the trump administration threatened more sanctions against venezuela. >> you could see gas prices rise issues of job losses. >> if you want to get something done, it is not earlier than 18 and you have to get something to entice the democrats to play i think the best bet is infrastructure good morning earnings and the economy front and center as wall street is ready to kickoff a new week. we have your setup straight ahead. venezuela vote violence, russian retaliation, and growing north korean threat. we are on the frontlines of three big developing stories abroad. breaking overnight, charter reportedly says thanks but no thanks to sprint details coming up. it is monday, july 31st, 2017 and "worldwide exchange" begins right now. ♪ ♪ good morning welcome to everyone.

i am in for sarah ice en. >> as we talk about what's happening, check the global markets. we are seeing a little strength to start the day, at least for right now. take a look at what's happening. s&p 500 futures indicated to open by 3.5 on regular session side dow-jones futures pointing to 46 point open, nasdaq pointing to 13 point open as well. let's check on what's happening with ten year u.s. treasury note yield, holding steady the last couple of days, 2.29% the last trade there. ten year note yields holding in that same band wave seen for the past two weeks stocks in asia relatively higher we had data in china, official manufacturing coming in 51.4 for july, slightly below expectations china official nonmanufacturing missing estimates, but above 50. signaling expansion and that's what the asian bulls want to

see. i would add japanese industrial production recovering for the month of june. positive session for heng seng south korean kospi flat on the day. as we set up early trade in europe, key inflation data the metric to watch outfor tomorrow right now, mixed day german dax up one-tenth% as the pound continues to strengthen. look at the broader macro markets. oil is a trade been in focus the last two weeks wti crude prices hovering around $50, $49.68, the last trade there. marginal weakness. ice brent crude, 10% to the down side 52.45, the last trade there. oil is certainly a focus driven perhaps by kurcurrency

trade. as for gold prices, i mentioned before, relatively steady. we have seen this gold trade moving up and down 1273.30, the last trade there, down two-tenths of 1% in early trading. a lot of macro side is driven by what's happening with currency markets and oil prices continue to be a focus, especially because markets want to see whether or not there's any follow through from opec commitments to cut production. >> what's striking to me, last day of the month of july gold up 2% for july. oil, give you the stat, wti, 8% for the month on pace to break a fourth month losing streak

there was a school of thought that opec was losing credibility because the market kept moving lower. we're seeing a bit of resilience, not today, but the broader story has been the rebound in oil and if it continues, will foreign policy angie oh politics be injected into the conversation with venezuela, some talk about the united states implementing trade sanctions. that could hit the supply and demand equation. >> there's talk of whether venezuela could be the first oil state to go through turmoil because of pricing dynamics and economics of the oil prices. >> not to mention the political crisis. >> with oil, remember we talked about it so much the past few months now, this idea that you have the u.s. as the swing producer in the markets and whether or not those prices will be encouraging enough to get people to start pumping more in the united states. >> sure. >> people sometimes laugh at me because i love watching --

>> i look forward to your updates. today we get chicago pmi, pending home sales tomorrow, personal income, ism manufacturing index, july auto sales. wednesday, adp employment report factory orders thursday. all topped off by a july jobs report friday. now on the earnings front, about 120 companies in the s&p 500 report results this week big names, pfizer, apple, aig, tesla. a lot of big names >> everyone will be watching apple reports tomorrow to top corporate story, charter communication says thanks but no thanks to sprint landon dowdy has all of the details. this could be a huge deal if it were hypothetically to happen, right? >> dom, it could be, cable

operator says it is not interested in buying wireless carrier sprint, follows news friday that sprint was interested in merging with charter to create a mega media outlet controlled by sprint parent soft bank charter rejecting that deal saying we understand why a deal is attractive for softbank, but charter has no interest in acquiring sprint the ball is now in the court of the sprint chairman. "the wall street journal" reports while charter's announcement could effectively kill the possibility of a deal between the two companies, that might not stop him from making a formal offer anyway. recently started reversing years of subscriber losses, yet to turn a profit. stock up about 3% so far this year take a look at what they're doing this morning shares of sprint above 6% in early trading. back to you.

>> it is so interesting. we haven't even talked about the idea that sprint and t-mobile may be an option to merge together, and everyone it seems chasing at&t with regard to what's happening at&t has the directv, with time warner, content side of things, you wonder why everyone is chasing that kind of model talk of whether or not comcast might be -- >> another player. consolidation is clearly a big theme. we have more stocks on the radar, hsbc. take a look. second quarter profit rose 57%, beating forecasts. european bank says it continues to see benefit from a turnaround plan that's launched in 2015 hsbc announced a buy back of stock, about 2.5%. heineken better than expected results first half of the year dutch brewer saw strong profit

growth in europe thanks to late easter holiday, early start to warm summer weather. not only heineken, another beer company did well sam beer, had a market flash thursday there you go see if it continues. sanofi raising outlook after strong second quarter sales growth in consumer health care and vaccine division. the fda granted break through status for its drug to treat nonmetastatic lung cancer. it paves the way for speedy regulatory review. shares up by 1% in british trading. honeywell stock could rise 15% as earnings climb. the magazine positive on the company saying it has plenty of opportunities to grow, especially on the software side of things. you can see there.

bar ons positive on advance auto parts. believes it could grow 20 to 30% as they benefit from solid u.s. auto sales, and these stocks, o'reilly, advance, auto zone have taken hits the past few weeks. interesting to see somebody calling the bottom talk politics. it is day one for president trump's new chief of staff general john kelly will be sworn in later this morning at the white house. the president announcing late fly that kelly would replace reince priebus as chief of staff. mr. trump offered praise for kelly and thanked priebus for his service to the country. in other news out of washington, president trump threatening to end government payments to health insurers if congress doesn't pass a new health care bill trump tweeting over the weekend if a new health care bill is not approved quickly, bailouts for insurance companies and bailouts for members of congress will end very soon. we also heard from health and

human services secretary tom price over the weekend here's what he said about the obamacare issues on "meet the press. >> what the american people understand is that their health and well-being is being harmed right now by the current law, so our goal is to put in place as well as the president's goal, to put in place a law, a system that actually works for patients you can't do that under the current structure. >> price went on to say he will uphold obamacare, calling it, quote, the law of the land. still ahead on the show, we are following three big developing stories oversees, controversial vote in venezuela, continued follow-up on the missile test and russia retaliates against u.s. sanctions. headed to the frontlines of these big stories ahead. as we head to break, a check of oil prices. like we said before, wti, last aderthe. "worldwide exchange" will be

back after this break. ♪ (music plays throughout) ♪ ♪ ♪ ♪ ♪ we check our phones 85 times a day.

so it only made sense to create a network that keeps up. introducing xfinity mobile. it combines america's largest, most reliable 4g lte with the most wifi hotspots nationwide. saving you money wherever you check your phone. yeah, even there. see how much you can save when you choose by the gig or unlimited. call, or go to xfinitymobile.com. xfinity mobile. it's a new kind of network designed to save you money. welcome back to "worldwide exchange." i am dominic chu if you're headed to work, get you up to speed. futures point to a positive opening. if all stays the same, s & p would open by three points, dow-jones up by 42 points, nasdaq by 9 to 10 points so far. as for trading action in europe, we're seeing a little of that

tone being set there mixed trading, dax is flat, cac in france flat as well ftse, up by a half percent in early trading. dom, following three big international stories this monday morning first, a tense situation in venezuela after that nation holds a highly contested election we're live on the ground in moments. more fallout from this weekend's north korean missile test. a live report from asia. and russia retaliating to u.s. sanctions. start with that story. russian president vladimir putin says the united states has to trim more than 750 people from embassy and consulate. this comes as the president gets ready to sign new sanctions against russia that were passed by congress. the state department calls russia's decision to cut hundreds from diplomatic staff regrettable and uncalled for act. we're following a developing story out of north korea after that nation launched an

intercontinental ballistic missile eefr t missile over the weekend they responded by sending bomber jets over the korean peninsula in a show of force yesterday u.s. ambassador to the u.n. tweeting yesterday she's, quote, done talking about north korea, adding that china must act her comments echo sharp words from president trump over the weekend. the president also tweeting i am very disappointed in china our foolish past leaders allowed them to make hundreds of billions of dollars a year in trade, yet they do nothing for us with north korea, just talk we will no longer allow this to continue china could easily solve this problem. so joining us now from beijing, how are things playing out when it comes to china in this relationship with north korea?

>> well, not very well when it comes to chinese state media they are reacting strie dentally to president trump communist party paper the global times ran an editorial reads trump's claim china could easily solve this problem is a statement that could only be made by a green-horn u.s. president who knows little about the north korean nuclear issue also said the idea china could change north korea's behavior is an absurdity that's a regression by the state paper. what's interesting about it to the time we saw a mocking tone of the president late last year. officially chinese reaction has been critical but subdued. there's a statement by foreign ministry ahead of comments out of the trump administration, and it reads that china is opposed to the launch activities, but the government is still calling

on all parties to act cautiously hasn't commented, but the commerce minister is focused on the link president trump was making in his tweet between the north korean nuclear issue and the u.s., china trade issue. he said that these issues should not be linked because they're two completely different domains. pretty interesting chinese officials i speak to, this is a persistent concern they have that the two issues are being linked. >> and one question here, what will it take for china to step up to the plate and perhaps help the united states to counter a very aggressive north korea and their leader kim jong-un any knowledge or guidance you're getting from the beijing government or folks there? >> i think what it will take us something where beijing feels it is within its own interest to

finally act. from what we have been seeing in state media, there's still a lot of push back, despite the fact president trump is complaining and tweeting things that there is still a feeling among people in beijing in the government that their hands are tied and that there isn't necessarily a willingness to go along now. >> arguably, the most important geopolitical story on the stage. thank you so much. thank you. following a story out of venezuela, protests are turning violent in the wake of the nation's election and referendum the venezuelan president claiming huge turnout in the vote for constituent assembly. opponents say the election gives the government the power to rewrite the country's constitution joining us now on the cnbc line, financial times reporter gideon long thank you for joining us today help us understand reactions so

far to the referendum, vote, and what you're seeing on the ground >> reporter: what i am seeing on the ground, at a polling station yesterday during the vote, people were there but weren't there in great numbers, people were very scared with good reason yesterday, at least ten people died the single bloodiest day since the uprising began against maduro and socialist government in early april feeling of tension on the ground the question is what happens next mr. maduro, the president, said the new assembly he set up will come into force within 72 hours. wait to see what reaction will be from the united states. donald trump said before the vote if it went ahead, he would take swift and strong economic action yet to say what the actions are, one possible outcome could be oil sanctions. the united states is the biggest

importer of venezuelan crude, any sanctions against the oil industry will be devastating to venezuela. they would also have a big impact on u.s. refineries, there's some chance donald trump will refrain from taking action. might see more lean yens there >> gideon, it is dom give us color and context as to why these kind of events are turning as dramatic as they are. it is about living conditions there, wages on the decline, prices on the rise what's the feeling on the ground from the constituents and citizenry of venezuela >> reporter: i think two face. first of all, it is about the economy. the economy has contracted by 30% in the last five years usually only see in war zones, places like iraq and syria those have been devastating on the people it is also about the politics, about political freedom a

and erosion. president maduro tried to take over powers of the assembly, they intensified protests in may when nicolas maduro announced plans. it is about those two things, about economic impact and about policies. >> gideon, thank you so much for that update. stay safe. financial times reporter coming up, the white house staff shakeup. we hit that and all of the headlines out of d. en.cwh we come back on "worldwide exchange." stick around for your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember.

you give us comfort. and we give you bare feet... i love you, couch. ...backsweat and gordo's everything. i love you, but sometimes you stink. ♪ new febreze fabric refresher with odorclear technology... ...cleans away odors like never before. because the things you love the most can stink. and plug in febreze to keep your whole room fresh for up... ...to 45 days. breathe happy with new febreze.

welcome back to "worldwide exchange." i am dominic chu with seem awe modi a busy weekend at the white house. let's get to nbc's tracy potts with the latest out of the beltway. >> reporter: hey, good morning, everyone that big weekend turned into an official white house shakeup today, we have staff and cabinet meetings, introducing the new man in charge. law and order behind the scenes at the white house this morning. first on the president's agenda, swearing in his new chief of staff. former homeland security secretary general john kelly >> i think he will bring some order and discipline to the west wing. >> ensuring that everybody that works in the white house is on the president's agenda. >> reporter: that agenda includes health care, after failing to repeal the affordable

care act three times last week, the senate's top republican says he is ready to move on but the president is not, tweeting don't give up, republican senators. the world is watching. >> the president will not accept those that say it is quote, time to move on he wants to help the millions of americans who have suffered. >> reporter: president trump is ready to move on from russia investigations and will reportedly sign new sanctions. plus, the threat from north korea is more urgent now after reports of another missile test. >> to have trajectory which as of the latest analysis would enable it to go about 6,000 miles and maybe even hit as far east as chicago. we can't have that >> reporter: how to stop it, now under new management and that cabinet meeting today will be interesting because this will be the first time the president and the attorney general have been face to face in the same room since president

trump went on twitter and criticized very publicly jeff sessions about stepping down from the russia investigation. >> there's also news coming out this weekend, budget director mulvaney says there will be no other actions on the legislative agenda until they address this health care issue. tell us how that dynamic is playing out. are we going to be stone walled with everything else because of health care? >> reporter: could be. they wanted to be on tax reform by end of the summer, and they're not even close it will be interesting to see how it plays out the top republican here, mitch mcconnell, made it clear he wants to move on and the white house has a specific order in which they want to get things done, starting with health care. that's why the president said don't give up. he wants that piece in place frankly the fact that mulvaney, budget director was talking about that, tells you what a big chunk of the financial picture

the budget is. >> tracy potts with the latest, thank you. still to come on "worldwide exchange." this morning's top stories and roundup of global markets. snap struggling stock could take another hit today could be a big tt esfor the social media company "worldwide exchange" will be back where's jack? he's on holiday. what do you need? i need the temperature for pipe five. ask the new guy. the new guy? jack trained him. jack's guidance would be to maintain the temperature at negative 160 degrees celsius. that doesn't sound like jack. actually, jack would say, hey mate, just cool it to minus 160 and we're set. good on ya. oh yeah. that's jack.

good morning wall street kicks off a new week, futures point to a higher

open we're going to set you up for all of the market moving events straight ahead. big test for technology. why apple and snap are two names to keep an eye on. and ousted uber ceo. monday, july 31st, 2017. you're watching "worldwide exchange" on cnbc. ♪ 5:30 a.m. on the east coast. good morning and welcome to "worldwide exchange" on cnbc >> a very busy day, certainly kicking off a very busy week. >> last day of july. we are higher in premarket trade after the dow and s & p hit a record high for the month. they're higher by 2%, nasdaq continues to be the standout, up

4% thanks to better than expected earnings from facebook and others this week the names to keep an eye on, apple. dow-jones up 57 points now strong start potentially to the week nasdaq higher by 16. if you look at the u.s. ten year, big story is three policy meetings, reserve bank of australia, india, bank of england, three major central banks expected to keep rates unchanged. ten year note yielding 2.294%. as for the agency equity side, we saw a mixed picture nikkei off by two-tenths of 1% but the rest finish in the green. hang seng up to close the day. in europe, a mixed picture flatness in german, french markets. they're slightly positive.

german dax up two-tenths of 1% flat positive for cac france and data out of china is helping base commodities move higher iron ore is higher, and copper one of the reasons the ftse is outperforming in the energy market wti crude at 49.77 the big story is oil wti crude is now up 8% for the month of july. ice brent crude, international gauge above 50 52.62. the big part of the story is the currency markets look at where the dollar is trading. euro is weaker against the dollar this is more than a two year high u.s. dollar lower against the japanese yen, basically flat, and pound holding 131.

wrapping things together with gold, up 2% for the month. it actually had a positive week last week. right now lower by $2. wall street agenda heavy on earnings we get chicago pmi, pending home sales, tomorrow, personal income, ism manufacturing index and auto sales wednesday, adp employment report followed by ism services index factory orders thursday topped off by the july jobs report friday. about 120 companies in the s&p 500 reporting earnings, big names, pfizer, apple, aig, kellogg, viacom. we have breaking news, facebook shares downgraded by pivotal research they're sticking with $140 price

target they say the big run up for facebook, it is about 50% higher year to date those shares getting downgraded. facebook shares are fraction nally lower on light volume in premarket session. see if that picks up as premarket gets toward opening bell. another stock is snap. it faced challenges since going public in march. in that time frame, the stock down about 18% today could be a test for the company. early investors and employees can sell their shares as the first lockout period expires paul meeks, chief investment manager, good morning to you what do you do with pending lock out expiration, do you buy, sell, or hold? >> what i would do, i would hold the stock. we're already several dollars below the ipo price and more

than half below the top. not talking a long time ago the ipo as recently as march, but i will tell you this we have this lock up triggering some sales, particularly from the ceo, robert murphy who co-founded the company if they're going to be willing to sell shares at 13.81 below ipo price, that should be a red flag for all of us because all of us should sell our shares if insiders know the company so well and would be willing to sell at this price. >> paul, it is dominic as we talk about snap, it is an indication or bellwether, barometer for overall health of the ipo market but not the only one investors are focused on apple on deck for earnings, facebook gets a downgrade,

talked about being leaders in the market, is there relative value found in technology stocks and fang stocks specifically >> i would say overall, dom, i'm a little worried of the runup tech has had, even though i believe in my heart of hearts that fundamentals are superior to ten sectors i am worried long term they don't have another trick to follow up and drive the financial future of the company after release of iphone 8. between now and the release this fall or winter apple results could be spotty. everybody could be focused on the iphone 8 as long as they see compelling, interesting things about that, i don't know if anybody would be caring about the fundamentals in

the near term for apple. i still would hold the stock until it dropped to about 142.5. that seems to be decent support if you want to buy the stock for the iphone 8 ram the other stocks, i agree the price on facebook is high, so netflix, they did well after reporting. ones i would consider buying because they did poorly of late, google and amazon. >> google and amazon, amazon specifically, paul, we talk about the idea this is a stock that's done a lot of work for the markets overall, is there any catalyst now, any slowing momentum at all, what would you be looking for as possible siep that amazon has run ahead of where it should be now >> dom, i think it is more of a technical indicator. if the stock dropped down a bit

further to average price and holds, that would be the key to add. they already had their quarterly report the way i look at it, you never really judge that company on its overall operating results. we had another quarter in which amazon web services grew at least 40% year to year from the quarter prior. and i believe the fundamentals are fine what i think, dom, the stock holds on a technical basis, fundamentals are fine, i would buy amazon. >> thanks for walking us through trades on tech paul meeks >> thank you. >> thank you for that as well. let's move on. we have great top trending stories on the tech front. travis cal nick looking to make a come back. ousted uber ceo says he is steve jobsing it, hopes to return to lead the company again in the future cal nick who resigned from his

position in june referencing the apple founder who was fired and then later returned. this is interesting. he is one of the big faces of silicon valley, not cast in the most positive light in the past six months >> sometimes it is hard to step back from the baby you created maybe this is one of the struggles. another trending story chris christie having another bad day at the ballpark. video of the new jersey governor going viral after he got up close and personal with a cubs fan who was reportedly teasing him. he can be heard from saying you're a big shot. the cubs tan saying i appreciate it the incident retweeted thousands

of times since posted late last night. >> beach and ballparks mtv total request live returning to the air waves, it ran from 1998 to 2008, will officially be back on tv this october. trl which was formerly hosted by carson daily will reportedly have five co-hosts "new york times" reporting mtv is building a set that faces times square, similar to what we saw with trl and carson daily in the original show. >> exciting for those that grew up on trl. but without carson daily will he return as well, leave the "today" show >> he is part of the nbc family, see what happens there. anyway, now to sports. major league baseball welcomed the latest member to a very exclusive club yesterday texas rangers third baseman

adrian beltray commented his place in history by collecting his 3,000th career hit ripped a double down left field line as you're seeing, he is the 31st player to get 3,000 hits and the first from the dominican republic, joins two hall of famers, george bret, wade boggs as the only third baseman in that 3,000 hit club. tells you so much about the game of baseball. a lot to celebrate, and the fact that baseball is very much a global sport >> right. busy weekend, royals beat the red sox yesterday, i was actually at the game did you know kirk taking top spot at the weekend box office warner brothers world war ii film was down 44% from the first weekend. earning $28.1 million. that according to com score.

the film grossed $108 million domestically since release the new release, emoji movie, 25.7 million, it started out strong, it was met with harsh reviews and decrease in sales over the weekend. "girls trip" in third place. the comedy bringing in another $20 million, beating out latest film "atomic blonde. >> i haven't seen any of them. i want to see atomic blonde. big spy movie thriller thing coming up, our must read for today. solution to the north korean threat ay tuned you're watching "worldwide exchange" on cnbc. hello sensitive bladder. ring a bell? then you have to try always discreet. i didn't think protection this thin could work.

but the super absorbent core turns liquid to gel. for incredible protection... snap! so it's out of sight... ...and out of mind. always discreet. for bladder leaks. i've discovered incredible bladder leak underwear that hugs every curve. can't tell i'm wearing it, can you? always discreet underwear. for bladder leaks.

welcome back to "worldwide exchange." i am dom chu with seema mody time for must read stories catching our attention my pick is in paup, janet yellen caught between trump and a hard place. writing janet yellen is caught between president trump and a hard place by most accounts. trump is an easy money guy preferred to keep interest rates to boost job creation. for her part, yell encommitted to a gradual rise in rates and tightening of credit, going on

to say how yell enhandles these issues will shape her legacy, may determine her immediate future her term expires in 2018 hard to imagine trump reappointing her if she can't navigate fed through these approaching scholes being inflation data, jobs data, what can happen with markets. lot of things in the markets with regard to whether or not the fed can keep this telegraph course on interest rates >> one thing helped her and the economy, the weaker dollar which we haven't talked about enough, how much that impacted my pick, "the wall street journal," regime change solution in korea editorial board adding that crisis is accelerating as kim jong-un moves closer to holding u.s. cities hostage to nuclear blackmail. some in the u.s. intelligence community admit they underestimated the threat and president trump again tweeted

frustration with china to restrain the state it is notable that director mike pompeo suggested that the trump administration may be contemplating a goal of regime change in pyongyang. bottom line, we have been relying on china to lead the way when it comes to north korea peace talks. nothing has happened to the point of this article, perhaps a new strategy is needed. >> of course, regime change, never an easy thing to accomplish very controversial. approaching the top of the hour team at "squawk box" is getting ready. joe has a look at what's coming up joe, i have to tell you, all of the health care talk, nick mulvaney saying we shouldn't do anything until health care is resolved so much out of the beltway >> it is like monday morning, it's early, right? it is like 5:47. and we have a week ahead of us

think of it like last week think about that, think of the tweets that could be coming. think of the staff changes that could be coming. anthony scaramucci, god bless him, think if something is on his mind that he wants to say this week. isn't it jobs week >> it is jobs week, yes. >> jobs week, too. then you've got what sima was talking about. really new york is almost within range. what the heck are we supposed to do about this. you know, there's some stuff swirling around. we sent some of our own forces over there as a show of force. we know where some of the facilities are is that coming -- do we not know that's ahead of us at any moment i don't know it is very, i don't know that it is unsettling, i don't feel unsettled for so many things potentially in front of us. >> the markets aren't either.

>> unsettled by going up i guess. one thing i did think of to give you food for thought, dom, 3,000 hits good, not bad. there's the market today 3,000 hits as you were talking about, can you even fathom 4256 hits pete rose, how many games do you play >> more at bats, more games and everything else, but you have to play for 20 years and get, 21 years, that record, is that ever going to be beat, i don't know this guy is like wow, i got 3,000 hits you need almost another 50% to get to pete. >> to your point, joe, this is as much about the skill of hitting about keeping your body in play. >> he wasn't the most talented guy like me, not the most talented, but just hustle.

charlie hustle, every time run on a walk. he would run fast as he could on a walk we can all learn from that >> perseverance and grit >> and giving it all you've got, every single day i'm tired now after all of this. i'm giving it all i've got i may have to leave. >> thank you, see you in less than ten minutes on "squawk box. still to come, futures pointing to a higher open on wall street. your trading day set up. first as we head to break, today's national weather service forecast from bill karins. >> good monday morning, the story of the morning what's happening off the florida coast. this is a tropical disturbance, hurricane center says 40% chance of developing into a tropical depression regardless, going to bring heavy rain, nasty weather to tampa, sarasota, down to ft. myers, naples it will continue to rain during the day on and off even into tomorrow could linger.

then move toward the eastern side i don't think it will cause too much damage. the worst of it will be ruined beach day, ruined day outdoors for a lot of people in florida going through tomorrow, notice that it doesn't really effect areas in the southeast either. today's forecast, gorgeous weather. northeast, mid-atlantic through the middle of the country looking nice we will talk about the epic heat wave that will be in the u.s. not until wednesday and thursday more "worldwide exchange" when we come back they're experts in things you haven't heard of - researchers of technologies that one day, you will. some call them the best of the best. some call them veterans. we call them our team. ♪ i love you, basement guest bathroom.

your privacy makes you my number 1 place... ...to go number 2. i love you, but sometimes you stink. ♪ new febreze air effects with odorclear technology cleans... ...away odors like never before. because the things you love the most can stink. and try febreze small spaces to clean away odors for up... ...to 30 days. breathe happy with new febreze.

trading up by 50 pointsds, s&p 500 futures up and nasdaq up joining us, portfolio manager for global allocation fund at fed rated. joe kerr nan made an interesting point about the market shaking

off everything everything out of washington angie oh politically speaking. as long as earnings grow and global growth picks up, we should be getting more developments until they effect the earnings picture, could happen later this year, hasn't happened yet. >> one of the convincing explanations why tech stocks have room to run, many point out this sector is one of the only ones with strong sales growth. can that be sustained? >> when the market is concerned about growth, you go to growth that's stable, that will be there regardless if we grow closer to two or three percent those earnings are durable i would argue when you see broad revenue growth across the s & p,

earnings up 5%, best growth in quite a few quarters. >> with oil returning, it is up 8% just this month, is there a shift into energy stocks >> i have to give credit to my boss that made a long energy call earlier on this network i think the key for oil prices is that as long as they're stable enough that they're not falling year over year like year ago, that relieves downward pressure, allows earnings for the index to move higher we see opportunity there >> thompson reuters says everything goes to plan rest of earnings season, could see 11% earnings growth, could see 5% revenue growth is that enough to keep the momentum going for the stock market >> yeah. as we think about it, we see not only 11% this quarter, think you get double digit earnings in q3 and 4. i think the question is are we talking tax reform once we get to q4. to get to 145, which is the

numbers for next year, 160 the following year, need some fiscal policy if we're talking about who is losing health care instead of whose tax rate goes down when we hit late september, early october period, that's notgoin to be good. >> you talk about the washington agenda, anything out there besides tax reform you watch for coming out, is health care that important? >> not at this point i think the key here is tax reform and tax relief. the debt ceiling is something else we have to watch. obviously discussions around that hard to believe that republican congress would not allow that debt ceiling to be raised, but you never know we are in position instead of moving on with momentum, what the market is hoping for, we're going into a mode of desperation. >> setting up for a positive start. that does it for "worldwide exchange." keep it here "squawk box" is next lots to talk about here as we

head to monday morning in trade. ♪ these days families want to be connected 24/7.

that's why at comcast we're continuing to make our services more reliable than ever. like technology that can update itself. an advanced fiber-network infrustructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most.

good morning big changes, new challenges for the white house. new chief of staff general john kelly takes office as conflict with russia and north korea is escalating sprint seeking an alternative to a deal with t mobile now charter communications says it isn't interested. and jobs reports a busy week of earnings. monday july 31st, 2017, "squawk box" begins now.

good morning, everybody. welcome to "squawk box" here on cnbc we are live from nasdaq market side in times square becky quick with joe kernen. look at futures. green arrows across the board. dow up close to 50 points after a strong week last week when the dow was up by 250 points many of those gains came from boeing we'll look at boeing shares in a bit. boeing having another strong morning once again this morning. s&p 500, nasdaq closed down for the week last week, all three major averages up for the month of july. today is the last day of july. see where we head as we get closer to opening bell. overnight in asia, take a look you'll see the nikkei was down slightly, down by less than two-tenths percent hang seng up by a quarter%, an