global headquarters. i'm frank holland. here's your "five@5." the rebounds are trying to build gains in the first positive session as upbeat earnings take over recession fears. other in asia stocks are rising for a second straight day, adding to a market rebound from bear market lows. the key catalysts driving that this morning. we dig into the crypto market and why the recent volatility has not changed that.

and what a harris/walz administration, what that could mean for stocks. we get ready for disney stocks, and we lay out the number you need to watch for. it's wednesday, august 7th, 2024, and you're watching "worldwide exchange" right here on cnbc. good morning and welcome to "worldwide exchange." thanks so much for being with us. let's get you ready for the trading day ahead. we kick off the hour with the stock futures pointing to a second day of gains. we are clawing back after three historic days of losses. the s&p is onning up 50 points higher, the dow about 280 and the nasdaq, $200 higher. gains, but a long way away from the record-highs we saw in the last few weeks. take a look at the nasdaq.

12% away from its highs and the ruzle 16% away from its highs. the 10-year yield is sitting just below 4% and taking a look the benchmark at 3.92%. the yield treasury pack above 4%. some strong upside moves in the last two few days, the yield moving up over 20 basis points. we want to look at oil this morning, hovering just a tick below 70 bucks this morning. wti up 0.64%. same with brent crude. that's your morning setup. a very busy day wrapping up in asia and europe, opening up green across the board. our dan murphy is in london with the early trade. dan, good morning to you. >> fraung, gnk, good morning to.

let's pull it back and give you a look at how the session closed up in the asia region. stocks in the region eeking out a modest gang. hong kong's hang seng up and stocks down under, rising also, 0.25%. i want to show you what happened in japan. this has been a major focus in the last 24 hours. stocks on the nikkei up 1.2%. we saw deputy governor lsaying there are now factors and caution in raising interest rates. it's clearly a downside risk to the economy. meanwhile on the earnings front, softbank in focus after posting a net profit of 10.4 billion yen in the first quarter. that was well below expectations despite a 1.9 billion yen gain. you can see here the stock was up 5.2% nevertheless.

europe also in focus, and the "financial times" called this a sum irstorm today. i guess you could say we're starting to see perhaps some sun shining through the rain here. london's ftse up by 7.7%. we're also seeing significant gains. paris contact is up and germany as well. green on screen coming back to these markets, but as i said, still a long way before we can call this a fully fledged recovery. in focus in europe is the big one. novo nordisk has raised its full-year guidance. however, the pharma giant also cutting its outlook, the full year operating growth as well. that stock trading lower through the course of the session. frank, it's over to you. >> dan murphy, thank you very much. we turn our attention back to wall street. a very busy morning on the earnings front. taking a look at shares of

airbnb, they're down about 16% after delivering a disappointing outlook. a warning and setting up what will be the slowest pace of recovery since 2020. airbnb says consumers are holding off booking overnight stays, and the company is expecting, quote, sequential moderation of nights and experiences. shares down about 16%. we're watching reddit. you can see the shares down 1.5%. out with better than expected sales numbers, current quarter outlook looking at it. the long-term challenges of committing plans that it's stable and of high value. also shares of micro, down more than 12% after reporting quarterly revenue and profit the sales outlook did top expectations. the key this morning is margins

and concern its reliance around ai demand and coming in around 11% from its most recent quarter compared to 17% a year ago. authorizing a new 10 for 1 stock split. again, shares down just about 12.5% right now. with futures higher, let's talk about the trading days ahead. our next guest helps lead the global invasion, global dividend and technology funds. good morning. great to see you. >> good morning, frank. thanks for having me on. >> i want to get your take on what we're seeing at least a second day of rebounds. what do you make after that huge shock on monday? >> it's been a roller coaster of a couple of days, and i think what we're seeing in the market right now is realization that we possibly overreacted to the data on friday where the opinion and recessionary were sort of

overblown. we don't see or expect a large recession at this stage as opposed to just, you know, a slowdown, possibly a mild recession. you've got to remember 14 days ago, economic headline was a surprise to the upside. the gdp growth came in at 2.8%, well above 2.1%. we are certainly seeing a slowdown in the economy. we've seen that in the labor market. we've seen that in the weaker consumer. but this is -- this is the impact of higher interest rates finally taking the shorter cycle indicators that are weakening, but that's precisely the point of the tightening. >> so, claire, i want to ask you, if you're not concerned about a recession, are you concerned about just volatility and the slowdown that you're pointing to as you look at a slowdown and sentiment that

seems to swing pretty wildly when it comes to economic reports. do you have to worry about sentiment even when you're not worried about a recession? >> we're focused on the fundamentals of our company. it's most impossible to call. what we got to see from this earning seasons so far is the companies are exceptionally strong. the s&p is 11%. that's a significant step up from 6% last quarter. about 80% of the companies are beating expectations. this doesn't scream a recession to us. that there will be volatility in the near term, but we think as long as the company fundamentals are strong, that also means we're overconfident in the long-term profits. >> you're looking at a company that can withstand a slowdown

and also obtain growth. one of the company ts you're looking at is meta. i want to ask you. is that a garp trade, growth at a reasonable price? >> we think it's where you want to be in a slowing economic environment. you want to be in those companies that can deliver growth above market expectations but also the underappreciation. so, yes, i guess you could consider it as garp. we don't think about stats. we don't think about the actual companies. what we think is underappreciating about meta, it's just -- we do see better opportunities outside the magnificent seven, but outside of that, meta stood out this quarter because they're in the minority of companies that are really deploying iowai at scaled reaping benefits. very few companies are achieving that. a lot of investors are hearing

consternation of where the benefits are of ai investment. >> you know, we don't talk a lot about currency on this show. one thing i want to point out is the mavs on the dollar, down 2.5%. i want to go to a note from yesterday. it says the big holders of the mag seven should be lobbying for the fed to sit on its hands because only with a structurally strong u.s. dollar with microsoft, alphabet, nvidia, and -- >> the first time i heard somebody talk about the mag 7 tied to it, it helps the companies and the dollar weakness is part of the weakness we're seeing now. >> wouldn't it seem that it's -- that it's a benefit, and we really don't think about that

when we're looking at these companies. we do think we see lower earnings growth for the magnificent 7 on the back half of this year partly because of the depreciation of all of this ai investment flowing through the income statement and that that's contributing to some fair specter in the market today. over the longer term, we think that's quite healthy, seeing a broadening out of earnings growth beyond the magnificent 7, but it's not predicated on views on currency. >> thank you very much. for much more on what's in the markets and trading addai ahead, head to cnbc.com. we've got a lot more to come including one word investors have to know today. first, getting picked last, why crypto appears to be sitting out and the bounceback. and what a harris/walz white

house could look like for stocks on election day. and we have numbers on disney. still a busy day ahead when "worldwide exchange" returns. stay with us. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the

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. lyles will need a good leg here. can he deliver? here comes the pass! look at this kid! coming in tight on the line. team usa, what a run! it's gold for team usa.

noah lyles with another gold medal. in case there was any doubt, who was the breakout star of these world championships. they're in the green. the s&p is up. the dow jones looking like it

would open up more than 300 points higher, up about three-quarters of 1%. the nasdaq doing well as well. le the nasdaq up by just about 200 points or over 1%. all right. bitcoin and the cryptocurrencies bouncing back. crypto bulls have long played it as a safe haven asset or crypto goal. joining me now is the ceo of coin shares, the largest digital company in europe. they run several bitcoin etfs in the u.s. good morning. it is great to see you. >> thank you vfor having me. bitcoins down. your ticker down just about a percent more than that. what does that tell us, this

recent action? what does that tell us about the fact that bitcoin and others could be saving trades? >> there was a buildup of pressure on bitcoins, all of the companies setting assets on the balance sheet. then you compound that with the tensions in the middle east, compound that with the japanese situation, and i would say over the weekend, look for how to sell asset because of the assets, people were selling what they had before the margin core happened. bitcoin caused damage, so did gold. since monday we saw bitcoin kind of bouncing back from the low 50s and now trading around 56,000. >> i didn't want to interrupt you, but you were about to put it into perspective.

you said they trade 24/7. in your mind that makes more sense. the election shakeups and all the things in your mind, that makes them more sensitive. duh that mean we're going to see a bigger upside if we expect bigger cuts and other bets? >> i see it all. you can see the way it bounced back, it shows a very strong institutional positioning on the print. we're going to see it bouncing back. i'm very comfortable seeing bitcoin much higher by the end of the year. >> why are we recently seeing the cryptocurrencies trade to the simple qs and the nasdaq 100 and other mega cap trades? why are we seeing that similarity and why is that broken down in recent days? i look at the qqqs why are we seeing that when before they were kind of trading in line?

look, it's taking margin protection and people are looking for relief. when you look at it, the big performer hedge fund was covering the investments and covering the losses from all the positions. so in the this kind of situation, people are looking for liquid crash and bitcoin was a way to say, okay, we're out of the trade. we're looking at it. there is a downfall. when the risk management says you're out, you're out. there's no discretion with it. >> all right. thank you very much for your time. appreciate you. hire on "worldwide exchange," we've got a lot more coming up including we're looking at vice president harris picking her running mate. they're looking at what a harris/walz team could look luke

for stocks when we return. stay with us. energy fuels, a leading american uranium producer, is ramping up production to supply expanding nuclear markets and diversifying into rare earth elements, key ingredients in many clean energy and defense technologies. energy fuels.

what is cirkul? cirkul is what you hope for when life tosses lemons your way. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the effortless energy that gets you in the zone. cirkul, available at walmart and drinkcirkul.com.

turning to the 2024 race, vice president harris will go to the battleground states along with tim walz. harris announced walz as her pick. walz going very quickly from his introduction to his views on the economic agenda of former president donald trump.

>> if trump gets a chance to return h e ooh going to pick up exactly where he left off four years ago, only this time it will be much, much worse. raising costs on middle-class family. he will repeal the affordable care act, no doubt about it. he'll gut social security and medicare. >> the campaign says it's raised at least $20 million following the announcement of governor walz. joining us now is our next guest. jimmy, good morning. good to see you. >> good morning, frank. >> further, were you surprised at all? i think people thought josh shapiro ross going to be the pick. then it was tim walz. does he have a meaningful impact on this ticket when it comes to investors? >> i think generally with these vice presidential picks, if

there's a meaningful impact, it's often been negative. if you can get a vice president where people cannot detect an impact, she probably made a pretty good pick. i think, you know -- i'm a betting markets guy. betting markets thought shapiro was it until the very end and then walz soared to the top. i guess i'm slightly surprised. but if you look at his views and what he's done as governor of minnesota, you mentioned on issues like climate change, on kind of these care economy issues like the child tax credit and paid leave, things which are probably going to be something that vice president harris focuses on, these are things that were part of the buildback better agenda, i think it actually sings up pretty nicely. >> you're mentioning his record as governor. he was in favor of higher taxes, sale taxes in particular, higher

government spending. he also has spent over a decade in congress as well. in your mind, what's more meaningfuling his time as governor or time in congress? >> i think your time as executive is pretty important. yes, he's for higher taxes. minnesota has a pretty good record on business. as far as when they do the rankings, it ranks very high on good places to do business, so i would tend to look at what he did as governor when he was an executive. it's also sort of the more recent record of his, and he looks like he's a progressish. he likes higher taxes, you know, wants to spend on social programs, kind of what you would expect. not only does that sync with the harris agenda, but the biden agenda. there's not this kind of radical difference that people are going to raise eyebrows and people are going to go, where did this guy come from? >> last question, i think people

thought josh shapiro was goungs to going /* going to be the puck because they need to win pennsylvania. minnesota not seen as a battleground state. >> it's a different way of looking at the race. do you want to hone in on one state, try to win it, or you're hoping that he can kind of help a number of states, it's a nice fit with the candidate. when you look at the maps, how much it really comes down to pennsylvania, tomy when i saw this pick, i thought, well, that is a gamble. kamala harris has a bit of a gambler in her heart to not go with shapiro. maybe there was something personal, they didn't sync very well. pennsylvania is so obvious a state she needs to win that, you know, i think it's a slightly riskier pick than picking shapiro, but we'll see. >> it's a surprise, but not that

big of a surprise. >> wait until tomorrow. there will be more surprises. >> i believe you. as we go to break, we're watching tripadvisor, reporting second quarter results that were well below analyst estimates and flagging, quote, anticipated top line head wipds, coming in below street expectations, down just about 15%. we're back right after this. chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley power e*trade's easy to-use tools make complex trading less complicated. custom scans can help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley at aes, our energy solutions have powered the world forward for more than 40 years. and as demand continues to scale, so do our solutions.

introducing maximo - our new ai-enabled solar robot. max makes construction faster, safer and more cost effective than ever before. and with max doing the heavy lifting, even more people can join the team. solar energy is changing the world, aes is changing the world of solar.

dave's company just scored the comcast business 5-year price lock guarantee. high five! high five! -i'm in a call... it's 5 years of reliable, gig speed internet... five years of advanced security... five years of a great rate that won't change. yep, dave's feeling it. but it's only for a limited time. five years? -five years? introducing the comcast business 5-year price lock guarantee. powering 5 years of savings. powering possibilities.

it's about 5:30 a.m. the markets are looking for a second straight winning section. futures are pointing to more gains. disney results are coming up, the battle over the streaming front and center with the company once again hiking prices. and getting the pulse of the u.s. consumer and the economy. we'll have a conversation with ceo of gxo and what he's hearing from clielkts like nike, pepsi, and so much more. it's wednesday, august 7th, 2024. you're watching "worldwide exchange" right here on cnbc. welcome back to "worldwide exchange." i'm frank holland. great to have you on bond. stock u.s. futures looking for a

second day of gains. green across the board. the dow looks like it would open up 55 points higher, the dow looks like it would open up 300 points higher. we're taking a look at the big effort gainers in the s&p. cybersecurity stock fort anytime up followed by axon enterprise. home builder d.r. horton up in third place. we're checking the bond market with the tell-year yield sitting at 12.4% well off the lows earlier this week. remember it was hitting its year low actually. since then we've seen it move up. the benchmark at 3.39%. similar moves. important to note that the two-year just above that 4%. we also want to look at energy. energy hovering below 70 bucks. taking a look right now. wti, that's the u.s. bench

market up thee quarters of 1%. brent crude up hmm three-quarters of 1%. okay. that is your morning money setup. let's go to earnings. really dominating the conversation today. right now it's time for your big money movers. they're running on second quarter earnings. revenue climbing by 15%. thanks to a rise in restaurant orders. they expect better demand for online shopping and delivery as it partners with bigger rew e tailors and with banks. rivian shares, they're moving lower after the automaker beat expectations. they're focusing on net losses during the second quarter. the ceo saying yesterday the losses were partly due to production inefficiencies. >> what we see for the q2 numbers doesn't have any updated

numbers in them and has a challenge. for roughly one third of the quarter, our production was down. we had an inefficient quarter. >> shares are surging after the massive pop. it secured $5 million in new deals. lumen expects the trend to continue. forecasting $7 billion in sales and a two-fold amount in sales over the next five years. shares up 43%. almost 44%. for more catch kate johnson at 4:00 p.m. at "closing bell" overtime later on today. disney's earnings are set to come up soon. our julia boorstin has more on what to watch in those results. that frank, with disney shares down 23% since the last earnings report on weaker guidance,

analysts are looking for 3% revenue gruct and action sem racing from last quarter's growth and 60% growth in earnings per share. they're watching the company's parks division after last quarter disney said it would have a softer quarter and after comcast universal reported a disappointing 11% drop in theme park revenue and now there are growing recession fears. on the upside, disney studio is showing strength after blockbuster performance of inside out 2. they'll be looking for strength in streaming. after yesterday, disney announced price hikes, citing confidence customers will pay more. hulu's live tv plans will cost $6 more. we ale be sure to hear more on that when the company reports this morning.

let's bring in gina sanchez. her firm owns stocks in disney. good morning. >> good morning. >> their streaming business, they announced price hikes yesterday. the estimates for this quarter, $153 million subs when it comes to disney subs. is that good enough. is it good enough when it comes to this business in your mind? >> it at least shows they're going in the right direction. given they announced price hikes before earnings suggests to me there's maybe some room for upside surprise because they have to be confident about that growth in order to put price hikes on right now while the consumer is otherwise slowing, so that is a very good signal. we definitely saw some action in disney yesterday as disney moved up ahead of the announcement. >> all right. what about the parks business? some people are concerned about the parks business. you mentioned the slowing down

consumer. >> yes, absolutely. and i think, you know, the issue with the parks at least in california, which is where you saw weakness before, that wasn't necessarily a slowing consumer as much as it was inflationary pressures and wage pressures. those have actually come down. theoretically, we should be able to see some recouping there with regard to profitability. now, what would make us nervous is if we also saw sort of a demand slowdown in the process. we're not expecting it. that's not part of our core view. the view is that the parks continue to be strong. in fact, amazingly resilient given the fact there is a slowdown happening. >> i haven't seen it yet. but lot of excitement about deadpool & wolverine movie. in your mind, what are you expecting when it comes to guidance, when it comes to that business? how important is that in the future of this company?

>> that's the core of this company. it continues to pump out intel intellectual property. there's a lot of questions, are they going to sort of get back to, you know, more content. there i think disney+ has been a huge component of continuing to add, you know, spin-off series and new series into the -- you know, onto streaming, but blockbuster is really where disney is heading and it needs to continue, and i think it will continue if you look at the commitment there. we should be able to see sort of continued creative success. >> you didn't say if you wasn't to see it yet. >> i haven't actually seen either. but i do want to. >> they're pretty good. i want to see it at i maction. good to see you. coming up on "worldwide exchange," shares of euro

companies in the red. in the drug market, shares are down almost 3%. we're going to be back in just a moment.

and welcome back to "worldwide exchange." one more look at the futures. as we mentioned, in the green across the board. look at the dow. it will open up higher. the nasdaq and s&p both gaining. the russell, up justin 1.7%.

we'll continue to watch futures throughout the show. now it's time for your morning call sheet. we're going to start off with wells fargo, saying it sees a less compelling risk/reward picture for the back half of this year. deutsche bank updating. it looks a bit more balanced, citing expectations around a combined flu/covid vaccine. this one a hold from bernstein. bernstein citing the fact shares are up 35% and there's growth around the mobile royalties. japan is opening up higher. the central bank said it would not raise interest rates when stocks so so volatile. the nikkei is back to almost where it was on monday.

and china markets are helping beat expectations. export forecasts still up solidly. a busy morning with earnings up novo novo nor lowering its outlook. also the auto parts unit and sony accelerating its profit, topping estimates, though, it did miss its full-year 2023 target for playstation sales. and also soft baifrpg vision announcing a new $3.4 billion share buyback plan. coming up here on the show, the one word every investor needs to know today, plus an exclusive conversation with cfo. and the concerning economic

signals he're seeing. that's coming up next when "worldwide exchange" returns. stay with us. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities.

all right. welcome back. we're watching shares of gxo as earnings. on the earnings call, gxo whose customers include apple, nike, levi, pepsi, and mars cites

softer growth in europe and the e-commerce business has grown. joining me now is malcolm wilson, gxo ceo. welcome. thanks for being here in the st studio. talk about your earnings report. revenue up 19% over the year. we mentioned some of your customers. >> overall we've been seeing growth from all of our customers, particularly strengthening youth in our uk and continental business. good news. we're signing a ton of new business across all of geography. that's setting us up for the good half of the year. >> malcolm, don't hold back on us. what are customers telling you? what are they saying about the consumer? we're saying the consumer is a bit stretched, pulling back. is that what we see happening? >> we get to talk to so many.

generally everybody's still looking at a soft landing environment. and already inventory levels are starting to return from the warehouses. we're starting to gear up and get ready for your the holidays. >> so you had a busy june, by the way. you made deals with human robotics and m & a. you were talking a lot about the future of your business and how tech and logistics are kind of going hand in hand now. you say you're using ai and ten times the facilities this year than you were using last year? what does that mean. what is that? >> i we use ai very practically. we use it to advance the planning of all the people we use across our business. so we hone the number of people working in each of the warehouses. we use it in the detailing of our processing, when we're

building pallets that are going out to the retailers. so it's really a practical application alongside all of the other cool technology. >> you were trying it out before, and now you're actually using it. technology obviously a bigger and bigger part of logistics. as we look more, what are the next step as wes look at the companies when it comes to companies and logistics? what are they going to do now they weren't able to do more? >> the next generation, it's super exciting because you can actually put those into thewarehouse. you don't need to do a big redesign of the building. >> but does it make delivery faster? what does it do for me? >> the machines don't need a coffee break or lunch break. it's the early days, so we egot

it. in the. coming years, i think we're going to see more and more of those machines rolled out. >> impact tbd, but you're trying it right now. >> we're in the detailed design. we're working for dexterity configura configuration. >> right now it's august. it's hot outside. i know it. you're getting ready for the holiday season right now. they start filling warehouses g? >> we're preparing for the holidays. we look at the beginning of september. as i mentioned, inventory levels have been steadily improved across all of our customers. so we are gearing up for the holiday season. that's the time when we are a net hirer of labor. we'll be looking to hiring around 20,000 new people across

our business, getting ready for the holiday season. >> while we're talking about september, the fed expected to make a cut 125 basis points, 50 basis pointsing how does that impact your business? >> i think it's going to slightly improve the holiday season. it will give people more confidence in terms of their spending power. we'll see the benefit. >> malcolm wilson, ceo of gxo. great to see you. thank you very much. coming up on "worldwide exchange," the defensive picks our next guest is recommendeted a. check us out on apple and spotify and other podcast apps. much more "worldwide exchange" coming up right after this break.

with so much entertainment out there wouldn't it be great... ...if you could find what you want, all in one place?

show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some of the biggest names in streaming, all for just $15 a month. get the fastest connection to paris with xfinity.

. welcome back to "worldwide exchange." time now for your w.e.x. wrap-up reportedly investigating wells fargo, morgan stanley, and others. the banks cheated customers out of billions of dollars and interest payments. boeing says it's working on design changes to avoid another door plug blowout like the one on alaska airline jet back in

january. the changes will be implemented this year. microsoft is accusing delta of not modernizing before the outage. they said last week they have no choice but to seek damages from crowdstrike for those obstructions. and there's warning of demands, pointsing to shorter booking windows, suggesting that guests are waiting as they worry about the economy and about inflation. they beat forecasts on strong demand for ai servers, but the shares are falling as the profit and margin guidance came in. here's what to watch today, we get earnings from disney and ce health, lyft, and warner brothers. also do not miss an exclusive interview with jpmorgan chase

ceo ceo. let's bring in chris more angie, cio at the value team. good to see you. we've seen a bit of a rebound when it comes to rebounds. what is your w.e.x. word of the day? >> my w.e.x. word of the day is defense, and i'm not talking about what's happening in football camps across the country and talking about stocks that have financial flexibility and adaptable management, because that's what it's going to take. are you making moves into defensive stocks right now? >> well, listen, this has always been the formula, our three-legged stool. i think we're leaning more heavily on that. we're halfway through earnings season.

we look at the softness, the consumers reallying other. last night we heard from other travel companies. we expect some softness in the parks. you know, we're not ready to call a recession today, but let's call it a softish landing. the fed does have the tools to respond to that and that keeps us reasonably constructive on the market. >> you have concerns on disney parks. they are some watt expensive. sports also expensive. why is that one of your defensive picks? >> since sports rights have appreciated at over 16% in the last 20 years, asset values, there are very few ways to play it. it's one of those ways. it's a company controlled by dr.

john malone. it was spun off as an independent company last july, so they're free to monetize that at any point and we think it's worth much more than the $2.2 billion that's implied by the market today. >> another one of your picks is the parent company comcast. why are you seeing that right now as a defensive play? the dividend is something a lot of people gravitate toward, but what are the factors that make that a defensive play in your mind? >> listen, it looks like a lightly regulated majority. it comes from the broadband franchise, which is doing reasonably well in the face of increased competition, but they're more than holding their own. this is obviously a good recurring revenue stream, and they're making progress in the media part of the business with peacock, which is having a pretty good olympics, and the parks, having cyclical pressures, which reported out on earnings and caused the stock to

come down a bit. long-term, we've got universal opening. >> we had some news yesterday. kamala harris picking minnesota governor tim walz to be her running mate. in never mind does it have any impact? >> it's going to be center stage for the next few months. we're back from a dead heat from the overing wewhelming odds of a few weeks ago. first of all, we think about, is this election going to go smoothly, have a clear winner come january, and, secondly, what's the impact of taxes, regulation, productivity. ultimately the american economy is going to do what it's going to do. obviously the politicians are not unimportant. last question, volatility

we've seen in different days? also what have been wild swings when it comes to sentiment. uchlt was just a couple of weeks ago that they came in soft. sometimes good news is bad news. it kind of goes flip-flopping. is that something you have to actually adjust to or do you just ride it out? >> yeah, i think, frank, actually that you have to have the fortitude to just ride things out and maybe not make moves. i think there's often a danger in being too active, making too many moves, adjustments, based on short-term data. you think long-term. what are the kinds of franchises you want to own for the next 10, 20-plus years. they're ones we mentioned, comcast, the braves. othering that we krntly live. obviously we're always responding to the news flow, but

have that long-term mind set. >> chris more angie, thank you as always. one more look at futures as we mentioned. in the green across the board. take a look at the green. it looks like it would open more than 3 points higher. the s&p up, the nasdaq up over 1%. strong surge in the market after a big shas on monday. "squawk box" coming up in just a few seconds. actually starts right now. thanks for watching. good morning. futures are in the green so far in early trading but really getting back to some of the best levels yesterday because into the close yesterday,erring sort of came down. the games in paris, we'll see. disney is rolling out results. first it's hiking streaming prices across the board, and the stock in the premarket is moving

higher. and investors checking out of airbnb after the company warns of slower demand in the united states. it's wednesday, august 7th now, 2024, "squawk box" will begin right now. ♪ good morning and welcome to "squawk box" right here on cnbc. we're live at the nasdaq market site in times square. i'm andrew ross sorkin along with joe kernen. becky is off today. as joe was showing you, let's show you the u.s. equities. the dow is down after the opening. nasdaq up about 218 points right now. the s&p 500 looking to open about 54 points higher. now, the major averages all snapping a three-day session losing streak. the dow added nearly 300 points