Im sara eisen im dominic chu sitting in for wilfred frost. A lot of news to talk about today. Another record high for stocks another day, another record high lets check in on the global markets. Futures action for you, on this jobs day, as for futures were seeing a mixed picture dow futures up 10 points s p down 1 nasdaq futures are up 3. As for the tenyear treasury note yield, hovering around this 2. 30 level on the tenyear we have moved higher, 2. 37 theres been a series of good Economic Data thinking services, which is a broad swath of the u. S. Economy the manufacturing number recently was the highest in years. All of that has driven money out of bonds and pushed yields higher we will talk about that in the context of the jobs report lets talk about the asian market the market in Mainland China was closed today you can see the other major bourses out there, japans nikkei up by a third of a percent. The hang seng in hong kong, up by the same amount the kospi up bay full percent. As for whats happening in europe, we saw action with regard to the coattails and the Catalonian Referendum in spain check out whats happening the dax just about flat. The cac in france off by a quarter of a percent the ftse 100 up by 0. 1 . As the european markets look to stabilize on this friday as for the Broader Market picture, oil prices this morning, show you where they stand. Hovering around the 50 a barrel level still. Thats where weve been all week 50. 62. Brent showing some strength, up 0. 2 , 57. 11. As for the currency, the u. S. Dollar is not far from a threemonth high this has been a change in dynamic. Stocks going higher along with the u. S. Dollar on better data and political concerns the euro 1. 1696. The dollar is firmer against the yen. Bangon flat at 113 as wilfred would say. The pound is weaker. It has been weak on the political uncertainties. 1. 3078 gold has reacted negatively to the stronger u. S. Dollar that continues. The u. S. Jobs report will be the front and center focus of wall street today. The september jobs report is out at 8 30 a. M. Eastern time. Nonfarm payrolls forecast to rise by 80,000 die to the impact of hurricanes harvey and irma. The Unemployment Rate is expected to hold steady at 4. 4 . In addition to the jobs report, look for august wholesale trade at 10 00 a. M. Eastern time and Consumer Credit at 3 00 p. M. Well hear from several fed officials today plus Steve Liesman has an exclusive interview with dallas fed president rob kaplan he will join squawk box today after that jobs report comes out at 8 30 a. M. Eastern time. I dont think the jobs report is that big of a deal because of the Hurricane Impact a lot of people expecting that to actually dampen job creation. The expectation for 80,000 that tells you something is messy they already factored those numbers in but the real question is whether or not there is a bounce back trend overall next month sure. But as you said, another storm barrelling through the area its a weak number, please just write it off as a Hurricane Impact costco reporting better than expected results the company beating on the top and bottom lines and sales topped forecast, but the stock down 2 . Courtney reagan is here. Costco has been a story thats been strong, but a couple nuances analysts are worried about. One is the membership renewal rate thats a big part of costcos Business Model and the revenue stream and for the business, its strong the business renewal rate is 94 . For the gold members, sort of your average member, that renewal rate is 89 . Costco trying to explain it away saying we opened a number of new stores, you will pull in people this way it lowers the average per store. Dont worry about it analysts are worried about it the valuation is quite high. Its been a winner in the space for a while. You mentioned new stores, but sales at existing stores maybe didnt meet certain analyst expectati expectations thats true the expectations have been high because theyve been outperforming. Its interesting to see traffic is up in the stores. Samestore Sales Numbers are strong if you look at just september, exfuel, it was the strongest result since april of 2015 there is a lot to like even if you point out some of those negatives. Ecommerce is something that costco needs to work on. It got better for september. They made some improvements to the website, making search better, adding merchandise it sounds simple those are some plycomplicated things to do online. They do have an impact i cover kroger, they get asked all the time about whole foods. Does costco worry about it they talked about it and they talked about why theyre still strong, they said we looked at prices, were still lower than that they both have membership models and existed together for a long time well see what happens costco tries to explain it away as kroger does they all have to. Courtney reagan, thank you. Some of the stocks to watch today in addition to whats happening with costco, yum chinas Third Quarter earnings missing forecasts. Revenues did beat. Samestore sales rose 6 the fast food chain also the ceo who has led the Company Since the spinoff from yum brands total will be stepping down. He will be replaced by yum chinas coo. Disney and altice finalized a deal to keep espn and other channels in millions of households in the new York Metro Area disney threatened to pull from optimum Cable Services before the two sides reached an agreement. And calstrs says they will support the nomination of nelson peltz to Procter Gambles board. Calstrs has been an investor with peltzs firm since 2011 another Cincinnati Company a big boost for peltzs effort. Bayer halting a phase three trial drug of xarelto. It showed it was no more effective than lowdose aspirin in preventing strokes in patients it has been approved for preventing strokes due to an irregular heartbeat. Anyone anyonintendo is ramp duck shun of its switch game console due to Strong Demand it could ship up to 20 Million Units this year. General leak electric looking to shave did billion in costs by next year the move following the elimination of the ge jet fleet last month. We have a Nobel Peace Prize winner the International Campaign to abolish Nuclear Weapons winning the prize. That announcement just made in oslo. President trump offering a cryptic message about the future during a photoop with senior military leaders and spouses heres what the president said last night at the white house. You guys know what this represents tell us, sir. Maybe its the calm before the storm. Whats the storm . Could be the calm before the storm. What storm, mr. President youll find out calm before the storm its not exactly clear what the president meant by those comments nbc news has reached out to the white house for further clarification. What on earth could he be talking about . North korea . Iran theres a lot of storms out there possibly brewing were also following a developing story out of the gulf of mexico, where voluntary evacuations have been ordered for parts of louisiana as Tropical Storm nate takes aim. Another one to watch lets get to bill karins with the latest on nates path. Hurricane center gave us their new update forecast has not changed thats bad news for the northern gulf coast still a weak Tropical Storm. Came off the coast of honduras we will watch it today heading towards cancun it goes over the gulf saturday the landfall timing has been moved up this storm will be flying. It moves quickly landfall sometime after midnight into early, early sunday morning. Storm cone of uncertainty includes new orleans, biloxi and mobile Hurricane Center has it as a category 1 hurricane you expect minor roof damage and issues with storm surge. Then we take whats left of that storm and rain and bring it up through tennessee and southern new england. As far as the watches go, these were not changed hurricane warnings later today the biggest concern is storm surge and the wind as we look for louisiana and mississippi, those are the target areas thank you, bill karins. Coming up on Worldwide Exchange, were going global. Imf director Christine Lagarde making comments about Global Growth her latest outlook straight ahead. As we count down to the jobs report, were looking at where the jobs are and how the Blockchain Technology could be the latest thing for t uhe. S. Labor market stick around more Worldwide Exchange coming up 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. 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. Welcome back to Worldwide Exchange. Lets get you up to speed on the market action. Were continuing a current trend that weve seen with regard to the u. S. Markets down or up just slightly in the premarket that carries over into just these series of incremental record highs for the overall market the s p showing up down by 1 point. The dow jones up by 9 points the nasdaq up as well. Europe could help set the tone today for u. S. Markets the dax just about flat. The ftse 100 flat as well. The cac in france down 0. 2 . Stability there, everyone watching whats happening in the aftermath of what will happen with the Catalonian Referendum back over to you the International Monetary fund likely to upgrade its outlook for Global Growth when it releases its forecast for next week. Thats according to christine regard i got a chance to sit down with the managing director of the imf and asked her how long shes expecting this global coordinated pick up in Economic Growth to last lets hope it lasts as long as possible what were certain of is that its really taking roots, and its not just a little shortlived cyclical moment we are seeing it coming from about 75 of gdp in other words, its not one country leading the charge, its not only the emerging market economies that used to be the case its europe, its the united states, its japan, and its china, of course and india plus a few other countries on that upgrade to Global Growth that she hinted about, i asked what makes her so optimistic now about what shes seeing down the road the sources of growth are comforting us in that direction. Much more investment than we had seen before. It used to be very much driven by consumption, consumption, consumption. Were really seeing now investment in many corners we are optimistic that good reforms in some countries will also push that momentum forward. Were clearly seeing a determination by the authorities in china to accompany the growth to stabilize it and accompany it theres clearly a revival in india. Be sure to catch my entire interview today on squawk on the street. I have covered the imf for the last, i dont know, ten years. This is the most optimistic ive heard them its interesting that theyre so robust about whats happening not just in the u. S. But globally they put out this Economic Forecast they do it every few months. Its been downgrade after downgrade after downgrade after the financial crisis, whether its uncertainty around fiscal cliffs in the united states, the latest burst of the debt drama over the years concerns about china the collapse in the commodities. Weve been through these periods. Its led to a downgrade in growth here they is talking about how were starting to see investment come off the sidelines, its not just driven by consumption, giving props to the chinese leadership about controlling and managing their economy we talked a lot more about some of the risks that lie around the corner what shes most worried about. Youll hear that on squawk on the street. And we talked about janet yellen who could be the next fed chair, what the challenge there will be we talked tax reform the imf has done a ton of work on fiscal policy shes calling for more structural fiscal policies in the u. S. And other countries, she goes through what she likes and doesnt like you spoke about financial crises there is a sense from the world bank and imf some governments are not doing as much to prevent the next financial crisis. There are certain things there i cant wait to see the full content of the interview there will be so much to talk about. Absolutely. The strong Global Economy that regard mentioned could be fuelling this global stock rally. Look how things are stacking up this year for the major markets. The u. S. Is up 14 china is up 29 . Brazil up 28 . India up 19. South korea and mexico up double digits lets bring in the Financial Times new editor, peter spiegel. When we look at some of these markets, we talk about the strength in the u. S. Maybe lost on some of the investors out there is this idea they can go anywhere around the world right now and find some kind of robust economy is that really the case . Yeah. As sara mentioned this is years after europe was seen as the sick man in the Global Economy we have seen indications that here in britain in particular and in the eurozone, which has been damaged for years because of the crisis, suddenly were seeing the real economy grow i would say the one caveat, you know, we still are in the precipice of the end of the biggest experiment in Monetary Policy in human history. The great unwinding is about to begin. Though a lot of this free money pushed into the economy the last four, five, six years is having real growth potential, we have to realize this is a major risk. Im not sure the Financial Markets it sounds like even christine regard what weighed that in. Well get the bank of england, the ecb and the fed, theyre all either going to start unwinding qe or raising rates in concert with each other. Thats going to have a huge impact on the ability of corporates and individuals to refinance, and actually continue with capital investment. So that is still n my mind, the major hanging dark cloud out there. Heres how she attacked this one. Ill give a bit away before the interview. What she would say is that theres still a lack of inflation in the Global Economy and Central Banks still need to be in easy policy mode, even if they are starting to think about normalization. The other point she made was whoever comes after janet yellen, whether its janet yellen or one of the other contenders in the Celebrity Apprentice of the Federal Reserve chairmanship, that their biggest challenge is going to be communication. They will have to proceed with normalization, shrinking the balance sheet, raising Interest Rates. Because gel hahn been janet yelo effective t hasnt disrupted markets. She laid down the policies pretty well, pretty far in advance and look at the market Christine Legarde has been dovish for quite some time we will get a whole lot of people who we dont know who they are yet not only communication but policy will be a question mark in washington. We will also get a new ecb president. We have despite the u. S. And Christine Legarde have been pushing for soft money policies, draghi has been saying this is hurting german savers, going to lead to inflation. In britain as well, were hearing noises theyll raise rates. Though theres a lot of talk about smart money, youre getting hawked with the traction that could still be out there in the Fourth Quarter because we will see some of these banks communicating on this this month and in november and december the macro data points will be something to watch weve been warned that was quite a warning exactly right thanks, peter spiegel. Coming up next on this jobs friday, how Blockchain Technology could be the next big thing for jobs were headed to the front lines. Thats straight ahead. Later, calling bull. The big hypocrisy at the wall street firm behind the fearless lrl statue. Wel explain when Worldwide Exchange comes right back 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. Okay, iunderwear thatsd say this, bactually pretty. Er leak surprised . Its called always discreet boutique. It looks and fits like my underwear. I know what youre thinking. How can something this pretty protect . Hidden inside is a super absorbent core that quickly turns liquid to gel. For incredible protection. So i feel protected. And pretty. New always discreet boutique. Im val. The orange money retirement squirrel from voya. I represent the money you save for the future. Whos he . Hes the green money you can spend now. Whats up . Gonna pay some bills, maybe buy a new tennis racket. Hes got a killer backhand. When its time to get organized for retirement, its time to get voya. Welcome back to Worldwide Exchange. The countdown is on to the september jobs report as we do every jobs friday, were on a mission to find out where the jobs are today were finding them in Blockchain Technology. Kate rogers is here with more. Good morning. Ibm has a team of more than 1500 workers around the globe working on blockchain now and the company is looking to fill 1 50 more roles as it continues to expand in what some are calling a technology that could be as transformative as the internet itself ibm is betting big on the future of blockchain. The company is putting the technology to work in financial services, retail and transportation streamlining operations for customers when you think of making the complex very simple, thats what we look to do in both technology and business. Reporter in fact, clients are now coming to ibm to figure out how to implement blockchain. Theyre working with some of the leading food suppliers like walmart to help address food safety challenges. Its still a complex network getting, lets say, a mango from the farm to the fork lots of exchanges in there that causes challenges and trouble with regard to food safety. Reporter ibm is looking to add more talent to its blockchain ranks and having a background in this technology is not Social Security sa not necessary. We look for people to look and think creatively and meeting the clients outcome with blockchain, not blockchain finding an answer within the client the company has Training Programs within ibm for those who express interest in pursuing a career in blockchain they also hiring more new colla workers who may be coming out of the military and training them in Blockchain Technology what are real World Business partnerships developing . I think its interesting what ibm is doing with walmart. They gave that mango example, from farm to fork, it used to take hours to track that and now they can do it in six seconds because of blockchain. Such an interesting, practical use. It has expanded far beyond the dark web up next a round up of the top stories, including theatt leson Tropical Storm nate. Stick around, Worldwide Exchange will be right back jobs, jobs, jobs, thats front and center on wall street today as we await the september jobs report. And the rally rolls on stocks sitting at record highs as we all await that important jobs report. Well have your trading day set up straight ahead. And calling bull the wall street firm behind that fearless girl statue, they may not be practicing what it preaches well explain. Its friday, october 6, 2017, youre watching Worldwide Exchange on cnbc. Welcome back to Worldwide Exchange. Im sara eisen im sitting in for wilfred frost. Lets check whats happening with global markets. Were Holding Stable here. A current trend that continues on today with the markets showing some marginal losses to start the day ahead of that big jobs report. The s p looks like it will open down by a point. The dow down about ten 2. 37 for the tenyear weve seen a trend for the last week and a half of rising rates. That jobs number and Interest Rates front and center. Mainland chinas market was closed today as for the rest of asia, green arrows across the board. The nikkei continues to surge higher it is liking that weaker japanese yen hong kong also continues to be a strong market in asia. As for the early action in europe, lets show you the trade there. Spain has been an underperformer on some of this political turmoil as catalonia plows ahead with its declaration of independence well see how that works out german dax is higher this morning. Just barely. Fractional moves france is down the pound is weak. So the ftse 100 goes higher off the weaker pound helping the exporters. Relatively stable market there in europe. As for the bigger macro markets, the Broader Markets, check out whats happening sara said whats happening with currencies euros are losing strength against the u. S. Dollar. 1. 1698 is the last trade there dollar yen at 113. Pound sterling, 1. 3065 u. S. Dollar strength across the board for some major crosscurrency pairs as for how that affects gold prices and dollar strength, you might see gold weakness and weakness in other commodities. As for oil prices, certainly weve been seeing that 50 a barrel mark for west texas intermediate, 50. 55 for the last trade. As for ice brent crude futures, that world benchmark, just about flat now 56. 94 we are keeping our eye on Energy Prices as Tropical Storm nate closes in on the gulf of mexico voluntary evacuations have been ordered for parts of louisiana forecasters say the storm could strengthen into a hurricane before it makes landfall this weekend. The u. S. Job market will be front and center for many investors and traders on wall street today the september jobs report is out at 8 30 a. M. Eastern time. Nonfarm payrolls forecast to rise by 80,000 due to the impact of hurricanes harvey and irma. The Unemployment Rate is expected to hold steady at 4. 4 . Lets talk more about the big jobs report. Joining us is david rosenberg, chief economist and strategist over at gluskin shiff. Are there things youre looking for to see if this economy is on track . I think this is one report where you probably dont want to pay much attention to the headline irma hit just as the survey week was taking hold. You know, we could get a very, very weak headline one forecaster is calling down 45,000 it could be a negative i would say look through it. Look at the factors beneath the veneer that wont be influenced by the weather so, you know, you mentioned the Unemployment Rate. Thats still very front and center as far as the fed is concerned because of their worries over the labor market being too tight. I think the biggest number is the wage number. When we got the august data last month, it came at a plus 0. 1 once again drove a hole in the view that well get wage inflation. If the number comes in 0. 3 or higher today, thats going to be a validation for those still saying the phillips curve works and the only thing preventing the tight labor market feeding through into wages were lags today maybe the wage number, Unemployment Rate and work week. Have you been surprised as someone who has been looking at some of the less robust pockets of the economy and warning that expansion has been coming to an end, have you been surprised to see the surge in Manufacturing Activity and services we got recently i was saying based on our research that we were 90 through the cycle. I was not saying that the end of the expansion was next month or next quarter, i was saying by the end of next year and to be treating this in your portfolios as late cycle. Look, the survey data, once again, like we saw after the election last year, the survey data are ripping to the high side the real side data are not doing as well. Theres no question that the latest numbers on capitol goods ord verse improers have improve. We got soft Consumer Spending numbers, very soft real personal income numbers a lot of Consumer Spending growth was driven by credit and a draw down in the savings rate, not by organic Income Growth i would say look whats happening now, its reflected in the markets. Sentiment is improving you know, the trump reflation theme is back on since that blueprint came out a couple weeks ago. We have a situation now, as you saw with the auto sale numbers, theres a view the hurricanes, the rebuild and repair phase will be stimulative for growth over the nearterm the view shifted that hurricanes are positive for growth. The trump relation trade is back on the one area doing well and accelerating are the data coming out of asia and europe so i think all these things, you know, connected with the fed, increasing optimism that theyll hit inflation target, that the economy will do fine, thats showing up in sentiment numbers. Is inflation really picking up sarah spoke about it with Christine Lagarde at the imf, its ban concern, even though rates are rising, Inflation Expectations are not rising along with them. I would tend to agree with that the only areas of inflation that have shown pulse have been the commodity complex and oil coming back from egregiously low levels. My sense is when you look at the underlining numbers, even if you strip out the idiosyncratic developments, even as John Williams of the san france f fed pointed out yesterday, the dispersion indices are still trending lower underlying inflation is still trending lower but you see we dont have a fed thats data dependent anymore. The fed used to be data dependent. The fed is now forecast depe depende dependent. Its following the forecast that down the road well hit our inflation target down the road, the economy will be fine. I think well set ourselves up brilliantly for a policy misstep and the fed overdoing it on the tightening cycle in the next 12 months thats a big call well see what happens and who is leading that charge at the fed over the next 12 months stocks to watch today, costcos Fourth Quarter profit edged past forecasts helped by higher membership fees yum chinas Third Quarter earnings missing forecasts revenues did beat. Samestore sales rose 6 the fast food chain also the ceo who has led the Company Since the spinoff from yum brands total will be stepping down. He will be replaced by yum chinas coo. Disney and altice finalized a deal to keep espn and other channels in millions of households in the new York Metro Area disney threatened to pull from optimum Cable Services before the two sides reached an agreement this past weekend. And we have a news alert, the Nobel Peace Prize awarded to a nuclear antiweapons group, the International Campaign to abolish Nuclear Weapons taking home the prize some top trending stories now, cam nutdenewton apologizin remarks he made to a female reporter that were denounced as sexist the Carolina Panthers quarterback calling the words extremely unacceptable and danone stopped a sponsorship with him if you have not heard the comments, heres a rundown he was asked bay fy a female reporter about the skill running past routes by some receivers. The reaction n newt newton smirked and said its funny to hear a female talk about routes its funny rather insensitive, certainly. Did he realize hes on the microphone, hes a quarterback and always on the record with regard to those press conferences. A regrettable remarks. This is like 50 years ago he apologized you can only wonder how other sponsors are feeling certificate reason stick by him. Under armour. Danone pulling out. Speaking thoof womenof that related theme. Harvey weinstein is taking action against the new york times. He says he will sue the publication for 50 million after the times published a bombshell report claiming he subjected actresses and female staffers to decades of Sexual Harassment weinstein hired the attorney who brought down gawker after winning that 1 140 million verdict for hulk hogan but its on the front pages of a lot of the new york tabloids certainly dihe has a fight ahead of hi. Its a hollywood story. You dont think that stuff happens a lot, but maybe it does half more often. These are allegations. Some are calling bull on the wall street firm that introduced the world to the fearless girl statue, that amazing stature that stands in front of the bull on wall street state street sponsored it now it has to pay 5 million to settle federal allegations that female executives were paid less than men in the same position the agreement following an audit in which investigators say the company discriminated against more than 300 female and 15 black senior level employees since 2010 those employees will be getting back pay with interest from the settlement fund. Life is not without a sense of irony sometimes you wonder where these investigations came from, when they came to light clearly the statue makes a good point, you wonder how widespread this is across wall street and other businesses the gender pay gap is a real thing. It is a real thing. State street did say they disagree with the findings of the report but are willing to settle and cooperate thats their response to whats happening. Now on to the sports world the baseball playoffs, the American League divisional series kicked off yesterday with a pair of games. First up, the Houston Astros took on the boston red sox, big game houston clobbered boston 82 thanks to three home runs from the man they might call the mighty might, jose altuve is the shortest player at 55. He hit three homers in a single postseason game. The next game is the yankees versus the indians the indians shut down the yankees 40 on a Strong Performance from pitcher trevor bower who did not allow a hit until the sixth inning baseball front and center it is october. The patriots did eke out a win against the buccaneers last night. Good thing youre here to update us on that. Coming up, the tpp, member that moving full steam ahead without the u. S. Its going cost american exporters. Were talking about the Transpacific Trade Partnership its a must read next. As we head out, check out whats happening with the action in europe. Gains and losses fraction thal Worldwide Exchange will be right back have told me that i could afford. A gigspeed. A gigspeed network. Its like 20 times faster than what most people have. Id of said. Id of said youre dreaming. Dreaming definitely dreaming. Then again, dreaming is how i got this far. Now more businesses in more places can afford to dream gig. Comcast, building americas largest gigspeed network. Welcome back to Worldwide Exchange. Im sara eisen here with dom chu. Time for our mustreads. My pick in the wall street journal, taking on the pacific trade partnership. While mr. Trump is unlikely to have a free trade epiphany the deal offers benefits to exporters that the u. S. Will struggle to secure on a bilateral basis if the 11 remaining members hold out for u. S. Return, it is possible that rational american selfinterest will prevail over protectionist bluster. Holding out hope that the u. S. Steps back into this partnership. Dont know how realistic that is it was one of the first moves the Trump Administration made pulling the u. S. Out the surprise is that japan has taken on a leadership role in the region, gathering countries like vietnam, new zealand and australia to try to break down the tariffs and the restrictions on some of the trading back and forth it will boost a lot of their own economies to get this tarifffree trade. It also kind of we have to talk about whats happening with the second biggest economy in the world. How does everybody in that tpp agreement interact ultimately with china it will be the biggest trade force in that block. And china is not in it. China is not in the tpp but it presents them with a stronger force against china and helps countries like canada who benefit more because the u. S. Is out of it with this kind of asian trading. Well see if its back on the agenda for now the Trump Administration is looking for ways to revisit nafta and modernize that the oped im looking at is in the usa today. After the las vegas massacre, the sound of silencers this is the Editorial Board at usa today writing gun laws in america are already so weak it must be tough to find ways to make them loser. But you have got to give gun lobbyists credit they have come up with new ideas and found allies in congress to promote them even as the nation mourns the 58 people mowed down at a Music Festival in las vegas. At the top, a push to make it easier to purchase gun s silencers, and harder to restrict armorpiercing bullets. These ideas would at best place the convene yuns of gun owners over the safety of the public. But there is a sense that the National Rifle association may be playing ball tactically speaking the front page of the post saying the nra wants to look at restricting rapid fire gun adapters, that bump stock. So dangerous. As this debate plays out, theres so many variables in there. It would be interesting if the nra does work with congress and tries to figure out which rules the nra is working now with the atf, not exactly congress yet. But they support members. We are approaching the top of the hour, the team is getting ready for squawk box. Joe kernen is in new york with a look at whats coming up 1997. Its a while so 20 years since the s p closed at six consecutive record highs. I remember before last thursday we were talking about a lot of strings of records just continues well get an important data point today. It will be clouded by the hurricanes, the jobs data. In an unusual not unusual, but something that were pleased about, we will be able to talk to dallas fed president Robert Kaplan after the report comes out. So maybe well get insight into the feds thinking, depending on how the report looks at that point. We also have kudlow versus fuhrman, which is always interesting. Larry is funny, he goes i love you and respect then he lays into people. Did he that to me, too we have a debate over gender pay gap. Its endearment i try to do that. Just saying with all due respect doesnt always somehow larry i love you, then boom you only hurt the ones you love. Nelson peltz, extended interview in what is the most accrimoniou and longest running proxy fight ever that will come to some type of resolution on october 10th. Tuesday i cant believe its october. I cant believe its 2017. I cant believe any of it. I cant believe its the fall. I cant believe people are back to school. I just cant believe how quickly the years are going by, sarah. Go to starbucks, its Pumpkin Spice time your taste of fall ill try that Pumpkin Spice. Thank you. Thank you very much the squawk box team is coming up next. Up next on this show, the countdown is on to the big jobs report well talk expectations. Thats all cinomg up next when Worldwide Exchange returns after this commercial break. I love you, couch. You give us comfort. And we give you bare feet, backsweat, and gordos. Everything. I love you, but sometimes you stink. Soft surfaces trap odors. Febreze fabric refresher cleans them away for good. Because the things you love the most can stink. And plug in febreze to keep your whole room fresh for up to 45 days. Breathe happy with febreze. This is not a cloud. This is a tomato tracked from farm to table on a blockchain, helping keep shoppers safe. This is a financial Transaction Secure from hacks and threats others cant see. This is a skyscraper whose elevators use iot data and ai to help thousands get to work safely and efficiently. This is not the cloud you know. This is the ibm cloud. The ibm cloud is the cloud for business. Yours. Exchange. Im sara eisen here with dom chu. 2 1 2 hours to go before we get the september jobs report. Just a check on futures. Dow futures are up again, up 10 points nasdaq up 9. S p is flat. John manley joins us joe kernen was reflecting on the incredible string of record highs weve seen this year just when you think that stocks are fully valued, or the cycle looks to be coming to an end, we get another burst of strength. Things are good earnings expectations are going up, the fed wont rein things in ive heard people wine about hit numbers for years. Numbers are going up interesting in the point of these record streaks that weve seen, theyre not like the dow is pumping up 300, 400 points a day to set records its moving higher by 20, 30, 50 points at a time some say this is not the market you buy low and sell high, you buy high and sell higher is that still the case its late to buy low. I guess it is you buy high and sell higher. When the fundamentals are working in the right direction forget about the future, forget about thepast, look at present. Is it a Good Environment the fed will not tighten the earnings are going up. That is tightening. The fed is raising rates, but not tightening tightening is when they try to restrain the economy do you think the chair of the fed wants to slow down the u. S. Economy . I dont think so i think in the next year rates will go up but higher rates are a product of a better economy. They have less impact. So my wife and i bought our first house when the Mortgage Rate was 12 we thought it was cheap. It depends on the strength of the economy. Higher rates, i think, reflect a better economy what about the jobs report . Are we likely to see a Market Reaction or is it just a write off . If i knew that, i would place my order now you never know what will happen. The trend is towards better employment the trend is towards a stronger economy. Ill play the trend. I think the numbers will be go looking at whats happening in the market, strengths weaknesses what do you see . Strengths are earnings. Valuations are not as cheap as they used to be. I know that. Now finally valuations are high. What would you be looking for to tell you that things are not all good or this is beginning to be the top look for signs that the fed is getting ticked off. Theyre ready to pull in the reins hard number two, look for signs that earnings are not going up. Look for the market to go flat for six months most times the market gives you six months to get out. Six months of flatness before a downturn john manley, thank you thank you, dom, for being here on a friday. That does it for us on sawwi ehae. Quk box is coming up nextng so why wouldnt you take something for the most important part of you. Your brain. With an ingredient originally found in jellyfish, prevagen is now the number one selling brain Health Supplement in drug stores nationwide. Prevagen. The name to remember. Whentertaining us,es getting us back on track,hing . And finding us dates. Phones really have changed. So why hasnt the way we pay for them . Introducing xfinity mobile. You only pay for data and can easily switch between pay per gig and unlimited. No one else lets you do that. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit or go to xfinitymobile. Com. Good morning the looming grocery wars costco posting a beat, but the stock is falling and analysts say theyre worried about competition from, gee, i wonder who, amazon. Nelson peltz getting support from a pension fund in his bid for a board seat at Procter Gamble peltz will join us later this morning. And its jobs friday you probably knew that well tell you what to expect from the september employment report and how it could impact the markets bull run. It is friday, october 6, 2017. Squawk box begins right now. Live from new york where business never sleeps, this is squawk box. Good morning, everybody. Were easing our way into friday welcome to squawk box. This is cnbc we are live from the Nasdaq Market site in times square. Im becky quick along with joe kernen Andrew Ross Sorkin is back been traveling all week. A lot of traveling, on the west coast, boston makes you appreciate being back it is jobs friday today. The september employment report is out at 8 30 a. M. Eastern time nonfarm payrolls are forecast to rise by 80,000. Thats because of the impact of hurricanes harvey and irma the Unemployment Rate is expected to hold steady at 4. 4 . U. S. Equity futures, dow futures indicated up