Target to the federal funds rate will be data dependal. All right. Seems confusing enough. But the bulls do seem happy enough with the fed at least for now. The dow closing at another record. You can see up by about 25 points. The s p rallying back above 2,000. If you take a look at whats happening with the futures this morning, you will see at this point the green arrows continue. About 57 points above fair value. S p futures up about 8 points. Appeared rue, over to you. Thank you, becky. Were going to talk today because it is what were calling alibaba day. The chinese ecommerce giant said to price the ipo after the bell this afternoon. The range has been listed to between 66 and 68 a share. Due to strong investor demand. Stocks then expect to start trading on the New York Stock Exchange tomorrow with the Ticker Symbol baba. And not a bad symbol. If you havent gotten your shares, call your broker if youre going to get them at all. Anyway, the other big news happened late in the day. Tim cook now taking a swipe at some of his biggest rivals. Apples ceo unveiling the companys new privacy policy. Apple promises its not building a profile based on customer email content or webb browsing habits to sell to advertisers. A few years ago, users of Internet Services began to realize when an Online Service is free, youre not the customer, youre the product. But at apple, we believe a Great Customer experience shouldnt come at the expense of your privacy. Whereas some other tech giants, including facebook and google have come under fire in the past for their privacy policies, apple trying to make users feels comfortable with its security following the recent celebrity photo leak scandal of nude images. What i find so interesting is what theyre really trying to do is differentiate themselves. Its interesting to me when an entire generation of people actually gave about giving away their information the way we do on google and facebook. But apple saying thats not the case. No one responded to our guy yesterday, peter . That was the story. Yeah, it was and i dont even think how about alibaba and the seas . That was pretty good, too. Baba, it rang a bell. Do you remember bab alouis . I havent thought of this guy in 40 years. Quick draw mcgraw. Do you know who quick draw mcgraw is . It reminds me of baba buoy, too. Were going to be interviewing some expert on alibaba and hes going to go oh, howard going to get to get prints on that. Becky, andrew swears thats not the same tie that he wore yesterday. He thinks that im going i think youre doing the walk of shame. I dont know where you were last night and its a different shirt, a different tie. Its the same tie. Underwear is different. Maybe you hung up the tie and in the dark this morning you theres pink lines in it. Ill try to give you the benefit of the doubt. Did you go home . Did you sleep in the gutter . No. I slept in my bed. Were going to get a screen shot. I think youre colorblind. But the other day, you thought you had on a blue shirt and it was purple. He thinks this is a blue shirt. This is purple or punk or whatever it is, but its not blue. All right. You can continue on. Go for it. I want to talk about yellen, too. I mean, considerable time. But what is considerable . She said the definition is vague. Is it a month . Is it three months . Do you know, andrew . And they say theyre being transparent, but when they say things but theyre trying to back themselves out of being in this position where theyre saying were data dependent. Theyve been saying the word data dependent for the last six years. Now theyre emphasizing it again. When youre trying to do this, you cant actually be transparent. It needs to inspire confidence when 90 of what theyre discussing is how to say things to throw im not sure why the bulls feel confident with that yesterday. I know they could have taken some measures to take some things out, but i think its just as likely that it could come they know and they listen to what people are conjecturing about. Apple isnt without its problems. The company says its health kit apps will be delayed by a bug in its new operating system. The help kit app was a key part of apples newest iphone. The only reason i want an apple watch is so i can hear my heartbeat on my watch. When i talk to you, i want to see if your heartbeat changes. Up and down and up and down. Youre like a drill sergeant. When i notice maybe youre i dont understand where you anyway. Beautiful tie. It is a nice tie, but very similar. Its similar you are very focused on trying to remember what certain ties look like. Why . I look at you every day. I appreciate that. I have to, you know . You sit across from me. Amazon is expanding its kindle lineup. The Company Announcing six new or upgraded devices among the products. Theres the high end 199 daughters ereader, which is called the kindle i would say voyage instead of the voyage. Discovery communications is reportedly seeking a controlling interest in the hub tv network. The company said they have the share of the childrens cable tv network. Hub is expected to be renamed discovery family. This has been a couple of years in the making. Theres some good shows on hub. But you remember we went out for the haunting hour. Yeah. Was that on hub . That was hub. So that is a good asset. I mean i look at discovery and, you know, where is that stock in public, do you remember . Its like 20 something. And hes been well compensated for how will but most of it has been performance based and its an incredible asset. A lot of people think thats one of those companies that could go, andrew, that could be attractive to someone. Ive always said it either gets bought or john malone uses it as an umbrella to try to create a mini comcast, actually. When malone said we need to rationalize these cable properties, like time warner, needs to be scale, it needs to go with someone, maybe well take it with chapter and then comcast, is it did i disingenuous for discovery to say this isnt a good idea . Would he do things like that, say one thing out of one site side of the mouth . He has different all of the content guys are talking to sbc about the time warner comcast, at t saying amgzly but also they cant push it too far because they may want to do their own deal at some point. So it is very tricky. Every little person said anything, you know, any of them said anything. Well see. Well, you know what . Nobody gives dont give them any ideas. Lets talk about some washington news. The senate could vote today. That los angeles passed the house with bypart sap support yesterday, expecting to get picked up and voted as a whole in the senate. The markets continue to rise this week and react positively to new highs. Joining us now to break that down, rich steinberg, president and cio. Its steinburg global asset management. I just feel like were in on the it kind of reminds me of almost the kabuki dance. Thats okay. Were in on it. I dont know what considerable means. It could mean three months, could mean six months, but it doesnt matter. As long as they left it there, they know how to massage the markets to keep them headed higher. Well, you know, we know as long as they kept the funds rate at almost zero that youve had a good stock market. If the theory is to whether youll continue to have a good market when rates start to rise. So it hasnt been proven that you could have a good market when rates rise. Its about continuation of an environment where we pretty much know whats going to happen instead of going into this great, new world where the rates would be going up again. The fed is there until the economy can do it on its own. And then if rates are rising for a good reason, then you figure there wont be any interruption. But thats the problem is i think if fed at this point still isnt absolutely convinced that the economy is way above at this point. How do you pass the baton if youre not sure that its going to hold . And i think one thing that is bothersome to the fed is the type of news we had yesterday where you didnt have any movement in the cpi that your core your nonfood, nonenergy cpi was essentially unchanged. Theyre concerned that if theres absolutely no Pricing Power, you cant be having a very strong economy. So one of the prerequisites for the fed to move is to see this inflation start to at least pick up somewhat is and they sure did see that in august. Some poem dont like the dual mandate, but i think the fed probably figures, well, if the biggest negative to all of our accommodation is inflation, thats what we need to worry about and unemployment still isnt where we want it, and theres no inflation and lets just keep going. If were not seeing any negative consequences, how can it hurt to stay at zero . Thats what theyre thinking. I think youre spot on, joe. This period, i think were going to start to go through is a period of digestion with some doubts of indigestion. I went back and watched the q a from Steve Liesman with yellen and his aunt. I felt like an nfl review going back and watching the body language back and forth. And essentially, the messaging that i got was, yeah, were going to have to see how things are going, not only in inflation and gdp, also up at the labor market. But dont put words in my mouth. You can see the body language from her which is were doing what were doing and is were going to have to see how it goes. Dont jump to conclusions. So whether do you date the beginning of zero Interest Rates, rich . How many years has it ben been . Gosh, you know, i think were going to end up it doesnt matter. Its been a long time. The question, really, though, joe, is how much of a bump in rates will either the fed give us or will the market give us to be acceptable to Equity Investors to continue to put money to work . One of my big concerns is the group thing thats going on with the strong dollar, overseas investors are going to continue to buy the ten year because even if they lose money in price, theyre going to get it in currency. My career has always showed me group think can be dangerous. Did you try to buy any alibaba, rich . We are not participating in alibaba. It doesnt fit our criteria. Why, is it going to go up a lot . First of all, i think its very hard for investors to get it. Second of all, in our world you can buy as much as you want after it opens. Yeah. I think its going to be a name that we can watch and once its seasoned, we can evaluate how to vault. Are you watching scotland . Yes. And we dont know, do we . I dont trust holes. I dont know what it means. And there is a very caharismati National Leader that is saying, lets seize the moment. He reminds me of medical gibson or something, like william wallace. How do you get to where its too close to call without making a compelling case . What would that do if it surprises everyone and they vote for independence . Well, the pound has weakened. Its going to weaken considerably more. It generates the type of uncertainty that would give you a general flight to the dollar and probably be good for the u. S. Bond market. Theyre letting 16yearolds vote for the first time and who knows what these kids are going to do. And foreigners. Right. You never know. Scotland is an important golf course, too, andrew. Is your worry about scotland or the domino effect that some people talk about, whether it be in spain or other places inside europe . Well, you worry about catalonia because theyre going to vote. They have a referendum vote, too. So it raises questions about the stability of the eurozone in general. But if scottland chooses to stay, does that mean the catalonia thing is off the table . Oh, no, the catalonia situation is still on the table. Even if scotland votes to stay in the union, to stay with the uk. And, rich, its just texas, right . Florida seems to understand that low income rates are good for attracting business. That is a heck of a state. Maybe miami would carve itself off in florida because its a different world, but i think florida stays in the u. S. And a great world down there. A lot of pastel colors and, you know, attractive policemen. They were detectives, i guess. Thank you, richard. And thank you, maury harris. You will see that you are colorblind. The vote is on now. Will scotland decide to stay or will it go . Our own Michelle Caruso cabrera live with the latest read on the referendum for independence. And and the Nations Energy boom is creating more than oil and gas. How about a boom of millionaires . We have the Wealth Report later this hour. Were back in just a moment. Es l powers when she has the shroud . No. Guys . Its the woven one the woven one. Oh, oh that gives her invincibility. Guys . No, no, no. The scarlet king is lord victors son no dont. I told you you guys are gonna be so surprised when you watch the finale youre so lucky your car has wifi. Yeah. I am. Equinox from chevrolet. The first and only car company to bring builtin 4g lte wifi to cars, trucks and crossovers. Welcome back, everybody. Voting under way at this hour throughout scotland. Will the scotts vote for independence . It could do down to the wide. Michelle Caruso Cabrera is live with us. People are getting nervous about this now. Yeah, because its so close. Too close to call, many believe. 4. 2 million stocks are registered to vote. Thats 97 of the population. They are expecting high turnout, more than 80 of the more than 2,600 polling places across the country. Theres only one question on the ballot. Should scotland be an independent country . Guys, you know i love to show you the local newspapers, the local sentiment, we have day of destiny here. This one of my favorite from london, which is the daily mirror where they say, dont leave thus way. We went to several polling place these morning. Here is what we found. The yes vote is much more passive, some people bringing their children when they were voting yes, taking pictures because they felt they was going to be potentially a momentum and historic day. Here we see angela with her three children and her husband. We asked her, why did you bring your kidsyou . We wanted the kids to remember when we vote. We want our kids to remember this is part of something historic and hopefully will change everything forever, really. When you look at the signs, their slogan is literally, its not worth the risk. Its tough to get excited about that. Guys, were cnbc so we did a lot bit of cnbc sight seeing. We went to the tomb of what we think is one of the most important scottsmen ever, adam smith, the guy mind the invisible hand, the belief that a noncoercive agreement between buyer and seller and a wonderful way to attribute resources in a society. Back to you. We need to keep him front and center. Now more than ever, god all mighty, it should be mandatory instead of some of the other stuff that seems mandatory. Its like its not worth the risk. It is like could be really good. I mean, the rewards could be the rewards could be huge, but its probably not worth the although it would be great its probably not what you know, it worked out pretty well for the United States. Didnt we, like, split from england at some point . It didnt go quite as smoothly as this. The United Kingdom has been getting smaller and smaller and smaller ever since 1776, quite frankly. I saw one of the other signs said no thanks. No thanks. Its not worth the risk. If we knew for sure it would work, it would be great because it would be much better, but lets not take the chance. That is a terrible, terrible slogan. But the original one was better together, but thats still not quite emphatic, is it . I noticed there werent a lot of other media and cameras around the polling places. Thats because the rules are different, right . Americans can voet vote on this, but you cant if youre the uk. Theres a lot of rules about what you can say on television locally today. We are not subject to them. In the next hour, ill show you one more newspaper, too. There was tons of international media, Chinese Media covering a democratic vote. Found that europe interesting. What cant you say . Youre going to see a limited coverage. They will only do basic stuff, the polling on the balanceon, this is very, very simple stuff. Do you have people around you there . Do you have like a crew with you . Oh, yeah, of course. Youre not alone standing there, are you . Look behind you. Have you seen like a wear wolf in london or Something Like that . That looks like the that is really spooky. Wuthering heights. You hear the soun of the wolf and it comes from youre not sure where its coming from in a fog. Nowhere to run. How many people do you actually have there . Does anyone have any garlic . Theres tons of tourists. Were high up on a hill. Theoretically, you should be able to see edinburgh behind me. How many crew members . Yeah. Because they only use one or two normally. Next month is october, by the way. Love that shot. Michelle, we will see you again in just a little bit, we hope. Yeah, we hope. Up next, the countdown to the biggest ipo is on. Well ahead to china to find out why allibaba is so popular and how its bringing millions of dollars to the users on the mainland. Before we head to break, here is a brief look at what exactly alibaba is all about. Former english teacher jack mob founded the Alibaba Group utah of its apartment in 1999. Its now chinas largest ecommerce company, connecting 279 million buyers with 8. 5 million sellers. Alibaba customers have spent nearly 300 billion. More than ebay and amazon combined. The website brings in the most cash from businesses selling everything from to pet supplies, from Halloween Costumes to sex toys. The other cash cow is a virtual mall. Alibaba also owns part of the shipping company used to deliver the products it sells and a Payment ServiceOnline Shoppers pay. Issuing loans and even money market funds. But even though alibabas online mer chance ves sold four times as much as ebay, they bring in less revenue and what alibaba is really offering in their u. S. Ipo is shares of a variable interest entity, which means the u. S. Investers wont own a piece of the chinese company. Theyll be buying into a Cayman Island entity named Alibaba Group holding limited, leaving control of alibaba with jack mah and his board. So what were looking for is a way to plus our Accounting Firms mobile plan. And minus our expenses. Perfect timing. Wer