Im wilfred frost, sara is off today. Lets get to the Global Market picture. This comes off another record close for the dow yesterday that was up 0. 7 . The s p and the nasdaq were up just slightly. Banks did well as yields rose. That record close and big jump for the dow flattered by one or two individual stock movers. The likes of caterpillar and 3m up significantly and the price weighting nature of the dow meant it had more of a significant gain than the dow or nasdaq gains for all three indexes. Slight gains this morning for the dow, the s p and nasdaq just lower. Tenyear treasury note, we hit a high of 2. 424 yesterday were at 2. 44. Fractionally love that level that will help the likes of the financials again today on the wall street agenda, a pair of economic reports and plenty of earnings september durable goods earnings are out at 8 30 a. M. , followed by september new home sales at 10 00 a. M. Boeing, cocacola, glaxosmithkline, Northrop Grumman will report before the open as well more earnings coming out as the rest of the week progresses. Lets look at markets around the world. Asian equities, sadly japan ending that 16day winning streak extraordinarily long run it had. Down a half percent today. Gains for shanghai and hong kong india having a good session today. European boards, they were slightly higher yesterday but not doing much today sort of switching the other way. A bit of a decline for the ftse 100. Germany and france either side of the flat line broader markets for you, the dollar board is showing slight gains for the dollar against the yen. But the pound is a little bit higher, which is one reason we saw the ftse 100 lore. The euro not doing much. Aussie dollar today slipping significantly as cpi numbers came out softer than expected. Lets move on. Have a look at oil prices, which were up 1. 1 yesterday today down the best part of a half percent 52. 3 the price of wti. Gold prices down yesterday and down a little bit today. Some of the worlds most powerful investors are gathering in saudi arabia for the future Investment Initiative event. Joining us now from riyadh is dan juergen cofounder of Cambridge EnergyResearch Associates thanks for joining me. Good morning. Thank you. I wanted to touch on one of the headlines that came out of the interview Andrew Ross Sorkin did with the ceo of saudi aramco, he said the depth of the u. S. Shale reserves stateside wont last and that the u. S. Will wake up to that and saudi arabia and the likes of other big opec producers with big crude reserves will be around for much longer. Is that something you agree with i think weve seen the u. S. Shale is a much bigger resource than people anticipated. I think its recognized by saudi arabia and other producers that u. S. Shale is an important dynamic part of the market theres some discussion about how large the whole Permian Basin is in terms of other fields its a different cycle it takes continual investment and a lot of wells, unlike saudi arabia but i think the president of saudi aramco, amin nassers point is that saudi arabia has longterm reserves and will be the lowcost producer for a long time when we think about the aramco ipo, there was a lot of talk about whether that was still on track what oil price do you think is crucial for them to make sure this goes through over the next year or so if Oil Prices Dip below a certain level, do you think they would pull it . I think that, you know, you heard i was on a panel with the Saudi Oil Minister of moscow, he said it will head amin nasser said it is going ahead. The crown prince said it is going ahead. We should assume its going ahead. Clearly they would like do it when oil prices are more positive than negative there is a kind of view now you heard it in the last couple days from the russian minister that oil prices around 60 is kind of a satisfactory price i dont think its contingent on a specific price, but closing it for the second half of 2018, theres an assumption that the oil market will have continued to rebalance and there will be a firmer floor under oil prices. That your view of the oil price over the next year or so well, i think so. I think that weve seen obviously theres geopolitical tension again. The standoff between the Central Government and iraq and the kurds is something that is giving the markets jitters the fundamentals, when we look at our numbers for World Economic growth next year, 3. 2 . We look at oil demand of 1. 8 , you see a synchronized global Economic Growth which really we have not had for years thats a foundation under oil and indeed under other commodities. Lets talk about those other commodities. Weve seen the Industrial Metals pausing after a summer run and take off again is that a positive sign for Global Demand more broadly i think that what were seeing in the commodities we do a weekly materials index. It was up over almost 2 just last week. I think this is all a sign if you look at commodities demand, look at copper, you see signs of strength in the global economy. Thats signal that goes across generally commodities. We heard the head of the imf here in riyadh yesterday also with some strong Economic Growth numbers. So i think people are generally, unless something happens, seeing that were in a better place in terms of global Economic Growth. The fact its not concentrated in one part of the world but europe is part of it and the emerging markets are part of it india is looking at 7. 5 Economic Growth next year. Its a good picture now. Whats your feeling on the ground there at this conference in terms of the fresh perspective, the saudi 2013 approach thats being taken by the kingdom. I ask because, of course, over the last year the other big fresh perspective they took was starting to deal more openly with russia, a traditional opec outsider is that something you think can last i think when i was in moscow a week ago is when the saudi king was there it was a message that i think the Saudi Petroleum minister said we have our national interests. And part of that is just that they both have an interest in this opec, nonopec deal in terms of rebalancing the market. It is a change you can feel the change. The fact this event is taking place in saudi arabia with the openness and ease, you wouldnt have seen that a couple years ago. I think its complicated to reform an economy. It doesnt happen overnight. I think when you have an economy where you have 70 of your population thats 30 years and younger and you realize the model of mainly based on an oil economy that you need to diversify and that the world is changing the world is Going Digital trying to implement that whats strike being it is the speed and scale and people are asking about execution but you see people here with dialogue that you wouldnt have seen a couple years ago. Its a sign of not only generational change but change in attitudes and openness. You know, this is like overnight what theyve done here with slightly different temperatures thank you very much for joining us news out of washington, the Senate Voting to repeal a rule allowing class action suit against banks. Vice president mike pence casting the final vote to break a 50 50 tie. The Banking Industry worked hard to roll back the regulation. Its a a somethisignificant movd with this, this could have an affect on legal settlements that are still on the docket. The Senate Approved a 36 36 billion disaster package, it th this includes a bailout of the troubled National Insurance flood plan more money will be needed as the u. S. Recovers from hurricanes, harvey, irma and maria. Twitter says it will label who is behind political ads. Twitter is launching a website for people to see the identities of buyers, targeted demographics and total ad spend. New reports say Hillary Clintons campaign and the Democratic National committee helped Fund Opposition research that resulted in the controversial dossier containing allegations about then president ial candidate donald trump. The dossier alleged that trump colluded with russia and other allegations which trump has denied. Republicans are racing to finish a tax bill. House democrats are expected to weigh in with their oeb pwn proa as well. Tracie potts has the details good morning we dont have new details because they have not shown the actual legislation yet what we do know is theres dissension in the ranks with republicans who are trying to rally together to get tax reform done. But a couple have come out very vocally against the president. Not just his policies like tax reform and healthcare but against his character. It resulted in a passionate 20minute speech on the senate floor by senator jeff flake announcing hes leaving because he thinks the party, the Republican Party no longer represents the principles that it did and is supporting a president that he has described as dangerous to democracy, having a reckless disregard for truth and decency, outrageous, undignified. He unloaded on President Trump in this speech interestingly afterwards, Mitch Mcconnell, the top republican, didnt denounce what he said but actually applauded him as being a man of morals. He will still be here for another year and a half. We also heard similar criticism from bob corker of tennessee what this means is that theyre there are at least two republicans. They have a razor thin majority of two who are not in lockstep with this president and others like john mccain, Susan Collins who are often skeptical and not voting in lock step with the party as they try to get together on things like tax reform its the big priority, but theres dissension in the ranks. Is there sign that we might see more senators do Something Like this . Two in recent weeks. Yes what are the implications of who might stand in the republican seats for the their senate seats next year first of all, will we see more maybe, maybe not jeff flake and bob corker are not returning to congress. So theyre not running for reelection. They announced that. Theyre open to say whatever they want to say or what they need to say without it worrying reelection bids in terms of where they go from here, the real question about this, we heard this from paul ryan, the House Speaker who said ignore what youre seeing on twitter, were trying to help the American People, but helping the American People means pulling this party together. Right now with the criticism of the president and some of his policies, theyre not unified on some of these issues thank noos for that update fm washington. Chipotle sales dropping 10 on an earnings miss. An analyst joins uwiiss th h take on the food chain after this on Worldwide Exchange. Ambitions live everywhere. Synchrony financial helps make them happen with data, insights, financing and technologies. Synchrony financial. What are you working forward to . I love you, droolius caesar, but sometimes you stink. Febreze car vent clip cleans away odors for up to 30 days. Because the things you love can stink. Throughout history, the one meal when we come together, break bread, share our day and connect as a family. [ bloop, clicking ] and connect, as a family. Just, uh one second voice guy. [ bloop ] huh . Hey . I paused it. Bam, family time. So how is everyone . Find your awesome with xfinity xfi and change the way you wifi. Good morning welcome back to Worldwide Exchange. Lets get you up to speed on market action. A mixed picture for the futures. The dow fractionally higher. The nasdaq and s p lower coming off the back of another record close for the dow. The s p and nasdaq were fractionally popular the dows gains flat the ted bt flattered by caterpillar and 3m. Wti at 52. 20. Chipotle reported Third Quarter profits and samestore sales last night well below forecast the chain was hurt by food borne illness outbreak at a store in virginia the store also cited high prices for avocados joining us is Steven Anderson from maxim group good morning to you. Good morning. Thanks for joining us whats the big miss here that everyone is focusing on . An eps miss, but within that other more concerning items that led the share prices down sharply. There are two items that we saw lean to the eps miss first was samestore sales, up 1 we think if you look at the quarter, its really a tale of two parts of the quarter for a sixweek period the comps were running negatively. Once the caqueso was introduced that moved it to the other side of the ledger. The other is food costs. You cited beef and avocado costs which peaked earlier in the quarter. Theyve since been coming down we think well be looking at the Fourth Quarter and into 2018, we think theres the potential to be added to the margins. The queso launch you think is a success then a mild success. Based on the research weve done, 15 of customers are ordering queso thats consistent with what the company announced. Samestore sales growth youre saying improved during the course of the quarter. Some writeups say it started stronger than it ended it started at 4. 5 , and for a six or sevenweek period it was running down low Single Digits it ended up about 4 to start the Fourth Quarter, comps are running in the low Single Digits. We think queso is part of that but not the entire story your last note you talked about being optimistic because of techdriven sales what do you mean by that what weve seen by tech is over the next several quarters, weve seen this play out with panera, which since has been taken private. We do think that more tech driven sales, thats sales driven by app purchases, catering, put all that together, thats going to at least in our view contribute a couple hundred basis points to comp growth. I think thats certainly following the panera playbook. We call it chipotle it2. 0. Thats partly why they paired back guidance for 201 8 as they rethink the model and we think well see that back towards high single digit unit growth in 2019 and later. Your price target for us, were down 10 this morning. What are you looking for at this point, we certainly are i think theres upside to the current price target i think 10 down this morning, i think thats certainly because people are concerned about the pairing back in growth and the disappointing comp and eps we think all these factors are temporary. Longer term outlook for the brand i think remains strong steven, thank you very much Steven Anderson of the maxim group. Still to come on Worldwide Exchange, chinese president xi unveiling new top leadership positions. A live report from beijing coming up. As we head to break, heres the National Weather forecast from nbcs bill karins good morning to you on this wednesday. Heavy rain moving through eastern new england. Thats our worst weather by far for traveling. Watch out for airport delays out of providence, hartford and boston overnight rains in hartford. We had flash flooding overnight. Thats getting better. Now the heaviest rains pushing into portland, ports mouth, boston and cape cod will be soaking wet all day long this will last this is a slow mover this is today and tomorrow thats one to three inches of rain new york city, youre in the clear. Airport delays from yesterday are a thing of the past. Maybe a stray shower or two in south florida rest of the country looking nice from denver through texas. No problems. Finally still very hot in california another hot World Series Game tonight. 99 degrees at ythsour Business Travel forecast more Worldwide Exchange when we come backmae get back into the marketsealio i need to get back on track with my plan. The Financial Advisor was able to work with this client. Hes now on track to retire when hes 65. Having someone coach you through it is really the value of a Financial Advisor. Ca yes you can can i kick it . Yes you can can i kick it . Yes you can well im gone can i kick it . To all the people who can quest like a tribe does. Hi, im the internet you knoarmless bowling. Lt . Ahhhhhhhh you know whats easy . Building your website with godaddy. Get your domain today and get a free trial of gocentral. Build a better website in under an hour. You wont see these folks they have businesses to run. They have passions to pursue. How do they avoid trips to the post office . Stamps. Com mail letters, ship packages, all the services of the post office right on your computer. Get a 4 week trial, plus 100 in extras including postage and a digital scale. Go to stamps. Com tv and never go to the post office again. Welcome back to Worldwide Exchange. Im wilfred frost. Some stocks to watch, at ts Third Quarter profit fell 9 missing forecasts. The wireless carrier lost more video subscribers to traditional and online tv competitors. Fewer customers also failed to upgrade their phones Juniper NetworksThird Quarter results were in line with the profit warning the company gave two weeks ago they also