good morning. stocks on the move. >> breaking overnight. deknown and white wave making a $10 billion deal capitalizing on the health conscious consumer. >> 2016 donald trump rax kes in the green. all that coming up. it's thursday july 7, 2016. worldwi"worldwide exchange" beg right now.

good and welcome to worldwide exchange. i'm sara eisen. >> and i'm wilfred frost. good morning. it's throw back thursday. we're in the mix of the first official heat wave in new york. i have to say i don't like this one. the weather has been very, very warm. >> you don't have summer in london. i was there last week it was freezing and raining the whole time. welcome to summer. >> this is too hot the last couple of days. >> it's extreme. >> let's check in on the markets whether they're hot or cold this morning. the dow was down over 100 points, but rallied. all three up again this morning. the nasdaq by 10 points. the 10-year note once again hitting another all-time record low 1.32%.

we're at 1.385. yesterday we also hit record lows in the german 10 year and the uk 10 year. >> let's look at the action in european trade that has been difficult in the last few sessions. green today. looks like more than 1% gains for the german dax, french cac. >> today month depash, the one that has been in the eye of the storm, they extended the short selling ban by three months. that's helped the banks to rally in the short term, but also raised questions whether the compromise have been able to bail the banks out has been delayed further. either way the italian banks are rallying a bit today, but very much in the eye of the storm. >> the populism concerns about bailing out the banks as for the

overnight action in asia let's give you a check of what happened. nikkei anyonishes lfinishing lower. >> broader markets let's have a look at the dollar, the pound to a fresh low yesterday. 1.2769. we're trading above that level. 1.2969. still a big fall in the pound since brexit vote. some 13% lower. we're up a little bit today for the pound. down a little bit for the dollar against the yen. 100.98. and the euro is broadly flat at 1.1076. gold prices have gained in the last several weeks. oil prices, wti yet up a little further. just above 48 this morning. >> we have some breaking deal

news. da known is buying white wave for $10 billion to expand presence in united states. danone. >> you have probably seen it at the grocery. will pay 56 bucks a share in cash. that's a 24% premium to closing price over the last 30 days. both stocks reacting quite positively to this report. i will say i covered white wave for a long time, the maker of plant based milk and dairy. this has long been rumored and speculated to be an acquisition target. it's a small company, few billion dollars. it is focused on a high growing sector of consumer products which some of these big companies like da known and campbell soup, kellog, they were all thought to be acquirers. cramer for a long time has been saying this is a prime acquisition target. the only question was going to be who and when and here it is.

deknown has a good presence inspect u.s. a lot of people thought coca-cola could be a good target. . they're working on their fair life which is a new joint venture they have. premium milk so this was considered compliment care. >> meantime in the macro land, kuroda kor row da saying japan central bank is ready to expand monetary stimulus further in needed to achieve 2% inflation target. made no mention of the brexit vote and the comments do come as speculation is growing that the bank of japan will ease policy at the meeting this monday. stronger yen and weaker consumption have weighed on the economy. people are on high alert for intervention in the market. there's the dollar yen.

hovering around the dollars level. looks like for now the market is not quite testing the bank of japan, but if you do see this period of a big selloff. >> it's a sign of the times. main focus was mr. karrny. >> the question of whether he's the adult in the room or that he deserves criticism for kind of weighing in politically. >> >> people have mutual fund past the political criticism now. questioning whether they had the correct plans in place. it seems to be they have although some of the comments. >> he's the only one doing anything over there. >> we don't have any politicians in place at the moment. >> correct. >> credit rating to outlook to a triple a negative to triple a stable today. the credit agency warned without action may not capitalable with

a . put the country back in surplus danger. i think the ratings is 1-10 is the rating. it's confusing with all these different letters and numbers. one to ten. take note. much easier for everyone. >> there's a double dose of job data. the biggie on friday, tomorrow. today we'll get the june adp employment report out at 8:15 a.m. it's forecast to show about 150,000 private sector jobs added last month. then it's thursday so that means a look for job claims expected to hold steady. pepsi coearnings before the bell. don't mishs hugh johnston.

it's a good parameter because p pepsi has been dealing with exspoe sure. it won't show up yet, but that could hurt eventually. latin america has been a tough spot. we'll continue to watch whether the strength in north america, especially free toe can hold up. >> good interview and great interviewer for that particular one. today will bring us one step closer to finding out who britain's next prime minster is. a second round of voting will take place in the conservative leadership race with the final two candidates expected to be named later today around about lunchtime. home secretary theresa may is the front-runner after securing the most votes. the other candidates are andrea leadsom and michael gove. about 1:00 p.m. eastern time we should know who the final two are. >> is it looking like it's going

to be the final two candidates. >> it is looking like the two ladies. theresa may for a definite and between gove and leadsom. today's corporate news. tesla is ramping up words. fundamentally incorrect. the electric car maker said it did no wrong by waiting to disclose a fatal accident involving one of its cars with self driving technology. this of course after fortune accomplished a story that was critical of tesla's decision to sit on the news for eight weeks. elon sold off $2 billion of company shares in the interim. tesla blog post last night denying that it withheld information from shareholders regarding the crash. >> former wall street andrew kas

person pled guilty in massive fraud. prosecutors allege he cheated a dozen investors by claiming he would use their money to make loans. instead he used it in his own accounts. he blames it on a gambling addiction he could not control. >> when we come back, volatility is certainly in full swing. check out crude prices. helima kroft when we come back. the annual break of running of the bulls is underway. i've done this. i've done this back in the day. it was the most stupid thing i've ever done. terrifying. the week long party was in earnest hemmingway's novel. there are bull runs where daredevils test their bravery,

brave, by racing with six bulls fighting along a 930 street course which is longer than you expect particularly when you've had a lot of beers. worldwide exchange will be right back. back in a couple of minutes. todd spaletto, president of the north face, we are working on the prototype to match customers to gear. watson, let's give it a try. say it's mid-june and i'm backpacking in yosemite. of our 353 jackets, i can recommend nine. watson, what if it rains?

there is just a 3% chance of rain, so i recommend the breathable stretch fleece fuse form dolomiti jacket. a perfect choice watson. no wonder our customer loyalty numbers keep climbing. i believe we can do even better. i like the way you think.

>> welcome back to "worldwide exchange." the uk market is benefitting

from a fall in the pound, but that doesn't tell the full story. let's explore it. the pound has fallen sharp live since the brexit vote. when you look at the ftse chart. i was has recovered now above it's pre-brexit level however it doesn't tell the full story. yes the ftse 100 is up, but in dollar terms it's sharply down. the next 250 biggest companies are down sharply as well. indeed overperformance is flatted by few performances. shire has benefitted as they have large u.s. dollar earnings. almost half of the 100 companies are still in the red. three of the worst are home builders, property players was the move in rbs. barclays down.

it's important to explain why uk banks are selling off. the yield curve has flattened, but also down the fear of market it is not however capital fears. that makes it a different issue than what faces the italian banks right now and overall it's certainly true a couple of companies are benefitting from the falling pound and the ftse 100 rallying, but doesn't pate a picture of health across the uk. >> it remind me of a quote. mr. draghi is a 2% inflation target really worth decembstroy your banking system. negative rates are killing the profits. >> we are coming up to banks' earnings again back here in the u.s. and they're the biggest

real impact from the brexit vote. the simple affect on the yield. it will be interesting to see what they say. j.p. morgan have a big presence and that's nothing compared of course to the moves. >> absolutely. before we were all watching the banks and the pound it was the oil leader. we are seeing a nice boos right now for wti and brent. where do we go from here? joining us is croft. nbc contributor, good morning to you. >> lovely library you're in. >> i know. >> providence. >> so tell us about what was driving the recent pressure on oil over the last few sessions which was starting to really weigh on the markets and whether this bounce today looks like something more sustainable.

>> will -- well, obviously the brexit has weighed on oil. i think one of the big things everyone is watching right now is simply the gasoline overhang. the concern about inventory levels. back at the end of the driving season. there is a concern about the inventories. we still expect crude to trend higher towards the end of year because we think the supply and demand balance is coming. i think the overhang is being wiped out, but the macro headlines could drag us down gl what's your latest view in terms of asian demand. some people have gotten more concerned about that. >> there are concerns about china. concerns about the product exports from china. we're cautiously constructive on chinese demand this year. the real bright spot for demand right now has been india. india demand has been soaring this year e. real talk they could be the new china going forward. they move more into

manufacturing sector. we think that is going to be a growth engine. there has been recent concerns about china. we think we're pretty optimistic about the demand picture this year. >> can you give us an update. we did see drilling activity picked up. where are we here. >> that has been the other story been the rig count rising. weapon don't think this is a price environment that is going to cause a light switch to come back on in terms of a lot of u.s. production. i mean, you're really going to see the high 50s, low 60s to get rigs back to work on a very significant basis and the economics certainly are better in the core of the perm yan, but to get rigs back to work for example is going to require a much higher price environment. when you get reports of rigs being put back to work, that does weigh on sentiment. certainly a strong dollar part of the macro headwinds.

we just have to watch. we are watching other head winds which could be very, very miningful. if libya were come back in terms of production. there are reports we could see some terminals reopen tlg. th if we got those barrels back on a meaningful way, that could be a very serious supply overhang. >> finally your target here for year end, has it changed at all. >> we actually raised our year end target. we think it's going to average $55 again because we think of the improving supply and demand balance. >> thank you for joining us. capital market. >> a morning of reading books ahead of her. >> still to come, trump is bringing in big bucks. his campaign has managed to make a financial comeback, but how do his funds stack up. before we head to break,

here is today's national weather forecast. >> yesterday we had some rough weather around parts of the country including the southeast. it did pack a bunch. we could see today the best chance of storms across parts of the midwest and moving into the ohio valley. some of these could be violent as we get into the afternoon hours. folks, beready for that. plebty of sunshine. there's something else you can expect in dallas. the extreme heat the going to continue. we are in the midst of massive heat wave. in fact you'll get the colors across the planes. a lot of liquid is needed. water is the way to go. miami with 92. 88 in new york. all right folks that's your forecast. stick around on the other side

of the commercial break. "world right back.

thank you is what we say. but we mean so much more. we mean how can we help? we mean what can we do? we mean it's our turn. to do our part. to serve you, for all you've done to serve us. ♪ welcome whaback to politics the issue isn't going away. edward lawrence joins us with more from washington. >> it's not going away by a long shot for hillary clinton though this matter is over, but because of the strong language from the fbi director, not for

republicans and donald trump. >> no discussion of the state department e-mails. >> attorney general met with fbi director james comey as well as the agents and prosecutors who worked on the e-mail investigation. she said in a statement she accepted their unanimous decision not to charge hillary clinton for mishanding information. >> we have seen nothing, but stonewalling ask dishonesty on this issue and that means there are a lot many questions that need to be answered. >> the fbi director will testify this morning in front of an emergency congressional hearing. >> let's deal in the facts in an apolitical cayway. >> meanwhile the political attacks continue on the campaign trail. >> lies, we say lie, lie, lie. >> lie, dirty rotten liar. >> make sure he never has the chance to bankrupt america the

way he bankrupts his businesses. >> as clinton faces an integrity issue that may be hard to shake. >> attorney general loretta lynch will face the same questions in front of the same house committee next week. reporting in washington back to you. >> i watched the trump news conference or rally last night because it was in cincinnati or maybe i haven't seen him in a long time, but this one seemed particularly fiery and it got a lot of attention on twitter. i'm just wondering what the reaction is in washington. >> he was very fired up. went off on a tirade. i think a number of republicans were very excited to see his sort of inspiration in terms of his energy that was with the crowd. donald trump came out firing. he did not hold anything back as you know during that speech there that he gave, but yeah republicans and lawmakers are now trying to rally behind donald trump so they do want to

make sure he doesn't make the same missteps he's made over the past several weeks. there was a teleprompter used in that speech, but they want to make sure he's on the right message. and the lawmakers as far as i could see were pleased with what he was saying. >> thank you very much for that. i'm interested in where the speech took place, your hometown. >> kasich country. >> i have no idea, that's a heated debate in my household. >> this is a swing county in a swing state. hamilton county which is cincinnati ohio went toward obama. it is why he was so fired up last night. what also is interesting he went through the hillary clinton and the e-mails which we expected, but he also went after the

press, went after chuck todd. he mentioned the british pound, i think almost as much adds he mentioned hillary clinton. >> thmeantime trump's presidentl campaign is making a financial co comeback. raised more than $50 million in the month of june. which is more than 16 times what he raised in may. according to the trump campaign, slightly more than half the money raised came from dinlt digital small dollar operation with the help of the republican national committee. back in 2012, mitt romney raised more than $100 million. clinton raised $40.5 million in june. and an additional $28 million for the democratic party bringing her june total to $68.5 million. this is a big success in terms of the trump campaign starting

to really meaningfully raise money. >> look back at gold and see how long the precious metal can hold up. we'll be right back.

good morning. breaking deal news overnight. white wave make a $10 billion

transacti transaction. and mcdonald's is super sizing the all-day prek fast menu. customers asked, the consumer listened. you're watching "worldwide exchange". good morning and welcome to "worldwide exchange." >> good morning to you. it's throw back thursday. we're in the thick of our first official heat wave here in new york. >> let's check on global markets this morning. show you what u.s. futures are doing after two days of declines. ending that four-day winning streak. it is a higher picture, but just barely this morning. s&p futures flat. dow futures up 10. nasdaq up four following the early action in europe which is actually a little bit stronger.

1% gains across the board for the dax. lost a little bit of steam, but still hanging on to gains. the ftse 100 watching that closely with the fall of the british pound up a percent and a half. the italian market which has been especially hammered is underperforming, but still higher. as for asia overnights, t yen, watching that level very closely. flat market in shanghai. >> oil prices were stronger yesterday. stronger again today by a further 1%. just shy of 48 bucks this morning. if we look at the 10-year note we hit another record low yesterday of 1.32%. we're just above that on the u.s. 10 year right now. the pound has been eye of the storm. the pound hitting a fresh low yesterday of 1.2769.

we're above that now. we're steady around 1.30. gold prices just about flat this morning. if we see it come forward, just about flat. >> breaking deal news this morning. danone buying white wave food for about $10 million to expand presence in the united states. makes brand like horizontal, silk almond milk. da known will pay cash. turns out to be a premium. white wave soaring almost to that price up a little more than 17%. da known also liked the news. up 5%. it's about exposure to u.s. white wave has always been seen as an attractive acquisition target. a lot of people pointed to

kellog and campbell soup and general mills. it's one of the strongest growing companies. another stock we're going to watch in u.s. session is a big maker of organic foods and a comparable size as another acquisition target. >> interesting time to be buying u.s. dollar assets. the u.s. dollar is not super strong, but it's rallied a bitd. >> it's a french company and the only thing i would say is part of a broader consolidation in the global food business right now. we had reports that monday lays confirmed it was offering to take out her shi. this has been a sector. it continues as these big companies look for growth and the way they're getting growth is through acquisition.

>> let's get back to precious metals. gold prices up just a fraction this morning. of course rallied sharply over the last few weeks. joining us from new york is jim steel. he's chief commodities analyst. good morning. thanks for joining. does this rally just keep on going in gold. >> it looks like it does have legs, yes, and don't forget too we've been rallying for a good six months. the low of the market was in mid december when it was around 1, 045, although it's had a boost in the last few weeks for obvious reasons, it has been going up for quite some time on quite food fundamentals. >> gold has people who love it and people who hate it. the haters say goeld is getting a little bounce, but considering

you're getting a depreciation in the pound and what looks like a weaker environment, maybe you should see gold spike up even higher. >> gold has always has it's detractors. i would point to the longevity as far as being a useful asset. i think its value has always landed it's portfolio diversification issues. whether it should exactly be higher at this moment is difficult to say, but the fact of the matter is that in a risky situation, it does always drive a fair amount of buying. now, having said that, you know, addressing your point more specifically, gold is also still a commodity and it's also still a market. subject to supply demand issues. and as we've gone up, we've seen a deterioration in emerging market demand. if you take india and china, for example, that's two-thirds of all of the physical jewelry purchases in the world and a fair amount of other purchases

as well. as we've moved up, that's tended to price out price sensitive buyers so we have seen restraint on the physical side of market to compliment the increase in investment. >> jim, if we did see inflation come into economies around the world, would that be an extraordinary boost for gold given where we already see bond bid to. would gold by the only place to go if inflation arrived. >> it would be very attractive. in addition to rallying and in inflation. as we pursued the easy monetary policies the market has been higher. i think that partly explanes the rally this year. we were down last year and the year before as the market sensed there was a turn in global monetary policy. particularly from the fed. that hasn't come through.

we haven't seen those rate rises. the market has recalibrated and come back higher. it isn't necessarily the actual inflation number that takes gold higher. it's what we expect from the central banks to do in response to that inflation. if you look at 1980 when the rates jacked up, that's when the gold market began to come down. >> jim, if you look at the post-brexit reaction and precious metals, silver has actually outshined gold. is there a reason for that? is there a reason to buy that instead of gold as your preferred hedge? >> that's a good point. you know, the fact of the matter is that these silver as well as platinum are much smaller than the gold market. they have -- well, in the case of silver particularly. has a much stronger retail investment component. because of its smaller size and because of higher retail investment it tends to be more volatile.

when you get markets silver will outperform gold both to the upside and to the downside. that's what we're seeing now. i would caution the silver market is more volatile. we have an upside target of around $21 for this year. we could easily get up to there, but you have to watch the volatility in the silver versus the other metals. >> jim steel, thank you so much for joining us. >> great name. >> it's not a precious metal. >> . >> there's a double dose of jobs data today ahead of the payrolls report on friday. the june adp employment report is out at 8:15 eastern time. forecast to show about 115,000 private sectors jobs laided last

month. versus may. it is thursday, 8:30 a.m. weekly job cla jobless claims are out. pepsi co-reporting. hugh johnston. that's just after 9 a.m. squak on the street always good to get the shot. the snacking business has been strong. interesting time to talk to pepsi in what has been a wave of consolidation for food and beverage companies. >> yes, indeed. some stocks to watch today, all u.s. jury ordering due pant to pay $5 million to a man who claims to have cancer after

exposure. >> western digital is raising a fourth quarter profit. the maker of computer disk dr e drivdriv drives recently completed acquisition. chief strategy officer up 5% this morning. samsung is set for it's best quarter in two years. expect second quarter profit rose thanks to sales of gal si s 7 phone. up from 10 medicillion. >> american airlines wants to help you get to your gate even faster so it's teaming on the tsa this fall to test automatic security screening. among the improvements here, automatic conveyer belts. waying to isolate risky bays without disrupting the line. the most important feature may

be the introduction of ct scans for carry on bags which should allow you to keep your laptop and liquids inside the bag. the test will be at american hubs in chicago as well as fort worth, los angeles and miami. taking the security and line matters into their own hands. let's get to the top trending stories of the morning. snapchat allowing a feature called memories. allowed to save videos and snaps inside the snap app. the memories select i'll over the course of the next month. >> so we can go back and choose all my favorite wilfred pictures from over the months. >> this is also reminiscent of instagr instagram. bad news for game of thrones fans. the shows creator saying the production of the shows season

seven will be delayed. no official return date has been announced. >> don't tell me. stop, stop. >> about the weather. winter is here. they need to film in the winter. that's all i'm telling you. >> now i know it's not sunny at the end of the series. >> it'sn never p sunny. >> i've got a whole series i can bing watch. >> this season has been the best. >> excited to watch it. >> mcdonald's is expanding the breakfast menu. adding to the all day menu. mcdonald's most recently reporting a sales increase following the roll out of breakfast and pick two. >> when we come back, today's must read story including one

pundit why the exit from the eu hau nothing on the united states. long and drawn out leadership. worldwide exchange will be right back.

welcome back to worldwide exchange to our must read stories of the morning. my pick in the financial times titled sterling's decline is a sign of political uncertainty.

writing in the aftermath of the referendum looking ahead sterling looks much more of a symptom of deep seated political malaise and uncertainty. an economic downturn seems to be underway and may well end in a recession. mag nus saying the pound could fall to 1.15. stabilizing around 1 .30 this morning. it's a pretty down beat assessment of the full and suggesting there's worse to come. >> but importantly not a shock. >> no, but saying there's not going to be such a benefit to the economy. there will be a little bit to some exporters, but overall this is the start of something worse and saying the political uncertainty and constitution vacuum into which the uk has sunk has not be priced in yet and he thinks it can go lower. >> we'll see what happens. when they get the final two that's coming today. >> coming around lunchtime and then a month of campaigning. >> prime minster early september. >> my pick is in the wall street

journal. writing, this amexit is not simply defined by the retreat from afghanistan and iraq and it's unwillingness no enforce. or to confront chinese and north korea yen nor is it on the american's long standing allies. he also points to the fact the obama administration has gone to considerable lengths to reconnect with cuba, restore diplomatic relations with iran and sort of a list of all of the reasons why, according to this columnist, america is a more dangerous place since the obama agency. israel and japan are moving to other nations trying to connect because they're unnerved about what's happening in the america. just something to think about.

>> not as catchy, amexit. >> it's not, but it could be more scary. >> we're approaching the top of the hour. the team is getting ready for "squawk box." joe joins us with a prove. >> good morning. amexit sound like if adnexa mex getting out of credit card. >> you got that wsj covered today. i was looking at it. establishment in terms of not really -- well, that's an understatement. not being behind donald trump as a candidate and yet they can't help themselves in looking at some of the issues and they seem to -- they don't really back him, but they have the same viewpoint on certain things. they go into clinton casino royal. if you read the journals take on what happened in atlantic city

and 140 characters trump tried to talk about the mistakes made by the progressive government down in atlantic city. it's hard to do in 140 characters. the journal does a great job. for you, wilfred, i don't know if you read this chill cot reportcot report i love the term self flajlation and then i realize it's like hitting yourself. so don't get the wrong idea about that, but then it goes on to say that the report really nothing new, but it does come to the conclusion that iraq would have been better off with is a doom hue sane. he was able to kill terrorists. it's sort of a way to of saying maybe chilcot was giving an endorsement no trump's comments.

the journal can't help itself in terms of -- they'll never get behind and endorse trump, but they seem to at least pick some of his policy positions and say he may be right about some of these. >> one thing i would say about chilcot is amazing spending time over here. bush is kind of forgiven for any issues around the iraq war. the opinion in the uk around tony blair remains toxic. bringing that to a head once again. >> first line of the piece. britain's establishment has nev never forgiven itself. >> i thought you were going to talk about the trump speech last night and cincinnati which was particularly fiery. >> i did watch a lot of that. he has not yet gotten back to

testimony mainstream candidate yet. trump is still trump, if you watch that. >> i liked his impressions of himself. we have to go. thanks very much. >> when we come back investors getting over the shock of the brexit shoet and starting to focus on upcoming earnings season. daryl cronk will way in. \g ear season. daryl cronk will way in. tg ear season. daryl cronk will way in. g earn season. daryl cronk will way in. g earn season. daryl cronk will way in.

welcome back to "worldwide exchange." daryl cronk. good morning to you. thanks for joining us. so is concerns for brexit behind us now. >> i don't know if it's behind us, wilfred, but certainly the markets are reacted well. you're not seeing signs of stress in the credit markets. you have global equities within 2% of where they were

pre-brexit. i think the currency markets have shown unbelievable stability. the dollar is only 2% higher on a trade basis since brexit. so not a lot going on as much as you would expect given the news. >> give us a run through of the industries you want to own into what is going to be a busy earning season and whether we're still in an earning's recession or not. >> we think earnings are going to come in better than expectations. certainly the dollar is lower than it was in q 1 and oil prices are higher. i make would make the point when you look at the s&p 500 today. some of the companies now yield more than the 10-year treasury. and for the first time, the s&p yield is back above where the 30-year treasury was in 2009. so both of those are bullets for stocks. we think the outlook looks good

for health care. son assumer discretionary has gotten beat up a little. industrial and technology is where we favor going into the earnings season. we fade more of the defensive yield plays that are pretty expensive in our books. >> worst performers to date, ba banks. >> bank haves faced difficulty. i think you'll see second quarter earnings be a difficult environment for financials and energy probably will be the two weaker sectors from an earnings growth stand point. >> what are you expecting out of guidance given the huge uncertainties like the election coming up later in the year. >> actually i think guidance make take higher into the second half of the year. we would subject a pickup for q 1 growth. i think it looks better on the second half of year.

>> we'll leave it on that positive note. >> that's it for worldwi"worldw exchange" this morning. "squawk box" is coming up. have a very lovely day. we mean what can we do? we mean it's our turn. to do our part. to serve you, for all you've done to serve us. ♪

good morning: european stocks picking up speed. we're going to tell you what to expect from today's adp report. it comes on wednesday. i guess because of the 4th of july. then we had a food deal breaking overnight. i think it should be danone. buying whitewave which is the producer of silk almond milk and horizontal organic. it is a buzz. loretta lynch closing the

case on hillary clinton's private e-mail server, but house republicans set to grill comey, the fbi director today. it's thursday, july 7, 2016. "squawk box" begins right now. the heat is on. that's right. it's going to be so hot in new york. >> it already is. >> i love summer. >> good morning. welcome to "squawk box" on cnbc. u.s. equity futures at this hour are suggesting a positive open. dow would open by 16 points. nasdaq by nearly 7. mimics what we saw overnight in asia. another shocker.