markets front and center we'll tell you what to watch and berkshire hathaway losing out on a multibillion dollar offer for a texas power player and of course we'll hit the story that is total eclipsing everything else today. it's monday, august 21, 2017 and "worldwide exchange" begins right now.

♪ >> lovely to hear the song good morning to you. a very warm welcome to you from "worldwide exchange. >> and total eclipse day we're only getting 72%, but i'm still jazzed about it. >> 72% is pretty high. make sure you have the right glasses. first let's have a look at the global market picture this morning. futures view, which did sell off a little bit on friday for the week as a whole, the nasdaq and s&p down about 0.6%. the dow down 0.4%. so despite all of those crazy political we didn't see that much reaction in terms of selloff. this morning just alle little r on the screen. let's have a look ten year treasury note, yields slipped back below 2.2%, again partly riskoff buying, but a slightly

dovish set of fed minutes that suggested tapering was more the focus going forward. this morning 2.185 >> and trading afternoon the rest of the world, asian markets closing mixed. so we have the nikkei down, you can see 0 aboutme.4%, but chinal higher in japan, there were gains in oil stocks, but that wasn't enough to offset the softness that we saw in other sectors like autos, financials, technology south korea's kospi also down slightly, but broader china still a little higher even as the military drills go on which is surprising toe moo that the markets are taking it all in stride >> i agree, it's a focus back on north korea. we had a week or so of course where the political story was very much u.s. focus charlottesville reaction so a bit more focus. i think you'd say it's showing

up a bit last week the nikkei was down as well, but these have been planned and therefore i suppose it's not as fearful fast it was just out of the blue >> take a look at europe early morning we're seeing negative sentiment across the board here for the european bourses there. france down the most of all of them, about half a percent and almost all secretators are r there. some worry about a flare up in tensions perhaps between u.s. and north korea and also some worry that the u.s. agenda has been perhaps somewhat derailed or sidelined with all of the white house knocks that we saw last week. >> yeah, a lot of focus on mario draghi, he has two speeches to come, jackson hole friday and in germany wednesday. and ecb will be forced to taper regardless because they are running out of bonds to buy. so a little bit of a wind out of sales of the european markets. but also if that is what is leading u.s. futures lower, it's not too concerning because clearly it's a separate story

than the u.s. picture. and i also think europe was up nicely last week the dax and french market up nearly 2%. oil prices didn't rebound. down about a third of a percent today. 48.4 dollar board for you, some interesting moves last week. the dollar was slightly higher, but it did see some ground gained against the likes of the euro and pound, but did lose some ground against the nikkei this morning down 0 aboutment 2% f for the europe and gold prices up slightly for the week.. aboutment 2% for the europe. and gold prices up slightly for the week.aboutment 2 for the europe and gold prices up slightly for the week.utment 2% for the europe and gold prices up slightly for the week.nt 2% for the europe and gold prices up slightly for the week.t 2% for th europe and gold prices up slightly for the week. 2% for the europe and gold prices up slightly for the week.2% for the europe and gold prices up slightly for the week.% for the europe and gold prices up slightly for the week.2% for the europe and gold prices up slightly for the week ten sale lilors are missing

after a destroyer collided with an oil tanker. it was heading to a routine port visit when the accident happened this is the second collision involving a navy destroyer in just less than three months. >> really baffling i don't understand how this happens by accident given the size and scale of these boats and what technology they have on board. but either way, we are hopeful that those missing sailors are found. u.s. and south korean forces are beginning computer simulated military exercises today amid north korea tensions south korea's president says they are purely defensive and don't aim to raise tensions. the drills continue until august 31 president trump is expected to lay out a path forward for afghanistan during an address to the nation tonight this comes after another big shakeup of his inner circle over the weekend. eamon javers is live with the latest >> good morning. you're right, the president is going to address the nation tonight from ft. myer, virginia. no word on exactly what the new

afghanistan strategy is going to be, but it is expected to include more troop commitment in afghanistan. we'll see what the president has to say, that will be at 9:00 p.m. eastern time this evening meanwhile more turmoil carl icahn, the noted investor, quitting a position as special adviser to the president of the united states offering this statement saying, i chose to end this arrangement with your blessing, that is the president's blessing, because i did not want partisan bickering about my role to in any way cloud your administration. that is the statement from carl icahn. but it came just a little while ahead of in new yorker article which raised the question of whether or not carl icahn has been using his special adviser position to the president to in effect line his own pockets. icahn denies any imrow prioriprn steve mnuchin issuing a statement defending position to stay a board the trump administration after the angry press conference from the

president last week saying i don't believe the agencies against the president are accurate and i believe that having highly talented men and women in our country surrounding the president this his administration should be reassuring to you and all of the american people. as long as i am treasury secretary, i will do the best job i can and provide the best advice i can to the president. that statement coming in response to a letter there hundreds of his class mamates fm college who questioned why he decided to remain in the administration after the president's comments about confederate memorial in the wake of the violence in charlottesville. so more turmoil in the president's inner circle, that coming after the resignation of steve bannon on friday so a whole lot going on as the president arrives back at the white house today in the wake of his working vacation >> and you say more turmoil. i mean, couldn't you frame this as improving over the weekend for the president because yes

carl icahn has decided to step down, but he's another business leader and not a can be net member and in-the fear last wednesday/thursday was this would spread to the likes of steven mnuchin and gary cohn who has come out in support of mr. mnuchin. and yes steve bannon was gone, but there was kind of expected it wasn't in relation to shar . charlottesville response >> womell, wire se we're seeing president feeling isolated in the wake of the ceos departing his advisory councils. and steve bannon's thinks no longer tenable the carl icahn situation more of a one off, it has to do with whatever conversations he had with the president and his team about specific energy credits that would have affected mihis w businesses that is an isolated position and you're right, steven mnuchin firmly committing himself to the

president saying he won't depart as treasury secretary and offering anexplanation as to why. there was so much speculation to your point about gary cohn and steve mnuchin how they would react. both seem too be holding fast though >> thank you very much and in terms of the markets, only down 0.6% for the s&p last week so it's thought been a massive market reaction as we always make clear corporate news, berkshire hathaway was outbit for oncor. sempra will buy it for a 9.45 bhld billion. berkshire said that it would not raise its offer. and other deal news, maersk

agreeing to sell its oil unit to total. the twrks is transaction is thet soon in the oil and gas industry which has been dealing with the downturn the deal subject of course to regulatory approvals now to the latest in the uber leadership saga there appears to be a frontrunner. landon dowdy has all the details. >> that's right, former general electric dhar man and ceo jeff immelt has become the frontrunner to be the uber new qvc. the board is likely to voten with the next two weeks. and two other executives are said to be in the running, but neither is a woman which some had hoped this news comes as he thinks its on the board had heated up in the wake of the dispute and the lawsuit between housed ceo travis kalanick and one uber's early invest informations benchmark capital immelt could have a lot to gain from taking this job being the

person to rescue uber from its woes he announced in june that he was 12e7 stepping down from ge after 16 years. and while some say he lacks entrepreneurial drive, he's located on the east coast, sources say he isn't someone that can be pushed around easily, which is probably one of his best characteristics and this comes after hpe ceo meg whitman dropped out of the runs last month so one to watch. >> it is indeed. stocks to watch, barons is positive on starbucks. the stock down 18% in the past two months nowyears but barons believes that it can recoup the shares. the world's third largest gold producer says lower income

hit its bottom lines down 5% in australian trade b and g foods is brooiing snackwe'll cookies for $162 million. b and g which owns green giant frozen vegetables says it gives them more leverage with natural food retailers turning to this week's wall street agenda, housing and the fed are in focus new home sales on wednesday, and thursday jobless claims and existing home sales. and friday, durable goods and we'll hear from janet yellen at jackson hole we'll hear from lowes, abercrombie. up next here, a new study lays out who is the most to lose in trade war and the one chinese company

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the best we're probabilily taking a lead frets of the world we have a mixed picture from asia with we did see the nikkei down over 1% and it's extending those losses this morning. but shanghai and hong kong up nicely this morning. europe has bit of red across the screen again though coming off a week where we saw some profits actually in france and germany so a little bit of profit taking there. the u.s., canada and mexico wrapping up the first round of nafta talks. no major headlines coming out of round one. they will reconvene next month in mexico. and the goal is to have talks wrapped up by early 2018 at the latest china is tightening its rules on foreign investment. the company now has a list of what it considers acceptable outbound investments as the government continues to crack down on foreign spending

it prohibits investments in anything that endangers national security and also in-swresmeve s chls. >> the gambling industry china's great wall motor company has reportedly asked to meet with fiat chrysler. reuters says the aim is as to make an offer for all or part. great wall is interested in buying the jeep brand which is among the company's most vuf eithered assets. great wall is the largest maker of suvs and pickup trucks. both higher on the news. and china commerce ministry expressing strong dissatisfaction after america launched a formal investigation into alleged theft of u.s. intellectual property. china saying it will take appropriate measures to defend its interests.

a new report shows that china has the most to lose in a trade war with the u.s joining us with more, financial times beijing correspondent tom mitchell good morning to you. if we did see tariffs and barriers come in between china and the u.s., china would be the biggest loser, is that right >> well, yeah, when you look at the data, the starting point which is very interesting analysis in this conference board report, if basically shows in value added basis, china's exports to the u.s. are bigger percentage of china's economy than u.s. exports would be to china. so in theory, the u.s. is in a better position about 0.7% of its gchlts dp compared gdp, bute reality is that the trade war would be very messy, hard to predict how it would spiral out. probably no winners in the end >> and clearly last week before

he left the administration, we saw those comments from steve bannon saying that the chinese and americans are in an economic war and that u.s. has to act now before china overtakes the u.s what is your view on those comments and the accuracy of them >> certainly in steve bannon's mind the two countries are engaged in an economic war i talked to a chinese official shortly after the mar-a-lago summit and one chinese official says steve bannon can't really believe that, can he he used to work for goldman sachs. so the chinese certainly hoped that waish wasn't going to walk his talk on trade. and they got lucky inasmuch as he's gone. so he won't be lobbying for really hard action against china. >> i know we have a new report out from the conference board, but do we really have any historical precedent to figure out what a trade war would look like, who gets hurt more when you look at two countries as

powerful as china and the u.s. in this current state of global affairs? >> no, absolutely not. an all out trade war between two economies of this size would just be the equivalent of an economic world war i can't think of a resident that would give us any sort of, you know, guidelines about what to expect and gets even more complicated when you think about the nature of what is referred to as state capitalism in the event of a trade war, you know, the largest chinese companies are state owned and they will do as in-12ruk9ed by the chinese communist party. so it would be very intense and very messy >> tom mitchell, thank you very much about up next dog days of summer are hitting hollywood why this weekend was another dud at the box office. but first, as we head to break, here is today's national weather forecast from bill

karins >> good morning to you of course the story of the day is the eclipse and will you be able to see it, will the clour s blouds block it. so many places will have ideal viewing conditions am all the western states in the path of totality are great organize through wyoming if you chose to be in idaho, congratulations because it will be beautiful midwest is the problem area. we have a lot of moisture, thunderstorms today. they will be becoming during the afternoon and evening. so kansas city, st. louis, it's iffy and even south carolina is looking better today than it was last week. tennessee looks perfect. but down along the coast in charleston, we'll be dodging hits and miss showers and storms at the peak of the eclipse other areas will see it, just not in its totality. look great in the northeast, chicago northward, not too bad same story in texas with bright sunny skies. thanks for loading, sweetie. ...oh, burnt-on gravy? ...gotta rinse that.

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week, but recovered nicely on friday to make the picture a lot prettier than it could have been and blockbuster movie season wrapping up. hit man's bodyguard earned an estimated $21.6 million domestically in its debut. the action comedy stars ryan reynolds and samuel l. jackson dunkirk was third. overall it's been a rough summer at the box office. summer ticket sales are down more than 13% from a year ago. >> i went to see baby driver last week. awesome. really good. >> the title, baby driver? >> watch the trailer >> i've seen it.

>> it has a great lineup kevin spacey, but a good film. i know it came out ages ago, but a good film. moving on to sports, the pittsburgh pirates and st. louis cardinals went back to their roots as kids. major league baseball held its first regular season game in williamsport, homeof the littl league world series. they played in a minor league ballpark that was ren vats reno just for the occasion. this is all part of the mlb initiative to celebrate youth baseball after the game the pirates and cards lined up and hook shands with each other in a nod to good sportsmanship. >> i watched some of the little league world series. this is incredible i guess they are like 11, 12, maybe 13 up next, a round up of

today's top stories plus a check on the early market action but first -- >> the story that everyone is burning to talk about there monday jane wells is in oregon for us >> reporter: hey guys. they are predicting $700 million in lost productivity today because of the eclipse, but that didn't take into account all the money they are spendingto be part of america's total eclie t mraret.ps urally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember.

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it's eclipse mania it's monday, august 21, 2017 you're watching "worldwide exchange." good morning and warm welcome to "worldwide exchange." i'm wilfred fos. frost. >> and i'm courtney reagan we saw futures a little stronger than what we saw earlier and now a mixed picture with the

dow jones implied to open about 12 1/2 points higher s&p and nasdaq showing just slight pressure about much we did ha did have a down week on wall street we'll see what happens when we open today we have a big week ahead with janet yellen speaking and of course all eyes on washington continue let's take a look at the he ten year treasury and where the yields are they are still under 2.2.down just ever so slowly this morning but sort of following the pattern that we had seen last week >> it's a mixed picture in asia. we have japan declining about 0.4% european picture is largely red, though declines not too sizable. less than half a percent and coming off a week where they

were up almost 2%. >> and let's take a look at oil prices wti just ever so slightly higher, but that means we're hoding on to the big gains from friday where we saw crude actually rise more than 3%, best day since the end of july for wti crude. take a look at what is going on with the dollar earlier in the hour pretty mixed session, albeit ever so slightly so testimony cost you $1.17 and change this morning. and pound dollar just almost flat there ever so slightly higher for the pound. and take a look at gold prices, we ended the week down slightly, but this morning up slightly 1293 for gold. and turning to the wall streeted a jen catoday, housing and fed are in focus thursday jobless claims and existing home sales and friday durable goods and we'll hear

there janet yellen at jackson hole retailers dominate the earnings reports. we'll h. we'll hear from lowes, an krom bettbercrombi abercrombie. a developing story overnight, ten sailors are missing and five were injured after a u.s. warship collided with an oil tanker east of singapore. the navy says the guided missile destroyer was headed to a routine port visit when the accident happened thp abo this is the second collision involving a navy destroyer in less than three months president trump is expected to layout a path forward in ag this comes after another big shakeup of his inner circle. on friday steve bannon announced his departure, karl sicarl icah stepped down as an adviser he ran into criticism over potential conflicts of interest. on saturday, steven mnuchin defended president's response to charlottesville rejecting a call

by a group of his former yale scl classmates to resign in corporate news, berkshire hathaway has been outbid for oncor. sempra will buy it for $9.5 billion. the biggest creditor had opposed the sale to berkshire. berkshire said that it would not increase its offer for oncor maersk will said to sell its oil on unit to total the transaction is the latest sign of consolidation in the industry which has been dealing with a downturn. the deal is still subject to regulatory approvals and b and g foods is buying snackwell cookies. b and g says the deal gives it more leverage with natural food retailers. and barons is positive on

starbucks. the stock down 18% in the past two months now trades at the cheapest valuation in five years. barons oig believes shares can recoup the recent losses and rise at least 20 percent over the next 12 months 145 shares unchanged at this hour. hollywood is remembering jerry lewis. he passed away at the age evof . jim carrey tweeted jerry lewis was an undean r. deniable genius aund fathomable blessing, comedy's absolute. i am because he was. and ellen dewilliam shatner tweeted the world is a lot legs funnier today. youth pouring from all around the world.he world is a lot legr today. youth pouring from all around the world.world is a lot legs f today. youth pouring from all around the world. >> he had a big mark on all of

us elon musk is taking a stand against killer robots. he joined forces with a group of well-known artificial intelligence researchers this calling on the u.n. to stop the development and use of robotic weapons. they are claiming that using autonomous weapons could usher in, quote, third revolution in warfare. >> he's not afraid to speak on this issue >> he feels strongly about this. it's a big day for big ben the famous london clock will sound for the last time today before it's silenced for repair work scheduled to on last until 2021 at noon the bell will ring 12 times before beginning its longest period of silence since 1859 >> that is serious repair work >> and big ben is the name of the bell, not the clock. >> does it annoy you when we call the whole clock ben big ben? >> no, i think a lot of people

do, but it's just the bell >> so what is the clock called >> just the clock, i don't know. doesn't have a nickname. but there we go. now on to the story that is totally eclipsing everything else today jane wells is on eclipse watch in oregon for us jane, i'm excited to hear this one. >> reporter: i am so excited to be here, guys. it's a little after 2:30 in the morning here and there are thousands of people in this campground all waiting for that moment in a little less than and i had hours in midday when it will look like this, it will be dark this will be one of the first places where the eclipse hits the united states. it will take about four hours to move across the country. though totality as it rolls across will take about 90 minutes. now, this is the first coast to coast eclipse in the united states since 1918, the first total eclipse exclusively in the united states since 1778, and people are paying anything to be here to say i was there no

matter what the cost how long have you been planning to come here >> well, for me ten years. >> i went from virgin isle to the uk and then i flew to l.a. and to las vegas, seelgtsmgts, n here >> and we have matching goody bags so we were looking like a bunch high schoolers on their field trip >> how much have you spent to be here >> xro reali don't really want . >> probably $500 >> wofrt irth it >> totally >> reporter: and they were singing dream organization you have on, you have a mix here. everybody is trying to capitalize we have special doughnuts, special car ads, special planes that are chasing the can eclipse. but here is one of my favorites. >> on august 21, it will create

an enormous fairly yellow banana in the sky chiquita banana sun. >> reporter: yes, they are taking credit for turning the sun into a banana. and there is even a special royal caribbean cruise will boy any t bonnie tyler will sing her hit and you can see a partial eclipse in new york. it will peek on wall street at 2:44 eastern but do not look up without these. you need these unless you are under totality for only the two minutes during that totality i will be here and during that two minutes, i can take this off and look but only me. wear these >> and so the banana which i applaud is similar to what we will see here in new york because we're going to get,

what, 70% or so. which places in america will have 100%? >> reporter: well, it start start in oregon, it goes across 14 states and it will end in south carolina all 50 state, everyone alaska and hawaii, will have a partial eclipse. in this morning where you are, it will peak at about 53%. but again, i cannot stress this enough, you have to have the special glasses to look at it. >> so even my ray bans are not spuft? >> reporter: no, i know you're totally cool, i know you have the hippest coolest raypainraybt they will not work >> and i also want one of your cnbc baseball caps so jane, thank you very much we look forward to the coverage all day. >> that is have i exciting coming up, playing a game chicken with china today's must reads are ahead and as we head out, another check in on the action in europe which is lower for the most part, but less than half a percent of declines.

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a development to a story we brought you. fiat chrysler says it has not been approached by great wall regarding its jeep brand earlier a report suggested that the two may be starting conversations. but we're hearing fiat chrysler

deny in a. great wall up 1.6% in hong kong time for the must reads. my pick is in the financial times titled in-sur begins city fits the campaign trail but flits the white house. write williing mr. trunmp's innl is like the hotel california mr. bannon's parting could endanger mr. twrumpg the big question has always been whether mr. trump would convert the republican part of the establishment to mr. bannon or whether it would enter a period of crisis. now we have an answer. so framing that departure as -- making the skrn repogeneral rep he may be still an adviser on to the president and with him back this breitbart, might be able to

get the base back behind mr. trump. but we'll see what happens but that is a big focus for wall street and the fact that we didn't see likes of mnuchin and cohn follow mr. bannon, so perhaps slight support in the markets this morning >> not that i know mr. bannon at all, but i don't see him leaving his politics behind. so my choice is from the "wall street journal," it's titled playing chicken with china and it's discussing strategy president trump is using with regard to china and north korea drawing parallels to former presidents and their strategies when on the brink of or during war. it's written through the lens of game of chicken with that two cars speeding toward each other and either someone swerves or both drivers die see writes will he actually bomb north korean missile sites and risk restarting the korean war no one perhaps not even the president can be sure, but inside xi oig concludes the

outcome is too high to in-nothing, he is unlikely to rein in his north korea ally and i think it was interesting to look at how we can't figure out what he's doing, trump's strategy, in the parallels with what he's seen before with other nuclear war strategies saying you have to sort of make them think that you are willing to risk it all in order to get the other side to blink. just an interesting thought. >> and this story with various sort of rehearsals and military run through oigs picking up over the weekend is back front and center, of course two weeks ago, it spooked markets last week whether or not this was because the story itself in korea died down or because markets had other focus, clearly we didn't talk about it much but interesting to see if it does put riskoff trade back in vogue again. in corporate news, there appears to be e a frontrunner to take over uber

landon downdy hdy mass the deha. >> jeff immelt has become the front runner the board is likely to vote within the next two weeks. and two other executives are said to be in the running, but neither is a woman which had some had hoped this comes as tensions on the board have heated up in the wake of the dispute and the lawsuit between ousted ceo travis kalanick and benchmark capital arianna huffington is one of immelt's strongest assume esupps he could have a lot to gain from taking the job he announced in june that he would step down as ceo of ge after 16 years and while some worry immelt lacks entrepreneurial drive and is also located on the east coast, sources say heisn't someone that can be pushed around easily which is probably the best characteristic and this

after hpe ceo meg whitman dropped out of the running last month. back over to you >> thank you very much quite a nice turnaround for mr. immelt it was seen as an early retirement when he stepped down from ge, but this would be another chapter in his life. >> totally different chapter, too. >> and interesting to on ssee wt he can do there. up next the fred front and center as janet yellen heads to jackson hole what you can expect to hear from the fed chair. for skin that looks younger than it should. fact check this ad in good housekeeping. olay regenerist. ageless.

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fractionally foot locker was just incredible. they hadn't reported negative comp in 7 1/2 years. i mean, and then out of nowhere, not only were the comps extremely below analyst estimates, but they said things aren't getting any better from here and they kind of pinned it on the consumer and so the consumer is moving faster than ever, their attention span is shorter than ever, they have more information than ever, they did say that we'll try to respond faster, get product out to them more quickly. but it sort of came out of nowhere and took a lot of analysts by surprise and then we saw shares of nike and adidas and under armour all take a hit >> and more retailers coming out. >> this week we have lowes, abercrombie, pbh and tiffany we know the space is still pressured. so abercrombie probably not going to put up a stellar report lowes often follows what home

depot does and we saw a stellar report on out of home depot. so i think things will be relatively strong out of lowes, not as strong as home depot. so a lot to still look forward to >> and the main takeaway from last week with the walmart and targets? >> i think it's interesting as we're feeling the amazon effect, but i think a number of them have started to figure out their own way. very early goings. but i think walmart many have said if anyone can take on amazon, walmart could do it. really strong numbers there. target we saw a good quarter, but they have he been a little inconsistent in the past so i think that we need more than one quarter to really call anything there >> and lowes is wednesday and getting to the end of earnings season let's switch focus, have a look at futures which have got a little bit of green.

nasdaq slightly lower coming off a week where we saw 0.6 of declines let's bring this stevin steven . thanks for joining us. let's start with currencies in terms of what to focus on. is the focus more on mario draghi this year than anyone else >> well, i think that the rumors that came out of the ecb that draghi was meant to give a policy speech took the wind out of the sails i think ecb looks determined to begin tapering at the end of the year, but they don't see any percentage in telling the markets three or four months in advance that that is what they will do. although a stronger euro, hire rates and they might as well do it in october as in august so i don't think draghi is the main story i think the focus will be on janet yellen and what she says >> couldn't don't we think thatn

won't say much we got the minutes and i think most market participants are thinking it's going to be a no news here speech do you see something different >> the title of the speech seems to imply that 14e8 discuss the relationship of financial stability and monetary policy. and there is a circle that they are trying to square here. like how do you aim for inflation target of 2% when you're persistently below it and they stay below it without overheating financial markets and creating bubbles on so it's possible that that will be the focus of what she says and that still would be market moving fendigendi depending whas on >> is the ecb in position to start tapering we did see growth pick up and we have seen inflation pick up earlier this year, but the inflation picture has come back quite significantly since the sort of february/march period. >> it's come back a lot, but if

you think that the fed has problems because interest rates are still low and there is no ma margin in case a negative shock hits, ecb is still at the maximum setting of stimulus. and i think their question is what are they going to do if there is a negative shock. there is not much room to cut rates. negative rates has not been a successful experiment and there is not much room to buy more bonds. so i think they are trying to use this opportunity in hopes that they can build up ammunition before the next downturn hits. >> so much focus is on washington and comings and goings for the trump administration is it encouraging that we only lost 0.6% for the s&p last week given all of the turmoil in washington >> yes, but that is kind of a very weak at the same time i think that markets have been able to bounce back from preliminary shocks and they have done it nicely i think that what we're seeing this week with the kind of

softish opening is still concern that there may be more turmoil in the administration. but i think that if there is any sign that things have stabilized, that there are no further resignations and trying to push the tax agenda, some of the other programs forward, i think we'll see the markets buns ba bounce back. but i think there is the assumption that the chaos of the week or chaotic event of the week and they are just waiting to see that that didn't happen and then they will be a little more confidence will be restored >> and so do you think that we will see anything this week when it comes to other resignations and how important is gary cohn staying right where he is to the markets? >> right now it's pretty important, but, a, this is playing out like a mean girls scenario with a lot of social pressure on trump cabinet members and advisers to resign so far it doesn't look like that they will. but the other question seems to be who replaces him if he resigns.

if it's a top notch figure life will go on if it turns out to be third string, it will be a problem >> steven, we'll have to leave it there thanks very much for joining us. that is it for "worldwide exchange." "squawk box" is next these days families want to be connected 24/7.

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investors getting ready for the eclipse. following two small declines steve bannon is out and kacarl icahn stepping down as special adviser. add to that president trump will address the nation tonight about afghanistan. we'll get a live report from washington and the wait is almost over, the great american eclipse happens today and it's expected to cost

employers up to $700 million in lost productivity. it's monday, august 21, 2017 and "squawk box" begins right now. ♪ blinded by the light good morning welcome to "squawk box." i'm andrew ross sorkin along with joe kernen and michelle caruso-cabrera becky is off this week take a look at equity futures as we try to figure out which way the market will open up after the weekend. dow looks like it would higher about 8 1/2 higher, s&p 500 and nasdaq both slightly off in asia, a little bit of a mixed picture there. and then if we g