country joe kernen. >> country joe.nusually volatile time, you want a financial partner... who is unusually prepared to help. the meeting with northern trust went well, didn't it? yeah, they get it. they really get it. a little more stability would be nice. northern trust offers the strength and expertise... that can only come from a 120-year track record... of thriving even in difficult times. they understand. roller coasters are for kids, not money. ♪ northern trust. wealth management. asset management. asset servicing. >>> time now for a check on the news outside the world of business. monica novotny joins us with a roundup of the headlines. is country joe okay with you and all your friends over there at our sister network, msnbc? is that going to be a problem? >> is what going to be? >> country joe. country joe. if i use country joe, is scarborough suddenly going to call himself country joe if i do this? >> you'll just have to call joe. >> oh, you mean charles. what's going on? >>> schools will be playing host to th

i'm carl quintanilla along with joe kernen. becky is off today. a lot of the agenda today, fresh reads on the health of the u.s. employment picture and the housing market. at 8:30 this morning, we'll go weekly jobless claims. economists forecast that claims will jump by 13,000 after a pretty good drop last week. meantime, august housing starts seen jumping by 3.3%. later on this morning, look for philly fed. at 10:00 a.m. eastern, we had good numbers all this week, industrial production, empire state, they've all been looking pretty good. we have corporate stuff out today, too. >> philly, i think philly cheese, but it's felly fed. one of these days, we're going to lead with the market. but let's not. >> we're a couple hundred points away from 10,000. >> is that what you mean? >> yeah. but i don't want to talk about it and i don't want to lead with it. it is the lead story in the journal but quietly they've been putting it to the top of the 12 point. we're lulled into whether you read it there because it's eight of out of nine days, i think. that w

i'm joe kernen with becky quick, carl quintanilla. our guest home. joe kern. i don't butcher your name. >> carl quinn sounds like a guy -- >> superhero. >> you're built like a superhero. >> thank you. >> meredith whitney, ceo are meredith whitney advisory group. futures have been indicating a lower open. check it out now. they have till come back from down 28 or so. going to be a long session with jobless claims today. that could influence things. >> president making a pitch to health care reform to a joint session of congress. >> the time for bickering is over. the time for gain has passed. now is the season for action. now is when we must bring the best ideas of both parties together and show the american people that we can still do what we were sent here to do. now is the time to deliver on health care. >> the president still wants that public option in a bill. although he does say he remains open to some alternatives. gm made a decision about the future of european opel unit. gm is considering two potential bidders but there are also some reports

i'm becky quick along with joe kernen. carl is on assignment today. but we have plenty of things happening on the agenda this morning. in fact, we have two economic releases of note. first upcoming at 9:00 a.m. eastern time, we've got the s&p case shiller home price index. economists are looking for that index to have dropped by 14.2% in july. that is the least it will have dropped in 17 months if that's the case. then, one hour later, we get consumer confidence. forecasters are looking for the september reading to rise from 57 to 54.1. what are you laughing at? dmuth. thank you for coming in. thank you. i hope you feel better. you're sniffling, the minute the boards comp up, you're -- you're doing all this stuff. >> you were here by yourself and i couldn't leave you by yourself, but i promise, i won't breathe on you. >> it seems like it's a cold. it's a cold. it's not is swine flu. i don't have a fever. >> no fever. >> no. none of those body aches or anything or i wouldn't have put you at risk. you've been washing your hands. >> i have been. >> don't

i'm becky quick along with joe kernen and carl quintanilla. we've been keeping an eye on the markets this morning. let's start with taking a look at the futures. you can see right now that the futures at this point are above fair value, but not a heck of a lot. you're talking about dow futures above fair value. anything could happen today. we have four key sxirations. you have the stock index and options and stock index and options. the volatility at this point could be the name of the game. you've been watching volatility drop in recent sessions. at this point, the vik onlilty about 23.5%. anything could happen. >> as we continue to wait to see if the we get to dow 10,000, guys. we've added 500 points to the dow this week. it's been pretty amazing to watch. big consolidation. pullback yesterday. >> 0.08%. >> and this morning, i was a little tentative reading that, that the futures were -- they were down 25 and what is it, did fair value down 12 or something. but it's very thin, liquid trading at this point. but there is that rally. you know,

i'm joe kernen along with becky quick. carl quintanilla is on assignment today. before we get to the market flus, another -- an earthquake is being reported in indonesia, felt as far away as singapore and malaysia. it's a 7.9 magnitude quake, sumatra region. we'll let you know about that. but let's get right to the markets here. in this country, jessica hoversen is standing by at the cme. we're closing down the quarter, jessica, and what does that mean for people that didn't enjoy any of these gains in the quarter? do they -- it's too late to try to book it now, isn't it? they have to hope they don't underperform next quarter. >> well, i think the amount of cash sitting on the sidelines still speak to the fact that a lot of people are cautious about the economic recovery and the euphoria that we did see in the stock market. there's a lot to focus on this week. i think the market's attention will obviously look forward to the earnings season, but keep an eye, very acutely focused on the data. today we have adp, we have the

i'm joe kernen along with becky quick. carl is out today because we didn't realize it was his birthday until the end of the show and he got out of is yesterday, now he's gone today. he says he's 39. that's what everyone says they are, but i think he is. i've been 39 for a while. host george pataki, 39. >> i'm actually 49. >> he's with a law firm which specializes in insurance matters, energy. we're going to talk about all that. but first becky has this morning's headlines. she stayed here. >> i didn't abandon you. >> thank you. >> let's talk about this, top stories. treasury secretary tim geithner hosting a town hall offered a blunt assessment of the u.s. economy and financial system while vigorously attempting attempts to avoid another great depression. >> today because of the effectiveness of the actions we've taken, this is just the beginning, more than $80 million back to the treasury. that goes to reduce how much we have to borrow and means we have more resources available to do the necessary things our country needs.

i'm carl quintanilla along with joe kernen and becky quick.he leaders of the worl's most powerful nation gathering here today in pittsburgh. last night, the president hosted a dinner with the heads of state. treasury secretary geithner hosted finance ministers in a separate gathering. today they're going to head behind me for some great meetings and we have a great lineup of guests behind me to help set that agenda. we'll talk to governor ed rendell at 8:15 eastern time. also global risk expert jim rick eithers. and then the eco of bear, a company based here in pittsburgh will talk about what it's like to be a multi national, the g-20 has put a spotlight on pittsburgh. then, bob zoellick, some interesting things to say about the low grade fever we have right now when it comes to world trade around the globe. first, we'll get to some top headlines, right? >> that's right. howard dean is in the building with us now. the former presidential candidate will have all of those things coming up. research in motion first report a prot that rose over la

i'm joe kernen. >> were you a fan of that show? >> no, i wasn't.with carl quintanilla. becky quick is feeling under the weather today. i think she loved that. >> that's late '70s. >> was that laverne and shirley. >> our guest host republican senator from new hampshire judd gregg, ranking member of the senate budget committee, newly appointed member of the banking committee. we're going to be talking with him throughout the hour. we've got headlines first and i think carl will give them. >> ninety minutes earlier kpros announced it's acquiring affiliated computer. ursula burns talked to us about the deal a half hour ago? >> we actually are clearly focused on core document manage process in the office. front office and back office. acs is focused on business process outsourcing. the connection of these two companies is called for by our clients. they have been telling us over time as we engage with them more and more, either acs with xerox we have to bring these two infrastructures together and help them become significantly more efficient. that's wh

i'm joe kernen along with becky quick and carl quintanilla.utures at this hour are understand indicating a lower opening. we never got that big 100 point pop yesterday, although it was a solid session, all in all. and after a small pullback last week, september is in question. >> better than the seasonality might suggest at this early stage of the game. >> yep. >> commodities prices were higher, commodities and industrials were leading things. >> equity is up, dollar down. >> and since march, it has been a huge shocker for anyone looking for the test of the lows, the double dippers. they've had it handed to them. you might ask me what. >> what. >> what. >> this morning, we're getting an inside look at the penthouse of bernie mad yau. for months, you saw tv crews parked outside in manhattan. mary, good morning to you. >> good morning, carl. now, the government is hoping the collect between $8 million and $10 million for this 4,000 square foot two-story penthouse. the one bedroom features a bird's-eye view of manhattan. its walk-in closet is a

but -- >> i'm joe kernen. becky is here. carl is here.he futures at this hour started yesterday bad. they never got really that serious. and actually, i think it was positive a couple of times. finally, i think it was down -- down by about 40. >> yeah. but it looks like it was ominous the first thing in the morning. monday, the other averages were down about 85, 90 points. sometimes that ends up at 200 or 300 points down. and some important stocks, blue chips were up yesterday. the federal reserve is convening a two-day policy meeting in washington. i don't know whether this has anything to do with -- probably not. it probably has to do with the dollar again. the bank is expected widely to keep rates near zero and keep emergency programs in place that encourage spending and borrowing. a sdig on rates will be announced tomorrow afternoon. economists will be looking to see if the policy statement echos chairman bernanke's comments from last week that the recession is very likely over. >> we've got a busy week ahead for the bond markets. you

i'm joe kernen along with becky quick and carl quintanilla who is reporting from pittsburgh.he futures at this hour were back to showing a little bit of upward momentum after the selloff late yesterday. i think we were up about 30 points. now we're again at 32 points. we're down -- when the futures went down 20, we were only up around 10. now up to showing a 30-point gain. carl, you're doing something right down there. let's head back to you. there he is. now the sun is out. still a nice shot. yeah. >> yeah, got a little more light. we are actually at the alcoa corporate center. i'm told we're on the paul o'neal terrace. that name ring a bell? >> he was a red, then really made a name for himself at the yankees. one of the sweetest swings that i can remember. i don't even remember him playing for the pirates really. >> right. right. too long ago. joe, the president is not scheduled to arrive here in pittsburgh until this afternoon but some other world leaders are already here. delegations from saudi arabia and indonesia both arriving yesterday. the global economy is obviously

i'm carl quintanilla with joe kernen and becky quick.ow coming off the bess weekly gain in two months, although we have some downward action, downward day in asia as we get ready for a week filled with activity. the fed meeting and g-20 and so forth. we're going to start the day off 70 points below fair value. oil with a stronger dollar might be coming off a little bit. $1.51, 753. ten-year note a lot of treasury supply. $100 billion worth yield on the ten-year, 3467. dow off the lows we saw. on the board, close to 92 again. almost to 80, just under 90 earlier last week. then with a stronger dollar gold is off a little, still above 1,000 at last check to 1,000170, down $8.60. >> shell announcing acquisition for perot systems. it's a $3.9 billion. market cap at 18, 2.16 billion for perot systems. bid is 27, ask is $29 a share, create a comprehensive computer focus i.t. service company it says. not subject to financing. it's cash for $30. it will be a tender offer to acquire all outstanding shares. the directors expected to consider ross p

i'm joe kernen along with carl somewhere. he's in the building supposedly.is not here, though, she's on assignment. in studio, he stayed with me on set, guest host peter coen, guest host of ramius. are you there, carl? >> i am. there's actually a chair in here with your name on it. >> i won't be back in time. i'll be hobbling along on these arthritic knees. >> a report out of london, a bid for sprint nextel, shares higher earlier in trading. london telegraph said deutsche brought in bankers to put a bid in for sprint in the next few weeks. >>> cutting $100 million from the billion dollar deal wii lan. developing drugs will remain unchange. they want to reduce the cash they agreed to pay because a judge ruled earlier that part of the deal breaches a partnership between elan. >>> cadbury a crass offer letter. says the proposal asked the candimaker's holders to swap their share for a company with less focus business mix and historically lower growth. >>> check out futures.s. a lower morning after asia, specifically nikkei, down, 80 points below fair value. >> c

there is another life, especially in asia, europe and the united states if you're joining us there, joe kernen joins us. hi, joe. >> hey, louisa. yeah, a changing of the guard we're going to be talking about at morgan stanley with john mack stepping down and being replaced by brokerage chief james goreman. we've lined up a team of industry leaders and insiders. we would be crazy if we didn't tuck ta about the health care reform. both sights a passionate ly doig this. >> we're going to the former short majority leader dick armey preparing to lead a march to washington. people continue to see where is the mark higher? >> we'll look to ride the rally when "squawk box" starts right at the top of the hour. back to you. >> thank you for that, joe. we look forward to it and have a good weekend once it rolls around. >> thank you very much, you, too, louisa. >> for more on what the u.s. trading day has in store, we're joined by dodge dorland, chief investment officer at landor management capital. which of these are you looking at closely? >> all three. and the reaction, by the ebtd of the first 45 minu

i'm joe kernen along with carl quintanilla. and becky quick is reporting live from washington. and viewers have pointed out, becky, travel is good. i mean, it's not bad. but it's good. the travel industry, we should not tell businesses not to do this. this is part of commerce. i commend you. >> and you've been a big pusher of saying that we need to be get out there and traveling and staying at nice hotels and traveling. >> and i've been a drag on business travel and i -- >> you've been a drag. >> just a drag. but we commend b, becky, for doing your part. thank you, joe, very much. thank you, carl. i am at the national energy summit and the national dialogue. this is being held by the council on competitiveness. that's where corporate, scientific and academic leaders are all meeting to talk about keeping the nation a step ahead. we have an all-start lineup ahead for you this morning. we will but talking about the chairman and cochair of circumstantial stainability act and. joining us in just a few minutes, a man who knows a thing or two about energy. john hofmeister is here. rig

i'm carl quintanilla along with joe kernen. becky is in washington from the national energy summit. a lot going on today and some major guests coming up as a result. becky, what have we got on tap today? >> we have an electric lineup on tap today, carl. we are at the national energy summit being held by the council on competitiveness. this is where corporate, academic, scientific and political leader are meeting to talk about the need for our nation's competition and competitive drive going. this is not new on squawk. yesterday we spoke of energy and all kinds of things with former president bill clinton. >> the world is organized for yesterday's energy patterns, not for tomorrow's. we have to use the nongovernmental movement in a way to organize for tomorrow the's energy. >> and this morning, we have an all-timelinup over the next three hours. we're fog to be can deborah win smith. we have the coshare of the energy security sustainability notion. we also have the ceos of arch coal and constellation energy group. former governor john engler, as well. right now, we will send it back

joe kernen is one of the people at the helm of the u.s. program. hi, joe. >> louisa, we have an olympic sized edition of "squawk box" it says here today. the olympics are like 2 1/2 weeks or something, aren't they? >> an olympic sized swimming pool means huge. >> big, okay, it's a big edition of "squawk box" because we have this guy, jim chain yoes. he is going to be our guest host, well known hedge fund guy, that doesn't like his nickname, mr. shorty. we're not going to call him that, but he has done well over the years. he's one of the big guys to figure out baldwin united when he was in his early 20s and enron much later. he's in demand by rollywood types to consult on the new wall street. i mean, this guy is the real deal. it would be great to talk to him as president obama gets ready to talk about health care and to address a joint session of congress. we've also got a former fda commissioner who knows all about our issues. then we've got inside the scam of the century, again, a new video of bernie madoff's new york city penthouse and his digs

i'm becky quick along with joe kernen and mandy drury. carl will be back on tuesday.iday. our top story today, the august employment report. polled forecasters say the economy likely lost another 233,000 last month. that is a big number of job losses, but it would be a decline because it's a slowing pace of job losses. but the unemployment rate is the important number, too. that is stekted to tick higher from 9.5% from the current 9.4%. >> me? >> yeah, you. i know. it's a tough re-entry. >> i'm rusty here, not that i was ever that -- okay. old parent and young children do not make for a relaxing vacation. >> you need a vacation from your vacation. >> i need a vacation from my vacation. we're going to rt sta right now. but i will read a-4, markets. futures ahead of the jobs report today, let's take a look, up 260. i was actually going to talk about this a little bit, guys. waiting for a gadeau correction. while i was there, i could not pick up a newspaper without reading that the pros, it's in their gut. >> even the pros were expecting a correction. >> where is it? may

joe kernen is here to tell us what to expect. >> hello, louisa. it's been a while, but maybe still well known. we're going to talk about usual things today like jobls, fixing the economy, health care reform start, our guest host, former white house economic adviser glenn hub barred. also from public to private, citizen james lockhart, former director of the fhfa is now working for wilbur ross. it's a vice chairman now at wl ross and company. and it's r glenn hubbard as opposed to l. ron hubbard. because if we had the other guy, you can imagine. oh, my god. anyway, he is going to talk to us, mr. lockhart is. also making the right call on the credit crisis. shawn eegan is going to tell us if anything has changed, when the next storm is crewing and you can comment on that blockbuster court ruling affecting the ratings agency, as well. gold hitting 1,000 and president obama's big health care speech, "squawk box" will start at the top of the hour. back to you. >> joe, thanks for that. we'll see you in a bit. >> okay. >> and it's been so long, joe needs

joe kernen joins us to tell us what to expect. don't look so happy, joe.on. >> you know, they don't call it wall street for nothing. what is that the. >> london, do you have a street over there? downing. i don't know. i'm not sure where the financial center is. but it's called wall street for a reason. we have two legends on today, billionaire invest every wilbur ross. we're going to find out where the turn around specialist has been circling lately for the best opportunities to make money. also, former bear stearns chief allan ace greenberg. we'll get his reaction to the wall street crisis a year later. he's going to sound off on the compensation industry surrounding the financial industry. also, we have consumers on the ropes. spending is down. holidays are just around the corner. find out which consumer stocks are ready to move higher, potential hi pop we'll give you some names that might surprise you. not your ordinary consumer staples. and we'll spark up the health care debate. republican congressman mike pence and democratic congresswoman, allison pe

i'm becky quick along with joe kernen and carl quintanilla. who is reporting live from pittsburgh today. carl, obviously, the g-20 coming to pittsburgh is a big deal for america, very big deal for pittsburgh, but we have seen some clashes in the past at these g-20 events at some of the other huge events. why don't you set the scene for us and tell us what we can expect today. >> we have already. we're on our first at the alcoa corporate center. you can see the allegheny river behind me here. the president and other world leaders as you mentioned will be arriving here throughout the day. a lot of them are, of course, coming from the u.n. general assembly in new york. the global economy is at the top of their agenda. member countries represent about 90% of global gross national product, 80% of world trade, 67% of the world's population. as is often the case with global summits, the leaders will be met with protesters. the green peace activists yet repelled off of pittsburgh's iconic west end bridge. the demonstrators could be seen dangling from

i'm becky quick along with joe kernen and carl quintanilla. and we have quite a show in store for you today. hardly morning passes around here when we don't start talking about some washington story and the effect it has on wall street. "squawk box" is always at the intersection of it all. this morning, we're going to talk to some of the foremost leaders in business and politics trying to put it altogether for you today. our next host is former white house chief of staff john poe des ta. this is a man who was linked closely to the clinton administration and to the obama administration. also joining us this morning, mr. podesta's former boss, former president bill clinton to talk about his initiatives. on the other side of the aisle, we'll be talking about former new york city mayor rudy giuliani. well known businessman and former presidential candidate steve forbes himself and i'm sure we will get to the issue of taxes with mr. foeshgs. we've got plenty of things to talk about with him today. >> how is that guest list working out for you? >> p

i'm becky quick with joe kernen and carl quintanilla who is reporting live from pittsburgh this morningould he tell we'll get to some of the policy initiatives in a second. last night the president and the first lady welcomed the g-20 heads of state. in the meantime, the treasury secretary greeted all those finance ministers. there were separate working dinner for the two groups at the fifth conservatory. as the leaders were landing yesterday afternoon, demonstrators tried to make think way downtown. security is very tight. hundreds of protesters were met by police in riot gear. many of the marchers were advocating against capitalism themselves. they did not have a permit. after a few blocks, police declared it an unlawful assembly. they played an announcement over the loud speaker telling people to leave or face arrests. some of those protesters were split into smaller dpups. others rolled big metal trash cans at police. windows of some businesses were smashed, including a bank branch at a boston market vaunt. officers fired an occ gas, kind of like a pepper spray. there are about 50 a

and joe kernen is as well. he's in the run down. now breaking news on a new ponzi scheme. alert desk, what is it, scott? >> another day, another ponzi scheme. this one allegedly involving automatic teller machines, atm's two men, fans vance moore of north carolina and walter of texas indicted and expected to appear in court today in new york for an $80 million alleged scheme involving sales of atms. apparently, it was uncovered when one of the investors went into a hotel in florida or one of the atms he bought into was located, found that it wasn't there. called these guys and said, where's the atm. they said, well, it's been moved. apparently it was not moved according to authorities in new york. the u.s. attorney's office saying the scheme itself was a cash machine for these two individuals who, again, will be in court today to answer to charges of fraud and conspiracy. >> thank you very much, scott cohn. >>> word on the street here at the big board. and the g-20 and fed meeting this week. catapult stocks over that 10,000 level. we open this morning at 98.20. we have inv