Equity markets and check out the futures this morning. At this point there are very sharp upward moves. Dow futures are indicated up. S p futures indicated up by 22 and the nasdaq up by 56. Of course september hasnt been so good but with one trading session left, the dow, s p is and nasdaq are all sharply lower on the month. Nasdaq is down by 5. 4 . If you check things out for the quarter to date returns all three major indexes are poised to hit their worst record. You take a look at declines of 9 across the board. Heres the stories you need to be watching this morning. We start with the job market. Forecasters say the economy likely added 200,000 private sector jobs last month. Adp viewed as a key indicator ahead of this fridays big monthly payrolls number. In washington the senate and the house expected to pass a stop gap funding bill that will avert a shutdown for now. In the meantime, Senate Majority leader Mitch Mcconnell says Congressional Republican leaders will begin a talk on a two year budget deal and ralph lauren is stepping down as ceo of ralph lauren. Hell be a big part of the business leading the design team and serving as executive chairman but Stefan Larrson will take over the job. Shares traded at 602 this morning but theyre up 4. 5 . Big question, whats going to happen that. They have always been a luxury brand. Does he try to move them upscale or down scale . They spent an enormous amount of money trying to move more upscale. But the polo business is one that actually you could potentially move down scale but then what does that do on a subsidiary note, this morning, shares of gap which owns old navy cut to sell. Price target cut to 25. The stock is at 30 because larsson is leading. Old navy has been one of the best one of the last things with value. And then theres david lauren who will still stay at the company who i know. People thought he might become the next ceo but the question is what will happen there. Ralph is busy running his restaurant empire. Another stock to watch this morning, Barracuda Networks getting slammed and missing expectations and also comscore getting a boost. Rentrak shares are also jumping. And Diamond Foods with better than expected earnings but revenue falling short. And costco falling too. In Chesapeake Energy cutting about 15 of its work force. Company blaming lower oil and gas prices. In other Corporate News this morning Starboard Value built a 3. 7 stake in advanced auto parts. They met with management and is urging the company to push margins higher. Apple launching apple music. The company also announcing it will roll out on android phones this fall. That stock is up by about 1 . The uaw threatening a strike at a key ford plant that makes the f150 pick up truck. Members could walk out in five days over disbreeagreements abo contract. Tesla delivering its first model x electric suv. Its not cheap. Priced as high as 144,000. It looks awesome. It does look awesome. Elon musk estimates 25,000 customers already preordered the cross over, if you order now, musk says it will take 8 to 12 months to receive the cars. Its got the winged door. But its the price of the house in many areas of the United States. Can you imagine driving that on the road. 8 to 12 month wait to get one. Theres no shortage of demand for these high end cars. Were still two or three years away from the 40,000 sedan which is supposed to take them over the top . Is that the time line . Im still looking for a shchy volt. It never happens. Ferrari set to launch ipo on friday. The offering will be 1 billion in size and could price during the week of october 12th. Lets get a check on the markets. Obviously big gains already. Looks like the dow futures are up by 180 points this morning. Yesterday the s p 500 broke a losing streak with gains of over 2 points. Of course if you look at this the s p 500 is still within about 1 of the low it hit in august. Lets take a look at whats been happening in europe and the early trading there. Youll see at this point theres sharp gains there as well. The cac is the biggest winner up by 2. 5 at this point but the dax in germany and italian market up by 2. 3 and ftse up by 2 . Check out what happened overnight in a yachlt yesterdtr. Hang seng was also up. Take a look at the oil markets. Wti crude down by about 17 cents. And if you take a look at the bond market youll see that at least at this point the ten year is is yielding just above 2 . So those yields continue to be under pressure. 2. 095 . Dollar is up against the euro and the yen. And finally gold prices look like they are down by just about 4 to 1,122. 50 an ounce. It has been a bit of a rough start to what we have seen to stocks. The dow since the start of september down close to 3 . The dow almost 4. 5 and the nasdaq still struggling more than the other indices. Question becomes is the fall going to get rougher for investors or will we get a Fourth Quarter come back . Joining us is the chief Investment Officer of port fofo solutions and chris lets start with you. Its been a rough ride for stocks. A lot of people thinking were in a bear market. Jim cramer has been saying this for awhile. What do you think . Its a correction for sure. First its earnings recession. Not an economic recession. Second is uncertainty from Central Banks and you get downward revisions to sales and earnings numbers and guidance that will be rough for all of 2015 and probably lower for 2016. That recipe is for a lot of market turbulence i think. Its hard to think about what the catalyst is if youre looking at earnings revisions going down. Its hard. Policy got us in here at some ways and policy gets us out. Because they raise rates or they do Something Else to add more stimulus. Fiscal stimulus. Everybody is looking at the bad news building in but you could see announcements in other parts of the world that stop the export of dedeflation. Youre not talking about our federal reserve. Just generally central bank. Theres 32 Central Banks around the world engaged in some kind of monetary or fiscal stimulus right now and were still talking about the possibility of a major global slow down. The problem youre facing is a world of excess supply. We translated into a world of excess supply and it doubled down in 2007 when china tried to disengage from the crisis and were living with that. Its keeping downward pressure on prices. Companies without Pricing Power cant get double digit returns so they have to go back to squeezing costs. To summarize carl icahns video yesterday, ill paraphrase, the medicine is making us sick. If we get more medicine will we get better. The right medicine is fiscal stimulus. Now you have to go to the next step or you wait in overtime, we will lower our return expectations and the world will move forward. Theres two ways of approaching it. Were impatient so we want the physical stimulus to get us there quicker. Ill patient but are you going to be getting any of this physical stimulus . Weve been waiting for this for years and years. Very unlikely. Youre getting a little bit in japan. Abe is trying to move with his new divisions. But at a much slower space than anybody thought. Exactly. 2. 5 years ago we were talking ability the 3rd arrow. But then you other things happening. The u. K. Has done best of anybody and the uk. Economy is actually the shining light which is really interesting for an economy. The lead story in the wall street journal today talks about how our exports are nowhere near what we thought. Were looking at a dip since 2008. Since the financial crisis came about. Part of what you talked about are the idea of other Central Banks doing more to add stimulus. Thats going to hurt our exports further. Potentially. But theyre all part of the economy. Its not a huge driver. The big driver is still the consumer. Hard to put the u. S. Economy in a recession at this level. We just dont have growth thats fast enough that everybody juans so the market was overpricing in and the point made earlier, adjustment as far as expectations. Its going to be bumpy. Theres a lot of things that could derail a view of just good enough. From the resolution value to no announcement from china in october. Upgrade portfolios and focus on cash employee. Do you still like u. S. Stocks though . Yeah. The places are the Cash Flow Companies and high credit rating. Theres too much debt. Japan looks interesting. Profit margins are coming up. The restructural Reform Program is taking a long time but a lot more positive. Is there an upside to this imported deflation that were getting . The upside is that consumers get the benefit of lower prices. The down side sits pressure on corporate profitability which is pressure on corporate earnings and then pressure on the cost stru structure. If you have more Central Bank Stimulus youre going to have a stronger dollar. If you have actual fiscal stimulus coming that will give you the opposite in terms of the currency. If europe goes with fiscal policy programs, asia does it, well get their currencies doing better. On the same token if we then do fiscal policy on our side what would it look like . If you were going to fiscal poll i changes here in america what would it look loike . Change Capital Gains tax laws. Anything after five years is tax free. Tax free. Everything in america is three month quarterly returns. We have to break that problem. Double digit three quarter quarterly returns in a world of excess supply is not healthy. Thank you for coming in today. Coming up, the race to keep the government open for business, plus those that dont learn from history are doomed of course to repeat it. Neal ferguson is here. Hell share some lessons with todays politicians and business leaders. Thats next. But first heres a look back at this date in history. When youre not confident your companys data is secure, the possibility of a breach can quickly become the only thing you think about. Thats where at t can help. At at t we monitor our Network Traffic so we can see things others cant. Mitigating risks across your business. Leaving you free to focus on what matters most. Midnight tonight is the deadline for congress to fund the government and a shutdown will hopefully be averted. Lawmakers are gearing up for round 2. Nbcs tracie potts reports from washington. Everyone is relieved that were keeping the government open. A last Minute Senate vote later this morning, another this afternoon in the house just hours before the deadline and lawmakers expect to barely avoid a Government Shutdown. Its not the way to do business. It doesnt have to be that way. Todays votes add 13 billion for defense, 700 million to fight fires and extend Everything Else through december 11th. Its a holiday gift for america. The prospect of shutting down the government again. They want a longterm deal through 2017. So that next year we can have a regular appropriations process. But conservatives are still fighting to strip money from planned parenthood. The groups president endured a five hour grilling tuesday. Do you defend the sell of baby body parts. No. And in the middle of all of this, leadership is changing. Im not going to be any different tomorrow than i am today. Republicans are trying to figure out how much they can negotiate before john boehner leaves next month. We will have more coming up in the next hour. Well also talk to david walker coming up at 7 30 eastern time. President obama sitting down with a hand full of World Leaders including the chinese president xi jinping and Vladimir Putin and castro but the president has now come under fire for his latest Foreign Policy dealings. Neal ferguson is here to add his voice to the conversation. Hes a noted biographer and process or of history and also author of kissinger. Its the first of two volumes. This is going to be a decade long project for you. Yeah, i spent ten years putting this together and every morning i wake up and think it will be even harder. So when you go back let me just ask you about the book for one second which is what made you decide to devote a decade of your life to kissinger . What did you think would be constructive to us . Theres nobody that contributed more to the theory and practice of american Foreign Policy. He remains the great strategist and its extraordinary that nearly every president since kennedy great and controversial. There are those that said hes accused of war crimes. Thats another reason for writing the book. Hes the most controversial figure in terms of Foreign Policy so i thought it was worth writing a scholarly serious book that looks into this mans life and the first half of his life is extraordinary. Its a tale of a refugee that flees to the United States and ends up being appointed National Security advisor in 1968. Its an amazing american story. If you were to apply his thinking to now and specifically, for example, to our relationship with china, xi jinping, he helped us to create a relationship with china in the first place. A great conversation might have been between president obama and Henry Kissinger about this subject since he spent three days in meeting with xi jinping this year. And has more insight than any other american. Thats not happening. As far as i know thats not happened. This one really doesnt and thats maybe why the strategy that we see today is less than i impressive. Do the imaginary conversation for us. I would say tell me what is it that xi jinping is trying to get out of this visit and the answer might go Something Like this you have to understand that xi jinping is in the midst of massive internal reforms but hes also trying to project a more assertive china. Were no longer in the age of quite rise. China wants to be a player and be treated if not as a super power then a Regional Power and you need to try to understand him as somebody who is simultaneously fighting pretty different domestic battles against opponents of reform and trying to play a new role in the international system. While youre here, can we ask you about whats been happening with economic proposals that republicans candidates put forth at this point. We see a lot of competing ones out there. Youre an expert that looked through some of this stuff in the past. What do you think about the ideas that donald trump put forth . Were starting to compare and contrast the items. I dont take Donald Trumps proposals on anything very seriously and i do think this belongs in the entertainment section of the show. Jeb bush is beginning to sound more convincing. I liked his oped on the need for deregulation. This is a country thats in a fiscal no mans land. We still dont have a credible plan to address the entitlements programs but lets not forget the Foreign Policy issues. The president is not really there to do fiscal policy. If theres one thing he can do its grand strategy and its arguable that we havent had a coherent strategy since president obama entered the white house. There was a period when the strategy was just not to be george w. Bush and now were into more dangerous territory when i think the president is trying somehow to make friends with americas enemies, iran, cuba, maybe now even russia. Its extraordinary to find him asking the iranians and the russians to help him sort out syria and alienating traditional allies. He havent asked russia for help. That was russia moving maybe you didnt hear the president s speech at the un. He began by criticizing russia and iran and china and said by the way can we Work Together on the problem with syria. Donald trump the entertainer in your mind on 60 minutes said on isis, well let putin deal with it and well just come in right behind. If only life were that easy. We have a massively complex problem in syria. The company is breaking up. We hesitated about whether we wanted assad to stay or go. We decided he should go and then we did nothing to achieve it. We have done nothing to help before or since. Sometimes doing nothing can be as consequential as doing something. More people lost their lives as a result of no intervention. But kissinger would have argued we shouldnt intervene in a major way. His was helping the allies not become the worlds policemen. How would he handle the syrian situation . If one goes back to the arab spring, it was a mistake to let any of these states fall into revolution, particularly egypt and we entered a period of great uncertainty in the middle east. How many states were going to fall to revolution. I think that question is still open. How would we stand to be able to do that . I dont think it was up to the United States to decide how things turned out in egypt but in the syrian case we said we would quite likes assad to go ad were not going to do anything about it and we watched the secular opposition get wiped out and that place taken by Islamic State and i think from that perspective it was the worst of all worlds. We wished for a resolution and it didnt happen. We look at a world map and we think these are nations but for most of human humanity they were not nations. They were the persian empire, how do you see it playing out . Because when i talk to my 11yearold daughter about whats going on in the middle east shes asking when will it be fixed . Iraq was created out of provinces and most of what we see is a legacy of the First World War and how they reassembled the region. Whats interesting now is the borders created at that time are being defaced and the most striking way in which this is happening is iraq and syria are disse discentigrating. Should they have ever been create