it's 5:00 a.m. at cnbc global headquarters. markets coming off the best weekly performance of the year. key on the agenda this week, the jackson hole summit. two central bank leaders painting different pictures. bulling pulling back after snapping the losing streak announcing the biggest weekly gain in more than a year. following developing news

out of israel. secretary of state antony blinken on the ground trying to lock in a cease-fire deal between israel and hamas. democrats convene on chicago for the national convention as kamala harris' campaign preparprepares to shell out money ahead of the election. it's monday, august 19th, 2024. you're watching "worldwide exchange" right here on cnbc. ♪ good morning. thank you for being with us. i'm contessa brewer in for frank holland this morning. we are seeing quite a bit of red. now it looks like we are seeing some mixed performance here for the dow jones industrial average. it may indicate we have flat to slightly lower opening this morning. of course, markets are coming

off the solid week with the s&p up 4% and the nasdaq gaining a little more than 5%. let's get a check on the bond market with several pieces of economic data out this week. we have the fed's jackson hole summit as well. yields are lower this morning. you see the two-year falling to 4.043%. getting a check on oil as we monitor the latest developments with not only the middle east peace talks and concerns of chinese demand right now. oil is off .50% for wti. brent is down .50%. they had 2% gains on friday. asia pkicking off the week n a good note. jp ong in sing mapore with the asia check and dan murphy is in

london. jp, let's start with you. >> reporter: contescontessa, it always a tough act to follow with the major indices here unfolding because of a number of reasons to be cautious. you are seeing the gains. there is the lowering of the prime rates. the pboc has surprised as they did in july with the surprised rate cuts. we will see if that unfolds tomorrow. until then, nobody taking any risks in greater china. we have australian markets. australia is one of the biggest supplier of commodities for chinese industrial activities. we did see diamond and iron ore here. you see rio tinto closing out in the red in australia.

in korea and japan, we saw them record losses. kospi falling days before they will make the policy decision. the nikkei 225 giving the strength of the yen. keep in mind the surge making it one of the biggest gainers in tokyo. contessa, thank you. >> thank you, jp. let's get to dan murphy in london with the early trade there. hi, dan. >> contessa, hi to you. jp flagged the mixed lead from asia. when you pull it back and see how stocks are trading here, you can see london's ftse is pulling back 2%. we are seeing the major markets not really catching too much of a bid here. perhaps just taking a breather and maybe taking their foot off the accelerator after a pretty

incredible resilient streak for the stocks. european equities closer higher on friday rounding out the winning streak after the significant bout of market vol volatility. i wanted to flag the losses on xetra dax here in london. 0.9% to the down side. that is because we are seeing significant losses for the defense stocks. when you pull it out and see how the sectors are moving, stocks in germany are moving on the headline that berlin will limit military aid to ukraine due to budget restrictions. we have seen defense stocks selling off across the region. right here, basic resources is leading the gains up 1.2%. industrials leading losses down .33. contessa, back to you. >> dan, thank you very much. let's get a check on the top

corporate stories with bertha coombs. good morning. >> good morning, contessa. more than 17,000 at&t an workers across the southeastern u.s. officially hitting the picket lines. the union representing the workers is accusing the company of not bargaining in good faith and sending negotiators not having authority to make decisions. the striking workers are technicians and customer service representatives and wire installation workers. meanwhile, the union representing workers at canadian pacific kansas city has served a railway strike notice. they could be off the job at midnight on thursday. it intends to lock workers out at the same time unless an agreement or binding arbitration can be reached. both work stoppages would

involve 9,000 workers at two railways. san francisco bank chief mary daly telling "the financial times" she believes the fed needs to take a gradual approach to the lowers costs. the recent economic data have given her more confidence that inflation is under control. she pushed back on economists concerns that the u.s. is heading for a sharp slowdown that would need rapid rate cuts. meanwhile, chicago fed president austan goolsbee says it is not a guarantee the fed lowers this fall. >> i don't see tying our hands ahead of time when we got a lot of data coming in and everyone on the committee is going to speak their peace and it is a committee decision. >> goolsbee and daly's comments coming ahead of the fed's jackson hole summit later this

week. contes contessa. >> bertha, thank you. goldman sachs is lowering the odds the u.s. will slip into recession next year to 20% from 25%. goldman raised the forecast earlier this month after unemployment jumped to the three-year high in july. in a note in weekend, chief u.s. economist says goldman changed its stance mainly because of the economic data in august, cpi and jobless claims, showed no sign of down turn. if the august jobs report is good, he would cut recession odds further. joining me now is robert teater. robert, great to see you. do you concur with jan? >> i do. we have been of the mind that the economy is headed back to long-term 2% growth rate. we see continued gains in payroll. we are adding to payroll.

everything points to 2% economic growth for the foreseeable future. >> i know the jobs report is taking on a lot of speculation and a lot of the spotlight right now. between now and then, is there anything that you are looking for to really influence your investment strategy for this quarter? >> well, the fed meeting coming up later this week is incredibly consequential for investors. it is telegraphed the rate cuts are coming. the question is how much. the fed has been tolerant of a weaker economy and unemployment that we have. if you are looking for a quick fix here, the fed will be much more patient than that based on historically with the level of economic activity and inflation.

>> do you think the rate cut in september is a done deal? >> i think september is probably a done deal. we'll find out later this week as they telegraph their path and really give us the framework. there are a lot of justifications of 25 basis points. they have to remove restrictiveness from the economy. we look at where fed funds rates are. the fed is restrictive. they have to outline that path at the same time making it clear they are not concerned about the economy. it is a tough message. one that we think they will deliver clearly later this week. >> given that economic outlook, set us up for the trading week ahead as we kickoff monday. >> we think there's volatility in the months ahead mainly because everyone, including the fed, will be data dependent. each data point that comes out will swing wildly one way or the other. with that back drop and that

slow economic growth, we like sectors that can control their own destiny mainly through the form of margins. >> given the rally last week, best week for stocks this year, will you be making changes in your immediate investment strategy to account for that? >> not in the immediate future. it's an environment where we think investors have to be somewhat patient. the underlining economy and earnings picture will deliver, but there will be volatility around valuation triggered by the inflatection point of the f policy. many are struggling to see what that looks like in the months ahead. we think steady as she goes in terms of the economy and earnings is the back drop we are looking for in the months ahead. >> robert teeter, thank you. >> thanks, contessa. ahead on "worldwide exchange," one word for investors kicking off this monday with the spotlight on jackson hole and markets counting on the federal reserve rate cut in september,

anticipation is mounting. hold on to your horses. some say the rate cut is not a done deal. plus, what a bounceback. nvidia shares coming off the best week in more than a year. can the stock keep up a rebound? later, up wonyou won't want miss the ad blitz in key states as democrats kickoff their national cveonntion. a busy hour ahead on "worldwide exchange."

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wall street coming off the best week since november. multiple sectors caught the good vibes, but one of the standouts here, nvidia, the a.i. darling soared more than 15%. that breaks a four-week losing streak and pulls the chipmaker out of bear market. despite the volatility, nvidia is still up 151% this year making it the best performer in the s&p 500. let's talk more about it with matt bryson at wedbush. when you look at not just the incredible bull market that nvidia has been in, then the decline, and this rapid turn around, what is fueling this stock? >> yeah, i think what's fueling it is there's still a ton of

spending on the a.i. chips that nvidia makes. i think the down tick concern of the spending money to date. also, they might have issues with their next generation of chips and i think the recovery has to do with a lot of recent data points suggesting that spending on a.i. just isn't slowing. >> can you point to a catalyst in particular? >> certainly foxconn last week. they came out and said things are going really well and the rest of their year looks great and a lot of that is being driven by a.i. servers. they are nvidia's largest partner on the blackwell chips. beyond that, you go back a bit. super micron. they had a tough quarter, but sales why great and guidance was

great. >> you mentioned the blackwell chip. there's been concern about that being dedelayed. does that matter to the overall growth narrative for nvidia? >> i think in the near term, it certainly doesn't. if i look at last quarter and this quarter coming, i don't think blackwell would be a large revenue moving forward. moving forward, they have to make sure they execute and make sure delays are minor versus major. you certainly don't want to see a repeated problem, but they executed so well. if they are on track from here, i don't think it matters. >> when you look at the broader land l land landscape for the chips, i see the green flags in some of the other companies in the space. can you talk about what's ahead for the sector and which companies in particular you

like? >> yeah. certainly everyone is committed to spending on a.i. through the blackwell launch. you've got another year plus of, i think, elevated a.i. spend. i think that drags a lot of companies along with it so it is not just nvidia, but tsm on the fab side and it's the memory makers. you need hbm to support the new chips. that helps out micron. you need more storage. a.i. creates data. that helps out companies like western digital and seagate. so, a lot of the boost right now is around the a.i. complex where you may get another pickup next year is if we do see a.i. proliferate in edge devices, that requires more content. that benefits a lot of semiconductor world.

>> nvidia stands right now in extended trading at $122.90. it looks like its dropped off by one-third in extended trade. would you still encourage your investors who look to you to get in now? >> i still have a buy rating and i think we get another quarter from nvidia that is another beat in raise. they have been doing it consistently. there just doesn't seem to be any change in momentum from their customer base. >> matt bryson, thank you. i appreciate your perspective. ahead on "worldwide exchange," secretary of state antony blinken is on the ground in israel pushing to get a cease-fire deal in place. we'll have the latest on whether talks will yield a cease-fire when "worldwide exchange" returns. ( ♪♪ ) sometimes, all the tenacity and grit in the world... ...can't overcome the boundaries we face.

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welcome back. secretary of state antony blinken is on the ground in israel this morning to try to broker a cease-fire. the u.s., egypt and qatar are pushing to an end of the fighting in georgaza. dan murphy joins us again from london. i know you have been following the latest, dan. >> prime minister netanyahu and his defense minister are meeting with secretary of state antony

blinken today. we saw pictures earlier today of the secretary of state standing along herzog. he said this week may be the last opportunity to end the fighting and avoid an escalation. we saw president biden on friday about the prospects of reaching a deal. he stopped short of the details of the progress of the talks. we now the negotiations paused on friday. negotiators are set to meet again this week. we confirmed that hooamas officials are being briefed by qatar officials. we agree there is more divide that you unites the parties. peace is only possible if hamas is destroyed and hamas saying it will only accept a permanent

cease-fire and not a temporary one. prime minister netanyahu speaking on sunday saying israel must uphold principles vital to its security and not looking to budge any time soon. talks are continuing. more divides than unites at this point. it could be a testy week ahead. contessa. >> meanwhile, we are watching the oil markets. wti and brent down slightly after the rise on friday. how much is riding for the oil markets on what happens in the middle east? >> well, this is the question we have been asking analysts the past dcouple weeks as we monito the situation in the middle east. what is the geopolitical risk? they are monitoring any impact on oil supply and the risks emanating from the talks. the risks and worst-case

scenario is a hit to the oil supply in the region that could impact output. what we see right now is oil prices actually trading lower. wti futures falling sub-80 usd. also brent below 8100 usd. the catalyst according to the analyst, is the demand side. the demand concerns from china. you remember opec and iea cut the 2024 oil demand global forecast based on that weak chinese data. china being the world's largest oil consumer. demand concerns clearly outweighing the geopolitical risk, contessa. >> dan murphy in london, thank you for that. let's get a check of the headlines outside of money and business. richard lui is in new york. nice to see you.

>> contessa, good morning. great to see you. a week of dangerous and severe weather across the united states, contessa. across the east coast, beaches were closed as ernesto is now a hurricane again. the tropics have a trail of destruction and bermuda and puerto rico dealing with clean up as well. former congress member george santos is expected to bl plead guilty today relating to campaign fraud. he was set to go on trial in less than one month. he pleaded guilty to all chargecha charges. "indiana jones" fedora sells for $630,000. contessa, big money for that hat. >> that's like almost into crown

territory. thank you. coming up, grappling with the rapid rise of fear in the markets. a whipsaw action facing sentiment this month and how the fed could complicate things. if you haven't already, otape our podcast on plor spify or other podcast apps and we will be right back. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance.

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morning in new york. we have a lot ahead on "worldwide exchange." here's what's on deck. the fed heads to jackson hole and two leaders paint a different picture on the possibility of a rate cut. that will fuel market action this week as the s&p is coming off the best weekly performance of the year. futures are pointing to pressure at the open. the harris campaign gearing up for a big spending spree on advertising targeting voters in battleground states as democrats convene on chicago for the national convention. we're live in the windy city. it's monday, august 19th, 2024. you are watching "worldwide exchange" here on cnbc. welcome back to "worldwide exchange." i'm contessa brewer in for frank

holland this morning. let's pick up the half hour check on the u.s. stock futures right now. we're seeing a bit of a mixed bag with the s&p 500 slightly in the green. the dow jones slightly in the red. the nasdaq slightly in the red. we're in shape for a flat opening. let's get a check on the bond market with several pieces of economic data out this week. of course, the fed's jackson hole summit. the two-year treasury yield down to 4.047. the ten-year yield down to 3.865%. let's look at oil that we are monitoring with the middle east peace talks, but also and perhaps more importantly, concerns around chinese demand. oil up 1% w. when we are looking at wti. the big event for the markets this week is the jackson hole

summit. c chairman powell and company convening. ahead of the gathering, san francisco bank chief mary daly told "the financial times" she believes the fed needs to take a gradual approach to lower rates. chicago fed president austan goolsbee says it is not guaranteed the fed will lower rates this fall. >> i don't think it's a certainty and i don't like, as you know, tying our hands ahead of time and everyone gets to speak their peace and a economy decision. >> to goolsbee's point, the fed has inflation points and several labor reports and another look at retail sales before its september decision and there are questions if the central bank

will carry out a 25 or 50-basis point cut or, perhaps, as goolsbee indicated, it is not a done deal for any. let's bring in rachel siegel for the washington post. this week, rachel, we have jackson hole and the all-important speech by chairman powell on friday. how much can powell say without tipping his hand too much about what's coming down the pike and leaving room for decision making? >> powell is just exceptional at the balance. he uses his jackson hole speech to zoom out of it and give a high level forecast for where the economy is headed and sharp diagnosis for the inflation fight. the challenge this year is not only recap that progress, but give as clear as a signal he is going to give moving into september. you mentioned different remarks from various bank presidents.

he will set the tone or expectation for what we will have in september or maybe later on in the year. with the caveat that he wants to leave the door open. there's a lot of data still to come and he will not put himself in a corner by any means. >> you have experts say you cut for two reasons. you cut because inflation is still rising or -- not cut. inflation has fallen to your target or because there is still a real concern about recession and we're not seeing either one of those factors. why do you think there's such pressure on the fed right now about cutting rates? is it simply because we have seen them high for this long? >> i think there are a few things going on. as you said, rates are still very high. they remained high when we are starting to see other parts of the economy slowdown. you will hear fed officials talk about this growing risk between keeping rates too high for too long and having that come with

other consequences that you start to see the economy cooling in areas that have been able to stay very strong. as you have inflation cooling and reliably cooling closer to the fed target, you see the job market slow. there are concerns that consumers will yank back. the thing is we are not seeing that. when those things tend to get a little bit more serious, it can happen very quickly. the fear is the fed will fall behind the curve wnonce again a all of a sudden, the job market explodes too much and they will still have rates at the elevated level when they made progress on the inflation fight. >> in fact, the july jobs report is what spooked the markets and gave economists pause and concern. when you look at beyond labor, if you look at housing, we're seeing that housing construction starts and permits hit a

four-year low in july. we have seen wage increases, it's not really -- it's just barely above what inflation is .7% faster than inflation. with imports, we're still seeing quite a lot of inflation. do you have a sense of how much that data outweighs other more headline grabbing data like cpi or jobs report or pce? >> you know, the fed press corps is trying do get owe furofficia to say what is on the dashboard? what is the most dealing about the economy? their answer is all of the above. they are not only focused on cpi or pce, but the current state of the economy and progress of inflation and need to keep a really close on as you said housing and job market and i am pover imports. the challenge is what to make of it. s do you go by a certain

indicator in september? do you spread out the rate cuts? do you signal everything is fine? these are all questions that come down to fed chair powell's speech on friday and plenty of analysis to come afterwards. >> what is your sense the august jobs reports we will get at the beginning of september outweighs other jobs reports that we get throughout the year? >> i think it will get a tremendous amount of attention because of the emphasis of what makes a trend. the july jobs report was discouraging and scary and setoff a panic in the markets. will it end up being one report or ea series of reports that th labor market is slowing and the fed is falling behind. we have had similar reports with a bad one and it was unclear and how much it would tell you about the future. i think for all of the reasons, a lot will ride on the august

jobs report, especially since that will be a key piece of information before fed officials gather in september and as they are thinking about what rate cuts will look like for the rest of the fall. >> rachel siegel, thank you so much. >> thank you. coming up, no appetite for shake shack. the bearish call out on the popular burger chain. 'lha iwh "rlide exchange" returns. thing, but sometimes it can start to slow down. but did you know prevagen can help keep your memory sharp? the secret is the powerful ingredient, apoaequorin, originally discovered in jellyfish and found only in prevagen. in a clinical study, prevagen was shown to improve memory in subgroups of individuals who were cognitively normal or mildly impaired. stay sharp and improve your memory with prevagen. prevagen. in stores everywhere without a prescription.

good monday morning. it's 20 minutes until the top of the hour. here's a live look at chicago where the democratic national convention kicks off today. it's the convention for the democrats with president biden scheduled to take the stage and podium to speak to the delegates. welcome back to "worldwide exchange." let's get to your call sheet. piper sandler downgrading shake shack. shares unchanged in the morning trade. piper says menu pricing for the chain will get harder moving forward. morgan stanley downgrading hp to equal weight. it sees limited upside to valuation with the limited pc market recovery priced in.

shares are down 2%. td hiking the target on s snowflake. td see solid numbers, but it is releasing its report this week. time for the global briefing. rail shipping could come to a halt in canada this week. the country's two largest railroad operators are issuing lockout notices to the teamsters yesterday. without a deal, canadian national and kansas city will face a lockout. the first time they will face a stoppage from the railroad companies. what we hear from the teamsters is the operators changed the contract unilaterally. x is closing operations in brazil effective immediately due to censorship orders.

the judge secretly threatened to arrest one of the brazilian lawyers in it did not comply with an order to remove some content. the supreme court told reuters it would not speak on the matter. shares of seven & i holdings, parent company of 7-eleven sees a takeover bid from circle k stores. ahead, what every investor needs to know today and the harris' campaign takes a blitz on the ad campaign for battleground states. the big push as the democrats kickoff their convention and we will be right back. lled with it. wasted time, inadequate resources.

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monday morning, august 19th. there you are seeing the futures. a bit mixed, but basically flat. we are seeing bouncing back and forth from red to green. s&p 500 off .10%. you see u.p.s. and estee lauder and moderna. back and forth with the graphics

there. you are seeing u.p.s. up 1.5% and estee lauder and moderna. vice president kamala harris' campaign will spend $370 million on tv and online ads in key battleground states between labor day and election day. they kickoff the democratic national convention in chicago today. we have megan cassella joining us live from chicago. megan, what are you expecting? >> reporter: good morning, contessa. it will be a big week in chicago. tens of thousands of officials and delegates are waking up to kickoff the party 's convention later today. all of the action will take place in the arena behind me, the united center, which is home

to the bulls and blackhawks, but tonight is home to the speech of president biden. we have two former presidents, obama and clinton, and former secretary of state, hillary clinton and governor tim walz and harris speaking this week. democrats are treating this as a celebration and introduction to the new ticket. there are questions over the policy agenda. overnight, the party did release the 92-page platform. we have seen one set of propo proposals from harris herself focused on lowering costs and released on friday. we have seen a lot of reaction to the plan. the editorial board criticizing harris for it saying the food industry was a populist gimmick. trump at the rally on saturday, was attacking harris on the plan. he says she should have done that when she entered the white house three and a half years

ago. trump and jd vance will counter the dnc all week with rallies across the country in battleground states in pennsylvania. we will keep an eye on those. the harris campaign is criticizing the tariffs proposal and trying to return the fire and giving us a flavor, contessa, of the back and forth that we're expecting to see all week long. contessa. >> it is interesting in an athletic arena as many conventions are, but politics has become contact sports. you have kamala harris so suddenly thrust into the limelight and tasked with making the priorities of the party clear and of her campaign. 92 pages is a lot. it seems like the democrats need an editor. do you think there will be more pressure on the vice president to outline her economic policies this week? >> reporter: definitely. we do think we might start to see just a few more details in

her thursday speech or surrogate speeches throughout the week on the economy itself. what i think is so interesting about this convention is one month ago, it was meant to be president biden's convention. the speech was all about president biden and his pluspl accomplish thes and what he would do in the second term. that had to be undated. there will be a lot of observations and focus on where and whether she starts to distance herself from the biden agenda. she doesn't want to separate herself too much, but one reason why the voters are warming up to her is because she has the ability to separate herself from the biden economic agenda. there has to be some daylight there and we'll be watching to see exactly what that is. >> it will be an exciting day in chicago. megan cassella, thanks for kicking it off with us. coming up, a return of fear in the markets. the key event our next guest says could rattle investors'

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bring on the good stuff. welcome back to "worldwide exchange." time for the "wex wrap-up." goldman sachs trimming the odds

the u.s. slips into recession in the next 20 years. data suggesting no signs of a downturn. secretary of state antony blinken is in israel this week to push for a cease-fire on the war in gaza. he is meeting with prime minister netanyahu this morning. and more than 17,000 workers at at&t are hitting the picket line. they accuse the company of not b bargaining in good faith. and "alien romulus" dethroning "deadpool & wolverine." it pulled in more than $40 million in the debut. "deadpool & wolverine" coming in second place notching a win for

20th century studios. clearly, i did not get to the movies this weekend. look for weekly mortgage apps and existing and new home sales. lowe's, target, macy's and tjx reports as well as toll brothers and palo alto networks and the minutes from the last month's fed meeting as the central bank holds the retreat at jackson hole with jay powell speaking friday. the democratic national convention kicks off in chicago today. vice president kamala harris speaks on thursday. plenty for investors to navigate in the week ahead. let's look at the trading week. futures are mixed right now. we could have a flatish opening. the s&p 500 is in the negative. the dow jones in the positive. for more on the trading day ahead, let's bring in gunjan

banerji. a new piece titled "utit's a bu market for fear." if you look at what the markets are doing last week, it didn't look like a lot of pervasive fear. >> good morning, contessa. it is remarkable how we have gone from panic and fear to all is well out there. we have seen a record jump in volatility bets this month. people are turning to the trade if the market volatility continued. more than 1.5 million options trades tied to the vix have changed hands on the average day this month. now that's the highest level since february of 2018. >> vix is the volatility index. does this mean that investors are betting on a choppy market to come? >> so, that was the hot trade this month. people were saying the vix jumped to 65. stocks had one of their worst days of the year. they were saying we think the

turbulence was going to continue. we saw a reversal and people pulled back and once again people betting the stocks would come up and volatility would come down. that is the so-called short vol trade that rapidly came back en vogue last week. >> how much does what happens at jackson hole and not just the fed chair adept and sophisticated speaker, and others talking on the side, how much will that influence the action we see in the market this week? >> i think that plays a big role. i think what might even be more important to watch is clues on the u.s. consumer. we saw walmart's ceo and those numbers assuage the market. >> can target turn that around

if target has earnings that don't match what walmart did? will we see a sudden fear reinjected into the markets? >> i think what targets says and macy's says and dollar tree says about the lower-income consumer and which price point people are going to could be important. i think how quickly markets went from panic and fear to everything is okay shows you how fragile things are at the moment and how people are on edge about the economy and consumer. >> we are expecting housing data this week as well. how much do these data points matter? fed chair powell says it is data, not data points that matter to the fed decision making. >> it feels investors are glued to every single morsel of data out there. that is key to watch whether it is housing or earnings or whether it is powell's speech. people are really glued to every single morsel out there. it will be a really interesting trading week.

>> we heard other guests this hour, but keeping your seatbelt locked in. gunjan, thank you. >> thank you. let's look one more look at the stock futures this morning pointing to a mixed or flat opening this morning. in the meantime, i'll get to my friends kelly and mike and joe kernen on "squawk box" which begins right now. good morning. stocks coming off their best week since november of last year as we now prepare for the fed's jackson hole symposium and some key retail earnings. canada's two largest rail companies moving closer to a lockout after an failing to come to agreement with the teamsters. we have the democratic national convention kicking off today. we bring you the coverage. i'm the only one here that remembers the last one there which had some crazy stuff going on.

i think they got it ready to go this year. hopefully you can't get nearly as close to the place. we will talk about the harris economic platform on this monday, august 19th, 2024. "squawk box" begins right now. ♪ good morning. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm kelly evans along with joe kernen and mike santoli this morning. andrew and becky are off today. futures are mixed at this hour and that comes after the best week of the indices since november of last year. last week, the dow was up 3%. the s&p nearly 4% and nasdaq up 5.3%.