Forecasters predict the economy grew at a rate of 3. 1 . On the Economic Calendar today, weve got weakly jobless claims coming out. And well hear lots of names before the bell including conco philips, mastercard. The bulls looking to bounce back today. You can see this morning, there are some modest declines at this point. Dow futures down by about 6. 5 points below fair value. S p futures off by over 8 points and the nasdaq down by over 8 points. If youve been watching early trade in europe, you will see some biggest declines there, as well. And the major markets in asia ending mixed. The nikkei was up by just over 0. 6 . Hang seng down by 0. 5 . Shanghai higher about 0. 735 . While were talking markets, a number of stocks that are on the move this morning, visa posting better than expected results. Theyre saying mobile payments will be a great driver for the business. So theyre not worried about walmart and the other folks starting up their own. The Company Announced a 5 billion Share Buyback program. We should tell you about kraft foods reporting an 1 11 drop i prices. And in tech news, and i dont know if this is going to end up impacting the life of the alibabas in the future, but baidu falling short of estimates. The chinese Search Engine says it will continue to invest in its mobile business. Dreamworks posted a bigger than expected gain in profits led by how to drain your dragon 2. Have you trained your dragon . I actually have to the first time we go to break. And then its only 6 02 in the morning. I didnt bring it up. Youre the one reading it. I tell to talk to you about the New York Times. On the call, we should tell you dont you drink coffee every morning . I do. The ceo did not address rumors that the studio might be sold. Lots reported there. Then take2 interactive is rating its interaction forecast. Strong sales of grand theft auto. Down you think the moviemakers, that was a play on words . Train your dragon . Yeah. Probably, yeah. And were going to get to equities. Lets get back to the royalties. The New York Times is totally on board with this. And right here, a picture all about bumgardner. Youve got to bone think this was . This was a way to keep netanyahu off the front page of the New York Times. Its like what can we do . Its actually on page 8. My question is whether go ahead. I was having badminton lessons again and i didnt know. I can see they call him a court when the actual word we need to decide, because ive seen it in print and ive seen it not in print. Now, when we want to say the word, we talk about the dog, the shih tzu, right . Yes. They called a chicken shih tzu, basically. What do we do today . Do with use that word or do people know i think youve made it abuntdly clear. My favorite thing that has been left out of all this is its bad enough to do that, obviously. Israel is maybe one of our best allies. But in the piece it says the Obama Administration, out of all the world leaders, theyve been most frustrated with, its been netanya netanyahu. So not the guy in iran, mott the eye to ayatollah. Not putin. Its obamobama. Can we put this in context . The person that theyre the most frustrated with that theyre supposed to have good relations with. How about that . And because of pressure from us with a bleep so you could say the word but but the other thing they said is because of pressure from us, and because he was a court, he didnt attack iran and now its too late because theyve got the bomb. Almost happy that they were able to talk him out of it so that iran ended up with it. Do you understand what this is not my idea of a good october surprise for you guys. I thought it was supposed to be the other kind. I dont think this was this was not the idea of how to swing the election in their favor. What do you think you guys smp. The New York Times. The senator and i, were going to be all over you like white on rice. Were all going to that island together. Were getting along great. Becky mentioned equities now. Lets take a look at the broader markets this morning. Well take a look at oil after yesterday when the dollar was strengthening. Wti is just 81. 54. The tenyear, has it finally bottomed . Are we finally headed back to 3 . Some people think so. That was a big capitulation day. The dollar, a good time to if we dont end up on that island, lets go to lets go to an island in greece, maybe, or somewhere where there are hoteles and stuff. What do you think . If we dont end up on a deserted island. If its 1. 25 right now . I love san tu rini. Beautiful, white buildings and and we can stop on our way. We can go to all those places. Take a quick look at dpoeld. Gold is now 1205. And that makes sense, too, given that its finally over, this long, national nightmare, which some people would say. Qe infinity. For now. Its over for now. Right. But the arrow is still in the quiver if we need it. Forever, probably. Probably. Its a new way to deal with things. Zero, what else have you got . They had to go under zero. Some countries have tried that. Yes. Very briefly, the treasury yield, you were actually paying them to hold on to your money for you. Right. Stokes stutter stepped into the close after the fed snapped up its bond buying program. A handful of other key catalysts could look at First Quarter gdp. Joining us right now to weigh in on the markets is karen firestone. Also serat stefy. Welcome to both of you. Why dont we start off with the New York Times, the headline on this. Serat, the fed says it no longer needs to spend millions to bolster the economy. Is that the case . I think the data, pass theyve kept on talking, is going to show us exactly where theyre looking. Perils are going to get better. Commodities are coming down. I think the fed wanted to finally say we dont have to be here completely. Let fundamentals matter. Thats going to be the key for the next three to six pose. If we get earnings, get big, stronger, payroll, housing stronger, i think you can take and wean yourself off of that. Were pretty bullish. We think longer term the market are going to rides from here given that our economy is stronger than the rest of the world at this point. Karen, do you believe that the fed put it off . That at this point its make or break . I feel the fed clearly explained what they were going to do months ago about cutting this program back by the end of october. Now that theyve done it, now that were seeing earnings are coming and well over 50 of companies have reported earnings. Twothirds of them have been above expectation, an average of 4 above expectations. 9 higher earnings. And so weve seen that the market touched down 10 below its peak. It rallied off that level, back up 9 from that point up over 7 for the year. So i think that theres support. Buyers are coming into this market because this is a good market to own right now. And we think that will continue with Earnings Growth and labor improving. So do you think joe asked the question just a moment ago have we seen the bottom in terms of yields on the ten year . I think that we have, but i think that the increase will be slow. Weve been at incredibly low levels on the Interest Rate side. So an increase might be something to talk about. The next question, when will we move off zero Interest Rates . Were calling this a hawkish move. You get there by june or july of next year . I dont think so. I think you have to look at the difference between our rates and the rest of the world. If we move faster than the rest of the world, that would cause a huge amount of dislocation in the capital markets. Capital will flow here much faster. Were so coupled right now in terms of our companies in the united states, you know, working overseas, making money, and if you see Interest Rates moving higher here, commodity costs are going to get volatile. Do you think the fed considers that and says, wait a second, its not just that we have to worry about inflation. We now have to were about other economies and whether we mess things up by making the dollar stronger, messing up their economies and making this the i dont think they will formally say it, but i think in the back of their minds you have to look at it because if we destroy other economies or we put other global economies, talking about germany or japan, etcetera, thats going to have a big effect on the Global Markets. Companies then look at decisions globally. They dont just look at whats going to happen just in north america. I think slowly youll find you dont want that huge disparity wsh but if europe and occasion asia can get back to some normalcy, youll see rates moving faster than the rest of the world. How do you play this . For a long time, weve been talking, theres nowhere else to go, essentially. Theres no alternative except for the u. S. Stocks. Is that still the case or is this more complicated . Oh, i think its more complicated in that we experienced two weeks ago a period of panic. So the markets became very jittery and, in fact, we were talking about how far the market could be below zero two weeks ago or how quickly we would all get ebola. And, you know, the tone of the market can change so facht on the up side and on the down side. Its important you see stability and support to those earnings. Some of the names that you like . Constellation brands where theyre deleveraging, they made acquisitiones and theyre showing margin improvement. Beer and wine are strong growing categories for them. We like lewis allen hamilton. Its a contractor, but does i. T. Software for the government and the defense and security area. We like sealed air, which is pure of safety, which is important. And they showed a really Strong Quarter yesterday. Se where arat, karen just me some of those concerns. Those headlines arent going away. How do you try and factor any of those into your models or do you . You do, but there is more noise in the system. I think there are more opportunities when the market does pullback. Emotion is driving a lot of this market. You can see it. Its been two different markets. When things are good, everybody wants to come in. And the momentum stocks do really well. For us, we think given commodities have been coming down and consumers are coming book market, you want to be in the discretionary and the transport space at least for the next few months. Thats really where youre going to get top line growth. I want to thank you both for coming in today. Thank you very much. Lets see whats going on with apple. This is interesting. Its reportedly now in talks to sell its iphone in iran. Senior execs at the firm are said to have met with potential iranian distributors. It is not easy for a western company to move into iran because sanctions there are the biggest issues. The decision in my head has been made, but you know i dont like to make decisions. Waiting for the last day. In other global news, fighter jets interseptembering Russian Military aircraft. The russian aircraft are said to have conducted significant military maneuvers near nato and european air space in the last day or so. Last week, a russian spy plane violated nato air space for the First Time Since the end of the cold war. Weve intercepted them a hundred times or something in the last year or month, three times what it was in the previous period. So theres been a lot of testing. Exactly. Like would happen in top gun. Remember . Yes. Some of those migs went too far. Exactly. Coming up, Chris Christie has had it. You want to have the conversation later, im happy to have it, buddy. But until that time, sit down and shut up. Find out what got the new jersey governor so angry during the twoyear anniversary on sandy. And later, ted cruz will be our special guest in studio. More squawk box after this quick break. 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. That is a live shot of san francisco. Some of the streets of san francisco. One of the bridges of san francisco. Right. Michael douglas. Welcome back to squawk box, everybody. New jersey governor Chris Christie holding a News Conference on the twoyear anniversary of hurricane sandy. A heckler interrupted his speech several times. Here is how the governor responded. Ill be more than happy to have a debate with you anytime you like, guy. Somebody like you doesnt know exactly what youre talking about except to show up and show off when the cam ares here. Ive been here when the cameras arent here. And done the work. If you want to have the conversation, im happy to have it, buddy. Billion until that time, sit down and shut up. This was a selfproclaimed gentler Chris Christie. Hes back. This is what we used to know him for. Hes been known in the past for taking people down who try to go after him on stage. Hes back. Do you know what the heck got him upset . Aid was slow. He kept interrupting. You know, when christie was 70 , 80 approval, that was a lot of that was based on youtube shots of the similar thing. I dont know whether it was calculated. I dont know whether hes now viewed differently because of what happened in the past year in terms of, you know, people tried to paint him as a bully. I dont know the thats taken post. But the people who were there cheered and took it positively. I take it positively. I just wonder how it plays on a grander scale. If youre talking about 2016 all of a sudden, and i dont know the answer to that. Right. I think the jury is out on it. 2016, its very interesting because of 2014. I dont know whether its the internet or time contraction or what. But every two years, we decide, god, the party that we have now, theyre the worst. We have to go to the other one. Two years later, really, its been every two years now. We hit 2008 and 2010, 2014. And then you wonder how the gop, if it does make gains on tuesday, you wonder how what that means for setting up 2016. And were talking about another thing well talk to ted cruz about. I want everyones opinion on this next story. Really . Yes. Mine, too . Your especially, joe. Okay. We need to start getting all these things you know, we have to come together on a lot of things. Just the two of us. We can debate this one for a very long time. I want to see what both of you have to say. The u. S. Equal Employment Opportunity commission is now suing honeywell. The Government Agency wants the company to keep imposing penalties on employees who refuse to undergo testing under a Corporate Wellness program. Employees could be personalized up to 4,000 each if they dont take part in a biometric testing program. How does everybody feel . Im good. If universal says everybody here has to take part what the private sector doesnt going after them. Youre okay if the government and yeah, im okay with the government going after them. No, i think honeywell should do that. Care programs with a good idea, but my own point is that versus the government deciding how to i think its an employer has more of a right to be concerned, especially if theyre involved with my health care. If theyre involved with id like to keep it that way where theyre you know, where the private sector i always talk about the job owned spy wear. What happened if Nbc Universal comcast says to you, you have to wear one of these all the time because we want to make sure youre doing exercise and if youre not doing exercise, we are going so charge you more for your insurance . Obviously, you would chafe at that. People talk about this being the future. That corporation res going to look into and youre leading the way. Im on board. I like it, anyway. But im not sharing this information at the moment with i think its an invasion of privacy. You would have to rank a priority. We all like individual freedom and personal sri come. I would let my employer dictate what makes sense for me to be able to keep my job quicker than id let the government. Its an invasion of personal privacy. You dont have to do it if you dont like, but were not going to pay it any mr. I dont want to make me eat broccoli sprout, but you have a right to have privacy. Again, i think these programs work if they are care programs, not maybe auyou get a discount. Solve the world problems. What would we do without the carrot stick metaphor . It could take forever what were trying to say. Its good shorthanded work and well come up with that solution for now. Thank you for that, we are all row boats just working for the man. No problem. Up next, a fresh read on what the consumer is doing. Kate rogers will be along with that story. Plus, tech in the toilet. This is not a report on struggling stocks. All was all about flushing br a look at yesterdays stocks. Tdd 18003452550 [ male announcer ] your love for trading never stops, tdd 18003452550 even on the go. Tdd 18003452550 open a schwab account, and you could earn tdd 18003452550 300 commissionfree online trades. Tdd 18003452550 so if you get a trade idea, schwab can help you take it on. 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