Markets poised to open higher. Comments getting a lot of attention. Jack lew telling Steve Liesman, we will hold china accountable. Twitters Board Meeting is today in new york. We will get answers on the permanent ceo role. Details of nut tesla x and the lower costs on the model three that will not start production until 2017. Draghi holding a news conference. He says asset purchases going smoothly. Adding the plans to fully implement them. They see a slower increase in inflation lowering their growth request through 2015. 1. 4, 1. 7, 1. 8. Now, they are talking about, can we change the size or duration of their plan . They are crushing europe. The dollar is soaring. This is a level that american exporters obviously are saying, are you kidding me. They have to get the euro down to be able to maintain growth. This is really great for germany. They dont talk about maybe they are talking about the immigration situation. Obviously, germany is going to be able to build all the housing that it says it is going to. That could be expansive for the german budget. At the same time, it is going to this euro this week is not what you want if you are a major seller of goods into europe. If you are a u. S. Equity buyer who wants a weaker dollar it hurts you. I was doing a lot of work on general motors. Maybe the 5 yield wasnt as good. This is the opposite of what you want. If the chinese devalue again, which i think they may after they come back, they are still not where they have to be. The dollar will go back into the super strong mode that is going to make it so next quarter is going to require more estimates. Your view the dollar may have peaked for the year. The pmis are great. Not great, 54. I thought draghi might say, stay the course. Last time they made the forecast, oil was higher. He is a good man for europe. In terms of what we need in this country, the idea our futures go up is once again the pajama game. The guys in the pajamas look at algorithm saying europe is up. This game is played endlessly. It is wrong. Those people are not making a lot of money. A lot of hedge funds around doing well because they are playing the pajama game. Draghis birthday today. The pmi is up from the preliminary number. Germany, 55. France coming in a little bit. Retail sales were a little bit better. You want to be in the european bristolmyers. I like Procter Gamble, because it yields so much. This is good news for unilever. They will not stop until they take as many sales from our companies. You do not believe it is a malt ter of traders here trying to live vicariously through more accommodation in europe . No i think it is traders who are wrong. They can really be wrong today because they dont have china to be wrong over. They are not wrong in two but noenl one. When i say they are wrong, look at the results. It is not like someone has this huge bet and it is working. You dont hear about that. What i do find amazing is that you got up in the morning and didnt see the Chinese Government have to prop up stocks. Thats what they do. This military holiday, this memorial holiday is taking china off the front page for a couple of seconds, and, boy, is that positive . We will keep our eye on that. Ahead of this weekends g20 meeting, the imf urging the World Central Bank not to urge rates. They say they are all posing risk to the economy. Treasury secretary lieu speaking out about chinas currency policies. This is what he told Steve Liesman in an exclusive interview. There is an economic and political reality to things Like Exchange rates. They need to understand that they signal their intentions by the actions they take and the way they announce them. They have to be very clear that they are continuing to move in a positive direction and we are going to hold them accountable. How are we going to do that . Beats the heck out of me. We hold them accountable, what, for all the pollution they send us. Hold them account for all the cybersecurity. Hold them accountable for the fact that they dont really care about anybody else other than keeping their growth going. Hold them accountable for cutting soldiers but moving up more into hardware in the navy i dont know how we hold china accountable. Ive never seen us hold china sl accountable. We lost china in the 40s and 50s. Other than nixon opening china, there hasnt been a lot of good news out of china for the United States. You might see futures come off of the highs. Draghi saying that they did not discuss detail of qe modification. We want to see europe stronger but not because of the euro getting weaker. We want to see it stronger because internally, they are starting to do some expansion. This is why this german human rights issue is far more important than people realize. The refugee crisis. If germany takes the people in, they have a very accommodating policy. Not for money, for peep. This would be good for europe in terms of the amount of money germany has to spend. Im not talking about civil rights and how you feel about it. They have to put the people somewhere. Germany has always been an accommodating country when it comes to people who are in trouble. Certainly, this video out of budapest. This is going to change europe policy. We are overlooking a crisis that germany will address and the conservatives will fold. Jerry said this image of this syrian boy who drowned and led the nightly news last night is as iconic as the man in front of the Tianamen Square tank. I think he is dead right. I think we underplay it. The hungary train strike. They shut that down. I was there last year. That is a major hub. Whats going on to me is t there are decisions being made at the highest level about whether to take these immigrants in. If they do that, they have to print money. The austerity issue is in place on the immigrant issue. You have to overlay that you cant be as austere if you are going to take people in. People have to watch that. It might seem tangential to what we do here. Germany has fought everybody for expansion and is based with a dilemma that makes it so they cant be austere. Twitter is holding a Board Meeting this morning. A watch is on to see if the company will name a permanent ceo. Cowfounder, jack dorsey, has been serving as interim for two months. Shares down 20 , 2 above the 2013 ipo price. He tweeted a picture of him at jenos barber shop trimming his beard yesterday. Nice. I do believe that sometimes you have an axe. I remember this when i was at goldman. Rob peck is the axe. He hates it at 50. He likes it mid20s. Who are we to bet against rob beck . I say that rob peck is going to be right. Feeling better because of peck, my Charitable Trust owns it. A bushel of ceos and a dose of robert peck. Speaking of which, going into tomorrow, we have the chinese pmis for the week done. We are getting ecb out of the way. We have a jobs number tomorrow. It is the friday before labor day and there is a sense among some that a hero in a light market. My hope is that mr. Bulldozer is enjoying vacation somewhere, ozarks, st. Louis. Hilton head, wherever it is. As long as it doesnt have wireless and there are no microphones. We are not going to hear from a good jobs number that he is sang quin sanguine pops up anywhere, i am paying for that key number. Thats bullard being sanguine about whatever happens. You want a day free of fed tape bombs. I am tired. The interesting thing about the fed is that they are saying, they are going to be mindful of market tumult and then they cause the tumult. They are causing the tumult. Thats a really great thing. You had them saying, listen, we have to be aware of market tumult. Then, you had bullard. Interviewing syria satellite. Maybe this guy is going to go into a ham radio. Who knows where this guy could pop up . Did you you hear fisher on . He said he wants to tighten. He truly a nice man. Dick fisher on squawk this morning said that if the fed declined to hike, that shows that the markets are in control and thats obviously it. He has wanted to hike forever. We are very bad. We had robert chiller on calling the market dangerous. I listened to that show and i just said, you know what, i want to go back to bed. Then, i realized, there is no place thats safe from people who have a microphone, no place. Mr. Fisher, professor shiller and forward. Treat dwroe, tthe trio. These guys would be fabulous if they took a vacation to machu picchu. We flew over denali. My doubt s tesla ceo tweeting a message being wellreceived on wall street. Well find out why. We will keep our eye on the ecpb, which continues as we speak. My name is mark amann. Im a gas service rep for pg e in san jose. As a gas service rep we are basically the ambassador of the company. We make the most contact with the customers on a daily basis. I work handinhand with crews to make sure our gas pipes are safe. My wife and i are both from san jose. My kids and their friends live in this community. Every time i go to a customers house, their children could be friends with my children so its important to me. One of the most rewarding parts of this job is after you help a customer, seeing a smile on their face. Together, were building a better california. Shares of tesla rising in the premarket. The electric carmaker announcing plans to deliver the first model x crossover vehicles on september 29th. Teslas ceo, elon musk, tweeted, model 3, our smaller and lower cost sedan will start production in about two years. Fully operational gig ga factory needed. 35,000 will get you a car with a tesla logo on it. Look, i have said it over and over again. This is a stock car situation, stock car. You like the car, you buy the stock. I want to look at that car. I want to look at that 35,000. Really . Yeah, i really do. I am going to go over to the mall as soon as it is available and take a look at it. I made turn my 2006 car in for. So you dont see a problem with demand . That price point is what ive been waiting for. North america told me they didnt think they could get to this price point. When it does, they want to be in that market. People might say, hold it. Wait a second. Maybe the price point is going to be solo that i will commit. Again, i am not saying buy tesla stock. I test drove the others. I have to say, i thought they were above my price point versus what i need. Not this. There have been a few things that have frustrated the shorts here. Obviously, musk, buying some stocks. There is the Consumer Reports that broke the bank. You still call it a cult stock. It is a cult stock. Cult stocks can last for a long time. A lot of people were emboldened by amazon, they reveal they are making a huge amount of money. I think musk is a brilliant man. No denying that. I have to tell you, this is a cold stock. You buy it, because you think in 2020, i was on a radio show with my friend, jerome levin, he has a show. He is from detroit. He used to be at the new york times. He was saying, what do you think about the 2020 situation with tesla . I said, i cant go out that far for tesla. I go out that far for boeing. You can buy it with the idea someone else is going to buy the stock. I would call it profitable. When they see this model, they are going to be impressed with that price. Washington post has a big piece on Energy Storage in this country, growing at six fold, q2, over q1. Marcellus from utica, pennsylvania and ohio, the gas price is 95 cents. The storage, we only need about 50 of the storage thats going up right now. It is really kind of hard to mix and match where whats preelly happening in oil in this country. I have to tell you, there is too much pipe for oil, too much storage for oil. Not enough for nat gas. People are going to start to differentiating these. It does bring us to burton upgraded. Slumber upgraded at citi. This allows most of the Oil Companies to make really good money at 50. We are not at 50. I dont know whether they are trying to get a jump on 60, 70. I see we are in a lower, longer but that we saw the lows when everyone got bearish at 38. My technical people. It is financial, they are saying over and over again, if you got to 38, it would hold. I dont think oil is buy or sell. I dont think these stocks are buy or sell. I do recognize that halliburton has this frac now, pay later strategy is working. We have an iran deal that is not in the books but getting there. Slumberje, it is a fabulous company. Halliburton, we dont know what the government is going to do. The fact that oil did not go down on that inventory number shows me there is some equill b equilibrium coming to the market. The saudis, not attain believe. When we come back, well get cramers mad dash. One more look at the market. Futures in the green by about 90 points on the dow. More squawk on the street. Back in a minute. Opinions. Theres no shortage in this world. Who do you trust . Whose analysis is accurate . How do you make sense of it all . A simple, unbiased stock score consolidated from the opinions of independent analysts. Is that too much to ask . Nope. Equity summary score, powered by starmine, will help you execute your ideas with speed and conviction. And its only on fidelity. Com. Open an account and find more of the expertise you need to be a better investor. Can a a subconscious. Mind . A knack for predicting the future. Reflexes faster than the speed of thought. Can a business have a spirit . Can a business have a soul . Can a business be. Alive . I could talk costly Monthly Sales and this General Mills deal but medtronic is the star. They were the last to do the inversion. They bought covidian. The deal is really paying off. Medtronic is mid to high single digit for all the different cardiovascular devices i was looking for. Saint jude, also, well run and many rumors of that. It is very good, medtronic. This stock could go higher. Joy global is a disaster. They are talking about their customers having a lockdown on spending. Surface Mining Equipment sales, down 53 . The bookings are down 31 . What is this . This is iron ore and coal. Read through caterpillar. They bought their principal competitor. This is china not being good and iron or plummeting and coal, buy, buy to coal. Xwh ywhen you talk about all wood thats been chopped, not enough. Great manufacturer. When you are refer to iron or and cole, iron ore is brazil and coal is our government. We are not going to use coal in this country. It is going away. It is going away around the world. When you read Global Warming articles, think joy, joyless. The only joy we are going to be talking about is the joy that Procter Gamble has. There, i think the yield is going to go to 4. No one has ever said you can be bullish on mining, joy. No, i dont like freeport or brazil. Brazil is really what im most worried about. Seventh largest economy. It is a disaster. Really need political change there. Just about 5 30 until the opening bell. Well get that in just a minute. Dont go away. So many stocks down and out. You have to ask yourself, why does anyone feel good about this market while every business is unique, everyone is looking for ways to cut expenses. And thats where pg es Online BusinessEnergy Checkup tool can really help. You can use it to track your Actual Energy use. Find rebates that make equipment upgrades more affordable. 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If you have a onetwo punch of a strong jobs number and fed people not being able to resist speaking. What are you worried about them saying . Thats it. There is nothing left. We are going to tighten. Then, on tuesday, we come in and china is down huge because they devalued again and the chinese stock market doesnt hold 3,000 and you have that same situation that we were in two weeks ago, thats what im most concerned about. Tumult paused by the fed accentuated by the settling the chinese throw on our market because they are decelerating from their growth rate so quickly. This is the onetwo punch we have to worry about. It is the emerging markets that will be cause in the real squeeze. I focus on brazil. It is a company you dont want to have go belly up. It is an important country. Your take has been . We have talked about your cheat sheet this week, your patience in watching these names retrace. Im guessing you think there will be more opportunities . Yes, thats how i want to put it. Se celgen is back up to 120. I look at General Mills and the deal they did. A green giant, they take the 700 million and buy back stock and General Mills remains a goto stock for me.