here are your headlines from around the world. >> the dow poised for a gain at the open after a six month low. treading water ahead of the non-farm payroll reports. >> front runner donald trump coming under fire for refusing to rule out an independent bid if he fails to clench the republican nomination. >> allianz still feeling the effects of bill grosses a departure. shares slip as a better than expect profit is soured by

continued weakness from pimco but they defended the performance of the asset management business to cnbc. >> pimco is still the strong bond house it used to be. total there's an excellent performance year to date. almost back to its shining days in performance. >> a losing quarter for zinga. the gaming company disappoints with guidance and falling active users sending shares over 10% lower. >> i'm carolyn roth. coming up on the show alibaba is getting real. how the e-commerce giant is trying to win back customers fed up with knockoff goods. plus this is it, jon stewart signs off after 16 years hosting the daily show. we bring you the highlights from the star studded show. >> and new route to investment.

we're getting on board we i didn't want as it opens the new sewa canal. find out how much it costs after the break. it beats expectations and strengthens the feds ability to raise rates in the month of september. you can see the dow up around 18 points in premarket trade. stocks ending lower in yesterday's session and a lot of that having to do with the underperformance in media and bio tech stocks. something we'll get to in just a second. in the meantime, how are we doing on this side of the atlantic? well, a mixed day of trade. a lot of traders say on this side of the atlantic that they're watching that u. s. jobs report. that could have major implications for the currency market and pressuring the euro down lower if that jobs report

comes in better than expected. after the less than hawkish statement from the bank of england, ftse 100 up around two points. flat on the day. xetra dax the underperformer here down by around 12 points. >> ahead of that jobs report currencies are not going anywhere. yesterday we saw a lot of position squaring and treasuries but that's also happening in commodities. euro dollar pretty much unchanged sitting steady at 10926. the dollar is a touch weaker against the yen back below the 125 handle. the bank of japan not doing anything overnight when it comes to rates. the aussie dollar has seen quite a come back this week. and pound sterling is bouncing back. want to show you what's going on in commodity prices. a slight bounce back in brent

crude. up by 0.6%. 49.83. wti at 44.98. it may have something to do with a slightly weaker dollar or more opposition to the iran deal by republicans or maybe just a technical bounce back. guys. >> thank you for that carolyn. now let's move on and talk in more detail about that jobs report coming at 8:30 a.m. eastern time today. 223,000 in june while the pace of hiring slowed from last year it's double the rate necessary to keep up with population growth. the unemployment rate is expected to hold at a 7-year low 5.3%. let's talk about this more. joining us live from dallas is the chief economist. good morning to you. thank you for joining us. >> good morning.

>> last week's adp number did slightly disappoint. so are expectations slightly tempered today? >> i think they are. they're looking for around 225,000. this will be on par with what we saw last month. keeping that average around 220,000 which is the pace of hiring since the start of the year. keep in mind that the fed is looking for further improvement in the u.s. labor market so simply more of the same. doesn't necessarily imply that the u.s. labor market is taking additional steps in the right direction. >> how has the recent drop impacting the jobs picture. >> we are certainly seeing a decline in the energy sector in hiring in the energy sector and remember these are high wage jobs so that is certainly put ago digsal downward pressure on

the wage component and wage growth has been the missing component with average hourly earnings stagnant since the end of the recession. >> they have been positive for 50 consecutive months but they're accurately absorbing the slack in the labor market. so arguably more important than the headline increase we will be watching that average hourly earnings come poent just like the fed will be. this report and subsequent reports to see if we can start to see upward momentum in wages. >> let's assume everything is in line. the headline number is in line and average hourly earnings at 2.2% on the year. that comes in line with expectation. is that status quo enough to keep september in play at all? >> i don't think so. the fed was very clear that they're looking for at least some further improvement.

so simply maintaining employment and wages right near that stagnant 2% space is not going to be enough to convince policy makers that the u.s. labor market is gaining momentum. as we saw in the july statement the fed continues to maintain a very modest assessment of the economy but they're looking for strength to justify a near term change in policy. >> interesting day. thank you for getting up early with us here on worldwide exchange. now, gop presidential front runner donald trump did little to relinquish the spotlight at the first republican primary debate on the fox newschannel. he even drew jeers from the crowd when he refused to rule out an independent run. >> is there anyone on stage and can i see hands who is unwilling tonight to pledge your support to the eventual nominee of the

republican party. >> raise your hand now if you won't make that pledge tonight. >> mr. trump. >> if i do win and i'm leading by quite a bit that's what i want to do. i can totally make that pledge if i'm the nominee. i will pledge i will not run as an independent. >> all right. what's the reaction been from americans on the ground. >> make no mistake there's still a lot of people who are very big on donald trump but also there were trump supporters that went into the debate looking for something different. looking for someone presidential and looking for someone to bear down on the issues and that's not always what they feel they got from donald trump. he got into it with megyn kelly when she asked him a question about derogatory statements he made about women. he later said he thought his questions were unfair and inappropriate. he went after megyn kelly saying

he could be unkind to her as well. he went after her on twitter saying that she and the other moderators were unprofessional. it will be interesting to look forward to the next debate in california next month to see what happens between donald trump and the moderators there. there were other standouts. others that held their own. others that republican voters may take a second look at. ted cruz and mike huckabee held his own last night. jeb bush who was sort of muted but certainly beared down on some issues and that keystone excel pipeline that folks have been talking about he talked about that when it came to hillary clinton and then finally ben carson that hasn't got b tes much attention had one of the most memorable lines of the night at the end when he talked about being the only person on stage that ever separated

siamese twins or had ever taken half a brain though you might not know that if you went to washington. we may see him again on that stage next month. >> thank you so much. now after 16 years and 18 emmy awards jon stewart signs off from the daily show. he opted for a relatively straightforward finale with behind the scenes clips and a little bit of political sat fire. several of the shows old correspondent including steven colbert, steve carrell delivered one liners and bruce springsteen gives him a musical send off. he thanks his family, friends and the fans. >> nothing ends. it's just a pause in the conversation. so rather than saying good-bye or good night i'll just going to say. i'm going to go get a drink and i'm sure i'll see you guys before i leave. try the superior hold...

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zynga posts a surprise revenue beat and jon stewart signs off as host of the daily show after 16 years in the hot

seat. allianz under pressure despite posting better than expected second quarter net profit and guiding for earnings at the top end of the range. we spoke with the group's cfo that defended the performance of pimco which lost last year of course. >> pimco is still the strong bond house it used to be. as a performance of the funds looks total the fund has an excellent performance year to date. it's almost back to its shiny days in performance. >> lion's gates first quarter revenue fell 9% missing forecast. growth in the company's tv business which producers and licensed shows such as orange is the new black was offset by decline at its movie studio as it only released one film during the quarter.

lion's gate does have a potential blockbuster when the final hunger games movie is released. currently germany up by 1.3. >> very interesting story. second quarter revenue jumped 30% on higher spending on its slot machine games but the company is still struggling to stem a decline in monthly active players. the maker of farmville and allies is forecasting to come in well below expectations even as it gets set to release new games in the fourth quarter. shares falling as much as 10% in after hours trade. zynga down by 1.3%. >> the egyptian president unveiled the country's new canal. an $8.5 billion project finished in under a year. hadley gamble has the full story for us. >> it was a historic day for egypt with pomp and pageantry and a major political victory for the country's president. a new canal, 35 kilometers long carved out of the egyptian

desert in just a year at a cost of $8.5 billion and all financed by the egyptian public. but with analysts already speculating that the governments figures are overly optimistic, a potential wind fall, $13.5 billion in increased transit revenues over the next five years it's the economic zone's plan for around the canal that the government hopes will rake in the long-term cash. and it's that long material investment and job growth that egypt so desperately needs. as governments begin to tighten the purse strings the pressure is on the president to perform. >> when you come to a conference like this you can almost feel the economic engine of egypt starting to rev up. >> a string of multibillion dollars deals announced in march with the likes of bp were a start and a look at the guest list in suez, leaders from the gulf, africa, the russian prime minister and the president of

france may shed some light on where the president is hoping to find strategic partners for investment next. earlier this week the obama administration reaffirmed a commitment to redeliver 8 aircraft suspended indefinitely after the overthrow of mohammed morsi. secretary kerry delivered the good news but was notably absent today. though the presence comes as no surprise given the major monetary commitments to keep the country in the black. they do reflect a widening of the net. a growing coroboration that's translating into new deals. >> this is all about maintaining economic stability for the long-term but for many privately they speculate this is as much about geo strategic alignment as it is for financial opportunity. >> and hadley joins us on the phone now.

hadley, earlier we spoke about whether this would prove to be a good investment for egypt. i wanted to move the debate on now and touch on something you put in your package there about what this means for where egypt is now seeking investment going forward and who they want that investment to come from and will that put pressure on their existing relationships? particularly with the u.s.? >> certainly the egyptians would argue that what happened in the days following the first egyptian revolution back in 2011, the arab spring and the american response was the ousting of president m. they looking everywhere they can get. there's a new realignment there as well.

what's interesting is the american response. john kerry is busy in vietnam today basically trying to say this deal for the obama administration, another thing that didn't sit well in the middle east, he was there and all of these leaders from russia, france, both governments, so many folks, africa. >> we're going to have to leave it there hadley. i'm afraid there's issues with a bad line. maybe we'll get back out to hadley later in the show. >> coming up on worldwide exchange, all eyes on that jobs number. we get the inside scoop on the hiring landscape from a recruitment giant. that's coming up next. don't go away.

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only from at&t. tested to withstand pretty much anything life throws your way. switch to at&t and get a $300 credit with eligible purchase and trade-in. if you're looking for hot areas of hiring in the u.s., head to the northeast and get trained in i.t. it paints a rosie picture for the jobs market. it's predicting an upswing in hiring this year, rising starting salaries and growing momentum for business hiring. let's get more on that from eric. i was going through your notes and you say there's a favorable dynamic happening in the labor market today. companies are feeling more financially secure and are increasing their head count. if that's the case why have we

not seen a meaningful jump in wage growth? >> we have seen, you know, kind of consistent steady growth. i mean, it hasn't been overwhelming but we have seen on average 240,000 jobs a month being added in the last 12 months. we're starting to see wage inflation in a lot of the areas and the strong demand. high professional skills area and we expect that that will continue to increase as the market continues to get tighter. >> how regional is the current jobs recovery? >> you know, we have seen broad based recovery in a lot of areas. it's not necessarily one sector or region. the west is lagging a little bit. they got hit the hardest in the recession. they have come back a little slower but we've seen broad based recovery throughout the united states. >> and similarly, let's differentiate between bigger companies and smaller companies. so far it's been lead by bigger companies. do you think small companies can join the party soon? >> in our recent survey 34% of

small businesses expect to add head count in q-3 and we see strong confidence continue to increase in small businesses. cash has been on the sidelines for a bit but we continue to see investment in small businesses. it's getting easier and more financial viable to hire and we see growth in that area. >> everyone has been talking about the jobless recovery. others have been talking about the temperature recovery. are you seeing more hiring in temp or permanent? >> there's a recent survey we put out t fastest way to find a full time job is to take a temporary assignment. 34% of companies will take on temporary hiring as a way to strengthen their work force and that's a new dynamic that will continue to stay as we continue to recover. so i think it's important to look at that type of economy or that type of work as a viable gain for employment. >> we have been seeing this increased focus on silicon valley. the innovation we're seeing from this area and the number of start ups getting valued at

these mega high price tags. what does that mean? has that resulted in an increase in the number of tech jobs? >> well, i mean, i think valuations aren't new for silicon valley. we'll continue to see that growth and obviously technology is leading a lot of growth in the economy with the rise of mobile technology as well as the cloud and big data analytics. it's going to be strong growth and strong demand in i.t. jobs so i don't think that's a trend that's new. >> lastly, how would you compare the number of jobs being created in high paying versus low paying industries? >> there's been a broad cased technology but there has been some of the blue collar stuff. welders, truck drivers and

you'll continue to see that as the market recovers. >> have a great day. thank you so much for joining us. >> and we have been asking you given that it's jobs friday what is your non-farm payrolls guess? let us know what you think using the #nail the number. you can see our forecast on the screen right there. join the conversation on worldwide exchange. get in touch with us by e-mail at worldwide@cnbc.com or our personal handles on the screen. my guess is 219 is a little bit more bullish but wilf what makes you think 241? >> i use my modeling to come up with that guess 241 so everyone should take that as right. it will be 241. >> what's the bet? who is buying drinks? >> the loser buys drinks and lunch and the restaurant changes depending on who wins. >> i see. >> we've had viewers writing in. he says he is from hawaii. he says my unscientific guess is

212, 550. that's very specific isn't it? all right. >> we'll have to see who is right on that one. now over 40 years since he completed what was once called the suicide jump. he's broken the world record for the stunt clearing 22 cars on the same bike. it was only attempted and failed by two others before evil did it in 1971 when he jumped 19 cars. quite amazing pictures there. >> still to come, we'll talk more about the gop presidential discussion yesterday. donald trump drawing boos for leaving open the possibility that he may run as an independent. we'll talk more after this short break. try the superior hold...

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welcome to worldwide exchange everyone. i'm seema mody. >> i'm wilfred frost. here are your headlines from around the world. >> happy friday. stocks set to open lower at the dow closed at a six month low. >> presidential hopefuls clash in the first gop debate. front runner donald trump coming under fire for refusing to rule out a bid if he fails to clench the nomination. >> orange is the new black helps boost lion's gate business in q-2. but it's film division weighs on

results. >> the gaming kpaeb disappoints with guidance and active users sending shares over 10% lower. >> thanks for joining us on worldwide exchange. this jobs report for the month of july will help determine whether the fed will raise rates in the month of september. remember the consensus is for 223,000 jobs to be added in the month of june and then july at 215,000. but it's not just a jobs number. we also need to see signs of wage growth. that's what economists will be focussing on. goldman sachs yesterday noting that the ism non-manufacturing composite pmi supports the case for a better than expected number today. of course we'll see what happens at 8:30 a.m. eastern. in the meantime take a look at what we're expecting in terms of

wall street action. stocks closing yesterday due to an underperformance in bio tech and media stocks. the dow higher on the day around a quarter of one point while the nasdaq, the big underperformer yesterday down by around three points. here in europe disappointing industrial production numbers out of germany sending stocks slightly lower. xetra dax down by 16 points. ftse 100 down by around five points and a quick look at the french market. if you take a look at year to date performance of these three markets france the big winner up about 20% year to date. in today's trade on friday down by around six points. how do you make money in these markets ahead of the jobs report? here's what investors have been telling us. >> in a survey data it's very strong and forward indicators are as well. they're very strong. >> i would not touch high yields

at all. i would actively advise clients not to touch high yields. i think there's no value left there and if you can't afford volatility, why don't you buy financial stocks or even yields of 3, 4, 5, 6%. >> equities might be a good choice. if you look at the defense sector still offering dividend yields which are clearly the multiple of the same companies in the bond space, given that interest rates are in the u.s., risk volatility might be better in the defensive sector than in the fixed income side. >> let's get back to our top story. the top ten leading gop presidential candidates took to the stage for their first debate

on the fox newschannel and current front runner donald trump continued to be the center of attention. trump drew boos from the crowd for refusing to rule out an independent bid should he fail to clench the republican nomination. his controversial candidacy drew a mixed reaction from the other candidates. >> if i do win and i'm leading by quite a bit. that's what i want to do. i can totally make that pledge if i'm the nominee. i will pledge i will not run as an independent. >> he's already hedging his bet on the clintons. so if he doesn't run as a republican maybe he supports clinton or maybe he runs as an independent but he's already hedging his bets because he's used to buying politicians. >> donald trump is hitting a nerve in this country. he is. people are frustrated. they're fed up. they don't think the government is working for them and for people that want to just tune him out they're making a mistake. >> i have said that mr. trump's language is devicive.

i want to win. i want one of these people here or the ones at 5:00 to be the next president of the united states. we're not going to win by doing what barrack obama and hillary clinton do each and every day. dividing the country. creating a grievance kind of environment. we're going to win when we unite people with a hopeful optimistic message. >> god has blessed us. he's blessed us with good candidates and the democrats can't even find one. >> joining us is the political analyst and a cnbc contributor. let's kick it off with you. donald trump came into this debate as the clear front runner. does he come away from the debate stronger or weaker? >> i think he really does come away weaker. i think the comment about maybe running as a third party candidate hurt him. he was nasty to the fox news host, including megyn kelly and they did a focus group after this debate and his support completely collapsed.

he has been drawing support across the spectrum and that may narrow to the real sort of core sort of extreme right people on the right who really don't like immigrants and i'm hesitant to declare, this could be peak trump. >> john would you agree with what james has to say. >> i do and i don't. i think that for folks that really did like trump before i don't think that he did anything that completely imploded his support there but i do think he hurt himself with his comments on women. his role as possibly running as a third party candidate. that's not going to help. i don't know where he goes from here especially if the media starts turning toward other candidates in the future and that's a distinct possibility at this point. >> there's a lot of noise to cut through with ten candidates on stage but people seemed relatively agreed that it wasn't a great night for trump. is there anyone that stands out that it was a great night for? >> marco rubio did a great job last night. his speech about where he comes

from, his background. for a lot of the national audience that might not be familiar with him he helped himself out there. john kasich had a home court advantage. governor of ohio and debates takes place in ohio. sets himself as an alternative to bush. most folks took a backstage like jeb bush. >> it seems as though this debate didn't move the needle too much in terms of telling us who the real front runners are. no major gaps. what does it tell us about reshaping the gop field which is incredibly crowded with 17 candidates? do we know anymore? >> i think we know something actually pretty important. this is going to be a barnburner of a gop race. jeb bush came in with a shock and awe campaign. he is going to raise a lot of money. unfortunately jeb bush does not have a shock and awe personality on these stages. they faded in the background. you saw rubio step up and john

kasich. you have a number of people that could be the republican nominee. this is going to go a long time. republicans want this thing to wrap up early. that is not going to happen. >> do these controversial comments from last night's debate strengthen hillary clinton's hand? >> i do think they do. especially on issues of women's rights. issues of immigration. i think, you know, in the short-term it does rally the republican base to start paying attention to the nomination cycle but i think long-term hilary has got to be thinking favorable here as far as if she starts positioning herself in the general election and the republicans begin to position themselves to the right. this is the same thing that happened in 2012 with mitt romney. >> we talked so much about the individual contenders performances and ability or lack of likeability. what about the message they're sending? immigration and national security, was there anything that stood out to you? >> listen, the reason nbc polls show that 2-thirds of americans

are really concerned about the direction the country is headed is, they think the country is on the wrong track. if you're one of that 65% that watched that debate, what did you get from that debate? you got that republicans want to build a wall and they want to kilter rists. fantastic. but that says nothing if you're concerned middle class american who is worried about paying for their kids college and worried about your retirement. they offered very little to that voter. >> i want to bring it back to donald trump of course all eyes on him before and after this debate. the financial times says that he was rambling, evasive and unconvincing. those are the types of descriptions that were thrown at him after his first speech when he announced his candidacy. we thought he might be a little bit more polished now and more of a politician. is it a good employ of him to continue to distance himself from the polished politician image he has tried to distance himself from throughout the campaign? >> i think a campaign advisor

will always talk about authenticity. voters crave authenticity and donald trump gives you lots of authenticity. i don't think that's going to change. i don't think you're going to get much more from him. i don't think you'll get 12 point plans. it doesn't work well. but that's what helped john kasich. he was a little bit rambling at times but that was kind of who he was and that really shown through and the people that do try to present a more polished image, i think that voters might get turned off by that. especially if they like the rawer sort of thing that donald trump is giving you. >> aside from donald trump, chris christie and rand paul pu bush's performance was tepid. no big takeaways. do you think that was his strategy coming into this debate. >> bush, i think bush came in

again very tightly wound in these debates. i talked about his message, you know, as florida governor. his conservative record and job growth. somehow it does not seem to be breaking through the filter. >> john, what are your thoughts? >> i agree. i think this is a chance for bush to actually set himself a part and say listen i can unite this party. he's had tremendous difficulty in achieving that. basically takes a backseat. doesn't challenge anybody out in the field and doesn't galvanize. so what he is doing is sitting on his cash, eyeing the alternative here after everyone else goes away but there's no distinction here that that is actually going to occur and he's tra treading on difficult lines here that can play quite negatively toward him long-term if we see a walker or rubio step up as a viable alternative to his own

candida candidacy. >> can i get a name from each of you guys, who will ultimately be the gop political contender maybe running against hillary clinton? >> it's always tough to do that. i do like marco rubio. i think he offers a nice narrative and contrast to hillary clinton. >> i think marco rubio is a very plausible republican nominee and i think john kasich is coming up fast. >> thank you so much for that. really appreciate your time. cnbc contributors. >> sticking with politics, keeping up with the clintons. kim kardashian endorsed hillary clinton for president with a selfie last night as the gop debate played out. kim tweeted exciting to be meeting our next president tonight. maybe she'll take a selfie with me. before getting her wish in a snap that included husband kanye west that you can see on the right side. >> let's take a look at today's

other top stories. zynga second quarter revenue jumped 30% on its slot machine games but the company still struggling to stem a decline in monthly active players. the maker of farmville is forecasting 3rd quarter bookings to come in well below expectations even as it gets set to release new gains in the third quarter. zynga following as much as 10% in after hours. >> capital one financial is reporting talks to buy ge's health care finance business. a deal could top $10 billion. a sale would bring ge closer to its goal to shed $200 billion of finance assets to focus on its industrial businesses. capital one and ge, let's have a quick look. both off only slightly in german trade today. >> still to come on worldwide exchange, carl icahn is dipping his toes back into the energy sector buying a large stake in a natural gas producer and calling

for changes. that whole story coming up. don't go away. ♪ no student's ever been the king of the campus on day one. but you're armed with a roomy new jansport backpack, a powerful new dell 2-in-1 laptop, and durable new stellar notebooks, so you're walking the halls with varsity level swagger. that's what we call that new gear feeling. you left this on the bus... get it at the place with the experts to get you the right gear. office depot officemax. gear up for school. gear up for great.

green mountain coffee leaving a sour taste in investor's mouths disappointing k-cup sales and providing a weak outlook and announcing a plan to cut 5% of its work force.

about 90% of the analysts that cover keurig green mountain coffee rated at sell or hold. it's down by about 27%. >> thank you for that. interesting perspective on the coffee market. let's also just move on and talk a little bit about more about activist investments. bill ackman in focus earlier in the week and carl icahn well-known for buying big stakes in companies. he may be set to shake up the board at a new target this time in the energy sector. let's get all the details from landon. she's live at cnbc hq. >> he has acquired an 8.2% stake inially liquified national gas producer cheniere energy. he bought shares for about $1 billion. he intends to talk to cheniere's management and board about operations, capital spending,

financing and executive pay. icahn may seek to get a seat on the company's board. he has a history for pushing at changes over the years and has shaken up the boards at chesapeake energy, and transocean. he is getting set to export the major amount by u.s. tanker ships this year from a plant being built off the coast of louisiana. it has signed deals with customers to buy the gas over a 20 year period. they also committed to building a second terminal near texas. the company that has the market cap of $15 billion lost money every year since it was founded in 1983 including in the latest quarter when it lost 142 million but it's gas contracts are promising to generate billions of dollars annually once shipments begin. cheniere also came under fire for its compensation packages. it had a pay package in 2014 making him one of the highest paid us. top executives.

last year his pay was valued at under $8 million and as of this year he no longer gets a salary. down about 8% this year rose 6% in after hours and today in europe it's up more than 2%. wilf, back over to you. >> landon, thank you very much. >> july was a bad month for renowned oil trader andy hall. his hedge fund suffering the second biggest loss ever leaving it $500 million poorer. he failed to anticipate the sudden market shift in crude prices. his capital fund posting a 17% loss in july and it's down 15% for the year. >> let's talk alibaba. bagging big brands. alibaba will soon be selling clothes from a further 20 fashion labels. the chinese e-commerce giant signed exclusive partnerships with international names like zara and timberland. this is an effort to bolster it's line-up.

let's remind you of the headlines before we head to break. the final hurdle for fed rate rise in september looms as investors eye today's nfp number. zynga with a surprise q-2 revenue beat but stocks slump in after hours and jonvoage. jon stewart signs off as host of the daily show after 16 years in the hot seat. worldwide exchange is back in two. like your natural teeth.

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a powerful new dell 2-in-1 laptop, and durable new stellar notebooks, so you're walking the halls with varsity level swagger. that's what we call that new gear feeling. you left this on the bus... get it at the place with the experts to get you the right gear. office depot officemax. gear up for school. gear up for great. after 18 emmy awards jon stewart signs off from the daily show. he opted for a straightforward finale thursday night with behind the scene clips and a little bit of political satire. several other correspondents including steven colbert and steve carrell delivered one

liners and bruce springsteen gave stewart a musical send off. he thanked his staff, family, and the friends. >> nothing ends. it's just a continuation. it's a pause in the conversation so rather than saying good-bye or good night i'm just going to say i'm going to go get a drink and i'm sure i'll see you guys before i leave. >> congratulations to jon stewart. quite the legend. let's get back to markets. european markets in the red today. they have been down the last couple of days but in more resilient fashion. declines only small in nature. >> the dow closing at a six month low ahead of today's jobs reports. the dow down by around 11 points in premarket trade. seeing some volatility here in premarket over the past two hours. nasdaq down by around 4. nasdaq losing 1.5% in yesterday's trade. >> the july u.s. jobs report is out at 8:30 a.m. eastern with another solid month of hiring expected. forecasts call for an increase

of 215,000 in non-farm payrolls versus 223,000 in the month of june. joining us is the chief option strategist at bulls eye options. good morning. we had a guest on the show saying if we got an inline number on the headline number and hourly earnings that won't necessarily keep september in play. agree or disagree? >> i don't know. i think september is very much still in play and i really am encouraged by the way the market reacted when that seemed to be more certain the last time miss yellen spoke. so the marks past it. i'm past it. the question is what will be the speed of the next rate hike. this first one is going to be symbolic but we're past it and the market holding at these levels is a very encouraging sign. >> look at this week's price action. media stocks really getting hit. in fact, the recent media melt down on wall street raised a combined $44 million in market cap of the ten largest media

companies. this is a big move we're seeing in the space. at what point do you think the bargain hunters will come in. >> well, that particular sector could be an opportunity. it's like apple here. you see it pulled back a lot. overall it's still very positive so you want to look at it as an opportunity. we'll see if people can step into it. apple selling off, the nasdaq was one striking distance or one day's move of making new all time highs. so i'm disappointed in what the market hasn't done but i'm encouraged that we haven't gone down in this particular environment even with low energy prices putting the pressure on stocks. it's still been very positive over all. >> let's broaden out. is the market itself facing a few buying options? because of course august was positive all three major indices -- i'm sorry, july was positive all three major indices. august started off very negatively. are we looking at buying opportunities or is there a

deeper correction to come? >> i'm still very optimistic. we have been trading between 2120 and 2040 in the s&p so we trade within the range. right now we're stuck right at the middle point. so the s&p is still positive on the year. i'm not going to try to pick the top. there's been volatility here recently. we made annual lows just wednesday at 1088 and had a big bounce 25% off that low in the last session and a half but overall volatility is down 28% year to date. the trend is still down. the trend is still up in stocks but i'm looking at this as a buying opportunity. i like intel here and i like twitter, believe it or not, to see if it can hold this 26 level. 26 is a magic number. that's the ipo price. so anybody guided at the ipo is still in the profit. >> an interesting perspective. thank you very much. chief option vat gists at bulleye options. that's all we have time for here on worldwide exchange. thank you for watching. >> have a great friday everyone. we'll see you on monday. squawk box is next.

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good morning, gop candidates hit primetime. who shined, who failed and trump being trump. plus carly fiorina lighting it up on the early show. will the report we see today about july provide relief as the dow hits a six month low. and a major blow to president obama. one of the most powerful democrats in the senate breaking with the president over the iran nuclear deal. chuck schumer choosing debate night to drop the news. i want to figure out the strategy there and the political

calculus there. and sponge bob losing his shirt. viacom just one of several media giants getting crushed in the digital age. it's friday august 7th, 2015. it says 215 but i know that's not true. and squawk box begins right now. ♪ >> live from new york where business never sleeps, this is squawk box. >> good morning, everybody. welcome to squawk box here on cnbc. i'm becky quick with joe kernen. andrew is off today. the count down to the jobs report is on. the labor department will be releasing the july employment data about 2.5 hours from now at 8:30 a.m. eastern time. here are the expectations. non-farm payrolls are expected to come in at 215,000. there are other estimates as high as 225,000. that would be closer to june's number of