Spending, and auto sales. And then finally on friday, we get that big july nonfarm payrolls report. Economists are looking for about 184,000 jobs to have been added for the month. Meantime, the Unemployment Rate is expected to fall to 7. 5 . But joe, its going to be really interesting watching a lousy gdp number, probably a good jobs number and seeing how the tenyear reacts to each of those numbers. How do we know about the jobs number . Were ready for a bad one. You think it will be good because of the claims numbers . I dont know. I dont know either. Were ready for either. How the bond market reacts to good news bad news potentially. And the feds going to be in focus this week. Yep. Talking about the fed . So sick well, if its not humphrey hawkins, a twoday bernanke thing, now its the fom. I dont remember in my life being so controlled by any every fed decision. Then the minutes release later of what they said. Its constant. And theres such a big part of our life. I think its a sad commentary on how much of the economy at this point is controlled. And i guess it is important who we pick. Its huge. You see who the journal has on both sides of the editorial page, theyve got something that you kind of cringed when i said it, but its all framed in gender wars. Christine roamer says if its not yellen. And then Larry Summers that made the comments at harvard supposedly. That inflamed women. Its all framed. If obama does not pick a woman, then its going to be a huge, you know, problem for the left. Then alan blinder. You know who his pick is. Who . Well, it totally cements my position as a huge Larry Summers backer. Oh, my god. The journal points out that never has she said anything in her entire time that would cause you to believe shed ever pull the punch away from the punch bowl. Whereas blinder says every decision shes ever made has been great which shows you where theyre coming from. The front page, on the front page of the journal laid out a study where they looked at all of the fed officials to see whos been more right about the economy at this point. You can say the people who have been dovish have been right because maybe theyre always dovish and maybe things have gone their way and they didnt predict things like tsunamis. The hawks fared much worse than the doves did, if youve been looking since 2009. Right. Since 2009. It was a study done from 2009. All in the face of, you know, an activist government that some still blame for the sluggishness, which, you know, well see. I dont know. I mean, it is bad that the feds such a big part of our lives. And were at 7. 5 unemployment. I would bet just about any investor would want to look at the fed more than just about any other piece of economic information. Right. Earnings are good, though. I like how you pointed out the glass half full. Well, weve reported half which means half are left, right . Thats right. Yea. We still have more to go. About onefifth of the s p 500 companies are due to report this week. Among the sectors in focus, bp, exxon and chevron all post reports. Of the companies that have reported so far, 68 have beaten earnings estimates. Meantime, 56 have topped revenue forecasts. And were going to talk to someone whos kind of like an outlier on earnings. Agreeing with jim cramer in a couple of minutes because his point is that, yeah, everyone did lower a little bit, but the numbers are so big that even if they hadnt lowered expectations, they would have still beat. And same with revenues. He says its been a great yeah, and bernstein pointed out that you havent seen as many negative surprises. Sanford or Richard Bernstein . Because theyre both about you say bernstein, it could be either one. It could be the large firm which takes hundreds of people just to match the opinion of one Richard Bernstein. We also have a few deals to start this week. The big one from the weekend is the global ad agencies. Publicis and omnicom reporting. Its billed as a merger of equals. I like that quote. I dont think it can go much lower, to be honest with you. I mean, if it goes any lower obviously. Its down 100 . This deal could bring rival accounts such as coke and pepsi under one firm. Antitrust review is needed in about 45 countries. The ceos of the two companies pledged to handle concerns from major clients. Whats good in this operation is that we are both entering into negotiations from a position of strength. There is no one weak partner. And there is no one who has Financial Difficulties or anything like. So we believe that this will be a great operation for all our people, our clients and our shareholders. Its going to be delicate in its execution, but the sooner we get on to it, the better off were going to be. Both those ceos will join us at 10 10 eastern this morning. Also in the pharma space, perego is buying ilan for 8. 6 billion in cash and stock. That deal is valued at 6. 25 a share in cash plus another 10. 25 in stock. And a third deal not yet announced, Brian Sullivan reports that sax will be acquired by lords. The deal was signed yesterday and is valued at 16 a share. An announcement is expected this morning. I was hoping stern would buy. I was, too. Only because who knows . Its not like hed ever give us a tie. I like the one youre wearing. You do, really . I do. This was from penelope. She played in a golf tournament. And she got to pick a mans tie. Its an izod, which i never thought id wear an izod tie. Those are good colors. If i was a label guy, i probably wouldnt show you that. Anyway, lets check on the markets. The futures indicate lately lower, down about 33 points or so, down 5 on the s p. Well see whats wagging these markets today. And i wouldnt imagine that i dont know, people in a bad mood because of that. Almost 2 in shanghai. The nikkei down 3. 3. Do the math. That would get your attention. Then in europe, theyre all up. But not much. Lets look at oil. The oil board, thats been stubbornly above 100, but coming down slightly, 104. 53. The tenyear, i saw, was at 2. 56, almost 2. 56. Dollar n , if were going to europe, its got to come down. The euro, slm 1. 43. Gold on a little bit of a run. Im thinking about buying some. Really . Because of man q. I read man q. s piece in the New York Times over the weekend. He mentioned buffett and all the people that dont like it. Just because its noncorrelated with anything else. He says 2 of your portfolio could be in gold. Are you going to buy it anyway . No, no, no, no, no. Store it. Yes. If i could find a place to buy them where i didnt have to buy a big not a lot of them, but id maybe buy a few of them in case i need to bribe someone in the future for something. Always thinking. For something. Im not sure what. But if paper money is ever useless. It could be food. It could be passing you know, going through a border somewhere. It could be more ammo. I dont know. Grrr. Argh. Could be the zombies. And theres no dentists available. Zombies arent going to take gold. Zombies dont like gold. Time for the Global Markets report. If i ever want to give ross a nice gift. Something gold. Hes standing by in london. Im trying to think, babys about a week old. They got through the weekend. Do we know any details is it colic . Is there im not going to ask if theres bfing going on. Not best friending. Breastfeeding. Thats tmi for the rf, for the royal family. Do you know . Are they talking about it . The tabloids in britain talk about anything. They will. They will. I havent im sad to say i am not up to date on the latest. We havent heard anything particularly scaremongering or talking about feeding tips or anything else. Ross doesnt want to. No. Feeding tips. Little decorum. Thats nice. Its not like your tabloids have any you know, you brits act all high and mighty, but youve got the sleaziest media in the universe. Youve got to have yin and yang, joe. Is that what it is . I guess that is what it is. Did you understand this advertising did you have you looked into what Advertising Companies do now, ross . Its like highfrequency trading. Did you see that . Yeah. They said and five years ago, they had none of these competitors five years ago. Its all hightech competitors, these guys. It looks to me like two companies that need to get together just because business is so tough from competition. Well, yeah, i mean, interesting is publicis has made a big move into digital and say were not getting involved in that game. I mean, thats an interesting deal. Its fascinating. I was talking to the ceo of havas. This story came out in the sunday times yesterday before the announcement. He had been quoted as saying pigs might fly. And i spoke to him, he said, look, we never thought this was a deal that would ever get done, but clearly theyve laid it on the table. And whats interesting about it is, for the likes of havas is the potential business its going to give them. Publicis stock wont start trading until about 3 30 this afternoon paris time. We spin forward to two of the european rivals, if this deal gets through, a lot of antitrust concerns, wtt up 1. 70 . Havas up 5. 5 . If this deal went through, youd have, in the same house, apple and samsung. Youd have coke and pepsi. And youd also have nike and adidas. Theres a theory that those guys dont want to be handled by the same marketing and advertising group. So these guys are fairly hopeful, yeah, we want it to go through. Were not worried about an antitrust. They want a chance to pick up some of those big clients. The other question is a Credit Company with 120,000 people in it, how do you merge that and get the culture right . Its very much a people business, as we know, in the ad world. So plenty of question marks surrounding the structure of this deal. Theyre quite impressed, both quite impressed that the way the deal was structured. Good deal pore publicis, bearing in mind a smaller business, a merger of equals as well. Will it benefit the clients . Thats a separate question. And of course, it is about the clients and the customers at the end of the day. A couple other stories were also following today as well here in europe surrounding the corporate focus. Barclays down 3. 5 . The report yesterday theyre looking to raise 4 billion in potentially a share hike, selling shares to meet concerns from the bank of eng land. Theyve come out with a statement saying well report more after results on tuesday. They have been talking to the regulator. Siemens up just a tad. Peter loescher saying that the executive board is going to get rid of him on wednesday. Theres going to be a meeting. Hes had a second profit warning. He came out at the end of last w week and scrapped the target. He says hes not going unless the chairman who hired him also steps down. Those are the stories were following. Back to you. I love that. Wpp is up. Its like no, no, thats fine. Yeah, go, sure. Theyve not no problems with this merger. Its like some of us here all have the same agent. Do you know that . We all have the same agent. And we wonder, how does that work . They have coke and pepsi. Yeah. So clearly some people some accounts will get dropped off. Or if not, one of those accounts will say forget it. And theyve got to go somewhere else. That was a good point to bring up. That was a good point. Ross, you managed to completely disgust me when you were talking about this new hamburger thats coming. Stem cell burger. Yeah. Thats the grossest thing ive ever heard. Created in britain, 250,000 pounds, about 350,000 of research. Its been made. Its going to be cooked and eaten next monday. And it is made from about 3,000 separate strips of beef that have been grown from a cows stem cells. This beef has been made in a laboratory, effectively. It is a completely, in that sense, artificial beef burger grown from stem cells. The thing about it, if it works, its revolutionary for the food industry. And talking about this big jump in demand for protein. It takes if youre going to make beef burgers from stem cells, you use 90 less water, 80 less feed. Its all those statistics that theyre looking at. Would you want to eat it . No farting cows which cause a lot of supposedly cause a lot of the meth i dont know, something. Greenhouse gases, all the farting cows. Quite awhile smith yesterday in the post about the most perfect created. Blueberry. No. Blueberry is the best for your brain. Double cheeseburger at mcdonalds. 23 grams of protein. You know how its got this bad rap and you should be eating kale crushed up in a blender . Neurologists have said the best food, if you have one food you could pick, it should be a blur berry. I would eat a hardboiled egg. Im going to send this to you because mcdonalds gets a bad rap from all the froufrou lefty kale bloomberg types. They have salad there. No, theres nothing wrong its only 399 calories, 23 grams of protein, its got nothing bad in it. Its got some vegetables in it. And you think of it as youre going to die and get fat. People eat fast food, apparently people that eat fast food once in a while arent necessarily fat because they dont gorge at home. Im going to send this to you. I think its variety. And i think its moderation. Everything is moderation. Thats right. But im going to send this to you. Ross, thank you very much. When we come back, steven cohen throws a Weekend Party at his hamptons vacation estate. Greatest food in human history. Double cheeseburger . Mcdonalds double cheeseburg cheeseburger. Plus, amazon announcing hiring plans before a visit from president obama. And we have a live report from egypt. Supporters of former president Mohamed Morsi are holding a sitin a day after deadly clashes with Security Forces this weekend. Well have the latest when squawk box comes right back. Welcome back. U. S. Equity futures indicated down about 32 points. A lot going on this week. Well see. A little soft last week in terms of the averages. Although we were at some highs earlier in the week. Making headlines, amazon unveiling a new hiring spree saying its looking to fill more than 5,000 fulltime jobs at 17 of its Fulfillment Centers across the country. President obama is going to visit an amazon distribution warehouse later this week. And Hedge Fund Billionaire steven cohen threw a party this weekend at his hamptons home despite criminal charges against his capital firm. One source said the lavish affair included delivery of 2,000 worth of tuna from a local fish store. The party was planned before the party. A few dozen attended. Thats a lot of tuna per capita. The party was said to show support for Ovarian Cancer research. Though it was not a fundraiser. Barnes noble says its reasonable Financial Statement should no longer be relied upon. It includes statements for the last four quarters. Nice. And for the fiscal year that ended in april 2012, the book seller says the statement overstated certain accruals, and its going to issue updated financials. Lets get a National Weather forecast from alex wallace. Alex, good morning. Good morning to you. I tell you, it wasnt a good sunday in and across the philly area. Incredible amounts of rain. This is for sunday. Eight inches of rainfall. It was an alltime oneday record in philly leading to all sorts of flooding problems. The good news is the system that brought that activity to philly is moving out of the way. This cold front, which is still going to be impacting across new england, showers, maine, places like portland, boston, that will be fairly quick to move. We dont anticipate to see that amount of rainfall like we saw in philly on sunday. Clearing behind our front. So a Beautiful Day in pittsburgh and dnc. C. Those areas in the 70s and 80s with that sunshine as High Pressure builds on in for tomorrow. Everyone gets the chance to dry out. Looking really good for the northeast over the next couple of days. Once we get rid of the showers in new england for today. Behind all of this across the midwest, feeling a little falllike. Middle 70s for highs. Feeling a bit like midseptember in detroit for at least a day. Then well see things warm back up into the lower 80s for the remainder of the week. Again, feeling really, really nice. Its all thanks to the flow coming in out of canada for the upper midwest and great lakes region. Those temperatures going to feel pretty nice for this early week. Then as we get into the middle of the week, High Pressure builds back in. Well start to warm the numbers up a little bit. Instead of seeing high temperatures mostly in the 70s, well see a few more 80s to deal with as we head on through the week. So 76 in chicago. Cant beat that. Once we head into tomorrow, actually cooler in chitown, 73. Well below average and feeling good. Guys, back to you. Alex, thank you very much. It was a vie leolent weeken egypt. Yousef gamal eldin joins us. Can you tell us what the situation looks like right now . Reporter becky, tensions are still very, very high in cairo and across the country. You mentioned the violence, really the most intense its been since the ousting of former president Mohamed Morsi. And also, there is a possibility for further escalation because youre seeing supporters of the former president out on the streets. They are trying to hold morallies and calling for a millionman march on tuesday. And on the other hand, you have the government and the military clearly losing its patience, saying that they will no longer tolerate the kind of sitins as they have in the past, and saying that they will try to break them up. So the political impasse is widening, interestingly enough, eu Foreign Policy chief Katherine Ashton in the country to try to mediate between the different parties and said that the Muslim Brotherhood would need to be part of the road map of the future of this country. And also some concern that has been voiced is the possible return of some of the crackdown methods and also some increased powers for the Prime Minister that would allow him to ask the military to kraarrest civilians. Those may be disconcerting developments on the political front. Because the lack of National Reconciliation will mean little progress for the economy in the long term. But if you take a look at the stock exchange, trading slightly to the down side today and slightly to the down side yesterday, really masking a p