S p futures down by just over 3. 5 points below fair value. Take a look at whats been happening with oil prices. Yesterday, crude oil settling at an eightmonth low. That was the lowest settlement this year. You can see theyre down once again this morning. Down another 46 cents to 91. 71. Take a look at whats been happening in the treasury market. The tenyear note at this point looks like it is yielding at 2. 516 . That had been the highest close that weve seen all the way back since july 31st in terms of the yield. The dollar this morning, at least at this point, looks like it is down against both the euro and the pound. The euro is trading at 1. 292 up against the yen at 106. 92. If you take a look at whats been happening with gold prices, under pressure despite what weve seen in terms of geopolitical concerns. Gold is down to its lowest level this year. 1,246. 60 an ounce. Andrew, ill send it over to you. This will be the first of the companys sales since last november. Lots of question about what theyre going to use that 1. 3 billion for. A lot of companies have done similar debt offerings in the last year. Google being cheap right now, but leading to questions and speculations about acquisitions that this may be doing. China may miss out on the first wave of new iphones. Apple says the latest version of its iphone will go on sale september 19th in other markets. So far, the company not setting a release date for china. That he have new big phone, the 5. 5 inch phablet. Shares up 3 in the last week. Trading has been choppy. Cell phone competition heating up following that big announcement by apple this week. Tmobile announcing its going to be selling smartphones with a feature thats going to let users call and text on wifi networks. This is pretty cool. There are messaging apps that let people do this. Tmobile has been trying to attract subscribers from its larger rivals. So apple managed to close higher yesterday. It did. Not by a wide margin, but they did. The day before was off a little. Managed to attract buying, up a couple dollars at one point. Im moving with you on the why. Im still enamored conceptually with the watch, but im at on a scale of one to ten, my interest level is negative one. So i do think the payments the payment thing is very cool. The new phones, im going rub out and buy one. The watch im on hold for. I try not to pay for that many things, anyway. I can get my credit card out pretty fast. Although, you saw the oil, i want to talk about that and gold. Neither one of them, both of them should be moving on the world which looks like, you know, im expecting an asteroid to hit us or that solder flare something came out yesterday that said ebola could affect production in nigeria. Take your pick. Its the Seismic Shift in the u. S. Fed as we go from five years of ease and no matter how long it takes in the euro 1. 29, its starting to dry up and its going to go the other way some day. Maybe thats it. That would affect that might be the most powerful thing. The other thing is maybe a new slowdown. Just a general below average. And to keeping oil, you dont use as much. But its very weird. These are big markets. Dicker was on yesterday saying i dont believe where oil is. And theres going to be a super spot. Ra super spike or theres no silver or something that you can corner the market in. Individual stocks, shares of jds soaring. The network gearmaker announcing its going to split into two separate entities. That company has been under pressure from sandal asset management. And retailer five below posting betterthanexpected earnings. But its outlook disappointed investors. What do they do, do you know . Its a teen retailer. I thought five below was the five below stores, everything in there is five bucks or below. Oh, yeah . Yeah. Hot stuff. Now im on the website. It is you knew that since youre young. They have good stocking stuffers. But its most le between 1 and 5. Stocking stuffers, for christmas, things that well, things that you would give to friends if youre giving them stockingings. Because, obviously, santa takes care of the rest, right . Okay. All right. And a watch i thought you meant stockings. I thought this was the company no, you keep your eye on restoration hardware. The company is turning in mixed quarterly results. Now lets get back to this mornings top stories. President obama laying out plans to battle terrorist threats. Now, it will take time to eradicate a cancer like isis. And anytime we take military action, there are riskings involved, especially to the service men and women who carrie out these missions. But i want the American People to understand how this effort will be different from the wars in iraq and afghanistan. It will not involve american combat troops. This Counter Terrorism campaign will be waged through a steady, relentless effort to take out isil wherever they exist using our air power and our support for partners, fors on the ground. Joining us now, john harwood and retired army colonel jack jacobs. Before we get to you, colonel, let me talk to john. I watched a lot last night as people conjectured beforehand. And most of them, john, said that the president has kind of a difficult job and walking an interesting line. Now, i havent colated all the commentary this morning from the six papers that i have, but politico said they called it the speech the president wished he would never have to give. The journal says the president gambled that the delay was worth it, talking about ousting the former regime in iraq before doing any of this, trying to lay the groundwork for something more lasting. What is the reaction so far, john, from all different circles . Well, i think the biggest story in the reaction is that there is more positive commentary from republicans than on anything else the president has done in his term so far. It was hedged and republicans continue to raise questions, which are legitimate questions, about whether the president s own previous policies contributed to this cancer, as he called it. And to the spread of this cancer. Nevertheless, you had people like john boehner, the house speaker, saying he made a compelling case for action against isis and you have republicans signaling that theyre going to give him the authority that hes requested. Its the bear minimum authority in this context that he could ask from congress to up the training and equipping of Syrian Rebels in saudi arabia with the idea that they will then be the boots on the ground to prosecute the u. S. Strategy. Some democrats are wary. They dont like the idea that we may be heading back into what are. Although the president doesnt call it a war. Did anyone really say that, john . The converse of the republicans praising the president is that his own party saying, you know, you were supposed this is you won the Nobel Peace Prize for peace. Are there people on the far left saying, we dont know you, who are you, what are you doing . Not exactly like that. They cant right now because if they do and something were to happen and weve had a couple of the hatings already, that is a tough and its kind of a tough mealy mouth. Normally they would. I think theyre afraid to see it right now. That is why there is a space right now for the president to do what hes doing. Public opinion has shifted. We saw that in our nbc wall street journal poll. 60 of the American People, which is triple the share who thought so a year ago, say its in the u. S. National interest to have military action in syria. That is the context in which the president is acting and its a significant moment. Politico was right. This is not a speech he wanted to give. Hes deeply reluctant to reintroduce the idea of American Military action in the region. He rose politically by being opposed to the iraq war. He said that when he came into office that he wanted to end both of those wars. And yet were at a place in the sixth year of his presidency where he is now feeling compelled to act. Hes going to get some support from republicans for that and dominant support in his party. Thats going to term action here on out. Colonel, well go to you. But i had a chance to hit up the huff post. Theyre calling it the long war. Its too long for the huffington post. I guess the speech ran too long or something. And illegals in quotation marks with a question and rand paul. You know, the roughing ton post always quotes rarchbd paul when they want to make an important point. Rand paul opposes the plan. There you go. Theres the left, colonel jacobs. Is it enough, do you think, no boots on the ground, can we accomplish the goals, colonel . The short answer is no. If you want to degrade isi is i, you can do that with air strikes. Its not going to get rid of isis. Air strikes are only good to support troops on the ground and nobody has troops on the ground. What is this . Is this some kind of political oh, sure. Is this anything more than playing to the polls . Well, the president gave exactly what the people want. The people want something to be done, but dont want to do it with us. The president is not going to be able to get the saudis to do anything except to give us some space inside saudi arabia to train people. We might be able to get some money from them. But what is really going to change the arc of the discussion on the ground in that entire really is Multi National forest from people who are threatened, like jordan, for example, who are running around with their hair on fire and properly so from lebanon, from saudi arabia. Right now, all the money is going the other way. Literally. Isis, they have control but theyre getting big contributions from people in the gulf states. Its basically a contributing enterprise. And those people who are closest to it in the region are not contributing anything. So the president is giving the American Public what they want to hear. Do something, but dont get us involved. Colonel, who can we expect to team up with, the rebels in syria . Are they Strong Enough at some point to go ahead and take on isis . We dont know who they are, really. We talk about the president was talking about moderate rebels. Its sort of an oxymoron. Moderate people dont rebel. We dont have anybody inside syria on whom we can rely. In the end, we plight drop some bombs, but thats not going to change anything, either. We need to get to be partners with iran and assad. Those are the guys that are at stake here. Hes not going to say that, but thats whats going to be required. Hey, colonel, last night they were saying of course we are who they are. We should have armed them three years ago. Do you think hes wrong about that and do you think he has exaggerated the capacity of the Free Syrian Army to take on assads forces and isis . Yes, we sort of now who they were. Isis did a pretty good job on ass assads army and got rid of the iraqi army. You dont have the iraqi army anywhere in iraq doing anything to defend itself. So just armying people doesnt do it. We need a genuine coalition. We need to get people in the gulf supporting these guys. Right now, the character of american diplomacy is historyonics and hand writtening. Thats not going to do the trick. You need people behind the scenes to identify the people on the ground who will benefit from the United States launching cruise missiles and isis positions. We dont have any of that. Were going to drop some bombs. And i think the estimate of three years is woefully inadequate. I think that general mcchrystal some years ago was absolutely correct when he said this kind of thing takes a deckade or more and the president basically, like i said, is just giving the public what it wants to hear. Yeah, its going the take a while. Its going to be in the lap of the next president. And i would be pleasantly surprised if we have positive action by the time the next president takes the oath of office. Colonel, you know, its september 11th. Yesterday, i think that anyone that didnt at least think about whether the threat has increase ed whether because of the calendar or isis, someone made the point on the discussions yesterday that this is the most savvy social media group ever and they can easily, if they have any i dont know. Were there ever any cells here, hidden cells . Remember how 13 years ago, everybody you looked at was like a hidden cell. Do you get the feeling that theres isis people here already that could be contacted is that something to worry about . Well, there are plenty of disaffected people in the United States. And the law of large numbers alone will tell you that. We have 320 Million People here, a lot of them are young. Some are sympathizers. And they can all connect through the internet. I think our concern is heightened by the fact that our intelligence is actually better now. Our intelligence both overseas and domestically. So we hear more about things like cells than we otherwise would. Thats a step in the right direct. We have to get better intelligence even than we have now. Nearly theres something to worry about. I think at the moment we have that surveillance and that sort of stuff under control. But you never have enough. And we never have enough intelligence coming from overseas. Were doing much better with intelligence operations with Foreign Countries in their areas. Who, by the way, are much more at risk than we are. When i mentioned jordan a few minutes ago, jordan is both jordan and lebanon are really, really at risk here. Yeah, were better off at finding these guys now. But so far, you know, anything can happen any time. John, weve got to go, but i just wonder whether or not and no one would try to exploit this situation, obviously. But you know, november is coming up and there are times when a president looks strong and does things that where, you know, you sort of rally the country around and with, you know, were all behind this cause. I just wonder does his Approval Rating start going up if he takes strong, decisive automation here . Thats one of the fascinating questions about this. We had a korchbls tall the other day. They said this is the rare opportunity for someone sex years into his prt today, a moment like this gives the president the opportunity to rally the country and be seen is what differently. He has come to be seen as a passive leader, as a weak leader by Many Americans in Foreign Policy. His Foreign Policy approval is down to 32 . But if he can temper some of the republican criticism, rally some republicans behind him, that might take some of the edge off of ren opposition to him and rally some dmg, strengthen some of his core supporters. You cant change the character of this midterm election. Its going to be a good election for republicans in any case, but it might be a little less bad for him in terms of politics. Republicans arent going be too abusive in his praise for what hes doing. Its hard to say anything about what his plans are. They say theyll be watching his actions to make sure they follow up. Bin laden, that gave hem a chuj boot. Colonel, thank you 37 well see you, john. When he with come back, huge plans for lunch. Then a little bit more pressure on nfl commissioner roger goodell. Another shoe drops in the ray rice video controversy, next on squawk box. When change is in the air you see things in a whole new way. Its in this spirit that ing u. S. Is becoming a new kind of company. One that helps you think differently about whats ahead, and whats possible when you get things organized. Ing u. S. Is now voya. Changing the way you think of retirement. Some developments in the ray rice scandal this morning. The ap is saying a Law Enforcement officials says he sent a copy of the video of rice punching his fiancee to an nfl executive. League officials are insisting they didnt see the violent images this week. Theres a 12second voice mail from an nfl Office Number on april 9th confirming the video arrived. A female voice says and you can hear it, youre right, its terrible. Last night, the nfl appointed former fbi director Robert Mueller to investigate the handling of the rice domestic incident, which is all d we can do at this point. The nfl is taking the right step in bringing him in. I thought about this a lot. You guys probably wont let me finish, but number one, i roger is a friend of mine. I think hes a quality guy. I can he is, too. I dont think hes lying. But the bigger issue, guys come from all walks of life in the nfl. Its like a crosssection of society. Im sure theres guys with substance abuse, alcohol problems. There was a guy that even murdered someone, right . So we know about all this. If there wasnt a video, typically the nfl and roger goodell, you would not want him to act as judge, jury, and excuser whenever anyone is accused. Thats what the courts are for. So suddenly, it almost seems as if the nfl is expected to be policing everything about society and to somehow have an answer for domestic abuse, which cuts across society. Its not now, the first thing he did, the two games, the the woman went into the elevator walking, she came out. You didnt need a video to know that something awful happened. So that twogame suspend was wrong, but hes admitted that that was wrong and that was whatever it was. I love roger goodell. I think hes an honest man. I think hes been a terrific commissioner to the nfl. I dont believe the nfl is truly a crosssection of america in the realer sense. If you look at the criminal record of the players and People Associated with the nfl, and actually correlated that to a crosssection of america, we would have a lot more problems in this country than we actually do. I dont know where you want to go with this. Young people who are in combustible situations and theres a real question about how youre going to work with them so that you dont get into these types of situations and whether theyre doing enough. I think it is a real from this point of view, i remember when i went to university of colorado and the baker hall was where the Football Players were. And they had they were the kings of the campus. They could get away with things. They do get you get a sense of entitlement when youre a star on the campus. And the tolerance for that has changed, right . This is a changing picture in society where we have less and less tolerance for people not being held to the same standards. I didnt see them in the library. They werent quite as serious about courses. The question becomes what is the role of the league . Given that they have a concentrated group of people who a