Economy likely added 225,000 jobs last month. That would mark the second straight month payrolls increased by 225,000. We havent seen a stretch that long since 1997. The Unemployment Rate expected to slip to 6. 11 . Futures ahead of those numbers and, of course, things can change dramatically in the morning. But right now, we have some red arrows with the dow, it opened down about 41. 5 points. The s p 500 would open off about 6. 5 points and the nasdaq would open off about 9. 5 points. Again, we will those numbers doing a lot. Almost like a discount before we get to 9 30. There you have it. You know, i see things that were looking forhe the brothel, its in usa today, this just in, brothel owner helped seal nevadas tesla deal. Lance gillman is the owner of the famous Mustang Ranch brothel. You thought that was a ford dealership, right . No . I was just asking if they had you know, yesterday you said nevada so well. Nevada. Did you check . I had to practice. For somebody because i like to say nevada. For some reason, new yorkers, when they say nevada, they said more just more nevada. And out there, its nevada. I have to say, i always its nevada. Dont be pretentious for once. I did a show out there from los angeles. I asked around. There were a couple people who said nevada. Of course. Does this work . Yeah. Really . We love him, but beautiful, pretty in blue. Pretty in pink, pretty in blue. In corporate news, apple is add accounting stricter security measures. Why . Does this fly counter to everything . No. All right. Its a goal of keeping hackers out of your account, comes in the wake of last weekends celebrity photo scandal. In an interview with the wall street journal, apples ceo tim cook says the company will alert users when someone tries to change a pats password or restore icloud data to a new budget. It seems to me if theres absolutely zero culpability for apple itself, then why are they worried about well, because there are always things you can do better. Okay. Shouldnt they have done these things before it happened, then . Perhaps. I dont even have a beef with apple or tim cook. Im just giving you grief because you defended them i did, i defended them. They went all crazy with the pr, that this wasnt us, now here is what were doing, but i give you credit for this. When did you oh, yeah. When you get into this . Wow. Im not in the stock. I want to see what the iwatch looks like. Now theres reports that its really going to show up. You do know this is the same company that raised higher taxes. I do. How does that escape your wrath . Im not happy about that. Positively in america. Thanks, allen. Apple isnt the only was it him . Was it allen . No. Andy silvris. Apple isnt the only company dealing with Cyber Security issues. The journal reported a hacker broke into the healthcare. Gov website in july. No reports that users personal data was stolen. Also, the government wants to declare metlife systemically important. The insurer is said to be exploring ways to try and fight the governments proposal. That label is used to ive Companies Whose failures could pose a potential threat to Financial Markets overall. Prudential financial and iag have already received that designation and its obviously one that any company is trying to avoid. Did you see this . And i didnt understand this. I understand why the company would be against this and i think its actually reasons why the company may be right. Gu guggenheim security saying despite the possibility of this happening, we think this is a longterm positive for metlife because we expect the government to the rules rather than subject metlife to banklike capital firms and customers would prefer to do government with abdomen an insurer that the government said is too big too fail. I wonder if that is the case. Would you decide that you want to do with that institution as opposed to one or the other . If there is a separation between them, i might. Id want to be sure, if there is a claim, if theres a lot of claims that come in at the same time, im going to get my money back. As andrew was mentioning, the futures are indicated lower, at least at this point this morning. Right now, the dow futures down by about 43 the points. Of course, yesterday we did see the s p and the dow both hit record highs interdate before they retreated. The down was down about 8 points. The s p off about 3 points. This is the first weekly decline in five weeks the major averages are on pace for at this point. If youve been taking a look at oil prices, at this point, oil up by about 49 cents. 94. 94. Wti is still below 95. Hard to believe with all the turmoil weve seen in the middle east. Lets take a look at whats been happening with the tenyear note. Treasuries, the yield pushed higher to just under 2. 45 . The dollar at least at this point looks like it is down against the euro, down against the yen, down against the pound. The euro is trading below 1. 30. 1. 2956 after the big move you heard from the ecb yesterday, taking on these additional measures. That immediately put additional pressure on the euro. You see thatten continuing at least still below 1. 30. Theyve tried, theyve tried to get the euro more competitive. Yellen and the fed here keeps making it impossible by staying easy for way too long. Maybe theyll were going to talk europe and i was surprised, it was my i thought i contended yesterday that europe would be scared by what they did and that we would like it because were easing and they have down in europe and and if you think about it, were done offer here. Were on the other side of all this stuff. So our markets know that. Over there, theyre on the front side of all this easing money. So if its just a simple usually its the opposite of what but if the following is but its the most important way of looking at it. Theyre entering into an easing money phase. Were coming out of it. We think were on the end of it. Theres worry that theres something really on the end of it. Well get more numbers today with the jobs number at 8 30. Take a look. Seema is still there. Still here. Shell do anything to get on squawk box. Thats not necessary. Anyway, no reason for you to do that. You could come off an angle. But anyway this is better b right . We have the global coverage. As you guys were mentioning, European Markets, the speculation of a ceasefire between ukraine and russia as well as that ecb rate cut decision. Feeling pressure over the last few days, but profit taking. Weve got to take a look at the markets, getting a lift on hopes of a resolution between pro russian separatistes and ukraine. Keep an eye on the russian markets. Guys, traders are talking about, as you were just pointing out, i was at a dinner with mayfair. No one was talking about mario draghi. The focus is the impact of the euro dollar trade. After the ecb rate cut decision, currently trading below 1. 30. Why do we care . A weaker euro is not good for Multi National businesses as it makes their products and Services Less competitive. Some of the big names that have high exposure to europe include mcdonalds, priceline and all trading lower. Lastly, we want to highlight a big mover on this side of the pond and that is bp after a u. S. Judge ruled they were to blame for the Largest Oil Spill in u. S. History. Today, coming back, trading at 4600. Thank you, seema. I have to look at a different camera. No one told me about this. We are you guys ahead to do this yet . Once in a while. Making her squawk debut, well start out calling this person karen paulstone. Can you stick with us for a while . All right. Our you know, put au orias. Sometimes the pronunciation is tougher than if they just wrote it down. This is res asset management. The ceo. Oh, man. Hooked on phonics, he need all of it. You start. It was easier when it was fidelity. Phid the upside down el. Whats your number today . I think anything over 200,000 is great. 220 is wonderful. What i think is most very important is that we start to see some wage growth as well as jobs growth because wages have been so staggering for the past couple of years. And retirees on fixed income and relying on Interest Rates, theyre purchasing power is going down. We live in a consumer economy. It would be great if we get we had a you know, a mouthpiece for the administration on yesterday actually talking about how there is wait a second. Who did you just call a mouthpiece . Its not me. Anyway, i like dean, but he is theres so much black. They want us with the spigots open forever, so theyre going to argue there is total flack in the workforce so were not going to get knit wage growth as long as theres slack. Well, there are pockets. I agree. I think that there are you cant even find people without paying them more, right . That would be good, though, right . Right. This means that the fed connects it, right . I think its good for everyone. You see what im saying . Is there slack or not . I think there is a lot less slack than the fed believes. Although i have to say, all of this discussion about how much slack there is, i mean, obviously, at jackson hole, we spent all this time talking about the longterm unemployed or involuntary parttime workers, lets face it, if we were i keep saying to people, if we were trying to debate if they should be 2 1 2 or 3 1 2 or 4 1 2, slightly accommodative, slightly restrictive, this kind of fine tune it exactly how much slack there is would be important. We are hundreds of basis points below the neutral level. At zero i mean, i dont know exactly how much slack there is, but i know that there isnt enough slack to be, in my opinion, justified still sitting at zero Interest Rates. And you mentioned flavors. What about why are all the states pension plans, why is everybody having trouble about meeting their targets. So, you know, thats the flip side of trying to get asset valued higher. You dont want to take any risks. If you were the guy managing the massive pension fund right now and should we be moving into that. Whether it is the other parts of this, of the credit markets that look very overheated. I would say, the concern about part of the problem with business, the one linger g lingering, i think, uncertainty is that what happens when the fed actually starts raising Interest Rates because the fed is going to keep telling us we have to be we need to provide support. So i think what we talked about, fiscal uncertainty has been reduced. I think theres greater composite about the economy. The one thing thats still out there is what happened when the fed starts raising Interest Rates. In a way, i think if we get off zee rob, get the process started and we all say how many board room conversations do you think right now there are boards sitting there saying, you know what . I think Interest Rates are going to jump. We should do something now or this is whag goes to happening. Do you think that is the thought process . We may be having that conversation. Im not sure if theyre having that conversation. I think there is some concern that things are doing well, but what happens when the fed starts raising Interest Rates . I guess all im saying is theres a lot of concern about this moving process and in a way just getting it going, while people are worried about that may ultimately the yields are worse. Right. And they actually do. So do you think this europe is easing or tightening and yellen will will the euro continue to fall because we make good on our promises . Well, i think inflation needs some help and growth sitting there is were starting to see growth in the u. S. Manufacturing is doing better. There is improvement. I think the same is probably true in europe. Were missing right now the situation where when the s p opens that 19 the 8 is exactly three times where it was since 2009. Its tripled during that pertd which has been an amazing thing. And it shows that there are buyers b there have been buyers of our market, there have been buyers of the European Market over the past year, starting to come back to reflect something thats improving. But its a slow process in part because, as you said, unemployment has become so structurally embedded. Michelle, is your office down here . No. Were up in stafford. So coming here is easier, harder . It may be easier because ill be heading out of the city. Ill mark you down. I dont know. Ive got a lot of people who get up an hour earlier. Who wouldnt be very happy. You havent been out there . I have once. Better . Better. Okay. Lets tell you about a truly sad moment in the entertainment world. Losing another legend, comedian joan rivers passing away at the age of 81 years old. She got her big break on the tonight show with johnny carson. She was a member of the comcast family. She was the host of fashion police. She recently suffered a heart attack during a medical procedure. She was on life support for a week. New York Health Officials are now investigating the center where rivers recently underwent surgery. It was called yorkville endoscopic something or other. I read it yet. Then she went to mt. Sinai. Her faim family praised the treatment she got at mt. Sinai. Whatever happens, i think there are you know, its a very simple procedure, really. It was an endoscopic procedure. She was on when i did that with the apprentice, the judge, she was one of the contestants. She was very sweet in person. I met her once out at we were both out and she was there. We were out and staying in a hotel. She was very nice in person. Anyway, we wish her family all the best. When we come back on squawk box this morning, elon musk setting up shop in the desert. Details of teslas giga factory coming after this. Stick around. Well be right back. Ing deeply ] [ inhales deeply ] [ sighs ] [ inhales ] [ male announcer ] at cvs health, we took a deep breath. [ inhales, exhales ] [ male announcer ] and made the decision to quit selling cigarettes in our cvs pharmacies. Now we invite smokers to quit, too, with our comprehensive program. We just want to help everyone, everywhere, breathe a little easier. Introducing cvs health. Because health is everything. Tax inversion. This is made up of ceos that made over 1 million in capitalization. Over 70 of them said tax inversion are good for shareholders. Nearly 60 said Companies Using tactics like this are not acting in an unpatriotic way. 82 believe their firm is not being taxed fairley in the United States. For more on all of this on our global cfo council, go to cfocouncil. Cnbc. Com. Im surprised that it would be 40 who would think that it was. You talk to individuals, and i wont mention any names, we talk to individual ceos about their individual situations and theyre furious and livid and theyre very plain spoken and they say its a billion dollars more for me here. Now, when im compete, a company that says the same thing abroad, and they have a billion dollars extra to spend on research or whatever it is that theyre spending it on, how is it that the roads here are better than the roads in switzerland . How is it that the college tell me how, when the president you get to use all of stuff here, which by the way taxpayers paid for, the government didnt pay for that, theyre im not going to argue about however, listen, we can change the law oh, good, thats big of you to admit that. However, clearly, a drug company, for example, like novartis i am making this up. If they are going to sell to markets in this country, there are benefits. We do all sorts of things that other countries just dont do. Medicare and medicaid with no price control. It shouldnt be price controls. Thats my point is, there are benefits that the Foreign Companies are getting and frankly that but the Foreign Companies are and thats why we should change the laws. But my point is they can do just as well. But in those other countries, those guys are paying much higher personal taxes. Which is the way we will solve it here. And by the way, in some cases, not Corporate Taxes, but locally. Youll see sandy everyone goes to zero. So if youre crying to save 20 billion over ten years instead of bringing back 2 trillion right now and not having a capital outflow. And a bigger problem, i think, is that it makes American Companies more attractive to foreign personnel. And thats true. So it could come in and acquire that makes more capital. It doesnt cost anyone. But one thing we always forget in this conversation, and then we have to get to the next topic, one of the reasons the capital fight gets tougher is because they look around and go where is the real growth . Not necessarily here, in all fairness. There are other countries where theres going to be more growth. And i would anterior more. They also if he does anything else. Labor is cheaper. They build it over there and they dont like theres all kinds of solutions. We shouldnt be greasing the skids to make it happen and make it happen more quickly and make it part of the reason someone does that. We dont think private sector in the white house. They dont. They think redistribution. They think government is the answer. They dont think private sector. Thats the problem. To this day. We are going to move on to darchbt topic, your favorite topic that involves tesla, it might involve brothels, joe. And also nevada. Elon musk unveiling details of teslas gig da factory deal with nevada and phil lebeau joins us now from carson city. Good morning to you, phil. Good morning, andrew. Theres a debate today about how much nevada is paying to land the giga factory. Theres no doubt this is a huge factory. It is coming at a cost and a lot of people are saying is it too much . Here is the announcement that came late here in nevada. Tesla will be building its giga factory, its a 5 billion project. It will be located just outside of reason yo. What will they be getting . 6,500 jobs when the plant is up and running. The estimated economic benefit according to nevada, backside 40 billion directly. Indirectly, another 60 billion. Theyre saying 100 billion. In exchange, the nevada state is giving incentives, tax abatements, etcetera, at between 675 million and 1. 1 billion, adding a few other benefits and its probably coming out closer to 1. 25 billion. Tesla says that money is critical to getting things up and going to the giga factory. It will be 3,000 jobs immediately. We went out to the site yesterday. Theyre already moving ground out there, getting things prepared for the giga factory. They expect the plant to open by 2017, possibly by late 2016. Elon musk, last nigh