tv Worldwide Exchange CNBC August 25, 2016 5:00am-6:01am EDT
ryan loch >> good morning and welcome to wieng on cnbc. i'm sara eisen along with don chew who is in for wilfred frost today. it's throw back thursday. we're throwing it back to a back to school theme. hard to believe summer is over. >> i feel older and older every day and this music doesn't help at all. >> let's get a check on global markets. we did see losses yesterday. about .50% point decline. looks like they're extending their decline. s&p down 2 .5. nasdaq down about nine. health care a big part of the reason for the weakness after bio tech sold off sharply. more on that in just a moment. as for the ten-year treasury yield, sticking to the ranges ahead of the yellen speech. >> stuck in neutral for sure. basically a 1-2 point range. >> hasn't budged.
even though we had good housing data. new home sales were very strong in some of the earnings reports. had been strong as well, but potentially fed speak is going to move this treasury bond price out of the range or if where he start to see a slow down of quantitative easing from the uk. >> it's not just the bond market. it's markets overall have been in a neutral stance for a while on very low volumes on the equity side of things for sure and all of that in anticipation of what's going to happen tomorrow with janet yellen's big speech. if y the dax in germany off by 1.3% early trading. the cac in france off by about the similar about. 1.25. the ftse down about .75%.
spain in ibex off a percent as well. broader losses across the board. as for the overnight session in asia, let's take a look there because in many ways we're seeing still a little bit of that mixed picture, especially out of places like china. the nikkei in japan down. the shanghai composite. and hang seng and hong kong flat. marginal gains. broader markets are taking a negative tone, especially what's happening in europe right now. let's go outside and show you the price of oil which has been selling off. another surprise build put more pressure on oil. flat this morning, but back below $47. brent below 49. just barely and nat gas under pressure as well. the dollar is stronger.
has been stronger lately. it's weaker against the euro this morning. 112.81. >> and the british pound backing up a bit, but still above 132. as for gold, keep an eye on this. gold got hammered yesterday and so did a lot of gold minors. bouncing back a bit. unchanged this morning. that will be key to watch if janet yellen does imply the economy is strong enough to look at interest rates. >> that's going to be a key battleground with regard to what fed policy. >> desperate for direction i would say. >> many are. >> well, a pair of economic reports top today's agenda. first you have weekly jobless claims. and durable goods. claims expected to hold steady around that 255,000 mark. demand for durable goods are forecast to rise more than 3% in july following a drop of 4% in
june. the caveat there, durable goods always seen as a volatile indicator on a data point basis. as for the earnings picture, met tronic posts results. along with dollar general and dollar tree and tiffany. after we close, we hear from game stop as well. >> some other stocks to watch today, we did get big earnings. hp inc. beating revenue and forecast on a demand for notebook pcs. weaker sales of printers as businesses cut costs. pvh better than expected. the clothing maker whose brands include calvin clien and tommy hill figger. mad money about the quarter last
night. have a listen. >> you have to go with the consumer is. stores are not going away, but the last time i was on here we spoke about the fact there's too many stores in the united states. may si's to their credit stood up and said we need to close 100 stores. only about $1 billion of sales, you know, i think that will put some pressure and clearly create bottom line opportunity. those were not profitable locations. >> revenue rising 4% of relative price in the retail word. there's tilly's. shares rallying as well. and same store sales. the chain says back to school results have been mixed. it is early and well positioned for the season. >> a lot of retail stocks certainly focusing back to school season. more stocks to watch, workday posting a second quarter loss. revenue rose by more than a third beating forecast. the ceo of the business software maker speaking about the quarter
with jim cramer on mad money last night. >> this is our second quarter in a row of being positive operating margin and that really is the leading indicator for us. first quarter we were around 3% operating margin. here we're slightly less than 2% operating margin. we've moved into positive territory and if you look at our free cash flow, we had very healthy free cash flow over the last 12 months. >> certainly a focus for in the investors. guess reporting higher than expected sales. raising the lower end of adjusted full year profit guidance. those shares up 16% in early hours trading. heico tops estimates. shares of the defense in air row
space contractor up more than a third. up 1.25% in early extended hours trading. amazon may be looking to step up grocery game. has amazon fresh, but may be moving into new territory. drive up grocery hub. interesting idea. planning documents and local news out looks point to click and collect. having consumers pick up their own groceries would eliminate the need for amazon to deliver perishable items. this is something that kroeger, for instance, the biggest grocery store outside of walmart have been experiencing with because when it comes to the business of delivering groceries, the executives always said to me when they talk about the threat, it's a lot more difficult delivering packaged goods. >> of course amazon has had the
history of lockers. going to pick up your things. sdwl sort of building on that idea. >> will customers order and pick them sup is the question. >> turning to uber. pull out of the gate. macau pulling. it isn't a large market with only habit 600,000 people. still, it's a blow to the company's efforts to expand in china. of course uber in china is going to be a big deal. large market there. of course shining partnership deals and acquisition. investment firm wul burr ross agreeing to pay. did not properly disclose some of the fees it charged investors. it's the latest in a string of enforcements taken by the fcc against the private sector.
>> the former ceo of comverse pleading guilty. ten years after jacob alexander moved to africa in what the government says was an attempt to flee prosecution. the judge denying him bail. he'll be sent to a maximum security prison until sentencing in december when he does face up to ten years in prison. when we come back t latest on italy's 6.2 earthquake. we'll take you live. stay tuned you're watching cnbc first in business worldwide. get funky with your chicken. on average, one in 6 americans will get a foodborne illness this year. so, learn the right temperature to cook each type of meat.
keep your family safe at foodsafety.gov. gilman: go get it, marcus. go get it. ...coach gilman used his cash rewards credit card from bank of america to earn 1% cash back everywhere, every time. at places like the batting cages. ♪ [ crowd cheers ] 2% back at grocery stores and now at wholesale clubs. and 3% back on gas. which helped him give his players something extra. the cash rewards credit card from bank of america. more cash back for the things you buy most.
>> welcome back to "world wide exchange." if you're just waking up let's get you up to speed. if u.s. equity picture a little to the downside today. we see the dow futures down 32 points off about .20. s&p off about 3 points. similar losses in terms of a percentage base. and the nasdaq off about eight points. all across the board here, marginal weakness, not a lot of activity ahead of that big speech by janet yellen tomorrow. the bio tech side of the business, part of health care overall. take a look at ibb. that ticker there, ibb, showing
real signs of weakness. still, bio tech a large part of the story overall. part of health care. health care the third biggest influence waiting in the overall s&p 500. >> after double whammy. clinton comments on mylan and the obama administration. let switch gears to the attack at american university. two gunmen were killed at the institution in the afghan capital this morning. it all started when a car bomb was detonated and several gunmen forced their way inside. 12 people, including seven students, were reportedly killed. and to indiana where tornados that touched down in the center of the state tore off roofs of apartment buildings ask cut off power there as well. the natural disaster did not cause serious injuries. did do a number of this
particular stur bucks. videos and pictures of the coffee chain flattening are going viral on the internet this morning. you can see the stunning pictures and video from this tornado. taking a big hit there. all the devastation, again, these things, natural disasters are a force of nature. there's no doubt about it. >> when we come back, mr. brexit made mr. trump, who calls himself mr. brexit, a key figure in the uk's vote to leave the eu. the republican nominee in mississippi on the campaign trail. it was 100 years ago today the national park service was created. managing about 59 national parks as well many national monuments. including the statue of liberty. the national park service is waving entrance fees at all parks through the weekend. so go out and see your local
national park. before we head to break, here's national weather forecast from the weather channel general carfagno. >> good thursday morning. we've got a business day ahead. thunderstorms on the move. yesterday's severe outbreak of tornados in indiana, we could see thunderstorms again. there's an isolated risk right up here into ohio and also back across portions of kansas. same front is making a lot of progress. it will bring thunderstorms into the thort east today. look at seattle heading back up 90 degrees. san francisco is yet to hit 70 this entire month of august. that trend continues today as well. in the middle of the country we have temperatures warm again. a lot of heat and humidity. break from summer is over and, certainly, you're feeling it in the northeast. temperatures back in the middle
tech stocks reeling yesterday after hillary clinton tweet. and dom, that's certainly is going to be a focus along with retail earnings including the likes of tiffany. >> absolutely. a lot of those stories a big focus here. turning from markets to the world of sports. hope solo has been suspended for six months. that's until the wake of comments she made at the rio olympics. the goalie called the swedish team cowards after the americans lost to them in the quarter finals. u.s. soccer said the suspension was for conduct counter-to the group's principal. he past conduct was factored into the decision. she was accused of domestic violence in 2014 and was arrested for a dui in 2015. also, ryan lochte has a new kind of competition ahead of him. the 12-time olympic medallist locking down a deal to join
dancing with the as far stars. reached out before the start of the summer games with the deal being finalized this week. the season premier of dancing with the stars is on september 12. we turn now to the devastating story in italy where 247 pooem have now been confirmed dead by authorities this morning. following that 6.2 magnitude earthquake about 100 miles northeast of rome. lucy joins us with more. what can you tell us this morning. >> reporter: good morning. devastation, destruction, and a separate search to try to get to anyone who is still alive and trapped beneath the rubble. this is now day two of search and rescue operations. it has been a dangerous mission for the workers here. we spoke to one firefighter this morning who said one of the difficulties as they dig through the rubble, more structures can collapse.
the ground is unsteady. and the issue of after shocks. more than 460 hitting since term earthquake took place on wednesday. a very power first of all aftershock this morning at about 5:00 a.m. local time felt as far away as in rome. if you look behind me you see the remains of one of the homes here now reduced effectively to a mountain of dust and stone. the only thing left standing is essentially the doorway. that is basically what much of this town looks like. it was an historic center full of ancient stone structures that withstood the test of time for centuries now reduced to piles and piles of rubble. the big priority here for this town right now is the essential figure out who is alive, who is dead. and get to those who may still be missing. one of the reasons the numbers have been going up and down in terms of causalities and wounded. we don't have a clear picture of the wounded because this is the height of tourist season. a lot of folks from out of town moving in and out to the region.
it takes time to contact those families to figure out who might be here. who is still missing. another issue, of course, is faenls from rome, venice, other italian cities are coming here to escape the heat. they were here vacationing with their young children before the start of school in september and that is why the death tolls, the missing tolls are so much higher than they would have been in the middle of the year. that's also why so many of the victims are children. there's going to be a lot of very difficult questions for italian authorities in the aftermath of all of this. this is a noun fault line area we're standing in between. essentially ab area where tech tonic plates meat. where the structures were not reinforced by authorities is going to be a top question of the devastated residents are going to be asking from their officials. for now the search, the focus, the priority trying to get to anyone who might be trapped beneath the rubble. >> thank you for the update. lucy reporting live from italy
this morning. >> now we're going to move on to u.s. shore political side of things. getting heated on the campaign trail. accusations and name calling in full swing. tracey potsz joiie potts joins washington. >> reporter: you're going to hear more of it today. donald trump calling hillary clinton a big g bigot today. trump's argument is that democrats have been taking advantage of minority voters for decades leaving them in communities with high crime, high poverty. poor education and they need to take a look at republicans. >> hillary clinton is a bigot. who sees people of color only as votes, not as human beings worthy of a better future.
>> going after claiming democrats have done little to improve lives of minority. comes in reno argue what she told cnn last night. trump shifting republicans who are disturbing extremists views. >> someone who is very much peddling bigotry and paranoia. >> donors to her family foundation broke no laws or ethical rules. >> there's a lot of smoke and there's no fire. >> reporter: she called trump's shift of immigration desperate. he said he's willing to work with immigrants who came here illegally and want to stay. >> my priorities will never change. jobs, wages, and security for americans. >> reporter: his campaign says expect more details in the next two weeks. and donald trump is going to be
meeting with leaders at trump tower in new york today. >> thank you so much for the latest on the campaign trail between letters of intentclinto >> did you see this, getting a boost from brexit leader. farage who is a chief component of the british exit from the union joined trump on stage in jackson, mississippi farage went after president obama for urging british voters to remain in the eu and because of that wouldn't directly endorse trump in an effort to avoid what he called metaling in u.s. affairs. he did say if he was an american citizen, he wouldn't vote for hillary clinton if you paid him. >> he is saying something. >> a non-endorsement endorsement. he had messages that trump needed like, go after the establishment, defeat washington, they told us that it was going to destroy our economy. it's not. they told us the polls are
moving in the other direction. all of these messages that are resinate wrg the trump campaign. wonder how it resinates with the voters. >> let's stay on the political front. hillary clinton calling into mylan to voluntarily drop the price of the ep p i pen. mylan has been under scrutiny the democratic presidential candidate tweeting that there's no justification for raising the price on the life saving medicine. we'll get more insight into how the ceo of mylan is going to handle the controversy. heather bresch will be joining "squawk box." one you won't want to miss. when we come back, top stories. will tiffanys leave in the torres blue again. we'll tell you what to watch. stay tuned. you're watching cnbc, first in business. worldwide. children: "i," "j," "k"... [telephone rings]
>> good morning and welcome back to cnbc. i'm sara eisen and don chew is in for wilfred frost. >> it's hard to imagine the summer is over at this point. >> it is. and retail in focus, a lot of talk of back to school on wall street. >> a lot of those earnings coming up later on. let's check on the global markets this morning. first off. start here in the u.s. on the future cited of the equation. take a look at the markets right now. seeing a little bit of an improvement just in the last half hour. we saw the dow futures down 30 points maybe at one point. now the s&p is up by about 1 point. the dow jones and nasdaq down slightly. we're going to call these steady markets ahead of the fed tomorrow in jackson hole is going to be a big issue. let's see if the future's
picture is lending anything with the european picture. we saw a lot of weakness actually and improvements there as well. the dax down over a percent at one point in the past half hour t. dax and german only down about half a percent. the cac in france also showing improvement down about a half a percent. the ftse 100 in the uk off a third of 1%. the ftse mib in italy down by about .20%. it is red across the board, but a definite improvement over where it was just about a half an hour or so ago. as for the asian session, we now what happened over there. we did see weakness in the japanese market. the shanghai comp down.50%. lows of the year for japan stock market. as for the broader markets, oil has been under pressure. could be a reason you're seeing gains in the equity driven by
the energy there. wti back above $47 a barrel. it's about .5%. brent 49.29. also up half a percent. we do have economic data to watch today. check out the ten-year treasury note yield. it has barely budged all week. still around 1.55. see if anything can move the bond market ahead of janet yellen tomorrow. as for the u.s. dollar, it is weakening today. stronger yesterday and over the last few sessions. the big question is can yellen move the dollar and will other assets follow suit. if she hints at a rate hike, could send the dollar stronger. could hurt emerging markets. it's all a big ripple effect. euro, 1.12. and the pound, staying above
1.32, but weaker this morning. gold prices under pressure. watch gold. watch the gold minors etf. >> been a strong trade all year and so we'll see if that holds up. gold prices right now. double instead price just year to date alone. that's going to be a big one. >> whether it can stay in the game. >> right. >> now to twitter and facebook question of the day. we want to know what you think she will sound like. will she be hawkish, dovish, that's she's a little cautious still on the economy or neutral. let us know what you think. it really is a question mark. stanley fisher and bill dudly, part of her inner circle, both out in the last few weeks saying the economy is strong. a rate hike is on the table. we heard that message from janet yellen herself.
will she clarify her tone tomorrow? also watching economic data as well. the pair of economic reports on today's agenda are weekly jobless claims. july durable goods orders. both out at 8:30 eastern time. demand for durable goods are forecast to rise more than 3% in jewel following a drop of 4% in june. it's a volatile number. as for the earnings side of the equation. dollar general, dollar tree, and tiffany's, you can sense a consumer theme there. after the close today, we get game stop. also on the consumer theme as well. tiffany's is going to be a an interesting one. weak performance for the stock so far this year. landon dowdy joins us with three things to watch. >> sparkle wihere are the three
watch. first sales, watch the message sales in particular and any indication of spending in the u.s. faces continued pressure abroad, specifically in europe. in the wake of tourists attacks. take a look at the stock. shares down 9.5. underperforming the broader market second commodities. gross margins should benefit. probably to offset weak nts in sales. the third thing you want to watch is outlook affects macro concerns. could prompt management to lower guidance. more effective marketing as tiffany aims to return to positive same store growth. >> joining us on the phone on what to expect, dana telsey.
ceo. that's what they sell to. what are you expecting to hear? what could be the big thing you're looking for out of these results. >> exactly what landon said. people are going to want to hear about saelles. we saw challenging winds and many of those haven't subsided much. whether it's european travel disrupti disruption, the strength of the dollar impacting tourist spend, hong kong construction and difficult compares against the strengthening yen. fourth quarter, all important quarter, and comparing gets much easier. in addition cfo, they are searching for a new cfo. in mid may the departure of the former cfo was announced. you want to hear if there's a replacement there. they have a procurement strategy
they put in place to help improve cost, quality and certifies. one of the things we've been seeing from companies that have been under performers whether it's a ralph lauren, whether it's guess yesterday. is the fact that they've been able to manage the business and come in a little better than expected, particularly on the x expense line. >> they get hit hard on foreign sales when they have to bring it home to dollars, but here in the u.s. on tourist sales as well. the dollar has been weakening over the last few months. shonts that improve the outlook from the company. >> that's why comparisons are definitely easier. america, tourism accounts for 25% of the america sales. when you think of that new york flag ship. it's just a little bit over 40% of the new york flagship store sales. definitely you need to see pick ups there.
like may si called out international credit card sales down 20% in the fourth quarter, down 12% in the second quarter. you would say a little less worse. >> i've got a question of the end of the income spectrum. is it a better opportunity for investors in a place like tiffany or a place like other side. >> a ton coming into the forefront there. what you want to watch for signet is any progress. what could change given the advisement by goldman sachs their using potential sales. >> thank you so much for that prove. big story to watch. another stock to watch today will be hp. hp aims third quarter profit and revenue beating forecast on a
rebound in demand for notebook pcs. the stock selling off early here. the company's outlook came in below estimates. due to weaker sales of printers as businesses kcut costs. pay attention to mylan this morning. hillary clinton calling on the pharmaceutical company to voluntarily drop the price of the epipen drug. the firm has been under scrutiny by headaching the price of the allergy treatment. we're going to get a lot more insight how the ceo will handle the controversy because heather bresch will be joining cnbc. one you don't want to miss. >> it's wrong when drug companies put profits ahead of patients. that's all the market needed to hear. >>. time for top trending stories of the morning. dom, you hinted at this.
dominos launching a drone pizza delivery service. set to roll out later this year in new zealand. the company is looking to expand drone deliveries to france, nether la netherland japan, and germany. >> it's not dropping down and dropping the pizza. it's hovering and putting it on a cord. the drone does not fly to ground level and drop it. it's like a parachute. >> how does it stay hot in the sky. >> the ambient air is certainly much cooler than the pizza itself. we'll move on to self driving taxis hitting the road in singapore. world's first driving trial of self driving taxis. only available in a small business district in singapore.
all rides are free. how is that for a business model? a program note, ceo of nutonomy will be on "squawk box." self driving cars in a densely populated area. >> there will be a driver apparently just to say cautious. >> some person will watch what's happening. >> a new study showing that youtube is the brand most loved by kids topping the likes of oreo and disney. that study conducted by research firm smatty pants. youtube beat out toys r us. youtube has the type of content they really crave. that says it all about the younger generation. >> there you go. anyway. today's must read stories. first as we head to break, check out the european trading action at this hour. certainly has improved over the
last half hour or so. we're still looking at declines across the board with the german dax down .80%. stay tuned. you're watching cnbc, first in business worldwide. with it, i earn unlimited 2% cash back on all of my purchasing. and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... which adds fuel to my bottom line. what's in your wallet?
citizens are rightly concerned about the concentration of economic power at the central bank long after the financial crisis, the fed holds trillions of dollars of assets that would otherwise be in private hands and appears to make monetary policy with the purpose of managing asset prices including bolstering the price of companies. it's models are unreliable it says. the policies are erratic and guidance confusing. also politically volatile. a big voice, was at one point a goempb at the board of directors at the federal reserve. youngest guy ever to be in that role. >> he's been on cnbc many times. >> always interesting and notable when you have a krcritie from a former insider. my pick is usa today. take a hard look at the message.
it's something you wouldn't expect. republican state representative from colorado writing here are more hispanics living in poverty after eight failed years of obama. i know pmr. trump wants somethig different than that for all americans. can't change a failed record or inability toll be trusted. it's time to get over the delivery and take a hard look at the message, and, i believe, the american voters are doing just that. this counters the narrative in the media that he's not appealing to hispanic and to african-american voters even though he tried to pifrt and do so. you're not seeing a big presence at the rally because i picked it out because it's surprising. >> it seems a message about targeting minority. >> his message of what do you have to lose, whether that's resinating or not. >> we are approaching the top of
the howevur. team is getting ready for "squawk box." joe kernen joins us. you do have a big interview we're looking forward to, joe. mylan. >> oh, that one. i i hate to call that water cooler talk, but certainly -- oh, i didn't know -- i see that. i was unaware we were able to talk about that the until 8:00 a.m., but there it is. she will be on. also daughter of senator mansion which is kind of interesting. i had some thoughts you guys about, you know, this article i saw. i haven't head it yet. it was on the front page of the "new york times." the dire picture that trump has painted of black america leaves many voters angry or dumbfounded. >> i saw that. >> it's a little weird. it seems like there are times we do get a little bit sad about the progress we're making in
certain inner cities. we things happening in chicago, we see violence, schools not delivering for urban kids. as soon as you mention it, it's like why are you saying this. it's a dark view you have. i can't decide. are there things that need to be improved? can you talk about it bluntly and say a lot of policies haven't been working and we want to try something different or it's not necessary? they're angry because it's not dark and not anything that needs any attention. you just can't win. >> it comes back to the question of political correctness. >> i think it might. it's that time of year i start getting butterflies and i feel something bad coming and i realizest going back to school. >> i always liked going back to school. >> i don't want to be sexist,
but i was always, oh, no, that three months went so fast. with the market, i can't tell whether it's the dog days of august where people are saying wow, we trade with algorithms and wait days for the light to go off for something to do. i can't tell whether that's the dog days of august or whether we're anesthetized by central banks around the world. are things not happening because normal things aren't moving because of the money sloshing around. i don't know. did you ever go to the dentist where you're anesthetized and you're sitting there like wow, i think that would have hurt, and wow wake up and you're like what did he do? he hacked around my mouth. you don't feel it while you're sitting there. i don't know what happens when this. a lot of people say there's a storm coming because it's so quiet. weal see. usually things change a bit. vvr done that?
>> i would say, yeah. i think the pain for me always came a few hours later. >> it does. the guys in there and it's like -- he's a good dentist. well, that seems like it would have hurt. oh, my god. i think the market is similar. it's anesthetized. i don't know where things would really be if we didn't have things like nirp. do you use the word nirp. >> nirp sounds like nurf. >> we've got the perfect best to talk about monetary novocain. we look forward to "squawk box." so thank you. >> really? >> yes. coming up here, the world's top central bankers like joe was talking about, economists are gathering in the shadows of wyoming. fed chair janet yellen will be in the spotlight when she speaks tomorrow. will she drop any hints.
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the cash rewards credit card from bank of america. more cash back for the things you buy most. welcome back. to "world wide exchange." it's approaching and investors are waiting for clues from central bankers. joins us with what to expect, former adviser toll dallas fed. what do you expect to hear from janet yellen at jackson hole. >> right now she has to be suffering a crisis of sorts. her speech is written. people have to bear in mind there's a close relationship between a director of research and president of research back. that is the relationship john williams had with yellen. you have to think they're
philosophically on the same page. will she move more towards raising the inflation target or back up her two vice chairs. dudly is the vice chair and will fisher. they're saying the market is overly complacent. >> the fed really needs the change the paradigm in way of operating inflation targets. what do you think? you're a former fed insider. >> people forget when kevin left the fed. he left in february of 2011. this is in the transcript. it's a matter of public record. when qe was to be -- remember. five years ago, this jackson hole, bernanke dropped the bomb. promised the market. qe 2. this was very much against dallas fed. this was against the hawks desire, but he put it out there at jackson hole and a lot of people were quite upset with
that. kevin was one of them. those actions at jackson hole laid the groundwork to leave the set. >> there's a lot of anticipation. because the markets have been so quiet. treasury is in a range. dollar is a arrange. little change. what happens if she does go for one method one way or the other to the global -- >> i think that we can have a rocky weekend promotionally. it might be one of these sundays where we're all glued to the tv watching cnbc asia to see how asia is going to open if there's any big surprises. nothing the given clarity, but my money is on -- i think nothing happens this year. i think she's going to stay. it will take one negative payroll print or more bad news on the retail sales front and we know car sales are slowing. it won't take much to lean back
>> good morning. the fed heads are gathering in jackson hole as wall street patiently waits for key policy details. mylan pharmaceutical is under fire for hiking the price of epipen more than 400% since 2007 and tell you what to expect when the ceo joins us later this morning. and self driving taxis are hitting the road in singapore today. they aren't from google or uber. from a company started at mit called nutonomy. talk to that ceo. it's thursday, august 25, 2016. and "squawk box" begins right
now. goo good morning and welcome to "squawk box." u.s. equity futures at this hour have just gone lower after a negative day on wall street yesterday. if they opened right now, the s&p would open down just a point. the nasdaq down five points. overnight in asia, we are seeing global markets take a leg lower following what wall street did yesterday. the nikkei in japan down by a quarter of a percent. shanghai down .50%. hong kong a touch higher. we have movement among the currencies, but equities we are fractionally lower.