good morning 10:00 a.m. at harley-davidson in milwaukee, 11:00 a.m. here on wall street. "squawk alley" is live ♪ ♪

good morning welcome to "squawk alley." with me, sarah ice en, david farrell. the s & p is down about ten points cbs is definitely one of the underperformers today. david, you have been following this story very closely. >> we have been for a lot of months we have been following this story, in fact. got more to it now shares falling about 4%, after 6% drop friday investors weighing the potential consequences as the cbs borard set to meet later today to discuss sexual misconduct allegations against les moonves. joining us, jeff sonnenfeld. won't show the viewers your crazy notes. >> looking at my cheat sheets. it is completely legible so i don't see anything libellous. >> what are the directors thinking of ahead of the meeting and what should they be thinking about? >> one thing, there are too darn

many of them 14 of them outside of banking, you don't usually see that large a collection these days. at the average days of a fortune 500 ceo is 45, average age of this board is a little over 75 they realize that they have a lot to be considering such as how do young women feel working in a place like this now it is not reflected on that board. the youngest person on the board is a woman, and that's martha minim minnow who stepped down as dean at harvard law school. interesting twist. you would be the only one to think of this, hopefully i beat you to it, her dad was on the cbs board, one of the longest members. bill paley, founder, brought him on board to clean up cbs this place has had the worst ceo

succession history since bill founded it in 1928. >> haven't had to worry about succession a long time, they've had a ceo that's extraordinarily good at his job. it would appear at least that may come to an end what do you think about as you're the board as well in terms of trying to maintain order. talking about a company that lost 10% of market value the last two trading days. >> anybody in this industry, including you, think of les moonves, you think of this incredible string of hits, ncis and "survivor. he is the one that found the guy that created "the apprentice." all these other great shows, "csi." this should not be the ceo job to pick these great shows. he is a finance guy, seen other finance guys do well in media. i think you had the best solution i heard earlier today you

suggested this third course rather than some stare down options between viacom and cbs and the rest and that is that he take a preemptive exit in the midst of investigation spares himself the indignity stealing your lines, very successful 15 year reign why drag us all through it these allegations -- >> have the potential for further allegations as well. can never forget that. in many of these instances, jeff, there are others that come after the initial story. >> at this very network, as we know, that very network, not this network at cbs, of course after the issues came out in cbs news. >> charlie rose. >> they had 8 allegations, 27 followed this spring so you don't know if others will come out one thing i would differ with as some suggested on air today, this could take a few months of

investigation. it shouldn't if it is -- they've spent so much time and the rest of the media, this is not like robert mueller. this should be a one week investigation. there's no reason. i know a lot of firms that do this it is almost down to a factory machine. they know who the victims are, others come forward, great to get the corroboration is not that hard. it shouldn't take that long. but i think maybe as kay suggested he ought to step down temporarily at least so you don't have the awkwardness. >> there's a lot of money at stake as we said earlier potentially for him. >> i want your thoughts on the statement from moonves via cbs it kind of surprised me. it was more honest than i would have expected. i recognize that there were times decades ago when i may have made some women uncomfortable by making advances, those are mistakes, i regret them immensely, i always understood, respected and abided by the principle that no means no and never misused my position

to harm or hinder someone's career he acknowledged those advances do you think that was the right move >> he may have had no choice if the evidence is so clear i admire him for saying it we don't want to make him a hero charlie rose made almost identical statements and others closer to us that made similar statements when facts were so clear out there, so he had to say that i think that if you take him just at what he said, and this is saying what he is still entitled to due process, if even what he says is true, raises a question his own employees, people he is doing business with making vanlss towards, that was unprofessional behavior 60 years ago, 20 years ago or 10. >> six women have accused him. four women on the record pretty damning evidence. >> hard for them to come out what does it say for a comfortable atmosphere for other women to work there. how does it effect recruiting and advertisers. i think for him to step down

now. he has a great severance package. >> he does. >> but only half what he practically makes a year >> it is $180 million. >> he is making 70 a year. >> one of the most highly compensated ceos year in and year out their argument is he has the returns that prove it. i want your thoughts on the one woman that matters sherry redstone. how does she play it clearly it is an area for my reporting, but curious on your thoughts of the dynamic there of the controlling shareholder in the meeting and of course she's a woman. >> it is very interesting. she has a stake in this. lot of times you would say as a related party transaction, a lot of viacom discussions with cbs, she couldn't be a party to this is a staffing issue some people probably unfairly

raise suspicion of timing here >> everything i have come up with indicates that's not -- >> and the choreography is crazy. it is the fourth time from their founding that viacom was created by cbs originally came together, apart, together, apart, and i think that the awkwardness of whether or not the deal makes sense is one thing, but fighting the politics and personalities, sherry redstone is dressed for battle took on philip demon who made more with much poorer performance, much more than les moonves making and more than bob iger made. she took him out with lots of litigation i think she's used to a tough fight. i wouldn't bet against her these assets have been horribly mismanaged brand new guy running studios at

paramount. they haven't had much since days of "the godfather" and things, and mtv and nickelodeon. >> there's a lot to unpack there. we're out of time. >> thanks, jeff. take your notes with you. >> i copied down what you said i steal your lines. >> he is like an expert on all boards. >> he can tell you whose grandfather was on the board 20 years ago, 40 years ago. >> thanks a lot. appreciate it. thank you. tech stocks, another rough session for technology nasdaq in the middle of a drop all faang names are lower, facebook a loser after losing $100 billion in market cap last week this is apple and tesla are going to report earnings dan morgan, senior vice president and portfolio manager. dan, the fact that these stocks continue to bleed after a

beating last week, does that indicate a shift in sentiment towards the whole group? >> i think technology is strong year to date we had a sour note friday with twitter's numbers that rolled into the weekend i don't think core fundamentals, changed. we have strength in cloud, artificial intelligence and themes that are driving the sector i think the market is a little tired now. we have outperformance of the tech sector to date. >> i heard that argument, tired, crowded trades, needed to lose a little air then there's the bearish argument that a facebook, for instance, is saying it is no longer a growth stock. that has implications for value the rest of the year and beyond. >> i have the benefit of been in the media space.

and seen pull backs from different quarters here and there over the past ten years, but the way i look at it, as long as the fundamental long term outlook for stocks have not been altered what you saw out of second quarter print, then you want to continue to own your stocks in most cases want to buy into weakness for stocks. most stocks continue to benefit from different retail, commerce, cloud, ridesharing, advertising, viewership the way i look at it, you get them at a cheaper multiple today, tough line growth rate in 20% range in 2019, margins for most cases are expanding i will be buying these names investors look at the portfolios in december, they would say i wish i bought into these names in late july >> dan, do you agree especially with a stock like facebook which is down another 4% today, is this a buy >> facebook is an interesting

story, sarah as we know they ratcheted down the growth rate going forward for the next two years still looking at roughly 30% profit growth rate expectation for 18 and going into '19. the -- for '18 and going into '19 i still think facebook, we own the stock, we own it after it went ipo and it pulled back, we have a long history with it. if you look for entry point, i think you can find it the next couple of months we haven't changed the fundamental outlook on facebook at this point. >> victor, what about facebook's competitors? is facebook's loss their gain as the fierce competition heats up for advertising dollars or should they be falling in sympathy >> there were names like turner that's the direct competitor for ad dollars, i think the sentiment for stock, the

fundamentals changed for the positive i think they'll grow users after the whole quality clean up twitter benefits snap, i am cautious. they have challenges with advertising coming to the platform i think facebook and twitter continues to benefit certainly amazon is there as well, picking up advertising dollars within the space google as well they have youtube continues to grow like weeds. i think if you want to play the space from advertising perspective, still google, alphabet, facebook, twitter, and in my opinion amazon as well. >> victor, twitter lost 25% of market value in two trading days here why would they tell us how many daily average users they are, i'm curious, you liked it 25% ago, didn't you? >> listen, out there in early in

the year, stock was up almost 100% it was about $3 above, stock rosa b rose a bit too fast. daily users is a question everyone asks. % of monthly active users. the reason they gave is from competitor perspective, put out the number that everyone compares to snap i would like them to de-emphasize active users. i think it should move towards giving us that number to continue to work with it it is a number that grew in double digits for the past several quarters that's a number investors should focus on, not the number of active users. >> and the health of users as well thank you for weighing in. victor anthony and dan morgan. when we come pacback,

harley-davidson's push into electric vehicles. we sat down with the company's ceo for an exclusive interview that's next on "squawk alley." >> if i want to buy harley gear on amazon, i will be able to do that >> we're not being that specific yet. access is important. you may not walk into a harley-davidson dealership that may not be your first thought when you want to get your brother-in-law a birthday gift

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welcome back harley-davidson is unveiling new details in a plan to re-invent itself among the changes, bikes, including electric investment in the dealer network and a push to sell more gear more ways. i talked to the ceo about shifting production overseas take a listen. >> what does electric mean for harley moving forward, what's the opportunity there? >> to me, the biggest opportunity with electric is ease of use, the power, torque, sound creates a different feeling for the rider, almost like you're flying that to me was the moment i said there's something sort of incrementally valuable here in this technology.

it's not instead of, it's in addition to. this motorcycle is easier to ride than a bicycle, no clutch, no gears, no heat. i am navigating. no pedals to pedal the enabling technology of ev for degrcreating new riders, inspiring them with cool product, meeting them where they are largely in the cities with technology and ridership that's much more twist and go >> so in light of the strategy that you've unveiled today, what is the harley-davidson of the future looking like? >> i think one thing motorcycles and motorcyclists identify with is other riders, so this is about opening up that community, making that community broader, using product as a way to do that but also distribution we have this tremendous dealer network. you walk into a harley dealer anywhere in the world, they're dedicated to this brand and to our product and to customers and

to the experience of riding. and leveraging that community of dealers and riders, existing riders and new riders to build the sport, and that to us is what this strategy is all about. >> one of the things we didn't touch on was china and the growth opportunity there how are you approaching that, especially with the trade uncertainty? >> china is a very important market for us as it is for a lot of companies and brands and we see a lot of opportunity to invest to grow china number one, leveraging what the thailand investment can do on fo affordability is a big help. depending what that would have materialized as at the time, i think it was looking favorable to us, would have made economics more favorable to harley-davidson as it would a

lot of companies both candidates during the election were talking about exiting tpp, that's where we started looking at again i think tpp was a negotiation for seven or eight years these are very durable arrangements and complicated certain commodities like grain and soybeans are traded off against other things like motorcycles in the basket of trade between nations, so picking on one specific thing like motorcycles and assuming it is going to be easy to change, that's where it gets very complicated, very difficult. the administration is working very hard on this very issue we have endured economic trade barriers in our international growth we have competed on our merits and done well. we're in over 100 countries around the world and doing well, despite some of these things we would like a little more of a level playing field because we think we can do even better.

>> do you think we'll ultimately get that the administration signaled all of this is to get to that place. >> they are absolutely in line with what we all want, free and fair trade both. we have been consistent on that point, they have been consistent on that. little hard to tell now with the direction things are going where it will all land as a business, we're paying close attention to it, talking to as many governments as we can about what we're interested in as a business and brand and will make the best decisions when the time comes when facts and circumstances change. >> are you talking to anyone in the trump administration, to the president directly >> the administration has been very engaged, we have been very engaged, they have been very engaged since the election, in particular in india, the ustr, our ambassador to india, the prime minister himself i think with the president, i wasn't there, there were discussions around the duties that we faced in india, and there have been

discussions about how that could be changed again, we exist in a complex trading equation with india, so one piece is har d to move without the other pieces this reinforced that some of the things are durable and difficult to change which is why when they do change, we have to take action and make decisions in the best interests of the company and our stakeholders >> in terms of a plan that was announced today, it will be self funded, operating investment through 2022 up to $550 million. capital involvement for 2022 up to $275 million. harley expect it will jeb rate more than $1 billion of revenue in 2022 versus 2017. as you can gather, we sat down, talked more than 30 minutes. it was a wide ranging interview. given the fact that like it or not this is a company thrust to the forefront in terms of broader trade debate now, it is

front and center continues to be front and center as this company looks to re-invent itself. >> they must be happy when other companies say look, we have to change up the game or change our outlook because the tariffs or the trade tensions are weighing on business. today there's an example tyson foods, big producer of chicken and pork in this country, exports a lot of meat abroad, cut the outlook, saying combination of change in global trade policies and uncertainty of any resolution created a challenging market environment i think certain industries feel it worse than others harley is not alone, though it has become a poster child. >> exactly it is not the only motorcycle manufacturer either. polaris after harley made its announcement last month said it, too, is probably going to be shifting some production of indian motorcycle brand because

of retaliatory tariffs in the eu that fell below the radar versus a lot of attention and criticism and backlash we have seen harley face >> harley is a name that sort of resonates, more americana. >> 115-year-old iconic american company. and they were last year on the lawn of the white house to talk about this very topic, trade, with president trump so i guess all the more reason this interview was so important at this moment in time. we're bringing in former general motors vice chair bob lutz that join joins us now >> hi. >> i want your reaction to this interview and the fact that the ceo multiple times when i spoke to him used the term durable when he was talking tariffs and tariff landscape on a global basis. as somebody who has many decades in the auto manufacturing space, are tariffs durable?

>> well, i agree with everything he says. we live in an environment where the framework within which we do business is set by the governments of the world, and that tends to change cost and revenue relationships. you analyze the situation and you do what you have to do for the shareholders by the way, i would point out a historical fact that nobody remembers but in the 1960s, harley-davidson imported a lot of bikes from italy. it is not the first time harley will be producing offshore and moving bikes into the united states but there's no arguing with anything that he said. >> i'm glad you brought that up. when i was sitting down with him, he pointed that out one of the things in the announcement today is the fact they're striking a partnership, a collaboration with an asian manufacturer to launch a new bike into the india market in terms of looking at

production, and use it from the harley lens, the fact that they're shifting some production overseas, opening a new facility in thailand now, how much does that speak to the fact that if you are even an manufacturer manufacturer that you have to have a global manufacturing footprint. >> yes you have to have a global manufacturing footprint. if you ask president trump, i'm sure he would tell you exactly the same thing the problem is when the footprint is not global and not balanced with a certain stable or slightly growing level of production in the u.s., but it is a constant decrease of production in the u.s., outflow of manufacturing jobs, outsourcing of more and more parts because of trade inequities or government regulations which is sometimes the cause also that's when you get worried. everybody, look at boeing. a large percentage of every

boeing jet is made from parts made somewhere else and probably assembled in the united states bmw, a german company has some motorcycles built in india and sold under the bmw brand around the world. so that's normal but what we haven't had is a stable ituation. we have had more and more going out and less and less at home. and that's what the president is trying to fix. as you saw in the interview from the ceo of harley-davidson, he said basically we support what president trump is trying to do, which is to bring about free and fair trade >> do you think we get there in terms of free and fair trade, seeing tariffs fall off in many markets where they continued to persist? >> we don't have free and fair trade in a lot of commodities. that's why president trump is working with the european commission and looks like he is

going to get some concessions which is fine, but when other countries have extremely high tariffs on u.s. products or even block certain products to protect their own agriculture, their own industry, and we in the united states say come on in, we're so rich and powerful, we can be everybody's biggest market, and meanwhile we are destroying jobs at home, that's the part that doesn't make sense. this so-called trade war that we're having is designed to correct that none of the retaliatory tariffs we're seeing now, none of that is going to stick. that's all part of broader negotiating framework. >> bob, thank you. great to get your thoughts bob lutz. >> thank you as we head to break, this is an interview you're not going to want to miss jpmorgan chase ceo jamie dimon sitting down with cnbc it will be an exclusive.

it is today on "closing bell" 3:00 p.m. eastern. "squawk alley" will be right back

let's get to seema mody. >> european markets falling from a six week high as trade worries continue to linger officials from canada, eu, japan, mexico are reportedly set to meet in geneva this week to discuss their response to president trump's threat to impose tariffs on foreign auto imports, that according to reuters, german dax down heineken cutting its outlook for the full year after reporting earnings that missed analyst expectations heineken said its operating margin would drop by 20 basis points, compared with the previous forecast of 25 basis

point increase the stock down 5%. look ahead to this week. italian prime minister meeting with president trump today at the white house. investors digesting a host of monetary policy statements from the u.s., japan, uk, brazil, and india. meantime, ahead of those statements, eurozone bond deals rising on the back of a strong italian bond auction and positive data from germany the highest level since june this year. back to you. >> thank you seema mody at headquarters. let's get to sue herrera who has a news update for us >> indeed i do thank you very much, david good morning, everybody. here's what's happening at this hour firefighters report northern california's largest wildfire grew to 153 square miles overnight. the carr fire is 100 miles southwest of redding, killed at least six people

it also destroyed more than 700 homes. greece's prime minister visiting a seaside resort north of athens where a wildfire killed people. that fire is under investigation. and investigation under way into who painted nazi graph eff on an indiana temple mike pence calling it a cowardly act on twitter. gasoline prices dropping regular unleaded fuel is about 3 cents cheaper. the nationwide average is $2.90 a gallon, but still 59 cents more expensive than this time last year. you're up to date. that's the update this hour. back downtown to "squawk alley." back to you. >> sue, thank you. coming up. the future of cbs, ceo les

moonves up in the air after reports of sexual misconduct the company's board set to be meeting later today to discuss the next move. we'll look at what it means for cbs and the broader industry "squawk alley" is back with the dow down 53 points

cbs board of directors is set to meet today, will discuss

les moonves' role going forward as he faces sexual misconduct allegations. news broke late friday that included harassment accounts from six women the company set to report earnings later this week kara swisher, executive order tore of recode always nice. what's your -- executive editor of recode. what do you think as the board gets together to debate his future >> it is a complex issue as all of these are he is a very important leader at cbs. at the same time, the allegations are really serious they did take place many years ago and at the same time does that matter? they've got a lot to weigh here. the question is which one, should he have a temporary fill in while they're being investigated they're in the middle of a fight over what happens to cbs and viacom it is incredibly complex, the things they're weighing at this moment in time so there's all kinds of things going on i don't know what i would do if i was a board member i do actually, but they have to

do the investigation and find out exactly what happened and then make a determination, until then i don't think we're going to know anything. >> you said you know what you would do i asked everybody to play board member jeffrey sonnenfeld, what would you do if you're a board member. >> i would put him on temporary leave until the investigation is over that's what i would do then i would see the conclusion of the investigation i don't know what else you can do, especially since cbs, and les moonves, have been outspoken of zero tolerance of this kind of policy, that's probably what you have to do on a temporary basis, and go with the investigation, and put it against what ronan farrow wrote, and he has been stellar in terms of the reporting and on point. i would wait until then and move from there allow the investigation to go forward, allow les moonves a chance to defend himself and to do a fair hearing of what happened among the women who

were impacted and everything else >> yes and as i pointed out, of course, you never know allegations tend to come after the initial story as well. i want your take on facebook. >> sure. >> happy to have you this morning. it is down 4%. we know lost over 120 billion market value last week not an insignificant loss today. what is your reporting, what went on during the course of this quarter that they would change guidance so drastically, do we know >> i think the increasing costs of what's happening, this content. they have content moderation and all kinds of increasing costs across facebook. as they begin to sort of unwrap what happened with cambridge analytica and other things in the company, i think the costs have gone up significantly at the same time people are using different parts of facebook as all of the services, they change. and i think they saw a move of more people in instagram, that

growth was plateauing, and at the same time this confluence of situations, including bad i don't want to say public relations problem but that's what they have, but it is bourne out -- borne out of problems at facebook they have paid attention to costs of the high growth business without a lot of checks in place now they're going to have to pay for it sooner or later everybody pays the price. the bill comes due i think that's what's happening here. >> they're clearly grappling with all of the big issues, how they're going to control it. suspending alex jones of info wars for 30 days without suspending the info wars page which also spread false information. do they have a handle on this and is facebook more vulnerable to these types of issues and privacy issues than the rest of us >> i don't think it is ever going to stop.

it is the human race and they're not a private company, they're a public company, but not the government. i'm not sure why they can't make clear rules and stick to them. i think that's the problem because they aren't making hard and fast rules or making did you have decisions, like disney fired roseanne barr. then you have the british report that came out over the weekend, you know, talking about how they were very forthcoming with information. this stuff can spin out of control. it will be a million versions of info wars going forward. they've got to get a handle on what they want their company to be in a lot of ways. >> and the other piece of this, when you look at facebook earnings, gdpr, new privacy rules in the eu are having on internet based companies, we got

more rhetoric and commentary from regulators, for example, in europe in the last couple of days do you expect that to get even more stringent or tighter on facebook and competitors >> oh, yeah, i think they were suggesting a number of regulatory reactions that were pretty stiff then it is a question of whether it will bleed into the rest of the world, especially in the united states, one of facebook's biggest markets. so what will regulators here do? there's a lot going on in this country, hasn't been a lot of regulatory action on facebook, but there are hearings coming up and the more they stay in the public eye on the issues, the less good for their business, and less able to be innovative around their products, which ultimately, i always talked about this, this is not what's going to hurt them what will hurt them is lack of innovation in their products the eye is not on that ball, they cannot with all of the distraction, they cannot focus on products. at some point someone else will

come up with a better product because that's how it always happens. that's what i would be paying attention to, where they're going to go with this business next and where the next great area of growth is. that's always a difficult situation for any internet company of a certain size. >> does that mean monetization in advertising on what's app and facebook messenger >> sure, and instagram does someone like kevin cystron, they kept that site classy, clean. you don't hear as many problems on instagram what's app is different. they have to get more money out of the other properties they paid for and the question is will that impact them. again, this requires a management team that can focus on that when they have to deal with in and the hearings -- with this and the hearings. these issues are incredibly

complicated. last night i had a dinner party with a bunch of people that cover facebook and stuff like that, and none of us think this is an easy thing that's the problem is that it is so complex and it is never ending it could go on for quite awhile, then costs will escalate in order to fix it. same with google and other places, youtube. >> i keep going back to mark zuckerberg's toned up comments about holocaust denial as a point to think about all of this, even though he clarified that do you think that that comment speaks volumes about how they're trying to clean up some of the issues the company has created >> yeah. i think they're bringing in a lot of experts and people to talk about this issue because it is like you're talking about humanity, how we treat each other and everything else. this is a company, people that make motorcycles or farming don't think about the large ethical issues, i hate to quote the godfather, but this is the

business they're in. they have to figure out, they're making a lot of money, and have made a lot of money, a lot of growth here are thorny issues and damage they created in the real world, and then they have to weigh free speech versus hate speech versus violent speech it feels like you're in a freshman dorm debating these issues of the world except this has real life implications so you know, i don't know. i think it is going to be relentless, especially as we go into the next political season and there's added pressure of the elections coming up all over the world, not just here in the united states, but everywhere. >> does feel like a ripe target for bipartisan bashing >> the democrats if they get in trouble will be problematic. >> always good to get your take. kara swisher coming up, beverly hills property listing the first of its kind, coming to market at a whopping $1 billion.

an inside look at what you get for that price rick santelli, what are you watching >> watching the long and ten year, getting close to 3%. we had 22 sessions in the 280s that ended a week ago friday last week, within a three basis point range. 295 to 298 where are yields going we talk about that after the break. eligible for medicare?

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alle alley" you know, before we get to the charts and the bhit white board, last week of course we had gdp, pretty good, 4.1, and there were reinvestigations not only to the last couple ofs. they went back years i talked about rolling averages. revisions changed some of the work but in a small way and specifically if you look at and eb efb's interested with what happened in the fourth quarter of 2016, all those seven are still higher, very tight with regard to variance so it didn't change the point i was trying to make, but there was years worth of benchmark changes. for ten-year note yields today, up to 298 can't quite get to 3%. last week, 94.7. 97.5 we had a really tight closing yield range. inand cleezing prices are the most deficient, but the real

question as we get closer and closer to 3% is what's going to happen when we get there history gives us many clues. here's a a chart of ten-year note yields starting in the beginning of 2012. in july of '12 and of '16, we had one of the best historic double bottoms ever in ten-year notes. both times, it gave you a good lift off and remember on double tops and double bottoms, if they're at extremes, if you have more distance of time between them, usual lyric the more powerful and historic they are look at these double tops. it leads to be me to the current issue. we're dabbling right under 3%. this is almost a give me if you think about patterns and how ten years respond. why is it a give me? because anywhere as we started to break out of the the 280 range, you started to get short treasuries looking for higher yield.

statistically, you're going to double top close to 311 or go through. either case, it leaves you lots of basis points to trade for we can't tell if it's going to be one of these or an extreme that takes us higher we're going to see 311 now we're going kick it back to ma morgan >> thank you when we come back, more on the fang sell off. got more "squawk alley" after the break. but it's not kayak confident. kayak searches hundreds of travel and airline sites to find the best flight for me. so i'm more than confident. how's your family? kayak. search one and done. ayep, and my teeth are yellow.? time for whitestrips. crest glamorous white whitestrips are the only ada-accepted whitening strips proven to be safe and effective. and they whiten 25x better than a leading whitening toothpaste. crest. healthy, beautiful smiles for life.

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take a lock at shares of facebook down nearly 4% as the stock slide continues for the social media company. down about 20% over the past week more after the break ♪ ♪ our new, hot, fresh breakfast will get you the readiest. (buzzer sound) holiday inn express. be the readiest.

tech stocks leading the major averages lower right now specifically fang names, facebook, amazon, netflix, alphabet, apple, all lower today ch apple ahead of the earnings everybody's so closely watching after the bell tomorrow. >> and twitter is getting hammered e again after steep slides last week technology continues to be a weak spot for this market which raises concerns because ever since the election in 2016, we've seen this big market rally. tech has been the leader and so has fang, so can the rest of f the market work. so far, you have strength in fames like materials and energy, b financials even doing better caterpillar raising its outlook. adding 18 points to the dow. overall u indexes are being weighed down we'll see what anning shows. >> absolutely. all eyes will be on that tomorrow >> tesla is going to report

earnings interest rate decisions from the federal reserve, bank of england expected to raise rates this week bank of japan, where there's been lot of chatter. >> then jobs on friday >> another fun one >> that's does it for us on "squawk alley. over now to scott and headquarters for the halftime report, scott. welcome to the halftime report top trade, the question that could impact your money more than anything else in the months ahead. whether value stock finally falling back into favor at the growth trade seems uncertain here to debate, joe, jim, steve and sarat. congratulations on being named one of the final times top 300 financial advisers congratulations. stocks are gearing up for a big week critical earnings.