Jm morgan victim to one of the largest Cyber Security hacks ever. 76 million households and 7 million businesses affected. New clashes in hong kong as protests take a violent turn. Counterprotests storming the heart of the sitin. Bob iger till the middle of 2016. Disney extends his contract. September nonfarm payrolls jumping 248,000, above forecast of 215,000. Private sector added 236,000 jobs. August payrolls revised upward. Unemployment rate down 0. 2 to that sixyear low of 5. 9 . Labor force Participation Rate did fall slightly. Earnings were a goose egg. If youre looking to quibble here, might be service is made up of almost everything. Hard to find highpaying manufacturing jobs. I think this number did one thing which said those who think that the economy peaked over the summer in employment are wrong. I think that is really important. That had become a consensus of late given the fact that the last employment number was so bad, and given the fact we hear about peak oil. Youve got to take the real negative scenario off the table. This number is too strong for me to believe that hiring peaked in this country. Thats been the theme behind a lot of the declines in industrials that have largely been based in this country. Doesnt impact the negative case about industrials based here that are really global. You have said, watch crude prices and Oil Companies that may not be hiring as aggressively if it falls below 90, which its back above today. There are 13 states directly impacted with the price of oil and gas. You can relate one for one their employment, percent employment. If you see oil crack 80, you are going to see a very big slowdown in hiring as projects have to be pulled back. They have to be. Theres a lot of budgets that include oil going to 100, 110. This is a saudi issue. The saudis decided to cut price. They are not trying to people say they are trying to take share. They are trying to wipe out our industry. They did it before. They are doing it again. Theyre our pricing umbrella. If they want oil to go down to 80, they can shut down our industry. You say, wow, why would they do that . Look at what they did in the 80s. Look at other times when oil went up a lot and we started drilling a lot. Oftentimes oil went down, they cut production. Right. In this case theyre not. Why arent they . They arent. They arent cutting production because they know its 70, 80. The big projects come in question. The peripheral product, colorado, montana, new mexico, those become in question. Some of the californias come in question. They want to do that . They want to force us not to develop more oil as we go on our way to becoming the Largest Oil Producer in the world. Potentially at some point and exporter. Im embarrassed the coverage doesnt say that because thats the truth. Jobs number. Average hourly earnings. 2 year over year. Unchanged this month. You see wages go higher, the part of the market that is domestic would be other than this new ebola factor would be hard to contain. We would be going up so much. You would start seeing the great bifercation of oil waiting. The rest of the world has to send money here, not in our bonds, but stocks. We are 224,000 jobs now for threemonth average. 220,000 for the year. That is above last years 193,000. We are at 5. The first time Unemployment Rate falling below 6 six years. Janet yellen, the fed. Come on, man. This has got to be it, doesnt it . Isnt somebody ringing bell . There is no wage growth. Theyve already given you a plan. They are stepping back. It wont matter. There is a little bit of wage growth, isnt there . 2 is keeping pace with a 1. 7 cpi. Most people are playing for dinner in this country. We have good jobs and paychecks. Theyve been focused on the Unemployment Rate. Qes over. Then bernanke cant get the mortgage. People are going to say that is anecdotal. Frankly, the fico scores, you have to have plus 700 to get it. There are reasons we havent turned on the jets in this country. I think the idea that the fed has to do anything other than what its been doing. Larry kudlow, with be a unbelievable analysis how janet yellen talks dovish but will be more hawkish. That was interesting. There are things larry kudlow knows better than anyone else. I worked with larry for many years. When he speaks about the fed, it is not idle or anecdotal. We both noted it. Its brilliant analysis. If it ends up being true, well find out soon, right . I never bet against larry kudlow when it comes to fed. Anything he says about the fed. He knows too much. Now that the jobs number is out, did you nail the number . This week we asked you to tweet us your predictions for september payrolls. The lucky winner will receive this shark tank tshirt autographed by the squawk on the street team. Well announce the winner later in our show. Later, well get white house reaction to the jobs number from Jason Fuhrman, chairman of the president s council of Economic Advisors. Jpmorgan chase exposing a data breach compromised customer information pertaining to 76 million households and 7 million Small Businesses. The bank says there is no evidence account information for affected customers was compromised during the cyber attack. Adding it hasnt seen unusual customer fraud related to the incident. As seems so often the case with these breaches, we only learn the facts later. They almost always tend to be much more than we were led to believe initially. In the case of jpmorgan, differentiating it from home depot. This is an incredibly Large Financial Institution holding my money and your money. I dont know about yours, carl. Different bank. I feel for you guys. Does anybody think about taking their money out of this bank as a result of this . I told you i have someone look at every single activity. People are agreeing. Your focus on reconciliation in your accounts is important. It wasnt something i dreamed up. Its from mark maclaughlin, ceo of palo alto networks, a stock ive been behind. Told me, how often do you check your account . I get my statement. He said, how many times a week . Well, now i pay someone to check. I dont have the time to check every single piece of activity. I have someone who does. It didnt matter what bank. One of the things he is talking about, he said they have the most sophisticated, there isnt anyone i know who disagrees they have the most sophisticated stock. They have 500 million revenues. Think about that. How much little is spent by banks . And how much more is going to have to be spent . Are there any bank one systems being used . I think there may be, yes. We talked a great deal about Technology Platforms and the change over time. I dont know is the answer. Do you know the answer . I just know that everything i understand about the underspend throughout the country is amazing to me. In this case, of course, no money has yet, no accounts have been compromised, according to jpmorgan, nor Social Security numbers, at least that is what they are telling us. Passwords and Social Security numbers, they may have gotten phones, addresses, emails. Raised questions why they cant do more damage. Unless they want to come back. They were able to go through a lot of the Different Networks and servers and underpinnings of technology to a certain extent. It doesnt mean they havent learned a great deal for the next attack. Right. Mark maclaughlin said something interesting. I said how much is there . He said you only hear about the ones that arent very good. You never hear about the highly sophisticated attacks. Why . They are the ones going on right now. You only hear about the guys who dont know how to do it well. There is a lot of cyber theft going on every day under the radar, and it is a very big business. He is saying that the banks arent necessarily as quick to recognize it. They have to spend a lot more money. Right. This is a board level issue. It has been for quite some time. If im one the boards, how much are we spending and how much more to make sure our Customer Base is confident . Palo alto says its total board level. Theyve got technology where theyve been able to find the threat from 28 minutes down to 15 minutes. We have 500 million in revenues. It should be 500 million in revenues from every major bank. Im saying how underinvested people are in this, is my take away. He is saying you only hear about the hacks that are stupid. The hacks that are smart, obviously, we havent caught them. Halfway around the world, hong kong protest leaders calling on their government to immediately appropriate organized attacks against prodemocracy demonstrators who have been clashing with beijing supporters. Susan li is in hong kong with the latest after a rough few days. Thats right. Has been a rough week. Let me show you the latest on this friday. It looks like the city has gone back to business with negotiations set to take place with the government and protesters. What is important heading into this weekend into a new week is whether or not the protesters hold this stretch of road which is the main artery that heads to the Central Business districts. The barricades are still up. Protesters still hold the streets. There have been squirmishes between the probeijing camp and prohong kong camp. Not just taking place here but in the other protest sites in hong kong. The protest leader is calling for a convergence to this main protest site. He says lets make this the main battleground. As for the city of hong kong itself, it did get back to business today. We had Bank Branches reopening after being shut down after the violence early on monday morning. Then we also have the stock market opening, as well. After an initial blip downward, we had a selloff. The markets did maintain some gains. We did have a slap on the wrist from beijing. They stopped issuing these travel permits for chinese mainland tour groups ahead to hong kong. We saw that impact casino shares and retailers, as well. Back to you in new york. Thank you very much, susan li in hong kong. The robert iger era in disney is far from over. Chairman and ceo signing a contract extension again. Well explore what that means for the company and its shareholders. White house Economic AdvisorJason Fuhrman on the stronger than expected jobs numbers in september. 248,000 and jobless rate at 5. 9 . Charlie, the demand on this network, it is increasing by the second. Its crazy, huh . And people are relying on it more than ever. We cover more than 99 of all americans. I know, i cant imagine living without it. Its a place where people can come share knowledge and ideas. Its beautiful. Thats deep charlie. My selfie just hit a hundred likes. gasps a hundred at t is building you a better network. Sometimes, healthys not on the menu. Luckily, always keep my Meta Health Bars handy. My favorite bar, hands down. From the makers of metamucil, new multi health Meta Health Bars have natural psyllium fiber that helps promote heart health, with a taste that consumers prefer. Would you like one of these instead . Yummy thanks experience the meta effect, with our new multi Health Wellness line. And see how one small change can lead to good things. The jobs number leading to gains in the premarket. Yesterday the biggest reversal in the russell in eight months after dipping into correction territory. S p is about 3. 6 below its alltime high. It did invert by the narrowest of margins that fourday losing streak. We still have not had one this year. Disney announcing it extended the contract of chairman and ceo bob iger by two years through june 2018, calling him the architect of the companys current success. The 63yearold iger was expected to retire in 2016. Shares have more than tripled during his tenure as ceo which began in 2005. 300 plus versus 92 for the s p. Hes been stellar. There is no other way around it. Not that anybody doubts it, i think. If im that board of directors, i want him to stay as long as he wants to stay. I obviously want to be focused on succession. The cfo, tom stags, who if either one with another three years almost to go . Excuse me, 3 1 2 years to go. Maybe i start looking within the organization at younger folks. Maybe those guys think its not going to be my job. The key for investors is iger is staying. A couple of guys yesterday were buying the stock based on that. I was going to say its a reason to buy. Im so glad you pointed that out. This has been my strongest recommendation since the start of the show. This is the stock you buy for your kids. Buy disney for your kids. Soon as your kid is born, buy disney. A lot based on the fact iger reinvented this company in a way it does have we talk about this 100year view some people have . Bob iger has created a multiple franchise, not unlike procter and gamble, where you have many billion dollar franchises. The parks. He made it so they are the most efficient, fabulous places to go. He has thought about and spent a lot of money doing it. Yes. He thought far in advance having people take many different jobs. I remember it wasnt that long ago somebody was saying is he overpaid . Remember, all the skepticism over pixar and marvell and lucas films. Just ridiculous. He is the most bankable ceo in america today. He is 63. He looks 50. That bothers me. There is no mandatory retirement age for ceos at disney. Is it unthinkable he goes beyond 18 . I hope they have the foresight to recognize the guy is going to look 55 in 201. He probably wouldnt do that. He probably feels, ive got to give someone else a chance. Hes that kind of guy. Speaking of which, he is expected to name a coo in 2015, which according to some would lend visibility to this succession plan. I would hope he would come back to new york and run for mayor. Apparently thats not going to happen. He is the most admired guy people talk about. I do want to get to news that came out on medtronic. With the change in rules related to inversions we got from treasury, if you recall, last week . Some questions there. They announced they intend to use approximately 16 billion in external financing to complete the acquisition of covidien. All terms and conditions reached between the two companies in june remain unchanged. There had been a concern, if you remember, the merger agroemt itself had some provisions based on changes and legislation related to inversions that led some to believable you could see this deal, a, recut or, b, canceled as a result of the change in the inversion rules from treasury. That was not legislative in nature. That is not going to be the case. Medtronic intends to utilize new financing expected to be in place by the closing of transaction. They say upon completion, each outstanding ordinary share of covidien converts to 19 in cash. Originally they were going to use the cash overseas. Now they will finance it separately because that was impacted by the change at treasury in terms of their ability to access that cash. Again, they are talking about it being strategically motivated, hence, nothing changes. That is a sigh of relief youre seeing. The spread closing in the deal. Now they say theyll finance the 16 billion elsewhere. Abbey shire . They did not have any provision in the merger agreement. To change it under uk takeover laws, many believe that will remain asis, without any change in financing. Salix . Salix as i reported yesterday is done with cosmo. They are citing inversion. The question is what salix chooses to do. Talks with allergan cooled. I reported first on activist having some interest. Well see how that progresses. Excellent reporting. Thank you. When we come back, cramers mad dash as we count down to the opening bell. Well look at the premarket. All the things we havent talked about yet. The dollar on another tear. Gold has gone negative for the year. And that jobs number at 248,000. You are going for usa today. I want to talk first. You have to take a deep breath before you talk about this topic ebola. It is so easy to scare people and that is not what i want to do. Thats why i refer to someone else. Ebola upsets exxon Drilling Plan is the usa today story. This is not about nigeria. What im pointing out here is oil today is down again. It did bounce off 89. Its coming down again. This is amazing. Why . There are 3 Million Barrels a day that come out of nigeria. Nigeria is not that far from this area. If you can imagine a situation where 3 million were to come offline because of ebola, you would think something would move the price of oil up. What is incredible is there must be so many hedge funds who are long oil. Im not kidding. It seems to be this liquidation trade every day because the news is so incredibly bad about supply, the rest of the world, not our country. Saudi production was trimmed by 300,000 barrels. Im saying if you took nigeria offline, the worst case that is not going to happen. No. Im saying you would think someone would be more worried about getting oil. In other words, oil is kind of still in a bit of a freefall. The number of areas, russia, biggest, exxon not drilling there. We know the middle east total turmoil. West africa, another big producer. All the areas we are used to seeing a lot of oil coming from, venezuela, they are all in jeopardy. Oil should be at 110. But the world is slowing away from the United States. I think hedge funds own it. Oil is down. Gold below 1,200 the first time in some time. That dollar very strong. How about the stock market . Well find out. Its a fresh approach on education superintendent of public instruction Tom Torlaksons blueprint for great schools. Torlaksons blueprint outlines how investing in our schools will reduce class sizes, bring back music and art, and provide a wellrounded education. And torlaksons plan calls for more parental involvement. Spending decisions about our education dollars should be made by parents and teachers, not by politicians. Tell Tom Torlakson to keep fighting for a plan that invests in our public schools. Fighting for a plan that an Unprecedented Program arting busithat partners businesses with universities across the state. For better access to talent, cutting edge research, and state of the art facilities. And you pay no taxes for ten years. From biotech in brooklyn, to next gen energy in binghamton, to manufacturing in bu