The hang hishanghai slightly lo. In europe, green arrows across the board. The dak x is up by 0. 4 . The cac up by 0. 3 the ftse up by 0. 2 . The dollar, which has been under so much pressure, you look and you see today the dollar sup against the euro, back below 1. 20 this morning it looks like the dollar yen is at 109. 89. Check out crude oil and gasoline prices, crude Oil Yesterday at a onemonth low. Its down once again this morning at 46. 18 rbob gasoline up nearly 6 yoed yesterday to a twoyear high of 1. 82 sits at 1. 83 this morning as we quont to watch the reficontinuec those refineries shut in with the additional rainfall. Gas prices at the pump could go up to 2. 60, 2. 70 we were thinking 4 dollars was the norm even after this, its amazing that were in a different kind of and can you believe that people that supposedly know what theyre talking about said crude would go down and gasoline would go up because youre not refining as much you get a glut of crude . A scarcity they were right. Crude has not spiked on any of this no. And that spread that blown out thats helped refiners, particularly the ones not along the coast, the mid continent refiners can benefit because theyre not affected by the flooding situations, yet they can take advantage of that spread wasnt it good that it stopped raining in houston but i think some rivers have not even crested yet but the overflow on some of the reservoirreservoirs, it wasa controlled release and then uncontrolled release, which sounds scary, but a little bit going over the back. Some of it is going through it was only a foot over. Fwbut there were concerns abu those dams even before the situation. On the anniversary of katrina, the same day t bring backs the same thing i think its a really devious storm that circles around and because that is what i said. It already made landfall horrific that it makes landfall twice. It comes here over the weekend well get the remnants of it here are the stories were watching uber welcomed its new ceo. The former expedia ceo had not spoken publicly about take the job until last night in a note to expedia employees he wrote i have to tell you im scared i have been here at expedia that i have forgotten what its like outside of this place. Today he will take questions from employees one topic that may come up, the Justice Department is looking at claims that uber violated u. S. Bribery laws it focuses on whether uber managers violated the corruption act. It did not specify the nature of the case this is the third time ub ser fielding questions from a federal agency this year later this morning, Shervin Pishevar will join squawk on the street that should be an interesting conversation hes our guest were a network were a team i get that. How many ceos are unassuming enough to say im scared i heard nothing but good things about this guy did you practice in case you had to say that . Yes, khosrowshahi well be saying that name a whole lot. Low key and deal maker. Which is good for uber a change. I would be afraid todwhosh wouldnt be its a daunting challenge to take over youre comfortable at expedia. To do it at a time when youre hearing reports of a potential bribery that, too the highest paid ceo last year, mostly because of stock option grants. He likes the challenge. Exactly United Technologies nearing a deal to buy rockwellcollins. An agreement could come as soon as this weekend. If the transaction happens, it would be the largest air erospae deal on record amazing 20 billion will put you there for aerospace. When you look at pharma mergers, media mergers much more than that President Trump is set to give a sfeepeech on tax reform later today. Eamon javers has more on what the president is expected to say and i get comments on yesterdays visit down to the area the president spent yesterday afternoon traveling in texas, today he will give a speech in missouri, on the idea of tax reform heres what we know will be in the speech white house officials telling us yesterday that this is going to be billed as a main street speech near americas main street, route 66 thats the imagery well see today. He will talk about shared prosperity slipping away in this country. He will say we need to end the rigged system. This is an interesting rhetorical choice by the president of the United States he will say the u. S. Economy is rigged we need to jump start it with tax reform, tax cuts across the board. That will help get the economy going again and bring back that shared prosperity. Politico reporting that steven miller, the nationalist white house aide is taking a big hand in crafting this speech. So we can expect some of that populist rhetoric in the speech. It will be an interesting way to kick off the tax reform debate going into the fall. This will be the buyiiggest priority of the white house other than that Hurricane Harvey relief bill the president talked about yesterday. Interesting piece in the journal today, oped piece, maybe you already have seen it we still dont know everything yet. But there were things that happened 12 years ago that people were ready for this time. And that saved lives, and maybe when its all written, if anything positive comes out of this, its that some of these agen agencies after 9 11, its the same thing where were all these guys if anything positive can come out of it, maybe all the agencies learn to Work Together state, local, federal to help. You heard the head of fema making that point alongside the president , saying that the Convention Center is not at all like the superdome making it known this is not a repeat of the katrina. The trick is that a lot of this is two, three days on. You have these aftereffects that you cant predict thats where they have to be nimble even when the First Responders are so exhausted from spending the last five days from the onslaught. Now you deal with the water receding, the damage being visible, the cleanup beginning all of that is coming to bear on these people who have been under siege for so many days when the scary comment yesterday from the mayor worried about bodies, when the waters recede right any reason for optimism there . Theres hope thats not going to be the case this time, isnt there . Theres always hope im not an expert in this. Having covered these stories in the ast, one thing that you worry about is when the disaster hits, everyone scatters, people go to different shelters, they go inland, get a hotel room, they hit the road, people dont know where each other are. Though dont know where family members are. As the disaster recedes, they try to reconnect thats when they say wait a second, were missing somebody thats when you get the missing persons reports coming in we may not even have those yet. They may not have a good sense of how many people are missing and that might be dead in the storm. I think that coming days may be more grim on that front, but theres always reason to hope. Theres certainly a lot of notice that this storm was coming in so people had a chance to prepare eamon, thank you. You bet lets get down to texas for the latest on the recovery and relief efforts from Hurricane HarveyBrian Sullivan is standing by in galveston. Well get to him in a moment first to contessa brew ner houstughe brewer in houston where a curfew was in effect last night that curfew has just been lifted it was in effect last night to prevent looting and other kinds of theft from Properties Around the city there has been a dozen or so arrests for looting and burglary and robbery. Considering the magnitude of the damage here, thats a minor part of this story. What were seeing today, dry skies. This is the first time weve been out here that it hasnt been raining thats a great sign for houston businesses we were out late last night on military vehicles accompanying volunteers out scouring some of those neighborhoods, looking for victims that had been holed up and missed over. There were long lines of trucks and boats and highprofile vehicles ready to go in. Literally parades of these vehicles going in to check for victims. We saw businesses yesterday even when it was still raining that were open for business there was a loves travel plaza that was packed. The minimart had lines out the door the arbys had lines wrapped around the turnstiles. Twle serving food. They were up and running just next door, the pilot travel plaza had pumps wrapped in plastic. We saw a place where businesses were showing up to feed hungry victims and First Responders then i got a chance to talk to them about what the shutdown for their business has meant to them Buffalo Wild Wings outside of houston, three locations, shut down since saturday. As far as sales, us being down, especially with the texans, mayweather fight, youre talking 110,000 in sale potential limit. Among three restaurants for one restaurant. So, his restaurants have power and there was still food, but he couldnt open because his employees are scattered all around the broader metropolitan area there are some 3 million workers in the greater metro area. Surely some of them get back to work today interstates are beginning to open theres debris on them, but a good sign is traffic is going the way its supposed to people are still going to have to navigate around flooding, low levels we spent two hours trying to get back into downtown houston last night and we were in a high profile vehicle going through some of these flooded areas. Its great to hear that the rain has stopped but there has been questions about whether all the rivers have crested yesterday or whether some of the worst of the flooding may yet to come so thats part of it. We saw waterways yesterday that were being filled with water were watching the waters recede back into the waterways. But that means that downstream from these waterways, youll a neighborhoods may get flooded. Thats something that people who live here have to take into consideration when they make plans for when they can return home to see the damage con tess sashgs thank you very mu contessa, thank you ver much lets get to Brian Sullivan who has been watching the Oil RefineriesHurricane Harvey is not over by any means the most extreme rain event in the history of the United States keeps on giving. Its not where contessa nor i am its about 100 miles east of here flooding is starting to rise, to the point where the Evacuation Center is having to be evacuated because water is coming in the place where everybody went to get shelter, theyre having to leave because the water is coming up. This is the storm that will not northeast United States over the weekend. Port arthur, texas a lot of sad stories about families, but also the home to the biggest refineries in the United States. Saudi aram aramcos refinery yesterdayport arthur, there were reports that it would shut down because of flooding, and maybe because they cant get the workers in to run it that is something to watch as gasoline futures hit a twoyear high the Recovery Efforts begin here as well. Let me paint the picture for you. Effectively everywhere between here and contessa is if not flooded some what underwater and they sent in the marines yesterday. Thats a video of the Marine Assault amphibian battalion from galveston going north towards houston doing what they could. We spoke to major john kennedy of that battalion about their efforts. Were ready i think the most important part were in the game now. I have a wife and kids at home weve been watching the water rise like everybody else just every time we think the storm is passed, it comes back and hits us again. Were here, ready to help. We can offer that flexible diverse responsive capability that i think this area needs now. That was yesterday. I dont think he knew how precious those comments were given whats happened in beaumont, port arthur, memphis and even new york and new jersey over the weekend this storm will go down as the greatest water and rain event in the history of the United States. I know earlier louisiana said it was willing to take refugees from the storm that it was willing to put them up look like that is the worst place for some of these refugees to be headed towards following the path of that storm wlafrn what weve seen around here, theres nowhere to go you turn down a road, that road is blocked. You think ill go down this road people use their smartphones, google maps, waze, but the problem with those map apps, waze takes people to tell you about problems if theres nobody on the roads, you think the road is open when you look at your phone, then you turn, thats galveston yesterday. Thats us driving around we got at one point ill l leave with you this. At one point in houston yesterday, the pace of rain was 10 inches per hour 10 inches of rain. That was a short time. We got about 12 inches of rain in galveston in about 12 hours it just comes out of nowhere the ground is so flat, it comes across and goes up can you imagine that 10 inches of rain per hour 50 inches that some areas have hit is more than those areas typically get in a year. Brian, thank you very much. Well check back in with you in a bit. Emergency Response Teams from heb are on the ground delivering thousands of meals to houston residents. Joining us from rockport, julie betti b beddingfield they are called dru, Disaster Relief units, and mobile kitchens how long you have had these . Its amazing you had these ready to goch you served 8,000 meals sunday and monday, relocated to rockport on tuesday. Serving 2,000 meals, that was all ready to go somebody at hgb thought of this years ago to be ready for this absolutely. Its ironic, i guess, how Disaster Relief and just our normal supply chain for business go hand in hand. We had these mechanisms in place for years. One of myercounterparts this is his 17th Disaster Relief effort. We had those vehicles for years. We deployed 15 Disaster Response units on sunday and started going where we could safely go with those vehicles, start providing services to customers, communities affected by harvey its been point the out even Corporate America seems to be more receptive or more reactive to what happened this time around thats the way it should be, because the government will not there to be able to do everyone. There were worries yesterday and the day before about food supply in general a mcdonalds somehow managed to stay open with huge lines if this continued, the food supply was in question, which would have made your efforts more important. Yeah. As a grocery retailer operating in texas, we understand the landscape here, have a good handle on things its our business philosophy to try to be the last ones to close in times of Natural Disaster then the firstones to hope our stores themselves can provide much need resources to customers and communities facing cleanup efforts. Were also focusing some efforts here in houston as well. Half of our team arrived at Convention Center last night we will serve breakfast to First Responder theres, the other half of the team, were still serving breakfast to the residents s is in rockport. We have our employees all over the state trying to get stores back up and running and assist communities throughout texas so its possible to donate to heb who else is involved yes Central Market . Is that part of heb . Absolutely. You know your stuff. Those are part of our heb family customers are the first to ask what can we do we donate 1d 0d 1,000 to reli efforts, we are partnering the red cross. Customers can do into the store and donate in 1, 3, and 5 increments if they choose donate more, we can accept that as well, via cash donations then were he would direct people to those partners as well to see what their needs are. Our food banks have specific needs on whether its baby formula, you know, food, snacks for folks who are being displaced for shelters so were communicating out with those resource in addition our store reopenings and closings are at heb disaster are you concerned the disruptions on the roads will cause you to have food stho shortages. Once again, being that regional grocery retailer, we have warehousing and supply chain operations throughout texas. Our team has been working 24 7 to make sure our stores are getting restocked on a continual basis. We have grocery shipments going out. Were trying to figure out how to shift once again that supply chain to make sure that stores or foodbanks or shelters that need the resources are getting them if it means a store gets less product than theyre used to, thats okay. I think texans understand. Were keeping our stores as operational as possible. So far weve been on top of things our amazing team is doing an amazing job. I never heard of heb. So youve give n out all these meals, if i go to texas, the only place i would shop is he about. Its smart, helpful and a good model thank you. Thank you, guys when we return, the countdown into fridays job report is on well tell you what to expect from the adp numbers after the break. And well speak with Warren Buffett live at 11 00 a. M. Stn men squawk alley. Stick around, squawk box will be right back. Welcome back to squawk box as we count down to fridays payroll numbers, we are joined by ellen zenter and alex dryden. Alex, starting off with you. In terms of yesterdays session, make reversals across the board when it came to the reaction to the north korea firing we had the biggest intraday reversal on the dow in nine months how do you read that reaction . In august, youve seen markets in a how oldi inholding. We dont have many answers to the debt, we have Central Bank Meetings in september, we have the fed, ecb and the bank of japan having big Central Bank Meetings were expecting announcements, so investors