Scandal. After a three hour marathon debate Carly Fiorina breaks away from the pack as she goes head to head with republican rival donald trump calling him out on his comments over her looks. I think women all over this country heard very clearly what mr. Trump said. Coming up on the show, a powerful earthquake shakes chile. We watch for after shocks as 1 Million People are forced to flee their homes. Why did the firm take such a big gamble on shale . Oracle sinks on disappointing sales and currency head winds but are there any bright spots . Lets check in on u. S. Futures and what theyre indicating and the s p 500. Declines being priced in of close to 2 points down. The Dow Jones Industrial flat and the nasdaq were looking at indications for a higher start of around 4 points or so and really everyone is hanging around waiting on the sidelines to see what janet yellen and the Federal Reserve will be doing. Lets check in on the u. S. Yield curve because we did have some movement when it comes to the yield curve on the short end and also the long end of the curve. Highly sensitive of course. We do have the yields boost up to their highest since april 2011 so were looking at a 4. 5 year high for the two year treasury yields. 10 year note also moving up as well. We had the 10 year note telling us up even inching closer now to 2. 3 . And also a boost up 33 . We have the bond king joining us later on. He likes u. S. Treasury bonds now better than a month ago. He tells reuters that this is because yield versus moved higher in recent weeks. Hell be on fast money Halftime Report today in a exclusive cnbc interview which comes your way, 12 30 p. M. Eastern time. Lets take a closer look at this fed Rate Decision. Will they or wont they . Heading into that vote later on today theres a dovish slant around the fomc table. The only hawk is jeffrey lacquer. Stanley fisher, Dennis Lockhart and jon williams as well. In the dovish camp, janet yellen, William Dudly and charles evans. Cnbc has been speaking to the Federal Reserve president s and their views on Monetary Policy. My preference is that we dont have the most telegraphed decisions as in 2004. Data dependence is what we should be doing. From my perspective at this moment the decision to begin the normalization process at the September Fomc meeting less compelling than a few weeks ago. I have been talking about the normalization of rates for sometime. This weeks events complicate the picture but i think its too soon to say it fundamentally changes that picture. The economy is returning to normal. Were not sure were there yet. Were ahead of the fed decision. Xetra dax just a touch higher but a little bit of weakness elsewhere. Big deal in the cable space with altice and friends buying cablevision. Asian markets were in rally mode ahead of the fed. Nikkei up, shanghai down. All eyes on the fed and that also applies to commodities. Were seeing wti and brent crude pulling back from yesterdays very elevated levels. 4945 for brent crude. Yesterday we saw the 6 spike in crude on the back of the eia data showing the largest draw down since february 13. Lets move on and talk more about the fed raising rate nous would be a mistake. Thats the warning from Deutsche Bank which sees equities corrections by 5 to 8 when they start hiking. They prefer european to u. S. Stocks when normalization continues. Particularly banks, utilities and insurance. Lets talk more. Thank you for joining us. We had volatility in equity markets recently and were approaching the fed decision. Are those two factors linked . Well, absolutely. I think the fed has to be thinking about whats happened in the equity markets recently and starting to think really about this global slow down that were seeing in terms of Economic Growth and the concern is the slow down and decline in the u. S. Economy. Our basic view is the fed is heading into this decision very cautiously. But should they be taking note of global volatility in equity markets or should they ignore that . No, i think the volatility abroad outside of the United States is whats happening in places like china and other emerging markets and the fed is paying close attention to that as well. Our basic view is the fed is coming into this decision thinking about the possibility here of taking at least another month to correct data points before they consider raising rates. Theyre going to hike rates at some point this year. Possibly in december. Looking at the president and the old cycles stocks usually fall about 7 when they make that move in the two months following. Is that going to happen this time around . Well, i wouldnt be surprised. When we look at certainly the u. S. Bank stock, we have had obviously a massive run here with a relatively modest pull back more recently so its not outside of the realm of possibilities to see a some kind of minor correction over the past couple of months. We focus on the fun in the Financial Service sector and banks in particular which are levered to rising Interest Rates. It will be interesting to see how that sector performs. And thats going to be positive for that space but for the broader u. S. Equity market theres more down side risk than upside potential at this point. It isnt possible to gauge the Market Reaction because its been nine years since weve seen the last hike. Many traders havent even traded an environment with a tightening cycle. Do you think everyone is staying on the sidelines . There is a little bit more complexity relating to even small increases in the fed funds rate so one of the things we think about here is this issue of are we going to see a small increase and then nothing . The bigger question in my mind isnt whether or not were going to get an increase this year. The bigger question is what are we going to see in the first half of next year . A lot of folks are thinking one and done. Thats not going to be significant enough to really move the market in a big way. Certainly not higher. Thank you for your time. Chief Investment Officer at blue stones financials institutions fund. Cnbc will bring you the decision and the press Conference Live at 2 00 p. M. Eastern time. A massive earthquake struck chlie. At least five people are dead and tsunami waves caused flooding in some towns. It was felt in argentina on the other side of the continent. Tsunami advisories are issued for hawaii and southern and Central California meaning dangerous currencies could pose a threat for anyone at or near the water. Next, still to come, selling high. Well give you all the details of the blockbuster cablevision sale right after this short break. Opportunities arent always obvious. Sometimes they just drop in. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. I was going to the library to do my homework. It was a little bit of a walk to get to the bus stop. I had to wait in line to use the computer. Took a lot of juggling to keep it all together. Whats possible when you have highSpeed Internet at home . The Library Never closes. It makes it so much better to do homework when youre at home. Internet essentials from comcast. Helping to bridge the digital divide. European cable tv group altice making another big push. They agreed to buy up cablevision for 17. 7 billion and this deal includes a lot of debt. This move has also long been rumored. Altice is controlled by the french telecoms mobile. Hell pay 34. 90 a piece which is a 22 premium to the Closing Price on wednesday. This deal will create a number four u. S. Cable provider and take a look at the share price. Cablevision up 19 . Altice also gaining. Not as much as we saw an hour ago but altice they have been aggressive in going out to increase their market share in the u. S. And also paying 23. That was a huge deal last year and what was so specific about that deal is that it was the biggest junk offering ever. So they pulled that off without a hitch at all but you have to wonder to what extent they could repeat that given that rates are rising. I had a discussion with the ceo two or three weeks ago and i asked him about leverage going forward. Some of the rating agencies are becoming more concerned about the leverage. He said its not a problem for us at all. So really interesting to see that renewed deal. Absolutely. I think so much consolidation in u. S. Cable and fix line but across the Telecom Space with the mobile in europe and lots of mooted deals and some of them involve content makers and Television Companies and its all about getting bigger in that space now. Lost no Carter Communications in trying to buy up the rest of time warner cable. They have a lot of money at stake, don they . They do, indeed. Its not the only merger story today. Lets have a look at some of the other big m a news. Australian regulators have thrown shales acquisition of bg group in doubt. The watchdog has concerns that the deal that would be the Energy Sectors biggest takeover in more than a decade could harm consumers by limiting the supply of gas to the domestic market and increasing prices. As a result its delays a final at the situation on the bid until november. Shell is hoping to complete the deal by the First Quarter of next year. The u. S. Justice department wont challenge expedias purchase of orbitz. The agency says the deal wont harm competition and theres no evidence it will result in new charges being imposed on consumers. It will leave them in control of most of the third party travel websites in the umt. S. Apple bought mapsense. It was founded by a former engineer at one of silicon valleys most valuable private companies. It will allow them to get a huge amount of information created by smartphones, connected cars and other web enabled devices. It has been used to map credit card fraud and even building dimensions. Lets have a look at price action in apple so far in german trade today up one quarter of a percent. As we head into break, here are your headlines this morning. U. S. Futures are mixed as the clock ticks down to a fed decision. Former hp ceo Carly Fiorina seizes the spotlight in the second Republican Debate and altice swoops in on cablevision in a 17. 7 billion deal. The top 11 republican president ial candidates squared off in their second debate at the Ronald Reagan library. The gop hopefuls discussing a range of topics as well as Campaign Funding and special interests. Jeb bush hitting back at donald trump over claims his policies are influenced by donors. The one guy that had some special interests that i know of that tried to get me to change my views on something that was generous and gave me money was donald trump. He wanted casino gambling in florida. Yes you did. You wanted it and you didnt get it. I was opposed to casino gambling, before, during and after. I promise, if i wanted it, i would have gotten it. Not even possible. I know my people. Trump and former hp ceo Carly Fiorina were involved in the most talked about moment of the night when fiorina was asked to respond to comments the media mogul made about her face. Its interesting to me mr. Trump said that he heard mr. Bush very clearly and what mr. Bush said. I think women all over this country heard very clearly what mr. Trump said. [ applause ] i think shes got a beautiful face and i think shes a beautiful woman. But theres one light hearted moment of unity when bush referencing trumps previous comments that he lacked energy revealed his preferred secret service code name. Ever ready, its very high energy, donald. Okay. Lets talk about the gop debate and joining us now we have former White House Deputy press secretary live from washington d. C. Hi. Former director of the Republican National committee joining us from boston. So your boy picking up the energy last night. Youre a bush supporter but the night a lot of people agree belonged to Carly Fiorina. It really did. Everyone knew she was going to have the opportunity to response to trumps comments about her in the Rolling Stone article and really she nailed it. She had a good performance all the way around in what was not just a very big debate in term of the number of candidates but a very long debate. Nearly a 3 hour debate and thats difficult for a lot of candidates to stay on top of their rhetoric and the opportunities that will come to them over that period. She did well in a range of topics and youll see that reflected after the debate. What about the trump show . People expect the antics and entertainment and his poll numbers boosted up after the first Republican Debate. What about this time around. I think well see them plateau or decrease a little bit. We saw candidates laying gloves on trump for the first time. Weve seen them take shots at trump but its been the same kind of name calling he revels in. We also saw jeb bush be aggressive on him and other candidates be aggressive on him and when asked about specific policy proposals we saw that trump didnt have a lot of answers. Not only does the emperor not have any clothes but he doesnt have any answers either. We briefly touched on trump, fiorina and bush. Outside of those three, who did the best for you after that . I thought rubio. He could have used a lot more camera time and more attention from the moderators but i thought he made the most of the opportunities that he had. He continues to be fairly detailed in his responses. Trumps answer to a lot of questions was to say ill hire great people and that will take care of it. The other candidates and rubio in particular did a good job of speaking very detailed and with passion about actual issues. I thought rubio did really well. Carson continues to do his thing which is to be very calm and measured in his responses. They seem to like that from him. Doug, question for you but essentially for both of you. Also for tony. To what extent will Hillary Clinton be more worried about the debate yesterday . First she said shes not going to watch it and then she live tweeted during it. What is she going to be worried about here . She was against the debate before she was for the debate. If im Hillary Clinton and im in her campaign what im nervous about is seeing republican candidates really connect on issues whether its Carly Fiorina, marco rubio, jeb bush, what they did well was not only go on the attack against trump but they connected on the issues and connected with specifics. Thats something lacking thus far as we get in the post labor day period it tends to be when voters focus more on issues and thats what some of the candidates addressed well last night and if im the Hilary Campaign thats part of what makes me nervous. Tony. Yeah, se has some time before she has to really worry about it but she feels like she should be focussing on her issues right now but she has a lot of selfinflicted wounds shes dealing with. The email issue continues to plague her and the rise of bernie sanders. So she has bigger concerns than the Republican Debate but she is missing the opportunity to respond to some of the republican attacks. Doug, tony, one more question for you. Id say very quickly that one go ahead, you can finish your thought. One thing that Hillary Clinton does have going for her is republican versus spent so much time fighting with each other, so much time on the donald trump side show that, in fact, our candidates who would normally go after Hillary Clinton nonstop in a debate like this are really going after each other instead of focussing their attacks where they belong which is on Hillary Clinton and the obama administration. Something that Carly Fiorina and marco rubio did well last night. All right. The republican nomination, who is it going to be . Fiorina with a strong hand. Is she going to somehow become the obama this year . I think we need some candidates actually to drop out of this race before we see any people really come through. Candidates like huckabee. Its hard to see whether walker can stay in the race much longer. We need to get the numbers smaller, first. Doug, quickly. Yeah, were so far out. The iowa caucus is six months away. It doesnt tell us who the nominee is but scott walker has to figure out a course correction or his problem is one thats exitential. Thank you for your time. Its only going to get more interesting from here. Moms know their familys mouths often need a helping hand. After brushing, listerine® total care helps prevent cavities, strengthens teeth and restores tooth enamel. Its an easy way to give listerine® total care to the total family. Listerine® total care. One bottle, six benefits. Power to your mouth™. And for kids starting at age six, listerine® smart rinse delivers extra cavity protection after brushing. Without the internet i would probably be like a c student. Internet essentials from comcast has brought lowcost high Speed Internet into the homes of hundreds of thousands of lowincome families. It lets students do homework and study at home. So far more than two