>> hi, everyone. happy friday. welcome to worldwide exchange. >> these are your headlines from around the world. >> friday, so yes it is time for the jobs data but is it the data or the date that will determine a rate hike? the latest u.s. jobs report is set to add more clues to the timing of a fed move. >> disney's force awakens as cable delivers better than expected returns and the ceo tells cnbc hopes are pinned on another blockbuster franchise. >> on the eve of our first star wars movie we're feeling good

about the year ahead particularly lead by the studio and media networks are no guidance for the year. >> shares in syngenta seeing green on reports that the swiss agribusiness is in talks over a potential tie up with it's u.s. peer dupont. >> rihanna takes a bow after they credit the grammy award winning singer with a spike in women's sales. >> happy friday. welcome to the program. thank you for joining us on worldwide exchange today. we're getting into the show. that's a good idea. >> everyone should hire her. >> we should all get some rihanna on the program. we're taking a look at the wall street session. trading ahead of the jobs report. that's expected later on today. right now the implied open is

telling us we're trading below fair value when it comes to the s&p 500. maybe down by a point or so. it looks like we're flat out of the gate and the nasdaq pricing in small gains of maybe 1 point or so. u.s. employers expected to have added 183,000 jobs in the month of october. analysts are also anticipating upward revisions to the previous months which was quite disappointing. don't forget. ahead of that we of course got the payrolls report. is it the data or the date that will determine the timing of a rate hike. we got ism nonmanufacturing numbers showing a solid rate bounce and while growth slowed a little bit in the third quarter, overall gdp expected to show another strong year. we're still on trend of close to

2%. >> and we've had so much fed talk over the last couple of days, haven't we? the fed itself has begun to sound a lot more hawkish. earlier this week, the chair described a december hike as a live possibility. speaking last night atlanta fed president said the case was strengthening for a move this year. however, vice chairman stanley fisher has remained fairly dovish saying raising rates is not a commitment. >> and we have a 50/50 call on a december lift off. >> let's get a preview of the jobs report. joining us from charlotte, north carolina, john, thank you for getting up for us. always a pleasure. we're expecting 183,000 is a call on the markets for october but for the last three months it's been disappointing. we've only seen 167,000 jobs.

>> i think that's key. that number has continued to move down. average hourly earnings numbers continue to drift upwards and i they combination is going to dictate that it's the data and not the date that dictates a fed move in december. >> wage growth is still benign as you know. also participation rate. i always have a hard time saying that so early. it's the lowest since 1977. >> yeah. there is a change in dynamics. labor force participation rates continue to decline on trend overall for both men and women and i think that's again saying that the labor force is actually

pretty small. we look at job hirings and job quits, both of those numbers suggest a stronger job market for the existing workers so wages and salaries continue to move up sharply and it's real wages and salaries that have been strong. you're dealing with a labor market that's solid. >> has she boxed herself into a quarter by making the statement she made earlier this week? because now you could argue there's no way back for her. there's been so much criticism already on the confusing communication coming out of the fed. >> yeah it was very unfortunate to say something like by the end of the year they expect rates to rise. they're trying to give forward guidance and help the markets adjust but being date dependent was probably not a good idea. it has to be the data and their expectations for inflation and

the pattern of job gains overall. >> the argument is that we are not seeing enough liquidity for traders out there in december for the fed to make that move. do you actually think that we could be seeing quite a volatility in the markets as a result of that? >> yeah. i think if the fed just raised the rates and didn't change the pattern of what they see, rates going over the last two or three years that would create some problems but i do expect they'll raise rates. they'll lower the trajectory of the federal funds rate for 2016 and 2017 and that will give the market a lot more confidence. >> john, it's always a pleasure. thank you so much. chief economists, wells fargo securities. we got more fed talk today coming up on our own channel. steve has an exclusive interview with chicago fed president charles evans right after the release of the october jobs report. that comes your way 8:30 a.m.

eastern time. >> quick check on jurors subpoena markets which are looking a little mixed at this point in time. the ftse 100 is flat. the xetra dax is trading lower and overall it seems there's some caution ahead of the nonfarm payrolls report. luxury stocks are drag manage indices lower on the back of the disappointing numbers. let's check in on how markets did in asia. adam is in singapore. >> we were just debating of course the issue whether the fed is going to be increasing the interest rates by december and that's one of the challenges we face in asia as we continue to see the celebration of the u.s. dollar that had pressure on these asset markets including he inquiry gattis and bonds. and india is already down and all the markets in southeast asia are vulnerable to the prospect of higher interest rates all ended in the red today but we did have pockets of

strength. silver linings here. take a look at the shanghai composite. that market rallying for this third straight session taking this index further into bull market territory and just to give you some stats on this, the market has rebounded 25% since the sell off we saw in the month of august. that particularly fragile third quarter. strength coming out of the market but got lost in translation. financials were lower lead by standarded chartered. these names you know about in europe but together with the chinese financials as well. kept the market on the back food and further up you go, nikkei 225 also counting three. that's the third day of gains for that market. we saw brisk volume as the yen continue to be depressed. there's a tight correlation. also lots of commentary coming out from the bank of japan. governor talking about a variety of things including the economy,

china and the inflation targets. they'll be able to hit the targets potentially by the end of the second half of 2016. >> adam, you have a good weekend of course. >> let's give you a run down of what to watch this trading day. we're also going to get september consumer credit this afternoon which tracks americans borrowing habits. signa humana before the opening bell. berkshire hathaway out before the close and don't forget charles evans will be on our channel as steve has an exclusive with him. still to come on the program, worldwide exchange, great takeaway from investors. shake shack beating on the top and the bottom lines and raises it's out look. we'll chew over the details.

that comes your way next. netwo

ad revenue and got higher fees from cable and satellite

providers. revenue lower than analysts predicted as disney lost subscribers from some of the cable channels. the ceo saying he is still sticking with the company's august forecast when it lowered the cable profit guidance for the year after saying espn suffered modest subscriber loss losses. >> we are continuing to do what we can to make the traditional platforms as successful as possible in this era. we feel good about a number of the steps that we're taking in that regard. we think there will be more to come but generally speaking, as we look at the media environment, the opportunities that we have today to distribute our product to each more people are greater than we have ever seen before. >> a bright spot was consumer product sales, what they call merchandising which rose 11% in the quarter. strong demand for items tied to

movies like frozen, avengers and the upcoming star wars film. we should point out that this star wars film of course will be the first under disney since they bought the lucas film franchise but the bread and butter as i keep saying is their cable channels which contribute about $4.25 billion in revenue for them in the quarter and, in fact, they were up. they were up 12% for revenue there is that ended in that quarter and when it comes to espn, everyone got freaked out by the subscriber -- modest subscriber losses as bob iger should be saying. people are say as good there saturation at this point? no one wants to keep paying for espn and you mentioned subscriber growth is going down for espn itself. >> it's going down for every cable company out there. a lot of people are moving toward the skinny bundle or unbundling completely and what

they're doing is using netflix, they're using hulu and the likes of all of these players and that has caught a lot of people by surprised at how fast and furiously this trend has effected the market and that's why bob iger shocked the markets earlier this year in august when he made those comments about slowing subscriber growth. so cord cutting is real also for disney but they're always cushioned by their parks and movie franchise and lucas films that must have been a great purchase. >> even without star wars they doubled their film revenue to $530 million. but why don't we bring up the chart and the numbers in that lovely graphic that shows you what espn is doing these days, right? since they are paying so much more for exclusive rites to cover nhl, nfl, major league baseball. the list goes on and on but on the conference call i think bob iger said well maybe it's a way that cable channels need to look at how they bundle these

channels in the future and maybe, also, disney needs to take a look at how they basically go to subscribers and viewers in the future. >> direct to consumer. i think that's the way forward but there's always an element of how much of the revenues are going to lose? how much of the viewer loyalty are we going to lose over this? let's talk sports, fashion and very well-known singered. sheltered by rihanna umbrella, shares in puma are trading higher after they're optimist about it's women's business. the company said the launch of the first pair of sneakers by the pop star sold out within hours or days at most retailers. however puma's net profit fell 31% and the company missed expectations on both net profit and sales. so what's the new line called? it's called creeper. sold out within hoursor days at

most retailers. they confirmed they're fully out on the back of this. so thank you so much rihanna. >> forward orders are looking good as well. and you know we did some research as well because i was asking our producers, can you tell me how much puma is paying rihanna to be the creative director. we couldn't find it but i assume given how smart and business savvy she is, i assume she's getting a percentage cut. >> of course she would. >> of course she would. >> i want to see the shoes. i haven't seen the shoes. but maybe we're too old to buy the shoes. maybe that's more geared toward the teens. i'm too old to wear converse apparently. >> are you? >> but we can stay on these pictures. i'm sure people love looking at rihanna. she probably doesn't eat burgers? i don't think so. but shake shack is another name that we need to highlight as well. we have to end the constant

streaming of rihanna pictures but we'll bring them back. shake shack is raising the full year revenue outlook after same store sales soared 17% in the third quarter, well above forecasts. the burger chain's profits and revenue also beating estimates and shake shack expects full year same store sales of 11 to 12% up from previous forecasts in the mid to high single digits. shares rising more than 5% in after hours over in germany. look at that. 7.5% up. >> wow. i only found one shake shack in london so far. it's good, isn't it? >> grand theft auto and nba 2k maker beat analyst forecast with revenue in the 3rd quarter increasing threefold. it's game titles drove the growth but it's digital business also showed strength accounting for nearly 40% of sales. shares rose over 4% in after hours trading. here are your headlines on this

friday. markets in wait and see mode ahead of the jobs report. u.s. futures pointed to a slightly lower open. not shaken. it's the top and bottom line for shake shack and british health care group to buy zs pharma. we'll be back in two. ♪ there are no medals won for earning a living. it's just what you do for family. but it's hard to build a future if you can't see past today. that's why walmart is investing in the most important part of our company - our people. because a raise in pay, raises us all. ♪

>> in a statement he says he's on the road to recovery and some uncertainty over who would run the second largest u.s. airline. united appointed him as acting ceo and the board had been repairing for all outcomes regarding his hospitalization last month. now united continental down. >> iag is trading in the green after upgrading it's profit guidance. the owner says it is now targeting average earnings growth of more than 12% a year up from previous guidance of 10%. >> now for those flying on lufthansa you might want to check your tickets. the cabin crew union will go ahead with a week long strike

after today flight attendants are expected to walk off the job. the disrumption is likely to be significant as it's had no chance to drop alternative plans. vladimir putin vowed to protect his citizens amid claims that boms caused a russian plane to crash over the weekend. egypt meantime says the decision to suspend flights by some european airlines is unjustified in their view. let's get out to cairo and we have hadley gamble joining us and we should point out the u.s. president has joined in the chorus positively. he's he's emphasizing there is a possibility now that there might be credibility to the theory that a bomb was planted on board. >> that's right and many people

are looking for some kind of confirmation. exactly what did happen to that aircraft when it crashed in the sinai. there's a lot of movement at the airport right now and we're hearing that they are being allowed to take off and we're talking specifically about some easy jet flights that have been bound for the u.s. several of them now we're told by easy jet in a pr statement that essentially those flights have been taken off the schedule. there's going to be two flights departing today. we're expecting to hear from the british ambassador momentarily. so a lot of movement there and information going back and forth from these airlines trying to get passengers back to the u.s. so a developing story on that front. we understand two of the black boxes found a couple of days ago. they're still trying to extract data. that's the recorder in the

cockpit. they're trying to get more information about what happened on this aircraft before it went down and u.s. and british authorities making it clear that they think this was likely a terror attack. guys. is the airport safe or not, hadley? >> that is the bigger question, isn't it? if you speak to egyptian authorities they have been doing everything in line with what their british and international counter parts have asked them to do. they have said there needs to be more done and the egyptians pushed back on that and said ten months ago when the british authorities came down in a regular inspection they were happy with the way things are going. that's the bigger question. right now egyptian authorities telling nbc news that they allowed more of these flights to depart to the u. k. and conflicting reports from easy jet as well. the flights have been put on hold. only two will be allowed to go out today. a lot of rumor on the ground as to what is happening at the

airpo airport. so more answers hopefully coming over the next couple of hours guys. >> hopefully. thank you so much. now before we get to break, we'll leave you with a look at how futures are trading ahead of the open on wall street with two straight days for losses with the s&p and dow yesterday and we are slightly lower, not much action being priced into the open. stay with us on worldwide exchange.

welcome to worldwide exchange. i'm susan lee. >> i'm carolyn roth. these are your headlines from around the world. >> yes it's friday and yes that means jobs data. but is it the data or the date that will determine a rate hike? the latest u.s. jobs report is said to add more clues to the timing of a fed move. >> disney's force awakened as cable delivers better than expected returns and the ceo says hopes are pinned on another blockbuster franchise.

>> we're feeling really good about the year ahead. no guidance for the year. >> shares of syngenta in the green on reports the swiss agribusiness is in talks over a potential tie up with dupont. >> rihanna takes a bow after sportswear brand puma credited her with a spike in women's sales. >> i think they're going to work every rihanna song into the newscast today. >> umbrella. >> shine like a diamond. >> taking a bow. thank you for joining us on this friday. let's check in on the futures picture and what that means a head of the u.s. open since we have two straight at as of losses there and the immied open is telling us we're down once again but we're still on course for a 6th consecutive positive week for wall street.

let's check in on the friday implied open. we're going to be down a point. the nasdaq is looking like it's going to stay steady. not going anywhere at the open today. we have a bit of a winning streak underway. we're up five of the last six weeks as well. so let's check in on the ft ftse mib. that's coming to an end today. we're lower by three quarters of 1%. the german dax by what's happening with volkswagen shares seeing declines for a second or third session. in fact we're lower by a quarter and here in the u.k., the ftse 100 saw that come to an end yesterday. guess what folks this week we saw china back in full market territory. we lifted 20% from those august

lows holding interest rates steady. this is the one to watch so far this week. all of a sudden we back up some 20%. up again on friday. the nikkei 225. japan seems to have dissipated going into the weekend. we still saw gains three quarters of 1%. >> let's get back to our top stories. shares trading higher after reports the swiss agri business is discussing a tie up with dupont's agricultural division. it has an alternative deal with dow chemical which is said to be exploring a sale of its seeds and pesticide unit. the report adds that they have gathered steam since it abandoned it's takeover effort back in august and the rational for a deal, it really hasn't changed. if we take a look at the recent

data u.s. farm incomes are set to fall 36% this year to the lowest level since 2006 so obviously farmers are buying less pesticides. these big six companies that are really dominant in that space they need to team up and cut costs and combine their rnd efforts. something has to give. in monsanto is not going to be part of consolidation maybe it's syngenta and dupont and dow chemical could find a deal maybe they'll be left out in the cold. >> yeah. there's regulatory tie ups to get to. they would control a huge portion of the global market. they would control 27% of global pesticide sales and in the u.s. there's antitrust concerns

because they control 35 of u.s. corn seed and soybean markets. can you imagine getting bigger in the u.s. market in those particular sectors. >> they would be pretty powerful, wouldn't they? >> and i'm sure regulators want to have a say here but if we see these tie ups involving dupont or dow chemical would it please some of the activist investors too because there's a lot of pressure on them. they wanted them to solve the agricultural unit. we even saw the ceo stepping down and the interim ceo, he pretty much said everyone is talking to everyone. so this is the worst kept secret in the agricultural space. >> everything is in playwright now. >> a decade ago these were huge multibillion dollar mergers. what's old is new again. >> might be. >> in the agri business.

>> yeah. >> this year is said to be the biggest for m&a ever really. so when you have cheap debt, debt is cheap and you're looking for ways to grow when economic growth is slowing down. you merge. astra zenica agreed to buyout zspharma. the $90 a share represents a premium of a third compared to yesterday's closing price. shall we check in on the shares that trade in the u.k.? we're seeing declines by .6%. let's take a look at the days other top stories and bill ackman is expressing confidence still in valiant ceo michael pearson. shares fell as much as 20% on thursday to the lowest level since 2013 on concerns over it's business practices. the stock has plunged from $263 a piece back in august to below

$80 on thursday. the journal is reporting he told a board member that pearson may have to go. but ackman believes pearson is willing to take the steps in order to benefit shareholders. he lost since taking a 6% stake in valiant this year. >> attorney general is investigating exxon mobil over whether it mislead the public and investors with the risk of climate change. it centers on whether exxon intentionally hid the risk that climate change could pose to its business going forward and clouding public debate on the issue. the office is conducting a similar probe of peabody energy. trading in german trade we're down by .6%. and men's warehouse is warning it's results will fall well

short of analyst estimates due to the retailers transition away from the buy one, get three free promotion in the joseph a bank division. it planned to overhaul it's marketing strategy anyway as there wasn't enough demand from men wanting to buy four suits at a time but men's warehouse didn't expect traffic to drop as much as it has and consumers didn't want to drop unless they were getting free stuff. look at this, 30% after hours and falling by similar margins in german trade as well. >> toyota is taking a big step with a billion dollars in investment over five years. the president says he changed his mind on the market after getting involved in the planning of the 2020 olympic and paraolympic games in tokyo. the group plans to hire about 200 staff and will focus on ai and big data. susan, still to come on the show, disney put a chill in

media stocks this summer when it warned subscribers may be cutting the cord on traditional broadcast and cable outlets but find out why the ceo is still bullish on the company's cable channels. that's coming up next, don't go away.

shake shack is raising it's

full year revenue outlook again after same store sales soared well above forecasts. the burger chain's profit and revenue also beat estimates. they now expect full year same store sales of 11 to 12% up from previous forecasts in mid to high single digits. shares rose more than 5% in after hours in germany. wow, they're flying high. up by almost 7.6%. to borrow a phrase from the 80s pop group it was a cool, cool summer for disney and other companies after the mouse house lost subscribers at espn raising fears of consumers cutting the cord on traditional outlets but disney's latest earnings are are relating some of those concerns. let's get out to landon with all the details. >> disney reporting it's 4th quarter profit rose 7% beating forecasts. revenue came up short of expectations. the media network saw profits

rise 27% thanks to higher ad revenue and fees from cable and satellite providers. bob iger is sticking with the company's lowered guidance after saying in august espn suffered subscriber losses but iger is still bullish on espn and there's no reason to panic. >> we're continuing to do what we can to make the traditional platforms as successful as possible in this era. we feel good about a number of steps we're taking in that regard. we think there will be more to come but generally speaking as we look at the environment, the opportunities that we have today to distribute our product to reach more people are greater than we have ever seen before. >> still investors are nervous about the threat of consumers cutting the cord or abandoning subscriptions in favor of lower cost options. they site declines in cable tv subscribers but even after the

dip the stock is up 20% year to date. profit more than doubled in the quarter thanks to the box office success of ant man and inside out and digital sales of block busters such as avengers two and frozen. disney's consumer products division posting a 10% jump in profit and that was licensing revenue from avengers and frozen and items tied to the new star wars the force awakens film. it opens in the u.s. on december 18th. it should appeal to both old and new fans. >> we can't believe actually, we're thrilled with the reaction so far to the trailers we've had in the marketplace and i think that's evidencing itself in advanced ticket sales which have been really strong. can't give away any of the plot right now. we're being really careful about that because there's so many

moments in this film that are so exciting and thrilling we want people to experience them for the first time when they go to the movies. >> disney shares fell in after hours but today they're up fractionally. back to you. >> thank you for that. i'm still not sold. i never watched star wars. i don't think that this one -- >> you've never watched star wars? >> no, why is that such a surprise? >> i'm really surprised. seems like everyone on the planet almost has. all right, i'll caveat that. i'm surprised because most people have. but that's good for you because you can enjoy the star wars films once again. >> just looking at that trailer i'm not too enticed by it but it doesn't matter. it doesn't matter whether i watch it or not this is going to be a huge blockbuster film. i will take you. we will go and we will watch the first star wars together. this is the first one that disney has made.

and even though we talk about frozen and star wars for disney, their bread and butter is still cable. cable tv makes the most money for disney. not their theme parks. not going to see the magic kingdom but $4.25 billion in revenue in three months from their cable networks. namely espn which for a long time was just printing money for them but because of as you see stagnant subscriber growth and they're really overpaying now for the licensing fees for the sports leagues, i mean, people are concerned. >> they have to figure out if they want to take it directly to the consumer. in august bob iger said we have no plans to do that but the future for epsn, the jury is still out on that. >> whether it needs to be taken to the consumer or can persist in a skinnier bundle as they call it now. >> yes. >> or different platforms. this is an opportunity for disney to rethink itself as well

because they're now offering the skinny bundle on the playstation view for the first time because people are not going to traditional tv just to watch their channels anymore. it's a whole different environment, right? >> let's talk sports. sheltered by rihanna's umbrella shares in puma are trading higher after it is optimistic on its women's business under new creative director rihanna. take a look at the shares up by more than 3%. the launch of the first payer sneakers by the pop star sold out within hours or days at most retailers. however, puma's net profit fell 31%. the company missed expectations on net profit and sales. this company that has struggled for so long but now they have the right talent in terms of their creative directors on board. usain bolt is also representing

the firm. >> 85 pounds so $120 a pair. >> not too bad. >> but then i was looking at this celebrity shoes and which ones cost more, 120 pounds seems like a steal next to yeezey's for adidas, $250 a pair. lebron james's shoes for nike are $20. that sounds like bargain to me. >> they look pretty good. even you or i can wear them. >> that's true. i'm not sure though that even with creepers in the rihanna design those shoes will look as good as that. at least i'm speaking for myself. let's get to the headlines this morning. happy friday. markets are in wait and see mode ahead of the jobs reports. u.s. futures pointing to a lower open though. when it comes attorneyinto earn

shaken. and transatlantic group astrazeneca buying out zs pharma for $2.7 billion.

♪ there are no medals won for earning a living. it's just what you do for family. but it's hard to build a future if you can't see past today. that's why walmart is investing in the most important part of our company - our people. because a raise in pay, raises us all. ♪ bob dylan. to improve my language skills, i've read all of your lyrics. you've read all of my lyrics? i can read 800 million pages per second. that's fast. my analysis shows your major themes are that time passes. and love fades. that sounds about right. i have never known love.

maybe we should write a song together. i can sing. you can sing? do be bop. be bop do. do be do be do. do do do be do. welcome back. it's that friday of the month. 183,000 jobs in october taking the jobless rate down to 3%. analysts are also anticipating upward revisions to the previous rating of 142,000. susan, how are futures looking ahead of that? >> let's check in on the u.s. futures picture and we're looking at small declines being priced in. check in on the implied open and now that's reversed a little bit but still flat starts. so we're still pricing in 6 weeks of positive gains on wall street. the implied open for the s&p 500

showing we're looking at a loss of 1 or 1.5 points. the industrials kicking off where it left off yesterday. so it's a flat start and the nasdaq seeing some minimal gains of a third of a point. let's check in on the yield curves. we've seen a lot of moves with the testimony on capitol hill this week saying there's a live possibility that they might be hiking interest rates. it's a spike in a two year yield at their highest in four years but we're coming off a little bit aren't we carolyn? >> absolutely. that's very much reflected in the u.s. dollar rates. the tlar is a touch higher in terms of the index. 10870. and in fact the dollar index is only 2.5 percentage points away from the 12 year high we saw in the month of april. >> 13 year highs yesterday. >> finally a quick check of gold prices and wti, brent crude is

up by more than 1% rebounding after yesterday's steep losses. a similar picture for wti crude up by 0.8% and gold even though it's losing over the last couple of days as traders are pricing in an increased likelyhood of a fed hike in december. this morning it's bouncing back a little bit up by .3%. joining us now is the chief market strategist at bulls eye option. what number are you expecting today? and do you think the markets would react badly to a much better than expected number? >> i'm expecting the market to continue to see this upward movement. i don't think we're as data dependent as we think. i think the markets already factored in. there's going to be a rate hike most likely by year end. you've seen the dollar move up and the long-term treasure risk move up as well. and the 30 year. so i think it's a done deal and if we look at this, this is

really just a sequel to the melt up we saw in october 2014. we're seeing this again. the markets rally. they flushed everybody out but the fundamentals never change. corporations have cash on their balance sheet and low inflation so the fundamentals remain in place for this market to continue to rally. >> but what about the liquidity concerns that everyone is talking about in the month of september if the fed actually moves that month? wouldn't that inject a lot more volatility into the market if they actually moved that month and you could also argue that many traders are going to be sitting on the sidelines because they have been trying to second guess what the fed will be doing all year. maybe they're really frustrated now. many for technical reasons are con trained to take part in the trading in december. wouldn't that distort the market reaction? >> well, we're all frustrated. we're frustrated that we've had this discussion for six years. rates are going to go up. that's the reality. the question is when and what

the market reaction is. this has been the most discussed economic fed event in history and it's not going to have much impact moving things. if it happens month after month after month and things quickly move up a couple of percent in the next year or two that could have a longer term impact but this is more symbolic than anything else. the price action is more important. the v recovery we have seen in the s&p back up to this 2100 level. we're looking at 2300 which is 10% higher. everything we have thrown at this market responded resiliently and come back and made new highs. so i'm not expecting it not to do so. if you look at it we're at a nice sweet spot when it comes to the price earnings ratio. we're about 17 right now and it's not too hot. it's not too cold but corporations are doing great. yes the growth has slowed but that's growth slowing. still doing fantastic numbers overall. >> all right. just want to be specific with you because i think the markets

are already pricing in 183,000 job adds for october. is there a number that's good or bad in your view? >> well, numbers are always relative. there's high and low. 200,000 would be a nice healthy number. that's been about the average here and overall as a trader you focus on the trend. not the individual number. the trend has been in place obviously each and every month, every month, every month. yes we had a bit of a pull back last month but you talked about it is important to see what happen with the revision for last month. is it the key i'm looking at? is that can bounce a couple of 20, 30,000 jobs then that shows a real sign of stability. that's a nice sweet spot looking at 200,000 but it's how people react. people will say well the economy is now coming back too fast. it's coming back too slow. it's how people interpret the number is really important. so it's been a million dollar question this last six months. >> just quickly, you talk about

trend, we've only seen 160,000 job adds and the revisions were downwards for the previous two months so aren't the markets being a little too bullish here? >> well, i think it comes back to, you know, the markets are not the economy. the markets are a reflection of corporate earnings and corporate earnings numbers are big even though the growth has slowed back again i can't state that enough. that's growth. we had exponential growth and the growth we were expecting a 4% loss in the s&p and we only get a 2% loss so far with most companies reporting. so we have overcome another hurdle and had a low bar set overachieved and if you look at 216 they're expecting 6 or 7 or 8% growth. >> we're out of time but thank you so much. you have a good weekend. and just a reminder for you, steve is sitting down with the chicago fed president charles evans. that does it for us today. >> squawk box u.s. is up next. we'll see you next week.

bye bye. ♪

good morning, jobs in america. the global markets are on high alert ahead of today's big employment report and perhaps no one is paying closer attention than the fed. media magic, disney posting mixed quarterly results but ceo bob iger says the tv business is strong. those comments are notable after he sparked fears about the industry earlier this year. >> and america's 50 best cities to call home. just being in america is pretty good in itself, isn't it? all the cities. new rankings out this morning. find out if your town makes the cut. it's friday, november 6th, 2015

and squawk box begins right now. ♪ >> live from new york where business never sleeps. this is squawk box. >> good morning and welcome to squawk box here on cnbc. andrew ross sorkin reporting from the opera house here in new york because tonight he is performing -- no, i'm joking. you knew that though because everybody knows he can't sing. actually that's where reason barron is holding court with his investors today. he'll join us in just a minute. looking good there andrew. first let's get up to speed on this morning's top headlines. the october report due at 8:30 a.m. eastern time. the economy likely gains 183,000 jobs last month.