For what happens next. In corporate news, becky, apple hold ago product event in california today. The company is expected to unveil the latest event to the companys new line. Mavericks operating system. In other tech news, nokia launching its first tablet today along with two large screen smartphones. These are among the last products the company developed to compete with apple. And samsung. Before deciding to sell its hand set business to microsoft. Microsoft, service 2 and service 2 pro tablets go on sale in 22 initial markets today, including the United States. Both are updates of the first generation surface tablets released last october. Improvements include increased battery life and higher resolution screens and camera peps joe, get your geek glasses on today. You know what, steve . I am more interested in this jobs report than the next one. I dont why . Because im not interested in what the shutdown did. Im interested in the basul level of the next two will be a mess. The expectation is in the Third Quarter when you started seeing more concerns of the tax increases that came in and the sequester numbers. The report brit was already weak. Right. So was it slowing down . This is like when you put in the shutdown, its like reporting earnings with onetime items. The onetime items coming in and then the next one going out. More interested in reference to what janet yellen and the new fed next year is going to be dependent on what the underlying economy is doing. Not what the shutdown did, too. Steve, is it fair to assume, especially prosecute what we have we heard from Charlie Evans, is it fair to say that theres no way theyre tapering this year . Theyre going to have to get more numbers. No, i dont think thats fair. Its fair to assume Charlie Evans has numbers. I think charlie is a little bit kind of left of center. You put the doves there. I dont think look, what he said makes sense, that if youre looking for a real picture of the economy, youre going to have to wait. But whether or not the center of the board doesnt want to wait, thats what we need to hear from guys like dennis lockhart, we need to hear from the chairman about how much they want to wait. If we get a number thats weaker than 180, then would you say its fair for id say below 150 would be a threshold that we would give the fed pause and i think theyll be looking at the Unemployment Rate and why its moving either way. Dupont is out and the stock is trading right near a 52week high. So im not sure how this is going to be taken today. But the revenue number was okay. 7. 7 billion. But theres two numbers to compare to the 41 cent estimate for earnings. One is 30 cents, which is the net number, and the number from continuing operations is 28 cents. So 41 cents was the estimate, both of those are below. The company is backing full year net of 385. And the estimate is 380 on the nn here. So theyre going to need to make some theyre going to need to make some up because this is the Third Quarter. So the Fourth Quarter would have to be better than the 55 cents that people are looking for. And then the companys comments, none of them are really saying that things are better. Like theyre trying to explain things. We see slightly lower full year growth rates for global gdp. Industrial production. We now see a larger negative currency impact and a lower base tax rate. So thats a little bit better. A Fourth Quarter operating earnings will be substantially up from last year. Well, they earn eed 1 1 cents l year. So that was already factored in. And the bid and the ask on the stock is too wide at this point. But it looks maybe thats a real number down 16 cents or so. Operator earnings 35 Cents Per Share . I didnt see that one. From continuing operations, its 28 cents. That would make sense if it was 45 because they know thekdz easily deliver on the full year. This is operator earnings of 45 cents a share. And the Business Wire for that number appears nowhere. Its not in any of the headlines all the way down. Yes. Its a 28 cent number and a 30 correct number. I dont know how theyre going to hit their year number if they missed it by that much. A few comments from ellen, she says Industrial Market demand will remain smooth. They say Fourth Quarter operator earnings will be up substantially from last year. Because it was 11 cents. Third Quarter Sales volumes and operator earnings, stronger compared to most businesses last year. After the bell, theres a couple of things, but netflix is the one we really want to talk about. Its a different Business Model just starting on the content side of things. But the companys earnings beat the street, but it was the Largest Subscriber gains that thats the metric that people watch for netflix. And you can that that stock was up 40 after hours. Its still you know, if you want to talk about the potential for more growth, its only a its a big market. It was 20 billion. But its still you know, i look at other companies and if theyre already at 80 or 90 billion, you wonder how many more times theyre going to double. They did say theyre hopeful that the company will reach a deal with comcast. We had an analyst that said they probably wouldnt get it for the host boxes, but hastings saying theyre hopeful they can do that with comcast and the others in the industry. Im resentful, dont like them. Why . Because its 20 billion cap of market cap comcast could have had. If they do no, remember, if we want to deliver comcast at home, it was the rental dvd thing. Its in the mail. Suddenly they have the software to deliver it directly to their home. The kids watch it over playstation. They firgd it out before i did. Because they were an upstart, they were able to sign a lot of the upstart deals that allowed them to carry all these things. If comcast or time warner had tried this, they wouldnt be able to do this. Id like to take their business and put it on infiniti. That sounds like perfect monolistic behavior. At first, it was a little over 5 . Even if it was space that think about amc buying all of those black and white movie thats no one wants. Its like you know, what was the one with Joseph Cotton and Teresa Wright or whatever, shadow of a doubt or something. And thats whats they had black and white. Then they do breaking bad, walking dead, mad men, suddenly its netflix has followed with its own original content. One. And orange is the new black. I met all the people from that show when i played a benefit for the Womens Prison Association in new york. They all came and the author was there. I met the woman whose life it was based on. Thats even cooler. Well delve into the sensitive you say womens prison to me and i dont know why, but its just what do you mean you dont know why . Its sensitive material that i i want to talk about tech which reported earnings in revenue that topped consensus. Current quarter guidance fell short of estimates. And discover financials earnings and revenue both fell slightly short. Well watch that stock today. Tjx is issuing a full quarter outlook. Sounds like tjmaxx, right . Because its the parent of tjmax dx. The quote now doesnt match the its given up on these. I dont know why the stop is not related. 59. 50 is the number. But its down. No, it was down before the markets closed. After hours is when you saw the move. Its like the obama care website, some of these charts that we have. We have the same people we hired. Internet and revenue disappointing. I shouldnt say that. Thats not nice at all to our people. They have access is to your emails. Thats way too nasty to the people to our people that develop this stuff to compare it to obama care. Anyway, the street under rental company slashed its full year profit outlook and shares of vm ware getting loose. The cloud softwaremaker reported a higher than expected profit as it sold more licenses to enterprise customer. That one looks fine. That was up. Except it looks like it closed at no, 89. 75. All right. Lets get a check on the markets this morning ahead of all of the earnings that were going to be yeah, listen to what he says, not what hes pointing to. Take a look at the futures ahead of earnings. Youre going to see right now those dow futures are down by about 15. 5 points. S p futures down by 2. Nasdaq futures are up once against this morning up by 8. 5 points. Take a look at whats been happening with oil prices. Its not just the jobs numbers that were going to get today, but Oil Inventories that had been delayed. We will be getting a look back at some of those numbers today. Oil markets ahead of that, once again, wti below 100. This time, its below 99. 98. 89. Theres been a massive amount of pressure. Weve had different guests who said, a, its the economy thats weakening. Weve had other guests saying, no, no, thats not it. Take a look at the fundamentals because theres so many energy thats been pumped. Probably some of the tensions in the middle east, not that theyve gone away, but theyve gone off the front pages of the newspaper. Thats why youve seen some of the action, too. The tenyear note is yielding 27606 . The dollar at this hour is up a little bit against the yen. 98. Approximately. Euro is trading at 1. 3673. And gold prices right now are down by about 3. 80, 1,120 an ounce. Did you see Steve Liesman is here for us . I didnt. I was on a plane to check and i ended up here. I dont know how that happened. Have people are tweeting that andrew is anchoring asia squawk box. Like bernie low and apparently it was unbelievable, those two guys together. Chemistry. A total crackup, bernie and why are you looking at me like that . Im just wondering where youre going with that. Im not going anywhere. Not going anywhere at all. Staying right here. Im convinced i was here because you have a story on baldness later. It was cute and endearing last night because harry smith did the piece. Did he . You know my problem with how we talked about this, right . Its the cure for baldness, right . Like a cure for herpes or like its some disease. Lisp to me, they made that very clear that it is. Supposedly it would be the biggest remedy for the most terrible affliction thats ever be set man kind. And i sat there, why did they ask me to come in today . Then i saw the baldness story when i came in. I watched it. It involves stem cells. And cloning. And you put it on their butts. And you grow mice hair. At this point, its great news for any mice that might be hairless. That whole group. Theres celebrations and thats right. On their what . No, just somewhere. Nowhere special. You said put it on their butt. No, i didnt say put it on their butt. I said she has frequentels on her butt. She had freckles on her but shes nice. Have you heard that one . No. Have you ever heard that. She has freckles on her butt no. No. Lets bring in ross westgate. Hes standing by in london with our Global Markets report this morning. Ross, how do you want to tackle this one . Sne she has freckles on her butt its nice to see steve sitting there. Where are we . Five to four decliners outpacing advancers. Not a huge margin for european equities. The Dow Jones Stoxx 600 is completely unchanged. No one really wants to do anything ahead of the tuesday. Jobs report has been talking out this morning. The ftse 100 yesterday we were up just a little bit. 31 points. Just up 9 points. Pretty flat elsewhere for the german french markets and the ftse mib, as well. There are some individual stocks worth taking note of this morning. Perhaps the most surprising investment this year is into this, fcc, fomento de const. Why . Bill gates has push chased 6 of this Construction Group for around 155 million. It now makes him the second biggest shareholder behind the chair woman. Fcc, of course, is a huge hit from the spanish property crash. Since june, though, its shares have doubled in value. So there we have interesting investment. Arm holdings, a chip designer up major ideally this morning. This is a company that designed chip processors that are used in the majority of smartphones including the iphone. They announced today they had a record 48 licenses from 24 separate companies in the last period. Which boosted Third Quarter revenue up 27 . Pretax profits up 36 . There is some concern that as we get more cheaper smartphones, their margins will go down a little bit. But the kre o came out this morning and said, no, thats an opportunity. And lufthansa, down 0. 5 today, as well. The 2011 operating profit will not rise on the year. The reason i mention it, its coming out talking about the problems associated with the strength of the euro. The German Companies are starting to produce a little bit. Back to you. Okay, ross. Thank you. Thank you. Reading about all this pressure on Ellen Coleman to split the company up because the agriculture business is and pelt. We should talk about that. We have an analyst coming up soon. To talk about dupont. 45 cents is okay. The earnings are there, but apparently the company is going to hear it from analysts that its time to spin off the the agricultural portion. From analysts or active investors . From nelson and says here in the journal increasing pressure from analysts or investors, the sell or spinoff of the cultural portion of the business which has been generating most of the growth. Michelle is here. And i dont mean that michelle, i mean this michelle. The internal jobs was played, according to the shutdown. Michelle gerard why do you have two names now . Most people dont go down. They just keep adding, dont they . You know who has a lot of names, if youre in the Spanish Royal family. You actually i think hit every single i know, i know, because it used to be a beautiful name. When she was at rbs. It still is, managing director. Here is my question and its deep. Im saying i want to see the where we were before the shutdown. And then i have people writing in saying that the shutdown isnt a onetime item, that its going to hurt us for a long time. Theres lasting damage. Theres not any lasting damage from this. What, because we think it might happen again . I think first of all, i think youre right. I think you raise a good point. I know lynching to you earlier. It is interesting to see whether or not the economy had momentum going into the shutdown. So that is true. I have to say, ive been a little dismissive of it like, well, what i really want to know is where we are when we come out of this all. The shutdown is going to be more i think the impact is going to be more than a month or two. It took u. S. Sentiment four months to get back to where it was. The whole thing will be drawn out and because when we do it all in january no, we wont. I dont think we will, either. But that point may linger and keep and consumers dont have four months this time because they have to start shopping for christmas like in two weeks. Exactly. There will be less. Less because of that, exactly. There was one other thing i wanted to follow up on with that, but now im thinking about christmas. Anyway, john lynch, which take do you have on this . Oh, i know what i was going to say, john. That last report that we did get was so bad that we were all like, whoa, and it was the revisions and Everything Else. It gave us a whole new idea and it cause today fed to make that crazy decision to, you know, all the preparing it did for us, the tapering, then they didnt taper because of that report. We were already in a slowdown, werent we . Your point about revision was pressure. But i suspect he had misgavings about the political process, as well call it. So i think that was in retrospect the smart move. I think confidence will be more an impact than Economic Activity. If you get 800,000 people with a koump back paychecks, by the time they get that, that could help spending going into the holidays. Of them are getting their backpack plus unemployment insurance. There is an article about that. They get to keep it. Given some of the rules in the states, i guess some of them are able to keep it. Ill tell you, talking about that last report, there is a strong historical tendency for the july august data to get revised up. So that is something. We had come into the second half of the year expecting upward movement. That last report seemed to put a nail this that. We were abandoning hope that the second had a was looking better than the first. I want to ask you a question becky asked me yerlt. October almost impossible, december is going to be tough. I think so. Are you start toog dial in . The fed chief, right . And a new fed chief. I mean, we have gone in september all the way into march. Before we knew we may have concerned in january with all of this being pushed out in terms of the government issues, into january, i think its doing it this year is going to be tough. And the data, too, maybe called into question. So the fed may not feel like they have a clear read. Its the wrong day to quit sniffing glue. We do. Theres never a good day to taper. Never. John, im going to ask you a question just to highlight a point. Is the next move by the fed to do less than 85 or more than 85 . Because thats what we heard yesterday from mark faber. Theres not going to be a taper, theyre going up. I saw that interview. I questioned whether or not they would have to buy more. I do think december has been pushed off, also, because if you remember this Super Duper Committee is die december 7th and then i guess the fed no, december 13th, i think. And then the fed meets a couple of days after that. So i suspect right after thanksgiving were going to have a lot of headline risk as i suspect or anticipate, you know, both sides dealing that into the grounds to think thats going to ask for volatility. Just putting forward that question shows you we were in wonderland. At this point, i dont know. The last two days of trading were really an erie calm. Wouldnt you agree . If 85 billion is going to go in, and the other thing faber called it something, theres a crisis, the government puts in the program to handle a crisis and then the program is permanent. Theres a name for that and economists talk about it and you can go back 8el 0 years and see erchl theres been a fanl cris