Bond yields at zero. Yen this morning, the nikkei higher by 17 points, hang seng higher by 212 and shanghai composite by 21. 5. There you go. Back here in the u. S. , deadly pipeline explosion yesterday in shelby, alabama. One person was killed and five others injured after part of the Colonial Pipeline burst. Colonial shut down its main pipeline after the incident. This is the second time in two months hit to close the pipeline which is a crucial supplier for the east coast. In an update late last night colonial said a track hoe, a machine used to remove dirt struck the pipeline and caused the gasoline to ignite. The october ism Manufacturing Index in september and Construction Spending are due out today 10 00 a. M. Eastern time. Automakers will report their sales throughout the morning but ford wont release its sales figures. Those numbers are delayed following a fire at fords dearborn, michigan headquarters yesterday. They are now expected later in the week. The fed begins a two day policy meeting with a decision expected tomorrow 2 00 p. M. Eastern time. And as for earnings today pfizer, adm, coach, kellogg all report before the opening bell. After the close we hear from Gilead Sciences and electronic arts. Did anybody go trick or treating. I saw you on instagram with tim armstrong. Yeah. Had a big costume going. Where was that party. At thewaldorfastoria. I dont know her personally. Its a Charity Event pup buy. Did you hand out candy we were prepared so. Nobody came to the house. A long windy scary since the houses are four, five acres away frech other. No we went to dinner. We left individuals at the door at home, a couple of german shepherds. Did you leave candy at the door. Honestly no one does come. Its not that theres a neighborhood where everybody goes. We just walked in the apartment building. Can you go house house to. Up and down. Lots of candy. 16 floors of candy. Father of the year award goes to a guy, i dont know if you saw this on an airplane. He had to take his 3yearold daughter on the lean. He walks down the aisle and gives everybody candy and then she walks down the aisle. Gets the candy back. The father walks on the plane, recreates halloween. So nice. Then she got the same candy that her father gave them. They to be on the plane. It was so important. Little 3yearold had to miss. Where did they have to go that was so important . That part i dont know. I dont know the full story. Could have rescheduled things. Lots of kids in your building . No kids in my bulling. Thats why you have that building. Thats true. Stocks to watch. Bps Third Quarter profit rose 35 beating forecast as it cut costs to offset oil prices. They are maintaining its dividend. In similar vein Royal Dutch ShellThird Quarter net profit rose 18 , beating expectations. Oil giant says next year Capital Spending will be about 25 billion at the low end of the expected range. And sonys fiscal scanned quarter profit fell by more than 80 hurt by a strong yen and lagging smartphone sales. They cut its full year earnings forecast citing its battery business. New details emerging on fbis investigation of Hillary Clintons emails. Source telling cnbc news authorities are conductsing a preliminary probe into Donald Trumps former Campaign Manager, eamon javers has all of the stories this morning. Break it down for us. Reporter good morning. This is one that nbc news reported last night. We have an excerpt of their reporting. Heres what they are saying. They are saying the fbi has been conductsing a preliminary inquiry into Donald TrumpsInformation Campaign manager Paul Manaforts foreign business connections according to Law Enforcement and intelligence source, speaking to nbc news they go on to say word of inquiry which has not blossomed into a full blown criminal investigation comes days after james comeys disclosure that his agency is examining a new batch of emails in the Hillary Clinton situation. Paul manafort said theres no investigation going on by the fbi that hes aware of. Significant new development. So much attention focused on james comey in the wake of his decision last week on friday to go public with the fact that the fbi has recovered additional emails that may be relevant in that clinton probe. The fbi is now, im told, going through those emails very carefully using a Software Program to determine if any of the emails are, in fact, new. Things that they have not seen before. They examined quite a few emails in this probe but looking at this new batch that was found on huma abedin and Anthony Weiners laptop in order to determine whether theres anything there that could be relevant. The question is whether comey will address any of this between now and the election. Were sort of in unchartered territory here as one official told me. One of the things that hasnt been discussed as much but was in a wall street journal article about five or six paragraphs deep into the internal feud that the report going on that the fbi, is there now also unanimous query into the foundation as well . Reporter there seemed to be quite a number of investigations that are all around the clinton land, so to speak, the clinton universe. That wall street journal story is worth going back and rereading because it gives you a sense of the deep schisms inside Law Enforcement how to proceed. Based on my reporting theres different factions that have different thoughts about,000 handle this internally. All of that is so intense lie magazine magnified by this political season were in. The fbi doesnt comment on investigations and comey is commenting at a number of pounts along into way, initialing holding a press conference on friday, putting out this additional information. Thats not Standard Practice for the fbi. Comey clearly felt he had an obligation to do it, an obligation due to transparency. He didnt want to be in a position you could assume this would come out after the election and fbi be accused of hiding the ball. A lot of things are not done both the fbi and Justice Department not convening a grand jury typically would to be done fbi doesnt know if theres enough evidence or not. Parties dont meet on tarmacs. People dont give known the second, highest ranking fbi official for his wifes campaign. Theres so much so many undercurrents. I guess hillary just figures people continue to follow thing that closely where she said i mean giving a speech this is a staff member. I dont know if she didnt say this. Almost like was if, like she was pretending it wasnt huma abedin. This her closest aide that has not been by her side for how many years, 20 years . Every time she gets in the car shes the only one in the car. In a speech yesterday, i guess she thinks people out there in the crowd are so stupid that they dont realize. She indicated staff member. Like this generic staff member who sent a few emails. Huma abedin is about 40 years old i believe and shes been work forge Hillary Clinton since she was about 19. Closest aide. Somebody very closely associated with Hillary Clinton. Thats what you would say. One i move staffers. What else would you say . I would say why does your voice get so high . Is that the other thing in washington there really is a distinction between principles and staff and thats like a very clear class line, so to speak, is that rarely crossed in d. C. So we know huma abedin, we know anthony westeineweiner, they ca smoking gun and wikileaks. We know where it came from. I dont know one of my Staff Members had some emails. And the entire world has stein daily news and New York Post headlines. Even in the uk they got reporter starting now, joe, theres two possibilities. One is they go through these emails, they use the Software Program ive been describing and determine theres nothing here that they havent seen before. In that case what does james comey do before the election. Other possibility they determine theres some new everyone males. Could be the 33,000. All the stuff that was bleached, whatever, that program, that could be there. Stuff that was destroyed. Stuff that was in the laptops that were hit with a sledge hammer or 12 phones that were lost could be in there. Could be anything. Reporter we dont know. We just dont know. What comey has to do today is figure out what hell do in first scenario and what hell do in the second scenario. Does come out and publicly say nothing to see here folks move on with election or does come out and publicly say we found some evidence and how does he describe that evidence. Depending on what is it that could be very tricky for him to do. This is all very tricky for him to do. Hes under enormous scrutiny right now. My point about bringing up the possible investigation of the Clinton Foundation even if that all gets done before election, then theres this other thing out there that potentially is an overhang if she becomes president. Reporter absolutely. You can imagine republicans on capitol hill particularly if they keep control of congress which is sort of where things seem to be head but this is an unclear Election Year those republicans in the home will definitely launch investigations into Hillary Clinton, the foundation, thele scandal herself over the years. This will not end on tuesday next week. Were going to see continued reporting anthony. Well see continued investigations into this. And its going make it very, very difficult if Hillary Clinton wins the presidency next week very difficult for theory have any kind of honeymoon period where legislation can pass and typical things in washington happen. Is it really i wonder if it is a black box. The original guys that were looking there, looking for sexting to a 15yearold all of a sudden came across was it a month ago, two, three weeks ago. So i wonder did they immediately avert their eyes and didnt look at anything else or did they look through a bunch of stuff and go holy crap. Thats what i wonder. No knowledge of forethought. Or we have no idea. Reporter what im told is they did not have a warrant that allowed them to look at those emails. The mandate was only to look at weiner. They were allowed to look at the weiner stuff. But they would have come across the other stuff. I just wonder if there was a couple reporter in order to examine that material im told they need a separate warrant which they got over the weekend. They are looking for a couple of things. One is the indication these emails came from Hillary Clintons private serve and two they want to look at the time frame that narrows it down because these emails go back year and years. They want to go look at the emails in the relevant time and know what they are looking at. It could be that he already felt bad because he got hammered for not doing something in july, so this gave him a drredo. Could be they saw a couple of things and said director comey this is blockbuster stuff. I dont know which it is. Reporter thats why this is a perplexing development. New york times is calling him j. Edgar hoover. I like where they say fairly or not but still put it on the front page. Fair or not but were still going with that. Thank you, eamon javers. Back to the markets. Fed gets set to kick off a two day policy meeting today joining us now is matt toms and rich steinberg. Do either one of you gentlemen think that the stock market is reacting to who it thinks will win the election because it cant get out of its own way. Most people think its i dont know 90 think Hillary Clinton. Why are we going up if the market wants Hillary Clinton. Why is it going up . Its going to remain stuck in the mud for a while because we really have to determine who is going to be in the white house, if the democrats take the senate and what the balance of power looks like. The consensus, you know, thinks that well have gridlock for a while adding to your comments earlier with eamon javers, well be challenging confidence in the short run and well have to tread water until earnings starts to come through. Once we get past the election and the fed meeting in december we can focus again on what drives markets which is Economic Growth and earnings. So i would think the market would like gridlock and thats what gridlock for eight years and doubled or whatever, matt, right . Is it the fed . What is it. Constitutent election faend . Did the dollar get Strong Center thats the trinity that you mentioned. We think the u. S. Consumer you call it a trinity. Thats right. The consumer we think doesnt like the uncertainty of the election and we like the election to get out of the way and can you have a bounce in confidence and thats potentially under estimated in the markets here. If you had your druthers what would set us up for a sustained advance that we havent had. We were here two years ago and we havent gotten much traction. What would it be . Set up the goldilocks scenario. The dollar comes down even though the fed raises rates, hillary gets elected, the senate falls but the house stays the same. I think the Global Factors are the most important there, joe. The dollar with a fed thats hiking but doing so in a measured and slow fashion can weaken and most important indicators were seeing are reengagements of global growth. That could allow the dollar to weaken. Could buoy knot prices. And give the fed a nice path of gradual hikes starting in december. So, all right. If that happens, rich, your get out of dividend yields now. Go into cyclical stocks . What do you suspect on friday. Will it show were adding a lot of jobs and gdp is at people are saying wow its 3 . Were rip roaring. Were expecting consensus of 165,000 jobs, joe, with unemployment just under 5 . I think that sets the fed up to be able to raise quarter of a point in december. More importantly, though, if we look at earnings since september 30th, with 2017 earnings have come down from 13 growth to 12 growth. Thats still a little bit too high. The goldilocks scenario will be that Interest Rates dont go up too fast and do you get this double digit eps growth which would set up the market for greater gains. Theres one other part, you know, were pretty heavy in cash and we meet with a lot of High Net Worth clients who are extremely nervous and skittish about the market. We could be creating a compressed spring of that cash to be redeployed once the election is over. We just may be barred from borrowing from forte pay paul if the market goes up in december unless earnings comes through for next year. What if half the country after this election are sick to their stomach and we stay at 70 , think were going in the wrong direction. Will that matter . Will consumers need confidence and do people need to feel good about their prospects, matt, or can we muddle along. We did find at zero Interest Rates in the fast five years without doing too well. The uncertainty is the dlee. Get the uncertainty out of the way. Its a stalemate in government thats good enough. The uncertainty sits either donald trump or Hillary Clinton. That leaves 50 of the people unhappy. Or more. Thats right. At least youll have some chance at a policy other than Monetary Policy led. So Monetary Policy carries the day. Time for government reengage. One or the other will disappoint half. But theres a chance of policy coming out of washington. First four years of obama it was, the next four years all we want Mitch Mcconnell well make sure hes a one termer. Same thing. Youll hear that from eritrea side they will try to be struck and make it impossible for the person that gets in. I dont know. Its not a very maybe it doesnt matter. Not a positive political environment. Thank you. Thank you both. Well talk china when we come back and talk jay leno. The one he told me back wargds worked but it wont happen. Thats cruel. You cant tell the audience. Well have jay leno. Well talk about yum brands. The Company Facing a changing consumer taste and new category of competition in china. And then mr. Leno will join us on set in just a little bit. And can you explain to me why you recommend synthetic over cedar . Super food . Is that a real thing . Its a great school, but is it the right the one for her . Is this really any better than the one you got last year . If we consolidate suppliers whats the savings there . So should we go with the 467 horsepower . Or is a 423 enough . Good question. You ask a lot of good questions. I think we should move you into our new fund. Ok. Sure. But are you asking enough about how your wealth is managed . Wealth management, at charles schwab. Were opening more Xfinity Stores closer to you. Visit us today and learn how to get the most out of all your services, like xfinity x1. Well put the power in your hands, so you can see how x1 is changing the way you experience tv with features like voice remote, making it easier and more fun than ever. Theres more in store than you imagine. Visit an xfinity store today and see for yourself. Xfinity, the future of awesome. Yum brands officially spinning off its China Business today the Company Facing big challenges in china. Reporter thanks so much, andrew. Yum brand is celebrating over to new york listing and well under way. The china ceo is here along with t