it is 5:00 a.m. here at cnbc global headquarters. i'm frank holland and here is your "five@5." breaking records. stocks moving into a new trading week at an all-time high. futures this morning under pressure. breaking this morning. boeing agreeing to a criminal guilty plea and $200 million fine over the handling of the deadly 737 max crashes. bracing for beryl. oil companies and residents getting ready for the full force of the storm. making landfall in texas this

morning. biden back on the campaign trail. the president facing a growing number of democrats calling for him to step aside in the race for president. later, done deal, skidydanc agrees to buy paramount. it's monday, july 7th, 2024. you're watching "worldwide exchange" right here on cnbc. ♪ good monday morning. let's get you ready for the trading day ahead. we kickoff the day with the major averages hitting all-time highs. a little bit of pressure on the futures right for as we see the dow would open up 10 points lower. basically flat. the nasdaq hardest hit. fractionally lower right now. we are also checking the bond market ahead of the busy week for your money including two days of testimony on capitol hill for jay powell.

look at the yields. the benchmark at 4.03. we have seen the benchmark decline right now at 4.30. we want to look at breaking news. boeing agreeing to plead guilty to one count of conspiracy to defraud the government and air safety regulators. both charges are related to the 737 max crashes in 2018 and 2019. as part of that, boeing is agreeing to pay $244 million fine and paying an additional $455 million. they must hire an independent monitor to supervise the changes. a judge must still sign off on the guilty plea. much more on the story throughout the hour. we want to look at another developing story and the gulf of mexico with beryl regaining status as a category 1 storm.

it tracks north near houston and across the texas gulf coast. forecasters are watching the storm's intensity and warning it could reach category 2 wind speeds later today. with the hurricane warnings across texas, key ports are closing in advance of the storm. that includes the port of corpus christi. we are looking at oil this morning. moving lower this morning. wti is down about 1%. brent crude, the international benc benchmark, down .75%. pulling back just a bit today at $82 a barrel. we will keep you updated as the story develops. turning attention now back to the market. the stocks prepare for the second quarter earnings season. it is also a busy week for the economy with fed chair jay powell set to receive before the senate and house on tuesday and wednesday. that is followed by the june cpi on thursday and ppi on friday.

consumer prices are ticking down for the month which could call for a mixed jobs report on friday. joining me now to discuss is lee baker, owner of apex financial. he is also a member of the cnbc financial council. lee, good to have you here. >> good morning, frank. how are you? >> i'm doing well. thanks for asking. we are coming off the mixed jobs report that led to bond yields dl declining. later in the week, we have cpi and jay powell on capitol hill. how do you see the markets moving today with all this different inputs either behind us or coming up ahead of us? >> today, i would expect unless there is something that trickles over from europe here in the u.s., i would expect the data to be fairly benign. likely at the top of the show, there is a little pressure, but i don't expect anything significant today.

of course, we get to later in the week and if there is a surprise one way or the other relating to cpi, that could be a different story. >> jay powell testifies for two days. we heard from him fairly recently. he was over in europe with sarah eisen. i know this is something you were looking at with ism coming in softer than expected and in contraction territory. >> absolutely. i think the ism coming in softer, that means it is moving in the right direction. i think he will continue to allude to the fact that the rate cut is coming. will that come in september? not sure. i think people are saying what the cpi does later this week, there may be something earlier. i really doubt the case there is anything that happens before september. >> we have a lot of fireworks in the election year in the u.s. and then specifically in europe with the french elections.

i spoke about the french elections and if there is a win by the far-left or the far-right that the cac could see a down side of 10%. they believe the stock would fall 7% in the short-term. they see the short-term in three months. we did get a surprise. the far-left seemingly taking the win here. how does that shape your view? >> some of the opportunities i'm seeing there with what has happened in the election and this is something i thought prior to going to bed last night. we don't know what was coming. one of the things i liked over there was bnp paribas. it is a very strong bank. they have a long history of stable returns. a beautiful, juicy yield of 7.5%. i think companies along those lines will continue to do fine. what we take a look at here is there was not a clear-cut victory from any of the groups. so, the nature of the french elections are going to have to

cobble together some sort of coalition, particularly a pm that is more handling things, versus a clear leader over any one party. >> we are showing the chart of bnp paribas. up 2% for the year. do you believe this is a good move or is that immaterial in your mind to the thesis on bnp? >> i won't say it is immaterial. i think to the sector in general, that could play out well. one of the things we look at with bnp, relative to the book value, it's trading at a very significant discount. it doesn't take much of a tai tailwind. >> lee baker, great to see you. thank you very much. for more on the markets and the trading day ahead, head over to

cnbc pro at cnbc.com/pro. we turn to president biden and fighting for his political future. he is trying to reassure his party and donors he is the right candidate to beat donald trump in november. he is meeting with those on capitol hill today to discuss those. brie jackson joins us now. more developments in the story. >> reporter: you are right. during a phone call on sunday, four more colleagues said they believe president biden should step aside. >> my name is joe biden. >> reporter: facing intense pressure to prove himself, president biden campaigned in pennsylvania sunday seeking to fight off criticism about his chances of winning re-election. >> i've been doing this a long

time and i honest to god have never been more optimistic about america's future. >> reporter: members of his own party have their doubts. nearly a dozen house democrats have called on biden to drop out of the presidential race after the poor debate performance. >> what the president needs to decide, can he put those concerns aside and demonstrate what happened on the debate stage was an aberration. >> i know what it is like to have a rough debate. i'm now standing here as your senator. i want to just say i'm so proud to stand with the president. >> reporter: the biden campaign is still working to convince the public that he's capable of leading the country for four more years. >> i think he's done a great job. however, i think now is the time for joe biden to be the statesman and step down.

>> i'm still feeling good about joe biden. >> i find it fascinating that nobody is asking for his opponent, that is almost as old as he is, mentally, fairly confused, not to step down. >> reporter: president biden insists he is staying in the fight. and president biden faces another big test it this week. he will host world leaders for a nato summit in washington, d.c. that begins on tuesday. frank. >> brie, we're hearing a lot from house democrats. two of latest to come out and ask the president to step down. what are house republicans saying about all this? >> reporter: the house oversight chair, james comer, from kentucky. he sent a healetter to biden's doctor about the president's health. a white house spokesperson slammed that letter calling it

crazy. >> brie jackson live in d.c. thank you very much. we have more to come here on "worldwide exchange," and including the one word voinvests need to know today. and one of the stocks powering big tech. and france is heading for a hung parliament. what that means for the far-right's power play and european investors. and the end of the era. looking to take paramount from the retodsne family. we have a very busy hour when "worldwide exchange" returns. stay with us.

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welcome back to "worldwide exchange." we are following breaking news in france and a fast moving story following the second round of parliament elections. we have charlotte reed in paris and arabile gumede in the newsroom in london. let's start with the election surprise, charlotte. good morning. >> good morning, frank. we were standing here four weeks ago where emmanuel macron called the snap election and the far righ right made huge gains. the far right, as we were saying, did not get anywhere near close to the absolute majority here in france. the big surprise that they actually came third in the

result. the group that came on top was the left-wing coalition there. that also opens a lot of questions. none of the blocs in the election were near the majority of 289 seats for majority. now there will be talks with the negotiations with the parties whether a coalition or alliance can be put together. this is not the tradition of french politics. we have to wait and see what that means. gabriel attal, part of emmanuel macron's party, has put his resignation to the president. he will run the day-to-day affairs and starting with the olympics starting in two and a half weeks here until the new prime minister is proposed. there is a big question mark of who could be the prime minister because there is no majority here. we have to wait and see what this means. the fragmentation of french politics continues and will be

reflect in the parliament. big job for the centrist parties here because they did fend off the far right. they made gains and not what they are hoping to get. they were hoping to get the victory in the parliamentary election as a stepping stone for the presidential one in 2027. the centrist parties have big responsibilities of getting their act together or this could be further ground for the far right. >> our charlotte reed in paris. thank you very much. we have arabile gumede with the trade in london. arabile, good morning. >> good morning, frank. look, all that charlotte has spoken about would have bred instability and calls for concern from the market watchers. that is what the market looked like it was going to head toward. a bit of negativity to start off the trading day. more than two hours since the market has open and we have gone fairly positive.

.4% higher out of france. .4% right there. past 7,700 points. the italian market has eased off the highs for the day. still, generally a positive sentiment across the day's trading and green for the ftse 100 up .10% higher following on the landslide election victory with the labour party in the uk last week. out of the cac 40 and the french market, who are the winners and losers? you still have the luxury traders finding negativity. lvmh and kering in the red. the biggest loser is teleperform being the big loser. credit agricole managing to move higher. so, too, sanofi, managing to

move higher. it may have felt positivity, but a lot to come with the prime minister still to be selected in france. what will it mean for the market as well as global trade? frank. >> a lot of green on the board with the index. arabile, i know you have been watching the euro leading up to the second round of the elections? >> we had seen weakness actually as the trading day actually began. now, as it stands unchanged and seeing somewhat of a positive tilt for the euro. perhaps, investors are looking at this saying it is the best of both worlds. it may be the lesser of the two evils option here considering it is not necessarily the right-wing that has moved into a positive spot, but really more the left and that may gal van

ize many. does it actually put president emmanuel macron in a much more difficult situation? >> a lot of questions when it comes to politics over there in europe. arabile, great to see you. arabile gumede live in the london newsroom. coming up on "worldwide exchange," we are tracking beryl as it tracks down on the gulf asand coast of texas. we will have much more after this. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the

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welcome back to "worldwide exchange." you can see the s&p there. futures in the red across the board in the early trade. now i want to turn attention to the big money mover of this morning. paramount global agreeing to merge with skydance media. that deal, which was approved last night by a special committee of parmamount directos is a two-step process. s skydance is run by david ellison and will merge with paramount and paying $4.5 billion in cash or stock to investors and paying $1.5 billion. paramount now has a 45-day window to find a buyer. the deal ends a four decade run of the redstone stfamily.

that deal has to be finalized. we will continue to watch the developments as they develop. turning to the gulf of mexico and the developing story as beryl makes status as a category 1 hurricane. it is expected to hit category 2 status over the next few hours as it tracks north. we are watching oil as drillers remain closed in advance of the storm. looking at the lows of the morning. let's send it over to jay gray live in port lavacca, texas. one hour from the eye of the storm. jay, good morning. >> reporter: good morning, frank. this storm has made landfall within the last 15 to 20 minutes here. you are looking at lava an ca bay behind me. we are seeing the winds picking

up and spitting rain right now. the surf has been strong as well here. we are going to continue to see that over the next several hours as it storm pushes inland. we see the first of what we expect to be several tornado warnings at this point. that is something you have to worry about with the storms making landfall. tornadoes. it will now shift from the wind to water being an issue. some areas have seen more than 3 or 4 inches of rain. now getting 2 to 4 inches every hour. flooding is going to be a big issue, especially in the houston area. that's an area that an has problems with flooding and low lying areas with flooding before and likely they will see that during this storm as well. beryl has also taken out power to many of the areas in the region. tens of thousands now without power. we do expect to see that number climb. so, important to remember, frank, and you have been in these storms and you understand

this. when the storm makes landfall, that's not the end of it. it's just the beginning. we will continue to see the winds whip back around and bring the bands of heavy rain. that's something to continue as well. this texas gulf coast is an area very familiar with the problems the wind and water can bring. many in this area, the lavaca area, have moved to higher ground and moved out of the path of this storm. there were voluntary evacuations here and across this region. so, a lot of people have moved out. it will be a while before they move back in. frank, this storm has to clear. >> we were down in new orleans with hurricane ida. the people and impact on people are always the first concern. i want to ask you we talked about the oil industry in texas. what are you hearing about that as far as the oil rigs and other parts of the industry? >> reporter: yeah, they pulled everyone from the rigs in the path of the storm.

it is interesting to watch. it hasn't affected the price to this point. what will it do long term? it depends on how long the crews have to stay off the platforms and get back. if there's any good news to all of this, the storm is moving about 10 miles an hour. it should clear the texas area by the end of the day. that's optimistic, but it should get out of this area and allow those crews to get back and get back to work . if there is any good news, that is the fact that the storm is moving quickly and be much more than a ripple in production. >> jay gray live on the gulf coast. jay, you stay safe. very good to see you. thank you. coming up on "worldwide exchange," apple and tesla are two stocks powering the latest rally in tech. our next guest has some ideas of what will power the next gains. if you haven't already, follow us on our podcast with

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over the 737 max crashes. it is monday, july 8th, 2024. you are watching "worldwide exchange" here on cnbc. ♪ welcome black to "worldwide exchange." i'm frank holland. we pick up the half hour check of the u.s. stock futures with all of the major averages hitting all-time highs and coming off the best week since april. look here. futures are hred across the board. off the lows of the morning, but still in the red. the dow would open up 10 points lower. checking on the bond market this morning ahead of a busy week for your money including jay powell's testimony on capitol

hill. the ten-year yield is 4.31. it has fallen from its high. right now sitting at 4.31. that is the money set up. we turn our attention back to stocks and the nasdaq coming off a round of record highs and best week since april. helping to drive the index higher was tech and the close. the big move was the rally in tesla shares up 10% since last week and turning positive for the first time in 2024. all the mag seven stocks are now in the green for this year. let's discuss the tech trade with james cakmak at clockwise capital. good morning, james. >> good morning, frank. >> i want to focus on just the trade today. we are coming off the mixed jobs report that had people thinking we are going to have a september cut and jay powell on capitol hill on tuesday and wednesday. how do you see the tech trading today? >> it is interesting. friday was a day where bad news is good news again.

obviously, you have the uncertainty as it relates to powell. the good news is that, i think as you move forward, the inflation numbers are continuing to come down and the jobs report also helped bolster the fact that the rate cuts are likely on the table in the near future. if you look at the fed funds futures, they actually moved up ten points from a week ago from 60% to 70% odds of a rate cut in september. i think we should hang in there okay today. really, it's all about the data and powell's testimony this week. >> all right. it is all about his testimony. how do you see his testimony impacting how investors view tech and also the potential broadening out? we have been hearing murmurs of moving to other matters, but big tech? >> i think following the june event, it has driven the gains. they are also taking a lot of potential returns from 2025.

we do think the incremental returns on the broader indices will be incrementally difficult with the caveat being that a rate cut can add another leg, but it will likely be choppiness in the in aterim. >> i want to get into what you are looking at, specifically software. you gave us a couple of picks. we will show you the chart here. palantir and adobe. investors are reacting to them differently. palantir. up over 50%. why jump in now? >> all of these adds were in the last four-to-six weeks. really, the reason we like it now is we think from the cybersecurity perspective, they are best positioned. they are not a standard firewall

security play. they're predictive and we like that. we think that's an under appreciated asset where the assets have the ability to move a step function higher versus the street numbers currently lie. >> james, stay with us for just a second right now. i want to focus on the other part of the tech rally and it could face road blocks from eu regulators sending warnings for slig violating the digital act. he have steve kovach with more. >> good morning, frank. the tech laws have been in effect for a few months and the companies in the u.s. are in the cros crosshairs. they target the biggest companies in the world and force apple to allow third-party companies. even though these companies have

had years figure out how to comply, the european commission says they are not doing enough. they will be fined up to 10% of global sales if they don't make changes. the ec started investigating compliance. apple is getting the more s scrutiny so far. last month, eu told apple it is violating the terms of the agreement. it is opening up a new inquiry over fees it is charging outside of the app store. the commission said meta's plan to charge users to avoid being tracked for ads violates the tech code. the companies like amazon can't

favor its own products over third parties. and x is violating content moderation rules under the dsa. i expected to hear from that any minute now. this is separate from the dma and dsa. late june, it told microsoft it was abusive by bundling the teams app with outlook and word. reuters reported last week that french regulators are preparing to charge nvidia for anti-trust regulators for the chips it makes for artificial intelligence. when it comes to the next wave of tech, these ruling rules are having a chilling effect until they can comply with the new laws. >> steve kovach live at the nasdaq. thank you very much. >> thanks. >> james, back to you. steve laying out the regulation with the eu. are you looking at regulation

risk with the tech trade right now? >> we are always looking at regulation risk. more so stateside versus the eu. the eu seems to always come after them in some way, shape or form. they have the anti-trust laws completely backwards as we have in the u.s. where we protect con sum consumers, they protect businesses. i won't take it seriously until i have to do so. >> i want to get back to one other area you are looking at for opportunity. robinhood. the stock is up over 75%. up over 810% year to date. how much of that is levered we will get rate cuts? >> i think partially. at the end of the day, this is a company that is underappreciated and where it can gain an

tracti attraction and strengthening the retail market. this is one that is not fully valued to its potential. we bought at $18 a share. obviously, it will be volatile and will move with crypto as well. you have to be able to withstand the pain. if you have a longer-term horizon, we feel this will be a huge winner. >> james cakmak, thank you very much. coming up on "worldwide exchange," the one thing biden said would make him bailout of the white house and what it means for the owgring call of democrats. we'll back after this break.

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you got to be kidding me. rolling towards the cup, and it's in the hole! what an impossible shot brought to you by comcast business. i mean, if the lord almighty said joe, get out of the race. >> that was president biden with the interview on abc news. back to the campaign trail. president biden fighting for his political future. president biden building on the weekend from the interview on friday. working with his members and donors that he is the right candidate to beat donald trump in november. this as top democrats met on capitol hill to consider if he should stay in the race. hakeem jeffries told the wall street journal that several house mlawmakers called for him

to drop out. today is the first day lawmakers are back on capitol hill since the holiday recess and the biden-trump debate more than a week ago. joining me now with more is ed mills at raymondjames. ed, good morning. great to have you here. >> good morning, frank. >> ed, i know you have been fielding calls from clients all weekend long with the shifts in it. is this priced in that lawmakers are coming to capitol hill and the ability to talk to the press and what might come out of that? >> frank, the way i'm viewing this is in d.c., people with power, like to keep power. we are on a collision course with congressional democrats and the biden campaign. so, throughout this week, i do think there's going to be this groundswell of democrats on capitol hill who fear the fact that joe biden could very easily lose this election in november

and drag down the house and senate with him. so, as we see that, my expectation is there's going to be a more pricing in of the potential departure of biden, but biden in that interview with abc, biden over the weekend is adamant about sticking in. which part of this works out is really as close to a toss-up as we see. if biden stays in, i think the market prices in a higher probability of a different agenda items in 2025 of former president trump. >> this is something else in your notes that you have been getting a lot of calls on is tariffs. according to the campaign, president trump would put a 10% tariff on everything in the world besides imports from china and a 60% tariff on imports from china. when you talk to clients, are

you hearing people ask about their portfolio in relation to this in particular? >> i think they are concerned about two things. one, when we go back to the first trump administration and we had the trade fights with china, multiple times the s&p 500 was off 20%. yes, the market was up over the course of the trump presidency, but there was a lot of volatility tied to the trade agenda. number two, there's a question of when you add the tariffs to an immigration policy in extension of the trump tax cuts of 2016, more concerns of the second wave of inflation and how will the bond market react to that and what will the fed do on monetary policy? i spent a week in europe recently. europe is very concerned about a potential trade fight with a trump administration. clients here in the united states are concerned about what is the rate path and what is the ability to get this done. there's what you want to get done and what the market might

let you get done is increasingly the conversation here at raymond james. >> tariffs are a tkey for the markets. the tax cuts brought the corporate rate down to 21%. what are your clients saying about the tax rate for corporations and also individuals? >> the trump campaign said they would like to reduce that 1% more and a new provision to the 2017 tax cuts which is removing taxes on tipped wages. so, the toss of extending all of this is increasingly getting higher. it is about $5 trillion. when we look at the debt and deficit and where it is, increasingly, what we get from questions from clients at raymond james, republicans want to extend the tax cuts out, but will the market allow them to spend another $5 trillion next year? i think republicans will attempt

to do that, pretty quickly, actually, especially if they get a republican sweep which we upgraded our odds to a 45% chance this morning. the most likely scenario at this time from a market perspective so there are winners from those tax cuts, but also potential concerns from the tax cuts from clients here at raymond james. >> a lot to weigh. we have a long way to go until november. thank you very much. coming up on "worldwide exchange," boeing set to plead guilty to a historic criminal conviction. phil lebeau is coming up next to detail what's next for boeing. stay with us.

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welcome back to "worldwide exchange." more on the news just breaking. boeing agreeing to plead guilty over criminal fraud and pay $250 million in fines over the crashes in 2018 and 2019 that killed 346 people. our phil lebeau joins us with more on the plea deal and reaction. phil, good morning. >> reporter: good morning, frank. this is not unexpected with the negotiations with the department of justice and boeing the last several months. this began and triggered by the event with alaska airlines where the door plug was blown off in mid flight. that prompted the doj to say wait a second. that is the violation of the agreement that you agreed to in

2021 with regard to the original two 737 max crashes. this is the agreement from the department of justice. it still needs to be approved by the judge. boeing will plead guilty to conspiracy to defraud the government charge. that is a felony, by the way. they will agree to pay $243.6 million in a fine. same fine they paid for the original case back in 2021 and they are committing to spend at least $455 million to strengthen their safety and quality control pro protocols. there will be a corporate monitor who will be hired and approved by the court to make sure boeing institutes those changes, at least over the next three years. this all stems from the max crashes in 2018 and 2019. boeing is not commenting on the

details of the plea agreement. simply saying they have agrgree to a plea agreement with the federal government and leaving it at that. as we said earlier, frank, as you look at shares of boeing, they still need to have this agreement certified, essentially, by a federal judge, and the families of the victims of the original crashes said do not do a plea agreement. take these guys to court. take boeing to court. make them pay a heavier price. the department of justice decided this is the route they will go. this is the stiffest charge that they could make stick, if you will, against boeing. we'll see how a good reacts to this if they modify it at all over the next couple weeks. >> attorneys for families calling it a sweetheart deal and

calling fire it for a public tr. how will this complicated ceo search? >> the new ceo has to take that into consideration in terms of what he or see will be able to do in that job. with regard to bidding on things like defense contracts and talking with those familiar with the thought process at boeing, they believe that if you look at the statutes that federal contracts, you can get a waiver for a particular contract even if you are a felony corporation, which is what boeing will be now if this agreement is ratified. therefore, they believe -- let's say there is a big contract for $800 million for some defense contract next year. they believe that the department of defense, if boeing has the strongest bid, could give that

bid to boeing by issuing a waiver with regard to the felony conviction. >> phil lebeau, huge story. thanks for gifving us the lates on the story. phil lebeau on the cnbc news line. coming up on "worldwide exchange," we have the one word investors need to know today. if you haven't already, follow our podcast. if you miss us, ll ufoows on spotify or our podcast apps. more "worldwide exchange" coming up after this. [♪♪] your skin is ever-changing, take care of it with gold bond's healing

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welcome back to "worldwide exchange." as we get set for the trading day ahead, the s&p is set for the 34rd record close of the year. off the lows of earlier today. the dow would open up 5 points lower. that is basically flat. let's bring in victoria greene who is the cnbc contributor. vicky, great to have you here. >> good morning, frank. >> we are between the mixed jobs reports and the testimony from jay powell today. what is your wex word of the day? >> my word of the day is if. there is a fantastic poem called

"if." there's going to be hope. there's going to be despair and beats and misses. you just have to take it and realize you shouldn't panic. it is probably not all good and probably not all bad. it is fantastic to me. we are rotating away from the dearth of the economic. we had no earnings really. i'm excited for q2 to ramp up. >> i never knew you were a poet. fascinating. speaking of q2 earnings, i read your weekly note you put out. you have thoughts about financials and specifically the shareholder return plans beyond what they already announced. >> obviously, the stress test went well for them. i think that will be high for them. some of your bigger banks as well with jpmorgan chase and trading and dealmaking thawing out a little bit. m&a has heated up a little bit. asset management should be good. some of the large diversified

banks will do well and not facing any concerns on the deposit flight. there are always a couple of surprises in there. generally speaking, it looks like a friendly regulatory environment for financials and still making an lo lot of money >> i want to get to the one sector this earnings season that you say just stay away from is airlines. why are you so, i guess, bearish on airlines especially going into earnings? >> because i think peak travel is behind us. peak pricing is behind us. you have seen issues there. you have costs rise and a lot of contracts. you are looking at margins not being what they are. delta reports this week. they are the best in the breeds of the banks. you see these trade off a little bit. i think investors are saying maybe we have peak profitability in airlines behind us and if we have rising fuel costs and rising labor cost, and labor is a huge cost for airlines. i don't see them as a huge

catalyst. they just can't gain any more. we have seen ticket prices continue to come down. you are possibly at risk you will see a little bit more misses or lower guidance which also is a killer recently. >> vicky greene, great to sigh. thank you very much. one more look at futures in the red across the board. that does it for us. "squawk box" starts right now. good morning. breaking overnight. boeing pleading guilty to criminal fraud charge related to the crashes of the 737 max planes and what the company did afterwards. skydance and paramount have reached a deal to merge ending the redstone era. straight ahea and hurricane beryl makes landfall as a category 1 hurricane. we will speak to governor

abbott. it's july 8th, 2024 and "squawk box" begins right now. ♪ good morning, everybody. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen. andrew is off today. joe's here. >> i am here. you're here. >> i'm here. the two of us. today. today. >> today. >> it's summer. u.s. equity futures at this hour under the slightest bit of pressure. dow futures down 9. the nasdaq off 14. you did have the s&p 500 and nasdaq close at record highs once again on friday. stocks have started july on a tear. the dow's actually up .23%. the