breaking news. hurricane ida slamming into louisiana and what is described as the worst storm since katrina 16 years ago the entire city of new orleans without power as major oil and gas producers shut production. we have a live report ahead. a developing story from afghanistan. the clock is ticking to evacuate remaining u.s. personnel and allies from the country. this as the u.s. says it is eliminated an imminent threat facing kabul. and wall street investors still digesting jay powell's

comments from the jackson hole symposium. and the cdc convening today to weigh in on recommending a booster vaccine for most americans as the covid-19threat remains all too real that is all monday, august 30th, 2021 you are watching "worldwide exchange" here on cnbc good morning i'm seema mody in for brian sullivan we are higher in pre-market. nasdaq higher by 21. s&p 500 with gains of 3 points the s&p 500 is coming off the 52nd record close. the nasdaq with the 31st now to the top story this morning. hurricane ida. battling the gulf region after landfall as a category 4 storm

yesterday. our own valerie castro has the latest from new orleans on the storm. valerie. >> reporter: good morning, seema. we are coming from along the banks of the mississippi river in new orleans where things are actually relatively calm right now compared to the conditions we e saw here yesterday hurricane ida made landfall before noon as a monster category 4 storm within the last few minutes, it has been downgraded to a tropical storm we are waking up to more than 1 million people without power across the state here in new orleans, the entire city is currently without electricity. the power went out after 6:00 last night enter entergy called it a catastrophic failure of the transition system reporting 800,000 outages. city of new orleans is experiencing technical difficulties with the 911 emergency system they are urging people to go to

the nearest fire station or flag down a first responder president biden issued a declaration of disaster for louisiana yesterday. the first death reported yesterday. that was the sheriff's office who says someone was killed by a fallen tree. as the storm moved onshore, it moved to houma a roof becoming a projectile and in kenner, we were told no staff from the hospital was injured. we are waiting for the sun to come up to assess the damage seema. >> valerie, what do we know about the storm reduction system that louisiana invested in after katrina in 2005?

is it working? >> reporter: it seems to be working in new orleans they upgraded everything after katrina katrina. the mayor was confident. the storm surge was below the levee system in the southern portion of the state where the storm first came onshore, there was a failure of the levee system although how bad the damage is unclear. seema. >> valerie castro with the latest in new orleans. thank you. we'll check in with you soon. the gulf coast is the heart of the oil and gas production. the bureau of safety and environm environmental enforcement said they had to shut 7% production prices are falling back in the anticipation of the recovery of protection let's get more on this with john

gilda. >> good morning, seema >> howdo you size up the hurricane as it is impacting the re region >> i need to state this storm is a monster. we did not get the worst case scenario it looks like the refinery of the region appeared to escape great damage they are built to withstand significant storms that is what you are seeing. as your correspondent pointed out, the issue is power, power, power. for reasons unknown, the refiners in the region rely on the power grid for their operations despite the btus they are pumping out with fuel. i doubt nor should they he be prioritized with power

restoration. that is partly why you see crude oil lower because of the krung chunk of the crude oil that is why gasoline prices change jump because we're going to have to live off what is in storage until refiners get back online that's going to be the big question mark here through the day. we have really lucked out in terms of massive damage to gulf infrastructure and refining infrastructure >> it seems like that is because of the precautionary measures taken over the last week 280 oil platforms evacuated. how quickly can those come back online as the hurricane makes ground >> basically, all of the gulf of mexico oil and natural gas production has been shut as a result of the storm. they do that now the industry does that now even if it is just a tropical storm they take zero chances with

personnel. they will be back online with within a matter of days. the question is an import facility which is the louisiana offshore oil fplatform, the loop that should be okay. it is a matter of days, seema. the question is power, power, power. also, too, for the colonial pipeline, which we know because of recent history, brings the fuel from the gulf coast to the eas eastern part of the country. it went down it has the capacity to come back quicker. >> what about the six refineries in new orleans philips and shell and valero. can they reach the production from two weeks ago >> infrastructure should be sound. the problem is the flooding.

you will not get them repopulated with the folks that work in the units. that will be the potential delay there. i have to say, my hat is off to the army corps of engineers to think new orleans 16 years later can come through a cat 4 storm bigger than katrina and look okay i'm keeping my fingers crossed the refiners in the region benefitting from the mitigations. flooding and ability to get people to the plants to throw the lights back on is the big issue. we could be in for a problem in terms of gasoline supplies in the eastern third of the country if this extends. that is the situation to watch it could become problematic. >> let me pick up there. for americans at home, should they expect higher gas prices ahead of labor day weekend >> no doubt. >> how much higher

>> from the labor day? higher we jumped 10 cents a gallon at the open in new york the squeeze is on if the refiners don't get back online quickly. particularly in the southeast if the colonial pipeline doesn't come back online the gas situation is the concern here supply wise and just making it and delivering it. >> john, always appreciate your expertise. thank you for your time. john kilduff. when we come back on "worldwide exchange. imminent attack on forces around kabul airport as the evacuation enters its final days. more on ida and the latest from the gulf coast region stay tuned later, a special cdc panel considers for use cases for the pfizer covid-19 vaccine. we speak with one doictor on th

panel ahead. a very busy hour when we return.

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this has been under consideration for the last month. it is not binding on all eu coun countries. medical technology company baxter international set to buy hillrom for $10 billion. we have seen a lot of mergers in the health care space with almost $400 billion of takeover deals in the u.s. just this year the iphone 13 will feature satellite connectivity it allows you to make calls without cellular coverage. according to apple the hardware will tap into satellites in areas with low 4g service. the iphone 13 is set to debut in september. we will see what happens when we hit the road and there is no such thing as a bad spot

what will you claim when you talk to your exactly >> not that i would do such a thing. >> we will see the power of technology. contessa, thanks now back to the markets and the trading day ahead. futures are slightly higher right now. s&p 500 seeing gains of 4 points keep in mind, it was energy that was the best performing sector gaining 4.5% last week joining us to success is josh wein there seems to be the themes of the higher rates then the hurricane and the move we are seeing in the oil market. and on top of that, the earnings season what is catching your attention

today? >> good to be with you, seema. good morning i would say jackson hole is putting the road map in play we know more than two business days ago certainly taper was well telegraphed by the end of the year we will see the effects of the storm and proliferation of the delta variant. and rate hikes which is what people really care about that is true tightening and that seems to be well off the market was off to the races on friday. i would anticipate more of the same this week >> what changes are you making to your portfolio after hearing what powell had to say on friday >> we are not taking any big changes. we are have been fully invested. bullish on the market with rates low and staying lower for longer you know, perhaps much longer. the market with 20 times earnings which is incredibly

compelling no big changes staying the socourse >> interesting at the same time, you seem like you are more biullish with one sector utilities. why are you putting more money to work in the utility sector? >> absolutely. now we know a little bit more about what things may look like in the coming months with interest rates, i think the markets yield with s&p 500 at 1.3% many trading less than market multiple with the higher yield companies like southern company is what people should take a look at. yield above 3% growth and dividending from 3% to 4% in sempra. they increased dividend at 8%

clip in the last five years. certainly increase ref advrelevc as we go forward with electric vehicles that is the story for many years. it has to be mentioned every utility in the country will have a new customer that is electric vehicle owners. i think that is an interesting ticker to a very interesting story that gets overlooked utilities are not technology they are not -- electric vehicles gather a lot of mind share. where we are with the market and knowing rates are staying low. there's a yield which is very interesting. >> quick take on the august jobs report out this friday >> i think powell and the fed made it clear we need to make back pretty much the 6 million jobs below pre-pandemic levels we have a bit of work to do

there. i think, you know, we'll looking at that more than we tend to that is a big day. i think it may be one of the bad news is good news. bad jobs report could send the market higher which is always a little hard to get one's head around that is the way things tend to work now with rates and had fed as a key to what the market will do >> speaking of rates yields at 1.3% for the 10-year josh wein, thank you. still on deck here on "worldwide exchange. the stay at home stock our next guest says as zoom prepares for atey sus. were back after this from last qr but we are hoping things will pick up by q3. yeah...uh... doug? sorry about that. umm... what...its...um... you alright? [sigh] [ding]

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i became a sofi member because i needed to consolidate my credit card debt. i needed just one simple way to pay it all off. it was an easy decision to apply with sofi loans, just based on the interest rate and how much i would be saving. there was only one that stood out and one that actually made sense

and that was sofi personal loans. it felt so freeing. i felt like i was finally out of this neverending trap of interest and payments and debt. ♪♪ zoom has been the poster child of the stay at home trade gaining more than 390% last year a very different story here in 2021 with zoom shares basically flat on the year so will this company be the latest stay at home stock to disappoint following peloton's report last week or more companies delaying return to office this is the debate on wall street joining me now is web bush head of securities trading. joel, what will you experience

after the opening bell >> what has been an overall fantastic earnings season, one pocket of weakness and peloton capped it off is the pandemic winners continue to disappoint pel peloton, etsy, roku, the list goes on and on the expectations are lower for zoom expectations are coming in lower. a week ago, people were looking for a 5% jump in revenue that is down 3% to 4% and people are really now shifting the focus to the recent f9 acquisition and other traction with other products. the bar has been lowered significantly for zoom i guess that is the benefit of reporting late in the season >> it is interesting last week, morgan stanley upgraded the stock

as we return to office, i'm on one or two zoom calls a day. >> my zoom calls have gone down significantly. i think a big issue for what you mentioned earlier, the heart of the debate for zoom is what will it look like going forward all i know is zoom, about 37% of the total revenue, comes from small businesses that is 1 to 10 employees versus to 20% prior to the pandemic that is the biggest headache a lot of unpredictability. also education is a tailwind for zoom this time last year there is a big push in the u.s. to get kids back in school whether you are wearing masks or not. you have to think it will would be a hard metric to predict with any conviction that is one of the biggest issues with the stock. >> where does the stock need to trade as a good buy for you?

it was back at 550 last year >> you said the stock has done nothing this year. you pulled up the chart. the stock is 390 mrs390% off thf 2020 it hit peak last october technical. and it sifted with rally for zoom, you look at $400 it fell there twice. if it can put up a good brand and sell the f9 on the call, that will bring near-term momentum money if it cannot get above the $400 level. >> what about the trade? the reopening stocks are gaining momentum this month. cruise lines are higher.

traveling operators posting gains in august. >> that is a group of stocks that is up for cyclical op optionality as you see investors migrate to those within tech, it is not gloom and doom docusign reports wednesday night. businesses have a stronger move and showing no signs of slowing. semis are a favorite stock with investors. some of the high flying strictly pandemic winner, the appetite has been low. >> thanks for walking us through the trades, joel big week for zoom and docusign joel kulina, thank you let's get a check of the other headlines with frances

rivera in new york with the latest >> seema, good morning we start with the lake tahoe basin area under evacuation warnings it is the california caldor fire spreads. it is burning more than 168,000 ac acres. patients are being transferred to partner facilities. the hospital emergency department will remain open. a red-flag warning has been issued for the sierra nevada until tuesday. a consumer alert for beretta usa. recalls 860,000 pounds of possible salmanella outbreak and finally, hollywood is

mourning the loss of the legend this morning >> you know what you've got spunk >> well, yes. >> i hate spunk. >> ed asner was best known or the gruff and loveable boss on "the mary tyler moore show." he won an emmy in "roots." younger generations know him as santa in "elf" and then the grumpy man in "up. off screen, he fought for artist rights as serving as president of the screen actors guild every holiday, "elf" is playing on the screen. we will remember him every year

as the loveable ed asner >> christmas is not the same without "elf." he was well known for playing warren buffett in 2011 thank you, frances rivera. see you later. ahead here on "worldwide exchange." the latest on the tropical storm ida as more than 1 million people in louisiana are still without power. a live report from the region ahead. 'lbeig bk.

another day, another chance.

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breaking news. ida making landfall in the gulf as a category 4 hurricane in the region's worst storm since katrina 16 years ago. and the middle east and afghanistan in the final days over the imminent threat in kabul over the weekend. the cdc meeting today to weigh in on the merits of the covid-19 booster vaccine for americans already vaccinated from the virus it is monday, august 30th, 2021 you are watching "worldwide exchange" on cnbc. it is 5:30 a.m. on the east coast. good morning i'm seema mody in for brian williams here is how stocks are looking through the 5:00 a.m. hour

falling fed chair jerome powell's speech. the nasdaq higher by 18 points we are slightly lower than a half our ago some of the sectors still trailing the s&p 500 with infrastructure talks delay the transport index trading 7% away from the 52-week high. take a look at the russell 2000 index. 3% away from the respectivehig as the u.s. dollar gains ground. right now, we're looking at prices volatile the last couple hours. now trading down by 1% for wti crude at $68 a barrel. more on that straight ahead. a developing story this morning in afghanistan the u.s. carrying out an unmanned military strike on the isis-k target in kabul u.s. troops still on the ground

as another isis attack strikes targets in neighborhoods outside the airstrip tracie potts in washington with the latest tracie, good morning >> seema, good morning the white house said in a statement just after midnight that the president has been briefed on the latest rocket attack creating yet another threat to the effort to get people out of there before deadline tomorrow. this morning, reports of the rocket strike and gunfire near kabul airport after the explosion sunday with signs of danger as u.s. continues evacuations ahead of the deadline tomorrow. >> all we can do is mitigate risk >> reporter: the withdrawal from afghanistan is set to happen by midnight tomorrow. today, the push to get americans to safety. >> we have about 300 american citizens left who have indicated to us they want to leave we are very actively working to

help them get to the airport and get on a plane and get out of afghanistan. >> reporter: the biden administration is pushing back on reports that the u.s. put americans at risk by giving the taliban names of those still on the ground. >> the idea we put anyone in jeopardy is wrong. >> reporter: planning another attack on the airport and critics say it will be hard to go after isis terrorists without sources on the ground. >> we have very little leverage to extract americans or afghan allies from the land-locked country. >> reporter: on sunday, the bodies of 13 service members killed in last week's attack arrived home >> just my baby. yeah that's my casualties in a war

that is ending at great cost the u.s. government says the taliban is cooperating to some degree saying everyone who wants to leave the country will be allowed to do so even after tomorrow 's deadline. seema. >> tracie potts, thank you for the latest joining me to discuss is robert liscouski. he is the task force founder secretary, thank you for joining us your thoughts on the operation conducted by the government over the weekend? >> good morning. our forces will do everything to protect those around the airport. we have the abilities to intercepts those issues when we he can that is an ongoing operation

during the drawdown. >> with the taliban in control of afghanistan, how big of a risk does this become for americans? >> i think many say we are back to where we were in 1998 i'm not sure we made progress in the region however, you know, in my former position, i would be worried where we are today with the threat posture in the united states if nothing else, there is a potentially perception that we are weaker than before somewhat weaker. the network withes that have been gathering or building over the past 20 years in the united states as well as abroad, we have been able to -- u.s. forces and law enforcement have done a great job to mitigate the threats. we have not had a terrorist attack in the united states in years, at least foreign o

originated we will draw near to the 9 9/11 20th anniversary. >> finding ways to reduce the risk, how much of the conversation should be around pakistan which played a big role in empowering the taliban in recent years >> historically, pakistan has had a role in the region particularly along the border area i'm not sure of the credible one of what to do internationally there. clearly, the networks supporting the taliban and region are continually reinforcing and reestablishing themselves. i'm not so sure they were disestablished you know, listen, the dynamics have changed in the region clearly with the taliban rise of power in afghanistan. >> the white house received a

lot of criticism in the last couple weeks from allies, including the uk and france. do you think this move emboldened our adversaries like russia and china >> on the world stage, it makes us look weaker i'm not suggesting we are weaker, but the perception is that the pullout with regard if it should have happened or not have happened, it was a better way it could have happened. a more thoughtful planned way would have eliminated a lot of the things that have gone on currently and reduced the strength of the taliban internally i think our add hversaries will capitalize on this in russia and china. clearly within the gap that existing in country. irrespective of the enemies

russia developed over the years, still an opportunity for them to gain an asset. chinese, weeequally. they did not have the best relations in the past. when we step out, an opportunity is created and our adversaries can step in. >> a risk worth watching secretary liscouski, thank you. back to the breaking news this morning ida making landfall in louisiana yesterday as a category 4 hurricane. our own valerie castro has more from new orleans valerie. >> reporter: good morning, seema. we are here along the mississippi river where the hurricane has now been downgraded to a tropical storm as you mentioned, it roared ashore yesterday as a monster category 4 hurricane this morning, we are waking up to 1 million people without power. in the city of new orleans, there is no power. we lost electricity after 6:00

last night entergy, the largest utility in the state, called it a catastrophic failure of the transmission services. this morning, they are accounting for 800,000 of the power outages. the city of new orleans saying there are issues with the 911 system they are urging residents in need to go to the nearest fire station or flag down the nearest emergency responder if they have issues yesterday, president biden issued a disaster declaration from fema headquarters a few hours later, the first hurricane-related death reported the sheriff's office said someone was killed by a fallen tree in the town of kenner, the roof of the medical center ripped off in sections. there was no reported danger to the patients inside, but medical staff had to shelter in place. in st. bernard parish, photos from the before and after.

images an hour apart from the storm coming in and after. this morning, we are waiting for sunrise to see how bad the damage really is i think the worst is overnight when the power is out and people could not see anything we are waiting for sunlight to see how conditions are and how everyone fared seema. >> a hopeful sign, valerie the surge was below the leave s levee protection system. i know you reported leavee failure. >> reporter: seema, it is unclear. most of the area is in the dark. there were reports of levees failing. you mentioned the mayor reiterated that they were confident the levee system in new orleans would hold strong

after upgrades following katrina. >> valerie, thank you. next on "worldwide exchange." a key cdc meeting today. we will talk booster shots and the fight against covid next first as we head to break, some of the other top headlines. another million moderna covid vaccines in japan have been pulled bringing the total of shots suspended to 2.6 million. this comes after foreign substances were found in the batches of the vaccine and two people died after getting shots from affected lots moderna shares down this morning after dropping 4.5% friday affirm shares soaring after the partnership with amazon. it will let amazon customers split purchases up into smaller monthly payments. and "candy man" topped the box office this weekend.

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welcome back the cdc advisory committee on immunization is set to meet to discuss the latest on covid-19 vaccine policy in the country. the question is booster shots and approval of shots for children under 12 is top of mind

as the hospitalizations pass is 100,000. joining us is kotton nelson. a member of the aci. i understand, doctor, you will be at the meeting. what will you be looking for >> today's meeting will be a discussion of the pfizer vaccine and we will be reviewing safety and efficacy and thinking about paths forward and near the end of the meeting, we will discuss booster doses and exactly what information we will need to make good decisions >> how concerned are you about the rising number of hospitalizations of younger children who contracted covid-19 and don't have the vaccine >> sure. we are concerned about all hospitalizations we are really concerned about

the overall number of hospitalizations i will say the vast majority of the hospitalizations are people who have not been vaccinated rather than necessarily focus on booster vaccines, i would still recommend very strongly that everyone think hard about getting a vaccine. vaccines have been given to hundreds of millions of people the safety data is overall incredible it is much safer to get vaccinated than to run the risk of getting infected. at this point in the pandemic, with delta circulating so commonly out there it is important to think about vaccine now. the choice is getting infected or vaccinated. i have chosen to get vaccinated knowing the protection is really good months later. we should have a focus on getting the entire population

vaccinated. >> there are americans receiving the third shot how do you see the timeline moving >> so, between now and the end of the year, we will have the ability to review all of the medical information and make good choices and good recommendations as far as what americans need i would stress that the safety and effectiveness of the vaccine is still really strong and really good. as an infection disease specialist vaccinated in january, i still feel very comfortable going to work and working with covid patients. i think that we do need to think about best ways for paths forward. it is not as though all of our vaccines, you know, stopped working or anything like that. we are seeing a slight decrease in some of our studies in vac even protection.

>> how closely are you watching the vaccinations in israel >> we are looking within the united states and outside of the united states. israel has had an amazing program. they have a system to review the information nicely they used one vaccine. the data is really helpful to us in medical decision making as always, dr. walensky has said go with the science. the science out of israel and other countries has been useful for us to shape u.s. policy. >> i appreciate it thank you for joining us dr. camille kotton. coming up, with two trading days left in august, the s&p is on the path for the longest

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welcome back to "worldwide exchange." only two trading days left in august and stocks continuing to hit new highs. futures indicating a higher open nasdaq higher by 18. dow jones industrial average up 14 points. to discuss the market and where to put your money to work, patrick palfrey at credit situ suiss. good morning to you. you saw the markets start to move after his speech was delivered. >> good morning. i would characterize it as excitement the concern was that the tapering process would begin more aggressively.

i think earlier than people expected it seems tapering will happen this year. this year will likely be closer to the end of the year than likely in september. what we saw against the back drop is a big move in the cyclical assets. i'm talking energy, materials and industrials. things that do well when the interest rates rise. we saw the stocks do well. that is different from what we have been seeing from the better part of the last, you know, three to four months, since the 10-year specifically peaked in mark march >> the last time they scaled back, the market declined 7% the s&p 500 came right back up the market rewarded the pull back i'm curious of your thoughts on how the market tries to respond to a potential tapering. >> i still think we need to pull

back the buy in reality, you look at rate hike stcycles, stocks do well on average they gain 9.5%. after we go forward for the next, you know, 24 to 36 months, stocks continue to grind higher. what we see is rate hike cycles do not precipitates the bull market right now, we don't see any of those on the horizon corporate profits robust we have inflation. that is what people are focused on in reality, that is good for corporate profits. really what this is is likely td is continue to point the market direction higher. >> the best performing sector last week. it has been moving for a number of reasons due to politics and the hurricane in louisiana would you continue it put money

in the sector based on the headlines? >> i think energy presents a good opportunity all of the groups that have economic closure do well in the type of back drop. energy is a good example of it there is a commodity play as well that will continue to support upside as well materials and industrials and fin financials will work. >> what do you like? agriculture like caterpillar and d d deere? >> more capital goods. aerospace and defense. the names you mentioned could do well anything middle stage industrial should work. >> factory orders coming out tomorrow what are you looking forward to,

patrick? >> we want to see the job pace strong i think the concern is that as people head back to school, there are job gains that won't come through we want to see continued strength in the labor market we expect to see that. >> zoom is set to report earnings today i'm curious if this is a name you like >> we don't follow the individual stocks closely. what i know is despite the fact we are seeing a move back to the office, we think the names in the technology sector worked in the work from home environment and will continue to work. our environment is not changing. zoom is likely part of that as the names like that. i expect anything in that area to continue to work. >> so many companies delayed the return and zoom shares are flat on the year.

up 400% in 2020. we will see what the company delivers after the bell. patrick, thank you that does it for us on orwi exchange. i'm seema mody "squawk box" is next that's why insurers are going hybrid with ibm. with watson on a hybrid cloud they can use ai to help predict client needs and get the data they need to quickly design coverage for each one. businesses that want personalization and speed are going with a smarter hybrid cloud using the technology and expertise of ibm. nice bumping into you.

good morning louisiana in disaster mode as hurricane ida ripped through the state and slashing energy output from the gulf of mexico. a developing story from afghanistan. the clock is ticking to evacuate american personnel and allies. the latest straight ahead. today is the 30th. one more day. on wall street, investors

still digesting fed speak as we prepare for the friday jobs report it is monday, august 30th. "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc i'm becky quick along with joe kernen andrew is off today. if you are watching the u.s. equities market, a lot of bad headlines. s&p 500 and nasdaq closed at new highs on friday. you can see right now, futures are indicated higher this morning. the s&p futures up 3.5%. dow futures up 18 points nasdaq up 19 taking all of the head