Skip to main content

tv   Worldwide Exchange  CNBC  August 23, 2017 5:00am-5:53am EDT

5:00 am
i passed, especially if the democrats hold to the promise of not supporting anything that includes funding for the border wall if it doesn't include that, the president might not sign it. >> right interesting, right it's a high stakes game of pocker what poker president trump said many times the market is a report card for the administration as the market goes higher, that's a good thing. if the market were to go down based on the comments you made, one has to wonder who he will blame. he will not take blame for it. that makes for an interesting set of circumstances point being if the market does retreat a bit, he starts blaming others, will that then build upon itself? my concerns are vast and are great, but none of them have come to fruition in the last seven years. so point being, you know, the market has looked bad news in the eyes for effectively eight
5:01 am
years. it's warded them off and rebounded in a meaningful way each and every time. my sense is you'll have more of the same now >> guy, just a quick question on the markets more broadly yesterday markets higher and the dollar higher. that correlation has not been in play for much of the summer. is it encouraging to see the markets rally in the face of a strong dollar? >> wolf, as you know, one day does not a streak make, but i think you're on to something let's see how it plays out the dollar was on a bit of a -- it's been on a bit of a roerl coa roller coaster i don't think correlation can continue, but to your point it was a healthy sign we can say we want yields, but lower yields are positive for the equity market. they're positive until they're not. i think we're in that sweet spot, and i hate yeezi inusing
5:02 am
well but i think you have to watch the dollar closely everything concerns me especially waking up at this ungodly hour, but one of the other things that concerns me is currency volatility is surpassing equity volatility that's something that historically we don't see. >> guy, thank you very much for getting up >> thank you both. i dig you both i'll see you later >> four major mutual funds have reportedly marked down their uber investments the "wall street journal" says van guard principle funds and hartford funds slashed the price of uber shares by 15%. t. row price brought down it's estimate by 12%. there has been a set back for uber for the past few months, including a federal probe and claims of sexism at the company. that ultimately led to the ouster of travis kalanick. uber's biggest investor is
5:03 am
doubling down on meg whitman to be the next ceo. landon dowdy has more on the ongoing uber debate. >> uber's biggest investor has not given up on meg whitman to take the helm of the ride hailing company. two sources familiar with the search says benchmark has had recent conversations with whitman and she's the preferred candidate. benchmark is denying rumors that it will reintroduce her name for consideration. last month whitman took herself out of the running she said we have a lot of work to do still at hp. the next uber ceo will not be meg whitman. travis kalanick stepped down in june back over to you
5:04 am
the "new york times" has a big takeout today on apple's bet on self-driving cars the times says the tech giant is scaling back its ambitions to build a fully apple-branded car. instead it is working on the underlying technology in autonomous vehicles. this "new york times" report was based on five people familiar with apple's car project code named tighten. the paper also revealed apple is testing the self-driving vehicles on its palo alto campus a lot of fun >> exactly turning to the wall street agenda one piece of economic data july new home sales are out at 10:00 a.m. eastern they're forecast to rise more than 1%. dallas fed president rob kaplan is speaking this afternoon lowe's reports before the open along with american eagle outfighters, after the close we will hear from hp and pbh. shares of wpp are in the red
5:05 am
after lowering its growth forecast the company's ceo is blaming the u.s. we'll bring you his comments. and later, lottery fever is sweeping the nation as the powerball jackpot hits 7$700 million. i need to get some cash and buy a ticket we're counting you down to the big drawing when "worldwide exchange" comes rit ghback we're all working forward to something. synchrony financial can help your customers make it happen sooner. so she can plug into her dreams... and they'll have a new addition for their new addition. whatever you're working forward to, even if it's chasing squirrels, synchrony financial can help you get there. even if it's chasing squirrels, you myour joints...thing for your heart... or your digestion...
5:06 am
so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember.
5:07 am
yogig-speed internet.me? you know what's not awesome? when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids. and these guys. him. ah. oh hello- that lady. these houses! yes, yes and yes. and don't forget about them. uh huh. sure. still yes! you can get it too. welcome to the party. introducing gig-speed internet from xfinity. finally, gig for your neighborhood too.
5:08 am
welcome book ack to "worldw exchange." hong kong is closed due to typhoon hato being in the region nikkei up a quarter percent. shanghai up 0.8 %. essentially flat in europe after a strong day yesterday not quite as strong as the u.s., but saw over a percent of gains for germany and three quart e of a p quarters of a percent for cac what does this mean for the u.s. after what was a great session yesterday? nasdaq up about 1.3% the s&p and the dow up very close to 1% for the dow.
5:09 am
just shy of a 200 point move 196-point gain yesterday for the dow. similar to what we saw in asia and europe a bit of profit taking after a great session yesterday. stocks we're watching today, salesforce.com reporting second quarter profit and revenue that beat forecasts the company hike td its full-yes sales guidance but it maintaining its growth in cash flow and operating margins still on "mad money" last night marc benioff was bullish on the prospects in the cloud >> we just pounded oracle in the quarter. you can see it in the market share numbers. you can see it in that chart that you've gone to many times that sales force is considerably larger than oracle, and the spread continues to go and you can see it in the top line growth numbers.
5:10 am
look at that growth. we are forecasting now 24% growth for the year. we raised our revenue guidance by $100 million for the second quarter in a row that's incredible. and i've got dreams of 25% >> those are high expect takeats go daddy saying blake irvin will retire at end of the year he oversaw the ipo in 2015 erving will be replaced by coo blake wagner blue apron has imposed a partial hiring freeze for its salaried employees the meal kit delivery company is still hiring for corporate roles and hourly jobs at its fulfillment center but blue apron is cutting several members of the recruiting team. >> that stock off 0.75%. shares of wpp trading at a 14 month low in london today the advertising company reported a slowdown in revenue growth in the first half of the year wpp is cutting its full-year sales outlook. earlier today on cnbc, sir martin sorrell pointed to
5:11 am
weakness in the world's biggest ad market. >> it's ban toueen a tough firsf quarter two was weaker than quarter one. the weakest for us was the u.s., which was pretty much the case across the industry. that's where the pressure has been amongst the heaviest. zto express with second quarter results that fell shy of expectations they also issued third quarter guidance below expectations. zto is down 5% this morning. la-z-boy's first quarter results missing targets, they were hit by higher costs from the upholstery business. lower volume throughout plants made it harder to absorb those costs. down 14% still ahead, dialed in on samsung. a critical moment for the
5:12 am
company today. it's unveiling its newest smartphone can it bounce back from some big debacles is that an understatement. >> yeah. it's already doing all right this is an important phone ahead of the next iphone we'll discuss that. also in the tech world, lg just made a big bet onamerica. here's the national forecast from bill karins from good morning to you we are watching closely what's going to happen in the gulf of mexico we think that we will have tropical storm harvey by the end of today it's now over the water. still just a tropical wave but excellent chance, all of the computer models think this is heading up towards the texas ko coast. we're not exactly positive who will get the worst of it yet the big question mark is how long will it stall out over the weekend. indications are it will drift near the texas coastal areas one computer model is showing seven inches of rain from
5:13 am
victoria texas back to mississippi. that would cause major flooding and it would be an issue through the weekend regardless of how strong the storm gets. otherwise today, beautiful weather returns great lakes, northeast and ohio valley after at yderstorms yesterday. th'sour business travel forecast more "worldwide exchange" when we come back
5:14 am
5:15 am
welcome back to "worldwide exchange," i'm wilfred frost lg electronics is expanding into the u.s. the company will spend $25
5:16 am
million to build a factory in michigan to make parts for electric cars. they will initially make battery packs. they started supplying parts for the chevy volt last year the new plant will create about 300 jobs. samsung will try to get a leg up on apple today. the company will unveil its galaxy note 8 at an unpacked event in new york city joining us with a preview of what to expect is todd hazelton technology product editor for cnbc.com how much is riding on this note 8? >> a lot last year the galaxy note 7 caught fire, it was recalled twice. now they've brought it back. if you were at the airport last year, it said don't bring your galaxy note on this plane. >> was kind of embarrassing if you had one to have a phone that could explode. >> samsung did do a good job
5:17 am
earlier this year with the gala galaxy s8 and s8 plus. those were not catching fire those were safe. samsung will have to say we tested like crazy. had third party tests. we suppliers for batteries, this phone is safe. only time will tell that >> with the s8, clearly the brand showed resilience. sales of that have not been bad. tell us about the features on the phone and whether this is an attempt to front-run the new iphone >> it is i think we'll see a better camera on the back, something like we sawed with the iphone 7 plus, with two different sensors. we'll see the latest processioner fr processor we'll see the s-pen come back, and the larger screen which
5:18 am
people love, that goes over the edges like we saw with the galaxy a plus. they have to get ahead of the iphone there were rumors that this would launch september 15th, i think they need to do it quicker than that. >> what is samsung's ability to get parts and deliver relative to demand versus apple >> samsung has done a great job getting the latest parts, one of the concerns with the iphone 8 is that apple's not going to have gigabit technology in the phone. we may not see the feature in these phones which would give
5:19 am
the galaxy note a leg up >> samsung has retaken the united states over apple who owns what phone. you said a lot of those are the lower-priced budget models if they're hoping for the high-end consumer, do they have to really woo those people away from apple >> they do they not only have to woo away from apple, like climbing a mountain, but also convince people who might otherwise buy another android phone or other phones which are now cheaper, that's good if they're staying with the brand but on the other hand you want to sell your flagship phone and make this is a big bang this year some people do wait, when they see what this is, they follow the hype of apple. that's dangerous for samsung break iing new ground is hard these days tom, thank you very much >> thank you. samsung stock has been very
5:20 am
good because of the memory part of the business over the last or so over the last months down 7%. up next a round up of the top stories and more on president trump's big threat of a government shutdown. and later, how walmart plans to take on amazon with the help of google. you're watching "worldwide exchange" on cnbc. i love you, couch. you give us comfort. and we give you bare feet, backsweat, and gordo's... everything. i love you, but sometimes you stink.
5:21 am
soft surfaces trap odors. febreze fabric refresher cleans them away for good. because the things you love the most can stink. and plug in febreze to keep your whole room fresh for up to 45 days. breathe happy with febreze.
5:22 am
the shutdown threat. president trump warns congress fund the border wall or pay a
5:23 am
steep price. from washington to wall street we'll tell you how the global markets are reacting to the president's latest comments. and a record setting jackpot. big bucks up for grabs in the powerball lottery. we'll tell you how much. it's wednesday, august 23, 2017. you're watching "worldwide exchange" on cnbc. ♪ good morning warm welcome to "worldwide exchange" on cnbc. i'm wilfred frost. >> i'm contessa brewer in for sara eisen the jackpot is enough money not to convince me to quit working, but to make me probably a pain to work with >> i think everyone would be a pain if you knew when they won it and it wasn't you you wouldn't quit working if you got 7$700 million >> it would be fun to go in, yeah what are you going to do, fire me? go ahead >> either way, i think -- enough talk about it that i'm tempted to buy a ticket today. i'll probably do that. >> big spender
5:24 am
>> probably lots of tickets. how else can you make money? by investing let's look at futures. they're lower. the nasdaq up 1.3% the s&p and dow up just shy of 1% tech the best sector followed by materials, and 1 out of 11 s&p sectors lower, that was real estate taking profit after yesterday's gains. the dow down by 17 points. ten-year treasury note yields have ticked up above 2.2% in and around that level 2.22 this morning. president trump is putting the government's money where his mouth is in a big campaign-style rally in arizona, trump says he is willing to shut down the government to get the funding needed for his proposed border wall >> build that wall now, the obstructionist democrats would not like us do it but if we have to close down our government we're building that
5:25 am
wall >> if congress doesn't reach a funding deal that the president signs into law by september 30th, the government will shut down congressional democrats have said they won't support a deal that includes money for the wall the peso took a dive as you can see. down now -- it's bouncing back a bit. after trump's comments it retreated some what. this morning up against the dollar slightly. >> the dollar higher there against the peso by 0.7. so theer by.7% the other thing trump had to say about this is that he thinks that they might terminate the deal with nafta, and that could ab big probl be a big problem we'll see how companies relying on that free trade react to that news looking at the nikkei breaking a five-day losing streak looks like it's up now a quarter of a percentage point.
5:26 am
the shanghai down slightly hong kong closed today as a howerful typhoon bore down on the city it was a big category 10 storm uprooting trees, flooding streets. 400 flights canceled here. it is the strongest typhoon to hit hong kong in five years. taking a look at europe. mixed trading. the dax basically flat but in negative territory, just slightly same thing with the cac up just in the green everyone looking towards jackson hole and what the central bankers are going to have to say about quantitative easing. >> absolutely right. albeit mario draghi dialing back expectations of what he would say this week. he was speaking this morning and didn't say much about that but the euro is higher more because of pmi data out of europe which came in better than expected particularly germany with softer than expected business sentiment data yesterday
5:27 am
the euro up 0.2% not so much because of mario draghi comments. he speaks again on sprayed in jackson hole elsewhere, the dollar moving a bit lower against the yen. and pretty much flat against the pound. the pound though, against the euro, it is hitting an eight-year low even though the euro's pulled back a bit in the last couple weeks against the dollar, it has not done that against the pound. gold prices are not doing much basically flat at $1291. finishing on oil prices which were higher yesterday but only by 0. -- down 0.5% today up 0.5% yesterday. let's talk more about oil and the energy market. john kilduff cnbc contributor joins us first question i got, john, why have we seen metals race ahead over the summer? iron ore up w40% but oil not
5:28 am
doing the same >> it's all about china. they like to build stuff, put people to work that's what they're embarking on now once again this is their third reiteration of building the economy up by spending that means a lot of iron ore use, nickel use. part of it is an inflation trade for gold and silver. china cannot do for oil what it is doing for the base metals because they overbuilt their refining ka passi itit itit itc much >> let's talk about oil itself and the fact that though there's an intent to maintain production or slow production, you have non-opec countries that don't participate. where are we going with oil? is there a chance for it to
5:29 am
maintain its growth above $50 a barrel. >> now the opec and non-opec folks have their hands full. this was their season to shine, with the peak summer driving demand, global summer demand strong, europe, asia, latin america, south america this is it the time has passed now. you will see refinery run rates in the u.s. which were at record highs the past several weeks come down because they retooled. they go into maintenance and rejigger their production slates so you will see lessened demand over the next few weeks, and that will put a press sure ure n prices the kuwaiti oil minister yesterday said about the upcoming november meeting that they will talk about extending the deal or potentially ending it >> would we have seen a softer oil price this summer if we
5:30 am
didn't have this soft dollar. >> potentially the fall in the dollar, the correlation there has weakened a bit. used to be a solid 90%, 100% inverse relationship it's broken down a bit, but the recent dollar weakness has supported oil prices, but not the way it's supported gold at 1300 theres an ounce. a double dose of uber news four major mutual fund companies reportedly have marked down their investment in uber the "wall street journal" says van guard principle funds and hartford funds slashed the price of uber shares by 15%. t. rowr price brought down it's estimate by 12%. the company's biggest investor won't give up on meg whitman benchmark capital still pushing for the hp ceo to take on uber's open ceo role.
5:31 am
whitman publicly denies she wants the job, but sources tell cnbc that whitman is still a potential capital. benchmark has denied pursuing whitman for the role sort of that thing i won't run, i won't serve if elected >> then you get into it. you wonder if that story earlier in the week suggesting we had a clear front-runner, and then others come back into it. toshiba is prioritizing talks with western digital about the sale of its chip business, toshiba up 4.3%. >> cree stock falling after issuing weak guidance despite topping revenue estimates in the last quarter down 8 % blue apron imposed a hiring freeze for salaried employees. they are still hiring for certain corporate roles and hourly jobs at its fulfill m
5:32 am
center but also cutting several members of the recruiting team >> bhp billiton is shaking up its board. controversial director grant king will step down just six months after joining as you can see, stocks are up this morning 0.18%. godadedy says blake irving will retire at end of the year. he oversaw the ipo in 2015 erving will be replaced by coo blake wagner shares of intuit announcing that its cfo is also stepping down and will be replaced bay senior finance executive seeing intuit off by 0.1%. time for our top trending stories. taylor swift is at it again with another social media post.
5:33 am
it looks like a snake slithering against a black background it's already been viewed more than 4 million times on instagram. this comes a day after she posted a similar ten-second clip breaking a complete social media plaqueo blackout some fans speculate she is on the verge of dropping a new album. >> i heard a new theory about this that if you watch the video with sunglasses, there's some secret meaning revealed >> really? >> i don't know if the eclipse glasses work i have lots of those around. i don't know what to do with them now maybe shy try them out on this video. landon dowdy had that tipped to her. i have not tried that yet. my big assignment for the day after doing this with wilfred, is to cover the powerball jackpot mania. there's a mania because it's a 7$700 million jackpot estimated
5:34 am
for the drawing tonight. the one-time cash option would be 4$443 million you know, why not hold out for the 700 million paid overtime. the jackpot would make this powerful jackpot the second largest lottery prize handed out in america the mega one was 1.6 billion it was shared by three wayners in january of 2016 clearly there is a psychological principle at work that people like us, i'm assuming you don't normally buy lottery tickets >> correct >> there's something about a jackpot i want to get in on the action i want to be in on the fun of it. >> of course, you're attracted to the headline and the size of the amount >> good for state governments. >> in the uk, i'm sure a lottery is ftax free if you win it walmart is team up with google to take on amazon
5:35 am
the retailer is getting into the royce shopping market with the help of google's technology. google will have thousands of items on its voice controlled platform we'll see how that will compare with alexa >> and whether they learned their lesson by having toddlers order doll houses. >> the hashtag turns ten years ago. it is used 125 million times on twitter every singing day. some of the most important were black lives matter, emma watson's he for she and the dress. remember the tress >>thedress. >> i don't. >> remember, if it was blue or gold -- >> i do.
5:36 am
>> it was #thedress. >> i think it transformed the idea of twitter when it first arrived. made a clear reason for why people should get on it. cue organize thoughts and group them together. >> and if you want to be sarcastic, you can say hashtag anything >> happy birthday hashtag. coming up, today's must reads, why one columnist thinks steve bannon and nigel farage are far from finished. >> let's look at where europe is trading at this hour a little bit soft following a strong day yesterday back here on "worldwide exchange" in a couple of minutes. a blockchain, helping keep shoppers safe. this is a financial transaction secure from hacks and threats others can't see. this is a skyscraper whose elevators use iot data and ai to help thousands get to work safely and efficiently. this is not the cloud you know.
5:37 am
this is the ibm cloud. the ibm cloud is the cloud for enterprise. yours. the ibm cloud is the we're drowning in information. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. morgan stanley. theseare heading back home.y oil thanks to dawn, rescue workers only trust dawn, because it's tough on grease yet gentle. i am home, i am home, i am home
5:38 am
5:39 am
welcome back to "worldwide exchange." time for our must-reads. my pick from the uk times. "bannon and farage are far from finished." last week mr. bannon was sent into exile but i suspect that it's exile to elbow rather than st. helena, the napoleon of breitbart has not forgot his final battle, this is not relevant just in the united states but in the uk, too. there are big battles yet to come they will both be around to fight them comparing the slipping of the trump agenda and the way that no doubt from the breitbart power pit that mr. bannon will
5:40 am
continue to fight for those things to the possible slippage of the brexit agenda and the way name aae aal nigel farage will e for that the way the two of them are similar in that regard, fighting for their slipping agendas >> interesting to see whether breitbart turns on trump he received some credit for trump's big win, inspiringthe passion around him we're approaching the top of the hour that means the team is getting ready for "squawk box. the king of squawk joe kernen is in new york. >> wilfred, have you met contessa do you know each other now do you know who you -- >> have you met your co-anchors? >> do you know who you're dealing with do yyou know the legend. >> don't start telling stories about me, joe. what happens in new york stays in new york. >> have you ever met anyone --
5:41 am
>> i never met the barefoot contessa i never met anyone named contes contessa have i met anybody named wilfred? >> probably not. >> not a human sounds like a cartoon. you are -- you're in sort of regal company there. it's cool. can you tell. >> i can as i have in the past couple of times i've been lucky enough to do "worldwide exchange" with contessa >> oh. i must have missed them. i was on vacation probably >> you probably were >> you know who is on today? grover super grover another cartoon. muppet in this case. grover norquist will be on as we hear that maybe some of the planets are aligning in terms of mnuchin and gary cohn and the president and congress that is always interesting to hear what's happening there. i understand a contrite president trump addressed a
5:42 am
crowd in -- no, i heard -- he was full on president trump. we'll talk about that. the markets, once again, yesterday one of the best days we've had in the year. so the demise of the latest poll greatly exaggerated once again i think futures are weak this morning. we've got lows, we have holman jenkins, one of my favorites i take notes when holman is here andrew will not like this discussion today it's good. it helps all of us understand both sides of a lot of these issues >> it's a good column this morning. look forward to that and much more coming up in ten minutes time on "squawk box. >> "squawk box." >> see you then, joe coming up, making big bets abroad why one market pro says internatnal oc aiostksre the place to be. he explains when "worldwide exchange" returns. one laugh, and hello sensitive bladder.
5:43 am
ring a bell? then you have to try always discreet. i didn't think protection this thin could work. but the super absorbent core turns liquid to gel.
5:44 am
for incredible protection... snap! so it's out of sight... ...and out of mind. always discreet. for bladder leaks. i've discovered incredible bladder leak underwear that hugs every curve. can't tell i'm wearing it, can you? always discreet underwear. for bladder leaks. chances are, the last time yoyou got robbed.an, i know-- i got a loan 20 years ago, and i got robbed. that's why i started lendingtree-- the only place you can compare up to 5 real offers side by side, for free. it's like shopping for hotels online, but our average customer can save twenty thousand dollars. at lendingtree, you know you're getting the best deal. so take the power back and come to lendingtree.com, because at lendingtree when banks compete, you win. welcome back to "worldwide
5:45 am
exchange." u.s. futures pointing a bit lower. about 18 points, not much when you consider yesterday's gains, nearly a percent for the nasdaq, and nearly a percent for the nasdaq and s&p yesterday was a resounding rebound. i suppose the question is can it continue today >> so, i think for u.s. stocks, the key issue here is further potential monetary policy withdrawal i would be keeping an eye on jackson hole later this week and what that might mean for the fed's meeting in september not to say it's a hostile environment for u.s. stocks, but certainly less friendly given that monetary policy withdrawal. >> we also have that jackson hole against the backdrop of what's happening politically, and trump doubling down again on his border wall promise, threatening government shutdown if he doesn't get his way on the
5:46 am
wall threatening nafta, saying he doesn't think a deal can be done how much of that does the market take into consideration? >> i think that that's just another kind of key risk you want to add to the list of concerns around u.s. equity performance, vis-a-vis international stocks the fiscal policy agenda is flat on its back in washington. we're not seeing signs of getting out of this rut we're stuck in >> the flip side of the speech was the story that we're getting closer to a deal of some form on tax reform do you buy into that as the reason for yesterday's rally do you find it encouraging yourself >> we have a realtime financial market indicator to watch for the outlook for potential corporate tax cuts that we see that's the performance of small caps relative to large
5:47 am
given the significant under-performance of small caps so far this year, i don't think there's too much optimism on that front either. >> and at this point do you see room for growth? i knows there been talk about value, where people can find great return on their investment when it comes to growth. does it exist? >> sure. that's a great question. i think because many investors here at home still have to have domestic exposure, we prefer to express that more defensively through the growth style of investing as opposed to value. we're still in a 2% economy, not the 3%, 4%, 5% economy that trump promised us. right here growth is the way to play it. >> let's touch on international outlook. you're positive on european equities and emerging market. >> that's right. >> which is your preference and what is the reason for your positioning there? >> sure. i think it's really the mirror image of what we're seeing in the u.s. valuations are stretched here. that forces us to look for
5:48 am
further opportunities abroad right now relative to u.s. stocks, emerging markets in europe are attractive on that score. they're also in relatively better earlier stages of their economic recoveries. so that bodes well for the outlook for stocks >> we've seen the euro rally significantly over the last couple of months is that a concern for your buy case on equities. >> i think it is at the margin a headwind for european earnings you have to remember that revenues by far, the bulk of which for european companies come from home they trade with each other 67% of revenues come from the eurozone so i think what matters more than the currency dynamic is the domestic economic recovery we're seeing good things there >> any sectors that you think are particularly risky now or tricky to deal with? >> in the u.s. there are some remaining or lingering questions around financials.
5:49 am
given the flatness of the yield curve and the lack of any policy support, specifically opt deregulation side. so i could keep an eye for the signs of risk to financials. >> talley, thank you very much for joining us as we leave you, we are pointing to a slightly lower open on wall street only about a tenth of a percent or so after big gains yesterday. europe lower decent pmi data this morning that's it for orwi"wldde exchange." "squawk box" coming up next. is this a phone?
5:50 am
or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost, so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money.
5:51 am
call, visit, or go to xfinitymobile.com. good morning president trump speaking in phoenix. he threatened to shut down the government over the wall and threw cold water on nafta
5:52 am
negotiations google is teaming up with walmart to take on amazon's alexa. we'll tell you how and major mutual funds marking down the value of their uber investments i think 15%. is that enough details straight ahead it's wednesday, august 23, 201 "squawk box" begins right now. ♪ don't bring me down ♪ live from new york where business never sleeps, this is "squawk box. ♪ >> good morning. welcome back to "squawk box" on cnbc we're live at the nasdaq market site in times square i'm andrew ross sorkin along with joe kernen, and michelle caruso-cabrera is hanging out with us today. a look at u.s. equity futures at this hour. not in the most positive way things look like they would open off about 22 points. the nasdaq opening down about 10 points the s&p looking to open down about 4.5 points
5:53 am
let's show you what's happening overnight in asia. hong kong was closed because of a powerful typhoon the tomorrstorm uprooted trees,d 400 flight cancellations european equities at this hour, we'll -- those are some powerful images, let's show you europe red arrows across the board.

36 Views

info Stream Only

Uploaded by TV Archive on