Im Morgan Brennan in for sara eisen great to have you with us lets get straight to the latest on harvey in a few moments, first a check of global markets. In an extraordinary turnaround. Yesterday at this time, we saw dow futures down 150 points, p in the end they ended up 56 points higher. That turnaround coming a half hour after the open in terms of the most pronounced fashion, Consumer Confidence came in, but the main reason is that that realization that the north Korean Missile test did not affect things much we got that turnaround and its continuing today the dow higher by 45 points. The nasdaq by 15 tenyear treasury note fell below 2. 1 were back above 2. 1, but the net fall in yields yesterday did weigh on bank stocks turning to the rest of the world, that similar dynamic we saw playing out in u. S. Equitie yesterday playing out today in the asian markets which closed mostly higher. The nikkei up 0. 8 the hang seng, that was up more than 1 . The shanghai composite closing about flat the koz spi up 0. 3 . All of these indexes are higher on the week and were 36 hours out from north korea sending a missile over japan pretty incredible. Similar story in europe. Relief rally there as well after a sharp selloff in many indexes. German dax up a half percent similar gains for the french cac and the ftse 100 also up for the month of august for u. S. Markets, the s p is down less than a percent, nasdaq down less than three quarters of a percent. The dow is hardly negative at all. For a month with so Much Negative headlines declines are still small relatively encouraging when you look at the market moves for the month t does not tell the story of all the volatility we have seen in the market exactly right lets look at the broader markets. Oil prices stemmed the size of their slide yesterday. Wti down 0. 3 . Of course they had been falling more than that since friday and monday today falling more again down 0. 8 . Dollar board for you which saw just as remarkable a turn around as the equity market, the dollar was weaker this time yesterday, around three quarters of a percent. Dlart the dollar index by the end of the day, hitting a low of 108. 25, well above that now, near 110 the euro seeing a turnaround, hitting 1. 2060, now 1. 1940 a lot of questions on whether that weak dollar trade overran the course of the first few days of the jackson hole summit and whether it had its weakness and is rebounding again today. About a quarter of percent against the euro gold prices to round things off, up over 4 has not done much this week. Today is just down 0. 2 . It will be interesting to see whether it can hold above 1300 now as traders get more risk on. Turning to houston bracing for more rain as harvey moves back inland. Heres the latest. Harvey is a Tropical Storm, just made landfall west of cameron, louisiana about 500 more people have been evacuated from the texas louisiana coastline. Nine deaths have been reported in the wake of this storm. So far seven were drownings a curfew is in place at this hour in houston as police crack down on looting Authorities Say more than a dozen suspected loot everies have beelooters have been arresd since the storm hit. Sarah dallof has more. Reporter inside houston sherl shelters, sheeeking refuge, a ht meal and neighbors we are thankful were safe. Reporter outside, days of historic rainfall pushing Critical Infrastructure to the limit. Two rez vservoirs that protect downtown houston spillover Houston Police announcing the loss of one of their own he was a sweet, gentle public servant. Reporter Sergeant Steve peres who drowned in his patrol car on his way to report to duty his wife devastated. She tells me i told him not to go to work i didnt want him to go. His response was weve got work to do. President trump offered reassurances to texans on tuesday. This is historic and epic what happened this happened in texas, texas can handle anything. While there have been arrest force loot iarrests for looting, overall things have been orderly rescues continue around the clock. And strangers coming from far and wide to support a region battered but not beaten. That was sarah dallof reporting from galveston, texas. Looking at markets, crude markets, bringing it back to the markets, but forefront is the human story. We saw oil price react much more strongly on friday and monday than yesterday down 0. 8 . The question is does that pick up expectations of how long we have the refineries closed for again. As Brian Sullivan and the team on the ground have been reporting throughout, that is focused on when people can get back to work when the roads open and things like that as opposed to the refineries themselves. The swing factor is is there more leakage in some of those refineries than were aware of it doesnt seem thats the issue. Its been a tremendous move in rbob this week that has not begun to push out to consumers theres now concerns that you will see potential gasoline shortages coming here into the east coast with the Colonial Pipeline shut down about to of Refining Capacity is shut in as the storm moves back into and over louisiana, another 10 could be coming offline with this storm the difference is after katrina, refi refiners tut a lput a lot of infrastructure in place. So i dont think it will take as long as katrina to get back up and running. The longer term is the shale which has not gone through a major flooding event like this what that will do to crude producti production about 15 of crude production in the u. S. Onshore is being impacted by this storm as well if we also pivot into the insurance companies, in general people seem relaxed. That this wont be too damaging. Yes unlike super storm sandy, the last big multibillion dollar event, that was very much a wind event. And it hit in a populated area where this hurricane made landfall, wasnt quite as populated, the wind wasnt quite as much a factor, its now the flooding, which we saw last night were at record levels in terms of rainfall for continental u. S. , more than 50 inches in some areas, a lot of that will fall on to the federal government in terms of Insurance Coverage the companies, the insurers that have the most commercial exposure where theyre covering the Flood Insurance for major commercial clients, thats where you have seen a lot of moves in the stock prices we will continue to keep the market angle covered, but also much more on the important human story to come throughout the show sweching f inthe justice de launching an investigation into uber over u. S. Foreign bribery laws landon dowdy hat details reporter the Justice Department says it is looking into claims that uber violated u. S. Foreign bribery laws. The wall strewall street journ reports that the investigation is in the early stages and is looking at whether uber was involved in bribery. Earlier this month, managers in singapore bought more than 1,000 defective cars, rented them out to drivers only fixing the defect after one car caught fire uber was also found to violate transportation laws in france. This is the third time uber is fielding questions from a federal agency this year, and it comes as they finalize details to bring on Dara Khosrowshahi who will have to step into this. He has been confirmed as taking over and he has a lot on his plate. Quite an exciting inbox, maybe not all positive you want to make a difference. Do you use uber i do. Regularly. I do, too. We saw in the numbers eventually that theyre still growing. Yes significantly on the top line the issue is the cash burn is at an unbelievable rate they make a huge loss. For this stage of a start up, when theyre already at that level of market share, thats the worries factor way worse than the pr issue. Clearly they have not lost customers. The pr issue is an issue they have to clear up but it seems it hasnt hurt them but in shortterm, can they continue to be profitable. Well, we have a big interview later this morning with Shervin Pishevar he will be on squawk on the street at 10 30 eastern still ahead on Worldwide Exchange, a double dose of trade talk theresa may in japan today talking postbrexit trade deals. President trump is headed to the midwest to sell his massive tax reform plan. Weve got both those stories coming up. First as we head out, another check on europe right now. Stick around Worldwide Exchange will be right back riiight. And that means. . Im the money you save for retirement. I help you get organized so your money could multiply. See . Got it. Whos he . Hes green money for spending today. You know, paying bills, maybe a little online shopping. Makes it easy to tell you apart. That, and i am better looking. I heard that. When its time to get organized for retirement, its time to get voya. Chances are, the last time yoyou got robbed. An, i know i got a loan 20 years ago, and i got robbed. Thats why i started lendingtree the only place you can compare up to 5 real offers side by side, for free. Its like shopping for hotels online, but our average customer can save twenty thousand dollars. At lendingtree, you know youre getting the best deal. So take the power back and come to lendingtree. Com, because at lendingtree when banks compete, you win. Welcome back in to Worldwide Exchange. Futures pointing higher. This time yesterday down 150 points or so by the end of the day, the dow was up by 50 that positivity we got yesterday at the close continuing into the open were up by 0. 1 for the nasdaq and dow. S p up just sliktly. Most of asia higher. Most of europe higher bay hay af percent. Wtis slide was more pronounced friday and monday than yesterday. Down 0. 3 yesterday. Down 0. 8 today. The gasoline price continues to move in the opposite direction up 2. 4 this morning breaking news this morning, now Tropical Storm harvey has made landfall again. It touched down west of cameron, louisiana. The National Weather service says flooding rains will douse southeastern texas and southwestern louisiana, about 500 more people have been evacuated from the texas louisiana coastline as harvey doubles back. Lets get to bill karins with the latest forecast. Reporter good morning. The situation couldnt be more dire i think its just as bad now in port arthur and beaufort as in houston. The civic center in port arthur has taken water, cots are floating, people are up in the bleefrps wa bleachers waiting, people have to go to a different shelter there are people asking for help, asking people to send boats or helicopters to locations where people are trapped in their homes, and in some cases on their roofs. We have not seen the worst of the pictures yet once we get to day break here houston is clear of the weather. Last night it was torrential throughout the region. The storm has made landfall. Harvey has made officially its third and final landfall here is the rainfall numbers from beaumont, texas this is why its such a dire situation texans are fighting for their lives now because of these totals in six hours, they had 1 1 inches of rain in 24 hours, 26 inches of rain in one day for the whole storm, now theyre up to about 45 inches of rain. Thats just as bad if not worse than many areas around houston now that the storm will start heading inland t will weaken and spread the rain out throughout many areas of the deep south and then into areas of the Tennessee Valley as we go through thursday, friday, saturday additional rainfall totals will be 3 to 7 inches in louisiana. And then over the next couple days we have to watch our friends from memphis and tennessee. 7 inches of rain could cause flash flooding in the days ahead. I cant stress enough how serious the situation is in beaumont and port author the currents are strong and the water as high as anyone has seen it there are texans fighting for their lives. You said this is the last landfall how certain are we of that and how long will this landfall last the landfall just occurred. Now its not over water anymore, it wont strengthen. It will slowly rain itself out over the next three to four days but there still could be more damage done. Our friends from memphis and western tennessee, be careful. Flash flooding can happen where you are. Bill karins, thank you very much for that. Up next, talking taxes President Trump heads to missouri today to sell his tax reform plan. Were live in washington for the latest on that. And water fight, why the internet is buzzing over a tweet from Michael Phelps. Stick arndou, Worldwide Exchange will be right backms n this is a diamond tracked on a blockchain protected against fraud, theft and trafficking. This is a financial Transaction Secure from hacks and threats others cant see. This is a patients medical history made secure while Still Available to their doctor at their fingertips. This is an asteroid livestreamed to millions of viewers from 220 miles above earth. This is ai trained by experts in 20 industries. Your industry. Hello. This is not the cloud you know. This is the ibm cloud. Built for your business. Designed for your data. Secure to the core. The ibm cloud is the cloud for enterprise. Yours. New deep hydrating eye gel with hyaluronic acid born to outperform the 1. Prestige eye cream for better hydration. And your best look yet. Olay eyes collection. Ageless. I love you, droolius caesar, but sometimes you stink. Febreze car vent clip cleans away odors for up to 30 days. Because the things you love can stink. Were drowning in information. Where, in all of this, is the stuff that matters . The stakes are so high, your finances, your future. How do you solve this . You dont. You partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. Morgan stanley. Prem theresa may meeting with shinzo abe today. Joining us on the cnbc news line from japan, Robert Wright from the Financial Times two issues for these trade talks. One is the idea that we talked about before, its hard for the uk to negotiate fresh trade agreements when they have not separated from the eu yet, but also both leaders areer positioy than in the past so it undermines the whole idea of the talks. I think for theresa may the idea is that this visit was going to get her prime ministership going again after a difficult summer she had, as you recall, a general election in june which she called to strengthen her majority, she ended up losing the majority so this is one effort shes trying to make to get things going again. Shes hoping that a positive set of meetings with shinzo abe here in kyoto and tomorrow in tokyo will provide the image that shes getting things going, that brexit wont necessarily be just an economic cost, and that wider parts of the world do want to do business with the united kingdom. Just to touch on whether theyll be discussing the north korea threat were focused here on what trump has to say about it in terms of his push back against north korea. What is the british position what has theresa may said so far . On the flight over, theresa may came and spoke to us, the rov reporters traveling with her she made it clear she wasnt ruling out tougher sets against north korea, and she was also saying as many people are saying that really the onus has to be on china to crack down on north korea. But she has, i think, all along she would have been stressing the uks Security Cooperation with japan in these talks. But that has become a significantly more important part of the talks. She will become only the second foreign leader to address chinas or Japans NationalSecurity Council tomorrow in tokyo. That was always going to be an important part of the talks. Probably becoming much more important now. Robert, thank you very much for joining us Robert Wright of the Financial Times. Trump is headed to missouri today to sell his tax reform plan tracie potts is live in washington with the latest reporter second day on the road, morgan good morning the president wants congress to overall, completely rewrite this nations tax code. Its been 31 years the question is with so many things on the table, the debt ceiling, the budget, can congress get it done reporter this afternoon in missouri President Trump makes the case for tax reform. Promising to boost the economy by lowering rates and getting rid of deductions. Critics call it a giveaway to the wealthy. Much of the detail will come from capitol hill where lawmakers face a full agenda is there time to deal with taxes . Yes there is. Reporter President Trump may have to do that. A date has been set for his son, don jr. , to testify privately before the Senate Judiciary committee on his meeting with the russian lawyer investigators want to know if President Trump knowingly created a false statement about that meeting why did they want to put out a false story that it had do with russian adoptions when it had to do with sanctions. Reporter the white house story kept changing. He weighed eed in, offered suggestion like any father would do reporter its unknown which day trump junior will testify. They set a date but have not made it public is it typical that the president kind of gets back on the road, gets his political and legislative agenda back on track in the midst of an issue like this, a National Issue like Hurricane Harvey its a good question. The thing here is that theres a limited amount of time to deal with in terms of the ajnd da and what they want to try to get done in september. This time, unlike healthcare, republicans are trying to get the president out there so he cant blame them on the back end if it falls apart. Tracie potts, thank you very much still ahead on Worldwide Exchange, a round of todays top stories including the latest aftermath of Hurricane Harvey. As we head to break a check in on currencies this time yesterday the dollar weak by the end of the day, the dollar index slightly higher its continuing that today, higher against the yen and euro. Not doing much against the pound. Back with more Worldwide Exchange. During your period . Its up to you, with tampax pearl. You get ultimate protection on your heaviest days, and smooth removal for your lightest. Tampax pearl. And pocket pearl, for on the go. Harvey doubles back. The storm making landfall again, this time in louisiana a live report from the gulf coast coming up. And refineries hunking down in worsening weather how thats weather ighing on gae prices and President Trump talks taxes. Well tell you what to watch in his speeches today its august 30, 2017, youre watching Worldwide Exchange on cnbc good morning. Welcome to Worldwide Exchange. Im wilfred frost. Im Morgan Brennan in for sara eisen. Lets get to the global picture after that extraordinary turnaround yesterday right now u. S. Equity futures poised to open higher again today. The s p posed to open up 3 points the dow up 43. The nasdaq up 15 points. As you mentioned it was an extraordinary turnaround yesterday. All three of those indexes closed higher, led higher by industrials, most notably names like United Technologies which were seeing more reports that theyre closer to acquiring or trying to acquire rockwell collins. But it looks like this rally will continue. If you turn to other markets around the world, we are seeing the relief rally play out in asia and europe as well. We are indeed well get to more of those markets and other asset classes. Lets get the latest on harvey which is a Tropical Storm. In the last hour it made landfall, just west of cameron, louisiana. About 500 more people have been evacuated from the texas louisiana coastline as harvey doubles back. Nine deaths have been reported in the wake of the storm a curfew is in place in houston as police crack down on looting. More sththan a dozen suspected looters have been arrested since the storm. Contessa brewer has more for us. Good morning reporter because of the threat of looting and other crimes, the mayor imposed a curfew, were under it now, and that will remain until 5 00 a. M. There is no call for rain today. That will give houston a much needed break inside this shelter, the residents inside has declined, down to about 8900 residents inside the Convention Center on some of those may have moved over to the Toyota Center which has capacity for 5,000 people. And the nrg center, capacity there 10,000 people and theyre asking for the supply. The Houston Rockets owner, Leslie Alexander said he is donating to 10 million to relief efforts thats money desperately needed. I saw that yesterday on a ridealong in neighborhoods northeast of houston a tiny slice of the overall massive geography thats been affected by Hurricane Harvey and the rains that followed. Widespread flooding, desperately poor mobile home parks newly built homes in areas where the rents would be much higher under water. Volunteers in boats and jet skis, going in and still finding people who needed to be rescued. In some cases simplay becauy be they had run out of food we watched them being brought to a rendezvous point, loaded on to box trucks and sent on to shelters at that staging point, good samaritans, businesses showing up with food to feed the victims and rescuers First Responders in particular are working hard. Were trying to make sure he would feed t we feed them. We had chicken wings, so we brought them we have also heard warnings about people posing as government officials, as Homeland Security or fema going and knocking on doors, telling people to clear out so they could inspect their houses what we know is that they say if Government People are showing up, its not for law enforcement. Its for rescue and relief efforts. They will have identification with their name and picture on it you mentioned the looters at the top, texas law allows sentences for thievery to double during disaster well keep our eye on that contessa, happy to see youre safe and sound and dry right now. You covered Hurricane Katrina as well what have the relief efforts so far with harvey been like compared to katrina . Have folks start of learned their lessons from the slow response we saw after katrina . I have to say the response here, though chaotic at the beginning, was a massively highly coordinated effort. And that people who came inside this Convention Center, even at the height of activity yesterday, that they were aware that they needed to figure out a system so that of neighborhoods, for instance, youre in a massive place with crowds of people, its easy to get lost so they had to create addresses inside the Convention Center so that families knew how to get back and return to families. They set up a missing persons station so that children separated from families could be found. It was a completely different situation from the one we saw in katrina. It has been impressive i have to tell you, it looks today, now that the skies are clearing, we saw the water actually receding, flowing back into the waterways out with the crew last night. Its going to be very soon that were seeing houston back to work contessa, thats great to hear thank you for the coverage Contessa Brewer there. Even though the situation is slightly improving, we should point out that the storm made landfall again in louisiana. The whole Tropical Storm has not passed the United States by. Asian equities rebounding nicely today they did decline yesterday, but not too severely they missed out on that u. S. Trading day rally that we saw here hong kong up 1. 2 . Europe similar kind of fashion it did catch a rebound yesterday, but not much. The dax still down 1. 5 . So were getting about a half percent rebound across european markets. As for the broader markets f we turn to the treasury market, the yield there ticking lower, 2. 13 on the tenyear treasury note looking at oil oil under pressure really all week with Hurricane Harvey wti crude trading about 46. 16 right now. Of course the reason were seeing this is because so much Refining Capacity has been shut in, in the gulf coast because of this storm the expectation is theres going to be a lot of supply, not a lot of demand, at least in the nearterm. Nonetheless weve seen rbob, the gasoline future, making big moves to the upside this week. That has continued today looking at other energy contracts, ice brent is also lower. Thats at 51. 54. Turning to gold. Looking at gold, thats above 1300 an ounce. 1,316 for gold there seems to abibe a risk off sentiment. So gold is slightly lower. Turning to the dollar, looking at that. After weakening against our currencies, more than a 2 1 2 year low against the dollar index, it is stronger this morning. Stronger against the euro, against the yen and against the pound. Lets talk more about currencies joining us is the managing director of fx strategy at bk management, kathy lien what an extraordinary turnaround in the space of 24 hours for the u. S. Dollar i think the dollar against the yen hit a low of 108. 25. The dollar hit a high against the dollar of 1. 2060 we moved away from those levels already what drove that turnaround has it marked in the shortterm the bottom for the u. S. Dollar were now in an upward trend the u. S. Dollar took its cue from u. S. Stocks u. S. Stocks have proven to be extremely resilient. Theres a strong correlation between the s p as well as the dollar index and so when stocks started to move upwards, shed their losses and turn positive, we saw the same with the u. S. Dollar. On a fundamental level, first and foremost we had anxiety over north Korea Tensions the response from the Trump Administration has been benign there was no use of those key words, fire and fury or locked and loaded so the markets now are look beyond that. Trum p is focused on hoougs eus. When we get talk of tax cuts, that is always positive. So investors are looking beyond that wlifrnlgts did the u. Why did the u. S. Dollar in the first place move south on the potential missile tests from north korea over japan and the yen move higher . That makes no sense whatsoever if the asian region is under threat that the yen is the safe haven and the dollar is the riskoff trade to sell thats a very good question i think theres confusion between investors moving into safe haven currencies and also offloading some of their risky assets theres two types of buying, one is to initiate new positions which is not what we saw after north korea launched those missiles, we saw them abandoning investments and closing down short yen trades so reversal led to weakness in dollar yen so there was nervousness, anxiety and it should have lasted clearly investors are looking beyond that because of the benign reaction so far from the Trump Administration lets talk about the euro even though the dollar is stronger against the euro today, weve seen a big move in the euro just yesterday at 1. 20. Strongest level against the dollar since january 2015. It was just the beginning of the year when people were talking about potential parity between these two currencies how far can it go in terms of strengthening against the dollar the beginning of the year there were a lot of political factors in the yureurozone that made investors nervous but the European Bank has been hawkish. They have been telling us theyre comfortable with euro around 1. 20. Policy needs to be moved towards normalization. And the fed sounds wishywashy and for good reasons, between Hurricane Harvey, the debt sealing debacle and u. S. Data, theyre not convinced a rate hike needs to happen in december thats dynamic that has pushed the euro higher. Kathy, thank you. Lets move on to the top trending stories jj watt raising a 5 million for Hurricane Harvey relief fund the Houston Texans player beagainbegan the campaign over the weekend. The owner of the Tennessee Titans made a Million Dollar donation watt has a goal of 6 million one of many privately driven and inspiring fundraising initiatives. Hes raising so much money, so quickly that he has to raise the goal bar really good. Encouraging. Very encouraging, as are lots of these efforts Conor Mcgregor could be facing another battle of a lifetime Michael Phelps challenging the usc fighter to a swimming match. Mcgregor has yet to respond. This spawned off an snl joke that mcgregor should fight the shark that phelps supposedly swam against we would hope this is an actual competition unlike the terrible fake shark swim, which i didnt even watch but everyone that i know that did said it was the biggest scandal of all time. They teased it up and it was a Computer Generated shark disadisappointing for someone who is such a hero, why did he do that again i think thats why its the same thing with the mcgregor may weathweather e, its the build up to the event, and then the fight is anticlimatic. Different when the shark is Computer Generated undoubtedly now you have the scuttlebutt that maybe this big fight over the weekend was not exactly unplanned. If that comes out that would be a bigger scandal betting companies and tv companies would have to return all sorts of money its just rumors on twitter, compared to scandalous from an olympic legend to sell himself out like that. I know this is not todays story, but it annoys me. This is why its trending well see what happens. Im sure mcgregor will respond either way he likes to voice his side of the argument, whatever the argument may be. Barack obama and joe biden may be getting their own tv series adam reid launching a Kickstarter Fund to start barry joe. The kickstarter is trying to raise 100,000 by the end of the month for a mini 11minute pilot episode. The company has around 80,000 it looks like that could be on its way. Would you watch it . I watched an 11minute pilot. I dont think its aimed at our generation s it . Aimed at kids, no . I dont know. Everyone. Theyre not raising money there kids no. Most cartoons that profit from kids raise money from kids. Still a business investment. I know a lot of adults watch cartoons ill check it out but im not throwing money at it. Even if its rude to call them barry joe, isnt it former president and Vice President . We just said it. Its a cartoon. Still to come, the must reads. A look inside President Trumps hurricane response why one writer said he set himself up for success on this one. A quick check of oil prices, lower by 0. 7 for wti. Werba in e cka couple minutes i love you, basement guest bathroom. Your privacy makes you my number 1 place to go number 2. I love you, but sometimes you stink. Febreze air effects doesnt just mask, it cleans away odors. Because the things you love the most can stink. And try febreze small spaces to clean away odors for up to 30 days. Breathe happy with febreze. If they knew just howers rich they were. Ed the average American Home value has increased 40,000 over the last 5 years. But many dont know you can access that money without refinancing or selling your home. With a home equity loan, you can pull cash out of your house for anything you need home improvement, college tuition, even finally getting out of credit card debt. Come to lendingtree. Com to shop and compare home equity loans right now. Because at lendingtree, when banks compete, you win. Welcome back to Worldwide Exchange. Time forev our mustread stories my pick is in the wall street journal, Nuclear Missiles over tokyo. Andeditorial board writing the japanese cant have their survival depend on a faithful ally some japanese politicians are already talking about their own nuclear deterrent. This prospect should alarm china which would face a Nuclear Armed regional rival the reason they bring that up is not to think that it would push, but the fear of seeing more of asia arming themselves with Nuclear Weapons if, as it seems, the u. S. Cant contain north koreas ambitions if they reached a fully fledged nuke la weap nuclear weapon, so a fearful take certainly in the meantime we are seeing both of those countries move to beef up Missile Defense. Japan said it will upgrade its patriot system from ratheon. And its looking to do egis assure, the Missile Defense system on ships, but theres a landbased one theyre looking to instale thl t even at peak of the u. S. Fear yesterday in dollar markets, 12 to 18 sorry, 24 to 30 hours ago the nikkei fell only a half percent. In the region less than some people over here interpreted it. Its up today mmhmm. My pick is in the wall street journal. Trumps reassuring hurricane Response Form fo writing beyond the white house mr. Trump still lags in filling political appointments but appears to have prioritized the right ones he made nominations for about half the slots for Homeland Security, more than most departments. Some nominees await Senate Confirmation hearings. Mr. Long previously served as alabamas head of Emergency Management hes been a reassuring and takecharge presence this gets back to the point that Contessa Brewer was making on the ground the response efforts thus far in the midst of Tropical Storm harvey have been much faster seems like were learning from some of our past mistakes in how we responded to previous disasters like this. Its also interesting in this article he talks about the fact that after a series of gaffes or crises or issues with this administration, that right now the biggest criticism is that the president has been tweeting about or was tweeting about things unrelated to the hurricane. Yeah. Hater also still hate. Theres little minor points within his performance yesterday, some comments about clothes of his wife and things like that which people will comment on, all in all, taken together, trumps reassuring hurricane response, and that title captures this. In the midst of this there was a measured response coming out on north korea. Well see if that continues today. Hes back on the stump talking about policy agenda. Well see if he sticks to the script all in all, i think got to step back and say that was fine he wasnt the lead story yesterday. Still ahead, the data dock wet picking up steam as we near fridays jobs report later this morning, dont miss Warren Buffett joining becky quick on squawk alley. Dont miss that. 11 00 a. M. Worldwide exchange is back in a couple minutes good morning to you, thank you for joining us lets talk about that extraordinary bounce back we saw yesterday. Was it predicated on an early overreaction to the latest north Korean Missile tests is there something more that we should be digging our teeth into that suggests we have a rally to continue i think some of the Economic Data was supportive. We saw the second or third highest print in Consumer Confidence from the confidence board at 122 the prior cycle high was 124 some of that data was good i think the markets do want to look past some geopolitical risk theres so much liquidity in the market that unless something jars the markets significantly, that lick question tiquidity tad people buy the dips. From lets talk about the impact of Hurricane Harvey. Theres a developing sentiment that perhaps the Federal Reserve wont raise rates one more time before the years end on the heels of this catastrophic flooding it seems to me that look at past natural disasters, those are always been inflationary events. Do you think the fed raises one more time. Yeah. This could give us tailwind in the inflation data probably through the transition mechanisms of higher gas prices. Straight to the pump if you look at past hurricanes, you get a dip in economic activity, shows up in q4, late for q3 right now but what you see is an initial spike in jobless claims and then a reduction in retail sales, Industrial Production and some housing data likely. As we move into the fourth quarter. The payback comes in q1 of next year as the optimism builds on the rebuilding of that area. About 30 seconds left. Has the dollar hit the shortterm low yesterday dont think so it will go lower the trends point that direction. The concerns around the debt ceiling and the spending bill has things favoring the euro economy now over the domestic economy. Thank you very much for joining us Darrell Kronk of wells fargo thats it for Worldwide Exchange. Squawk box is coming up. Warren buffett coming up live. Causing a lack of sharpness, or even trouble with recall. Thankfully, the breakthrough in prevagen helps your brain and actually improves memory. The secret is an ingredient originally discovered. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. The name to remember. Throughout history, the one meal when we come together, break bread, share our day and connect as a family. [ bloop, clicking ] and connect, as a family. Just, uh one second voice guy. [ bloop ] huh . Hey . I paused it. Bam, family time. So how is everyone . Find your awesome with xfinity xfi and change the way you wifi. Tropical storm harvey making landfall in louisiana this morning. The state bracing for tornadoes and flooding texas residents are trying to get a handle on how much damage the floodwaters have caused. North korea threat the u. N. Condemning yesterdays missile launch, but kim jongun says the test was the first step. And its jobs week in america. Theyll get it done by september 1st. Interesting. Thats friday what to expect from friday by looking at the adp data, which comes out today, wednesday, august 30, 2017 squawk box begins right now. Live from new york where business never sleeps, this is squawk box. Good morning, Everyone Welcome to squawk box on cnbc. We are live from the Nasdaq Market site in times square. Im becky quick along with joe kernen and melissa lee weve been looking at the u. S. Equity futures, things have been higher after the market turned around yesterday this morning futures are indicated up again the dow futures up by almost 40 points s p up by close to 3 nasdaq up by 12. Overnight in asia, youll see that in japan, the markets were higher there as well even with all of these concerns about that missile fired over japan. You can see the nikkei up by 0. 3 the hang seng up b