Slamming them. Boeing solid cash flow. They boost the Quarterly Dividend by 20 and approves a 14 billion stock buy back. Lets get you breaking news on Economic Sentiment there. Were getting an economic expectation at 16. 1 for december. Thats compared to 10. 4 in november and higher than expectatio expectations. 55 on the month and also above expectations for a 54 reading. Confidence is growing that the German Economy will prove itself robust as well. Were seeing a strong rally across the european markets bouncing back after yesterdays weak day. The ftse 100 up by 1. 64 . Up by more than 3. 32 . We saw the sharp falls falling to 2. 5 month lows in part because the volatility in the oil space also up. Company specific news is driving us higher today. Also whats happening on the currency front, euro dollar is at a seven week high. 11028 up by a third of 1 this morning. It really has to do with the dollar side of the equation because obviously were expecting the first rate hike by the fed in about a decade or so tomorrow. 76 is what the market is pricing in right now but obviously a lot of the dollar positions have been liquidated ahead of the first rate hike. Quick check of u. S. Futures too. A higher start to the trading session. Dow jones seen higher. Triple digits now by 109. 5 points and the nasdaq expected to pop by roughly 33 points and yesterday we did see a turn around for the u. S. Markets and thats after a lot of choppy trading and a lot of volatility in the oil space. Pretty remarkable moves given that we did see them down earlier on in the session but so much sentiment here. Now more of a caution position ahead of the fed decision and also next week volume was particularly high. In fact, it was the biggest volume day in almost three months. That was with 4. 6 billion shares traded on the New York Stock Exchange as investors are positioning themselves ahead of one of the biggest marketing events of the year but its the countdown to the feds Rate Decision is getting underway as we start day one of the fomc meeting and steve has had exclusive results from the cnbc fed survey of some of the nations top economists, market strategists and money managers. Well get a new federal Market Committee next year and is it more hawkish or dovish than the current one . We asked members of our cnbc fed survey take a look at where they graded them. They all come in as you move this way you get jon williams and powell on the board of governors. And janet yellen, the chair of the fomc comes in at 3. 7. Bill dudly and then the most dovish member, Charlie Evans, chicago fed president comes in at 2. 3. Got to come all the way over here. You get jeff lacker, comes in at 7. 8 but when you take the wide view and look at it you can see the board skews this way and heres the new board that comes in over here. He goes away but they are all thought to be on the hawkish side and come in in the center. Lockhart and williams go away and Charlie Evans goes away we placed by the boston fed president. Bottom line is its an fomc that skews more hawkish. The index value was 4. 3. Up to 4. 7. Still on the dovish side of the 50 line but its a more hawkish fed that may be more inclined to raise rates next year. Back to you guys. Joining us live from philadelphia is the chief Investment Officer. Good morning to you, bob. Thank you for getting up early for us. How badly would the market take it if the fed didnt go ahead and hike rates tomorrow . The street would be surprised if they didnt. I for one would not be surprised. The odds are as you point out 79 . I have for six months basically seen no justification, economic justification for a fed tightening. Were at basically 2 gdp growth and no inflation. I think the fed boxed itself into a corner by a lot of talking. With former governors and current governors. And i think its going to happen more than likely. But i think the impact of it is going to be nominal. Sure. And frankly, even moving forward into 16. I dont see Interest Rates going up. In anyway. I think theres opportunities in the bond market and the bond market is not dead. But just how dovish is the fed going to be going into 2016. Because as we heard from steve, the fed competition could be more hawkish. Do you think people might be surprised negatively if theyre positioning for a very dovish fed membership . Well, you know, i come from a school that says were data dependent and dove or not dove, to me it doesnt matter. What matters is the numbers and do they justify further tightenings . And janet yellen herself has argued that the first move is kind of meaningless. What you need to look at is the trajectory. And thats very difficult. Because none of us have a crystal ball. And i think that we can get way ahead of ourselves here. I think what were going to see is assuming they tighten i think what were going so see is a repeat of the last few months. Whether were going to do it again and who is dove or not dove. The data will define the marketplace and i do not believe that the data supports at this point in time at least i mean, the fed is basically putting all of its models on wage pressures developing and causing inflation to move up. What else is there. Weve had the growth for four or five years. I expect that to continue. Do wage pressures develop . Yeah, maybe they do. But remember the united states, im not calling for a recession here. But its not been in a recession since 09 and were out over six years and if you go back to the early 20th century up until 1990. Im not calling for a recession. But investors need to understand that that is a possibility. And they need to watch economic growth. We have known the first rate hike will come for quite sometime. Its come from this dramatic drop off in oil prices. How is that going to play out at the same time and causing more concerns about the inflation target . Are you talking about inflation possibly coming back up. As soon as oil has a recovery. Yes. Frankly i dont see that happening quickly. Could it happen sometime in 16 that could see adjustment in the oil district, sure. But if we have schitzofrenic growth going on, its not the worst circumstances to be in. I think whats really important is what do investors do in this environment. And in my argument that debate would i think investments ought to be doing is well be back with you in a little bit. Thank you for that. We will get your investment calls in just a few minutes. Stick around. Meantime quick check of the oil markets because were seeing incremental buying this morning. Brent crude recovering quite a bit from yesterdays sell off and off by 4. 5 . That would be fantastic crude oil up 1. 9 . And a little bit of this up by 0. 8 and still well below that 40 handle. Still to come on the show, lavish parties and unnecessary perks and failed acquisitions. We run through the growing list of grievances. Coming up after the short break. Today people are coming out to the Nations Capital to support an important cause that can change the way you live for years to come. How can you help . By giving a little more, to yourself. I am running for my future. People sometimes forget to help themselves. The cause is retirement, and today thousands of people came to race for retirement and pledge to save an additional one percent of their income. If we all do that we can all win. Prudential bring your challenges® its gotten squarer. Over the years. Brighter. Bigger. Its gotten thinner. Even curvier. But whats next . For all binge watchers. Movie geeks. Sports freaks. X1 from xfinity will change the way you experience tv. These are the headlines, u. S. Futures pointing to triple digit gains after the highest volume session in three months. U. S. Regulators open a probe into the junk bond blow up. It sends shares higher after hours. The state of massachusetts has opened an investigation into 3rd avenues unprecedented decision to block investor redemptions after its Junk Bond Fund was liquidated last week. William galvin will appear on power lunch later today at 8 00 p. M. Cet and in a statement he said, quote, average investors do not expect to be cutoff from trading in an open End Investment company. The sec is also reviewing third avenues actions according to sources cited by the wall street journal. Meanwhile, another victim of the junk bond jitters, lucidus capital liquidated its entire holdings and says it plans to return capital to investors. Meantime Goldman Sachs is warning of contagion risk. The bank says its the most exposed firm with over 30 of its fixed income assets and high yield and emerging market bonds but black rock and affiliated Managers Group have been oversold. You can head to cnbc. Com to read more on this story and the on going concerns over that junk bond market. Lets get back out to philadelphia where chief Investment Officer is still with us. Look, bob, you said selected opportunities in high yield paper. Where exactly, im guessing, not necessarily the energy space. Unfortunately it doesnt seem as though we have bobs audio. Too bad because actually he sees some opportunities in selected high yield paper considering the sector is being largely clobbered by the oil crisis. So he does see pockets of value. Its been a tough sector to invest in. Tough sector and third avenue the one really in the headlines here having high exposure to the Energy Commodity space and important to keep that in mind as well. Yeah, absolutely. Lets take a look at todays other top stories. Hedge fund manager whitney ti tillson covered his short position in Lumber Liquidators. He accused them of selling flooring product with cancer laced chemicals. He says he has seen evidence that they werent aware the company was selling chinese made lament with high levels. He says management was sloppy and any yoonaive but not evil. Not evil at least. But sloppy and naive. I like that. Boeing is boosting its Quarterly Dividend by 20 and a new 14 billion stock buy back. In october the company could cut production on its 777 wide body je jet. Meantime pfizer is raising the Quarterly Dividend by 7 to 30 cents a share. The ceo says the move reflects the drug makers commitment to return cash to shareholders and confidence in its business. It comes a month after pfizer announced it was merging with allergen in a socalled emersion deal. Up by 1. 1 and boeing checking in on shares of boeing up by 2. 1 . Dell has the flexibility to buy back more than 3 billion in tracking stock which will be issued to finance its purchase of emc. Its majority owned by emc and lost about a quarter of its value since the acquisition was announced in october. In a filing monday night its goal is to reduce its debt goal in the first 18 to 24 months. In order to secure an Investment Grade rating. Dell will have 15 billion in debt under its current plans to finance the emc deal and lets take a look at how theyre trading in germany. Emc off 1. 3 and vm ware taking it lower off 4 at this stage. Performance continues to grow and Hedge Fund Manager eric jackson is the latest making his criticism heard. The managing director has admitted a 99 page turn around plan to yahoo s board which includes suggested candidates and cutting the companys head count. Underlining his point, jackson lists all the ways in which meyer has blown money amid necessary Employee Perks and sponsorships. 7 million spent on a great gatsby holiday party. Maybe they should be flying just commercial airlines in the future. Theyre spending 450 million on free food according to capital and given out jawbones worth 2 million. Plenty of perks there. But 7 million party. I hope it was a good one. I wish i had gone to that party. Never say no to a great gatsby theme either. Samsung is making a last ditch effort appealing to the u. S. Supreme court and its long running fight with apple. And u. S. Patent law too broadly and one that can hurt competition by awarding excessive damage to patent holders. Samsung also claims the verdict that it cant be the iphones design could encourage patrols to step up litigation. Earlier this month samsung agreed to pay apple 548 million in damages on that case. Still to come on the show, youre next. Thats president obamas message for isis leaders. His latest security announcement after the short break. Well be back in two. Live preparations for the launch of the International Space station expeck digs. The rocket is due to take off at 6 03 00 a. M. Eastern time precisely. Its a very exciting moment especially here in the u. K. The first british astronaut to be going up to the International Space station but as we were talking about earlier nasa indicated it wants to pull out of the program in about ten years from now. So whether or not the private sector will step in but big ambitions and shifting focus a bit. And it has the fresh determination to destroy isis on a pentagon speech on monday. And win back territory in the middle east. Were hitting isil harder than ever. Coalition aircraft, our fighters, bombers and drones have been increasing the space of their strikes. Nearly 9,000 as of today. Last month we dropped more bombs on isil targets than any other month since this started. Were taking out leaders commanders and killers one by one. Nbcs tracie potts joins us in washington with the latest. We have seen president obama picking up the rhetoric here. What makes it different from the previous speeches . Its not really a lot different. We have defense secretary ash carter headed over to iraq to talk with them about the fight there and of course in syria where isis is headquatered. The president said that were trying to get more military commitments from the countries in that region and thats been one of the big issues here is its just going to be a mostly u. S. Fight or are we going to be able to get some of the other arab nations even more so on board than they already are but the president as you just heard did try to make the case that we are stepping up our efforts against isis. He said that they cant hide. He actually said that isis has not had a big victory since last summer. Then separate from that, we have secretary of state john kerry in russia today talking about a number of things including trying to get the u. S. And russia more on the same page when it comes to dealing with isis in syria. Trying to encourage them to target the air strikes and also dealing with the Syrian Government in syria and trying to keep that separate from ukraine. A bit of diplomacy hes doing today as one state Department Official put it. Do what we want in ukraine and well cooperate in syria. Theyre trying to keep the two things separate. So the war against isis is really drawing interest on two fronts today. The military side with the defense secretary in iraq and in terms of diplomacy trying to get russia on board in terms of at least what the u. S. Wants to do and secretary kerry is in moscow today dealing with that. But president obama has been criticized so heavily for not having a real strategy fighting isis and this comes as obviously were going into the last debate of the year. Were just six months out from the first voting in the republican field and terrorism is now topping the agenda. How much pressure does he feel to actually step up the game . Well, you know, if you ask people in the administration their approach is theyre not doing this based on Public Opinion and when i say do it i mean the fight against isis based on what the president thinks is the right approach. He said up front its going to hard and its going to take a long time. Yes the public is afraid after San Bernardino and after paris. The public is weary of hearing the same thing over and over and over but in terms of pressure it doesnt seem to be changing the game very much. Hes hearing it from Public Opinion polls. Hes hearing it from capitol hill. Pressure to put more boots on the ground and he seems to be very much dedicated to sticking to that game plan. All right. Thank you so much for that, tracie potts in washington. As we head to break, one of the iconic cast members of star wars the force awakens has a very special message for cnbc. Take a listen. To all the viewers of cnbc, i have an Important Message from a galaxy far, far away. May the force be with you, always. With passion. Business but i keep it growing by making every dollar count. Thats why i have the spark cash card from capital one. I earn unlimited 2 cash back on everything i buy for my studio. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Thats huge for my bottom line. Whats in your wallet . Victoria stilwell, you appear on tv working with canines. Are you a dog lover, watson . I do not own a dog. But i work with veterinarians. How do you do that . I help them analyse over one hundred thousand pages of medical studies. Thats great. cause they cant exactly tell us whats wrong with them. Isnt that right, rosco . Rosco. Who is a good boy . Who is a good boy . You are. Yes, you are. Watson, i think you need to work on your dog voice. While youre watching this, im hacking your company. Grabbing your data. Stealing your customers secrets. Theres an army of us. Relentlessly unpicking your patchwork of security. Think youll spot us . You havent so far. The next wave of the internet requires the next wave of security. Were ready. Are you . These are your headlines from around the world. European stocks follow the u. S. Higher after the biggest volume day in almost three months as investors position themselves ahead of the fed . Open investigations into the junk bond liquidation on rumors some investors knew what was coming. And not seeing the wood for the trees. Hedge fund manager Whitney Tillson covers his short position in Lumber Liquidators after slamming the company for selling toxic products. Fans, stars, androids come from near and far. Far away from the long awaited W