Defund the health care bill. Among our newsmakers on the topic this morning, we have former oh bam in omb director peter or zaszag. Then coming up at 8 30 eastern, we have former vice chair alice rivlin. And aei senior fellow Kevin Hassette. And in other washington news, the federal Housing Administration will likely soon take a cash infusion from the treasury. The agency needs help to cover losses from souring loans. Jcpenney looking to raise as much as 750,000 to 1 billion to build up its cash reserves. The retailer is leaning towards issuing new shares. But other methods of raising capital are erroredly on the table. Goldman sachs says it expects the retailers to move more slowly. Anyway, another hard hit stock this year, blackberry, we talked bit almost every morning. Fairfax financial says it is confident it can find the money to fund its 4. 7 billion for the smartphonemaker. But shares did fall yesterday on doubts about that bid. Meantime, tmobile, i dont know, becky, announcing it will stop stocking blackberry in its stores saying it is no longer efficient to keep the devices there, meaning nobody is buying them. In other corporate news, citigroup has agreed to pay 395 million to freddie mac. Potential flaws. Roughly 3. 7 million mortgages that the bank sold to the Housing Finance company from 2000 on to 2012. Back over to you, becky. I dont know what im going to do, andrew. Im holding on to my last blackberry. Its a hard to come by option these days. It will be a collectors item. Yeah, i think it will. Do you guys know what a you know what a time capsule is. Yeah. Theres not many around. If they have a time capsule, people will go back 20 years from now and look what people are using. And can you believe we use these things . Yours is in Good Condition and one of the last ones that i see around. I have a second one upstairs from my last one. Save them to the kids for the time capsule there. Bed, bath beyond posting slightly betterthanexpected earnings revenue. A little bit of a different story for j dell circuit. Current quarters earnings disappointed guidance. Cesars entertainment making news. The casino and Hotel Operator announced a 10 million share secondary offering through credit swiss. Take a look at what happened in that stock, too. Joe, back over to you. Ive been sitting here pondering the way it feels. Maybe its a good thing. I look at the dow and its just what is going to be the impetus to get the averages moving higher again . Thats what worries me. Its like the law of diminishing returns on qe. And, you know, we got that oneday bounce. Goldman sachss entry . Visa. But just in general, where is the positive sentiment . Maybe we dont need positive sentiment. Strong consumer sales over the holidays. Now were worried about earnings. Were worried the reason you see, thats the other thing. The reason that the fed didnt taper was because of the economic back drop was positive. Bad news is bad news. Remember, may, we were at a high and they said they were going to taper and then the market went into a tizzy. Then we finally got back to another new high when they said they wouldnt taper. Now, its just i dont know what have you done for me lately . 85 billion to 95 billion. Yeah. But im worried that were stuck. Im worried that, you know, what if theres no it has to be strong earnings. And then youve got yellen who might not want you to start tapering because she may be headed higher. I dont know. And then youve got all this stuff. I was going bring in go dog go or some we should have done that yesterday. If we were going to read dr. Seuss, we should have done it yesterday. We missed our window. And anyway, lately, what the dow has indicated n morning has not been where weve closed. Its had Trouble Holding on to gains ever since ta big gain we had on nontaper day. Lets look at the oil markets now. Any chance we had to go below 100 after syria looked a little more positive once the dollar started going down, that got to be less likely. The tenyear, i have no idea if my life depended on whether the above three or below 2, i dont know. In a month, you moon . No. The next move. Is the next move above three or is it down to two . I think its above three. Do you . I do. I hope so. I do. You wouldnt normally hope for signs to go up. And you start to see how people are worrying again. We dont want to fall into this swoon. Is the dollar board or the gold board wa do we have . I was thinking 135 on the euro. That is near term highs. Now all of these markets are waiting. Lets go to the global markets. Ross westgate is standing by in london. Is that red . I think i saw its almost like christmas behind him. No, its red. Its red, ross. Yeah, it is, joe. Im like the futures. Were down down side here in europe, about 6 to 3 decliners currently outpacing advancers. Its been like tloo that through most of the session. Fairly flat today for the uk markets, just off 10. Its gets worse as we go along the wall. The xetra dax off 0. 3 . The cac 40 down 0. 5 . The ftse mib is down 1. 8 . Last night, we have a vote from members of sylvia berlusconis party. They voted to say they would withdraw support from the Coalition Government if he was kicked out of the senate. Were trying to see if we can get some resolution for that story which is ongoing. And would have been talking about it for a various number of weeks. Some interesting stocks to look at today, nokia selling its hand set business to microsoft. Its been reported that they have been considering before and maybe post whether they should file with alcatel lucent, the other network equipmentmaker. Alcatel lucent listed in france up over 6 at the moment on the back of that story. And finally, as well, h m, the swedish retailer, well known around the globe, up 6. 5 today. Comfortably beating forecasts with sales and sales for september up around 8 on the year. That is where we stand. Back to you. Ross, thank you very much. Well talk to you again tomorrow. In the meantime, consumer stocks took a hit after learning walmart is cutting orders with suppliers as merchandise starts to pile up. But a spokesman said the report was misleading. He ordered in some categories the discounter is ordering more and in others the discounter is ordering less. How worried should investors be . Joining us now is sara malick, with tiaa creff. Thanks for being here. Thanks for having me. When you hear walmart is cutting back on orders because inventories are piling up, that is an allout alert heading into the holiday season. How worried should we be . We actually still think the consumer is very strong. One stock we still like is costco because this is more of a recurring revenue business. This is the type of may be name you can continue to own. Costco, customers love it. Where else can you go and buy a new york strip state steak and an Engagement Ring in the same shopping cart . This is true. And you can go there for lunch. And 70 of coast cos profits are on fees. Thats an argument for costco. When you hear what happened with walmart yesterday, does that worry you about whats happening on the lower enof the shopping consumers . Theres always risk around trading up or trading down with the consumer. We think the economy remains really strong and that the strong consumer and manufacturing data will support the economy from here through some of these equity debt ceiling and negotiations. What is the fed doing . The fed is waiting for their Economic Data to hit their targets in terms of employment and economic growth. They also probably wanted to take a pause as we get through some of the october budget negotiations. So when that data hits their targets, we think tapering will start. Likely at the end of this year or in early 2014. I wonder if the summers thing the more i think the summers thing i think it was part of the i dont know. That is just the gossipy take on it. If its going to be janet yellen, would is more comfortable with qe than summers was, i think they felt less need to start before he left if shes going to continue and pain be more dovish than he is. So you think the second larry gets out, then they make that t decision not the same day. Its like, wait a minute, do we want to go down ten so that her first move is going back up ten . Didnt they talk about her in the room, by the way . Do they say, look, janet, we know it looks like youre going to get the job no, not in the room. Sfwh did you renew your costco card . I have been to costco, but i dont have a card. Youve been to one . I dont shop. I have a costco card. Ive also been to walmart. What about beyond costco, which is a unique situation where you have the membership cards and the needs coming in from that . Do you like any other retailers . We like car max which we think will be a game changer in the used car industry. Car max knot your fathers oldsmobile any more. This company has a great market share opportunity. They have 2 market share. We expect that to triple over the next five to ten years. This is another retailer that deserves a premium because of their strong growth rate. When we look at the average age of the fleet of the nations cars, i think its Something Like 11 years now and car max has been a big beneficiary of people keeping their cars around longer, do you expect that number to go down at any point as people buy new cars . And will that impact car max . We think that car maxs growth will come from a lot of new store openings and theyre using their strong free to can a cash to grow that. We saw strong auto sales in august. We think all of that will benefit car max. Like auto nation or we prefer carmax. But you might still like auto nation, right . We would prefer carmax. All right. Never mind. Thank you very much for joining us today. Great talking to you. Thanks for having me. Coming up, twitter striking a deal with the nfl. This is amazing. You said you didnt like twitter. Now youre going to have to love twitter. Well talk about that. Snippets, though. First, as we head to break, lets check on the national forecast. What determines when we get the ateam, like reynolds . I love alex, but i mean, when this guy comes on, it just is i dont know. He lights up a room. Its the pocket square. He likes up a room. Checking the mail. Man, check it in the mail. Thank you so much, joe. Look at how quick we get that music ready. That is fantastic. Guys, lets talk about your forecast quickly. Rain and snow up in montana. Some spots could see up to 10 inches of snowfall before the day is out. Beautiful conditions for you even into the weekend for much of new york. Breezy conditions back into connecticut and into rhode island. So in terms of delays today, could see showers and backups potentially in miami. But hey, looks fantastic for you both in new york and chicago. No major issues. All right, folks, sit tight. We have more squawk box coming up. Well see you in a few moments. vo you are a business pro. Maestro of project management. Baron of the buildout. You need a permit. To be this awesome. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. You can even take a fullsize or above, and still pay the midsize price. aaron purrrfect. vo meeeow, business pro. Meeeow. Go national. Go like a pro. Ask ask. Time now for the executive edge. This is a daily segment focused on giving Business Leaders a leg up. Twitter will soon carry instant replay nfl footage. Its part of a new advertising partner that could boost the companys revenue. Twitters amplified Service Allows broadcasters to show video clips and ads that are tweets through what is being sloan on tv. As part of the package, the nfl will add other game highlights. This videos will include a short ad from the marketer and the tweets will be distributed by the marketer during the games. The nfl and twitter will both testify the proceeds. Andrew, you had the early call on this on thinking that more of these Internet Companies were going to get involved with the nfl and once it goes to sports, then people who dont love it, youre going to get forced on to it. I had the opposite take. And that was when goodell was in here, i said, please, do not people said it was like tommy boy where he loves that movie. Its a beautiful thing, nfl. Dont ruin it by letting google or amazon televise whole games. But this is different. This makes sense. Broadcasters actually agree with it. Youre getting additional revenue. Lets say theres a great play and you tweet it out that, wow, i missed this. And then you watch a snippet on twitter. Thats totally different than letting a google televise every nfl i dont think youre going to get google televising every nfl game. Its a steady margin. Thats 10, 20 years from now. Its designed for networks you see like nbc. Like nbc, i know. Something like this is for live graphics, right . If you missed it, maybe you would go and run to a television. This is like an add on that enhances the experience. They call it the second screen. That screen experience. What is that thing that weve had . What is that, sport where they guys that are talking about the t sports games or sports production. Theyre tweeting, hey, did you see it . He reminded me of that a little bit. Except i dont want as a person, i dont want my thing there when im trying to watch i dont want to have to hear it go off and say whats this when the game i do it already. When im watching something that comes on or you get twitter on your blackberry . I do, yeah. I have an app for it on the blackberry. Look at you. Im not as Old Fashioned as you think. But its not as good. No, its not, and its frustrating because it doesnt connect to links like this. I was thinking about this when i read this story. I dont think i would be able to watch any of these clips on the blackberry. I heard that nokia is getting out of the hand set how is that . Nokia out of the hand set business. It was sold to microsoft. Noi nokia, motorola, Ericsson Ericsson got out of it a while ago. I know. But think about it, when you watched those movies and the guys that make televisions, too, none of those exist any more. Theyve all been the spun off and bought by companies overseas. The samsung in your house years ago was a cheap tv that you had bought and now its state of the art. The world has changed. Guys, lets talk about something being called one of the greatest comebacks ever in the world of sports. Oracle team usa capturing the americas cup against new zealand. Just a week ago, larry elisons team trailed 81. It was being compared to, i dont know, the red sox coming back after a three losses to the yankees and being able to actually win the seventh series. Or the ryder cup when europe came back. Right, right. I wish i understood it better so that i could be excited that were keeping the cup. But they said that i guess theres a zigzag part and supposedly this boat was so fast they just caught them. But its hard work because they told these guys, this is it, this is the time to do it. And i guess the well, really, one of the guys died on may 9th. As a result, they were wearing kind of body armor, the rest of the sailors were wearing body armor, had a knife on them and a locator device in case you fell over. That thing was flying. Business question, though. Its called the oracle team. Did oracle pay to sponsor that . Larry elison paid about 500 million. Is it larrys money or oracle . I think the bulk of it, i think larry elison himself paid about 500 million. I dont know if oracle pays anything into it. If its called oracle, i thought the elison team the dynamics of this and yesterday talking about he was an absentee ceo because he was working on this. And i was thinking if its the oracle team, maybe it benefits oracle because of the branding. Do you remember the whole ted turns mystique. Captain courageous. There was another rich guy delving into sailing. Even jane fonda thought he was irresistible at that point. Actually, i think he was irresistible. Less irresistible now that he has less money . Is that wa dwrur thats mean. So he does have a little time warner. Shares, yeah. When we come back, a new fund will let investors bet on bit coins. We have the man behind the venture joining us right after this. First, as we head to break, take a look at yesterdays winners and losers. [ male announcer ] this store knows how to handle a saturday crowd. [ male announcer ] the parking lot helps by letting us know whos coming. The carts keep everyone on the right track. The power tools introduce themselves. All the bits and bulbs keep themselves stocked. And the doors even handle the checkout so we can work on that thing thats stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything. So everyone goes home happy. Good morning and welcome back to squawk box here on cnbc. Im joe kernen along with becky quick and Andrew Ross Sorkin. Im being told that its ted turners boat was called the courageous, but the moniker was captain outrageous at the time. Making headlines this morning, richmond fed president Jeffrey Lacker says the Central Banks effort to assure the public that Interest Rates will remain near zero for years could have a per verse effect. He says it could hurt confidence and damage economic growth. Lacker has been critical not only of the zero Interest Rate policy, but also qe and the asset purchases. This is kind of a new twist on things, though. Everybody has an opinion about qe being good or bad. But most people think the zero Interest Rate part theyre not criticizing that. They should emphasize that as we exit qe, right . By emphasizing well stay at zero to not get the market to worry about that. Now lacker is even say that might be i dont want them talking any more. What good is it . One economic figure makes all the comments moot. Plaquerock will focus on short maturity funds. Blackrock and other etf providers note concerns about Interest Rates going up has driven investors towards shortterm fixed income securities. See whether thats the right move or not. We dont know. Maybe Interest Rates arent going up. We talked about that early earlier. Ive got todays squawk box planner for you. Coming up at 8 30 eastern time this morning, we have weekly jobless claims. First time filings are expected to rise to 330,000. Remember, there have been issues over the last two weekly reports. Those numbers were skewed by upgrades on two Computer Systems that caused the states to underreport claims. So well see today if we f