harvey shutting down the main pipeline carrying fuel from texas to the east coast. the market impact straight ahead. behind the wheel the new ceo of uber makes a bold promise. and changes at the house of mouse. why some major cost cuts could be on the cards. it's thursday, august 31, 2017, "worldwide exchange" begins right now. ♪ >> good morning. welcome to "worldwide exchange." >> when you get a card and you

see it's the ace of hearts s that embedded on the cards >> when something is coming in the future, it's in the cards. i'm sara eisen >> i'm wilfred frost we're continuing our iciness from "power lunch. it's warm and loving >> i missed you in the early mornings >> let's check in on the global market picture futures, coming off a decent day yesterday. small gains led up by the nasdaq tech sector, the best performer in the s&p positivity despite negative headlines in the course of the week the dow 45 points higher the s&p 5. nasdaq 15. the real take away, the dow and nasdaq in positive territory for the month of august. the month that's been framed by commentators as being negative, showing signs this market is due a pull back, yet we are positive

for those two indices for the month. 8 out of 11 sectors are negative for the month of august, utilities is the best performer, the boring safe haven sector which points to the fact that it's not been a gang buster month. >> not to pick on you too much, the dow is up 0.01%. >> i know. the whole point is this has been a terrible month we are sitting here without too much decline at all. ten-year treasury note, which in the middle of the week fell to the low of 2.08%, recovered but not much 2.15%. chick news china's official manufacturing pmi topping forecast, but the services pmi softer than expected japan's industrial production fell more than estimated and south korea's central bank

kept the key rate unchanged. the shanghai comp closing flat south korea closing with a loss of 0.4%, but the nikkei surged 0.75%. getting eurozone august numbers as well. flash cpi up 1.5%. >> the estimate was 1.4% prior reading was 1.3. inflation in europe in terms of the cpi read peaked back in february it's been declining since this uptick is encouraging. i've been pointing to that as to whether we see the euro continue its recent rise this week, and the fact that the stronger currency might weigh on cpi further. the fact this has come in ahead of expectation is interesting for the ecb to keep an eye on. >> just a quick check on the early action in european stocks. looking better than some losses we saw in asia overnight half percent gains from the dax to the france cac, ftse 100 as well all going strongly.

the gl the dollar getting a boost against the euro >> about a percent of gains for france and germany for the month. ftse flat. the nikkei is down 2% for the month. china and hong kong up 3%. this risk off summer -- >> emerging markets have been extremely strong that's been a buried under the cover story. that's where the flows have been going. >> which is often the case when you have a weak dollar trend, which is the case for most of the last four, five months now actually not for august. we're flat >> oil prices have been front and center all week long and crude is up 0.75%. wti at 46.1. energy has been the worst performing sector quite comfortably on the s&p gas prices jumping again today we'll have more on that pipeline shutdown in a employment

up 4% in light of that news. dollar board, big move up yesterday for the dollar index up 0.7%. that's taken the broad index just positive for august this would break a five-month losing streak for the dollar, which is big news. perhaps that means the dollar weak story of 2017 may be coming to an end. the euro 0.2% jump off the back of that cpi reading. just negative beforehand the dollar slightly higher against the yen and the pound. gold prices to round things off, a good month, up nearly 4%, ending the month on a negative note >> another down 8% month for the price of oil which is sitting lower again after harvey we following the deadly storm. harvey weakening to a tropical depression last night. 28 deaths have been attributed to the storm harvey dumping about 50 inches of rain on houston texas governor greg abbott says around 32,000 people remain in

shelters officials estimate as many as 40,000 homes may have been damaged in houston in harris county alone economists forecast the total losses ranging from $48 billion to $75 billion. we talked -- not to make it all about the economy, obviously the human life and some of the displacement of people is the top story, but when you talk about what it means for the economy, we spoke to a number of economists yesterday and strategists, the consensus was short-term you will see a dip in the data from the loss of activity and store closures, and the refinery closures. llgt th long-term this is a major rebuilding effort. fourth biggest city in the country. there's going to be a lot of money that has to pour in for construction that could ben git t benefit the builders and home depot and lowe's stores.

>> that job creation f it ne, i needs to be filled quickly, does it come from abroad other here and it needs to be funded. the difference this time is so much of the damage has been done by flooding. so much of that is not covered by private insurance so footing the bill is the federal government that's a question that can pile into all sorts of political issues, if people are happy to fund it. it seems likely they will be >> absolutely. the arkema chemical plant in crosby, texas is without power and the company warns it is likely to catch fire and explode within the next few days there is nothing that can prevent this from happening. earlier this morning a black plume of smoke was spotted over the factory. firefighters have since moved journalists about two miles away from the facility.

the main pipeline carrying fuel from texas to the east coast is temporarily shutting down because of harvey colonial pipeline is the biggest transporter in the nation, with gasoline, diesel, jet fuel lines, says outages at supply points and a lack of refiners has contributed to the shutdown. as we look at the impact on energy prices. it's been a story of soft energy prices, wti up 0.30% there is rbob at the bottom, pump price, 4.3% higher. gas prices up for the eighth day in a row >> another quick point about wti for the month of august. down 8% for the month. that comes during a soft dollar summer when we have seen metal prices absolutely soaring. so many people put the soaring of iron other, aluminum, copper down china demand. something i don't buy.

yes, china is dealing with this lowering of credit better than some expected. the gdp holding up, but it's not like it's embarking on a massive building boom. i think it points to supply issues once we get through the issues of the storm and past summer driving season, i think it bodes poorly for oil prices, it's much less supported it hasn't risen with the soft dollar the way the metals have >> also hasn't risen in the face of exploration and production shutdowns in the gulf of mexico. now we're such a big producer, diversified as a country, the refinery shutdowns are increasing demand and causing concerns about gasoline shortages. interesting dynamic for sure to keep an eye on a delaware court has given travis kalanick a legal win. the judge sending a benchmark capital lawsuit against kalanick

to arbitration rather than having it play out in open court. benchmark is a major uber investor it sued kalanick after helping out him as ceo claiming he defrauded them. the group wants kalanick removed from the board kalanick claims he is a victim of slandery from disgruntled board members. now they have a ceo, that everybody is praising as a good candidate, dara khosrowshahi, the question is what happens to kalanick does he remain on the board? >> if you're on the full ft service and you get the lex column, they say they should rush an ipo and do it within a couple months because of valuations, the fact that snap got theirs away, people like the tech industry. >> they don't think they should wait to fill up the cfo, coo

positions. >> as soon as plausible and you can paint a positive picture >> the new ceo did talk ipo yesterday. this all comes as uber's new ceo gets down to business. landon has the details of that >> reporter: at an all-hands meeting in san francisco, dara khosrowshahi said something that was music to the ears of investors. he said he believes that uber should be public and that we could see an ipo timeline of 18 to 36 months the ridesharing company has a evaluation of $68 billion. khosrowshahi says he plans for ub toer to pay the bills, but dg that filling a slew of executive position they have been without a chief financial officer and a head of finance for quite some time. arianna huffington tweeting this

photo from the meeting saying a special selfie at end of a special all-hands this as the uber board selected khosrowshahi from expedia who will officially take the helm at uber next tuesday. a lot on his hands guys, i'm officially like the uber reporter nowadays >> there's been so much news, you delivered it expertly as always. expedia naming a new ceo to succeed dara khosrowshahi. the cfo, mark okerstrom will take the top john b. okerstrom will take to us this morning. i wanted to come back to a side point about these ceo merry-go-rounds.

someone has an impressive job as ceo to make that worth while >> he stands to make a lot when the company goes public. >> absolutely. but it's an expensive proposition. >> he was in 2015 the highest paid s&p 500 ceo stocks to watch today, workday reporting second quarter earnings and revenue that topped forecasts. the company raised its outlook for subscription revenue this year on "mad money" the ceo said the company is entering the next level of involvement with multinational companies. >> so our math is at 30% of the fortune 500 has chosen workday 50% of the market of those fortune 500 companies haven't made any decision yet. but from our math, we're the clear leader in the fortune 500 segment and likely in the fortune 50 segment as well, but there's still a lo of market opportunity in front

of us. >> shares of workday up a fraction. shares of semtech down sharply. second quarter earnings beat forecasts but the revenue was shy of estimates it's down 14%. box reporting a narrow second quarter loss. revenue beat forecasts, but billings growth was slower than the same period a year ago it's down 4% the ceo will be on "squawk alley" at 11:00 a.m. eastern time. costco says same-store sales rose more than 7% in august topping estimates. excluding gas, sales rose about 6% this month. costco included its online sales in its release noting they jumped 26% worldwide. shares of five below are higher today they reported better than expected second quarter results.

an pernod ricard reporting a rise in full-year net profit with better demand in the u.s. for whiskey, a return to growth in china and tight cost controls the owner of absolut vodka targeting profit growth of 3% to 5% in fiscal 2018. a number of big banks are teaming up for a new digital currency we'll tell you the details. first as we head to break, check out the u.s. dollar this morning. we're seeing it a bit softer against the year ro pushing towards the 1.19 level

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your voice is awesome. the x1 voice remote. xfinity. the future of awesome. welcome back to "worldwide exchange." making headlines this morning, six of the world's biggest banks are joining forces to create a new digital currency the financial times says the currency will be used forever clearing and settling transactions over blockchain ubs created the utilities settlement coin. barclays, credit suisse, hsbc, mufg and state street joined the project. the firms are in talk with central banks and regulators with the goal of taking the currency live in a limited way a threat to bitcoin with the same underlying technology if it came together with some of the benefits of bitcoin but that slightly more official feeling

backing, it could do well. >> sure. >> we have to see. >> as far as money transfer and a cheaper way to do transactions a less anonymous cryptocurrency. >> the blockchain backing behind it is a factor >> the game changer. in geopolitical news, this morning we continue to monitor escalating tensions between the u.s. and north korea chery kang joins us from seoul with the latest. good morning >> reporter: good morning. so the joint military exercises, one of the two major ones that happen every year between south korea and the u.s. wrapped up as scheduled. and to mark the last day of this ten-day training, a south korean military officer confirmed with nbc that the united states flew two b 1 b supersonic bombers and

two f 35 jets. it's part of that training that north korea gets upset with. the pattern had been in the past that seoul and washington would conduct the drills, these war games, and pyongyang would get upset to fire a missile or two or some kind of provocation. and when these war games come to an end tensions have been dialed down experts agree this time around things will be different just because north korea hat need to keep testing its missile technology, especially with 2017 being a bann ener year for its missile technology back to you. >> thank you very much british prime minister theresa may is in japan today to talk trade akiko has more on those talks.

>> we expect a press conference to kick off in about a half hour from now between prime minister theresa may and shinzo abe today prime minister theresa may saying there is a powerful vote of confidence in the uk, bshinzo abe saying he had trust in the post-brexit uk, but they need more security because they express concerns surrounding brexit negotiations. already some of those companies have started to leave. in the financial sector, those like nomura and mufg announcing they plan to move european headquarters away from london after brexit but manufacturers have been more hesitant on that front we spoke with the toyota chairman yesterday who said access to the single market

would be key to determining their long-term future we have heard from theresa may on this visit, she has tried to quiet concerns she talked about moving forward with a free trade deal between the uk and japan two year fwrs now, just one issue she raised but we will watch for that press conference kicking off a half hour from now. >> just to switch focus, the nikkei ending the week on a positive note. it feels like we have already forgot been that missile test. is it fair to say the reaction is much more muted in japan than the kind of fear factor here in the u.s. over that missile test? >> well that did raise a lot of alarms on monday when -- or tuesday here in tokyo when that missile was launched you know, japanese have gotten used to these missile launches, the late of the ost one was a h

that has been a focus of the trip for the prime minister. she spoke earlier today saying japan is the uk's number one security partner in the region she also said she believed china needed to do more to rein in north korea's missile program. >> any idea where the japanese businesses who are bailing from the uk are going >> well no mur ramura said theyd to move to frankfurt and mark ufg to amsterdam nissan said they are committed long-term. toyota, y recently invested in a plant, but stopped short of expressing a long-term commitme commitment they're looking to see what the trade terms will be before they decide on the future >> akiko, thank you very much for that the other news out of that was that theresa may was asked yesterday how long she wants to stay on, she said clearly i will

lead the conservative party into the next jen lagsgeneral electin clearly she had to say that. and she had sea urchin >> traditional japanese -- >> sushi >> the pound is also soft this week because of brexit talks >> yeah. coming up, tax reform, trade talk and a ticking clock, that's straight ahead. first as we head to break, the ten-year yield around 2.15%. for your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish,

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harvey downgraded. the storm weakening to a tropical depression a live report on the aftermath straight ahead. gasoline still spiking harvey sending prices higher as it takes down a huge chunk of u.s. refineries. and uber's road map. the company's new ceo has big plans for the ridesharing company, including an ipo. it's thursday, august 31, 2017 you're watching "worldwide exchange" on cnbc. ♪ good morning welcome back to "worldwide exchange" on cnbc. i'm sara eisen >> i'm wilfred frost good morning to you from me as well >> final day of trading for the month of august, a positive one for the dow and the nasdaq >> just. >> especially for the nasdaq,

just for the dow and not for the s&p this morning it looks like positivity all around. dow futures up 44 points s&p up 5 1/2 s&p up 14. big move higher in the nasdaq yesterday, especially a 1% gain there led by biotech and other tech stocks like amazon and microsoft. ten-year treasury note yield sitting around 2.15. we're off the lows of the week and the year which were below 2.10, not much to speak of got a jolt yesterday after that revised second quarter gdp showed 3%. the name of the game has been lower yields we'll see if we get more ticks higher that helped groups like the financials in yesterday's trade. >> financials still in negative territory for the month of august as a whole. energy very much the worst sector for the month down 6%. oil is falling sharply asian equities, the nikkei bouncing back a bit. negative for the month as a whole. hong kong down 0.4%.

has had a good month of august european trade for you, which had a decent bounce back early in the week has continued that up 0.6%. germany and france a percent for the month coming into today. the ftse 100 flat for the month. ending on a positive note. >> oil getting a bit of a reprieve this morning after dropping below $46 a barrel for wti. up to 46.12. still down 8% during the month of august. brent crude continues to outperform this has been the hurricane harvey dynamic less demand for the u.s. oil and more for the international increased that spread between the two. as for the u.s. -- also let's show you gasoline. surging another 4.3% that's the pump price it continues to go higher there is the currency board. pi firmer euro, stronger dollar

the dollar pretty much stopped weakening as much as it has been that was an important signal wouldn't call it a new trend of dollar strength, but something to watch as that weak dollar dominated the trade all year long >> it's an interesting thing to point out. have we seen in the short-term the dollar weakness pass us by the euro is an interesting one to watch inflation came in better than expected 1.5% versus an expectation of 1.4. july reading 1.3 it peaked in february. had been declining since this is the first uptick back down to flat for the day. that points to even though they have a positive reading in terms of inflation for the euro today, quickly that slipped away it has had such a good run over the course of the summer maybe we have reached the kind of nadir of the dollar for now >> the euro, just when you think it's down, it gets a burst of resilience. >> i wonder whether we will see

tightening or tapering from any central bank before we see it from the fed yes, we push back expectations in the fed, but who's really ready to get on with that? yes, we have seen inflation pick up, but 1.5%, still below the 2% target >> gold prices on the flip side, remain near multi month highs. they're off by a quarter percent. still above $1300 an ounce. we continue to follow the deadly storm hitting the coast harvey weakened to a tropical depression last night. there's been 28 deaths attributed to the storm so far harvey dumped about 50 inches of rain on houston. economists think total loss also be between 48 billion and $75 billion.

scott cohn has the latest for us good morning >> reporter: good morning. at the height of the storm this week, the george brown convention center where i am in houston had 10,000 evacuees. that number is down now to about 2500 as houston starts to dry out and people start making their way back to their homes to assess the damage, but there is still a disaster going on east of here the scene last night in port arthur, texas near the louisiana border on the gulf coast, people showing up, good samaritans in boats getting word through social media and otherwise that people needed to be rescued. the scene at a motel six, they evacuated a number of guests out of there port author is basically under water. beaumont, the city water system there is out that continues to be a problem in the area where harvey made its second u.s. landfall yesterday. in the meantime an unfolding situation we're watching closely

to the north of there, northeast of houston in crosby, texas. this arkema chemical plant, remember the issue is that they store and create peroxide compound there's that need to be refrigerated they got six feet of water in the plant. unprecedented. the refrigeration is out we got word within the last couple of hour there's were some explosions, two explosions and fire, black smoke seen in the plant. that's inevitable if the products are not refrigerated. the ceo there is saying there's a threat of further explosions and ultimately almost inevitably when this catches fire, the plan is to let it burn out. they evacuated people around the plant. ten deputies taken to hospitals. this is something we will continue to watch. they say they had a plan in place but they never did get six feet of water in the plant

elsewhere we will start seeing the effect of this storm on gasoline refine products the colonial pipelines two of them that take diesel fuel, jet fuel and gasoline to the northeast being shut down at this point as colonial assesses the damage there that's going to be at least part of an interruption in supply we don't know how long that will be the storm has been downgraded. it's moving on but leaving a lot of hurt in its wake. >> i was going ask whether it's too early to talk about reconstruction efforts the city has to drain itself i can see behind you there's so many people in temporary shelters how long does this phase remain before we can look forward to rebuilding >> depends on where you are. what you have is rising water as opposed to the wham walls of w.

so you will have homes that will be standing but have damage, and need to be gutted out. this will be going on for some time the situation still unfolding in the east where there was so much rain dumped in beaumont and port ar arthur when you hear about some of the cost estimates, you know the extent of the damage and the amount of population in this part of southeast texas, we will be talking about this for years. >> any sense on when the refineries will be able to get back up and running? >> it's not clear. it depends on whether it's damage, whether there's flood damage and so on they have procedures for shutting these refineries in place, but the question is when a refinery is damaged and geing it back up is quite a process. >> thank you for making your way

to houston to update us, scott cohn president trump making a major tax reform speech yesterday. he backed his call for slashing the u.s. corporate tax rate to 15% from the current rate of 35. >> this is our once in a generation opportunity to deliver real tax reform for every-day hard working americans. and i am fully committed to working with congress to get this job done. and i don't want to be disappointed by congress, do you understand me? do you understand? >> president trump is expected to discuss tax overhaul at a white house meeting next tuesday with the so-called big six negotiators. on that note, don't miss steve liesman's sit down with

treasury secretary steve mnuchin today at 11:30 a.m. eastern time >> the question for the markets, how much is priced in. of all the political -- >> it's become a show-ame story >> it's the most important for the stock market versus healthcare reform, which could have had a positive effect, but not near as much as a corporate tax cut would. i think the market is pricing in a 10%, 15% chance. if we get something, you get see a big reaction >> small caps, people say watch those. those are the domestically exposed -- not the international, multinational companies that would benefit from a lower corporate tax rate, they're plat for the year. >> watch banks banks pay full rates, so few companies do, banks are near 28%. it's up near the top, if you get a decent cut they benefit significantly.

>> same with retailers which have high exposure to the u.s. technology is an interesting one to watch they would benefit from repatriation if we get that. it's good that the president is talking about it i remember cramer said yesterday, as long as he stays on message and reads the prompter, all good with the markets. that's what happened he didn't stray and get into topics or pick fights. >> as you say, it's a show-me story. we'll believe it when we see it and lear whhear what the treasuy second tear has to say. the debt ceiling also being dealt with, and there's a strong warning. a failure to hike the debt limit could be more catastrophic than the collapse of lehman brothers during the financial crisis. the economist warned if the u.s. defaults on any debts we could see government sending cut to 4% of annualized gdp.

highly unlikely the conclusion to happen, but a wildcard negative factor. mexico is speaking out against president trump's threats to withdraw from nafta mexico's foreign minister saying mexico will leave the negotiating table it president trump pulls the trigger on withdrawing from the agreement this comes after trump said he would probably need to terminate nafta to get a fair trade deal with mexico and canada i can't tell if this is art of the deal negotiating tactics that president trump says he has to pull out and withdraw from nafta, as he sends his top trade negotiators to sit at table and haerm out t hammer out the details >> i think it is >> there's too much to lose from a u.s. jobs and export perspective. and the states that rely most on trade with mexico and kand r

candida canada are allred stat red states. >> when it's a focused speech on a topic -- >> watch what he does, not what he says. >> if he does a press conference with wilbur ross after a nafta negotiation, you would be more concerned. the commerce department opened an investigation on wl whether paper imports from canada are being dumped on the u.s. the probe was prompted by a complaint from a paper company in washington state. in corporate news, uber's new ceo has some plans for the ride hailing company dara khosrowshahi saying he hope forgs hopes for an ipo in 18 to 36 months and he looks to turn

around uber's culture, which has been plagued by harassment, and other things >> still a lot of seats to fill. one is done. plenty more to come. >> you had to know who the cfo was first. walt disney is reportedly preparing significant budget cuts at its television group this will include staff reductions and restructuring the majority are set to be at the abc broadcast network, abc news and local stations. the cuts will represent 10% of the unit's annual costs. shares just positive this morning. time for top trending stories. instagram is the latest victim of an internet hack attack they say a flaw in the system

revealed celebrity e-mail and numbers. it warns people to watch out for suspicious activity on their accounts no word on which accounts were affected were you >> i hope not. >> i don't have a blue checkmark. >> not as important as i am. more followers, though fox sports is hoping to -- >> i actually didn't ask for it. >> they bestowed it upon you >> fox sports hoping to capitalize on american's short attention spans. they will debut six-second commercials during the nfl games. that if it came in would be transformational n my opinion for nfl.

one of my criticisms is that the whole thing takes four hours, the total play time is 60 minutes. you have so many breaks for advertisements, just keep the play going solidly soccer, 45-minute half, uninterrupt uninterrupted. >> i wonder how it will change the economics, cheaper ads the nfl is a behemoth when it comes to advertising spending. >> deadline day for soccer today. millions being spent by soccer teams for players. it's going poorly for arsenal. they're racing towards a 1$1.5 billion spend for soccer this summer >> nobody cares. >> i try to make it business related. >> thank you for updating us the big items to watch in the trading day ahead. "worldwide exchange" will be right back

i love you, droolius caesar, but sometimes you stink. febreze car vent clip cleans away odors for up to 30 days. because the things you love can stink. we are approaching the top of the hour. the team is getting ready for "squawk box. becky quick has a look at what's coming up. good morning >> i have to ask you guys, do you have your own ear piece? the one that molds into your ear. >> i lost mine >> i always forget to bring it with me. >> i can't keep track. >> ah, you guys will get ear mites. >> >> no >> we'll get what? >> ear mites, earwax, something. they swap those out. >> but they clean them they clean them.

then we don't have to remember to bring them. >> and the coffee cups, too. >> guy adami is here here's our guest for the first hour this morning. he doesn't have his own either i can't believe any of you guys don't have your own. get your own ear pieces. >> i'm very happy not. >> i was giving him grief, i thought you would be on guy's side >> i'm on sarah's side, nobody cares about arsenal. >> hold on, one tweet, i care very much about soccer, your co-host is very rude many americans care about soccer >> i played soccer for 12 years, i don't care about arsenal either >> you played soccer for 12 years? >> yeah. >> it's not just arsenal, it's the final day of 1$1.5 billion being spent to buy players >> he's hijacking our show save me. >> i will join your rude co-host, nobody cares. a few things coming up today, i saw scott cohn giving that

rundown on what's going on in houston. things are changing quickly. we have guests who will tell us about the situation on the ground we will talk about relief. we have the head of the american red cross, the president there, gail mcgovern who will be joining us to talk about what's needed what they're doing on the ground and what they need more of we'll talk about the recovery process with the university of houston chancellor, who will talk to us about what's happening. she has about $6 billion in a budget that has been hit hard. she used to be on the dallas federal vereserve. then we'll talk about oil. the american petroleum institute's president and ceo jack girard will be joining us what's happening with refineries, how much it takes to get back up and running. we'll cover that and the markets coming up. >> i have a quick final

question >> yes >> did warren buffett really eat that whole cake himself? >> i didn't get a slice of it but it served about 500 people they were giving slices to every patron who came into the restaurant >> i would have gone for the top. >> looked good >> great interview yesterday we look forward to "squawk box" coming up. still ahead we pvireew the economic data on the docket today. storms by an insurance coy that knows the weather down to the square block. this is a diamond tracked on a blockchain - protected against fraud, theft and trafficking. this is a financial transaction secure from hacks and threats others can't see. this is a patient's medical history made secure - while still available to their doctor at their fingertips. this is an asteroid live-streamed to millions of viewers from 220 miles above earth. this is ai trained by experts in 20 industries. your industry. hello. this is not the cloud you know.

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you should probably buy me dinner. no. go to lendingtree.com for a new home loan or refinance. receive up to five free offers and choose the loan that's right for you. our average customer could lower their monthly bills by over three hundred dollars. go to lendingtree.com right now. >> it's been about 2% a year now for -- since the fall of 2009. you know, eight years. and been remarkably close to that most of the time. the way they report those quarterly numbers, they take the quarter and multiply by four it's not year over year. it gets a little tricky that way. if you're off by a tenth it makes it four tenths in the annual figure they report. with seasonal adjustments, you never want to take any quarter too seriously. i would guess we're in a 2% growth economy now

>> that was warren buffett speaking on cnbc yesterday let's check in on the global markets this morning futures indicating another positive start for stocks on this final trading day of the month, one that went green for the dow and the nasdaq especially the nasdaq. dow futures up 48. nasdaq futures up 18 on top of a 1% surge yesterday led by biotech the ten-year tree yooe-year trel around 2.15. off the lows of the week not high >> it doesn't want to go below 2% which is relevant all the bad news, we recovered relatively quickly on that. >> absolutely. >> china's official pmi, manufacturing pmi came in better than forecast. as a result, we have a bit of softness in china's market to end the week japan up about 0.7%.

japan for the month of august down a couple percent. the rest of asia has done well long congress hong kong up 3%. as for european markets, germany and france up about a percent. the ftse flat, that's before today's performance. we're adding 0.6% for each of those markets today. the main bit of data this morning, cpi out of europe which was slightly better than expected, albeit below 2%. >> as for the broader market picture, oil prices, big loser for august wti getting a bit of a bounce after slipping below $46 a barrel still down 8% for the month. brent has been strong. that's the dynamic out of hurricane harvey refineries in the u.s. shut down gasoline prices surging. that continues look at rbob gasoline, the pump price, up 5% two-year highs there we'll feel that at gas stations. >> that's it for "worldwide

exchange." lots to watch today, particularly on "squawk on the street," lots of interviews to come >> secretary mnuchin talking to tax reform with steve esn limaon "squawk alley. >> "squawk box" is next. olay regenerist shatters the competition. hydrating skin better than prestige creams costing over $100, $200, and even $400. for skin that looks younger than it should. fact check this ad in good housekeeping. olay regenerist. ageless.

breaking overnight, multiple explosions at a texas chemical plant. the company warns that there could be more explosions to come. and harvey shutting down the main pipeline carrying fuel from texas to the east coast. the market impact of that straight ahead. behind the wheel, the new ceo of uber making bold promises, including an ipo prediction >> and president trump pushing for tax reform we'll talk to a tax policy expert from aei and get a live update from washington it's thursday, august 31, 2017,

"squawk box" begins right now. ♪ live from new york where business never sleeps, this is "squawk box. good morning welcome to "squawk box" on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and and is off for this week joining us is cnbc's fast money trader, guy adami. thank you for being here >> awesome to be here. joe is yelling at me already >> you are trading already i'm sitting here talking to you. >> you're a fast money trader, did you trade already? >> it's 6:00 in the morning. >> if you wanted to, could you. >> i could thank you for having me in your house this is your home from 6:00 to 9:00 >> i wasn't really yelling at you. >> no, you weren't we w