nick chubb. stopped. look for a notre dame time-out here.ps on the table for third and a yard and a half. >> referee: it will be a 30-second time-out. >> mike: broon kian kelly's teau don't get the stop here -- >> doug: it's a must. >> mike: you're about done with one time-out left. >> doug: 40, 40, 40. >> mike: in terms of clock management and the play clock, unless they do something stupid, most of the chips are on the table for this play. because he's an alum, kirby fans, he knows all about the great respect for mark richt and the program, won ten games. you have to win not just volume of the games but the right games. this is a bucket list game. i want to go north of the mason-dixon line for the first time in a half century. it would be a big one for kirby smart. his team a favorite this year in the sec east. >> doug: defensively sell out. if they trick you, they trick you. >> mike: payne looks to be stopped shy of the 35 yard line. it going to be fourth down. so they go with payne, the fullback and jay hayes and jerry tillery inside wit

nick chubb. stopped. look for a notre dame time-out here.ps on the table for third and a yard and a half. >> referee: it will be a 30-second time-out. >> mike: broon kian kelly's teau don't get the stop here -- >> doug: it's a must. >> mike: you're about done with one time-out left. >> doug: 40, 40, 40. >> mike: in terms of clock management and the play clock, unless they do something stupid, most of the chips are on the table for this play. because he's an alum, kirby fans, he knows all about the fans. he said they are starving here. great respect for mark richt and the program, won ten games. you have to win not just volume of the games but the right games. this is a bucket list game. i want to go north of the mason-dixon line for the first time in a half century. it would be a big one for kirby smart. his team a favorite this year in the sec east. >> doug: defensively sell out. if they trick you, they trick you. >> mike: payne looks to be stopped shy of the 35 yard line. it going to be fourth down. so they go with payne, the fullback and

nick chubb. stopped. look for a notre dame time-out here.ps on the table for third and a yard and a half. >> referee: it will be a 30-second time-out. >> mike: broon kian kelly's teau don't get the stop here -- >> doug: it's a must. >> mike: you're about done with one time-out left. >> doug: 40, 40, 40. >> mike: in terms of clock management and the play clock, unless they do something stupid, most of the chips are on the table for this play. because he's an alum, kirby fans, he knows all about the fans. he said they are starving here. great respect for mark richt and the program, won ten games. you have to win not just volume of the games but the right games. this is a bucket list game. i want to go north of the mason-dixon line for the first time in a half century. it would be a big one for kirby smart. his team a favorite this year in the sec east. >> doug: defensively sell out. if they trick you, they trick you. >> mike: payne looks to be stopped shy of the 35 yard line. it going to be fourth down. so they go with payne, the fullback and

. >> reporter: insurance and reinsurance stocks like travelers, chubb and groups -- a scenario that had originally called for a direct hit on miami. brisk modelingism a.i. recollection estimates insured losses could be 20 to 40 billion, including damages from wind and storm surge, but excludes the impact on the broader economy, and the loss is sure to come for the government's program. it's a staggering sum, two times the estimate for hurricane harvey, according to wells fargo. with the industry sitting on a mountain of capital, still small enough that insurance like assurance can manage it. >> we expect a loss of at least our retention, which is $127 million, but we don't think we'll come near the top of reinsurance and exposure of 1.1 billion. it's really early to have definitive -- but we've looked at flooding and storm surge, and we feel it's in the bonds of what we would have expected. >> near-term earnings will feel the expect, but analysts expect only a handful of yet to be identified reinsurers to take the biggest losses. both irma and harvey will make history, joining superstor

chubb action higher on the week. joe: let's take a look at the u.s.t bond market, the two-year and 10 year. yesterday we saw a dramatic move lower in government bond yields everywhere. some of that after dovish fed comments. two-year yields unchanged at 1.27%. %.-year at 2.06 scarlet: u.s. dollar now down for a seventh straight day. not a fresh 32 month low. closing out its worst month since may. trading is fairly light ahead of weekend risk. you have hurricane irma bearing down and possibility of another north korean missile test. the loonie all over the map after a mixed job report. a net increase in jobs and a drop in the jobless rate. the bank of canada unexpectedly raised interest rates and left the door open potentially from our rate increases. over the longer-term term, the loonie has been on a steady rally. that is a three-year chart -- i am sorry, i meant for a different time period. as of late, the loonie has been on a rally. joe: let's take a look at commodities. lots of interesting moves going on. nymex crude selling off today, down 3%. te

think going into next week, you probably still have some kind of big in all these names my favorite is chubb >> i think a lot of wall street firms came out defending the insurers travelers, doesn't have a ton of exposure to florida. so i think in general, it helps to go out a lilt l bit i would look for phm >> never heard of it >> it's done tremendously well but they have 20% of their sales coming from florida. this is going to delay projects and buying so i would probably take some chips off the table. >> bob and steven and tim have been having a debate about rent a cars put out a note yesterday, one of the stocks was this group one automotive, which might be the first time we've mentioned on the show take a look at the stock look at it on valuation. cheap. look at the short interest pr pretty significant the move it's had over the last week, why do i bring it up because if you're looking for a trade, it's stocks like this where hertz two and a half months ago that could have oversize moves to the upside this is one that might have that >> coming up, b irk o tech is on fire, but if you miss

it's too early it's too early to assess the impact to chubb. too early to assess, but my gut, you know, somewhere in that 20 to 25 billion range. >> and then irma you guys already tried to start assessing this before it even hits or how do you do it >> no, you can't what you can -- you can't assess the size, but what we begin to do is notify our customers move our teams into place. so we've already got claims teams that are on the ground, we're already building up our response capabilities. so you just get ready. and what you try to do is moat fie all your customers to get ready and pay attention to those evacuation notices >> evan it says that flood losses are basically excluded from homeowners policy why is it that the government is the only player that provides flood insurance? wouldn't it be better off if it was in the private market? >> well, i do think they would be better if it was in the private market and there is a private market for flood insurance. it's more for the more affluent buy from the private market. commercial insurance, mo

after the wolf pack's 27-21 win, check out one of their players, bradley chubb seen spitting on the midfielde but florida state now 0-2 on the season. of course, they are without their star quarterback there who they lost to injury. a lot of action yesterday but all of the action today will be focused on nfl and nfl sunday. what is going to happen with the player protests in wake of president trump's comments about athletes? >> thank you, coy. >> thanks, coy. >>> health and human services secretary tom price says he is going to stop using private jets for government purpose trips while the practice is under investigation. price faced some criticism for how much his trips cost such as this one a few weeks ago. politico estimates his private flight cost $25,000 when a train ticket for the same trip cost 72! >> we have heard the criticism. we have heard the concerns. and we take that very seriously and have taken it to heart. we welcome this review. we want to make certain that we have the full confidence of not just this administration but the american people. >> price says he is also asked fo

chubb and jp -- absolutely lloyd blankfein yesterday gave some indication.easons to be negative i think they're well priced in >> he was speaking here to a european newspaper >> thanks, wilfred >> mike, john, good to have u yo both that's it for "worldwide exchange." "squawk box" is next cd's, baseball cards... your old magic set? and this wrestling ticket... which you still owe me for. seriously? $25? i didn't even want to go. ahhh, your diary. "mom says it's totally natural..." $25 is nothing. abracadabra, bro. the bank of america mobile banking app. the fast, secure and simple way to send money. >>> irma turning deadly leaving a trail of destruction as the storm roars across the caribbean and towards florida. >>> job opening at the fed stanley fischer stepping down. >>> the president reportedly has soured on choosing gary cohn for fed chair. the details and potential market implications coming up. >>> and an interview with the ceo of exxonmobil. he has an update on the refineries in the gulf coast getting back to work after hurricane harvey it's thursday,

the ceo of semantic coming up and the ceo of chubb coming up talking about hurricane harvey and thisne >> i supposed the reaction to president trump's daca decision yesterday is leading to almost as much speaking out from corporate leaders as we got after charlottesville. >> very much so on the ceo front. the question is does that spill over into the market or spill over in terms of the politics and policy that comes next we will have that conversation by the way with george mitchell who i believe thinks this may gum up the works even more for some other big policy things that we've been talking about. >> andrew, great stuff "squawk box" in five minutes time before we leave you here on "worldwide exchange," let's have a quick look back in on markets and what they're doing there are the u.s. futures pointing higher. we slipped a bit about 40 points higher an hour or so ago. the dow down 25 points, 26 points, it comes off a day of significant declines yesterday, just down a percent. the nasdaq and s&p were down less than that we finished off the days lows, financials took a big drag do

with the big, global firms and national firms such as travelers and chubb, allstate, progressive, they're more diverse than the names you just mentioned. the versety of this, when you look at harvey, there probably wasn't enough damage for the p&c industry, because that was primarily a flooding event and they don't insure for floods. the u.s. government takes care of that. but unfortunately, irma and maybe jose, the third hurricane, after that, katia, that will provide the type of damage needed for pricing relief. so looking forward this could be a good event for these companies. liz: thank you, i was wondering, travelers is one of the leaders on the dow right now as we head into the closing bell. quickly we're looking at gasoline prices, they have spiked. how in the macro sense of might higher gasoline prices affect consumer spending for this current quarter? >> marginally. hurricanes and natural disasters tend to not have a big impact on the national economy. they obviously have a huge impact on the regional economies that they affect, whether it is houston, whether it's florida. but we

all state, chubb and aig damages are expected to run into the tens of millions of dollars. they expect ensured losses to be lower since flooding will account for much of the damage now i send it downtown for the start of "squawk alley." guys >> thank you good morning it is 8:00 a.m. at lululemon headquarters in vancouver, canad canada "squawk alley" is live. ♪ >>> good morning welcome to "squawk alley." we're at post 9. >> let's start with the markets on this jobs day the dow crossing back above 22,000 for the first time in two weeks. u.s. economy added 156,000 new nonfarm pay roles in august. the unemployment rate did tick up slightly. both july and june numbers were also revised lower national economic council director gary cohen joining us earlier. listen to what he said >> we're look teg trend overall. we're looking at job growth. we're looking at job creation. and we see a lot of very good momentum in the numbers. the one numbers that went down were government. we've always said government is going to get smaller the private sector is getting bigger we see job creation

just a hair away from being upgraded possibly back to a category 5 if you look at shares of xl group, chubbe best performers in the sector the stocks have taken very large hits over the last couple weeks. so perhaps some short covering or shorter term bounce traders will be using manufacture the stocks as sentiment gauges for the effects of irma as we watch the storm in the corner of our screen >> we'll continue to keep an eye on it. financials is it ril down 3% for the week dom, thank you >>> still to come, amazon, we know they're looking for a city to build the second headquarters the cincinnati mayor making his pitch to us next "sawaly"s ckn moment eather emergency... extreme risk of burst pipes and water damage... soon, insurance companies won't pay for damages. that is, not if they can help prevent damages from happening in the first place. at cognizant, we're turning the industry known for processing claims into one focused on prevention with predictive analytics, helping them proactively protect the things that matter most. get ready, because we're helping leading companies see it- a

all state, chubb and aig damages are expected to run into the tens of millions of dollars.e lower since flooding will account for much of the damage now i send it downtown for the start of "squawk alley." guys >> thank you good morning it is 8:00 a.m. at lululemon headquarters in vancouver, canad canada "squawk alley" is live. ♪

hurricane-related stocks, progressive, chubb, modestly to the upside and cruise lines are, lisle royale depot, loews. not surprising after the rally last week. martin marietta, and modestly on the plus side you can see. thanksgiving had a tough couple of weeks higher yields are bouncing back. regional names, bb & t, suntrust up side. recent ipos traded well last week that are related to the home business, floor and decor, for example. lots of businesses potentially gelled windows and doors maker. they all rallied nicely. basically flat today to slightly the down side. speaking of ipos, a controversial one later this week social capital coming. this is going to be an interesting one, because it's basically a spat a special purpose acquisition company. it doesn't own anything. it's specifically being set up by a tech entrepreneur a very well-known tech au entrepreneur go out, buy companies that haven't gone public yet potential ipos out there non-ipos, essentially unicorns trouble going public because a lot of people think they're overvalued the public markets will lower their prices thi

plus ceo will be here and the chairman and ceo of chubb evan greenberg and professional bull rider matthing on health care reform. the legislation would implement a block grant program that gives funding to the states and would also eliminate the individual mandate, employer mandate and medicaid expansion. the replacement bill has republican support. former president obama, however, is slamming the legislation and said the reversal would be frustrating at a minimum. >> i think they will do it the right way. tremendous support from republicans, certainly we are 47 or 48 already senators and a lot of others are looking positively. >> all of them doing without any economy or plain common sense rationale, it frustrates and it's certainly frustrate to go have to mobilize every couple of months to keep our leaders from inflicting real human suffering on our constituents. maria: blast from the past. the president now is calling senator rand paul the lone gop leader who has came out against the bill. rand paul is a friend of mine but he is such a negative force in fixing health care. graham-cas

both the federal and state level, is ground zero for this emerging industry for insurers like aig, chubbrage for homeowners. so the flood insurance agency, which is based here in the state, is the biggest producer of those policies with $4 billion in property insurance written around the country 20% of that just in florida alone. so ceo evan heck says between hurricane harvey in texas last week and all the anticipation around irma, he has seen a huge spike in applications. >> traditionally that volume of requests for low hazard insurance goes up about 50% during the hurricane season. right now it's up 1500%. >> reporter: so the agency already had to put a moratorium in place, that's going to be in place until september 20th as it moves through all of these applications and this event. but, guys, this is going to be watched very closely here because irma really represents the first truly potentially catastrophic flood-related event here in florida for all of these private insurers, starting to dip their toes into this market. the insurers, policyholders, lawmakers, are all going to be wat