Good morning. Welcome to worldwide exchange, im sara eisen. Im willfred frost. Lets check in on the Global Markets after another selloff on wall street. Energy bore the brunt of selling yesterday. Futures looking calmer this morning. S p 500 futures up 6. Nasdaq futures up 17. Here we go again, on again and off again risk aversion. The volatility is back and moves are getting bigger. Were not seeing a triple digit move in dow futures. We saw that yesterday and the day before and the day before that. Well see if this relative calm lasts. The futures market has not been a good indicator of the days trade ahead. Whether the futures have been green or red, weve led to some quite significant declines. Do keep that in mind as we get closer to the open. Yesterday big declines across the board. Tech was the relative outperformer, only down 0. 6 . Apple significantly gaining. It was the only stock to be up on the dow after some of the Telco Companies released early sales figures for the iphone. Apple is a bright spot. The tenyear treasury note yield. Check on the mood that has been a source of concern for the markets. This jump up, tenyear above 170. 171. Yields plat this morning. Well see if that lasts. A global phenomenon, higher yields have spooked equities. The question is is the great big bond rally coming to an end . How sharp and violent does that come . A lot of talk about that at the alpha conference. The 30year moving up closer to 2. 5 . D it depends what the driver for yields is, if its rate hikes, not so much of a problem. If its a lack of confidence of Central Banks to efficate things moving forward, thats more of an issue. Well bring remarks from people far brighter than us in just a moment. Lets look at european equities. They did decline yesterday around 1 . Bouncing back today. Perhaps thats a sign that the u. S. Figutures market can hold to gains when we get the open. Slight gains across the board for europe, other than spain which is flat. Asian trade. Sort of a similar story. We had declines yesterday, but in fact declines again in asia. We have had a move in the nikkei down 0. 7 . Shanghai down 0. 7 . For the Broader Market picture, crude prices are rising. After falling as much as 3 yesterday. Small rise here. 45 a barrel is your price on wti crude. Brent 47. 19. We did get that api report on inventories last night. 1. 4 Million Barrels in terms of a build. That was smaller than expected. Its wednesday, so well get the government report this morning in the 10 00 hour. Watch oil prices on that. Also helps oil is the dollar is softer. The dollar has been stronger over the past few sessions along with higher yields. Higher yields make the dollar more attractive. Youre seeing that this morning against the yen. It is weaker against the euro and the british pound. The currency moves have been smaller than the equity moves and the bond market moves. Theyve been taking a backseat now. Always important to watch. If theres any fear the fed will raise rates next week or december, could see that move in the dollar. As for gold, lets show you the trade. Slightly higher on the back of that softer dollar. And there is the Bayer Monsanto imminent deal, which will be a big one. One piece of Economic Data on todays agenda, august import prices a key measure of inflation out at 8 30 a. M. Eastern. They are expected to slip by 0. 1 last month. To this mornings top corporate news, that is the big one, more than 66 billion deal. The largest one of the year could be close to done. Were talking about bayer reportedly set to announce its acquisition of monsanto as soon as this morning. This follows more than four months of talks. Bayer has increased itsed by to around 130 per share. The combination will be scrutinized by regulators. Both stocks are higher this morning. Monsanto up 2. 5 . The big question is can they finally seal the deal . Views on that in a moment. Wells fargo facing a firestorm of criticism following its sales practices. John stumpf appearing on mad money last night. Saying he holds himself accountable to the abusive practices at the firm. It may mean, some people say, is you have to resign. I think the best thing i can do is lead this company. Today we made an announcement about sales goals. We never intended for Product Sales or any dynamic or any part of a Management System to be misinterpreted. The bank was fined 185 million by the Consumer FinancialProtection Bureau and two other regulators for allegations its staff opened more than 2 Million Bank Accounts and credit cards for customers without their consent to meet internal sales goals. Cramer asked if he heard from warren buffett. He said hes talking to a lot of Share Holders but wouldnt talk about one conversation. Wells today is up 0. 4 . Yesterday it slid. Ending the day now as only the Second Biggest Bank by market cap in the united states. Jpmorgan taking the title as top spot. Of that interview last night, were billing it as a mea culpa saying he takes accountabilities. I think mea culpa is too generous a term. Hes saying, yes, the buck does stop with me. His comments and the cfos comments yesterday morning on a Conference Call suggest this was lower level employees who did wrong. They didnt want it to happen. But who was supervising . Thats the point. Theyre not saying we need to give back chunks of the bonus and things like that. Jim asked about that. He wouldnt go there. He said it is a board matter saying maybe there was some discussion about that. So maybe not a full mea culpa, but he said the buck stops with me. Well be under more pressure next week. He said he will go to that senate hearing. This story will not end. The premarket at least, their share price is up. Jack lew saying he wouldnt comment too much, said the claw back was a Consumer Protection issue, but that it was a wakeup call to the persons of this issue of doddfrank, and some saying it should be abolished but it was also culture problems at wells fargo. He also said no one is too big to jail as well. Not specifically talking about this particular issue. But something to be aware of. Giants of investing business and policy had warnings for investors at the delivering alpha conference in new york yesterday. Paul singer, president of elliott management, arguing that central bankers are to blame for the slow economy. Liste listen. Eight years of everdeclining rates and everincreasing radicalism in other monetary policies have not created a sustainability accelerating uptick in growth what they have done is created a tremendous increase in hidden risk. Risk that investors dont exactly know or faced about their holdings. I think its a dangerous time in the Global Economy and Global Financial markets. Blackstones ceo Steven Swartzman offering a less than optimistic stone saying stocks are overvalued here as Interest Rates give them a lift. He also joked around when giving his prediction that fed policymakers may react soon out of boredom. People have been talking about this on television for so many years, that the fed may do something out of the boredom of it all. Were daring them. Right. Youre daring them repeatedly, eventually theyll give up and do something. 25 basis points will move markets only because you all have become a proxy for the markets. You wanted to move something. Or else theres no news. A and but it wont make a difference to the u. S. Economy. We also heard from ray dalio who said the debt market is in a dangerous situation as Central Banks around the world lose their ability to stimulate growth. Theres only so much you can squeeze out of a debt cycle. Were there globally. When you cant lower Interest Rates anymore, we know the power of having the effect on asset price is going up because Interest Rates go down. In other words, they have a present value effect that causes Interest Rates to cause asset prices, and were reaching that limit. The inability to produce stimulation by lowering interest rat rates is at a limit. The heavy hitters with a heavy dose of economic pessimism. A lot of blame on central blanks for what paul singer called central bank extremism. What do you do with that information . Singer said you avoid g7 bonds. They are not safe. The idea that theyre safe havens is completely wrong. It almost felt like you needed a central banker there to defend themselves against the Big Hedge Fund players. Ray dalios point is the bearish one. We were touching on it earlier looking at the bond yield charts. Hes saying thats due to the lack of efficacy now that the Central Banks ability to do anything is slipping away. In the u. S. , if yields are ticking up because rates are going up, thats less of a worry, but hes suggesting thats not the reason but that Central Banks have nothing else to do. The seinger and dalio agreement agree with what trump was saying, that they propped up the markets artificially. I have to say, there was more warnings and worry from these Hedge Fund Managers about slow growth and lack of efficacy from central bankers than the political environment in the u. S. Donald trump, we tried to get that out of a lot of our panelists, but we didnt get too much. Don fits pzpatrick said we need pay more to the elections here than the Central Banks obsessions. Well bring you more opinions from yesterday throughout the show. Stocks to watch today. Sarepta therapeutics jumping more than 10 . The fda will make a decision soon on whether to approve the companys treatment for genetic muscular disorder. Samsung says it will perform a Software Update to limit the charge on the galaxy notes 7 battery at 60 . The update is only available in south korea for now. The company also running local ads apologizing for the global recall of the phone following reports that the battery could cash fire while charging. I wonder if that will have an impact on the early numbers out of apples iphone 7 sales yesterday. Hermes is suffering its worst day in six years. They are scrapping sales growth targets due to an increasingly uncertain sales target. Stores still have not recovered following the paris attacks in nice in june. Its down 6. 8 . Luxury retail across the board in europe is suffering today. The likes of richemont and swatch as well. Bill ackman has been a largest shareholder in the Industrial Gas and Chemical Company and led a push to cut costs. Jetblue says cfo mark power will retire on november 1st. He will stay on as adviser for the next year. And richemont is warning the first half product will be lower after sales were off 14 through august. Sales were down in much of europe due to lower tourism and growth in china was offset by weakness in hong kong and macau. The head of the European Commission calling for brexit to happen as quickly as possible. This is his first formal address in terms of a policy address. He gets on the microphone when he can. This was a formal policy address and he called for greater union. We are talking about Jeanclaude Juncker and his annual state of the Union Address today. Youre watching worldwide exchange. T in makes it easier to get here, the neighborhood is really changing. Im always hopping on the train, running all over portland. I have to go wherever the work is. Trains with innovative Siemens Technology help keep cities moving, so neighborhoods and businesses can prosper. I can book 3 or 4 gigs on a good weekend. Im booked solid for weeks. It takes ingenuity to make it in the big city. What if 30,000 people im download the new app . S. Were good. Okay. What if a Million People download the new app . Were good. Five million . Good. We scale on demand. Hybrid infrastructure, boom. Ok. What if 30 Million People download the app . Were not good. Were total heroes. Scale on demand with the Number One Company in cloud infrastructure. Hewlett packard enterprise. I think its a dangerous time in the Global Economy and Global Financial markets. The entire constellation of monetary policies post08 i believe has been strongly growth suppressive. There is only so much you can squeeze out of a debt cycle. Were there floeglobally. Dont start taking as much risk as you used to and get the same returns. You just cant in this environment. You want to focus on those countries where currencies will act as an offset. Uk and germany are the most interesting places to invest. I find rates and equity markets heavily disported now. Welcome back to worldwide exchange. That was a small bit of what we heard from yesterdays ail star gets at delivering alpha. Many delivering their views on the economy and this outlook of low yields and low returns. This morning in strasbourg, Jeanclaude Juncker giving his state of the Union Address. Reporter it was a passion in the and lengthy speech. I think he spoke in four different languages once again. Hes defended the European Union in his annual state of the Union Address saying brexit does not put the block at risk. He said the region was not social enough and the next year was crucial to deliver a better europe. Translator allow me to state here and today that we respect and at the same time regret the uk decision. But the European Union as such is not at risk. In fact, that was juncker giving the first policy address since the uk decided to brexit. Guys . Carolin, also on the agenda is bayers deal for monsanto. Will they finally get it over the line . Hopefully. This deal has been in the making for months, this is now the fourth time that bayer has had to raise that offer. People close to the matter say it will be closer to 130 a share. Monsanto is widely expected to have accepted that, even though they were originally pushing for a much higher price, 135 or 140 even. Reports also saying that bayers Supervisory Board will meet today to seal a tieup and takeover. That would create the biggest ag supplier in the world. Its also worth noting that the breakup fee has been raised to 3 billion that tells you monsanto has been pushing for protection if the deal pushes through for competitive concerns. Carolin, thank you very much. Still to come, the mornings top political stories including donald trump preparing to release some medical information. Well tell you what dr. Oz has to do with it. Stay tuned. Youre watching worldwide exchange. Okay, so whats our latest data say . Our customer is a 21yearold female. Heavily into basketball. Wait. Data just changed. Now shes into disc sports. Ah, no shes not. Since when . Since now. Shes into tai chi. She found disc sports too stressful. Hold on. Let me ask you this. Whats she gonna like six months from now . Who do we have on aerial karate . Steve. Steve. Steve. And alexis. Uh, no. Just steve. Just steve. Just steve. Live business, powered by sap. When you run live, you run simple. But the best place to start is in the forest. Kubo i spy something beginning with. S beetle snow. Kubo no. Beetle snow covered trees. Monkey nothing to do with snow. Narrator head outside to discover incredible animals and beautiful plants that come together to create an unforgettable adventure. Kubo wow narrator so grab your loved ones monkey dont even. Narrator and explore a world of possibilities. Kubo come on, this way. Narrator visit discovertheforest. Org to find the closest forest or park to you. Good morning. Welcome back to worldwide exchange. Donald trump is expected to reveal medical records today as he tapes a segment for the dr. Oz show. Hillary clinton will spend another day off the campaign trail because of her pneumonia. Tracie potts joins us from washington with the latest. Reporter good morning. The reaction on sunday to that pneumonia caught on video has forced the issue of these medical records for both candidates. We want to start with the former secretary of state, colin powell, who is now admitting he made some harsh remarks about trump. This morning former secretary of state colin powell confirms an email exchange where he calls donald trump a National Disgrace, part of the racist birther movement. Today is supposed to be a day of revelations for trump. Hes promised to reveal results from his latest physical on the dr. Oz show. I wont ask him questions he doesnt want to have answered. Trumps Campaign Manager says there is no need for a detailed medical history. I dont know why we need such extensive medical reporting when we all have a right to privacy. Reporter also today trump is promising to reveal his economic plan fully paid for after announcing he would expand Tax Deductions for child care. Those in leadership must put themselves in the shoes of the factory worker, the family worried about security or the mom struggling to afford child care. Really . This is the guy you want to be championing working people . Reporter president obama filling in for Hillary Clinton tweeting but still recovering at home. Shes expected to be back on the trail tomorrow. Back to the leaked emails and powell, he said there is more out there to be revealed. These hackers have wreaked havoc in parts of the political world.