it's 5:00 a.m. here's your top five at 5:00 breaking news, coca-cola is buying the world's second biggest coffee chains for $5 billion. stocks snap a bit. markets end their four-day win streak following a report that trump is backing new tariffs on 200 billion in chinese goods china is not backing down. it's deadline day. the u.s. and canada moving into an intense rhythm as the two sides rush to strike a trade deal tonight. and tesla troubles blackrock voting to replace elon musk with an independent

chairman it's august 31st "worldwide exchange" begins right now. good morning happy friday good afternoon, good evening from wherever in the world you may be watching. i'm brian sullivan u.s. futures not doing a whole lot. unless we get some craziness today, it will be another good month for the stock market every day on "worldwide exchange" we bring you the one big number that you need to focus on every day today that number is 5%. that's the nasdaq's gain this month. it's been quite the run for technology stocks over the last 30 or so days. this is the day move not much, but this month has been very solid. we'll get more on your money in moments. once again we have to begin with trade. china is now responding to reports that president trump wants to impose tariffs on 200

billion in chinese goods by next week the chinese foreign minister says putting pressure on trade will not work. more than 50% of imports he says would be subject to tariffs. keep in mind there's a few confusing headlines out there. it's not 200 billion in tariff,s, ittariff, it's 200 billion in goods. trump rejecting an offer from the european union to get rid of tariffs on cars in the u.s. if we did the same. he said the offer was not good enough trump said the eu is almost as bad as china, just smaller european commission president jean-claude juncker reacted this morning saying the eu will be forced to respond if the u.s. goes ahead with tariffs on automobiles rounding out the triple play of trade today, maybe some good news united states trade talks with

canada are moving forward nicely the two sides rushing to strike a deal by today's self-imposed deadline set by the trump administration earlier this week if you're confused by the trade stuff, do not worry. you're not alone there's a lot going on joining us to clear it up is jimmy petakoukus we have trade with china, eu, canada, it's happening all over the world. the point about the 2$200 billin number i keep seeing 200 billion in tariffs. that's factually incorrect it's 200 billion in tariffs ones good and services. they're very different things, are they not >> they are different things, but still a big number, especially if the tariffs in china go to everything go to all things, then 5$500 billion, 10% on 500 billion is a

lot of money i expect before this is over we will be slapping tariffs on just about everything china sends us. >> on cnbc we highlighted small businesses being hurt by these tariffs, but you're talking about 50 billion, 60 billion in total added tax. that's about the same of a 50 cent rise in the price of a gallon of gas. it's important to people, but do you think it's enough to crash the economy? >> i don't know if it's enough to crash the economy i don't think you can look at it in that static way >> i'm just trying to make a comparison >> right i mean, i think there's a value in that. there's also a value in how that effects company supply chains, how they go about business, more dynamic analysis, and if the eventual response from china since it cannot match a sort of

dollar for dollar tariffs, if it starts slapping different kinds of restrictions on u.s. companies. apple is an obvious target we could have a big impact if this escalates i sort of expect it to escalate. >> what happens then let's say we do it china retaliates as much as they can. what's the worst-case scenario are we going back to the '30s? >> i think the goal of the administration -- there may be multiple goals i think the president is focused on the trade deficit he wants other countries to buy more of our goods. the goal of some people in the administration is to fundamentally change the global trading system have a lot more things made in the u.s., bring those supply chains home, back to the u.s if you're talking about a massive disruption in the global trading system, that's difficult

to model i think it means higher consumer prices in the united states, a less competitive -- >> but do you think -- >> if you're asking me is this going to crash the economy, i won't predict it will crash the economy. >> how about this. do you think it will work? will we make t-shirts in america again? do we want to? >> clearly we don't want to do that i think they may have some success in bringing more prod t production back to the united states, but then you will find companies moving production overseas i don't think you can go all the way back, but some people in the administration would like to try who don't think consumer welfare should be the main goal of u.s. economic policy. >> jimmy, you got up early and you came a long way. can you stick around for a few minutes? i want to ask you about trump versus big tech. >> like the u.s. canadian trade

negotiators, we have an intense rhythm, i want to continue that. >> the rhythm will get you the rhythm is going to get you see you in a bit he's how the markets and your money are reacting to the news we just showed you. u.s. futures are down. dow down 6 points. in asia, most of the asian markets are falling a bit overnight. our big number of the day, the nasdaq up 5% this month, the chinese shanghai index fell 5% in august. the shenzhen down 8% just this month. european markets are also slightly lower across the board. germany down about 1%. let's tie a bow on all of this and bring in art hogan from b. riley financial. you were probably itching to get into that conversation that we just had with jimmy p.

trade is this massive overarching story. but the nasdaq is up 5% this month. the markets don't -- the markets don't seem to care how come >> yeah. i think there's a couple things here if the market looks at this as an exit ramp on the trade war highway at some point in time. you will see the market has reacted positively when we get good news on trade when we didn't escalate with the eurozone, the market got higher. when we look at a deal with mexico, the market goes higher negotiations with canada seem to be going better, the market has a tailwind when we get trump's comments about the eu deal not being good enough, the market takes a pullback we're stuck in a tug of war now because we will probably get good news on canada. and we're stuck with we're getting more aggressive, escalating with china and not accepting what the eu has to say so star far in negotiations.

i agree with jimmy, this won't crash the economy, but it's not good during a midterm election cycle when china will come after a lot of the trump voters and the trump voters products, it will be difficult for republicans to make a strong case >> you used the off-ramp analogy. did you ever see the movie "thelma and louise?" >> absolutely. >> spoiler alert, at the end they drive off the cliff they hold hands and go sailing off. what if there is no off-ramp what if everybody digs in like two kids in third grade at recess and start throwing punches after mouthing off for a while. what's the worst case for the stock market >> that this is a long drawn out mutually destructive trade war with china and they have other things they can do they can say let's boycott some of the services. your economy is 85% services let's boycott apple products

let's not let you have business access to our economy. all those things that are non-material right now in terms of the negotiation process become material as this draws out. i think it makes more sense to have an end game in mind and say we would accept this here is our end game if we get close to this, let's declare victory. >> when do we know we're safe? when do we know this puffery will turn into something more and it's time to put cash in the bank >> we've had a good run this year the calendar is not good in september and october. if you were so inclined to say this gets worse before it gets better, the best way to hedge yourself is to have a level of cash september and october is probably the time frame to start think being that it probably makes sense to have more cash on your balance sheet. fourth quarters in election years tend to be good. september and octobers don't

what are the odds that art hogan watches "thelma and louise" this weekend? 20%? >> a little less than that the top corporate story, coca-cola is making a big bet on coffee and maybe making a big shift into retail. seema mody has more on this. >> coke has struck a deal to buy costa from whitbread for 5$5.1 billion. the company says costa will give it a strong position in coffee in europe, asia and the middle east costa which was founded in london in 1971, is a rival to starbucks in the uk. it has nearly 4,000 retail locations and sells coffee in grocery stores and gas stations and has been growing in china. whitbread had been under pressure to separate costa from its premiere inn hotel chain for coke the deal leads them

into more healthier options as some countries have introduced taxes on sugary drinks james quincey said hot beverages is one of the areas where coke coat la doesn't have a brand, and costa gives us a access to this market with a strong couffe platform >> this is a massive shift into retail, with the exception of disney world, i don't know if i've seen a coca-cola shop anywhere coke is yew bi popular in the ui not? >> it is if coca-cola is trying to get more exposure to the consumer, this is one way to do that

>> seema mody, thank you more trouble may be happening for elon musk. blackrock voting in favor of a proposal requiring tesla to replace muss 1/4 k with an inden chairman the proposal would not affect musk's standing as ceo, but it sends a big signal to the tesla board that not all investors back their ceo this story is boring but important. the s.e.c. wants to make it easier for individuals to invest in private companies, startups like uber and airbnb and others. in an interview with the "wall street journal," jay clayton says his agency wants to give mom and pop, you, a shot at companies that have been previously out of risk private security is generally only sold to private equity and venture capitalists. regulators have typically walled off most deals from independent

investors. that's a big story. the retail war is heating up amazon making a push abroad putting major pressure on walmart. and what cool new tech will samsung launch next year we'll try to find oucot ming up next imagine traveling hassle-free with your golf clubs. now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com

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on the go and want to rent a movie? showtime. or buy the hottest shows. even here? we've got you covered. now they are all yours. to take on the go. on any screen. bingo! alright! and watch whatever you buy. wherever you are. head to xfinity.com/stream to start watching. simple to rent, easy to buy, awesome to go. welcome back amazon is going to start selling food and drinks online in

mexico that will include candy, snacks, even wine. the move could step up competition with walmart in new mexico online shopping accounts for a fraction of total retail sales in mexico. amazon views food and drink as key to growth. samsung unveiling some cool new gadgets. arjun kharpal has a sneak peek arjun? >> the big launch here was around samsung's new eye popping 8k tvs which they hope will be the future of tv they also spend time talking about the newly released note nine which came out earlier this month a discussion was around the price point. you thought the $1,000 iphone x was expensive, the note 9 costs $1,200 i asked whether we have the top for smartphone prices or if they can go higher.

>> i think we have the responsibility of going back to consumers, understanding what their wants and needs are. as long as we're able to surprise them with new features or new products that are fulfilling their needs, i think we can reasonably demand a little bit more. the example is the 512 gigabyte version of the note 9. >> so speaking there a bit about the price of phones and admitted they'll go higher because new features come in think about 5g technology, foldable display technology. i was speaking to an analyst on the ground who said he wouldn't be surprised if you saw smartphones in the range of $2,000 apple saying they will have their new iphone event on september 12th if we expect rumors about the new massive smartphones, you can bet the new iphones will be in

the range of plus 1,000. back to you. >> can you imagine a phone that folds in half with a battery that lasts a week? wait, we had that in 1997. it was called the startac. >> this is technology that's been researched now by the likes of samsung and lg, big players in oled screen technology. this is technology that these companies are hoping can revive smartphone growth in what is a slow world right now for smartphones. >> arjun kharpal, you're not old enough to remember the days when a blackberry would last ten days on a charge. thank you. trump targets tech the president upping the rhetoric against google, facebook and amazon. more on this with jimmp.y when we come back your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up!

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the trump versus big tech theme continues to heat up the president continuing his war of words against many of the big cap tech companies here's what he said at a rally in evansville, indiana last night. >> you look at google, facebook, twitter, other social media giants, i've made it clear that we as a country cannot tolerate political censorship, blacklisting, and rigged search

results. >> he also added we won't let them on trocontrol what we can,o see and learn from let's welcome back jimmy pethokoukis. you have written for "the week" one of the best magazines out there. you write for them you've been way ahead of the game on this topic, regulation, big tech, this pushback. do you think trump is laying the groundwork, a prodding or poking or sending a whistle out to his agency guys, hey, look into this >> i don't know to what extent this is just sort of a beginngi up the base, a permanent emotional issue for republicans, much like immigration, he can turn to to get people excited, or to what extent it can go beyond that. on democrats there's great interest to take action against the large technology companies,

particularly on the antitrust side there are some republicans who feel the same, who would like to regulate tech more heavily the president up to this point had been focusing purely on amazon he's now broadened it. he's worried about the bias issue. in an interyou haveview last nie threw around the word antitrust. we'll see if the current doj would take action against these companies because it's very difficult to do under the consumer welfare standard, but that can change as personalities at these agencies change >> these are not just some of the biggest tech companies in the world, they're some of the biggest companies in the world, some of the biggest stocks in the world. the president has gone after amazon, facebook before. let's focus on the company he's not gone after in fact, he's been positive about, that's apple.

is tim cook just a lot better than his other big tech ceo counterparts at playing this game >> i think tim cook has shown himself to be an amazingly savvy operator understanding that he needs to stay connected with this white house. tim cook has incentive to do so given the importance of apple's business in china. that could be an issue in this ongoing trade conflict i think you want to have the white house on your side you want the white house to think of your company as a national champion that must be defended i think tim cook has done a great job making sure the white house sees them as the good tech company as opposed to google and amazon and facebook, which i don't want to say are the bad tech companies, but the president has a problem with them >> maybe the bad in trump's eyes apple is not

jimmy pethokoukis, appreciate it thank you for sticking around. >> you bet let's check the other top headlines including preparations being made for senator john mccain's funeral this weekend. frances rivera has more. good morning washington, d.c. is preparing a hero's welcome this morning. the casket carrying the late senator john mccain arrived at . tomorrow a memorial service at the washington national cathedral, on sunday he will be laid to rest in a private burial at the u.s. naval academy. at least seven people are dead after a crash between a greyhound bus and a semi truck in new mexico. the semi blew a tire on i 40 crossing the median and slammed into the bus 49 people were on board. nearly everyone needed emergency care. there are new developments in the kaepernick collusion case in a big win for kaepernick, an

arbitrator has denied the nfl's attempt to dismiss thecation colin kaepernick started the controversy of players kneeling during the national anthem the nfl has declined to comment. back to you. >> see you next week thank you. seema mody is back with maybe the most important thing that you are not paying enough attention to globally ghnorit w. that's next. why did i want a crest 3d white smile? dinner date...meeting his parents dinner date.

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. breaking deal news, coca-cola going big into retail buying the world's second biggest coffee chain for $5 billion. china responding to reports that president trump wants to slap an additional 2$200 billion on tariffs on chinese goods. and apparently the death of movies has been exaggerated. we'll talk some winners and losers on this august 31st "worldwide exchange" rolls on right now. ♪ welcome back happy friday maybe you're an owner of an nba team in europe welcome. hi got a lot to get to. first let's get your executive recap of your top stories.

seema mody is back with those. >> let's check on what's leading cnbc.com right now coke has struck a deal to buy costa from whitbread for 5$5.1 billion. the company says costa will give it a strong position in coffee in europe, asia and the middle east blackrock voting in favor of a haven a recent shareholder proposal to replace elon musk with an independent chairman the proposal would not affect musk's standing as cfo. lululemon's second quarter profit nearly doubled beating forecasts with strong online sales growth same-store sales rose 55%. the china e-commerce business expanding more than 200% >> all right we'll see you in a few minutes. the latest on the global trade front. china's foreign ministry saying putting pressure on beijing will not work all of this as trump readies

tariffs on another 2$200 billion worth of goods on chinese imports. let's talk with daniel litman. great to see you on "worldwide exchange." thank you very much for joining us is trade -- you have so much on the docket you have trade, the tech fight i understand there may be investigations into the president. what's the hot topic for you and politico today >> i think we're looking at what trump said in that bloomberg interview about how he might pull out of the wto. it's interesting because there's a ton of reports about how he was thinking about this and the white house completely denied it now trump is saying i might pull out of the wto this is the worst deal ever. even though the creation of the wto has led to so much wealth around the world especially in

the u.s. lots of trade deals have been facilitated by a global rules based system >> it's so interesting you had steve mnuchin who basically said those reports about leaving the wto, they're not accurate he didn't say they were completely wrong, but implied they were misconstrued hour do we read this is this one of those things where the president flippantly said something and it got picked up in and interview now everybody else is left to walk it back? >> i think mnuchin, if it was up to him, there would be no talk of this. this rattles world markets and i don't know if this would help trump voters. they benefit from cheap imports, from t-shirts from china, from everything and they may not realize that the wto and based in geneva is helping them out and trump is not teaching that

lesson but i don't think the republican senate would allow that to happen the republican party was built on free trade. trump is trying to mold it in a more hop lipopulist fashion that's not easy. >> there is one person who is sort of left to talk up what the president may or may not have meant every single day, that's the steady hand out there, at least in person every day, it's sarah huckabee sanders do you think there's a chance she simply gets burned out and leaves that would be a big blow to the white house. >> i think you can't expect a white house top staffer to last four years so she has done the best she could. her reputation is much better than sean spicer, who had left under a storm of controversy

where his credibility was not at the peak so sarah huckabee sanders, they would have to find a replacement for that it used to be that jobs in the white house were highly sought after for any operative from the president's party, now it feels like the skeleton team there, not a lot of people rushing to send the resumes in. they even held job fairs for white house staffers >> anybody show up >> i think they did find -- there was a bunch of people. you can always find people who will apply, but maybe they're not of the highest caliber >> this is tough whatever you think of the man. i'm sure you know a lot of people in d.c. who would be happy to work in administration. i met people who say i don't even dislike the president, i like him, but they're worried about what that will do to their resume, which is unprecedented to be afraid to have that you worked at the white house on

your resume. >> i did a piece for politico magazine about how when people leave the white house, just leaving at the end of work, they will get shouted at sometimes. when they meet people at bars, they say i work for the federal government, not cop to working at the white house i think they worry about would a ge or a major company like ibm, who they hire them if they worked for donald trump and the presidency ended up in maybe impeachment next year. we don't know. but definitely corporate america is nervous about hiring these people >> reminds me of people that never wore goldman sachs gear again after 2008 used to walk around in it proudly, never wore it again hope to see you again soon have a great weekend. we told you that seema mody would be back, this is mody on modi currency moves making moves this

week sarah and wilf are much better at currencies than i am. they're massively important. we're seeing some huge moves lately >> not to sound overly dramatic. they are huge. look at the argentine peso it's in a free fall down over 20 just this week you can see the turkish lira down 10% this week the indian rupee at a record low. the big moves in the currency market underscore highway dolow dependent these emerging markets are. all of these countries are dealing with runaway inflation argentina's inflation rate is above 30%. despite everything the central bank has tried to do, raise rates, implement soft capital controls, they can't defend their currency and investors are losing confidence. so it's no longer just an economic story at play this has

become a confidence crisis for a number of these countries, specifically argentina and turkey not so much india. we're seeing some depreciation in the currency, but the stock market has held on for the most part this will become slowly a political story for a lot of those countries, especially with argentina and india facing big elections in 2019. >> we talked about it yesterday, oil is the one commodity in the world that has the potential to topple regimes you buy oil and gas in dollars in india the higher oil prices and dollar strength is crushing india could it cost their prime minister his job because people are fed up with the price of gas? >> a lot of people are saying prime minister modi, one of his biggest economic challenges ahead of the election are rising oil prices >> seema mody, thank you. still to come, a super summer box office. the big money winners and some of the dogs. later on, thinking about

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incredibles. this is after a terrible showing last year. hollywood has made a comeback this year with revenue coming in at roughly 4.5 billion, a 14% jump over last year. let's talk more about the movie business heading into a long holiday weekend with rebecca rubin. did we learn this year that the box office is not dead, that if you make adecent movie, police academy 12 maybe not one of them, if you make a good movie people will still go to the theater? >> i think that was the big picture this summer. the studios seemed to deliver. if you make a quality product it's something audiences want to see. if you're making a movie that's subpar, audiences will not want to come to the theaters and see it >> i asked seema to stick around i don't go to the movies, i have just one more question how long can this superhero theme -- our parent company, comcast and universal hopes,

disney hopes, how long can this superhero thing last will people get burned out on this ever? >> with marvel it doesn't seem like there's a sign of fatigue they have so many different genres within the superhero, it makes it feel different. we started off with avenge jers avengers infinity war, that did very well. and then ant man and the wasp. >> how did that do >> it did well it's more comedic, lighthearted. >> what do you think has made crazy rich asians so much success? is it that americans wanted more comedy >> i think we were due for a romantic comedy, but people want to see themselves represented on

screen it was two decades since asians and asian americans had seen themselves represented on screen like this in a big hollywood studio movie >> since the joy luck club >> right people want to see their culture represented in a positive light. more than that, it's a good, fun, summer movie. >> do you think the black panther and crazy rich asians will change the way producers think about making movies? >> movies like this are showing representation doesn't just matter it can turn a profit it's able to easily have mainstream appeal. hopefully it will embolden hollywood to take more risks >> best movie you've seen this year >> i would say i can't pick one but some of them were crazy rich asians, i liked mission impossible fallout >> what? >> seem m. . >> i did like crazy rich asians.

>> i think would like it, brian. >> one of my favorite movies is "the proposal. and i cry at forrest gump. >> and love actually >> rebecca, we'll see you again. you're opening us up like a therapist. >> happy to help >> seema mody has the top trending stories disneyland, an iconic watering hole from a galaxy far, far away is coming to disneyland and bringing a first time for the theme park the famous cantina from "star wars" will open up next year as part of the "star wars" expansion. cantina will serve alcohol the first restaurant at disneyland to do so. a big thumbs up from the adults, the parents who take their kids every day. >> after the rides

>> the actors behind marvel super heros are teaming up to brighten the day of a fan with cancer the family put out a plea on twitter asking for words of encouragement and super heroes answered their call. ryan reynolds, chris evans, hugh jackman were among the people to send videos of support very cute. >> that's nice good >> and if a $3 million bugatti sports car is out of your price range, maybe try the lego method a life-size working model of a bugatti built using 1 million lego bricks and 4,000 gears. the car runs, but only at 4 miles per hour what do you think?

>> it's amazing. the fact it moves, i'm trying to picture a lego gear. let's get robert frank to drive it he drove one get him on the story venus and serena williams will face off tonight in the third round of the u.s. open this is the earliest the superstar sisters will meet at a major tournament in 20 years let's find out what's coming up on "squawk box. joe kernen is in new york. you heard our conversation have you seen good movies lately i don't have the attention span. joe is getting ready we're watching video of the williams sisters okay should we expect joe >> you talking to me i'm here >> there he is >> i need a mike, i got one now. >> you got a working mike? that's always a win. >> you know the -- with tv,

there's something called makeup. i know you know about that >> are you kidding by the way, samantha -- >> you break the bank every morning. >> they save me. you are kidding? >> i know. it's so early. i'll be there tonight. i'm excited about that match you know who is coming on? brad gilbert he will talk about it. i'll talk to him height is very good in tennis. i've seen you play golf. i heard about it you're very tall i don't think it's good for golf your center of gravity is not in the right place. some guys are good you don't need to be tall. but for tennis i think it would be an advantage for you. do you play? >> not well. if you invite me, i'll hit the ball around. what's the 19th hole equivalent in tennis? i don't know game, set, match, cocktail if height was everything, jack sock, he's like 6'8", wouldn't he win everything?

>> isner >> he's like 6'10". >> and anderson is tall. venus is tall. it helps for serving i think it's a good way to go. >> leverage and speed. that's fine. >> will be a big match >> the make juup ladies, i'm actually 5'2", they make me tall every day. >> why don't they do anything with the ears? >> i know. >> they used to give me -- that was my problem when i was a kid, they said i looked like a car coming at them with the doors open i never got over that. brian, you know what i read this morning on one of the websites was that the gains for 2018 are in just because of yesterday. the gains are in we have to go out to 2019 to see further gains in the stock market isn't that a good sign we always hear that kind of

stuff. we'll talk markets it's a three-day weekend coming up and brad gilbert is coming on. i don't know how long the williams sister also play. >> they're amazing see you tuesday. still ahead, your morning rbi, it's on tencent

joining us is jeff kilbur. it's amazing all this talk every day, trade, tariffs, trade, fight, trump going after tech, the nasdaq all it did was rise 5% this month. one of the best months of the year for tech stocks why?

>> we got a chuckle a month ago that the nasdaq 100 has become a safe haven, but it's true. we're about 15% above the 2 200-day moving average but it's true. netflix is up over 90% amazon up over 70% when you see selloffs in asia, they're coming to the domestic market in the united states and buying tech. that does give me pause her at the end of august, but every time we hear a renewed trade conflict it attracts assets to the stock market u.s. treasuries, not so much the nasdaq 100, wow. >> some people are saying the gains are in the market is not telling us that, not yet. >> i think you may have to buckle your chin strap here. at the end of the day the nasdaq 100, that's where a lot of profits have been made in the event you have a pullback

in september we have to digest the fed. we have the renewed trade conflicts, and it seems president trump has a lot of wind in his sails. more confidence than usual this renegotiated nafta contract is putting winds in his sails in going over to europe, and also in china so i think that may be a cash machine for the nasdaq when profits come out, that's when people will take money out of the market. the nasdaq 100 is up over 20% year-to-date that's sensational a 10% pullback is still going to outperform the s&p 500 >> help us make some money a lot of viewers will be spending money on this long holiday weekend. help us make some of that back can we buy volatility and led it ride for a short trade >> you are seeing the vix futures elevated in the last 24 hours due to profit taking

we're seeing a lot of pain in the emerging markets, we have international exposure eem, you can look at the et etf ieng i don't see the dollar going straight up to 97. i think it will be range bound there's a lot of rhetoric out of president trump. look for a discount overseas i think the nasdaq 100, it's time for it to cool off. make sure your allocation there is booked or reallocated to that proper allocation you started at the beginning of the year. >> most important thing to watch next week will be what >> i think you have to watch the yield curve. i think the narrative in the ten-year note is stark difference to what is going on in the u.s. stock market when you see the ten-year at 2.85, keep an eye on treasuries. >> jeff, notre dame graduate,

all-around good guy, have a great weekend with the families. >> see you soon, pal >> thanks. as always, let's wrap it up with the morning rbi shares of tencent are crumbling again today. they fell another 5% in china. this is a different story. it comes because china's cracking down on video games but get this, they're citing a rise in eye strain an near sightedness by children. the ministry of education proposing limits on new games and steps to restrict the amount of time young people play them this is the latest challenge for tence tencent, one of the biggest companies in the world tencent losing 20 billion in market cap today alone it lost 160 billion from its peak in january. random but interesting

no doubt painful for many chinese investors. have a great labor day weekend we'll see you next week. hey, what are you guys doing here? we've been helping you prepare and invest for retirement since day one. why would we leave now? because i'm retired now. so? we're voya. we stay with you to and through retirement... with solutions to help provide income throughout. so you'll still be here to help me make smart choices? well, with your finances that is. we had nothing to do with that, uh, tie. or the suit. or the shirt. voya. helping you to and through retirement.

on the go and want to rent a movie? showtime. or buy the hottest shows. good morning our top story, this could be almost any day trade. president trump out with strong words for china and europe while trying to strike a deal with canada coca-cola buying a uk coffee chain for more than $5 billion and big night.

family affair. major match set for flushing meadows and arthur ashe as serena and venus williams face off. it's friday august 31, 2018. "squawk box" begins right now. ♪ live from new york where business never sleeps, this is "squawk box. good morning welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen our guest host is steve grasso last trading day of august what should we anticipate? >> the markets have been trending higher. trend is your friend how long have you heard that >> long time >> large cap tech seems to be in vogue again.

don't get clouded by the noise stay straight on your path >> stay straight, keep the path. let's look at the futures. yesterday we did see a pullback. for the month of august you're talking about big