it is 5:00 a.m. on cnbc. here is the top five at 5:00 stocks looking to keep the win streak going grinding out small gains and maybe more on tap today. futures are higher jay powell and the fed reiterating the fight against inflation saying they will do whatever it takes to take the bite out of record high prices as the faith in the fed falls. and boris johnson is set to step down as prime minister with the covid scandals and the energy shock

steve sedgwick is live outside 10 downing street. imagine paying double or triple for electricity this is happening in the biggest economies. the latest on the european energy crisis. are you looking for stocky dee stockyideas in the clous louis lousy market we have ideas. this is thursday, july 7th, 2022 this is "worldwide exchange" on cnbc good morning, good afternoon or good evening. welcome from wherever in the world you may be watching. i'm brian sullivan good to be back with you a lot going on let's jump into the markets and your money what has it been a few days a little gains we are on a win streak for stocks that may continue today. stock futures are higher across the board.

this after more gains for stocks on wednesday like we noted, markets have a win streak going a little bit still squeaking out small gains. probably better than the opposite in bonds, 10-year treasury are still below 3% taught in a tug-of-war with aggressive fed and real worries about recession. recession fears also hitting oil which has had one of the fastest biggest drops in the last couple weeks. crude oil back below $99 a barrel that seems cheap lost 17% in a month. by the way, oil stocks have been hitting it hard. xle etf is down 25%. at the same time, lost a quarter of value in the last couple weeks. to breaking news in london multiple reports say boris johnson will resign. the move coming as he faced a

wave of resignation calls to step down over covid scandals and inflation and energy stocks. steve sedgwick is here with the latest >> reporter: brian, i have seen extraordinary events in british politics the last few years. none more extraordinary than the last 48 hours. i was talking to frank who was sitting in yesterday where we had a dozen british resignations from the government. the government is a host of ministers of all levels. up to 120 individuals. i can tell you now, brian, up it to half of the british government has resigned over the last two days. including some of the big beasts of british politics. the chancellor and finance secretary and treasury secretary. the man in charge of northern ireland, which is a key issue in our relations with europe and the republic of ireland. we lost the welsh sector

for briefing the press about boris johnson he should resign boris johnson has lost a number of support within his party. we saw the prime minister questioned yesterday where several members of the back bench mps saying it was time to resign more importantly, brian, the man who is the treasury secretary. he was put in the role two days before and then said today actually he believed that the prime minister boris johnson should resign. they were to announce a new economic policy next week. this made boris johnson's position untenable it seems for the second time in the last three years, i'm standing here where this will be polled out as we saw with theresa may. boris johnson is about to resign in the next few minutes and

hours. >> i know the reports are still just that. reports, steve assuming they are report, you have sky and the ft and many sources saying it. assuming they are correct and boris johnson today, anytime now, in the next hour, as you said, he will announce he's stepping down. is it because of the covid lockdown scandals or energy stocks or inflation shocks or combination of all of the above? >> reporter: you make a fantastic point, brian when i've seen margaret thatcher resign in 1990 her successor resigned tony tony blair resigned and theresa may resigned it was because of policy issues. often over issues with europe. that most famously with margaret

thatcher this is the integrity of the prime minister the partygate scandal. we talked about this more questions this month risen about boris johnson integrity and judgment and appointing a man who had sexual miss con dkt allegations against him when boris johnson was secretary and letting this man come back into government the man who became a deputy whip knowing there are allegations against the said gentleman this led people to question boris johnson's question especially when mps had to go out and defend boris johnson and feel they have not been told the truth. as much, he lost support from a swath of numbers of across the parties. this is not the brexiteers, this

is all across the party. >> british policies is confusing for us on this side of the atlantic if boris johnson does step down, he announces today i'm leaving, is he gone tomorrow or does he hang around until a successor is found? if so, how would that happen >> reporter: brian, that is the brilliant question it is the exact question and mps in his party are asking. the question the leader of the opposition wants to say as well. he wants a complete vote for the population of who should be the next prime minister. only in 2019 and this is boris johnson's selling point, i led you to an enormous victory they have a majority at the moment they have a strong working majority will boris johnson remain in power? that is what he wants to do. he wants to be a caretaker prime

minister until the process of electing the successor of the leader of the party and then become the next prime minister is elected let me tell you about the timeframe. theresa may resigned in late may or said she would resign in june we didn't have a new leader of the conservative party and a new prime minister until late july the process could be elongated and actually see boris johnson in his position until the autumn is what we understand. there is a big but, such is the corrosion and distaste with leadership and anger with boris johnson that many conservative party mps would not want him as care caretaker. it could be dominik robb or somebody else. it goes to the mps in parliament conservative mps vote in various rounds and they pick two candidates and they go to the conservative party members that is how it works in the uk

>> you made it clear as always steve sedgwick outside 10 downing street we could get a resignation and same man at 10 downing street for a few more months. fascinating. steve sedgwick, thank you. we will update you on everything that is happening with that story from england he could resign any moment if he does, we will go to that in the meantime, the federal reserve increasingly losing credibility with investigators, b investors, but looking to raise rates. officials reiterating a stance against inflation with another .75 hike likely at this meeting. the fed looking to tackle high inflation even if it means putting the american economy into recession if we aren't in one already. let's bring in ralph passbasset. ralph, thank you it is the only question for the

investors in the united states how much of a slowdown and/or recession is already priced into the american stock market? >> so we had our internal meetings to go through that question at the end of the quarter. it is a difficult one to answer on a number of fronts. what i can tell you is our view is really the policy path from a fed perspective is largely priced in. that is looking over the next 12 to 18 months what we have seen is negligence s negligencative revisions. i guess we are getting to a level where it feels the bad news is priced in. what we struggle with is where does the upside come in from that perspective >> you make a great point, ralph. two very different sides to the equity market. we think if we stop going down, we must go up.

1970s taught us this you had big rallies inside the bear market, but because we stopped going down more doesn't mean the markets have to rally back, does it? they can sit annd wall ow as thy figure out where the market comes in >> we he feel that hasn't happened yet we have not seen the earnings resc revi revisions. we don't see valuations where they discount the interest rate environment and pressure on the pe multiple. importantly, factor in for the negative revisions that is one thing that would lead us to be more constructive. the second thing is the fed policy and that being navigated seamlessly we just don't see that unfolding. our point there would be getting through recession. and importantly coming out with better growth and interest rate environment to lead to positive

revisions. that's a way off >> yeah. you guys at beaberdeen your job is to invest. where is in that >> it is difficult we are coming through with a view that we want to look out over the next two or three years. i know that is difficult we tend to not chase markets we are believers in growth and innovation i think my counterparts are struggling with the value growth balance. our view is that whole growth trade is unwound especially post covid. especially for profitable companies. we have been willing to pay more for stability and growth and visibility of the growth that is what started investing in the last five years and in the recent market environment. >> yeah. that's well said ralph, it has been hard this year certainly stocks have been

through worse on been through this before. they tend to be higher over time ralph bassett, have a great day. thank you very much. we have a lot more to do on this thursday. when we come back, executive summary of the an european energy crisis and it is a growing crisis no signs of letting up later, reading the tea leaves of the growing recession worries. the words about the job market and the road ahead stock futures are up oil below 99 we're back right after this.

there's a reason comcast business powers more businesses than any other provider. actually, there's a few... comcast business offers the fastest, reliable network... the protection of securityedge™ and the most reliable 5g network. want me to keep going? i can... whether your small business is starting or growing, you need comcast business. technology solutions that put you ahead. get a great offer on internet and security, now with more speed and more bandwidth. plus find out how to get up to a $650 prepaid card with a qualifying bundle.

welcome back let's get a check of the business hid eadlines kristina partsinevelos has the details. >> good morning. can you guess? shares of gamestop jumping ahead of the open after the retailer announced the board signed off on the 4 for 1 split shareholders will get three additional shares for the class a common stock they hold gamestop initially proposed the stock in march this is not new news it did not do so at the time because shareholders needed to authorize the shares and the board approved samsung record of run results coming to an end the tech giant forecasting a

quarterly profit to $10 billion. below expectations results will be released later this month. fda looking to oversee baby food formula makers to sell in the united states after shortages subside. the agency revealing it will develop a framework to develop the companies to keep products on the store shelves any changes could help strengthen the formula supply chain in the wake of the shortages impacting so many families that you saw over the past few months. >> an important story and maybe good news. kristina partsinevelos, thank you. let's update you on the biggest economic and market story in the world that is europe's growing energy crisis a lot going on here is an executive summary of everything happening germany whole sale electricity prices have hit more than $330 per mega watt hour.

for prices in new england, boston, et cetera, are $74 an power in may germany is facing 350% higher costs than places like boston which has the highest costs already in america it is not just germany right now. the uk reportedly racing to reopen the gas storagage faciliy france, suffering through outages at nuclear facilities. the french government is talking about nationalizing the big utility in france. italy just passed a $3.5 billion aid package to help families cope with higher energy costs. in the netherlands, dutch farmers are blocking roads after the government announced plans to cut farm emissions or

effectively force families to close their farms. remember that holland is the biggest food exporter. there's a lot of serious stuff happening in europe with energy right now. we highlight some of the issues and their economic risks and new op-ed on cnbc.com is up there now. check it out by the way, there is good news here, maybe. the eu has just ruled that in some cases natural gas and nuclear can be considered sustainable energy sources a shockingly rational decision by the eu, we know the real risk of politicians being run out of town by angry citizens due to change on deck here on "worldwide exchange." more on the developing story in the uk

boris johnson may be set to quit any minute as uk prime minister. we'll update you on that. apple looking to overall one of the products and getting an extreme upgrade for those living a more rugged lifestyle. those are your clues the story ahead. an inspiration. and enough space to start an empire. loopnet. the most popular place to find a space.

only at vanguard, you're more than just an investor you're an owner. that means that your goals are ours too. and vanguard retirement tools and advice can help you get there. that's the value of ownership. welcome back some of the biggest players in media and technology coming

together in idaho for the allen and company conference julia boorstin is there and spoke with the european communications giant liberty global >> reporter: i sat down with the ceo of liberty global which operates in five markets for the mobile and broadband services. he expects his company to continue to be resilient to economic pressure. >> i think the european consumer is feeling very much the same as the u.s. consumer. confidence is lower. impacted by inflation which is high single digits across europe, except switzerland where it remains low i think the politicians are worried about the broader picture. you will see inflation in check, but gdp growth is stalling a similar picture to the u.s maybe a bit behind

>> reporter: with liberty global shares down year to date, analysts are bullish 89% have a buy or overweight on the stock. >> we're always open minded on the m & a front as buyers and s sellers. in the uk, the largest mobile company and broadband provider there may be opportunities to rationalize whether fiber or content or fixed a lot of things in the uk market unlikely we will go after other things outside the core market we have a $3 billion ventures portfolio and investing in tech and things like that we stay open tuportunistic. >> reporter: you can find more on my interviews on cnbc.com

brian. >> our thanks to julia boorstin. julia will have more from the sun valley conference throughout the day here on cnbc it is like 3:30 in the morning out there. still on deck, the oil story that is largely flying under the radar right now. a huge pipeline that moscow may be forced to shutdown over paper work issues. that story ahead. reminder if you haven't already, follow our podcast. if you missed the show any day, or wake up later, we get it. download it and listen to it in the car or whatever. 'rba rhtfts up 128 wee ckig aer this. 't let s ff ts slow own. so i started taking osteo bi-flex every day because it has joint shield... ...clinically shown to improve joint comfort within 7 days. osteo bi-flex - available at your local retailer and club.

(vo) this is more than just glass, walls, doors and carpeted floor. osteo bi-flex - it's a place to change the world. loopnet. the most popular place to find a space.

there's a reason comcast business powers more businesses than any other provider. actually, there's a few... comcast business offers the fastest, reliable network... the protection of securityedge™ and the most reliable 5g network. want me to keep going? i can... whether your small business is starting or growing, you need comcast business. technology solutions that put you ahead. get a great offer on internet and security, now with more speed and more bandwidth. plus find out how to get up to a $650 prepaid card with a qualifying bundle.

can we make it four in a row for stocks futures are higher investors starting to question the federal reserve. and inflation. where are all of the american workers? recession fears grow can the economy grow if nobody can find anybody to hire and morning rbi and four stocks one big bank just loves right now. get your pens ready. it is thursday, july 7th this is "worldwide exchange.

welcome or welcome back. i'm brian sullivan it is 5:30 in the morning. stock futures are higher dow up 128 points right now. .40% gains today in the market, a long way to go, gains today will make it four in a row. math tells me we're three in a row coming in to today do keep in mind that the total gain is less than 1% overall we will take what we can in this market this year right? oil and energy something is going on in kazakhstan it is not getting attention it deserves a russian court order ed caspian pipeline consortium to suspend all operations pending review of paperwork. the review has to do with safety concerns and spill risks from the pipeline that shutdown in the last 30 days whether you believe that reason by the court or not, the cpc is

an export point for the region with over 1 million barrels a day flowing through it oil is still flowing through the pipeline at this point if this 30-day paperwork wink-wink shutdown happens, it will take 1 million barrels off the market chevron is a partner in the cpc. something else to watch in global oil and energy. to the breaking news in the uk boris johnson is set to announce his resignation as prime minister a spokesperson confirming johnson will make a statement later on today although not clarifying exactly what numerous reports saying johnson will step down as the conservative leader, but may continue on as prime minister until the fall when a replace the is found of the or he could be booted sooner this comes as a growing wave of

resignations of more than 50 members of parliament resigns since tuesday. we are seeing the ftse actually up over 1% by the way, that press conference, those statements could happen any moment. if they do, we will take you there. now time for the other key headlines and a multibillion dollar deal in therma industry kristina partsinevelos is back with that and more >> let's talk about merck. they are looking for a deal worth $40 billion. the companies are discussing the price of more than $200 a share. merck is hoping to seal the deal before the second quarter earnings on july 28th. seagen is looking to the cancer drug which losing patent protection by the end of the de decade. american airlines will give pilots triple pay fo

pilots to drop future trips from the schedule leaving more than 12,000 flights in july without a captain, first officer or both of the both the issue would not impact operation or passenger flights the union said reinstating the flights violated the contract. apple is getting extreme bloomberg reporting it is working on a smartwatch geared to sports. a more shattered resistant screen it will include a larger battery letting athletes track their workouts for a longer period of time the question, brian, do you track your fitness and your sleep? >> i do. i do very much in fact, on this schedule, tracking sleep is key.

i actually found in the last four days or five days, because i was off. i slept more than 50 hours >> whoa. >> in five days. >> whoa. you must be tired. or you were. >> well, i slept two and a half last night i kind of see the balance. >> you are lucky you don't have dark circles. two and a half hours i would not be functioning >> i'm naturally handsome. i use the ring i andrew is a fan not an endorsement it tracks heart rate it works kristina partsinevelos, thank you. i'll send you my sleep data. the busy week on employment data rolls on. the jobless claims at 8:30 a.m the jobs numbers for june as well

a tick down from may look at the chart from glassdoor. it shows on the soecial net networking platform, talk of layoffs rose in june the highest level in a long time recession concerns a lot of concerns about where the workers are. for more, let's bring in daniel zhao at glassdoor. daniel, how is the job market overall? >> i would say the job market overall is still very strong we do see that even though there are signs of cooling as the economy cools, we are going from white hot to red hot temperature is coming down a few degrees, but things are healthy. we are seeing concerns especially from employees. we have seen this uptick in discussions of layoff and recession. similar to the pandemic. it goes to show that concerns are elevated right now

even if we are not seeing the same widespread layoffs, but the concern of the economic environment. >> you know, the one thing i see, daniel, and i talk to business owners big and small. i walk into a shop or ceo on air. every single one says the same thing. where are the workers? they can't find anybody. for some entry level job or a high skilled job what happened to the work force? >> i think it is really interesting because maybe a year ago, the concern was about labor shortages because we were coming out of the pandemic and unsure if we would get back the labor force participation before covid began. on the flip side, this is a different picture. labor force recovered. we saw millions of workers come back into the labor force last year and actually end up finding

jobs the unemployment rate is near a 50-year low right now. what we're seeing is that it is still very difficult to hire the picture and narrative changed. this is not about labor shortages, but the fierce competition. the employers are competing harder than they had to before because demand for workers is so high >> you know, i want to believe you, daniel. every business owner i talked to said i lost people and they didn't take another job. they're out there. maybe that's in certain markets. we'll see. are there any markets hotter or type of job or geography that are hotter right now if people are looking for a job, they should go here? >> i would say the labor markets hottest are industries that include a lot of frontline service workers. retail or food services. also adjacent industries that

expanded during the pandemic think about transportation and warehousing and ecommerce. that has been a sector where we have seen demand absolutely sky rocket this is a case where there isn't always the connection with businesses and workers people face high turnover with businesses this may be a case where businesses don't know where the workers are going. if they are turning over or going to competitor or different industry or just going out of the labor force entirely i suspect these are people finding another job in the industry or outside the industry that is not clear to business that relationship has been fairly weak between the business and employee in that industry. >> you wonder, daniel, with so many people remotely -- i know fewer people working remotely, but millions people do it. if those human connections, if

those bonds we need, are going to be there. it is easier to lay people off you don't know them. daniel zhao, thank you >> you wonder. you don't know somebody. it makes it easier to lay them off. you don't care you don't know if they he ave a family. coming up, crude oil falling 20% in a month the factors that may make the ease or price pain short lived. more pain on the way for those flying british airways scrapping another 10,000 flights from the summer schedule the airline reduced capacity by 30,000 flights or 13% of original capacity. virgin announcing a deal with boeing to build two more mothership aircraft. it carries the spacecraft launch is 13 years old.

and meta calling new vr head sought looking at the iphone app showing it will be dubbed the meta quest pro meta expected to introduce the name formally later this year and details of the head set inailability so we can plug and never live a real life again. we're back after this. r hu d thirty-fuare feet... enough space for your ambition? loopnet. the most popular place to find a space. another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud.

you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities.

what a difference a month makes. maybe some good news on gas prices since hitting $122 in early june oil has been in a steady decline. falling 17% to fall below $100 a barrel this week you have a stronger u.s. dollar and concern of recession and global demand and rising american output. oil's drop has led to some relief at the gas pump national average at $4.75 a gallon nine states are above $5 on average. california still above $6. not everything is coming up rr roses. supply issues and investments in the sector let's talk about this with ann bluntzer

she is with the tcu energy institute. horned frogs great to have out the program. suddenly we're celebrating $99 a barrel i'm old enough to remember when 99 on the upside was devastating. suddenly 99 on the down side by the way, same price, on the down side, looks attractive. what is going on in the near term >> thank you, brian, for having me we are in a volatile time in the industry it is the world's most volatile c commodity. when you mix in russia and ukraine and the lack of capital investment in the sector, you see what we're seeing now which are higher than average prices there is good news and relief. it is starting to come down.

you know, i would project and experts we spend time talking to at the institute at tcu are saying it will be a while. i think a really happy spot for the industry where they can still make the returns they make it can be passed along to the consumer as well with regard to lower prices we are looking at 80 or 90 a barrel which would be good for everybody. >> would that be enough to encourage more investment in the united states and get us back to closing in on the december '19 highs of 12.9 million barrels per day? >> i think so. no matter what, every expert, everybody the biden administration is saying there will be an increase. the numbers from the eia is saying there is an increase in regard to oil and gas.

we won't have a choice but to reinvestment it. they have been requesting a more finishly run business. they want returns back to the shareholders they are putting less back into the business and there's not much of a choice for that anymore. when the demand is higher, it will feel like a more secure place to be able to put investment back into the sector. i'm hopeful. it hasn't happened yet >> all we hear about, ann, is lack of people lack of steel for tubing lack of sand you need water for fracking. that's what we have been talking about for two years. a lot of people left the industry, maybe permanently. do you think we can eventually lure them back and we will see some easing and some of the supply constraints for the raw materials to pull oil out of the

ground >> yes, i do think so. it will not be at the rate that i think everybody would like it to be. i think there is a realistic growth here that could happen. i think we have to continue to invest in other energy sources as well. nuclear is always something that is highly efficient. sometimes unpopular in the public sector. the renewable space. lack of battery storage and technology there is not moving fast enough. when i say return back into the industry, it is in every way and shape and form in energy we need all of it. no doubt about that. it will be slower. it will come back. you know, it is a matter of all the supply issues you just named as well as the human capital piece. i think it is significant to pay attention to this and the industry in oil and gas that has not always been shined in the brightest light.

because of that we have become more efficient i think it is unbelievable the amount of revenue that comes now for the same exact amount of output coming is bigger because we have become more efficient. a mix of those things. go ahead >> i was going to say, we have to wrap up you are kind not shine in the brightest of lights is where a lot of people say the industry needs to be phased out ann bluntzer, thank you. >> i think there is a significant role for the industry to continue to play and continuing to prove with innovation there is exciting things ahead >> yeah. if you want to have a train, plane, most automobiles, large ships. fert fertilizer, food, plastics and chemicals. you do kill the music, guys whatever you think of opec, we

lost a giant in the industry opec secretary-general his term was coming to an end. muhammad barkin passed away in nigeria yesterday. sending out a note that he was lost unexpectedly. whatever you think of the group, i assure you he was always personally kind to me and kind to cnbc. he was thoughtful and he always had a smile. he would always tell a joke. by the way, he was damn good at mediating with the countries at opec that don't like each other very much. our sympathies to his family a gentle giant we're back right after this.

welcome back i'm back the rbi is back. random and interesting thing you hear all day cnbc style. we get random about stocks one upside to the market carnage. there will be great stocks trading at deep discounts. that will be higher a few years from now you don't need to be warren buffett to know that bad, ugly and good alike the key he iis finding the goods in the rubble. rbc made eight changes to the 2022 best ideas. four names in and four others getting the hook these stocks they call high conviction long-term ideas first, the names off the list. amazon out

twilio is out. here is what is being added to rbc's best ideas utility company aes. american tower rbc thinks will get a boost from 5g tower construction. third stock? lonza group. switzerland life sciences company. the ticker is lazgr. and then veeva systems they like software sold to the life sciences industry which is more safe and defensive in nature four names for you at rbc adding to the best ideas list it doesn't mean they guaranteed to be winners. nothing is if you are looking for some new ideas, there you go. random and hopefully profitable.

okay let's bring in our next guest which is degas wright. founder and ceo. in the commercial break, degas, i asked jason, did degas pick veeva systems because of the rbi? he said no it was coincidence veeva is one of the picks you brought today. how about that >> brian, spot-on. we like what peter is doing as the ceo and founder of veeva what they are focusing on is research around medical services and life sciences. nine of ten the elements have increased the earnings and forecast a profit margin of 20%. on top of that, brian, it

actually reinvests 20% of revenues back into research and development to continue to do innovative solutions. >> kind of a rare story these days when we talk about raising earnings estimates degas, we never hear about that. a nice coincidence veeva getting a double plug. ibm. this is the name that is hotly debated for so long. >> you know, this is not your parents big blue they are focusing on the cloud and ai and computer consulting they have a dividend yield of 5% a return of invest to capital of 15% and it has a 27 times multiple this company is doing all the right things in a new area of

technology >> yeah. maybe your parents ibm was a good name back in the day of the they computer now you talk about the surprise of oil and chemicals that is not scaring you off dow chemical >> under the leadership of the ceo since 2020 and he has been employed since 1984 at dow i like what he is doing on cost reduction and resturucturing of the debt this results in higher earnings and invest in new projects they have a return invest of capital of 15% i like the fact what they're doing with the restructuring of the overall debt it is coming down. they are able to do more

investment company they are making the artificial turf >> veeva and ibm and dow degas, what is the next important point? the fed? job market inflation? something else's >> one of the things we are looking at is we feel we are getting into recession the atlanta fed came out with the forecast for the second quarter about a negative 2.1 for gdp. this follows the negative first quarter. the national bureau of economic research may not announce recession because of the strong labor market right now 3.6% unemployment rate the lowest in the last 50 years. two job vacancies for every unemployed person. we feel the labor market is a driver here and will continue to

maybe keep us out of recession for a little bit longer. >> let's hope. 11 million job openings. where are the workers? degas wright, thank you. have a great day see you soon take care. folks, amazing how fast an hour goes. that does it on "worldwide exchange." stay tuned for breaking news prime minister boris johnson may announce any moment he is stepping down. l 're stepping down. we'lsee you tomorrow "squawk box" is next than your genetic code? that doesn't seem fair. we agree. but where you live determines access to doctors, green spaces and fresh food. that's why we grow our own. smart. we don't think it's right that some people are healthier than others just because of where they live. that's why we're delivering food to areas with less access to it, and helping schools teach kids about gardens. wish they'd taught gardening at my school. you would have aced it. introducing elevance health. where health can go. at xfinity, we're constantly innovating.

and we're working 24/7 to connect you introducing elevance health. to more of what you love. we're bringing you the nation's largest gig speed network. available to more homes than anyone else. and with xfi complete, get 10x faster upload speeds. tech upgrades for your changing wifi needs. and advanced security at home and on the go to block millions of threats. only from us... xfinity.

good morning futures pointing to a higher open with the s&p on a three-day winning streak i'll say it again. three-day winning streak. breaking news from the uk. prime minister boris johnson set to resign today.

the british pound and stocks there are rising a mega deal in the works merck in talks to buy biotech company seagen for $40 billion it is thursday, july 7th, 2022 and "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc live at nasdaq market site in times square i'm me lissa lee with joe kerne. becky and andrew are off today it looks like we are on track for a three-day winning streak get the party hats out we are looking at eight points at the open. nasdaq at 34 >>