good morning. breaking overnight in dallas. five police officers have been killed in an ambush. we'll have all the latest for you in just a moment. and it's jobs friday. why this post-brexit report matters more than ever. it's friday, july 8, 2016. worldwide exchange begins now. >> good morning and welcome to worldwide exchange on cnbc. >> we're going to have the

latest here on the dallas shooting in just a moment, but first let's bring you up to speed on this morning and the markets as they set up ahead of the big jobs day. u.s. equity futures a us you can see there marginally higher. the s&p up about 2 points the dow up by about 21 and just fractionally negative on the nasdaq by about 1 point as well. if you take a look at what's happening with the 10-year treasury note yield. falling every so slightly ahead of this big jobs number coming up today, sara. >> let's just show you the early action in europe as well. if you look at a broader index, the euro stock 600 heading for a loss. giving back some of the post-brexit gains we saw last week. the german dax up three quarter ks of a percent. italy up almost 2% a 1% gain for

spain. interesting ftse 100 is flat. that has adjusted more on the pound. >> let show you the action in asia overnight. stronger for the fourth night in a row. nikkei closing lower, down 7/10 in the hong kong. >> take a look at what happened right across those asian markets, check out what the happening broader as well. on the energy side we are seeing some green. wti crude the last trade there 45.50 up by about.35. up as for what's happening across the board with the collar overall f. you can take a look at the currency check, euro

stronger versus the u.s. dollar right now. 110.71. that's the last strad there. just plengsed the dollar yen trade. 100.59 yen per u.s. dollar so again some dollar weakness yen strength there. pound sterling, 1.30 what it will cost you to buy one pound. and gold check here because gold has been a focus for this trade since the demand took off. 1357.90. >> now back to the developing sorry overnight. let's get you up to speed. 11 police officers have been shot. five killed thursday night. what is believed to be two snipers who opened fire during a demonstration in downtown dallas. authorities say the gunman fired from an evaluated position on the police in an ambush style attack. this is the deadliest attack on

law enforcement since 9/11. confirming the shooting suspect is dead and two suspicious devices have been found. three people are reported to be in custody right now. protests taking to the sheet nationwide. taking a stance against recent shootings by police in louisiana and minnesota. mayor speaking early on the attack. >> it is a heart breaking morning to lose these four officers that proudly serve suicide our citizens. to say that our police officers put their life on the line every day is no high personally, ladies and gentlemen, it's a reality. of course we're getting more information and we'll continue to update you with the latest from dallas throughout the hour. we're also expecting to hear from president obama this hour.

he's in nato with his counter- parts. we don't know whether or not he will address. what we have been hearing is that there could be some mention. it is of course the biggest story so far in morning. >> he addressed the nation last night before he left on the police shootings. >> absolutely. >> of course we'll bring you the president when he hear from him. >> now, switching gears a bit here. a big item on the agenda and that's the june job's report. expected to bounce back last month with forecast calling for an increase of 165,000 jobs. following the surprisingly weak reading of 38,000 jobs for the month of may. unemployment expected to tick up. average hourly earnings are seen rising. 3:00 p.m. eastern time we get consumer credit figures. a day after danone buys whitewave food, we'll hear from

the ceo of both companies in an exclusive interview. president obama is in warsaw poland. ahead of that americas alliance britain and europe will endure. this might be the most important moment nor the transatlantic allian alliance. he's confidence they will have an orderly brexit transition and as for the relationship with the uk, it is a special one and will endure. he writes, quote, i have no doubt uk will remain one of natos members. he also expects britain to be a major contributor to european security. >> of course big news of the day here with obama in poland for the warsaw summit as well. we want to keep our eyes on the european marktd and european kmifs, consumer confidence in the uk has dropped to a multiyear low after the brexit

vote. a survey by market research from gfk shows moral posing steepest decline in years. permanent staffers hired by recruitment firms fell for the first time. >> which is the concern that hiring an investment would slow on confidence. meantime the justice department reportedly has concerns at aetna's purchase of humana. the deal would combine two of the largest providers of medicare advantage plans for senior citizens. and investors have worried it could pose competition issues. look concerns there the deal could affect competition in the

employer insurance market. this has become very highly politicized. >> of course it has. >> because of that whole medicare debate as well. more stocks to watch today, gap reporting rise in june. the first monthly increase in more than a year. analyst had been expecting a 3% decline. the retailer citing strength in the old navy brand. shows of juneau therapeutics. halted the trial of an experience drug following the death of two leukemia patients last week. another person died in may. all 3 were in their 20s and all deaths linked to swelling in the brian. third quarter sells fell short a forecast. the maker of cleaning and products citing flats in the u.s. >> more stocks to watch,

barracuda networks posting better than expected first quarter results. reoccurring subscription rose 20% and accounts for revenue. >> the pokeman game was launched and is already the number one app in the store. >> price smarts third quarter profit falling 12%. the warehouse club operate says stores were hurt by the devaluation of the colombian peso. >> also watching what's happening with u.s. federal regulators on the health side of things giving elizabeth homes the boot. banned from operating a blood testing lab for at least two years. that's according to news out late last night.

the company has been fined in undisclosed amount and any payments from medicare or medicaid have been suspended, sara. >> uber raising 1.15 billion dollars. the loan is a first for uber. the wall street journal reporting uber will pay a yield of about 5% on the loan. the crucial loan was arranged by morgan substantially, barclays and goldman sachs. >> ga wker. expected to attract several bid erts. filing for bankruptcy last month with a $90 million officer ready from sift date of servivis. potential buyers that is planning to market in an effort

to top that $90 million standing. >> when we come back, we'll get up to speed on the dallas shooting. the details are coming in this morning. we'll share them with you as we get them. we'll also take president obama in warsaw where he is set to speak at the nato conference. we're keeping an eye on the markets. we have results of a survey how top ceos are thinking about the brexit vote and how it's impacting their business. we've got it covered on "worldwide exchange." we'll be right back. with unique features, like claim free rewards... ohh! customized home protection extra features all at an affordable price! i'm going to live in this. in means getting more from your home insurance with an expert allstate agent.

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breaking news this morning. we're monitoring the situation in dallas. protest over two recent fatal shootings. dallas police have confirmed one suspect who was exchanging gunfire with authorities in a downtown parking lot is doed. two other suspects have been found. one person of interest has been released. this is the deadliest attack on u.s. law enforcement since the september 11 attacks. >> we are awaiting remarks from president obama at this hour from warsaw where he is attending the nato summit. in the meantime we're keeping the eye on the markets.

this job friday. british pound getting some relief this morning. the euro also stronger guest the u.s. dollar, but keep an eye on the japanese yen. ever stronger signaling there's a lot of nervousness out there right now. joining us to discuss it is. are you as optimistic as the economist that jobs will rebound. >> it feels like they should. we had distortions last month. it seemed unusually weak. we had a few hits. all of that i think points to a rebound. the curious if i though is even if the numbers are better, do we really believe that is going to drive the feds. we're so fixated on brexit. this absolute fixation is all that matters in the word. this month feels a little bit

weird actually because it seems like a distraction from the other big stories out there. >> one of the issues is the haven assets people are moving to. sara referenced what's happening with the dollar yen right now. one is winning out right now. do you think that kind of environment that we're in right now lends itself more to that yen strength as we see it going forward. >> yes, i think so. that's going be the pressure. traditionally the yen has outperformed the dollar in periods of anxiety. another safe haven that gets talked about a lot is gold. it's up again this week. six weeks running gold has been up. the great thing about gold is no one intervenes. this is with talking point at the moment. >> hsbc: we have been calling every figure for the last 15. hand up on that one. we've been premature.

you can hear in terms of rhetoric. there is a discomfort let's say with continued yen strength and, certainly, among the corporate structure in japan. >> what if there is not a rebound in the jobs today. what if he shows more weakness. >> this is difficult. you have this kind of i would say three outcomes. broadly in line everyone goes okay. that's okay the u.s. is doing okay, but the fed doesn't need to hike. thatst the best scenario. if you get a very punchy number. slightly ambiguous, hold on the fed might hike, but a weak number is when you get nervous. >> this is you said one piece of data. what would you need so see from a strategy stant poind to get the fed a yellow to green light on rate hikes. >> the employment has been the

key pinch point for the feds. you need a sequence of comforting numbers on the labor. that's been the area of doubt about the economy. beyond that, you want to see the global economy itself isn't going to be tripping up the u.s. economy. you want to see how the negotiations involve on brexit. many moving parts here. this is a difficulty for the fed. >> in this global economy, the u.s. again looks like the best house in a bad neighborhood. our economy is standing up. we've seen the services numbers, adp numbers tell that story. do you buy the dollar? >> no. the difficulty there is buying the dollar, look the u.s. economy is doing better. ultimately the fed are going to raise rates at some point. 4% move in the dollar is a 25 basis point hike. we had a 4% move in the dollar

in 24 hours if you like, 36 hours. that's the difficulty. ting dollar is kind of trapped and the big swing factor in currency comes from outside of the u.s. comes from japan, comes from banks. >> thank you for coming in and talking jobs. when we come back here on worldwi worldwide exchange we'll have the latest updated for you on the police shootings in dallas. we're also waiting at this mower hour to hear from president obama. there he is. >> thank younger for the opportunity to meet today. i want to begin with a few words about the situation back in the united states, specifically the situation in dallas, texas. my team has been keeping me updated throughout the morning. the evening in dallas.

i spoke this morning with mayor reca to convey the deepest condolences. i told him the federal government would provide whatever assistance dallas may need as it deals with this tremendous tragedy. we still don't know all the facts. what we do flow is that there has been a vicious, calculated and despicable attack on law enforcement. police in dallas were on duty doing their jobs keeping people safe law enforcement officers were tacted and nearly a dozen officers were shot. five were killed. other officers and at least one civilian were wounded. some were in serious condition and we are praying for their

recovery. as i told mayor ra wlings, i believe i speak for every american when i say we are horrified and we stiend together and the people and the police department in dallas. according to the police, there are multiple suspects. we will learn more undoubtedly about their twisted motivations, but let's be clear, there's no possible justification for these kinds of attacks. or any violence against law enforcement. the fbi is already in touch with the dallas police and anyone involved in these senseless murders will be held fully accountable. justice will be done. i will have more to say about this as the facts become more clear. for now, let me just say even as yesterday, i spoke about our need to be concerned as all

americans about racial disparities in our criminal justice system. i also said yesterday that our police have an extraordinary difficult job and the vast majority of them do their job in outstanding fashion. i also indicated the degree in which we need to be supportive of those officers who do their job each and every day protecting us and protecting our communities. today is a renching reminder of the sacrifices they make for us. we also know that when people are armed with powerful weapons, unfortunately it makes attacks like these more deadly and more tragic. in the days ahead we're going to have to consider those realities as well.

in the meantime today our focus is on the victims and their family. they are heart broken. the entire city of dallas is grieving. police across america, which is a tight-knit family, feels this loss to their core. and we're grieving with them. i'd ask all americans to say a prayer for these officers and their families, keep them in your thoughts and as a nation, let's remember to express our profound gratitude to our men and women in blue, not just today, but every day. with that i want to thank president tusk and youngerjunck our meeting comes at a critical moment for the european union. the vote in the united kingdom

to leave the eu has created uncertainty. this has led some to suggest that the entire et fis of european prosperity is crumbling. some have been questioning what does this mean for the transatlantic relationship. let me just say as often the case in moments of change, this kind of high personally is misplaced. i want to take the opportunity to reaffirm some basic points that bear repeating. first on me recent discussions with prime minster cameron, merkel, askand now here today, confident the european union and the uk will work together in a fashion to ensure that the uk's transition is orderly and smooth. no one has an interest in protracted adversarial negotiations. everybody has an interest in minimizing any disruptions as

the uk and the eu forge a new relationship. second, even as we face the difficulties of this moment, we cannot lose sight of the extraordinary achievement that european integration continues to be. more than 500 million people speaking 24 languages. 19 with a common currency. every member of the eu is a democracy. no eu country has ever raised arms against another. an integrated europe is one of the greatest political and economic achievements of modern times. this is an achievement that has to be per sreserved. third, the yietunited states ha strong and enduring interest in democratic europe. we're bound together by history,

family and our common values, our commitment to democracy, plurism, human dignity. our economies are deeply woven together. the security of america and europe is invis nl and that's why for nearly 70 years the united states has been a strong champion or european integration and we will remain so. european countries are and will remain among our closest alleya and friends and europe is an indispensable partner around the globe. as we manage brexit, the work today shows we're going to continue to be focused on pressing global challenges. we agree the united states and the eu can do more together for

shared security and we'll keep working to provide each other information, to stem the flow of foreign terrorist fighters and prevent terrorist attacks and do so in a way that continues to protect privacy and civil liberties as the global coalition push es ie sol back o the ground in iraq and syria. help sure up the iraqi economy and stabilize communities and as nato nations affirm their commitment to afghanistan security, i want to commend once again the eu for taking the lead in mobilizing national lead for development in afghanistan. here in europe we'll continue to support ukraine as it undertakes political reforms. the u.s. and eu are united maintaining with russia until they fully implement their

agreements. and with president tusk and you juncker we have an opportunity to further opportunity between nato and eu. we have to address frustrations and anxieties of many people. feelings that undoubtedly contributed to the brexit vote. fears they're being left behind by globalization and economic integration. our governments, including the eu, cannot be remote institutions. they have to be responsive and move more quickly. in particular we discussed the importance of public investments like infrastructure. to stimulate growth and job training to help reduce unequality and unemployment, especially for young people here in europe. that's been the right thing to

do for years, both for the long-term and short term, but at a time when heightened uncertainty in the global economy is amplifying the headwinds we all face, the policies make even more sense today. we're going to keep working to help europe enhance the energy security with more diverse and resilient supplies, including from the united states. while we are mindful of the challenges, we are going to continue to pursue a transalantic trade and partnership. to help reinforce the large erp trance satlantic relationship. finally we're stepping up to cooperate on global challenges: i want to take that opportunity to commend the eu for the generousty and compassion that so many eu country haves shown desperate migrants. we believe nato can do more.

i expect the eu to play a major role at our refugee summit this fall at the united nations where we aim to secure new contributions to address the global refugee crisis and with respect to the threat of climate change, we look forward to all countries ratifying the paris agreement and eu joining in. we continue to see the eu as one of our strongest partners in reducing emissions phasing out dangerous hfc and investing in clean energy. so again, i want to thank donald and juan claude for our work together. despite the challenge at moment, i'm pleased to see that the united states and the eu continue to deepen our partnership. the world needs a strong prosperous democratic and united europe and in that cause, you will always have a strong and steady partner in the united states of america.

thank you very much. >> president obama speaking in warsaw poland. that is the sight of the nato meeting. he's there to talk about brexit and the security, but it is the first time he's addressing the deadly situation in dallas where 11 police officers have been shot. five have been killed in the tlas attack. president obama calling the attack, quote, vicious, calculating and despicable. saying that america is horrified over the shootings of the police officers in dallas. there is no possible justification. >> right. >> he says let's remember to thank our men and women in uniform today and every day. they have an extraordinarily difficult job. so emphasizing his support for law enforcement. he said he spoke early this morning with the mayor of dallas. expressed condolences and going to speak more about it when he learns more information. he says it is a wrenching

reminder of the sacrifice police make for our country. >> absolutely. those are the things we have to focus on right now. the latest developments or comments from president obama. also want to bring you up to speed about some of the facts we know right now. the dallas police department confirming a shooting suspect is dead and two suspicious devices have been found. three people are reported to be in custody protesters taking to the streets nation-wide on thursday. taking a stance against recent shootings by police in minnesota and louisiana. dallas mayor speaking earlier this morning on the attack. >> sit a heart breaking morning to lose these four officers that proudly served our citizens. to say that our police officers put their life on the line every day is no high per bli ladies

and gentlemen, it's a reality. >> as we mentioned president obama just addressing the situation a few moments ago from the summit in poland. >> i believe i speak for every single american when i say we are horrified over the events and we stand united with the people and the police department in dallas. >> we'll continue to monitor the developing story for you and bring you developments as soon as we get them on what is a difficult day in dallas and for the country. we also do want the keep oon eye on the markets for you. we are cnbc. it is jobs day and we are looking at futures on the move right now. following gains in europe. dow futures are higher. up 25 points. s&p futuring up 3. nasdaq up one. economists are looking for about 170,000 jobs create in may. important because we only saw 138,000 last month. that was a huge disappointment

raising concerns. >> you can see the market hoeltding very steady. very steady against slowly approaching that number here. not a lot of action. we'll see if that changes with the number. of course one big item on today's economic agenda. that is the granddaddy of them all. forecast calling for an increase of 165,000 jobs. following like sara said that surprise comply weak reading of 38,000 jobs back in may. average hour ri earnings are seen rising. at 3:00 p.m. eastern time we're going get more data on consumer credit figures for the month of may. as well. danone struck a deal to buy whitewave foods. we're going to hear from both companies in an exclusive interview at 9 a.m. that one you don't want to miss. is the stakes are high

considering all the macro headwind and uncertainty over brexit. joining us in studio with what to expect, patrick o key. >> good morning. thanks for being here. >> what are you expecting. do you agree with the economist we'll see a rebound in may. >> we will see a rebound. we have to keep in mind is about 25% of that rebound will represent striking workers having gone back to work. >> the verizon work sglers yes. it will be another if you extract that out, it will be another month in which the jobs gain is less than what the trend has been. in the last seven months we've seen the month on month increment decline going all the way back to november. so february was the only exception. we'll get a little bit of an exception this month because verizon workers going back to work. >> the question that many

americans have right now are centered on whether or not the job gains are slowing, but is it enough to really prop up the economy of the u.s. vis-a-vis every other economy in the world. is it of your opinion that the job gains we're seeing are still adequate or should we be worried about the trajectory of the u.s. economy. >> i think at the current level of 160,000 or 140,000 net, that's not sufficient to keep the unfloimt rate from drifting upwa upward. let's say 175,000 on average. that would be enough to keep on the overall growth in the labor force. >> it has been a remarkably resilient market. do you expect it to hold up post-brex post-brexit. >> yes, i don't see anything that is going to tip us into

recession. i think the pace of growth is not going to accelerate as much as we would like. we'll probably continue to get gdp around 2%. it will be a lackluster expanding economy, but that is better than -- >> does that mean the market has it wrong in the view the fed is not going to raise interest rating this year and possibly next and now they have a new excu excuse. >> what the fed is going to do is a mystery. they too themselves don't know what they're going do. they can't agree, legitimately can't agree to what the underlying economy is doing. >> are there signs from the small and perhaps medium business side of things that there maybe is optimism about what is happening right now. is the economy good enough for the time being? we know what the stock market is saying, but do you get a sense there's anything different from the small and medium size business owner in america. >> the sentiment indicators do

suggest small businesses in the population at large are feeling okay. they're not exuberant. they're not threatened. >> in fact, president obama to your point, sort of addressed this when he moved on to talk about his discussions with his european counter- parts, fellow european leaders. talked about brexit and what it means. had to address the frustration and insecurity people are feeling economically. they feel they've been left out on both sides. that's why brexit happened. how strong is that feeling do you think in the united states. >> i would bring a labor statistic too it and that is the labor force participation rate. we have an extraordinary low participation rate and when you look at the millennials coming in, their participation is much less than we would expect. that's an expression in action

of frustration with current conditions and with what they see as their prospects going forward. >> we are seeing wage gains. >> modest. >> not enough. >> yes. it's okay. >> you don't expect it to continue? >> we were looking for what has been going on. we're not looking for a breakout there. we have a lot of surplus potential surplus job seekers that are not in the job force. if activity picks up, they will come in. >> any other indication right now as we head forward to the stekd half of the year. is there any indication we could see real tail winds for the u.s. economy. >> i don't see one. i don't know what external factor would cause the household sector to really increase demand and that's two-thirds of the economy. >> patrick o key of cone

resident nick. we'll have the latest for you on police shootings in dallas. plus, president obama speaking just this morning on the attack saying america is horrified over the shootings and there is no possible justification. we'll get you up to speed when "worldwide exchange" comes back.

>> killing five officers and injuring six others during protest over two recent fatal shootings of african-american men. dallas police have confirmed one suspect who was exchanging fire with police in a downtown parking garage is dead. three have been taken into custody although one person of interest has been released. this is the deadliest attack on u.s. law firm since the september 11 attacks of 2001. organizers of the protest say they will hold a news conference at noon eastern time today to denounce thursday's violence, sara. >> we heard from president obama just a few moments ago speaking in warsaw poland. he was attending the nato summit. he did address the dallas shootings. he called them vicious,

calculating and despicable. he said america is horrified and no possible justification. he also took the opportunity to thank our men and women in uniform and said today is a wrenching reminder of the sacrifices police make for us. he was there, i mentioned to talk about nato to talk about the security of the world. i did pick from president obama in the financial times which you will find in today's paper. titled america's alliance with britain and europe will endure. this is why he was there to make the point this may be the most important moment ever for our transatlantic alliance since the end of to cold war. he's confident that britain and european union will have an orderly exit. he said he expert testimocts bre

a major contributor. >> he addressed the attacks as well. he spoke about those things though the eu and brexit points. he also said he expects the eu to play a bigger role in the global refugee crisis collaborating where the united states in those efforts. a lot of globalization. >> it shows concern on the part of the united states and on the part of europe on britain. this is an unprecedented uncharted territory as they try to negotiate the future relationship between the uk and the eu and one of the fears leading up to the brexit vote was what would happen with the uk relationship with the u.s. in terms of security and intelligence sharing. we face enormous challenges when it comes to terrorism and international security. obama trying to ensure we need to stand together and it's going to be tricky to figure out.

>> and not just president obama. you see leaders from all over the world weighing in. not going to be a gap. still going to collaborate on things like intelligence. >> my morning must read here in the united states is from the usa newspaper. called comey might have gone too far. quote, it is not generally the job of an fbi director to describe and assess. nor is it the job to make delicate judgment calls as to whether a prosecution should be brought. that decision is usually left to experienced prosecutors. now, of course. this is all in regard to what happened with hillary clinton and the decision by director comey of the fbi to not prosecute or pursue charges in what many say is again possibly at least very negligent activity. >> i have a mixed reaction in

terms of his testimony yesterday. some saying he did a great job. he defended he was unbiassed. you picked one. both sides that criticize him. a lot of moving part this is morni morning. we are approaching the top of the hour. we are getting ready to hand it to the team at "squawk box." >> when you wake up morning, there are certain days we have the big jobs report and, you know, we would never ignore general news, but there are daying i feel like crawling back into a business news perspective. these things that are so disturbing. just the initial incidents with the two deaths followed by this, it makes you want to worry about the country in general. i was going to cessay say, you'

noticed the opinion sections are different in different papers. you may see one take in the wal strel street journal. >> you remind me every day. >> i like you picked the usa today dom. sort only throw them a bone. i always feel after i read it i need to read something else quickly. i actually need to read something substantive. no, that's a good paper for o'da daily paper. we're so worried about covering this jobs report today, we have steve himself. are you doing your work to come up with the number? he does his work and like the number its, the standard deviation, gets you close.

sometimes you're way off, other times you're exactly right and i'm wondering after the last couple of weak reports, we're due for a good report, especially after adp. i want steve to work on how many reports do we have before the election exactly so we have today, we got -- this is june. then we have july, august, september, will we get october before the election? will you check that for me? and sara the point i'm making and dom, when do we start seeing the big numbers. to get the most bang for your buck to sway the election, when do we get the big 400,000 numbers dom? when would you do it? when would you? would you start now or too early. >> it's a conspiracy theory we're not going to go there with you joe. >> i'm not an expert. i wish i knew. >> nobody is an expert on this.

obviously, but i'm just wondering if you were going to get the most bang for your buck, whether you start now or in a couple of month? can we talk about that steve? >> we can. steve is an expert. >> when we come back, it is jobs day and we'll have expert commentary to help you get ready on what to spexpect. also we have the latest for you on the dallas shooting. we'll be right back. of their business was tellers. then atm's. today it's their mobile app running on the ibm cloud. across every transaction, the hybrid cloud helps their data move quickly and securely. our clients are building out features and pushing updates faster, on five continents. with the ibm cloud, they can move at the speed of any start-up.

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are you kidding? wash it? let's wash it with febreze. for all the things you can't wash, use febreze... ...fabric refresher whoa hey mrs. walker inhales hey, it smells nice in here and try pluggable febreze, with up to 4 times the freshness... ...in one refill. pluggable febreze and fabric refresher... [inhale + exhale mnemonic] ...two more ways to breathe happy welcome back. we're monitoring the situation in dallas with five officers were shot. president obama speaking earlier in warsaw poland on the attacks. >> today is a wrenching reminder of the sacrifices that they make for us. we also know that when people are armed with powerful weapons,

unfortunately it makes attacks like these more deadly and more tragic. >> dallas pd confirmed one suspect is dead. two suspicious devices have been found. three were taken into custody although one person of interest has been released. >> all right. we're going to keep an eye on the developing story for you bringing you all the details. we are also going to get you ready for today's job report which is the key event in the market here. economist are expecting 170,000 jobs to be added in the month. are we going to see a rebound. here to discuss, president of bunny strong. former adviser to the u.s. fed. and chief u.s. economist. you're at 170, right on consensus. >> that's right.

>> how much is the fact what the verizon striker we have that issue over with and how much is it a rebound from a lousy month. >> the verizon strike didn't make that much divs. you had 35,000 or so strikers. i think what's important is that when you look at other indicators for the month of june, when you look at the unemployment claims, when you look at the surveys, they're telling you we had a snap back. >> so danielle, you saw that great number. we know the number the previous month was terrible. else what else is there that would sway policymakers that maybe a rate hike is in the cards. is there anything that can create a positive story. >> i found to it be puzzling that she said she perceived the may report to be transitory in nature. that's the word she used. given in 2014 we had an average

of 250,000 jobs per month. forget about may. in an economist speed there's a definitive slowing trend we've been seeing for some time now. given she said it's transitory tells me the fed is still looking for a reason to hike rates. >> if it's above 100,000, isn't that enough. >> that's what we've been told is the new normal. years ago it was 150, 175,000 was the required as break even level. >> there's been an argument made, job gains, although they've been slowing, have been stable and stable enough the u.s. economy can be supported. also the housing crisis v volatility is at the lowest we've seen in decades. >> well, i think the most

positive possible thing that happens is on the housing side and what we saw this spring were really super home sales. that items us we're seeing a pick up in household formation. which can be a very important positive for the economy at a time when there's a lot of worries about what brexit means for us. >> do you think the fed is going to use the brexit excuse to not raise rates. >> for the upcoming july meeting if you look at the world uncertainty used in the minutes, it speiked and this was well before the brexit vote came into play. i think they'll pounce on the uncertainty and the mood. and be on hold come july. >> do you agree. >> i think, yes. at the july meeting they're on hold. i do think they're going to go at the december meeting. >> all right. thank you guys both. thanks both of money strong.

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p[0jop[- good morning. sit a tough morning again. t overnight. five police officers killed and six others wounded. an attack in dallas. carefully planned and executed. meantime it's jobs friday. we'll find out if hiring picked up. and the latest from the campaign trail, trump meeting with top gop and new rumors bernie sanders is prepared to endorse hillary clinton. it's friday, june 8, 2016 and

"squawk box" continues right now. good morning, welcome to "squawk box." breaking news in dallas overnight. 11 law enforcement officers were shot. five of them died after two snipers opened fire from elevated positions during a protest march of recent police shooting deaths. tleel people in custody. changed gunfires in a parking garage downtown. the fourth suspect had been neutralized. that suspect told police there were bombs in the parking garage and downtown. two suspicious devices were found. here is how police chief responded when asked in suspects wereor