Gain today, you will be seeing the longest winning streak in more than four years because of the numbers of gains weve seen. The s p 500 and nasdaq gained for the last seven sessions in a row. The dow up for six this is the third month in a row that the dow put together a lengthy winning streak another day of new gains, another day of record closes it hasnt been a year since the election has not 24 those are numbers that have always im pining for the mid 90s. Longing for the days. 35 three straight years. Never happen again probably. People say never say never people in ray seal estate say please let there another boon. We have been told for years, 6 , 7 , thats all you get longterm average, 6 , 7 . It will regress, revert to the mean 6 , 7 is all you get. 24 . Things always look best before its been a run a really good run. We saw one of the reasons yesterday was you heard liesman with our survey. The highest level for optimism ever it helps to unshackle American Business it just does you can argue, you can say no, we need guardrails, regulations are good if you overregulate and dont allow companies to do what they do, you dont do as well usually pendulum swings the pendulum is swinging 24 . Overnight in asia, markets in hong kong, shanghai and south korea were closed for a public holiday. The nikkei was up barely i thought it was 1. 9 . 1 p it was 1. 9 points. Some early trading in europe, you can see things are mixed the dax is down by a quarter percentage point cac is slightly weaker in france the ftse up by a tenth of a percentage point bigger gains in spain which did see pressure earlier in the week because of the vote that went down there you can check out wti. This morning up 11 cents to 50. 10. Saudi arabias oil minister saying russia helped to breathe new life into opec, and shale can be a major contributor in the market in the years to come. He was making those comments at the Russia Energy meeting in moscow yesterday, wti closed below 50 dollars. This after a jump in u. S. Crude exports that was unexpected. A record 2 Million Barrels a day. On todays wall street agenda, you said i probably should have said who was on the show im going to mention who is speaking today now in terms of fed speak. How many people total in the country do you think will recognize we have the best viewers in the word. We do smart viewers. Here we go. Okay. I would say 25 of the viewers at least our viewers will. Lets say youre some other morning show or something, and youre trying to make it as compelling as you can for to get as many viewers as you can get, this is not what you would probably these are not people you mention. We have weekly jobless claims, International Trade data are out at 8 30 a. M. Eastern factory orders at 10 fed speak. Jerome powell. Powerful guy. He has been a person who has sort of been in fed chair Janet Yellens corner on a lot of the moves. But hes a republican he is he may be the next one he will talk today also if i say john williams, most people would think of somebody else. Hes the San Francisco fed president. Hell be talking today got the Kansas City Fed president , Esther George talking. Philly fed president , Patrick Harker are all speaking today. This is the important one Patrick Harker will be on our show at 8 30 a. M. Eastern. But you have to be a nerdy business you have to be smart. The most important thing is where Interest Rates are is there more than 100,000 people in the country interested 500,000 . 1 million . All the smart people who realize where the market is headed based on some of these things the people who care about the economy. What motors and powers our country. Im not unhappy about it, but we have to know our audience we have to be pleased. If we get 200,000, 300,000 people, are we happy were happy. Theyre all the type of people that attract highend advertising. This will help them in their lives. Right okay thats populist youre populist im populist . Youre converting fed speak into how people can manage their lives, do better with their retirement and pay for education. This place started as a consumer news and business channel. We had reporters squeezing grapefruits out in the super markets in 1989. Seriously yes consumer news. Bill ackman says that adp shareholders are on his side as he pushes for seats on the companys board in a heated proxy fight. He sat down with jim cramer on mad money last night he explained why hes seeking changes. Why is it that adp has lower revenue productivity than all of their competitors . Adp has an average of generates 160,000 per revenue the competitors average 224,000. Straightforward question, when you think about adp, it has enormous scale if anything they should have more efficiency. Its all about the opportunity for improvement. Adp is a Great Company has done well over a long period of time but massively underachieved its potential. Shares of adp wobbled around, but right now 111. 40 was the last trade google announcing a new lineup of products the company doubling down on its commitment to the hardware business as it tries to compete with devices from amazon and apple. The new devices are a new Google Home Mini and google home max. The speakers run from 200 to 400 and also two new phones. The pixel 2, 600. And the pixel 2, 850. And the pixel bud head phones can translate 40 languages in real time. Alphabet closed up yesterday, 967. 77. I already made the joke i will get a pair of those when im talking to wilfred maybe ill understand if someone is telling me what hes saying, maybe that will help me understand you understand you whatever language that is that he speaks the british proper english. Proper capitalized over there. In washington today the house will vote on its 2018 budget house and Senate Republicans need to agree on a budget resolution if they intend to pass a tax bill without broad bipartisan support from democrats. The senates budget vote is expected next week for more on the top political stories, Kayla Tausche is here as they work to reach that budget deal in both chambers, they are already adding some money to the deficit, specifically about 29 billion in new funding for Hurricane Relief that was announced by Mick Mulvaney last night in a form request for that additional relief funds for those affected by hurricanes maria, harvey and irma 12. 8 billion for femas Disaster Relief funds, 16 billion in debt cancellation for the National FloodInsurance Program and Top Senate DemocratChuck Schumer called the funding a good start the Vice President will head to florida today to visit some of those hurricane victims. Next week, we could see the fate of the 2015 iran deal come to a head last night the house said it would hold a hearing next wednesday. The president will make a speech on the iran deal on thursday that comes before an october 15th deadline that comes every 90 days where the white house would have to recertify that iran is complying. President trump has done it twice so far white house Officials Say reluctantly so secretary of state Rex Tillerson yesterday said that he would provide the president several recommendations. Well have a recommendation for the president. Were going to give him a couple of options on how to move forward to advance the important policy towards iran. That Rare Press Conference by secretary tillerson was part of an administrationwide effort yesterday to push back on an nbc news report that tillerson was quite frustrated with the president this summer and insulted him directly in front of other white house officials yesterday bob corker who is looking at retirement next year, spoke candidly about some of that frustration he witnessed. Ithink hes in a trying situation. Trying to solve many of the worlds problems a lot of times without the support and help i would like to see him have tillerson said he serves as long as the president feels hes appropriate, and the president says he has total confidence in secretary tillerson. Certainly a tense situation between trump and tillerson with several Foreign Policy irons in the fire kayla, thank you. Well see how this plays out the back and forth the nbc report was that he was ready to resign last summer, and that hes not, hes sticking around well see what happens he said he never considered it you can imagine a guy running a company like exxon for thats exxon. Youre the ceo, people you walk in the room, people turn pale hes here. Then all of a sudden, you know youre in a hierarchy i dont know. They were strident yesterday on both sides trump, this was not a well see where he said well see what happens with tillerson this is i have cohave total con in rex it was a coordinated effort, im sure, to have him come out with that press conference if he had left in the summer, that was a bad time. A key cabinet member so early in the administration. Speaking of key people, i feel bad because i said caffrey is on the show, i didnt mention matthew. For that was an error of omission im sorry, youre here were glad to have you lets talk markets and the economy as we continue our countdown to the jub jobs numbe. Big money to move where he moved. If you do the same thing, put in your time, senior economist at deutsche bank, same thing could happen down the road, right . You think . Potentially well see now we want to know about this jobs number tomorrow. How much are the hurricanes going affect it . Will the markets look past that . Its a oneoff yeah. Definitely we think theres a big Hurricane Impact on the employment report. What do you think it will be were at 50,000 for obs even though you know why, that brint will go, whoa immediately you write it off . The ism data earlier this week, the employment sub components there were strong we are coming off of three months of 185,000 jobs the market will look through the weak report, the fed will look through the weak report. The market would look through a weak report, but if you get a stronger report that could help boost odd foos for a december h. Then were back to good is bad because it means a hike. Dont hurricanes help with inflation . Its been too low, inflation, in the feds eyes regardless of what happens tomorrow, the key question over the coming weeks is what happens with inflation data. Lone inflati loan inflation has been the constraining force for the fed gasoline prices for the cpi print, you expect a strong report there we think inflation will be Strong Enough for the fed to hike in december but that is the key question a lot of uncertainty around that jack, when you come in and see futures up, no volatility in september, 24 for the advanced, do you say, wow, the fed is still easing around the world, this is to be expected or do you say the economies around the world are Getting Better its a twopart story its one of earnings are the longterm Driver Earnings have been improving we kick off Third Quarter earnings next week we think that situation continues to be positive the sectors in the economy should have good earnings. Energy markets reflecting good growth the technology sector, good Earnings Growth expected there in the shorttermer term, its a valuation story. In that regard Central Banks have been helpful. They have been a bridge between trying to get to a better tomorrow and that better tomorrow arriving in earnings. So starting to happen starting to happen for eight years. Easy money to the actual economy. Yeah. Plus as long as we stay low, even Warren Buffett says valuations can have a higher level because theres no alternative. Lower rates mean higher multiples. Lower rates are a lore hurwe hurdle rate, and you have spendinging into earnings for the future you have have higher earnings, you do 20 times earnings on the higher eps, you get higher numbers on the s p. 2600 on the s p is the next stop thats possible. Certainly possible. Jack, are you going to if you could buy calls on dow 1 million, do you think well see do you think he can can live to see those . I certainly hope to live that can. Buffett said a million. He said a million in a hundred years. We need singularity yeah. You have to get long healthcare right get long cyborgs. We need hardware we have the software i think you need an interface from the hardware to the software as a backup, im still praying. Good idea keep both options open. No reason to cut off your avenues. Thanks, guys. When we come back, does Mark Zuckerberg know what facebook is thats the question posed by the cover story of new York Magazine the author of the article will join us next squawk box will be right back. Not rebalancing your portfolio. Focused on what you love, not how your money will last through retirement. We make it easier to plan for retirement with day one target date funds from prudential. Look forward to your 401k plan. But we should be seeing ymore range of motion. , im fine. Okay, well lets see you get up from the couch. Im sorry, what . Grandpa come. At cognizant, were uniting doctors, insurers and patients on a collaborative care platform, making it easier to do whats best for everyones health, every step of the way. You may need more physical therapy. Ugh. Am i covered for that . Yep. Look. Grandpa catch grandpa duck woah ha there you go grandpa. Keep doing that. Get ready, because were helping leading companies see it and see it throughwith digital. Welcome back to squawk box. Mark zuckerberg and Cheryl Sandberg are unlikely to testify in front of Congress Next month. The social media giant is expected to face a grilling on how russiabased groups used ads to influence the u. S. Election for more on facebook, lets bring in max reid, Senior Editor of new York Magazine, and the author of the cover story, does even Mark Zuckerberg know what facebook is . Thanks for being here. What is your point its so big to get the arms around nobody knows . Were talking about a service with 2 billion active monthly users. It will pass christians before the end of the year. By the end of next year, onethird of people on the planet will be using facebook. Outside of china, one minute out of every five minutes is spent on facebook. Thats something we dont have the ability to process we dont have models for thinking about how Something Like that works or what kind of political or social power it has. Sometimes it seems like even Mark Zuckerberg who is at the top of this ever expanding network doesnt quite know what will happen. We know facebook and other Technology Companies have been seen as saviors who are doing all kinds of good work, trying to make sure that people are connected. There is reason for thinking a lot of great things will come out of this more eventually some potential down side has been focused on probably where washington is thinking, too. Yeah. Absolutely i use facebook i love facebook. Ive been on it for a decade plus it is an amazing invention in terms of its ability to keep people connected, when you have that many people all on one website, getting news from it, sharing news on t talking to one another, its very easy to manipulate it. Facebook doesnt have the protections in place and certainly government has not regulated it in a way that ensures that accuracy, that responsibility is at the focus its scary. I have never been on it. What youre describing it like if you were, you know, if Mark Zuckerberg was an evil person its orwelian in that there would be no dissent. The Business Model is to monitor you, gather data and create advertising to target you. I think zuckerbergs heart is in the right place, but this thing has gotten so big, not even a saint could really make it work for us you followed him around yeah. Ive been talking to people he has spoken with. Hes doing a tour. Hes challenged himself to have visited every state in the United States by the end of the year a lot of people talked about this as a president ial run, or a run up to a president ial run in talking to people hes spoken with, i feel confident hes not planning on running for president. What is the tour about . I think its r d. He wants to meat with peopmeet facebook people and find out how they can be placed more at the heart of their own community and Group Gathering and social you benefitted from that, having all those different homes, right living everywhere. Yeah. Definitely does benefit. It changes your perspective. You have a much broader perspective. We both know provincial people who have only been to new york its very telling. Yes you do need to get out and make sure you meet with people from all walks of life. The flower states stop in its admirable. Probably more big ceos could stand to do this, meet with people right hes been pointing out this is a mission to understand how people live. He meets with religious leaders, with civic leaders, talks to people working he talks about how facebook can better form communities around the country. All admirable, all of these goals, but theres been a tide thats turned. We know this congressional hearing is coming up, which is likely going to be a grilling. Do you expect the end result for the government to get more involved or can they skate past it its hard to tell it depends on how mu