Good morning and welcome to Worldwide Exchange. Im sara isner and im wilfred frost well get the latest on irma in just a moment, but first, lets check on global markets. Apple led the nasdaq higher ahead of its big iphone unveil today. 11 out of 11 sectors on the s p were higher led by the banks reverse ago 3 decline last week for the Financial Sector that was mainly because of yields rising. Also reinsurancers got a big boost on the back of irma. They did, indeed. We also had news on barclays at the conference, Goldman Sachs and wells fargo in the spotlight. We look set for another positive day on wall street ten heavy year treasury note was key yesterday, as i said yesterday we touched below 0. 5 moving close to 2. 15 yesterday and we remain around that level. So a big move, higher in yields yields it pushed the dollar higher, it pushed the equities higher, as well and the move continues in asia overnight the japanese nikkei after a 1. 4 day the day before higher, another 1 gain overnight. 1. 2, really liking that weaker yen that weve been seeing in yesterdays trading session. Hong kong closed higher fractionally, same with shanghai and the south korean kospi index up about. 3 the german dax is trading nearly twomonth high hes right now, up another. 5 . The ftse 100 is the underperformer of the region, but pretty much overall for the upper row stoxx 600 which is sort to have broad measure, it has been a pretty strong run the ftse is lower because the pound is higher. If we have a look at currency boards, we have cpi data coming in at 2. 9 that was higher than the forecast of 2. 8 , higher than the last reading of 2. 6 and clearly well above the bank of englands target range of 2 , raising prospects at the bank of england might have to hike rates. We have a meeting on thursday not expected this thursday, but you can see a big jump in the pound off the back of that, 0. 9 , 132. 7. We have got a weaker dollar elsewhere against the likes of the euro but it continues to move higher against the yen, extending what was a huge move for the dollar higher against the yen yesterday. The broad intext the was up 0. 7 in reaction to that move higher in yields. Hoyle prices for you are a little bit down today by. 5 they were up about 1 yesterday. So just offsetting that a little bit today. 47. 8 for wti and gold prices for you having had a positive weak very much moving in opposite to equities higher this week and lower in light of of it being a more risk on environment irma has been downgraded to a tropical depression as it pushes north into georgia a look at the destruction in its wake this had video out of jacksonville, florida, late yesterday. You can see the storm surge flooding the streets and damaging cars. So while the read sort of on wall street sxt beyond was that we dodged the most catastrophic scenario for irma, clearly this is far from normal for many floridans. Millions without power the this morning from florida up through South Carolina utilities crews are working around the clock to turn the utilities back on. Jackie deangelis is working that story for us from West Palm Beach, florida good morning, jackie the power story appears to be the one affecting most floridans. Thats right. Because it covers most of the state. Yesterday we saw more than 6 Million People across florida without power. That number has dropped down to a little over 5 Million People thats definitely a step in the right direction considering the fact that this storm just blew through. But sometimes its the outskirts, the outer parts of the state that are the hardest to get to. Crews not only have to get out and restore the power, but make sure that these wires are safe this is a neighborhood that didnt have power about eight hours ago. This morning, some of the lights are on and we suspect that they do. But, again, these safety impediments are something that crews have to work on. In Palm Beach County specifically, we saw a little over half a million yesterday with that power. That dropped about 125,000 but still, this is a massive project to take on and there are crews even coming from out of state to try to help with these efforts the ceo of Florida Power light had this to say about the overall situation. People out of power for weeks. You need to understand, particularly if theres structural damage, it absolutely could be weeks if we have to rebuild parts of the system. Now, i know some parts of florida are more hard hit than what were seeing here in West Palm Beach but this power issue in communities like this is going continue to be a problem right now b people are starting to get ansi. Theyre not flooded, so they can get back to their routine operations its not just the electric, guys i remind you of the fact that it is very hot down here. Yesterday it was 90 degrees and humid. You have populations and communities with elder will i people, people are special needs, as well so the heat certainly could be a problem. Talk to us about the type of damage weve seen in florida and how it compares with what weve seen in houston in terms of harvey is it home damage, car damage, flooding or whipped and what that means for the likely kind of way that its going to be waved for rebuilding. Well, you have a very diverse type of damage across the state. In West Palm Beach because it was east coast, it wasnt hit as hard as some of the other cities along the west coast the keys, tamp ya, etcetera, they saw a lot of the flooding, a lot of the storm surge here, its a lot of downed power lines, a lot of trees, a lot of debris so the cleanup efforts are going to be different, but thats not to say that theyre not going to be difficult. Certain parts of palm beach had to be evacuated. We were concerned about the storm surge here, as well. I havent heard anything specific on maralago but i can tell you that this area, relatively speaking when you look at the rest of florida, was seems to be compared jackie, thank you turning now to our top corporate story, apple is expected to unveil its latest generation iphone as a product event this afternoon lets get to landon dowdy with bhor on what you can expect. The day has finally arrived. Apples special event marking the the 10th anniversary of the iphone first, the tech giant is expected to introduce a new iphone or what some are calling the iphone x some key advances to look for, edge to edge screen, no physical home button. Improved Camera Technology and Wireless Charging perhaps the most stand out feature may, in fact, be the price, though the phone has been rumored to cost up to 1,000. Testing consumers to pay it for the latest electronics and its not just phones that will be the apple of the companys high today some reports suggest a new watch with its own Cellular Connection as well as an updated apple tv with four case support investors are hoping apple can win big with whatever the Firm Launches especially the iphone, iphone sales make up about twothirds of apples revenue. And last year was the first year we saw those stocks decline. It is up right now and we will have full coverage of the events starting today at 1 00 p. M. Eastern. So important. Apple has been such a strong performer. Landon, thank you. Up more than 30 this year a lot of it is on expectations for today and what that might bring in terms of people upgrading. And i think clearly a lot of focus on how expensive this new top end model can be the but theyre expected to launch three new versions of this phone so there will be the lower price model. I dont think that top price level is an issue if you expect to have some below it. But im also interested if there is a significant upgrade to apple tv because thats something that theyve disappointed odd in recent years clearly its an area thats very important the way were seeing all sorts of Companies Invest in content which is something they have started to do recently with various shows. There has been a lot of anticipation and there hasnt been much delivery there keep an eye on tech today. Stocks are trading higher ahead of the big event if it turns out to be a big seller, more chips to be made in the supply samsung has record new orders for its fwal axy 8 smartphone. The note 8 officially hits the market on friday and, of course, one of the differences, as well, that weve heard about in the last couple of weeks is if you get surging demand for sam sucks top end models and apples, the Company Expected to meet that demand more quickly is samsung. On todays wall street agenda, the National Federation of independent business puts out its Monthly Business survey at 6 00 eastern and then at 10 00, look for the job openings and survey. On the corporate front, caterpillar is holding its investor day in arizona. Shares of cat are up about 27 so far this year the new ceo took the helm in january so this will be a good chance for investors to hear from him but overall, look at the stock move it has been a pretty strong rebound. Harvey schwartz at 7 30 expected to address their recent problems in the Trading Department and tim sloan at 8 15 a. M. He added himself about ten days, two weeks ago, so clearly feeling like he needs to respond to investors more importantly, were hosting a whos who of the Investor Community with hedge fund titans, private equity giants and Top Institution investors offering their views on the market and some of the best ideas. Well have coverage throughout the day here on krn. Head to deliveringalpha. Com for more information lots of big names. Got a good mix. Bankers and Hedge Fund Managers and policymakers exactly right and im doing the most heavy duty debt panel later in the afternoon. But you love that i do love it. Right now, there is a bing for corporate product. And up next, a developing story out of north korea as the u. N. Security Council Unanimously steps us sanctions and later, demanding answers. Lawmakers send a letter to the equifax ceo following atth companys data breach. The full details when Worldwide Exchange comes back whether its connecting one of the worlds most innovative campuses. Or bringing wifi to 65,000 fans. Businesses count on communication, and communication counts on centurylink. Welcome back to Worldwide Exchange. Lets get up to speed on the Market Action. Off the back of a great day for wall street. All three indices were up more than 1 . Within the s p, all 11 sectors were led higher by financials, some insurers and reinsurancers getting a bounce but banks getting a rise higher and yields rising b, as well in europe, its a positive day across the board where we have a moving higher pound. Germany, a twomonth high, up nicely last week, as well, up. 5 today asian trade is positive, as well, though it is up particularly for the nikkei on the move lower in the yen yesterday. Sara weilfred, the ewe natunited S Security Council approving a ban on north cran gas ex porths and imports. This did stop short at complete oil trade for north korea or freezing the leaders assets, correct . Is that the key take away . Yes, thats the key take away but we have to also take away the fact that this is a unanimous vote i think that is what took the watering down of this resolution we need china and russia on board to get thises are are lugz to go. And i think thats what the flurry of a diplomatic activities that we saw over the many past days or so, thats what it was all about. Yes, it was a unanimous vote no, we did not get that oil embargo, but we need to give some meaning to the fact that this is the very first time that the oil supplies to north korea was actually included. No, not an embargo, but a cap at the current level. Has north korea responded yet to these new sanctions . Not yet i think asia time well get that tomorrow morning, maybe through state run media kcna or its state run media. We have not got that but we did have a prereaction before this vote saying if you keep this coming, then were going to revoke, were going to keep testing things, were going to have more gift packages so that was the message until now. Weve had a relief rally in asia because we didnt get a test this weekend in a way that we did get tests the prior weekend. How significant is it that we didnt get any missile tests over the last three or four days, do you think i wouldnt read too much into that north korea will always have that appetite to keep testing, gain more information about its technology and these north korean holidays, they are just good occasions, good excuses to test its missiles or nuclear weapons, but we did not get that and according to one expert that i talked to yesterday, north korea has not provoked on Foundation Day except for last year so thank you for the perspective from sooul this morning. The wall street strategists and notes have been moving towards a diplomatic solution. Im not sure what signals that well see. And i think the key is the vote. Russia and china going alongside the u. S. Despite different rhetoric of time, they have voted together which i suppose is the wakeup call. Lets see how effective it is still ahead, more fallout from that massive data breach from equifax but first, here is todays National Forecast from nbcs bill karins. Good morning to you, sar ra and wilf this storm has left its market the areas that had horrific flooding yesterday, charleston with the storm surge, jacksonville and the savannah area, that is over with. Now were dealing with this as a tropical depression. Irma is now down to a depression 35mileperhour winds just south of the columbus, georgia, and i will move to the northwest today and we will stop tracking this in about 24 hours as it rains itself out the clouds go from kansas city to off the east coast of North Carolina an immensely huge storm. Everyone is asking whats next we have jose out this there weakened considerably in the last couple of days. It looks like its going to create a loop and come close enough to eastern North Carolina to watch it, but all of the long range computer models take it safely off the coast as of now, just some waves from jose thats your Business Travel forecast more Worldwide Exchange when we come back for the holidays, we get a gift for mom and dad. And every year, we split it equally. Except for one of us. I write them a poem instead and one for each of you too that ones actually yours. That one. Regardless, were stuck with the bill. To many, words are the most valuable currency. Last i checked, stores dont take words. Some do. Not everyone can be the poetic voice of a generation. I know, right . Such a burden. The bank of america mobile banking app. The fast, secure and simple way to send money. Welcome back to Worldwide Exchange. Lets get you up to speed on the Market Action this morning futures indicating another higher start for wall street after a very strong rally day yesterday. S p closing at a record high the dow having its best day since back in march and look at the gains. Dow futures higher by 51 points. S p futures up 3, nasdaq futures up 14. Very little in the way of Economic Data comes later in the week retail sales and inflation data will be market movers. As for the currency market this morning, that dollar bounce we saw in yesterdays session not having a lasting effect. The dollar is firmer against the yen. The pound is stronger on the back of some stronger than expected Inflation Numbers out of the uk. Quick look at oil, 47. 88 down. 4 so weve been in this range following the effects of the hurricane. As refineries start to come back online in texas, 53. 62 is present down. 4 , as well travelers will temporarily assess stock buybacks. Travelerses put an early estimate up to 419 million for catastrophe related losses from harvey, including projected recoveries from reinsurances. Flat today novartis says its biosimilar drug to treat blood cancers and other diseases has been accepted for review by the fda. The drug was approved by european regulators in june. Its up about. 5 . In other corporate news, two key u. S. Senators have facted equifax forness aes about that massive data breach including details about how three executives sold stock after the breach was discovered. Equifax was lobbying about easing up on credit reporting agencies in the months before the breach the press on this does not get better for this company. In the meantime, the proxy file between Procter Gamble and nelson peltz taking a new twist. Many people tell me why not, why not is not the government standard for our company we want why. Who are the right people to bring to the company that would add value for the future hes proposed some things that could be very dangerous to the shortterm, which is reorganize the company right now and hes proposed something very dangerous for the longterm future of this company and that is eliminating our corporate r d. Many of the inventions and the process improvements that serve many of these brands and underpin the tremendous performance and efficiency and value they offer came out of corporate r d and into the businesses were expecting to hear more about that proxy battle today at delivering alpha with cio ed garden who will be speaking in a panel. The vote for that one, october 10th 40 of p g shareholders are retail, which tend to vote on the side of the company, though peltz has presented a case and we went through some of those ideas in the white paper he says every investor he talked to said thank you for pointing out some of these issues coming up, a roundup of todays top stories and the latest aftermath of irma plus, incredible video out of connecticut as a Small Plane Crashes in a parking lot well have the full details on this one when Worldwide Exchange returns. This is not a cloud. This is a tomato tracked from farm to table on a blockchain, helping keep shoppers safe. This is a financial Transaction Secure from hacks and threats others cant see. This is a skyscraper whose elevators use iot data and ai to help thousands get to work safely and efficiently. This is not the cloud you know. This is the ibm cloud. The ibm cloud is the cloud for enterprise. Yours. Global markets moving higher on easing concerns over Hurricane Irma and north korea winding down, irma losing steam as it moves deeper into georgia. And a viral video alert, a small plane crashing in connecticut. And it was all caught on tape. Well bring you the unbelievable footage next its tuesday, september 12th, 2017 youre watching Worldwide Exchange on cnbc. Good morning and welcome back to Worldwide Exchange on cnbc a very good morning to you. And we should say minor injuries were showing that plane crash weve shown it twice in and out without confirming no one was seriously hurt thank god but let check in with global stocks this morning. The dowhaving its best day since march. Dow futures up 51. Nasdaq futures up 13 and s p up 3 points the tenyear treasury note yields, higher yields. Certainly saw 245 in yesterdays session on the back of low yields now the tenyear is up all the way to 2. 15 which is a big jump from where we were in the low 2s last week. Asian equities higher once again today, the particularly the nikkei having a fantastic twoday performance. Last week it lost just over 2 and its gained more than that in the first two days of trait trade this week. Generally risk on trade this week, but also particularly easing concerns over north korea, despite a unanimous vote by the u. N. Yesterday to invote more sanctions well have to see if that prosecute provokes a response from north korea european trade is positive almost across the board. The ftse 100 is suffering because of a stronger pound. The dax in particular has had a good couple of weeks as for the broader markets, the dollar is mixed this morning. It was up nicely probably why you got such a big rebound in the nikkei. The japanese market. The pound is getting strength, almost. 75 on the back of what was stronger inflation data. This will be a predictable for the bank of b england. Clearly its a lot higher than anywhere else in the world. They have athe opposite problem as us, higher he inflation and lower growth youd have to say the next move looks like its going in that direction and hence you have the pound moving significantly higher we hear from them on thursday no change is expected no change is expected, but if we go above three, they may have to hike a little bit now to the latest on irma the storm downgraded to a post Tropical Cyclone bringing moderate rain to part of the southeastern u. S. And tennessee. Ohio valleys. Its expected to weaken throughout the day but look at the destruction in its wake this is a video out of jacksonville, florida. You can see flowing streets and damaging cars. Business and commerce is slowly restarting after Hurricane Irma swept through florida. In tampa, the port has reopened sooner than expected thats why we find Carl Quintanilla this morning those pictures out of jacksonville yesterday were astounding and now the utter devastation of the florida keys. We have the uss Abraham Lincoln today off the east coast providing assistance and then the military is going to send a couple of amphibious ships to the keys where d. O. D. Estimates 10,000 people did not evacuate the keys in advance of the storm. Thats about one out of every eight permanent residents. So a lot of those folks there could potentially be on their own for a while. Power is still a big problem 65 of customers in florida still without power, including us here in tampa thats another million in georgia. As the storm makes its way north, its going to affect a lot of electricity outages at the same time, its blg been interesting to watch the economic engine of florida try to rev up again. We will get Flight Service out of tampa on the highways, interesting, you see convoys of fire trucks as they First Responders try to get back to their hometowns. A lot of bobcats in the streets trying to clear way some of the dead branchs here at port tampa bay, they opened early, as wilf said and they called the Gas Companies and said, look, we have all this gasoline in these tankers here we had to keep the tankers full in advance of the storm otherwise the wind comes through and crushes them like a coke can. So if you want to come and get gas, come on in. The drivers, a lot of them had had already sheltered in place they had to hustle to get back to their trucks, get down here we watched a lot of them fuel up yesterday, big lines of trucks coming in here, getting gas, and then making their way 40,000 gallons at a time to gas stations around the state. Port tampa bay supplies receives about 40 of all fuel consumed in florida so this is a big deal. As you know, sara and wilf, nothing good is going to happen. No utility truck is going to be out on the roads restoring power if it does not have a full tank of gas so these a big story here. One last thing, of all things, guys, nielsen says ratings from the cowboys giants game will be delayed because they had to evacuate staff here in tampa but overall, the economic engine trying to get back to work yeah. Im glad you brought up the ports, carl. Theres so many of those ports that were closed and you mentioned the importance of bringing the fuel tankers on because they rely on that, i guess, through tankers and pipelines. Florida, i didnt realize, its the sixth biggest export state it is the gateway for goods and products that go to south america and central america. Any word on some of the other big ports . Its also obviously one of the biggest cruise areas in the entire world yeah. Its going to be a big story you mentioned exports. Youre talking containers now. And port on the everglades on the atlantic side of the state has a much larger container Business Port tampa bay is largely they call it liquid bulk so they do a lot of gasoline, a lot of orange juice, for instance but even here, sara, they may be putting the gas from the tanks on to trucks, but the ships themselves had to go offshore a hundred miles to avoid the storm. They had to come through and literally scan the water to make sure the channel was safe for a ship to come back in so youre not going to see fresh tankers come to port maybe until tomorrow or thus so the activity they have to be very this has to be done very gingerly because the last thing you want is a giant tanker coming in here, rung over something that happened to fall into the water and then youve got big problems so theyre still trying to be careful. Carl, now that the worst is behind us, and i dont want to down play the tragedy of both of these recent storms, but you covered katrina very closely given how much fear there was coming into both harvey and irma, is there one positive take away that perhaps the death toll wasnt as bad as it could have been given the severity of these storms and does that point to better preparation, that we have learned from the mistakes of the past i think thats dead on, wilf. Whether its public officials, public receptiveness to those warnings, i think people are i dont know, i could be wrong i think theres a mindset going into these things that youre not going to say, oh, i remember the 60s, we lived through that, well be fine. I think that mentality is slowly dying and this was a good example of people who look, it wasnt as bad as we thought, but people are going to be without power for weeks. I think a lot of people are grateful they may have evacuated to, say, georgia or makin or alabama, who knows where but its not going to be easy down here for the next several weeks for a lot of customers carl, thank you very much from tampa ill see you at 10 00 a. M. For squawk on the street. In global news, the United Nations security Council Unanimously approved new sanctions against the country last night against north korea breaking just a short time ago, the north Korean Ambassador in geneva telling the u. N. Conference the delegation condemns in the strongest terms the latest Security Council can resolution the envoy says, quote, forthcoming measures by north korea will, quote, make the u. S. Suffer the greatest pain it ever experienced. So earlier when we spoke to cheri kang in seoul, we were awaiting the north korea response pretty strong words coming from the north korean envoy not unexpected. Not unexpected, but a pretty clear statement against the u. S. In particular and saying that the u. S. Will suffer pain. There we go. Well see if theres any Quick Reaction we saw a Market Reaction not really in terms of any significant moves weve seen today. So kind of no change in the Market Reaction, but strong words from north korea the. And well keep an eye on the twitter in chief, as well. When we come back, matting accountability todays must reads are straight ahead. And as we go to break, european markets are trading higher almost across the board because of a strong pound. baby crying slow jazz music fly me to the moon and let me play bell ring were drowning in information. Where, in all of this, is the stuff that matters . The stakes are so high, your finances, your future. How do you solve this . You dont. You partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. Morgan stanley. So let me get this straight. Youre a rabbit . Im vern, the orange money retirement rabbit, from voya. Riiight. And that means. . Im the money you save for retirement. I help you get organized so your money could multiply. See . Got it. Whos he . Hes green money for spending today. You know, paying bills, maybe a little online shopping. Makes it easy to tell you apart. That, and i am better looking. I heard that. When its time to get organized for retirement, its time to get voya. Into welcome back to Worldwide Exchange. Im wilfred frost. Time now for our top trending stories. Brace yourself, the bachelor nation, the teaser made its debut on last nights episode of bachelor in paradise. It shows arie, the race car driver ander up on the season of the bachelorette, reporting that hearts will race this season just stop and think about that 22nd season. I know its a successful show that doesnt change my view that its unwatchble. Its clearly not unwatchble to many people though i dont know this new bachelor guy. Are you excited god, it just keeps going the other one hasnt even ended. And bachelor in paradise has secretly become the best bachelor franchise out there many of them end up marrying and staying married. Very few. They all end up engaged in total falsesy. Anyway na, weve had this debate before netflix is teaming up with john legend in a big way theyre joining forces to create a music competition show this will be the first talent show ever on netflix reports suggest the show s will focus on r b music it doesnt surprise me theyre pushing into this. Personally, i think the reality music shows are too overdone music competitions are hot right now. Theyre not hot theyve peaked and gone down whether oo x factor and american idol. Did it start here or did it start there . I dont know i think it started in britain first. Anyway, pop idol and then became american idol. Anyway, i dont know if this will be something they can carve out, but its interesting to see netflix push into another area of context and a viral video alert here. One person was injured after a small plane crashed in a connecticut parking lot monday morning and it was all caught on tape look at that video Officials Say the pilot, 79 years old, manfred frost was his name was it . Related to you . Manfred wow. I thought my name was weird, but he was taken to the area hospital minor injuries, thank goodness after that frost says that he was going to breakfast when the plane crashed. Right i wonder is that slowed down a little bit, that video the thing that amazes me is how slow it was travel to go still by airborne. It seemed quite slow to be in the air. Seemed quite dangerous. Manfred frost i am wishing him well, hes all right. Minor injuries. Frosts are built of strong stuff. There we go. Moving on, time for our must reads. Mi my fix on the financial times, Goldman Sachss mystifying entry into the uk Consumer Finance space thats their online lending platform Patrick Jenkins goes through the points which he concludes goldm Goldman Sachss decision to lauren its nascent u. S. Consumer finance operation in the uk defies a lot of logic. Theres a lot of Retail Lending from consumers and the whole question of why goldman is doing this in the first place by doing such a small, small base, a 2 billion loan book in the u. S. Would be 2 of their balance sheet. So its a huge long, long task for them so anyway, he questions their move into the uk sorry i was distracted diana said youre just jealous youre not the bachelor, which could be the case. Can you imagine it would be the worst stil decision of all time i think the girls would love. Do you think i would find true love . Its too fake. I want true love, sara, and i couldnt get it there. My pick is in the new york times. Ek wquifaxs maddening accountability she writes, the equifax executives who let my data bee be stolen will probably suffer less consequences that i will for an Overdue Library book. If if they do get fired, it is likely they will be sent off with millions of dollars in severance, which is common practice and then writes, i would like the to note that i am available for such punishment anytime. Outrage for consumers and others that have watched these studies before in corporate bad behavior and not been satisfied with the accountability i wonder if this one will be different because so much compromising data, like Social Security numbers and addresses were stolen. The hearings are already being demanded on capitol hill lets find out why that stock was sold by several executives, including the cfo after the breach was discovered. They say not a big deal, we didnt know. But there are a lot of questions. A lot of questions. Meanwhile, were approaching the top of the history and were getting ready for squawk box. Joe. Good morning, wilfred where did you go, oxford, cambridge, and now youre teasing the bachelor, 22nd season did that did that occur to you that this is where youve ended up, youre talking about a unfortunately he got stuck with me, back of bachelo nation joe, the very fact that im sitting at this desk beats all expectations regardless of the path, so im happy to take the small and i do think the bachelor is an appalling show so i dont love talking about it, but im happy to take the tough with the wait a minute, so you didnt choose that story as sort of a here i am bachelor producers just to plant the huh month seriously im trying to get him to audition he refuses well, the big problem, of course, as youve explained to me, sara, you cant be the bachelor until youve been a contestant first no, you can really . Oh, no, no, you have to fight for a booch lorette. No, id jump to the round where its just you with a team of girls you cant be i cant be bothered with the first round. I dont know where to start with delivering alpha, what a lineup there. We have a show to do first but its combined with delivering alpha because we have treasury secretary mnuchin. Before that, we have mark lasry as a guest host. This guy is i know President Trump says hes the king of dead, but lassry knows a bit about debt, too. Senator dave pure dye due due i. Then one of the lineup for the rest of the day, jamie dimon, theres the lineup, steve swartzman, i just wanted to show you i could do that. Anyway, its going to be great schwarzman, dont forget him anyway, thats it. Kicking it off with treasury secretary ma mutualichnuin thank you so much. Stick around, Worldwide Exchange will be right back for your heart. Your joints. Or your digestion. So why wouldnt you take something for the most important part of you. Your brain. With an ingredient originally found in jellyfish, prevagen is now the number one selling brain Health Supplement in drug stores nationwide. Prevagen. The name to remember. Welcome back were still talking about the bachelor here but were going to move on futures point to go a higher gain almost 50 points higher at the open for the dow joining us, chris rupke from ufg union bank chris, good to see you this morning. Thanks for joining us. Is the main factor behind moves down last week and up this week been related to north korea or is it other factors . I guess so. Its almost like the market was faced with everything but the kitchen sink i think everyone was watching the hurricane watch myself as it was coming into florida. Yeah, it was anyway, nice to see it up 11 for s p aer record high. Wakd be wrong with the economy yet it still is this teflon market, whether its expectations over a hurricane and the Economic Impact or north korea this by the dip mentality. Does that Say Something about where we are in the cycle, in the economy, fed policy . I dont know. Maybe its more passive investing. You know, i mean, you have that alpha conference coming up, but it seems like most people, they dont talk stocks as much as they used to, individual stories that are all in these indexes. Myself, you know, im putting money away every month in these indexes. Maybe thats whats driving it higher index funds yeah, index funds, yeah what factors are you looking at, as well, as to whether those indexes move higher or lower in terms of Asset Classes bond market, dollar, theres been big moves in that, as well been do you think those correlations are strong . No, i dont care its driven, you know, on Interest Rate policy from the fed versus europe, for instance anything like that i think its you know, the basic idea is that Companies Still know how to make money earnings are going to go up 7 per year as an economist looks at it and that drives, you know, prices and stocks. Very quickly, less than 30 seconds, were going to get retail sales data at the end of this week. Are we going to start to see the harvey data and the consumer yeah. Its starting to hit Hurricane Katrina jobs were up 190 and then they fell 35,000. Were going to get a brief hit to the economy thanks very much for joining us great to see you as ever. Chris rupke there. Huge day ahead with delivering alpha. Squawk box is next. Amazing honky tonk . . I cant believe you got us tickets. I did. I didnt pay for anything. You never do. Send me what i owe. Ive got it. I mean, you did find money to buy those boots. Are you serious . Is that why you dont like them . Those boots could make a unicorn cry. Yeah, tears of joy. The bank of america mobile banking app. The fast, secure and simple way to send money. What about that rally yesterday . And futures extending it this morning. A higher open on wall street, a day after s p 500 rally to a record close apple is set to unveil a new version of the iphone today, but can the Company Deliver for consumers and investors . Theres already lines. Im surprised youre here. 1,000 plus, delivering alpha a mustseen event for investors today and were bringing you a front row seat its tuesday, september 12th, 201. Squawk box begins right now. Good morning, everybody. Welcome to squawk box here on cnbc im becky quick along with joe kernen and andrew ross sorkin. We are live from the pierre hotel in new york city this is the sight of todays delivering alpha conference. It all kicks off with our special occasion with treasury secretary Steven Mnuchin make sure you set your watches and just in case you dont have a watch to set, dont worry, well count you down right here. Were tracking the destruction from Hurricane Irma. We have more on that story in a few minutes. But first, lets take a look at the markets this morning u. S. Equity futures are extending the rally from yesterday. Right now, dow futures indicated up by almost 50 points
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