Time guy is so nice, he got everybody starbucks downstairs he does that once in a while. Every time he comes in. He expenses it you know, see, you ruined it . You ruined it. We had a moment. He did not expense your epsom salt no he did not youre a good guy, guy do people say hi guy, guy you just did. Japan has called for an emergency meeting of the u. N. Security council u. S. Secretary of state Rex Tillerson is calling on china and russia to take direct action against the north. There has not been much action in the u. S. Fought chores. The dow is indicated higher again. Futures indicate up 9. 5 points now. S p fought choutures down 2 1 2s the nasdaq down 11 lets look at the currency markets. The dollar coming up the dollar was lower versus the yen after the north Korea Missile Launch news first hit. You can see this morning that at least at this hour the dollar is up against the yen at 111. 20 down against the euro. Lets look at the asian markets. Overnight the nikkei still closed up by a half percent. The hang seng was up by 0. 1 the shanghai down by a half percent. In europe, in the early trading, youll see that at least at this hour, things are relatively flat except in london where the ftse is down by 1 because of some other concerning news we have been hearing there following breaking news out of london. British police are on the scene of an apparent i dont know why were calling it an apparent explosion. It was an explosion it was apparently a terrorist attack or terrorist incident on an underground train. Several people were injured. Carolin roth joins us from london good morning good morning. Once again a recap of what we know londons met police say theyre treating the situation at Parsons Green underground station as a terrorist incident. Police were called to the scene in the southwest of london at approximately 8 20 local time, at height of rush hour, following reports of fire at station. Officers from metropolitan Police Service are on the scene in addition to the london fire briga brigade. The Senior National coordinator for counterterroism said a number of people have suffered injuries people are talking about facial injuries here. He added that it was too early to determine the cause of the fire, but a full investigation was now underway by the mets Counter Terrorism command. This after images of what bystanders believe was the source of the blast, showing a white plastic container in flames its important to note any details of the explosion have not been confirmed by authorities. A uk Government Spokesperson said theresa may was receiving regular updates. She will chair a meeting of the Emergency Committee later today. She said my thoughts are with those injured at Parsons Green and the Emergency Services responding swiftly back over to you carolin roth, thank you very much well follow this situation closely. Lets get to the latest on north korea. Chery kang joins us now from seoul. Good morning. So, yes, it was not exactly aimed at the u. S. Territory of guam, but like what we saw late last month it flew over the northern part of japan it managed to fall into the pacific ocean. Lets talk about the distance of this latest north korean missile. It managed to travel further than any north korean missiles in the past. So i think it was a part of that messaging from the north korean regime to the world and also to the u. S. That our missiles can reach the u. S. Territory of guam as it was talking about in its latest threat last month so that distance was actually 3700 kilometers if you factor in the distance between north Koreas Capital city of pyongyang and guam is 3400 kilometers, it traveled further than the distance between these two areas. Also i think its part of that messaging coming just three days after the latest round of the u. N. Security Council Resolutions saying that sanctions are not going to stop us the regime is going to continue, speed forward with its Missile Program. I think it also theres always that need to keep testing its missiles i think the u. N. Security council gave the regime a very good excuse for that the key takeaway is the distance and part of the messaging and the fact that its making it clear that its not really intended to stop the provocations at this point chery kang, thank you very much in washington, theyre closely following the situation in north korea eamon javers joins us from washington this will give the president something to deal with today hes back from his trip to florida yesterday. We have a statement from Rex Tillerson responding to that north korean test that you talked about he says china and russia must indicate their intolerance for these reckless Missile Launches by taking direct actions of their own. Put this in context this comes in the late summer period in which the North Koreans have been extremely aggressive in provoking all kinds of International Response go back to july 4th, they were conducting an icbm test. July 28th, another test. August 26th, throw missiee miss tested on the 29th, this a missile over japan. Then the hbomb test new sanctions on september 12th, and now this incident last night. So the question for the United States is can they get russia and china into the game to put pressure on north korea to stop this activity. The north korean sanctions put in place earlier this week fell short of what washington wanted to see here. Nonetheless the u. N. Did impose new sanctions on north korea obviously it has not had the desired effect, at least so far. Domestical domestically, we had an interesting situation regarding immigration yesterday as all of official washington tried to figure out what exactly President Trump and the democrats agreed to at dinner at the white house the other night. The democrats came out and issued a statement they said in fact there was an agreement on the dreamers, the Young Children brought to the United States by their parents who have now grown up here, and whether or not they could stay the democrats said there was an agreement. The next morning the president put at this tweet making a distinction betweenthe idea of an agreement and a deal. The president saying there was no deal last night on daca, massive Border Security would have to be agreed to in exchange for consent. Would be subject to vote the democrats responded and said fine, we said agreement, you said no deal thats fine. They said President Trumps tweets are not inconsistent with the agreement last night as we said last night, there was no final deal that seems to clear it up. There was an agreement no final deal then the speaker of the house came out he had this to say theres to agreement. The president and the chief of staff called me from air force one today to discuss what was discussed. And it was a discussion. Not an agreement or a negotiation. So there you have it. According to speaker of the highways, no agreement, according to the democrats there was an agreement according to the president there was no deal. I talked to Mick Mulvaney the omb chief yesterday, he said there was no final deal. Somewhere in there is a negotiation. Well try to figure out what happened, and if anything has been agree ed d to or any dealse been done here eamon, just adding to the confusion, i thought when we heard the tape from the president yesterday as he was getting ready to get on marine one to go to air force one, he already talked to ryan ryan made it sound like he just called him from air force one. We parsed that carefully at white house yesterday. The president was asked whether he talked to ryan and mcconnell. They were not invited to this dinner, which sort of gave agina to republicans on capitol hill the president was asked on his way to marine one, have you talked to ryan and mcconnell he said i have talked to ryan and mcconnell. If you go back and look at tape, the president was suggesting he has talked with them in general about immigration over the past period of time okay. Not necessarily after the dinner right boy, you have to parse that carefully. It looks like ryan and mcconnell didnt get a chance to weigh in on this until yesterday morning, after the president was on the plane. Thank you we will move on to something maybe we have a better feel for. Well, with adami here, i think so. Lets hope so thats why im here. Its about the markets. You have money on the line. Well, we all dont we all have money on the line in some way, shape or form not really. Come on, joe. Just go with me on this one. Dont you make those buy and sell decisions on different i try to. Yes. Successful some days, unsuccessful most. Politics is 51 we have a binary decision every day, do we keep our comcast forever or sell. The best thing to do is keep it forever. Stay the course noiits not really stay the course its get on board. Get on board. Its like a horse its like the thoroughbred who won that race . Big brown . I was thinking secretariat. Why do we remember that one it was spelled wrong American PharoahAmerican Pharoah it was spelled wrong. I did not remember that until you said it. Were old. We remember things from 70s if youre old, i dont know what i am. Ancient lets get to the broader markets. Coming off a relatively calm day that still saw the dow hit its three dozenth alltime high not bakers dozen. Regular dozen. Joining us is david lebowicz, and juryjurien timer jurien, are you aware of the global fears in. Headlines will always be there. We used to worry about iran, about putin. Ultimately the market is driven by fundamentals of earnings, liquidity, valuation what investors ought to do, is have a diversified portfolio, so when there comes a shock or scare especially with valuation levels on the high side, they have a portfolio not entirely in stocks but a combination of stocks, bonds, cash, other asset classes. Im preaching the gospel here, but diverse fid portfolified po to withstand these shocks. We sthau aw that in the minfina markets. Stocks are set to grow in q3 maybe the market is complacent about how many more rate hikes are coming the fed is in do no harm mode so is the ecb and most other Central Banks. Centralening enough to get rates back up. Those two things together, even evaluations notwithstanding, those leave markets in the sweet spot thats where we have been all year david agrees. Its not always go with the flow and ride the momentum. Now 22,200, you go from even before the the move election was supposed to especially with this outcome was supposed to derail things once you realize it didnt, then we got to january, okay. But it already paused it looks like its over since january, its been nothing but up dont you think at this point, you just give the benefit of the doubt to the bulls just wait for something to say were derailed i think the fundamentals are supportive earnings look good Second Quarter gdp was revised up it sounds like were making progress towards possible tax reform or a tax cut. It looks like the path of least resistance for the equity market is higher. Its our expectation that equities should continue to move upward hopefully with the fed continuing to normalize and the ecb tiptoeing towards the exit, we get higher rates on top of that this normalization is slower than people thought, even though gdp is higher than people thauk thought. Inflation is also less than people thought inflation is the most concerning why is it concerning . We can get it if we want it we can talk to brazil and argentina. Exactly whats fascinating, if you look at the volatility of inflation, it has come down the question is will we go to 7 inflation or zero. The question is will we be at 1. 5 or 2 thats why the fed will most likely hike in january a third and final hike for this year were pencilling in two rate hikes for next year. Inflation is the new payrolls. In order to gauge what fed will do, we need to look at prices. Dont know how you measure inflation anymore given the internet, technology i dont know whether you people are experts on blockchain, but what is blockchain . Blockchain, i think i finally understand it. This genius, this crazy genius this programmer yesterday. He said it will be okay. If you Say Something will be bigger than the internet, i think the internet has been big. I dont know i look at my kids what they do, 24 hours the internet has been big how you can be bigger . I think he meant this is going to make the internet so much safer but its not even close to the internet but it can make the internet a safe place to operate. You can verify everything that comes through. Exactly were much more interested in the Blockchain Technology than the cryptocurrencies, for example. Its not bitcoin. That underlying technology. Even in healthcare, aggregating all of this information and the way its disseminated now, i dont know what that is worth in terms of holding down prices. Nobody can charge more than anybody else because theres transparency immediately across the entire chain of its i dont know if normal inflation measurements you bring up a good point we are likely mismeasuring, not only inflation but Economic Growth as the economy becomes more Service Oriented t becomes more and more difficult to capture what the output looks like counting the number of wij jdge off the Assembly Line is different than an app. The other issue is productivity. Until productivity goes up, wage also probably remain muted profrnlgts du jurrienf fshgjurrien, if ceoe confident, wont productivity go up well let the dreamers stay. The population will grow people worry about that and think we can never get above 2 . Dont you think productivity can come back . Sure. You know, potential gdp growth, the speed limit of the economy is the sum of productivity growth and labor force growth. Having immigration is a good way to grow the economy. Absolutely all the western all the industrialized countries have a demographics problem so you need to boost your population one way or another, whether through birth or immigration. Its a slowmoving thing productivity the same thing. If taxes are cut, regulations are cut that should potentially boost productivity unless you do one or both of those two, you will be stuck at 1. 5, 2 real gdp growth. You need to do something structurally to raise that limit, and it comes down to those two things okay. Thanks, jurrien, david guy, thank you for being here. Im staying im not going anywhere i know that i will thank you every chance i get. You can weigh in any time youre friendly, arent you . My place is to wait my turn no, no, no. Youre the guest host, we expect you not to do that. Thats not my thing want me to just chime in yes want me to throw us to break . Yes now i can get above my does wapner hes the half time report from 5 00 to 6 00 is melissa lee. You know, joe. Dont feign ignorance now. Its 11 years. You know this is how i compliment you i understand. When we come back, ringing up Retail Stores are already hiring people for the Holiday Shopping season. The numbers can tell us a lot about the state of the economy we have those details next you are watching squawk box here on cnbc experience the lexus rx with advance safety. Standard. Lease the 2017 rx 350 for 399 a month for 36 months. Experience amazing at your lexus dealer. Entertaining us, getting us back on track, 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. Macys plans to hire 80,000 temporary workers through the poll l Holiday Shopping season. The retailer is increasing the number of people it hires to fulfill online orders during the holiday by 20 up about 18,000 one down, the other up. It says they have 70 fewer stores going into this you can see that transition as people make the move into ecommerce, which is the perfect reason to be talking to matthew espey, his company is hiring 27,000 Seasonal Workers to try and support retailer demand for ecommerce thank you very much for being with us. I want to thank you for not playing Christmas Music on the way in its time you must hear that in your head all year long the sound of a carole makes my Blood Pressure rise in a good way or bad way . In a good way we talked about what macies is doing youre in position where youre expanding your Seasonal Work force by 400 . Exactly why because of the customers youre serving . Bringing in more retailers that youre serving is that because the customers you already had, these retailers expect to have so much more Online Business . Great question. Were the second largest Ecommerce Service provider in north america, behind amazon we power the online sale force retail clients, so consumers get that who are some of your clients names like dsw, pet smart, dicks sporting goods, other luxury brands, homegoods we have hundreds of clients that come to us for that service. We talk about macys, walmart, they have their own fulfillment and distribution systems. You pick up retailers who may not have been able to do it themselves yes, we provide transportation, fulfillment, Customer Service and technology. You are getting more retailers who say i need more help from you or is it because the retailers we always have more busin