Take a look at the u. S. Equity futures at this hour, youll see green arrows. S p look like they would open up 2. 5. Nasdaq just over 13. Overnight in asia the knnikkei s up. 25 . The hang sang up just about as much. If you take a look at the early trading in europe, at this point, the dax is higher. The cac is france is up. 80 . The ftse is down. 10 pkts. Strong over there. The scuttlebutt yesterday looking at it. I wasnt here in the morning. Adp was strong so the market was weak. There we go again. It was that, but also the idea with some of the chatter in the morning that, look, we already knew this number was going to be around this. A lot of it already baked in. Do you believe the fed will raise rates if its a strong number on friday. No. I need to see it. Who knows. Maybe they want i think they want to. Theyve cried wolf so many times. It wouldnt kill them to do a quarter point to reestablish credibility. Once a year you get quarter point. Usually its once every ten years. We got one quarter point in ten years. Then in the next decade they will need a quarter point within the next decade. The fed futures are 34 . There had been some people, did you here muhammad the other night on cnbc was saying 6080 theyre going to do it in september. I wish they would. Before the election . I think thats part of it too. Not only are they itching to do this for the credibility factor. Its also were going to prove that we are not being sidelined because of politics or that equity pay any attention to that too. Theyve been pretty accommodative for most of the tenure. If its really a good jobs number, thats going to be good. Obviously the gdp is going to be sharply revised upward on october 31, i would think. Thats when i would thats when you would do it. Hold it back. We think its 1 now. Be like 4. 5 and then well have no, well see. Stocks to watch today. Salesforce reporting rise in revenue. Thanks to strong sells of cloud product. Sees soft nks primarily in the u. S. Salesforce ceo addressing the outlook with jim cramer on mad money last night. You saw the mna activity we have done this quarter. That of course has weighted on the numbers and we are delivering great quarterly numbers. Number two, we did have the Foreign Exchange situation that we just talked about and number three we did see a bit of softness in the United States at the very end of the second quarter. These three things together really are kind of what is giving us, i would say, an appropriate conservative view for the third and fourth quarter. Meanwhile, some consumers are reporting the batteries on the new Samsung Galaxy note seven caught fire while the device was charging. Announced it would delay shipments for Quality Control testing. Shares falling on that news sharply hitti inting twoweek l definitely put a crutch in your plans. Quality control, make sure it doesnt catch on fire. Wiping nearly 7 billion from samsung. Box reporting another quarterly loss on higher spending. The loss was smaller than analyst expected and revenue rose 32 . This is a file sharing company. Also raising fullyear earnings in revenue outlook. United states corporations hold 2 trillion in cash overseas. Looks like some money may be coming home. In an interview with irish broadcaster, apple ceo says the tech giant expects to repatriate billions of dollars to the United States next year. Didnt say how much would be returned, but apple has about 180 billion parked offshore. That is more than any other company from the United States. Cook also weighing in on apples fight with european regulators over taxes. Ruled ireland has to recover 14 billion in unpaid taxes from apple. In an interview, cook rejected the eu assertion that apples irish tax bill for the year of 2014 amounted to just a small fraction of 1 . He said apple paid 400 million which he believes made apple isla islands highest taxpayer for the year. Cook who is a mellow guy, told the paper, no one did anything wrong. Ireland is being picked on. Its unacceptable and total political crap. Again, hes a pretty mild mannered guy most of the time. Dont hear tough talk from him like that. Obviously this has him fired up. He was fired up about the whole hacking case. Yes. How about air and go, they leave were looking for irish exit. Fits in with it. Now we also now somebody because remania. They are leave if they want. Go mania. Weekly jobless claims out at 8 30 a. M. Eastern. Along with labor cost and at 10 00, look for the august Services Index and july construction spending. The big auto makers releasing sales throughout the morning. Cleveland fed president Voting Member on the fomc is speaking this afternoon. Lets get to the campaign trail. Gop president ial candidate donald trump giving a big speech on immigration just hours after meeting with mexicos president yesterday. John harwood joins us from washington. Reporter good morning. It was an unusual day on the campaign trail. At the same time holding the Political Base that got the republican nomination. Also adding to it. With the latter goal in mind, he went to mexico, stood on a stage with president meania knee yeah toe. He said before reporters that they did not discuss the payment for that border wall that he has been promising. After the speech, president pena nieto told donald trump he was not going pay for a wall. Hours later in phoenix giving the speech and heres what he had to say about that issue. Mexico will pay for the wall. Believe me. They dont know it yet, but theyre going to pay for the wall. Reporter he reiterated hes going to create a Deportation Task force to remove the 11 million illegals in the country. Although he did not indicate what priority or how quickly he would do that. Heres how he expressed that goal. Were going to trip it will number of ice deportation offices. Within ice, i am going to create a new special Deportation Task force focused on identifying and quickly removing the most dangerous criminal Illegal Immigrants in america. Now, donald trump went on in that speech to talk about rapists and about child molesters and other potential predators who are coming into the United States. The more you amp up that side of the rhetoric, the more you die lu dilute the effect of appearing calmer and reaching out to swing voters. Take some encouragement from recent polls, the lead Hillary Clinton had has been reduced to ten points to six points. Six points is still a big gap. Got a lot of work to do. The challenge is if youre going to try to convey a different message and a different image of yourself, you have to do it in a sustained way. If you oenl do it for a fleeting moment and go back to your own persona, difficult to make it stick. I think that misses a lot of the significance of watching yesterday. I thought it was extraordinary listening to the mexican president agree on so many issues, agree its a twoway border and we dont like guns coming in here. We have a southern border where a lot of people are crossing our border that arent allowed to come in. From mexico. From down south. And i thought the cordiality was pretty phenomenal and also just having sounds like it worked with you. Well, i know he was trying to appear statesman like. I know that. Its a big jump for him, obviously, but just after watching it and to go down there and accept to gikly and go into some people not the lions den, but hes not popular down there. Pena nieto had compared him to hitler and mussolini. And watching it was kind of funny. I dont need to say Mainstream Media because you could start with poe december ta or the democratic sur gattis and its immediately picked up by the media. Grasping for some way to trash it. The initial way to trash it was the state department, which has been like a gauntlet for Hillary Clinton. State Department Said what are you doing going down there. Its ridiculous. Any private citizen can go down there. Grasping for something. Until they had him in an huhuh, he lied because they did bring it up. The president spokesman later said mr. Trump didnt lie. When they brought it up, there was no discussion. Thats what at first, they didnt know where to tread. That happens in politics. Extraordinary to go in there and the press conference, he had trump had command of that press conference. It almost looked as if the president of mexico sort of not deferring to him, but there was no bowing anyway from trump. Going to be interesting to see the effect of that press conference on pena nieto who is not popular in mexico. Immediate criticism after yards. He got criticism before. It was a weak performance on pena nieto. His Approval Ratings were 23 heading into this. Thats your adjective, prominent. Theres a lot of hes. He is. Hes got a little bit of he has said theres no need to be objective when you have someone like trump. Fine. My point is that he went after him and i think other members of the Mexican Press did too. There were people. A lot of people went after him. Pena nieto popularity would drop from 23 which is the lowest level for mexican president. Almost looked when they put out the statement when he wouldnt pay for the wall, they were scrambling to repair some of the damage from the meeting. He didnt say it right in front of him. Exactly. Thats what was strange. If you want to make that point, you got a whole bunch of Worldwide Television cameras right in front of you. The meeting was probably someone says something and translated and press conference and translated and its not a perfect way of getting not necessarily. Pena nieto can speak english. He doesnt in front of the media. Fox, we saw that as well. It was pretty extraordinary day. They didnt expect trump though take him up on it. Not in three days, anyway. It was pretty its a chess match, i guess. He invited both candidates. Trump immediately accepts and the guy was saying we havent heard from candidate clinton at this point. He was definitely bold move by the trump campaign, no question. Hey, john, thank you very mu much. Good to see you. You bet. Lets get more reaction to trumps immigration speech and visit to mexico. How playing out here. Former senator, judd greg. Good to see you. Thank you. What was you take away on this, both on the visit to mexico and the speech on immigration afterwards. I think win ston churchill said that consistency is the hot goblin of small minds. Donald trump proved that yesterday. When he was in mexico, i thought it was an extraordinary performance, presentation. The fact he went was rolling the dice so to say politically. He handled it extremely well. Then he came back here and went back to reality tv mode on what he was going to do on immigration, throwing out a lot of very highly volatile lines and creating a lot of disturbance in the sense he basically charged up the troop so to say. So the two exercises were very different and reflective of a little bit of erratic approach to how you run for president , i think. You know, it reminded me of older politics where you know your audience and you are speaking to your audience. Its harder to do today and at least for 1015 years with media everywhere, social Media Building up. He has been trying to thread the needle. To say, look, we are going to take immigration more seriously. And heres how we do it. What to you would you like to hear in terms of after immigration policy. I dont agree with his policy. I havent for a long time. We all agree on three basic things, which is you got to secure the border, you got to make sure employers hire legal individuals, not illegal individuals. Youve got create some sort of opportunity for people we want to come to this country to come easily through visa programs. The idea you can take the 11 Million People who are here illegally and probably more than that and tell them to leave. And hope they come back legally is hard to say. He stopped a little bit ahead of that idea that 11 million are going to be deported, but he also didnt say theres any way for amnesty. Do you believe in an amnesty clause . No. There should be no path way to citizenship to people here illegally period. What do you do with 11 Million People then . I think hes got the formation of what you should do, which is basically if they have commit add crime or criminal or act instead a way which is inconsistent with our laws, they should be deported. Theyve been here and been constructive citizens for a period of time, you put them through a program where they have to pay some sort of penalty, some sort of i dont know, civil responsibility where they can build a resume of being constructive participates and then you give them some sort of legal status. You dont consider it. I dont consider that amnesty. Amnesty is citizenship. Its the mccain approach. When he looked like he was not going to do, you know, the drak cone yan, we heard from the left that he was well, i even heard jeb bush say thats my plan he has now. Thats a rubio plan. They wanted it to go from how many in the first gang, gang of eight. They wanted to mange it the gang of nine. Throw trump in there. He was completely his entire Campaign Promise to all of his supporters, he was backing off that, not going to do it. Then when he comes back and changes a little. Too much. How do you win one way or the other when youre going to get, you know, criticism. You can sort of see when he was done there, theres room for negotiation on a lot of these things it seems like. Dont you think . At least where were headed with Hillary Clintons view of how to do this and what trumps view of how to do this, there are two stark differences there. Not necessarily either one is going to the worstcase scenario of what critics say is going finally happen, but there is a choice people can make between which way. You know, i think we should have her on. You always tell me she roots me on right and says what are you doing . Did you talk though her about this. Why do you come on here as a wish shi wash shi when you could be . Talk to her. Will you. Get a pep talk. Shes hard line on a lot of things, but appreciates the fact in this country weve got to have immigrants. We need immigrants in the country. No one is saying that. Even the mexican president says we dont necessarily want our southern borders totally por rasmus. We dont want your guns coming down here. They have a wall on their southern border, dont they . Yes, they do. I actually think that what trump is saying if he said it in language which was less inflammatory would be pretty close to where most people are on immigration issue, which is essentially get the people out of the country who are here illegally and committing crimes and figure out how to deal with the other folks in a responsible way. Thats essentially whats hes saying. I dont think thats unusual or inappropriate. The way he says it is to inflame a lot of folks on the immigration issue. I dont think thats constructive to the dialogue then you dont get comprehensive thought. Does mrs. Greg do tv . Well get her. If we want a real republican on, can we ask for her. Absolutely. She would make more sense than either you or i. Judd, i love seeing you. Thank you for joining us. Coming up one day away from the august job report and 20 from the fed Interest Rate. Talk strategy right after the break. Draconian. Its september. Possibly of a september rate hike and its september first. Its here. Joining us, we all got to get better at probability. We got to look at exactly he goes to the decimal point on the president ial odd. I want to to two decimal points. The likelihood. Fed funds future says 35 odd and december is 60 . Just an interesting commentary to observe how tactical the fed has become because basically tomorrows report will decide whether the september odds flip above 50. If they dont, september is off the table. Its tactical. I think its infuriating. All they do is job own. The most recent conjecture they whether or not going to do anything so they felt the need they need to move the needle back the other way. Drives me nuts. More potential because of exactly that. Because of all the doubters. We dont believe you anymore. They dont even have the fortitude to do things with Interest Rate movements. Were going to try this and go up a quarter. Theyre even afraid to make a quarter point move so theyre influencing things with job owning. Thats the way they do things now. The current mo is they test the waters when they want to go. They ultimately need the markets permission basically because the unspoken third mandate is financial conditions. If they say theyre going to go and the market is not ready, dollar goes up. Wait a second, paul didnt need the market approval on this. Used the briefcase indicator. Didnt know what he was going to do and there would be surprises. Its a different story. Were in a global economy. The fed is the dploebl central bank. Wants to tighten the rest of the world is in easing mode. The job owning worked when we were on the way down. A tool they put into place and its hard to get rid of that tool. Job own, last summer caused the devaluation in chinese. The markimproved and ready to d four hikes this year. Theyll be lucky to get one. Heres the problem when youre the only country in the world raising interest rating the currency becomes the great equalizer. They look at the data. They look at the jobs and inflation and say we should be able to raise Interest Rates. The problem is when you go do do it, the dollar rallies. The money gets sucked out of emerging markets. High yield falls under pressure. Financial institutions fall under pressure. And yield curve flattens. Its a third man data. They cant even handle two mandates. No one said anything about the dollar. Suddenly theyre four x geniuses and know the level for the dollar. Why do they need a third mandate . They have inflammation, employment. Now they have to do currency. When you talk about paul voeker, youre raising interest rating to combat inflation. We know how combat inflation. What if right now the four x market is discloekted. How do they know this is the ideal away it is right now. How do they know we should not be higher and what happens happens. What happened in the beginning of the year is reason you cant do in. Four x leads to so many other problems. The problem the headwind that you had in u. S.