A lot of selfies. Including one with the shows star, steve bushemi. I to this take think those were only flashes. None of those cameras had any film in them. When you walked the red carpet . Yes. And to get that many people to cooperate, to pretend they were not pretending. Well, they werent, but we did get introduced and they were like because what happened is you were so late because you didnt know where the bridge was, you were so late that all the stars arrived and they all go in last. So we walked through with them. So they were confused. They were like, theres a lot of customers. They thought we might be part of the andrew it served you well in that case. It did. Otherwise we would have been welcome but then you left and i walked the whole premier alone. He was this is what a the mandate. It wasnt a mandate, but theres wing men and theres buddies and i was there. I was there for you. You were there for ten minutes, andrew, and then he left and i sat for a hour at boardwalk empire totally alone. You had some news to break. Check out the front page of the New York Times if you want to know where andrew was busy. Were going to talk about that more often the. The front page of the New York Times, wow. On cnbc. Com. Left at the altar with mayor bloomberg. The bulls facing a major catch today. The s p coming off back to back losses for the first time in a month. Now, the two biggest events to watch, the ecb meeting in europe and the adp report here at home. The European Central bank expected to hold rates steady. That announcement due at 7 45 eastern time. But the real news is likely to come in in, Mario DraghisNews Conference. That comes at 8 30 eastern time and thats when the central banker could announce at least a hint, maybe, possibly stem ewe husband measures to boost the economic recovery. Draghi fueled market speculation when he diverted from that prepared text in jackson hole and warned Inflation Expectation is falling. At 8 15 eastern time, the august adp report polled forecasters saying the economy added 215,000 private sector jobs last month. Then at 8 30, were going to get weekly jobless claims. We get International Trade and a revision to the Second Quarter productivity and costs, thats 90 minutes later. Ism nonmanufacturing throughout the morning many of the nations retailers will be reporting samestore sales. A lot to look forward to. Take a look at futures ahead of all of this activity. Right now, you can see green arrows, the dow opened up about 15 points higher, the s p 500 close to 2 points and the nasdaq, well call the it marginally up for now. In corporate news, the Ground Breaking morning show squawk box is coming to you from new york city. Isnt that where i think thats that line. How many people have radio did you see i did. The music hall radio city through this pen you can hit this. And this is a really this is so cool. I wish we could move here permanently. A security website warns that almost 2200 u. S. Home depot stores may have been hit by a massive data breach. The retailer hasnt confirmed yet that that breach occurred, but says its working with leading i. T. Security firms to investigate the situation. Shares of home depot are down nearly 5 this week. But you can see that that is at an alltime high when all the other retailers are talking about a weak consumer, home depot is posting like 6 samestore sales just finished talking about frank blake like he was the second coming. So american dictates that. And thats the point, though. Apple totally defending apple. Whats happening to you . How is it not his fault . When something happens on your watch. No, the question is going to become is it really everybody has their own security. Were going to find out. Target had legitimate problems, meaning there was indications and they didnt do enough about it. Are we going to find out home depot didnt know enough about it or, in fact, they had pretty secure systems and the hackers got through . So i think theres going to be a question mark about who ultimately do you hold responsible . Look, i think this could happen to any retailer. I think its likely to happen to most of them. In fact, i think we hear about some of them, we dont hear about others. So i do think its a broad based problems, but retailers need to elevate this to someone in charge of security, someone who sits on the board or directs is board and weve heard the retailers are the ones that dont have enough security. Its different from the banks where theyre spending hundreds of millions of dollars trying to protect well find out. Maybe its a home depot the dow component. It is uncharacteristic. A big win for Goldman Sachs today. The firm is reportedly going to be the bank thats in charge of overseeing early Share Trading in alibaba. That ipo is highly anticipated offering in years to generate big fees for goldman. Barclays was said to be the leading floor trader. An official ipo date has not been announced, but the big event is expected next week. And its nouft jt about alibaba, but its about people that have in the market. What could this thing do, depending . If youre an underwriter, id go nice, but not too knight nice. I would want this thing to double or close to it. And theres a chance it could. The argument is that you want things to do well, but you dont want to waste too much money on the table. Obviously, youre Still Holding i always do the double because 5 by 95. Even people that of course, when people buy in the aftermarket, they its like they pull up the bag. Why dont we keep an eye on shares of yum brands today. That stock taking a hit after the company warned samestore sales in china probably fell by about 13 in the Third Quarter and continued to decline. Sales were hurt by another foot safety scare. In late july, news surfaced that a former supplier was said to have used expired meat. Back here at home, fast foot food workers are planning to walk off their jobs in major cities across the country today. Mcdonalds, burger king, wendys and qtc are likely to be affected. This is the latest effort by an Ongoing Campaign by fast food workers to get a wage increase. They want minimum wage of 15 an hour and be allowed to form unions with that retail age. Here is the story that interrupted my mandate with joe. A brief interruption. It was like going to a movie and leaving in the middle and coming back. And then i couldnt get back to where i needed to be in terms of, you know, having fun and Everything Else. It was a date that we left the evening really very nicely, though. We did, we did. It was fun. I told you that after you made me wait 50 minutes, when i was hoping and praying so much that you would come and that i would see your face, i just was not comfortable. Like, is he going to show . And when you did show and my heart leapt because andrew showed, that made me i dont know. It showed me a new side, ill tell you that much. But if you hadnt come i will tell you something that did happen because you didnt every actor walked they thought i was security. Every actor walked past the door where the red carpet was. Not a single one watches who immediately wanted pictures with us . The agents. The agents. The agency, aa, all these and right after we got to bushemi, the two of us, he was like, yeah, sure, if we must. But right after that, people had come up and mobbed up and were getting pictures. But he is already turned around. My heart leaps every time easy you, every morning. I know you dont believe it. Makal bloomberg is returning as head of the Data Financial news company that he founded 33 years ago. Current bloomberg lt president co dan docarov is stepping down at the end of the year. This to me, you just dont Michael Bloomberg was not expected to come back. He was planning on working with philanthro philanthropy. I started hanging out at the office a little bit, then a little bit more. Didnt stay in bermuda . Dan said mike is like a god at the company. He created the universe, issued the Ten Commandments and then he came back. When god comes back, things are going to be different. When god reappeared, people defer. Tan was the one who wanted to step aside given the power dynamics. I think its tough to be the ceo of a company with the founder with his name on the board is one cubical away. Were basically talking about the global box business. Terminal business. Is that what we call bloomberg . That is 99 of what it is, right . 99 of i mean, they have the media component. West law and normally, we would be hesitant to talk about competing services. In this case, i look at him fondly. Hes been around for so long and you need competition. Me do a good job, i think, but they never have i dont know. At this point, is it a competitive threat to cnbc or well, we should talk to the ceo about it, who is going to be on a in a little bit. My question is for the future of the company, they took it more in a consumer basing direction and are creating these verticals that are there. The question is mike going to continue with that strategy . And he says he is or longterm if you are a terminal guy and what that means. In the United States competition is never a bad thing. Its people looking for the same market share and it makes people better. It could help. Its always good for competition, right . So we dont want the markets. Wow. And youre in favor of this one. Good. Lets get a check on the markets this morning. If you want to take a look at whats been happening with the futures, youll see right now that the futures look like they are indicated higher, up by about 13 points for the dow futures, s p up by 1. 5 points. Take a look at whats been happening with oil prices. Crude oil recovered mostly the losses weve seen the day before. This morning, down by about 44 cents been 95. 10. The tenyear note, yields yesterday picked up a little bit. Right now, that yield is down below where it was yesterday at this time, yielding 2. 40 5 . Also, the dollar this morning, looks at this point like it is indicated up across the board. The euro is trading up at 1. 31 4 5. Gold prices at this point slightly higher, 1,272. 50 an ounce. Ahead of the ecb meeting, seema mody joins us now. What . Were in new york and youre in london. I have to come across the pond to be on this show, too. Its really interesting for european markets. The prospect of a peace deal between ukraine and russia sent european shares higher in yesterdays trade. But today markets are slightly lower ahead of that allimportant ecb decision. Prices headed towards what seems to be deflation, geopolitical tensions o rise, specifically between russia and ukraine. The pressure is on for mario draghi and the ecb to come together with a plan of act. The big question is whether the ecb will unveil immediate steps. Possibly by purchasing government and cooperate bonds, kwaut tafb easing, reducing rates, that seems to be unlikely since rates are so low. Another option is buying Asset Backed Securities for eurozone banks. The meeting will take place in about three hours, followed by an allimportant draghi press conference. The ecb for draghi, late august at jackson hole said that the ecb will use all available instruments needed to ensure price stability. Since then, you see the stoxx europe 600 index gaining about 2. 5 . The latest read on gdp was disappointed. Inflation has dropped to a 5 1 2 year low. Unemployment is at 11. 5 . Which is pretty much at the same rate it was at this time last year. So a lot of challenges facing europe and thats why well be keeping an eye on the ecb decision. Ahead on that, european markets slightly lower. Back to you. Thank you so much. Well see you again tomorrow. In the mean team, European Central bank is hoping that monthly policy meeting today, market are anxiously awaiting that announcement because it could be different this time around. Teresa marr, sri, darrel, gentlemen, thank you for being here today. Thank you, becky. Wooerp playing up this whole idea that the ecb decision could be different this time. Mario draghi signaled that maybe theres something more on the table. Do either of you think there is going to be some sort of stimulus today . Mario draghi keeps making announcements frequently. But i dont think its going to be anything significant. Theyve already made the rates slightly negative for banks which are leaving money in the ecb. Its a little more negative today. But thats not going to do anything to turn around the eurozone economy. Seema has been talking about the problems with unemployment. Even germany has had a drop of gdp in the Second Quarter. What if eurozone needs urgently, will the motorcycles flip ability like you have in germany, and whether the Interest Rates minus 50 basis points are not going to make any difference to you any longer . Do you agree with that . I do. I think you could see an announcement with additional negative Interest Rates as sri is outlining. I dont think we see quantitative easing across the sovereigns like a lot of the markets want to see. If thats the case, what happened with the euro . The euro has been under pressure on the expectation that we could see something more. Does it stay at these levels or shoot back up . It looks to us like the euro might have overshot the down side a little bit at this moment. But actually, we went tactically overweight europe equities. We think theres good value there right now. The negative surprises relative to places like the u. S. Are at extremes and the underperformance is there to match. We think theres value. You look at europe, its trading at 13 times earnings next year. We do think the ecb will continue a monetary easing path. Maybe not qe, but a monetary easing path. And the yield is 3. 3 on european equities right now. Years, they always come up with a plan for a plan. But theres and the euro is overbought . That thing is worth like 1. It is. What do you mean its over who would go long the euro longterm given joe, i would agree with you. You do . At 1. 32, i think its grossly overvalued. It needs to be but the people have been saying that for years. The reason is, i think the problem is more on the u. S. Side. Anytime the euro looks like its about to weaken, you have a before that that ben bernanke state of further easing. And that causes the dollar to weaken. In my opinion, the euro strength has little to do with europe itself. The german bond has gone below 1 . The liquidity expresses, has done anything to weaken the euro yet. With the economy were in right now, people are looking at it saying this is insane. Ism, unemployment, all these things are doing so much better. If yellen ever does become a little less dovish spot on. Thats what i think. But i dont expect yemen to become any less anytime soon. I would see her becoming more dovish. I dont see any increase in the United States in all of 2015. The tenyear is going with 2 when everybody is looking for it going from 3 to 3. 50. Im not sure that we could necessarily agree on that particular point, sri. I think 2015 is definitely the year we start to see the Federal Reserve reduce or raise Interest Rates. Durable goods, ism, construction, newhousing starts, existing homes, its all beating consensus consistently every single day over last two weeks and beating it by a lot. It has to change. And i think that will happen. And while i see the point and the strength in ism, a lot of that is happening. The question you have to ask is its taken out of the oxygen tent. Rates are going to go up, thats when well see the test for the equity markets. Not much. The new Prime Minister has made some steps to cut taxes. That is so far down that road, though but the labor market is still very rigid. Each though we have worried about drift, were still nowhere near nowhere near that. One other thing, joe, remember from a Capital Markets standpoint, weve seen this movie before, right . 13 times forward earnings, monetary stimulus coming. Things are not completely broken in europe. Its a good entry point for investors, i think, at some of these levels. Darrel, sri, thank you both for coming in. When we return, George Clooneys big scam to turn the celebrity hacking scandal into a movie. Plus, are you ready for some football . Big day is finally here and you can see it on nbc tonight. Well have the squawk pregame coming in the next half hour. [ male announcer ] the wish we wish above all. Is health. So we quit selling cigarettes in our cvs pharmacies. Expanded minuteclinic, for walkin medical care. And created programs that encourage people to take their medications regularly. Introducing cvs health. A new purpose. A new promise. To help all those wishes come true. Cvs health. Because health is everything. Welcome back. George clooney has a new project. Rupert murdoch should be taking notice. The Hollywood Star wants to draekt a film on the hollywood phone hacking scandal. Its on how the guardians exposed the extent of the hacking. Sony pictures is the studio behind the film. No plans at this point on anything on lois lerner or the irs. Hard to believe he tried to cast Rupert Murdoch in a bad light or something. This is what they need to do. Remember the fox time warner deal . Remember the look of the faces of people . How high did they go . In terms of pure drama, being able to hack into the phones. You can see it in your heads. You tell me about sloonny, im not going to like what hes doing. Hes from cincinnati. I know his father. Hes a huge news caster my whole life in cincinnati. Korea. No plans for the lois lerner issue. The reported home depot security could have impacted any story in the u. S. Regular kwan has that in her latest response from home depot. Its dangerous when i say this stuff. Am i allowed to say this stuff in new york city proper. Youre not going to make it out. Maybe not but is george here . Maybe thats the death star over george is in new york all the time. He could be sitting next door. Yeah, he might be. We need to be concerned about home depot potentially if we shop there. There are many, many stores in the