it is 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5." the longest winning streaks of the year. futures working for gains. kamala harris pulling back the curtain on her economic agenda looking to hike taxes on corporations. her vision for the country. >> kamala and tim will continue to take on corporate greed and

bring down cost of food. elon musk in the white house? the apparent role former president trump is mulling for the tesla ceo if trump retakes the white house. a fresh look at the health of the consumer and retail sector as lowe's gets ready to report. the new suitor throwing the hat in the ring for the bidding war of paramount global. it's tuesday, august 20th, 2024. you're watching "worldwide you're watching "worldwide exchange" here on cnbc. thank you for being with us. i'm contessa brewer in for frank holland. let's check on the u.s. futures. right now, we're seeing that they are working to open in the green. implied opening on the s&p 500 up 3.5%. the dow implied higher by 20.

the nasdaq by about the same. the s&p 500 and nasdaq coming off their eighth positive session in a row. the longest win streaks of the year. the dow with the fifth straight positive session. let's turn on the bond market and the fed minutes and kickoff of the jackson hole summit later this week. we're seeing yields moving lower on the two-year down 4.057% and the ten-year up 3.871. the latest on oil and the middle east. israel accepting a proposal to tackle disagreements on the cease-fire in gaza. brent is off .50%. rbob is down .75%. gold is closing at $2,541.31. the highest settle after touching the record high of less

than $2,550 earlier in the day. right now -- say that to me again? we're having chart issues. we are still hovering around a new record high. let's see how europe is shaping up. dan murphy is live in the london newsroom with the early action there. hi, dna. >> dan. >> let's begin with the live look at the trading through the course of your tuesday trading day. as we pull back here, look at london's ftse pulling back .50%. stocks have been trading broadly higher. you can see those gains led by the smi up .32%. all things considered not too much to write home about here. trading has been cautious as we come into jackson hole. market investors looking for a signal that we will see a cut from the u.s. federal reserve in september. that may be a green light for further equity gains and perhaps

what global markets need after the recent bout of volatility. all eyes on jackson hole. at the same time, we have seen european equities actually up for a sixth straight sectssion d the stoxx 600 lingering near a six-week high. let's pull it back and show you what is moving in the sectors. contessa, you flagged what is happening with oil. the oil and gas sector is the loss leader pulling benchmarks lower. the oil and gas index down 1.44% right now. technology up 1.12%. contessa. >> dan, thank you very much. i mentioned gold is up .75% as we speak. let's dig further into the action and bring in seema shah. can we start with the energy markets here and what you are

seeing in terms of oil and the declines we have seen the last couple days. >> thanks for having me on. it's been very interesting. you are seeing the movement right now is in line with geopolitical tensions. you have been seeing that the last couple weeks. the fact it is declining is a little bit of a signal the tensions are easing back. we are still work waork watchin closely. it is driven by factors difficult to proper edict. >> we got reassuring data last week. it seems everyone is waiting looking to jackson hole and the comments that come not just from the fed chair's speech on friday, but other leaders there. in the meantime, what data points are you looking for that could move markets here and abroad? >> i think the key thing we are looking at is everything to do with the labor market.

we will see important revisions to data. that will be important. the more important one is weekly jobless claims on thursday. that is giving us a timely indicator of how the job market is moving after the weak payroll report a few weeks ago. this is why we are focused on that and so far, the data has been encouraging. we are looking to jackson hole and very interested to hear the central bankers are looking to say. i think for us, the most important event of the month is going to be the next jobs report the beginning of september. that is the one that really tells us how weak is the economy and how weak is the labor market. that will give us a clear indication of what to expect at the next fed meeting. >> it is funny if you are seeing data that is reassuring on the economic front and fears of recession should not be immediate, but gold is hitting a

n new-time high? how do you hedge the bet with the reassuring data? >> as you said, the data has been reassuring the last week or two after we had the big scare. what we are seeing is i think expectations for recession have just made a shift higher. people are watching it closely. there is that fear now in people's minds that recession could be on the way even if it is not imminent. that is what you are seeing gold react to. although economic data has proved better, everyone is intent to see how this is evolving the next couple months. after you had significant tightening from the fed over the previous 18 months or so, we do know recession risk becomes more elevated at that point. >> do you think the equity markets continue to grind higher? >> i do. we don't believe that this is going to end in recession. we believe this is a soft landing. we are reassured by the fact

that the economic data, the fed has a lot of space to cut rates. against that back drop, we should expect to see earnings growth stay solid and that should mean the markets can make some gains over the next couple months. i think there will be a lot of volatility that the market will respond to every single economic data point that comes out over the next couple months. that will drive a lot of swings in the market. >> seema, thank you for your insight. for more on the markets and the trading day ahead, head to cnbc pro at cnbc.com/pro. turning to the 2024 race. elon musk's pro-trump pac reportedly turning attention to the battleground state of north carolina. bloomberg reports citing online job postings by a vendor working with the america pac that it

show it is is looking to hire canvassers in the state. it is also hiring in michigan. meanwhile, former president trump told reuters, he would offer musk a cabinet position or advisory role in the administration. the former vice president also revealed he is considering getting rid of a $7,500 tax credit. the former president rather. for certain new electric vehicles which could affect tesla's business. following the interview, musk to x and wrote, i'm willing to serve with a picture of him behind a podium with text that reads department of government efficiency or doge. a nod to his crypto coin. meanwhile, vice president kamala harris is pulling back the curtain on her economic agenda calling to pull back the corporate tax rate to 28%.

harris made a surprise appearance at the first night of the democratic national convention as her current boss used the night to hand her the democratic party torch. nbc news' alice barr has more from chicago. alice. >> reporter: good morning, contessa. convention night one saw the surprise appearance from vice president harris. focus on reproductive rights, but the theme was the swell of contributes to president biden. president biden and vice president harris side by side on the convention stage p for an unparalleled moment in american politics. >> joe, thank you for your historic leadership. >> reporter: after the vice president's surprised appearance, an emotional joe biden entering to four minutes of thundering applause. >> america, i gave my best to

you. >> reporter: the president going on the attack against former president trump touting his own legislative record and praising his second in command turned nominee. >> she's tough, she's experienced and she has enormous integrity. >> reporter: mr. biden soaking in tributes to his leg acy from the party that called for his ouster. >> all these people said i should step down. that's not true. >> reporter: first lady dr. jill biden. >> all he's accomplished in the name of something bigger than himself. >> reporter: a series of democratic icons. >> the future is here. >> reporter: and rising stars speaking to the surging energy with kamala harris at the top of the ticket engaging young voters like amani billups.

seeing a marked shift and urging the party to keep listening and as protesters against the war in gaza raise their voices outside, unity prevailed inside night one of the democratic national convention. the headliner tonight, former president obama and former first lady michelle obama. former president trump was in pennsylvania yesterday and heads to michigan today. contes contessa, back to you. >> alice, thank you for giving us a wrap up of last night. i appreciate your time. a lot more to come on "worldwide exchange," including the word of the day and a new suitor stepping in for paramount global. shares of palo alto popping on the back of earnings. what the company's ceo told jim cramer about capitalizing on the a.i. wave.

and later, betting big on brazil. the mobile gambling companies that could cash in as that country gets set to regulate gambling. a very busy hour ahead when "worldwide exchange" returns.

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quarter past the hour. let's get a check on the corporate stories with silvana henao. >> good morning, contessa. a new suitor for paramount

global emerging. edgar bronfman has made a $4.3 billion offer for national a amus amusements. the company that holds a controlling interest in the giant. the apparent move comes after skydance reached a $4.5 million agreement to acquire paramount. that agreement contained a 45-day go shop period. that allowed parmen amamount evaluate other offers. and boeing pauses the 777 x tests. it has grounded three other test planes. reuters reporting that the faa will require inspections of boeing's 787 dreamliners after the march incident where a plane

went into a sudden midair dive. it was due to a movement in the captain chair to cause the auto pilot to disconnect. shares of amd giving back the 4.5% gains yesterday. we are seeing it slightly higher right now after revealing plans to buy server builder zt systems for $5 billion. speaking to cnbc yesterday, amd ceo lisa su touting the logic behind the deal. >> zt is really a very strategic acquisition for us. to grow our market open opportunity and penetration in the 400 million tem. there is a lot of opportunity out there. we're at the very, very early innings of this a.i. build out. >> su adds the deal ultimately centered on amd investing for the future. contessa. >> silvana, thank you.

let's get to the money movers now. three stock stories of the morning. palo alto is rising after fourth quarter results beat forecast and gave up beat guidance. they bragged about the platform sags -- saying that three times fast. the bundling of products and services and palo alto's ceo talked up the company a.i. services with jim cramer on "mad money" last night. >> along a.i., we are excited. we crossed $200 million in real a.i. and selling products to customers. this is not an idea. we sold $200 million of a.i. we're checking on shares of u.s. steel which fell 7% yesterday. unchange in the extended trade right now. former president trump and pennsylvania governor josh

shapiro reiterated the nippon steel takeover. the governor said the deal is proposed, but not fair for steel workers. shares of trump media ticking higher today after falling to the lowest level since late march. that is when the parent company of truth social completed the merger and started trading on the nasdaq. earlier this month, trump media reported a second quarter loss on less than $1 million revenue. ahead on "worldwide exchange," a growing merger fight as kroger fires back at the federal government bid to block the nearly $25 billion rival takeover. we'lbeig bk.l rhtac ♪ something amazing is happening here. data is bringing creativity to life. that's because cdw showed animation studios new ways to maximize their infrastructure,

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u.s. sports gambling has, of course, exploded and it's growing bigger. now u.s. operators are eyeballing a new market. brazil. today is the deadline for the gambling companies to apply for a mobile sports betting license. among those looking at the profit potential in brazil. it could be a $5 billion to $6 billion market in a few years. let's talk more about the potential for brazil with bernie, senior analyst. great to see you.

>> nice to see you as well. >> how does brazil factor into the plans for the operators who, let's face it, we heard from flutter, which trounced expectations last week. on the earnings call, you had the ceo taksay how important th u.s. is for them, but they need the cash flow to fund brazil. >> brazil is the larger legislation push in latin america right now and certainly with 215 million people in the re region. it is a big gamingterritory. it is a larger opportunity on the per capita basis in sports betting. it is a low tax rate. the only difficult thing is there is a lot of competition. that's why one of the things we prefer to play this announcement would be the pick and shovels way and genius sports or sports radar. it will be a highly competitive

area when toronto launched with the great market operators will have a leg up and not everyone starting at the same starting line. >> it is interesting you mentioned that. i was speaking with folks in brazil yesterday and they were talking about what is coming down the pike. it is what is known as a gray market. people are already gambling there. it's baked into the culture. what happens on january 1st is brazil will start reg regulatin and more protections on the gambling fplatforms. fl flutter applied for the license. the ones that are operating -- entain, the co-owner of bet mgm. you have sporting bet is the brand. mgm resort will launch bet mgm

as a stand alone company. it won't partner the way it does in the u.s. how who you partner with matters? >> there is a local partnership requirement here which is important. you mentioned bet mgm. they are partnering with a local media company. that is similar to the sports betting and spots media. certainly, it matters who you are partnered up with. in the behemoth as bet 365 is one we have to watch out for as well. i'm interested to see what draftkings is doing. on the earnings call, they would be less likely to do it organically. i would not expect them to apply for a license while the u.s. market is still half of the

country has access to sports betting. there is still a massive opportunity here in the u.s. that's one of the things we see draftkings do is narrow down the focus and core operations here. not saying brazil is not on the table eventually, but a longer-term opportunity through m&a than applying for a license today. >> we have seen the total addressable market estimates change for the united states. what do you think it is now? >> i think in '24, it will be a $21 billion market. by the time you get to '27, no additional state launches, you could be looking at $30 billion. one of the amazing things draftkings talked about on this call, first time was 30%. it shows this is really the u.s. sports betting market is still in its infancy. one of the things i mentioned with sports betting and sports media, it is really sports

betting becoming more mainstream and that's what we're seeing here. that's one of the big debates on dr draftking stock. >> really the u.s. is the primary growth engine for these companies. bernie, nice to see you. thank you for joining us. >> thank you. coming up, no summer break for the markets. bob pisani lays out what iths e most quiet trading periods. usually. we'll be right back. logistics . you need them. they need a retirement plan. work with principal so we can help you with a plan that's right for your team. let our expertise round out yours.

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coming up on 5:30 in the morning here in new york and still a lot ahead on "worldwide exchange." on deck, lowe's will report in 30 minutes. we see what it will signal on the health of the consumer. results are set to be a key driver for the market today as the s&p and nasdaq look to stretch their win streak to nine straight sessions. and vice president kamala harris sheds light on her economic agenda as the democratic party faces a fight to shape her policies. this is tuesday, august 20th, 2024. you are watching "worldwide exchange" on cnbc. welcome back to "worldwide

exchange." i'm contessa brewer in for frank holland this morning. let's pick up the half hour check on the u.s. stock futures right now and we're seeing they are trying to hang on to gains from yesterday. the s&p 500 implied higher by 5 points. the dow jones by 12 and the nasdaq by 36 points. let's take a look at the biggest pre-market gainers for the nasdaq 100. palo alto and advanced micro. a you've got crowdstrike up more than 1% and lululemon higher by 1%. i checked on the price of gold. it closed at $2,531.30. the highest settle ever after touching a record high of just under 2,550 earlier in the day. it is up .2% to $2,561.

turning back to stocks. the rally coming among the lightest trading day of the year. bob pisani has more. >> the last two weeks of august are a snooze fest with many traders on vacation, but two powerful trends are converging to lift markets. first the s&p 500 is up eight straight sessions. the longest win streak since november of 2023. it's up about 7% in the eight days. the strongest eight-day win streak since march of 2003. many stocks have been advancing since august 5th. it happened yesterday. three stocks advancing for one declining at the new york stock exchange. for most of the year, tech led everything, but recently defensive stocks have been strong like healthcare and consumer staples. as rates have declined,

utilities and real estate have been rebounding. finally, economically sensitive stocks like banks have also been rallying. why is this rally broadening out? the soft landing is still in tact. there is slowing, but job growth is strong. the fed is expected to begin to cut rates in a few weeks and earnings have been stable with pricing pressure. that's the soft landing. perhaps, equally important, the volatility in august caused an unwind of crowded trades including the yen carry trade which may make the markets less volatile. can this continue? the last time we had a nine-day win streak for the s&p 500? november of 2004. that would be a milestone. back to you, contessa. >> bob pisani. let's get a check on the

corporate stories with silvana henao. good morning, silvana. >> good morning, contessa. kroger is suing the securities and exchange commission seeking to block the agency's case for the merger with albertson's. the use of the inhouse judges amounts to overreach. the federal government rather than the ftc system is the appropriate venue to argue the merits of the deal. the ftc and several state attorneys general are seeking to block the nearly $25 billion merger saying it would hurt competition and push food prices higher. alaska airlines proposed merger with hawaiian airlines has cleared a regulatory hurdle with the justice department. last week, alaska agreed to extend the review period for the $2 billion deal which has expired. the department of transportation has to approve the transaction

and if completed, this would be the first merger since 2016. and harley-davidson is the latest company to make changes to the diversity and inclusion efforts following pressure from activists and conservatives. in a letter posted on x, the. >> caller: is company is lookint growing motorcycle sports and retaining our loyal riding community. harley says employee training will only be related to the needs of the business and won't include socially motivated content. conse contessa. >> thank you. lowe's will report at the top of the hour. investors have muted expectations after home depot cut guidance last week and said the demanded for home improvement would remain under pressure. same-store sales are expected to fall for the fourth straight

quarter for lowe's. let's bring in michael baker at d.a. davidson. michael, when we are looking at lowe's, i don't know, maybe it is the pro business that matters and sets it apart from home depot. will you expect any departure from lowe's than what we saw from home depot? >> not really, no. in fact, we are projecting or thinking that lowe's will miss estimates in the half hour and probably guide down in the back half of the year. expectations are low. i don't think that would surprise anyone. that's what happened with home depot. we expect same-store sales to be down. more than they were last quarter. >> it is interesting because last week when we got reassuring data in, the story line that he merged was one of a resilient american consumer. is it just they are not willing to put their money to work in their homes right now?

these big price tag projects are being put on a back burner? >> big price tag projects that are interest rate sensitive is what is hurting. the stock has done pretty well although the numbers haven't been great. that's because i do think there was an expectation that rates would come down. that isis typically a good environment for lowe's and home depot. the stock will anticipate that. if we can get theworked out, th help their business. the big ticket items have been down. it is interest rate sensitive projects. >> i hate asking analysts for the predictions. half the time we are all shrugging our shoulders why the stock is moving the way it does does.

in this case, they are pulling for what the lowe's reports may indicate? >> last tuesday, home depot missed and the stock has been up every day since. i think it is less about the numbers this quarter. it is more about the expectations on rates and how that impacts the sales, probably not this year, but next year. we think the stock will react to that. >> this this case, lowe's outlet calls for improvement in the comp and margins in the back half of the year. why? >> the answer is easy comparison. we would not buy that. we think they will lower that second half outlook. again, i don't think that is unanticipated. in fact, the consensus estimates are below guidance on the operating margin line. we think there is risk to the back half. >> the earnings coming out in 20 minutes. we'll keep our eye on that.

michael, thank you for your time this morning. >> sure. happy to do it. coming up, fresh love for palo alto networks and wave of earnings. that's next on "worldwide exchange."

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to 355. barclays going from 350 to 370. jpmorgan going to 387. one more for you. bernstein raising palo alto network price target from 364 to 399. daiwa downgrades jpmorgan. upside in the stock appears to narrow the performance by jpm shares over the past two years. let's get to the global briefing. sweden's central bank is cutting the key interest rate for the second time this year. the bank signals it will lower borrowing costs again as the struggling economy threatens the inflation below the bank target. secretary of state antony blinken is in egypt after announcing israel accepted a bridging proposal on the cease-fire. blinken is set to hold talks with the foreign minister after

calling on hamas to agree to the terms of this particular proposal. and china's youth unemployment rate hit a new milestone in july crossing 17% threshold for the first time since the record keeping launch late last year. that is a jump from a little more than 13% in june and adds to concerns about china's overall economy. ahead, the one word every investor needs to know today, plus the fight over the harris agenda. the internal battle facing the democratic party and what it mes r anfoturnout in november. "worldwide exchange" changes after this. el the power of osteo bi-flex®. ) el the power of osteo bi-flex®.

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what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. we're looking at the 2024 race this morning and vice president kamala harris shedding more light on her economic agenda. she is calling to raise the corporate tax rate to 28% if she's elected. harris reveals that proposal ahead of the surprise appearance at night one of the democratic national convention which found her current boss using the event to pass her the democratic party torch. megan cassella is joining us from outside the dnc in chicago with more. good morning, megan. >> reporter: good morning, contessa, from chicago. a city that is just waking up or still sleeping or just going to bed after a late night. the programming went to 11:30 p.m. here.

far later than expected after midnight on the east coast. it was a celebration of democrats. the focus was "for the people" which was a celebration of the working class and standing up for unions. we saw a array of union leaders. we saw gina raimondo say in the rally cry that kamala harris is for the people while donald trump is standing up for himself. the highlight of the night was the president biden speech. a 48-minute speech. he got a four-minute standing ovation when he arrived. a hero's welcome and several long bouts of applause during the speech. he talked about the recovery since covid when he took office and the high stock market and spun it forward. he said kamala harris and governor tim walz are the ones to carry the agenda forward. here's what he said. >> kamala and tim will continue to take on corporate greed and bring down cost of food.

they'll keep taking on big pharma making insulin $35 a month. not just for seniors, but everyone in america. >> reporter: that pop ulist thread is interesting. shawn fain was wearing a t-shirt saying "scab." we heard from liz schueler. taking on corporations is the way to go before november. take a listen. >> this election is about two economic visions. one where families live paycheck to paycheck where people have no right to join a union. a ceo's dream, but a worker's nightmare or an opportunity economy where we lower the cost

of groceries and prescriptions and housing. >> reporter: obviously, conte contessa, a big focus on the first night of the populist agenda that we did see harris begin to layout on friday. contessa. >> i think the headline today, certainly, the hike in the corporate tax rate to 28% was something that when trump tax cuts passed, we heard about it on earnings calls that corporations were enthusiastic what it would mean for them and profit margins to see the lower corporate tax rate. we also heard president biden talking last night about how the chips act had delivered more to red states than blue states with the way that the grants had been passed out. how much did you hear last night where the economic headlines were driving the narrative? >> reporter: a fair amount. especially for this first night. i'm not sure how much that will continue throughout this week, but especially on this first night, there were a lot of

economic themes driving the headlines. what i think it is interesting about the points you brought up, the policies are scrambled. some republicans in congress are not opposed to raising the tax rate somewhat because they recognize they need to pay for the agenda. on the chips act and inflation reduction act, because so much money is going to the red states, we are seeing republicans say please don't dismantle this legislation if donald trump wins next year. we are going to see dig and take between democrats and republicans on the key issues you mentioned. >> megan, great to see you. great work out there. coming up, the rally risk. why our next guest says patience is key when e rkthmaet is hitting record new highs and we will be right back.

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welcome back to "worldwide exchange." time for the "wex wrap-up." palo alto rising after the company beat forecast and gave company guidance. shares are up 2% in extended trading. it touts the platformization strategy. and edgar bronfman is offering $4.5 billion for paramount after skydance media

reached a $4.5 billion agreement last month to acquire paramount. paramount is up in extended trade. boeing says it paused test flights of the 777 planes after damage found in a portion of the aircr aircraft. reuters reports the faa will require inspections after a mid-air dive reported in march. the elon musk pro-trump pac is hiring canvassers in the battleground state of north carolina. trump offered musk a role in the administration if he is elected. trump is considering getting rid of the $7,500 ev credit. let's get a check on the trading day. futures right now looking to

open in the green across the board. let's take a look here at the implied open. now we're mixed. we have seen the dow move lower. implied opening down 15 points. the s&p 500 and nasdaq are opening in the green. jay woods is joining us. let's get ready to rumble. you say the word of the day is afterstocks. >> yes. we had a nice streak. a nice rebound from the august 5th low. what happened on august 5th? the vix hits 60. the third highest rating on the vix ever after 9/11. we are still going to see what happens with the fed minutes in jackson hole. traders are on edge. people are on edge. i think we're still going to get that rumble effect after the 5th. >> we had nine straight up sessions. why are we still talking about

the jolt fear that was injected almost two weeks ago? >> a lot of events happened to cause that fear. warren buffett selling apple. no one saw that coming. the yen carry trade. harris lead in the polls. an a lot of little factors. it's still out there. nothing has changed from septem sentiment point of view. i think we're in a secular bull market. august and september, we're down the last three. it is the roughest patch for the markets. if people think we had this nice win streak and it's all clear, no, there's a lot of chop in the next few weeks. >> how much do the words coming out of jackson hole matter with the volatility in the equities? >> they matter more than ever. we put everything under a microscope with what jay powell

has to say. we are not watching just a cut, but how deep? is there urgency to the cut? the last time the minutes moved the market was last month. i've been doing this a long time. no one cares about the minutes. we know what they are going to say. all of a sudden, people are watching every little word for that change. now we're talking 25 or 50. >> okay. now you are seeing the two-year treasury bond yield moving lower on the day down 4%. the ten-year moving up slightly. in terms of bonds and where they go from here, what is your expectation? >> we think the yields should continue to decrease as we are now in that cutting cycle. what people are watching now is for that cut in the mortgage market. we want to see housing start to pick up. it hasn't been there. then when i pivot to see where there's maybe strength in the market and breakouts, people are talking about the election. i think the defense sector, the ita is a great way to play it, is where people want to be.

you saw palo alto networks with a great report. i know krcrowdstrike has been i the news. >> do you think the crowdstrike big dip was an opportunity? >> well, it could take them a while to recover from this. i won't just jump into it. the whole cybersecurity play is in tact. other people will benefit from their missteps. >> back to defense. best in class? >> northrop. >> in the cyber security space? >> palo is looking great. i think right now, you want to nibble in a crowdstrike. the best way to play is it the basket in the etf. >> short-term this week and long-term the second half? >> we will see a lot of volatility. a lot of great headlines for this election cycle. you have given us three today.

by the end of the year, this is a secular bull market. i'll bullish on the direction where we go. once we get through that election, i think we're going to finish this year strong and the small caps will finally rally. i know i've been on the show saying. that i think this is a rally that's going to lift all boats. >> jay woods, thank you very much. i appreciate that. thank you for joining us this morning. let me send it over to "squawk box" right now. good morning. we can still get earnings and we'll get an important one this morning. quarterly results from home improvement retailer lowe's are due any minute. we will bring you the reaction. passing the torch. president biden rallying the crowd at the democratic national convention at almost midnight for his vice president kamala harris. we'll show you what he said. plus, edgar bronfman jr. reportedly submitted arrival bid to buy paramount.

it's tuesday, august 20th, 2024and "squawk box" begins right now. good morning. 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. hello. >> hi. >> we're back together. >> welcome each other back. i was actually here yesterday. >> i know. >> only one day. i was out. >> i haven't seen you in a while. >> you haven't. it's summer. it's august. not really doldrums. >> the kids are on vacation. >> i can give you much bette