welcome to the second hour of "worldwide exchange"," everyone. i'm seema mody. >> and i'm carolin roth. a july to fert. the biggest monthly loss in six years. gains under their belt possibly for august. linksin reports a $67 million loss in the second quarter and offers disappointing revenue guidance. engines are go. airbus profits are on the way up. feeling good about itself.

soul cycle says it's going blik with an unusual filing that cites its culture of yes and mission to aspire to inspire. all right. we had just had eurozone july cbi number. that came in at 0.2% a year. that was bang in line with expectation. steady compared to the prior month. we're not seeing a reaction in the eurozone right now. inflation stable at 0.2%. far away from the ecb's target. as we saw in the german cpi print yesterday, the energy prices are still weighing on the price level. that is something that the ecb

mentioned in the monthly report yesterday. so as long as energy doesn't bounce back we're not going to see a sustained rise in inflation numbers for the euro zone. >> deflation is something hay have to consider. there was an overlying concern that greece could cast a shadow. not so much. >> it doesn't really. >> the euro holding on against the u.s. dollar. look at u.s. futures. what can we expect on the last trading day of july in we're in for a higher open. at this point, the dow up about 16 points in premarket trade. the s&p 500 seeing up about 1. half of the countries on the s & p 500 has has increases over the past couple of days thanks to blowout earnings from the tech

sperngt the dow up about 17 points in premarket trade. a similar trend here in europe. we're higher on the month of july. on the day, a muted session. the xetra dax. about three points. that's how you can see european equities responding to earnings and the inflation data coming in line can expectations. want to show you what is happening in the bond market. slid yesterday. the gdp print. enough to lift yields in the u.s.yesterday, we saw an interesting rally. people were puzzled. people pointing to the fact that we're seeing month-end buying. in terms of the kurp sicurrency markets, the dollar losing a little bit of strength

overnight. the euro a touch higher. as i said no reaction really to the cpi numbers out of the ewe euro zone for the month of july. in the commodity markets, we're seeing oil under pressure yet again. that really affected the energy stocks. and the u.s. session yesterday, wti crude is down by a whopping 1.9%. getting closer to the 47 handle. brent crude off by 1.4% as well. let's go to sri. we were in the thick of it this month in terms of the volatileity and the delej leverage -- deleveraging in the china market. down about 10%. about 14.3% for the month. the biggest monthly drop in nearly six years for the china markets. i would say the volatileity is

not over. we have some way to go in terms of the deleveraging psych until the chinese stock market. we have wound down a considerable amount of margin debt. it remains at elevated levels. there in lies the risk. i wanted to highlight indonesia. the jakarta composite. it's more a technical rebound. let's not forget that we have been down for the week and also suffered two straight months of declines. for our own singapore market under pressure. bucking the trend elsewhere in the regional markets. off by 1.5%. noble was a drag. especially on the income side the numbers. the weakest in llalmost seven quarters. dragging down the broader

impact. back to you. >> now, u.s. economic growth picked up in the second quarter thanks to rae bound in consumer spending. the 2.3% reading is likely to keep the feds on course to raise the rates this year. business investment remained weak. let's talk about the gdp number with tim cooper global economyist at bmi research. do you think the number will impact the feds regulations before the september meeting? >> yeah it was a very unspectacular number. the unspectacular number we have been used to for the past few yearses. 2.3% growth is not that bad. one of the most important things about the release is the revision to the earlier gdp. the u.s. is growing at a trend of about 2%. you also saw other elements of the report suggesting that the fed is still very much on track to hike. you had prices -- core prices

about 1.8%. it's the default position to expect the fed to hike probably soon. in the future reports, you're probably looking for evidence that they won't. >> the gdp a big part of the fed's decision. but also inflation. that seems elusive given the drop in oil prices. >> they're probably going see a bit more of a drop in the next few months. i think the fed will be focused on the employment picture. they changed a bit of their language. they suggested that perhaps the labor market was tightening in ways they had hoepd for in order to meet the immediate number term inflation number of 2%. i think a fed hiking is happening in the next few months. >> the employment cost index, comes out today, maybe that's more important than the gdp

index. don't you think? >> absolutely right. the next meeting is the middle of september. you have two wage reports. the employment cost index. income and outlays in the next week. if that continues to point in that direction, we're definitely at least a 50-50% change. >> we were talking before. after the gdp print, after the fed statement, we were not any wiser as to knowing when the first rate hike will come. do you think this week, in terms of its release, has moved the needle? >> i think it moved the needle. if you look at the market reaction to the fed's statements, you see two-year treasury yields looking to break up to the high side that's a clear signal they expect yellen and the fed to move. the u.s. dollar. that is suggesting that the market is getting prepared for the rate hike we have been waiting for. >> the fed statement on

wednesday, not what they said but what they didn't say. they didn't mention greece or china. were you surprised? >> yeah bait surprised. i think the fed is focused on domestic conditions. >> they have mentioned them in the past. >> they have. but they omitted other things as well. they referred to labor underutilization being some what declining. they took out the word some what. janet yellen has been outspoken about how they thought it didn't reflect the slack in the labor markets. it suggests that janet yellen was preparing for a rate hike. >> what could derail it? >> the dollar looks strong. and while you know that's not the primary consideration. if that looks like it will move

higher particularly alongside risk in greece. china looks like it will bring down commodity prices further as well. you might see a return to the midsummer fear of the fed. >> some people say that the stronger dollar is the fetdd's way of tightening policy. do you agree? >> that's prue. that's happened this year. it's affected core inflation. i think what is interesting in bond margaretskets, the two-year treasury yield has gone up consistently. there has already been a modest tightening. the fed's guided us to this point by suggesting the rate hike will happen by tendhe end of the year. there is nothing we have seen that suggests against it. they're still angling for that trajectory. >> tim great to have you on the show. come back soon if you want. >> absolutely thank you. >> tim cooper. global analyst.

amgen's profits up. amgen is expecting fda approve of what could be the next big drug, a new cles ralholesterol fighter. up 0.9%. electronic arts first quarter revenue and profits beat numbers. it gears up for one of the most an pateanticipated games of the year, star wars battle front. i know carolin is looking forward to it. >> not so much. not as much as you with. >> ea's outlook disappointed analysts analysts. shares fell about 3% in afterhours trades. linkedin reports a wider second quarter net loss than

expektded. related to acquisitions and expanding the sales team. a 33% rise if revenues was driven by strong growth and the recruiting business. it's raising the guidance. that was much less than analysts forecast. shares fell 3% in afterhour tradesing. on that note with facebook amazon netflix, and google, with youare you buying the fang? join in on the conversation. get in touch by e-mail. tweet us at cnbcwex. which one are you buying or selling? still to come on the show dark times for black gold. as the oil price continues to slide, we look ahead to earnings from energy giants exxonmobil and chevron. stay tuned to hear what to watch

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welcome back. these are the headlines. the shanghai reports a big loss. greek prime minister alexi tsipras said he told the finance minister to prefair for a

grexit but it wasn't part of the plan. soul cycle prepares to go public. one of the big movers today, air bus. the stock up about 6% in the first half operating profit helped by strength in the passenger jet and helicopter division. that offsets the challenges with the military aircraft after a test flight crash in may. the stock up 3%. let's get the full story. hey, stephane. >> airbus announced another charge for the military aircraft. 90 million euros two weeks after the crash in the south of spain during a test flight. it was not expected. unfortunately for the company, it's not the first time. the market seems to be used to it. the program is years behind schedule. the final cost will be much higher than expected. at least 8 billion euros.

170 orders set for that aircraft. they would lose money without additional orders. that said the numbers for the second quarter were strong. managed to offset this negative announcement regarding the military aircraft. a net profit of 5 president. sales on the quarter up 16%. stronger than expected thanks to the high level of deliveries of commercial aircraft. and plenty of positive comments regarding the commercial aircraft division for the air bus 380. even with 30 deliveries a year or less the program will be profitable. they indicated that the company was confident in term of delivery for this type of aircraft this year and indicated that the airbus aims to double the production of the new aircraft 350 this year. it's the one made of composite material. it's the last trading day of

july. let look at gold. given the concerns around the volatility in the chinese markets. gold did not get a bid. many times seen as a safe haven play. you can see gold losing about 7.6%. what else got pressured by the stronger dollar? look at wti. losing over 18% in the month of july. this is a confluence of factors at play here. excess commodity production results in an oversupply of oil and a stronger dollar as well as weakness in china a reason why oil prices have been falling. i want to point out goldman sachs telling us they see wti going up by october. you can see it losing 18% 9% a month. we have been speaking about the currency impact on commodities.

let's look at the euro dollar trade. the number one bang on with estimates. we have been seeing the euro trade in this nape roe outlook. losing about 1.7% against the u.s. dollar. at 109. a bit of volatility as investors try to keep abreast of the latest and greatest munews out of greece. we were just talking about the moves in euro dollar over the month of july. not a big move. so much going on. is there absolutely. in some ways that's almost why. if you look this year the period of crisis is when the euro's been the most stable. it's paradoxical. it make sense. nobody wants to be short of the year. ironically, once the rirvegs go

away and people start to feel more comfortable, the euro comes down. greece, that was an issue. that went away. china, that was an issue. that went away. know those things for the moment are over with probably there's space for the your troeeuro to make a move lower. >> how much lower? what are you looking at? >> i think you have to put this in the broader contest. we're three- quarters of the way threw through, i would argue. these things typically last five, six years. we have woman to three-quartercome three-quarters of a way through. it might be ratd call to say it might be down to the mid 90s. but it could make perfect sense. >> many trading at the all-time low. some of that having to do with a

rising rate prospect in the united states. the mexican peso at an all-time low. currencies in other countries at the lowest levels for more than a decade. more pain to come? >> could be. south africa, in particular. we clearly have a potential for commodities to go under pressure at the back of this. i think it's one of the issues we need to address. 2013, the table turned then. back to 1998 a fed then ended up depleting into -- exacerbating an already existing try crisis. there is a risk. that might be the one thing that causes the fed to pause a little bit. >> finally, some month-end positioning and month-end

buying. it's interesting you have pointed out that volumes are high. >> i don't know if i would say high, but good. i think that's the best way to describe it. people have been waiting for these things to go through. now, it's reason bloiably easy to get in. >> simon derrick, chief currency strategist at bny melon. is it a company you want to invest in? we'll talk about the fitness company soul cycle getting ready for its ipo.

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fixodent. strong more like natural teeth. fixodent and forget it. soul cycle, the indoor cycling fitness change with a cult-like following is filing for an ipo. the company is not saying where it will list share. it's seeking to raise $100 million. soul cycle with fans like anderson cooper and kelly ripa offers classes surrounding stationary bikes. this celebrity here seem, a, she's tried it out. >> oh you're funny. >> is it worth the buzz? >> there's a cult following. this is not just a fitness brand. they call them soul evangelists. they're crazy.

i've tried it a couple of times. you enter a dark room. there's loud pop music. the class is 45 minutes long. you end the show dripping this sweat. you're sweating in places you didn't know you could sweat. it's a good workout, for sure. the question is a low barrier to entry. other players out there that often spinning classes. does it have a differentiated product offering and is it a business model someone wants to invest in? clearly high interest. >> as long as they can keep the buzz going, that will speak this their favor. it's interesting. talking about generating a buzz. they spent so little on advertising, only $1 million in 2014. that's less than 1% of the sales. you look at nike they spent roughly 10% of their revenues. >> a lot of it is word of mouth. social media as well. the fact that a lot of people

are attending the classes, wearing their apparel. >> currently valued if they're filing for a $1010 million ipo. that values the company at $900 million. >> smaller ipo. as you said star appeal. the likes of david beckham, lady gaga tom cruise, beyonce all seen soul cycling. >> maybe i should go. it's only in new york and los angeles. >> they would have to expand here. still to come on "worldwide exchange," we'll discuss oil. is this the best time to get in? coming up after the break.

and you're watching "worldwide exchange." i'm seema mody. >> and i'm carolin roth. these are your headlines. the july to forget. the shanghai composite posting the biggest loss? six year. crude heading for a sixth week of declines. opec says it won't slow production. the stock social media linkedin shares fall after a $67 million loss reported in the second quarter. peopling good about itself

soul cycle says it's going pluck with public with a very unusual filing. the mission to aspire to inspire. we're poised to end the month higher. right now, here on friday u.s. markets looking like we could see another day of gains. the dow up 17 points in premarket trade. this after the u.s. gdp number came in at 2.3%. there's an overwhelming consensus among economists that the fed will perhaps raise rates in september. in the meantime looking at european stocks flirting with a one-week high. the xetra dax up. the european expectation show casing the greek drama didn't have an impact on economic data when looking at inflation. the fstse 100 down. the french markets moving to the

upside. we're seeing the cac 40 up about 19 point. another down day for the italian markets. a quick look at oil prices. they're getting hammered today. let's show you wti and brent crude. they're down significantly. once again, i guess we don't have the board here. there you go. brent crude down. off by 1.9. lower oil prices expected to weigh heavily on chevron's quarterly earnings. earlier this week chevron announced it's cutting 1500 jobs to reduce costs by $1 billion. meanwhile, exxonmobil is expected to weather the slide in crude due to diverse operations. the biggest listed oil company reaps higher profits from making fuels and chemicals when oil and gas prices are low. exxonmobil has not announced

layoffs. joining us from denver is michael sciala. thank you for joining us. what are your forecasts for the to two companies? >> i don't cover either directly. i think that exxon is better positioned and both are better positioned than the companies i cover. my companies are you are a upstream u.s. companies. they don't have the benefit of refining margins to insulate the low oil prices. they've been suffering with the low ill prices. >> big oil is a favorite dividend play. there is concern that some companies can't fund their dividend play. do you think that will happen? >> i think oil will be mired in the high 40s to low 50s range for wti for most of the remainer of the year.

we've been fore casing 55 this year. that looks a little aggressive right now. but, yes, the market is oversupplied by more than 1.5 million barrels per day. opec has not shown signs of slowing down. namely iraq and saudi arabia have been adding barrels to the market. we have the specter of iran coming back into the market next year. it looks like with demand growing at above normal rates that the market will be oversup police department plied. >> what will it take for producers to scale back? at some point? >> i think you are seeing that now. the shale production according to the u.s. government's numbers, look like it peaked in april. it's taken a bit of time more than we would have anticipated. we're seeing a slowdown now.

the recount did pop up a little bit last week. there was a signal there, when oil probably got aled of itself frankly. wti prices popped up to $60 in the second quarter. the fundamentals didn't support that. i think some companies thought they plightmight go back to drilling. big companies, whiting petroleum petroleum, look to maintain production. not looking to grow even into 2016. i think we're seeing u.s. production if not roll over hard at least the growth has been halted. >> michael, maintaining production for the company that you cover, that's ambitious, too, isn't it? >> it will be difficult for some. the companies that have good balance sheets and good hedge positions will be positioned to do that.

conc concho energy is in good position. could grow out of the clash flow next year. i think they'll be struggling to maintain production. >> what is your top pibck in the sector? >> like concho and anadarko petroleum are good company that are well positioned to weather the storm. >> thank you michael. always a pleasure to speak to you. moving on a suitcase washed up on the same beach as a piece of aircraft debris. it's been investigated to dperm it's related to the missing malaysian airlines plane. sit related to mh-370? malaysian authorities say it is almost certain that the wreckage originates from the boeing 777, the same type of plane that fell off the radar back in march of last year. today is the final day of

meetings to negotiate the transpacific partnership. the deal remains elusive due to difference such as farm exporlts and monopoly periods for next generation drugs. ministers are warning that not all industries will get what they want. and still to come, electronic arts sets a new high score. investors are pushing the reset button on its stock. find out why. ♪ ♪ no student's ever been the king of the campus on day one. but you're armed with a roomy new jansport backpack, a powerful new dell 2-in-1 laptop and durable new stellar notebooks, so you're walking the halls with varsity level swagger. that's what we call that new gear feeling. you left this on the bus... get it at the place with the experts to get you the right gear.

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welcome back. investors are bracing as puerto rico is set to miss about $58 million in bond payments this weekend as the u.s. territory tries to restructure $72 billion in debt. it would mark the first skipped payment since they said last month the island's debt was unstainable. more than 50% of u.s. municipal bonds hold some puerto rico debt. u.s. phone studio relativity media is filing for bankruptcy. they'll pursue a sale to a group of lenders. relativity was founded in 200 h

by ryan cavanaugh who built his career funding films. they still plan to release the two remaining films this year and a tv vision of the movie limitless. you're looking at life pictures of the international olympic committee preparing to announce the host city for the 2020 olympic game ps the two big contenders are china and almonte. many think that beijing will get it. there's a good chance they get it again. in the meantime we're more than halfway through the u.s. earning season. according to the latest stats, 73% of the s&p 500 company that are report something far have beat the estimates. some have missed. let's get to the latest in today's trade with bertha coombs. >> let's start with linkedin.

it reported a wider second quarter loss on hire costs. the professional social network networking site has been expanding sales and margareting teams. revenues rose 33% driven by strong growth in the talents solutions business. linkedin is raising the full-year revenue outlook as the newest akcquisition is expected to help. lynda.com. amgen's second quarter numbers were strong. the world's largest biotech company said the strong dollar cut into revenues. amgen is raising the full-year guidance above analysts estimates. they expect to get fda approval for what could be the next big

drug. a new cholesterol fighter called repatha in late august. electronic arts beat forecasts as they raked in cash from digital sales. ea is benefiting from the digital goods, accounting for 77% of total revenue. it's spending less on packaging and shipping. the company is raising the full-year revenue outlook as it gets set to release one of the year's most an tis baited games, "star wars battle front." many analysts view ea's guidance as a bit conservative. checking shares of all three companies in europe today. linkedin and ea are down more than 3%. amgen, as you can see, is up about 1%. i don't know about you guys. i don't play those game. but i know for a lot of people that is one they're really looking forward to. >> absolutely.

specifically for the millenia generation. linkedin shares down about 6% in premarket trade. this is a social media giant that beat estimates. but the stock is moving lower. a similar situation for facebook and twitter. we should point out in the earnings report there were bright spots. talent solutions rose 38%. much higher than what the street was expected. >> but some of the weaker spots. costs rising 53%. it's been an issue for facebook investors when the numbers were reported earlier this week. display advertising is a weakness. that's a caveat to the number. even if numbers, by and large, looked okayish. >> we don't think of social media as being immune to

ethicsed aethics ed a admins. they said excluding tim pact of the stronger dollar revenue would have risen about 38% in that same time. the currency headwinds affect everybody. >> they have to expand overseas. day if they don't do that they'll get punished by the market. facebook says it's finished building the first full-scale drone to provide internet access to some parts of the world. the drone weighs about 900 pounds and has the wingspan of a 737. facebook plans to start testing the drone later this year. google glass is back. it's all business. "the wall street journal" reports the company has quietly introduced a wearable version of the device. the new model is aimed at corporate customers, such as

health care proirds, manufacturers, and energy companies. facebook amazon google and netflix have all reported earnings. y are you buying? we got your tweets. jeff said i would rather buy popcorn. others say apple is the top pick. given the strong growth they saw in iphone. it depends on what part of the growth story you want to invest in. keep your tweets coming. our personal handles on the bottom of the screen. >> and popcorn bauds we talked to a popcorn company as well. our loyal viewer jeff talks about it. we're still waiting for the announcement of the 2022 winter olympics game winner. the choices are between almonte in kazakhstan and bay squlingeijingbeijing.

all eyes are on beijing. they're expektded widely to win the bid for the 2022 winter games. all right. these are the headlines this morning. the shanghai reports a big loss. alexi tsipras says he told his finance miniofficer to prefair a grexit but it wasn't part of the plan. airline deliveries take off.

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and now you can use zip recruiter for free. go to ziprecruiter.com. welcome back. a quick look at if european equity markets. on this friday, we're looking a little bit more timid. we saw three days of gains. the xetra dax is down.

some earnings reports were mixed. we have the cbi numbers out for the euro zone for the month of july. in line with expectations. so far very away from the ecb's target. seema? we hear from key oil majors including chevron. that could change the story. the dow down about one point. the s&p 500 flirting with a flat line. we'll see what that means for when wall street opens for trade at 9:30 a.m. eastern. let's take a look at the rundown. you'll look at what to watch in today's trade. first up, the second quarter employment cost index is out at 8:30 a.m. eastern. the broadest measure of labor costs. it's expected to show wage inflation is picking up in line with the decreasing slack in the labor market. 10:00 a.m. we get the july

report. and it is the final trading day of july. seema, it's july 31st. we want to show you at the markets have done over the course of the month. the stoxx 600 has risen 2.3%. that belies the volatility this month. over the months we saw modest gains. >> so many external factors to digest. the greek fears kept us busy on this side of the an lat ticktlantic. let's look at how the shanghai composite worked out. there is this confusion as to whether the central bank can stimulate the chinese economy. the commodity route seen as a reason for the dip in chinese stocks. ending lower by 14%.

looking at the nasdaq. a lot of tech earnings coming out over the past two weeks. apple beating expectations. the stock still dropped. only a gain of around 2.8% for the month of july. what does this mean for commodities? the stronger dollar at play pushing oil prices lower. now the threat of depolice station. investors have had to have a conversation around. wti crude down about 19% for the month of july. catching a lot of investors by surprise. what this means for the energy sector, the worst performing sector on the s&p 500. hey, todd would you put money to work in the energy sector or is it hands off? >> good morning. yes, i would put money. i think you want to be a buyer here at the most distressed times. i think one of the most important things you can look at as an investor is the

opportunities that present themselves. we know oil can go lower. there's trouble with the dollar. there's worldwide manipulation with the currencies. here's a level. you have stocks like halliburton down around 40. you have a lot of good opportunity here. if you're investing, these are opportunities to buy into these markets because the companies are basically strong and will improve with stronger prices. down the road we'll see stronger prices. >> um todd we have had so much going on this week in terms of the gdp print that was so-so. nothing to write home about. the fed statement didn't offer too much clarity. what do you think in terms of september or december? or is this year off the table? >> how about next year? there will be no interest rate rise. the fed itself has painted itself into a corner. they're not sure how to get out. they got a big break with the trouble in china and greece that took them off the front page. right now, we have such a mess.

if you're watching, you're seeing every major central bank is trying to manipulate their own currency to prevent the bottoms from falling out. we see it in china. that fell. heir they're not in a position the raise rates. they'll push it off. janet yellen in her testimony of last week she saiding we'll look at december. we know for sure, if nay believe it is going crack the stock market, they're not going the raise before christmas pip think september is off. i think because of the possibility of a selloff, it won't be christmas. i would say possibly first quarter next year. i would bet heavy against they're going to raise anytime in 2015. >> keeping an eye on the treasury market todd. former chair volcker said liquidity in the bond market is not an issue. would you agree? >> i would. the futures have been the most

volatile product on the floor. typically, the bontdds are most stable. you're seeing fear pushing up the u.s. dollar and pushing the treasury bonds. when people run into fear they run into not gold, they run into the u.s. dollar and u.s. treasury market. they're going for safe money. >> all right, finally, what do you make of the tech earnings this week? energy. tech was a big story when it comes to earnings. todd, we have been asking our viewers to buy into the biggest gainers which have been leading the gains on the nasdaq. or do you sell them? >> i think -- i think if you look at them individually, i think you sell netflix and amazon. i think good companies but i think significantly overvalid. i think you look for a spot to buy apple. i think if you wait for facebook to make a pull back down to 80 or 85 you want to be a entire there. but netflix and amazon are in an

asset bubble. >> what is your top trade on the last trading day of the month, todd? >> my top trade today is looking to short the s&p. i think that is the best trade on the board. i think we go lower from here. >> the s & p 500 holding on to a gain of about 2%. thank you, todd. appreciate your time. we've been showing you live pictures on the olympic games decision for the winter games in 2022. i know it's a long time away. but beijing has been one of the top contenders. it's been going up against almaty in kazakhstan. beijing is the favorite right now. they hosted the summer games in 2008. keep an eye on that decision. and we won't get it during this show, unfortunately. that's it for today's show. i'm carolin roth. >> i'm seema mody. next up "squawk box."

have a greatdy. ♪ no student's ever been the king of the campus on day one. but you're armed with a roomy new jansport backpack, a powerful new dell 2-in-1 laptop and durable new stellar notebooks, so you're walking the halls with varsity level swagger. that's what we call that new gear feeling. you left this on the bus... get it at the place with the experts to get you the right gear. office depot officemax. gear up for school. gear up for great.

good morning and welcome to the final trading day of july. don't pack up your portfolio for the beach just yet. traders say august could mean big things for the market this year. we'll explain. media and tech news. apple reportedly getting set to roll out the next generation of the tv set top box. it's set to include a new role for siri. i like her. plus an nbc news exclusive. a secret nsa map shows china's sooib sooib cyber attacks on america all over the place. it's friday july 31 2015.

and "squawk box" starts right now. >> announcer: live from new york where business never sleeps this is "squawk box." good morning, everybody. welcome to "squawk box." i'm becky quick along with joe kernen. andrew is enjoying time off today. check out the foo fighters fans. 1,000 of them teamed up on a field to cover the 1999 hit learn to fly. rows of drum sets guitars, and vocalists playing the four-minute song. we'll tell you why later. one trading day for the month. here's how july is standing at this point. looks like the dow is up 1% higher. the nasdaq higher by roughly 3%. if you want to check out russ lg, it's down on the month. as for the year to date numbers. the dow is in the red. just fractionally. the nasdaq the big