it is 5:00 a.m. at cnbc global headquarters. here is the "five@5. stocks set to slide after the worst week since march futures are in the red. investors turning attention from the disappointing jobs report to the two key indications out this week. roger ferguson is here to weigh in. the largest pension terms is turning sour on stocks we are asking our experts. and one of the writedowns of

the big tech companies and the one a.i. stock that goldman sachs says is getting warmed up. it is monday, july 10th, 2023 and you are watching "worldwide exchange" here on cnbc good morning welcome to "worldwide exchange." i'm frank holland. let's check on the stock futures. the dow off a three-week losing streak and the futures are in the red. the nasdaq is down .30%. we will watch that throughout the morning. we are looking at the bond market 20-year yield and the 30-year yield is above 4%. we are looking at energy oil trading at the highest level in a month actually since the end of may.

down a bit on the china ppi number crude is back above $73 a barrel brent crude above $77 a barrel both down 1% possibly on the china ppi data. futures are pointing to a lower open let's see how things are shaping up overseas with arabile gumede in the london newsroom arabile, how is the china inflation data impacting the markets overseas the filter through to the market is not bad. if we focus on europe, you will see positive numbers filter through. we hope to send that your way by the scene of the red board with the futures numbers. if you look at the ftse 100, up .10%. we have a telecom company, bt, which may be bought by one german tech company as well.

the big news is the ceo is stepping down within 12 months our process of finding the ceo is under way that will be interesting overall, it is looking like positivity filtering through questions around the central bank expectations. quick look at the asian markets. it was mixed across the board. that is certainly the picture as we see it right now. in fact, speaking of asia, you have the cpi and ppi numbers ppi number is 5.4% down. the ninth straight month in negative territory a.n.t. group announced a share buyback of 70% below the 2020 levels it is offering to repurchase up to $6 billion in shares valuing that fintech giant at $75.8 billion. that is below the $3$315 billion abandoned ipo.

they have been able to sell amid a regulatory traccrackdown. that comes off the regulators and a nearly $1 billion fine on friday this is the mark for now you see mainly on the up with the tech shares. >> arabile gumede live in the london newsroom. arabile, great to see you. turning attention back stateside. this week is shaping up to be a busy one for the markets wednesday, the latest look of inflation with the june cpi report and followed by the preferred gauge of the ppi on thursday those pieces of data may give more clarity on whether the central bank needs to keep up the aggressive policy to combat elevated prices. then we have reports from several banks. jpmorgan chase, citigroup and wells fargo. for more on the week ahead, let's bring in dan varu at palisade management capital.

>> good morning. >> we have market movers cpi and ppi and bank earnings. how do you tell your clients how to prepare >> we will have volatility, frank. in the pre-earnings period where companies can't say a lot about the conditions in businesses analysts are free to lower price targets and change earnings gui guidance i expect we're in the period, i call it the pre-earnings kabuki dance where stocks move around, and the reality is set in when the company actually reports and talk about the conditions in the respective industries and busi businesses >> we see forecasts for the third straight quarter of earnings declines. how do you see that playing out in the market with very important earnings with the big banks coming up this week and a sense of the credit situation in the market >> liquidity conditions are changing and changing rapidly.

i don't know if the market fully appreciates what is happening since we signed the new debt ceiling. we drained $2 billion of liquidity out of the system. it will counterintuitive as we issue new government bonds to replace and fund the activities of the government. that actually drains liquidity at the same time, the fed is engaging in kwaquantitative tightening it will make for more volatile times. banks will have less capital to deploy over that period of time while for regional banks, it is more complicated because they have to pay more to get the deposits as they go through the period. >> i want to talk about rising rates. we were showing a board of treasuries, all of them, above 4% yield i want to talk about the note out yesterday. we talked about a 45/50 sealing

f -- ceiling. small caps and china should perform better do you agree >> i agree with that this has been an extraordinarily narrow and unusual market. you know, liquidity that was coming into the system until fairly recently, concentrated into the largest technology companies in the largest cap companies. i think that is starting to reverse itself we started to see that in june i think that trend is going to continue because there is a lot more valuation supported in small cap stocks and midcap stocks versus the s&p or when looking at the equal weighted s&p 500 which trades at a significant discount to the price earnings >> a lot of people talking about

the equal weighted index dan veru, thank you. >> thank you. a lot more to come on "worldwide exchange," including the one word investors need to know today more on the two key inflation reports with former vice chair roger ferguson. and the future investing in and the future investing in china and th ♪♪e at morgan stanley, in the uninvestable era. more ahead when "worldwide exchange" returns. meets bold new thinking. ♪♪ partnering to unlock new ideas, to create new legacies, to transform a company, industry, economy, generation. because grit and vision working in lockstep puts you on the path to your full potential. old school grit. new world ideas. morgan stanley.

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welcome back to "worldwide exchange." treasury secretary janet yellen wrapping up the trip to china with the productive talks with the two countries. eunice yoon is joining me from beijing with more. eunice >> reporter: frank, secretary janet yellen describe the trip as one that helped put the china/u.s. relations on sure footing. yellen said in ten hours of talks which included the economics team of xi jinping and she southght to reassure that te u.s. did not seek to decouple, but diversify the supply chains and the open dialogue would benefit both sides

after her trip on the plane back home, senior treasury official said that the trip was successful because they got to see just how the chinese economic team worked they also got to gauge a little bit better a better sense of how the chinese economy is doing yellen had left a very good impression state media described it as professional and despite the happy talk about the discussions over the past couple days, the chinese position and policies have not changed in fact, the chinese finance ministry said the next steps need to be done by the u.s. and actions were required by china, and that is the u.s. needed to address the cancellation of additional tariffs on chinese goods and cease suppression, the way the chinese described it, of chinese firms. the u.s. using sanctions and

export curbs and lift the ban on products frank, whatever happens in official circles, she left a positive image of the u.s. with the public the one restaurant that i told you about that had dined, they create d the new menu the god of menu. >> not one menu item the whole menu >> reporter: it is >> did you try it? >> reporter: no. i want to go there t it is a great restaurant the founder said the mushroom dish that she apparently liked has been selling out early he says that they have been trying to have a very close and urgent discussion with the suppliers because of the supply chain issues of not getting mushrooms. >> eunice yoon, that is colorful

comments from you on that trip thank you very much. china producer prices falling for the ninth straight month in june. down 5% from a year ago. missing forecasts. the steepest decline since 2015. the country consumer prices unchanged driven by pork prices ofprices this is issuing the weak recovery and raising concerns of the health of the world's second largest economy deflationary fears. we have ben here with us with investments in airbnb and much more ben, great to you have here. >> thanks. >> let's talk about the inflation data coming from china. as an investor in china, what does that make you think about the recovery and investability of things there with an uneven recovery >> it is a challenge we have more to go in terms of

rebuilding the trust of the global investors we need a few more quarters of consistent growth. business friendly spolicy we are still not seeing the even recovery we need before global investors come back into the market in full. >> i want to turn to the tech sector metuan with the $1 billion fine for the a.n.t. group do you have the confidence that the crackdown may come to an end to put pressure on the chinese tech stocks? >> i think people have read into the alibaba options. most technology companies were facing those infringements investors were looking to alibaba. i predicted we would see an ipo toward q4 on the basis they

would move the antitrust regulations. >> ipo in q4 would you be confident to invest in it? >> in financial and alibaba is in a tough position with the anti-trust phase in china. i'm still fairly bearish on alibaba on the whole >> that is a no? the ipo happens and you you stay away >> it is not an asset class. we are private only. as an overall bellwether for the economy and name, it still has a monopoly on the key financial technology verticals in china. it is one that is exciting >> let's talk about the technology theme and come full circle eunice yoon talked about the janet yellen visit menu item aside. it was productive. they were looking for sincerity when the visit started

i want to state janet yellen's comments on the tech exports were narrowly focused in her mind what do you make of the trip what do you make of the designation of the narrowly focused when people seem to be concerned of the impact? >> the trip was generally positive, but fairly unr unrem unremarkable it was to open the dialogue with the officials across the economy. in the national security usual you -- security issues, what she said off the record was foreshadowing restrictions on capital bans and trying to narrowly defining those as national security implications those were contrary to what jake sullivan said when he talked about extending american and economic and ensure we assure that for the coming decade i don't think it is purely about national security. >> ben harburg, thank you for

being here >> thank you coming up on "worldwide exchange," we are live in lithuania ahead of the nato summit steve sedgwick is standing by with the report and agenda ahead for president biden and other world leaders. more "worldwide exchange" after the break. st wh ayitus

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in the summit in lithuania russia and ukraine are top of mind our steve sedgwick is live on the ground steve. >> reporter: good morning, frank. very important meeting to ascertain what is going on with the war and ukrainian counteroffensive and how nato and other military supporters help with the ukraine counteroffensive the other issue is the relationship with ukraine and nato ukraine wants membership united states, headed by joe biden, don't want to offer them membership yet the ideas are floated around one big question is around spending are nato members spending enough on defense and on the support for ukraine? i'll give you a shopping list o numbers. the u.s. is the biggest military spender on the planet.

it spends more money on defense than any top ten countries together china, uk, germany the other ten, they don't spend as much as the u.s. which spends $900 billion per year out of the nato spend of $1.2 trillion. they spend 75% of the nato budget are the members paying their fair share the kind of rule from 2006 was everyone spend 2% of gdp u.s. spends circa 3% the pols up to 4%. the germany are nowhere near this is by olof scholz talking about adding another 100 billion euro to get up to that key 2% level. the third part is what money is spend on ukraine you have financial aid and

humanitarian aid and military aid. according to the key institute, 165 billion euro has been spent on support for ukraine of that militarily, the u.s. has paid enormous. the amount of $46 billion u.s. dollars. that is a large chunk spent. where is the u.s. spending in weapons and equipment at $23.5 billion. grants and loans for weapons for $4.7 billion i'll breakdown the spend 10,000 armor systems and 3,000 missiles 165 howitzers. the next big spenders are uk and germany. frank. >> thank you, steve. time for the check on the headlines with jessica leyton in

new york >> frank, good morning a massive manhunt for a suspect who escaped from the warren county jail in pennsylvania. law enforcement offices are involved in this michael charles is considered dangerous and likely he is armed. a georgia may yor arrested n burglary the mayor of south fulton was charged with criminal trespass our atlanta affiliate said he i ordered for a mental health evaluation and thousands gathered to see elton john perform the swansong in the farewell yellow brick road tour in sweden. the legend holds the crown for the highest earning tour with billboard saying it grossed $900 billion during the 330-show run.

sir elton thanked fans saying it will stay with him forever i am now singing my own sad song. >> i'm not a big elton john fan. a legend sad to see him do his last concert. >> a storied career. >> jessica, thank you. coming up here on "worldwide exchange," the largest pension fund in the u.s. turning sour on u.s. stocks. we ask our panel of experts if you should, too. and roger ferguson is here teeing up the inflation data and what it means for jay powell and the policy playbook. stay with us don't miss it.

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xfinity rewards creates experiences big and small, and once-in-a-lifetime. it is 5:30 a.m. in the new york city area still a lot ahead on "worldwide exchange." investors kickoff the earnings season after a losing week the losses may roll on with the start of the new trading week. futures pointing to a lower open on top of the investors minds and jay powell's minds inflation data the federal reserve weighs to restart the rate hikes roger ferguson is standing by to layout the policy path forward. resuming talks striking canadian dock workers coming back to the bargaining table as they weigh action to get the goods flowing once again. it is monday, july 10th. you are watching "worldwide

exc exchange" here on cnbc welcome back to "worldwide exch exchange." i'm hollafrank holland. let's pick up with the dow the nasdaq tdown .30%. we are looking at the yields above 4% the 10-year above 4% 2-year close to 5% yield the energy market is a mixed picture. we're seeing wti and crude down. off their lows of early this morning when it comes to the percent decline. the prices are elevated. wti crude above 73%. brent crude $78 a barrel natural gas above 3% this

morning. time for the check on the corporate stories with silvana henao. silvana. >> frank, good morning the head of new york city's pension says it is planning to scale back its investment in equity markets speaking with the financial times, the cio said rising interest rates have changed the dynamic in terms of what you need to invest in. the $250 billion retirement system is one of the largest in the u.s. and it is reviewing long-term asset allocations for the five separate funds. he expects to see a shift from stocks to fixed income and high yield bonds and private assets and private credit and truck truck. tpg is buying a unit of software provider forcepoint from francisco partners. the buyout will pay nearly $2.5 billion for the business unit. that is more than double what

francisco partners paid in 2021. the journal says the deal could be announced as soon as today. and talks around the ongoing strikes with the canada west coast ports has federal mediators stepping in. coming back to the negotiating table over the weekend after talks broke down last tuesday. the canadian lawmakers are weighing a recall of parliament to weigh legislation to resolve the work stoppage. >> silvana, supply chain issues across the board and u.p.s. and union workers. we thought we were past this >> it is all back. >> silvana henao, thank you. turning attention now as the investors are reviewing the jobs data where the u.s. economy added 50,000 fewer jobs than expected that is a big miss

questions circling if the labor market can handle two more interest rate hikes this year. joining me now is roger ferguson former federal vice board chair. roger, good morning. >> good morning, frank how are you? >> great to see you. looking to see the cme fed watch tool a 90% chance of a hike coming up this month we had austan goolsbee on cnbc saying expect two more hikes it may not come in july of he believes we can achieve a soft landing with the two hikes. what is your prospect on the likelihood of hikes? >> i think the market is right more than likely, a hike this month and two more this year the labor market data was weak in the terms of the number of jobs created, but people

overlooked the hourly average number was relatively strong suggesting there is wage pressure that is what the fed is focused on i think they want to get ahead of that as much as they possibly can. two more and one in july. >> you are looking at the wage numbers and jobs report. the other thing people are looking forward to is cpi and ppi. i want to bounce this off you. the wednesday cpi report and in june of 2022, cpi was 9% forecast to 3.9% year over year. if we are below forecast, we are showing the audience a graph, does that change the likelihood of the hike at this month's meeting in. >> i don't think so for two reasons. first, if you look at the minutes from the last heating, there -- last meeting, there were a few members who thought they would go last time. secondly, the core inflation has

been problematicfrom the standpoint of the fed. headline inflation has been volatile and moving down, but the core has been relatively sticky that is what they are looking at that number for the core is in the 4.5% to 4.6% above the 2% target. i think things are set up for the fed to move even if we get surprisingly good news on the headline number. >> also looking ahead, earnings this week. a lot of big banks reporting anything in the reports that might influence the fed to not hike or maybe raise the hike i heard people talking about the possibility of a 50-basis point hike >> i think 50 basis points would be unlikely. not impossible that doesn't seem like the likely move this late in the cycle. as you point out, inflation has been coming down they want to make sure they see inflation coming down lower. vis-a-vis the question of bank earnings there is a question of banking

fragility following the crises this year. they will watch that closely in the state of the banking sector. >> roger, stay with us for a moment i want to turn our attention to the financial sector second quarter earnings kicking off this week. a new report live on cnbc.com laying out the landscape is on the cusp of a seismic shift. joining me now is hugh son good to see you. big banks down 15% is that the catalyst you are saying for the seismic shift >> good morning, frank great to be with you the stocks down since march. it is one sign of the pressure the industry is under. i think it is healthy to zoom out for a minute the history of banks in the country is periods of stability followed by periods of stress and consolidation. the fact is we are in the period

of instability right now obviously, we had svb collapse in march and things calmed down after jp bought first republic in may you will see signs of that when banks report this month. rates have climbed harder and faster than anyone experienced in four decades. probably not done rising yet as you have spoken about. commercial real estate defaults is coming. on top of that, regulators who were asleep at the wheel when it came to mid sized banks will look to correct errors with hindsight. we have a situation where most of the banks in the country will be under earnings stress for the foreseeable future it is happening when they cannot issue new stock because the long players are staying on the sidelines with the banks that has implications. there are about 4,600 banks in the country.

it is more than the rest of the g7 nations combined. one estimate from my story, that number will be cut in half over the next decade. 2,300 banks absorbed by other banks in the coming years of the most everybody i speak with thinks there is a wave of consolidation at some point. >> i think when silicon valley bank collapsed and banks acquired, i know some did not think that was the story hugh, stay with us let's get back to roger. a lot of people believing banks will be cut from 4,600 today to 2,300. what is your take? >> let me focus on the first part of what i heard him say with rising interest rates and uncertainty in commercial real estate, i think there is stress in the banking system that is yet to play out. i would observe and watch

closely the next several quarters to see how that unfolds. when i started thinking of banking situations in the country years ago, we had over 10,000 banks it would not surprise me to see continued con solidaconsolidati. the second question is how do regulators think about this? there is a concern of concentration in the small number of large banks and the health of the sector i think this notion of concentration may limit to some degree the ability to have as much consolidation as some of the observers are thinking about. >> hugh, over to you >> mr. ferguson is right in my discussions with the executives, they don't want to go through the trouble to go along and make plans for either acquisition or selling themselves without knowing it will go through. what they are looking for is clarity from regulators. from up top, secretary yellen

indicated a need for the smaller banks to scale up to consolidate to purchase each other to have a bigger revenue base to have expenses to adhere to the coming regulations. there is reason for optimism on the other hand, you heard from the doj talk about anti-trust concerns. it is still confusing. i think what resolves the confusion, gentlemen, if you see a couple quarters where the banks and regionals and smaller banks are under duress, there will be a groundswell for consolidation and that will start to happen. >> all right hugh son and roger ferguson, thank you for your time and insight. for hugh's story, go to cnbc.com. we look at london live president biden meeting with rishi sunak at 10 downing street

they will discuss a.i. and building the global economy. we talk to one company who is looking to tap into investment dollars with the u.s. and uk president biden and the uk prime minister more on "worldwide exchange" coming up. stay with us (bobby) my store and my design business? we're exploding. but my old internet, was not letting me run the show. so, we switched to verizon business internet. they have business grade internet, nationwide. (vo) make the switch. it's your business. it's your verizon. want more from your vitamins? get more with nature's bounty. from the first-ever triple action sleep supplement... to daily digestive support... to more wellness solutions every day. get more with nature's bounty.

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stocks you own we start with goldman sachs on nvidia bumping from 440 a share it has entered a new phase of growth of generative a.i shares down .50% we have another price target increase from morgan stanley on net netflix. it is bullish on netflix with disc discipline expense shares are down .50% a hat trick with upgrades. j j jefferies on tesla recent development on the shift for the ev maker with the autonomy standing out in terms of scaleability. shares down fractionally time now for the global briefing

a check on the headlines dominating conversations around the world. we start with data from china showing signs of post pandemic recovery struggles producer prices falling in june down 5% from a year ago. that is the steepest drop since 2015 we are sticking with china ant group with the surprise share buyback after regulatory crackdown appears to be over fintech valuing the company at $5.78 billion. 7% lower than the proposed ipo a look at shares of hong kong and here in the u.s. of alibaba which owns one-third of the ant group. alibaba down 1% here in the u.s. up 3% over seas revenue coming in at $15.3 billion. a 10% drop from a year ago

we stick with the action overseas president biden in london today meeting with the uk prime minister rishi sunak at 10 downing street the two men coming together moments ago. this is the first face-to-face with sunak since the meeting in washington, d.c. last month where they laid out a new a.i. declaration with the u.s. committing $17 billion in foreign direct investment in uk companies in a.i. initiatives. joining me now is the ceo of quantinex. good morning thank you for being here >> good morning, frank great to be you. thank you. >> give us a sense of the w broader picture. what is the cooperation with the u.s. and uk specifically on

a.i. what does that mean for your business >> if you look at the relationship with the uk and u.s. which is broader and greater than a.i., it is a relationship where two countries come together to infuse the best technology and data analytics. for me here at quantexa, when i started the company in 2016, a.i. and machine learning was at the core to everything we did at quantexa if it is allowing our clients to decide and act on data, then we review it. on the current market where a.i. is used by a number of clients, we are seeing this increase as the two countries work closer together >> the picture with a.i. startups like yours in the uk and we see open a.i. in the u.s. with $10 billion of invesinvestt how are you doing with raising money and scaleability >> i started in march of 2016

with the company since founding the company, we closed five raises the latest raise was the series e o e. we raised over $130 million. a lot of that investment we used in the round and subsequent rounds and going into the platforms and machine learning and a.i. plays a role. we have a number of clients and some of those you listed today we support over 30 of the top 50 banks when it comes to kyc and aml and fraud and data management we look to continue that in investment following the series e and better serving our clients. >> we are talking about president biden meeting with the uk prime minister a short time ago showing video of that. this agreement with the u.s. and uk, give us a sense of how it directly helps a.i. development here in the uk and we talked

about the transformation of a.i. what does it mean for risk assessment what does this extra money help you do >> great question, frank look, i think when we look at a.i. machine learning, we assure we are using this ethically and in a trusted fashion and more importantly, it is scaleable assuring all data points are used for decision making one area of the decision making is anti-fraud or credit risk decision or anti-money laundering this investment we are putting into your plans is to bring together the best of large language models. generative a.i. and open models when it comes down to large languages into a much more local environment for the large organizations. organizations regulated to ensure they are using the best

of a.i. ethically and trustingly across enterprise. >> vishal, thank you for being here we appreciate your insight >> thank you, frank. coming up on "worldwide exchange," the one word every investor needs to know today stocks facing a tough trading week where our next guest says he is finding opportunity during the market volatility. if you miss "worldwide voter ge," check us out on you fari podcast apps. more on "wex" after this break

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76% of 23andme health customers surveyed reported taking healthier actions. to guide you through a changing world. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. welcome back to "worldwide exchange." time for the wex wrap up we start with former at&t executive randall stephenson resigning from the pga tour

board over the public investment fund and chuck schumer calling on a probe into the high caffeine energy drink it was created by logan paul the financial times says the flaws within the payment systems allows criminals to steal several million dollars last year before the company could close the loophole and bt ceo philip jansen is stepping down. he is considering all appropriate dcandidates for the successor. and uber ceo sells shares of the company for the first time in over two years with the average price of 45 $45 a share.

silicon valley bank sued the fdic in the bid to recover the $1.9 billion the regulator kept since taking over in march citing a violation of u.s. bankruptcy law we are getting ready for the week ahead fed speech from michael barr and mary daly and loretta mester amazon kicks off the prime day tomorrow which runs through wednesday. on wednesday, key inflation data and june cpi and earnings season begins with reports from delta and pepsi and jpmorgan chase and citigroup and wells fargo on friday we have the start of evenings seaesand analysts are expecting companies to report a third consecutive decline in earnings with profits expected to drop from the same

period a year earlier. marking the steepest pullback from 2020. when the pandemic resulted in the 32% profit decline let's talk about the trading week ahead with simeon. >> thanks for having me. >> we have to talk about the third quarter decline. what does that mean for the market overall especially with tech and high value names being the driving force this year? >> we will very likely stable multiples. it is all about earnings long end of the curve is stable. that means it is all about earnings as you indicated with 3% down year over year the last two quarters in a row. maybe we do better than minus 7% that puts pressure on stocks. >> with the earnings season kicks off this week beginning, what is the wex word of the day? >> tech dividends.

i'm taking two words i'm sneaking in there. it is trading 30 times earnings and you think that is the place to get earnings growth tech earnings shank 1-- shrank 10% last quarter apple and microsoft are the easy ones visa, mastercard and broader technology move and some of the more stable longer-term companies like oracle and cisco. you don't have to flock to the high flyers to stay invested in technology 30% of the s&p you can't be completely out of it >> i'll run with that theme for a second where people can put money to work today in a week of volatility outside of the mega cap tech

trade, where would you put money to work today? >> on the stable core front, the thing that is left behind is dividends. beyond technology dividividendsp 500 is up 5% this is not bad, but left behind the s&p 500. that is a great place to look for stable earnings growth you have to find earnings growth >> do you see better price action in the second half of the year or a good investment with the dividends? >> the dividends which are a quintessential inflation hedge they are likely to show up in an earnings recession these are companies which grown in the last two quarters >> simeon hyman, thank you. >> thank you that does it for us on "worldwide exchange.

futures in the red as we have been saying all morning long something to watch we are talking about tech dividends. "squawk box" coming up right now. 76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. sleepovers just aren't what they used to be. a house full of screens? basically no hiccups? you guys have no idea how good you've got it. how old are you? like, 80? back in my day, it was scary stories and flashlights. we don't get scared. oh, really? mom can see your search history.

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good morning not a lot going on with the futures. the reaction muted today as investors brace for inflation data and the kickoff of earnings season we will tell you what to watch straight ahead treasury secretary janet yellen wrapping up her visit to china calling the meetings const constructive more on the progress with the china and u.s. relationship. the summer box office heating up with the "mission

impossible" franchise. i don't know if i would see that one. >> we just saw harrison ford >> that's what i mean. that didn't do well. >> i still want to see it. >> "barbie" and "oppenheimer." what a pair. it is monday, july 10th, 2023. "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc lift live from the nasdaq market site in sometimetimes square i'm becky quirkck with kernen the nasdaq down