carl quintanilla has this report >> reporter: on a factory floor in wisconsin, juul labs runs a productione day and night filling some of the 60 million pods in the u.s. every month ceo kevin burns has opened his doors to us, aware of the firestorm his product has ignited among families >> if we did this tour with a family of a teen who was using or addicted, how would you defend this? >> first of all, i would tell them i'm sor child is using the product. it's not intended for them as the parent of a 16-year-old, i'm sorry for them and have empathy for them, knowing the challenges that they're going through. >> reporter: in the face of public pressure, jones has removed some of the flavors, shrink its social media imprint and revamped a campaign that critics say was aimed at kids. >> ads were targeting young people lots of bling, music >> reporter: the latest campaign is focused on adult smokers, trying to escape the risk of lung cancer. >> it was a friend of mine who said why wouldn't you just try the juul. >> reporter: but researchers have the impact of chronic vaping a study says they s

congratulations on a great documentary. >> thanks, jim >> this is tonight, my colleague, carl quintanillawhose new documentary "vaporize: america's ecigarette addiction" premieres tonight 10:00 p.m. eastern on cnbc. i hope i can get a roundtable. i was so incensed by this that i was shaking, i was shaking after i saw it "mad money" is back after the break. >> announcer: lightning round is sponsored by td ameritrade ♪ >> it is time lightning round. >> buy, buy, buy >> sell, sell, sell. and then the lightning round is over sandy! >> caller: how is it going, jim? >> all right, how about you? >> caller: good. i'm from earthquake, california, boo yah. my sister just got married, i was think being getting her into mrvl, marvel is it a good time? >> it is it reinvented itself and it wins with huawei. buy, buy, buy. aaron in ohio. aaron? >> caller: hey, cramer >> yeah? >> caller: first i'd like to say hi to my friends bill and barb who introduced me to this great show >> hello >> caller: i wanted to ask how you felt about general motor stock. >> i do not like anything. it's auto. i see my friend

i'm carl quintanilla with sara eisen. david faber has the morning off. the record highs we set this week, s&p above 3k, dow above 27k. we switch our focus from powell to earnings next week. in a few moments we will hear from the president the labor secretary acosta is resfwlieng the president is talking about it right now we will get comments and pictures and bring them to you as soon as possible. >>> our roadmap for the hour though starts with another day, another record high. the dow, s&p opening the fresh intra-day highs. are investors ignoring economic rip current? >> bitcoin and lgbt gettiibra gg attacked who the latest person is to jump on the bashing bandwagon. >>> as we mentioned, record highs, wrapping up a historic week with the s&p 500 crossing the 3,000 threshold. the dow hitting 27,000 this as investors continue to monitor trade concerns with the president tweeting this morning, quote, when you are the big piggy bank that other countries have been ripping off for years to a level that is not to be believed tariffs are a great negotiating too

i'm carl quintanilla with jim cramer and david faber at the new york stock exchange.es look better than they have looked all week as microsoft comes through with solid earnings and hopes for a rate cut are back despite some confusion. europe is mixed. ten year, 205, the president resumes his criticism of the fed on twitter calling their thought process faulty road map, microsoft's monster quarter. cloud business up 39, driving record sales for the most valuable company. >>> and boeing's billions, it is taking a $5 billion hit in the second quarter due to the worldwide grounding of what was its best-selling plane ever. >>> and rate cut optimism. stocks on track to open higher but on pace for worst week since may. >>> microsoft on track to open at a record high, market cap above a trillion dollars quarterly results beat expectations on cloud strength here is nadella on last night's conference call. >> our commercial cloud business is the largest in the world, surpassing $38 billion in revenue for the year with growth margin expanding to 63%. i'm proud of what we have ac

i'm carl quintanilla live with the new york stock exchange. david has the day off. e recovering some. let's get to rick santelli. >> all right i'll tell you what, carl, i really get surprised with the confidence number. this one is surprising our july read on consumer confidence from the conference board expected to be 125 yeah, add more than 10 135.7. that is you have to go all the way back to november last year when it was 136.4. the month before that, october was 137.9. that was the best september since 2000 this is a dramatic jump on consumer confidence. you see it on every metric present situation leaped from 162.6 to 170.9 expectations, what's ahead, from 94.1 to a current read of 112.2. these are humongous. by the way, late revisions coming in, 121.5 from june of last month gets upgraded to 124.3. these are big revisions. now, on pending home sales for june, we're going to turn to diana olick. diana. >> a nice beat pending home sales 2.8% up in june compared to may, 1.6% higher annually that finally breaks a losing streak year over year. sales had been lower f

i'm carl quintanilla with deirdre bosa

i'm carl quintanilla with morgan brennan. getting crushed after posting weaker than expected sub numbers this is reed hastings on the call last night. >> we're having a lot of new competitors enter over the next year and i think our position is excellent. we're building amazing capacity for content. our products have never been in better shape and our rate of investment is extremely high so if investors believe in internet television, which i think is an easy one to get there, then our position in that market is very strong. >> cowan's john blackly with us along with lee horowitz to talk about a story where investors aren't -- is this part of the normal post-print volatility or is it something different this time, lee? >> obviously, it was a big subscriber miss in the quarter and it brought about

carl quintanilla looked into that controversial issue ae sp with executives at market leader juul labsbout the popularity of their product among adolescents. >> it felt like we were smoking. it was cool. >> reporter: grace debono is a high schl senior from bloomfield hills, michigan who was 14 when she started vaping. but it didn't become a habit until the start of 2017 when she got her first juul. >>we w to a gas station, and my friend already bought one from the same gas station. so was like i'll just go in and get it for you. but we were 15. >> she went in. >> and came out with two jus. >> 'twasn't long before grace was addicted. >> it would abls in my hands. it would always be with me. you know? so i would always hit itecause it was just so easy. >> reporter: grace was part of an adolescent phenomenon. between 2017 and 2018 e-cigatte use increased by 78% among high school students and 48% among middle schools. by the end of 2018 more than 3.5 million american kids were vaping. juul is i fraction of the use of vabor products by minors. i think we getth a lot o attention and criticis

i'm carl quintanilla, morgan brennan, jon fortt, a busy day with the fed, but of course apple is the the morning at least shares are up after posting strong revenue growth again seeing another quarter of weak iphone sales apple's ceo spoke with our own josh lipton on the quarter, and josh joins us this morning from san francisco to talk about that conversation hey, josh. >> reporter: so carl, apple beat expectations and projected revenue for the current quarter that also bested forecasts iphone revenue did drop 12% to 26 billion still, that was an improvement from the march quarter which cook attributed to new trade-in and financing programs and recovery in china. on the subject of trade tensions with china, cook saying i think it always helps when the

i'm carl quintanilla with sara eisen at post 9 of the new york stock exchange obviously, big week forof the s&p coming in the next five days we are getting a taste of it right now. >> our roadmap for the hour starts right there the busiest week of earnings facebook, amazon, alphabet, boeing, caterpillar among those set to report. what investors should be looking for next. >> plus, eqiufax's data breach settlement the news conference kicks off in a few moments. >> and former mcdonald's ceo ed renzi on his thoughts on food stocks. >> the markets investors get ready for the biggest week of earnings mike is looking how some of them may be overpaying for so-called certainty this quarter >> yeah, carl, it seems like the right time to be asking that question, whether investors collectively are putting a little bit too much of their bets in terms of perceived certainty. i would put it that way. nothing, of course, is certain within the stock market here the s&p low volatility, etf, this is basically a subset of the s&p 500 with the stocks that exhibited the lowest volatility, it tracked the m

i'm carl quintanilla with jim cramer, david faber at the new york stock exchange.er morning of minimal premarket volatility as earnings roll on with b of a, csx, goldman cut league tating retai sell yields do drop as housing starts fall for a second month. road map begins with big techs international head winds amazon, the latest in the eu cross hairs, facing a probe over possible anti-competitive business practices. >> plus, ralph lauren and le le strauss in the red, both downgraded to sell at goldman sachs. >> and a tariff fueled strategy shift. apple reportedly set to begin trial production of air pods outside of china and into vietnam. another case of big tech under international scrutiny amazon facing a formal eu antitrust investigation into its dealings with third party merchants. european competition commissioner margaret says based on the commission's preliminary fact finding, amazon appears to use competitively sensitive information about marketplace sellers, products and transactions on the marketplace and response amazon issued a statement saying, quote,

i'm carl quintanilla with morgan brennan. dre deirdre is here. to have some news and he has it now from chicago hey, phil. >> reporter: hey, carl we're still going over the numbers that we got here, but the most important information, the one that people are most focused on, whether or not boeing secured any firm orders for the 737 max in

i'm carl quintanilla with jim cramer, david faber.i looking good, plenty else this week with powell on deck. tech companies on the hill soft china gdp number getting the president's attention. europe is green and oil is up a quarter this morning road map begins with wall street's record run, stocks poised for renewed gains of the open as citi unofficially kicks off earnings season. >> trade war slowdown, china posting the lowest quarterly growth in 27 years >> and silicon valley tech lash from one of its own, peter teal calling out google, alleging, quote, seemingly treason ous acts we'll begin a new week, stocks on track to hit fresh record highs. citi kicks off earnings season with better than expected results held by gains and consumer lending also in focus, china, slowest economic growth in 27 years in q2 gdp at 6.2 for june, industrial production, retail sales, fixed asset investment all beat expectations, leading some guys to think maybe the central banks work is starting to filter in. >> i think so. the bears have the work cut

we are live from the new york stock exchange carl quintanilla has the day off.tock market, by the way, set your watch, going to close at 1:00 p.m. eastern, due to getting an early start on the independence day holiday look at futures as we get ready for an open 30 minutes from now. we're looking up, but u.s. equity futures, what we are talking about, 2% or so. we had that quiet session yesterday. but we did see the s&p reverse earlier losses closed at a record high. that's kind of where our road map starts as it often does investors shrugging off global growth concerns. stocks set to rally at the open. and records still within striking distance. plus, broadcom eyeing symantec, my reporting added to bloomberg yesterday which broke the story. >> and mine. >> and jim's give you more details. and pot shake-up, bruce linton out, telling cnbc he was fired from the world's largest publicly traded cannabis company. somewhat extraordinary. >> no. >> wait. having him on talking about being fired. >> want him back >> all right let's talk about stocks. looking to set a new

i'm carl quintanilla with sara eisen, david faber at the new york stock exchange.mer has the morning off this is one summer friday you can't afford to miss earnings from twitter, mcdonald's, amazon, google, intel, starbucks, we'll hear from the ceos of the last two later this morning on cnbc futures do look to bounce off the thursday sell-off. europe is mostly green our first look at q2 gdp up 2.1, better than sxiktestimates. road map begins with slowdown concern, tariffs and decelerating global growth weighing on the economy in q2. top white house economic adviser larry kudlow will join us first on cnbc. >> we have investors buoyed this morning by strong earnings from tech giants such as alphabet, twitter, and intel all of those stocks pointing to a higher open. >> and starbucks rallying as well as sales surge. the coffee retailer raising its outlook. kevin johnson joins us first on cnbc this hour >> futures are higher on those upbeat earnings. gdp did slow to 2.1, but beat expectations earnings big picture today google's parent beating big on both the top and the

carl quintanilla is off this morning. let's get a look at the markets.mes it bears repeating a new record high on the s&p 2972 you see it right there the nasdaq obviously having a strong day as well. >> and that is where our roadmap for the hour begins. stocks rallying. the s&p hitting an all-time high after president trump and president xi strike a trade truce. >>> plus an opec meeting underway in viana. the cartel set to set production curves. >>> and hedge fund health. the wave of ipos a savior for some on the street who is benefiting and who is getting left out in the cold. >>> the meeting of those ministers in vienna. brian sullivan is there. he caught up with iran's oil minister interesting conversation i'm sure brian. >> reporter: yeah, david, it was. i have never seen more interest around this. you have probably seen the posts. we ramble in a sfar well for an hour and a half boiling. everyone usually runs to the saudis this year iran getting as much or perhaps more attention. very frustrated with opec generally as well. i began by asking him basi

i'm sarah with david, from the stock exchange, carl quintanilla has the day off.ng off the trade, coming off record levels, closed at a record high for s&p yesterday just pulling back a tenth of a percent after post g-20 trade truce celebration. as far as what's working in the market, real estate, utilities, a little defensive tone, energy and materials the biggest losers road plan for the hour starts with, quote, it's already begun. the president saying u.s. and china have picked up on trade talks. moments from now we'll speak with president trump's trade adviser peter navarro. >>> another ipo brewing? it could be the world's largest offering this year. >>> plus sneaker backlash. nike canceling plans for the release of its new shoe with an early version of the american flag now one state where nike was building a manufacturing plant is pulling financial incentives for the company. details on this rapidly developing story straight ahead. we will start with trade, though, stocks moving lower days after hitting pause in the trade war with china this as the trump adm

i'm carl quintanilla at post nine of the new york stock exchange sara has the morning off market witht of weakness to start the week dow's down 150 on mostly this apple downgrade. watching deutsch as well and accepting powell later this week. >> apple leading the tech slide. the dow falling this morning as fed chair jay powell prepares to testify this week on capitol hill. >> another possible controversy brewing at starbucks we will tell you what has the company apologizing this morning. >> plus, deutsche bank announces massive job cuts as it rolls out a highly anticipated restructuring plan i will speak with former jpmorgan cfo dave bronstein. his investment firm announced a 3% stake in deutsche bank last november. >> meantime, stocks down to start the week after the better than expected june jobs number perhaps dampening expectations president trump continuing to apply pressure over the weekend. >> like everything, they are not doing well and we're doing great. but we are putting an unfair playing field when they cut interest rates and pump in a lot of money which is just the opposi

i'm carl quintanilla with jim cramer, david faber at the new york stock exchange.aterpillar's miss and soft guid guidance, so much else to watch, including the doj on big tech. facebook settlement, weak global pmi, mueller and more. europe is mixed. ten year yield below 205 the d.c. head winds for big tech record ftc fine and the s.e.c. accusing facebook of misleading investors as the doj launches this antitrust review. >> corporate earnings going to be weighing on some stocks at least this morning boeing and caterpillar disappoint trade worries remain >> u.p.s. shares sinking ahead of the open. profits soaring more than 13% for the quarter. david abney joins us first on cnbc this hour facebook up first. three different government agencies today, the ftc formally announcing that record 5 billion settlement with the company over privacy violations, imposing new requirement oz on mark zuckerberg and making structural changes to the board the s.e.c. simultaneously announcing $100 million settlement accusing the company of misleading investors about the misuse of user

carl quintanilla poli d.c. police are investigating shootings that happened over the weekend.nother incident, two children were shot whenomeone opened fire when people were waiting at bus stop. >> news4 justin finch joins us live outside d.c. police headquarters with the latest. >>> good morning. two concerning case, obviously. both case, police are telling us rhey are looking fo vehicles of interest. let's get you to most recent shooting happening yesterday. crime scene between 14th and 15th street by the st. augustine catholic church. it was there one m was shot. another shot as wel. one died on the scene there. neier has been identified at anhis time but gunfire beg to ring out sunday after 5:00 p.m. we are told. police now looking for maroon colored four-door sedan and at least two spect. we also spoke with a neighbor who tells ushe hd the gunfire. >> we walked out of our apartment not thinking anything. there was some guy that was shot in the leg on 1440 and then unthey were handling that or whatever. we didn't loiter or anything like that so we went over to the park to h

i'm carl quintanilla with morgan brennan. dre deirdre is here. going to have some news and he has it now from chicago hey, phil. >> reporter: hey, carl we're still going over the numbers that we got here, but the most important information, the one that people are most focused on, whether or not boeing secured any firm orders for the 737 max in the month of june the answer is "no. zero new orders for the 737 max in june. so that's three straight months, june, may, april, with zero new orders for the 737 max and in terms of that max backlog, it actually dropped by three, as a customer converted three max orders they'll now be made at 787s. so they are not taking those as maxes, 787s. total for the commercial airplane division at boeing, nine nets orders commercial airplanes for the month of june. so there's the information and you see shares of boeing ticking lower. not a surprise, guise. we talked with dennis muilenburg at the paris air show and he said, look, we haven't gotten any firm orders, and yet there was the iag news about a commitment to

congress for business practices that put the company at the heart of the youth vaping storm carl quintanillan the teen recent juuling on a trip to a factory. >> juuls are intended to help adult spomokes to switch to his product, bit it's the most popular vape among teens and it's biggest demographic are millennials who have never smoked we ask what his response is. if we did this tour today, with a parent, right? of a teen who had been using or who had been addicted, how would you sort of defend all this? all this scale all this production, all this growth >> first of all, i would tell them that i'm sorry that their child is using the product it's not intended for them i hope there was nothing we did that made it appealing to them as a parent of a 16-year-old, i'm sorry for them and i have empathy for them in terms of the challenges they're going through. >> burns hopes juuling turns out to be less risky but admits there are concerns about the impact of chronic vaping >> we have not done the long term clinical testing we need to do >> the fda has not reviewed either the juul or any other e-c

i'm carl quintanilla with jim cramer and david faber at the new york stock exchange.is powell day two this time banking after paving the way yesterday for a rate cut, steepening the curve by the most in a two-day period europe mixed bonds over there continue to see a significant selloff. our own ten year near 208. core cpi runs a bit warm our road map begins with s&p 500 3k the ten-year bull market makes new history as the fed chair appears to make the case for a rate cut >> plus big tech is at the center of the president's tariff fights as france vows to tax some of the largest american companies. the white house hits back. >> and forget f.a.n.g. jim has a new basket of stocks to watch you saw it here on "squawk on the street." the s&p surpassing 3,000 yesterday for the first time ever after the fed chair did signal a rate cut is on the horizon. this morning it goes back to the hill, testify before senate banking. yesterday in front of that house panel, he was asked if a strong case could be made for lowering rates due to trade uncertainty and inflation short of the

i'm carl quintanilla with jon fortt at post nine of the new york stock exchange.organ brennan is in florida at the kennedy space center as we commemorate the 50th anniversary of the apollo moon landing a lot from morgan later on in the hour we're going to watch medallia opening now as we're getting not just new issues as well as primary prints of new issues earlier in the day what a day for ipos. >> it is, indeed and this is a company in a pretty hot space survey monkey is in this space as well being able to collect data not just from the world at large, but customers, b-to-c, part of this whole transformation we keep talking about >> leslie picker will have the ceo later on in the hour got to start with microsoft, though, this morning, obviously beating the street on the top and the bottom line, upping its guidance and widening its lead jon, you know the company really better than anyone are you impressed at this point, at least with growth in cloud? >> i am, carl, because cloud has become at once so important and then nonsensical at the same time it used to be,

i'm carl quintanilla with sara eisen.id faber at the stock exchange pretty historic day in the markets as we get the text of powell's statement earlier today. first, though, getting economic data crossing the tape we will get to rick santelli in a moment as we watch the chairman take his chair here, it's going to be an interesting couple of hours in front of the house. >> the market is celebrating he cemented the case for cutting interest rates he did not have to do that, but he says there is uncertainty about the outlook. he played down the good data like the jobs report, played up the risks like brexit and global uncertainty. >> chair maxine waters there getting the meeting ready. let's get wholesale trade with rick. >> on the inventories, we are looking at a final may, which means the 0.4 listed is a mid month. we replaced with 0.4 it basically remains the tame. 0.4 isn't so bad actually, 0.4 is one of the top three best numbers of the year i know there are only a handful. it is holding. inventories are a big part of t

i'm carl quintanilla with morgan brennan. obviously, got to start with netflix today, getting crushed after posting weaker than expected sub numbers this is reed hastings on the call last night. >> we're having a lot of new competitors enter over the next year and i think our position is excellent. we're building amazing capacity for content. our products have never been in better shape and our rate of investment is extremely high so if investors believe in internet television, which i think is an easy one to get there, then our position in that market is very strong. >> cowan's john blackly with us along with lee horowitz to talk about a story where investors aren't -- is this part of the normal post-print volatility or is it something different this time, lee? >> obviously, it was a big subscriber miss in the quarter and it brought about two very important questions for us that we think investors are contemplating today. netflix's ability to raise price in lieu of rising competition. you saw evaluated churn in this quarter

carl quintanilla met a man in london who could be a poster child for the british government's taken e-cigsing's just kept me off cigarettes, four years, not a single cigarette. >> not a single cigarette? >> not one it's thanks to vaping to be honest >> his success with vaping is a path the british government would love to have other u u.k. smokers follow, using the same research about e-cigarettes u.s. officials do, the u.k. has come to a radically different conclusion it enthusiastically embraces vaping as a healthier alternative to smoking. >> most of us know that smoking is bad for our health. >> the government has even produced a striking online vud to make its point. >> i mean, it just is so revolting. >> that obviously is a very short look you can be sure to catch the new documentary, vaporized, america's e-cigarette addiction tonight 10:00 p.m. eastern and pacific right here on cnbc >>> when we come back, better, stronger, faster gentlemen, we can rebuild it we have the technology, we have the capability to build the world's first bionic man >>> how about the $131 billion man. the d

i'm carl quintanilla with morgan brennan. fortt is back at post nine >> the band's back together. >> we are getting some breaking news from facebook testimony from david calibra is just out >> he says that we know we need to take the time to get this right. and he expects that the time between now and the launch period will be an open process and he acknowledges that it will be subject to regulatory oversight and review he also says that he agrees with the concerns of fed chairman jay powell, that reviewing libra needs to be a patient and thorough process rather than a sprint to implementation david marcus also calls economic empowerment one of facebook's core values. that's why they're participating in the development of this currency he says and emphasizes that libra will be a payment tool and not an investment. he likens it to cash rather than to boyitcoin but he also lays out the danger of failing to act. he says that if the u.s. and facebook does not take the lead on this issue, we could soon see a digital currency contr

i'm carl quintanilla with morgan brennan, deirdre bosa is here, jon is off today markets down about 138 with apple shares under pressure after some mixed notes on the street. rosenblatt downgrades the stock. shares down about 2.5% joining us to discuss, raymond james analyst chris caso and our own mike santoli is here >> i can tell you what we've got to say we've been cautious on it for a bit of a while and it's really driven by the iphone cycle last year's cycle wasn't very compelling this year's cycle, as we expect, it's not going to be very different. so, you know, kind of more of the same this year what we're hoping for, as you go into 2020, is that perhaps 5g starts to be a catalyst for the shares, but you've got to get through the cycle first. >> what happened to the last half year we spent talking about how services and wearables will make up for whatever weakness there may be in the classic cycle? >> yeah, and that hasn't been our call and the problem -- with the services is that it's just too small as a percentage of the total. so services, as one of the examples, you would hav

i'm carl quintanilla with deirdre bosa and jon fortt at post nine of the new york stock exchange morgannnan has the morning off. dow session low was about 150. we'll start with this rally in tech leading the s&p to record closes yesterday these regulatory headlines out of d.c. not slowing down the momentum out of the valley evaluation partners, early facebook investor, roger mcnamee is with us to talk about facebook's print they can't lose. >> no. >> what would it take to slow these guys down? >> to be clear, i think from an investor point of view, they're delivering exactly what investors want and as long as that goes on, the stock is going to be fine to me, the question is the policy one that all of us as citizens that our government has to ask, which is, should there be some limit on what businesses can do when the actions of that business affect public health, democracy, privacy, and competition. and, you know, we're wrestling with that right now and the government's getting its gears moving, but it goes slowly and until i guess it's going to need to get a lot more momentum behind i

i'm carl quintanilla with morgan brennan and jon fortt at the new york stock exchange.y monday morning and it's going to be a very busy week we're going to start with some talk about technology and antitrust. our next guest's latest column says, are we finally getting serious about big tech monopolies is it too late cnbc contributor kara swisher joins us this morning. good morning, kara good to see you. >> hi. good to see you. >> you ask, are we finally getting serious about mo monopolies and then you go on to say, you're not holding your breath and no one in silicon valley is holding their breath >> no, we're not there's been so much suggestion about the ftc and the justice department, i just wanted to point out some information for them about how much of a cheap date consumers have been to these tech companies and whether we need morecompetition. it's something i've been talking about the idea that we should have a new social network, that we should be able to have a new search engine and have some choice and there's very little choice in many, many -- too many sector

i'm carl quintanilla morgan brennan has the morning off. is too beginning with major tech earnings four big one, twitter, amazon, alphabet and intel and intel's ceo bob swan will sit down with us as we look at potential datacenter recovery, pcs and unbelievable characterization of what china was like last quarter. >> yeah, surprising mix, the pull in from people freaked out about tariffs actually had some benefit, sounds like, for the pc business, of course, there were some problems there as well but interesting stock action this morning. intel actually a bit in the red this morning it had been up as much as 4%, i believe, at the open and near there. up kit a bit afterhours and amd higher than intel which is an interesting dynamic that i'll want to dig into but, you know, beyond just intel, you have lots of different earnings story, people surprised. google, alphabet had been in the doghouse compared to peers and a lot of people got surprised by these strong results >> for both cloud in focus even though the focus for amazon switched to top

i'm carl quintanilla with morgan brennan.re's a lot to watch today, but we're going to start with beyond meat, getting hurt in today's session after mixed result in the announcement of that secondary share offering. aditi roy has all the latest this morning from san francisco. hi, aditi. >> hi, carl. the stock is down despite the company posting some strong numbers on certain metrics investors, though, are trading on a secondary stock offering by the company. beyond is on track for its second-worst day ever. its worst day was back on june 11th, when it went down more than 25% in volatile trade the secondary offer is for 3.25 million shares 3 million will be sold by current shareholdered while 250,000 will be offered by the company. a regulatory filing chose that ceo ethan brown plans to share more than 38,000 shares which could net him $38.7 million. they'll use the proceeds for expanding supply and marketing some believe that could lead to further short interest in the stock, because it could cut borrowing rates. but the bul

i'm carl quintanilla with deirdre bosa i'm jon fortt. got to start with tech today and a rally in some of the big earnings names nasdaq coming off its best day in a couple of weeks, with the tech sector on pace for a record close. you've got names like facebook, amazon, alphabet and twitter all set to report this week and snap after the bell tonight where is the value in tech, as we work through this busiest week of earnings season? janice henderson's denny fish is with us today. denny, welcome good to see you. >> thank you for having me appreciate it. >> we've got about a hundred s&p names on the tape so far for the quarter and in tech, at least, if you strip out netflix, what has there been to complain about, really? >> there really hasn't so far. you know, the numbers, particularly if you're focused on companies with long duration competitive advantage and you would highlight over the last couple of weeks, we've seen microsoft, for example, put up exceptional numbers, as the cloud transition continues and azure continues to ramp and y

i'm carl quintanilla jon fortt is off we're going to start the hour in washington, getting some news out of treasury today. elan el elan ylan muy has that >> the letter says that it is impossible to know exactly when the treasury will run out of cash, and so mnuchin called on congress to raise the daelebt ceiling before they leave at the end of this month. house speaker nancy pelosi is scheduled to have a phone call with mnuchin today she said yesterday she's open to negotiating a deal to raise a debt ceiling along with the federal spending caps over the next several weeks we'll bring you any details on those discussion as we have them back over to you >> that's going to be a topic of more importance as we get through the back half of the year ylan, thank you. >>> a move to crypto now, especially facebook's libra. the president took to twitter to say he's not a fan of bitcoin or other cryptocurrencies adding, quote, facebook's will have little standing or credibility. libra a major topic on capitol hill during the fed chair's testimony. take a listen. >> we agree that libra raises a

i'm carl quintanilla, morgan brennan, jon fortt, a busy day with the fed, but of course apple is thetory of the morning at least shares are up after posting strong revenue growth again seeing another quarter of weak iphone sales apple's ceo spoke with our own josh lipton on the quarter, and josh joins us this morning from san francisco to talk about that conversation hey, josh. >> reporter: so carl, apple beat expectations and projected revenue for the current quarter that also bested forecasts iphone revenue did drop 12% to 26 billion still, that was an improvement from the march quarter which cook attributed to new trade-in and financing programs and recovery in china. on the subject of trade tensions with china, cook saying i think it always helps when the tension is lower, and i think there is some level of that in the numbers. it's hard to say how much when the countries are meeting and talking, it is better than not cook telling me he sees no evidence that his products are being boycotted in china and that he has made no significant changes to his supply chain in response to po

i'm carl quintanilla with morgan brennan at the new york stock exchange jon fortt's in chicago todayt cnbc's at work human capital and finance summit a lot more from jon in just a moment we're obviously going to begin in washington, go back to senate banking and that hearing on facebook's crypto. ylan mui can wrap up some of what we've heard in the last hour >> the hearing is still going on behind me, but already there have been several fiery moments, including some from senator sherrod brown, the ranking democrat on the committee. in his opening statement, he compared facebook to a toddler playing with matches and said that it would be delusional for anyone to trust facebook with their finances, when the company has already broken so many promises on privacy. he then tried to get david marcus, a facebook executive who's testifying to make his own promise, and that is to receive his salary in libra. >> senator, if your question is whether i would trust all of my assets in libra, the answer is yes. >> do you trust this enough to make your compensation paid fully in your currency >> se

i'm carl quintanilla with jon fortt and deirdre bosa here at post nine of the new york stock exchangeorgan brennan has the morning off. we're going to start with this rally in tech stocks ahead of some big earnings later on in the week obviously, we'll get facebook, alphabet, amazon, intel, and twitter all before friday afternoon. bob pisani and mike santoli here at post nine on what to look for and which print do you think we have the most confidence in going in that was a question for cramer today. >> which print we're going to hear from this week? >> he thought maybe google had more liability >> well, google's in the penalty box of those four, so i think probably does have the most to have prove also, perceived to be the company that cares about making the number least i don't know if that works for them or against them in terms of setting expectations but this time i think what's going to be most interesting is how the stocks react and what was already built in or was this just kind of a big trade into big cap growth and we're not really talking about the quarterly results. it's j

i'm carl quintanilla, obviously a big day for earnings we're watching the hill, the ftc and facebooke big news a news conference on that $5 billion fine over data privacy issues is going to start in awe if moments. we're going to take you to washington when that begins, but the swirl of agencies circling the company, ftc, who knows what the doj has in mind and we'll get a clearer picture of what the quarter looks like tonight. >> i don't know why it feels like something shocking is happening. we've known this fine is coming for a long time, a big fine, but somehow to see 5 billion written down then more interesting to me, the restrictions and the oversight, the committee within facebook that looks like maybe it's been structured in a way where mark zuckerberg doesn't have total control over this piece, you know, the ftc making the case that mark zuckerberg has to certify this privacy compliance every quarter, and this time if he slips up, there will be consequenc consequences, young man. i don't know if that's true. >> i think it's also interesting to look at some of the dissension w

carl carl quintanilla met with a man in london named happen kerr who could be the poster child for the british government's take on e-cigarettes >> vaping kept me off cigarettes four years >> not a single cigarette? >> not one it's thanks to vaping, to be honest >> reporter: his success with vaping is a path the british government would love to have other u.k. smokers follow. using the same research about e-cigarettes that u.s. officials do, the u.k. has come to a radically different conclusion it enthusiastically embraces vaping as a healthier alternative to smoking >> most of us know that smoking is bad for our health. >> reporter: the government has even produced a striking online video to make its point. >> here is the jar with cigarette smoke. >> it just is so revolting >> reporter: obviously advertising regarding tobacco is much different over there, melissa, than it is here in the united states. but it does show you, once again, how if you come up with a disruptive technology that roils all kinds of different markets, you're eventually going to be dealing with multiple levels of

i'm carl quintanilla with deer ra bow is a here got some record highs here the chair has discussed several things, facebook, libra, the jobs market, the experience of japan, u.s./china trade, but there was an interesting exchange between him and chair waters about what he would do if the president did ask for his resignation. take a listen. >> mr. chairman, if you got a call from the president today or tomorrow, and he said i'm firing you, pack up, it's time to go, what would you do? >> well, of course i would not do that. >> i can't hear you. [ laughter ] >> my answer would be no. >> and you would not pack up and you would not leave? >> no, ma'am >> because you think the president doesn't have the authority? is that why you would not leave? >> i have -- i've kind of said what i've beintended to say on e subject. what i said is the law clearly gives me a four-year term and i intend to serve it. >> steve liesman, what you make of that? >> i think he fortified it pretty much there. i kept thinking of that bob dylan song, i ain't going nowhere i thought was the way he was answering that, and

i'm carl quintanilla with jim cramer, david faber.ith powell on deck. tech companies on the hill soft china gdp number getting the president's attention. europe is green and oil is up a quarter this morning road map begins with wall street's record run, stocks poised for renewed gains of the open a

i'm carl quintanilla with deirdre bosa i'm jon fortt.th tech today and a rally in some of the big earnings names nasdaq coming off its best day in a couple of weeks, with the tech sector on pace for a record close. you've got names like facebook, amazon, alphabet and twitter all set to report this week and snap after the bell tonight where is the value in tech, as we work through this busiest week of earnings season? janice henderson's denny fish is with us toda

i'm carl quintanilla with morgan brennan at the new york stock exchange jon fortt's in chicago today capital and finance summit a lot more from jon in just a moment we're obviously going to begin in washington, go back to senate banking and that hearing on facebook's crypto. ylan mui can wrap up some of what we've heard

and congress for business practices that put the company at the heart of youth vaping storm carl quintanillarnes on teen addiction to e-cigarettes. >> if we did this tour with a parent of a teen who had been using or who had been addicted, how would you sort of defend all this, all this scale all this production, all this growth >> first of all, i'd tell them i'm sorry that their child is using the product. it is not intended for them. i hope there was nothing that we did that made it appealing to them as a parent to the 16-year-old, i'm sorry for them and i have empathy for them in terms of what the challenges they're going through. >> burnes hopes juuling turns out to be less risky than smoking but it admits there are real concerns about the impact of chronic vaping. >> frankly, we don't know today. we have not done the long-term longitudinal clinical testing we will need to do. >> carl joins us now with more on america's e-cigarette -- >> it's weird. >> thanks for joining us all the clips all day have been awesome. looking forward to the full thing 10:00 p.m. tonight some of the clips ear

i'm carl quintanilla with jim cramer and david faber at the new york stock exchange.rday for a rate cut, steepening the curve by the most in a two-day period europe mixed bonds over there continue to see a significant selloff. our own ten year near 208. core cpi runs a bit warm our road map begins with s&p 500 3k th

i'm carl quintanilla with jim cramer at the new york stock exchange david faber has the morning off. it is a big week with a fed meeting, u.s./china trade talks resume, a jobs number on friday, a third of the s&p reporting, europe mostly green the ten-year's right around 2.05 our roadmap's going to begin with earnings, fed, trade and jobs wall street in waiting mode ahead of a major market-moving

i'm carl quintanilla with jim cramer, david faber.affirm expectations of a cut. in his prepared remarks, he says, quote, it appears uncertainties around trade tensions and concerns about the strength of the global economy continue t

i'm carl quintanilla with sara eisen, david faber at the new york stock exchange.rd to miss earnings from twitter, mcdonald's, amazon, google, intel, starbucks, we'll hear from the ceos of the last two later this morning on cnbc futures do look to bounce off the thursday sell-off. europe is mostly green our first look at q2 gdp up