations. >> didn't change your thesis on japan at all? the central bank at this time so much outweighing what's happening in the real economy there. >> gdp is a backward looking number. so it made me think okay the worst is over now where do we go. so it just struck me there's probably time for mom

in the last three years we've spent 43 dollars in the feed grain program for every dollar bushel of corn we don't grow. senator humphrey last week charged that barry goldwater, as president, would seek to eliminate farmers. he should do his homework a little better, because he'll find out that we've had a decline of 5 million in the farm population under these government programs. he'll also find that the democratic administration has sought to get from congress \[an] extension of the farm program to include that three-fourths that is now free. he'll find that they've also asked for the right to imprison farmers who wouldn't keep books as prescribed by the federal government. the secretary of agriculture asked for the right to seize farms through condemnation and resell them to other individuals. and contained in that same program was a provision that would have allowed the federal government to remove 2 million farmers from the soil. at the same time, there's been an increase in the department of agriculture employees. there's now one for every 30 farms in the united states, and still t