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tv   Worldwide Exchange  CNBC  October 1, 2015 5:00am-6:01am EDT

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>> a global relief rally kicks off october. stocks in asia and europe defy weak chinese data and trade in the green with u.s. futures also pointing higher. >> washington disputes moscow's claims that it's war planes are only targeting islamic state forces in syria. the pentagon warning russia's involvement will inflame the civil war. >> shutdown averted. u.s. lawmakers work right up to the deadline to push through a temporary bill but the stage is set for another budget battle in
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early december. >> peace at last. microsoft and google put an end to all litigation between the two companies settling no less than 18 cases. right. thanks for joining us. let's get straight to the market action and as you can see another very positive day for european equities. we started the month today in positive fashion as we ended the final day of last month but of course last month and last quarter as a whole very much negative. the dax was off about 6% for the month. and off nearly 12% for the quarter as a whole. so we've got to put that in perspective with the rally we saw yesterday and today as well. 1.5% for the ftse 100. germany up about .5%. right. let's also have a look at asian markets as well. sri is going to come in and give
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us an update on what we're looking at in asia. big day of data as well. >> absolutely. yes. china and japan. let's take a look at some of these markets and how they reacted. we pretty much wrapped up the session over here in asia. over there in asia. i am on assignment in london. the china data is factory activity and did show signs of stabilization but the bad news was that the services indicators they worsened and also the new export orders weren't anything to write home about either. you can argue we're seeing it on the external front and then the number there was reflecting deterioration in the large manufacturers in september but there were some silver linings among them. they remain upbeat.
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firms continue with aggressive spending. so in terms of boj next week and policy decisions it isn't a foregone conclusion but they may do so in order to get to 2% inflation. let's take a look at the forex markets. i wanted to highlight a couple of crosses. especially the aussie dollar is looking more resilient which is interesting. we're pivoting around this 70 handle. a good contact of mine over in asia, he started his own firm called amplifiying. we're seeing a period of recovery. the china data is stabilizing. the fed is a little bit more cautious so we could see a little bit more momentum above the 70 mark before the aed. dollar-yen 10. it will be very interesting to see how we trade ahead of the
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boj next week. euro under a little bit of pressure against the dollar, 11161 and the cable 15150. >> let's show you what u.s. futures are doing at this point in tile and they're looking higher. set to kick off october on a positive note. s&p 500 taking fair value into account. the dow jones higher by 132 triple digit there and nasdaq up 43 points. this is after we close with the highs of the session with respectable gains but it was a grim quarter for u.s. stocks. all of these ending in correction territory. joining us now from new york is carter worth, head of technical analysis. good morning to you carter. a lot of people are saying this is really just a correction in the on going rally but you say this is a bear market, why? >> sure, so and what's interesting about it of course is i'm relying not on my definition or anyone, just what
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history tells us defines bull or bear and the first thing is this, the definition is a period of rising prices where each successful peak and trough are higher than the proceeding one. so you have a series of higher highs and higher lows. you are asending or a bullish phase or bull market is a period where the major indices are generally rises up and to the right and there's board participation. we have the opposite. we have generally declining prices which has lower peaks and lower troughs. we do not have much in the way of broad participation so if one were to say is this a bull or bear, we're in a bearish period or bear market. let me say something important about this whole notion of 20%
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defines. there's no definition mathematically or percentage about what defines a bull or a bear. there is nothing documented that speaks of 20% being down. meaning, by example. if something were to plunge 22 or 25% and then recover quickly and go on to make new highs in a month or two, was that a bear that turned into a pull? of course not. when the swiss frank was unpegged, that was a bear and then a bull market? no. also it's about duration. if an asset went down for one month, 8 month, 12 months, down a year and a half but only got down 15 or 18% since it didn't go down 20 it wasn't a bear? of course it was. so what my eyes sees is a lot of damage done. a lot of individual stocks in bear markets for two years, big industrials.
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other countries from brazil to china and japan now really. we're in a bearish period for equities and i don't think there's anyway one could talk straight and call it any other thing. >> let's not worry about labels about what we're in and what we're not in and think more about which way the markets are now heading. do you think we're about to test the lows that we saw in august for the u.s. equities? >> sure, wilfred, i think that's the key issue here. we are at those lows. we have tantalizingly close yesterday and something of a bounce. so what's interesting is do you pass the test if that's what a test is or not? i'm thinking that we don't pass the test. that we undercut the lows and we know that the s&p 500 index undercut it's august 24th low. we know the health care sector,
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the all country world index undercut it's low and many individual stocks have. so if the definition of the market is the parts compose the whole, we figure out the whole by studying the parts, many individual parts have undercut their august 24th low meaning they failed to hold there. i think we test and fail. >> so at what point are equities going to hit resistance? when do we see a buy signal? >> well, i think it takes a lot of time to get out of trouble. we know this in life. we know it in business. we know it in political period events, sports seasons, if you get into trouble you don't repair quickly. damage has been done. money has been lost and it takes a lot of tile to change the psyche. it's easy to make money in bonds and stocks has been broken. i don't think it will be repaired quickly. time is the answer. tile or lower prices.
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>> thank you for joining us today. much appreciated. >> thank you both. >> let's have a look at what to watch this trading day in the u. s. weekly jobless claims are out at 8:30 a.m. eastern. forecast to rise 270,000 but claims are still holding at historically low levels. at 10:00 a.m. we get september ism manufacturing index which is expected to have fallen from august plus construction spending data. san francisco fed president jon williams speaks about the economy this afternoon and memory chip maker micron technology reports after the closing bell. >> auto makers report their september u.s. sales today. they're expected to top the rate of 17 million for the fifth straight month. sales should get a boost from the late labor day holiday. the focus is on the battle between the three u.s. auto makers over pick up trucks. analysts will be watching to see what impact they fell from the stock sale order of clean diesel vehicles. >> in the last half an hour a
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saudi enjoy demanded that russia stop it's bombing campaign in syria. it comes after the united states disputed claims that air strikes are targeting islamic state forces only. speaking at the pentagon, ash carter says russia's actions risk inflaming the civil war. >> i want to be careful about confirming information but it does appear that they were in areas where there probably were not isil forces and that is precisely one of the problems with this approach. >> in new york the tension between john kerry and lavrov was palpable. >> we all want syria, democratic, united, secular, syria which is a home for all ethnic and confessional groups whose rights are guarenteed but we have some differences as for the details on how to get there. >> even as we don't have yet a
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resolution with respect to critical choices in that political solution we think we have very specific steps that may be able to help lead in the right direction. >> hurricane joaquin is expected to strengthen as it heads toward the bahamas. it's a category 3 hurricane with winds at 120 miles per hour. they're forecast for up to 15 inches of rain. joaquin could be the first hurricane to make u.s. land fall in 15 months. it's unclear where it could land next week with storm warnings between north carolina and boston. >> forgive and forget. which two companies are calling a truce after a series of courtroom battles. we'll be back in two.
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welcome back. let's get you the headlines. u.s. disputes russian targets in syria as the two prepare a meeting. hurricane joaquin strengthens as the east coast makes preparations for land fall and jack dorsey will be made the permanent ceo of twitter as soon
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as today. >> the head of capital markets and was in a bid to convince them that the company is stable. running through the details of various credit lines in the process. a separate board in the financial times suggests that traders are now quoting glencore debt like junk bonds. regardless. shares up 7% today. >> almost back above the 100 p level. wow. shares in k plus s are trading higher on a report providing details of how potash is trying to sweeten it's bid for the german miner. the canadian company is offering 2 positions on its board and promising to build centers in
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germany. no new approach has been made. shares higher by 6 and three quarters of 1%. >> microsoft and google are burying the hatch cheet. they agreed to end all litigation against each other. it ends court fighting involving technologies including mobile phones, wifi and patents used in windows products. they're also dropping litigation involving motorola mobility. let's have a look at share price action in german trade. microsoft up 2%. google up 1.3%. >> microsoft set to open it's first flag ship store in manhattan on october 26th. it's located on 5th avenue at more than 22,000 square feet it has some features similar to an apple store including an answer desk for technical help and repairs and a community theater where customers can learn to use
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microsoft products. i want to come back to the dropping of the patent war. i wonder what triggered that. we don't know how much money changed hands. are they tired of it? they saw it made no sense to go forward with it? >> i bet these guys have been on discussions for ages until some kind of mutual number is found but a lot of news off the back of this because two massive tech titans from the u.s. and so any kind of clash or agreement is big news but they very rarely come to going to court because it's not worth either of them doing that. >> except for apple and samsung. that was very high profile. unless they we seem burying the hatchet i don't believe in the big truce. so that would be really interesting. >> indeed. let's also mention the microsoft store mentioning on 5th avenue. >> yeah. >> we'll have to wait and see if
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it does as well as the cool apple stores have done around the world but it does mark for microsoft a significant transition it's gone through over the last decade from being just a boring microsoft software company where you just take whatever is already installed on the pc, you're not particularly borrowed about buying a microsoft branded product to being a hardware company as well with the surface and whatever else and there is a point to have a physical store. >> but the main goal is raising the cool factor. if you're going to be in that location, if you want to build up the rivalry with apple when it comes to the cool factor, the store, i don't know if that's going to work by just opening a store. you need to have a -- >> microsoft is not cool. >> personally, i don't think it's cool. i don't think many consumers out there, many teens out there think it's that cool. it's still an enterprise focused business. >> and software it's is not very trendy but it's trying to make
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the transition. the store opens october 24th. just in time for my visit to new york in november. >> an you said you're going to bring back a lot of stuff for me. >> a very glamorous gift. let's stick with tech but move on to twitter which is expected to name jack dorsey as it's permanent ceo as soon as today. dorsey will continue as ceo of square. he has been serving as twitter's interim ceo since july 1st. the board had said during it's search it wouldn't consider anyone running another company but re/code said they both began to lobby for him to serve as the head of both if i recalls. the stock finished up 5.3%. >> more breaking news coming out of russia. kremlin says russia's air strikes in syria are financed only by russia. there's no contribution from syria. when asked about the threat of
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violent backlash inside russia after syria air strikes says russia constantly takes measures to prevent terrorist attacks. this is after the u.s. disputed the view taken on by russia saying it is focussing on isis and not so much on the rebels. still to come on the show, remember the medley reports? well the firm behind them is raising a few eyebrows with it's defense to an insider trading probe. all the details coming up next.
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>>th obama signed a top gap spending bill averting a u. s. government shutdown today. they passed the measure giving congress and the president ten more weeks to craft a longer term budget bill. they also passed a companion bill. but the senate isn't expected to act on it effectively killing the bill. the white house released a statement saying americans deserve far better than last minute short-term legislation. the third quarter saw all major u. s. indices fall into correction territory. the dow having it's worst day and week since 2011. so what does this mean for your retirement savings? joining us now from new york is jeffrey snyder, vice president and ceo consultant. good to see you this morning. thank you for joining us.
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let's kick off about the volatility in recent months and weeks and over the summer. is that something that long-term investors should try to ignore as opposed to get concerned about? >> certainly we're working with all different types of retirement plans, define contribution plans what we call here in the u.s. 401k plans and we're really sitting down and working with clients that are really conscious of these plans and how to communicate with investors and participants and employees and we're urging people to take a step back, remove the emotion from the decision and really urge calm. i think that's really the approach for people who have a longer time horizon. >> it's more important than to catch the big rises. what's your way to protect
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against any falls. yields on bonds is a great protection tool. they're very low. what's the best way to protect at the moment your portfolio? >> i think certainly taking a step back this is a great opportunity, you can take a look at the investment options provided. such as large, mid, small u.s. equities and there are really good opportunities within the portfolio such as options like target date funds. there's balanced professional managed portfolios designed to weather these market corrections and volatility. >> loss avoidance is the primary concern for many investors out there, especially as they do get older. to what extent is hedging a lot more important nowadays and is it being utilized? >> well, certainly hedging does exist.
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in certain fixed income portfoli portfolios. so we're working with clienlts to make sure that they understand what they're investing in. these plans are all about education and communication. taking a step back. having a thoughtful communication to education strategy and rolling it out and keeping that happening on a regular basis is the responsibility of the employer. >> all right. we have to leave it here. thank you for your time. jeffrey snyder, vice president and senior consultant. quick look at u. s. futures. we're expecting a higher start to the trading session even though it's early hours. s&p 500 higher by 13 points. the dow set to ad triple digits. 128 is the upside we're expecting and the nasdaq seen up by 42 points after we close at
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the highs of the session yesterday. the third quarter wasn't so great. they closed in correction territory. >> we have a good start to the month in european equities as well carolyn. of course as is the case with the u.s. following a very poor month and a very poor quarter but strong performance today. we have paired some of the gains but still significant gains as you can see across the board. >> still to come on the show, disney celebrating 10 years under ceo bob iger but will everyone live happily ever after in the magic kingdom? we'll discuss after this.
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>> welcome. you're watching worldwide exchange. >> here are your headlines from around the world. >> stocks in asia defy weak chinese data and trade in the green with u.s. futures also pointing higher. >> washington disputes moscow's claims that it's war planes are only targeting islamic state forces in syria. the pentagon warning russia's involvement will inflame the civil war. >> shutdown averted. u.s. lawmakers work up to the deadline to push through a temporary bill but the stage is set for another budget battle in early december. >> major hurricane joaquin is on
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course to batter the bahamas before heading up the east coast bringing winds of 120 miles per hour and heavy rain. >> good morning, everyone. it is 5:30 on the east coast. it's 10:30 here in london. thank you for joining us here on the show. let's have a quick peak at u.s. futures and they're looking pretty perky this morning. the s&p 500 up by 13 points. dow jones up by triple digits. 125 is the advance that we're expecting there and the nasdaq is seen higher by 40 points. this is after a strong rebound in yesterday's trading sessions with u. s. indices closing at the days highs. we're also seeing a positive tone across the markets this morning. higher for a second straight day. the cac 40 is adding on 1.1%.
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what are the sectors driving us higher? it's autos and basic resources once again. one of the major markets is closed. that's china but we had a lot of china data out this morning and that was pretty mixed. the pmi numbers pointing to a moderating economy. not so much a crashing economy. the nikkei 225 higher up by 1.9%. >> prosecutors have launched an insider trading probe into the leak of sensitive information in 2012. the wall street journal says the cftc is also looking into whether anyone violated inside of trading rules when the firm at the center of the probe disclosed clients details about the fed's plans for more stimulus but they're claiming it's media organization making it entitled to special protection under the law. let's have a look at what to watch this trading day in the u.s. weekly jobless claims around
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8:30 a.m. eastern. forecast to rise to 270,000 but claims still holding at historically low levels. at 10:00 a.m. we get the september ism manufacturing index which is expected to have fallen from august. plus construction spending data. san francisco fed president jon williams speaks about the economy this afternoon and memory chip maker micron technology reports results after the closing bell. >> auto makers report their september u.s. sales today. they're expected to top the annual rate of 17 million for the fifth straight month. sales should get a boost from the late labor day holiday. the focus is on the battle between the big three u. s. auto makers over pick up trucks. analysts will be watching to see what impact volkswagen felt from the stopsale order in the wake of its emissions scandal. president obama signed a stopgap spending bill today. the u.s. house and senate passed the measure on wednesday giving congress and theth ten more weeks to craft a longer term
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budget bill. >> in the end it was a bipartisan vote. 277-151 to kick the can down the road and prevent a government shutdown tonight at midnight east coast time here in the united states. ultimately, though, this is going to be refought all over again on december 11th or in the days leading up to that date. more republicans tonight voted against the measure than voted for it but all of the democrats voted for it and that's what gave them the votes they needed to keep the u.s. government open and functioning for another couple of months. the big question here, what happens in the run up to december 11th. particularly because we've seen the resignation of speaker of the house, john boehner. boehner then gaining the political flexibility to cut this deal with democrats on a short-term basis. his successor, however, expected to be kevin mccarthy, a republican of california will have to deal with a republican conference and figure out a way to keep the u.s. government open
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even though the hardcore of conservatives in his base has sent a very clear message here by deposing the previous speaker of the house that they want republican leadership that will fight with president obama and not cut compromise deals in a time that is going to call for a compromise deal that's going to be a very tricky situation for the next speaker of the house. >> a federal judge in wyoming granted a preliminary injunction against the u.s. governments rules for fracking on public lands. the judge put the regulations on hold in june while he weighed a request from energy industry groups and four states to stop them from taking effect until their lawsuit was resolved. it would require them to provide data on chemicals used in fracking and oil and gas wells on federal land. >> former massey energy ceo goes on trial today in the worst u.s. mine disaster in 45 years. he is charged with conspiring to break health and safety rules and hundreds of violations at
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the upper big branch mine in west virginia. an explosion in 2010 killed 29 miners. he is also accused of lying about massey's safety practices and financial documents. he could face up to 30 years in prison if convicted. >> bob iger is celebrating ten years as the ceo of disney this month with iger at the helm. disney made several notable acquisitions including pixar, marvel and lucas films. it's one of the most reputable companies in the world every year since 2006. joining us now is michael morris. michael, good morning to you. thank you for joining us. let's kick off with the overall view of iger's tenure in charge. what do you think really defines his ten years? would it be some of the acquisitions we mentioned? marvel and pixar? >> i do. those are the highest profile steps mr. iger has taken and it's very interesting because they are significant investments
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for the company. upwards of 15 to $20 billion but they were really about positioning the company for the future as much as they were about changing the company in anyway. so i think when mr. iger leaves disney at the end and we look back we'll say that during his tenure this was about further aggregation of assets approximaput into a machine and really enhanced it for the future. >> do we think that lucas films could have as significant of an acquisition. will that describe the next decade? the star wars franchise for disney? >> absolutely. i think so. when you look at both the intellectual property that they acquired in terms of the history and the characters and the richness that you can do with those properties and you look at how you can use that across the disney machine, not only in the film business but the television program they're working on and parks enhancements and consumer
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products, these are all things that the company does excellent work with and this is as deep a collection of property rights as i think could possibly be aquired. >> michael, bob iger shocked the markets in early august when disney cut it's outlook for the cable business and people realized, wow, cord cutting is real. do you think bob i fwrger is th right person to lead disney through the transition as we're moving from the big bundle to the skinny bundle, we're seeing lower advertising revenues. is he the right man? >> i absolutely think he's the right person. i don't think that's a question. i think it shows how complicated, how complex this industry has become. i think that if you look at mr. iger's track record you look at things he's done to date that we just spoke of, this is a person with a very strong pattibatting average and someone with a good vision of the future and understanding how to position
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his company but there's several challenges for all media companies that all media companies are facing and the reaction in the media industry speaks a bit to the confidence investors have in mr. iger. he said there are changes in this industry and changes impacting our company and we're figuring out how to work through them and when somebody with his track record and stature says we have things we need to look at as well that impacts the industry overallme. and you're seeing some uncertainty. >> the question is whether he's going to take espn to the consumer. you have a buy rating on disney stock. is that also your top pick in the cable media industry? >> it's a good deal. there's a company i prefer called amc met works which owns a family of great networks but i think disney is one of the
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highest quality investment opportunities in the space. >> thank you for your time. appreciate it. michael morris, entertainment and media analyst. >> thank you. >> now throughout today's show we have been asking you as bob iger celebrates 10 years at the top of disney, if you were a disney character, who would you be? and perhaps you've also got ideas for which characters match up best with various economic and business leaders around the world. continue to get in touch with us with we shared a couple of ideas with our viewers. in particular, a recent outfit as pinochio. that doesn't reflect your personality. >> no. always tell the truth. and one is snow white for you. >> that's very kind. i didn't know you made that up but that's kind. >> you're not going to see it. >> there it is. there it is.
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a very apt comparison as well. continue to get your suggestions in to us at cnbc wex. >> long-term tech rivals agree to settle all of their issues with each other. all the details on that after the break.
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>> twitter shares big outperformer. we're up by 5.27% after re/code reported that jack dorsey could become the permanent ceo of twitter. he was the interim ceo but will also remain the ceo of online payment system square and that raises a lot of questions because what about the allocation of his time? it's very very time consuming. >> i couldn't agree more. it's quite a big turn around because they didn't want him to be ceo of both. 5% positive reaction to this. i can only imagine that there's some kind of agreement if it does ipo that after he's got that through he might step down. sounds like he would be far too busy. >> certainly sounds like that. a couple of brokers actually raised the possibility of the two companies merging so he could be allocating enough time for both companies but it also raises questions about twitters future strategy.
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it's all about e-commerce isn't it? there's going to be a couple of conflicts of interest here. >> absolutely. interesting to watch. anyway, the market taking that news very well up 5.3%. let's move on to microsoft and google. both of who are are burying the hatchet deciding to make peace with each other over long standing legal issues. for all the details let's get out to landon at cnbc hq. >> the two companies have agreed to end all litigation against each other settling 18 cases in the u. s. and germany. they say the deal will end court fights over a variety of technologies including mobile phones, wifi and patents used in microsoft's xbox game console and several windows products but a spokesperson says the agreement doesn't prevent any future lawsuits as the companies continue to make products that compete directly with each other including mobile devices and search engines. they have been working together on issues. these include developing a
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unified court for the european union on patent cases and royalty free technology for speeding up video on the web. but it also drops motorola mobility. in 2010 microsoft accused motorola for violating patents. shares today microsoft and google are trading higher. microsoft is set to open it's first flag ship store in manhattan on october 26th. it's located on 5th avenue. several blocks south of the flag ship new york store at more than 22,000 square feet it will have several features similar to an apple store. these include an answer desk for technical help and repairs and a community theater where customers can learn about microsoft products. the company will open a second flagship store in sidney
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australia in november. >> quick reminder of our headlines. the u.s. disputes russian targets in syria. hurricane joaquin strengthens as u.s. makes preparations for land fall and jack dorsey will be named the permanent ceo at twitter as soon as today.
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>> the blue jays stumped the baltimore orioles 15-2. however the celebration was put on hold while the teams played the 2nd game of a double header which baltimore won 8-1. let's have a look at european markets. a strong debt trade to kick off the new month. it follows a descent day
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yesterday but of course do bear in mind that overall last month was very negative and indeed last quarter as well. germany finished off about 6% for the month and down some 12% for the quarter. so unsurprising that we have kicked off in the green today although the strength was more pronounced early in trade than it is now. >> u.s. futures seem to be taking their queues from the european and asian markets. s&p 500 higher. we're off the highs but the nasdaq seen up by 29 points. this is after we saw pretty impressive gains yesterday too. closing out session highs. >> more than 60% of u.s. credit card holders don't have a chip enabled card. this despite an october 1st deadline by the credit card industry where retailers lacking the technology to process
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payments could face penalties. joining us from san francisco is the co-founder and ceo at chime. thank you for joining us. clearly an important deadline we hit today although have to say from a british and european perspective i can't believe how far behind the curve you guys are there because we've had it for, i don't know, five years, maybe more, ten years even. >> right. thanks for having me this morning. you're right. this is technology that's been around for actually almost 20 years at this point and the u.s. has been lower to adopt it because of reterminalizing locations in the u.s. and over a billion credit and debit cards so it's taken some time but today is the deadline but the first step of a long roll out process. the numbers i'm hearing is closer to 25% of cards currently chip enabled in the u.s. and similarly on the merchant side
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only 20 to 30% of merchant terminals today are fully equipped to support that technology. >> who suffers and who gains from this deadline being passed? >> well, i think it's a net positive for the industry. it's going to create a far more safer and secure transaction that will present a lot of counterfeit card fraud. interestingly though it's kind of a step back in terms of the consumer experience. the way it works today in the u.s. is you simply pull out your card and you swipe and it's really fast. with this new approach, you're actually going to stick your card into the terminal similar to an atm machine and it's going to take as long as 4 or 5 seconds and that's a little bit awkward for people. you'll have an awkward science looking at the clerk waiting for the transaction to complete. so it's kind of a negative in terms of the consumer experience but i think there's a bigger story here around the reterminalization and enabling
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merchant locations to support mobile payment technology and my prediction is that's really the bigger story here is that this will accelerate the use of things like apple pay which are going to be a faster transaction and will -- people will use this technology even more and you'll see more people will adopt mobile payments and mobile banking. we're seeing that here with our product at chime which is a mobile bank account. >> you also recently did a survey that found that 88% of millennials would prefer to never deal with a traditional bank? is that because of disappointments in the past? they still offer you a great safety net, doesn't it? >> well, i think interestingly consumers manage all aspects of their life on the phone today. you're going to see the same thing in banking as well.
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you haven't seen too much disruption of the core bank account and that's what we're going after here with chime. younger consumers have no interest of going into a bank branch and sitting down for a half hour to open up an account. they'd rather download an app and get a bank account they can run all aspects on their phone. they give them instant alerts. because in some respects it's safer because you always have a handle of what's going on in your account. no matter what technology is out there you can never completely eliminate fraud so we believe that just having a good handle of your finances and knowing where your account stands and what's going on with your account is the best way to prevent fraud by catching it early and if you need to turn off your account or report a suspicion activity you can log into our app and turn the card off. and we're here to protect you. >> chris, appreciate your time. co-founder and coo at chime. >> the united states has
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disputed moscow's claims that it's air strikes are targeting islamic state forces only. speaking at the pentagon last night, the u.s. defense secretary said russia's actions risk inflaming the civil war. >> i want to be careful about confirming information but it does appear that they were in areas where probably not isil forces and that was one of the problems with this whole proef. >> in new york the tension between u.s. secretary john kerry and lavrov was certainly palpable. >> we want syria which is a home for all ethnic and confessional groups whose rights are guarenteed but we have differences as for the details on how to get there. >> even as we don't have yet a
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resolution with respect to some critical choices in that political solution, we think we have some very specific steps that may be able to help lead in the right direction. >> let's show you oil prices on the back of this. we are higher today. brent crude rallying by 2.2% at 49.40. wti crude up by 2.7%. there's a tiny bit of premium on the back of the events in syria but more of it is positive risk sentiment. >> indeed. positive risk sentiment in asia despite weak chinese data. we'll see it in u.s. markets today. positive futures across the board for the s&p. the dow, and the nasdaq. that's it for today's show. thanks for watching. >> squawk box is up next. we'll see you tomorrow. bye bye. opportunities aren't always obvious.
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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.
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shutdown averted. that's at least for now. breaking overnight president obama signing a spending bill that's going to keep the government funded through early december and #finally. twitter expected to name jack dorsey as it's new ceo as early as today. it's thursday, october 1st, 2015 and squawk box begins right now. ♪ >> live from new york where business never sleeps, this is squawk box.
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>> good morning everybody. welcome to squawk box here on cnbc. welcome back. we do have breaking news at the hour. hurricane joaquin getting stronger. the storm now a category 3 packing 120 miles per hour winds. it's approaching the bahamas now. as for the u.s. impact the track is anything but certain. some models have it slamming into virginia, maryland or north carolina. others have it heading back out to sea. it's still early to try to be tracking exactly where it's hitting. the east coast is bracing for a rough weekend. we'll have a live report from our colleagues at the weather channel in just a bit. >> the third quarterfinally over for the stock market and anybody bullish on this market is glad to see it go. take a look at the futures this morning. dow futures up by triple


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