it is 5:00 a.m. at cnbc global headquarters. welcome to "worldwide exchange." here's your 5 at 5. jim cramer argues the pause is actually a positive. shares of jd.com gets hammered as walmart puts a stake up for sale. results for target. it could be a catalyst, offering a fresh look at how strong the consumer really is. plus, the harris 2024 war chest just keeps ballooning.

we get a better look at the people shaping her agenda. and a look at one of the richest men, arnault is putting his money to work. it's wednesday, august 20th, 2024, and you're watching wealth right here on cnbc. ♪ good morning, thanks for being with us. we kuc off the hour with a check of u.s. stock futures. take a look. as we mentioned a bit of a flat opening or at least the futures picture right now. take a look. the s&p up fractionally. the dow opens 52 points higher and the naz flat across the back court. the dow's win streak ending at five in a row. since 1971 all the way back to

1971 when nasdaq data began, the indexes hit eight straight days of gapes only 14 other times. it's only gone in nine straight sessions of wins four other times. take a look at the nasdaq year to date. up over 18%. >> we a also have a check on the bond market as we await the minutes from the fed chair meeting later today. the benchmark yield about 3.81. well off its highs of a month ago. it was over. 4.2% just about a couple weeks ago. right now 8.1. important to note, the 30-year back above 4%. we're also checking in on oil coming off three straight negative sessions. the union side moves on the back of new u.s. supplies data and developments amid mid east talks. the wti trading about 73.25 a barrel. brent trading at about 77.25 a

barrel. that's your money morning setup. let's get to more. dan murphy with much, much more. good to see you. >> good to see you as well. to character rise market sentiment, i would say markets here are looking for a catalyst. as we pull it back and give you a live look, you can see here the reaction is mixed to negative at best. london's ftse is holding onto gains after a significant decline yesterday, be only up 0.12%. across europe we have seen stocks trading pretty lackluster after we saw wall street hitting the brakes on its longest win streak of the year. let's pull it out and give you a look how the sectors have been reflected. we're seeing basic materials really being a driver today as well. mining and material stocks standing up.

oil prices rising for a third day in a row. gold outperforming as we see the usd sliding against the euro and yen. consequently, o ill and gas pulling weaker. they're leading the region higher than by almost 1%, frank. with that, it's back over to you. >> dan, thank you very much. this morning we're watching shares of jd.com. they're getting hit hard in asia, this after walmart confirmed it's selling its stake. jp, good morning to you. the shares weighing on the markets there. >> absolutely, frank. while we did see them fall off the cliff, you can't say the same for jd.com. we saw their shares surge. again, related to walmart, confirming they are selling that stake. we have to look at the numbers though. remember, walmart is selling this for about $24.95.

that's still below jd.com, which means it could have a ways to go. the other question, why is walmart selling at such a heavy discount? is it because they're doing well? the last earnings report doesn't show them in dire straits but they could be souring on the partnership with jd.com. they would continue to work with jd.com as a partner, but they might put the $3.7 million to bolster their operations in china. it's happening when you're seeing the price war intensifying, ooh e roading margins, and making it more difficult to compete. take a look at retail sales in china recently. you'll see its decline quite consistently. our colleague here had a very interesting piece on the website about how young chinese are actually conducting what they're calling revenge saving which means the consumer confidence is at a very low level which could mean the outlook is quite bleak

and also why companies like jd.com might suffer in the near future. that could be one of the reasons why they took a hit and why walmart is heading for the exits. frank, good morning. >> good morning to you as well. taking a look. the premarket in the u.s. down 7% as well. back hoar in the u.s., the major indices looking to get their recent rally back on track this morning, but our jim cramer says tuesday's pullback marks a sensible move within the recent market action. >> we're not having one of those boring openings and then takes your brecket away and causes people to run for the hills, get out now. i don't see the recklessness and greed abound to the top. the bottom line, we're getting back to reality. good is good and bad is bad and never the twain shall meet. for much more, rhett let's bring in ben emons, fed chief. good to see you. >> good morning.

good to see you. >> cramer says the markets are turning much more rational. what's your take? we have the jackson hole meeting coming up. >> jim may be right. we had a huge move from the low. really, frank, if you saw it in early august, it'sing are normalized and reflective of where the economy is and earnings are. we honestly have to get now, i guess, a combination on friday that they're going to cut rates. i think the fed minister will talk about that. i think we'll hear from powell on friday, okay, we're really a at the stage we can cut rates and we're going to do it. i think it's getting a pause at the moment. >> you're kind of leaning into the question i want to ask you. you get fed minutes coming up. of course, the fed minutes are backward looking. we hope to get forward guidance

from jay powell. how does the market work especially during this week when in all fairness it's really low volume? >> yes, it is low volume. it's typical in august, but i think what the market will do today is look at the fed minister, it's the debate, the rate cut on the table. i think people are trying to get out of the minister sort of a signal is there an idea we're not going to just cut rates once but several times and then it's powelled from wondering when it will get started. we still have to hear from him, i think, really confirming the guidance, in between you're getting this low. you can't expect too much of a movement here up until the jackson hole speech. nonetheless, it's not a market that's going to be back to the volatility time. >> all right. so you're kind of saying you can't 100% some of what you're seeing. want to put some numbers to

it. yesterday if you looked. both trading at half the day movi average. if this is a low volume situation and we can't trust it 100%, what do you think about the momentum trade that resparked in recent days? do you think that's a little more wobbly thant looks. eight-dane, that's hard to argue with even with lowolume. >> true. the momentum gotk faster quicker an we thought. it has to do with the data we got in between, whether it's good data. as jim said good news hacome good news. that has sparked the momenm e. i don't think that will change unless w data print again. the only date that'sevant is joblesclaims. see to be wre bac much more of an average level we had previously. now, i want toaknote one th. this mningt 00 a.m., we t t th major

weakening, therefore, that momentum stays in place. >> ben emons, always great to see you. thank you very much. for much more on ther to cn exclusive insights andg the ones need to know today. but first, target, the numbers you need to watch and what they could signal about the broader retail and signal dep e should you put your earnings. andsik

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who dismissed the proposed class action should have determined whether reasonable chrome users consented to letting google collect their data. google hasn't commented on the case. meanwhile a federal judge in texas striking down a biden administration rule that would ban noncompete agreements. the ftc says they do not have the authority. that rule was to take effect next month. and crowdstrike is hitting out at what it calls shady, efforts by rivals to share customers since a bad software update caused an outage last month. attempt by competitors to use a disruption for their own products is misguided. they couldn't guarantee their own software would never caught a similar incident.

crowdstrike has shared a quarter of its market value since the tech outage on july 18th, frank. >> pretty dramatic drop. silvana, great to see you, thank you very much. moving on to an earnings report coming up later today, target reports just about an hour from now. walmart's report last week reported it's not falling off a cliff. investors are not expecting blowout numbers from targets who have been losing customers to values like walmart, target, and amazon. thank you for being here this morning, especially in studio. always good to see you. >> thank you for having me. >> you're positive in the long term. in near term, you're neutral due to a bigger discretionary mix. i'm looking at the numbers. apparel, home furnishings and

others. where do u you expect to see the weakness? >> apparel still not doing great. there have been more green shoots as they've gone back to work. trousers, consumers buying some of that. it's still not the number one in their list. in target, where i see strength continually is the beauty department and food and home essentials. >> so we're showing some of the stats here, the forecasts for the quarter. same-store sales expected to increase by 1%. that's not eye-popping. but for a very mature business, isn't that still very good? >> that i've been doing better due to operations and running better inventory. their inventory continues to be online and they've been strategic. so have their prices. obviously they've had some bad quarters previously. the increments though small are notable. >> all right. where is target when it comes to

back to school? walmart gets 50% of its revenue from grocery. a lot of people kind of make it -- it makes a lot of people think it's a more stable business because people are always going to buy more food. does that mean on the other side that target is more leveraged to have a big sales bump because it's more, as you mentioned, apparel, other things that are more discretionary. in all fairness there's discretionary in electronics. >> in back to school they always have a strong assortment and try to suit the consumer with whatever it is they're going the need. walmart is 50% grocery. they've started to become a one-stop shop for all. target is a favorite for discretionary. it's the small luxury people like from target. that's their upper hand. >> as part of your notes, beauty is part of the spending and you highlight ulta and shopify.

how do i view this? target basically broadening out? walmart has done the same thing. >> ulta, it's done well. if you walk into target that has ulta as well as the website, you find unique items you wouldn't find. in general, the dtc brands they've brought in are all very modern. if you walk into walmart, all new, very modern, very close to where we are today on hair, face, what not. in terms of shopify, they still haven't handled how products are going to be in their own marketplace. walmart has absolutely everything. you can grab all. with target, they're very particular, you have to qualify in order to be there. with shopify, they will be hand

picking products and will have them in stores. that gives them the upper hand of i know these brands, i can come. you have brands that the customer tends to trust. >> looking at target shares. up ahead. jess, always great to see you. >> thank you. coming up on "worldwide exchange," the ai approach of one of the world's richest people here. our robert frank is here. e he's going to bring us the latest on bernard arnault. stay with us.

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welcome back to "worldwide exchange." peon say is teaming up with tennessee hen see on a whiskey in honor of her grandfather. it will go for about 89 bucks a piece. it will be availability starting next month. lvmh's sephora brand isiquetting 10% of its brand in china. bernard arnault is looking for opportunity in a new spaceful artificial intelligence. robert frank joins us now where where arnault is putting his money. great to see you. >> great to see you. arnault's family office has invested in five ai startups this year. that's more than any other

investment category for that financial office. according to exclusive data from fin trix, the arnault family was part of a $220 million brand called h. they're working on general ai and was founded by former members of google's deepmind ai product. arnault also invested in lamin, in proxima. others includeborderless ai and photoroom, the ai image editors. the dollar basis is not disclosed since family offices are not required to disclose those investments. but arnault worth $190 billion has a long history of betting his own money on tech. he was an early investor in netflix, in spotify, and airbnb. not all of his tech bets have paid off. he said he invested in 75

internet companies during the dot call boom and, quote, some of them made it, some of them didn't. ai is now the major investment category for family offices. 78% of family offices plans to invest in the next two years according to a survey from ubs. for more on how they're investing, you can sign up for my inside wealth newsletter at cnbc.com/insidewealth. that's cnbc.com/insidewealth. frank? >> really good story, robert. a couple of things i thought. he's investing in two french ai companies. i though it that was interesting. you don't hear a lot about european ai. overall, how big of an impact could they have when investing specifically in startups? >> yeah. you're exactly right on the startup front. you know, ai, if you divide it

into two broad categories, we had the massive mega tech companies investing tens of millions of dollars a year, and all of these startups working on applications of ai to certain categories, that's the area that the private companies that family offices have become some of the top fund razers for. family offices as a whole contribute $6 trillion in wealth. and the numbers of family offices have tripled since the pandemic. so it's a massive amount of funding, and all of them right now -- i talked to a lot of them. are just obsessed with ai. i have a story on inside wealth about jeff bezos who has invested all of this family office this year when it comes to private investments into ai. so the big family offices, the small family offices, they're putting all their bets or many of them this year on ai, and given their size, i think they're going to be big players at least on the private unicorns we're now seeing in ai.

>> robert frank, great reporting as always and great to see ou. as we head to break, checking on shares of netflix, looking at the first record close in three years. over the last three years, up over 27%. the streaming giant says it had more than a 150% jump in ad sale commitments compared to last year. take a look at netflix. flat. last three years, up jt ouusabt 27%. we'll be right back here on "worldwide exchange" in just a moment. it's just about 5:30

new york. futures are higher as wall street looks to start a new streak after ending its eight-day run. home depot and lowe's, companies with very similar stories. our investor panel weighs in. with kamala harris still in flux, who has her ear? it's wednesday, august 221st, ad you're watching "worldwide exchange" right here on cnbc. and welcome back to "worldwide exchange." i'm frank holland. thank you for starting your da i was we ooher going to pick up with a check of the stock u.s. futures. take a look at futures right now. you can see how it's kind of a

mixed picture right now. take a look. the s&p up fractionally higher. the dow looks like it would open 46 points higher, the nasdaq down 13 points, fractionally lower. take a look right here. keysight technologies, the biggest gainer, shares up almost 12%. target, shares up almost 2.5%. corning up about 2.25% as we look at the premar get gainers. we also check on the price of gold as it continues to touch at new record highs closing at 2,550. take a look right now. you see gold pulling back a bit. fractionally lower. year to date, just about 23%. that is your morning money setup now. i want to turn our attention to some parts of the market now. lo lowe's reporting second quarter

results. both home improvement chains saying customers are spending on big ticket products including high interest mortgage rates. they're expecting bigger do e cl declines later this year. shares have dipped. let's get a take from two investors. jason snipe, a cnbc contributor. and jason, good morning. good to have both of you jasons here. jason, i'm going to start off with you. up 6% in the earnings, beating the market by about 5%. were you surprised by that reaction? >> not too surprised. i mean, look, both of these stocks have been, you know, trading in a difficult fashion, given the correction in housing. we've seen a slowdown.

we have to remember we're coming off a big bulge in demand from the pandemic. stock we owned was growing, revenues north of 20% in 2021. this is a company that prepandemic was doing more in the 6% to 7% topline growth. we had this big bulge. we've seen this hang over on the other side. repair and remodel has slowed down. look, these companies have been challenged a bit. i think the reason we're seeing a reaction is they're both trading, i would argue at a reasonable valuation relative to its growth, relative to history. and, oh, by the way, we had the fed likely beginning to cut rates next month. that has a bit of support for these stocks. i think investors are starting to position themselves ahead of the fed rate cut. >> jason snipe, over to you. jason said we're expecting fed cuts coming up and cuts in the future. i was surprised to see it fall

and you have the potential of tailwinds coming up. >> yeah, frank. i think jason pointed out a lot of great points. the easing cycle is about to begin. you know, these stocks have traded basically in unison over the last few quarters. you know, lowe's is slightly up year to date. home depot is up around 6%. what i will say going forward, i think the total strategy is the strategy for lowe's. the reason why we like lowe's here is the incremental buy for the the pro-segment. digital strategy that's starting to see some positive numbers going through, coming into earnings. so for me as we walk through into the earnings cycle. 90% of owners or customers, i should say, of lowe's are homeowners. i like this play going forward.

yes, they've been difficult stocks to jason's points, do it yourself names. going forward, i think there's a lot of upside. >> jason ware, i'm going to come back to you. i want to touch on what jason snipe said. lowe's is more leveraged to do it yourself. on home depot, more leverage to the pros. with this in mind, how do you see it shaping up going forward? mortgage rates remain elevated. which one of these companies do you think has the bigger benefit of that reduction possibly in mortgage rates and do you see it picking up in a very meaningful way? >> that's a great question. i think jason makes a great point about lowe's ability to gain additional positioning within the pro category. that's something that home depot has been doing for a better part of the decade. they've been focused on growing that pro space.

contractors typically spend more. that i visit the stores more often. i think they have the right strategy. i give them a lot of credit. they're getting close to home depot in terms of operating markets. no love loss there. as we look at home depot, what we like about home depot really is their efficiency per square foot. this is a business that compared to lowe's is doing aboutle /* 80% more revenue. they only have 30% more stores, so we think the on raying efficiency continues to demonstrate pretty sound management. to your point about interest rates, it's hard to say which one benefits more. i think in some ways they're tied at the hip. obviously sometimes when we do home improvements, repair remodel, sensitive things, rew e model the kitchen, it costs 30 grand, you hire a contractor to do that.

they might go to home depot. i think we'll see both of these businesses benefit. but we continue to prefer home depot in terms of just its ability to grow in scale. and they've done such a great job. they've made big investments in the business. >> jason snipe, back overto you. you talked about home strategy. it leans a bit. do you see the consumer discretionary reaccelerating? >> i do. i do, frank. i think that the issue obviously has been for both stores is the big ticket items. obviously there's been some slowness there, but when i see interest rates coming down and obviously moving into an easing cycle. i think that will free up some space for to consumer. again, when i look to lowe's and the incremental growth and the catalyst going forward, i think that i can continue to improve

market share and gain in the pro segment, which is growing in the mid signal digits. both great companies, both have struggled a little bit in the near term, but i think this is the reason why we like lowe's slightly better than hd going forward. >> we're almost out of time. jason snipe, i'm going to stick with you. the elevator pitch, if you're buys lowe's shares, what are you buying? long-term benefit? what do you think you're getting? >> i think we're buying a long-term growth. i like what he's doing with the digital space and really optimizing and working on their operational markets, which i think are improving drastically since his tenure at the company. i like the management team here and i look their strategy going forward, that's why we like lowe's. >> jason, same question for you. when you're buying home depot shares, what do you think you're buying right now? what's the investment thesis, i should say? >> jason, look, you're buying a

long-term growth story. we're still bull usual on u.s. housing. if you look at the gap between supply and demand, we have to fulfill 2 million homes. that's going to take many years to fill in that population gap. a lot to like in terms of home building and repair and remodel. both of these businesses benefit with that. in the near term, there's something to be optimistic about that relative to the market and also in the context of are interest rates coming down. with the fed cuts, we're probably not going to see that. some of these stocks will be beneficiary. both medium and long-term, we like home depot. we like the home depot name as well. >> thank you, both. great to see you both. coming up on "worldwide exchange," better days ahead. the signals that has texas instruments upgrading.

"worldwide exchange" coming up in just a moment. 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.

welcome back to "worldwide exchange." we start with texas instruments moving into a buy in 235. citi citing lower capex and margins bottoming during its capital management call yesterday. in a downgraded stock we were discussing yesterday, lowe's. cutting the price from 280 to

275. it cites pressures around do it yourself home repairs. loop says while they expect solid results, they want to e soo how the ai story is evolving. time for your global briefing. the u.s. and chamber of commerce are worrying about a stoppage. canada rail could be off the job tonight as the chamber calls on the canadian government to step in on that matter. and reuters is reporting that the $8.5 billion merger of reliance and disney talks about the decision. coming up, we have the one word every investor needs to know, plus shaping the economic policy of the harris white house. the dnc insiders and private

sector players moulding that agenda. we have much more when "worldwide exchange" returns. stay with us.

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million amount by the end of this month. she has more on hand than trump's 327 million. this comes after harris was formally nominated at the dnc yesterday. a number of high-profile marketers making the case for her last night. we're joined outside the dnc in chicago. good morning. >> good morning, frank, from the united center where there's a morning after energy here. a lot of energy on night two of the democratic national convention. the main official happening last night was the roll call with each delegation casting ballots for harris. there was a real spectacle. each state played its own background music. when that i got to georgia, lil jon came out and leading the crowd in a chajts "we're not

going back." then the official speeches started going. there were back to back speeches by michelle and barack obama, really a hometown hero sort of crowd coming back to chicago. michelle talked about how hope is making a come back and she made a direct shot at republicans who have been criticizing the republicans as they've been calling it. barack obama then spoke and he spoke about the vice presidency and he talked about the 78-year-old billionaire who called, complaining about all of his complaints for the last nine years. take a listen. >> from a guy who'sse act, let' face it, has gotten pretty steal, we do not need four more years of bluster and bumbling and chaos. we have seen that movie before, and we all know that the sequel is usually worse. >> there was also some economic

focus to the evening. ken chenault, the former ceo of american express came out to talk about business and democracy, saying the two are linked. he criticized a few of trump's policies. take a listen here. >> unlike her opponent, she knows way not to build an advanced economy is a broad tariff that would only raise prices, hurt consumers and businesses and cost jobs. >> now, frank, what was very clear last night, throughout the evening up until president obama's speech, very little about biden. they were celebrating the new ticket last night here in chicago. >> megan, i want to go back to what you were saying earlier. her new developments on agenda. do we know who's shaping agenda? >> it's been a mixed bag.

we do know who's behind those, the campaign hired brian dees, and obama and biden administration alum who has some experience from blackrock but was behind the hiring of lina hahn, i'm told. gene spurlling, a longtime veteran. but then there are some folks with private sector experience. i'm told that harris's brotherly tony west from uber, the chief legal officer from uber but has capitalist startup experience is that's helping with her views. and so there is a mix here. it's not just progressives and moderates. we're seeing a little bit of both. >> thank you. great reporting always. coming up, not done yet. why markets haven't peaked.

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when you add one unlimited line. plus, get a new google pixel 9 on us. bring on the good stuff. welcome back to "worldwide exchange." time now for your w.e.x.

wrap-up. jd.com getting hit hard, selling a stake in its e-commerce giant. walmart told cnbc it wants to focus on its china operations. >> google must face a revised class action lawsuit. clients claim they chose not to singe their browser with accounts. a judge tosses the ftc rule saying it doesn't have the authority to maintain efforts. crowdstrike hits out at rivals. the software update caused a global tech outage last month. they said attempts by come pet tors using that outage to control their own -- toll brothers lifting its

full year guidance and bloomberg announcing sephora's brand is cutting in china. the company tries to stop its losses in china. here's what to watch today. weekly mortgage app indications are out at 7:00 a.m. eastern time. we get earnings from target, macy's, t.j. maxx, and zoom. this is ahead of the 2 p.m. policy meeting with jay powell. futures right now have been looking all morning lock kind of mixed. you know, two twof the indices fractionally higher. the s&p basically flat, but just fractionally lower. we've seen the nasdaq take a bit of a downside move. before it was down 13 points, now 14, 15 points. let's bring in our next guest, courtney, a cnbc

contributor. always great to see you. >> good to be here. >> how do you see the day shaping up? what's your w.e.x. word of the day? >> the w.e.x. word of the day is breadth. a lot of it is due to the fact we're shaking off any of the never usness of the economy going into recession. the economy has continued to show it's on good footing. you're seeing 80% updates in nasdaq stocks, but on top of that, you're seeing higher advanced decline lines in the nasdaq, and you're seeing the broader markets doing well, meaning breadth. that's a much better sign you can continue to see this momentum going forward. you're not going to see just seven companies but the entire stockmarket doing well. that's what you're goingto continue to see here. >> i think you and i are in agreement, we're seeing a huge move when it comes to momentum. at the same time, it's been low

volume. yesterday we saw the s&p and qq qtrade half of their third day moving average. just a low volume period. do you feel you can trust this momentum trade right now considering there's not a lot of people participating? >> you know, august is typically a low volume month. i don't think that's anything to be concerned about. but i would actually point to the fact that all of the data has continued to support the moment. if there's nothing to support it, just purely on low volume, that could be more of a concern. in early august when you take up to 43%, you think, uh-oh, are we going into recession? a, that was probably an anomaly, b, that was probably due to people entering the labor market and that layoffs happening and pro more of it was due to end line carrying. data showing we were going into a recession would be concerning. as long as the data supports it

and it's leading to a more and more likelihood the fed is going to lower interest rates next month which is going to be supportive for the markets leads me to believe that, yes, its ooh is something you can trust. >> we've got fed minutes later today and we're going to hear from jay powell. in the in between time, how do you see the markets reacting against backward looking fed minutes and we're expecting jay powell to give us insight leading the into september's meeting? >> i think the fed minutes are less important than what powell is going to be saying. all ears will be what he's saying on friday. but i think up until we actually hi see roy their policy is going to be in september, you're going to see some sideways trading here. markets are trading at a cut. the question is going to be how big the cut and what's happening moving forward. it's pretty widely expected the rates are coming down this year. the question is how much further are they going to come down? i think as an investor, you do want to be prepared for the

possibility rates may come down, but they could stay at higher rates and they have been over the last decade. i don't think we're going down to the levels we had been at. rates may stay longer relative to where they were. >> all right. may stay longer relative, but we are expecting a cut. i want to get to your picks. hav have it /* vistra energy, why do they make an impact? >> it's going to be one of those all-hands-on-deck names where the entire energy sector is having a huge supply and demand con strangt. it's exacerbated with artificial intelligence. there's not a chance to get it to where they want it to be. this is where you're going to see the names continue to do well and that pressure is not going away any time in the near future, so there's a lot of different names we like, but i don't think anything in the

energy trade is going away and it's absolutely something. courtney, always great to see you. thank you very much. one more quick look at futures. head over to "squawk box." we've been talking futures are kind of flat, kind of mixed. taking a look at them, we're going to show them to you in a second. looks like the dow would open about 40 points higher. "squawk box" starts right now. good morning. dow futures, they're not doing anything really. slightly higher open. yesterday we were expecting maybe one of those quiet mornings and then a melt-up, and it didn't happen. it broke a streak of gains. but we are preparing for a flood of fed speak and the jackson hole symposium. details are straight ahead. a federal judge blocked the ftc's ban on noncompete clauses. is this good or bad for us, becky? i think it's bad, isn't it? >> i don't think it matters for

us. you've got a contract. it's one of those issues. this is one of the few things the ftc is doing -- >> i want to know how it affects me, joe kernen. >> it affects a lot of o people, like hairdressers. >> it can keep us, no matter what. it's nice that they want us. just days before it's said to take it. target set to report. give us an idea. we'll bring you the numbers, reaction on wall street, and an exclusive interview with the man himself, ceo brian cornell. it's wednesday, august 21st. "squawk box" begins right now. good morning, everybody. welcome to squauks right here on