tv Worldwide Exchange CNBC August 9, 2016 5:00am-6:01am EDT
good morning. crude reality oil prices pulling back. the house of mouse. today's stock to watch is disney, the company set to roll out quarterly results. >> plus delta tries to take flight. the airline still dealing with delays this morning 24 hours after the systems went down. refunds and vouchers on the cards: will it be enough for forgiveness of customers? it's tuesday, august 9, 2016 and "world wide exchange" begins right now.
good morning. haip happy tuesday. welcome to "world wide exchange." i'm sara eisen. >> i'm wilfred frost. good to be back. >> you took a day. >> you took a whole week enchts let's get to the markets. we saw some minor declines s yesterday. s&p off half a point. nasdaq up .6%. as for the 10-year treasury note yield. let's show you the action after heavy week of economic data topped off by a better than expected jobs report and the 10-year yield is elevated from where it's been. little movement this morning. >> yesterday's negative activity was seen across most of the sector. seven out out of ten. oil prices rose. let's have a look at the
overseas action. german imports rose more than exports. see the european trade is positive. the dax up just half a%. ftse 100 up .25%. let have a look at uk assets this morning. the 10-year did hit a fresh all-time low. it bounced back slightly from that level. production came out and was slightly better than expected for june, just seven days of course in june post the brexit vote so not particularly brexit related. earlier sterling dipped below 1.30. it's now back. either way we continue to see the uk assets in particular bonds and currency move in a risk off way and we see the spanish 10-year bond fall below 10% this morning as well. >> back to a low. not the immediately low we saw after brexit, but we're getting
there. the central bank decision of the day takes us to india. this was the governor's final policy review meeting. the central bank didn't keep the plain rate unchanged at 6.5%. the policy stance remains accommodative. as for the rest of economic data. china overnight. increasing at the weakest pace in six months. 1.8%. wholesale prices, producer prices dropped 1.7%. japan's nikkei also continued its rally. hong kong off fractionally. >> broader market s as we cede yesterday. back above $43. 42.99 on wti this morning. pretty much flat compared to nice gains yesterday.
look at the dollar and pound, main focus dropped below 1.30. not too much action happening elsewhere. gold prices slipped sharply last week off the barrack of the job number. settled a little more. >> when it comes to the markets rights now, a low volume day. it's important to note we still are at record highs for the u.s. stock market. new high yesterday and closed at a record high on friday as long as stocks can hold the gains in the summer drums, i was watching fast money last nights and one of the traders said flat is the new down. we'll see about that. one factor that was certainly helping was energy. a 3% hike in crude oil. >> i just also the compare the difference of what we're seeing in bond markets. still low yields. we have seen the yields tick up particularly since the jobs
number last week. the opposite is happening in europe. sparking a lot of bond buying and that's led to bond buying across europe. the likes of spain falling below 1% today. that different perspective of what central banks might do. because of that strong number might we get tightening. >> it's not clear yet. yes, you might think that with better wage growth and better jobs the fed is moving in that direction, but if you look at the prediction, there's less than a 50% chance that the fed moves this week. that continued skepticism. >> this week would be a big surprise. >> this year. even though a lot of economists out there saying december certainly on the table. we'll have to see what the data does. it's a difficult environment because everybody else is moving so opposite in the other direction. >> and we've got a big vote coming up in november. they didn't want to go before a vote in the uk. >> they're not political.
not even watching the election. has nothing to do with what their policy is. >> sure. here's a rundown of today's agenda. at 8:30 the first estimate for second quarter labor productivity and cost is out. little later in the morning be on the lookout for wholesale trade data. on the corporate front, key earnings to watch. before the bell, coach, valeant, another name set to release after the bell, disney. we'll also get numbers from solar city and yelp. >> not over yet. particularly disney and how did the house of mouse perform in the third quarter, landon dowdy downs us with three things to watch. >> reporter: looking to report earnings. here are the three things to watch. first, cable networks. investors will be focusing on
espn declining numbers. the media networks are disney most profitable segment. it's take an hit. shares of disney have been up and down for months. currently up 13% of the past year. second the block busters. the mouse haas had a trio of hits. should help drive results. the parks investors will want to know how the shanghai park has performed also any insight to the impact of zika on disney world in florida. >> yes, i wonder. a lot of people have cancelled their trips. i've spoken to people going to palm beach county. not just miami. landon, thank you. in corporate news this morning, delta is not in the clear yet. expecting to cancel at least 100 flights today and delay about 200. still trying to recover from the
huge travel outage that saw nearly 900 flights cancelled and tens of thousands of passengers stranded. a power outage crippled the computer system. to make it up, offer a $200 voucher to passengers who flights were cancelled or delayed more than 3 hours. i wasn't -- you were here yesterday. did they ever get to the bottom of what caused the glitch? >> not specifically. what i was interested in how much of these customer haves to last for people to think i'm not going to fly the first airline. stock didn't really react. >> you get used to it from all airlines at this point. more stocks to watch this morning. gap posting. improved significantly and banana republican sales saw
declines. bio marin. offering common stock. shares are down 2.8%. >> lending club announcing financing chief resigned. comes a few months after the company ousted the ceo. staffing provider ran stad holdings is buying monster worldwide. no move in the share price. >> other stocks to watch this morning, twil owe saw revenue jump 70%. gave an increased demand for products. like netflix and uber to speak in text with customers without exchanging information. that has been a very successful ipo story.
united airline saw revenue tick up last month. pipeline company williams and master partnership agreeing to sell canadian business. news corp. posting an increase in sales in the latest quarter. this thanks to performance in digital real estate business. little action there premarket. former fox chairman roger ailes agreed to keep the sexual harassment lawsuit against him in new jersey. they tried to mover it to new york. filed last month. accused ailes of repeatedly pressing her for sexual intercourse and terminated her contract in june after she denied his advances.
business economic day. we take your live to hong kong next. plus on a programming note, don't miss an exclusive interview with walmart ceo dug mcmillen and jet co-founder. buying the commerce player yesterday. you can catch that interview, "squawk box," 7 eastern time. you don't want to miss it. we're back in a couple of minutes.
welcome back to "world wide exchange." yesterday we were just blow flat,ed to just above flat. the reason we stay broadly flat overall is because energy outperformed up 3% because oil prices were up 3% yesterday. today they are just below flat as you can see. down .20 wti. >> we saw mostly green in asia overnight with most of the major embassies closing higher. summarize some of the economic data we got overnight, cherry. >> reporter: let's start off with china. both cpi and ppi inline with the trade we got. the big fall of 12% yesterday. china cpi coming in after 1.8%
gain on year. coming in well below the official target of 3%. and we see a little bit of comfort with the ppi numbers. we saw 1.7% on year drop. a smaller decline than what the market was expecting and this certainly compares with that 2.6% drop that we saw in the month of june. so this can sort of build that market expectations that the overcapacity issue in the chinese economy could be easing to some degree. we have more indicators coming out of china this week including industrial production and retail sales. i want to take you to india now. quite a different inflation story out of india. the central bank keeping its key rate at 6.5%. which is a five-year low in line with market expectations. it was mostly on the lookout for the quickening pace of inflation.
the country saying the risk to the inflation target of 5% continue to be on the upside saying that, quote, it's a awaiting space for policy action. remember the june cpi figure that we got rising 5.7% which is a 22 month high on higher food prices. what the market does not know what to expect at this point though is that who the next rbi chief will be as a successor has not been named just yet. >> what is the read right now on emerging markets? it feels like a lot of currencies like brazil we've been talking about and a lot of asian currents have been doing better after the brexit vote. is there a better feeling about the global economy and some of these specific economies in general? >> no, well, since the brexit referendum, we have shaken up a lot of the brexit related jitters, but there are some individual economic stories
coming out of these emerging markets and as we go, we'redy justing all these economic datas and earnings that we've been getting since the brexit vote. >> thank you very much for that update from hong kong. still to come here on "world wide exchange" after weeks of political discourse, the nominees are now hitting the issues americans care most oobt, t about, the economy. before we head to break, here is today's national weather forecast. >> good tuesday to you. welcome back together. we are going to see more rain again today across the south. some heavy at times. rain in florida seems relentless. it expand with more showers out there and all the way back across the louisiana coast. northeast sunny, yes, but not quite as nice. really noticed a change in how it feels outside today. from the bhid west to the noort east we do have thunder storms.
if you went to sleep early last night, you missed some great moments in rio. joins us live from briz with all the highlights. >> good morning. that music fires you up in the morning. look, things really couldn't be going any better for team usa in these olympics. right now they're leading in the overall medal count and today looking to add even more. team usa continues to make a splash in rio. lily king swimming gold in the 100 meter breaststroke. >> proud to represent usa and get the gold for the country. >> reporter: americans grabbed more gold in the mens backstroke. ryan murphy surging from fourth to first in the finals. david bedieia finished with silver in synchronize ed platfo.
ker equi swimming stars michael phelps and katie won't have to wait that long. they have a chance in the olympic pool tonight. >> reporter: they dominated the qualifying round, finishing a staggering 10 points ahead of second place china. should be an exciting day for the olympics. >> jay, the swimming has been particularly exciting and if gymnastics. when does most of the track and field stuff get going? >> not until the next week. it's of course the other high profile event here in rio and so they'll get through these gymnastics and swimming for the most part and then all of the attention will focus on the track, and, again, team usa with a strong team. it should be interesting to see how they do there. >> i'm excited for women's
gymnastics. >> you've only got one gold. >> it's a world record. >> number 10. >> reporter: it was a world record. >> exactly. thank you very much. we look forward to more updates. >> let's move on to politics. donald trump. and hillary clinton. both focusing on the economy this beak. tracie potts joins us with the latest from the campaign trail. >> reporter: good morning. on the campaign trail today we have hillary clinton in miami. she's visiting a health center dealing with the zika versus. donald trump also heading down south and dealing with a new round of republicans rejecting him. in a washington post today, susan collins rights donald trump lacks the judgment to be president. showing a completely disregard for common decease si. this after 50 republican
national security expects say they won't vote for trump. they say he'd be the most wreckless president in american history. >> this is a movement that's been swimming upstream against an avalanche of megatinegative >> a poll puts him 13 points behind hillary clinton, but he is getting support and more criticism for clinton on trump's economic team. >> he's got three wall street money manages, an oil barren, a chief economist. >> changing tracks brackets bringing it in line with washington republicans. >> i am going to cut regulations massively. >> and he's promises to give family as full child care deduction. >> that's something democrats have often been pushing for in the meantime, hillary clinton is
facing a new bangladesh lawsuit from parent who is say mishandling her e-mails may have led terrorists to that location. her team is pushing back saying this is something that's been asked and answered essentially that's she's been cleared. >> on those attacks on donald trump's economic team. do we know yet who makes up hillary clinton's economic team and when we're going to get more details on that. >> that's a good question. we'll be digging into that today. >> i'm waiting for that. since we know all the economists here at cnbc, the names. >> the really interesting thing about his thing, he tries to frame himself as being the future and hillary as being the past. there's definitely aspects which does talk to that, but other areas that brings us back to the past. it's like ancient time and whether he can balance the message we wants to deliver with some other factors hidden in
there. >> back wawhen we get to the mu reads, it balances that. >> there's a lot of good ones this morning. there are some ideas in there. i listened to the whole speech yesterday. >> sure you did. >> i did. and there were so much attacking of hillary clinton i could barely here what the economic proposals were. there are some and they are worth discussing: >> corporation tax cut to 15%. i mean, it's a hard one to pay for, but it makes sense if he can pull it off. >> no to mention all the way down to 10%, but yes the question is how to pay for it. >> when you say aarons yesterday was eating ice cream. >> part of it. >> when we come back, want to score an invitation to the rio olympic games. you better get clever and start tweeting. just ask ghost buster ago tre e
says she's not voting for donald trump. the details in today's must reads coming up. plus a blast from the past. why pepsi thinks a trip back to the 90s could give soda sales a pop. >> i'm wilfred frost. a very good morning to you from me as well. let's check in on the global markets. futures pointing to a higher open. all be it, slightly. seven out of ten were in negative territory. the indexes as a whole were propped up, which rose 3% today. we're looking at slight gains. the dow higher by 10 points. european trade was pretty positive as it was on monday. those markets doing well now since brexit.
we're up another half a percent or so across european trade. in the uk, still issues. they are being seen much more in the currency and bond market than in the equity markets the uk 10-year falling to another record low as the pound fell below 1.30 gwen. it has recovered from that level. it was 2% at the start of the year. brexit having a big effect on the bond market. let's have a look at asian trade as well. seen decedent performance there. for the most part, hong kong flat and shanghai and japan up 0.7%. >> the central bank decision of the morning takes us to i understood india. this was the governor's final review meeting. he kept interest rates unchanged. ra change ra january says it remains unaccommodated.
back above $43 a barrel. wti is flat in morning. we'll see which way it decides to go. energy shares outperformed in the stock market yesterday. brent 45.34. we'll see what happens this morning. as for the 10-year treasury note yield. coming off the better jobs report, just below that this morning. some slight buying of treasuries in the early morning session. the dollar, the big story here is the british pound, as wilfred mentioned, it's at a one-month low. we're back in the 1.20 level. just kicking off the bond purchase program. the easing is having an effect. >> it is'sing. it was more talk from one member
of the bank of england of possible further easing. the at the we had today wasn't too bad. july, retail sales showed a bump upwards and one analyst saying beer and bash bar b-- i would point out also the japanese yen is slightly stronger. usually sets the tone. as for gold, moving in the opposite direction of the u.s. dollar. it's off. you can see it holding near recent highs. today's economic and corporate agenda. we will get a read on where main street is when small business optimism is released. 8:30 the first estimate for labor product activity and cost is out. before the bell, coach, valeant, two of the big firms set to
release. after the bell, disney is going to be the big one to watch. and just to factoid as we look through the economic data, some of the smaller data points on the agenda today and this week, especially after the last jobs report, but david rosen burg writing that the last time the federal reserve waited this long, six months after a hike, the next move was a cut. >> that is interesting. >> which some people are thinking could happen. if you're looking at the labor market versus the gdp. >> it's not going to be a six month weight or seven or eight or nine. it's going to be 12 months. i wonder if there's data going back if you wait even longer. >> i don't know. >> we'll have to wait and see. >> david, write back. >> the big one, wall street analyst looking for disney to earn. among the big areas to watch, theme park attendance, the performance of the cable
networks and the studio business. shares of disney year to date down about 9%. the fact in the premarket today. >> in corporate news this morning, delta in the in the clear just yet. the airline is expecting to cancel 100 flights today and delay 200. it's still trying to recover from a huge travel outage. saw nearly 900 flights cancelled and thousands of passengers stranded. a power outage crippled the computer system. offering $200 vouchers to passenger who is flights were cancelled or delayed more than 3 hours. >> time for top trending stories. leslie jones is heading to rio. enthusiastically tweeting live olympics. she was tweeting her narration of the olympic games on multiple
events on multiple screens throughout her house. got so much attention and retweets and favorites which did not go unnoticed. tweeting, okay, you're officially invited to rio. want to come? >> leslie later tweeted a video of her decked out in a rio hat which is captioned rio bound baby usa. >> such a good story. huge enthusiasm by her and being rewarded by nbc. >> absolutely. >> enjoy the trip. twitter is looking to sublease 30% of hq. 120 conference rooms and five kitchen. a comment swirt stating we're also looking at ways to use our office spaces more efficiently and effectively. we remain committed to our home in san francisco. perhaps another sign they're not doing that well.
>> extra revenue. pepsi is going all in on the 90s. the company throwing a summer of 92 event tonight. headlined by appropriately, salt and pepper, liz lobe, envogue, all the 90s favorites. >> what about my boy bands. >> not as popular in this country. >> we tried it. i gave you a taste of crystal pepsi. it's clear. >> that was a while back. it's taken them a while to launch since then. >> the event also features a 90s cut and style salon. >> it sounds great, but throw in a british boy band too. >> envogue not doing it for you. still to come, must reads.
she says she cannot bring herself to back trump for president. she makes her case next, but first, on a programming note. don't miss an exclusive interview. walmart ceo and jet.com co-founder. it's the first time we'll hear from both since walmart announced it will buy jet yesterday. becky quick will be doing that interview just over an hour's time. don't go anywhere, you're watching cnbc first in business worldwide. our body. it keeps us comfortable and asleep at night. change your sleep, change your life, change to tempur-pedic. learn how you can change your sleep by requesting a free sample of tempur material. call or click today.
raghuram. back to "world wide exchange." we're looking at fractional gains as you can see. the dow around 10 points. yesterday we were lower to the tune of similar amounts. valiums a little bit lower. people focus more on the olympics than trading portfolios. ail is the big driver yesterday. energy was up 3%. brought the markets back today. take egging a bit of profit for gap missed stores estimates. the clothing companies didn't see foot tracks improve significantly and banana republic saw sells decline. lending club reporting a
wider than expected second quarter loss. staffing provider randstad is buying monster worldwide. that deal worth $34 million. twilio saw quarterly revenue jump in the latest quarter. and gave a strong outlook on increased demand for its products. news corp. posting stronger than expected sales. digital real estate business. so mixed quarter there for news corp. >> now to today's must read stories catching our attention. this one is making the news today gop senator susan clinics wri collins writing for "the washington post." why i cannot support trump. saying mr. trump's unsuitability for office is based on his disregard for the reseptember of treating others with respect an idea that should transcend politics. instead he opts to mock.
this one got a lot of attention. it's a lael big development in the last couple of weeks. not only is he now lacking support, he's actually getting activelily criticized. the question is will any big profile highly recognizable names come out, republicans, against him and are they going to vote for hillary clinton and endorse hillary clinton which is the other thing. a lot are saying i can't vote for trump and then the assumption there is they're not voting or they're going to go for an independent party. >> it's the establishment. is that going to swing the sentiment of the swing voters. >> everybody this morning is writing about the economic plan so my pick was in the wall street journal. trump on the economy. they praised him for certainly things. they do write the question here with mr. trump is how much of his read the agenda would interfere with pro-growth kmesic
policy. if they blocked the worst trade instin instincts. look out the with new yorker you never know. the trade policies are daujs, could hurt growth, could hurt the u.s. consumer. take us back ward while they praise some of the domestic policy, they said the trade policy could endanger the whole thing. >> that's the big one of debate. i'm going to throw in another one. we didn't plan this one. financial times is michael phelps the most successful olympic yan of all times. it does include he is the most successful of all times. it goes through a lot of different measures. in the swimming events there are way more events they can compete in as compared to running. also has a lot of relays added to swimming he has more to compete on. also looks at things like percentage of golds versus
events entered, and, again, he doesn't top out on that. overall it concludes hoost the greatest. well worth the read. >> any gold medals. >> five british golds across five consecutive tournaments which is pretty impressive. spread across 20 years. gets you excited for the olympics. >> phelps just got 19. >> he's incredible. >> we're going to add a fourth must read. our very own writing donald trump's economic team is far from typical. mr. trump's challenge as he's trying to be two things at the same time. anti-elite yet absolutely elite. this is tough as he wants to be seen as a successful billionaire businessman. andrew, so much focus of course on the fact he's giving us more detail in terms of who is in his team and ha his policies are.
>> i thank you for adding that to your estimamust read list to we will be talking a lot about trump. we're going to be hearing from john harwood who was in detroit as you know. we have douglas gaits whose going to take a look at the economic plan and put numbers to the whole thing. we asked him to come back. we're going to have gene sperling. a couple of other things to tell you about, in the 7:00 hour, we have the ceo of walmart and ceo of jet. they're going to be coming to us from jet's headquarters. becky quick is there now. we're going to be talking about what the deal is all about. a book for you to must read, thrk is a book by james andrew miller. cia and the agency business. this is spectacular. he's going to be on the show in the 7:00.
and then we have nick cannon from america's got talent and because you have so much talent, maybe he will come and be watching and judge you. probably judging us, but who knows. >> that is a very diverse. >> we have a lot going on. >> must reads and must watch all in one morning. >> when we come back, we'll get you ready for the trading day ahead. he's joining us next. you're watching cnbc. first in business. "world wide exchange."
today. >> china is delaying marriotts purchase of starwood. need 60 more days to review the proposed acquisition of starwood. a green light from regulators is the last remaining hurdle here. received apreviously from the u.s. and european union. >> let discuss global market as little bit more. rich, very good morning to you. stepping back for some of those corporate stories in china. we have seen asian markets pretty strong in the last month or so. is that justified? is there fundamental strength there or post-brexit risk bounce. >> i think it's a bit of both. coming into the year, wilfred, there was a lot of concern about what china would do with the currency. we had the surprised devaluation a year ago and thus far that concern has not really materialized and so i do think
we've had a rebound. obviously brexit turned out not to be a lehman moment and you have easing out of the bank of england. as a result i think risk markets have done really well over the last several weeks. >> what does it mean for the fed, rich, particularly as we continue to get better economic data like another strong jobs report. >> exactly. we did have one rate hike out of the fed so far this year they have not hiked again. the jobs data has been strong. gdp has been soft. inflation is starting to move up to target so i think this is a fed that does want to normalize. i think we'll get another hike this year. there's a case to get a hike in september although the fed may want to wait to get more data, but certainly the u.s. economy is near full employment. it is time for the fed to get on with normalization. >> is that what pimco is heading there's going to be a fed hike because it's not what is reflected in the bond market
right now. >> it will come later in the year. >> even this year at all. >> oh, sure. >> you don't see it. the investors are skeptical. >> and sentiment has been moving back and forth on that depending on what the fed its says, but i think it's a fed that does want to hike and our baseline is we do get one hike this year. >> does that mean the dollar really starts to sore with a more meaningful conviction given what we're seeing elsewhere, the bank of england now adding its to the team. >> exactly. i think that's the challenge. bill dougly, the new york fed president made this point this week, that if the fed is too aggressive in hiking the, the dollar strengsens. there's going to be most gradual liftoff to history. >> rich, do you think the economy is strong enough that we're going to see corporate profits rebound this quarter or are we going to see the sixth i
think decline in profits in terms of -- on a quarterly basis. >> we have had that decline in oil prices and the stronger dollar, you know, so long as we're more or less at current levels, the census we do start to get a pickup in profits. we're in the middle part of the cycle so we're not going to be seeing double digit gains, but i think we probably will start to see year over year profits tick up pretty soon. >> we talked a little bit earlier about how asia has bounced back pretty well. european markets have done similarly well. is there a little overreaction there. is there more concern of possible political contagion around europe? we got through the bank stress test, but are there other votes to come. >> there's right. there's a lot of political uncertainty. you've got referendum in italy, france, next year you've got obviously the wild card of the immigration crisis so i think there's a lot of political
uncertainty on top of the typical economic numbers. that's right. >> what about the political uncertainty here, rich? you are a conservative leaning economist, what do you make of donald trump's economic plan he laid out yesterday. >> i've not studied it. i know steve moore and there seems to be a lot of similarities between what mr. trump was proposing and what paul ryan has laid out in terms of where he would like to see policy. there's a lot of familiar items there. reaching a deal on lower corporate tax rates. simple fifying the code. i haven't seen enough details to formalize a final judgment. >> we are hitting new highs every week at the moment in u.s. equity markets. are we underpricing the risk in election could deliver. >> that's a good point. right now the betting odds are 70% or so for a clinton victory.
i do think the campaign will add some noise and voltyty to the market. i think the key point to remember is in our system unlike a parliamentary system, any major legislative agenda is going to have to go through both houses of congress so historical historically, campaign promises and platforms are just a starting point for new presidents. >> but bottom line, i'm just going to pick apart one thing here because of your expert teeds with international economics, if the u.s. were to renegotiate or even walk away from nafda, would that be helpful or harmful to the u.s. economy. >> i think on nafta i think both candidates have said they want to rethink it. review it. it's been in place for 20 years. and obviously i think any president would have to take that into account before renegotiating it. >> rich, thanks very much for
joining us from pimco. about a minute left. one of the key things focus, the pound falling below 1.30. the other thing i factor in here i wonder if there's correlation in how the teams are doing in the olympics and the currency. it's been a low start for team gb. >> four medals, one gold. >> one gold so far. >> you're tied with thailand for number ten. >> i know. we're going to come through at the end. >> potentially more market relevant item i'm watching this morning is the price of oil which jumped 3%. energy is the best performing sector this week. got a big boost. on the back of that it was hit hard last week. we'll see if the energy bounce was just that or if it's a real recovery. we know the overall market watching that closely. >> also have a look, disney earnings top of the list.
"squawk box" that big interview with the ceos of walmart and jet. that's it for "world wide exchange." "squawk box" is up next. josh, don't you have friends coming over? yeah, so? it stinks in here. you've got to wash this whole room are you kidding? wash it? let's wash it with febreze. for all the things you can't wash, use febreze... ...fabric refresher whoa hey mrs. walker inhales hey, it smells nice in here and try pluggable febreze, with up to 4 times the freshness... ...in one refill. pluggable febreze and fabric refresher... [inhale + exhale mnemonic] ...two more ways toathe happy
good morning. we've got some crude realities for you. we have a full market run down. plus delta airlines trying to recover from the outage yesterday that caused hundreds of cancellations. we'll tell you what delta is offering the customers. on the campaign trail, hillary clinton says bring it on. in the meantime trump laying out the pillars of the economic plan including tax cuts and talk on trade. we're going to talk all about. it's tuesday, august 9, 2016. "squawk box" is on right now.
♪ ♪ good tuesday morning and welcome to "squawk box" here on cnbc. i'm kayla touchy with andrew sorkin. becky joins us with an interview. one we've been waiting all week. what should we expect. >> you know, we've been watching this very closely. as you mentioned this is something that reports have been kind of out circulating about this, but yesterday yesterday it was made official. walmart is buying jet.com. you mentioned the cost is one of the highe esest ever for an e-commerce deal. by the way, doesn't have my plan to make money in the near future, but walmart it may