Ends up being routine. We have become numb to this. Experian is hit by a data breach that could effect 15 million customers that signed up for their service sending shares lower in london. Sprint banks on job cuts to help the wireless carrier cut up to 2. 5 billion in costs according to a memo seen by the wall street journal. All right. Quick peak at u. S. Futures and what were expecting today is a slightly higher start to the trading session. The s p 500 taking fair value into account seen up by 7. 5 points or so and the nasdaq expected to open higher by 22 points or so. This is after a mixed close in yesterdays trading session. The dow was off by a fraction but the s p and nasdaq managed to eek out a very modest gain. The weakest since 2013. The dow is down nearly 2011 points but as i mentioned we closed a little bit higher than that. Dont let the party go on too long so says San Francisco fed president jon williams of the easy policy which Central Banks are due to start reigning in. Williams said policy makers did not need much more data to make a decision and said if todays job growth was above 150,000 that would be, quote, good. Lets tell you what were expecting from todays number. What clues will todays nonfund payroll report prove for investors looking for answers from the fed . 200,000 jobs were added in the month of september while the unploilt rate is expected to stay steady at 5. 1 . Some are hoping for signs of a rebound after employment growth in august came in at the slowest rate in five months. It comes on the back of a solid adp report. The strongest reading since june. As has been the case through the recovery, the Services Sector lead the way taking on 188,000 more employees. Construction hiring was also the best it had been since february 2006. But the big drag was the Manufacturing Sector shedding 15,000 jobs. Able lists pointing to the stronger dollar and weaker International Economies for the worst reading since december 2010 in manufacturing. So were waiting once again for another jobs number and once again trying to draw from it whether well see rate hikes soon after or not. But i have to say, the momentum is what we have all been looking at and that has been very strong all year and it wasnt enough for a hike in september. So i dont think this print itself makes a difference. I think i would actually have to agree with you for once, actually. Absolutely, youre right. The jobs picture is pretty solid. 5. 1 . Any central bank would dream of that number. Plus 200,000. August was a little bit of an outlier. So thats one of the key things to look out for. Wages also fairly important. Not super important but pretty important. Were expecting a number year on year of 2. 4 . That would be the fastest pace since 2009. But, whats the more important factor for the fed . International developments and thats why they didnt hike in the month of october. Indeed. Janet yellen and co, they dont want to hike too early and go down as the central banker that derailed the recovery and for me i agree its International Situations adding to their fear of going too early but i dont think its global growth. I think its what they fear will happen in other banks. European central bank but china. Is that about to ease. Do they want to be hiking the fed and see the dollar shoot up off the back of that . I dont think they do. You might be right on that front too. Interesting look at currencies this week. The dollar has been very much range bound against other currencies even though some of the commodity related currencies lost a lot of steam. A lot of people say once we do get a better than expected number. A very strong number today it might not be the reaction of the dollar that were going to be seeing. It height be the much bigger reaction in the Commodity Currencies. Thats a good point to make on the currencies because the volatility continued in equity markets very much over the last month or so but major Currency Pairs for the last couple of weeks have been broadly flat moving around a little bit but the volatility hasnt been there and people are quite comfortable. Treasury yields as you see that yesterday. Indeed. Yeah, five week lows. All right. Lets move on and lets talk a little bit about glencore Commodity Trading and mining giant glencore is licking its wounds after a tough weak but moving ahead with its Debt Reduction plans. Kate kelly has new information on the story and is outside the london office. Kate. Hey, carolyn. Thank you so much. As you know, as you just eluded to its been a tough week with shares hitting an all time low. The highest since its ipo. They have been working to convince the market and convince investors that theyre moving ahead with a 10 billion Debt Reduction plan. A couple of details in terms of the asset sales theyre planning. These are by product associated with two mines in peru. Thats moving ahead nicely from what im told and they expect to announce a deal as early as october in the next couple of weeks of a billion dollars and a bit more than that. Theyre also actively working on a agribusiness sale. Unclear exactly what the price of that would be but if you figure on a 10 billion multiple which is what analysts and others have talked about it could be in the low billions of dollars. This is on top of suspending the dividend and taking other measures to reduce their debt t. Goal to get the net deal from 30 billion earlier this year and 20 billion by the end of the year and more in the year or so to come. Now the ceo seeking to reassure employees. On tuesday evening he set out a note to staff noting they had a week but saying their Liquidity Position was very robust and saying they didnt need to access the debt markets again given their current debt stuck tour hoping to offer reassurance. That same note has been struck in terms of a meeting this week held here in london with with creditors and some people feel reassured. One thing people are pointing to guys is the short pressure in the stock. Theres at least two hedge funds that disclosed substantial sort conditions. One is a London Hedge Fund and the other is a west coast u. S. Hedge fund called Passport Capital but whether or not theyre going to let up is clear. So far were flat. You talked about potential asset disposals. Theres a lot of concern in the market that these asset disposals would happen at fire sale prices. Do you share that concern . That of course is the concern. So far im not necessarily hearing that. It sounds like theyre going to take a little bit of time on the agribusiness sale. Not loads because they do have this aggressive Debt Reduction plan but its a First Quarter event from what im told. The bigger question is whether they end up having to sell the entire grains business because theyre under such pressure to get their debt down dramatically. Now you look at cds, credit default swaps and other measures of market sentiment. People seemed to be quite concerned but if you look at the balance sheet, it would appear they have pretty solid financing. They have a bank involving credit decision of about 15 million. They have undrawn liquidity lines of 14 billion. They have letters of credit to support their trading business. Much of which is done in this building behind me so a lot of different elements that would seem to have a relatively stable balance sheet. Thank you for that great work there. Moving on. Authorities in oregon have identified the gunman in thursdays shooting t a Community College as 26yearold chris harper mercer. Nine people were killed and several injured before mercer was killed by police. He demanded victims state their religion. Thoughts and prayers arent enough as the country responds to another mass shooting. Somehow this has become routine. The reporting is routine. My response here at this podium ends up being routine. We have become numb to this. The president is challenging americans wanting to deal with the problem to vote for elected officials who could do something to change u. S. Gun laws. Okay. Still to come on the show, the vw emissions scandal isnt going anywhere with prosecutors in paris now getting involved. We break down the latest developments, next. Can it make a dentist appointment when my teeth are ready . Can it tell the doctor how long you have to wear this thing . Can it tell the Flight Attendant to please not wake me this time . The answer is yes, it can. So, the question your customers are really asking is, can your business deliver . And im jerry bell the third. Im like a big bear and hes my little cub. This little guy is nonstop. Hes always hanging out with his friends. Youve got to be prepared to sit at the edge of your seat and be ready to get up. Theres no deep couch sitting. Its definitely not good for my back. This is the part i really dont like right here. doorbell whats that . A package its a swiffer wetjet. It almost feels like its moving itself. This is kind of fun. That comes from my floor . Eww this is deep couch sitting. Deep couch sitting welcome back. The look ahead of the u. S. Jobs data as equities trade higher. Russia carries out more strikes in syria despite criticism that its miscalculating targets and joaquin ahead of making land fall on the east coast. All right. Lets have a look in at what european markets are doing and its green across the screen. The ftse 100 up over 1 and the same is true for germany, france and italy as well. France leading the pack up 1. 4 . It follows a down day for europe yesterday. We opened strongly to kick off october yesterday morning but lost steam throughout the course of the day ending with the stoxx 600 down about 0. 14 im sorry, 0. 4 . The european markets as you can see just there up nicely. France up 1. 4 . All right. Lets also now have an update on markets in asia. Sri. We pretty much wrapped up the session this friday. So all eyes really on the nonfarm payrolls and what it means for the fed and the implications for the u. S. Dollar as well. If this is a constructive figure we could see the dollar rise and could put some pressure on the em currencies and the Commodity Currencies and risk currencies more broadly. Thats a transition mechanism. In terms of trading activity we are on the thin side because remember the chinese markets, mainland equities are closed today and will remain that way until thursday next week. I want to talk about the bank of japan. Theres expectations that they could expand the asset purchase program. So some get closer toward the 2 inflation target. However Credit Suisse expecting status quo and the quarterly policy review on october 30th is when they may start to expand asset purchases. That seems to be the base case among many investment banks so additional easing. Not necessarily forth coming next week but most likely at the end of october. So as i said, the jobs reports next big risk for the markets, the china slow down as well but i wanted to highlight this note from the chief asia economist at deutsche, he said the sell off could well be the first of a three round event. So a stark warning there and let me reemphasize once again and deutsche are doing that. Malaysia in the eye of the storm here. The sovereigns fragility is striking. Capital outflows that we have seen, currency pressures and the political situation on top of that. All right. Thank you for that. Quick look at u. S. Futures and were expecting a slightly higher start to the trading session on this friday. This is after a mixed close yesterday. The s p taking fair value into account as seen up by roughly 7 points. The dow jones higher by 69 or so and the nasdaq edging up by 25 points or so. We had the disappointing manufacturing data yesterday. The weakest since 2013 but today all eyes are on the nonfarm payrolls report. Joining us live is the chief economist from wells fargo securities. What exactly are you expecting today . Well, first of all, i thought it was interesting that president williams set such a low bar at 150,000 for jobs. Our expectation is 190,000. That is good enough again given the tendency for august and september to be underreported in the first release. Thats probably enough for the fed to be moving ahead in december for the federal funds rate. Lets say we get a number thats 180 or lets say we get a number significantly higher than that. 230, 240, 250, you take your pick. Do you think that a little bit of a deviation in the number is going to change the feds thinking in terms of the timing of the first rate hike . Jobs isnt the problem. Its the International Development that is keeping the fed worried. Yeah. I think the priorities for the fed though are primarily domestic and i would say anything between 180 and 220,000 is not going to be a large enough deviation to deter the fed. Especially given williams comments from raising the federal funds rate in december. Yes there is a concern but 25 basis points is probably going to be it. Its going to be more one and done and they will also alter. Theyre going to lower the plot of future federal funds rate increases for the next six months to a year and thats going to make a bigger difference for the emerging markets. Do you think theyre looking at other Central Banks around the world and thinking if europe, japan, possibly china, if they ease themselves well have tightening of a sort anyway so maybe lets just wait. Lets not hike rates domestically because people abroad are going to do it for us anyway. Yeah. I think they have been waiting for quite sometime actually. I think youre quite right. Ever since june i think the International Developments have limited the feds action but i think at this point in time a small move, 25 basis points is probably going to be more appropriate given the strength of the domestic u. S. Economy but as i indicated and i think its going to be true theyre going to have to lower their projections in the future and not create the idea that theyll continue to raise rates throughout 2016 or 2017 at the pace that they have indicated with that dot plot graph. Okay, john. Thanks for now. John is going to stick with us and well have another chat with him shortly. Jack lew says the government will hit the debt ceiling and be unable to borrow more money around november 5th. The u. S. Will likely have less than 30 billion in cash at that point hurting its ability to pay its obligation. Earlier this week Outgoing House Speaker John Boehner raised the possibility of an increase before he leaves office on october 30th. Switching gears, the Prosecutor Office in paris opened a preliminary inquiry into volkswagen for what it calls aggravated deception. One more country to investigate vw. I have been following this story quite closely and one thing was that it is clear this is just Getting Started in many ways. Now the Paris Prosecutors Office talking about aggravated deception. Thats the key here. Theyre looking into the issue of when real road tests dont match laboratory tests. But here theyre looking into deliberate like and deliberate deception and that will be the headache volkswagen has to face when it comes to tallying up the financial cost at stake. And the swiss taking another step saying you can no longer register certain diesel powered cars and that will be another burden and we have the u. S. Head of volkswagen getting ready to testify next week. And theyre starting to put out more comments on how this happened and how far it goes back. Were seeing reports suggesting a decision was made all the way back in 2005 to put this on certain engines. Epa will be present as well. And volkswagen will then have to give some answers. Thank you for joining us. Well have a quick break here on worldwide exchange. Ins and outs of ipos. We get a check on the market and how it faired in the 3rd quarter. Thats coming up. Experian says hackers got access to personal data from about 15 million customers. Lets have a look at price action. Were down about 4. 3 for experian in trade in london. Sprint plans to cut an unspecified number of jobs and 2. 5 billion in costs over the next six months. They have frozen external hiring and all expenses must get approval from the finance department. Sprint rose more than 1 in after hours yesterday in the u. S. And its up 1. 8 in germany today. Lets talk ipos. Companies with market caps between 2 billion and 10 billion dropped 53 . Thats according to new research. Joining us live from washington is alex. Let me guess, Unfavorable Market aconditions. Very much so. There is a lot of volatility. Its driven by a lot of the uncertainty around Interest Rates, International Events and quarter 4 of 2015 doesnt look much differ. Maybe a little more activity but still again a lot of market volatility and uncertainty. Isnt that a really good screening mechanism for the ipos that still do come to the markets . You would think they are better quality. They actually have a solid business model. Absolutely. Companies that are going public are getting warm receptions in the markets. Were see progress seeds increase from 2014. As a matter of fact companies that go public are seeing almost 45 to 50 more proceeds. So the market is the market is receptive. Theres not a lot of ipos but the ones that go out seem to be doing very well. Do you think a big reason is the fact that raising money privately is so attractive at the moment . Weve seen extraordinary evaluations there. Is that making it much harder from the perspective of the companies raising money for them to bother going to the Public Market . Oh, sure, sure. There is opportunities and theres alternatives in the private market. Were seeing high valuations continue and companies have alternativ alternatives. They could go private equity. They could talk to venture capitalists or strategic investors. Theres a lot more opportunities and i think that if companies can create liquidity in the private markets its a lot more efficient and potentially cheaper than going public. Is there a bubble in the