ship packages anytime anywhere for less a lot less 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 it is 5:00 a.m. on wall street here is the top "five@5." markets tanking yesterday on europe fears crude oil prices come down recently, could opec actually cut production we spoke with the saudi energy minister the key take aways ahead. apple looking to diversify the supply chain away from china ahead of the next iphone launch in september. former president trump challenging the legality of the

mar-a-lago search which uncovered more than 300 classified documents. later on, fall from grace. one pandemic stock winner is cut down to size this morning. it is happening on this tuesday, august 23rd. you are watching "worldwide exchange." well, good morning, good afternoon or good evening. welcome from wherever in the world you may be watching. i am brian sullivan. thanks for joining us. let's jump in and get to the tuesday money with u.s. stock futures showing a bounce back. right now all of the major averages up .20% dow up 60 points we are in the green. now wall street coming off some of the biggest declines of the year largely by what we warned you about at the end of last week. huge options expirations and new

options positions by hedge funds. we talked about this on the down side on thursday and friday. that's precisely what we got now ahead of the trade today, the dow and s&p are coming off 2% losses respectively for the worst declines since june 16th worse for tech nasdaq coming off the more than 2.5% loss. worst daysince june 28th the five stocks in the nasdaq 100 ending monday higher wow. with those moves now, the dow is off 10% from the all-time high s&p down 14. nasdaq with the summer nice run is off 23% from the all-time high giveth and they taketh away. speaking with nasdaq and big tech brutal for tesla, microsoft, apple and ore. the stocks with the heaviest options activity as well

losing billions in market value. take a look at some of the declines in all, $237 billion in market value wiped out on monday. with that selloff, bonds got bought and yields rose 10-year treasury back above 3% that should have mortgage rates ticking higher the 10-year treasury at 3.01%. now in the oil market, we are also seeing a move crude oil is on the rise over $91 a barrel here and natural gas is nearing $10 per contract wow. that is some of the highest numbers for nat gas we have seen in years we spoke with the saudi energy minister salman on monday afternoon. it seemed clear to me in our conversation that they believe the oil market may be being manipulated and opec may be ready to defend prices very soon that could include a possible

cut. we'll get more on the conversation in a couple of moments. in crypto? bitcoin and ethereum on the rise right now. up 2% and 3% respect iverespect. let's go around the world and see what is happening in europe as the euro is trading against the lowest level against the dollar in 20 years julianna tatelbaum is in london with more. julianna >> brian, good morning things are stable in europe this morning after yesterday we saw the stoxx 600 lose 1% and the german market pull back more than 2%. lots of concern around the energy picture as you know well, brian, yesterday that weighed on risk sentiment in europe this morning, the dax bouncing back .20%. leading the gains alongside italy up .80%. yesterday, with saw out performance in the uk and swiss

markets. today is a reversal of the trend. we got fresh pmi data this morning which investors consider to be forward looking. what we learned is the eurozone contracted again in the month of august and the uk manufacturing sector hit its lowest level in terms of the pmi since may 2020. manufacturing under a huge amount of pressure in the uk as supply chain and inflation pressure continue to have an impact in terms of the euro, brian, you mentioned falling below parity it is below that level this morning. we bounced off the lows of the morning. as you can see, well below the parity level sterling hovering at the flat line that is interesting given the disappointing uk pmi data that came through we are significantly lower than we were a couple of months ago a couple of weeks ago around $117.66. stable after the recent selloff. brian, back to you.

>> julianna, thank you very much. let's go stateside and the headlines and what could be a change for apple manufacturing frank holland is here. >> apparele plans to start the t iphone in india two months after the initial release out of china. the company has been working with suppliers to ramp up manufacturing in india to shorten the lag in production from the typical six to nine months the move is part to diversify away from china amid the production disruption and increasing scrutiny out of beijing. mcdonald's is shaking up the board of directors with sheila penrose who leads the corporate responsibility committee she is stepping down on september 30th penrose served since 2006 and found herself the target of carl icahn and his proxy fight.

mcdonald's is adding executives from marriott and johnson & johnson to the board. a new record from zillow is showing the home prices are falling. .1%. the first month over month decline since 2012 that amounts to $366 with the typical u.s. hope price sitting at just over $357,000. that's the latest. brian, back to you. >> frank, good morning see you in a few minutes. now to a developing story in the latest on the fbi search of trump's mar-a-lago estate. reportedly uncovered more than 300 classified documents from the former president nbc's brie jackson is here from washington with more >> reporter: good morning, brian. trump's legal team has filed its first filing since the fbi searched his florida home two weeks ago. in it, they called the search

shockingly aggressive and say they want any materials not covered by the search warrant re returned former president trump is asking for a special master to review the documents seized from mar-a-lago >> not republican, not democrat. impartial special master to go in and take a look at what they seized >> reporter: the justice department said the august 8 search warrant was authorized by a federal court upon the finding of probable cause. >> the justice department speaks through court filings. >> reporter: the trump team filing lays out details about the investigation. on august 8th, when mr. trump's lawyer was notified about the search the filing reveals a phone call from the unnamed trump lawyer to the justice department on august 11th delivering this message. president trump wants the attorney general to know he has

been hearing from people all over the country the heat is building up. the pressure is building up. >> there could be negative repercussions in terms of feeding a narrative that something is hidden from the public >> reporter: as public interest in the investigation intensifies, a federal judge indicates he may not unseal much, if any, of the affidavit used to justify the search >> the judge is putting a fine point on an argument that the government makes which was people can be harassed and intimidated here >> reporter: the doj has until thursday to submit redactions to the document according to the new york sometimtimes, there could be 300 documents seized from mar-a-lago this includes somedocuments that were retrieved by the national archives in january about 150 of those were classified or marked as classified

brian. >> brie, there have been media reports shedding light on what those documents may be we don't know, but what are some reports telling us >> reporter: in addition to those marked classified from the search or at least from the documents handed over to the national archives, there was a second batch handed to doj in june then the third batch seized by the fbi earlier this month in it, it included one document that was marked as top secret. brian. >> brie jackson on the developing story from mar-a-lago and d.c. thank you very much. we have more to do on this tuesday morning. when we come back, details from the one-on-one conversation with saudi energy minister bin salman why he thinks the market may be manip manipulated. germany firing up a

moth-ball coal plant as it looks to solve the energy crisis. and yesterday's meltdown and what is in store for the fall as we talk to kyle bass of hayman capital. this is a very busy hour on "worldwide exchange. we will return after this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones power e*trade's easy-to-use tools like dynamic charting and risk-reward analysis help make trading feel effortless and its customizable scans with social sentiment help you find and unlock opportunities in the market with powerful, easy-to-use tools

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welcome back let's get the latest in the europe growing energy crisis natural gas spot trading in europe high. uk natural gas at the highest level in more than four months

all this as germany and other nations are racing to secure energy supplies for the winter with the russian gaz prom saying it will shutdown nord stream 1 for maintenance on monday. the natural gas price per hour is equal to $80 u.s. per natural gas contract amid the scramble, uniper, the bigger power producer in germany, is restarting a coal fired power plant to produce ele electricity for the market germany promised to end nuclear power by the end of the decade, but the reliance on coal is bitter but necessary joining us now is the associate director of research at rbc capital marnkets

b biraj borkhataria, you talked about the shutdown and demand hit. you talked about a potential 20% demand destruction that would be necessary to have the supplies needed for winter. talk to us about what that would mean that is one out of five power days effectively going offline in germany >> europe has exhausted all measures it has. you are taking as much lng as you can get. you have fuel switching and so on it comes down to demand reduction. that 20% figure we highlighted is realistic i think actually the worst case could be higher than that. you will see industry likely to take the brunt of that also consumers and businesses will naturally see demand come down because pricing will be so high and that forces the demand

destruction. >> okay. i want to focus on a little bit of good news and then the not so good news. the good news, biraj, the storage levels in germany are 80% of where they normally are that is pretty good. storage is fine. as i understand it and correct me if i'm wrong, the storage levels also assume that gas flows from russian pipelines continue if we have no flows or 20% on nord stream and other two pipelines close and enter winter at 80%, it seems to me that is still very bad news. am i miscalculating something? >> no, i think this situation has been playing out for a number of months you see the scramble for gas across european countries heading into this. 80% is a reasonably okay figure at this point. you see by the chart, you are in the middle of the range the last few years.

however, if you have a shutoff of gas, that 80% will wind down quickly. we argue there is too much focus on this winter because of what you are seeing the scramble for gas this winter will be okay unlikely to get to zero. however, once you roll through post winter, you end up in the exact same situation next year and skracramble for gas in the summer and winter '23 and '24 will be painful. >> this is a really important point you are making unless something changes with the war or sanctions or with gaz prom, this is not a six-month issue, is it this could go on for years and get worse. >> yeah, this is likely to be -- it took multiple years to get into this situation. it is likely to take multiple years to get out of the situation. i think you have to consider the

structure aspects of what happens with demand. if you are an industrial company in europe and pay high carbon prices, now you have to worry about access to energy maybe you start to think about relocating the facilities elsewhere. that has impact on european gdp. >> yeah. by the way, i have no idea what is going on in the office building behind you, biraj, but everybody is walking down the staircase. we showed a shot of the glass building behind you. you and i met last fall. i was there covering the uk power problems this was before putin's insane war. can you give us a viewpoint, not as analyst, but resident of the uk and power b bills there the reality is there were many structure energy issues heading

into this which maybe emboldened putin. what withis it like to be you ad living in the u sdk? >> fromthere is a lag in the mat and what was reviewed in march and october. they are going up substantially. the average consumer will feel the pain significantly from october when the prices go up and likely in january when they go up further. there is likely to be very significant social unrest and the governments are obviously likely to step in and subsidize consumers and low incomes which will be hurting from the crisis. >> talking about millions of people unable to pay their heating bill this winter in the uk and maybe tens of millions more in europe biraj, we normally talk about stocks this is a huge issue there and

here as well biraj, thank you very much >> thank you all right. speaking of the oil and energy market i had an interesting telephone conversation with the saudi energy minister monday afternoon. fairly long and rare on the record conversation with abdulaziz bin salman the take away i had is the chance that opec and opec plus could try to tighten the oil market very soon either at the september 5th meeting or a surprise move with a cut ahead of that. bin salman was concerned of the issues like china's continued slowdown, europe's problems and the possibility of eyiranian barrels returning to the market. bin salman showing the paper market, those on the screen, and the physical market, meaning

actual delivery of the barrel, is growing wide. at one point in the call, he said, quote call an airline and see how hard it is to hedge right now, end quote he implied the lack of liquidity in oil futures could lead to, in his words, possible manipulation although he stopped short of confirming to me the market was indeed being manipulated and by whom if it was, it would be a huge player selling contracts short to move prices down. i asked bin salman about the likely impact of eu sanctions on the oil market remember those kick in december 5th. he said he did not want to see the oil market become like the european natural gas market right now which i took to mean he was concerned about a market that goes soaring to the up side. there is a lot there clearly saudis would like to send the oil markets and maybe the u.s. government a message

that production cuts could be coming because of problems they see in the oil market. all right. by the way, oil is higher this morning. still on deck, the big money movers and wild bet by amc ceo adam aron paying off in a big way. stick around does your vitamin c last 24 hours? only nature's bounty does. with immune 24 hour plus... you get longer-lasting vitamin c... plus herbal and other immune superstars. get more with nature's bounty.

welcome back time for big money movers on tuesday morning.

shares of zoom video under pressure ahead of the open after mixed results for the recent quarter. that stock down 10%. zoom also lowering the full year forecast for earnings and revenue. pandemic buying patterns dwindle and focus shifts second quarter sales growth down from 12% in the prior quarter. everybody after labor day back to the office. the zoom cfo will be on "squawk box" at 8:30 a.m. eastern time shares of palo alto network pop popping. guidance topping estimate. it is offering a 3 for 1 stock split. that stock higher right now. shares of amc and preferred stock ticker ape higher after a wild session yesterday that saw both stocks halted in trading. despite massive interest in

retail investors, many remain skeptical amc intentions of the preferred stock. if anything, of any new real value. ape and amc higher this morning. let's get a check of the other key headlines outside of money and business and severe weather sweeping cracross the south with frances rivera in new york >> good morning. we begin with the major rainfall across the country and deadly flooding in dallas officials confirm a 60-year-old woman died when the car was washed away in the flood dallas afn fire and rescue had e than 90 rescues from sunday night to monday afternoon. and in eastern arizona, evacuations in the town of duncan the mayor said the flood waters could bring peril to life and property millions of people waiting

to see if the pause on federal student loan payments will be extended beyond the end of the month. c cnn is reporting that they are leaning to cancel debt for people making $125,000 or less a year nbc has not confirmed that report, but president biden was supportive of a similar plan while on the campaign trail. now to a little business in the front and party in the back. the national mullet championship crowned the winners. 81-year-old bailey beat out 688 people he plans to donate the money to a catch a dream foundation then the teens division. cayden took the top spot he has been growing his locks for three years. both big winners from wisconsin

and one in florida brian, ever in the history of your life, have you had a mullet >> oh, have i? i'm not saying i would have won the competition, frances i'll post the picture. >> do it. >> yeah, i had a mullet. i shaved one side which was a skater thing i spent a lot of time in wisconsin. i may or may not be near wisconsin right now. i can assure you the mulle it is mullet is alive and well >> i know you are into the hair bands. i'm sure >> who doesn't love a little ronnie james dio or crocus kicks?

mastedon triumph. >> quarterflash. pat ben etar >> lita forde. i know what i'll listen to on the way home. ahead, a one-on-one with kyle bass with hayman capital. his take on the energy crisis and what is driving the recent market turmoil ahead our conversation with kyle coming up in a couple of minutes. ♪ ♪ ♪ ♪ when tired, achy feet make your whole body want to stop, it's dr. scholl's time. our insoles are designed with unique massaging gel waves, for all-day comfort and energy.

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the recent rally for stocks faltering over growing fears of global recession our conversation with kyle bass. a key part of recession chatter is the energy crisis in europe staggering stats and how much more people are paying to keep the lights on just in the last week. and elon musk dragging his old pal jack dorsey in the legal fight for the failed takeover the twitter. it is all happening on this tuesday, august 23rd this is "worldwide exchange. here on cnbc >> welcome or welcome back good tuesday morning thanks for joining us. 5:30 on the east coast

let's get to your tuesday money with stock futures mildly on the rise all this coming off the biggest declines of the year on monday the dow and s&p seeing the worst day since mid-june nasdaq coming off the worst day since late june with a 2% drop dow up 50 points right now in all, five nasdaq 100 stocks rose on monday pinduoduo among them the worst on the nasdaq 100. netflix, booking holding and match group and align tech and asml the selloff driven by what we warned you about last week which, of course, is the huge options expiration and new positioning by hedge funds they are worried about what is happening in europe and the federal reserve and all those options, $2 trillion in value, they flipped last week

we talked about it on thursday volatility, tigly o lyparticulae sell side, you have to watch the concept of market structure. stocks sold and bonds boughtan yields rose. 10-year treasury back above 3% that should have mortgage rates ticking higher in the oil market, crude oil on the rise so, too, is natural gas. crude oil right now is up $1.45 to $91.80. natural gas is inflationary. natural gas is a key input and so much of what wie all buy as well as electricity production $9.89. highest in 15years what about europe? energy and power costs have gone par gone parabolically high. that is equal to $80 u.s

we want to put monday's move, huge moves yesterday, into perspective. in the last two session, spot natural gas has risen by more than the entire contract costs just over a year ago that contract has risen by more than 40 euro per contract. just ten months ago, the entire contract cost only 39 euro it jumped by more than it totally costs last year. i guess the rough equal would be if the price of gasoline went from $5 a gallon to $10 a gallon in two days. only actually much worse there we'll get more with kyle bass in a moment right now, the corporate stories and elon musk launching the strike in the fight to bailout of the takeover twitter. frank is back with that and more >> good morning, brian

the saga continues elon musk bringing jack dorsey into the legal wrangling lawyers for musk sending dorsey a subpoena for fake accounts on the platform this has been at the center to abandon the $44 billion takeover of twitter musk is seeking details on the daily users and other metrics. a former apple engineer is accused of stealing filies about the car division he has pleaded guilty. the former engineer faced up to ten years in prison and $250,000 fine sentencing is scheduled for november premiere of "game of thrones" spinoff is pulling in 10 million viewers which is the biggest debut in history that figure combining with

platform users, "the house of the dragon" performed the original premiere back in 2011 the pre-miere of the show's eighth season pulled in 17.9 million people brian, i watched it. i was impressed. great graphics and everything else i liked the acting hard to compare to the original. the casting was different. >> the original is so amazing. i'm worried about getting sucked into this. could it ever match up >> it is hard. it is really hard. the casting for the first was outstanding. sean bean. some of the casting is irreplaceable. you have the characters in your mind i was impressed by the plot and acting >> maybe i'll check it out we'll see. the original the mountain the dog.

some of the fights absolutely stunning. thank you very much. >> thank you check it out all right. from that to more on europe and how the energy crisis could impact global markets. hayman capital's kyle bass is known for the big short on housing during the subprime crisis he was a voice on the greek crisis which hit europe a year later. we sat an down wdown with him a how this story will play out and if the financial down turn is inn evident able at this point >> when you look at europe today and the poor planning and if it is europe or the u.s. or the west in general, we've all been moving forward a much greener future from the energy side. the problem is it seems like the powers that be had been taking policy advice from small ngos

and teenagers talking about the need to reduce carbon emissions in the world and not putting together a comprehensive science based, math based approach to energy transition. i think the question you set me up for is is there a problem on the horizon in europe? i just spoke with a good friend who is in germany who is in the u.s. armed forces who told me their average monthly power bill has gone from 150 euro a month to 800 euro a month at the last bill as you know, those people don't make that much money when you have a power bill moving almost 600% within a year, and power bill has doubled in the last three months, but they're up price per mega watt hour is up more than 14 times in

europe i think they have a problem. imagine whatever your monthly bill is for electricity or power, imagine multiplying it between 6 and 10 understanding what kind of financial impact that would have for your household and household consumption. i think right around the corner, germany, italy and france and europe are in real trouble. >> politicians will blame putin and there is a lot of blame that will go on vladimir putin and his insane war these problems started long before that. we were in the uk in november, obviously before theinvasion talking about the bad set up and policy is it fair to say, kyle, yes, what is happening with the war and pipeline games that an putin is playing is now creating a lot of chaos the reason europe got in this position is years or more than a decade of addiction to cheap

russian gas which enabled putin to flex. they may have flipped the rationale? >> you are hitting the nail on the head, brian. if you look at what happened, you had schroeder who ruled germany as chancellor for two sessions, right? basically from '98 to 2005, he was chancellor of germany. he started decommissions the nuclear power in germany back then saying there was a much larger supply of cheap gas in russia literally when you look back to the timeline, it's frightening what you see putin doing with schroeder. schroeder was right before he was voted out in 2005, as chancellor, a few weeks

beforehand, he agreed the german government to guarantee $1 billion euro of the nord stream pipeline within days of the departure, he was ceo of nord stream 1 then in 2016, they added him to be chairman of the board of rosnef the russian largest oil producer 20 days before the poutin invasion of ukraine, this year, on february 4th, heagreed to join the board of gazprom. when you look back at what happened, schroeder sold germany and really europe out to russia to a plan that putin has had for decades. he made them incredibly dependent on russian gas you know, president bush 43, had

conversations with schroeder in his second term and said don't you think relying on russian gas puts you in a really bad national security problem and schroeder said no. russia is globaliziglobalizing. this is the wave of the future we have a great relationship with russia. there is an endless supply of cheap gas. it seems like russia bought schroeder. >> all right certainly there is more to the interview with kyle bass it went 15 minutes you can watch the entire thing, including the comments of europe's problems may impact u.s. stock markets and our economy. it is on cnbc.com. check it out a wide ranging conversation with kyle i reassure you, there is no love lost for mr. schroeder. coming up, your morning rbi and rare good news about the weather. all we hear is bad news. good news for you.

as we head to break, key headlines happening now and not so good news for china's ongoing heat wave. officials are shuttering manufacturing and shopping malls can only open from 4:00 to 9:00 p.m. due to power rationing. that is what happens when you don't plan no matter what happens with the weather. pinduoduo is launching a platform next month and they will target the u.s. as the first market and marks the biggest push abroad of pinduoduo. this is a bust for the ipo markets. new data from deal data shows 5.1 billion$5.1 billion and usu about $3 billion at this point last year at this point, raised

about a 5% run rate. ouch we're back after this. hey dad, i'm almost out. i got you. any questions, chris? all good, thanks maura! there you go, one new inhaler! nice did you get my refill too? maybe [door bell] here you go, sir. you're a lifesaver. have a nice day. healthier is managing all your family's prescriptions in one app. cvs pharmacy. healthier happens together

all right. it is that time of morning to get random but interesting on this tuesday, let's talk about the weather. there is something happening that is not getting a lot of attention. it is not getting much attention because nothing has been happening. by nothing, we mean any big storm so far this hurricane

season there have not been any, if you think that is unusual, you would be correct in fact, according to accuweather, we are kind of near the history books because this is only the third time in 60 years we have not had a named storm so far this far into august the other two times? 1961 and 1997. now 2022 a few decades between each occurrence this is the kind of unusual occurrence we want, right? no storms. in other words, rare good weather-related news can this last? accuweather says probably not. in fact, there is rain activity near southern mexico that could get stronger or move north maybe activity off the african coast that could turn into a tropical storm let's hope against that. accuweather says if we can get through the entire month of august with zero named storms,

it would be, in their words, i emailed with them, an impressive feat couple of days to go keep an eye on the weather we know if mother nature stays cool, calm and collected, we may just have an august for the weather history books. now, please, fingers crossed, we do not jinx it no broadcaster's curse we like it that way especially with the spr oil reserve very low. random but interesting. coming up on "worldwide exchange." stocks looking for a tuesday turn around? following monday's selloff stick around if you have not already, follow our podcast it is called "worldwide exchange." i hear it's pretty good.

checit ok ut for yourself. we'll be right back.

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let's get a look ahead of the day for investors. economic data you can chew on. 9:45 is the flash reading and pmi for august at 10:00 a.m., new home sales. earnings front from macy's and dick's and nordstrom and toll brothers and you have somebody from the fed speaking of course, every day neel kashkari speaking in minneapolis this evening and at jackson hole an lalater on in t week remember the days when the fed spoke twice a year now it is twice a day.

and we have the key drivers for the markets and coupled with that and options expirations that happened last week and new hurdles for your markets and money on friday and yesterday. our next guest says for long-term investors, there is always opportunity to be found we love that ing healther brilliant is the ce of diamond hill. heather, you want to invest for the long term. that is why you think as a company. a company like diagio could benefit long term. >> thanks for having me back that is a great example of where we like to look to figure out the long-term earnings power of the business that's how we invest they have great friends and

investing heavily over the period i think that gives them an opportunity to come out on the other side stronger. if we go into a down turn, people trade down during the vie environments they make more and more investments through the period, diageo increases the ability come out the other side stronger >> certainly an uptake in consumption of beverages in the last couple years. what about a checkpoint software cybersecurity company. what do you like >> checkpoint is an interesting business there is a lot of switching costs that go into making a different decision there is not a lot of upside to making a switch. there are four companies that dominate 60% of the market checkpoint is one of those they benefit from having a

strong position of trust in the market more importantly, you know, at diamond hill, we are focused on valuation. checkpoint is trading at 20% discount of worth. they are great and reinvesting in the business by buying back the shares they generate a huge amount of cash when you take that into consideration and look five years out, it is a no-brainer to consider checkpoint as a very under valued business today. >> your next pick is -- first off, a fascinating company, but also an interesting one given we have been talking about nine months about europe's coming woes this is exor it is not a household name they don't make anything this is the family which has become billionaires due to fiat. they invested in cnh, the farm company. they invested in fiat.

an insurance company heather, with everything in europe, do you want to buy a conglomerate made by very fashionable italian billionaires >> actually, brian, that's why we think it looks interesting. the market is worried about exposure to industrials. it is essentially a conglomerate cnh is another in the portfolio. they are in a process of selling an insurance business. they they are about to get a good influx of cash the family is a great apparent allocator of capital and coming into cash with volatility, it is great to think about the opportunities. being exposed to industrials doesn't worry us when you look at situations where there isn't too many leverage. we are looking for companies that can weather the storm and

come out the other side stronger i think if you look to the cash flow of business in a normal environment, we look at a business likes exor and see opportunity. >> heather brilliant of diamond hill we love it diageo and checkpoint and exor thank you. have a wonderful day i appreciate that. folks, that does it for us on "worldwide exchange." i'm off for the next couple days i'll be back on friday with the insider buy seeinggsegment. tul s $10. "squawk box" is picking up coverage have a great day i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones it's time for the biggest sale of the year, on the sleep number 360 smart bed. it senses your movements and automatically adjusts to keep you both comfortable. i'm so glad we did this. our smart sleepers get 28 minutes more restful sleep per night.

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good morning stocks are trying to climb back after the major acknowledges

suffered the worst day since june 16th. that is the low that we're all talking about. whether it needs to be challenged and broken. we'll see. a developing story. mooelon musk wandsts jack dy to turnover documents. and now opec wants to cut ou output it's tuesday, august 23rd and "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc i'm andrew ross sorkin along with joe kernen. becky's off today. nice to see you, sir we have a lot to talk about because boy was yesterday a wild