Of a g20 communique. He welcomes the stock market correction. It was a super bubble. A bubble of a bubble. When you go there and the taxi driver is telling you which stocks you should invest in. He says even a 10yearold could see why the greek bailout was wrong. Telling cnbc that no Political Party could stabilize an economy thats imploding. Its of the upmost necessity and has been for a few years now is to have an Economic Policy which ends this extend and pretend nightmare over the last few years. It is one of the most critical jobs report in recent memory. This could be the number that decide ws whether the fed will lift off or push out its rate hike over the last month. Theyre calling for an increase in 220,000 in nonfarm payrolls versus 215,000 in july. August tends to quirky. The jobs number is often inaccurate as many people are on vacation when the government conducts its household and business survey. Lets take a look at u. S. Futures. Stocks failed to hold on to gains. The nasdaq was down 17. Here on friday were significantly lower in premarket trade. The dow down 164 points in premarket. European stocks jumped on the heels of draghis comments yesterday hinting that qe could be extended if needed so we did see a big rally yesterday but here on friday a very different picture. We are lower across the board. 1. 7 loss. Seeing a loss of 1. 6 after a very negative night in asia. Thats something that theyre watching. What it means for fed policy and the implications across the world. Absolutely but that negative session is a big cause of the negativity here in europe today. Weve seen a flight to safety ahead of the critical jobs number and of course over the last couple of weeks the the nikkei, the euro, they have been the safe havens. Not the u. S. Dollar because they have been used as funding currencies of course over the last year really. So we have seen the yen strengthen today and that negative correlation between the yen and the nikkei. Very clear there. We have 2. 15 of declines from the nikkei. Lets get out to sri with an update on broader asia for us now. Hi, as you pointed out on the japaneses markets theres no shortage of risk aversion and real jitters in our regional markets ahead of the key and closely watched nonfarms payrolls report for the month of august. 7 month low for japanese equities. We closed 2. 2 lower. Yes the stronger yen is part of the reason. That was a drag on the Broader Market but its uncertain as to which way emerging markets are going to go after the payrolls number. If we see a strong constructive lead are we going to rally hard on the back of that or are we going to fall sharply on the back of that . If it is a strong number it will build a case for a september lift off and that could cause risk aversion out here and hasten capital outflows if thats what the market is fearing so its very hard and i think thats why were seeing a fed degree of uncertainty in the markets here. Sentiment though is still quite fragile because of china thats yet to draw a hard line on the throwing growth expectations so really adding to the nervousness out here in asia. Back to you now in london. Thank you so much. Lets look at the other top stories or what banks are saying about todays highly anticipated jobs report. Credit sussie notices that august payrolls have been revised to the down side. Theyre belocon census number at 180,000. Now analysts are even more pessimistic predicting payrolls growth of 170,000. They say august employment has missed consensus expectations in 21 out of the last 27 years. But at the other end of the scale barclay which is is forecasting nonfarm payrolls to rise by 225,000. The bank points to stable jobless claims and declines part time employment for their bullish call. We do want to hear from you on this topic. What jobs number would put a september hike off the table . Get in touch with us. I suppose thats the big question today. Im not so bothers of how high its going to be. Its what the crucial low that would put september back and i think it would have to be quite a lot lower. I still think they would want to consider september as a possibility so as long as its above 185 its still on the table. You think its still on the table even though the fed fund rate is pricing in a september rate hike. Its a straight leg raising low chance of september actually happening but given the Macro Economic picture thats why this number is so much more porn because we know the external picture has been weakening and i dont know if 2015 is on the table and its going to be interesting to see what she says about the picture. Because he was very clear the reason why he was downgrading his inflation and growth forecast. He kept saying the International Picture in particular, emerging markets so clearly as you say thats a factor but in order to totally i agree that december seems much more likely than september. But to totally rule september out id go for 185. I think anything under 200 will get people talking. Minneapolis fed president is arguing against raising rates this year. Speaking in montana he says thats because inflation has been and is likely to remain below the feds 2 target for sometime. The fed can furthered a the labor market by refraining from boosting rates. The richmond fed president speaks before the market opened today at 8 00 a. M. Eastern. His topic is the case against further delay. Emerging markets raised concerns about fed normalization. But reuters reports they will not urge janet yellen to hold off on raising rates. Steve is at the g20 summit. Lets get out to him now, steve. Yeah and just carrying on your conversation about payroll its all about not scaring the horses. You want it lukewarm because if its too hot a number it will be in rate hike territory. Theyre all going to start worrying about Global Growth. So talking about the rate hike and concerns from the emerging market so many of the g20 nations are suffering about concerns from the rate hike and china as well and the latter is about the resource story. About the fact that even though china maintains its still growing at 7 those believe its going to be growing slower. Moodys thinks it will be 6. 3 . Its the lack of commodity purchases that lead it slamming to that side. Whether its materials across the board that frightened people in this market. You look at australia, brazil, canada, mexico, russia, south africa and saudi arabia. Theyre all selling product to the chinese and worried about it and worried about the deflation nary cycle that could come if the chinese need to galvanize themselves by a lower currency and aggressively moving their exports on to the world market and creating an inflationary cycle. Thats very hard to obtain so i asked the secretary general about concerns regarding deflation. Weve had a few months where we talk about deflation but now the latest drop in prices is coming because oil has dropped and because commodities have dropped. That is benefitting a number of economies. In fact, we have come out with a conclusion thats net positive but its not holding back the recovery. Except for some countries, look, my own, Oil Countries or Oil Exporting Country which is are suffering. Canada has had negative growth because of the price of energy but in the worldwide net positive. So this is why were having a pressure and prices. Now the idea is precisely, you know, with the efforts that the europeans are doing, bank of england is still at it. The fed is taking longer to normalize because they see the writing on the wall but theres full awareness about this thing and everybody is working with hair eyes open and these are the meetings where you come to say okay, you know, it focuses the mind, you know . Because you know youre going to be facing all of these guys and have a very good story to tell precisely to address these issues. Here in lies the problem. You have him talking about it being a net positive for the global economy. Well the problem is part of the secret sauce always talked about in these circles is investment. Theyre implementation, inclusiveness of growth and investment as well and that was a key part of the plan last year. The problem is investment is falling off the cliff. Weve seen the hundreds of millions of dollars being wiped out as they take products and moth ball them as well but we should see investment elsewhere and the problem is, seema, its not happening and thats why because investment elsewhere out of energy is not happening to negate the negative factor which is are coming from that slow down in those resources and in the china sector. Steve, how much coffee did you have this morning . How much coffee . I dont drink coffee anymore. You just naturally. I havent drank coffee for over a year. Im just naturally exuberant. I love my job. Thats why. I peel you. Right back at you. Quick question, fed policy has been a big topic of discussion at g20 but do you think leaders in perhaps even markets in general are way too obsessed with when the fed will hike rates . Perhaps the focus should be more on the path to normalizations verses the actual timing. Wour would you agree . You make very good points as well and madam lagarde made the point that we cannot have them raising rates in this environment. She was talking about the bank of england but mostly about janet yellen and the federal reserve. In Mortgage Rates in the United States the 30 year rates had all but priced in a rate hike coming in september. The markets had all but priced in a rate hike coming in and then suddenly there was worries about china and worries about the effects on emerging markets and worries about what it meant for the dollar and the corporate profits for the 50 plus of S P Companies and they suddenly started getting worried about all kinds of other things as well. I think it wuas factored in andi think its part of the extra volatility in the markets again that a tiny little rate hike. Were talking about 25 basis points possibly is having such a great effect when it was already factored in potentially. Why is that . Thats because everybody is worried about broader Global Growth and the financial markets, the lack of liquidity and its just a symbol rather than anything else. And its the jobs report that could change the story when it comes to fed policy. Thank you for joining us. Stick around, analysts say star wars merchandise released today could generate up to 5 million worth of revenue for disney. More on that story coming up in two minutes. dorothy toto, ive a feeling were not in kansas anymore. morpheus after this, there is no turning back. spock history is replete with turning points. kevin wow, this is great. commentator where fantasy becomes reality penguin 1 where are we going . penguin 2 the future, boys. The glorious future. vo at t and directv are now one bringing your television and wireless together and taking entertainment to places youd never imagine. rick louis, i think this is the beginning of a beautiful friendship. Without the internet i would probably be like a c student. Internet essentials from comcast has brought lowcost high Speed Internet into the homes of hundreds of thousands of lowincome families. It lets students do homework and study at home. So far more than two Million People across america have benefitted. Internet essentials is going to transform the lives of families. I see myself as maybe an entrepreneur. Internet essentials from comcast. Helping to bridge the digital divide. Lets get you some headlines. Stocks retreat ahead of nonfarm payroll with the nikkei slumping to 7 month lows. A u. S. Grand jury indicted the london day trader who helped contribute to the flash crash in 2010 and messaging milestone. Whats app says monthly active users topped 900 million. Lets get into todays top stories. Gaps sales streak carried into august. Reporting steeper same store sales declines down 8 and 11 respectively. In june the Company Announced it will close 175 gap stores in north america by january. Down 22 this year. Its up today by 1. 7 having fallen 4 in after hours yesterday. Shares fell more than 30 in after hours trade. Reporting lower than expected second kwar sales. The company was hurt by weak demand in the segment. Also cutting its 2015 sales forecast. Shares are down about 60 this year. Donald trump ruld oed out running as an independent candidate after vowing loyalty to the republican party. He waved a pledge he signed saying he sees no circumstances under which he would tear it up. Trump had been under pressure to signal his commitment to party after annoying several republican figures with his socalled no nonsense campaign. Coming up on Worldwide Exchange well talk tech. Specifically the Competitive Landscape in the smartphone and wearable device market. Were bringing in the president of lenovo to discuss those two things. Were back in two minutes. Try the superior hold. Of fixodent plus adhesives. They help your denture hold strong more like natural teeth. And you can eat even tough food. Fixodent. Strong more like natural teeth. Fixodent and forget it. Whatsapp passed 900 million active users. Facebook bought them for more than 16 billion last year and has yet to make money from it a study shows 3 quarters are on Android Devices. Lets look at it coming for us shortly. The amazing thing about whats app there is the pace of growth throughout 2015 although scale gets harder the larger your user base is. The question is can this momentum continue given that theres other messaging platforms out there like snapchat. Thats more of a visual platform but these are doing quite well. And also so far have we seen facebook really put its power and might behind whatsapp . No. Its still the own organic growth despite the take over and when it was taken over at 16 billion were thinking thats another seat valuation but this rate of growth is incredible. With investors see this 900 million users as justification for the big acquisition they made last year. The Japanese Electronics giant says its latest watch due out in october will be compatible with smartphones running on googles android system. Lenovo has taken its next step in the smart watch wars with the release of the new moto 360 through motorola. It will be compatible with android and apple devices. The chinese giant unveiling a new version of its tablet at the ifa conference in berlin. Joining us is the president and ceo at lenovo. Thank you for joining us here on Worldwide Exchange. I want to get your thoughts on the release of your new smart watch because apple, samsung, fitbit, theyre all competing in the wearable space. What sets apart your device from these players . At least a couple of things. One, we paid a lot of attention to technology and innovation but also to the design so we have been trying to design a watch thats really looking like a watch and the other important thing can we can offer our customer the possibility to customize their own watch in a big number of different possibilities and, you know, watches pass all other devices and people want to carry something that fits with their own personal style. You remain very much in the pc market and the pc market remains very much in decline. What is your outlook for the pc market . Is it a case now of just being the best player for as long as possible or is the market itself going to turn around and grow again . I think for sure the pc market is still showing negative growth. I think it will still come back. Probably wont see it come back to growth like we have been seeing two or three years ago. What is really different in my opinion is the refreshment cycle before it was two to three years and now its 3 to 4 or five years but it will come back. Its probably going a little bit on the other side i thits very very clear that we see a consolidation process in the market with the big players getting bigger and stronger and suffering more. We see very Good Opportunity in terms of growth in the market. Yes. Thank you so much. Mounting concerns around the slow down in emerging markets as of late. We have been seeing a lot of volatility in markets. Id love to get your thoughts as the president and ceo of a major tech company, what are you seeing in emerging markets and how is it impacting your bottom line . Well, first of all, let me say that today lenovov is a very Different Company than years ago. Were very well balanced between the different regions of the world. When i look at emerging market its too big for us but probably in the range of 30 or 30 something . So more than 70 is not coming from emerging market and when we look at emerging market theres some market clearly slowing down some other market that we see growing nicely. I also think we have seen the things that weve see a few years ago. It will come back for sure. Im not so worried about emerging market, frankly speaking. At least from our point of view. Very interesting perspective. President and coo of lenovo. Thank you for joining us here on Worldwide Exchange. You can see more of our tech coverage from the trade fair in berlin. Head to our special report page on cnbc. Com. Wilf is on it probably twice a day. At least. At least. No, well worth the look. A great page. In the meantime lets take a look at u. S. Futures. We could be in for a rough ride on wall street. The dow indicating a 157 point move on the down side. All eyes on that jobs report. Worldwide exchange were back in two minutes. Try the superior hold. Of fixodent plus adhesives. They help your denture hold strong more like natural teeth. And you can eat even tough food. Fixodent. Strong more like natural teeth. Fixodent and forget it. I was going to the library to do my homework. It was a little bit of a walk to get to the bus stop. I had to wait in line to use the computer. Took a lot of juggling to keep it all together. Whats possible when you have highSpeed Internet at home . The Library Never closes. It makes it so much better to do homework when youre at home. Internet essentials from comcast. Helping to bridge the digital divide. Youre watching Worldwide Exchange and im seema mody. Here are your headlines from around the world. Risk off the table ahead of the critical nonfarms payroll report. A triple digit loss for the dow as investors pile into the safety of the yen. Jobs number threatens to delay lift off. This as they say again that