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tv   Worldwide Exchange  CNBC  September 5, 2017 5:00am-6:00am EDT

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a developing story nikki haley says north korea is "begging for war" as tensions escalate we're live in the region with the latest. washington watch a battle is brewing in congress as president trump is expected to end a program protecting some immigrants who came to the united states illegally as children plus a $23 billion deal to start your trading week. united technologies buying rockwell collins creating an aerospace giant. it's tuesday, september 5, 2017. "worldwide exchange" begins right now.
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♪ good morning warm welcome to "worldwide exchange." i'm wilfred frost. >> i'm contessa brewer in for sara eisen >> welcome back from texas >> thank you had a great team with me a lot of stories to cover. >> hope you had a relaxing weekend off of what was a busy week let's look in on the global market picture comes off a pretty decent end to august when you consider the amount of negative news markets weren't under pressure as much as perhaps the headlines for the month may have suggested a slightly positive day towards the end of last week markets in the u.s. were closed yesterday for labor day. they're starting just in negative territory we were not negative around the world today, but we were negative a bit yesterday
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the dow down 42 points or so in the premarket. ten-year treasury note for you which has been stuck below the 2.2% level, had a belief flirtation below 2.1%, but at the moment back in the middle ground between the two handles, 2.15%. let's look at asian equities now. acraoss the board a mixed mornin as the nikkei is down slightly hang seng and shanghai come positive in positive territory concerns over north korea and whether there might be another missile test weighing heavily on investors. looking at europe now, across the board we're seeing positive action the dax, the cac, the ftse all in positive territory. >> important to mention that we did see a bit of declines yesterday around the world, but korea and japan which had been the eye of the storm as it were if we did see more missile tests, not down in too
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pronounced fashion when we think of the u.s. open, the u.s. in relation to this particular story shouldn't be down too much itself japan down 0.6%. korea down 0.10%. we continue to watch the energy prices in wake of hurricane harvey yesterday colonial pipeline restarted one of its fuel lines shut down because of the storm another line will restart today. colonial's pipelines connect gulf coast refineries to markets in the northeast prices today have allowed wti to play catch up the last two, three trading sessions lows to 48, 47.76. there is the gasoline pump price, correcting some of that rise we saw last week and the week before. we're watching another
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powerful hurricane on the radar. hurricane irma strengthening to a category 4 storm the storm's path at this point looks uncertain, but irma's turning west in the atlantic ocean and prompting emergency de declarations across floor dand puerto rico this storm could become more powerful over the past two days, as it is forecast to reach the u.s. vir jigin isld and puerto rico. there are emergency declarations in all counties preparing for this storm in puerto rico. could be nasty as for other asset classes, dollar board quickly for you seeing the dollar move higher against the euro and the pound it is down against the yen and down against the aussie dollar in general, not too much happening. back end of last week the dollar paused its recent summer weakness and was breaking a five-month losing streak for august
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let's look at gold prices. just to round things off, which did all right in august. they're up by half a percent this morning copper continues its surge as well it's up more than 20% since the end of may the highest level in nearly three years. those indust rrial metal gains another big story for the summer today's top corporate story, united technologies is buying rockwell collins landon dowdy has the details united technologies agreed to buy rockwell collins for about $23 billion. under the deal rockwell shareholder also receive $140 per share in cash and stock. that's an % premium to the closing price on august 3rd, the day before news broke that united technologies was weighing a bid for rockwell the transaction represents one of the biggest tie-ups in aviation history and creates an
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aircraft parts giant to better withstand negotiating power from boeing and airbus for pricing discounts. the companies say the aerospace system segment will be combined to create a new unit called collins business systems look at the stock. shares of united technologies slightly lower rockwell collins up 1.64%. still some movement in the share prices interesting to see that. it sort of was already priced in 1.6% for rockwell today. you don't want to miss greg hayes on "squawk on the street" late their morni hayes on "squawk on the street" late their morni this morning a. the north korea crisis continuing to escalate the white house saying all options are on the table to address the threat chery kang is live in seoul, south korea with the latest for us
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good morning >> reporter: good morning. so a lot of scrumiblie scramblo of world leaders, including the south korean government. we are focusing on that phone call between the leaders of south korea and the united states overnight one visible agreement out of that phone call that the two countries agreeing to throw out the restrictions on the missile pay load capabilities. the government here is trying to paint a picture of national security strong enough to deter these provocations coming out of north korea. one media report called it -- described it as south korea taking back its missile sovereignty. but in the meantime, this derivative coming out of this latest tension with north korea is happening again between south korea and the u.s.
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staying with that phone call between the two country's leaders, the white house press release talked about how president trump gave conceptual approval for a potential arms deal worth billions of dollars with south korea but the presidential office here in south korea says this morning that there was no such mention of an arms deal, and it understood it to be washington's expression of support for south korea's defense capabilities so i would say this is a very interesting development. certainly something that reminds me of that interview where president trump said that south korea should foot the bill when it comes to this missile shield program called thaad h >> how has the president's comments gone down with south korea over the weekend we know his relationship is testing with china and clearly wanting dhoem mothem to do moreo
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contain the north korea threat there's very little south korea can do it's not like they are a big trading partner and can impose more sanctions on north korea. >> exactly but the south korean president kept talking about the need to engage with north korea through dialogue and diplomacy, when president trump was talking about fire and fury on north korea. so certainly there is a discrepancy in the level of punishment they want to go for for these missile tests and these nuclear tests. i think there was a bit of a squeeze coming from washington for south korean president, and also not exactly a disappointment over that tweet, but concerns that there could be this red sox between these two allies, and that's becoming more visible these days
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choin thina says the global economy has improved but many difficults still remain. he warned that countries could turn inward on trade xi did not mention the united states by name, though president trump has said trade deals are a threat to american jobs and of course pulled the u.s. out of the paris climate accord back here in the u.s., the house of representatives will vote tomorrow on hurricane harvey relief. they want to ensure storm victims get the help they need >> prior to harvey, i think you know i've said we have enough funding to go through the end of september and urged congress to focus on this before that period
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of time. but with harvey, it's moved the situation up earlier and without raising the debt limit, i'm not comfortable that we will get the money that we need this month to texas to rebuild. >> some house conservatives are opposed to linking disaster relief with the debt limit saying it sends the wrong message on overall government spend sfwloog president trump g spending >> president trump is expecks ed to expected to announce it's a verdict on daca. a lot of outspoken supporters have been trying to keep program in place tracie potts joins us from washington with the latest what do you expect to see there >> we will not get this announcement from the white house, it's coming out of the justice department late last night an announcement that attorney general jeff sessions will come out and talk
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about this in just a few hours, about six hours from now, to outline what the government wants to do plus pressure from both sides you talked the business community, and nine states now say they will sue the government if the government does not roll back this obama era order. there were democrat strayings over the weekend from coast to coast, primarily by people who want to see this policy stay in place. it affects 800,000 people, many of them now adults who were brought here when they were under 16 years old under the obama policy they were protected from deportation under the trump policy they may not be now some republicans are split the president himself has sent mixed messages, eventually saying these dreamers, as
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they're known, don't need to worry. but now they may very much need to worry if they'ir deportation protection goes away we'll get that announcement later today from the justice department >> now that we have labor day behind us, what's on the agenda? do we expect congressional business to pick up significantly? and could this hurricane harvey relief bill, could that bring together a sense of unity and action >> it could but then there's talk about tieing it to the budget and the debt limit which has to be raised two big financial issues that congress has to deal with when they come back today if that's the case, we could see things slow down like with super storm sandy. >> i talked to senator ted cruz last week in houston when responding to this he said, look, i don't regret that decision about voting against supplemental sandy aid because of the additions added
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to it. some conservatives oppose adding anything else on to an aid package. any indication they'll get movement or cooperation on a bipartisan bill to help harvey victims? >> they'll get something done. it's not smart to leave billions of dollars up in the air as we see day by day these pictures. so they're likely to get something done fwou t but to try to tie it to the budget that has to move forward or the debt ceiling that could be politically tricky. angry birds maker rovio is planning an ipo. the finnish mobile gamesmaker will list in helsinki. following years of falling earnings and jobs cuts, the company returned to profit in 2016 following the angry birds 3-d movie and game sales
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rovya sae dposh gosh, it's intense that video we're play >> you never played it >> no. >> it's very addictive >> it's not making me want tofrmt. >> itthe publisher of the "chicg tribune" is buying the iconic daily news no cash is changing hands, but tronc agreed to assume all operating cost and debt and will acquire the printing press in new jersey the daily news was once the nation's largest circulating newspaper but has faded as readers shift online hb fuller is buying its smaller rival royal adhesives and sealants from a private equity firm for nearly 1.6 billion. fuller expects the deal boost revenue by about 25% we're seeing that up almost a full percentage point.
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blackstone has cancelled a 3 $3 billion sale of several australian shopping malls after failing to find a buyer. the company put the portfolio of ten malls mostly in sydney and melbourne on the market in april. but blackstone only got offer force individual properties. novartis' ceo will be stepping down next year. he oversaw the exploration of several patents. sm separately novartis says a faphs three trial of a drug for multiple sclerosis has shown improvement. barron's is negative on papa john's the negative paper says the
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pizza delivery chain sells a product that's pretty good, and notes the company plans to buy back 5$500 million in tock, but they caution that the company may continue to underperform in the face of heavy competition. the stock is down half a percent. still to come, talking trade with the chairman of toyota. one of the world's largest automakers weighs in on nafta negotiations highlights from that exclusive interview straight ahead hey, how's it going?
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the chairman of toyota weighing in on how nafta negotiations will impact the auto maker akiko has this exclusive interview. >> reporter: toyota has been careful not to publicly criticize the trump administration's push to renegotiate nafta. but internally no question that there are concerns, especially about the possibility of changes to rules of origin when we spoke to the toyota chairman, we asked him just how disruptive to those changes to requirements would be. terp o . >> translator: or decisions are based on a medium term outlook that has contributed to the growth of all three economies and enhanced competitiveness
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leaders of the respective countries called for adjustments and i agree some changes are needed, but we do think they should keep parts of the existing framework that are working for the economy. >> toyota certainly found itself in the cross hairs of the trump administration and its america first policy they announced that partnership with mazda to build a 1$1.6 billion facility in the u.s. that they said would create about 4,000 new jobs we asked the chairman how much of that decision was driven by the pressure they faced from the trump administration he said simply, look, we don't decide business decisions based on a short-term outlook or the political environment. this was a business decision certainly no question they have their eye on the white house and they are doing most -- trying to make more of an effort to manufacture in the u.s. as well. >> stepping away from the trade debate what else did he have to say about the future of the auto industry and that balance between electric and petrol driven cars? >> yeah. we talked about the increasing
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competition toyota faces from some names they may not have thought about 20 years like tesla, alphabet, some other big tech companies it's important to note he's considered the father of the prius. he was the chief engineer behind the hybrid car toyota has seemed to have lost their innovative edge over the last several years they say they don't see the tech companies as competitors, but as partners as for electric vehicles, he said, yes, five years ago i said i don't think there was a pure market for pure electric vehicles we changed our minds we have seen the industry shifting they are looking to develop it but want do it with solid state batteries, moving away from the lithium ion batteries. he said that research and development is in the works, but it could be several years until they have a pure electric car on the market. >> thank you very much still to come on "worldwide exchange," it's not north korea,
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returns were down about 16%. analysts blame several big flops such as the mummy and transformers and competition from streaming services. elon musk is taking to twitter to give a stark warning against artificial intelligence. the billionaire tweeting competition to ai superiority at national level most likely cause of world war iii very strong statement from him he added that the war "may be initiated not by the country leaders but one of the ais if it decides a preemptive strike is the most probable path to victory. musk's comments come after russian president vladimir putin said the country that leads in ai will be "the ruler of the world. strong comments from both of them clearly we have seen in recent months musk and zuckerberg clash on whether ai will be a good or a bad thing. >> doesn't seem that farfetched, anyone who reads science fiction
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can see how that will happen. a surprising plot for the new james bond movie has leaked. sources say the latest 007 film will show bond married the film reportedly has been dubbed bond 25 and shows bond quitting the secret service. his wife gets killed which brings him back into the action. you said it's not the first time it happened. new to me. >> only happened once in all the movies it was in on her majesty's secret service, it was a big one when it happened this latest batch of craig movies have copied some of the past movies, whether it was casino royale, so yes this is a surprise but it's happened once before, you can see it working to make bond on his way out, craig on his last one, get married, fight back an come in. >> you know a lot about bond >> i do. still to come, the biggest
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with north korea and business backlash. president trump considers cutting support for a program protecting some immigrants and corporate america is not keeping quiet. it's tuesday, september 5, 2017, you're watching "worldwide exchange" on cnbc. good morning a warm welcome to "worldwide exchange" on cnbc. i'm wilfred frost. >> i'm conte petessa brewer in sara eisen a positive outlook on thewe eed before that long labor day holiday weekend. looking at the treasuries, the ten-year t note, here they go. seeing it down slightly to 2.146% let's look at markets around
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the word, particularly the world, particularly in asia given the threats and tensions around north korea not seeing big declines in some of the key related markets like south korea and japan, but they were down yesterday. if you included yesterday's declines, the u.s. wasn't open, 2% over two days of declines for japan. 1.5 for south korea over the course of the last two trading sessions, which points to what we might see as catch up and why u.s. futures are down today despite asia being flat and europe being up today. a bit soft yesterday which is why we're seeing those declines in the u.s. futures markets. germany is up 0.8% we had some data out of europe this morning eurozone retail sales doing better than expected 2.6% versus consensus for 2.3% that's the reading for july. uk services pmi was soft, 53.2 consensus was 53.5 as for the broader markets,
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looking at oil crude is rising as gasoline has slumped here you can see wti is up 1.12% on the day. brent is up as well. seeing prices at the pump uf ri u roughly 20%. the dollar has slipped versus the yen. we're seeing some simmering north korean tensions here may be affecting this. down just a bit. now on gold, we are seeing a positive move here on gold six straight sessions in a row it's ended in positive territory. this morning up almost a half spent t percen percentage point. today we get factory orders, tomorrow, ism services index and the beige book, thursday and
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friday, q2 productivity and kco vum consumer credit data today's top corporate story, united technologies is buying aircraft manufacturer racquel collins for 140 dollars per share in cash and stork. the total equity value is $18 billion. don't miss united technologies ceo greg hayes on "squawk on the street" this morning at 9:30 eastern. you're seeing the united technologies moves >> that's picked up quite a bit in the last half hour or so. still low volumes in the
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premarket. u.s. officials say north korea's leader's kim jong-un seems to be begging for war. >> reporter: the united states facing a bad diplomatic situation here with north korea after that nuclear test. it was the biggest nuclear test to date. the united states responded with diplomatic sabre rattling. here is the secretary of defense over the weekend issuing a warning to north korea >> any threat to the united states or its territories including guam or our allies will be met with a massive military response, a response both effective and overwhelming. >> the president also taking to twitter of the weekend firing off a couple of thoughts about the north korean situation including criticism of south korea saying south korea is finding as i have told them that their talk of appeasement with north korea will not work. they only understand one thing the president not specifying
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what that one thing is then also some indications of a possible trade related response here the president saying the united states is considering in addition to other options stopping all trade with any country doing business with north korea. one of the biggest countries doing business with north korea will be china. it would be difficult for the united states to stop all trade with china, but the president will be meeting today with his national security council at 10:00 this morning to work on solutions to this diplomatic problem. >> focusing on the domestic agenda, what's front and center? there's the harvey relief bill, but what could be included with that and could it bring together a sense of unity >> the harvey relief bill, one possibility is they could include the debt ceiling raise with that that would dove unttal two different things and maybe get enough votes to pass the other thing is dreamers, the
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president considering repealing the daca, the president considering delaying daca for about six months that would present the challenge to supporters and opponents of daca who want a decision on where to go with the immigration issue. we could expect a delay here today. we'll wait for an announcement from the administration later on this morning >> just quickly, because you're the only cnbc report their cares about it, like me, it was a better weekend for the english soccer team than the u.s >> u.s. soccer team had a difficult weekend against costa rica they play again today that should be interesting. they'll play against honduras. another opportunity for the u.s. to dig itself out of the hole it's in. >> we look forward to the wilfred and eamon soccer show on
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cnbc >> we'll wear our scarves. let's get over to the chief economic correspondent at politico and cnbc contributor. let's start with the tackle on the dreamers it seems to me like if they couldn't get it done back under obama when there was a bipartisan effort to pass immigration, what's to snark corporati cooperation now. >> maybe the debt limit, but congress has no track record of being able to do anything on immigration reform now if the administration decides to end this program with a six-month delay, punting it t congress, maybe they can do with with a debt limit increase or a funding bill >> you have states on both sides now threatening to sue the trump administration if he moves forward with that plan i was surprised to hear mixed reaction, some from immigration
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advocates who say, look, ending it for six months and really putting the responsibility on congress to come up with a plan to help these kids stay gainfully employed is a good idea >> sure. there's the argument that this should ab ledbe a legislative solution it's not the province of the administration to handle this issue. so congress should be dealing with it. that's the administration's whole point, to give them a window of six months, take responsibility away from trump he doesn't want to be the one to say these 800,000 kids who came here through no fault of their own, no criminal records, he doesn't want to kick them out. but he has his right wing base who is in favor of getting rid of daca, he's saying congress, you take responsibility for these kids and take it off of me whether congress responds is an open question. >> ben, the rest of the agenda, debt limit and hurricane harvey relief we think will be passed
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simply in terms of tax reform, where are we on that and expectations for it being done at some point in this year >> expectations for finishing it this year are low, partly because they have do this in september. harvey will be relatively easy the debt limit won't be that easy keeping the government open past october 1 st not easy. that takes away some of the window for dealing with tax reform we get those things done by october 1st, they can move through with the proposal, but it will take a while from where they are now to a final deal i would anticipate early next year to finish that. >> just back to the north korea issue. been criticism for the implication in president trump's tweet over the weekend about threatening to do no trade with china if they had to to force them to deal with north korea. is that an absurd position that could be the only thing that forces them to act, north
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korea is -- 86% of their exports go to china. >> would be a major wake up call if the largest trading partner was frozen out and the united states was not dock business with china this is 6$650 billion in new trade this every new iphone you want to get. i think you would see congress make a move f tru, if trump wero try to shut down trade, congress would step in and rescind that move there may be other targeted ways to go after chinese companies that do business with north korea, make it more specific and more targeted, not a broad overall shutdown >> ben white, thank you for joining us. why a miscalculation could lead to a r thwawi north korea "worldwide exchange" is back in a couple minutes for your heart...
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welcome back to "worldwide exchange." i'm contessa brewer. the price of bitcoin is dropping among the main reasons, a new ruling from chinese regulations, china is banning ico oshgos fr raising money using the new cryptocurrencies the news weighed on market sentiment. you can see down 1.78%
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couple analysts calls worth noting walt disney upgraded to outperform from market perform the analyst notes the firm's move into the direct to consumer streaming will have an effect. wf sells fargo is downgrading viacom, the analyst cites the lack of visibility into a potential turnaround time now for our must-reads. my pick is in "the financial times," miscalculation could lead to war in korea writing not just about miscalculation between kim jong-un and president trump and what the chinese may be thinking the chinese government thinks a similar complex set of cal calculati calculations mr. trump has been threatening that the u.s. will take unilateral military action if china fails to force mr. kim into line. china sees to placate mr. trump
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by tougher sanctions on pyongyang, but they might have to consider how mr. kim might react if he is forced into a corner a reasonable point about why china is not trum wants at this stage. >> and my pick is in the "wall street journal" by the editorial board. options for removing kim jong-un. a military strike has to be a last resort because it might lead to a larger war that could kill tens of thousands in south korea and japan including u.s. troops the u.s. has other options that washington can put severe pressure on north korea and the
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regime they go through diplomatic, military, finance, intelligence and legal tools in that toolbox. what is interesting is in many cases, they are still reliant on cooperation from russia and china to enforce or use some of those tools. the international community is clearly the key. >> there is no immediate obvious resolution the kospi in korea down 0.1%, factoring in yesterday's moves, asian markets were open yesterday, all in all about a 2% decline for the nikkei over two days, and about 1.5% for the korean kospi which is one of the reasons why u.s. futures are playing catch up this morning and down about 40 points for the dow. coming up, we'll get you ready for the shortened trading week we have a market expert here to assess the risks
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womelcome back.
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we're approaching the top of the hour the team is getting ready for "squawk box. andrew has what's coming up. we have a big morning ahead. we will talk about the reaction of the markets to north korea what it means and where this is all headed we have a slew of big guests talking about that we'll talk about this dreamers act and what that will mean. big business coming out against that we will talk all sides of it we will talk about the news, tronc and the new york daily news i have my daily news here this morning. big story in the newspaper world. those newspapers getting together we have a big day ahead. and the rockwell deal. all of that and more >> we look forward to it it. stocks to watch today, hp fuller is buying its smaller
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rival royal adhesives and sealants from a private equity firm for nearly 1.6 billion dollars. fuller expects to boost revenues by 25%. blackstone reportedly cancelled a nearly $3 billion sale of several australian shopping malls after failing to find a buyer the ten malls were on the market in april, but reuters says blackstone only got offers for individual properties. novartis's ceo will step down early next year leb repla he will be replaced by the head of drug development. and a phase three trial shows its drug for ms significantly reduces relapses in children and teens. novartis up half a percentage point. >> the world trade organization reversed an earlier ruling that boeing received a tax credit for
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its newest aircraft. the decision overturns a ruling which banned partial support from washington state for plants to build the wings for the 777x plane. barron's negative on papa john's the paper says the pizza delivery chain sells a product that's good. i concur and notes the company plans to buy back 500 million in stock. barron's cautions that papa john's may continue to underperform because it's getting all of this competition, and that is increasing angry birdsmaker rovio entertainment is planning an ipo. the studio will list shares in helsinki in a move aimed at boosting growth. following years of falling earnings, job cuts and restructuring, the company returned to profit in 2016 following the angry birds pvd movie. rovio says the share issue will be $35 million.
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let's move on to markets more generally futures down about 50 points for the dow. joining us is art hogan from wond wond wond wond wonderlich securities. do you think the market reaction is due do north korea? >> yeah. we were closed and global markets were off in asia and europe there is a catch up. i think there's reaction to north korea, it's difficult to gauge. this is probably our third volley in as many weeks with north korea and so the markets are trying to pinpoint what the economic effect will be, and that's difficult the fact that we have a new round of north korea tensions and trying to ascertain what that means for the markets especially in september when we have other domestic issues to
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get behind us like the debt seal ceiling and the budget >> the threat of nuclear capability weighing on the markets, when we look at congress, tax reform, budget, debt ceiling, harvey relief what else is weighing on the minds of investors as they move forward into the week? >> great to have you back on dry land here. i think the combination of having to get the debt ceiling and the budget taken care of before you can move forward on tax reform is front most in investors minds. the one thing the market cares about in terms of washington right now is the ability to get something done on taxes. the fact that you have to work your way through raising the debt ceiling and getting a budget for 2018 accomplished before you can do that is the only thing the markets see the quicker we can get these things accomplished, the better off the market will react. what about the fed in the latest expectations, give than we're not expecting huge movement on
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the political front. is the date coming through on things like inflation a more important thing for the market >> i think the fed has been clear, they'll normalize the balance sheet before raising rates again. we'll hear about that. that's okay. the market has that priced in. right now the market has it priced in at a rate hike in december if they were to get balance normalization and raise rates in december that would mean we have not had bumps in the road in terms of a data stream the market is in a place where they need good news. if the fed starts to normalize the balance sheet and raise rates one more time, that's a positive >> what's your view of the u.s. dollar, it was weak for most of this year. august suggested it was coming to an end of that. in the short-term, do you think the dollar hit its low and is due a bounce what does that mean for the equity market? the correlation with u.s.
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equities and the dollar is not as strong as for the jap nieane counterparts >> mapart of the reason the tla is we dollar is weaker is the flight to the yen i think it's true that the interpretation of what the fed will do in terms of raising rates this year and the way the market has that priced in is off balance a bit. i think we've seen the lower dollar in the sort of short-term to medium term, we will see more of a bounce whachlbounce what does that mean for markets? less okay for emerging markets than the russell 2000. if we get strength in the dollar, the russell 2 could have a pop. >> art, thank you very much for joining us that's it for "worldwide exchange." quick look at futures, they are pointing lower, down about 40
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points or so for the dow they're playing catch up on declines around the rest of the at id yesterday. th'st for "worldwide exchange." "squawk box" comes next. knots e on the caribbean seas ♪ ♪ it's a champagne and models potpourri ♪ ♪ on my yacht made of cuban mahogany, ♪ ♪ gany, gany, gany, gany ♪ watch this don't get mad (bell mnemonic) get e*trade and get invested
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threat rising. north korea tests a nuclear bomb now the country is reportedly moving an icbm towards its west coast. we'll bring you the latest from korea straight ahead. a $23 billion deal happens biggest aerospace deal ever. united technologies is buying rockwell collins, it will create an aerospace giant. amtrak's so-called summer of hell in new york is officially over the company's new co-ceo richard anderson joins us this hour.
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it's tuesday, september 5, 2017. "squawk box" begins right now. ♪ live from new york where business never sleeps, this is "squawk box. good morning welcome 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 melissa lee. becky quick is off today a quick look at u.s. futures at this hour as we try to sort out which way the market will head in large part because of the news about north korea over the weekend. dow jones looks like it would open off 50 points nasdaq jittery as well, off ab

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