good morning. earnings are out. microsoft shares. company sores more than 100%. see what the ceo has to say about the business coming up. >> the summer of stocks. the dow closing in another all-time high. >> plus pokemon go problems. nintendo shares slammed overnight over reports in the fames roll out in japan. it's wednesday, july 20, 2016. and "world wide exchange" begins right now.

>> good morning and welcome to "world wide exchange" on cnbc. i'm sara eisen. >> and i'm wilfred frost. plenty to cover this morning and we'll do that in just a minute. da day three of the republican convention, make america first again. donald trump is now the official gop nominee. among those scheduled to speak tonight in prime time are former rival ted cruz and marco rubio. we'll have a live report from cleveland a bit later this hour. >> welcome back from the land of brexit. it's good to have you back. >> it's moved on. it's not the land of brexit. it's the land of changing of the guard in uk policy. let's get a global check on markets this morning. looks like the gains are set to continue. it's been a bullish session. you left wilfred and the stock

market shot right up. dow futures up 62. up six. nasdaq up 23. the s&p actually did pause for the rally yesterday, but the dow did manage to close higher for an eighth session in a row making a new all-time high following in the footsteps of europe this morning. not quite the enthusiasm you're seeing in the market. certainly well off those record lows. nothing in the way of economic data today, but we will get to more later in the week. in general the economic surprises have been positive. the city striez index is at an 18-month high. that's something we have not seen in a very long time. >> interesting point you made on the bond market. in the uk the market hasn't really done that. that's yields close to record lows. that's one of the reasons we saw the pound in the last couple of

days. european equities in the green. this being not as positive as last week, but looking at significant gains. around 1% for germany and france the ftse 100 up just shy of .5%. looking at gains. hong kong up 1%. straights times up almost 1%. shanghai down around .25%. >> as for the currency market, the british pound was weaker yesterday and reserves that this morning. hovering in these levels, 1.32. >> i think the pound obviously got a rally last week when we didn't see the cut in interest rates. we've seen it come back again as people are really sure we're going to see easing in august and chancellor say store manager

fir the first response. i was was a print strong hint from mark carney. >> as for the dollar yen i would point out stronger. also overnight the chienz currency jumped which we know global investors like to see. let's just quickly show you the euro dollar as well. it is weaker dollar strength. at a four-month high. the u.s. market is rallying alongside that as u.s. data and earnings have all come in better. we're seeing this sort of asset rally dollar in stocks. see if it can continue. the oil picture, not a lot of action in oil lately. stronger this morning, but just by a quarter of percent. gold quickly has come off of its recent highs and is down again a little bit.

modest losses this morning. >> yesterday closed at lowest since may. not a 2016 low we're looking at, but somewhere away from that $50. >> 45 to 50 region. >> lost a bit of steam. >> tech has been a bright spot in the market this week. >> it has indeed. >> worth mentioning the earnings in general. >> morgan stanley will round off the banks today in the big banks and they've been much better. go goldman sachs a decedent performer. microsoft reporting better than expected results. switched the firm's focus from pc sales to the cloud. on last nights earnings said that strategy is paying off. >> let's get into is specifics of the intelligent cloud, an area of massive opportunity as

we are clearly one of the two enterprise cloud leaders. companies looking to digitally transfer need a trusted cloud partner. as a result the revenue grew by more than 100% this quarter. >> that's the first time annual sales have fallen since 2009, but the shares up about 4% premarket. they liked it despite that revenue. it's amazing they can be offsetting the declining pc market at all and the cloud is certainly doing that for him. >> he is receiving a lot of credit as he should for taking the reigns of this company. he was looking at mobile. made that $9 billion acquisition of know kia. now is proving the cloud transition as worked.

"new york times" putting it is only real contender to amazon when it comes to cloud dominance. we know aws has been dominant and growing. europe's largest software company posting a 73% increase. lower restructuring cost did help that firm along with growth in the cloud business as well. strong growth in the high margin passage software license. >> hasn't seen an impact from brexit so far. >> yes, we were aware of the brexit issue. no, there was no impact from it. and this follows history. when there was the greek debt crisis or china global crisis, we seemed to be in the mix of growth because they need our

software to navigate through these choppy waters. makes it a very resilient asset in the software industry. >> let's look at the share price reaction. positive. investors like the news. the stock up about 4%. >> the pokemon rally taking a pause as giving up some of their huge gains following the record breaking success of pokemon go partly because of reported delay in japan. game developer planned to launch there, but cancelled out of fear that hype for the app would overload services. so lost quite significant today. 12 .6. >> look at that chart. >> it hadn't realized it didn't launch in japan yet. >> have you played. >> you're way behind. >> a lot of people playing it in the uk. it only launched when i was over there. >> that's what happened here. >> it swept up a lot of people. >> have you played. >> i have not.

it's very much a presence in my household. >> in other corporate news that everyone is talking about roger ailes looks to becoming to an end. telling cnbc a decision on his future is near and it will likely result in his departure. sued earlier this month claiming that her career was sabotaged by ailes after she refused his sexual advances. ailes has denied the a allegations. other reports saying megyn kelly told investigator that ailes sexually harassed her in the past as well. f fox issuing a statement saying that the investigation is still ongoing and ailes is still at work. the exit negotiations are well under way. >> quite a change in tune from the murdoch. only a year ago he resigned and

said unequivocal spoupport. >> and such an end of anner ra for a man who created a $3 billion brand, fox news. >> also stocks to watch today, inti intuitive surgical climbing double digits on that p intuitive hiking the outlook and shares are up 6.8%. valeant getting the okay from fda. that is up 4%. and discover financial results helped the firm's numbers all be it the share is off 3%. >> other names to watch today, united continental reporting a decline. the company also adding a member to the board of directors and authorizing the repurchase of

additional $2 billion of stocks. unny lever. >> chesapeake energy are being sued. that i have say the company inspired to rig for drilling rights. >> earnings once again front and center today. before the bell we'll get word from abbott labs, hall burton, morgan stanley. and american express, ebay, intell, qualcomm and mattel. don't miss an exclusive interview with james gorman. that's on squawk on the street. >> one not to miss. as we mentioned intell is reporting it's second quarter reports. >> reporter: the sfreet is

looking for intell to earn, but beyond the numbers. here are three things to watch. first, pc demand. most analyst expect outlook for the market will improve following better than expected shipments of notebooks in june. intell accounts for the largest portion of the revenue. could lead to a rally in the stock. take a look at the shares of intell. they are up more than 9% in the past month. a second indell data center group says this is key and should be better as it comes off much yeaeasier comparisons. it is a growth business as it continues that transition to the cloud and last but not least investors expect intell to chach a big porks of the mobile chip business for the iphone 7. >> thank you very much for that. another big companies reporting

today to focus on. nothing on the political front national live to watch. theresa may will host her first prime minster questions in the house of commons today. then travels to berlin for her first overseas trip as prime minster. she will have a working dinner with angela merkel. that will be absolutely key to sense whether she can further any kind of negotiations before invoking article 50. >> as we follow boris johnson as he meets with other foreign leaders. we've been watching that all week. >> continue to get coverage abroad than anybody else. >> he's behaved. >> he's behaved, but not escaped. >> speaking of controversy, crosswa gawker founder nick denton, hogan won $140 million for invasion of privacy after gawker

released the sex tape. that decision is for peter teal who now helped fund hogan's lawsuit. >> pimco is shaping up the executive ranks. manny roman is the new replace in november. roman is a former banker. he has been the ceo of man group. one of the world's largest hedge funds since 2013. still to come, mooins pike preparing to address delegates at the convention in cleveland. when we come back. cathy's gotten used to the smell of lingering garbage...

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call today and ask how to get these savings plus a $250 prepaid card. comcast business. built for business. welcome back to "world wide exchange." let's get you up to speed on the market yesterday. the dow continued its march higher. that's expected the same again today. the dow higher by around 70 points in the premarket. gain seen also in the s&p. one of the reasons could be oil prices. yesterday they closed add a fresh low since may. today we a bouncing back a little bit by around .45%. now to politics it is day three of the republican convention. today rnc theme, make america first again.

tracey pods joins us live from cleveland. what's on the agenda today. >> reporter: it's mike pence's day. he's septembering the vice presidential nomination right here on the stage. we're also going to hear from a couple of former trump rivals. not billed as head liners, but they are on stage tonight. one more child of donald trump as the family tries to make the case he's a down to earth guy who with really understand the middle class. >> reporter: it was donald trump's family that put him over the top. >> congratulations dad, we love you. >> i formerly declare donald j trump and michael r pence the republican nominees for president and vice president of these united states. a divided party settles on trump with more than 1700 votes. >> together we've achieved historic results with the

largest vote total in the history of republican party. >> reporter: tonight indiana governor mike pence accepts the number two spot. >> she fights for the wrong people. she never fights for us. >> reporter: trump's attack dog chris christie creating a mock trial on stage. >> guilty or not guilty? >> guilty. >>. >> reporter: making a more personal case, trump's children. >> my dad is a natural born encourager. the last person who will ever tell you to lower your sights of give up your dream. >> when people tell him it can't be done, that guarantees he gets it done. >> tonight newt gingrich and rubio talking on making america first again. >> >> reporter: that is what happens here. outside the room we've seen

intense demonstrations between rival groups, but those protesters were mostly surrounded by officers. more officers than protesters so they've been tense, but not violent. only a handful of people arrested this week. when we come back, sports news. tiger wood's plans for the rest of golf season. >> national forecast from the weather channel. >> hi. let's take a look at the forecast across the country. we can see showers. heat continues to be a huge story. not just in parts of the strl and southern plane planes. conditions in part os of the grt lakes against cleveland. i would expect the mix of sun and clouds. maybe a straight shower.

atlanta 95 degrees. out to the west, heat in the desert valleys. for la just warm times for you. seattle 79 degrees, mix of sun and clouds. stay tuned we have more coming up in the commercial breaks. you're watching "world wide exchange." ...coach gilman used his cash rewards credit card from bank of america to earn 1% cash back everywhere, every time. at places like the batting cages. ♪ [ crowd cheers ] 2% back at grocery stores and now at wholesale clubs. and 3% back on gas. which helped him give his players something extra. the cash rewards credit card from bank of america. more cash back for the things you buy most. the cash rewards credit card from bank of america. that i would never le become a superhero. [singing indistinctly]

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market. pointing to a higher open. continue to build throughout the morning. dow up 80 points. a stat worth noting here thanks to peter shack, eight days in a row we've seen the dow close higher. we have not seen that kind of winning streak in three years. it does look set to continue. just quickly show you the currency board. better sentiment in the weak ee japanese yen. better tone in overall markets. the british pound has been the battered currency of the year is higher today. oil quickly rising as well just adding to the better sentiment i would throw in there microsoft which is up 4% after hours on better results that 100% growth. >> only one sector in the s&p year to date is still in negative territory. >> financials.

>> despite rallying recently. >> it's down less. >> down only 1%, but highlights the broadness of the rallies we've seen today. maybe morgan stanley can get it over the line today. entertainment world is mourning the death of writer gary marshal. he died this morning have economy occasions of a stroke. odd couple, happy days and, . he also acted in more than 80 shows and films including a league of their own, which was directed by his sister. called marshal, quote, larger than life. funnier than most, wise and the definition of a friend. >> tweets calling him a great, great guy and the best casino boss in the history of film. >> i miss gary already.

he leaves a huge void for all of those who were luck to be in his orb orbit. a great friend. >> so many big hits there. let's switch gears to sports. don't expect to see tiger woods back on the golf course any time soon. the 14 time major winner has pulled out of next week's pga championship. the decision isn't a surprise. it also means this will be the first time woods will go an entire year without playing a major. ti tieger's agent says he wouldn't play as he continues to rehab from his injure. >> take his time, come back, and take the world by storm. >> that's what his fans are hoping. >> i think he will. still to come, futures are rallying, we have a ton of earnings short. what to expect on day three at the rnc. you're watching "world wide exchange" on cnbc.

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today. ice presidential nominee preparing to address today. good morning and welcome back to "world wide exchange" on cnbc. i'm sara eisen. >> i'm wilfred frost. very good morning from me as well. futures higher to the tune of 80 or 90 points for the dow. 80.99 to be precise. nasdaq by around 30 points. dow has continued the march higher. s&p closing yesterday with losses, but very small losses and on low volumes. in general the u.s. equities on a geed streak. european equities performing well this week. today is a strong set of numbers. in fact they've extended gains in the last hour or so. the ftse 100 relative lag up.

only north .40%. asian performance today a little bit mixed, but in general positive as you can see. hong kong up 1%. japan and shanghai were just bl below flat. >> that was good. let's show you the broader market picture. even oil is getting a lift. oil prices have shed 3% over the last few trading days. wti still below. brent up half a percent just below $47 a barrel. it's wednesday. we'll get the government stockpile data. if we see that, that would be a ninth week in a row. as for the bond market action, yielding taken a bit higher there. nothing extreme. into the 150 region. demand for stocks, that's been the theme. the dollar has also been stronger interestingly.

the dxy at a four month high. the euro coming offer a bit. the dollar stronger against the yen as well. 106. that takes us to level pre-brexit result. the british pound still hovering in the lows. that's the one that has not recovered from brexit. 1.3176. i would quickly show you kwoeld which is coming off on to stock market rally. and gold prices 1326. down little less than half a percent. >> people selling bonds to buy equities while earnings are coming in better than expected. that's a reason to be positive and believe this rally can continue going. the issue is the equity really has only been driven by those factors for a week or so. the whole rest of the year it's been central bank driven. the recent week has been

positive. will that continue or return to needing central banks. >> economic data coupled with earnings have looked better. nothing amazing as michelle meyer bank of america told us yesterday, but better than expectations and that is the is the key. psychology important like microsoft last night. >> underlined by the fact the dollar has been stronger and yet markets have continued to go higher. suggesting not just central easing. among today's top stories. microsoft shares rising. results driven by growth in cloud business. >> we see customers choose microsoft for three reasons. they want a cloud provider that offers solutions that reflect the realities of today's world. they want higher level services to drive digital transformation and cloud open to developers of

all types. >> calls it a pivotal transformation and has significant momentum. the shares up 4% in premarket. >> and technology the best performing sector that week. there's an earning story underpinning this market: some other stocks to watch today, sap posting better than expected results. strong growth in high margin passage software licenses and shares responding positively. shares of nintendo dropping today. the decline coming after reports of delay of pokemon go introduction in japan. have these shares been on a wild ride. down 12.5 overnight. >> that par bollic move higher. bhp falling short of expectations.

citing brazil as a disaster. >> shares under pressure. total rose 4%. the credit card spending was on the low end of the company's target range. uniform rental campaign, sin tas posting better than expected results. united airlines also, shares off half a pktd in the premarket. >> a lot more earnings movers to watch today. they will be taking center stage before the bell. we'll hear from abbott labs, all burton, morgan stanley. look for ebay, qualcomm, and mattel. on a programming note, don't miss or interview with morgan stanley ceo james gorman. >> also on today's agenda, the gop convention. mike pence will address delegates tonight. joining us from cleveland with a

look ahead of what to expect along with the highlights from last night. >> reporter: good morning. you can take the word presumptive out of the phrase presumptive nominee. donald trump fishlgly clenched the party nomination for president of the united states last night. when they did the roll call of the state, new york state actually passed on the first go round so they could be the state to put trump over the top. when the moment came, it was his son who did the honors. here's donald trump junior last night. >> it is my honor to be able to throw donald trump over the top in the delegate count tonight with 89 delegates. and another six for john kasich. congratulations dad, we love you. >> so a big moment last night for the trump family. still some political trouble for donald trump's campaign in that more than 700 votes cast against him.

that is the highest total since 1976. that does indicate dissension in the ranks of the republican party. that have is why paul ryan was on the stage to call for unity in a party that's been struggling for it all year, here's what he had to say. >> what do you say that we unify this party? what do you say that we unify this party at this usually moment when unity is everything? >> reporter: paul ryan obviously was reluctant to endorse donald trump early in the season. he's been very critical of the presidential candidates campaign style, his personal style, some of the comments he's made out on the campaign trail. obviously he came around to the endorsement, but reluctantly he made the speech last night and tonight we're going to see mike pence the new presidential pick going up for a national audience trying to frame this republican campaign in a way they can take it to november and take it to hillary clinton who was really the big topic of conversation here inside the haul lall last .

that seems to be the one thing they agree on here is that don't like hillary clinton. >> that's what i was going to ask you. you've been there for several days. you've heard all the speeches. even the ones we don't see see. i'm just wondering how much of the donald trump and republican message going into this election is trump's ideas about making america great again and how much is just hatred and anti-hillary clinton messaging? >> there's a lot of anti-hillary clinton messaging. a lot of folks were commenting the theme of yesterday's convention was supposed to be put america back to work. talking about the economy, jobs, creation, all that. and yet what we heard up on the stage behind me here was a lot of rhetoric about how awful hillary clinton is. that is something republicans agree on. you need to unify around some core principle, but when you look at the republican party and what's happened to it, you see

the chamber of commerce. very worried about donald trump's position on trade for example. a lot of splits on foreign policy. you know, issue by issue, there's not total agreement in this hall about where this country should be, but nonetheless i they came to an agreement last night on who the nominee should be. >> it's not total unity and agreement on all issues, but i suppose if you flash back to two or three weeks ago and more focused on political developments and when you snap back now to where republican situation is there's a lot more unity than you might have expected. you've got two of his rivals tonight. that's significant progress, isn't it? >> it is progress, wilfred. absolutely. we're also out on the street yesterday. you talk about the split inside the hall, there's a split outside the hall. we had black lives matter protest yesterday. we were out walking with protesters who were against

par police violence. talking about the need for police to restrain themselves in this country. it is heated out there. you have the split within the republican party and the larger split in the united states of america. maybe that is the thing that mirrors what we saw with that brexit vote in lond. >> i know the republicans are trying not to dwell on the speech, allege d plagiarism. i find it interesting donald trump weighs in on everything, on twitter, every controversy that comes his way, and he has been very quiet about this one. >> there's an effort to find who to blame on this one. it's important to find somebody to blame and make sure it's not you: a lot of aides are doing finger pointing behind the scenes. you're seeing some leaks to the newspapers this morning.

finding out who wrote that speech, who had the final read. some of the former campaign aides are pointing fingers at the current aides saying they should resign. it's an embarrassing moment. i talked to a key leader of the conservative movement yesterday and he told me look, ultimately he thinks the media is making too big a deal out of this issue as conservatives tend to see it, but a big opportunity cost for a republican party. you don't get a night like that very often out on the campaign trail. 35 million people watching that speech. and it was flubbed ultimately and that was the problem for them. they missed an opportunity to introduce themselves on a strong note here in cleveland. >> question going forward is will voters care. >> look everybody is looking to the future of the country. that's what people are going have to make a decision about in november. two sides nominating candidates with very high negatives. we saw that in the street

yesterday. saw that in the hall yesterday. >> amman, great stuff. covering the conference throughout the day. now to or top trending stories of the morning. all the drama at fox news is hitting newsstands this morning. the cover of the new york post post showing photos. bill o'reilly, anythingen kelly alongside the words what the fox. ailes is negotiating his departure from the network. sued earlier this month. after she refused his sexual advances. ailes has denied the eallegations. >> so much coverage. we'll continue to monitor it. another trending story, soon it will be much easier to score yourself a blue check mark on twitter. verified county while the process of becoming verified is changing the requirements for verification are staying the

same. >> when we come back, today's must read stories, but first here's a look back at this day in history. papal had its ipo a year ago today. the value of the company more than $50 billion above ebay's own valuation and papal shares are up less than 2% in the past year while ebay is down 5%. "world wide exchange" will be right back. qo:é@d8j8j8j

welcome back to "world wide exchange." in the wall street journal. trump's mum supporters. by saying they'll vote for him. this is understandable. in fact it's a no-brainer. of course how you vote and what you say about your vote can be two different things. the reason i focus on this one is because i think there is a big similarity here with what we saw with the brexit vote. a lot of people previous e previously saying they weren't going to vote for brexit according to the polls and then they did. there's some high profile republicans not coming out, but a lot of people across the country may be secretly planning to vote for trump even though they're not saying it. the outcome may not be as bad as people suggest. there will be a congress where

laws have to get passed. >> in other words, it's not as socially acceptable to say you're voting for trump, but then behind closed doors you do it. >> and the outcome wouldn't be as because as people are fearing as well. it's a good perspective to take. some similarities with the sources in uk. >> so hard to poll. so hard to trust the polls and vetting hods. >> my must read is in the financial times. since you didn't choose it, i did. global elites must heed the warning of pop list rage. i picked this because wolf outlined some specific to do list tasks for policymakers in order to protect civilization, he says, from the likes of donald trump just totally taking over. one of those ideas is reform capitol hi capitalism. the shareholders are given

excessive weight over those of other shareholders in corporation. just an idea there about and he does sort of five or six point plan about what the policy elite should be focusing on. focus more on climate change instead of on global trade. focus on the fact that wages haven't budged in years. i across the developed world. >> hard to define and ledge late for. theresa may's rhetoric has suggested she will clamp down on excessive management pay and trying to equalize things. very tough task ahead. >> we are approaching the top of the hour. that means the team is getting ready for "squawk box." andrew, a look at what's coming up. you've done some good reporting on the story this morning, the ailes saga. >> i have been. i was on the phone and up late not only watching the republican

convention, but trying to make some sense of where we are on all this. as you do know, we reported and others reported we are getting close to the end here and it does appear that roger ailes will be leaving at some point. i should tell you however some of the sources suggesting it isn't over just yet. looking for a rebecca brooks deal. you remember the phone hacking scandal in the uk. she was saved from that in many respects. there's still some hope that rupert murdoch is going to come back and save him in all this. i should say by the way when i say come back and is a save him. he's in europe on vacation at the moment and so while the two sons, james and lockland, have been working on this, there is that going on and there is a hope that when rupert comes back next week this is all going to change. of course this may all end

before this week. the other issue is about the money. and as you know, you probably saw just yesterday a drudge posting what looked like a separation agreement or a draft separation agreement that would entitle him to about $40 million. he would have been entitled to had he continued to his contract. $6.2 million in salary. 25 in invested and 20 medical on top of that in bonus. the question is however depending how the investigation goes. i should caution everybody, there's been no board meeting about all of this at 21st century fox. you can take what you will from that. nonetheless, the reason i mention the money, if in fact he has been found of true swarmt and things we don't know about. it's unclear whether you can and would pay him out and whether

you should legally pay him out because it could expose the company to more litigation. these are some of the weights that are going on back and forth. we're going to be talking to someone in the 7:00 how about all this and more so the meaning or the future of fox news without roger ailes and what that looks like. roger ailes has been compareds to steve jobs when it comes to the world of news: so we'll be discussing that in just a little bit. >> such a juicy corporate story. >> andrew, thanks very much. look forward to "squawk box" in nine minutes time. still to come on "world wide exchang exchang exchange", raymond james chief investment strategist. speaking to jeff in just a couple minutes.

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welcome back to "world wide exchange." yo your wall street setup looks positive. san diego up 29. the dow is on an eight session winning streak closing at yet another all-time high yesterday. s&p didn't quite manage to do it, but what's important there is it held its recent gains. stocks are firmly positive for the year. so far this week, it's been a story of better technology and better banks. and that points to a better earnings environment. >> indeed. i think, you know, the interesting aspect of the latest banks was that continued a bit of a positive surprise. i wonder whether that's bakd in with morgan stanley reporting today they already moved significantly and whether they can beat expectations remains to

be seen, but it is still the only sector in negative territory for the year. that comes down to the fact yes, we're surprising, but are we at goldman sachs which is one of the better ones, still away below where banks would like to be on this area and still significant challenges for the banks moving forward. all be it they beat expectations slightly. that's a story across all earnings: we're betting like we did in q 1, but on lower expectations. >> what are those beats driven by? meaningful revenue gains. fixed income commodities, trading, thanks in part to the brexit results and what we saw in bonds and currency after that. some of the other themes, there has been better loan growth, right. especially the domestic banks. >> i think the point on the revenues is people could be one quarter only. it's been driven by an outside

gop political shock. not by fundamentally positive trades across trading revenue. now the brexit factor is gone, will trading revenues drop off in that area. certainly it was positive this quarter. on the core area, everyone was expecting the terrible moves we've seen in the yield cup. we're still in positive territory. we did get that rate hike. >> better year on year. and the spread sfuf is based on the short end of the curve. there have been positives, but we've seen moves in the share prices. because they've moved up with the others over the last week. >> we'll get morgan stanley, hear from abbott labs. that's all before the bell. after the bell, american expr s express, ebay, qualcomm, mattel and morgan stanley interview. that's cnbc exclusive again. and it will be a good one.

very little in the way of economic data. it's all about earnings. "squawk box" coming up with a lot of focus on the rnc meeting too.

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good morning. the summer of stocks. the dow on an 8 day winning streak. the futures pointing to more green arrows. microsoft is jumping as cloud revenue sores more than 100%. we will hear what the ceo has to say about the business coming up. it is official now no longer presumption, donald trump becoming the gop presidential nominee. on a night that saw heavy hitters unleash blistering

attacks on hillary clinton. the latest from cleveland is straight ahead. it's wednesday, july 20, 2016. and "squawk box" begins right now. good morning. the dow continuing to march higher coming off of eight straight positive sessions. it's the longest streak since march of 2013 and we heard it here first right here on the broadcast. it was called the trump rally. going along with -- >> who you listen to. >> i love when harold hams comes on our show as well. we'll have to think about it. >> y