joining us from princeton. coming up, it is back. the debt limit returns with plenty at stake.e will discuss after the break. ♪ betty: welcome back to the bloomberg "market day." i am betty liu. we will look at how currencies are doing. you have the yen. you can see, the subject of that safe haven buying, in one week we have seen the yen gain almost one percentage as you can see on this one week chart. the euro is also being benefited by the safe haven buying. what we have seen and the market in the last few weeks is volatility. that is the keyword. on that note, let's look at how equity markets are trading. we have an bouncing along. the lows of the session so far in equities, the dow is down by 400 points. 2.3%.p is now lower by energy shares, financial, those are the ones being wrought down, or bringing down the indexes. on energy, let's look at where oil prices are trading. they are resuming lower, again. nymex is down 7%, same with brent. the three-day rally is pretty much disappearing. the best rally we saw in 25 years. it is down with concerns about inventory moving high

matt: kevin joining us from princeton. what are we to make of the data? to be goingd terribly wrong here, whether that was through negligence, whether it was done on purpose or just an oversight. i think dan can speak to this, we often see the results in the lab are different than in the real world. there are often several different types of tests that will yield different results. it is often difficult to find which is the number that correlates to what we would actually say if we were behind the wheel driving a vehicle. mark: i matt: it is interesting they put up this in 2013 and the finding march 2014. it almost seems as if he heard about it for the last time last week. can you believe senior executives at volkswagen did not know about the discrepancies and figure out why they were happening until recently?: >> that would seem to me, and thatee what the fallout essentially somewhere wrist the entire enterprise to cheat on device.s for the defeat this is not part of the problem emissions on, but nox are the real problem, apparently 10-40 times the legal

alan krueger is with us from princeton. looking at the 2% target that many central banks have adopted for inflation and saying it is not working, we are not getting there, and it is not a problem we are getting there. do we need to change the 2% target? alan: once you have set the target, you should change it reluctantly. it was a mistake to set a specific target. i think a range would have made a lot more sense, a range of 1% to 3%. hitting a target is like hitting a hole in one on a golf course. the central banks have tied their hands in that sense. the big problem we face is deflation, so anything which is safely away from deflation i would say is a sensible target. vonnie: what would be the point of a range of 1% to 3%? that would be saying that as long as there is any flechette -- any inflation at all, we can do what we want. alan: it is hard to precisely hit your target, and the numbers are noisy. then you get shocks like the oil price shock like we just had. economic policy, we have learned that if you try to refine

with us from princeton securities. a different day today? >> much different.motionally for lack of a better term, in my gut as a trader. yesterday, i was willing to give up my long-term belief. today i've got to see a little bit better commitment. there's commitment to buying stocks, not just for a trade, but for investing. that's part in parcel of the exploratio exploration. so, i think, united states is being viewed, again, as a place where you should be investing. >> and china, of course, is now closed for several sessions. it's a bit of a god send in many senses. >> it is. and again, i continue to pound the table on the idea that the market is trading on the economics of china, not the stock market of china. >> yes. >> and that is what needs to be priced into a marketplace. and as we get more and more real life examples out of china, what's exactly happening, it'll give us the stability to continue to move on in price justifiably, which, again, goes to my theory if you're investing in stocks, not markets, you should be investing in the u.s. centric stocks,

mark: matthew campbell joining us from london, ken shay joining us from princeton university.much. we are just about 24 hours away the u.s.decision by federal reserve. we will find out if policy makers will raise interest rates and what that might mean not only for the u.s., but global markets. we will have special programming for you on thursday beginning at 2:00 p.m. new york time. ♪ mark: let's get straight to a check of the markets. julie hyman is standing by in the newsroom. good afternoon. julie: we have had the major averages gaining throughout the day as investors await fed decision. earlier today we had a change, and that's more typical as investors do wait for the fed, especially when we have actuals and around the decision -- suspense around the decision that will be announced tomorrow. it looks like a lot of the gain is coming from energy stocks. you see what exactly i'm talking about here. rally at thisased point. energy is the best performing group, closely followed by utilities. wise as well as materials, are contributing to the gains in today's session. oil of

we have an auto analyst for bloomberg intelligence, he joins us from our princeton new jersey bureau.l question everyone needs to ask when we are over here is not only what the future is of wouldd vw but how much this it affect the global economy? kevin: good morning, i think there is over capacity and this global industry and auto industry in general. im sure the demand is there and there will be automakers ready to fill in and grab those shares. probably an is issue with that technology specifically. we see here diesel engines are not as popular or necessary on the cost side as they are in europe. and we have seen other automakers go to other technologies. i think this all gets worked out. it may mean a change in the strategy for a company like hasswagen who cannot do or proven that they cannot do diesel clean, high-performance, and cost-effectively. and maybe adopt another strategy. we are seeing investors sell first and ask questions later when it comes to bmw and vw has been hit hard. your suggesting this is a company specific problem that won't affect the auto industry in genera

." >> joining us from the floor of the new york stock exchange. princetonecurities group for a game plan that looks like this. biowrecks. after candidate clinton's tweets sank the sector, what now? we ask top rated analyst isi's dr. mark schoenbaum, and nick woodman, an exclusive today on gopro's growth. the stock's big drop, and the barrons takedown. we begin with the global

." >> joining us from the floor of the new york stock exchange. princeton securities group for a game plan that looks like this. biowrecks. after candidate clinton's tweets sank the sector, what now? we ask top rated analyst isi's dr. mark schoenbaum, and nick woodman, an exclusive today on gopro's growth. the stock's big drop, and the barrons takedown. we begin with the global selloff. stocks down sharply at this hour. germany in a bear market. oil falling again. the dollar is rising. concerns continue to grow about global growth. josh, people are running for cover. identify heard some folks say that crude is acting as a proxy for the commodity space at large. it's acting as a proxy for the market. richard fisher was on our air saying even he is confused with where we are now. art cashin talking about the ft article about emerging markets coming apart. what's dragging stocks sharply lower? >> i think the dollar probably a very big factor, but, you know, i also think that there's been a huge psychology shift. we've been talking about this idea that the posi

from princeton and oxford and wesleyan seminary. reverend murray's congregation is nonpartisan with the belief that god transcends that which divides us. i'm so happy that she led us today in prayer. thank you very much. mr. mcconnell: mr. president? the presiding officer: the majority leader. mr. mcconnell: mr. president, the democrats have chosen to deny the senate a final vote on the president's deal with iran. they made their choice, but that doesn't mean the discussion is over. today we'll have another opportunity to address the lifting of congressionally mandated sanctions as called for in the joint comprehensive plan of action. today we'll have an opportunity to vote on a question of policy policy -- should iran be left with a threshold nuclear program, one now recognized by the p-5 plus 1 and receive billions of dollars in sanctions relief without any linkage whatsoever to other aspects of this foreign policy adventurism. that's the question before us. i'll discuss that vote in greater detail in just a moment, but first a reminder of how we got to this point. here's what we know about the nuclear deal with iran. it's president