meter butterfly and 4x1 medley relay. only three other male swimmers have done that what's next for one of the biggest names in sports? i'll ask him when he joins us on the news tomorrow right here if you're just tuning in for track and field or beach volleyball, we're glad to have you. we hope you'll be with us tomorrow night for "the news." week nights at 7:00 eastern. right now, let the games begin it is 5:00 a.m. at cnbc headquarters top five at 5:00 masks and boosters all having investors on edge senate democrats threatening the summer recess as the infrastructure bill hangs in the balance. a big gaming crackdown beijing taking another swing at the red hot sector bringing with the number of stocks down with it no love for bitcoin.

data showing more investors are taking cash out of the crypto. the first official crypto etf. round two against amazon and the unionization fight in alabama. well have more on "worldwide exchange." good morning, good afternoon or good evening. welcome from where every in the world you may be watching. i'm brian sullivan thank you for joining us on this tuesday. there is so much to do as always, we have a great guest lineup for you ahead of it, here is how things look despite the covid headlines, stocks are higher after the late-day selloff yesterday that erased the major gains for the

averages major averages got wiped out dow futures up 135 nasdaq futures up .20% before that, the dow crossed another all-time high before ending monday in the red a new high, just ended lower. treasuries keep getting a bid, but yields are still under 1.2% wow. oil coming off its best day in a month. up above $71 a barrel one oil stock she loves right now and we will names names in bit. let's keep the world in "worldwide exchange" because we have a big day shaping up in the uk with the number of stocks on the move there let's get that with joumanna bercetche standing by in london. good morning, joumanna

>> good morning, brian another positive day for european equities. trading in positive territory. stoxx 600 at record highs. we are getting record highs in europe as well right now, we had about 60% of companies report beats for the quarter. it has been solid as we spoke about yesterday. you can see ftse 100 up .30% cac and france up .80% germany up 10 basis points i want to bring up three of the stocks this morning. starting with energy i know that is close to your heart, brian bp shares up 3.5% points they will increase dividend by 4% and scale up buybacks after a profit of $2.8 billion in the second quarter another stock we are looking at stalantis raised target after

the beat on the first half earnings now expects a 2021operating profit margin on 10% another positive price action in that stock finally to the banking space raised died guidance after the i recover to 1.4 billion euro from a loss of 1.3 billion due to the impact of bad loan provisions. this is one of the best performing stocks and a leader in the cac and french. brian, back to you >> a big move for one of the biggest french banks you so soc gen joumanna bercetche, thank you. the hits keep on coming out of china this time it is the country's state media lashing out at the video game companies

likening it to addictive drug for kids stocks at the center of the crackdown like tencent and netease and more eunice yoon has more from beijing. eunice, what is the government saying and doing around video games? >> reporter: so far, the government hasn't saidanything about this particular situation. a journal linked to the state news agency described online gaming in very heated language as opium of the mind for children it singled out tencent for the popular title honor of kings tencent derives one-third of the revenue from gaming. the fact there is stricter control of the gaming industry is enough to slam the stock and raise speculation this industry and the company could be another

target the government has targeted the gaming in the past, but yjust this year, president xi described it as a mental health concern for children in the same speech, he criticized after school tutoring and called it a social program it looks like beijing is more sensitive today about this situation. we saw that report just hours later was deleted. brian, i think tencent is not taking chances they announced new curbs for minors to get access to that particular flagship game >> wow really they are calling it out and naming names and there hasn't been any kind of a b barricade or blockade or stopping games they are still out there and with a little government warning

nudge? >> reporter: yeah. that government warning nudge has been coming to the industry for quite some time. in 2008, it was actually diagnosed as a clinical disorder if you had internet addiction. so this battle between the industry and government has been a long time coming >> eunice yoon in beijing. we are watching big names there. a lot names in big etfs here big names in the k-web and thing like that. eunice yoon, thank you very much let's get back down to the ma markets, your money and new comments from federal reserve governor christopher wahler. when it comes to tapering and reducing bond buying, the central bank could roll the program back as early as october if employment gains hold

>> if the jobs report comes in with the next two reports, in my view with tapering, we should go early and fast in order to make sure we're in position to raise rates in 2022 if we have to, i'm not saying we would. if we wanted, we need policy space by the end of the year >> all right joining us with the reaction to that and talk about the markets and maybe a little bit about health care is ally investment chief and cnbc contributor lindsey bell lindsey, is it all about the taper and timing of the taper and potential tantrum? i cannot do any more literation? >> i think, brian, the biggest risk is fed policy of course, investors had anxiety about this all year long that will continue until we get more clarity by the way, we have jackson hole summit this month.

i think you will see volatility and market moves around that we can get a little more clarity around tapering situation is going to be. right now, i think the markets really position for the tapering not to come until early next year of course, the thought process is they will signal that going into the end of the year i think the conversation we heard yesterday that you just recapped shocked markets you did which is why you saw the turn down today we're back in the green so far. >> yeah, this is august. lindsey, that's the point. little headlines can have big hits because volumes are down, liquidity is down, investor tension is down. this is what happens when people say watch out about august things can get more volatile than normal. >> absolutely. august is the third worst performing month in the s&p 500

on historical basis. so this is par for the course. you usually see increased levels of volatility. people going on vacation you imagine the demand to go out and get on vacation and get away from the computer screen and stock market is popular. the demand to get away is higher that means lower volumes and bigger reactions to any sort of news especially negative news that is something we will watch for the month of august. it is also part of the playbook for the summer months. you don't see the market do much over the summer. we had a great july or decent july august could be more choppy. september is the worst performing month of the year i think net-net at the end of the third quarter, we could just be flat for the year we have things to look forward to in the fourth quarter once we get past the unce uncertainty. the bond market, brian, to bring us back to where we started, is spooking investors because we

have seen a sharp down draft in bond yields. 24 basis points since march of 2020 the magnitude of that move can be shocking to investors back in march of this year, we were at 1.74 on the 10-year. the question is is growth slowing or inflation rising? it is a push and pull between the two. >> quickly, lindsey, why do you see value in the big name pharmaceutical or health care stocks >> i think the health care sector in general has shifted quite a bit. a lot of investors haven't realized it is growth oriented with the biotech it is definitely expanded into the space. pharmaceutical is no longer the

majority of the sector i think it has more opportunity to see earnings growth improve over time. expectations are weak. you see valuations at 17.8 times below that of the index. that is one area we have been touting all summer >> lindsey bell kick off the show on tuesday. have a great day thank you. when we come back, a big week shaping up for big solar and your mystery chart of the morning revealed new headings for retailers and back-to-school sales former hudson's bay jerry storch is here to weigh in. and crypto and wall street's first bitcoin etf. ahead of that, bitcoin is down ethereum is down stock futures are up we're back right after this.

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welcome back time for the big money movers of the morning. this time with a bonus four stock stories of the morning don't say we haven't done anything for you lately. a bonus fourth stock good morning first up, translate bio. sanofi in a deal to buy translate. the deal will accelerate the

deal for mrna vaccines and seasonal flu or other infectious diseases on. yesterday's close up .53%. and the stock number two take-two mod indicating from pan democrat he pandemic levels as people go back to school and work. and solaredge tech shares are jumping in extended trading. still down 10% this year and stock number four. simon property group get this the massive mall owner says sales at mall s and outlet centers bounced back to pre-pandemic levels in june and up 80% from a year ago the lesson never bet against the american

shopper. a perfect segue into the next guest let's talk back-to-school shopping demand expected to be off the charts national retail federation projecting spending to reach an all-time high of $37 billion back-to-college spending expected to hit a record $71 billion. let's talk to jerry storch jerry, great to have you back on first off, i'm not an epidemiologist we have seen cases on the rise do you think we will have a back-to-school shopping season >> before the last cdc announcement, they thought it would be the best back-to-school season i think it will be double digits kids are going back to school.

it is important kids go back to school the risks are outweighed by the benefits the close from two years ago don't fit. meanwhile, the parents have money. there is additional money from the federal government the parents have to go back to work you have back-to-work and back-to-school app apparel will be strong >> it may not just be the volumes, jerry that includes the costs. if you walk through the malls, you look at prices they are up. retailers had too much inventory and constantly had to discount to move off the shelf. the inventory has cleared out. they got smarter massive supply chain bottlenecks are keeping inventory below levels and let's not forget and

i'm trying to be delicate here a lot of people's body shapes have changed in the last year. >> look, it is a secret of retail retailers do great in an inflationary environment as long as it is not so extreme that people run out of money moderate inflation is great for retailers. they can raise prices faster than the costs go up rents. simon is trying to fill the malls right now. rent is not going up as fast as retailers can raise prices same with wages. they are going up, but not as fast as prices retailers do well. as you point out, it will manifest with higher prices than anything else. retailers will be profitable >> you heard that stat about simon property groups. i made an anecdote a month ago on the show where i tried to go shopping at the mall in new

jersey i couldn't find a spot i drove away i'm out of here. i could have found a spot a mil% a away, but i was lazy are you shocked the return to stores or is this the consumer in action with a lot of money in their pockets according to stats. >> you said if someone tries to bet against the american consumer, i'll take that trade every time what is remarkable, if you go back a year ago, we were in the middle of the pandemic and sales were well. now people are out in droves this is about the busiest it has been in a long time. the two-year stack sales up double digit. apparel is laglaggard. that will change dollar general and target and costco amazon was up against the pandemic last year and they

still grew double digits they will keep doing great department stores are the ones to watch department stores and apparel stores the best p cchance to reverse t decades long drought they need to change their business models farther and faster than department stores from what i have seen so far watch out. they will look great for a while and brag about it. we fixed it. no one i know says i can't wait to go shopping in the department store. >> we'll find out. i feel like it is the m&mwrapper one shot to get it right jerry, thank you see you again. take care. >> pleasure. all right. still on deck, with cleanliness still on everyone's minds,

amazon is taking personal hygiene to the next level. we'll tell you what amazon is doing with soap. yes, soap. that's our trending story. soap dow futures up 132 i'm going gtoo wash my hands. i'll be back right after this. at cdw, we get whether you're at home,

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two washington, d.c. police officers who responded at the riot died of suicide the officer was found dead at his home on thursday and the other found dead july 10th that brings four officers who have taken their lives since the insurrection. president biden is urging governmentis to adopt policies o avoid evictions. this after congress failed to extend the federal moratorium that was enacted during the pandemic millions of americans are at risk of being evicted. finally, saimone biles is back on the beam the four-time olympic gold medalist competed in the balance beam final along teammate suni lee. right now, she is in second place with the score of 14.00. biles return comes after

withdrawing from events to focus on her mental health brian, it is an accomplishment to get her on the beam and compete. >> certainly is. best to her as well. the world is watching. also thinking about the families of those fallen officers ph phillip, thank you dangerous tiktok trend amazon smart soap and jeopardy!'s guest host let's bring in kristina partsinevelos with the plate evident. >> i think you went to go wash your hands, so let's start with amazon branded smart soap dispenser to make sure you wash your hands correctly. the dispenser has a light to countdown 20 seconds in case you can't do it is recommended by the cdc for the minimum for hand washing. amazon is not the first one to try it

apple can detect when you start washing your hands and start a countdown timer. a new tiktok trend making the rounds and it is not a funny dance or lips ync insync video >> it is frozen honey. that looks cool. >> i don't know what to say. teens are freezingwater bottle full of honey and eating it on camera frozen honey has been viewed 600 million times. the challenge, more than 80 million times. it is unclear where the trend originated medical experts say honey is great in small amounts and tea, but eating 16 ounce water bottle may lead to a sugar overload and

lead to upset stomachs and adverse effects. i guess it is not tide pods. and david faber graced "jeopardy!" to rave reviews on twitter. some not knowing who david is, but all saying he is one of the best guest hosts yet and did not suffer from the first day jitters. brian. honey, soap, david faber >> awesome for david jealous of that. he was a champion on "celebrity jeopardy!. >> yeah. >> what is this tiktok stuff it seems like you can choke. if you are taking giant bites of a near solid product, don't do that what in the world is happening >> i don't know. that's why my reaction to going through story -- the positive.

it is not tide pods. >> don't even show it. >> i was watching that video i agree. >> it's what's next. it's like how many sticks of bubble gum can you put in your mouth challenge? >> that's better >> wbetter than what kristina partsinevelos, thank you. ahead, decision day for the s.e.c. not college football in texas. not america's first bitcoin etf. dow futures down 136 we're back after that. sofi is a one-stop shop for your finances designed to work better together. save, spend, borrow, invest, and earn cash back rewards, all in one app. that's how you get your money right with sofi. i'm 53, but in my mind i'm still 35. that's why i take oste bi-flex to keep me moving the way i was made to, it nourishes and strengthens my joints for the long term.

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investors once again shaking off covid concerns stock futures are higher as corporate earnings is doing something it may never have done before you have to hear it to believe it covid case level hitting higher numbers since last summer pi big news in the vaccination race. and democrats look to fast track the measure days before lawmakers are set to leave town. will in-fighting in the house scuttle the deal it is tuesday, august 3rd. this is "worldwide exchange.

welcome or welcome back. good tuesday morning thanks for being with us i'm brian sullivan let's get to it. here is how your money and investments look halfway through the 5:00 a.m. hour futures, like yesterday, solidly in the green we were up this much yesterday and late-day sell off and erasing the gains for the averages we hit a high on the dow before that occurred. dow futures and nasdaq futures up .20%. markets again in the green we'll get more on that in a bit. now to the latest on continued concerns surrounding the pandemic the cdc revealing the seven-day average of covid cases has hit a new level since the peak of last summer 73,000 on friday that is higher than the peak of last summer. again, context is key. there are two big things to keep in mind. remember, testing last year was still expensive and scarce

it is hard to know the exact comparisons. while that case number, while elevated and on the rise, is still 65% below the winter peak. over the winter, we averaged over 200,000 cases a day for months again, not minimizing it, but not the highest in a year. it is the highest since last summer which was a very different time all right, among the new cases republican senator lindsey graham tested positive for covid despite being sflavaccinated he started to feel sick after attending a bipartisan gathering at joe manchin's home. seven san francisco bay area counties reinstated indoor mask requirements in new york city and new jersey, officials are strongly recommends, but not requiring people to wear masks indoors facebook taking similar steps.

beginning today, all of the employees in the american offices will be required to wear a mask there is some good news in all of this. vaccinations have popped recently they are on the uptrend. with that recent uptick, a full 70% of american adults have had at least one shot of the vaccine. 80% of the elderly, most vulnerable group, have been fully vaccinated good news in the headlines. let's get to the other top stories of the morning and more on the potential $1 trillion infrastructure and spending bill kristina partsinevelos is back with those headlines kristina >> reporter: chuck schumer is looking to fast track consideration of the byipartisa infrastructure deal. progra promising to work together to put the deal together this week.

the senate overwhelmingly approved two amendments tied to the legislation late yesterday evening. schumer says he wants voting wrapped up before lawmakers leave for august recess next week amazon warehouse workers in alabama may get another chance to vote on whether to unionize that union looked to represent the workers say a federal labor official said the tactics of the company in april tainted the results. another election should take place. amazon is expected to challenge the claim and recommendation. the crypto sector seeing outflows it hit $19.5 million on friday the bulk from bitcoin and related products coinshares adds other crypto assets like ripple and polka dot had minor shares during that period brian.

>> kristina, thank you very much. as money flowing out of many of the crypto, today is decision day with the first official etf. the proposed bit cocoin trust gary gensler says he has no time to table for an etf yesterday. yet he spent three years, but not neutral of investorrproper joining us is noelle from coin desk sports betting is legal. are you handicapping the odds this gets done >> good morning, brian one thing we are noticing in the crypto industry is the price

uncertainty is the regulatory noise. it has been increasing the last couple of years. it seems to have kicked off with volume gary gensler is speaking today and it is interesting to see what he says he is addressing cryptocurrency and national security. he said as you implied, brian, he is not against the idea of etf, but wants to protect the investors. it is hard to do that until there is regulatory clarity around bitcoin and especially around the infrastructure. >> this is not a small decision, is it, noelle? once you approve a product like this, this is wall street. there will be 50 more products like that within a year. you will never put the genie back into the bottle maybe that is a good thing the point is once you do that, you are setting off a wave they have to take their time to make sure they get it right

doright, do they not >> that is right we have seen the success of etf in canada. the longer the u.s. takes to approve, the more it will see outflow of funsdds or investors getting involved or less secure ways to protect inveinvestors, bitcon etf is the best way to do so better to have it and regulate it that the s.e.c. can monitor and the outflows, they are limited to a very small set of listed products in europe. bitcoin and other facets are leading, but not leading the industry they are finding other ways. >> two years ago, i did a f fireside chat with someone in

favor of the etf the odds are not zero. if we get the surprise strick f victory for the etf, does that mean prices sky rocket >> i think so, brian we will one day have a bitcoin etf. timing is the issue. it will encourage investors. it is not just the retail investors that will be driving it institutions have been waiting on the sidelines >> noelle, a please tourure to you on onthe show >> thank you, brian. you're welcome coming up. another big deal uphill battle many black women face in getting equal pay. what can be done to help close that gap we have a cnbc special report

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welcome back today is black women's equal pay day. it marks the extra 214 days that black women must work to catch up with white and non-hispanic men normally make.

we have sharon epperson with more on this story good morning, sharon >> brian, black women face a pay gap. including essential jobs in the pandemic on average, black women are paid 63 cents for every $1 for every non-hispanic white man this amounts to over $2,000 a month. more than $24,000 a year nearly $1 million over the course of a 40--year career for a full-time working black woman versus white man jasmine tucker is the director of research. >> i looked at this in a lot of different ways education, age, job. it doesn't go away it gets bigger it gets smaller. the wage gap is there. a wage gap in 94% of

occupations. >> even in high paid occupations in the same profession, de despr disparity persists that gap can result in millions of dollars of lost wages in a black female physicians' lifetime student loan debt for single black women are the issues that exacerbate the wealth gap. what is the best way to close the divide many believe unless more black women are in top leadership roles, it will continue. brian. >> let's talk more about that. increasing the number of black female leaders is key.

rise up the rangks, you make mor money. what else can be done? >> since black and latina women are in low paid jobs, raising the minimum wage would help. offer worker protections would help, too. we report how they are working to pay back student loan debt. tax-free contributions to employee student debt through 2025 that can help many employees, including black women, among the hardest hit by student loan debt >> okay. let's talk about child care. this is a big deal it is not hard to do the basic math if you make under x-dollars a year, after taxes and child care, you bring home zero. i'm working to bring home zero dollars because the money is going to day care. by the way, my kid is in day

care all day long. what about subsidizing child care what about going to work and having a safe place for my kid >> that is huge. single mothers bring in 54 cents for every dollar earned by married men. a recent study found if high quality affordable child care were universally available, the result is a net increase of income of $100,000 for the average black mother over her lifetime >> sharon, you know our area i think i did the math years ago. my wife and i decided if you make under $40,000, you are breaking even or losing money with child care costs. that's a huge deal. >> child care is a huge deal

brian, another factor is the pay discrimination based on salary history. if you are in a job where you are underpaid or less tp than yr peer and you go to the next job, it is a never ending cycle doing away with salary history or what the worker should have been paid in the previous job is key to closing that gap as well. >> years ago, i was at general mills in minneapolis they had awesome child care on-site. i thought why don't more companies do this? have the child care there so the working moms or dads can go down and see their kids and also take them to and from work. it seemed genius more companies should do it. sharon epperson, have a great day. >> you, too, brian thank you. you're very welcome. close the gap. corporate america, step it up.

coming up, your morning rbi and this blockbuster season is more blockbusterier, is that a word, more than others. if you haven't done so, follow us on the podcast platforms. we're back after this.

time for the morning rbi maybe one reason why stocks continue to run hot is corporate earnings have been off the charts hot that is not tv hyperbole it kind of is. here is why we say that. according to jpmorgan chase, 88% of s&p 500 companies have beaten estimates. way above average going back more than a decade it is not just the number beating, but the number they are

beating by look at the chart. deutsche bank noting 16% above the consensus forecast 15-year average is a 5% beat earnings are crushing it i know, i know, many of you are thinking that's only because the analysts botched the estimates not really most estimates have been raised substantially over the quarter these beats are already increased numbers. bottom line is this is one of if not the most surprising corporate earnings environments we have ever seen and may justify higher stock prices. investors can stomach higher valuations random, but interesting. let's dive into this with our friend jenny harrington at gilman hill. asset manager.

is that tv hyperbole >> maybe a little. i think the thing is you are right. i don't think the analysts botched estimates. at the same time, we are coming off the period with no clarity in a normal time, pre-pandemic times, and post-pandemic times, you can say 2016 was this. 2017 was that. you have solid basis to estimate that is not the case we are estimateing off right no is a disruptive something from last year. i get it that is why we're not seeing i crazy upside off earnings. who knows what they would be the expectations are to get back to normal. not for rah-rah growth and repeat of the crazy returns we were able to have coming off this time last year.

>> well, in part, because we don't know the visibility on the economy. we hear a lot about the covid numbers. i want to make it clear, the majority are skewed by louisiana, arkansas and florida. look at the states mask mandates are coming back. a lot of confusion if there will be new shutdowns in the fall it is hard to model. >> it is super hard to model although, it is easier to model this year than last year it is interesting listening to the earnings calls two thirds of my portfolio calls have reported. everything is back to normal it is hard to model, but nothing like hard to model last year what you are seeing is you are seeing companies give realistic estimates for the next year. by the way, here is the fun one. apple. apple had huge earnings. actually their future growth is

in the 3% range next year and 5% the following year who knows if that comes to pass? those are reasonable growth expectations going forward that is what we are seeing it is hard, brian. it is nothing like last year it is a return to normal in the tone of the conference calls with corporations and clients. >> nobody thinks you can shutdown let's go into a couple of names. on friday, i hope you saw it, chevron's headquarters in san ramon, california. the interview is 22 minutes in total. a name you like. chevron. they reinstituted a buyback. free cash flow off the charts. >> right that's another one where you think about where we stood last year $60 oil to $26 to negative oil

prices and a rally to this year. from $40 oil to $50 to $60 to $70. we are hovering in the $73 range. chevron is able to predict and reined in cash backs they can pay that back to shareholders in a meaningful way. that is a perfect example. the earnings call can be mentmen meaningful the way it was. it is trading at 14 times the earnings and 5.3% yield. this is a company that i'm very comfortable sitting tight in >> and, by the way, gasoline demand, right now, off the charts it will be the year of the traffic jam. i drove from vegas to san francisco in an electric car you will hear more about that coming up.

jenny harrington thank you for coming on. >> thanks. you're very well come we wrap it up. i'm off tomorrow "squawk box" picking it up with dow futures up 155 see you soon fferent places? sofi is a one-stop shop for your finances designed to work better together. spend with sofi and get cash back rewards that automatically go toward your goals. like investing in stocks, etfs, and crypto. that's better together. or pay down your sofi debt sooner. that's better together. and that's how sofi is helping millions get their money right. ♪ put a little love in your heart - david ruffin ♪ and that's how sofi is helping millions my bad, my bad... good race! -you too! you were tough out there...

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good morning futures once again pointing to gains at the open. we'll see whether it means more than it meant yesterday. it didn't mean anything. earnings season is rolling on. we hear from eli lilly, under armour in the next hour. chinese gaming stocks hammered overnight i thought it might be property or health care

online gaming, perhaps, the next target because it is being called the opium of the mind in an article over there. a closer look at the return to work for major companies as covid cases surge in the u.s it is tuesday, august 3rd, 2021. "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc i'm becky quick along with joe kernen and andrew ross sorkin. joe, you are right positive territory yesterday at this time. the dow actually set an all-time high early in the session before giving it all back and closing down 100 points. s&p was down this is four of five session