it is 5:00 a.m. here at cnbc global headquarters. i'm dominic chu in for frank holland. here is your "five@5." investors set for the earnings season and the next market move. up or down. breaking news. israel responds to weekend attacks on its territory from hezbollah in southern lebanon. energy markets are on high alert. never sell your bitcoin so says former president donald

trump in nashville. and mcdonald's, same-store sales problem as it looks to break out of a rut as it reports later today. and disney with the superhero gold with the blockbuster. it's monday, july 29th, 2024. you're watching "worldwide exchange" right here on cnbc. ♪ good morning and welcome to "worldwide exchange." thanks for being with us on monday morning. let's kickoff the futures after the mixed week for futures last week. the dow closed higher for the fourth we'ek in a row. right now, the dow is implied higher by 995 p95 points higher. we are watching the russell 2000

small cap futures as the three-week winning streak. the futures are up .50%. we will see whether or not that momentum continues for the broadening of the market. checking in on the bond side of things ahead of the busy week for the economy with three central bank decisions and a friday jobs report. currently, the state of play with the yields with the ten-year treasury note ticking lower at 4.16%. the two-year note at 4.17%. let's see how europe is shaping up with the trading day. carolin roth is in london with the latest on that european trade. good morning, carolin. >> good morning dominic. positive start to the week here. we had a fairly choppy week last week with the earnings report. the dax is higher of 0.1%. the ftse 100 is supported by the

oil and gas stocks. of course, oil prices are higher with the events in the middle east. that is propping up that market. we are seeing weakness with the cac 40. we are thick in earnings season. philips is beating expectations in the second quarter. that was boosted by order intake growth in north america as well as restructuring plan. the medical device maker posting 11.1% of sales last year. barclays saying the margin beat benefitted from productivity gains and to some extent from price. before i hand it back over to you, i want to show you the asian markets today. bouncing back from the weakness that we saw last week particularly with the yen weakness. that index was down 6% alone last week. given the yen strength that has come through. that picture has reversed as we see the carry trade back in

trade going back to the boj meeting today and it is advancing on the nikkei. when it comes to the chinese markets, it is flat at the end of the trading session. we did get numbers up 3.6% on the industrial numbers in june. dom. >> carolin roth, thank you very much for that. no now to a developing story. israel retaliating after the strike in the golan heights region that killed 12 people, including teenagers and children. last last night, israel defense forces say they hit seven targets deep inside lebanese territory after the israeli security cabinet authorized strikes a day earlier. the militant group hezbollah denied responsibility for the at attack. the deadliest one on israeli

civilians since october 6th. we are watching oil prices right now currently just about .2% lower for u.s. benchmark west texas intermediate and ice brent crude. $77 for wti. this week could be a huge test for the markets overall which could determine the path forward for the stock market in the near term. more than one-third of the dow industrials and s&p are reporting. including metaplatforms and microsoft and apple and amazon. the fed announces rate decisions on wednesday with the boj expected to hike rates and the fed setting the stage for a possible move in september. if that wasn't enough, the week is capped off by the big july

jobs report. joining me amid this is brryan detrick. what ticks the market higher or lower from the current levels? >> dom, thank you for having me. good morning, everybody. so, i think what is fascinating about this month so far, dom, july is strong. check that out. now here we are at the end of july which is usually pretty strong. i want to point out one thing you mentioned at the top of the show. last week was mixed. dom, last week, 437 stocks on the s&p were higher last week. although it lost 1%. why is that? we know the large cap tech communications have been pulling things back. i think this overall -- i know a lot of guests have said it, including me, this rotation is positive. look at small cap technology?

that is doing just fine. i think that stands out to us. there is a lot of news this week. just the underlining pinnings, dom, i have not seen any major cracks. august is usually not that great of a month. look at election years. i'm not so sure the rally is quite over yet. it may have a bit of juice left to it and then the normal august volatility with the election is likely. >> you brought up the point. it is maybe call it five of the magnificent seven that determine the direction. many of the names will report this week. what we saw last week was that, you know, these big tech names don't have enough in the tank to power the market higher. we saw what happened with alphabet. we saw what happened with tesla. can we expect the same with the other ones this week? >> i wouldn't be surprised. the bar is set extremely high

for those names. they handled so much spectacular earnings overall and justified. that's not a bad thing. for the longest time, people complained seven stocks were going up. others were going up, but those were going up more. big tech is not doing as well. you don't have to be widely overweight in large-cap tech. i love the example of 3m. 20%. 3m is selling things. it is not just about a.i. all the time. there are major positives taking place. sure, we're watching the big tech names. what is happening overall with other consumers and financials and industrials. dom, i don't think anyone is talking about this. regional banks are up 20% this month. i just don't think that is mr. market's way of saying this is a big monster under the bed with the group of regional banks. i think that's ga good sign.

>> ryan, how many of names like 3m, small cap and regional bank trade you are talking about is due to just so many bets against them right now that people are rushing in to close out the short positions and there is not enough of the momentum to keep things going to the upside fundamentally speaking in. >> that's a good point. four weeks ago, nobody wants to own small caps. we have been overweight small caps and mid caps. we thought inflation would get better and we would see rate cuts. we they three or four rate cuts is possible this year. you mentioned can this rally s continue? it is historically cheap just to keep it simple. we think it can keep going, dom. we had an 11% bounce a few weeks ago with the russell.

when you have a 10% bounce in five days, a buying thrust of incredible pressure of buying going out a year and you are almost 90% of the time -- we can get into more stats. i think that beach ball is way under the water. you let go and it starts to get momentum. i that ink that is wis what is happening with small and mi midcaps. >> sounds like a stock pickers market to me, ryan. thank you very much. see you soon. >> thank you. >> for more on what is driving the markets and trading day ahead, head to cnbc.com/pro. you will get insights and analysis from folks like ryan detrick. let's get more from the trading day ahead with silvana henao. good morning. >> let's start with apple intelligent arriving later than expected. missing the initial launch of

the next iphone and ipad software overhauls. according to bloomberg, apple will release in october ahead of 18. developers are set to get their hands on the software as soon as this week. former rockwell collins ceo is joining the list of candidates under serious consideration at boeing to become its next chief executive. according to industry publication, joining pat shanahan and stephanie pope as the lead contenders. and "deadpool & wolverine" breaking box office records in the first weekend in theaters bringing in $205 million in ticket sales since friday. that is the highest u.s. debut of the year and biggest opening

weekend haul for an r-rated film ever. earliy estimates between $160 million and $180 million in the opening weekend. internationally, $233 million in ticket sales, dom. >> it seems like hollywood is back. thank you very much. see you later on. thank you, silvana. we have a lot more to come here on "worldwide exchange," including the one word that investors have to know today. first, the golden arches losing their luster as investors lower the bar ahead of the earnings report later today. what to expect from mickey d's next. and donald trump whipping bitcoin bulls into a frenzy. later on, more on the big tech week of earnings. wedbush's dan ives is here with ilpreview. stl more ahead on "worldwide exchange" when we return after

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welcome back to "worldwide exchange." to the consumer and mcdonald's set to report the second quarter reports ahead of the opening bell this morning. shares of the company are off 15% year to date as the company continues to warn shareholders it is fighting for a smaller pool of consumers. mcdonald's has missed same-store sales estimates for the last two quarters and hoping a $5 value meal menu will help win some of

the customers back. this as a new lending tree survey back in may found more than 60% of americans say they cut back on the fast food spending because it is too expe expensive. don't tell that to chipotle who just saw the shares rocket higher last week on the back of the stellar earnings report and strong same-store sales report since 2021. let's break it down with brian harber. brian, i laid out the case. we are consumers and americans and inflationary pressures. what is in store for mcdonald's? >> thank, s, dom. good to see you. what is the case so far is the lower-end consumer pulling back.

you have the concerns spread broadly. chipotle had a very good quarter. in their case, we see a bit of slowing from the end of one q to the end of two q. there is a broader slowing in the restaurant industry. not falling off a cliff, but broader slowing at this point. >> we saw the same thing play out to a derivative degree with lam weston, the biggest frozen potato suppliers across america. you can think of quick service names, mcdonald's and others. what do we then read into some of the lam weston and supply chain side if this slowdown has legs? >> for example, mcdonald's is its biggest customer. we expect mcdonald's to post negative same-store sales quarter. probably the toughest since covid hit. you see the pull back there.

i think people understand it at this point. i'm expecting the current quarter is off to a slow start, too. we'll see pretty broad weakness across the fast food coverage and their results speak to that. >> what exactly does that mean for mcdonald's overall as a stock and as an investor am i worried about what's going to happen there? is there a level of safety or level of mcdonald's feels s li it's a good value or bargain? >> i think we're around that point. you have seen the stock stabilize because of that. like i said, probably a tough q2 and a tough q3. we have been optimistic they can reassert the edge. we do think they can regain that and as you go into later this year and as you go to '25. our house view is not a recession. we think through the $5 meal and other strategies to continue,

they can regain that value advantage and the stock will start to work. >> brian, for your coverage universe, there are a number of names you look across the spectrum. is there a top pick you see given your economic outlook not so dire and there is a little bit of a value trade to be had in some of these names? >> well, mcdonald's is certainly one we like. we tstill like domino's. domino's is posting traffic growth year over year. there were expectations when they reported, but industill grg traffic. sf frankly, we still think it sets up pretty well later this year and into 2025. that is one we like, certainly. >> brian, always making me hungry this time of morning. thank you. >> thank you. we have a news alert from the white house. in an op-ed in "the washington

post," this morning, president biden is focused on the supreme court with the term limits and ethics and a constitutional amendment to say no sitting president is immune from prosecution for crimes committed while in office. all of this happening, again, with an op-ed in "the washington post." we'll look for comments later today for details around it. coming up on "worldwide exchange," rising tensions in middle east and a new factor in south america have energy traders on high alert. helima croft is here to weigh in when "worldwide exchan" tus teth bak.e something amazing is happening here. data is bringing creativity to life. that's because cdw showed animation studios new ways to maximize their infrastructure, then built a flexible dell technologies data solution. more automation led to greater efficiency,

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energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. woelco welcome back. bitcoin is getting a pop today as donald trump is embracing the digital currency. trump is speaking at a conference in nashville on saturday promising to make the u.s. the crypto capital of the world. his quote. we have mackenzie sigalos here. mac, this is, was, the biggest bitcoin conference of the year and this was supposed to be a big splash with regard to president trump's keynote. take us through the feeling on the ground and whether or not

bitcoin prices can still get more optimism with the ramp up. >> dom, in nashville this weekend, the presidential nominee spoke to a packed room over his vision of a second trump administration would mean for the crypto industry. trump said he would get rid of s.e.c. chair gary gensler. dom, we know the president doesn't have the power to sack appointed commissioners. gensler would remain on the agency. trump promised to launch a stockpile of 210,000 bitcoin around $14.5 billion the government has seized in leg actions. >> for too long, our government has violated the cardinal rule every bitcoiner knows by heart. never sell your bitcoin. if i'm elected, it will be the

policy of my administration, united states of america, to keep 100% of all the bitcoin the u.s. government currently holds or acquires into the future. >> notably, he stopped short of proposing a formal federal reserve of the digital currency. he said the stockpile strategy would would seecement the token. a lot of people in the room, dom, were hoping for a radical pitch on what he could do for them in the oval office. >> mac, this is the situation, you caught up with people on the ground following the remarks from president trump. how exactly was the speech received by the general audience? was there excitement? was there a little bit of pause? what was the feeling? >> it was a letdown because the day before, you had robert f. kennedy jr. announcing on day

one of office, he would sign an executive order of the treasury acquiring 400 million of bitcoin on par with the gold standard. people wanted trump to go farther than a stockpile into a federal reserve. one would bring forward a bill proposing $1 million bitcoin over the next couple years. this is a republican issue where they tried to align them sselve with the pro-crypto cause. >> we heard a lot from former president trump about this. now we know who the person will be from the democratic side of things and it looks like it will be vice president kamala harris, what do we know about the views f from a potential harris administration about bitcoin? >> that is what everybody is waiting to hear. they were in talks with the vice president's team to join the conference. there were a handful of

lawmakers on the ground in nashville. most of them were republicans, but two were democrats. one is ro khanna. he has been holding these round tables with crypto to get a sense of what they want to hear. he has been in talks with the vp's team and advising them on policy. he says they are open. i sat down with the representative from north carolina. he said we can expect to see a pivot in the crypto strategy. we know there is reporting out there that the harris team is meeting with industry experts to form an opinion of how they could potentially ly craft a py to share. people are keen to hear what they have to say on this. dom, in nashville, people are skeptical because she is part of the biden administration. >> mackenzie sigalos with latest from the bitcoin conference of 2024. thank you very much. coming up, a look at the

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bring on the good stuff. it is 5:30 a.m. in new york and there's still a lot here on "worldwide exchange." a new hope for investors as earnings kick into high gear possibly providing a catalyst to the beaten up a.i. tech trade. israel strikes back against

hezbollah for the rocket attacks as they look at the rising risk. and return of the fed as we await jay powell and other speakers this week. it is monday, july 29th, 2024. you are watching "worldwide exchange" here on cnbc. ♪ welcome back to "worldwide exchange." i'm dominic chu in for frank holland on this monday morning. let's get a check of the futures. nasdaq is down .50% in the overall trade. watching the top gainers on the nasdaq 100. the oil trade. the s&p is up 13. now the nasdaq 100 gainers right now.

you see astrazeneca and ge and alphabet and moderna and applied materials are the names to watch in the nasdaq 100. u.s. benchmark prices are down this morning. we are keaeping a close eye on the bond yields. the ten-year note is ticking lower to 4.16%. the 30-year long bond at 4.21%. this wednesday, we will hear from the bank of japan set to debate the interest rate hike and the bank of england comes out on thursday. turning back to the stock market, the big tech is facing a big test as four of the magnificent seven set to report. microsoft, meta and apple and amazon out with results this week after a weaker than expected report and numbers from

alphabet and tesla led to a massive selloff for certain parts of the tech market. that makes the stakes higher with the nasdaq down 7% from the july 10th peak and nearing correction territory with a 10% pull back from the highs. let's discuss this further with dan ives over at wedbush. he covers the tech names. dan, did it scare you a little bit? i read your notes. did it scare you a little bit to see what happened with alphabet and tesla with the results? >> dom, it dwidn't. if i look at the cloud, that's bullish. where is tesla spending on incremental a.i.? i think it is a big week for tech earnings. you look at amazon and microsoft and meta. this a.i. revolution is just starting. that's why i continue to look at it as get the popcorn out moment

and turn to the tech bull market. this selloff, i view as a bump in the road, not the end. >> you got the popcorn out. which of those four that i mentioned is the main event for you? >> i think the main event is going to be apple. that, to some extextent, is whae see with the china growth and the iphone 16 coming out. you look at cloud, amazon, microsoft, i expect strength there similar to alphabet. i think that's the market is focussing on despite the white-knuckle scare last week from the bulls. >> i'll follow it up. apple's a.i. features will arrive later than expected. a bloomberg report saying it will come in october instead of september and miss the software update cycle. what does it mean for the apple

earnings call on thursday given the apple intelligence feature is front and center? >> that doesn't move the needle at all for us. i think it's really focused on iphone 16 in september. this is really an a.i. driven cycle. at the end of the day, those customers will be getting those a.i. features. i don't view that. it all comes down to developers. developers are getting it on time. that is the heart and lungs of the ecosystem. >> you mentioned the cloud and the a.i. stuff that goes along with both microsoft and with amazon. if you take a look at those two stokes, vis-a-vis, what happened with alphabet earlier this past week. maybe the results are positive like you point out, but the stock reaction is not. does this mean there is a shift of consumer sentiment of the ambitions and how much they will

cost? >> that's a great question. i think it is more nervous nnes when we see a.i. monditezation. i believe this is the second inning of the nine inning game. it is still it 9:00 p.m. in the a.i. party that goes until 4:00 a.m. that's what we willsee. it is all about follow the cap ex and follow the spending. last week, alphabet, tesla, those selloffs are buying opportunities. golden buying opportunities in our opinion. >> what about meta platforms? people have focused so much on apple and microsoft and nvidia and alphabet. meta platforms is still pretty high up there with regards to the weight in the markets. what do you need to see from meta? >> if you look on advertising, that rebound will continue. that is what zuckerberg will talk about.

although they have spending on a.i.-cap ex. this is an a.i. arms race and meta is not outside looking in. >> of the magnificent seven, what is the best one in the next 12 months? >> i think a year from now, apple with the $4 trillion market cap. microsoft will get there as well as the godfather of nvidia. right now, the bet is on cupertino. >> thank you, dan. >> thanks. coming up on the show, a stellar earnings report and a major mover this morning. the monday mystery start. you are seeing it right there. first, some of the top trending stories. robert downey jr. returns to marvel. he previously started as ironman

from 2008to 2019. former president trump taking on a new form. conservative dad's ultralight beer youout with the fist pump following the failed assassination attempt. the previous version of the can with his mug shot was the most collected can last year and sold for hundreds of dollars online. no beer is perfect without a perfect plate of wings. offering free or discounted wings today in celebration of national chicken wing day. data shows americans had more than 1 billion servings of wings in the last year. up 5% from the previous year. wings. "worldwide exchange" is back after this. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning.

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way. cirkul, available at walmart and drinkcirkul.com. welcome back to "worldwide exchange." time for the morning call sheet. piper sandler is cutting charles schwab. the plan to reduce the balance sheet could be a positive in the long run, but likely weigh on the stock for the next several quarters. go guggenheim is upgrading akamai to a buy as it shifts to cloud

and cybersecurity. and deutsche bank is upgrading 3m. it was impressed from the first interaction with the ceo and sees potential to deliver mid 20 operating margin compared to the p peer companies. time for the global briefing. shares of eisai sink. the eu says there are too many safety concerns associated with the therapy including swelling and potential bleeding in the brain. eli lilly was granted approval for the second alzheimer's drug this month. shares of heineken profits grow. the dutch brewer is raising the profit target for the year with the 6% increase in revenue. heineken will invest in sales

goes forward especially in the key markets. shares of philips rising in the second quarter. cost savings from job cuts helped drive the profitability and income liability claims tied to a recall product contributing to the stronger quarter. philips shares in europe up 10%. still ahead on the show, the one word that every investor needs to know today, plus global hot spots. two new risks for investors this morning from the middle east to south america. what you need to know this mi une. with rbc's helima croft congp xt we'll be right back. (grandpa vo) i'm the richest guy in the world. hi baby! (woman 1 vo) i have inherited the best traditions. (woman 2 vo) i have a great boss... it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is.

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to help you see untapped possibilities and relentlessly work with you to make them real. welcome back. now to a developing story. israel retaliating against lebanon following the strike on the soccer field in the golan heights region that killed at least 12 people, including teenagers and children. the idf hit seven targets deep in lebanese territory after the security cabinet authorized strikes the day earlier. the lebanese militant group hezbollah denied the attack which is the deadliest attack since october 6th. israeli and white house officials say the strike was conducted by hezbollah using

their rockets within areas they control within the region. oil prices are drifting lower on the news. let's bring in helima croft who will bring us more context around wjust what this means. helima, i expect this attention,s escalation in the middle east, would lead to higher prices. we are seeing stable prices right now. why is that? >> hi, dominic. i think the issue is many participants do not believe energy supplies are at risk from the middle eastern conflict. they saw the direct confrontation with iran and israel in april which did not lead to supply outages and faded this story. we continue to warn at rbc that the biggest risk for the conflict expanding and iran becoming involved is in you have israel invade lebanon with

ground forces like in 2006 or any type of serious direct confrontation with hezbollah, we think could bring iran into the conflict because hezbollah is iran's most important project with how they protect power glo globally. it is an important story to monitor. >> what do you think are the potential signs you would see of the broadening of the conflict? what actually happens to get iran possibly, hypothetically, more involved in the middle east conflict? >> i think we should be watching for the potential of any movement of israeli troops to the border in a significant way in preparation for a ground invasion. again, a ground invasion, akin to what we saw in 2006, could be the catalyst for a much more significant conflict. the israelis have a lot of

calculations to make. they have 60,000 despite the people who moved away from the border in the north. if you get hezbollah to move off the border, these people will not move home. before saturday, a lot of security experts say it is a matter of time before israel takes action against hezbollah. >> what does it mean there is not a supply issue here? how do you then see u.s. producers reacting to the current environment? it seems to be very stable for prices right now. is there an incentive for america to keep producing the way it has been? >> i think it is too soon to say there's no risk to oil supplies because we saw in 2019 when the u.s. exited the iranian agreement and imposed maximum sanctions, iran did respond attacking tankers off the uae and attacking the facilities, the world's largest facility.

if you did see iran become involved in the conflict, if you saw a serious escalation, we cannot rule out the regional energy supplies could be caught up in the mix of this. again, i think it is too soon to say this story although we have notseen any supply disruption yet. we did see a precedent in 2019 for energy to be directly targeted. >> helima, before we let you go, i want to move to south america. that's another oil producing country of venezuela. a winner has been declared. nicolas maduro is president. the election was highly con cont contested. they are a major oil producer. what do you think it looks like for the global relations given this outcome and declaration? >> what is interesting is the biden administration actually lifted significant energy sanctions on venezuela in advance of the election to

essentially incentivize them to hold decent elections. they had reimposed some sanctions in april after the leading opposition candidate was disqu disqualified. still, several u.s. companies are allowed to operate there now. the question is, will the united states now have to significantly tighten sanctions on the back of what looks like a fraudulent election in venezuela? >> helima croft, thank you very much at rbc capital markets and a cnbc contributor. we appreciate it. we'll see you soon. coming up on the show, disney's r-rated record-breaking weekend. the response to "deadpool & wolverine." if you haven't, follow our podcast. check us out on spotify or other podcast formats. we'll be right back.

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welcome back to "worldwide exchange." time for the "wex wrap-up." kamala harris raising $200 million in the first week as the democratic nominee. a poll from abc news shows

harr harris' favorability rose in that time period. and apple is missing the next software rollout. apple will begin to roll out the feature set in october. weeks after the release of ii0s in september. and the growing list of candidates at boeing which include spirit aerosystems pat shanahan and boeing chief operating officer stepcitstepha pope. and "deadpool & wolverine" bringing in $205 million of ticket sales in the biggest opening weekend haul ever for an r-rated movie.

here is what to watch for the week ahead. the list includes four mega cap the names in meta and apple. we while hear from mcdonald's and merck and chevron among others. we have a trio of central banks holding meetings this week. the fed and bank of japan will announce on wednesday. it is also a week full of economic data with housing and labor market topped off by the jobs report on friday morning. let's see how the trading day is shaping up ahead of the critical week for the markets and your money. joining me now is vince larusso of cloud capital. vince, this is a situation where few investors are just a little bit worried about whether or not the large-cap earnings season will do what it did last week.

do you feel optimistic? >> good morning, dom. we are optimistic for sure. we are fund managers and we have an active strategy. we are thinking about the cycle here. we are excited about it. in the near term, we had a pull back. all eyes are on earnings this week. we think these companies will demonstrate strong metrics. the free cash flow and revenue visibility. there is reason to be a little bit concerned of the volatility in the market. if you have a long-term persp perspective, areyou are interes in the companies. >> why the hype over tesla? >> you need to understand expectations. the data that came out was clearly strokng. that is what introduces volatility in the markets. we look at the broader perspective and say these are in the early innings of the

investment cycle. if you look at the free cash flow and the earnings and sales growth, when the market starts to rotate into small cap or starts to broaden out, that creates opportunities for us. we have a broad mandate. we are not solely focused on large cap tech. we are looking at investment opportunities across the landscape. >> vince, take us through your word of the day today. >> we're thinking about context. you know, that's a bit of a segue from the conversation we had, dom. the context is really important. we have a busy week. not just earnings releases, but the fed and interest rate e expec expectations. there is an expectation the fed will not move this week, but begin to hint rate cuts in the future. we think the context around what the companies say and what we learn from the federal reserve and the employment data and inflation data all that context points to a good equity

investing landscape. it gives us a lot of conflict in the mandate. not the reactions or over reactions is going to drive the investment process. >> vince larusso, thank you very much. >> thanks, dom. keep it here. "squawk box" starts right now live from paris, france. good morning. huh? celebrities and business leaders have gathered in paris for the olympic games. we're in the city of lights to bring you high-profile interviews and coverage throughout the week. it's also a busy week for the markets after the dow explosion on friday. earnings from microsoft, amazon, apple and meta platforms, plus a fed meeting and the july jobs report. adam aron told us.

blockbuster debut for "dead poo and involwolverine" at the box office. it's monday, july 29th, 2024. "squawk box" starts right now. good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we are live from paris, france. that's where the 2024 olympics are under way. there are some big headlines takes place already. simone biles leading the u.s. women's gymnastics team heading into the finals. biles was visibly pushing through calf pain ahead of all this. she was able to qualify for five individual finals. she had been wearing a