it is 5:00 a.m. here at cnbc headquarters mixed messages president trump and steven mnuchin apparently not on the same page. all caught on camera california opening a new criminal probe into juul the wework's saga apparently just getting started the company's founder and ceo weighs in tech under fire from coast to coast and across the atlantic.

ramping up scrutiny. apple and facebook said to get the most attention today the consumer you we'll tell you why "worldwide exchange" begins right now. ♪ >> good morning, good afternoon, good evening and welcome from wherever in the world you may be watching all your big money stories straight ahead if you have not been paying attention to netflix stock, one of the faang's, wow, you should be doing fine until about mid-july, then a constant slide down netflix now going negative on the year wiping out its entire 45% gain

good call on the stock by need am who has been worried about netflix and said so on the show many times throughout the year netflix, a name to watch let's go to the macromarket. stock futures are higher once again. do you dow up 93 right now. the consumer confidence number at 10:00 a.m that number can and has moved markets. in the bond market, not moving benchmark 10-year yield 1.71% right now. seeing gains in europe and asia. nikkei gaining european markets kind of similar, we are seeing a mixed

market, mostly higher in europe. more green a rather unusual exchange between president trump and treasury secretary steven mnuchin caught on camera if you remember, news broke that china would tour farming sector in montana late yesterday, trump and mnuchin were asked about that cancel he jumped in and said the tour was canceled at the bee haft of the united states. something that seemingly caught president trump by surprise. >> that was at our request we didn't want there to be any confusion. they have started buying agriculture. they are going to reschedule that at a different time that was truly at our request. >> why was that our request?

>> we didn't want confusion around trading >> but i want them to buy farm products >> we they are committed to buying agriculture >> despite the mixed message by reuters that china has bought 600,000 tons of soybeans that exchange getting a lot of attention. there is some optimism around trade. that can help stocks going forward if something were to happen joining us now to discuss that, the international equity group welcome back near two almost ending year two on this trade fight, if you will as a strategist looking around the world on places to vest, how much optimism do you have some kind of a deal will get struck

>> brian, the important point is that the reason you have discussions is to get to the positive outcome there is an end point in sight, perhaps difficult gs more towards trade. it is not in anyone's interest i think that is the logic that will keep the show on the road >> do you think the markets are effectively pricing in a positive resolution? >> i think they've taken in a positive resolution that is likely they are suggesting a change you are seeing that both in the manufacturing pmis yesterday the pmis came out yesterday and

they were poor those are been accurate in the past those were also poor if you think about the capex survey those are weighing on the mind of cfos. we could see an inflation of that for the earnings of the second quarter what i would say, so far, you've seen serialdo downgrades. that means nominal gdp comes down and it is not working in their favor. there is a cloud in their earnings that has been clear from rhetoric the hope is that russian at will

break out on the trade front >> there is two ways to slow down no question a lot of the data here and there has slowed. you can slow all at once or slowly over the years. especially with the yield curve inverted you know you can slow down slowly over time >> that is true. we've talked about manufacturing surveys on the services side, things have been holding up. they are starting to get dragged down if we look at signs for employment the picture looks fairly robust. the fact that wages are low, real income is rising. we are going to get an important

indicator for that with numbers coming out >> over the last 18 months, you've seen this pressure. that is one of the reasons why markets feel fairly sang win about the future we do need good news to start breaking through you wouldn't want to see in 2020 those come under further pressure and that clouds the corporate earnings even more >> out in a couple of weeks. nike coming out tonight. we appreciate it, steven have a great day >> thank you to corporate news. the story the parent of every teenager is paying attention you to more trouble for juul labs federal authorities are taking a deeper look. >> more trouble indeed federal prosecutors in

california are conducting a probe stepping up legal scrutiny saying the focus of the investigation is unclear juul has yet to comment. the company has come under increasing fire and has been blamed for a surge in vaping by teenagers. looking into the marketing practices. you may recall earlier this month, the trump administration says it plans to ban most flavored e cigarettes. juul says it has never marketed to teenagers the product has been linked to eight deaths lawmakers in illinois, where they are considering a measure to ban the use inside public spaces in new jersey, we found these

juul ads have no intention walma walmart sound like they'll stop selling. when we come back, wework board members scrambling to solve the ceo crisis why facebook is set to face new pressure on capitol hill again today. later, more on these stock stories sure to get a lot of attention. thye, nsorping out its gai f e ara very busy hour when we return. no not everything, i mean you're still blatantly sucking up to me gary. brilliantly observed, sir. always three steps ahead. six steps ahead. sixteen. so many steps.

you done? a million steps ahead. servicenow. works for you.

>> the story that just keeps on giving reports that wework ceo has started talks about his possible role discussing possibly giving up his title of ceo. he has not stepped assign. saying neumann he is only facing pressure from three of the company's seven board members. joining us now from washington, elon, we have a lot

to discuss are you ready? >> i'm ready >> let's start with google a major decision outs of the european union tell us about it >> that's right. the highest court today ruled in favor of google. it found the right to be forgotten applies in europe and does not have apply this around the world. giving the right to privacy for people who live in the eu and the right to access. realizing the jurisdiction here is limited and eu laws cannot be applied around the world >> we've heard about this right to be forgotten. can you go into detail for our u.s. audience about what it is >> it gives users the right to request that google remove

certain results when people google their name. there is a lot of restrictions around this. gooulg has found since 2014, there have been 850,000 requests to remove search results spanning over 3 million urls in about 45% of cases, google approves those requests for removal. this is an important right that allows you to ensure you are not haunted by your past >> why was this case so important for big technology >> it would be really bad if google had lost. it would set a new precedent around the type of practices it would have to follow around the world. it was important there was a recognition that eu jurisdiction was limited.

we hear about the tech lash around the world, regulators should realize that they don't have power across international lines. they are setting laws that only apply within their state and country and there are different standards around the world >> are we going to see you running through the hallway asking facebook ceo or others very polite questions they seem not to hear. >> i always try to ask polite and pointed questions. the chief of competition will be testifying on antitrust, on competition. in this hearing, we'll be hearing about whether big tech companies are snufing out competitors by buying them up,

stealing ideas or discouraging them this is important for a company like facebook. we know the ftc is investigating and the purchase of whatsapp and instagram and part of their agenda >> always polite and on point and a pleasure to see you. still on deck, why all of you, the american consumer, may hold the key for the stock market's next move higher and why apple is gunning for one of tim cook's biggest hardware success stories. that is trending and it is coming up. cut. liberty mutual customizes your car insurance so you only pay for what you need. cut. liberty m...

am i allowed to riff? what if i come out of the water? liberty biberty... cut. we'll dub it. liberty mutual customizes your car insurance so you only pay for what you need. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ you should be mad at leaf blowers. [beep] you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. but you're not mad, because you have e*trade which isn't complicated. their tools make trading quicker and simpler. so you can take on the markets with confidence. don't get mad. get e*trade and start trading today. woman: what gives me confidence about investment decisions? rigorous fundamental research. with portfolio managers focused on the long term. who look beyond the spreadsheets to understand companies, from breakroom to boardroom.

who know the only way to get a 360 view is to go around the world to get it. can i rely on deep research to help make quality investment decisions? with capital group, i can. talk to your advisor or consultant for investment risks and information. talk to your advisor or consultant i had a few good tricks to help hide my bladder leak pad. like the old "tunic tug". but always discreet is less bulky. and it really protects. 'cause it turns liquid to gel. so i have nothing to hide. always discreet. for farmers here, this is our life's work. but when a recall happens, perfectly good food goes to waste. now, we've got away around that. looks good. we're on target. blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf.

it's used by some of the biggest retailers everywhere. a nice wedge. so more food ends up on your table, is that daddy's lettuce? yeah. and less food goes to waste. ♪ ♪ >> welcome back. in global ipu. if it doesn't get well, it is an ipu. otherwise, an ipo. budweiser pricing the long awaited ipo at $27 hong kong dollars per share. about a month after they postponed what would have been a larger share let's get a check on some of the big stocks you need to be

watching the shares of netflix they've given up all 2019 gains. falling for the first time in three years. the high flying member of the faang stocks has made investors a lot of money the head of disney's theme park division is stepping down after 15 years in charge of disneyland, world an paris lockheed martin has sustained $4 billion in nasa moon

expeditions. another pay to play scandal and president trump gearing up for his united nations address what can the world eecxpt from the president. we'll tell you more when "worldwide exchange" returns she said, get the one inspired by dentists, with a round brush head. go pro with oral-b. oral-b's gentle rounded brush head removes more plaque along the gum line. for cleaner teeth and healthier gums. and unlike sonicare, oral-b is the first electric toothbrush brand accepted by the ada for its effectiveness and safety. what an amazing clean! i'll only use an oral-b! oral-b. brush like a pro.

>> getting breaking stock news let's start off with disney. wells fargo calling it their top

pick in media. they have a 30% upside on dis calling disney a unique global brand leader and says their studio maybe doesn't get enough attention and is the biggest and best in the world especially with the addition of 20th century fox. jefferies with a buy rating on apple. 18% upside their target the third highest on the street. calling their estimates too conservative around 5g sthe note that price per product goes higher. can you believe that pricing power? adding that many iphones are simply aging out and the street

is underestimating the upgrade cycle that will be coming. so bullish on disney, apple and more coming up on streaming media netflix investors are in trouble. what does that mean for the streaming space. why we are watching some of the consumer names you know as many stocks inching towards or already at record highs. a list of names and how high they are relative to where they used to be interesting, i promise it is coming up right after this

take prilosec otc and take control of heartburn. so you don't have to stash antacids here...

here... or, here. kick your antacid habit with prilosec otc. one pill a day, 24 hours, zero heartburn. they have businesses to grow customers to care for lives to get home to they use stamps.com print discounted postage for any letter any package any time right from your computer all the amazing services of the post office only cheaper get our special tv offer a 4-week trial plus postage and a digital scale go to stamps.com/tv and never go to the post office again! the amount of student loan debt i have i'm embarrassed to even say i felt like i was going to spend my whole adult life paying this off thanks to sofi, i can see the light at the end of the tunnel as of 12pm today, i am debt free ♪ not owing anyone anything is the best feeling in the world,

i cannot stop smiling about it ♪ the american consumer. apparently coming to the rescue of the stock market. why the average american shopper could be what saves or sends the tech under fire. some of the biggest names today as part of a broader antitrust probe. speaking of the internet do you rememb do you remember compu serve. we do. see what they got right. you are watching "worldwide exchange" here on cnbc ♪

why are we playing that song that song is almost 40 years old. that song and compuserve coming up at the end of the show. that is a deep tease to make sure you don't go anywhere it is 5:30, i'm brian sullivan thank you for joining us to frances rivera in new york who has arguably at some point in her life danced to that song. >> i'll have to agree with you president trump will address the un this morning. the president is expected to discuss major issues like tensions with eiran and china trade war. the families that lost loved ones in two crashes are now eligible to receive money from

the company that will come from a $50 million fund up by boeing. both crashes have been linked to software that was supposed to keep the planes from stalling but the company says several factors were involved. the death toll from triple e has been released. no details on their age or where they are from. they warn this is the worst out break of triple e since the 1950s claiming the lives of eight people in the united states >> scarey stuff there. back to the markets. things are being looing good there. we are seeing the dow futures up two initiations on disney and apple. both very bullish.

with jumps on those two from wells fargo and jefferies. technology has been a big part of the market story. lately, it has been more of the consumer that led us high. pulled out by our great and powerful data. dollar tree, p&g and walmart are trading at all-time highs. trading back to the high from 1972 and p&g trading at an all-time high going all the way back to 1891 good times in cincinnati joining us now to talk the markets is mark avalon do you, mark, own any of those

three stocks or a basket of consumer stocks? >> i don't own those individual names. what you are talking about with the strength of consumers is estima evident. they are running a top-line program. if you look at higher wages and wage growth over the here, you look at low unemployment oil prices are in a sweet spot for those who drive to work, it puts extra money in their pocket from home refis and lower cost to consumer debt they are going to save money consumer stocks are winning in that and being the beneficiary of it. >> there was a great story on line

it talks about how home equity has never been higher across the united states. people are not taking that out to buy solid gold yachts and hospitals like in 2006, 2007 maybe the consumer mark has gotten smaller >> that is an interesting point, consumer debts lower than it was in 2008. they've absolutely learned the lesson of overleveraging and overfinancing. if you want to make an extension on your home, that's what i was referencing. the consumer is not overlevered. it is in the corporate rather than the consumer sector >> everything was going so nice. then you had to bring up, mark,

probably the most terrifying to the global markets global corporate debt probably is sort of the anvil or anchor around the ankle of the market's longer term. >> ther're almost enticed to lock in lower rates while they can and expand with this low cost of debt there are more problems around the world. the european banking crisis is not looking any better there are pockets that do concern us there are some reasons to be concerned in this market i think that's why you see glob al banks continue. i don't think they'll lower the next time-out but they'll open with that. >> let's focus on the good news. read the story on cnbc.com

thank you. speaking of, we are just dc focused today. facebook, google and other big tech companies are coming under fire today into the company's acquisition practices up fromsaying that washington is the new wall street >> focus on this what can we expect today >> expecting lawmakers to probe companies that they might have exploited companies. in the past few weeks, focusing on could your dominance have

harmed consumers >> it is kind of hard to prove harm most of those apps are free. they are not dropping their facebook or instagram accounts here >> okay. when you talk to your deep sources, do they use the m world, monopoly when it comes t google and facebook. >> sometimes elizabeth warren does use that word >> using monopoly to push out other competitors. like microsoft did with explorer, the subpar serve engine >> understanding were these companies using their dominance

to out play smaller serves members in the house have been asking small tech companies, do you have dirt? >> isn't that funny that snap chat, that's it. the others are all owned by facebook >> there are a few others. tic toc is leveraged >> that is owned by the chinese government >> yes that's an app they'll point to saying, we let tic toc spend big on our platform. >> the american government is probably more focused on american companies moving on. wework, adam neumann told

friends he has the support of most of the board, he thinks discussing new options the board might be thinking, do we have someone come in, just to level out the playing field. to bring in someone who is experienced and keep this company measured throughout. >> he got forced out and became a billionaire. would you be forced out for a billion. if you own netflix, you won't like this story. netflix is now plot to negative.

our parent company coming out. what is the world on netflix >> it is an international problem for netflix. their growth opportunity is overseas their app growth overseas is slowing. they are competing with sharp elbows with amazon and other companies. >> laura mark am on our show has been worried about this. this is all they've got. >> all they've got is the ability to raise prices. >> a lot of people sara blame that on hbo go and "game of

thrones. a lot of people, they'll cancel and resubscribe every month. >> yes it is like okay i'll cancel netflix and watch "game of thrones. and when "stranger things" comes back, i'll return. >> the churn is the biggest issue. i had an idea for next flichl. why not try to go after the nfl package? they want to grow interer national it would cost them billions. but if you want to lock people in >> there is a reason

they don't know live they only know on demand netflix, they'll go after documentaries but they don't even do news either. >> i have been told live tv news early morning is the hardest thing to do and host >> all those hosts have the biggest raises right >> and they are the cream dela creme. >> a well-known ncaa basketball team reportedly facing pay to play allegations what it might mean for college sports in general. remember this, 40 years ago today, it advertised the first on line service to american consumers. they actually got a lot ghrit.

they actually got a lot ghrit. we'll tell you is coming up great. thank you. thank you, sir. lunch next week? terrific. say hi to the team. will do. call my office, i will. -sounds good. alrighty. servicenow. works for you.

great riches will find you when liberty mutual customizes your car insurance, so you only pay for what you need. wow. thanks, zoltar. how can i ever repay you? maybe you could free zoltar? thanks, lady. taxi! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

>> welcome back. dow futures are up now it is time for this morning's top trending stories >> it looks like apple's air pods may have a new competitor amazon is expected to debut alexa powered ear buds are expected to be priced below $100 making them cheaper than wireless head phones and beats >> do you use air pods and beats. >> i do. both of them >> do you notice sometimes they

drop off >> drop out of my ear. >> thank you appreciate it. university of kansas was hit with several violations. some tied to pay for play allegations. an adidas consultant organized payment to two player families the head coach is facing allegations. current roster of players may not see immediate impacts. >> that is tough it is not kansas city. it is university of kansas the entire city of kansas city this is tough.

these kids, there is billions of dollars on the line. they are young i would imagine it is very easy to fall in when people say, i'm going to take care of this and your family. it is tough. >> they do make a lot of money for the schools too. they are cough >> in california, they are moving towards the paid athletes it is gaining steam. in sports, i don't need to tell you this if you are a red skins fan. the bears faced the redskins on a losing streak, posting the third worst jack ant baerz up 28 in the second

quarter. skins tried make it a game in the second half. final score, bears, 31 skins 15 if you are in a pick em league, the redskins did not pick. >> can you imagine controlling a computer by thinking of that facebook spending millions to buy a startup company doing just that 3.6 million is how many high school and middle school students have used e cigarettes in the past 30 days. more coming up with more than 85 years of experience over multiple market cycles. with portfolio managers who are encouraged to do what's right over what's popular. focused on helping me achieve my investors' unique goals.

can i find an investment firm that gets long term the way i do? with capital group, i can. talk to your advisor or consultant for investment risks and information.

>> welcome back. breaking news out of the uk. the supreme court announcing that boris johnson's rudecisiont suspend parliament was ruled by the supreme court as unlawful. parliament was suspended and due to return on october 14. brexit still owe fushlly set to take place on october 31 we'll see if and how this ruling from the supreme court and the uk could change that time for your executive recap. >> federal prosecutors in california conducting a criminal probe into juul.

facebook is buying brain computing startup control labs letting users control computers using their brains between $500 million and $1 billion. lockheed martin wins $4.6 billion contract with nasa moon contract. >> trade dominates the conversation joining us now from new york, eamon. >> reporter: we don't know what the president will say we do know that the issue of the

trade with china is front and center on a lot of minds we saw yesterday with the treasury secretary in an unrelated by lateral meeting, they got into a discussion of whether the united states should hold off on a series of meetings skpe expected to have in the midwest. that seemed to be news to the president. he asked why >> that was at our request we delayed that we didn't want there to be any confusion. they are going to reschedule that the a different time. that was truly our request >> why was that our request. just out of curiosity? >> we didn't want confusion. >> we want them to buy farm products >> we want them to and they

competed to buy agriculture. >> requesting that the u.s. side suggested the chinese back off on the series. that caught the market's attention when they initially canceled that trip today, the president will meet with other leaders a lot to watch for including boris johnson on the agenda today in terms of meetings for the president. >> the president did not look amused by that surprise. eamon, how about politics at home as he makes the rounds at the united nations today >> difficult to tell where this will go. a he's been talking about it and tweeting about it. we got new reporting overnight both reporting that the pr

president asked his staff to freeze $391 million in aid before asking ukraine for biden probe. asking them to investigate the president saying what he did was entirely appropriate democrats planning on a meeting to zuls impeachment of the president. eamon, thank you >> you bet >> happy 40th birthday to going on line. compu serve launched service mostly sold in radio shack stores most popular feature, chat

rooms. wildly popular and then american on line started. it still exists today as a part of yahoo's oath. happy 40th, compuserve joining us today, jeff, did you have a compuserve account? >> i did if you recall the trs 80 known as the trash 80. >> it was hot and it fizzled out. technology has been so hot, do you think that will roll out >> i do not. our models on the show call the

trading top terming the low trading out to the market high our models show those could be a problem on a trading basis i think it has years left to run. >> i am not real high on the utilities or the consumer staples they've had to put money to work in fairly defensive names like utilities and staples they look expensive here >> tradeling at all-time highs you think that is done >> i don't know if it is done.

you can't get it in fixed income i think the biggest percent is the 8% tax yield >>er month of a toll road than producer, what makes you more optimistic >> i think you are right they are toll takers they have long-term contracts with people like exxon and ch chevron. they have a tax deferred benefit. for people in my generation desperately seeking income

>> those are a concern that has been hot. always a pleasure to have you on "worldwide exchange. thank you. >> my pleasure dow future up. breaking news for the uk "squawk box" will pick up the coverage of the markets. i'll see you at noon today on the half time report >> president trump speaking at the u.n. today what to skpoekt and how markets could react juul facing a new criminal probe now. wework's ceo weighing his future role at the company he founded it is tuesday, september 24, 2019 "squawk box" begins right now.

>> announcer: live from new york where business never sleeps, this is "squawk box. >> here on cnbc from times square from the evolve summit in chicago today. that willstart coming up in th 8:00 hour eastern time you don't want to miss the beginning of those interviews. our guest host here is jason, we'll be trying to make sense of what is going on so much spac