At the Chemical Plant in texas are very possible. Ceo, whording to the briefed reporters about conditions at the plant. He said one of nine chemical containers caught fire yesterday, but more will likely it night over it night over the next few days. He warned residents of the area against coming home. A third round of brexit talks ended in stalemate yesterday. Davis says members of meets with members of the u. S. Chamber of commerce today in washington. The outcome of the election, i am not going to guess, i have my views, but i am not going to guess publicly. But the outcome of the german election, i think, will be to accelerate the process. Mark nearly four months after firing james comey as fbi director, donald trump is still tweeting about it. This time, he is tweeting about claims that comey decided early on not to pursue charges against Hillary Clinton about her email scandal. He tweeted the president of kenya has told supporters that the Supreme Court chief justice and his crooks decided to take away his win. He spoke in nairobi hours after the court nullified last months election and called for a new vote within 60 days, citing irregularities. I respect it. Idisagree with it because, as have said, millions of kenyans came out, made their choice, and six people have decided that they will go against the will of the people. Court saids supreme the Election Commission committed irregularities and illegalities after the Opposition Leader challenged the vote. Lowball news 24 hours a day powered by more than 2700 global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. Vonnie lets get a check on the markets. The jobs report is affecting markets today. The dow is up 20 points. The s p up another. 3 . The nasdaq app. 2 . Is back 10 year yield at 3. 1 percent. We are keeping an ion crude oil futures as well, recovering a little bit, although down. 25 . Gold futures are still higher at 1329. 30 an ounce. Assets toplenty more add as we get through the half hour. First, the jobs report. Employers adding 150 6000 jobs last month, fewer than forecast. 156,000 jobs last month, fewer than forecast. National Economic Council director gary cohn expressed concerns about wage growth. We do want to get wage growth back in the system. You are absolutely right. When i looked at the numbers, the first thing i saw was the wage number. It has been flat. We need to put more money back in consumers pockets. That is what we are trying to do. Annie for more, we bring in Global Market strategist. Gabriella, is the consumer the problem . Dont thinko, we the American Consumer is the problem. In fact, it is the bright spot of the economy and has been for the past few years. We saw strong consumption in the Second Quarter after a positive in the first. All indications, including consumer sentiment, are pointing to a very optimistic consumer going into the Third Quarter as well. Why is gary cohn saying the consumer will come to the rescue . I think what he is referring to is the fact that with such a , usuallyloyment rate at this point in the cycle you would have wages growing much closer to 4 yearoveryear. Instead, they have been stuck in a much lower gear of 2. 5 . His estimation is well, its the consumer and tax reform as in tax cuts consumers will push wages higher. That seems a little false. Gabriella i think we need to acknowledge that wages are lower than we would like, but then we need to ask ourselves why that is. We do not think wages are low because there is all this black in the economy. We do not subscribe to that view. It is not because of jobs, for example. We think it is because of structural factors that have theed much more power in hands of the employer rather than the employee. It is about fixing structural issues rather than trying to provide stimulus to boost hiring. That is not going to fix the issue, in our view. Vonnie we are looking at this chart of hourly average earnings. The yellow line is the unemployment rate. Seasonally adjusted. Obviously, the average year over year is the blue line. Its a fascinating chart that will show you how wages are not keeping pace. What will the Federal Reserve decide to do if wages stay around 2 . Aroundla if it stays two point 5 , they are trying to figure out what is causing such week wage growth. , theyre trying to figure out what is causing such weak wage growth. It is not slack in the economy. A lot of fed members have come to the conclusion that the wage market is very tight. Its not about employment gain. That is not the issue. It is structural factors. These are things the fed cannot fix on its own. Could normalize policy they could normalize policy. Look after Asset Management clients. Their number one concern right now . Our clients think are feeling pretty good when it comes to the economy. We have a lot of discussions around interestrate policy. It has been a bit of a surprise to see the 10 year stock at a very low percentage. Stuck at a low percentage. We think Interest Rates are going to move higher. The fed is continuing to normalize policy. We need to position appropriately within the fixed income part of the portfolio. Vonnie what does that mean . Not being overly gabriella not being overly concentrated in things like fixed income. Go . Ie whered you gabriella within fixed income specifically, we still prefer credit and highyield bonds. Vonnie there are a lot of warnings out there about that sector. Deborah l a we are talking about an economy that is still groep gabriella we are talking about an economy that is still growing. Recessions are when yields spike and we are not there yet. When we are talking about high yields, you are right, the markets are tight and they are not cheap. We are not expecting doubledigit returns. What about elsewhere in the world . Gabriella its not just about fixed income. When you think about should i be positioned in the u. S. Or globally, we increasingly encourage our clients to have more global exposure. The euro zone and the emerging markets story are places where we are seeing growth pick up to the fastest rate in six years. We are seeing doubledigit Earnings Growth and we have a long way to go over the next two years. Vonnie thank you so much. Up, ceos and Business Leaders urging donald trump to keep the socalled Dreamers Program for immigrants. We will look at how this could impact Economic Growth. This is bloomberg. This is bloomberg markets. Imf vonnie quinn. Its time for our talk of the hour. How could we not take a look at lululemon . It all down with Abigail Doolittle. Lululemon is the darling again. Abigail Everybody Loves it or hates it. I personally dont shop there. Do you . Vonnie no. I dont work out, so thats kind of a problem. Abigail neither of us shop there, but apparently, every other woman in america does shop there. They beat estimates. Up 4 , versus the quarter before , up just 1 . They also raised guidance. There is a great graphic that shows what happening here. Surge in online growth. You can see that really tells the story. Amazons all been about taking over the retail world. I think investors want to see that most retailers have a firm footing in the online world. The growth suggests that they are there. Had a tougherave time. Is it competitors, or is lululemon doing something right . Abigail they appear to be right in the middle. Nike is up on the year. Under armour less so. If you take a look at lululemon, earlier, down 20 . To your point, it wasnt a darling a couple months ago. Now almost even on the year. It appears under armour has an whereas nikeshoes, is firing on all cylinders. Vonnie we have to leave it there. Abigail doolittle, thank you very much. That is Abigail Doolittle with our bloomberg update on the hour. Hundreds of ceos and Business Leaders around the u. S. Are urging President Trump to keep the Dreamers Program for young people brought to the country illegally. Jeff bezos and tim cut among signing atim cook letter, among others, saying that a dreamers are vital to our economy. In tome, i want to bring giles in san francisco. Thanks for joining. Lets broaden it out before we narrow win specifically on what Silicon Valley has to gain. Why is the president taking the stack . Is it just another case taking this tack . Is it just another case of eventually he will do the right thing . Tim the president has flipflopped on this issue. At the beginning of the campaign, there was criticism of it. When the antiimmigration rhetoric started to ramp up, this was the exception. He said we are going to treat them with heart. Then, more recently, we heard this is still under review, being debated. Doingeculation about them away with this has kicked into high gear more recently. I know ceos are not his favorite people at the moment, having dissolved several Business Councils and so forth. An executive that microsoft wrote, we care deeply about the dreamers who work at microsoft and fully support them. There is no question in my mind tot the priority must be create more opportunities for every american citizen. On top of that, smart immigration can help our Economic Growth and Global Competitiveness or co tim competitiveness. more than 50 ceos have signed this letter. It has some pretty impressive numbers in it of how much would be wiped out of gdp if you did away with this program. Something like 800,000 people are beneficiaries of this policy. In medicareollars and other tax benefits would be gone away with. These are people who come to the they are getting educated, starting companies, working at some of our visit biggest corporations. A stat in their talks about how more than half of the companies employedrtune 500 dreamers. There are 27 at microsoft alone. These are people who have really woven themselves into the fabric of america according to the ceos. The point they are trying to make is that this would have a big blow on american business. Paul ryan, the house speaker, says he thinks the president should not do anything about this and there is Nothing Congress needs to fix. Inarately, orrin hatch said a statement that he is urging donald trump not to rescind the program. Its almost like, be careful what you say or he will resend it. He likes to do what congress does not want him to do these days. Tim the other issue is the Business Leaders who have abandoned these councils and president e with the in the past, does that remove their leverage, their ability to influence him . And though, what you are seeing is a public display of people saying this is a step too far. You want to crack down on immigration. There are clearly other things the president has talked about death of president wants to do in terms of restricting the flow that theked about president wants to do in terms of restricting the flow over the borders. Vonnie tom giles joined us from san francisco. The star wars shopping bonanza is underway. Was it ever not underway . It is under way in a special way today. We look at the last jedi and how it is helping disneys bottom line. This is bloomberg. In the past, does that remove their leverage, their ability to vonnie this is bloomberg markets, i am vonnie quinn. Time for a look at the Bloomberg Business flash, some of the biggest stories in the news right now. Employers added fewer than 150 6000 jobs and wages barely grew. Jobs and wages barely grew. The university of michigan says sentiments have not been this high for the first eight months of the year since 2000. President trump will decide to block china from buying a Semi Conductor valued at 1. 3 billion. Has 15 days to make a decision. The michael and Susan Dell Foundation has pledged 36 Million Dollars to harvey relief. Dell saystive michael his donation and it will donate run the rebuild texas fund by governor greg abbott. It will help the street where his childhood home is underwater. That is your business flash update. The recurring shopping spectacle for star wars toys is in full swing today just in time for the september release of star wars the last jedi. Bloombergs l. A. Bureau chief joins us from los angeles. Chris, how much have you spent today, may i ask . Chris i am a little blearyeyed. I was up at midnight. I need a shot of espresso. It was a huge crowd at target. People were buying. The couple in front of me spent 240 dollars on stuff. It is a successful event that is getting a lot of attention worldwide. We will see how that translates into longterm sales. Vonnie we had a report a few weeks ago that some mobile apps would be new. Chris a couple of new things. A big focus on technology. You are seeing the augmented reality app. That is a promotional tool. Ill a lot of toys are based on technology, lightsabers, hologram chess, robots you can program, and characters, these cute, penguinlike creatures, and an evil version of a droid. A lot of excitement for fans. Vonnie you would imagine the light sabers would be a huge seller. The Virtual Technology is fantastic. Its almost like pokemon go. You can walk around and find star wars characters in your environment. Do . Will the lightsabers they have to have something new, dont they . Is what they are suffering from, the problem of tough comps. In 2015, the force awakens was huge. The biggest Product Launch that year, for sure. How do you top yourself . Its tough to do. A little strange to release this merchandise when the movie is not going to be out until december . Chris this is pretty standard. It has been a struggle. In 2015, there was not enough ray merchandise. Of thathe heroine film. It is a tugofwar of how much you want to reveal versus what you want to sell. Vonnie is this the last one . Chris i wouldnt bet on that. Answer that was the only we would allow you to give. Our Los Angeles Bureau chief. Coming up, we will talk immigration answer we would allow you to give. And the labor economy with the head of one of the largest unions in the united states. Ve a look at tv its a reminder that you can follow all of our interviews and catch them afterward on the bloomberg. Just type in tv. We have related functionality charts and everything your heart could wish for. Have a happy weekend. More markets straight ahead. This is bloomberg. David from bloombergs headquarters in new york, i am david gura. Welcome to bloomberg markets. Here are the top stories we are watching at this hour. Rick perry will join us with an update on Recovery Efforts as President Trump promises to make a return trip to texas tomorrow. What will happen to the dreamers . Contenders p considers changes to the dock a program. Dacaf labor day, program. Day, someone who has decided to leave President Trumps manufacturing council. Trump isesident meeting with representatives of relief organizations in the oval office. Us guests are both with