daily double. >> cisco, not the food kind. >>> chuck robbins, in the morning, by the way.mad money" with jim cramer begins right now >>> my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. >>> hey, guys, on a day like today, you have to wonder. what the heck is happening why isn't this market fallin

chuck robbins, cisco ceo, joins us on the back of yesterday's earnings.ecline and it tries to remake itself among a changing network industry. this is bloomberg. ♪ ♪ minutes: the fomc indicated most fed officials supported midterm move. joining us to discuss is fed reporter matt and chad morgan. matt, what did we learn yesterday: matt: despite all the weak inflation data with these big one-off downward moves in different categories and services, the fed is mostly sticking with its framework where it believes if it allows unemployment rates to continue to fall, inflation will eventually be able to pick up. therefore we don't necessarily need to see much of a game changer on the inflation front to continue going forward with interest rate increases. jonathan: there is a big debate. to wait and see crowd. and the keep going crowd. who will win? matt: there is a growing contingency that wants to see some pickup in the inflation data in the next few months before deciding on a rating reason december -- rate increase in december. probably do, you see a hike. jo

to decline between 1% to 3%, in line with forecasts on the conference call analysts asked ceo chuck robbins about the switching business here's what he said. if you think about our guide last quarter, we anticipated that we also knew at the time that we were going to be making the announcement in june about the new platform so we anticipated these results. any time we do a major platform announcement, particularly in switching, there is a period of time where our customers pause, because they want to understand what this means. so we did see a pause. we actually anticipated it but we saw great traction with the new platform >> another topic on the call, spending by the u.s. federal government remember, that was called out as a sore point last quarter. robbins saying starting in early may cisco was seeing more clarity and improvement there but facing uncertainty when it comes to spending by the fed josh lipton, san francisco. >>> chuck robbins, the ceo of cisco will speak to cnbc later today at 15:10. >>> we have to talk about the fed. minutes of the fed's july meeting show policymakers divi

ceo chuck robbins joins us at 2:30 p.m. u.k. time. that is your bloomberg business flash.rancine: now let's talk about the fed. the battle between data and theory. that is how one analyst described the situation. minutes from the fomc july meeting showed officials scratching their heads about why their models aren't working. us, bob janjuah, client advisor at nomura international, and ralf preusser, global head of rate strategy at merrill lynch. range we'ves the seen. what will happen to them from now on? ralf: we think they're going to go higher. it is a question about whether or not the market is willing to go the extra step and price in the end of the hiking cycle for the u.s. it is a question of what impact you believe the fed balance sheet will have. i don't believe transferring $685 billion worth of treasuries into the private sector by 2020 isn't going to have an impact on prices. i think rates will move higher. last night didn't really tell me anything new. we all know the phillips curve models are challenged in the current environment. at the end of the day, the n

chuck robbins is going to join us on the companies earnings market slightly red. ten year yield just 224 despite jobless claims near a six month low. our road map begins with a gap between the president and ceo. those executives speak out walmart is down on earnings and we'll dig through that report and talk about the amazon effect and shares on alibaba spiking on earnings first up though, the watch is on to see what effect this could have on the trump agenda a few of the quotes jamie dimon i strongly agree with the president's statements must speak against ideas that divide us. >> i'm ashamed of our president's behavior what does this all mean for the agenda and the degree to which business was going to help push it >> no republican that i've seen has called ut trump by name the way some of these ceos have an there's a desire to get something done in tax reform but repeal and replace that budget are going to be ahead of that and i think that they themselves will be more attracted because of this. if you look at the calendar it's probably not possible but it would

ceoy: that was cisco's chuck robbins. bitcoin continues to surge. what is driving the demand.e will discuss. tech firms are stepping up the policing of hate speech online. we will talk about the review of their policies. this is bloomberg. ♪ emily: it is another successful rocket landing for spacex, the 14th to be exact. monday's rocket carried a dragging capsule loaded with over 6400 pounds of cargo destined for the international space station. the dragon will spend the next couple of days in orbit before meeting up with the station on wednesday. bitcoin continues to show no signs of slowing down. the cryptocurrencies sword passed $4000 for the first time this week. the rally comes after a split last week which threatened to jeopardize its growing mainstream interest. theline hyde caught up with president of an online platform which allows you to buy and trade bitcoin by linking into your bank account. >> we are seeing the market respond to a real improvement and leap forward in the technology which stands behind bitcoin. segregated witness is essentially an improvement to th

we'll hear from ceo chuck robbins on the company's plan to become less dependent on hardware.g compete with amazon, and it is showing up in earnings. shares are lower as walmart

we'll hear more from ceo chuck robbins.ins "squawk on the street" at 9:10 eastern. >>> we have been watching the markets this morning, the futures are relatively flat at this point let's talk a bit more about what's happening kevin gittis is the head of fixed income from raymond james, and peter boockvar is from the lindsay group. welcome to both of you peter, let's start talking about stocks first we know that stocks yesterday still closed higher even though they gave back some gains. you can see what happened with the ceo councils and extrapolate what that might mean for trump's policies why is the market not more concerned? >> the market and the economy don't care about trump's personality, they only care if it influences the policies that are still to come. >> it's hard to believe that won't happen at this point >> until they know whether tax reform is going to get kicked to next year because of his political issues now, they won't care every day people -- >> you're saying if the market suddenly thinks tax reform is not

emily: chuck robbins there, ceo of the cisco.oming up, china's largest itsne marketplace boosted e-commerce while having a new strategy for its off-line business. we breakdown alibaba's results. this is bloomberg. ♪ emily: u.s. stocks sold off today. the dow and s&p 500 posting their worst day since mid may. the nasdaq lost nearly 2%. tech weighed on the major averages. apple, microsoft and amazon were all a good for the s&p 500. investors concerned over the terror incidents in barcelona and the controversies surrounding the trump administration. one stocks it did post gains despite the selloff was alibaba. they hit a record high after posting quarterly earnings that topped estimates. revenue jumped 56%, and profit nearly doubled in the june quarter, fueled by a core e-commerce business. joining us to discuss these impressive numbers the managing , partner at capital and one other. when it comes to revenue growth, are you impressed the company of this size can continue to post such strong numbers? >> of course we are being impres

we'll hear from ceo chuck robbins on the company's plan to become less dependent on hardware. big to is spending compete with amazon, and it is showing up in earnings. shares are lower as walmart issues a little warm forecast. -- issues a lukewarm forecast. recapping breaking news first from barcelona -- many people injured by a van on barcelona's ramblas -- a very touristy area of barcelona. there has been a massive trampling on the ramblas and people are being encouraged to stay away from the area. we have very little information on what exactly happened in this part of catalonia, in fact, and will be do know is the prime minister is in touch with all authorities. we will continue to bring you up to date, but once again, las ramblas, a spot popular with tourists, has found itself the victim of a crime. a man lowering -- mowing down -- it's been a local paper reporting there was a shoot out. that report came a few moments before we learned of this particular incident. these vehicles have been used in a series of terror attacks in europe in recent months. we know barcelona is

. >>> chuck robbins, in the morning, by the way. "mad money" with jim cramer begins right now >>> my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. >>> hey, guys, on a day like today, you have to wonder. what the heck is happening why isn't this market falling apart? you have the confused narrative about the demise of the business leader panels the president put together with so much fanfare. did he disband them? who knows? you've got ceos openly castigating the president for his off the wall remarks and the president calling them infants pure chaos in washington, with some of trump's most important allies unable to hide their contempt for the pre

matched estimates, but the stock is down 3% we'll hear much more about the quarter this morning chuck robbinsill join "squawk on the street" f.a.n.g.s doing phone, but alibaba having a good run after delivering alpha berkshire hathaway is not budging on its encore offer. the energy unit is standing firm on buying oncor. elliott management has been trying to top the offer with a 9$9.3 billion proposal. >>> still ahead on the show, the big fireworks between the u.s., mexico and canada as those nafta talks get underway certainly could have implications for companies and consumer products that we use here every day full details ahead your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember. tha...oh, burnt-on gravy?ie. ...gotta rinse that. nope. no way. nada. really? dish issues? throw it all in. new cascade platinum powers through... even burnt-on gravy. nice. casc

the ceo chuck robbins joins us .fter 2:30 p.m. u.k. time that is your bloomberg business flash.n. tencent shares have jumped the most in a year after they posted a record profit in the fastest sales growth in seven years. anna: we'll get earnings from rival alibaba. analysts expect the company to show strong revenue growth. as we were just discussing, we have a chart from one of our colleagues on china's text giants, this is global. ian: global growth and the -- in the economic sector is muted. even though we are talking about stronger economic activity will 4.around 3.5 or you have the growth expectations from these tech stocks, they are long-duration stocks so as bond yields stay low you get that stimulus, there classic roast plays in that is why people are getting excited about this. in a world where earnings growth decelerates according to our top down monfils kinds of stocks stand out attractively and that is where the valuations get pushed up. manus: they still hold attraction for you. we get filings at the end of every quarter. this is not cast in stone but what we are se

we are getting comments from the ceo, chuck robbins, the ceo saying they had a strong quarter. it was transr transformative year and they made tremendous progress in two years. transferring our business to more software and recurring revenue. the revenue came in at 12.1 billion. that was more than the 12.06 billion than had been anticipated. they also gave an outlook on restructuring plan. that wit be substantially completed by fiscal 2018 in the first quarter. back to you guys. melissa: nicole, thank you. david: quick check on oil, dropping more than 1 1/2% to 46.78 a barrel. crude driven lower by a government report showing u.s. out put is now at a two-year high. gold reversing course after spending two days in the red, closing up a quarter of a percent to 1290 an ounce. it is up after hours much higher $8. good day for gold. melissa: are republicans still confident they can get it done this year? what house ways and means committee chair kevin brady is telling fox business right now. grover norquist, for americans for tax reform will weigh in as well. david: new details surf

julie: that was chuck robbins. total eclipse of the sun. parts of the u.s.unge into darkness and we will plunge into many puns as the solar eclipse ascends upon the country. oregonoing from sailing, to south carolina. homeowners are finding ways to cash in. joining us is olivia zaleski. she is not likely to have a great view of the of clicks neither are we here in new york city. it will be a partial eclipse. is seeing a surge in listing along the route of the eclipse. 50,000 people are expected to check into an airbnb, which is exciting -- or check into an airbnb on the path of totality, which is the 70 mile narrow strip. it is exciting for the company because 47% of these listings are brand-new users for airbnb. this is a unique opportunity an offense that has brought in a lot of people who wouldn't otherwise have a reason to list their home on an airbnb, perhaps because their town isn't really a tourist destination. just their homes, single rooms, patches of grass, recreational vehicle and people are trying to get everything out there possible. they're pos

. >> chuck robbins helped us there when he said i thought these issues were done and i'm sure people what an inappropriate place but the analyst didn't i was surprised. take one more look here at the premarket. more squawk on the street after the break. whuuuuuat?rtgage offer from the bank today. you never just get one offer. go to lendingtree.com and shop multiple loan offers for free! free? yeah. could save thousands. you should probably buy me dinner. no. go to lendingtree.com for a new home loan or refinance. receive up to five free offers and choose the loan that's right for you. our average customer could lower their monthly bills by over three hundred dollars. go to lendingtree.com right now. >> ultimately at >> they had an unblemished record they're going to have to update when they report and they're saying that it's a weaker backdrop now you could say well wait a second, no kidding, maybe that's been factored in at the same time we have seen price competition in this area largely from the department stores that have tried to get back into this game a lot of stuff is in this

chuck robbins said that merck is an exempt -- dry said merck is an example of a company -- trump saidle of companies having their products made overseas. the president has threatened to end certain insurance subsidies under the law. rivals said the u.k. needs to keep it simple when it comes to brexit britain couple katethey may by producing a series of position papers for the talks. comes to brexit. schulz says they may cooperate by producing a series of position papers for the talk. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries, i am taylor riggs. guy: mr. schulz wants to keep it simple but in many cases, it is complicated. they said they want to avoid a physical barrier with the eu and tensions are mounting over the terms of the departure from the bloc. fleshing out the proposals at noon london time today and the full press -- brush overnight. simon kennedy is with the and charles dumas. simon, this is one of the things that the eu wants to get isolved and at the u.k. saying we do not want to have a border, the details are