I am here in nantucket. Later on throughout the weekend, you wont be hearing from them, but i hopefully will be giving you news on monday. Chris matthews, they are all here in nantucket talking big ideas. So we will bring you that throughout the next couple of hours. Becky, back to you. Looking forward to it. Andrew, well talk more in just a moment. But in the meantime, lets get everybody caught up on wall street. It is waking up to green arrows this morning, a welcomed sight for the bulls after yesterdays selloff. Take a look at what the u. S. Equity futures are doing at this point. Nasdaq futures up by 20 points on the s p futures up by just over 6 points. Volatility, definitely jumping back into the markets this week. The vix soaring nearly 18 yesterday, all the way back to above 15. 5 . It seemed as though no one was spared from the carnage yesterday. All 30 dow components finished lower. The blue chip index dropped below 17,000. This was its biggest decline in about two months. You can see that drop of about 1. 5 . Technology stocks were hit particularly hard. The nasdaq dropping by nearly 2 . And tech was the worst performing of the s ps ten main industry groups. The s p down by about 32 points. In asia overnight, youll see that they picked up on some of our keys, at least the nikkei was down by 0. 8 . The hang seng was weaker and in the european stocks early this morning and some of the early trades, youll see that right now things are mixed. The best performers to the cac in front up by over 0. 6 . The dax and the ftse have barely budged. I thought they would call it one of the biggest losses of the year. But when you see it, i think they have feet of clay when it comes to stock market iraqis. They havent done anything yet. Were getting closer and closer to the enof qe. Eventually youre going to raise rates. This market story isnt just about stocks. The dollar trading near a fouryear high against a basket of currency. Thats one reason. Safety. The other reason is because were tightening and everybody else is easing. This is what is causing oil to stay where it is and the dollar to go up. Were up 3. 8 or something against the euro over the last six weeks. If you look at the yen, its up 8 since july. I was thinking yesterday, if we had money and we were able to invest, for about eight months, thats the trade. Euro dollar . Yes. I was smart enough to where if i had money and did commodities, thats one of those big trades like soros or thats where they see something thats going to last a while and its a big idea that is not going to reverse itself anytime soon. 128, if its going par 127, we were at a twoyear low yesterday at one point. 127 and its sitting right around that level. 11 weeks in a row that the dollar has made a weekly gain. That is a feat it hasnt achieved in 40 years. The greenback is near twoyear highs against the euro, against the yen. The tenyear note is back down to 2. 5. There were a lot of things that sparked the fears in the market yesterday, one of them being russia ruling the scene considering that will allow them to confiscation property. I didnt even hear about it. And that made a lot of people rush into treasuries, too. Well see the gdp number today and see what it is. But we dont feel flush. U. S. Treasury us now have the largest yield advantage over german bund thats weve seen in 15 years. And the driver here is speculation about u. S. Interest rate hikes compared to the chance of mormon tear stimulus in the eurozone. Light sweet crude is headed for a modest gains for a second straight week. Meantime, brent is on track for its second largest decline. Still hovering around that key 1200 an ounce level. Economic data is on top today coming at 8 30 a. M. Forecasters say growth is likely to be revised higher from 4. 6 to 4. 2 . Then at 9 55 a. M. , we get consumer sentiment. Take a close here at the markets and whats going on, we know this is thats the other thing, historically a dangerous time of year for stocks. Everything always happens in october, dominic. But the other thing that always happens in october is not surprisingly, if you have a big selloff, its a good entry point. But october just gives everyone the creeps. But here are some of the biggest winners and looszers from dominic chu who did his own hair this morning. I took a page out of your book, joe. You did. There were six people. I said what a pri madonna. Most people dont trust me to have control over my own hair. I would just say that its more our network here wants me to make sure i dont do my hair. The tag could be here or the seam can be there oh, you do . No. I retrofitted the rug. Im still getting that. The liberals that hate me still say i wear an ugly toupee. I dont know, ive seen your hair. It looks pretty good. Thank you. Like you said, it is a scary time during this Third Quarter when we go into the fourth quarter. Thats when things start to pick up, that santa claus rally. Yesterday we saw that big move. We talk about it at the top of the state of ohio. The doe, 264 points, the worst loss for the dow. The s p down 32 points and the nasdaq down 88. Thats a 2 drop pap big deal there for the s p, but more so for the nasdaq composite where tech stocks make up a lot of that particular index. Take a look here at the s p 500. 500 stocks in there. 486 of them were down on the day. That means it was a broad based selloff. Just about he ever stock there. Only one was flat and just 13 showed positive moves on the day. So yes, a very broad based selloff. If we dig a little deeper into some of the winners and losers here, winners, there were bright spots, right snt motorola solutions, if you can call it a bright spot, up 0. 5 . Same thing with auto nation. But the big losers here, Allegheny Technologies for one. Metals, a Specialty Metals company. Also apple. Its the most valuable company in america and is down 3. 8 . Thats one of the reasons why. As you take look at the winners and losers, we know theyve gotten their Shopping List together. But maybe, just maybe there are those who feel as though there could be maybe the beginning of something deeper. Weve only seen 4 . No, no, no. Its not october yet. No, its not october. Its not october. And we need something scary before its an entry point. I mean, to fit in with the historical i would say, though, i added a little bit to the kids College Funds yesterday. Index trade. I thought, well, maybe an opportunity. Some investors are saying there are similarities between this selloff, the circumstances, as well as what happens july 31st. Back then, we were worried about ukraine, russia, some tensions there. There was a middle east Crisis Brewing at that point, as well. It wasnt just iraq and syria. It was israel, the palestinians. Then you have the argentinians, the debt default issue. That is still on the table right now. There are concerns. A lot of these strategyist have said they are pinning this more on the idea that qe, quantitative easing, is coming off the table sometime soon and that that rate mobilization is going to happen. That is something we havent had to deal with in five years. Since euro Interest Rates have gone into full effect, weve realized nothing. Thats kind of a policy. And the next question is when the fed should be out entirely of the markets at that point. Next month is when theyll be out of the additional qe. Right. Well see how the markets stand on their own two feet. And nobody knows how theyve done it. This will be the real test of it. But remember, 666, the intra day lows. Were at 2,000 again, near 2,000. Maybe you take some profits and thats the reason why some are saying this could be that motion. As dom mentioned, the major markets are trying to recover after getting slammed. The dow, s p and nasdaq all dropping during yesterdays session. Is this the beginning of a larger down turn or end of quarter profit taking . Joining us now is paul christopher, chief international strategist. Rich steinberg is president and chief Investment Officer of steinberg global asset management. Rich, what do you think . I think we have to be careful not to well, blow this too far out of proportions. Yesterday was a bit of a skeleton day. What is a skeleton day . The skeletons are on the trading day because a lot of people are off for the holiday. You tend to have more volatility there. What weve been talking about for a while, i still think were in a trading range and investors should be using these opportunities, taking their points just like we talked about you get for your kids. I think theres a lot of that mentality on both the institutional and retail side. 1975 might have been an entry point, 1950. And we think, you know, the market settles back in at 1925. Youre going to have ups and downs here. Its a bit of a mosaic. We have all of these tiles starting to come together. But the picture isnt totally bearish. You have great earnings coming out. The big worry will be whether or not Companies Use the Dollar Strength as an excuse to bring down analyst estimates going into next year. Thats to be seen. Yeah been it was a little dicey yesterday. It was great for yesterday, but the day before was big. I think we have to the day before followed two down days of a hundred points. Absolutely. I mean, you know, but you dont save your am mow to buy after a 2 or 3 break, do you . Especially with october coming. Were going to do 10 one of these days, arent we . We havent done 10 in three years, joe. Doesnt mean that it cant happen, but you have the u. S. Economy strengthening, the dollar has a double edged southward to it. You have european markets that may come back into the u. S. Market because theyre going to get the currency at their back like weve had for years. And Interest Rates may not go um as fast when the fed starts to raise rates because Institutional Investors and Insurance Companies in europe are, again, going to get that dollar at their backs. So i think were going to be in this trading range for a while. Paul, you seem to think that even the slightest pullback is usually a buying opportunity. And that is usually true in a market thats going to you know, thats sort of in the middle innings of a bull run because it never gives anyone the opportunity to get a 10 discount on whats eventually headed higher. But the worry the worry is that a lot of this is just, you know, maybe even kind of an asset bubble or a i wont say bubble, but appreciated asset orchestrated by the fed. And if its not really theres not anything fundamental underpinning the move. But you still think there is and you should buy these dips. Yeah, we do. We think earnings growths is going to continue to be good. Were looking for 6 to 8 for this current quarters worth of earnings estimates. We think next year will be similar. As rich said, the fundamental is that the underlying economy is still good. As you pointed out, in the middle innings of this bull, youll get these opportunities to buy just as becky did yesterday. But never that much . I dont think people do buy because theyre like me. Theyre thinking, im not buying when its down 3 . Im saving my powder for when its down 10 and weve never gotten it. Thats why for three years you should have bought but its difference with the Kids College Fund is you have a limit you can put in every year. I think just buy every three months for that thing. You cant even i wouldnt even it wouldnt matter what i put in steadily, but i try to buy on days you see down a few hundred points. Its worked so far. Well, you know joe, everybody saving for their own college. Why is this your problem . You know, if were all dead at 75, what does she. I am not in camp on that. Did you see the post piece on that . No. Oh, my god. Scathing. Scathing. Sorry, rich. Go ahead. Joe, everybody wants to ring the bell when its time to make that buy at the lows. Its very hard to do that. You really investors have to have a strategy to leg their money and cash into the market here. Were going to have some spits and starts here. You have to have comfortable that at you put your cash to work, its okay if the market pulls back further. You have to know what youre going to own and whether or not the weres will be supported by strong u. S. Growth and a strong dollar. So what do you like, rich . We like the big industrials that dont have that much exposure to europe. Some of the consumer names may start to get into trouble that have 40 or 50 of overseas sales in europe. But the dividend res very high, becky. So if rates stay low, youre going to have money going into those dividend names. We just want to avoid overweight utilities because Investor Perception with rates going up with will start to affect those. We also like the health care sector. And energy is super cheap right now. You may have to wait with oil as low as it is. But we could get some spikes again in geopolitics. And you have a lot of dividends underlying those names. Paul, let me ask you, we were talking about the strong dollar and how much its moved over the last two months. Do you think that is a good trading thesis . Assume that the dollar will continue from here . Yeah, i do, into next year, sure. But not at this pace. Largely because we think people have anticipated too much fed tightening too soon. We think its going be a flat yield curve next year and the dollar may have taken much of its gains already. Paul, rich, thank you very much for talking to us today. Great talking to you. Coming up, a storm in the no, what is a storm . A storm . Oh, the storm chart. Oh, storm chart. Well, there was a storm in the dow yesterday. But it is holding on to a 2 gain for the year, which is a few sessions left in the Third Quarter, the markets are going to see perhaps some dips and some swings. First, though, the ryder cup teeing off earlier this morning. Were going to check if with our friend at the golf channel to get the early read on whats happening in the matches over there. Im not even sure we call it a leaderboard. Squawk box will be back in just a moment. Announcer before you hit the road, here is your travelers check. Today in 1973, the concord set a transatlantic flight record traveling from washington, d. C. To paris in just three hours and 32 minutes. The plane was retired in 2003. Whats next for high speed Business Jets inspect thats next after the break. O you are. Solver of the slice. Teacher of the unteachable. You lower handicaps. And raise hopes. 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. pro nice drive. vo well played, business pro. Well played. Go national. Go like a pro. Ameriprise asked people a simple question in retirement, will you have enough money to live life on your terms . I sure hope so. With healthcare costs, who knows. Umm. Everyone has retirement questions. So ameriprise created the exclusive confident retirement approach. Now you and your ameripise advisor. Can get the real answers you need. Start building your confident retirement today. Now airbus and rion will have a jet capable of flying at 1217 miles per hour. Welcome back, everybody. A storybook ending to derek jeters last game in pinstripes. Bottom of the ninth, one man on and he gets a single to drive in the gamewinning run. His family, former teammates and manager joe torre were all on hand for that last home game. The yanks do have three home games versus the red sox where jeter is expected to be the dh. Not going to be wearing pinstripes this. What a great life he has to look forward to, as well. Hes almost 40, right . Hes so young. Good for him. The ryder cup teeing off this morning. The u. S. Players taking on europes finest in this historic competition. Joining us now from scottland, steve burk on owski, reporter for the golf channel. Correct me if i am wrong, steve, i saw them nicholson had to putt about a sixinch putt in for a win. Is this can you can you tell us, is this pretty contentious so far . Well, good morning, guys. Its certainly a different type of animal we dont see very often in the game of golf. You wont see a lot of short putts concreconsidecededonceded. The ball ball matches are all on the golf course right now. The americans leading into the europeans and others. When you look at that matchup of Keegan Bradley and phil mick yolson against rory mcilroy and sergio garcia, theyre getting after it, shall we say. I play with phil been you know, its fair to do its fair to say things and to, you know, little innuendos here and there. And sergio is well known as one of the biggest stone busters . I dont know what you would call it. But there might be some behind the scenes things going on there. Ill be there on tuesday. Whats the temperature that theyre playing in today . Just give me an idea. I have to bring some long underwear. Oh, yeah, you need to pack warmly. About 54 degrees right now. Winds between 15 and 20 miles per hour. I was out on the range this morning and probably felt like low to mid 40s. This is just something different. Thousands more down both side oes of the fairway this year. Some of the strong europe support that they here in scotland. It is Something Like we dont see very often. And when you come over here, keep in mind, the americans have not won in europe since 1993. The captain of that last Victorious American team, tom watson was leading up the American Team here. You just showed derek jeter, swan song at yankees stadium. The walk off, so to speak. It was a final day charge two years ago for the europeans at medana, the americans hoping to write a storybook ending, as well, by the end of this one come sunday. We have an eightsecond delay so i have to ask you a couple of questions. Theres a homefield advantage. When they come over here, weve got some drunk, rude fans that say stuff you cant believe. So when we can over there, they start with that i hate that, that chant that they do. And we all do because they only do it when theyre winning. And the other thing, did bubba do the getting people to cheer at the top of their lungs when he teed off . Did he do that this time or was that a onetime thing . Oh, no, he did it. And bubba hit the ground with everybody yelling and screaming. A different type of atmosphere when you come over here to europe, but bubba was encouraging them to be vocal. Instead of cheering, hit it out of bounds, it would be a little different, maybe, over there. All right. Steve, when we talk to eunice yoon in china, its like a twosecond delay. With steve its like 14 seconds. So we appreciate it, steve. Theres an he did it well. Its hard to deal with that heavy of