wall street looks west as the annual fed summit in jackson hole gets underway facebook's big bet the social media giant putting one of its most important executives in charge of hardware the reason coming up. and we have a winner one lucky person is 7$759 millin richer today after hitting the powerball jackpot. it's thursday, august 24, 2017, "worldwide exchange" begins right now.

♪ good morning a warm welcome to "worldwide exchange." i'm wilfred frost. >> i'm seema mody in for sara eisen. ahead of her first single release in more than three years, we're throwing it back to the best of taylor swift you feel 22? >> i don't i feel 32. but i took one for the team for this throwback >> i'm a fan of hers excited to check on the new album. >> so am i before we look at global markets, let's go to the story that everyone is talking about we have a winner, one lucky t n person in massachusetts is roughly 7 $59 million richer today after hitting the powerball. that's a pretax number the lotto spokesperson saying the winning ticket was sold in watertown outside of boston. it's not clear who bought that lucky ticket, but they are the single biggest lottery winner in u.s. history

i have not checked my numbers yet. >> it's important to do that just because there's a winner doesn't mean you don't have some money out there. >> on the way in, i was hopeful i could have won the whole thing until i learned it was bought in boston >> a lot of demand in new york ticket sales in new york topping a million dollars an hour on wednesday. because the sum kept growing bigger and bigger. >> i'm pleased, though it wasn't me which is tough to take, i'm pleased one person won this. it's exciting. last time when it got up above billion, three people shared it. only 300 million, what's the point. >> you're right. lucky winner let's get to global markets. let's look at futures here yesterday was a down day for stocks as investors weighed the risk of a government shutdown following those comments a threat from president trump. comments that he would shut the government down if he did not get the funding for a u.s.

mexico border wall on thursday, premarket trade indicating a higher open dow up 30 points, s&p up 2 and nasdaq up 9. the ten-year treasury note seeing the largest single day yield decline since july 18th here on thursday yielding 2.18% >> interesting to see yields slip yesterday but the dollar jumped a half percent. moving slightly against what you would expect by the pure yield relationship looking at asian equities, the nikkei continues it's rough patch. yesterday it was higher, but it had had five days in a row of declines before that it is down again 0.4%. for the most part a positive session in asia. some smaller markets are higher alongside hong kong and south korea. shanghai down a bit. european trade, which was a little bit negative like the u.s. yesterday, down 0.3%, 0.4% for germany and france

ftse 100 was flat. today up about 0.4% for most of those european markets >> as for broader markets, the u.s. dollar was in focus as well, pressured by those comments from president trump. here on thursday the dollar at at aat at 1.09 against the yen. the pound higher just fractionally against the dollar at 1.28. as for gold that risk-off mode helped gold prices move higher reversing those gains now. down about $4. trading at 1,290 also keeping an eye on oil prices a major storm gapes strength in the gulf of mexico the national hurricane center upgraded harvey overnight. the energy market is tracking to see if the storm could impact gas and oil refineries in the gulf wti is lower as opposed to higher which could be the expected reaction. 48.2 yesterday oil gained 1.2%.

that was why energy was one of the best performing sectors on the s&p. in relation to the storm, let's get to nbc's bill karins with more on today's broader weather forecast as well good morning to you. >> good morning to you bad news overnight, the storm is getting more organized, it's a bit stronger and the new forecast has it more intense at landfall if you're waking up in southern texas, not the story you wanted to hear it's expected to link near next week all the oil platforms that have been evacuated in that area, they may not get people back there until wednesday or thursday of next week. what will that do to production? 45-mile-per-hour winds, so a weaker storm but moving to the north and starting to intensify. thunderstorms are over the top of the center, condition also be more favorable for it to intensify. the new forecast from the hurricane center has it making landfall never saturday at 1:00 a.m. they have it at 5 m85-mile-per-r

maximum winds. that's twhere it can really star doing damage south texas, look for the possibility of a cat 2 and hope it's lower than that this is tuesday, it's still sitting in almost the same location a stalled out tropical system not only has problems with storm surge cycles and high tides, this rainfall forecast, 15 inches in the area in pink that's historic. flooding, fresh water, flash flooding, we'll have a lot of problems with this storm and that will continue into next week bill karins, thank you very much let's look at wall street agenda a few more retailers reporting results before the opening bell, that includes staples, diftiffa and abercrombie & fitch. after the close, we'll hear from broadcom and game stop

a pair of economic reports weekly jobless claims out at 8:30 a.m. eastern. at 10:00, july home sales. in corporate news, federal regulators say they don't plan to block amazon's $13 billion deal to buy hole foods the federal trade commission making that announcement hours after the whole food share holders voted to okay the merger amazon hopes to wrap up the deal by the end of next year. amazon down a bit today. whole foods slightly higher. interesting numbers from uber, reporting a 16% jump in quarterly bookings it posted a loss of 6$645 million, that's a 9% smaller than the loss in the first quarter. trip requests from riders more than doubled over the past year. the positive financial results come amid a slew of corporate scandals for uber, including a

legal battle between benchmark capital and its former ceo travis kalanick. these numbers though despite the scandal and a lot of criticism that the company has been facing, still a lot of demand for its service. >> absolutely right. those numbers, the other one i liked in that, started allowing drivers to get tips within the app service. that's been going since the 20th of june. already $50 million in tips has been earned by uber drivers. something that consume e and dri consumers and drivers wanted maybe price hag to come down a bit to be more competitive, either way a good offset public image wise and for the drivers meg whitman is sticking to her guns the hpe ceo says she will not be the next chief executive of uber she told the "wall street journal" that knock has changno

changed since her series of tweets in july saying she would not be taking on the role. this after the board said they were still in talks with whitman about taking over a seat. andrew bossworth will lead the consumer hardware efforts for facebook this as facebook will have a video device available for next spring he is considered a close confident of mark zuckerberg so they have gone into messaging, the acquisition of whatsapp they have a vr headset technology they're working on. maybe a voice phone of some sort >> we will see they are covering lots of ground linkedin's reid hoffman talking tech valuations with cnbc he says he thinks things are getting lofty. >> as you get to a network world, we get to larger and

larger companies ten years ago it was more oil companies, now it's more tech companies. they benefit from this global scale in a network role. it gets down to a company per company decision now what it does mean is probably most of the valuations are probably too high. that's the challenge for being a haven't chore cventure capitalit some stocks on our radar hp inc. reporting third quarter profits that were slightly better than expected revenue from personal systems, which includes work stations, notebook and testidesktop pcs re 12%. pvh posting second quarter earnings and revenues that beat forecasts. that's the clothingmaker they also raised their full-year guidance the ceo talked about how the company will continue to

leverage those brands. >> what will you see from us is a continuation of us buying back and directly operating more and more of our calvin klein and tommy hilfiger businesses, using the cash to do that. which has been very creative just look at china as we have taken that back. secretarily, look, we'll look for another brand to put in the portfolio, that will happen when it makes sense >> shares of pvh up over 3.5%. let's talk more about retail williams-sonoma rallying today after the houseware retailer reported better than expected second quarter results same-store sales up 3% for the month. there's a big disruptor in the furniture space, not just amazon but wayfair that stock is up, had a report on it a couple days ago.

the stock is up already 90% this year >> that was a bounce back for sonoma yesterday >> yes some winners and losers in the space. shares of guess are soaring today after better than expected second quarter numbers guess citing sales gains in eastern europe and asia. guess up 13%. the hershey tres will sell 4.5 million shares of the hershey company. the travel trust will sell 1.5 million back to the company. general electric resumed discussions to sell its industrial solutions business to swiss engineering firm abb talks broke down last month because of a disagreement over price. reuters says ge would like to sell the business for about $2 billion. the share price moves there are muted. abb, in fact, is swedish, not

swiss. still ahead on "worldwide exchange," the countdown to jackson hole the summit kicks off today >> as we head to break, another check on early trade in europe it's a positive session. stick around "worldwide exchange" will be right back who knew that phones would start doing everything?

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30 points on the dow a point or two on the nasdaq s&p up a quarter point this after declines yesterday. but still higher for the week as a whole. just about 0.6 to 1% ten-year treasury note, yields rising a bit today, close to the 2.2 level. 2.178. yields did slip yesterday, degs pit that the dollar did rise a half percent cnbc is live in jackson hole with a huge lineup today you will hear from esther george, gdallas fed president, robert kaplan, and jay powell. tomorrow janet yellen and mario draghi >> joining us from london is

peter spiegel. good morning to you. thanks for joining us. i suppose we already heard from mario draghi this week what did we learn from that? what can we expect from his keynote tomorrow >> he kept his powder dry thus far. what everyone is watching for is from both yellen and draghi is how will they deal with economic growth and unemployment going down to sort of pre-crisis loads, yet no inflation, no rising wages, no rise in prices, and a market and a corporate sector that has become used to free money how do they balance those two things as we saw when the ecb will their own version of jackson hole in portugal, every utterance that touched on tightening and a move away from qe, markets reacted badly to it. how do janet yellen and draghi communicate the unraveling of qe without spooking the markets

also there's conflict within the boards of the fed and the ecb about what these economic numbers mean some have been focusing on the low employment and high growth areas, saying we need to tighten. you have the more dovish end saying if we have no inflation, no wage growth, no price growth we can't pull the trigger. the markets are nervous, and everyone is on a hair-trigger now. particularly in august all of us will be watching this closely. >> how do you expect policymakers to address the fluctuation in currencies, whether the dollar in the u.s. or the stronger euro in europe, and the concerns that could weigh on europe's economic growth story >> it's a much bigger problem for draghi than janet yellen for draghi, a good portion of the eurozone growth story over the last 12, 18 months has been helped by a relatively weak euro because of brexit, because of the dovish tones coming o

ouout yel out janet yellen, suddenly the euro is the currency beating everything so there is concern that a strong euro against the pound and dollar will impact the multinationals and growth. we've seen some of the export numbers in germany reflect some of that. those who are dovish on the ecb board have used this against the spectrum calling for we. for janet yellen, there's less concern about the dollar weakness frankly this is something that doesn't -- it helps to a certain extent for exports it's a less of a concern for janet yellen than draghi but interesting to see -- draghi has a much more difficult political thing to balance you have all this bragging in germany about qe he has to fend off that german

flank. >> quick comment on sterling even though the euro against the dollar pulled back from recent highs, sterling hit an eight-year low against the euro this week. what's driving the pound weakness >> a combination you have the eurozone growing better than expected, but brexit uncertainty. even as the talks get closer to actual substance, the fact of the matter is the uk government seems to be unprepared and all over the place on what they want that hit sterling sentiment. it's a psychological sentiment also even though the market numbers are 92 pence to the euro, the exchange rate, the britts holidays, it's a parody. you can go to thomas cook or amex office, you're getting 1 for 1. psych loologically people are waking up to the fact that brexit is having an impact on their wallets. it's a political issue as well >> peter, thank you very much

for that preview of jackson hole and all other things steve liesman will be live for us at jackson hole with a good lineup. still ahead on "worldwide exchange," a lot of d.c. drama more on the war of words between president trump and the republican party we're live in washington with the latest >> first, as we head out, another check on futures, pointing a bit higher after a third of a percent of declines yesterday. back on "worldwide exchange" in a couple minutes i love you, basement guest bathroom.

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welcome back to "worldwide exchange." i'm seema mody getting you up to speed on market action. yesterday oil prices moved higher the weekly drop in u.s. crude stockpiles the main data that oil traders were digesting here today we're lower on wti crude, 48.28 ice brent crude, 52.47 economic data later today could change the story big interview coming up today, house speaker paul ryan will sit down with cnbc's ylan mui, that's at 1:00 p.m. eastern time on "power lunch." the white house is playing down a report of a growing rift between president trump and mitch mcconnell. edward lawrence has more on

that >> reporter: we've seen a tale of two presidents in the last 24 hours from phoenix to reno the difference in reno is that the president used a teleprompter and did not speak off the cuff. >> reporter: a vastly different president trump addressed the american legion conference in reno, nevada >> it is time to heal the wounds that divide us. seek a new university based on common values that unite us. >> reporter: less than 24 hours earlier in phoenix, an unscripted president had a much different tone after defending his response to charlottesville and attacking arizona senator john mccain, president trump added -- >> nobody wants me to talk about your other senator weak on borders, weak on crime so i won't talk about him. >> reporter: and a more subdued tone addressing the nation on monday >> they sound entirely different. i think we know which one is the real one the real one showed up in

phoenix. >> reporter: now the president must try to work with congress to get several big ticket items passed in september the government will have to work out a deal to risk running out of money >> i think it's important we saul stay yune figunified. >> reporter: this comes at a time when mitch mcconnell and president trump have not spoken in several weeks house and senate members will return on september 5th to start governing again. >> edward, thank you very much for that still ahead, a round up of today's top stories, plus more on that storm gaining strength in the gulf of mexico. >> and later, imagine what waking up to 7$759 million, bein that much richer, that will happen to one lucky person in massachusetts. details of the record setting

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the fed in focus the annual jackson hole summit kicking off today. what to watch straight ahead. amazon gets the green light. the retailer is one step closer to it's 13$13.7 billion acquisition of whole foods and the spotlight on swift taylor breaking the internet with big news. we'll tell you what has fabs buzzing this morning

it's thursday, august 24, 107, you're watching "worldwide exchange" on cnbc. good morning warm welcome to "worldwide exchange" here on cnbc i'm wilfred frost. >> i'm seema mody in for sara eisen. it's throwback thursday, ahead of her first single release in more than three years, we're throwing it back with the best of taylor swift. >> i have to say, i'm enjoying this i forgot some of those country songs she did. >> going down memory lane here >> coming off a day where we did see declines around 0.3% today we are flipping the other way. up about 28 points, 29 points on the dow. the nasdaq up a couple s&p just up slightly ten-year treasury note for you, did see yields slip yesterday, despite that the dollar did rise yieldis rising today

2.18 pf 2.18%. >> the hang seng resuming trade after typhoon hato yesterday the shanghai down about 0.43%. the japanese nikkei trading at a three-month low. the concern there is the stronger yen and how that could impact its exporters the kospi slightly higher by 0.4% in europe, we're higher across the board. the dax higher by 0.3% the cac lie higher by a similar amount the dollar up yesterday, 0.4%, 0.5% today you have a little more dollar strength. a decent move against the yen. the euro fractionally higher and the pound higher against the u.s. dollar. no big moves today

all eyes will be on jackson hole over the next 48 hours, speeches from north dakota and janet yellen, steve liesman will be there for us gold prices for you, a little bit of movement over the last couple of days down a quarter percent or so this morning didn't do much yesterday up slightly. offsetting that today. 1,291 the price. >> you know what currency pair we should be focusing on >> give me a clue. >> the euro versus the pound the euro hitting the strongest level in eight years many expect the euro pound to hit parody by the end of 2017. this touches on policy diver divergence and two different stories when you look at eurozone and the uk. >> the only difference which could make policy go the other way is the inflation picture the u.s. is seeing inflation inflation is above the target of 2% the last reading below the

expected number of 2.6 in the eurozone, despite improving economic strength and the possibility of coming away from the loose policy, we have seen inflation peak. peaked in february and slightly declined since then. the picture in europe, similar to the u.s economic strength but inflation is not picking up. we will get some answers today >> that's why mario draghi's assessment of the situation in europe and was that means. a major storm gaining strength in the gulf of mexico the national hurricane center upgrading harvey to a tropical storm overnight. forecaster says it could reach hurricane strength by tomorrow the energy market closely tracking the storm to see how it could impact oil and gas refineries in the growth so far a fractional move in wti, down 0.35% 48.24. natd gas higher by 1%. a few more retailers reporting

results before the bell including staples, tiffany and abercrombie & fitch. after the close, we'll hear from broadcom and game stop a pair of economic reports weekly jobless claims out at 8:30 a.m. eastern. at 10:00, july home sales. they're forecast to rise a half percent. it's all about the fed today as the annual jackson hole summit gets underway in wyoming. cnbc is there live with a huge guest lineup you'll hear from kansas city fed president, esther george, dallas fed president, robert kaplan, and jay powell tomorrow janet yellen and mario draghi >> kaplan. i say what >> kaplan. >> done. >> i'll try to correct that for you next time. federal regulators say they

don't plan to block amazon's $1 billion deal to buy whole foods. the federal trade commission making that announcement whole foods slightly higher. interesting numbers from uber, reporting a 16% jump in quarterly bookings it posted a loss of $645 million, that's a 9% smaller than the loss in the first quarter. trip requests from riders more than doubled over the past year. the positive financial results come amid a slew of corporate scandals for uber, including a legal battle between benchmark capital and its former ceo travis kalanick. lockheed martin and ratheon will work together to create a new cruise missile then the pentagon will choose a single krancontractor for

engineering, manufacturing and deployment of the missile. facebook reportedly picking andrew bossworth to lead its consumer hardware reports. this as facebook will have a video device available for next spring he is considered a close confident of mark zuckerberg hp inc. reporting third quarter profits that were slightly better than expected revenue from personal systems, which includes work stations, notebook and desktop pcs rose 12%. williams-sonoma is rallying today. the houseware retailer reporting better than expected second quarter results. same-store sales rose 3% with the strongest growth at the company's west elm brand, jumped 6.6% after those results shares of guess soaring today. citing better than expected

second quarter numbers guess citing sales gains in eastern europe and asia. guess up 13%. dixons carphone plunging after it cut its profit forecast for the year the company blames tougher conditions in the mobile market. down 24% in london time for our top trending stories. we got to start with the powerball. the lucky holder of one ticket in massachusetts is 7$759 millin richer today after hitting the powerball. a massachusetts lotto spokesperson said the winning tick wet wet was sold in watert just outside of boston it's not clear who bought the ticket but they are the single biggest lottery winner in u.s. history. this person has not come forward with their ticket. >> do you think they haven't realized it yet? >> there's still a chance for all those who bought a ticket. >> except i didn't buy in watertown. >> you didn't. >> it won't be me. >> if this person doesn't come

forward, confirm his or her numbers, there may be a chance. >> they'll give it to me not having the numbers >> if that person doesn't come forward, you never know. there's been mishaps in the past >> sadly, don't think it's going to come my way >> wishful thinking. >> either way this person hasn't come forward, maybe they don't realize. >> that's a good morning next trending story, taylor swift's latest news has the internet buzzing the superstar unveiling the name and cover art for her new album, reputation, due out september 10th the first single off the new album will drop tonight at midnight the big reveal coming after a string of three cryptic snake videos posted on her twitter, instagram and facebook accounts. lots of people awaiting that new album. >> lots of people. >> including yourself and i. >> absolutely. it's been three years since

swift's 1989 album a successful album we'll see what genre she plays into it. 1989 was about pop, prior to that she was into country. >> you were into that album in london >> you remember that you and i both. >> always liked t. swift, just not the country songs. >> i feel like she's dating another britt, calvin harris, though he was not british, he was scottish the problem is she's going younger. i'm 32 now i think i'm past it. >> young at heart, though. you're like wine, with age you get better. >> like a fine bordeaux. well said, even if i said it myself. cleanup is underway in washington state after an accidental salmon release over the weekend. officials saying high tides damaged nets at the salmon farm near cypress island releasing as

many as 5,000 atlantic salmon into the water crews are urging the public to catch as many of the fish as possible with no limit on size and number officials say the spill was caused by high tides pushed unusually high by monday's solar eclipse. >> they're asking people to go catch fish likely take my net -- i guess if you're a fisherman -- >> the first moment i saw that picture, not that i wasn't listening perfectly to every word you were saying, i thought the salmon had done the damage i was like wow big salmon no if you get your boat around there, there could be free salmon >> in oregon, we have some kild salmon >> and pinot noir as well. viral video alert. an itv interview nearly being derailed by a toddler. in a segment that was supposed to focus on a mother and son

a little girl named iris stormed on top of the set and tried to high five the presenter, none other than alastair stewart. >> joining me are mom lieu kiuc her children george, and at the front of my desk is iris who will do whatever she chooses to do thank all of you for coming in that's it this lunch time. i think we'll have a more peaceful time at 6:30. >> he's the master the best british news reader the last 20 years. >> really is very cute. >> dealt with that brilliantly i ritz, super cute >> on twitter, the trendi trending #toddlertakeover. >> we go we never had kids on "worldwide exchange." what would you do it a kid mropd up he kid plopped up on the desk. >> we could get through it. facebook did not win the rights to stream nfl games this

season it will still bring live football to its new video tab this fall. facebook announcing a deal yesterday with stadium a digital sports broadcaster to stream 15 college football games stadium will produce the games the deal includes nine games from conference usa and six from the mountain west. the first game will be on september 2nd between na miami ohio and marshall. coming up, the must reads, including the right way to brag on instagram as we head to break, let's check anoth another -- have another check on oil prices in light of that storm due to hit texas and the gulf region. not really seeing a response in oil prices, which are lower. 48.25 for wti. [brother] any last words?

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welcome back to "worldwide exchange." i'm wilfred frost along with seema mody time for our must-reads. my pick is in the "new york times," titled the right way to brag on instagram. it comes off the back of the much talked about post by steven mnuchin's wife, stepping off a government plane recently and starts with the criticism of that then goes through these are the ways in which you can get away with bragging it's well worth the read do share your good fortune, don't lay it on too thick. do express appreciation for gifts. don't express your entitlement

to continue to receive them. quite a long one a good list. >> good fyi? >> particularly if you're someone who tends to overpost selfies, that type of thing. worth reading. >> social media the premise is to express yourself, share interesting color about your life. >> you want your friends to see what you're up to. >> at the same time -- exactly >> my pick is in the "wall street journal." it's titled president trump needs a special envoy in afghanistan. it reads given his determination trump to win in afghanistan the president needs a dedicated diplomatic "a" team in kabul and washington for too long the civilian side of our mission in afghanistan has been wanting not for lack of numbers, expertise or dedication but from a lack of a well defined purpose. the united states has been in afghanistan trying to create peace. also reform its economy for many years. nothing has changed, under the obama administration or bush

administration if trump wants to see change there, perhaps putting together not only a diplomatic effort, but handing somebody who can handle the talks between afghanistan and pakistan which is highly criticized >> a lot going on there. not just that 16-year war. pakistan has its own elections coming u.n. next year which will be crucial we're approaching the top of the hour that means the team is getting ready for "squawk box. joe kernen has a look at what's coming up. >> it's funny, great minds i know you know how to do it i wonder if wilfred would say it like i would >> this week, you have really gone after me. >> you make it sound like ugly american >> is that your impersonation of my american or british >> that's my impersonation of you impersonating me

it's like when you say twitter i can do you with "squawk box," "squawk box. or twitter it's worse you know what i was looking up, kelly -- kelly evans is here why do they call it the dog days in sweden, they have dog days. they began on the 22nd of july they ended on the 23rd what's today's date? >> 24th. oh, happy birthday to my mom. >> that's nice >> bing. the light bulb goes off. i still feel doggy >> you were going to tell us why that he were called dog days >> i don't know why. hot, sultry, people are on vacation the markets have been moving around a little with some volatility and some daily moves, we have not gone anywhere. i'm wondering when we get back to school, people go back to work, trying to figure out a

theme to decide what's going on in the markets >> still up week to date >> yeah. then i was wondering, i think the dog is god's greatest creation, because i have three of them. they all go to heaven, and they're just the greatest. why are dogs of the dow? dog days of august >> you mean it should be cat days >> i agree >> we have scott gottlieb, that's always fun, the new head of the fda a lot to talk to him about andrew and i talk about sugar all the time i think it's a guilty pleasure i know it's empty calories but tobacco, that's the only product in the world where you know beforehand after the people that use it will die from it yet you still see these people spoking. so we will talk about that he wants to put tobacco out of business once and for all.

that would probably be a good thing for society. sugar i'm not so sure. if i want a piece of chocolate, i'll just eat chocolate. you know what you're getting >> but, you know, where do you draw the line? what about alcohol what abo >> what about alcohol? alcohol has sugar. >> if alcohol was discovered today, it would be illegal i'm not suggesting that. >> we should try that. >> we can't ban everything >> see how that goes if we outlaw it, no one will get it, no organized crime >> i don't think you'll end up banning cigarettes alas. >> or alcohol again. we tried that. >> "squawk box" in nine minutes time we look forward to that joe, kelly and andrew coming up, the fed today as the annual jackson hole summit gets underway in wyoming we're back in just a few minutes. for your heart...

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on what matters to you. morgan stanley. welcome back to "worldwide exchange." i'm wilfred frost along with

seema mody u.s. futures pointing higher, 33 points on the dow. comes off a day of declines yesterday. still higher week to date. the nadz dsdaq up a percent. the dow up 0.6% for the week let's bring in bruce kasman from jp morgan. let's kick things off with what we can expect from jackson hole. i suppose this year it's a tale of how little they can say as opposed to how much. >> that's right. we don't expect much the issues are on the fed side whether there's a discussion in janet yellen's speech on financial stability as part of the monetary normalization mars speech in both cases not looking for much i think janet yellen will talk about financial stability but shy away from the linkage to the normalization process. if she connects the two, that would be news. on mario draghi's side, he will talk about the path towards

normalization. not put much emphases object currency if the currency came in that would be news. >> the political headlines out of washington, the concern over the prospect of a government shutdown, president trump threatening he will shut the government down if a border wall between mexico and the united states is not paid off what are your thoughts on this shutdown happening and the impact that could have >> i don't wanted to be forecasting plitt kaolitical developments like that but it's not in our forecast that we'll have a disrpuptiondisruption i think if we had a volatile disruption in financial markets, that could slow that down. short of that, don't think we'll see the fed delay on that front. we're not looking for the government to shut down, but certainly the risks are there. >> bruce, we consider the global picture, of course that will be discussed this week at jackson hole the similarities in europe as there are in the u.s

growth numbers and unemployment numbers are encouraging, but no inflation. what makes you think is on the policy front and whether there's tailwinds enough for global trade. >> i think both economies are doing well in terms of growth, the euro area is more impressive than what we're seeing in the u.s on the monetary policy side, inflation is a factor for central banks. for the fed not to get in the way of the balance sheet adjustment but the inflation news puts a significant risk on their guidance that le will raise rates one more time this year for the ecb, inflation levels are low, though we are seeing a modest move up it will be interesting to see how mario draghi talks about that in regard to the currency still the level being low, which is a big factor keeping them from stabilizing the balance sheet to sometime in the middle of next year. >> bruce what about your view on china? we had some slowdown numbers, then we've just seen various

metal prices take off over the summer because of more demand in china. >> i think china is slowing a bit as we move into the second half of the year by our estimates, from a 7% base to 6.5%. as you say, it's interesting that some of the data on demand has been stronger. we'll have to watch that i think the key point on china is whatever is happening, it's probably not very large either on the down side or the upside i think we've gone through a three or four-year period where china slowing has been a big part of the global scene we think we're in a more stable environment. as we look through the next, 6 to 9 months. whe >> where does the energy sector go from here. >> we have energy broadly stable here there's a mix of solid demand and reasonably positive supply dynamics, at least positive from the point of view of a global growth >> we have to leave it there,

i'm afraid just tight on time thank you very much for joining us bruce kasman of jpmorgan "wldde it for orwi exchange." th this is a financial transaction secure from hacks and threats others can't see. this is a skyscraper whose elevators use iot data and ai to help thousands get to work safely and efficiently. this is not the cloud you know. this is the ibm cloud. the ibm cloud is the cloud for enterprise. yours.

good morning it's the woodstock for central bankers. is there really a woodstock for these guys i don't know the jackson hole symposium kicks off today. we'll tell you what to expect from the fed heads in wyoming. uber reporting a big jump in bookings in the second quarter amid new rumors about its ceo search amazon gets the green light. the online retailer one step closer to its 13$13.7 billion acquisition of whole foods it's thursday, august 24, 2017,

"squawk box" begins right now. live from new york where business never sleeps, this is "squawk box. good morning welcome to "squawk box" on cnbc. live at the nasdaq market site in times square. i'm andrew ross sorkin along with joe kernen and kelly evans. becky quick halt day off look at u.s. equity futures now as we figure out which way the market will set itself up. the dow looks to open higher by 38 points. the nasdaq up about 7 points the s&p 500 up neighbor 1.5 points higher. overnight in asia. we'll show you what has been going on bit of a mixed picture there the nikkei down marginally shanghai down. hang seng looking on the green side if you swing over to look at european equities, looking at green arrows across the board.