Nasdaq had its ninth positive month out of the last ten. The worst performing sector, energy not a surprise given wtis performance, down about 6 thats the worst month for wti since march. As for the year so far, the nasdaq is leading the way. Its up more than 19 . The dow is higher by 11 the s p 500 is up by 10. 4 check the global markets. Things were kind of friendly in europe not much happening in the asian markets. Japan and the hang seng and shanghai european equities were more positive a half percentage point gain in average in most of the bourses look at the dollar got over 1. 20, back down to 1. 19 the tenyear, 2. 13 do you go straight do you have a gauntlet from your house to your car . Do you get in a garage do you know, it felt like fall was 55 degrees. 56r7b8g 55. Realfeel 50 i walked out in my sleeveless dress, grabbed a sweater came back out. Theres some leaves around. Rustling a bit. That went fast, didnt it. Way too fast. We still have this Weekend School starting we do. You cant stop it no. You can, thats not a great alternative. Ill take the change of seasons. Lets look at Energy Prices crude oil prices under pressure. Weve been watching this play out in the last week or so with the backup of crude supplies, as those refineries have been shut down wti down by 1 for the month of august down 6 . Gasoline prices have taken off because of the refinery shutdown, 23 to 25 of the refineries shut down that has led us to that spike that youve seen in rbob for the month, it was up by more than 14 there was a contract that rolled if youre looking at the contract, you can see numbers up higher this is all playing out to increase prices at the pump. By some estimates gasoline polices may climb by 5 cents a day over the next several days lets get to the day ahead on wall street. The labor market will be front and center the august jobs report is out at 8 8 30 a. M. Eastern time nonfarm payrolls are expected to be 179,000. The Unemployment Rate will hold steady adp came in this week a little unexpected well see what happens also plenty of other Economic Data out there the august ism Manufacturing Index hits at 10 00 a. M. That comes with Consumer Sentiment and july Construction Spending also dont miss the first on cnbc interview with President Trumps top economic adviser, gary cohn. Thats at 9 35 a. M. Eastern time on squawk on the street. Kayla is here. She came up on the train i flew here on a plane. Back from vacation. Boy, are your arms tired if you didnt use a plane yes, you can see the muscles. Round two of nafta negotiations kicking off it seemgs li s it seemgs lieems like you wa talk about Something Else. Offcamera i was needaling y needling you about comey according to grassley and the the chair of the judiciary. Did you see this Washington Post piece . Yes theyre citing confidence privately fretting about supposedly President Trumps moves, but its not as freewheeling as it used to be kelly has things running people cant come in and out and talk about things. Supposedly he had to deal with north korea, deal with this, deal with that, deal with nafta. A lot of work they want to establish hierarchy. 15 sources is what they site in that piece. 15 people still there walling the Washington Post at this point. Depends on how you define confidant, someone inside the white house, outside of the white house that he picks up the phone and talks about these issues thats probably it. Unclear well, okay. Lets get to policy. This is a Business Network nafta matters. It does dreamer stuff, do you have any inside information we are still waiting. The white house wouldnt comment on when they hope to conclude a review of that or what the policy will look like. Fox news yesterday reported that the president was seeking an ent to t end to the program the president has been talking so much in recent weeks about his desire to just withdraw or scrap it altogether if the talks dont go the way he prefers. Mexico has been calling the president s bluff to a certain extent on that the foreign secretary of mexico was in washington on wednesday he said if the president stays tough, well stay in it but they will refuse to negotiate with the United States. They have been getting partners from asia, trying to find other ways that if this falls apard, they have a backup plan. There is preexisting trade text that canada and mexico can rely on and existing relationships that they have not broken down. They can lean on them to def at leverage against the United States i want to play you what president said this week about tax reform which has leaders of business feeling concerned about the future of nafta. Working right now on nafta. The horrible, terrible nafta deal mexico is not happy. As i told them, you made a lot of mron fooney for a lot of yea, everybody left you alone we have to change this deal. We have to renegotiate this deal if we cant well start over with a new deal. Randall stevenson of at t, you can see him there with kevin brady. He questioned what a withdrawal for nafta might mean for his 7 billion investment in mexico so Many Companies have crossborder investments, and they dont know how that will play out floor par for that part, canada and mexico are the top trading partners with the u. S when asked by cnbc yesterday about the impact on the u. S. Economy if the deal were ditched, treasury secretary mnuchin said renegotiations is the preferred route. To that end Rex Tillerson continues to meet with his counter part the president is on the phone with Prime Minister trudeau. Its unclear how much this public bluster translates to the career officials who are negotiating the Details Behind the scenes its interesting you bring up at t because of that major invest they made in mexico, that was because they felt they couldnt get a fair shake in the United States with the Obama Administration i was going to say, if you were randall watts, you would be like wow i got the Net Neutrality stuff thats great for me. The reason i went down there in the first place is because i didnt want to invest here the Trump Administration reverses that, thats like a ben franklin close thats a positive. Geez, i have not heard trump say i hate big mergers between big media companies. Recently. Recently, not since the campaign trail everybody at this point thinks at t and time warner will happen he said he would take a closer look, but that was a few months back. 7 billion is a big deal, but i think about the other two things this gets to the point of Business Leaders wanting continuity in terms of what they can prepare for and plan for you cant hand trump a wish list if youre Randall Stevens saying i want every one of these things every sector has a different wish list. Theres a cog nnizant dissidenc. Oil and Gas Companies are shaking in their boots about a potential rewrite of nafta because its been advantageous for them farmers dont want nafta to be scrapped, just made more beneficial another piece says fruit and Vegetable Farmers in florida have been outpriced by the cheap Mexican Fruits and vegetables flooding the market here you have all of these stakeholder horse have different views. Every little lever each calling their contacts in the administration. Ill trade you a Net Neutrality and a time warner merger for a nafta any day, i think. I dont know i dont know the details the problem is its so complex. And a tax reform. And other deregulation pmi your battles. We always hear from ceos. We just want to know what the rules of the road are. When you have such different administrations, you will see huge things. Well see what happens cant win them all. All those ceos really wanted is an invite to pebble beach, to the at t except they dont want anyone to see them, because they might be good at golf or they may be bad at golf. I would think you guys would want them to be at pebble beach, too. We would. Theyre afraid to come on, because someone may see them but its 3 00 a. M. When theyre on kayla, thank you. Great to see you guys are you going back . Do you feel are you drawn back down there . Does it feel good to get away. Im from the south. No the beltway, i mean. Within that how frrific area, w the fake news swirling around. He gets a rash when he goes there. I do get a lot of mosquito bites. Right its a swamp, right . Youre in those its like monkeys throwing stuff at people youre in some of those press conferences. All the time. Jim acosta, all that stuff, arent you there watching firsthand . I have been there a circus. A lot happening a lot of news. Theres a level of political theater on both sides. Does he have his own show yet, acosta . I dont know. Lets get down to texas for an update on the hurricane Recovery Efforts scott cohen has an update on the refineries, first to Contessa Brewer in houston. Good morning reporter good morning. Harris county in houston estimates 136,000 structures, 10 of those overall have been damaged in some way by harvey flooding along the Buffalo Bayou, you can see mountains of housewares piling up. Friends and family are pitching in to rip out drywall, rip up flooring and get it clean up rebecca rivera, a woman i met in the anybodihood, just bought her house last month like 80 of the harvey victims, she doesnt have flood insurance. Core logic analysis is estimating that there could be un up to 36 billion in residential losses because of harvey flooding what were hearing from Insurance Adjusters that perhaps before going in and throwing everything out that people need to be sure they can document as proof for their insurance claims and for fema relief what they actually owned inside. Theyre warning people not to be too aihasty in an attempt to get their houses cleaned up. Apparently the damage is so severe that houston postponed the start of school until september 11th thats two weeks after its original start date. A lot of businesses are getting back, opening up doors certainly for the broader houston area it is not business as usual fema saying you have to document these things, take your time getting everything out, at the same time just the reality of living through Something Like this, having lived through sandy here, you have to get that stuff out as quick as you can, otherwise you risk the mold factor making everything like a complete teardown on those issues the complications, how long this will take, how painstaking it is, youre highlighting it in an excellent way. This will not get fixed any time soon there are no good answers no matter which way you look at it. Its true i survived sandy i remember the rush to get in there and rip it out what i did, we took a video camera and recorded everything with you in it, that way there is no doubt its your stuff n your apartment just bit from my own personal experience as you can see, theres a lot to deal with here you know one really grade thing happening tomorrow night is the astros are going to play in houston returning to minute maid stadium to play the mets they should win probably they were leading the American League also. We have jim crane, the owner of the astros on the show later today. They also just acquired justin j verlander, mr. Kate upton. I met him on a driving range moments like that, those are great to watch its like the storm its not lifting, theres a long way to go but you get a sporting event like the astros coming home and the businesses need it. Yes that would be a great moment all these restaurants theres a church across the street from minute maid stadium that says go to mass and a ball game its been a ghost town around here, so they need Something Like that. The streets are largely impossible just a block from where im standing, the Buffalo Bayou is still flooded. Little pockets are still struggling then the larger Houston Business Community is like bring it on. Lets get the money back flowing. Lets get people out to eat. Theyre asking yesterday i talked to a guy up the street here who works in the oil and gas industry i said whats your message for the larger Business Community . He said we need your investment, we need your money support houston business right now. Contessa, thank you very much. Lets get to scott cohen standing by in baytown, texas. Scott . This is the giant Company Mobile baytown refinery. Over my shoulder here is another good sign. You can see the flame burning. When you drive here before sunrise, you drive past a lot of refineries, a lot of that flaring. Thats a sign generally that theyre trying to get the refineries started again for now this is out. Heres what theyre dealing with look at the pictures from during the storm and in this general area torrential rain theres a we saw. Almost biblical rains that flooded a lot of these refineries out heres the result. About 20 or more of the nations Refining Capacity as of yesterday was offline, including the baytown refinery also the one people are concerned about, the largest refinery in the country, the motiva refinery in port arthur, that area still largely under water. They dont know when theyll get that started again even as other refineries do try to get going here is Energy Sector and former Texas Governor rick perry. This is about the refining end of it. Cant get product in the refinery, the refineries are not online either because of flooding, because of leng cal p power. I dont know how long it will take to get those back on. Heres the problem,not just in houston, theres concern, rumors floating around about shortages because of this talk theres lots of gas lines, but Officials Say theres ample supply but what were seeing, prices are going up that may continue as they try and get out of this. Now, there are other stories were looking at as well when you think about infrastructure in crosby, texas the arkema plant where the first of the fires from the chemical that needs to be kept cold thats not anymore, the first of the fires burned itself out yesterday. There are more fires to come and more fires for the company to fight they have a news conference, a teleconference scheduled for later today. Theyll be asked a lot of questions, we would think, about what their plans were, response plans were, and why this company was lobbying for easing of regulations or delaying of regulations about what chemical plants should report, they were successful in that effort. Dont know if it would have made a difference up in crosby. A lot of questions for arkema and 200 people are still out of their homes. They dont know when theyll get back scott, as you were talking about that, eight more of these chemicals, odds are theyll all go up in smoke theyll have these mini explosions because they cant get in and stop anything a lot of questions about how dangerous those smoke plumes are and where they travel to the epa has been doing air testing. They say its not dangerous anymore than basic smoke one of the other issues is its not just these peroxides stored there, there are other chemicals there. The company says the ter rox sides were stored far from other chemicals that might be toxic or dangerous if they caught fire and released supposedly none of that has happened haif been doing f theyve been doing flyovers, and nobody has been able to get into the plant and theres the hazard of fires. So a lot of questions for this company to answer. Scott, thank you very much. A programmi inming note for, at 8 50 a. M. Eastern time, we will talk to Houston Astros owner, jim crane the team is coming home to play a series at the request of the governor jim crane, 4 million of his own money for relief. Coming up, job prediction. Well tell you what to expect. And later hiring trends with tom gimbel from Lasalle Network. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. Anso shouldnt we get ourde inphones and internete. From the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. See how much you can save. Choose by the gig or unlimited. And ask how to get 200 off the latest devices. Xfinity mobile. A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Welcome back the countdown to the august jobs report is on joining us now to talk about jobs in america is michelle girard, chief u. S. Economist and managing director for Natwest Markets and anthony chan from chase. Good morning are we thinking this will be a strong number again . Its been the trend. Adp better than expected august can sometimes be shaky. How do we add that up . Weve come off of two very good months. I think some of the reason we saw the strong numbers in june and july above trend was the fact that we had an influx of additional labor supplies as people were coming out of school, graduates looking for work, companies are so hungry for workers, they keep telling us we would be hiring more if we could find the workers the last couple moptds th monthe had the workers, and thats been absorbed not beca